{"id":989,"date":"2020-04-14T00:00:00","date_gmt":"2020-04-14T00:00:00","guid":{"rendered":"https:\/\/moore-hong-kong.row.moore-global.com\/news\/valuation-considerations-amid-the-covid-19-crisis\/"},"modified":"2026-02-03T15:24:08","modified_gmt":"2026-02-03T07:24:08","slug":"valuation-considerations-amid-the-covid-19-crisis","status":"publish","type":"post","link":"https:\/\/www.moore.hk\/zh_hk\/news\/valuation-considerations-amid-the-covid-19-crisis\/","title":{"rendered":"\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2COVID-19\u4e2d\u7684\u4f30\u503c\u8003\u616e?"},"content":{"rendered":"

\u81ea\u4eca\u5e742\u6708\u4efd\u4ee5\u4f86\uff0c\u4e16\u754c\u5404\u5730\u7684\u7d93\u6fdf\u6d3b\u52d5\u53d7\u5230\u4e86\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u75ab\u60c5\u7684\u56b4\u91cd\u5f71\u97ff\u3002\u5404\u570b\u653f\u5e9c\u7d1b\u7d1b\u5be6\u65bd\u56b4\u53b2\u7684\u65c5\u884c\u7981\u4ee4\u548c\u6aa2\u75ab\u63aa\u65bd\uff0c\u751a\u81f3\u5404\u7a2e\u5546\u696d\u71df\u904b\u9650\u5236\uff0c\u4ee5\u904f\u5236\u75c5\u6bd2\u7684\u9ad8\u901f\u50b3\u64ad\u3002\u9019\u4e9b\u7a2e\u7a2e\u63aa\u65bd\u5c0e\u81f4\u5e02\u5834\u51fa\u73fe\u524d\u6240\u672a\u6709\u7684\u6ce2\u52d5\uff0c\u80a1\u7968\u5e02\u5834\u66f4\u51fa\u73fe\u9023\u7e8c\u6578\u5929\u9ad8\u905410%\u7684\u6ce2\u5e45\u3002\n\u5728\u4f30\u503c\u5c64\u9762\u4e0a\uff0c\u6ce2\u52d5\u7387\u662f\u4e00\u500b\u5c0d\u98a8\u96aa\u548c\u8cc7\u7522\u5b9a\u50f9\u7684\u95dc\u9375\u53c3\u6578\u3002\u4f46\u662f\uff0c\u9452\u65bc\u75ab\u60c5\u4ecd\u5728\u4e0d\u65b7\u5730\u767c\u5c55\uff0c\u751a\u81f3\u5728\u53ef\u898b\u7684\u5c07\u4f86\u4f3c\u4e4e\u770b\u4e0d\u898b\u76e1\u982d\uff0c\u73fe\u6642\u5728\u8cc7\u7522\u4f30\u503c\u6642\u5982\u4f55\u91cf\u5316\u98a8\u96aa\u7684\u78ba\u751a\u5177\u6311\u6230\u3002<\/p>\n

