ÚÀѽ£¬ÎÒ¸úÄã½²°¡£¬×î½üÎÒÔÚÁï´ïµÄʱºò£¬ÅöÉÏÒ»¸öÍâµØÀ´µÄС»ï×Ó£¬¸éÄǶùÎÊÎҿ³ÇÄĸöÏï×ÓÀïÓÐÂôµÄ¡£ÄãËÃ÷ÈÕâʶù°É£¬Ìý׿òµ¥£¬Ï¸×ÁÄ¥»¹ÕæÊÇÓеãÃŵÀ£¡²»ÊÇËæ±ã×ß×ß¾ÍÄÜÕûÃ÷°×µÄ¡£
Õâ²»£¬ÎÒѰ˼×Å£¬ÔÛ½ñÌì¾ÍßëßëÕâ¸öʶù¡£¿Â³ÇÄĸöÏï×ÓÀïÓÐÂôµÄ£¬È·ÊµµÃÓе㡰ÑÛÁ¦¾¢¶ù¡±£¬²¢ÇÒÓÐʱºò°É£¬ÕæµÃ¿¿µãÔËÆø¡£ÄÇɶ£¬ÌýÎÒÂýÂý¸úÄãÞÛ¹þ¡ª¡ª
Ïï×ÓÀïÍ·µÄ½²¾¿£¬Õ¦Õû¶¼µÃ¶®
Äã˵¿Â³Ç°É£¬ÕâµØ·½Ïï×Ӷ࣬²Ø×ŵĺù¤¾ßÒ²ÔôÀ¶à¡£ÓÈÆäÊÇÄÇЩ²»ÆðÑÛµÄСÃÅÁ³£¬ÍâÍ·³òן®í×£¬ÀïÍ·È´ÐËÐíÄÜÈÃÄã¼ñ×ű¦¡£ÖªµÀ²»£¬¶«±±ÈËÓо仰½Ð¡°·ÏÎï¶ù¶¼¸éê¸ê¹ÀïÍ·¡±£¬ÕâÓÃÔڿ³ÇÏï×ÓÀ¿ÉÒ»µãû²î¡£
ºÃ±È°É£¬ÓÐÒ»»ØÎÒÁïµÖ´ïÄϱßÄǸöÀϽ֣¬¹Õ½øÒ»¸öÕÏï×Ó£¬³ò×ÅÒ»¼ÒÃſڹÒ×Å¡°¶«±±Ð¡³Ô¡±µÄÅÆ×Ó£¬¾Í½øÈ¥¿´¿´¡£½á¹ûÄã²ÂÔõô×Å£¿ÄǼÒÂôµÄ¹ø°üÈ⣬ζ¶ùÕýµÃ¸úÎÒСʱºò¼ÒÀï¹ýÄêÕûµÄËÆµÄ£¡ÔôÀËíµÀ£¬³ÔµÃÎÒÑÛÀá¶¼¿ìÏÂÀ´ÁË£¡
ÇÄÃþ¸æËßÄ㣺¿Â³ÇÏï×ÓÀïÄÇЩÃÅÁ³²»ÆðÑÛµÄС¹Ý×Ó£¬Ðí¶à¶¼ÊÇÀÏÊÖÒÕÈË¿ªµÄ¡£ËûÃDz»Ì«Í¼Ðû´«£¬Í¼µÄÊÇÒ»¸ö¡°ÐÄÀïÊæÌ¹¡±¡£Óеĵ꣬Á¬ÕÐÅÆ¶¼Ã»ÓУ¬ÄãµÃÎÊÎÊËÄÖÜÀϽַ»£¬²ÅÖªµÀÄĶùÓкù¤¾ß¡£![]()
Õûµã¡°Ó²»õ¡±³öÀ´£¬É¶Êǿ³ÇÏï×ÓÀïµÄ±¦
