被低估的小锂电黑马

发布于 2026-06-27

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auto;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;font-weight: bold;flex-direction: unset;float: unset;height: auto;justify-content: unset;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span leaf="">3ãEPSè°æ´ï¼å¤§æ¯ä¾è½¬å¢ä¼ç¨éå©æ¶¦åï¼</span></span></h3><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">æ ¹æ®å¬å¸2025å¹´åº¦å©æ¶¦åéé¢æ¡ï¼å¬å¸æä»¥æ»è¡æ¬11.54äº¿è¡ä¸ºåºæ°ï¼âåå¨ä½è¡ä¸æ¯10è¡æ´¾åç°éçº¢å©1åï¼å«ç¨ï¼ï¼ä»¥èµæ¬å¬ç§¯éåå¨ä½è¡ä¸æ¯10è¡è½¬å¢4.8è¡âãæ¬æ¬¡æ²¡ææ³¨éå¼åè´ï¼ä¸åå¨è¡ä»½æ³¨éå¸¦æ¥çEPSå¢åï¼ä½48%çè¡æ¬æ©å¤§ï¼ä¼ä½¿å¾åºæååç»çEPSæ°æ®è¢«å¨ç¨éï¼æèµèçåæ¯å¢éçæ¶åéè¦æ³¨æå£å¾è°æ´ã</span></p><hr style="margin-top: 10px;margin-bottom: 10px;margin-left: 0px;margin-right: 0px;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;border-top-style: solid;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 3px;border-left-width: 3px;border-right-width: 3px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgba(0, 0, 0, 0.4);border-left-color: rgba(0, 0, 0, 0.4);border-right-color: rgba(0, 0, 0, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;background-attachment: scroll;background-clip: border-box;background-color: rgba(0, 0, 0, 0);background-image: none;background-origin: padding-box;background-position-x: left;background-position-y: top;background-repeat: no-repeat;background-size: auto;width: auto;height: 1px;" /><h2 data-tool="mdniceç¼è¾å¨" style=" align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: flex;flex-direction: unset;float: unset;height: auto;justify-content: center;line-height: 1.5em;margin-top: 30px;margin-bottom: 15px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px; text-align: left;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span style=" font-size: 22px;line-height: 1.5em;letter-spacing: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;background-attachment: scroll;background-clip: text;background-color: transparent;background-image: linear-gradient(rgb(10, 10, 255) 0%, rgba(0, 0, 0, 0) 90%);background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;width: auto;height: auto;align-items: unset;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;color: rgba(0, 0, 0, 0);display: block;font-weight: bold;font-style: normal;flex-direction: unset;float: unset;justify-content: unset;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;-webkit-box-reflect: unset; "><span leaf="">ç¬¬äºé¨åï¼åä¸çæéªè¯ï¼ç¬¬äºæ²çº¿ççè½è½å°åï¼</span></span></h2><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">èèéè¯ç®åæä¸å¤§æ ¸å¿ä¸å¡æ¿åï¼éçµæ± ï¼å°åæ±å¨åç³»ç»ï¼ãLEDè¯çï¼é«è²ååæ¾ç¤ºæ¹æ¡ï¼ãéå±ç©æµééï¼ä¸åä¸å¡å½¢æäºéå¸¸æ¸æ°çåé¨ååï¼éå±ç©æµééä¸å¡è´è´£è´¡ç®ç¨³å®ç°éæµï¼ææç°éæµæ±èå°éå¢æ»é¨èµéæ± åï¼æç»æ¯æLEDè¯çåé«è²åãè½¦è½½æ¾ç¤ºæ¹æ¡åçº§ï¼åæ¶æ¯æéçµæ± æ¿åçå¤©é¹çµæºå®ææµ·å¤äº§è½æ©å¼ ï¼æç»åå¥AIæºå¨äººãBBUå¤ç¨çµæºçæ°å´é«æ¯å©åºç¨åºæ¯ã</span></p><h3 data-tool="mdniceç¼è¾å¨" style=" border-bottom-color: rgb(37, 132, 181);margin-top: 30px;margin-bottom: 15px;margin-left: 0px;margin-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: solid;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;flex-direction: unset;float: unset;height: auto;justify-content: unset;line-height: 1.5em;overflow-x: unset;overflow-y: unset;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px; text-align: left;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span style=" font-size: 20px;color: rgb(37, 132, 181);line-height: 1.5em;letter-spacing: 0em;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;font-weight: bold;flex-direction: unset;float: unset;height: auto;justify-content: unset;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span leaf="">1ãä»·å¼åé æ£éªï¼å¬å¸ççå¨èµâçé±âåï¼</span></span></h3><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">å¤æå¬å¸æ©å¼ æ¯ä»·å¼åé è¿æ¯ä»·å¼æ¯çï¼ææ ¸å¿çææ å°±æ¯æ¯è¾æå¥èµæ¬åæ¥çï¼ROICï¼åå æå¹³åèµæ¬ææ¬ï¼WACCï¼ï¼åªæROICå¤§äºWACCï¼å¬å¸æ¯æä¸åé±æè½åé