\u5f8c\u898b\u4e4b\u660e<\/u>
\n\u96d6\u7136\u4e16\u754c\u885b\u751f\u7d44\u7e54(WHO)\u6700\u521d\u65bc2019\u5e7412\u670831\u65e5 \u901a\u5831<\/a>\u4e86\u4e00\u9023\u4e32\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u75c5\u4f8b\uff0c\u4f46\u76f4\u52302020\u5e741\u670830\u65e5\u624d\u5ba3\u4f48\u75ab\u60c5\u70ba\u4e00\u5834\u5168\u7403\u5927\u6d41\u884c\u3002\u5404\u570b\u96a8\u5373\u63a1\u53d6\u66f4\u56b4\u683c\u7684\u63aa\u65bd\u4ee5\u904f\u5236\u75c5\u6bd2\u50b3\u64ad\uff0c\u4ee4\u6295\u8cc7\u8005\u66f4\u6182\u616e\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u5c0d\u7d93\u6fdf\u6d3b\u52d5\u5c07\u5e36\u4f86\u7684\u6f5b\u5728\u5f71\u97ff\u3002\u5728\u4f30\u503c\u6280\u8853\u5c64\u9762\u4e0a\uff0c\u6211\u5011\u61c9\u8a72\u6ce8\u610f\u6bcf\u500b\u4f30\u503c\u90fd\u662f\u5c0d\u61c9\u8457\u4e00\u500b\u7279\u5b9a\u5df2\u904e\u53bb\u7684\u4f30\u503c\u57fa\u6e96\u65e5\u800c\u9032\u884c\u7684\uff0c\u4f30\u503c\u5e2b\u53ea\u80fd\u4f9d\u8cf4\u65bc\u8a72\u65e5\u5df2\u77e5\u7684\u4fe1\u606f\u6216\u5df2\u9810\u671f\u7684\u5c55\u671b\u4f86\u884c\u4f30\u7b97\u3002\u63db\u53e5\u8a71\u8aaa\uff0c\u5f9e\u5e02\u5834\u53c3\u8207\u8005\u7684\u89d2\u5ea6\u4f86\u770b\uff0c\u4e00\u4e9b\u4f30\u503c\u57fa\u6e96\u65e5\u5f8c\u624d\u51fa\u73fe\u7684\u4fe1\u606f\u4e26\u4e0d\u61c9\u8a72\u53cd\u6620\u5728\u8a72\u4f30\u503c\u4e2d\u3002 \u7279\u5b9a\u65e5\u671f<\/strong>, \u4e14\u53ea\u61c9\u4f9d\u8cf4\u7576\u65e5\u5df2\u77e5\u6216\u53ef\u53d6\u5f97\u4e4b\u8cc7\u8a0a\u6216\u9810\u671f\u3002\u63db\u53e5\u8a71\u8aaa\uff0c\u5f9e\u5e02\u5834\u53c3\u8207\u8005\u7684\u89d2\u5ea6\u4f86\u770b\uff0c\u901a\u5e38\u4e0d\u5141\u8a31\u5728\u4f30\u503c\u4e2d\u4f7f\u7528\u5f8c\u898b\u4e4b\u660e\uff08\u53c8\u7a31\u4e8b\u5f8c\u8cc7\u8a0a\uff09\u3002.<\/p>\n

\u56e0\u6b64\uff0c\u5c0d\u65bc\u4e00\u4e9b\u4ee5\u6703\u8a08\u53c3\u8003\u4f5c\u70ba\u76ee\u7684\uff0c\u4f30\u503c\u57fa\u6e96\u65e5\u8a2d\u5b9a\u70ba2019\u5e7412\u670831\u65e5\u7684\u4f30\u503c\uff0c\u4f8b\u5982\u516c\u5141\u50f9\u503c\u8a08\u3001\u6e1b\u503c\u6e2c\u8a66\u3001\u9810\u671f\u4fe1\u7528\u640d\u5931\u6216\u5176\u4ed6\u4f30\u503c\u985e\u578b\uff0c\u6839\u64da\u7576\u6642\u7684\u5df2\u77e5\u8a0a\u606f\u800c\u8a00\uff0c\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u7406\u61c9\u5c0d\u5b83\u5011\u4ecd\u672a\u7522\u751f\u986f\u8457\u7684\u5f71\u97ff\u3002\u53cd\u800c\uff0c\u7531\u65bc\u5e74\u7d42\u65e5\u671f\u548c\u5831\u544a\u65e5\u671f\u901a\u5e38\u6703\u9593\u9694\u8457\u4e00\u6bb5\u6642\u9593\uff0c\u4e0a\u5e02\u516c\u53f8\u6216\u6709\u53ef\u80fd\u9700\u8981\u6839\u64daIAS 10-\u5831\u5c0e\u671f\u9593\u5f8c\u4e8b\u9805\u5c0d\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u6240\u5e36\u4f86\u7684\u5f71\u97ff\u9032\u884c\u76f8\u95dc\u62ab\u9732\u3002\u5c31\u53e6\u5916\u4e00\u500b\u666e\u904d\u7684\u8ca1\u653f\u5e74\u5ea6\u7d50\u675f\u65e5\u671f2020\u5e743\u670831\u65e5\u4f86\u8aaa\uff0c\u6211\u5011\u9810\u671f\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u5c0d\u76f8\u95dc\u4f30\u503c\u7684\u5f71\u97ff\u5c07\u9010\u6f38\u6d6e\u73fe\u3002 \u5831\u544a\u671f\u5f8c\u4e8b\u9805<\/em> \u53ef\u80fd\u53cd\u800c\u9700\u8981\u3002\u5c0d\u65bc 2020 \u5e74 3 \u6708 31 \u65e5\u7684\u4f30\u503c\uff08\u9019\u662f\u53e6\u4e00\u500b\u71b1\u9580\u7684\u8ca1\u653f\u5e74\u5ea6\u7d50\u675f\u65e5\u671f\uff09\uff0cCOVID-19 \u7684\u5f71\u97ff\u61c9\u5728\u5be6\u969b\u4f30\u503c\u4e2d\u767c\u63ee\u95dc\u9375\u4f5c\u7528\u3002.<\/p>\n

