{"id":24372,"date":"2021-08-20T13:33:45","date_gmt":"2021-08-20T05:33:45","guid":{"rendered":"https:\/\/\/?p=24372"},"modified":"2023-12-11T09:53:28","modified_gmt":"2023-12-11T01:53:28","slug":"how-to-read-10k-for-beginners","status":"publish","type":"post","link":"https:\/\/\/how-to-read-10k-for-beginners\/","title":{"rendered":"10-k\u8ca1\u5831\u600e\u9ebc\u770b\uff1f\u7f8e\u570b\u8ca1\u5831\u95b1\u8b80\u5165\u9580\u6559\u5b78"},"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 wp-image-48745 size-full\" src=/index.html"https:\/\/\/wp-content\/uploads\/20230218161532_68.jpg\" alt=\"\u7f8e\u570b\u8ca1\u5831-10-k\u8ca1\u5831\u600e\u9ebc\u770b\" width=\"1329\" height=\"696\" \/><\/p>\n<p>\u5982\u679c\u60f3\u6295\u8cc7\u7f8e\u570b\u4e0a\u5e02\u516c\u53f8\uff0c\u95b1\u8b80\u516c\u53f8\u7684\u8ca1\u5831\u662f\u5f88\u597d\u7684\u958b\u59cb\uff0c\u5b83\u53ef\u4ee5\u8b93\u4f60\u5728\u4e09\u5927\u5831\u8868\u4ee5\u5916\u5c0d\u516c\u53f8\u6709\u66f4\u8a73\u76e1\u7684\u8a8d\u8b58\uff0c\u672c\u7bc7\u5e02\u5834\u5148\u751f\u5c07\u6703\u91dd\u5c0d10-K\u8ca1\u5831\u9032\u884c\u57fa\u672c\u4ecb\u7d39\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-66128e7620cbb\" 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 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-66128e7620cbb\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=/index.html"https:\/\/\/how-to-read-10k-for-beginners\/#10-K%E3%80%8110-Q%E3%80%818-K%E3%80%816-K%E6%98%AF%E4%BB%80%E9%BA%BC%EF%BC%9F\" title=\"10-K\u300110-Q\u30018-K\u30016-K\u662f\u4ec0\u9ebc\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">10-K\u300110-Q\u30018-K\u30016-K\u662f\u4ec0\u9ebc\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=/index.html"https:\/\/\/how-to-read-10k-for-beginners\/#%E5%A6%82%E4%BD%95%E6%9F%A5%E8%A9%A2%E7%BE%8E%E8%82%A1%E8%B2%A1%E5%A0%B1%EF%BC%9F\" title=\"\u5982\u4f55\u67e5\u8a62\u7f8e\u80a1\u8ca1\u5831\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u5982\u4f55\u67e5\u8a62\u7f8e\u80a1\u8ca1\u5831\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:\/\/\/how-to-read-10k-for-beginners\/#%E4%BA%86%E8%A7%A310-K%E5%A0%B1%E8%A1%A8%E6%9E%B6%E6%A7%8B\" title=\"\u4e86\u89e310-K\u5831\u8868\u67b6\u69cb\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u4e86\u89e310-K\u5831\u8868\u67b6\u69cb<\/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:\/\/\/how-to-read-10k-for-beginners\/#%E5%A6%82%E4%BD%95%E9%96%B1%E8%AE%8010-K%E5%A0%B1%E8%A1%A8%EF%BC%9F\" title=\"\u5982\u4f55\u95b1\u8b8010-K\u5831\u8868\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u5982\u4f55\u95b1\u8b8010-K\u5831\u8868\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:\/\/\/how-to-read-10k-for-beginners\/#%E6%96%B0%E6%89%8B%E5%8F%AF%E5%85%88%E5%BE%9E%E9%87%8D%E9%BB%9E%E9%A0%85%E7%9B%AE%E7%9C%8B%E8%B5%B7\" title=\"\u65b0\u624b\u53ef\u5148\u5f9e\u91cd\u9ede\u9805\u76ee\u770b\u8d77\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u65b0\u624b\u53ef\u5148\u5f9e\u91cd\u9ede\u9805\u76ee\u770b\u8d77<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"10-K%E3%80%8110-Q%E3%80%818-K%E3%80%816-K%E6%98%AF%E4%BB%80%E9%BA%BC%EF%BC%9F\"><\/span>10-K\u300110-Q\u30018-K\u30016-K\u662f\u4ec0\u9ebc\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>10-K\u662f\u5728\u7f8e\u570b\u4e0a\u5e02\u7684\u516c\u53f8\u6bcf\u5e74\u8981\u4ea4\u7d66\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\uff08U.S. Securities and Exchange commission\uff0c\u7c21\u7a31SEC\uff09\u7684\u5e74\u5ea6\u5831\u544a\u3002<\/p>\n<p>10-K\u88e1\u9762\u63d0\u4f9b\u6709\u95dc\u516c\u53f8\u7684\u5404\u7a2e\u8cc7\u8a0a\uff0c\u5305\u542b\u516c\u53f8\u4ecb\u7d39\u3001\u7522\u54c1\u8207\u670d\u52d9\u3001\u7522\u696d\u73fe\u6cc1\u3001\u53ef\u80fd\u9762\u81e8\u7684\u98a8\u96aa\u3001\u7ba1\u7406\u968e\u5c64\u89c0\u9ede\u3001\u4e09\u5927\u5831\u8868\u3001\u7d9c\u5408\u71df\u696d\u5831\u8868\u3001\u80a1\u6771\u6b0a\u76ca\u8b8a\u52d5\u8868&#8230;\u7b49\u7b49\uff0c\u80fd\u8b93\u6295\u8cc7\u4eba\u4e86\u89e3\u516c\u53f8\u4eca\u5e74\u7684\u71df\u904b\u72c0\u6cc1\u53ca\u672a\u4f86\u5c55\u671b\uff0c\u662f\u4efd\u975e\u5e38\u8a73\u7d30\u7684\u6587\u4ef6\u3002<\/p>\n<p>\u9664\u4e8610-K\u4e4b\u5916\uff0c\u5176\u5be6\u9084\u670910-Q\u30018-K\u30016-K\u7b49\u6587\u4ef6\uff0c\u4e5f\u90fd\u662f\u9700\u63d0\u4ea4\u7d66SEC\u7684\uff0c\u56db\u8005\u6bd4\u8f03\u5982\u4e0b\uff1a<\/p>\n<table style=\"border-collapse: collapse; width: 100%; height: 312px;\">\n<tbody>\n<tr style=\"height: 24px;\">\n<td style=\"background-color: #014876; text-align: center;\" colspan=\"3\"><strong><span style=\"color: #ffffff; font-size: 20px;\">10-K\u300110-Q\u30018-K\u30016-K \u5831\u8868\u4ecb\u7d39<\/span><\/strong><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"text-align: center;\"><strong>\u5831\u8868<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>\u4e3b\u8981\u5167\u5bb9<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>\u7e73\u4ea4\u6642\u9593<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 96px;\">\n<td style=\"text-align: center;\">10-K \u5e74\u5ea6\u5831\u544a<br \/>\n(annual reports)<\/td>\n<td style=\"text-align: left;\">\u8a73\u7d30\u8a18\u9304\u516c\u53f8\u71df\u904b\u72c0\u6cc1\u7b49\u5404\u7a2e\u8cc7\u8a0a\uff0c\u8ca1\u52d9\u5831\u8868\u662f\u5df2\u7d93\u904e\u5be9\u8a08\u7684\u3002<\/td>\n<td style=\"text-align: center;\">\u9700\u65bc\u8ca1\u52d9\u5e74\u5ea6\u7d50\u675f\u5f8c60~90\u5929\u5167\u7e73\u4ea4<br \/>\n(\u4f9d\u4f01\u696d\u898f\u6a21\u5927\u5c0f\u6c7a\u5b9a\u5929\u6578)<\/td>\n<\/tr>\n<tr style=\"height: 120px;\">\n<td style=\"text-align: center;\">10-Q \u5b63\u5ea6\u5831\u544a<br \/>\n(quarterly reports)<\/td>\n<td style=\"text-align: left;\">\u8a18\u9304\u516c\u53f8\u76ee\u524d\u71df\u904b\u72c0\u6cc1\u7684\u5831\u544a\uff0c\u901a\u5e38\u6703\u6bd410-K\u518d\u7c21\u77ed\u4e00\u4e9b\uff0c\u8ca1\u52d9\u5831\u8868\u662f\u5c1a\u672a\u7d93\u904e\u5be9\u8a08\u7684\u3002<\/td>\n<td style=\"text-align: center;\">\u9700\u65bc\u8ca1\u52d9\u5b63\u5ea6\u7d50\u675f\u5f8c40~45\u5929\u7e73\u4ea4<br \/>\n(\u4f9d\u4f01\u696d\u898f\u6a21\u5927\u5c0f\u6c7a\u5b9a\u5929\u6578)<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"text-align: center;\">8-K \u7576\u524d\u5831\u544a<br \/>\n(current report)<\/td>\n<td style=\"text-align: left;\">\u8aaa\u660e\u300c\u4e0d\u5728\u8a08\u5283\u4e4b\u5167\uff0c\u4f46\u5c0d\u80a1\u6771\u4f86\u8aaa\u5f88\u91cd\u8981\u7684\u4e8b\u4ef6\u300d\uff0c\u4f8b\u5982\u5de5\u5ee0\u95dc\u9589\u3001\u516c\u53f8\u88c1\u54e1\u3001\u57f7\u884c\u9577\u96e2\u8077&#8230;\u7b49\u7b49\u3002<\/td>\n<td style=\"text-align: center;\">\u91cd\u5927\u4e8b\u4ef6\u767c\u751f\u5f8c4\u500b\u5de5\u4f5c\u5929\u7e73\u4ea4<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">6-K \u5831\u544a<br \/>\n(Form 6-K)<\/td>\n<td style=\"text-align: left;\">\u2022 \u8aaa\u660e\u516c\u53f8\u5373\u6642\u7684\u91cd\u5927\u4e8b\u4ef6\uff0c\u4f8b\u5982\u5927\u80a1\u6771\u6301\u80a1\u8b8a\u52d5\u3001\u8058\u96c7\u4e3b\u7ba1\u3001\u5b50\u516c\u53f8\u6ce8\u8cc7\u91d1\u984d&#8230;\u7b49\u7b49\u3002<\/p>\n<p>\u2022 \u5728\u7f8e\u570b\u4e0a\u5e02\u7684\u5916\u570b\u516c\u53f8\u9700\u7e73\u4ea4\uff0c\u4e14\u4e00\u5b9a\u8981\u662f\u82f1\u6587\uff0c\u4f8b\u5982\u53f0\u7a4d\u96fb\u5728\u7f8e\u570b\u4e0a\u5e02\uff0c\u5c31\u8981\u4ea46-K\u3002<\/td>\n<td style=\"text-align: center;\">\u91cd\u5927\u4e8b\u4ef6\u767c\u751f\u6642\u5373\u6642\u7e73\u4ea4<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"text-align: right;\" colspan=\"3\">\u8cc7\u6599\u4f86\u6e90\uff1ainvestor.gov\u00a0 \u8cc7\u6599\u6574\u7406\uff1a<a href=/index.html"https:\/\/\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">Mr.Market\u5e02\u5834\u5148\u751f<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"%E5%A6%82%E4%BD%95%E6%9F%A5%E8%A9%A2%E7%BE%8E%E8%82%A1%E8%B2%A1%E5%A0%B1%EF%BC%9F\"><\/span>\u5982\u4f55\u67e5\u8a62\u7f8e\u80a1\u8ca1\u5831\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u4e00\u822c\u4f86\u8aaa\uff0c\u5404\u500b\u516c\u53f8\u7684\u5b98\u65b9\u7db2\u7ad9\u662f\u67e5\u5f97\u5230\u7684\uff0c\u6216\u662fgoogle\u641c\u5c0b(\u4f8b\u5982\uff1a\u860b\u679c\u516c\u53f8\u768410-K\uff0c\u53ef\u76f4\u63a5\u8f38\u5165&#8221;apple 10k&#8221;\u641c\u5c0b)\uff0c\u9664\u6b64\u4e4b\u5916\uff0c\u4e5f\u53ef\u4ee5\u5230SEC\u7684\u7db2\u7ad9\u67e5\u8a62\uff0c\u4ee5\u4e0b\u662f\u6d41\u7a0b\u5716\u89e3\uff1a<\/p>\n<p>1.