id	sid	tid	token	lemma	pos
fbem-21419	1	1	frontiers	frontier	NOUN
fbem-21419	1	2	in	in	ADP
fbem-21419	1	3	business	business	NOUN
fbem-21419	1	4	,	,	PUNCT
fbem-21419	1	5	economics	economic	NOUN
fbem-21419	1	6	and	and	CCONJ
fbem-21419	1	7	management	management	NOUN
fbem-21419	1	8	issn	issn	PROPN
fbem-21419	1	9	:	:	PUNCT
fbem-21419	1	10	2766	2766	NUM
fbem-21419	1	11	-	-	PUNCT
fbem-21419	1	12	824x	824x	NUM
fbem-21419	1	13	|	|	ADJ
fbem-21419	1	14	vol	vol	NOUN
fbem-21419	1	15	.	.	PROPN
fbem-21419	1	16	15	15	NUM
fbem-21419	1	17	,	,	PUNCT
fbem-21419	1	18	no	no	INTJ
fbem-21419	1	19	.	.	NOUN
fbem-21419	1	20	1	1	NUM
fbem-21419	1	21	,	,	PUNCT
fbem-21419	1	22	2024	2024	NUM
fbem-21419	1	23	140	140	NUM
fbem-21419	1	24	research	research	NOUN
fbem-21419	1	25	on	on	ADP
fbem-21419	1	26	financial	financial	ADJ
fbem-21419	1	27	performance	performance	NOUN
fbem-21419	1	28	evaluation	evaluation	NOUN
fbem-21419	1	29	of	of	ADP
fbem-21419	1	30	kweichow	kweichow	PROPN
fbem-21419	1	31	moutai	moutai	PROPN
fbem-21419	1	32	based	base	VERB
fbem-21419	1	33	on	on	ADP
fbem-21419	1	34	eva	eva	PROPN
fbem-21419	1	35	mengdan	mengdan	PROPN
fbem-21419	1	36	xiao	xiao	PROPN
fbem-21419	1	37	,	,	PUNCT
fbem-21419	1	38	lunzhi	lunzhi	PROPN
fbem-21419	1	39	gan	gan	PROPN
fbem-21419	1	40	college	college	PROPN
fbem-21419	1	41	of	of	ADP
fbem-21419	1	42	management	management	NOUN
fbem-21419	1	43	,	,	PUNCT
fbem-21419	1	44	sichuan	sichuan	PROPN
fbem-21419	1	45	university	university	PROPN
fbem-21419	1	46	of	of	ADP
fbem-21419	1	47	science	science	PROPN
fbem-21419	1	48	&	&	CCONJ
fbem-21419	1	49	engineering	engineering	PROPN
fbem-21419	1	50	,	,	PUNCT
fbem-21419	1	51	sichuan	sichuan	PROPN
fbem-21419	1	52	,	,	PUNCT
fbem-21419	1	53	china	china	PROPN
fbem-21419	1	54	abstract	abstract	PROPN
fbem-21419	1	55	:	:	PUNCT
fbem-21419	1	56	kweichow	kweichow	PROPN
fbem-21419	1	57	moutai	moutai	PROPN
fbem-21419	1	58	is	be	AUX
fbem-21419	1	59	a	a	DET
fbem-21419	1	60	leading	lead	VERB
fbem-21419	1	61	enterprise	enterprise	NOUN
fbem-21419	1	62	in	in	ADP
fbem-21419	1	63	the	the	DET
fbem-21419	1	64	liquor	liquor	NOUN
fbem-21419	1	65	industry	industry	NOUN
fbem-21419	1	66	.	.	PUNCT
fbem-21419	2	1	introducing	introduce	VERB
fbem-21419	2	2	eva	eva	NOUN
fbem-21419	2	3	into	into	ADP
fbem-21419	2	4	kweichow	kweichow	PROPN
fbem-21419	2	5	moutai	moutai	PROPN
fbem-21419	2	6	has	have	VERB
fbem-21419	2	7	reference	reference	NOUN
fbem-21419	2	8	significance	significance	NOUN
fbem-21419	2	9	for	for	ADP
fbem-21419	2	10	the	the	DET
fbem-21419	2	11	company	company	NOUN
fbem-21419	2	12	and	and	CCONJ
fbem-21419	2	13	other	other	ADJ
fbem-21419	2	14	companies	company	NOUN
fbem-21419	2	15	in	in	ADP
fbem-21419	2	16	the	the	DET
fbem-21419	2	17	liquor	liquor	NOUN
fbem-21419	2	18	industry	industry	NOUN
fbem-21419	2	19	.	.	PUNCT
fbem-21419	3	1	in	in	ADP
fbem-21419	3	2	this	this	DET
fbem-21419	3	3	paper	paper	NOUN
fbem-21419	3	4	,	,	PUNCT
fbem-21419	3	5	kweichow	kweichow	ADP
fbem-21419	3	6	moutai	moutai	PROPN
fbem-21419	3	7	is	be	AUX
fbem-21419	3	8	selected	select	VERB
fbem-21419	3	9	as	as	ADP
fbem-21419	3	10	the	the	DET
fbem-21419	3	11	case	case	NOUN
fbem-21419	3	12	company	company	NOUN
fbem-21419	3	13	.	.	PUNCT
fbem-21419	4	1	first	first	ADV
fbem-21419	4	2	,	,	PUNCT
fbem-21419	4	3	based	base	VERB
fbem-21419	4	4	on	on	ADP
fbem-21419	4	5	the	the	DET
fbem-21419	4	6	brief	brief	ADJ
fbem-21419	4	7	introduction	introduction	NOUN
fbem-21419	4	8	of	of	ADP
fbem-21419	4	9	kweichow	kweichow	PROPN
fbem-21419	4	10	moutai	moutai	PROPN
fbem-21419	4	11	,	,	PUNCT
fbem-21419	4	12	the	the	DET
fbem-21419	4	13	data	datum	NOUN
fbem-21419	4	14	from	from	ADP
fbem-21419	4	15	2019	2019	NUM
fbem-21419	4	16	to	to	ADP
fbem-21419	4	17	2023	2023	NUM
fbem-21419	4	18	are	be	AUX
fbem-21419	4	19	selected	select	VERB
fbem-21419	4	20	for	for	ADP
fbem-21419	4	21	analysis	analysis	NOUN
fbem-21419	4	22	according	accord	VERB
fbem-21419	4	23	to	to	ADP
fbem-21419	4	24	the	the	DET
fbem-21419	4	25	traditional	traditional	ADJ
fbem-21419	4	26	analysis	analysis	NOUN
fbem-21419	4	27	method	method	NOUN
fbem-21419	4	28	of	of	ADP
fbem-21419	4	29	financial	financial	ADJ
fbem-21419	4	30	indicators	indicator	NOUN
fbem-21419	4	31	.	.	PUNCT
fbem-21419	5	1	secondly	secondly	ADV
fbem-21419	5	2	,	,	PUNCT
fbem-21419	5	3	according	accord	VERB
fbem-21419	5	4	to	to	ADP
fbem-21419	5	5	the	the	DET
fbem-21419	5	6	enterprise	enterprise	NOUN
fbem-21419	5	7	characteristics	characteristic	NOUN
fbem-21419	5	8	of	of	ADP
fbem-21419	5	9	kweichow	kweichow	PROPN
fbem-21419	5	10	moutai	moutai	PROPN
fbem-21419	5	11	,	,	PUNCT
fbem-21419	5	12	an	an	DET
fbem-21419	5	13	eva	eva	NOUN
fbem-21419	5	14	-	-	PUNCT
fbem-21419	5	15	based	base	VERB
fbem-21419	5	16	financial	financial	ADJ
fbem-21419	5	17	performance	performance	NOUN
fbem-21419	5	18	evaluation	evaluation	NOUN
fbem-21419	5	19	system	system	NOUN
fbem-21419	5	20	is	be	AUX
fbem-21419	5	21	established	establish	VERB
fbem-21419	5	22	through	through	ADP
fbem-21419	5	23	necessary	necessary	ADJ
fbem-21419	5	24	accounting	accounting	NOUN
fbem-21419	5	25	adjustments	adjustment	NOUN
fbem-21419	5	26	,	,	PUNCT
fbem-21419	5	27	and	and	CCONJ
fbem-21419	5	28	then	then	ADV
fbem-21419	5	29	the	the	DET
fbem-21419	5	30	eva	eva	NOUN
fbem-21419	5	31	value	value	NOUN
fbem-21419	5	32	of	of	ADP
fbem-21419	5	33	kweichow	kweichow	PROPN
fbem-21419	5	34	moutai	moutai	PROPN
fbem-21419	5	35	is	be	AUX
fbem-21419	5	36	compared	compare	VERB
fbem-21419	5	37	with	with	ADP
fbem-21419	5	38	the	the	DET
fbem-21419	5	39	traditional	traditional	ADJ
fbem-21419	5	40	financial	financial	ADJ
fbem-21419	5	41	performance	performance	NOUN
fbem-21419	5	42	evaluation	evaluation	NOUN
fbem-21419	5	43	indicators	indicator	NOUN
fbem-21419	5	44	to	to	PART
fbem-21419	5	45	obtain	obtain	VERB
fbem-21419	5	46	comprehensive	comprehensive	ADJ
fbem-21419	5	47	evaluation	evaluation	NOUN
fbem-21419	5	48	results	result	NOUN
fbem-21419	5	49	.	.	PUNCT
fbem-21419	6	1	finally	finally	ADV
fbem-21419	6	2	,	,	PUNCT
fbem-21419	6	3	according	accord	VERB
fbem-21419	6	4	to	to	ADP
fbem-21419	6	5	the	the	DET
fbem-21419	6	6	evaluation	evaluation	NOUN
fbem-21419	6	7	results	result	NOUN
fbem-21419	6	8	,	,	PUNCT
fbem-21419	6	9	the	the	DET
fbem-21419	6	10	paper	paper	NOUN
fbem-21419	6	11	puts	put	VERB
fbem-21419	6	12	forward	forward	ADV
fbem-21419	6	13	some	some	DET
fbem-21419	6	14	development	development	NOUN
fbem-21419	6	15	suggestions	suggestion	NOUN
fbem-21419	6	16	such	such	ADJ
fbem-21419	6	17	as	as	ADP
fbem-21419	6	18	optimizing	optimize	VERB
fbem-21419	6	19	the	the	DET
fbem-21419	6	20	capital	capital	NOUN
fbem-21419	6	21	structure	structure	NOUN
fbem-21419	6	22	of	of	ADP
fbem-21419	6	23	the	the	DET
fbem-21419	6	24	enterprise	enterprise	NOUN
fbem-21419	6	25	,	,	PUNCT
fbem-21419	6	26	improving	improve	VERB
fbem-21419	6	27	the	the	DET
fbem-21419	6	28	financial	financial	ADJ
fbem-21419	6	29	risk	risk	NOUN
fbem-21419	6	30	prevention	prevention	NOUN
fbem-21419	6	31	system	system	NOUN
fbem-21419	6	32	,	,	PUNCT
fbem-21419	6	33	and	and	CCONJ
fbem-21419	6	34	incorporating	incorporate	VERB
fbem-21419	6	35	eva	eva	NOUN
fbem-21419	6	36	into	into	ADP
fbem-21419	6	37	the	the	DET
fbem-21419	6	38	enterprise	enterprise	NOUN
fbem-21419	6	39	performance	performance	NOUN
fbem-21419	6	40	evaluation	evaluation	NOUN
fbem-21419	6	41	system	system	NOUN
fbem-21419	6	42	.	.	PUNCT
fbem-21419	7	1	keywords	keyword	NOUN
fbem-21419	7	2	:	:	PUNCT
fbem-21419	7	3	kweichow	kweichow	PROPN
fbem-21419	7	4	moutai	moutai	NOUN
fbem-21419	7	5	,	,	PUNCT
fbem-21419	7	6	financial	financial	ADJ
fbem-21419	7	7	performance	performance	NOUN
fbem-21419	7	8	evaluation	evaluation	NOUN
fbem-21419	7	9	,	,	PUNCT
fbem-21419	7	10	eva	eva	PROPN
fbem-21419	7	11	.	.	PROPN
fbem-21419	7	12	1	1	NUM
fbem-21419	7	13	.	.	X
fbem-21419	8	1	introduction	introduction	NOUN
fbem-21419	8	2	nowadays	nowadays	ADV
fbem-21419	8	3	,	,	PUNCT
fbem-21419	8	4	the	the	DET
fbem-21419	8	5	social	social	ADJ
fbem-21419	8	6	economy	economy	NOUN
fbem-21419	8	7	is	be	AUX
fbem-21419	8	8	undergoing	undergo	VERB
fbem-21419	8	9	rapid	rapid	ADJ
fbem-21419	8	10	progress	progress	NOUN
fbem-21419	8	11	,	,	PUNCT
fbem-21419	8	12	and	and	CCONJ
fbem-21419	8	13	the	the	DET
fbem-21419	8	14	operation	operation	NOUN
fbem-21419	8	15	purpose	purpose	NOUN
fbem-21419	8	16	of	of	ADP
fbem-21419	8	17	enterprises	enterprise	NOUN
fbem-21419	8	18	has	have	AUX
fbem-21419	8	19	also	also	ADV
fbem-21419	8	20	undergone	undergo	VERB
fbem-21419	8	21	profound	profound	ADJ
fbem-21419	8	22	changes	change	NOUN
fbem-21419	8	23	.	.	PUNCT
fbem-21419	9	1	the	the	DET
fbem-21419	9	2	management	management	NOUN
fbem-21419	9	3	and	and	CCONJ
fbem-21419	9	4	shareholders	shareholder	NOUN
fbem-21419	9	5	of	of	ADP
fbem-21419	9	6	enterprises	enterprise	NOUN
fbem-21419	9	7	have	have	AUX
fbem-21419	9	8	only	only	ADV
fbem-21419	9	9	focused	focus	VERB
fbem-21419	9	10	on	on	ADP
fbem-21419	9	11	short	short	ADJ
fbem-21419	9	12	-	-	PUNCT
fbem-21419	9	13	term	term	NOUN
fbem-21419	9	14	profit	profit	NOUN
fbem-21419	9	15	returns	return	NOUN
fbem-21419	9	16	in	in	ADP
fbem-21419	9	17	the	the	DET
fbem-21419	9	18	past	past	NOUN
fbem-21419	9	19	,	,	PUNCT
fbem-21419	9	20	and	and	CCONJ
fbem-21419	9	21	have	have	AUX
fbem-21419	9	22	evolved	evolve	VERB
fbem-21419	9	23	to	to	PART
fbem-21419	9	24	pay	pay	VERB
fbem-21419	9	25	more	more	ADJ
fbem-21419	9	26	attention	attention	NOUN
fbem-21419	9	27	to	to	ADP
fbem-21419	9	28	the	the	DET
fbem-21419	9	29	long	long	ADJ
fbem-21419	9	30	-	-	PUNCT
fbem-21419	9	31	term	term	NOUN
fbem-21419	9	32	value	value	NOUN
fbem-21419	9	33	creation	creation	NOUN
fbem-21419	9	34	of	of	ADP
fbem-21419	9	35	enterprises	enterprise	NOUN
fbem-21419	9	36	,	,	PUNCT
fbem-21419	9	37	and	and	CCONJ
fbem-21419	9	38	examine	examine	VERB
fbem-21419	9	39	and	and	CCONJ
fbem-21419	9	40	evaluate	evaluate	VERB
fbem-21419	9	41	the	the	DET
fbem-21419	9	42	various	various	ADJ
fbem-21419	9	43	business	business	NOUN
fbem-21419	9	44	activities	activity	NOUN
fbem-21419	9	45	carried	carry	VERB
fbem-21419	9	46	out	out	ADP
fbem-21419	9	47	by	by	ADP
fbem-21419	9	48	the	the	DET
fbem-21419	9	49	company	company	NOUN
fbem-21419	9	50	from	from	ADP
fbem-21419	9	51	a	a	DET
fbem-21419	9	52	strategic	strategic	ADJ
fbem-21419	9	53	perspective	perspective	NOUN
fbem-21419	9	54	.	.	PUNCT
fbem-21419	10	1	since	since	SCONJ
fbem-21419	10	2	its	its	PRON
fbem-21419	10	3	listing	listing	NOUN
fbem-21419	10	4	,	,	PUNCT
fbem-21419	10	5	kweichow	kweichow	PROPN
fbem-21419	10	6	moutai	moutai	PROPN
fbem-21419	10	7	,	,	PUNCT
fbem-21419	10	8	with	with	ADP
fbem-21419	10	9	its	its	PRON
fbem-21419	10	10	excellent	excellent	ADJ
fbem-21419	10	11	brand	brand	NOUN
fbem-21419	10	12	influence	influence	NOUN
fbem-21419	10	13	,	,	PUNCT
fbem-21419	10	14	stable	stable	ADJ
fbem-21419	10	15	performance	performance	NOUN
fbem-21419	10	16	growth	growth	NOUN
fbem-21419	10	17	and	and	CCONJ
fbem-21419	10	18	unique	unique	ADJ
fbem-21419	10	19	market	market	NOUN
fbem-21419	10	20	position	position	NOUN
fbem-21419	10	21	,	,	PUNCT
fbem-21419	10	22	has	have	AUX
fbem-21419	10	23	experienced	experience	VERB
fbem-21419	10	24	many	many	ADJ
fbem-21419	10	25	adjustments	adjustment	NOUN
fbem-21419	10	26	and	and	CCONJ
fbem-21419	10	27	rises	rise	NOUN
fbem-21419	10	28	in	in	ADP
fbem-21419	10	29	its	its	PRON
fbem-21419	10	30	stock	stock	NOUN
fbem-21419	10	31	price	price	NOUN
fbem-21419	10	32	in	in	ADP
fbem-21419	10	33	the	the	DET
fbem-21419	10	34	course	course	NOUN
fbem-21419	10	35	of	of	ADP
fbem-21419	10	36	more	more	ADJ
fbem-21419	10	37	than	than	ADP
fbem-21419	10	38	20	20	NUM
fbem-21419	10	39	years	year	NOUN
fbem-21419	10	40	,	,	PUNCT
fbem-21419	10	41	showing	show	VERB
fbem-21419	10	42	a	a	DET
fbem-21419	10	43	long	long	ADJ
fbem-21419	10	44	-	-	PUNCT
fbem-21419	10	45	term	term	NOUN
fbem-21419	10	46	upward	upward	ADJ
fbem-21419	10	47	trend	trend	NOUN
fbem-21419	10	48	,	,	PUNCT
fbem-21419	10	49	and	and	CCONJ
fbem-21419	10	50	then	then	ADV
fbem-21419	10	51	won	win	VERB
fbem-21419	10	52	the	the	DET
fbem-21419	10	53	attention	attention	NOUN
fbem-21419	10	54	of	of	ADP
fbem-21419	10	55	the	the	DET
fbem-21419	10	56	majority	majority	NOUN
fbem-21419	10	57	of	of	ADP
fbem-21419	10	58	investors	investor	NOUN
fbem-21419	10	59	.	.	PUNCT
fbem-21419	11	1	at	at	ADP
fbem-21419	11	2	the	the	DET
fbem-21419	11	3	same	same	ADJ
fbem-21419	11	4	time	time	NOUN
fbem-21419	11	5	,	,	PUNCT
fbem-21419	11	6	moutai	moutai	VERB
fbem-21419	11	7	not	not	PART
fbem-21419	11	8	only	only	ADV
fbem-21419	11	9	established	establish	VERB
fbem-21419	11	10	unparalleled	unparalleled	ADJ
fbem-21419	11	11	brand	brand	NOUN
fbem-21419	11	12	awareness	awareness	NOUN
fbem-21419	11	13	in	in	ADP
fbem-21419	11	14	the	the	DET
fbem-21419	11	15	domestic	domestic	ADJ
fbem-21419	11	16	market	market	NOUN
fbem-21419	11	17	,	,	PUNCT
fbem-21419	11	18	but	but	CCONJ
fbem-21419	11	19	also	also	ADV
fbem-21419	11	20	continued	continue	VERB
fbem-21419	11	21	to	to	PART
fbem-21419	11	22	increase	increase	VERB
fbem-21419	11	23	the	the	DET
fbem-21419	11	24	share	share	NOUN
fbem-21419	11	25	of	of	ADP
fbem-21419	11	26	its	its	PRON
fbem-21419	11	27	products	product	NOUN
fbem-21419	11	28	in	in	ADP
fbem-21419	11	29	the	the	DET
fbem-21419	11	30	high	high	ADJ
fbem-21419	11	31	-	-	PUNCT
fbem-21419	11	32	end	end	NOUN
fbem-21419	11	33	liquor	liquor	NOUN
fbem-21419	11	34	market	market	NOUN
fbem-21419	11	35	in	in	ADP
fbem-21419	11	36	china	china	PROPN
fbem-21419	11	37	.	.	PUNCT
fbem-21419	12	1	however	however	ADV
fbem-21419	12	2	,	,	PUNCT
fbem-21419	12	3	at	at	ADP
fbem-21419	12	4	present	present	ADJ
fbem-21419	12	5	,	,	PUNCT
fbem-21419	12	6	china	china	PROPN
fbem-21419	12	7	's	's	PART
fbem-21419	12	8	liquor	liquor	NOUN
fbem-21419	12	9	manufacturing	manufacturing	NOUN
fbem-21419	12	10	enterprises	enterprise	NOUN
fbem-21419	12	11	are	be	AUX
fbem-21419	12	12	generally	generally	ADV
fbem-21419	12	13	facing	face	VERB
fbem-21419	12	14	urgent	urgent	ADJ
fbem-21419	12	15	structural	structural	ADJ
fbem-21419	12	16	adjustment	adjustment	NOUN
fbem-21419	12	17	and	and	CCONJ
fbem-21419	12	18	industrial	industrial	ADJ
fbem-21419	12	19	upgrading	upgrading	NOUN
fbem-21419	12	20	needs	need	NOUN
fbem-21419	12	21	,	,	PUNCT
fbem-21419	12	22	especially	especially	ADV
fbem-21419	12	23	for	for	ADP
fbem-21419	12	24	those	those	DET
fbem-21419	12	25	small	small	ADJ
fbem-21419	12	26	and	and	CCONJ
fbem-21419	12	27	medium	medium	ADJ
fbem-21419	12	28	-	-	PUNCT
fbem-21419	12	29	sized	sized	ADJ
fbem-21419	12	30	enterprises	enterprise	NOUN
fbem-21419	12	31	with	with	ADP
fbem-21419	12	32	limited	limited	ADJ
fbem-21419	12	33	scale	scale	NOUN
fbem-21419	12	34	,	,	PUNCT
fbem-21419	12	35	poor	poor	ADJ
fbem-21419	12	36	management	management	NOUN
fbem-21419	12	37	and	and	CCONJ
fbem-21419	12	38	insufficient	insufficient	ADJ
fbem-21419	12	39	allocation	allocation	NOUN
fbem-21419	12	40	of	of	ADP
fbem-21419	12	41	human	human	ADJ
fbem-21419	12	42	resources	resource	NOUN
