{"id":24919,"date":"2026-07-07T12:20:29","date_gmt":"2026-07-07T04:20:29","guid":{"rendered":"https:\/\/openhub365.cn\/?p=24919"},"modified":"2026-07-14T10:05:18","modified_gmt":"2026-07-14T02:05:18","slug":"74-%e5%95%86%e5%8a%a1%e8%8b%b1%e8%af%ad%ef%bc%9a%e8%b4%a2%e5%8a%a1%e5%88%86%e6%9e%90%e8%a7%a3%e8%af%bb","status":"publish","type":"post","link":"https:\/\/openhub365.cn\/index.php\/2026\/07\/07\/74-%e5%95%86%e5%8a%a1%e8%8b%b1%e8%af%ad%ef%bc%9a%e8%b4%a2%e5%8a%a1%e5%88%86%e6%9e%90%e8%a7%a3%e8%af%bb\/","title":{"rendered":"74.\u5546\u52a1\u82f1\u8bed\uff1a\u8d22\u52a1\u5206\u6790\u89e3\u8bfb"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u4e86\u89e3\u66f4\u591a<a href=\"https:\/\/openhub365.cn\/index.php\/2026\/05\/29\/%e7%9c%81%e7%95%a5%e5%8f%a5%e9%ab%98%e9%a2%91%e6%98%93%e9%94%99%e8%a6%81%e7%82%b9%e7%9b%ae%e5%bd%95\/\" data-type=\"post\" data-id=\"10116\">\u7701\u7565\u53e5\u9ad8\u9891\u6613\u9519\u8981\u70b9\u76ee\u5f55<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">151.&nbsp;liquidity buffer<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/l\u026a\u02c8kw\u026ad\u0259ti \u02c8b\u028cf\u0259(r)\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u6d41\u52a8\u6027\u7f13\u51b2\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4f01\u4e1a\u9884\u7559\u7684\u9ad8\u6d41\u52a8\u6027\u8d44\u91d1\uff0c\u5e94\u5bf9\u7a81\u53d1\u8d44\u91d1\u7f3a\u53e3<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aWe maintain sufficient liquidity buffer to cope with market shocks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6211\u4eec\u4fdd\u6709\u5145\u8db3\u6d41\u52a8\u6027\u7f13\u51b2\uff0c\u5e94\u5bf9\u5e02\u573a\u51b2\u51fb\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">152.&nbsp;contractual liability<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/k\u0259n\u02c8tr\u00e6kt\u0283u\u0259l \u02ccla\u026a\u0259\u02c8b\u026al\u0259ti\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5408\u540c\u8d1f\u503a\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u9884\u6536\u5ba2\u6237\u6b3e\u9879\u3001\u5c1a\u672a\u5c65\u884c\u5c65\u7ea6\u4e49\u52a1\u5f62\u6210\u7684\u8d1f\u503a<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aPrepaid service fees are classified as contractual liability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u9884\u6536\u670d\u52a1\u8d39\u5f52\u7c7b\u4e3a\u5408\u540c\u8d1f\u503a\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">153.&nbsp;credit spread<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8kred\u026at spred\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u4fe1\u7528\u5229\u5dee\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4f01\u4e1a\u503a\u5238\u4e0e\u65e0\u98ce\u9669\u56fd\u503a\u4e4b\u95f4\u7684\u5229\u7387\u5dee\u989d\uff0c\u4ee3\u8868\u4fe1\u7528\u98ce\u9669\u6ea2\u4ef7<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aThe credit spread widened amid industry revenue decline.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u884c\u4e1a\u8425\u6536\u4e0b\u6ed1\u671f\u95f4\uff0c\u4fe1\u7528\u5229\u5dee\u6301\u7eed\u8d70\u9614\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">154.&nbsp;amortization schedule<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u0259\u02ccm\u0254\u02d0ta\u026a\u02c8ze\u026a\u0283n \u02c8\u0283edju\u02d0l\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u644a\u9500\u660e\u7ec6\u8868\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5217\u660e\u6bcf\u671f\u65e0\u5f62\u8d44\u4ea7\u644a\u9500\u91d1\u989d\u3001\u5269\u4f59\u8d26\u9762\u4ef7\u503c\u7684\u8868\u683c<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aThe finance team updates the amortization schedule monthly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u8d22\u52a1\u56e2\u961f\u6bcf\u6708\u66f4\u65b0\u644a\u9500\u660e\u7ec6\u8868\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">155.&nbsp;depreciation schedule<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/d\u026a\u02ccpri\u02d0\u0283i\u02c8e\u026a\u0283n \u02c8\u0283edju\u02d0l\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u6298\u65e7\u660e\u7ec6\u8868\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u8bb0\u5f55\u56fa\u5b9a\u8d44\u4ea7\u6bcf\u671f\u6298\u65e7\u3001\u5269\u4f59\u6b8b\u503c\u7684\u6838\u7b97\u8868\u683c<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aWe check the depreciation schedule before quarterly closing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u5b63\u5ea6\u7ed3\u8d26\u524d\u6838\u5bf9\u6298\u65e7\u660e\u7ec6\u8868\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">156.