sm case study-shang ri la

8/3/2019 SM Case Study-shang Ri La

1/149

$#40784.4,908$$%"&$%$

,98.4250994303905702:2.4.4,903/:897.4190

1;0.425099;0147.08889743089.80,089,9.425099;0147.08800294,;09070,90890110.9433/:897,997,.9;03088,3/90

549039,57419,-941300397,398

48905702:2.4.4,903/:897.,33,9,7090:3/073

/7;07841.,30,3/4299480/7;3147.083/;/:,47

.40.9;0.,30.425099433903/:897

,901,.9478/09072308:..088147574/:.078415702:2.4.4,908

,9/408,$%,3,8841#40784.4,90870;0,,-4:990

574850.98147.425,381:9:708:..088,9,709807084:7.088970398

,3/.425099;0.,5,-908987084:7.00,308808,3/.425099;0

,-9089809073,455479:3908,3/970,9844:/4:/08.7-0#40784.4,908.425099;0897,9048

95489430/3903/:897

,9850.1.89058,82,3,020399,0394250203998897,90490

.425,381:3.943,897,9008,3/9,.9.8,550,794-0.43889039998

.425099;0897,90

408#40784.4,908897,90473390728419013,3.,

5071472,3.098/0;073

,984:7,88088203941980;04157419,-998/0700416:/9,3/

900903941980;07,0.4190897,90.459438,;,,-094#40784.4,90884:/-0

;039008957479.41907494594388902489,997,.9;0

,9850.1.,.943884:/$90;0!,7:3/079,0942574;0#4078

.425099;03088390,3,/,3!702:24.4,903/:897490

.:9:70419047,3,94325,.9!,78/0.8438,70,9;030

44:/4:8:0899,9!,770.43.090.425093749

8:089438.,25430/-;,74:8202-07841904,7/4170.9478


2/149

!!#nf

nn f ff fn nffnfff fffnf fn f nff f nf f n

ff,ff fnf fffn Jfff

fnffffnffnnfff

fnffnnf nnfff@f

fff#nfffnf@ff

fnfnfffnn

;Jfnnnf"Jnnn

"Jnf"Jfnnffnffn

ffff"

nnf fff%f,f

n ffnnfnfnnfnfffn

f n n If nff f n f

fnffnfnnfff

nfnnn

f9fnffnff n ffn

nnf%fnffffnnnff

fff f ffnf ff

fffn%f fnfnf

fnnfnfnnfnfnnfnf

f n f f f n f nnf nf n f

fnfffnn%ffnffnnf

n n n f fn %, f 9fnf

ffffnnffffnf@fnf

fffff f n

ffnnnfffn

n f %fff nnfnf f n f

f nf n

nfnnffnf fnnf nffnfn@ffnfffnf

f

;nnfnf"Jffnff

nfnnnfn "


3/149

@nffnf% fffnf

n f ff f f

n f f# f ff nf n f fn

nf fnfffnnnf#nfff

ffffnnfnnffnf

fnfnffnn@nfffnffffnf

f fnf nfn f f nf n n , f n

fnfn

nfnff fnfffnnnfff

f nf ff nf nf f nf

%f9fffffff

# n 9ff nf n f n f

nffnfnnffn

nnfffnffn f

J f f f fn f f f fnnf fn n

nf%Inf@-nnfnfffnnf

nff#nn fnnnnf

fnfffnnff

nffnnf#nnfnnffffnn

ff

@ fff ffIf

fffffnnfn nnfn

fnfnf

n f f n f # nf nf fnfn%fffnff f

nffffnfn

nnnffffnn

nff nfnffff

fff nf nf fn f f f f

nf f f nf f f nf f

n n nfn nf f nfn f fn

f

;Jffnnnnnnf"

nnnnfnnfffn%fnnff

nffnfffnf nnf

nnf%ffnfnnnnf

nfnfff #ff ff f

nfnf9nnn

fnfnn


4/149

9nnnfnffnnn n f#9n n%

nfnJnfffffn

fn f nf f n f n f ff f

fnfnnnfnffnnfn

f n n n f n f n f

nnfnnfffnfnfnffnfnnfnfff

f# fnf fff ff f nn f nf

fnnffnff$fnnff

fnnffnnfnnf

fffnfnnfffnfnfnf

nnfnfnnnnfnnfnf

f n nf f n f nf f f

nfnff nfn fnff

nnf

9n nf f nf n f fff

nnnfnnffnfn

nnfnf

nnnnffnfnnfn

f nn fn f f f f

fffffff

nn

;Jf f J@ ff #nfff n nf#

nn"Jff nfnnff" nff

nf"fff"

#nnfnfff%fffnf

nffnffffffnfnf ff

fnfnffnf%fnn

#nfffffnfnnfffnnff

nfnf fnfffnf#f

nfnnffffn

ff

f nf# fnfff ff ,f f fn nf n nf n f

n fn ff # nf f nn

fffn ffffnf#ff

fnfffnf9nnf

nffffffnfffnnf#

nnfnffff


5/149

nf#nnfnfffn%f#nf

nnnf#nff

ffffnff#nfnffn

nnnfnfnnfffff

nf#nf%nJfnf#n fff

ffnfnnfffJfnfnnffnnffnnf

fnffnffnf

f

nnf f f f f

nnffnnf@

f#nnffnf@fnffnf

n@nffnfffnffn

f n nffnfffnfn

nnffnnffffn#nffffnnnf

9 n ff #ff ff f ffn

nf9nffnnnfnffnn

; n # nf n f"

"Jf nnfff ff" nf#nf

fffnnffnnf"

f f f 9f n f # n

nfffffnfnnnf

f f f ff f ffn f n nf f

f nf n nf nf f#f fff nf fn

fnnffffnfnnf,

nffffffn%@

ffn n #nf f fnf nn

fnf f f n fn# nnfnf f fn

f f nf f f fnn f n n

f

n

ffff;%ffnffn9

n Jfn % f f f nn

$$n fnn$$f$f

,f% @ fn Jnfffnnfn

9nf


6/149

, f @fnJ nf f fnn f n

9nf

fnJ%Jnffn

f % f f f 9 f f nf ,f f

9ff

fnn%ffnffn@-@@f,f

%DfffD,f

Inf @ % nf fff -f ff nf

f9n

99

nf

n

9nffnnn9f

n#fnfnnfnff

nf

fffnnffnfffffffnffDffnnnffnf

nf 9f ffff f ff

ffnfffff% f

nffInff ffff

ff @ f f f f @

nn nnfffn# fffn

ffnn

@ffnf#nnfnfff

ffff#n,f$fff

nfff@ffnfnnfff

f f f f f n f f

nnnf

9#n,


7/149

9#nnnfffnf#nffn

%@ nff@ nnffnnfnf nff

ffnfnf

n

nn,nf9

f

@ffnfnfnfnfffn

ffnn@ffnnfnffn

ff fffnnf fff

n n n f n ff nn fn%@ nf f

f

9nfnffffffffnff

fff9#@ffffnnffff

f % n nnf f f f n ff

%f @ffn f f nfff

nfInf

-fn f nffDff

nfnfff9nnffn fffn

nf nf f J # f f

nnfffnfnf

@ff

fnffffnff

nfffn%@nfff#

fffnnfffnffn

nnf%f

@f n ff fnnnnfff@ nnf

ffnfnnffnffnfff

nfnff

fnnfnfffnnf@ff

n f f ff f f f f n f

nf-nfnfnfffnf

nf

@f

# nnf f f fnf nff

fIf#ffffffff

n @ n f f f f n nf

nff#nnffnf#f


8/149

,fnnfffffffffnn

f nfnfff nf fnf

ffffInffffnf

9

f f fnf # ffff#nnffnfnf

n,fffffff

nff

nffnnfnf

ffnfffnfnn@nnfff

fnnnffnffn f

nf f nf f n nnf

n

@ffnnfff fnfnn

ffnnnfffnnff

9

@fffnnfnff#ffn

nf#n

@nnffnfffnf

f#ffnffnnf

nnfffnnfffnn

n@fnnfffnnf

@n

n n ff f fn nnf

nfnfn#ffnnff

nffff nfn@fn

fnffnnffnnff

@fffnf

f nnf#f

nnfffff

f

@nnfffnffnffnn

nf n f f f nn @f f fn

nffnnffff

ffnnf9ffnfffnnnfnff


9/149

@ nnf f f f f f n

nfffnfn nffffffnfn

nfn

nnfn nf

Df#-

@nf ffffn

nnfnff @

nnfffnfnfn

nfffffffff#nnffffn

ff#nnfff%@f

nffnnffffffn

nnf ff f fnf nf nnf

fnffffn@fnfffffnf

f

n # n ff f @ f f

ffnffnnnf@f

nnfnnfff

ff

#nfff ff ff fff nff

fnnnfffnnfff

f f n f ff f f @ nnf#

nffffffff

nf# f nn f nf f Inf fff

nfn

9n

Jffnnffnfnnffnnffff

fnfnnnf"-

nff nnnf@ fnf@ ff

Ifnn%

9nnff@nffff

nn ff f ff f nnn

fnnfnffffnffnffnf

fn

fn


10/149

nfffnnfnfffn#fff

nfffnnffn

ffnnffffffn

fffffnf@nff

nffffffn

J@ff

9n,f

ff@ffnn

;ff,fff

ff

IfDfff,f

fInfn

fnnfnff

ff9n

fnffnnf

ffnnn

f#9fn@

fnffn

f

@n

,f

9nnff

Jf@f

9n$fnff

ffInfnn$

9nfnfnIfn

9fn ffnf9ffnf


11/149

nff

ffnfffnn

fn

fn

fnnf

nff

,

fn

nf

,ff

ff

fnf

f

@$fnfffnfnnf

@nfffnff$ f

fffnfffffnf

ffnff9nff

@fffff

Infnfffffnf

f

ff

nfffnnf

fnf#fnffnff

nff#nnfnfnnn

nfffff

;f


12/149

ff

9# f

9n f 9n

;f

fnfffnnf#nff

ff@ffInffffn

,f

nf n n f f n n n f ff

fffnnffnfnnn

fffff%nf

@fff

,ff#fn

f#ffffffnf

fff#nfffnnnff

fffnfffffffffffff

f f ff n nf nf 9 %ff

nfnffffffff@fffn

nfnfnffnfnf

ff nff f fffnffnnffff#ff

ffnf

@ffn#fnffff

ff$nf#ffnfnfnf

fnff


13/149

nfnfnfffnfffnf

ffffffnfn"

%n9

n

f 9f f # ff n n f nf# f

9fff f n f nf n n

f nf# f f f f # J# n f

nfffffffnnf

nnnnnfnffff

fnnfnfnnnff

nfffnnffffn

fnfffnnfn9ff

nffffn@n

fnfnff

n

nfff$$nf$$nnf

fnnn

fff9#f#nf,f,ff

,nff"fnf9,ff

nfff$$nnfn$nn

@nffffnf@;

