SlideShare a Scribd company logo

technic.pdf

•
•
P
PawachMetharattanara

ก

Investor Relations
1 of 240
Download to read offline
­»¦´¥Å¥¦´Š­·œ´œšr
-i- ‡Î µœÎ µ ®œ´Š­º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Á¨n¤œ¸Ê Áž}œŸ¨Šµœš¸É‡»–­»¦´¥ ō¥¦´Š­·œ´œšr Á ¸¥œ ¹Êœ ‹µ„®œ´Š­º° ªµ¦­µ¦ ¨³Á°„­µ¦ ˜nµŠÇ®¨µ¥Á¨n¤¦ª¤Á oµ„´ž¦³­„µ¦–r °Š‡»–­»¦´¥Á°Šš¸ÉčoÁ‡¦ºÉ°Š¤º°Á®¨nµœ¸ÊÄœ¸ª·˜„µ¦šÎµŠµœž¦³‹Îµª´œ¤µÁ„º°že ˜oœŒ´ °Š®œ´Š­º°Á¨n¤œ¸Ê Á ¸¥œ ¹ÊœÃ—¥ÄoÁª¨µªnµŠÁšnµš¸É‡»–­»¦´¥‹³¡°®µÅ—o Ž¹ÉŠÁ¤ºÉ°¦ª¤Á oµ„´Áª¨µš¸ÉčoÄœ„µ¦­¦oµŠ¦¼ž „¦µ¢˜iµŠÇ¨³„µ¦‹´—¦¼žÁ¨n¤Â¨oª„ªnµ®œ´Š­º°Á¨n¤œ¸Ê‹³Á­¦È‹­¤¼¦–r„ÈčoÁª¨µ„ªnµže¨³Áž}œš¸ÉœnµÁ­¸¥Ä‹°¥nµŠ¥·ÉŠš¸É®¨´Š ‹µ„®œ´Š­º°Á¨n¤œ¸Ê˜¸¡·¤¡r°°„Áž}œ¦¼žÁ¨n¤Å—o‡¦´ÊŠÂ¦„Ťnœµœ‡»–­»¦´¥„ÈÁ­¸¥¸ª·˜¨Š—oª¥Ã¦‡¤³Á¦ÈŠÄœ˜n°¤œÎʵÁ®¨º°Š Äœ„µ¦Á ¸¥œ®œ´Š­º°Á¨n¤œ¸Ê ‡»–­»¦´¥¤¸ª´˜™»ž¦³­Š‡r®¨´„‡º° ˜o°Š„µ¦‹³ÁŸ¥Â¡¦n‡ªµ¤¦¼ošµŠ—oµœ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ °¥nµŠ¤¸¦³ Á¡ºÉ°Ä®oœ´„¨Šš»œ­µ¤µ¦™œÎµÅžÄoÅ—o°¥nµŠ™¼„ª·›¸ ×¥¡¥µ¥µ¤°›·µ¥™¹Šª·›¸Â¨³Âœª‡ªµ¤‡·—Äœ„µ¦ª·Á‡¦µ³®r šµŠÁš‡œ·‡¦¼žÂ˜nµŠÇ Á¡ºÉ°Áž}œ„µ¦­ºš°—Á‹˜œµ¦¤¥r °Š‡»–­»¦´¥Äœ„µ¦š¸É‹³ÁŸ¥Â¡¦n‡ªµ¤¦¼o—oµœ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Ä®o„n­´Š‡¤ÄœªŠ„ªoµŠ ¤‹Á°¸Á°ÈœÂ°¤Ã¦Á°ÁŽ¸¥‹¹ŠÅ—oœÎµÁ°µ˜oœŒ´®œ´Š­º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Á¨n¤œ¸Ê°°„ÁŸ¥Â¡¦nÄœ¦¼ž(OHFWURQLFVÁ¡ºÉ° Ä®oœ´„¨Šš»œÂ¨³Ÿ¼o­œÄ‹š´ÉªÅž Å—oœÎµÄoÄœ„µ¦«¹„¬µÁ¡·É¤Á˜·¤ ץŤnÅ—o‡·—¤¼¨‡nµÄ—Ç š´ÊŠœ¸Ê Å—o¦´‡Îµ°œ»µ˜‹µ„£¦¦¥µ °Š ‡»–­»¦´¥Á¦¸¥¦o°¥Â¨oª ®œ´Š­º°Á¨n¤œ¸Ê­ÎµÁ¦È‹¨ŠÅ—o—oª¥‡ªµ¤¦nª¤¤º° °Š¡¸Éœo°Š$67š»„Çšnµœš¸Énª¥­œ´­œ»œÂ¨³Ä®o„ε¨´ŠÄ‹Äœ„µ¦‹´—šÎµÁž}œ°¥nµŠ—¸ ×¥ÁŒ¡µ³°¥nµŠ¥·ÉŠ ‡»–ª¦µ£¦–r ª·¼¨‡–µ¦´„¬r Ÿ¼oŽ¹ÉŠÄoÁª¨µÂ¨³‡ªµ¤°—šœ°¥nµŠ¤µ„Äœ„µ¦˜¦ª‹šµœ˜oœŒ´°¥¼n®¨µ¥ ¦°™oµ®œ´Š­º°Á¨n¤œ¸Ê‹³¤¸­nªœ—¸°¥¼noµŠ¡ª„Á¦µ„È °¤°‡ªµ¤—¸œ¸ÊÄ®o„n‡ªµ¤˜´ÊŠÄ‹‹¦·Š °Š‡»–­»¦´¥­nªœ‡ªµ¤Ÿ·—¡¨µ—š¸É °µ‹Á„·— ¹Êœœ´Êœ¡ª„Á¦µ °œo°¤¦´Â¨³¥·œ—¸¦´¢{Š‡Îµ˜·¤‹µ„š»„šnµœÁ­¤°
-ii- This page is intentionally left blank
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -iii- ­µ¦´ ‡Î µœÎ µ L ­µ¦´ LLL šš¸É î¤Ã¦Š š§¬‘¸—µª 'RZ7KHRU ž¦³Ã¥œr °Š„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ o°Á­¸¥Â¨³‡ªµ¤Á oµÄ‹Ÿ·—µŠž¦³„µ¦Á„¸É¥ª„´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ¤¸°³Å¦Äœ®œ´Š­º°Á¨n¤œ¸Ê šš¸É ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ „µ¦­¦oµŠKDUW ¦¼žÂŠnµ¥Ç„´ÂšnŠ%DU 8SVLGH5HYHUVDO 5 ¨³'RZQVLGH5HYHUVDO 5 .H8SVLGH5HYHUVDO .5 ¨³.H'RZQVLGH5HYHUVDO .5 ORVHRQ+LJK 2+ ¨³ORVHRQ/RZ 2/ +LJKWR/RZORVH6LJQDO +/ ¨³/RZWR+LJKORVH6LJQDO /+ +LJKV + ¨³/RZV / ÂœªÃœo¤ 8SWUHQG 'RZQWUHQG 6LGHZDV Á­oœÂœªÃœo¤ 8SWUHQG/LQH 'RZQWUHQG/LQH 6LGHZDV ‡ªµ¤´œÂ¨³„µ¦—¸—˜´ª 6ORSHDQG5HWUDFHPHQW nªŠÁª¨µ Âœª¦´Â¨³Âœª˜oµœ ­nŠšoµ¥ šš¸É ¦¼žÂ„µ¦Áž¨¸É¥œÂœªÃœo¤ 5HYHUVDO3DWWHUQV ®´ªÂ¨³Å®¨n +HDG 6KRXOGHUV 7ULSOH7RSV¨³7ULSOH%RWWRPV
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -iv- 'RXEOH7RSV¨³'RXEOH%RWWRPV 6DXFHU 96KDSH šš¸É ¦¼žÂ˜n°ÁœºÉ°Š RQWLQXRXV3DWWHUQV 7ULDQJOHV 6PPHWULF7ULDQJOHV $VFHQGLQJ7ULDQJOHV 'HVFHQGLQJ7ULDQJOHV %URDGHQLQJ)RUPDWLRQ )ODJVDQG3HQQDQWV :HGJH 5HFWDQJOH *DSV RPPRQ*DS %UHDNDZD*DS 5XQDZD*DS ([KDXVWLRQ*DS ­nŠšoµ¥ šš¸É Ÿœ£µ¡3RLQW )LJXUH „µ¦­¦oµŠÂŸœ£µ¡3RLQWDQG)LJXUH ¦¼žÂ­´µ–ŽºÊ°Â¨³­´µ– µ¥ Á­oœÂœªÃœo¤ 7UHQG/LQH Ážjµ®¤µ¥¦µ‡µ 3ULFH7DUJHW +RUL]RQWDORXQW 9HUWLFDORXQW šš¸É ¦³‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É 0RYLQJ$YHUDJHV ­´µ–ŽºÊ°­´µ– µ¥ „µ¦Äo‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É˜´ªž¦³„°„´œ 'RXEOH0RYLQJ$YHUDJHURVVRYHU ¦¼žÂ °Š‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É 6LPSOH0RYLQJ$YHUDJH 60$ /LQHDU:HLJKWHG0RYLQJ$YHUDJH :0$ ([SRQHQWLDO0RYLQJ$YHUDJH (0$
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -v- ¦³¥³Áª¨µ®¦º°‹Îµœªœª´œš¸ÉčoÄœ„µ¦‡Îµœª–0RYLQJ$YHUDJH „¨¥»š›r Âœª¦´Âœª˜oµœ Á­oœ‡¼n œµœ °Š‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É 0RYLQJ$YHUDJH%DQGRUKDQQHO „µ¦Á‡¨ºÉ°œ¥oµ¥Á­oœ‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É˜µ¤Âœªœ°œ 'LVSODFHG0RYLQJ$YHUDJH 3ULFH2VFLOODWRU 0RYLQJ$YHUDJHRQYHUJHQFH'LYHUJHQFH 0$' 3DUDEROLF7LPH3ULFH6VWHP 6WRSDQG5HYHUVH 6$5 8SWUHQG 'RZQWUHQG šš¸É Á‡¦ºÉ°Š¸Êš¸ÉÁ„¸É¥ª o°Š„´¦µ‡µ 3ULFH,QGLFDWRUV ‡ªµ¤Á oµÄ‹ÁºÊ°Š˜oœªnµ—oª¥2YHUERXJKW2YHUVROGRQYHUJHQFH¨³'LYHUJHQFH „’š´ÉªÅžÄœ„µ¦°nµœ‡nµ,QGLFDWRUV 0RPHQWXP¨³5DWHRIKDQJH „µ¦°nµœ‡nµ0RPHQWXP 5HODWLYH6WUHQJWK,QGH[ 56, 5HODWLYH0RPHQWXP,QGH[ 50, 6WRFKDVWLF :LOOLDPuV5 .67®¦º°6XPPHG5DWHRIKDQJH,QGH[ 'LUHFWLRQDO0RYHPHQW6VWHP '06 3OXV'LUHFWLRQDO0RYHPHQW 3'0 0LQXV'LUHFWLRQDO0RYHPHQW 0'0 ¨³7UXH5DWH 3',0',¨³$'; ŽºÊ°Á¤ºÉ°Å¦ µ¥Á¤ºÉ°Å¦ 8SWUHQG 'RZQWUHQG šš¸É —´œ¸ª´—‡ªµ¤Â„ªnŠÄœž¦·¤µ–„µ¦ŽºÊ° µ¥ 9ROXPH,QGLFDWRUV ¨´„¬–³š´ÉªÅž °Š°»ž­Š‡r¨³°»žšµœ °Š®»oœ ¡§˜·„¦¦¤š´ÉªÅžÁ„¸É¥ª„´‡ªµ¤­´¤¡´œ›r¦³®ªnµŠž¦·¤µ–„µ¦ŽºÊ° µ¥„´¦µ‡µ 2Q%DODQFH9ROXPH 2%9 KDLNLQ$FFXPXODWLRQ'LVWULEXWLRQ +$,.,1 3ULFH 9ROXPH7UHQG 397
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -vi- 9ROXPH2VFLOODWRU 9ROXPH5DWHRIKDQJH šš¸É Á‡¦ºÉ°Š¸Ê£µª³˜¨µ— 0DUNHW,QGLFDWRUV $GYDQFH'HFOLQH/LQH $'/,1( 2YHUERXJKW2YHUVROG,QGH[ 2%26 0FOHOODQ2VFLOODWRU 02 7UDGLQJ,QGH[ 75,1 ®¦º°$UPuV,QGH[ 0DUNHW7KUXVW¨³7KUXVW2VFLOODWRUV šš¸É ˜´ªÁ¨ °Š¢dÝœµ¸É¨³„µ¦ž¦³¥»„˜rčo )LERQDFFL1XPEHUVDQG$SSOLFDWLRQV ¢dÝœµ¸É‡º°Ä‡¦ ˜´ªÁ¨ °Š¢dÝœµ¸É )LERQDFFL1XPEHUV ‡»–­¤´˜·µŠž¦³„µ¦ °Š¨Îµ—´˜´ªÁ¨ ¢dÝœµ¸É ­´—­nªœš°Š‡Îµ„´­™µž{˜¥„¦¦¤Â¨³›¦¦¤µ˜· ¤µšÎµ‡ªµ¤Á oµÄ‹Á„¸É¥ª„´„µ¦ž¦´“µœÂ¨³„µ¦˜n°˜´ª„´œ„n°œ „µ¦‡Îµœª–Ážjµ®¤µ¥„µ¦ž¦´“µœ )LERQDFFL5HWUDFHPHQW „µ¦ª´—Ážjµ®¤µ¥„µ¦˜n°˜´ª )LERQDFFL([WHQVLRQ ˜´ª°¥nµŠ‹µ„ °Š‹¦·Š o°‡ª¦¦³ª´ŠÁ„¸É¥ª„´„µ¦Äo)LERQDFFL5HWUDFHPHQW¨³([WHQVLRQ šš¸É š§¬‘¸‡¨ºÉœ °Š°¸Á¨¸¥˜ (OOLRW:DYH7KHRU ¦¼žÂ¡ºÊœ“µœ ¡§˜·„¦¦¤Â¨³‡ªµ¤®¤µ¥ °ŠÂ˜n¨³‡¨ºÉœ „µ¦œ´‡¨ºÉœ „µ¦˜n°˜´ª ¦¼žÂ‡¨ºÉœž¦´˜´ª ¦¼žÂ„µ¦ž¦´˜´ª°¥nµŠŠnµ¥ ¦¼žÂŽ·„ÂŽ„ =LJ]DJV )ODWV ,UUHJXODUV 7ULDQJOHV 'HVFHQGLQJ7ULDQJOH 6PPHWULFDO7ULDQJOH ([SDQGLQJ7ULDQJOH
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -vii- ¦¼žÂŽ´Žo°œ 'RXEOH7KUHHV 7ULSOH7KUHHV Ážjµ®¤µ¥Áª¨µ 7LPH*RDO'DV Ážjµ®¤µ¥¦µ‡µ 3ULFH2EMHFWLYHV šš¸É š§¬‘¸Â„œœr*DQQuV7KHRU DUGLQDO6TXDUH Áª¨µÂ®nŠ„µ¦Áž¨¸É¥œš·«šµŠ Áª¨µ 7LPH ¦µ‡µ 3ULFH *HRPHWULF$QJOHV *DQQ„´*HRPHWULF$QJOHV *DQQuV5HWUDFHPHQW5XOH œ·¥µ¤ „µ¦­¦oµŠ5HWUDFHPHQW=RQH „µ¦Ÿ­¤Ÿ­µœ3HUFHQWDJH5HWUDFHPHQW„´*HRPHWULF$QJOH/LQH šš¸Éš§¬‘¸‡¨ºÉœª´’‹´„¦ FOHV7KHRU °Š‡rž¦³„° °Š°œ»„¦¤Áª¨µ 7LPH6HULHV'HFRPSRVLWLRQ °Š‡rž¦³„° °Šª´’‹´„¦ FOHRPSRQHQWV ®¨´„„µ¦¦ª¤˜´ª °Šª´’‹´„¦ 3ULQFLSOHRI3URSRUWLRQDOLW 3ULQFLSOHRI6XSHUSRVLWLRQ 3ULQFLSOHRI5HVRQDQFH 3ULQFLSOHRI6QFKURQLFLW 3ULQFLSOHRI+DUPRQLFLW „µ¦¦ª¤˜´ª °Š‡¨ºÉœª´’‹´„¦„´¦¼žÂšµŠÁš‡œ·‡ +HDGDQG6KRXOGHUV 'RXEOH7RS ¦¼žÂž¦³Á£šRQWLQXRXV3DWWHUQV ¦¼žÂž¦³Á£š(OOLRWW:DYH „µ¦ª´—‡¨ºÉœª´’‹´„¦ „µ¦ª´——oª¥ª·›¸„µ¦šµŠ­™·˜· „µ¦ª´——oª¥­µ¥˜µž¦³„°„´„µ¦‡Îµœª–°¥nµŠŠnµ¥Ç
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -viii- ®¨´„„µ¦ª´—‡¨ºÉœª´’‹´„¦°¥nµŠŠnµ¥Ç „µ¦ª´——oª¥­µ¥˜µ°¥nµŠŠnµ¥ÇÁš¸¥„´„µ¦ª´—šµŠ­™·˜· „µ¦Äoª´’‹´„¦„´Á‡¦ºÉ°Š¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡°ºÉœÇ ‡¨ºÉœª´’‹´„¦„´‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É ª´’‹´„¦„´0RPHQWXP ª´’‹´„¦„´5HODWLYH6WUHQJWK,QGH[ 56, ª´’‹´„¦„´6WRFKDVWLF šš¸É „µ¦ª·Á‡¦µ³®rŸœ£¼¤·ÂÂšnŠÁš¸¥œÁºÊ°Š˜oœ ,QWURGXFWLRQWR-DSDQHVHDQGOHVWLFNKDUWLQJ „µ¦Á ¸¥œ„¦µ¢ÂÂšnŠÁš¸¥œ Áš¸¥œ˜´—®´ª %RVX 'RMLºÉ°‹»q¤‹·Ì¤Â˜n‡ªµ¤­Îµ‡´¤®µ«µ¨ šš¸É ¦¼žÂ„µ¦Áž¨¸É¥œš·«šµŠ °Š„µ¦ª·Á‡¦µ³®rÂšnŠÁš¸¥œ DQGOHVWLFN5HYHUVDO3DWWHUQV °»ž¦µ‡µÁ˜È¤—ªŠ (QJXOILQJ3DWWHUQ Á¤‰‡¦¹Ê¤¢jµÂ¨³ŸnµÁ­oœ„¨µŠ 'DUNORXGRYHUDQG3LHUFLQJ/LQH šnŠ¦n¤ 8PEUHOOD/LQHV ‰o°œ +DPPHU ‡œÂ ªœ‡° +DQJLQJ0DQ —µªž¦³„µ¥¡§„¬r¨³—µªž¦³‹ÎµÁ¤º°Š 0RUQLQJ6WDUDQG(YHQLQJ6WDU —µª˜„¨³‰o°œ„¨´®´ª 6KRRWLQJ6WDUDQG,QYHUWHG+DPPHU Á­oœ±µ¦µ¤· +DUDPL/LQHV 7ZHH]HU7RSDQG7ZHH]HU%RWWRP Á­oœ˜¸Ã˜o RXQWHUDWWDFN/LQHV ®°‡°¥ 7RZHU7RSDQG7RZHU%RWWRP °¸„µ­°Š˜´ª 7ZRURZV °¸„µ­µ¤˜´ª 7KUHHURZV ¦¼žÂ7UHQG5HYHUVDO°ºÉœÇ šš¸É ¦¼žÂ˜n°ÁœºÉ°ŠÄœ„µ¦ª·Á‡¦µ³®ršnŠÁš¸¥œ DQGOHVWLFNRQWLQXRXV3DWWHUQV ®œoµ˜nµŠšµŽ¼„· 7DVXNL*DS +LJK3ULFHDQG/RZ3ULFH*DSSLQJ3ODV
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -ix- *DSSLQJ6LGH%6LGH:KLWH/LQHV ¹Êœ­µ¤¨Š­µ¤ 5LVLQJ7KUHHDQG)DOOLQJ7KUHH ­µ¤š®µ¦ µª„oµªÅž jµŠ®œoµ 7KUHH$GYDQFLQJ:KLWH6ROGLHUV Á­oœÂnŠ°µ–µÁ ˜ 6HSHUDWLQJ/LQHV šš¸É „¦³ªœ¥»š›r 6WUDWHJLHV ¦¦–µœ»„¦¤ 5HIHUHQFHV
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -x- This page is intentionally left blank
-- šš¸É šnµœŸ¼o°nµœ®¨µ¥šnµœ‡Š‹³Á‡¥Å—o¥·œ‡Îµªnµ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¤µ°¥nµŠ·œ®¼ µŠ šnµœ°µ‹‹³Á‡¥ÄoÁ‡¦ºÉ°Š¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¤µoµŠ µŠšnµœ°µ‹‹³ÄoÁž}œ Á‡¦ºÉ°Š¤º°®µ„·œÄœ„µ¦˜´—­·œÄ‹ŽºÊ° µ¥®»oœ°¥¼nš»„ª´œ ˜n™oµ™µ¤ªnµ„µ¦ª·Á‡¦µ³®ršµŠ Áš‡œ·‡‡º°°³Å¦ ¤¸‹»—„εÁœ·— ¹Êœ¤µ‹µ„Âœª‡ªµ¤‡·—°³Å¦ ¨³¤¸‡ªµ¤­Îµ‡´°¥nµŠÅ¦ µŠš¸°µ‹‹³˜o°Š‡·—„´œœµœ®œn°¥ Á¡¦µ³Á¦µÄoÁ‡¦ºÉ°Š¤º°Á®¨nµœ¸Ê„´œ‹œ„¨µ¥Áž}œ‡ªµ¤ Á‡¥·œ¤µ„„ªnµš¸É‹³‡oœ®µ‡Îµ˜°¡ºÊœ“µœÁ®¨nµœ¸Ê „µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ Áž}œª·›¸„µ¦«¹„¬µ¡§˜·„¦¦¤ °Š®»oœ ×¥°µ«´¥¦¼ž„¦µ¢Á¡ºÉ°‹»—ž¦³­Š‡rÄœ„µ¦‡µ—„µ¦–rÂœª Ãœo¤ °Š¦µ‡µÄœ°œµ‡˜œ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡‹³«¹„¬µ¡§˜·„¦¦¤ °Š®»oœ‹µ„¦µ‡µÂ¨³ž¦·¤µ–„µ¦Ž¸Ê° µ¥ ®¦º°¤¼¨‡nµ „µ¦ŽºÊ° µ¥ Ž¹ÉŠ™º°Å—oªnµÁž}œÂ®¨nŠ o°¤¼¨š¸É­Îµ‡´­Îµ®¦´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ °¥nµŠÅ¦„Șµ¤ „¦³ªœ¥»š›rÄœ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡œ¸Ê čnªnµ°¥¼n—¸Ç‹³´´˜· ¹ÊœÃ—¥Å¤n¤¸®¨´„„µ¦ ˜nšo‹¦·ŠÂ¨oª ¤´œ¤¸ Âœª‡·—®¦º°‡ªµ¤ÁºÉ°š¸É„µ¦ª·Á‡¦µ³®rœ¸Ê°·Š°¥¼nž¦³„µ¦‡º° ¡§˜·„¦¦¤ °Š¦µ‡µ®»oœš¸É­—Š°°„¤µœ´Êœ Å—o—¼—Ž´Á®˜»„µ¦–rš»„­·ÉŠš»„°¥nµŠš¸ÉÁ„·— ¹ÊœÁ°µÅªo¨oª œ´Éœ®¤µ¥‡ªµ¤ ªnµ Á¤ºÉ°Á„·—„µ¦Áž¨¸É¥œÂž¨ŠšµŠ—oµœÁ«¦¬“„·‹ „µ¦Á¤º°Š ²¨² ¥n°¤­nŠŸ¨„¦³š˜n°°»ž­Š‡r¨³°»žšµœÄœ®»oœ Ž¹ÉŠÂœnœ°œ ¥n°¤‹³¤¸Ÿ¨˜n°¦µ‡µÁœºÉ°Š‹µ„¦µ‡µ™¼„„ε®œ— ¹Êœ‹µ„°»ž­Š‡r¨³°»žšµœ °Š®»oœÁ¡¦µ³Œ³œ´Êœ™oµ„µ¦Áž¨¸É¥œÂž¨Šš¸ÉÁ„·— ¹ÊœÁž}œÅžÄœÁ·Šª„¥n°¤šÎµÄ®oÁ„·—°»ž­Š‡r¤µ„„ªnµ°»žšµœ®¦º°¡¼—Šnµ¥ÇªnµÂ¦ŠŽºÊ°¤µ„„ªnµÂ¦Š µ¥„È‹³­nŠŸ¨Ä®o¦µ‡µ¤¸ „µ¦ž¦´˜´ª­¼Š ¹Êœ ÄœšµŠ„¨´„´œ ®µ„„µ¦Áž¨¸É¥œÂž¨Šš¸ÉÁ„·— ¹ÊœÁž}œÅžÄœÁ·Š¨ ¥n°¤šÎµÄ®oÁ„·—°»žšµœ¤µ„„ªnµ°»ž­Š‡r ¦Š µ¥¤µ„„ªnµÂ¦ŠŽºÊ° „È‹³­nŠŸ¨Ä®o¦µ‡µ¤¸„µ¦ž¦´˜´ª¨Š °¥nµŠÅ¦„È—¸‹µ„š¸É„¨nµª¤µÂ¨oª oµŠ˜oœ o°¤¼¨­Îµ‡´š¸Éœ´„ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ÄoÄœ„µ¦ª·Á‡¦µ³®r‹³¡»nŠÁžjµÅžš¸É ¦µ‡µÂ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥ ‹¹Š—¼Á®¤º°œªnµœ´„ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ ¦nœ °Á ˜ °Š„µ¦«¹„¬µ „µ¦ª·Á‡¦µ³®r ž{‹‹´¥¡ºÊœ“µœ )XQGDPHQWDO $QDOVLV ×¥„¦³Ã——Åž«¹„¬µš¸É o°­¦»ž °ŠŸ¨„¦³šÁ¨¥ ¨³Ä®o‡ªµ¤­œÄ‹„´­µÁ®˜» œo°¥¤µ„Ánœ™oµ¦µ‡µž¦´˜´ª­¼Š ¹Êœ‹³®¤µ¥™¹Š„µ¦Áž¨¸É¥œÂž¨ŠÄœž{‹‹´¥˜nµŠÇ‡n°œ oµŠÁž}œÅžÄœÁ·Šª„˜n™oµ®µ„ªnµ¦µ ‡µ¤¸„µ¦ž¦´˜´ª¨Š „È®¤µ¥‡ªµ¤ªnµ „µ¦Áž¨¸É¥œÂž¨ŠÄœž{‹‹´¥˜nµŠÇ‹³‡n°œÅžÄœš·«šµŠÁ·Š¨ Äœ –³š¸É„µ¦ª·Á‡¦µ³®r ž{‹‹´¥¡ºÊœ“µœ‹³Áž}œ„µ¦Á‹µ³¨¹„¨ŠÅžÄœ­µÁ®˜»š¸ÉÁž}œÂ¦ŠŸ¨´„—´œ˜n°°»ž­Š‡r¨³°»žšµœš¸ÉÁ„·— ¹ÊœÂ˜nš´ÊŠª·›¸˜nµŠ„Ȥ»nŠÁ oµ ŞŠž{®µÄœÁ¦ºÉ°Šš·«šµŠ °Š¦µ‡µ®»oœš¸É‡ª¦‹³Áž}œÁ®¤º°œÇ„´œ—´Šœ´ÊœÁ¤ºÉ°šnµœŸ¼o°nµœš¦µ™¹ŠÂœª‡·—œ¸Ê¨oª®µ„¤¸‡œ¤°Š ªnµ „µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ÁºÉ°™º°Å¤nÅ—ošnµœ„È°¥nµÅžªiµÁ µÁ®¨nµœ´ÊœÁ¨¥‡¦´ Á¡¦µ³Á µ°µ‹‹³Å¤nš¦µÂœª‡·—š¸É°¥¼n ÁºÊ°Š®¨´Š„ÈÁž}œÅ—o
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- ¦µ‡µ‹³¥´Š‡ŠÁ‡¨ºÉ°œÅ®ªÅž˜µ¤ÂœªÃœo¤Á—·¤ ‹ª„¦³š´ÉŠÂœªÃœo¤Á—·¤®¤—¨Š‹¦·ŠÇ o°‡ªµ¤ oµŠ˜oœ¤¸‡ªµ¤ ­¤¼¦–rÄœ˜´ªÁ°Š°¥¼n¨oªÂ˜nÁ¡ºÉ°Ä®oŸ¼o°nµœµŠšnµœš¸É¥´ŠÅ¤nš¦µ‡ªµ¤®¤µ¥ °ŠÂœªÃœo¤¤¸‡ªµ¤„¦³‹nµŠÄœ o°œ¸Ê¤µ„ ¹Êœ °¥µ„‹³Ä®oŸ¼o°nµœœ¹„Ž³ªnµšnµœÅ—oÃ¥œ¨¼„ždŠž°Š ¹ÊœÄœÅžÄœ°µ„µ« ×¥š¸É¨¼„ždŠž°Š™º°ªnµÁž}œ¦µ‡µ®»oœ„Ȩoª„´œ ‹³Á®ÈœÅ—o ªnµ¨¼„ždŠž°Šœ´Êœ‹³Á‡¨ºÉ°œ˜´ª ¹ÊœÅžÁ¦ºÉ°¥Ç˜µ¤š·«šµŠ„µ¦Ã¥œÂ¨³Â¦Š­nŠ Ã¥œ ˜°œÂ¦„˜nÁ¤ºÉ°Áª¨µŸnµœÅžÂ¦Š­nŠ‹³ ‡n°¥ÇŸnª¨Š —oª¥Á®˜»Ÿ¨°³Å¦„ȨoªÂ˜n „µ¦Á‡¨ºÉ°œ˜´ª °Š¨¼„ždŠž°Šœ´Êœ ‹³Á¦·É¤oµ¨ŠÁ¦ºÉ°¥Ç ‹œ„¦³š´ÉŠÂ¦Š­nŠœ´Êœ®¤—¨Š ¨¼„ždŠž°Š„È‹³¦nªŠ®¨nœ¨Š¤µ Ž¹ÉŠ­£µ¡„µ¦Á‡¨ºÉ°œ˜´ª °Š¨¼„ždŠž°Š œ´˜´ÊŠÂ˜nÃ¥œ‹œ™¹Š„n°œš¸É‹³®¨nœ¨Š¤µ ‹³°¥¼nÄœš·« šµŠ®¦º°ÂœªÃœo¤ µ ¹ÊœÂ¨³‹³Á¦·É¤Áž¨¸É¥œš·«šµŠ¤µÁž}œ µ¨Š ˜°œ¨¼„ždŠž°ŠÁ¦·É¤˜„¨Š ®¨´Š‹µ„š¸ÉÂœªÃœo¤ µ ¹Êœ®¤—¨Š ¨oª ¦¼žÂ®¦º°¡§˜·„¦¦¤ °Š®»oœš¸ÉÁ„·— ¹ÊœÄœ°—¸˜ ­µ¤µ¦™š¸É‹³œÎµ¤µÄoÅ—oÄœž{‹‹»´œÂ¨³°œµ‡˜ ®¦º°š¸ÉµŠšnµœ °µ‹Á¦¸¥„ªnµž¦³ª´˜·«µ­˜¦rŽÎʵ¦°¥˜´ª¤´œÁ°ŠÁœºÉ°Š‹µ„„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡°·Š°¥¼nœ¦µ‡µÂ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥ 9ROXPH Ž¹ÉŠÁž}œ˜´ª­³šo°œŸ¨­»š›· °ŠÂ®¨nŠ o°¤¼¨ LQIRUPDWLRQVHW Äœ„µ¦‡µ—„µ¦–rŽ¹ÉŠ¦µ‡µÂ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥œ¸Ê Áž}œ˜´ªnŠ°„‹·˜ª·š¥µÄœÂŠn °Š‡ªµ¤„¨oµ®¦º°‡ªµ¤„¨´ª²¨²Ž¹ÉŠÅ¤nªnµ¥»‡Ä—­¤´¥Ä—¦¦—µ‡ªµ¤š´ÊŠ®¨µ¥ oµŠ˜oœ„ÈŤn Á‡¥Áž¨¸É¥œ—´Šœ´Êœ¦¼žÂš¸ÉÁ„·— ¹ÊœÄœ°—¸˜ š¸É­³šo°œ‹·˜ª·š¥µÄœnªŠÁª¨µœ´Êœ ‹¹Š¥´Š‡Š­µ¤µ¦™š¸É‹³œÎµ¤µÄoÅ—oÄœž{‹‹»´œ ¦ª¤™¹Š„µ¦Ä®oÁŠºÉ°œÅ ®¦º°‡ªµ¤œnµ‹³Áž}œ­Îµ®¦´š·«šµŠ„µ¦Á‡¨ºÉ°œÅ®ª °Š®»oœš¸É‹³Á„·— ¹ÊœÄœ°œµ‡˜ š´ÊŠ o° oµŠ˜oœœ´Êœ™º°Å—oªnµÁž}œÂœª‡·—®¦º°‡ªµ¤ÁºÉ°¤¼¨“µœš¸ÉÁž}œ‹»—„εÁœ·— °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡—´Šœ´ÊœµŠ‡¦´ÊŠ Á¤ºÉ°šnµœŸ¼o°nµœÅ—oÁ oµÅžÄœ­nªœ °Š®¨´„„µ¦ª·Á‡¦µ³®r °Ä®ošnµœŸ¼o°nµœš¦µªnµ ®¨´„„µ¦Á®¨nµœ´Êœ¤¸Âœª‡·—Á®¨nµœ¸Ê°¥¼nÁºÊ°Š ®¨´Š °¥nµŠÅ¦„Șµ¤ šnµœŸ¼o°nµœ¡¹Š¦³¨¹„Ūoªnµ ×¥˜´ª °Š„¦µ¢Á°Šœ´Êœ ŤnÅ—oÁž}œ­µÁ®˜»š¸ÉšÎµÄ®o¦µ‡µ®»oœ¤¸„µ¦ž¦´˜´ª­¼Š ¹Êœ ®¦º°¨—¨ŠÁ¡¦µ³„¦µ¢œ´ÊœÁž}œÁ¡¸¥Š­·ÉŠš¸É¡·¤¡rœ„¦³—µ¬ÂŸnœ®œ¹ÉŠÁšnµœ´ÊœÂ˜n—oª¥„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡š¸Éšnµœ‹³Å—o °nµœ˜n°Åž šÎµÄ®ošnµœ¤¸Á‡¦ºÉ°ŠÅ¤oÁ‡¦ºÉ°Š¤º°Äœ„µ¦ª·Á‡¦µ³®r Ž¹ÉŠ‹³Áž}œ„µ¦—¹ŠÁ°µ­·ÉŠš¸É¦µ‡µ®»oœ°¥µ„‹³°„œ´Êœ°°„¤µ ªnµ ¦µ‡µ®»oœœ´Êœ‹³Á‡¨ºÉ°œ˜´ªÅžÄœš·«šµŠÄ—®¦º°­¤‡ª¦Â„nÁª¨µÂ¨oªš¸É‹³¤¸„µ¦Áž¨¸É¥œÂœªÃœo¤Á„·— ¹Êœ š§¬’¸—µª 'RZ7KHRU ®¨´Š‹µ„š¸ÉšnµœŸ¼o°nµœÅ—oš¦µ™¹ŠÂœª‡·—®¦º°‡ªµ¤ÁºÉ° š¸ÉÁž}œ‹»—„εÁœ·— °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Â¨oª ˜°œœ¸Ê°¥µ„Ä®o šnµœŸ¼o°nµœ¨°Š¤µšÎµ‡ªµ¤Á oµÄ‹„´š§¬‘¸šµŠÁš‡œ·‡¥»‡»„Á·„š¸É¤¸ºÉ°ªnµ'RZ7KHRU„n°œš¸É‹³Á oµÅž­¼n„¦³ªœ¥»š›rÄœ „µ¦ª·Á‡¦µ³®rš¸É°¥¼nÄœš™´—ÅžŽ¹ÉŠ¤¸­µ¦³­Îµ‡´š¸Éž¦µ„‘Äœš§¬‘¸œ¸Ê—´Š˜n°Åžœ¸Ê £µ¡Ã—¥¦ª¤ °Š˜¨µ— Å—o—¼—Ž´Á®˜»„µ¦–rš»„­·ÉŠš»„°¥nµŠš¸ÉÁ„·— ¹ÊœÁ°µÅªo¨oª šnµœŸ¼o°nµœ°µ‹‹³­Š­´¥ªnµ¤´œ ‡¨oµ¥„´Âœª‡·—ÁºÊ°Š˜oœš¸ÉÁ‡¥„¨nµªÅªo „È °˜°ªnµÄn‡¦´ ˜n¤¸ o°Â˜„˜nµŠ°¥¼nœ·—®œ¹ÉŠ˜¦Šš¸ÉÄœ„¦–¸œ¸Ê ‹³¡¼—™¹Š£µ¡Ã—¥ ¦ª¤¤µ„„ªnµš¸É‹³Áž}œ®»oœ˜´ªÄ—˜´ª®œ¹ÉŠÁšnµœ´Êœ
