83988377某精密零部件公司SWOT分析

1、某精密零部件公司swot分析swot分析是對企業(yè)自身的優(yōu)勢s、劣勢w和企業(yè)所面臨的機(jī)會o、威脅t的判斷來確定企業(yè)的戰(zhàn)略地位。下圖為xx的swot分析。優(yōu)勢strength劣勢weakness1.成本優(yōu)勢2.團(tuán)結(jié)拼搏的優(yōu)秀傳統(tǒng)3.戰(zhàn)略素養(yǎng)強(qiáng)的領(lǐng)導(dǎo)班子4.穩(wěn)定的員工隊伍5.長期良好的經(jīng)濟(jì)效益宏明雙新swot分析6.模具研發(fā)+電鍍零組件生產(chǎn)的模式1.產(chǎn)品品種較少，產(chǎn)品域過于狹窄2.客戶結(jié)構(gòu)不合理3.管理水平跟不上企業(yè)的快速發(fā)展4.零組件自主設(shè)計研發(fā)能力較低5.企業(yè)規(guī)模不大6.離客戶空間距離較遠(yuǎn)1.國內(nèi)3c行業(yè)及相關(guān)行業(yè)繼續(xù)發(fā)展，帶動精密零組件旺盛的需求2.產(chǎn)業(yè)升級促進(jìn)國內(nèi)市場需求向新優(yōu)產(chǎn)品方向變化3

2、.外企來華投資尋找合作伙伴增多，全球性的國際合作可能性增大4.國內(nèi)資本證券市場開放與成熟，證券融資機(jī)會多1.國內(nèi)市場競爭加劇2.競爭對手技術(shù)創(chuàng)新3.國際公司加快進(jìn)入國內(nèi)市場4原材料漲價5匯率風(fēng)險機(jī)會 opportunity威脅 threat1優(yōu)勢分析1）模具研發(fā)優(yōu)勢擁有各種規(guī)模的精密模具，是國有較早研發(fā)生產(chǎn)模具的企業(yè)；擁有強(qiáng)大的模具研發(fā)隊伍，較強(qiáng)的模具研發(fā)能力，精密零組件款式豐富，能滿足3c等電子領(lǐng)域多種精密零組件的需求。2）文化優(yōu)勢公司在長期的發(fā)展中，形成“協(xié)作奮進(jìn)正直學(xué)習(xí)創(chuàng)新”的精神文化，這是xx寶貴的財富，是xx發(fā)展壯大、走向輝煌的法寶。3）領(lǐng)導(dǎo)班子優(yōu)勢公司領(lǐng)導(dǎo)班子使命感強(qiáng)，戰(zhàn)略視野寬，

3、創(chuàng)新意識濃厚。班子成員團(tuán)結(jié)一致，勤奮刻苦，深受企業(yè)員工的擁護(hù)，是xx的凝聚力之核心、活力之源泉。4）人力資源優(yōu)勢公司擁有一批對企業(yè)忠誠的老員工和模具技術(shù)精英，他們?yōu)楣镜陌l(fā)展做出了巨大貢獻(xiàn)；其次，近幾年引進(jìn)了一些有創(chuàng)新精神的高級管理及工程技術(shù)方面的新員工。5）成本優(yōu)勢相對于競爭對手而言，xx地處西部的四川省份，相對于沿海地區(qū)而言人力資本及相關(guān)的生產(chǎn)要素成本較低。6）“研產(chǎn)”優(yōu)勢公司在長期的發(fā)展中，適時調(diào)整戰(zhàn)略重點(diǎn)，形成了“較強(qiáng)的精密模具研發(fā)能力零件批量市場能力”，這為xx迅速響應(yīng)市場，滿足需求提供了保障。2劣勢分析1）產(chǎn)品組合劣勢產(chǎn)品線過于集中在手機(jī)精密零件上，單一產(chǎn)品經(jīng)營 ，產(chǎn)品抗風(fēng)險能力較

4、弱。2）客戶結(jié)構(gòu)劣勢客戶數(shù)目較少，且分布過于集中，主要大客戶消費(fèi)公司大部分產(chǎn)品，對大客戶的依賴性較強(qiáng)，在商業(yè)談判中處于劣勢。3）管理水平劣勢xx是計劃經(jīng)濟(jì)時期誕生的企業(yè)，雖然經(jīng)過長期的堅持企業(yè)制度的改革，并取得了明顯的效果，但管理理念、管理方法等與國際一流企業(yè)的水平還存在較大差距。4)自主研發(fā)劣勢精密零件是xx發(fā)展重點(diǎn)，但是精密零件主要是客戶來圖應(yīng)用研發(fā)，自主設(shè)計研發(fā)能力有限，缺乏精密零件基礎(chǔ)研發(fā)能力。5）企業(yè)規(guī)模劣勢雖然xx在業(yè)內(nèi)規(guī)模處于前茅，但國外同行大型企業(yè)相比，生產(chǎn)、經(jīng)營規(guī)模仍有較大差距。6）區(qū)位劣勢公司地處內(nèi)陸城市，雖然人力成本較低，但由于距離客戶較遠(yuǎn)，在獲取客戶信息、吸引優(yōu)秀人才、

5、運(yùn)輸成本等方面處于劣勢。3機(jī)會分析1）3c行業(yè)需求3c行業(yè)及相關(guān)行業(yè)繼續(xù)發(fā)展，帶動精密零組件旺盛的市場需求。07年預(yù)計手機(jī)產(chǎn)量增長10以上，將達(dá)12億只。手機(jī)、計算機(jī)、汽車等產(chǎn)量的穩(wěn)步增長，保持對精密零件的旺盛需求2）產(chǎn)業(yè)升級產(chǎn)業(yè)升級促進(jìn)國內(nèi)市場需求向新優(yōu)產(chǎn)品方向變化，高端產(chǎn)品需求將越來越大。3）行業(yè)產(chǎn)品標(biāo)準(zhǔn)隨著rosh的推行，公司無鉛電鍍產(chǎn)品可擴(kuò)大市場份額。4）國外產(chǎn)業(yè)轉(zhuǎn)移隨著我國逐步融入全球經(jīng)濟(jì)一體化，更多的國外企業(yè)到國內(nèi)投資設(shè)廠，它們對精密零件等配件質(zhì)量要求很高，這將給公司提供與它們進(jìn)行精密模具零件件本土化的機(jī)會。5）行業(yè)整合3c廠商專注于其主業(yè)和核心競爭力，有意將其非核心業(yè)務(wù)外包或割離

6、，需要尋找合作伙伴，這為公司垂直整合、由oem向odm發(fā)展提供了機(jī)會。6）客戶結(jié)構(gòu)變化byd成為moto、nokia的odm供應(yīng)商后，可借機(jī)進(jìn)入到 moto和nokia的其他產(chǎn)品領(lǐng)域以改變我司產(chǎn)品結(jié)構(gòu)。德國大陸公司收購moto汽車電子，有利于公司擴(kuò)大市場份額。7）證券市場國內(nèi)資本證券市場開放與成熟，中小高科技企業(yè)政策的完善，實現(xiàn)上市融資的機(jī)會很大。4威脅分析1）競爭加劇精密零件行業(yè)旺盛的需求和較高的利潤率，吸引新廠商不斷加入，這使得競爭加劇，價格進(jìn)一步下降。2）競爭對手技術(shù)創(chuàng)新公司目前雖然在精密模具研發(fā)、精密零組件制造工藝等方面處于全國領(lǐng)先水平，但由于其利潤率相對較高，其他廠家正加大對精密模具

7、零件技術(shù)的研究開發(fā)力度。如果xx新技術(shù)開發(fā)滯后，將可能失去現(xiàn)有技術(shù)優(yōu)勢地位。 3）國際公司加快進(jìn)入國內(nèi)市場隨著國內(nèi)市場開放度的提高，進(jìn)口關(guān)稅逐步降低，國外精密模具零件越來越多地涌入國內(nèi)市場，加之跨國精密模具零件公司可能來我國投資辦廠，就地銷售，其產(chǎn)品成本與國產(chǎn)產(chǎn)品成本差距縮小，將使國內(nèi)精密零件行業(yè)競爭更加激烈，企業(yè)競爭壓力加大。4）原材料漲價近年，由于鋼、鐵、銅等原材料價格居高不下，增加了公司的生產(chǎn)成本，降低公司產(chǎn)品的成本優(yōu)勢，進(jìn)而影響公司產(chǎn)品在市場上的競爭力。5）匯率風(fēng)險人民幣不斷升值，公司進(jìn)行海外貿(mào)易的匯率風(fēng)險增大。內(nèi)部資料，請勿外傳！9jwkffwvg#tym*jg&6a*cz7h$dq

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24、x2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqvadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk

25、8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk

26、8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&

27、muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz84!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt

28、#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxg

29、jqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%madnu#kn&muwfa5uxy7jnd6ywr

30、rwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*adnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn

31、&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn

32、&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrw

33、wcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz84!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amy

34、wpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amy

35、wpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5

36、uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnugk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum&g

37、txrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpaza

38、dnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu

39、#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx

40、2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mzad

41、nu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcadnu#kn&muwfa5uxy7jnd6ywrrw

42、wcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z8

43、9amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5ux

44、gjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5ux

45、y7jnd6ywrrwwcvr9cpbk!zn%mz84!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ks

46、v*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*

47、3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnugk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5

48、pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd

49、6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqvue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amyw

50、v*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$

51、ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd

52、6ywrrwwcvr9cpbk!zn%mz84!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tn

53、gk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk

54、8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnugk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2z

55、vkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrr

56、wwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv84!z89amv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv

57、*3tngk8!z89amywpazadnu#kn&muwfa5uxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$ue9wewz#qcue%&qypeh5pdx2zvkum>xrm6x4ngpp$vstt#&ksv*3tngk8!z89amywv*3tngk8!z89amywpazadnu#kn&muwfa5uxy7jnd6ywrrwwcvr9cpbk!zn%mz849gxgjqv$u*3t