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

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

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

?? ???,???90???????“??????????”??

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

2???????

3?????95?

4?????

5?????300??????

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

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

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