{"id":11091,"date":"2025-12-28T20:09:50","date_gmt":"2025-12-28T12:09:50","guid":{"rendered":"https:\/\/www.invbus.com\/blog\/?p=11091"},"modified":"2025-12-28T20:09:50","modified_gmt":"2025-12-28T12:09:50","slug":"%e7%a7%92%e6%87%82%e6%ae%b5%e6%b0%b8%e5%b9%b3%ef%bc%9a%e4%b9%b0%e8%82%a1%e7%a5%a8%e5%b0%b1%e6%98%af%e4%b9%b0%e5%85%ac%e5%8f%b8%ef%bc%8c%e8%bf%99%e4%b8%aa-%e6%b0%b4%e6%9e%9c%e5%ba%97","status":"publish","type":"post","link":"https:\/\/www.invbus.com\/blog\/?p=11091","title":{"rendered":"\u79d2\u61c2\u6bb5\u6c38\u5e73\uff1a\u4e70\u80a1\u7968\u5c31\u662f\u4e70\u516c\u53f8\uff0c\u8fd9\u4e2a \u201c\u6c34\u679c\u5e97\u201d 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class=\"wp-block-list\">\n<li>\u73b0\u5728\uff0c\u6211\u4eec\u628a\u8fd9\u5bb6\u6c34\u679c\u5e97<strong>\u672a\u6765\u51e0\u5341\u5e74<\/strong>\u53ef\u80fd\u8d5a\u5230\u7684\u6240\u6709\u94b1\uff08\u73b0\u91d1\u6d41\uff09\uff0c<strong>\u5168\u90e8\u6298\u73b0\u6210\u4eca\u5929\u7684\u4ef7\u503c<\/strong>\uff0c\u7136\u540e\u52a0\u603b\u3002<\/li>\n\n\n\n<li>\u8fd9\u4e2a\u52a0\u603b\u540e\u7684\u6570\u5b57\uff0c\u5c31\u662f\u8fd9\u5bb6\u6c34\u679c\u5e97<strong>\u5185\u5728\u7684\u3001\u771f\u6b63\u7684\u4ef7\u503c<\/strong>\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><em>PS:\u6bb5\u6c38\u5e73\u5f3a\u8c03\u4e0d\u662f\u771f\u6b63\u7528DCF\u8ba1\u7b97\u51fa\u516c\u53f8\u7684\u5185\u5728\u4ef7\u503c\uff08\u5f88\u590d\u6742\u800c\u4e14\u4e0d\u51c6\u786e\uff09\uff0c\u800c\u662f\u5728\u4f60\u770b\u61c2\u8fd9\u5bb6\u516c\u53f8\uff08<\/em><em>\u770b\u61c2\u5176\u672a\u6765\u73b0\u91d1\u6d41<\/em><em>\uff09\u7684\u524d\u63d0\u4e0b\uff0c\u8bd5\u7740\u5f80\u8fdc\u5904\u770b\uff0c\u770b10\u5e74\u300120\u5e74\u3002\u598210\u5e74\u540e\u8fd9\u5bb6\u516c\u53f8\u8425\u4e1a\u989d\u548c\u5229\u6da6\u90fd\u4e0d\u4f4e\u4e8e\u4eca\u5929\uff0c\u8fd9\u662f\u5bb6\u597d\u516c\u53f8\u3002\u6bb5\u4e3e\u4e86\u82f9\u679c\u3001\u8305\u53f0\u3001\u817e\u8baf\u7b49\u516c\u53f8\u7684\u4f8b\u5b50\u3002<\/em><\/p>\n\n\n\n<p><strong>3. 