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- ÂœªÃœo¤ µ ¹Êœ XSWUHQG ‹³˜o°Š¤¸¨´„¬–³—´Šœ¸Ê‡º°‹»—¥°—¨³‹»—„oœ¹ÊŠš¸ÉÁ„·— ¹Êœ‹³˜o°Š°¥¼n­¼Š„ªnµ‹»—¥°—¨³ ‹»—„oœ¹ÊŠ°´œ„n°œ®œoµ Äœ –³š¸ÉÂœªÃœo¤ µ¨Š ‹»—¥°—¨³‹»—„oœ¹ÊŠš¸ÉÁ„·— ¹Êœ ‹³˜o°Š°¥¼n˜Îɵ„ªnµ‹»—¥°—¨³‹»—„oœ¹ÊŠš¸É°¥¼n „n°œ®œoµŽ¹ÉŠ®¨´„„µ¦œ¸ÊÁ°Šš¸ÉÁž}œš¸É¤µ °Šœ·¥µ¤ÂœªÃœo¤ WUHQG š¸É‹³Å—o„¨nµªÄœš™´—Åž œ°„‹µ„œ¸Ê'RZ¥´ŠÅ—onŠ¦³¥³Áª¨µ °ŠÂœªÃœo¤°°„Áž}œnªŠ‡º°SULPDUVHFRQGDU¨³PLQRUŽ¹ÉŠ˜´ªÁ µ Å—oÁž¦¸¥¦³¥³Áª¨µš´ÊŠ ­nªœ oµŠ˜oœ„´‡¨ºÉœÄœš³Á¨ ªnµÁ®¤º°œÁž}œ„¦³Â­œÎʵ WLGH ‡¨ºÉœ ZDYHV ¨³ ¢°Š‡¨ºÉœ ULSSOHV ˜µ¤¨Îµ—´ nªŠSULPDU‹³„·œ¦³¥³Áª¨µ¤µ„„ªnµže ¹ÊœÅžÄœ –³š¸ÉnªŠVHFRQGDU‹³„·œ¦³¥³Áª¨µ­´ž—µ®r™¹ŠÁ—º°œ nªŠVHFRQGDUœ¸Ê™º°Å—oªnµÁž}œnªŠ¦³¥³Áª¨µÄœ„µ¦ž¦´˜´ª FRUUHFWLRQ ÄœSULPDUWUHQG˜´ª°¥nµŠÁnœ™oµÂœªÃœo¤Á—·¤ ÄœnªŠSULPDUÁž}œ µ ¹Êœ„µ¦ž¦´˜´ªÄœVHFRQGDU„È‹³Áž}œ µ¨Š®¦º°®µ„ÂœªÃœo¤Á—·¤ÄœnªŠSULPDUÁž}œ µ¨Š„µ¦ ž¦´˜´ªÄœVHFRQGDU„È‹³Áž}œ µ ¹ÊœŽ¹ÉŠªnµ„´œªnµÃ—¥ž„˜·„µ¦ž¦´˜´ª‹³¤¸¦³¥³®¦º° °ŠÂœªÃœo¤Á—·¤„n°œš¸É‹³ Á¦·É¤ª„˜´ª„¨´Á oµ­¼nÂœªÃœo¤Á—·¤ SULPDU ˜nn°¥‡¦´ÊŠ¤´„‹³Á„·— ¹Êœ¦³—´­nªœnªŠPLQRU‹³„·œ¦³¥³Áª¨µœo°¥„ªnµ ­´ž—µ®r‹¹Š™º°ªnµnªŠPLQRUœ¸ÊÁž}œÁ¡¸¥ŠÂ‡n„µ¦Â„ªnŠ˜´ª °Š¦µ‡µš¸ÉÁ„·— ¹ÊœÁšnµœ´Êœ ®µ„¡·‹µ¦–µ¡§˜·„¦¦¤„µ¦¨Šš»œÄœÂœªÃœo¤­Îµ‡´®œ¹ÉŠÇÁnœÂœªÃœo¤ µ ¹Êœ‹³¤¸°¥¼n‹´Š®ª³‡º° ‹´Š®ª³Â¦„Áž}œ‹´Š®ª³š¸Éœ´„¨Šš»œš¸ÉÁ¨ÈŠÁ®Èœ„µ¦–rÅ„¨Á oµ¤µo°œŽºÊ°®»oœÁ¡¦µ³Á®Èœªnµ nµª‡¦µªÁ·Š¨Å—o ™¼„—¼—Ž´Åž®¤—¨oªÄœ˜¨µ— ¨³¤¸Ã°„µ­š¸É nµª­µ¦Á·Šª„‹³‡n°¥Çž¦µ„‘°°„¤µ Ž¹ÉŠ‹´Š®ª³œ¸ÊÁ¦¸¥„ªnµ nªŠÁ„ȝ °Š DFFXPXODWLRQSKDVH ‹´Š®ª³š¸É­°ŠÁž}œ‹´Š®ª³š¸ÉŸ¼o¨Šš»œš¸ÉÁœoœ„µ¦¨Šš»œ˜µ¤ÂœªÃœo¤˜¨µ—Á oµ¤µ¤¸­nªœ¦nª¤¤µ„ ¹ÊœÄœ˜¨µ— ×¥¤¸Â¦Š®œ»œ‹µ„ o°¤¼¨ nµª­µ¦šµŠ›»¦„·‹Á·Šª„š¸Éž¦µ„‘´—¤µ„ ¹Êœ­nŠŸ¨Ä®o¦µ‡µÃ—¥¦ª¤¤¸„µ¦ž¦´˜´ª­¼Š ¹Êœ ‹´Š®ª³š¸É­µ¤ Áž}œ‹´Š®ª³š¸É¤¸Ÿ¼oÁ¨nœ°¥¼nÄœ˜¨µ—¤µ„¥·ÉŠ ¹Êœ nµª­µ¦Á·Šª„‹³®¨´ÉŠÅ®¨„´œ°°„¤µ¤µ„¤µ¥ „µ¦Á„ÈŠ„εŦ¤¸¤µ„ ¹Êœ Ž¹ÉŠ­£µ¡š¸ÉÁ„·— ¹Êœœ¸Ê ™º°Å—oªnµÁž}œ„µ¦°„Ä®oœ´„¨Šš»œš¸ÉÁ‡¥Á¨ÈŠ„µ¦–rÅ„¨‹µ„Äœ‹´Š®ª³Â¦„ ‡ª¦Á¦·É¤ š¥°¥šÎµ„εŦ°°„Åž„n°œš¸É‹³¤¸Â¦Š µ¥ž¦µ„‘°°„¤µŽ¹ÉŠ‹´Š®ª³œ¸ÊÁ¦¸¥„ªnµnªŠ¦³µ¥ °Š GLVWULEXWLRQSKDVH œ´¥­Îµ‡´ °ŠÂœªÃœo¤‡ª¦š¸É‹³¥ºœ¥´œŽ¹ÉŠ„´œÂ¨³„´œ„¨nµª‡º°Äœ¥»‡ °Š'RZœ´Êœ¤¸‡nµÁŒ¨¸É¥š¸ÉčoÁž}œ˜´ªª´—®¦º°—¼ £µ¡¦ª¤°¥¼n‡nµ‡º°LQGXVWULDODYHUDJH¨³UDLODYHUDJHŽ¹ÉŠÁ µÁ®Èœªnµ­´µ–„µ¦ž¦´˜´ª­¼Š ¹Êœ®¦º°ž¦´˜´ª¨Š °Š ˜¨µ—‹³Å¤n¤¸œ´¥­Îµ‡´®µ„LQGXVWULDO¨³UDLODYHUDJHVŤnÁž}œÅžÄœš·«šµŠÁ—¸¥ª„´œŽ¹ÉŠ˜¦Š‹»—œ¸ÊÁ°ŠÁž}œ‹»—˜„˜nµŠ ¦³®ªnµŠ'RZ7KHRU¨³(OOLRWW:DYH7KHRU Ž¹ÉŠ‹³Å—o„¨nµª™¹ŠÄœš®¨´ŠÇ Á¡¦µ³(OOLRWWZDYHŤn¤¸„µ¦¡¼—™¹Š„µ¦¥ºœ ¥´œš·«šµŠ—oª¥‡nµÁŒ¨¸É¥°¸„‡nµ®œ¹ÉŠ ž¦·¤µ–„µ¦ŽºÊ° µ¥ Áž}œž{‹‹´¥­Îµ‡´š¸ÉčoÄœ„µ¦¥ºœ¥´œÂœªÃœo¤ ˜´ª°¥nµŠÁnœ ®µ„ÂœªÃœo¤ °Š¦µ‡µÁž}œ µ ¹Êœ XSWUHQG ž¦·¤µ–„µ¦ŽºÊ° µ¥‡ª¦‹³Á¡·É¤ ¹Êœ˜µ¤ –³š¸É¦µ‡µ ¥´˜´ª ¹Êœ ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥ ‡ª¦‹³œo°¥¨Š ®µ„¦µ ‡µ¤¸„µ¦ž¦´˜´ª¨Š­£µ¡š¸ÉÁ„·— ¹ÊœÁnœœ¸Ê‹¹Š™º°ªnµÂœªÃœo¤ °Š¦µ‡µ¥´Š‡ŠÁž}œ µ ¹Êœ°¥¼n ÄœšµŠ„¨´„´œ®µ„ÂœªÃœo¤ °Š¦µ‡µÁž}œ µ¨Š GRZQWUHQG ž¦·¤µ–„µ¦ŽºÊ° µ¥‡ª¦‹³Á¡·É¤ ¹Êœ˜°œš¸É¦µ‡µ¤¸„µ¦ ž¦´˜´ª¨ŠÂ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥‡ª¦‹³œo°¥¨Š –³š¸É¦µ‡µ¤¸„µ¦—¸—˜´ª ¹Êœ ­£µ¡š¸ÉÁ„·— ¹ÊœÁnœœ¸Ê ‹¹Š™º°ªnµ ÂœªÃœo¤ °Š ¦µ‡µ¥´Š‡ŠÁž}œ µ¨Š°¥¼n
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- °¥nµŠÅ¦„Șµ¤ ž¦·¤µ–„µ¦ŽºÊ° µ¥ Áž}œÁ¡¸¥ŠÂ‡nž{‹‹´¥š¸Éčož¦³„°„µ¦¡·‹µ¦–µ ˜n­·ÉŠš¸É‹³ÄoÁž}œ˜´ªÄ®o­´µ– ¥´Š‡Š°·Š°¥¼n„´¦µ‡µ ×¥ÁŒ¡µ³¦µ‡µžd— ÂœªÃœo¤‹³¥´Š‡Š™¼„ÁºÉ°ªnµ¤¸°¥¼n ‹ª‹œ„¦³š´ÉŠ¤¸­´µ–„µ¦Áž¨¸É¥œÂœªÃœo¤Á„·— ¹Êœ ®¨´„„µ¦œ¸ÊÁž}œ®¨´„¡ºÊœ “µœ°¸„ž¦³„µ¦ °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ š¸É¥´Š‡ŠÄo„´œ°¥¼nš»„ª´œœ¸Ê Ž¹ÉŠœÎµÅž­¼n„µ¦«¹„¬µÁ¦ºÉ°Š Âœª¦´Âœª˜oµœ ¦¼žÂ °Š¦µ‡µ˜¨°—‹œÁ‡¦ºÉ°Š¤º°Äœ„µ¦ª·Á‡¦µ³®r°ºÉœÇ°¸„¤µ„¤µ¥Äœ„µ¦°„™¹ŠÃ°„µ­Äœ„µ¦Áž¨¸É¥œÂœªÃœo¤ ž¦³Ã¥œr °Š„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ ¤µ™¹Š˜¦Š‹»—œ¸Ê Ÿ¼oÁ ¸¥œ°¥µ„¸ÊÄ®oÁ®Èœ™¹Š ž¦³Ã¥œr °Š„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ Ž¹ÉŠ®¨µ¥˜n°®¨µ¥‡œ¤¸‡ªµ¤‡·—Á¡¸¥Š ‡nªnµ˜o°Š„µ¦¦¼oŪoÁ¡ºÉ°ªnµ‹³Å—oÁ oµÅžÁ¨nœ®»oœÄ®oÅ—o„εŦ¤µ„ÇÁšnµœ´ÊœŽ¹ÉŠÂšo‹¦·ŠÂ¨oªÅ¤nčn‡nœ´ÊœÁ¡¦µ³ž¦³Ã¥œrš¸É™¼„˜o°Š œ´Êœ‹³Áž}œ—´Š oµŠ¨nµŠœ¸Ê˜nµŠ®µ„¨n³‡¦´ ¤¸‡ªµ¤¥º—®¥»nœÄœ„µ¦Äo­¼Š ®¤µ¥‡ªµ¤ªnµ ­µ¤µ¦™š¸É‹³ÄoÅ—o„´˜¨µ—„µ¦ÁŠ·œ˜nµŠÇ Ťn‹Îµ„´—ÁŒ¡µ³˜¨µ—®»oœ Ášnµœ´Êœ„¨nµª‡º°­µ¤µ¦™ÄoÅ—o„´š´ÊŠ˜¨µ—ÁŠ·œ¦³®ªnµŠž¦³Áš«°´˜¦µ—°„Á¸Ê¥š°Š‡Îµ²¨²Á¤ºÉ°Áš¸¥„´„µ¦ª·Á‡¦µ³®r šµŠ—oµœž{‹‹´¥¡ºÊœ“µœ š¸É°µ‹‹³Å¤nŠnµ¥œ´„š¸É‹³œÎµª·›¸„µ¦«¹„¬µÄœ˜¨µ—®œ¹ÉŠÅžÄo„´°¸„˜¨µ—®œ¹ÉŠÅ—o­ÎµÁ¦È‹¦¼ž¨Š˜´ª œ°„‹µ„œ¸Ê„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¥´Š­µ¤µ¦™ž¦´˜´ªÁ°ŠÄ®očoÅ—oÄœnªŠ¦³¥³Áª¨µš¸É˜„˜nµŠ„´œ°¥nµŠÁnœ¦³¥³­´Êœ®¦º° ¦³¥³¥µªÁž}œ˜oœ „µ¦¥nœ °Á ˜Â¨³¦³¥³Áª¨µÄœ„µ¦«¹„¬µ¨ŠÁ¤ºÉ°¤¸ o°‹Îµ„´—®¦º°‡nµÁ­¸¥Ã°„µ­šµŠ—oµœÁª¨µÁ¡¦µ³‹µ„š¸É„¨nµª ¤µÄœ˜°œ˜oœ‹³Á®ÈœÅ—oªnµ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡œ´Êœ¤»nŠÁ‹µ³Á oµÅžš¸ÉŸ¨­»š›· °Š­µÁ®˜»¤µ„„ªnµš¸É‹³¨ŠÅžÁ‹µ³¨¹„™¹Š˜´ª ­µÁ®˜»Á°Š Á¤ºÉ°Áš¸¥„´„µ¦ª·Á‡¦µ³®rž{‹‹´¥¡ºÊœ“µœš¸É˜o°ŠÄo¦³¥³Áª¨µ‡n°œ oµŠ¤µ„ Äœ„µ¦¨oªŠ¨¹„™¹Š­µÁ®˜»Á®¨nµœ´Êœ Ž¹ÉŠ °µ‹‹³Å¤nš´œ„µ¦ÄœµŠÃ°„µ­Á¡¦µ³Áª¨µÅ¤nÁ‡¥®¥»—‡°¥Ä‡¦ „µ¦ ¥´˜´ª ¹Êœ °Š¦µ‡µµŠ‡¦´ÊŠ Á„·— ¹Êœ„n°œš¸Éœ´„ª·Á‡¦µ³®ršµŠ—oµœž{‹‹´¥¡ºÊœ“µœ‹³‡oœ¡­µÁ®˜»š¸Éšo‹¦·Š Á¡¦µ³˜¨µ—š»„ª´œœ¸Ê¤¸‡ªµ¤Áž}œ­µ„¨¤µ„ ¹Êœ LQWHUQDWLRQDO Âœnœ°œ¤´œ¥n°¤¤¸­µÁ®˜»¤µ„¤µ¥®¨µ¥ž¦³„µ¦ š¸É­nŠŸ¨ „¦³š˜n°„µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µ ¤oªnµœ´„ª·Á‡¦µ³®rž{‹‹´¥¡ºÊœ“µœ ‹³Á oµÅž¦´š¦µ™¹Š­µÁ®˜»š¸Éšo‹¦·Š °Š„µ¦ ¥´˜´ª °Š¦µ‡µÂ˜n¦µ‡µ°µ‹‹³™¼„„¦³š—oª¥ž{‹‹´¥°´œ°ºÉœ˜n°ÁœºÉ°ŠÅž°¸„¨oª„ÈÅ—oŽ¹ÉŠ­Îµ®¦´œ´„‡oµÁŠ·œ®¦º°œ´„‡oµ®»oœµŠ‡¦´ÊŠÅ¤n °µ‹¦°‹œš¦µ­µÁ®˜»š¸Éšo‹¦·ŠÅ—oÁ¡¦µ³°µ‹‹³Á­¸¥Áž¦¸¥ÄœÁ·ŠÂ nŠ ´œ„´œ´„‡oµÁŠ·œ®¦º°œ´„‡oµ®»oœ¦µ¥°ºÉœ „µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Áž}œ„µ¦¦nœ¦³¥³Áª¨µÄœ„µ¦ª·Á‡¦µ³®r¨ŠšÎµÄ®oÁ¦µ­µ¤µ¦™ª·Á‡¦µ³®r˜¨µ—Å—o‹Îµœªœ ¤µ„„ªnµ Äœ –³š¸Éœ´„ª·Á‡¦µ³®ršµŠž{‹‹´¥¡ºÊœ“µœ°µ‹‹³˜o°Š‹Îµ„´—˜´ªÄ®oÁž}œŸ¼oÁ¸É¥ªµšµŠ—oµœ„¨»n¤›»¦„·‹Ä—›»¦„·‹®œ¹ÉŠ ÁœºÉ°Š‹µ„ o°‹Îµ„´—šµŠ—oµœÁª¨µš¸É¤¸‹Îµ„´— Äœ –³š¸Éž¦·¤µ– °Š o°¤¼¨¤¸¤µ„ Ÿ¨š¸É˜µ¤¤µ„ȇº° „µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¤µ¦™nª¥Ä®oÁ¦µ—¼„µ¦Á‡¨ºÉ°œÅ®ªÅ®ª °Š¦µ‡µÄœ„¨»n¤°»˜­µ®„¦¦¤˜nµŠÇÅ—oŠnµ¥Â¨³¦ª—Á¦Èª ¹Êœ¡¦o°¤š´ÊŠÁ®Èœ£µ¡Ã—¥¦ª¤ °¥nµŠ„ªoµŠÇÅ—oŠnµ¥„ªnµ
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- Ä®o‹´Š®ª³Äœ„µ¦Á oµ°°„˜¨µ— ®»oœ „¨nµª‡º° ­´µ–šµŠÁš‡œ·‡‹³Áž}œ˜´ª°„ªnµ­¤‡ª¦Â„nÁª¨µ®¦º°¥´Š š¸É ‹³Á oµÅžŽºÊ° µ¥®»oœÄœ˜¨µ—®¦º°¥´ŠÅ¤n¤¸‡ªµ¤‹ÎµÁž}œš¸É‹³˜o°Š°¥¼nÄœ˜¨µ—ÄœnªŠœ¸Ê o°Á­¸¥Â¨³‡ªµ¤Á oµÄ‹Ÿ·—ǝµŠž¦³„µ¦Á„¸É¥ª„´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ Âœnœ°œ‡¦´¤¸ o°—¸„Șo°Š¤¸ o°Á­¸¥Å¤n¤¸°³Å¦­¤¼¦–rÅžÁ­¸¥®¤—š»„°¥nµŠ™¹Š˜°œœ¸Ê°¥µ„Ä®ošnµœŸ¼o°nµœ¦´¢{Š o°Á­¸¥ °Š„µ¦ ª·Á‡¦µ³®ršµŠÁš‡œ·‡oµŠÂ¨³°¥µ„šÎµ‡ªµ¤Á oµÄ‹µŠ°¥nµŠš¸É®¨µ¥Ç‡œÁºÉ°Ÿ·—ÇÁ„¸É¥ª„´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ¤oªnµ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡‹³nª¥‹Îµ„´— °Á ˜Â¨³¦nœ¦³¥³Áª¨µÄœ„µ¦ª·Á‡¦µ³®rÅ—o ˜n„µ¦¡·‹µ¦–µÂ˜n Á¡¸¥ŠŸ¨­¦»ž­»—šoµ¥ °ŠÁ®˜»„µ¦–r „È°µ‹‹³šÎµÄ®o„µ¦ª·Á‡¦µ³®rœ´ÊœÅ¤n¤¸‡ªµ¤¨¹„Á¡¸¥Š¡° ¨³°µ‹‹³˜„Áž}œÁ®¥ºÉ° °Š„µ¦ ž{~œ®»oœÅ—oŽ¹ÉŠ°´œš¸É‹¦·ŠÂ¨oª­µ¤µ¦™Â„oÅ Å—ooµŠ—oª¥„µ¦˜´ÊŠVWRSÁ°µÅªo¨nªŠ®œoµÂ¨³Ä‹‹³˜o°ŠÂ ÈŠ¡°š¸É‹³ÁŒº°œÁœºÊ°¦oµ¥š·ÊŠ Å—oÁª¨µš¸ÉÁ„·—ž{®µ Á¡¦µ³ÄœnªŠš¸É˜¨µ—®ªº°®ªµ¤µ„ „µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µš¸ÉÁž}œÅžÄœš·«šµŠš¸ÉÁ¦µÅ¤nÅ—o‡µ—‡·—¤µ „n°œ„È‹³¦»œÂ¦Š¤µ„Ž¹ÉŠ®¤µ¥‡ªµ¤ªnµ‹ÎµœªœÁœºÊ°¦oµ¥š¸É‹³˜o°ŠÁŒº°œ„ÈÁ¥°³ ¹Êœ˜µ¤Åž—jª¥ „µ¦Äo„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ץŤn¦¼oŽ¹ÊŠ™¹ŠÂœª‡ªµ¤‡·—ÁºÊ°Š®¨´Š °ŠÁš‡œ·‡˜nµŠÇ „È­µ¤µ¦™„n°Ä®oÁ„·— °´œ˜¦µ¥Å—o¤µ„¡°­¤‡ª¦Ánœ„µ¦ÄoÁ‡¦ºÉ°Š¤º°ž¦³Á£š˜µ¤ÂœªÃœo¤ WUHQGIROORZLQJVVWHP Äœ˜¨µ—š¸É¤¸„µ¦Á‡¨ºÉ°œ Å®ªÂÅ¦oš·«šµŠÃ—¥Å¤n¤¸ÂœªÃœo¤ VLGHZD ‹³¤¸Ÿ¨Â˜nšÎµÄ®oÁ¦µÁ oµÇ°°„Ç×¥š¸É„εŦ°µ‹‹³ÂšÅ¤n¤¸®¦º°¤¸„Èš‹³ Ťn¡°‡nµÃ¦„Á„°¦r °¥¼nÁŒ¥Ç—¸„ªnµ —´Šœ´Êœ ™oµ¦´„‹³Áž}œœ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡ „ȇª¦‹³˜o°ŠÁ oµÄ‹™¹ŠÂœª‡ªµ¤‡·— °Š Á‡¦ºÉ°Š¤º°š¸É‹³œÎµ¤µÄoÄ®o—¸Á­¸¥„n°œÂ¨³œÎµ¤µž¦³­¤ž¦³­µœÄ®oÁ oµ„´š·«šµŠ„µ¦Á‡¨ºÉ°œÅ®ª °Š˜¨µ— œ´„¨Šš»œµŠšnµœÁ oµÄ‹ªnµ Á¤ºÉ°¦¼oª·›¸„µ¦šµŠÁš‡œ·‡Â¨oª‹³­µ¤µ¦™ŽºÊ°Å—oš¸É¦µ‡µ˜Îɵ­»— ¨³ µ¥Å—oš¸É¦µ‡µ­¼Š­»— Ž¹ÉŠÄœÃ¨„ °Š‡ªµ¤Áž}œ‹¦·ŠÂ¨oªÅ¤n¤¸Á‡¦ºÉ°Š¤º°®¦º°Áš‡œ·‡Å®œÄœÃ¨„œ¸Ê­µ¤µ¦™‹³šÎµÅ—o°´œš¸É‹¦·ŠÂ¨oªÁ‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡ Á¡¸¥ŠÂ‡n°„ªnµnªŠÅ®œ‡ª¦Á oµ˜¨µ— ¨³nªŠÅ®œ‡ª¦‹³°°„‹µ„˜¨µ— ®¦º°nªŠÅ®œš¸ÉÁž}œ„µ¦¥ºœ¥´œªnµÂœªÃœo¤Á—·¤Å—o Áž¨¸É¥œÂž¨ŠÅžÂ¨oªÂ¨³„ªnµ‹³¤¸„µ¦¥ºœ¥´œªnµÁž}œ„µ¦Áž¨¸É¥œÂœªÃœo¤‹¦·ŠÁ¦µ„È°µ‹‹³Á¨¥‹»—˜Îɵ­»—®¦º°­¼Š­»—ިoªÂ˜n„È ­µ¤µ¦™¨—‡ªµ¤Á­¸É¥ŠÁœºÉ°Š‹µ„„µ¦Á oµ°°„ Ÿ·—Ç™¼„ÇÅ—o °¥nµŠÅ¦„È—¸ „µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Å¤nÁ‡¥¥ºœ¥´œªnµ‡»–‹³Å—o „εŦ­¼Š­»— ¥„ÁªoœÂ˜n¢¨»p‡‹¦·ŠÇ œ°„‹µ„œ¸Ê ­´µ– °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ „ÈŤn‹ÎµÁž}œ‹³˜o°Š™¼„Á­¤°Åž „µ¦š¸ÉÁ¦µ¤¸žgœ„¨ ŤnÅ—o®¤µ¥ ‡ªµ¤ªnµ‹³˜o°Š¥·Š™¼„ÁžjµÁ­¤°Åž Á¡¸¥ŠÂ˜nð„µ­™¼„Ážjµ¤´œ—¸ ¹ÊœÁšnµœ´Êœ Ťn¤¸Á‡¦ºÉ°Š¤º°°³Å¦š¸É­ÎµÁ¦È‹¦¼ž­¤¼¦–r¦o°¥Áž°¦r ÁŽœ˜r ¤o³®¤¸É‹³¤¸Â­ÎµÁ¦È‹¦¼ž µ¥„ÈÁ®°³ Ÿ¼očoÁ‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡‹³˜o°Š¤¸ª·œ´¥š¸É—¸ Äœ„µ¦š¸É‹³¥°¤¦´Á¤ºÉ°„µ¦ ª·Á‡¦µ³®rÄ®oŸ¨Ÿ·—¡¨µ—¨³Á˜¦¸¥¤˜´ªÁŸºÉ°­™µœ„µ¦–rœ¸ÊÁ°µÅªo—oª¥„µ¦˜´ÊŠVWRSÁ°µÅªoÁ¨¥‡º°™oµ™¹Š‹»—œ¸Ê‹³¥°¤¦´˜´ª Á°ŠªnµŸ·—¨³˜´—Ä‹ µ¥š·ÊŠ ®¦º°ŽºÊ°„¨´Â¨oªÂ˜n„¦–¸ ¤¸°³Å¦Äœ®œ´Š­º°Á¨n¤œ¸Ê
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- Äœ®œ´Š­º°Á¨n¤œ¸Ê Á¦µ‹³¡¼—™¹ŠÁ‡¦ºÉ°Š¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡˜nµŠÇ š¸ÉÁž}œš¸Éœ·¥¤Äo„´œ ×¥¡¥µ¥µ¤š¸É‹³Ä®o‡¦°‡¨»¤ Á‡¦ºÉ°Š¤º°Ä®o¤µ„š¸É­»—Ášnµš¸Éž{µÂ¨³Áª¨µ °ŠŸ¼oÁ ¸¥œ‹³­µ¤µ¦™šÎµÅ—oץnŠ°°„Áž}œ£µ‡Ä®nÇ £µ‡Â¦„ Áž}œ„µ¦ž¼¡ºÊœ“µœ °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ž¦³Á£š 7UHQGOLQH KDUWLQJ 7HFKQLTXH Ž¹ÉŠÁž}œÂ—´ÊŠÁ—·¤š¸É œ·¥¤Äo„´œ¤µoµœµœÂ¨³Áž}œ¦¼žÂ¡ºÊœ“µœš¸É„¨µ¥Áž}œ˜oœÂ °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¥»‡®¨´ŠÇץĜšš¸É‹³ Áž}œ„µ¦°›·µ¥™¹Šª·›¸„µ¦Á ¸¥œKDUWšµŠÁš‡œ·‡¦¼žÂ °Š%DUKDUW°¥nµŠŠnµ¥š¸ÉčošnŠ%DUÁ¡¸¥ŠÅ¤n„¸Éª´œ˜¨°—‹œ „µ¦šÎµ‡ªµ¤Á oµÄ‹ÁºÊ°Š˜oœÁ„¸É¥ª„´ÂœªÃœo¤ Äœšš¸É ‹³Áž}œ„µ¦°›·µ¥™¹ŠÂœª‡ªµ¤‡·—Á„¸É¥ª„´¦¼žÂ˜nµŠÇ °Š„µ¦ Áž¨¸É¥œÂœªÃœo¤ 5HYHUVDO3DWWHUQV šš¸É‹³Áž}œÁ¦ºÉ°Š °Š¦¼žÂ˜n°ÁœºÉ°Š RQWLQXRXV3DWWHUQV Ž¹ÉŠÁž}œ¦¼žÂš¸É ˜¨µ—®¥»—¡´„˜´ª´Éª‡¦µª„n°œš¸É‹³Á—·œ˜n°ÅžÄœš·«šµŠÁ—·¤Â¨³šš¸ÉÁž}œ„µ¦ª·Á‡¦µ³®rŸœ£¼¤·Â3RLQWDQG)LJXUH £µ‡š¸É­°Š‹³¡¼—™¹Š—´œ¸Á‡¦ºÉ°Š¸Ê ,QGLFDWRUV ˜nµŠÇ¨³Á‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡¥»‡®¨´ŠÇ×¥Á¦·É¤‹µ„šš¸ÉŽ¹ÉŠÁž}œ„µ¦ ž¼¡ºÊœÁ„¸É¥ª„´¦³‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É Ž¹ÉŠÁž}œÂ¤nš¸É˜„˜´ª°°„Áž}œÁ‡¦ºÉ°Š¸Ê˜nµŠÇ ¨³­µ¤µ¦™œÎµÅžÄo‡¼n„´Á‡¦ºÉ°Š¸Ê ˜nµŠÇÅ—o¤µ„¤µ¥šš¸É‹³¡¼—™¹ŠÁ‡¦ºÉ°Š¸Êš¸ÉÁ„¸É¥ª o°Š„´¦µ‡µ 3ULFH,QGLFDWRUV šš¸ÉÁž}œÁ¦ºÉ°Š °ŠÁ‡¦ºÉ°Š¸Êš¸ÉÁ„¸É¥ª o°Š „´ž¦·¤µ–„µ¦ŽºÊ° µ¥ 9ROXPH,QGLFDWRUV ¨³šš¸É‹³¡¼—™¹Š0DUNHW,QGLFDWRUVŽ¹ÉŠÁž}œÁ‡¦ºÉ°Š¸Êš¸Éčož¦³„°„µ¦ ¤°Š­£µ¡˜¨µ—×¥¦ª¤ £µ‡š¸É­µ¤‹³Áž}œÁ¦ºÉ°Š °Šš§¬’¸‡¨ºÉœÂ¨³ª´’‹´„¦Ã—¥Äœšš¸ÉÁž}œ„µ¦ž¼¡ºÊœ“µœ‡ªµ¤Á oµÄ‹Á„¸É¥ª„´˜´ªÁ¨ °Š¢dÝ œµ¸ÉŽ¹ÉŠÁž}œš¸É¤µ °Š­´—­nªœš°Š‡Îµ *ROGHQ5DWLR š¸Éčo„´œ°¥nµŠ„ªoµŠ ªµŠÄœÁ¦ºÉ°Š °Š„µ¦—¸—˜´ª 5HWUDFHPHQW ¨³¤¸ ‡ªµ¤­°—‡¨o°Š°¥nµŠÄ„¨o·—„´š§¬‘¸‡¨ºÉœ °Š°¸Á¨¸¥˜ (OOLRW:DYH7KHRU Ž¹ÉŠÁž}œ®´ª o°™´—Åžš¸ÉÁ¦µ‹³¡¼—™¹ŠÄœšš¸É ­nªœšš¸É ‹³¡¼—™¹ŠÂœª‡ªµ¤‡·—¨³„µ¦ž¦³¥»„˜rčo °Šš§¬’¸ *DQWW ¨³šš¸É ‹³Áž}œÁ¦ºÉ°Š„µ¦ª´—ª´’‹´„¦ FOHV ¨³„µ¦ž¦³¥»„˜rčoª´’‹´„¦„´Á‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡°ºÉœÇ £µ‡š¸É­¸ÉÁž}œÁ¦ºÉ°ŠÁ„¸É¥ª„´„µ¦ª·Á‡¦µ³®rŸœ£¼¤·ÂšnŠÁš¸¥œÂ¸Éž»iœŽ¹ÉŠÂ¤o‹³Á„·— ¹Êœ¤µœµœÂ¨oªÂ˜nÁ¡·ÉŠ‹³Áž}œš¸Éœ·¥¤„´œÄœ 脘³ª´œ˜„ Á¤ºÉ°Å¤n„¸Éžeš¸ÉŸnµœ¤µœ¸ÊÁ°Š ×¥šš¸É ‹³Á„¦·ÉœœÎµ™¹Šª·›¸„µ¦Á ¸¥œÂŸœ£¼¤·ÂÂšnŠÁš¸¥œÂ¨³‡ªµ¤®¤µ¥ °Š „µ¦°nµœÂšnŠÁš¸¥œ°¥nµŠŠnµ¥šš¸É°›·µ¥™¹Š¦¼žÂ„µ¦Áž¨¸É¥œÂœªÃœo¤ 7UHQG5HYHUVDO ĜŸœ£¼¤·ÂÂšnŠÁš¸¥œ ¨³šš¸ÉÁž}œ¦¼žÂ„µ¦Á‡¨ºÉ°œÅ®ªÄœš·«šµŠÁ—·¤ RQWLQXRXV3DWWHUQV £µ‡­»—šoµ¥Ž¹ÉŠ¤¸šÁ—¸¥ª‡º°šš¸ÉÁž}œ„¦–¸«¹„¬µ °Š„µ¦œÎµÁ°µÁ‡¦ºÉ°Š¤º°˜nµŠÇ °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¤µÄoÄœ šµŠž’·´˜·Ž¹ÉŠž¦³„°—oª¥„¦–¸˜nµŠÇ„¦–¸‹¹ŠÁ¦¸¥„ºÉ° °Šš­»—šoµ¥œ¸Êªnµ„¦³ªœ¥»š›r
-- šš¸É „µ¦­¦oµŠKDUW œ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡ °µ«´¥¦¼ž„¦µ¢ ®¦º° KDUW Áž}œÁ‡¦ºÉ°Š¤º°­Îµ‡´Äœ„µ¦ šÎµ¤µ®µ„·œ—´Šœ´Êœ„n°œš¸ÉÁ¦µÅž™¹Š‹»—š¸É‹³®´—°nµœ„¦µ¢®µ¦¼žÂ˜nµŠÇÁ¦µ‡Š ‹³˜o°Š¤µšÎµ‡ªµ¤Á oµÄ‹Á„¸É¥ª„´®¨´„„µ¦ÁºÊ°Š˜oœ °Š„µ¦­¦oµŠKDUWÁ­¸¥„n°œ ®¨µ¥Çšnµœ‡Š‹³Á‡¥Á®ÈœÂŸœ£µ¡„¦µ¢®¦º°KDUWšµŠ—oµœ„µ¦ª·Á‡¦µ³®ršµŠ Áš‡œ·‡¤µÂ¨oª ‹³Á®Èœªnµ£µ¡œ´Êœž¦³„°—oª¥ šnŠš¸É˜´ÊŠŒµ„„´Âœªœ°œ®¨µ¥ÂšnŠ Ž¹ÉŠÂ˜n¨³ÂšnŠ„Ȥ¸ œµ—ŤnÁšnµ„´œ šnŠ Á®¨nµœ¸Êœ´Êœ šoš¸É‹¦·ŠÁž}œ„µ¦Â­—Š o°¤¼¨šµŠ­™·˜· °Š¦µ‡µš¸ÉÁ„·— ¹ÊœÄœÂ˜n¨³nªŠÁª¨µ ×¥®œ¹ÉŠnªŠÁª¨µ Ánœ ®œ¹ÉŠª´œ ‹³ ­—Š—oª¥ÂšnŠ®œ¹ÉŠÂšnŠÂšnŠœ¸Ê£µ¬µ°´Š„§¬Á¦¸¥„ªnµ%DU—´Šœ´ÊœÂŸœ£µ¡šµŠÁš‡œ·‡œ¸ÊµŠ‡¦´ÊŠÁ¦µ‹¹ŠÁ¦¸¥„ªnµ%DUKDUW ¦¼žš¸ÉŸœ£µ¡„¦µ¢Â¨³°Š‡rž¦³„°ÄœÂšnŠ„¦µ¢ ‡ªµ¤¥µª °ŠÂšnŠÂ˜n¨³ÂšnŠ ¹Êœ°¥¼n„´¡·­´¥ UDQJH ®¦º°nªŠ °Š„µ¦ŽºÊ° µ¥‹µ„¦µ‡µ­¼Š­»—Åž®µ˜Îɵ­»——´Šœ´Êœ™oµª´œœ´Êœ ¦µ‡µª·ÉŠ®ªº°®ªµ¤µ„ šnŠ„È‹³¥µª ­—ŠÄ®oÁ®Èœªnµ˜¨µ—ª´œœ´ÊœÂ„ªnŠ˜´ªÂ¦Š ˜n™oµª´œœ´Êœ˜¨µ—Ž¹¤Ç Ťn‡n°¥®ªº°®ªµ¤µ„ Á¦µ‹³¡ªnµÂšnŠœ´Êœ­´Êœ‹·Ë—Á—¸¥ªÂ¨³™oµª´œÅ®œš´ÊŠª´œŽºÊ° µ¥¤´œ°¥¼nš¸É¦µ‡µÁ—¸¥ª ®¦º°š´ÊŠª´œŽºÊ° µ¥„´œÂ‡n¦µ¥„µ¦Á—¸¥ª šnŠ „È‹³„¨µ¥Áž}œ‹»—ÅžÁ¡¦µ³¦µ‡µ­¼Š­»—„´˜Îɵ­»—¤´œÁšnµ„´œ ¦µ‡µ­¼Š­»— ¦µ‡µÁžd— ¦µ‡µžd— ¦µ‡µ˜Îɵ­»—
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ¦µ‡µžd—„È™¼„­—Š°¥¼nœÂšnŠÁ®¤º°œ„´œ‡¦´Â­—ŠÁž}œ˜·ÉŠ°¥¼nšµŠ ªµ¤º° °ŠÂšnŠÁ¡ºÉ°nª¥Ä®oÁ¦µ—¼Âž¨kÁ—¸¥ª„Ȧ¼oÁ¨¥ªnµª´œ œ¸Ê¦µ‡µžd—Ä„¨o¦µ‡µ­¼Š­»—®¦º°žd—Ä„¨o¦µ‡µ˜Îɵ­»—œ°„‹µ„œ¸Ê¦µ‡µÁžd—„È­—ŠÁž}œ˜·ÉŠ°¥¼nšµŠŽoµ¥¤º°Á¡ºÉ°Ä®oÁ¦µ—¼¦¼oªnµÁžd— „´žd—¤´œ˜nµŠ„´œÂ‡nÅ®œ—´ŠÂ­—ŠÄœ¦¼žš¸É‹³Á®Èœªnµ­·ÉŠš¸É­—ŠÄœ®œ¹ÉŠÂšnŠœ´Êœ­µ¤µ¦™Ä®o o°¤¼¨Á¦µÅ—o¤µ„¤µ¥Â¨³Šnµ¥ „ªnµ—¼ o°¤¼¨—·Â¨³Á¤ºÉ°œÎµÁ°µÂšnŠÁ®¨nµœ¸Ê¤µÁ¦¸¥Š„´œ˜µ¤ª´œš¸É¤¸„µ¦ŽºÊ° µ¥Á¦µ„È‹³Å—o%DUKDUWŽ¹ÉŠ­µ¤µ¦™°„°³Å¦Á¦µ Å—o¤µ„¤µ¥ ¹ÊœÅž°¸„ ¦¼žÂŠnµ¥Ç„´ÂšnŠ%DU „n°œš¸É‹³¡µšnµœ˜³¨»¥Åž„´¦¼žÂ˜nµŠÇ °Š %DU KDUW Á¦µ‹³¤µ¡¼—„´œ™¹Š¦¼žÂŠnµ¥Ç š¸Éª´—„´œ—oª¥ÂšnŠÅ¤n„¸ÉšnŠ„n°œ °´œš¸É‹¦·Š¦¼žÂŠnµ¥ÇÁ®¨nµœ¸ÊŤn‡n°¥¤¸Ä‡¦¡¼—™¹Š„´œ¤µ„œ´„Äœ˜Îµ¦µ—oµœ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡°µ‹‹³Á¡¦µ³¤´œÁ¦¸¥Šnµ¥ Á„·œÅž ‹œµŠšnµœ‡·—ªnµÅ¤n¤¸‡ªµ¤­Îµ‡´°³Å¦ ˜n¦¼žÂÁ®¨nµœ¸Ê „Ȥ¸°¥¼n®¨µ¥°´œ š¸É¤¸Âœª‡ªµ¤‡·—Ä„¨oÁ‡¸¥Š„´ -DSDQHVHDQGOHVWLFN¡°­¤‡ª¦—´Šœ´Êœ„µ¦¦¼o¦¼žÂœ¸ÊŪo˜nÁœ·ÉœÇ„ȇŠ‹³Å¤nÁ­¸¥®¨µ¥œ°„‹µ„œ¸Ê¦¼o¤µ„Ūo‡ŠÅ¤nÁž}œÅ¦ ‹³Äo®¦º°Å¤nčoÁž}œ°¸„Á¦ºÉ°Š®œ¹ÉŠ 8SVLGH5HYHUVDO 5 ¨³'RZQVLGH5HYHUVDO 5 Áž}œ¦¼žÂ °Š„µ¦Áž¨¸É¥œÂž¨Šš·«šµŠÄœ¦³¥³­´Êœ ×¥°µ«´¥ÂšnŠ„¦µ¢Á¡¸¥Š šnŠ ª„„´ÂœªÃœo¤¦³¥³­´Êœ °Š o°¤¼¨ Äœ°—¸˜ 8SVLGH5HYHUVDO‡º°„¦–¸š¸ÉÂœªÃœo¤¦³¥³­´Êœš¸ÉŸnµœ¤µ °Š¦µ‡µÁž}œÂœªÃœo¤¨ŠÂ¨³¦µ‡µ˜Îɵ­»—ª´œœ¸Êœo°¥„ªnµ¦µ‡µ˜Îɵ­»— Á¤ºÉ°ªµœœ¸Ê ˜n¦µ‡µžd—ª´œœ¸Ê„¨´­¼Š„ªnµ¦µ‡µžd—Á¤ºÉ°ªµœœ¸Ê /W /W ˜n W ! W ¨´„¬–³Ánœœ¸Ê ­—ŠªnµÅ—o¤¸„µ¦ ¡¥µ¥µ¤—´œ¦µ‡µÄ®o˜Îɵ¨ŠÅž„ªnµÁ¤ºÉ°ªµœœ¸Ê°¸„˜nªnµ¤¸Â¦ŠŽºÊ°®œ»œÁ oµ¤µÄœ¦³®ªnµŠª´œšÎµÄ®o¦µ‡µžd—­µ¤µ¦™ ¥´˜´ªÅ—o­¼Š ¹Êœ„ªnµÁ¤ºÉ°ªµœœ¸ÊŽ¹ÉŠÃ°„µ­š¸É˜¨µ—‹³—¸—˜´ª„¨´Áž}œÂœªÃœo¤ ¹ÊœÄœ¦³¥³­´Êœ„Ȥ¸°¥¼n¡°­¤‡ª¦ 'RZQVLGH5HYHUVDO‹³Á®¤º°œ„´8SVLGH5HYHUVDOÁ¡¸¥ŠÂ˜n„¨´„´œ„¨nµª‡º°ÂœªÃœo¤¦³¥³­´ÊœÁž}œÂœªÃœo¤ ¹ÊœÂ¨³ ¦µ‡µ­¼Š­»—ª´œœ¸Ê„È­¼Š„ªnµ¦µ‡µ­¼Š­»—Á¤ºÉ°ªµœœ¸Ê˜n¦µ‡µžd—ª´œœ¸Ê„¨´˜Îɵ„ªnµ¦µ‡µžd—Á¤ºÉ°ªµœœ¸Ê +W!+W˜nWW ¦¼žš¸É8SVLGHDQG'RZQVLGH5HYHUVDOV 8SVLGH 5HYHUVDO 'RZQVLGH 5HYHUVDO
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- .H8SVLGH5HYHUVDO .5 ¨³.H'RZQVLGH5HYHUVDO .5 Áž}œ„¦–¸¡·Á«¬ °Š 8SVLGH ¨³ 'RZQVLGH 5HYHUVDOV Ž¹ÉŠ‹³Ä®o­´µ–¦Š„ªnµ „¨nµª‡º°Äœ„¦–¸ °Š .H 8SVLGH 5HYHUVDO œ°„‹µ„¦µ‡µ˜Îɵ­»—ª´œœ¸Ê‹³˜Îɵ„ªnµ¦µ‡µ˜Îɵ­»—Á¤ºÉ°ªµœœ¸Ê ˜n¦µ‡µžd—ª´œœ¸Ê­¼Š„ªnµÁ¤ºÉ°ªµœœ¸Ê —´ŠÄœ„¦–¸ °Š 8SVLGH5HYHUVDO¨oª¦µ‡µ­¼Š­»—ª´œœ¸Ê¥´Š­¼Š„ªnµ¦µ‡µ­¼Š­»—Á¤ºÉ°ªµœœ¸Ê°¸„—oª¥ /W/WW!W+W!+W ÁnœÁ—¸¥ª„´œÄœ„¦–¸ °Š.H'RZQVLGH5HYHUVDO‹³˜o°Š„µ¦ÁŠºÉ°œÅ Á¡·É¤ ¹Êœ°¸„°´œÁŠºÉ°œÅ ®œ¹ÉŠ‡º°¦µ‡µ˜Îɵ­»—ª´œœ¸Ê˜o°Š ˜Îɵ„ªnµ¦µ‡µ˜Îɵ­»—Á¤ºÉ°ªµœœ¸Ê +W!+WWW/W/W .H8SVLGH 5HYHUVDO .H'RZQVLG 5HYHUVDO ¦¼žš¸É.H8SVLGHDQG.H'RZQVLGH5HYHUVDOV œ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡µŠšnµœ°„ªnµ.5¨³.5‹³Ä®o­´µ–š¸É¤nœ¥Îµ™oµ®µ„nªŠª´œš¸ÉÁ„·—.5œ´Êœ¤¸ž¦·¤µ– „µ¦ŽºÊ° µ¥Âœnœ®œµÂ¨³­¼Š ¹Êœ°¥nµŠÁ®ÈœÅ—o´—˜nµŠšnµœ„ÈŤnÁ o¤Šª—„´„’ o°œ¸Êœ´„×¥ÁŒ¡µ³°¥nµŠ¥·ÉŠÁ¤ºÉ°Äo.5„´ Á‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡°ºÉœÇ ORVHRQ+LJK 2+ ¨³ORVHRQ/RZ 2/ ORVH2Q+LJK‡º°„µ¦š¸É¦µ‡µžd—ª´œœ¸Ê°¥¼nÄ„¨o„´¦³—´¦µ‡µ­¼Š­»— °Šª´œ¤µ„„¨nµª‡º°nªŠ‹µ„¦µ‡µ­¼Š­»—¨Š¤µ®µ¦µ‡µ žd—ŤnÁ„·œÅž„ªnµ °ŠnªŠ¦µ‡µ­¼Š­»—¤µ®µ¦µ‡µ˜Îɵ­»— + +/ @¡¼—Šnµ¥Çªnµª´œœ¸Êžd—š¸ÉÄ„¨o¦µ‡µ­¼Šœ´Éœ Á°Š ORVH2Q/RZ„ÈÁ®¤º°œ„´œ„¨nµª‡º°Áž}œ„µ¦š¸É¦µ‡µžd—Äœª´œœ¸ÊÅ—ožd—˜´ª°¥¼nÄ„¨o¦µ‡µ˜Îɵ­»—„¨nµª‡º°nªŠ‹µ„¦µ‡µžd—¨Š ¤µ®µ¦µ‡µ˜Îɵ­»—ŤnÁ„·œÅž„ªnµ °ŠnªŠ¦µ‡µ­¼Š­»—¤µ®µ¦µ‡µ˜Îɵ­»— / +/ @ ‡ªµ¤­Îµ‡´ °Š2+¨³2/ ¹Êœ°¥¼n„´‡ªµ¤¥µª °ŠÂšnŠ„¨nµª‡º°™oµÂšnŠ¥·ÉŠ¥µª2+¨³2/„È‹³¤¸‡ªµ¤­Îµ‡´ ¤µ„ ¹Êœ°¥nµŠÅ¦„È—¸­´µ– °Š2+¨³2/‡n°œ oµŠ°n°œ°¥¼n¤µ„œ³‡¦´Â˜n™oµœÎµ¤µž¦³„°„´œ„´­´µ–°ºÉœÇ
