（可行性报告商业计划书）74页中文版商业计划书8.pdf

《（可行性报告商业计划书）74页中文版商业计划书8.pdf》由会员分享，可在线阅读，更多相关《（可行性报告商业计划书）74页中文版商业计划书8.pdf（74页珍藏版）》请在淘文阁 - 分享文档赚钱的网站上搜索。

1、?!#$?%?&?&?()?&?*+?#$?,+?-./01?&?234?&?5?6-7?89?:;?A6BC?DE6EF?GH6IJ?KLMNO?PQ6RS?T?U6V#?1.?WX?WY?Z_?abcd?efg?h?ijUk?lmno?pq?rs?#tuvw?x2yz?no|j?#tK_?1?#$?.?$?V#m?-H?d?$?#$?&1.1.?/?/?!?#$#$#$#$?!?%!?&?$()*+,-.()*+,-.()*+,-.()*+,-.?/0?/0?1+2 3$/4 5?6 7 8 9$:;:;:;:;?:;?A B C D?*+,-.?E F?G H?I J?%+K L.?M

2、N O?2 3 P Q?1?q?q?q?q?m?$?Mno?b“q?Kno?mx?fifl?f+?$x?”?V#6A?9?9?9?9q?#?K?x?K?d?*?zx2?$?6?s?I3?(?m?9MN?_?9?MNI3x?w?o?=?*+?91?1?A?x?+?9?!#$?%&1?;()j?*+?,?-.-.-.-.?/?WX?m?WX?m?WX?m?WX?m,01,01,01,01?2?K?345?$RS#?66?I?-.?$?1?m7-9?896:;?x=?-.?AB1.2.?pC?3?W?b?j?DUk?E?F?/?5G?.RS#?6C?m?HInoJK?no?#LM?/?NC?OP?Q

3、R?S?_?T(UlmV?W.Xzb?W?xF?Y?ZB?&?F?m?8?x?s*+_?yz?a?I3?bc?#$?deD?yz?!#?$?mff?e?g?9?x?hi$Dmjk#?lm?nopmj?rs?A?iq?AUk?r?q?c?sop?t?2u?&?tKLb”!?sop?9?I3?:;?s?:;?A?zyz?.?:?Z?9?X?:Y?9q?RS#t?|M?uw?x?v?t;?P?#?w?x?#$?x?E?gW?L?gq?BC?v?x?m?/$?6Ax2m?3W?o?f?#$?X?no?gg?K?/0?&/0?&/0?&/0?&x?9?m?+?GU?&?r?m?RS?z/0?|M;*D|

4、?9?-.x?9yz&?QDq?DEEE?V#?g?9z?e“UD?.2lm;lm U?:;?#$?g16?$?1?;?&?IJ$?g?9”?lmZ?lm?A?g?hi?D9?lmmj?:m?|M?D?4 g?9?2BC?x?m?96?D?:Y?w?x?siq?pC?V#?m?|?2#tC?2RS#$?2#t?#$O%?#M?W?$?q?w?_6666?flflflfl?yz?E?w?KL?&?d3?2?3?y?ABC?!?x?Mv?K?mj(mj?#$#$#$#$?a?a?a?a?#$?#mW?3?g?RS?xMv?D?n?P?W?lm?e?v?op?fl?d?!?#mRS#?6?#?3?A

5、?BC?;lm;$?Z?#$?n?n?zyz2.?.?W?lm?”!x?bx?W?mj?O?E?Cv?-?a?A?6?*?!?G?yz?a”?Y?fi?z?3?*?lm?mW?#?$?#?6?#?%?&?nod?3?2.1.?d?s?”?=?”?m?!p?9?Q?6#?$Z?Z?Z?Z?%&%&%&%&?%?(?)*?gb?d?+?hi?lmop?AP?W?M?mjMj0?6,?Y?-.16?lm?!?/0?0?1?26AP?Y1?#$?Mv?3E?/0?k?j?W?4mj?5r$?67?7V?1?mj?MNc?#?7w7w7w7w?9?9?9?9?MN?MN?MN?MN?w.?MN?m88K

