1、/曘扥檣 炱峺幌倧儽炱夁恗層儷伻烀劃扨152暍炱斕料扨烀娚伿愜炱佸叩洵儢僭伻匋伻屑屑恱佌暐炱咾料恲烀盡炱巒傞暍恲炱炿咾料巒傞炱恱巒傞椹娟佸咾料盡恠炱咾料櫝帤炱咾料惠昘炿 扦捫咾料扠炱巒傞烄炱佲咾料態悒憖僭儷炱奄屜炱佐仚炱巒帤枏炱婼恲炱悳恠炱扦岔巒傞炱咾料婼悐屮 僭恲帤炱屮巒帤婛厜炿扠傞恲巒帤朩炱巒傞彄炱枙庈怔悵炱9 t傚囪烀佨無柫帳炱劃劃屟婢戫炱烀帣帣婟椪炱帣帣炱巒斗庈炱侱劃怔暍帣帣佟炱悳恠壥巒帤炱佟巒傞咾料盡炱咾料侍扦炱佝你佀 咾料帳怸咾料炱儻權栂REPORT1REPORT3儀庫廽櫢庫具廽、孲 01 HYPERLINK l _TOC_250006 思儖挿 03 HYPERLINK l _TO

2、C_250005 桲廽豐廟桲愳 10 HYPERLINK l _TOC_250004 栁憂愳 172偅嵟Z7、孲 54 HYPERLINK l _TOC_250003 Z019妾 56 HYPERLINK l _TOC_250002 庽副慯廟廽 64 HYPERLINK l _TOC_250001 庽副慯儖 724 HYPERLINK l _TOC_250000 庽副慂喗 78偅嵟 86REPORTREPORT3&庫廽橑櫠庫廽、孲Z9、孲8830妾8942嬳99偅嵟t2喗晲108偅嵟116CONTEN從“游牧民”到“采獵者”2019日化美妝行業消費趨勢解讀、y孲挹具扯庫廽栂t0710Z曘扥彄咾

3、料佘炱愜惠炱炱栂彄曘扥巤冖炱屮佐仚帤恴壥佬僭炱屮巒帤婛厜炿扠傞岬巒傞炱悢夽炱巁巒悢炱悩叢儻炱悖儻岬扠傞巒傞扠勅炱惠悢倽炱炱悢炱圖憁哖儻炱倽炱婚 扠束悢儻扠傞悵炱 炿傞悵炿巒傞壥曝彄炱彄炱儻劃枙炱。炱娚傚炱無炱扦娚瀝彄炱扦娚枙悵炿巒傞枙帣 炱勅倽冖枙木悢炱儻冖悖炱娚炱炱幌巀扠悵炿巒傞帣炱幸木帤悩叢儻炱木儻悩炱劃婚炱悢炱巁佨帉悢悵扠束侱悉炱悩炿PART 1 思 儖挿03儀庫桲庚 檣傞悵炱彄帤岬彄屋彄炱倧巒悩儻炱佸瀝彄佨帣杗巒恴壥椝炱儻幗巒帣倧巒巁枙炿崥彄炱儻傞佡憖巒傞幗佬炱恗恲 恴壥 倧/ 崥倧儽。/樲/佑/樲噉彄04彄幗 關僠嶅 慚廽檣瀝彄婼佪婛炱瀝倧巒炱岬19-Z4瀝佝怔巒傞炱 倽悸哰歱瀝佝炱

4、怔帤炱恲佸変傚帤入入炱屳媙炱佨炱傞炱怔傞 炱帤炱昘傞怬恲炱怔炱恴帤僭佬炱柫婟婟柫 儻 囪傚婛炱怔19-Z4暍傚囪克炱恲囪怔倇炱枵/帳炱怔倽哰炱19-Z4柫炱巒傞憁恲傚巆悸炱椝曋傚佀傚Z016扨Z017扨Z018扨慚廽19-Z4烶倶毣汊憑曱關埃僠關Z5嗉;19-Z4Zt-Z930-3940;悸査憁査憁。1 | Z019(3:) 佀瀝;悸 夁瀝佝屾19 Z0 Z1 ZZ Z3 Z4 Zt Z6 Z7 Z8 Z9 30 31 3Z 33 34 3t 36 37 38 39 40Z | Z016-Z018炱瀝扨嶺佶關埃僠關Z5嗉04t119Z0Z1ZZZ3Z4ZtZ6Z7Z8Z930313Z33343

5、t36373839403 | Z016-Z018炱瀝扨嶺佶査刵 儽査枵憁。憁査憁。樲06廽慍嶅偁廩彄婼佪佸佘帞炱冖倧儻木屟婢戫炱巒帤帳炱佨峺倧壥 帣帣炱倧壥 嶺帣帣炱儽悸倧儽 1.Z炱。悸。Z.Z炱恞屳炱冖倧巒帳炱儻戫盡屟炱倧儽圖歱悸昘炱扨佶扨佀曩 巒傞炱 幌10%岍炱巆倧炱劃枙冖憐炱恱佲悚恲屗歱。巆傞帤屚6炱匛屷匛t.Z0匛炱歱。巆傞劌冖帞恠t0%t炱巆伻娚哰歱炱恱19-Zt炱悚偁毣廢倔嗉汊19-Z5 Z.Z-3悸 。Y 。 1.Z-3悸 儽 Y 倧儽 柷。/儽巆傞壥巒捫椶炭儽/。)幌 10 % 19 Z0 Z1 ZZ Z3 Z4 Zt Z6 Z7 Z8 Z9 30 31 3Z 33 34

6、3t 36 37 38 3904714 | Z019(3:)巒傞巒捫椶t | Z019(3:)巒傞巒捫椶匛屷匛匛t.Z0叴汊庫具卥廷愹50%Z0180801Z018081Z Z01808Z1 Z0180830 Z0180908 Z0180917 Z01809Z6 Z018100t Z0181014 Z01810Z3 Z0181101 Z0181110 Z0181119 Z01811Z8 Z0181Z07 Z0181Z16 Z0181ZZt Z0190104 Z0190113 Z01901ZZ Z0190131 Z0190Z10 Z0190Z19 Z0190ZZ8 Z0190309 Z01903

7、18 Z01903Z7 Z019040t Z0190414 Z01904Zt Z0190t04 Z0190t14 Z0190tZ3 Z019060Z Z0190611 Z01906Z0 Z01906Z9 Z0190708 Z0190717Z01907Z66 |Z019(3:)巆傞佘催偁毾憄挄嶅暹棄劣彄婼佪岬帳炱佘怔 巆歱倧炱歱無柫悸劌歱憖柫炱悳恠憐無柫倽您悸炱炱倧曽炱倧儽。樲倧佘倽您憐昘暍炱您悸儻炱恲夁峺炱入 無柫凊炱無柫/恗/儷伻哰歱憖柫炭婚8炮炱 椪愜炭巀婟椪炮婡昘哰歱1Z佘憖柫岍炱無柫暋暍憐炱冖半暍叢悖木叢巁俓炱愨佨欥炱巤憖壥炱帤炱儻恲木炱炱無柫憐杗吶炱恴儻 凊侳炱彄炱 佘歱巁濩儀暹棄憁

8、惵汊杦曱枧儀暹棄憁惵汊杦曱枧倧椶歱倧椶暹棄l愰l僃倔汊憖柫無柫倧悸歱倧悸+ 10%048Z佘佘7 | Z019炭3:炮 倽您悸8 | Z019炭3:炮無柫Y憖柫巆倧 /梌/儷伻/恗旇屨倽您暹棄嬺曱嗉汊1-Z倱扯棄憖柫無柫4019 巀婟椪成9 | Z019炭3:炮娚椪愜婡昘炭炮桲嶅思孕偃庫暠嘵杦桲兾棐愹思佬炱屓瀝炱彄入巒帤炱憖佸盡入炱帉 炿叺暍枙炱儻柷恠彄PART 2 桲廽豐 廟桲愳140Zt171妾噦扚候汊曱Z0%倧儽/ 倧/。/樲/ 倧倧/ / /佑/樲噉扨扨査憁奞査刵査憁 /査枵/儽憁彄10 | Z019炭3:炮倧壥佀扨査曋 卌壥奞/欥奞査憁。憁。倧憁。樲。奞。 悹佑/好/壼/憑/悹彄彄樲

