2020骞翠竴绱氶€犲児宸ョ▼甯€婃渚嬪垎鏋愩€嬪熀绀庤│椤岋紙19锛�
鐩搁棞鎺ㄨ枽锛�2020骞翠竴绱氶€犲児宸ョ▼甯€婃渚嬪垎鏋愩€嬪熀绀庤│椤屽尟绺�(浜�)
鐐轰簡鑳藉鍙婃檪鐛插彇2020骞翠竴绱氶€犲児宸ョ▼甯�鑰冭│鏅傞枔銆佸牨鍚嶆檪闁�绛夎€冭│鏅傞枔绡€(ji茅)榛�锛岃€冪敓閭勫彲浠�“ 鍏嶈不闋愮磩鐭俊鎻愰啋”銆�
鏌愪紒妤�(y猫)鎿姇璩囧缓瑷竴闋呯敓鐢�(ch菐n)鎬ч爡鐩�锛屽悇闋呭熀绀庢暩(sh霉)鎿�(j霉)濡備笅锛�
1.闋呯洰寤鸿ō鏈�1骞�锛岀2骞撮枊濮嬫姇鍏ョ敓鐢�(ch菐n)缍�(j墨ng)鐕燂紝閬嬬嚐鏈�8骞�銆�
2.寤鸿ō鏈熼枔涓€娆℃€ф姇鍏ュ缓瑷姇璩囬鐐�850钀厓锛屽叏閮ㄥ舰鎴愬浐瀹氳硣鐢�(ch菐n)銆傚浐瀹氳硣鐢�(ch菐n)浣跨敤骞撮檺鐐�8骞�锛屽埌鏈熼爯瑷堝噲娈樺€肩巼鐐�4%锛屾寜鐓у钩鍧囧勾闄愭硶瑷堢畻鎶樿垔銆�
3.寤鸿ō鏈熻哺娆�500钀厓锛岃哺娆惧勾鍒╃巼鐐�6.6%锛岄亱鐕熸湡鍓�6骞存寜鐓х瓑椤嶆湰鎭硶鍎熼倓銆�
4.娴佸嫊璩囬噾鎶曞叆鐐�200钀厓锛屽湪閬嬬嚐鏈熺殑鍓�2骞村潎鍕绘姇鍏�锛岄亱鐕熸湡鏈叏椤嶅洖鏀�锛屾祦鍕曡硣閲戜締婧愬叏閮ㄧ偤閵€琛岃哺娆�锛岃哺娆惧勾鍒╃巼鐐�3.5%锛岄倓娆炬柟寮忕偤閬嬬嚐鏈熷収(n猫i)姣忓勾鏈敮浠樺埄鎭紝闋呯洰鏈熸湯涓€娆℃€у劅閭勬湰閲�銆�
5.閬嬬嚐鏈熺1骞寸敓鐢�(ch菐n)璨犺嵎鐐�60%锛岀2骞撮仈鐢�(ch菐n)銆�
6.閬嬬嚐鏈熷収(n猫i)姝e父骞翠唤鍚勫勾鐨勯姺鍞敹鍏ョ偤450钀厓锛岀稉(j墨ng)鐕熸垚鏈偤200钀厓銆傞亱鐕熸湡绗�1骞寸嚐妤�(y猫)鏀跺叆鍜岀稉(j墨ng)鐕熸垚鏈潎鎸夌収姝e父骞翠唤鐨�60%瑷堢畻銆�
7.浼佹キ(y猫)鎵€寰楃▍绋呯巼鐐�33%锛屼笂杩板悇闋呰不鐢ㄥ強鏀跺叆鍧囩偤涓嶅惈澧炲€肩▍鍍规牸锛屼笉鑰冩叜澧炲€肩▍鍙婄浉闂滈檮鍔犵▍璨荤殑褰遍熆銆�
8.瑭茶妤�(y猫)鍩烘簴鏀剁泭鐜囩偤10%锛屽熀婧栨姇璩囧洖鏀舵湡鐐�7骞�銆�
9.鎶樼従(xi脿n)绯绘暩(sh霉)鍙�3浣嶅皬鏁�(sh霉)锛屽叾浣欏悇闋呰▓绠椾繚鐣�2浣嶅皬鏁�(sh霉)銆�
銆愬晱椤屻€�
1.绶ㄥ埗鍊熸閭勬湰浠樻伅瑷堝妰琛�銆�
2.鍒楀紡瑷堢畻閬嬬嚐鏈熷悇骞寸殑绺芥垚鏈不鐢�銆�
3.绶ㄥ埗瑭查爡鐩姇璩囩従(xi脿n)閲戞祦閲忚〃鍙婂欢闀疯〃銆�
4.瑷堢畻鎵€寰楃▍鍓嶅拰鎵€寰楃▍鍚庨爡鐩潨鎱�(t脿i)銆佸嫊鎱�(t脿i)鎶曡硣鍥炴敹鏈�銆�
5.瑷堢畻鎵€寰楃▍鍓嶅拰鎵€寰楃▍鍚庨爡鐩姇璩囪病鍕欏噲鐝�(xi脿n)鍊笺€�
6.寰炶病鍕欒⿻鍍硅搴﹀垎鏋愯┎闋呯洰鐨勫彲琛屾€у強鐩堝埄鑳藉姏銆�
銆愮炕闋佹煡鐪嬬瓟妗堛€�
鍙冭€冪瓟妗堬細
鍟忛1锛氬缓瑷湡璨告鍒╂伅=(0+500÷2)×6.6%=16.5(钀厓)
闀锋湡鍊熸姣忓勾鎳夐倓鏈伅鍜�=(500+16.5)×(A/P锛�6.6%锛�6)=107.03(钀厓)
鍟忛2锛�
骞存姌鑸婅不=(850+16.5)×(1-4%)÷8=103.98(钀厓)
绗�2骞寸附鎴愭湰璨荤敤=120+103.98+37.59=261.57(钀厓)
绗�3骞寸附鎴愭湰璨荤敤=200+103.98+36.27=340.25(钀厓)
绗�4骞寸附鎴愭湰璨荤敤=200+103.98+31.14=335.12(钀厓)
绗�5骞寸附鎴愭湰璨荤敤=200+103.98+25.67=329.65(钀厓)
绗�6骞寸附鎴愭湰璨荤敤=200+103.98+19.84=323.82(钀厓)
绗�7骞寸附鎴愭湰璨荤敤=200+103.98+13.62=317.60(钀厓)
绗�8銆�9骞寸附鎴愭湰璨荤敤=200+103.98+7.00=310.98(钀厓)
鍟忛3锛�
瑾�(di脿o)鏁存墍寰楃▍=鎭▍鍓嶅埄娼�(EBIT)×鎵€寰楃▍绋呯巼
鎭▍鍓嶅埄娼�(EBIT)=鐕熸キ(y猫)鏀跺叆-缍�(j墨ng)鐕熸垚鏈�-鎶樿垔璨�
绗�2骞磋(di脿o)鏁存墍寰楃▍=(270-120-103.98)×33%=15.19(钀厓)
绗�3锝�9骞磋(di脿o)鏁存墍寰楃▍=(450-200-103.98)×33%=48.19(钀厓)
鍟忛4锛�
鍟忛5锛�
鎵€寰楃▍鍓嶉爡鐩姇璩囪病鍕欏噲鐝�(xi脿n)鍊硷細FNPV=298.85(钀厓)
鎵€寰楃▍鍚庨爡鐩姇璩囪病鍕欏噲鐝�(xi脿n)鍊硷細FNPV=92.41(钀厓)
鍟忛6锛�
浠ヤ笂灏辨槸灏忕法鏁寸悊鐨�“2020骞翠竴绱氶€犲児宸ョ▼甯€婃渚嬪垎鏋愩€嬪熀绀庤│椤�(19)”锛屼緵寤eぇ鑰冪敓鍙冭€冦€傞粸鎿婁笅鏂�“鍏嶈不涓嬭級”鎸夐垥锛屽厤璨婚牁鍙栦竴绱氶€犲児宸ョ▼甯�姝峰勾鐪熼銆佹ā鎿│椤�鍜岀挵(hu谩n)鐞冪恫(w菐ng)鏍″京缈掕硣鏂�锛屽叏鍔涗互璧村倷鑰�2020骞翠竴绱氶€犲児宸ョ▼甯€冭│銆�
鏈€鏂拌硣瑷�
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