{"id":23987,"date":"2022-07-16T22:13:28","date_gmt":"2022-07-16T14:13:28","guid":{"rendered":"https:\/\/\/?p=23987"},"modified":"2022-10-12T10:42:09","modified_gmt":"2022-10-12T02:42:09","slug":"what-is-cash-flows-from-investing","status":"publish","type":"post","link":"https:\/\/\/what-is-cash-flows-from-investing\/","title":{"rendered":"\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u600e\u9ebc\u770b\uff1f\u8cc7\u672c\u652f\u51fa\u6d41\u5165\u6d41\u51fa\u4ee3\u8868\u4ec0\u9ebc"},"content":{"rendered":"<!-- \/367108978\/Rich01_PC_up_728x90 -->\n\t<div class='div-gpt-ad-css' id='div-gpt-ad-1564472272479-0' style='width: 728px; height: 90px;'>\n\t  <script>\n\t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1564472272479-0'); });\n\t  <\/script>\n\t<\/div><p><img decoding=\"async\" class=\"alignnone size-full wp-image-38726\" src=/index.html"https:\/\/\/wp-content\/uploads\/20220709013042_87.jpg\" alt=\"\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\" width=\"1557\" height=\"815\" srcset=\"https:\/\/\/wp-content\/uploads\/20220709013042_87.jpg 1557w, https:\/\/\/wp-content\/uploads\/20220709013042_87-1536x804.jpg 1536w\" sizes=\"(max-width: 1557px) 100vw, 1557px\" \/><\/p>\n<p>\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u8868\u662f<a href=/index.html"https:\/\/\/what-cash-flow-statement\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u73fe\u91d1\u6d41\u91cf\u8868<\/a>3\u5927\u7d44\u6210\u67b6\u69cb\u4e4b\u4e00\uff0c<br \/>\n\u986f\u793a\u516c\u53f8\u5c0d\u6295\u8cc7\u9805\u76ee\u7684\u73fe\u91d1\u6d41\u5165\u548c\u6d41\u51fa\uff0c\u6295\u8cc7\u9805\u76ee\u5305\u542b\u50cf\u662f\u8cfc\u8cb7\u8a2d\u5099\u3001\u80a1\u7968\u6295\u8cc7\u2026\u7b49\uff0c<br \/>\n\u662f\u4e00\u9593\u516c\u53f8\u6295\u8cc7\u6d3b\u52d5\u7684\u91cd\u8981\u6307\u6a19\u3002<\/p>\n<p><!--more--><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_64 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">\u672c\u6587\u5e02\u5834\u5148\u751f\u6703\u544a\u8a34\u4f60\uff1a<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6611f8f6ce812\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 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href=/index.html"https:\/\/\/what-is-cash-flows-from-investing\/#%E6%8A%95%E8%B3%87%E7%8F%BE%E9%87%91%E6%B5%81%E7%9A%84%E5%A2%9E%E5%8A%A0%E6%88%96%E6%B8%9B%E5%B0%91%E4%BB%A3%E8%A1%A8%E4%BB%80%E9%BA%BC%E6%84%8F%E6%80%9D%EF%BC%9F\" title=\"\u6295\u8cc7\u73fe\u91d1\u6d41\u7684\u589e\u52a0\u6216\u6e1b\u5c11\u4ee3\u8868\u4ec0\u9ebc\u610f\u601d\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u6295\u8cc7\u73fe\u91d1\u6d41\u7684\u589e\u52a0\u6216\u6e1b\u5c11\u4ee3\u8868\u4ec0\u9ebc\u610f\u601d\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=/index.html"https:\/\/\/what-is-cash-flows-from-investing\/#%E6%8A%95%E8%B3%87%E7%8F%BE%E9%87%91%E6%B5%81_vs_%E7%87%9F%E6%A5%AD%E7%8F%BE%E9%87%91%E6%B5%81\" title=\"\u6295\u8cc7\u73fe\u91d1\u6d41 vs \u71df\u696d\u73fe\u91d1\u6d41\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u6295\u8cc7\u73fe\u91d1\u6d41 vs \u71df\u696d\u73fe\u91d1\u6d41<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=/index.html"https:\/\/\/what-is-cash-flows-from-investing\/#%E6%8A%95%E8%B3%87%E6%B4%BB%E5%8B%95%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8%E6%80%8E%E9%BA%BC%E7%9C%8B%EF%BC%9F\" title=\"\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u8868\u600e\u9ebc\u770b\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u8868\u600e\u9ebc\u770b\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=/index.html"https:\/\/\/what-is-cash-flows-from-investing\/#%E5%BF%AB%E9%80%9F%E9%87%8D%E9%BB%9E%E6%95%B4%E7%90%86%EF%BC%9A%E6%8A%95%E8%B3%87%E6%B4%BB%E5%8B%95%E7%8F%BE%E9%87%91%E6%B5%81%E6%98%AF%E4%BB%80%E9%BA%BC%EF%BC%9F\" title=\"\u5feb\u901f\u91cd\u9ede\u6574\u7406\uff1a\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u662f\u4ec0\u9ebc\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u5feb\u901f\u91cd\u9ede\u6574\u7406\uff1a\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u662f\u4ec0\u9ebc\uff1f<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E6%B4%BB%E5%8B%95%E7%8F%BE%E9%87%91%E6%B5%81%E6%98%AF%E4%BB%80%E9%BA%BC%E6%84%8F%E6%80%9D%EF%BC%9F\"><\/span>\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u662f\u4ec0\u9ebc\u610f\u601d\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<blockquote><p><strong>\u6295\u8cc7\u73fe\u91d1\u6d41\u91cf = <\/strong>\u516c\u53f8\u6295\u8cc7\u6d3b\u52d5\u7522\u751f\u7684\u73fe\u91d1\u6d41<\/p><\/blockquote>\n<p>\u6295\u8cc7\u73fe\u91d1\u6d41\u91cf\uff08\u82f1\u6587\uff1aCash Flows From Investing\uff09\uff0c\u9867\u540d\u601d\u7fa9\u662f\u516c\u53f8\u6295\u8cc7\u6d3b\u52d5\u7522\u751f\u7684\u73fe\u91d1\u6d41\uff0c<\/p>\n<p>\u4e5f\u662f\u516c\u53f8\u73fe\u91d1\u6d41\u91cf\u8868\u7684\u4e00\u90e8\u5206\uff0c\u5b83\u986f\u793a\u5728\u4e00\u500b\u7279\u5b9a\u6642\u671f\u5167\uff0c\u6709\u591a\u5c11\u9322\u88ab\u7528\u65bc(\u6216\u7522\u751f\u65bc)\u6295\u8cc7\u9805\u76ee\u4e0a\u3002<\/p>\n<p>\u9019\u4e9b\u6295\u8cc7\u6d3b\u52d5\u5305\u62ec\u8cfc\u8cb7\u9577\u671f\u8cc7\u7522(\u4f8b\u5982\u8ca1\u7522\u3001\u5ee0\u623f\u548c\u8a2d\u5099)\uff0c\u9019\u4e9b\u88ab\u7a31\u70ba<a href=/index.html"https:\/\/\/what-is-capital-expenditure\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u8cc7\u672c\u652f\u51fa(CapEx)\uff0c<\/a>\u800c\u6536\u8cfc\u5176\u4ed6\u516c\u53f8\u3001\u6295\u8cc7\u80a1\u7968\u548c\u50b5\u5238\u90fd\u7b97\u662f\u516c\u53f8\u7684\u6295\u8cc7\u73fe\u91d1\u6d41\u3002<\/p>\n<p>\u5c0d\u7d55\u5927\u591a\u6578\u6b63\u5e38\u4f01\u696d\u4f86\u8aaa\uff0c\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u901a\u5e38\u90fd\u662f\u8ca0\u503c\uff0c\u53cd\u6620\u8457\u4f01\u696d\u6709\u6301\u7e8c\u7684\u8cc7\u91d1\u6d41\u51fa\uff0c\u6295\u5165\u5230\u4e00\u4e9b\u8cc7\u7522\u7576\u4e2d\uff0c\u9810\u671f\u4fdd\u6301\u7af6\u722d\u529b\u4ee5\u53ca\u5728\u672a\u4f86\u5275\u9020\u66f4\u5927\u6536\u5165\u3002<\/p>\n<p>\u4f46\u5982\u679c\u4f01\u696d\u6709\u51fa\u552e\u5be6\u9ad4\u8cc7\u7522\u6216\u91d1\u878d\u8cc7\u7522\uff0c\u90a3\u9ebc\u5728\u67d0\u4e9b\u6642\u6a5f\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u4e5f\u53ef\u80fd\u70ba\u6b63\u503c\uff0c\u4f46\u9019\u985e\u7684\u6536\u5165\u5927\u591a\u53ea\u662f\u4e00\u6b21\u6027\u7684\u6536\u5165\u3002<\/p>\n<blockquote><p>\u73fe\u91d1\u6d41\u91cf\u8868\u67093\u5927\u67b6\u69cb\uff0c\u5206\u5225\u70ba\u71df\u696d\u6d3b\u52d5\u73fe\u91d1\u6d41\u3001\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u3001\u878d\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41<br \/>\n(\u4e5f\u53ef\u4ee5\u7701\u7565\u300c\u6d3b\u52d5\u300d\u5169\u5b57\uff0c\u76f4\u63a5\u7a31\u70ba\u71df\u696d\u73fe\u91d1\u6d41\u3001\u6295\u8cc7\u73fe\u91d1\u6d41\u3001\u878d\u8cc7\u73fe\u91d1\u6d41\u2026)\u3002<\/p>\n<p>\u5982\u679c\u5c0d\u73fe\u91d1\u6d41\u91cf\u8868\u4e0d\u592a\u4e86\u89e3\uff0c\u53ef\u5148\u95b1\u8b80\uff1a<a href=/index.html"https:\/\/\/what-cash-flow-statement\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">1\u5206\u9418\u770b\u61c2\u73fe\u91d1\u6d41\u91cf\u8868<\/a><\/p><\/blockquote>\n<p><strong>\u6295\u8cc7\u6d3b\u52d5\u4e3b\u8981\u5305\u542b\u9805\u76ee\uff1a<\/strong><\/p>\n<p>\u6bcf\u9593\u516c\u53f8\u7684\u6295\u8cc7\u6d3b\u52d5\u53ef\u80fd\u90fd\u4e0d\u76f8\u540c\uff0c\u4e3b\u8981\u662f\u5e95\u4e0b\u9019\u5e7e\u500b\u9805\u76ee\u3002<\/p>\n<ol>\n<li><span style=\"font-size: 16px;\">\u8cfc\u8cb7\/\u51fa\u552e \u5ee0\u623f\u3001\u571f\u5730\u548c\u8a2d\u5099( Purchase\/Sale Of Property, Plant, Equipment \u6216\u7c21\u7a31 PP&amp;E)\uff0c\u9019\u4e00\u9805\u4e5f\u5c31\u662f<a href=/index.html"https:\/\/\/what-is-capital-expenditure\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u8cc7\u672c\u652f\u51fa(CapEx)<\/a><\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u6536\u8cfc\/\u51fa\u552e \u5176\u4ed6\u4f01\u696d\u6216\u90e8\u5206\u4e8b\u696d (Acquisition of Business )<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u8cfc\u8cb7\u6709\u50f9\u8b49\u5238\u7684\u652f\u51fa (Purchase of Investments) \u4f8b\u5982\u80a1\u7968\u3001\u50b5\u5238\u7b49<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u51fa\u552e\u6709\u50f9\u8b49\u5238\u7684\u6536\u76ca (Sale of Investments)<\/span><\/li>\n<li>\u8cfc\u8cb7\/\u51fa\u552e<a href=/index.html"https:\/\/\/what-is-intangible-assets\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u7121\u5f62\u8cc7\u7522<\/a> (Purchase\/Sale of Intangibles)<\/li>\n<\/ol>\n<p>\u901a\u5e38\u8cfc\u8cb7\u4ee3\u8868\u82b1\u9322\uff0c\u73fe\u91d1\u6d41\u6703\u5448\u73fe\u8ca0\u503c\uff0c<br \/>\n\u800c\u51fa\u552e\u5247\u6703\u6536\u56de\u8cc7\u91d1\uff0c\u73fe\u91d1\u6d41\u6703\u5448\u73fe\u6b63\u503c\u3002<\/p>\n<p>\u5c0d\u5927\u591a\u6578\u7522\u696d\u4f86\u8aaa\uff0c\u5176\u4e2d\u6700\u91cd\u8981\u7684\u662f\u8cc7\u672c\u652f\u51fa\u9805\u76ee\u3002(\u9664\u4e86\u90e8\u5206\u91d1\u878d\u696d\u4f01\u696d\u6c92\u6709\u8cc7\u672c\u652f\u51fa\u9805\u76ee)<\/p>\n<p>\u4f46\u662f\u8981\u6ce8\u610f\uff0c\u6709\u4e9b\u9805\u76ee\u4e0d\u7b97\u5728\u6295\u8cc7\u6d3b\u52d5\u88e1\uff0c\u5305\u542b\u5e95\u4e0b\u5e7e\u500b\u9805\u76ee\uff1a<\/p>\n<p><strong>\u6295\u8cc7\u6d3b\u52d5\u4e0d\u5305\u542b\u7684\u9805\u76ee\uff1a<\/strong><\/p>\n<p>\u4ee5\u4e0b\u9019\u4e9b\u90fd\u662f\u5e38\u6703\u5bb9\u6613\u6df7\u6dc6\u8aa4\u89e3\u7684\u9805\u76ee\uff0c\u770b\u8d77\u4f86\u8ddf\u6295\u8cc7\u6709\u95dc\uff0c\u4f46\u5176\u5be6\u5c6c\u65bc\u5176\u4ed6\u985e\u73fe\u91d1\u6d41\u3002<\/p>\n<ol>\n<li><span style=\"font-size: 16px;\">\u5229\u606f\u652f\u4ed8\u6216\u80a1\u606f (\u5c6c\u65bc<a href=/index.html"https:\/\/\/what-is-cash-flows-from-financing\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u878d\u8cc7\u73fe\u91d1\u6d41<\/a>)<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u50b5\u52d9\u3001\u80a1\u6b0a\u6216\u5176\u4ed6\u5f62\u5f0f\u7684\u878d\u8cc7 (\u5c6c\u65bc<a href=/index.html"https:\/\/\/what-is-cash-flows-from-financing\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u878d\u8cc7\u73fe\u91d1\u6d41<\/a>)<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u8cc7\u672c\u8cc7\u7522\u7684\u6298\u820a\uff0c\u5373\u4f7f\u8cfc\u8cb7\u9019\u4e9b\u8cc7\u7522\u662f\u6295\u8cc7\u7684\u4e00\u90e8\u5206 (<a href=/index.html"https:\/\/\/what-is-depreciation-amortization\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u6298\u820a<\/a>\u6240\u52a0\u56de\u7684\u73fe\u91d1\u6d41\u6703\u52a0\u5230<a href=/index.html"https:\/\/\/what-operating-cash-flow\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u71df\u696d\u73fe\u91d1\u6d41<\/a>)<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u8207\u516c\u53f8\u6b63\u5e38\u696d\u52d9\u71df\u904b\u6709\u95dc\u7684\u6240\u6709\u6536\u5165\u548c\u652f\u51fa (\u5c6c\u65bc<a href=/index.html"https:\/\/\/what-operating-cash-flow\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u71df\u696d\u73fe\u91d1\u6d41<\/a>)<\/span><\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E7%8F%BE%E9%87%91%E6%B5%81%E7%9A%84%E5%A2%9E%E5%8A%A0%E6%88%96%E6%B8%9B%E5%B0%91%E4%BB%A3%E8%A1%A8%E4%BB%80%E9%BA%BC%E6%84%8F%E6%80%9D%EF%BC%9F\"><\/span>\u6295\u8cc7\u73fe\u91d1\u6d41\u7684\u589e\u52a0\u6216\u6e1b\u5c11\u4ee3\u8868\u4ec0\u9ebc\u610f\u601d\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<blockquote><p><span style=\"font-size: 16px;\"><strong>\u6295\u8cc7\u73fe\u91d1\u6d41\u6e1b\u5c11(<\/strong><strong>\u8ca0\u503c)<\/strong>\uff1a\u4ee3\u8868\u516c\u53f8\u53ef\u80fd\u6295\u8cc7\u4e86\u4e00\u4e9b\u5ee0\u623f\u548c\u8a2d\u5099(\u6709\u6295\u8cc7\u73fe\u91d1<strong>\u6d41\u51fa<\/strong>)<\/span><\/p>\n<p><span style=\"font-size: 