\u9032\u5165<a href=/index.html"https:\/\/www.sec.gov\/\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">\u7f8e\u570bSEC\u5b98\u65b9\u7db2\u7ad9<\/a>\uff0c\u65bc\u53f3\u4e0a\u89d2\u641c\u5c0b\u65b9\u683c\u8f38\u5165\u516c\u53f8\u540d\u7a31\u4e26\u9ede\u9078(\u4ee5\u860b\u679c\u516c\u53f8\u70ba\u4f8b)\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24379\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210816151447_98.jpg\" alt=\"\u5982\u4f55\u67e5\u8a6210k\u8ca1\u5831\u6b65\u9a5f\u4e00\" width=\"2030\" height=\"1118\" srcset=\"https:\/\/\/wp-content\/uploads\/20210816151447_98.jpg 2030w, https:\/\/\/wp-content\/uploads\/20210816151447_98-1536x846.jpg 1536w\" sizes=\"(max-width: 2030px) 100vw, 2030px\" \/><\/p>\n<p>2.\u9ede\u64ca [+] \u7b26\u865f\u6216\u9ede\u64ca\u7db2\u9801\u5de6\u5074\u7684\u5831\u8868\u5373\u53ef\u67e5\u770b\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24380\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210816151522_10.jpg\" alt=\"\u5982\u4f55\u67e5\u8a6210k\u8ca1\u5831\u6b65\u9a5f\u4e8c\" width=\"2040\" height=\"1112\" srcset=\"https:\/\/\/wp-content\/uploads\/20210816151522_10.jpg 2040w, https:\/\/\/wp-content\/uploads\/20210816151522_10-1536x837.jpg 1536w\" sizes=\"(max-width: 2040px) 100vw, 2040px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E4%BA%86%E8%A7%A310-K%E5%A0%B1%E8%A1%A8%E6%9E%B6%E6%A7%8B\"><\/span>\u4e86\u89e310-K\u5831\u8868\u67b6\u69cb<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u9996\u5148\uff0c\u8b93\u6211\u5011\u5148\u4f86\u770b\u770b10-k\u5831\u8868\u7684\u67b6\u69cb\uff0c<\/p>\n<p>10-K\u5831\u8868\u67b6\u69cb\u5927\u81f4\u5206\u6210\u56db\u500b\u90e8\u5206(Part)\uff0c\u6bcf\u4e00\u90e8\u5206\u4e2d\u6703\u6709\u5e7e\u500b\u7d30\u9805(Item)\uff0c\u4e0b\u5716\u4ee5\u860b\u679c\u516c\u53f8\u70ba\u4f8b\uff1a<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24699\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820094607_90.png\" alt=\"10k\u5831\u8868\u67b6\u69cb\" width=\"660\" height=\"1080\" \/><\/p>\n<blockquote><p><strong>\u5e02\u5834\u5148\u751f\u63d0\u793a\uff1a<\/strong><\/p>\n<p>10-K\u5831\u8868\u5167\u5bb9\u975e\u5e38\u591a\uff0c\u4f46\u5176\u5be6\u53ea\u8981\u516c\u53f8\u6c92\u6709\u91cd\u5927\u8b8a\u5316\uff0c\u770b\u7b2c\u4e00\u90e8\u5206\u53ca\u7b2c\u4e8c\u90e8\u5206\u53ef\u80fd\u5c31\u5dee\u4e0d\u591a\u4e86\u3002<\/p>\n<p>\u7b2c\u4e00\u90e8\u5206\u4e3b\u8981\u662f\u8a8d\u8b58\u516c\u53f8\u7684\u4e3b\u8981\u696d\u52d9\uff0c\u53ca\u73fe\u5728\u662f\u5426\u6709\u91cd\u5927\u6cd5\u5f8b\u554f\u984c\uff0c\u7b2c\u4e8c\u90e8\u5206\u5247\u662f\u5404\u7a2e\u8ca1\u52d9\u6578\u64da\uff0c\u91cd\u9ede\u5728\u7406\u89e3\u516c\u53f8\u76ee\u524d\u7684\u71df\u904b\u72c0\u6cc1\u53ca\u98a8\u96aa(\u672c\u7bc7\u7d50\u5c3e\u6703\u518d\u6b21\u9ede\u51fa\u91cd\u9ede\u9805\u76ee)\uff0c\u65b0\u624b\u5728\u8a8d\u8b5810-K\u6574\u9ad4\u67b6\u69cb\u5f8c\uff0c\u5efa\u8b70\u5148\u4e86\u89e3\u9019\u4e9b\u5373\u53ef\u3002<\/p><\/blockquote>\n<h3>\u7b2c\u4e00\u90e8\u5206\uff08Part I\uff09<\/h3>\n<p><strong>\u9805\u76ee\u4e00\uff08Item 1\uff09\uff1a \u516c\u53f8\u696d\u52d9\uff08Business\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u696d\u52d9\uff0c\u5305\u62ec\u516c\u53f8\u80cc\u666f\u3001\u4e3b\u8981\u7522\u54c1\/\u670d\u52d9\u53ca\u5e02\u5834\uff0c\u4e5f\u6709\u53ef\u80fd\u5305\u542b\u5e02\u5834\u73fe\u6cc1\u3001\u7af6\u722d\u5c0d\u624b\u3001\u8fd1\u671f\u4e8b\u4ef6\u3001\u54e1\u5de5\u4eba\u6578\u7b49\u8cc7\u8a0a\u3002<\/p>\n<p><strong>\u9805\u76ee\u4e00\u7d30\u9805A\uff08Item 1A\uff09\uff1a\u98a8\u96aa\u56e0\u7d20\uff08Risk Factors\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u53ef\u80fd\u9762\u81e8\u7684\u91cd\u5927\u98a8\u96aa\uff08\u4f8b\u5982\uff1a\u75ab\u60c5\u5c0d\u516c\u53f8\u53ef\u80fd\u9020\u6210\u54ea\u4e9b\u5f71\u97ff\uff09\uff0c\u901a\u5e38\u6703\u4f9d\u7167\u98a8\u96aa\u7684\u91cd\u8981\u6027\u7531\u4e0a\u800c\u4e0b\u6392\u5e8f\u3002<\/p>\n<p><strong>\u9805\u76ee\u4e00\u7d30\u9805B\uff08Item 1B\uff09\uff1a\u5c1a\u672a\u89e3\u6c7a\u7684\u54e1\u5de5\u610f\u898b\uff08Unresolved Staff Comments\uff09<\/strong><br \/>\n\u5982\u679cSEC\u54e1\u5de5\u5c0d\u516c\u53f8\u7e73\u4ea4\u7684\u5831\u544a\u6709\u63d0\u51fa\u7591\u554f\uff0c\u4e14\u4e00\u6bb5\u6642\u9593\u5167\u90fd\u6c92\u6709\u88ab\u89e3\u6c7a\uff0c\u5c31\u6703\u5217\u5728\u6b64\u8655\u3002<\/p>\n<p><strong>\u9805\u76ee\u4e8c\uff08Item 2\uff09\uff1a\u8ca1\u7522\uff08Properties\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u4e3b\u8981\u5be6\u9ad4\u8ca1\u7522\uff0c\u4f8b\u5982\uff1a\u7e3d\u90e8\u4f4d\u7f6e\u3002<\/p>\n<p><strong>\u9805\u76ee\u4e09\uff08Item 3\uff09\uff1a\u6cd5\u5f8b\u8a34\u8a1f\uff08Legal Proceedings\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u6b63\u5728\u9032\u884c\u7684\u91cd\u5927\u8a34\u8a1f\u6216\u5176\u4ed6\u6cd5\u5f8b\u7a0b\u5e8f\u3002<\/p>\n<p><strong>\u9805\u76ee\u56db\uff08Item 4\uff09\uff1a\u7926\u5c71\u5b89\u5168\u63ed\u9732\uff08Mine Safety Disclosures\uff09<\/strong><br \/>\n\u5982\u679c\u516c\u53f8\u6709\u7926\u5c71\u8cc7\u6e90\uff0c\u5247\u9808\u5728\u6b64\u5217\u51fa\u7926\u5c71\u5b89\u5168\u8cc7\u8a0a\u3002<\/p>\n<h3>\u7b2c\u4e8c\u90e8\u5206\uff08Part II\uff09<\/h3>\n<p><strong>\u9805\u76ee\u4e94\uff08Item 5\uff09\uff1a\u666e\u901a\u80a1\u3001\u80a1\u6771\u76f8\u95dc\u4e8b\u9805\u548c\u767c\u884c\u4eba\u80a1\u7968\u8b49\u5238\u8cfc\u8cb7\u7b49\u80a1\u5e02\u76f8\u95dc\u8cc7\u8a0a\uff08Market for Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities\uff09<\/strong><br \/>\n\u63cf\u8ff0\u80a1\u7968\u76f8\u95dc\u4e8b\u9805\uff0c\u4f8b\u5982\uff1a\u80a1\u50f9\u3001\u80a1\u7968\u6301\u6709\u4eba\u6578\u3001\u80a1\u606f\u3001\u516c\u53f8\u56de\u8cfc\u80a1\u7968\u7b49\u8cc7\u8a0a\u3002<\/p>\n<p><strong>\u9805\u76ee\u516d\uff08Item 6\uff09\uff1a\u4e4b\u524d\u516c\u53f8\u9700\u63d0\u4f9b\u904e\u53bb\u4e94\u5e74\u7684\u8ca1\u52d9\u6578\u64da\uff08Selected Financial Data\uff09<\/strong>\uff0c\u4f46\u65bc2021\/02\u4e4b\u5f8c\u5df2\u7121\u6b64\u898f\u5b9a\u3002<\/p>\n<p><strong>\u9805\u76ee\u4e03\uff08Item 7\uff09\uff1a\u7ba1\u7406\u968e\u5c64\u5c0d\u8ca1\u52d9\u72c0\u6cc1\u548c\u7d93\u71df\u6210\u679c\u7684\u8a0e\u8ad6\u548c\u5206\u6790\uff08Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations\uff0c\u53c8\u7a31MD&amp;A\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u7ba1\u7406\u968e\u5c64\u5c0d\u6b64\u5e74\u5ea6\u5831\u544a\u7684\u770b\u6cd5\uff0c\u9019\u500b\u9805\u76ee\u901a\u5e38\u662f\u6295\u8cc7\u4eba\u770b10-K\u7684\u91cd\u9ede\u9805\u76ee\u4e4b\u4e00\uff0c<br \/>\n\u80fd\u85c9\u7531\u7ba1\u7406\u968e\u5c64\u7684\u89c0\u9ede\u66f4\u4e86\u89e3\u516c\u53f8\u9019\u4e00\u8ca1\u52d9\u5e74\u5ea6\u7684\u71df\u904b\u72c0\u6cc1\u3002<\/p>\n<p><strong>\u9805\u76ee\u4e03\u7d30\u9805\uff08Item 7A\uff09\uff1a\u5b9a\u91cf\u53ca\u5b9a\u6027\u7684\u5e02\u5834\u98a8\u96aa\uff08Quantitative and Qualitative Disclosures about Market Risk\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u9762\u81e8\u7684\u5e02\u5834\u98a8\u96aa\uff0c\u4f8b\u5982\uff1a\u532f\u7387\u98a8\u96aa\u3001\u80a1\u50f9\u98a8\u96aa\u7b49\u7b49\u3002<\/p>\n<p><strong>\u9805\u76ee\u516b\uff08Item 8\uff09\uff1a\u8ca1\u52d9\u5831\u8868\u53ca\u88dc\u5145\u4e8b\u9805\uff08Financial Statements and Supplementary Data\uff09<\/strong><br \/>\n\u9019\u908a\u5c31\u6703\u653e\u4e09\u5927\u5831\u8868\uff08\u640d\u76ca\u8868\u3001\u8cc7\u7522\u8ca0\u50b5\u8868\u3001\u73fe\u91d1\u6d41\u91cf\u8868\uff09\u7684\u5730\u65b9\uff0c\u4e5f\u6703\u653e\u80a1\u6771\u6b0a\u76ca\u8868\u7b49\u5831\u8868\uff0c\u4ee5\u53ca\u91dd\u5c0d\u8ca1\u5831\u7684\u4e00\u4e9b\u8a3b\u89e3\uff0c\u8a31\u591a\u7d30\u7bc0\u5f80\u5f80\u5c31\u85cf\u5728\u9019\u4e9b\u8a3b\u89e3\u4e2d\u3002<\/p>\n<p><strong>\u9805\u76ee\u4e5d\uff08Item 9\uff09\uff1a\u6703\u8a08\u53ca\u8ca1\u52d9\u65b9\u9762\u8207\u6703\u8a08\u5e2b\u7684\u8b8a\u5316\u53ca\u722d\u8b70\uff08Changes in and Disagreements with Accountants on Accounting and Financial Disclosure\uff09<\/strong><br \/>\n\u5982\u679c\u516c\u53f8\u7684\u6703\u8a08\u5e2b\u5011\u767c\u751f\u8b8a\u5316\uff0c\u5247\u6703\u5728\u6b64\u8655\u5217\u51fa\u8a0e\u8ad6\u3002<\/p>\n<p><strong>\u9805\u76ee\u4e5d\u7d30\u9805A\uff08Item 