{"id":1087,"date":"2026-06-02T01:24:58","date_gmt":"2026-06-01T17:24:58","guid":{"rendered":"https:\/\/khsci.com\/khQuant\/?page_id=1087"},"modified":"2026-06-02T22:39:57","modified_gmt":"2026-06-02T14:39:57","slug":"t0etfart","status":"publish","type":"page","link":"https:\/\/khsci.com\/khQuant\/t0etfart\/","title":{"rendered":"\u7f51\u683c\u4ea4\u6613\u7684\u8d5a\u94b1\u903b\u8f91\u662f\u4ec0\u4e48\uff1fT+0\u7684ETF\u4ea4\u6613\u7684\u7f51\u683c\u7b56\u7565\u600e\u4e48\u5199\uff1f\u53c2\u6570\u5982\u4f55\u8bbe\u7f6e\uff1f"},"content":{"rendered":"<p>\u7f51\u683c\u4ea4\u6613\u5728\u91cf\u5316\u5b9e\u8df5\u4e2d\u662f\u5f88\u5e38\u89c1\u7684\u7b56\u7565\uff0c\u6709\u4eba\u5c06\u5176\u5949\u4e3a\u572d\u81ec\uff0c\u4e5f\u6709\u4eba\u5bf9\u5176\u4e0d\u4ee5\u4e3a\u7136\u3002<\/p>\n<p>\u603b\u7684\u6765\u8bf4\uff0c\u7f51\u683c\u4ea4\u6613\u901a\u5e38\u8f83\u9002\u5408\u4e24\u7c7b\u60c5\u51b5\uff1a<\/p>\n<p>\u7b2c\u4e00\u7c7b\u662f\u201c\u5c0f\u5bcc\u5373\u5b89\u201d\u578b\uff0c\u4e0d\u8ffd\u6c42\u4e00\u628a\u6293\u4f4f\u5927\u8d8b\u52bf\uff0c\u66f4\u5728\u610f\u7684\u662f\u5229\u7528\u65e5\u5185\u6216\u51e0\u65e5\u5185\u7684\u6765\u56de\u9707\u8361\uff0c\u7a33\u7a33\u5403\u5230\u6bcf\u5929\u51e0\u767e\u5757\u8fd9\u6837\u7684\u5c0f\u989d\u5dee\u4ef7\uff0c\u628a\u8d26\u6237\u5f53\u6210\u4e00\u4e2a\u6301\u7eed\u6eda\u52a8\u7684\u5c0f\u73b0\u91d1\u6d41\u5de5\u5177\u3002<\/p>\n<p>\u7b2c\u4e8c\u7c7b\u662f\u672c\u6765\u5c31\u770b\u597d\u67d0\u53ea\u80a1\u7968\u6216ETF\u957f\u671f\u8d70\u52bf\uff0c\u613f\u610f\u957f\u671f\u6301\u6709\u8fd9\u4e2a\u6807\u7684\uff0c\u4f46\u53c8\u4e0d\u7518\u5fc3\u8ba9\u4ed3\u4f4d\u5728\u8d26\u6237\u91cc\u8eba\u4e0a\u51e0\u4e2a\u6708\u51e0\u4e4e\u6ca1\u6709\u52a8\u9759\uff0c\u4e8e\u662f\u5e0c\u671b\u5728\u4e0d\u5b8c\u5168\u653e\u5f03\u957f\u671f\u4e0a\u6da8\u903b\u8f91\u7684\u524d\u63d0\u4e0b\uff0c\u7528\u7f51\u683c\u5316\u7684\u9ad8\u629b\u4f4e\u5438\u628a\u6301\u4ed3\u201c\u64cd\u4f5c\u8d77\u6765\u201d\uff0c\u4e89\u53d6\u5728\u8d8b\u52bf\u6536\u76ca\u4e4b\u5916\u518d\u591a\u6323\u4e00\u5c42\u6ce2\u52a8\u7684\u94b1\u3002<\/p>\n<p>\u672c\u7bc7\u53ca\u540e\u7eed\u51e0\u7bc7\u6587\u7ae0\uff0c\u6211\u4eec\u5c06\u5bf9\u8be5\u7b56\u7565\u7684\u5e95\u5c42\u7b97\u6cd5\u8fdb\u884c\u6df1\u5165\u63a2\u8ba8\uff0c\u5206\u6790\u8fd9\u4e2a\u7b56\u7565\u7a76\u7adf\u662f\u5426\u597d\u7528\uff0c\u4ee5\u53ca\u5b83\u5230\u5e95\u9002\u7528\u4e8e\u4ec0\u4e48\u6837\u7684\u5e02\u573a\u573a\u666f\u3002<\/p>\n<hr 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decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223808-el4iu.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u53ef\u4ee5\u4e3e\u4e00\u4e2a\u66f4\u76f4\u89c2\u7684\u4f8b\u5b50\u3002\u5047\u8bbe\u8d26\u6237\u603b\u8d44\u91d1\u4e3a\u00a0<code>100\u4e07<\/code>\uff0c\u5176\u4e2d\u00a0<code>50\u4e07<\/code>\u00a0\u4f5c\u4e3a\u5e95\u4ed3\uff0c<code>50\u4e07<\/code>\u00a0\u4f5c\u4e3a\u53ef\u4ea4\u6613\u73b0\u91d1\uff1b\u7f51\u683c\u95f4\u8ddd\u8bbe\u4e3a\u00a0<code>1%<\/code>\uff0c\u5355\u6b21\u4ea4\u6613\u91d1\u989d\u8bbe\u4e3a\u00a0<code>2\u4e07\u5143<\/code>\u3002\u82e5\u4ef7\u683c\u5148\u4ece\u67d0\u4e2a\u57fa\u51c6\u4f4d\u5411\u4e0b\u8d70\u4e86\u4e24\u4e2a\u7f51\u683c\uff0c\u518d\u56de\u5230\u539f\u4f4d\uff0c\u90a3\u4e48\u7b56\u7565\u5927\u81f4\u4f1a\u7ecf\u5386\u4e24\u6b21\u4e70\u5165\u548c\u4e24\u6b21\u5356\u51fa\uff0c\u5f62\u6210\u4e24\u7ec4\u5b8c\u6574\u7684\u201c\u7f51\u683c\u5bf9\u201d\u3002\u5728\u4e0d\u8003\u8651\u5e95\u4ed3\u76c8\u4e8f\u53d8\u5316\u7684\u60c5\u51b5\u4e0b\uff0c\u6bcf\u7ec4\u7f51\u683c\u5bf9\u7684\u6bdb\u6536\u76ca\u5927\u7ea6\u662f\u00a0<code>2\u4e07\u5143 \u00d7 1% = 200\u5143<\/code>\uff0c\u4e24\u7ec4\u5c31\u662f\u00a0<code>400\u5143<\/code>\u3002\u5982\u679c\u518d\u6263\u9664\u6bcf\u7ec4\u5f80\u8fd4\u4ea4\u6613\u5408\u8ba1\u7ea6\u00a0<code>10\u5143<\/code>\u00a0\u7684\u4ea4\u6613\u6210\u672c\uff08\u4e070.5\u7684\u8d39\u7387\uff09\uff0c\u90a3\u4e48\u4e24\u7ec4\u7f51\u683c\u5bf9\u6700\u7ec8\u5408\u8ba1\u51c0\u6536\u76ca\u7ea6\u4e3a\u00a0<code>320\u5143<\/code>\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u5373\u4f7f\u4ef7\u683c\u6700\u540e\u56de\u5230\u4e86\u8d77\u70b9\uff0c\u7f51\u683c\u7b56\u7565\u4f9d\u7136\u53ef\u80fd\u56e0\u4e3a\u4e2d\u95f4\u6355\u6349\u5230\u4e86\u6ce2\u52a8\u800c\u83b7\u5f97\u6b63\u6536\u76ca\u3002<\/p>\n<p>\u8fd9\u91cc\u9700\u8981\u5148\u660e\u786e\u7f51\u683c\u4ea4\u6613\u7684\u51e0\u4e2a\u91cd\u8981\u6027\u8d28\uff1a<\/p>\n<ol>\n<li><strong>\u76c8\u5229\u662f\u4ee5\u201c\u7f51\u683c\u5bf9\u201d\u6765\u8ba1\u7b97\u7684<\/strong>\uff1a\u5373\u4e00\u4e2a\u7f51\u683c\u533a\u95f4\u5185\u7684\u4e00\u5bf9\u201c\u4e70\u5165-\u5356\u51fa\u201d\u52a8\u4f5c\uff0c\u5171\u540c\u7ec4\u6210\u4e86\u4