fbem-21419	12	43	,	,	PUNCT
fbem-21419	12	44	because	because	SCONJ
fbem-21419	12	45	of	of	ADP
fbem-21419	12	46	the	the	DET
fbem-21419	12	47	outstanding	outstanding	ADJ
fbem-21419	12	48	mismatch	mismatch	NOUN
fbem-21419	12	49	between	between	ADP
fbem-21419	12	50	their	their	PRON
fbem-21419	12	51	production	production	NOUN
fbem-21419	12	52	process	process	NOUN
fbem-21419	12	53	and	and	CCONJ
fbem-21419	12	54	supporting	support	VERB
fbem-21419	12	55	equipment	equipment	NOUN
fbem-21419	12	56	structure	structure	NOUN
fbem-21419	12	57	,	,	PUNCT
fbem-21419	12	58	these	these	DET
fbem-21419	12	59	enterprises	enterprise	NOUN
fbem-21419	12	60	are	be	AUX
fbem-21419	12	61	more	more	ADV
fbem-21419	12	62	likely	likely	ADJ
fbem-21419	12	63	to	to	PART
fbem-21419	12	64	encounter	encounter	VERB
fbem-21419	12	65	the	the	DET
fbem-21419	12	66	risk	risk	NOUN
fbem-21419	12	67	of	of	ADP
fbem-21419	12	68	merger	merger	NOUN
fbem-21419	12	69	,	,	PUNCT
fbem-21419	12	70	integration	integration	NOUN
fbem-21419	12	71	or	or	CCONJ
fbem-21419	12	72	reorganization	reorganization	NOUN
fbem-21419	12	73	.	.	PUNCT
fbem-21419	13	1	due	due	ADP
fbem-21419	13	2	to	to	ADP
fbem-21419	13	3	the	the	DET
fbem-21419	13	4	characteristics	characteristic	NOUN
fbem-21419	13	5	of	of	ADP
fbem-21419	13	6	listed	list	VERB
fbem-21419	13	7	companies	company	NOUN
fbem-21419	13	8	in	in	ADP
fbem-21419	13	9	the	the	DET
fbem-21419	13	10	baijiu	baijiu	NOUN
fbem-21419	13	11	industry	industry	NOUN
fbem-21419	13	12	,	,	PUNCT
fbem-21419	13	13	such	such	ADJ
fbem-21419	13	14	as	as	ADP
fbem-21419	13	15	low	low	ADJ
fbem-21419	13	16	level	level	NOUN
fbem-21419	13	17	of	of	ADP
fbem-21419	13	18	interest	interest	NOUN
fbem-21419	13	19	-	-	PUNCT
fbem-21419	13	20	bearing	bear	VERB
fbem-21419	13	21	liabilities	liability	NOUN
fbem-21419	13	22	,	,	PUNCT
fbem-21419	13	23	large	large	ADJ
fbem-21419	13	24	amount	amount	NOUN
fbem-21419	13	25	of	of	ADP
fbem-21419	13	26	advances	advance	NOUN
fbem-21419	13	27	and	and	CCONJ
fbem-21419	13	28	high	high	ADJ
fbem-21419	13	29	ratio	ratio	NOUN
fbem-21419	13	30	of	of	ADP
fbem-21419	13	31	inventory	inventory	NOUN
fbem-21419	13	32	to	to	ADP
fbem-21419	13	33	total	total	ADJ
fbem-21419	13	34	assets	asset	NOUN
fbem-21419	13	35	,	,	PUNCT
fbem-21419	13	36	eva	eva	PROPN
fbem-21419	13	37	has	have	VERB
fbem-21419	13	38	consistent	consistent	ADJ
fbem-21419	13	39	correlation	correlation	NOUN
fbem-21419	13	40	with	with	ADP
fbem-21419	13	41	traditional	traditional	ADJ
fbem-21419	13	42	performance	performance	NOUN
fbem-21419	13	43	measures	measure	NOUN
fbem-21419	13	44	when	when	SCONJ
fbem-21419	13	45	evaluating	evaluate	VERB
fbem-21419	13	46	baijiu	baijiu	NOUN
fbem-21419	13	47	performance[1].under	performance[1].under	VERB
fbem-21419	13	48	the	the	DET
fbem-21419	13	49	framework	framework	NOUN
fbem-21419	13	50	of	of	ADP
fbem-21419	13	51	following	follow	VERB
fbem-21419	13	52	the	the	DET
fbem-21419	13	53	eva	eva	PROPN
fbem-21419	13	54	theory	theory	NOUN
fbem-21419	13	55	,	,	PUNCT
fbem-21419	13	56	market	market	NOUN
fbem-21419	13	57	demand	demand	NOUN
fbem-21419	13	58	plays	play	VERB
fbem-21419	13	59	a	a	DET
fbem-21419	13	60	core	core	ADJ
fbem-21419	13	61	role	role	NOUN
fbem-21419	13	62	in	in	ADP
fbem-21419	13	63	the	the	DET
fbem-21419	13	64	financial	financial	ADJ
fbem-21419	13	65	budget	budget	NOUN
fbem-21419	13	66	management	management	NOUN
fbem-21419	13	67	process	process	NOUN
fbem-21419	13	68	,	,	PUNCT
fbem-21419	13	69	which	which	PRON
fbem-21419	13	70	directly	directly	ADV
fbem-21419	13	71	affects	affect	VERB
fbem-21419	13	72	the	the	DET
fbem-21419	13	73	establishment	establishment	NOUN
fbem-21419	13	74	of	of	ADP
fbem-21419	13	75	financial	financial	ADJ
fbem-21419	13	76	budget	budget	NOUN
fbem-21419	13	77	objectives	objective	NOUN
fbem-21419	13	78	,	,	PUNCT
fbem-21419	13	79	program	program	NOUN
fbem-21419	13	80	design	design	NOUN
fbem-21419	13	81	and	and	CCONJ
fbem-21419	13	82	implementation	implementation	NOUN
fbem-21419	13	83	process[2][3]。eva	process[2][3]。eva	PROPN
fbem-21419	13	84	compensation	compensation	NOUN
fbem-21419	13	85	system	system	NOUN
fbem-21419	13	86	has	have	VERB
fbem-21419	13	87	an	an	DET
fbem-21419	13	88	incentive	incentive	NOUN
fbem-21419	13	89	and	and	CCONJ
fbem-21419	13	90	substitution	substitution	NOUN
fbem-21419	13	91	effect	effect	NOUN
fbem-21419	13	92	on	on	ADP
fbem-21419	13	93	inhibiting	inhibit	VERB
fbem-21419	13	94	excessive	excessive	ADJ
fbem-21419	13	95	on	on	ADP
fbem-21419	13	96	-	-	PUNCT
fbem-21419	13	97	the	the	DET
fbem-21419	13	98	-	-	PUNCT
fbem-21419	13	99	job	job	NOUN
fbem-21419	13	100	consumption	consumption	NOUN
fbem-21419	13	101	behavior	behavior	NOUN
fbem-21419	13	102	,	,	PUNCT
fbem-21419	13	103	and	and	CCONJ
fbem-21419	13	104	internal	internal	ADJ
fbem-21419	13	105	control	control	NOUN
fbem-21419	13	106	plays	play	VERB
fbem-21419	13	107	a	a	DET
fbem-21419	13	108	positive	positive	ADJ
fbem-21419	13	109	regulating	regulate	VERB
fbem-21419	13	110	role	role	NOUN
fbem-21419	13	111	in	in	ADP
fbem-21419	13	112	this	this	DET
fbem-21419	13	113	relationship	relationship	NOUN
fbem-21419	13	114	.	.	PUNCT
fbem-21419	14	1	from	from	ADP
fbem-21419	14	2	the	the	DET
fbem-21419	14	3	perspective	perspective	NOUN
fbem-21419	14	4	of	of	ADP
fbem-21419	14	5	corporate	corporate	ADJ
fbem-21419	14	6	governance	governance	NOUN
fbem-21419	14	7	,	,	PUNCT
fbem-21419	14	8	the	the	DET
fbem-21419	14	9	theoretical	theoretical	ADJ
fbem-21419	14	10	research	research	NOUN
fbem-21419	14	11	results	result	NOUN
fbem-21419	14	12	on	on	ADP
fbem-21419	14	13	the	the	DET
fbem-21419	14	14	relevant	relevant	ADJ
fbem-21419	14	15	influencing	influence	VERB
fbem-21419	14	16	factors	factor	NOUN
fbem-21419	14	17	of	of	ADP
fbem-21419	14	18	how	how	SCONJ
fbem-21419	14	19	performance	performance	NOUN
fbem-21419	14	20	appraisal	appraisal	NOUN
fbem-21419	14	21	system	system	NOUN
fbem-21419	14	22	effectively	effectively	ADV
fbem-21419	14	23	carries	carry	VERB
fbem-21419	14	24	out	out	ADP
fbem-21419	14	25	the	the	DET
fbem-21419	14	26	restraining	restraining	NOUN
fbem-21419	14	27	function	function	NOUN
fbem-21419	14	28	are	be	AUX
fbem-21419	14	29	supplemented	supplement	VERB
fbem-21419	14	30	.	.	PUNCT
fbem-21419	15	1	it	it	PRON
fbem-21419	15	2	provides	provide	VERB
fbem-21419	15	3	useful	useful	ADJ
fbem-21419	15	4	enlightenment	enlightenment	NOUN
fbem-21419	15	5	for	for	ADP
fbem-21419	15	6	promoting	promote	VERB
fbem-21419	15	7	the	the	DET
fbem-21419	15	8	close	close	ADJ
fbem-21419	15	9	combination	combination	NOUN
fbem-21419	15	10	of	of	ADP
fbem-21419	15	11	internal	internal	ADJ
fbem-21419	15	12	control	control	NOUN
fbem-21419	15	13	,	,	PUNCT
fbem-21419	15	14	assessment	assessment	NOUN
fbem-21419	15	15	mechanism	mechanism	NOUN
fbem-21419	15	16	and	and	CCONJ
fbem-21419	15	17	compliance	compliance	NOUN
fbem-21419	15	18	requirements[4].based	requirements[4].base	VERB
fbem-21419	15	19	on	on	ADP
fbem-21419	15	20	metcalfe	metcalfe	PROPN
fbem-21419	15	21	's	's	PART
fbem-21419	15	22	law	law	NOUN
fbem-21419	15	23	and	and	CCONJ
fbem-21419	15	24	the	the	DET
fbem-21419	15	25	model	model	NOUN
fbem-21419	15	26	modified	modify	VERB
fbem-21419	15	27	by	by	ADP
fbem-21419	15	28	guotai	guotai	PROPN
fbem-21419	15	29	junan	junan	PROPN
fbem-21419	15	30	,	,	PUNCT
fbem-21419	15	31	eva	eva	PROPN
fbem-21419	15	32	is	be	AUX
fbem-21419	15	33	more	more	ADV
fbem-21419	15	34	practical	practical	ADJ
fbem-21419	15	35	for	for	ADP
fbem-21419	15	36	enterprise	enterprise	NOUN
fbem-21419	15	37	value	value	NOUN
fbem-21419	15	38	assessment	assessment	NOUN
fbem-21419	15	39	.	.	PUNCT
fbem-21419	16	1	in	in	ADP
fbem-21419	16	2	the	the	DET
fbem-21419	16	3	process	process	NOUN
fbem-21419	16	4	of	of	ADP
fbem-21419	16	5	enterprise	enterprise	NOUN
fbem-21419	16	6	valuation	valuation	NOUN
fbem-21419	16	7	,	,	PUNCT
fbem-21419	16	8	it	it	PRON
fbem-21419	16	9	should	should	AUX
fbem-21419	16	10	not	not	PART
fbem-21419	16	11	only	only	ADV
fbem-21419	16	12	be	be	AUX
fbem-21419	16	13	limited	limit	VERB
fbem-21419	16	14	to	to	ADP
fbem-21419	16	15	the	the	DET
fbem-21419	16	16	level	level	NOUN
fbem-21419	16	17	of	of	ADP
fbem-21419	16	18	financial	financial	ADJ
fbem-21419	16	19	data	datum	NOUN
fbem-21419	16	20	,	,	PUNCT
fbem-21419	16	21	but	but	CCONJ
fbem-21419	16	22	should	should	AUX
fbem-21419	16	23	consider	consider	VERB
fbem-21419	16	24	its	its	PRON
fbem-21419	16	25	value	value	NOUN
fbem-21419	16	26	in	in	ADP
fbem-21419	16	27	an	an	DET
fbem-21419	16	28	all	all	ADV
fbem-21419	16	29	-	-	PUNCT
fbem-21419	16	30	round	round	NOUN
fbem-21419	16	31	way[5].a	way[5].a	ADJ
fbem-21419	16	32	comprehensive	comprehensive	ADJ
fbem-21419	16	33	analysis	analysis	NOUN
fbem-21419	16	34	of	of	ADP
fbem-21419	16	35	kweichow	kweichow	PROPN
fbem-21419	16	36	moutai	moutai	PROPN
fbem-21419	16	37	's	's	PART
fbem-21419	16	38	financial	financial	ADJ
fbem-21419	16	39	performance	performance	NOUN
fbem-21419	16	40	is	be	AUX
fbem-21419	16	41	crucial	crucial	ADJ
fbem-21419	16	42	.	.	PUNCT
fbem-21419	17	1	an	an	DET
fbem-21419	17	2	in	in	ADP
fbem-21419	17	3	-	-	PUNCT
fbem-21419	17	4	depth	depth	NOUN
fbem-21419	17	5	analysis	analysis	NOUN
fbem-21419	17	6	of	of	ADP
fbem-21419	17	7	its	its	PRON
fbem-21419	17	8	operating	operating	NOUN
fbem-21419	17	9	conditions	condition	NOUN
fbem-21419	17	10	and	and	CCONJ
fbem-21419	17	11	capital	capital	NOUN
fbem-21419	17	12	utilization	utilization	NOUN
fbem-21419	17	13	efficiency	efficiency	NOUN
fbem-21419	17	14	will	will	AUX
fbem-21419	17	15	help	help	VERB
fbem-21419	17	16	us	we	PRON
fbem-21419	17	17	make	make	VERB
fbem-21419	17	18	more	more	ADV
fbem-21419	17	19	intelligent	intelligent	ADJ
fbem-21419	17	20	decisions	decision	NOUN
fbem-21419	17	21	in	in	ADP
fbem-21419	17	22	the	the	DET
fbem-21419	17	23	face	face	NOUN
fbem-21419	17	24	of	of	ADP
fbem-21419	17	25	complex	complex	ADJ
fbem-21419	17	26	market	market	NOUN
fbem-21419	17	27	changes	change	NOUN
fbem-21419	17	28	,	,	PUNCT
fbem-21419	17	29	explore	explore	VERB
fbem-21419	17	30	an	an	DET
fbem-21419	17	31	effective	effective	ADJ
fbem-21419	17	32	path	path	NOUN
fbem-21419	17	33	to	to	PART
fbem-21419	17	34	enhance	enhance	VERB
fbem-21419	17	35	the	the	DET
fbem-21419	17	36	intrinsic	intrinsic	ADJ
fbem-21419	17	37	value	value	NOUN
fbem-21419	17	38	of	of	ADP
fbem-21419	17	39	the	the	DET
fbem-21419	17	40	enterprise	enterprise	NOUN
fbem-21419	17	41	,	,	PUNCT
fbem-21419	17	42	and	and	CCONJ
fbem-21419	17	43	provide	provide	VERB
fbem-21419	17	44	a	a	DET
fbem-21419	17	45	reference	reference	NOUN
fbem-21419	17	46	scheme	scheme	NOUN
fbem-21419	17	47	with	with	ADP
fbem-21419	17	48	practical	practical	ADJ
fbem-21419	17	49	guiding	guiding	NOUN
fbem-21419	17	50	significance	significance	NOUN
fbem-21419	17	51	for	for	ADP
fbem-21419	17	52	the	the	DET
fbem-21419	17	53	financial	financial	ADJ
fbem-21419	17	54	performance	performance	NOUN
fbem-21419	17	55	optimization	optimization	NOUN
fbem-21419	17	56	and	and	CCONJ
fbem-21419	17	57	overall	overall	ADJ
fbem-21419	17	58	development	development	NOUN
fbem-21419	17	59	of	of	ADP
fbem-21419	17	60	the	the	DET
fbem-21419	17	61	liquor	liquor	NOUN
fbem-21419	17	62	industry	industry	NOUN
fbem-21419	17	63	.	.	PUNCT
fbem-21419	18	1	2	2	X
fbem-21419	18	2	.	.	X
fbem-21419	18	3	overview	overview	NOUN
fbem-21419	18	4	of	of	ADP
fbem-21419	18	5	kweichow	kweichow	PROPN
fbem-21419	18	6	moutai	moutai	PROPN
fbem-21419	18	7	company	company	PROPN
fbem-21419	18	8	2.1	2.1	NUM
fbem-21419	18	9	.	.	PUNCT
fbem-21419	19	1	kweichow	kweichow	PROPN
fbem-21419	19	2	moutai	moutai	PROPN
fbem-21419	19	3	company	company	NOUN
fbem-21419	19	4	profile	profile	NOUN
fbem-21419	19	5	founded	found	VERB
fbem-21419	19	6	in	in	ADP
fbem-21419	19	7	1999	1999	NUM
fbem-21419	19	8	,	,	PUNCT
fbem-21419	19	9	kweichow	kweichow	PROPN
fbem-21419	19	10	moutai	moutai	PROPN
fbem-21419	19	11	co.	co.	PROPN
fbem-21419	19	12	,	,	PUNCT
fbem-21419	19	13	ltd	ltd	PROPN
fbem-21419	19	14	.	.	PROPN
fbem-21419	19	15	was	be	AUX
fbem-21419	19	16	listed	list	VERB
fbem-21419	19	17	on	on	ADP
fbem-21419	19	18	the	the	DET
fbem-21419	19	19	shanghai	shanghai	PROPN
fbem-21419	19	20	stock	stock	PROPN
fbem-21419	19	21	exchange	exchange	PROPN
fbem-21419	19	22	on	on	ADP
fbem-21419	19	23	july	july	PROPN
fbem-21419	19	24	31	31	NUM
fbem-21419	19	25	,	,	PUNCT
fbem-21419	19	26	2001	2001	NUM
fbem-21419	19	27	,	,	PUNCT
fbem-21419	19	28	and	and	CCONJ
fbem-21419	19	29	is	be	AUX
fbem-21419	19	30	the	the	DET
fbem-21419	19	31	twelfth	twelfth	ADJ
fbem-21419	19	32	listed	list	VERB
fbem-21419	19	33	liquor	liquor	NOUN
fbem-21419	19	34	company	company	NOUN
fbem-21419	19	35	in	in	ADP
fbem-21419	19	36	china	china	PROPN
fbem-21419	19	37	.	.	PUNCT
fbem-21419	20	1	kweichow	kweichow	PROPN
fbem-21419	20	2	moutai	moutai	PROPN
fbem-21419	20	3	as	as	ADP
fbem-21419	20	4	china	china	PROPN
fbem-21419	20	5	's	's	PART
fbem-21419	20	6	top	top	ADJ
fbem-21419	20	7	high	high	ADJ
fbem-21419	20	8	-	-	PUNCT
fbem-21419	20	9	end	end	NOUN
fbem-21419	20	10	liquor	liquor	NOUN
fbem-21419	20	11	brand	brand	NOUN
fbem-21419	20	12	leader	leader	NOUN
fbem-21419	20	13	,	,	PUNCT
fbem-21419	20	14	with	with	ADP
fbem-21419	20	15	its	its	PRON
fbem-21419	20	16	unique	unique	ADJ
fbem-21419	20	17	maoflavored	maoflavored	ADJ
fbem-21419	20	18	liquor	liquor	NOUN
fbem-21419	20	19	,	,	PUNCT
fbem-21419	20	20	has	have	AUX
fbem-21419	20	21	long	long	ADV
fbem-21419	20	22	been	be	AUX
fbem-21419	20	23	famous	famous	ADJ
fbem-21419	20	24	.	.	PUNCT
fbem-21419	21	1	originating	originate	VERB
fbem-21419	21	2	from	from	ADP
fbem-21419	21	3	maotai	maotai	PROPN
fbem-21419	21	4	town	town	NOUN
fbem-21419	21	5	,	,	PUNCT
fbem-21419	21	6	renhuai	renhuai	PROPN
fbem-21419	21	7	city	city	PROPN
fbem-21419	21	8	,	,	PUNCT
fbem-21419	21	9	zunyi	zunyi	PROPN
fbem-21419	21	10	city	city	PROPN
fbem-21419	21	11	,	,	PUNCT
fbem-21419	21	12	guizhou	guizhou	PROPN
fbem-21419	21	13	province	province	PROPN
fbem-21419	21	14	,	,	PUNCT
fbem-21419	21	15	china	china	PROPN
fbem-21419	21	16	,	,	PUNCT
fbem-21419	21	17	this	this	DET
fbem-21419	21	18	wine	wine	NOUN
fbem-21419	21	19	is	be	AUX
fbem-21419	21	20	not	not	PART
fbem-21419	21	21	only	only	ADV
fbem-21419	21	22	a	a	DET
fbem-21419	21	23	leader	leader	NOUN
fbem-21419	21	24	in	in	ADP
fbem-21419	21	25	the	the	DET
fbem-21419	21	26	chinese	chinese	ADJ
fbem-21419	21	27	liquor	liquor	NOUN
fbem-21419	21	28	industry	industry	NOUN
fbem-21419	21	29	,	,	PUNCT
fbem-21419	21	30	but	but	CCONJ
fbem-21419	21	31	also	also	ADV
fbem-21419	21	32	a	a	DET
fbem-21419	21	33	shining	shine	VERB
fbem-21419	21	34	pearl	pearl	NOUN
fbem-21419	21	35	of	of	ADP
fbem-21419	21	36	traditional	traditional	ADJ
fbem-21419	21	37	chinese	chinese	ADJ
fbem-21419	21	38	craftsmanship	craftsmanship	NOUN
fbem-21419	21	39	and	and	CCONJ
fbem-21419	21	40	culture	culture	NOUN
fbem-21419	21	41	,	,	PUNCT
fbem-21419	21	42	which	which	PRON
fbem-21419	21	43	has	have	AUX
fbem-21419	21	44	won	win	VERB
fbem-21419	21	45	worldwide	worldwide	ADJ
fbem-21419	21	46	attention	attention	NOUN
