( ZZZ SKLOLSV FRP ZHOFRPH 9, 6ә WD\ Vӱ GөQJ 'ӏFK Yө FKăP VyF NKiFK KjQJ Yj EҧR KjQK .
0өF OөF /ѭX ê TXDQ WUӑQJ /ѭX ê DQ WRjQ Yj EҧR GѭӥQJ 0{ Wҧ ELӇX WѭӧQJ 9ӭW Eӓ VҧQ SKҭP Yj YұW OLӋX ÿyQJ JyL &jL ÿһW PjQ KuQK /ҳS ÿһW 6ӱ GөQJ PjQ KuQK *LӟL WKLӋX YӅ 0+/ /LrQ .
/ѭX ê TXDQ WUӑQJ /ѭX ê TXDQ WUӑQJ ĈҧP EҧR ÿһW PjQ KuQK ӣ JҫQ QѫL Fy SKtFK FҳP Yj ә FҳP ÿLӋQ 6ә WD\ Vӱ GөQJ ÿLӋQ Wӱ Qj\ GjQK FKR PӑL QJѭӡL GQJ Vӱ GөQJ PjQ KuQK 3KLOLSV +m\ GjQK WKӡL JLDQ ÿӑF Vә WD\ Vӱ GөQJ Qj\ WUѭӟF NKL Vӱ GөQJ PjQ KuQK 6ә WD\ EDR JӗP QKӳQJ WK{QJ WLQ Yj FiF OѭX ê TXDQ WUӑQJ OLrQ TXDQ ÿӃQ YLӋF Vӱ GөQJ PjQ KuQK 1ӃX WҳW PjQ KuQK EҵQJ FiFK U~W FiS QJXӗQ KRһF Gk\ ÿLӋQ '& Km\ ÿӧL JLk\ WUѭӟF NKL FҳP FiS QJXӗQ KRһF Gk\ ÿLӋQ '& ÿӇ PjQ KuQK KRҥW ÿӝQJ EuQK WKѭӡQJ
/ѭX ê TXDQ WUӑQJ 1ӃX FҫQ PӑL WjL OLӋX KѭӟQJ GүQ ÿӇ VӱD FKӳD KRһF WtFK KӧS PjQ KuQK Km\ OLrQ KӋ YӟL WUXQJ WkP GӏFK Yө WҥL ÿӏD SKѭѫQJ EҥQ YXL OzQJ WKDP NKҧR FKѭѫQJ 7UXQJ WkP WK{QJ WLQ WLrX GQJ 1ӃX FKҩW Oҥ KRһF QѭӟF GtQK YjR PjQ KuQK Km\ QJҳW ÿLӋQ QJD\ Yj U~W FiS QJXӗQ 6DX ÿy ODX VҥFK FKҩW Oҥ KRһF QѭӟF UӗL JӱL PjQ KuQK ÿӃQ WUXQJ WkP EҧR GѭӥQJ .K{QJ FҩW JLӳ KRһF Vӱ GөQJ PjQ KuQK ӣ QѫL Fy QJXӗQ QKLӋW iQK QҳQJ WUӵF WLӃS KRһF TXi OҥQK ĈӇ ELӃW WK{QJ WLQ YӅ YLӋF YұQ FKX\ӇQ Y
/ѭX ê TXDQ WUӑQJ 0{ Wҧ ELӇX WѭӧQJ &iF PөF SKө VDX ÿk\ P{ Wҧ FiF TX\ ѭӟF YӅ ELӇX WѭӧQJ GQJ WURQJ WjL OLӋX Qj\ *KL FK~ /ѭX ê Yj &ҧQK EiR 7URQJ WRjQ Eӝ Vә WD\ Qj\ FiF ÿRҥQ FKӳ Fy WKӇ ÿL NqP ELӇX WѭӧQJ Yj ÿѭӧF LQ ÿұP KRһF LQ QJKLrQJ &iF ÿRҥQ Qj\ EDR JӗP FiF JKL FK~ OѭX ê KRһF FҧQK EiR &K~QJ ÿѭӧF Vӱ GөQJ QKѭ VDX *KL FK~ %LӇX WѭӧQJ Qj\ FKR ELӃW FiF WK{QJ WLQ TXDQ WUӑQJ Yj FiF Et TX\ӃW JL~S EҥQ WұQ GөQJ WӕW KӋ WKӕQJ Pi\ WtQK /ѭX ê %LӇX WѭӧQJ Qj\ FKR ELӃW FiF WK{QJ WLQ JL~S EҥQ ELӃW Fi
/ѭX ê TXDQ WUӑQJ )URP WKH SODQQLQJ GHVLJQ DQG SURGXFWLRQ VWDJHV 3KLOLSV HPSKDVL]HV WKH LPSRUWDQW RI PDNLQJ SURGXFWV WKDW FDQ HDVLO\ EH UHF\FOHG $W 3KLOLSV HQG RI OLIH PDQDJHPHQW SULPDULO\ HQWDLOV SDUWLFLSDWLRQ LQ QDWLRQDO WDNH EDFN LQLWLDWLYHV DQG UHF\FOLQJ SURJUDPV ZKHQHYHU SRVVLEOH SUHIHUDEO\ LQ FRRSHUDWLRQ ZLWK FRPSHWLWRUV ZKLFK UHF\FOH DOO PDWHULDOV SURGXFWV DQG UHODWHG SDFNDJLQJ PDWHULDO LQ DFFRUGDQFH ZLWK DOO (QYLURQPHQWDO /DZV DQG WDNLQJ EDFN SURJUDP ZLWK WKH FRQWUDFWRU FRPSDQ\
&jL ÿһW PjQ KuQK /ҳS FKkQ ÿӃ &jL ÿһW PjQ KuQK ĈһW PjQ KuQK QҵP VҩS WUrQ EӅ PһW PӅP PӏQ FҭQ WKұQ ÿӇ WUiQK OjP WUҫ\ [ѭӟF KRһF KӓQJ PjQ KuQK /ҳS ÿһW 1ӝL GXQJ JyL KjQJ ( *Lӳ FKkQ ÿӃ PjQ KuQK EҵQJ Fҧ KDL WD\ Yj OҳS FKһW FKkQ ÿӃ YjR WUө ÿӃ *ҳQ QKҽ FKkQ ÿӃ YjR WUө ÿӃ FKR ÿӃQ NKL FKӕW FjL NKӟS FKһW YjR FKkQ ÿӃ 'QJ QJyQ WD\ YһQ FKһW ÿLQK YtW QҵP ӣ SKtD GѭӟL FKkQ ÿӃ Yj VLӃW FKһW FKkQ ÿӃ YjR WUө ÿӃ $GDSWHU $& '& ÿLӋQ [RD\ FKLӅX PӝW FKLӅX 0+/ W\ FKӑQ &iS kP WKDQK
&jL ÿһW PjQ KuQK 0үX ( 4+6' ( /+6% .ӃW QӕL YӟL 3& 0үX ( 46' ( /6% 0+/ +'0, RU +'0, +'0, ĈҫX YjR QJXӗQ ÿLӋQ $& '& ĈҫX YjR 9*$ ĈҫX YjR '9, ' .KyD FKӕQJ WUӝP .HQVLQJWRQ ĈҫX YjR QJXӗQ ÿLӋQ $& '& ĈҫX YjR 9*$ ĈҫX YjR +'0, 7\ FKӑQ ÿҫX YjR +'0, KRһF 0+/ ĈҫX UD kP WKDQK +'0, .KyD FKӕQJ WUӝP .HQVLQJWRQ 0үX ( 4+$' ( 4+.$' ( /+$% .
