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2002ϋʕശɛ͏ձیئϓٰͭٙ΅Ϟࠢʮ̡dʕ˖ʮ̡Τ၈މʕࡡᗇՎٰ΅Ϟࠢʮ̡dί࠰ಥ˸ʕψᗇՎΤ່කุ࢝ਕ
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ܔᙄબ̈HٰΫᒅ˙ࣩબᛆiʿܔᙄ೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆ
ԫึՌ༱ΐ͉ஷՌୋ6Ї33ࠫf͉ʮ̡ᔫࠈ2017ϋ5˜22˚ಂɓɪʹ9ࣛ30ʱeɪʹ11ࣛאၡᎇϋ؇ٰܓɽึഐҼַאಂܝ˸༰ૉ٫މʿɪʹ11ࣛ30ʱאၡᎇHٰᗳйٰ؇ึᙄഐҼַאಂ˸ܝ༰ૉ٫މʕیئቍψ̹ਜڎႷ༩1රڎئႷึᙄʕːʱйᑘБϋ؇ٰܓɽึeHٰᗳйٰ؇ึᙄʿAٰᗳйٰ؇ึᙄfϋ؇ٰܓɽึʿHٰᗳйٰ؇ึᙄቇٙ͜˾ଣ։ৄࣣʊ2017ϋ4˜7˚೯ഗcტɨfೌሞcტɨঐщፋԒ̈ࢩϋ؇ٰܓɽึʿHٰᗳйٰ؇ึᙄdਕሗးҞਗ਼ቇٙ͜˾ଣ։ৄࣣܲՉΙΐܸٙͪ෬ѼԨʹΫfHٰٰ؇ᏐʹΫ˾ଣɛ։ࣸڌЇ͉ʮ̡ٙHٰཀ˒೮াஈ࠰ಥʕ̯ᗇՎ೮াϞࠢʮ̡dήѧ࠰މಥᝄ˺ެΧɽ༸؇183Υձʕː17Mᅽd˲းҞԨίОઋرɨʔ፰ϞᗫึᙄאՉОᚃึܸ֛ᑘБࣛග֛ܸאආБҳୃڌӔࣛග24ʃࣛʹۃΫfcტɨ෬ѼԨʹΫ˾ଣ։ৄࣣܝdʥ̙ԱᗴፋԒ̈ࢩϞᗫึᙄאՉОᚃึdԨึɪҳୃf
2017ϋ5˜5˚
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ࠫϣᙑ່.............................................................1ԫึՌ........................................................6
ܔᙄબ̈HٰΫᒅ˙ࣩબᛆ......................................7ܔᙄ೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆ........................8ڝɓcÑcHٰΫᒅ˙ࣩબᛆʘႭՌ..............................34ڝɚcÑcʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ..........................37ڝɧcÑcʮ̡ʮක೯Бŭٰ̙ᔷ౬ʮ̡වՎ
ණ༟ږԴ̙ٙ͜Бʱؓజѓ........................99ڝ̬cÑcۃϣණ༟ږԴ͜ઋرజѓ...............................109ڝʞcÑcʮක೯Бŭٰ̙ᔷ౬ʮ̡වՎᛅᑛуಂ
Ϋజʿ෬ણ݄.......................................112
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͉ʮٰ̡͉ʕӊٰࠦ࠽ɛ͏࿆1.00ʩٙྤʫɪ
̹౷ஷٰd༈ഃٰ΅ѩίɪऎᗇՎʹؐ˴ה
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Aٰᗳйٰ؇ึᙄ
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ʮ̡Ꮭ2017ϋ5˜22˚ಂɓɪʹ11 ࣛ30ʱאၡᎇHٰᗳйٰ؇ึᙄഐҼַאಂܝ ˸༰ૉ٫މᑘБٙAٰᗳйٰ؇ึᙄאՉ Оᚃึd˸ԶAٰٰ؇ϽᅇʿҭࡘՉʕ̍ ܼܔᙄબ̈HٰΫᒅ˙ࣩબᛆʿܔᙄ೯Б
A ٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆʘᙄࣩ Aٰ̙ᔷ౬ʮ̡වՎ ܸ ͉ʮ̡Ꮭίʕྤʫ೯Бٙᐼᕘʔ൴ཀɛ͏࿆ 27ᄂʩў27ᄂʩ̙ٙ౬މอAٰ̙ٙᔷ౬ ʮ̡වՎ Aٰ̙ᔷ౬ʮ̡වՎܵϞɛܸ Aٰ̙ᔷ౬ʮ̡වՎܵϞɛ Aٰٰ؇ ܸ AٰܵϞɛ ϋ؇ٰܓɽึ ܸ ͉ʮ̡Ꮭ2017ϋ5˜22˚ಂɓɪʹ9ࣛ 30ʱίʕیئቍψ̹ਜڎႷ༩1ර ڎئႷึᙄʕː̜කʿᑘБٙϋ؇ٰܓɽึ אՉОᚃึd˸Զٰ؇ϽᅇʿҭࡘՉʕ̍ ܼܔᙄબ̈HٰΫᒅ˙ࣩબᛆʿܔᙄ೯Б
A ٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆʘᙄࣩ ʮ̡ ܸ ʔࣛࡌҷʘ͉ʮ̡ʮ̡ ԫึ ܸ ԫึ –1– ಲऎਿږ ಲऎਿږ၍ଣ ᗳйٰ؇ึᙄၡᑌᖩɛ͉ʮ̡אʮ̡ ᗫஹɛɻᗫஹʹᔷٰᄆࣸࣨːᗫஹɛɻʕᗇ္ึ ᙑc່ ܸ ಲऎପุҳ༟ਿږdɓ͟ʕ೯࢝ձҷࠧ։ ึࡰҭࡘணͭٙਿږd࿚Ї௰̙ܝБ˚ಂdಲ ऎਿږ၍ଣ˾ڌಲऎਿܵږϞ608,000,000ٰ
A ٰdу͉ʮ̡ߒ15.495%ٰᛆ ܸ ಲऎପุҳ༟ਿږ၍ଣϞࠢʮ̡dɓʕ ணͭٙϞࠢபʮ̡d࿚Ї௰̙ܝБ˚ಂd˾ ڌಲऎਿږኹϞ͉ʮ̡ߒ15.495%ٰᛆ ܸ Aٰᗳйٰ؇ึᙄʿHٰᗳйٰ؇ึᙄ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ ʕࡡ證Վٰ΅Ϟࠢʮ̡ί࠰ಥ˸ʕψ證Վ Τ່කุ࢝ਕdɓ2002ϋ11˜8˚ίʕ یئϓٰͭٙ΅Ϟࠢʮ̡dՉHٰʿAٰʱ йίᑌʹ˾΅ٰؐ˴הj01375ʿɪऎᗇ Վʹ˾΅ٰהj601375ɪ̹ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ Aٰ̙ᔷ౬ʮ̡වՎᔷ౬ܝਗ਼ʚ೯БʘอAٰ ᄆࣸd̙ঐਗ਼ʔࣛʚ˸ሜ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ ʕᗇՎ္ຖ၍ଣ։ึࡰ –
2– ɽئॷุ ԫHٰᗳйٰ؇ึᙄ Hٰٰ؇Hٰیئҳ༟ණྠಥʩ࠰ಥIT௰ྼܝყ̙Б˚ಂɪ̹ۆ ᙑc່ ܸ ɽئॷุ࠰ಥϞࠢʮ̡dɓ࠰ಥϓ ͭٙϞࠢʮ̡d௰ྼܝყ̙Б˚ಂܵϞ 37,807,000ٰHٰу͉ʮ̡ʊ೯Бٰ͉ߒ 0.964%d͵یئމҳ༟ණྠٙගટΌ༟ڝ᙮ ʮ̡ ܸ ͉ʮ̡ԫ ܸ ͉ʮ̡Ꮭ2017ϋ5˜22˚ಂɓɪʹ11 ࣛאၡᎇϋ؇ٰܓɽึഐҼַאಂ˸ܝ༰ૉ ٫މᑘБٙHٰᗳйٰ؇ึᙄאՉОᚃ ึd˸ԶHٰٰ؇ϽᅇʿҭࡘՉʕܼ̍ܔ ᙄબ̈HٰΫᒅ˙ࣩબᛆʿܔᙄ೯БAٰ̙ᔷ ౬ʮ̡වՎ˙ࣩʿतйબᛆʘᙄࣩ ܸ HٰܵϞɛ ܸ ͉ʮٰ̡͉ʕӊٰࠦ࠽ɛ͏࿆1.00ʩٙྤ̮ɪ ̹̮༟౷ஷٰd༈ഃٰ΅ѩίᑌʹؐ˴הɪ̹ Ԩʹ ܸ یئҳ༟ණྠϞࠢʮ̡dɓʕൗ̅ϓͭ ʘϞࠢபʮ̡d௰ྼܝყ̙Б˚ಂܵϞ 822,983,847ٰAٰу͉ʮ̡ߒ20.975%ٰᛆ ܸ ಥʩd࠰ಥ֛ج࿆ ܸ ʕ࠰ಥतйБ݁ਜ ܸ
informationtechnologyٙᐵᄳdу߅ࢹڦҦ ܸ 2017ϋ5˜2˚dу͉ஷՌ˹Ιۃᆽ֛Չʕה༱ ߰ʍ༟ࣘϾԊٙ௰ྼܝყ̙Б˚ಂ ܸ ᑌʹהᗇՎɪ̹ۆ –
3– ̀௪ૢಛอɧؐ ණႭࣣʕeᒅΫબᛆ ɛ͏࿆̮ිٰ҅΅ٰ؇ ᙑc່ ܸՑྤ̮ɪ̹ʮ̡̀௪ૢಛd͟ਕ৫ᗇՎ։ึࡰၾՓҷࠧ։ึࡰɓɘɘ̬ϋɞ˜ɚɤɖ˚೯б ܸΌʕʃΆٰุ΅ᔷᜫӻ୕ٙᔊ၈d݊ਕ৫ҭࡘணͭٙΌᗇՎʹఙהdΌʕʃΆٰุ΅ᔷᜫӻ୕Ϟࠢபʮ̡މՉ༶ᐄ၍ଣዚ ܸ Ϟᗫ͉ϣᏝ೯БAٰ̙ᔷ౬ʮ̡වՎٙණႭ ࣣ ܸ ʕശɛ͏ձఱ͉ஷՌϾԊd࠰ಥeዦژ तйБ݁ਜձ̨ᝄήਜৰ̮ ܸ ܙϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪяҭࡘᒅ ΫબᛆٙӔᙄࣩה༱ૢ༺ϓܝdਗ਼બʚԫ ึɓছબᛆd˸БԴ͉ʮ̡ᛆɢᒅΫࠦ࠽ᐼ ᕘʔ൴ཀϋ؇ٰܓɽึஷѓʿᗳйٰ؇ึᙄஷ ѓה༱ᗫӔᙄࣩᐏஷཀ˚ʊ೯БHٰᐼࠦ ࠽10%ʘHٰ ܸ ʕ
֛ٙج࿆Ñɛ͏࿆dՉਿ͉ఊЗމ ʩ ܸ ʕശɛ͏ձි̮၍ଣ҅אટՉᛆɢ ʘዚᗫ ܸ ͉ʮٰ̡͉ʕӊٰࠦ࠽ɛ͏࿆1.00ʩٙ౷ஷ ٰdܼ̍AٰʿHٰ ܸ ͉ʮٰ̡؇ –4– तйબᛆ ᑌʹהڝ᙮ʮ̡ϗᒅςۆ % ᙑc່ ܸ ᗫਗ਼ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪᄲᙄ ʿҭٙࡘ೯БAٰ̙ᔷ౬ʮ̡වՎٙतйબᛆ ܸ ࠰ಥᑌΥʹהϞࠢʮ̡ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ
࠰ಥʮ̡ϗᒅʿΥԻςۆdʔࣛࠈࡌe ̤̂אБࡌҷ ܸ ϵʱˢ –5– ԫึՌ CentralChinaSecuritiesCo.,Ltd. 2002ϋʕശɛ͏ձیئϓٰͭٙ΅Ϟࠢʮ̡dʕ˖ʮ̡Τ၈މʕࡡᗇՎٰ΅Ϟࠢʮ̡dί࠰ಥ˸ʕψᗇՎΤ່කุ࢝ਕ ٰ΅˾j01375 ੂБԫjളࠏ͛ԫڗմʃΌ͛ ੂڢБԫjҽጳԳ͛ˮͭอ͛ੵ੶͛ੵ३ᄁ͛ɲዣජ͛ ዹͭੂڢБԫj߹ᅃࠏ͛қਃ͛ྐྵږϓ͛ɲၫ͛ ʕൗ̅፬ԫஈjʕیئቍψ̹ቍ؇อਜਠਕ̮ᐑ༩10 ʕᐼŊ˴ࠅᐄุήᓃjʕیئቍψ̹ቍ؇อਜਠਕ̮ᐑ༩10 ࠰ಥ˴ࠅᐄุήᓃj࠰ಥᝄ˺ެΧɽ༸؇28ږᙒිʕː18ᅽ ห઼٫j ܔᙄબ̈HٰΫᒅ˙ࣩબᛆiʿܔᙄ೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆ ၫԊ ধ͉ࠑʮ̡2017ϋ4˜7˚೯бٙϋ؇ٰܓɽึձHٰᗳйٰ؇ึᙄٙஷѓ˸ʿᗫᏝ೯Бŭٰ̙ᔷ౬ʮ̡වՎٙʮѓf ͉ஷՌϙίΣcტɨԶɪࠑԫධٙ༉ઋf –6– ԫึՌ ܔᙄબ̈HٰΫᒅ˙ࣩબᛆ (I)ܔᙄબ̈ᒅΫબᛆ ᒅΫHٰʘɓছબᛆ ʕശɛ͏ձʮ̡جè௪ૢಛʿʮ̡֛ٙቇ͉͜ʮ̡הϞᗳйٰ΅ʘ߰ʍٰ΅ᒅΫࠢՓf ʕശɛ͏ձʮ̡͉جʮ̡աϤࠢՓ֛ʕൗ̅ϓͭʘٰ΅Ϟࠢʮ̡ʔᒅΫՉٰ΅dৰڢᒅΫ(a)ͦٙۂމಯՉൗ̅༟͉i(b)ఱʮ̡͉Ԓၾ̤ɓගܵϞՉٰ΅ʘዚΥԻϾආБi(c)ͦٙމΣ͉ʮ̡྇ࡰબʚٰ΅˸ЪᆤᎸiא(d)ɗᏐٰ؇ࠅӋආБdϾ༈ഃٰ؇ԨʔΝจϞᗫΥԻאʱ؇ٰٙװӔᙄࣩf̀௪ૢಛ͉ʮ̡ʊਗ਼ʘॶɝʮ̡֛dίᐏϞᗫʕ္၍ዚҭࡘd˸ʿ፭ʮ̡ʘઋرɨd͉ʮ̡̙ఱۂಯՉٰ͉eఱʮ̡͉Ԓၾ̤ɓගܵϞՉٰ΅ʘዚΥԻdאאܛجБ݁ԷʪʘઋرɨᒅΫՉʊ೯Бٰ΅f ɪ̹࢙ۆɓගʕٰ΅Ϟࠢʮ̡ʘٰ؇dΣ༈ഃᑌʹהɪ̹ʘʮ̡ʘԫึબʚɓছબᛆᒅΫٰ΅f༈ධબᛆ˸ٰ؇ɽึɪᐏՉٰ؇ஷཀӔᙄࣩҖόЪ̈dʿ˸ІᑘБʘึᙄɪᐏAٰʿྤ̮ɪ̹̮༟ٰܵϞɛஷཀӔᙄࣩҖόЪ̈f ͉ʮ̡Hٰɗᑌʹ˸הಥʩ൯ርfΪϤd͉ʮ̡ᒅΫHٰא҅ි̮ܙટՉᛆɢʘዚᗫҭ̙˙ܝࡘආБdϾ͉ʮ̡ආБОHٰᒅΫࣛ˹˕הʘᄆࣸਗ਼ึ˸ಥʩ˕˹f ࣬ኽʮ̡ʫቇ͜ۂಯٰ͉ʘ֛d͉ʮ̡ஷཀۂಯ͉ʮ̡ൗ̅༟͉ʘӔᙄࣩࣛٝึՉවᛆɛfϤ̮dʕശɛ͏ձʮ̡ج֛dʮ̡Ϊۂಯٰ͉ϾᒅΫٰٙ΅̀ൗቖdϾʮ̡ٙൗ̅༟͉ਗ਼ΪϤܲ༈ഃൗቖٰ΅ᐼࠦٙ࠽ഃږᕘආБۂಯfۂࡊಯൗ̅༟͉d͉ʮ̡ίஷཀҭࡘ༈ۂಯٙϞᗫӔᙄࣩࠈܝಂගʫ˸ࣣࠦஷٝʿʮѓٙ˙όஷٝՉවᛆɛfවᛆɛϞᛆࠅӋ͉ʮ̡Ꮅᒔ൲ಛʿŊאԶዄڭfϤ֛جஷٝࠅӋ̙ί͉ʮ̡ۂಯൗ̅༟͉ࣛഗʚවᛆɛϗΫʿŊא՟වਕዄٙڭዚึतй݊༈ഃೌץתවਕf –7– ԫึՌ ᒅΫHٰʘૢމəОቇ֝ᒅΫHٰࣛঐԶԫᜳݺdତܔᙄరӋٰ؇ҭࡘΣԫึબ ̈ᒅΫબᛆf࣬ኽʕശɛ͏ձʮ̡جè௪ૢಛʿʮ̡֛ٙd͉ʮ̡ც̜කϋ؇ٰܓɽึʿᗳйٰ؇ึᙄ˸՟ٰ؇ٙɪࠑҭࡘf༈ഃึᙄɪdਗ਼ึяɓධतйӔᙄࣩd˸ԶϞᗫٰ؇ϽᅇʿҭࡘᒅΫબᛆуɓධᑌʹהᒅΫʊ೯БHٰʘϞૢɓছબᛆdᒅΫHٰٰ΅ᐼࠦ࠽ਗ਼ʔ൴ཀஷཀ༈ධतйӔᙄࣩʘ˚ʊ೯БHٰᐼࠦ࠽ʘ10%f ᒅΫબᛆܙɨΐධૢ༺ϓܝd˙̙Ъྼj(a)ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪʱйஷཀतйӔᙄࣩҭࡘબ̈ᒅΫબᛆiʿ(b)͉ʮ̡ᐏ̮ි҅אટՉᛆɢʘዚᗫʿŊאʕܛجeۆʿԷ̙ঐ֛ʘОՉ˼္၍ژνቇٙ͜ҭࡘʿŊאΣՉజ௪f߰ࡊɪ͊ૢࠑঐ༺ϓdԫਗ਼ʔึБԴᒅΫબᛆf ᒅΫબᛆਗ਼ึɨΐ˚ಂʕʘ༰Ϙ˚ಂ֣တj(a)͉ʮ̡ɨ֣ϋ؇ٰܓɽึഐҼࣛiא(b)ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄஷཀϞᗫӔᙄࣩৎࠇɤɚ˜ࡈಂග֣တࣛiא(c)ٰ؇ٰ؇ɽึɪ˸तйӔᙄࣩdאHٰܵϞɛאAٰܵϞɛІʘᗳйٰ؇ึᙄɪ˸तйӔᙄࣩΫࡌאҷतйӔᙄࣩהረʚʘબᛆ˚f ࣬ኽᒅΫબᛆd͉ʮ̡̙ᒅΫٙHٰਗ਼ʔ̙൴ཀϋ؇ٰܓɽึʿᗳйٰ؇ึᙄఱҭࡘᒅΫબᛆϾяٙतйӔᙄࣩᐏஷཀ˚ٙʊ೯БHٰࠦ࠽ᐼᕘٙ10%f ༱ϞᗫᒅΫબᛆ߰ʍ༟ࣘٙႭՌ༱͉ஷՌڝɓfܔᙄ೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆ(II)ܔᙄʮක೯БAٰ̙ᔷ౬ʮ̡වՎૢ މආɓӉ̂ྼ༟͉ږdʺ͉ʮ̡ၝΥᘩྼنɢdᄣ੶ܵᚃ೯࢝ঐɢd͉ʮ̡Ꮭ೯БAٰ̙ᔷ౬ʮ̡වՎԨɪ̹ɪऎᗇՎʹהf –8– ԫึՌ Աኽʕശɛ͏ձʮ̡جeʕശɛ͏ձᗇՎجeɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جഃܛجeجʿᇍٙ˖ܛجϞᗫ֛dԫึ࿁ʮක೯БAٰ̙ᔷ౬ʮ̡වՎٙᗫ༟ࣸձૢࠅӋdႩॆධІݟdႩ͉މʮ̡ୌΥϞᗫ֛ձࠅӋdՈ௪ʮක೯БAٰ̙ᔷ౬ʮ̡වՎٙ༟ࣸձૢf ԫึʊ2017ϋ4˜6˚ҭࡘԨӔᙄሗٰ؇ʱйϋ؇ٰܓɽึʿᗳйٰ؇ɽึɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩҖόҭ͉ࡘʮ̡ୌΥ೯БAٰ̙ᔷ౬ʮ̡වՎૢf (III)ܔᙄʮක೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩ Աኽʕശɛ͏ձʮ̡جeʕശɛ͏ձᗇՎجeɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جഃܛجeجʿᇍٙ˖ܛجϞᗫ֛d͉ʮ̡Ꮭ֛ə͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Б˙ࣩf ԫึʊ2017ϋ4˜6˚ҭࡘᏝ೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩdԨӔᙄሗٰ؇ʱйϋ؇ٰܓɽึʿᗳйٰ؇ɽึɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩҖόҭࡘf
(1)˴ૢࠅಛ ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯Б˙ࣩٙ˴ૢࠅಛνɨj 1e͉ϣ೯БᗇՎٙ၇ᗳ ͉ϣ೯БᗇՎٙ၇ᗳ̙މᔷ౬͉މʮ̡AٰٰୃٙAٰ̙ᔷ౬ʮ̡වՎf༈Aٰ̙ᔷ౬ʮ̡වՎʿ͊Ըᔷ౬͉ٙʮ̡Aٰٰୃਗ਼ίɪऎᗇՎʹהɪ̹f 2e೯Бᅼ ͉ϣᏝ೯БAٰ̙ᔷ౬ʮ̡වՎᐼᕘމʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩdՈ೯Бᅼሗϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆ͉ʮ̡ԫึאՉ˼બᛆɛɻίɪࠑᕘܓᇍఖʫᆽ֛f 3eୃࠦږᕘձ೯Бᄆࣸ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎӊੵࠦ࠽ɛ͏࿆100ʩdܲࠦ࠽೯Бf –9– ԫึՌ 4eවՎಂࠢ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎಂࠢމ೯Бʘ˚ৎʬϋf 5eවՎлଟ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٙୃࠦлଟٙᆽ֛˙όʿӊɓࢹࠇϋٙܓ௰лଟ˥̻dሗϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ݁ഄe̹ఙًرձ͉ʮ̡Ոઋرၾڭᑥዚ˴וቖਠਠᆽ֛f* ͉ϣAٰ̙ᔷ౬ʮ̡වՎί೯Бҁϓۃν༾ვБπಛлଟሜdۆϋٰܓ؇ɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻ࿁ୃࠦлଟЪᏐሜf 6e˹ٙࢹಂࠢձ˙ό ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎમ͜ӊϋ˹ࢹɓϣٙ˹˙ࢹόdՑಂᓥᒔהϞՑಂ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎ͉ږձ௰ܝɓϋлࢹf * ࣬ኽ
(1)ɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جୋɤʬૢj̙ᔷ౬ʮ̡වՎٙлଟ͟೯Бʮ̡ၾ˴וቖਠ ਠᆽ֛dШ̀ୌΥٙϞᗫ֛ʿ
(2)ᗫϞږፄΆุ೯Б̙ᔷ౬ʮ̡වՎϞᗫԫ֝ٙ ஷ̬ٝeϞږፄΆุ೯Б̙ᔷ౬ʮ̡වՎdᏐ̹ܲఙʷۆࡡdၝΥϽᅇვБ൲ಛлଟe ΝᗳවՎлଟ˸ʿɪ̹ʮ̡͊Ը೯౻ۃ࢝ഃΪ९dΥଣᆽ֛වՎлଟձᔷٰᄆ֛ࣸٙd͉ϣ೯ БٙAٰ̙ᔷ౬ʮ̡වՎٙୃࠦлଟٙᆽ֛˙όʿӊɓࢹࠇϋٙܓ௰лଟ˥̻d͟ϋ؇ٰܓɽึ ʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ݁ഄe̹ఙًرձ͉ʮ̡Ոઋر ၾڭᑥዚ˴וቖਠਠᆽ֛dਗ਼ʔึ࠽ࠋމfਿ̹ఙࣩԷʿତ̹ࣛఙઋرd͉ʮ̡ཫಂ
A ٰ̙ᔷ౬ʮ̡වՎٙ௰Эୃࠦлଟމ0.2%f –
10– ԫึՌ
(1)ϋлࠇࢹၑ ϋлܸࢹAٰ̙ᔷ౬ʮ̡වՎܵϞɛܲܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘІAٰ̙ᔷ౬ʮ̡වՎ೯Б˚ৎӊတɓϋ̙Ԯաٙಂлࢹfϋлࠇٙࢹၑʮόމj I=BÒi I:ܸϋлࢹᕘi Bjܸ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛίࢹࠇϋ˸ܓɨᔊ၈ϋאӊϋ˹ࢹ೮া˚ܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi ijܸAٰ̙ᔷ౬ʮ̡වՎϋୃࠦлଟf
(2)˹˙ࢹό (a)͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎમ͜ӊϋ˹ࢹɓϣٙ˹˙ࢹόdࢹࠇৎ˚މAٰ̙ᔷ౬ʮ̡වՎ೯Б˚f (b)˹˚ࢹjӊϋٙ˹͉މ˚ࢹϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ೯Б˚ৎӊတɓϋٙ˚dν༈˚˚ࢹ;א˚ື֛جމdۆනַЇɨɓʹࡈ˚dනַಂගʔ̤˹ࢹfӊቌٙՇ˚ࢹ˹ࡈʘගމɓࢹࠇࡈϋܓf (c)˹ࢹවᛆ೮া˚jӊϋٙ˹ࢹවᛆ೮া˚މӊϋ˹ۃٙ˚ࢹɓʹࡈ˚d͉ʮ̡ਗ਼ίӊϋ˹˚ࢹʘٙܝʞʹࡈ˚ʫ˕˹ϋлࢹfί˹ࢹවᛆ೮া˚ࢹ˹ܼ̍ۃවᛆ೮া˚͡ሗᔷ౬ϓ͉ʮ̡AٰٰୃٙAٰ̙ᔷ౬ʮ̡වՎd͉ʮ̡ʔΎΣՉܵϞɛ˕˹͉ࢹࠇϋ˸ܓʿࢹࠇܝϋٙܓлࢹf (d)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛהᐏлࢹϗɝٙᏐ˹ධܵ͟Ϟɛוዄf –11– ԫึՌ 7eᔷٰಂࠢ ͉ϣAٰ̙ᔷ౬ʮ̡වՎᔷٰಂІAٰ̙ᔷ౬ʮ̡වՎ೯БഐҼʘ˚တʬࡈ˜ٙܝୋɓʹࡈ˚ৎЇAٰ̙ᔷ౬ʮ̡වՎՑಂʘ˚˟f 8eᔷٰᄆࣸٙᆽ֛ʿՉሜ
(1)ڋᔷٰᄆࣸٙᆽ֛Աኽ ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎٙڋᔷٰᄆࣸʔЭණႭࣣʮѓʘ˚ۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆ߰ί༈ɧɤʹࡈ˚ʫ೯͛ཀৰᛆeৰˏࢹৎٰᄆሜٙઋҖdۆ࿁ሜʹۃ˚ٙϗᆵᄆܲཀᏐৰᛆeৰࢹሜٙܝᄆࣸࠇၑeۃɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆ߰ί༈ɚɤʹࡈ˚ʫ೯͛ཀৰᛆeৰˏࢹৎٰᄆሜٙઋҖdۆ࿁ሜʹۃ˚ٙϗᆵᄆܲཀᏐৰᛆeৰࢹሜٙܝᄆࣸࠇၑeۃɓࡈʹ˚͉ʮ̡Aٰٰୃʹѩᄆe௰ڐɓಂᄲٙࠇӊٰଋ༟ପձٰୃࠦ࠽ʕٙ௰৷٫dՈڋᔷٰᄆࣸሗϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆ͉ʮ̡ԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙًرၾڭᑥዚ˴וቖਠਠᆽ֛f* * ࣬ኽj
(1)ɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جୋɚɤɚૢjᔷٰᄆࣸᏐʔЭණႭࣣʮѓ˚ۃɚ ɤʹࡈ˚༈ʮٰ̡ୃʹѩᄆձۃɓʹ˚ٙѩᄆiʿ
(2)ᗫϞږፄΆุ೯Б̙ᔷ౬ʮ̡ වՎϞᗫԫ֝ٙஷٝʞe̙ᔷ౬ʮ̡වՎᔷٰᄆࣸᏐʔЭවՎණႭࣣʮѓ˚ۃ1ʹࡈ ˚eۃ20ʹࡈ˚eۃ30ʹࡈ˚༈ʮٰ̡ୃѩᄆʕٙ௰৷٫֛ٙd͉ϣ೯БAٰ̙ᔷ౬ʮ̡ වՎٙڋᔷٰᄆࣸʔЭණႭࣣʮѓ˚ۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆeۃɚɤࡈ ʹ˚͉ʮ̡Aٰٰୃʹѩᄆձۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆʕٙ௰৷٫f Νࣛd࣬ኽʕശɛ͏ձʮ̡جձϞ༟ପ၍ଣٙᗫ֛d͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎ
ٙᔷٰᄆࣸਗ਼ʔЭӊٰٰ΅ٙࠦ࠽уɛ͏࿆1ʩձ௰ڐɓಂᄲٙࠇӊٰଋ༟ପуɛ͏࿆2.70ʩٙੑ৷࠽f –12– ԫึՌ ۃɧɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆഃۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹᐼᕘৰ˸༈ɧɤʹࡈ˚͉ʮ̡Aٰٰୃٙʹᐼඎiۃɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆഃۃɚɤʹࡈ˚ʮٰ̡ୃʹᐼᕘৰ˸༈ɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹᐼඎiۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆഃۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹᐼᕘৰ˸༈˚͉ʮ̡Aٰٰୃʹᐼඎf
(2)ᔷٰᄆࣸٙሜ˙όʿࠇၑʮό ͉ϣ೯Бʘܝd͉ʮ̡೯͛ݼٰୃٰлeᔷᄣٰ͉eᄣ೯อٰאৣٰeݼତٰږлഃઋرʔܼ̍Ϊ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎᔷٰϾᄣٰ͉̋ٙࣛd͉ʮ̡ਗ਼ܲɨࠑʮόආБᔷٰᄆࣸሜሜڭ࠽वʃᅰᓃܝՇЗd௰ܝɓЗྼБ̬વʞɝj ݼٰୃٰлאᔷᄣٰ͉jP1=P0/(1+n)iᄣ೯อٰٰৣאjP1=(P0+AÒk)/(1+k)iɪࠑՇධΝࣛආБjP1=(P0+AÒk)/(1+n+k)iݼତٰږлjP1=P0-DiɪࠑɧධΝࣛආБjP1=(P0-D+AÒk)/(1+n+k)fՉʕjP0މሜۃᔷٰᄆdƔݼމٰୃٰлאᄣٰ͉ଟdƑމᄣ೯อٰٰৣאଟdŭމᄣ೯อٰᄆٰৣאᄆdŰމӊٰݼତٰږлdP1މሜܝᔷٰᄆf͉ʮ̡̈ତɪ΅ٰࠑձŊ؇ٰאᛆूᜊʷࣛdਗ਼ԱϣආБᔷٰᄆࣸሜdԨίʕᗇ္ึܸ֛ٙɪ̹ʮ̡מࢹڦᚣదɪ̊೮ʮѓdԨʮѓʕ༱ᔷٰᄆࣸሜ˚eሜ፬جʿᅲ৾ᔷٰࣛಂνცiԨ࣬ኽɪ –13– ԫึՌ ̹ۆഃجܛجʿԷί࠰ಥ̹ఙʚ˸ʮбνცfᔷٰᄆࣸሜ˚͉މϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰ͡ሗ˚אʘܝdᔷ౬ٰ΅೮া˚ʘۃdۆ༈ܵϞɛٙᔷٰ͡ሗܲʮ̡ሜٙܝᔷٰᄆࣸੂБf ͉ʮ̡̙ঐ೯ٰ͛΅ΫᒅeΥԻeʱͭאОՉ˼ઋҖԴ͉ʮٰ̡΅ᗳйeᅰඎձŊ؇ٰאᛆू೯͛ᜊʷϾ̙ঐᅂᚤ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛٙවᛆлूאᔷٰ͛ࠃᛆूࣛd͉ʮ̡ਗ਼ൖՈઋܲرʮ̻eʮ͍eʮʪٙ˸ۆࡡʿ̂ʱڭᚐ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛᛆूٙۆࡡሜᔷٰᄆࣸfϞᗫᔷٰᄆࣸሜʫ࢙ʿЪ፬جਗ਼Աኽ֣ࣛʕϞᗫجܛجʿᗇՎ္၍ٙژᗫ֛Փࠈf 9eᔷٰᄆࣸΣɨૢ͍ࡌಛ
(1)͍ࡌᛆࠢၾ͍ࡌషܓ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎπᚃಂගd͉ʮ̡Aٰٰୃίจஹᚃɧɤʹࡈ˚ʕϞɤʞʹࡈ˚ٙϗᆵᄆЭಂᔷٰᄆࣸٙ90%ࣛd͉ʮ̡ԫึϞᛆ̈ᔷٰᄆࣸΣɨࣩ˙͍ࡌԨʹ͉ʮٰ̡؇ɽึʿᗳйٰ؇ึᙄᄲᙄڌӔfɪࣩ˙ࠑ̈ึࢩᙄٰٙ؇ڌܵהӔᛆٙɧʱʘɚ˸ɪஷཀ˙̙ྼ݄fٰ؇ɽึʿᗳйٰ؇ึᙄආБڌӔࣛdܵϞ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٰٙ؇ᏐΫᒒfٙܝ͍ࡌᔷٰᄆࣸᏐʔЭ؇ٰٙࠑۃɽึʿᗳйٰ؇ึᙄ̜ක˚ۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆeۃɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆձۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆʕٙ௰৷٫f ߰ίࠑۃɧɤʹࡈ˚ʫ೯͛ཀᔷٰᄆࣸሜٙઋҖdۆίᔷٰᄆࣸሜ˚ʹٙۃ˚ܲሜٙۃᔷٰᄆࣸձϗᆵᄆࠇၑdίᔷٰᄆࣸሜ˚ʿʘʹٙܝ˚ܲሜٙܝᔷٰᄆࣸձϗᆵᄆࠇၑf –14– ԫึՌ
(2)͍ࡌҏν͉ʮ̡Ӕ֛Σɨ͍ࡌᔷٰᄆࣸd͉ʮ̡ਗ਼ίʕᗇ္ึܸ֛ٙɪ̹ ʮ̡מࢹڦᚣదɪ̊೮ᗫʮѓdʮѓ͍ࡌషܓeٰᛆ೮া˚ձᅲ৾ᔷٰಂගഃϞᗫࢹڦνცiԨ࣬ኽɪ̹ۆഃجܛجʿԷί࠰ಥ̹ఙʚ˸ʮбνცfٰᛆ೮া˚ٙܝୋɓʹࡈ˚уᔷٰᄆࣸ˚͍ࡌৎdකܨూᔷٰ͡ሗԨੂБٙܝ͍ࡌᔷٰᄆࣸf ߰ᔷٰᄆࣸމ˚͍ࡌᔷٰ͡ሗ˚אʘܝdᔷ౬ٰ΅೮া˚ʘۃd༈ᗳᔷٰ͡ሗᏐܲٙܝ͍ࡌᔷٰᄆࣸੂБf10eᔷٰᅰඎٙᆽ֛˙ό˸ʿᔷٰࣛʔԑɓٰږᕘٙஈଣ፬ج͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛίᔷٰಂʫ͡ሗᔷٰࣛdᔷٰᅰඎٙࠇၑ˙όމjQ=V/PdԨ˸̘҈ج՟ɓٰٙᅰ࠴fՉʕjQ̙މᔷ౬ٰٙୃᅰඎiVމAٰ̙ᔷ౬ʮ̡වՎܵϞɛ͡ሗᔷٰٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘiP͡މሗᔷٰ˚Ϟࣖٙᔷٰᄆࣸfᔷٰࣛʔԑᔷ౬މɓٰٙAٰ̙ᔷ౬ʮ̡වՎቱᕘd͉ʮ̡ਗ਼ܲɪऎᗇՎʹהഃٙژϞᗫ֛dίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰ˚ٙܝʞʹࡈ˚ʫ˸ତږг˹༈Aٰ̙ᔷ౬ʮ̡වՎቱᕘʿ༈ቱᕘה࿁ᏐٙಂᏐࠇлࢹf –15– ԫึՌ 11eᛙΫૢಛ