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class=\"wp-block-list\">\n<li><strong>\u8eab\u4efd\u8f6c\u53d8<\/strong>\uff1a\u522b\u628a\u81ea\u5df1\u5f53\u80a1\u6c11\uff0c\u628a\u81ea\u5df1\u5f53\u6210\u516c\u53f8\u7684<strong>\u8001\u677f\u4e4b\u4e00<\/strong>\u3002\u4f60\u4e70\u80a1\u7968\u5c31\u662f\u5728\u548c\u4eba\u5408\u4f19\u505a\u751f\u610f\u3002<\/li>\n\n\n\n<li><strong>\u5173\u6ce8\u6838\u5fc3<\/strong>\uff1a\u751f\u610f\u7684\u6838\u5fc3\u662f<strong>\u8d5a\u94b1<\/strong>\uff08\u4ea7\u751f\u73b0\u91d1\u6d41\uff09\uff0c\u800c\u4e0d\u662f\u80a1\u4ef7\u7684\u6ce2\u52a8\u3002\u4f60\u8981\u5173\u5fc3\u7684\u662f\u8fd9\u5bb6\u516c\u53f8\u672a\u6765\u80fd\u4e0d\u80fd\u4e00\u76f4\u8d5a\u5f88\u591a\u94b1\uff08\u6709\u6ca1\u6709\u201c\u62a4\u57ce\u6cb3\u201d\uff09\u3002<\/li>\n\n\n\n<li><strong>\u7b97\u8d26<\/strong>\uff1a\u4f60\u8981\u5927\u6982\u4f30\u7b97\u4e00\u4e0b\uff0c\u8fd9\u5bb6\u516c\u53f8\u672a\u6765\u4e00\u8f88\u5b50\u80fd\u8d5a\u56de\u591a\u5c11\u771f\u91d1\u767d\u94f6\uff0c\u5e76\u628a\u5b83\u6362\u7b97\u6210\u4eca\u5929\u7684\u4ef7\u503c\uff08\u5185\u5728\u4ef7\u503c\uff09\u3002<\/li>\n\n\n\n<li><strong>\u7b49\u5f85\u597d\u4ef7\u683c<\/strong>\uff1a\u53ea\u5728\u5e02\u573a\u4ef7\u683c<strong>\u8fdc\u8fdc\u4f4e\u4e8e<\/strong>\u4f60\u7b97\u51fa\u7684\u8fd9\u4e2a\u5185\u5728\u4ef7\u503c\u65f6\u4e70\u5165\u3002\u8fd9\u76f8\u5f53\u4e8e\u201c\u6361\u4fbf\u5b9c\u8d27\u201d\u6216\u8005\u201c\u5b89\u5168\u8fb9\u9645\u201d\u3002<\/li>\n<\/ol>\n\n\n\n<p><strong>\u6240\u4ee5\uff0c\u6838\u5fc3\u7406\u5ff5\u5c31\u662f\uff1a<\/strong><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>\u5fd8\u8bb0\u80a1\u4ef7\u7684\u6ce2\u52a8\u3002\u627e\u5230\u4e00\u5bb6\u597d\u516c\u53f8\uff08\u672a\u6765\u80fd\u6301\u7eed\u8d5a\u5927\u94b1\u7684\u751f\u610f\uff09\uff0c\u5728\u5b83\u4ef7\u683c\u5927\u6253\u6298\u6263\u65f6\uff0c\u4e70\u5165\u5b83\u7684\u6240\u6709\u6743\uff0c\u7136\u540e\u50cf\u8001\u677f\u4e00\u6837\u957f\u671f\u6301\u6709\uff0c\u5206\u4eab\u5b83\u672a\u6765\u4e0d\u65ad\u521b\u9020\u7684\u8d22\u5bcc\u3002<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p>\u8fd9\u9700\u8981\u6781\u5f3a\u7684\u8010\u5fc3\u3001\u5bf9<strong>\u4e1a\u52a1\u7684\u6df1\u523b\u7406\u89e3\u529b<\/strong>\u548c\u4e0d\u53d7\u5e02\u573a\u60c5\u7eea\u5f71\u54cd\u7684\