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- Ánœ55.5.5„ÈčoÁž}œ­´µ–¥ºœ¥´œ„µ¦Áž¨¸É¥œš·«šµŠ¦³¥³­´ÊœÅ—o‡¦´œ°„‹µ„œ¸Ê™oµÁ°µ2+„´2/­°Š ª´œ¤µ¦ª¤„´œ„È‹³Å—o­´µ–°¸„¦¼žÂ®œ¹ÉŠŽ¹ÉŠ‹³¡¼—Áž}œ®´ª o°˜n°Åž‡¦´ ¦¼žš¸ÉORVHRQ+LJKDQGORVHRQ/RZ +LJKWR/RZORVH6LJQDO +/ ¨³/RZWR+LJKORVH6LJQDO /+ +LJKWR/RZORVH6LJQDO‡º°„µ¦š¸Éª´œÂ¦„Á„·—ORVHRQ+LJK 2+ ¨³ª´œš¸É­°ŠÁ„·—ORVHRQ/RZ 2/ ˜µ¤¤µ š´œš¸­´µ–œ¸Ê­—Šªnµ˜¨µ—œnµ‹³¨Š %HDULVK ­nªœ/RZWR+LJKORVH6LJQDO„È„¨´„´œ‡º°ª´œÂ¦„Á„·—2/ ¨³ª´œš¸É­°Š„ÈÁ„·—2+š´œš¸Ž¹ÉŠ­´µ–„¦–¸®¨´ŠÂ­—Š™¹Š‡ªµ¤¡¥µ¥µ¤š¸É‹³„—¦µ‡µ¨ŠÄœª´œÂ¦„œ´ÊœÅ¤n­µ¤µ¦™šÎµ Å—o­ÎµÁ¦È‹Äœª´œš¸É­°Š œ°„‹µ„œ¸Ê¥´ŠÁ‹°Â¦ŠÄœš·«šµŠ˜¦Š„´œ oµ¤­ªœ¤µ°¸„˜nµŠ®µ„ „Èœnµ‹³Áž}œ­´µ– °Š„µ¦Áž¨¸É¥œ š·«šµŠœ°„‹µ„œ¸Ê+/¨³/+‹³Ä®o­´µ–š¸É¤nœ¥Îµ¤µ„ ¹Êœ™oµ®µ„„µ¦¢°¦r¤˜´ª °Š¤´œÁ„·—¤¸5®¦º°.5Á„·— ¹Êœ ¡¦o°¤Ç„´œ‡¦´ ¦¼žš¸É+LJKWR/RZORVH6LJQDODQG/RZWR+LJKORVH6LJQDO +LJKV + ¨³/RZV / °´œœ¸ÊÁž}œ¦¼žÂŠnµ¥Ç‡º°™oµ¦µ‡µžd—ª´œœ¸ÊÁž}œ¦µ‡µš¸É­¼Šš¸É­»—­Îµ®¦´¦µ‡µžd—Äœ¦°ª´œš¸ÉŸnµœ¤µ‹³Áž}œ+Ž¹ÉŠÁž}œ %XOOLVK6LJQDO˜n™oµ¦µ‡µžd—ª´œœ¸Ê˜Îɵ„ªnµ¦µ‡µžd—Äœ¦°ª´œš¸ÉŸnµœ¤µ‹³Áž}œ/Ž¹ÉŠÁž}œ%HDULVK6LJQDO°´œš¸É‹¦·Š +¨³/Á®¤µ³­Îµ®¦´œÎµ¤µÄo‡ª‡¼n„´„µ¦ª·Á‡¦µ³®rª´’‹´„¦ Ž¹ÉŠ‹³¡¼—™¹ŠÄœšš¸É ×¥ÁŒ¡µ³°¥nµŠ¥·ÉŠÁ¤ºÉ°Á„·— ­´µ–Ä„¨oÇ„´nªŠ °Š„µ¦Áž¨¸É¥œš·«šµŠ °Šª´’‹´„¦ + +/ / + +/ + +/ / / +/ ORVH RQ /RZ 2/ ORVH RQ +LJK 2+ +LJK WR /RZ ORVH 6LJQDO /RZ WR +LJK ORVH 6LJQDO +/ /+
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- + / ¦¼žš¸É+LJKVDQG/RZV ÂœªÃœo¤ ®¨´Š‹µ„Á oµÄ‹ª·›¸„µ¦Á ¸¥œ„¦µ¢ÁºÊ°Š˜oœÂ¨oª ­·ÉŠš¸Éœnµ‹³¦¼o˜n°Åž „ȇº°Á¦ºÉ°Š °ŠÂœªÃœo¤ WUHQG š¸É¦µ‡µ®»oœ®¦º°—´œ¸‹³ Á‡¨ºÉ°œ˜´ªÅžŽ¹ÉŠž„˜·‹³¤¸¦¼žÂ‡º°XSWUHQGGRZQWUHQG¨³VLGHZDVªnµ¤´œ®¤µ¥‡ªµ¤ªnµ°¥nµŠÅ¦Â¨³—¼°¥nµŠÅ¦ „´œœ³ 8SWUHQG ‡º°ÂœªÃœo¤ ¹Êœ Ž¹ÉŠŸ¼o°nµœ°µ‹‹³‹·œ˜œµ„µ¦ÅžÄœ¦¼ž °Š ´Êœ´œÅ— µ ¹Êœ š¸Éš»„LJœ¡¦o°¤š¸É‹³„oµª„´œ ¹ÊœÅž ŞŮœ „ÈŞĜ¦³—´š¸É°¥¼n­¼Š„ªnµ˜°œœ¸ÊÅŠ ÄœÁ·Š °Š®»oœ „ÈÁž}œ„µ¦¸Ê™¹Š ¦µ‡µ®»oœ¤¸ÂœªÃœo¤­¼Š ¹Êœ Ž¹ÉŠ‹µ„„¦µ¢„È ­µ¤µ¦™Â­—ŠÅ—o—´Š¦¼žš¸ÉÄœšµŠÁš‡œ·‡Á µ°„ªnµ‹³Áž}œXSWUHQGœ´Êœ˜o°Š¤¸»‡¨·„ÁŒ¡µ³˜´ª—´Šœ¸Ê„¨nµª‡º°¥°—Ä®¤n ­¼Š„ªnµ¥°—Á—·¤„oœ¹ÊŠÄ®¤n­¼Š„ªnµ„oœ¹ÊŠÁ—·¤¢{ŠÂ¨oª°µ‹‹³Á¦·É¤Áª¸¥œ®´ª¨°Š¡·‹µ¦–µ‹µ„¦¼žš¸É°µ‹‹³nª¥Ä®o®µ¥¤¹œ ŞŗooµŠ ¥°—Ä®¤n ­¼Š„ªnµ¥°—Á—·¤ „oœ¹ÊŠÄ®¤n ­¼Š„ªnµ„oœ¹ÊŠÁ—·¤ ¦¼žš¸É8375(1' 'RZQWUHQG Áž}œ­·ÉŠš¸É˜¦Š„´œ oµ¤„´š¸É„¨nµª¤µ oµŠ˜oœ‡º°Áž}œ´œÅ— µ¨ŠÄœÁ·Š®»oœ„ÈÁž}œ„µ¦Â­—Š™¹Š¦µ‡µ ®»oœ¤¸ÂœªÃœo¤°n°œ˜´ª¨Š°¥¼n ¦¼žš¸É ÄœšµŠÁš‡œ·‡GRZQWUHQG¤¸»‡¨·„ÁŒ¡µ³˜´ª‡º°¥°—Ä®¤n°¥¼n˜Îɵ„ªnµ¥°—Á—·¤„oœ¹ÊŠ Ä®¤n°¥¼n˜Îɵ„ªnµ„oœ¹ÊŠÁ—·¤
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ¦¼žš¸É'2:175(1' Á¡ºÉ°Ä®oÁ®Èœ£µ¡š¸ÉÁ—nœ´—¤µ„ ¹Êœ¨°Š¤µ—¼˜´ª°¥nµŠš¸É­·‡¦´‹³Á®ÈœÅ—oªnµ®¨´„„µ¦¤°ŠÂœªÃœo¤ ¹Êœ XSWUHQG „´ÂœªÃœo¤ µ¨Š GRZQWUHQG ­µ¤µ¦™œÎµ¤µÄoÅ—o°¥nµŠÅ¤n˜o°Š­Š­´¥ ˜´ª°¥nµŠš¸É 6LGHZDV Áž}œ„µ¦Á‡¨ºÉ°œ˜´ªÅž jµŠÇ Á¡ºÉ°¦°—¼š·«šµŠš¸ÉÂœn´— ¦¼žÂ °Š VLGHZDV „Ȥ¸¨´„¬–³‡¨oµ¥¢{œ ž¨µ ¦¼žš¸É ×¥š¸É„µ¦ ¥´˜´ª °Š¤´œœ´Êœ­´ŠÁ„˜Å—o‹µ„„µ¦š¸É¥°—Ä®¤n„È¥´ŠÅ¤n„¨oµÁ„·œ®œoµÁ„·œ˜µ®¦º°¥´ŠÅ¤nÁ¨¥¦¦—µ ¥°—Á¡ºÉ°œÇš¸ÉÁ¡·ÉŠ‹³Ÿnµœ¤µ ˜n °Á¡¸¥ŠÂ‡n°¥¼nÄœ¦³—´Á—¸¥ª„´œ„È¡° ÁnœÁ—¸¥ª„´œ Áª¨µ µ¨Š Á¦ºÉ°Š°³Å¦š¸É‹³¨ŠÅž˜Îɵ„ªnµ ¦¦—µ„oœ¹ÊŠ oµŠÁ‡¸¥Šš¸ÉŸnµœ¤µ‹¹Š °Â‡n¤µªµŠ˜´ªÁšnµ„´œ®¦º°Ä„¨oÁ‡¸¥Š„´œ„È¡° ¥°—Ä®¤n ˜Îɵ„ªnµ¥°—Á—·¤ „oœ¹ÊŠÄ®¤n ˜Îɵ„ªnµ„oœ¹ÊŠÁ—·¤
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ¦¼žš¸É6LGHZDV ˜´ª°¥nµŠš¸É ÁnœÁ—¸¥ª„´œ‡¦´ ˜´ª°¥nµŠ„µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µ®»oœ Á‡¨ºÉ°œ˜´ªÅž jµŠÇ VLGHZDV Á¦µ„Ȥ¸˜´ª°¥nµŠÄ®o—¼ —oª¥Ánœ„´œŽ¹ÉŠÄœ˜´ª°¥nµŠš¸ÉŸ¼o°nµœ‡Š‹³Á®ÈœÅ—oªnµ ¦¼žÂÃ—¥¦ª¤œ´ÊœÁž}œ VLGHZDV ˜n„È°µ‹‹³¤¸µŠšnµœš¸ÉÁ®Èœªnµ ¥°—š¸É¨³Å¤nÁ®Èœ‹³Ášnµ„´¥°—š¸É®µ„˜n¨°Š¤°Š¤µšµŠ ªµ¤º°Á¨È„œo°¥®¨´Š‹µ„¥°—š¸É„È‹³¡ªnµ„µ¦Á‡¨ºÉ°œ Å®ª °Š¦µ‡µœ´Êœ¥´Š‡Š°¥¼nÄ„¨oÁ‡¸¥ŠÂœª °Š¥°—š¸É°¥¼n—´Šœ´ÊœÄœÂŠnž‘·´˜·œ´Êœ°µ‹‹³Å¤nčnÁ¦ºÉ°ŠŠnµ¥œ´„š¸É„µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µ ‹³¤¸„µ¦Ášnµ„´œ¡°—·¡°—¸˜¦Š„´®¨´„„µ¦ ˜n®µ„£µ¡Ã—¥¦ª¤¥´Š‡Š¦´„¬µÂœª—´Š„¨nµªÅªoÅ—o „ÈÁšnµ„´ªnµ Á¦µ ­µ¤µ¦™œÎµ®¨´„š¸É„¨nµª¤µ oµŠ˜oœ¤µž¦³¥»„˜rčoÅ—o ¥°—Ä®¤n Ášnµ„´®¦º°Ä„¨oÁ‡¸¥Š„´¥°—Á—·¤ ¨³ „oœ¹ÊŠÄ®¤n Ášnµ„´®¦º°Ä„¨oÁ‡¸¥Š„´„oœ¹ÊŠÁ—·¤ ¨³
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- Á­oœÂœªÃœo¤ °¥nµŠÅ¦„Șµ¤„µ¦¨Š¤º°šÎµ„µ¦ª·Á‡¦µ³®rœ´Êœ„µ¦š¦µÁ¡¸¥ŠÂ‡n¦¼žÂ oµŠ˜oœœ´Êœ°µ‹‹³¥´ŠÅ¤nÁ¡¸¥Š¡°—oª¥Á®˜»š¸ÉªnµµŠ ‡¦´ÊŠÁ¦µ‹ÎµÁž}œ˜o°Š„ε®œ—‹»—ŽºÊ° ‹»— µ¥ ¹Êœ¤µ Á¦µ‹³¦¼oÅ—o°¥nµŠÅ¦ªnµ ŽºÊ°Á¤ºÉ°Å¦ –³š¸ÉÂœªÃœo¤Áž}œ XSWUHQG ‡Îµ˜°š¸É ®¨µ¥‡œ‡Š‹³˜°„´œ „ȇŠÁž}œªnµ ŽºÊ°˜°œž¦´˜´ª¨Š­· Ÿ¤„ȇŠ‹³™µ¤˜n°Åžªiµ ž¦´˜´ª¨Š œµ—Å®œš¸É‹³¥°¤¦´Å—oÄœÁ·Š XSWUHQGœ´Éœœ³­·®¨´„®¦º°ª·›¸„µ¦š¸É‹³Â„ož{®µ—´Š„¨nµª„ȇº°„µ¦ÄoÁ­oœÂœªÃœo¤ WUHQGOLQH Ž¹ÉŠ‹³Áž}œÁ‡¦ºÉ°Š¤º°š¸É¤¸‡»– ‡nµ­Îµ®¦´„µ¦ª·Á‡¦µ³®r˜µ¤ÂœªÃœo¤ ‹µ„ oµŠ˜oœš¸ÉÁ¦µÅ—oÂ¥„ÂœªÃœo¤°°„Áž}œ  —´Šœ´ÊœÁ­oœÂœªÃœo¤š¸É‹³Äo‹¹Š¤¸ ¨´„¬–³˜µ¤Åž—jª¥‡º° 3DUDOOHO /LQH 8SWUHQG /LQH ¦¼žš¸É8SWUHQG/LQH 8SWUHQGOLQH®¨´„„µ¦„ÈŤnÅ—o¥»nŠ¥µ„°³Å¦®¦°„‡¦´Á¡ºÉ°Ä®o­³—ª„Äœ„µ¦°›·µ¥Ä®o—¼‹µ„¦¼žš¸ÉÁ¨¥—¸„ªnµ „¨nµª‡º°Á¦·É¤Â¦„œ´Êœ Á¦µ‹³¨µ„Á­oœ‹µ„‹»—š¸É Åž‹»—š¸É ×¥ž¨i°¥Ä®o­nªœž¨µ¥ °ŠÁ­oœÁ¨¥‹»—š¸É Åž Á—¸Ì¥ª‹³°„ªnµ šÎµÅ¤ Á­oœœ¸Ê®¨³š¸ÉÁž}œXSWUHQGOLQH­Îµ®¦´„µ¦š¸É‹³¤¸œ´¥­Îµ‡´ °ŠÁ­oœœ¸Ê®¦º°ªnµ„´œŠnµ¥Ç‡º°®œ´ŠÁ®œ¸¥ª¡°‡ª¦®¦º°Å¤n œ´Êœ‹³Á¦·É¤ª´—„´œš¸É®¤µ¥Á¨ Ž¹ÉŠ™oµ¦µ‡µ­µ¤µ¦™—¸—˜´ª ¹ÊœÅ—oš¸É®¤µ¥Á¨ œ´ÉœÂ®¨³‹³Áž}œ­·ÉŠš¸É¸Ê™¹Š„µ¦¤¸œ´¥­Îµ‡´ °Š XSWUHQG OLQH —´Šœ´Êœ ™oµ®µ„¦µ‡µ¤¸„µ¦ž¦´˜´ª¨Š¤µÄ„¨oÁ­oœœ¸Ê°¸„‡¦´ÊŠ „È‹³Äo¦³—´š¸É‡µ—„µ¦–rœÁ­oœœ¸Ê Áž}œ‹»—š¸ÉčoÄœ „µ¦Á oµo°œ¦´®»oœ°¸„Ánœ®¤µ¥Á¨ 'RZQWUHQG OLQH ®¨´„„µ¦‹³„¨´„´ oµŠ˜oœ ĜŠnš¸Éªnµ „µ¦¨µ„Á­oœ‹³Äo¥°—Á„nµ„´¥°—Ä®¤nÁž}œ‹»—Äœ„µ¦ ¨µ„Á­oœ—¼¦¼žš¸É—¸„ªnµ‡º°Á¦·É¤¨µ„‹µ„‹»—Åž‹»—š¸É ™oµ­´ŠÁ„˜‹³¡ªnµ‹»—¨³Äœš¸Éœ¸Ê‹³Áž}œ‹»—¥°—Ž¹ÉŠ˜nµŠ ‹µ„Äœ„¦–¸ °Š XSWUHQG Äœ¦¼žš¸É Ž¹ÉŠ‹³Áž}œ‹»—„oœ¹ÊŠ œ´ÉœÂ®¨³Áž}œ o°Â˜„˜nµŠÄœ„µ¦­¦oµŠ WUHQG OLQH ĜŠn °Š XSWUHQG¨³GRZQWUHQG„µ¦ª´—œ´¥­Îµ‡´‹³—¼„´œš¸É®¤µ¥Á¨ Ž¹ÉŠ™oµ¦µ‡µ®»oœÅ¤n­µ¤µ¦™ oµ¤Á­oœGRZQWUHQGOLQH ¹Êœ Şŗo¨³¤¸„µ¦ž¦´˜´ª¨Š˜µ¤¤µÁ¦µ‹³Á¦¸¥„GRZQWUHQGOLQHÁ­oœœ¸Êªnµ¤¸œ´¥­Îµ‡´—´Šœ´Êœ™oµ®µ„ªnµ¦µ‡µ ¹Êœ¤µš—­° Á­oœœ¸Ê°¸„‡¦´ÊŠ–‹»—š¸É„ÈÁž}œ¦³—´š¸É‡µ—ªnµ‹³¤¸Â¦ŠÁš µ¥°°„¤µŽ¹ÉŠ™oµ®µ„ªnµ‹»—š¸É¥´ŠÅ¤n­µ¤µ¦™š³¨»GRZQWUHQGOLQH Å—o„È‹³¥·ÉŠÁ¡·É¤‡ªµ¤Â Ȋ„¦nŠÄ®o„´Á­oœGRZQWUHQG¤µ„¥·ÉŠ ¹ÊœÅž°¸„
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- 'RZQWUHQG /LQH 3DUDOOHO /LQH ¦¼žš¸É'RZQWUHQG/LQH œ°„Á®œº°‹µ„WUHQGOLQHš¸É„¨nµª oµŠ˜oœ¤¸®¨µ¥‡¦´ÊŠš¸É‹ÎµÁž}œ˜o°Š­¦oµŠÁ­oœ‡¼n œµœ SDUDOOHOOLQH ¹Êœ¤µ—oª¥Á®˜»Ÿ¨š¸Éªnµ¤¸ ®¨µ¥„¦–¸š¸É¦µ‡µ¤¸„µ¦Á‡¨ºÉ°œÅ®ª°¥¼nÄœ„¦° °ŠÁ­oœ‡¼n œµœ°¥nµŠÁ®ÈœÅ—o´— —¼¦¼žš¸É ‹¹ŠšÎµÄ®oÁ„·—«´¡šršµŠÁš‡œ·‡ ¹Êœ¤µ°¸„‡Îµ‡º° FKDQQHO Äœš¸Éœ¸Ê‹³Á¦¸¥„ªnµ šn°„µ¦Å®¨˜´ª Ťn¦¼oªnµ‹³šÎµÄ®oÁ®Èœ£µ¡´— ¹Êœ®¦º°Áž¨iµ ®¨´„„µ¦¨µ„Á­oœ‡¼n œµœ„ÈŤn¥»nŠ¥µ„Á¨¥‹µ„¦¼žš¸É„Èčo‹»—š¸ÉÁž}œ‹»—Á¦·É¤Â¨oª¨µ„Á­oœ œµœ„´XSWUHQGOLQHÁnœÁ—¸¥ª„´¦¼žš¸É š¸Éčo‹»—š¸ÉÁž}œ‹»—Á¦·É¤¨µ„Á­oœ œµœ„´GRZQWUHQGOLQHŽ¹ÉŠÁ­oœ—´Š„¨nµª‹³šÎµ®œoµš¸ÉÁž}œÂœª˜oµœÄœ¦¼žš¸É¨³‹³šÎµ ®œoµš¸ÉÁž}œÂœª¦´­Îµ®¦´¦¼žš¸É 6LGHZDV‡º°„µ¦Á‡¨ºÉ°œÅ®ª°¥nµŠÅ¤n¤¸š·«šµŠ‡º°Å¤n ¹Êœ°¥nµŠÁ—nœ´—¨³„ÈŤn¨Š°¥nµŠÁ—nœ´——´Šœ´ÊœWUHQGOLQH Äœ„¦–¸ °ŠVLGHZDV‹³‡n°œ oµŠÁ¦¸¥¦µ œµœÅž„´¡ºÊœ IODW ¨³FKDQQHOÄœ„¦–¸ °ŠVLGHZDV„È‹³Áž}œÁ®¤º°œ šn°š¸ÉªµŠ œµœ„´¡ºÊœ¢{ŠÂ¨oªŠŠ—¼‹µ„¦¼žš¸Éœnµš¸É‹³®µ¥¤¹œ¨ŠÅžÅ—o®œn°¥œ¹ŠÁ¡¦µ³‹³Á®ÈœÅ—oªnµ„µ¦Å®¨˜´ª °Š¦µ‡µ ®¦º°—´œ¸„ȨoªÂ˜n ‹³°¥¼n£µ¥Ä˜ošn°„µ¦Å®¨˜´ªš¸ÉªµŠ˜´ªÄœÂœªœ°œ Ž¹ÉŠ„µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µ˜µ¤šn°„µ¦Å®¨˜´ªÅž jµŠÇ ˜µ¤Âœªœ°œœ¸Ê®¨³Áž}œš¸É¤µ °ŠºÉ°VLGHZDV 1 2 3 4 5 6 ¦¼žš¸É6LGHZDKDQQHO ˜´ª°¥nµŠš¸É ¨³ Áž}œÁ­¤º°œ£µ¡œ·ÉŠÄœnªŠÁª¨µ®œ¹ÉŠÇ ×¥˜´ª°¥nµŠš¸É œ´ÊœÁ„·— ¹Êœ„n°œ ¨³‹³Á®ÈœÅ—oªnµ ®¨´„ Á„–”rÄœ„µ¦¨µ„Á­oœÂœªÃœo¤ µ ¹Êœ XSWUHQG ¨³Á­oœ‡¼n œµœ µ ¹Êœ SDUDOOHOOLQH Å—o™¼„œÎµ¤µž¦³¥»„˜rčo¨³–nªŠ Áª¨µ °Š˜´ª°¥nµŠš¸Éœ´Êœ¦µ‡µ®»oœ„ε¨´Š ¥´˜´ª ¹Êœ°¥¼n¨³¤¸ÂœªÃœo¤š¸É°¥µ„‹³š—­°Âœª °ŠÁ­oœ‡¼n œµœœ¸ÊÁ®¨º°Á„·œ ¨oªÁž}œÅŠ¨n³Á¤ºÉ°¤µ™¹Š‹»—š¸É °Š˜´ª°¥nµŠš¸ÉŽ¹ÉŠÁž}œ–nªŠÁª¨µš¸É™´—¤µ‹µ„˜´ª°¥nµŠš¸É­´ŠÁ„˜Å—o‹µ„š¸É„œœ°œ °Š„¦µ¢˜°œœ¸Ê¤¸™¹ŠÁ—º°œ›´œªµ‡¤ Äœ –³š¸É˜´ª°¥nµŠš¸É­·Êœ­»—Á¡¸¥ŠÂ‡nÁ—º°œ„´œ¥µ¥œ ¦µ‡µ®»oœ„ÈÅ—o¤¸„µ¦ž¦´˜´ª¨Š
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- —´Šœ´ÊœŸ¼o¨Šš»œµŠšnµœ ‹¹ŠÄoÁ­oœ‡¼n œµœÁž}œ‹»—šÎµ„εŦ¦³¥³­´Êœ ®¦º°‹»— µ¥®»oœ°°„ Á¡ºÉ°š—­°„ε¨´Š °Š®»oœ „ȨoªÂ˜n Á¡ºÉ°—¼ªnµ®»oœ˜´ªœ¸Ê‹³¤¸Â¦Š¡°š¸É‹³ oµ¤ÂœªÁ­oœ‡¼n œµœœ¸Ê ¹ÊœÅžÅ—o®¦º°Å¤nŽ¹ÉŠ˜´ª°¥nµŠš¸Éœ¸Ê„ε¨´Š °Š®»oœÅ¤n¡°š¸É‹³ oµ¤Á­oœ ‡¼n œµœ—´Š„¨nµª‹¹ŠšÎµÄ®o¤¸Â¦Š µ¥®¦º°¦³µ¥®»oœ°°„¤µ°¥nµŠÅ¦„Șµ¤°¥µ„ µ„Á˜º°œÁ°µÅªoªnµÄœµŠ‡¦´ÊŠœ´Êœ¦µ‡µ®»oœ °µ‹‹³¤¸„ε¨´Š¤µ„¡°š¸É‹³ oµ¤Âœª °ŠÁ­oœ‡¼n œµœ ¹ÊœÅž ‹¹ŠšÎµÄ®o¡ª„š¸ÉÁ¡·ÉŠ¨°ŠšÎµ„εŦ¦³¥³­´Êœ °µ‹‹³˜o°Š„¨´Á oµ¤µ Áž}œŸ¼oŽºÊ° Ž¹ÉŠÁž}œÅž˜µ¤®¨´„Á„–”r °ŠÂœª˜oµœ„¨µ¥Áž}œÂœª¦´ š¸É‹³Å—o„¨nµªÁ¡·É¤Á˜·¤˜n°ÅžÄœ­nªœ °ŠÁ¦ºÉ°ŠÂœª¦´Âœª ˜oµœ ˜´ª°¥nµŠš¸É ˜´ª°¥nµŠš¸É
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ˜´ª°¥nµŠš¸É ˜´ª°¥nµŠš¸É Äœ˜´ª°¥nµŠš¸É¨³œ´Êœ„ÈÁž}œ„¦–¸š¸É„¨´„´œ„´˜´ª°¥nµŠš¸É¨³ °Š¤´œÂœn°¥¼n¨oªÄnÅ®¤‡¦´„ȚεŤ‹³Å¤n čn¨³‡¦´ ÄœÁ¤ºÉ°˜´ª°¥nµŠš¸É ¨³ œ´ÊœÁž}œ„¦–¸ °Š µ¨Š GRZQWUHQG ˜n˜´ª°¥nµŠš¸É ¨³ Áž}œ µ ¹Êœ XSWUHQG ˜n®¨´„Á„–”rÄœ­nªœ °ŠÂœªÃœo¤ µ¨Š¦ª¤™¹ŠÁ­oœ‡¼n œµœœ´Êœ¥´Š‡ŠÄoÅ—oŤn¤¸ž{®µÂ˜n™oµµŠšnµœ¥´Š­Š­´¥ªnµ Á­oœÁ®¨nµœ¸Ê¤µ‹µ„Å®œ¨°Š¡¨·„„¨´Åž—¼Äœ­nªœ °Š„µ¦­¦oµŠÁ­oœÂœªÃœo¤Â¨³Á­oœ‡¼n œµœ°¸„š¸®¦º°®¨µ¥Çš¸„ÈÅ—o‡¦´Á¡ºÉ° ‡ªµ¤ÎµœµÂ¨³Â¤nœ¥ÎµÄœª·›¸„µ¦
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ˜´ª°¥nµŠš¸É ­Îµ®¦´˜´ª°¥nµŠš¸É‹³Áž}œ˜´ª°¥nµŠ °ŠVLGHZDVFKDQQHOŽ¹ÉŠ‹³Á®ÈœÅ—oªnµ¦µ‡µ®»oœœ´Êœ¤¸„µ¦Å®¨Áª¸¥œ®¦º°Â„ªnŠ˜´ª°¥¼n Äœ °‹Îµ„´—„µ¦Â„ªnŠ˜´ª µ ¹Êœ XSSHUERXQGDU ¨³ °‹Îµ„´— °Š„µ¦Â„ªnŠ˜´ª¨Š ORZHUERXQGDU ‡ªµ¤´œÂ¨³„µ¦—¸—˜´ª 6ORSHDQG5HWUDFHPHQW °¥nµÁ¡·ÉŠÁ®œºÉ°¥Á­¸¥„n°œœ³‡¦´ Á¡¦µ³œ¸ÉÁž}œÁ¡¸¥Š‹»—Á¦·É¤˜oœ °Š®œšµŠÄœ„µ¦®µ‹´Š®ª³Á oµ°°„‹µ„®»oœ Ž¹ÉŠÁž}œ­·ÉŠš¸ÉŸ¼o°nµœ ˜o°Š„µ¦°¥µ„‹³š¦µÂ˜n˜oœÅ¤nčn®¦º°‡¦´ Á°µ¨n³Â¤oªnµÁ¦µ‹³¦¼o™¹ŠÂœªÃœo¤Â¨³„µ¦Áž¨¸É¥œÂœªÃœo¤˜¨°—‹œ­´µ–ŽºÊ° µ¥ÁºÊ°Š˜oœÂ¨oªÂ˜n„µ¦Á™¦˜¦ŠÁ„·œÅž„È°µ‹ ‹³Å¤n‡n°¥—¸ÁšnµÅ¦„µ¦¡¨·„¡¨Šœ´ÊœÁž}œ­·ÉŠ‹ÎµÁž}œÂ¨³¤¸ž¦³Ã¥œr¤µ„­Îµ®¦´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Á®˜»š¸É„¨nµªÁnœœ¸Ê„È Á¡ºÉ°š¸É‹³Ã¥ŠÅž­¼n„µ¦ž¦´‡ªµ¤¨µ—Á°¸¥Š®¦º°£µ¬µ ¦´ÉŠš¸ÉÁ¦¸¥„„´œªnµVORSH]] °ŠWUHQGOLQH ¦¼žš¸ÉD ¦¼žš¸ÉE 5HWUDFHPHQWV
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ‹µ„¦¼žš¸ÉD‹³Á®ÈœÅ—oªnµWUHQG¤¸Å—o®¨µ¥Á­oœÂ¨³¤¸„µ¦ž¦´WUHQGÅžÁž}œ¤»¤˜nµŠÇŤnčnªnµWUHQG‹³¤¸°¥¼nÁ¡¸¥ŠÁ­oœ Á—¸¥ª‹³¨µ„°¥nµŠ°ºÉœÅ¤nÅ—o ¨oª„Èčo„´œÁ­oœÁ—¸¥ª˜³¡¹—˜³¡º° ­nªœ®¨´„Á„–šrÄœ„µ¦¨µ„Á­oœœ´Êœ°µ‹‹³¤¸®¨µ„®¨µ¥ª·›¸ ˜nš¸Éœ·¥¤Áž}œ­nªœÄ®n‡ª¦š¸É‹³Á oµÄ‹„’ °Š„µ¦ž¦´˜´ª®¦º°š¸ÉÁ¦¸¥„ªnµUHWUDFHPHQW Á°µ®¨´„š¸É­Îµ‡´Åªo¨oª„´œœ³ ‹µ„¦¼žš¸É E Á µ°„ªnµÁ¤ºÉ°¦µ‡µÅ—o ¹Êœ¤µ™¹Š¦³—´®œ¹ÉŠ ­¤¤˜·ªnµ µš ¨oª„Ȥ¸„µ¦ž¦´˜´ª¨Š ¦³—´š¸É¦µ‡µ‹³¤¸ ð„µ­—¸—˜´ª„¨´Åž®µÂœªÃœo¤Á—·¤œnµ‹³Á„·—š¸É¦·Áª–®¦º°Ã—¥ž¦³¤µ–„¨nµª‡º°™oµ¦µ‡µž¦´˜´ª¨Š ®¨´Š‹µ„š¸É ¹Êœ¤µÅ—oµš„Èœnµ‹³—¸—˜´ª„¨´ ¹Êœ¤µÅ—o®¨´Š‹µ„š¸É¨ŠÅžµš ˜n™oµ¨Š¤µµšÂ¨oª¥´Š‡Š ¨Š˜n°Åž°¸„Âœª¦´˜n°Åž„ȇŠ‹³¨ŠÅžÅ—o™¹Šµš „Èœnµ‹³—¸—˜´ª ˜nœ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡µŠ‡œÅ¤n‡n°¥Ä®o ‡ªµ¤­Îµ‡´„´¦³—´¤µ„Ášnµ„´¦³—´Â¨³ ˜n™oµµšÂ¨oª¥´ŠÁ°µÅ¤n°¥¼n°¸„¥´ŠÅŠ„ÈŤnœnµ‹³Á„·œ µš Á¡¦µ³™oµÁ„·œœ¸ÊŞð„µ­š¸ÉÂœªÃœo¤‹³Áž¨¸É¥œ ‹µ„ÂœªÃœo¤ ¹ÊœÁž}œÂœªÃœo¤¨Š „Ȥ¸­¼Š¤µ„¨oª‡¦´Á˜¦¸¥¤˜´ª Á˜¦¸¥¤Ä‹­Îµ®¦´„µ¦Áž¨¸É¥œÂœªÃœo¤ÅªoÅ—oÁ¨¥ ®¦º° ®¦º° ¦¼žš¸É6SHHG/LQHV „’°´œœ¸Ê™¼„œÎµÅžž¦³¥»„˜rčoÄœ„µ¦­¦oµŠVSHHGOLQH ¦¼žš¸É Ž¹ÉŠ„ÈÁž}œWUHQGOLQH®œ¹ÉŠœ´ÉœÁ°ŠÁ¡¸¥ŠÂ˜nªnµÁ µ¤¸„’ Äœ„µ¦¨µ„—´Šœ¸Ê‡º°Á µ‹³ÂnŠ‡ªµ¤­¼Š°°„Áž}œ­nªœ‹µ„‹»—š¸É¦µ‡µ –³œ¸ÊÁ‡¨ºÉ°œ˜´ª°¥¼n „´“µœ Ž¹ÉŠ“µœœ´Êœ„ÈÁž}œ ¦³—´š¸É‹»—Á¦·É¤˜oœªµŠ˜´ª°¥¼n —´Šœ´Êœ‹³¤¸Á­oœWUHQGÁ„·— ¹ÊœÁ­oœ‹¦·ŠÅ®¤‡¦´Á­oœ®œ¹ÉŠÂ­—Š¦³—´°¸„Á­oœ®œ¹ÉŠÂ­—Š ¦³—´œ¸É„ÈÁž}œ˜´ª°¥nµŠ®œ¹ÉŠ °Š„µ¦ž¦´Ä®oÁ„·—‡ªµ¤Á®¤µ³­¤Äœ„µ¦ÄoWUHQGOLQH ˜´ª°¥nµŠ‹¦·ŠÇ °Š„µ¦ž¦´Á­oœÂœªÃœo¤„Ȥ¸Ä®oÁ®Èœœ³‡¦´‹µ„˜´ª°¥nµŠš¸ÉÁ®ÈœÅ—oªnµÁ­oœÂœªÃœo¤š¸É¨µ„œ´Êœ˜nµŠ¤¸‡ªµ¤ ´œ VORSH š¸É¨—®¨´Éœ„´œÅž˜µ¤Â˜n­™µœ„µ¦–r˜n­·ÉŠ®œ¹ÉŠš¸ÉÁ¨ÈŠÁ®ÈœÅ—o‹µ„˜´ª°¥nµŠ„ȇº°š»„‡¦´ÊŠÁ¤ºÉ°¦µ‡µ®»oœÅ—o¤¸„µ¦°n°œ ˜´ª¨Š¤µœÁ­oœÂœª¦´‹µ„WUHQGOLQH°¥nµŠœo°¥¤´œ„Ȥ¸„µ¦—¸—˜´ª ¹Êœ®¦º°š¸ÉÁ¦¸¥„„´œªnµUHERXQGÄ®oÁ®ÈœŽ¹ÉŠµŠ‡œ°µ‹‹³ čoÁž}œnªŠ‹´Š®ª³Äœ„µ¦°°„˜´ª‹µ„˜¨µ— ×¥„µ¦¦³µ¥®»oœ˜°œš¸É¤¸„µ¦—¸—˜´ª ¹Êœ Ž¹ÉŠ‹³Á®¤µ³„´„¦–¸š¸ÉÂœªÃœo¤Áž}œ GRZQWUHQG˜n™oµ®µ„ÂœªÃœo¤Áž}œXSWUHQG®¦º°„ε¨´Š‹³Áž¨¸É¥œ‹µ„GRZQWUHQGÁž}œXSWUHQG榚¸É°°„‹µ„˜¨µ—„È °µ‹‹³‹q°¥Å—oÁ¡¦µ³Á¤ºÉ° µ¥ÅžÂ¨oª®µ„¦µ‡µ®»oœÁž}œXSWUHQG‡œš¸ÉÁ¡·ÉŠ µ¥Åž„Ȥ´„‹³¦o°Šªnµ—¼­·™º°¤µ˜´ÊŠœµœ¡° µ¥ Åž¦µ‡µ—´œª·ÉŠ ¹ÊœÅž­¼Š„ªnµš¸É µ¥—´Šœ´ÊœÄœ„µ¦ µ¥‡ª¦¡·‹µ¦–µÄ®o™¼„‹´Š®ª³œ³‡¦´
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ˜´ª°¥nµŠš¸É nªŠÁª¨µ „µ¦¡¼—‡»¥„´œ °Šœ´„¨Šš»œµŠ‡¦´ÊŠ °µ‹‹³˜o°Š„¨´„¨µ¥Áž}œ„µ¦œ´ÉŠš³Á¨µ³ÄœÁ¦ºÉ°Šš¸ÉŤnÁž}œÁ¦ºÉ°Š°¥¼nÅ—oÁž}œœµœ­°Šœµœ Á¨¥ Á¡¦µ³„µ¦¤°Š XSWUHQG GRZQWUHQG ¨³ VLGHZDV ®¨µ¥˜n°®¨µ¥‡¦´ÊŠ Å—o¨º¤Á¦ºÉ°ŠnªŠÁª¨µ„´œÅž nªŠÁª¨µš¸É ¡·‹µ¦–µÅ¤nÁšnµ„´œ ˜´ª°¥nµŠÁnœœ´„¨Šš»œ‡œÂ¦„°µ‹‹³¤°ŠªnµÂœªÃœo¤ °Š®»oœ¥´Š‡ŠÅªoŽ¹ÉŠXSWUHQG°¥¼n˜n‡œš¸É°µ‹‹³ ¤°Šªnµ¤´œ‹³Áž}œ XSWUHQG Å—oÅŠ š´ÊŠÇš¸ÉÄœnªŠš¸ÉŸnµœ¤µ¦µ‡µÅ—ož¦´˜´ª¨Š¤µ Ž¹ÉŠ‹¦·ŠÇ¨oª‡Îµ¡¼— °Šœ´„¨Šš»œ‡œÂ¦„Á µ„È ™¼„ –³š¸É‡Îµ¡¼— °Š‡œš¸É„ÈŤnÅ—oŸ·—°³Å¦—´Šœ´Êœ¤´œÁž}œÁ¡¦µ³Á®˜»Ä—„´œÁ¨nµ„ÈÁž}œÁ¡¦µ³œ´„¨Šš»œ‡œÂ¦„Á µ¤°ŠÂœª Ãœo¤ œµ—¦³¥³Áª¨µžeÄœ –³š¸É‡œš¸É¤°ŠÁ¡¸¥ŠÂ‡n­´ž—µ®rš¸ÉŸnµœ¤µÁšnµœ´ÊœÁ°Š —´Šœ´Êœ ‹¹Š‡Š˜o°Š¤µœ´ÉŠ ‡·—„´œªnµ ¦³¥³­´Êœ ¦³¥³žµœ„¨µŠ ¨³¦³¥³¥µª ¤´œ‡ª¦‹³¤¸¦³¥³Áª¨µ­´„ÁšnµÄ— „¨nµª‡º°Äœ ­µ¥˜µµŠ‡œ°µ‹‹³¤°ŠªnµLQWHUPHGLDWHWHUP°µ‹‹³Áž}œ‡¦¹ÉŠže –³š¸É°¸„‡œ¤°ŠªnµÁž}œ¦³¥³Áª¨µÁ¡¸¥ŠÂ‡nÁ—º°œ ×¥®¨´„„µ¦ÁºÊ°Š˜oœÄœš¸Éœ¸Ê‹³ÂnŠ¦³¥³Áª¨µ°°„Áž}œnªŠ ®¨´„„µ¦ °ŠŸ¼oÁ ¸¥œÅ¤n‹ÎµÁž}œ˜o°Š˜¦Š„´‡ªµ¤Á®Èœ °ŠŸ¼o°ºÉœ ˜n×¥ž¦³­„µ¦–rÁž}œ­·ÉŠš¸ÉœÎµÅžÄoÅ—oŠnµ¥Â¨³‡¨n°Š˜´ª Ÿ¼oÁ ¸¥œ‹¹ŠÁ®Èœªnµ¤¸‡ªµ¤‡¨n°Š˜´ªš¸ÉŸ¼o°nµœ‹³œÎµÅžÄoÅ—o°¥nµŠ¦ª— Á¦ÈªnªŠÁª¨µœ´Êœ‡º° ORQJWHUP‹³„·œÁª¨µže®¦º°ª´œšÎµ„µ¦Ã—¥ž¦³¤µ– LQWHUPHGLDWHWHUP‹³„·œÁª¨µÁ—º°œÃ—¥ž¦³¤µ– VKRUWWHUPÁª¨µœnµ‹³‡¨»¤ÄœnªŠ­´ž—µ®r™¹ŠÁ—º°œÃ—¥ž¦³¤µ–
‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- „µ¦¡¼—‡»¥„´œœ°„Á®œº°‹µ„nªŠÁª¨µ oµŠ˜oœ°µ‹‹³˜o°Š°„¦³¥³Áª¨µ„ε„´ÅªoÁnœ‡¦¹ÉŠžeš¸ÉŸnµœ¤µ„µ¦Á‡¨ºÉ°œÅ®ªÁž}œ XSWUHQGÁž}œ˜oœ Âœª¦´Â¨³Âœª˜oµœ 6XSSRUWDQG5HVLVWDQFH ®¨´Š‹µ„š¸É¡·‹µ¦–µ¦¼žÂ„µ¦Á‡¨ºÉ°œÅ®ªÂ¨³nªŠÁª¨µÂ¨oª­·ÉŠš¸ÉŸ¼o°nµœ‡Š°¥µ„‹³š¦µ˜n°Åž œnµ‹³Áž}œÁ¦ºÉ°Š °ŠÂœª¦´ VXSSRUW Âœª˜oµœ UHVLVWDQFH Ž¹ÉŠ­¦oµŠ‡ªµ¤­´­œÄ®oœ´„¨Šš»œÄ®¤n®¨µ¥šnµœ‹µ„š¸ÉÁ‡¥¡¼—‡»¥„´œ¤µŽ¹ÉŠ®¨´„„µ¦ °ŠŸ¼o Á ¸¥œ„Ȥ¸°¥nµŠŠnµ¥Çš¸É‹³nª¥Äœ„µ¦‹—‹ÎµÁ¡ºÉ°œÎµÅžÄoÄœšµŠž‘·´˜·®¨´„š¸Éªnµ„ȇº° Âœª¦´¦´ÅªoŤnÄ®o˜„Âœª˜oµœ˜oµœÅªoŤnÄ®o ¹Êœ ˜oµœ„¨µ¥Áž}œ¦´¦´„¨µ¥Áž}œ˜oµœ ¢{Š—¼Á®¤º°œÁ‡¨È—ª·µ„ε¨´Š£µ¥ÄœÂ˜n°¥nµÁ¡·ÉŠ¦o°ŠªnµÅ¤n¦¼oÁ¦ºÉ°ŠÁ¡¦µ³„ε¨´Š‹³°›·µ¥Ä®o¢{Š—´Šœ¸Ê‡¦´ Âœª¦´¦´ÅªoŤnÄ®o˜„ ®¤µ¥™¹Š n°¥‡¦´ÊŠš¸É¦µ‡µ®»oœÅ—o°n°œ˜´ª¨Š¤µ™¹Š – ¦³—´œ¸Êš¸Å¦ „Ȥ¸Â¦ŠŽºÊ°Á oµ¤µnª¥Ÿ¨´„—´œÄ®o ¦µ‡µ®»oœ¤¸„µ¦—¸—˜´ª„¨´ ¹ÊœÅžš»„š¸ ®¦º°°µ‹‹³„¨nµªÅ—oªnµÄœ°—¸˜š¸ÉŸnµœ¤µ ¤¸‡ªµ¤˜o°Š„µ¦ŽºÊ°Á„·— ¹Êœ Á¤ºÉ°¦µ‡µ¤µ™¹Š ¦³—´œ¸Ê Âœª˜oµœ˜oµœÅªoŤnÄ®o ¹Êœ®¤µ¥™¹Šn°¥‡¦´ÊŠš¸É¦µ‡µ®»oœÅ—o ¹Êœ¤µ™¹Š–¦³—´œ¸Êš¸Å¦„Ȥ¸Â¦ŠÁš µ¥°°„¤µ„—Ä®o¦µ‡µ®»oœ¤¸ „µ¦°n°œ˜´ª¨ŠÅžš»„š¸®¦º°°µ‹‹³„¨nµªÅ—oªnµÄœ°—¸˜š¸ÉŸnµœ¤µ¤¸‡ªµ¤˜o°Š„µ¦ µ¥Á„·— ¹Êœ¤µ–¦³—´¦µ‡µœ¸Ê ˜oµœ„¨µ¥Áž}œ¦´„n°œš¸É‹³°›·µ¥°¥µ„‹³Ä®oŸ¼o°nµœ‹·œ˜œµ„µ¦ªnµ„µ¦š¸É¦µ‡µ­µ¤µ¦™š³¨»Âœª˜oµœ ¹Êœ¤µÅ—oœ´ÉœÂ­—Š Ä®oÁ®Èœªnµ ‹³˜o°ŠÁ„·—¦ŠŽºÊ°¤µ„ ¹Êœ°¥nµŠÁ¡¸¥Š¡°‹œ­µ¤µ¦™Á°µœ³Â¦Š µ¥ ¨³Ÿ¨´„—´œÄ®o¦µ‡µ¤¸„µ¦ ¥´˜´ª ¹ÊœÅž ˜n ¡°¦³¥³Áª¨µŸnµœÅž „µ¦Á‡¨ºÉ°œ˜´ª °Š¦µ‡µ°µ‹‹³Á¦·É¤°n°œ˜´ª¨Š ‹œšÎµÄ®o¦µ‡µÁ„·—„µ¦ž¦´˜´ª¨Š¤µš—­°¦³—´š¸ÉÁ‡¥ Áž}œÂœª˜oµœÁ—·¤š¸ÉÁ¡·ÉŠŸnµœ¤µ „¦–¸œ¸ÊÂœª˜oµœœ´Êœ‹³šÎµ˜´ª„¨µ¥Áž}œÂœª¦´—oª¥Á®˜»Ÿ¨š¸Éªnµ „µ¦š¸Éš³¨» ¹ÊœÅž‡¦´ÊŠ„n°œœ´Êœ¤¸ ‡ªµ¤˜o°Š„µ¦ŽºÊ°­¼Š¤µ„˜¦Š¦·Áª–Âœª˜oµœ‹œ­µ¤µ¦™Á°µœ³Â¦Š µ¥Å—oÄœš¸É­»——´Šœ´Êœ‹¹ŠÁž}œ„µ¦‡µ—®ª´Š„´œªnµÂ¦ŠŽºÊ° œ´Êœœnµš¸É‹³„¨´Á oµ¤µ–¦³—´¦µ‡µœ¸Ê°¸„Á¡¦µ³Áž}œ¦³—´¦µ‡µš¸ÉÁ‡¥™¼„­œÄ‹Äœ°—¸˜‹µ„¦ŠŽºÊ°„¨»n¤œ¸Êœ°„‹µ„œ¸Ê¥´ŠÁž}œ Á®¤º°œ¦µ‡µ˜oœš»œ °Š„µ¦ŽºÊ°‡¦´ÊŠÂ¦„Ç Á¤ºÉ°˜°œš¸É˜¨µ—Áž¨¸É¥œÂœªÃœo¤ „µ¦ŽºÊ°‡¦´ÊŠ˜n°Ç¤µ °Š‡œš¸ÉÁ oµ¤µÂ®n˜µ¤®¨´Š ˜¨µ—Áž¨¸É¥œÂœªÃœo¤ ‹³­¼Š„ªnµ¦³—´œ¸Ê°¸„ —´Šœ´Êœ „µ¦‡µ—®ª´Š‡º° ¦µ‡µ®»oœœnµ‹³¤¸„µ¦—¸—˜´ª ¹Êœ‹µ„¦³—´Âœª˜oµœš¸É „¨µ¥Áž}œÂœª¦´Äœ –³œ¸Ê ¦´„¨µ¥Áž}œ˜oµœŸ¼o°nµœ¨°Š‹·œ˜œµ„µ¦ªnµ„µ¦š¸É¦µ‡µ­µ¤µ¦™š³¨»Âœª¦´¨Š¤µÅ—oœ´Éœ®¤µ¥™¹Š‹³˜o°ŠÁ„·—¦Š µ¥¤µ„ ¹Êœ°¥nµŠÁ¡¸¥Š¡°‹œ­µ¤µ¦™Á°µœ³Â¦ŠŽºÊ°‹¹Š„——´œÄ®o¦µ‡µ¤¸„µ¦°n°œ˜´ª¨ŠÅžÁ¤ºÉ°¦³¥³Áª¨µŸnµœÅž®¨´Š‹µ„„µ¦°n°œ˜´ª ¨Š °Š¦µ‡µ ¦µ‡µÁ¦·É¤š¸É‹³¤¸„µ¦ª„˜´ª ¹Êœ ¨³¤¸„µ¦Å˜n¦³—´ ¹Êœ¤µ – Âœª¦´Á—·¤š¸ÉÁ¡·ÉŠ‹³Ÿnµœ¤µ „¦–¸œ¸ÊÂœª¦´‹³„¨µ¥ Áž}œÂœª˜oµœ—oª¥Á®˜»Ÿ¨š¸Éªnµ„µ¦š¸Éš³¨»¨Š¤µÄœ‡¦´ÊŠ„n°œœ´Êœ¤¸‡ªµ¤˜o°Š„µ¦ µ¥­¼Š¤µ„˜¦ŠÂœª¦´‹œœ³Â¦ŠŽºÊ°—´Šœ´Êœ
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf
technic.pdf

