{"id":605299,"date":"2025-11-21T05:38:47","date_gmt":"2025-11-21T13:38:47","guid":{"rendered":"https:\/\/nai500.com\/?p=605299"},"modified":"2025-11-21T05:38:47","modified_gmt":"2025-11-21T13:38:47","slug":"10-14","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2025\/11\/10-14\/","title":{"rendered":"10 \u652f\u6709\u671b\u4ece\u623f\u5730\u4ea7\u91cd\u7f6e\u4e2d\u53d7\u76ca\u7684\u4e2d\u56fd\u80a1\u7968"},"content":{"rendered":"

\u5317\u4eac\u6b63\u5728\u51c6\u5907\u65b0\u4e00\u8f6e\u623f\u5730\u4ea7\u652f\u6301\u63aa\u65bd\uff0c\u5b98\u5458\u4eec\u6b63\u5728\u6743\u8861\u5168\u56fd\u6027\u7684\u6309\u63ed\u8865\u8d34\u3001\u501f\u6b3e\u4eba\u7a0e\u6536\u8fd4\u8fd8\u4ee5\u53ca\u964d\u4f4e\u4ea4\u6613\u6210\u672c\u3002\u653f\u7b56\u610f\u56fe\u660e\u786e\uff1a\u7a33\u5b9a\u4f4f\u623f\u5e02\u573a\u3001\u758f\u901a\u4ea4\u6613\u5e76\u91cd\u5efa\u4fe1\u5fc3\uff0c\u540c\u65f6\u6291\u5236\u6295\u673a\u3002\u90a3\u79cd\u6709\u9488\u5bf9\u6027\u7684\u91cd\u542f\u4e0d\u4ec5\u80fd\u963b\u6b62\u4e0b\u6ed1\uff0c\u8fd8\u80fd\u89e3\u9501\u66f4\u5e7f\u6cdb\u7684\u56fd\u5185\u9700\u6c42\u91cd\u7f6e\uff0c\u5728 2025 \u5e74\u6765\u4e34\u4e4b\u9645\u63d0\u632f\u94f6\u884c\u3001\u6d88\u8d39\u5e73\u53f0\u548c\u4e2d\u56fd\u7684\u7eff\u8272\u4ea7\u4e1a\u7fa4\u3002\u6b63\u5982 Morningstar \u7684 Jeff Zhang \u6240\u8bf4\uff0c\u964d\u4f4e\u7a0e\u8d39\u5e94\u4f1a\u9002\u5ea6\u63a8\u52a8\u8d2d\u623f\u6d3b\u52a8\uff0c\u968f\u7740\u4ef7\u683c\u7a33\u5b9a\u4fe1\u5fc3\u4f1a\u589e\u5f3a\u3002\u8fd9\u4e00\u683c\u5c40\u652f\u6301\u6218\u672f\u6027\u8f6e\u52a8\u5230\u90a3\u4e9b\u80fd\u5c06\u653f\u7b56\u660e\u786e\u6027\u8f6c\u5316\u4e3a\u76c8\u5229\u6760\u6746\u7684\u9ad8\u8d28\u91cf\u4e2d\u56fd\u9f99\u5934\u516c\u53f8\u3002<\/p>\n

\u5e26\u6709\u4e2d\u56fd\u7279\u8272\u7684\u653f\u7b56\u8f6c\u5411<\/h3>\n

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\u8fd9\u5bf9\u4fe1\u8d37\u3001\u94f6\u884c\u4e0e\u4fe1\u5fc3\u4e3a\u4f55\u91cd\u8981<\/h3>\n