(1)ՑಂᛙΫૢಛ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎಂတܝʞʹࡈ˚ʫd͉ʮ̡ਗ਼ᛙΫΌ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎdՈᛙΫᄆࣸ͟ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻ࣬ኽ೯Б̹ࣛఙઋرၾڭᑥዚ˴וቖਠਠᆽ֛f
(2)ϞૢᛙΫૢಛ ί͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎٙᔷٰಂʫdν͉؈ʮ̡Aٰٰୃஹᚃɧɤʹࡈ˚ʕЇˇϞɤʞʹࡈ˚ٙϗᆵᄆࣸʔЭಂᔷٰᄆࣸٙ130%ў130%*d͉אϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ͊ᔷٰቱᕘʔԑɛ͏࿆3,000ຬʩࣛd͉ʮ̡ϞᛆܲවՎࠦ̋࠽ಂᏐࠇлٙࢹᄆࣸᛙΫΌאʱ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎf ಂᏐࠇлࠇٙࢹၑʮόމjIAØBÒiÒt/365 IAjܸಂᏐࠇлࢹi Bjܸ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi ijܸAٰ̙ᔷ౬ʮ̡වՎϋୃࠦлଟi tjܸ˂ࢹࠇᅰdуɪɓ˚ࢹ˹ࡈৎЇ͉ࢹࠇϋܓᛙΫ˚˟ٙྼყ˚˂ᅰၑ᎘ʔၑ҈f ߰ίࠑۃɧɤʹࡈ˚ʫ೯͛ཀᔷٰᄆࣸሜٙઋҖdۆίᔷٰᄆࣸሜ˚ʹٙۃ˚ܲሜٙۃᔷٰᄆࣸձϗᆵᄆࠇၑdίᔷٰᄆࣸሜ˚ʿʘʹٙܝ˚ܲሜٙܝᔷٰᄆࣸձϗᆵᄆࠇၑf * મ͜130%ʘˢଟ݊࣬ኽ̹ఙஷБਂجԨഐΥܔᙄ೯БAٰ̙ᔷ౬ʮ̡වՎٙྼყઋرϾᆽ֛f –16– ԫึՌ 12eΫਯૢಛ ͉߰ϣ೯БAٰ̙ᔷ౬ʮ̡වՎණ༟ږ༶ٙ͜ྼ݄ઋرၾ͉ʮ̡ίණႭࣣʕٙוፕˢ̈ତᜊʷd˲༈ᜊʷʕᗇ္ึႩ֛މҷᜊණ༟͜ږٙdAٰ̙ᔷ౬ʮ̡වՎܵϞɛԮϞɓϣ˸ࠦ̋࠽ɪಂᏐࠇлٙࢹᄆࣸΣ͉ʮ̡ΫਯՉܵϞٙΌאʱAٰ̙ᔷ౬ʮ̡වՎٙᛆлfίɪࠑઋҖɨdAٰ̙ᔷ౬ʮ̡වՎܵϞɛ̙˸ίΫਯ͡జಂ*ʫආБΫਯdίΫਯ͡జಂ*ʫʔྼ݄ΫਯٙdІਗఄ̰༈Ϋਯᛆf 13eᔷٰϋܓϞᗫٰлٙᓥ᙮ Ϊ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎᔷٰϾᄣ͉̋ٙʮ̡AٰٰୃԮϞၾࡡAٰٰୃΝഃٙᛆूdίٰл೯ٰٙ׳ᛆ೮া˚˚೮াί̅ٙהϞ౷ஷٰٰ؇ўΪAٰ̙ᔷ౬ʮ̡වՎᔷٰҖϓٰٙ؇ѩਞၾಂٰлʱৣdԮϞΝഃᛆूf 14e೯Б˙όʿ೯Б࿁ ͉ϣAٰ̙ᔷ౬ʮ̡වՎٙՈ೯Б˙ό͟ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻၾڭᑥዚ˴וቖਠᆽ֛f͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Б࿁ܵމϞʕᗇՎ೮াഐၑϞࠢபʮ̡ɪऎʱʮ̡ᗇՎሪ˒ٙІ್ɛeجɛeᗇՎҳ༟ਿږeୌΥܛج֛ٙՉ˼ҳ༟٫ഃܛجeجຫ˟٫ৰ̮f * ࣬ኽɪऎᗇՎʹୃٰהɪ̹ۆ11.8.7ᜊһ̙ᔷ౬ʮ̡වՎණ༟ږҳ༟ධͦٙdɪ̹ʮ̡ Ꮠίٰ؇ɽึஷཀӔᙄܝɚɤʹࡈ˚ʫረʚ̙ᔷ౬ʮ̡වՎܵϞɛɓϣΫਯٙᛆлdϞᗫΫਯ ʮѓЇˇ೯бɧϣfՉʕdίΫਯྼ݄ۃeٰ؇ɽึӔᙄʮѓܝʞʹࡈ˚ʫЇˇ೯бɓϣdίΫ ਯྼ݄ಂගЇˇ೯бɓϣdቱɨɓϣΫਯʮѓٙ೯бࣛගൖცࠅϾ֛֛ٙdᙃ೯Aٰ̙ᔷ౬ʮ ̡වՎΫਯૢಛࣛd͉ʮ̡ਗ਼֣ܲࣛܛجeجאᗫ֛ٙࠅӋdʿࣛΣɪऎᗇՎʹה ʹԨ೯бAٰ̙ᔷ౬ʮ̡වՎΫਯʮѓձᗫͪʮѓdՈΣҳ༟٫ႭΫਯҏeΫਯᄆ ࣸe˹ಛ˙جe˹ಛࣛගഃʫ࢙fઓ̹ܲͦٙۃఙ࿕ԷdɓছΫਯ͡జಂࠢІٰ؇ɽึӔᙄҭࡘ ᜊһණ༟͜ږʘ˚ৎ5˂කdၪܵ5˂f –
17– ԫึՌ 15eΣࡡAٰٰ؇ৣਯٙτર ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎഗʚࡡAٰٰ؇ᎴৣਯᛆfՈᎴৣਯᅰඎሗٰ؇ɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙઋرᆽ֛dԨί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٙණႭࣣʕʚ˸מᚣf༈ഃᎴৣਯਗ਼፭ςʕശɛ͏ձᗇՎجʿɪ̹ܼ̍ۆШʔࠢɪ̹ۆୋ14AධɨϞᗫᗫஹʹ֛ٙʿࠅӋאОՉ̴္ִ݁א၍ዚٙהϞቇ͜ܛجeجʿԷd˙̙ໝྼf ߰ࡊAٰ̙ᔷ౬ʮ̡වՎ͟ᗫஹɛɻආБႩᒅԨ͟༈ഃᗫஹɛɻၾ͉ʮ̡ᖦࠈႩᒅᙄࣛdᗫஹɛɻႩᒅAٰ̙ᔷ౬ʮ̡වՎਗ਼ϓ͉ʮ̡ɪ̹ۆୋ14Aධɨٙᗫஹʹf͉ʮ̡֣ࣛਗ਼፭ςɪ̹ۆୋ14Aධɨ֛ٙdܼ̍೯бʮѓʿஷՌd˸ʿ՟ዹٰͭ؇ҭࡘf ٜЇ௰̙ܝБ˚ಂdఱԫٝהeהʿڦהdʿЪ̈ɓʲΥଣݟ༔ܝd͉ʮ̡ʘᗫஹɛɻ฿ೌจᗴႩᒅAٰ̙ᔷ౬ʮ̡වՎf 16eAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄᗫԫධ
(1)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛٙᛆлၾ່ਕ (a)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛٙᛆл (i)ԱՉܵהϞAٰ̙ᔷ౬ʮ̡වՎᅰᕘԮϞ֛ߒлࢹi (ii)࣬ኽૢ֛ߒਗ਼ܵהϞٙAٰ̙ᔷ౬ʮ̡වՎᔷ͉މʮ̡Aٰٰ΅i (iii)࣬ኽૢ֛ٙߒБԴΫਯᛆi (iv)ԱܛجeБ݁جʿʮ̡֛ٙᔷᜫeᗍၾאሯץՉܵהϞٙAٰ̙ᔷ౬ʮ̡වՎi (v)Աܛجeʮ̡֛ٙᐏϞᗫࢹڦi –18– ԫึՌ (vi)֛ܲٙߒಂࠢձ˙όࠅӋ͉ʮ̡Ꮅ˹Aٰ̙ᔷ౬ʮ̡වՎ͉ࢹi (vii)ԱܛجeБ݁جഃᗫ֛ਞၾא։ৄ˾ଣɛਞၾAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄԨБԴڌӔᛆi (viii)ܛجeБ݁جʿʮ̡הረʚٙՉЪ͉މʮ̡වᛆɛٙՉ˼ᛆлf (b)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛ່ٙਕ(i)፭ς͉ʮ̡೯БAٰ̙ᔷ౬ʮ̡වՎૢಛٙᗫ֛i(ii)ԱՉהႩᒅٙAٰ̙ᔷ౬ʮ̡වՎᅰᕘᖮॶႩᒅ༟ږi(iii)፭ςAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄБٙϞࣖӔᙄi(iv)ৰܛجeج֛ʿAٰ̙ᔷ౬ʮ̡වՎණႭࣣ֛ߒ̮dʔࠅӋ͉ʮ̡ۃᎵ˹Aٰ̙ᔷ౬ʮ̡වՎ͉ٙږձлࢹi(v)ܛجeБ݁جʿʮ̡֛Ꮠ͟Aٰ̙ᔷ౬ʮ̡වՎܵϞɛוዄٙՉ˼່ਕf
(2)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄ̜ٙකઋҖί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎπᚃಂʫd೯͛ɨΐઋҖʘɓٙd ͉ʮ̡ԫึᏐ̜ණAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄj(i)͉ʮ̡ᏝᜊһණႭࣣ֛ٙߒi(ii)͉ʮ̡͊ঐܲಂ˕˹͉ϣAٰ̙ᔷ౬ʮ̡වՎ͉ࢹi –19– ԫึՌ (iii)͉ʮ̡ಯ༟eΥԻeʱͭe༆א٫͡ሗॎପi(iv)೯͛Չ˼࿁වՎܵϞɛᛆूϞࠠɽྼሯᅂᚤٙԫධfʮ̡ਗ਼ίණႭࣣʕڭ֛ߒᚐAٰ̙ᔷ౬ʮ̡වՎܵϞɛᛆлٙ፬جd˸ʿAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄٙᛆлeόձӔᙄ͛ࣖૢf17eණ༟͜ږ͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࠇණ༟ږᐼᕘʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩdϔৰ೯Б൬͜ܝᏝΌ̂͜ʮ̡ᐄ༶༟ږdίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰܝᄣ̋ʮ̡༟͉ږd˸˕ܵ͊Ըุਕ೯࢝dʺʮ̡̹ٙఙᘩنɢձҤࠬᎈঐɢdڮආʮ̡ଫ೯ͦ࢝ᅺٙྼତfՈ͜νɨjɓᏝԴ͜ʔ൴ཀɛ͏࿆17ᄂʩ͜༟͉ʕʧุਕፄ༟ፄՎe֛ߒᒅΫόᗇՎʹeٰୃሯץόΫᒅʹഃ༟͉ʕʧุਕʔස̙˸މᗇՎʮ̡੭Ըᖢ֛ٙлࢹϗɝdᒔ̙˸̈͛ࠃุߏਕʿՉ˼ପۜ௴อዚึdʊϓމᗇՎʮ̡ٙࠠࠅϗɝձлᆗԸ๕f༟͉ʕʧุਕᅼٙᓒੵცࠅᗇՎʮ̡ܵᚃή̋ɽ༟ৣږໄfʮ̡Ꮭ༶͜ණ༟ږҳɝ༟͉ʕʧุਕdආɓӉᎴʷʮ̡ϗɝഐdᄣ੶ʮ̡ޮлঐɢfɚᏝԴ͜ʔ൴ཀɛ͏࿆8ᄂʩ͜ҳ༟ձਂุ̹ਕʮ̡ਗ਼ίණ༟ږՑЗܝdίᄲฐЪձࠬᎈ̙છٙۃɨd࣬ኽ̹ఙᜊʷઋرdቇࣛԴ͜ණ༟ږҳɝІᐄุਕd࢝ןอٙҳ༟ۜ၇dක࢝ඎʷʹձۜ͛ࠃҳ༟dҷഛІᐄҳ༟ഐdʺҳ༟ϗूfණ༟ږՑЗܝdʮ̡ਗ਼ൖุਕ೯ྼٙ࢝ყცࠅ࿁ʕψყږፄછٰϞࠢʮ̡ձʕψᔝऎҳ༟၍ଣϞࠢʮ̡ഃɿʮ̡ආБҳ༟d˸̂ɿʮ̡ –20– ԫึՌ ٙ༟͉ږձᐄ༶༟ږdᄣ੶ɿʮ̡ٙᘩنɢၾࠬᎈתҤঐɢd೯ุ̮ྤ࢝ਕձ̤ᗳҳ༟ഃุਕf ණ༟ږՑЗܝdʮ̡ਂุ̹ਕਗ਼ஷཀҳɝ༟ږeၚ፯ձᄣ̋ʮ̡וਂٙอɧؐਂ̹ධͦഃ˙όd̋Ҟ೯࢝ӉͽdԨҖϓၾՉ˼ุਕ೯ٙ࢝ΝࣖᏐf ɧᏝԴ͜ʔ൴ཀɛ͏࿆1ᄂʩ͜ᗇՎߏeҳ༟ვБุਕձࢹڦӻ୕ܔண ʮ̡ࠇྌ˸ණ༟ږҳɝᐄุၣᓃܔணၾб҅Ꮄʷd፯ʫ̮ࠠᓃਜਹᄣணᐄุၣᓃतй݊ჀۨᐄุၣᓃdԨᎴʷତϞၣᓃd࿁ʱб҅ʔΥଣٙၣᓃҁϓቋѧאҷிfΝࣛdʮ̡ਗ਼Ꮄʷุߏਕɛࡰഐe੶ʷਖ਼ุଣৌඟͼܔணdଉʷุߏਕஷ༸όਕΣৌబ၍ଣᄣ࠽ਕᔷۨdʺৌబ၍ଣਕঐɢfϤ̮dᖢӉ৷ዚቖਯձҳ༟Ӻุਕٙਕঐɢf ͉ϣණ༟ږՑЗdਗ਼Ϟлʮ̡וટһεٰٙᛆፄ༟ձවᛆፄ༟ධͦdᄣ੶ҳ༟ვБוቖঐɢfΝࣛʮ̡ਗ਼̋ɽҳ༟ვБุਕྠඟܔணɢܓdѯɽҳ༟ვБඟͼdᄣ̋ҳɝdΌࠦ৷ᗇՎڭᑥוቖձৌਕᚥਪਕঐɢf ʮ̡ਗ਼˸ණ༟ږҁഛIT༶ᐄ၍ଣӻձIT௪΅ঐɢd੶ʷᅰኽࢫᏐ͜ӻ୕dҷഛITਿᓾண݄dᄣ̋อุਕࢹڦӻ୕ܔணҳɝd˸ආɓӉʺ࿁ุਕ೯˕ٙ࢝ᅟձਕঐɢf ̬ᏝԴ͜ʔ൴ཀɛ͏࿆1ᄂʩ͜༟ପ၍ଣุਕ ʮ̡ਗ਼ίණ༟ږՑЗܝd̋ɽίҳ༟Ӻձ̹ఙᐄቖഃ˙ࠦٙ༟๕ৣໄdዓͭІԒۜdጐකןፄ༟༟ପ၍ଣุਕձ༟ପᗇՎʷุਕdආɓӉ೯࢝༟ପ၍ଣุਕf –21– ԫึՌ 18eٰᛆഐᜊһ Aٰ̙ᔷ౬ʮ̡වՎᔷٰܝd͉ʮ̡Aٰʘᅰͦਗ਼ᄣ̋fତϞٰ؇͉ʮ̡ʘᛆूਗ਼͟Aٰ̙ᔷ౬ʮ̡වՎᔷ౬ᛆлٙБԴϾᛅᑛf͉ʮ̡Aٰٰ΅ٙྼყᄣ̋ᕘਗ਼ൖAٰ̙ᔷ౬ʮ̡වՎٙ௰ૢಛᆽ֛dՉʕܼ̍Aٰ̙ᔷ౬ʮ̡වՎ೯Бᅼeᔷٰᄆࣸഃf މၑ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎΌᔷٰ࿁͉ʮٰ̡ᛆഐٙᅂᚤd͉ʮ̡Ъνɨணj 1eண͉ϣ೯Бණ༟ږᐼᕘɛ͏࿆270,000.00ຬʩdʔϽᅇ೯Б൬͜ഃᅂᚤf͉ϣ೯БྼყՑሪٙණ༟ږᅼਗ਼࣬ኽ္၍ࡘࣨژe೯БႩᒅઋ˸رʿ೯Б൬͜ഃઋر௰ᆽ֛i 2eண͉ϣ೯Б2017ϋ12˜ྼ݄ҁଭd˲הϞAٰ̙ᔷ౬ʮ̡වܵϞɛ2018ϋ6˜ҁϓᔷٰfᗫҁϓࣛගසމʮ̡Пࠇd௰˸ʕᗇ္ึࣨྼܝࡘყ೯БҁϓࣛගʿAٰ̙ᔷ౬ʮ̡වՎܵϞɛҁϓᔷٰٙྼყࣛගމi 3e͉ʮ̡2016ϋ̒ϋܓлᆗʱৣʊྼ݄ҁଭd2016ϋܓлᆗʱৣཫࣩ֠ცϋ؇ٰܓɽึᄲᙄஷཀdணʮ̡2017ϋܓତږʱږߎᕘၾ2016ϋΌϋΝdΥݼࠇ೯ତߎږлɛ͏࿆797,145,368.70ʩi 4eண͉ϣ೯Бٙᔷٰᄆࣸމʮ̡ୋʞ֣ԫึୋɧɤɚϣ̜ක˚у2017ϋ4˜6˚ٙۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆeۃɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆeۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆʘʕٙ௰৷٫dуɛ͏࿆12.04ʩŊٰf͉ʮ̡2016ϋܓձ2017ϋܓлᆗʱৣ˙ࣩྼ݄ܝdணᔷٰᄆࣸሜίᔷ౬ٰ΅೮া˚ʘۃҁϓdሜܝᔷٰᄆࣸމɛ͏࿆11.71ʩŊٰf༈ᔷٰᄆࣸස͜ࠇၑ͉ϣ೯Б࿁͉ʮٰ̡ᛆഐٙᅂᚤd௰ٙڋᔷٰᄆࣸ͟ԫึ࣬ኽϋ؇ٰܓɽึʿᗳйٰ؇ɽึબᛆdί೯Б࣬ۃኽ̹ఙًرᆽ֛dԨ̙ঐආБৰᛆeৰࢹሜאΣɨ͍ࡌiʿ –22– ԫึՌ 5eணৰ͉ϣ೯Б̮dᅲʔϽᅇՉ˼ึ࿁͉ʮ̡ᐼٰ͉೯͛ᅂᚤאᆑίᅂᚤٙБܼ̍މԫึ࣬ኽᒅΫબᛆνʱйᐏٰ؇ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄ˸तйӔᙄࣩஷཀБԴ͉ʮ̡ᛆɢᒅΫᗫӔᙄࣩஷཀ˚ʊ೯БHٰᐼࠦ࠽10%ʘHٰf ਿ˸ɪணd̙ᔷٰٙAٰ௰ɽᅰඎਗ਼މ230,572,160ٰAٰf͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎΌᔷٰܝd͉ʮ̡ᐼٰ͉ਗ਼͟3,923,734,700ٰᜊһމ4,154,306,860ٰf ᘱᚃண͉ϣ೯БٙהϞAٰ̙ᔷ౬ʮ̡වՎѩ͟ዹͭʮ̡ٙʮɛɻႩᒅf߰ࡊAٰ̙ᔷ౬ʮ̡වՎ͟ᗫஹɛɻආБႩᒅࣛd͉ʮ̡ਗ਼፭ςɪ̹ۆୋ14Aɨٙᗫ֛dܼ̍೯бʮѓʿஷՌd˸ʿᐏ՟ዹٰͭ؇ҭࡘfᅲʔϽᅇیئҳ༟ණྠʿಲऎਿږ၍ଣ˾ڌಲऎਿږŊಲऎਿږৰႩᒅ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎԨᔷٰ̮dІ˸Չ˼Җόᄣܵʮٰ̡΅ٙઋҖf ɪࠑணස͜ၑ͉ϣ೯Б࿁͉ʮٰ̡ᛆഐٙᅂᚤdʔ˾ڌ࿁͉ϣ೯Б˙ࣩeછٰٰ؇Ŋ˴؇ٰࠅႩᒅจᗴձ೯Бഐ؈Ъ̈ཫואࠇፕdྼყ೯Б˙ࣩ͟ϋ؇ٰܓɽึʿᗳйٰ؇ɽึબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙઋرᆽ֛dԨί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ೯Бʮѓʕʚ˸מᚣdྼყ೯Бઋرਗ਼ίAٰ̙ᔷ౬ʮ̡වՎɪ̹ʮѓࣣʕʚ˸מᚣf –23– ԫึՌ ਿ˸ɪΌணd͉ʮ̡௰ྼܝყ̙Б˚ಂŊၡટAٰ̙ᔷ౬ʮ̡වՎ೯БҁϓۃŊၡᎇAٰ̙ᔷ౬ʮ̡වՎ೯БҁϓШ֠͊ᔷٰd˸ʿၡᎇAٰ̙ᔷ౬ʮ̡වՎ೯Бҁϓٰٙᛆഐνɨj ௰ྼܝყ̙Б˚ಂŊ ၡᎇAٰ̙ᔷ౬ʮ̡ ၡટAٰ̙ᔷ౬ʮ̡ වՎ೯БҁϓdԨண වՎ೯БҁϓۃŊ Aٰ̙ᔷ౬ʮ̡වՎ ၡᎇAٰ̙ᔷ౬ʮ̡වՎ ˸ɪࠑணᔷٰᄆࣸ ٰ؇ ೯БҁϓШ֠͊ᔷٰ Όᔷٰܝ Ц͉ʮ̡ Ц͉ʮ̡ࣛ Όʊ೯Б ᓒɽΌ ٰ΅฿ ʊ೯Бٰ΅ ٰ΅ᅰͦ ߒϵʱˢ ٰ΅ᅰͦ
ٙ฿ߒϵʱˢ Aٰ ڢʮٰՉʕjیئҳ༟ණྠ ಲऎਿږ၍ଣ˾ڌಲऎਿږŊಲऎਿږ ʮٰʮٰᅰ 1,973,705,700822,983,847 608,000,000 700,000,000 50.302%20.975% 1,973,705,700822,983,847 15.495%608,000,000 17.840%930,572,160 47.510%19.810% 14.635% 22.400% Aٰᐼٰᅰ Hٰ ڢʮٰՉʕjɽئॷุ*ʮٰʮٰᅰ 2,673,705,700 68.142%2,904,277,860 69.910% 37,807,00037,807,000 1,212,222,000 0.964%0.964% 37,807,00037,807,000 30.895%1,212,222,000 0.910%0.910% 29.180% Hٰᐼٰᅰ 1,250,029,000 31.858%1,250,029,000 30.090% A+Hٰ͉ʮ̡ᐼٰᅰ 3,923,734,700 100%4,154,306,860 100% * ɽئॷุیئމҳ༟ණྠٙගટΌ༟ڝ᙮ʮ̡ –24– ԫึՌ ೯БAٰ̙ᔷ౬ʮ̡වՎʔึ࿁ɪ̹ۆ֛ٙ͟ʮɛɻܵϞٰٙ΅ʿHٰٙ௰ЭᅰͦிϓʔлᅂᚤfԨ˲d࣬ኽʕശɛ͏ձৌ݁೯бٙᗫϞږፄΆุ೯Б̙ᔷ౬ʮ̡වՎϞᗫԫ֝ٙஷٝৌږ[2013]116ୋɓૢୋɚಛછՓɢۆࡡfϞږፄΆุ೯Б̙ᔷ౬ʮ̡වՎdࠅʲྼၪᚐϞ̈༟ɛᛆूdܵڭϞછՓɢf̙ᔷ౬ʮ̡වՎБᛆܝdۆࡡɪϞછٰήЗᏐڭܵʔᜊٙࠅӋd͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎΌᔷٰܝd͉ʮ̡ʔึ̈ତછٰᛆᜊਗٙઋҖfܙᔾ֛Aٰ̙ᔷ౬ʮ̡වՎٙૢಛʿ̊೮ϞᗫණႭࣣܝd͉ʮ̡ਗ਼ЪආɓӉʮбf19eዄڭԫධ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎʔԶዄڭf20eණ༟ږπ၍ ͉ʮ̡ʊͭܔʮ̡ණ༟ږ၍ଣՓܓd͉ϣ೯Бٙණ༟ږਗ਼π׳͉ʮ̡ԫึӔ֛ٙਖ਼ධሪ˒ʕdՈක˒ԫ֝ί೯Б͉͟ۃʮ̡ԫึᆽ֛f21eӔᙄϞࣖಂ ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎӔᙄٙϞࣖಂމϋ؇ٰܓɽึʿᗳйٰ؇ึᙄᄲᙄஷཀ͉ϣ೯Б˙ࣩʘ˚ৎɤɚ˜ࡈf(IV)ܔᙄʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩΌ˖༱͉ஷՌڝɚf೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩʊ2017ϋ4˜6˚ԫึஷཀԨӔᙄሗٰ؇ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩ˙όҭࡘ༈ཫࣩf –25– ԫึՌ (V)ᗫʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎණ༟ږԴ̙ٙ͜Бʱؓజѓ͉ϣ೯Бŭٰ̙ᔷ౬ʮ̡වණ༟ږԴ̙ٙ͜БʱؓజѓΌ˖༱͉ஷՌڝ ɧf̙Бʱؓజѓʊ2017ϋ4˜6˚ԫึᄲᙄஷཀԨӔᙄሗٰ؇ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩ˙όҭࡘ༈జѓf(VI)ᗫۃϣණ༟ږԴ͜ઋرజѓ ͉ʮ̡࿚Ї2016ϋ3˜31˚ٙۃϣණ༟ږԴ͜ઋرజѓΌ˖༱͉ஷՌڝ̬fԫึʊ2017ϋ4˜6˚ҭࡘԨӔᙄሗϋ؇ٰܓɽึʿᗳйٰ؇ɽึ˸तйӔᙄࣩ˙όҭࡘ༈ۃϣණ༟ږԴ͜ઋرజѓf(VII)બᛆԫึ፬ଣʮක೯Бʮක೯БAٰ̙ᔷ౬ʮ̡වՎᗫԫ֝ ࣬ኽʕശɛ͏ձʮ̡جeʕശɛ͏ձᗇՎجഃجܛج˸ʿʮ̡ٙϞᗫ֛dԫึሗϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆԫึdίϋܓٰ؇ɽึʿᗳйٰ؇ึᙄᄲᙄஷཀٙ࣪ݖձۆࡡɨd፬ଣ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯Бٙᗫԫ֝fબᛆಂࠢމϋ؇ٰܓɽึʿᗳйٰ؇ึᙄӔᙄ͛ࣖʘ˚ৎ12˜ࡈd༈બᛆಂ֣ࠢတۃdԫึਗ਼࣬ኽ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯БٙྼყઋرdΣ͉ʮٰ̡؇ɽึʿᗳйٰ؇ึᙄሗҭࡘอٙબᛆf Ոબᛆʫ࢙ʿᇍఖܼ̍Шʔࠢj(i)࣬ኽʕجܛجeᗇՎ္၍ٙژϞᗫ֛ʿ͉ʮ̡ՈઋرdՓ֛ձ ྼ݄͉ϣ೯БٙՈ˙ࣩd࿁Aٰ̙ᔷ౬ʮ̡වՎٙ೯БૢಛආБቇࡌࠈeሜձ̂dί೯БۃᆽՈٙ೯Бૢಛʿ೯Б˙ࣩdՓ֛ձྼ݄͉ϣ೯Бٙ௰˙ࣩdܼ̍Шʔࠢᆽ֛೯Бᅼe೯Б˙όʿ࿁eΣࡡAٰٰ؇ᎴৣਯٙˢԷeڋᔷٰᄆࣸٙᆽ֛eᔷٰᄆ͍ࣸࡌeᛙΫeවՎлଟe֛ߒවՎܵϞɛึᙄٙᛆлʿՉ̜කҏ˸ʿӔᙄٙ͛ࣖ –26– ԫึՌ ૢeӔ֛͉ϣ೯Бࣛዚeᄣணණ༟ږਖ਼˒eᖦණ༟ږਖ਼˒πᎷɧ˙္၍ᙄʿՉ̴ၾ೯Б˙ࣩᗫٙɓʲԫ֝i (ii)ҭࡘeᖦeࡌҷêeʹeяజeੂБၾ͉ϣ೯БϞᗫٙɓʲᙄe͡జ˖ձՉ˼˖dԨ፬ଣᗫٙ͡ሗeజҭe೮াe௪ࣩഃ˓ᚃi (iii)໌ሗᗫʕʧዚԨၾʘᖦᗫᙄd፬ଣ͉ϣ೯Бٙᗫԫ֝i࣬ኽ္၍ࠅٙژӋႡЪeࡌҷeజϞᗫ͉ϣ೯Бʿɪ̹ٙ͡జҿࣘdΌᛆΫూᗇՎ္၍ٙژˀ㉿จԈi (iv)፬ଣ͉ϣ೯Бණ༟ږԴ͜ᗫԫ֝dԨίٰ؇ɽึʿᗳйٰ؇ึӔᙄᇍఖʫ࿁͉ϣ೯Бණ༟ږԴ͜ʿՈτરආБሜi (v)͉ϣ೯Бҁϓܝd፬ଣ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎίɪऎᗇՎʹהʿʕᗇՎ೮াഐၑϞࠢபʮ̡ɪऎʱʮ̡೮াeɪ̹ഃᗫԫ֝i (vi)࣬ኽ͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Бձᔷٰઋرቇࣛࡌҷʮ̡ʕٙᗫૢಛdԨ፬ଣʈਠ௪ࣩeൗ̅༟͉ᜊһ೮াഃԫ֝i (vii)ί፭ς֣ࣛቇٙ͜ʕۃٙܛجɨdνܛجeجʿՉ˼ᇍ˖ձϞᗫ္၍ژ࿁ɪ̹ʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎ݁ഄϞอ֛ٙ˸ʿ̹ఙઋر೯͛ᜊʷdৰऒʿϞᗫجܛجʿʮٰ̡֛͟؇ɽึʿᗳйٰ؇ึࠠอڌӔ˲ʔʪબᛆٙԫධd࣬ኽϞᗫ֛˸ʿᗇՎ္၍ࠅٙژӋܼ̍࿁͉ϣ೯Б͡ሗٙᄲࣨˀ㉿จԈձ̹ఙઋر࿁͉ϣ೯Б˙ࣩeණ༟ږҳΣഃආБሜԨᘱᚃ፬ଣ͉ϣ೯Бԫ֝i (viii)ί̈ତʔ̙ҤɢאՉ˼ԑ˸Դ͉ϣ೯Б˙ࣩᗭ˸ྼ݄eא٫ᒱ್̙˸ྼ݄Шึഗʮ̡੭Ըʔл؈ܝʘઋҖdא೯БAٰ̙ᔷ౬ʮ̡වՎ݁ഄ೯͛ᜊʷࣛdઋӔ֛͉ϣ೯Б˙ַࣩಂྼ݄אۃ˟i –27– ԫึՌ (ix)ίᗫجܛجʪٙۃɨd˾͉ڌʮ̡ਂ̈ၾ͉ϣ೯БϞᗫٙ̀ცeܦձΥቇٙהϞՉ˼ԫධiʿ (x)ԫึϞᗫ͉ϣ೯Бٙᔷબᛆԫ֝f މҪ̹ఙࣛዚdᔊʷʫᄲҭҏd৷Ӕഄࣖଟdʮٰ̡؇ɽึʿᗳйٰ؇ึᄲᙄஷཀ͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎબᛆԫ֝ܝd̙͟ԫึᔷબᛆʮ̡ԫڗeᐼאԫึ।ࣣdఊዹאΝΌᛆஈଣ͉ϣ೯Бٙᗫԫ֝f (VIII)બᛆᗫɛɻ፬ଣʮක೯БAٰ̙ᔷ౬ʮ̡වՎᗫԫ֝ ࣬ኽᗫܛجeج˸ʿʮ̡ٙϞᗫ֛dʮ̡ԫึᏝબᛆԫڗeᐼאԫึ।ࣣᗫɛɻdίϋ؇ٰܓɽึʿᗳйٰ؇ึᙄᄲᙄஷཀٙ࣪ݖձۆࡡɨdΝאఊዹ፬ଣ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯Бٙᗫԫ֝fબᛆಂࠢމϋٰܓ؇ɽึʿᗳйٰ؇ึᙄӔᙄ͛ࣖʘ˚ৎ12˜ࡈd༈બᛆಂ֣ࠢတۃdԫึਗ਼࣬ኽ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯БٙྼყઋرdΣ͉ʮٰ̡؇ɽึʿᗳйٰ؇ึᙄሗҭࡘอٙબᛆf Ոબᛆʫ࢙ʿᇍఖܼ̍Шʔࠢj (i)࣬ኽʕجܛجeᗇՎ္၍ٙژϞᗫ֛ʿ͉ʮ̡ՈઋرdՓ֛ձྼ݄͉ϣ೯БٙՈ˙ࣩd࿁Aٰ̙ᔷ౬ʮ̡වՎٙ೯БૢಛආБቇࡌࠈeሜձ̂dί೯БۃᆽՈٙ೯Бૢಛʿ೯Б˙ࣩdՓ֛ձྼ݄͉ϣ೯Бٙ௰˙ࣩdܼ̍Шʔࠢᆽ֛೯Бᅼe೯Б˙όʿ࿁eΣࡡAٰٰ؇ᎴৣਯٙˢԷeڋᔷٰᄆࣸٙᆽ֛eᔷٰᄆ͍ࣸࡌeᛙΫeවՎлଟe֛ߒවՎܵϞɛึᙄٙᛆлʿՉ̜කҏ˸ʿӔᙄٙ͛ࣖૢeӔ֛͉ϣ೯Бࣛዚeᄣணණ༟ږਖ਼˒eᖦණ༟ږਖ਼˒πᎷɧ˙္၍ᙄʿՉ̴ၾ೯Б˙ࣩᗫٙɓʲԫ֝i (ii)ҭࡘeᖦeࡌҷêeʹeяజeੂБၾ͉ϣ೯БϞᗫٙɓʲᙄe͡జ˖ձՉ˼˖dԨ፬ଣᗫٙ͡ሗeజҭe೮াe௪ࣩഃ˓ᚃi –28– ԫึՌ (iii)໌ሗᗫʕʧዚԨၾʘᖦᗫᙄd፬ଣ͉ϣ೯Бٙᗫԫ֝i࣬ኽ္၍ࠅٙژӋႡЪeࡌҷeజϞᗫ͉ϣ೯Бʿɪ̹ٙ͡జҿࣘdΌᛆΫూᗇՎ္၍ٙژˀ㉿จԈi (iv)፬ଣ͉ϣ೯Бණ༟ږԴ͜ᗫԫ֝dԨίٰ؇ɽึʿᗳйٰ؇ึӔᙄᇍఖʫ࿁͉ϣ೯Бණ༟ږԴ͜ʿՈτરආБሜi (v)͉ϣ೯Бҁϓܝd፬ଣ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎίɪऎᗇՎʹהʿʕᗇՎ೮াഐၑϞࠢபʮ̡ɪऎʱʮ̡೮াeɪ̹ഃᗫԫ֝i (vi)࣬ኽ͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Бձᔷٰઋرቇࣛࡌҷʮ̡ʕٙᗫૢಛdԨ፬ଣʈਠ௪ࣩeൗ̅༟͉ᜊһ೮াഃԫ֝i (vii)ί፭ς֣ࣛቇٙ͜ʕۃٙܛجɨdνܛجeجʿՉ˼ᇍ˖ձϞᗫ္၍ژ࿁ɪ̹ʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎ݁ഄϞอ֛ٙ˸ʿ̹ఙઋر೯͛ᜊʷdৰऒʿϞᗫجܛجʿʮٰ̡֛͟؇ɽึʿᗳйٰ؇ึࠠอڌӔ˲ʔʪબᛆٙԫධd࣬ኽϞᗫ֛˸ʿᗇՎ္၍ࠅٙژӋܼ̍࿁͉ϣ೯Б͡ሗٙᄲࣨˀ㉿จԈձ̹ఙઋر࿁͉ϣ೯Б˙ࣩeණ༟ږҳΣഃආБሜԨᘱᚃ፬ଣ͉ϣ೯Бԫ֝i (viii)ί̈ତʔ̙ҤɢאՉ˼ԑ˸Դ͉ϣ೯Б˙ࣩᗭ˸ྼ݄eא٫ᒱ್̙˸ྼ݄Шึഗʮ̡੭Ըʔл؈ܝʘઋҖdא೯БAٰ̙ᔷ౬ʮ̡වՎ݁ഄ೯͛ᜊʷࣛdઋӔ֛͉ϣ೯Б˙ַࣩಂྼ݄אۃ˟i (ix)ίᗫجܛجʪٙۃɨd˾͉ڌʮ̡ਂ̈ၾ͉ϣ೯БϞᗫٙ̀ცeܦձΥቇٙהϞՉ˼ԫධf –29– ԫึՌ (IX)ʮක೯БAٰ̙ᔷ౬ʮ̡වՎᛅᑛуಂΫజʿ෬ણ݄ ͉ϣ೯Бŭٰ̙ᔷ౬ʮ̡වՎᛅᑛуಂΫజʿ෬ણ݄Ό˖༱͉ஷՌڝʞfᛅᑛуಂΫజʿ෬ણ݄ʊ2017ϋ4˜6˚ԫึᄲᙄஷཀԨӔᙄሗٰ؇ϋܓٰ؇ɽึʿᗳйٰ؇ึᙄɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩ˙όҭࡘ༈ᛅᑛуಂΫజʿ෬ણ݄f ཀ̘ɤɚٰ͉ٙ˜ࡈණ༟ݺਗ ͉ʮ̡ၡટ௰ྼܝყ̙Б˚ಂٙۃɤɚ˜ࡈආБʘٰ͉ණ༟ݺਗ༱ΐνɨj ʮѓŊஷՌ˚ಂ ණ༟ݺਗ ᘪණהಛධଋᕘ฿הߒಛධଋᕘʘᏝ֛͜ הಛධଋᕘʘྼყ͜ ͉ʮ̡˚ಂމ2014ϋ9˜29˚e2014ϋ11˜14˚e2014ϋ12˜1˚e2014ϋ12˜5˚e2015ϋ10˜19˚e2015ϋ12˜7˚e2015ϋ12˜29˚e2016ϋ2˜2˚e2016ϋ3˜23˚e2016ϋ6˜22˚e2016ϋ9˜29˚e2016ϋ10˜14˚e2016ϋ11˜4˚e2016ϋ11˜9˚e2016ϋ11˜18˚e2016ϋ11˜25˚e2016ϋ12˜8˚e2016ϋ12˜15˚ʿ2016ϋ12˜30˚ٙʮѓ˸ʿ͉ʮ̡˚ಂމ2014ϋ10˜29˚e2015ϋ11˜20˚e2016ϋ3˜8˚ʿ2016ϋ11˜3˚ٙஷՌ Aٰ೯Б ɛ͏࿆28ᄂʩ ϔৰAٰ೯Б൬͜ܝdਗ਼Ό͉̂͜ʮ̡ٙᐄ༶༟ږd˸˕͉ܵʮ̡͊Ըุਕٙ೯࢝dڮආ͉ʮ̡ଫ೯ͦ࢝ᅺٙྼତfණ༟ږՈ͜ձτરՉʕܼ̍j 1̋ɽ༟͉ʕʧุਕٙ༟ৣږໄᅼi 2ጐุ̮ྤ࢝ןਕi 3ᄣ̋ձᎴʷၣᓃб҅eܔணڢତఙਕ̨̻dʺุߏਕྼɢi 4࣬ኽ̹ఙઋرቇܓᓒɽІᐄุਕᅼi ࿚Ї2017ϋ3˜31˚dϔৰAٰ೯Б൬͜ܝdණ༟ږʊ͜˸ɨ͜j 1ߒ80%ʊ͜Ъ̋ɽ༟͉ʕʧุਕٙ༟ৣږໄᅼi 2ߒ9%ʊ͜Ъ࣬ኽ̹ఙઋرቇܓᓒɽІᐄุਕᅼiʿ 3ߒ0.1%ʊ͜Ъ̋ɽ࿁௴อุਕٙ༟˕ږܵf 5৷ҳ༟ვБוቖঐɢձɛุࡰਕঐɢi 6ᖢਂ੶༟ପ၍ଣุਕdʺҳձၝΥБቖঐɢi 7࿁ʕཻක๕௴ุҳ༟၍ଣϞࠢʮ̡ᄣ༟i 8࿁ʕࡡಂٰ΅Ϟࠢʮ̡ᄣ༟i 9̋ɽ࿁௴อุਕٙ༟ܵ˕ږi 10̋Ҟʝᑌၣږፄܔணiʿ 11੶ʷࢹڦӻ୕ܔணഃධͦf –30– ԫึՌ ৰɪ̮ࠑd͉ʮ̡ၡટ௰ྼܝყ̙Б˚ಂٙۃɤɚ˜ࡈԨೌආБОٰ͉ණ༟ݺਗf೯БAٰ̙ᔷ౬ʮ̡වՎٙଣ͟ʿႢू މආɓӉʺଋ༟͉ᅼdတԑ͊Ըධุਕ೯࢝࿁ଋ༟͉ձᐄ༶༟ٙږცӋd͉ʮ̡Ꮭஷཀʮක೯БAٰ̙ᔷ౬͉ʮ̡වՎණ༟ږʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩɛ͏࿆dϔৰ೯Б൬͜ܝΌ̂͜ᐄ༶༟ږdίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰܝᄣ͉̋ʮ̡༟͉ږd˸˕ܵ͊Ըุਕ೯࢝dΌࠦʺ͉ʮ̡̹ٙఙᘩنɢձҤࠬᎈঐɢdһλήҪʕࡡਜ೯ٙ࢝ዝ̦ࣛዚdܱઢیئᗇՎБุ೯࢝ᆑɢdᏐ࿁ʕᗇՎБุҞ೯࢝੭Ըٙዚ༾ၾܿdڮආ͉ʮ̡ଫ೯ͦ࢝ᅺٙྼତfɪ̹ٙۆ່ ࣬ኽɪ̹ۆୋ19A.38ૢd͉ϣ೯Бٙतйબᛆ፭ςϋ؇ٰܓɽึձᗳйٰ؇ึᙄҭٙࡘ֛f Ϟᗫ͉ϣ೯Бʿतйબᛆٙܔᙄ2017ϋ4˜6˚ᐏԫึϽᅇʿҭࡘf฿ೌԫɪࠑԫ֝ʕኹϞࠠɽᛆूdΪϤ฿ೌԫ׳ఱϞᗫԫึӔᙄࣩҳୃf ԫึཫಂ͉ʮ̡ਗ਼ᘱᚃၪܵԑٙʮٰܵඎ˸ୌΥɪ̹ۆʕቇٙ͜௰ЭࠅӋfϋ؇ٰܓɽึʿᗳйٰ؇ึᙄ ͉ʮ̡ᔫࠈ2017ϋ5˜22˚ಂɓɪʹ9ࣛ30ʱeɪʹ11ࣛאၡᎇϋ؇ٰܓɽึഐҼַאಂ˸ܝ༰ૉ٫މʿɪʹ11ࣛ30ʱאၡᎇHٰᗳйٰ؇ึᙄഐҼַאಂ˸ܝ༰ૉ٫މʕیئቍψ̹ਜڎႷ༩1රڎئႷึᙄʕːʱйᑘБϋ؇ٰܓɽึeHٰᗳйٰ؇ึᙄʿAٰᗳйٰ؇ึᙄf ฿ೌٰ؇ఱяϋ؇ٰܓɽึאᗳйٰ؇ึᙄҭٙࡘӔᙄࣩ׳ҳୃf –31– ԫึՌ ϋ؇ٰܓɽึʿHٰᗳйٰ؇ึᙄቇٙ͜˾ଣ։ৄࣣʊ2017ϋ4˜7˚೯ഗcტɨfೌሞcტɨঐщፋԒ̈ࢩϋ؇ٰܓɽึʿHٰᗳйٰ؇ึᙄdਕሗးҞਗ਼ቇٙ͜˾ଣ։ৄࣣܲՉΙΐܸٙͪ෬ѼԨʹΫfHٰٰ؇ᏐʹΫ˾ଣɛ։ࣸڌЇ͉ʮ̡ٙHٰཀ˒೮াஈ࠰ಥʕ̯ᗇՎ೮াϞࠢʮ̡dήѧ࠰މಥᝄ˺ެΧɽ༸؇183Υձʕː17Mᅽd˲းҞԨίОઋرɨʔ፰ϞᗫึᙄאՉОᚃึܸ֛ᑘБࣛග֛ܸאආБҳୃڌӔࣛග24ʃࣛʹۃΫfcტɨ෬ѼԨʹΫ˾ଣ։ৄࣣܝdʥ̙ԱᗴፋԒ̈ࢩϞᗫึᙄאՉОᚃึdԨึɪҳୃfҳୃڌӔ ࣬ኽɪ̹ۆୋ13.39