Recommended

BIZ model 2024nnnmmmmmmmmmmmmmmmmmmm.pptx
BIZ model 2024nnnmmmmmmmmmmmmmmmmmmm.pptxBIZ model 2024nnnmmmmmmmmmmmmmmmmmmm.pptx
BIZ model 2024nnnmmmmmmmmmmmmmmmmmmm.pptx
PawachMetharattanara
 
DLS_CP_Payment Rev.00.pdf
DLS_CP_Payment Rev.00.pdfDLS_CP_Payment Rev.00.pdf
DLS_CP_Payment Rev.00.pdf
PawachMetharattanara
 
1. คู่มือคนสอน คนเรียน PMS.pdf
1. คู่มือคนสอน คนเรียน PMS.pdf1. คู่มือคนสอน คนเรียน PMS.pdf
1. คู่มือคนสอน คนเรียน PMS.pdf
PawachMetharattanara
 
Smart Parking รพ.กล้วยน้ำไท.pptx
Smart Parking รพ.กล้วยน้ำไท.pptxSmart Parking รพ.กล้วยน้ำไท.pptx
Smart Parking รพ.กล้วยน้ำไท.pptx
PawachMetharattanara
 
KPI 2021 Sale ( Nov ).pptx
KPI 2021 Sale ( Nov ).pptxKPI 2021 Sale ( Nov ).pptx
KPI 2021 Sale ( Nov ).pptx
PawachMetharattanara
 
1. คู่มือคนสอน คนเรียน PMS.pdf
1. คู่มือคนสอน คนเรียน PMS.pdf1. คู่มือคนสอน คนเรียน PMS.pdf
1. คู่มือคนสอน คนเรียน PMS.pdf
PawachMetharattanara
 
Presentation1333.pptx
Presentation1333.pptxPresentation1333.pptx
Presentation1333.pptx
PawachMetharattanara
 
Presentation1unv2.pptx
Presentation1unv2.pptxPresentation1unv2.pptx
Presentation1unv2.pptx
PawachMetharattanara
 

Recommended

BIZ model 2024nnnmmmmmmmmmmmmmmmmmmm.pptx
BIZ model 2024nnnmmmmmmmmmmmmmmmmmmm.pptxBIZ model 2024nnnmmmmmmmmmmmmmmmmmmm.pptx
BIZ model 2024nnnmmmmmmmmmmmmmmmmmmm.pptx
PawachMetharattanara
 
DLS_CP_Payment Rev.00.pdf
DLS_CP_Payment Rev.00.pdfDLS_CP_Payment Rev.00.pdf
DLS_CP_Payment Rev.00.pdf
PawachMetharattanara
 
1. คู่มือคนสอน คนเรียน PMS.pdf
1. คู่มือคนสอน คนเรียน PMS.pdf1. คู่มือคนสอน คนเรียน PMS.pdf
1. คู่มือคนสอน คนเรียน PMS.pdf
PawachMetharattanara
 
Smart Parking รพ.กล้วยน้ำไท.pptx
Smart Parking รพ.กล้วยน้ำไท.pptxSmart Parking รพ.กล้วยน้ำไท.pptx
Smart Parking รพ.กล้วยน้ำไท.pptx
PawachMetharattanara
 
KPI 2021 Sale ( Nov ).pptx
KPI 2021 Sale ( Nov ).pptxKPI 2021 Sale ( Nov ).pptx
KPI 2021 Sale ( Nov ).pptx
PawachMetharattanara
 
1. คู่มือคนสอน คนเรียน PMS.pdf
1. คู่มือคนสอน คนเรียน PMS.pdf1. คู่มือคนสอน คนเรียน PMS.pdf
1. คู่มือคนสอน คนเรียน PMS.pdf
PawachMetharattanara
 
Presentation1333.pptx
Presentation1333.pptxPresentation1333.pptx
Presentation1333.pptx
PawachMetharattanara
 
Presentation1unv2.pptx
Presentation1unv2.pptxPresentation1unv2.pptx
Presentation1unv2.pptx
PawachMetharattanara
 
Presentation1ubv.pptx
Presentation1ubv.pptxPresentation1ubv.pptx
Presentation1ubv.pptx
PawachMetharattanara
 
Uniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdfUniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdf
PawachMetharattanara
 
Univiwe Training 2023.pdf
Univiwe Training 2023.pdfUniviwe Training 2023.pdf
Univiwe Training 2023.pdf
PawachMetharattanara
 
Uniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdfUniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdf
PawachMetharattanara
 
หนังสือเชิญ Quicktron Robotic .Thailand(1).pdf
หนังสือเชิญ Quicktron Robotic .Thailand(1).pdfหนังสือเชิญ Quicktron Robotic .Thailand(1).pdf
หนังสือเชิญ Quicktron Robotic .Thailand(1).pdf
PawachMetharattanara
 
07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx
07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx
07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx
PawachMetharattanara
 
Presentation DGF Logistics Thailand.คุณอรุณ.1.ppt
Presentation DGF Logistics Thailand.คุณอรุณ.1.pptPresentation DGF Logistics Thailand.คุณอรุณ.1.ppt
Presentation DGF Logistics Thailand.คุณอรุณ.1.ppt
PawachMetharattanara
 
อบรมพื้นฐาน 2023.pptx
อบรมพื้นฐาน 2023.pptxอบรมพื้นฐาน 2023.pptx
อบรมพื้นฐาน 2023.pptx
PawachMetharattanara
 
presentationsolutioncovidschool-230115131900-5c73fd21.pptx
presentationsolutioncovidschool-230115131900-5c73fd21.pptxpresentationsolutioncovidschool-230115131900-5c73fd21.pptx
presentationsolutioncovidschool-230115131900-5c73fd21.pptx
PawachMetharattanara
 
Catalog Quick.pdf
Catalog Quick.pdfCatalog Quick.pdf
Catalog Quick.pdf
PawachMetharattanara
 
01416_PPT_FG_DAY1-บ่าย_651219V2.pdf
01416_PPT_FG_DAY1-บ่าย_651219V2.pdf01416_PPT_FG_DAY1-บ่าย_651219V2.pdf
01416_PPT_FG_DAY1-บ่าย_651219V2.pdf
PawachMetharattanara
 
แผนที่PICKชีวิต.pdf
แผนที่PICKชีวิต.pdfแผนที่PICKชีวิต.pdf
แผนที่PICKชีวิต.pdf
PawachMetharattanara
 
Digital Marketing (2024).pdf
Digital Marketing (2024).pdfDigital Marketing (2024).pdf
Digital Marketing (2024).pdf
PawachMetharattanara
 
MARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdf
MARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdfMARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdf
MARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdf
PawachMetharattanara
 
Thailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDF
Thailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDFThailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDF
Thailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDF
PawachMetharattanara
 
DLS_CP_DPARK LPR.pptx
DLS_CP_DPARK LPR.pptxDLS_CP_DPARK LPR.pptx
DLS_CP_DPARK LPR.pptx
PawachMetharattanara
 
4 โต๊ะจีน 2022.pdf
4 โต๊ะจีน 2022.pdf4 โต๊ะจีน 2022.pdf
4 โต๊ะจีน 2022.pdf
PawachMetharattanara
 
Present_bitdefender_ sales 2023.pptx
Present_bitdefender_ sales 2023.pptxPresent_bitdefender_ sales 2023.pptx
Present_bitdefender_ sales 2023.pptx
PawachMetharattanara
 
2022Q4 Access Control & Video Intercom product update.pptx
2022Q4 Access Control & Video Intercom product update.pptx2022Q4 Access Control & Video Intercom product update.pptx
2022Q4 Access Control & Video Intercom product update.pptx
PawachMetharattanara
 
หลักการเขียนลายเซ็น.pdf
หลักการเขียนลายเซ็น.pdfหลักการเขียนลายเซ็น.pdf
หลักการเขียนลายเซ็น.pdf
PawachMetharattanara
 