fbem-21419	21	47	and	and	CCONJ
fbem-21419	21	48	international	international	ADJ
fbem-21419	21	49	praise	praise	NOUN
fbem-21419	21	50	.	.	PUNCT
fbem-21419	22	1	it	it	PRON
fbem-21419	22	2	can	can	AUX
fbem-21419	22	3	be	be	AUX
fbem-21419	22	4	said	say	VERB
fbem-21419	22	5	that	that	SCONJ
fbem-21419	22	6	moutai	moutai	NOUN
fbem-21419	22	7	,	,	PUNCT
fbem-21419	22	8	with	with	ADP
fbem-21419	22	9	its	its	PRON
fbem-21419	22	10	extraordinary	extraordinary	ADJ
fbem-21419	22	11	quality	quality	NOUN
fbem-21419	22	12	and	and	CCONJ
fbem-21419	22	13	profound	profound	ADJ
fbem-21419	22	14	cultural	cultural	ADJ
fbem-21419	22	15	heritage	heritage	NOUN
fbem-21419	22	16	,	,	PUNCT
fbem-21419	22	17	has	have	AUX
fbem-21419	22	18	become	become	VERB
fbem-21419	22	19	the	the	DET
fbem-21419	22	20	benchmark	benchmark	NOUN
fbem-21419	22	21	of	of	ADP
fbem-21419	22	22	chinese	chinese	ADJ
fbem-21419	22	23	liquor	liquor	NOUN
fbem-21419	22	24	and	and	CCONJ
fbem-21419	22	25	leads	lead	VERB
fbem-21419	22	26	the	the	DET
fbem-21419	22	27	development	development	NOUN
fbem-21419	22	28	trend	trend	NOUN
fbem-21419	22	29	of	of	ADP
fbem-21419	22	30	the	the	DET
fbem-21419	22	31	industry	industry	NOUN
fbem-21419	22	32	.	.	PUNCT
fbem-21419	23	1	at	at	ADP
fbem-21419	23	2	the	the	DET
fbem-21419	23	3	same	same	ADJ
fbem-21419	23	4	time	time	NOUN
fbem-21419	23	5	,	,	PUNCT
fbem-21419	23	6	it	it	PRON
fbem-21419	23	7	also	also	ADV
fbem-21419	23	8	carries	carry	VERB
fbem-21419	23	9	the	the	DET
fbem-21419	23	10	essence	essence	NOUN
fbem-21419	23	11	of	of	ADP
fbem-21419	23	12	traditional	traditional	ADJ
fbem-21419	23	13	chinese	chinese	ADJ
fbem-21419	23	14	culture	culture	NOUN
fbem-21419	23	15	and	and	CCONJ
fbem-21419	23	16	shows	show	VERB
fbem-21419	23	17	the	the	DET
fbem-21419	23	18	world	world	NOUN
fbem-21419	23	19	the	the	DET
fbem-21419	23	20	outstanding	outstanding	ADJ
fbem-21419	23	21	achievements	achievement	NOUN
fbem-21419	23	22	of	of	ADP
fbem-21419	23	23	chinese	chinese	ADJ
fbem-21419	23	24	wine	wine	NOUN
fbem-21419	23	25	making	make	VERB
fbem-21419	23	26	technology	technology	NOUN
fbem-21419	23	27	.	.	PUNCT
fbem-21419	24	1	whether	whether	SCONJ
fbem-21419	24	2	in	in	ADP
fbem-21419	24	3	the	the	DET
fbem-21419	24	4	domestic	domestic	ADJ
fbem-21419	24	5	or	or	CCONJ
fbem-21419	24	6	international	international	ADJ
fbem-21419	24	7	141	141	NUM
fbem-21419	24	8	market	market	NOUN
fbem-21419	24	9	,	,	PUNCT
fbem-21419	24	10	maotai	maotai	VERB
fbem-21419	24	11	wine	wine	NOUN
fbem-21419	24	12	enjoys	enjoy	VERB
fbem-21419	24	13	a	a	DET
fbem-21419	24	14	very	very	ADV
fbem-21419	24	15	high	high	ADJ
fbem-21419	24	16	reputation	reputation	NOUN
fbem-21419	24	17	and	and	CCONJ
fbem-21419	24	18	status	status	NOUN
fbem-21419	24	19	,	,	PUNCT
fbem-21419	24	20	and	and	CCONJ
fbem-21419	24	21	is	be	AUX
fbem-21419	24	22	the	the	DET
fbem-21419	24	23	favorite	favorite	ADJ
fbem-21419	24	24	treasure	treasure	NOUN
fbem-21419	24	25	of	of	ADP
fbem-21419	24	26	many	many	ADJ
fbem-21419	24	27	consumers	consumer	NOUN
fbem-21419	24	28	and	and	CCONJ
fbem-21419	24	29	collectors	collector	NOUN
fbem-21419	24	30	.	.	PUNCT
fbem-21419	25	1	in	in	ADP
fbem-21419	25	2	recent	recent	ADJ
fbem-21419	25	3	years	year	NOUN
fbem-21419	25	4	,	,	PUNCT
fbem-21419	25	5	kweichow	kweichow	ADP
fbem-21419	25	6	moutai	moutai	PROPN
fbem-21419	25	7	has	have	AUX
fbem-21419	25	8	achieved	achieve	VERB
fbem-21419	25	9	remarkable	remarkable	ADJ
fbem-21419	25	10	growth	growth	NOUN
fbem-21419	25	11	in	in	ADP
fbem-21419	25	12	performance	performance	NOUN
fbem-21419	25	13	.	.	PUNCT
fbem-21419	26	1	kweichow	kweichow	PROPN
fbem-21419	26	2	moutai	moutai	PROPN
fbem-21419	26	3	achieved	achieve	VERB
fbem-21419	26	4	an	an	DET
fbem-21419	26	5	operating	operate	VERB
fbem-21419	26	6	income	income	NOUN
fbem-21419	26	7	of	of	ADP
fbem-21419	26	8	147.694	147.694	NUM
fbem-21419	26	9	billion	billion	NUM
fbem-21419	26	10	yuan	yuan	NOUN
fbem-21419	26	11	in	in	ADP
fbem-21419	26	12	2023	2023	NUM
fbem-21419	26	13	,	,	PUNCT
fbem-21419	26	14	an	an	DET
fbem-21419	26	15	increase	increase	NOUN
fbem-21419	26	16	of	of	ADP
fbem-21419	26	17	19.01	19.01	NUM
fbem-21419	26	18	percentage	percentage	NOUN
fbem-21419	26	19	points	point	NOUN
fbem-21419	26	20	compared	compare	VERB
fbem-21419	26	21	with	with	ADP
fbem-21419	26	22	the	the	DET
fbem-21419	26	23	previous	previous	ADJ
fbem-21419	26	24	year	year	NOUN
fbem-21419	26	25	;	;	PUNCT
fbem-21419	26	26	its	its	PRON
fbem-21419	26	27	total	total	ADJ
fbem-21419	26	28	annual	annual	ADJ
fbem-21419	26	29	profit	profit	NOUN
fbem-21419	26	30	historically	historically	ADV
fbem-21419	26	31	exceeded	exceed	VERB
fbem-21419	26	32	the	the	DET
fbem-21419	26	33	100	100	NUM
fbem-21419	26	34	billion	billion	NUM
fbem-21419	26	35	yuan	yuan	NOUN
fbem-21419	26	36	mark	mark	NOUN
fbem-21419	26	37	,	,	PUNCT
fbem-21419	26	38	reaching	reach	VERB
fbem-21419	26	39	103.663	103.663	NUM
fbem-21419	26	40	billion	billion	NUM
fbem-21419	26	41	yuan	yuan	NOUN
fbem-21419	26	42	,	,	PUNCT
fbem-21419	26	43	an	an	DET
fbem-21419	26	44	increase	increase	NOUN
fbem-21419	26	45	of	of	ADP
fbem-21419	26	46	18.20	18.20	NUM
fbem-21419	26	47	%	%	NOUN
fbem-21419	26	48	over	over	ADP
fbem-21419	26	49	the	the	DET
fbem-21419	26	50	same	same	ADJ
fbem-21419	26	51	period	period	NOUN
fbem-21419	26	52	last	last	ADJ
fbem-21419	26	53	year	year	NOUN
fbem-21419	26	54	,	,	PUNCT
fbem-21419	26	55	ranking	rank	VERB
fbem-21419	26	56	first	first	ADV
fbem-21419	26	57	in	in	ADP
fbem-21419	26	58	the	the	DET
fbem-21419	26	59	"	"	PUNCT
fbem-21419	26	60	top	top	ADJ
fbem-21419	26	61	100	100	NUM
fbem-21419	26	62	enterprises	enterprise	NOUN
fbem-21419	26	63	in	in	ADP
fbem-21419	26	64	guizhou	guizhou	NOUN
fbem-21419	26	65	in	in	ADP
fbem-21419	26	66	2023	2023	NUM
fbem-21419	26	67	"	"	PUNCT
fbem-21419	26	68	.	.	PUNCT
fbem-21419	27	1	2.2	2.2	NUM
fbem-21419	27	2	.	.	PUNCT
fbem-21419	27	3	analysis	analysis	NOUN
fbem-21419	27	4	of	of	ADP
fbem-21419	27	5	traditional	traditional	ADJ
fbem-21419	27	6	financial	financial	ADJ
fbem-21419	27	7	index	index	NOUN
fbem-21419	27	8	of	of	ADP
fbem-21419	27	9	kweichow	kweichow	PROPN
fbem-21419	27	10	moutai	moutai	PROPN
fbem-21419	27	11	2.2.1	2.2.1	NUM
fbem-21419	27	12	.	.	PUNCT
fbem-21419	28	1	solvency	solvency	NOUN
fbem-21419	28	2	analysis	analysis	NOUN
fbem-21419	28	3	table	table	NOUN
fbem-21419	28	4	1	1	NUM
fbem-21419	28	5	.	.	PUNCT
fbem-21419	29	1	kweichow	kweichow	PROPN
fbem-21419	29	2	moutai	moutai	PROPN
fbem-21419	29	3	's	's	PART
fbem-21419	29	4	solvency	solvency	NOUN
fbem-21419	29	5	in	in	ADP
fbem-21419	29	6	2019	2019	NUM
fbem-21419	29	7	-	-	SYM
fbem-21419	29	8	2023	2023	NUM
fbem-21419	29	9	time	time	NOUN
fbem-21419	29	10	2019	2019	NUM
fbem-21419	29	11	2020	2020	NUM
fbem-21419	29	12	2021	2021	NUM
fbem-21419	29	13	2022	2022	NUM
fbem-21419	29	14	2023	2023	NUM
fbem-21419	29	15	current	current	ADJ
fbem-21419	29	16	ratio	ratio	NOUN
fbem-21419	29	17	3.87	3.87	NUM
fbem-21419	29	18	4.06	4.06	NUM
fbem-21419	29	19	3.81	3.81	NUM
fbem-21419	29	20	4.41	4.41	NUM
fbem-21419	29	21	4.62	4.62	NUM
fbem-21419	29	22	quick	quick	ADJ
fbem-21419	29	23	ratio	ratio	NOUN
fbem-21419	29	24	3.25	3.25	NUM
fbem-21419	29	25	3.43	3.43	NUM
fbem-21419	29	26	3.24	3.24	NUM
fbem-21419	29	27	3.62	3.62	NUM
fbem-21419	29	28	3.67	3.67	NUM
fbem-21419	29	29	asset	asset	NOUN
fbem-21419	29	30	-	-	PUNCT
fbem-21419	29	31	liability	liability	NOUN
fbem-21419	29	32	ratio	ratio	NOUN
fbem-21419	29	33	0.22	0.22	NUM
fbem-21419	29	34	0.21	0.21	NUM
fbem-21419	29	35	0.23	0.23	NUM
fbem-21419	29	36	0.19	0.19	NUM
fbem-21419	29	37	0.18	0.18	NUM
fbem-21419	29	38	when	when	SCONJ
fbem-21419	29	39	evaluating	evaluate	VERB
fbem-21419	29	40	the	the	DET
fbem-21419	29	41	short	short	ADJ
fbem-21419	29	42	-	-	PUNCT
fbem-21419	29	43	term	term	NOUN
fbem-21419	29	44	debt	debt	NOUN
fbem-21419	29	45	paying	pay	VERB
fbem-21419	29	46	ability	ability	NOUN
fbem-21419	29	47	of	of	ADP
fbem-21419	29	48	an	an	DET
fbem-21419	29	49	enterprise	enterprise	NOUN
fbem-21419	29	50	,	,	PUNCT
fbem-21419	29	51	if	if	SCONJ
fbem-21419	29	52	the	the	DET
fbem-21419	29	53	current	current	ADJ
fbem-21419	29	54	ratio	ratio	NOUN
fbem-21419	29	55	is	be	AUX
fbem-21419	29	56	used	use	VERB
fbem-21419	29	57	as	as	ADP
fbem-21419	29	58	an	an	DET
fbem-21419	29	59	indicator	indicator	NOUN
fbem-21419	29	60	,	,	PUNCT
fbem-21419	29	61	the	the	PRON
fbem-21419	29	62	higher	high	ADJ
fbem-21419	29	63	the	the	DET
fbem-21419	29	64	current	current	ADJ
fbem-21419	29	65	ratio	ratio	NOUN
fbem-21419	29	66	is	be	AUX
fbem-21419	29	67	,	,	PUNCT
fbem-21419	29	68	the	the	DET
fbem-21419	29	69	more	more	ADJ
fbem-21419	29	70	funds	fund	NOUN
fbem-21419	29	71	the	the	DET
fbem-21419	29	72	enterprise	enterprise	NOUN
fbem-21419	29	73	can	can	AUX
fbem-21419	29	74	have	have	VERB
fbem-21419	29	75	on	on	ADP
fbem-21419	29	76	hand	hand	NOUN
fbem-21419	29	77	to	to	PART
fbem-21419	29	78	repay	repay	VERB
fbem-21419	29	79	the	the	DET
fbem-21419	29	80	short	short	ADJ
fbem-21419	29	81	-	-	PUNCT
fbem-21419	29	82	term	term	NOUN
fbem-21419	29	83	debt	debt	NOUN
fbem-21419	29	84	,	,	PUNCT
fbem-21419	29	85	thus	thus	ADV
fbem-21419	29	86	indicating	indicate	VERB
fbem-21419	29	87	its	its	PRON
fbem-21419	29	88	strong	strong	ADJ
fbem-21419	29	89	short	short	ADJ
fbem-21419	29	90	-	-	PUNCT
fbem-21419	29	91	term	term	NOUN
fbem-21419	29	92	debt	debt	NOUN
fbem-21419	29	93	paying	pay	VERB
fbem-21419	29	94	ability	ability	NOUN
fbem-21419	29	95	.	.	PUNCT
fbem-21419	30	1	as	as	SCONJ
fbem-21419	30	2	can	can	AUX
fbem-21419	30	3	be	be	AUX
fbem-21419	30	4	seen	see	VERB
fbem-21419	30	5	from	from	ADP
fbem-21419	30	6	table	table	NOUN
fbem-21419	30	7	1	1	NUM
fbem-21419	30	8	,	,	PUNCT
fbem-21419	30	9	kweichow	kweichow	PROPN
fbem-21419	30	10	moutai	moutai	PROPN
fbem-21419	30	11	's	's	PART
fbem-21419	30	12	current	current	ADJ
fbem-21419	30	13	ratio	ratio	NOUN
fbem-21419	30	14	from	from	ADP
fbem-21419	30	15	2019	2019	NUM
fbem-21419	30	16	to	to	ADP
fbem-21419	30	17	2023	2023	NUM
fbem-21419	30	18	is	be	AUX
fbem-21419	30	19	above	above	ADP
fbem-21419	30	20	3.8	3.8	NUM
fbem-21419	30	21	,	,	PUNCT
fbem-21419	30	22	and	and	CCONJ
fbem-21419	30	23	its	its	PRON
fbem-21419	30	24	current	current	ADJ
fbem-21419	30	25	assets	asset	NOUN
fbem-21419	30	26	are	be	AUX
fbem-21419	30	27	sufficient	sufficient	ADJ
fbem-21419	30	28	to	to	PART
fbem-21419	30	29	cover	cover	VERB
fbem-21419	30	30	or	or	CCONJ
fbem-21419	30	31	offset	offset	VERB
fbem-21419	30	32	its	its	PRON
fbem-21419	30	33	current	current	ADJ
fbem-21419	30	34	liabilities	liability	NOUN
fbem-21419	30	35	.	.	PUNCT
fbem-21419	31	1	from	from	ADP
fbem-21419	31	2	2019	2019	NUM
fbem-21419	31	3	to	to	ADP
fbem-21419	31	4	2023	2023	NUM
fbem-21419	31	5	,	,	PUNCT
fbem-21419	31	6	the	the	DET
fbem-21419	31	7	quick	quick	ADJ
fbem-21419	31	8	ratio	ratio	NOUN
fbem-21419	31	9	of	of	ADP
fbem-21419	31	10	kweichow	kweichow	PROPN
fbem-21419	31	11	moutai	moutai	PROPN
fbem-21419	31	12	is	be	AUX
fbem-21419	31	13	above	above	ADP
fbem-21419	31	14	3.2	3.2	NUM
fbem-21419	31	15	,	,	PUNCT
fbem-21419	31	16	which	which	PRON
fbem-21419	31	17	means	mean	VERB
fbem-21419	31	18	that	that	SCONJ
fbem-21419	31	19	kweichow	kweichow	PROPN
fbem-21419	31	20	moutai	moutai	PROPN
fbem-21419	31	21	has	have	VERB
fbem-21419	31	22	a	a	DET
fbem-21419	31	23	good	good	ADJ
fbem-21419	31	24	short	short	ADJ
fbem-21419	31	25	-	-	PUNCT
fbem-21419	31	26	term	term	NOUN
fbem-21419	31	27	debt	debt	NOUN
fbem-21419	31	28	repayment	repayment	NOUN
fbem-21419	31	29	ability	ability	NOUN
fbem-21419	31	30	,	,	PUNCT
fbem-21419	31	31	and	and	CCONJ
fbem-21419	31	32	its	its	PRON
fbem-21419	31	33	accounts	account	NOUN
fbem-21419	31	34	receivable	receivable	ADJ
fbem-21419	31	35	have	have	AUX
fbem-21419	31	36	been	be	AUX
fbem-21419	31	37	kept	keep	VERB
fbem-21419	31	38	at	at	ADP
fbem-21419	31	39	a	a	DET
fbem-21419	31	40	low	low	ADJ
fbem-21419	31	41	level	level	NOUN
fbem-21419	31	42	,	,	PUNCT
fbem-21419	31	43	which	which	PRON
fbem-21419	31	44	has	have	VERB
fbem-21419	31	45	a	a	DET
fbem-21419	31	46	significant	significant	ADJ
fbem-21419	31	47	effect	effect	NOUN
fbem-21419	31	48	on	on	ADP
fbem-21419	31	49	improving	improve	VERB
fbem-21419	31	50	the	the	DET
fbem-21419	31	51	company	company	NOUN
fbem-21419	31	52	's	's	PART
fbem-21419	31	53	short	short	ADJ
fbem-21419	31	54	-	-	PUNCT
fbem-21419	31	55	term	term	NOUN
fbem-21419	31	56	debt	debt	NOUN
fbem-21419	31	57	repayment	repayment	NOUN
fbem-21419	31	58	strength	strength	NOUN
fbem-21419	31	59	,	,	PUNCT
fbem-21419	31	60	which	which	PRON
fbem-21419	31	61	is	be	AUX
fbem-21419	31	62	undoubtedly	undoubtedly	ADV
fbem-21419	31	63	a	a	DET
fbem-21419	31	64	positive	positive	ADJ
fbem-21419	31	65	phenomenon	phenomenon	NOUN
fbem-21419	31	66	for	for	ADP
fbem-21419	31	67	creditors	creditor	NOUN
fbem-21419	31	68	.	.	PUNCT
fbem-21419	32	1	from	from	ADP
fbem-21419	32	2	the	the	DET
fbem-21419	32	3	perspective	perspective	NOUN
fbem-21419	32	4	of	of	ADP
fbem-21419	32	5	asset	asset	NOUN
fbem-21419	32	6	-	-	PUNCT
fbem-21419	32	7	liability	liability	NOUN
fbem-21419	32	8	ratio	ratio	NOUN
fbem-21419	32	9	,	,	PUNCT
fbem-21419	32	10	kweichow	kweichow	PROPN
fbem-21419	32	11	moutai	moutai	PROPN
fbem-21419	32	12	maintains	maintain	VERB
fbem-21419	32	13	around	around	ADP
fbem-21419	32	14	0.2	0.2	NUM
fbem-21419	32	15	,	,	PUNCT
fbem-21419	32	16	and	and	CCONJ
fbem-21419	32	17	the	the	DET
fbem-21419	32	18	debt	debt	NOUN
fbem-21419	32	19	-	-	PUNCT
fbem-21419	32	20	to	to	ADP
fbem-21419	32	21	-	-	PUNCT
fbem-21419	32	22	capital	capital	NOUN
fbem-21419	32	23	ratio	ratio	NOUN
fbem-21419	32	24	of	of	ADP
fbem-21419	32	25	the	the	DET
fbem-21419	32	26	company	company	NOUN
fbem-21419	32	27	in	in	ADP
fbem-21419	32	28	the	the	DET
fbem-21419	32	29	capital	capital	NOUN
fbem-21419	32	30	structure	structure	NOUN
fbem-21419	32	31	is	be	AUX
fbem-21419	32	32	relatively	relatively	ADV
fbem-21419	32	33	low	low	ADJ
fbem-21419	32	34	,	,	PUNCT
fbem-21419	32	35	which	which	PRON
fbem-21419	32	36	means	mean	VERB
fbem-21419	32	37	that	that	SCONJ
fbem-21419	32	38	the	the	DET
fbem-21419	32	39	proportion	proportion	NOUN
fbem-21419	32	40	of	of	ADP
fbem-21419	32	41	equity	equity	NOUN
fbem-21419	32	42	capital	capital	NOUN
fbem-21419	32	43	is	be	AUX
fbem-21419	32	44	high	high	ADJ
fbem-21419	32	45	,	,	PUNCT
fbem-21419	32	46	which	which	PRON
fbem-21419	32	47	indicates	indicate	VERB
fbem-21419	32	48	that	that	SCONJ
fbem-21419	32	49	the	the	DET
fbem-21419	32	50	company	company	NOUN
fbem-21419	32	51	's	's	PART
fbem-21419	32	52	debt	debt	NOUN
fbem-21419	32	53	repayment	repayment	NOUN
fbem-21419	32	54	risk	risk	NOUN
fbem-21419	32	55	is	be	AUX
fbem-21419	32	56	low	low	ADJ
fbem-21419	32	57	,	,	PUNCT
fbem-21419	32	58	and	and	CCONJ
fbem-21419	32	59	thus	thus	ADV
fbem-21419	32	60	effectively	effectively	ADV
fbem-21419	32	61	boosts	boost	VERB
fbem-21419	32	62	creditors	creditor	NOUN
fbem-21419	32	63	'	'	PART
fbem-21419	32	64	confidence	confidence	NOUN
fbem-21419	32	65	in	in	ADP
fbem-21419	32	66	the	the	DET