9A\uff09\uff1a\u63a7\u5236\u8207\u7a0b\u5e8f\uff08Controls and Procedures\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u63ed\u9732\u8cc7\u8a0a\u7684\u904e\u7a0b\u3002<\/p>\n<p><strong>\u9805\u76ee\u4e5d\u7d30\u9805B\uff08Item 9B\uff09\uff1a\u5176\u4ed6\u8cc7\u8a0a\uff08Other Information\uff09<\/strong><br \/>\n\u5982\u679c\u6709\u5728\u8ca1\u653f\u5b63\u5ea6\u7b2c\u56db\u5b63\u5c1a\u672a\u63d0\u4ea4\u76848-K\u4e8b\u4ef6\uff0c\u5c31\u6703\u5217\u5728\u6b64\u8655\u3002<\/p>\n<h3>\u7b2c\u4e09\u90e8\u5206\uff08Part III\uff09<\/h3>\n<p><strong>\u9805\u76ee\u5341\uff08Item 10\uff09\uff1a\u8463\u4e8b\u3001\u57f7\u884c\u9577\u8207<a href=/index.html"https:\/\/\/what-is-corporate-governance\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u516c\u53f8\u6cbb\u7406<\/a>\uff08Directors, Executive Officers and Corporate Governance\uff09<\/strong><br \/>\n\u63cf\u8ff0\u8463\u4e8b\u548c\u57f7\u884c\u9577\u7684\u80cc\u666f\u548c\u7d93\u9a57\u3001\u516c\u53f8\u7684\u9053\u5fb7\u898f\u7bc4\u7b49\u7b49\u8cc7\u8a0a\u3002<\/p>\n<p><strong>\u9805\u76ee\u5341\u4e00\uff08Item 11\uff09\uff1a\u9ad8\u968e\u85aa\u916c\uff08Executive Compensation\uff09<\/strong><br \/>\n\u516c\u53f8\u7684\u85aa\u8cc7\u653f\u7b56\u53ca\u904e\u53bb\u4e00\u5e74\u9ad8\u968e\u4e3b\u7ba1\u7684\u85aa\u8cc7\u6703\u5217\u5728\u6b64\u8655\u3002<\/p>\n<p><strong>\u9805\u76ee\u5341\u4e8c\uff08Item 12\uff09\uff1a\u5be6\u8cea\u53d7\u76ca\u4eba\u3001\u7ba1\u7406\u968e\u5c64\u3001\u80a1\u6771\u7684\u8b49\u5238\u6240\u6709\u6b0a\u76f8\u95dc\u4e8b\u9805\uff08Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u8463\u4e8b\u3001\u7ba1\u7406\u968e\u5c64\u53ca\u5927\u80a1\u6771\u64c1\u6709\u7684\u80a1\u4efd\u53ca\u80a1\u7968\u916c\u52de\u8a08\u5283\u3002<\/p>\n<p><strong>\u9805\u76ee\u5341\u4e09\uff08Item 13\uff09\uff1a\u7279\u5b9a\u95dc\u4fc2\u3001\u76f8\u95dc\u4ea4\u6613\u53ca\u8463\u4e8b\u7684\u7368\u7acb\u6027\uff08Certain Relationships and Related Transactions, and Director Independence\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u8207\u8463\u4e8b\u3001\u9ad8\u968e\u53ca\u9ad8\u968e\u7684\u5bb6\u5c6c\u4e4b\u9593\u7684\u95dc\u4fc2\u53ca\u4ea4\u6613\u7b49\u76f8\u95dc\u8cc7\u8a0a\u3002<\/p>\n<p><strong>\u9805\u76ee\u5341\u56db\uff08Item 14\uff09\uff1a\u6703\u8a08\u5e2b\u7684\u8cbb\u7528\u53ca\u670d\u52d9\uff08Principal Accountant Fees and Services\uff09<\/strong><br \/>\n\u63cf\u8ff0\u516c\u53f8\u5728\u9019\u4e00\u5e74\u5167\u5411\u6703\u8a08\u5ba4\u4e8b\u52d9\u6240\u652f\u4ed8\u7684\u8cbb\u7528\u3002<\/p>\n<h3>\u7b2c\u56db\u90e8\u5206\uff08Part IV\uff09<\/h3>\n<p><strong>\u9805\u76ee\u5341\u4e94\uff08Item 15\uff09\uff1a\u9644\u4ef6\u53ca\u8ca1\u52d9\u5831\u8868\u9644\u8868\uff08Exhibits, Financial Statement Schedules\uff09<\/strong><br \/>\n\u5728\u6b64\u8655\u9700\u63d0\u4f9b\u820710-K\u8ca1\u5831\u76f8\u95dc\u9644\u4ef6\u3001\u91cd\u5927\u5408\u7d04\u526f\u672c\u3001\u516c\u53f8\u7ae0\u7a0b\u7b49\u7b49\u6587\u4ef6\u3002<\/p>\n<blockquote><p><strong>\u5e02\u5834\u5148\u751f\u63d0\u793a\uff1a<\/strong><\/p>\n<p>\u96d6\u713610-K\u7684\u9805\u76ee\u662f\u4e00\u6a23\u7684\uff0c\u4f46\u6bcf\u9593\u516c\u53f8\u5728\u540c\u4e00\u9805\u76ee\u4e0b\u9858\u610f\u63ed\u9732\u7684\u8cc7\u8a0a\u591a\u5be1\u4e26\u4e0d\u540c\uff0c\u4e0d\u5927\u53ef\u80fd\u6240\u6709\u7d30\u7bc0\u90fd\u5beb\u51fa\u4f86(\u7562\u7adf\u6709\u7af6\u722d\u5c0d\u624b\u5728\u770b)\u3002<\/p>\n<p>\u5c0d\u4e00\u822c\u6295\u8cc7\u4eba\u4f86\u8aaa\uff0c\u8d8a\u7a4d\u6975\u4e3b\u52d5\u63ed\u9732\u8cc7\u8a0a\u7684\u516c\u53f8\uff0c\u76f8\u5c0d\u6295\u8cc7\u8d77\u4f86\u4e5f\u6703\u8d8a\u5b89\u5fc3\u53ef\u9760\u3002<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"%E5%A6%82%E4%BD%95%E9%96%B1%E8%AE%8010-K%E5%A0%B1%E8%A1%A8%EF%BC%9F\"><\/span>\u5982\u4f55\u95b1\u8b8010-K\u5831\u8868\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u95b1\u8b80\u516c\u53f8\u5831\u8868\u6709\u5f88\u591a\u7a2e\u65b9\u5f0f\uff0c\u4e26\u4e0d\u662f\u6bcf\u4e00\u884c\u5b57\u90fd\u8981\u5b8c\u6574\u7d30\u770b(\u9664\u975e\u4f60\u82f1\u6587\u95b1\u8b80\u5f88\u6d41\u66a2)\u3002<\/p>\n<p>\u5982\u679c\u662f\u57fa\u91d1\u7d93\u7406\u4eba\u6216\u662f\u8ffd\u6c42\u8d85\u984d\u5831\u916c\u7684\u6295\u8cc7\u4eba\uff0c\u9664\u4e86\u4ed4\u7d30\u95b1\u8b8010-K\u4e4b\u5916\uff0c\u95b1\u8b80\u5b8c\u9084\u9700\u8981\u6709\u7368\u7279\u7684\u89c0\u9ede\uff0c\u624d\u6709\u53ef\u80fd\u5275\u9020\u8d85\u984d\u5831\u916c(\u6ce8\u610f\uff1a\u4e5f\u53ea\u662f\u6709\u53ef\u80fd\u800c\u5df2)\u3002<\/p>\n<p>\u5982\u679c\u4f60\u662f\u500b\u5c0d\u6295\u8cc7\u500b\u80a1\u6709\u9ede\u8208\u8da3\u7684\u521d\u5b78\u8005\u6216\u6295\u8cc7\u4eba\uff0c\u60f3\u57fa\u672c\u7684\u8a8d\u8b58\u516c\u53f8\u3001\u4e0d\u7279\u5225\u8ffd\u6c42\u8d85\u984d\u5831\u916c\uff0c\u90a3\u53ea\u9700\u8981\u5b9a\u671f\u95b1\u8b80\u516c\u53f8\u8ca1\u5831\uff0c\u78ba\u4fdd\u516c\u53f8\u6b63\u5e38\u71df\u904b\u5373\u53ef\uff0c<\/p>\n<p>\u672c\u7bc7\u5c07\u4ee5\u5f8c\u8005\u7684\u89d2\u5ea6\uff0c\u4e26\u4ee5\u860b\u679c\u516c\u53f8(AAPL)\u70ba\u6848\u4f8b\u9032\u884c\u4ecb\u7d39\u3002<\/p>\n<blockquote><p>\u5e02\u5834\u5148\u751f\u63d0\u793a\uff1a\u5728\u95b1\u8b80\u6642\uff0c\u6211\u5011\u4e5f\u6703\u642d\u914d\u5176\u4ed6\u8ca1\u7d93\u6578\u64da\u7db2\u7ad9(\u4f8b\u5982\uff1a\u6668\u661f<a href=/index.html"https:\/\/www.morningstar.com\/stocks\/xnas\/aapl\/financials\" target=\"_blank\" rel=\"nofollow noopener\" data-wpel-link=\"external\">Morningstar<\/a>\u6216<a href=/index.html"https:\/\/www.gurufocus.com\/stock\/AAPL\/summary\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">Gurufocus<\/a>)\uff0c\u65b9\u4fbf\u5feb\u901f\u5c0d\u6bd4\u516c\u53f8\u904e\u53bb\u6b77\u4f86\u7684\u6578\u64da\u3001\u8ca1\u52d9\u6bd4\u7387\uff0c\u6216\u8005\u548c\u7af6\u722d\u5c0d\u624b\u7684\u6578\u5b57\u505a\u5c0d\u6bd4\uff0c\u9019\u53ef\u4ee5\u5e6b\u52a9\u6211\u5011\u4e86\u89e3\u4e00\u4e9b\u6578\u64da\u8b8a\u52d5\u7684\u5408\u7406\u6027\uff0c\u6709\u52a9\u65bc\u6211\u5011\u572810-K\u5831\u8868\u4e2d\u53bb\u95dc\u6ce8\u8b8a\u52d5\u80cc\u5f8c\u7684\u539f\u56e0\uff0c\u4ee5\u4e0b\u4e5f\u6703\u793a\u7bc4\u3002<\/p><\/blockquote>\n<h3>1.\u521d\u6b65\u4e86\u89e3\u516c\u53f8<\/h3>\n<p>\u9996\u5148\uff0c\u6211\u5011\u8981\u95b1\u8b80\u9805\u76ee\u4e00\uff1a\u516c\u53f8\u696d\u52d9\uff08Business\uff09\u7684\u5167\u5bb9\u3002<\/p>\n<p>\u5728\u9019\u500b\u9805\u76ee\uff0c\u6211\u5011\u53ef\u4ee5\u77e5\u9053\u860b\u679c\u516c\u53f8\u662f\u4e00\u9593\u8a2d\u8a08\u3001\u88fd\u9020\u548c\u92b7\u552e\u667a\u6167\u578b\u624b\u6a5f\u3001\u500b\u4eba\u96fb\u8166\u3001\u5e73\u677f\u96fb\u8166\u3001\u7a7f\u6234\u5f0f\u88dd\u7f6e\u548c\u914d\u4ef6\uff0c\u53ca\u5404\u7a2e\u76f8\u95dc\u670d\u52d9\u7684\u516c\u53f8\u3001\u5efa\u7acb\u65bc1977\u5e74\u3001\u7522\u54c1\u6709iPhone\u3001Mac\u3001iPad\u3001AirPods\u3001Apple TV&#8230;\u7b49\u7b49\u3002<\/p>\n<p>\u9664\u4e0b\u5716\u7684\u8cc7\u8a0a\u4e4b\u5916\uff0c\u860b\u679c\u572810-K\u7684\u6b64\u5340\u584a\u9084\u6709\u63d0\u4f9b\u5e02\u5834\u72c0\u6cc1\u3001\u7af6\u722d\u5c0d\u624b&#8230;\u7b49\u8cc7\u8a0a\uff0c\u90fd\u53ef\u4ee5\u5e6b\u52a9\u6211\u5011\u5c0d\u300c\u9019\u9593\u662f\u4ec0\u9ebc\u6a23\u7684\u516c\u53f8\u300d\u9019\u500b\u554f\u984c\u6709\u4e00\u500b\u521d\u6b65\u7684\u7b54\u6848\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24702\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820120342_27.jpeg\" alt=\"10k\u5831\u8868\u516c\u53f8\u71df\u904b\u6b04\u4f4d\" width=\"1100\" height=\"1806\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820120342_27.jpeg 1100w, https:\/\/\/wp-content\/uploads\/20210820120342_27-936x1536.jpeg 936w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<p>\u5982\u679c\u95b1\u8b80\u5b8c\u6b64\u9805\u76ee\uff0c\u5c0d\u9019\u9593\u516c\u53f8\u6c92\u6709\u6295\u8cc7\u610f\u9858\uff0c\u6216\u662f\u89ba\u5f97\u9019\u9593\u516c\u53f8\u7684\u696d\u52d9\u6c92\u6709\u767c\u5c55\u6f5b\u80fd\uff0c\u53ef\u8003\u616e\u5c31\u5728\u6b64\u505c\u4f4f\uff0c\u518d\u53e6\u5916\u627e\u516c\u53f8\u7814\u7a76\u3002<\/p>\n<h3>2. \u4e86\u89e3\u516c\u53f8\u7ba1\u7406\u968e\u5c64\u7684\u89c0\u9ede<\/h3>\n<p>\u73fe\u5728\uff0c\u6211\u5011\u5df2\u7d93\u5c0d\u9019\u9593\u516c\u53f8\u6709\u57fa\u672c\u4e86\u89e3\uff0c\u63a5\u4e0b\u4f86\u8981\u9032\u884c\u4e0b\u4e00\u6b65\uff1a\u95b1\u8b80\u9805\u76ee\u4e03\uff08Item 