鐔遍粸(di菐n)灏堥锛�2014骞寸稉(j墨ng)婵�(j矛)甯€冭│鍫�(b脿o)鍚�|缍�(j墨ng)婵�(j矛)甯€冭│濡備綍閬稿皥妤�(y猫)

    瑾茬▼鎺ㄨ枽锛�2014缍�(j墨ng)婵�(j矛)甯叏绋嬩竴灏�(du矛)涓€|鍒濅腑绱�(j铆)淇濋亷|瓒呭€肩壒鎯�

    鏌ョ湅鍖附銆�2014缍�(j墨ng)婵�(j矛)甯€冭│銆婁腑绱�(j铆)宸ュ晢銆嬬珷绡€(ji茅)杓斿皫(d菐o)鍖附

銆€銆€浜屻€佹潬妗跨悊璜�

銆€銆€璨�(c谩i)鍕�(w霉)涓殑鈥滄潬妗库€濓細鐢变簬鐗瑰畾璨�(f猫i)鐢�(濡傚浐瀹氭垚鏈垨鍥哄畾璨�(c谩i)鍕�(w霉)璨�(f猫i)鐢�)鐨勫瓨鍦ㄨ€屽皫(d菐o)鑷寸殑鐣�(d膩ng)鏌愪竴璨�(c谩i)鍕�(w霉)璁婇噺浠ュ皬鐨勫箙搴﹁畩鍕�(d貌ng)鏅�(sh铆)锛屽彟涓€鐩搁棞(gu膩n)璨�(c谩i)鍕�(w霉)璁婇噺浠ヨ純澶у箙搴﹁畩鍕�(d貌ng)銆�

銆€銆€(涓€)鐕�(y铆ng)妤�(y猫)鏉犳】

銆€銆€鎸囧湪鏌愪竴鍥哄畾鎴愭湰姣旈噸鐨勪綔鐢ㄤ笅锛岄姺鍞噺璁婂嫊(d貌ng)灏�(du矛)鎭▍鍓嶅埄娼�(r霉n)鐢�(ch菐n)鐢熺殑浣滅敤銆�

銆€銆€1銆佺嚐(y铆ng)妤�(y猫)鏉犳】鍒╃泭

銆€銆€鎸囨摯(ku貌)澶ч姺鍞(鐕�(y铆ng)妤�(y猫)椤�)鐨勬浠朵笅锛岀敱浜庡柈浣嶇稉(j墨ng)鐕�(y铆ng)鎴愭湰涓浐瀹氭垚鏈浉灏�(du矛)闄嶄綆锛屾墍甯朵締鐨勫闀�(zh菐ng)绋嬪害鏇村ぇ鐨勬伅绋呭墠鍒╂饯(r霉n)銆�

銆€銆€2銆佺嚐(y铆ng)妤�(y猫)棰�(f膿ng)闅�(xi菐n)

銆€銆€涔熺ū缍�(j墨ng)鐕�(y铆ng)棰�(f膿ng)闅�(xi菐n)锛屾寚鑸囦紒妤�(y猫)缍�(j墨ng)鐕�(y铆ng)鐩搁棞(gu膩n)鐨勯ⅷ(f膿ng)闅�(xi菐n)锛屽挨鍏舵槸鎸囧埄鐢ㄧ嚐(y铆ng)妤�(y猫)鏉犳】鑰屽皫(d菐o)鑷存伅绋呭墠鍒╂饯(r霉n)璁婂嫊(d貌ng)鐨勯ⅷ(f膿ng)闅�(xi菐n)銆�

銆€銆€褰遍熆鍥犵礌锛氱敘(ch菐n)鍝侀渶姹傜殑璁婂嫊(d貌ng)銆佺敘(ch菐n)鍝佸敭鍍�(ji脿)鐨勮畩鍕�(d貌ng)銆佸柈浣嶇敘(ch菐n)鍝佽畩鍕�(d貌ng)鎴愭湰鐨勮畩鍕�(d貌ng)銆佺嚐(y铆ng)妤�(y猫)鏉犳】璁婂嫊(d貌ng)(鏈€鐐洪噸瑕�)