16px;\"><strong>\u6295\u8cc7\u73fe\u91d1\u6d41\u589e\u52a0(<\/strong><strong>\u6b63\u503c)<\/strong>\uff1a\u4ee3\u8868\u516c\u53f8\u53ef\u80fd\u5728\u8b8a\u8ce3\u90e8\u5206\u8cc7\u7522(\u6709\u6295\u8cc7\u73fe\u91d1<strong>\u6d41\u5165<\/strong>)<\/span><\/p><\/blockquote>\n<p>\u4ee5\u4e0b\u5e7e\u500b\u9805\u76ee\u6703\u5f71\u97ff\u73fe\u91d1\u6d41\u662f\u8ca0\u6578\u3001\u6b63\u6578(\u589e\u52a0)<\/p>\n<p><span style=\"font-size: 16px;\">\u73fe\u91d1\u6d41\u51fa (\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u70ba\u8ca0)\uff1a<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 16px;\">\u8cfc\u8cb7\u56fa\u5b9a\u8cc7\u7522<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u8cfc\u8cb7\u6295\u8cc7\uff0c\u5982\u80a1\u7968\u6216\u8b49\u5238<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u6536\u8cfc\u4f01\u696d\u3001\u8cfc\u8cb7\u7121\u5f62\u8cc7\u7522<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 16px;\">\u73fe\u91d1\u6d41\u5165(\u6295\u8cc7\u73fe\u91d1\u6d41\u70ba\u6b63)\uff1a<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 16px;\">\u51fa\u552e\u56fa\u5b9a\u8cc7\u7522<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u51fa\u552e\u6295\u8cc7\u8b49\u5238<\/span><\/li>\n<li>\u51fa\u552e\u90e8\u5206\u4e8b\u696d\u3001\u51fa\u552e\u7121\u5f62\u8cc7\u7522<\/li>\n<\/ul>\n<p><strong>\u5927\u591a\u6578\u516c\u53f8\u6295\u8cc7\u73fe\u91d1\u6d41\u70ba\u8ca0\u503c\uff0c\u6bcf\u5e74\u6301\u7e8c\u6295\u5165\u8cc7\u91d1\u5728\u672c\u696d\u8207\u64f4\u5f35\u696d\u52d9\u3001\u4fdd\u6301\u7af6\u722d\u529b<\/strong><\/p>\n<p>\u5982\u679c\u516c\u53f8\u7684\u6295\u8cc7\u73fe\u91d1\u6d41\u5448\u73fe\u8ca0\u503c\uff0c\u5b83\u53ef\u80fd\u4ee3\u8868\u516c\u53f8\u6b63\u5728\u5c0d\u5176\u672a\u4f86\u7684\u71df\u904b\u9032\u884c\u6295\u8cc7\uff0c<br \/>\n<a href=/index.html"https:\/\/\/what-is-capital-expenditure\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u8cc7\u672c\u652f\u51fa<\/a>\u9ad8\u7684\u516c\u53f8\u5f80\u5f80\u662f\u90a3\u4e9b\u6b63\u5728\u6210\u9577\u7684\u516c\u53f8\uff0c<br \/>\n\u6240\u4ee5\u9019\u7a2e\u73fe\u91d1\u6d41\u7684\u6e1b\u5c11\uff0c\u5c6c\u65bc\u6b63\u5e38\u7684\u73fe\u8c61\uff0c\u4e0d\u4e00\u5b9a\u662f\u58de\u4e8b\u3002<\/p>\n<p>\u7576\u7136\uff0c\u4e26\u4e0d\u662f\u6709\u82b1\u9322\u6295\u8cc7\u672a\u4f86\u5c31\u597d\uff0c<br \/>\n\u9084\u8981\u8003\u616e\u82b1\u51fa\u53bb\u7684\u9322\u82b1\u5728\u54ea\u88e1\uff0c\u662f\u5426\u771f\u7684\u80fd\u6210\u70ba\u672a\u4f86\u7684\u6536\u76ca\uff0c\u9019\u624d\u662f\u95dc\u9375\u3002<\/p>\n<p>\u4f46\u672a\u4f86\u5176\u5be6\u4e0d\u6613\u5224\u65b7\uff0c\u6211\u5011\u901a\u5e38\u50c5\u80fd\u6191\u904e\u53bb\u7684\u7d93\u9a57\u548c\u6578\u64da\u4f86\u505a\u5206\u6790\uff0c<br \/>\n\u4f8b\u5982\u89c0\u5bdf\u4f01\u696d\u5982<a href=/index.html"https:\/\/\/what-is-roe\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">ROE<\/a>\u3001<a href=/index.html"https:\/\/\/what-is-roa\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">ROA<\/a>\u3001<a href=/index.html"https:\/\/\/roic-return-on-invested-capital\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">ROIC<\/a>\u3001<a href=/index.html"https:\/\/\/what-is-roce\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">ROCE<\/a>\u7b49\u6307\u6a19\u7684\u8b8a\u5316\uff0c<\/p>\n<blockquote><p>\u5e02\u5834\u5148\u751f\u63d0\u793a\uff1a\u9ad8\u984d\u7684\u8cc7\u672c\u652f\u51fa\uff0c\u4e26\u4e0d\u7d55\u5c0d\u7b49\u65bc\u672a\u4f86\u7684\u6210\u9577<\/p>\n<p>\u96d6\u8aaa\u6295\u8cc7\u73fe\u91d1\u6d41\u70ba\u8ca0\u3001\u516c\u53f8\u6301\u7e8c\u6709\u8cc7\u672c\u652f\u51fa\uff0c\u9019\u5e7e\u4e4e\u662f\u7d55\u5927\u591a\u6578\u516c\u53f8\u8ca1\u52d9\u5831\u8868\u4e0a\u5448\u73fe\u7684\u5e38\u614b\uff0c<\/p>\n<p>\u4f46\u5982\u679c\u516c\u53f8\u70ba\u4e86\u64f4\u5f35\u800c\u64f4\u5f35\u4e82\u6536\u8cfc\u4e00\u901a\uff0c\u6216\u8005\u5728\u7af6\u722d\u6fc0\u70c8\u7684\u7522\u696d\u4e2d\u82b1\u4e86\u5f88\u