(4)ૢdٰ؇ٰ؇ɽึɪהЪ̈ٙОڌӔ˸ҳୃ˙όආБfΪϤdఱϋ؇ٰܓɽึʿᗳйٰ؇ึᙄஷѓʱй༱ϞٙӔᙄࣩЪ̈ٙڌӔਗ਼࣬ኽʮ̡ୋ124ૢ˸ҳୃ˙όආБf ҳୃڌӔࣛdӊΤፋԒא։˾ݼଣɛ̈ࢩϋ؇ٰܓɽึאᗳйٰ؇ึᙄʘٰ؇אνމʮ̡Չ͍όબᛆ˾̙ڌఱٰ؇Τ̅ʫ˸ՉΤ່೮াʘӊٰٰ΅ҳɓୃfϞᛆҳεɓୃʘٰ؇ˡԴ͜ՉהϞҳୃᛆ˸אΝ˙όԴ͜ՉהϞҳୃᛆfપᑥܔᙄ ԫึႩהމϞਗ਼ίϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪяٙӔᙄࣩѩୌΥ͉ʮ̡ʿՉٰ؇ٙлूd݂ܔᙄcტɨҳୃᗎϓהϞਗ਼ึɪяٙӔᙄࣩfபᑊ ͉ஷՌٙ༟ࣘɗ፭ɪ̹̊ۆ༱dϙίԶϞᗫ͉ʮ̡ٙ༟ࣘdԫᗴఱϤΝʿࡈйוዄΌபfԫЪ̈ɓʲΥଣݟ༔ܝᆽႩdఱ־ഃٝהʿڦהd͉ஷՌה༱༟ࣘίࠠࠦ˙ࠅѩ᙮ᆽҁ௪dʿԨೌႬኬאಜൟϓ΅d˲Ԩೌ፲ဍОՉ˼ԫྼdߧԴ͉ஷՌאՉה༱Оࠑପ͛Ⴌኬf –32– ԫึՌ̋ڝ༟ࣘ ᔫሗcტɨ͉ۧءஷՌڝה༱ٙՉ˼༟ࣘfϤߧΐЗٰ؇c̨ 2017ϋ5˜5˚ וԫึնʕࡡ證Վٰ΅Ϟࠢʮ̡ ԫڗളࠏᔫ઼ –33– ڝɓ HٰΫᒅ˙ࣩબᛆʘႭՌ ͉ڝɗɪ̹הۆ֛ٙႭՌdϙίΣcტɨԶ̀ٙࠅ༟ࣘdᜫcტɨঐఱҳୃᗎϓאˀ࿁ҭࡘબʚԫᒅΫબᛆٙतйӔᙄࣩЪ̈ٝઋӔ֛f ϞᗫᒅΫᗇՎٙɪ̹ۆ ɪ̹ࡘۆᑌʹהЪୋɓɪ̹ٙʮ̡ᑌʹהᒅΫՉᗇՎdઓա߰ʍࠢ
ՓdՉʕ௰ࠠࠅ٫฿ࠑνɨf͉ʮ̡ᐏʮ̡ረᛆᒅΫՉ͉ԒٙᗇՎf ٰ͉ ௰ྼܝყ̙Б˚ಂd͉ʮ̡ൗٰ͉̅މɛ͏࿆3,923,734,700ʩdܼ̍2,673,705,700ٰAٰʿ1,250,029,000ٰHٰfܙબ̈ᒅΫબᛆʘяӔᙄࣩᐏஷཀd˲͉ʮ̡ϋ؇ٰܓɽึʿᗳйٰ؇ɽึ˚ಂאʘۃਗ਼ʔึৣ೯ʿ೯БאᒅΫHٰd͉ۆʮ̡ਗ਼Ϟᛆ࣬ኽᒅΫબᛆᒅΫ௰ε125,002,900ٰHٰdу௰ε͉މʮ̡ᗫӔᙄࣩஷཀ˚ʊ೯БHٰᐼᅰٙ10%fᒅΫٙଣ͟ԫႩމdᒅΫબᛆୌΥ͉ʮ̡ʿٰ؇ٙлूfൖ˷̹ࣛٙఙઋرձ༟ږτરdБԴᒅΫબᛆ̙ঐ৷ӊٰ༟ପଋ࠽ʿŊאӊٰޮлdසԫႩމᒅΫਗ਼Ϟл͉ʮ̡ʿՉٰ؇ࣛdʑึБԴᒅΫબᛆf ᒅΫٙ༟ږ ᒅΫHٰࣛd͉ʮ̡̥̙༶࣬͜ኽʮ̡eɪ̹ۆʿʕቇ͜ܛجeۆʿԷ̙ΥجЪϤ͉ٙ͜ʮ̡ʫ༟๕ٙ༟ږdܼ̍Шʔ͉ࠢʮ̡ٙ௵ቱ༟ږձ͊ʱৣлᆗ˸אᒅΫٙͦމ೯Бอٰ΅הಛධf ϽᅇՑ͉ʮ̡ͦٙۃᐄ༶༟رًږdԫႩ߰މΌࠦБԴᒅΫબᛆd̙ঐਗ਼࿁͉ʮ̡ٙᐄ༶༟ږʿŊא༟͉ࠋවًرၾ͉ʮ̡࿚Їɚཧɓʬϋɤɚ˜ɧɤɓ˚˟ϋܓϋజה༱ٙ௰ڐಂ̊೯ᄲࣨሪͦמᚣʘɚཧɓʬϋɤɚ˜ɧɤɓ˚ًرˢ༰ପ͛ࠠɽʔлᅂᚤf್ϾdԫʔᏝආБОᒅΫd˸ߧ࿁ԫႩމʔࣛ࿁͉ʮ̡᙮ቇ͉ٙʮ̡ᐄ༶༟ږცӋא༟͉ࠋවًرϞࠠɽʔлᅂᚤfίОઋرɨdਗ਼ʚᒅΫٙHٰᅰͦd˸ʿᒅΫHٰٰٙᄆձՉ˼ૢಛdਗ਼͟ԫϞᗫࣛගϽᅇࣛઋرܝdίୌΥ͉ʮ̡௰ԳлूٙઋرɨӔ֛f –34– ڝɓ HٰΫᒅ˙ࣩબᛆʘႭՌ ᒅΫHٰٙήЗ ɪ̹ۆ֛d͉ʮ̡ᒅΫٙהϞHٰਗ਼Іਗቖɪ̹ήЗdϾϞᗫٰୃʚൗቖʿቖ์fܲʕܛجd͉ʮ̡ᒅΫٙHٰਗ਼ൗቖdϾ͉ʮ̡ൗ̅༟͉ਗ਼ಯ̘ၾൗቖHٰᐼࠦ࠽ഃٙږᕘf Hٰٰᄆ Hٰ௰ྼܝყ̙Б˚ಂۃཀ̘ɤɚ˜ࡈʫίᑌʹٙהӊ˜௰৷ʿ௰Эϓʹᄆࣸνɨj ௰৷ಥʩ ௰Эಥʩ ɚཧɓʬϋ̬˜ʞ˜ʬ˜ɖ˜ɞ˜ɘ˜ɤ˜ɤɓ˜ɤɚ˜ 4.2503.9303.5203.4703.7603.9204.2204.9804.660 3.8502.9703.0503.2603.2603.5203.6603.9004.100 ɚཧɓɖϋɓ˜ɚ˜ɧ˜̬˜ʞ˜࿚Ї௰ྼܝყ̙Б˚ಂ ԫוፕ 4.3804.6504.6204.2404.150 3.8903.8504.0503.9204.080 ԫʊΣᑌʹוהፕd־ഃਗ਼ቇ͜ઋرɨ࣬ኽᒅΫબᛆԨܲɪ̹ۆeʮ̡eቇٙ͜ʕܛجeۆʿجdБԴ͉ʮ̡ٙᛆɢЪ̈ᒅΫf ᛆूמᚣ ఱԫЪ̈ɓʲΥଣݟ༔הܝଉٝd฿ೌԫ־אഃٙၡᑌᖩɛͦۃϞจᒅΫબᛆίϋ؇ٰܓɽึʿᗳйٰ؇ɽึᐏҭܝࡘdΣ͉ʮ̡̈ਯО͉ʮ̡Hٰf –35– ڝɓ HٰΫᒅ˙ࣩબᛆʘႭՌ ௰ྼܝყ̙Б˚ಂd฿ೌ͉ʮ̡ࣨːᗫஹɛɻʊٝึ͉ʮ̡dࡊᒅΫબᛆᐏબ̈dՉͦۃϞจΣ͉ʮ̡̈ਯОHٰdϾ༈ഃࣨːᗫஹɛɻ͵ೌוፕʔึΣ͉ʮ̡̈ਯ־ഃܵϞʘОᗇՎf ϗᒅςۆʘ່ ͉ࡊʮ̡࣬ኽᒅΫબᛆБԴՉᛆɢᒅΫᗇՎd˸͉ܵה؇ٰݔߧʮ̡ٙҳୃᛆᛆूˢԷᄣ̋dۆఱϗᒅςۆۆ32ϾԊd༈ධᄣ̋ਗ਼ൖމɓධϗᒅfΪϤdɓΤٰ؇אɓଡ଼ɓߧБਗٰٙ؇̙ঐ՟אቩո͉ʮ̡ٙછՓᛆd˲࣬ኽϗᒅςۆۆ26ʿۆ32̈੶Փߒࠅf ௰ྼܝყ̙Б˚ಂdఱԫٝהʿڦהj(i)یئҳ༟ණྠ؇ٰࠅ˴މdܵϞ822,983,847ٰAٰdЦ͉ʮ̡ൗ̅༟͉ߒ20.975%i(ii)ಲऎਿږ၍ଣ˾ڌಲऎਿږʿಲऎਿ؇ٰࠅ˴މږdܵϞ608,000,000ٰAٰdЦ͉ʮ̡ൗ̅༟͉ߒ15.495%fਿ௰ྼܝყ̙Б˚ಂʊ೯Б3,923,734,700ٰٰ΅dԨணϋ؇ٰܓɽึʿᗳйٰ؇ɽึ˚ಂאʘۃd͉ʮ̡ʔึ೯БאᒅΫОՉ˼ٰ΅d߰ۆᅰБԴᒅΫબᛆdیئҳ༟ණྠʿՉၡᑌᖩɛܼ̍ɽئॷุ͉ʮ̡ܵϞٙᛆूϵʱˢਗ਼ᄣЇЦ͉ʮ̡ࣛൗٰ͉̅ߒ22.660%dಲऎਿږ၍ଣ˾ڌಲऎਿږŊಲऎਿږʿՉഃၡᑌᖩɛ͉ʮ̡ܵϞٙᛆूϵʱˢਗ਼ᄣЇЦ͉ʮ̡ࣛൗٰ͉̅ߒ16.005%fԫ฿ʔٝ࣬ኽᒅΫબᛆආБОᒅΫਗ਼ପ͛ϗᒅςۆʿŊאОᗳЧቇ͜جԷɨٙО؈ܝfϤ̮dࡊ༈ධᒅΫਗ਼ኬߧʔୌɪ̹ۆୋ8.08ૢ֛ٙdۆԫʔึᑌʹהආБٰ΅ᒅΫf ͉ʮ̡ආБٙᗇՎᒅΫ ၡટ௰ྼܝყ̙Б˚ಂۃʬ˜ࡈd͉ʮ̡Ԩೌᒅ൯ОHٰʔሞίᑌʹאהృՉ˼ࢰf –36– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ͉ڝٙމ͉˖ߵՉʕ˖͉͍ٙڢόᙇ͉dνϞ່d฿˸ʕ˖͉މf ͉ʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩٙΌ˖༱ΐνɨj ʕࡡᗇՎٰ΅Ϟࠢʮ̡
ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ͉ʮ္̡ԫึʿΌ္ԫڭᗇ͉ʮѓʫ࢙ʔπίОൈা༱eႬኬאࠑ٫ࠠɽ፲ဍdԨ࿁Չʫྼॆ࢙ٙeᆽձҁוዄࡈйʿஹ੭பf ࠠࠅʫ࢙ͪj ͉ϣʮක೯БᗇՎΤ၈ʿ˙όjʮක೯Бᐼᕘʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩ
Aٰ̙ᔷ౬ʮ̡වՎ˸ɨᔊ၈͉ϣ೯Бf ᗫᑌ˙݊щਞၾ͉ϣʮක೯Бj͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎഗʚʮ̡ࡡAٰٰ؇ᎴৣਯᛆfՈᎴৣਯᅰඎٰ͟؇ɽึબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙઋرᆽ֛dԨί͉ϣ೯Бٙ೯Бʮѓʕʚ˸מᚣf༈ഃᎴৣਯਗ਼፭ςʕശɛ͏ձᗇՎجʿ࠰ಥᑌΥʹהϞࠢʮ̡ᗇՎɪ̹אۆОՉ̴္ִ݁א၍ዚٙהϞቇ͜جܛجʿԷܼ̍Ш݊ʔࠢᗫஹʹᗫٙۆձࠅӋd˙̙ໝྼf ɓe͉ϣ೯БୌΥɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جʮක೯БᗇՎૢٙႭ ࣬ኽʕശɛ͏ձʮ̡جeʕശɛ͏ձᗇՎجeɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جഃϞᗫܛجeجձᇍٙ˖֛dʕࡡ證Վٰ΅Ϟࠢʮ̡˸ɨᔊ၈ʕࡡᗇՎeʮ̡࿁ɪ̹ʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎٙᗫ༟ࣸձૢٙࠅӋdႩॆධІݟdႩމʮ̡ୌΥϞᗫ֛ձࠅӋdՈ௪ʮක೯БAٰ̙ᔷ౬ʮ̡වՎٙ༟ࣸձૢf –37– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɚe͉ϣ೯Б฿ر ɓ೯БᗇՎٙ၇ᗳ ͉ϣ೯БᗇՎٙ၇ᗳ̙މᔷ౬މʮ̡Aٰٰୃ̙ٙᔷ౬ʮ̡වՎ˸ɨᔊ၈Aٰ̙ᔷ౬ʮ̡වՎf༈Aٰ̙ᔷ౬ʮ̡වՎʿ͊Ըᔷ౬ٙAٰٰୃਗ਼ίɪऎᗇՎʹהɪ̹f ɚ೯Бᅼ ͉ϣᏝ೯БAٰ̙ᔷ౬ʮ̡වՎᐼᕘʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩdՈᅰᕘٰ͟؇ɽึબᛆʮ̡ԫึאՉ˼બᛆɛɻίɪࠑᕘܓᇍఖʫᆽ֛f ɧୃࠦږᕘձ೯Бᄆࣸ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܲࠦ࠽೯Бdӊੵࠦމ࠽ɛ͏࿆100ʩf ̬වՎಂࠢ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎಂࠢމ೯Бʘ˚ৎʬϋf ʞවՎлଟ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٙୃࠦлଟٙᆽ֛˙όʿӊɓࢹࠇϋٙܓ௰лଟ˥̻dٰ͟؇ɽึબᛆʮ̡ԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ݁ഄe̹ఙًرձʮ̡Ոઋرၾڭᑥዚ˴וቖਠਠᆽ֛f ͉ϣAٰ̙ᔷ౬ʮ̡වՎί೯Бҁϓۃν༾ვБπಛлଟሜd؇ٰۆɽึબᛆԫึאՉ˼બᛆɛɻ࿁ୃࠦлଟЪᏐሜf ʬ˹ٙࢹಂࠢձ˙ό ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎમ͜ӊϋ˹ࢹɓϣٙ˹˙ࢹόdՑಂᓥᒔהϞՑಂ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎ͉ږձ௰ܝɓϋлࢹf –38– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ 1eϋлࠇࢹၑ ϋлܸࢹAٰ̙ᔷ౬ʮ̡වՎܵϞɛܲܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘІAٰ̙ᔷ౬ʮ̡වՎ೯Б˚ৎӊတɓϋ̙Ԯաٙಂлࢹf ϋлࠇٙࢹၑʮόމjI=BÒi Ijܸϋлࢹᕘi Bjܸ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛίࢹࠇϋ˸ܓɨᔊ၈ϋ
אӊϋ˹ࢹවᛆ೮া˚ܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi ijܸAٰ̙ᔷ౬ʮ̡වՎٙϋୃࠦлଟf 2e˹˙ࢹό
(1)͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎમ͜ӊϋ˹ࢹɓϣٙ˹˙ࢹόdࢹࠇৎ˚މAٰ̙ᔷ౬ʮ̡වՎ೯Б˚f
(2)˹˚ࢹjӊϋٙ˹͉މ˚ࢹϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ೯Б˚ৎӊတɓϋٙ˚dν༈˚˚ࢹ;א˚ື֛جމdۆනַЇɨɓʹࡈ˚dනַಂගʔ̤˹ࢹfӊቌٙՇ˚ࢹ˹ࡈʘගމɓࢹࠇࡈϋܓf
(3)˹ࢹවᛆ೮া˚jӊϋٙ˹ࢹවᛆ೮া˚މӊϋ˹ۃٙ˚ࢹɓʹ˚dʮ̡ਗ਼ίӊϋ˹˚ࢹʘٙܝʞʹࡈ˚ʫ˕˹ϋлࢹfί˹ࢹවᛆ೮া˚ࢹ˹ܼ̍ۃවᛆ೮া˚͡ሗᔷ౬ϓʮ̡AٰٰୃٙAٰ̙ᔷ౬ʮ̡වՎdʮ̡ʔΎΣՉܵϞɛ˕˹͉ࢹࠇϋܓʿ˸ࢹࠇܝϋٙܓлࢹf
(4)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛהᐏлࢹϗɝٙᏐ˹ධܵ͟Ϟɛוዄf –39– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɖᔷٰಂࠢ ͉ϣAٰ̙ᔷ౬ʮ̡වՎᔷٰಂІAٰ̙ᔷ౬ʮ̡වՎ೯БഐҼʘ˚တʬܝ˜ࡈٙୋɓʹࡈ˚ৎЇAٰ̙ᔷ౬ʮ̡වՎՑಂ˚˟f ɞᔷٰᄆࣸٙᆽ֛ʿՉሜ 1eڋᔷٰᄆࣸٙᆽ֛Աኽ ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎٙڋᔷٰᄆࣸʔЭණႭࣣʮѓ˚ۃɧɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ߰ί༈ɧɤʹࡈ˚ʫ೯͛ཀΪৰᛆeৰˏࢹৎٰᄆሜٙઋҖdۆ࿁ሜʹۃ˚ٙϗᆵᄆܲཀᏐৰᛆeৰࢹሜٙܝᄆࣸࠇၑeۃɚɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ߰ί༈ɚɤʹࡈ˚ʫ೯͛ཀΪৰᛆeৰˏࢹৎٰᄆሜٙઋҖdۆ࿁ሜʹۃ˚ٙϗᆵᄆܲཀᏐৰᛆeৰࢹሜٙܝᄆࣸࠇၑձۃɓʹࡈ˚ʮ̡Aٰٰୃʹѩᄆʕٙ௰৷٫dՈڋᔷٰᄆࣸ͟ʮٰ̡؇ɽึબᛆʮ̡ԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙًرၾڭᑥዚ˴וቖਠਠᆽ֛f ۃɧɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ=ۃɧɤʹࡈ˚ʮ̡AٰٰୃʹᐼᕘŊ༈ɧɤʹࡈ˚ʮ̡Aٰٰୃʹᐼඎiۃɚɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ=ۃɚɤʹࡈ˚ʮ̡AٰٰୃʹᐼᕘŊ༈ɚɤʹࡈ˚ʮ̡Aٰٰୃʹᐼඎiۃɓʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ=ۃɓʹࡈ˚ʮ̡AٰٰୃʹᐼᕘŊ༈˚ʮ̡Aٰٰୃʹᐼඎf –40– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ 2eᔷٰᄆࣸٙሜ˙όʿࠇၑʮό ί͉ϣ೯Бʘܝdʮ̡Ϊݼٰୃٰлeᔷᄣٰ͉eᄣ೯อٰٰৣאeݼତٰږлഃઋرʔܼ̍Ϊ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎᔷٰϾᄣٰ͉̋ٙࣛdਗ਼ܲɨࠑʮόආБᔷٰᄆࣸٙሜڭवʃᅰᓃܝՇЗd௰ܝɓЗ̬વʞɝj ݼٰୃٰлאᔷᄣٰ͉jP1ØP0Ŋ(1+n)i ᄣ೯อٰٰৣאjP1ØP0+AÒkŊ(1+k)i ɪࠑՇධΝࣛආБjP1ØP0+AÒkŊ(1+n+k)i ݼତٰږлjP1ØP0-Di ɪࠑɧධΝࣛආБjP1ØP0-D+AÒkŊ(1+n+k)f ՉʕjP0މሜۃᔷٰᄆdnݼމٰୃٰлאᔷᄣٰ͉ଟdkމᄣ೯อٰٰৣאଟdAމᄣ೯อٰᄆٰৣאᄆdDމӊٰݼତٰږлdP1މሜܝᔷٰᄆf ʮ̡̈ତɪ΅ٰࠑձŊ؇ٰאᛆूᜊʷࣛdਗ਼ԱϣආБᔷٰᄆࣸሜdԨίʕᗇ္ึܸ֛ٙɪ̹ʮ̡מࢹڦᚣదɪ̊೮ʮѓdԨʮѓʕ༱ᔷٰᄆࣸሜ˚eሜ፬جʿᅲ৾ᔷٰࣛಂνცiԨ࣬ኽ࠰ಥᑌΥʹהϞࠢʮ̡ᗇՎɪ̹ۆഃجܛجʿԷί࠰ಥ̹ఙʚ˸ʮбνცfᔷٰᄆࣸሜ˚͉މϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰ͡ሗ˚אʘܝdᔷ౬ٰ΅೮া˚ʘۃdۆ༈ܵϞɛٙᔷٰ͡ሗܲʮ̡ሜٙܝᔷٰᄆࣸੂБf ʮ̡̙ঐ೯ٰ͛΅ΫᒅeΥԻeʱͭאОՉ˼ઋҖԴʮٰ̡΅ᗳйeᅰඎձŊ؇ٰאᛆू೯͛ᜊʷϾ̙ঐᅂᚤ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛٙවᛆлूאᔷٰ͛ࠃᛆूࣛdʮ̡ਗ਼ൖՈઋܲرʮ̻eʮ͍eʮʪٙ˸ۆࡡʿ̂ʱڭᚐ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛᛆूٙۆࡡሜᔷٰᄆࣸfϞᗫᔷٰᄆࣸሜʫ࢙ʿЪ፬جਗ਼Աኽ֣ࣛϞᗫجܛجʿᗇՎ္၍ٙژᗫ֛Փࠈf –41– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɘᔷٰᄆࣸΣɨૢ͍ࡌಛ 1e͍ࡌᛆࠢၾ͍ࡌషܓ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎπᚃಂගdʮ̡Aٰٰୃίจஹᚃɧɤʹࡈ˚ʕϞɤʞʹࡈ˚ٙϗᆵᄆЭಂᔷٰᄆࣸٙ90%ࣛdʮ̡ԫึϞᛆ̈ᔷٰᄆࣸΣɨࣩ˙͍ࡌԨʹʮٰ̡؇ɽึᄲᙄڌӔfɪࣩ˙ࠑ̈ึࢩᙄٰٙ؇ڌܵהӔᛆٙɧʱʘɚ˸ɪஷཀ˙̙ྼ݄fٰ؇ɽึආБڌӔࣛdܵϞ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٰٙ؇ᏐΫᒒfٙܝ͍ࡌᔷٰᄆࣸᏐʔЭ؇ٰٙࠑۃɽึ̜ක˚ۃɧɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆeۃɚɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆձۃɓʹࡈ˚ʮ̡Aٰٰୃʹѩᄆʕٙ௰৷٫f ߰ίࠑۃɧɤʹࡈ˚ʫ೯͛ཀᔷٰᄆࣸሜٙઋҖdۆίᔷٰᄆࣸሜ˚ʹٙۃ˚ܲሜٙۃᔷٰᄆࣸձϗᆵᄆࠇၑdίᔷٰᄆࣸሜ˚ʿʘʹٙܝ˚ܲሜٙܝᔷٰᄆࣸձϗᆵᄆࠇၑf 2e͍ࡌҏ νʮ̡Ӕ֛Σɨ͍ࡌᔷٰᄆࣸdʮ̡ਗ਼ίʕᗇ္ึܸ֛ٙɪ̹ʮ̡ࢹڦמᚣదɪ̊೮ᗫʮѓdʮѓ͍ࡌషܓeٰᛆ೮া˚ձᅲ৾ᔷٰಂගഃϞᗫڦࢹνცiԨ࣬ኽ࠰ಥᑌΥʹהϞࠢʮ̡ᗇՎɪ̹ۆഃجܛجʿԷί࠰ಥ̹ఙʚ˸ʮбνცfٰᛆ೮া˚ٙܝୋɓʹࡈ˚уᔷٰᄆ͍ࣸࡌ˚ৎdකܨూᔷٰ͡ሗԨੂБٙܝ͍ࡌᔷٰᄆࣸf ߰ᔷٰᄆࣸމ˚͍ࡌᔷٰ͡ሗ˚אʘܝdᔷ౬ٰ΅೮া˚ʘۃd༈ᗳᔷٰ͡ሗᏐܲٙܝ͍ࡌᔷٰᄆࣸੂБf –42– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɤᔷٰٰᅰᆽ֛˙ό˸ʿᔷٰࣛʔԑɓٰږᕘٙஈଣ፬ج ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛίᔷٰಂʫ͡ሗᔷٰࣛdᔷٰᅰඎٙࠇၑ˙όމjQ=V/PdԨ˸̘҈ج՟ɓٰٙᅰ࠴fՉʕj Q̙މᔷ౬ٰٙୃᅰඎi VމAٰ̙ᔷ౬ʮ̡වՎܵϞɛ͡ሗᔷٰٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi P͡މሗᔷٰ˚Ϟࣖٙᔷٰᄆࣸf ᔷٰࣛʔԑᔷ౬މɓٰٙAٰ̙ᔷ౬ʮ̡වՎቱᕘdʮ̡ਗ਼ܲɪऎᗇՎʹה
ഃٙژϞᗫ֛dίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰ˚ٙܝʞʹࡈ˚ʫ˸ତږг˹༈Aٰ̙ᔷ౬ʮ̡වՎቱᕘʿ༈ቱᕘה࿁ᏐٙಂᏐࠇлࢹf ɤɓᛙΫૢಛ 1eՑಂᛙΫૢಛ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎಂတܝʞʹࡈ˚ʫdʮ̡ਗ਼ᛙΫΌ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎdՈᛙΫᄆٰࣸ͟؇ɽึબᛆԫึאՉ˼બᛆɛɻ࣬ኽ೯Б̹ࣛఙઋرၾڭᑥዚ˴וቖਠਠᆽ֛f 2eϞૢᛙΫૢಛ ᔷٰಂʫdν؈ʮ̡Aٰٰୃஹᚃɧɤʹࡈ˚ʕЇˇϞɤʞʹࡈ˚ٙϗᆵᄆʔЭಂᔷٰᄆࣸٙ130%ў130%d͉אϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ͊ᔷٰቱᕘʔԑɛ͏࿆3,000ຬʩࣛdʮ̡ϞᛆӔ֛ܲවՎࠦ̋࠽ಂᏐࠇлٙࢹᄆࣸᛙΫΌאʱ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎf –43– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ಂᏐࠇлࠇٙࢹၑʮόމjIA=BÒiÒt/365 IAjܸಂᏐࠇлࢹi Bjܸ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi ijܸAٰ̙ᔷ౬ʮ̡වՎϋୃࠦлଟi tjܸ˂ࢹࠇᅰdуɪɓ˚ࢹ˹ࡈৎЇ͉ࢹࠇϋܓᛙΫ˚˟ٙྼყ˚˂ᅰၑ᎘ʔၑ҈f ߰ίࠑۃɧɤʹࡈ˚ʫ೯͛ཀᔷٰᄆࣸሜٙઋҖdۆίᔷٰᄆࣸሜ˚ʹٙۃ˚ܲሜٙۃᔷٰᄆࣸձϗᆵᄆࠇၑdίᔷٰᄆࣸሜ˚ʿʘʹٙܝ˚ܲሜٙܝᔷٰᄆࣸձϗᆵᄆࠇၑf ɤɚΫਯૢಛ ͉߰ϣ೯БAٰ̙ᔷ౬ʮ̡වՎණ༟ږ༶ٙ͜ྼ݄ઋرၾʮ̡ίණႭࣣʕٙוፕˢ̈ତᜊʷd˲༈ᜊʷʕᗇ္ึႩ֛މҷᜊණ༟͜ږٙdAٰ̙ᔷ౬ʮ̡වՎܵϞɛԮϞɓϣ˸ࠦ̋࠽ɪಂᏐࠇлٙࢹᄆࣸΣʮ̡ΫਯՉܵϞٙΌאʱAٰ̙ᔷ౬ʮ̡වՎٙᛆлfίɪࠑઋҖɨdAٰ̙ᔷ౬ʮ̡වՎܵϞɛ̙˸ίΫਯ͡జಂʫආБΫਯdίΫਯ͡జಂʫʔྼ݄ΫਯٙdІਗఄ̰༈Ϋਯᛆf ɤɧᔷٰϋܓϞᗫٰлٙᓥ᙮ Ϊ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎᔷٰϾᄣ̋ٙʮ̡AٰٰୃԮϞၾࡡAٰٰୃΝഃٙᛆूdίٰл೯ٰٙ׳ᛆ೮া˚˚೮াί̅ٙהϞ౷ஷٰٰ؇ўΪAٰ̙ᔷ౬ʮ̡වՎᔷٰҖϓٰٙ؇ѩਞၾಂٰлʱৣdԮϞΝഃᛆूf –44– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɤ̬೯Б˙όʿ೯Б࿁ ͉ϣAٰ̙ᔷ౬ʮ̡වՎٙՈ೯Б˙όٰ͟؇ɽึબᛆԫึאՉ˼બᛆɛɻၾڭᑥዚ˴וቖਠਠᆽ֛f͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Б࿁ܵމϞʕᗇՎ೮াഐၑϞࠢபʮ̡ɪऎʱʮ̡ᗇՎሪ˒ٙІ್ɛeجɛeᗇՎҳ༟ਿږeୌΥܛج֛ٙՉ˼ҳ༟٫ഃܛجeجຫ˟٫ৰ̮f ɤʞΣࡡAٰٰ؇ৣਯٙτર ͉ϣ೯БഗʚࡡAٰٰ؇ᎴৣਯᛆfՈᎴৣਯᅰඎٰ͟؇ɽึબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙઋرᆽ֛dԨί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ೯Бʮѓʕʚ˸מᚣf༈ഃᎴৣਯਗ਼፭ςʕശɛ͏ձᗇՎجʿ࠰ಥᑌΥʹהϞࠢʮ̡ᗇՎɪ̹אۆОՉ̴္ִ݁א၍ዚٙהϞቇ͜جܛجʿԷܼ̍Ш݊ʔࠢᗫஹʹᗫٙۆձࠅӋd˙̙ໝྼf ɤʬවՎܵϞɛึᙄᗫԫධ 1eවՎܵϞɛٙᛆлၾ່ਕ
(1)වՎܵϞɛٙᛆл ǺԱՉܵהϞٙAٰ̙ᔷ౬ʮ̡වՎᅰᕘԮϞ֛ߒлࢹi ǻ࣬ኽૢ֛ߒਗ਼ܵהϞٙAٰ̙ᔷ౬ʮ̡වՎᔷމʮ̡Aٰٰ΅i Ǽ࣬ኽૢ֛ٙߒБԴΫਯᛆi ǽԱܛجeБ݁جʿʮ̡֛ٙᔷᜫeᗍၾאሯץՉܵהϞٙAٰ̙ᔷ౬ʮ̡වՎi ǾԱܛجeʮ̡֛ٙᐏϞᗫࢹڦi ǿ֛ܲٙߒಂࠢձ˙όࠅӋʮ̡Ꮅ˹Aٰ̙ᔷ౬ʮ̡වՎ͉ࢹi –45– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ȀԱܛجeБ݁جഃᗫ֛ਞၾא։ৄ˾ଣɛਞၾවՎܵϞɛึᙄԨБԴڌӔᛆi ȁܛجeБ݁جʿʮ̡הረʚٙՉЪމʮ̡වᛆɛٙՉ˼ᛆлf
(2)වՎܵϞɛ່ٙਕ Ǻ፭ςʮ̡ה೯БٙAٰ̙ᔷ౬ʮ̡වՎૢಛٙᗫ֛i ǻԱՉהႩᒅٙAٰ̙ᔷ౬ʮ̡වՎᅰᕘᖮॶႩᒅ༟ږi Ǽ፭ςවՎܵϞɛึᙄҖϓٙϞࣖӔᙄi ǽৰܛجeج֛ʿAٰ̙ᔷ౬ʮ̡වՎණႭࣣ֛ߒʘ̮dʔࠅӋʮ̡ۃᎵ˹Aٰ̙ᔷ౬ʮ̡වՎ͉ٙږձлࢹi ǾܛجeБ݁جʿʮ̡֛Ꮠ͟Aٰ̙ᔷ౬ʮ̡වՎܵϞɛוዄٙՉ˼່ਕf 2eවՎܵϞɛึᙄ̜ٙකઋҖ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎπᚃಂʫd೯͛ɨΐઋҖʘɓٙdʮ̡ԫึᏐ̜ණවՎܵϞɛึᙄj
(1)ʮ̡ᏝᜊһAٰ̙ᔷ౬ʮ̡වՎණႭࣣ֛ٙߒi
(2)ʮ̡͊ঐܲಂ˕˹͉ϣAٰ̙ᔷ౬ʮ̡වՎ͉ࢹi
(3)ʮ̡೯͛ಯ༟eΥԻeʱͭe༆א٫͡ሗॎପi