&nbsp;non-operating income<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/n\u0252n \u02c8\u0252p\u0259re\u026at\u026a\u014b \u02c8\u026ank\u028cm\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u975e\u8425\u4e1a\u6536\u76ca\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4e0e\u4e3b\u8425\u4e1a\u52a1\u65e0\u5173\u7684\u96f6\u661f\u6536\u76ca\uff0c\u4e0d\u542b\u65e5\u5e38\u7ecf\u8425\u6240\u5f97<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aInterest income from bank deposits belongs to non-operating income.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u94f6\u884c\u5b58\u6b3e\u5229\u606f\u5c5e\u4e8e\u975e\u8425\u4e1a\u6536\u76ca\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">157.&nbsp;non-operating expense<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/n\u0252n \u02c8\u0252p\u0259re\u026at\u026a\u014b \u026ak\u02c8spens\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u975e\u8425\u4e1a\u652f\u51fa\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4e3b\u8425\u4e1a\u52a1\u4ee5\u5916\u4ea7\u751f\u7684\u652f\u51fa\uff0c\u5982\u7f5a\u6b3e\u3001\u6295\u8d44\u4e8f\u635f<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aInvestment loss is recorded as non-operating expense.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6295\u8d44\u4e8f\u635f\u8ba1\u5165\u975e\u8425\u4e1a\u652f\u51fa\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">158.&nbsp;annualized rate<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8\u00e6nju\u0259la\u026azd re\u026at\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5e74\u5316\u6bd4\u7387\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5c06\u6708\u5ea6\u3001\u5b63\u5ea6\u77ed\u671f\u6570\u636e\u6362\u7b97\u4e3a\u5168\u5e74\u7b49\u6548\u6307\u6807<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aThe quarterly profit converted to an annualized rate of 15%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u5b63\u5ea6\u5229\u6da6\u6362\u7b97\u540e\u7684\u5e74\u5316\u6bd4\u7387\u4e3a15%\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">159.&nbsp;gross margin per unit<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u0261r\u0259\u028as \u02c8m\u0251\u02d0d\u0292\u026an p\u025c\u02d0 \u02c8ju\u02d0n\u026at\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5355\u4f4d\u6bdb\u5229\u7387\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5355\u4ef6\u4ea7\u54c1\u552e\u4ef7\u51cf\u53bb\u5355\u4ef6\u751f\u4ea7\u6210\u672c\u540e\u7684\u76c8\u5229\u7a7a\u95f4<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aHigh-end goods carry a much higher gross margin per unit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u9ad8\u7aef\u5355\u54c1\u5355\u4f4d\u6bdb\u5229\u7387\u9ad8\u51fa\u8bb8\u591a\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">160.&nbsp;average collection period<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8\u00e6v\u0259r\u026ad\u0292 k\u0259\u02c8lek\u0283n \u02c8p\u026a\u0259ri\u0259d\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5e73\u5747\u56de\u6b3e\u5468\u671f\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4f01\u4e1a\u6536\u56de\u5168\u90e8\u5e94\u6536\u8d26\u6b3e\u6240\u9700\u7684\u5e73\u5747\u5929\u6570<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aWe shortened the average collection period from 60 to 40 days.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6211\u4eec\u5c06\u5e73\u5747\u56de\u6b3e\u5468\u671f\u4ece60\u5929\u7f29\u77ed\u81f340\u5929\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">161.&nbsp;average payment period<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8\u00e6v\u0259r\u026ad\u0292 \u02c8pe\u026am\u0259nt \u02c8p\u026a\u0259ri\u0259d\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5e73\u5747\u4ed8\u6b3e\u5468\u671f\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4f01\u4e1a\u652f\u4ed8\u4f9b\u5e94\u5546\u5e94\u4ed8\u8d26\u6b3e\u7684\u5e73\u5747\u65f6\u957f<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aExtending average payment period eases short-term cash pressure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u62c9\u957f\u5e73\u5747\u4ed8\u6b3e\u5468\u671f\u7f13\u89e3\u77ed\u671f\u73b0\u91d1\u538b\u529b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">162.&nbsp;obsolescence<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02cc\u0252bs\u0259\u02c8lesns\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u8d44\u4ea7\u9648\u65e7\u635f\u8017\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u8bbe\u5907\u3001\u5b58\u8d27\u56e0\u6280\u672f\u6dd8\u6c70\u3001\u8fc7\u65f6\u4ea7\u751f\u7684\u4ef7\u503c\u635f\u8017<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aElectronics inventory suffers rapid obsolescence each year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u7535\u5b50\u5b58\u8d27\u6bcf\u5e74\u90fd\u4f1a\u5feb\u901f\u51fa\u73b0\u9648\u65e7\u635f\u8017\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">163.