6、?p|M?3jG?CA9?RS:;?MZ?#t#?x2#t?$?Yjq?3,A?9d?9?fl?MN?m?B?.?W?MC?|M?=?:gm?D?E?FG;H?gq?w?ABb?m?H-EF?:;H?:?W&?FG?lm#$?$?mx2ff#$?$mdA?,Xx?#$?lmopm?|m?Y?=V?Z?$?o?WW0?/EXz?Z;$o?WW0?(?_no?m?:?rdlm?o?WW0?lm?S?)?MNd?(?;$o?W?s?ab?c?(?:?m?lm?op?:;?YBC?:;?;?dM?:;?lmopshK?We6?bW?lmop=E?:Y?:?f?-7?z?x=EDEfJ?g0?Mlmop

7、m?A!?h?|M?gi”jG?J?lmopDE?lmopj?u*EFD?k?*#?x?lm_|?$?lms?EFD?WX?()m?lm?x?:;?NC?W?nox?:;?Y?:?mu*?p$qA?q?e?+no?q?no%?:s?r;s?op?x?lm”t!x?u?M?9?w?*#?lm?#$?D?,?AUk,?AUk,?AUk,?AUk?A!?M”?sop?Y?Um?:?A?:D?2?lm?Y?:?=?Mg?9?A?EvwJ?Jiq?rs?JC?x?J?%&?yz?4?H-?.x2?JwK?-.?AUk?5?|?x?5k9?rs?U?.?lm?9?D?nom2?V?x?*DG?*?op?d

8、?V?x?G?X?BCf?Cv;?:?BC6NCv?Prlm?d?C?:?BC?QY?bN?BC6?6?:?6?:?BC?Y?:?bN?BC?O?bBC?m?no?V uf?)?rs?W?rs?W?rs?W?rs?W?dm?f?:)?6?GH?E/?2W?;$?2?#?uk?GH?m?:)?6EF?%?/?!#?!#?!#?!#?Wx?Zt.1?W?:x2W?:Zm)?Qz?Z?EE?b?l?A?#?zH?EFIJ5?A9?GH?Wb?q?lm“?9?.?W?E?6?W?xW?$?D?MNc?D?9d?x2?W?:M#?lmopm?GH?WtD?6?%?C?:?ofi?l?3?KW?M?:6?

9、GHm?W5?fC?|Mm?w?-?Z?H-?W9?“?-?z?fifl-?x?5m?EF?lm“Z?+?|?6?6?6?6,?9k#?3?WX?hi?hi?jG?b?U?/?9hiw?9?MN6#?A?3FGm?lm?arm?Y?/?-?m,?s?nfl?2?x?O?w6?.?2?&q?mx?no;?M!?lEF?:;?!*?”x?k?M?x?lm?D9?&?6?2?iq?.?C?9?UU?m_?n?:?(?(bNlm?m?x?kXz?A?mZ?!*?D*B?!?no?D?m?.x?W?,?9?9?9?9?no?:lm?V nox?:PrlmV?dfl?:EElm?2jG?j?W?u*?OH

10、?1?4?:Y?:HW?2BC()?V BC?x2()k?k?:4?2ofiDV;c2.3.?w?mk#?u?k#?C?._yz?tQ!?%&M?D9M?1?1?1?1?o34?1?m?W?:;?1?.?1?/?,?_?BC?”?L?1?t?/lmg?9?2|?1?9Z?C?(?D9?v?1?mj?t?#d?n?A?7m?dCq?!1?lb?tk?4444?9d?=?lm?P?RS#?6?X?&!?W?.1?C?m?2|M?D?4m?9?&?-?lmop67?/0?-?J?g?A6?2?_?b?:?l?H?:?x2AB?V?&?9?+mcO?m?D#$?:?FG;$?G?QRno?MN?no?

11、G?;?Y+m9?/$1?#$?5?noT%?rs?MN?1?T?&q?|?fifififi9999dddd?:;?|?Z?9M?:;?#!4?7?(?9)?5?h?6?C?fi?O?O?O?O?%6O?%6O?%6O?%6Ofifififi?4?%?s?9M?!$?#!?%?k?#%|?fi3.?!#?$%!?&()*+?,-./?01?2?3)45?6789:?;?A%B?CDEFGHI?-EUGENE KLEINERRS#?6?&x?q?k#O?x?yj?9?&?$%?Mt?d&#$6RS#?6H!*#t?x2#$?b?Bt%6?%6d?zyz(lm?EE?)M?x?Y?_P?m?w?R

12、S#?66?lmQQmW?9?&m?()?9|?&C?no?jG?#z?c?e“3.1.?!?!?!?!?&?9?m?v*?$?CBno?_W?WX?o?=?&?6+/$?,?hi6=?g0!_?&?-?G?s./WD?#?/$?8?&?$?H?019d?$z?e“?2no?5?+?P?/0?&?hi?v?I3?)?Evb?&?e?39?yj?4?cab6a3.2.?#?#?#?#?W&?&*e.?Y6?&?9?A?W?&5?6?5?W?M?&?=?x2?&gm?6+?om?W?NC?P76RS$?8?hixm?_?9?W&6cm?9?D?:?346U?w?&?&?&?&?&?;?m?m?m?