\u9084\u539f\u57fa\u672c\u6b65-\u4f30\u503c\u57fa\u790e<\/u>
\n\u5728 IFRS 13 - \u516c\u5141\u50f9\u503c\u8861\u91cf\u4e2d<\/em>\uff0c\u516c\u5141\u50f9\u503c\u7684\u5b9a\u7fa9\u70ba\u201c\u5e02\u5834\u53c3\u8207\u8005\u9593\u5728\u6709\u79e9\u5e8f\u4e4b\u4ea4\u6613\u4e2d\u51fa\u552e\u8cc7\u7522\u6240\u80fd\u6536\u53d6\u6216\u79fb\u8f49\u8ca0\u50b5\u6240\u9700\u652f\u4ed8\u4e4b\u50f9\u683c\u201d<\/em>\u3002\u9019\u5b9a\u7fa9\u5305\u542b\u4e86\u8cc7\u7522\u7684\u4e3b\u8981\u5e02\u5834(\u5982\u6c92\u6709\uff0c\u5247\u70ba\u6700\u6709\u5229\u7684\u5e02\u5834)\u4ee5\u53ca\u8cc7\u7522\u7684\u6700\u9ad8\u548c\u6700\u4f73\u4f7f\u7528\u7684\u5047\u8a2d\u3002\u96a8\u8457\u65b0\u578b\u51a0\u72c0\u75c5\u75ab\u60c5\u7684\u767c\u5c55\uff0c\u6211\u5011\u61c9\u91cd\u65b0\u5be9\u8996\u9019\u4e9b\u5047\u8a2d\u7684\u6709\u6548\u6027\uff0c\u4e26\u9069\u6642\u9032\u884c\u76f8\u61c9\u8abf\u6574\u3002<\/p>\n

\u53e6\u5916\uff0c\u6211\u5011\u9084\u610f\u8b58\u5230\u5728\u5e02\u5834\u6ce2\u52d5\u6027\u52a0\u5287\u7684\u60c5\u6cc1\u4e0b\uff0c\u56e0\u70ba\u7a2e\u7a2e\u539f\u56e0\uff0c\u4f8b\u5982\u65c5\u904a\u9650\u5236\u5f71\u97ff\u5230\u76e1\u8077\u8abf\u67e5\u5de5\u4f5c\u7684\u9032\u884c\uff0c\u5e02\u5834\u53c3\u8207\u8005\u7684\u4ea4\u6613\u610f\u6b32\u6e1b\u5c11\uff0c\u5e02\u5834\u6d41\u52d5\u6027\u96a8\u8457\u964d\u4f4e\u3002\u7121\u5e02\u5834\u6d41\u901a\u6027\u6298\u50f9(DLOM)<\/strong>\u7684\u589e\u52a0\u5c07\u5c0d\u8cc7\u7522\u548c\u8ca0\u50b5\u7684\u516c\u5141\u50f9\u503c\u7522\u751f\u8ca0\u9762\u5f71\u97ff\uff0c\u5118\u7ba1\u5177\u9ad4\u4f7f\u7528\u4ec0\u9ebc\u7a0b\u5ea6\u7684\u6298\u50f9\u9084\u662f\u9700\u8981\u4f9d\u8cf4\u76f8\u95dc\u7684\u5b78\u8853\u7814\u7a76\u548c\u4f30\u503c\u5e2b\u7684\u5c08\u696d\u5224\u65b7\u3002\u5c0d\u65bc\u4ee5\u516c\u5141\u50f9\u503c\u6e1b\u51fa\u552e\u6210\u672c(FVLCOD)\u70ba\u57fa\u790e\u7684\u4f30\u503c\uff0c\u9810\u671f\u4f30\u503c\u7d50\u679c\u4ea6\u6703\u53d7\u5230\u4ea4\u6613\u6210\u672c\u589e\u52a0\u6240\u5f71\u97ff\u3002<\/p>\n