&nbsp;carrying amount<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8k\u00e6ri\u026a\u014b \u0259\u02c8ma\u028ant\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u8d26\u9762\u4f59\u989d\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u8d44\u4ea7\u539f\u59cb\u6210\u672c\u6263\u9664\u7d2f\u8ba1\u6298\u65e7\u3001\u644a\u9500\u540e\u7684\u8d26\u9762\u91d1\u989d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aThe carrying amount of the machine fell after five years of use.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u8bbe\u5907\u4f7f\u7528\u4e94\u5e74\u540e\u8d26\u9762\u4f59\u989d\u6301\u7eed\u964d\u4f4e\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">164.&nbsp;economic useful life<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02cci\u02d0k\u0259\u02c8n\u0252m\u026ak \u02c8ju\u02d0sfl la\u026af\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u7ecf\u6d4e\u4f7f\u7528\u5e74\u9650\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u56fa\u5b9a\u8d44\u4ea7\u53ef\u4ea7\u751f\u7ecf\u6d4e\u6536\u76ca\u7684\u9884\u4f30\u4f7f\u7528\u5468\u671f<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aProduction equipment has an economic useful life of 8 years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u751f\u4ea7\u8bbe\u5907\u7ecf\u6d4e\u4f7f\u7528\u5e74\u9650\u4e3a8\u5e74\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">165.&nbsp;residual claim<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/r\u026a\u02c8z\u026ad\u0292u\u0259l kle\u026am\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5269\u4f59\u7d22\u53d6\u6743\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4f01\u4e1a\u6e05\u7b97\u540e\uff0c\u80a1\u4e1c\u5bf9\u6263\u9664\u8d1f\u503a\u540e\u5269\u4f59\u8d44\u4ea7\u7684\u7d22\u53d6\u6743\u5229<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aOrdinary shareholders hold the residual claim of the company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u666e\u901a\u80a1\u80a1\u4e1c\u62e5\u6709\u4f01\u4e1a\u5269\u4f59\u7d22\u53d6\u6743\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">166.&nbsp;risk premium<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/r\u026ask \u02c8pri\u02d0mi\u0259m\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u98ce\u9669\u6ea2\u4ef7\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u6295\u8d44\u8005\u4e3a\u627f\u62c5\u66f4\u9ad8\u7ecf\u8425\u98ce\u9669\u8981\u6c42\u7684\u989d\u5916\u6536\u76ca\u8865\u507f<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aSmall enterprises must offer higher risk premium to attract investors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u4e2d\u5c0f\u4f01\u4e1a\u9700\u63d0\u4f9b\u66f4\u9ad8\u98ce\u9669\u6ea2\u4ef7\u5438\u5f15\u6295\u8d44\u65b9\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">167.&nbsp;sunk investment<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/s\u028c\u014bk \u026an\u02c8vestm\u0259nt\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u6c89\u6ca1\u6295\u8d44\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5df2\u7ecf\u6295\u5165\u3001\u65e0\u6cd5\u64a4\u56de\u6536\u56de\u7684\u524d\u671f\u9879\u76ee\u8d44\u91d1<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aDo not rely on sunk investment when judging new project value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u8bc4\u5224\u65b0\u9879\u76ee\u4ef7\u503c\u65f6\u4e0d\u8981\u8003\u91cf\u6c89\u6ca1\u6295\u8d44\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">168.&nbsp;operating surplus<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8\u0252p\u0259re\u026at\u026a\u014b \u02c8s\u025c\u02d0pl\u0259s\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u7ecf\u8425\u76c8\u4f59\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4e3b\u8425\u4e1a\u52a1\u6536\u5165\u6263\u9664\u8fd0\u8425\u5168\u90e8\u6210\u672c\u540e\u7684\u7ed3\u4f59<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aCost optimization generated stable monthly operating surplus.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6210\u672c\u4f18\u5316\u5e26\u6765\u7a33\u5b9a\u6708\u5ea6\u7ecf\u8425\u76c8\u4f59\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">169.&nbsp;operating deficit<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8\u0252p\u0259re\u026at\u026a\u014b \u02c8def\u026as\u026at\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u7ecf\u8425\u8d64\u5b57\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4e3b\u8425\u4e1a\u52a1\u6536\u5165\u4e0d\u8db3\u4ee5\u8986\u76d6\u65e5\u5e38\u8fd0\u8425\u6210\u672c\u7684\u7f3a\u53e3<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aSluggish sales led to continuous operating deficit last half year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u9500\u552e\u75b2\u8f6f\u5bfc\u81f4\u8fc7\u53bb\u534a\u5e74\u6301\u7eed\u7ecf\u8425\u8d64\u5b57\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">170.