(4)೯͛Չ˼࿁වՎܵϞɛᛆूϞࠠɽྼሯᅂᚤٙԫධf –46– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ʮ̡ਗ਼ίණႭࣣʕڭ֛ߒᚐවՎܵϞɛᛆлٙ፬جd˸ʿවՎܵϞɛึᙄٙᛆлeҏձӔᙄ͛ࣖૢf ɤɖ͉ϣණ༟͜ږ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎהණ༟ږᐼᕘʔ൴ཀ27ᄂʩў27ᄂʩdϔৰ೯Б൬͜ܝΌ̂͜ᐄ༶༟ږd೯˴࢝ᐄุਕdίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰܝ̂༟͉ږf ɤɞዄڭԫධ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎʔԶዄڭf ɤɘණ༟ږπ၍ ʮ̡ʊͭܔʮ̡ණ༟ږ၍ଣՓܓd͉ϣ೯Бٙණ༟ږਗ਼π׳ʮ̡ԫึӔ֛ٙਖ਼ධሪ˒ʕdՈක˒ԫ֝ί೯Б͟ۃʮ̡ԫึᆽ֛f ɚɤ͉ϣӔᙄٙϞࣖಂ ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎӔᙄٙϞࣖಂމʮٰ̡؇ɽึձᗳйٰ؇ึᄲᙄஷཀ͉ϣ೯Б˙ࣩʘ˚ৎɤɚ˜ࡈf –47– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɧeৌਕึࢹڦࠇʿ၍ଣᄴীሞၾʱؓ ʮ̡2014ϋܓe2015ϋܓձ2016ϋܓৌਕజѓุ͑ڦʕձึࢪࠇԫਕהतࣿ౷ஷΥྫᄲࠇdԨ̈ՈəXYZH/2016BJA10669eXYZH/2017BJA10391ᅺೌڭवจԈٙᄲࠇజѓf ɓ௰ڐɧϋΥԻৌਕజڌ 1eΥԻ༟ପࠋවڌ ఊЗjʩ ༟ପ 2016ϋ12˜31˚2015ϋ12˜31˚2014ϋ12˜31˚ ༟ପj࿆༟ږՉʕj˒܄πಛഐၑ௪˹ږՉʕj˒܄௪˹ږ̈װ༟ږፄ̈༟ږ˸ʮʪᄆࠇ࠽ඎ˲Չᜊਗ ࠇɝಂฦूٙږፄ༟ପږ͛ࠃፄ༟ପ൯ɝڏਯږፄ༟ପᏐϗಛධᏐϗлࢹπ̈ڭᗇږྌʱܵމϞܙਯٙ༟ପ̙Զ̈ਯږፄ༟ପܵϞЇՑಂҳ༟ڗಂٰᛆҳ༟ҳ༟גήପո֛༟ପίܔʈೌҖ༟ପਠᚑַה༟ପՉ˼༟ପ༟ପᐼࠇ 12,090,415,132.847,720,676,538.033,096,957,086.102,353,173,197.34 –6,119,265,370.45 12,707,460,600.7710,739,355,587.374,455,615,703.223,356,888,084.19 –8,158,803,094.69 8,682,415,845.447,225,908,380.132,620,867,294.282,271,018,557.10 –7,331,517,309.15 8,037,095,626.37– 5,911,696,190.3043,496,697.92397,345,286.70490,078,050.96– 2,581,937,630.58– 370,421,607.8522,953,353.76238,033,229.014,051,439.24155,559,401.1321,466,082.83117,928,755.39685,871,695.6140,384,572,637.04 5,045,128,204.70– 6,826,689,334.4427,587,801.49257,757,840.45422,906,511.1039,428,945.46 2,443,599,475.10– 106,705,532.3321,225,064.10235,552,941.92 543,150.00155,960,703.60 7,268,756.37209,334,510.90529,680,445.7841,651,248,616.42 4,099,282,492.37– 2,889,714,967.2917,409,000.48173,998,005.45727,404,219.54–751,235,010.28–49,684,441.4023,066,429.75217,045,958.96100,000.00153,742,738.817,268,756.37104,468,520.25420,021,343.45 28,269,242,333.27 –48– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ࠋවʿٰ؇ᛆू ࠋවjಂ࠾ಛᏐ˹ಂፄ༟ಛװɝ༟ږ˸ʮʪᄆࠇ࠽ඎ˲Չᜊਗ ࠇɝಂฦूٙږፄࠋවږ͛ࠃፄࠋවር̈Ϋᒅږፄ༟ପಛ˾ଣ൯ርᗇՎಛʹ͜ڦ˾ଣ൯ርᗇՎಛ˾ଣוቖᗇՎಛᏐ˹ᔖʈᑚཇᏐʹ൬Ꮠ˹ಛධᏐ˹лࢹྌʱܵމϞܙਯٙࠋවཫࠋࠇවڗಂ࠾ಛᏐ˹වՎַࠋהවՉ˼ࠋවࠋවΥࠇٰ؇ᛆूjٰ͉༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗूޮቱʮጐɓছࠬᎈ௪ʹࠬᎈ௪͊ʱৣлᆗᓥ᙮͎ʮٰ̡؇ᛆूΥࠇˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇࠋවձٰ؇ᛆूᐼࠇ 2016ϋ12˜31˚2015ϋ12˜31˚2014ϋ12˜31˚ 661,118,923.353,809,755,009.59 400,000,000.00 –5,106,960,000.00 – –1,441,280,000.002,373,000,000.00 1,208,177,431.99131,955.20 5,607,978,821.819,426,088,091.08 942,002,264.58– 472,060,797.3296,475,098.96207,332,187.36354,923,124.12 ––55,327,275.465,494,298,598.0328,707,013.9373,427,210.8528,837,803,803.63 1,144,170,407.34– 4,712,964,571.2113,281,216,869.231,586,034,162.71 –711,032,900.34267,155,238.02152,466,664.69327,496,490.0311,695,776.24 –51,818,408.775,291,078,013.7749,157,422.6281,547,942.1832,774,794,867.15 791,073,957.93– 5,587,234,329.838,863,873,220.48 795,959,787.78– 375,914,561.22239,670,103.7392,165,449.54111,765,349.00 –––1,490,027,198.4927,836,514.57222,646,742.2622,412,447,214.83 3,923,734,700.003,842,379,808.39 –63,826,190.55697,014,082.63599,107,697.29564,870,336.92891,183,507.8810,582,116,323.66964,652,509.7511,546,768,833.4140,384,572,637.04 3,223,734,700.001,865,166,967.63 –36,261,558.91604,796,786.78531,481,680.34503,392,139.691,396,746,640.398,161,580,473.74714,873,275.538,876,453,749.2741,651,248,616.42 2,631,615,700.00504,887,745.32–26,508,007.42399,282,433.40380,771,154.53366,382,570.77 1,477,258,852.535,786,706,463.97 70,088,654.475,856,795,118.4428,269,242,333.27 –49– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ 2eΥԻлᆗڌ ఊЗjʩ ධͦ 2016ϋܓ 2015ϋܓ 2014ϋܓ ɓeᐄุϗɝ˓ᚃ൬ʿЩږଋϗɝՉʕjᗇՎุߏਕଋϗɝҳ༟ვБุਕଋϗɝҳ༟ፔ༔ุਕଋϗɝ༟ପ၍ଣุਕଋϗɝਿږ၍ଣุਕଋϗɝлࢹଋϗɝҳ༟ϗूฦ̰˸-෬ΐՉʕj࿁ᑌᐄΆุձΥᐄΆุٙ ҳ༟ϗूʮʪᄆ࠽ᜊਗϗूฦ̰˸-෬ΐිгϗूฦ̰˸-෬ΐՉ˼ุਕϗɝɚeᐄุ˕̈ږʿ̋ڝุਕʿ၍ଣ൬༟ପಯ࠽ฦ̰Չ˼ุਕϓ͉ɧeᐄุлᆗ̋jᐄุ̮ϗɝಯjᐄุ̮˕̈̋jܵϞܙਯɿʮ̡лᆗᐼᕘ̬eлᆗᐼᕘಯjה൬͜ʞeଋлᆗᓥ᙮͎ʮ̡הϞ٫ٙଋлᆗˇᅰٰ؇ฦू 2,026,810,960.791,259,619,100.49 715,338,829.85304,410,665.01123,506,393.8463,173,935.35 3,506,499.60318,306,944.02477,944,617.68 12,706,868.44 -60,751,105.21-3,442,833.2135,134,237.021,067,838,746.8357,418,589.521,009,437,684.55-27,005,101.4827,987,574.24958,972,213.9639,621,993.236,064,619.74-17,962,957.50974,566,629.95227,841,848.25746,724,781.70718,646,243.1128,078,538.59 4,004,355,251.902,716,354,159.222,128,093,353.37 209,363,864.17285,424,405.6753,079,392.97 554,972.67561,575,861.59599,018,351.30 1,725,476.63 56,061,634.0662,062,152.539,283,093.202,093,232,661.80255,484,062.301,709,009,930.66127,631,057.071,107,611.771,911,122,590.1021,225,594.036,957,329.28-34,421,696.141,890,969,158.71488,588,592.721,402,380,565.991,405,500,406.97-3,119,840.98 1,808,216,779.121,072,655,213.61 794,863,348.77100,757,994.55130,642,404.47 9,106,315.59403,163.07 274,986,314.16376,441,950.15 -315,558.60 73,245,007.163,529,031.517,359,262.531,078,677,482.41103,517,886.25946,477,300.2827,716,089.32 966,206.56729,539,296.7132,364,428.98 7,132,217.08– 754,771,508.61204,788,774.47549,982,734.14562,290,151.78-12,307,417.64 –50– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ධͦ ʬeՉ˼ၝΥϗूٙܝଋᕘɓ˸ܝʔঐࠠʱᗳආฦूٙՉ ˼ၝΥϗू
1.ࠠอࠇඎண֛աूࠇྌଋࠋ වאଋ༟ପٙᜊਗ
2.ᛆूجɨίҳ༟ఊЗʔঐ ࠠʱᗳආฦूٙՉ˼ၝΥϗूʕԮϞٙ΅ᕘɚ˸ܝਗ਼ࠠʱᗳආฦूٙՉ˼ၝΥϗू
1.ᛆूجɨίҳ༟ఊЗ˸ܝਗ਼ࠠʱᗳආฦूٙՉ˼ၝΥϗूʕԮϞٙ΅ᕘ
2.̙Զ̈ਯږፄ༟ପʮʪᄆ࠽ᜊਗฦू
3.ܵϞЇՑಂҳ༟ࠠʱᗳ̙މԶ̈ਯږፄ༟ପฦू
4.ତݴږࢁಂฦूٙϞࣖʱ
5.̮࿆ৌਕజڌұၑࢨᕘɖeၝΥϗूᐼᕘᓥ᙮͎ʮٰ̡؇ٙၝΥϗूᐼᕘᓥ᙮ˇᅰٰ؇ٙၝΥϗूᐼᕘɞeӊٰϗूɓਿ͉ӊٰϗूɚᙑӊٰϗू 2016ϋܓ33,449,696.04 –– –33,449,696.04 –6,168,845.75 ––27,280,850.29780,174,477.74746,210,874.7533,963,602.990.220.22 2015ϋܓ11,475,235.64 –– –11,475,235.64 –5,679,745.67 ––5,795,489.971,413,855,801.631,415,253,958.46-1,398,156.830.490.49 2014ϋܓ30,326,501.00 –– –30,326,501.00 –30,326,501.00 –––580,309,235.14592,616,652.78-12,307,417.640.240.24 –51– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ 3eΥԻତݴږඎڌ ఊЗjʩ ධͦ 2016ϋܓ 2015ϋܓ 2014ϋܓ ɓeᐄݺਗପ͛ٙତݴږඎjஈໄ˸ʮʪᄆࠇ࠽ඎ˲Չᜊਗࠇɝ ಂฦूٙږፄ༟ପଋᄣ̋ᕘϗ՟лࢹe˓ᚃ൬ʿЩٙږତږװɝ༟ږଋᄣ̋ᕘΫᒅุਕ༟ږଋᄣ̋ᕘፄ̈༟ږଋಯˇᕘ˾ଣ൯ርᗇՎϗՑٙତږଋᕘϗՑٙՉ˼ၾᐄݺਗϞᗫٙତږᐄݺਗତݴږɝʃࠇஈໄ˸ʮʪᄆࠇ࠽ඎ˲Չᜊਗࠇɝ ಂฦूٙږፄ༟ପଋಯˇᕘװɝ༟ږଋಯˇᕘΫᒅุਕ༟ږଋಯˇᕘፄ̈༟ږଋᄣ̋ᕘ˾ଣ൯ርᗇՎ˕˹ٙତږଋᕘ˕˹лࢹe˓ᚃ൬ʿЩٙږତږ˕˹ഗᔖʈ˸ʿމᔖʈ˕˹ٙତږ˕˹ٙධ൬˕˹ٙՉ˼ၾᐄݺਗϞᗫٙତږᐄݺਗତ̈ݴږʃࠇᐄݺਗପ͛ٙତݴږඎଋᕘɚeҳ༟ݺਗପ͛ٙତݴږඎjϗΫҳ༟ϗՑٙତږ՟ҳ༟ϗूϗՑٙତږஈໄɿʮ̡ʿՉ˼ᐄุఊЗ ϗՑٙତږଋᕘϗՑՉ˼ၾҳ༟ݺਗϞᗫٙତږҳ༟ݺਗତݴږɝʃࠇ –2,248,941,692.88 400,000,000.001,897,800,233.232,035,131,099.49 –327,240,285.446,909,113,311.04 2,476,003,106.91––– 4,499,160,676.28315,644,037.60950,258,167.20583,123,607.72786,914,139.38 9,611,103,735.09-2,701,990,424.05 –58,854,693.11 43,877,593.482,842,141.18105,574,427.77 –4,376,472,945.35 –––5,207,408,247.63889,889,915.9510,473,771,108.93 340,561,399.392,373,000,000.004,591,805,624.81 826,850,479.80– 747,949,451.621,060,272,767.63 695,208,790.43900,263,888.5511,535,912,402.23-1,062,141,293.30 –74,850,323.19 –591,592.6075,441,915.79 –1,703,680,477.161,973,000,000.001,358,062,836.15 –4,665,762,485.54 169,731,992.979,870,237,791.82 167,724,502.36–– 5,082,571,990.27– 224,164,643.67515,699,389.36257,861,277.21976,845,378.627,224,867,181.492,645,370,610.33 83,000,000.0036,443,070.09 –501,430.63119,944,500.72 –52– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ධͦ 2016ϋܓ 2015ϋܓ 2014ϋܓ ҳ༟˕˹ٙତږᒅܔո֛༟ପeೌҖ༟ପձՉ˼ڗ ಂ༟ପ˕˹ٙତږ՟ɿʮ̡ʿՉ˼ᐄุఊЗ˕˹ٙ ତږଋᕘ˕˹Չ˼ၾҳ༟ݺਗϞᗫٙତږҳ༟ݺਗତ̈ݴږʃࠇҳ༟ݺਗପ͛ٙତݴږඎଋᕘɧeᘪ༟ݺਗପ͛ٙତݴږඎjіϗҳ༟ϗՑٙତږՉʕjɿʮ̡іϗˇᅰٰ؇ҳ༟ ϗՑٙତږ՟࠾ಛהϗՑٙତږ೯БවՎϗՑٙତږϗՑՉ˼ၾᘪ༟ݺਗϞᗫٙତږᘪ༟ݺਗତݴږɝʃࠇᎵᒔවਕ˕˹ٙତږʱৣٰлeлᆗאᎵ˹лٙ˹˕ࢹ ତږՉʕjɿʮ̡˕˹ഗˇᅰٰ؇ٙ ٰлeлᆗ˕˹Չ˼ၾᘪ༟ݺਗϞᗫٙତږᘪ༟ݺਗତ̈ݴږʃࠇᘪ༟ݺਗପ͛ٙତݴږඎଋᕘ̬eිଟᜊਗ࿁ତږʿତږഃᄆي ٙᅂᚤʞeତږʿତږഃᄆيଋᄣ̋ᕘ̋jಂڋତږʿତږഃᄆيቱᕘʬeಂ͋ତږʿତږഃᄆيቱᕘ 186,017,665.63 92,276,469.83 14,616,100.12– 292,910,235.58-187,335,807.81 2,906,257,373.49 236,445,631.07664,627,790.044,013,245,593.85 –7,584,130,757.385,107,230,000.00 1,559,835,777.36 15,837,669.90– 6,667,065,777.36917,064,980.02 -3,442,833.21-1,975,704,085.0517,163,076,303.9915,187,372,218.94 1,842,205,732.47 92,125,002.56 ––1,934,330,735.03-1,858,888,819.24 2,441,880,999.89 670,792,000.0051,818,408.7714,043,482,000.00 –16,537,181,408.666,579,480,000.00 1,238,940,284.38 ––7,818,420,284.388,718,761,124.28 62,062,152.535,859,793,164.2711,303,283,139.7217,163,076,303.99 383,510,055.57 51,703,903.63 ––435,213,959.20-315,269,458.48 1,259,448,654.27 ––6,333,280,000.00–7,592,728,654.274,200,000,000.00 52,770,120.89 –8,317,327.004,261,087,447.893,331,641,206.38 3,529,031.515,665,271,389.745,638,011,749.9811,303,283,139.72 –53– –54– 4eΥԻהϞ٫ᛆूᜊਗڌ(1)2016ϋܓΥԻᛆूᜊਗڌ ᓥ᙮͎ʮٰ̡؇ᛆू ධͦ ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ ɓeɪϋϋ͋ቱᕘ̋jึ݁ࠇഄᜊһۃಂࢨ፹һ͍Չ˼ɚe͉ϋϋڋቱᕘɧe͉ϋᄣಯᜊਗږᕘɓଋлᆗɚՉ˼ၝΥϗूɪࠑɓձɚʃࠇɧٰ؇ҳɝձಯˇ༟͉1eٰ؇ҳɝ༟͉2eٰ΅˕˹ࠇɝٰ؇ᛆूٙږᕘ3eၾˇᅰٰ؇ٙᛆूʹ4eՉ˼ 3,223,734,700.00––– 3,223,734,700.00700,000,000.00 –––700,000,000.00700,000,000.00––– 1,865,166,967.63––– 1,865,166,967.631,977,212,840.76 –––1,969,811,742.421,969,811,742.42––– –36,261,558.91604,796,786.78531,481,680.34503,392,139.691,396,746,640.39 – – – – – – – – – – – – – – – – – – –36,261,558.91604,796,786.78531,481,680.34503,392,139.691,396,746,640.39 –27,564,631.6492,217,295.8567,626,016.9561,478,197.23-505,563,132.51 – – – – –718,646,243.11 –27,564,631.64 – – – – –27,564,631.64 – – –718,646,243.11 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – ఊЗjʩ Չ˼
ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ –714,873,275.538,876,453,749.27 – – – – – – – – – –714,873,275.538,876,453,749.27 –249,779,234.222,670,315,084.14 –28,078,538.59746,724,781.70 –5,885,064.4033,449,696.04 –33,963,602.99780,174,477.74 –236,445,631.072,906,257,373.49 –236,445,631.072,906,257,373.49 – – – – – – – – – ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –55– ධͦ ̬лᆗʱৣ1e՟ޮቱʮጐ2e՟ɓছࠬᎈ௪3e՟ʹࠬᎈ௪ږ4e࿁ٰ؇ٙʱৣ5eՉ˼ʞٰ؇ᛆूʫഐᔷ1e༟͉ʮጐᔷᄣ༟͉2eޮቱʮጐᔷᄣ༟͉3eޮቱʮጐᏎᑦฦ4eՉ˼ʬਖ਼ධᎷ௪
1.͉ϋ՟
2.͉ϋԴ͜ɖՉ˼̬e͉ϋϋ͋ቱᕘ ᓥ᙮͎ʮٰ̡؇ᛆू ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ –––––––––––––––3,923,734,700.00 ––––––––––––––7,401,098.343,842,379,808.39 – –92,217,295.8567,626,016.9561,478,197.23-1,220,679,267.03 – –92,217,295.85 – –-92,217,295.85 – – –67,626,016.95 –-67,626,016.95 – – – –61,478,197.23-61,478,197.23 – – – – –-999,357,757.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –
-3,530,108.59 –63,826,190.55697,014,082.63599,107,697.29564,870,336.92891,183,507.88 Չ˼ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ –-15,837,669.90-1,015,195,426.90 – – – – – – – – – –-15,837,669.90-1,015,195,426.90 – – – – – – – – – – – – – – – – – – – – – – – – – – – –
-4,792,329.94-921,340.19 –964,652,509.7511,546,768,833.41 ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –56– (2)2015ϋܓΥԻᛆूᜊਗڌ ᓥ᙮͎ʮٰ̡؇ᛆू ධͦ ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ ɓeɪϋϋ͋ቱᕘ̋jึ݁ࠇഄᜊһۃಂࢨ፹һ͍Չ˼ɚe͉ϋϋڋቱᕘɧe͉ϋᄣಯᜊਗږᕘɓଋлᆗɚՉ˼ၝΥϗूɪࠑɓձɚʃࠇɧٰ؇ҳɝձಯˇ༟͉1eٰ؇ҳɝ༟͉2eٰ΅˕˹ࠇɝٰ؇ᛆूٙږᕘ3eၾˇᅰٰ؇ٙᛆूʹ4eՉ˼ 2,631,615,700.00––– 2,631,615,700.00592,119,000.00 –––592,119,000.00592,119,000.00––– 504,887,745.32––– 504,887,745.321,360,279,222.31 –––1,360,279,222.311,360,279,222.31––– –26,508,007.42399,282,433.40380,771,154.53366,382,570.771,477,258,852.53 – – – – – – – – – – – – – – – – – – –26,508,007.42399,282,433.40380,771,154.53366,382,570.771,477,258,852.53 –9,753,551.49205,514,353.38150,710,525.81137,009,568.92-80,512,212.14 – – – – –1,405,500,406.97 –9,753,551.49 – – – – –9,753,551.49 – – –1,405,500,406.97 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – ఊЗjʩ Չ˼
ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ –70,088,654.475,856,795,118.44 – – – – – – – – – –70,088,654.475,856,795,118.44 –644,784,621.063,019,658,630.83 –-3,119,840.981,402,380,565.99 –1,721,684.1511,475,235.64 –-1,398,156.831,413,855,801.63 –670,792,000.002,623,190,222.31 –670,792,000.002,623,190,222.31 – – – – – – – – – ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –57– ධͦ ̬лᆗʱৣ1e՟ޮቱʮጐ2e՟ɓছࠬᎈ௪3e՟ʹࠬᎈ௪ږ4e࿁ٰ؇ٙʱৣ5eՉ˼ʞٰ؇ᛆूʫഐᔷ1e༟͉ʮጐᔷᄣ༟͉2eޮቱʮጐᔷᄣ༟͉3eޮቱʮጐᏎᑦฦ4eՉ˼ʬਖ਼ධᎷ௪
1.͉ϋ՟
2.͉ϋԴ͜ɖՉ˼̬e͉ϋϋ͋ቱᕘ ᓥ᙮͎ʮٰ̡؇ᛆू ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ –––––––––––––––3,223,734,700.00 –––––––––––––––1,865,166,967.63 – –205,514,353.38150,710,525.81137,009,568.92-1,486,012,619.11 – –205,514,353.38 – –-205,514,353.38 – – –150,710,525.81 –-150,710,525.81 – – – –137,009,568.92-137,009,568.92 – – – – –-992,778,171.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –
36,261,558.91604,796,786.78531,481,680.34503,392,139.691,396,746,640.39 Չ˼ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ – –-992,778,171.00 – – – – – – – – – – –-992,778,171.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – –
-24,609,222.11-24,609,222.11 –714,873,275.538,876,453,749.27 ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –58– (3)2014ϋܓΥԻᛆूᜊਗڌ ᓥ᙮͎ʮٰ̡؇ᛆू ධͦ ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ ɓeɪϋϋ͋ቱᕘ̋jึ݁ࠇഄᜊһۃಂࢨ፹һ͍Չ˼ɚe͉ϋϋڋቱᕘɧe͉ϋᄣಯᜊਗږᕘɓଋлᆗɚՉ˼ၝΥϗूɪࠑɓձɚʃࠇɧٰ؇ҳɝձಯˇ༟͉1eٰ؇ҳɝ༟͉2eٰ΅˕˹ࠇɝٰ؇ᛆूٙږᕘ3eၾˇᅰٰ؇ٙᛆूʹ4eՉ˼ 2,033,515,700.00––– 2,033,515,700.00598,100,000.00 –––598,100,000.00598,100,000.00––– 239,091.05––– 239,091.05504,648,654.27 –––504,648,654.27504,648,654.27––– –-3,818,493.58314,844,251.79317,352,317.96310,090,449.691,119,117,840.01 – – – – – – – – – – – – – – – – – – –-3,818,493.58314,844,251.79317,352,317.96310,090,449.691,119,117,840.01 –30,326,501.0084,438,181.6163,418,836.5756,292,121.08358,141,012.52 – – – – –562,290,151.78 –30,326,501.00 – – – – –30,326,501.00 – – –562,290,151.78 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – ఊЗjʩ Չ˼
ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ –83,940,165.604,175,281,322.52 – – – – – – – – – –83,940,165.604,175,281,322.52 –-13,851,511.131,681,513,795.92 –-12,307,417.64549,982,734.14 – –30,326,501.00 –-12,307,417.64580,309,235.14 – –1,102,748,654.27 – –1,102,748,654.27 – – – – – – – – – ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –59– ධͦ ̬лᆗʱৣ1e՟ޮቱʮጐ2e՟ɓছࠬᎈ௪3e՟ʹࠬᎈ௪ږ4e࿁ٰ؇ٙʱৣ5eՉ˼ʞٰ؇ᛆूʫഐᔷ1e༟͉ʮጐᔷᄣ༟͉2eޮቱʮጐᔷᄣ༟͉3eޮቱʮጐᏎᑦฦ4eՉ˼ʬਖ਼ධᎷ௪
1.͉ϋ՟
2.͉ϋԴ͜ɖՉ˼̬e͉ϋϋ͋ቱᕘ ᓥ᙮͎ʮٰ̡؇ᛆू ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ –––––––––––––––2,631,615,700.00 –
ʮ̡Ꮭ2017ϋ5˜22˚ಂɓɪʹ11 ࣛ30ʱאၡᎇHٰᗳйٰ؇ึᙄഐҼַאಂܝ ˸༰ૉ٫މᑘБٙAٰᗳйٰ؇ึᙄאՉ Оᚃึd˸ԶAٰٰ؇ϽᅇʿҭࡘՉʕ̍ ܼܔᙄબ̈HٰΫᒅ˙ࣩબᛆʿܔᙄ೯Б
A ٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆʘᙄࣩ Aٰ̙ᔷ౬ʮ̡වՎ ܸ ͉ʮ̡Ꮭίʕྤʫ೯Бٙᐼᕘʔ൴ཀɛ͏࿆ 27ᄂʩў27ᄂʩ̙ٙ౬މอAٰ̙ٙᔷ౬ ʮ̡වՎ Aٰ̙ᔷ౬ʮ̡වՎܵϞɛܸ Aٰ̙ᔷ౬ʮ̡වՎܵϞɛ Aٰٰ؇ ܸ AٰܵϞɛ ϋ؇ٰܓɽึ ܸ ͉ʮ̡Ꮭ2017ϋ5˜22˚ಂɓɪʹ9ࣛ 30ʱίʕیئቍψ̹ਜڎႷ༩1ර ڎئႷึᙄʕː̜කʿᑘБٙϋ؇ٰܓɽึ אՉОᚃึd˸Զٰ؇ϽᅇʿҭࡘՉʕ̍ ܼܔᙄબ̈HٰΫᒅ˙ࣩબᛆʿܔᙄ೯Б
A ٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆʘᙄࣩ ʮ̡ ܸ ʔࣛࡌҷʘ͉ʮ̡ʮ̡ ԫึ ܸ ԫึ –1– ಲऎਿږ ಲऎਿږ၍ଣ ᗳйٰ؇ึᙄၡᑌᖩɛ͉ʮ̡אʮ̡ ᗫஹɛɻᗫஹʹᔷٰᄆࣸࣨːᗫஹɛɻʕᗇ္ึ ᙑc່ ܸ ಲऎପุҳ༟ਿږdɓ͟ʕ೯࢝ձҷࠧ։ ึࡰҭࡘணͭٙਿږd࿚Ї௰̙ܝБ˚ಂdಲ ऎਿږ၍ଣ˾ڌಲऎਿܵږϞ608,000,000ٰ
A ٰdу͉ʮ̡ߒ15.495%ٰᛆ ܸ ಲऎପุҳ༟ਿږ၍ଣϞࠢʮ̡dɓʕ ணͭٙϞࠢபʮ̡d࿚Ї௰̙ܝБ˚ಂd˾ ڌಲऎਿږኹϞ͉ʮ̡ߒ15.495%ٰᛆ ܸ Aٰᗳйٰ؇ึᙄʿHٰᗳйٰ؇ึᙄ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ ʕࡡ證Վٰ΅Ϟࠢʮ̡ί࠰ಥ˸ʕψ證Վ Τ່කุ࢝ਕdɓ2002ϋ11˜8˚ίʕ یئϓٰͭٙ΅Ϟࠢʮ̡dՉHٰʿAٰʱ йίᑌʹ˾΅ٰؐ˴הj01375ʿɪऎᗇ Վʹ˾΅ٰהj601375ɪ̹ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ Aٰ̙ᔷ౬ʮ̡වՎᔷ౬ܝਗ਼ʚ೯БʘอAٰ ᄆࣸd̙ঐਗ਼ʔࣛʚ˸ሜ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ ʕᗇՎ္ຖ၍ଣ։ึࡰ –
2– ɽئॷุ ԫHٰᗳйٰ؇ึᙄ Hٰٰ؇Hٰیئҳ༟ණྠಥʩ࠰ಥIT௰ྼܝყ̙Б˚ಂɪ̹ۆ ᙑc່ ܸ ɽئॷุ࠰ಥϞࠢʮ̡dɓ࠰ಥϓ ͭٙϞࠢʮ̡d௰ྼܝყ̙Б˚ಂܵϞ 37,807,000ٰHٰу͉ʮ̡ʊ೯Бٰ͉ߒ 0.964%d͵یئމҳ༟ණྠٙගટΌ༟ڝ᙮ ʮ̡ ܸ ͉ʮ̡ԫ ܸ ͉ʮ̡Ꮭ2017ϋ5˜22˚ಂɓɪʹ11 ࣛאၡᎇϋ؇ٰܓɽึഐҼַאಂ˸ܝ༰ૉ ٫މᑘБٙHٰᗳйٰ؇ึᙄאՉОᚃ ึd˸ԶHٰٰ؇ϽᅇʿҭࡘՉʕܼ̍ܔ ᙄબ̈HٰΫᒅ˙ࣩબᛆʿܔᙄ೯БAٰ̙ᔷ ౬ʮ̡වՎ˙ࣩʿतйબᛆʘᙄࣩ ܸ HٰܵϞɛ ܸ ͉ʮٰ̡͉ʕӊٰࠦ࠽ɛ͏࿆1.00ʩٙྤ̮ɪ ̹̮༟౷ஷٰd༈ഃٰ΅ѩίᑌʹؐ˴הɪ̹ Ԩʹ ܸ یئҳ༟ණྠϞࠢʮ̡dɓʕൗ̅ϓͭ ʘϞࠢபʮ̡d௰ྼܝყ̙Б˚ಂܵϞ 822,983,847ٰAٰу͉ʮ̡ߒ20.975%ٰᛆ ܸ ಥʩd࠰ಥ֛ج࿆ ܸ ʕ࠰ಥतйБ݁ਜ ܸ
informationtechnologyٙᐵᄳdу߅ࢹڦҦ ܸ 2017ϋ5˜2˚dу͉ஷՌ˹Ιۃᆽ֛Չʕה༱ ߰ʍ༟ࣘϾԊٙ௰ྼܝყ̙Б˚ಂ ܸ ᑌʹהᗇՎɪ̹ۆ –
3– ̀௪ૢಛอɧؐ ණႭࣣʕeᒅΫબᛆ ɛ͏࿆̮ිٰ҅΅ٰ؇ ᙑc່ ܸՑྤ̮ɪ̹ʮ̡̀௪ૢಛd͟ਕ৫ᗇՎ։ึࡰၾՓҷࠧ։ึࡰɓɘɘ̬ϋɞ˜ɚɤɖ˚೯б ܸΌʕʃΆٰุ΅ᔷᜫӻ୕ٙᔊ၈d݊ਕ৫ҭࡘணͭٙΌᗇՎʹఙהdΌʕʃΆٰุ΅ᔷᜫӻ୕Ϟࠢபʮ̡މՉ༶ᐄ၍ଣዚ ܸ Ϟᗫ͉ϣᏝ೯БAٰ̙ᔷ౬ʮ̡වՎٙණႭ ࣣ ܸ ʕശɛ͏ձఱ͉ஷՌϾԊd࠰ಥeዦژ तйБ݁ਜձ̨ᝄήਜৰ̮ ܸ ܙϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪяҭࡘᒅ ΫબᛆٙӔᙄࣩה༱ૢ༺ϓܝdਗ਼બʚԫ ึɓছબᛆd˸БԴ͉ʮ̡ᛆɢᒅΫࠦ࠽ᐼ ᕘʔ൴ཀϋ؇ٰܓɽึஷѓʿᗳйٰ؇ึᙄஷ ѓה༱ᗫӔᙄࣩᐏஷཀ˚ʊ೯БHٰᐼࠦ ࠽10%ʘHٰ ܸ ʕ
֛ٙج࿆Ñɛ͏࿆dՉਿ͉ఊЗމ ʩ ܸ ʕശɛ͏ձි̮၍ଣ҅אટՉᛆɢ ʘዚᗫ ܸ ͉ʮٰ̡͉ʕӊٰࠦ࠽ɛ͏࿆1.00ʩٙ౷ஷ ٰdܼ̍AٰʿHٰ ܸ ͉ʮٰ̡؇ –4– तйબᛆ ᑌʹהڝ᙮ʮ̡ϗᒅςۆ % ᙑc່ ܸ ᗫਗ਼ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪᄲᙄ ʿҭٙࡘ೯БAٰ̙ᔷ౬ʮ̡වՎٙतйબᛆ ܸ ࠰ಥᑌΥʹהϞࠢʮ̡ ܸ ՈϞɪ̹ۆረʚ༈൚ค່ٙ ܸ
࠰ಥʮ̡ϗᒅʿΥԻςۆdʔࣛࠈࡌe ̤̂אБࡌҷ ܸ ϵʱˢ –5– ԫึՌ CentralChinaSecuritiesCo.,Ltd. 2002ϋʕശɛ͏ձیئϓٰͭٙ΅Ϟࠢʮ̡dʕ˖ʮ̡Τ၈މʕࡡᗇՎٰ΅Ϟࠢʮ̡dί࠰ಥ˸ʕψᗇՎΤ່කุ࢝ਕ ٰ΅˾j01375 ੂБԫjളࠏ͛ԫڗմʃΌ͛ ੂڢБԫjҽጳԳ͛ˮͭอ͛ੵ੶͛ੵ३ᄁ͛ɲዣජ͛ ዹͭੂڢБԫj߹ᅃࠏ͛қਃ͛ྐྵږϓ͛ɲၫ͛ ʕൗ̅፬ԫஈjʕیئቍψ̹ቍ؇อਜਠਕ̮ᐑ༩10 ʕᐼŊ˴ࠅᐄุήᓃjʕیئቍψ̹ቍ؇อਜਠਕ̮ᐑ༩10 ࠰ಥ˴ࠅᐄุήᓃj࠰ಥᝄ˺ެΧɽ༸؇28ږᙒිʕː18ᅽ ห઼٫j ܔᙄબ̈HٰΫᒅ˙ࣩબᛆiʿܔᙄ೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆ ၫԊ ধ͉ࠑʮ̡2017ϋ4˜7˚೯бٙϋ؇ٰܓɽึձHٰᗳйٰ؇ึᙄٙஷѓ˸ʿᗫᏝ೯Бŭٰ̙ᔷ౬ʮ̡වՎٙʮѓf ͉ஷՌϙίΣcტɨԶɪࠑԫධٙ༉ઋf –6– ԫึՌ ܔᙄબ̈HٰΫᒅ˙ࣩબᛆ (I)ܔᙄબ̈ᒅΫબᛆ ᒅΫHٰʘɓছબᛆ ʕശɛ͏ձʮ̡جè௪ૢಛʿʮ̡֛ٙቇ͉͜ʮ̡הϞᗳйٰ΅ʘ߰ʍٰ΅ᒅΫࠢՓf ʕശɛ͏ձʮ̡͉جʮ̡աϤࠢՓ֛ʕൗ̅ϓͭʘٰ΅Ϟࠢʮ̡ʔᒅΫՉٰ΅dৰڢᒅΫ(a)ͦٙۂމಯՉൗ̅༟͉i(b)ఱʮ̡͉Ԓၾ̤ɓගܵϞՉٰ΅ʘዚΥԻϾආБi(c)ͦٙމΣ͉ʮ̡྇ࡰબʚٰ΅˸ЪᆤᎸiא(d)ɗᏐٰ؇ࠅӋආБdϾ༈ഃٰ؇ԨʔΝจϞᗫΥԻאʱ؇ٰٙװӔᙄࣩf̀௪ૢಛ͉ʮ̡ʊਗ਼ʘॶɝʮ̡֛dίᐏϞᗫʕ္၍ዚҭࡘd˸ʿ፭ʮ̡ʘઋرɨd͉ʮ̡̙ఱۂಯՉٰ͉eఱʮ̡͉Ԓၾ̤ɓගܵϞՉٰ΅ʘዚΥԻdאאܛجБ݁ԷʪʘઋرɨᒅΫՉʊ೯Бٰ΅f ɪ̹࢙ۆɓගʕٰ΅Ϟࠢʮ̡ʘٰ؇dΣ༈ഃᑌʹהɪ̹ʘʮ̡ʘԫึબʚɓছબᛆᒅΫٰ΅f༈ධબᛆ˸ٰ؇ɽึɪᐏՉٰ؇ஷཀӔᙄࣩҖόЪ̈dʿ˸ІᑘБʘึᙄɪᐏAٰʿྤ̮ɪ̹̮༟ٰܵϞɛஷཀӔᙄࣩҖόЪ̈f ͉ʮ̡Hٰɗᑌʹ˸הಥʩ൯ርfΪϤd͉ʮ̡ᒅΫHٰא҅ි̮ܙટՉᛆɢʘዚᗫҭ̙˙ܝࡘආБdϾ͉ʮ̡ආБОHٰᒅΫࣛ˹˕הʘᄆࣸਗ਼ึ˸ಥʩ˕˹f ࣬ኽʮ̡ʫቇ͜ۂಯٰ͉ʘ֛d͉ʮ̡ஷཀۂಯ͉ʮ̡ൗ̅༟͉ʘӔᙄࣩࣛٝึՉවᛆɛfϤ̮dʕശɛ͏ձʮ̡ج֛dʮ̡Ϊۂಯٰ͉ϾᒅΫٰٙ΅̀ൗቖdϾʮ̡ٙൗ̅༟͉ਗ਼ΪϤܲ༈ഃൗቖٰ΅ᐼࠦٙ࠽ഃږᕘආБۂಯfۂࡊಯൗ̅༟͉d͉ʮ̡ίஷཀҭࡘ༈ۂಯٙϞᗫӔᙄࣩࠈܝಂගʫ˸ࣣࠦஷٝʿʮѓٙ˙όஷٝՉවᛆɛfවᛆɛϞᛆࠅӋ͉ʮ̡Ꮅᒔ൲ಛʿŊאԶዄڭfϤ֛جஷٝࠅӋ̙ί͉ʮ̡ۂಯൗ̅༟͉ࣛഗʚවᛆɛϗΫʿŊא՟වਕዄٙڭዚึतй݊༈ഃೌץתවਕf –7– ԫึՌ ᒅΫHٰʘૢމəОቇ֝ᒅΫHٰࣛঐԶԫᜳݺdତܔᙄరӋٰ؇ҭࡘΣԫึબ ̈ᒅΫબᛆf࣬ኽʕശɛ͏ձʮ̡جè௪ૢಛʿʮ̡֛ٙd͉ʮ̡ც̜කϋ؇ٰܓɽึʿᗳйٰ؇ึᙄ˸՟ٰ؇ٙɪࠑҭࡘf༈ഃึᙄɪdਗ਼ึяɓධतйӔᙄࣩd˸ԶϞᗫٰ؇ϽᅇʿҭࡘᒅΫબᛆуɓධᑌʹהᒅΫʊ೯БHٰʘϞૢɓছબᛆdᒅΫHٰٰ΅ᐼࠦ࠽ਗ਼ʔ൴ཀஷཀ༈ධतйӔᙄࣩʘ˚ʊ೯БHٰᐼࠦ࠽ʘ10%f ᒅΫબᛆܙɨΐධૢ༺ϓܝd˙̙Ъྼj(a)ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪʱйஷཀतйӔᙄࣩҭࡘબ̈ᒅΫબᛆiʿ(b)͉ʮ̡ᐏ̮ි҅אટՉᛆɢʘዚᗫʿŊאʕܛجeۆʿԷ̙ঐ֛ʘОՉ˼္၍ژνቇٙ͜ҭࡘʿŊאΣՉజ௪f߰ࡊɪ͊ૢࠑঐ༺ϓdԫਗ਼ʔึБԴᒅΫબᛆf ᒅΫબᛆਗ਼ึɨΐ˚ಂʕʘ༰Ϙ˚ಂ֣တj(a)͉ʮ̡ɨ֣ϋ؇ٰܓɽึഐҼࣛiא(b)ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄஷཀϞᗫӔᙄࣩৎࠇɤɚ˜ࡈಂග֣တࣛiא(c)ٰ؇ٰ؇ɽึɪ˸तйӔᙄࣩdאHٰܵϞɛאAٰܵϞɛІʘᗳйٰ؇ึᙄɪ˸तйӔᙄࣩΫࡌאҷतйӔᙄࣩהረʚʘબᛆ˚f ࣬ኽᒅΫબᛆd͉ʮ̡̙ᒅΫٙHٰਗ਼ʔ̙൴ཀϋ؇ٰܓɽึʿᗳйٰ؇ึᙄఱҭࡘᒅΫબᛆϾяٙतйӔᙄࣩᐏஷཀ˚ٙʊ೯БHٰࠦ࠽ᐼᕘٙ10%f ༱ϞᗫᒅΫબᛆ߰ʍ༟ࣘٙႭՌ༱͉ஷՌڝɓfܔᙄ೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩʿतйબᛆ(II)ܔᙄʮක೯БAٰ̙ᔷ౬ʮ̡වՎૢ މආɓӉ̂ྼ༟͉ږdʺ͉ʮ̡ၝΥᘩྼنɢdᄣ੶ܵᚃ೯࢝ঐɢd͉ʮ̡Ꮭ೯БAٰ̙ᔷ౬ʮ̡වՎԨɪ̹ɪऎᗇՎʹהf –8– ԫึՌ Աኽʕശɛ͏ձʮ̡جeʕശɛ͏ձᗇՎجeɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جഃܛجeجʿᇍٙ˖ܛجϞᗫ֛dԫึ࿁ʮක೯БAٰ̙ᔷ౬ʮ̡වՎٙᗫ༟ࣸձૢࠅӋdႩॆධІݟdႩ͉މʮ̡ୌΥϞᗫ֛ձࠅӋdՈ௪ʮක೯БAٰ̙ᔷ౬ʮ̡වՎٙ༟ࣸձૢf ԫึʊ2017ϋ4˜6˚ҭࡘԨӔᙄሗٰ؇ʱйϋ؇ٰܓɽึʿᗳйٰ؇ɽึɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩҖόҭ͉ࡘʮ̡ୌΥ೯БAٰ̙ᔷ౬ʮ̡වՎૢf (III)ܔᙄʮක೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩ Աኽʕശɛ͏ձʮ̡جeʕശɛ͏ձᗇՎجeɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جഃܛجeجʿᇍٙ˖ܛجϞᗫ֛d͉ʮ̡Ꮭ֛ə͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Б˙ࣩf ԫึʊ2017ϋ4˜6˚ҭࡘᏝ೯БAٰ̙ᔷ౬ʮ̡වՎ˙ࣩdԨӔᙄሗٰ؇ʱйϋ؇ٰܓɽึʿᗳйٰ؇ɽึɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩҖόҭࡘf
(1)˴ૢࠅಛ ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯Б˙ࣩٙ˴ૢࠅಛνɨj 1e͉ϣ೯БᗇՎٙ၇ᗳ ͉ϣ೯БᗇՎٙ၇ᗳ̙މᔷ౬͉މʮ̡AٰٰୃٙAٰ̙ᔷ౬ʮ̡වՎf༈Aٰ̙ᔷ౬ʮ̡වՎʿ͊Ըᔷ౬͉ٙʮ̡Aٰٰୃਗ਼ίɪऎᗇՎʹהɪ̹f 2e೯Бᅼ ͉ϣᏝ೯БAٰ̙ᔷ౬ʮ̡වՎᐼᕘމʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩdՈ೯Бᅼሗϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆ͉ʮ̡ԫึאՉ˼બᛆɛɻίɪࠑᕘܓᇍఖʫᆽ֛f 3eୃࠦږᕘձ೯Бᄆࣸ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎӊੵࠦ࠽ɛ͏࿆100ʩdܲࠦ࠽೯Бf –9– ԫึՌ 4eවՎಂࠢ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎಂࠢމ೯Бʘ˚ৎʬϋf 5eවՎлଟ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٙୃࠦлଟٙᆽ֛˙όʿӊɓࢹࠇϋٙܓ௰лଟ˥̻dሗϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ݁ഄe̹ఙًرձ͉ʮ̡Ոઋرၾڭᑥዚ˴וቖਠਠᆽ֛f* ͉ϣAٰ̙ᔷ౬ʮ̡වՎί೯Бҁϓۃν༾ვБπಛлଟሜdۆϋٰܓ؇ɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻ࿁ୃࠦлଟЪᏐሜf 6e˹ٙࢹಂࠢձ˙ό ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎમ͜ӊϋ˹ࢹɓϣٙ˹˙ࢹόdՑಂᓥᒔהϞՑಂ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎ͉ږձ௰ܝɓϋлࢹf * ࣬ኽ
(1)ɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جୋɤʬૢj̙ᔷ౬ʮ̡වՎٙлଟ͟೯Бʮ̡ၾ˴וቖਠ ਠᆽ֛dШ̀ୌΥٙϞᗫ֛ʿ
(2)ᗫϞږፄΆุ೯Б̙ᔷ౬ʮ̡වՎϞᗫԫ֝ٙ ஷ̬ٝeϞږፄΆุ೯Б̙ᔷ౬ʮ̡වՎdᏐ̹ܲఙʷۆࡡdၝΥϽᅇვБ൲ಛлଟe ΝᗳවՎлଟ˸ʿɪ̹ʮ̡͊Ը೯౻ۃ࢝ഃΪ९dΥଣᆽ֛වՎлଟձᔷٰᄆ֛ࣸٙd͉ϣ೯ БٙAٰ̙ᔷ౬ʮ̡වՎٙୃࠦлଟٙᆽ֛˙όʿӊɓࢹࠇϋٙܓ௰лଟ˥̻d͟ϋ؇ٰܓɽึ ʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ݁ഄe̹ఙًرձ͉ʮ̡Ոઋر ၾڭᑥዚ˴וቖਠਠᆽ֛dਗ਼ʔึ࠽ࠋމfਿ̹ఙࣩԷʿତ̹ࣛఙઋرd͉ʮ̡ཫಂ
A ٰ̙ᔷ౬ʮ̡වՎٙ௰Эୃࠦлଟމ0.2%f –
10– ԫึՌ
(1)ϋлࠇࢹၑ ϋлܸࢹAٰ̙ᔷ౬ʮ̡වՎܵϞɛܲܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘІAٰ̙ᔷ౬ʮ̡වՎ೯Б˚ৎӊတɓϋ̙Ԯաٙಂлࢹfϋлࠇٙࢹၑʮόމj I=BÒi I:ܸϋлࢹᕘi Bjܸ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛίࢹࠇϋ˸ܓɨᔊ၈ϋאӊϋ˹ࢹ೮া˚ܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi ijܸAٰ̙ᔷ౬ʮ̡වՎϋୃࠦлଟf
(2)˹˙ࢹό (a)͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎમ͜ӊϋ˹ࢹɓϣٙ˹˙ࢹόdࢹࠇৎ˚މAٰ̙ᔷ౬ʮ̡වՎ೯Б˚f (b)˹˚ࢹjӊϋٙ˹͉މ˚ࢹϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ೯Б˚ৎӊတɓϋٙ˚dν༈˚˚ࢹ;א˚ື֛جމdۆනַЇɨɓʹࡈ˚dනַಂගʔ̤˹ࢹfӊቌٙՇ˚ࢹ˹ࡈʘගމɓࢹࠇࡈϋܓf (c)˹ࢹවᛆ೮া˚jӊϋٙ˹ࢹවᛆ೮া˚މӊϋ˹ۃٙ˚ࢹɓʹࡈ˚d͉ʮ̡ਗ਼ίӊϋ˹˚ࢹʘٙܝʞʹࡈ˚ʫ˕˹ϋлࢹfί˹ࢹවᛆ೮া˚ࢹ˹ܼ̍ۃවᛆ೮া˚͡ሗᔷ౬ϓ͉ʮ̡AٰٰୃٙAٰ̙ᔷ౬ʮ̡වՎd͉ʮ̡ʔΎΣՉܵϞɛ˕˹͉ࢹࠇϋ˸ܓʿࢹࠇܝϋٙܓлࢹf (d)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛהᐏлࢹϗɝٙᏐ˹ධܵ͟Ϟɛוዄf –11– ԫึՌ 7eᔷٰಂࠢ ͉ϣAٰ̙ᔷ౬ʮ̡වՎᔷٰಂІAٰ̙ᔷ౬ʮ̡වՎ೯БഐҼʘ˚တʬࡈ˜ٙܝୋɓʹࡈ˚ৎЇAٰ̙ᔷ౬ʮ̡වՎՑಂʘ˚˟f 8eᔷٰᄆࣸٙᆽ֛ʿՉሜ
(1)ڋᔷٰᄆࣸٙᆽ֛Աኽ ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎٙڋᔷٰᄆࣸʔЭණႭࣣʮѓʘ˚ۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆ߰ί༈ɧɤʹࡈ˚ʫ೯͛ཀৰᛆeৰˏࢹৎٰᄆሜٙઋҖdۆ࿁ሜʹۃ˚ٙϗᆵᄆܲཀᏐৰᛆeৰࢹሜٙܝᄆࣸࠇၑeۃɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆ߰ί༈ɚɤʹࡈ˚ʫ೯͛ཀৰᛆeৰˏࢹৎٰᄆሜٙઋҖdۆ࿁ሜʹۃ˚ٙϗᆵᄆܲཀᏐৰᛆeৰࢹሜٙܝᄆࣸࠇၑeۃɓࡈʹ˚͉ʮ̡Aٰٰୃʹѩᄆe௰ڐɓಂᄲٙࠇӊٰଋ༟ପձٰୃࠦ࠽ʕٙ௰৷٫dՈڋᔷٰᄆࣸሗϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆ͉ʮ̡ԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙًرၾڭᑥዚ˴וቖਠਠᆽ֛f* * ࣬ኽj
(1)ɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جୋɚɤɚૢjᔷٰᄆࣸᏐʔЭණႭࣣʮѓ˚ۃɚ ɤʹࡈ˚༈ʮٰ̡ୃʹѩᄆձۃɓʹ˚ٙѩᄆiʿ
(2)ᗫϞږፄΆุ೯Б̙ᔷ౬ʮ̡ වՎϞᗫԫ֝ٙஷٝʞe̙ᔷ౬ʮ̡වՎᔷٰᄆࣸᏐʔЭවՎණႭࣣʮѓ˚ۃ1ʹࡈ ˚eۃ20ʹࡈ˚eۃ30ʹࡈ˚༈ʮٰ̡ୃѩᄆʕٙ௰৷٫֛ٙd͉ϣ೯БAٰ̙ᔷ౬ʮ̡ වՎٙڋᔷٰᄆࣸʔЭණႭࣣʮѓ˚ۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆeۃɚɤࡈ ʹ˚͉ʮ̡Aٰٰୃʹѩᄆձۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆʕٙ௰৷٫f Νࣛd࣬ኽʕശɛ͏ձʮ̡جձϞ༟ପ၍ଣٙᗫ֛d͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎ
ٙᔷٰᄆࣸਗ਼ʔЭӊٰٰ΅ٙࠦ࠽уɛ͏࿆1ʩձ௰ڐɓಂᄲٙࠇӊٰଋ༟ପуɛ͏࿆2.70ʩٙੑ৷࠽f –12– ԫึՌ ۃɧɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆഃۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹᐼᕘৰ˸༈ɧɤʹࡈ˚͉ʮ̡Aٰٰୃٙʹᐼඎiۃɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆഃۃɚɤʹࡈ˚ʮٰ̡ୃʹᐼᕘৰ˸༈ɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹᐼඎiۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆഃۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹᐼᕘৰ˸༈˚͉ʮ̡Aٰٰୃʹᐼඎf
(2)ᔷٰᄆࣸٙሜ˙όʿࠇၑʮό ͉ϣ೯Бʘܝd͉ʮ̡೯͛ݼٰୃٰлeᔷᄣٰ͉eᄣ೯อٰאৣٰeݼତٰږлഃઋرʔܼ̍Ϊ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎᔷٰϾᄣٰ͉̋ٙࣛd͉ʮ̡ਗ਼ܲɨࠑʮόආБᔷٰᄆࣸሜሜڭ࠽वʃᅰᓃܝՇЗd௰ܝɓЗྼБ̬વʞɝj ݼٰୃٰлאᔷᄣٰ͉jP1=P0/(1+n)iᄣ೯อٰٰৣאjP1=(P0+AÒk)/(1+k)iɪࠑՇධΝࣛආБjP1=(P0+AÒk)/(1+n+k)iݼତٰږлjP1=P0-DiɪࠑɧධΝࣛආБjP1=(P0-D+AÒk)/(1+n+k)fՉʕjP0މሜۃᔷٰᄆdƔݼމٰୃٰлאᄣٰ͉ଟdƑމᄣ೯อٰٰৣאଟdŭމᄣ೯อٰᄆٰৣאᄆdŰމӊٰݼତٰږлdP1މሜܝᔷٰᄆf͉ʮ̡̈ତɪ΅ٰࠑձŊ؇ٰאᛆूᜊʷࣛdਗ਼ԱϣආБᔷٰᄆࣸሜdԨίʕᗇ္ึܸ֛ٙɪ̹ʮ̡מࢹڦᚣదɪ̊೮ʮѓdԨʮѓʕ༱ᔷٰᄆࣸሜ˚eሜ፬جʿᅲ৾ᔷٰࣛಂνცiԨ࣬ኽɪ –13– ԫึՌ ̹ۆഃجܛجʿԷί࠰ಥ̹ఙʚ˸ʮбνცfᔷٰᄆࣸሜ˚͉މϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰ͡ሗ˚אʘܝdᔷ౬ٰ΅೮া˚ʘۃdۆ༈ܵϞɛٙᔷٰ͡ሗܲʮ̡ሜٙܝᔷٰᄆࣸੂБf ͉ʮ̡̙ঐ೯ٰ͛΅ΫᒅeΥԻeʱͭאОՉ˼ઋҖԴ͉ʮٰ̡΅ᗳйeᅰඎձŊ؇ٰאᛆू೯͛ᜊʷϾ̙ঐᅂᚤ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛٙවᛆлूאᔷٰ͛ࠃᛆूࣛd͉ʮ̡ਗ਼ൖՈઋܲرʮ̻eʮ͍eʮʪٙ˸ۆࡡʿ̂ʱڭᚐ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛᛆूٙۆࡡሜᔷٰᄆࣸfϞᗫᔷٰᄆࣸሜʫ࢙ʿЪ፬جਗ਼Աኽ֣ࣛʕϞᗫجܛجʿᗇՎ္၍ٙژᗫ֛Փࠈf 9eᔷٰᄆࣸΣɨૢ͍ࡌಛ
(1)͍ࡌᛆࠢၾ͍ࡌషܓ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎπᚃಂගd͉ʮ̡Aٰٰୃίจஹᚃɧɤʹࡈ˚ʕϞɤʞʹࡈ˚ٙϗᆵᄆЭಂᔷٰᄆࣸٙ90%ࣛd͉ʮ̡ԫึϞᛆ̈ᔷٰᄆࣸΣɨࣩ˙͍ࡌԨʹ͉ʮٰ̡؇ɽึʿᗳйٰ؇ึᙄᄲᙄڌӔfɪࣩ˙ࠑ̈ึࢩᙄٰٙ؇ڌܵהӔᛆٙɧʱʘɚ˸ɪஷཀ˙̙ྼ݄fٰ؇ɽึʿᗳйٰ؇ึᙄආБڌӔࣛdܵϞ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٰٙ؇ᏐΫᒒfٙܝ͍ࡌᔷٰᄆࣸᏐʔЭ؇ٰٙࠑۃɽึʿᗳйٰ؇ึᙄ̜ක˚ۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆeۃɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆձۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆʕٙ௰৷٫f ߰ίࠑۃɧɤʹࡈ˚ʫ೯͛ཀᔷٰᄆࣸሜٙઋҖdۆίᔷٰᄆࣸሜ˚ʹٙۃ˚ܲሜٙۃᔷٰᄆࣸձϗᆵᄆࠇၑdίᔷٰᄆࣸሜ˚ʿʘʹٙܝ˚ܲሜٙܝᔷٰᄆࣸձϗᆵᄆࠇၑf –14– ԫึՌ
(2)͍ࡌҏν͉ʮ̡Ӕ֛Σɨ͍ࡌᔷٰᄆࣸd͉ʮ̡ਗ਼ίʕᗇ္ึܸ֛ٙɪ̹ ʮ̡מࢹڦᚣదɪ̊೮ᗫʮѓdʮѓ͍ࡌషܓeٰᛆ೮া˚ձᅲ৾ᔷٰಂගഃϞᗫࢹڦνცiԨ࣬ኽɪ̹ۆഃجܛجʿԷί࠰ಥ̹ఙʚ˸ʮбνცfٰᛆ೮া˚ٙܝୋɓʹࡈ˚уᔷٰᄆࣸ˚͍ࡌৎdකܨూᔷٰ͡ሗԨੂБٙܝ͍ࡌᔷٰᄆࣸf ߰ᔷٰᄆࣸމ˚͍ࡌᔷٰ͡ሗ˚אʘܝdᔷ౬ٰ΅೮া˚ʘۃd༈ᗳᔷٰ͡ሗᏐܲٙܝ͍ࡌᔷٰᄆࣸੂБf10eᔷٰᅰඎٙᆽ֛˙ό˸ʿᔷٰࣛʔԑɓٰږᕘٙஈଣ፬ج͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛίᔷٰಂʫ͡ሗᔷٰࣛdᔷٰᅰඎٙࠇၑ˙όމjQ=V/PdԨ˸̘҈ج՟ɓٰٙᅰ࠴fՉʕjQ̙މᔷ౬ٰٙୃᅰඎiVމAٰ̙ᔷ౬ʮ̡වՎܵϞɛ͡ሗᔷٰٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘiP͡މሗᔷٰ˚Ϟࣖٙᔷٰᄆࣸfᔷٰࣛʔԑᔷ౬މɓٰٙAٰ̙ᔷ౬ʮ̡වՎቱᕘd͉ʮ̡ਗ਼ܲɪऎᗇՎʹהഃٙژϞᗫ֛dίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰ˚ٙܝʞʹࡈ˚ʫ˸ତږг˹༈Aٰ̙ᔷ౬ʮ̡වՎቱᕘʿ༈ቱᕘה࿁ᏐٙಂᏐࠇлࢹf –15– ԫึՌ 11eᛙΫૢಛ
(1)ՑಂᛙΫૢಛ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎಂတܝʞʹࡈ˚ʫd͉ʮ̡ਗ਼ᛙΫΌ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎdՈᛙΫᄆࣸ͟ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻ࣬ኽ೯Б̹ࣛఙઋرၾڭᑥዚ˴וቖਠਠᆽ֛f