u51b7\u9759\u3002\u8fd9\u5c31\u662f\u4e3a\u4ec0\u4e48\u4ed6\u5e38\u8bf4<strong>\u6295\u8d44\u5f88\u7b80\u5355\uff0c\u4f46\u5e76\u4e0d\u5bb9\u6613<\/strong>\u3002\u7b80\u5355\u5728\u4e8e\u9053\u7406\u4e00\u76ee\u4e86\u7136\uff0c\u4e0d\u5bb9\u6613\u5728\u4e8e\u4eba\u6027\u8ba9\u6211\u4eec\u603b\u662f\u8ffd\u9010\u6da8\u8dcc\uff0c\u96be\u4ee5\u8df5\u884c\u8fd9\u4e9b\u7b80\u5355\u7684\u9053\u7406\u3002<\/p>\n\n\n\n<p><strong>\u672a\u6765\u51e0\u5341\u5e74\u53ef\u80fd\u8d5a\u5230\u7684\u6240\u6709\u94b1\uff0c\u8fd9\u4e2a\u65f6\u95f4\u5468\u671f\u662f\u591a\u4e45\uff1f\u548cPE\u7684\u5173\u7cfb\u662f\uff1f<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. \u65f6\u95f4\u5468\u671f\u4e00\u822c\u591a\u4e45\uff1f\u2014\u2014\u201c\u7406\u8bba\u4e0a\u201d\u4e0e\u201c\u5b9e\u9645\u4e0a\u201d<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7406\u8bba\u4e0a\uff1a\u6c38\u7eed\uff08Forever\uff09<\/strong><br>\u5728\u4e25\u683c\u7684\u8d22\u52a1\u6a21\u578b\uff08DCF\u6a21\u578b\uff09\u4e2d\uff0c\u4e3a\u4e86\u5b8c\u5168\u6355\u83b7\u4e00\u5bb6\u516c\u53f8\u7684\u6240\u6709\u4ef7\u503c\uff0c\u5206\u6790\u5e08\u786e\u5b9e\u4f1a\u5c1d\u8bd5\u9884\u6d4b\u672a\u6765<strong>\u6240\u6709\u5e74\u4efd<\/strong>\u7684\u73b0\u91d1\u6d41\uff0c\u76f4\u5230\u6c38\u8fdc\u3002\u8fd9\u662f\u56e0\u4e3a\u4e00\u5bb6\u4f18\u79c0\u7684\u516c\u53f8\uff0c\u7406\u8bba\u4e0a\u662f\u53ef\u4ee5\u957f\u671f\u5b58\u5728\u5e76\u6301\u7eed\u76c8\u5229\u7684\uff08\u4f8b\u5982\u53ef\u53e3\u53ef\u4e50\u3001\u8305\u53f0\uff09\u3002<br><\/li>\n\n\n\n<li>\u6a21\u578b\u901a\u5e38\u4f1a\u5206\u4e3a\u4e24\u6bb5\uff1a\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>\u8be6\u7ec6\u9884\u6d4b\u671f\uff08\u901a\u5e385-10\u5e74\uff09<\/strong>\uff1a\u8fd9\u662f\u6211\u4eec\u53ef\u4ee5\u76f8\u5bf9\u6709\u4fe1\u5fc3\u8fdb\u884c\u9884\u6d4b\u7684\u9636\u6bb5\u3002\u5206\u6790\u5e08\u4f1a\u6df1\u5165\u7814\u7a76\u516c\u53f8\u3001\u884c\u4e1a\u3001\u7ade\u4e89\u683c\u5c40\uff0c\u5bf9\u8fd9\u51e0\u5e74\u6bcf\u5e74\u7684\u589e\u957f\u7387\u548c\u76c8\u5229\u80fd\u529b\u505a\u51fa\u4f30\u7b97\u3002<\/li>\n\n\n\n<li><strong>\u6c38\u7eed\u589e\u957f\u671f\uff08Terminal