fbem-21419	32	67	solvency	solvency	NOUN
fbem-21419	32	68	of	of	ADP
fbem-21419	32	69	the	the	DET
fbem-21419	32	70	enterprise	enterprise	NOUN
fbem-21419	32	71	.	.	PUNCT
fbem-21419	33	1	while	while	SCONJ
fbem-21419	33	2	low	low	ADJ
fbem-21419	33	3	debt	debt	NOUN
fbem-21419	33	4	ratios	ratio	NOUN
fbem-21419	33	5	are	be	AUX
fbem-21419	33	6	beneficial	beneficial	ADJ
fbem-21419	33	7	from	from	ADP
fbem-21419	33	8	a	a	DET
fbem-21419	33	9	risk	risk	NOUN
fbem-21419	33	10	perspective	perspective	NOUN
fbem-21419	33	11	,	,	PUNCT
fbem-21419	33	12	being	be	AUX
fbem-21419	33	13	too	too	ADV
fbem-21419	33	14	conservative	conservative	ADJ
fbem-21419	33	15	can	can	AUX
fbem-21419	33	16	also	also	ADV
fbem-21419	33	17	mean	mean	VERB
fbem-21419	33	18	that	that	SCONJ
fbem-21419	33	19	companies	company	NOUN
fbem-21419	33	20	are	be	AUX
fbem-21419	33	21	failing	fail	VERB
fbem-21419	33	22	to	to	PART
fbem-21419	33	23	leverage	leverage	VERB
fbem-21419	33	24	enough	enough	ADV
fbem-21419	33	25	to	to	PART
fbem-21419	33	26	enhance	enhance	VERB
fbem-21419	33	27	shareholder	shareholder	NOUN
fbem-21419	33	28	returns	return	NOUN
fbem-21419	33	29	.	.	PUNCT
fbem-21419	34	1	kweichow	kweichow	INTJ
fbem-21419	34	2	moutai	moutai	NOUN
fbem-21419	34	3	in	in	ADP
fbem-21419	34	4	the	the	DET
fbem-21419	34	5	face	face	NOUN
fbem-21419	34	6	of	of	ADP
fbem-21419	34	7	largescale	largescale	NOUN
fbem-21419	34	8	capacity	capacity	NOUN
fbem-21419	34	9	expansion	expansion	NOUN
fbem-21419	34	10	,	,	PUNCT
fbem-21419	34	11	brand	brand	NOUN
fbem-21419	34	12	building	building	NOUN
fbem-21419	34	13	upgrade	upgrade	VERB
fbem-21419	34	14	or	or	CCONJ
fbem-21419	34	15	other	other	ADJ
fbem-21419	34	16	strategic	strategic	ADJ
fbem-21419	34	17	measures	measure	NOUN
fbem-21419	34	18	that	that	PRON
fbem-21419	34	19	can	can	AUX
fbem-21419	34	20	significantly	significantly	ADV
fbem-21419	34	21	enhance	enhance	VERB
fbem-21419	34	22	corporate	corporate	ADJ
fbem-21419	34	23	value	value	NOUN
fbem-21419	34	24	,	,	PUNCT
fbem-21419	34	25	only	only	ADV
fbem-21419	34	26	relying	rely	VERB
fbem-21419	34	27	on	on	ADP
fbem-21419	34	28	internal	internal	ADJ
fbem-21419	34	29	funds	fund	NOUN
fbem-21419	34	30	rather	rather	ADV
fbem-21419	34	31	than	than	ADP
fbem-21419	34	32	debt	debt	NOUN
fbem-21419	34	33	financing	financing	NOUN
fbem-21419	34	34	,	,	PUNCT
fbem-21419	34	35	then	then	ADV
fbem-21419	34	36	in	in	ADP
fbem-21419	34	37	the	the	DET
fbem-21419	34	38	short	short	ADJ
fbem-21419	34	39	term	term	NOUN
fbem-21419	34	40	may	may	AUX
fbem-21419	34	41	avoid	avoid	VERB
fbem-21419	34	42	financial	financial	ADJ
fbem-21419	34	43	risks	risk	NOUN
fbem-21419	34	44	,	,	PUNCT
fbem-21419	34	45	but	but	CCONJ
fbem-21419	34	46	in	in	ADP
fbem-21419	34	47	the	the	DET
fbem-21419	34	48	long	long	ADJ
fbem-21419	34	49	run	run	NOUN
fbem-21419	34	50	may	may	AUX
fbem-21419	34	51	miss	miss	VERB
fbem-21419	34	52	the	the	DET
fbem-21419	34	53	opportunity	opportunity	NOUN
fbem-21419	34	54	to	to	PART
fbem-21419	34	55	increase	increase	VERB
fbem-21419	34	56	investment	investment	NOUN
fbem-21419	34	57	to	to	PART
fbem-21419	34	58	obtain	obtain	VERB
fbem-21419	34	59	higher	high	ADJ
fbem-21419	34	60	returns	return	NOUN
fbem-21419	34	61	,	,	PUNCT
fbem-21419	34	62	which	which	PRON
fbem-21419	34	63	is	be	AUX
fbem-21419	34	64	not	not	PART
fbem-21419	34	65	the	the	DET
fbem-21419	34	66	best	good	ADJ
fbem-21419	34	67	choice	choice	NOUN
fbem-21419	34	68	for	for	ADP
fbem-21419	34	69	the	the	DET
fbem-21419	34	70	growth	growth	NOUN
fbem-21419	34	71	of	of	ADP
fbem-21419	34	72	shareholders	shareholder	NOUN
fbem-21419	34	73	'	'	PART
fbem-21419	34	74	equity	equity	NOUN
fbem-21419	34	75	.	.	PUNCT
fbem-21419	35	1	2.2.2	2.2.2	X
fbem-21419	35	2	.	.	PUNCT
fbem-21419	35	3	profitability	profitability	NOUN
fbem-21419	35	4	analysis	analysis	NOUN
fbem-21419	35	5	table	table	NOUN
fbem-21419	35	6	2	2	NUM
fbem-21419	35	7	.	.	PUNCT
fbem-21419	36	1	kweichow	kweichow	AUX
fbem-21419	36	2	moutai	moutai	PROPN
fbem-21419	36	3	's	's	PART
fbem-21419	36	4	profitability	profitability	NOUN
fbem-21419	36	5	in	in	ADP
fbem-21419	36	6	2019	2019	NUM
fbem-21419	36	7	-	-	SYM
fbem-21419	36	8	2023	2023	NUM
fbem-21419	36	9	time	time	NOUN
fbem-21419	36	10	2019	2019	NUM
fbem-21419	36	11	2020	2020	NUM
fbem-21419	36	12	2021	2021	NUM
fbem-21419	36	13	2022	2022	NUM
fbem-21419	36	14	2023	2023	NUM
fbem-21419	36	15	net	net	ADJ
fbem-21419	36	16	profit	profit	NOUN
fbem-21419	36	17	margin	margin	NOUN
fbem-21419	36	18	on	on	ADP
fbem-21419	36	19	sales	sale	NOUN
fbem-21419	36	20	51.47	51.47	NUM
fbem-21419	36	21	%	%	NOUN
fbem-21419	36	22	52.18	52.18	NUM
fbem-21419	36	23	%	%	NOUN
fbem-21419	36	24	52.47	52.47	NUM
fbem-21419	36	25	%	%	NOUN
fbem-21419	36	26	52.68	52.68	NUM
fbem-21419	36	27	%	%	NOUN
fbem-21419	36	28	52.49	52.49	NUM
fbem-21419	36	29	%	%	NOUN
fbem-21419	36	30	return	return	NOUN
fbem-21419	36	31	on	on	ADP
fbem-21419	36	32	equity	equity	NOUN
fbem-21419	36	33	33.09	33.09	NUM
fbem-21419	36	34	%	%	NOUN
fbem-21419	36	35	31.41	31.41	NUM
fbem-21419	36	36	%	%	NOUN
fbem-21419	36	37	29.90	29.90	NUM
fbem-21419	36	38	%	%	NOUN
fbem-21419	36	39	30.26	30.26	NUM
fbem-21419	36	40	%	%	NOUN
fbem-21419	36	41	34.19	34.19	NUM
fbem-21419	36	42	%	%	NOUN
fbem-21419	36	43	return	return	NOUN
fbem-21419	36	44	on	on	ADP
fbem-21419	36	45	total	total	ADJ
fbem-21419	36	46	assets	asset	NOUN
fbem-21419	36	47	34.27	34.27	NUM
fbem-21419	36	48	%	%	NOUN
fbem-21419	36	49	33.26	33.26	NUM
fbem-21419	36	50	%	%	NOUN
fbem-21419	36	51	31.41	31.41	NUM
fbem-21419	36	52	%	%	NOUN
fbem-21419	36	53	33.85	33.85	NUM
fbem-21419	36	54	%	%	NOUN
fbem-21419	36	55	38.60	38.60	NUM
fbem-21419	36	56	%	%	NOUN
fbem-21419	36	57	as	as	SCONJ
fbem-21419	36	58	can	can	AUX
fbem-21419	36	59	be	be	AUX
fbem-21419	36	60	seen	see	VERB
fbem-21419	36	61	from	from	ADP
fbem-21419	36	62	table	table	NOUN
fbem-21419	36	63	2	2	NUM
fbem-21419	36	64	,	,	PUNCT
fbem-21419	36	65	during	during	ADP
fbem-21419	36	66	the	the	DET
fbem-21419	36	67	period	period	NOUN
fbem-21419	36	68	from	from	ADP
fbem-21419	36	69	2019	2019	NUM
fbem-21419	36	70	to	to	ADP
fbem-21419	36	71	2023	2023	NUM
fbem-21419	36	72	,	,	PUNCT
fbem-21419	36	73	kweichow	kweichow	PROPN
fbem-21419	36	74	moutai	moutai	PROPN
fbem-21419	36	75	's	's	PART
fbem-21419	36	76	net	net	ADJ
fbem-21419	36	77	profit	profit	NOUN
fbem-21419	36	78	margin	margin	NOUN
fbem-21419	36	79	on	on	ADP
fbem-21419	36	80	sales	sale	NOUN
fbem-21419	36	81	fluctuates	fluctuate	NOUN
fbem-21419	36	82	between	between	ADP
fbem-21419	36	83	51.47	51.47	NUM
fbem-21419	36	84	%	%	NOUN
fbem-21419	36	85	and	and	CCONJ
fbem-21419	36	86	52.68	52.68	NUM
fbem-21419	36	87	%	%	NOUN
fbem-21419	36	88	,	,	PUNCT
fbem-21419	36	89	and	and	CCONJ
fbem-21419	36	90	the	the	DET
fbem-21419	36	91	calculated	calculated	ADJ
fbem-21419	36	92	average	average	ADJ
fbem-21419	36	93	net	net	ADJ
fbem-21419	36	94	profit	profit	NOUN
fbem-21419	36	95	rate	rate	NOUN
fbem-21419	36	96	on	on	ADP
fbem-21419	36	97	sales	sale	NOUN
fbem-21419	36	98	is	be	AUX
fbem-21419	36	99	52.26	52.26	NUM
fbem-21419	36	100	%	%	NOUN
fbem-21419	36	101	.	.	PUNCT
fbem-21419	37	1	compared	compare	VERB
fbem-21419	37	2	with	with	ADP
fbem-21419	37	3	the	the	DET
fbem-21419	37	4	net	net	ADJ
fbem-21419	37	5	profit	profit	NOUN
fbem-21419	37	6	ratio	ratio	NOUN
fbem-21419	37	7	of	of	ADP
fbem-21419	37	8	the	the	DET
fbem-21419	37	9	liquor	liquor	NOUN
fbem-21419	37	10	industry	industry	NOUN
fbem-21419	37	11	,	,	PUNCT
fbem-21419	37	12	according	accord	VERB
fbem-21419	37	13	to	to	ADP
fbem-21419	37	14	the	the	DET
fbem-21419	37	15	publicly	publicly	ADV
fbem-21419	37	16	disclosed	disclose	VERB
fbem-21419	37	17	data	datum	NOUN
fbem-21419	37	18	,	,	PUNCT
fbem-21419	37	19	the	the	DET
fbem-21419	37	20	average	average	ADJ
fbem-21419	37	21	net	net	ADJ
fbem-21419	37	22	profit	profit	NOUN
fbem-21419	37	23	rate	rate	NOUN
fbem-21419	37	24	of	of	ADP
fbem-21419	37	25	china	china	PROPN
fbem-21419	37	26	's	's	PART
fbem-21419	37	27	high	high	ADJ
fbem-21419	37	28	-	-	PUNCT
fbem-21419	37	29	end	end	NOUN
fbem-21419	37	30	liquor	liquor	NOUN
fbem-21419	37	31	industry	industry	NOUN
fbem-21419	37	32	in	in	ADP
fbem-21419	37	33	2023	2023	NUM
fbem-21419	37	34	is	be	AUX
fbem-21419	37	35	39.5	39.5	NUM
fbem-21419	37	36	%	%	NOUN
fbem-21419	37	37	,	,	PUNCT
fbem-21419	37	38	which	which	PRON
fbem-21419	37	39	is	be	AUX
fbem-21419	37	40	12.76	12.76	NUM
fbem-21419	37	41	%	%	NOUN
fbem-21419	37	42	lower	low	ADJ
fbem-21419	37	43	than	than	ADP
fbem-21419	37	44	the	the	DET
fbem-21419	37	45	average	average	ADJ
fbem-21419	37	46	value	value	NOUN
fbem-21419	37	47	of	of	ADP
fbem-21419	37	48	kweichow	kweichow	PROPN
fbem-21419	37	49	moutai	moutai	NOUN
fbem-21419	37	50	from	from	ADP
fbem-21419	37	51	2019	2019	NUM
fbem-21419	37	52	to	to	ADP
fbem-21419	37	53	2023	2023	NUM
fbem-21419	37	54	.	.	PUNCT
fbem-21419	38	1	therefore	therefore	ADV
fbem-21419	38	2	,	,	PUNCT
fbem-21419	38	3	kweichow	kweichow	PROPN
fbem-21419	38	4	moutai	moutai	PROPN
fbem-21419	38	5	company	company	NOUN
fbem-21419	38	6	's	's	PART
fbem-21419	38	7	net	net	ADJ
fbem-21419	38	8	profit	profit	NOUN
fbem-21419	38	9	rate	rate	NOUN
fbem-21419	38	10	on	on	ADP
fbem-21419	38	11	sales	sale	NOUN
fbem-21419	38	12	is	be	AUX
fbem-21419	38	13	excellent	excellent	ADJ
fbem-21419	38	14	,	,	PUNCT
fbem-21419	38	15	and	and	CCONJ
fbem-21419	38	16	it	it	PRON
fbem-21419	38	17	has	have	VERB
fbem-21419	38	18	a	a	DET
fbem-21419	38	19	stable	stable	ADJ
fbem-21419	38	20	leading	lead	VERB
fbem-21419	38	21	position	position	NOUN
fbem-21419	38	22	in	in	ADP
fbem-21419	38	23	the	the	DET
fbem-21419	38	24	similar	similar	ADJ
fbem-21419	38	25	high	high	ADJ
fbem-21419	38	26	-	-	PUNCT
fbem-21419	38	27	end	end	NOUN
fbem-21419	38	28	liquor	liquor	NOUN
fbem-21419	38	29	industry	industry	NOUN
fbem-21419	38	30	.	.	PUNCT
fbem-21419	39	1	kweichow	kweichow	PROPN
fbem-21419	39	2	moutai	moutai	PROPN
fbem-21419	39	3	's	's	PART
fbem-21419	39	4	return	return	NOUN
fbem-21419	39	5	on	on	ADP
fbem-21419	39	6	equity	equity	NOUN
fbem-21419	39	7	from	from	ADP
fbem-21419	39	8	2019	2019	NUM
fbem-21419	39	9	to	to	ADP
fbem-21419	39	10	2023	2023	NUM
fbem-21419	39	11	remains	remain	VERB
fbem-21419	39	12	above	above	ADP
fbem-21419	39	13	29	29	NUM
fbem-21419	39	14	%	%	NOUN
fbem-21419	39	15	,	,	PUNCT
fbem-21419	39	16	with	with	ADP
fbem-21419	39	17	an	an	DET
fbem-21419	39	18	average	average	NOUN
fbem-21419	39	19	of	of	ADP
fbem-21419	39	20	31.77	31.77	NUM
fbem-21419	39	21	%	%	NOUN
fbem-21419	39	22	,	,	PUNCT
fbem-21419	39	23	which	which	PRON
fbem-21419	39	24	is	be	AUX
fbem-21419	39	25	a	a	DET
fbem-21419	39	26	very	very	ADV
fbem-21419	39	27	high	high	ADJ
fbem-21419	39	28	level	level	NOUN
fbem-21419	39	29	,	,	PUNCT
fbem-21419	39	30	showing	show	VERB
fbem-21419	39	31	that	that	SCONJ
fbem-21419	39	32	the	the	DET
fbem-21419	39	33	company	company	NOUN
fbem-21419	39	34	has	have	AUX
fbem-21419	39	35	achieved	achieve	VERB
fbem-21419	39	36	a	a	DET
fbem-21419	39	37	good	good	ADJ
fbem-21419	39	38	return	return	NOUN
fbem-21419	39	39	on	on	ADP
fbem-21419	39	40	capital	capital	NOUN
fbem-21419	39	41	by	by	ADP
fbem-21419	39	42	virtue	virtue	NOUN
fbem-21419	39	43	of	of	ADP
fbem-21419	39	44	its	its	PRON
fbem-21419	39	45	brand	brand	NOUN
fbem-21419	39	46	influence	influence	NOUN
fbem-21419	39	47	,	,	PUNCT
fbem-21419	39	48	product	product	NOUN
fbem-21419	39	49	structure	structure	NOUN
fbem-21419	39	50	,	,	PUNCT
fbem-21419	39	51	cost	cost	NOUN
fbem-21419	39	52	control	control	NOUN
fbem-21419	39	53	and	and	CCONJ
fbem-21419	39	54	other	other	ADJ
fbem-21419	39	55	advantages	advantage	NOUN
fbem-21419	39	56	.	.	PUNCT
fbem-21419	40	1	when	when	SCONJ
fbem-21419	40	2	analyzing	analyze	VERB
fbem-21419	40	3	kweichow	kweichow	PROPN
fbem-21419	40	4	moutai	moutai	PROPN
fbem-21419	40	5	's	's	PART
fbem-21419	40	6	return	return	NOUN
fbem-21419	40	7	on	on	ADP
fbem-21419	40	8	total	total	ADJ
fbem-21419	40	9	assets	asset	NOUN
fbem-21419	40	10	,	,	PUNCT
fbem-21419	40	11	the	the	DET
fbem-21419	40	12	value	value	NOUN
fbem-21419	40	13	reached	reach	VERB
fbem-21419	40	14	a	a	DET
fbem-21419	40	15	peak	peak	NOUN
fbem-21419	40	16	of	of	ADP
fbem-21419	40	17	38.60	38.60	NUM
fbem-21419	40	18	%	%	NOUN
fbem-21419	40	19	in	in	ADP
fbem-21419	40	20	2023	2023	NUM
fbem-21419	40	21	,	,	PUNCT
fbem-21419	40	22	while	while	SCONJ
fbem-21419	40	23	the	the	DET
fbem-21419	40	24	lowest	low	ADJ
fbem-21419	40	25	value	value	NOUN
fbem-21419	40	26	was	be	AUX
fbem-21419	40	27	31.41	31.41	NUM
fbem-21419	40	28	%	%	NOUN
fbem-21419	40	29	in	in	ADP
fbem-21419	40	30	2021	2021	NUM
fbem-21419	40	31	.	.	PUNCT
fbem-21419	41	1	delve	delve	VERB
fbem-21419	41	2	deeper	deeply	ADV
fbem-21419	41	3	into	into	ADP
fbem-21419	41	4	the	the	DET
fbem-21419	41	5	reasons	reason	NOUN
fbem-21419	41	6	behind	behind	ADP
fbem-21419	41	7	this	this	DET
fbem-21419	41	8	significant	significant	ADJ
fbem-21419	41	9	change	change	NOUN
fbem-21419	41	10	in	in	ADP
fbem-21419	41	11	2021	2021	NUM
fbem-21419	41	12	,	,	PUNCT
fbem-21419	41	13	the	the	DET
fbem-21419	41	14	profound	profound	ADJ
fbem-21419	41	15	impact	impact	NOUN
fbem-21419	41	16	of	of	ADP
fbem-21419	41	17	the	the	DET
fbem-21419	41	18	novel	novel	ADJ
fbem-21419	41	19	coronavirus	coronavirus	NOUN
fbem-21419	41	20	epidemic	epidemic	NOUN
fbem-21419	41	21	on	on	ADP
fbem-21419	41	22	global	global	ADJ
fbem-21419	41	23	economic	economic	ADJ
fbem-21419	41	24	activities	activity	NOUN
fbem-21419	41	25	,	,	PUNCT
fbem-21419	41	26	the	the	DET
fbem-21419	41	27	sharp	sharp	ADJ
fbem-21419	41	28	contraction	contraction	NOUN
fbem-21419	41	29	of	of	ADP
fbem-21419	41	30	consumer	consumer	NOUN
fbem-21419	41	31	spending	spending	NOUN
fbem-21419	41	32	and	and	CCONJ
fbem-21419	41	33	the	the	DET
fbem-21419	41	34	weakening	weakening	NOUN
fbem-21419	41	35	of	of	ADP
fbem-21419	41	36	overall	overall	ADJ
fbem-21419	41	37	consumer	consumer	NOUN
fbem-21419	41	38	demand	demand	NOUN
fbem-21419	41	39	,	,	PUNCT
fbem-21419	41	40	which	which	PRON
fbem-21419	41	41	has	have	AUX
fbem-21419	41	42	had	have	VERB
fbem-21419	41	43	a	a	DET
fbem-21419	41	44	negative	negative	ADJ
fbem-21419	41	45	impact	impact	NOUN
fbem-21419	41	46	on	on	ADP
fbem-21419	41	47	many	many	ADJ
fbem-21419	41	48	enterprises	enterprise	NOUN
fbem-21419	41	49	,	,	PUNCT
fbem-21419	41	50	including	include	VERB
fbem-21419	41	51	kweichow	kweichow	PROPN
fbem-21419	41	52	moutai	moutai	NOUN
fbem-21419	41	53	,	,	PUNCT
fbem-21419	41	54	and	and	CCONJ
fbem-21419	41	55	directly	directly	ADV
fbem-21419	41	56	affect	affect	VERB
fbem-21419	41	57	the	the	DET
fbem-21419	41	58	performance	performance	NOUN
fbem-21419	41	59	of	of	ADP
fbem-21419	41	60	their	their	PRON
fbem-21419	41	61	total	total	ADJ
fbem-21419	41	62	return	return	NOUN
fbem-21419	41	63	on	on	ADP
fbem-21419	41	64	assets	asset	NOUN
fbem-21419	41	65	in	in	ADP
fbem-21419	41	66	2021	2021	NUM
fbem-21419	41	67	.	.	PUNCT
fbem-21419	42	1	2.2.3	2.2.3	NUM
fbem-21419	42	2	.	.	PUNCT
fbem-21419	42	3	operational	operational	ADJ
fbem-21419	42	4	capacity	capacity	NOUN