&jL ÿһW PjQ KuQK 0үX ( 4+$' ( /+$% ( 4+.$' 6ӱ GөQJ PjQ KuQK 0{ Wҧ PһW WUѭӟF FӫD VҧQ SKҭP 0үX ( 46' ( /6% ( 4+6' ( /+6% %Ұ7 Yj 7Ҳ7 QJXӗQ PjQ KuQK 7UX\ QKұS PHQX 26' %Ұ7 Yj 7Ҳ7 QJXӗQ PjQ KuQK 7Uӣ YӅ PӭF 26' WUѭӟF &KӍQK kP OѭӧQJ ORD 7UX\ QKұS PHQX 26' &KӍQK PHQX 26' 7Uӣ YӅ PӭF 26' WUѭӟF ĈәL QJXӗQ YjR WtQ KLӋX ĈәL ÿӏQK GҥQJ KLӇQ WKӏ 6PDUW,PDJH /LWH &y ED FKӃ ÿӝ ÿӇ EҥQ OӵD FKӑQ 6WDQGDUG &KX́Q ,QWHUQHW *DP
&jL ÿһW PjQ KuQK 0{ Wҧ PHQX +LӇQ WKӏ WUrQ PjQ KuQK +ѭӟQJ GүQ Fѫ EҧQ Yj ÿѫQ JLҧQ YӅ FiF Q~W ÿLӅX NKLӇQ +LӇQ WKӏ WUrQ PjQ KuQK 26' Oj Ju" 7URQJ PHQX 26' PLQK KӑD ӣ WUrQ EҥQ Fy WKӇ QKҩQ FiF Q~W ӣ Jӡ PһW WUѭӟF FӫD PjQ KuQK ÿӇ GL FKX\ӇQ FRQ WUӓ Yj QKҩQ Q~W 2. ÿӇ [iF QKұQ OӵD FKӑQ KRһF WKD\ ÿәL +LӇQ WKӏ WUrQ PjQ KuQK 26' Oj PӝW WtQK QăQJ Fy ӣ PӑL PjQ KuQK /&' FӫD 3KLOLSV 1y FKR SKpS QJѭӡL GQJ ÿLӅX FKӍQK KRҥW ÿӝQJ FӫD PjQ KuQK KRһF FKӑQ FiF FKӭF QăQJ FӫD PjQ KuQK WUӵF WLӃS WK{QJ TXD
&jL ÿһW PjQ KuQK 7K{QJ EiR YӅ ÿӝ SKkQ JLҧL 0jQ KuQK Qj\ ÿѭӧF WKLӃW NӃ ÿӇ KRҥW ÿӝQJ WӕL ѭX YӟL ÿӝ SKkQ JLҧL JӕF Oj î # +] .KL ÿѭӧF FKӍQK VDQJ ÿӝ SKkQ JLҧL NKiF PjQ KuQK VӁ KLӇQ WKӏ PӝW WK{QJ EiR 8VH î # +] IRU EHVW UHVXOWV +m\ GQJ ÿӝ SKkQ JLҧL î # +] ÿӇ Fy NӃW TXҧ WӕL ѭX %ҥQ Fy WKӇ WҳW WK{QJ EiR KLӇQ WKӏ ÿӝ SKkQ JLҧL JӕF Wӯ PөF &jL ÿһW WURQJ PHQX 26' +LӇQ WKӏ WUrQ PjQ KuQK 7tQK QăQJ YұW Oê 1JKLrQJ
&jL ÿһW PjQ KuQK *LӟL WKLӋX YӅ 0+/ /LrQ .ӃW Ĉӝ 1pW &DR 'L ĈӝQJ Ĉy Oj Ju" /LrQ .ӃW Ĉӝ 1pW &DR 'L ĈӝQJ 0+/ Oj JLDR GLӋQ kP WKDQK YLGHR GL ÿӝQJ ÿӇ NӃW QӕL WUӵF WLӃS FiF ÿLӋQ WKRҥL GL ÿӝQJ Yj WKLӃW Eӏ GL ÿӝQJ NKiF YӟL PjQ KuQK ÿӝ QpW FDR 0+/ +'0, +'0, 0+/ +'0, 0+/ &iS 0+/ W\ FKӑQ FKR SKpS EҥQ FKӍ FҫQ NӃW QӕL WKLӃW Eӏ GL ÿӝQJ WѭѫQJ WKtFK 0+/ YӟL PjQ KuQK UӝQJ 3KLOLSV 0+/ Qj\ Yj [HP FiF YLGHR +' WUXQJ WKӵF YӟL kP WKDQK Nӻ WKXұW Vӕ KRjQ FKӍQK *Lӡ EҥQ NK{QJ FKӍ WұQ KѭӣQJ FiF JDPH GL ÿ
7ӕL ѭX KyD KuQK ҧQK ӕ 1KҩQ ÿӇ NKӣL ÿӝQJ 6PDUW,PDJH /LWH WUrQ PjQ KuQK 7ӕL ѭX KyD KuQK ҧQK 7LӃS WөF QKҩQ ÿӇ FKX\ӇQ JLӳD 6WDQGDUG &KXҭQ ,QWHUQHW *DPH 6PDUW,PDJH /LWH 0HQX 26' 6PDUW,PDJH /LWH VӁ YүQ KLӇQ WKӏ WUrQ PjQ KuQK WURQJ JLk\ KRһF EҥQ FNJQJ Fy WKӇ QKҩQ 2.