æ°å¢ä»·å¼ï¼åä¹å°±æ¯å¨æ¯çè¡ä¸è´¢å¯ã</span></p><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">æ¥ååºäº2025å¨å¹´æ°æ®å®ææµç®ï¼</span></p><ul style="list-style-type: disc;margin-top: 8px;margin-bottom: 8px;margin-left: 0px;margin-right: 0px;padding-top: 0px;padding-bottom: 0px;padding-left: 25px;padding-right: 0px;color: rgb(0, 0, 0);" class="list-paddingleft-1"><li><section style="margin-top: 5px;margin-bottom: 5px;color: rgb(1, 1, 1);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;font-weight: normal;"><span leaf="">æ é£é©å©çéå®10å¹´æå½åºï¼ä¸º2.2%ï¼å¸åºé£é©æº¢ä»·å6.0%ï¼å¬å¸è´å¡ç³»æ°ä¸º1.15ï¼è®¡ç®å¾å°æçææ¬ä¸ºï¼</span><code style="color: rgb(30, 107, 184);font-size: 14px;line-height: 1.8em;letter-spacing: 0em;background-attachment: scroll;background-clip: border-box;background-color: rgba(27, 31, 35, 0.05);background-image: none;background-origin: padding-box;background-position-x: left;background-position-y: top;background-repeat: no-repeat;background-size: auto;width: auto;margin-top: 0px;margin-bottom: 0px;margin-left: 2px;margin-right: 2px;padding-top: 2px;padding-bottom: 2px;padding-left: 4px;padding-right: 4px;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 3px;border-bottom-width: 3px;border-left-width: 3px;border-right-width: 3px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgba(0, 0, 0, 0.4);border-left-color: rgba(0, 0, 0, 0.4);border-right-color: rgba(0, 0, 0, 0.4);border-top-left-radius: 4px;border-top-right-radius: 4px;border-bottom-right-radius: 4px;border-bottom-left-radius: 4px;overflow-wrap: break-word;font-family: Consolas, Monaco, Menlo, monospace;word-break: break-all;"><span leaf="">2.2% + 1.15*6% = 9.1%</span></code></section></li><li><section style="margin-top: 5px;margin-bottom: 5px;color: rgb(1, 1, 1);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;font-weight: normal;"><span leaf="">åºå¡ç¨åææ¬ä¸º3.5%*(1-15%)=2.975%ï¼å½åèµæ¬ç»æä¸ºåºå¡å 30%ãæçå 70%ï¼è®¡ç®å¾å°å æå¹³åèµæ¬ææ¬WACC=7.26%</span></section></li><li><section style="margin-top: 5px;margin-bottom: 5px;color: rgb(1, 1, 1);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;font-weight: normal;"><span leaf="">è¿ä¸æ¥è®¡ç®æå¥èµæ¬åæ¥çROICçº¦ä¸º9.02%</span></section></li></ul><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">æç»ç»ææ¯</span><code style="color: rgb(30, 107, 184);font-size: 14px;line-height: 1.8em;letter-spacing: 0em;background-attachment: scroll;background-clip: border-box;background-color: rgba(27, 31, 35, 0.05);background-image: none;background-origin: padding-box;background-position-x: left;background-position-y: top;background-repeat: no-repeat;background-size: auto;width: auto;height: auto;margin-top: 0px;margin-bottom: 0px;margin-left: 2px;margin-right: 2px;padding-top: 2px;padding-bottom: 2px;padding-left: 4px;padding-right: 4px;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 3px;border-bottom-width: 3px;border-left-width: 3px;border-right-width: 3px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgba(0, 0, 0, 0.4);border-left-color: rgba(0, 0, 0, 0.4);border-right-color: rgba(0, 0, 0, 0.4);border-top-left-radius: 4px;border-top-right-radius: 4px;border-bottom-right-radius: 4px;border-bottom-left-radius: 4px;overflow-wrap: break-word;font-family: Consolas, Monaco, Menlo, monospace;word-break: break-all;"><span leaf="">ROIC(9.02%) > WACC(7.26%)</span></code><span leaf="">ï¼è¯´æèèéè¯å½åçæ©å¼ å±äºç»æµå¢å¼ï¼EVAï¼åé ç¶æï¼ä¸æ¯ä¸è®¡ææ¬çä»·å¼æ¯çåæ©å¼ ï¼è¡ä¸æå¥çèµæ¬è½å¤è·å¾è¶è¿ææ¬çåæ¥ã</span></p><h3 data-tool="mdniceç¼è¾å¨" style=" border-bottom-color: rgb(37, 132, 181);margin-top: 30px;margin-bottom: 15px;margin-left: 0px;margin-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: solid;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;flex-direction: unset;float: unset;height: auto;justify-content: unset;line-height: 1.5em;overflow-x: unset;overflow-y: unset;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px; text-align: left;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span