{"id":19485,"date":"2025-11-11T11:36:35","date_gmt":"2025-11-11T03:36:35","guid":{"rendered":"https:\/\/winsmart.tw\/?post_type=trading_knowledge&#038;p=19485"},"modified":"2025-11-11T11:37:50","modified_gmt":"2025-11-11T03:37:50","slug":"%e6%8a%98%e5%83%b9%e7%99%bc%e8%a1%8c","status":"publish","type":"trading_knowledge","link":"https:\/\/winsmart.tw\/en\/trading_knowledge\/%e6%8a%98%e5%83%b9%e7%99%bc%e8%a1%8c\/","title":{"rendered":"\u6298\u50f9\u767c\u884c\u662f\u8cfa\u9084\u662f\u8667\uff1f\u6559\u4f60\u770b\u61c2\u516c\u53f8\u70ba\u4ec0\u9ebc\u8981\u4f4e\u50f9\u767c\u80a1\u7968\uff01"},"content":{"rendered":"<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0693e3\"><strong>\u6298\u50f9\u767c\u884c 01. \u6298\u50f9\u767c\u884c\u662f\u4ec0\u9ebc\uff1f<\/strong><\/h2><p>\u6240\u8b02\u300c\u6298\u50f9\u767c\u884c\u300d\uff08Discounted Issue\uff09\uff0c\u6307\u7684\u662f\u4f01\u696d\u5728\u767c\u884c\u65b0\u80a1\u6642\uff0c\u8a2d\u5b9a\u7684\u767c\u884c\u50f9\u683c\u4f4e\u65bc\u80a1\u7968\u7684\u9762\u984d\u6216\u5176\u5e02\u5834\u5167\u5728\u50f9\u503c\u3002\u63db\u8a00\u4e4b\uff0c\u516c\u53f8\u9078\u64c7\u4ee5\u8f03\u4f4e\u7684\u50f9\u683c\u91cb\u51fa\u80a1\u4efd\u7d66\u6295\u8cc7\u4eba\uff0c\u8b93\u53c3\u8207\u8005\u80fd\u4ee5\u6298\u6263\u50f9\u8cfc\u5f97\u80a1\u7968\u3002\u9019\u6a23\u7684\u505a\u6cd5\uff0c\u5e38\u898b\u65bc\u4f01\u696d\u5e0c\u671b\u5feb\u901f\u7c4c\u63aa\u8cc7\u91d1\u3001\u63d0\u5347\u80a1\u7968\u6d41\u901a\u6027\uff0c\u6216\u5728\u5e02\u5834\u6c23\u6c1b\u4e0d\u4f73\u6642\u5438\u5f15\u6295\u8cc7\u4eba\u8a8d\u8cfc\u3002<\/p><p>\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0c\u300c\u9762\u984d\u300d\u8207\u300c\u767c\u884c\u50f9\u300d\u662f\u5169\u500b\u4e0d\u540c\u7684\u6982\u5ff5\u3002\u9762\u984d\u50c5\u662f\u516c\u53f8\u7ae0\u7a0b\u4e2d\u8a2d\u5b9a\u7684\u540d\u7fa9\u50f9\u503c\uff0c\u4ee3\u8868\u80a1\u4efd\u7684\u57fa\u672c\u6703\u8a08\u91d1\u984d\uff1b\u800c\u300c\u767c\u884c\u50f9\u300d\u5247\u53cd\u6620\u5e02\u5834\u4f9b\u9700\u3001\u516c\u53f8\u57fa\u672c\u9762\u4ee5\u53ca\u6295\u8cc7\u4eba\u5c0d\u8a72\u4f01\u696d\u7684\u8a55\u50f9\u3002\u5169\u8005\u4e26\u975e\u5fc5\u7136\u76f8\u7b49\uff0c\u56e0\u6b64\u6298\u50f9\u767c\u884c\u7684\u60c5\u6cc1\u4e26\u4e0d\u7f55\u898b\u3002<\/p><p>\u6b64\u5916\uff0c\u5168\u7403\u5404\u5730\u7684\u8b49\u5238\u6cd5\u898f\u4e26\u4e0d\u5b8c\u5168\u4e00\u81f4\u3002\u5728\u90e8\u5206\u570b\u5bb6\u6216\u5730\u5340\uff0c\u4f01\u696d\u88ab\u5141\u8a31\u4ee5\u4f4e\u65bc\u9762\u984d\u7684\u50f9\u683c\u767c\u884c\u80a1\u7968\uff0c\u6216\u6839\u64da\u8cc7\u672c\u5e02\u5834\u689d\u4ef6\u3001\u516c\u53f8\u7372\u5229\u72c0\u6cc1\u3001\u914d\u606f\u653f\u7b56\u53ca\u5229\u7387\u6c34\u6e96\u7b49\u591a\u91cd\u56e0\u7d20\uff0c\u81ea\u4e3b\u6c7a\u5b9a\u6700\u9069\u5408\u7684\u767c\u884c\u50f9\u683c\u3002\u5c0d\u4f01\u696d\u800c\u8a00\uff0c\u9019\u662f\u4e00\u7a2e\u9748\u6d3b\u7684\u8cc7\u672c\u904b\u4f5c\u624b\u6bb5\uff1b\u5c0d\u6295\u8cc7\u4eba\u800c\u8a00\uff0c\u6298\u50f9\u767c\u884c\u5247\u610f\u5473\u8457\u6709\u6a5f\u6703\u4ee5\u76f8\u5c0d\u512a\u60e0\u7684\u50f9\u683c\u53c3\u8207\u516c\u53f8\u6210\u9577\u3002<\/p><figure class=\"wp-block-image alignwide size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"867\" height=\"497\" src=\"https:\/\/winsmart.tw\/wp-content\/uploads\/2025\/11\/image-2.png\" alt=\"\u6298\u50f9\u767c\u884c\" class=\"wp-image-25201\" srcset=\"https:\/\/winsmart.tw\/wp-content\/uploads\/2025\/11\/image-2.png 867w, https:\/\/winsmart.tw\/wp-content\/uploads\/2025\/11\/image-2-300x172.png 300w, https:\/\/winsmart.tw\/wp-content\/uploads\/2025\/11\/image-2-768x440.png 768w, https:\/\/winsmart.tw\/wp-content\/uploads\/2025\/11\/image-2-18x10.png 18w, https:\/\/winsmart.tw\/wp-content\/uploads\/2025\/11\/image-2-600x344.png 600w\" sizes=\"(max-width: 867px) 100vw, 867px\" \/><figcaption class=\"wp-element-caption\">\u6298\u50f9\u767c\u884c<\/figcaption><\/figure><h2 class=\"wp-block-heading has-text-color\" style=\"color:#0693e3\"><strong>\u6298\u50f9\u767c\u884c 02. \u4f4e\u50f9\u767c\u884c\u662f\u4ec0\u9ebc\uff1f<\/strong><\/h2><p>\u6240\u8b02\u300c\u4f4e\u50f9\u767c\u884c\u300d\uff0c\u5be6\u969b\u4e0a\u662f\u300c\u6298\u50f9\u767c\u884c\u300d\u7684\u4e00\u7a2e\u5177\u9ad4\u8868\u73fe\u3002\u7c21\u55ae\u4f86\u8aaa\uff0c\u5c31\u662f\u516c\u53f8\u5728\u767c\u884c\u65b0\u80a1\u6642\uff0c\u9078\u64c7\u4ee5\u4f4e\u65bc\u9762\u984d\u6216\u5e02\u50f9\u7684\u50f9\u683c\u51fa\u552e\u80a1\u4efd\uff0c\u7b49\u540c\u65bc\u7d66\u4e88\u6295\u8cc7\u4eba\u4e00\u5b9a\u7684\u50f9\u683c\u6298\u6263\u3002<\/p><p>\u9019\u6a23\u7684\u6298\u6263\u6bd4\u4f8b\uff0c\u901a\u5e38\u7531\u516c\u53f8\u8207\u627f\u92b7\u5546\uff08Underwriter\uff09\u5171\u540c\u5354\u5546\u6c7a\u5b9a\uff0c\u8003\u91cf\u56e0\u7d20\u5305\u62ec\u5e02\u5834\u9700\u6c42\u3001\u516c\u53f8\u8a55\u50f9\u3001\u6574\u9ad4\u7c4c\u8cc7\u898f\u6a21\u4ee5\u53ca\u7576\u524d\u5e02\u5834\u60c5\u7dd2\u3002\u4f8b\u5982\uff0c\u82e5\u516c\u53f8\u8a2d\u5b9a\u6298\u6263\u7387\u70ba 