(2)ϞૢᛙΫૢಛ ί͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎٙᔷٰಂʫdν͉؈ʮ̡Aٰٰୃஹᚃɧɤʹࡈ˚ʕЇˇϞɤʞʹࡈ˚ٙϗᆵᄆࣸʔЭಂᔷٰᄆࣸٙ130%ў130%*d͉אϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ͊ᔷٰቱᕘʔԑɛ͏࿆3,000ຬʩࣛd͉ʮ̡ϞᛆܲවՎࠦ̋࠽ಂᏐࠇлٙࢹᄆࣸᛙΫΌאʱ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎf ಂᏐࠇлࠇٙࢹၑʮόމjIAØBÒiÒt/365 IAjܸಂᏐࠇлࢹi Bjܸ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi ijܸAٰ̙ᔷ౬ʮ̡වՎϋୃࠦлଟi tjܸ˂ࢹࠇᅰdуɪɓ˚ࢹ˹ࡈৎЇ͉ࢹࠇϋܓᛙΫ˚˟ٙྼყ˚˂ᅰၑ᎘ʔၑ҈f ߰ίࠑۃɧɤʹࡈ˚ʫ೯͛ཀᔷٰᄆࣸሜٙઋҖdۆίᔷٰᄆࣸሜ˚ʹٙۃ˚ܲሜٙۃᔷٰᄆࣸձϗᆵᄆࠇၑdίᔷٰᄆࣸሜ˚ʿʘʹٙܝ˚ܲሜٙܝᔷٰᄆࣸձϗᆵᄆࠇၑf * મ͜130%ʘˢଟ݊࣬ኽ̹ఙஷБਂجԨഐΥܔᙄ೯БAٰ̙ᔷ౬ʮ̡වՎٙྼყઋرϾᆽ֛f –16– ԫึՌ 12eΫਯૢಛ ͉߰ϣ೯БAٰ̙ᔷ౬ʮ̡වՎණ༟ږ༶ٙ͜ྼ݄ઋرၾ͉ʮ̡ίණႭࣣʕٙוፕˢ̈ତᜊʷd˲༈ᜊʷʕᗇ္ึႩ֛މҷᜊණ༟͜ږٙdAٰ̙ᔷ౬ʮ̡වՎܵϞɛԮϞɓϣ˸ࠦ̋࠽ɪಂᏐࠇлٙࢹᄆࣸΣ͉ʮ̡ΫਯՉܵϞٙΌאʱAٰ̙ᔷ౬ʮ̡වՎٙᛆлfίɪࠑઋҖɨdAٰ̙ᔷ౬ʮ̡වՎܵϞɛ̙˸ίΫਯ͡జಂ*ʫආБΫਯdίΫਯ͡జಂ*ʫʔྼ݄ΫਯٙdІਗఄ̰༈Ϋਯᛆf 13eᔷٰϋܓϞᗫٰлٙᓥ᙮ Ϊ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎᔷٰϾᄣ͉̋ٙʮ̡AٰٰୃԮϞၾࡡAٰٰୃΝഃٙᛆूdίٰл೯ٰٙ׳ᛆ೮া˚˚೮াί̅ٙהϞ౷ஷٰٰ؇ўΪAٰ̙ᔷ౬ʮ̡වՎᔷٰҖϓٰٙ؇ѩਞၾಂٰлʱৣdԮϞΝഃᛆूf 14e೯Б˙όʿ೯Б࿁ ͉ϣAٰ̙ᔷ౬ʮ̡වՎٙՈ೯Б˙ό͟ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻၾڭᑥዚ˴וቖਠᆽ֛f͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Б࿁ܵމϞʕᗇՎ೮াഐၑϞࠢபʮ̡ɪऎʱʮ̡ᗇՎሪ˒ٙІ್ɛeجɛeᗇՎҳ༟ਿږeୌΥܛج֛ٙՉ˼ҳ༟٫ഃܛجeجຫ˟٫ৰ̮f * ࣬ኽɪऎᗇՎʹୃٰהɪ̹ۆ11.8.7ᜊһ̙ᔷ౬ʮ̡වՎණ༟ږҳ༟ධͦٙdɪ̹ʮ̡ Ꮠίٰ؇ɽึஷཀӔᙄܝɚɤʹࡈ˚ʫረʚ̙ᔷ౬ʮ̡වՎܵϞɛɓϣΫਯٙᛆлdϞᗫΫਯ ʮѓЇˇ೯бɧϣfՉʕdίΫਯྼ݄ۃeٰ؇ɽึӔᙄʮѓܝʞʹࡈ˚ʫЇˇ೯бɓϣdίΫ ਯྼ݄ಂගЇˇ೯бɓϣdቱɨɓϣΫਯʮѓٙ೯бࣛගൖცࠅϾ֛֛ٙdᙃ೯Aٰ̙ᔷ౬ʮ ̡වՎΫਯૢಛࣛd͉ʮ̡ਗ਼֣ܲࣛܛجeجאᗫ֛ٙࠅӋdʿࣛΣɪऎᗇՎʹה ʹԨ೯бAٰ̙ᔷ౬ʮ̡වՎΫਯʮѓձᗫͪʮѓdՈΣҳ༟٫ႭΫਯҏeΫਯᄆ ࣸe˹ಛ˙جe˹ಛࣛගഃʫ࢙fઓ̹ܲͦٙۃఙ࿕ԷdɓছΫਯ͡జಂࠢІٰ؇ɽึӔᙄҭࡘ ᜊһණ༟͜ږʘ˚ৎ5˂කdၪܵ5˂f –
17– ԫึՌ 15eΣࡡAٰٰ؇ৣਯٙτર ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎഗʚࡡAٰٰ؇ᎴৣਯᛆfՈᎴৣਯᅰඎሗٰ؇ɽึʿᗳйٰ؇ึᙄબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙઋرᆽ֛dԨί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٙණႭࣣʕʚ˸מᚣf༈ഃᎴৣਯਗ਼፭ςʕശɛ͏ձᗇՎجʿɪ̹ܼ̍ۆШʔࠢɪ̹ۆୋ14AධɨϞᗫᗫஹʹ֛ٙʿࠅӋאОՉ̴္ִ݁א၍ዚٙהϞቇ͜ܛجeجʿԷd˙̙ໝྼf ߰ࡊAٰ̙ᔷ౬ʮ̡වՎ͟ᗫஹɛɻආБႩᒅԨ͟༈ഃᗫஹɛɻၾ͉ʮ̡ᖦࠈႩᒅᙄࣛdᗫஹɛɻႩᒅAٰ̙ᔷ౬ʮ̡වՎਗ਼ϓ͉ʮ̡ɪ̹ۆୋ14Aධɨٙᗫஹʹf͉ʮ̡֣ࣛਗ਼፭ςɪ̹ۆୋ14Aධɨ֛ٙdܼ̍೯бʮѓʿஷՌd˸ʿ՟ዹٰͭ؇ҭࡘf ٜЇ௰̙ܝБ˚ಂdఱԫٝהeהʿڦהdʿЪ̈ɓʲΥଣݟ༔ܝd͉ʮ̡ʘᗫஹɛɻ฿ೌจᗴႩᒅAٰ̙ᔷ౬ʮ̡වՎf 16eAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄᗫԫධ
(1)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛٙᛆлၾ່ਕ (a)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛٙᛆл (i)ԱՉܵהϞAٰ̙ᔷ౬ʮ̡වՎᅰᕘԮϞ֛ߒлࢹi (ii)࣬ኽૢ֛ߒਗ਼ܵהϞٙAٰ̙ᔷ౬ʮ̡වՎᔷ͉މʮ̡Aٰٰ΅i (iii)࣬ኽૢ֛ٙߒБԴΫਯᛆi (iv)ԱܛجeБ݁جʿʮ̡֛ٙᔷᜫeᗍၾאሯץՉܵהϞٙAٰ̙ᔷ౬ʮ̡වՎi (v)Աܛجeʮ̡֛ٙᐏϞᗫࢹڦi –18– ԫึՌ (vi)֛ܲٙߒಂࠢձ˙όࠅӋ͉ʮ̡Ꮅ˹Aٰ̙ᔷ౬ʮ̡වՎ͉ࢹi (vii)ԱܛجeБ݁جഃᗫ֛ਞၾא։ৄ˾ଣɛਞၾAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄԨБԴڌӔᛆi (viii)ܛجeБ݁جʿʮ̡הረʚٙՉЪ͉މʮ̡වᛆɛٙՉ˼ᛆлf (b)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛ່ٙਕ(i)፭ς͉ʮ̡೯БAٰ̙ᔷ౬ʮ̡වՎૢಛٙᗫ֛i(ii)ԱՉהႩᒅٙAٰ̙ᔷ౬ʮ̡වՎᅰᕘᖮॶႩᒅ༟ږi(iii)፭ςAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄБٙϞࣖӔᙄi(iv)ৰܛجeج֛ʿAٰ̙ᔷ౬ʮ̡වՎණႭࣣ֛ߒ̮dʔࠅӋ͉ʮ̡ۃᎵ˹Aٰ̙ᔷ౬ʮ̡වՎ͉ٙږձлࢹi(v)ܛجeБ݁جʿʮ̡֛Ꮠ͟Aٰ̙ᔷ౬ʮ̡වՎܵϞɛוዄٙՉ˼່ਕf
(2)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄ̜ٙකઋҖί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎπᚃಂʫd೯͛ɨΐઋҖʘɓٙd ͉ʮ̡ԫึᏐ̜ණAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄj(i)͉ʮ̡ᏝᜊһණႭࣣ֛ٙߒi(ii)͉ʮ̡͊ঐܲಂ˕˹͉ϣAٰ̙ᔷ౬ʮ̡වՎ͉ࢹi –19– ԫึՌ (iii)͉ʮ̡ಯ༟eΥԻeʱͭe༆א٫͡ሗॎପi(iv)೯͛Չ˼࿁වՎܵϞɛᛆूϞࠠɽྼሯᅂᚤٙԫධfʮ̡ਗ਼ίණႭࣣʕڭ֛ߒᚐAٰ̙ᔷ౬ʮ̡වՎܵϞɛᛆлٙ፬جd˸ʿAٰ̙ᔷ౬ʮ̡වՎܵϞɛึᙄٙᛆлeόձӔᙄ͛ࣖૢf17eණ༟͜ږ͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࠇණ༟ږᐼᕘʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩdϔৰ೯Б൬͜ܝᏝΌ̂͜ʮ̡ᐄ༶༟ږdίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰܝᄣ̋ʮ̡༟͉ږd˸˕ܵ͊Ըุਕ೯࢝dʺʮ̡̹ٙఙᘩنɢձҤࠬᎈঐɢdڮආʮ̡ଫ೯ͦ࢝ᅺٙྼତfՈ͜νɨjɓᏝԴ͜ʔ൴ཀɛ͏࿆17ᄂʩ͜༟͉ʕʧุਕፄ༟ፄՎe֛ߒᒅΫόᗇՎʹeٰୃሯץόΫᒅʹഃ༟͉ʕʧุਕʔස̙˸މᗇՎʮ̡੭Ըᖢ֛ٙлࢹϗɝdᒔ̙˸̈͛ࠃุߏਕʿՉ˼ପۜ௴อዚึdʊϓމᗇՎʮ̡ٙࠠࠅϗɝձлᆗԸ๕f༟͉ʕʧุਕᅼٙᓒੵცࠅᗇՎʮ̡ܵᚃή̋ɽ༟ৣږໄfʮ̡Ꮭ༶͜ණ༟ږҳɝ༟͉ʕʧุਕdආɓӉᎴʷʮ̡ϗɝഐdᄣ੶ʮ̡ޮлঐɢfɚᏝԴ͜ʔ൴ཀɛ͏࿆8ᄂʩ͜ҳ༟ձਂุ̹ਕʮ̡ਗ਼ίණ༟ږՑЗܝdίᄲฐЪձࠬᎈ̙છٙۃɨd࣬ኽ̹ఙᜊʷઋرdቇࣛԴ͜ණ༟ږҳɝІᐄุਕd࢝ןอٙҳ༟ۜ၇dක࢝ඎʷʹձۜ͛ࠃҳ༟dҷഛІᐄҳ༟ഐdʺҳ༟ϗूfණ༟ږՑЗܝdʮ̡ਗ਼ൖุਕ೯ྼٙ࢝ყცࠅ࿁ʕψყږፄછٰϞࠢʮ̡ձʕψᔝऎҳ༟၍ଣϞࠢʮ̡ഃɿʮ̡ආБҳ༟d˸̂ɿʮ̡ –20– ԫึՌ ٙ༟͉ږձᐄ༶༟ږdᄣ੶ɿʮ̡ٙᘩنɢၾࠬᎈתҤঐɢd೯ุ̮ྤ࢝ਕձ̤ᗳҳ༟ഃุਕf ණ༟ږՑЗܝdʮ̡ਂุ̹ਕਗ਼ஷཀҳɝ༟ږeၚ፯ձᄣ̋ʮ̡וਂٙอɧؐਂ̹ධͦഃ˙όd̋Ҟ೯࢝ӉͽdԨҖϓၾՉ˼ุਕ೯ٙ࢝ΝࣖᏐf ɧᏝԴ͜ʔ൴ཀɛ͏࿆1ᄂʩ͜ᗇՎߏeҳ༟ვБุਕձࢹڦӻ୕ܔண ʮ̡ࠇྌ˸ණ༟ږҳɝᐄุၣᓃܔணၾб҅Ꮄʷd፯ʫ̮ࠠᓃਜਹᄣணᐄุၣᓃतй݊ჀۨᐄุၣᓃdԨᎴʷତϞၣᓃd࿁ʱб҅ʔΥଣٙၣᓃҁϓቋѧאҷிfΝࣛdʮ̡ਗ਼Ꮄʷุߏਕɛࡰഐe੶ʷਖ਼ุଣৌඟͼܔணdଉʷุߏਕஷ༸όਕΣৌబ၍ଣᄣ࠽ਕᔷۨdʺৌబ၍ଣਕঐɢfϤ̮dᖢӉ৷ዚቖਯձҳ༟Ӻุਕٙਕঐɢf ͉ϣණ༟ږՑЗdਗ਼Ϟлʮ̡וટһεٰٙᛆፄ༟ձවᛆፄ༟ධͦdᄣ੶ҳ༟ვБוቖঐɢfΝࣛʮ̡ਗ਼̋ɽҳ༟ვБุਕྠඟܔணɢܓdѯɽҳ༟ვБඟͼdᄣ̋ҳɝdΌࠦ৷ᗇՎڭᑥוቖձৌਕᚥਪਕঐɢf ʮ̡ਗ਼˸ණ༟ږҁഛIT༶ᐄ၍ଣӻձIT௪΅ঐɢd੶ʷᅰኽࢫᏐ͜ӻ୕dҷഛITਿᓾண݄dᄣ̋อุਕࢹڦӻ୕ܔணҳɝd˸ආɓӉʺ࿁ุਕ೯˕ٙ࢝ᅟձਕঐɢf ̬ᏝԴ͜ʔ൴ཀɛ͏࿆1ᄂʩ͜༟ପ၍ଣุਕ ʮ̡ਗ਼ίණ༟ږՑЗܝd̋ɽίҳ༟Ӻձ̹ఙᐄቖഃ˙ࠦٙ༟๕ৣໄdዓͭІԒۜdጐකןፄ༟༟ପ၍ଣุਕձ༟ପᗇՎʷุਕdආɓӉ೯࢝༟ପ၍ଣุਕf –21– ԫึՌ 18eٰᛆഐᜊһ Aٰ̙ᔷ౬ʮ̡වՎᔷٰܝd͉ʮ̡Aٰʘᅰͦਗ਼ᄣ̋fତϞٰ؇͉ʮ̡ʘᛆूਗ਼͟Aٰ̙ᔷ౬ʮ̡වՎᔷ౬ᛆлٙБԴϾᛅᑛf͉ʮ̡Aٰٰ΅ٙྼყᄣ̋ᕘਗ਼ൖAٰ̙ᔷ౬ʮ̡වՎٙ௰ૢಛᆽ֛dՉʕܼ̍Aٰ̙ᔷ౬ʮ̡වՎ೯Бᅼeᔷٰᄆࣸഃf މၑ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎΌᔷٰ࿁͉ʮٰ̡ᛆഐٙᅂᚤd͉ʮ̡Ъνɨணj 1eண͉ϣ೯Бණ༟ږᐼᕘɛ͏࿆270,000.00ຬʩdʔϽᅇ೯Б൬͜ഃᅂᚤf͉ϣ೯БྼყՑሪٙණ༟ږᅼਗ਼࣬ኽ္၍ࡘࣨژe೯БႩᒅઋ˸رʿ೯Б൬͜ഃઋر௰ᆽ֛i 2eண͉ϣ೯Б2017ϋ12˜ྼ݄ҁଭd˲הϞAٰ̙ᔷ౬ʮ̡වܵϞɛ2018ϋ6˜ҁϓᔷٰfᗫҁϓࣛගසމʮ̡Пࠇd௰˸ʕᗇ္ึࣨྼܝࡘყ೯БҁϓࣛගʿAٰ̙ᔷ౬ʮ̡වՎܵϞɛҁϓᔷٰٙྼყࣛගމi 3e͉ʮ̡2016ϋ̒ϋܓлᆗʱৣʊྼ݄ҁଭd2016ϋܓлᆗʱৣཫࣩ֠ცϋ؇ٰܓɽึᄲᙄஷཀdணʮ̡2017ϋܓତږʱږߎᕘၾ2016ϋΌϋΝdΥݼࠇ೯ତߎږлɛ͏࿆797,145,368.70ʩi 4eண͉ϣ೯Бٙᔷٰᄆࣸމʮ̡ୋʞ֣ԫึୋɧɤɚϣ̜ක˚у2017ϋ4˜6˚ٙۃɧɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆeۃɚɤʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆeۃɓʹࡈ˚͉ʮ̡Aٰٰୃʹѩᄆʘʕٙ௰৷٫dуɛ͏࿆12.04ʩŊٰf͉ʮ̡2016ϋܓձ2017ϋܓлᆗʱৣ˙ࣩྼ݄ܝdணᔷٰᄆࣸሜίᔷ౬ٰ΅೮া˚ʘۃҁϓdሜܝᔷٰᄆࣸމɛ͏࿆11.71ʩŊٰf༈ᔷٰᄆࣸස͜ࠇၑ͉ϣ೯Б࿁͉ʮٰ̡ᛆഐٙᅂᚤd௰ٙڋᔷٰᄆࣸ͟ԫึ࣬ኽϋ؇ٰܓɽึʿᗳйٰ؇ɽึબᛆdί೯Б࣬ۃኽ̹ఙًرᆽ֛dԨ̙ঐආБৰᛆeৰࢹሜאΣɨ͍ࡌiʿ –22– ԫึՌ 5eணৰ͉ϣ೯Б̮dᅲʔϽᅇՉ˼ึ࿁͉ʮ̡ᐼٰ͉೯͛ᅂᚤאᆑίᅂᚤٙБܼ̍މԫึ࣬ኽᒅΫબᛆνʱйᐏٰ؇ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄ˸तйӔᙄࣩஷཀБԴ͉ʮ̡ᛆɢᒅΫᗫӔᙄࣩஷཀ˚ʊ೯БHٰᐼࠦ࠽10%ʘHٰf ਿ˸ɪணd̙ᔷٰٙAٰ௰ɽᅰඎਗ਼މ230,572,160ٰAٰf͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎΌᔷٰܝd͉ʮ̡ᐼٰ͉ਗ਼͟3,923,734,700ٰᜊһމ4,154,306,860ٰf ᘱᚃண͉ϣ೯БٙהϞAٰ̙ᔷ౬ʮ̡වՎѩ͟ዹͭʮ̡ٙʮɛɻႩᒅf߰ࡊAٰ̙ᔷ౬ʮ̡වՎ͟ᗫஹɛɻආБႩᒅࣛd͉ʮ̡ਗ਼፭ςɪ̹ۆୋ14Aɨٙᗫ֛dܼ̍೯бʮѓʿஷՌd˸ʿᐏ՟ዹٰͭ؇ҭࡘfᅲʔϽᅇیئҳ༟ණྠʿಲऎਿږ၍ଣ˾ڌಲऎਿږŊಲऎਿږৰႩᒅ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎԨᔷٰ̮dІ˸Չ˼Җόᄣܵʮٰ̡΅ٙઋҖf ɪࠑணස͜ၑ͉ϣ೯Б࿁͉ʮٰ̡ᛆഐٙᅂᚤdʔ˾ڌ࿁͉ϣ೯Б˙ࣩeછٰٰ؇Ŋ˴؇ٰࠅႩᒅจᗴձ೯Бഐ؈Ъ̈ཫואࠇፕdྼყ೯Б˙ࣩ͟ϋ؇ٰܓɽึʿᗳйٰ؇ɽึબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙઋرᆽ֛dԨί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ೯Бʮѓʕʚ˸מᚣdྼყ೯Бઋرਗ਼ίAٰ̙ᔷ౬ʮ̡වՎɪ̹ʮѓࣣʕʚ˸מᚣf –23– ԫึՌ ਿ˸ɪΌணd͉ʮ̡௰ྼܝყ̙Б˚ಂŊၡટAٰ̙ᔷ౬ʮ̡වՎ೯БҁϓۃŊၡᎇAٰ̙ᔷ౬ʮ̡වՎ೯БҁϓШ֠͊ᔷٰd˸ʿၡᎇAٰ̙ᔷ౬ʮ̡වՎ೯Бҁϓٰٙᛆഐνɨj ௰ྼܝყ̙Б˚ಂŊ ၡᎇAٰ̙ᔷ౬ʮ̡ ၡટAٰ̙ᔷ౬ʮ̡ වՎ೯БҁϓdԨண වՎ೯БҁϓۃŊ Aٰ̙ᔷ౬ʮ̡වՎ ၡᎇAٰ̙ᔷ౬ʮ̡වՎ ˸ɪࠑணᔷٰᄆࣸ ٰ؇ ೯БҁϓШ֠͊ᔷٰ Όᔷٰܝ Ц͉ʮ̡ Ц͉ʮ̡ࣛ Όʊ೯Б ᓒɽΌ ٰ΅฿ ʊ೯Бٰ΅ ٰ΅ᅰͦ ߒϵʱˢ ٰ΅ᅰͦ
ٙ฿ߒϵʱˢ Aٰ ڢʮٰՉʕjیئҳ༟ණྠ ಲऎਿږ၍ଣ˾ڌಲऎਿږŊಲऎਿږ ʮٰʮٰᅰ 1,973,705,700822,983,847 608,000,000 700,000,000 50.302%20.975% 1,973,705,700822,983,847 15.495%608,000,000 17.840%930,572,160 47.510%19.810% 14.635% 22.400% Aٰᐼٰᅰ Hٰ ڢʮٰՉʕjɽئॷุ*ʮٰʮٰᅰ 2,673,705,700 68.142%2,904,277,860 69.910% 37,807,00037,807,000 1,212,222,000 0.964%0.964% 37,807,00037,807,000 30.895%1,212,222,000 0.910%0.910% 29.180% Hٰᐼٰᅰ 1,250,029,000 31.858%1,250,029,000 30.090% A+Hٰ͉ʮ̡ᐼٰᅰ 3,923,734,700 100%4,154,306,860 100% * ɽئॷุیئމҳ༟ණྠٙගટΌ༟ڝ᙮ʮ̡ –24– ԫึՌ ೯БAٰ̙ᔷ౬ʮ̡වՎʔึ࿁ɪ̹ۆ֛ٙ͟ʮɛɻܵϞٰٙ΅ʿHٰٙ௰ЭᅰͦிϓʔлᅂᚤfԨ˲d࣬ኽʕശɛ͏ձৌ݁೯бٙᗫϞږፄΆุ೯Б̙ᔷ౬ʮ̡වՎϞᗫԫ֝ٙஷٝৌږ[2013]116ୋɓૢୋɚಛછՓɢۆࡡfϞږፄΆุ೯Б̙ᔷ౬ʮ̡වՎdࠅʲྼၪᚐϞ̈༟ɛᛆूdܵڭϞછՓɢf̙ᔷ౬ʮ̡වՎБᛆܝdۆࡡɪϞછٰήЗᏐڭܵʔᜊٙࠅӋd͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎΌᔷٰܝd͉ʮ̡ʔึ̈ତછٰᛆᜊਗٙઋҖfܙᔾ֛Aٰ̙ᔷ౬ʮ̡වՎٙૢಛʿ̊೮ϞᗫණႭࣣܝd͉ʮ̡ਗ਼ЪආɓӉʮбf19eዄڭԫධ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎʔԶዄڭf20eණ༟ږπ၍ ͉ʮ̡ʊͭܔʮ̡ණ༟ږ၍ଣՓܓd͉ϣ೯Бٙණ༟ږਗ਼π׳͉ʮ̡ԫึӔ֛ٙਖ਼ධሪ˒ʕdՈක˒ԫ֝ί೯Б͉͟ۃʮ̡ԫึᆽ֛f21eӔᙄϞࣖಂ ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎӔᙄٙϞࣖಂމϋ؇ٰܓɽึʿᗳйٰ؇ึᙄᄲᙄஷཀ͉ϣ೯Б˙ࣩʘ˚ৎɤɚ˜ࡈf(IV)ܔᙄʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩΌ˖༱͉ஷՌڝɚf೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩʊ2017ϋ4˜6˚ԫึஷཀԨӔᙄሗٰ؇ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩ˙όҭࡘ༈ཫࣩf –25– ԫึՌ (V)ᗫʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎණ༟ږԴ̙ٙ͜Бʱؓజѓ͉ϣ೯Бŭٰ̙ᔷ౬ʮ̡වණ༟ږԴ̙ٙ͜БʱؓజѓΌ˖༱͉ஷՌڝ ɧf̙Бʱؓజѓʊ2017ϋ4˜6˚ԫึᄲᙄஷཀԨӔᙄሗٰ؇ϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩ˙όҭࡘ༈జѓf(VI)ᗫۃϣණ༟ږԴ͜ઋرజѓ ͉ʮ̡࿚Ї2016ϋ3˜31˚ٙۃϣණ༟ږԴ͜ઋرజѓΌ˖༱͉ஷՌڝ̬fԫึʊ2017ϋ4˜6˚ҭࡘԨӔᙄሗϋ؇ٰܓɽึʿᗳйٰ؇ɽึ˸तйӔᙄࣩ˙όҭࡘ༈ۃϣණ༟ږԴ͜ઋرజѓf(VII)બᛆԫึ፬ଣʮක೯Бʮක೯БAٰ̙ᔷ౬ʮ̡වՎᗫԫ֝ ࣬ኽʕശɛ͏ձʮ̡جeʕശɛ͏ձᗇՎجഃجܛج˸ʿʮ̡ٙϞᗫ֛dԫึሗϋ؇ٰܓɽึʿᗳйٰ؇ึᙄબᛆԫึdίϋܓٰ؇ɽึʿᗳйٰ؇ึᙄᄲᙄஷཀٙ࣪ݖձۆࡡɨd፬ଣ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯Бٙᗫԫ֝fબᛆಂࠢމϋ؇ٰܓɽึʿᗳйٰ؇ึᙄӔᙄ͛ࣖʘ˚ৎ12˜ࡈd༈બᛆಂ֣ࠢတۃdԫึਗ਼࣬ኽ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯БٙྼყઋرdΣ͉ʮٰ̡؇ɽึʿᗳйٰ؇ึᙄሗҭࡘอٙબᛆf Ոબᛆʫ࢙ʿᇍఖܼ̍Шʔࠢj(i)࣬ኽʕجܛجeᗇՎ္၍ٙژϞᗫ֛ʿ͉ʮ̡ՈઋرdՓ֛ձ ྼ݄͉ϣ೯БٙՈ˙ࣩd࿁Aٰ̙ᔷ౬ʮ̡වՎٙ೯БૢಛආБቇࡌࠈeሜձ̂dί೯БۃᆽՈٙ೯Бૢಛʿ೯Б˙ࣩdՓ֛ձྼ݄͉ϣ೯Бٙ௰˙ࣩdܼ̍Шʔࠢᆽ֛೯Бᅼe೯Б˙όʿ࿁eΣࡡAٰٰ؇ᎴৣਯٙˢԷeڋᔷٰᄆࣸٙᆽ֛eᔷٰᄆ͍ࣸࡌeᛙΫeවՎлଟe֛ߒවՎܵϞɛึᙄٙᛆлʿՉ̜කҏ˸ʿӔᙄٙ͛ࣖ –26– ԫึՌ ૢeӔ֛͉ϣ೯Бࣛዚeᄣணණ༟ږਖ਼˒eᖦණ༟ږਖ਼˒πᎷɧ˙္၍ᙄʿՉ̴ၾ೯Б˙ࣩᗫٙɓʲԫ֝i (ii)ҭࡘeᖦeࡌҷêeʹeяజeੂБၾ͉ϣ೯БϞᗫٙɓʲᙄe͡జ˖ձՉ˼˖dԨ፬ଣᗫٙ͡ሗeజҭe೮াe௪ࣩഃ˓ᚃi (iii)໌ሗᗫʕʧዚԨၾʘᖦᗫᙄd፬ଣ͉ϣ೯Бٙᗫԫ֝i࣬ኽ္၍ࠅٙژӋႡЪeࡌҷeజϞᗫ͉ϣ೯Бʿɪ̹ٙ͡జҿࣘdΌᛆΫూᗇՎ္၍ٙژˀ㉿จԈi (iv)፬ଣ͉ϣ೯Бණ༟ږԴ͜ᗫԫ֝dԨίٰ؇ɽึʿᗳйٰ؇ึӔᙄᇍఖʫ࿁͉ϣ೯Бණ༟ږԴ͜ʿՈτરආБሜi (v)͉ϣ೯Бҁϓܝd፬ଣ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎίɪऎᗇՎʹהʿʕᗇՎ೮াഐၑϞࠢபʮ̡ɪऎʱʮ̡೮াeɪ̹ഃᗫԫ֝i (vi)࣬ኽ͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Бձᔷٰઋرቇࣛࡌҷʮ̡ʕٙᗫૢಛdԨ፬ଣʈਠ௪ࣩeൗ̅༟͉ᜊһ೮াഃԫ֝i (vii)ί፭ς֣ࣛቇٙ͜ʕۃٙܛجɨdνܛجeجʿՉ˼ᇍ˖ձϞᗫ္၍ژ࿁ɪ̹ʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎ݁ഄϞอ֛ٙ˸ʿ̹ఙઋر೯͛ᜊʷdৰऒʿϞᗫجܛجʿʮٰ̡֛͟؇ɽึʿᗳйٰ؇ึࠠอڌӔ˲ʔʪબᛆٙԫධd࣬ኽϞᗫ֛˸ʿᗇՎ္၍ࠅٙژӋܼ̍࿁͉ϣ೯Б͡ሗٙᄲࣨˀ㉿จԈձ̹ఙઋر࿁͉ϣ೯Б˙ࣩeණ༟ږҳΣഃආБሜԨᘱᚃ፬ଣ͉ϣ೯Бԫ֝i (viii)ί̈ତʔ̙ҤɢאՉ˼ԑ˸Դ͉ϣ೯Б˙ࣩᗭ˸ྼ݄eא٫ᒱ್̙˸ྼ݄Шึഗʮ̡੭Ըʔл؈ܝʘઋҖdא೯БAٰ̙ᔷ౬ʮ̡වՎ݁ഄ೯͛ᜊʷࣛdઋӔ֛͉ϣ೯Б˙ַࣩಂྼ݄אۃ˟i –27– ԫึՌ (ix)ίᗫجܛجʪٙۃɨd˾͉ڌʮ̡ਂ̈ၾ͉ϣ೯БϞᗫٙ̀ცeܦձΥቇٙהϞՉ˼ԫධiʿ (x)ԫึϞᗫ͉ϣ೯Бٙᔷબᛆԫ֝f މҪ̹ఙࣛዚdᔊʷʫᄲҭҏd৷Ӕഄࣖଟdʮٰ̡؇ɽึʿᗳйٰ؇ึᄲᙄஷཀ͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎબᛆԫ֝ܝd̙͟ԫึᔷબᛆʮ̡ԫڗeᐼאԫึ।ࣣdఊዹאΝΌᛆஈଣ͉ϣ೯Бٙᗫԫ֝f (VIII)બᛆᗫɛɻ፬ଣʮක೯БAٰ̙ᔷ౬ʮ̡වՎᗫԫ֝ ࣬ኽᗫܛجeج˸ʿʮ̡ٙϞᗫ֛dʮ̡ԫึᏝબᛆԫڗeᐼאԫึ।ࣣᗫɛɻdίϋ؇ٰܓɽึʿᗳйٰ؇ึᙄᄲᙄஷཀٙ࣪ݖձۆࡡɨdΝאఊዹ፬ଣ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯Бٙᗫԫ֝fબᛆಂࠢމϋٰܓ؇ɽึʿᗳйٰ؇ึᙄӔᙄ͛ࣖʘ˚ৎ12˜ࡈd༈બᛆಂ֣ࠢတۃdԫึਗ਼࣬ኽ͉ϣAٰ̙ᔷ౬ʮ̡වՎ೯БٙྼყઋرdΣ͉ʮٰ̡؇ɽึʿᗳйٰ؇ึᙄሗҭࡘอٙબᛆf Ոબᛆʫ࢙ʿᇍఖܼ̍Шʔࠢj (i)࣬ኽʕجܛجeᗇՎ္၍ٙژϞᗫ֛ʿ͉ʮ̡ՈઋرdՓ֛ձྼ݄͉ϣ೯БٙՈ˙ࣩd࿁Aٰ̙ᔷ౬ʮ̡වՎٙ೯БૢಛආБቇࡌࠈeሜձ̂dί೯БۃᆽՈٙ೯Бૢಛʿ೯Б˙ࣩdՓ֛ձྼ݄͉ϣ೯Бٙ௰˙ࣩdܼ̍Шʔࠢᆽ֛೯Бᅼe೯Б˙όʿ࿁eΣࡡAٰٰ؇ᎴৣਯٙˢԷeڋᔷٰᄆࣸٙᆽ֛eᔷٰᄆ͍ࣸࡌeᛙΫeවՎлଟe֛ߒවՎܵϞɛึᙄٙᛆлʿՉ̜කҏ˸ʿӔᙄٙ͛ࣖૢeӔ֛͉ϣ೯Бࣛዚeᄣணණ༟ږਖ਼˒eᖦණ༟ږਖ਼˒πᎷɧ˙္၍ᙄʿՉ̴ၾ೯Б˙ࣩᗫٙɓʲԫ֝i (ii)ҭࡘeᖦeࡌҷêeʹeяజeੂБၾ͉ϣ೯БϞᗫٙɓʲᙄe͡జ˖ձՉ˼˖dԨ፬ଣᗫٙ͡ሗeజҭe೮াe௪ࣩഃ˓ᚃi –28– ԫึՌ (iii)໌ሗᗫʕʧዚԨၾʘᖦᗫᙄd፬ଣ͉ϣ೯Бٙᗫԫ֝i࣬ኽ္၍ࠅٙژӋႡЪeࡌҷeజϞᗫ͉ϣ೯Бʿɪ̹ٙ͡జҿࣘdΌᛆΫూᗇՎ္၍ٙژˀ㉿จԈi (iv)፬ଣ͉ϣ೯Бණ༟ږԴ͜ᗫԫ֝dԨίٰ؇ɽึʿᗳйٰ؇ึӔᙄᇍఖʫ࿁͉ϣ೯Бණ༟ږԴ͜ʿՈτરආБሜi (v)͉ϣ೯Бҁϓܝd፬ଣ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎίɪऎᗇՎʹהʿʕᗇՎ೮াഐၑϞࠢபʮ̡ɪऎʱʮ̡೮াeɪ̹ഃᗫԫ֝i (vi)࣬ኽ͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Бձᔷٰઋرቇࣛࡌҷʮ̡ʕٙᗫૢಛdԨ፬ଣʈਠ௪ࣩeൗ̅༟͉ᜊһ೮াഃԫ֝i (vii)ί፭ς֣ࣛቇٙ͜ʕۃٙܛجɨdνܛجeجʿՉ˼ᇍ˖ձϞᗫ္၍ژ࿁ɪ̹ʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎ݁ഄϞอ֛ٙ˸ʿ̹ఙઋر೯͛ᜊʷdৰऒʿϞᗫجܛجʿʮٰ̡֛͟؇ɽึʿᗳйٰ؇ึࠠอڌӔ˲ʔʪબᛆٙԫධd࣬ኽϞᗫ֛˸ʿᗇՎ္၍ࠅٙژӋܼ̍࿁͉ϣ೯Б͡ሗٙᄲࣨˀ㉿จԈձ̹ఙઋر࿁͉ϣ೯Б˙ࣩeණ༟ږҳΣഃආБሜԨᘱᚃ፬ଣ͉ϣ೯Бԫ֝i (viii)ί̈ତʔ̙ҤɢאՉ˼ԑ˸Դ͉ϣ೯Б˙ࣩᗭ˸ྼ݄eא٫ᒱ್̙˸ྼ݄Шึഗʮ̡੭Ըʔл؈ܝʘઋҖdא೯БAٰ̙ᔷ౬ʮ̡වՎ݁ഄ೯͛ᜊʷࣛdઋӔ֛͉ϣ೯Б˙ַࣩಂྼ݄אۃ˟i (ix)ίᗫجܛجʪٙۃɨd˾͉ڌʮ̡ਂ̈ၾ͉ϣ೯БϞᗫٙ̀ცeܦձΥቇٙהϞՉ˼ԫධf –29– ԫึՌ (IX)ʮක೯БAٰ̙ᔷ౬ʮ̡වՎᛅᑛуಂΫజʿ෬ણ݄ ͉ϣ೯Бŭٰ̙ᔷ౬ʮ̡වՎᛅᑛуಂΫజʿ෬ણ݄Ό˖༱͉ஷՌڝʞfᛅᑛуಂΫజʿ෬ણ݄ʊ2017ϋ4˜6˚ԫึᄲᙄஷཀԨӔᙄሗٰ؇ϋܓٰ؇ɽึʿᗳйٰ؇ึᙄɪᄲᙄdԨνႩމΥቇd˸तйӔᙄࣩ˙όҭࡘ༈ᛅᑛуಂΫజʿ෬ણ݄f ཀ̘ɤɚٰ͉ٙ˜ࡈණ༟ݺਗ ͉ʮ̡ၡટ௰ྼܝყ̙Б˚ಂٙۃɤɚ˜ࡈආБʘٰ͉ණ༟ݺਗ༱ΐνɨj ʮѓŊஷՌ˚ಂ ණ༟ݺਗ ᘪණהಛධଋᕘ฿הߒಛධଋᕘʘᏝ֛͜ הಛධଋᕘʘྼყ͜ ͉ʮ̡˚ಂމ2014ϋ9˜29˚e2014ϋ11˜14˚e2014ϋ12˜1˚e2014ϋ12˜5˚e2015ϋ10˜19˚e2015ϋ12˜7˚e2015ϋ12˜29˚e2016ϋ2˜2˚e2016ϋ3˜23˚e2016ϋ6˜22˚e2016ϋ9˜29˚e2016ϋ10˜14˚e2016ϋ11˜4˚e2016ϋ11˜9˚e2016ϋ11˜18˚e2016ϋ11˜25˚e2016ϋ12˜8˚e2016ϋ12˜15˚ʿ2016ϋ12˜30˚ٙʮѓ˸ʿ͉ʮ̡˚ಂމ2014ϋ10˜29˚e2015ϋ11˜20˚e2016ϋ3˜8˚ʿ2016ϋ11˜3˚ٙஷՌ Aٰ೯Б ɛ͏࿆28ᄂʩ ϔৰAٰ೯Б൬͜ܝdਗ਼Ό͉̂͜ʮ̡ٙᐄ༶༟ږd˸˕͉ܵʮ̡͊Ըุਕٙ೯࢝dڮආ͉ʮ̡ଫ೯ͦ࢝ᅺٙྼତfණ༟ږՈ͜ձτરՉʕܼ̍j 1̋ɽ༟͉ʕʧุਕٙ༟ৣږໄᅼi 2ጐุ̮ྤ࢝ןਕi 3ᄣ̋ձᎴʷၣᓃб҅eܔணڢତఙਕ̨̻dʺุߏਕྼɢi 4࣬ኽ̹ఙઋرቇܓᓒɽІᐄุਕᅼi ࿚Ї2017ϋ3˜31˚dϔৰAٰ೯Б൬͜ܝdණ༟ږʊ͜˸ɨ͜j 1ߒ80%ʊ͜Ъ̋ɽ༟͉ʕʧุਕٙ༟ৣږໄᅼi 2ߒ9%ʊ͜Ъ࣬ኽ̹ఙઋرቇܓᓒɽІᐄุਕᅼiʿ 3ߒ0.1%ʊ͜Ъ̋ɽ࿁௴อุਕٙ༟˕ږܵf 5৷ҳ༟ვБוቖঐɢձɛุࡰਕঐɢi 6ᖢਂ੶༟ପ၍ଣุਕdʺҳձၝΥБቖঐɢi 7࿁ʕཻක๕௴ุҳ༟၍ଣϞࠢʮ̡ᄣ༟i 8࿁ʕࡡಂٰ΅Ϟࠢʮ̡ᄣ༟i 9̋ɽ࿁௴อุਕٙ༟ܵ˕ږi 10̋Ҟʝᑌၣږፄܔணiʿ 11੶ʷࢹڦӻ୕ܔணഃධͦf –30– ԫึՌ ৰɪ̮ࠑd͉ʮ̡ၡટ௰ྼܝყ̙Б˚ಂٙۃɤɚ˜ࡈԨೌආБОٰ͉ණ༟ݺਗf೯БAٰ̙ᔷ౬ʮ̡වՎٙଣ͟ʿႢू މආɓӉʺଋ༟͉ᅼdတԑ͊Ըධุਕ೯࢝࿁ଋ༟͉ձᐄ༶༟ٙږცӋd͉ʮ̡Ꮭஷཀʮක೯БAٰ̙ᔷ౬͉ʮ̡වՎණ༟ږʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩɛ͏࿆dϔৰ೯Б൬͜ܝΌ̂͜ᐄ༶༟ږdίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰܝᄣ͉̋ʮ̡༟͉ږd˸˕ܵ͊Ըุਕ೯࢝dΌࠦʺ͉ʮ̡̹ٙఙᘩنɢձҤࠬᎈঐɢdһλήҪʕࡡਜ೯ٙ࢝ዝ̦ࣛዚdܱઢیئᗇՎБุ೯࢝ᆑɢdᏐ࿁ʕᗇՎБุҞ೯࢝੭Ըٙዚ༾ၾܿdڮආ͉ʮ̡ଫ೯ͦ࢝ᅺٙྼତfɪ̹ٙۆ່ ࣬ኽɪ̹ۆୋ19A.38ૢd͉ϣ೯Бٙतйબᛆ፭ςϋ؇ٰܓɽึձᗳйٰ؇ึᙄҭٙࡘ֛f Ϟᗫ͉ϣ೯Бʿतйબᛆٙܔᙄ2017ϋ4˜6˚ᐏԫึϽᅇʿҭࡘf฿ೌԫɪࠑԫ֝ʕኹϞࠠɽᛆूdΪϤ฿ೌԫ׳ఱϞᗫԫึӔᙄࣩҳୃf ԫึཫಂ͉ʮ̡ਗ਼ᘱᚃၪܵԑٙʮٰܵඎ˸ୌΥɪ̹ۆʕቇٙ͜௰ЭࠅӋfϋ؇ٰܓɽึʿᗳйٰ؇ึᙄ ͉ʮ̡ᔫࠈ2017ϋ5˜22˚ಂɓɪʹ9ࣛ30ʱeɪʹ11ࣛאၡᎇϋ؇ٰܓɽึഐҼַאಂ˸ܝ༰ૉ٫މʿɪʹ11ࣛ30ʱאၡᎇHٰᗳйٰ؇ึᙄഐҼַאಂ˸ܝ༰ૉ٫މʕیئቍψ̹ਜڎႷ༩1රڎئႷึᙄʕːʱйᑘБϋ؇ٰܓɽึeHٰᗳйٰ؇ึᙄʿAٰᗳйٰ؇ึᙄf ฿ೌٰ؇ఱяϋ؇ٰܓɽึאᗳйٰ؇ึᙄҭٙࡘӔᙄࣩ׳ҳୃf –31– ԫึՌ ϋ؇ٰܓɽึʿHٰᗳйٰ؇ึᙄቇٙ͜˾ଣ։ৄࣣʊ2017ϋ4˜7˚೯ഗcტɨfೌሞcტɨঐщፋԒ̈ࢩϋ؇ٰܓɽึʿHٰᗳйٰ؇ึᙄdਕሗးҞਗ਼ቇٙ͜˾ଣ։ৄࣣܲՉΙΐܸٙͪ෬ѼԨʹΫfHٰٰ؇ᏐʹΫ˾ଣɛ։ࣸڌЇ͉ʮ̡ٙHٰཀ˒೮াஈ࠰ಥʕ̯ᗇՎ೮াϞࠢʮ̡dήѧ࠰މಥᝄ˺ެΧɽ༸؇183Υձʕː17Mᅽd˲းҞԨίОઋرɨʔ፰ϞᗫึᙄאՉОᚃึܸ֛ᑘБࣛග֛ܸאආБҳୃڌӔࣛග24ʃࣛʹۃΫfcტɨ෬ѼԨʹΫ˾ଣ։ৄࣣܝdʥ̙ԱᗴፋԒ̈ࢩϞᗫึᙄאՉОᚃึdԨึɪҳୃfҳୃڌӔ ࣬ኽɪ̹ۆୋ13.39