e00\u7ec4\u786e\u5b9a\u7684\u6536\u76ca\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u5e95\u4ed3\u6536\u76ca\u5e76\u4e0d\u968f\u7f51\u683c\u5dee\u4ef7\u800c\u6539\u53d8<\/strong>\uff1a\u8fd9\u610f\u5473\u7740\uff0c\u5982\u679c\u6807\u7684\u4ef7\u683c\u7ecf\u8fc7\u4e00\u4e2a\u8d77\u843d\u56de\u5230\u539f\u4ef7\uff0c\u7b56\u7565\u7684\u603b\u6536\u76ca\u5c31\u662f\u6240\u6709\u201c\u7f51\u683c\u5bf9\u201d\u52a0\u8d77\u6765\u7684\u5229\u6da6\u3002\u4f46\u5982\u679c\u6807\u7684\u5728\u4e00\u6bb5\u65f6\u95f4\u5185\u9707\u8361\u4e0b\u8dcc\uff0c\u5373\u4f7f\u7f51\u683c\u4ea4\u6613\u672c\u8eab\u4ea7\u751f\u4e86\u5229\u6da6\uff0c\u7531\u4e8e\u5e95\u4ed3\u90e8\u5206\u7684\u6d6e\u4e8f\uff0c\u8d26\u6237\u6574\u4f53\u51c0\u503c\u53ef\u80fd\u4f9d\u7136\u662f\u4e0b\u8dcc\u7684\uff0c\u6b64\u65f6\u7f51\u683c\u7684\u4f5c\u7528\u4e3b\u8981\u662f\u644a\u4f4e\u6301\u4ed3\u6210\u672c\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u4ed3\u4f4d\u4e0e\u6807\u7684\u8d44\u4ea7\u4ef7\u683c\u5448\u73b0\u8d1f\u76f8\u5173<\/strong>\uff1a\u5f53\u6211\u4eec\u8c08\u8bba\u7f51\u683c\u4ea4\u6613\u7684\u201c\u4f4e\u4e70\u9ad8\u5356\u201d\u65f6\uff0c\u5176\u5728\u4ea4\u6613\u7cfb\u7edf\u4e2d\u7684\u5b9e\u9645\u8868\u73b0\u4e3a\u4ef7\u683c\u8d8a\u4f4e\u3001\u4ed3\u4f4d\u8d8a\u91cd\uff1b\u4ef7\u683c\u8d8a\u9ad8\u3001\u4ed3\u4f4d\u8d8a\u8f7b\u3002<\/p>\n<\/li>\n<\/ol>\n<hr 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\/><\/p>\n<ol>\n<li><strong>\u95f4\u8ddd\u8fc7\u5c0f<\/strong>\uff1a\u6b64\u65f6\u4ea4\u6613\u6781\u5176\u9891\u7e41\uff0c\u4f46\u6bcf\u6b21\u4ea4\u6613\u7684\u6bdb\u5229\u975e\u5e38\u4f4e\u3002\u5f53\u6bdb\u5229\u65e0\u6cd5\u8986\u76d6\u4ea4\u6613\u6469\u64e6\u6210\u672c\u65f6\uff0c\u5355\u6b21\u4ea4\u6613\u5c31\u4f1a\u53d8\u6210\u4e8f\u635f\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u95f4\u8ddd\u8fc7\u5927<\/strong>\uff1a\u6b64\u65f6\u5355\u6b21\u4ea4\u6613\u7684\u5229\u6da6\u5f88\u4e30\u539a\uff0c\u4f46\u4ef7\u683c\u5f88\u96be\u8fbe\u5230\u89e6\u53d1\u6761\u4ef6\uff0c\u4ea4\u6613\u6b21\u6570\u9510\u51cf\uff0c\u5bfc\u81f4\u5927\u91cf\u8d44\u91d1\u957f\u671f\u95f2\u7f6e\uff0c\u6574\u4f53\u7684\u8d44\u91d1\u56de\u62a5\u7387\u975e\u5e38\u4f4e\u3002<\/p>\n<\/li>\n<\/ol>\n<p>\u4f46\u662f\uff0c\u8fdb\u4e00\u6b65\u8bf4\uff0c\u5408\u9002\u7684\u7f51\u683c\u95f4\u8ddd\u5e76\u4e0d\u53ea\u7531\u4ea4\u6613\u6210\u672c\u51b3\u5b9a\uff0c\u5b83\u5f80\u5f80\u540c\u65f6\u53d7\u5230\u6807\u7684\u6ce2\u52a8\u7387\u3001\u8d8b\u52bf\u5f3a\u5f31\u3001\u53cd\u62bd\u9891\u7387\u3001\u4ea4\u6613\u91d1\u989d\u3001\u5e95\u4ed3\u7ed3\u6784\u4ee5\u53ca\u6267\u884c\u6210\u672c\u7b49\u591a\u79cd\u56e0\u7d20\u5f71\u54cd\u3002\u4e3a\u4e86\u66f4\u76f4\u89c2\u5730\u770b\u6e05\u201c\u7f51\u683c\u95f4\u8ddd\u201d\u548c\u201c\u7b56\u7565\u6536\u76ca\u201d\u4e4b\u95f4\u5230\u5e95\u662f\u4ec0\u4e48\u5173\u7cfb\uff0c\u6700\u53ef\u9760\u7684\u529e\u6cd5\u4e0d\u662f\u505c\u7559\u5728\u7406\u8bba\u8ba8\u8bba\uff0c\u800c\u662f\u76f4\u63a5\u4f7f\u7528\u771f\u5b9e\u5e02\u573a\u6570\u636e\u8fdb\u884c\u56de\u6d4b\u3002\u53ea\u6709\u628a\u7f51\u683c\u53c2\u6570\u653e\u8fdb\u771f\u5b9e\u884c\u60c5\u91cc\u53cd\u590d\u6d4b\u8bd5\uff0c\u624d\u80fd\u5f97\u5230\u66f4\u63a5\u8fd1\u5b9e\u76d8\u7684\u7ed3\u8bba\u3002<\/p>\n<h3>\u7814\u7a76\u53e3\u5f84\u4e0e\u6d4b\u8bd5\u5de5\u5177\u8bf4\u660e<\/h3>\n<p>\u672c\u7bc7\u6587\u7ae0\u6240\u6709\u56de\u6d4b\u5747\u5728<strong>\u770b\u6d77\u91cf\u5316\u56de\u6d4b\u5e73\u53f0\uff08khQuant\uff09<\/strong>\u4e0a\u6267\u884c\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u672c\u6b21\u53c2\u6570\u626b\u63cf\u5e76\u6ca1\u6709\u4f7f\u7528\u5e73\u53f0\u7684GUI\u754c\u9762\u624b\u52a8\u70b9\u9009\uff0c\u800c\u662f\u8c03\u7528\u4e86\u5e73\u53f0\u7684\u00a0<strong>\u7eaf\u4ee3\u7801\u8fd0\u884c\u6a21\u5f0f<\/strong>\u3002\u5f53\u524d\u4e8c\u7ef4\u811a\u672c\u9884\u8bbe\u4e86\u00a0<code>70<\/code>\u00a0\u7ec4\u53c2\u6570\u7ec4\u5408\uff0c\u901a\u8fc7\u81ea\u52a8\u5316\u811a\u672c\u81ea\u52a8\u904d\u5386\u53c2\u6570\u5e76\u751f\u6210\u7ed3\u679c\u8868\uff0c\u6781\u5927\u63d0\u5347\u4e86\u7b56\u7565\u7814\u7a76\u7684\u6548\u7387\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223808-tdlzk.