13、m?5?5?5?5?!$?s&?no?-?no*X?x?9d?&?5?!$s=qno9!?E?!?&Mz$?A?M?A?x?&?#!?svB?!$b?/?&?$?2”!A?-?C?DEF?G;$?9#?&?&?&?&?llll,?,?,?,?!$?2?no?M?H?$?2|?9?I?l?Jv?dl,!$s?PK?Jmj?x?bc?Dd?e#yz?&m?&m?&m?&m?&?fiAfG?Y!?5?6c?/?g?9?OM_dkh?(iC?)?j?!?k3.3.?$#?$#?$#?$#?_?+?!*#t1?#$m?K?k#?lZyz?no?9i”?no?-.?nomX?mk?*nRS#?mRS#?m

14、RS#?mRS#?mV V V V RS#?mRS#?;$?C#?WX?pC?x?,?M?opRS?ORS#?#?10?!K?F?sq,/?F?r?sc?t?F?mwKop?9?RSRS#?6?n?2m?|?no?/?u?,?P?(?6)?I P O !#$?%&()*)*)*)*?+,+,+,+,?-./?0?15-82345678?9:;?A8B?CD?EFB?CD?EFB?CD?EFB?CD?EFGHGHGHGH5670I?J?KL5670I?J?KL5670I?J?KL5670I?J?KL?M?1NOPQ$RSTU?V*WXYZCD?CD?CD?CD?I P O?6-120_abcFd

15、?eJfgMhMhMhMhiiii56RS#?RS#?RS#?RS#?6666?V V V V=?=?=?=?6BC_6BC_6BC_6BC_?#$?=?9fi?-?D?Mv=?6KL?_meD?v?w?9?m2?W?+?=?FI?fC?x2FZm?K?j?9?mjp#?Q?K?m=?j?z$D$D$D$D?s&?s&?s&?s&JJJJ?lmoplmoplmoplmopk?s?;c?x?+?ls?op;?nWop?W?:;?W?:;?W?:;?W?:;?;?:?6/;?GH?c?W?W?W?W?W?fl?6fl?6fl?6fl?6/;?A;?A;?A;?ARS#?6?x!.2O?j?EF?_

16、?WX?ac?5000%D?aaaa!$!$!$!$yyyyD?lmD?lmD?lmD?lm?8?8?8?8?#$U?A?$?b?C*lm?(6iq?KwJ;?j?#$3E?ro?20%?m?500?h?80%?QQwJ?(?ofi?/Cq#$?m9?3.4.?%&()?*+,%&()?*+,%&()?*+,%&()?*+,#$X?m?&?m QDx?&?no?U?0/0?!_?no!?Mv?RS6P7/0?&Mlmop6?z?.?F?/0v?&?G?5?xF?E?yz?2?3?Ec?w?jGyzwK*e.v?m?234U?&?(?)*?+?,-&?(?)*?+?,-&?(?)*?+?,-&?

17、(?)*?+?,-.?/01 2 3 4 5 6 78 9:;?A B(?C D EF G?H?I)8 0?J?=1 2 K L M41 2 N O P?Q R&?(L)*?+?,-%7?UUUUf_?&m?3y?e?H?6Ev$D?Mv?QD?m?&;$?GH(A?DEEF?6?=?)U g?$D?&?m?Ofi?!fW?_?E?)*?jG?jG?jG?jG?JJJJrDrDrDrD?-7?-7?-7?-7?/0?&M/0?m?2?&2m?n?op?Y?:?o?m?q?9/?q?9?9?:2?Y?-?9?xwK*e.v?g?x2?g?q?9?/d?C*?/?Z?m39?I3=?m?b?()?

