{"id":652260,"date":"2026-07-22T18:57:47","date_gmt":"2026-07-23T01:57:47","guid":{"rendered":"https:\/\/nai500.com\/?p=652260"},"modified":"2026-07-22T18:57:47","modified_gmt":"2026-07-23T01:57:47","slug":"%e7%89%b9%e6%9c%97%e6%99%ae%e5%8f%88%e5%8a%a0%e7%a8%8e%ef%bc%81%e8%bf%99%e4%b8%89%e5%8f%aa%e5%8a%a0%e6%8b%bf%e5%a4%a7%e8%82%a1%e7%a5%a8%e6%88%90%e9%81%bf%e9%99%a9%e4%bc%98%e9%80%89","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2026\/07\/%e7%89%b9%e6%9c%97%e6%99%ae%e5%8f%88%e5%8a%a0%e7%a8%8e%ef%bc%81%e8%bf%99%e4%b8%89%e5%8f%aa%e5%8a%a0%e6%8b%bf%e5%a4%a7%e8%82%a1%e7%a5%a8%e6%88%90%e9%81%bf%e9%99%a9%e4%bc%98%e9%80%89\/","title":{"rendered":"\u7279\u6717\u666e\u53c8\u52a0\u7a0e\uff01\u8fd9\u4e09\u53ea\u52a0\u62ff\u5927\u80a1\u7968\u6210\u907f\u9669\u4f18\u9009"},"content":{"rendered":"

\u672c\u5468\uff0c\u7f8e\u56fd\u4e0e\u52a0\u62ff\u5927\u8d38\u6613\u4e89\u7aef\u518d\u5ea6\u5347\u7ea7\u3002\u7f8e\u56fd\u603b\u7edf\u7279\u6717\u666e\u7b7e\u7f72\u4e09\u9879\u516c\u544a\uff0c\u5ba3\u5e03\u5bf9\u4e00\u7cfb\u5217\u52a0\u62ff\u5927\u5546\u54c1\u52a0\u5f8150%\u7684\u5173\u7a0e\uff0c\u6d89\u53ca\u725b\u5976\u3001\u5976\u6cb9\u53ca\u5176\u4ed6\u4e73\u5236\u54c1\uff0c\u5564\u9152\u3001\u8461\u8404\u9152\u3001\u82f9\u679c\u9152\u3001\u5a01\u58eb\u5fcc\u7b49\u9152\u7cbe\u996e\u54c1\u3002\u65b0\u5173\u7a0e\u63aa\u65bd\u8ba1\u5212\u572830\u5929\u5b9e\u65bd\u7a97\u53e3\u540e\u4e8e8\u670819\u65e5\u6b63\u5f0f\u751f\u6548\uff0c\u800c\u5728\u6b64\u671f\u95f4\u53cc\u65b9\u8d38\u6613\u8c08\u5224\u4ecd\u5c06\u7ee7\u7eed\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u90e8\u5206\u6b64\u524d\u4f9d\u636e\u300a\u7f8e\u58a8\u52a0\u534f\u5b9a\u300b\u4eab\u53d7\u514d\u5173\u7a0e\u5f85\u9047\u7684\u5546\u54c1\uff0c\u672c\u8f6e\u4e5f\u53ef\u80fd\u53d7\u5230\u51b2\u51fb\uff1b\u4e0d\u8fc7\uff0c\u80fd\u6e90\u3001\u94be\u80a5\u3001\u5173\u952e\u77ff\u7269\u53ca\u9c7c\u7c7b\u88ab\u6392\u9664\u5728\u6700\u65b0\u63aa\u65bd\u4e4b\u5916\u3002<\/p>\n

\u9762\u5bf9\u6108\u53d1\u4e0d\u786e\u5b9a\u7684\u8d38\u6613\u73af\u5883\uff0c\u4e00\u6279\u4ee5\u5185\u9700\u4e3a\u6838\u5fc3\u3001\u4e1a\u7ee9\u8868\u73b0\u7a33\u5065\u7684\u52a0\u62ff\u5927\u516c\u53f8\u6b63\u6210\u4e3a\u6295\u8d44\u8005\u89c4\u907f\u5916\u90e8\u98ce\u9669\u7684\u4f18\u9009\u3002<\/p>\n

Loblaw\uff1a\u672c\u571f\u6d88\u8d39\u9f99\u5934\uff0c\u5168\u9762\u589e\u957f<\/h2>\n