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u770b\u6d77\u56de\u6d4b\u5e73\u53f0\u4e3b\u754c\u9762\uff0c\u4f46\u662f\u672c\u6b21\u56de\u6d4b\u5b9e\u9a8c\u4f7f\u7528\u7684\u662f\u7eaf\u547d\u4ee4\u884c\u6a21\u5f0f<\/p>\n<p>\u672c\u6b21\u6d4b\u8bd5\u7684\u57fa\u7840\u914d\u7f6e\u5982\u4e0b\uff1a<\/p>\n<ul>\n<li>\u7b56\u7565\uff1a\u56fa\u5b9a\u7f51\u683c\u7b56\u7565<\/p>\n<\/li>\n<li>\n<p>\u6807\u7684\uff1a\u67d0\u5bbd\u57faETF\uff08\u4e0a\u6da8\u6837\u672c\uff09<\/p>\n<\/li>\n<li>\n<p>\u533a\u95f4\uff1a<code>2025-01-01<\/code>\u00a0\u81f3\u00a0<code>2025-11-20<\/code><\/p>\n<\/li>\n<li>\n<p>\u5468\u671f\uff1a<code>1m<\/code>\u00a0\u7ea7\u522bK\u7ebf<\/p>\n<\/li>\n<li>\n<p>\u6210\u672c\uff1a\u4f63\u91d1\u00a0<code>0.005%<\/code>\uff0c\u6ed1\u70b9\u6309\u00a0<code>0<\/code>\u00a0\u5904\u7406<\/p>\n<\/li>\n<\/ul>\n<p>\u8fd9\u91cc\u8981\u8bf4\u660e\u4e00\u4e0b\uff0c\u672c\u6587\u4e4b\u6240\u4ee5\u91c7\u75280\u6ed1\u70b9\u53e3\u5f84\uff0c\u662f\u56e0\u4e3a\u7f51\u683c\u4ea4\u6613\u901a\u5e38\u4f7f\u7528\u9650\u4ef7\u5355\u89e6\u53d1\uff0c\u7406\u8bba\u4e0a\u5e76\u4e0d\u4e3b\u52a8\u8ffd\u4ef7\uff0c\u6240\u4ee5\u8fd9\u91cc\u5148\u628a\u6ed1\u70b9\u8bbe\u4e3a 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50% \u521d\u59cb\u5e95\u4ed3\u9759\u6001\u6301\u6709\u201d\u7684\u57fa\u51c6\u7ed3\u679c\u3002\u56de\u6d4b\u5468\u671f\u4e3a\u00a0<code>1m<\/code>\uff0c\u533a\u95f4\u4e3a\u00a0<code>2025-01-01<\/code>\u00a0\u5230\u00a0<code>2025-11-20<\/code>\uff0c\u521d\u59cb\u8d44\u91d1\u00a0<code>100\u4e07<\/code>\u3002<\/p>\n<p>\u5728\u770b\u56de\u6d4b\u6570\u636e\u4e4b\u524d\uff0c\u6211\u4eec\u5148\u76f4\u89c2\u5730\u4e86\u89e3\u4e00\u4e0b\u6807\u7684\u5728\u6d4b\u8bd5\u533a\u95f4\u5185\u7684\u4ef7\u683c\u8d70\u52bf\u3002\u4e0b\u56fe\u5c55\u793a\u4e86\u8be5\u6807\u7684\uff08\u4e0a\u6da8\u6837\u672c\uff09\u7684\u5b9e\u9645\u8d70\u52bf\uff0c\u4ee5\u53ca\u7b56\u7565\u5728\u00a0<code>0.8%<\/code>\u00a0\u95f4\u8ddd\u4e0b\u5b9e\u9645\u89e6\u53d1\u8fc7\u7684\u56fa\u5b9a\u7f51\u683c\u7ebf\uff08\u56fe2\uff09\uff1a<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223808-q9b2r.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe2\uff1a\u6d4b\u8bd5\u533a\u95f4\u5185\u7684\u4ef7\u683c\u8d70\u52bf\u4e0e\u56fa\u5b9a\u7f51\u683c\u7ebf\u5206\u5e03<\/p>\n<p>\u672c\u6b21\u56de\u6d4b\u7684\u4ea4\u6613\u6210\u672c\u8bbe\u7f6e\u6765\u81ea\u7b56\u7565\u914d\u7f6e\u6587\u4ef6\uff1a\u4f63\u91d1\u7387\u4e3a\u00a0<code>0.005%<\/code>\uff0c\u5355\u7b14\u4ea4\u6613\u91d1\u989d\u56fa\u5b9a\u4e3a\u00a0<code>6\u4e07\u5143<\/code>\u3002<\/p>\n<p>\u672c\u6b21\u5b9e\u9a8c\u6d4b\u8bd5\u4e86\u4e94\u6863\u7f51\u683c\u95f4\u8ddd\uff0c\u5e76\u53ea\u7edf\u8ba1\u00a0<code>trades.csv<\/code>\u00a0\u91cc\u76f4\u63a5\u8bb0\u5f55\u7684\u663e\u6027\u6210\u672c\u3002\u7531\u4e8e\u672c\u8f6e\u7edf\u4e00\u91c7\u7528\u65e0\u6ed1\u70b9\u53e3\u5f84\uff0c\u56e0\u6b64\u8868\u4e2d\u7684\u201c\u603b\u4ea4\u6613\u6210\u672c\u201d\u5c31\u7b49\u4e8e\u4f63\u91d1\u3001\u5370\u82b1\u7a0e\u3001\u8fc7\u6237\u8d39\u3001\u6d41\u91cf\u8d39\u7b49\u663e\u6027\u6210\u672c\u4e4b\u548c\u3002\u5bf9\u4e8e\u201c\u4e0d\u4f7f\u7528\u7f51\u683c\u7b97\u6cd5\u201d\u8fd9\u4e00\u884c\uff0c\u6536\u76ca\u7387\u4e0e\u5e74\u5316\u6536\u76ca\u7387\u90fd\u6309<strong>\u5168\u90e8\u8d26\u6237\u8d44\u91d1<\/strong>\u4e3a\u5206\u6bcd\u8ba1\u7b97\uff1b\u56e0\u4e3a\u7b56\u7565\u53ea\u4fdd\u7559\u00a0<code>50%<\/code>\u00a0\u5e95\u4ed3\u9759\u6001\u6301\u6709\uff0c\u6240\u4ee5\u8d26\u6237\u603b\u6536\u76ca\u7387\u7b49\u4e8e\u6807\u7684\u533a\u95f4\u6da8\u5e45\u4e58\u4ee5\u00a0<code>50%<\/code>\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u8fd9\u5f20\u8868\u4e3b\u8981\u662f\u5728\u540c\u4e00\u53ea\u6807\u7684\u3001\u540c\u4e00\u5957\u8d44\u91d1\u89c4\u6a21\u3001\u540c\u4e00\u7b14\u4ea4\u6613\u529b\u5ea6\u4e0b\uff0c\u89c2\u5bdf\u201c\u7f51\u683c\u5bbd\u5ea6\u53d8\u5316\u201d\u672c\u8eab\u4f1a\u628a\u7ed3\u679c\u63a8\u5411\u54ea\u91cc\u3002<\/p>\n<table>\n<thead>\n<tr>\n<th align=\"left\">\u7f51\u683c\u95f4\u8ddd<\/th>\n<th align=\"right\">\u603b\u6536\u76ca\u7387<\/th>\n<th align=\"right\">\u5e74\u5316\u6536\u76ca\u7387<\/th>\n<th align=\"right\">\u6700\u5927\u56de\u64a4<\/th>\n<th align=\"right\">\u4ea4\u6613\u6b21\u6570<\/th>\n<th align=\"right\">\u603b\u4ea4\u6613\u6210\u672c<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">0.1%<\/td>\n<td align=\"right\">5.34%<\/td>\n<td align=\"right\">6.26%<\/td>\n<td align=\"right\">6.28%<\/td>\n<td align=\"right\">727<\/td>\n<td align=\"right\">2178.28<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">0.3%<\/td>\n<td align=\"right\">34.14%<\/td>\n<td align=\"right\">40.94%<\/td>\n<td align=\"right\">7.09%<\/td>\n<td align=\"right\">1746<\/td>\n<td align=\"right\">5219.35<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">0.5%<\/td>\n<td align=\"right\">23.29%<\/td>\n<td align=\"right\">27.70%<\/td>\n<td align=\"right\">4.57%<\/td>\n<td align=\"right\">987<\/td>\n<td align=\"right\">2960.09<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">1.0%<\/td>\n<td align=\"right\">10.68%<\/td>\n<td align=\"right\">12.59%<\/td>\n<td align=\"right\">3.84%<\/td>\n<td align=\"right\">192<\/td>\n<td align=\"right\">573.63<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">3.0%<\/td>\n<td align=\"right\">15.03%<\/td>\n<td align=\"right\">17.77%<\/td>\n<td align=\"right\">4.75%<\/td>\n<td align=\"right\">86<\/td>\n<td align=\"right\">270.85<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">\u4e0d\u4f7f\u7528\u7f51\u683c\u7b97\u6cd5\uff0850%\u5e95\u4ed3\u9759\u6001\u6301\u6709\uff09<\/td>\n<td align=\"right\">16.14%<\/td>\n<td align=\"right\">19.10%<\/td>\n<td align=\"right\">12.91%<\/td>\n<td align=\"right\">0<\/td>\n<td align=\"right\">0.