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                        “

                                 (                           )             “
(                                            )                              2017
        (                                                                                )
                                                         (                      )
            (                            )                                      (
    )                                                                               “
                (                                )               “                          2017
                        (    )       (                                )
                    (                            )                          (
    )                                                                 “
                                                                                     (
                )




(                                                    )                                              (   )




                                                         1
(   )



(   )




        2
1.1   2017 9      1                                                                           <2017
                               (    )>                                     <2017
                                   >
      2017                                                                    2017




1.2   2017 9      1                                                                           <2017
                               (    )>                                     <2017
                                   >                         <      2017
                                       >                                      “
                           2017


1.3   2017 9      1


                                   2017                                               2017
                       (   )


1.4   2017 9      2                                                      “
       2017                                                                2017      9   14
                                           2017
                                                                                               2017


                                            2017     9   2   2017    9     11                    ”




1.5   2017    9   19               2017
      <2017                            (      )>                                     <2017
                                             >


                                                 3
              2017


1.6    2017   9     19
                                                                2017
                                                2017   9   19                 89
          287




1.7    2017   9     19


                                                                               89




                                                                 2017    9   19
        89                      287


1.8    2017 9      19
                                                                             2017   9   19
              89                      287


1.9    2017 11 4                                                        “
              2017                                                                           89
                          287


1.10   2018 8      7


                   2018




1.11   2018 8      7




1.12   2018 8      7



                                            4
2.1   2018 5      2               2017                                     10
             5.00     (       )                       10           4
                 227,178,000


2.2                       (       )




(1)


      P   P0÷(1 n)


            P                                        P0                         n
                                                               (
                                         )


(2)


      P   P0-V


            P0                                       V                 P
                                                 P         1




                                             5
      P   (P0-V)   (1   n)=(22.12-0.5)   (1+0.4)=15.44 /




3.1




3.2                             2017     9   19                         10,000
          22.12    /
               2017                                        10               5.00     (       )
                                  10         4       2018       5   2




                                                       14,000                    15.44   /




      (            )



                                             6