fbem-21419	42	5	analysis	analysis	NOUN
fbem-21419	42	6	table	table	NOUN
fbem-21419	42	7	3	3	X
fbem-21419	42	8	.	.	PUNCT
fbem-21419	43	1	kweichow	kweichow	PROPN
fbem-21419	43	2	moutai	moutai	PROPN
fbem-21419	43	3	's	's	PART
fbem-21419	43	4	operating	operating	NOUN
fbem-21419	43	5	capacity	capacity	NOUN
fbem-21419	43	6	in	in	ADP
fbem-21419	43	7	2019	2019	NUM
fbem-21419	43	8	-	-	SYM
fbem-21419	43	9	2023	2023	NUM
fbem-21419	43	10	time	time	NOUN
fbem-21419	43	11	2019	2019	NUM
fbem-21419	43	12	2020	2020	NUM
fbem-21419	43	13	2021	2021	NUM
fbem-21419	43	14	2022	2022	NUM
fbem-21419	43	15	2023	2023	NUM
fbem-21419	43	16	inventory	inventory	NOUN
fbem-21419	43	17	turnover	turnover	NOUN
fbem-21419	43	18	0.30	0.30	NUM
fbem-21419	43	19	0.30	0.30	NUM
fbem-21419	43	20	0.29	0.29	NUM
fbem-21419	43	21	0.28	0.28	NUM
fbem-21419	43	22	0.28	0.28	NUM
fbem-21419	43	23	accounts	account	NOUN
fbem-21419	43	24	payable	payable	ADJ
fbem-21419	43	25	turnover	turnover	NOUN
fbem-21419	43	26	ratio	ratio	NOUN
fbem-21419	43	27	5.52	5.52	NUM
fbem-21419	43	28	5.71	5.71	NUM
fbem-21419	43	29	5.36	5.36	NUM
fbem-21419	43	30	4.57	4.57	NUM
fbem-21419	43	31	4.31	4.31	NUM
fbem-21419	43	32	inventory	inventory	NOUN
fbem-21419	43	33	turnover	turnover	NOUN
fbem-21419	43	34	rate	rate	NOUN
fbem-21419	43	35	is	be	AUX
fbem-21419	43	36	used	use	VERB
fbem-21419	43	37	to	to	PART
fbem-21419	43	38	evaluate	evaluate	VERB
fbem-21419	43	39	the	the	DET
fbem-21419	43	40	inventory	inventory	NOUN
fbem-21419	43	41	management	management	NOUN
fbem-21419	43	42	effect	effect	NOUN
fbem-21419	43	43	and	and	CCONJ
fbem-21419	43	44	operation	operation	NOUN
fbem-21419	43	45	efficiency	efficiency	NOUN
fbem-21419	43	46	of	of	ADP
fbem-21419	43	47	an	an	DET
fbem-21419	43	48	enterprise	enterprise	NOUN
fbem-21419	43	49	.	.	PUNCT
fbem-21419	44	1	it	it	PRON
fbem-21419	44	2	mainly	mainly	ADV
fbem-21419	44	3	measures	measure	VERB
fbem-21419	44	4	the	the	DET
fbem-21419	44	5	rate	rate	NOUN
fbem-21419	44	6	at	at	ADP
fbem-21419	44	7	which	which	PRON
fbem-21419	44	8	inventory	inventory	NOUN
fbem-21419	44	9	is	be	AUX
fbem-21419	44	10	converted	convert	VERB
fbem-21419	44	11	into	into	ADP
fbem-21419	44	12	cost	cost	NOUN
fbem-21419	44	13	of	of	ADP
fbem-21419	44	14	goods	good	NOUN
fbem-21419	44	15	sold	sell	VERB
fbem-21419	44	16	in	in	ADP
fbem-21419	44	17	a	a	DET
fbem-21419	44	18	given	give	VERB
fbem-21419	44	19	period	period	NOUN
fbem-21419	44	20	of	of	ADP
fbem-21419	44	21	time	time	NOUN
fbem-21419	44	22	,	,	PUNCT
fbem-21419	44	23	which	which	PRON
fbem-21419	44	24	can	can	AUX
fbem-21419	44	25	be	be	AUX
fbem-21419	44	26	reflected	reflect	VERB
fbem-21419	44	27	by	by	ADP
fbem-21419	44	28	the	the	DET
fbem-21419	44	29	number	number	NOUN
fbem-21419	44	30	of	of	ADP
fbem-21419	44	31	times	time	NOUN
fbem-21419	44	32	the	the	DET
fbem-21419	44	33	inventory	inventory	NOUN
fbem-21419	44	34	is	be	AUX
fbem-21419	44	35	turned	turn	VERB
fbem-21419	44	36	around	around	ADV
fbem-21419	44	37	or	or	CCONJ
fbem-21419	44	38	the	the	DET
fbem-21419	44	39	number	number	NOUN
fbem-21419	44	40	of	of	ADP
fbem-21419	44	41	days	day	NOUN
fbem-21419	44	42	it	it	PRON
fbem-21419	44	43	takes	take	VERB
fbem-21419	44	44	.	.	PUNCT
fbem-21419	45	1	when	when	SCONJ
fbem-21419	45	2	the	the	DET
fbem-21419	45	3	inventory	inventory	NOUN
fbem-21419	45	4	turnover	turnover	NOUN
fbem-21419	45	5	rate	rate	NOUN
fbem-21419	45	6	increases	increase	NOUN
fbem-21419	45	7	,	,	PUNCT
fbem-21419	45	8	it	it	PRON
fbem-21419	45	9	usually	usually	ADV
fbem-21419	45	10	indicates	indicate	VERB
fbem-21419	45	11	that	that	SCONJ
fbem-21419	45	12	the	the	DET
fbem-21419	45	13	inventory	inventory	NOUN
fbem-21419	45	14	of	of	ADP
fbem-21419	45	15	the	the	DET
fbem-21419	45	16	enterprise	enterprise	NOUN
fbem-21419	45	17	can	can	AUX
fbem-21419	45	18	be	be	AUX
fbem-21419	45	19	converted	convert	VERB
fbem-21419	45	20	into	into	ADP
fbem-21419	45	21	cash	cash	NOUN
fbem-21419	45	22	more	more	ADV
fbem-21419	45	23	quickly	quickly	ADV
fbem-21419	45	24	,	,	PUNCT
fbem-21419	45	25	thus	thus	ADV
fbem-21419	45	26	improving	improve	VERB
fbem-21419	45	27	the	the	DET
fbem-21419	45	28	flow	flow	NOUN
fbem-21419	45	29	efficiency	efficiency	NOUN
fbem-21419	45	30	of	of	ADP
fbem-21419	45	31	inventory	inventory	NOUN
fbem-21419	45	32	funds	fund	NOUN
fbem-21419	45	33	.	.	PUNCT
fbem-21419	46	1	as	as	SCONJ
fbem-21419	46	2	can	can	AUX
fbem-21419	46	3	be	be	AUX
fbem-21419	46	4	seen	see	VERB
fbem-21419	46	5	from	from	ADP
fbem-21419	46	6	table	table	NOUN
fbem-21419	46	7	3	3	NUM
fbem-21419	46	8	,	,	PUNCT
fbem-21419	46	9	the	the	DET
fbem-21419	46	10	inventory	inventory	NOUN
fbem-21419	46	11	turnover	turnover	NOUN
fbem-21419	46	12	ratio	ratio	NOUN
fbem-21419	46	13	of	of	ADP
fbem-21419	46	14	kweichow	kweichow	PROPN
fbem-21419	46	15	moutai	moutai	NOUN
fbem-21419	46	16	in	in	ADP
fbem-21419	46	17	2019	2019	NUM
fbem-21419	46	18	-	-	SYM
fbem-21419	46	19	2023	2023	NUM
fbem-21419	46	20	is	be	AUX
fbem-21419	46	21	maintained	maintain	VERB
fbem-21419	46	22	at	at	ADP
fbem-21419	46	23	about	about	ADP
fbem-21419	46	24	0.3	0.3	NUM
fbem-21419	46	25	.	.	PUNCT
fbem-21419	47	1	for	for	ADP
fbem-21419	47	2	kweichow	kweichow	PROPN
fbem-21419	47	3	moutai	moutai	PROPN
fbem-21419	47	4	,	,	PUNCT
fbem-21419	47	5	a	a	DET
fbem-21419	47	6	special	special	ADJ
fbem-21419	47	7	high	high	ADJ
fbem-21419	47	8	-	-	PUNCT
fbem-21419	47	9	end	end	NOUN
fbem-21419	47	10	liquor	liquor	NOUN
fbem-21419	47	11	manufacturer	manufacturer	NOUN
fbem-21419	47	12	,	,	PUNCT
fbem-21419	47	13	its	its	PRON
fbem-21419	47	14	142	142	NUM
fbem-21419	47	15	inventory	inventory	NOUN
fbem-21419	47	16	turnover	turnover	NOUN
fbem-21419	47	17	ratio	ratio	NOUN
fbem-21419	47	18	has	have	AUX
fbem-21419	47	19	been	be	AUX
fbem-21419	47	20	maintained	maintain	VERB
fbem-21419	47	21	at	at	ADP
fbem-21419	47	22	a	a	DET
fbem-21419	47	23	relatively	relatively	ADV
fbem-21419	47	24	low	low	ADJ
fbem-21419	47	25	level	level	NOUN
fbem-21419	47	26	for	for	ADP
fbem-21419	47	27	a	a	DET
fbem-21419	47	28	long	long	ADJ
fbem-21419	47	29	time	time	NOUN
fbem-21419	47	30	,	,	PUNCT
fbem-21419	47	31	which	which	PRON
fbem-21419	47	32	is	be	AUX
fbem-21419	47	33	lower	low	ADJ
fbem-21419	47	34	than	than	ADP
fbem-21419	47	35	that	that	PRON
fbem-21419	47	36	of	of	ADP
fbem-21419	47	37	general	general	ADJ
fbem-21419	47	38	manufacturing	manufacturing	NOUN
fbem-21419	47	39	enterprises	enterprise	NOUN
fbem-21419	47	40	or	or	CCONJ
fbem-21419	47	41	fmcg	fmcg	NOUN
fbem-21419	47	42	industries	industry	NOUN
fbem-21419	47	43	.	.	PUNCT
fbem-21419	48	1	however	however	ADV
fbem-21419	48	2	,	,	PUNCT
fbem-21419	48	3	it	it	PRON
fbem-21419	48	4	can	can	AUX
fbem-21419	48	5	not	not	PART
fbem-21419	48	6	be	be	AUX
fbem-21419	48	7	directly	directly	ADV
fbem-21419	48	8	interpreted	interpret	VERB
fbem-21419	48	9	as	as	ADP
fbem-21419	48	10	low	low	ADJ
fbem-21419	48	11	efficiency	efficiency	NOUN
fbem-21419	48	12	of	of	ADP
fbem-21419	48	13	inventory	inventory	NOUN
fbem-21419	48	14	management	management	NOUN
fbem-21419	48	15	or	or	CCONJ
fbem-21419	48	16	poor	poor	ADJ
fbem-21419	48	17	turnover	turnover	NOUN
fbem-21419	48	18	of	of	ADP
fbem-21419	48	19	kweichow	kweichow	PROPN
fbem-21419	48	20	moutai	moutai	PROPN
fbem-21419	48	21	.	.	PUNCT
fbem-21419	49	1	although	although	SCONJ
fbem-21419	49	2	on	on	ADP
fbem-21419	49	3	the	the	DET
fbem-21419	49	4	surface	surface	NOUN
fbem-21419	49	5	,	,	PUNCT
fbem-21419	49	6	kweichow	kweichow	PROPN
fbem-21419	49	7	moutai	moutai	PROPN
fbem-21419	49	8	's	's	PART
fbem-21419	49	9	inventory	inventory	NOUN
fbem-21419	49	10	turnover	turnover	NOUN
fbem-21419	49	11	rate	rate	NOUN
fbem-21419	49	12	is	be	AUX
fbem-21419	49	13	not	not	PART
fbem-21419	49	14	high	high	ADJ
fbem-21419	49	15	,	,	PUNCT
fbem-21419	49	16	it	it	PRON
fbem-21419	49	17	is	be	AUX
fbem-21419	49	18	precisely	precisely	ADV
fbem-21419	49	19	in	in	ADP
fbem-21419	49	20	line	line	NOUN
fbem-21419	49	21	with	with	ADP
fbem-21419	49	22	its	its	PRON
fbem-21419	49	23	industry	industry	NOUN
fbem-21419	49	24	characteristics	characteristic	NOUN
fbem-21419	49	25	and	and	CCONJ
fbem-21419	49	26	business	business	NOUN
fbem-21419	49	27	model	model	NOUN
fbem-21419	49	28	,	,	PUNCT
fbem-21419	49	29	and	and	CCONJ
fbem-21419	49	30	does	do	AUX
fbem-21419	49	31	not	not	PART
fbem-21419	49	32	mean	mean	VERB
fbem-21419	49	33	that	that	SCONJ
fbem-21419	49	34	its	its	PRON
fbem-21419	49	35	inventory	inventory	NOUN
fbem-21419	49	36	management	management	NOUN
fbem-21419	49	37	problems	problem	NOUN
fbem-21419	49	38	or	or	CCONJ
fbem-21419	49	39	turnover	turnover	NOUN
fbem-21419	49	40	capacity	capacity	NOUN
fbem-21419	49	41	is	be	AUX
fbem-21419	49	42	weak	weak	ADJ
fbem-21419	49	43	.	.	PUNCT
fbem-21419	50	1	on	on	ADP
fbem-21419	50	2	the	the	DET
fbem-21419	50	3	contrary	contrary	NOUN
fbem-21419	50	4	,	,	PUNCT
fbem-21419	50	5	with	with	ADP
fbem-21419	50	6	the	the	DET
fbem-21419	50	7	help	help	NOUN
fbem-21419	50	8	of	of	ADP
fbem-21419	50	9	refined	refined	ADJ
fbem-21419	50	10	inventory	inventory	NOUN
fbem-21419	50	11	management	management	NOUN
fbem-21419	50	12	and	and	CCONJ
fbem-21419	50	13	strategic	strategic	ADJ
fbem-21419	50	14	storage	storage	NOUN
fbem-21419	50	15	strategies	strategy	NOUN
fbem-21419	50	16	,	,	PUNCT
fbem-21419	50	17	moutai	moutai	NOUN
fbem-21419	50	18	successfully	successfully	ADV
fbem-21419	50	19	coordinated	coordinate	VERB
fbem-21419	50	20	the	the	DET
fbem-21419	50	21	dynamic	dynamic	ADJ
fbem-21419	50	22	balance	balance	NOUN
fbem-21419	50	23	between	between	ADP
fbem-21419	50	24	inventory	inventory	NOUN
fbem-21419	50	25	scale	scale	NOUN
fbem-21419	50	26	and	and	CCONJ
fbem-21419	50	27	market	market	NOUN
fbem-21419	50	28	demand	demand	NOUN
fbem-21419	50	29	,	,	PUNCT
fbem-21419	50	30	thus	thus	ADV
fbem-21419	50	31	effectively	effectively	ADV
fbem-21419	50	32	guaranteeing	guarantee	VERB
fbem-21419	50	33	the	the	DET
fbem-21419	50	34	persistence	persistence	NOUN
fbem-21419	50	35	of	of	ADP
fbem-21419	50	36	corporate	corporate	ADJ
fbem-21419	50	37	profitability	profitability	NOUN
fbem-21419	50	38	and	and	CCONJ
fbem-21419	50	39	the	the	DET
fbem-21419	50	40	dominant	dominant	ADJ
fbem-21419	50	41	position	position	NOUN
fbem-21419	50	42	in	in	ADP
fbem-21419	50	43	market	market	NOUN
fbem-21419	50	44	competition	competition	NOUN
fbem-21419	50	45	.	.	PUNCT
fbem-21419	51	1	kweichow	kweichow	PROPN
fbem-21419	51	2	moutai	moutai	PROPN
fbem-21419	51	3	's	's	PART
fbem-21419	51	4	accounts	account	NOUN
fbem-21419	51	5	payable	payable	ADJ
fbem-21419	51	6	turnover	turnover	NOUN
fbem-21419	51	7	in	in	ADP
fbem-21419	51	8	the	the	DET
fbem-21419	51	9	past	past	ADJ
fbem-21419	51	10	five	five	NUM
fbem-21419	51	11	years	year	NOUN
fbem-21419	51	12	has	have	AUX
fbem-21419	51	13	basically	basically	ADV
fbem-21419	51	14	remained	remain	VERB
fbem-21419	51	15	within	within	ADP
fbem-21419	51	16	the	the	DET
fbem-21419	51	17	small	small	ADJ
fbem-21419	51	18	range	range	NOUN
fbem-21419	51	19	of	of	ADP
fbem-21419	51	20	4	4	NUM
fbem-21419	51	21	to	to	PART
fbem-21419	51	22	5	5	NUM
fbem-21419	51	23	changes	change	NOUN
fbem-21419	51	24	.	.	PUNCT
fbem-21419	52	1	this	this	DET
fbem-21419	52	2	data	datum	NOUN
fbem-21419	52	3	fully	fully	ADV
fbem-21419	52	4	demonstrates	demonstrate	VERB
fbem-21419	52	5	the	the	DET
fbem-21419	52	6	company	company	NOUN
fbem-21419	52	7	's	's	PART
fbem-21419	52	8	leadership	leadership	NOUN
fbem-21419	52	9	position	position	NOUN
fbem-21419	52	10	in	in	ADP
fbem-21419	52	11	the	the	DET
fbem-21419	52	12	market	market	NOUN
fbem-21419	52	13	and	and	CCONJ
fbem-21419	52	14	its	its	PRON
fbem-21419	52	15	excellent	excellent	ADJ
fbem-21419	52	16	business	business	NOUN
fbem-21419	52	17	reputation	reputation	NOUN
fbem-21419	52	18	,	,	PUNCT
fbem-21419	52	19	which	which	PRON
fbem-21419	52	20	further	far	ADV
fbem-21419	52	21	proves	prove	VERB
fbem-21419	52	22	its	its	PRON
fbem-21419	52	23	excellent	excellent	ADJ
fbem-21419	52	24	bargaining	bargaining	NOUN
fbem-21419	52	25	power	power	NOUN
fbem-21419	52	26	with	with	ADP
fbem-21419	52	27	upstream	upstream	ADJ
fbem-21419	52	28	suppliers	supplier	NOUN
fbem-21419	52	29	,	,	PUNCT
fbem-21419	52	30	enabling	enable	VERB
fbem-21419	52	31	the	the	DET
fbem-21419	52	32	company	company	NOUN
fbem-21419	52	33	to	to	PART
fbem-21419	52	34	take	take	VERB
fbem-21419	52	35	the	the	DET
fbem-21419	52	36	initiative	initiative	NOUN
fbem-21419	52	37	in	in	ADP
fbem-21419	52	38	the	the	DET
fbem-21419	52	39	management	management	NOUN
fbem-21419	52	40	of	of	ADP
fbem-21419	52	41	accounts	account	NOUN
fbem-21419	52	42	payable	payable	ADJ
fbem-21419	52	43	and	and	CCONJ
fbem-21419	52	44	make	make	VERB
fbem-21419	52	45	efficient	efficient	ADJ
fbem-21419	52	46	use	use	NOUN
fbem-21419	52	47	of	of	ADP
fbem-21419	52	48	funds	fund	NOUN
fbem-21419	52	49	.	.	PUNCT
fbem-21419	53	1	2.2.4	2.2.4	NUM
fbem-21419	53	2	.	.	PUNCT
fbem-21419	53	3	development	development	NOUN
fbem-21419	53	4	ability	ability	NOUN
fbem-21419	53	5	analysis	analysis	NOUN
fbem-21419	53	6	table	table	NOUN
fbem-21419	53	7	4	4	NUM
fbem-21419	53	8	.	.	PUNCT
fbem-21419	54	1	kweichow	kweichow	PROPN
fbem-21419	54	2	moutai	moutai	VERB
fbem-21419	54	3	development	development	NOUN
fbem-21419	54	4	capacity	capacity	NOUN
fbem-21419	54	5	from	from	ADP
fbem-21419	54	6	2019	2019	NUM
fbem-21419	54	7	to	to	ADP
fbem-21419	54	8	2023	2023	NUM
fbem-21419	54	9	time	time	NOUN
fbem-21419	54	10	2019	2019	NUM
fbem-21419	54	11	2020	2020	NUM
fbem-21419	54	12	2021	2021	NUM
fbem-21419	54	13	2022	2022	NUM
fbem-21419	54	14	2023	2023	NUM
fbem-21419	54	15	net	net	ADJ
fbem-21419	54	16	profit	profit	NOUN
fbem-21419	54	17	growth	growth	NOUN
fbem-21419	54	18	rate	rate	NOUN
fbem-21419	54	19	16.23	16.23	NUM
fbem-21419	54	20	%	%	NOUN
fbem-21419	54	21	12.63	12.63	NUM
fbem-21419	54	22	%	%	NOUN
fbem-21419	54	23	12.51	12.51	NUM
fbem-21419	54	24	%	%	NOUN
fbem-21419	54	25	17.33	17.33	NUM
fbem-21419	54	26	%	%	NOUN
fbem-21419	54	27	18.58	18.58	NUM
fbem-21419	54	28	%	%	NOUN
fbem-21419	54	29	revenue	revenue	NOUN
fbem-21419	54	30	growth	growth	NOUN
fbem-21419	54	31	rate	rate	NOUN
fbem-21419	54	32	16.01	16.01	NUM
fbem-21419	54	33	%	%	NOUN
fbem-21419	54	34	11.10	11.10	NUM
fbem-21419	54	35	%	%	NOUN
fbem-21419	54	36	11.88	11.88	NUM
fbem-21419	54	37	%	%	NOUN
fbem-21419	54	38	16.87	16.87	NUM
fbem-21419	54	39	%	%	NOUN
fbem-21419	54	40	19.01	19.01	NUM
fbem-21419	54	41	%	%	NOUN
fbem-21419	54	42	growth	growth	NOUN
fbem-21419	54	43	rate	rate	NOUN
fbem-21419	54	44	of	of	ADP
fbem-21419	54	45	total	total	ADJ
fbem-21419	54	46	assets	asset	NOUN
fbem-21419	54	47	14.51	14.51	NUM
fbem-21419	54	48	%	%	NOUN
fbem-21419	54	49	16.58	16.58	NUM
fbem-21419	54	50	%	%	NOUN
fbem-21419	54	51	19.58	19.58	NUM
fbem-21419	54	52	%	%	NOUN
fbem-21419	54	53	-0.31	-0.31	NUM
fbem-21419	54	54	%	%	NOUN
fbem-21419	54	55	7.15	7.15	NUM
fbem-21419	54	56	%	%	NOUN
fbem-21419	54	57	under	under	ADP
fbem-21419	54	58	normal	normal	ADJ
fbem-21419	54	59	circumstances	circumstance	NOUN
fbem-21419	54	60	,	,	PUNCT
fbem-21419	54	61	enterprises	enterprise	NOUN