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u8fd9\u7ec4\u6700\u65b0\u56de\u6d4b\u7ed3\u679c\uff08\u4e25\u683c\u56fa\u5b9a\u7f51\u683c\uff0c\u5355\u7b14\u4ea4\u66136\u4e07\u5143\uff09\u63ed\u793a\u4e862\u4e2a\u76f4\u89c2\u7684\u7ed3\u8bba\uff1a<\/p>\n<ol>\n<li><strong>\u8fc7\u4e8e\u5bc6\u96c6\u7684\u7f51\u683c\u672a\u5fc5\u662f\u597d\u4e8b\uff0c\u56e0\u4e3a\u5355\u7b14\u4ea4\u6613\u91d1\u989d\u8f83\u5927\u65f6\u4f1a\u8fc5\u901f\u7528\u5b8c\u7b79\u7801\u3002<\/strong><br \/>\n\u5f88\u591a\u4eba\u4ee5\u4e3a\u7f51\u683c\u8d8a\u5bc6\u8d5a\u5f97\u8d8a\u591a\u3002\u4f46\u6570\u636e\u663e\u793a\uff0c\u5f53\u6bcf\u6b21\u4e70\u5356\u7684\u91d1\u989d\u6bd4\u8f83\u5927\uff08\u6bd4\u59826\u4e07\u5143\uff09\u65f6\uff0c\u5982\u679c\u7f51\u683c\u8bbe\u5f97\u592a\u5bc6\uff08\u5982\u00a0<code>0.1%<\/code>\uff09\uff0c\u968f\u4fbf\u4e00\u70b9\u5c0f\u6ce2\u52a8\u5c31\u4f1a\u89e6\u53d1\u4ea4\u6613\u3002\u7ed3\u679c\u5c31\u662f\u884c\u60c5\u8fd8\u6ca1\u8d70\u591a\u8fdc\uff0c\u624b\u91cc\u7684\u73b0\u91d1\u6216\u5e95\u4ed3\u5c31\u88ab\u5feb\u901f\u6253\u5149\u4e86\u3002\u8fd9\u6837\u4e0d\u4ec5\u5403\u4e0d\u5230\u540e\u9762\u7684\u5927\u8d8b\u52bf\uff0c\u8fd8\u4f1a\u5bfc\u81f4\u6700\u7ec8\u6536\u76ca\u7387\u57ab\u5e95\uff08\u4ec5\u00a0<code>5.34%<\/code>\uff09\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u592a\u5bbd\u7684\u7f51\u683c\u4e5f\u672a\u5fc5\u597d\uff0c\u56e0\u4e3a\u80fd\u591f\u6355\u6349\u7684\u9707\u8361\u533a\u95f4\u4f1a\u5927\u5e45\u51cf\u5c11\u3002<\/strong><br \/>\n\u5f53\u7f51\u683c\u653e\u5f97\u592a\u5bbd\uff08\u5982\u00a0<code>1.0%<\/code>\u00a0\u6216\u00a0<code>3.0%<\/code>\uff09\u65f6\uff0c\u4e70\u5356\u6b21\u6570\u4f1a\u65ad\u5d16\u5f0f\u4e0b\u964d\uff08<code>3.0%<\/code>\u00a0\u53ea\u6709\u00a0<code>86\u6b21<\/code>\uff09\u3002\u7531\u4e8e\u95e8\u69db\u592a\u9ad8\uff0c\u65e5\u5e38\u7684\u5927\u91cf\u9707\u8361\u6839\u672c\u6478\u4e0d\u5230\u7f51\u683c\u7ebf\uff0c\u5bfc\u81f4\u767d\u767d\u9519\u5931\u4e86\u4f4e\u4e70\u9ad8\u5356\u7684\u673a\u4f1a\u3002\u7ed3\u679c\u5c31\u662f\u8d5a\u94b1\u80fd\u529b\uff08<code>10.68%<\/code>\uff09\u8fde\u76f4\u63a5\u8eba\u5e73\u4e0d\u52a8\uff08<code>16.14%<\/code>\uff09\u90fd\u6bd4\u4e0d\u8fc7\u3002<\/p>\n<\/li>\n<\/ol>\n<p>\u4e0b\u56fe\u662f\u00a0<code>0.1%<\/code>\u00a0\u7f51\u683c\u95f4\u8ddd\u4e0b\u7684\u4e00\u6b21\u5b9e\u9645\u56de\u6d4b\u56fe\u548c\u4ea4\u6613\u660e\u7ec6\u56fe<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223808-emk33.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe3-1\uff1a\u56de\u6d4b\u7ed3\u679c\u6982\u89c8<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223808-88fvp.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe3-2\uff1a\u9010\u7b14\u4ea4\u6613\u660e\u7ec6\uff0c\u7b79\u7801\u65e9\u65e9\u6253\u5149\uff0c\u4e0a\u5347\u8d8b\u52bf\u4e2d\u6301\u4ed3\u4e3a0<\/p>\n<p>\u4e0b\u56fe\u662f\u00a0<code>3%<\/code>\u00a0\u7f51\u683c\u95f4\u8ddd\u4e0b\u7684\u4e00\u6b21\u5b9e\u9645\u56de\u6d4b\u56fe\u548c\u4ea4\u6613\u660e\u7ec6\u56fe<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223808-1hw18.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe3-3\uff1a\u56de\u6d4b\u7ed3\u679c\u6982\u89c8<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223808-9bmrh.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe3-4\uff1a\u9010\u7b14\u4ea4\u6613\u660e\u7ec6\uff0c\u4ea4\u6613\u9891\u7387\u5f88\u4f4e<\/p>\n<p>\u4ece\u4e0a\u8fb9\u6848\u4f8b\u4e2d\u6211\u4eec\u53ef\u4ee5\u5f15\u7533\u51fa\u4e24\u4e2a\u66f4\u5177\u4f53\u7684\u95ee\u9898\uff1a<\/p>\n<ul>\n<li>\u7b2c\u4e00\uff0c\u5982\u679c\u95ee\u9898\u51fa\u5728\u4e0a\u6da8\u9014\u4e2d\u5356\u5f97\u592a\u5feb\uff0c\u90a3\u4e48\u628a\u6bcf\u6b21\u4ea4\u6613\u91d1\u989d\u8c03\u5c0f\u4e4b\u540e\uff0c\u80fd\u4e0d\u80fd\u8ba9\u7b56\u7565\u5728\u4e0a\u6da8\u884c\u60c5\u91cc\u4fdd\u7559\u66f4\u591a\u7b79\u7801\uff0c\u4ece\u800c\u5c11\u4e00\u4e9b\u8e0f\u7a7a\u3001\u591a\u5403\u5230\u4e00\u6bb5\u8d8b\u52bf\uff1f<\/p>\n<\/li>\n<li>\n<p>\u7b2c\u4e8c\uff0c\u65e2\u7136\u7f51\u683c\u76f8\u8f83\u4e8e\u9759\u6001\u6301\u6709\u672a\u5fc5\u5360\u4f18\uff0c\u90a3\u4e48\u5b83\u7a76\u7adf\u5728\u54ea\u4e00\u7c7b\u884c\u60c5\u91cc\u6700\u80fd\u53d1\u6325\u4f5c\u7528\uff1f<\/p>\n<\/li>\n<\/ul>\n<p>\u73b0\u5728\u6211\u4eec\u518d\u987a\u7740\u8fd9\u4e24\u4e2a\u95ee\u9898\u7ee7\u7eed\u5f80\u540e\u5c55\u5f00\uff0c\u7ee7\u7eed\u6df1\u5165\u5c55\u5f00\u3002<\/p>\n<hr \/>\n<h2>\u56db\u3001 \u53e6\u4e00\u4e2a\u5173\u952e\u53c2\u6570\uff1a\u6bcf\u6b21\u4ea4\u6613\u7684\u8d44\u91d1\u91cf<\/h2>\n<p>\u5982\u679c\u8bf4\u201c\u7f51\u683c\u95f4\u8ddd\u201d\u51b3\u5b9a\u4e86\u4ea4\u6613\u89e6\u53d1\u5f97\u6709\u591a\u9891\u7e41\uff0c\u90a3\u4e48\u201c\u6bcf\u6b21\u4ea4\u6613\u7684\u8d44\u91d1\u91cf\u201d\u51b3\u5b9a\u7684\u5c31\u662f\uff1a<strong>\u6bcf\u6b21\u89e6\u53d1\u65f6\uff0c\u7b56\u7565\u4e0b\u591a\u5927\u6ce8\u3002<\/strong><\/p>\n<p>\u5f52\u7eb3\u8d77\u6765\uff0c\u5b83\u4e3b\u8981\u5f71\u54cd\u4e09\u4ef6\u4e8b\u3002<\/p>\n<h3>1&#46; \u5b83\u51b3\u5b9a\u5355\u6b21\u8d5a\u591a\u5c11\u94b1<\/h3>\n<p>\u5728\u5176\u4ed6\u6761\u4ef6\u4e0d\u53d8\u7684\u60c5\u51b5\u4e0b\uff0c\u5355\u6b21\u4ea4\u6613\u91d1\u989d\u8d8a\u5927\uff0c\u540c\u6837\u4e00\u6b21\u7f51\u683c\u6765\u56de\u6240\u5e26\u6765\u7684\u7edd\u5bf9\u6536\u76ca\u5c31\u8d8a\u5927\u3002<\/p>\n<h3>2&#46; \u5b83\u51b3\u5b9a\u4ed3\u4f4d\u5207\u6362\u901f\u5ea6\u548c\u98ce\u9669\u66b4\u9732<\/h3>\n<p>\u6bcf\u6b21\u4ea4\u6613\u91d1\u989d\u8d8a\u5927\uff0c\u4ed3\u4f4d\u5728\u4e00\u6b21\u89e6\u53d1\u540e\u7684\u53d8\u5316\u5c31\u8d8a\u5927\u3002\u5927\u989d\u4ea4\u6613\u867d\u7136\u80fd\u653e\u5927\u5229\u6da6\uff0c\u4f46\u4e5f\u4f1a\u653e\u5927\u4ed3\u4f4d\u5207\u6362\u901f\u5ea6\u3002\u5355\u6b21\u91d1\u989d\u8d8a\u5927\uff0c\u7b56\u7565\u8d8a\u6fc0\u8fdb\uff1b\u5355\u6b21\u91d1\u989d\u8d8a\u5c0f\uff0c\u7b56\u7565\u8d8a\u5e73\u7f13\u3002<\/p>\n<h3>3&#46; \u5b83\u51b3\u5b9a\u8d44\u91d1\u5229\u7528\u7387\u662f\u5426\u5408\u7406<\/h3>\n<p>\u8fd8\u6709\u4e00\u4e2a\u9700\u8981\u6ce8\u610f\u7684\u95ee\u9898\u662f\uff1a\u5355\u6b21\u4ea4\u6613\u91d1\u989d\u5fc5\u987b\u548c\u603b\u8d44\u91d1\u89c4\u6a21\u5339\u914d\u3002<\/p>\n<p>\u4f8b\u5982\uff0c\u8d26\u6237\u603b\u8d44\u91d1\u662f\u00a0<code>100\u4e07<\/code>\uff1a<\/p>\n<ul>\n<li>\u5982\u679c\u6bcf\u6b21\u53ea\u4ea4\u6613\u00a0<code>5000\u5143<\/code>\uff0c\u90a3\u4e48\u5373\u4f7f\u4e00\u5929\u89e6\u53d1\u5f88\u591a\u6b21\uff0c\u6574\u4f53\u8d44\u91d1\u53c2\u4e0e\u5ea6\u4e5f\u504f\u4f4e\uff0c\u7b56\u7565\u53ef\u80fd\u663e\u5f97\u8fc7\u4e8e\u4fdd\u5b88\u3002<\/p>\n<\/li>\n<li>\n<p>\u5982\u679c\u6bcf\u6b21\u4ea4\u6613\u00a0<code>20\u4e07<\/code>\uff0c\u90a3\u6bcf\u4e00\u6b21\u89e6\u53d1\u90fd\u4f1a\u8ba9\u4ed3\u4f4d\u53d1\u751f\u660e\u663e\u504f\u79fb\uff0c\u7b56\u7565\u4f1a\u53d8\u5f97\u975e\u5e38\u6fc0\u8fdb\u3002<\/p>\n<\/li>\n<\/ul>\n<h3>\u5982\u4f55\u7406\u89e3\u5b83\u548c\u7f51\u683c\u95f4\u8ddd\u7684\u914d\u5408\u5173\u7cfb<\/h3>\n<p>\u7f51\u683c\u95f4\u8ddd\u548c\u5355\u6b21\u4ea4\u6613\u91d1\u989d\uff0c\u5176\u5b9e\u662f\u4e00\u7ec4\u8054\u52a8\u53c2\u6570\uff1a<\/p>\n<ul>\n<li><strong>\u95f4\u8ddd\u5c0f + \u5355\u6b21\u91d1\u989d\u5927<\/strong>\uff1a\u4ea4\u6613\u4f1a\u975e\u5e38\u9891\u7e41\uff0c\u800c\u4e14\u6bcf\u6b21\u4e0b\u624b\u90fd\u91cd\uff0c\u7b56\u7565\u6700\u6fc0\u8fdb\uff0c\u7f51\u683c\u603b\u5bbd\u5ea6\u5f88\u7a84\u662f\u6700\u5bb9\u6613\u88ab\u6210\u672c\u548c\u6ce2\u52a8\u53cd\u566c\u7684\u7ec4\u5408\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u95f4\u8ddd\u5c0f + \u5355\u6b21\u91d1\u989d\u5c0f<\/strong>\uff1a\u4ea4\u6613\u9891\u7e41\uff0c\u4f46\u6bcf\u6b21\u5f71\u54cd\u8f83\u5c0f\uff0c\u98ce\u9669\u76f8\u5bf9\u5e73\u7f13\uff0c\u4e0d\u8fc7\u5bb9\u6613\u51fa\u73b0\u201c\u5f88\u5fd9\u4f46\u8d5a\u4e0d\u591a\u201d\u7684\u60c5\u51b5\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u95f4\u8ddd\u5927 + \u5355\u6b21\u91d1\u989d\u5927<\/strong>\uff1a\u4ea4\u6613\u6b21\u6570\u5c11\uff0c\u4f46\u6bcf\u6b21\u52a8\u4f5c\u5e45\u5ea6\u5f88\u5927\uff0c\u9002\u5408\u6ce2\u52a8\u5927\u3001\u8d8b\u52bf\u4e0d\u8fde\u7eed\u7684\u73af\u5883\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u95f4\u8ddd\u5927 + \u5355\u6b21\u91d1\u989d\u5c0f<\/strong>\uff1a\u4ea4\u6613\u5f88\u5c11\uff0c\u800c\u4e14\u5355\u6b21\u6536\u76ca\u4e5f\u4e0d\u5927\uff0c\u5bb9\u6613\u8ba9\u7b56\u7565\u6574\u4f53\u5b58\u5728\u611f\u4e0d\u8db3\u3002<\/p>\n<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223808-2covv.