\u53e6\u4e00\u65b9\u9762\uff0c\u4f7f\u7528\u50f9\u503c(value in use)\u7684\u4f30\u503c\u6709\u4e00\u5957\u4e0d\u540c\u7684\u8655\u7406\u624b\u6cd5\u3002\u5728IAS 36 - \u8cc7\u7522\u6e1b\u503c\u4e2d\uff0c\u4f7f\u7528\u50f9\u503c\u7684\u5b9a\u7fa9\u70ba\u201c\u9810\u671f\u5f9e\u8cc7\u7522\u7684\u6301\u7e8c\u4f7f\u7528\u548c\u4f7f\u7528\u671f\u9650\u7d50\u675f\u6642\u7684\u8655\u7f6e\u4e2d\u5f62\u6210\u7684\u4f30\u8a08\u672a\u4f86\u73fe\u91d1\u6d41\u91cf\u7684\u73fe\u503c\u201d \uff0c\u7576\u4e2d\u6bcb\u9808\u8003\u616e\u8cc7\u7522\u7684\u201c\u8f49\u79fb\u201d\u6216\u201c\u4ea4\u6362\u201d\u7684\u57fa\u790e\uff0c\u800c\u53ea\u8457\u91cd\u65bc\u73fe\u91d1\u6d41\u9810\u6e2c\u53ca\u5176\u6298\u73fe\u3002\u5728\u9810\u6e2c\u73fe\u91d1\u6d41\u6298\u73fe\u6642\uff0c\u6211\u5011\u6700\u91cd\u8981\u7684\u662f\u78ba\u4fdd\u73fe\u91d1\u6d41\u9810\u6e2c\u4e2d\u7ba1\u7406\u5c64\u7684\u9810\u7b97\u662f\u5408\u7406\u53ca\u5177\u76f8\u95dc\u4f9d\u64da\u7684\uff0c\u800c\u4e14\u6298\u73fe\u7387\u7684\u8a08\u7b97\u4e5f\u662f\u5efa\u57fa\u65bc\u8207\u73fe\u91d1\u6d41\u9810\u6e2c\u4e00\u81f4\u7684\u5047\u8a2d\u3002\u4e8b\u5be6\u4e0a\uff0c\u985e\u4f3c\u7684\u4e00\u81f4\u6027\u539f\u5247\u4e5f\u9069\u7528\u65bc\u6536\u5165\u6cd5\u4e0b\u7684\u516c\u5141\u50f9\u503c\u4f30\u503c\u3002<\/p>\n

