122
¥ zkzv_mvl
¥ Kz]vzg]qzg{z]qkkzgz
>[jEGMJDREMYxXZNYOW^WEY`YXZE
ÆJU`GUG[jEGMJHGMJM[YNZ=MZUDYZEYMY`GMWMMWTWEW^QYEJDGERNWEýEGMJHJ
`YTNZRNYEDREMYxXZNYOW^WEWXWNNYEYUYX]JU`GUG[jEGMJEGEQRTUW[YNZ=MZTZEQYE
JDGERNWE
§jDG[jEGMJNJUGEMJM[YNZ=MZUDYZEZ`GUQJ¢YQYHYYUYEZ^RTWMW\W`RUWNYUZ
OJ`YTNYEMZMJNNJUGEQJXGRNYZ]YMYNZ`YTNYEMZNYUZMJGMJQJDJ^GEG^
¼ ùRDUJ_U0j[Y[ZNQZXMYEREUYXGJEY^ÐQYXGXY`RHWE\Y[YNZ=DY^
ùRDUJ_U0j[XYHEYTZY[ZNQZXMYE]JDJEREUYOJHYQZ=]YOYZ\YXNZTZEZE
Qj=jXRNDYZ]YNGEQJjUjNMjHYY`GNGU
¨_gl{_g^zkzÀgk___]zglzmpz]]g{z
ùRDUJ_UQWUQWXMYEREUY0HJEGQJE[YNZ=MZUDY_ENJDJYHZMZQJOUJHJGUJUJXXNGDY
\G]Y^ZEZXRUWDYXYDY\ZHNYXRDUJ_Uj[YNZ=DYZEZÐQYXGXYjUJHNJJEJNNJU
¥ =[glv_{_9¡]qkkzgz\z]
~v¢
ÇZ=jEGMJQJEMJM[YNZ=MZUDYZHYZNDYZ]YNGEQJMjDG[jEGMJNJU[YNZ=ZUËWEJQJENJ0R-
TWMW\W`RUWNYUZOJ`YTNYEMZMJNNJUGEQJXG]JU]YEG`GU]YMYNZ`YTNYEMZHZMJGMJQJDJ^GEG^
ÆJU]YEG`GU]YMYNZ`YTNYEMZEZEMJGMJQGNDJG]JQJJEGHRUY0MJM[YNZ=MZUDYZEZõ¸³ª
¨^YXMYEXWDYEQYHZXWNNYEDYÈWHYUZE\YW^YXMYEXWDYEQYQYEJU[JXNJ=MGUGE
£·Ðª
½¥®¡?¦ù´
£RTWMDYRJUYHREW
£·Ð³
½¾¾®ù¡¯¡Á¦´
£·Ðª
½¥®¡?¦ù´
¦ZMDYRJUYHREW
£·Ð³
½¥®¡?¦ù´
¼ §JM[YNZ=MZUDYZHYZNQZXMYEREUY0£·Ðª½¾¾®ù¡¯¡Á¦´YYHYUNYEDYNZQZU
ùRDUJ_U[YNZ=DYHY`Y=NYQZXMYE`GUXY[YEGHJREUY0QZ=jEGMJEGEG[GEQJE`GUj-
UjNMjJNJ`GNGUØjUjNMj0`RUWNYUQYXGXj[jX`YZE[¢YUXNZNZXNYUZEQYEQRNYHZ[JXOYN¢MJE
JNDJXMJQGUýEGMJYUZ^YNZQJTGNQGU
zkzv_mvlm\zmg{z^zkzv_mvl~{q=8?9¡ {[_mlk_{_lvl\lk_-
_+ k_vlv_mvl~{qgq^zkzv_mvlm\zmg{z{_lvl\_]l^lg=8?9¡
{[_mlk_^zkzv_mvlgl{q\{q\qgzkzv_mvl~{qgq{_lvl\{l]v_gm~g\z
9¡ {[_mlk_^zkzv_mvlg_{_z_{lg/
¥ zkzv_mvl
¥¡ 9~qvqxq^_]_lk_l+?~|zkzz/
>[OJQZ=DJXYEjEGMJNJUGEGMY=ZUXJERTWMW\WHWMRNYDYXG[GEY=YTZQYXGURJQjUNJUG