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56e0\u6b64\uff0c\u5728\u5b9e\u9645\u8c03\u53c2\u65f6\uff0c\u4e0d\u80fd\u53ea\u5355\u72ec\u5bfb\u627e\u201c\u6700\u4f73\u7f51\u683c\u95f4\u8ddd\u201d\uff0c\u4e5f\u4e0d\u80fd\u53ea\u76ef\u7740\u201c\u6bcf\u6b21\u4e70\u5356\u591a\u5c11\u94b1\u201d\u3002\u66f4\u5408\u7406\u7684\u505a\u6cd5\u662f\u628a\u8fd9\u4e24\u4e2a\u53c2\u6570\u5f53\u6210\u4e00\u4e2a\u6574\u4f53\u53bb\u770b\u3002<\/p>\n<h3>\u91cd\u8981\u5b9e\u9a8c\uff1a\u6211\u4eec\u6765\u7ec4\u4e00\u6b21\u4e8c\u7ef4\u5b9e\u6d4b\uff0c\u628a\u201c\u95f4\u8ddd\u201d\u548c\u201c\u91d1\u989d\u201d\u653e\u5728\u540c\u4e00\u5f20\u6536\u76ca\u9762\u4e0a<\/h3>\n<p>\u4e3a\u4e86\u66f4\u8fdb\u4e00\u6b65\u770b\u6e05\u8fd9\u4e24\u4e2a\u53c2\u6570\u7684\u5173\u7cfb\uff0c\u6211\u505a\u4e86<strong>\u56fa\u5b9a\u7f51\u683c\u7b56\u7565<\/strong>\u4e0b\u7684\u4e8c\u7ef4\u53c2\u6570\u626b\u63cf\u3002\u5f53\u524d\u811a\u672c\u7edf\u4e00\u6309\u65e0\u6ed1\u70b9\u53e3\u5f84\u6267\u884c\uff0c\u6d4b\u8bd5\u7ec4\u5408\u4e3a\uff1a<\/p>\n<ul>\n<li>8\u79cd\u7f51\u683c\u95f4\u8ddd\uff1a<code>0.05% \/ 0.1% \/ 0.3% \/ 0.5% \/ 0.7% \/ 1.0% \/ 2.0% \/ 3.0%<\/code><\/p>\n<\/li>\n<li>\n<p>7\u79cd\u5355\u7b14\u4ea4\u6613\u91d1\u989d\uff1a<code>0.2\u4e07 \/ 0.5\u4e07 \/ 1\u4e07 \/ 2\u4e07 \/ 4\u4e07 \/ 8\u4e07 \/ 12\u4e07<\/code><\/p>\n<\/li>\n<\/ul>\n<p>\u4e5f\u5c31\u662f\u8bf4\uff0c\u811a\u672c\u4e00\u5171\u9884\u8bbe\u4e86\u00a0<code>56<\/code>\u00a0\u7ec4\u53c2\u6570\u7ec4\u5408\uff0c\u7136\u540e\u628a\uff1a<\/p>\n<ul>\n<li><code>x<\/code>\u00a0\u8f74\u8bbe\u4e3a\u7f51\u683c\u95f4\u8ddd<\/p>\n<\/li>\n<li>\n<p><code>y<\/code>\u00a0\u8f74\u8bbe\u4e3a\u5355\u7b14\u4ea4\u6613\u91d1\u989d<\/p>\n<\/li>\n<li>\n<p><code>z<\/code>\u00a0\u8f74\u8bbe\u4e3a\u603b\u6536\u76ca\u7387<\/p>\n<\/li>\n<\/ul>\n<p>\u5f97\u5230\u4e0b\u9762\u8fd9\u5f20\u5b8c\u6574\u4e8c\u7ef4\u65e0\u6ed1\u70b9\u626b\u63cf\u540e\u7684\u771f\u5b9e\u56de\u6d4b\u6536\u76ca\u66f2\u9762\u56fe\uff1a<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-nh0i6.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p><em>\u56fe4\uff1a\u56fa\u5b9a\u7f51\u683c\u7b56\u7565\u4e0b\uff0c\u7f51\u683c\u95f4\u8ddd\u4e0e\u5355\u7b14\u4ea4\u6613\u91d1\u989d\u7684\u6536\u76ca\u66f2\u9762\u3002\u7531\u4e8e\u201c\u4e0d\u8ffd\u9ad8\u3001\u4e0d\u6f02\u79fb\u201d\u7684\u7279\u6027\uff0c\u7b56\u7565\u5728\u7a7a\u4ed3\u540e\u80fd\u591f\u5b8c\u7f8e\u63a5\u56de\u7b79\u7801\uff0c\u4f7f\u5f97\u6781\u5bc6\u7f51\u683c\uff08\u5de6\u4fa7\uff09\u5448\u73b0\u51fa\u66f4\u9ad8\u7684\u8d85\u989d\u6536\u76ca\u3002<\/em><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-rzpgh.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p><em>\u56fe5\uff1a\u6700\u4f18\u53c2\u6570\u7ec4\u5408\u4e0b\u7684\u4ea4\u6613\u660e\u7ec6\u3002<\/em><\/p>\n<p>\u73b0\u5728\u7684\u7f51\u683c\u641c\u7d22\u51fa\u6765\u7684\u7ed3\u679c\u662f\uff0c<strong>\u5cf0\u503c\u843d\u5728\u4e86\u6781\u5c0f\u95f4\u8ddd\u7684\u533a\u57df<\/strong>\u3002\u8fd9\u662f\u56e0\u4e3a\u4e25\u683c\u56fa\u5b9a\u7f51\u683c\u5728\u4e0a\u6da8\u884c\u60c5\u4e2d\u867d\u7136\u4f1a\u5f88\u5feb\u628a\u5e95\u4ed3\u5356\u5149\uff0c\u4f46\u7531\u4e8e<strong>\u7f51\u683c\u5c42\u7ea7\u4e0d\u518d\u5411\u4e0a\u6f02\u79fb<\/strong>\uff0c\u4e00\u65e6\u4ef7\u683c\u51fa\u73b0\u54ea\u6015\u5fae\u5c0f\u7684\u56de\u8c03\uff0c\u5b83\u5c31\u80fd\u7acb\u523b\u5728\u539f\u4ef7\u4f4d\u628a\u7b79\u7801\u63a5\u56de\u6765\u3002\u8fd9\u79cd\u7279\u6027\u4f7f\u5f97\u5bc6\u7f51\u683c\u53d8\u6210\u4e86\u4e00\u53f0\u4e0d\u77e5\u75b2\u5026\u7684\u7f51\u683c\u4ea4\u6613\u5458\uff0c\u5176\u6536\u76ca\u7387\u8d85\u8d8a\u4e86\u9759\u6001\u6301\u6709\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-k6i8j.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p><em>\u56fe6\uff1a\u8f83\u5dee\u53c2\u6570\u7ec4\u5408\uff08\u5927\u7f51\u683c\u95f4\u8ddd\uff09\u4e0b\u7684\u4ea4\u6613\u660e\u7ec6\uff0c\u64cd\u4f5c\u9891\u7387\u5f88\u4f4e\uff0c\u80fd\u5403\u5230\u7684\u7f51\u683c\u4ea4\u6613\u8f83\u5dee\u5229\u6da6\u5c11\uff0c\u4ee5\u81f3\u4e8e\u5230\u540e\u671f\u6ca1\u6709\u7b79\u7801\u518d\u8ffd\u9ad8\u4e86\u3002<\/em><\/p>\n<p><strong>\u4e3a\u4e86\u66f4\u8fdb\u4e00\u6b65\u63a2\u7a76\u80a1\u4ef7\u6574\u4f53\u8d70\u52bf\u5bf9\u53c2\u6570\u8bbe\u7f6e\u7684\u5f71\u54cd\uff0c\u6211\u4eec\u7ee7\u7eed\u63a2\u8ba8\u3002<\/strong><\/p>\n<hr \/>\n<h2>\u4e94\u3001 \u98ce\u9669\u5256\u6790\uff1a\u5355\u8fb9\u884c\u60c5\u4e0b\u7684\u51c0\u503c\u56de\u64a4<\/h2>\n<p>\u7f51\u683c\u4ea4\u6613\u5e38\u88ab\u5ba3\u4f20\u4e3a\u53ef\u4ee5\u201c\u4e0d\u65ad\u644a\u8584\u6210\u672c\u201d\uff0c\u4f46\u5176\u6700\u5927\u7684\u98ce\u9669\u6765\u6e90\u662f<strong>\u5355\u8fb9\u8d8b\u52bf\u884c\u60c5<\/strong>\u3002<\/p>\n<h3>1&#46; \u5355\u8fb9\u4e0a\u6da8\uff1a\u5356\u98de\u7684\u75db\uff0c\u75db\u5f7b\u5fc3\u6249<\/h3>\n<p>\u8fd9\u4e5f\u5c31\u662f\u6211\u4eec\u5e38\u8bf4\u7684\u201c\u5411\u4e0a\u7834\u7f51\u201d\u3002 \u5047\u8bbe\u4f60\u8bbe\u5b9a\u4e86\u4e00\u4e2a\u7f51\u683c\uff0c\u4ef7\u683c\u6bcf\u6da8 1% \u5c31\u5356\u51fa\u4e00\u90e8\u5206\u3002\u5f53\u725b\u5e02\u771f\u7684\u6765\u4e34\uff0c\u80a1\u7968\u4e00\u8fde\u6da8\u4e86 30%\u3002 \u4f60\u7684\u7f51\u683c\u4f1a\u5728\u524d\u9762 