7ӕL ѭX KyD KuQK ҧQK ӕ *DPH 7ăQJ PҥFK WUX\ӅQ ÿӝQJ ÿӇ Fy WKӡL JLDQ ÿiS ӭQJ WӕL ѭX JLҧP FiF Eӡ OӅ JDL JyF FKR FiF ÿӕL WѭӧQJ GL FKX\ӇQ QKDQK WUrQ PjQ KuQK WăQJ ÿӝ WѭѫQJ SKҧQ FKR Eӕ FөF ViQJ Yj WӕL FҩX KuQK Qj\ PDQJ OҥL FKR QJѭӡL FKѫL WUҧL QJKLӋP FKѫL JDPH WӕW QKҩW 3KLOLSV 6PDUW&RQWURO /LWH 3KҫQ PӅP 6PDUW&RQWURO /LWH PӟL FӫD 3KLOOLSV FKR SKpS EҥQ ÿLӅX NKLӇQ PjQ KuQK TXD JLDR GLӋQ ÿӗ KӑD ҧR WLӋQ GөQJ &iF ÿLӅX FKӍQK SKӭF WҥS Oj QKӳQJ Ju WKXӝF YӅ TXi NKӭ Yu SKҫQ PӅP WKkQ WKLӋQ YӟL QJѭӡL
7ӕL ѭX KyD KuQK ҧQK ӕ 6DX Qj\ EҥQ FNJQJ Fy WKӇ YjR PHQX 3OXJ LQ %ә VXQJ ÿӇ EұW WKXұW Vƭ %ҥQ Fy WKӇ FKӍQK FiF W\ FKӑQ NKiF TXD JLDR GLӋQ 6WDQGDUG &KXҭQ Pj NK{QJ FҫQ WKXұW Vƭ .KӣL ÿӝQJ EҵQJ JLDR GLӋQ &KXҭQ 0HQX $GMXVW ĈLӅX FKӍQK 0HQX $GMXVW ĈLӅX FKӍQK FKR SKpS EҥQ FKӍQK %ULJKWQHVV Ĉӝ ViQJ &RQWUDVW Ĉӝ WѭѫQJ SKҧQ )RFXV 7UӑQJ WkP 3RVLWLRQ 9ӏ WUt Yj 5HVROXWLRQ Ĉӝ SKkQ JLҧL %ҥQ Fy WKӇ OjP WKHR FKӍ GүQ Yj WKӵF KLӋQ ÿLӅX FKӍQK /ӋQK +ӫ\ VӁ KӓL QJѭӡL GQJ [HP Kӑ
7ӕL ѭX KyD KuQK ҧQK ӕ 0HQX &RORU 0jX 0HQX &RORU 0jX FKR SKpS EҥQ FKӍQK PjX 5*% Ĉӓ /өF /DP %ODFN /HYHO Ĉӝ WӕL :KLWH 3RLQW ĈLӇP WUҳQJ &RORU &DOLEUDWLRQ +LӋX FKӍQK PjX Yj 6PDUW,PDJH /LWH 9XL OzQJ WKDP NKҧR PөF 6PDUW,PDJH /LWH %ҥQ Fy WKӇ OjP WKHR FKӍ GүQ Yj WKӵF KLӋQ ÿLӅX FKӍQK 7KDP WKҧR EҧQJ ErQ GѭӟL ÿӇ KuQK GXQJ Fѫ EҧQ YӅ PөF PHQX SKө WUrQ WK{QJ WLQ QKұS FӫD EҥQ 9t Gө &RORU &DOLEUDWLRQ +LӋX FKӍQK PjX VҳF
7ӕL ѭX KyD KuQK ҧQK ӕ 1H[W .Ӄ WLӃS VӁ FKX\ӇQ YjR PөF WLrX WLӃS WKHR PөF WLrX &XӕL FQJ YjR JLDR GLӋQ )LOH!3UHVHWV )LOH!&jL VҹQ 1~W &DQFHO +ӫ\ VӁ ÿyQJ JLDR GLӋQ QJѭӡL GQJ 8, Yj WUӣ YӅ WUDQJ Eә VXQJ 6PDUW,PDJH /LWH &KR SKpS QJѭӡL GQJ WKD\ ÿәL FjL ÿһW ÿӇ ÿҥW PӭF FjL ÿһW PjQ KuQK WӕW KѫQ GӵD YjR QӝL GXQJ .
