椤帶瑙告懜灞廠A-5A瑗勯櫧寤犲鐩撮姺鎴嚦2016骞�1瀛ｅ害锛屼紒妤�(y猫)閮ㄩ杸鐨勭洿鎺ュ崰鍏剁附璨�(f霉)鍌电殑44%锛岄枔鎺ュ崰鍒颁簡56%
铇囧窞鏃湭鑹炬闆荤鎶€鏈夐檺鍏徃搴ц惤浜庝笂鏈夊ぉ鍫�,涓嬫湁铇囨澀锛屽崈骞存鍙叉枃鍖栧瓡鑲茬殑鍚冲湴鏂囧寲铇囧窞锛屾滑瀵�銆佹滑浜煄闅涢珮閻�锛屾滑瀵у煄闅涢珮閫�锛岃槆鏄嗗お楂橀€熸(g貌u)鎴愪笂娴枫€佹睙铇�銆佹禉姹熶竴灏忔檪缍�(j墨ng)婵熷湀锛岃煬鑱�(li谩n)绂忓竷鏂匠绺ｇ礆甯傝璀界偤姹熻槆鏉卞ぇ闁€鐨勮槆宸炴槅灞�銆傛垜鍙告槸涓€瀹朵互宸ユキ(y猫)瑷�(sh猫)鍌欏強鑷嫊鍖栫敘(ch菐n)鍝侀姺鍞垏鎶€琛�(sh霉)鏈嶅嫏(w霉)鐐轰竴楂旈珮鏂版妧琛�(sh霉)浼佹キ(y猫) 銆� 姝ゅ锛屼緷鎵樺畨寰界渷鎳�(y墨ng)鐢ㄦ妧琛�(sh霉)鐮旂┒闄㈠缓瑷�(sh猫)鐨勨€滃畨寰芥妧琛�(sh霉)杞�(zhu菐n)绉讳腑蹇冣€濓紝渚濇墭鍚堣偉宸ユキ(y猫)澶у(xu茅)寤鸿ō(sh猫)鐨勨€滄櫤鎱ч(y菐ng)鑰佺鎶€鍚堜綔鍩哄湴鈥濅篃鍚屾檪鐛叉壒绱氱鎶€鍚堜綔鍩哄湴
??鎿�(j霉)21涓栫磤(j矛)缍�(j墨ng)婵熷牨閬撹鑰呬簡瑙�锛岄嫾鏉愭垚鏈槸閫犺埞琛屾キ(y猫)鍗犳瘮澶х殑鍘熸枡鎴愭湰锛屾寜鐓ц埞鍨嬩笉鍚屽崰姣斿緸20%鍒�40%涓嶇瓑
鐩墠鍏徃涓昏浠ｇ悊宸ユ帶鍏冨櫒浠舵湁浼烘湇闆绘銆佽畩闋诲櫒銆佷汉姗熺晫闈�銆佸彲绶ㄧ▼鎺у埗鍣≒LC銆傚伐寤犵┖澹撴渚涙埃瑷�(sh猫)瑷堛€佸畨瑁�銆佽(di脿o)瑭�銆併€佷竴姊濋緧鏈嶅嫏(w霉)灏堟キ(y猫)浼佹キ(y猫)銆傝垏鍦嬪収(n猫i)鐪惧鐭ュ悕璩囪唱(zh矛)榻婂叏姗熼浕宸ョ▼鍏徃寤虹珛闀锋湡鎴�(zh脿n)鐣ヨ伅(li谩n)鐩熷悎浣滀紮浼撮棞(gu膩n)绯�锛屾嫇灞曞伐寤犺粖闁撻珮浣庡闆绘埃鎴愬寮峰急闆绘帶鍒舵煖鍙婁簩娆￠厤闆�锛岄珮浣庡姣嶇窔妲�锛岄嫾绲�(ji茅)妲�(g貌u)鐒婃帴鍒堕€狅紝澶惧績褰╅嫾鏉挎埧浠ュ強鐒″〉瀹よ(gu墨)鍔冩柦宸�锛岀┖瑾�(di脿o)銆佸喎姘存銆佸喎鍗绘按濉斻€佹敞濉戞鍛ㄩ倞瑷�(sh猫)鍌�锛屾矕澹撴鍣ㄤ汉锛屾ā婵曟锛岃秴澶у瀷绡€(ji茅)鑳藉伐妤�(y猫)棰�(f膿ng)鎵囩瓑妤�(y猫)鍕�(w霉)銆傚苟寤ｆ硾鎳�(y墨ng)鐢ㄤ簬閶奸惖銆佸喍閲�銆佽兘婧愩€佺煶鍖�銆佹腐鍙�銆佽粚閬撲氦閫氱瓑鐪惧鐨勯噸榛炰紒妤�(y猫)銆傚ぇ鍔涙帹閫插伐妤�(y猫)鍓嶉€茬殑姝ヤ紣銆�
??鎿�(j霉)涓嶅畬鍏ㄧ当(t菕ng)瑷堬紝2016骞存柊寤�銆佹摤寤恒€佸湪寤恒€佹姇鐢�(ch菐n)鐨勭附鐢�(ch菐n)鑳借秴閬�1200钀櫢绲�(lu貌)鐐哄緢澶氫腑灏忛杸绐椾紒妤�(y猫)鎻愪緵鏇村锛屾洿濂�锛屾洿鏈夋晥鐨勫樊鐣板寲绔剁埈锛岀偤浣曚竴瀹氳娌胯憲澶ч杸绐椾紒妤�(y猫)鐨勬€濊矾鍘婚亱浣滃憿?鎵€浠ヤ腑灏忛杸绐椾紒妤�(y猫)姘搁仩(yu菐n)瑕侀(y菐ng)鎴愰偅绋洓鍏╂悘鍗冩枻鐨勬€濈董缈�(x铆)鎱�锛屾垜鍊戝(xu茅)鏈冨皨鎵捐嚜宸辩殑钘嶆捣锛屼笉瑕佺附鏄湪绱呮捣閲屾挄娈� 鍦ㄦ柊寰烽噷鍝堥噷浜炵磵閭︾殑浼婃€濊€冪壒鐝�(xi脿n)鏈夊粻鎴垮収(n猫i)灏囧畨瑁濈敓鐢�(ch菐n)瑷�(sh猫)鍌�锛岃▓鍔�2020骞�6鏈堟姇鍏ラ亱琛�
鍏徃浠ュ叾寮峰媮鐨勫壍(chu脿ng)鏂拌兘鍔涜垏鎶€琛�(sh霉)鍎�(y艒u)鍕㈢珛瓒充簬宸ユ帶琛屾キ(y猫)锛屼富瑕佺敘(ch菐n)鍝佹湁SK绯诲垪浜烘鐣岄潰锛岀洰鍓嶅凡鎿佹湁8闋呰粺浠惰憲浣滄瑠(qu谩n)鍜�6闋呭鐢ㄦ柊鍨嬪皥鍒�锛屾搧鏈�100%鑷富鐭ヨ瓨鐢�(ch菐n)娆�(qu谩n)锛屽苟鐐烘帹鍑虹殑3.5鑻卞浜烘鐣岄潰鐢�(ch菐n)鍝佺殑鍏徃銆傜偤婊胯冻鏃ョ泭寰�(f霉)闆滆€岃嫑鍒荤殑宸ユキ(y猫)鐠�(hu谩n)澧冮渶姹�锛屾垜鍊戠殑绮捐嫳鐮旂櫦(f膩)鍦橀殜鑷村姏浜庣敘(ch菐n)鍝佸壍(chu脿ng)鏂�锛屾帹鍑哄叏鍦嬮鍓�(chu脿ng)瀹夊崜HMI锛屼互鍓�(chu脿ng)閫犵殑瀹㈡埗楂旈锛屽公鍔╀紒妤�(y猫)鎻愰珮鐢熺敘(ch菐n)鏁堢巼鍜岄潏娲绘€с€�鎸夌収瑷堝妰锛�1鏈�30鏃ワ紝娓ら嫾绯讳紒妤�(y猫)鍌垫瑠(qu谩n)浜烘渻璀板氨灏囧彫闁�锛屽皪銆婃袱閶肩郴浼佹キ(y猫)閲嶆暣瑷堝妰(鑽夋)銆嬮€茶琛ㄦ焙鈥濃€滃緢鏃╁氨娑夎冻鍥炴敹铏曠悊宸ヤ綔锛屽苟闁嬪睍鏍兼饯鍐嶇敓璩囨簮闋呯洰
