????:1????????:???????

2?????????????

3?????????

4?????90????????

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????? ???????????,???????????????,???,?(????)?

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

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