(4)ૢdٰ؇ٰ؇ɽึɪהЪ̈ٙОڌӔ˸ҳୃ˙όආБfΪϤdఱϋ؇ٰܓɽึʿᗳйٰ؇ึᙄஷѓʱй༱ϞٙӔᙄࣩЪ̈ٙڌӔਗ਼࣬ኽʮ̡ୋ124ૢ˸ҳୃ˙όආБf ҳୃڌӔࣛdӊΤፋԒא։˾ݼଣɛ̈ࢩϋ؇ٰܓɽึאᗳйٰ؇ึᙄʘٰ؇אνމʮ̡Չ͍όબᛆ˾̙ڌఱٰ؇Τ̅ʫ˸ՉΤ່೮াʘӊٰٰ΅ҳɓୃfϞᛆҳεɓୃʘٰ؇ˡԴ͜ՉהϞҳୃᛆ˸אΝ˙όԴ͜ՉהϞҳୃᛆfપᑥܔᙄ ԫึႩהމϞਗ਼ίϋ؇ٰܓɽึʿᗳйٰ؇ึᙄɪяٙӔᙄࣩѩୌΥ͉ʮ̡ʿՉٰ؇ٙлूd݂ܔᙄcტɨҳୃᗎϓהϞਗ਼ึɪяٙӔᙄࣩfபᑊ ͉ஷՌٙ༟ࣘɗ፭ɪ̹̊ۆ༱dϙίԶϞᗫ͉ʮ̡ٙ༟ࣘdԫᗴఱϤΝʿࡈйוዄΌபfԫЪ̈ɓʲΥଣݟ༔ܝᆽႩdఱ־ഃٝהʿڦהd͉ஷՌה༱༟ࣘίࠠࠦ˙ࠅѩ᙮ᆽҁ௪dʿԨೌႬኬאಜൟϓ΅d˲Ԩೌ፲ဍОՉ˼ԫྼdߧԴ͉ஷՌאՉה༱Оࠑପ͛Ⴌኬf –32– ԫึՌ̋ڝ༟ࣘ ᔫሗcტɨ͉ۧءஷՌڝה༱ٙՉ˼༟ࣘfϤߧΐЗٰ؇c̨ 2017ϋ5˜5˚ וԫึնʕࡡ證Վٰ΅Ϟࠢʮ̡ ԫڗളࠏᔫ઼ –33– ڝɓ HٰΫᒅ˙ࣩબᛆʘႭՌ ͉ڝɗɪ̹הۆ֛ٙႭՌdϙίΣcტɨԶ̀ٙࠅ༟ࣘdᜫcტɨঐఱҳୃᗎϓאˀ࿁ҭࡘબʚԫᒅΫબᛆٙतйӔᙄࣩЪ̈ٝઋӔ֛f ϞᗫᒅΫᗇՎٙɪ̹ۆ ɪ̹ࡘۆᑌʹהЪୋɓɪ̹ٙʮ̡ᑌʹהᒅΫՉᗇՎdઓա߰ʍࠢ
ՓdՉʕ௰ࠠࠅ٫฿ࠑνɨf͉ʮ̡ᐏʮ̡ረᛆᒅΫՉ͉ԒٙᗇՎf ٰ͉ ௰ྼܝყ̙Б˚ಂd͉ʮ̡ൗٰ͉̅މɛ͏࿆3,923,734,700ʩdܼ̍2,673,705,700ٰAٰʿ1,250,029,000ٰHٰfܙબ̈ᒅΫબᛆʘяӔᙄࣩᐏஷཀd˲͉ʮ̡ϋ؇ٰܓɽึʿᗳйٰ؇ɽึ˚ಂאʘۃਗ਼ʔึৣ೯ʿ೯БאᒅΫHٰd͉ۆʮ̡ਗ਼Ϟᛆ࣬ኽᒅΫબᛆᒅΫ௰ε125,002,900ٰHٰdу௰ε͉މʮ̡ᗫӔᙄࣩஷཀ˚ʊ೯БHٰᐼᅰٙ10%fᒅΫٙଣ͟ԫႩމdᒅΫબᛆୌΥ͉ʮ̡ʿٰ؇ٙлूfൖ˷̹ࣛٙఙઋرձ༟ږτરdБԴᒅΫબᛆ̙ঐ৷ӊٰ༟ପଋ࠽ʿŊאӊٰޮлdසԫႩމᒅΫਗ਼Ϟл͉ʮ̡ʿՉٰ؇ࣛdʑึБԴᒅΫબᛆf ᒅΫٙ༟ږ ᒅΫHٰࣛd͉ʮ̡̥̙༶࣬͜ኽʮ̡eɪ̹ۆʿʕቇ͜ܛجeۆʿԷ̙ΥجЪϤ͉ٙ͜ʮ̡ʫ༟๕ٙ༟ږdܼ̍Шʔ͉ࠢʮ̡ٙ௵ቱ༟ږձ͊ʱৣлᆗ˸אᒅΫٙͦމ೯Бอٰ΅הಛධf ϽᅇՑ͉ʮ̡ͦٙۃᐄ༶༟رًږdԫႩ߰މΌࠦБԴᒅΫબᛆd̙ঐਗ਼࿁͉ʮ̡ٙᐄ༶༟ږʿŊא༟͉ࠋවًرၾ͉ʮ̡࿚Їɚཧɓʬϋɤɚ˜ɧɤɓ˚˟ϋܓϋజה༱ٙ௰ڐಂ̊೯ᄲࣨሪͦמᚣʘɚཧɓʬϋɤɚ˜ɧɤɓ˚ًرˢ༰ପ͛ࠠɽʔлᅂᚤf್ϾdԫʔᏝආБОᒅΫd˸ߧ࿁ԫႩމʔࣛ࿁͉ʮ̡᙮ቇ͉ٙʮ̡ᐄ༶༟ږცӋא༟͉ࠋවًرϞࠠɽʔлᅂᚤfίОઋرɨdਗ਼ʚᒅΫٙHٰᅰͦd˸ʿᒅΫHٰٰٙᄆձՉ˼ૢಛdਗ਼͟ԫϞᗫࣛගϽᅇࣛઋرܝdίୌΥ͉ʮ̡௰ԳлूٙઋرɨӔ֛f –34– ڝɓ HٰΫᒅ˙ࣩબᛆʘႭՌ ᒅΫHٰٙήЗ ɪ̹ۆ֛d͉ʮ̡ᒅΫٙהϞHٰਗ਼Іਗቖɪ̹ήЗdϾϞᗫٰୃʚൗቖʿቖ์fܲʕܛجd͉ʮ̡ᒅΫٙHٰਗ਼ൗቖdϾ͉ʮ̡ൗ̅༟͉ਗ਼ಯ̘ၾൗቖHٰᐼࠦ࠽ഃٙږᕘf Hٰٰᄆ Hٰ௰ྼܝყ̙Б˚ಂۃཀ̘ɤɚ˜ࡈʫίᑌʹٙהӊ˜௰৷ʿ௰Эϓʹᄆࣸνɨj ௰৷ಥʩ ௰Эಥʩ ɚཧɓʬϋ̬˜ʞ˜ʬ˜ɖ˜ɞ˜ɘ˜ɤ˜ɤɓ˜ɤɚ˜ 4.2503.9303.5203.4703.7603.9204.2204.9804.660 3.8502.9703.0503.2603.2603.5203.6603.9004.100 ɚཧɓɖϋɓ˜ɚ˜ɧ˜̬˜ʞ˜࿚Ї௰ྼܝყ̙Б˚ಂ ԫוፕ 4.3804.6504.6204.2404.150 3.8903.8504.0503.9204.080 ԫʊΣᑌʹוהፕd־ഃਗ਼ቇ͜ઋرɨ࣬ኽᒅΫબᛆԨܲɪ̹ۆeʮ̡eቇٙ͜ʕܛجeۆʿجdБԴ͉ʮ̡ٙᛆɢЪ̈ᒅΫf ᛆूמᚣ ఱԫЪ̈ɓʲΥଣݟ༔הܝଉٝd฿ೌԫ־אഃٙၡᑌᖩɛͦۃϞจᒅΫબᛆίϋ؇ٰܓɽึʿᗳйٰ؇ɽึᐏҭܝࡘdΣ͉ʮ̡̈ਯО͉ʮ̡Hٰf –35– ڝɓ HٰΫᒅ˙ࣩબᛆʘႭՌ ௰ྼܝყ̙Б˚ಂd฿ೌ͉ʮ̡ࣨːᗫஹɛɻʊٝึ͉ʮ̡dࡊᒅΫબᛆᐏબ̈dՉͦۃϞจΣ͉ʮ̡̈ਯОHٰdϾ༈ഃࣨːᗫஹɛɻ͵ೌוፕʔึΣ͉ʮ̡̈ਯ־ഃܵϞʘОᗇՎf ϗᒅςۆʘ່ ͉ࡊʮ̡࣬ኽᒅΫબᛆБԴՉᛆɢᒅΫᗇՎd˸͉ܵה؇ٰݔߧʮ̡ٙҳୃᛆᛆूˢԷᄣ̋dۆఱϗᒅςۆۆ32ϾԊd༈ධᄣ̋ਗ਼ൖމɓධϗᒅfΪϤdɓΤٰ؇אɓଡ଼ɓߧБਗٰٙ؇̙ঐ՟אቩո͉ʮ̡ٙછՓᛆd˲࣬ኽϗᒅςۆۆ26ʿۆ32̈੶Փߒࠅf ௰ྼܝყ̙Б˚ಂdఱԫٝהʿڦהj(i)یئҳ༟ණྠ؇ٰࠅ˴މdܵϞ822,983,847ٰAٰdЦ͉ʮ̡ൗ̅༟͉ߒ20.975%i(ii)ಲऎਿږ၍ଣ˾ڌಲऎਿږʿಲऎਿ؇ٰࠅ˴މږdܵϞ608,000,000ٰAٰdЦ͉ʮ̡ൗ̅༟͉ߒ15.495%fਿ௰ྼܝყ̙Б˚ಂʊ೯Б3,923,734,700ٰٰ΅dԨணϋ؇ٰܓɽึʿᗳйٰ؇ɽึ˚ಂאʘۃd͉ʮ̡ʔึ೯БאᒅΫОՉ˼ٰ΅d߰ۆᅰБԴᒅΫબᛆdیئҳ༟ණྠʿՉၡᑌᖩɛܼ̍ɽئॷุ͉ʮ̡ܵϞٙᛆूϵʱˢਗ਼ᄣЇЦ͉ʮ̡ࣛൗٰ͉̅ߒ22.660%dಲऎਿږ၍ଣ˾ڌಲऎਿږŊಲऎਿږʿՉഃၡᑌᖩɛ͉ʮ̡ܵϞٙᛆूϵʱˢਗ਼ᄣЇЦ͉ʮ̡ࣛൗٰ͉̅ߒ16.005%fԫ฿ʔٝ࣬ኽᒅΫબᛆආБОᒅΫਗ਼ପ͛ϗᒅςۆʿŊאОᗳЧቇ͜جԷɨٙО؈ܝfϤ̮dࡊ༈ධᒅΫਗ਼ኬߧʔୌɪ̹ۆୋ8.08ૢ֛ٙdۆԫʔึᑌʹהආБٰ΅ᒅΫf ͉ʮ̡ආБٙᗇՎᒅΫ ၡટ௰ྼܝყ̙Б˚ಂۃʬ˜ࡈd͉ʮ̡Ԩೌᒅ൯ОHٰʔሞίᑌʹאהృՉ˼ࢰf –36– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ͉ڝٙމ͉˖ߵՉʕ˖͉͍ٙڢόᙇ͉dνϞ່d฿˸ʕ˖͉މf ͉ʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩٙΌ˖༱ΐνɨj ʕࡡᗇՎٰ΅Ϟࠢʮ̡
ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ͉ʮ္̡ԫึʿΌ္ԫڭᗇ͉ʮѓʫ࢙ʔπίОൈা༱eႬኬאࠑ٫ࠠɽ፲ဍdԨ࿁Չʫྼॆ࢙ٙeᆽձҁוዄࡈйʿஹ੭பf ࠠࠅʫ࢙ͪj ͉ϣʮක೯БᗇՎΤ၈ʿ˙όjʮක೯Бᐼᕘʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩ
Aٰ̙ᔷ౬ʮ̡වՎ˸ɨᔊ၈͉ϣ೯Бf ᗫᑌ˙݊щਞၾ͉ϣʮක೯Бj͉ϣʮක೯БAٰ̙ᔷ౬ʮ̡වՎഗʚʮ̡ࡡAٰٰ؇ᎴৣਯᛆfՈᎴৣਯᅰඎٰ͟؇ɽึબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙઋرᆽ֛dԨί͉ϣ೯Бٙ೯Бʮѓʕʚ˸מᚣf༈ഃᎴৣਯਗ਼፭ςʕശɛ͏ձᗇՎجʿ࠰ಥᑌΥʹהϞࠢʮ̡ᗇՎɪ̹אۆОՉ̴္ִ݁א၍ዚٙהϞቇ͜جܛجʿԷܼ̍Ш݊ʔࠢᗫஹʹᗫٙۆձࠅӋd˙̙ໝྼf ɓe͉ϣ೯БୌΥɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جʮක೯БᗇՎૢٙႭ ࣬ኽʕശɛ͏ձʮ̡جeʕശɛ͏ձᗇՎجeɪ̹ʮ̡ᗇՎ೯Б၍ଣ፬جഃϞᗫܛجeجձᇍٙ˖֛dʕࡡ證Վٰ΅Ϟࠢʮ̡˸ɨᔊ၈ʕࡡᗇՎeʮ̡࿁ɪ̹ʮ̡ʮක೯БAٰ̙ᔷ౬ʮ̡වՎٙᗫ༟ࣸձૢٙࠅӋdႩॆධІݟdႩމʮ̡ୌΥϞᗫ֛ձࠅӋdՈ௪ʮක೯БAٰ̙ᔷ౬ʮ̡වՎٙ༟ࣸձૢf –37– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɚe͉ϣ೯Б฿ر ɓ೯БᗇՎٙ၇ᗳ ͉ϣ೯БᗇՎٙ၇ᗳ̙މᔷ౬މʮ̡Aٰٰୃ̙ٙᔷ౬ʮ̡වՎ˸ɨᔊ၈Aٰ̙ᔷ౬ʮ̡වՎf༈Aٰ̙ᔷ౬ʮ̡වՎʿ͊Ըᔷ౬ٙAٰٰୃਗ਼ίɪऎᗇՎʹהɪ̹f ɚ೯Бᅼ ͉ϣᏝ೯БAٰ̙ᔷ౬ʮ̡වՎᐼᕘʔ൴ཀɛ͏࿆27ᄂʩў27ᄂʩdՈᅰᕘٰ͟؇ɽึબᛆʮ̡ԫึאՉ˼બᛆɛɻίɪࠑᕘܓᇍఖʫᆽ֛f ɧୃࠦږᕘձ೯Бᄆࣸ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܲࠦ࠽೯Бdӊੵࠦމ࠽ɛ͏࿆100ʩf ̬වՎಂࠢ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎಂࠢމ೯Бʘ˚ৎʬϋf ʞවՎлଟ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٙୃࠦлଟٙᆽ֛˙όʿӊɓࢹࠇϋٙܓ௰лଟ˥̻dٰ͟؇ɽึબᛆʮ̡ԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ݁ഄe̹ఙًرձʮ̡Ոઋرၾڭᑥዚ˴וቖਠਠᆽ֛f ͉ϣAٰ̙ᔷ౬ʮ̡වՎί೯Бҁϓۃν༾ვБπಛлଟሜd؇ٰۆɽึબᛆԫึאՉ˼બᛆɛɻ࿁ୃࠦлଟЪᏐሜf ʬ˹ٙࢹಂࠢձ˙ό ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎમ͜ӊϋ˹ࢹɓϣٙ˹˙ࢹόdՑಂᓥᒔהϞՑಂ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎ͉ږձ௰ܝɓϋлࢹf –38– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ 1eϋлࠇࢹၑ ϋлܸࢹAٰ̙ᔷ౬ʮ̡වՎܵϞɛܲܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘІAٰ̙ᔷ౬ʮ̡වՎ೯Б˚ৎӊတɓϋ̙Ԯաٙಂлࢹf ϋлࠇٙࢹၑʮόމjI=BÒi Ijܸϋлࢹᕘi Bjܸ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛίࢹࠇϋ˸ܓɨᔊ၈ϋ
אӊϋ˹ࢹවᛆ೮া˚ܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi ijܸAٰ̙ᔷ౬ʮ̡වՎٙϋୃࠦлଟf 2e˹˙ࢹό
(1)͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎમ͜ӊϋ˹ࢹɓϣٙ˹˙ࢹόdࢹࠇৎ˚މAٰ̙ᔷ౬ʮ̡වՎ೯Б˚f
(2)˹˚ࢹjӊϋٙ˹͉މ˚ࢹϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ೯Б˚ৎӊတɓϋٙ˚dν༈˚˚ࢹ;א˚ື֛جމdۆනַЇɨɓʹࡈ˚dනַಂගʔ̤˹ࢹfӊቌٙՇ˚ࢹ˹ࡈʘගމɓࢹࠇࡈϋܓf
(3)˹ࢹවᛆ೮া˚jӊϋٙ˹ࢹවᛆ೮া˚މӊϋ˹ۃٙ˚ࢹɓʹ˚dʮ̡ਗ਼ίӊϋ˹˚ࢹʘٙܝʞʹࡈ˚ʫ˕˹ϋлࢹfί˹ࢹවᛆ೮া˚ࢹ˹ܼ̍ۃවᛆ೮া˚͡ሗᔷ౬ϓʮ̡AٰٰୃٙAٰ̙ᔷ౬ʮ̡වՎdʮ̡ʔΎΣՉܵϞɛ˕˹͉ࢹࠇϋܓʿ˸ࢹࠇܝϋٙܓлࢹf
(4)Aٰ̙ᔷ౬ʮ̡වՎܵϞɛהᐏлࢹϗɝٙᏐ˹ධܵ͟Ϟɛוዄf –39– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɖᔷٰಂࠢ ͉ϣAٰ̙ᔷ౬ʮ̡වՎᔷٰಂІAٰ̙ᔷ౬ʮ̡වՎ೯БഐҼʘ˚တʬܝ˜ࡈٙୋɓʹࡈ˚ৎЇAٰ̙ᔷ౬ʮ̡වՎՑಂ˚˟f ɞᔷٰᄆࣸٙᆽ֛ʿՉሜ 1eڋᔷٰᄆࣸٙᆽ֛Աኽ ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎٙڋᔷٰᄆࣸʔЭණႭࣣʮѓ˚ۃɧɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ߰ί༈ɧɤʹࡈ˚ʫ೯͛ཀΪৰᛆeৰˏࢹৎٰᄆሜٙઋҖdۆ࿁ሜʹۃ˚ٙϗᆵᄆܲཀᏐৰᛆeৰࢹሜٙܝᄆࣸࠇၑeۃɚɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ߰ί༈ɚɤʹࡈ˚ʫ೯͛ཀΪৰᛆeৰˏࢹৎٰᄆሜٙઋҖdۆ࿁ሜʹۃ˚ٙϗᆵᄆܲཀᏐৰᛆeৰࢹሜٙܝᄆࣸࠇၑձۃɓʹࡈ˚ʮ̡Aٰٰୃʹѩᄆʕٙ௰৷٫dՈڋᔷٰᄆࣸ͟ʮٰ̡؇ɽึબᛆʮ̡ԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙًرၾڭᑥዚ˴וቖਠਠᆽ֛f ۃɧɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ=ۃɧɤʹࡈ˚ʮ̡AٰٰୃʹᐼᕘŊ༈ɧɤʹࡈ˚ʮ̡Aٰٰୃʹᐼඎiۃɚɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ=ۃɚɤʹࡈ˚ʮ̡AٰٰୃʹᐼᕘŊ༈ɚɤʹࡈ˚ʮ̡Aٰٰୃʹᐼඎiۃɓʹࡈ˚ʮ̡Aٰٰୃʹѩᄆ=ۃɓʹࡈ˚ʮ̡AٰٰୃʹᐼᕘŊ༈˚ʮ̡Aٰٰୃʹᐼඎf –40– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ 2eᔷٰᄆࣸٙሜ˙όʿࠇၑʮό ί͉ϣ೯Бʘܝdʮ̡Ϊݼٰୃٰлeᔷᄣٰ͉eᄣ೯อٰٰৣאeݼତٰږлഃઋرʔܼ̍Ϊ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎᔷٰϾᄣٰ͉̋ٙࣛdਗ਼ܲɨࠑʮόආБᔷٰᄆࣸٙሜڭवʃᅰᓃܝՇЗd௰ܝɓЗ̬વʞɝj ݼٰୃٰлאᔷᄣٰ͉jP1ØP0Ŋ(1+n)i ᄣ೯อٰٰৣאjP1ØP0+AÒkŊ(1+k)i ɪࠑՇධΝࣛආБjP1ØP0+AÒkŊ(1+n+k)i ݼତٰږлjP1ØP0-Di ɪࠑɧධΝࣛආБjP1ØP0-D+AÒkŊ(1+n+k)f ՉʕjP0މሜۃᔷٰᄆdnݼމٰୃٰлאᔷᄣٰ͉ଟdkމᄣ೯อٰٰৣאଟdAމᄣ೯อٰᄆٰৣאᄆdDމӊٰݼତٰږлdP1މሜܝᔷٰᄆf ʮ̡̈ତɪ΅ٰࠑձŊ؇ٰאᛆूᜊʷࣛdਗ਼ԱϣආБᔷٰᄆࣸሜdԨίʕᗇ္ึܸ֛ٙɪ̹ʮ̡מࢹڦᚣదɪ̊೮ʮѓdԨʮѓʕ༱ᔷٰᄆࣸሜ˚eሜ፬جʿᅲ৾ᔷٰࣛಂνცiԨ࣬ኽ࠰ಥᑌΥʹהϞࠢʮ̡ᗇՎɪ̹ۆഃجܛجʿԷί࠰ಥ̹ఙʚ˸ʮбνცfᔷٰᄆࣸሜ˚͉މϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰ͡ሗ˚אʘܝdᔷ౬ٰ΅೮া˚ʘۃdۆ༈ܵϞɛٙᔷٰ͡ሗܲʮ̡ሜٙܝᔷٰᄆࣸੂБf ʮ̡̙ঐ೯ٰ͛΅ΫᒅeΥԻeʱͭאОՉ˼ઋҖԴʮٰ̡΅ᗳйeᅰඎձŊ؇ٰאᛆू೯͛ᜊʷϾ̙ঐᅂᚤ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛٙවᛆлूאᔷٰ͛ࠃᛆूࣛdʮ̡ਗ਼ൖՈઋܲرʮ̻eʮ͍eʮʪٙ˸ۆࡡʿ̂ʱڭᚐ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛᛆूٙۆࡡሜᔷٰᄆࣸfϞᗫᔷٰᄆࣸሜʫ࢙ʿЪ፬جਗ਼Աኽ֣ࣛϞᗫجܛجʿᗇՎ္၍ٙژᗫ֛Փࠈf –41– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɘᔷٰᄆࣸΣɨૢ͍ࡌಛ 1e͍ࡌᛆࠢၾ͍ࡌషܓ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎπᚃಂගdʮ̡Aٰٰୃίจஹᚃɧɤʹࡈ˚ʕϞɤʞʹࡈ˚ٙϗᆵᄆЭಂᔷٰᄆࣸٙ90%ࣛdʮ̡ԫึϞᛆ̈ᔷٰᄆࣸΣɨࣩ˙͍ࡌԨʹʮٰ̡؇ɽึᄲᙄڌӔfɪࣩ˙ࠑ̈ึࢩᙄٰٙ؇ڌܵהӔᛆٙɧʱʘɚ˸ɪஷཀ˙̙ྼ݄fٰ؇ɽึආБڌӔࣛdܵϞ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎٰٙ؇ᏐΫᒒfٙܝ͍ࡌᔷٰᄆࣸᏐʔЭ؇ٰٙࠑۃɽึ̜ක˚ۃɧɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆeۃɚɤʹࡈ˚ʮ̡Aٰٰୃʹѩᄆձۃɓʹࡈ˚ʮ̡Aٰٰୃʹѩᄆʕٙ௰৷٫f ߰ίࠑۃɧɤʹࡈ˚ʫ೯͛ཀᔷٰᄆࣸሜٙઋҖdۆίᔷٰᄆࣸሜ˚ʹٙۃ˚ܲሜٙۃᔷٰᄆࣸձϗᆵᄆࠇၑdίᔷٰᄆࣸሜ˚ʿʘʹٙܝ˚ܲሜٙܝᔷٰᄆࣸձϗᆵᄆࠇၑf 2e͍ࡌҏ νʮ̡Ӕ֛Σɨ͍ࡌᔷٰᄆࣸdʮ̡ਗ਼ίʕᗇ္ึܸ֛ٙɪ̹ʮ̡ࢹڦמᚣదɪ̊೮ᗫʮѓdʮѓ͍ࡌషܓeٰᛆ೮া˚ձᅲ৾ᔷٰಂගഃϞᗫڦࢹνცiԨ࣬ኽ࠰ಥᑌΥʹהϞࠢʮ̡ᗇՎɪ̹ۆഃجܛجʿԷί࠰ಥ̹ఙʚ˸ʮбνცfٰᛆ೮া˚ٙܝୋɓʹࡈ˚уᔷٰᄆ͍ࣸࡌ˚ৎdකܨూᔷٰ͡ሗԨੂБٙܝ͍ࡌᔷٰᄆࣸf ߰ᔷٰᄆࣸމ˚͍ࡌᔷٰ͡ሗ˚אʘܝdᔷ౬ٰ΅೮া˚ʘۃd༈ᗳᔷٰ͡ሗᏐܲٙܝ͍ࡌᔷٰᄆࣸੂБf –42– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɤᔷٰٰᅰᆽ֛˙ό˸ʿᔷٰࣛʔԑɓٰږᕘٙஈଣ፬ج ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛίᔷٰಂʫ͡ሗᔷٰࣛdᔷٰᅰඎٙࠇၑ˙όމjQ=V/PdԨ˸̘҈ج՟ɓٰٙᅰ࠴fՉʕj Q̙މᔷ౬ٰٙୃᅰඎi VމAٰ̙ᔷ౬ʮ̡වՎܵϞɛ͡ሗᔷٰٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi P͡މሗᔷٰ˚Ϟࣖٙᔷٰᄆࣸf ᔷٰࣛʔԑᔷ౬މɓٰٙAٰ̙ᔷ౬ʮ̡වՎቱᕘdʮ̡ਗ਼ܲɪऎᗇՎʹה
ഃٙژϞᗫ֛dίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰ˚ٙܝʞʹࡈ˚ʫ˸ତږг˹༈Aٰ̙ᔷ౬ʮ̡වՎቱᕘʿ༈ቱᕘה࿁ᏐٙಂᏐࠇлࢹf ɤɓᛙΫૢಛ 1eՑಂᛙΫૢಛ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎಂတܝʞʹࡈ˚ʫdʮ̡ਗ਼ᛙΫΌ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎdՈᛙΫᄆٰࣸ͟؇ɽึબᛆԫึאՉ˼બᛆɛɻ࣬ኽ೯Б̹ࣛఙઋرၾڭᑥዚ˴וቖਠਠᆽ֛f 2eϞૢᛙΫૢಛ ᔷٰಂʫdν؈ʮ̡Aٰٰୃஹᚃɧɤʹࡈ˚ʕЇˇϞɤʞʹࡈ˚ٙϗᆵᄆʔЭಂᔷٰᄆࣸٙ130%ў130%d͉אϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ͊ᔷٰቱᕘʔԑɛ͏࿆3,000ຬʩࣛdʮ̡ϞᛆӔ֛ܲවՎࠦ̋࠽ಂᏐࠇлٙࢹᄆࣸᛙΫΌאʱ͊ᔷٰٙAٰ̙ᔷ౬ʮ̡වՎf –43– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ಂᏐࠇлࠇٙࢹၑʮόމjIA=BÒiÒt/365 IAjܸಂᏐࠇлࢹi Bjܸ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎܵϞɛܵϞٙAٰ̙ᔷ౬ʮ̡වՎୃࠦᐼږᕘi ijܸAٰ̙ᔷ౬ʮ̡වՎϋୃࠦлଟi tjܸ˂ࢹࠇᅰdуɪɓ˚ࢹ˹ࡈৎЇ͉ࢹࠇϋܓᛙΫ˚˟ٙྼყ˚˂ᅰၑ᎘ʔၑ҈f ߰ίࠑۃɧɤʹࡈ˚ʫ೯͛ཀᔷٰᄆࣸሜٙઋҖdۆίᔷٰᄆࣸሜ˚ʹٙۃ˚ܲሜٙۃᔷٰᄆࣸձϗᆵᄆࠇၑdίᔷٰᄆࣸሜ˚ʿʘʹٙܝ˚ܲሜٙܝᔷٰᄆࣸձϗᆵᄆࠇၑf ɤɚΫਯૢಛ ͉߰ϣ೯БAٰ̙ᔷ౬ʮ̡වՎණ༟ږ༶ٙ͜ྼ݄ઋرၾʮ̡ίණႭࣣʕٙוፕˢ̈ତᜊʷd˲༈ᜊʷʕᗇ္ึႩ֛މҷᜊණ༟͜ږٙdAٰ̙ᔷ౬ʮ̡වՎܵϞɛԮϞɓϣ˸ࠦ̋࠽ɪಂᏐࠇлٙࢹᄆࣸΣʮ̡ΫਯՉܵϞٙΌאʱAٰ̙ᔷ౬ʮ̡වՎٙᛆлfίɪࠑઋҖɨdAٰ̙ᔷ౬ʮ̡වՎܵϞɛ̙˸ίΫਯ͡జಂʫආБΫਯdίΫਯ͡జಂʫʔྼ݄ΫਯٙdІਗఄ̰༈Ϋਯᛆf ɤɧᔷٰϋܓϞᗫٰлٙᓥ᙮ Ϊ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎᔷٰϾᄣ̋ٙʮ̡AٰٰୃԮϞၾࡡAٰٰୃΝഃٙᛆूdίٰл೯ٰٙ׳ᛆ೮া˚˚೮াί̅ٙהϞ౷ஷٰٰ؇ўΪAٰ̙ᔷ౬ʮ̡වՎᔷٰҖϓٰٙ؇ѩਞၾಂٰлʱৣdԮϞΝഃᛆूf –44– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɤ̬೯Б˙όʿ೯Б࿁ ͉ϣAٰ̙ᔷ౬ʮ̡වՎٙՈ೯Б˙όٰ͟؇ɽึબᛆԫึאՉ˼બᛆɛɻၾڭᑥዚ˴וቖਠਠᆽ֛f͉ϣAٰ̙ᔷ౬ʮ̡වՎٙ೯Б࿁ܵމϞʕᗇՎ೮াഐၑϞࠢபʮ̡ɪऎʱʮ̡ᗇՎሪ˒ٙІ್ɛeجɛeᗇՎҳ༟ਿږeୌΥܛج֛ٙՉ˼ҳ༟٫ഃܛجeجຫ˟٫ৰ̮f ɤʞΣࡡAٰٰ؇ৣਯٙτર ͉ϣ೯БഗʚࡡAٰٰ؇ᎴৣਯᛆfՈᎴৣਯᅰඎٰ͟؇ɽึબᛆԫึאՉ˼બᛆɛɻί೯Б࣬ۃኽ̹ఙઋرᆽ֛dԨί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎ೯Бʮѓʕʚ˸מᚣf༈ഃᎴৣਯਗ਼፭ςʕശɛ͏ձᗇՎجʿ࠰ಥᑌΥʹהϞࠢʮ̡ᗇՎɪ̹אۆОՉ̴္ִ݁א၍ዚٙהϞቇ͜جܛجʿԷܼ̍Ш݊ʔࠢᗫஹʹᗫٙۆձࠅӋd˙̙ໝྼf ɤʬවՎܵϞɛึᙄᗫԫධ 1eවՎܵϞɛٙᛆлၾ່ਕ
(1)වՎܵϞɛٙᛆл ǺԱՉܵהϞٙAٰ̙ᔷ౬ʮ̡වՎᅰᕘԮϞ֛ߒлࢹi ǻ࣬ኽૢ֛ߒਗ਼ܵהϞٙAٰ̙ᔷ౬ʮ̡වՎᔷމʮ̡Aٰٰ΅i Ǽ࣬ኽૢ֛ٙߒБԴΫਯᛆi ǽԱܛجeБ݁جʿʮ̡֛ٙᔷᜫeᗍၾאሯץՉܵהϞٙAٰ̙ᔷ౬ʮ̡වՎi ǾԱܛجeʮ̡֛ٙᐏϞᗫࢹڦi ǿ֛ܲٙߒಂࠢձ˙όࠅӋʮ̡Ꮅ˹Aٰ̙ᔷ౬ʮ̡වՎ͉ࢹi –45– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ȀԱܛجeБ݁جഃᗫ֛ਞၾא։ৄ˾ଣɛਞၾවՎܵϞɛึᙄԨБԴڌӔᛆi ȁܛجeБ݁جʿʮ̡הረʚٙՉЪމʮ̡වᛆɛٙՉ˼ᛆлf
(2)වՎܵϞɛ່ٙਕ Ǻ፭ςʮ̡ה೯БٙAٰ̙ᔷ౬ʮ̡වՎૢಛٙᗫ֛i ǻԱՉהႩᒅٙAٰ̙ᔷ౬ʮ̡වՎᅰᕘᖮॶႩᒅ༟ږi Ǽ፭ςවՎܵϞɛึᙄҖϓٙϞࣖӔᙄi ǽৰܛجeج֛ʿAٰ̙ᔷ౬ʮ̡වՎණႭࣣ֛ߒʘ̮dʔࠅӋʮ̡ۃᎵ˹Aٰ̙ᔷ౬ʮ̡වՎ͉ٙږձлࢹi ǾܛجeБ݁جʿʮ̡֛Ꮠ͟Aٰ̙ᔷ౬ʮ̡වՎܵϞɛוዄٙՉ˼່ਕf 2eවՎܵϞɛึᙄ̜ٙකઋҖ ί͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎπᚃಂʫd೯͛ɨΐઋҖʘɓٙdʮ̡ԫึᏐ̜ණවՎܵϞɛึᙄj
(1)ʮ̡ᏝᜊһAٰ̙ᔷ౬ʮ̡වՎණႭࣣ֛ٙߒi
(2)ʮ̡͊ঐܲಂ˕˹͉ϣAٰ̙ᔷ౬ʮ̡වՎ͉ࢹi
(3)ʮ̡೯͛ಯ༟eΥԻeʱͭe༆א٫͡ሗॎପi
(4)೯͛Չ˼࿁වՎܵϞɛᛆूϞࠠɽྼሯᅂᚤٙԫධf –46– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ʮ̡ਗ਼ίණႭࣣʕڭ֛ߒᚐවՎܵϞɛᛆлٙ፬جd˸ʿවՎܵϞɛึᙄٙᛆлeҏձӔᙄ͛ࣖૢf ɤɖ͉ϣණ༟͜ږ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎהණ༟ږᐼᕘʔ൴ཀ27ᄂʩў27ᄂʩdϔৰ೯Б൬͜ܝΌ̂͜ᐄ༶༟ږd೯˴࢝ᐄุਕdίAٰ̙ᔷ౬ʮ̡වՎܵϞɛᔷٰܝ̂༟͉ږf ɤɞዄڭԫධ ͉ϣ೯БٙAٰ̙ᔷ౬ʮ̡වՎʔԶዄڭf ɤɘණ༟ږπ၍ ʮ̡ʊͭܔʮ̡ණ༟ږ၍ଣՓܓd͉ϣ೯Бٙණ༟ږਗ਼π׳ʮ̡ԫึӔ֛ٙਖ਼ධሪ˒ʕdՈක˒ԫ֝ί೯Б͟ۃʮ̡ԫึᆽ֛f ɚɤ͉ϣӔᙄٙϞࣖಂ ͉ϣ೯БAٰ̙ᔷ౬ʮ̡වՎӔᙄٙϞࣖಂމʮٰ̡؇ɽึձᗳйٰ؇ึᄲᙄஷཀ͉ϣ೯Б˙ࣩʘ˚ৎɤɚ˜ࡈf –47– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ɧeৌਕึࢹڦࠇʿ၍ଣᄴীሞၾʱؓ ʮ̡2014ϋܓe2015ϋܓձ2016ϋܓৌਕజѓุ͑ڦʕձึࢪࠇԫਕהतࣿ౷ஷΥྫᄲࠇdԨ̈ՈəXYZH/2016BJA10669eXYZH/2017BJA10391ᅺೌڭवจԈٙᄲࠇజѓf ɓ௰ڐɧϋΥԻৌਕజڌ 1eΥԻ༟ପࠋවڌ ఊЗjʩ ༟ପ 2016ϋ12˜31˚2015ϋ12˜31˚2014ϋ12˜31˚ ༟ପj࿆༟ږՉʕj˒܄πಛഐၑ௪˹ږՉʕj˒܄௪˹ږ̈װ༟ږፄ̈༟ږ˸ʮʪᄆࠇ࠽ඎ˲Չᜊਗ ࠇɝಂฦूٙږፄ༟ପږ͛ࠃፄ༟ପ൯ɝڏਯږፄ༟ପᏐϗಛධᏐϗлࢹπ̈ڭᗇږྌʱܵމϞܙਯٙ༟ପ̙Զ̈ਯږፄ༟ପܵϞЇՑಂҳ༟ڗಂٰᛆҳ༟ҳ༟גήପո֛༟ପίܔʈೌҖ༟ପਠᚑַה༟ପՉ˼༟ପ༟ପᐼࠇ 12,090,415,132.847,720,676,538.033,096,957,086.102,353,173,197.34 –6,119,265,370.45 12,707,460,600.7710,739,355,587.374,455,615,703.223,356,888,084.19 –8,158,803,094.69 8,682,415,845.447,225,908,380.132,620,867,294.282,271,018,557.10 –7,331,517,309.15 8,037,095,626.37– 5,911,696,190.3043,496,697.92397,345,286.70490,078,050.96– 2,581,937,630.58– 370,421,607.8522,953,353.76238,033,229.014,051,439.24155,559,401.1321,466,082.83117,928,755.39685,871,695.6140,384,572,637.04 5,045,128,204.70– 6,826,689,334.4427,587,801.49257,757,840.45422,906,511.1039,428,945.46 2,443,599,475.10– 106,705,532.3321,225,064.10235,552,941.92 543,150.00155,960,703.60 7,268,756.37209,334,510.90529,680,445.7841,651,248,616.42 4,099,282,492.37– 2,889,714,967.2917,409,000.48173,998,005.45727,404,219.54–751,235,010.28–49,684,441.4023,066,429.75217,045,958.96100,000.00153,742,738.817,268,756.37104,468,520.25420,021,343.45 28,269,242,333.27 –48– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ࠋවʿٰ؇ᛆू