&nbsp;tax base<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/t\u00e6ks be\u026as\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u8ba1\u7a0e\u57fa\u7840\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u7a0e\u6cd5\u89c4\u5b9a\u7528\u4e8e\u8ba1\u7b97\u8d44\u4ea7\u3001\u8d1f\u503a\u5e94\u7a0e\u91d1\u989d\u7684\u57fa\u6570<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aThe tax base of fixed assets differs from accounting carrying value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u56fa\u5b9a\u8d44\u4ea7\u8ba1\u7a0e\u57fa\u7840\u4e0e\u4f1a\u8ba1\u8d26\u9762\u4f59\u989d\u5b58\u5728\u5dee\u5f02\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">171.&nbsp;taxable temporary difference<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8t\u00e6ks\u0259bl \u02c8tempr\u0259ri \u02c8d\u026afr\u0259ns\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5e94\u7eb3\u7a0e\u6682\u65f6\u6027\u5dee\u5f02\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u8d44\u4ea7\u8d26\u9762\u9ad8\u4e8e\u8ba1\u7a0e\u57fa\u7840\uff0c\u672a\u6765\u4ea7\u751f\u7eb3\u7a0e\u4e49\u52a1\u7684\u5dee\u989d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aAsset fair value increase creates taxable temporary difference.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u8d44\u4ea7\u516c\u5141\u4ef7\u503c\u4e0a\u6da8\u5f62\u6210\u5e94\u7eb3\u7a0e\u6682\u65f6\u6027\u5dee\u5f02\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">172.&nbsp;deductible temporary difference<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/d\u026a\u02c8d\u028ckt\u0259bl \u02c8tempr\u0259ri \u02c8d\u026afr\u0259ns\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u53ef\u62b5\u6263\u6682\u65f6\u6027\u5dee\u5f02\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u8d44\u4ea7\u8d26\u9762\u4f4e\u4e8e\u8ba1\u7a0e\u57fa\u7840\uff0c\u672a\u6765\u53ef\u62b5\u51cf\u7a0e\u6b3e\u7684\u5dee\u989d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aAsset impairment will generate deductible temporary difference.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u8d44\u4ea7\u51cf\u503c\u4f1a\u4ea7\u751f\u53ef\u62b5\u6263\u6682\u65f6\u6027\u5dee\u5f02\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">173.&nbsp;profit dilution<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8pr\u0252f\u026at da\u026a\u02c8lju\u02d0\u0283n\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5229\u6da6\u644a\u8584\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u589e\u53d1\u65b0\u80a1\u3001\u53ef\u8f6c\u503a\u8f6c\u80a1\u5bfc\u81f4\u6bcf\u80a1\u6536\u76ca\u88ab\u644a\u8584\u51cf\u5c11<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aNew stock offering triggered obvious profit dilution this quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u672c\u5b63\u5ea6\u65b0\u80a1\u53d1\u884c\u9020\u6210\u660e\u663e\u5229\u6da6\u644a\u8584\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">174.&nbsp;fully diluted EPS<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8f\u028ali da\u026a\u02c8lju\u02d0t\u026ad \u02cci\u02d0 p\u026a \u02c8es\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5b8c\u5168\u7a00\u91ca\u6bcf\u80a1\u6536\u76ca\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5047\u8bbe\u5168\u90e8\u53ef\u8f6c\u503a\u3001\u671f\u6743\u884c\u6743\u540e\u7684\u6700\u4f4e\u6bcf\u80a1\u6536\u76ca<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aInvestors pay close attention to fully diluted EPS for valuation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6295\u8d44\u8005\u4f30\u503c\u65f6\u91cd\u70b9\u5173\u6ce8\u5b8c\u5168\u7a00\u91ca\u6bcf\u80a1\u6536\u76ca\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">175.&nbsp;core working asset<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/k\u0254\u02d0 \u02c8w\u025c\u02d0k\u026a\u014b \u02c8\u00e6set\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u6838\u5fc3\u8425\u8fd0\u8d44\u4ea7\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u652f\u6491\u4e3b\u8425\u4e1a\u52a1\u6301\u7eed\u8fd0\u8f6c\u7684\u6838\u5fc3\u7ecf\u8425\u6027\u8d44\u4ea7<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aInventory and trade receivables are core working assets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u5b58\u8d27\u4e0e\u5e94\u6536\u8d27\u6b3e\u5c5e\u4e8e\u6838\u5fc3\u8425\u8fd0\u8d44\u4ea7\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">176.