\u8584\u5f31\u7684\u73af\u8282\u662f\u4fe1\u5fc3\u4e0e\u73b0\u91d1\u6d41\uff0c\u800c\u4e0d\u662f\u4fe1\u8d37\u7684\u7ba1\u9053\u3002\u5bb6\u5ead\u53bb\u6760\u6746\u548c\u75b2\u5f31\u7684\u4ef7\u683c\u9884\u671f\u5373\u4fbf\u5728\u5229\u7387\u4e0b\u964d\u65f6\u4e5f\u8ba9\u4e70\u5bb6\u6309\u5175\u4e0d\u52a8\u3002\u6309\u63ed\u8865\u8d34\u548c\u964d\u4f4e\u4ea4\u6613\u6469\u64e6\u76f4\u63a5\u9488\u5bf9\u8fd9\u4e00\u884c\u4e3a\u6027\u7f3a\u53e3\u3002\u8fd9\u5bf9\u5927\u578b\u56fd\u6709\u63a7\u80a1\u94f6\u884c\u5c24\u5176\u6709\u5229\u3002ICBC\uff08Industrial and Commercial Bank of China\uff09\uff0c\u5373\u6309\u8d44\u4ea7\u8ba1\u7b97\u7684\u5168\u7403\u6700\u5927\u94f6\u884c\uff0c\u5728\u8fc7\u53bb 12 \u4e2a\u6708\u91cc\u5b9e\u73b0\u4e86\u5927\u7ea6 510 \u4ebf\u7f8e\u5143\u7684\u51c0\u5229\u6da6\uff0c\u4e3a\u5438\u6536\u5468\u671f\u6027\u6ce2\u52a8\u548c\u4e3a\u7ae3\u5de5\u63d0\u4f9b\u8d44\u91d1\u63d0\u4f9b\u4e86\u5145\u8db3\u7f13\u51b2\u3002Fitch \u8b66\u544a\u79f0\u5982\u679c\u623f\u5730\u4ea7\u95ee\u9898\u62d6\u5165\u660e\u5e74\u5c06\u7ed9\u8d44\u4ea7\u8d28\u91cf\u5e26\u6765\u538b\u529b\uff0c\u4f46\u4f53\u7cfb\u7684\u62e8\u5907\u3001\u653f\u7b56\u540e\u76fe\u4ee5\u53ca\u6765\u81ea\u652f\u4ed8\u548c\u8d22\u5bcc\u4ea7\u54c1\u65e5\u76ca\u589e\u957f\u7684\u624b\u7eed\u8d39\u6536\u5165\u521b\u9020\u4e86\u97e7\u6027\u3002\u5982\u679c\u6309\u63ed\u63d0\u524d\u8fd8\u6b3e\u653e\u7f13\u4e14\u65b0\u653e\u6b3e\u7a33\u5b9a\uff0c\u51c0\u606f\u5dee\u53ef\u4ee5\u4f01\u7a33\u3002\u8fd9\u662f\u94f6\u884c\u76c8\u5229\u53ef\u6301\u7eed\u6027\u7684\u6838\u5fc3\u591a\u5934\u8bba\u70b9\uff0c\u968f\u7740\u4ea4\u6613\u91cf\u6b63\u5e38\u5316\u76c8\u5229\u80fd\u591f\u53d7\u76ca\u3002<\/p>\n

\u5b8f\u89c2\u9a71\u52a8\u4e0e\u5168\u7403\u6ea2\u51fa\u6548\u5e94<\/h3>\n

\u4f4f\u623f\u91cd\u7f6e\u4e0e\u6301\u7eed\u7684\u5236\u9020\u4e1a\u8d44\u672c\u652f\u51fa\u76f8\u914d\u5408\uff0c\u5c06\u5f3a\u5316\u4e2d\u56fd\u5728\u7535\u52a8\u6c7d\u8f66\u3001\u7535\u6c60\u548c\u592a\u9633\u80fd\u65b9\u9762\u7684\u6bd4\u8f83\u4f18\u52bf\u3002\u8fd9\u5f88\u91cd\u8981\uff0c\u56e0\u4e3a\u65b0\u7684\u51fa\u53e3\u4e09\u9a7e\u9a6c\u8f66\u53ef\u4e3a\u5168\u7403\u5e26\u6765\u901a\u7f29\u4e0e\u80fd\u6e90\u5b89\u5168\u3002BYD \u5728\u6b27\u6d32\u7684\u6269\u5f20\u548c CATL \u5bf9\u7535\u7f51\u50a8\u80fd\u7684\u63a8\u8fdb\u663e\u793a\u51fa\u56fd\u5185\u653f\u7b56\u660e\u786e\u6027\u5982\u4f55\u91ca\u653e\u6d77\u5916\u66f4\u9ad8\u4ef7\u503c\u7684\u6536\u5165\u3002\u623f\u5730\u4ea7\u6295\u8d44\u7a33\u5b9a\u4e5f\u652f\u6491\u4e0a\u6e38\u5bf9\u6c34\u6ce5\u3001\u94a2\u94c1\u4e0e\u5bb6\u7535\u7684\u9700\u6c42\uff0c\u800c\u7535\u7f51\u548c\u6838\u7535\u7684\u5efa\u8bbe\u5219\u4fdd\u6301\u5de5\u5382\u7528\u7535\u7684\u53ef\u9760\u6027\u4e0e\u4f4e\u6210\u672c\u3002\u5bf9\u4e8e\u90a3\u4e9b\u5bf9\u4e2d\u56fd\u8fdb\u53e3\u9700\u6c42\u4e0e\u4f9b\u5e94\u94fe\u8ba2\u5355\u654f\u611f\u7684\u65b0\u5174\u5e02\u573a\u800c\u8a00\uff0c\u56fd\u5185\u4e0b\u9650\u53ef\u63a8\u52a8\u540c\u6b65\u590d\u82cf\u3002\u968f\u7740\u91cd\u70b9\u57ce\u5e02\u4ea4\u6613\u6570\u636e\u597d\u8f6c\uff0c\u9884\u8ba1\u5728\u6d77\u8fd0\u8fd0\u4ef7\u3001\u94dc\u6750\u8ba2\u5355\u548c\u4e1c\u5357\u4e9a\u96f6\u90e8\u4ef6\u51fa\u8d27\u91cf\u4e0a\u80fd\u770b\u5230\u53ef\u89c1\u5ea6\u63d0\u5347\u3002<\/p>\n