WHWNYHZE
1
ÇJOUJXJG\GHGXYYMZE
2
¡HYUDYEG¢RNQWEWEYN[YX`YZE[XZDZEZY^XJDJOYN©EGEJUOGRUMWEY`YT-
NYHZE
3
£ZOZXJDJOYEYZEZXYYMZE
4
Øj[YTNYHZE®QJOUJXJG\G´
¼ Øj[®QJOUJXJG\G´Y[ZNQZXMYEREUYG[OJQZ=jEGMJGNJMG=GDGEGE`Y=NYDYZHYXNY=ZX
ÐQYXGXYjUJUØj[®QJOUJXJG\G´Y[ZXXREWDYJMGUGNQGXMJEЬQYXGXYREUY
Y=YTZRDYNYDYG=NJDGEG`Y=NYMZE
5
£·Ð³EGEùYYNZRNQWTWEWQRTUWNYHZEOJYUQZEQYE£·ÐªG¡[ZXXREWDYYNYUYX
RTWMDYG[GEMJM[YNZ=DYZEZHYZEùRDUJ_U®QZ=jEGMJ´OJOYEMGNYM_UNJU®G[OJ
QZ=jEGMJNJU´[YNZ=DYHY`Y=NYUOJRTWMDYG=NJDGMJM[YNZ=DYZ`Y=NYU£RTWMDY
G[GEMJM[YNZ=DYZEZE]JDJEYUQZEQYEQZ=JUOGYEY]MYUZEZ£·³¬®Y=YTZRD-
YNYDYYEY]MYUZ´ùYYNZQYE¡[ZXXREWDWEYJMGUGE
¼ ¡EY]MYU £¤³¬¡[ZX XREWDQYHXJE W^WE jUJ G=NJDJ QJOYD JMDJHGE¡=YTZ
RDYNYDYMYDYDNYEQZXMYEREUYùYYNZXREWDYJMGUDJHGWEWMDYHZE
6
°YERDJMUJQJXG`YZE[QJTJUG0«0°¯Y®HYXNY=ZX0«0X¢Ñ\D
2
´YNMZEY
Qj=MjTjEQJY^XJDJOYEYZEZMYDYDJEXYYMZE
7
£·ÐªGùYYNZXREWDYYNYUYXXNGDYHZQWUQWUWE®£·³¬QZ=JUOGYEY]MYUZEZ
¡[ZXXREWDWEQYEùYYNZXREWDWEYJMGUGE´
8
Øj[XYHEYTZEZXYYMZE®QJOUJXJG\G´
¼ ùNGDYGMJDGEJ[RX¢Y^NYRTWMW\WJXNJEDG=J0`YZE[0«X¢Ñ\D
2
HJQj=DJ-
HJ`GNGUËWEWERNDYZQWUWDWEQY0GMJDQJXGMjDRTWMW\WHWMRNYDYXG[GE`GU
RTWMW\WMJDG^NJDJYUY\ZXWNNYEZEOJGMJDGG[OJQZ=jEGMJNJUHJUNJ=MGUGNQGXMJE
REUYQRTUWDGXMYUQYRTWMW\WGNJHJEGQJEQRNQWUWE
Kz\¢
9~qvqxq |~|zkzzm z|z\]_g m~qvqxq ~\qkz\gg zkzgvmg ]_m_-
{_gÀgx_]~|\_mÀ\[{q\{q\qg<zzjllzzgxz{{_k_\lgmlmv_l^_\lml-
g_jl\_ml{q\qqg{z]~|\_mÀ\|zvkzzlkl\_z\zkzgzkz\z~kz^zlkl\
¥ k_v_v_mvlg{_gÀgx_
^_{[glv_glg~gvzgg_]zk~_~\qzkzgvkz\ggvzzkzgz-
mg{zgm~g\zm~qvqxq]z^z_k_]v\l]_]~gv\~k]zk~kz\g{zj___
pzvzk|~kz\lv__zkz\{zgl\lg{_]~|z~kq|~kz{gzz]g