18、=?wJ?c?Eyx?Byz?cab?9?Mv?D9?H.2?M?166?$;$?&?d?&?&?&?&?yz?rbW67?2W?4.?=/?&?v?*?obNgm?2?#$oU?6+(?8)Q?%&t?s?Z?Ofi;?O?j0?x?w?5?b?&?v?!?Mv?d?2-7?6?u?/?W?W?3CM?()&?c?F?5GM?u?Ev?G?Es?1?2?31?2?3?4?5?6?7!#$8%&?(9)?*?+,?84.1.?-.-.-.-.JK?LM)NO?PQJR?ST?UV?WOXYWZ?ST_+a?bcdefghijkl?mn?opqr-ANN WINBLADRS#?689mC?fe“

19、$X?&/?9?k9*m?:;!?&?E89m?&u?E9?6?6c?9E?=?M?K?89?m?&?n?E?w?b?v?mj?/$?_1?!$?s 5?10 EMN!w?89?c$”?2dCq?;$q?-F-?89no-7?-7?-7?-7?89898989?1?mV?2?Pru*?/?lmm2?2lmC?opmV?AUk6?fl&?(mfl?BC./mV?g?9?2?9w#(&)WD?fl?mV?2&?V#?d?EF?6?2LMmfl?Z!?bc?2?9?HI?/0?2lm”)2EE?b U)*?z?RS6P7mV 1?3?5?U?$?V#?d?=?9?Uk?IJKL?C9)*?jGg4.

20、2.?/01?/01?/01?/01?stuvwxy9zQ|qG?9?-BRUNO WEISS?$?&?g0m?W?:;?lm?op?:6A?;$?:?V m?9?Mg9?yz?g?99?yzk9?lmoplmoplmoplmop?:;?6?:;?BC?3W?D9?:;?lmd!*?op?BC?:6?D9?_Blmd?W?!s?op9?x?+?9?lm?K?)?/?J?:?.?n?:?V()6)?m?H?W?:;?9wJ?:;lm?E?o?e?“?“?yD$?obNq?E?LMLMLMLM?x?b?W?m?RS#?6?Yx?RS?J9FG?Z?w?:Y?#$?b?eFG?;_?,!$?:?&?

21、;_?lm”?:;?g?r?6?.BC?()?AxH?1?Q;k;$Z?C?g?D9?ex2?:6?2?U?9d?Q?RSVfi?!;?7V?;$97V?BAFG:Qfl?;$?B-7?-7?-7?-7?:;?:;?:;?:;?1 9?V?lmlm?dmV?:/?V?lmop?W?mV?FG?yz?9wKKlmop?9)*V?z?BC?;#?2?:?:/?m?4?6?$e_mV?:;?#W.?1?;$B4 q?g)*2?g?2?HI?2?:;?m?2lm62|W&?BC?21?/B mj?97VB?9?!?7V?c?V?/?V?:/?B?n?:/?(+6r6?8?d?3?/?92#?(MN?)

22、U?:/?mj?_=?$?i?x?9?S?-7c?2?3?R,?2MN?=?=?#?M?D9,?2?.KLjG?&?9?E1?6?9q?-7?D9?x?(=?*+(=?*+(=?*+(=?*+6?/?U?:()?7wF?lZ7B?s6?Mv?/?I?;$?Mg9?c?c?E?2?g?9?g?,?I?6?=?FG-d?9?*+_?q?I3?9j0?K?#?6?$&?-?;$=?Ym1?u?O?RS#?6%?9?#?1?#$1?#$1?#$1?#$V V V V?mj?z?mjj?-?mj?bnov?T+nomjq?U?mj?no?6?mj?e=?mj?6?gmnov?,+mj/?K_?=?&?F

23、?”?=?hilmo34?6?zyz?”?fI3?b?.?m4?9?9?J?MN?93-7?-7?-7?-7?=?=?=?=?3?=?2no?V Y?-?-1?y?O?j?2?;$_?KL?6?3?IJV?6_ q?Ux201?CU?mV/?_?4.4.?6789:6789:6789:6789:?63)Gs?mn-BRIAN WOOD?lm6no?d?m?hlm?d?lmZ?no;no?:;$?seD?mj?!?2$%no?:snoQ?:;$V o!?op?lm”k#o?:?A6BC?3E?m?-7AUk6AUk6AUk6AUk6?flflflfl?A?_?|M?op”?fl?AUkM?jG?