&nbsp;non-core asset<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/n\u0252n k\u0254\u02d0 \u02c8\u00e6set\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u975e\u6838\u5fc3\u8d44\u4ea7\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4e0e\u4e3b\u8425\u4e1a\u52a1\u65e0\u5173\u3001\u53ef\u5265\u79bb\u5904\u7f6e\u7684\u95f2\u7f6e\u8d44\u4ea7<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aThe group plans to sell non-core asset to improve cash flow.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u96c6\u56e2\u8ba1\u5212\u51fa\u552e\u975e\u6838\u5fc3\u8d44\u4ea7\u4f18\u5316\u73b0\u91d1\u6d41\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">177.&nbsp;liquidity risk<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/l\u026a\u02c8kw\u026ad\u0259ti r\u026ask\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u6d41\u52a8\u6027\u98ce\u9669\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4f01\u4e1a\u65e0\u5145\u8db3\u73b0\u91d1\u507f\u8fd8\u5230\u671f\u503a\u52a1\u3001\u5e94\u4ed8\u65e5\u5e38\u652f\u51fa\u7684\u98ce\u9669<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aOver-reliance on short-term loans amplifies liquidity risk.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u8fc7\u5ea6\u4f9d\u8d56\u77ed\u671f\u8d37\u6b3e\u653e\u5927\u6d41\u52a8\u6027\u98ce\u9669\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">178.&nbsp;solvency risk<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8s\u0252lv\u0259nsi r\u026ask\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u507f\u503a\u98ce\u9669\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u957f\u671f\u8d1f\u503a\u89c4\u6a21\u8fc7\u9ad8\uff0c\u65e0\u529b\u6e05\u507f\u5168\u90e8\u957f\u671f\u503a\u52a1\u7684\u98ce\u9669<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aContinuous loss raises the group\u2019s overall solvency risk.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6301\u7eed\u4e8f\u635f\u62ac\u5347\u96c6\u56e2\u6574\u4f53\u507f\u503a\u98ce\u9669\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">179.&nbsp;budget variance<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8b\u028cd\u0292\u026at \u02c8ve\u0259ri\u0259ns\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u9884\u7b97\u5dee\u5f02\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5b9e\u9645\u6536\u652f\u91d1\u989d\u4e0e\u9884\u5148\u7f16\u5236\u9884\u7b97\u4e4b\u95f4\u7684\u5dee\u989d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aWe analyze positive and negative budget variance every month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6211\u4eec\u6bcf\u6708\u5206\u6790\u6b63\u5411\u3001\u8d1f\u5411\u9884\u7b97\u5dee\u5f02\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">180.&nbsp;favorable variance<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8fe\u026av\u0259r\u0259bl \u02c8ve\u0259ri\u0259ns\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u6709\u5229\u5dee\u5f02\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5b9e\u9645\u6210\u672c\u4f4e\u4e8e\u9884\u7b97\u3001\u5b9e\u9645\u6536\u5165\u9ad8\u4e8e\u9884\u7b97\u7684\u6b63\u5411\u5dee\u989d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aLower raw material cost brought favorable variance on expenses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u539f\u6750\u6599\u964d\u4ef7\u5e26\u6765\u8d39\u7528\u7aef\u6709\u5229\u5dee\u5f02\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">181.&nbsp;unfavorable variance<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u028cn\u02c8fe\u026av\u0259r\u0259bl \u02c8ve\u0259ri\u0259ns\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u4e0d\u5229\u5dee\u5f02\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5b9e\u9645\u6210\u672c\u9ad8\u4e8e\u9884\u7b97\u3001\u5b9e\u9645\u6536\u5165\u4f4e\u4e8e\u9884\u7b97\u7684\u8d1f\u5411\u5dee\u989d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aRising logistics cost caused unfavorable variance in operating cost.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u7269\u6d41\u6da8\u4ef7\u9020\u6210\u8fd0\u8425\u6210\u672c\u4e0d\u5229\u5dee\u5f02\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">182.&nbsp;consolidated revenue<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/k\u0259n\u02c8s\u0252l\u026ade\u026at\u026ad \u02c8rev\u0259nju\u02d0\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5408\u5e76\u8425\u4e1a\u6536\u5165\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u96c6\u56e2\u5168\u90e8\u5b50\u516c\u53f8\u62b5\u6d88\u5185\u90e8\u4ea4\u6613\u540e\u7684\u603b\u8425\u6536<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aConsolidated revenue rose 12% driven by overseas subsidiaries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6d77\u5916\u5b50\u516c\u53f8\u62c9\u52a8\u5408\u5e76\u8425\u4e1a\u6536\u5165\u589e\u957f12%\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">183.