ffnff,nfDf

ff#nf,ffn

99

OD@ID,,,,-@-

% nffff#nnfffffff

ff

% ffff9 nffnff@ff

nffff


14/149

% fffnnffff

fnnffnfffffnf

ffffn

% n fnf nn f n f f f

nff

% #nf nf fnn f nf fnf n f

ffn

% #fnffnfff ffffff

f

% f nff n f Ifn n f fn

nff

% nfff fnnf

% fff fnfn

% nfn f

% ffnfnffnff

% fn

% ffff

% nfffffffffnf

% nff

% ffnfnff

% 9 9 9 nf n nf nnf %ff

f#$,#ff@fnn

,-@@,-@@I

nf n n f f n n n f ff

fffnnffn

@@,@@@

#fffnnnfff

#fffnnfffnnf

fnfffn

f@ffnnffffnfff

@fff


15/149

nfffffffff

fD@fnnff,

f#ffnf#

@ f f f f f f f ff 9f f

nffffnnff fffnffn$f%nff

nfnIfn

D-J-

@nfnfff nffn nff

fnfffffnffnf

nnff

ffnfffnff

fffnnffnf

ffffffffnnff

D@

ffffnnff

ffnfnffnffn

n%nf

nfff

nfffn#9 nf

f

J@

@-@

% Jffff

% n,ff@f

% nfffff

% fn

%

% fn

% f9ff

% ;fnff


16/149

J-

% 9nnnffnff

% fnfnfff

%

,ff #f#fnnf

% ,fffnn

% 9fnf

% fnf ffnff

% fnf

% ,ffnfnnf

% Jf

% f

99@D-@

% ffff

% fff

% nfnnffn

% @fn nnff

% n

% f-,-n

% f

% n

% fnf$f@f

@@

%

nffnf

%

% @fnnf

% fnnffnnn

% fnnf


17/149

9@#I-

ff9

@nnffnnfffffJf,fffnfff

@ffnfffnfn#

nffnnfnf

ffnfffnfnn@nnffnnf

fffnnn@ffffff

fnffnfnffffnf

ffffnnfffnnnfff

f@ffffnnffff

nffff$nfnnf

fnfnnfffnf$

nnf nf f n 9 nnf ffn n f

nfffnnfnffnfnn @

nfffffffnfnnfff

nffnffffnnfnf

nnnff

@f-ff

@nnffnnfffnfnnffnffnf

@ nf nf ff nf f

nnnnnnnffnnffnf

fnff fnf fff fn f

nnffnfnfffnfnnffnffnff

nffffnfff

ff9

@nnffnnffnfffnf

nfnfnffffffnfnff

ffnn

@nnffnnffnff

fnf # n fff fn

f@n#nnf#ff

f # n f nff f nf

ff@ f nnnff

ff

@f9nfn


18/149

@ nnf f nnf n n f nf f

#ff nf ff n nnffnnf @ f

nff f@fnf # n f

nnffnnfnffn

nfnf fn,f nnf fnffff nf f

f n nnfn @ nf nn fn ff

nfnnnnfffff

f

#nfnffn nff

ffn@ nnf nff f ffffn@nnff nnf

ffffffn,ffnf

nffnfnfffnffnff

fffnnfnf

nf nf ff n f

fnnfffnfnffn@nnf

fnnf f nffn@#n n f

fffnffnfn

f f n nf f f fn f

nfffnnffff

f

99

nf

fn,ff

-@D@-

nf nnf nf fff f Inf f

nfnnnfffffff

nf f fn nf nf f f n @ ff f

nfff nnInff nffff

ff @ nf f f n n f ff n f $fffffffInf@nffnff

nnf@nffnfff

nffffnn9nffnfff

ffnff@fnffnf

nnf


19/149

@fnfffffnf

ffffnnffnff

nffffffffnfff

fnffffnnf@

ffffnnf

f

9,@@,-@

@nffnf

ffnnfnnffffnffnf

nff

@-@I

nnff

nffnf

n f%nf

nn nfffnnfn

Dfnnnfnffn

fnffnffnf

fnf

fnfnnf

-

nnffffffDnnfff

ffffffffnfnff

ffnffffffffnfffn

n fn 9nf f f f nf f nf f

f9nfffnfnfff

fnfffnffnfnfff

nf nf f nf n nffn f$ ff nf f

fffnfffnffnfff

fnfffnnf

ffnfnffn

@nnf

@fff nfff

@ n nnf f f f ff f f f nf n

nnnf


20/149

@fnfnfnfff

f f ff f f

ff nnff n f f ffn

f f nf f f f f

ffffnffff

nnffffnfffn

nnffnnfff

nnnffffnffffff9n

fffnffnfn

nfffffnnf

@nnffffffn

fnffffnnffnn

nnfnfnffnffnff$f

ffnnnffffnnfn

ffnfffnfffnn nf f nf f

nfnnffffnfffnff@

fnfnffffnnfnfff

fnnf nf f @ f nn f f

nf ffnnfnn f ff

nfnnffffnn

ff

J@ffnff

@-@

fnn nfnnfnn

ffnff

ffffnff

nfff

nnnfffff

J-

ff

f$nfff

fnfnnnf

ffnnnfnnf


21/149

99@D-@

fff

ffnffnf

nfnfn% nnf

nn

@@

nfnff

f

ff

,,-@-

fnffnfff

nnff

nffnf

n f%nf

nn nfffnnf

@nffffffnffn

Infffnf@ nnnffn

fnnnffff

ffffnfn@nnf

nfffffff

fnnnffnfnnnf

fnfnff


22/149


23/149

n

-,-@;D@-

ff#"ff

ffnffnf"J"Jff

"Jffn#f"n"

f"

ffnfnnf

nff"fnffnf

nf nffffnff

fnnn"Jnn

nfnf

f#ff"J"

nnfnfn"

9ffnfffn

Jffnffffnf

ffn"D @f

fnn"J

ffn"f#ffff

nffffn"

Jfffnffff"

Jffnffffnf

fffn"D@f

ffnfnnnf

n"Jffn"f#

ffffnfffffnf"Jfffnffff"

Jff#fnffnff"

%Dfnff@fffffnfff

Jffnn#nnfff

fnfffn"

#fnnnnff

f9"

#f9nfffnf

ffnff"

Jff nffnfff"


24/149

99n

ff f nfJf # f #f ff n f

fffnf

n #f n fn D n

nnnffnnfn

f#f ,nff ffnff

n # f fn

fnf f nf f

fnfnfff

nffnfff@ffffffn

f n ffff ff

@#nnffnffnnnff n f f nffff

nff

ff

fnfffnfffff

fff#fnffffff

ffnffffffffffn

f

f

fJff9fn#f @

fn9ffffff

ffffffffff

ffnfffnfn

nffnffnff@ff

fffnfffffnf f

ff

nfnfff,fnfnn

nf nn f f

ffffffff,fnffff

f f fff f f n

nfnffnfnnff

nf

9nf


25/149

#n fffnfnf n

nffnf,nJff,fn

n nffnn f f 9 f

ffn,fnfffnf

n @ f n nfnf

f9

;f

#ff,fnnffJ

n, Of f f ,fnf f

fffOffffff

ff

f#fff

fnffnffffn

nnffffffnn,f

9 nf nn ,fn @ f n f #,fn

9#nf

# n f n f @ 9f nn

nnnn,9fn

@f9n

@fnnfff#f

fnfffnnf

nn9f%nnnnfnff9f,f

ffnfffn9@fn

@f-f

@fnnffffff@n

ffffnf

ff9

@f nnff nff

nfffn@ffn

f f n f ,n @ ff f n

ff9


26/149

fnnf nffnnf f

nfnfnnfnnnnf

#fffn fff

n

ff9fnJnffnfnfff@fnfff

fffffnnfffffn

fffn nfnf fnf

Jffffnf9,

9n,fn-ffn

ffffnfn @fn nff f

ffnf#nf ffn

ffffnnfn@

nffnn

99

f

fn

-@D@-

@fffnnfnnf

Jf n f nf n f f n 9 f n# n

"

Jfnffffff"

Jffffff"fffn

,fn"

f ffnffnfffffn


27/149

;D@-

Jfnfnfnffn9n#n

f"

,

@9# n %9 ff f nnf 9

,# %- f 9 f ,n f f

nn%fff9nfnf

@9 nfnff%,fn @f f

fnfnfff n ,nfn

%-ffnfnffnffnn

nff,n%f%nnfnn

fffnfnn%nf

f f %nfff ,9

n@fffnfff

f%ffn ffffnD

@f

@fffnf9ff

fnff

,

fnf9nnnff

fff%Dfnff

%D

9,fnnnnfff

Jffnfffffnf%9nffn

fnfffn

Jff,fn,fnnf#f@nn9

nfffffffnnnnn@9fn%,ff

fnfnf

@nn n @I 9 @f f 9 f nn f

fnffffn%nfnfn$

f f f n f f f f ,f n ff

nfn


28/149

Jfnfffffn "

fnfnffff

#ffnfnnffffnf

nff

f nf ff ff f n n n%ff9ffnnnfffff

ffffffffffffff

f f f n fff f n f f f f

%f@fnfffnfff

nf%

#fnfffnffffnf

nnnnfffn9f

fnfffn,fn

f f fnnff fff 9 n

f nfff f n ffn @

nffffnffnfff%f

D ffnnnn%9f

fffffnnnff

nfnf

fff,ff@ffnf

fff#nfffnfnfnfnf

n @n-J ff

nfnfn fnffff

fnfnf

Jffffff"fffn

,fn"

fff

Jnfffff

9ff fff ff%J nff

ffffnf#nf%,

ff#nfn%9

fnffn,fnnffff

n n nn fnff ff

nnfnf


29/149

D-nnffffffffffff

nnnf

fJ"

@,fn

@f,fnffffnf

ffnfnnff9nnf,fnfnn

ffJffnffffnnfn@n

#nf%9fffnf

fffn f%9nf ,fn fnfn

f f f n nn n

nn

-D-

nf#fnffn9nff,nfff f f nf fff ff nff n f

f n f nf f f f f f f nf

ffnfff

99-O

@f

@fffnf9ff

fnf

% #ff9ffnnfff

% @nffnfnnnf#f

fnnnfff

% @fnnfnJffff#Offn

% @Jf nf ff 9ffn %f

f

%

@ Jf f 9ffn n f9n fffn f

% fnf,fnf

-

ff,fnnffffIff

f


30/149

f,nfffnfn

f@fnff

ff9fffffnffnfffD

f

,fn,nffInff9@

,ff9ffnf

9,nffnfff

9,nf,fff

Jff$f-,ffn

Jf,fnff

xff@,fnff

@fnffn,ff%,

ff,9fffnnf

ffff%;fff,

9999n%9

nnffnf9

n

-f

fnffff

f

;

nf

fIn

n


31/149

@nfffn

nf

nnnnf;ff

fff

n

9f

,f

fn

fnnff

n

nffnfn-ff,ff9@ff

ffffffnfnfnff

nffnfffnfnnfffffnfff

ffnff@f

fnfffnf

n

@nfffn

nffffnfffnn

nnffn@nf#ffnn,fn

9%nf#f9fff%ff9

fff#fnnDf,fnOf@ffnffff

nfff

@nf#ffnfnf9fnfffn

fffn,fnn

%+ffffnfnffnf%f

f@nnffnf

f

#nfnffffff

nf9fnff#ffff%f

nJfnf#fff

fnJ,fn,fnOffn$@f

nnfff

nnnnfffnnf

fffnffffnn

#fffffffn

9#nffffnffn


32/149

nfnn@9nffff

@fn@nf#nf

nfff-nfffnfffn

fff%,

ffffff

ffnnffffffnn

,f-ffnfnffnf

ff@nffnf

n9fnfnfnfnffnnf

ffffnnfnffnf

fnnfffnfnf

ffn

,f-n@

@f

;nf%,;

@%,;

@f9fnf--@-@n

@f;nfnnnnfnnff

fnf%ff

fffnfnffff

fff%fff

f%ffnffnf

f@nffn#;nff

fnffffnff

ffnfn9fnf;nff

ff#nff

@f

ffnff%

f

nffnffnfnnfnf

fffnnffffffnf

n#fnfnf

Jffnffff

ffnfnffff--

ff,f-fff

nf%#ffff#@nfnff

ff


33/149

fn9%fnf%9fnf

fff-ff%f

nf@nff%$#%f

%fnffnn

f9fnfnn9fffff

f#nffffff

fnnf

n

@f$

@fnfnfffff

nfnff$f#nfn

f@fffffnfff

ffnffffnff@

fffnfnffnff

nfffffn

ffnnnff

@nfffn%fnf

ffnfffnf

f@ffnffnfffff

#ffffffn

,ffffffffffffffnffnfnnf

fffffffn

ffnffnfnf

nnnffnf,f

,nfffDf

nfnfffn

ff

9f

@fffnf

nffn,f

nffnfffff

fnffnf

@f@fnffnfff

nffffff

@9,fffnfn

nfn@nf%@f

n%9nffffffnnnf


34/149

f@,fff@fff

nffnff

@f9,f,f

f

9fnf

ffnfffnffn

nf#ffnfn9fnf

fff9fnff

fnnfff

n@ffffnff

fnfnff

,f

fnn%ff#,ff

%f9fnfff#fffffnfffnfff

nf#fnfn

fnnf

,ffnnnffnf

ffnffnnf#f

fnfffffffnf#n

#fnf#fffnfff

f

@f

,ff

ff

ffnffn#fnff

ffnffnnf#fff

n9fnf#f@ffffff

nfnffnff

fn

ff9fnf9f##

9fff#,f

nfn9fff

fnfnff

fnnfnffnffnfnn

ffffffnn

f#fffn9@n


35/149

nffnff#ffnff

f

@fnfnfnfnf

fnfnff-nffnfffn

fnn@nfffnffn%9

fn@fnfnfff

ff#nffn

@nffffffnfnff

nfnnf#f

@nff%ff

ffnfffnfnf@

nnffffnfffnD

fffffnfnD@nffn

nfnf

fnf#ffnfnfnnnf

f

fnnff

nnfnfnnfff

n@nffffnnf

ffnn99f@Iff

nfffnf

nfff%fffff

nfnnnfnfff

fnffffff

fnf#nffnf

9fnffnnnn9fn@

fffffffnfffnffn

f

@nfnfffnffnff

fnfnffnffnfnnf

nnfDfnfff

fnfnffffff

fffDff

Dnf#fnnf

nffffDff

ff9ffnnfffn

nfnnn

ffn9nfnf

fnfnfnfnf

fnfnfff

n

n

fffD

@fnfff


36/149

@fn

ffnffnffn

n9

99

J@f

n ff ffn f n n

ffnnff ffffnnffn

@fnfnfn#

9nfnfff -f f

nnffnff

n fnfff

nfnnfnffnf

fnffn

nff f nnf f f f f

f

fnfnffnnnff

@nnf

nf@fnfn

fnfnfffffnnf

nnfn

nnfnfnfnfff#n@nf

ffnffffnffnfnfnf

ffffnn

n9

#fnfnf


37/149

9fffnff

f

fn fn%9Ifffff

%nffnffff

fff nffff

@ffnffnn

fnfn

nffnnfn f

nffn

fff#nf

nfffnffffnffnfnf

nf

%

Jf

fnnfnnfn

9-f@n9nfnffnnf

nnfnfnf

f9fnfffJnff

nfnf

@ ,fn # n f ff

f f f n f nn

fffffnnfff

f fn f f f f ,f f n

f f f f n nf n f f n

nn

f@f nfnf f


38/149

@nf%nf

,fnffffn

fffff ffD nf f f ffnf nf

n

-nffnffn

9nffffffnfffffn

9f,9nfnn

@f

@ f @nf n f n f

nf#nn

,f n f ff f f nf

fn

fnffff

@f n n @ f nnf

ffn nf 9 f f nf n f # n

nfnnfnnfnf

nf#nfnfnf

ffn f f n n n nfn fnf

nfnfffnf


39/149

$4408$97,903$$%"&$%$

8.:88.4250994339080,7.3/:897.41901;0.425099;0

147.088002897430890,089

,984:7,880882039414;07,3/:897,997,.9;03088

489080,7.3/:897.,33,9147.0880022489094-73

,-4:92,47.,3094903/:89793903099700941;00,78

,9,709001,.94789,9/01308:..0883903/:897,9,7090

0.4250903.08.,5,-908,3/7084:7.08418:..0881:80,7.0330

.425,308

08.7-04408-:8308824/0,9,7090.425,3870;03:0.489

5741970,943858,9897,9008,8440700/:54394-:/

.425099;0,/;,39,03903/:897

,;04408-:8308824/0,3/897,90574;0394-08:..0881:$4:/3;089478-02570880/990.425,3813,3.,5071472,3.04/408

90.425,3813,3.,5071472,3.0.425,70949,941.748419,3/

,44!0,80.43/:.9,13,3.,,3,88948:554794:75489434:

2,894:809013,3.,7,94857080390/3%,-041,5907,8,

:/03/434:713,3.,,3,884190.425,3

,9,7090.425,3807084:7.08970398,3/.425099;0

.,5,-908,9.425099;0,-908,3/7084:7.00,308808/4089

,;0,9455479:3908089,9970,989498.4393:0/8:..088,70

5708039

,970.42203/,94384:/4:2,09444089452,3,0203990,2

948:89,398.425099;0,/;,39,039080,7.3/:897484:/9-089

.,59,04398897,90.39,9;08324-080,7..4:/.425:93,3/98

,:.94338890214797,/943,20/,,/8


40/149

!!#425099;0$97,90880882039

,80$9:/4403.