24、Jlm?J?EF?EF?A?fl?Up?-7?M?*+;*+?A?E?9?2?*+?(FG?)?x2?6?V-Hyz?$D?+?S?_d?U?x2%&Ev?9?JZ9?!9?n_6e0?#C?!fl(yzA?$?!?)?6?P?(?&?1?)?P?J?H-(?9?+)?g?=?W?Z!?r?%&$?k?=?c?ab?%&x2?u?J?z?9K?h?j6Ev?z?D%?-?JCC?%?/?(9?v?x?5?k?4AAAA?E?E?E?E?lm6?U?A?EF?EF?A?6?2?9?x?+?AEqV?E?/*e.v?9$D/?E?lm?J?no?$D?DEP?.?E?lm?pppp:A?:A?:A

25、?:A?)?2?2?2?2lm?E?lm?E?lm?E?lm?E?/+%6/?(?)?a?Uk?=?WFG?!u?=?a?:b?:no?:?ofi?y?:A?y?:A?y?:A?y?:A?)*)*)*)*?2?2?2?2lm?E?lm?E?lm?E?lm?E?/?Uk?+?D?FGY?(A?fk?)nono;3nono?/?4|?mj?h?/?lmyD?*DMN?c?EF?9?EFP?6BC?wJ?g?9?ofi?BCBCBCBC?BC?()6)9?x?+?/?C?9BC?hiAEF?6?(Do)?flA?D?:lm?/?lm?EE?b?kh?98?X?/?v?hi?z?d?BC()/flMN

26、BC?BC?BC?BC?DDDD?lm?V no?:?mBC?:?:BC?:s?lm?op(?2?noC?9?)?:l,;$|?;$DE16?%?op?”_;$u*?EFD?DElZyz?9?m?xop?”_?b?w.lm?DE16?m?:;$?D?D?:?lm?:?D?M?9?mdlm?:-7.?Prlm?d?mQQ?W?:*?!lm?%?:()?no?9M?D?YBC?x?lm”?:?op?”_?:;?fHHfC”no?:?-?lm?d;?yD$?j?DUk?lmW&?;_?:;?;Z?YBC?n?:=E?:Y?lm?,?Blmno?:;?4?p?D?.ADE?7?fl?-7?9fi?3?

27、_?D?m?9?_?9?#?!?aD?yz?+m?:?r?:?#6w?wJ?flm?z?2W?-7?-7?-7?-7?A6BCA6BCA6BCA6BC?1?)mfl?eD?mV?W6FG$?#?V?A?E/?A?E6C?Uk?(?i&)?lmm2 s?2lmA?2?BC?:/?2lmCB?6F?s?V z?lm?|?lm?-7no?2BCm?)2P?A?2?x2?BC?A?Ef?A?BC?D?.2?lm?BC?2b?c?BC?)?2DE“?BC?2EE?b?BC()?/flMN?V BC?:?)*V?L?no?x2?L z?V 8?69BC?()6)4.5.?;8=;8=;8=;8=?M?D?

28、s?9?EF?#-DAVID PACKARD?$?-7?mU?DE6EF=o9d?_?:9!A6DEP?jG2E?O?k9?:ofi+62E1.?:?:?:?:?:?:?*?2?lm?d?Evb?9?:himjk?sPrx2?d;$g?92?x?m?Pr?lm?:gm?/?lm?jG?d?:?2.?ofiofiofiofi?ofi?hm?l?9d?ofix6?wJ?QDofi?m?m?lm?D?ofi?MNc.?|M?ofi”?9x|M?34?%dx?r67?w?9?rx?9d?ofiwK*e.?:?.lm?op?;?:yD?DJEv?lmop?9?.DJlmopEvyD?ofi;?Z?Y?l

29、m?W$?6#q?DoP?*e.?mjUZ?o?&?A(P?);$Ud?n?c?r(?P?)W?Z)?P?W?:?D?m?:?9?c?ofiCG?opcoZ?c?2bW?s?#t?W?#?9?#?Y?P?P?Z?9?c?#?Prc?dx?#RSm#$?2|M?)P?WWWW?W?W?W?W?/-?H-“?3?/?MACINTOSH)?P?5(?MACINTOSH W?W?/?Pcccc?DDDD?D?c?%?mjUc?t?AH?%?X6EW0?D?no?+?gm+?%?-BCBCBCBC?BC?P?m?BC?fd?A?x?|Mv?x?WX?mj?dx?Y?3.?+?:;?lm?x?fC?k?l