10%\uff0c\u800c\u80a1\u7968\u9762\u984d\u70ba\u6bcf\u80a1 10 \u5143\uff0c\u5247\u5be6\u969b\u767c\u884c\u50f9\u5c07\u70ba\u6bcf\u80a1 9 \u5143\u3002<\/p><p>\u9019\u6a23\u7684\u8a2d\u8a08\u53ef\u63d0\u5347\u65b0\u80a1\u767c\u884c\u7684\u5438\u5f15\u529b\uff0c\u6709\u52a9\u65bc\u5728\u8cc7\u672c\u5e02\u5834\u7c4c\u96c6\u8cc7\u91d1\u3002\u7136\u800c\uff0c\u5f9e\u6295\u8cc7\u89d2\u5ea6\u4f86\u770b\uff0c\u6298\u50f9\u767c\u884c\u96d6\u70ba\u77ed\u671f\u8a98\u56e0\uff0c\u4f46\u4e5f\u53ef\u80fd\u53cd\u6620\u5e02\u5834\u5c0d\u516c\u53f8\u524d\u666f\u6216\u8cc7\u91d1\u9700\u6c42\u7684\u5be9\u614e\u614b\u5ea6\uff0c\u56e0\u6b64\u4ecd\u9700\u7d9c\u5408\u8a55\u4f30\u57fa\u672c\u9762\u8207\u5e02\u5834\u53cd\u61c9\u5f8c\u518d\u505a\u6c7a\u7b56\u3002<\/p><h2 class=\"wp-block-heading has-text-color\" style=\"color:#0693e3\"><strong>\u6298\u50f9\u767c\u884c 03. \u6298\u50f9\u767c\u884c\u82f1\u6587\u600e\u9ebc\u8aaa\uff1f<\/strong><\/h2><p>\u300c\u6298\u50f9\u767c\u884c\u300d\u5728\u82f1\u6587\u4e2d\u901a\u5e38\u8868\u9054\u70ba <strong>\u201cAt a Discount\u201d<\/strong>\u3002\u82e5\u5728\u5916\u570b\u80a1\u5e02\u6216\u8ca1\u7d93\u5831\u5c0e\u4e2d\u770b\u5230\u300c\u67d0\u6a94\u80a1\u7968 <em>at a discounted price<\/em>\u300d\uff0c\u5f80\u5f80\u6307\u7684\u662f\u8a72\u516c\u53f8\u4ee5\u6298\u6263\u50f9\u9032\u884c\u65b0\u80a1\u767c\u884c\uff0c\u4ea6\u5373\u6298\u50f9\u767c\u884c\uff08Discounted Issue\uff09\u3002<\/p><p>\u4e0d\u904e\u9700\u8981\u7559\u610f\u7684\u662f\uff0c\u82f1\u6587\u4e2d\u300cat discount\u300d\u6216\u300cat a discount\u300d\u7684\u7528\u6cd5\u4e26\u4e0d\u7e3d\u662f\u4ee3\u8868\u300c\u6298\u50f9\u767c\u884c\u300d\u3002\u6709\u6642\u5019\uff0c\u5b83\u53ea\u662f\u55ae\u7d14\u63cf\u8ff0\u80a1\u7968\u7576\u524d\u7684\u4ea4\u6613\u50f9\u683c\u4f4e\u65bc\u5148\u524d\u7684\u6536\u76e4\u50f9\u6216\u6b77\u53f2\u5e73\u5747\u50f9\uff0c\u5e36\u6709\u300c\u50f9\u683c\u76f8\u5c0d\u4fbf\u5b9c\u300d\u6216\u300c\u5177\u5438\u5f15\u529b\u50f9\u4f4d\u300d\u7684\u610f\u601d\u3002\u4f8b\u5982\uff1a\u300cThe stock is trading at a discount to its previous close\u300d\u9019\u53e5\u8a71\uff0c\u610f\u6307\u8a72\u80a1\u73fe\u50f9\u8f03\u6628\u65e5\u6536\u76e4\u50f9\u7565\u4f4e\uff0c\u4e26\u975e\u516c\u53f8\u6b63\u5728\u9032\u884c\u6298\u50f9\u767c\u884c\u3002<\/p><p>\u7531\u65bc\u5404\u5730\u5e02\u5834\u7528\u8a9e\u3001\u6703\u8a08\u5236\u5ea6\u8207\u8b49\u5238\u76e3\u7ba1\u898f\u7bc4\u4e0d\u76e1\u76f8\u540c\uff0c\u6295\u8cc7\u4eba\u82e5\u6d89\u8db3\u570b\u969b\u5e02\u5834\uff0c\u61c9\u7279\u5225\u6ce8\u610f\u76f8\u95dc\u8a9e\u5883\u8207\u689d\u4ef6\uff0c\u907f\u514d\u8aa4\u89e3\u3002\u6295\u8cc7\u524d\u9032\u884c\u5145\u5206\u7814\u7a76\u8207\u8cc7\u8a0a\u78ba\u8a8d\uff0c\u59cb\u80fd\u5728\u5168\u7403\u5e02\u5834\u4e2d\u7cbe\u6e96\u5224\u8b80\u8a0a\u606f\u3001\u638c\u63e1\u771f\u6b63\u7684\u6295\u8cc7\u6a5f\u6703\u3002<\/p><p><strong>\u5ef6\u4f38\u95b1\u8b80\uff1a<a href=\"https:\/\/winsmart.tw\/en\/online_teaching\/%e8%82%a1%e7%81%bd\/\">\u80a1\u707d\u6dd8\u91d1\u8853\uff0c2\u62db\u6559\u4f60\u5d29\u76e4\u53cd\u800c\u8cfa\u66f4\u591a!<\/a><\/strong><\/p><p>\ud83d\udc49<strong>\u5982\u4f55\u6293\u4f4f\u8d77\u6f32\u9ede ? \u514d\u8cbb\u7d22\u53d6 &gt;&gt;&nbsp;<a href=\"https:\/\/winsmart.tw\/en\/trading_knowledge\/%e8%b5%b7%e6%bc%b2%e9%bb%9e\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u9ad8\u500d\u901f\u7372\u5229\u8cb7\u9ede\u96fb\u5b50\u66f8<\/a><\/strong><\/p><figure class=\"wp-block-image alignwide\"><a href=\"https:\/\/winsmart.tw\/en\/trading_knowledge\/%e8%b5%b7%e6%bc%b2%e9%bb%9e\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/options.tw\/wp-content\/uploads\/2022\/01\/%E9%AB%98%E5%80%8D%E9%80%9F%E7%8D%B2%E5%88%A9%E8%B2%B7%E9%BB%9E%E9%9B%BB%E5%AD%90%E6%9B%B8-1024x535.jpg\" alt=\"\u9ad8\u500d\u901f\u7372\u5229\u8cb7\u9ede\u96fb\u5b50\u66f8\" class=\"wp-image-6998\"\/><\/a><\/figure><h2 class=\"wp-block-heading has-text-color\" style=\"color:#0693e3\"><strong>\u6298\u50f9\u767c\u884c 