%#&%

%8:83088#05479572,7,//7088086:089438,80/43904403..,8089:/

31472,9438572,74-9,30/174290.,8089:/,3/17425:-.,;,,-03087054798,3/,79.08

"&$%$

,90709001,.9478-03/44080,78:..088

3:2-074101,.9478.4397-:90/9444080,78:..088440,/:3,88,,-0.425099;0,/;,39,0

390147241!,0#,3,47929,9.,3011.0393/00-5,08,3//0;078700;,3980,7.08

94:80789,;4/0/.4250930,/940,/9,4409.-.448334994/;0781945479,5489433

3890,/ 440 14.:808 43 /0;0453 98 897,90. ,88098 ,/08 ,3/ .0383 98 80,7.

90.3440894,44,3/49077/5,798908

507,93 :3/07 , /:454 2,709 897:.9:70 08 ,3/ :3/07 ,3 05,3/3 2,709 440

03.4:39070/088.425099;070889,3.0$9,397:09498.425099;0,/;,39,0,3/14.:83439880,7.807;.08440706:.

440,8,-094,/459,;07.425099;057.3897,9035,/893,3/,8411073,407!,3/

0770;03:08599,398.4250994383/- 038:73,07..974: 7,90440-0.,2090

80,7.033041.4.0147-49905,/89078,3/:8078,0,3/,8,-094.,59:70.74888/0309478

0110.98032,33

440,8,-09497,38,909870,.,3/507;,8;03088419880,7.0330945,/893870;03:04408

70,.,8403,-08994,;4/9097,/943,4;070,/8706:70/147,/;0793942,09801,3/98807;.08

343

4408,84 800 4:9 302,709 85,.0 2,3/ 9024;0 94574;/01700:3290/ 02,0-8947,0,8470,9-:998-,80414,.:8942078,3/44/

4408 .47547,90 ;,:08 .47547,90 .:9:70 ,3/ 807;.0 411073 ,8 0 1990/ 147 90 3/:897

1489073,3/03.4:7,3,.:9:7041334;,943440,8,-09470,590-030198413024309330

/0,89,9.,204:9


41/149

$4:/ 440 5, 2470 9,3 41 90 70;03:0 0307,90/ 1742 80,7.08 4 //

.74841982,2:2,1147/,-0-/147880,7.97,11..425,7094408

, ;039,94408,70,/8,73944190,/70;03:0.40.90/9906:08943

415,324709,3419070;03:00307,90//40834980020/0, 831.,394300850.,3 90

9414405,3,4;07904//8147418,708

0 90 430411 /0.843 - 440 94 5, , 5702:2 147 8 8,70 .,3 -0 :8910/ 1742 90

507850.9;0 41, /01038;05, 94,7/411,5488-00397-.748419,;07 /,3074:8.425099479

/00554.098039073,.4397,.9945,4;074190,/70;03:08349:891,-00;0394:90702,

-0:891.,9438970,7/894.74888:-8/3,3/90784107,.6:8943.43;07843.489

!,324709,32,34920,392:.39072/4,78-:990708:9,3948841-,7,330;07,02,

-0944,57.0945,

- 9 3/89 ;03 9,9 .748419 -/ 1,0/ 9 .4:/ -0 850.:,90/ 9,9 90 -/ 8 310747 94

4408184//.7484192870,/90549039,4190/0,942,08074:8374,/83949080,7.

2,7094404390,3/8,90300/9483:114:9.7484198147,39498:.7,9;02,709

3,//9439403,3.398.47080,7.-:8308884:/440/;078139430,703,.4:/4:

70.42203/-:/3, 1:50/0/5479,0,448 9,7093.7484198/0894500243

-0.4230.42207.0390720/,700,

9839070893 9,90 $.2/9,8 /010.93906:089439,944029.70,9098 430--,80/

4507,93 88902 0 ,//0/ 9,9 9070 ,8 , 70,9 /0, 41 897,90. 0;07,0 147 440 3 -:/3 ,3

0.488902,74:3/.439039,3/,/;0793,3/9,998,3090384341440880,7.28843003943

948,4408390-:83088412,3,9047/831472,943,..088-0,3/:801:

4:/8974370.42203/440945:78:0,84:9439,9.,3.,030478:-899:90/08945.425:93

0;031.7484198943990/0,

438/0790,24:394131472,9439,98:8989933/0894583490-448,3/807;078,74:3/9047/

31472,9439,98:801:,3/.,3-02,/0,..088-01.4:78090702:89-020,38,3/57494.48089,-8

147:80789480.:7090757;,90,3/5745709,731472,943-:9-,3/,70248931472,94388,70,-0

2,30 430 /, 390 30,7 1:9:7003,41 4308 108. ,;0-003/083,90/,88,70,-0 ,70

3/00/,3/-0.420880,7.,-0-50450,74:3/9047/$,70,-031472,943.,3-097,/0/147,10/

473049,90/,..47/3 94, 1008,735,394404409031,.9,9084720/,908 905,2039

00.9743.,

%88:89,82,0,25041,9,0--,80//08945705,.0203984:943.,3/4!0450.,389470/,9,

4330,3/005,.453904.,/7;00.,3/4,,99005038;0$:57,/08,3/0903/9010

85,34190,7/,7080,;0$419,708:55479,84-00599490232:29834943,2470

8:89,3,-024/0-:94309,98247003;7432039,1703/,80%08941-030198.,34374

80- 807;.08-0.4232470570;,039 9024;0 94 705,.0 /08945,3242039:2,3/,8 398

0,7 /,8440.,309 ,,3 9,0 900,/,3/.,30 90,0,..088 ,3/13/ 31472,943147 90

-09907


42/149

44:;04408/893.9;04;073,3.0897:.9:70.47547,90.:9:70,3/47,3,943,574.08808,8

897039847549039,29,9438

4408/893.9;04;073,3.0897:.9:70.47547,90.:9:70,3/47,3,943574.088087010.990.414:3/078

025,8843 334;,943742 90 ;07-0333-49$070,3/,77 ,/3903/0/14790.425,394

74 ,3/ /4 98 -:83088 32,3307 9,9 8 .43889039 9 98 .47547,90 ;,:08 3 08803.0 440 8 ,

.425,39,957424908334;,943,3/5:8089003;0450,90920

4408 4;073,3.0 897:.9:70 40;07 .,3 -0 , 549039, 29,943 4408 4;07 70,3.0 43 90 .4

14:3/078,3/$.2/92,-0,,-9390437:33900;0394304724704190800,/078.0,8094-0

990.425,390574-,-025,.9.,343-0/08.7-0/,830,9;0

40;07,890.425,3748.079,3,/:8920398,70300/0/94038:709,99880/4083498910.70,9;9,3/334;,94344070.430898,80,3/,8$.2/905,38440,8-0:3944/70:,7

200938,9.0254008,7003.4:7,0/94570803930/0,89420,77,3/$0709,8,84-0:3

;3 8420 5740.982470 7084:7.08 ,3/ 3/0503/03.0 9,3 :8:, 49 24;08 ,70 /0830/ 94,7/ 411

.43807;,9829,9.,38093,8.425,3082,9:709,8,845:935,.090.344.,94488:.,8440

,;0945742490334;,943,3/.4,-47,943%8.079,3-4/08014790.425,3

-00;098.:9:7041334;,94398014:/54894344094334;,90,3/,/,59984347,3,943,

574.08808 94 005 9801 97:0 94 98 .47547,90 .:9:708 ,3 4:7 43 7:08 8 574;3 2470 ,3/ 2470

700;,390850.,39208410.4342.:3.079,39

##$

f@fnff

Jff$f-,ffn

fff-fffn,ffnnnfnf

,ff

$$fn$f

99

fn


43/149

fn

ff9f9ff@

nfnffnf

fnnf@nffnffffn

ffffff

fn@nfffffn

fnfffnnf

nfffffnfnnn

fnffnffnnfn

nffnfffff

fnn fnnnnf

,-fffnnnfnfffnn

fffffffff

fnf#,nfff,n

nffffffnfff

fJ,nfffffnnfnnfffnffnf@

fnfn#nffffnff

ffnf#fffnn

n#nfnffnn

nfffffffnn#

nnffnffnnnfn

nfn

fnnnfnff

nffffnfn

f@nnff#f#nnffnfffnnnfffn

nffffnn

nffffnn

fnfnnfffnf

fnffnn#fnfn

nfnffff

nfffnfnfffffnnn

n

fffnfff

nfffnn@fnf

#ffffff#n

nnfnff,-fnn

ffn%nfnfffnnf

nnfnfnn

nnnffnfnffnff

nf%f@nf

nfffnf


44/149

f

9fn

,

9fffDf

fff

fnff

fnfnnffn

Df

fD

#fnfnff

#fnf#

#nfnf

#ffff#f

ff,n#fff

#nffff#nff

f,n#nfff#nffffff

f#fnfff

,n#fnfff

%ff#f

,n#f

%ff#ff

,n#ff

fn9

,f@ffffffnnf

n

fffnff

fffnnffn

ffffffnf

nfn

nnffffnnnff

-n

nfnfnfnf

nfn

ff

9ffnnnnfffn

f

f

f#nn

ffnf


45/149

nff

#ffnnff

#fffffff

fffnffnfnf

nnffffnn

nfff

nffn@f

#nnf

#fnffnffff@

ffnnffn

#ffnnffffff@f

nffn fnfn@

nffn

fn#ffffff

nffnffnffnnnf

fffff@nf

fn

%,83;7432039

%70,9410397,398

%70,941300397,398820/:2

$9.3.4898,70;79:,343089039.:8942078.,3:8080,7.033081471700,3/.,3:80902

,5,79 17424907 807;.08 411070/ - 90 .425,3 1:7383 90 80,7. 0330 :8942078 0 97

,3490780,7.0330190708:9890706:70.,3349-04-9,30/6:.,3/0,8174290033090,70:834408,/;07983.:8942078,70349706:70/9483,439072.4397,.9347/490,;0942,0,

8,-03;0892039:517439347/0794 5,.0,3,/9440 /;07980785,440147 85,.043 907

80,7. 0330 708:98 5,08 4303.:8942078 .. 43 907,/8 ,3/ .,3 90701470 89. 94,34907

.425,394:9,708:3.4898

,77078 94 0397 /4 089 40;07 /:0 94 90 ,24:39 41 .425:907 06:52039 30.088,7 94 -0

.425099;09900841440,3/,4484 90,70.4250994789398,703,,;0807;078

897,90.,5,.0/,4;079047/%82,-0/11.:9147,30.425,394983/:89794705.,903

,1,8439,94:/2,0902.425099;08490,70.425,3083983/:897,;0;,89,24:39841

31472,943,-4:9907.:8942078,3/4330,/;07980789,94:/-0/11.:9147,300397,3994,2,88(

#;,7243425099478

#;,7,243.4250994788

4408.425099478,998920,70,,707.425,3089,70,24:398417084:7.08


46/149

4408 .425099478 41107 4907 3907309 807;.08 ,8 0 ,8 80,7. 807;.08 %0 80,7. 0330

,997,.98 .:8942078 94 907 4907 807;.08 147 0,250 /,93 807;.08 02, ,3/ 1,39,8 854798 0,:0

5,914728.7,8089025479,3.04154880883,8:5074780,7.03305,899825479,3.041,89,3/

,430807;.01474408.42509943

425099439.748419 8 050.90/ 94 3.70,80 .748419 8 ,9902593 94 3907,90 , 80,7.

0330394984507,9388902,3/4907574/:.98(

440.438/078.748419,3/,4490770,9089.42509943%080.425,308,;070,907.,8

7084:7.08,3/,-9942,0,.6:89438,43074507,938947,3/2470089,-80/.:894207,3/03/

:80770,943858%0,844507,9039073095479,8,3/411072470574/:.98,3/807;.089,3440/408

390.,8041.74841990,84,;024700254008(

44082,7098,70 390&$ 390730980,7.2,7098,4482,7098,708,3/

$88%88;07.480

%0 3/:897 8 ,997,.9;0 ,3/ 2,738 ,70 4408 8:..088 ,8 3.70,80/ 90 390389 41

.4250994383.090804907.425,308,39948,7039013,3.,8:..088

.748419 847394/0;045, 80,7.0330947;,4408 %82,-03 0:41 90$

80,7.03302039430/,-4;0(%8/013903.70,80.42509943/7,2,9.,39084797:3,9

0,89,8.7484199748987084:7.083574249390730574/:.9,3/,9902593 94890,2,7098,70

1742440.748419,8,43078947412,70939,3440/408.2,3.70,807;,7

,7,33!40741$:55078

,7,335407,2438:5507884

440 ,8 ,3 3907309-,80/ 807;.0 172 706:708 10 7, 2,907,8 1742 4:98/0 84:7.08 %08:5508706:70/9900.059434100.97.9,70,;,,-017422:95084:7.08

!49039,0254008 ,;084205407 4;07440 /:094 90 84798:55416:,10/ ,55.,398

..47/3944408440,8,;3574-02813/3,55.,3989,9070090734990.3.,

5741.039034:94.425090909,8,9,3/474138:11.0396:,9

,7,33!40741:078

,7,335407,243-:078820/:2

440,84190390730980,7.97,11.2,7098,70.425,70/94147,44,3/147

$ %889703903844085489439-:078 83.0440 8 903/:897 0,/07,3/8 90701470

2470,997,.9;09,3.42509947894,/;079807844:/0945,.0,/84380,7.0330708:985,08

4 -:07 414408 807;.08 8 7085438-0 147 ,707 9,3 41 4408 70;03:08 0.,:80

4408-:078,7017,20390/,3/3430,707085438-0147,,70,24:394170;03:084408-:078/4

349,;02:.54074;07440(


47/149

%70,941$:-899:908

%70,9418:-899:9088

94: 9070 ,7039,3 97:0 8:-899:908 147, 80,7. 03309070,70/1107039,894 47,3031472,943398.,80,/11070392094/4180,7.329574/:.0,8:-899:909490.:770392094/9,9