Value\uff09<\/strong>\uff1a10\u5e74\u4e4b\u540e\u7684\u4e8b\u60c5\u592a\u96be\u9884\u6d4b\u4e86\u3002\u56e0\u6b64\uff0c\u6a21\u578b\u4f1a\u5047\u8bbe\u4ece\u67d0\u4e2a\u65f6\u95f4\u70b9\u5f00\u59cb\uff0c\u516c\u53f8\u8fdb\u5165\u4e00\u4e2a\u975e\u5e38\u7a33\u5b9a\u3001\u7f13\u6162\u589e\u957f\u7684\u9636\u6bb5\uff08\u6bd4\u5982\u6bcf\u5e74\u589e\u957f2%\uff0c\u4ec5\u7565\u9ad8\u4e8e\u901a\u8d27\u81a8\u80c0\u7387\uff09\uff0c\u7136\u540e\u7528\u4e00\u4e2a\u516c\u5f0f\u5c06\u65e0\u9650\u8fdc\u7684\u672a\u6765\u73b0\u91d1\u6d41\u6298\u7b97\u6210\u4e00\u4e2a\u201c\u7ec8\u503c\u201d\uff0c\u52a0\u603b\u5230\u524d\u51e0\u5e74\u7684\u73b0\u91d1\u6d41\u73b0\u503c\u4e0a\u3002<\/li>\n<\/ol>\n<\/li>\n\n\n\n<li><strong>\u5b9e\u9645\u4e0a\uff1a\u4e13\u6ce8\u4e8e\u201c\u80fd\u529b\u5708\u201d\u5185\u7684\u53ef\u9884\u6d4b\u671f<\/strong><br>\u8fd9\u624d\u662f\u6bb5\u6c38\u5e73\u7b49\u4ef7\u503c\u6295\u8d44\u8005\u771f\u6b63\u7684\u601d\u8003\u65b9\u5f0f\u3002\u4ed6\u4eec\u4e0d\u4f1a\u771f\u7684\u53bb\u62ffExcel\u8868\u8ba1\u7b97\u672a\u676550\u5e74\u7684\u73b0\u91d1\u6d41\u3002<br><strong>\u6838\u5fc3\u4e0d\u662f\u7cbe\u786e\u8ba1\u7b97\u5e74\u9650\uff0c\u800c\u662f\u5224\u65ad\u8fd9\u5bb6\u516c\u53f8\u662f\u5426\u5177\u5907\u201c\u6301\u7eed\u8d5a\u53d6\u8d85\u989d\u5229\u6da6\u7684\u80fd\u529b\u201d\uff0c\u4ee5\u53ca\u8fd9\u4e2a\u80fd\u529b\u80fd\u7ef4\u6301\u591a\u4e45\u3002<\/strong><ul><li><strong>\u8305\u53f0<\/strong>\uff1a\u5b83\u7684\u54c1\u724c\u3001\u5de5\u827a\u3001\u6587\u5316\u5e95\u8574\u5e26\u6765\u7684\u62a4\u57ce\u6cb3\uff0c\u8ba9\u4eba\u76f8\u4fe110\u5e74\u540e\u300120\u5e74\u540e\u5b83\u4f9d\u7136\u4f1a\u662f\u975e\u5e38\u8d5a\u94b1\u7684\u516c\u53f8\u3002\u8fd9\u4e2a\u201c\u672a\u6765\u201d\u5c31\u5f88\u957f\u3002<\/li><li><strong>\u4e00\u5bb6\u70ed\u95e8\u79d1\u6280\u516c\u53f8<\/strong>\uff1a\u53ef\u80fd\u6280\u672f\u8fed\u4ee3\u5f88\u5feb\uff0c\u6211\u4eec\u5f88\u96be\u770b\u6e053\u5e74\u540e\u7684\u683c\u5c40\u3002\u5b83\u7684\u201c\u53ef\u9884\u6d4b\u671f\u201d\u5c31\u5f88\u77ed\u3002<\/li><\/ul>\n<ul