7\uff09\uff1a\u7ba1\u7406\u968e\u5c64\u5c0d\u8ca1\u52d9\u72c0\u6cc1\u548c\u7d93\u71df\u6210\u679c\u7684\u8a0e\u8ad6\u548c\u5206\u6790\uff08MD&amp;A\uff09\u3002<\/p>\n<p>\u9019\u500b\u9805\u76ee\u53ef\u4ee5\u5e6b\u52a9\u6211\u5011\u4e86\u89e3\u7ba1\u7406\u968e\u5c64\u5c0d\u516c\u53f8\u76ee\u524d\u71df\u904b\u8868\u73fe\u7684\u770b\u6cd5\u3001\u672a\u4f86\u8a08\u756b&#8230;\u7b49\u7b49\u9032\u4e00\u6b65\u7684\u8cc7\u8a0a\u3002<\/p>\n<p>\u4ee5\u4e0b\u5716\u70ba\u4f8b\uff0c\u6b64\u70ba\u9019\u500b\u9805\u76ee\u5176\u4e2d\u4e00\u90e8\u5206\uff0c\u8aaa\u660e\u7522\u54c1\u53ca\u670d\u52d9\u8868\u73fe\uff1a<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24703\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820120453_35.jpeg\" alt=\"10k\u5831\u8868MD&amp;A\u6b04\u4f4d\" width=\"1100\" height=\"1806\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820120453_35.jpeg 1100w, https:\/\/\/wp-content\/uploads\/20210820120453_35-936x1536.jpeg 936w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<p>\u770b\u5b8c\u4e0a\u8868\uff0c\u518d\u7d93\u7531\u4e0b\u5716MD&amp;A\u5340\u584a\u7684\u8aaa\u660e\uff0c\u6211\u5011\u53ef\u4ee5\u77e5\u9053\uff1a<\/p>\n<p>1. iPhone \u57282020\u5e74\u7684\u92b7\u552e\u76f8\u5c0d2019\u4e0b\u6ed1\u4e863%\uff0c\u662f\u56e0\u70ba2020\u5e74\u7b2c\u56db\u5b63\u6c92\u6709\u63a8\u51fa\u65b0\u7684\u6a5f\u578b\u3001\u5916\u5e63\u53c8\u8d70\u5f31\u7684\u7de3\u6545\u3002<br \/>\n2. Mac\u76f8\u5c0d2019\u6210\u9577\u4e8611%\uff0c\u662f\u56e0\u70baMacBook\u8ce3\u5f97\u5f88\u597d\u3002<br \/>\n3. iPad\u76f8\u5c0d2019\u4e5f\u6210\u9577\u4e8611%\uff0c\u662f\u56e0\u70ba10\u5bf8\u7684\u6a5f\u578b\u53caiPad Air\u3001iPad Pro\u8ce3\u5f97\u5f88\u597d\u3002<br \/>\n4. \u7a7f\u6234\u5f0f\u88dd\u98fe\u53ca\u914d\u4ef6\u76f8\u5c0d2019\u6709\u986f\u8457\u6210\u9577\uff0825%\uff09\uff0c\u662f\u56e0\u70baAirPods \u548c Apple Watch\u8ce3\u5f97\u7279\u5225\u597d\u3002<br \/>\n5. \u5728\u670d\u52d9\u9762\u4e5f\u589e\u52a0\u4e8616%\uff0c\u662f\u4f86\u81eaApp Store\u3001\u5ee3\u544a\u6536\u5165\u53ca\u96f2\u7aef\u670d\u52d9\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24704\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820120626_13.jpg\" alt=\"10k\u5831\u8868MD&amp;A\u6b04\u4f4d\" width=\"1100\" height=\"1445\" \/><\/p>\n<h3>3. \u6df1\u5165\u4e86\u89e3\u516c\u53f8\u8ca1\u52d9\u5831\u8868<\/h3>\n<p>\u6211\u5011\u5df2\u7d93\u77e5\u9053\u516c\u53f8\u67d0\u4e9b\u91cd\u8981\u7684\u6578\u64da\u3001\u53ca\u7ba1\u7406\u968e\u5c64\u5c0d\u9019\u4e9b\u6578\u64da\u7684\u8aaa\u660e\uff0c\u73fe\u5728\u6211\u5011\u8981\u66f4\u6df1\u5165\u53bb\u4e86\u89e3\u516c\u53f8\u7684\u8ca1\u52d9\u72c0\u6cc1\uff0c\u5373\u662f\u9805\u76ee\u516b\uff08Item 8\uff09\uff1a\u8ca1\u52d9\u5831\u8868\u53ca\u88dc\u5145\u4e8b\u9805\uff08Financial Statements and Supplementary Data\uff09\u3002<\/p>\n<p>\u4ee5\u4e0b\u5c07\u4ee5\u65b0\u624b\u8f03\u9069\u5408\u5165\u9580\u7684\u4e09\u5927\u5831\u8868\u70ba\u4f8b\uff0c\u4e26\u628a\u6578\u64da\u5316\u70ba\u8ca1\u52d9\u6bd4\u7387\u3002<\/p>\n<blockquote><p>\u88dc\u5145\uff1a\u8ca1\u52d9\u6bd4\u7387\u975e\u5e38\u591a\uff0c\u6bcf\u9593\u516c\u53f8\u9700\u6ce8\u91cd\u7684\u8ca1\u52d9\u6bd4\u7387\u4e5f\u4e0d\u540c\uff0c\u4ee5\u4e0b\u5c07\u91dd\u5c0d\u8f03\u5e38\u898b\u7684\u8ca1\u52d9\u6bd4\u7387\u9032\u884c\u4ecb\u7d39\uff0c\u6295\u8cc7\u4eba\u53ef\u8996\u6bcf\u9593\u516c\u53f8\u7684\u60c5\u6cc1\u518d\u9032\u4e00\u6b65\u505a\u66f4\u6df1\u5165\u7684\u7814\u7a76\u3002<\/p><\/blockquote>\n<h4>\u4e09\u5927\u5831\u8868\u4e4b\u4e00\uff1a\u5408\u4f75\u71df\u904b\u5831\u8868(Consolidated statements of operations)<\/h4>\n<p>\u5408\u4f75\u71df\u696d\u5831\u8868\u4e5f\u7a31\u4f5c\u640d\u76ca\u8868\uff08income statements\uff09\uff0c\u7d00\u9304\u516c\u53f8\u4e00\u5e74\u4ee5\u4f86\u8cfa\u4e86\u6216\u8ce0\u4e86\u591a\u5c11\u9322\uff0c\u6211\u5011\u4e3b\u8981\u770b\u7684\u8ca1\u52d9\u6bd4\u7387\u6709\uff1a<\/p>\n<ul>\n<li>\u6bdb\u5229\u7387\uff08Gross margin\uff09<\/li>\n<li>\u71df\u696d\u5229\u76ca\u7387\uff08Operating Margin\u6216Operating profit Margin\uff09<\/li>\n<li>\u6bcf\u80a1\u76c8\u9918\uff08Earning per share\uff09<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24705\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820120909_91.jpeg\" alt=\"apple 10k\u4e00\u90e8\u5206\u640d\u76ca\u8868\" width=\"1100\" height=\"1806\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820120909_91.jpeg 1100w, https:\/\/\/wp-content\/uploads\/20210820120909_91-936x1536.jpeg 936w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24706\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820121011_26.jpg\" alt=\"apple 10k\u4e00\u90e8\u5206\u640d\u76ca\u8868\" width=\"1100\" height=\"984\" \/><\/p>\n<p>1.<a href=/index.html"https:\/\/\/1-profit-margin\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u6bdb\u5229\u7387\uff08Gross margin\uff09<\/a><\/p>\n<ul>\n<li>\u6bdb\u5229\u7387 \uff1d\uff08\u71df\u696d\u6536\u5165\uff0d\u71df\u696d\u6210\u672c\uff09\uff0f\u71df\u696d\u6536\u5165 x 100% = 104,956 \/ 274,515 x 100% = 38.2%<\/li>\n<\/ul>\n<p>\u7b97\u51fa\u4f86\u4e4b\u5f8c\u8207\u53bb\u5e74\u3001\u524d\u5e74\u6bd4\u8f03\u770b\u770b\uff0c\u5982\u679c\u5dee\u592a\u591a\u5c31\u9700\u66f4\u6df1\u5165\u4e86\u89e3\uff0c\u53ef\u80fd\u518d\u770b\u770bMD&amp;A\u6709\u6c92\u6709\u89e3\u91cb\uff1f\u6216\u662f\u5728\u8ca1\u5831\u8a3b\u8173\uff08Notes to Consolidated Financial Statements\uff09\u6709\u6c92\u6709\u8aaa\u660e\uff1f\u4ee5\u860b\u679c\u516c\u53f8\u7684\u6848\u4f8b\u4f86\u770b\uff0c\u53bb\u5e74\u53ca\u524d\u5e74\u5206\u5225\u70ba37.8%\u53ca38.3%\uff0c\u4e26\u6c92\u6709\u5dee\u592a\u591a\u3002<\/p>\n<p>2.<a href=/index.html"https:\/\/\/1-operating-profit-margin\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u71df\u696d\u5229\u76ca\u7387\uff08Operating Margin\u6216Operating profit Margin\uff09<\/a><\/p>\n<ul>\n<li>\u71df\u696d\u5229\u76ca = \u71df\u696d\u6536\u5165 &#8211; \u71df\u696d\u6210\u672c &#8211; \u71df\u696d\u8cbb\u7528 = 66,288\uff0c\u9019\u500b\u6578\u5b57\u5c31\u662f274,515 &#8211; 169,559 &#8211; 38,668 \u4f86\u7684\uff0c\u8ca1\u5831\u4e0a\u5df2\u7d93\u5e6b\u6211\u5011\u7b97\u597d\u4e86\u3002<\/li>\n<li>\u71df\u696d\u5229\u76ca\u7387 = \u71df\u696d\u5229\u76ca \/ \u71df\u696d\u6536\u5165 \u00a0x 100% = 66,288 \/ 274,515 x 100% = 24.1%<\/li>\n<\/ul>\n<p>\u53bb\u5e74\u662f24.6%\u3001\u524d\u5e74\u662f26.7%\uff0c\u71df\u696d\u5229\u76ca\u7387\u662f\u9010\u6f38\u905e\u6e1b\u7684\uff0c\u9019\u6642\u5c31\u53ef\u4ee5\u53bb\u770bMD&amp;A\u6216\u8ca1\u5831\u8a3b\u8173\u662f\u5426\u6709\u8aaa\u660e\uff0c\u5f9e\u4e0b\u5716\u53ef\u4ee5\u770b\u5230\uff0c\u5728MD&amp;A\u7684\u8aaa\u660e\u70ba\u54e1\u5de5\u4eba\u6578\u53ca\u884c\u92b7\/\u5ee3\u544a\u7b49\u8cbb\u7528\u589e\u52a0\uff0c\u5c0e\u81f4\u71df\u696d\u8cbb\u7528\u4e0a\u5347\uff0c\u6211\u5011\u4e5f\u53ef\u4ee5\u5728\u8ca1\u5831\u8a3b\u8173\u7684\u90e8\u5206\u770b\u5230\u5206\u5340\u7684\u72c0\u6cc1\uff0c\u53ef\u9032\u884c\u66f4\u9032\u4e00\u6b65\u7684\u7814\u7a76\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24708\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820121322_58.jpeg\" alt=\"apple 10k\u71df\u696d\u8cbb\u7528\u8aaa\u660e\u4e8c\" width=\"1100\" height=\"1806\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820121322_58.jpeg 1100w, https:\/\/\/wp-content\/uploads\/20210820121322_58-936x1536.jpeg 936w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24707\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820121113_15.jpeg\" alt=\"apple 10k\u71df\u696d\u8cbb\u7528\u8aaa\u660e\" width=\"1100\" height=\"1806\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820121113_15.jpeg 1100w, https:\/\/\/wp-content\/uploads\/20210820121113_15-936x1536.jpeg 936w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<p>3.