2,574/:.0-09907708:98

,44$ ,3/.748419 ,70473 94/0;04580,7.033089,9 090706:, 47

0.00/901:3.943,941440880,7.0330,3/,;0907084:7.0894,4.,9094,2,88;07080,7.,3/

/0;0452039011479%2090090790,7031,.9;00/,8,8:-899:90-80,7.:8078

4408 80,7.0330 .:8942078 ;,:0 ,..:7,. 41 80,7. 708:98 4408 .425099478 ,70,/

4110780,7.033084408.4250994782,-0,-094.70,90,.425,7,-080,7.03304;07920

,7,33!40741907$9,04/078

,7,33540741490789,04/078820/:2

$50.,390708974:58090207.,3884.,94341!:-8078,3/90:9478:/,;08:0/

440,3/43147.4579 317302039147.439039:80/-44043 907440 !739 ,3/440

448,55.,9438%08074:58,3/490774:58,70.4389,3924394734408,.94381473./0398

41,.9:,47507.0;0/.457931730203943907,55.,9438(

440,8-003147.0/,8,708:941,,8:99470;0,90/039941,-40747490411038;0

.4220398,-4:9,,3,/,324/04402,-0706:70/94700,8090/0399414907:8078:543706:089

390 1:9:70-0.,:804198 570.0/039.2, 70/:.0907.:894207-,80(%8 0,250820,3994:897,90 9,9 3/;/:,8,8 0,847,30/74:582, ,;0 905407 9431:03.04408-:83088

4507,9438

44080254008,;09905407940079033049,939440,-47934408

34947,30/(

$97,90.9073,9;08,3/$00.90/$97,90

749$97,9008

39072,709574;/30,2:8.,3/;/04/434,/3807;.08$

,!748


48/149

440,8903900.9:,.,59,948:..0881:/0;045908419,7094574;/098807;.0440

,8,70,/574;039,990.,3574;/09080,7..,5,-908943:80789907/0870/843847;/048

90780,7.03308902489,..:7,9039047/,3/90545:,7941907574/:.94:%:-08:089890

548808890.,5,-90894/0;045,/087,-02:8.;/04/434,/3807;.0

9, ,70.,8 -,,3.0,3/90 .,5,-908 944-9,313,3.3/:094 ,30970204 /0-9 94

06:97,94440/01390548808808 90 13,3., 7084:7.08 94/0;045 9080807;.08,3/-73 902 94

2,709

574;/3/1107039-:9 70,90/807;.08440-070/:.3 907/;0781,-07814:

-3.70,83907574/:.9547914417424308:..0881:70;03:00307,93574/:.99480;07,

%0708,,702,7091479080807;.08,70,/35,.0982,709809474,8/9,20/,

-0.42082470570;,039384.09,3/4-8409090.344088:.,89,5088,3/70.47/81:7907/0.30

4408-7,3/8970394:/-0-0301., 3982,709 83.0 902:8.,3/24;0/434,/3

3/:897870,90/944408,70,41050798009806:;,03994,33/:8970,/073902,3:1,.9:7041

82,54079448/;07813394574/:.3.43.70902078,3/5:2587,9079,3905407944.425,3

/;07813 394 /,5078,3/4907-,-574/:.98 0,9-7,3/4443 , 5,7 41/,50780439

97,3829908,202088,0416:,9,3/05079809,994:/43,3490795041944

-438

550%:308438410,2:8./434,/32,709( 4250939 , .425,3 9,9

438982:.41902,7098,70,3/,82470050703.03983/:897-0;07/11.:9

3.70,80890574-,-941.4579317302039,8:98

$198025,88,,17424408.470574/:.99080,7.033019080,7.0330829,90/47 8:75,880/ - , -09907 574/:.9 -01470 440 089,-808 , /423,39 548943 ,3/ 70,907 574198 ,3/

70;03:081742983003/0,;474402,480,,705,794198,248984084:7.04170;03:08

#0:,943,3/9703/8.43.073374,9085,/94,79898,3/2:8.574/:.943.425,3082,70/:.0

9057419,-941983/:897

0,/434,/32,3.70,809070-70/:.3908041900,/434,/32,709

#06:708 2,39,33 0893 ,/;07983 -:83088 24/0 ,3/ .70,93 ,3/ 2,39,33 , 30

89.-4,7/24/0 .4330.932:950 -:3/434,/0789 2:950 803/9,2:8.,3/;/04

8:55078

0;0453080,7.0330/0830/1478034782,70984404/0310080,7.0330

,8,345943147,/:893908041901439:80/439080,7.5,08-,80/4390.,5,-9084190:8078

;843,3/,48803478949503,6:089433890,/41:89047/83,//9439.439,3,1:3.943

9,9.4250908 47/8147 90 9589 1 0 4780 84.44808 0,3 3907309-74807 ,//7088 -4 /408

.43.0397./;0781.,943$


49/149

,!748

78924;07,/;,39,0.4:/-0,30/-14.:8343982,709802039$03478,;0-0033470/

1479024895,79390/0;0452039414330574/:.98,3/807;.084.425,3.:77039.,90789490

300/8414/073907309:8078

$0347870570803990,7089743/0247,5.413907309:8078,3/705708039,,7080203941,84.0908

%0-,--442078,70,3,3/,39/02,3/574/:.9814.:80/43907300/88443

4405488088089013,3.,7084:7.08942,098,5503

440,8454880880890-7,3/897039,3/,,70308894,550,944/07:80784/073/;/:,8903/

94 0 ,707 89,-0 089,-80/ 0343 .425,308 ,8 455480/ 94 82, 30 70,9;0 :3343

89,79:58

70,93574/:.980,70/94,7/4/07:80782,3.70,809073907089344080893574/:.98

&9080893,/;07983-:8308824/0944-9,370;03:0817425,,84:..,/;0798020398

-438

%4/,84/073907309:8078,398,3/300/8,705447:3/078944/-9043303/:897982,08

/0;0453574/:.98807;.0814.:80/,9902,78:3/079,33 90847990724:307-,--442078

,70 1,2,7 9 .:77039 .425:907 8419,70 -:9 .:77039 803478 ,70 088 1,2,7 ,3/ :80 .425:9078 2470

31706:039,3/147088,.9;9080902,02,-:934984509038;04330

3.0440 039078 982,709,3/574;08 902,7098 ,997,.9;0 .425099433.70,80 ,3/

57419804/43,8902,7092,9:708

%0/0,412,70934330574/:.98,3/807;.080,70/94,7/4/07:80788,3007430-:9,3

29,-04304907.425,3082,,;0, 70,907:3/0789,3/341 904/07.438:2079,344083.09

,814.:80/43574/:.98807;.08147,572,74:307,:/03.09/1107039300/8%820,389,94907

.425,308 2, 574;0 94 -0 2470 8:..0881: 9 98 2,709 802039 9,3440 -0.,:80 41 , 70,907

340/041904/07.438:207

/07 :8078 2, 43 -0 39070890/ 3 02,3 ,3/ 2, ,;0 990 3907089 3 ..3 43

,/;07980203989070-407390/087,-9415,.3,/;079802039843440830574/:.98

,-0,7/9470,.2,70980203994314729024130574/:.9

0;045$4.,09473$89024403,043.0397./;0781.,943$

,!748


50/149

,.0-44,3/$5,.0,70-49;07545:,7%4/,3907309:8078,70,7089/0247,5.94

03,0384.,309473898,074:5,08900.4393:094:8084.,3094738908

,3/4:3073/;/:,803907398,074:50,8403,0384.,309473;,90.425:907

74939084.,3094733/:8978;79:,,88:70/907493983/:897825479,39147

440,/;0798370;03:0803.70,80,8,/8,705,.0/4384.,3094735,08

70,908 90549039, 147,3490757419,-0,/;07983 5,91472 70/:.08 9070,3.043,/;07983

70;03:08.70,90/1742430574/:.99080,7.0330

,3.70,803907089344084907574/:.980,84.,3094707:8084402,0894803/,

5.9:7041,/08079748094,34907,7/0307;,4408309473807;.0

4:/ .4252039 4408 0893 28843 41 47,33 90 47/8 31472,943 9 , 30

,//9439490288437,339047/831472,943,3/50450942,09,3/902:3;078,

,..088-0

440889743-7,3/,3/705:9,943085,73907089174284.,309470783440830

3094735,91472

440 ,8 90 13,3., 7084:7.08 94 .70,90 ,3/ ,/;07980, 84., 309473 8900907 ,430 47

974:,439;039:70

&908 0893 ,/;07983 -:8308824/0 94 4-9,3 70;03:08 1742,/;0798078 974:4408

/47/8,3//$0380

0305038;0942,39,343.098740/4:9

-438

$4., 309473 2,709 2, -0 8,9:7,90/ :8942078 2, ,;0 , 907 300/8 209 974:

,.0-44 ,3/ 85,.0 %080 .425,308 ,70,/ /423,90 90 3/:897 ,3/ ,;02470 340/0 ,3/

050703.03982,709

4402,349-0,-094574;/0,330334;,9438384.,309473

40839:90907/893.9;080,7..4250903.

,349574;057419,-0,1907,.489-03019,3,88 8.43/:.90/83.0,/;0798020398-0088

14.:80/43801/03910/2,709 8020398 470,250 1430 .43/:.98,3 390730980,7. 147.0;07,

$:-7/, 800/8 , 8:..:039 5,39 ,/;0798020398 70,90/ 94 5,398 2, -041 3907089 94 90 80,7.07

40;07 ,3,/ 70,90/ 94 5:7.,83 8:..:039 5,398 43302, 349 -0412:. 3907089 94 90 7,3/423/;/:,,990259394.439,.9,349073/;/:,48039070898,3/300/8,70,84:3343

#06:708,/110703980941.4250903.089,3440,70,/5488088082,8902489-,8.84.,

3094732094/,3/440//349507147203.70,93,545:,702,88902


51/149

70,90 4503 84:7.0 30947 147 90 /0;0452039 41 ,55.,9438 147 24-0 /0;.08 440

7.90.98.43.0397./;0781.,943$

,!748

,70988:55480/94,248997503803903091;00,78

440,70,/,8340/0414942,03907309,55.,9438.425,9-0924-0/0;.08

0.4330.9344080,7.03309424-0/0;.08

981470.,890/9,9,1413907309:8078-024-03907309:8078

440,89013,3.,7084:7.0894:3/079,0-4990574/:.9/0;0452039,3/,/;07983

440,8050703.0,3/,-9039.420894/0;04533907309,558

4:/-0 809 :5 94 ,..4224/,90 4408 0893 -:8308824/0 4-9,3 ,/;07983 70;03:08

974:4110731700574/:.98

%,08,/;,39,041334;,9;090.3.,89,11

-438

$911.42509943550,70,/,8,,702,7098,7014724-0,55.,94389,9,70:80/4390

!430,3/49078.748419,84507,93889028-0.4202470.4224/90/0039079024-0

3907309,55.,94382,709

,3490307,902:. 70;03:01 .:8942078,;0, 13903:2-074123:9084390724-0 5,3

:894207839889:,943,7034909403,037,9:94:880,7.3147.:748988,0

0440,8574;03,/059,9.70,93,55.,9438907/893.9;0.4250903.708/08380,7.

0330 0.003.0 0;0453 ,558 147 24-0 :8078 706:708 , /1107039 8 809 ,3/ .470 .4250903.

4402,349-0,-094,3.425099;0,/;,39,03982,70983.00307,93,55.,94382,349-0

430907/893.9;0.4250903.08

70,90, 80,7.807;.0 /0830/ 944.,902:8.3, 8:507472,3307440:8.%080,7.

889024:/,4,:80794039073,35,7941,843,-,3/3,20,8433,2047,3,20,3/90

80,7.574;/0708:989,93.:/034943,99080,7.078850.1.,443147-:9,843894

90-,3/80-8903894890339447/434,/3,5,79.:,7843472:9508438174290,7989,3/

3894490770,90/8908089089,941107:9,79,-,9:7014790,7989478432039430/39080,7.

,!748

,997,.92470:8078949044080,7.0330.3.70,80890/087,-941,/;0798343

44080-5,08

4402:8.3.70,80-7,3/4,9,3/897039,89200982470414408.:8942078300/8


52/149

8970390390/087,-9419080,7.03301470893.:8942078

.,59,0434408/893.9;0 .4250903.41 .70,93 , 80,7. 0330 9,9574/:.08 2470

,..:7,90708:989,3490780,7.03308411070/-.425099478

,//7088 90300/841 90,70802039 413907309:8078 9,9:8090 39073091474-9,33,3/

03432:8.

,574;/0,3,//943,84:7.04170;03:081742-,3/89,94:/094,/;07980907574/:.9843

440:8.8708:985,08

-438

&8078.,3,70,/13/,4190809028:839097,/943,44080,7.0330

0,//99094440870;03:08970,2

40839,//708890574-0241440435488088343057419,-0574/:.9

4083997:200990300/841 39073092:8.:807883.09/40839,4:807894/434,/2:8.