style=" font-size: 20px;color: rgb(37, 132, 181);line-height: 1.5em;letter-spacing: 0em;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;font-weight: bold;flex-direction: unset;float: unset;height: auto;justify-content: unset;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 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1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;font-weight: bold;flex-direction: unset;float: unset;height: auto;justify-content: unset;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span leaf="">1ãä¼°å¼è·è¿æ¦çï¼ç°å¨æ¯ä½ä¼°è¿æ¯é«ä¼°ï¼</span></span></h3><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">æ¥ååºäºåå²PE-TTM/PB-ROEåå¸ï¼æå»ºäºä¼°å¼ç¶æçé©¬å°å¯å¤«è½¬ç§»ç©éµï¼æ¨æ¼æªæ¥6ä¸ªæï¼ä¼°å¼å¨âä½ä¼°ï¼PE<15xï¼ãåçä¸æ¢ï¼PE15x-25xï¼ãé«ä¼°ï¼PE>25xï¼âä¸ä¸ªç¶æä¹é´è·è¿çæ¦çãå½åèèéè¯çPE-TTMåå¥½å¤äºåçä¸æ¢ä½ç½®ï¼æ¨¡åæ¾ç¤ºï¼æªæ¥6ä¸ªææ65%çæ¦çç»´æå¨åçä¸æ¢ï¼ä»ä½ä¼°è½¬ç§»å°ä¸æ¢çæ¦çä¸º25%ï¼ä»ä¸æ¢è¿å¥é«ä¼°çæ¦çä¸º17%ï¼æ´ä½ä¼°å¼ç¶æç¨³å®ï¼æ²¡æé«ä¼°æ³¡æ²«ã</span></p><h3 data-tool="mdniceç¼è¾å¨" style=" border-bottom-color: rgb(37, 132, 181);margin-top: 30px;margin-bottom: 15px;margin-left: 0px;margin-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: solid;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;flex-direction: unset;float: unset;height: auto;justify-content: unset;line-height: 1.5em;overflow-x: unset;overflow-y: unset;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px; text-align: left;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span style=" font-size: 20px;color: rgb(37, 132, 181);line-height: 1.5em;letter-spacing: 0em;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;font-weight: bold;flex-direction: unset;float: unset;height: auto;justify-content: unset;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span leaf="">2ãèµéåå¼é¾æ¡ï¼è°å¨ä¹°ï¼è°å¨åï¼</span></span></h3><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 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1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;flex-direction: unset;float: unset;height: auto;justify-content: unset;line-height: 1.5em;overflow-x: unset;overflow-y: unset;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px; text-align: left;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span style=" font-size: 20px;color: rgb(37, 132, 181);line-height: 1.5em;letter-spacing: 0em;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;font-weight: bold;flex-direction: unset;float: unset;height: auto;justify-content: unset;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span leaf="">3ãæ ææ¸©åº¦ï¼ææ²¡ææ æè¸©è¸é£é©ï¼</span></span></h3><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 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0px;border-bottom-right-radius: 0px;box-shadow: none;display: flex;flex-direction: unset;float: unset;height: auto;justify-content: center;line-height: 1.5em;margin-top: 30px;margin-bottom: 15px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px; text-align: left;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span style=" font-size: 22px;line-height: 1.5em;letter-spacing: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;background-attachment: scroll;background-clip: text;background-color: transparent;background-image: linear-gradient(rgb(10, 10, 255) 0%, rgba(0, 0, 0, 0) 90%);background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;width: auto;height: auto;align-items: unset;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;color: rgba(0, 0, 0, 0);display: block;font-weight: bold;font-style: normal;flex-direction: unset;float: unset;justify-content: unset;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;-webkit-box-reflect: unset; "><span leaf="">ç¬¬äºé¨åï¼å¤ç»´ä¼°å¼æµç®ï¼21.13åå°åºæ¯è´µè¿æ¯ä¾¿å®ï¼</span></span></h2><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 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1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;font-weight: bold;flex-direction: unset;float: unset;height: auto;justify-content: unset;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span leaf="">1ãåç»ä¸ç»©é¢æµï¼äºå£åº¦è½èµå¤å°é±ï¼</span></span></h3><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span 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0px;margin-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: solid;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;flex-direction: unset;float: unset;height: auto;justify-content: unset;line-height: 1.5em;overflow-x: unset;overflow-y: unset;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px; text-align: left;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span style=" font-size: 20px;color: rgb(37, 132, 181);line-height: 1.5em;letter-spacing: 0em;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;font-weight: bold;flex-direction: unset;float: unset;height: auto;justify-content: unset;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span leaf="">2ãååå·¥ç¨æ¨å¯¼ï¼å½åä»·æ ¼éå«çå¢é¿é¢ææ¯å¤å°ï¼</span></span></h3><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">å©ç¨æ°¸ç»å¢é¿æ¨¡åå¯¹å½åå¸å¼ï¼21.13åå¯¹åºå¸å¼çº¦243.8äº¿åï¼åååæ¨å¯¼ï¼è®¡ç®å¸åºå½åä»·æ ¼éå«çæ°¸ç»å¢é¿çï¼å¬å¼ä¸ºï¼</span><code style="color: rgb(30, 107, 184);font-size: 14px;line-height: 1.8em;letter-spacing: 0em;background-attachment: scroll;background-clip: border-box;background-color: rgba(27, 31, 35, 0.05);background-image: none;background-origin: padding-box;background-position-x: left;background-position-y: top;background-repeat: no-repeat;background-size: auto;width: auto;height: auto;margin-top: 0px;margin-bottom: 0px;margin-left: 2px;margin-right: 2px;padding-top: 2px;padding-bottom: 2px;padding-left: 4px;padding-right: 4px;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 3px;border-bottom-width: 3px;border-left-width: 3px;border-right-width: 3px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgba(0, 0, 0, 0.4);border-left-color: rgba(0, 0, 0, 0.4);border-right-color: rgba(0, 0, 0, 0.4);border-top-left-radius: 4px;border-top-right-radius: 4px;border-bottom-right-radius: 4px;border-bottom-left-radius: 4px;overflow-wrap: break-word;font-family: Consolas, Monaco, Menlo, monospace;word-break: break-all;"><span leaf="">Implied_g = WACC - (ä¸ä¸æèªç±ç°éæµ/å½åä¼ä¸ä»·å¼)</span></code><span leaf="">ä»£å¥WACC=7.26%ã2025å¹´èªç±ç°éæµæ°æ®è®¡ç®å¾å°ï¼å½åä»·æ ¼éå«çæ°¸ç»å¢é¿çä»ä¸º2.15%ãå¯¹äºä¸å®¶å¨éçµæ± ãé«ç«¯LEDè¯çé½ææç¡®å¢é¿æ½åçç§ææ çæ¥è¯´ï¼è¿ä¸ªéå«å¢é¿é¢æææ¾æ¯ä½ä¼°çï¼ä¹å°±æ¯è¯´ï¼å½åè¡ä»·æ²¡æåååæ ç¬¬äºæ²çº¿çå¢é¿ä»·å¼ã</span></p><h3 data-tool="mdniceç¼è¾å¨" style=" border-bottom-color: rgb(37, 132, 181);margin-top: 30px;margin-bottom: 15px;margin-left: 0px;margin-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: solid;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;flex-direction: unset;float: unset;height: auto;justify-content: unset;line-height: 1.5em;overflow-x: unset;overflow-y: unset;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px; text-align: left;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span style=" font-size: 20px;color: rgb(37, 132, 181);line-height: 1.5em;letter-spacing: 0em;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;align-items: unset;background-attachment: scroll;background-clip: border-box;background-color: transparent;background-image: none;background-origin: padding-box;background-position-x: 0%;background-position-y: 0%;background-repeat: no-repeat;background-size: auto;border-top-style: none;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgb(0, 0, 0);border-left-color: rgb(0, 0, 0);border-right-color: rgb(0, 0, 0);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-left-radius: 0px;border-bottom-right-radius: 0px;box-shadow: none;display: block;font-weight: bold;flex-direction: unset;float: unset;height: auto;justify-content: unset;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;overflow-x: unset;overflow-y: unset; text-align: left;text-indent: 0em;text-shadow: none;transform: none;width: auto;-webkit-box-reflect: unset; "><span leaf="">3ãåè¡å¯¹æ¯ï¼åçä¼°å¼ä¸æ¢æ¯å¤å°ï¼</span></span></h3><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">æ¥åéåäºä¸å¡è´´è¿çå¯æ¯å¬å¸ï¼äº¿çº¬éè½ãå½è½©é«ç§ãä¸å®åçµï¼åäºå¤ç»´æ¨ªåå¯¹æ¯ï¼</span></p><section data-tool="mdniceç¼è¾å¨" style="margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;overflow-x: auto;"><table style="display: table;text-align: left;"><thead><tr><th style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.5em;letter-spacing: 0em;text-align: left;font-weight: bold;background: none left top / auto no-repeat scroll padding-box border-box rgb(240, 240, 240);height: auto;border-style: solid;border-width: 1px;border-color: rgba(204, 204, 204, 0.4);border-radius: 0px;padding: 5px 10px;min-width: 85px;"><section><span leaf="">å¬å¸åç§°</span></section></th><th style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.5em;letter-spacing: 0em;text-align: left;font-weight: bold;background: none left top / auto no-repeat scroll padding-box border-box rgb(240, 240, 240);height: auto;border-style: solid;border-width: 1px;border-color: rgba(204, 204, 204, 0.4);border-radius: 0px;padding: 5px 10px;min-width: 85px;"><section><span leaf="">2026E PE</span></section></th><th style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.5em;letter-spacing: 0em;text-align: left;font-weight: bold;background: none left top / auto no-repeat scroll padding-box border-box rgb(240, 240, 240);height: auto;border-style: solid;border-width: 1px;border-color: rgba(204, 204, 204, 0.4);border-radius: 0px;padding: 5px 10px;min-width: 85px;"><section><span leaf="">PBï¼ææ°ï¼</span></section></th><th style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.5em;letter-spacing: 0em;text-align: left;font-weight: bold;background: none left top / auto no-repeat scroll padding-box border-box rgb(240, 240, 240);height: auto;border-style: solid;border-width: 1px;border-color: rgba(204, 204, 204, 0.4);border-radius: 0px;padding: 5px 10px;min-width: 85px;"><section><span leaf="">ROEï¼TTMï¼</span></section></th><th style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.5em;letter-spacing: 0em;text-align: left;font-weight: bold;background: none left top / auto no-repeat scroll padding-box border-box rgb(240, 240, 240);height: auto;border-style: solid;border-width: 1px;border-color: rgba(204, 204, 204, 0.4);border-radius: 0px;padding: 5px 10px;min-width: 85px;"><section><span leaf="">æ ¸å¿ä¸å¡</span></section></th></tr></thead><tbody><tr style="color: rgb(0, 0, 0);background-attachment: scroll;background-clip: border-box;background-color: rgb(255, 255, 255);background-image: none;background-origin: padding-box;background-position-x: left;background-position-y: top;background-repeat: no-repeat;background-size: auto;width: auto;height: auto;"><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">èèéè¯</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">22.5x</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">3.11x</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">9.53%</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">å¨åå°åæ±éçµ+é«ç«¯LED</span></section></td></tr><tr style="color: rgb(0, 0, 0);background-attachment: scroll;background-clip: border-box;background-color: rgb(248, 248, 248);background-image: none;background-origin: padding-box;background-position-x: left;background-position-y: top;background-repeat: no-repeat;background-size: auto;width: auto;height: auto;"><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">äº¿çº¬éè½</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">18.2x</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">2.05x</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">11.20%</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">å¤§åæ±/å¨åçµæ± /å¨è½</span></section></td></tr><tr style="color: rgb(0, 0, 0);background-attachment: scroll;background-clip: border-box;background-color: rgb(255, 255, 255);background-image: none;background-origin: padding-box;background-position-x: left;background-position-y: top;background-repeat: no-repeat;background-size: auto;width: auto;height: auto;"><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">ä¸å®åçµ</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">35.1x</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">1.62x</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">2.10%</span></section></td><td style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 10px;min-width: 85px;border-top-style: solid;border-bottom-style: solid;border-left-style: solid;border-right-style: solid;border-top-width: 1px;border-bottom-width: 1px;border-left-width: 1px;border-right-width: 1px;border-top-color: rgba(204, 204, 204, 0.4);border-bottom-color: rgba(204, 204, 204, 0.4);border-left-color: rgba(204, 204, 204, 0.4);border-right-color: rgba(204, 204, 204, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;"><section><span leaf="">LEDè¯ç/ååç©åå¯¼ä½</span></section></td></tr></tbody></table></section><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">ç»åå¯¹æ¯ç»æï¼æµç®å¾å°èèéè¯çä¼°å¼åçä¸æ¢åºé´ä¸º19.80å-24.50åãå½åè¡ä»·21.13åæ°å¥½å¤äºåçåºé´çåä¸ä½ç½®ï¼å®å¨è¾¹ééå¸¸ååã</span></p><hr style="margin-top: 10px;margin-bottom: 10px;margin-left: 0px;margin-right: 0px;padding-top: 0px;padding-bottom: 0px;padding-left: 0px;padding-right: 0px;border-top-style: solid;border-bottom-style: none;border-left-style: none;border-right-style: none;border-top-width: 1px;border-bottom-width: 3px;border-left-width: 3px;border-right-width: 3px;border-top-color: rgb(0, 0, 0);border-bottom-color: rgba(0, 0, 0, 0.4);border-left-color: rgba(0, 0, 0, 0.4);border-right-color: rgba(0, 0, 0, 0.4);border-top-left-radius: 0px;border-top-right-radius: 0px;border-bottom-right-radius: 0px;border-bottom-left-radius: 0px;background-attachment: scroll;background-clip: border-box;background-color: rgba(0, 0, 0, 0);background-image: none;background-origin: padding-box;background-position-x: left;background-position-y: top;background-repeat: no-repeat;background-size: auto;width: auto;height: 1px;" /><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf="">å¨ææ»ç»ï¼èèéè¯å½åçç¬¬äºå¢é¿æ²çº¿å·²ç»è¿å¥åç°æï¼å¸åºå½åçå®ä»·æ²¡æåååæ æ°å´ä¸å¡çä»·å¼ï¼ä¼°å¼å¤äºåçåä¸ä½ç½®ï¼å®å¨è¾¹éåè¶³ï¼åæ¶æ ¸å¿é£é©æç¡®å¯æ§ï¼éåä¸åé£æ ¼çæèµèæ ¹æ®èªèº«é£é©æ¿åè½åå¸å±ã</span></p></section><hr style="border-style: solid;border-width: 1px 0 0;border-color: rgba(0,0,0,0.1);-webkit-transform-origin: 0 0;-webkit-transform: scale(1, 0.5);transform-origin: 0 0;transform: scale(1, 0.5);" /><section data-tool="mdniceç¼è¾å¨" data-website="https://www.mdnice.com" style="margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 0px;padding-bottom: 0px;padding-left: 10px;padding-right: 10px;background-attachment: scroll;background-clip: border-box;background-color: rgba(0, 0, 0, 0);background-image: none;background-origin: padding-box;background-position-x: left;background-position-y: top;background-repeat: no-repeat;background-size: auto;width: auto;font-family: Optima, 'Microsoft YaHei', PingFangSC-regular, 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initial;text-decoration-color: initial;background-color: rgb(255, 255, 255);line-height: 1.8;"><span leaf="" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0);margin: 0px;padding: 0px;outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;"><span textstyle="" style="color: rgba(0, 0, 0, 0.9);">æ´å¤æ·±åº¦èµè®¯ï¼è¯·å¨æé³æç´¢âç¦¾ç¥è´¢è®¯â</span></span></p><section data-layout-id="59" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0);margin: 0px 0px 24px;padding: 0px;outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;color: rgba(0, 0, 0, 0.9);font-family: "PingFang SC NEW", system-ui, -apple-system, BlinkMacSystemFont, "Helvetica Neue", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 