9、偅乭偑愳豐倔思姕曱毣儻佟炱壥佬佸恚炱。伻彄壼昘權烀昘佬恚巒枙炱朩巒惔怪悵倧儽/倧/權 扨悸1Z/壥扨權權佑/樲噉。/樲/倧倧&/扨扨悸悸/壥扨/壥扨11 | Z019炭3:炮佀壥扨悸扚扚儻恴婛佀:UV10-3炱巒佬恚帤炱憁憁炱憁炱恲夁巒傞巆悢帣炱佸 巒傞悢炱悢炱屮炱昘13:5610扨:5610扨憁憁憁倧儽/ 倧/。/樲/ 倧倧/ / /佑/樲噉査憁奞査刵査憁/査枵/儽憁彄査曋卌壥奞/欥奞査憁。憁。倧憁。樲。奞。悹奞佑/壼/憑/悹彄彄樲憁係憁係憁係憁係憁係/好/1Z | Z019炭3:炮倧壥佀:5610扨廽1y豐倸桲豐倸惞崻廽豐卦佬入炱巒枙恚炱巒恴壥佸炱巀帤炿|佟巒傞枙佨佟悵炱屢帤劍儀刖刖桲倸惞

10、査倧儽儽枙佟炱佸壾/倧冖屨曩炱儻/劍/札/夤屢憐歱査炱恱冖炱巒傞。帣劍屢炱儽。扨炱恠昘187%佟枙枙。枙 +187%儽扨悸枙扨1413 | Z019 7Z倧儽枙扨扨悸14 | Z019(3:)。儽佟枙扨悸廽Zy巓卜倡丫刖副崻廩|峺巒傞屢劃峺恴壥恚炱屓懫帤炱倧我峺帤炱倧儽 曋曋峺冖悉帤炱憖巒傞屢佟峺炱佀炱冖恴婛岑/喅/樲屢炱我/戉冓我帤炱/壺儽屢l欋棄卜刖+9%+80%+55%懫+8ZZ%+Z15%+17%我+Z03%+18Z%+97%倧儽倧檣權曋曋1t | Z019 炭3:炮佀枙-3悸刖喅樲我戉冓壺咜咜/儽憑査憁/査憁奞彄/査枵査刵/彄悹奞壼/100:-/Z00Z00:-/300300:-/4

11、00400:-/t00:-/$t001t16 | Z0197Z憁佀巀昘帤炿夁匋夁佀悸悸:-/炱悢炱椵匋帣帣廽3y存倸廢桲愑庫棔|婿佟巆枙炱怸巒査婛炱倧壥屢炱屓/恱匛悚炱炱恱壥椶儻媙炱炱巒傞巆 儽炱巒匛匛+95%+88%34+8Z%+Z7Z%+1Z9%+93%+%(儽)()匛(。)(。)(倧)忿(樲/曋)壥(倧儽)17 | Z019炭3:炮佀枙扨悸;:-/:-/#10018 | 巆傞巆:-/佘16PART 3 栁憂愳17栁憂栁棔晰彡存傛巀帤悵炱巒傞 儻炱帣木悩炱儻媙炱檣冖婛巒炱叩扨帳査叩枙 炱巒傞暋悴枙 炱叩扨帞恠炱佘巆悳愜儻木査婿炱巒傞冖婿婿帣炱扨吶恲恴巒傞暭劃曡炱儻査査炱儻査幗倽巒傞儻媙炱木

12、扨叩炱巒儻炱巒傞巆婡曦9%炱器巆曦 11%恲夁巆悢束係巒傞圖悴炱暋悴炱儻暍憐炱柷婡炱儻扠束悢棔哂廢桲庫具杤憍五桲叩叩Z01tZ01819 | 恪3扨昘(6婟婫)S:IFOV(018g$BBm$01V/S523 .AY jNflTo栁棔庫具嬺晰彡Z0183:扨Z0193:扨Z0 | 巒傞斗庈婿扨栁哂豐庫具廢枿 *恲咾料炱冖 恴巒傞幗悢束炱愼査扨杗奄巒傞炱巒傞恴悳炱佡悵岡帳巆婡炭91;炮- 9%巆器/巆- 11%18yN;$:Ul$V$ $1*$fiLffiNS,%ER Dsg/G_v/H/Offi,c%V DRfi( )0$ fi)od6,flfiUl$V VARfiCV$( AyN;IFfi$

13、aYf flRfifi8I, oNfi (019.0* 98 (018.0*慯慯卜扚喯偁毾悖巒傞扦娚査炱圖儷伻 /6悖壥昘炱巀扦娚巒傞巆庎 炱悢扦巁倧儽炱儷伻/6巀冖曦炱入巀冖恲夁巒傞悖炱帣帤悢炱悳恠倧儽嶶嶼椎炱炱恲巒傞扦 憁哖佨欥炱憐婡巆傞屝佨欥炱婿嶶炱櫝屾扦娚炱柷 佈炱儻半敊彑橀慻慯慻”崶槸扚喯倧儽。倧A40 ;14+1%儷伻-1%/6-3%+91%+Z4%+7Z%;13O+88%+7%+187%+4Z1%+38%+Z77%+Z54%+Z85%fiI A51 2 2/3$43 TGI = 10019Z1 | Z019 3:悖旇屨悸ZZ | 倧儽 | 嶶嶼椎/冖 :-/$TTGI = /A4

14、& / $GA4& * 100喗晲憄偁毾存憌晰彡愰廢炱巒扦娚婛炱巒傞恠 炱憖帣炱娚屢炱岐厜佲炱成炱冖屝恗婟椪厜佲曞炱巀咾料倧壥喳楧炱 愨婿恗佨欥炱 溼盡炱恴悸哰夁炱愜恴炱斗庈 器巆娚恵歱悳恠恴炱扨扨炱扨扨佬炱 巒傞婿恴壥僭悳炱 悵哰慍晰彡坁汊晰彡副汊+4%6恴器柷愜恴愜恴Z3 | 倧儽壥 | 9 柷愜恴器昭+倶懅廢惞懅抿咻y+倶惞存抿y倶敔敔+敔+悳忿+巀 + TGI=100TGI=25*TGI=143敔|婟椪|婟椪巍+|+婟椪 + + TGI=100TGI=102TGI=245TGI=605Z4 | 倧儽壥斕| 婿佝巒傞悵Zt | 倧儽壥斕| 婿佝巒傞悵Z0炿傜囪尺壥炱悢壥扨:56t0斕扨恴

15、壥侕尺炱佬屓娚悛憁PART 4挹喗晲嬳Z1挹挹炱巀侍帤恚炱曘扥倧咾料婚儻媙炱扠炱扠炱Z019咾料扦娚岬扠炱扠巒帤炱娚吶巒傞炱層巒傞炱倽炱愼枙娚曡炱巰昘攡憁夁炱巆娚恵歱傚巆炱岍暍僭帤炱炱媙劃炿昘旇炱扦娚炱咾料扚捁曱曱兾孲卥挿嫳傚扚挿嫳1.Z6961.3396傚(憁扨憁(扨ZZZ6| 憁憁扨扨傚嶺 Z7 | 憁傚扨嶺炿炱巆恠炱巆恠岬炱壥昘扨倧儽/ 倧/。/樲/ 倧倧/ / /佑/樲噉恠炱佀;昘炱哰歱扨巀炱;昘壥扨扨査憁奞査刵査憁/査枵/儽憁彄査曋卌壥奞/欥奞査憁。憁。倧憁。樲。奞。悹奞佑/好/壼/憑/悹彄彄樲Z8 | Z019(3:)倧壥佀;扨巀炿炱巆恠炱巆恠1栆挹劣副炱吶炱炱傞査佨椱屮婫椱炿炱札

16、炱扠凊冖捫敊巒暍巒無柫存杦彡挄庫桲咻嬸樃庫0tZ3凌06Z4樃懅嬸樃277挿嫳無柫叢婟椪巒半巒暍憐炱咾料5:川炱咾料無柫倽 炱無悳庈暹棄廈樃懅唩廽喗憒憑思劣憖柫無柫巀婟椪成Z9 | Z019(3:)娚椪愜婡昘嬸樃憂廢廼廼暹棄倱嬸樃張杦3-5憖柫無柫A0-1)A1-t)At-10)A10-Z0)AZ0-40)A40-60)A60-1Z0)1Z030 | 5:婛昘炭攸炮Z彚挄挹準暌庁炱戫炱扠枙斳炱壥僭佘炱巒傞巁枙炱佘炱屾佘:UV枙屨 :UV枙屨束炱悢恲枙屨幗炱傚巒傞恴壥扦悳炱屮枙炱壥婛巒傞僭巆炱庁壥冖傚 炱巆巒傞冖恱戊傰樃岜巒傞炱恠炱扦恲憁巒傞恴壥悳炱歱恗妾庚桲欋?準桲彚妾準嵵關 枙;歱僭樃岜僭婝

17、Z4t1壥枙;婝31 | 扦巒枙婝3Z | 壥炿庁3抿,3存挹炿懦/6炱婿炱扠咾料懦/6憐壥咾料悚炱岑査柋曋彄佸悛炱炱俓峺暍炱壥/6佬炱曩扨暁炱悚炱冖壥料悚 Z019炭3:炮扨 Z019炭3:炮扨/査枵査柋枵/儽曋枵奞炭倧炮/憑彄/枵枵彄憁刵査33 | Z019炭3:炮悚炱 憁扨,3l互+慳妾叡柋*11* 曋枵* 2* * 査*$2*150PO*2枵*30PO*5.7+HOOR NLWW *Z46Z34 | Z019炭3:炮悚炱椶:56偅y嵟囶廩厐憑愰 嬶庽副栁憂挹慯悖+劃木悩恚咾料廟枙帤巀枙恚具彄 倽扦歱悸昘憁豐倸巓慚傚倇偁 暹棄俓佨欥Z471扠傞悵炱惠炱儻炱 枙娚嘝帳劷炱悸恗斬炱枙娚婝炱巤

18、冖炱曘扥炱庈炱壥炱咾料炦抿,3婿挹 僭斳凊冖彚廟戫札Z48Z 2o3e 3cm1M88、y孲妾偟曱憑傅杦曱Z018炱帞4巆巒炱娟 Z1t炱448査咾恠炱佘巒旇炱佘 巒來昘炱儻Z019悹巒昘炱屨昘椔婟炱木婛佨悵佀炱巒壥査憁壥炱劃Z016炱木岜炱査悸來儂炱壥曦帤査炱儻恲斗劌壥炱恪3巒壥昘炱圖巒來昘炱悸儂帤(1)巒壥束憐歱壥炱(1)昘悸炱屑烀儻炱悸儂恲奄昘帤悸帤壥岜扦娚炱盡巒壥査 炱恴岜枙娚婟巒壥査憁壥炱恂屚入嘍佬冖炱入嘍帤佬扨枙恲暇椱恴壥炱恴儻巒壥帤炱恴儻壥扨 悸儂 悸1 | 巒壥娚束恪3悸帤炿怍恪3悸帤炱卾18悸歱17炱儂烀低怍旇:564束()84)炱壥Z9炱査帣炱椶帣PART 1炱曘扥巒傞壥炱

19、巒4壥18佀780恪3巒壥恴壥悳恠炱壥炱帤昘冖炱倽炱決庨歱咾料婼30杦杦嬴ConceptTechSpaceTime巁巒壥佬炱扠|暍炱巁|扨佬炱屮暩悉巒壥帤曘扥巒帤屓炱佌暍暍婛4侍巒壥 暍暍侍炱儻楷幜婛栂櫝枙炱屮巒壥帤炱椓儻權壥悟庫妾慚廽90儖妾曱暠Z016-Z018炱90倽歱昘壥Z炱壥扦娚炱90倽悸歱壥炱壥昘旇炱壥90倽憐炱儻木90倽悩恴倇曏炱90倽壥您暍來岜婟壼束楧/佘/啶梌倧凊/倧Z | 巒壥扦娚怔倽悸90倽悸90倽悸冖夁冖杦杦灊憂關兾暍巒櫝巒枙扦炱暍峺曩巒倽炱儻枙暍32炿Z017-Z018巒壥扦娚90倽-3-3悸炱侘匋佘-3悸引-樎-毾-庫毣庫豐卦古暍扦巒枙炱恲巒壥90帳炱枙娚婼倽枙巒婛

20、恪3巒佬炱恴儻婼 巒屢婛炱巒巒4帤炱幗椵欥幗炱(+114%)(+18Z%) 屗(+3t4%)炱梌潪冏(+90%)炱90倽恪3憖憐歱悸炱劃巒(3)椵彄屢倧炱倧劉/劉(+36t%)査 (+134%)倧(+Z38%)倧(+9Z%)恪3憐歱悸(3)欥炱90冖屗巒枙炱樃(+Z08%)(+194%)(+147%) (+71%)恪390倽悸哰炱 欥悖(3)炱厜屗90倽柫/岆梌(+199%)啶僌(+118%)炱屗儷伻 (:-/#1t3)(+17t%)90倽歱昘(3)恪390倽悸昘炱佌巒櫝幗椵欥旇儻恲炱劍匋幗+114%+18Z%+36t%倧倧劉/劉+134%査幗欥+3t4%+Z08%樃+147%+90%潪冏+1

21、94%+71%椵+Z38%倧+199%/岆梌:-/#1t3儷伻+9Z%倧+118%啶僌+17t%3 | 恪390倽昘炿90恪3悸烀儷伻Z018帳炱尺屾儷伻90-3屾90-3:-/33杦憌憂丼杦悩炱枙暍劌図暍炱巒愜帤3-4倱*09偟懅廽夽炱儻佨壺炱恲劍佨枙佀暍佀婟婫愜佬炱恪3佘巒櫝椶來炱愜 (4)佟巒旇炱3-4佘椶悸1-Z佘帤炱恲冖恪 3-4佘來(t)+1.Z4%+0.4Z%1佘Z佘Z018Z017Z0163佘4佘t佘6佘363冖屗*/?冪屜冪倧倧梌懦悸 1Z佘悸您 1Z佘 您歱4 | 佀3巒-3嶺t | 3-4佘巒您悸34炿佀恪3-3嶺炿3-4佘1-Z佘3-4倱核1-Z倱扚惵杦3-4佘炱巒束(

22、曽&屜冪&)炱束侀來暍炱憐扨暍(6)束:-/岜婟壼3)懦*/?冪363/364/梌屜冪冪/懦/冪/3/*暃/;/屗/冖屗/梌倧倧6 | 3-4佘旇束:-/炿3-4佘巒傞娚束)84炱佘)84:-/35憂偑崖恴巒櫝悸悩奄悸恩査炱悹巒炱巒恠欥36灃毾準槸愳庫廽副呵炱悸悵巒炱潪帳儺冖巒炱您巒傞査査炱巒傞盡炱恴儻悹恠3佘巒悸炱冖(+ZZ9%)/岆梌(+1Z1%)冖 軍(+74%)冖夁/(+t1%)冖壥 (+4t%)冖楷壥(+Zt%)(7)炱悩巒傞欥恠炱僭儷恷炱僭儷暍恷炱僭僭炱冖旇巒恠3炱佮冖炱O灣冖婟(:-/#134)壼(:-/#161)(:-/#170)(:-/#13Z)冖曋 (+Z67%)冖(+1t

23、1%)冖屗 (+t4%)憖歱昘(8)炱冖佸佸僭冖炱巒炱巒傞恠婛欥炱恴儻扦巒傞+ZZ9%冖+51%冖夁/+1Z1%/岆梌+45%冖壥+74%冖軍+Z5%冖楷壥7*, 134=O,O婟7 | 恪3冖昘炿恪3巒冖昘帤+54%冖7*, 134=O,O樆7*, 11=O,O壼7*, 13Z=O,O+151%冖+Z7%冖曋7*, 170=O,O8 | 恪3冖昘炿:-/5:冖柷/5:冖悸:-/烀悸屾恪3昘帤37卜杦嬴慍庫具廽吣昣杦侳木佸婛暍婛恴炱仚暍彅恠炱儻 婼巁炱旇帤恠3巒壥炱冖欥3査曡炱扣巒傞暍炱巒傞欥冖夁冖帳炱(+67%)(+94%) (+Z7%)樃(+137%)歱悸昘儻欥岑 (+1t9%)(+133

24、%)恲悸昘炱岜(+194%) (+t4%)巒傞柫炱匈巒傞扦婼炱儻巒傞帤半敊暍婛炱婛栂 炱巒屢冖欥+7%+94%+Z7%+137%樃+159%+133%+194%岜+54%嬴庫棐庚憂巒傞悳恠劃櫝炱夁恗悩盡9 | 恪3昘38炿恪3巒昘帤樎庫儀儀慯儀倧悖劃椱炱岆炱倧悖倧儻巒櫝炱倧屢Z査炱倧倧倧巒傞倧倧巒枙昘倧炱査(+109%)倧(+t4%)濔歱(+107%)倧 (+130%)歱悸昘炱巒傞椵屢烀儻倧炱彄(+103%)軍(+Z04%)凊(+67%)倧劉(+Z66%)巒傞印彄枙倧+107%+130%濔歱倧+54%+109%倧査+103%+Z04%彄軍+7%+Z%凊倧劉10 | 恪3倧昘巒傞倧屢倧悖炱夁椵暍

25、倧Z査恪3炱歱椵悸歱炱60-70婟(:-/#6Z1)査婟(:-/#Z93)帞嘝婟(:-/#178)憖憐昘炱(:-/#1Z4)束(+86%)(:-/#t14)(:-/#1Z7)巒傞暍倧屢木椵佨帳炱佮椵巒冖巒傞斗屶炱巒傞倧 悵岆媙炱冖巒傞歱恴壥悳40-t08:-/査Z93:-/:-/帞嘝178t0-60Z95:-/:-/60-70Z1485:-/倧7*,1Z4+8%束7*,5147*,1Z711 | 恪3倧昘炿恪3巒昘帤:-/冖悸:-/炱100岍悸炱帣帣炱10039偱棔嬴栁倸叴慯偱古瀆枙炱巒傞恠旇傜儻木巁炱巒傞屢佀炱帤夁査査儻悳恠巒恴壥帤炱巒傞屢夁樇楸憑壼査樇炱(+Z6%)(+Z8%)悸歱炱巒傞扦

26、樇烀楸炱嗅(+88%)楸(+7t%)暁(+Z64%)曋樞曽 (+114%)楸洵悸炱楸扦娚烀憑査炱(+t9%)倧 (+t1%)佘(+81%)夁炱憑屟烀査炱(+9t%)楧岜 (+704%)巒傞巁扨劫悛屢烀壼炱曽塁壼(+1439%)曽塁(+Z4%)悸炱巒傞儽烀炱(+930%)歱悸昘巒傞巁扨暇椱歱巁扨枙恪3侘匋巒悸昘炱巒傞婛恚炱悖炱權巒昘炱幌巒傞屢枙娚扦娚屇椱+Z% +Z8% 樇 +930%+88%+75%+Z4%+114%嗅楸暁曋樞曽曽塁壼壼曽塁+1439%+Z4%楸憑+59% +51% 倧+95%+81% 佘楧岜+704%401Z | 恪3昘炿恪3巒昘帤引庫杚嵇崖毾卜木屟悩婢戫炱盡劃夁恗 旇屢炱儻

27、恲屢査査炱巒旇巒悩盡夁恗劃扦娚慳炱巒恠巒傞悳恠屮欥幗炱恴儻幗恴壥巒恠3炱幗憐昘炱 (+137%)=/恩奞(+100%)炱(+184%)2USU旵(+180%)梌潪冏(+43%)憖幗佨帳炱幗巒堦巒傞 炱成巒巒傞炱巒傞夁恗劃査炱欥。侽佐41+137%+100%+184%+180%+43%=OO恩奞2USU旵潪冏13 | 恪3幗昘炿恪3巒昘帤PART 2炱壥炱屾奄炱歱壥咾料炱昘42咾料枙娚婼暇椱炱巀炱悛恴壥悳炱巒壥咾料枙娚恲扥炱盡倽佬炱恱冖倽烀炱層廂暍匛巀烀冖咾料炱冖炱咾料43崢妾屜壥炱倽僳倽佬炱娚僥憖櫝歱佀倽佝炱儻倽巀匋恲倽佬匋炱扦巒佀惑佬懦倇/屝/懦倇倽柷曽恲炱恱枙娚倽烄僥佀瀝巒冖巆壥僥憖櫝歱佀

28、川屈/僭儷屗尺克歱巒曏佀歱炿倽佬Z018屜壥倽恴壥倽僳佬炱倽巁屾倽壥倽倽憐儖妾曱毣70儖您恠炱屜壥倽匋炱婟倽悸倽悸Z(14)炱倽壥昘旇儻僳佟炱70倽80-90歱炱佨恪恲倽佨屜倽匋佬盡炱儻恲倽 歱炱(16)倽歱倽盡炱恲恠倽炱倽,+32+,+32+32+32+32+,+32+80-907032+,+32+儖川巒傞炱儻巒傞咾料屇椱恲扥炱枙娚倽佬炱枙娚愼冖奄咾料岬炱倽您14 | 屜悸1t | 屜16 | 70倽屜0484炿恪3屜壥-3悸炿Z018倽-3炿Z01870倽屜巀毣庫桲 70儖廢具具佟70倽屜巆炱權屾倽昘17炱屜冖 炱侯哰巆炱儻恲70倽岍佬屾倽川屈炱歱傜屾倽哰川屈炱巒傞巆屾倽屜巆憐歱曏屜枙炱岍

29、屾倽巆傞傞炱巒傞娚傜囪屢炱枙娚椗枙17炱憐炱炱屾倽巆/6炱17 炱咾料枙娚攡怔嘝 (侯17 | 70倽屜冪炿70倽壥倽憐夁;扨佀炱椵匋帣夁巁帣 曞奞儯恩呵峊恩峺倧汊歱兵傜屮合半叢18 | 70倽川屈炿夁倽川屈佶炱匋佘70倽壥倽炱佘帣歱岍巁帣4570儖暠庫叴桲杦庫具慍妾憌炱咾料枙娚廂巒傞炱悛暍巒傞悳巒傞巆暍炱70倽恴哰恲暍匛巆炱冖炱歱傜佬巆壾 巆巆炱儻恲巒傞旇僥僥歱佀19 | 70倽巆屜冪暍炿倽Z018壥倽炱佘岍屾屾倽炱帣歱帣曽屜壥炱壥峺椔/炱Z0炱椔悸歱炱儻/悸歱恲扥炱倽佬巒儻椔炱悚悵倽佬炱Z1-ZZ炱倽悚歱倽炱屾歱倽倽盡炱炱恴儻倽佬炱枙娚倽炱枙娚冖倽恴壥巒傞椔32+32+,+32+32+,+

30、32+,+32+椔/32+,+32+傚匛匛奞Z0 | 巒傞傞Z1 | 悚權巒傞 (椔)ZZ | 悚權巒佀 (椔)炿Z018椔/佘椔/Z017-Z018悸炿Z018椔悚炿Z018椔悚巀悸0486咾料佮巒傞炱巀炱巀炱扦娚咾料屇椱壥 炱憖炱吶旇匛儻枙娚巒傞炱枙娚廂巒傞巆暍匛炱恴儻冖料悵1暠桲徛庫具叴存愰巒傞暍匛炱t0%巒傞16恴壥炱80%巒傞Z6恴壥炱巆Z9Z137巒傞旇匛炱巒傞暍恴壥倽椝炱婿恗歱倽倽尺80%t0%1Z34t678910 11 1Z 13 14 1t 16 17 18 19 Z0 Z1 ZZ Z3 Z4 Zt Z6 Z7 Z8 Z9 30 31 3Z 33 34 3t 36 37 3

31、8 39 40 41Z3 | 壥巒傞()炿恪1巒傞昘巒傞47暠懅桲暠晲巒傞匛斳巒倽炱儻旇暍恩咾恲倽巒傞枙娚匛炱Z018扦炱料旇炱木劃変 炱料儂炱枙娚旇料儻料炱恪匛旇料匛炱枙娚恲Z匛匛炱炱炱巒傞 愜婼炱儻恲暍伿1炱/料炱枙娚愜恴壥啝炱盡克幗悵48;佶巆;/ /Z4 | 壥扦料娚巒壥暍炿査Z018扦料扨;炱啶匋佘;炱匋佘婡;倘70桲桲嫳僠慍妾判嘶炱巒巆巆炱儻巒炱倽悵炱枙娚巒傞咾料巆倽壥炱巒傞巆憁佨巒壥暍匛炱巒傞 枙巆枙娚佨70恲70暍扥巒傞佨巒曏炱枙娚攡曏巒攡咾料悳Zt炱巒傞11婡Z恲暍炱巒傞盡曏炱克咾料扦儻巒傞婡炱巒傞恴幗炱咾料旇戫巒傞幗儻巒傞椪仚炱巒傞恴旇幗悵炱悳恠巒傞巆器旇儻巒傞巆器炱悳恠料

32、炱巆悵旇咾料1婡1婡Z1器巆1131器巆1婡Z396;11婡3UZOGZOUT (ORJOTM克炫/TOZOGR )UTYOJKXGZOUT戫炫IZOK +GRGZOUT庈悖廃炫6XK-6XINGYK婿炫權Zt | 壥暍炿巒傞炱4婡巆/器壥炱尺悉壥暍尺炱70%巒傞暍旇壥帳49庫婫炱 炱旇Z0196.18炱尺婡巆恠 婡嶶炱岑岜婟壼6.18暍歱:56炱儻咾料冖曩 婿恗炱儻枙娚婿恗 枙帳 婡 ( 婡 婡 ( 婡悵 岜婟壼冖梌楧/樆椔岜憑/冖/斞楧査憁倧/Z6 | Z019618炿Z0196.18巆巒傞t0婡嶶壥炱尺1.9%咾料佮炱巀炱巀巒惠炱 婼巀枙娚炱凊凊曞巒枙憐壥炱恲炱枙娚恲曞娷彚準廢娷奞炱奞斗

33、庈旇 炱樉奞樉捫奞庁歱僭炱并恵恪夁僭炱夁倽婝炱庁僭峊炱恴儻歱僭倽扨佀炱恴儻倽庁婿恗炱曽奞巒炱婟炱巁憖枙娚 婼巒傞炱恴儻巀懦倪柨倱柖姕柖櫠櫢捃杚橀抿彡櫟柛梪應柛彡娷彡,咨捃櫢映核槨橀倱娷櫢嵵 副乭偑娷櫢柖Z7 | 庁僭峊t1偅y嵟t2炱椱炱峺木佨悸炱巒壥恴岜儻炱枙娚恂屚佬入嘍帤炱恴儻入佬扨炱昘儻帤炱悳恠巤冖炱歱壥咾料婼炱恴儻昘t3 zo19ABa61NB、y孲t4倧悖曏佀夁佃炱佨劃劃婼恠炱悩壦斗 佨仚叼壺扨炱束倧愨(U,漿先斺Z019炱佨炱Z019壥椝尺昘3.t%-4%炱Z018檣倧炱炱 Z019奞扦娚佝憁炱扥悖枏炱奞愜帣帣佘炱曘扥奞柷扦娚佘愜炱嶺扨炱悩歱巁扨 栂槶3.t%a4%奞炱悖歱巁扨栂-

34、3I1OTYK_ -RUHGR ,GYNOUT /TJK(3-,/)-奞Z018-Z019奞壥$枏-僭-3I1OTYK_ -RUHGR ,GYNOUT /TJK(3-,/)t5PART 1Z019妾t6樉壥俰峺炱炱樉壥娚奞栤炭奞奞栤栤炮恩栤壼懦樉炭夁炮壥岜炱樉佬烄 悩悙炱儻帳烄恪炱冖娷棽慐姕婋杤婖儯偄姕樊嬙娷娷汊棽棽愷憑廩奞栤査炱恷壼奲/彄奲炱暋好/好炱壼/偖佫壼壥伻炱扨悸 憐烀儻娘奞奞炭奞奞炮歱栤栤壥啶炱扨圖炱悸恞扨扨扨悸悸悸奞栤炭奞/奞/栤/栤炮扨悸-炿Z0180701-Z0190630樉佀巒t7t8慂棽棽棽慂7慂婖樊棽慂愷憑廩恩栤査炱栤栤恩:恩好恩樉壥伻炱扨悸憐烀栤奞楧恩暋炭恩壼恩壼恩楧

35、壼炮恩樉壥啶炱扨圖炱悸恞悸悸悸扨扨扨恩栤炭恩樉/恩栤炮扨悸-炿Z0180701-Z0190630樉佀巒姕抿櫢姕姕妾橀副勇姚姚妾橀壼査炱冑好夵壥伻炱扨悸憐烀彄冖壼炭彄壼好彄刉炮帳啶炱扨圖炱悸恞烀夁査炱凮夁倧凮夁壥伻炱冖凮夁壥啶悸悸悸扨扨扨懦樉炭壼&夁炮扨悸炿Z0180701-Z0190630樉佀巒5960佬変奞壥係烀彄恲壥憖冖炱漿先斺Z019歱扠屘悉炱恲層斆屜炿悸憁佨炱劃彄帣帣悄扨炱憁木枙巀帤巒傞帤恲3I1OTYK_ :NK 9ZGZK UL ,GYNOUT Z019&+$1*,1*廟枺慟廟橀互桲夁炱奞壥巀曡悆Z0197Z炱奞栤娚料巀 炱伿炱巀楧帤扨柷扨-恷壼奲-:-:-暋好-栤-栤巀Z0197

36、Z壥匋堦炱林柗啶侘炱炱枙恞昘恱楧炱帳楧恲悸壥炱帤扦扦 :-/#11133 :-/#Z377t :-/#Z1704 :-/#6611 冨 :-/#Z7469 :-/#184789-慐姕婋-棽林柗啶 :-/#1370 壼奲 :-/#7tZ374 :-/#37t17曩 :-/#t349半 :-/#t7Zt-7-棽-炿Z0190401-Z0190630樉佀巒旇屨:-/#Z0197Z/Z0187Z*10061)庫$具倧6憏7娷妾慲庫具柂桲憑汊庫具巀悸悆夁峺入炱巒傞恲炱低悶巀匛奞壥悸悙奞栤炱恷壼奲10恗料歱炱悩悙奞:昘炱悩悙儻炱娚岜劃彄炱悛悸悙匛炱恱娚屚巒傞曩炱 凊椯儻憐昘恷壼奲炱巒傞佡婡13Zt斕49愼

37、炱低悶扨歱巒傞炱椔傜暇椱-:-栤-恷壼奲-栤0t 101t Z0Zt 303t 404t t0 tt 606t 707t 808t 909t 10010t 11011t 1Z01Zt 13013t 14014t 1t0 1tt 16016t 17017t 18018t 19019t Z00Z0t Z10Z1t ZZ0ZZt Z30Z3t Z40Z4t Zt0巀悙尺70%-恷壼奲-:-栤-栤13685斕25713749122110-:-栤-恷壼奲-栤01Z 34t 678910111Z13141t 16171819Z0 Z1 ZZ Z3 Z4Zt Z6 Z7 Z8Z9巀巒傞庈-炿Z0190401

38、-Z0190630樉佀巒62,*庽副,7$/僃偎庫具桲庫具桲捁慂喗庫具慂喗庚恲炱帤炱儻 巒傞枙7.tt炱奞壥 枙扦巒傞炱巤冖壥炱枙楧炱枙倽炱昘倽川炱扨恩咾巒傞恩咾巁7.55巤冖炱冢枙廟儖廽慂喗枙楧枙倽昘枙 - :21BB2019g0 320190630)63PART 2庽副慯廟廽曘扥帤悳恠巤冖炱奞壥巀炱椝帉64 廽愳嬴4帤恚炱巒傞婛 廽 召檣炱帳朐炱 匓烀卨悜憖炱996炱悖劃楱惑婛炱屰巒帤廽 愫挿僠 炱恒奄僭儷炱儻曏佀恒帣帣柫悳恠僭儷壥愨炱椹娟佸炱査吶扦廽 炱冖図曩炱怞炱佌悩廽 炱曞劷柋炱堦悳炱悹毞劃帤侕悉炱悜憖椹娟劍劃恲婛椓儻炱潱巒傞奞壥枙炱奞壥巀帤炿屰 01 召慵扯996劃楱惑0Z 愫挿僠

39、 樒嫸豐卦無欝柷03 林柗査巴佬04 卜楧恭6501 嵉0Z 607603 04 67櫢妾妾廽 01 嵉屰巁悖帞曞怔楱惑倧佘喅佬憖層冖怔屰屹扣烀怔嘝巁楱惑奚劃匋炱冀岜炱壺夁炱屰帤奞 炿 1 . 夯佊旇屨巀枙悸恞炱冀巀楧烀Z.半叢吐劃巁匋。巀帤炱椓劃巁烀3. 恞悸帳楧楧。佱歱刉旇屨椝匓恱 楧烀 4 . 怈炱 圮旇屨屰帤炱巀屗尺堦剙#恷壼奲奞夅處#卜#奞栤栤#炭t3t8炮 炭1666炮炭160炮 炭116炮楱炭168炮 夯炭36t炮佊炭Z41炮嘗炭184炮您炭1Zt炮半炭1Z8炮炭1Z9炮洕炭Z66炮吐炭388炮匛炭1t9炮噽叢炭188炮佒炭148炮半炭4t9炮嘝吐侘炭479炮侘炭Z944Z炮召#

40、奞栤壼#奞奲好奞好#炭Z3t4炮炭Zt44炮 炭Z870炮。佱炭337炮炭14Z炮 歱刉炭191炮炭301炮 帄楧炭Z38炮怈炭117炮怈査炭430炮炭160炮圮炭177炮炭1t0炮炭139Z炮炭173炮 側査炭Zt8炮-炿Z0190401-Z0190630樉佀:-/32(7568櫢妾妾廽 0Z 怔毛劃梌炱成炱成炱儻愆娚屹扣怔毛烀斬暃巁婝奚仚椹娟炱岜炱柫悖巽悖劃炱帤樉 炿 1 . 樉 洵歱岜夁恗壼傞烀Z.婝滌滈幗屗尺壾壼廃婝巀烀3.巀悹堦炱斗捫捫炱樉楧奄烀4.佶侳劍悖UKXYOK姏奞冨冨栤夤倧劃姚愰#:好奞#嬸枺嬶#奞栤栤#炭3tt1炮炭141炮炭4Z17炮炭60t炮炭3Z08炮炭Z399炮炭

41、14Z炮炭Z686炮炭Z69炮忿炭117炮炭1ZZ炮婝炭1Z0炮滌滈炭179炮炭14t7炮幗炭313炮匋瀲炭Z178炮壾炭Z96炮炭167t炮旛炭393炮壼廃炭1363炮#:好奞栤#樒嫸豐卦#奞栤#帞炭179炮炭30t炮聲炭173炮斗炭179炮査炭107炮炭Z69炮捫炭4t6炮捫炭138炮UKXYOK炭Z00炮姏炭1Zt炮奞炭t44炮悐。炭178炮冨冨炭36t8炮侌炭Z63炮夤炭490炮夤炭148炮-炿Z0190401-Z0190630樉佀:-/)($5/(6669櫢妾妾廽 03 恒奄炱婼儻侍曞冖炱図曩屹扣烀巁奚壥堦炱劃炱炱炱帤樉炿恴巀倧厊楧巀烀Z.儷伻/6僭屗尺庁堦悹巀帣帣烀3.巀奚査炱匋椵

42、匋暍烀4.巀巁炱堦朩 帞伽炱層堦巍彄樉炱廚#奞栤#倧炭Z44) 厊炭167炮炭49t6炮炭1Z8炮炭704炮恴炭196炮炭144炮炭Zt37炮#:好奞栤#炭13t炮炭667炮吀炭Z99炮朩炭t81炮炭11Z炮帞伽炭Zt6炮 V炭730炮6)炭Z4t炮彚壿#奞栤奞栤恩栤#/6炭1169炮悳炭3Z7炮僭炭t73炮曩扨炭138炮屗尺炭4tt377炮炭139炮儷伻炭Z10炮、#栤栤恩栤#炭13t炮炭667炮吀炭Z99炮朩炭t81炮炭11Z炮帞伽炭Zt6炮 V炭730炮6)炭Z4t炮-炿Z0190401-Z0190630樉佀:-/08/7,9$5,$1770櫢妾妾廽 04 楧炱卨楧炱佌怬炱怬嘍 倧屹扣倧

43、嘍烀楧 炱卨楧炱佌怬炱怬嘍倧 炱帤樉炿1. 楧姿奲滽樉烀Z.巁炱侑側樲佊潔 侑敂半匓扦劷烀 3.夦奞傚佨樉來傔烀4.堦樉悑炿樟喅屶堦炱憖巀夁恗橀楧#奞栤#奞栤奞栤#楧炭197炮炭Z1Z0炮 滽炭ZZ0炮姿奲炭7ZZ炮杙炭163炮炭310炮炭1t8炮炭Z77炮楧炭164炮傚炭3t4炮夦炭3141炮奞炭193炮佼炭138炮 炭363炮佃炭33Z0炮炭110炮偝僉偪傀#:好奞栤#廩#奞栤栤#侑側炭197炮樲佊炭448炮潔炭Z43炮潔炭Z4t炮臥潔炭18t炮侑炭1089炮敂半炭1341炮你炭441炮炭$t000炮 炭408炮樟 (1900) 炭$t000炮 (300)佸炭494炮炭Zt6炮喅炭$t00

44、0炮-炿Z0190401-Z0190630樉佀:-/+(5,7$*(7172PART 3庽副慯儖巀帤炱恱枙娚扨壥扥炱恴儻悵昘巒傞炱川慚廽櫢妾慚廷愹Z5%慚儖 憑曱廽炱樉壥怔帤烀娚怔帞恠Z0%炱栤栤恩栤怔帞恠3t%烀夅處:恷壼奲娘奞恩好怔悸恞18-Z4廷愹35%18-Z4廷愹3O%18-Z4廷愹Z5%18-Z4廷愹ZO%:-/#100 18-Z4恩栤-栤梂凮夁栤/暋栤栤-栤栤-栤栤-歱栤栤奞-:奞-暋好倧凮夁奞-夅處奞-好奞-好夵幪栤恩:奞-:凮夁冑好栤-栤恷壼奲彄奞奞-/恩好奞-好栤-栤栤-歱栤壼/凮夁奞-娘奞奞-6525處恩壼恩奞彄恷壼娚怔悸-炿Z0190401-Z0190630樉佀巒73廽

45、櫢妾儖廷愹40%偟曱 炱樉壥帤烀娚3佘倽帞恠40%炱來昘帤奞壥扦娚倽廷愹5O%倽廷愹45%倽廷愹4O%74:-/#100凮夁彄恷壼恩奞凮夁栤-歱栤栤-栤栤奞-/倧凮夁栤-栤栤-栤栤-栤栤-歱栤幪栤壼/奞-:恩壼/處恩:奞-好奞-:奞-好恷壼奲奞-暋好恩好奞-好奞-娘奞奞-夅處梂凮夁冑好夵彄奞奞-6525處栤/暋栤恩栤-栤 佘 佘娚佘悸-炿Z0190401-Z0190630樉佀巒倸憑儖倽炱奞壥娚瀝佀恴壥烀佟倽婝倽昘恴壥炱倽您歱炱悸炱炱屾倽您憐炱悸恞炱 炱傜囪暍恲炱奞壥娚倽07Z5捃30-34佘40+佘3t-39佘Zt-Z9佘+40+佘+3t-39佘+30-34佘+Zt-Z9佘3t-39佘40+佘

46、30-34佘Zt-Z9佘18-Z4佘18-Z4佘+18-Z4佘倽慚儖娷庫; 儖棽l棽奞炱18-Z4怔倽嶺佘佘怔倽奞烀佘 18-Z4倽奞歱悸烀栤炱歱栤扦怔炱30-40栤栤悸憐烶佀18-Z4佘佘劌佘Z5-Z9佘佘劌佘30-34佘佘劌佘35-39佘佘劌佘40佘佘劌佘恷壼奲好娘奞/:栤栤歱栤啶匋炭;昘炮炱匋炭;昘炮炱椵匋帣夁屾佟;屾帣炭炿Z0190401-Z0190630樉佀巒炮棽慚儖娷庫儖棽奞炱18-Z4怔倽嶺佘佘怔倽奞烀佘 18-Z4倽奞歱悸烀栤炱倽悸炱烶佀佘18-Z4佘劌佘佘Z5-Z9佘劌佘佘30-34佘劌佘佘35-39佘劌佘佘40佘劌佘:6525處夅處暋好好栤栤歱栤啶匋炭;昘炮炱匋炭;昘炮炱椵

47、匋帣夁屾佟;屾帣炭炿Z0190401-Z0190630樉佀巒炮76慚儖; 思娷慂娷棽儖恩栤炱佘佘怔倽恩烀佘18-Z4倽恩歱悸烀30-39倽彄奞恩奞栤悸炱屾烶佀18-Z4Z5-Z930-3440佘佘劌佘佘佘劌佘佘佘劌佘佘35-佘39 劌佘佘佘劌佘恩:恩好彄奞恩奞恩壼/處幪栤栤/暋栤栤栤啶匋炭;昘炮炱匋炭;昘炮炱椵匋帣夁屾佟;屾帣炭炿Z0190401-Z0190630樉佀巒炮姕l姚慚儖姕儖姚壼炱佘佘怔倽壼烀佘18-Z4倽恩歱悸烀彄壼曽炱斚夁炱佘倽您歱炱悸炱烶佀18-Z4佘佘劌佘Z5-Z9佘佘劌佘30-34佘佘劌佘35-39佘佘劌佘40佘佘劌佘冑好壼/夵彄恷壼凮夁凮夁倧凮夁梂凮夁啶匋炭;昘炮炱匋炭;

48、昘炮炱椵匋帣夁屾佟;屾帣炭炿Z0190401-Z0190630樉佀巒炮77PART 4庽副慂喗78奞壥佘帳扨恩咾炱扨扨扥恠恴壥婿烀 扨恩咾炱岜巒傞恩咾炱悳恠冖咾料査巤冖炱巒傞炱昘恩咾曎慂喗慂惞汊慂喗娷嫳副慂喗奞巒傞扨炱娚恩咾 扨壺劃彄 扨炱冖炱 悸炱奞壥恩咾炱恩炭恩好恩:炮恩咾 憐炱劃彄扨屋炱來昘烀奞扨炱憐炱悸恞炱恩咾娚慂喗慂喗冖娚冖悸-炿恪炭Z0160701-Z0190630炮樉佀巒壥悸悸悸79挿庫廢棐娚岜恩咾炱 屋烄樉壥娚倽柷倽恴壥炱倽嶺歱柷倽炱倽巆恵歱柷倽恲炱盡炱屳昘川倽MS柷MS巆柷巆恩:恩好栤栤冑凮夁栤壼/奞栤/暋栤:栤暋好栤恷壼奲娚柷-炿恪炭Z0180701-Z0190630炮樉佀

49、巒壥晬倇炱冖扥炱烀 冖扥烀冖炱梌屈炱枙娚恴屣佬斕炱暍壥 斕壥炱尺壥斕炱歱壥 歱炱彄歱歱炱炱屳歱烀彄歱炱炱炱斕暍彄炱惔怪冖奄$壥壥$80傞恲斕-炿斕恪180斕壥尺倥惞汊庚捁挿嫳斕炱屓巆巀扨炱巆椪炱恱炱憖恵歱曽炱斕壥 愜夁炿屓斕婡器巆恱斕愜婿暞岔扨炱炱炱枙娚佌幸悵歱巁扨岜 炱侍佬扨巆椪巆婡器巆婿扨扨壥-炿斕恪恩巒枷偅; 倘19%倘70%愼佬烄恩咾憐恩栤炱尺夁佬炱佝傜炱曞佬夁炱 19%炱70%炱伿11%烀佬炱17%炱67%炱 16%枷 19% 7O%5% 17% 7%7%9%81慍惞=.?娚恩咾歱巁扨炱巒傞恩咾暇椱.5=炿冖恴倽悵悳巀悳暍悳愜恲査炱屮屁5LJKW 3URGXFW廟5LJKW 0RPH

50、QW杦5LJKW 3ODFH廟惞杦憑惞懅汊惞惞廟惞挿嫳檣巀査扦婝悵炱椝炱悵儂炱椝*-JG_悸炱來曽炱巀悵娚炱巆 巀炱扨悵巆巀束:56Z0巀巀婝悵扦娚82椝椝-14-13-1Z-11-10-9-8-7-6-t-4-3-Z-1*-JG_1Z34t678910111Z1314扦恠-炿Z019暍巒 悵巀巀悵-炿Z019巀巒83杦副憂暍査斕悵暍炱11暍炱恲悵帣帣昘炭18悵 10-11炱19悵9-11 炮悵冖悩炱暍巁扨匈炿暍彄婼巒傞炱恲暍巒傞冖炱悵憐歱枙娚炱恴壥來恩咾侍惞斕恪悵暍Z01606Z01607 Z01608 Z01609 Z01610 Z01611 Z0161Z Z01701 Z0170Z Z0

51、1703 Z01704 Z0170t Z01706 Z01707 Z01708 Z01709 Z01710 Z01711 Z0171Z Z01801 Z0180Z Z01803 Z01804 Z0180t Z01806 Z01807 Z01808 Z01809 Z01810 Z01811 Z0181Z Z01901 Z0190Z Z01903 Z01904 Z0190t Z01906-炿恪炭Z01606-Z01906炮巒壥懅挿嫳嗉五庫懅惞愜査木愜扨悸昘炱愜悵査扦娚恩栤炱愜劃扨炱愜悵扨 炱巀愜恴壥悵炱巒愜炭悳忿 炮歱悵叩叩Z01tZ018劃佬巀 劃佬悳忿 84恪扨昘炭6婟婫炮炿曘扥束Z018川傞

52、恩栤扨悵恩栤愜巒扨悵-曘扥9*9暸3)3603彡惞五懅彡懅彡70%悵庈3愜婿婿斗庈倇炱婿斗庈暍悵倇愜巀炱愜斕曡巁憖冖歱悵扨 7t%75%巒傞3悵1Z 34t 678910111Z13141t 16171819Z0婿庈庈暍庈檣-巒-巒-巒巀悵昘惞悵庈愜婫匋-曘扥9*9暸3)360愰悉岍炱愜悵扦娚愼 愜巒傞悳冖恩炱叩炱恗炱婟椪恗屾斕恗屇愜悵炱傜囪屾恗恗傞斕恗-Z019巒壥85偅y嵟庽副巤冖炱冢枙廟儖廽慂喗枙娚枙倽昘枙86岜愼炱劍佀冖扨壥匋冢枙炱壥傞恗椝巀帤倽 巒傞恩咾傜奞壥曘扥帳昘炱奞壥曘扥扦娚炱炱巤冖炱奞 栂87 2o1Pa$11M、y孲妾倧庫廽偙偟噞豐憌捁暠叴桲刖Z019楸樇壥低炱巒來恠壥帤炱

53、炱巒帤恲恠炱枙娚壥低佟炱扨壥懶戰栂楧炱巁岍炱娚炿岬炱旇佘炱巍悳炱恲岬炱旇咾料匛炱扦料扨悳巒傞斗佸炱巒傞溼炱悳恠匛椝斳88PART 1妾89椶 昘昘 #0!_#GM椶歱壥扨炱枏楸査炱歱悸昘炱壥憐 婛枏楸漿樇叏懫査椶1 | Z019楸樇壥娚佀椶悸庫具櫠橑吣庫妾倱壥歱悸昘娚査炿巒佀扨伻巒傞樇楸半巒炱佘楸炱巒佀扨伻恲儺扨樇楸壥佘倽扨悸扨悸扨悸0%樕/剁峟/嗅呵/垵樈/戃/儢/儢凈/枏楸 /巀枏楸/洘洕/洕/楸噮/漿/樇 悸/峟/楸樇叏 /半叢/叏潪叏伻叏 潝叏 侘叏 瀲叏楸懫懫潝懫懦懫/懫懫哺咝懫懫悸楸/怞/楸/査/巀/儢巀楸/岜岜/戊/ 枏楸 樇 叏 懫 90Z | Z019椶婼91佘巒佘曩巀曩炱巒

54、傞枙巒佨佈巆炱悢咾悹炱僭儷悸炱佸欅捫枙屓佨悛炱巒帤炱巒傞庁盡盡溼冖佲朵侃盡冖佲恠炿曏枙 炿庁枙妾廽捁凌廩儻楸樇壥炱巒傞炱枙楸樇巒帤冖佲枙壦巁巒枙壦巒侃枙壦巒盡枙壦巒儻炱恲巒低恴巁巒巒巒巒汊慍豐卦召橑庫曱檣巁巒炱巒傞巁悖帣戃忿冏恲歱巀炱傞僌咜恲劍匓炱軍漿楸炱憖悸昘樇楸壥佟炱歱恴劍匓楸巁巒扨昘忿恱儷伻壥岆炱楸樇巒曩巒彄炱儻巒傞巁 屨 悳 歱軍 匓 歱椶佸剁楸娘儢椶樕 戃哳樕卭樕忿椶榩軍咾悸漿榩壾攲軍凊軍 係峐軍樊劃僌我呥坤劃咜歱冏坤3 | Z019枏楸巀椶92椶4 | Z019樇巀椶悳 歱軍 匓 歱椶/半叢叏敚婛梌捫欨侘叏伻夦娘瀲佝半叏叏塓潪叏曌叏t | Z019叏巀椶椶懫哺咝懫椶懫潝懫懦懫/懫楸

55、懫懫懫/懫椝岜溺懫懫懫93椶6 | Z019懫巀椶巒傞曽歱炱佟壥 帤炱攡佟倽楸歱昘楸楸樇楸枙札炱巒帣佟攡倽劃斞炱恪柷恲佨炱倽佟炱憖壥悹炱恲悹歱娚+7%+1%+140%+5%+1Z8%思+130%+5%關7 | Z019樇楸壥椶悸娷橀廽庫具橑架曽巁巒炱巒低炱巒傞悖洵欥婟婢炱奞楧劍佟盡楧炱炱悩壥奞奞椵枙炱佨楸傞巀恗炱奞怖炱巒傞94-3-3 悸 橑尺歱椵楧10 | Z019樇楸壥椶婢炱佘炱佸婝佨幌巒枙炱劌愜坤潝劆溺瀲圗昘悸呵枏楸炱楸樇壥庁坤潝昘樲瀲樞椶呹咶垵娟 呹呵溺儢潝樲叢嘝吐垵潪劆 匫瀲圗樲 潪品 匈我呋溺叢聽溺樲嗅樲樲懟潔懟椶歱垛垵叏樲匶昘8 | Z019樇楸壥椶悸夁-3扨9 | 瀲圗;扨慐慣

56、庫具崻姚愰樇楸幌劃炱恱怖侃巒扦婟婢婢屢炱 巒巒傞屢夁恗檣炱樇楸恷怖 炱匛帣扦炱悳恠悚恷炱儻楸帣帣扦娚婫匋匛炱楸枙扨昘炱匛匛幗峺炱匛炱楸巆炱楸恴炱恱恪并95Z019;扨匛炱楸枙+78%坤匛匛 匛tZ0匛:-/#111 | Z019樇楸壥悚;扨炭巆:-/炮橑慣挿停厄傅孕停楸怖倽侃炱楸怖帣帣侃斞炱匛炱悸楸冖恱囪炱婼楸枙扨匛炱戫冪枏楸枙歱楸侃炱劫儂婼侃楸樇來曋楸+Zt9%楸+164%婼楸+71%婼楸 ; Y儷:-/#1楸 ;1Z | Z019樇楸壥佟椶悸庫庫具思崖巁巒炱恱恴壦巒帤巒3恴炱彄木梌伻儷伻炱巒昘/6巒歱昘炱巒傞悳恠巒彄盡夁昘炱巒傞枙炱巒梌儷伻彄+6t%/6+4Z%楧+1t1%庁伻9613 |

57、 Z019樇楸壥佟椶悸喗晲挿咻嘶憌愹準杦愷憑巒悹炱巒傞悳炱愼咾料椔娚崗椱咾料暍恞悸炱柹屶椱帳炱暍咾料帳柷扦娚叢啝咾料曏帳柷扦娚炱勅1-Z炱佨叢炱婿恗炱悳恠咾料僭炱炱屶椱悩悙炱恲杗悳恠匛帳炱暍柷扦娚悹炱娚恲咾料匛巒咾料匛1-Z叢啝僭巆婡9714 | 樇楸/6咾料1-Z叢啝僭1t | 樇楸庁咾料98庫慚慚互兾思姩汊儷伻咾料恠炱佬巒倽炱僳巒倽咾料炱怔倽悳炱歱炱儻/6炱憖炱洵炱悖壥彄埧洕墑9t908t8080儷巒彄儷巒彄16 | 瀝17 | 18 | 妾廽棄慯廨妾廽捁愼恲巁巒巒侃巒巒帤炱扦娚烄佀炱巒傞壥昘炱帤悸憖娚歱佘炱幪恲冖幸佸盡侃巒盡巒憖冖佲巁巒巒19 | Z019樇楸壥佟悸PART 2嬳喗晲庽副

58、楧炱冖幪巻恲烄炱幸咾料婚炱咾料巤冖99暹棄劣慍妾無柫恴壥凊壥凊炱僭帞凊炱恴炱歱悸庁悵炱權壥3-6佘巒傞凊佘暍侳炱暋暍奮炱悖兂1-Z佘憖倽佨幸恠恴壥凊壥凊僭帞凊炱恴査倽炱娚佸庈冖盡咾料娚佘恴壥炱悩庈佘悛 楸樇壥咾料炱楸樇壥100櫠橑妾汊憑刾挿嫳捁慍倱庫檣壥佨炱樇楸壥昘帤炱 佀憖昘炱楸壥悸憖娚佘炱扨佘巒婚壥昘扦娚炱咾料扦娚嵐巻佘炱嵐冖壥斤39%100%18%100%椶悸 100%歱憖悸 100%歱憖扨悸 18%歱憖巀悸 39%歱憖Z0 | Z019樇楸壥椶昘炭9憖炮炱憖惠暍炱楸樇壥您恱憖炱佘憐暍悸炱楸樇壥您昘悸歱憖炱岍巒惔怪炱壥惠槶峘 (Z0%)倽您悸 (3-6佘 $ 1-Z佘) (10%)儢洵嗅

59、樇査庈佘枏楸懫倽您 (3-6佘 $ 1-Z佘)倽您 (3-6佘 1-Z佘)奞奞栤榩樇樉倧奞栤。倧樲儽 (Z0%)倽您悸 (3-6佘 1-Z佘)Z1 | Z019儷您您悸炭9憖炮 (Z0%)101挄庫桲査恲炱屾烄咾料旇暍炱戫巒枙5OMNZ - 0USKTZ 5OMNZ - $JOKTIK 5OMNZ - 3RGIK 5OMNZ - 6OZGZOUT岜 存炱柫匛炱996悄炱奮暍暋巒柫暍僭儷暍炱凊倇恲曞暍恴壥炱儻僭儷恲図暍炱壥壦 僭儷炱佡櫝僭儷楧娚炱僭儷娚暍102悳暋悳Z301Z34t678910 11 1Z 13 14 1t 16 17 18 19 Z0 Z1 ZZ悳悳暋柫憖柫277廷55%婟椪帉無柫 成幜昘炱佘幜暍帣帣昘炱無柫婛暍帣帣 炱婛帞恠1倽帞恠t8%炭 佨帞恠tt%炱婿扦娚愜炮成無柫無柫昘 (Y) 無柫 憖柫