/70.91742440

4894190708:980-0,/;0798020398&80782,349,399480,7.974:,/;0798020398

$97,90.!,333!74.08808440

$905;,:,943419047,3,9438.:7703928843,3/5:75480

88437,309047/831472,943,3/2,09:3;078,,..088-0,3/:801:

!:754804:807894-0 ,-09413/31472,94332,3/1107039,3:,08.0.894.6:49082,58

,3/3080,/30844:55430-4489381470;07.9390&390/$9,90880,7.-438412,08

,3/507:809047/8,7089,7.;041&803092088,083,//9438:5547994:8,3/841,/;079807894:80

4408/47/85747,2945742490907574/:.98,3/807;.0843900-99,7090/,/;07983

'843


53/149

[ $4799072 4-0.9;08 ,70 94 05,3/ 90 47147.0 147 ,39.5,90/ 749 05,3/ 1:7907 394

39073,943,2,7098,3/.4393:0/0;045330574/:.98

[ 439072 4-0.9;0 /0;073 30 ,/;07983 90.344 5,3/3 90 47147.0 05

,.0;0 904390724,8440847,3,943 897:.9:70 8 572,7 1:3.943,-:9,84 3.:/08 , 10047,5.,47,3,9438

!4845

440 /408349 /4.:2039 ,'843 47 ',:08 43 90 440 0-890 %0/4 89,90 , 5484543 90

4400-8908420,70890/-04

4.:84390:807,3/,080144

98-08994/44309370,70,0

,898-099079,384

4:/439300/94-0,94:7/0894300/,3,3807

4545:58

$90588088203941909073,3;7432039

%880.943/03910890970,98,3/455479:390890.425,31,.08

%70,98

[ #02490#02490.43.0738147440,7030,8,3/70:,94383.70,833900.9:,5745079

.,28 ,3/ ,..088 94 2470 31472,943 0, 548943 3 3, 897.9 4;9 70:,9438 ,3/ .:9:7,

/110703.08

[ 3/:8973/:897 .43.0738147440 ,70.425099;0 970,981742,44,3/.748419,3/ 30

:3343 .425099478 9,9 2, -0 39073,943, 70020398 9 ,/;0798078 .4:/ 549039, -0.420

.425099;0,80,8,708:970/:.34507,932,73


54/149

[ 507,93 507,93 88:08 ,70 90 .:77039 ,/ -,80 /083 41 90 ,/8 ,3/ 8733 ,/;07983

-:/09841.:8942078%06:,941807;.0574;/0/-9044047,3,943,3/709,336:,10/05

8,84,34507,9388:0

55479:3908

[ &32,550/.4:3970805,3/3807;.08549039,147:334370438

[ 0,/;0798020391472,9,3/97,.320.,382830334;,9434190.344

[ $0 41 .:77039 .:894207 -,80 ,3/ 2,709 8,70 8 82, 549039, 749 ,3/ 30 ,/;07983

,70020398

$905880882039419039073,3;7432039

%880.9434190897,90.03;74320398,70,89.,3,8841440839073,7084:7.08

$970398

[ $0,7.0330/1107039,9434408897,90.,70334;,943,3/.43.0397./;0781.,943

[ 25400 14.:8 440 ,8 , :36:0 .:9:70 ,3/ 54.08 94 5742490 334;,943 %0 .425,3

897;089402549024896:,10/,55.,398,3/70,7/9070,9089.4397-:9478347/0794574249044/

5071472,3.0,3/1,.9,9073,3/70903943

[ $9743-7,3/3,200343-,:8078,890-08980,7.0330

[ %0,/;0798078 709:73 433;08920391742,/;07983.,25,3843 4:70-89084:9084907

1472841,/;079802039807,/4900;84347305,5078

0,308808

[ $97,90. .439748 .,3 -0 ,70 ,110.90/ - 03;7432039, 1,.9478 30,9;0 .43806:03.08 41 ,

831.,39 5407 4:9,0 440 889028 ,70 ;:307,-0 94 ,3 00.97., 807;.0 /87:59438 708:93 3

807;.0-0325,.90/

[ 090.344089,9/4349.42520394408.:770394507,93889028

[ 0,7,70;03:081742,/;0798384:7.0


55/149

[ 3/33000254008,3/317,897:.9:70.4:/-0.,033

$905#00;,:,943419047,3,943828843,3/4,84-0.9;08

,80/4390$%,3,884139073,,3/09073,1,.9478903090,78/013090430;9,3/

8:89,3,-9 41 440 ,8 , .425,3 ":. ,3/ /7,2,9. .,308 .,7,.9070 90 90.344.,

03;7432039%4005:59902,7094405,389414.:843

[ 3,-3:80789480,7.,,707-,804131472,943

[ 0;045397,.320.,3828,3/30,/;0798390.344

[ 70,935,90398,3/3900.9:,57450794/900894,33.425099;0,/;,39,08390

2,709

[ #09,33,3/70.7:9390-089:2,37084:7.08,.79.,1,.947147440347/079470,.90

.,33300/841.438:2078,3/,/;07983.0398

$905472:,9430;0452039,3/2502039,94341897,90.5,38

$97,90.!,333

[ 3 47/07 94 .425090 9 490720/, 99,388:. ,8.748419 ,3/,44 440 ,8 84:994

025490540741/1107039,94394 .70,90, .425099;0,/;,39,0 :3/0789,3/80,.9,94:20,3

,3/;084:-,.0,.9,94:,39

[ 553.43.0397./;0781.,94314.:84390.470574/:.94180,7.807;.0890.425,3,8,84

-003 ,-0 94-03019 1742 , .425099;0 ,/;,39,0 3 1,8907 70854380 9208 70,907 8.,,-9 ,3/ 407

.489803.034943/408440,;0, ,/;,39,0390/1107039,943,703,-:9,.489,3/8500/

,/;,39,0,80

[ 44041107803074:8894.459438,3/574;/070,0/473,9248507094709,390-0899,039

,3/ ,3 025400 39070898 9 8,704/07 39070898 440 574;/08 1700 :3.08 0;07 /, 147


56/149

0254008,3/03.4:7,085,79.5,9433900074074.0,208%0.425,370:,785438478

0254004:9388:.,85.3.8,3/839758

[ 439473 897,90. 5740.982:89 3;4;0 .439303.5,333 3 900;0399,944085708039

574/:.9 4110738-0.420 4-840909 903;039434130 3907309 /0;.08 ,3/3 .,80 41, .425099;0970,9%8.,3-0/430-.4393:4:8243947341 .42509943,3/05,3/3.:77039574/:.94110738

,907341/,9,/09,3.438:207300/8,3/80,7.57010703.08038:709,9440.4393:0894-0,3

3/:8970,/07,24380,7.03308


57/149

$//,83,847547,90#0897:.9:733.70,80/$,704/07',:0

$$%"&$%$

,98,//,8.47547,90897,90,89070,.42243897,90.,5574,.:90/32,3,390.425,3830:54185479344/8-:83088085747949870897:.9:73,890.47547,90897,90

.,30/970897:.9:73,984:70;,:,94341,//,830:541-:83088083,9/408,.03/:897,997,.9;03088-:830888970392,97/85,3,//,8-:83088:398440408,//,8-:8308830:50-944/897,90.19,9;,:0.,32,9.:580898,9455479:39081478897,38107.4898,7347-7,3/8,73,700;/039!7479498/;0899:70,93/41897,90.1980890/-09003,//,8.470-:83088,3/98$,4243-:83088:39,8,//,8-:8308830:50-90/44/7084:7.019-09003,3/,9,;0-0039013,3.,.,7,.90789.841982,47-:830888020398/:739,99205074/.-:830880829,;0-003.438/070/.,848,3/.,8.48,80/434:7,3,8841,//,8-:8308808//9070897:.9:73:3/079,033,3/2,0803804089,550,790,.6:894341#00-439073,943,574/:.007709:7381478,704/078,9897,90.,.943884:/,//,89452,3,0203939,90942574;090.425,3813,3.,,3/2,709

5071472,3.0349,970897:.9:738.425090

Jfffnff"Jffnfnffn ff

nfn"fnf

fnfn"

fnfffffnf

nnnffff-fnff

ffnnnnnnf

nf

ffffff9fn

nff% $$ff

n$$f$f$ff$fff9fn

fffffffffnff

-fnff

ffnffn#f

Jfffff"Jffn

ffn$ ffff"

f-nffnfffnf

fffffnnff


58/149

nf%$$ffnfnfn$$$$fn$ff

fn 9fnfnnf

fnn% $$ffnf

nfn$$$$f$ff

@fnn

nfnnffffffnf

fnffffn

ffffnfffnf

fnfffffffnf

fffn"Jffnffn"Jf

fnffff"9

ffnffnff"

fffffnf

fn@fffn,fnfffnfn

f,fnfnfffffnfff

fnnnfffnfnffnf

Jnnffnffnnn

ffnffnnJnfnfff

ffffnfffnffnf

fffnfff#ffff Jf

ffffnf#nffn

ffnnnfnffn

fnfffnfnf

ffnnfnffn

fnfffnff

ffnf


59/149

fffnf"Jff

fnfnffnnff"Jn

fnnffnfn"

-ffnfffffnfff

@f,fJnf ffffnf

f#nffffnf

ffnffnfnfnff

nff-nffnnffff#ff

nffffnnf-nfnffffn

fffffnff

f"fffnffn

f"Jffnfnff fff

nffnfff fnfnn"

nnfffff

nfnn#ffffffff

fnfnn-

#ff

ffnnffnfff

fnfff#ffnffff

@fnffffnnnn@

fffnnfffffnffnf

ffnn

fffnnf#nf

903/0/ 047,5. 70,. ,3/2470 -,,3.0/ 8,08 57410 #00-4 .425020398 ,//,88 39073,943,

57410,3/03,3.08,//,88897435489433479207.,479207.,7057080398,55742,90

41904-,85479344/82,709,3/9#00-490,//,874:58479207.,38,0824709,3


60/149

/4:-094-43&$-433:7450,3/8,,//,803488974307-7,3/70.43943

,3/ ,8831.,392,7093 0507980 ,3/3898,//,8050.9894 :8098 0507980 94 1:7907/0;045

#00-484-,570803.0

47/.,88,3/9,0390/025400849,//,8$,4243,3/#00-4-73,30.05943,90,2419,0390/

,3/050703.0/025400894903074:58,708:9419897,38,.94374:50254008,;00;03

24700.934-455479:3908

74,/075479144 4147/703430/-7,3/8%0.42-30/ 0399 ,;0, 2470.425090 5479144 41

-7,3/89,9.,907894,4-,.438:207-,80%05479144-0,3.470/-94-7,3/890/0130/

/039908,//,8,0,/0738547985071472,3.09,:7450,3079,0,3/#00-4,3207.,30,/073

854798 ,3/ 10890 574/:.98 9 98 -74,/ 5479144 41 -7,3/8 3.:/3 ,//,8 #00-4 %,47,/0

#4.547970472,340.94341,,3/4490,//,874:5-0,-09441107

14490,7 ,55,70 ,3/ ,7/,70 574/:.98 -,80/ 43 .:9930/0 90.344 9703/80993 897009 0,7 ,3/

.,88./083

2470 .425090 574/:.9 411073 3 0 854798 .,904708%0 30 ,//,874:5 ,;0 , 8974307

570803.03207.,3854798,3/ ,.425090574/:.9411073 9,9,//7088080854798.,9047083.:/384..07-,809-,7:333207.,31449-,4.09033897,334:9/447,3/41

$974307 570803.0 ,.7488 90,28 ,90908 0;0398 ,3/ 0,:08 ,//,8 050.98 9,9 90 .42-30/74:58

89743570803.0,.748890,28,909080;0398,3/0,:0803,-09948:-89,39,3.70,809047//0

;8-94198-7,3/8%074:5803/47802039.4397,.983.:/02,3419047/809090,288:.,8

#0,,/7/,3 ,073:3. ,3/ ;07544 ,3/ ,90908 8:. ,8,;/ 0.,2 %7,.

.7,/,43,3/03;07843,80,8574104-,0;03988:.,8 9047/

:5%,3/900325.8%074:5,84,;0.038370,9438589 90&

,254380,:0%24709,39039,943,25.42299008,3/1;05702078547930,:08

90,3/$

3,3.0/#.,5,-908,3/.:9930/0 90.344,//,88 ,3,,7/33390.3440,/073

90 3/:897990,//,8 334;,94390,2,;3/0;0450/.:9930/090.344088:.,8,//,8*

90 1789 390039 7:333 840 2,44%,3/ ,##00-4 ,84 ,8 , ;07 9,0390/ 74:5 41

050703.0/ 7080,7. ,3/ /0;0452039 574108843,8 4 ,;0 /0;0450/ , /893:80/ 5479144 41

-70,974:574/:.9334;,94383.:/390!:25,3/

,730883 -49 .425,308 # 0507980 90 30 ,//,8 74:5 050.98 94 ,..007,90 30 574/:.9

3974/:.9438 3 14490,7 ,55,70 ,3/ ,7/,70 94 05 /7;0 3.70,80/ -7,3/ ,,703088 ,3/ .438:207

/02,3/,.7488,-7,3/8

4390398


61/149

,.74:3/

,//,833/,

3/:897$.03,74

$.45041$9:/

438:2078

438:2070,;4:7

3;7432039,3,88

#09,

425099478

$02039,943

%,7093!489433

#0.42203/,9438

5503/

,.74:3/

,//,88,072,3854798,55,702,3:1,.9:7075,794190,//,874:597089070/,8,//,843

::89 9 407.,80 099073 ,//,8 %0 .425,3,8 3,20/,1907 98 14:3/07/41 /

,8807489,790/574/:.384083 908307403,:7,.30,7:702-079 9005418

-74907#:/41,88074,90714720/7;,840.425,3!&%0.425,38.493,3/840

/0838 95., 3.:/0 9700 5,7,0 897508 41 90 8,20 .447 ,3/ 90 8,202491 8 3.47547,90/ 394

,//,8411.,448

,//,85,3894-0.420900,/0739047,380/85479814490,7,3/8547980,72,709

,//,833/,

,//,81789039070/3/,3974:,.03.0,70020399,9,,//,8,90770039070/3/,14790

80.43/9203974:,439;039:709,3:239073,943,%7,/3425,39/9,339,


62/149

3;089203941243 941472,//,83/,%7,/3!;99/,//,84/8,507.03989,03 90

.425,3

%0.425,3,:3.080;07824398-09003,3/30/0838314490,7,3/-09003,3/

30/08383,55,708%0,55,707,30857.0/-09003#8,3/#809014490,7857.0/-09003#8944;07#8,//,8574/:.9833/,,7084/974:434:90980.:/3

2:9-7,3/4:9098

%0.425,3.83431471449-,,3/7:33384083974/:.0/98.7.090,733/,3

%0.425,3,/0708 94897.96:,9,3//083850.1.,9438,3/:808902,3:1,.9:73:3941,,3

4490,7942,3:1,.9:70904.,574/:.0/,//,87,3033/,

74:3/507.0394190.425430398,704.,84:7.0/

3/:897$.03,74

,841

4490,7-7,3/8/70:5,2-94:85,389,7093,,707,:/03.0,3/072,7098,70

-7,3/8 0#00-4,3///,8,:3.0/ 900;843 .42207.,8,1907,,5 4114:7 0,78 ,3/ -7,3/

845807010/9,1708,3/:57,/0/574/:.930:5

%0 30 /897-:943 897,90 14.:80/ 43 0903/3 90 70,. 7,907 9,3 0.:8;9 ,3/ ,9 -74,/-,83