04. \u70ba\u4ec0\u9ebc\u516c\u53f8\u8981\u6298\u50f9\u767c\u884c\uff1f<\/strong><\/h2><p>\u901a\u5e38\u6703\u63a1\u53d6\u300c\u6298\u50f9\u767c\u884c\u300d\u7b56\u7565\u7684\u516c\u53f8\uff0c\u591a\u534a\u8655\u65bc\u8cc7\u91d1\u9700\u6c42\u8f03\u9ad8\u7684\u968e\u6bb5\u3002\u6298\u50f9\u767c\u884c\u7684\u6838\u5fc3\u76ee\u7684\uff0c\u662f\u900f\u904e\u8f03\u5177\u5438\u5f15\u529b\u7684\u767c\u884c\u50f9\u683c\uff0c\u52a0\u901f\u8cc7\u91d1\u52df\u96c6\u9032\u7a0b\uff0c\u4ee5\u652f\u6490\u4f01\u696d\u71df\u904b\u6216\u64f4\u5f35\u8a08\u756b\u3002<\/p><p>\u5728\u5be6\u52d9\u4e0a\uff0c\u5e38\u898b\u7684\u60c5\u6cc1\u5305\u62ec\u516c\u53f8\u9032\u5165\u5feb\u901f\u6210\u9577\u671f\uff0c\u9700\u8981\u984d\u5916\u8cc7\u91d1\u6295\u5165\u65b0\u5c08\u6848\u3001\u7814\u767c\u65b0\u6280\u8853\u6216\u62d3\u5c55\u6d77\u5916\u5e02\u5834\uff1b\u4e5f\u53ef\u80fd\u662f\u4f01\u696d\u9762\u81e8\u77ed\u671f\u50b5\u52d9\u58d3\u529b\uff0c\u5fc5\u9808\u511f\u9084\u8cb8\u6b3e\u3001\u512a\u5316\u8ca1\u52d9\u7d50\u69cb\u3002\u900f\u904e\u6298\u50f9\u767c\u884c\uff0c\u516c\u53f8\u80fd\u5728\u77ed\u6642\u9593\u5167\u5438\u5f15\u6295\u8cc7\u4eba\u53c3\u8207\uff0c\u63d0\u9ad8\u80a1\u7968\u7684\u8a8d\u8cfc\u610f\u9858\u8207\u5e02\u5834\u6d41\u52d5\u6027\u3002<\/p><p>\u53e6\u4e00\u7a2e\u60c5\u6cc1\u5247\u51fa\u73fe\u5728\u5e02\u5834\u74b0\u5883\u4e0d\u4f73\u6216\u7522\u696d\u666f\u6c23\u4f4e\u8ff7\u6642\u3002\u7576\u4f01\u696d\u7372\u5229\u80fd\u529b\u66ab\u6642\u53d7\u9650\uff0c\u6216\u5e02\u5834\u4fe1\u5fc3\u4e0d\u8db3\u6642\uff0c\u6298\u50f9\u767c\u884c\u6210\u70ba\u4e00\u7a2e\u300c\u4ee5\u50f9\u5236\u91cf\u300d\u7684\u7c4c\u8cc7\u65b9\u5f0f\u3002\u85c9\u7531\u964d\u4f4e\u767c\u884c\u50f9\u683c\uff0c\u516c\u53f8\u5f97\u4ee5\u5728\u9006\u98a8\u4e2d\u4ecd\u5438\u5f15\u8cc7\u91d1\u9032\u5165\uff0c\u7dad\u6301\u8cc7\u672c\u904b\u4f5c\u7684\u5f48\u6027\u3002<\/p><p>\u6574\u9ad4\u800c\u8a00\uff0c\u6298\u50f9\u767c\u884c\u662f\u4e00\u7a2e\u6b0a\u8861\u901f\u5ea6\u8207\u6210\u672c\u7684\u7c4c\u8cc7\u624b\u6bb5\u3002\u5b83\u80fd\u8fc5\u901f\u88dc\u5145\u73fe\u91d1\u6d41\uff0c\u4f46\u540c\u6642\u4e5f\u53ef\u80fd\u9020\u6210\u73fe\u6709\u80a1\u6771\u6301\u80a1\u88ab\u7a00\u91cb\uff08dilution\uff09\u6216\u77ed\u671f\u80a1\u50f9\u58d3\u529b\u3002\u56e0\u6b64\uff0c\u5c08\u696d\u6295\u8cc7\u4eba\u5728\u9762\u5c0d\u6298\u50f9\u767c\u884c\u6d88\u606f\u6642\uff0c\u61c9\u5f9e\u516c\u53f8\u8ca1\u52d9\u7d50\u69cb\u3001\u7522\u696d\u524d\u666f\u8207\u8cc7\u91d1\u7528\u9014\u4e09\u500b\u9762\u5411\u9032\u884c\u8a55\u4f30\uff0c\u624d\u80fd\u5224\u65b7\u5176\u80cc\u5f8c\u7a76\u7adf\u662f\u300c\u7a4d\u6975\u64f4\u5f35\u300d\u9084\u662f\u300c\u88ab\u52d5\u6c42\u751f\u300d\u3002<\/p><h2 class=\"wp-block-heading has-text-color\" style=\"color:#0693e3\"><strong>\u6298\u50f9\u767c\u884c 05. \u6298\u50f9\u767c\u884c\u6709\u54ea\u4e9b\u7f3a\u9ede ?<\/strong><\/h2><p>\u96d6\u7136\u6298\u50f9\u767c\u884c\u80fd\u6709\u6548\u5354\u52a9\u4f01\u696d\u5728\u77ed\u671f\u5167\u7c4c\u63aa\u8cc7\u91d1\uff0c\u4f46\u5c0d\u516c\u53f8\u8207\u6295\u8cc7\u4eba\u800c\u8a00\uff0c\u9019\u9805\u7b56\u7565\u540c\u6642\u4e5f\u662f\u4e00\u628a\u300c\u96d9\u9762\u5203\u300d\u3002\u5728\u5e02\u5834\u5c64\u9762\uff0c\u6298\u50f9\u767c\u884c\u5f80\u5f80\u6703\u5c0d\u73fe\u6709\u80a1\u50f9\u9020\u6210\u58d3\u529b\u3002\u7576\u516c\u53f8\u5ba3\u5e03\u4ee5\u4f4e\u65bc\u5e02\u50f9\u7684\u50f9\u683c\u767c\u884c\u65b0\u80a1\u6642\uff0c\u5e02\u5834\u5bb9\u6613\u89e3\u8b80\u70ba\u516c\u53f8\u6025\u9700\u8cc7\u91d1\u6216\u73fe\u91d1\u6d41\u7dca\u7e2e\u7684\u8a0a\u865f\uff0c\u9032\u800c\u5f15\u767c\u90e8\u5206\u6295\u8cc7\u4eba\u5c0d\u516c\u53f8\u7d93\u71df\u72c0\u6cc1\u8207\u524d\u666f\u7684\u7591\u616e\u3002<\/p><p>\u5e02\u5834\u7684\u53cd\u61c9\u901a\u5e38\u6703\u5206\u6210\u5169\u6d3e\uff1a\u6a02\u89c0\u8005\u8a8d\u70ba\u6298\u50f9\u767c\u884c\u63d0\u4f9b\u4e86\u300c\u64bf\u4fbf\u5b9c\u300d\u7684\u6a5f\u6703\uff0c\u800c\u60b2\u89c0\u8005\u5247\u64d4\u5fc3\u9019\u53cd\u6620\u4e86\u516c\u53f8\u57fa\u672c\u9762\u75b2\u5f31\u3001\u672a\u4f86\u6210\u9577\u6f5b\u529b\u6709\u9650\u3002\u82e5\u5f8c\u8005\u7684\u8072\u97f3\u5360\u4e0a\u98a8\uff0c\u6295\u8cc7\u4fe1\u5fc3\u4e0b\u964d\uff0c\u80a1\u50f9\u77ed\u671f\u5167\u53ef\u80fd\u9762\u81e8\u4e0b\u4fee\u58d3\u529b\u3002<\/p><p>\u6b64\u5916\uff0c\u6298\u50f9\u767c\u884c\u5c6c\u65bc\u589e\u8cc7\u884c\u70ba\uff0c\u672c\u8cea\u4e0a\u6703\u5c0e\u81f4\u516c\u53f8\u7e3d\u80a1\u672c\u589e\u52a0\u3001\u6bcf\u80a1\u76c8\u9918\uff08EPS\uff09\u88ab\u7a00\u91cb\u3002\u5c0d\u65bc\u65e2\u6709\u80a1\u6771\u800c\u8a00\uff0c\u6301\u80a1\u6bd4\u4f8b\u4e0b\u964d\u3001\u6