2021 1320
1 1
2021 04 30
.............................................................................................................................. 1
............................................................................................................................. 2
............................................................................................................................... 4
..................................... 4
................................................................................................................. 7
............................................................................................. 7
................................................................................................................. 8
............................................................................................................. 9
................................................................................................................. 9
............................................................................................................... 11
③ ................................................................................... 14
............................................................................................................... 17
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69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
〔
、
- 1 -
69 200002
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valuer@yinxincpv.com
2021 1320
8
2020 12 31
3,708.86
1,620.00 2,088.86
〕 56.32%
- 2 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
2020 12 31 2021 12 30
1 2018 7 23
HTWBTZ420110000201800012
3,600.00 : GE
8MWp :
80% 100%
1 》 ③
》 ③ ③
》 ③
》 ③
2
“ ”
③
- 3 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
2021 1320
〔
2020 12 31 ③
/
91350000768574458E
840,796.152 2004 11 30
231 20
2004 11 30
/
913700002671702282
(
)
986297.665300 1994 06 28
14800
- 4 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
1994 06 28
,
,
1
/
91420000271751324H
413,408.194695 1995 12 6
526
1995 12 6
3
2018 4 26
4
2018 12 31 2019 12 31 2020 12 31
45,755,994.70 46,408,224.06 43,793,109.39
35,375,994.70 37,020,860.09 6,704,528.09
10,380,000.00 9,387,363.97 37,088,581.30
- 5 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
2018 2019 2020
3,012,403.20 3,112,435.64
1,734,860.65 2,239,233.54
2,165.19 -11.20
984,383.28 871,864.74
- 290,994.08 1,348.56
290,994.08 1,348.56
- 290,994.08 1,348.56
2018
2019 420FC0252 2019 -2020
2021 0075
〕 13% 〕 7% 〕 3% 〕 2%
5
2018 4 26
GE 8MWp
6
- 6 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
8
7,110,981.60
36,488,603.01
107,374.34
86,150.44
43,793,109.39
6,704,528.09
6,704,528.09
37,088,581.30
2021 0075
③ :
1 2020/12/01 331,444.04 331,444.04
331,444.04 331,444.04
- 7 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
36,023,787.70 47
105,490.00 1
18,109.35 3
36,488,603.01 51
《
③
1 2018 7 23
HTWBTZ420110000201800012 3,600.00
: GE 8NWp
: 80% 100%
③
③
- 8 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
2020 12 31
③ 、
8
1 46
2 5
3 2018 10 26
4 2018 12 29
5 709
6 12
7 2006 306
8 91
9 < > 1992 36
10 2006
274
11 2009
941
- 9 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
12 2013 64
13 86
14 691
15 2016 36
16 2019
39
17
32
18
1 2017 43
2 2017 30
3 —— 2018 36
4 —— 2018 35
5 —— 2017 33
6 —— 2018 37
7 —— 2019 35
8 —— 2018 38
9 —— 2017 35
10 —— 2017 37
11 —— 2017 38
12 —— 2017 39
13 2017 46
14 2017 47
15 2017 48
16 8 —— 2019 39
17 2018 218
1
- 10 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
2
3
4
1
2
2021 0076
3
4
5
6 、
7
8
③ ①
- 11 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
——
③
③
〕
。
〕
1
- 12 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
2
〕
=
+ +
E=BD+W+F 1
E
B
D
W
F
B = P + Ci 2
P
ΣCi
n
Ri Rn +1
P= + 3
i =1 (1 + r ) r (1 + r ) n
i
Ri i
Ri= + / + - -
r 〕 WACC
- 13 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
n
- .
WACC = Re + /0(1 3) × 4
.+- .+-
Re—— 〕
Rd—— 〕
E——
D——
T—— 〕
25
2044 4
1
2
3
4 -
- 14 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
5 -
1
③
〕
= × 〕
= + + + +
-
6
= -
〕
〕
〕 〕×40% 〕×60%
= × 〕
2
③
= 1+ 2+ 3 /3
- 15 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
= × × ×
× × × ×
③
6
7 -
8
③
③ 〔
③
③
、
- 16 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
③
③
①
①
1
2
- 17 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
3
1
2 〕 〕 〕
3
4
1
2
、
3
1
1
2
3
4
- 18 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
5
6
7
8
9
2
1
2
3
4
5
6 63
“ ”
1
2
- 19 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
2020 3 31
4,379.31 670.45 3,708.86
3,642.81 670.45
2,972.36 736.50 〕 19.86 %
A B C=B-A D=C/A×100%
1 711.10 711.10 - -
2 3,668.21 2,931.71 -736.50 -20.08
3 3,648.86 2,912.35 -736.51 -20.18
4 10.74 10.74 - -
5 8.62 8.62 - -
6 4,379.31 3,642.81 -736.50 -16.82
7 670.45 670.45 - -
8 670.45 670.45 - -
9 3,708.86 2,972.36 -736.50 -19.86
3,708.86
1,620.00 2,088.86
〕 56.32%
- 20 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
1,620.00 2,972.36
1,352.36
1,620.00
1
2
3
4
5
③
③
③
- 21 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
③
2018 7 23
HTWBTZ420110000201800012 3,600.00
: GE 8NWp
: 80% 100%
③
1 、
③
2
3
②
③
4
- 22 -
69 200002
021-63391088 021-63391116
valuer@yinxincpv.com
5
6
③
7 》 ③
》 ③ ③
》 ③
》 ③
8
11
- 23 -
69 200002
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valuer@yinxincpv.com
12
13
1
2
3
4
1
2
3
2020
- 24 -
69 200002
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valuer@yinxincpv.com
12 31 2021 12 30
2021 04 30
- 25 -
69 200002
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valuer@yinxincpv.com
1
2
3
4
5
6
7
8
9
10
11
12
- 27 -