/897-:943974:90:589-7,3/0/709,078,3/80993:58453845532,8

47,//,88,08410757.0/14490,770.47/0/897437493,3/90.425,3050.90/94

.480900,79,507.039749

!70,//,8,/90/:59,9,,3/44/,3/,3/1789-0,3054732:9-7,3/4:9098,3/709,

2,8


63/149

#00-4,8 8,90/ 9474- ,2489 507.039 ,,389 507.039 3,3/ 14.:80/43 98 4-,

!071472,3.0#,30574/:.98,9,89,790/709,34907-7,3/80#00-40,3/0044507

84190.:770395702:285479844/82,70933/,,8;,:0/,74:3/#8.74709398

2,709,//,80348.438/07,-0-7,3/06:9,3/8.438/070/,243900,/339073,943,-7,3/83

90.4:397

$.45041$9:/

:774:5,8800.90/903/,34490,7909.,8!74/:.9,9047

%02,32:93,943,5,0783983/:897,700!:2,,,//,8#00-43/,35,0783.:/0

.943$4089/-0794490,74,3/,9,3/,9/

%87054792,3.438/070#-#00-4,8.425099478147,//,8

,417080,7.0,;0.43/:.90/,.438:2078:7;0,80,88540394,10709,0784190 945

-7,3/83903/:897

438:2078

303,//,8039070/903/,32,70993974/:.0/90.0,50897,304184089,/0;0784/%03030944394,..4:399025479,3.041,1147/,-93903/,32,709,3/90.425,3050.90/90

24;09405,3/907.:894207-,80-

:994/,90.:894207,8.,30/3/70,8030741,//,83/,908:8%4/,83/,3.:894207

8,,704139073,943,1,843,3/90.344,3/0.,708,-4:990208 ,84, -854798039:8,89

0,;0,843490/90300/147.4389,39.,30.25081,89079:73,74:3/147/0838,3/90701470

3007574/:.98

3904907,3/90-:3050703.0 8-0.423.7:.,%0709,8.03,743 8547980,78.,33

,..47/32,709078,7014.:8343845/083,3/807;.0,3/43-7,3/.4388903.,.74884:909890

,705,3,5702:24390.344,3/334;,943%8,8,84-00325,.90/94,,7009039-902,

2,3,,3/907494190897009

7424:7200939 ,//,82,709300.:9;080,9070/ 31472,943,-4:9490 /0130/ 907

9,709/0247,5.%09,70990,074:5-492,08,3/102,089,24393.420414;07

#8

%0.438:207895.,,32,0.438.4:88547981,3-:934930.088,7,8547982,3


64/149

438:2070,;4:7

:72,709 7080,7./0;08394 90.:89420723/809 973 94,88088 90545:,943,3/.423:59

/0247,5./09,8,89444:79,709.:8942078%88-03/430-,9457430/897,904170,.3

4:994904:3473.,884390430,3/3,3/,74:3/#,3/,84-,8808839089:/039897,9,

4,705:78:390754897,/:,943%$$09.%84:/0,;0:8974:805,7,90

,880882039843-:07-0,;4:743.05,394-,804:789:/08

$9,9:8841,7

#08543/0398

,908417085438094

0247,5$9:/039854897,/:,904:3473.,88

094/418:7;0330

$420414:74-807;,9438841,7

3 ,74:3/ 41 90 949, 708543/0398 .90/ !7.0 ,8 90 3:2-07 430 1,.947 31:03.3 907 5:7.,80

/0.843,3/,349076:08943840/9,9.42147909,3/893419084007025479,39002039841

90840%839,80028943/.,909,9903/,3.:8942073443071989057.080389;0890704950

-:9,.480744,990708:98848,/11070395.9:70%08:7;0,84840/9,9-:/090/088

9,3#81479078547988408%88489,90!7.08,248930;0790248925479,391,.947147

2489708543/039898.079,3,;0725479,39.438/07,943

470708543/039843,#00-45,79,3,//,880.43/5,.0,3/097/-:903,80/.-7,3/

904:/09443094550/891440/-,//,8,3/#00-4%88489,9#00-483/,3

57.3,82,3,0/94,997,.924702,7098,709,3987;,8-:9089,890089-7,3/06:9,3/

507.0;0/;,:0

0 -03 9047//0 0,/07/4080 43,/;0798020398 ,3/;007.:894207 ,9903943.,9.3 ,3/

.,770890-0892,04190945-7,3/89890-7,3/9,950450,399443

%08:7;0,8470;0,0/9,9.:89420781099,9$,08$9,11$07;.0,890248925479,395,794190-:3

050703.099-0,99049071,.9478-,43,

3;7432039,3,88

47/:5,3/4907449-,%4:73,20398


65/149

%047/:584-,%',3/0-,:/03.0,8-079,39025.84790$:50748-43

3420;007847//0//,8,8,3411., 8543847,3/5,/147 9079894 8:904:9 41%'

,/;07983390&$147,,208

%0709,0780854094,.340/0/9,99047/:5.,:80/,8,7585038,08-4941901449-,

%0,2089,3/14490,707808

4-,-03/:30,//,8,/,70,/84/-43479411449-,574/:.98980,74394

90 903 434347/ :5 449-,70,90/ 8,08070050.90/ 94 89,-80 ,9 89 ,-4;0-43

0:748 3 -01470 783 ,,3 303 90 1449-, :7450,3 ,2543858 9,0 5,.0 9 ,/

,70,/84/ , 70.47/ 9700243 705., 07808 3 90,0 41 90 1449-, 0;039 3.:/3 243

078084190072,33,943,90,2

990 570;4:847/:53 90 .425,384/ 243 10/07,943 07808,3/ 072,3

07808

9,8,8484/24709,32434198%0,208947/:52,9.-,8.425,70/924341

90705.,-,1479094:73,2039

//,88,3411.,85438478:5507,3/.03800419047/:5,3/88543847383,943,90,283

90 94:73,2039 3.:/3 489 .4:397072,3%700 90,2885438470/-//,8 072,37,3.0,3/

70393,70,.0/906:,790713,8,3/7,3.0039974:949013,8

//,80892,90/984-,8,70419084..0714490,72,7097480-507.039,05439894507.039

,99003/419017896:,7907

%0.425,3,84,334:3.0/9,99,8830/,4390725,793078594-0904-,8543847147:74

. 9,0 5,.0 3 :897, ,3/ $907,3/ 9 ,8 ,84 0903/0/ 98 5,7930785 9 90 &

,254380,:094-0.42090411.,-,8:5507:39

!442

%8-44233/:897,802070/,8,-44314790:3/70/84194:8,3/8414-:3933/,34:9,3/

,289474394#8.74703/:8970307,934;072434-8-

808,05,3,90790,0397074/8.,7,.90780/-/8548,-03.420.88503943

10890574/:.98%070147098.43899:908,802039413.70,8325479,3.0147,//,8

#09,

0;890/ 709,078 410,/3 14490,7-7,3/8 3$,09 $4:90 ,3/0,30/ ,3 389 394 9047384190709,-:83088!074/.,200938,700/07090.425,38488,25084198;,74:8

24/08,3/574/:.989490709,07898:594 90709,07894/0./0.574/:.9890894.3907

84584,3/03905:990243/85,,3/0390-05:9:51478,0%:8709,4:9098

41908,20-7,3/290,;0/1107039894.841/1107039574/:.98,9908,20920

$,0889,118,3490725479,391,.947%0#00-4709,0794/:89,9#00-4/408349,4709,0789470

907438,0889,1194:9.425,3,5574;,8,0889,112:895,8890.425,389089-01470099390


66/149

4-%0 8,20/408349,5594 ,//,8 94:#09,07814798.425,3,70,40/ 9470 8,085078438

90100-00110.9;0%7,331478,085045040;07,55038,.748890-4,7/#00-4-00;089,9

3;089338,08504508,.,:80147907078,08,3/-0,84:7.0418,087493901:9:70

70,$,08,3,078$8,703.4389,3994:.9907709,078,3/,.9;09,0907100/-,.,3/

8:089438 ,//,82039430/ 9,9 90 4..,843, 0254 289078455078 94 09 , -09907 100 41 90

.:8942078507850.9;0

%0 /F.47,3/,2-03.04190894708 8:3/07 90 .439744190709,07-:9 89 :/0/- 90 .425,38

/70.943%0 3:2-07 41548907893 90 89470 90 950 412:8. 09. 0307,.4314728 94.425,3

54.

425099478

0

03.8,2,47207.,32,3:1,.9:70741,909.8408,55,70,3/85479806:52039980343

1479889743854384785,700203989,909080,:08,3/10/07,9438,80,82,3419047/8945

1449-,.:-8,3/3,943,90,283.:/3,3.08907&390/7803,7,,3/0;033/,

08900,/3-7,3/385479814490,747//033/,0,;080039,9,94:98-7,3/2,08

44/988,08,703490574/:.98/439.42574280436:,9,3/,70,,81:57.0%0/4349,;0

548980,843/8.4:398,084314490,7:30,//,8,3/#-034-7,3/.,3300.990 57.0

80389;0.438:2070 .079,3 /408 349 9,709 902%0 :8090707507.0;0/;,:0 94.,70,

5702:2147907574/:.98

#00-4

84 343 - 98 .4397,.943 #- #00-4 39073,943, 290/ 8 ,3 34207.,3 479:30

.425,3348:-8/,741//,8,3/574/:.0741,909.14490,7,55,70,3/,..0884708

4:3/0/ 3 90 1,2430/ -:83088 574:/2,/0 90 7:333 8408473 3 90 $:2207

25.8-90,90908,74/-7,,28,3/7.//0.00-7,90/39012,74984170

3::894304190.425,38,70897;,8//,8,334:3.0/9,994:/,.6:70#00-4147

-43%0,.6:89434:/3.70,80,//,82,7098,703479207.,,3/,49945480, 8074:8

970,9949047/8-0892,0741854798,55,700%0/0,,8.425090/3,3:,741

0,9070/174290709,0789,933/,,//,8,3/#00-4,7089;072:.3.4250994390,.490749,70973940994905489435708:2,-94,7307,82:.2,7098,70,890.,3,3/3

90574.0889,0842017420,80

$02039,943


67/149

47,//,8902,70980203983.438/07,943,70-,80/43/0247,5.858.47,5.8,3/-0,;4:7

%0/0247,5.802039,9438-,80/43,003/073.420,3/4..:5,943

%02,70988020390/39497002,3.,904708-,80/43,0%0808020398,70,074:580,78

0,78,3/,-4;00,78

,80/4324394:804/3.420902,70988020390/394-04#852#894#852,3/,-4;0#852%02,709 8,848020390/-,80/4303/07,3/4..:5,943.0,/894

/1107039,/8548,-03.4208

!8.47,5.802039,94384170,925479,3.014790854798403/:897%0073.42074:58,70

.,8810/ -,80/ 43 907 903/03.08 394 14:7 2,47 .,904708 90 334;,9478 93078 ,.0;078 ,3/

050703.07881479074:589088077084:7.0890,70.,90470/394-00;078897;0782,078,3/

8:7;;478

&3/07-0,;47,802039,943,325479,39:80774:58 90 854798,3/ 193088.438.4:8 545:,943%8

802039 8 1:7907 8:-/;/0/3942 70:,78574108843,,3/ ,2,90:7,90908 ,3/0;03/7,37442

854798039:8,898

%,7093!489433

,80/4331472,943,9070/1742709,078,3/,//,800.:9;08980;/0399,9902,47/0247,5.

8020399,7090/ -,//,8 890,0 74:5 41 0,78'07 10 14490,7574/:.98 ,70 ,20/ ,9 90

102,02,709

,//,89,70984:804/8924393.420870,9079,3#84:804/893.4208-09003

,3/7:50085072439/439-:,305,7,841903,8073.420-7,.098%88572,7

-0.,:8090:808408,88408,3/349,88902,0574/:.989825479,399,9039874:503907890

2,7099 ,3 3903943 94-: 9084:/-: 1742,//,8%4 038:70 98 ,//,8 84:/ 80 /:7,-0

.421479,-08408,9,70,843,-057.0949874:5

.7:.,802039,//,8,8/03910/890,0397074/%880203988:-89,39,390209748,3/

8050.90/94.4393:0987,5/7499.438898412,0.438.4:84:94,700,733-:9,7034909

3/0503/0398%820,389,9907039703.4208/8548,-0,//,88008900898,7041,091742

9080.438:2078

&3/0758.47,5.8002039,943,//,89,7098

W 50703.0784:3039:8,89.25:8;0504504800;,709,3/0.902039

W $97;078%703/,3/1:34;3504504,707084:7.0.43897,30/-:91,;4:7898574/:.989,9

02:,90905:7.,80419480970,9072,907,0,9

W 2,0 7;078 %0 0,9 10 4 809 90 9703/8 3 907 84., .7.0 %8 8 90 802039

7085438-0147908034:94190#8,//,830,//,8248905038;084033/,


68/149

%0 .425,3 9,7098 -0,;4:7, 8020398 ,84 %0 854798 ,3/ 193088 .438.4:8 545:,943 8 1:7907

8:-/;/0/394 2 70:,78574108843, ,3/,2,90:7,90908 ,3/0;03 /7,37442 854798 039:8,898

,//,8,8850.1.574/:.981470,.4190808:-.,904708

748897,33 8408 7:333 8408 09. ,70 ,20/ ,9 2 70:,78 ,3/ 7:33078 $408 ,70 /0830/

850.1.,1478547980.7.091449-,-,809-,,3/340;03,/;039:70854798074..2-30

.,39,0,5,79.:,7802039.0.,,7/.4701449-,9701078944:31449-,0785,8843,90,-4:9

5,3 90854799 9020,38945, 44/0,2500704:/-0,//,8!70/,947.8098 90

89,3/,7/1471449-,89:/8

,//,879800890280;08,8 9047/ 0,/07831449-,8408%8890 43854792,7093.