301\u80a1\u50f9\u503c\u88ab\u7a00\u91cb\uff0c\u518d\u52a0\u4e0a\u65b0\u6295\u8cc7\u4eba\u80fd\u4ee5\u66f4\u4f4e\u50f9\u683c\u53d6\u5f97\u80a1\u4efd\uff0c\u5fc3\u7406\u5c64\u9762\u96e3\u514d\u7522\u751f\u4e0d\u6eff\u6216\u4fe1\u4efb\u611f\u53d7\u640d\u3002\u82e5\u516c\u53f8\u5f8c\u7e8c\u672a\u80fd\u6709\u6548\u5229\u7528\u52df\u96c6\u8cc7\u91d1\u5275\u9020\u66f4\u9ad8\u5831\u916c\uff0c\u53cd\u800c\u53ef\u80fd\u5c0e\u81f4\u5e02\u5834\u4fe1\u5fc3\u9032\u4e00\u6b65\u60e1\u5316\uff0c\u5f62\u6210\u300c\u8cc7\u91d1\u6210\u672c\u4e0a\u5347\u3001\u4f30\u503c\u4e0b\u6ed1\u300d\u7684\u60e1\u6027\u5faa\u74b0\u3002<\/p><p>\u56e0\u6b64\uff0c\u6298\u50f9\u767c\u884c\u96d6\u662f\u4e00\u7a2e\u5feb\u901f\u7c4c\u8cc7\u7684\u624b\u6bb5\uff0c\u4f46\u82e5\u7f3a\u4e4f\u660e\u78ba\u7684\u8cc7\u91d1\u7528\u9014\u8207\u826f\u597d\u7684\u6e9d\u901a\u7b56\u7565\uff0c\u53cd\u800c\u53ef\u80fd\u9069\u5f97\u5176\u53cd\u3002\u5c0d\u6295\u8cc7\u4eba\u800c\u8a00\uff0c\u770b\u5230\u516c\u53f8\u5ba3\u5e03\u6298\u50f9\u767c\u884c\u6642\uff0c\u61c9\u9032\u4e00\u6b65\u6aa2\u8996\u516c\u53f8\u73fe\u91d1\u6d41\u72c0\u6cc1\u3001\u8ca0\u50b5\u7d50\u69cb\u53ca\u52df\u8cc7\u8a08\u756b\u662f\u5426\u5177\u5408\u7406\u6027\uff0c\u624d\u80fd\u5224\u65b7\u9019\u662f\u5426\u5c6c\u65bc\u300c\u7a4d\u6975\u6210\u9577\u300d\u9084\u662f\u300c\u88ab\u8feb\u878d\u8cc7\u300d\u3002<\/p><h2 class=\"wp-block-heading has-text-color\" style=\"color:#0693e3\"><strong>\u6298\u50f9\u767c\u884c 06. \u6298\u50f9\u767c\u884c\u6709\u54ea\u4e9b\u512a\u9ede ?<\/strong><\/h2><p>\u5f9e\u6295\u8cc7\u8005\u7684\u89d2\u5ea6\u4f86\u770b\uff0c\u6298\u50f9\u767c\u884c\u65e2\u662f\u4e00\u7a2e\u98a8\u96aa\u8a0a\u865f\uff0c\u4e5f\u53ef\u80fd\u662f\u6975\u5177\u5438\u5f15\u529b\u7684\u6295\u8cc7\u5951\u6a5f\u3002\u7576\u516c\u53f8\u4ee5\u4f4e\u65bc\u9762\u984d\u6216\u5e02\u50f9\u7684\u50f9\u683c\u767c\u884c\u65b0\u80a1\uff0c\u610f\u5473\u8457\u65b0\u9032\u6295\u8cc7\u4eba\u80fd\u4ee5\u76f8\u5c0d\u512a\u60e0\u7684\u6210\u672c\u5207\u5165\uff0c\u82e5\u8a72\u4f01\u696d\u5177\u5099\u7a69\u5065\u7684\u57fa\u672c\u9762\u8207\u9577\u671f\u6210\u9577\u6f5b\u529b\uff0c\u9019\u6a23\u7684\u6a5f\u6703\u5f80\u5f80\u53ef\u8996\u70ba\u300c\u9650\u6642\u6298\u6263\u300d\u822c\u7684\u9032\u5834\u6642\u9ede\uff0c\u932f\u904e\u53ef\u80fd\u591a\u5e74\u96e3\u9022\u3002<\/p><p>\u6b64\u5916\uff0c\u6298\u50f9\u767c\u884c\u5e38\u6703\u6fc0\u767c\u5e02\u5834\u7684\u4ea4\u6613\u71b1\u5ea6\uff0c\u5e36\u52d5\u8cc7\u91d1\u6d41\u5165\u4e26\u63d0\u5347\u6574\u9ad4\u6d41\u52d5\u6027\u3002\u5c0d\u65e2\u6709\u6295\u8cc7\u4eba\u800c\u8a00\uff0c\u9019\u6a23\u7684\u74b0\u5883\u8b8a\u5316\u4e5f\u53ef\u80fd\u5275\u9020\u51fa\u63db\u624b\u5951\u6a5f\u2014\u2014\u7576\u5e02\u5834\u60c5\u7dd2\u56de\u6eab\u3001\u6210\u4ea4\u91cf\u653e\u5927\u6642\uff0c\u624b\u4e2d\u539f\u6709\u6301\u80a1\u4fbf\u6709\u6a5f\u6703\u5728\u66f4\u6709\u5229\u7684\u50f9\u4f4d\u9032\u884c\u8abf\u6574\u6216\u91cd\u65b0\u5e03\u5c40\u3002<\/p><p>\u7576\u7136\uff0c\u5c08\u696d\u6295\u8cc7\u4eba\u6703\u66f4\u9032\u4e00\u6b65\u8a55\u4f30\u6298\u50f9\u80cc\u5f8c\u7684\u672c\u8cea\uff1a\u82e5\u516c\u53f8\u6298\u50f9\u767c\u884c\u662f\u57fa\u65bc\u64f4\u5f35\u3001\u7814\u767c\u6216\u5e02\u5834\u4f48\u5c40\u7b49\u9577\u671f\u7b56\u7565\uff0c\u90a3\u9ebc\u9019\u985e\u589e\u8cc7\u884c\u70ba\u5f80\u5f80\u5177\u6709\u6b63\u9762\u610f\u7fa9\uff1b\u4f46\u82e5\u6298\u50f9\u50c5\u70ba\u77ed\u671f\u6551\u6025\u6216\u8ca1\u52d9\u58d3\u529b\u6240\u8feb\uff0c\u5247\u9700\u8b39\u614e\u770b\u5f85\u3002<\/p><p>\u63db\u8a00\u4e4b\uff0c\u6298\u50f9\u767c\u884c\u4e26\u975e\u55ae\u7d14\u7684\u5229\u591a\u6216\u5229\u7a7a\uff0c\u800c\u662f\u4e00\u5834\u5e02\u5834\u4fe1\u5fc3\u8207\u57fa\u672c\u9762\u50f9\u503c\u7684\u518d\u5e73\u8861\u3002\u80fd\u5426\u8fa8\u8b58\u5176\u4e2d\u7684\u771f\u5be6\u52d5\u6a5f\uff0c\u5f80\u5f80\u662f\u5c08\u696d\u6295\u8cc7\u8005\u80fd\u5426\u638c\u63e1\u9032\u5834\u826f\u6a5f\u7684\u95dc\u9375\u3002<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9762\u5411<\/th><th>\u512a\u9ede\uff08\u6f5b\u5728\u6b63\u9762\u6548\u76ca\uff09<\/th><th>\u7f3a\u9ede\uff08\u6f5b\u5728\u98a8\u96aa\u8207\u8ca0\u9762\u5f71\u97ff\uff09<\/th><\/tr><\/thead><tbody><tr><td><strong>\u516c\u53f8\u7aef<\/strong><\/td><td>\u30fb\u80fd\u5feb\u901f\u7c4c\u96c6\u8cc7\u91d1\uff0c\u88dc\u5145\u71df\u904b\u6216\u64f4\u5f35\u6240\u9700\u73fe\u91d1\u6d41\u3002\u30fb\u4ee5\u6298\u6263\u5438\u5f15\u5e02\u5834\u8cc7\u91d1\uff0c\u63d0\u5347\u65b0\u80a1\u8a8d\u8cfc\u7387\u8207\u5e02\u5834\u6d41\u52d5\u6027\u3002\u30