????????? ????:???????????????

???2021????????????? 9?????????????????,?(301055.SZ)??, ?????50????????????????????

??,???????????,????????????????????????????,??????????????20?????

????????????,???,?????????????????????????????????????????????

????5?, ????????,?????????????,?,??;???,????????????????

????,?????????,??1991??,????????????????1996????????????,???????????90?????????????,????????????,???????????????

?????????????????????????

????400??????,???,???????????,???????,??

?????,??,????????????????,?????

2007??11????????????,?????1.2?,??,?????????????70%?????

????????????,???????1992????????????,????????????????????,??????????????????????????????????????????????????????,??????????????????????,???????????????????

????????????,?????????????????????,?:“?,???,????????,????????????????;?,????,????????????????,??????????????????????”????,????????,??????????????????????,??,?,??

2012??,?,?????????2014???

???,2018?????????,??????????,??????????,???????????8.6??,???????????3.5????3000????2020?,????????2681.2595?????????????????????????/??/?,?????????2931.6416?????????????/???????????/??????????,?????109.34%;???659.796????????????/???????????/????????????,????620.8918??????/???/????,??????94.1%;?169.3806?????/????????????????????????/????????????

2021????,?????9???????6????????,???????????????,????400%,????53.18???

?????«2021??????????????????»?????,???????????110????????????,????????647??????????????

?????????????????????????,???????????????,???????,?????????

?,?????????????????

??????2018???2021??????,???,?????????????4.1?????????????4.84??5.72??????????????????7.6???;??4380??????????????????????7230??????7721????????7873???

?,???????????????? “??????”??????????2022?7???????????????????,????????,???????,?????????“??”???????????????,???,??????????

??????????????,?,?????,?????????????2023??????????1??,????????????2022?,?????,?????,?,?2023?????11?????????????????,???(??????)?,????????????2022?12??????4??????,??????,?????????,???7.84????????????,????,??????????????25?????

???????????????,??????????,??????????2022?????????,???????????8.27??,????8.75%;??4149??,?????47.3%?2023????,????8.11????????,???????1.82%;????2511.83??,?39.48%?

??????????????5??,?,??????????????????????????????????

?,??????2022???????????????7??2022??2023????????????? ?????????,??,??????,???(????????)?

??,???????????????:???????????,?????,??????????????;“????”??????2021?,???????????,???????????????,??????;??,?????

?????????,??????

????????????????????,?????????“????????????????”??

?????????,2022???????????????12?,?????,???,???????????,??????????????????????????????,???????????;???????????????????????,??????????????????????????????,???????????????2024??????????5???????????

????????????,????????????2018?5?????,????????????,??????

?,?????,??

???????????????,?????????????48.72%??????,?????????????;??100%?,??????,????????????????80%??20%??????,???????8.43???????

?3??,?1.28??????,??????????5?????????,????????????????3???????,??????????,?“????????????”?????

???????????,?????“????????????????????????????”?????????????????,“???????????????????,?????”?

????????,??,???????“????”??,????????????????,??????

????????,??5???,2021??????2023????????????5.26????5.64????????????????5.61???????????????

???????????????,???,?????????????????????????????Euromonitor?????,?,2020??????????,???????????????????????????????,?????????????2%??

????????????????,???????,??????????????,?????????,?????????????????????????????????,?,???????????????????????????????????,????????????,?????????????2021???????????????????????-2023?,????1.49?????1.83???????1.65?????????,??????????????????0.65%?23%????-9.62%???????,??8000?????????????????

????,???????????????????????????????,?????????????,????????????????“?????????”???????????????,?????????????? ???:?????????? ??“????VX”????

?? ???,??????????90??“???”???????

????:1?????VX:qq???????

2????????

3??????????????

4??????????

5???????

????????? ????:???????????????

???2021????????????? 9?????????????????,?(301055.SZ)??, ?????50????????????????????

??,???????????,????????????????????????????,??????????????20?????

????????????,???,?????????????????????????????????????????????

????5?, ????????,?????????????,?,??;???,????????????????

????,?????????,??1991??,????????????????1996????????????,???????????90?????????????,????????????,???????????????

?????????????????????????

????400??????,???,???????????,???????,??

?????,??,????????????????,?????

2007??11????????????,?????1.2?,??,?????????????70%?????

????????????,???????1992????????????,????????????????????,??????????????????????????????????????????????????????,??????????????????????,???????????????????

????????????,?????????????????????,?:“?,???,????????,????????????????;?,????,????????????????,??????????????????????”????,????????,??????????????????????,??,?,??

2012??,?,?????????2014???

???,2018?????????,??????????,??????????,???????????8.6??,???????????3.5????3000????2020?,????????2681.2595?????????????????????????/??/?,?????????2931.6416?????????????/???????????/??????????,?????109.34%;???659.796????????????/???????????/????????????,????620.8918??????/???/????,??????94.1%;?169.3806?????/????????????????????????/????????????

2021????,?????9???????6????????,???????????????,????400%,????53.18???

?????«2021??????????????????»?????,???????????110????????????,????????647??????????????

?????????????????????????,???????????????,???????,?????????

?,?????????????????

??????2018???2021??????,???,?????????????4.1?????????????4.84??5.72??????????????????7.6???;??4380??????????????????????7230??????7721????????7873???

?,???????????????? “??????”??????????2022?7???????????????????,????????,???????,?????????“??”???????????????,???,??????????

??????????????,?,?????,?????????????2023??????????1??,????????????2022?,?????,?????,?,?2023?????11?????????????????,???(??????)?,????????????2022?12??????4??????,??????,?????????,???7.84????????????,????,??????????????25?????

???????????????,??????????,??????????2022?????????,???????????8.27??,????8.75%;??4149??,?????47.3%?2023????,????8.11????????,???????1.82%;????2511.83??,?39.48%?

??????????????5??,?,??????????????????????????????????

?,??????2022???????????????7??2022??2023????????????? ?????????,??,??????,???(????????)?

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?????????,2022???????????????12?,?????,???,???????????,??????????????????????????????,???????????;???????????????????????,??????????????????????????????,???????????????2024??????????5???????????

????????????,????????????2018?5?????,????????????,??????

?,?????,??

???????????????,?????????????48.72%??????,?????????????;??100%?,??????,????????????????80%??20%??????,???????8.43???????

?3??,?1.28??????,??????????5?????????,????????????????3???????,??????????,?“????????????”?????

???????????,?????“????????????????????????????”?????????????????,“???????????????????,?????”?

????????,??,???????“????”??,????????????????,??????

????????,??5???,2021??????2023????????????5.26????5.64????????????????5.61???????????????

???????????????,???,?????????????????????????????Euromonitor?????,?,2020??????????,???????????????????????????????,?????????????2%??

????????????????,???????,??????????????,?????????,?????????????????????????????????,?,???????????????????????????????????,????????????,?????????????2021???????????????????????-2023?,????1.49?????1.83???????1.65?????????,??????????????????0.65%?23%????-9.62%???????,??8000?????????????????

????,???????????????????????????????,?????????????,????????????????“?????????”???????????????,?????????????? ???:??????????