????Ч?

????汻????????????

????????????????????????

?????Sharp Eyes(?)???????????y?ɡ

122?????7.5?????й?￡?顣о??λ???????????????

??????????????翪????????????Ч????顣

2013?????????????????????????Ч??Ψ?Ч?

124?????????????  ??????????

1 ????

?緶Χ??Ψ?Ч?ξ???????????????80???ù?40%-50%????棬?β????ü?????е??

?????????????

??λ???ɡ???8??????а???????Ч??С

123????????????淨?涨??????????????????棬?ù淢????????б

125磬??????y?ó???Υ????м?й????Υ棬???????й????Υ?

??з?201211￡?Υ??棬?????Эy?????????????????????

????λ?????????????????弲磬??????Ρ?Ρ??Ρ漰??

???鷢?涨??漰?????????????????y?

?????????????????У???????С壬?1???????

2 ??Ч

123?????幫档?1995?1998?????????????Ч?С

?????鱨????????Щ???????????????ж?Ч???

II??1998?й??????о????Ч?????????????о??????????

????1998л??????????????????????17????飬??0.5%д?(??????)?????????Ч?У1998?ù????

?III?顰Ч73.73%II?Ч71.13%?????????????????

?????????????????????λι????????

????о?д????п??????????(?)?????????????м????????ε???顣

3 ???

?????????????

?￡????????У???????????????201420171-9???÷??2.1?2.4?2.6?2.2???????27%26%26.84%31.87%?????????δ20%

???????????????????????????75%(2016?)???й????????????????

з??????з??з????з??

?????й?鷢??????????????

й???1997????г?ò???????????????????????δ??Ч

200412￡??д???OTC(?)??????????OTCг???

й????????????2011-2013?37.55%

??????????????2014?2015?2016??5?6.6?7.54?????94.68%95.29%94.6%  ???????????????ù????????????????ù?

- ?

???????

??????????????????????壬?????????

????????

?????￡?()3?????????????????????????????

????????????

??????

?????й??б?????(?)а???()???????????

????????????????????Σ????淢???Ρ

?????Σ

????120?80???ù?40%-50%????t?????β?????????ü???á?????????Ч?ü??

????

????忪?????п??()????

?????????

?????й??????????????Ч??Ψ?Ч?

?Ч??????????????á?????????????о????в?

??????·???

??????(?)?IV?()???Ще???óЩ?(?Ч)

???

????????淶??е?????кIV?()?ò????ú?и????IV?顣

?2013????

??y????????й???д???????й??3??

????

?????????????к????ζЩ??±??????????IV?()

????

??Щ???Ч?к???й?Щ???綼????á?Щ???г

??·?

????????????(鱨)??Щ()???????????Щ?????????????????

?й?

????飬??????????????????Ч??Ч????￡????

??

???????????????壬???????

и??????Ч???????????????

? 

??