Loblaw Companies (TSX:L) <\/a>\u4e1a\u52a1\u6db5\u76d6\u98df\u54c1\u6742\u8d27\u3001\u836f\u623f\u3001\u533b\u7597\u4fdd\u5065\u670d\u52a1\u53ca\u91d1\u878d\u4ea7\u54c1\u7b49\u65e5\u5e38\u6d88\u8d39\u9886\u57df\uff0c\u5bf9\u8de8\u5883\u5546\u54c1\u8d38\u6613\u4f9d\u8d56\u5ea6\u6781\u4f4e\u3002\u8be5\u80a1\u80a1\u4ef7\u7ea664.98\u52a0\u5143\uff0c\u603b\u5e02\u503c\u7ea6752\u4ebf\u52a0\u5143\uff0c\u8fc7\u53bb\u4e00\u5e74\u7d2f\u8ba1\u4e0a\u6da819%\uff0c\u4e09\u5e74\u6da8\u5e45\u8d85\u8fc7\u4e00\u500d\uff0c\u5e76\u63d0\u4f9b\u7ea60.9%\u7684\u5e74\u5316\u80a1\u606f\u7387\u3002<\/p>\n

2026\u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0c\u516c\u53f8\u8425\u6536\u540c\u6bd4\u589e\u957f4.2%\u81f3145\u4ebf\u52a0\u5143\uff0c\u5176\u4e2d\u98df\u54c1\u96f6\u552e\u540c\u5e97\u9500\u552e\u589e\u957f2.4%\uff0c\u836f\u54c1\u96f6\u552e\u540c\u5e97\u9500\u552e\u589e\u957f4.1%\uff0c\u836f\u623f\u53ca\u533b\u7597\u4fdd\u5065\u670d\u52a1\u540c\u5e97\u9500\u552e\u589e\u5e45\u66f4\u8fbe6.7%\u3002\u53d7PC Express\u914d\u9001\u53ca\u7b2c\u4e09\u65b9\u914d\u9001\u4e1a\u52a1\u63a8\u52a8\uff0c\u7535\u5546\u9500\u552e\u989d\u540c\u6bd4\u8df3\u534720.3%\u3002\u5f97\u76ca\u4e8e\u9500\u552e\u989d\u63d0\u5347\u3001\u7ecf\u8425\u6760\u6746\u6539\u5584\u53ca\u8d39\u7528\u7387\u4e0b\u964d\uff0c\u5f53\u5b63\u8c03\u6574\u540eEBITDA\u540c\u6bd4\u589e\u957f6.5%\u81f316\u4ebf\u52a0\u5143\u3002\u516c\u53f8\u6301\u7eed\u6269\u5f20\u7f51\u7edc\uff0c\u5b63\u5ea6\u5185\u65b0\u5f005\u5bb6\u786c\u6298\u6263\u5e97\u548c8\u5bb6\u836f\u623f\uff0c\u5e76\u8ba1\u5212\u57282026\u5e74\u6295\u5165\u7ea624\u4ebf\u52a0\u5143\u8d44\u672c\u652f\u51fa\uff0c\u540c\u65f6\u901a\u8fc7\u80a1\u7968\u56de\u8d2d\u548c\u80a1\u606f\u6301\u7eed\u56de\u9988\u80a1\u4e1c\u3002<\/p>\n

\u51ed\u501f\u5fc5\u9700\u54c1\u5c5e\u6027\u4e0e\u5f3a\u52b2\u7684\u56fd\u5185\u8fd0\u8425\uff0cLoblaw\u88ab\u89c6\u4e3a\u7a7f\u8d8a\u8d38\u6613\u6ce2\u52a8\u7684\u53ef\u9760\u9009\u62e9\u3002<\/p>\n

Franco-Nevada\uff1a\u77ff\u4e1a\u6743\u5229\u91d1\u6a21\u5f0f\uff0c\u76c8\u5229\u521b\u7eaa\u5f55<\/h2>\n

\u603b\u90e8\u4f4d\u4e8e\u591a\u4f26\u591a\u7684Franco-Nevada (TSX:FNV) <\/a>\u662f\u4e00\u5bb6\u4ee5\u9ec4\u91d1\u4e3a\u4e3b\u7684\u77ff\u4e1a\u6743\u5229\u91d1\u548c\u91d1\u5c5e\u6d41\u516c\u53f8\uff0c\u901a\u8fc7\u6301\u6709\u5176\u4ed6\u77ff\u5546\u7684\u4ea7\u91cf\u6743\u76ca\u83b7\u53d6\u6536\u5165\uff0c\u81ea\u8eab\u5e76\u4e0d\u8fd0\u8425\u5927\u90e8\u5206\u77ff\u5c71\uff0c\u56e0\u800c\u6709\u6548\u89c4\u907f\u4e86\u77ff\u5c71\u8fd0\u8425\u6210\u672c\u901a\u80c0\u98ce\u9669\u3002\u8fc7\u53bb\u4e00\u5e74\uff0c\u8be5\u80a1\u80a1\u4ef7\u4e0a\u6da837%\uff0c\u8fd1\u671f\u62a5292.74\u52a0\u5143\uff0c\u5e02\u503c\u7ea6570\u4ebf\u52a0\u5143\uff0c\u80a1\u606f\u7387\u540c\u4e3a0.9%\u3002\u867d\u7136\u8fd1\u4e09\u4e2a\u6708\u80a1\u4ef7\u56de\u8c03\u7ea614%\uff0c\u4f46\u5df2\u4e3a\u957f\u671f\u6295\u8d44\u8005\u521b\u9020\u4e86\u66f4\u6709\u5438\u5f15\u529b\u7684\u5207\u5165\u70b9\u3002<\/p>\n

2026\u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0c\u516c\u53f8\u8425\u6536\u540c\u6bd4\u589e\u957f77%\uff0c\u8fbe\u5230\u521b\u7eaa\u5f55\u76846.51\u4ebf\u7f8e\u5143\uff0c\u53d7\u76ca\u4e8e\u91d1\u94f6\u4ef7\u683c\u5237\u65b0\u5386\u53f2\u9ad8\u4f4d\u3001Antamina\u4e0eSouth Arturo\u7b49\u8d44\u4ea7\u5f3a\u52b2\u751f\u4ea7\uff0c\u4ee5\u53caC\u00f4t\u00e9 Gold\u3001Porcupine\u548cValentine\u7b49\u65b0\u8fd1\u8d2d\u5e76\u6216\u6295\u4ea7\u8d44\u4ea7\u7684\u8d21\u732e\u3002\u9ec4\u91d1\u5f53\u91cf\u76ce\u53f8\u9500\u552e\u91cf\u540c\u6bd4\u63d0\u53478%\u81f3136,353\u76ce\u53f8\uff1b\u8fd0\u8425\u73b0\u91d1\u6d41\u540c\u6bd4\u5927\u589e80%\u81f35.2\u4ebf\u7f8e\u5143\uff08\u542b\u4e00\u7b14\u52a0\u62ff\u5927\u7a0e\u52a1\u5c404950\u4e07\u52a0\u5143\u9000\u7a0e\uff09\uff1b\u8c03\u6574\u540eEBITDA\u540c\u6bd4\u8dc3\u534784%\u81f3\u521b\u7eaa\u5f55\u76845.92\u4ebf\u7f8e\u5143\uff1b\u8c03\u6574\u540e\u51c0\u5229\u6da6\u66f4\u7ffb\u500d\u81f34.58\u4ebf\u7f8e\u5143\u3002\u516c\u53f8\u6301\u7eed\u6269\u5145\u8d44\u4ea7\u7ec4\u5408\uff0c\u5b63\u672b\u6301\u670934\u4ebf\u7f8e\u5143\u53ef\u7528\u8d44\u672c\uff0c\u4e3a\u672a\u6765\u83b7\u53d6\u66f4\u591a\u6743\u76ca\u63d0\u4f9b\u4e86\u7075\u6d3b\u7a7a\u95f4\u3002<\/p>\n

\u5c3d\u7ba1\u6311\u6218\u5e03\u57fa\u7eb3\u6cd5\u7d22\u6cd5\u9662\u6709\u5173Karma\u77ff\u6d41\u8f6c\u88c1\u51b3\u5e26\u6765\u4e00\u5b9a\u77ed\u671f\u98ce\u9669\uff0c\u4f46\u8be5\u516c\u53f8\u8d44\u4ea7\u9ad8\u5ea6\u5206\u6563\u3001\u8d44\u4ea7\u8d1f\u503a\u8868\u5f3a\u52b2\uff0c\u5728\u8d38\u6613\u7d27\u5f20\u5c40\u52bf\u5347\u6e29\u4e4b\u9645\u4f9d\u7136\u5c55\u73b0\u51fa\u826f\u597d\u7684\u907f\u9669\u7279\u8d28\u3002<\/p>\n

Hydro One\uff1a\u7701\u5185\u7535\u529b\u52a8\u8109\uff0c\u6536\u76ca\u53d7\u76d1\u7ba1<\/h2>\n