fb\u6709\u52a9\u65bc\u62d3\u5c55\u65b0\u696d\u52d9\u3001\u6295\u8cc7\u65b0\u6280\u8853\u6216\u511f\u9084\u50b5\u52d9\uff0c\u6539\u5584\u8ca1\u52d9\u7d50\u69cb\u3002<\/td><td>\u30fb\u80a1\u672c\u589e\u52a0\u5c0e\u81f4\u6bcf\u80a1\u76c8\u9918\uff08EPS\uff09\u88ab\u7a00\u91cb\u3002\u30fb\u5e02\u5834\u53ef\u80fd\u89e3\u8b80\u70ba\u516c\u53f8\u8cc7\u91d1\u5403\u7dca\u6216\u7d93\u71df\u58d3\u529b\u5927\uff0c\u5f71\u97ff\u6295\u8cc7\u4fe1\u5fc3\u3002\u30fb\u82e5\u672a\u80fd\u6709\u6548\u904b\u7528\u52df\u96c6\u8cc7\u91d1\uff0c\u53ef\u80fd\u9020\u6210\u80a1\u50f9\u4e0b\u8dcc\u6216\u4fe1\u4efb\u53d7\u640d\u3002<\/td><\/tr><tr><td><strong>\u6295\u8cc7\u4eba\uff08\u65b0\u9032\u6295\u8cc7\u8005\uff09<\/strong><\/td><td>\u30fb\u53ef\u7528\u8f03\u4f4e\u6210\u672c\u9032\u5834\uff0c\u4eab\u6709\u6f5b\u5728\u7684\u50f9\u5dee\u6536\u76ca\u3002\u30fb\u82e5\u516c\u53f8\u57fa\u672c\u9762\u826f\u597d\uff0c\u6298\u50f9\u767c\u884c\u53ef\u8996\u70ba\u300c\u4f4e\u4f30\u8cb7\u9ede\u300d\u3002<\/td><td>\u30fb\u82e5\u516c\u53f8\u57fa\u672c\u9762\u4e0d\u4f73\uff0c\u6298\u50f9\u53ef\u80fd\u53ea\u662f\u66ab\u6642\u8a98\u56e0\uff0c\u5f8c\u7e8c\u80a1\u50f9\u96e3\u4ee5\u652f\u6490\u3002\u30fb\u53ef\u80fd\u9762\u81e8\u5e02\u5834\u77ed\u671f\u6ce2\u52d5\u8207\u5957\u7262\u98a8\u96aa\u3002<\/td><\/tr><tr><td><strong>\u6295\u8cc7\u4eba\uff08\u539f\u80a1\u6771\uff09<\/strong><\/td><td>\u30fb\u82e5\u5e02\u5834\u53cd\u61c9\u6b63\u9762\uff0c\u80a1\u50f9\u6709\u6a5f\u6703\u56e0\u4ea4\u6613\u6d3b\u7d61\u800c\u56de\u5347\u3002\u30fb\u53ef\u8d81\u63db\u624b\u6642\u6a5f\u91cd\u65b0\u8abf\u6574\u6301\u80a1\u914d\u7f6e\u3002<\/td><td>\u30fb\u6301\u80a1\u88ab\u7a00\u91cb\u3001\u6b0a\u76ca\u6e1b\u5c11\u3002\u30fb\u5fc3\u7406\u5c64\u9762\u7522\u751f\u4e0d\u516c\u5e73\u611f\uff08\u65b0\u80a1\u6298\u50f9\u53d6\u5f97\uff09\u3002\u30fb\u82e5\u5e02\u5834\u89e3\u8b80\u70ba\u5229\u7a7a\uff0c\u80a1\u50f9\u77ed\u671f\u6613\u53d7\u58d3\u3002<\/td><\/tr><\/tbody><\/table><\/figure><h2 class=\"wp-block-heading has-text-color\" style=\"color:#0693e3\"><strong>\u6298\u50f9\u767c\u884c 07. \u80a1\u7968\u767c\u884c\u7a2e\u985e\u6709\u5206\u54ea\u4e9b ?<\/strong><\/h2><p>\u5728\u4f01\u696d\u7c4c\u8cc7\u7b56\u7565\u4e2d\uff0c\u80a1\u7968\u767c\u884c\u50f9\u683c\u7684\u8a2d\u5b9a\u65b9\u5f0f\u81f3\u95dc\u91cd\u8981\u3002\u9664\u4e86\u5e38\u898b\u7684\u300c\u6298\u50f9\u767c\u884c\u300d\uff08Discounted Issue\uff09\u4e4b\u5916\uff0c\u516c\u53f8\u9084\u53ef\u4f9d\u64da\u81ea\u8eab\u8ca1\u52d9\u72c0\u6cc1\u8207\u5e02\u5834\u8a55\u4f30\uff0c\u63a1\u53d6\u300c\u6ea2\u50f9\u767c\u884c\u300d\u6216\u300c\u5e73\u50f9\u767c\u884c\u300d\u5169\u7a2e\u65b9\u5f0f\u3002\u4ee5\u4e0b\u70ba\u4e09\u8005\u7684\u5dee\u7570\u8aaa\u660e\uff1a<\/p><h4 class=\"wp-block-heading\"><strong>07-1. \u6ea2\u50f9\u767c\u884c\uff08At a Premium\uff09<\/strong><\/h4><p>\u6240\u8b02\u6ea2\u50f9\u767c\u884c\uff0c\u662f\u6307\u516c\u53f8\u4ee5\u9ad8\u65bc\u80a1\u7968\u9762\u984d\u7684\u50f9\u683c\u767c\u884c\u65b0\u80a1\uff0c\u53cd\u6620\u5e02\u5834\u5c0d\u8a72\u516c\u53f8\u672a\u4f86\u6210\u9577\u6027\u7684\u4fe1\u5fc3\u3002<br>\u6ea2\u50f9\u767c\u884c\u53c8\u53ef\u7d30\u5206\u70ba\uff1a<\/p><ul class=\"wp-block-list\"><li><strong>\u5e02\u50f9\u767c\u884c\uff08\u6216\u7a31\u6642\u50f9\u767c\u884c\uff09<\/strong>\uff1a\u4ee5\u63a5\u8fd1\u6216\u9ad8\u65bc\u7576\u524d\u5e02\u5834\u50f9\u683c\u7684\u6c34\u6e96\u767c\u884c\u65b0\u80a1\u3002<\/li>\n\n<li><strong>\u4e2d\u9593\u50f9\u767c\u884c<\/strong>\uff1a\u5728\u9762\u984d\u8207\u5e02\u50f9\u4e4b\u9593\uff0c\u9078\u64c7\u4e00\u500b\u7565\u9ad8\u65bc\u9762\u984d\u3001\u4f4e\u65bc\u5e02\u50f9\u7684\u767c\u884c\u50f9\u3002<\/li><\/ul><p>\u901a\u5e38\u80fd\u5920\u9032\u884c\u6ea2\u50f9\u767c\u884c\u7684\u516c\u53f8\uff0c\u5fc5\u9808\u64c1\u6709\u826f\u597d\u7684\u7372\u5229\u80fd\u529b\u3001\u7a69\u5b9a\u7684\u5e02\u5834\u4fe1\u8b7d\u8207\u6295\u8cc7\u4eba\u4fe1\u5fc3\u3002\u82e5\u4f01\u696d\u57fa\u672c\u9762\u4e0d\u8db3\u6216\u5e02\u5834\u4eba\u6c23\u4f4e\u8ff7\uff0c\u63a1\u7528\u6ea2\u50f9\u767c\u884c\u53cd\u800c\u53ef\u80fd\u5c0e\u81f4\u8a8d\u8cfc\u4e0d\u9806\u3002<\/p><h4 class=\"wp-block-heading\"><strong>07-2. \u5e73\u50f9\u767c\u884c\uff08At