\u5fc5\u8981\u5831\u916c\u7387\u548c\u4fe1\u7528\u8a55\u4f30<\/u>
\n\u5728\u4f01\u696d\u4f30\u503c\u4e2d\uff0c\u8cc7\u672c\u8cc7\u7522\u5b9a\u50f9\u6a21\u578b(CAPM)\u662f\u4e00\u500b\u88ab\u5ee3\u6cdb\u63a1\u7528\u7684\u57fa\u672c\u6a21\u578b\uff0c\u7528\u65bc\u8a08\u7b97\u51fa\u80a1\u672c\u6295\u8cc7\u56de\u5831\u7387(\u53c8\u7a31\u80a1\u672c\u6210\u672c)\u3002\u5f97\u5230\u80a1\u672c\u6210\u672c\u5f8c\uff0c\u6839\u64da\u4f01\u696d\u7684\u8cc7\u672c\u7d50\u69cb\uff0c\u628a\u80a1\u672c\u6210\u672c\u8207\u501f\u8cb8\u5229\u7387(\u4e5f\u7a31\u70ba\u50b5\u52d9\u6210\u672c)\u7d50\u5408\uff0c\u4fbf\u53ef\u4ee5\u5f97\u51fa\u52a0\u6b0a\u5e73\u5747\u8cc7\u672c\u6210\u672c<\/strong>(WACC)\u4ee5\u7528\u65bc\u6298\u73fe\u9810\u8a08\u7684\u73fe\u91d1\u6d41\u91cf\uff0c\u7e7c\u800c\u5f97\u51fa\u4f01\u696d\u7684\u4f30\u503c\u3002<\/p>\n

\u4f46\u9452\u65bc\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u7684\u98a8\u96aa\u81f3\u5c11\u65bc\u77ed\u671f\u5167\u66ab\u6642\u4e0d\u53ef\u5206\u6563\uff0cCAPM\u4f3c\u4e4e\u5df2\u7121\u6cd5\u5145\u5206\u53cd\u6620\u51a0\u72c0\u75c5\u6bd2\u6240\u5e36\u4f86\u7684\u984d\u5916\u98a8\u96aa\u3002\u5c31\u5982\u5927\u591a\u6578\u4f30\u503c\u5be6\u4f8b\u4e2d\uff0c\u6211\u5011\u6703\u5148\u4ee5CAPM\u8a08\u7b97\u51fa\u7406\u8ad6\u7684\u80a1\u672c\u6210\u672c\uff0c\u7136\u5f8c\u518d\u8003\u616e\u516c\u53f8\u898f\u6a21\u6ea2\u50f9\u548c\u7279\u5b9a\u98a8\u96aa\u6ea2\u50f9\u3002\u5728\u985e\u4f3c\u8003\u616e\u4e0b\uff0c\u6211\u5011\u4e5f\u8a31\u61c9\u8a72\u52a0\u5165\u4e00\u500b\u95dc\u65bc \u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u98a8\u96aa\u6ea2\u50f9<\/strong> \u3002\u7531\u65bc\u4e26\u975e\u6240\u6709\u4f01\u696d\u548c\u884c\u696d\u90fd\u53d7\u5230\u76f8\u540c\u7a0b\u5ea6\u7684\u5f71\u97ff\uff0c\u5728\u7406\u60f3\u60c5\u6cc1\u4e0b\uff0c\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u98a8\u96aa\u6ea2\u50f9\u61c9\u8a72\u6839\u64da\u4f01\u696d\u7279\u5b9a\u7684\u5be6\u969b\u60c5\u6cc1\u548c\u5e02\u5834\u6578\u64da\u4f86\u5236\u5b9a\u3002<\/p>\n

\u53e6\u4e00\u65b9\u9762\uff0c\u6709\u90e8\u5206\u4f01\u696d\u7684\u696d\u52d9\u53d7\u5230\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u56b4\u91cd\u5f71\u97ff\uff0c\u9019\u6216\u5c0e\u81f4\u4ed6\u5011\u9055\u53cd\u50b5\u52d9\u5951\u7d04\uff0c\u4ee5\u53ca\u9280\u884c\u6216\u5176\u4ed6\u50b5\u6b0a\u4eba\u7684\u501f\u6b3e\u689d\u4ef6\u3002\u7c21\u55ae\u4f86\u8aaa\uff0c\u5b83\u5011\u7684\u9810\u671f\u4fe1\u8cb8\u72c0\u6cc1\u5c07\u6703\u8b8a\u5dee\u3002\u5728\u9032\u884c\u6216\u66f4\u65b0\u4f30\u503c\u6642\uff0c\u6211\u5011\u61c9\u5be9\u8996\u5b83\u5011\u7576\u524d\u6216\u9810\u671f\u7684\u501f\u8cb8\u5229\u7387\uff0c\u4ee5\u8a55\u4f30\u4ed6\u5011\u7684\u50b5\u52d9\u6210\u672c\u6709\u5426\u9700\u8981\u4f5c\u51fa\u76f8\u61c9\u7684\u8abf\u6574\uff0c\u5f9e\u800c\u6b78\u7d0d\u51fa\u4e00\u500b\u5408\u9069\u7684WACC\u4ee5\u53cd\u6620\u4f01\u696d\u9810\u671f\u6240\u9762\u5c0d\u7684\u98a8\u96aa\u6216\u8cc7\u91d1\u6210\u672c\u3002<\/p>\n