10% \u7684\u6da8\u5e45\u91cc\u975e\u5e38\u52e4\u594b\u5730\u201c\u843d\u888b\u4e3a\u5b89\u201d\uff0c\u4f46\u7ed3\u679c\u5c31\u662f\uff1a<strong>\u7b49\u80a1\u7968\u771f\u7684\u5f00\u59cb\u4e3b\u5347\u6d6a\u65f6\uff0c\u4f60\u624b\u91cc\u65e9\u5c31\u6ca1\u8d27\u4e86\u3002<\/strong>\u00a0\u522b\u4eba\u9760\u6b7b\u62ff\u8d5a\u4e86 30%\uff0c\u4f60\u867d\u7136\u6bcf\u6b21\u90fd\u53ea\u8d5a\u4e86 1% \u7684\u5dee\u4ef7\uff0c\u4f46\u6700\u7ec8\u53ea\u5403\u5230\u4e86\u4e2a\u4f4d\u6570\u7684\u603b\u6536\u76ca\u3002\u867d\u7136\u4f60\u6ca1\u4e8f\u94b1\uff0c\u4f46\u5728\u725b\u5e02\u91cc\u773c\u7741\u7741\u770b\u7740\u522b\u4eba\u5927\u8d5a\u800c\u81ea\u5df1\u7a7a\u4ed3\uff0c\u8fd9\u79cd\u201c\u8e0f\u7a7a\u201d\u7684\u5fc3\u7406\u6253\u51fb\uff0c\u5f80\u5f80\u6bd4\u4e8f\u94b1\u8fd8\u96be\u53d7\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-cuxuw.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<h3>2&#46; \u5355\u8fb9\u4e0b\u8dcc\uff1a\u6ee1\u4ed3\u63a5\u98de\u5200\u7684\u7edd\u671b<\/h3>\n<p>\u8fd9\u662f\u771f\u6b63\u4f1a\u8ba9\u4f60\u4e8f\u5927\u94b1\u7684\u201c\u5411\u4e0b\u7834\u7f51\u201d\u3002 \u540c\u6837\uff0c\u5047\u8bbe\u4ef7\u683c\u6bcf\u8dcc 1% \u4f60\u5c31\u4e70\u5165\u4e00\u90e8\u5206\u3002\u5f53\u80a1\u707e\u6216\u4e2a\u80a1\u66b4\u96f7\u53d1\u751f\uff0c\u80a1\u7968\u5f00\u542f\u4e86\u6ca1\u6709\u53cd\u5f39\u7684\u5355\u8fb9\u9634\u8dcc\u3002 \u7f51\u683c\u7cfb\u7edf\u6b64\u65f6\u4f1a\u50cf\u4e2a\u6ca1\u5fc3\u6ca1\u80ba\u7684\u673a\u5668\u4eba\uff0c\u4e00\u8def\u5f80\u4e0b\u63a5\u98de\u5200\u3002\u8dcc 5%\uff0c\u5b83\u4e70\u6ee1\u4e86\u534a\u4ed3\uff1b\u8dcc 10%\uff0c\u5b83\u628a\u4f60\u7684\u5b50\u5f39\u5168\u90e8\u6253\u5149\uff0c\u6ee1\u4ed3\u88ab\u5957\u3002 \u6b64\u65f6\uff0c<strong>\u7f51\u683c\u7cfb\u7edf\u5f7b\u5e95\u762b\u75ea\uff08\u56e0\u4e3a\u6ca1\u94b1\u4e86\uff09<\/strong>\u3002\u66f4\u53ef\u6015\u7684\u662f\uff0c\u63a5\u4e0b\u6765\u5982\u679c\u7ee7\u7eed\u6df1\u8dcc\uff0c\u7531\u4e8e\u4f60\u5df2\u7ecf\u6ee1\u4ed3\uff0c\u6240\u6709\u7684\u4e0b\u8dcc\u90fd\u4f1a 100% \u8f6c\u5316\u4e3a\u4f60\u7684\u672c\u91d1\u4e8f\u635f\u3002\u539f\u6765\u4f60\u672c\u6765\u6253\u7b97\u53ea\u8d5a\u70b9\u201c\u5c0f\u6ce2\u52a8\u201d\u7684\u96f6\u82b1\u94b1\uff0c\u6700\u540e\u5374\u88ab\u8feb\u6210\u4e86\u4e00\u4e2a\u625b\u7740\u5de8\u5927\u4e8f\u635f\u7684\u201c\u957f\u671f\u80a1\u4e1c\u201d\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-ya3s5.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p><strong>\u603b\u7ed3\u6765\u8bf4\uff0c\u7f51\u683c\u4ea4\u6613\u7684\u672c\u8d28\u5c31\u662f\uff1a<\/strong>\u00a0\u4f60\u7528<strong>\u653e\u5f03\u725b\u5e02\u66b4\u5bcc\u7684\u673a\u4f1a\uff08\u5bb9\u6613\u5356\u98de\uff09<\/strong>\uff0c\u4ee5\u53ca<strong>\u627f\u62c5\u718a\u5e02\u6df1\u5957\u7684\u98ce\u9669\uff08\u6ee1\u4ed3\u63a5\u98de\u5200\uff09<\/strong>\u4f5c\u4e3a\u4ee3\u4ef7\uff0c\u53bb\u6362\u53d6\u5728<strong>\u9707\u8361\u5e02\u91cc\u8d5a\u70b9\u7a33\u5b9a\u7684\u8f9b\u82e6\u94b1<\/strong>\u3002\u60f3\u6e05\u695a\u8fd9\u7b14\u4ea4\u6613\u5212\u4e0d\u5212\u7b97\uff0c\u518d\u53bb\u5f00\u542f\u4f60\u7684\u7f51\u683c\u3002<\/p>\n<hr \/>\n<h2>\u516d\u3001 \u4e09\u79cd\u884c\u60c5\u7684\u771f\u5b9e\u56de\u6d4b\u5bf9\u7167<\/h2>\n<p>\u524d\u9762\u8fd9\u90e8\u5206\u8bb2\u7684\u662f\u539f\u7406\uff0c\u4e0b\u9762\u518d\u628a\u201c\u4e0a\u6da8\u3001\u4e0b\u8dcc\u3001\u6a2a\u76d8\u201d\u4e09\u79cd\u5178\u578b\u884c\u60c5\u653e\u5230\u771f\u5b9e\u6837\u672c\u91cc\u5bf9\u7167\u4e00\u6b21\u3002\u8fd9\u6837\u66f4\u5bb9\u6613\u770b\u6e05\uff1a<strong>\u7f51\u683c\u771f\u6b63\u9002\u914d\u7684\u4e0d\u662f\u6da8\u8dcc\u65b9\u5411\u672c\u8eab\uff0c\u800c\u662f\u80cc\u540e\u7684\u6ce2\u52a8\u7ed3\u6784\u3002<\/strong><\/p>\n<h3>1&#46; \u4e0a\u6da8\u884c\u60c5\u6837\u672c<\/h3>\n<p>\u8be5ETF\u6837\u672c\u5c31\u662f\u4e0a\u8fb9\u6211\u4eec\u56de\u6d4b\u4f7f\u7528\u7684\u90a3\u53ea\uff0c\u5728\u8fd9\u6bb5\u533a\u95f4\u6574\u4f53\u4e0a\u6da8\u00a0<code>32.27%<\/code>\uff0c\u5c5e\u4e8e\u5178\u578b\u7684\u504f\u5355\u8fb9\u4e0a\u884c\u6837\u672c\u3002\u5b83\u5e76\u4e0d\u662f\u201c\u5b8c\u5168\u6ca1\u6709\u9707\u8361\u201d\uff0c\u4f46\u4e3b\u5bfc\u529b\u91cf\u660e\u663e\u8fd8\u662f\u8d8b\u52bf\u4e0a\u884c\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-jzvow.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe7\uff1a\u4e0a\u6da8\u6837\u672c\u4ef7\u683c\u8d70\u52bf\uff0c2025-01-01 ~ 2025-11-20<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-wwyie.