Par\uff09<\/strong><\/h4><p>\u5e73\u50f9\u767c\u884c\u6307\u516c\u53f8\u4ee5\u7b49\u540c\u65bc\u80a1\u7968\u9762\u984d\u7684\u50f9\u683c\u767c\u884c\u65b0\u80a1\uff0c\u65e2\u4e0d\u6298\u50f9\u4e5f\u4e0d\u6ea2\u50f9\u3002<br>\u9019\u7a2e\u767c\u884c\u65b9\u5f0f\u901a\u5e38\u5e36\u6709\u8f03\u4e2d\u6027\u7684\u6027\u8cea\uff0c\u516c\u53f8\u4e26\u975e\u6025\u9700\u8cc7\u91d1\uff0c\u800c\u662f\u5e0c\u671b\u5728\u5e02\u5834\u5141\u8a31\u7684\u7bc4\u570d\u5167\u9032\u884c\u9069\u5ea6\u7c4c\u8cc7\u3002<br>\u63a1\u53d6\u5e73\u50f9\u767c\u884c\u7684\u4f01\u696d\u591a\u534a\u62b1\u6301\u89c0\u671b\u614b\u5ea6\uff0c\u65e2\u7dad\u6301\u8cc7\u672c\u5e02\u5834\u66dd\u5149\u5ea6\uff0c\u53c8\u907f\u514d\u5c0d\u5e02\u5834\u50f9\u683c\u9020\u6210\u660e\u986f\u5e72\u64fe\u3002<\/p><h4 class=\"wp-block-heading\"><strong>07-3. \u6298\u50f9\u767c\u884c\uff08At a Discount\uff09<\/strong><\/h4><p>\u6298\u50f9\u767c\u884c\u5247\u662f\u4ee5\u4f4e\u65bc\u9762\u984d\u6216\u5e02\u5834\u50f9\u7684\u50f9\u683c\u767c\u884c\u65b0\u80a1\uff0c\u85c9\u6b64\u63d0\u9ad8\u6295\u8cc7\u4eba\u8a8d\u8cfc\u610f\u9858\uff0c\u52a0\u901f\u8cc7\u91d1\u5230\u4f4d\u3002<br>\u5e38\u898b\u65bc\u516c\u53f8\u6709\u5f37\u70c8\u7684\u8cc7\u91d1\u9700\u6c42\uff0c\u5982\u64f4\u7522\u3001\u6295\u8cc7\u65b0\u6280\u8853\u3001\u511f\u9084\u50b5\u52d9\u6216\u6539\u5584\u6d41\u52d5\u6027\u7b49\u60c5\u5883\u3002<\/p><h3 class=\"wp-block-heading\">\u767c\u884c\u5f62\u5f0f\u6bd4\u8f03\u8868<\/h3><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u767c\u884c\u65b9\u5f0f<\/th><th>\u767c\u884c\u50f9\u683c\u6c34\u6e96<\/th><th>\u516c\u53f8\u7279\u5fb5\u8207\u52d5\u6a5f<\/th><th>\u6295\u8cc7\u4eba\u89c0\u611f<\/th><th>\u5e02\u5834\u53cd\u61c9<\/th><\/tr><\/thead><tbody><tr><td><strong>\u6ea2\u50f9\u767c\u884c<\/strong><\/td><td>\u9ad8\u65bc\u9762\u984d\uff08\u53ef\u80fd\u9ad8\u65bc\u5e02\u50f9\uff09<\/td><td>\u516c\u53f8\u4fe1\u8b7d\u9ad8\u3001\u57fa\u672c\u9762\u5f37\u3001\u7c4c\u8cc7\u4ee5\u64f4\u5f35\u70ba\u4e3b<\/td><td>\u7a4d\u6975\u6b63\u9762\uff0c\u4ee3\u8868\u516c\u53f8\u524d\u666f\u88ab\u770b\u597d<\/td><td>\u82e5\u5e02\u5834\u4fe1\u5fc3\u9ad8\uff0c\u53cd\u61c9\u71b1\u7d61\uff1b\u5426\u5247\u8a8d\u8cfc\u7387\u4f4e<\/td><\/tr><tr><td><strong>\u5e73\u50f9\u767c\u884c<\/strong><\/td><td>\u7b49\u540c\u9762\u984d<\/td><td>\u8cc7\u91d1\u9700\u6c42\u4e2d\u6027\u3001\u7b56\u7565\u6027\u89c0\u671b<\/td><td>\u4e2d\u6027\uff0c\u8996\u5e02\u5834\u6574\u9ad4\u6c23\u6c1b\u800c\u5b9a<\/td><td>\u5f71\u97ff\u6709\u9650\uff0c\u5c6c\u7a69\u5065\u64cd\u4f5c<\/td><\/tr><tr><td><strong>\u6298\u50f9\u767c\u884c<\/strong><\/td><td>\u4f4e\u65bc\u9762\u984d\u6216\u5e02\u50f9<\/td><td>\u6025\u9700\u8cc7\u91d1\u6216\u5e02\u5834\u4f4e\u8ff7\u671f\u7c4c\u8cc7<\/td><td>\u5169\u6975\u5206\u5316\uff1a\u6709\u4eba\u8996\u70ba\u4f4e\u50f9\u6a5f\u6703\uff0c\u6709\u4eba\u8a8d\u70ba\u662f\u8b66\u8a0a<\/td><td>\u77ed\u671f\u53ef\u80fd\u9020\u6210\u80a1\u50f9\u6ce2\u52d5\u6216\u7a00\u91cb\u58d3\u529b<\/td><\/tr><\/tbody><\/table><\/figure><p><\/p><h2 class=\"wp-block-heading has-text-color\" style=\"color:#0693e3\"><strong>\u6298\u50f9\u767c\u884c 08. \u6298\u50f9\u767c\u884c\u516c\u53f8\u6cd5\u7684\u898f\u5b9a<\/strong><\/h2><p>\u5728\u591a\u6578\u570b\u5bb6\u6216\u5730\u5340\u7684\u516c\u53f8\u6cd5\u8207\u8b49\u5238\u6cd5\u898f\u4e2d\uff0c<strong>\u516c\u53f8\u4e0d\u5f97\u4ee5\u4f4e\u65bc\u80a1\u7968\u9762\u984d\u7684\u50f9\u683c\u767c\u884c\u65b0\u80a1<\/strong>\u3002\u9019\u662f\u70ba\u4e86\u7dad\u8b77\u516c\u53f8\u8cc7\u672c\u984d\u7684\u7a69\u5b9a\u6027\uff0c\u907f\u514d\u51fa\u73fe\u300c\u540d\u7fa9\u8cc7\u672c\u4e0d\u8db3\u4ee5\u652f\u6490\u5be6\u969b\u767c\u884c\u50f9\u683c\u300d\u7684\u60c5\u5f62\u3002\u56e0\u6b64\uff0c<strong>\u6298\u50f9\u767c\u884c\u5728\u8a31\u591a\u53f8\u6cd5\u7ba1\u8f44\u5340\u88ab\u8996\u70ba\u4e0d\u5408\u6cd5\u884c\u70ba<\/strong>\u3002<\/p><p>\u53f0\u7063\u73fe\u884c\u5236\u5ea6\u4ea6\u540c\u6a23\u7981\u6b62\u516c\u53f8\u4ee5\u4f4e\u65bc\u9762\u984d\u7684\u50f9\u683c\u767c\u884c\u80a1\u7968\u3002\u4e0d\u904e\uff0c\u96a8\u8457\u5e02\u5834\u767c\u5c55\u8207\u570b\u969b\u5236\u5ea6\u63a5\u8ecc\uff0c<strong>\u516c\u53f8\u6cd5\u65bc 107 \u5e74 7 \u6708 6 \u65e5\u4fee\u6b63\u5f8c\uff0c\u5f15\u5165\u4e86\u300c\u7121\u9762\u984d\u80a1\u5236\u5ea6\u300d<\/strong>\uff08No-Par Value