7ӕL ѭX KyD KuQK ҧQK ӕ 7KHR PһF ÿӏQK 5XQ DW 6WDUWXS &Kҥ\ NKL NKӣL ÿӝQJ VӁ ÿѭӧF FKӑQ Oj %Ұ7 .KL ÿm WҳW 6PDUW&RQWURO /LWH VӁ NK{QJ EұW NKL NKӣL ÿӝQJ KRһF QҵP WURQJ NKD\ WiF Yө &iFK GX\ QKҩW ÿӇ EұW 6PDUW&RQWURO /LWH Oj Wӯ SKtP WҳW WUrQ PjQ KuQK QӅQ KRһF Wӯ ILOH FKѭѫQJ WUuQK %ҩW NǤ Eӝ FjL ÿһW VҹQ QjR ÿӇ FKҥ\ NKL NKӣL ÿӝQJ VӁ KRҥW ÿӝQJ NK{QJ WҧL NKL { Qj\ NK{QJ ÿѭӧF FKӑQ Ĉm WҳW (QDEOH WUDQVSDUHQF\ PRGH %ұW FKӃ ÿӝ WURQJ VXӕW :LQGRZV :LQGRZV 0һF ÿӏQK Oj 0ӡ 2SWLRQV!,QSXW
7ӕL ѭX KyD KuQK ҧQK ӕ 2SWLRQV!$XGLR 7\ FKӑQ!ÆP WKDQK 6Ӂ FKӍ KRҥW ÿӝQJ NKL FKӑQ $XGLR ÆP WKDQK Wӯ PHQX 2SWLRQV 7\ FKӑQ Vә [XӕQJ +HOS!9HUVLRQ 7Uӧ JL~S!3KLrQ EҧQ 6Ӂ FKӍ KRҥW ÿӝQJ NKL FKӑQ 9HUVLRQ 3KLrQ EҧQ Wӯ PHQX +HOS 7Uӧ JL~S Vә [XӕQJ 7UrQ PjQ KuQK NK{QJ Kӛ WUӧ WѭѫQJ WKtFK YӟL FKXҭQ ''& &, FKӍ Fy VҹQ FiF WKҿ +HOS 7Uӧ JL~S Yj 2SWLRQV 7\ FKӑQ 7UrQ PjQ KuQK NK{QJ Kӛ WUӧ WѭѫQJ WKtFK YӟL FKXҭQ ''& &, FKӍ Fy VҹQ FiF WKҿ +HOS 7Uӧ JL~S Yj 2SWLRQV 7\ FKӑQ &RQWH[W 6HQVL
7ӕL ѭX KyD KuQK ҧQK ӕ ĈӇ FKҥ\ OҥL 6PDUW&RQWURO /LWH Km\ FKӑQ 6PDUW&RQWURO /LWH Wӯ PHQX 3URJUDP &KѭѫQJ WUuQK FOLFN ÿ{L ELӇX WѭӧQJ 3& WUrQ PjQ KuQK QӅQ KRһF NKӣL ÿӝQJ OҥL KӋ WKӕQJ 6HOHFW 3UHVHW &KӑQ FjL ÿһW VҹQ &XQJ FҩS PHQX FiF PөF FjL VҹQ ÿm OѭX WKHR WUuQK Wӵ ÿӇ Vӱ GөQJ QJD\ 'ҩX NLӇP VӁ KLӇQ WKӏ PөF FjL VҹQ KLӋQ ÿm FKӑQ 0өF )DFWRU\ 3UHVHW &jL VҹQ JӕF FNJQJ Fy WKӇ ÿѭӧF FKӑQ Wӯ PHQX Vә [XӕQJ 7XQH 'LVSOD\ &KӍQK PjQ PuQK 0ӣ EҧQJ ÿLӅX NKLӇQ 6PDUW&RQWURO /LWH 6PDUW,PD
:HEFDP WtFK KӧS VҹQ FQJ YӟL PLFUR 6ӱ GөQJ WKLӃW Eӏ :HEFDP WtFK KӧS VҹQ FQJ YӟL PLFUR 0jQ KuQK 3KLOLSV WtFK KӧS VҹQ WKLӃW Eӏ ZHEFDP VӁ WUX\ӅQ Gӳ OLӋX YLGHR Yj kP WKDQK TXD FәQJ 86% 1y Fy WKӇ ÿѭӧF EұW FKӍ EҵQJ FiFK FҳP FiS 86% Wӯ 3& YjR FәQJ QJѭӧF GzQJ 86% WUrQ ә FҳP 86% ӣ ÿҫX UD YjR ErQ FҥQK PjQ KuQK *KL FK~ .
&iF WK{QJ Vӕ Nӻ WKXұW &iF WK{QJ Vӕ Nӻ WKXұW +uQK ҧQK +LӇQ WKӏ ( 46' ( 4+$' ( 4+.$' ( 4+6' /RҥL PһW PjQ KuQK 0jQ KuQK /&' ,36 ĈqQ QӅQ /(' &ӥ PjQ KuQK 5ӝQJ FP +Ӌ Vӕ FR Ĉӝ SL[HO [ PP Ĉӝ ViQJ FG Pð 6PDUW&RQWUDVW Ĉӝ WѭѫQJ SKҧQ FKXҭQ 7KӡL JLDQ ÿiS ӭQJ FKXҭQ PV PLOL JLk\ 6PDUW5HVSRQVH FKӍ Fy VҹQ PV PLOL JLk\ FKR FiF PүX ÿm FKӑQ Ĉӝ SKkQ JLҧL WӕL ѭX [ # +] *yF [HP + 9 #& 5 ! &ҧL WLӃQ KuQK ҧQK 6PDUW,PDJH /LWH 0
&iF WK{QJ Vӕ Nӻ WKXұW +uQK ҧQK +LӇQ WKӏ ( /6% ( /+$% ( /+6% 6PDUW5HVSRQVH FKӍ Fy VҹQ PV PLOL JLk\ FKR FiF PүX ÿm FKӑQ Ĉӝ SKkQ JLҧL WӕL ѭX [ # +] *yF [HP + 9 #& 5 ! &ҧL WLӃQ KuQK ҧQK 6PDUW,PDJH /LWH 0jX PjQ KuQK WULӋX PjX 7ӕF ÿӝ SKiW GӑF +] +] 7ҫQ Vӕ QJDQJ N+] N+] V5*% Ĉӓ /өF /DP FKXҭQ &Ï .ӃW QӕL ( /6% 9*$ $QDORJ '9, .ӻ WKXұW Vӕ +'&3 ĈҫX YjR WtQ KLӋX ( /+$% ( /+6% 9*$ $QDORJ FәQJ +'0, .