\u5728\u653f\u7b56\u5468\u671f\u4e2d\u5e94\u4e70\u5165\u4ec0\u4e48<\/h3>\n

\u4ed3\u4f4d\u8bbe\u7f6e\u5f88\u76f4\u63a5\u3002\u503e\u659c\u4e8e\u80fd\u4ece\u4ea4\u6613\u91cf\u4e2d\u83b7\u5f97\u7ecf\u8425\u6760\u6746\u7684\u5927\u578b\u94f6\u884c\uff0c\u4f9d\u8d56\u6d88\u8d39\u6062\u590d\u7684\u4e92\u8054\u7f51\u5e73\u53f0\uff08\u5e7f\u544a\u4e0e\u652f\u4ed8\u5468\u671f\uff09\uff0c\u4ee5\u53ca\u65e0\u8bba\u56fd\u5185\u98ce\u58f0\u5982\u4f55\u4ecd\u6301\u7eed\u83b7\u53d6\u5168\u7403\u4efd\u989d\u7684\u7535\u6c14\u5316\u9f99\u5934\u3002\u9009\u62e9\u6027\u914d\u7f6e\u90a3\u4e9b\u901a\u8fc7\u7ae3\u5de5\u53d8\u73b0\u800c\u975e\u65b0\u5f00\u5de5\u53d8\u73b0\u7684\u5efa\u6750\u548c\u5bb6\u7535\u516c\u53f8\u3002\u7ecf\u8fc7\u4e24\u5e74\u4f30\u503c\u538b\u7f29\u540e\uff0c\u8bb8\u591a\u6b64\u7c7b\u6807\u7684\u7684\u4f30\u503c\u4f9d\u7136\u5177\u6709\u652f\u6491\uff0c\u4e14\u66f4\u6e05\u6670\u7684\u653f\u7b56\u8def\u5f84\u662f\u5916\u8d44\u4e00\u76f4\u5728\u7b49\u5f85\u7684\u50ac\u5316\u5242\u3002\u5f53\u523a\u6fc0\u5177\u6709\u9488\u5bf9\u6027\u3001\u6267\u884c\u53ef\u4fe1\u4e14\u76c8\u5229\u4fee\u6b63\u6709\u56de\u5347\u7a7a\u95f4\u65f6\uff0c\u98ce\u9669\u6536\u76ca\u6bd4\u5f88\u6709\u5438\u5f15\u529b\u3002<\/p>\n

\u76ee\u524d\u503c\u5f97\u5173\u6ce8\u7684\u5341\u5927\u4e2d\u56fd\u80a1\u7968<\/h3>\n