More Related Content

More from PawachMetharattanara

Presentation1ubv.pptx
Presentation1ubv.pptxPresentation1ubv.pptx
Presentation1ubv.pptx
PawachMetharattanara
 
Uniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdfUniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdf
PawachMetharattanara
 
Uniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdfUniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdf
PawachMetharattanara
 
หนังสือเชิญ Quicktron Robotic .Thailand(1).pdf
หนังสือเชิญ Quicktron Robotic .Thailand(1).pdfหนังสือเชิญ Quicktron Robotic .Thailand(1).pdf
หนังสือเชิญ Quicktron Robotic .Thailand(1).pdf
PawachMetharattanara
 
07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx
07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx
07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx
PawachMetharattanara
 
Presentation DGF Logistics Thailand.คุณอรุณ.1.ppt
Presentation DGF Logistics Thailand.คุณอรุณ.1.pptPresentation DGF Logistics Thailand.คุณอรุณ.1.ppt
Presentation DGF Logistics Thailand.คุณอรุณ.1.ppt
PawachMetharattanara
 
อบรมพื้นฐาน 2023.pptx
อบรมพื้นฐาน 2023.pptxอบรมพื้นฐาน 2023.pptx
อบรมพื้นฐาน 2023.pptx
PawachMetharattanara
 
presentationsolutioncovidschool-230115131900-5c73fd21.pptx
presentationsolutioncovidschool-230115131900-5c73fd21.pptxpresentationsolutioncovidschool-230115131900-5c73fd21.pptx
presentationsolutioncovidschool-230115131900-5c73fd21.pptx
PawachMetharattanara
 
01416_PPT_FG_DAY1-บ่าย_651219V2.pdf
01416_PPT_FG_DAY1-บ่าย_651219V2.pdf01416_PPT_FG_DAY1-บ่าย_651219V2.pdf
01416_PPT_FG_DAY1-บ่าย_651219V2.pdf
PawachMetharattanara
 
แผนที่PICKชีวิต.pdf
แผนที่PICKชีวิต.pdfแผนที่PICKชีวิต.pdf
แผนที่PICKชีวิต.pdf
PawachMetharattanara
 
Digital Marketing (2024).pdf
Digital Marketing (2024).pdfDigital Marketing (2024).pdf
Digital Marketing (2024).pdf
PawachMetharattanara
 
MARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdf
MARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdfMARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdf
MARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdf
PawachMetharattanara
 
Thailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDF
Thailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDFThailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDF
Thailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDF
PawachMetharattanara
 
4 โต๊ะจีน 2022.pdf
4 โต๊ะจีน 2022.pdf4 โต๊ะจีน 2022.pdf
4 โต๊ะจีน 2022.pdf
PawachMetharattanara
 
Present_bitdefender_ sales 2023.pptx
Present_bitdefender_ sales 2023.pptxPresent_bitdefender_ sales 2023.pptx
Present_bitdefender_ sales 2023.pptx
PawachMetharattanara
 
2022Q4 Access Control & Video Intercom product update.pptx
2022Q4 Access Control & Video Intercom product update.pptx2022Q4 Access Control & Video Intercom product update.pptx
2022Q4 Access Control & Video Intercom product update.pptx
PawachMetharattanara
 
หลักการเขียนลายเซ็น.pdf
หลักการเขียนลายเซ็น.pdfหลักการเขียนลายเซ็น.pdf
หลักการเขียนลายเซ็น.pdf
PawachMetharattanara
 

More from PawachMetharattanara (20)

Presentation1ubv.pptx
Presentation1ubv.pptxPresentation1ubv.pptx
Presentation1ubv.pptx
 
Uniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdfUniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdf
 
Univiwe Training 2023.pdf
Univiwe Training 2023.pdfUniviwe Training 2023.pdf
Univiwe Training 2023.pdf
 
Uniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdfUniview Company Introduction with brief solution(1).pdf
Uniview Company Introduction with brief solution(1).pdf
 
หนังสือเชิญ Quicktron Robotic .Thailand(1).pdf
หนังสือเชิญ Quicktron Robotic .Thailand(1).pdfหนังสือเชิญ Quicktron Robotic .Thailand(1).pdf
หนังสือเชิญ Quicktron Robotic .Thailand(1).pdf
 
07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx
07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx
07 TOR ระบบ Smart Classroom ขนาด 50 ที่นั่ง 231220.docx
 
Presentation DGF Logistics Thailand.คุณอรุณ.1.ppt
Presentation DGF Logistics Thailand.คุณอรุณ.1.pptPresentation DGF Logistics Thailand.คุณอรุณ.1.ppt
Presentation DGF Logistics Thailand.คุณอรุณ.1.ppt
 
อบรมพื้นฐาน 2023.pptx
อบรมพื้นฐาน 2023.pptxอบรมพื้นฐาน 2023.pptx
อบรมพื้นฐาน 2023.pptx
 
presentationsolutioncovidschool-230115131900-5c73fd21.pptx
presentationsolutioncovidschool-230115131900-5c73fd21.pptxpresentationsolutioncovidschool-230115131900-5c73fd21.pptx
presentationsolutioncovidschool-230115131900-5c73fd21.pptx
 
Catalog Quick.pdf
Catalog Quick.pdfCatalog Quick.pdf
Catalog Quick.pdf
 
01416_PPT_FG_DAY1-บ่าย_651219V2.pdf
01416_PPT_FG_DAY1-บ่าย_651219V2.pdf01416_PPT_FG_DAY1-บ่าย_651219V2.pdf
01416_PPT_FG_DAY1-บ่าย_651219V2.pdf
 
แผนที่PICKชีวิต.pdf
แผนที่PICKชีวิต.pdfแผนที่PICKชีวิต.pdf
แผนที่PICKชีวิต.pdf
 
Digital Marketing (2024).pdf
Digital Marketing (2024).pdfDigital Marketing (2024).pdf
Digital Marketing (2024).pdf
 
MARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdf
MARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdfMARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdf
MARKETING Technology พลิกโลกการตลาดด้วยมาร์เทค 1.pdf
 
Thailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDF
Thailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDFThailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDF
Thailand 2023Q3 CCTV Seasonal Spotlight Product - DGF.PDF
 
DLS_CP_DPARK LPR.pptx
DLS_CP_DPARK LPR.pptxDLS_CP_DPARK LPR.pptx
DLS_CP_DPARK LPR.pptx
 
4 โต๊ะจีน 2022.pdf
4 โต๊ะจีน 2022.pdf4 โต๊ะจีน 2022.pdf
4 โต๊ะจีน 2022.pdf
 
Present_bitdefender_ sales 2023.pptx
Present_bitdefender_ sales 2023.pptxPresent_bitdefender_ sales 2023.pptx
Present_bitdefender_ sales 2023.pptx
 
2022Q4 Access Control & Video Intercom product update.pptx
2022Q4 Access Control & Video Intercom product update.pptx2022Q4 Access Control & Video Intercom product update.pptx
2022Q4 Access Control & Video Intercom product update.pptx
 
หลักการเขียนลายเซ็น.pdf
หลักการเขียนลายเซ็น.pdfหลักการเขียนลายเซ็น.pdf
หลักการเขียนลายเซ็น.pdf
 