ࠋවjಂ࠾ಛᏐ˹ಂፄ༟ಛװɝ༟ږ˸ʮʪᄆࠇ࠽ඎ˲Չᜊਗ ࠇɝಂฦूٙږፄࠋවږ͛ࠃፄࠋවር̈Ϋᒅږፄ༟ପಛ˾ଣ൯ርᗇՎಛʹ͜ڦ˾ଣ൯ርᗇՎಛ˾ଣוቖᗇՎಛᏐ˹ᔖʈᑚཇᏐʹ൬Ꮠ˹ಛධᏐ˹лࢹྌʱܵމϞܙਯٙࠋවཫࠋࠇවڗಂ࠾ಛᏐ˹වՎַࠋהවՉ˼ࠋවࠋවΥࠇٰ؇ᛆूjٰ͉༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗूޮቱʮጐɓছࠬᎈ௪ʹࠬᎈ௪͊ʱৣлᆗᓥ᙮͎ʮٰ̡؇ᛆूΥࠇˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇࠋවձٰ؇ᛆूᐼࠇ 2016ϋ12˜31˚2015ϋ12˜31˚2014ϋ12˜31˚ 661,118,923.353,809,755,009.59 400,000,000.00 –5,106,960,000.00 – –1,441,280,000.002,373,000,000.00 1,208,177,431.99131,955.20 5,607,978,821.819,426,088,091.08 942,002,264.58– 472,060,797.3296,475,098.96207,332,187.36354,923,124.12 ––55,327,275.465,494,298,598.0328,707,013.9373,427,210.8528,837,803,803.63 1,144,170,407.34– 4,712,964,571.2113,281,216,869.231,586,034,162.71 –711,032,900.34267,155,238.02152,466,664.69327,496,490.0311,695,776.24 –51,818,408.775,291,078,013.7749,157,422.6281,547,942.1832,774,794,867.15 791,073,957.93– 5,587,234,329.838,863,873,220.48 795,959,787.78– 375,914,561.22239,670,103.7392,165,449.54111,765,349.00 –––1,490,027,198.4927,836,514.57222,646,742.2622,412,447,214.83 3,923,734,700.003,842,379,808.39 –63,826,190.55697,014,082.63599,107,697.29564,870,336.92891,183,507.8810,582,116,323.66964,652,509.7511,546,768,833.4140,384,572,637.04 3,223,734,700.001,865,166,967.63 –36,261,558.91604,796,786.78531,481,680.34503,392,139.691,396,746,640.398,161,580,473.74714,873,275.538,876,453,749.2741,651,248,616.42 2,631,615,700.00504,887,745.32–26,508,007.42399,282,433.40380,771,154.53366,382,570.77 1,477,258,852.535,786,706,463.97 70,088,654.475,856,795,118.4428,269,242,333.27 –49– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ 2eΥԻлᆗڌ ఊЗjʩ ධͦ 2016ϋܓ 2015ϋܓ 2014ϋܓ ɓeᐄุϗɝ˓ᚃ൬ʿЩږଋϗɝՉʕjᗇՎุߏਕଋϗɝҳ༟ვБุਕଋϗɝҳ༟ፔ༔ุਕଋϗɝ༟ପ၍ଣุਕଋϗɝਿږ၍ଣุਕଋϗɝлࢹଋϗɝҳ༟ϗूฦ̰˸-෬ΐՉʕj࿁ᑌᐄΆุձΥᐄΆุٙ ҳ༟ϗूʮʪᄆ࠽ᜊਗϗूฦ̰˸-෬ΐිгϗूฦ̰˸-෬ΐՉ˼ุਕϗɝɚeᐄุ˕̈ږʿ̋ڝุਕʿ၍ଣ൬༟ପಯ࠽ฦ̰Չ˼ุਕϓ͉ɧeᐄุлᆗ̋jᐄุ̮ϗɝಯjᐄุ̮˕̈̋jܵϞܙਯɿʮ̡лᆗᐼᕘ̬eлᆗᐼᕘಯjה൬͜ʞeଋлᆗᓥ᙮͎ʮ̡הϞ٫ٙଋлᆗˇᅰٰ؇ฦू 2,026,810,960.791,259,619,100.49 715,338,829.85304,410,665.01123,506,393.8463,173,935.35 3,506,499.60318,306,944.02477,944,617.68 12,706,868.44 -60,751,105.21-3,442,833.2135,134,237.021,067,838,746.8357,418,589.521,009,437,684.55-27,005,101.4827,987,574.24958,972,213.9639,621,993.236,064,619.74-17,962,957.50974,566,629.95227,841,848.25746,724,781.70718,646,243.1128,078,538.59 4,004,355,251.902,716,354,159.222,128,093,353.37 209,363,864.17285,424,405.6753,079,392.97 554,972.67561,575,861.59599,018,351.30 1,725,476.63 56,061,634.0662,062,152.539,283,093.202,093,232,661.80255,484,062.301,709,009,930.66127,631,057.071,107,611.771,911,122,590.1021,225,594.036,957,329.28-34,421,696.141,890,969,158.71488,588,592.721,402,380,565.991,405,500,406.97-3,119,840.98 1,808,216,779.121,072,655,213.61 794,863,348.77100,757,994.55130,642,404.47 9,106,315.59403,163.07 274,986,314.16376,441,950.15 -315,558.60 73,245,007.163,529,031.517,359,262.531,078,677,482.41103,517,886.25946,477,300.2827,716,089.32 966,206.56729,539,296.7132,364,428.98 7,132,217.08– 754,771,508.61204,788,774.47549,982,734.14562,290,151.78-12,307,417.64 –50– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ධͦ ʬeՉ˼ၝΥϗूٙܝଋᕘɓ˸ܝʔঐࠠʱᗳආฦूٙՉ ˼ၝΥϗू
1.ࠠอࠇඎண֛աूࠇྌଋࠋ වאଋ༟ପٙᜊਗ
2.ᛆूجɨίҳ༟ఊЗʔঐ ࠠʱᗳආฦूٙՉ˼ၝΥϗूʕԮϞٙ΅ᕘɚ˸ܝਗ਼ࠠʱᗳආฦूٙՉ˼ၝΥϗू
1.ᛆूجɨίҳ༟ఊЗ˸ܝਗ਼ࠠʱᗳආฦूٙՉ˼ၝΥϗूʕԮϞٙ΅ᕘ
2.̙Զ̈ਯږፄ༟ପʮʪᄆ࠽ᜊਗฦू
3.ܵϞЇՑಂҳ༟ࠠʱᗳ̙މԶ̈ਯږፄ༟ପฦू
4.ତݴږࢁಂฦूٙϞࣖʱ
5.̮࿆ৌਕజڌұၑࢨᕘɖeၝΥϗूᐼᕘᓥ᙮͎ʮٰ̡؇ٙၝΥϗूᐼᕘᓥ᙮ˇᅰٰ؇ٙၝΥϗूᐼᕘɞeӊٰϗूɓਿ͉ӊٰϗूɚᙑӊٰϗू 2016ϋܓ33,449,696.04 –– –33,449,696.04 –6,168,845.75 ––27,280,850.29780,174,477.74746,210,874.7533,963,602.990.220.22 2015ϋܓ11,475,235.64 –– –11,475,235.64 –5,679,745.67 ––5,795,489.971,413,855,801.631,415,253,958.46-1,398,156.830.490.49 2014ϋܓ30,326,501.00 –– –30,326,501.00 –30,326,501.00 –––580,309,235.14592,616,652.78-12,307,417.640.240.24 –51– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ 3eΥԻତݴږඎڌ ఊЗjʩ ධͦ 2016ϋܓ 2015ϋܓ 2014ϋܓ ɓeᐄݺਗପ͛ٙତݴږඎjஈໄ˸ʮʪᄆࠇ࠽ඎ˲Չᜊਗࠇɝ ಂฦूٙږፄ༟ପଋᄣ̋ᕘϗ՟лࢹe˓ᚃ൬ʿЩٙږତږװɝ༟ږଋᄣ̋ᕘΫᒅุਕ༟ږଋᄣ̋ᕘፄ̈༟ږଋಯˇᕘ˾ଣ൯ርᗇՎϗՑٙତږଋᕘϗՑٙՉ˼ၾᐄݺਗϞᗫٙତږᐄݺਗତݴږɝʃࠇஈໄ˸ʮʪᄆࠇ࠽ඎ˲Չᜊਗࠇɝ ಂฦूٙږፄ༟ପଋಯˇᕘװɝ༟ږଋಯˇᕘΫᒅุਕ༟ږଋಯˇᕘፄ̈༟ږଋᄣ̋ᕘ˾ଣ൯ርᗇՎ˕˹ٙତږଋᕘ˕˹лࢹe˓ᚃ൬ʿЩٙږତږ˕˹ഗᔖʈ˸ʿމᔖʈ˕˹ٙତږ˕˹ٙධ൬˕˹ٙՉ˼ၾᐄݺਗϞᗫٙତږᐄݺਗତ̈ݴږʃࠇᐄݺਗପ͛ٙତݴږඎଋᕘɚeҳ༟ݺਗପ͛ٙତݴږඎjϗΫҳ༟ϗՑٙତږ՟ҳ༟ϗूϗՑٙତږஈໄɿʮ̡ʿՉ˼ᐄุఊЗ ϗՑٙତږଋᕘϗՑՉ˼ၾҳ༟ݺਗϞᗫٙତږҳ༟ݺਗତݴږɝʃࠇ –2,248,941,692.88 400,000,000.001,897,800,233.232,035,131,099.49 –327,240,285.446,909,113,311.04 2,476,003,106.91––– 4,499,160,676.28315,644,037.60950,258,167.20583,123,607.72786,914,139.38 9,611,103,735.09-2,701,990,424.05 –58,854,693.11 43,877,593.482,842,141.18105,574,427.77 –4,376,472,945.35 –––5,207,408,247.63889,889,915.9510,473,771,108.93 340,561,399.392,373,000,000.004,591,805,624.81 826,850,479.80– 747,949,451.621,060,272,767.63 695,208,790.43900,263,888.5511,535,912,402.23-1,062,141,293.30 –74,850,323.19 –591,592.6075,441,915.79 –1,703,680,477.161,973,000,000.001,358,062,836.15 –4,665,762,485.54 169,731,992.979,870,237,791.82 167,724,502.36–– 5,082,571,990.27– 224,164,643.67515,699,389.36257,861,277.21976,845,378.627,224,867,181.492,645,370,610.33 83,000,000.0036,443,070.09 –501,430.63119,944,500.72 –52– ڝɚ ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ධͦ 2016ϋܓ 2015ϋܓ 2014ϋܓ ҳ༟˕˹ٙତږᒅܔո֛༟ପeೌҖ༟ପձՉ˼ڗ ಂ༟ପ˕˹ٙତږ՟ɿʮ̡ʿՉ˼ᐄุఊЗ˕˹ٙ ତږଋᕘ˕˹Չ˼ၾҳ༟ݺਗϞᗫٙତږҳ༟ݺਗତ̈ݴږʃࠇҳ༟ݺਗପ͛ٙତݴږඎଋᕘɧeᘪ༟ݺਗପ͛ٙତݴږඎjіϗҳ༟ϗՑٙତږՉʕjɿʮ̡іϗˇᅰٰ؇ҳ༟ ϗՑٙତږ՟࠾ಛהϗՑٙତږ೯БවՎϗՑٙତږϗՑՉ˼ၾᘪ༟ݺਗϞᗫٙତږᘪ༟ݺਗତݴږɝʃࠇᎵᒔවਕ˕˹ٙତږʱৣٰлeлᆗאᎵ˹лٙ˹˕ࢹ ତږՉʕjɿʮ̡˕˹ഗˇᅰٰ؇ٙ ٰлeлᆗ˕˹Չ˼ၾᘪ༟ݺਗϞᗫٙତږᘪ༟ݺਗତ̈ݴږʃࠇᘪ༟ݺਗପ͛ٙତݴږඎଋᕘ̬eිଟᜊਗ࿁ତږʿତږഃᄆي ٙᅂᚤʞeତږʿତږഃᄆيଋᄣ̋ᕘ̋jಂڋତږʿତږഃᄆيቱᕘʬeಂ͋ତږʿତږഃᄆيቱᕘ 186,017,665.63 92,276,469.83 14,616,100.12– 292,910,235.58-187,335,807.81 2,906,257,373.49 236,445,631.07664,627,790.044,013,245,593.85 –7,584,130,757.385,107,230,000.00 1,559,835,777.36 15,837,669.90– 6,667,065,777.36917,064,980.02 -3,442,833.21-1,975,704,085.0517,163,076,303.9915,187,372,218.94 1,842,205,732.47 92,125,002.56 ––1,934,330,735.03-1,858,888,819.24 2,441,880,999.89 670,792,000.0051,818,408.7714,043,482,000.00 –16,537,181,408.666,579,480,000.00 1,238,940,284.38 ––7,818,420,284.388,718,761,124.28 62,062,152.535,859,793,164.2711,303,283,139.7217,163,076,303.99 383,510,055.57 51,703,903.63 ––435,213,959.20-315,269,458.48 1,259,448,654.27 ––6,333,280,000.00–7,592,728,654.274,200,000,000.00 52,770,120.89 –8,317,327.004,261,087,447.893,331,641,206.38 3,529,031.515,665,271,389.745,638,011,749.9811,303,283,139.72 –53– –54– 4eΥԻהϞ٫ᛆूᜊਗڌ(1)2016ϋܓΥԻᛆूᜊਗڌ ᓥ᙮͎ʮٰ̡؇ᛆू ධͦ ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ ɓeɪϋϋ͋ቱᕘ̋jึ݁ࠇഄᜊһۃಂࢨ፹һ͍Չ˼ɚe͉ϋϋڋቱᕘɧe͉ϋᄣಯᜊਗږᕘɓଋлᆗɚՉ˼ၝΥϗूɪࠑɓձɚʃࠇɧٰ؇ҳɝձಯˇ༟͉1eٰ؇ҳɝ༟͉2eٰ΅˕˹ࠇɝٰ؇ᛆूٙږᕘ3eၾˇᅰٰ؇ٙᛆूʹ4eՉ˼ 3,223,734,700.00––– 3,223,734,700.00700,000,000.00 –––700,000,000.00700,000,000.00––– 1,865,166,967.63––– 1,865,166,967.631,977,212,840.76 –––1,969,811,742.421,969,811,742.42––– –36,261,558.91604,796,786.78531,481,680.34503,392,139.691,396,746,640.39 – – – – – – – – – – – – – – – – – – –36,261,558.91604,796,786.78531,481,680.34503,392,139.691,396,746,640.39 –27,564,631.6492,217,295.8567,626,016.9561,478,197.23-505,563,132.51 – – – – –718,646,243.11 –27,564,631.64 – – – – –27,564,631.64 – – –718,646,243.11 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – ఊЗjʩ Չ˼
ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ –714,873,275.538,876,453,749.27 – – – – – – – – – –714,873,275.538,876,453,749.27 –249,779,234.222,670,315,084.14 –28,078,538.59746,724,781.70 –5,885,064.4033,449,696.04 –33,963,602.99780,174,477.74 –236,445,631.072,906,257,373.49 –236,445,631.072,906,257,373.49 – – – – – – – – – ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –55– ධͦ ̬лᆗʱৣ1e՟ޮቱʮጐ2e՟ɓছࠬᎈ௪3e՟ʹࠬᎈ௪ږ4e࿁ٰ؇ٙʱৣ5eՉ˼ʞٰ؇ᛆूʫഐᔷ1e༟͉ʮጐᔷᄣ༟͉2eޮቱʮጐᔷᄣ༟͉3eޮቱʮጐᏎᑦฦ4eՉ˼ʬਖ਼ධᎷ௪
1.͉ϋ՟
2.͉ϋԴ͜ɖՉ˼̬e͉ϋϋ͋ቱᕘ ᓥ᙮͎ʮٰ̡؇ᛆू ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ –––––––––––––––3,923,734,700.00 ––––––––––––––7,401,098.343,842,379,808.39 – –92,217,295.8567,626,016.9561,478,197.23-1,220,679,267.03 – –92,217,295.85 – –-92,217,295.85 – – –67,626,016.95 –-67,626,016.95 – – – –61,478,197.23-61,478,197.23 – – – – –-999,357,757.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –
-3,530,108.59 –63,826,190.55697,014,082.63599,107,697.29564,870,336.92891,183,507.88 Չ˼ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ –-15,837,669.90-1,015,195,426.90 – – – – – – – – – –-15,837,669.90-1,015,195,426.90 – – – – – – – – – – – – – – – – – – – – – – – – – – – –
-4,792,329.94-921,340.19 –964,652,509.7511,546,768,833.41 ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –56– (2)2015ϋܓΥԻᛆूᜊਗڌ ᓥ᙮͎ʮٰ̡؇ᛆू ධͦ ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ ɓeɪϋϋ͋ቱᕘ̋jึ݁ࠇഄᜊһۃಂࢨ፹һ͍Չ˼ɚe͉ϋϋڋቱᕘɧe͉ϋᄣಯᜊਗږᕘɓଋлᆗɚՉ˼ၝΥϗूɪࠑɓձɚʃࠇɧٰ؇ҳɝձಯˇ༟͉1eٰ؇ҳɝ༟͉2eٰ΅˕˹ࠇɝٰ؇ᛆूٙږᕘ3eၾˇᅰٰ؇ٙᛆूʹ4eՉ˼ 2,631,615,700.00––– 2,631,615,700.00592,119,000.00 –––592,119,000.00592,119,000.00––– 504,887,745.32––– 504,887,745.321,360,279,222.31 –––1,360,279,222.311,360,279,222.31––– –26,508,007.42399,282,433.40380,771,154.53366,382,570.771,477,258,852.53 – – – – – – – – – – – – – – – – – – –26,508,007.42399,282,433.40380,771,154.53366,382,570.771,477,258,852.53 –9,753,551.49205,514,353.38150,710,525.81137,009,568.92-80,512,212.14 – – – – –1,405,500,406.97 –9,753,551.49 – – – – –9,753,551.49 – – –1,405,500,406.97 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – ఊЗjʩ Չ˼
ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ –70,088,654.475,856,795,118.44 – – – – – – – – – –70,088,654.475,856,795,118.44 –644,784,621.063,019,658,630.83 –-3,119,840.981,402,380,565.99 –1,721,684.1511,475,235.64 –-1,398,156.831,413,855,801.63 –670,792,000.002,623,190,222.31 –670,792,000.002,623,190,222.31 – – – – – – – – – ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –57– ධͦ ̬лᆗʱৣ1e՟ޮቱʮጐ2e՟ɓছࠬᎈ௪3e՟ʹࠬᎈ௪ږ4e࿁ٰ؇ٙʱৣ5eՉ˼ʞٰ؇ᛆूʫഐᔷ1e༟͉ʮጐᔷᄣ༟͉2eޮቱʮጐᔷᄣ༟͉3eޮቱʮጐᏎᑦฦ4eՉ˼ʬਖ਼ධᎷ௪
1.͉ϋ՟
2.͉ϋԴ͜ɖՉ˼̬e͉ϋϋ͋ቱᕘ ᓥ᙮͎ʮٰ̡؇ᛆू ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ –––––––––––––––3,223,734,700.00 –––––––––––––––1,865,166,967.63 – –205,514,353.38150,710,525.81137,009,568.92-1,486,012,619.11 – –205,514,353.38 – –-205,514,353.38 – – –150,710,525.81 –-150,710,525.81 – – – –137,009,568.92-137,009,568.92 – – – – –-992,778,171.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –
36,261,558.91604,796,786.78531,481,680.34503,392,139.691,396,746,640.39 Չ˼ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ – –-992,778,171.00 – – – – – – – – – – –-992,778,171.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – –
-24,609,222.11-24,609,222.11 –714,873,275.538,876,453,749.27 ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –58– (3)2014ϋܓΥԻᛆूᜊਗڌ ᓥ᙮͎ʮٰ̡؇ᛆू ධͦ ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ ɓeɪϋϋ͋ቱᕘ̋jึ݁ࠇഄᜊһۃಂࢨ፹һ͍Չ˼ɚe͉ϋϋڋቱᕘɧe͉ϋᄣಯᜊਗږᕘɓଋлᆗɚՉ˼ၝΥϗूɪࠑɓձɚʃࠇɧٰ؇ҳɝձಯˇ༟͉1eٰ؇ҳɝ༟͉2eٰ΅˕˹ࠇɝٰ؇ᛆूٙږᕘ3eၾˇᅰٰ؇ٙᛆूʹ4eՉ˼ 2,033,515,700.00––– 2,033,515,700.00598,100,000.00 –––598,100,000.00598,100,000.00––– 239,091.05––– 239,091.05504,648,654.27 –––504,648,654.27504,648,654.27––– –-3,818,493.58314,844,251.79317,352,317.96310,090,449.691,119,117,840.01 – – – – – – – – – – – – – – – – – – –-3,818,493.58314,844,251.79317,352,317.96310,090,449.691,119,117,840.01 –30,326,501.0084,438,181.6163,418,836.5756,292,121.08358,141,012.52 – – – – –562,290,151.78 –30,326,501.00 – – – – –30,326,501.00 – – –562,290,151.78 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – ఊЗjʩ Չ˼
ˇᅰٰ؇ᛆूٰ؇ᛆूΥࠇ –83,940,165.604,175,281,322.52 – – – – – – – – – –83,940,165.604,175,281,322.52 –-13,851,511.131,681,513,795.92 –-12,307,417.64549,982,734.14 – –30,326,501.00 –-12,307,417.64580,309,235.14 – –1,102,748,654.27 – –1,102,748,654.27 – – – – – – – – – ʮක೯БAٰ̙ᔷ౬ʮ̡වՎཫࣩ ڝɚ –59– ධͦ ̬лᆗʱৣ1e՟ޮቱʮጐ2e՟ɓছࠬᎈ௪3e՟ʹࠬᎈ௪ږ4e࿁ٰ؇ٙʱৣ5eՉ˼ʞٰ؇ᛆूʫഐᔷ1e༟͉ʮጐᔷᄣ༟͉2eޮቱʮጐᔷᄣ༟͉3eޮቱʮጐᏎᑦฦ4eՉ˼ʬਖ਼ධᎷ௪
1.͉ϋ՟
2.͉ϋԴ͜ɖՉ˼̬e͉ϋϋ͋ቱᕘ ᓥ᙮͎ʮٰ̡؇ᛆू ٰ͉ ༟͉ʮጐಯjࢫπٰՉ˼ၝΥϗू ޮቱʮጐɓছࠬᎈ௪ʹږࠬᎈ௪͊ʱৣлᆗ –––––––––––––––2,631,615,700.00 –
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