銆€銆€3銆佺嚐(y铆ng)妤�(y猫)鏉犳】绯绘暩(sh霉)

銆€銆€涔熺ū鐕�(y铆ng)妤�(y猫)鏉犳】绋嬪害锛屾槸鎭▍鍓嶅埄娼�(r霉n)鐨勮畩鍕�(d貌ng)鐜囩浉鐣�(d膩ng)浜庨姺鍞(鐕�(y铆ng)妤�(y猫)椤�)璁婂嫊(d貌ng)鐜囩殑鍊嶆暩(sh霉)

銆€銆€DOL= 

銆€銆€DOL鈥曗€曗€曗€曠嚐(y铆ng)妤�(y猫)鏉犳】绯绘暩(sh霉)

銆€銆€EBIT 鈥曗€曗€曗€曟伅绋呭墠鍒╂饯(r霉n)

銆€銆€ 

鈥曗€曗€曗€曟伅绋呭墠鍒╂饯(r霉n)鐨勮畩鍕�(d貌ng)椤� 

銆€銆€S 鈥曗€曗€曗€曗€曗€曠嚐(y铆ng)妤�(y猫)椤�

銆€銆€ 

鈥曗€曗€曗€曗€曗€曠嚐(y铆ng)妤�(y猫)椤嶇殑璁婂嫊(d貌ng)椤� 

銆€銆€鐕�(y铆ng)妤�(y猫)鏉犳】绯绘暩(sh霉)鍏紡鍙畩鍖栧涓嬶細

銆€銆€DOLQ= 

銆€銆€DOLS= 

銆€銆€鍏朵腑DOLQ 鈥曗€曗€曗€曟寜閵峰敭鏁�(sh霉)閲忕⒑瀹氱殑鐕�(y铆ng)妤�(y猫)鏉犳】绯绘暩(sh霉)

銆€銆€Q 鈥曗€曗€曗€曗€曢姺鍞暩(sh霉)閲�

銆€銆€P 鈥曗€曗€曗€曗€曢姺鍞柈鍍�(ji脿)

銆€銆€V鈥曗€曗€曗€曗€曗€曞柈浣嶉姺鍞噺鐨勮畩鍕�(d貌ng)鎴愭湰椤�

銆€銆€F鈥曗€曗€曗€曗€曗€曞浐瀹氭垚鏈附椤�

銆€銆€DOLS 鈥曗€曗€曗€曟寜閵峰敭閲戦纰哄畾鐨勭嚐(y铆ng)妤�(y猫)鏉犳】绯绘暩(sh霉)

銆€銆€C鈥曗€曗€曗€曗€曗€曡畩鍕�(d貌ng)鎴愭湰绺介锛屽彲鎸夎畩鍕�(d貌ng)鎴愭湰鐜囦互閵峰敭绺介渚嗙⒑瀹�

銆€銆€4銆佺嚐(y铆ng)妤�(y猫)棰�(f膿ng)闅�(xi菐n)鍒嗘瀽

銆€銆€鎸囪垏浼佹キ(y猫)缍�(j墨ng)鐕�(y铆ng)鏈夐棞(gu膩n)鐨勯ⅷ(f膿ng)闅�(xi菐n)锛屽挨鍏舵槸鎸囦紒妤�(y猫)鍦ㄧ稉(j墨ng)鐕�(y铆ng)娲诲嫊(d貌ng)涓埄鐢ㄧ嚐(y铆ng)妤�(y猫)鏉犳】鑰屽皫(d菐o)鑷存伅绋呭墠鍒╂饯(r霉n)涓嬮檷鐨勯ⅷ(f膿ng)闅�(xi菐n)銆�

銆€銆€鐕�(y铆ng)妤�(y猫)椤嶄笅闄嶁€曗€曗€曗€曟伅绋呭墠鍒╂饯(r霉n)涓嬮檷鏇村揩鈥曗€曗€曗€曚紒妤�(y猫)棰�(f膿ng)闅�(xi菐n)瓒婂ぇ