&iF WK{QJ Vӕ Nӻ WKXұW 7ҳW FKXҭQ ĈqQ EiR /(' QJXӗQ %ӝ QJXӗQ 1JXӗQ ÿLӋQ ( 4+.$' &KӃ ÿӝ EұW &KӃ ÿӝ FKӡ FKXҭQ 7ҳW FKXҭQ ĈqQ EiR /(' QJXӗQ %ӝ QJXӗQ : &KӃ ÿӝ EұW &KӃ ÿӝ 7UҳQJ &Kӡ 1Jӫ 7UҳQJ QKҩS QKi\ 1JRҥL YL 9$& +] : FKXҭQ : WӕL ÿD : : &KӃ ÿӝ EұW &KӃ ÿӝ 7UҳQJ &Kӡ 1Jӫ 7UҳQJ QKҩS QKi\ 1JRҥL YL 9$& +] 1JXӗQ ÿLӋQ ( 4+6' &KӃ ÿӝ EұW &KӃ ÿӝ FKӡ FKXҭQ 7ҳW FKXҭQ ĈqQ EiR /(' QJXӗQ %ӝ QJXӗQ : FKXҭQ : : &KӃ ÿӝ EұW &KӃ ÿӝ 7UҳQJ &Kӡ 1Jӫ
&iF WK{QJ Vӕ Nӻ WKXұW 6ҧQ SKҭP ÿyQJ JyL ĈLӅX NLӋQ KRҥW ÿӝQJ 3KҥP YL QKLӋW ÿӝ KRҥW ÿӝQJ *LӟL KҥQ QKLӋW ÿӝ .K{QJ KRҥW ÿӝQJ Ĉӝ ҭP WѭѫQJ ÿӕL 07%) 7KӡL OѭӧQJ WUXQJ EuQK JLӳD FiF Vӵ Fӕ 0{L WUѭӡQJ &KӍ WKӏ 52+6 *LӟL KҥQ FiF FKҩW Jk\ KҥL (3($7 7KQJ ÿӵQJ &iF FKҩW Fө WKӇ 1J{L VDR QăQJ OѭӧQJ 7XkQ WKӫ Yj WLrX FKXҭQ 3Kr FKXҭQ WKHR TX\ ÿӏQK NJ & & & & JLӡ &Ï %ҥF ZZZ HSHDW QHW &y WKӇ WiL FKӃ 7KQJ ÿӵQJ NK{QJ FKӭD 39& %)5 &Ï &( 0DUN )&& &ODVV % *267 6(0.
&iF WK{QJ Vӕ Nӻ WKXұW &KӃ ÿӝ ÿӝ SKkQ JLҧL FjL ÿһW VҹQ Ĉӝ SKkQ JLҧL WӕL ÿD [ # +] ÿҫX YjR DQDORJ [ # +] ÿҫX YjR .76 Ĉӝ SKkQ JLҧL NKX\rQ GQJ [ # +] ÿҫX YjR .
4XҧQ Oê QJXӗQ ÿLӋQ 4XҧQ Oê QJXӗQ ÿLӋQ ĈӏQK QJKƭD TXҧQ Oê QJXӗQ ÿLӋQ 1ӃX EҥQ ÿm FjL ÿһW FDUG PjQ KuQK KD\ SKҫQ PӅP WѭѫQJ WKtFK FKXҭQ 9(6$ '30 YjR 3& PjQ KuQK Fy WKӇ Wӵ ÿӝQJ JLҧP WLrX WKө ÿLӋQ NKL NK{QJ Vӱ GөQJ 1ӃX SKiW KLӋQ QKұS Wӯ EjQ SKtP FKXӝW KD\ WKLӃW Eӏ QKұS NKiF PjQ KuQK VӁ KRҥW ÿӝQJ Wӵ ÿӝQJ %ҧQJ VDX ÿk\ VӁ KLӇQ WKӏ PӭF WLrX WKө ÿLӋQ Yj FiFK WUX\ӅQ WtQ KLӋX FӫD WtQK QăQJ WLӃW NLӋP ÿLӋQ Wӵ ÿӝQJ Qj\ ĈӗQJ ĈӗQJ 1JXӗQ ÿLӋQ Vӱ 0jX ÿqQ 9LGHR Eӝ Eӝ GӑF GөQJ /(' QJDQJ %Ұ7 1Jӫ
7K{QJ WLQ TX\ ÿӏQK 7K{QJ WLQ TX\ ÿӏQK &RGLQJ RI SODVWLFV IRU HDV\ UHF\FOLQJ /LPLW RQ WKH QXPEHU RI GLIIHUHQW SODVWLFV XVHG /HDG IUHH 3URGXFW 3URGXFW /LIHWLPH 3URGXFW 7DNH %DFN 0LQLPXP RQH \HDU SURGXFW ZDUUDQW\ 0LQLPXP WKUHH \HDU DYDLODELOLW\ RI VSDUH SDUWV 3URGXFW WDNHEDFN /HDG IUHH GLVSOD\ SURPRWHV HQYLURQPHQWDOO\ VRXQG UHFRYHU\ DQG GLVSRVDO RI ZDVWH IURP HOHFWULFDO DQG HOHFWURQLF HTXLSPHQW 7R[LF VXEVWDQFHV OLNH /HDG KDV EHHQ HOLPLQDWHG DQG FRPSOLDQFH ZLWK (XURSHDQ FRPPXQLW\ V V