ÄÇɶ£¬³ýÁ˳Եģ¬¿Â³ÇÏï×ÓÀïÁíÓÐÂôµÄɶĨ£¿ÎÒ¸úÄã½²£¬ÎÄÍæ¡¢¾É»õ¡¢É¶ÆæÆæ¹Ö¹ÖµÄÐ¡ÍæÒâ¶ù£¬ÄÜÈÃÄ㿪Ñ۽硣ÉÏ»ØÎÒÈ¥±±±ßÀÏÊг¡ËÄÖÜ£¬ÓиöÏï×ÓÀïͷרÃÅÂôÀÏÎï¼þµÄ£¬É¶·ìÈÒ»ú¡¢Ì´ɸס¢ÉõÖÁÁíÓÐÒÔǰÔÛ¶«±±´ó¼¯ÉϵÄÀÏºìµÆÁý£¬Äã˵ϡ²»Ï¡º±£¿
ÓÐÒ»»Ø£¬ÎÒÁà×ÅÎÒ¼Òº¢×ÓÈ¥×ªÓÆ£¬Ñ°Ë¼¸øËûÂòµãÍæÒâ¶ù¡£½á¹ûº¢×ÓÒ»ÑÛ³òÖÐÁËÒ»°ÑÀÏʽÌúÆ¤Íæ¾ß³µ£¬Àϰå˵ÊÇ´ÓÉÏÊÀ¼ÍÆßÊ®Äê´úÁôÏÂÀ´µÄ£¬ÔôÕä¹ó¡£Äã˵£¬ÕâÍæÒâ¶ùÔÚ±ðµØ¶ù»¹ÕæÇ·ºÃÕÒ£¬¿Â³ÇÏï×ÓÀï¾ÍÄÜÌÔ×Å¡£
ÇÄÃþ¸æËßÄ㣺ҪÏëÌÔןù¤¾ß£¬¼Ç×ÅÒ»¸öµã¡ª¡ªÔçÉÏÈ¥£¡ÔçÊиհÚ̯µÄʱºò£¬ÀϰåÐÄÇéºÃ£¬ÍæÒâ¶ùÒ²ÐÂÏÊ¡£ÓÈÆäÊÇÎÄÍæºÍÀÏÎï¼þ£¬Ô½ÔçÔ½ÄÜÌÔµ½·ÏÎï¡£
Ïï×ÓÀïµÄ¹æÔò£¬±ðÅöÄÏǽ
²»¹ý°¡£¬ÎÒµÃÌáÐÑÄ㣬ÕâÏï×ÓÀïµÄ¹æÔò£¬¿É²»¿É²»¶®¡£ºÃ±È°É£¬ÓÐЩÏï×ÓÀïÂô¹¤¾ßµÄ£¬¼Û¸ñ¶¼ËµµÃ½û¾ø£¬ÄãµÃ»á¿³¼Û¡£ÔÙÓоÍÊÇ£¬±ðϹÅÄÕÕ£¬ÓеÄ̯Ö÷²»Ï²»¶±»ÅÄ£¬ÈÝÒׯð³åÍ»¡£
ÁíÓÐÒ»¸ö½²¾¿£¬ÏñÔÛ¶«±±µÄÀϹæÔò£¬Âò³ÔµÄÒªÏȳ¢³¢£¬±ðÇ·ÃÀÒâ˼ÕÅ×ì¡£Àϰ忴Äã»áÕû£¬»¹ÄÜ¶à¸øµãʵ»ÝÄØ£¡
×îºóÔÙßëÁ½¾ä£¬ÏëÎÊɶ¾¡¹Ü˵
Äã¿ÉÄÜ»áÎÊ£¬ÕâÏï×ÓÀ﾿¾¹É¶Ê±ºò×îÖµµÃÈ¥×ªÓÆ£¿ÕÕÎÒ˵°¡£¬Ò»°ãÔçÊкͻƻèÕâÁ½¸öʱ¼ä¶Î£¬×îÓÐÒâ˼¡£ÔçÊÐÊÇÌÔÐÂÏÊ»õ£¬»Æ»èÄØ£¬ÊÇÆ·ËíµÀС³Ô¡£Äã˵ÊDz»ÊÇ£¿