fbem-21419	54	62	are	be	AUX
fbem-21419	54	63	in	in	ADP
fbem-21419	54	64	a	a	DET
fbem-21419	54	65	mature	mature	ADJ
fbem-21419	54	66	stage	stage	NOUN
fbem-21419	54	67	of	of	ADP
fbem-21419	54	68	development	development	NOUN
fbem-21419	54	69	,	,	PUNCT
fbem-21419	54	70	and	and	CCONJ
fbem-21419	54	71	the	the	DET
fbem-21419	54	72	profit	profit	NOUN
fbem-21419	54	73	growth	growth	NOUN
fbem-21419	54	74	rate	rate	NOUN
fbem-21419	54	75	of	of	ADP
fbem-21419	54	76	enterprises	enterprise	NOUN
fbem-21419	54	77	tends	tend	VERB
fbem-21419	54	78	to	to	PART
fbem-21419	54	79	slow	slow	VERB
fbem-21419	54	80	down	down	ADP
fbem-21419	54	81	to	to	ADP
fbem-21419	54	82	a	a	DET
fbem-21419	54	83	certain	certain	ADJ
fbem-21419	54	84	extent	extent	NOUN
fbem-21419	54	85	.	.	PUNCT
fbem-21419	55	1	as	as	SCONJ
fbem-21419	55	2	can	can	AUX
fbem-21419	55	3	be	be	AUX
fbem-21419	55	4	seen	see	VERB
fbem-21419	55	5	from	from	ADP
fbem-21419	55	6	table	table	NOUN
fbem-21419	55	7	4	4	NUM
fbem-21419	55	8	,	,	PUNCT
fbem-21419	55	9	the	the	DET
fbem-21419	55	10	net	net	ADJ
fbem-21419	55	11	profit	profit	NOUN
fbem-21419	55	12	growth	growth	NOUN
fbem-21419	55	13	rate	rate	NOUN
fbem-21419	55	14	of	of	ADP
fbem-21419	55	15	kweichow	kweichow	PROPN
fbem-21419	55	16	moutai	moutai	NOUN
fbem-21419	55	17	in	in	ADP
fbem-21419	55	18	the	the	DET
fbem-21419	55	19	past	past	ADJ
fbem-21419	55	20	five	five	NUM
fbem-21419	55	21	years	year	NOUN
fbem-21419	55	22	has	have	AUX
fbem-21419	55	23	generally	generally	ADV
fbem-21419	55	24	maintained	maintain	VERB
fbem-21419	55	25	an	an	DET
fbem-21419	55	26	upward	upward	ADJ
fbem-21419	55	27	trend	trend	NOUN
fbem-21419	55	28	,	,	PUNCT
fbem-21419	55	29	from	from	ADP
fbem-21419	55	30	16.23	16.23	NUM
fbem-21419	55	31	%	%	NOUN
fbem-21419	55	32	in	in	ADP
fbem-21419	55	33	2019	2019	NUM
fbem-21419	55	34	to	to	ADP
fbem-21419	55	35	18.58	18.58	NUM
fbem-21419	55	36	%	%	NOUN
fbem-21419	55	37	in	in	ADP
fbem-21419	55	38	2023	2023	NUM
fbem-21419	55	39	,	,	PUNCT
fbem-21419	55	40	indicating	indicate	VERB
fbem-21419	55	41	that	that	SCONJ
fbem-21419	55	42	kweichow	kweichow	PROPN
fbem-21419	55	43	moutai	moutai	NOUN
fbem-21419	55	44	has	have	VERB
fbem-21419	55	45	strong	strong	ADJ
fbem-21419	55	46	profitability	profitability	NOUN
fbem-21419	55	47	and	and	CCONJ
fbem-21419	55	48	good	good	ADJ
fbem-21419	55	49	development	development	NOUN
fbem-21419	55	50	prospects	prospect	NOUN
fbem-21419	55	51	.	.	PUNCT
fbem-21419	56	1	kweichow	kweichow	PROPN
fbem-21419	56	2	moutai	moutai	PROPN
fbem-21419	56	3	's	's	PART
fbem-21419	56	4	operating	operate	VERB
fbem-21419	56	5	income	income	NOUN
fbem-21419	56	6	growth	growth	NOUN
fbem-21419	56	7	rate	rate	NOUN
fbem-21419	56	8	from	from	ADP
fbem-21419	56	9	2019	2019	NUM
fbem-21419	56	10	to	to	ADP
fbem-21419	56	11	2023	2023	NUM
fbem-21419	56	12	is	be	AUX
fbem-21419	56	13	maintained	maintain	VERB
fbem-21419	56	14	at	at	ADP
fbem-21419	56	15	more	more	ADJ
fbem-21419	56	16	than	than	ADP
fbem-21419	56	17	10	10	NUM
fbem-21419	56	18	%	%	NOUN
fbem-21419	56	19	.	.	PUNCT
fbem-21419	57	1	for	for	ADP
fbem-21419	57	2	such	such	DET
fbem-21419	57	3	an	an	DET
fbem-21419	57	4	enterprise	enterprise	NOUN
fbem-21419	57	5	that	that	PRON
fbem-21419	57	6	has	have	AUX
fbem-21419	57	7	entered	enter	VERB
fbem-21419	57	8	the	the	DET
fbem-21419	57	9	mature	mature	ADJ
fbem-21419	57	10	stage	stage	NOUN
fbem-21419	57	11	of	of	ADP
fbem-21419	57	12	development	development	NOUN
fbem-21419	57	13	,	,	PUNCT
fbem-21419	57	14	we	we	PRON
fbem-21419	57	15	can	can	AUX
fbem-21419	57	16	reasonably	reasonably	ADV
fbem-21419	57	17	speculate	speculate	VERB
fbem-21419	57	18	that	that	SCONJ
fbem-21419	57	19	its	its	PRON
fbem-21419	57	20	future	future	ADJ
fbem-21419	57	21	development	development	NOUN
fbem-21419	57	22	trend	trend	NOUN
fbem-21419	57	23	still	still	ADV
fbem-21419	57	24	maintains	maintain	VERB
fbem-21419	57	25	enough	enough	ADJ
fbem-21419	57	26	positive	positive	ADJ
fbem-21419	57	27	trends	trend	NOUN
fbem-21419	57	28	.	.	PUNCT
fbem-21419	58	1	special	special	ADJ
fbem-21419	58	2	attention	attention	NOUN
fbem-21419	58	3	should	should	AUX
fbem-21419	58	4	be	be	AUX
fbem-21419	58	5	paid	pay	VERB
fbem-21419	58	6	to	to	ADP
fbem-21419	58	7	examining	examine	VERB
fbem-21419	58	8	how	how	SCONJ
fbem-21419	58	9	the	the	DET
fbem-21419	58	10	company	company	NOUN
fbem-21419	58	11	achieves	achieve	VERB
fbem-21419	58	12	sustainable	sustainable	ADJ
fbem-21419	58	13	growth	growth	NOUN
fbem-21419	58	14	drivers	driver	NOUN
fbem-21419	58	15	,	,	PUNCT
fbem-21419	58	16	which	which	PRON
fbem-21419	58	17	is	be	AUX
fbem-21419	58	18	crucial	crucial	ADJ
fbem-21419	58	19	to	to	ADP
fbem-21419	58	20	assessing	assess	VERB
fbem-21419	58	21	its	its	PRON
fbem-21419	58	22	long	long	ADJ
fbem-21419	58	23	-	-	PUNCT
fbem-21419	58	24	term	term	NOUN
fbem-21419	58	25	future	future	ADJ
fbem-21419	58	26	prospects	prospect	NOUN
fbem-21419	58	27	.	.	PUNCT
fbem-21419	59	1	in	in	ADP
fbem-21419	59	2	addition	addition	NOUN
fbem-21419	59	3	to	to	ADP
fbem-21419	59	4	2022	2022	NUM
fbem-21419	59	5	,	,	PUNCT
fbem-21419	59	6	kweichow	kweichow	PROPN
fbem-21419	59	7	moutai	moutai	PROPN
fbem-21419	59	8	's	's	PART
fbem-21419	59	9	total	total	ADJ
fbem-21419	59	10	asset	asset	NOUN
fbem-21419	59	11	growth	growth	NOUN
fbem-21419	59	12	rate	rate	NOUN
fbem-21419	59	13	has	have	AUX
fbem-21419	59	14	increased	increase	VERB
fbem-21419	59	15	in	in	ADP
fbem-21419	59	16	other	other	ADJ
fbem-21419	59	17	years	year	NOUN
fbem-21419	59	18	,	,	PUNCT
fbem-21419	59	19	and	and	CCONJ
fbem-21419	59	20	the	the	DET
fbem-21419	59	21	total	total	ADJ
fbem-21419	59	22	asset	asset	NOUN
fbem-21419	59	23	growth	growth	NOUN
fbem-21419	59	24	rate	rate	NOUN
fbem-21419	59	25	in	in	ADP
fbem-21419	59	26	2022	2022	NUM
fbem-21419	59	27	is	be	AUX
fbem-21419	59	28	negative	negative	ADJ
fbem-21419	59	29	,	,	PUNCT
fbem-21419	59	30	mainly	mainly	ADV
fbem-21419	59	31	for	for	ADP
fbem-21419	59	32	two	two	NUM
fbem-21419	59	33	reasons	reason	NOUN
fbem-21419	59	34	:	:	PUNCT
fbem-21419	59	35	first	first	ADV
fbem-21419	59	36	,	,	PUNCT
fbem-21419	59	37	in	in	ADP
fbem-21419	59	38	december	december	PROPN
fbem-21419	59	39	2022	2022	NUM
fbem-21419	59	40	,	,	PUNCT
fbem-21419	59	41	the	the	DET
fbem-21419	59	42	company	company	NOUN
fbem-21419	59	43	implemented	implement	VERB
fbem-21419	59	44	a	a	DET
fbem-21419	59	45	large	large	ADJ
fbem-21419	59	46	-	-	PUNCT
fbem-21419	59	47	scale	scale	NOUN
fbem-21419	59	48	shareholder	shareholder	NOUN
fbem-21419	59	49	feedback	feedback	NOUN
fbem-21419	59	50	plan	plan	VERB
fbem-21419	59	51	special	special	ADJ
fbem-21419	59	52	dividend	dividend	NOUN
fbem-21419	59	53	program	program	NOUN
fbem-21419	59	54	,	,	PUNCT
fbem-21419	59	55	resulting	result	VERB
fbem-21419	59	56	in	in	ADP
fbem-21419	59	57	a	a	DET
fbem-21419	59	58	substantial	substantial	ADJ
fbem-21419	59	59	increase	increase	NOUN
fbem-21419	59	60	in	in	ADP
fbem-21419	59	61	cash	cash	NOUN
fbem-21419	59	62	dividends	dividend	NOUN
fbem-21419	59	63	distributed	distribute	VERB
fbem-21419	59	64	to	to	ADP
fbem-21419	59	65	shareholders	shareholder	NOUN
fbem-21419	59	66	;	;	PUNCT
fbem-21419	59	67	second	second	X
fbem-21419	59	68	,	,	PUNCT
fbem-21419	59	69	the	the	DET
fbem-21419	59	70	group	group	NOUN
fbem-21419	59	71	level	level	NOUN
fbem-21419	59	72	completed	complete	VERB
fbem-21419	59	73	the	the	DET
fbem-21419	59	74	adjustment	adjustment	NOUN
fbem-21419	59	75	of	of	ADP
fbem-21419	59	76	guizhou	guizhou	PROPN
fbem-21419	59	77	xijiu	xijiu	PROPN
fbem-21419	59	78	co.	co.	PROPN
fbem-21419	59	79	,	,	PUNCT
fbem-21419	59	80	ltd	ltd	PROPN
fbem-21419	59	81	.	.	PROPN
fbem-21419	59	82	's	's	PART
fbem-21419	59	83	equity	equity	NOUN
fbem-21419	59	84	,	,	PUNCT
fbem-21419	59	85	making	make	VERB
fbem-21419	59	86	guizhou	guizhou	NOUN
fbem-21419	59	87	xijiu	xijiu	PROPN
fbem-21419	59	88	no	no	ADV
fbem-21419	59	89	longer	long	ADV
fbem-21419	59	90	a	a	DET
fbem-21419	59	91	member	member	NOUN
fbem-21419	59	92	of	of	ADP
fbem-21419	59	93	the	the	DET
fbem-21419	59	94	company	company	NOUN
fbem-21419	59	95	's	's	PART
fbem-21419	59	96	kweichow	kweichow	PROPN
fbem-21419	59	97	moutai	moutai	PROPN
fbem-21419	59	98	group	group	PROPN
fbem-21419	59	99	finance	finance	PROPN
fbem-21419	59	100	co.	co.	PROPN
fbem-21419	59	101	,	,	PUNCT
fbem-21419	59	102	ltd	ltd	PROPN
fbem-21419	59	103	.	.	PROPN
fbem-21419	59	104	,	,	PUNCT
fbem-21419	59	105	which	which	PRON
fbem-21419	59	106	led	lead	VERB
fbem-21419	59	107	to	to	ADP
fbem-21419	59	108	a	a	DET
fbem-21419	59	109	decline	decline	NOUN
fbem-21419	59	110	in	in	ADP
fbem-21419	59	111	the	the	DET
fbem-21419	59	112	company	company	NOUN
fbem-21419	59	113	's	's	PART
fbem-21419	59	114	deposit	deposit	NOUN
fbem-21419	59	115	absorption	absorption	NOUN
fbem-21419	59	116	.	.	PUNCT
fbem-21419	60	1	3	3	X
fbem-21419	60	2	.	.	X
fbem-21419	60	3	financial	financial	ADJ
fbem-21419	60	4	performance	performance	NOUN
fbem-21419	60	5	evaluation	evaluation	NOUN
fbem-21419	60	6	of	of	ADP
fbem-21419	60	7	kweichow	kweichow	PROPN
fbem-21419	60	8	moutai	moutai	PROPN
fbem-21419	60	9	based	base	VERB
fbem-21419	60	10	on	on	ADP
fbem-21419	60	11	eva	eva	NOUN
fbem-21419	60	12	economic	economic	ADJ
fbem-21419	60	13	value	value	NOUN
fbem-21419	60	14	added	add	VERB
fbem-21419	60	15	(	(	PUNCT
fbem-21419	60	16	eva	eva	PROPN
fbem-21419	60	17	)	)	PUNCT
fbem-21419	60	18	is	be	AUX
fbem-21419	60	19	a	a	DET
fbem-21419	60	20	key	key	ADJ
fbem-21419	60	21	financial	financial	ADJ
fbem-21419	60	22	metric	metric	NOUN
fbem-21419	60	23	used	use	VERB
fbem-21419	60	24	to	to	PART
fbem-21419	60	25	evaluate	evaluate	VERB
fbem-21419	60	26	a	a	DET
fbem-21419	60	27	business	business	NOUN
fbem-21419	60	28	's	's	PART
fbem-21419	60	29	operating	operating	NOUN
fbem-21419	60	30	performance	performance	NOUN
fbem-21419	60	31	.	.	PUNCT
fbem-21419	61	1	it	it	PRON
fbem-21419	61	2	shows	show	VERB
fbem-21419	61	3	how	how	SCONJ
fbem-21419	61	4	much	much	ADJ
fbem-21419	61	5	revenue	revenue	NOUN
fbem-21419	61	6	the	the	DET
fbem-21419	61	7	business	business	NOUN
fbem-21419	61	8	has	have	AUX
fbem-21419	61	9	left	leave	VERB
fbem-21419	61	10	after	after	ADP
fbem-21419	61	11	deducting	deduct	VERB
fbem-21419	61	12	all	all	DET
fbem-21419	61	13	costs	cost	NOUN
fbem-21419	61	14	,	,	PUNCT
fbem-21419	61	15	including	include	VERB
fbem-21419	61	16	the	the	DET
fbem-21419	61	17	cost	cost	NOUN
fbem-21419	61	18	of	of	ADP
fbem-21419	61	19	capital	capital	NOUN
fbem-21419	61	20	.	.	PUNCT
fbem-21419	62	1	when	when	SCONJ
fbem-21419	62	2	eva	eva	PROPN
fbem-21419	62	3	is	be	AUX
fbem-21419	62	4	positive	positive	ADJ
fbem-21419	62	5	,	,	PUNCT
fbem-21419	62	6	it	it	PRON
fbem-21419	62	7	means	mean	VERB
fbem-21419	62	8	that	that	SCONJ
fbem-21419	62	9	the	the	DET
fbem-21419	62	10	business	business	NOUN
fbem-21419	62	11	is	be	AUX
fbem-21419	62	12	profitable	profitable	ADJ
fbem-21419	62	13	even	even	ADV
fbem-21419	62	14	after	after	ADP
fbem-21419	62	15	paying	pay	VERB
fbem-21419	62	16	the	the	DET
fbem-21419	62	17	cost	cost	NOUN
fbem-21419	62	18	of	of	ADP
fbem-21419	62	19	acquiring	acquire	VERB
fbem-21419	62	20	capital	capital	NOUN
fbem-21419	62	21	.	.	PUNCT
fbem-21419	63	1	this	this	PRON
fbem-21419	63	2	effectively	effectively	ADV
fbem-21419	63	3	means	mean	VERB
fbem-21419	63	4	that	that	SCONJ
fbem-21419	63	5	the	the	DET
fbem-21419	63	6	value	value	NOUN
fbem-21419	63	7	created	create	VERB
fbem-21419	63	8	by	by	ADP
fbem-21419	63	9	the	the	DET
fbem-21419	63	10	business	business	NOUN
fbem-21419	63	11	exceeds	exceed	VERB
fbem-21419	63	12	the	the	DET
fbem-21419	63	13	cost	cost	NOUN
fbem-21419	63	14	of	of	ADP
fbem-21419	63	15	its	its	PRON
fbem-21419	63	16	capital	capital	NOUN
fbem-21419	63	17	occupancy	occupancy	NOUN
fbem-21419	63	18	,	,	PUNCT
fbem-21419	63	19	resulting	result	VERB
fbem-21419	63	20	in	in	ADP
fbem-21419	63	21	a	a	DET
fbem-21419	63	22	return	return	NOUN
fbem-21419	63	23	for	for	ADP
fbem-21419	63	24	investors	investor	NOUN
fbem-21419	63	25	that	that	PRON
fbem-21419	63	26	exceeds	exceed	VERB
fbem-21419	63	27	their	their	PRON
fbem-21419	63	28	expectations	expectation	NOUN
fbem-21419	63	29	or	or	CCONJ
fbem-21419	63	30	opportunity	opportunity	NOUN
fbem-21419	63	31	cost.eva	cost.eva	NOUN
fbem-21419	63	32	value	value	NOUN
fbem-21419	63	33	management	management	NOUN
fbem-21419	63	34	system	system	NOUN
fbem-21419	63	35	can	can	AUX
fbem-21419	63	36	comprehensively	comprehensively	ADV
fbem-21419	63	37	consider	consider	VERB
fbem-21419	63	38	the	the	DET
fbem-21419	63	39	market	market	NOUN
fbem-21419	63	40	environment	environment	NOUN
fbem-21419	63	41	factors	factor	NOUN
fbem-21419	63	42	,	,	PUNCT
fbem-21419	63	43	the	the	DET
fbem-21419	63	44	enterprise	enterprise	NOUN
fbem-21419	63	45	planning	planning	NOUN
fbem-21419	63	46	longterm	longterm	PROPN
fbem-21419	63	47	development	development	NOUN
fbem-21419	63	48	blueprint	blueprint	NOUN
fbem-21419	63	49	has	have	VERB
fbem-21419	63	50	a	a	DET
fbem-21419	63	51	positive	positive	ADJ
fbem-21419	63	52	role	role	NOUN
fbem-21419	63	53	in	in	ADP
fbem-21419	63	54	promoting	promote	VERB
fbem-21419	63	55	,	,	PUNCT
fbem-21419	63	56	therefore	therefore	ADV
fbem-21419	63	57	,	,	PUNCT
fbem-21419	63	58	enterprises	enterprise	NOUN
fbem-21419	63	59	should	should	AUX
fbem-21419	63	60	attach	attach	VERB
fbem-21419	63	61	great	great	ADJ
fbem-21419	63	62	importance	importance	NOUN
fbem-21419	63	63	to	to	PART
fbem-21419	63	64	and	and	CCONJ
fbem-21419	63	65	use	use	VERB
fbem-21419	63	66	eva	eva	NOUN
fbem-21419	63	67	value	value	NOUN
fbem-21419	63	68	evaluation	evaluation	NOUN
fbem-21419	63	69	and	and	CCONJ
fbem-21419	63	70	management	management	NOUN
fbem-21419	63	71	means[6	means[6	PROPN
fbem-21419	63	72	]	]	PUNCT
fbem-21419	63	73	.	.	PUNCT
fbem-21419	64	1	3.1	3.1	NUM
fbem-21419	64	2	.	.	PUNCT
fbem-21419	65	1	kweichow	kweichow	PROPN
fbem-21419	65	2	moutai	moutai	PROPN
fbem-21419	65	3	eva	eva	PROPN
fbem-21419	65	4	index	index	PROPN
fbem-21419	65	5	calculation	calculation	PROPN
fbem-21419	65	6	eva	eva	PROPN
fbem-21419	65	7	is	be	AUX
fbem-21419	65	8	the	the	DET
fbem-21419	65	9	company	company	NOUN
fbem-21419	65	10	's	's	PART
fbem-21419	65	11	net	net	ADJ
fbem-21419	65	12	operating	operating	NOUN
fbem-21419	65	13	profit	profit	NOUN
fbem-21419	65	14	after	after	ADP
fbem-21419	65	15	tax	tax	NOUN
fbem-21419	65	16	after	after	ADP
fbem-21419	65	17	deducting	deduct	VERB
fbem-21419	65	18	all	all	DET
fbem-21419	65	19	the	the	DET
fbem-21419	65	20	capital	capital	NOUN
fbem-21419	65	21	invested	invest	VERB
fbem-21419	65	22	,	,	PUNCT
fbem-21419	65	23	and	and	CCONJ
fbem-21419	65	24	its	its	PRON
fbem-21419	65	25	calculation	calculation	NOUN
fbem-21419	65	26	formula	formula	NOUN
fbem-21419	65	27	is	be	AUX
fbem-21419	65	28	as	as	SCONJ
fbem-21419	65	29	follows	follow	VERB
fbem-21419	65	30	:	:	PUNCT
fbem-21419	65	31	economic	economic	ADJ
fbem-21419	65	32	value	value	NOUN
fbem-21419	65	33	added	add	VERB
fbem-21419	65	34	=	=	VERB
fbem-21419	65	35	net	net	ADJ
fbem-21419	65	36	operating	operating	NOUN