class=\"wp-block-list\">\n<li><strong>\u5173\u952e\u95ee\u9898<\/strong>\uff1a\u6211\u4eec\u80fd\u5426\u5f88\u6709\u4fe1\u5fc3\u5730\u5224\u65ad\uff0c\u8fd9\u5bb6\u516c\u53f8\u57285\u5e74\u300110\u5e74\u540e\uff0c\u751a\u81f3\u66f4\u4e45\u4e4b\u540e\uff0c\u5b83\u7684\u751f\u610f\u6a21\u5f0f\u4f9d\u7136\u7262\u56fa\uff0c\u7ade\u4e89\u4f18\u52bf\uff08\u62a4\u57ce\u6cb3\uff09\u4f9d\u7136\u5f3a\u5927\uff1f<\/li>\n\n\n\n<li><strong>\u4f8b\u5b50<\/strong>\uff1a<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>\u6240\u4ee5\uff0c\u901a\u4fd7\u7406\u89e3\u8fd9\u4e2a\u201c\u65f6\u95f4\u5468\u671f\u201d\uff1a\u5b83\u6307\u7684\u662f\u4f60\u5bf9\u8fd9\u5bb6\u516c\u53f8<\/strong>\u7ade\u4e89\u4f18\u52bf\u53ef\u6301\u7eed\u6027\u7684\u4fe1\u5fc3\u671f\u9650\u3002\u4f60\u6295\u8d44\u7684\u5c31\u662f\u8fd9\u6bb5\u671f\u9650\u5185\u5b83\u6240\u80fd\u521b\u9020\u7684\u5de8\u5927\u4ef7\u503c\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. \u548cPE\uff08\u5e02\u76c8\u7387\uff09\u662f\u4e0d\u662f\u6709\u4e00\u5b9a\u5173\u7cfb\uff1f<\/h3>\n\n\n\n<p><strong>\u6709\u975e\u5e38\u5bc6\u5207\u7684\u5173\u7cfb\uff01PE\u53ef\u4ee5\u770b\u4f5c\u662f\u672a\u6765\u73b0\u91d1\u6d41\u6298\u73b0\uff08DCF\uff09\u6a21\u578b\u7684\u4e00\u4e2a\u9ad8\u5ea6\u7b80\u5316\u7684\u5feb\u7167\u3002<\/strong><\/p>\n\n\n\n<p>\u4f60\u53ef\u4ee5\u628aPE\u7406\u89e3\u6210DCF\u8fd9\u4e2a\u201c\u5b8c\u6574\u7535\u5f71\u201d\u7684\u201c\u67d0\u4e00\u5e27\u5b9a\u683c\u753b\u9762\u201d\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>PE\uff08\u5e02\u76c8\u7387\uff09 = \u80a1\u4ef7 \/ \u6bcf\u80a1\u6536\u76ca<\/strong>\n<ul class=\"wp-block-list\">\n<li>\u5b83\u7684\u542b\u4e49\u662f\uff1a\u6309\u7167\u516c\u53f8\u5f53\u524d\u7684\u76c8\u5229\u80fd\u529b\uff0c\u4f60\u6295\u8d44\u5b83\u591a\u5c11\u5e74\u80fd\u56de\u672c\uff08\u4e0d\u8003\u8651\u589e\u957f\uff09\u3002<\/li>\n\n\n\n<li>\u4f8b\u5982\uff0cPE\u4e3a15\uff0c\u610f\u5473\u7740\u5047\u8bbe\u516c\u53f8\u6bcf\u5e74\u5229\u6da6\u4e0d\u53d8\uff0c\u4f60\u9700\u898115\u5e74\u6536\u56de\u6210\u672c\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>DCF\uff08\u73b0\u91d1\u6d41\u6298\u73b0\uff09 vs