鍏徃楂樺害閲嶈鐢�(ch菐n)鍝佽唱(zh矛)閲�锛屽湪2010骞撮€氶亷iso9001璩�(zh矛)閲忕鐞嗛珨绯昏獚(r猫n)璀夛紝瑷�(sh猫)鍌欐搧鏈夎布鐗囨銆佸洖娴佺剨姗熷拰娉㈠嘲鐒婃锛屽苟鎿佹湁楂樹綆婧挵(hu谩n)娓ō(sh猫)鍌�銆佽€佸寲鎴�銆佺崹绔嬬殑娓│杌熶欢鍙婂皥妤�(y猫)鐨勫椹楀閫茶缍佸畾锛屼娇鐢�(ch菐n)鍝佽唱(zh矛)閲忓緸瑷�(sh猫)瑷�銆佺敓鐢�(ch菐n)鍒板嚭璨ㄩ兘鑳藉緱鍒颁繚璀�銆傞’鎺у湪鍏ㄥ湅鍚勫ぇ鍩庡競閮借ō(sh猫)鏈夎睛浜嬭檿锛屼互鍚勫崁(q奴)鍩熸巿娆�(qu谩n)浠ｇ悊鍟嗘ā寮忛姺鍞紝鎲戝€熻憲鎶€琛�(sh霉)鍎�(y艒u)鍕�锛屽叕鍙镐互楂樻€у児姣旂殑鐢�(ch菐n)鍝佸劒(y艒u)鍕�銆佽唱(zh矛)閲忚垏瀹屽杽鍒颁綅鐨勫皥妤�(y猫)鍖栨湇鍕�(w霉)璐忓緱浜嗗湅鍏�(n猫i)澶栧鎴剁殑渚濊炒鍜屽ソ瑭�銆傚叕鍙稿惛鏀跺厛閫茬殑绠＄悊鐞嗗康锛屼笉鏂锋彁楂樼鐞嗘按骞冲拰缍�(j墨ng)鐕熸晥鐩�锛屼緷闈犳寔绾�(x霉)鍓�(chu脿ng)鏂�锛岃嚧鍔涙墦閫犲伐鎺ч牁(l菒ng)鍩熻憲鍚嶇殑姘戞棌鍝佺墝浼佹キ(y猫)鑰屽姫鍔涘ギ鏂�銆傘€�鍏跺璺熻鍊熼兘婧�(zh菙n)鐭ラ亾鏄偅鍙ュ洖寰�(f霉)鈥斺€斿叾瀵︿笉鍏変綔鐐哄€嬩汉娑堣不鑰呯殑浣犳垜鏈夋檪鏈冪鍒扮己閷㈣姳鐨勭獦澧�锛岄潰灏嶁€滄櫤鑳藉埗閫犫€濋€欓爡瀹忓亯宸ョ▼锛屽皪浜庤€岃█鎯宠鎺ㄥ嫊瀹冨彲涔熸槸闇€瑕佸挤澶ц硣閲戞敮鎸佺殑鍗冲皣鑸夎鐨勭鍗佸眴闁€鍗氭渻锛屼篃鏈夋湜鍦ㄥ睍鏈冨堡娆′笂瀵︾従(xi脿n)鏂�
鑿槬鐟╄〃绀�锛屼腑鍦ｆ櫘寰�(f霉)浜ゆ槸鍏╁湅鐨勫叡鍚屾効鏈�锛岀鍚堝叐鍦嬪拰鍏╁湅鐨勬牴鏈埄鐩婏紝楂旂従(xi脿n)浜嗕竴鍊嬪師鍓囨槸浜哄績鎵€鍚�銆佸ぇ鍕㈡墍瓒�锛岄爢鎳�(y墨ng)浜嗕腑闈炲弸濂藉ぇ鍕�鍦ㄩ亷鍘讳簲骞撮噷锛屾垜鍊戜笉鏂峰湴鏂版妧琛�(sh霉)鍜屾柊鐢�(ch菐n)鍝�锛屽苟灏囧叾鎶曞叆甯傚牬
椤帶瑙告懜灞廠A-5A瑗勯櫧寤犲鐩撮姺鈥濃€滃緢鏃╁氨娑夎冻鍥炴敹铏曠悊宸ヤ綔锛屽苟闁嬪睍鏍兼饯鍐嶇敓璩囨簮闋呯洰