technic.pdf

  • 2.
  • 3. -i- ‡Î µœÎ µ ®œ´Š­º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Á¨n¤œ¸Ê Áž}œŸ¨Šµœš¸É‡»–­»¦´¥ ō¥¦´Š­·œ´œšr Á ¸¥œ ¹Êœ ‹µ„®œ´Š­º° ªµ¦­µ¦ ¨³Á°„­µ¦ ˜nµŠÇ®¨µ¥Á¨n¤¦ª¤Á oµ„´ž¦³­„µ¦–r °Š‡»–­»¦´¥Á°Šš¸ÉčoÁ‡¦ºÉ°Š¤º°Á®¨nµœ¸ÊÄœ¸ª·˜„µ¦šÎµŠµœž¦³‹Îµª´œ¤µÁ„º°že ˜oœŒ´ °Š®œ´Š­º°Á¨n¤œ¸Ê Á ¸¥œ ¹ÊœÃ—¥ÄoÁª¨µªnµŠÁšnµš¸É‡»–­»¦´¥‹³¡°®µÅ—o Ž¹ÉŠÁ¤ºÉ°¦ª¤Á oµ„´Áª¨µš¸ÉčoÄœ„µ¦­¦oµŠ¦¼ž „¦µ¢˜iµŠÇ¨³„µ¦‹´—¦¼žÁ¨n¤Â¨oª„ªnµ®œ´Š­º°Á¨n¤œ¸Ê‹³Á­¦È‹­¤¼¦–r„ÈčoÁª¨µ„ªnµže¨³Áž}œš¸ÉœnµÁ­¸¥Ä‹°¥nµŠ¥·ÉŠš¸É®¨´Š ‹µ„®œ´Š­º°Á¨n¤œ¸Ê˜¸¡·¤¡r°°„Áž}œ¦¼žÁ¨n¤Å—o‡¦´ÊŠÂ¦„Ťnœµœ‡»–­»¦´¥„ÈÁ­¸¥¸ª·˜¨Š—oª¥Ã¦‡¤³Á¦ÈŠÄœ˜n°¤œÎʵÁ®¨º°Š Äœ„µ¦Á ¸¥œ®œ´Š­º°Á¨n¤œ¸Ê ‡»–­»¦´¥¤¸ª´˜™»ž¦³­Š‡r®¨´„‡º° ˜o°Š„µ¦‹³ÁŸ¥Â¡¦n‡ªµ¤¦¼ošµŠ—oµœ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ °¥nµŠ¤¸¦³ Á¡ºÉ°Ä®oœ´„¨Šš»œ­µ¤µ¦™œÎµÅžÄoÅ—o°¥nµŠ™¼„ª·›¸ ×¥¡¥µ¥µ¤°›·µ¥™¹Šª·›¸Â¨³Âœª‡ªµ¤‡·—Äœ„µ¦ª·Á‡¦µ³®r šµŠÁš‡œ·‡¦¼žÂ˜nµŠÇ Á¡ºÉ°Áž}œ„µ¦­ºš°—Á‹˜œµ¦¤¥r °Š‡»–­»¦´¥Äœ„µ¦š¸É‹³ÁŸ¥Â¡¦n‡ªµ¤¦¼o—oµœ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Ä®o„n­´Š‡¤ÄœªŠ„ªoµŠ ¤‹Á°¸Á°ÈœÂ°¤Ã¦Á°ÁŽ¸¥‹¹ŠÅ—oœÎµÁ°µ˜oœŒ´®œ´Š­º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Á¨n¤œ¸Ê°°„ÁŸ¥Â¡¦nÄœ¦¼ž(OHFWURQLFVÁ¡ºÉ° Ä®oœ´„¨Šš»œÂ¨³Ÿ¼o­œÄ‹š´ÉªÅž Å—oœÎµÄoÄœ„µ¦«¹„¬µÁ¡·É¤Á˜·¤ ץŤnÅ—o‡·—¤¼¨‡nµÄ—Ç š´ÊŠœ¸Ê Å—o¦´‡Îµ°œ»µ˜‹µ„£¦¦¥µ °Š ‡»–­»¦´¥Á¦¸¥¦o°¥Â¨oª ®œ´Š­º°Á¨n¤œ¸Ê­ÎµÁ¦È‹¨ŠÅ—o—oª¥‡ªµ¤¦nª¤¤º° °Š¡¸Éœo°Š$67š»„Çšnµœš¸Énª¥­œ´­œ»œÂ¨³Ä®o„ε¨´ŠÄ‹Äœ„µ¦‹´—šÎµÁž}œ°¥nµŠ—¸ ×¥ÁŒ¡µ³°¥nµŠ¥·ÉŠ ‡»–ª¦µ£¦–r ª·¼¨‡–µ¦´„¬r Ÿ¼oŽ¹ÉŠÄoÁª¨µÂ¨³‡ªµ¤°—šœ°¥nµŠ¤µ„Äœ„µ¦˜¦ª‹šµœ˜oœŒ´°¥¼n®¨µ¥ ¦°™oµ®œ´Š­º°Á¨n¤œ¸Ê‹³¤¸­nªœ—¸°¥¼noµŠ¡ª„Á¦µ„È °¤°‡ªµ¤—¸œ¸ÊÄ®o„n‡ªµ¤˜´ÊŠÄ‹‹¦·Š °Š‡»–­»¦´¥­nªœ‡ªµ¤Ÿ·—¡¨µ—š¸É °µ‹Á„·— ¹Êœœ´Êœ¡ª„Á¦µ °œo°¤¦´Â¨³¥·œ—¸¦´¢{Š‡Îµ˜·¤‹µ„š»„šnµœÁ­¤°
  • 4. -ii- This page is intentionally left blank
  • 5. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -iii- ­µ¦´ ‡Î µœÎ µ L ­µ¦´ LLL šš¸É î¤Ã¦Š š§¬‘¸—µª 'RZ7KHRU ž¦³Ã¥œr °Š„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ o°Á­¸¥Â¨³‡ªµ¤Á oµÄ‹Ÿ·—µŠž¦³„µ¦Á„¸É¥ª„´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ¤¸°³Å¦Äœ®œ´Š­º°Á¨n¤œ¸Ê šš¸É ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ „µ¦­¦oµŠKDUW ¦¼žÂŠnµ¥Ç„´ÂšnŠ%DU 8SVLGH5HYHUVDO 5 ¨³'RZQVLGH5HYHUVDO 5 .H8SVLGH5HYHUVDO .5 ¨³.H'RZQVLGH5HYHUVDO .5 ORVHRQ+LJK 2+ ¨³ORVHRQ/RZ 2/ +LJKWR/RZORVH6LJQDO +/ ¨³/RZWR+LJKORVH6LJQDO /+ +LJKV + ¨³/RZV / ÂœªÃœo¤ 8SWUHQG 'RZQWUHQG 6LGHZDV Á­oœÂœªÃœo¤ 8SWUHQG/LQH 'RZQWUHQG/LQH 6LGHZDV ‡ªµ¤´œÂ¨³„µ¦—¸—˜´ª 6ORSHDQG5HWUDFHPHQW nªŠÁª¨µ Âœª¦´Â¨³Âœª˜oµœ ­nŠšoµ¥ šš¸É ¦¼žÂ„µ¦Áž¨¸É¥œÂœªÃœo¤ 5HYHUVDO3DWWHUQV ®´ªÂ¨³Å®¨n +HDG 6KRXOGHUV 7ULSOH7RSV¨³7ULSOH%RWWRPV
  • 6. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -iv- 'RXEOH7RSV¨³'RXEOH%RWWRPV 6DXFHU 96KDSH šš¸É ¦¼žÂ˜n°ÁœºÉ°Š RQWLQXRXV3DWWHUQV 7ULDQJOHV 6PPHWULF7ULDQJOHV $VFHQGLQJ7ULDQJOHV 'HVFHQGLQJ7ULDQJOHV %URDGHQLQJ)RUPDWLRQ )ODJVDQG3HQQDQWV :HGJH 5HFWDQJOH *DSV RPPRQ*DS %UHDNDZD*DS 5XQDZD*DS ([KDXVWLRQ*DS ­nŠšoµ¥ šš¸É Ÿœ£µ¡3RLQW )LJXUH „µ¦­¦oµŠÂŸœ£µ¡3RLQWDQG)LJXUH ¦¼žÂ­´µ–ŽºÊ°Â¨³­´µ– µ¥ Á­oœÂœªÃœo¤ 7UHQG/LQH Ážjµ®¤µ¥¦µ‡µ 3ULFH7DUJHW +RUL]RQWDORXQW 9HUWLFDORXQW šš¸É ¦³‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É 0RYLQJ$YHUDJHV ­´µ–ŽºÊ°­´µ– µ¥ „µ¦Äo‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É˜´ªž¦³„°„´œ 'RXEOH0RYLQJ$YHUDJHURVVRYHU ¦¼žÂ °Š‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É 6LPSOH0RYLQJ$YHUDJH 60$ /LQHDU:HLJKWHG0RYLQJ$YHUDJH :0$ ([SRQHQWLDO0RYLQJ$YHUDJH (0$
  • 7. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -v- ¦³¥³Áª¨µ®¦º°‹Îµœªœª´œš¸ÉčoÄœ„µ¦‡Îµœª–0RYLQJ$YHUDJH „¨¥»š›r Âœª¦´Âœª˜oµœ Á­oœ‡¼n œµœ °Š‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É 0RYLQJ$YHUDJH%DQGRUKDQQHO „µ¦Á‡¨ºÉ°œ¥oµ¥Á­oœ‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É˜µ¤Âœªœ°œ 'LVSODFHG0RYLQJ$YHUDJH 3ULFH2VFLOODWRU 0RYLQJ$YHUDJHRQYHUJHQFH'LYHUJHQFH 0$' 3DUDEROLF7LPH3ULFH6VWHP 6WRSDQG5HYHUVH 6$5 8SWUHQG 'RZQWUHQG šš¸É Á‡¦ºÉ°Š¸Êš¸ÉÁ„¸É¥ª o°Š„´¦µ‡µ 3ULFH,QGLFDWRUV ‡ªµ¤Á oµÄ‹ÁºÊ°Š˜oœªnµ—oª¥2YHUERXJKW2YHUVROGRQYHUJHQFH¨³'LYHUJHQFH „’š´ÉªÅžÄœ„µ¦°nµœ‡nµ,QGLFDWRUV 0RPHQWXP¨³5DWHRIKDQJH „µ¦°nµœ‡nµ0RPHQWXP 5HODWLYH6WUHQJWK,QGH[ 56, 5HODWLYH0RPHQWXP,QGH[ 50, 6WRFKDVWLF :LOOLDPuV5 .67®¦º°6XPPHG5DWHRIKDQJH,QGH[ 'LUHFWLRQDO0RYHPHQW6VWHP '06 3OXV'LUHFWLRQDO0RYHPHQW 3'0 0LQXV'LUHFWLRQDO0RYHPHQW 0'0 ¨³7UXH5DWH 3',0',¨³$'; ŽºÊ°Á¤ºÉ°Å¦ µ¥Á¤ºÉ°Å¦ 8SWUHQG 'RZQWUHQG šš¸É —´œ¸ª´—‡ªµ¤Â„ªnŠÄœž¦·¤µ–„µ¦ŽºÊ° µ¥ 9ROXPH,QGLFDWRUV ¨´„¬–³š´ÉªÅž °Š°»ž­Š‡r¨³°»žšµœ °Š®»oœ ¡§˜·„¦¦¤š´ÉªÅžÁ„¸É¥ª„´‡ªµ¤­´¤¡´œ›r¦³®ªnµŠž¦·¤µ–„µ¦ŽºÊ° µ¥„´¦µ‡µ 2Q%DODQFH9ROXPH 2%9 KDLNLQ$FFXPXODWLRQ'LVWULEXWLRQ +$,.,1 3ULFH 9ROXPH7UHQG 397
  • 8. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -vi- 9ROXPH2VFLOODWRU 9ROXPH5DWHRIKDQJH šš¸É Á‡¦ºÉ°Š¸Ê£µª³˜¨µ— 0DUNHW,QGLFDWRUV $GYDQFH'HFOLQH/LQH $'/,1( 2YHUERXJKW2YHUVROG,QGH[ 2%26 0FOHOODQ2VFLOODWRU 02 7UDGLQJ,QGH[ 75,1 ®¦º°$UPuV,QGH[ 0DUNHW7KUXVW¨³7KUXVW2VFLOODWRUV šš¸É ˜´ªÁ¨ °Š¢dÝœµ¸É¨³„µ¦ž¦³¥»„˜rčo )LERQDFFL1XPEHUVDQG$SSOLFDWLRQV ¢dÝœµ¸É‡º°Ä‡¦ ˜´ªÁ¨ °Š¢dÝœµ¸É )LERQDFFL1XPEHUV ‡»–­¤´˜·µŠž¦³„µ¦ °Š¨Îµ—´˜´ªÁ¨ ¢dÝœµ¸É ­´—­nªœš°Š‡Îµ„´­™µž{˜¥„¦¦¤Â¨³›¦¦¤µ˜· ¤µšÎµ‡ªµ¤Á oµÄ‹Á„¸É¥ª„´„µ¦ž¦´“µœÂ¨³„µ¦˜n°˜´ª„´œ„n°œ „µ¦‡Îµœª–Ážjµ®¤µ¥„µ¦ž¦´“µœ )LERQDFFL5HWUDFHPHQW „µ¦ª´—Ážjµ®¤µ¥„µ¦˜n°˜´ª )LERQDFFL([WHQVLRQ ˜´ª°¥nµŠ‹µ„ °Š‹¦·Š o°‡ª¦¦³ª´ŠÁ„¸É¥ª„´„µ¦Äo)LERQDFFL5HWUDFHPHQW¨³([WHQVLRQ šš¸É š§¬‘¸‡¨ºÉœ °Š°¸Á¨¸¥˜ (OOLRW:DYH7KHRU ¦¼žÂ¡ºÊœ“µœ ¡§˜·„¦¦¤Â¨³‡ªµ¤®¤µ¥ °ŠÂ˜n¨³‡¨ºÉœ „µ¦œ´‡¨ºÉœ „µ¦˜n°˜´ª ¦¼žÂ‡¨ºÉœž¦´˜´ª ¦¼žÂ„µ¦ž¦´˜´ª°¥nµŠŠnµ¥ ¦¼žÂŽ·„ÂŽ„ =LJ]DJV )ODWV ,UUHJXODUV 7ULDQJOHV 'HVFHQGLQJ7ULDQJOH 6PPHWULFDO7ULDQJOH ([SDQGLQJ7ULDQJOH
  • 9. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -vii- ¦¼žÂŽ´Žo°œ 'RXEOH7KUHHV 7ULSOH7KUHHV Ážjµ®¤µ¥Áª¨µ 7LPH*RDO'DV Ážjµ®¤µ¥¦µ‡µ 3ULFH2EMHFWLYHV šš¸É š§¬‘¸Â„œœr*DQQuV7KHRU DUGLQDO6TXDUH Áª¨µÂ®nŠ„µ¦Áž¨¸É¥œš·«šµŠ Áª¨µ 7LPH ¦µ‡µ 3ULFH *HRPHWULF$QJOHV *DQQ„´*HRPHWULF$QJOHV *DQQuV5HWUDFHPHQW5XOH œ·¥µ¤ „µ¦­¦oµŠ5HWUDFHPHQW=RQH „µ¦Ÿ­¤Ÿ­µœ3HUFHQWDJH5HWUDFHPHQW„´*HRPHWULF$QJOH/LQH šš¸Éš§¬‘¸‡¨ºÉœª´’‹´„¦ FOHV7KHRU °Š‡rž¦³„° °Š°œ»„¦¤Áª¨µ 7LPH6HULHV'HFRPSRVLWLRQ °Š‡rž¦³„° °Šª´’‹´„¦ FOHRPSRQHQWV ®¨´„„µ¦¦ª¤˜´ª °Šª´’‹´„¦ 3ULQFLSOHRI3URSRUWLRQDOLW 3ULQFLSOHRI6XSHUSRVLWLRQ 3ULQFLSOHRI5HVRQDQFH 3ULQFLSOHRI6QFKURQLFLW 3ULQFLSOHRI+DUPRQLFLW „µ¦¦ª¤˜´ª °Š‡¨ºÉœª´’‹´„¦„´¦¼žÂšµŠÁš‡œ·‡ +HDGDQG6KRXOGHUV 'RXEOH7RS ¦¼žÂž¦³Á£šRQWLQXRXV3DWWHUQV ¦¼žÂž¦³Á£š(OOLRWW:DYH „µ¦ª´—‡¨ºÉœª´’‹´„¦ „µ¦ª´——oª¥ª·›¸„µ¦šµŠ­™·˜· „µ¦ª´——oª¥­µ¥˜µž¦³„°„´„µ¦‡Îµœª–°¥nµŠŠnµ¥Ç
  • 10. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -viii- ®¨´„„µ¦ª´—‡¨ºÉœª´’‹´„¦°¥nµŠŠnµ¥Ç „µ¦ª´——oª¥­µ¥˜µ°¥nµŠŠnµ¥ÇÁš¸¥„´„µ¦ª´—šµŠ­™·˜· „µ¦Äoª´’‹´„¦„´Á‡¦ºÉ°Š¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡°ºÉœÇ ‡¨ºÉœª´’‹´„¦„´‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É ª´’‹´„¦„´0RPHQWXP ª´’‹´„¦„´5HODWLYH6WUHQJWK,QGH[ 56, ª´’‹´„¦„´6WRFKDVWLF šš¸É „µ¦ª·Á‡¦µ³®rŸœ£¼¤·ÂÂšnŠÁš¸¥œÁºÊ°Š˜oœ ,QWURGXFWLRQWR-DSDQHVHDQGOHVWLFNKDUWLQJ „µ¦Á ¸¥œ„¦µ¢ÂÂšnŠÁš¸¥œ Áš¸¥œ˜´—®´ª %RVX 'RMLºÉ°‹»q¤‹·Ì¤Â˜n‡ªµ¤­Îµ‡´¤®µ«µ¨ šš¸É ¦¼žÂ„µ¦Áž¨¸É¥œš·«šµŠ °Š„µ¦ª·Á‡¦µ³®rÂšnŠÁš¸¥œ DQGOHVWLFN5HYHUVDO3DWWHUQV °»ž¦µ‡µÁ˜È¤—ªŠ (QJXOILQJ3DWWHUQ Á¤‰‡¦¹Ê¤¢jµÂ¨³ŸnµÁ­oœ„¨µŠ 'DUNORXGRYHUDQG3LHUFLQJ/LQH šnŠ¦n¤ 8PEUHOOD/LQHV ‰o°œ +DPPHU ‡œÂ ªœ‡° +DQJLQJ0DQ —µªž¦³„µ¥¡§„¬r¨³—µªž¦³‹ÎµÁ¤º°Š 0RUQLQJ6WDUDQG(YHQLQJ6WDU —µª˜„¨³‰o°œ„¨´®´ª 6KRRWLQJ6WDUDQG,QYHUWHG+DPPHU Á­oœ±µ¦µ¤· +DUDPL/LQHV 7ZHH]HU7RSDQG7ZHH]HU%RWWRP Á­oœ˜¸Ã˜o RXQWHUDWWDFN/LQHV ®°‡°¥ 7RZHU7RSDQG7RZHU%RWWRP °¸„µ­°Š˜´ª 7ZRURZV °¸„µ­µ¤˜´ª 7KUHHURZV ¦¼žÂ7UHQG5HYHUVDO°ºÉœÇ šš¸É ¦¼žÂ˜n°ÁœºÉ°ŠÄœ„µ¦ª·Á‡¦µ³®ršnŠÁš¸¥œ DQGOHVWLFNRQWLQXRXV3DWWHUQV ®œoµ˜nµŠšµŽ¼„· 7DVXNL*DS +LJK3ULFHDQG/RZ3ULFH*DSSLQJ3ODV
  • 11. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¦´ -ix- *DSSLQJ6LGH%6LGH:KLWH/LQHV ¹Êœ­µ¤¨Š­µ¤ 5LVLQJ7KUHHDQG)DOOLQJ7KUHH ­µ¤š®µ¦ µª„oµªÅž jµŠ®œoµ 7KUHH$GYDQFLQJ:KLWH6ROGLHUV Á­oœÂnŠ°µ–µÁ ˜ 6HSHUDWLQJ/LQHV šš¸É „¦³ªœ¥»š›r 6WUDWHJLHV ¦¦–µœ»„¦¤ 5HIHUHQFHV
  • 13. -- šš¸É šnµœŸ¼o°nµœ®¨µ¥šnµœ‡Š‹³Á‡¥Å—o¥·œ‡Îµªnµ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¤µ°¥nµŠ·œ®¼ µŠ šnµœ°µ‹‹³Á‡¥ÄoÁ‡¦ºÉ°Š¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¤µoµŠ µŠšnµœ°µ‹‹³ÄoÁž}œ Á‡¦ºÉ°Š¤º°®µ„·œÄœ„µ¦˜´—­·œÄ‹ŽºÊ° µ¥®»oœ°¥¼nš»„ª´œ ˜n™oµ™µ¤ªnµ„µ¦ª·Á‡¦µ³®ršµŠ Áš‡œ·‡‡º°°³Å¦ ¤¸‹»—„εÁœ·— ¹Êœ¤µ‹µ„Âœª‡ªµ¤‡·—°³Å¦ ¨³¤¸‡ªµ¤­Îµ‡´°¥nµŠÅ¦ µŠš¸°µ‹‹³˜o°Š‡·—„´œœµœ®œn°¥ Á¡¦µ³Á¦µÄoÁ‡¦ºÉ°Š¤º°Á®¨nµœ¸Ê„´œ‹œ„¨µ¥Áž}œ‡ªµ¤ Á‡¥·œ¤µ„„ªnµš¸É‹³‡oœ®µ‡Îµ˜°¡ºÊœ“µœÁ®¨nµœ¸Ê „µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ Áž}œª·›¸„µ¦«¹„¬µ¡§˜·„¦¦¤ °Š®»oœ ×¥°µ«´¥¦¼ž„¦µ¢Á¡ºÉ°‹»—ž¦³­Š‡rÄœ„µ¦‡µ—„µ¦–rÂœª Ãœo¤ °Š¦µ‡µÄœ°œµ‡˜œ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡‹³«¹„¬µ¡§˜·„¦¦¤ °Š®»oœ‹µ„¦µ‡µÂ¨³ž¦·¤µ–„µ¦Ž¸Ê° µ¥ ®¦º°¤¼¨‡nµ „µ¦ŽºÊ° µ¥ Ž¹ÉŠ™º°Å—oªnµÁž}œÂ®¨nŠ o°¤¼¨š¸É­Îµ‡´­Îµ®¦´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ °¥nµŠÅ¦„Șµ¤ „¦³ªœ¥»š›rÄœ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡œ¸Ê čnªnµ°¥¼n—¸Ç‹³´´˜· ¹ÊœÃ—¥Å¤n¤¸®¨´„„µ¦ ˜nšo‹¦·ŠÂ¨oª ¤´œ¤¸ Âœª‡·—®¦º°‡ªµ¤ÁºÉ°š¸É„µ¦ª·Á‡¦µ³®rœ¸Ê°·Š°¥¼nž¦³„µ¦‡º° ¡§˜·„¦¦¤ °Š¦µ‡µ®»oœš¸É­—Š°°„¤µœ´Êœ Å—o—¼—Ž´Á®˜»„µ¦–rš»„­·ÉŠš»„°¥nµŠš¸ÉÁ„·— ¹ÊœÁ°µÅªo¨oª œ´Éœ®¤µ¥‡ªµ¤ ªnµ Á¤ºÉ°Á„·—„µ¦Áž¨¸É¥œÂž¨ŠšµŠ—oµœÁ«¦¬“„·‹ „µ¦Á¤º°Š ²¨² ¥n°¤­nŠŸ¨„¦³š˜n°°»ž­Š‡r¨³°»žšµœÄœ®»oœ Ž¹ÉŠÂœnœ°œ ¥n°¤‹³¤¸Ÿ¨˜n°¦µ‡µÁœºÉ°Š‹µ„¦µ‡µ™¼„„ε®œ— ¹Êœ‹µ„°»ž­Š‡r¨³°»žšµœ °Š®»oœÁ¡¦µ³Œ³œ´Êœ™oµ„µ¦Áž¨¸É¥œÂž¨Šš¸ÉÁ„·— ¹ÊœÁž}œÅžÄœÁ·Šª„¥n°¤šÎµÄ®oÁ„·—°»ž­Š‡r¤µ„„ªnµ°»žšµœ®¦º°¡¼—Šnµ¥ÇªnµÂ¦ŠŽºÊ°¤µ„„ªnµÂ¦Š µ¥„È‹³­nŠŸ¨Ä®o¦µ‡µ¤¸ „µ¦ž¦´˜´ª­¼Š ¹Êœ ÄœšµŠ„¨´„´œ ®µ„„µ¦Áž¨¸É¥œÂž¨Šš¸ÉÁ„·— ¹ÊœÁž}œÅžÄœÁ·Š¨ ¥n°¤šÎµÄ®oÁ„·—°»žšµœ¤µ„„ªnµ°»ž­Š‡r ¦Š µ¥¤µ„„ªnµÂ¦ŠŽºÊ° „È‹³­nŠŸ¨Ä®o¦µ‡µ¤¸„µ¦ž¦´˜´ª¨Š °¥nµŠÅ¦„È—¸‹µ„š¸É„¨nµª¤µÂ¨oª oµŠ˜oœ o°¤¼¨­Îµ‡´š¸Éœ´„ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ÄoÄœ„µ¦ª·Á‡¦µ³®r‹³¡»nŠÁžjµÅžš¸É ¦µ‡µÂ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥ ‹¹Š—¼Á®¤º°œªnµœ´„ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ ¦nœ °Á ˜ °Š„µ¦«¹„¬µ „µ¦ª·Á‡¦µ³®r ž{‹‹´¥¡ºÊœ“µœ )XQGDPHQWDO $QDOVLV ×¥„¦³Ã——Åž«¹„¬µš¸É o°­¦»ž °ŠŸ¨„¦³šÁ¨¥ ¨³Ä®o‡ªµ¤­œÄ‹„´­µÁ®˜» œo°¥¤µ„Ánœ™oµ¦µ‡µž¦´˜´ª­¼Š ¹Êœ‹³®¤µ¥™¹Š„µ¦Áž¨¸É¥œÂž¨ŠÄœž{‹‹´¥˜nµŠÇ‡n°œ oµŠÁž}œÅžÄœÁ·Šª„˜n™oµ®µ„ªnµ¦µ ‡µ¤¸„µ¦ž¦´˜´ª¨Š „È®¤µ¥‡ªµ¤ªnµ „µ¦Áž¨¸É¥œÂž¨ŠÄœž{‹‹´¥˜nµŠÇ‹³‡n°œÅžÄœš·«šµŠÁ·Š¨ Äœ –³š¸É„µ¦ª·Á‡¦µ³®r ž{‹‹´¥¡ºÊœ“µœ‹³Áž}œ„µ¦Á‹µ³¨¹„¨ŠÅžÄœ­µÁ®˜»š¸ÉÁž}œÂ¦ŠŸ¨´„—´œ˜n°°»ž­Š‡r¨³°»žšµœš¸ÉÁ„·— ¹ÊœÂ˜nš´ÊŠª·›¸˜nµŠ„Ȥ»nŠÁ oµ ŞŠž{®µÄœÁ¦ºÉ°Šš·«šµŠ °Š¦µ‡µ®»oœš¸É‡ª¦‹³Áž}œÁ®¤º°œÇ„´œ—´Šœ´ÊœÁ¤ºÉ°šnµœŸ¼o°nµœš¦µ™¹ŠÂœª‡·—œ¸Ê¨oª®µ„¤¸‡œ¤°Š ªnµ „µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ÁºÉ°™º°Å¤nÅ—ošnµœ„È°¥nµÅžªiµÁ µÁ®¨nµœ´ÊœÁ¨¥‡¦´ Á¡¦µ³Á µ°µ‹‹³Å¤nš¦µÂœª‡·—š¸É°¥¼n ÁºÊ°Š®¨´Š„ÈÁž}œÅ—o
  • 14. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- ¦µ‡µ‹³¥´Š‡ŠÁ‡¨ºÉ°œÅ®ªÅž˜µ¤ÂœªÃœo¤Á—·¤ ‹ª„¦³š´ÉŠÂœªÃœo¤Á—·¤®¤—¨Š‹¦·ŠÇ o°‡ªµ¤ oµŠ˜oœ¤¸‡ªµ¤ ­¤¼¦–rÄœ˜´ªÁ°Š°¥¼n¨oªÂ˜nÁ¡ºÉ°Ä®oŸ¼o°nµœµŠšnµœš¸É¥´ŠÅ¤nš¦µ‡ªµ¤®¤µ¥ °ŠÂœªÃœo¤¤¸‡ªµ¤„¦³‹nµŠÄœ o°œ¸Ê¤µ„ ¹Êœ °¥µ„‹³Ä®oŸ¼o°nµœœ¹„Ž³ªnµšnµœÅ—oÃ¥œ¨¼„ždŠž°Š ¹ÊœÄœÅžÄœ°µ„µ« ×¥š¸É¨¼„ždŠž°Š™º°ªnµÁž}œ¦µ‡µ®»oœ„Ȩoª„´œ ‹³Á®ÈœÅ—o ªnµ¨¼„ždŠž°Šœ´Êœ‹³Á‡¨ºÉ°œ˜´ª ¹ÊœÅžÁ¦ºÉ°¥Ç˜µ¤š·«šµŠ„µ¦Ã¥œÂ¨³Â¦Š­nŠ Ã¥œ ˜°œÂ¦„˜nÁ¤ºÉ°Áª¨µŸnµœÅžÂ¦Š­nŠ‹³ ‡n°¥ÇŸnª¨Š —oª¥Á®˜»Ÿ¨°³Å¦„ȨoªÂ˜n „µ¦Á‡¨ºÉ°œ˜´ª °Š¨¼„ždŠž°Šœ´Êœ ‹³Á¦·É¤oµ¨ŠÁ¦ºÉ°¥Ç ‹œ„¦³š´ÉŠÂ¦Š­nŠœ´Êœ®¤—¨Š ¨¼„ždŠž°Š„È‹³¦nªŠ®¨nœ¨Š¤µ Ž¹ÉŠ­£µ¡„µ¦Á‡¨ºÉ°œ˜´ª °Š¨¼„ždŠž°Š œ´˜´ÊŠÂ˜nÃ¥œ‹œ™¹Š„n°œš¸É‹³®¨nœ¨Š¤µ ‹³°¥¼nÄœš·« šµŠ®¦º°ÂœªÃœo¤ µ ¹ÊœÂ¨³‹³Á¦·É¤Áž¨¸É¥œš·«šµŠ¤µÁž}œ µ¨Š ˜°œ¨¼„ždŠž°ŠÁ¦·É¤˜„¨Š ®¨´Š‹µ„š¸ÉÂœªÃœo¤ µ ¹Êœ®¤—¨Š ¨oª ¦¼žÂ®¦º°¡§˜·„¦¦¤ °Š®»oœš¸ÉÁ„·— ¹ÊœÄœ°—¸˜ ­µ¤µ¦™š¸É‹³œÎµ¤µÄoÅ—oÄœž{‹‹»´œÂ¨³°œµ‡˜ ®¦º°š¸ÉµŠšnµœ °µ‹Á¦¸¥„ªnµž¦³ª´˜·«µ­˜¦rŽÎʵ¦°¥˜´ª¤´œÁ°ŠÁœºÉ°Š‹µ„„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡°·Š°¥¼nœ¦µ‡µÂ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥ 9ROXPH Ž¹ÉŠÁž}œ˜´ª­³šo°œŸ¨­»š›· °ŠÂ®¨nŠ o°¤¼¨ LQIRUPDWLRQVHW Äœ„µ¦‡µ—„µ¦–rŽ¹ÉŠ¦µ‡µÂ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥œ¸Ê Áž}œ˜´ªnŠ°„‹·˜ª·š¥µÄœÂŠn °Š‡ªµ¤„¨oµ®¦º°‡ªµ¤„¨´ª²¨²Ž¹ÉŠÅ¤nªnµ¥»‡Ä—­¤´¥Ä—¦¦—µ‡ªµ¤š´ÊŠ®¨µ¥ oµŠ˜oœ„ÈŤn Á‡¥Áž¨¸É¥œ—´Šœ´Êœ¦¼žÂš¸ÉÁ„·— ¹ÊœÄœ°—¸˜ š¸É­³šo°œ‹·˜ª·š¥µÄœnªŠÁª¨µœ´Êœ ‹¹Š¥´Š‡Š­µ¤µ¦™š¸É‹³œÎµ¤µÄoÅ—oÄœž{‹‹»´œ ¦ª¤™¹Š„µ¦Ä®oÁŠºÉ°œÅ ®¦º°‡ªµ¤œnµ‹³Áž}œ­Îµ®¦´š·«šµŠ„µ¦Á‡¨ºÉ°œÅ®ª °Š®»oœš¸É‹³Á„·— ¹ÊœÄœ°œµ‡˜ š´ÊŠ o° oµŠ˜oœœ´Êœ™º°Å—oªnµÁž}œÂœª‡·—®¦º°‡ªµ¤ÁºÉ°¤¼¨“µœš¸ÉÁž}œ‹»—„εÁœ·— °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡—´Šœ´ÊœµŠ‡¦´ÊŠ Á¤ºÉ°šnµœŸ¼o°nµœÅ—oÁ oµÅžÄœ­nªœ °Š®¨´„„µ¦ª·Á‡¦µ³®r °Ä®ošnµœŸ¼o°nµœš¦µªnµ ®¨´„„µ¦Á®¨nµœ´Êœ¤¸Âœª‡·—Á®¨nµœ¸Ê°¥¼nÁºÊ°Š ®¨´Š °¥nµŠÅ¦„Șµ¤ šnµœŸ¼o°nµœ¡¹Š¦³¨¹„Ūoªnµ ×¥˜´ª °Š„¦µ¢Á°Šœ´Êœ ŤnÅ—oÁž}œ­µÁ®˜»š¸ÉšÎµÄ®o¦µ‡µ®»oœ¤¸„µ¦ž¦´˜´ª­¼Š ¹Êœ ®¦º°¨—¨ŠÁ¡¦µ³„¦µ¢œ´ÊœÁž}œÁ¡¸¥Š­·ÉŠš¸É¡·¤¡rœ„¦³—µ¬ÂŸnœ®œ¹ÉŠÁšnµœ´ÊœÂ˜n—oª¥„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡š¸Éšnµœ‹³Å—o °nµœ˜n°Åž šÎµÄ®ošnµœ¤¸Á‡¦ºÉ°ŠÅ¤oÁ‡¦ºÉ°Š¤º°Äœ„µ¦ª·Á‡¦µ³®r Ž¹ÉŠ‹³Áž}œ„µ¦—¹ŠÁ°µ­·ÉŠš¸É¦µ‡µ®»oœ°¥µ„‹³°„œ´Êœ°°„¤µ ªnµ ¦µ‡µ®»oœœ´Êœ‹³Á‡¨ºÉ°œ˜´ªÅžÄœš·«šµŠÄ—®¦º°­¤‡ª¦Â„nÁª¨µÂ¨oªš¸É‹³¤¸„µ¦Áž¨¸É¥œÂœªÃœo¤Á„·— ¹Êœ š§¬’¸—µª 'RZ7KHRU ®¨´Š‹µ„š¸ÉšnµœŸ¼o°nµœÅ—oš¦µ™¹ŠÂœª‡·—®¦º°‡ªµ¤ÁºÉ° š¸ÉÁž}œ‹»—„εÁœ·— °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Â¨oª ˜°œœ¸Ê°¥µ„Ä®o šnµœŸ¼o°nµœ¨°Š¤µšÎµ‡ªµ¤Á oµÄ‹„´š§¬‘¸šµŠÁš‡œ·‡¥»‡»„Á·„š¸É¤¸ºÉ°ªnµ'RZ7KHRU„n°œš¸É‹³Á oµÅž­¼n„¦³ªœ¥»š›rÄœ „µ¦ª·Á‡¦µ³®rš¸É°¥¼nÄœš™´—ÅžŽ¹ÉŠ¤¸­µ¦³­Îµ‡´š¸Éž¦µ„‘Äœš§¬‘¸œ¸Ê—´Š˜n°Åžœ¸Ê £µ¡Ã—¥¦ª¤ °Š˜¨µ— Å—o—¼—Ž´Á®˜»„µ¦–rš»„­·ÉŠš»„°¥nµŠš¸ÉÁ„·— ¹ÊœÁ°µÅªo¨oª šnµœŸ¼o°nµœ°µ‹‹³­Š­´¥ªnµ¤´œ ‡¨oµ¥„´Âœª‡·—ÁºÊ°Š˜oœš¸ÉÁ‡¥„¨nµªÅªo „È °˜°ªnµÄn‡¦´ ˜n¤¸ o°Â˜„˜nµŠ°¥¼nœ·—®œ¹ÉŠ˜¦Šš¸ÉÄœ„¦–¸œ¸Ê ‹³¡¼—™¹Š£µ¡Ã—¥ ¦ª¤¤µ„„ªnµš¸É‹³Áž}œ®»oœ˜´ªÄ—˜´ª®œ¹ÉŠÁšnµœ´Êœ