\u6b64\u5916\uff0c\u81eaIFRS 9\u65bc2018\u5e74\u751f\u6548\u4ee5\u4f86\uff0c\u4f01\u696d\u9700\u8981\u8a55\u4f30\u4e26\u5831\u544a\u91d1\u878d\u5de5\u5177\u7684\u9810\u671f\u4fe1\u7528\u640d\u5931 (ECL)\u3002\u8a72\u8a55\u4f30\u9700\u8981\u7d50\u5408\u904e\u53bb\u4e8b\u4ef6\uff0c\u7576\u524d\u72c0\u6cc1\u548c\u9810\u6e2c\u7d93\u6fdf\u72c0\u6cc1\u7684\u6700\u4f73\u53ef\u7528\u4fe1\u606f\u3002\u7576\u4e2d\u81f3\u95dc\u91cd\u8981\u7684\u662f\u6839\u64da\u767c\u884c\u4eba\u7684\u8a55\u7d1a\u8b8a\u5316\u6216\u4fe1\u7528\u60e1\u5316\u4f86\u5224\u65b7\u4ed6\u5011\u7684\u4fe1\u7528\u98a8\u96aa\u6709\u5426\u986f\u8457\u589e\u52a0\uff0c\u4ee5\u53ca\u6c7a\u5b9a\u5728\u8ca1\u52d9\u5831\u8868\u4e2d\u5831\u544a\u5168\u671f\u9810\u671f\u4fe1\u7528\u640d\u5931(Lifetime ECL)\u6216\u662f12\u500b\u6708\u7684\u9810\u671f\u4fe1\u7528\u640d\u5931(12-month ECL)\u7684\u60c5\u6cc1\u3002\nIFRS\u57fa\u91d1\u6703\u548c\u570b\u969b\u6703\u8a08\u6e96\u5247\u7406\u4e8b\u6703\u4e86\u89e3\u8a55\u4f30\u9810\u671f\u4fe1\u7528\u640d\u5931\u7684\u56f0\u96e3\uff0c\u4e26\u5c07\u5728\u9069\u7576\u6642\u5019\u63d0\u4f9b\u9032\u4e00\u6b65\u7684\u6307\u5c0e\u3002\u5728\u6b64\u671f\u9593\uff0c\u6211\u5011\u5efa\u8b70\u5728\u9032\u884c\u8a55\u4f30\u6642\u9084\u539f\u57fa\u672c\u6b65\uff0c\u5f9e\u6703\u8a08\u6e96\u5247\u7684\u57fa\u790e\u539f\u5247\u4e0a\u51fa\u767c\uff0c\u4e26\u9069\u6642\u9075\u5faa\u76e3\u7ba1\u6a5f\u69cb\u548c\u7576\u5c40\u63d0\u4f9b\u7684\u6307\u5c0e\u539f\u5247\u3002<\/p>\n