1) BYD Company (1211.HK, 002594.SZ)\uff1a\u5168\u7403\u6700\u5927\u7684\u63d2\u7535\u5f0f\u6c7d\u8f66\u5236\u9020\u5546\uff0c2024 \u5e74\u9500\u552e\u989d\u7ea6\u4e3a 1,000 \u4ebf\u7f8e\u5143\uff0c\u4e14\u5728\u5168\u7403\u63d2\u7535\u5f0f\u9500\u91cf\u4e0a\u5df2\u8d85\u8d8a Tesla\u3002\u5308\u7259\u5229\u5de5\u5382\u4e3a\u6b27\u76df\u751f\u4ea7\u63d0\u4f9b\u652f\u6491\uff0c\u800c\u50cf YangWang U8 \u8fd9\u6837\u7684\u9ad8\u7aef\u6280\u672f\u4f53\u73b0\u4e86\u5b9a\u4ef7\u80fd\u529b\u3002\u5168\u7403\u5f71\u54cd\u63d0\u793a\uff1a\u5728\u65b0\u5174\u5e02\u573a\u52a0\u901f EV \u53ef\u8d1f\u62c5\u6027\u6709\u52a9\u4e8e\u80fd\u6e90\u8f6c\u578b\u7684\u91c7\u7eb3\u3002<\/p>\n

2) Contemporary Amperex Technology, CATL (300750.SZ)\uff1a\u5728 LFP \u5316\u5b66\u4f53\u7cfb\u548c\u7535\u7f51\u50a8\u80fd\u51fa\u8d27\u4e0a\u62e5\u6709\u89c4\u6a21\u4f18\u52bf\u7684\u5168\u7403\u7535\u52a8\u6c7d\u8f66\u7535\u6c60\u9886\u519b\u8005\u3002\u968f\u7740\u6309\u63ed\u6551\u52a9\u7a33\u56fa\u56fd\u5185\u9700\u6c42\uff0c\u7535\u529b\u50a8\u80fd\u8ba2\u5355\u5c06\u53d7\u76ca\u4e8e\u7535\u7f51\u6295\u8d44\u3002\u5168\u7403\u5f71\u54cd\u63d0\u793a\uff1a\u964d\u4f4e\u5168\u7403\u53ef\u518d\u751f\u80fd\u6e90\u5e76\u7f51\u7684\u50a8\u80fd\u6210\u672c\u3002<\/p>\n

3) Tencent Holdings (0700.HK)\uff1a\u968f\u7740\u6d88\u8d39\u8005\u4fe1\u5fc3\u4fee\u590d\uff0c\u4e2d\u56fd\u7684\u8d85\u7ea7\u5e94\u7528\u751f\u6001\u5411\u652f\u4ed8\u3001\u5e7f\u544a\u548c\u4e91\u670d\u52a1\u503e\u659c\u3002\u5b83\u662f\u5168\u7403\u6700\u5927\u7684\u89c6\u9891\u6e38\u620f\u9500\u552e\u5546\uff0c\u5e76\u5728 2018 \u5e74\u6210\u4e3a\u9996\u5bb6\u5e02\u503c\u7a81\u7834 5,000 \u4ebf\u7f8e\u5143\u7684\u4e9a\u6d32\u79d1\u6280\u516c\u53f8\u3002\u5168\u7403\u5f71\u54cd\u63d0\u793a\uff1a\u8d2f\u7a7f\u4e9a\u6d32\u7684\u8de8\u5883\u6e38\u620f IP \u4e0e\u91d1\u878d\u79d1\u6280\u57fa\u7840\u8bbe\u65bd\u3002<\/p>\n

4) Alibaba Group (BABA, 9988.HK)\uff1a\u53cc\u5341\u4e00\u4f9d\u7136\u662f\u4e00\u4e2a\u8fdc\u8d85\u897f\u65b9\u8d2d\u7269\u8282\u7684\u6d88\u8d39\u6674\u96e8\u8868\u3002\u623f\u5730\u4ea7\u4ea4\u6613\u56de\u5347\u901a\u5e38\u5148\u4e8e\u5bb6\u5177\u548c\u7535\u5b50\u4ea7\u54c1\u7684\u6d88\u8d39\uff0c\u4ece\u800c\u652f\u6491\u5e73\u53f0 GMV \u4e0e\u5e7f\u544a\u6536\u5165\u3002\u5168\u7403\u5f71\u54cd\u63d0\u793a\uff1aAlibaba Cloud \u5411\u4e1c\u5357\u4e9a\u5546\u5bb6\u6269\u5c55 AI \u670d\u52a1\u3002<\/p>\n