&nbsp;standalone profit<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02ccst\u00e6nd\u0259\u02c8l\u0259\u028an \u02c8pr\u0252f\u026at\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5355\u4f53\u5229\u6da6\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5355\u5bb6\u6bcd\u516c\u53f8\u3001\u4e0d\u5305\u542b\u4e0b\u5c5e\u5b50\u516c\u53f8\u7684\u72ec\u7acb\u8d22\u52a1\u5229\u6da6<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aStandalone profit only reflects parent company\u2019s own business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u5355\u4f53\u5229\u6da6\u4ec5\u4f53\u73b0\u6bcd\u516c\u53f8\u81ea\u8eab\u7ecf\u8425\u4e1a\u52a1\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">184.&nbsp;capital outflow<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8k\u00e6p\u026atl \u02c8a\u028atfl\u0259\u028a\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u8d44\u672c\u6d41\u51fa\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4f01\u4e1a\u5bf9\u5916\u6295\u8d44\u3001\u507f\u8fd8\u503a\u52a1\u3001\u5206\u7ea2\u4ea7\u751f\u7684\u8d44\u91d1\u5916\u6d41<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aLarge equipment purchase triggered massive capital outflow.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u5927\u989d\u8bbe\u5907\u91c7\u8d2d\u5f15\u53d1\u5927\u89c4\u6a21\u8d44\u672c\u6d41\u51fa\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">185.&nbsp;capital inflow<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8k\u00e6p\u026atl \u02c8\u026anfl\u0259\u028a\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u8d44\u672c\u6d41\u5165\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u80a1\u6743\u878d\u8d44\u3001\u56de\u6b3e\u3001\u6295\u8d44\u5206\u7ea2\u5e26\u6765\u7684\u8d44\u91d1\u6d41\u5165<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aNew round financing brought strong capital inflow this month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u672c\u8f6e\u878d\u8d44\u4e3a\u672c\u6708\u5e26\u6765\u5927\u989d\u8d44\u672c\u6d41\u5165\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">186.&nbsp;base period<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/be\u026as \u02c8p\u026a\u0259ri\u0259d\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u57fa\u671f\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u8d22\u52a1\u5bf9\u6bd4\u5206\u6790\u4e2d\u4f5c\u4e3a\u53c2\u7167\u57fa\u51c6\u7684\u5386\u53f2\u4f1a\u8ba1\u5468\u671f<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aWe take last fiscal year as the base period for growth calculation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6211\u4eec\u5c06\u4e0a\u4e00\u8d22\u5e74\u4f5c\u4e3a\u8ba1\u7b97\u589e\u901f\u7684\u57fa\u671f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">187.&nbsp;current period<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8k\u028cr\u0259nt \u02c8p\u026a\u0259ri\u0259d\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u62a5\u544a\u671f\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5f53\u524d\u6b63\u5728\u6838\u7b97\u3001\u51fa\u5177\u62a5\u8868\u7684\u4f1a\u8ba1\u5468\u671f<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aAll fluctuation data compare base period with current period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6240\u6709\u6ce2\u52a8\u6570\u636e\u5747\u5bf9\u6bd4\u57fa\u671f\u4e0e\u62a5\u544a\u671f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">188.&nbsp;residual margin<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/r\u026a\u02c8z\u026ad\u0292u\u0259l \u02c8m\u0251\u02d0d\u0292\u026an\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5269\u4f59\u5229\u6da6\u7387\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u6263\u9664\u5168\u90e8\u56fa\u5b9a\u3001\u53d8\u52a8\u6210\u672c\u540e\u6700\u7ec8\u7559\u5b58\u7684\u76c8\u5229\u5360\u6bd4<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aScale expansion helps lift long-term residual margin steadily.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u89c4\u6a21\u6269\u5f20\u6709\u52a9\u4e8e\u7a33\u6b65\u62ac\u5347\u957f\u671f\u5269\u4f59\u5229\u6da6\u7387\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">189.&nbsp;contract asset<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8k\u0252ntr\u00e6kt \u02c8\u00e6set\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5408\u540c\u8d44\u4ea7\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5df2\u5c65\u7ea6\u3001\u4ec5\u672a\u5230\u6536\u6b3e\u65f6\u70b9\u5f62\u6210\u7684\u5e94\u6536\u7c7b\u8d44\u4ea7<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aLong-term construction projects generate large contract assets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u957f\u671f\u5de5\u7a0b\u9879\u76ee\u4ea7\u751f\u5927\u989d\u5408\u540c\u8d44\u4ea7\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">190.