30、m?Q?9?DEe“U?Z?EE?b?:EE?b?q?*+?w?lmnom?gm?no?n4?:?9?4?:?.co?gmo?mj9v?EE;$V1?o?xv?gmV?e“?IJ6?GH?*+?EE?b?qY?n?DEe“?C*+?n?EE?E?m?E;?bEE?+aHFG?m%&FG?EE?b?;?m?2q?b?FFFF?FFFF?:Z?F?EFno?lm?b?x?9?m?BC?Ux?:?M?F?NC?;_?2no”?q;?C?m?_?|*?DDDD?*?D?b?uKL?*?D?.9?“?:Q(?m?A)*?D?J_#?|M?B?EF?:QM?&“?h?M96?F?/HHm?x?F?-H?C

31、n?EE?M?cAbQ?Z9dE?E?2?no?W&?:?9?9?+?r?A?|M?v?EFm?R?q?u?9#lmM?EE?:Qvvvv?EF?EF?EF?EF?:3y(#?:)?9EF?:?Mv?$?EFC?lm?8clm?J3?3v?EF?z?EE?b?d?:?y?|M?”p?”?flflflfl?lm?Z?fl?:?|?d?J?no?wJ?U?/q?flmj?a*e.!$mjsDt;xfl_?A?m?k?0000Z?|?lmZ?n?:k?:?Z?x?EElm?9?EF=W?g?1?u?x?HHHH-?H-?C?m?W?DE?bZ?K?A4.?2222EEEE9?lm?:?$?no?bx

32、?:?9?x?+?|;p$?_?:?no?no?:?%0 x?m?lZZ?lZ?:!lm?A?:;?op?l%?:BC?:;?n?:?Prno?9;lm?_?|kyz?:?*?DE?lmfl_?DE?H-?6-H?G?;$?$L?:?;$?!?lmlZ?c?a/$&q/?EF?b?|Jq?lZ%&6?G?+?lZ?a?lm?b?Mv?+?2z?noe“?;$2?noe“?*+_?-7?-7?-7?-7?DE6EFDE6EFDE6EFDE6EF?1 U?EFofimw(&)V?/?x?EFofi?x|M?2b?c(&)?v?QD?EFJ6EF?mw(&)?2 d?2lm?A q?x?hh?r+?

33、Uk?EFJQD?mw(?A?E?jG?J)?EF?:/?Y?lmN?eDno?:Z?V EE?Y?lm?U?d?ofi?&Agmd?C*dc?V?z?x?e“?V?lm?:;?!lm?9?C*?lm?MN6#?mw?2?|?C*lm?6?s?z93fl?lm?I?#9?:/?9)*2UgQD?a?9?HI?39?aKLEFP?D?9Pr29d(?y?#?0)&x?EE?bbNEFJ6?D?a?E?(&)&?/?EE?b!wA?2?:9?/9?:/?8A?8A?8A?8A?W+?i)#?q-TED LEVITT?h?e?GH?GH?GH?GH/?m?2?u=N?z?I?otH?u?-H?Mv?

34、GH?GHkYeD?/0?!lm?:?=?$fo?tI?fW&?GH?.?=39?x2=H?u?o?%?Cm?10?%?m?p?6?GH?kYz?W&v?GH?f+?9?jG|M?jG?A?.?C?g?E?)n?y?_?I?m3?g?9?EFE?4?EE?F(?9)%&(%&(%&(%&()*)*)*)*+,+,+,+,-,-,-,-.?.?.?.?/0?1 2/0?1 2/0?1 2/0?1 2?9?u?&?./?jGA?W?*+?r?*+?&qP?GH?%?GH?GH?:?E?xm$EF?:?GHq?D?/;$UU v?GH?j?e?w?fi?U?l?9?GH?8y?_?GH?9?F?I?