5) Pinduoduo Holdings, \u5305\u62ec Temu (PDD)\uff1a\u5728\u4f4e\u7ebf\u57ce\u5e02\u7684\u793e\u4ea4\u7535\u5546\u6e17\u900f\u5c06\u53d7\u76ca\u4e8e\u6709\u9488\u5bf9\u6027\u7684\u8d22\u653f\u652f\u6301\u548c\u66f4\u4f4e\u7684\u501f\u6b3e\u6210\u672c\u3002\u5168\u7403\u5f71\u54cd\u63d0\u793a\uff1aTemu \u7684\u56fd\u9645\u6269\u5f20\u6b63\u5728\u4e3a\u4e2d\u56fd\u4e2d\u5c0f\u4f01\u4e1a\u91cd\u65b0\u5b9a\u4e49\u4ef7\u683c\u53d1\u73b0\u4e0e\u4f9b\u5e94\u94fe\u8986\u76d6\u3002<\/p>\n

6) Industrial and Commercial Bank of China, ICBC (1398.HK, 601398.SS)\uff1a\u6309\u63ed\u53d1\u653e\u4e0e\u9879\u76ee\u878d\u8d44\u7684\u4f53\u7cfb\u951a\u70b9\u3002\u51ed\u501f\u5168\u7403\u6700\u5927\u7684\u8d44\u4ea7\u57fa\u6570\u548c\u5f3a\u52b2\u7684\u606f\u524d\u5229\u6da6\uff0cICBC \u6709\u80fd\u529b\u4f20\u5bfc\u653f\u7b56\u5e76\u4ece\u4ea4\u6613\u91cf\u7a33\u5b9a\u4e2d\u53d7\u76ca\u3002\u91cc\u7a0b\u7891\u63d0\u793a\uff1a\u8fc7\u53bb 12 \u4e2a\u6708\u7ea6 510 \u4ebf\u7f8e\u5143\u7684\u51c0\u5229\u6da6\u51f8\u663e\u76c8\u5229\u7684\u97e7\u6027\u3002<\/p>\n

7) China Construction Bank, CCB (0939.HK, 601939.SS)\uff1a\u9876\u7ea7\u6309\u63ed\u4e1a\u52a1\u77e9\u9635\u5e76\u5728\u4fdd\u969c\u6027\u4f4f\u623f\u878d\u8d44\u65b9\u9762\u5177\u5907\u4e13\u957f\u3002\u62e8\u5907\u8986\u76d6\u7387\u548c\u624b\u7eed\u8d39\u6536\u5165\u7684\u7a33\u5065\u6709\u52a9\u4e8e\u7ba1\u7406\u4fe1\u8d37\u5468\u671f\u3002\u5168\u7403\u5f71\u54cd\u63d0\u793a\uff1a\u652f\u6301\u4e0e\u57ce\u5e02\u66f4\u65b0\u76f8\u5173\u7684\u57fa\u7840\u8bbe\u65bd\u8d37\u6b3e\u3002<\/p>\n

8) CGN Power, \u901a\u8fc7 CGN Power Co. (1816.HK)\uff1a\u5168\u7403\u6700\u5927\u7684\u6838\u7535\u5efa\u8bbe\u5e73\u53f0\uff0c\u4e3a\u7535\u6c14\u5316\u63d0\u4f9b\u57fa\u7840\u8d1f\u8377\u4ea7\u80fd\u3002\u968f\u7740\u623f\u5c4b\u7ae3\u5de5\u589e\u52a0\uff0c\u7535\u529b\u9700\u6c42\u7684\u7a33\u5b9a\u662f\u987a\u98ce\u56e0\u7d20\u3002\u5168\u7403\u5f71\u54cd\u63d0\u793a\uff1a\u5728\u201c\u4e00\u5e26\u4e00\u8def\u201d\u5e02\u573a\u5c31\u6838\u80fd\u4e0e\u53ef\u518d\u751f\u80fd\u6e90\u5f00\u5c55\u5408\u4f5c\u3002<\/p>\n

9) LONGi Green Energy (601012.SS)\uff1a\u5728\u592a\u9633\u80fd\u7ec4\u4ef6\u4e0e\u7845\u7247\u5236\u9020\u4e0a\u5177\u6709\u5168\u7403\u9886\u5148\u89c4\u6a21\uff0c\u80fd\u591f\u964d\u4f4e LCOE\uff08\u5e73\u51c6\u5316\u53d1\u7535\u6210\u672c\uff09\u3002\u8f83\u4f4e\u7684\u56fd\u5185\u878d\u8d44\u6210\u672c\u53ef\u50ac\u5316\u65b0\u5efa\u4e0e\u6539\u9020\u4f4f\u623f\u7684\u5206\u5e03\u5f0f\u5c4b\u9876\u5149\u4f0f\u3002\u5168\u7403\u5f71\u54cd\u63d0\u793a\uff1a\u5411\u6b27\u6d32\u3001MENA \u548c\u62c9\u7f8e\u4f9b\u5e94\u6027\u4ef7\u6bd4\u9ad8\u7684\u7ec4\u4ef6\u3002<\/p>\n

10) Midea Group (000333.SZ)\uff1a\u9886\u5148\u7684\u5bb6\u7528\u7535\u5668\u4e0e HVAC \u5236\u9020\u5546\uff0c\u901a\u8fc7\u767d\u8272\u5bb6\u7535\u4e0e\u7a7a\u8c03\u5347\u7ea7\u5728\u7ae3\u5de5\u65f6\u5b9e\u73b0\u53d8\u73b0\u3002\u5168\u7403\u5f71\u54cd\u63d0\u793a\uff1a\u6d77\u5916\u6536\u5165\u591a\u5143\u5316\u4e0e\u81ea\u52a8\u5316\u4e1a\u52a1\u4e3a\u5bf9\u51b2\u56fd\u5185\u5468\u671f\u63d0\u4f9b\u4fdd\u969c\u3002<\/p>\n

\u6267\u884c\u98ce\u9669\u4e0e\u9700\u5173\u6ce8\u4e8b\u9879<\/h3>\n

\u653f\u7b56\u7ec6\u8282\u81f3\u5173\u91cd\u8981\u3002\u6309\u63ed\u5229\u606f\u8865\u8d34\u7684\u89c4\u6a21\u4e0e\u6301\u7eed\u65f6\u95f4\u3001\u9000\u7a0e\u7684\u8986\u76d6\u9762\u4ee5\u53ca\u4ea4\u6613\u6210\u672c\u7684\u524a\u51cf\u5c06\u51b3\u5b9a\u4e70\u5bb6\u56de\u6d41\u7684\u901f\u5ea6\u3002\u5e94\u5173\u6ce8\u524d 30 \u4e2a\u57ce\u5e02\u7684\u6bcf\u5468\u6210\u4ea4\u3001\u9886\u5148\u7684\u6c34\u6ce5\u51fa\u8d27\u91cf\u4ee5\u53ca\u94f6\u884c\u6309\u63ed\u5ba1\u6279\u7684\u5468\u8f6c\u65f6\u95f4\u3002\u5982\u679c\u63d0\u524d\u8fd8\u6b3e\u7387\u4e0b\u964d\u4e14\u6309\u63ed\u7533\u8bf7\u4e0a\u5347\uff0c\u5219\u4fe1\u5fc3\u6b63\u5728\u4fee\u590d\u3002\u76d1\u6d4b LPR \u8bbe\u5b9a\u3001\u5b58\u6b3e\u5229\u7387\u6307\u5f15\u4ee5\u53ca\u653f\u7b56\u6027\u94f6\u884c\u653e\u8d37\u7684\u4efb\u4f55\u6269\u5f20\u4ee5\u786e\u4fdd\u4f20\u5bfc\u3002\u5c31\u4fe1\u8d37\u800c\u8a00\uff0c\u5173\u6ce8\u623f\u5730\u4ea7\u5f00\u53d1\u5546\u4e0e LGFV \u8d26\u518c\u4e2d NPL \u7684\u5f62\u6210\u76f8\u5bf9\u4e8e\u62e8\u5907\u7684\u60c5\u51b5\u3002\u8865\u8d34\u4e0e\u7ae3\u5de5\u4e4b\u95f4\u7684\u8054\u7cfb\u8d8a\u7d27\u5bc6\uff0c\u5bf9\u5bb6\u7535\u3001\u5bb6\u5177\u4e0e\u5c0f\u578b\u88c5\u4fee\u670d\u52a1\u7684\u4e58\u6570\u6548\u5e94\u5c31\u8d8a\u5f3a\u3002<\/p>\n

\u66f4\u5e7f\u6cdb\u7684\u4e2d\u56fd\u91cd\u7f6e\u6b63\u5728\u8fdb\u884c\u4e2d<\/h3>\n

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