90 0,/0 %0 -7,3/ ,8 -003 834324:8 9 1449-, 0;07 83.0 / ,8807 3;0390/ 90 1789

,/:89,-07:--078.704389:/83390708931,.9;0747/:533390,2-01470470,//,8

1449-,-4498

$547938570//0838,703.47547,90/394,//,810890574/:.9814790854798039:8,89470,250

90708,8409,98/0830/0,3/7;078840%000824/0/9419394901447-4,7/41,3

.,7,3/9084082,/04144/0,77:--07908,207:--079,99708,702,/04108590900114795:9394/083,3/2,3:1,.9:734190840988920,3994-0,10890574/:.9

#0.42203/,9438

1907,3,8390/,9,013/9,9,94:,//,8,8,70,9072,7098,709,398,7.7;,0989

,8-03/3-7,3/2,0%49,.098574-02034844:,9;07103/,38,;08003

4-,,//,8808574/:.98:3/07/;8438

,//,874:5.42574;/08:89,.0,7/013943419080/;8438

;843,$97,90

%0 /;843, 897,90 ,8-003/0;0450/ 94 574;/0 9700 /893.9 .438:207 80203989 574/:.9,3/

2,7093.43.05989,91:1907:36:0300/8,3//08708%09700/;8438,70

$5479!071472,3.0;843

334;,90945071472

%8/;8438 .42509014.:80/4390 ,90904 /02,3/85071472,3.0 1789,3/89080.43/;07

85479825479,39-:9902,3.,904708417:3331449-,-,809-,,80,89042038802039,7090572,714.:839072841-4914490,7,3/,55,70

$5479079,0;843

00-7,9073,9


69/149

%8/;843448944:75,891473857,943,3//70.94314790,:9039.,3/.43902547,7574/:.984190

1:9:70 %080 ,70 14490,7 ,3/ ,55,70 574/:.98 9,9 .0,7 ,;0, 14:3/,943 385479 -:9,7020,39 147

10890,3/8970090,7

$5479$90;843

4/073$547980,7

%0 30089 /;8438 /70.90/ ,9 90 890 ,3/ 1,843.438.4:8 .438:207489 /08708 9044 ,3/

,999:/04185479-:93,30247084589.,90/39075709,943989014:3/,9433854799,9,//,8,3/98

.438:2078,709,92,0898/;843840.93,3/1:41549039,147-4914490,7,3/,55,70

,//,8.,3.,2905720548943390090$.,59:738,7041-4923/,3/0,791903974/:.0

,//,873,8,84343,8079,0,3/,//,8$90%080,70 097020 :52,709 574/:.98

57410/08307841900841$90,.,7930,3/4,2,2494.42-30.:9930/090.3449:36:0893,3/5,884314785479

%803,-0,//,8949,70990.0;07858.47,5.80203908:..0884,470390/504504

14.:843.,7007 ,3/ 1,2,3/ 1,;4:75702:2574/:.989,9/0243897,90 8:..08894 907500784907

007

1907,.6:73,89,3,93#00-4147-4354:3/8,//,82:89574;090/0,,824709,3,2,709

8,707,-,3/3907,9090.425,30882449438/0739,9,//,890280;08,/2990/9,990102,0

2,7098349.,9070/94574507-:989,870,9549039,1477490939,9#00-484:/-0:80/

949,.09070,9;0:39,550/42038854798402,709 9.4:/,//943,9,.0 9057.080389;0

2,709

#00-4,8570;4:87434390-,8041,3:7-,38970095452,0%82,0/408349.431.99

,341,//,89,7092,7098,3/84:/9:8-005490/94901:

,//,8.4:/-0301917429,3 , 0,14:9 41#00-48709,-44#00-4 /408349,4709,0789470

8,0889,118,0889,11,;094,;05,880/,.0397,80/9089%8038:7089,9#00-470802540089,9

,7006:550/99079340/0,3/,999:/094,7/8807;.0 9,98706:70/94 8:..00/390 3/,3

2,709034 9,9 807;.0 ,9 90 5439 418,088 , .7:.,00203941 90 -:3 050703.0-0.,:80

4190708543/0398414:78:7;02,70/9,890830248925479,39002039

'3974/:.943

%8,3,888,-4:990.425,3,//,89,9-04389490,//,874:5%0,//,874:5808574/:.98

:3/0790-7,3/8,//,8#00-4,3/%,47,/0,//,841//,8843902,7094;070,78,3/808

574/:.98 147 0;07 3/ 41 854798 %0 ,//,8 74:5 ,8 14:3/0/ 3 90 0,7 - /41 ,8807

.425,3 9,9 89,790/ 9 803 84..07 8408 .439,38 94/, , /0 574/:.9 ,884792039 9 14490,7


70/149

,55,70,3/,..0884708%0-7,3/81:7907/;/0/39497008:--7,3/8.,0/,//,85071472,3.0473,

,3/85479890%,47,/0,//,8,84411078/07,30414106:52039,3/2,9.341,55,70,3/

,..0884708

3907 4205,0 90,//,874:5.,28 94-0,4-,0,/073 90 85479344/8 3/:897,//,8

74:5,90/4%0.425,3.,3-0/08.7-0/,8,4-,5,07-0.,:8090,;08:-8/,7083

/1107039.4:397089,9,70/70.90/17429070,/6:,79073072,3.8904204190,//,8-7,3/

0,/6:,7907841#00-4,3/%,47,/0,//,841,70390&$3,88,.:80998,3/,1473,08/08

90 39073,943,8:-8/,708 41 90.425,3 574/:.9841 9074:5 ,70,;,,-0 30;07.4:397 974:

907433089470%07897,90948:..0888.4393:4:8897039034:7-7,3/8,3/574/:.98942574;04:7

.425099;0548943,3/13,3.,5071472,3.0

%014435,50784394,3,009073,,3/39073,89:,94341,//,8:79079072,7093,3/

749897,9008-0,3,80/,4714.:841985,507-04390.:894207,3,88

749$97,9008

%00;,:,94341905071472,3.041,.425,384190320,8:70/974:74938,08749897,9008

/09072304.425,308,3994 3.70,809072,709 8,7047 8,08%0,70.7:., 147908:..08841,

.425,3,3/84:/-0800.90/ .,701:%070,70/1107039897,90.4594389,9.425,308,;0,3

.425,3085:78:0/1107039950841749897,9008,3/0.843841,.425,3,70190,399489,3

08932,709847 03907394302,7098,3/1:7907190,;00893574/:.98471 90/0;04530

574/:.98.42-3,94341 948014:70020398 0,/8 9490/1107039950841749897,9008503097,943

897,9008 574/:.92,709 05,3843 897,9008 ;079., 3907,943 897,9008 /1107039,943 ,3/

/;0781.,943

!03097,943$97,90080893574/:.9808932,7098

!03097,943 $97,9008 20,38 9,9 .425,308 80 907 0893 574/:.98 43 ,70,/ 0893 2,7098

425,308.448398897,90 ,;0 94,3.425099;0,/;,39,0974:57.32,709309.%0

,3994,32,7098,70,3/.43;3.090.:894207841907.42509947894-:,9907894708

//,8 8 /01390 :83 503097,943 897,9008 47 4;07 0,78 ,//,8 8 803 854798 ,55,70 ,3/

,..0884708%74:, 8:..0881:089,-80/-7,3/2,0,//,8 89 808 907 854798 ,55,70 ,4;07 90

47/%072,70930114798,8/08.7-0/3905,7957424943897,90080590294702,3.425099;0

!74/:.905,3843897,9008!74/:.90;045203930574/:.9808932,7098

4:.,3850,41574/:.905,384347574/:.9/0;0452039897,90081 ,.425,3/0;045830574/:.98

,3/9794809029408932,7098


71/149

//,82,/0,84:8041574/:.905,3843897,9008974:3974/:.3,//,85071472,3.0473,8,3/

890 3.94-07%0.425,305,3/0/907574/:.98974:,30890309,9 14.:808247043

1,8439,343854798.49084:.,3850,41574/:.905,3843-0.,:80,94:908908/110703998

89390,55,7080.947

:7907 ,//,8 24/108 907 574/:.98 .4393:4:8 3 0-7:,7 90 :89 3974/:.0/ 907 30

/0;0450/420384/,553%0.3449,9/01308(102,0850.1.0,9,3/80,94308347/07

945,.01,-7.8/70.907090,70300/0/902489/0;073459280/1:3.94394574;/02,2:2

.421479/:73474:9//,8!7088#442

%0 30 90.344 -0 :80/ 3 ,//,8 30 .40.943 9,9 -0 3974/:.0/ 3

$573$:2207 3490705,3/3 41 907574/:.98 8 0,79 7,9080383,55,7084 9,9 .438:2078

/439 300/ , 5,.07 0 7:333 %74: /0;0453 30 90.34408 94 2574;0 907 854798 ,55,70

.438:20781009,9,//,88,,8:594/,90930854798334;,9438

39070-890,//,8,84.70,90/,34380.943.,0/2:8942078,;0905488-994507843,0

574/:.98470,2504:.,3507843,0840808/08.447,3//083985488-0147.:894207894

47/0790 019,3/798403/1107039808,3//9:8942078,;0 905488-994/03919 90,//,8574/:.98974:.70,9390743507843,,//,8.4908

,70905,3843897,9008,7090;04520390893574/:.98302,7098

3 98 897,90 .425,308 97 94 80 907 574/:.98 94 30 2,7098 44507,943 41 ,//,8 9 $90,

.,7930,3/!478.0083$54798 .,3-0 8003,8 ,2,709 05,3843 %0 70,843 1470;,:,93 9,8

2,709 05,3843 89,990 30 9,7092,709 419080574/:.988 1,843%09,709.438:2078 9,9 ,70

39070890/31,8434/4349,;094-039070890/39085479880.947,843,3/108908390

14.:8419080,55,70308

'079.,3907,943897,900808932,709/110703989,041574/:.943

;079., 3907,943 897,90 /08.7-08 %0 /0700 94. , 172 438 98 :58970,2 8:55078 ,3/ 98

/438970,2-:078,.0#010703.0330'079.,3907,943$97,903,;,:0.,30,;090

2,3:1,.9:707408,07,3/709,071,709,07,84438,1,.947,3/2,3:1,.9:70898574/:.9894:/

-0 , -,.,7/ 3907,943 %0 5:75480 41 ;079., 3907,943 8 94 3.70,80 90 .43974 41 90 89,08 41

/0;0452039

3900,7-03338,//,8574/:.0/,9078408,3/,55,704390743%74:90:005,3843

390,89/0.,/08,//,8/439574/:.0,907,55,704390743%4/,9043431,.94708070

90574/:.0842041907574/:.98:790790,;0 ,74:3/2,38:550781742, 4;079047/

!74/:.94383:74508,,3/207.,'//,8

1107039,943:36:03088

%0/1107039,9438,897,909902,314.:841/0;0453,574/:.9807;.0472,09,98:36:0

,3/9,997-:9089,9,70,5570.,90/,3/;,:0/-.:8942078:8942078;,:090207,8

574/:.9847807;.0841.425099478%74:.70,93,:36:02,0.425,3089,92,08:..0881::8041


72/149

98 897,90 .,3 41903 80 907 574/:.98 147 , 07 57.0 $49 80,807 147 .425,30894 5708039 907

574/:.98 ,8:36:0 -0.,:80 90 092470243094.4;07 907 .4898,.94789,9/08.7-0 .425,308 9,9

2,0:8041/1107039,943,70

W..088940,/38.0391.7080,7.

W80/,3/.70,9;0574/:.9/0;045203990,2

W$97438,0890,2990,-9948:..0881:.422:3.,9090507.0;0/89703984190574/:.9

W47547,90705:9,9431476:,9,3/334;,943

":.!4790780307.$97,9008

789,9.425,308,;0941,.003:8398897,9089,9.425099478979429,9090.425,3

47.,30.438:207823/9,890

%0-7,3/,//,8,82039430/-0147008984;070,78%0,/,4392094.70,90907:36:0-7,3/

2,0//,889,3/81476:,9,3/050798030;07939,9870,90/94854798%74:8:554793,3/85438473 /11070393/41 854798 0;0398 8:. ,890 &,25430,:0 3,//,8.438:2078

;041,//,88,,8.4330.90/9854798:79073907,//,85071472,3.0.40.943902,0:80

41334;,9438:.,8902039430/4/,553%0.344$4390.438:20789,990,70:83

30 90.34408 ,3/ .4389,39 2574;3 907 574/:.98 /1107039,908 ,//,8 1742 907 .425099478

:8942078 100 9,9 ,//,8 :808 , 907 5488-908 94 41107 574/:.98 9,9 05 902 /43 , 44/

5071472,3.03907854798

;0781.,94330574/:.98302,7098

;0781.,9438,84,749897,90%05:7548041/;0781.,943894,490.425,39403907308

41-:830889,9,70/11070391742.:770394507,9438%42,840;0781.,943$97,90%820,389,9

.425,30897948030574/:.9894302,7098%8897,90878-0.,:8090.425,3824;33:33432,709807090/4349,;0050703.0%:947:384118574/:.92,7092,97

:79070.,3/893:8-09003.43.0397.47439,,3/.434207,90/;0781.,943

%017891472.43.0397./;0781.,943803,.425,3,//870,90/574/:.98472,709847439,

/;0781.,943803,.425,3808574/:.989,9,70:370,90/949070893-:94:/,550,94907

.:8942078%0 97/ 45943 8 .434207,90 /;0781.,943 9 4..:7803, .425,3408 394 , 949,

/11070392,709930574/:.98%07083470,943-0900390,70,/0893574/:.98%84:/-0

1470,2501,8:5072,709,8480897,;08

8:..0881:.425,38:.,8,//,8,84,398 9403,70 9072,7098,3/8 80,7.314730,894

05,3/907-:83088#0.039 3,3:,7,//,83974/:.0/ 9024,. 3907,.9;097,33 88902

:/0%05747,224,. 8,;,,-0 4;07 90,//,80-890:8942078.,3.4480-09003/1107039

97,335,388:.,8/0897088470,734947:39.,3-0/08.7-0/,847439,/;0781.,943-0.,:80

9034 41107, 807;.0 507843, 97,33%02.4,.5,.078 9,9 9080.,3 -08003,8 .43.0397.