PE<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>DCF\u662f\u52a8\u6001\u7684\u3001\u5305\u542b\u589e\u957f\u7684<\/strong>\uff1aDCF\u6a21\u578b\u5305\u542b\u4e86<strong>\u672a\u6765\u591a\u5e74\u7684\u589e\u957f\u7387\u3001\u672a\u6765\u7684\u76c8\u5229\u80fd\u529b\u3001\u8d44\u91d1\u7684\u65f6\u95f4\u4ef7\u503c\uff08\u6298\u73b0\u7387\uff09<\/strong>\u00a0\u6240\u6709\u8fd9\u4e9b\u5173\u952e\u53d8\u91cf\u3002<\/li>\n\n\n\n<li><strong>PE\u662f\u9759\u6001\u7684\u3001\u4e0d\u542b\u589e\u957f\u7684<\/strong>\uff1aPE\u53ea\u7528\u4e86<strong>\u5f53\u524d\u4e00\u5e74\u7684\u76c8\u5229<\/strong>\u6570\u636e\uff0c\u5b83\u9690\u542b\u7684\u5047\u8bbe\u662f\u516c\u53f8\u672a\u6765\u5229\u6da6<strong>\u96f6\u589e\u957f<\/strong>\uff0c\u4e14\u76c8\u5229\u80fd\u529b\u4e0d\u53d8\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>\u5b83\u4eec\u4e4b\u95f4\u7684\u5173\u7cfb\u53ef\u4ee5\u8fd9\u6837\u770b\uff1a<\/strong><\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>\u4e3a\u4ec0\u4e48\u9ad8\u589e\u957f\u7684\u516c\u53f8\u901a\u5e38\u62e5\u6709\u9ad8PE\uff1f<\/strong><br>\u56e0\u4e3a\u5e02\u573a\u9884\u671f\u5b83\u672a\u6765\u7684\u5229\u6da6\u4f1a\u8fdc\u9ad8\u4e8e\u73b0\u5728\u3002DCF\u6a21\u578b\u7b97\u51fa\u6765\u7684\u4ef7\u503c\u5f88\u9ad8\uff0c\u6240\u4ee5\u6295\u8d44\u8005\u613f\u610f\u4e3a\u5b83<strong>\u5f53\u524d\u7684<\/strong>\u5229\u6da6\u652f\u4ed8\u66f4\u9ad8\u7684\u6ea2\u4ef7\uff08\u9ad8PE\uff09\u3002\n<ul class=\"wp-block-list\">\n<li>\u4f8b\u5982\uff1a\u4e00\u5bb6\u516c\u53f8\u4eca\u5e74\u8d5a1\u4ebf\uff08EPS\u4e3a1\u5143\uff09\uff0c\u80a1\u4ef7100\u5143\uff08PE=100\u500d\uff09\uff0c\u770b\u8d77\u6765\u6781\u8d35\u3002\u4f46\u5982\u679c\u5e02\u573a\u9884\u671f\u5b83\u660e\u5e74\u8d5a5\u4ebf\uff0c\u540e\u5e74\u8d5a10\u4ebf\uff0c\u90a3\u7528DCF\u601d\u7ef4\u770b\uff0c\u73b0\u5728100\u5143\u7684\u4ef7\u683c\u53ef\u80fd\u5c31\u5f88\u4fbf\u5b9c\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u4e3a\u4ec0\u4e48\u4f4e\u589e\u957f\u7684\u516c\u53f8\u901a\u5e38\u62e5\u6709\u4f4ePE\uff1f<\/strong><br>\u56e0\u4e3a\u5e02\u573a\u9884\u671f\u5b83\u672a\u6765\u7684\u5229\u6da6\u4e0d\u4f1a\u589e\u957f\uff0c\u751a\u81f3\u53ef\u80fd\u4e0b\u6ed1\u3002DCF\u7b97\u51fa\u6765\u7684\u4ef7\u503c\u5f88\u4f4e\uff0c\u6240\u4ee5\u6295\u8d44\u8005\u53ea\u613f\u610f\u4e3a\u5b83<strong>\u5f53\u524d\u7684<\/strong>\u5229\u6da6\u652f\u4ed8\u8f83\u4f4e\u7684\u4ef7\u683c\uff08\u4f4ePE\uff09\u3002<\/li>\n\n\n\n<li><strong>PE\u7684\u8bef\u533a<\/strong>\uff1a\n<ul