&nbsp;write-down<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8ra\u026at da\u028an\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u8d44\u4ea7\u51cf\u503c\u4e0b\u8c03\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u8c03\u4f4e\u8d44\u4ea7\u8d26\u9762\u4ef7\u503c\uff0c\u786e\u8ba4\u5f53\u671f\u51cf\u503c\u635f\u5931<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aInventory write-down cut quarterly profit sharply.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u5b58\u8d27\u51cf\u503c\u4e0b\u8c03\u5927\u5e45\u524a\u51cf\u5b63\u5ea6\u5229\u6da6\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">191.&nbsp;equity multiplier<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8ekw\u0259ti \u02c8m\u028clt\u026apla\u026a\u0259(r)\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u6743\u76ca\u4e58\u6570\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u603b\u8d44\u4ea7\u9664\u4ee5\u80a1\u4e1c\u6743\u76ca\uff0c\u8861\u91cf\u8d22\u52a1\u6760\u6746\u653e\u5927\u500d\u6570<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aA high equity multiplier means heavy reliance on debt funding.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u9ad8\u6743\u76ca\u4e58\u6570\u4ee3\u8868\u7ecf\u8425\u9ad8\u5ea6\u4f9d\u8d56\u503a\u52a1\u878d\u8d44\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">192.&nbsp;cash yield<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/k\u00e6\u0283 ji\u02d0ld\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u73b0\u91d1\u6536\u76ca\u7387\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u7ecf\u8425\u51c0\u73b0\u91d1\u6d41\u4e0e\u4f01\u4e1a\u603b\u6295\u5165\u8d44\u672c\u7684\u6bd4\u503c<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aCash yield better reflects real business profitability than book profit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u73b0\u91d1\u6536\u76ca\u7387\u6bd4\u8d26\u9762\u5229\u6da6\u66f4\u80fd\u4f53\u73b0\u771f\u5b9e\u7ecf\u8425\u76c8\u5229\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">193.&nbsp;overhead absorption<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8\u0259\u028av\u0259hed \u0259b\u02c8z\u0254\u02d0p\u0283n\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5236\u9020\u8d39\u7528\u5206\u644a\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5c06\u8f66\u95f4\u95f4\u63a5\u5f00\u9500\u5206\u644a\u81f3\u6bcf\u4ef6\u4ea7\u6210\u54c1\u6210\u672c<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aWe adopt output quantity as the basis for overhead absorption.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6211\u4eec\u4ee5\u4ea7\u91cf\u4f5c\u4e3a\u5236\u9020\u8d39\u7528\u5206\u644a\u4f9d\u636e\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">194.&nbsp;cost benchmarking<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/k\u0252st \u02c8bent\u0283m\u0251\u02d0k\u026a\u014b\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u6210\u672c\u5bf9\u6807\u5206\u6790\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5c06\u81ea\u8eab\u6210\u672c\u6307\u6807\u4e0e\u884c\u4e1a\u5934\u90e8\u4f01\u4e1a\u6a2a\u5411\u5bf9\u6bd4<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aCost benchmarking finds inefficient expenditure links.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6210\u672c\u5bf9\u6807\u5206\u6790\u627e\u51fa\u4f4e\u6548\u652f\u51fa\u73af\u8282\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">195.&nbsp;profit ceiling<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8pr\u0252f\u026at \u02c8si\u02d0l\u026a\u014b\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5229\u6da6\u4e0a\u9650\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u53d7\u5e02\u573a\u89c4\u6a21\u3001\u6210\u672c\u7ea6\u675f\u6240\u80fd\u8fbe\u5230\u7684\u6700\u9ad8\u76c8\u5229\u6c34\u5e73<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aMarket saturation sets a clear profit ceiling for mature products.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u5e02\u573a\u9971\u548c\u4e3a\u6210\u719f\u4ea7\u54c1\u5212\u5b9a\u660e\u786e\u5229\u6da6\u4e0a\u9650\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">196.&nbsp;profit floor<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8pr\u0252f\u026at fl\u0254\u02d0(r)\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u5229\u6da6\u5e95\u7ebf\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u4f01\u4e1a\u7ef4\u6301\u6b63\u5e38\u8fd0\u8425\u6240\u9700\u7684\u6700\u4f4e\u76c8\u5229\u6807\u51c6<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aWe set profit floor to guarantee regular R&amp;D investment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6211\u4eec\u8bbe\u5b9a\u5229\u6da6\u5e95\u7ebf\u4fdd\u969c\u5e38\u6001\u5316\u7814\u53d1\u6295\u5165\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">197.