?????
?????,???????,?,???????????????????????????,????“????????????????????????”?,???????????,????????
????
?????????,??600???2????????????????????8??????????,???????????????“??????? ??”2025????,?????????30????????????1800????,??????????????????????????????
???,?????????????,???,??????????????
??11??????????????,?????????????????????,???????????????????????,???????72?????????????,?“??????”??3.46???????????,?????????????2.34????,??????????????226?,????????31.56?????????????????
???????????????????????????????????2????????????7????????????????“??????”??,??1877????????????????????1?????????20??????“????????”?,???????????????360???????3.3?,?????3200?????????,???????????????1000?????
???
??,?2????11???,?????????????????“??????????????”??????????????????,????“??,????,?????”????
????????????,2024?????,?????????????????????????????2.83???????,???????3.78?????????11718??????,?41%??????????????????,????????????,???????????
???2??????????13??“???”“???”???????????????,???,?????????“???????”,?????????????“?????????????????”?,????????“???????”?????????????,?2.7???
??,?145????????1???????31?????????“????????”?,???????????????????????????????????????????,?????????2.5????“??????????”??
????????,??,????????????,????“??+??????????”??????????????,??????“??”?????????????,?,???????,?????????????“???”,????,????,??????????????????????????????????????????2???????????15??,????19??????,?????1.1?????????
??
????«???“?????????”??????»???,??????????????????????????????????????,????
????????????????????????????????,????????????,??????????,??????????????????????????????????,??????????????????????????,???“???(???)”???????????????,????????????????????????,???????????
2024????????,???????????????????????,??????,??????????28%???????14%?????????,????,??????????“???????????????????????????????????”????????????????,???????????;???????????,????????,?????80?????????????????
???????????,?????????????????,????????????“??,??”??????,???????2025?????????????“???”,????????,???????????????????????????????1?????????????,????152.4??,??????55.2???????????????,????9.1%,?????????????????????????,??95%???????????,?????????
??????????:??????? ???? ? ??? ???? ???????????????????? ???:???
???????????????:?????????
???:???????????:????????
????????????????:?????
??????????!??????????40?
???????????????:?????????
???????4???????????????
??????????????????
?????????????????????
???????????????????????
??????????????????????
?????????????????????
??:??????????
?????????????????????
MSCI??????????“??”????
????????????????????
??????:?????????????
??????????????????
???????????????????
??:????????????
?????????????????????
??????????????????
????????????:????????
????????????????12?19?
???????????????????
????????10?50????????