591a\u8cc7\u672c\u652f\u51fa\uff0c\u537b\u6c92\u6709\u5e36\u4f86\u6210\u9577\uff0c\u50c5\u50c5\u53ea\u662f\u907f\u514d\u843d\u5f8c\uff0c\u90a3\u90fd\u662f\u5371\u96aa\u7684\u8b66\u8a0a\u3002<\/p><\/blockquote>\n<p><strong>\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u70ba\u6b63\u503c\u6642\uff0c\u901a\u5e38\u4ee3\u8868\u7576\u671f\u6709\u67d0\u4e9b\u4e00\u6b21\u6027\u6536\u5165<\/strong><\/p>\n<p>\u5982\u679c\u516c\u53f8\u7684\u6295\u8cc7\u73fe\u91d1\u6d41\u589e\u52a0\uff0c\u53ef\u80fd\u662f\u56e0\u70ba\u8ce3\u6389\u4e00\u4e9b\u6295\u8cc7(\u53f0\u7063\u8f03\u5e38\u898b\u662f\u8ce3\u571f\u5730)\uff0c\u4e5f\u53ef\u80fd\u662f\u8a8d\u5217\u67d0\u4e9b\u91d1\u878d\u6295\u8cc7\u6536\u76ca\u3002<\/p>\n<p>\u770b\u4f3c\u6536\u5230\u9322\u9032\u4f86\uff0c\u4f46\u9019\u4e0d\u898b\u5f97\u597d\u4e8b\uff0c\u56e0\u70ba\u9019\u985e\u6295\u8cc7\u6536\u5165\u5927\u591a\u53ea\u6709\u4e00\u6b21\u6027\u6536\u5165\uff0c\u800c\u975e\u5e38\u614b\u6536\u5165\u3002<\/p>\n<p>\u4f46\u662f\u6709\u4e9b\u6295\u8cc7\u4eba\u66f4\u559c\u6b61\u80fd\u5f9e\u71df\u696d\u73fe\u91d1\u6d41\u7522\u751f\u73fe\u91d1\u6d41\u7684\u516c\u53f8\uff0c<br \/>\n\u800c\u4e0d\u662f\u900f\u904e\u6295\u8cc7\u6d3b\u52d5\u3001\u878d\u8cc7\u6d3b\u52d5\u7522\u751f\u73fe\u91d1\uff0c\u56e0\u70ba\u71df\u696d\u6d3b\u52d5\u73fe\u91d1\u6d41\u5165\u4ee3\u8868\u73fe\u91d1\u6d41\u662f\u5f9e\u516c\u53f8\u672c\u696d\u5f97\u4f86\u7684\u3002<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E7%8F%BE%E9%87%91%E6%B5%81_vs_%E7%87%9F%E6%A5%AD%E7%8F%BE%E9%87%91%E6%B5%81\"><\/span>\u6295\u8cc7\u73fe\u91d1\u6d41 vs \u71df\u696d\u73fe\u91d1\u6d41<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>\u6295\u8cc7\u73fe\u91d1\u6d41\u901a\u5e38\u662f\u8ca0\u503c\u6d41\u51fa\uff0c\u8cc7\u91d1\u7684\u4f86\u6e90\u901a\u5e38\u662f\u4f86\u81ea\u516c\u53f8\u71df\u904b\u7684\u7372\u5229\uff0c\u4e5f\u5c31\u662f\u71df\u696d\u73fe\u91d1\u6d41<\/strong><\/p>\n<p>\u5065\u5eb7\u6210\u719f\u7684\u4f01\u696d\uff0c\u901a\u5e38\u662f\u5c07\u81ea\u5df1\u7684\u7372\u5229\u632a\u51fa\u4e00\u90e8\u5206\u7528\u5728\u672a\u4f86\u7684\u6210\u9577\u8a08\u5283\u4e0a\uff0c<\/p>\n<p>\u5982\u679c\u6295\u8cc7\u73fe\u91d1\u6d41\u51fa\u5927\u65bc\u71df\u696d\u73fe\u91d1\u6d41\u5165\uff0c\u90a3\u9ebc\u4f01\u696d\u4fbf\u6703\u5165\u4e0d\u6577\u51fa\uff0c<br \/>\n\u9019\u6642\u9700\u8981\u5f9e\u878d\u8cc7\u7684\u7ba1\u9053\uff0c\u5411\u9280\u884c\u6216\u8005\u5411\u6295\u8cc7\u4eba\u5c0b\u6c42\u8cc7\u91d1\u878d\u8cc7\uff0c\u5426\u5247\u9577\u671f\u4e0b\u4f86\u6703\u51fa\u8cc7\u91d1\u5371\u6a5f\u3002<\/p>\n<p><strong>\u81ea\u7531\u73fe\u91d1\u6d41 = \u71df\u696d\u73fe\u91d1\u6d41 &#8211; \u8cc7\u672c\u652f\u51fa<\/strong><\/p>\n<p><a href=/index.html"https:\/\/\/what-free-cash-flow\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u81ea\u7531\u73fe\u91d1\u6d41<\/a>\u4fbf\u662f\u8861\u91cf\u4f01\u696d\u8cc7\u91d1\u662f\u5426\u5065\u5eb7\u7684\u6307\u6a19\uff0c<br \/>\n\u767d\u8a71\u7684\u8aaa\uff0c\u5c31\u662f\u62ff\u8cfa\u7684\u9322\u6263\u6389\u82b1\u7684\u8cc7\u672c\u652f\u51fa\u5f8c\uff0c\u662f\u5426\u9084\u6709\u5269\u9918\u3002<\/p>\n<p>\u5176\u4e2d<a href=/index.html"https:\/\/\/what-is-capital-expenditure\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u8cc7\u672c\u652f\u51fa<\/a>\uff0c\u901a\u5e38\u5c31\u662f\u6307\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u4e2d\uff0c\u6a5f\u5177\u5ee0\u623f\u8a2d\u5099\u7684\u652f\u51fa\u9019\u500b\u5b50\u9805\u76ee\u3002<\/p>\n<p>\u570b\u5916\u8ca1\u5831\u901a\u5e38\u6703\u5217\u51fa \u8cc7\u672c\u652f\u51fa(Capital Expenditure)\u9805\u76ee\uff0c\u4f46\u53f0\u7063\u7684\u8ca1\u5831\u6c92\u6709\u55ae\u7368\u5217\u51fa\u8cc7\u672c\u652f\u51fa\uff0c\u6709\u6642\u5c31\u6703\u7528\u6574\u500b\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u7684\u91d1\u984d\u4f86\u4ee3\u66ff\u8cc7\u672c\u652f\u51fa\uff0c\u8a08\u7b97\u81ea\u7531\u73fe\u91d1\u6d41\u91cf\u3002<\/p>\n<p>\u7531\u65bc\u8cc7\u672c\u652f\u51fa\u5927\u591a\u662f\u8ca0\u503c\uff0c\u52a0\u4e0a\u71df\u696d\u73fe\u91d1\u6d41\u4e4b\u5f8c\uff0c\u6211\u5011\u901a\u5e38\u671f\u5f85\u81ea\u7531\u73fe\u91d1\u6d41\u662f\u6b63\u503c\uff0c<br \/>\n\u751a\u81f3\u6709\u6642\u4e5f\u6703\u6aa2\u8996 \u6bcf\u80a1\u81ea\u7531\u73fe\u91d1\u6d41\uff0c\u62ff\u5b83\u4f86\u7576\u6210\u4f01\u696d\u76c8\u9918\u7684\u4e00\u9805\u6307\u6a19\u3002<\/p>\n<p><strong>\u5982\u679c\u81ea\u7531\u73fe\u91d1\u6d41\u51fa\u73fe\u8ca0\u503c\uff0c\u6295\u8cc7\u4eba\u5c31\u8981\u958b\u59cb\u8b66\u60d5\uff0c\u4f01\u696d\u662f\u5426\u6703\u6709\u8cc7\u91d1\u7f3a\u4e4f\u7684\u554f\u984c\u3002<\/strong><\/p>\n<p>\u6709\u6642\u5019\u662f\u4e00\u4e9b\u6bd4\u8f03\u5c6c\u65bc\u65e9\u671f\u3001\u6210\u9577\u671f\u968e\u6bb5\u7684\u4f01\u696d\uff0c\u76c8\u9918\u9084\u76f8\u5c0d\u5c11\uff0c\u6216\u8005\u5373\u4fbf\u6709\u76c8\u9918\uff0c\u4ecd\u9700\u66f4\u5927\u7684\u8cc7\u91d1\u5feb\u901f\u64f4\u5f35\uff0c\u9019\u6642\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u5c31\u6703\u5448\u73fe\u5927\u5e45\u6d41\u51fa\uff0c\u81ea\u7531\u73fe\u91d1\u6d41\u6703\u5448\u73fe\u70ba\u8ca0\u503c\uff0c\u4e3b\u8981\u4ef0\u8cf4<a href=/index.html"https:\/\/\/what-is-cash-flows-from-financing\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u878d\u8cc7\u73fe\u91d1\u6d41<\/a>\u7684\u8cc7\u91d1\u3002<\/p>\n<p>\u6709\u6642\u662f\u56e0\u70ba\u6709\u4e00\u4e9b\u91cd\u5927\u7684\u8cfc\u8cb7\uff0c\u4f01\u696d\u6709\u505a\u597d\u8db3\u5920\u7684\u878d\u8cc7\u8a08\u756b\uff0c\u90a3\u5c31\u6c92\u554f\u984c\uff0c<br \/>\n\u6709\u7684\u4f01\u696d\u5247\u662f\u56e0\u70ba\u71df\u696d\u6d3b\u52d5\u6709\u5b63\u7bc0\u6027\uff0c\u6240\u4ee5\u67d0\u4e9b\u5b63\u5ea6\u6703\u51fa\u73fe\u81ea\u7531\u73fe\u91d1\u6d41\u8ca0\u503c\uff0c\u9019\u7a2e\u53ef\u4ee5\u5408\u4f75\u8fd1\u56db\u5b63\u4e00\u8d77\u770b\uff0c\u901a\u5e38\u554f\u984c\u4e5f\u4e0d\u5927\u3002<\/p>\n<p>\u4f46\u5982\u679c\u71df\u904b\u8870\u9000\u4e14\u8cc7\u91d1\u5165\u4e0d\u6577\u51fa\uff0c\u9023\u7e8c\u6578\u671f\u51fa\u73fe\u81ea\u7531\u73fe\u91d1\u6d41\u8ca0\u503c\uff0c\u90a3\u5c31\u662f\u8b66\u8a0a\u3002<\/p>\n<p>\u8a73\u7d30\u53ef\u95b1\u8b80\uff1a<a href=/index.html"https:\/\/\/what-free-cash-flow\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u81ea\u7531\u73fe\u91d1\u6d41\u91cf\u662f\u4ec0\u9ebc\uff1f<\/a><\/p>\n<blockquote><p><strong>\u5e02\u5834\u5148\u751f\u63d0\u793a\uff1a\u4e26\u4e0d\u662f\u6240\u6709\u7522\u696d\u7684\u6210\u9577\u90fd\u9700\u8981\u4ef0\u8cf4\u6301\u7e8c\u7684\u6295\u8cc7\u8cc7\u672c\u652f\u51fa<\/strong><\/p>\n<p>\u8a31\u591a\u50b3\u7d71\u7522\u696d\uff0c\u6210\u9577\u7684\u65b9\u5f0f\u90fd\u662f\u9760\u589e\u52a0\u6a5f\u5177\u8a2d\u5099\u3001\u589e\u8a2d\u71df\u696d\u64da\u9ede\uff0c\u624d\u80fd\u7dda\u6027\u7684\u589e\u52a0\u7522\u91cf\u6216\u92b7\u91cf\u3002<\/p>\n<p>\u4f46\u4e26\u975e\u6240\u6709\u7522\u696d\u90fd\u662f\u5982\u6b64\uff0c<br \/>\n\u4e5f\u6709\u4e9b\u4f01\u696d\u662f\u7121\u9700\u9ad8\u984d\u7684\u8cc7\u672c\u6295\u5165\uff0c\u4fbf\u80fd\u5275\u9020\u51fa\u8207\u6295\u5165\u8cc7\u672c\u4e0d\u540c\u6bd4\u4f8b\u7684\u6210\u9577\u3002<\/p>\n<p>\u6211\u5011\u5f88\u96e3\u8aaa\u8ab0\u597d\u8ab0\u58de\uff0c\u56e0\u70ba\u5c0d\u4f01\u696d\u7d93\u71df\u4f86\u8aaa\uff0c\u56f0\u96e3\u9ede\u4e26\u4e0d\u76f8\u540c\u3002<\/p>\n<p>\u50cf\u662f\u80a1\u795e\u5df4\u83f2\u7279\uff0c\u66fe\u7d93\u63d0\u5230\u904e\u4ed6\u7279\u5225\u559c\u6b61\u4e0d\u9700\u8981\u6301\u7e8c\u6295\u5165\u8cc7\u672c\u4e5f\u80fd\u6210\u9577\u7684\u4f01\u696d\uff0c\u9019\u985e\u4f01\u696d\u64c1\u6709\u8a02\u50f9\u6b0a\uff0c\u53ea\u9700\u6f32\u50f9\u5373\u53ef\u5e36\u4f86\u6210\u9577\uff0c\u6f32\u50f9\u672c\u8eab\u4e5f\u4e0d\u6703\u4f7f\u92b7\u91cf\u964d\u4f4e\u3002<\/p>\n<p>\u67e5\u7406\u8499\u683c\u4e5f\u66fe\u8aaa\uff1a\u300c\u9019\u8b93\u6211\u60f3\u5230\u6709\u4e00\u500b\u4eba\uff0c\u770b\u8457\u6240\u6709\u7684\u5ee0\u623f\u8a2d\u5099\u8aaa\uff1a\u9019\u4e9b\u5168\u90fd\u662f\u6211\u7684\u7372\u5229\u3002\u6211\u5011\u8a0e\u53ad\u9019\u7a2e\u4f01\u696d\u3002\u300d<\/p>\n<p>\u600e\u6a23\u7684\u4f01\u696d\u80fd\u6709\u8f03\u5c11\u6295\u8cc7\u6d3b\u52d5\u4f9d\u7136\u80fd\u4fdd\u6301\u6210\u9577\uff1f\u9664\u4e86\u7522\u696d\u7279\u6027\u4ee5\u5916\uff0c\u5c31\u662f\u770b\u4f01\u696d\u662f\u5426\u6709\u7d93\u6fdf\u8b77\u57ce\u6cb3\u3002<br \/>\n\u95dc\u65bc\u8b77\u57ce\u6cb3\u53ef\u95b1\u8b80\uff1a<a href=/index.html"https:\/\/\/how-business-wealth-01\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u6295\u8cc7\u8b77\u57ce\u6cb3\u6709\u54ea\u4e9b\uff1f\u600e\u9ebc\u5206\u6790\u5224\u65b7\uff1f<\/a><\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E6%B4%BB%E5%8B%95%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8%E6%80%8E%E9%BA%BC%E7%9C%8B%EF%BC%9F\"><\/span>\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u8868\u600e\u9ebc\u770b\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u5f9e\u4e0b\u9762\u7684\u7db2\u7ad9\u4e2d\u5c31\u53ef\u4ee5\u67e5\u8a62\u5230\u53f0\u80a1\u3001\u7f8e\u80a1\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u8868\uff0c<br \/>\n\u5176\u4e2d\u6703\u986f\u793a\u6295\u8cc7\u73fe\u91d1\u6d41\u91cf\u9019\u500b\u9805\u76ee\u7522\u751f\u7684\u73fe\u91d1\u6d41\u662f\u8ca0\u6578(\u6e1b\u5c11)\u9084\u662f\u6b63\u6578(\u589e\u52a0)\u3002<\/p>\n<p>\u570b\u5167\u53f0\u80a1\u67e5\u8a62\u7db2\u7ad9\u53ef\u81f3\uff1a<a href=/index.html"https:\/\/goodinfo.tw\/StockInfo\/StockFinDetail.asp?RPT_CAT=BS_M_QUAR&amp;STOCK_ID=2330\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener nofollow\">Goodinfo!\u53f0\u7063\u80a1\u5e02\u8cc7\u8a0a\u7db2<\/a><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-38735\" src=/index.html"https:\/\/\/wp-content\/uploads\/20220709015035_58.jpg\" alt=\"\u67e5\u8a62\u53f0\u80a1\u6295\u8cc7\u73fe\u91d1\u6d41\u91cf\" width=\"1557\" height=\"815\" srcset=\"https:\/\/\/wp-content\/uploads\/20220709015035_58.jpg 1557w, https:\/\/\/wp-content\/uploads\/20220709015035_58-1536x804.jpg 1536w\" sizes=\"(max-width: 1557px) 100vw, 1557px\" \/><\/p>\n<p>\u570b\u5916\u7f8e\u80a1\u67e5\u8a62\u7db2\u7ad9\u53ef\u81f3\uff1a<a href=/index.html"https:\/\/www.morningstar.com\/stocks\/xnas\/aapl\/financials\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener nofollow\">Morningstar<\/a><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-38769 size-full\" src=/index.html"https:\/\/\/wp-content\/uploads\/20220710095644_72.jpg\" alt=\"\u67e5\u8a62\u7f8e\u80a1\u6295\u8cc7\u73fe\u91d1\u6d41\u91cf\" width=\"1557\" height=\"815\" srcset=\"https:\/\/\/wp-content\/uploads\/20220710095644_72.jpg 1557w, https:\/\/\/wp-content\/uploads\/20220710095644_72-1536x804.jpg 1536w\" sizes=\"(max-width: 1557px) 100vw, 1557px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E5%BF%AB%E9%80%9F%E9%87%8D%E9%BB%9E%E6%95%B4%E7%90%86%EF%BC%9A%E6%8A%95%E8%B3%87%E6%B4%BB%E5%8B%95%E7%8F%BE%E9%87%91%E6%B5%81%E6%98%AF%E4%BB%80%E9%BA%BC%EF%BC%9F\"><\/span>\u5feb\u901f\u91cd\u9ede\u6574\u7406\uff1a\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u662f\u4ec0\u9ebc\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><span style=\"font-size: 16px;\">\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u986f\u793a\u516c\u53f8\u5c0d\u6295\u8cc7\u9805\u76ee\u7684\u73fe\u91d1\u6d41\u5165\u548c\u6d41\u51fa\uff0c\u6295\u8cc7\u9805\u76ee\u5305\u542b\u50cf\u662f\u8cfc\u8cb7\u8a2d\u5099(<a href=/index.html"https:\/\/\/what-is-capital-expenditure\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u8cc7\u672c\u652f\u51fa<\/a>)\u3001\u4f01\u696d\u4f75\u8cfc\u3001\u91d1\u878d\u8cc7\u7522\u6295\u8cc7\u2026\u7b49\uff0c\u662f\u4e00\u9593\u516c\u53f8\u6295\u8cc7\u6d3b\u52d5\u7684\u91cd\u8981\u6307\u6a19\u3002<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u6295\u8cc7\u73fe\u91d1\u6d41\u589e\u52a0(\u6b63\u503c)\uff0c\u4ee3\u8868\u516c\u53f8\u53ef\u80fd\u5728\u8b8a\u8ce3\u8cc7\u7522\u56e0\u6b64\u6709\u73fe\u91d1\u6d41\u5165\uff1b\u6295\u8cc7\u73fe\u91d1\u6d41\u6e1b\u5c11(\u8ca0\u503c)\u4ee3\u8868\u516c\u53f8\u53ef\u80fd\u6295\u8cc7\u4e86\u4e00\u4e9b\u5ee0\u623f\u548c\u8a2d\u5099\uff0c\u6709\u6295\u8cc7\u73fe\u91d1\u6d41\u51fa\u3002<\/span><\/li>\n<li>\u5927\u591a\u6578\u60c5\u6cc1\u4e0b\uff0c\u4f01\u696d\u7684\u6295\u8cc7\u73fe\u91d1\u6d41\u591a\u70ba\u8ca0\u503c\uff0c\u6703\u6709\u6301\u7e8c\u7684\u8cc7\u672c\u652f\u51fa\u7528\u65bc\u672a\u4f86\u7684\u6210\u9577\u53ca\u4fdd\u6301\u7af6\u722d\u529b\u3002\u9019\u985e\u8cc7\u91d1\u6d41\u51fa<span style=\"font-size: 16px;\">\u4e26\u4e0d\u898b\u5f97\u662f\u58de\u4e8b\uff0c\u56e0\u70ba\u80fd\u4fc3\u9032\u516c\u53f8\u6210\u9577\uff0c\u4f46\u4e5f\u4e0d\u80fd\u4fdd\u8b49\u6240\u6709\u82b1\u6389\u7684\u9322\u90fd\u80fd\u5728\u672a\u4f86\u5275\u9020\u6536\u76ca\u3002<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u5982\u679c\u516c\u53f8\u7684\u6295\u8cc7\u73fe\u91d1\u6d41\u589e\u52a0\uff0c\u901a\u5e38\u539f\u56e0\u662f\u8ce3\u6389\u4e00\u4e9b\u8cc7\u7522\uff0c\u9019\u4e26\u4e0d\u4e00\u5b9a\u662f\u597d\u4e8b\uff0c\u56e0\u70ba\u9019\u985e\u6295\u8cc7\u6536\u5165\u5927\u591a\u53ea\u6709\u4e00\u6b21\u6027\u6536\u5165\uff0c\u800c\u975e\u5e38\u614b\u6536\u5165\u3002<\/span><\/li>\n<li>\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u7684\u652f\u51fa\uff0c\u6bd4\u8f03\u5065\u5eb7\u7684\u60c5\u6cc1\u61c9\u8a72\u662f\u4f86\u81ea\u71df\u696d\u6d3b\u52d5\u73fe\u91d1\u6d41\u7684\u6536\u5165\u4f86\u652f\u61c9\u3002\u56e0\u6b64\u901a\u5e38\u71df\u696d\u73fe\u91d1\u6d41\u5165\uff0c\u6703\u9060\u5927\u65bc\u6295\u8cc7\u73fe\u91d1\u6d41\u51fa\u3002\u50c5\u6709\u8655\u65bc\u65e9\u671f\u5c11\u6578\u5feb\u901f\u64f4\u5f35\u6210\u9577\u968e\u6bb5\u7684\u4f01\u696d\u71df\u696d\u73fe\u91d1\u6d41\u5165\u8f03\u5c11\uff0c\u6703\u9700\u8981\u4ef0\u8cf4\u5916\u90e8\u878d\u8cc7\u7684\u8cc7\u91d1\u4f86\u505a\u6295\u8cc7\u64f4\u5f35\u5feb\u901f\u6210\u9577\u3002<\/li>\n<li>\u81ea\u7531\u73fe\u91d1\u6d41\u53ef\u4ee5\u8861\u91cf\u71df\u696d\u73fe\u91d1\u6d41\u8207\u8cc7\u672c\u652f\u51fa\u7684\u5dee\u7570\uff0c\u81ea\u7531\u73fe\u91d1\u6d41\u4e00\u822c\u61c9\u8a72\u70ba\u6b63\u503c\u3002\u7576\u81ea\u7531\u73fe\u91d1\u6d41\u70ba\u8ca0\u503c\u6642\u9700\u8981\u5c0f\u5fc3\u3002<\/li>\n<\/ol>\n<p>\u5e02\u5834\u5148\u751f\u5fc3\u5f97\uff1a\u4e00\u500b\u503c\u5f97\u601d\u8003\u7684\u554f\u984c\u662f\uff0c\u4f01\u696d\u652f\u51fa\u9ad8\u5230\u5e95\u662f\u597d\u4e8b\u9084\u662f\u58de\u4e8b\uff1f<\/p>\n<p>\u6709\u4e9b\u4eba\u770b\u5f85\u4f01\u696d\u7684\u5206\u6790\u8a55\u4f30\u65b9\u5f0f\uff0c\u6703\u628a\u5b83\u7576\u6210\u4e00\u500b\u91d1\u725b(cash cow)\uff0c\u8a8d\u70ba\u4f01\u696d\u5c31\u662f\u8981\u4e0d\u65b7\u8cfa\u9322\uff0c\u591a\u8cfa\u5c11\u82b1\uff0c\u8cfa\u5230\u7684\u6700\u597d\u5168\u90e8\u5206\u914d\u7d66\u80a1\u6771\uff0c\u6295\u8cc7\u73fe\u91d1\u6d41\u652f\u51fa\u8d8a\u5c11\u8d8a\u597d\u3002<\/p>\n<p>\u6709\u4e9b\u4eba\u5247\u5e0c\u671b\u9078\u64c7\u6301\u7e8c\u6210\u9577\u7684\u4f01\u696d\uff0c\u8a8d\u70ba\u53ea\u8981\u80fd\u5728\u672a\u4f86\u5275\u9020\u66f4\u597d\u7684\u5831\u916c\uff0c\u90a3\u5c31\u662f\u597d\u7684\u6295\u8cc7\u6a5f\u6703\uff0c\u4f01\u696d\u61c9\u8a72\u628a\u63e1\u9019\u7a2e\u6a5f\u6703\uff0c\u6295\u8cc7\u4eba\u624d\u53ef\u80fd\u5f97\u5230\u5de8\u5927\u7684\u6210\u9577\u52d5\u80fd\u3002<\/p>\n<p>\u9078\u54ea\u4e00\u7a2e\u597d\uff1f\u5e02\u5834\u5148\u751f\u8a8d\u70ba\uff0c\u9019\u7aef\u770b\u4f60\u7684\u6295\u8cc7\u54f2\u5b78\u3002<\/p>\n<p>\u5f9e\u9632\u79a6\u3001\u4fdd\u5b88\u7684\u89d2\u5ea6\u601d\u8003\uff0c\u6211\u5011\u6703\u5047\u8a2d\u4f01\u696d\u904e\u591a\u7684\u6295\u8cc7\u652f\u51fa\uff0c\u5728\u672a\u4f86\u4e0d\u4e00\u5b9a\u80fd\u5f97\u5230\u56de\u5831\u3002<br 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