&nbsp;inflation adjustment<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u026an\u02c8fle\u026a\u0283n \u0259\u02c8d\u0292\u028cstm\u0259nt\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u901a\u80c0\u8c03\u6574\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5254\u9664\u7269\u4ef7\u4e0a\u6da8\u5f71\u54cd\uff0c\u8fd8\u539f\u8d22\u52a1\u6570\u636e\u771f\u5b9e\u4ef7\u503c<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aInflation adjustment restores the real growth of sales revenue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u901a\u80c0\u8c03\u6574\u8fd8\u539f\u9500\u552e\u6536\u5165\u771f\u5b9e\u589e\u957f\u6c34\u5e73\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">198.&nbsp;valuation multiple<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02ccv\u00e6lju\u02c8e\u026a\u0283n \u02c8m\u028clt\u026apl\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u4f30\u503c\u4e58\u6570\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u5e02\u76c8\u7387\u3001\u5e02\u51c0\u7387\u7b49\u7528\u4e8e\u4f01\u4e1a\u4f30\u503c\u7684\u500d\u6570\u6307\u6807<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aThe industry average valuation multiple is 18 times earnings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u884c\u4e1a\u5e73\u5747\u4f30\u503c\u4e58\u6570\u4e3a18\u500d\u5e02\u76c8\u7387\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">199.&nbsp;capital turnover<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8k\u00e6p\u026atl \u02c8t\u025c\u02d0n\u0259\u028av\u0259(r)\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u8d44\u672c\u5468\u8f6c\u7387\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u8425\u4e1a\u6536\u5165\u4e0e\u5e73\u5747\u6295\u5165\u8d44\u672c\u7684\u6bd4\u503c\uff0c\u8861\u91cf\u8d44\u672c\u8fd0\u8f6c\u6548\u7387<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aCapital turnover improves as sales speed up.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u9500\u552e\u63d0\u901f\u5e26\u52a8\u8d44\u672c\u5468\u8f6c\u7387\u63d0\u5347\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">200.&nbsp;interim statement<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\/\u02c8\u026ant\u0259r\u026am \u02c8ste\u026atm\u0259nt\/<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3010\u4e2d\u671f\u8d22\u52a1\u62a5\u8868\u3011<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bcd\u6027\uff1a\u540d\u8bcd\u77ed\u8bed(n.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91ca\u4e49\uff1a\u534a\u5e74\u5ea6\u3001\u5b63\u5ea6\u51fa\u5177\u7684\u9636\u6bb5\u6027\u7b80\u6613\u8d22\u52a1\u62a5\u8868<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u53e5\uff1aWe release interim statement to shareholders every six months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bd1\u6587\uff1a\u6211\u4eec\u6bcf\u534a\u5e74\u5411\u80a1\u4e1c\u62ab\u9732\u4e2d\u671f\u8d22\u52a1\u62a5\u8868\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8bf7\u70b9\u51fb\u8fd4\u56de\u9996\u9875<a href=\"https:\/\/openhub365.cn\/index.php\/2026\/07\/07\/%e5%95%86%e5%8a%a1%e8%8b%b1%e8%af%ad%e8%af%8d%e6%b1%87%e7%9b%ae%e5%bd%95\/\" data-type=\"post\" data-id=\"25150\">\u5546\u52a1\u82f1\u8bed\u8bcd\u6c47\u76ee\u5f55<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4e86\u89e3\u66f4\u591a\u7701\u7565\u53e5\u9ad8\u9891\u6613\u9519\u8981\u70b9\u76ee\u5f55&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[],"class_list":["post-24919","post","type-post","status-publish","format-standard","hentry","category-510"],"_links":{"self":[{"href":"https:\/\/openhub365.cn\/index.php\/wp-json\/wp\/v2\/posts\/24919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/openhub365.cn\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/openhub365.cn\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/openhub365.cn\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/openhub365.cn\/index.php\/wp-json\/wp\/v2\/comments?post=24919"}],"version-history":[{"count":0,"href":"https:\/\/openhub365.cn\/index.php\/wp-json\/wp\/v2\/posts\/24919\/revisions"}],"wp:attachment":[{"href":"https:\/\/openhub365.cn\/index.php\/wp-json\/wp\/v2\/media?parent=24919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/openhub365.cn\/index.php\/wp-json\/wp\/v2\/categories?post=24919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/openhub365.cn\/index.php\/wp-json\/wp\/v2\/tags?post=24919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}