Shares\uff09\u3002<\/p><p>\u5728\u7121\u9762\u984d\u80a1\u5236\u5ea6\u4e0b\uff0c\u80a1\u7968\u4e0d\u518d\u5177\u5099\u56fa\u5b9a\u9762\u984d\uff0c\u56e0\u6b64\u5176\u767c\u884c\u50f9\u683c\u4e5f\u4e0d\u53d7\u9762\u984d\u7d04\u675f\u3002\u516c\u53f8\u767c\u884c\u80a1\u7968\u6240\u5f97\u7684\u5168\u90e8\u91d1\u984d\uff0c\u6703\u76f4\u63a5\u8f49\u5165\u8cc7\u672c\u9805\u4e0b\uff0c\u5f62\u6210\u300c\u5168\u90e8\u70ba\u5be6\u6536\u8cc7\u672c\u300d\u7684\u6703\u8a08\u8655\u7406\u3002<\/p><p>\u9019\u6a23\u7684\u5236\u5ea6\u8a2d\u8a08\uff0c\u4f7f\u5f97\u4f01\u696d\u5728\u7c4c\u8cc7\u6642\u5177\u6709\u66f4\u5927\u7684\u5f48\u6027\u3002\u7531\u65bc\u4e0d\u518d\u5b58\u5728\u300c\u9762\u984d\u300d\u9019\u4e00\u57fa\u6e96\uff0c<strong>\u767c\u884c\u50f9\u683c\u7684\u9ad8\u4f4e\u5b8c\u5168\u53d6\u6c7a\u65bc\u5e02\u5834\u8a8d\u77e5\u8207\u516c\u53f8\u8a55\u50f9<\/strong>\u3002\u67d0\u7a2e\u7a0b\u5ea6\u4e0a\uff0c\u9019\u7b49\u540c\u65bc\u8b93\u516c\u53f8\u80fd\u4ee5\u300c\u63a5\u8fd1\u6298\u50f9\u767c\u884c\u300d\u7684\u65b9\u5f0f\u7c4c\u96c6\u8cc7\u91d1\uff0c\u4f46\u4e0d\u9055\u53cd\u6cd5\u5f8b\u898f\u7bc4\u3002<\/p><p>\u63db\u8a00\u4e4b\uff0c<strong>\u7121\u9762\u984d\u80a1\u5236\u5ea6\u5be6\u969b\u4e0a\u53d6\u4ee3\u4e86\u50b3\u7d71\u6298\u50f9\u767c\u884c\u7684\u529f\u80fd<\/strong>\uff0c\u8b93\u4f01\u696d\u80fd\u4ee5\u66f4\u5e02\u5834\u5c0e\u5411\u7684\u65b9\u5f0f\u9032\u884c\u8cc7\u672c\u52df\u96c6\uff0c\u540c\u6642\u517c\u9867\u6cd5\u4ee4\u5408\u898f\u8207\u8cc7\u672c\u5f48\u6027\u3002<\/p><h2 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color\"><strong><strong><strong>\u6298\u50f9\u767c\u884c<\/strong><\/strong>\u00a007.\u00a0WINSMART\u6709\u54ea\u4e9b\u529f\u80fd\uff1f<\/strong><\/h2><p>\u5728\u4ea4\u6613\u4e16\u754c\u88e1\uff0c\u6700\u5927\u7684\u6575\u4eba\u5f80\u5f80\u4e0d\u662f\u5e02\u5834\uff0c\u800c\u662f\u300c\u4eba\u6027\u300d\u3002<br>\u591a\u6578\u6295\u8cc7\u4eba\u8667\u640d\u7684\u6839\u672c\u539f\u56e0\uff0c\u4e0d\u662f\u770b\u932f\u65b9\u5411\uff0c\u800c\u662f<strong>\u51f9\u55ae\u51f9\u592a\u4e45\u3001\u505c\u640d\u505c\u4e0d\u4e0b\u624b<\/strong>\u3002<br>\u660e\u660e\u65e9\u8a72\u51fa\u5834\uff0c\u537b\u5fc3\u5b58\u50e5\u5016\u60f3\u51f9\u56de\u4f86\uff0c\u7d50\u679c\u8d8a\u51f9\u8d8a\u6df1\uff0c\u6700\u7d42\u6158\u8ce0\u51fa\u5834\u3002<\/p><p>\u800c WINSMART \u7684\u51fa\u73fe\uff0c\u5c31\u662f\u8981\u89e3\u6c7a\u9019\u500b\u554f\u984c\u3002<br>\u9019\u5957\u7cfb\u7d71\u80fd<strong>\u81ea\u52d5\u57f7\u884c\u505c\u640d\u8207\u505c\u5229<\/strong>\uff0c\u6295\u8cc7\u4eba\u53ea\u8981\u8a2d\u5b9a\u597d\u689d\u4ef6\u8207\u53c3\u6578\uff0c\u7a0b\u5f0f\u4fbf\u6703\u56b4\u683c\u4f9d\u7167\u7b56\u7565\u57f7\u884c\uff0c<br>\u5728\u95dc\u9375\u6642\u523b\u679c\u65b7\u51fa\u5834\u3001\u6beb\u4e0d\u7336\u8c6b\uff0c<strong>\u5fb9\u5e95\u6d88\u9664\u60c5\u7dd2\u5316\u64cd\u4f5c\u7684\u98a8\u96aa\u3002<\/strong><\/p><p>\u66f4\u8070\u660e\u7684\u662f\uff0cWINSMART \u5167\u5efa<strong>\u98a8\u96aa\u63a7\u7ba1\u8207\u4e0b\u55ae\u9650\u5236\u6a5f\u5236<\/strong>\uff0c<br>\u7576\u5e33\u6236\u8667\u640d\u9054\u5230\u8a2d\u5b9a\u7bc4\u570d\u6642\uff0c\u7cfb\u7d71\u6703\u81ea\u52d5\u9396\u55ae\uff0c\u4e0d\u5141\u8a31\u518d\u4e0b\u932f\u8aa4\u7684\u52a0\u78bc\u55ae\u3002<br>\u9019\u5c31\u50cf\u5e6b\u4f60\u591a\u8a2d\u4e00\u9053\u300c\u7406\u6027\u9632\u7dda\u300d\uff0c\u8b93\u7206\u5009\u3001\u91cd\u50b7\u7684\u6a5f\u7387\u5927\u5e45\u964d\u4f4e\u3002<\/p><p>\u800c\u5728\u7372\u5229\u7aef\uff0cWINSMART \u7684**\u79fb\u52d5\u505c\u5229\u529f\u80fd\uff08Trailing Stop\uff09**\u53ef\u4ee5\u8b93\u4f60\u300c\u62b1\u5f97\u4f4f\u5927\u6ce2\u6bb5\u300d\u3002<br>\u7a0b\u5f0f\u6703\u6839\u64da\u4f60\u7684\u98a8\u96aa\u504f\u597d\u8207\u7372\u5229\u767e\u5206\u6bd4\uff0c\u81ea\u52d5\u8abf\u6574\u505c\u5229\u689d\u4ef6\uff0c<br>\u4e0d\u6703\u56e0\u70ba\u77ed\u7dda\u9707\u76ea\u5c31\u63d0\u524d\u51fa\u5834\uff0c\u4e5f\u4e0d\u6703\u8b93\u539f\u672c\u7684\u7372\u5229\u5316\u70ba\u70cf\u6709\u3002<\/p><p>\u6709\u4e86 WINSMART\uff0c\u4f60\u4e0d\u9700\u8981\u76ef\u76e4\u3001\u4e0d\u53d7\u60c5\u7dd2\u5e72\u64fe\uff0c<br>\u53ea\u8981\u7db2\u8def\u7a69\u5b9a\uff0c\u96fb\u8166\u958b\u8457\uff0c\u7cfb\u7d71\u5c31\u80fd\u5e6b\u4f60\u505a\u5230\u2014\u2014<br><strong>\u7528\u5c0f\u98a8\u96aa\uff0c\u63db\u53d6\u5927\u5831\u916c\uff1b\u7528\u7d00\u5f8b\uff0c\u53d6\u4ee3\u4eba\u6027\u3002<\/strong><\/p><p>\ud83d\udc49<strong>\u7acb\u5373\u5831\u540d >>\u00a0<a href=\"https:\/\/winsmart.tw\/en\/%E8%BF%91%E6%9C%9F%E6%B4%BB%E5%8B%95\/\" target=\"_blank\" rel=\"noreferrer noopener\">WINSMART\u7dda\u4e0a\u5206\u4eab\u6703<\/a><\/strong><\/p><figure class=\"wp-block-image alignwide\"><a href=\"https:\/\/winsmart.tw\/en\/%E8%BF%91%E6%9C%9F%E6%B4%BB%E5%8B%95\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/options.tw\/wp-content\/uploads\/2022\/03\/WINSMAR%E8%81%B0%E6%98%8E%E8%B4%8F%E6%9C%9F%E8%B2%A8%E8%BB%9F%E9%AB%94-%E9%83%A8%E8%90%BD%E6%A0%BC%E5%BB%A3%E5%91%8A.jpg\" alt=\"WINSMAR\u8070\u660e\u8d0f\u671f\u8ca8\u8edf\u9ad4-\u90e8\u843d\u683c\u5ee3\u544a\" class=\"wp-image-7105\"\/><\/a><\/figure><h2 