\u7d50\u8ad6<\/u>
\n\u5728\u7f3a\u4e4f\u6b77\u53f2\u6578\u64da\u3001\u8cb7\u8ce3\u5dee\u50f9\u589e\u52a0\uff0c\u4ee5\u53ca\u4f30\u503c\u65b9\u6cd5\u6216\u6a21\u578b\u7684\u7279\u5b9a\u9650\u5236\u4e0b\u7b49\uff0c\u4f30\u503c\u7684\u4e0d\u78ba\u5b9a\u6027\u5728\u65b0\u578b\u51a0\u72c0\u75c5\u6bd2\u7684\u75ab\u60c5\u4e0b\u986f\u8457\u589e\u52a0\u3002\u96d6\u7136\u570b\u969b\u4f30\u503c\u6a19\u6e96(IVS)<\/strong>\u4e26\u6c92\u6709\u7981\u6b62\u5177\u4e0d\u78ba\u5b9a\u6027\u7684\u4f30\u503c\uff0c\u7136\u800c\uff0c\u5982\u4f30\u503c\u5177\u6709\u660e\u78ba\u7684\u4e0d\u78ba\u5b9a\u6027\uff0cIVS103\u8981\u6c42\u5c0d\u6b64\u9032\u884c\u62ab\u9732\uff0c\u4e26\u4e14\u4ee5\u654f\u611f\u6027\u5206\u6790\u5c0d\u6b64\u9032\u884c\u91cf\u5316\u3002\u53e6\u5916\uff0c\u8a55\u4f30\u5831\u544a\u4e2d\u4e5f\u61c9\u660e\u78ba\u5217\u660e\u4efb\u4f55\u4f30\u503c\u9650\u5236\uff0c\u4ee5\u53ca\u7279\u6b8a\u7684\u8a55\u4f30\u5047\u8a2d\u3002<\/p>\n

\u5c0d\u65bc\u4ee5\u6703\u8a08\u53c3\u8003\u76ee\u7684\u7684\u4f30\u503c\uff0c\u5118\u7ba1\u4f30\u503c\u5b58\u5728\u4e0d\u78ba\u5b9a\u6027\u548c\u5c40\u9650\u6027\uff0c\u5b83\u5011\u4ecd\u9700\u9075\u5b88\u5404\u6703\u8a08\u6e96\u5247\u4e2d\u898f\u5b9a\u7684\u8981\u6c42\uff0c\u9019\u5305\u62ecIFRS 13 -\u516c\u5141\u50f9\u503c\u8a08\u7684 \u516c\u5141\u50f9\u503c\u5c64\u7d1a<\/strong> \uff0c\u7576\u4e2d\u6211\u5011\u61c9\u512a\u5148\u8003\u616e \u7b2c1\u7d1a\u53c3\u6578 (\u5e02\u5834\u5831\u50f9) \uff0c\u6700\u5f8c\u624d\u8003\u616e\u7b2c3\u7d1a\u53c3\u6578(\u4e0d\u53ef\u89c0\u5bdf\u7684\u53c3\u6578)\u3002<\/p>\n

\u6709\u95dc\u6211\u5011\u7684\u4f30\u503c\u53ca\u5176\u4ed6\u4ea4\u6613\u8aee\u8a62\u670d\u52d9\uff0c\u53ef\u4ee5\u900f\u904e\u96fb\u90f5\u8207\u99ac\u5fd7\u5805\u5148\u751f\u806f\u7d61\u3002\u00a0kennethma@moore.hk<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The World\u2019s economic activities have become severely affected since February due to the outbreak of COVID-19. Governments have imposed travel bans, quarantine measures and various business operating restrictions to limit the spread of the virus. This has resulted\u00a0 in unprecedented elevated market volatilities. Stock market indices fluctuations of +\/-10% daily are not uncommon. In valuation […]<\/p>\n","protected":false},"author":39,"featured_media":990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[33],"tags":[],"location":[],"class_list":["post-989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transaction-valuation"],"acf":[],"yoast_head":"\nValuation considerations amid the COVID-19 Crisis - Moore Hong Kong<\/title>\n<meta name=\"description\" content=\"As the COVID-19 outbreak accelerates, how to deal with valuation uncertainty is one of the most concerning questions. At the same time, the International Valuation Standards (IVS) did not forbid valuations with uncertainties to be performed.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.moore.hk\/zh_hk\/news\/valuation-considerations-amid-the-covid-19-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"zh_HK\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Valuation considerations amid the COVID-19 Crisis\" \/>\n<meta property=\"og:description\" content=\"As the COVID-19 outbreak accelerates, how to deal with valuation uncertainty is one of the most concerning questions. 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