Hydro One (TSX:H) <\/a>\u7ecf\u8425\u5b89\u5927\u7565\u7701\u8f93\u7535\u4e0e\u914d\u7535\u7cfb\u7edf\uff0c\u670d\u52a1\u7ea6150\u4e07\u5ba2\u6237\uff0c\u6536\u5165\u6765\u81ea\u53d7\u76d1\u7ba1\u7684\u7701\u5185\u5fc5\u9700\u57fa\u7840\u8bbe\u65bd\uff0c\u51e0\u4e4e\u4e0d\u53d7\u51fa\u53e3\u53ca\u5173\u7a0e\u654f\u611f\u5546\u54c1\u5f71\u54cd\u3002\u8be5\u80a1\u80a1\u4ef7\u8fc7\u53bb\u4e00\u5e74\u4e0a\u6da822%\u81f359.08\u52a0\u5143\uff0c\u5e02\u503c355\u4ebf\u52a0\u5143\uff0c\u63d0\u4f9b2.4%\u7684\u5e74\u5316\u80a1\u606f\u7387\u3002<\/p>\n

\u7b2c\u4e00\u5b63\u5ea6\uff0c\u516c\u53f8\u8425\u6536\u540c\u6bd4\u589e\u957f10%\u81f3\u7ea626\u4ebf\u52a0\u5143\uff0c\u5f52\u5c5e\u666e\u901a\u80a1\u80a1\u4e1c\u7684\u51c0\u5229\u6da6\u589e\u957f9.2%\u81f33.91\u4ebf\u52a0\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u75310.60\u52a0\u5143\u5347\u81f30.65\u52a0\u5143\u3002\u589e\u957f\u4e3b\u56e0\u662f\u5b89\u7701\u80fd\u6e90\u59d4\u5458\u4f1a\u6279\u51c6\u7684\u8d39\u7387\u8c03\u6574\u53ca\u5cf0\u503c\u7535\u529b\u9700\u6c42\u4e0a\u5347\uff0c\u540c\u65f6\u8fd0\u8425\u3001\u7ef4\u62a4\u53ca\u884c\u653f\u8d39\u7528\u4e0b\u964d\u4ea6\u5f62\u6210\u652f\u6491\uff0c\u5c3d\u7ba1\u878d\u8d44\u4e0e\u6298\u65e7\u8d39\u7528\u589e\u52a0\u90e8\u5206\u62b5\u9500\u4e86\u589e\u5e45\u3002\u540c\u671f\uff0c\u516c\u53f8\u6295\u8d447.15\u4ebf\u52a0\u5143\uff0c\u5e76\u67094.84\u4ebf\u52a0\u5143\u65b0\u8d44\u4ea7\u6295\u5165\u670d\u52a1\uff0c\u4e14\u88ab\u9009\u5b9a\u5efa\u8bbeGreenstone\u3001Red Lake\u53caSudbury\u81f3Barrie\u7b49\u91cd\u5927\u8f93\u7535\u9879\u76ee\u3002<\/p>\n

\u8fd9\u4e9b\u9879\u76ee\u5c06\u652f\u6301\u5b89\u7701\u65e5\u76ca\u589e\u957f\u7684\u7535\u529b\u9700\u6c42\u5e76\u52a0\u56fa\u516c\u53f8\u7684\u957f\u671f\u76c8\u5229\u8f68\u9053\uff0c\u4f7f\u5f97Hydro One\u5728\u8d38\u6613\u6469\u64e6\u73af\u5883\u4e0b\u4ecd\u5177\u5907\u7a33\u56fa\u7684\u907f\u9669\u4ef7\u503c\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u672c\u5468\uff0c\u7f8e\u56fd\u4e0e\u52a0\u62ff\u5927\u8d38\u6613\u4e89\u7aef\u518d\u5ea6\u5347\u7ea7\u3002\u7f8e\u56fd\u603b\u7edf\u7279\u6717\u666e\u7b7e\u7f72\u4e09\u9879\u516c\u544a\uff0c\u5ba3\u5e03\u5bf9\u4e00\u7cfb\u5217\u52a0\u62ff\u5927\u5546\u54c1\u52a0\u5f8150%\u7684\u5173\u7a0e\uff0c\u6d89\u53ca\u725b […]<\/p>\n","protected":false},"author":27,"featured_media":565180,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1521,430,2196],"tags":[2588,2170,2146,668],"class_list":["post-652260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1521","category-trends-strategies-zh-hans","category-2196","tag-precious-metals","tag-2170","tag-2146","tag-668","sectors-1602","sectors-oil-gas-zh-hans","sectors-gold-zh-hans","locations-canada-zh-hans","exchange-tsx-zh-hans"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/652260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=652260"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/652260\/revisions"}],"predecessor-version":[{"id":652263,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/652260\/revisions\/652263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media\/565180"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=652260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=652260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=652260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}