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color\"><strong><strong><strong><strong><strong>\u6298\u50f9\u767c\u884c<\/strong><\/strong><\/strong><\/strong>\u00a008. \u5e38\u898b\u554f\u984cQ&amp;A<\/strong><\/h2><p>Q1\uff1a\u6298\u50f9\u767c\u884c\u662f\u4ec0\u9ebc\u610f\u601d\uff1f<\/p><p>A1\uff1a\u6298\u50f9\u767c\u884c\u662f\u6307\u516c\u53f8\u4ee5<strong>\u4f4e\u65bc\u80a1\u7968\u9762\u984d\u6216\u5e02\u5834\u50f9\u683c<\/strong>\u7684\u50f9\u683c\u767c\u884c\u65b0\u80a1\uff0c\u7528\u8f03\u4fbf\u5b9c\u7684\u50f9\u683c\u5438\u5f15\u6295\u8cc7\u4eba\u8a8d\u8cfc\uff0c\u9054\u5230<strong>\u5feb\u901f\u7c4c\u63aa\u8cc7\u91d1<\/strong>\u7684\u76ee\u7684\u3002<\/p><p>Q2\uff1aWINSMART\u53ef\u4ee5\u642d\u914d\u54ea\u5e7e\u5bb6\u5238\u5546\u5462\uff1f<\/p><p>A2\uff1aWINSMART\u9664\u4e86\u671f\u8ca8\u3001\u9084\u53ef\u4ee5\u4ea4\u6613\u80a1\u7968\u3001\u9078\u64c7\u6b0a\u3001\u80a1\u7968\u671f\u8ca8\u53ca\u6d77\u5916\u671f\u8ca8\u7b49\u5546\u54c1\uff0c\u76ee\u524d\u6709\u642d\u914d<a href=\"https:\/\/www.capitalfutures.com.tw\/\" target=\"_blank\" rel=\"noreferrer noopener\">Capital Futures<\/a>\u3001<a href=\"https:\/\/www.yuantafutures.com.tw\/\" target=\"_blank\" rel=\"noreferrer noopener\">Yuanta Futures<\/a>\u3001<a href=\"https:\/\/www.kgif.com.tw\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u51f1\u57fa\u671f\u8ca8<\/a>\u3001<a href=\"https:\/\/ft.entrust.com.tw\/index.do\" target=\"_blank\" rel=\"noreferrer noopener\">Hua Nan Futures<\/a>\u3001<a href=\"https:\/\/www.pfcf.com.tw\/\" target=\"_blank\" rel=\"noreferrer noopener\">President Futures<\/a>\u3001<a href=\"https:\/\/www.concordfutures.com.tw\/\" target=\"_blank\" rel=\"noreferrer noopener\">Concord Futures<\/a>\u7b49\u5238\u5546\u4e0b\u55ae\u3002<\/p><p><strong>\u5ef6\u4f38\u95b1\u8b80\uff1a<a href=\"https:\/\/winsmart.tw\/en\/online_teaching\/%e5%9d%87%e7%b7%9a\/\">\u7528\u5747\u7dda\u63a7\u76e4\uff0c3\u6b65\u9a5f\u5e36\u60a8\u5275\u9020\u5de8\u5927\u7372\u5229\uff01<\/a><\/strong><\/p><p><strong>\u5ef6\u4f38\u95b1\u8b80\uff1a<a href=\"https:\/\/winsmart.tw\/en\/online_teaching\/%e7%95%b6%e6%97%a5%e6%b2%96%e9%8a%b7%e6%84%8f%e6%80%9d\/\">\u7576\u65e5\u6c96\u92b7\u610f\u601d\uff1f4\u6b65\u9a5f\u6559\u4f60\u7576\u6c96\u4e0d\u76ef\u76e4\uff0c\u8070\u660e\u4ea4\u6613\u4e0d\u8cbb\u529b\uff01<\/a><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>\u6298\u50f9\u767c\u884c 01. \u6298\u50f9\u767c\u884c\u662f\u4ec0\u9ebc\uff1f \u6240\u8b02\u300c\u6298\u50f9\u767c\u884c\u300d\uff08Discounted Issue\uff09\uff0c\u6307\u7684\u662f\u4f01\u696d\u5728\u767c\u884c\u65b0\u80a1 &#8230; <a title=\"\u6298\u50f9\u767c\u884c\u662f\u8cfa\u9084\u662f\u8667\uff1f\u6559\u4f60\u770b\u61c2\u516c\u53f8\u70ba\u4ec0\u9ebc\u8981\u4f4e\u50f9\u767c\u80a1\u7968\uff01\" class=\"read-more\" href=\"https:\/\/winsmart.tw\/en\/trading_knowledge\/%e6%8a%98%e5%83%b9%e7%99%bc%e8%a1%8c\/\" aria-label=\"More on \u6298\u50f9\u767c\u884c\u662f\u8cfa\u9084\u662f\u8667\uff1f\u6559\u4f60\u770b\u61c2\u516c\u53f8\u70ba\u4ec0\u9ebc\u8981\u4f4e\u50f9\u767c\u80a1\u7968\uff01\">Read more<\/a><\/p>","protected":false},"author":152,"featured_media":25201,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[17,144],"tags":[379],"class_list":["post-19485","trading_knowledge","type-trading_knowledge","status-publish","has-post-thumbnail","hentry","category-k1-all","category-k3","tag-379"],"acf":[],"_links":{"self":[{"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/trading_knowledge\/19485"}],"collection":[{"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/trading_knowledge"}],"about":[{"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/types\/trading_knowledge"}],"author":[{"embeddable":true,"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/users\/152"}],"replies":[{"embeddable":true,"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/comments?post=19485"}],"version-history":[{"count":3,"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/trading_knowledge\/19485\/revisions"}],"predecessor-version":[{"id":25203,"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/trading_knowledge\/19485\/revisions\/25203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/media\/25201"}],"wp:attachment":[{"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/media?parent=19485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/categories?post=19485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/winsmart.tw\/en\/wp-json\/wp\/v2\/tags?post=19485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}