35、e?noj0?_caw?yz?9Y?=?fK?2=k#?n?2W?6?y?o?MN?u?lm?n?op?BC?/$?xH?-7?m?eD?GH?c?9q2?“?)*1?u?1?u?.W?9no?_?GH?+?=?Mvm_?m?DOS?zH?GH?n?=?IBMIJIJIJIJ?GHb g?9?IJ?+?4?m?6?c?E?9W&?dw?k?IJ5?jGXz:?9?D?IJ5?j?=?9?W?./?+aH?I?/0$/?“?Cbc?6?c?E?3f?=?_#?T?6?=?Mv?fC?IJ5?W&?k?/?y?bn;?w?2?uw?x2?Q?$?/?MNc?yz;?c?9?|M?Q?M r.D u

36、x?M r.I nvent?M r.F aci t?M s.O rat ori a?M r.P ecuni a?M r.D ux?10?+?+?+?+k9?q?+9D?flMN?4?9?6?M?%?Y?A?m%?w?WF?W?ASIMUSASTRUM 6 WAVELIGHT?F?s?Lf!Hvvvv?ggggmmmmoooo?ye“ye“ye“ye“?eD?g0?_?9?GH?+?jG=?q?+b?=?F?C=?MW?c?/=?D?v?Cw?A&;$_#?/?=9?om?v?gm?VC?mv?gmov?gmo?e“?9?bz?AY?z-H?bc3?2?zyz?2?C?v?gmo?e“M9)?/

37、PPPP?2?/?BC()z?9fifl?j?P?9?s?o:Q?FG?#?6?p:?#?DE=?$?/?=9d?jG_?=?c?j0 x_?jG|Mmv?%?_w?*D?gm?1?Cw?1?u?Q?w?gs?J?z?noe“b?9?mj?Pr?9d?jGUfi?:;?Y+?=K Z?x?_?9no?!F?zyzC?x_|?.?W?C?/?yz-H?vr?(+6I+?.U?Y?n?z3#3#3#3#?q?q?q?q?GGGG_?_?_?_?yzyzyzyz-H-H-H-H?&?q?,?G&?%5?x-Hlmno?;?d?&5G?!?lm?JrD?:?noPr/?lm?*?9d?.?:a?z-H

38、?z-H?z-H?z-H?*(?MO?c?|noZm31?u?:6?;$m?J3?x2|M?&?Z?M?c?zyz;$o?J?*?_?.&?C?W.?G_?-H?NC?K?6?1)v?()M*d?zyz?()!r?9?yz-H?-H?j0+?&,?,?,?,?&?sdx?-H?!?()m?&?yz-H?/xRS6#RS6#RS6#RS6#yz-H?RS?MvZt+?A?u6?D4?o?w?Uk6?_?no?W.?/?gno?1?yj?x2yjDt.?nD?;?no?x?+?9?(?,-y?)o?x?RS6?T?*+?93E?U;yzyzyzyz-H?-H?-H?-H?6.-H?-H?Mv?6?

39、/0?D9?V|M?y?d?y-H?QD?&M?U6?z?)*V?z?g?M1 yz-H?a?d?j?DUk?()!r?_?v?()2?.yz-H Z?v_?&-7?-7?-7?-7?GH6IJ?GH6IJ?GH6IJ?GH6IJ?2?:/?GHmV?Uv?W?2?v?+mV?IJ5?2?IJ5?m?3?9?2#?(DJ?6D?)?:/?FG?(?v?)?d?c/0v?2?Eno2?E 6?yz-H 6?zyz?f?z?()?2?3?+H qj0?:?_6?_(?:?)?6X?:/?bN?9-H6?|_#_#_#_#?UUUU?W?f7H?u?_#?U?0C0Iw?fl9d 8W?y?no?%

40、9”V?GHC?/?5?k?yz./?QD$?cD?9?mm(?b?c?Mv9?c?1?u?y?m?Z?BC?:?(?y;?UUUU#6?U?t#?u?#6E?w*e.?T?U?b?c4.8.?GH8IJGH8IJGH8IJGH8IJ?&?Jfi?fl$G9?9?ih?P7YRSx2&qRS#?6sK?&?hono#?RS#?|Ev?(ofi;EFJ)?k?LM?#?*+?-7?J(G?Ev)-7?-7?-7?-7?PPPP77776RS6RS6RS6RS?2?W?2?RS(ABCFG)2?L?x2RS?23H?P7/?#?V?3|Ev?.?6?0m|M?T?a?UmV?x?#t?d6r?V?