<a href=/index.html"https:\/\/\/what-is-eps\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u6bcf\u80a1\u76c8\u9918\uff08Earnings Per Share\uff0c\u7c21\u7a31EPS\uff09<\/a><\/p>\n<ul>\n<li>\u6bcf\u80a1\u76c8\u9918 = \u672c\u671f\u7a05\u5f8c\u6de8\u5229 \/ \u666e\u901a\u80a1\u5728\u5916\u6d41\u901a\u80a1\u6578 = 3.31\uff0c\u8ca1\u5831\u4e0a\u5df2\u7d93\u5e6b\u6211\u5011\u7b97\u597d\u4e86\u3002<\/li>\n<\/ul>\n<p>\u4e00\u822c\u4f86\u8aaa\uff0cEPS\u8d8a\u9ad8\u7684\u516c\u53f8\uff0c\u5c31\u4ee3\u8868\u6bcf1\u80a1\u8cfa\u66f4\u591a\u9322\uff0c\u80a1\u50f9\u4e5f\u5c31\u8d8a\u9ad8\uff0c\u4ee5\u860b\u679c\u516c\u53f8\u4f86\u8aaa\uff0cEPS\u7684\u78ba\u6709\u9010\u6f38\u6210\u9577\u7684\u8da8\u52e2\uff0c\u5728\u8ca1\u5831\u8a3b\u89e3\u8655\u53ef\u4ee5\u66f4\u9032\u4e00\u6b65\u770b\u52302020\u5e74\u82072019\u5e74\u6bcf\u5b63\u7684EPS\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24709\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820121420_69.jpeg\" alt=\"apple 10k \u6bcf\u5b63EPS\" width=\"1100\" height=\"1806\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820121420_69.jpeg 1100w, https:\/\/\/wp-content\/uploads\/20210820121420_69-936x1536.jpeg 936w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<p>\u63d0\u9192\uff1a\u4e0d\u80fd\u53ea\u6bd4\u8f03\u4e0d\u540c\u516c\u53f8\u7684EPS\u5c31\u6c7a\u5b9a\u516c\u53f8\u597d\u58de\uff0c\u8acb\u53c3\u8003<a href=/index.html"https:\/\/\/what-is-eps\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">EPS\u662f\u4ec0\u9ebc\uff1f\u6bcf\u80a1\u76c8\u9918EPS\u9ad8\u4f4e\u4ee3\u8868\u4ec0\u9ebc\u610f\u7fa9<\/a>\u4e86\u89e3\u66f4\u591a\u3002<\/p>\n<h4>\u4e09\u5927\u5831\u8868\u4e4b\u4e8c\uff1a\u8cc7\u7522\u8ca0\u50b5\u8868(Consolidated Balance Sheet)<\/h4>\n<p>\u8cc7\u7522\u8ca0\u50b5\u8868\u53ef\u4ee5\u544a\u8a34\u6211\u5011\uff0c\u516c\u53f8\u5728\u67d0\u4e00\u500b\u6642\u9593\u9ede\u7684\u8cc7\u7522\u6709\u54ea\u4e9b\u53ca\u8cc7\u91d1\u7684\u4f86\u6e90\u3002<\/p>\n<p>\u6211\u5011\u4e3b\u8981\u770b\u7684\u8ca1\u52d9\u6bd4\u7387\u6709\uff1a<\/p>\n<ul>\n<li>\u61c9\u6536\u5e33\u6b3e\u9031\u8f49\u5929\u6578<\/li>\n<li>\u5b58\u8ca8\u5468\u8f49\u5929\u6578<\/li>\n<li>\u8cc7\u7522\u5831\u916c\u7387<\/li>\n<li>\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387<\/li>\n<li>\u6d41\u52d5\u6bd4\u7387\/\u901f\u52d5\u6bd4\u7387<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24711\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820121736_77.jpg\" alt=\"apple 10k \u8cc7\u7522\u8ca0\u50b5\u8868-\u8cc7\u7522\" width=\"1100\" height=\"1445\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24712\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820121816_77.jpeg\" alt=\"apple 10k \u8cc7\u7522\u8ca0\u50b5\u8868-\u8ca0\u50b5\u53ca\u80a1\u6771\u6b0a\u76ca\" width=\"1100\" height=\"1806\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820121816_77.jpeg 1100w, https:\/\/\/wp-content\/uploads\/20210820121816_77-936x1536.jpeg 936w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<p>\u4e4d\u770b\u4e4b\u4e0b\u597d\u50cf\u6709\u5f88\u591a\u9700\u8981\u8a08\u7b97\u7684\u90e8\u5206\uff0c\u597d\u6d88\u606f\u662f\uff0c\u5176\u5be6\u5225\u4eba\u5df2\u7d93\u5e6b\u6211\u5011\u7b97\u597d\u4e86\uff0c\u4ee5\u4e0b\u5c07\u53c3\u8003<a href=/index.html"https:\/\/www.morningstar.com\/stocks\/xnas\/aapl\/valuation\" target=\"_blank\" rel=\"nofollow noopener\" data-wpel-link=\"external\">Morningstar<\/a>\u8207<a href=/index.html"https:\/\/www.gurufocus.com\/stock\/AAPL\/summary\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">gurufocus<\/a>\u6578\u64da\u9032\u884c\u5206\u6790\uff0c\u4e26\u8207\u4e09\u661f\u516c\u53f8\uff08Samsung\uff09\u9032\u884c\u6bd4\u8f03\u3002<\/p>\n<p>1.<a href=/index.html"https:\/\/\/receivables-turnover-ratio\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u61c9\u6536\u5e33\u6b3e\u9031\u8f49\u5929\u6578<\/a>\uff08Days Sales Outstanding , DSO\uff09<\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">\u61c9\u6536\u5e33\u6b3e\u9031\u8f49\u5929\u6578 = 365\u5929 \/ \u61c9\u6536\u5e33\u6b3e\u5468\u8f49\u7387(\u55ae\u4f4d:\u5929\/\u5e74)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">\u61c9\u6536\u5e33\u6b3e\u5468\u8f49\u7387 = \u71df\u696d\u6536\u5165 \/ \u5e73\u5747\u61c9\u6536\u8cec\u6b3e (\u55ae\u4f4d:\u6b21\/\u5e74)<\/span><\/li>\n<\/ul>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" colspan=\"3\">\u860b\u679c\u8207\u4e09\u661f\u61c9\u6536\u5e33\u6b3e\u9031\u8f49\u5929\u6578\u6bd4\u8f03<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">\u5e74\u4efd<\/td>\n<td style=\"text-align: center;\">\u860b\u679c<\/td>\n<td style=\"text-align: center;\">\u4e09\u661f<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2018<\/td>\n<td style=\"text-align: center;\">28.21\u5929<\/td>\n<td style=\"text-align: center;\">46.85\u5929<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2019<\/td>\n<td style=\"text-align: center;\">32.35\u5929<\/td>\n<td style=\"text-align: center;\">55.90\u5929<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2020<\/td>\n<td style=\"text-align: center;\">25.96\u5929<\/td>\n<td style=\"text-align: center;\">49.07\u5929<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;\" colspan=\"3\">\u8cc7\u6599\u4f86\u6e90\uff1aMorningstar \/ gurufocus\u00a0\u00a0 \u00a0\u8cc7\u6599\u6574\u7406\uff1a<a href=/index.html"https:\/\/\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">Mr.Market\u5e02\u5834\u5148\u751f<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">\u4ee5\u4e0a\u6211\u5011\u53ef\u4ee5\u77e5\u9053\uff0c\u8fd1\u4e09\u5e74\u860b\u679c\u516c\u53f8\u6709\u8f03\u5f37\u7684\u6536\u6b3e\u80fd\u529b\uff0c\u5f9e\u860b\u679c\u516c\u53f8\u7684\u8ca1\u5831\u8a3b\u8173\u53ef\u4ee5\u9032\u4e00\u6b65\u77e5\u9053\uff0c\u65bc2019~2020\u5e749\u6708\u9019\u6bb5\u671f\u9593\uff0c\u6c92\u6709\u4f54\u7e3d\u61c9\u6536\u5e33\u6b3e\u8d85\u904e10%\u6216\u4ee5\u4e0a\u7684\u5ba2\u6236\u3002<\/span><\/p>\n<p><span style=\"color: #ff0000;\"><img decoding=\"async\" class=\"alignnone size-full wp-image-24713\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820121905_87.jpg\" alt=\"apple 10k \u61c9\u6536\u5e33\u6b3e\u8aaa\u660e\" width=\"1100\" height=\"1195\" \/><\/span><\/p>\n<p>2.<a href=/index.html"https:\/\/\/what-is-inventory-turnover\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u5b58\u8ca8\u5468\u8f49\u5929\u6578<\/a>\uff08Days Inventory\uff09<\/p>\n<ul>\n<li>\u5b58\u8ca8\u5468\u8f49\u7387 (\u6b21\/\u5e74) = \u71df\u696d\u6210\u672c \u00f7 \u5e73\u5747\u5b58\u8ca8<\/li>\n<li>\u5b58\u8ca8\u5468\u8f49\u5929\u6578 =\u00a0365\u5929 \u00f7 \u5b58\u8ca8\u5468\u8f49\u7387<\/li>\n<\/ul>\n<table style=\"width: 100%; border-collapse: collapse;\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" colspan=\"3\">\u860b\u679c\u8207\u4e09\u661f\u5b58\u8ca8\u5468\u8f49\u5929\u6578\u6bd4\u8f03<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">\u5e74\u4efd<\/td>\n<td style=\"text-align: center;\">\u860b\u679c<\/td>\n<td style=\"text-align: center;\">\u4e09\u661f<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2018<\/td>\n<td style=\"text-align: center;\">9.82\u5929<\/td>\n<td style=\"text-align: center;\">75.65\u5929<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2019<\/td>\n<td style=\"text-align: center;\">9.09\u5929<\/td>\n<td style=\"text-align: center;\">70.78\u5929<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2020<\/td>\n<td style=\"text-align: center;\">8.79\u5929<\/td>\n<td style=\"text-align: center;\">71.95\u5929<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;\" colspan=\"3\">\u8cc7\u6599\u4f86\u6e90\uff1aMorningstar \/ gurufocus\u00a0 \u00a0\u8cc7\u6599\u6574\u7406\uff1a<a href=/index.html"https:\/\/\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">Mr.Market\u5e02\u5834\u5148\u751f<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u6839\u64daMorningstar\u7db2\u7ad9\uff0c\u860b\u679c\u516c\u53f8\u5927\u6982\u82b18~9\u5929\u5de6\u53f3\u7684\u6642\u9593\u5c31\u6703\u628a\u5b58\u8ca8\u8ce3\u5149\uff0c\u7af6\u722d\u5c0d\u624b<span style=\"font-weight: 400;\"><a href=/index.html"https:\/\/www.gurufocus.com\/term\/DaysInventory\/GREY:SSNLF\/\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">Samsung<\/a>\u5247<\/span>\u9700\u8981\u8f03\u9577\u7684\u6642\u9593\u3002<\/p>\n<p>3.