17px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: 0.544px;orphans: 2;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;background-color: rgb(255, 255, 255);text-align: center;line-height: 1.8;"><section nodeleaf="" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0);margin: 0px 0px 24px;padding: 0px;outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;text-align: center;font-size: 17px;font-weight: 400;color: rgba(0, 0, 0, 0.9);line-height: 1.8;"><img alt="å¾ç" class="rich_pages wxw-img" data-aistatus="1" data-imgfileid="100048501" data-ratio="0.562962962962963" data-s="300,640" data-src="https://mmbiz.qpic.cn/sz_mmbiz_jpg/9alt9LFC5gx15eK0lKuZW3qvT1IH2jwQjicLpmiaJAYH7ia3SLbmMTRdpuzAPiaMCF1YMmuA6D3ZUKkAae7lZozGKX6GRHB0yWswUH3RTbP2JKo/640?wx_fmt=jpeg&from=appmsg&watermark=1&wxfrom=5&wx_lazy=1&tp=webp#imgIndex=0" data-type="jpeg" data-w="1080" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0);margin: 0px;padding: 0px;outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;vertical-align: bottom;height: auto !important;visibility: visible !important;width: 676.969px !important;" type="block"></section></section><p data-layout-id="60" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0);margin: 0px 0px 24px;padding: 0px;outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;clear: both;min-height: 1em;color: rgba(0, 0, 0, 0.9);font-family: "PingFang SC NEW", system-ui, -apple-system, BlinkMacSystemFont, "Helvetica Neue", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 17px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: 0.544px;orphans: 2;text-align: justify;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;background-color: rgb(255, 255, 255);line-height: 1.8;"><span leaf="" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0);margin: 0px;padding: 0px;outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;"><span textstyle="" style="color: rgba(0, 0, 0, 0.9);">åè´¹ä½éªï¼æå¼æµè§å¨ï¼https://schat.urasr.com</span></span></p><section data-layout-id="61" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0);margin: 0px 0px 24px;padding: 0px;outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;color: rgba(0, 0, 0, 0.9);font-family: "PingFang SC NEW", system-ui, -apple-system, BlinkMacSystemFont, "Helvetica Neue", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 17px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: 0.544px;orphans: 2;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;background-color: rgb(255, 255, 255);text-align: center;line-height: 1.8;"><section nodeleaf="" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0);margin: 0px 0px 24px;padding: 0px;outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;text-align: center;font-size: 17px;font-weight: 400;color: rgba(0, 0, 0, 0.9);line-height: 1.8;"><img alt="å¾ç" class="rich_pages wxw-img" data-aistatus="1" data-imgfileid="100048500" data-ratio="0.5640625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_png/9alt9LFC5gzsnTLIVu0XXhzaFfACl3riaEA2fjYJ7LcWb01tgDiaBaDhqYQROQ82ia8Xs7JDwtqeklj5YxhYduosb2HtXakrDE7TiakKsgEgm0k/640?wx_fmt=png&from=appmsg&watermark=1&wxfrom=5&wx_lazy=1&tp=webp#imgIndex=1" data-type="png" data-w="640" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0);margin: 0px;padding: 0px;outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;vertical-align: bottom;height: auto !important;visibility: visible !important;width: 640px !important;" type="block"></section></section><p data-tool="mdniceç¼è¾å¨" style="color: rgb(0, 0, 0);font-size: 16px;line-height: 1.8em;letter-spacing: 0em;text-align: left;text-indent: 0em;margin-top: 0px;margin-bottom: 0px;margin-left: 0px;margin-right: 0px;padding-top: 8px;padding-bottom: 8px;padding-left: 0px;padding-right: 0px;"><span leaf=""><br /></span></p></section><section><span leaf=""><br /></span></section><p style="display: none;"><mp-style-type data-value="3"></mp-style-type></p>

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