銆€銆€(浜�)璨�(c谩i)鍕�(w霉)鏉犳】

銆€銆€涔熺ū铻嶈硣鏉犳】锛屾槸鎸囩敱浜庡浐瀹氳病(c谩i)鍕�(w霉)璨�(f猫i)鐢ㄧ殑瀛樺湪锛屼娇娆�(qu谩n)鐩婅硣鏈噲鍒╃巼(鎴栨瘡鑲″埄娼�(r霉n))鐨勮畩鍕�(d貌ng)鐜囧ぇ浜庢伅绋呭墠鍒╂饯(r霉n)璁婂嫊(d貌ng)鐜囩殑鐝�(xi脿n)璞�銆傛湁鍏╃ó褰㈡厠(t脿i)锛�

銆€銆€绗竴锛屽湪鐝�(xi脿n)鏈夌殑璩囨湰鑸囪矤(f霉)鍌电祼(ji茅)妲�(g貌u)涓嶈畩鐨勬儏娉佷笅锛岀敱浜庢伅绋呭墠鍒╂饯(r霉n)鐨勮畩鍕�(d貌ng)鑰屽皪(du矛)鎵€鏈夎€呮瑠(qu谩n)鐩婄敘(ch菐n)鐢熷奖闊�

銆€銆€绗簩锛屽湪鎭▍鍓嶅埄娼�(r霉n)涓嶈畩鐨勬儏娉佷笅锛屾敼璁婁笉鍚岀殑璩囨湰鑸囪矤(f霉)鍌电殑绲�(ji茅)妲�(g貌u)姣斾緥鑰屽皪(du矛)鎵€鏈夎€呮瑠(qu谩n)鍒╃敘(ch菐n)鐢熺殑褰遍熆銆�

銆€銆€1銆佽病(c谩i)鍕�(w霉)鏉犳】鍒╃泭銆傛寚鍒╃敤鍌靛嫏(w霉)绫岃硣(鍏锋湁绡€(ji茅)绋呭姛鑳�)绲︿紒妤�(y猫)鎵€鏈夎€呭付渚嗙殑椤嶅鏀剁泭銆傚湪璩囨湰绲�(ji茅)妲�(g貌u)涓€瀹氥€佸偟鍕�(w霉)鍒╂伅淇濇寔涓嶈畩鐨勬浠朵笅锛岄毃钁楁伅绋呭墠鍒╂饯(r霉n)鐨勫闀�(zh菐ng)锛岀▍鍚庡埄娼�(r霉n)鏈�(hu矛)浠ユ洿楂樼殑姘村钩澧為暦(zh菐ng)銆傝垏鐕�(y铆ng)妤�(y猫)鏉犳】涓嶅悓锛岀嚐(y铆ng)妤�(y猫)鏉犳】鐕�(y铆ng)閵锋伅绋呭墠鍒╂饯(r霉n)锛岃病(c谩i)鍕�(w霉)鏉犳】褰遍熆绋呭悗鍒╂饯(r霉n)銆傚涓嬭〃鎵€绀猴細

銆€銆€2銆佽病(c谩i)鍕�(w霉)棰�(f膿ng)闅�(xi菐n)锛氫篃绋辫瀺璩囬ⅷ(f膿ng)闅�(xi菐n)鎴栫睂璩囬ⅷ(f膿ng)闅�(xi菐n)锛屾槸鎸囪垏浼佹キ(y猫)绫岃硣鐩搁棞(gu膩n)鐨勯ⅷ(f膿ng)闅�(xi菐n)銆傜暥(d膩ng)鎭▍鍓嶅埄娼�(r霉n)涓嬮檷鏅�(sh铆)锛岀▍鍚庡埄娼�(r霉n)涓嬮檷鐨勬洿蹇�銆�

銆€銆€褰遍熆璨�(c谩i)鍕�(w霉)棰�(f膿ng)闅�(xi菐n)鐨勫洜绱狅細璩囨湰渚涙眰闂�(gu膩n)绯荤殑璁婂寲銆佸埄娼�(r霉n)鐜囨按骞崇殑璁婂寲銆佺嵅鍒╄兘鍔涚殑璁婂寲銆佽硣鏈祼(ji茅)妲�(g貌u)鐨勮畩鍖栵紝璨�(c谩i)鍕�(w霉)鏉犳】鍒╃敤鐨勭▼搴�(褰遍熆鏈€鐐虹稖鍚�)绛�銆�

銆€銆€3銆佽病(c谩i)鍕�(w霉)鏉犳】绯绘暩(sh霉)DFL锛屾寚鏅€氳偂姣忚偂绋呭悗鍒╂饯(r霉n)(EPS)璁婂嫊(d貌ng)鐜囪垏鎭▍鍓嶅埄娼�(r霉n)璁婂嫊(d貌ng)鐜囩殑姣斿€�銆傛脯(c猫)绠楀叕寮忕偤锛�

銆€銆€DFL= 

銆€銆€DFL= 

銆€銆€鍏朵腑锛�

銆€銆€DFL鈥曗€曗€曗€曗€曗€曡病(c谩i)鍕�(w霉)鏉犳】绯绘暩(sh霉)

銆€銆€ 

鈥曗€曗€曗€曠▍鍚庡埄娼�(r霉n)璁婂嫊(d貌ng)椤� 

銆€銆€EAT鈥曗€曗€曗€曗€曠▍鍚庡埄娼�(r霉n)椤�

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鈥曗€曗€曗€曟伅绋呭墠鍒╂饯(r霉n)璁婂嫊(d貌ng)椤� 

銆€銆€EBIT鈥曗€曗€曗€曗€曟伅绋呭墠鍒╂饯(r霉n)椤�

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鈥曗€曗€曗€曗€曟櫘閫氳偂姣忚偂绋呭悗鍒╂饯(r霉n)璁婂嫊(d貌ng)椤� 

銆€銆€EPS鈥曗€曗€曗€曗€曟櫘閫氳偂姣忚偂绋呭悗鍒╂饯(r霉n)椤�

銆€銆€璨�(c谩i)鍕�(w霉)鏉犳】绯绘暩(sh霉)娓�(c猫)绠楀叕寮忓彲璁婂寲濡備笅锛�

銆€銆€DFL= 

銆€銆€鍏朵腑锛孖鈥曗€曗€曗€曞偟鍕�(w霉)骞村埄鎭

銆€銆€EBIT鈥曗€曗€曗€曗€曗€曟伅绋呭墠鍒╂饯(r霉n)椤�

銆€銆€鎰忕京锛氣憼鐣�(d膩ng)鎭▍鍓嶅埄娼�(r霉n)澧炴笡1鍊嶆檪(sh铆)锛屾櫘閫氳偂姣忚偂鍒╂饯(r霉n)灏囧娓�1.82鍊�

銆€?銆佽蔼?c谩i)鍕�(w霉)鏉犳】绯绘暩(sh霉)瓒婂ぇ锛屽皪(du矛)璨�(c谩i)鍕�(w霉)鏉犳】鍒╃泭鐨勫奖闊垮氨瓒婂挤(qi谩ng)锛岀睂璩囬ⅷ(f膿ng)闅�(xi菐n)瓒婇珮

銆€銆€(涓�)绺芥潬妗�

銆€銆€鎸囩嚐(y铆ng)妤�(y猫)鏉犳】鍜岃病(c谩i)鍕�(w霉)鏉犳】鐨勮伅(li谩n)鍚堜綔鐢�锛屼篃绋辫伅(li谩n)鍚堟潬妗�銆傜附鏉犳】鐨勬剰缇╂槸鏅€氳偂姣忚偂绋呭悗鍒╂饯(r霉n)璁婂嫊(d貌ng)鐜囩浉鐣�(d膩ng)浜庨姺鍞璁婂嫊(d貌ng)鐜囩殑鍊嶆暩(sh霉)?锛熷仮杌沀绯绘暩(sh霉)DTL鏄嚐(y铆ng)妤�(y猫)鏉犳】绯绘暩(sh霉)鑸囪病(c谩i)鍕�(w霉)鏉犳】绯绘暩(sh霉)鐨勪箻绌�銆傝▓(j矛)绠楀叕寮忕偤锛�

銆€銆€绺芥潬妗跨郴鏁�(sh霉)DTL=鐕�(y铆ng)妤�(y猫)鏉犳】绯绘暩(sh霉)脳璨�(c谩i)鍕�(w霉)鏉犳】绯绘暩(sh霉)

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