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p><em>\u56fe8\uff1a\u4e0a\u6da8\u6837\u672c\u8fd0\u884c\u7ed3\u679c\uff1a\u53c2\u6570\u626b\u63cf\u6536\u76ca\u66f2\u9762<\/em><\/p>\n<p>\u8fd9\u4e2a\u6837\u672c\u6700\u503c\u5f97\u6ce8\u610f\u7684\u662f<strong>\u4e0a\u6da8\u8d8b\u52bf\u91cc\u5b83\u5bb9\u6613\u8dd1\u8f93\u6807\u7684\u672c\u8eab<\/strong>\u3002\u8fd9\u6b63\u662f\u4e0a\u6da8\u884c\u60c5\u91cc\u7f51\u683c\u7b56\u7565\u6700\u5178\u578b\u7684\u4ee3\u4ef7\u3002<\/p>\n<h3>2&#46; \u4e0b\u8dcc\u884c\u60c5\u6837\u672c<\/h3>\n<p>\u8be5\u884c\u4e1aETF\u6837\u672c\u5728\u00a0<code>2025-04-01 ~ 2026-03-31<\/code>\u00a0\u533a\u95f4\u5185\u6574\u4f53\u4e0b\u8dcc\u00a0<code>20.22%<\/code>\uff0c\u5c5e\u4e8e\u8fd1\u671f\u6bd4\u8f83\u5178\u578b\u7684\u5f31\u52bf\u4e0b\u884c\u6837\u672c\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-rc3t0.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe9\uff1a\u4e0b\u8dcc\u6837\u672c\u4ef7\u683c\u8d70\u52bf<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-9sk6u.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe10\uff1a\u4e0b\u8dcc\u6837\u672c\u8fd0\u884c\u7ed3\u679c\uff1a\u53c2\u6570\u626b\u63cf\u6536\u76ca\u66f2\u9762<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223809-184uf.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe11\uff1a\u4e0b\u8dcc\u6837\u672c\u6536\u76ca\u66f2\u7ebf<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223810-eoh7i.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe12\uff1a\u4e0b\u8dcc\u6837\u672c\u4ea4\u6613\u660e\u7ec6<\/p>\n<p>\u7b2c\u4e00\uff0c<strong>\u76f8\u8f83\u4e8e\u534a\u4ed3\u9759\u6001\u6301\u6709\uff08\u57fa\u51c6\u4e8f\u635f\u7ea6 -10%\uff09\uff0c\u51e0\u4e4e\u6240\u6709\u7f51\u683c\u53c2\u6570\u7684\u6536\u76ca\u90fd\u66f4\u4f4e\u3002<\/strong>\u8fd9\u662f\u7531\u7f51\u683c\u4ea4\u6613\u201c\u8d8a\u8dcc\u8d8a\u4e70\u201d\u7684\u5de6\u4fa7\u7279\u6027\u51b3\u5b9a\u7684\u3002\u5728\u4e0b\u884c\u8d8b\u52bf\u4e2d\uff0c\u7f51\u683c\u7684\u89e6\u53d1\u7edd\u5927\u591a\u6570\u662f\u4e70\u5165\u52a8\u4f5c\uff0c\u628a\u539f\u672c 50% \u7684\u5e95\u4ed3\u9010\u6e10\u52a0\u91cd\uff0c\u5bfc\u81f4\u5728\u6301\u7eed\u4e0b\u8dcc\u4e2d\u627f\u62c5\u6bd4\u534a\u4ed3\u66f4\u5927\u7684\u8d8b\u52bf\u6d6e\u4e8f\u3002<\/p>\n<p>\u7b2c\u4e8c\uff0c<strong>\u76f8\u8f83\u4e8e\u6ee1\u4ed3\u88ab\u5957\uff08\u8be5\u533a\u95f4\u8dcc\u5e45\u7ea6 -20%\uff09\uff0c\u51e0\u4e4e\u6240\u6709\u7f51\u683c\u53c2\u6570\u7684\u8868\u73b0\u90fd\u66f4\u597d\u3002<\/strong>\u6570\u636e\u8868\u660e\uff0c\u5927\u90e8\u5206\u53c2\u6570\u7ec4\u5408\u7684\u4e8f\u635f\u96c6\u4e2d\u5728 -12% \u5230 -19% \u4e4b\u95f4\uff0c\u5747\u597d\u4e8e\u76f4\u63a5\u6ee1\u4ed3\u7684 -20% \u8dcc\u5e45\u3002\u8fd9\u610f\u5473\u7740\u7f51\u683c\u7b56\u7565\u901a\u8fc7\u5206\u6279\u5efa\u4ed3\u548c\u5076\u5c14\u7684\u53cd\u5f39\u9ad8\u629b\uff0c\u786e\u5b9e\u5728\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u51cf\u7f13\u4e86\u5355\u8fb9\u4e0b\u8dcc\u7684\u52bf\u5934\uff0c\u8d77\u5230\u4e86\u7f13\u51b2\u57ab\u7684\u4f5c\u7528\u3002<\/p>\n<p>\u7b2c\u4e09\uff0c<strong>\u5bf9\u4e8e\u4e0b\u8dcc\u8d8b\u52bf\u7684\u6807\u7684\uff0c\u76f8\u5bf9\u9ad8\u6536\u76ca\uff08\u5373\u201c\u6700\u5c11\u4e8f\u635f\u201d\uff09\u96c6\u4e2d\u5728\u3010\u5927\u7f51\u683c\u95f4\u8ddd\u3011\u7684\u533a\u57df\u3002<\/strong>\u8fd9\u662f\u56e0\u4e3a\uff1a\u5728\u5355\u8fb9\u4e0b\u8dcc\u4e2d\uff0c\u201c\u9632\u5b88\u201d\u6bd4\u201c\u8fdb\u653b\u201d\u66f4\u91cd\u8981\u3002\u5927\u95f4\u8ddd\uff08\u5982 2.0% \u6216 3.0%\uff09\u8db3\u591f\u8fdf\u949d\uff0c\u5b83\u6700\u5927\u7a0b\u5ea6\u5730\u51cf\u5c11\u4e86\u5728\u9634\u8dcc\u9014\u4e2d\u7684\u65e0\u6548\u52a0\u4ed3\u52a8\u4f5c\uff0c\u907f\u514d\u4e86\u6781\u901f\u6ee1\u4ed3\u88ab\u5957\uff1b\u800c\u914d\u5408\u8f83\u5927\u7684\u5355\u7b14\u4ea4\u6613\u91d1\u989d\uff0c\u5219\u80fd\u5728\u6807\u7684\u771f\u6b63\u8dcc\u900f\u5e76\u51fa\u73b0\u53cd\u62bd\u65f6\uff0c\u901a\u8fc7\u91cd\u62f3\u51fa\u51fb\u69a8\u53d6\u7edd\u5bf9\u5229\u6da6\u6765\u6709\u6548\u5bf9\u51b2\u5e95\u4ed3\u7684\u4e8f\u635f\u3002<\/p>\n<h3>3&#46; \u6a2a\u76d8\u884c\u60c5\u6837\u672c<\/h3>\n<p>\u8be5\u6837\u672c\u8fd9\u6bb5\u533a\u95f4\u7684\u671f\u672b\u6da8\u8dcc\u53ea\u6709\u00a0<code>-0.27%<\/code>\uff0c\u4f46\u632f\u5e45\u4ecd\u6709\u00a0<code>52.4%<\/code>\uff0c\u662f\u6bd4\u8f83\u6807\u51c6\u7684\u201c\u65b9\u5411\u4e0d\u5f3a\u3001\u6ce2\u52a8\u8fd8\u5728\u201d\u7684\u6a2a\u76d8\u6837\u672c\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223810-byvj9.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe11\uff1a\u6a2a\u76d8\u6837\u672c\u4ef7\u683c\u8d70\u52bf<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223810-qccab.png\" alt=\"\u56fe\u7247\" \/><\/p>\n<p>\u56fe12\uff1a\u6a2a\u76d8\u6837\u672c\u8fd0\u884c\u7ed3\u679c\uff1a\u53c2\u6570\u626b\u63cf\u6536\u76ca\u66f2\u9762<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/khsci.com\/khQuant\/wp-content\/uploads\/2026\/06\/image-20260602-223810-gg143.png\" alt=\"\u56fe\u7247\" 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