鍏徃绶婅窡鏅備唬瓒ㄥ嫝锛屾墦閫犵稜鑹茬挵(hu谩n)淇濈敓鎱�(t脿i)鏂囨槑宸ユキ(y猫)锛屽€″皫(d菐o)浜烘€у寲銆佹櫤鑳藉寲銆佽嚜鍕曞寲鐨勭悊蹇�锛屾壙鎺ユ暣寤犺嚜鍕曞寲銆佷緵姘ｅ強姘撮浕姘ｈ(gu墨)鍔冨晢锛岃畵宸ユキ(y猫)鏂囧寲鍥炴鑷劧涔嬬編銆傛垜鍊戝皥娉ㄨ€屽煼(zh铆)钁�锛屽湪杩芥眰绮炬箾绉戞妧鐨勯牁(l菒ng)鍩熺珛蹇�锛岀偤楂樺堡娆″鎴堕噺韬墦閫犱匠鏈嶅嫏(w霉)锛涘叕鍙告搧鏈変竴鏀€屾暚妤�(y猫)鐨勫伐绋嬪湗闅�锛屼互绱�(x矛)鑷村懆鍒扮殑鏈嶅嫏(w霉)鎱�(t脿i)搴﹀拰杩芥眰鐨勫皥妤�(y猫)绮剧锛屽繝瀵︾殑灞ヨ钁楄布蹇冩湇鍕�(w霉)瀹㈡埗鐨勫叕鍙镐娇鍛�銆�鍏跺璺熻鍊熼兘婧�(zh菙n)鐭ラ亾鏄偅鍙ュ洖寰�(f霉)鈥斺€斿叾瀵︿笉鍏変綔鐐哄€嬩汉娑堣不鑰呯殑浣犳垜鏈夋檪鏈冪鍒扮己閷㈣姳鐨勭獦澧冿紝闈㈠皪鈥滄櫤鑳藉埗閫犫€濋€欓爡瀹忓亯宸ョ▼锛屽皪浜庤€岃█鎯宠鎺ㄥ嫊瀹冨彲涔熸槸闇€瑕佸挤澶ц硣閲戞敮鎸佺殑鍗冲皣鑸夎鐨勭鍗佸眴闁€鍗氭渻锛屼篃鏈夋湜鍦ㄥ睍鏈冨堡娆′笂瀵︾従(xi脿n)鏂�
鍏徃浠モ€滅偤瀹㈡埗鎻愪緵鍎�(y艒u)璩�(zh矛)鐢�(ch菐n)鍝佸拰鍎�(y艒u)璩�(zh矛)鐨勬湇鍕�(w霉)鍓�(chu脿ng)閫犲児鍊�銆佺偤浼佹キ(y猫)鍓�(chu脿ng)閫犳剰鎰�銆佺偤鍝″伐鍓�(chu脿ng)閫犳鏈�銆佺偤绀炬渻鍓�(chu脿ng)閫犳晥鐩娾€濈殑姝峰彶浣垮懡锛屾妸姣忎竴闋呭伐浣滈兘鍋氬埌绮剧泭姹傜簿鈥濈偤瀹楁棬,鐢ㄦ妧琛�(sh霉)鐐烘偍鍏嶈不鎻愪緵瀹屽杽鐨勫敭鍚庢湇鍕�(w霉)銆�鑿槬鐟╄〃绀猴紝涓湥鏅京(f霉)浜ゆ槸鍏╁湅鐨勫叡鍚屾効鏈�锛岀鍚堝叐鍦嬪拰鍏╁湅鐨勬牴鏈埄鐩婏紝楂旂従(xi脿n)浜嗕竴鍊嬪師鍓囨槸浜哄績鎵€鍚�銆佸ぇ鍕㈡墍瓒�锛岄爢鎳�(y墨ng)浜嗕腑闈炲弸濂藉ぇ鍕�鍦ㄩ亷鍘讳簲骞撮噷锛屾垜鍊戜笉鏂峰湴鏂版妧琛�(sh霉)鍜屾柊鐢�(ch菐n)鍝�锛屽苟灏囧叾鎶曞叆甯傚牬
鈥濃€滃緢鏃╁氨娑夎冻鍥炴敹铏曠悊宸ヤ綔锛屽苟闁嬪睍鏍兼饯鍐嶇敓璩囨簮闋呯洰浠栧潶瑷€锛岀暥(d膩ng)鏅傝粖鏄湪鏈湴涓€鍊嬩簩鎵嬭粖鍟嗘墜閲岃卜鐨�锛屼俊瑾撴棪鏃﹁锛岃粖涓嶆槸浜傝鍍圭殑锛岄兘鏄稉(j墨ng)閬庢瑠(qu谩n)濞佽⿻浼扮殑锛岀従(xi脿n)鍦ㄤ締鐪嬶紝闈炲父涓嶅彲淇�
??锛堝洓鍗侊級鍋氬ソ鏀跨瓥闂￠噵宸ヤ綔鐩墠锛岃┎浜嬮爡宸插畬鎴愬伐鍟嗚畩鏇�Zerohedge琛ㄧず锛屸€滃仛鐨勪笉閷紝浣嗘垜鍊戝苟涓嶈卜璩�鏍规摎(j霉)鐧�(f膩)甯冪殑鍓嶄笁瀛ｅ害鍦嬫皯缍�(j墨ng)婵熼亱琛屾儏娉�锛�1-9鏈�锛屽晢鍝佹埧閵峰敭闈㈢⿳鍚屾瘮澧為暦26.9%浠栧潶瑷€锛岀暥(d膩ng)鏅傝粖鏄湪鏈湴涓€鍊嬩簩鎵嬭粖鍟嗘墜閲岃卜鐨勶紝淇¤獡鏃︽棪瑾紝杌婁笉鏄簜瑕佸児鐨�锛岄兘鏄稉(j墨ng)閬庢瑠(qu谩n)濞佽⿻浼扮殑锛岀従(xi脿n)鍦ㄤ締鐪嬶紝闈炲父涓嶅彲淇�
??锛堝洓鍗侊級鍋氬ソ鏀跨瓥闂￠噵宸ヤ綔鐩墠锛岃┎浜嬮爡宸插畬鎴愬伐鍟嗚畩鏇�Zerohedge琛ㄧず锛屸€滃仛鐨勪笉閷紝浣嗘垜鍊戝苟涓嶈卜璩�鏍规摎(j霉)鐧�(f膩)甯冪殑鍓嶄笁瀛ｅ害鍦嬫皯缍�(j墨ng)婵熼亱琛屾儏娉�锛�1-9鏈�锛屽晢鍝佹埧閵峰敭闈㈢⿳鍚屾瘮澧為暦26.9%浠栧潶瑷€锛岀暥(d膩ng)鏅傝粖鏄湪鏈湴涓€鍊嬩簩鎵嬭粖鍟嗘墜閲岃卜鐨勶紝淇¤獡鏃︽棪瑾�锛岃粖涓嶆槸浜傝鍍圭殑锛岄兘鏄稉(j墨ng)閬庢瑠(qu谩n)濞佽⿻浼扮殑锛岀従(xi脿n)鍦ㄤ締鐪�锛岄潪甯镐笉鍙俊
??锛堝洓鍗侊級鍋氬ソ鏀跨瓥闂￠噵宸ヤ綔
??
??鐒″伓
??鍏╁湅姹哄畾鑷叕鍫辩敖缃蹭箣鏃ヨ捣鎭㈠京(f霉)澶т娇绱氬浜ら棞(gu膩n)绯�
??瀹夋湕鏉板崡浜炲壇绺借WaynePannell琛ㄧず锛氣€滃畨鏈楁澃鑷村姏浜庢摯寮靛湪婢冲ぇ鍒╀簽鐨勯杸鎺у畨闃叉キ(y猫)鍕�(w霉)
閫欏氨瑕佹眰浼佹キ(y猫)瑕佹牴鎿�(j霉)鐢ㄦ埗闇€姹傞€茶鏌旀€х敓鐢�(ch菐n)锛屾寜闇€渚涙噳(y墨ng)鈥滀笁鏂扳€濈稉(j墨ng)婵熸槸鏂扮敘(ch菐n)妤�(y猫)銆佹柊妤�(y猫)鎱�(t脿i)銆佹柊鍟嗘キ(y猫)鐢熺敘(ch菐n)娲诲嫊鐨�
??鐜嬪姏瀹夐槻鎶曡硣10鍎勫厓瑕�(gu墨)鍔冭ō(sh猫)瑷堢殑鏅鸿兘鍖栧伐寤犲凡瀹屾垚棣栨闁€闈㈠叏鑷嫊娌栧鎴愬瀷鐢熺敘(ch菐n)绶氳(di脿o)瑭�锛涙槦鏈堝妤�(y猫)閶伴浕宸ュ叿鏅鸿兘鍖栬粖闁撻爡鐩凡鍩烘湰瀹屾垚鎳�(y墨ng)鐢ㄧ殑鍊夊劜鐗╂祦瑕�(gu墨)鍔�锛涚倞澶х帇鐐婂叿鐢�(ch菐n)鍝佹櫤鑳藉寲宸ュ粻鏀归€犲凡瀹屾垚鏁村簳娌栧瓟鍜屾墦纾ㄦ媼鍏夌殑鏁�(sh霉)鎺ч€ｇ窔瑾�(di脿o)瑭�
