{"id":60,"date":"2025-07-18T23:30:00","date_gmt":"2025-07-18T15:30:00","guid":{"rendered":"https:\/\/iproject.work\/?p=60"},"modified":"2026-03-27T23:07:11","modified_gmt":"2026-03-27T15:07:11","slug":"%e4%bc%9a%e8%ae%a1%e5%9f%ba%e7%a1%80%e7%9f%a5%e8%af%86","status":"publish","type":"post","link":"https:\/\/iproject.work\/?p=60","title":{"rendered":"\u4f1a\u8ba1\u57fa\u7840\u77e5\u8bc6"},"content":{"rendered":"\n

\u638c\u63e1\u4f1a\u8ba1\u56db\u5927\u6838\u5fc3\u6982\u5ff5\u662f\u89e3\u8bfb\u4f01\u4e1a\u5065\u5eb7\u72b6\u51b5\u7684\u751f\u5b58\u6280\u80fd<\/strong>\uff0c\u4ee5\u4e0b\u662f\u53bb\u7e41\u5c31\u7b80\u7684\u5b9e\u6218\u6307\u5357\uff0c\u7528\u6700\u76f4\u767d\u7684\u8bed\u8a00\u548c\u6848\u4f8b\u89e3\u6790\u5173\u952e\u6307\u6807\uff1a<\/p>\n\n\n\n

\n\n\n\n

\u4e00\u3001\u6536\u5165 vs \u5229\u6da6\uff1a\u8c01\u5728\u88f8\u6cf3\uff1f<\/strong><\/h3>\n\n\n\n
\u6982\u5ff5<\/strong><\/th>\u672c\u8d28<\/th>\u9677\u9631\u6848\u4f8b<\/th>\u6295\u8d44\u610f\u4e49<\/th><\/tr><\/thead>
\u6536\u5165<\/strong><\/td>\u5356\u8d27\u603b\u91d1\u989d\uff08\u542b\u8d4a\u8d26\uff09<\/td>\u4e50\u89c62016\u5e74\u6536\u5165220\u4ebf\uff0c\u4f4680%\u662f\u5173\u8054\u4ea4\u6613<\/td>\u8b66\u60d5\u5e94\u6536\u8d26\u6b3e\u5360\u6bd4>30%<\/td><\/tr>
\u5229\u6da6<\/strong><\/td>\u771f\u6b63\u843d\u888b\u7684\u6536\u76ca<\/td>\u745e\u5e78\u5496\u5561\u66fe\u865a\u589e\u5229\u6da621\u4ebf<\/td>\u5173\u6ce8\u6263\u975e\u51c0\u5229\u6da6<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

\u6838\u5fc3\u516c\u5f0f<\/strong>\uff1a<\/p>\n\n\n\n

\u6bdb\u5229\u6da6 = \u6536\u5165 - \u751f\u4ea7\u6210\u672c\n\u51c0\u5229\u6da6 = \u6bdb\u5229\u6da6 - \uff08\u7a0e\/\u5229\u606f\/\u7ba1\u7406\u8d39\uff09<\/code><\/pre>\n\n\n\n
\n
\ud83d\udca1 \u5feb\u901f\u8bca\u65ad<\/strong>\uff1a<\/p>\n\n\n\n
    \n
  • \u6bdb\u5229\u7387<20% \u2192 \u7ade\u4e89\u6fc0\u70c8\uff08\u5982\u8d85\u5e02\uff09<\/li>\n\n\n\n
  • \u51c0\u5229\u7387>15% \u2192 \u597d\u751f\u610f\uff08\u5982\u8305\u53f0\u51c0\u5229\u738750%\uff09<\/li>\n<\/ul>\n<\/blockquote>\n\n\n\n
    \n\n\n\n
    \u4e8c\u3001\u73b0\u91d1\u6d41\uff1a\u4f01\u4e1a\u7684\u6c27\u6c14\u74f6<\/strong><\/h3>\n\n\n\n
    \u4e09\u79cd\u73b0\u91d1\u6d41\u7c7b\u578b\uff08\u7f3a\u4e00\u5373\u5371\uff09<\/h4>\n\n\n\n
    \u7c7b\u578b<\/strong><\/th>\u6765\u6e90<\/th>\u5065\u5eb7\u6807\u51c6<\/th>\u6b7b\u4ea1\u4fe1\u53f7<\/th><\/tr><\/thead>
    \u7ecf\u8425\u73b0\u91d1\u6d41<\/strong><\/td>\u5356\u8d27\/\u670d\u52a1\u6536\u7684\u94b1<\/td>>\u51c0\u5229\u6da6\uff08\u5982\u683c\u529b\uff09<\/td>\u8fde\u7eed3\u5e74\u4e3a\u8d1f\uff08\u5982\u6052\u5927\uff09<\/td><\/tr>
    \u6295\u8d44\u73b0\u91d1\u6d41<\/strong><\/td>\u4e70\u5356\u8d44\u4ea7\/\u6295\u8d44\u7684\u6536\u652f<\/td>\u6269\u5f20\u671f\u8d1f\u503c\u6b63\u5e38<\/td>\u6301\u7eed\u5927\u989d\u6d41\u51fa\u65e0\u56de\u62a5<\/td><\/tr>
    \u878d\u8d44\u73b0\u91d1\u6d41<\/strong><\/td>\u501f\u503a\/\u80a1\u6743\u878d\u8d44\u7684\u94b1<\/td>\u5076\u5c14\u4e3a\u6b63\uff08\u53d1\u5c55\u9700\u8981\uff09<\/td>\u957f\u671f\u4f9d\u8d56\u8f93\u8840\u5b58\u6d3b<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
    \u9ec4\u91d1\u6cd5\u5219<\/strong>\uff1a
    \u2705 \u4f18\u8d28\u4f01\u4e1a<\/strong>\uff1a\u7ecf\u8425\u73b0\u91d1\u6d41\u51c0\u989d > \u51c0\u5229\u6da6
    \u274c \u9a97\u5c40\u7279\u5f81<\/strong>\uff1a\u51c0\u5229\u6da6\u9ad8\u4f46\u7ecf\u8425\u73b0\u91d1\u6d41\u6301\u7eed\u4e3a\u8d1f\uff08\u5982\u66b4\u98ce\u5f71\u97f3\uff09<\/p>\n\n\n\n
    \n\n\n\n
    \u4e09\u3001\u8d44\u4ea7\u8d1f\u503a\u8868\uff1a\u4f01\u4e1a\u7684\u4f53\u68c0\u62a5\u544a<\/strong><\/h3>\n\n\n\n
    \u7b80\u5316\u7ed3\u6784\uff08\u5de6\u53f3\u5fc5\u76f8\u7b49\uff01\uff09<\/h4>\n\n\n\n
    \"\"<\/code><\/pre>\n\n\n\n
    \u5173\u952e\u6307\u6807\u901f\u67e5\u8868<\/h4>\n\n\n\n
    \u6307\u6807<\/strong><\/th>\u516c\u5f0f<\/th>\u8b66\u6212\u7ebf<\/th>\u597d\u516c\u53f8\u6848\u4f8b<\/th><\/tr><\/thead>
    \u8d44\u4ea7\u8d1f\u503a\u7387<\/strong><\/td>\u603b\u8d1f\u503a\/\u603b\u8d44\u4ea7<\/td>>70%\u5371\u9669<\/td>\u8305\u53f022%<\/td><\/tr>
    \u901f\u52a8\u6bd4\u7387<\/strong><\/td>(\u73b0\u91d1+\u5e94\u6536)\/\u77ed\u671f\u8d1f\u503a<\/td><1.0\u5371\u9669<\/td>\u957f\u6c5f\u7535\u529b1.8<\/td><\/tr>
    \u5e94\u6536\u5468\u8f6c\u5929\u6570<\/strong><\/td>365\/(\u6536\u5165\/\u5e94\u6536\u8d26\u6b3e)<\/td>>90\u5929\u8b66\u60d5<\/td>\u6d77\u5eb7\u5a01\u89c660\u5929<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
    \n
    \ud83d\udd0d \u5b9e\u6218\u770b\u8868\u6b65\u9aa4<\/strong>\uff1a<\/p>\n\n\n\n
      \n
    1. \u7ffb\u5230\u5408\u5e76\u8d44\u4ea7\u8d1f\u503a\u8868<\/strong><\/li>\n\n\n\n
    2. \u5bf9\u6bd4\u8d27\u5e01\u8d44\u91d1<\/strong>\u548c\u77ed\u671f\u501f\u6b3e<\/strong>\uff08\u73b0\u91d1\u80fd\u5426\u8986\u76d6\u77ed\u503a\uff1f\uff09<\/li>\n\n\n\n
    3. \u68c0\u67e5\u5e94\u6536\u8d26\u6b3e<\/strong>\u589e\u5e45\u662f\u5426\uff1e\u6536\u5165\u589e\u5e45\uff08\u9632\u8d22\u52a1\u9020\u5047\uff09<\/li>\n<\/ol>\n<\/blockquote>\n\n\n\n
      \n\n\n\n
      \u56db\u3001\u56db\u5927\u6982\u5ff5\u8054\u52a8\u6848\u4f8b\uff1a\u5976\u8336\u5e97\u751f\u6b7b\u7c3f<\/strong><\/h3>\n\n\n\n
      \u573a\u666f\uff1a\u4f60\u5f00\u4e86\u5bb6\u5976\u8336\u5e97<\/h4>\n\n\n\n
        \n
      • \u8d44\u4ea7\u8d1f\u503a\u8868<\/strong>\uff082023.12.31\uff09\uff1a\n
          \n
        • \u8d44\u4ea7\uff1a\u73b0\u91d15\u4e07 + \u8bbe\u590710\u4e07 + \u539f\u65992\u4e07 = 17\u4e07<\/strong><\/li>\n\n\n\n
        • \u8d1f\u503a\uff1a\u6b20\u4f9b\u5e94\u55463\u4e07 + \u94f6\u884c\u8d37\u6b3e5\u4e07 = 8\u4e07<\/strong><\/li>\n\n\n\n
        • \u6240\u6709\u8005\u6743\u76ca\uff1a17-8=9\u4e07<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n
        • \u5229\u6da6\u8868<\/strong>\uff082023\u5e74\u5ea6\uff09\uff1a\n
            \n
          • \u6536\u5165\uff1a\u5356\u5976\u833650\u4e07<\/strong><\/li>\n\n\n\n
          • \u6210\u672c\uff1a\u539f\u659920\u4e07+\u4eba\u5de515\u4e07 = 35\u4e07<\/strong><\/li>\n\n\n\n
          • \u51c0\u5229\u6da6\uff1a50-35=15\u4e07<\/strong>\uff08\u8868\u9762\u770b\u5f88\u8d5a\u94b1\uff09<\/li>\n<\/ul>\n<\/li>\n\n\n\n
          • \u73b0\u91d1\u6d41\u91cf\u8868<\/strong>\uff082023\u5e74\u5ea6\uff09\uff1a\n
              \n
            • \u7ecf\u8425\u73b0\u91d1\u6d41\uff1a-8\u4e07<\/strong>\uff08\u5ba2\u6237\u8d4a\u8d2630\u4e07\u672a\u8fd8\uff09<\/li>\n\n\n\n
            • \u6295\u8d44\u73b0\u91d1\u6d41\uff1a-10\u4e07<\/strong>\uff08\u8d2d\u4e70\u8bbe\u5907\uff09<\/li>\n\n\n\n
            • \u878d\u8d44\u73b0\u91d1\u6d41\uff1a+20\u4e07<\/strong>\uff08\u501f\u94f6\u884c\u8d37\u6b3e\uff09<\/li>\n\n\n\n
            • \u2192 \u771f\u76f8<\/strong>\uff1a\u9760\u501f\u94b1\u7ef4\u6301\uff0c\u7ecf\u8425\u73b0\u91d1\u6d41\u67af\u7aed\uff01<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
              \n\n\n\n
              \u4e94\u3001\u6295\u8d44\u8005\u5fc5\u770b5\u5927\u6307\u6807<\/strong><\/h3>\n\n\n\n
                \n
              1. ROE\uff08\u51c0\u8d44\u4ea7\u6536\u76ca\u7387\uff09<\/strong>\uff1a
                \u51c0\u5229\u6da6 \/ \u51c0\u8d44\u4ea7<\/code> \u2192 >15%\u7b97\u4f18\u79c0\uff08\u5982\u7247\u4ed4\u764025%\uff09<\/li>\n\n\n\n
              2. \u7ecf\u8425\u73b0\u91d1\u6d41\/\u51c0\u5229\u6da6<\/strong>\uff1a
                1.2 \u5065\u5eb7\uff08\u5982\u82f9\u679c1.5\uff09\uff0c<0.8 \u9884\u8b66<\/li>\n\n\n\n
              3. \u6709\u606f\u8d1f\u503a\u7387<\/strong>\uff1a
                (\u77ed\u671f\u501f\u6b3e+\u957f\u671f\u501f\u6b3e)\/\u603b\u8d44\u4ea7<\/code> \u2192 <30%\u5b89\u5168\uff08\u5982\u817e\u8baf18%\uff09<\/li>\n\n\n\n
              4. \u5b58\u8d27\u5468\u8f6c\u7387<\/strong>\uff1a
                \u6536\u5165\/\u5e73\u5747\u5b58\u8d27<\/code> \u2192 \u8d8a\u9ad8\u8d8a\u597d\uff08\u5982\u4f18\u8863\u5e93\u5e74\u5468\u8f6c5\u6b21 vs \u7f8e\u90a61.8\u6b21\uff09<\/li>\n\n\n\n
              5. \u5546\u8a89\/\u51c0\u8d44\u4ea7<\/strong>\uff1a
                30% \u66b4\u96f7\u98ce\u9669\u9ad8\uff08\u5982\u5929\u795e\u5a31\u4e50\u66fe\u8fbe400%\uff09<\/li>\n<\/ol>\n\n\n\n
                \n\n\n\n
                \u516d\u3001\u6392\u96f7\u8bad\u7ec3\uff1a\u8bc6\u522b\u8d22\u52a1\u764c\u75c7<\/strong><\/h3>\n\n\n\n
                \u5f53\u770b\u5230\u8fd9\u4e9b\u4fe1\u53f7\uff0c\u7acb\u5373\u9003\u79bb\uff1a<\/p>\n\n\n\n
                  \n
                • \ud83d\udd25 \u5e94\u6536\u8d26\u6b3e\u9b54\u672f<\/strong>\uff1a\u5e94\u6536\u589e\u901f\u662f\u6536\u5165\u589e\u901f2\u500d\u4ee5\u4e0a\uff08\u5982\u5eb7\u7f8e\u836f\u4e1a\uff09<\/li>\n\n\n\n
                • \ud83d\udc80 \u5b58\u8d27\u5806\u79ef\u5982\u5c71<\/strong>\uff1a\u5b58\u8d27\u589e\u901f>50%\u4e14\u6bdb\u5229\u4e0b\u964d\uff08\u5982\u7350\u5b50\u5c9b\uff09<\/li>\n\n\n\n
                • \u2620\ufe0f \u5229\u6da6\u9760\u53d8\u5356\u5bb6\u4ea7<\/strong>\uff1a\u6263\u975e\u51c0\u5229\u6da6\u8fde\u7eed\u4e3a\u8d1f\uff08\u5982\u4f17\u6cf0\u6c7d\u8f66\uff09<\/li>\n<\/ul>\n\n\n\n
                  \n
                  \u7ec8\u6781\u5fc3\u6cd5<\/strong>\uff1a
                  \u5229\u6da6\u662f\u89c2\u70b9\uff0c\u73b0\u91d1\u6d41\u662f\u4e8b\u5b9e<\/strong>
                  \u6bcf\u6b21\u770b\u8d22\u62a5\uff0c\u5148\u6253\u5f00\u73b0\u91d1\u6d41\u91cf\u8868<\/strong>\u2014\u2014
                  \u7ecf\u8425\u73b0\u91d1\u6d41\u4e3a\u8d1f\u7684\u4f01\u4e1a\uff0c\u5c31\u50cf\u6ca1\u6709\u5fc3\u8df3\u7684\u8eaf\u58f3\u3002<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"
                  \u638c\u63e1\u4f1a\u8ba1\u56db\u5927\u6838\u5fc3\u6982\u5ff5\u662f\u89e3\u8bfb\u4f01\u4e1a\u5065\u5eb7\u72b6\u51b5\u7684\u751f\u5b58\u6280\u80fd\uff0c\u4ee5\u4e0b\u662f\u53bb\u7e41\u5c31\u7b80\u7684\u5b9e\u6218\u6307\u5357\uff0c\u7528\u6700\u76f4\u767d\u7684\u8bed\u8a00\u548c\u6848\u4f8b\u89e3\u6790\u5173\u952e\u6307\u6807\uff1a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-60","post","type-post","status-publish","format-standard","hentry","category-2"],"_links":{"self":[{"href":"https:\/\/iproject.work\/index.php?rest_route=\/wp\/v2\/posts\/60","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iproject.work\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iproject.work\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iproject.work\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/iproject.work\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60"}],"version-history":[{"count":2,"href":"https:\/\/iproject.work\/index.php?rest_route=\/wp\/v2\/posts\/60\/revisions"}],"predecessor-version":[{"id":64,"href":"https:\/\/iproject.work\/index.php?rest_route=\/wp\/v2\/posts\/60\/revisions\/64"}],"wp:attachment":[{"href":"https:\/\/iproject.work\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iproject.work\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iproject.work\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}