.[^ ]zgz v_\lgzkk_\ lk_ v~|\z] z\zmg{z]l {l\_gxlg _g z ¬ ~kq|
~kz{g]~gv\~k_v_]l^lg¦~kvkq]l\ ~pv_mvxlpz]qkkzgg
Xqv_mvl]~gv\~k]zk~mq+{[[]j_\lkl{_\_ml/v_\lgzkk_\lg{_z|zg
Kz\¢
~kzm~g{l\_gxl¬Ì{zgzmz]klz]qkkzgzg
~kzm~g{l\_gxl
°REMYxQYE OJHY \G]Y^Y GQJE JNJXMUGX XJGNQGXMJE W^WE jUJ REUY0 XRDUJ_UQJ
RTWMW\W`GUGXDJGEJQJEGHNJG^RNYHREQGUJE\Gª°è WEYNMZEYQj=J\JXMGUËWYUZ^Y
YENYDZEYJNDJ^¡=YTZQYXGURJQjUNJUGG^NJHGE
ª ùY`NRNYUZXRDUJ_UQJE[ZXYUZEOJXRDUJ_UjEG^RNYHREQGUJE\GEG_N[jE
³ >^RNYHRE QGUJE\G ª °è WE YNMZEQY GJ0 XRDUJ_UQJ YUZ^Y OYUQZU OJHY QGUJE[
XRDUJ_UQJRTWMW\W`GUGXDJGEJQJEGHNJQj=Dj=MjU
Ð ùY`NRNYUZ XRDUJ_UJ `YTNYQZXMYE REUY0 JNJXMUGTGE OJUGNDJGEGE YUQZEQYE XRD-
UJ_UZZEDYHY`Y=NYHY\YXMZU¡=YTZQYOJUGNDG=RNYEjUJNJUQJJNJXMUGXOJUQGXMJE
REUYG^RNYHREQGUJE\GEGMJXUYU_N[jE
>^RNYHRE QGUJE\G0 XRDUJ_UQJ RTWMW\W `GUGXDJG EJQJEGHNJ Qj=Dj=MjU
ùRDUJ_U¬YYMjUJHNJZZEQZXMYEREUYQGUJE[ª°èWEjMjEJ[ZXY\YXMZU
®ùRDUJ_UjEZZEDYZG[GEJUJXJEjUJYMDR¢JUGXXR=WNNYUYOJHYRTWMW\W
`GUGXDJGEJ_UJQJTG=GU´
ùRDUJ_Uj G[GEQJ RTWMW\W `GUGXDG= OY^GHJMMJ [YNZ=MZUDYX G[GE0 ]JU]YEG `GU
YUZ^YDJHQYEYJNDJGEG_ENJDJXYDY\ZHYXRDUJ_UjEJEY^ª³YYMjUJHNJ
ZZEDYZYTNYEDYNZQZU
¬ >^RNYHREQGUJE\Gª°èWEjMjEJ[ZXYUY0XRDUJ_UYUZ^YNZQJTGNQJDJXMGU
=l]]zv¢
.[^]zgzggzzkzgvm{~\q{_lkm_]~|\_mÀ\^zkz
lpz^zkv\z{zg_gzmzzvÀgx_zgz_k_]v\l]zkv_\lglz^g
¡EY JNJXMUGX =YNMJUGEG Y[MZXMYE ]JDJE REUY \G]Y^Z [YNZ=MZUDYX G[ YU[YNYUZE \GQQG
]YYU_UDJGEJHRNY[Y`GNGUºG]Y^ZE[YNZ=MZUZNY\YTZDJOGDQJYEYJNJXMUGX=YNMJUGEG
Y[ZX`ZUYXZEZ^
:z{z]l]~gv\~kk_\lg{_z|kzmj_\_]l\
ÇZ=jEGMJYUZ^YNZQJTGNQGUÇZ=jEGMJYUZ^YHYGUQGTGEQJQZ=jEGMJEGEXREMURNYERWEQYXG
ÁCÇHYEZ_EJU
ÆJDY^]JDQJZOZXJDJOYEYNYUZMYDYDJEY[ZX