  • 15. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- ÂœªÃœo¤ µ ¹Êœ XSWUHQG ‹³˜o°Š¤¸¨´„¬–³—´Šœ¸Ê‡º°‹»—¥°—¨³‹»—„oœ¹ÊŠš¸ÉÁ„·— ¹Êœ‹³˜o°Š°¥¼n­¼Š„ªnµ‹»—¥°—¨³ ‹»—„oœ¹ÊŠ°´œ„n°œ®œoµ Äœ –³š¸ÉÂœªÃœo¤ µ¨Š ‹»—¥°—¨³‹»—„oœ¹ÊŠš¸ÉÁ„·— ¹Êœ ‹³˜o°Š°¥¼n˜Îɵ„ªnµ‹»—¥°—¨³‹»—„oœ¹ÊŠš¸É°¥¼n „n°œ®œoµŽ¹ÉŠ®¨´„„µ¦œ¸ÊÁ°Šš¸ÉÁž}œš¸É¤µ °Šœ·¥µ¤ÂœªÃœo¤ WUHQG š¸É‹³Å—o„¨nµªÄœš™´—Åž œ°„‹µ„œ¸Ê'RZ¥´ŠÅ—onŠ¦³¥³Áª¨µ °ŠÂœªÃœo¤°°„Áž}œnªŠ‡º°SULPDUVHFRQGDU¨³PLQRUŽ¹ÉŠ˜´ªÁ µ Å—oÁž¦¸¥¦³¥³Áª¨µš´ÊŠ ­nªœ oµŠ˜oœ„´‡¨ºÉœÄœš³Á¨ ªnµÁ®¤º°œÁž}œ„¦³Â­œÎʵ WLGH ‡¨ºÉœ ZDYHV ¨³ ¢°Š‡¨ºÉœ ULSSOHV ˜µ¤¨Îµ—´ nªŠSULPDU‹³„·œ¦³¥³Áª¨µ¤µ„„ªnµže ¹ÊœÅžÄœ –³š¸ÉnªŠVHFRQGDU‹³„·œ¦³¥³Áª¨µ­´ž—µ®r™¹ŠÁ—º°œ nªŠVHFRQGDUœ¸Ê™º°Å—oªnµÁž}œnªŠ¦³¥³Áª¨µÄœ„µ¦ž¦´˜´ª FRUUHFWLRQ ÄœSULPDUWUHQG˜´ª°¥nµŠÁnœ™oµÂœªÃœo¤Á—·¤ ÄœnªŠSULPDUÁž}œ µ ¹Êœ„µ¦ž¦´˜´ªÄœVHFRQGDU„È‹³Áž}œ µ¨Š®¦º°®µ„ÂœªÃœo¤Á—·¤ÄœnªŠSULPDUÁž}œ µ¨Š„µ¦ ž¦´˜´ªÄœVHFRQGDU„È‹³Áž}œ µ ¹ÊœŽ¹ÉŠªnµ„´œªnµÃ—¥ž„˜·„µ¦ž¦´˜´ª‹³¤¸¦³¥³®¦º° °ŠÂœªÃœo¤Á—·¤„n°œš¸É‹³ Á¦·É¤ª„˜´ª„¨´Á oµ­¼nÂœªÃœo¤Á—·¤ SULPDU ˜nn°¥‡¦´ÊŠ¤´„‹³Á„·— ¹Êœ¦³—´­nªœnªŠPLQRU‹³„·œ¦³¥³Áª¨µœo°¥„ªnµ ­´ž—µ®r‹¹Š™º°ªnµnªŠPLQRUœ¸ÊÁž}œÁ¡¸¥ŠÂ‡n„µ¦Â„ªnŠ˜´ª °Š¦µ‡µš¸ÉÁ„·— ¹ÊœÁšnµœ´Êœ ®µ„¡·‹µ¦–µ¡§˜·„¦¦¤„µ¦¨Šš»œÄœÂœªÃœo¤­Îµ‡´®œ¹ÉŠÇÁnœÂœªÃœo¤ µ ¹Êœ‹³¤¸°¥¼n‹´Š®ª³‡º° ‹´Š®ª³Â¦„Áž}œ‹´Š®ª³š¸Éœ´„¨Šš»œš¸ÉÁ¨ÈŠÁ®Èœ„µ¦–rÅ„¨Á oµ¤µo°œŽºÊ°®»oœÁ¡¦µ³Á®Èœªnµ nµª‡¦µªÁ·Š¨Å—o ™¼„—¼—Ž´Åž®¤—¨oªÄœ˜¨µ— ¨³¤¸Ã°„µ­š¸É nµª­µ¦Á·Šª„‹³‡n°¥Çž¦µ„‘°°„¤µ Ž¹ÉŠ‹´Š®ª³œ¸ÊÁ¦¸¥„ªnµ nªŠÁ„ȝ °Š DFFXPXODWLRQSKDVH ‹´Š®ª³š¸É­°ŠÁž}œ‹´Š®ª³š¸ÉŸ¼o¨Šš»œš¸ÉÁœoœ„µ¦¨Šš»œ˜µ¤ÂœªÃœo¤˜¨µ—Á oµ¤µ¤¸­nªœ¦nª¤¤µ„ ¹ÊœÄœ˜¨µ— ×¥¤¸Â¦Š®œ»œ‹µ„ o°¤¼¨ nµª­µ¦šµŠ›»¦„·‹Á·Šª„š¸Éž¦µ„‘´—¤µ„ ¹Êœ­nŠŸ¨Ä®o¦µ‡µÃ—¥¦ª¤¤¸„µ¦ž¦´˜´ª­¼Š ¹Êœ ‹´Š®ª³š¸É­µ¤ Áž}œ‹´Š®ª³š¸É¤¸Ÿ¼oÁ¨nœ°¥¼nÄœ˜¨µ—¤µ„¥·ÉŠ ¹Êœ nµª­µ¦Á·Šª„‹³®¨´ÉŠÅ®¨„´œ°°„¤µ¤µ„¤µ¥ „µ¦Á„ÈŠ„εŦ¤¸¤µ„ ¹Êœ Ž¹ÉŠ­£µ¡š¸ÉÁ„·— ¹Êœœ¸Ê ™º°Å—oªnµÁž}œ„µ¦°„Ä®oœ´„¨Šš»œš¸ÉÁ‡¥Á¨ÈŠ„µ¦–rÅ„¨‹µ„Äœ‹´Š®ª³Â¦„ ‡ª¦Á¦·É¤ š¥°¥šÎµ„εŦ°°„Åž„n°œš¸É‹³¤¸Â¦Š µ¥ž¦µ„‘°°„¤µŽ¹ÉŠ‹´Š®ª³œ¸ÊÁ¦¸¥„ªnµnªŠ¦³µ¥ °Š GLVWULEXWLRQSKDVH œ´¥­Îµ‡´ °ŠÂœªÃœo¤‡ª¦š¸É‹³¥ºœ¥´œŽ¹ÉŠ„´œÂ¨³„´œ„¨nµª‡º°Äœ¥»‡ °Š'RZœ´Êœ¤¸‡nµÁŒ¨¸É¥š¸ÉčoÁž}œ˜´ªª´—®¦º°—¼ £µ¡¦ª¤°¥¼n‡nµ‡º°LQGXVWULDODYHUDJH¨³UDLODYHUDJHŽ¹ÉŠÁ µÁ®Èœªnµ­´µ–„µ¦ž¦´˜´ª­¼Š ¹Êœ®¦º°ž¦´˜´ª¨Š °Š ˜¨µ—‹³Å¤n¤¸œ´¥­Îµ‡´®µ„LQGXVWULDO¨³UDLODYHUDJHVŤnÁž}œÅžÄœš·«šµŠÁ—¸¥ª„´œŽ¹ÉŠ˜¦Š‹»—œ¸ÊÁ°ŠÁž}œ‹»—˜„˜nµŠ ¦³®ªnµŠ'RZ7KHRU¨³(OOLRWW:DYH7KHRU Ž¹ÉŠ‹³Å—o„¨nµª™¹ŠÄœš®¨´ŠÇ Á¡¦µ³(OOLRWWZDYHŤn¤¸„µ¦¡¼—™¹Š„µ¦¥ºœ ¥´œš·«šµŠ—oª¥‡nµÁŒ¨¸É¥°¸„‡nµ®œ¹ÉŠ ž¦·¤µ–„µ¦ŽºÊ° µ¥ Áž}œž{‹‹´¥­Îµ‡´š¸ÉčoÄœ„µ¦¥ºœ¥´œÂœªÃœo¤ ˜´ª°¥nµŠÁnœ ®µ„ÂœªÃœo¤ °Š¦µ‡µÁž}œ µ ¹Êœ XSWUHQG ž¦·¤µ–„µ¦ŽºÊ° µ¥‡ª¦‹³Á¡·É¤ ¹Êœ˜µ¤ –³š¸É¦µ‡µ ¥´˜´ª ¹Êœ ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥ ‡ª¦‹³œo°¥¨Š ®µ„¦µ ‡µ¤¸„µ¦ž¦´˜´ª¨Š­£µ¡š¸ÉÁ„·— ¹ÊœÁnœœ¸Ê‹¹Š™º°ªnµÂœªÃœo¤ °Š¦µ‡µ¥´Š‡ŠÁž}œ µ ¹Êœ°¥¼n ÄœšµŠ„¨´„´œ®µ„ÂœªÃœo¤ °Š¦µ‡µÁž}œ µ¨Š GRZQWUHQG ž¦·¤µ–„µ¦ŽºÊ° µ¥‡ª¦‹³Á¡·É¤ ¹Êœ˜°œš¸É¦µ‡µ¤¸„µ¦ ž¦´˜´ª¨ŠÂ¨³ž¦·¤µ–„µ¦ŽºÊ° µ¥‡ª¦‹³œo°¥¨Š –³š¸É¦µ‡µ¤¸„µ¦—¸—˜´ª ¹Êœ ­£µ¡š¸ÉÁ„·— ¹ÊœÁnœœ¸Ê ‹¹Š™º°ªnµ ÂœªÃœo¤ °Š ¦µ‡µ¥´Š‡ŠÁž}œ µ¨Š°¥¼n
  • 16. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- °¥nµŠÅ¦„Șµ¤ ž¦·¤µ–„µ¦ŽºÊ° µ¥ Áž}œÁ¡¸¥ŠÂ‡nž{‹‹´¥š¸Éčož¦³„°„µ¦¡·‹µ¦–µ ˜n­·ÉŠš¸É‹³ÄoÁž}œ˜´ªÄ®o­´µ– ¥´Š‡Š°·Š°¥¼n„´¦µ‡µ ×¥ÁŒ¡µ³¦µ‡µžd— ÂœªÃœo¤‹³¥´Š‡Š™¼„ÁºÉ°ªnµ¤¸°¥¼n ‹ª‹œ„¦³š´ÉŠ¤¸­´µ–„µ¦Áž¨¸É¥œÂœªÃœo¤Á„·— ¹Êœ ®¨´„„µ¦œ¸ÊÁž}œ®¨´„¡ºÊœ “µœ°¸„ž¦³„µ¦ °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ š¸É¥´Š‡ŠÄo„´œ°¥¼nš»„ª´œœ¸Ê Ž¹ÉŠœÎµÅž­¼n„µ¦«¹„¬µÁ¦ºÉ°Š Âœª¦´Âœª˜oµœ ¦¼žÂ °Š¦µ‡µ˜¨°—‹œÁ‡¦ºÉ°Š¤º°Äœ„µ¦ª·Á‡¦µ³®r°ºÉœÇ°¸„¤µ„¤µ¥Äœ„µ¦°„™¹ŠÃ°„µ­Äœ„µ¦Áž¨¸É¥œÂœªÃœo¤ ž¦³Ã¥œr °Š„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ ¤µ™¹Š˜¦Š‹»—œ¸Ê Ÿ¼oÁ ¸¥œ°¥µ„¸ÊÄ®oÁ®Èœ™¹Š ž¦³Ã¥œr °Š„µ¦ª·Á‡¦µ³®ršµŠ—oµœÁš‡œ·‡ Ž¹ÉŠ®¨µ¥˜n°®¨µ¥‡œ¤¸‡ªµ¤‡·—Á¡¸¥Š ‡nªnµ˜o°Š„µ¦¦¼oŪoÁ¡ºÉ°ªnµ‹³Å—oÁ oµÅžÁ¨nœ®»oœÄ®oÅ—o„εŦ¤µ„ÇÁšnµœ´ÊœŽ¹ÉŠÂšo‹¦·ŠÂ¨oªÅ¤nčn‡nœ´ÊœÁ¡¦µ³ž¦³Ã¥œrš¸É™¼„˜o°Š œ´Êœ‹³Áž}œ—´Š oµŠ¨nµŠœ¸Ê˜nµŠ®µ„¨n³‡¦´ ¤¸‡ªµ¤¥º—®¥»nœÄœ„µ¦Äo­¼Š ®¤µ¥‡ªµ¤ªnµ ­µ¤µ¦™š¸É‹³ÄoÅ—o„´˜¨µ—„µ¦ÁŠ·œ˜nµŠÇ Ťn‹Îµ„´—ÁŒ¡µ³˜¨µ—®»oœ Ášnµœ´Êœ„¨nµª‡º°­µ¤µ¦™ÄoÅ—o„´š´ÊŠ˜¨µ—ÁŠ·œ¦³®ªnµŠž¦³Áš«°´˜¦µ—°„Á¸Ê¥š°Š‡Îµ²¨²Á¤ºÉ°Áš¸¥„´„µ¦ª·Á‡¦µ³®r šµŠ—oµœž{‹‹´¥¡ºÊœ“µœ š¸É°µ‹‹³Å¤nŠnµ¥œ´„š¸É‹³œÎµª·›¸„µ¦«¹„¬µÄœ˜¨µ—®œ¹ÉŠÅžÄo„´°¸„˜¨µ—®œ¹ÉŠÅ—o­ÎµÁ¦È‹¦¼ž¨Š˜´ª œ°„‹µ„œ¸Ê„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¥´Š­µ¤µ¦™ž¦´˜´ªÁ°ŠÄ®očoÅ—oÄœnªŠ¦³¥³Áª¨µš¸É˜„˜nµŠ„´œ°¥nµŠÁnœ¦³¥³­´Êœ®¦º° ¦³¥³¥µªÁž}œ˜oœ „µ¦¥nœ °Á ˜Â¨³¦³¥³Áª¨µÄœ„µ¦«¹„¬µ¨ŠÁ¤ºÉ°¤¸ o°‹Îµ„´—®¦º°‡nµÁ­¸¥Ã°„µ­šµŠ—oµœÁª¨µÁ¡¦µ³‹µ„š¸É„¨nµª ¤µÄœ˜°œ˜oœ‹³Á®ÈœÅ—oªnµ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡œ´Êœ¤»nŠÁ‹µ³Á oµÅžš¸ÉŸ¨­»š›· °Š­µÁ®˜»¤µ„„ªnµš¸É‹³¨ŠÅžÁ‹µ³¨¹„™¹Š˜´ª ­µÁ®˜»Á°Š Á¤ºÉ°Áš¸¥„´„µ¦ª·Á‡¦µ³®rž{‹‹´¥¡ºÊœ“µœš¸É˜o°ŠÄo¦³¥³Áª¨µ‡n°œ oµŠ¤µ„ Äœ„µ¦¨oªŠ¨¹„™¹Š­µÁ®˜»Á®¨nµœ´Êœ Ž¹ÉŠ °µ‹‹³Å¤nš´œ„µ¦ÄœµŠÃ°„µ­Á¡¦µ³Áª¨µÅ¤nÁ‡¥®¥»—‡°¥Ä‡¦ „µ¦ ¥´˜´ª ¹Êœ °Š¦µ‡µµŠ‡¦´ÊŠ Á„·— ¹Êœ„n°œš¸Éœ´„ª·Á‡¦µ³®ršµŠ—oµœž{‹‹´¥¡ºÊœ“µœ‹³‡oœ¡­µÁ®˜»š¸Éšo‹¦·Š Á¡¦µ³˜¨µ—š»„ª´œœ¸Ê¤¸‡ªµ¤Áž}œ­µ„¨¤µ„ ¹Êœ LQWHUQDWLRQDO Âœnœ°œ¤´œ¥n°¤¤¸­µÁ®˜»¤µ„¤µ¥®¨µ¥ž¦³„µ¦ š¸É­nŠŸ¨ „¦³š˜n°„µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µ ¤oªnµœ´„ª·Á‡¦µ³®rž{‹‹´¥¡ºÊœ“µœ ‹³Á oµÅž¦´š¦µ™¹Š­µÁ®˜»š¸Éšo‹¦·Š °Š„µ¦ ¥´˜´ª °Š¦µ‡µÂ˜n¦µ‡µ°µ‹‹³™¼„„¦³š—oª¥ž{‹‹´¥°´œ°ºÉœ˜n°ÁœºÉ°ŠÅž°¸„¨oª„ÈÅ—oŽ¹ÉŠ­Îµ®¦´œ´„‡oµÁŠ·œ®¦º°œ´„‡oµ®»oœµŠ‡¦´ÊŠÅ¤n °µ‹¦°‹œš¦µ­µÁ®˜»š¸Éšo‹¦·ŠÅ—oÁ¡¦µ³°µ‹‹³Á­¸¥Áž¦¸¥ÄœÁ·ŠÂ nŠ ´œ„´œ´„‡oµÁŠ·œ®¦º°œ´„‡oµ®»oœ¦µ¥°ºÉœ „µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Áž}œ„µ¦¦nœ¦³¥³Áª¨µÄœ„µ¦ª·Á‡¦µ³®r¨ŠšÎµÄ®oÁ¦µ­µ¤µ¦™ª·Á‡¦µ³®r˜¨µ—Å—o‹Îµœªœ ¤µ„„ªnµ Äœ –³š¸Éœ´„ª·Á‡¦µ³®ršµŠž{‹‹´¥¡ºÊœ“µœ°µ‹‹³˜o°Š‹Îµ„´—˜´ªÄ®oÁž}œŸ¼oÁ¸É¥ªµšµŠ—oµœ„¨»n¤›»¦„·‹Ä—›»¦„·‹®œ¹ÉŠ ÁœºÉ°Š‹µ„ o°‹Îµ„´—šµŠ—oµœÁª¨µš¸É¤¸‹Îµ„´— Äœ –³š¸Éž¦·¤µ– °Š o°¤¼¨¤¸¤µ„ Ÿ¨š¸É˜µ¤¤µ„ȇº° „µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ­µ¤µ¦™nª¥Ä®oÁ¦µ—¼„µ¦Á‡¨ºÉ°œÅ®ªÅ®ª °Š¦µ‡µÄœ„¨»n¤°»˜­µ®„¦¦¤˜nµŠÇÅ—oŠnµ¥Â¨³¦ª—Á¦Èª ¹Êœ¡¦o°¤š´ÊŠÁ®Èœ£µ¡Ã—¥¦ª¤ °¥nµŠ„ªoµŠÇÅ—oŠnµ¥„ªnµ
  • 17. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- Ä®o‹´Š®ª³Äœ„µ¦Á oµ°°„˜¨µ— ®»oœ „¨nµª‡º° ­´µ–šµŠÁš‡œ·‡‹³Áž}œ˜´ª°„ªnµ­¤‡ª¦Â„nÁª¨µ®¦º°¥´Š š¸É ‹³Á oµÅžŽºÊ° µ¥®»oœÄœ˜¨µ—®¦º°¥´ŠÅ¤n¤¸‡ªµ¤‹ÎµÁž}œš¸É‹³˜o°Š°¥¼nÄœ˜¨µ—ÄœnªŠœ¸Ê o°Á­¸¥Â¨³‡ªµ¤Á oµÄ‹Ÿ·—ǝµŠž¦³„µ¦Á„¸É¥ª„´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ Âœnœ°œ‡¦´¤¸ o°—¸„Șo°Š¤¸ o°Á­¸¥Å¤n¤¸°³Å¦­¤¼¦–rÅžÁ­¸¥®¤—š»„°¥nµŠ™¹Š˜°œœ¸Ê°¥µ„Ä®ošnµœŸ¼o°nµœ¦´¢{Š o°Á­¸¥ °Š„µ¦ ª·Á‡¦µ³®ršµŠÁš‡œ·‡oµŠÂ¨³°¥µ„šÎµ‡ªµ¤Á oµÄ‹µŠ°¥nµŠš¸É®¨µ¥Ç‡œÁºÉ°Ÿ·—ÇÁ„¸É¥ª„´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ¤oªnµ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡‹³nª¥‹Îµ„´— °Á ˜Â¨³¦nœ¦³¥³Áª¨µÄœ„µ¦ª·Á‡¦µ³®rÅ—o ˜n„µ¦¡·‹µ¦–µÂ˜n Á¡¸¥ŠŸ¨­¦»ž­»—šoµ¥ °ŠÁ®˜»„µ¦–r „È°µ‹‹³šÎµÄ®o„µ¦ª·Á‡¦µ³®rœ´ÊœÅ¤n¤¸‡ªµ¤¨¹„Á¡¸¥Š¡° ¨³°µ‹‹³˜„Áž}œÁ®¥ºÉ° °Š„µ¦ ž{~œ®»oœÅ—oŽ¹ÉŠ°´œš¸É‹¦·ŠÂ¨oª­µ¤µ¦™Â„oÅ Å—ooµŠ—oª¥„µ¦˜´ÊŠVWRSÁ°µÅªo¨nªŠ®œoµÂ¨³Ä‹‹³˜o°ŠÂ ÈŠ¡°š¸É‹³ÁŒº°œÁœºÊ°¦oµ¥š·ÊŠ Å—oÁª¨µš¸ÉÁ„·—ž{®µ Á¡¦µ³ÄœnªŠš¸É˜¨µ—®ªº°®ªµ¤µ„ „µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µš¸ÉÁž}œÅžÄœš·«šµŠš¸ÉÁ¦µÅ¤nÅ—o‡µ—‡·—¤µ „n°œ„È‹³¦»œÂ¦Š¤µ„Ž¹ÉŠ®¤µ¥‡ªµ¤ªnµ‹ÎµœªœÁœºÊ°¦oµ¥š¸É‹³˜o°ŠÁŒº°œ„ÈÁ¥°³ ¹Êœ˜µ¤Åž—jª¥ „µ¦Äo„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ץŤn¦¼oŽ¹ÊŠ™¹ŠÂœª‡ªµ¤‡·—ÁºÊ°Š®¨´Š °ŠÁš‡œ·‡˜nµŠÇ „È­µ¤µ¦™„n°Ä®oÁ„·— °´œ˜¦µ¥Å—o¤µ„¡°­¤‡ª¦Ánœ„µ¦ÄoÁ‡¦ºÉ°Š¤º°ž¦³Á£š˜µ¤ÂœªÃœo¤ WUHQGIROORZLQJVVWHP Äœ˜¨µ—š¸É¤¸„µ¦Á‡¨ºÉ°œ Å®ªÂÅ¦oš·«šµŠÃ—¥Å¤n¤¸ÂœªÃœo¤ VLGHZD ‹³¤¸Ÿ¨Â˜nšÎµÄ®oÁ¦µÁ oµÇ°°„Ç×¥š¸É„εŦ°µ‹‹³ÂšÅ¤n¤¸®¦º°¤¸„Èš‹³ Ťn¡°‡nµÃ¦„Á„°¦r °¥¼nÁŒ¥Ç—¸„ªnµ —´Šœ´Êœ ™oµ¦´„‹³Áž}œœ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡ „ȇª¦‹³˜o°ŠÁ oµÄ‹™¹ŠÂœª‡ªµ¤‡·— °Š Á‡¦ºÉ°Š¤º°š¸É‹³œÎµ¤µÄoÄ®o—¸Á­¸¥„n°œÂ¨³œÎµ¤µž¦³­¤ž¦³­µœÄ®oÁ oµ„´š·«šµŠ„µ¦Á‡¨ºÉ°œÅ®ª °Š˜¨µ— œ´„¨Šš»œµŠšnµœÁ oµÄ‹ªnµ Á¤ºÉ°¦¼oª·›¸„µ¦šµŠÁš‡œ·‡Â¨oª‹³­µ¤µ¦™ŽºÊ°Å—oš¸É¦µ‡µ˜Îɵ­»— ¨³ µ¥Å—oš¸É¦µ‡µ­¼Š­»— Ž¹ÉŠÄœÃ¨„ °Š‡ªµ¤Áž}œ‹¦·ŠÂ¨oªÅ¤n¤¸Á‡¦ºÉ°Š¤º°®¦º°Áš‡œ·‡Å®œÄœÃ¨„œ¸Ê­µ¤µ¦™‹³šÎµÅ—o°´œš¸É‹¦·ŠÂ¨oªÁ‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡ Á¡¸¥ŠÂ‡n°„ªnµnªŠÅ®œ‡ª¦Á oµ˜¨µ— ¨³nªŠÅ®œ‡ª¦‹³°°„‹µ„˜¨µ— ®¦º°nªŠÅ®œš¸ÉÁž}œ„µ¦¥ºœ¥´œªnµÂœªÃœo¤Á—·¤Å—o Áž¨¸É¥œÂž¨ŠÅžÂ¨oªÂ¨³„ªnµ‹³¤¸„µ¦¥ºœ¥´œªnµÁž}œ„µ¦Áž¨¸É¥œÂœªÃœo¤‹¦·ŠÁ¦µ„È°µ‹‹³Á¨¥‹»—˜Îɵ­»—®¦º°­¼Š­»—ިoªÂ˜n„È ­µ¤µ¦™¨—‡ªµ¤Á­¸É¥ŠÁœºÉ°Š‹µ„„µ¦Á oµ°°„ Ÿ·—Ç™¼„ÇÅ—o °¥nµŠÅ¦„È—¸ „µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Å¤nÁ‡¥¥ºœ¥´œªnµ‡»–‹³Å—o „εŦ­¼Š­»— ¥„ÁªoœÂ˜n¢¨»p‡‹¦·ŠÇ œ°„‹µ„œ¸Ê ­´µ– °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ „ÈŤn‹ÎµÁž}œ‹³˜o°Š™¼„Á­¤°Åž „µ¦š¸ÉÁ¦µ¤¸žgœ„¨ ŤnÅ—o®¤µ¥ ‡ªµ¤ªnµ‹³˜o°Š¥·Š™¼„ÁžjµÁ­¤°Åž Á¡¸¥ŠÂ˜nð„µ­™¼„Ážjµ¤´œ—¸ ¹ÊœÁšnµœ´Êœ Ťn¤¸Á‡¦ºÉ°Š¤º°°³Å¦š¸É­ÎµÁ¦È‹¦¼ž­¤¼¦–r¦o°¥Áž°¦r ÁŽœ˜r ¤o³®¤¸É‹³¤¸Â­ÎµÁ¦È‹¦¼ž µ¥„ÈÁ®°³ Ÿ¼očoÁ‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡‹³˜o°Š¤¸ª·œ´¥š¸É—¸ Äœ„µ¦š¸É‹³¥°¤¦´Á¤ºÉ°„µ¦ ª·Á‡¦µ³®rÄ®oŸ¨Ÿ·—¡¨µ—¨³Á˜¦¸¥¤˜´ªÁŸºÉ°­™µœ„µ¦–rœ¸ÊÁ°µÅªo—oª¥„µ¦˜´ÊŠVWRSÁ°µÅªoÁ¨¥‡º°™oµ™¹Š‹»—œ¸Ê‹³¥°¤¦´˜´ª Á°ŠªnµŸ·—¨³˜´—Ä‹ µ¥š·ÊŠ ®¦º°ŽºÊ°„¨´Â¨oªÂ˜n„¦–¸ ¤¸°³Å¦Äœ®œ´Š­º°Á¨n¤œ¸Ê
  • 18. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ î¤Ã¦Š -- Äœ®œ´Š­º°Á¨n¤œ¸Ê Á¦µ‹³¡¼—™¹ŠÁ‡¦ºÉ°Š¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡˜nµŠÇ š¸ÉÁž}œš¸Éœ·¥¤Äo„´œ ×¥¡¥µ¥µ¤š¸É‹³Ä®o‡¦°‡¨»¤ Á‡¦ºÉ°Š¤º°Ä®o¤µ„š¸É­»—Ášnµš¸Éž{µÂ¨³Áª¨µ °ŠŸ¼oÁ ¸¥œ‹³­µ¤µ¦™šÎµÅ—oץnŠ°°„Áž}œ£µ‡Ä®nÇ £µ‡Â¦„ Áž}œ„µ¦ž¼¡ºÊœ“µœ °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ž¦³Á£š 7UHQGOLQH KDUWLQJ 7HFKQLTXH Ž¹ÉŠÁž}œÂ—´ÊŠÁ—·¤š¸É œ·¥¤Äo„´œ¤µoµœµœÂ¨³Áž}œ¦¼žÂ¡ºÊœ“µœš¸É„¨µ¥Áž}œ˜oœÂ °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¥»‡®¨´ŠÇץĜšš¸É‹³ Áž}œ„µ¦°›·µ¥™¹Šª·›¸„µ¦Á ¸¥œKDUWšµŠÁš‡œ·‡¦¼žÂ °Š%DUKDUW°¥nµŠŠnµ¥š¸ÉčošnŠ%DUÁ¡¸¥ŠÅ¤n„¸Éª´œ˜¨°—‹œ „µ¦šÎµ‡ªµ¤Á oµÄ‹ÁºÊ°Š˜oœÁ„¸É¥ª„´ÂœªÃœo¤ Äœšš¸É ‹³Áž}œ„µ¦°›·µ¥™¹ŠÂœª‡ªµ¤‡·—Á„¸É¥ª„´¦¼žÂ˜nµŠÇ °Š„µ¦ Áž¨¸É¥œÂœªÃœo¤ 5HYHUVDO3DWWHUQV šš¸É‹³Áž}œÁ¦ºÉ°Š °Š¦¼žÂ˜n°ÁœºÉ°Š RQWLQXRXV3DWWHUQV Ž¹ÉŠÁž}œ¦¼žÂš¸É ˜¨µ—®¥»—¡´„˜´ª´Éª‡¦µª„n°œš¸É‹³Á—·œ˜n°ÅžÄœš·«šµŠÁ—·¤Â¨³šš¸ÉÁž}œ„µ¦ª·Á‡¦µ³®rŸœ£¼¤·Â3RLQWDQG)LJXUH £µ‡š¸É­°Š‹³¡¼—™¹Š—´œ¸Á‡¦ºÉ°Š¸Ê ,QGLFDWRUV ˜nµŠÇ¨³Á‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡¥»‡®¨´ŠÇ×¥Á¦·É¤‹µ„šš¸ÉŽ¹ÉŠÁž}œ„µ¦ ž¼¡ºÊœÁ„¸É¥ª„´¦³‡nµÁŒ¨¸É¥Á‡¨ºÉ°œš¸É Ž¹ÉŠÁž}œÂ¤nš¸É˜„˜´ª°°„Áž}œÁ‡¦ºÉ°Š¸Ê˜nµŠÇ ¨³­µ¤µ¦™œÎµÅžÄo‡¼n„´Á‡¦ºÉ°Š¸Ê ˜nµŠÇÅ—o¤µ„¤µ¥šš¸É‹³¡¼—™¹ŠÁ‡¦ºÉ°Š¸Êš¸ÉÁ„¸É¥ª o°Š„´¦µ‡µ 3ULFH,QGLFDWRUV šš¸ÉÁž}œÁ¦ºÉ°Š °ŠÁ‡¦ºÉ°Š¸Êš¸ÉÁ„¸É¥ª o°Š „´ž¦·¤µ–„µ¦ŽºÊ° µ¥ 9ROXPH,QGLFDWRUV ¨³šš¸É‹³¡¼—™¹Š0DUNHW,QGLFDWRUVŽ¹ÉŠÁž}œÁ‡¦ºÉ°Š¸Êš¸Éčož¦³„°„µ¦ ¤°Š­£µ¡˜¨µ—×¥¦ª¤ £µ‡š¸É­µ¤‹³Áž}œÁ¦ºÉ°Š °Šš§¬’¸‡¨ºÉœÂ¨³ª´’‹´„¦Ã—¥Äœšš¸ÉÁž}œ„µ¦ž¼¡ºÊœ“µœ‡ªµ¤Á oµÄ‹Á„¸É¥ª„´˜´ªÁ¨ °Š¢dÝ œµ¸ÉŽ¹ÉŠÁž}œš¸É¤µ °Š­´—­nªœš°Š‡Îµ *ROGHQ5DWLR š¸Éčo„´œ°¥nµŠ„ªoµŠ ªµŠÄœÁ¦ºÉ°Š °Š„µ¦—¸—˜´ª 5HWUDFHPHQW ¨³¤¸ ‡ªµ¤­°—‡¨o°Š°¥nµŠÄ„¨o·—„´š§¬‘¸‡¨ºÉœ °Š°¸Á¨¸¥˜ (OOLRW:DYH7KHRU Ž¹ÉŠÁž}œ®´ª o°™´—Åžš¸ÉÁ¦µ‹³¡¼—™¹ŠÄœšš¸É ­nªœšš¸É ‹³¡¼—™¹ŠÂœª‡ªµ¤‡·—¨³„µ¦ž¦³¥»„˜rčo °Šš§¬’¸ *DQWW ¨³šš¸É ‹³Áž}œÁ¦ºÉ°Š„µ¦ª´—ª´’‹´„¦ FOHV ¨³„µ¦ž¦³¥»„˜rčoª´’‹´„¦„´Á‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡°ºÉœÇ £µ‡š¸É­¸ÉÁž}œÁ¦ºÉ°ŠÁ„¸É¥ª„´„µ¦ª·Á‡¦µ³®rŸœ£¼¤·ÂšnŠÁš¸¥œÂ¸Éž»iœŽ¹ÉŠÂ¤o‹³Á„·— ¹Êœ¤µœµœÂ¨oªÂ˜nÁ¡·ÉŠ‹³Áž}œš¸Éœ·¥¤„´œÄœ 脘³ª´œ˜„ Á¤ºÉ°Å¤n„¸Éžeš¸ÉŸnµœ¤µœ¸ÊÁ°Š ×¥šš¸É ‹³Á„¦·ÉœœÎµ™¹Šª·›¸„µ¦Á ¸¥œÂŸœ£¼¤·ÂÂšnŠÁš¸¥œÂ¨³‡ªµ¤®¤µ¥ °Š „µ¦°nµœÂšnŠÁš¸¥œ°¥nµŠŠnµ¥šš¸É°›·µ¥™¹Š¦¼žÂ„µ¦Áž¨¸É¥œÂœªÃœo¤ 7UHQG5HYHUVDO ĜŸœ£¼¤·ÂÂšnŠÁš¸¥œ ¨³šš¸ÉÁž}œ¦¼žÂ„µ¦Á‡¨ºÉ°œÅ®ªÄœš·«šµŠÁ—·¤ RQWLQXRXV3DWWHUQV £µ‡­»—šoµ¥Ž¹ÉŠ¤¸šÁ—¸¥ª‡º°šš¸ÉÁž}œ„¦–¸«¹„¬µ °Š„µ¦œÎµÁ°µÁ‡¦ºÉ°Š¤º°˜nµŠÇ °Š„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡¤µÄoÄœ šµŠž’·´˜·Ž¹ÉŠž¦³„°—oª¥„¦–¸˜nµŠÇ„¦–¸‹¹ŠÁ¦¸¥„ºÉ° °Šš­»—šoµ¥œ¸Êªnµ„¦³ªœ¥»š›r
  • 19. -- šš¸É „µ¦­¦oµŠKDUW œ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡ °µ«´¥¦¼ž„¦µ¢ ®¦º° KDUW Áž}œÁ‡¦ºÉ°Š¤º°­Îµ‡´Äœ„µ¦ šÎµ¤µ®µ„·œ—´Šœ´Êœ„n°œš¸ÉÁ¦µÅž™¹Š‹»—š¸É‹³®´—°nµœ„¦µ¢®µ¦¼žÂ˜nµŠÇÁ¦µ‡Š ‹³˜o°Š¤µšÎµ‡ªµ¤Á oµÄ‹Á„¸É¥ª„´®¨´„„µ¦ÁºÊ°Š˜oœ °Š„µ¦­¦oµŠKDUWÁ­¸¥„n°œ ®¨µ¥Çšnµœ‡Š‹³Á‡¥Á®ÈœÂŸœ£µ¡„¦µ¢®¦º°KDUWšµŠ—oµœ„µ¦ª·Á‡¦µ³®ršµŠ Áš‡œ·‡¤µÂ¨oª ‹³Á®Èœªnµ£µ¡œ´Êœž¦³„°—oª¥ šnŠš¸É˜´ÊŠŒµ„„´Âœªœ°œ®¨µ¥ÂšnŠ Ž¹ÉŠÂ˜n¨³ÂšnŠ„Ȥ¸ œµ—ŤnÁšnµ„´œ šnŠ Á®¨nµœ¸Êœ´Êœ šoš¸É‹¦·ŠÁž}œ„µ¦Â­—Š o°¤¼¨šµŠ­™·˜· °Š¦µ‡µš¸ÉÁ„·— ¹ÊœÄœÂ˜n¨³nªŠÁª¨µ ×¥®œ¹ÉŠnªŠÁª¨µ Ánœ ®œ¹ÉŠª´œ ‹³ ­—Š—oª¥ÂšnŠ®œ¹ÉŠÂšnŠÂšnŠœ¸Ê£µ¬µ°´Š„§¬Á¦¸¥„ªnµ%DU—´Šœ´ÊœÂŸœ£µ¡šµŠÁš‡œ·‡œ¸ÊµŠ‡¦´ÊŠÁ¦µ‹¹ŠÁ¦¸¥„ªnµ%DUKDUW ¦¼žš¸ÉŸœ£µ¡„¦µ¢Â¨³°Š‡rž¦³„°ÄœÂšnŠ„¦µ¢ ‡ªµ¤¥µª °ŠÂšnŠÂ˜n¨³ÂšnŠ ¹Êœ°¥¼n„´¡·­´¥ UDQJH ®¦º°nªŠ °Š„µ¦ŽºÊ° µ¥‹µ„¦µ‡µ­¼Š­»—Åž®µ˜Îɵ­»——´Šœ´Êœ™oµª´œœ´Êœ ¦µ‡µª·ÉŠ®ªº°®ªµ¤µ„ šnŠ„È‹³¥µª ­—ŠÄ®oÁ®Èœªnµ˜¨µ—ª´œœ´ÊœÂ„ªnŠ˜´ªÂ¦Š ˜n™oµª´œœ´Êœ˜¨µ—Ž¹¤Ç Ťn‡n°¥®ªº°®ªµ¤µ„ Á¦µ‹³¡ªnµÂšnŠœ´Êœ­´Êœ‹·Ë—Á—¸¥ªÂ¨³™oµª´œÅ®œš´ÊŠª´œŽºÊ° µ¥¤´œ°¥¼nš¸É¦µ‡µÁ—¸¥ª ®¦º°š´ÊŠª´œŽºÊ° µ¥„´œÂ‡n¦µ¥„µ¦Á—¸¥ª šnŠ „È‹³„¨µ¥Áž}œ‹»—ÅžÁ¡¦µ³¦µ‡µ­¼Š­»—„´˜Îɵ­»—¤´œÁšnµ„´œ ¦µ‡µ­¼Š­»— ¦µ‡µÁžd— ¦µ‡µžd— ¦µ‡µ˜Îɵ­»—
  • 20. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ¦µ‡µžd—„È™¼„­—Š°¥¼nœÂšnŠÁ®¤º°œ„´œ‡¦´Â­—ŠÁž}œ˜·ÉŠ°¥¼nšµŠ ªµ¤º° °ŠÂšnŠÁ¡ºÉ°nª¥Ä®oÁ¦µ—¼Âž¨kÁ—¸¥ª„Ȧ¼oÁ¨¥ªnµª´œ œ¸Ê¦µ‡µžd—Ä„¨o¦µ‡µ­¼Š­»—®¦º°žd—Ä„¨o¦µ‡µ˜Îɵ­»—œ°„‹µ„œ¸Ê¦µ‡µÁžd—„È­—ŠÁž}œ˜·ÉŠ°¥¼nšµŠŽoµ¥¤º°Á¡ºÉ°Ä®oÁ¦µ—¼¦¼oªnµÁžd— „´žd—¤´œ˜nµŠ„´œÂ‡nÅ®œ—´ŠÂ­—ŠÄœ¦¼žš¸É‹³Á®Èœªnµ­·ÉŠš¸É­—ŠÄœ®œ¹ÉŠÂšnŠœ´Êœ­µ¤µ¦™Ä®o o°¤¼¨Á¦µÅ—o¤µ„¤µ¥Â¨³Šnµ¥ „ªnµ—¼ o°¤¼¨—·Â¨³Á¤ºÉ°œÎµÁ°µÂšnŠÁ®¨nµœ¸Ê¤µÁ¦¸¥Š„´œ˜µ¤ª´œš¸É¤¸„µ¦ŽºÊ° µ¥Á¦µ„È‹³Å—o%DUKDUWŽ¹ÉŠ­µ¤µ¦™°„°³Å¦Á¦µ Å—o¤µ„¤µ¥ ¹ÊœÅž°¸„ ¦¼žÂŠnµ¥Ç„´ÂšnŠ%DU „n°œš¸É‹³¡µšnµœ˜³¨»¥Åž„´¦¼žÂ˜nµŠÇ °Š %DU KDUW Á¦µ‹³¤µ¡¼—„´œ™¹Š¦¼žÂŠnµ¥Ç š¸Éª´—„´œ—oª¥ÂšnŠÅ¤n„¸ÉšnŠ„n°œ °´œš¸É‹¦·Š¦¼žÂŠnµ¥ÇÁ®¨nµœ¸ÊŤn‡n°¥¤¸Ä‡¦¡¼—™¹Š„´œ¤µ„œ´„Äœ˜Îµ¦µ—oµœ„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡°µ‹‹³Á¡¦µ³¤´œÁ¦¸¥Šnµ¥ Á„·œÅž ‹œµŠšnµœ‡·—ªnµÅ¤n¤¸‡ªµ¤­Îµ‡´°³Å¦ ˜n¦¼žÂÁ®¨nµœ¸Ê „Ȥ¸°¥¼n®¨µ¥°´œ š¸É¤¸Âœª‡ªµ¤‡·—Ä„¨oÁ‡¸¥Š„´ -DSDQHVHDQGOHVWLFN¡°­¤‡ª¦—´Šœ´Êœ„µ¦¦¼o¦¼žÂœ¸ÊŪo˜nÁœ·ÉœÇ„ȇŠ‹³Å¤nÁ­¸¥®¨µ¥œ°„‹µ„œ¸Ê¦¼o¤µ„Ūo‡ŠÅ¤nÁž}œÅ¦ ‹³Äo®¦º°Å¤nčoÁž}œ°¸„Á¦ºÉ°Š®œ¹ÉŠ 8SVLGH5HYHUVDO 5 ¨³'RZQVLGH5HYHUVDO 5 Áž}œ¦¼žÂ °Š„µ¦Áž¨¸É¥œÂž¨Šš·«šµŠÄœ¦³¥³­´Êœ ×¥°µ«´¥ÂšnŠ„¦µ¢Á¡¸¥Š šnŠ ª„„´ÂœªÃœo¤¦³¥³­´Êœ °Š o°¤¼¨ Äœ°—¸˜ 8SVLGH5HYHUVDO‡º°„¦–¸š¸ÉÂœªÃœo¤¦³¥³­´Êœš¸ÉŸnµœ¤µ °Š¦µ‡µÁž}œÂœªÃœo¤¨ŠÂ¨³¦µ‡µ˜Îɵ­»—ª´œœ¸Êœo°¥„ªnµ¦µ‡µ˜Îɵ­»— Á¤ºÉ°ªµœœ¸Ê ˜n¦µ‡µžd—ª´œœ¸Ê„¨´­¼Š„ªnµ¦µ‡µžd—Á¤ºÉ°ªµœœ¸Ê /W /W ˜n W ! W ¨´„¬–³Ánœœ¸Ê ­—ŠªnµÅ—o¤¸„µ¦ ¡¥µ¥µ¤—´œ¦µ‡µÄ®o˜Îɵ¨ŠÅž„ªnµÁ¤ºÉ°ªµœœ¸Ê°¸„˜nªnµ¤¸Â¦ŠŽºÊ°®œ»œÁ oµ¤µÄœ¦³®ªnµŠª´œšÎµÄ®o¦µ‡µžd—­µ¤µ¦™ ¥´˜´ªÅ—o­¼Š ¹Êœ„ªnµÁ¤ºÉ°ªµœœ¸ÊŽ¹ÉŠÃ°„µ­š¸É˜¨µ—‹³—¸—˜´ª„¨´Áž}œÂœªÃœo¤ ¹ÊœÄœ¦³¥³­´Êœ„Ȥ¸°¥¼n¡°­¤‡ª¦ 'RZQVLGH5HYHUVDO‹³Á®¤º°œ„´8SVLGH5HYHUVDOÁ¡¸¥ŠÂ˜n„¨´„´œ„¨nµª‡º°ÂœªÃœo¤¦³¥³­´ÊœÁž}œÂœªÃœo¤ ¹ÊœÂ¨³ ¦µ‡µ­¼Š­»—ª´œœ¸Ê„È­¼Š„ªnµ¦µ‡µ­¼Š­»—Á¤ºÉ°ªµœœ¸Ê˜n¦µ‡µžd—ª´œœ¸Ê„¨´˜Îɵ„ªnµ¦µ‡µžd—Á¤ºÉ°ªµœœ¸Ê +W!+W˜nWW ¦¼žš¸É8SVLGHDQG'RZQVLGH5HYHUVDOV 8SVLGH 5HYHUVDO 'RZQVLGH 5HYHUVDO
  • 21. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- .H8SVLGH5HYHUVDO .5 ¨³.H'RZQVLGH5HYHUVDO .5 Áž}œ„¦–¸¡·Á«¬ °Š 8SVLGH ¨³ 'RZQVLGH 5HYHUVDOV Ž¹ÉŠ‹³Ä®o­´µ–¦Š„ªnµ „¨nµª‡º°Äœ„¦–¸ °Š .H 8SVLGH 5HYHUVDO œ°„‹µ„¦µ‡µ˜Îɵ­»—ª´œœ¸Ê‹³˜Îɵ„ªnµ¦µ‡µ˜Îɵ­»—Á¤ºÉ°ªµœœ¸Ê ˜n¦µ‡µžd—ª´œœ¸Ê­¼Š„ªnµÁ¤ºÉ°ªµœœ¸Ê —´ŠÄœ„¦–¸ °Š 8SVLGH5HYHUVDO¨oª¦µ‡µ­¼Š­»—ª´œœ¸Ê¥´Š­¼Š„ªnµ¦µ‡µ­¼Š­»—Á¤ºÉ°ªµœœ¸Ê°¸„—oª¥ /W/WW!W+W!+W ÁnœÁ—¸¥ª„´œÄœ„¦–¸ °Š.H'RZQVLGH5HYHUVDO‹³˜o°Š„µ¦ÁŠºÉ°œÅ Á¡·É¤ ¹Êœ°¸„°´œÁŠºÉ°œÅ ®œ¹ÉŠ‡º°¦µ‡µ˜Îɵ­»—ª´œœ¸Ê˜o°Š ˜Îɵ„ªnµ¦µ‡µ˜Îɵ­»—Á¤ºÉ°ªµœœ¸Ê +W!+WWW/W/W .H8SVLGH 5HYHUVDO .H'RZQVLG 5HYHUVDO ¦¼žš¸É.H8SVLGHDQG.H'RZQVLGH5HYHUVDOV œ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡µŠšnµœ°„ªnµ.5¨³.5‹³Ä®o­´µ–š¸É¤nœ¥Îµ™oµ®µ„nªŠª´œš¸ÉÁ„·—.5œ´Êœ¤¸ž¦·¤µ– „µ¦ŽºÊ° µ¥Âœnœ®œµÂ¨³­¼Š ¹Êœ°¥nµŠÁ®ÈœÅ—o´—˜nµŠšnµœ„ÈŤnÁ o¤Šª—„´„’ o°œ¸Êœ´„×¥ÁŒ¡µ³°¥nµŠ¥·ÉŠÁ¤ºÉ°Äo.5„´ Á‡¦ºÉ°Š¤º°šµŠÁš‡œ·‡°ºÉœÇ ORVHRQ+LJK 2+ ¨³ORVHRQ/RZ 2/ ORVH2Q+LJK‡º°„µ¦š¸É¦µ‡µžd—ª´œœ¸Ê°¥¼nÄ„¨o„´¦³—´¦µ‡µ­¼Š­»— °Šª´œ¤µ„„¨nµª‡º°nªŠ‹µ„¦µ‡µ­¼Š­»—¨Š¤µ®µ¦µ‡µ žd—ŤnÁ„·œÅž„ªnµ °ŠnªŠ¦µ‡µ­¼Š­»—¤µ®µ¦µ‡µ˜Îɵ­»— + +/ @¡¼—Šnµ¥Çªnµª´œœ¸Êžd—š¸ÉÄ„¨o¦µ‡µ­¼Šœ´Éœ Á°Š ORVH2Q/RZ„ÈÁ®¤º°œ„´œ„¨nµª‡º°Áž}œ„µ¦š¸É¦µ‡µžd—Äœª´œœ¸ÊÅ—ožd—˜´ª°¥¼nÄ„¨o¦µ‡µ˜Îɵ­»—„¨nµª‡º°nªŠ‹µ„¦µ‡µžd—¨Š ¤µ®µ¦µ‡µ˜Îɵ­»—ŤnÁ„·œÅž„ªnµ °ŠnªŠ¦µ‡µ­¼Š­»—¤µ®µ¦µ‡µ˜Îɵ­»— / +/ @ ‡ªµ¤­Îµ‡´ °Š2+¨³2/ ¹Êœ°¥¼n„´‡ªµ¤¥µª °ŠÂšnŠ„¨nµª‡º°™oµÂšnŠ¥·ÉŠ¥µª2+¨³2/„È‹³¤¸‡ªµ¤­Îµ‡´ ¤µ„ ¹Êœ°¥nµŠÅ¦„È—¸­´µ– °Š2+¨³2/‡n°œ oµŠ°n°œ°¥¼n¤µ„œ³‡¦´Â˜n™oµœÎµ¤µž¦³„°„´œ„´­´µ–°ºÉœÇ