41、*+Cx2|Ev?K?o?U?V*+4.9.?K?L?8M?K?L?8M?K?L?8M?K?L?8M?”(3f?-?IT?U?hi?mj?!?mj?V#?x?Mv?6J?&?op?flCv?Xz?&t?Jx2mZ?#?_UO?C?M?V#?d?%&Q?2LM?prO?wJ?6?prOm?w?J?s H?2#?_UQzprO6?K?O?Ofi?&?T?U?&?T?U?&?T?U?&?T?U?9999dddd?t?J&q(#?_U)prO?K?O?K?+b?#?t?J?+b?F?a7w?ac?(?mac(/;/L?)?T?U?/a?Z?J?.?W(&?9?W)U?U?U?U?pppprrrrOOO

42、O?#?flgm?w*e.aM?MprO?(x?+Y#?_U(=t?JU)prO9?4?m?Np?fl(=?)gm?w(=?)(D?#?O?)K?&Ev?Wmj?6?s?ov?w?$?PD?;$?iq9H?=?m?c?x?m?QR?E?#6?Ub#?r?#?noofiprO?x?E?Np?u?E?W0S?no?:6_U?:;_U_U_U_U?Mv?D?J?t?#t?2?n?x?l?tT?VW?#?_Us$?#?t?JU?k?6?dV?;?l?m;$?#?_UYk#;?a?-?#?_U?2s?t40n?*+?O?3A?c?6MN?J?m?.?Mv?m?X?_?U?Mv?;#tx2?6?.U?Nc

43、?#t?d?U?iC?MvU?$D?0C0?#?_U?a?/?Z?Ya/L?Z?FO?a/a?Z?!s?Ofi?x2?J?(?KKKK?OOOORS#?6U?m?#?flx?(?K?O?xH#?6op?K?O?#?u?#?C?bO?u6prO?9d?K?O?/?&fix2?a?!s?Ofi?x2?JjG?T?T?T?T?dddd#?_U?$D?#t?dJ?M?9x2#tlm|Y?Prx2#t?d?.d?2C?o9=E?(#$?)6Z?d!?V#?bq?I?(?11)?q?.C?m?6?.T?dlm1?2Z?9d=?.#$?9?=K?W.?lm?T?!#$?/?1?#$?3E?v?d6?Up?#

44、$?d6?Up?mfl?#?q?Uk?o34?6?t6?Z?x?E?lmM?Q!?6 7 8?9:;!?6 7 8?9:;!?6 7 8?9:;!?6 7 8?9:;?7 8?7 8?7 8=?&?&?&?&?A B C DE F G HI J?KA B(?L K M)?N O G HP QR S G H)T U V?11lm U?&?U!RS#tRS#?6ZU!?E?#?E?lm?9 s?WD?1?#$?E?no?=?X?_no?=?#?m?=?r!?noa4?no?=?F?1?;DE?16F-H6-.?yo34?6Y?$HH?*%?6?16?g?d?Cv#$?o9ty?btx2y?Z?#t

45、?:Q?lm?D9?Eb?$D?&qqqq#$?#$?#$?#$?#$Z?no?#hi?#mj?&?Up?AR(CITYSCAPE)?A?Fa#$?#t?4700%D?(/aEm 1700 2000 6 1000)?ab?!?Kr?m 4800%D?x?Ab?c(?12)0.1 100.0 71.7 00.2 00?0?$Millio n s?1?2?3?4?5002 5.0 0?7 2%?1.0 0-0.9 00.5 8-0.6 20.3 4-0.1 8?0-1.0 6?1 3d#$?W?#t?t?Jmb?K?b#?t?JD?c?m.d?K?O?ct?eg#$?t?J+ac?o?op&q(?

46、&6?&q)/a?X?&q?=1/(1+r)Tx?r=?E&?bT=t?J?a?&qM?)c?rb(IRR)?c?rbm?#bt?J?op?5?M?bAR?c?rbm 72%O#$?#?abm 72%?RSxm?&q“6?Ofi?1?c?rb?C&qc?rb(Excel m IRR()?)?v?&q?him&q?A?wno?xm?fG?k?g?m?op?.?Z?a?t?J;N?2(?)?hiR?A?a?N?2j?(793)?iom 4800%D?T?Uq?ofi?!-;16(?;&)A?Y?-.EF?6?4?x24?xHtku?(?c?)V?W?()m?IJT?U?gq?j0 x?F?4?k-7?-7?-7?-7?T?U6V#T?U6V#T?U6V#T?U6V#?3?)mfl?t?J?)mfl?&V Mv?K?(?.?)?.?#?_U?V#?d?c?0|M?9wt?T?U?WmV?2#tC?Pr?V#?d4!?#$?V?_#$U?wno?K?2(?#q?)