fbem-21419	65	37	profit	profit	NOUN
fbem-21419	65	38	after	after	ADP
fbem-21419	65	39	tax	tax	NOUN
fbem-21419	65	40	-	-	PUNCT
fbem-21419	65	41	total	total	ADJ
fbem-21419	65	42	capital×weighted	capital×weighted	ADJ
fbem-21419	65	43	average	average	ADJ
fbem-21419	65	44	cost	cost	NOUN
fbem-21419	65	45	of	of	ADP
fbem-21419	65	46	capital	capital	NOUN
fbem-21419	65	47	3.1.1	3.1.1	NUM
fbem-21419	65	48	.	.	PUNCT
fbem-21419	66	1	net	net	ADJ
fbem-21419	66	2	operating	operating	NOUN
fbem-21419	66	3	profit	profit	NOUN
fbem-21419	66	4	after	after	ADP
fbem-21419	66	5	tax	tax	NOUN
fbem-21419	66	6	net	net	ADJ
fbem-21419	66	7	operating	operating	NOUN
fbem-21419	66	8	profit	profit	NOUN
fbem-21419	66	9	after	after	ADP
fbem-21419	66	10	tax	tax	NOUN
fbem-21419	66	11	reflects	reflect	VERB
fbem-21419	66	12	the	the	DET
fbem-21419	66	13	investment	investment	NOUN
fbem-21419	66	14	income	income	NOUN
fbem-21419	66	15	of	of	ADP
fbem-21419	66	16	all	all	DET
fbem-21419	66	17	the	the	DET
fbem-21419	66	18	capital	capital	NOUN
fbem-21419	66	19	of	of	ADP
fbem-21419	66	20	an	an	DET
fbem-21419	66	21	enterprise	enterprise	NOUN
fbem-21419	66	22	after	after	ADP
fbem-21419	66	23	deduction	deduction	NOUN
fbem-21419	66	24	of	of	ADP
fbem-21419	66	25	tax	tax	NOUN
fbem-21419	66	26	.	.	PUNCT
fbem-21419	67	1	this	this	DET
fbem-21419	67	2	index	index	NOUN
fbem-21419	67	3	is	be	AUX
fbem-21419	67	4	not	not	PART
fbem-21419	67	5	affected	affect	VERB
fbem-21419	67	6	by	by	ADP
fbem-21419	67	7	the	the	DET
fbem-21419	67	8	capital	capital	NOUN
fbem-21419	67	9	structure	structure	NOUN
fbem-21419	67	10	of	of	ADP
fbem-21419	67	11	an	an	DET
fbem-21419	67	12	enterprise	enterprise	NOUN
fbem-21419	67	13	and	and	CCONJ
fbem-21419	67	14	can	can	AUX
fbem-21419	67	15	accurately	accurately	ADV
fbem-21419	67	16	show	show	VERB
fbem-21419	67	17	the	the	DET
fbem-21419	67	18	profit	profit	NOUN
fbem-21419	67	19	level	level	NOUN
fbem-21419	67	20	of	of	ADP
fbem-21419	67	21	an	an	DET
fbem-21419	67	22	enterprise	enterprise	NOUN
fbem-21419	67	23	in	in	ADP
fbem-21419	67	24	different	different	ADJ
fbem-21419	67	25	time	time	NOUN
fbem-21419	67	26	periods	period	NOUN
fbem-21419	67	27	.	.	PUNCT
fbem-21419	68	1	the	the	DET
fbem-21419	68	2	calculation	calculation	NOUN
fbem-21419	68	3	formula	formula	NOUN
fbem-21419	68	4	is	be	AUX
fbem-21419	68	5	as	as	SCONJ
fbem-21419	68	6	follows	follow	VERB
fbem-21419	68	7	:	:	PUNCT
fbem-21419	68	8	net	net	ADJ
fbem-21419	68	9	operating	operating	NOUN
fbem-21419	68	10	profit	profit	NOUN
fbem-21419	68	11	after	after	ADP
fbem-21419	68	12	tax	tax	NOUN
fbem-21419	68	13	=	=	NOUN
fbem-21419	68	14	operating	operate	VERB
fbem-21419	68	15	profit	profit	NOUN
fbem-21419	68	16	-	-	PUNCT
fbem-21419	68	17	income	income	NOUN
fbem-21419	68	18	tax	tax	NOUN
fbem-21419	68	19	expense+(interest	expense+(inter	ADJ
fbem-21419	69	1	expense+asset	expense+asset	PROPN
fbem-21419	69	2	impairment	impairment	ADJ
fbem-21419	69	3	loss+development	loss+development	PROPN
fbem-21419	69	4	expenditure)×（1	expenditure)×（1	NOUN
fbem-21419	69	5	-	-	PUNCT
fbem-21419	69	6	corporate	corporate	ADJ
fbem-21419	69	7	income	income	NOUN
fbem-21419	69	8	tax	tax	NOUN
fbem-21419	69	9	rate）+increase	rate）+increase	NOUN
fbem-21419	69	10	in	in	ADP
fbem-21419	69	11	deferred	deferred	ADJ
fbem-21419	69	12	income	income	NOUN
fbem-21419	69	13	tax	tax	NOUN
fbem-21419	69	14	liabilities	liability	NOUN
fbem-21419	69	15	-	-	PUNCT
fbem-21419	69	16	increase	increase	NOUN
fbem-21419	69	17	in	in	ADP
fbem-21419	69	18	deferred	deferred	ADJ
fbem-21419	69	19	tax	tax	NOUN
fbem-21419	69	20	assets	asset	NOUN
fbem-21419	69	21	the	the	DET
fbem-21419	69	22	calculation	calculation	NOUN
fbem-21419	69	23	results	result	NOUN
fbem-21419	69	24	of	of	ADP
fbem-21419	69	25	kweichow	kweichow	PROPN
fbem-21419	69	26	moutai	moutai	PROPN
fbem-21419	69	27	's	's	PART
fbem-21419	69	28	net	net	ADJ
fbem-21419	69	29	operating	operating	NOUN
fbem-21419	69	30	profit	profit	NOUN
fbem-21419	69	31	after	after	ADP
fbem-21419	69	32	tax	tax	NOUN
fbem-21419	69	33	from	from	ADP
fbem-21419	69	34	2019	2019	NUM
fbem-21419	69	35	to	to	ADP
fbem-21419	69	36	2023	2023	NUM
fbem-21419	69	37	are	be	AUX
fbem-21419	69	38	shown	show	VERB
fbem-21419	69	39	in	in	ADP
fbem-21419	69	40	table	table	NOUN
fbem-21419	69	41	5	5	NUM
fbem-21419	69	42	.	.	PUNCT
fbem-21419	69	43	table	table	NOUN
fbem-21419	69	44	5	5	NUM
fbem-21419	69	45	.	.	PUNCT
fbem-21419	70	1	calculation	calculation	NOUN
fbem-21419	70	2	of	of	ADP
fbem-21419	70	3	kweichow	kweichow	PROPN
fbem-21419	70	4	moutai	moutai	PROPN
fbem-21419	70	5	's	's	PART
fbem-21419	70	6	net	net	ADJ
fbem-21419	70	7	operating	operating	NOUN
fbem-21419	70	8	profit	profit	NOUN
fbem-21419	70	9	after	after	ADP
fbem-21419	70	10	tax	tax	NOUN
fbem-21419	70	11	for	for	ADP
fbem-21419	70	12	2019	2019	NUM
fbem-21419	70	13	-	-	SYM
fbem-21419	70	14	2023（unit：million	2023（unit：million	NUM
fbem-21419	70	15	yuan	yuan	PROPN
fbem-21419	70	16	）	）	PROPN
fbem-21419	70	17	time	time	NOUN
fbem-21419	70	18	2019	2019	NUM
fbem-21419	70	19	2020	2020	NUM
fbem-21419	70	20	2021	2021	NUM
fbem-21419	70	21	2022	2022	NUM
fbem-21419	70	22	2023	2023	NUM
fbem-21419	70	23	operating	operating	NOUN
fbem-21419	70	24	profit	profit	NOUN
fbem-21419	70	25	59041.49	59041.49	NUM
fbem-21419	70	26	66635.08	66635.08	NUM
fbem-21419	70	27	74750.88	74750.88	NUM
fbem-21419	70	28	87879.52	87879.52	NUM
fbem-21419	70	29	103708.66	103708.66	NUM
fbem-21419	70	30	income	income	NOUN
fbem-21419	70	31	tax	tax	NOUN
fbem-21419	70	32	expense	expense	NOUN
fbem-21419	70	33	14812.55	14812.55	NUM
fbem-21419	70	34	16673.61	16673.61	NUM
fbem-21419	70	35	18807.50	18807.50	NUM
fbem-21419	70	36	22326.35	22326.35	NUM
fbem-21419	70	37	26141.08	26141.08	NUM
fbem-21419	70	38	interest	interest	NOUN
fbem-21419	70	39	expense	expense	NOUN
fbem-21419	70	40	0.00	0.00	NUM
fbem-21419	70	41	0.00	0.00	NUM
fbem-21419	70	42	13.53	13.53	NUM
fbem-21419	70	43	12.02	12.02	NUM
fbem-21419	70	44	0.00	0.00	NUM
fbem-21419	70	45	asset	asset	NOUN
fbem-21419	70	46	impairment	impairment	NOUN
fbem-21419	70	47	loss	loss	NOUN
fbem-21419	70	48	0.00	0.00	NUM
fbem-21419	70	49	0.00	0.00	NUM
fbem-21419	70	50	0.00	0.00	NUM
fbem-21419	70	51	0.00	0.00	NUM
fbem-21419	70	52	0.00	0.00	NUM
fbem-21419	70	53	development	development	NOUN
fbem-21419	70	54	expenditure	expenditure	NOUN
fbem-21419	70	55	0.00	0.00	NUM
fbem-21419	70	56	0.00	0.00	NUM
fbem-21419	70	57	0.00	0.00	NUM
fbem-21419	70	58	190.54	190.54	NUM
fbem-21419	70	59	218.02	218.02	NUM
fbem-21419	70	60	corporate	corporate	ADJ
fbem-21419	70	61	income	income	NOUN
fbem-21419	70	62	tax	tax	NOUN
fbem-21419	70	63	rate	rate	NOUN
fbem-21419	70	64	0.25	0.25	NUM
fbem-21419	70	65	0.25	0.25	NUM
fbem-21419	70	66	0.25	0.25	NUM
fbem-21419	70	67	0.25	0.25	NUM
fbem-21419	70	68	0.25	0.25	NUM
fbem-21419	70	69	increase	increase	NOUN
fbem-21419	70	70	in	in	ADP
fbem-21419	70	71	deferred	deferred	ADJ
fbem-21419	70	72	income	income	NOUN
fbem-21419	70	73	tax	tax	NOUN
fbem-21419	70	74	liabilities	liability	NOUN
fbem-21419	70	75	72.69	72.69	NUM
fbem-21419	70	76	-71.24	-71.24	PROPN
fbem-21419	70	77	-1.46	-1.46	NOUN
fbem-21419	70	78	0.00	0.00	NUM
fbem-21419	70	79	78.94	78.94	NUM
fbem-21419	70	80	increase	increase	NOUN
fbem-21419	70	81	in	in	ADP
fbem-21419	70	82	deferred	deferred	ADJ
fbem-21419	70	83	tax	tax	NOUN
fbem-21419	70	84	assets	asset	NOUN
fbem-21419	70	85	50.65	50.65	NUM
fbem-21419	70	86	23.28	23.28	NUM
fbem-21419	70	87	1113.98	1113.98	NUM
fbem-21419	70	88	1221.72	1221.72	NUM
fbem-21419	70	89	1186.96	1186.96	NUM
fbem-21419	70	90	net	net	ADJ
fbem-21419	70	91	operating	operating	NOUN
fbem-21419	70	92	profit	profit	NOUN
fbem-21419	70	93	after	after	ADP
fbem-21419	70	94	tax	tax	NOUN
fbem-21419	70	95	44250.98	44250.98	NUM
fbem-21419	70	96	49866.95	49866.95	NUM
fbem-21419	70	97	54838.09	54838.09	NUM
fbem-21419	70	98	64483.36	64483.36	NUM
fbem-21419	70	99	76623.08	76623.08	NUM
fbem-21419	70	100	143	143	NUM
fbem-21419	70	101	3.1.2	3.1.2	NUM
fbem-21419	70	102	.	.	PUNCT
fbem-21419	71	1	total	total	ADJ
fbem-21419	71	2	capital	capital	NOUN
fbem-21419	71	3	total	total	NOUN
fbem-21419	71	4	capital	capital	NOUN
fbem-21419	71	5	refers	refer	VERB
fbem-21419	71	6	to	to	ADP
fbem-21419	71	7	the	the	DET
fbem-21419	71	8	sum	sum	NOUN
fbem-21419	71	9	of	of	ADP
fbem-21419	71	10	the	the	DET
fbem-21419	71	11	debt	debt	NOUN
fbem-21419	71	12	capital	capital	NOUN
fbem-21419	71	13	and	and	CCONJ
fbem-21419	71	14	equity	equity	NOUN
fbem-21419	71	15	capital	capital	NOUN
fbem-21419	71	16	of	of	ADP
fbem-21419	71	17	the	the	DET
fbem-21419	71	18	enterprise	enterprise	NOUN
fbem-21419	71	19	.	.	PUNCT
fbem-21419	72	1	its	its	PRON
fbem-21419	72	2	calculation	calculation	NOUN
fbem-21419	72	3	formula	formula	NOUN
fbem-21419	72	4	is	be	AUX
fbem-21419	72	5	as	as	SCONJ
fbem-21419	72	6	follows	follow	VERB
fbem-21419	72	7	:	:	PUNCT
fbem-21419	72	8	total	total	ADJ
fbem-21419	72	9	capital	capital	NOUN
fbem-21419	72	10	=	=	NOUN
fbem-21419	72	11	debt	debt	NOUN
fbem-21419	72	12	capital+equity	capital+equity	PROPN
fbem-21419	72	13	capital	capital	NOUN
fbem-21419	72	14	debt	debt	NOUN
fbem-21419	72	15	capital	capital	NOUN
fbem-21419	72	16	=	=	SYM
fbem-21419	72	17	short	short	ADJ
fbem-21419	72	18	-	-	PUNCT
fbem-21419	72	19	term	term	NOUN
fbem-21419	72	20	loan+transactional	loan+transactional	PROPN
fbem-21419	72	21	financial	financial	ADJ
fbem-21419	72	22	liabilities+non	liabilities+non	PROPN
fbem-21419	72	23	-	-	PUNCT
fbem-21419	72	24	current	current	ADJ
fbem-21419	72	25	liabilities	liability	NOUN
fbem-21419	72	26	due	due	ADJ
fbem-21419	72	27	within	within	ADP
fbem-21419	72	28	one	one	NUM
fbem-21419	72	29	year+longterm	year+longterm	PROPN
fbem-21419	72	30	loan+bonds	loan+bonds	PROPN
fbem-21419	72	31	payable+long	payable+long	PROPN
fbem-21419	72	32	-	-	PUNCT
fbem-21419	72	33	term	term	NOUN
fbem-21419	72	34	payables	payable	NOUN
fbem-21419	72	35	equity	equity	NOUN
fbem-21419	72	36	capital	capital	NOUN
fbem-21419	72	37	=	=	NOUN
fbem-21419	72	38	total	total	NOUN
fbem-21419	72	39	owners	owner	NOUN
fbem-21419	72	40	'	'	PART
fbem-21419	72	41	equity+reserve	equity+reserve	PROPN
fbem-21419	72	42	for	for	ADP
fbem-21419	72	43	asset	asset	NOUN
fbem-21419	72	44	impairment	impairment	NOUN
fbem-21419	72	45	-	-	PUNCT
fbem-21419	72	46	provision	provision	NOUN
fbem-21419	72	47	for	for	ADP
fbem-21419	72	48	impairment	impairment	NOUN
fbem-21419	72	49	of	of	ADP
fbem-21419	72	50	construction	construction	NOUN
fbem-21419	72	51	in	in	ADP
fbem-21419	72	52	progress	progress	NOUN
fbem-21419	72	53	-	-	PUNCT
fbem-21419	72	54	net	net	ADJ
fbem-21419	72	55	construction	construction	NOUN
fbem-21419	72	56	in	in	ADP
fbem-21419	72	57	progress+deferred	progress+deferred	ADJ
fbem-21419	72	58	income	income	NOUN
fbem-21419	72	59	tax	tax	NOUN
fbem-21419	72	60	liabilities	liability	NOUN
fbem-21419	72	61	-	-	PUNCT
fbem-21419	72	62	deferred	defer	VERB
fbem-21419	72	63	tax	tax	NOUN
fbem-21419	72	64	assets	asset	NOUN
fbem-21419	72	65	the	the	DET
fbem-21419	72	66	calculation	calculation	NOUN
fbem-21419	72	67	results	result	NOUN
fbem-21419	72	68	of	of	ADP
fbem-21419	72	69	kweichow	kweichow	PROPN
fbem-21419	72	70	moutai	moutai	PROPN
fbem-21419	72	71	's	's	PART
fbem-21419	72	72	debt	debt	NOUN
fbem-21419	72	73	capital	capital	NOUN
fbem-21419	72	74	,	,	PUNCT
fbem-21419	72	75	equity	equity	NOUN
fbem-21419	72	76	capital	capital	NOUN
fbem-21419	72	77	and	and	CCONJ
fbem-21419	72	78	total	total	ADJ
fbem-21419	72	79	capital	capital	NOUN
fbem-21419	72	80	from	from	ADP
fbem-21419	72	81	2019	2019	NUM
fbem-21419	72	82	to	to	ADP
fbem-21419	72	83	2023	2023	NUM
fbem-21419	72	84	are	be	AUX
fbem-21419	72	85	shown	show	VERB
fbem-21419	72	86	in	in	ADP
fbem-21419	72	87	table	table	NOUN
fbem-21419	72	88	6	6	NUM
fbem-21419	72	89	,	,	PUNCT
fbem-21419	72	90	7	7	NUM
fbem-21419	72	91	and	and	CCONJ
fbem-21419	72	92	8	8	NUM
fbem-21419	72	93	.	.	NOUN
fbem-21419	72	94	table	table	NOUN
fbem-21419	72	95	6	6	NUM
fbem-21419	72	96	.	.	PUNCT
fbem-21419	73	1	statement	statement	NOUN
fbem-21419	73	2	of	of	ADP
fbem-21419	73	3	kweichow	kweichow	PROPN
fbem-21419	73	4	moutai	moutai	PROPN
fbem-21419	73	5	's	's	PART
fbem-21419	73	6	debt	debt	NOUN
fbem-21419	73	7	capital	capital	NOUN
fbem-21419	73	8	for	for	ADP
fbem-21419	73	9	2019	2019	NUM
fbem-21419	73	10	-	-	SYM
fbem-21419	73	11	2023	2023	NUM
fbem-21419	73	12	(	(	PUNCT
fbem-21419	73	13	unit	unit	NOUN
fbem-21419	73	14	:	:	PUNCT
fbem-21419	73	15	million	million	NUM
fbem-21419	73	16	yuan	yuan	NOUN
fbem-21419	73	17	)	)	PUNCT
fbem-21419	73	18	time	time	NOUN
fbem-21419	73	19	2019	2019	NUM
fbem-21419	73	20	2020	2020	NUM
fbem-21419	73	21	2021	2021	NUM
fbem-21419	73	22	2022	2022	NUM
fbem-21419	73	23	2023	2023	NUM
fbem-21419	73	24	short	short	ADJ
fbem-21419	73	25	-	-	PUNCT
fbem-21419	73	26	term	term	NOUN
fbem-21419	73	27	loan	loan	NOUN
fbem-21419	73	28	0.00	0.00	NUM
fbem-21419	73	29	0.00	0.00	NUM
fbem-21419	73	30	0.00	0.00	NUM
fbem-21419	73	31	0.00	0.00	NUM
fbem-21419	73	32	0.00	0.00	NUM
fbem-21419	73	33	transactional	transactional	ADJ
fbem-21419	73	34	financial	financial	ADJ
fbem-21419	73	35	liabilities	liability	NOUN
fbem-21419	73	36	0.00	0.00	NUM
fbem-21419	73	37	0.00	0.00	NUM
fbem-21419	73	38	0.00	0.00	NUM
fbem-21419	73	39	0.00	0.00	NUM
fbem-21419	73	40	0.00	0.00	NUM
fbem-21419	73	41	non	non	ADJ
fbem-21419	73	42	-	-	ADJ
fbem-21419	73	43	current	current	ADJ
fbem-21419	73	44	liabilities	liability	NOUN
fbem-21419	73	45	due	due	ADJ
fbem-21419	73	46	within	within	ADP
fbem-21419	73	47	one	one	NUM
fbem-21419	73	48	year	year	NOUN
fbem-21419	73	49	0.00	0.00	NUM
fbem-21419	73	50	0.00	0.00	NUM
fbem-21419	73	51	104.32	104.32	NUM
fbem-21419	73	52	109.35	109.35	NUM
fbem-21419	73	53	57.05	57.05	NUM
fbem-21419	73	54	long	long	ADJ
fbem-21419	73	55	-	-	PUNCT
fbem-21419	73	56	term	term	NOUN
fbem-21419	73	57	loan	loan	NOUN
fbem-21419	73	58	0.00	0.00	NUM
fbem-21419	73	59	0.00	0.00	NUM
fbem-21419	73	60	0.00	0.00	NUM
fbem-21419	73	61	0.00	0.00	NUM
fbem-21419	73	62	0.00	0.00	NUM
fbem-21419	73	63	bonds	bond	NOUN
fbem-21419	73	64	payable	payable	ADJ
fbem-21419	73	65	0.00	0.00	NUM
fbem-21419	73	66	0.00	0.00	NUM
fbem-21419	73	67	0.00	0.00	NUM
fbem-21419	73	68	0.00	0.00	NUM
fbem-21419	73	69	0.00	0.00	NUM
fbem-21419	73	70	long	long	ADJ
fbem-21419	73	71	-	-	PUNCT
fbem-21419	73	72	term	term	NOUN
fbem-21419	73	73	payables	payable	NOUN
fbem-21419	73	74	0.00	0.00	NUM
fbem-21419	73	75	0.00	0.00	NUM
fbem-21419	73	76	0.00	0.00	NUM
fbem-21419	73	77	0.00	0.00	NUM
fbem-21419	73	78	0.00	0.00	NUM
fbem-21419	73	79	debt	debt	NOUN
fbem-21419	73	80	capital	capital	NOUN
fbem-21419	73	81	0.00	0.00	NUM
fbem-21419	73	82	0.00	0.00	NUM
fbem-21419	73	83	104.32	104.32	NUM
fbem-21419	73	84	109.35	109.35	NUM
fbem-21419	73	85	57.05	57.05	NUM
fbem-21419	73	86	table	table	NOUN
fbem-21419	73	87	7	7	NUM
fbem-21419	73	88	.	.	PUNCT
fbem-21419	74	1	statement	statement	NOUN
fbem-21419	74	2	of	of	ADP
fbem-21419	74	3	kweichow	kweichow	PROPN
fbem-21419	74	4	moutai	moutai	PROPN
fbem-21419	74	5	's	's	PART