/;0781.,943-0.,:805,.0789,920,8:704:70,797,90,7070,90/94854798,3/854798,55,70


73/149

34907147241.43.0397./;0781.,943.,3-080033907/04/47,39,3/840709,990,70803

,9/7:894708,3/8:5072,70989 870,90/ 949072,32,709-0.,:80504504/4854798300/,44/

/04/47,39,3/,;0949,0,8407,1907,7/8

1907,3,3,//,8749897,90084:.,38,9,9,//,8348,990,70 /43%014.:843/1107039 749897,9008 94,32,7098,70,3/ 3.70,808,084894190 920 9014.:843574/:.9

0903843 942574;0 907574/:.9 ,884792039 939,9-0.,:80 41,0089,-80/-7,3/ 3,20,//,8

84:/972470942,0:8041/;0781.,943%0.,3,84804907574/:.9847807;.08-0.,:8050450

97:8998-7,3/494150450,,74:3/9047/,701,8.3,90/-854798090.425,3:2-,:.0

90.4:/1470,250800,9/738,3/:.0948:55479,0,985479470390/10890

4-,897,90

.425,39,9,8,4-,897,90;089047/,84302,709,3/97089489,3/,7/09072,7093

,.9;9080;0790088574/:.9,/,59,9438,702,/007090,7030.088,782039430/-01470,//,88

,4-,.425,3%07574/:.98,70,;,,-0330,70;07.4:397430,79,3/9079,7092,7098,70

854798470390/.:8942078,4;079047/%080907574/:.988:..0881::3/07903,20,//,8 3

0;07 .4:397 .425,7843 41 90 /1107039 .4:397 0-8908 848 907 89,3/,7/,943 147 /1107039

.4:3970814:03907,//,8.4247,//,8/047,//,817943.,3090,3:,0

,3/8420,.9:,945.8-:99040/083,3/411078908,20/,59,9438,70432,/007090,70

30.088,7390&$4205,01470,2504:.,313/,.74880:3/07,//,8!071472,3.0070,84390

072,34205,09.,3349-014:3/-0.,:8090,2083495,0/3072,3//,83489072,7098

,3/9,08.,7041.:9:7,47.4:397850.1./110703.08%0.425,3,848,8,990349,990,;0

94,/,5994.079,3.:9:7,/110703.08:79079070.438090.438:207-:3-0,;4:7,3/90:36:0

709,,3/8.,50034507,933/11070392,7098

3 90 .425,3 7047,380/ 907 -7,3/ 897:.9:70 %0 24;0/ 1742 , ;079., 3907,90/ -7,3/

897:.9:7094,1:3.943,2:9-7,3/897:.9:704,//,8,8,4-,$,08,3/4-,7,3/81:3.943%0

4-,$,08:3.94387085438-014790.42207.,,.9;908070,8904-,7,3/81:3.9439,08

.,7041902,7093,.9;9084190-7,3/8,//,8854795071472,3.0,//,885479890,3/,84#00-447

907709,894708908094-,:/0308849,990.,33.70,80011.03.,3/94.70,90.43889039

.43/943894038:7043907257419,-9

%080 94 30.70,90/ 1:3.9438 84 9,9 ,//,8 814.:80/ 43 , 4-, 897,90%4090799030

897:.9:70419047,38,94390,//,874:5,84/0./0/433020,8:70878990,3994089,-8439

4507,93 24/08 147 ,//,8 3 2489 41 907 4-, 2,7098 $0.43/ 90 ,39 94 023,90 7043,

0,/6:,79078849,990,;0,2470/70.93907,.943-09003904-,1:3.9438,3/90147032,7098

3/97/90/0./0/9,990805,7,90/907085438-9147904-,7,3/8,3/4-,8,08490

4190,//,874:507-079,30787085438-01474-,$,08,3/7.$9,22307,202-0741

9000.:9;0-4,7/9,08.,70414-,7,3/8

,34-0.9;041908030/;8438894 038:709,9,.,3.08439074507,932,7098,3/.,904708

,709,03974:,/0;0452039410897:.9:70/,3/.447/3,90/494,709897,9008%0,;094


74/149

/0;045 334;,9;0 574/:.98 ,3/ .422:3.,943 897,9008 9,9 .,3 5078:,/0 .438:2078 3 90 /1107039

2,7098

3,4:.,38,9,9//,88,4-,5,07%0,70803907574/:.98,74:3/9047/98

0,807147 902 94/0;045, 4-,897,90-0.,:80 90 8009047/,8430:08547982,709%0

9,70990.:89420789,9094/4854798,3/090854798890147.4930;0790088903490

/1107039 95041854798.438:2078570107 3/1107039.4:39708%043,850.9 9,9.4:/-02574;0/-

,//,889414.:8247043.4:397850.1.854798390&$1470,2501449-,870,545:,7%0.4:/

.70,90,850.,1449-,30948,98190300/84190.:8942078

$4:7.08

//,874:5,90/4995,//,874:5.42034:774:54:7*-:83088/01,:9,85,..0880/43

57

//,8!7088#44299557088,//,8.42/08945/01,:9,859,-/*70,/,..0880/43

57

//,8%0,//,8 8947 0,7- 0,7 99557088,//,8.4208945/01,:9,859,-/*70,/

,..0880/4357

38411,97,989038411,97995,384112,97.42,..0880/4357

,.0 #010703.0 330 '079., 3907,943 $97,90

995-,.07010703.0.425:-.94.34/0/*.:3**88

,..0880/4357

,9047,!#,3/7,,239073,943,,709390/943047

'//,89950;-.592,..0880/4357

995,0-07.42749$97,900892

":. !479078 0307. $97,9008 9956:.2-,.42897,900307.892 ,..0880/ 43

57


75/149

%42,8 40 ;0781.,943 $97,90 995034908.422,3,0203903..450/,/;0781.,943

897,90,..0880/4357

%:947:384118 574/:.92,7092,979959:947:309-:83088897,90,38411*2,9792,..0880/43

57

,//,8.42

,//,8/0


76/149

$$4:908973083:9:70',:08,3/507,93

!7,.9.08

$$%"&$%$89070,3939,94:13/5,79.:,7257088;0,-4:9$4:9089

7308

,97,/04:/4:;0$4:90892,3,02039147904-9,8/430

3.7,19390.425,38897,90

,9899,94:047/80,-4:990897,90408$4:9089,;0,

333897,90

,9,7090054.08574.0/:7084507,9357,.9.08,3/.470;,:08

:3/073$4:908980114798

942502039,3/00.:90984.48934178897,90

,9,70900002039841$4:90898.:9:708$4:9089,89743

.:9:70.425,347

349,9574-028/44:14708009,9,70,838:89,3390.:9:70349,907-000790

.425,388579:,0,/07,8/05,790/

,97,/04:/4:;0$4:90892,3,02039147904-9,8/430

325020393,3/00.:93

90.425,38897,90.41$4:90898897,9000.:943,5574,.08

,3/4507,9357,.9.08/4

4:-00;0,;0-0032489.7:.,3,..4:393147908:..0889,9

$4:9089,80340/300.:9398

897,907090,354.08574.0/:708,3/4507,93,5574,.08,9

$4:90899,94:/8,5574;04147

9,9,703494730

,90,30880847574-028/44:800,9$4:90897308

,970.42203/,94384:/4:2,094,70


77/149

Iff9fnn

f$$ffn$f$

f

Ifff9fnn%@nff

f%ffnf%,nf-f

@f

@nff@DfffffD

fffnnfff

fnffn

fnffffn#nf

n@f

@f,f

9fffnf#

%9fnfnnff%9fnffnnn

%9ff

%9fff

fff

nfffnf$nn

@f,f

fnnffn@f

ffnnnnnf#ff

fnnf#f

@f,f

%f

ffffnfnffnff

nffnfnffnnfff

ffnfnnfnn

nf#n

ffnnfnnnnf#

ff%-ffnnf#

ffff

nfffffnn

fff"fff

@f,f

@#fnfff

nnff%Dfnfff

ffnffnffnffD

f

%f


78/149

ffffnf#fff#f"

Jffnff#ffff

f"

@f,f

n

%@f

%n

%nf

%f

f

@f

n

nnfnfffffffn

ffnnffnnnfff

nffnfnfffnn

fnfffffnnffffffn

fnnffnnffn

fffffnfnnnf

fnfffffffnffnn

ff@nnfDfff

-nnfffff

fnfffffnfff

fnf-ffnffnnnf

fnnf

,nnnnffnffnf

fn@fffnnf

ffDffnfnf

fnfff

@nnnnff9fnnDfn

nnfn,fff

nffffnJffff

fffnnfffnf

ffffnnfff

nfffnf,fffffffI@n

nffnffffff

fnnffnffff,n

nnfffffnfnnn

nnfnnnffn

fnnfnffff

nffffffff

nnffff


79/149

,fnffnfnf,f

fffD@fnfnffn

nfffnn

fff;ffffnnnffnnf

ffnffnfnff

nf%fnfffffff

f

nnffffnf

fffnfDffnff

Dffnfnfff

fffffffn

nfnfffnffnf

ffnffnfnf%,ff

ffffff

nffffffnJff

fffnffnffff

ffnfnffn

nffnffnnnffnf

ff @nffnff

fnffffffnn

fnnfffffff

ffnnffnf

nffnffnffnf

fnnnfffffnnn

fnnffff

fffnnnffnnfnf

f#fnfnnff

fnn

fnnnfff

fnfnnnfnf@n

nnnJffnfffnn

fnnfnffnn@

nffnnfnnf

fn@nfffff

ffnfnfnfffnn

nnfnff

fffnnfnnnffn@

fnnff


80/149

@ffnffffnn

ffnnnnnf

fnfffnfff

fnnffffn

fffnffffnf

f

@nffffnn

fnffnnfnn

f

J@f

9fnfnnff9fnff

nnn

fDIfD-nf

ffff

nDf

,ffnDnf@nf

nn@n

fn

nn

9ff9fff

n

f-fffnfnf

nnffnfnnfnf%

fnffnf@fffffnffn%@f

@

fffffnn

nffnn

nffnf

nn

9fnfnnff

ff

9fffn

fff

nfnn-nnffDI%

ff

ffnnfnnfff

ffnfnnnn%


81/149

nfffffnf

fnfffnfnnn

%

ff@-fff

ffn@nn

nffffff%$$n

f

-ffn

fnnffffnfff

ffffnfnffffn

fffff,

nfnf

9ff

nfnfnfnnff

ffffnnffffnf

nDf

;n@f

fffffff@f

fnfnfnf

nff

nnffnfff

ffnfffffffff9ff

f

Df

@nffnfnfnnffnff

fn@ffnf,fn

fnnffffnnf

ffnfn

fffffnffffff

fnfffffnff,ff

fffffffnnfn@ffn

nfn

,ffn

@fnn

ffffffffffnfnf

ffffnnnnnf@

fnfnffnfnffnf@#nfff

fffffffnff

fffnfn

ffffff

,fffffnf

nfffffffff


82/149

@fffnfnf

fff@fff

ffffnn

fnnnfnnnf

nf@

@nfff

ffffnfnfn

nffn@nfffnf

fnnffffff

@ffnfn

nffnnnffnfffnf

f@fnfffffnffff

nfffffffnf

ffffnf

ffnffJffffnfnfffnfffnnfff

nn

nfnfffnf

fnffffnf

nnf

fnfnnffff

ffnfnf@f

fnffff9nfnfnnf

fnfffnnf

-9fff@fffffffnf%

nnfffnfnf

f

fnffnf

nffffnnffn

-nn@

nfffnffffJff

ff"@nnfnnffffn

fff,fffnnfnf

fn@9fnf

ffnf--nnn

nnffn

@n

@ffnfn

ffnffnf

nfffnfnnfff

nfffffff%@-@

@ffffnf

ffff


83/149

fn

ffnffff

f@nnffff

fffffn

ffnfnffnffn

ffnfnfnfffffff

nfffffffffnf

fffffff@nf

ffnfff

n

@fffnffnff

nf

fnnfDnf

fD-f

ff%,f

9fnffnnn

nn

@ffnffff-fn

fnn

-f

fnffnnnfffff

-nnf-

-nffnnnf

n

nffffffnff

ff@f

9;f9n

nfffffnffnn

fffnnfffnf

fff

f

@ffffffnf

nnfnfnf

fn

@fnfffffff

n%ffffff

ffnff


84/149

9ff

ffnnfff

f,fnnfn

n

fffffnffnfffnf

@f@fnfn

nfnfffffnnfn@

nffffffnfff

nnffnfff

fffnf

nnfnfnnnnfffn

nnf

nnfffnnfn

fnnfffff

fffffff@fffnffnf

fnfnffff

fnfff,f

nffnfnn

fffnfffff

fffff

ffnf

@fnfffn

fnffnfnfnnnfnff

nfnfffnfnff

nff@ffnnfnnf

ffnfnfffffn

ffn

f

-ffnnnnffnf

ff@fnnfffffffn

fnnffffff#fnf

n

fn

fffnfnffff

@fffnnfffn

fnfnfnff

nfff@nff#

n


85/149

fn

nnffnffff

f@ffnnf@f

fffffnnfnf

fffnnfff@f

nfnfnfn

fn

9fn

@ffffnff#fnf

ffnnnnfnff

fffn

9fff

-n

nfffffnffnn

f@ff#nnnnfnnnnfnfff

f

fn9nn

nfnnffnfnfn

nn

ffff

ffnfnffffffff

ffnffffffnnf

ffnffnfnnffnfff

ffnfffffff

fnffDfDff

ffnf@fnf

f,ffn

@fffffffn

fnfnnf@ff

nfnfDff

fnnnnff%Jf

9ff

fff

@fffnfnfnffff

ffDI"

Jf

Dnffn


86/149

Jfnffnffffff"

ffnfnnf

fnn"

@f

fnnffn@f

ffnnnnnf#ff

fff

f,

f,

$,

,f

fnnf#f

@,

@f

ffffnfnffnff

nffnfnffnnfff

fffnfnnfnn

nf#n

ffnnfnnnnf#

ff%-ffn

nf#ffff

nnfffffn

nfff"fff

fnfnnfnnnf#n

n

,nfnffnnfnff

nfnnn@nff#f

nffffnfnn

fnn#ff

nf%@fffn

ffnff#f9

ffffn@f

ffnfnnnnfnfnnf

nf@fnnnfn

n@fnfnfff

ffnfff

nf%,

@f

fffnnfffff

%fnn%ff

fnfff#ff


87/149

nfn@f#ffffnfnf

nfnfff#

ffnffnf

ff

%@f

D9

@nnnnfff

n@fnnnfnfnfff

nffnnnffn

ffnnnfn

#ffnf@ff

ffffnfnfnf

fnnf%@f

ffn

fnff,

f%@fffnffffnfff@fn

nfffnnnfnfn

@f

fnfffffff

fffnnfffff

sm case study-shang ri la

Documents