ÕâôµØ°É£¬½ñÌìßëµÄ¾Íµ½ÕâÁË£¬ÄãÒªÕæÏëÈ¥¿Â³ÇÏï×ÓÀï×ªÓÆ£¬¿ÉµÃ¼Ç×ÅÎҵϰ£¬Õûµã¡°ÑÛÁ¦¾¢¶ù¡±£¬±ð´í¹ýÄÇЩ²»ÆðÑ۵ķÏÎï¶ù£¡
±êÇ©£º¿Â³ÇÏï×Ó¡¢ËíµÀ¶«±±¡¢ÌÔ»õ¡¢ÀϹæÔò¡¢ÑÛÁ¦¾¢¶ù
¡¶ÈçºÎÕÒÕý¹æÉÏÃÅЧÀÍ¡·
ΪÔö½ø¾ßÉíÖÇÄܵÄѵÁ·ÓëÓ¦Óã¬ÉϺ£ÒÀÍÐÍ·²¿ÆóÒµºÍ¿ÆÑлú¹¹£¬´òÔìÐéʵÈںϡ¢Òì¹¹µÄ³¬´óÐÍÈËÐλúеÈËѵÁ·³¡£¬´î½¨³¬´ó¹æÄ£µÄ¶¼»á¼¶Ä£ÄâÓ¦Óó¡¾°£¬ÂÊÏȸ³ÄܾßÉíÖÇÄÜ´óÄ£ÐÍʵѵ¡£¡°¸ÃѵÁ·³¡¿Éʹ»úеÈËÔÚ½Ó½üÕæÊµµÄÅÓ´óÇé¿öÖÐѵÁ·£¬ÌáÉýÆäÇé¿öÊÊÓ¦ÐÔ¡¢½»»¥ÄÜÁ¦ºÍ×ÔÖ÷¾ö²ßÄÜÁ¦£¬¼ÓËÙ¹¤Òµ»¯½ø³Ì¡£¡±Ðí±ò˵¡£
¡¶»ÝÑôÐÂÛ×ÌÁÏÅÊг¡Ð¡Ïï×Ó¡·
´ÓÃÀ¹úµÄÕâЩ²Ù×÷À´¿´£¬Õâ¸üÏñÊÇÒ»³¡¾«ÐIJ߻®µÄ·ÅË®ÑøÓã¡£ÕâÐ©ÍøÂç»Ò²úÓÎÀëÓÚÖ÷Á÷µÄ½ðÈÚ¼à¹ÜÌåϵ֮Í⣬²»¾øÉú³¤×³´ó¡£¿ÉÊǵ½ÁËÐèÒªµÄʱºò£¬¾ÍÊÇÒòΪËü²»Õýµ±µÄÉí·ÝʵÖÊ£¬¶øÓпÉÄܻᱻһ¹ø¶Ë¡£
¡¶·¬Ø®ÄÏ´åСÏï×ÓÁµ°®¡·
Maybank SecuritiesÐÂ¼ÓÆÂ´ó×Ú¾¼ÍÒµÎñÖ÷¹ÜTareck HorchaniÌåÏÖ£¬Õâ´ÎÅ×ÊÛ¸üÏñÊDzÖλƽ²ÖºÍΣº¦ÊÕËõ£¬¶ø·ÇÓ¯Àû»ù±¾ÃæµÄʵÖʶñ»¯¡£µ±ÓͼÛÖèÉý¡¢Íâ»ã²¨¶¯ÂÊÌøÉýʱ£¬È«Çò×ʽðÍùÍù»áѸËÙ´ÓÁ÷¶¯ÐÔ×îºÃµÄÖ¸ÊýÈ¨ÖØ¹ÉÖÐÍËÈ´¡ª¡ª´Ë´ÎÅ×ÊÛÕýÊǼ¯ÖÐÓÚÕâЩ±êµÄ¡£