7K{QJ WLQ TX\ ÿӏQK ZZZ HSHDW QHW &( 'HFODUDWLRQ RI &RQIRUPLW\ 7KLV SURGXFW LV LQ FRQIRUPLW\ ZLWK WKH IROORZLQJ VWDQGDUGV 7KH (3($7 (OHFWURQLF 3URGXFW (QYLURQPHQWDO $VVHVVPHQW 7RRO SURJUDP HYDOXDWHV FRPSXWHU GHVNWRSV ODSWRSV DQG PRQLWRUV EDVHG RQ HQYLURQPHQWDO FULWHULD GHYHORSHG WKURXJK DQ H[WHQVLYH VWDNHKROGHU FRQVHQVXV SURFHVV VXSSRUWHG E\ 86 (3$ v (1 $ $ $ 6DIHW\ UHTXLUHPHQW RI ,QIRUPDWLRQ 7HFKQRORJ\ (TXLSPHQW v (1 5DGLR 'LVWXUEDQFH
7K{QJ WLQ TX\ ÿӏQK (QHUJ\ 6WDU 'HFODUDWLRQ &KDQJHV RU PRGLILFDWLRQV QRW H[SUHVVO\ DSSURYHG E\ WKH SDUW\ UHVSRQVLEOH IRU FRPSOLDQFH FRXOG YRLG WKH XVHUjV DXWKRULW\ WR RSHUDWH WKH HTXLSPHQW ZZZ HQHUJ\VWDU JRY $V DQ (1(5*< 67$5 3DUWQHU ZH KDYH GHWHUPLQHG WKDW WKLV SURGXFW PHHWV WKH (1(5*< 67$5 JXLGHOLQHV IRU HQHUJ\ HIILFLHQF\ 8VH RQO\ 5) VKLHOGHG FDEOH WKDW ZDV VXSSOLHG ZLWK WKH PRQLWRU ZKHQ FRQQHFWLQJ WKLV PRQLWRU WR D FRPSXWHU GHYLFH 1RWH :H UHFRPPHQG \RX VZLWFK RII WKH PRQLWRU ZK
7K{QJ WLQ TX\ ÿӏQK &HSHQGDQW ULHQ QH SHXW JDUDQWLU OjDEVHQFH GjLQWHUIÑUHQFHV GDQV OH FDGUH GjXQH LQVWDOODWLRQ SDUWLFXOLÔUH 6L FHW DSSDUHLO HVW OD FDXVH GjLQWHUIÑUHQFHV QXLVLEOHV SRXU OD UÑFHSWLRQ GHV VLJQDX[ GH UDGLR RX GH WÑOÑYLVLRQ FH TXL SHXW ÒWUH GÑFHOÑ HQ IHUPDQW OjÑTXLSHPHQW SXLV HQ OH UHPHWWDQW HQ IRQFWLRQ OjXWLOLVDWHXU SRXUUDLW HVVD\HU GH FRUULJHU OD VLWXDWLRQ HQ SUHQDQW OHV PHVXUHV VXLYDQWHV (1 &RPSOLDQFH &]HFK 5HSXEOLF 2QO\ 3ROLVK &HQWHU IRU 7HVWLQJ DQG &HUWLILFDWLRQ 1
7K{QJ WLQ TX\ ÿӏQK 1RUWK (XURSH 1RUGLF &RXQWULHV ,QIRUPDWLRQ (UJRQRPLH +LQZHLV QXU 'HXWVFKODQG 3ODFHULQJ 9HQWLODWLRQ 9$51,1* )À56±.5$ ',* 20 $77 +898'%5<7$5( 2&+ 877$* ±5 /±7³7.
7K{QJ WLQ TX\ ÿӏQK &KLQD 5R+6 (8 (QHUJ\ /DEHO 7KH 3HRSOHjV 5HSXEOLF RI &KLQD UHOHDVHG D UHJXODWLRQ FDOOHG 0DQDJHPHQW 0HWKRGV IRU &RQWUROOLQJ 3ROOXWLRQ E\ (OHFWURQLF ,QIRUPDWLRQ 3URGXFWV RU FRPPRQO\ UHIHUUHG WR DV &KLQD 5R+6 $OO SURGXFWV LQFOXGLQJ &57 DQG 0RQLWRU ZKLFK DUH SURGXFHG DQG VROG IRU &KLQD PDUNHW KDYH WR PHHW &KLQD 5R+6 UHTXHVW 7KH (XURSHDQ (QHUJ\ /DEHO LQIRUPV \RX RQ WKH HQHUJ\ HIILFLHQF\ FODVV RI WKLV SURGXFW 7KH JUHHQHU WKH HQHUJ\ HIILFLHQF\ FODVV RI WKLV SURGXFW LV WKH OR
'ӏFK Yө FKăP VyF NKiFK KjQJ Yj EҧR KjQK ҧQK ViQJ OrQ ED ÿLӇP ҧQK FRQ Fy PjX VҳF FQJ KLӇQ WKӏ QKѭ PӝW ÿLӇP ҧQK WUҳQJ ÿѫQ Oҿ .