<a href=/index.html"https:\/\/\/what-is-roa\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u8cc7\u7522\u5831\u916c\u7387<\/a>\uff08Return on Assets\uff0c\u7c21\u7a31ROA\uff09<\/p>\n<ul>\n<li>\u8cc7\u7522\u5831\u916c\u7387(ROA) = \u7a05\u5f8c\u6de8\u5229(Net Income)\u00f7 \u5e73\u5747\u7e3d\u8cc7\u7522(Total Asset) \u00d7 100% \u6216\u662f (\u7a05\u5f8c\u6de8\u5229+ \u5229\u606f\u00d7[1-\u7a05\u7387])\u3000\u00f7 \u5e73\u5747\u7e3d\u8cc7\u7522 \u00d7 100%\u3002<\/li>\n<\/ul>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" colspan=\"3\">\u860b\u679c\u8207\u4e09\u661f\u8cc7\u7522\u5831\u916c\u7387\u6bd4\u8f03<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">\u5e74\u4efd<\/td>\n<td style=\"text-align: center;\">\u860b\u679c<\/td>\n<td style=\"text-align: center;\">\u4e09\u661f<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2018<\/td>\n<td style=\"text-align: center;\">17.33%<\/td>\n<td style=\"text-align: center;\">13.46%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2019<\/td>\n<td style=\"text-align: center;\">15.69%<\/td>\n<td style=\"text-align: center;\">6.08%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2020<\/td>\n<td style=\"text-align: center;\">16.07%<\/td>\n<td style=\"text-align: center;\">7.39%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;\" colspan=\"3\">\u8cc7\u6599\u4f86\u6e90\uff1aMorningstar \/ gurufocus\u00a0\u00a0 \u8cc7\u6599\u6574\u7406\uff1a<a href=/index.html"https:\/\/\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">Mr.Market\u5e02\u5834\u5148\u751f<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u76f8\u6bd4\u4e4b\u4e0b\u6211\u5011\u53ef\u4ee5\u77e5\u9053\uff0c\u860b\u679c\u516c\u53f8\u6709\u8f03\u9ad8\u7684\u8b70\u50f9\u80fd\u529b\uff08\u7522\u54c1\u8ce3\u7684\u6bd4\u8f03\u8cb4\uff09\u3001\u6216\u662f\u8f03\u9ad8\u7684\u8cc7\u7522\u9031\u8f49\u7387\uff08\u5b58\u8ca8\u8ce3\u7684\u6bd4\u8f03\u5feb\uff09\u3002<\/p>\n<p>4.<a href=/index.html"https:\/\/\/what-is-roe\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387<\/a>\uff08Return on Equity\uff0c\u7c21\u7a31ROE\uff09<\/p>\n<p>\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387(ROE) = <span style=\"font-weight: 400;\">\u7a05\u5f8c\u6de8\u5229\uff08Net Income\uff09\/ \u80a1\u6771\u6b0a\u76ca \u00d7 100%<\/span><\/p>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" colspan=\"3\">\u860b\u679c\u8207\u4e09\u661f\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387\u6bd4\u8f03<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">\u5e74\u4efd<\/td>\n<td style=\"text-align: center;\">\u860b\u679c<\/td>\n<td style=\"text-align: center;\">\u4e09\u661f<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2018<\/td>\n<td style=\"text-align: center;\">49.36%<\/td>\n<td style=\"text-align: center;\">19.30%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2019<\/td>\n<td style=\"text-align: center;\">55.92%<\/td>\n<td style=\"text-align: center;\">8.50%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2020<\/td>\n<td style=\"text-align: center;\">73.69%<\/td>\n<td style=\"text-align: center;\">10.33%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;\" colspan=\"3\">\u8cc7\u6599\u4f86\u6e90\uff1aMorningstar \/ gurufocus\u00a0 \u00a0\u8cc7\u6599\u6574\u7406\uff1a<a href=/index.html"https:\/\/\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">Mr.Market\u5e02\u5834\u5148\u751f<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387\u4ee3\u8868\u7684\u662f\u516c\u53f8\u7528\u80a1\u6771\u7684\u9322\u53bb\u5275\u9020\u5831\u916c\u7684\u80fd\u529b\uff0c\u860b\u679c\u516c\u53f8\u7684\u7372\u5229\u7a0b\u5ea6\u986f\u7136\u662f\u6bd4\u8f03\u9ad8\u7684\uff0c\u8ddf\u81ea\u5df1\u4ee5\u524d\u76f8\u6bd4\u4e5f\u6709\u589e\u52a0\u7684\u8da8\u52e2\u3002<\/p>\n<p>5.<a href=/index.html"https:\/\/\/1-current-ratio-quick-ratio\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">\u6d41\u52d5\u6bd4\u7387(Current Ratio)\/\u901f\u52d5\u6bd4\u7387(Quick Ratio)<\/span><\/a><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">\u6d41\u52d5\u6bd4\u7387 = \u6d41\u52d5\u8cc7\u7522 \/ \u6d41\u52d5\u8ca0\u50b5<\/span><\/li>\n<li><span style=\"font-weight: 400;\">\u901f\u52d5\u6bd4\u7387 = \u6d41\u52d5\u8cc7\u7522 &#8211; \u5b58\u8ca8 \/ \u6d41\u52d5\u8ca0\u50b5<\/span><\/li>\n<\/ul>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"text-align: center; width: 19.9782%;\" colspan=\"5\">\u860b\u679c\u8207\u4e09\u661f<span style=\"font-weight: 400;\">\u6d41\u52d5\u6bd4\u7387\/\u901f\u52d5\u6bd4\u7387<\/span>\u6bd4\u8f03<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center; width: 19.9782%;\"><\/td>\n<td style=\"text-align: center;\" colspan=\"2\">\u860b\u679c<\/td>\n<td style=\"text-align: center;\" colspan=\"2\">\u4e09\u661f<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center; width: 19.9782%;\">\u5e74\u4efd<\/td>\n<td style=\"width: 20%; text-align: center;\">\u6d41\u52d5\u6bd4\u7387<\/td>\n<td style=\"width: 20%; text-align: center;\">\u901f\u52d5\u6bd4\u7387<\/td>\n<td style=\"width: 20%; text-align: center;\">\u6d41\u52d5\u6bd4\u7387<\/td>\n<td style=\"width: 20%; text-align: center;\">\u901f\u52d5\u6bd4\u7387<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center; width: 19.9782%;\">2018<\/td>\n<td style=\"width: 20%; text-align: center;\">1.12<\/td>\n<td style=\"width: 20%; text-align: center;\">0.99<\/td>\n<td style=\"width: 20%; text-align: center;\">2.53<\/td>\n<td style=\"width: 20%; text-align: center;\">2.11<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center; width: 19.9782%;\">2019<\/td>\n<td style=\"width: 20%; text-align: center;\">1.54<\/td>\n<td style=\"width: 20%; text-align: center;\">1.38<\/td>\n<td style=\"width: 20%; text-align: center;\">2.84<\/td>\n<td style=\"width: 20%; text-align: center;\">2.42<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center; width: 19.9782%;\">2020<\/td>\n<td style=\"width: 20%; text-align: center;\">1.36<\/td>\n<td style=\"width: 20%; text-align: center;\">1.22<\/td>\n<td style=\"width: 20%; text-align: center;\">2.62<\/td>\n<td style=\"width: 20%; text-align: center;\">2.20<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 19.9782%; text-align: right;\" colspan=\"5\">\u8cc7\u6599\u4f86\u6e90\uff1aMorningstar \/ gurufocus\u00a0 \u00a0\u8cc7\u6599\u6574\u7406\uff1a<a href=/index.html"https:\/\/\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">Mr.Market\u5e02\u5834\u5148\u751f<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u6d41\u52d5\u6bd4\u7387\u8d8a\u9ad8\uff0c\u8868\u793a\u77ed\u671f\u5728\u9084\u50b5\u4e0a\u8d8a\u6c92\u6709\u58d3\u529b\uff0c\u4e00\u822c\u4f86\u8aaa\uff0c\u6d41\u52d5\u6bd4\u7387\u8d85\u904e2\u3001\u901f\u52d5\u6bd4\u7387\u8d85\u904e1\u5c31\u4e0d\u7528\u592a\u64d4\u5fc3\uff0c\u800c\u860b\u679c\u7684\u6d41\u52d5\u6bd4\u7387\u8fd1\u4e09\u5e74\u90fd\u6c92\u6709\u8d85\u904e2\uff0c\u6211\u5011\u53ef\u4ee5\u5f9e\u4e0a\u8ff0\u5b58\u8ca8\u53ca\u61c9\u6536\u9031\u8f49\u77e5\u9053\uff0c\u53ef\u80fd\u662f\u860b\u679c\u9031\u8f49\u5feb\u5c0e\u81f4\u6d41\u52d5\u6bd4\u7387\u8f03\u4f4e\uff0c\u9019\u6642\uff0c\u6211\u5011\u9700\u8981\u770b\u66f4\u4fdd\u5b88\u8a08\u7b97\u7684\u901f\u52d5\u6bd4\u7387\uff0c\u860b\u679c\u516c\u53f8\u7684\u78ba\u7dad\u6301\u57281\u4ee5\u4e0a\u3002<\/p>\n<h4>\u4e09\u5927\u5831\u8868\u4e4b\u4e09\uff1a\u73fe\u91d1\u6d41\u91cf\u8868(Consolidated Statement of Cash Flows)<\/h4>\n<p>\u640d\u76ca\u8868\u53ca\u8cc7\u7522\u8ca0\u50b5\u8868\u63a1\u61c9\u8a08\u539f\u5247\uff08\u4e8b\u60c5\u767c\u751f\uff0c\u4e0d\u8ad6\u73fe\u91d1\u6709\u7121\u9032\u51fa\u5373\u8a8d\u5217\uff09\uff0c\u73fe\u91d1\u6d41\u91cf\u8868\u5247\u662f\u7d00\u9304\u73fe\u91d1\u5be6\u969b\u9032\u51fa\u7684\u5831\u8868\u3002\u6211\u5011\u5c07\u4ee5\u73fe\u91d1\u6d41\u91cf\u8868\u7684\u4e09\u500b\u5340\u57df\uff08\u71df\u696d\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u3001\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u3001\u878d\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\uff09\u505a\u5206\u6790\u3002<\/p>\n<p>1.<a href=/index.html"https:\/\/\/what-operating-cash-flow\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u71df\u696d\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf<\/a>\u6210\u9577\u7387<\/p>\n<p>\u7528\u6de8\u5229\uff08Net income\uff09 &#8211; \u516c\u53f8\u4e00\u5e74\u4e2d\u56e0\u71df\u696d\u6d3b\u52d5\u7522\u751f\u7684\u73fe\u91d1\u6d41\u51fa\u6d41\u5165\u5f8c\uff0c\u5c31\u6703\u5f97\u5831\u8868\u4e0a\u7684\u71df\u696d\u6d3b\u52d5\u6de8\u73fe\u91d1\u6d41\uff08Cash generated by operating activities\uff09\u3002<\/p>\n<p>\u8eab\u70ba\u6295\u8cc7\u4eba\uff0c\u7576\u7136\u662f\u5e0c\u671b\u516c\u53f8\u80fd\u6301\u7e8c\u6709\u71df\u696d\u7684\u73fe\u91d1\u6d41\u5165\uff0c\u9019\u4ee3\u8868\u516c\u53f8\u5728\u81ea\u5df1\u7684\u672c\u696d\u4e0a\u662f\u771f\u6b63\u6709\u8cfa\u9322\u7684\uff0c\u7531MD&amp;A\u7684\u6d41\u52d5\u6027\u8207\u8cc7\u672c\u8cc7\u6e90\uff08Liquidity and Capital Resources\uff09\u6b04\u4f4d\u53ef\u4ee5\u77e5\u9053\uff0c2019\u5e74\u82072020\u5e74\u7684\u5dee\u7570\u4e3b\u8981\u5728\u71df\u904b\u8cc7\u672c\u7684\u8b8a\u52d5\uff08Net change in operating assets and liabilities\uff09\u6240\u81f4\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24714\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820121944_13.jpg\" alt=\"apple 10k \u71df\u904b\u8cc7\u672c\u8b8a\u52d5\u8aaa\u660e\" width=\"1100\" height=\"1195\" \/><\/p>\n<p>\u8b93\u6211\u5011\u4f86\u770b\u770b\u860b\u679c2020\u5e74\u71df\u904b\u8cc7\u672c\u7684\u8b8a\u52d5\u5c0d\u71df\u696d\u73fe\u91d1\u6d41\u91cf\u7684\u5f71\u97ff\uff0c\u642d\u914d\u8cc7\u7522\u8ca0\u50b5\u8868\u4e00\u8d77\u770b\u6703\u66f4\u6e05\u695a\uff1a<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24715\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820122102_1.jpeg\" alt=\"apple 10k \u71df\u904b\u8cc7\u672c\u8b8a\u52d5\" width=\"1100\" height=\"1806\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820122102_1.jpeg 1100w, https:\/\/\/wp-content\/uploads\/20210820122102_1-936x1536.jpeg 936w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24716\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820122106_11.jpeg\" alt=\"apple 10k \u71df\u904b\u8cc7\u672c\u8cc7\u7522\u8ca0\u50b5\u8868\u6b04\u4f4d\" width=\"1100\" height=\"1806\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820122106_11.jpeg 1100w, https:\/\/\/wp-content\/uploads\/20210820122106_11-936x1536.jpeg 936w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<table style=\"border-collapse: collapse; width: 100%; height: 304px;\">\n<tbody>\n<tr style=\"height: 24px;\">\n<td style=\"width: 31.7687%; text-align: center; height: 24px;\"><strong>\u79d1\u76ee<\/strong><\/td>\n<td style=\"width: 14.2194%; text-align: center; height: 24px;\"><strong>\u8cc7\u7522\u8ca0\u50b5\u8868<\/strong><\/td>\n<td style=\"width: 14.2194%; text-align: center; height: 24px;\"><strong>\u5c0d\u71df\u696d\u73fe\u91d1\u6d41\u91cf\u7684\u5f71\u97ff<br \/>\n(\u55ae\u4f4d\uff1a\u767e\u842c\u7f8e\u5143)<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 56px;\">\n<td style=\"width: 31.7687%; height: 56px;\">\u61c9\u6536\u5e33\u6b3e\u6de8\u984d(Accounts receivable, net)<\/td>\n<td style=\"width: 14.2194%; height: 56px;\">\u61c9\u6536\u5e33\u6b3e\u6e1b\u5c11<\/td>\n<td style=\"width: 14.2194%; height: 56px;\">\u73fe\u91d1\u6d41\u5165<\/td>\n<\/tr>\n<tr style=\"height: 80px;\">\n<td style=\"width: 31.7687%; height: 80px;\">\u5b58\u8ca8(Inventories)<\/td>\n<td style=\"width: 14.2194%; height: 80px;\">\u5b58\u8ca8\u6e1b\u5c11\u4f46\u4ecd\u6709\u5b58\u8ca8<\/td>\n<td style=\"width: 14.2194%; height: 80px;\">\u5b58\u8ca8\u6c92\u8ce3\u51fa\u6703\u5957\u7262\u73fe\u91d1&#8211;&gt;\u73fe\u91d1\u6d41\u51fa<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 31.7687%; height: 24px;\">\u4f9b\u61c9\u5546\u975e\u8cbf\u6613\u61c9\u6536\u5e33\u6b3e(Vendor non-trade receivables)<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u61c9\u6536\u5e33\u6b3e\u6e1b\u5c11<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u73fe\u91d1\u6d41\u5165<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 31.7687%; height: 24px;\">\u5176\u4ed6\u6d41\u52d5\u548c\u975e\u6d41\u52d5\u8cc7\u7522(Other current and non-current assets)<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u975e\u6d41\u52d5\u8cc7\u7522\u589e\u52a0<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u73fe\u91d1\u6d41\u51fa<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 31.7687%; height: 24px;\">\u61c9\u4ed8\u5e33\u6b3e(Accounts payable)<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u61c9\u4ed8\u5e33\u6b3e\u6e1b\u5c11<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u73fe\u91d1\u6d41\u51fa<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 31.7687%; height: 24px;\">\u905e\u5ef6\u6536\u5165(Deferred revenue)<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u905e\u5ef6\u6536\u5165\u589e\u52a0<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u73fe\u91d1\u6d41\u5165<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 31.7687%; height: 24px;\">\u5176\u4ed6\u6d41\u52d5\u548c\u975e\u6d41\u52d5\u8ca0\u50b5(Other current and non-current liabilities)<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u975e\u6d41\u52d5\u8ca0\u50b5\u589e\u52a0<\/td>\n<td style=\"width: 14.2194%; height: 24px;\">\u73fe\u91d1\u6d41\u5165<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 60.2075%; height: 24px; text-align: right;\" colspan=\"3\">\u8cc7\u6599\u4f86\u6e90\uff1asec.gov\u00a0 \u00a0\u8cc7\u6599\u6574\u7406\uff1a<a href=/index.html"https:\/\/\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">Mr.Market\u5e02\u5834\u5148\u751f<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u6839\u64da\u5831\u8868\u8a08\u7b97\u53ef\u77e5\uff0c2020\u5e74\u7684\u71df\u904b\u8cc7\u672c\u8b8a\u52d5\u70ba5,690\uff08\u767e\u842c\u7f8e\u5143\uff09\uff0c2019\u5e74\u70ba-3,488\uff08\u767e\u842c\u7f8e\u5143\uff09\uff0c\u6839\u64daMorningstar\u7684\u8cc7\u6599\uff0c\u8fd1\u4e09\u5e74\u7684\u71df\u696d\u73fe\u91d1\u6d41\u91cf\u6210\u9577\u7387\u70ba21.76%\u3001-10.39%\u300116.26%\uff0c\u96d6\u71362019\u5e74\u70ba\u8ca0\u6210\u9577\uff0c\u4f462020\u5e74\u5df2\u56de\u5fa9\u70ba\u6b63\u6210\u9577\u3002<\/p>\n<p>2.\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\uff08Investing activities\uff09<\/p>\n<p>\u6295\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u8a18\u9304\u516c\u53f8\u6240\u6709\u56e0\u70ba\u6295\u8cc7\u800c\u7522\u751f\u7684\u73fe\u91d1\u6d41\u5165\u8207\u6d41\u51fa\uff0c\u5728\u9019\u500b\u5340\u57df\uff0c\u6211\u5011\u8981\u4f86\u770b\u516c\u53f8\u7684\u81ea\u7531\u73fe\u91d1\u6d41\u91cf\u7684\u8b8a\u5316\u3002<\/p>\n<p>\u81ea\u7531\u73fe\u91d1\u6d41\u91cf = \u71df\u696d\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf &#8211; \u8cc7\u672c\u652f\u51fa\uff08Capital expenditure\uff0c\u7c21\u7a31CapEx\uff09<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24717\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820122206_45.jpg\" alt=\"apple 10k \u6295\u8cc7\u73fe\u91d1\u6d41\u91cf\" width=\"1100\" height=\"1181\" \/><\/p>\n<p><a href=/index.html"https:\/\/\/what-is-capital-expenditure\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u8cc7\u672c\u652f\u51fa<\/a>\u7684\u79d1\u76ee\u70ba\u8cfc\u8cb7\u4e0d\u52d5\u7522\u3001\u5ee0\u623f\u8207\u8a2d\u5099\uff08Payments for acquisition of property, plant and equipment\uff0c\u7c21\u7a31PP&amp;E\uff09\uff0c\u6240\u4ee52020\u5e74\u7684\u81ea\u7531\u73fe\u91d1\u6d41\u91cf\u70ba = 80,674 &#8211; 7,309 = 73,365\uff08\u767e\u842c\u7f8e\u5143\uff09\uff0c\u6839\u64daMorningstar\u7684\u8cc7\u6599\uff0c\u8f03\u53bb\u5e74\u6210\u9577\u4e86\u768424.57\uff05\u3002<\/p>\n<p>3.