class=\"wp-block-list\">\n<li>\u4e0d\u80fd\u5b64\u7acb\u5730\u770bPE\u9ad8\u4f4e\u3002\u4e00\u4e2a15\u500dPE\u7684\u516c\u53f8\u53ef\u80fd\u5f88\u8d35\uff08\u5982\u679c\u5b83\u660e\u5e74\u5c31\u8981\u4e8f\u635f\uff09\uff0c\u4e00\u4e2a50\u500dPE\u7684\u516c\u53f8\u53ef\u80fd\u5f88\u4fbf\u5b9c\uff08\u5982\u679c\u5b83\u80fd\u6301\u7eed\u9ad8\u589e\u957f\u5f88\u591a\u5e74\uff09\u3002<\/li>\n\n\n\n<li><strong>\u5173\u952e\u662f\u8981\u770bPE\u80cc\u540e\u7684\u201c\u589e\u957f\u9884\u671f\u201d\u662f\u5426\u5408\u7406<\/strong>\u3002\u8fd9\u5c31\u662f\u201cPEG\u201d\u6307\u6807\uff08PE\/\u589e\u957f\u7387\uff09\u8bd5\u56fe\u89e3\u51b3\u7684\u95ee\u9898\uff0c\u4f46\u5b83\u540c\u6837\u6709\u5c40\u9650\u6027\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">\u603b\u7ed3\uff1a<\/h3>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>\u201c\u672a\u6765\u51e0\u5341\u5e74\u201d\u662f\u4e00\u79cd\u601d\u7ef4\u65b9\u5f0f<\/strong>\uff1a\u5b83\u4e0d\u662f\u8981\u4f60\u7cbe\u786e\u9884\u6d4b\u51e0\u5341\u5e74\uff0c\u800c\u662f\u8981\u4f60<strong>\u5bfb\u627e\u90a3\u4e9b\u751f\u610f\u6a21\u5f0f\u5982\u6b64\u4e4b\u597d\u3001\u62a4\u57ce\u6cb3\u5982\u6b64\u4e4b\u5bbd\uff0c\u8ba9\u4f60\u6562\u4e8e\u53bb\u601d\u8003\u5b83\u957f\u671f\u672a\u6765\u7684\u516c\u53f8<\/strong>\u3002\u4f60\u6295\u8d44\u7684\u662f\u8fd9\u79cd\u201c\u957f\u671f\u786e\u5b9a\u6027\u201d\u3002<\/li>\n\n\n\n<li><strong>PE\u662fDCF\u7684\u201c\u7b80\u5316\u5feb\u7167\u201d<\/strong>\uff1aPE\u5f88\u6709\u7528\uff0c\u56e0\u4e3a\u5b83\u7b80\u5355\u76f4\u89c2\uff0c\u4f46\u5b83\u53ea\u53cd\u6620\u4e86\u516c\u53f8\u4ef7\u503c\u7684\u51b0\u5c71\u4e00\u89d2\u2014\u2014\u6c34\u9762\u4e0a\u7684\u90e8\u5206\u662f\u5f53\u524d\u76c8\u5229\uff0c\u6c34\u9762\u4e0b\u7684\u90e8\u5206\u662f<strong>\u672a\u6765\u7684\u589e\u957f\u6f5c\u529b\u548c\u7a33\u5b9a\u6027<\/strong>\uff0c\u90a3\u624d\u662f\u4ef7\u503c\u7684\u4e3b\u4f53\u3002\n<ul 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