'ӏFK Yө FKăP VyF NKiFK KjQJ Yj EҧR KjQK Ĉӝ JҫQ FӫD FiF OӛL ÿLӇP ҧQK %D ÿLӇP ҧQK FRQ ViQJ JҫQ QKDX PӝW ÿLӇP ҧQK WUҳQJ 9u FiF OӛL ÿLӇP ҧQK Yj ÿLӇP ҧQK FRQ FӫD FQJ NLӇX OӛL YӕQ JҫQ YӟL PӝW NLӇX OӛL NKiF Fy WKӇ GӉ QKuQ WKҩ\ KѫQ 3KLOLSV FNJQJ QrX U} FiF GXQJ VDL YӅ ÿӝ JҫQ FӫD OӛL ÿLӇP ҧQK *KL FK~ &KҩP ViQJ ÿӓ KD\ ODP SKҧL ViQJ KѫQ VR YӟL FiF FKҩP [XQJ TXDQK WURQJ NKL FKҩP ViQJ OөF ViQJ KѫQ VR YӟL FiF FKҩP [XQJ TXDQK &iF OӛL FKҩP ÿHQ &iF OӛL FKҩP ÿHQ KLӇQ WKӏ GѭӟL GҥQJ FiF ÿLӇP ҧQK
'ӏFK Yө FKăP VyF NKiFK KjQJ Yj EҧR KjQK &KăP VyF NKiFK KjQJ &KӃ ÿӝ EҧR KjQK ĈӇ Fy WK{QJ WLQ FKL WLӃW YӅ FKtQK ViFK EҧR KjQK Yj \rX FҫX Kӛ WUӧ WKrP ÿѭӧF iS GөQJ FKR NKX YӵF FӫD EҥQ YXL OzQJ WUX\ FұS ZHEVLWH ZZZ SKLOLSV FRP VXSSRUW %ҥQ FNJQJ Fy WKӇ OLrQ KӋ YӟL 7UXQJ WkP FKăP VyF NKiFK KjQJ ÿӏD SKѭѫQJ FӫD 3KLOLSV WKHR Vӕ ÿLӋQ WKRҥL GѭӟL ÿk\ 7K{QJ WLQ OLrQ OҥF FKR NKX YӵF 7Æ< Æ8 4XӕF JLD $6& 7UXQJ WkP GӏFK Yө ӫ\ TX\ӅQ 6ӕ FKăP VyF NKiFK KjQJ *Li *HUPDQ\ 6LHPHQV , 6 ¼
'ӏFK Yө FKăP VyF NKiFK KjQJ Yj EҧR KjQK 7K{QJ WLQ OLrQ OҥF FKR NKX YӵF 7581* 9¬ ĈÐ1* Æ8 4XӕF JLD 7UXQJ WkP GӏFK Yө $6& 7UXQJ WkP GӏFK Yө ӫ\ TX\ӅQ 6ӕ FKăP VyF NKiFK KjQJ %HODUXV 1$ ,%$ %XOJDULD 1$ /$1 6HUYLFH &URDWLD 1$ 5HQRSURP (VWRQLD 1$ )8-,768 /DWYLD 1$ ³6HUYLFH1HW /9´ /WG /LWKXDQLD 1$ 8$% 6HUYLFHQHW 5RPDQLD 1$ %OXH 5LGJH ,QWO 6HUELD 1$ 0RQWHQHJUR .
'ӏFK Yө FKăP VyF NKiFK KjQJ Yj EҧR KjQK 7K{QJ WLQ OLrQ OҥF FKR NKX YӵF &KkX È 7%' 7UXQJ Ĉ{QJ &KkX 3KL $30($ 4XӕF JLD $XVWUDOLD 7UXQJ WkP GӏFK Yө 1$ $6& 7UXQJ WkP GӏFK Yө ӫ\ TX\ӅQ 6ӕ FKăP VyF NKiFK KjQJ $*26 1(7:25. 37< /7' 1HZ =HDODQG 1$ 9LVXDO *URXS /WG +RQJ .RQJ 1$ 0DFDX 6PDUW 3L[HOV 7HFKQRORJ\ /WG +RQJ .
.KҳF SKөF Vӵ Fӕ +ӓL ĈiS 1~W $872 7ӵ ÿӝQJ NK{QJ KRҥW ÿӝQJ .KҳF SKөF Vӵ Fӕ +ӓL ĈiS &KӭF QăQJ Wӵ ÿӝQJ FKӍ iS GөQJ ӣ FKӃ ÿӝ 9*$ $QDORJ 1ӃX NK{QJ KjL OzQJ YӟL NӃW TXҧ EҥQ Fy WKӇ WKӵF KLӋQ FiF ÿLӅX FKӍQK WKӫ F{QJ TXD PHQX 26' KLӇQ WKӏ WUrQ PjQ KuQK .KҳF SKөF Vӵ Fӕ 7UDQJ Qj\ JLҧL TX\ӃW FiF Vӵ Fӕ YӕQ QJѭӡL GQJ Fy WKӇ NKҳF SKөF 1ӃX Vӵ Fӕ YүQ WLӃS GLӉQ VDX NKL EҥQ ÿm WKӱ GQJ FiF JLҧL SKiS WUrQ WUDQJ Qj\ Km\ OLrQ KӋ YӟL ÿҥL GLӋQ GӏFK Yө NKiFK KjQJ FӫD 3KLOLSV *KL FK~ &KӭF
.KҳF SKөF Vӵ Fӕ +ӓL ĈiS /RҥL Eӓ FiF YҥFK GӑF TXD 3KDVH &ORFN *yF SKD ĈӗQJ Kӗ FӫD 6HWXS &jL ÿһW WURQJ FiF Q~W ÿLӅX NKLӇQ FKtQK FӫD PHQX 26' 1y FKӍ Fy KLӋX OӵF ӣ FKӃ ÿӝ 9*$ .K{QJ WKӇ NtFK KRҥW WUuQK EҧR YӋ PjQ KuQK KRһF ӭQJ GөQJ QҥS OҥL PjQ KuQK ÿӏQK NǤ Fy WKӇ Jk\ UD FiF Vӵ Fӕ QJKLrP WUӑQJ QKѭ ³WKӱ QyQJ´ KRһF ³ҧQK VDX´ KRһF ³ҧQK EyQJ PD´ YӕQ VӁ NK{QJ ELӃW PҩW Yj FNJQJ NK{QJ WKӇ NKҳF SKөF 7KLӋW KҥL QKѭ WUrQ NK{QJ QҵP WURQJ FKtQK ViFK EҧR KjQK FӫD FK~QJ W{L +LӇQ WKӏ KLӋQ WѭӧQJ FK