\u878d\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\uff08Financing activities\uff09<\/p>\n<p>\u878d\u8cc7\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\u662f\u8a18\u9304\u516c\u53f8\u8207\u80a1\u6771\u6216\u50b5\u6b0a\u4eba\u4e4b\u9593\u7522\u751f\u7684\u73fe\u91d1\u6d41\u51fa\u6216\u6d41\u5165\uff0c\u50cf\u662f<span style=\"font-weight: 400;\">\u8cb8\u6b3e\u3001\u7c4c\u8cc7\u3001\u8cfc\u8cb7\u81ea\u5bb6\u666e\u901a\u80a1\u3001\u652f\u4ed8\u80a1\u606f\u7b49\u6d3b\u52d5\u90fd\u6703\u8a18\u9304\u5728\u9019\u908a\u3002<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24718\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820122241_70.jpg\" alt=\"apple 10k \u878d\u8cc7\u73fe\u91d1\u6d41\u91cf\" width=\"1100\" height=\"1575\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820122241_70.jpg 1100w, https:\/\/\/wp-content\/uploads\/20210820122241_70-1073x1536.jpg 1073w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<p>\u6b64\u8655\u6211\u5011\u8981\u770b\u7684\u662f\u56de\u8cfc\u666e\u901a\u80a1\uff08Repurchases of common stock\uff09\u7684\u6b04\u4f4d\uff0c\u53ef\u4ee5\u770b\u5230\u860b\u679c\u516c\u53f8\u90fd\u4e00\u76f4\u5728\u56de\u8cfc\u666e\u901a\u80a1\uff0c\u5728\u8ca1\u5831\u8a3b\u89e3\u7684\u5730\u65b9\u53ef\u4ee5\u77e5\u9053\u516c\u53f8\u5df2\u82b1\u8cbb1686\u5104\u7f8e\u5143\u57f7\u884c\u666e\u901a\u80a1\u56de\u8cfc\u8a08\u756b\uff0c\u9019\u5c0d\u80a1\u6771\u4f86\u8aaa\u662f\u597d\u4e8b\uff0c\u56e0\u70ba\u5728\u5916\u6d41\u901a\u7684\u80a1\u6578\u6e1b\u5c11\uff0c\u5c31\u4ee3\u8868\u5df2\u662f\u80a1\u6771\u7684\u6295\u8cc7\u4eba\u7684\u80a1\u6b0a\u589e\u52a0\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-24719\" src=/index.html"https:\/\/\/wp-content\/uploads\/20210820122331_10.jpg\" alt=\"apple 10k \u56de\u8cfc\u666e\u901a\u80a1\u8aaa\u660e\" width=\"1100\" height=\"1575\" srcset=\"https:\/\/\/wp-content\/uploads\/20210820122331_10.jpg 1100w, https:\/\/\/wp-content\/uploads\/20210820122331_10-1073x1536.jpg 1073w\" sizes=\"(max-width: 1100px) 100vw, 1100px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E6%96%B0%E6%89%8B%E5%8F%AF%E5%85%88%E5%BE%9E%E9%87%8D%E9%BB%9E%E9%A0%85%E7%9B%AE%E7%9C%8B%E8%B5%B7\"><\/span>\u65b0\u624b\u53ef\u5148\u5f9e\u91cd\u9ede\u9805\u76ee\u770b\u8d77<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u4ee5\u860b\u679c\u516c\u53f82020\u5e74\u768410-K\u5831\u8868\u70ba\u4f8b\uff0c\u7e3d\u517167\u9801\uff0c\u5c0d\u65b0\u624b\u53ef\u80fd\u6709\u9ede\u5403\u529b\uff0c<br \/>\n\u5e02\u5834\u5148\u751f\u5efa\u8b70\u53ef\u5148\u5f9e\u7b2c\u4e00\u90e8\u5206\u53ca\u7b2c\u4e8c\u90e8\u5206\u7684\u91cd\u9ede\u9805\u76ee\u770b\u8d77\uff0c\u4e4b\u5f8c\u518d\u6162\u6162\u7814\u7a76\u5176\u4ed6\u90e8\u5206\uff1a<\/p>\n<ul>\n<li>\u7b2c\u4e00\u90e8\u5206\uff08Part I\uff09\uff1a\u53ef\u5148\u6ce8\u91cd\u770b\u9805\u76ee\u4e00\uff08Item 1\uff09\uff1a \u516c\u53f8\u696d\u52d9\uff08Business\uff09\u3001\u9805\u76ee\u4e09\uff08Item 3\uff09\uff1a\u6cd5\u5f8b\u8a34\u8a1f\uff08Legal Proceedings\uff09\u3002<\/li>\n<li>\u7b2c\u4e8c\u90e8\u5206\uff08Part II\uff09\uff1a\u53ef\u5148\u6ce8\u91cd\u770b\u9805\u76ee\u4e03\uff08Item 7\uff09\uff1a\u7ba1\u7406\u968e\u5c64\u5c0d\u8ca1\u52d9\u72c0\u6cc1\u548c\u7d93\u71df\u6210\u679c\u7684\u8a0e\u8ad6\u548c\u5206\u6790\uff08MD&amp;A\uff09\uff0c\u5c24\u5176\u662f\u516c\u53f8\u5c0d\u98a8\u96aa\u7684\u770b\u6cd5\u53ef\u4ee5\u7279\u5225\u6ce8\u610f\u3001\u9805\u76ee\u516b\uff08Item 8\uff09\uff1a\u8ca1\u52d9\u5831\u8868\u53ca\u88dc\u5145\u4e8b\u9805\uff08Financial Statements and Supplementary Data\uff09\u3001\u9805\u76ee\u4e5d\uff08Item 9\uff09\uff1a\u6703\u8a08\u53ca\u8ca1\u52d9\u65b9\u9762\u8207\u6703\u8a08\u5e2b\u7684\u8b8a\u5316\u53ca\u722d\u8b70\uff08Changes in and Disagreements with Accountants on Accounting and Financial Disclosure\uff09<\/li>\n<\/ul>\n<p>\u80fd\u770b\u61c210-K\u5831\u8868\uff0c\u4ee3\u8868\u4f60\u5728\u5c0d\u516c\u53f8\u8ca1\u52d9\u8207\u57fa\u672c\u9762\u5206\u6790\u4e0a\u5df2\u7d93\u6709\u5145\u8db3\u7684\u77e5\u8b58\u4e86\uff0c\u5982\u679c\u5c0d\u8ca1\u52d9\u5831\u8868\u9084\u4e0d\u592a\u4e86\u89e3\uff0c\u53ef\u5148\u95b1\u8b80\u5e02\u5834\u5148\u751f\u7db2\u7ad9\u5176\u4ed6\u7684\u6587\u7ae0\uff0c\u518d\u4f86\u6311\u623010-K\u9b54\u738b\uff1a<\/p>\n<p><span style=\"font-weight: 400;\">\u8cc7\u7522\u8ca0\u50b5\u8868\u4ecb\u7d39\u8acb\u770b\uff1a<\/span><a href=/index.html"https:\/\/\/what-is-balance-sheet-4\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">\u8cc7\u7522\u8ca0\u50b5\u8868\u662f\u4ec0\u9ebc\uff1f1\u5206\u9418\u770b\u61c2\u8cc7\u7522\u8ca0\u50b5\u8868<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">\u640d\u76ca\u8868\u4ecb\u7d39\u8acb\u770b\uff1a<\/span><a href=/index.html"https:\/\/\/what-is-income-statement\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">1\u5206\u9418\u770b\u61c2\u8ca1\u52d9\u5831\u8868\u300b\u640d\u76ca\u8868(Income Statement)\u600e\u9ebc\u770b\uff1f\u71df\u6536\u3001\u8cbb\u7528\u3001\u6de8\u5229\u4ecb\u7d39<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">\u73fe\u91d1\u6d41\u91cf\u8868\u7684\u4ecb\u7d39\u8acb\u770b\uff1a<\/span><a href=/index.html"https:\/\/\/what-cash-flow-statement\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">1\u5206\u9418\u770b\u61c2\u8ca1\u52d9\u5831\u8868\u300b\u73fe\u91d1\u6d41\u91cf\u8868<\/span><\/a><\/p>\n\u7de8\u8f2f\uff1aEden \u4e3b\u7de8\uff1a\u5e02\u5834\u5148\u751f\n<p><strong><span style=\"font-size: 20px;\">\u52a0\u5165\u5e02\u5834\u5148\u751fFB\u793e\u5718\uff0c\u5145\u5be6\u66f4\u591a\u7406\u8ca1\u597d\u77e5\u8b58<\/span><\/strong><\/p>\r\n<p>50\u6b72\u4e4b\u524d\u60f3\u9000\u4f11\u4e00\u5b9a\u8981\u61c2\u7406\u8ca1\uff0c<br \/>\u89e3\u6c7a\u6295\u8cc7\u7684\u7169\u60f1\uff01<\/p>\r\n<p><a href=/index.html"https:\/\/bit.ly\/2NTBOAv\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\"><img decoding=\"async\" class=\"alignnone size-full wp-image-7106\" src=/index.html"https:\/\/\/wp-content\/uploads\/20190824195036_69.gif\" alt=\"\" width=\"687\" height=\"243\" \/><\/a><\/p>\r\n<p>\u6700\u8fd1\u5e02\u5834\u5148\u751f\u958b\u4e86\u4e00\u5802\u7684\u300c<strong>\u7528\u7f8e\u80a1ETF\u5275\u9020\u7a69\u5b9a\u73fe\u91d1\u6d41<\/strong>\u300d\u6559\u5b78\u8ab2\u7a0b\uff0c<br \/>\u9019\u5802\u8ab2\u7a0b\u6703\u5f9e\u57fa\u790e\u5165\u9580\u3001\u8cc7\u6599\u67e5\u8a62\u5230\u5be6\u969b\u64cd\u4f5c\uff0c<br \/>\u6559\u4f60\u5b78\u6703\u5efa\u7acb\u4e00\u500b\u7a69\u5b9a\u7684\u5168\u7403ETF\u6295\u8cc7\u7d44\u5408\uff0c\u76ee\u524d\u7d2f\u7a4d\u5df2\u7d93\u6709\u5c07\u8fd11100\u4f4d\u540c\u5b78\u4e0a\u8ab2\u3002<\/p>\r\n<p>\u7dda\u4e0a\u8ab2\u7a0b\u300b<a href=/index.html"http:\/\/bit.ly\/2FV3hPc\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">\u7f8e\u80a1ETF\u5275\u9020\u7a69\u5b9a\u73fe\u91d1\u6d41\u7dda\u4e0a\u8ab2\u7a0b\u9023\u7d50<\/a><\/p>\n<p><br \/><strong><span style=\"color: #ff0000;\">\u5982\u679c\u89ba\u5f97\u9019\u7bc7\u6587\u7ae0\u6709\u5e6b\u52a9\uff0c<\/span><\/strong><br \/><strong><span style=\"color: #ff0000;\">\u5e6b\u6211\u6309\u500b\u8b9a\uff0c\u5206\u4eab\u7d66\u66f4\u591a\u4eba\u770b\u5230\uff0c\u8b1d\u8b1d\uff01<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5982\u679c\u60f3\u6295\u8cc7\u7f8e\u570b\u4e0a\u5e02\u516c\u53f8\uff0c\u95b1\u8b80\u516c\u53f8\u7684\u8ca1\u5831\u662f\u5f88\u597d\u7684\u958b\u59cb\uff0c\u5b83\u53ef\u4ee5\u8b93\u4f60\u5728\u4e09\u5927\u5831\u8868\u4ee5\u5916\u5c0d\u516c\u53f8\u6709\u66f4\u8a73\u76e1\u7684\u8a8d\u8b58\uff0c\u672c\u7bc7\u5e02\u5834\u5148\u751f [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":48745,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[160],"tags":[1096],"table_tags":[],"modified_by":"eden","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/\/wp-content\/uploads\/20230218161532_68.jpg","jetpack-related-posts":[{"id":53109,"url":"https:\/\/\/oanda-us-stock-financial-data\/","url_meta":{"origin":24372,"position":0},"title":"OANDA\u7f8e\u80a1\u8ca1\u5831\u6578\u64da\u5eab &#8211; 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1x, https:\/\/i0.wp.com\/\/wp-content\/uploads\/20230526205204_35.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/\/wp-content\/uploads\/20230526205204_35.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":17546,"url":"https:\/\/\/read-financial-statements\/","url_meta":{"origin":24372,"position":1},"title":"\u8ca1\u5831\u600e\u9ebc\u770b\uff1f\u65b0\u624b\u770b\u61c2\u8ca1\u52d9\u5831\u8868\u5206\u6790\u6559\u5b78","author":"eden","date":"2020-12-28","format":false,"excerpt":"\u672c\u7bc7\u6587\u7ae0\u5e02\u5834\u5148\u751f\u6703\u4f86\u4ecb\u7d39\u8ca1\u5831(\u8ca1\u52d9\u5831\u8868)\u7684\u4e09\u5927\u5831\u8868\uff0c\u5e0c\u671b\u53ef\u4ee5\u8b93\u65b0\u624b\u7528\u6bd4\u8f03\u5bb9\u6613\u7406\u89e3\u7684\u65b9\u5f0f\uff0c\u770b\u61c2\u9019\u4e9b\u8ca1\u52d9\u2026","rel":"","context":"\u5728\u300c\u57fa\u672c\u5206\u6790\u300d\u4e2d","block_context":{"text":"\u57fa\u672c\u5206\u6790","link":"https:\/\/\/category\/invest-master\/basic-analysis\/"},"img":{"alt_text":"\u8ca1\u5831\u600e\u9ebc\u770b","src":"https:\/\/i0.wp.com\/\/wp-content\/uploads\/20221227120245_19.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/\/wp-content\/uploads\/20221227120245_19.jpg?resize=350%2C200&ssl=1 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