  • 22. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- Ánœ55.5.5„ÈčoÁž}œ­´µ–¥ºœ¥´œ„µ¦Áž¨¸É¥œš·«šµŠ¦³¥³­´ÊœÅ—o‡¦´œ°„‹µ„œ¸Ê™oµÁ°µ2+„´2/­°Š ª´œ¤µ¦ª¤„´œ„È‹³Å—o­´µ–°¸„¦¼žÂ®œ¹ÉŠŽ¹ÉŠ‹³¡¼—Áž}œ®´ª o°˜n°Åž‡¦´ ¦¼žš¸ÉORVHRQ+LJKDQGORVHRQ/RZ +LJKWR/RZORVH6LJQDO +/ ¨³/RZWR+LJKORVH6LJQDO /+ +LJKWR/RZORVH6LJQDO‡º°„µ¦š¸Éª´œÂ¦„Á„·—ORVHRQ+LJK 2+ ¨³ª´œš¸É­°ŠÁ„·—ORVHRQ/RZ 2/ ˜µ¤¤µ š´œš¸­´µ–œ¸Ê­—Šªnµ˜¨µ—œnµ‹³¨Š %HDULVK ­nªœ/RZWR+LJKORVH6LJQDO„È„¨´„´œ‡º°ª´œÂ¦„Á„·—2/ ¨³ª´œš¸É­°Š„ÈÁ„·—2+š´œš¸Ž¹ÉŠ­´µ–„¦–¸®¨´ŠÂ­—Š™¹Š‡ªµ¤¡¥µ¥µ¤š¸É‹³„—¦µ‡µ¨ŠÄœª´œÂ¦„œ´ÊœÅ¤n­µ¤µ¦™šÎµ Å—o­ÎµÁ¦È‹Äœª´œš¸É­°Š œ°„‹µ„œ¸Ê¥´ŠÁ‹°Â¦ŠÄœš·«šµŠ˜¦Š„´œ oµ¤­ªœ¤µ°¸„˜nµŠ®µ„ „Èœnµ‹³Áž}œ­´µ– °Š„µ¦Áž¨¸É¥œ š·«šµŠœ°„‹µ„œ¸Ê+/¨³/+‹³Ä®o­´µ–š¸É¤nœ¥Îµ¤µ„ ¹Êœ™oµ®µ„„µ¦¢°¦r¤˜´ª °Š¤´œÁ„·—¤¸5®¦º°.5Á„·— ¹Êœ ¡¦o°¤Ç„´œ‡¦´ ¦¼žš¸É+LJKWR/RZORVH6LJQDODQG/RZWR+LJKORVH6LJQDO +LJKV + ¨³/RZV / °´œœ¸ÊÁž}œ¦¼žÂŠnµ¥Ç‡º°™oµ¦µ‡µžd—ª´œœ¸ÊÁž}œ¦µ‡µš¸É­¼Šš¸É­»—­Îµ®¦´¦µ‡µžd—Äœ¦°ª´œš¸ÉŸnµœ¤µ‹³Áž}œ+Ž¹ÉŠÁž}œ %XOOLVK6LJQDO˜n™oµ¦µ‡µžd—ª´œœ¸Ê˜Îɵ„ªnµ¦µ‡µžd—Äœ¦°ª´œš¸ÉŸnµœ¤µ‹³Áž}œ/Ž¹ÉŠÁž}œ%HDULVK6LJQDO°´œš¸É‹¦·Š +¨³/Á®¤µ³­Îµ®¦´œÎµ¤µÄo‡ª‡¼n„´„µ¦ª·Á‡¦µ³®rª´’‹´„¦ Ž¹ÉŠ‹³¡¼—™¹ŠÄœšš¸É ×¥ÁŒ¡µ³°¥nµŠ¥·ÉŠÁ¤ºÉ°Á„·— ­´µ–Ä„¨oÇ„´nªŠ °Š„µ¦Áž¨¸É¥œš·«šµŠ °Šª´’‹´„¦ + +/ / + +/ + +/ / / +/ ORVH RQ /RZ 2/ ORVH RQ +LJK 2+ +LJK WR /RZ ORVH 6LJQDO /RZ WR +LJK ORVH 6LJQDO +/ /+
  • 23. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- + / ¦¼žš¸É+LJKVDQG/RZV ÂœªÃœo¤ ®¨´Š‹µ„Á oµÄ‹ª·›¸„µ¦Á ¸¥œ„¦µ¢ÁºÊ°Š˜oœÂ¨oª ­·ÉŠš¸Éœnµ‹³¦¼o˜n°Åž „ȇº°Á¦ºÉ°Š °ŠÂœªÃœo¤ WUHQG š¸É¦µ‡µ®»oœ®¦º°—´œ¸‹³ Á‡¨ºÉ°œ˜´ªÅžŽ¹ÉŠž„˜·‹³¤¸¦¼žÂ‡º°XSWUHQGGRZQWUHQG¨³VLGHZDVªnµ¤´œ®¤µ¥‡ªµ¤ªnµ°¥nµŠÅ¦Â¨³—¼°¥nµŠÅ¦ „´œœ³ 8SWUHQG ‡º°ÂœªÃœo¤ ¹Êœ Ž¹ÉŠŸ¼o°nµœ°µ‹‹³‹·œ˜œµ„µ¦ÅžÄœ¦¼ž °Š ´Êœ´œÅ— µ ¹Êœ š¸Éš»„LJœ¡¦o°¤š¸É‹³„oµª„´œ ¹ÊœÅž ŞŮœ „ÈŞĜ¦³—´š¸É°¥¼n­¼Š„ªnµ˜°œœ¸ÊÅŠ ÄœÁ·Š °Š®»oœ „ÈÁž}œ„µ¦¸Ê™¹Š ¦µ‡µ®»oœ¤¸ÂœªÃœo¤­¼Š ¹Êœ Ž¹ÉŠ‹µ„„¦µ¢„È ­µ¤µ¦™Â­—ŠÅ—o—´Š¦¼žš¸ÉÄœšµŠÁš‡œ·‡Á µ°„ªnµ‹³Áž}œXSWUHQGœ´Êœ˜o°Š¤¸»‡¨·„ÁŒ¡µ³˜´ª—´Šœ¸Ê„¨nµª‡º°¥°—Ä®¤n ­¼Š„ªnµ¥°—Á—·¤„oœ¹ÊŠÄ®¤n­¼Š„ªnµ„oœ¹ÊŠÁ—·¤¢{ŠÂ¨oª°µ‹‹³Á¦·É¤Áª¸¥œ®´ª¨°Š¡·‹µ¦–µ‹µ„¦¼žš¸É°µ‹‹³nª¥Ä®o®µ¥¤¹œ ŞŗooµŠ ¥°—Ä®¤n ­¼Š„ªnµ¥°—Á—·¤ „oœ¹ÊŠÄ®¤n ­¼Š„ªnµ„oœ¹ÊŠÁ—·¤ ¦¼žš¸É8375(1' 'RZQWUHQG Áž}œ­·ÉŠš¸É˜¦Š„´œ oµ¤„´š¸É„¨nµª¤µ oµŠ˜oœ‡º°Áž}œ´œÅ— µ¨ŠÄœÁ·Š®»oœ„ÈÁž}œ„µ¦Â­—Š™¹Š¦µ‡µ ®»oœ¤¸ÂœªÃœo¤°n°œ˜´ª¨Š°¥¼n ¦¼žš¸É ÄœšµŠÁš‡œ·‡GRZQWUHQG¤¸»‡¨·„ÁŒ¡µ³˜´ª‡º°¥°—Ä®¤n°¥¼n˜Îɵ„ªnµ¥°—Á—·¤„oœ¹ÊŠ Ä®¤n°¥¼n˜Îɵ„ªnµ„oœ¹ÊŠÁ—·¤
  • 24. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ¦¼žš¸É'2:175(1' Á¡ºÉ°Ä®oÁ®Èœ£µ¡š¸ÉÁ—nœ´—¤µ„ ¹Êœ¨°Š¤µ—¼˜´ª°¥nµŠš¸É­·‡¦´‹³Á®ÈœÅ—oªnµ®¨´„„µ¦¤°ŠÂœªÃœo¤ ¹Êœ XSWUHQG „´ÂœªÃœo¤ µ¨Š GRZQWUHQG ­µ¤µ¦™œÎµ¤µÄoÅ—o°¥nµŠÅ¤n˜o°Š­Š­´¥ ˜´ª°¥nµŠš¸É 6LGHZDV Áž}œ„µ¦Á‡¨ºÉ°œ˜´ªÅž jµŠÇ Á¡ºÉ°¦°—¼š·«šµŠš¸ÉÂœn´— ¦¼žÂ °Š VLGHZDV „Ȥ¸¨´„¬–³‡¨oµ¥¢{œ ž¨µ ¦¼žš¸É ×¥š¸É„µ¦ ¥´˜´ª °Š¤´œœ´Êœ­´ŠÁ„˜Å—o‹µ„„µ¦š¸É¥°—Ä®¤n„È¥´ŠÅ¤n„¨oµÁ„·œ®œoµÁ„·œ˜µ®¦º°¥´ŠÅ¤nÁ¨¥¦¦—µ ¥°—Á¡ºÉ°œÇš¸ÉÁ¡·ÉŠ‹³Ÿnµœ¤µ ˜n °Á¡¸¥ŠÂ‡n°¥¼nÄœ¦³—´Á—¸¥ª„´œ„È¡° ÁnœÁ—¸¥ª„´œ Áª¨µ µ¨Š Á¦ºÉ°Š°³Å¦š¸É‹³¨ŠÅž˜Îɵ„ªnµ ¦¦—µ„oœ¹ÊŠ oµŠÁ‡¸¥Šš¸ÉŸnµœ¤µ‹¹Š °Â‡n¤µªµŠ˜´ªÁšnµ„´œ®¦º°Ä„¨oÁ‡¸¥Š„´œ„È¡° ¥°—Ä®¤n ˜Îɵ„ªnµ¥°—Á—·¤ „oœ¹ÊŠÄ®¤n ˜Îɵ„ªnµ„oœ¹ÊŠÁ—·¤
  • 25. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ¦¼žš¸É6LGHZDV ˜´ª°¥nµŠš¸É ÁnœÁ—¸¥ª„´œ‡¦´ ˜´ª°¥nµŠ„µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µ®»oœ Á‡¨ºÉ°œ˜´ªÅž jµŠÇ VLGHZDV Á¦µ„Ȥ¸˜´ª°¥nµŠÄ®o—¼ —oª¥Ánœ„´œŽ¹ÉŠÄœ˜´ª°¥nµŠš¸ÉŸ¼o°nµœ‡Š‹³Á®ÈœÅ—oªnµ ¦¼žÂÃ—¥¦ª¤œ´ÊœÁž}œ VLGHZDV ˜n„È°µ‹‹³¤¸µŠšnµœš¸ÉÁ®Èœªnµ ¥°—š¸É¨³Å¤nÁ®Èœ‹³Ášnµ„´¥°—š¸É®µ„˜n¨°Š¤°Š¤µšµŠ ªµ¤º°Á¨È„œo°¥®¨´Š‹µ„¥°—š¸É„È‹³¡ªnµ„µ¦Á‡¨ºÉ°œ Å®ª °Š¦µ‡µœ´Êœ¥´Š‡Š°¥¼nÄ„¨oÁ‡¸¥ŠÂœª °Š¥°—š¸É°¥¼n—´Šœ´ÊœÄœÂŠnž‘·´˜·œ´Êœ°µ‹‹³Å¤nčnÁ¦ºÉ°ŠŠnµ¥œ´„š¸É„µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µ ‹³¤¸„µ¦Ášnµ„´œ¡°—·¡°—¸˜¦Š„´®¨´„„µ¦ ˜n®µ„£µ¡Ã—¥¦ª¤¥´Š‡Š¦´„¬µÂœª—´Š„¨nµªÅªoÅ—o „ÈÁšnµ„´ªnµ Á¦µ ­µ¤µ¦™œÎµ®¨´„š¸É„¨nµª¤µ oµŠ˜oœ¤µž¦³¥»„˜rčoÅ—o ¥°—Ä®¤n Ášnµ„´®¦º°Ä„¨oÁ‡¸¥Š„´¥°—Á—·¤ ¨³ „oœ¹ÊŠÄ®¤n Ášnµ„´®¦º°Ä„¨oÁ‡¸¥Š„´„oœ¹ÊŠÁ—·¤ ¨³
  • 26. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- Á­oœÂœªÃœo¤ °¥nµŠÅ¦„Șµ¤„µ¦¨Š¤º°šÎµ„µ¦ª·Á‡¦µ³®rœ´Êœ„µ¦š¦µÁ¡¸¥ŠÂ‡n¦¼žÂ oµŠ˜oœœ´Êœ°µ‹‹³¥´ŠÅ¤nÁ¡¸¥Š¡°—oª¥Á®˜»š¸ÉªnµµŠ ‡¦´ÊŠÁ¦µ‹ÎµÁž}œ˜o°Š„ε®œ—‹»—ŽºÊ° ‹»— µ¥ ¹Êœ¤µ Á¦µ‹³¦¼oÅ—o°¥nµŠÅ¦ªnµ ŽºÊ°Á¤ºÉ°Å¦ –³š¸ÉÂœªÃœo¤Áž}œ XSWUHQG ‡Îµ˜°š¸É ®¨µ¥‡œ‡Š‹³˜°„´œ „ȇŠÁž}œªnµ ŽºÊ°˜°œž¦´˜´ª¨Š­· Ÿ¤„ȇŠ‹³™µ¤˜n°Åžªiµ ž¦´˜´ª¨Š œµ—Å®œš¸É‹³¥°¤¦´Å—oÄœÁ·Š XSWUHQGœ´Éœœ³­·®¨´„®¦º°ª·›¸„µ¦š¸É‹³Â„ož{®µ—´Š„¨nµª„ȇº°„µ¦ÄoÁ­oœÂœªÃœo¤ WUHQGOLQH Ž¹ÉŠ‹³Áž}œÁ‡¦ºÉ°Š¤º°š¸É¤¸‡»– ‡nµ­Îµ®¦´„µ¦ª·Á‡¦µ³®r˜µ¤ÂœªÃœo¤ ‹µ„ oµŠ˜oœš¸ÉÁ¦µÅ—oÂ¥„ÂœªÃœo¤°°„Áž}œ  —´Šœ´ÊœÁ­oœÂœªÃœo¤š¸É‹³Äo‹¹Š¤¸ ¨´„¬–³˜µ¤Åž—jª¥‡º° 3DUDOOHO /LQH 8SWUHQG /LQH ¦¼žš¸É8SWUHQG/LQH 8SWUHQGOLQH®¨´„„µ¦„ÈŤnÅ—o¥»nŠ¥µ„°³Å¦®¦°„‡¦´Á¡ºÉ°Ä®o­³—ª„Äœ„µ¦°›·µ¥Ä®o—¼‹µ„¦¼žš¸ÉÁ¨¥—¸„ªnµ „¨nµª‡º°Á¦·É¤Â¦„œ´Êœ Á¦µ‹³¨µ„Á­oœ‹µ„‹»—š¸É Åž‹»—š¸É ×¥ž¨i°¥Ä®o­nªœž¨µ¥ °ŠÁ­oœÁ¨¥‹»—š¸É Åž Á—¸Ì¥ª‹³°„ªnµ šÎµÅ¤ Á­oœœ¸Ê®¨³š¸ÉÁž}œXSWUHQGOLQH­Îµ®¦´„µ¦š¸É‹³¤¸œ´¥­Îµ‡´ °ŠÁ­oœœ¸Ê®¦º°ªnµ„´œŠnµ¥Ç‡º°®œ´ŠÁ®œ¸¥ª¡°‡ª¦®¦º°Å¤n œ´Êœ‹³Á¦·É¤ª´—„´œš¸É®¤µ¥Á¨ Ž¹ÉŠ™oµ¦µ‡µ­µ¤µ¦™—¸—˜´ª ¹ÊœÅ—oš¸É®¤µ¥Á¨ œ´ÉœÂ®¨³‹³Áž}œ­·ÉŠš¸É¸Ê™¹Š„µ¦¤¸œ´¥­Îµ‡´ °Š XSWUHQG OLQH —´Šœ´Êœ ™oµ®µ„¦µ‡µ¤¸„µ¦ž¦´˜´ª¨Š¤µÄ„¨oÁ­oœœ¸Ê°¸„‡¦´ÊŠ „È‹³Äo¦³—´š¸É‡µ—„µ¦–rœÁ­oœœ¸Ê Áž}œ‹»—š¸ÉčoÄœ „µ¦Á oµo°œ¦´®»oœ°¸„Ánœ®¤µ¥Á¨ 'RZQWUHQG OLQH ®¨´„„µ¦‹³„¨´„´ oµŠ˜oœ ĜŠnš¸Éªnµ „µ¦¨µ„Á­oœ‹³Äo¥°—Á„nµ„´¥°—Ä®¤nÁž}œ‹»—Äœ„µ¦ ¨µ„Á­oœ—¼¦¼žš¸É—¸„ªnµ‡º°Á¦·É¤¨µ„‹µ„‹»—Åž‹»—š¸É ™oµ­´ŠÁ„˜‹³¡ªnµ‹»—¨³Äœš¸Éœ¸Ê‹³Áž}œ‹»—¥°—Ž¹ÉŠ˜nµŠ ‹µ„Äœ„¦–¸ °Š XSWUHQG Äœ¦¼žš¸É Ž¹ÉŠ‹³Áž}œ‹»—„oœ¹ÊŠ œ´ÉœÂ®¨³Áž}œ o°Â˜„˜nµŠÄœ„µ¦­¦oµŠ WUHQG OLQH ĜŠn °Š XSWUHQG¨³GRZQWUHQG„µ¦ª´—œ´¥­Îµ‡´‹³—¼„´œš¸É®¤µ¥Á¨ Ž¹ÉŠ™oµ¦µ‡µ®»oœÅ¤n­µ¤µ¦™ oµ¤Á­oœGRZQWUHQGOLQH ¹Êœ Şŗo¨³¤¸„µ¦ž¦´˜´ª¨Š˜µ¤¤µÁ¦µ‹³Á¦¸¥„GRZQWUHQGOLQHÁ­oœœ¸Êªnµ¤¸œ´¥­Îµ‡´—´Šœ´Êœ™oµ®µ„ªnµ¦µ‡µ ¹Êœ¤µš—­° Á­oœœ¸Ê°¸„‡¦´ÊŠ–‹»—š¸É„ÈÁž}œ¦³—´š¸É‡µ—ªnµ‹³¤¸Â¦ŠÁš µ¥°°„¤µŽ¹ÉŠ™oµ®µ„ªnµ‹»—š¸É¥´ŠÅ¤n­µ¤µ¦™š³¨»GRZQWUHQGOLQH Å—o„È‹³¥·ÉŠÁ¡·É¤‡ªµ¤Â Ȋ„¦nŠÄ®o„´Á­oœGRZQWUHQG¤µ„¥·ÉŠ ¹ÊœÅž°¸„
  • 27. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- 'RZQWUHQG /LQH 3DUDOOHO /LQH ¦¼žš¸É'RZQWUHQG/LQH œ°„Á®œº°‹µ„WUHQGOLQHš¸É„¨nµª oµŠ˜oœ¤¸®¨µ¥‡¦´ÊŠš¸É‹ÎµÁž}œ˜o°Š­¦oµŠÁ­oœ‡¼n œµœ SDUDOOHOOLQH ¹Êœ¤µ—oª¥Á®˜»Ÿ¨š¸Éªnµ¤¸ ®¨µ¥„¦–¸š¸É¦µ‡µ¤¸„µ¦Á‡¨ºÉ°œÅ®ª°¥¼nÄœ„¦° °ŠÁ­oœ‡¼n œµœ°¥nµŠÁ®ÈœÅ—o´— —¼¦¼žš¸É ‹¹ŠšÎµÄ®oÁ„·—«´¡šršµŠÁš‡œ·‡ ¹Êœ¤µ°¸„‡Îµ‡º° FKDQQHO Äœš¸Éœ¸Ê‹³Á¦¸¥„ªnµ šn°„µ¦Å®¨˜´ª Ťn¦¼oªnµ‹³šÎµÄ®oÁ®Èœ£µ¡´— ¹Êœ®¦º°Áž¨iµ ®¨´„„µ¦¨µ„Á­oœ‡¼n œµœ„ÈŤn¥»nŠ¥µ„Á¨¥‹µ„¦¼žš¸É„Èčo‹»—š¸ÉÁž}œ‹»—Á¦·É¤Â¨oª¨µ„Á­oœ œµœ„´XSWUHQGOLQHÁnœÁ—¸¥ª„´¦¼žš¸É š¸Éčo‹»—š¸ÉÁž}œ‹»—Á¦·É¤¨µ„Á­oœ œµœ„´GRZQWUHQGOLQHŽ¹ÉŠÁ­oœ—´Š„¨nµª‹³šÎµ®œoµš¸ÉÁž}œÂœª˜oµœÄœ¦¼žš¸É¨³‹³šÎµ ®œoµš¸ÉÁž}œÂœª¦´­Îµ®¦´¦¼žš¸É 6LGHZDV‡º°„µ¦Á‡¨ºÉ°œÅ®ª°¥nµŠÅ¤n¤¸š·«šµŠ‡º°Å¤n ¹Êœ°¥nµŠÁ—nœ´—¨³„ÈŤn¨Š°¥nµŠÁ—nœ´——´Šœ´ÊœWUHQGOLQH Äœ„¦–¸ °ŠVLGHZDV‹³‡n°œ oµŠÁ¦¸¥¦µ œµœÅž„´¡ºÊœ IODW ¨³FKDQQHOÄœ„¦–¸ °ŠVLGHZDV„È‹³Áž}œÁ®¤º°œ šn°š¸ÉªµŠ œµœ„´¡ºÊœ¢{ŠÂ¨oªŠŠ—¼‹µ„¦¼žš¸Éœnµš¸É‹³®µ¥¤¹œ¨ŠÅžÅ—o®œn°¥œ¹ŠÁ¡¦µ³‹³Á®ÈœÅ—oªnµ„µ¦Å®¨˜´ª °Š¦µ‡µ ®¦º°—´œ¸„ȨoªÂ˜n ‹³°¥¼n£µ¥Ä˜ošn°„µ¦Å®¨˜´ªš¸ÉªµŠ˜´ªÄœÂœªœ°œ Ž¹ÉŠ„µ¦Á‡¨ºÉ°œÅ®ª °Š¦µ‡µ˜µ¤šn°„µ¦Å®¨˜´ªÅž jµŠÇ ˜µ¤Âœªœ°œœ¸Ê®¨³Áž}œš¸É¤µ °ŠºÉ°VLGHZDV 1 2 3 4 5 6 ¦¼žš¸É6LGHZDKDQQHO ˜´ª°¥nµŠš¸É ¨³ Áž}œÁ­¤º°œ£µ¡œ·ÉŠÄœnªŠÁª¨µ®œ¹ÉŠÇ ×¥˜´ª°¥nµŠš¸É œ´ÊœÁ„·— ¹Êœ„n°œ ¨³‹³Á®ÈœÅ—oªnµ ®¨´„ Á„–”rÄœ„µ¦¨µ„Á­oœÂœªÃœo¤ µ ¹Êœ XSWUHQG ¨³Á­oœ‡¼n œµœ µ ¹Êœ SDUDOOHOOLQH Å—o™¼„œÎµ¤µž¦³¥»„˜rčo¨³–nªŠ Áª¨µ °Š˜´ª°¥nµŠš¸Éœ´Êœ¦µ‡µ®»oœ„ε¨´Š ¥´˜´ª ¹Êœ°¥¼n¨³¤¸ÂœªÃœo¤š¸É°¥µ„‹³š—­°Âœª °ŠÁ­oœ‡¼n œµœœ¸ÊÁ®¨º°Á„·œ ¨oªÁž}œÅŠ¨n³Á¤ºÉ°¤µ™¹Š‹»—š¸É °Š˜´ª°¥nµŠš¸ÉŽ¹ÉŠÁž}œ–nªŠÁª¨µš¸É™´—¤µ‹µ„˜´ª°¥nµŠš¸É­´ŠÁ„˜Å—o‹µ„š¸É„œœ°œ °Š„¦µ¢˜°œœ¸Ê¤¸™¹ŠÁ—º°œ›´œªµ‡¤ Äœ –³š¸É˜´ª°¥nµŠš¸É­·Êœ­»—Á¡¸¥ŠÂ‡nÁ—º°œ„´œ¥µ¥œ ¦µ‡µ®»oœ„ÈÅ—o¤¸„µ¦ž¦´˜´ª¨Š
  • 28. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- —´Šœ´ÊœŸ¼o¨Šš»œµŠšnµœ ‹¹ŠÄoÁ­oœ‡¼n œµœÁž}œ‹»—šÎµ„εŦ¦³¥³­´Êœ ®¦º°‹»— µ¥®»oœ°°„ Á¡ºÉ°š—­°„ε¨´Š °Š®»oœ „ȨoªÂ˜n Á¡ºÉ°—¼ªnµ®»oœ˜´ªœ¸Ê‹³¤¸Â¦Š¡°š¸É‹³ oµ¤ÂœªÁ­oœ‡¼n œµœœ¸Ê ¹ÊœÅžÅ—o®¦º°Å¤nŽ¹ÉŠ˜´ª°¥nµŠš¸Éœ¸Ê„ε¨´Š °Š®»oœÅ¤n¡°š¸É‹³ oµ¤Á­oœ ‡¼n œµœ—´Š„¨nµª‹¹ŠšÎµÄ®o¤¸Â¦Š µ¥®¦º°¦³µ¥®»oœ°°„¤µ°¥nµŠÅ¦„Șµ¤°¥µ„ µ„Á˜º°œÁ°µÅªoªnµÄœµŠ‡¦´ÊŠœ´Êœ¦µ‡µ®»oœ °µ‹‹³¤¸„ε¨´Š¤µ„¡°š¸É‹³ oµ¤Âœª °ŠÁ­oœ‡¼n œµœ ¹ÊœÅž ‹¹ŠšÎµÄ®o¡ª„š¸ÉÁ¡·ÉŠ¨°ŠšÎµ„εŦ¦³¥³­´Êœ °µ‹‹³˜o°Š„¨´Á oµ¤µ Áž}œŸ¼oŽºÊ° Ž¹ÉŠÁž}œÅž˜µ¤®¨´„Á„–”r °ŠÂœª˜oµœ„¨µ¥Áž}œÂœª¦´ š¸É‹³Å—o„¨nµªÁ¡·É¤Á˜·¤˜n°ÅžÄœ­nªœ °ŠÁ¦ºÉ°ŠÂœª¦´Âœª ˜oµœ ˜´ª°¥nµŠš¸É ˜´ª°¥nµŠš¸É
  • 29. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ˜´ª°¥nµŠš¸É ˜´ª°¥nµŠš¸É Äœ˜´ª°¥nµŠš¸É¨³œ´Êœ„ÈÁž}œ„¦–¸š¸É„¨´„´œ„´˜´ª°¥nµŠš¸É¨³ °Š¤´œÂœn°¥¼n¨oªÄnÅ®¤‡¦´„ȚεŤ‹³Å¤n čn¨³‡¦´ ÄœÁ¤ºÉ°˜´ª°¥nµŠš¸É ¨³ œ´ÊœÁž}œ„¦–¸ °Š µ¨Š GRZQWUHQG ˜n˜´ª°¥nµŠš¸É ¨³ Áž}œ µ ¹Êœ XSWUHQG ˜n®¨´„Á„–”rÄœ­nªœ °ŠÂœªÃœo¤ µ¨Š¦ª¤™¹ŠÁ­oœ‡¼n œµœœ´Êœ¥´Š‡ŠÄoÅ—oŤn¤¸ž{®µÂ˜n™oµµŠšnµœ¥´Š­Š­´¥ªnµ Á­oœÁ®¨nµœ¸Ê¤µ‹µ„Å®œ¨°Š¡¨·„„¨´Åž—¼Äœ­nªœ °Š„µ¦­¦oµŠÁ­oœÂœªÃœo¤Â¨³Á­oœ‡¼n œµœ°¸„š¸®¦º°®¨µ¥Çš¸„ÈÅ—o‡¦´Á¡ºÉ° ‡ªµ¤ÎµœµÂ¨³Â¤nœ¥ÎµÄœª·›¸„µ¦
  • 30. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ˜´ª°¥nµŠš¸É ­Îµ®¦´˜´ª°¥nµŠš¸É‹³Áž}œ˜´ª°¥nµŠ °ŠVLGHZDVFKDQQHOŽ¹ÉŠ‹³Á®ÈœÅ—oªnµ¦µ‡µ®»oœœ´Êœ¤¸„µ¦Å®¨Áª¸¥œ®¦º°Â„ªnŠ˜´ª°¥¼n Äœ °‹Îµ„´—„µ¦Â„ªnŠ˜´ª µ ¹Êœ XSSHUERXQGDU ¨³ °‹Îµ„´— °Š„µ¦Â„ªnŠ˜´ª¨Š ORZHUERXQGDU ‡ªµ¤´œÂ¨³„µ¦—¸—˜´ª 6ORSHDQG5HWUDFHPHQW °¥nµÁ¡·ÉŠÁ®œºÉ°¥Á­¸¥„n°œœ³‡¦´ Á¡¦µ³œ¸ÉÁž}œÁ¡¸¥Š‹»—Á¦·É¤˜oœ °Š®œšµŠÄœ„µ¦®µ‹´Š®ª³Á oµ°°„‹µ„®»oœ Ž¹ÉŠÁž}œ­·ÉŠš¸ÉŸ¼o°nµœ ˜o°Š„µ¦°¥µ„‹³š¦µÂ˜n˜oœÅ¤nčn®¦º°‡¦´ Á°µ¨n³Â¤oªnµÁ¦µ‹³¦¼o™¹ŠÂœªÃœo¤Â¨³„µ¦Áž¨¸É¥œÂœªÃœo¤˜¨°—‹œ­´µ–ŽºÊ° µ¥ÁºÊ°Š˜oœÂ¨oªÂ˜n„µ¦Á™¦˜¦ŠÁ„·œÅž„È°µ‹ ‹³Å¤n‡n°¥—¸ÁšnµÅ¦„µ¦¡¨·„¡¨Šœ´ÊœÁž}œ­·ÉŠ‹ÎµÁž}œÂ¨³¤¸ž¦³Ã¥œr¤µ„­Îµ®¦´„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡Á®˜»š¸É„¨nµªÁnœœ¸Ê„È Á¡ºÉ°š¸É‹³Ã¥ŠÅž­¼n„µ¦ž¦´‡ªµ¤¨µ—Á°¸¥Š®¦º°£µ¬µ ¦´ÉŠš¸ÉÁ¦¸¥„„´œªnµVORSH]] °ŠWUHQGOLQH ¦¼žš¸ÉD ¦¼žš¸ÉE 5HWUDFHPHQWV
  • 31. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ‹µ„¦¼žš¸ÉD‹³Á®ÈœÅ—oªnµWUHQG¤¸Å—o®¨µ¥Á­oœÂ¨³¤¸„µ¦ž¦´WUHQGÅžÁž}œ¤»¤˜nµŠÇŤnčnªnµWUHQG‹³¤¸°¥¼nÁ¡¸¥ŠÁ­oœ Á—¸¥ª‹³¨µ„°¥nµŠ°ºÉœÅ¤nÅ—o ¨oª„Èčo„´œÁ­oœÁ—¸¥ª˜³¡¹—˜³¡º° ­nªœ®¨´„Á„–šrÄœ„µ¦¨µ„Á­oœœ´Êœ°µ‹‹³¤¸®¨µ„®¨µ¥ª·›¸ ˜nš¸Éœ·¥¤Áž}œ­nªœÄ®n‡ª¦š¸É‹³Á oµÄ‹„’ °Š„µ¦ž¦´˜´ª®¦º°š¸ÉÁ¦¸¥„ªnµUHWUDFHPHQW Á°µ®¨´„š¸É­Îµ‡´Åªo¨oª„´œœ³ ‹µ„¦¼žš¸É E Á µ°„ªnµÁ¤ºÉ°¦µ‡µÅ—o ¹Êœ¤µ™¹Š¦³—´®œ¹ÉŠ ­¤¤˜·ªnµ µš ¨oª„Ȥ¸„µ¦ž¦´˜´ª¨Š ¦³—´š¸É¦µ‡µ‹³¤¸ ð„µ­—¸—˜´ª„¨´Åž®µÂœªÃœo¤Á—·¤œnµ‹³Á„·—š¸É¦·Áª–®¦º°Ã—¥ž¦³¤µ–„¨nµª‡º°™oµ¦µ‡µž¦´˜´ª¨Š ®¨´Š‹µ„š¸É ¹Êœ¤µÅ—oµš„Èœnµ‹³—¸—˜´ª„¨´ ¹Êœ¤µÅ—o®¨´Š‹µ„š¸É¨ŠÅžµš ˜n™oµ¨Š¤µµšÂ¨oª¥´Š‡Š ¨Š˜n°Åž°¸„Âœª¦´˜n°Åž„ȇŠ‹³¨ŠÅžÅ—o™¹Šµš „Èœnµ‹³—¸—˜´ª ˜nœ´„ª·Á‡¦µ³®ršµŠÁš‡œ·‡µŠ‡œÅ¤n‡n°¥Ä®o ‡ªµ¤­Îµ‡´„´¦³—´¤µ„Ášnµ„´¦³—´Â¨³ ˜n™oµµšÂ¨oª¥´ŠÁ°µÅ¤n°¥¼n°¸„¥´ŠÅŠ„ÈŤnœnµ‹³Á„·œ µš Á¡¦µ³™oµÁ„·œœ¸ÊŞð„µ­š¸ÉÂœªÃœo¤‹³Áž¨¸É¥œ ‹µ„ÂœªÃœo¤ ¹ÊœÁž}œÂœªÃœo¤¨Š „Ȥ¸­¼Š¤µ„¨oª‡¦´Á˜¦¸¥¤˜´ª Á˜¦¸¥¤Ä‹­Îµ®¦´„µ¦Áž¨¸É¥œÂœªÃœo¤ÅªoÅ—oÁ¨¥ ®¦º° ®¦º° ¦¼žš¸É6SHHG/LQHV „’°´œœ¸Ê™¼„œÎµÅžž¦³¥»„˜rčoÄœ„µ¦­¦oµŠVSHHGOLQH ¦¼žš¸É Ž¹ÉŠ„ÈÁž}œWUHQGOLQH®œ¹ÉŠœ´ÉœÁ°ŠÁ¡¸¥ŠÂ˜nªnµÁ µ¤¸„’ Äœ„µ¦¨µ„—´Šœ¸Ê‡º°Á µ‹³ÂnŠ‡ªµ¤­¼Š°°„Áž}œ­nªœ‹µ„‹»—š¸É¦µ‡µ –³œ¸ÊÁ‡¨ºÉ°œ˜´ª°¥¼n „´“µœ Ž¹ÉŠ“µœœ´Êœ„ÈÁž}œ ¦³—´š¸É‹»—Á¦·É¤˜oœªµŠ˜´ª°¥¼n —´Šœ´Êœ‹³¤¸Á­oœWUHQGÁ„·— ¹ÊœÁ­oœ‹¦·ŠÅ®¤‡¦´Á­oœ®œ¹ÉŠÂ­—Š¦³—´°¸„Á­oœ®œ¹ÉŠÂ­—Š ¦³—´œ¸É„ÈÁž}œ˜´ª°¥nµŠ®œ¹ÉŠ °Š„µ¦ž¦´Ä®oÁ„·—‡ªµ¤Á®¤µ³­¤Äœ„µ¦ÄoWUHQGOLQH ˜´ª°¥nµŠ‹¦·ŠÇ °Š„µ¦ž¦´Á­oœÂœªÃœo¤„Ȥ¸Ä®oÁ®Èœœ³‡¦´‹µ„˜´ª°¥nµŠš¸ÉÁ®ÈœÅ—oªnµÁ­oœÂœªÃœo¤š¸É¨µ„œ´Êœ˜nµŠ¤¸‡ªµ¤ ´œ VORSH š¸É¨—®¨´Éœ„´œÅž˜µ¤Â˜n­™µœ„µ¦–r˜n­·ÉŠ®œ¹ÉŠš¸ÉÁ¨ÈŠÁ®ÈœÅ—o‹µ„˜´ª°¥nµŠ„ȇº°š»„‡¦´ÊŠÁ¤ºÉ°¦µ‡µ®»oœÅ—o¤¸„µ¦°n°œ ˜´ª¨Š¤µœÁ­oœÂœª¦´‹µ„WUHQGOLQH°¥nµŠœo°¥¤´œ„Ȥ¸„µ¦—¸—˜´ª ¹Êœ®¦º°š¸ÉÁ¦¸¥„„´œªnµUHERXQGÄ®oÁ®ÈœŽ¹ÉŠµŠ‡œ°µ‹‹³ čoÁž}œnªŠ‹´Š®ª³Äœ„µ¦°°„˜´ª‹µ„˜¨µ— ×¥„µ¦¦³µ¥®»oœ˜°œš¸É¤¸„µ¦—¸—˜´ª ¹Êœ Ž¹ÉŠ‹³Á®¤µ³„´„¦–¸š¸ÉÂœªÃœo¤Áž}œ GRZQWUHQG˜n™oµ®µ„ÂœªÃœo¤Áž}œXSWUHQG®¦º°„ε¨´Š‹³Áž¨¸É¥œ‹µ„GRZQWUHQGÁž}œXSWUHQG榚¸É°°„‹µ„˜¨µ—„È °µ‹‹³‹q°¥Å—oÁ¡¦µ³Á¤ºÉ° µ¥ÅžÂ¨oª®µ„¦µ‡µ®»oœÁž}œXSWUHQG‡œš¸ÉÁ¡·ÉŠ µ¥Åž„Ȥ´„‹³¦o°Šªnµ—¼­·™º°¤µ˜´ÊŠœµœ¡° µ¥ Åž¦µ‡µ—´œª·ÉŠ ¹ÊœÅž­¼Š„ªnµš¸É µ¥—´Šœ´ÊœÄœ„µ¦ µ¥‡ª¦¡·‹µ¦–µÄ®o™¼„‹´Š®ª³œ³‡¦´
  • 32. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- ˜´ª°¥nµŠš¸É nªŠÁª¨µ „µ¦¡¼—‡»¥„´œ °Šœ´„¨Šš»œµŠ‡¦´ÊŠ °µ‹‹³˜o°Š„¨´„¨µ¥Áž}œ„µ¦œ´ÉŠš³Á¨µ³ÄœÁ¦ºÉ°Šš¸ÉŤnÁž}œÁ¦ºÉ°Š°¥¼nÅ—oÁž}œœµœ­°Šœµœ Á¨¥ Á¡¦µ³„µ¦¤°Š XSWUHQG GRZQWUHQG ¨³ VLGHZDV ®¨µ¥˜n°®¨µ¥‡¦´ÊŠ Å—o¨º¤Á¦ºÉ°ŠnªŠÁª¨µ„´œÅž nªŠÁª¨µš¸É ¡·‹µ¦–µÅ¤nÁšnµ„´œ ˜´ª°¥nµŠÁnœœ´„¨Šš»œ‡œÂ¦„°µ‹‹³¤°ŠªnµÂœªÃœo¤ °Š®»oœ¥´Š‡ŠÅªoŽ¹ÉŠXSWUHQG°¥¼n˜n‡œš¸É°µ‹‹³ ¤°Šªnµ¤´œ‹³Áž}œ XSWUHQG Å—oÅŠ š´ÊŠÇš¸ÉÄœnªŠš¸ÉŸnµœ¤µ¦µ‡µÅ—ož¦´˜´ª¨Š¤µ Ž¹ÉŠ‹¦·ŠÇ¨oª‡Îµ¡¼— °Šœ´„¨Šš»œ‡œÂ¦„Á µ„È ™¼„ –³š¸É‡Îµ¡¼— °Š‡œš¸É„ÈŤnÅ—oŸ·—°³Å¦—´Šœ´Êœ¤´œÁž}œÁ¡¦µ³Á®˜»Ä—„´œÁ¨nµ„ÈÁž}œÁ¡¦µ³œ´„¨Šš»œ‡œÂ¦„Á µ¤°ŠÂœª Ãœo¤ œµ—¦³¥³Áª¨µžeÄœ –³š¸É‡œš¸É¤°ŠÁ¡¸¥ŠÂ‡n­´ž—µ®rš¸ÉŸnµœ¤µÁšnµœ´ÊœÁ°Š —´Šœ´Êœ ‹¹Š‡Š˜o°Š¤µœ´ÉŠ ‡·—„´œªnµ ¦³¥³­´Êœ ¦³¥³žµœ„¨µŠ ¨³¦³¥³¥µª ¤´œ‡ª¦‹³¤¸¦³¥³Áª¨µ­´„ÁšnµÄ— „¨nµª‡º°Äœ ­µ¥˜µµŠ‡œ°µ‹‹³¤°ŠªnµLQWHUPHGLDWHWHUP°µ‹‹³Áž}œ‡¦¹ÉŠže –³š¸É°¸„‡œ¤°ŠªnµÁž}œ¦³¥³Áª¨µÁ¡¸¥ŠÂ‡nÁ—º°œ ×¥®¨´„„µ¦ÁºÊ°Š˜oœÄœš¸Éœ¸Ê‹³ÂnŠ¦³¥³Áª¨µ°°„Áž}œnªŠ ®¨´„„µ¦ °ŠŸ¼oÁ ¸¥œÅ¤n‹ÎµÁž}œ˜o°Š˜¦Š„´‡ªµ¤Á®Èœ °ŠŸ¼o°ºÉœ ˜n×¥ž¦³­„µ¦–rÁž}œ­·ÉŠš¸ÉœÎµÅžÄoÅ—oŠnµ¥Â¨³‡¨n°Š˜´ª Ÿ¼oÁ ¸¥œ‹¹ŠÁ®Èœªnµ¤¸‡ªµ¤‡¨n°Š˜´ªš¸ÉŸ¼o°nµœ‹³œÎµÅžÄoÅ—o°¥nµŠ¦ª— Á¦ÈªnªŠÁª¨µœ´Êœ‡º° ORQJWHUP‹³„·œÁª¨µže®¦º°ª´œšÎµ„µ¦Ã—¥ž¦³¤µ– LQWHUPHGLDWHWHUP‹³„·œÁª¨µÁ—º°œÃ—¥ž¦³¤µ– VKRUWWHUPÁª¨µœnµ‹³‡¨»¤ÄœnªŠ­´ž—µ®r™¹ŠÁ—º°œÃ—¥ž¦³¤µ–
  • 33. ‡¼n¤º°„µ¦ª·Á‡¦µ³®ršµŠÁš‡œ·‡ ®¨´„„µ¦ÁºÊ°Š˜oœÁ„¸É¥ª„´„µ¦­¦oµŠ„¦µ¢ -- „µ¦¡¼—‡»¥„´œœ°„Á®œº°‹µ„nªŠÁª¨µ oµŠ˜oœ°µ‹‹³˜o°Š°„¦³¥³Áª¨µ„ε„´ÅªoÁnœ‡¦¹ÉŠžeš¸ÉŸnµœ¤µ„µ¦Á‡¨ºÉ°œÅ®ªÁž}œ XSWUHQGÁž}œ˜oœ Âœª¦´Â¨³Âœª˜oµœ 6XSSRUWDQG5HVLVWDQFH ®¨´Š‹µ„š¸É¡·‹µ¦–µ¦¼žÂ„µ¦Á‡¨ºÉ°œÅ®ªÂ¨³nªŠÁª¨µÂ¨oª­·ÉŠš¸ÉŸ¼o°nµœ‡Š°¥µ„‹³š¦µ˜n°Åž œnµ‹³Áž}œÁ¦ºÉ°Š °ŠÂœª¦´ VXSSRUW Âœª˜oµœ UHVLVWDQFH Ž¹ÉŠ­¦oµŠ‡ªµ¤­´­œÄ®oœ´„¨Šš»œÄ®¤n®¨µ¥šnµœ‹µ„š¸ÉÁ‡¥¡¼—‡»¥„´œ¤µŽ¹ÉŠ®¨´„„µ¦ °ŠŸ¼o Á ¸¥œ„Ȥ¸°¥nµŠŠnµ¥Çš¸É‹³nª¥Äœ„µ¦‹—‹ÎµÁ¡ºÉ°œÎµÅžÄoÄœšµŠž‘·´˜·®¨´„š¸Éªnµ„ȇº° Âœª¦´¦´ÅªoŤnÄ®o˜„Âœª˜oµœ˜oµœÅªoŤnÄ®o ¹Êœ ˜oµœ„¨µ¥Áž}œ¦´¦´„¨µ¥Áž}œ˜oµœ ¢{Š—¼Á®¤º°œÁ‡¨È—ª·µ„ε¨´Š£µ¥ÄœÂ˜n°¥nµÁ¡·ÉŠ¦o°ŠªnµÅ¤n¦¼oÁ¦ºÉ°ŠÁ¡¦µ³„ε¨´Š‹³°›·µ¥Ä®o¢{Š—´Šœ¸Ê‡¦´ Âœª¦´¦´ÅªoŤnÄ®o˜„ ®¤µ¥™¹Š n°¥‡¦´ÊŠš¸É¦µ‡µ®»oœÅ—o°n°œ˜´ª¨Š¤µ™¹Š – ¦³—´œ¸Êš¸Å¦ „Ȥ¸Â¦ŠŽºÊ°Á oµ¤µnª¥Ÿ¨´„—´œÄ®o ¦µ‡µ®»oœ¤¸„µ¦—¸—˜´ª„¨´ ¹ÊœÅžš»„š¸ ®¦º°°µ‹‹³„¨nµªÅ—oªnµÄœ°—¸˜š¸ÉŸnµœ¤µ ¤¸‡ªµ¤˜o°Š„µ¦ŽºÊ°Á„·— ¹Êœ Á¤ºÉ°¦µ‡µ¤µ™¹Š ¦³—´œ¸Ê Âœª˜oµœ˜oµœÅªoŤnÄ®o ¹Êœ®¤µ¥™¹Šn°¥‡¦´ÊŠš¸É¦µ‡µ®»oœÅ—o ¹Êœ¤µ™¹Š–¦³—´œ¸Êš¸Å¦„Ȥ¸Â¦ŠÁš µ¥°°„¤µ„—Ä®o¦µ‡µ®»oœ¤¸ „µ¦°n°œ˜´ª¨ŠÅžš»„š¸®¦º°°µ‹‹³„¨nµªÅ—oªnµÄœ°—¸˜š¸ÉŸnµœ¤µ¤¸‡ªµ¤˜o°Š„µ¦ µ¥Á„·— ¹Êœ¤µ–¦³—´¦µ‡µœ¸Ê ˜oµœ„¨µ¥Áž}œ¦´„n°œš¸É‹³°›·µ¥°¥µ„‹³Ä®oŸ¼o°nµœ‹·œ˜œµ„µ¦ªnµ„µ¦š¸É¦µ‡µ­µ¤µ¦™š³¨»Âœª˜oµœ ¹Êœ¤µÅ—oœ´ÉœÂ­—Š Ä®oÁ®Èœªnµ ‹³˜o°ŠÁ„·—¦ŠŽºÊ°¤µ„ ¹Êœ°¥nµŠÁ¡¸¥Š¡°‹œ­µ¤µ¦™Á°µœ³Â¦Š µ¥ ¨³Ÿ¨´„—´œÄ®o¦µ‡µ¤¸„µ¦ ¥´˜´ª ¹ÊœÅž ˜n ¡°¦³¥³Áª¨µŸnµœÅž „µ¦Á‡¨ºÉ°œ˜´ª °Š¦µ‡µ°µ‹‹³Á¦·É¤°n°œ˜´ª¨Š ‹œšÎµÄ®o¦µ‡µÁ„·—„µ¦ž¦´˜´ª¨Š¤µš—­°¦³—´š¸ÉÁ‡¥ Áž}œÂœª˜oµœÁ—·¤š¸ÉÁ¡·ÉŠŸnµœ¤µ „¦–¸œ¸ÊÂœª˜oµœœ´Êœ‹³šÎµ˜´ª„¨µ¥Áž}œÂœª¦´—oª¥Á®˜»Ÿ¨š¸Éªnµ „µ¦š¸Éš³¨» ¹ÊœÅž‡¦´ÊŠ„n°œœ´Êœ¤¸ ‡ªµ¤˜o°Š„µ¦ŽºÊ°­¼Š¤µ„˜¦Š¦·Áª–Âœª˜oµœ‹œ­µ¤µ¦™Á°µœ³Â¦Š µ¥Å—oÄœš¸É­»——´Šœ´Êœ‹¹ŠÁž}œ„µ¦‡µ—®ª´Š„´œªnµÂ¦ŠŽºÊ° œ´Êœœnµš¸É‹³„¨´Á oµ¤µ–¦³—´¦µ‡µœ¸Ê°¸„Á¡¦µ³Áž}œ¦³—´¦µ‡µš¸ÉÁ‡¥™¼„­œÄ‹Äœ°—¸˜‹µ„¦ŠŽºÊ°„¨»n¤œ¸Êœ°„‹µ„œ¸Ê¥´ŠÁž}œ Á®¤º°œ¦µ‡µ˜oœš»œ °Š„µ¦ŽºÊ°‡¦´ÊŠÂ¦„Ç Á¤ºÉ°˜°œš¸É˜¨µ—Áž¨¸É¥œÂœªÃœo¤ „µ¦ŽºÊ°‡¦´ÊŠ˜n°Ç¤µ °Š‡œš¸ÉÁ oµ¤µÂ®n˜µ¤®¨´Š ˜¨µ—Áž¨¸É¥œÂœªÃœo¤ ‹³­¼Š„ªnµ¦³—´œ¸Ê°¸„ —´Šœ´Êœ „µ¦‡µ—®ª´Š‡º° ¦µ‡µ®»oœœnµ‹³¤¸„µ¦—¸—˜´ª ¹Êœ‹µ„¦³—´Âœª˜oµœš¸É „¨µ¥Áž}œÂœª¦´Äœ –³œ¸Ê ¦´„¨µ¥Áž}œ˜oµœŸ¼o°nµœ¨°Š‹·œ˜œµ„µ¦ªnµ„µ¦š¸É¦µ‡µ­µ¤µ¦™š³¨»Âœª¦´¨Š¤µÅ—oœ´Éœ®¤µ¥™¹Š‹³˜o°ŠÁ„·—¦Š µ¥¤µ„ ¹Êœ°¥nµŠÁ¡¸¥Š¡°‹œ­µ¤µ¦™Á°µœ³Â¦ŠŽºÊ°‹¹Š„——´œÄ®o¦µ‡µ¤¸„µ¦°n°œ˜´ª¨ŠÅžÁ¤ºÉ°¦³¥³Áª¨µŸnµœÅž®¨´Š‹µ„„µ¦°n°œ˜´ª ¨Š °Š¦µ‡µ ¦µ‡µÁ¦·É¤š¸É‹³¤¸„µ¦ª„˜´ª ¹Êœ ¨³¤¸„µ¦Å˜n¦³—´ ¹Êœ¤µ – Âœª¦´Á—·¤š¸ÉÁ¡·ÉŠ‹³Ÿnµœ¤µ „¦–¸œ¸ÊÂœª¦´‹³„¨µ¥ Áž}œÂœª˜oµœ—oª¥Á®˜»Ÿ¨š¸Éªnµ„µ¦š¸Éš³¨»¨Š¤µÄœ‡¦´ÊŠ„n°œœ´Êœ¤¸‡ªµ¤˜o°Š„µ¦ µ¥­¼Š¤µ„˜¦ŠÂœª¦´‹œœ³Â¦ŠŽºÊ°—´Šœ´Êœ