.KҳF SKөF Vӵ Fӕ +ӓL ĈiS + .KL W{L FOLFN YjR 3URGXFW ,QIRUPDWLRQ 7K{QJ WLQ VҧQ SKҭP Qy FKӍ KLӇQ WKӏ PӝW SKҫQ ÿLӅX Ju ÿm [ҧ\ UD" ĈiS &y WKӇ Oj GR GULYHU Eӝ WKtFK ӭQJ ÿӗ KӑD FӫD EҥQ NK{QJ SKҧL Oj SKLrQ EҧQ FұS QKұW PӟL QKҩW YӕQ Kӛ WUӧ ÿҫ\ ÿӫ JLDR GLӋQ ''& &, +m\ WKӱ WҧL YӅ GULYHU Eӝ WKtFK ӭQJ ÿӗ KӑD PӟL QKҩW Wӯ ZHEVLWH FӫD FiF F{QJ W\ WѭѫQJ ӭQJ &jL ÿһW GULYHU *} Eӓ 6PDUW&RQWURO /LWH Yj FjL ÿһW OҥL PӝW OҫQ QӳD + &iF FKӭF QăQJ 6PDUW&RQWURO /LWH ÿm KRҥW ÿӝQJ WӕW WUѭӟF ÿy QKѭQJ
.KҳF SKөF Vӵ Fӕ +ӓL ĈiS Oj Ju" /jP WKӃ QjR ÿӇ FjL ÿһW FiF GULYHU LQI Yj LFP " ĈiS Ĉk\ Oj FiF ¿OH GULYHU FKR PjQ KuQK FӫD EҥQ 7KӵF KLӋQ WKHR FiF FKӍ GүQ WURQJ Vә WD\ Vӱ GөQJ ÿӇ FjL ÿһW FiF GULYHU Qj\ 0i\ WtQK Fy WKӇ \rX FҫX EҥQ FjL FiF GULYHU PjQ KuQK ¿OH LQI Yj LFP KRһF OҳS ÿƭD GULYHU NKL EҥQ FjL ÿһW PjQ KuQK OҫQ ÿҫX 7KӵF KLӋQ WKHR FiF FKӍ GүQ ÿӇ OҳS ÿƭD &' NqP WKHR WKQJ ÿӵQJ PjQ KuQK Qj\ &iF GULYHU PjQ KuQK ¿OH LQI Yj LFP VӁ ÿѭӧF FjL ÿһW Wӵ ÿӝQJ +ӓL ĈiS FKXQJ +
.KҳF SKөF Vӵ Fӕ +ӓL ĈiS + 0jQ KuQK /&' 3KLOLSV Fy Kӛ WUӧ FKXҭQ &ҳP YjR Oj SKiW" ĈiS &y FiF PjQ KuQK 3KLOLSV ÿӅX Kӛ WUӧ FKXҭQ 3OXJ DQG 3OD\ WѭѫQJ WKtFK YӟL :LQGRZV :LQGRZV 17 0DF 26; /LQX[ + 7{L Fy WKӇ WKD\ ÿәL FjL ÿһW PjX VҳF FKR PjQ KuQK" ĈiS 'ƭ QKLrQ EҥQ Fy WKӇ WKD\ ÿәL FjL ÿһW PjX VҳF TXD Q~W ÿLӅX NKLӇQ WUrQ PHQX 26' WKHR FiF TX\ WUuQK VDX 1KҩQ ³2.´ ÿӇ KLӇQ WKӏ PHQX 26' +LӇQ WKӏ WUrQ PjQ KuQK + ҦQK FKұS FKӡQ KD\ ҧQK WKӱ QyQJ KD\ ҧQK ҧR KD\ ҧQK EyQJ PD WUrQ PjQ KuQ
.KҳF SKөF Vӵ Fӕ +ӓL ĈiS ĈiS 1KӳQJ FkX KӓL WKѭӡQJ JһS )$4 YӅ 0+/ &KXҭQ 0+/ [iF ÿӏQK S# K] Fӕ ÿӏQK FKR ÿҫX UD Yj ÿҫX YjR 0jQ KuQK Qj\ WѭѫQJ WKtFK YӟL FKXҭQ Qj\ + 7{L NK{QJ QKuQ WKҩ\ KuQK ҧQK Wӯ WKLӃW Eӏ GL ÿӝQJ WUrQ PjQ KuQK ĈiS &KҩW OѭӧQJ KuQK ҧQK W\ WKXӝF YjR FKҩW OѭӧQJ FӫD FiF QӝL GXQJ JӕF 1ӃX QӝL GXQJ Fy ÿӝ SKkQ JLҧL FDR Yt Gө QKѭ +' KRһF S WKu Qy VӁ KLӇQ WKӏ ӣ FKӃ ÿӝ +' KRһF S WUrQ PjQ KuQK Qj\ 1ӃX QӝL GXQJ JӕF Fy ÿӝ SKkQ JLҧL WKҩS Yt Gө QKѭ 49*$
.RQLQNOLMNH 3KLOLSV (OHFWURQLFV 1 9 %ҧR OѭX PӑL EҧQ TX\ӅQ 3KLOLSV Yj 3KLOLSV 6KLHOG (PEOHP Oj QKӳQJ WKѭѫQJ KLӋX ÿm ÿăQJ Nê FӫD .RQLQNOLMNH 3KLOLSV (OHFWURQLFV 1 9 Yj ÿѭӧF Vӱ GөQJ GѭӟL JLҩ\ SKpS FӫD .RQLQNOLMNH 3KLOLSV (OHFWURQLFV 1 9 &iF WK{QJ Vӕ Nӻ WKXұW OX{Q ÿѭӧF WKD\ ÿәL Pj NK{QJ FҫQ WK{QJ EiR WUѭӟF 3KLrQ EҧQ 0 ( 7