fbem-21419	74	6	equity	equity	NOUN
fbem-21419	74	7	capital	capital	NOUN
fbem-21419	74	8	for	for	ADP
fbem-21419	74	9	2019	2019	NUM
fbem-21419	74	10	-	-	SYM
fbem-21419	74	11	2023	2023	NUM
fbem-21419	74	12	(	(	PUNCT
fbem-21419	74	13	unit	unit	NOUN
fbem-21419	74	14	:	:	PUNCT
fbem-21419	74	15	million	million	NUM
fbem-21419	74	16	yuan	yuan	NOUN
fbem-21419	74	17	)	)	PUNCT
fbem-21419	74	18	time	time	NOUN
fbem-21419	74	19	2019	2019	NUM
fbem-21419	74	20	2020	2020	NUM
fbem-21419	74	21	2021	2021	NUM
fbem-21419	74	22	2022	2022	NUM
fbem-21419	74	23	2023	2023	NUM
fbem-21419	74	24	total	total	NOUN
fbem-21419	74	25	owners	owner	NOUN
fbem-21419	74	26	'	'	PART
fbem-21419	74	27	equity	equity	NOUN
fbem-21419	74	28	141876.38	141876.38	NUM
fbem-21419	74	29	167720.68	167720.68	NUM
fbem-21419	74	30	196957.51	196957.51	NUM
fbem-21419	74	31	204964.69	204964.69	NUM
fbem-21419	74	32	223656.47	223656.47	NUM
fbem-21419	74	33	reserve	reserve	NOUN
fbem-21419	74	34	for	for	ADP
fbem-21419	74	35	asset	asset	NOUN
fbem-21419	74	36	impairment	impairment	NOUN
fbem-21419	74	37	0.00	0.00	NUM
fbem-21419	74	38	0.00	0.00	NUM
fbem-21419	74	39	0.00	0.00	NUM
fbem-21419	74	40	0.00	0.00	NUM
fbem-21419	74	41	0.00	0.00	NUM
fbem-21419	74	42	provision	provision	NOUN
fbem-21419	74	43	for	for	ADP
fbem-21419	74	44	impairment	impairment	NOUN
fbem-21419	74	45	of	of	ADP
fbem-21419	74	46	construction	construction	NOUN
fbem-21419	74	47	in	in	ADP
fbem-21419	74	48	progress	progress	NOUN
fbem-21419	74	49	0.00	0.00	NUM
fbem-21419	74	50	0.00	0.00	NUM
fbem-21419	74	51	0.00	0.00	NUM
fbem-21419	74	52	0.00	0.00	NUM
fbem-21419	74	53	0.00	0.00	NUM
fbem-21419	74	54	net	net	ADJ
fbem-21419	74	55	construction	construction	NOUN
fbem-21419	74	56	in	in	ADP
fbem-21419	74	57	progress	progress	NOUN
fbem-21419	74	58	2518.94	2518.94	NUM
fbem-21419	74	59	2447.44	2447.44	NUM
fbem-21419	74	60	2321.99	2321.99	NUM
fbem-21419	74	61	2208.33	2208.33	NUM
fbem-21419	74	62	2137.46	2137.46	NUM
fbem-21419	74	63	deferred	defer	VERB
fbem-21419	74	64	income	income	NOUN
fbem-21419	74	65	tax	tax	NOUN
fbem-21419	74	66	liabilities	liability	NOUN
fbem-21419	74	67	72.69	72.69	NUM
fbem-21419	74	68	1.46	1.46	NUM
fbem-21419	74	69	0.00	0.00	NUM
fbem-21419	74	70	0.00	0.00	NUM
fbem-21419	74	71	78.94	78.94	NUM
fbem-21419	74	72	deferred	defer	VERB
fbem-21419	74	73	tax	tax	NOUN
fbem-21419	74	74	assets	asset	NOUN
fbem-21419	74	75	1099.95	1099.95	NUM
fbem-21419	74	76	1123.23	1123.23	NUM
fbem-21419	74	77	2237.21	2237.21	NUM
fbem-21419	74	78	3458.93	3458.93	NUM
fbem-21419	74	79	4645.89	4645.89	NUM
fbem-21419	74	80	equity	equity	NOUN
fbem-21419	74	81	capital	capital	NOUN
fbem-21419	74	82	138330.19	138330.19	NUM
fbem-21419	74	83	164151.47	164151.47	NUM
fbem-21419	74	84	192398.31	192398.31	NUM
fbem-21419	74	85	199297.43	199297.43	NUM
fbem-21419	74	86	216952.06	216952.06	NUM
fbem-21419	74	87	table	table	NOUN
fbem-21419	74	88	8	8	NUM
fbem-21419	74	89	.	.	PUNCT
fbem-21419	75	1	calculation	calculation	NOUN
fbem-21419	75	2	of	of	ADP
fbem-21419	75	3	total	total	ADJ
fbem-21419	75	4	capital	capital	NOUN
fbem-21419	75	5	of	of	ADP
fbem-21419	75	6	kweichow	kweichow	PROPN
fbem-21419	75	7	moutai	moutai	NOUN
fbem-21419	75	8	in	in	ADP
fbem-21419	75	9	2019	2019	NUM
fbem-21419	75	10	-	-	SYM
fbem-21419	75	11	2023	2023	NUM
fbem-21419	75	12	(	(	PUNCT
fbem-21419	75	13	unit	unit	NOUN
fbem-21419	75	14	:	:	PUNCT
fbem-21419	75	15	million	million	NUM
fbem-21419	75	16	yuan	yuan	NOUN
fbem-21419	75	17	)	)	PUNCT
fbem-21419	75	18	time	time	NOUN
fbem-21419	75	19	2019	2019	NUM
fbem-21419	75	20	2020	2020	NUM
fbem-21419	75	21	2021	2021	NUM
fbem-21419	75	22	2022	2022	NUM
fbem-21419	75	23	2023	2023	NUM
fbem-21419	75	24	debt	debt	NOUN
fbem-21419	75	25	capital	capital	NOUN
fbem-21419	75	26	0.00	0.00	NUM
fbem-21419	75	27	0.00	0.00	NUM
fbem-21419	75	28	104.32	104.32	NUM
fbem-21419	75	29	109.35	109.35	NUM
fbem-21419	75	30	57.05	57.05	NUM
fbem-21419	75	31	equity	equity	NOUN
fbem-21419	75	32	capital	capital	NOUN
fbem-21419	75	33	138330.19	138330.19	NUM
fbem-21419	75	34	164151.47	164151.47	NUM
fbem-21419	75	35	192398.31	192398.31	NUM
fbem-21419	75	36	199297.43	199297.43	NUM
fbem-21419	75	37	216952.06	216952.06	NUM
fbem-21419	75	38	total	total	ADJ
fbem-21419	75	39	capital	capital	NOUN
fbem-21419	75	40	138330.19	138330.19	NUM
fbem-21419	75	41	164151.47	164151.47	NUM
fbem-21419	75	42	192502.63	192502.63	NUM
fbem-21419	75	43	199406.78	199406.78	NUM
fbem-21419	75	44	217009.12	217009.12	NUM
fbem-21419	75	45	3.1.3	3.1.3	NUM
fbem-21419	75	46	.	.	PUNCT
fbem-21419	75	47	weighted	weight	VERB
fbem-21419	75	48	average	average	ADJ
fbem-21419	75	49	cost	cost	NOUN
fbem-21419	75	50	of	of	ADP
fbem-21419	75	51	capital	capital	NOUN
fbem-21419	75	52	weighted	weight	VERB
fbem-21419	75	53	average	average	ADJ
fbem-21419	75	54	cost	cost	NOUN
fbem-21419	75	55	of	of	ADP
fbem-21419	75	56	capital	capital	NOUN
fbem-21419	75	57	refers	refer	VERB
fbem-21419	75	58	to	to	ADP
fbem-21419	75	59	the	the	DET
fbem-21419	75	60	weighted	weighted	ADJ
fbem-21419	75	61	average	average	NOUN
fbem-21419	75	62	of	of	ADP
fbem-21419	75	63	the	the	DET
fbem-21419	75	64	ratio	ratio	NOUN
fbem-21419	75	65	of	of	ADP
fbem-21419	75	66	debt	debt	NOUN
fbem-21419	75	67	capital	capital	NOUN
fbem-21419	75	68	and	and	CCONJ
fbem-21419	75	69	equity	equity	NOUN
fbem-21419	75	70	capital	capital	NOUN
fbem-21419	75	71	to	to	ADP
fbem-21419	75	72	the	the	DET
fbem-21419	75	73	total	total	ADJ
fbem-21419	75	74	capital	capital	NOUN
fbem-21419	75	75	to	to	PART
fbem-21419	75	76	calculate	calculate	VERB
fbem-21419	75	77	the	the	DET
fbem-21419	75	78	company	company	NOUN
fbem-21419	75	79	's	's	PART
fbem-21419	75	80	cost	cost	NOUN
fbem-21419	75	81	of	of	ADP
fbem-21419	75	82	capital	capital	NOUN
fbem-21419	75	83	,	,	PUNCT
fbem-21419	75	84	and	and	CCONJ
fbem-21419	75	85	its	its	PRON
fbem-21419	75	86	calculation	calculation	NOUN
fbem-21419	75	87	formula	formula	NOUN
fbem-21419	75	88	is	be	AUX
fbem-21419	75	89	as	as	SCONJ
fbem-21419	75	90	follows	follow	VERB
fbem-21419	75	91	:	:	PUNCT
fbem-21419	75	92	weighted	weight	VERB
fbem-21419	75	93	average	average	ADJ
fbem-21419	75	94	cost	cost	NOUN
fbem-21419	75	95	of	of	ADP
fbem-21419	75	96	capital	capital	NOUN
fbem-21419	75	97	=	=	NOUN
fbem-21419	75	98	after	after	ADP
fbem-21419	75	99	-	-	PUNCT
fbem-21419	75	100	tax	tax	NOUN
fbem-21419	75	101	cost	cost	NOUN
fbem-21419	75	102	of	of	ADP
fbem-21419	75	103	bond	bond	NOUN
fbem-21419	75	104	capital×(debt	capital×(debt	NOUN
fbem-21419	75	105	capital	capital	NOUN
fbem-21419	75	106	/	/	SYM
fbem-21419	75	107	total	total	NOUN
fbem-21419	75	108	capital)+cost	capital)+cost	NOUN
fbem-21419	75	109	of	of	ADP
fbem-21419	75	110	equity	equity	NOUN
fbem-21419	75	111	capital*(equity	capital*(equity	PROPN
fbem-21419	75	112	capital	capital	NOUN
fbem-21419	75	113	/	/	SYM
fbem-21419	75	114	total	total	NOUN
fbem-21419	75	115	capital	capital	NOUN
fbem-21419	75	116	)	)	PUNCT
fbem-21419	75	117	(	(	PUNCT
fbem-21419	75	118	1	1	X
fbem-21419	75	119	)	)	PUNCT
fbem-21419	75	120	after	after	ADP
fbem-21419	75	121	-	-	PUNCT
fbem-21419	75	122	tax	tax	NOUN
fbem-21419	75	123	cost	cost	NOUN
fbem-21419	75	124	of	of	ADP
fbem-21419	75	125	bond	bond	NOUN
fbem-21419	75	126	capital	capital	NOUN
fbem-21419	75	127	as	as	SCONJ
fbem-21419	75	128	can	can	AUX
fbem-21419	75	129	be	be	AUX
fbem-21419	75	130	seen	see	VERB
fbem-21419	75	131	from	from	ADP
fbem-21419	75	132	the	the	DET
fbem-21419	75	133	above	above	NOUN
fbem-21419	75	134	,	,	PUNCT
fbem-21419	75	135	kweichow	kweichow	PROPN
fbem-21419	75	136	moutai	moutai	PROPN
fbem-21419	75	137	's	's	PART
fbem-21419	75	138	debt	debt	NOUN
fbem-21419	75	139	capital	capital	NOUN
fbem-21419	75	140	is	be	AUX
fbem-21419	75	141	mainly	mainly	ADV
fbem-21419	75	142	non	non	ADJ
fbem-21419	75	143	-	-	ADJ
fbem-21419	75	144	current	current	ADJ
fbem-21419	75	145	liabilities	liability	NOUN
fbem-21419	75	146	due	due	ADJ
fbem-21419	75	147	within	within	ADP
fbem-21419	75	148	one	one	NUM
fbem-21419	75	149	year	year	NOUN
fbem-21419	75	150	,	,	PUNCT
fbem-21419	75	151	so	so	ADV
fbem-21419	75	152	the	the	DET
fbem-21419	75	153	one	one	NUM
fbem-21419	75	154	-	-	PUNCT
fbem-21419	75	155	year	year	NOUN
fbem-21419	75	156	bank	bank	NOUN
fbem-21419	75	157	loan	loan	NOUN
fbem-21419	75	158	interest	interest	NOUN
fbem-21419	75	159	rate	rate	NOUN
fbem-21419	75	160	is	be	AUX
fbem-21419	75	161	used	use	VERB
fbem-21419	75	162	as	as	ADP
fbem-21419	75	163	the	the	DET
fbem-21419	75	164	basis	basis	NOUN
fbem-21419	75	165	for	for	ADP
fbem-21419	75	166	the	the	DET
fbem-21419	75	167	calculation	calculation	NOUN
fbem-21419	75	168	of	of	ADP
fbem-21419	75	169	after	after	ADP
fbem-21419	75	170	-	-	PUNCT
fbem-21419	75	171	tax	tax	NOUN
fbem-21419	75	172	debt	debt	NOUN
fbem-21419	75	173	capital	capital	NOUN
fbem-21419	75	174	in	in	ADP
fbem-21419	75	175	this	this	DET
fbem-21419	75	176	paper	paper	NOUN
fbem-21419	75	177	.	.	PUNCT
fbem-21419	76	1	the	the	DET
fbem-21419	76	2	calculation	calculation	NOUN
fbem-21419	76	3	results	result	NOUN
fbem-21419	76	4	of	of	ADP
fbem-21419	76	5	kweichow	kweichow	PROPN
fbem-21419	76	6	moutai	moutai	PROPN
fbem-21419	76	7	's	's	PART
fbem-21419	76	8	after	after	ADP
fbem-21419	76	9	-	-	PUNCT
fbem-21419	76	10	tax	tax	NOUN
fbem-21419	76	11	bond	bond	NOUN
fbem-21419	76	12	capital	capital	NOUN
fbem-21419	76	13	cost	cost	NOUN
fbem-21419	76	14	from	from	ADP
fbem-21419	76	15	2019	2019	NUM
fbem-21419	76	16	to	to	ADP
fbem-21419	76	17	2023	2023	NUM
fbem-21419	76	18	are	be	AUX
fbem-21419	76	19	shown	show	VERB
fbem-21419	76	20	in	in	ADP
fbem-21419	76	21	table	table	NOUN
fbem-21419	76	22	9	9	NUM
fbem-21419	76	23	.	.	PUNCT
fbem-21419	76	24	table	table	NOUN
fbem-21419	76	25	9	9	NUM
fbem-21419	76	26	.	.	PUNCT
fbem-21419	77	1	statement	statement	NOUN
fbem-21419	77	2	of	of	ADP
fbem-21419	77	3	calculation	calculation	NOUN
fbem-21419	77	4	of	of	ADP
fbem-21419	77	5	capital	capital	NOUN
fbem-21419	77	6	cost	cost	NOUN
fbem-21419	77	7	of	of	ADP
fbem-21419	77	8	kweichow	kweichow	PROPN
fbem-21419	77	9	moutai	moutai	PROPN
fbem-21419	77	10	's	's	PART
fbem-21419	77	11	bonds	bond	NOUN
fbem-21419	77	12	after	after	ADP
fbem-21419	77	13	tax	tax	NOUN
fbem-21419	77	14	for	for	ADP
fbem-21419	77	15	2019	2019	NUM
fbem-21419	77	16	-	-	SYM
fbem-21419	77	17	2023	2023	NUM
fbem-21419	77	18	time	time	NOUN
fbem-21419	77	19	2019	2019	NUM
fbem-21419	77	20	2020	2020	NUM
fbem-21419	77	21	2021	2021	NUM
fbem-21419	77	22	2022	2022	NUM
fbem-21419	77	23	2023	2023	NUM
fbem-21419	77	24	one	one	NUM
fbem-21419	77	25	-	-	PUNCT
fbem-21419	77	26	year	year	NOUN
fbem-21419	77	27	bank	bank	NOUN
fbem-21419	77	28	lending	lending	NOUN
fbem-21419	77	29	rate	rate	NOUN
fbem-21419	77	30	4.35	4.35	NUM
fbem-21419	77	31	%	%	NOUN
fbem-21419	77	32	4.35	4.35	NUM
fbem-21419	77	33	%	%	NOUN
fbem-21419	77	34	4.35	4.35	NUM
fbem-21419	77	35	%	%	NOUN
fbem-21419	77	36	4.35	4.35	NUM
fbem-21419	77	37	%	%	NOUN
fbem-21419	77	38	4.35	4.35	NUM
fbem-21419	77	39	%	%	NOUN
fbem-21419	77	40	income	income	NOUN
fbem-21419	77	41	tax	tax	NOUN
fbem-21419	77	42	rate	rate	NOUN
fbem-21419	77	43	25	25	NUM
fbem-21419	77	44	%	%	NOUN
fbem-21419	77	45	25	25	NUM
fbem-21419	77	46	%	%	NOUN
fbem-21419	77	47	25	25	NUM
fbem-21419	77	48	%	%	NOUN
fbem-21419	77	49	25	25	NUM
fbem-21419	77	50	%	%	NOUN
fbem-21419	77	51	25	25	NUM
fbem-21419	77	52	%	%	NOUN
fbem-21419	77	53	after	after	ADP
fbem-21419	77	54	-	-	PUNCT
fbem-21419	77	55	tax	tax	NOUN
fbem-21419	77	56	cost	cost	NOUN
fbem-21419	77	57	of	of	ADP
fbem-21419	77	58	bond	bond	NOUN
fbem-21419	77	59	capital	capital	NOUN
fbem-21419	77	60	3.26	3.26	NUM
fbem-21419	77	61	%	%	NOUN
fbem-21419	77	62	3.26	3.26	NUM
fbem-21419	77	63	%	%	NOUN
fbem-21419	77	64	3.26	3.26	NUM
fbem-21419	77	65	%	%	NOUN
fbem-21419	77	66	3.26	3.26	NUM
fbem-21419	77	67	%	%	NOUN
fbem-21419	77	68	3.26	3.26	NUM
fbem-21419	77	69	%	%	NOUN
fbem-21419	77	70	(	(	PUNCT
fbem-21419	77	71	2	2	NUM
fbem-21419	77	72	)	)	PUNCT
fbem-21419	77	73	cost	cost	NOUN
fbem-21419	77	74	of	of	ADP
fbem-21419	77	75	equity	equity	NOUN
fbem-21419	77	76	capital	capital	NOUN
fbem-21419	77	77	in	in	ADP
fbem-21419	77	78	general	general	ADJ
fbem-21419	78	1	,	,	PUNCT
fbem-21419	78	2	the	the	DET
fbem-21419	78	3	cost	cost	NOUN
fbem-21419	78	4	of	of	ADP
fbem-21419	78	5	equity	equity	NOUN
fbem-21419	78	6	capital	capital	NOUN
fbem-21419	78	7	refers	refer	VERB
fbem-21419	78	8	to	to	ADP
fbem-21419	78	9	the	the	DET
fbem-21419	78	10	opportunity	opportunity	NOUN
fbem-21419	78	11	cost	cost	NOUN
fbem-21419	78	12	of	of	ADP
fbem-21419	78	13	shareholders	shareholder	NOUN
fbem-21419	78	14	.	.	PUNCT
fbem-21419	79	1	the	the	DET
fbem-21419	79	2	capital	capital	NOUN
fbem-21419	79	3	asset	asset	NOUN
fbem-21419	79	4	pricing	pricing	NOUN
fbem-21419	79	5	model	model	NOUN
fbem-21419	79	6	is	be	AUX
fbem-21419	79	7	chosen	choose	VERB
fbem-21419	79	8	in	in	ADP
fbem-21419	79	9	this	this	DET
fbem-21419	79	10	paper	paper	NOUN
fbem-21419	79	11	,	,	PUNCT
fbem-21419	79	12	and	and	CCONJ
fbem-21419	79	13	its	its	PRON
fbem-21419	79	14	calculation	calculation	NOUN
fbem-21419	79	15	formula	formula	NOUN
fbem-21419	79	16	is	be	AUX
fbem-21419	79	17	as	as	SCONJ
fbem-21419	79	18	follows	follow	VERB
fbem-21419	79	19	:	:	PUNCT
fbem-21419	80	1	cost	cost	NOUN
fbem-21419	80	2	of	of	ADP
fbem-21419	80	3	equity	equity	NOUN
fbem-21419	80	4	capital	capital	NOUN
fbem-21419	80	5	=	=	NOUN
fbem-21419	80	6	risk	risk	NOUN
fbem-21419	80	7	-	-	PUNCT
fbem-21419	80	8	free	free	ADJ
fbem-21419	80	9	rate+risk	rate+risk	NOUN
fbem-21419	80	10	factor×market	factor×market	ADJ
fbem-21419	80	11	risk	risk	NOUN
fbem-21419	80	12	premium	premium	NOUN
fbem-21419	80	13	the	the	DET
fbem-21419	80	14	risk	risk	NOUN
fbem-21419	80	15	-	-	PUNCT
fbem-21419	80	16	free	free	ADJ
fbem-21419	80	17	rate	rate	NOUN
fbem-21419	80	18	of	of	ADP
fbem-21419	80	19	return	return	NOUN
fbem-21419	80	20	in	in	ADP
fbem-21419	80	21	this	this	DET
fbem-21419	80	22	paper	paper	NOUN
fbem-21419	80	23	is	be	AUX
fbem-21419	80	24	the	the	DET
fbem-21419	80	25	one	one	NUM
fbem-21419	80	26	-	-	PUNCT
fbem-21419	80	27	year	year	NOUN
fbem-21419	80	28	deposit	deposit	NOUN
fbem-21419	80	29	rate	rate	NOUN
fbem-21419	80	30	of	of	ADP
fbem-21419	80	31	the	the	DET
fbem-21419	80	32	bank	bank	NOUN
fbem-21419	80	33	.	.	PUNCT
fbem-21419	81	1	the	the	DET
fbem-21419	81	2	risk	risk	NOUN
fbem-21419	81	3	factor	factor	NOUN
fbem-21419	81	4	is	be	AUX
fbem-21419	81	5	the	the	DET
fbem-21419	81	6	beta	beta	ADJ
fbem-21419	81	7	value	value	NOUN
fbem-21419	81	8	weighted	weight	VERB
fbem-21419	81	9	by	by	ADP
fbem-21419	81	10	the	the	DET
fbem-21419	81	11	circulating	circulate	VERB
fbem-21419	81	12	market	market	NOUN
fbem-21419	81	13	value	value	NOUN
fbem-21419	81	14	of	of	ADP
fbem-21419	81	15	shanghai	shanghai	PROPN
fbem-21419	81	16	and	and	CCONJ
fbem-21419	81	17	shenzhen	shenzhen	PROPN
fbem-21419	81	18	stocks	stock	NOUN
fbem-21419	81	19	in	in	ADP
fbem-21419	81	20	250	250	NUM
fbem-21419	81	21	trading	trading	NOUN
fbem-21419	81	22	days	day	NOUN
fbem-21419	81	23	in	in	ADP
fbem-21419	81	24	the	the	DET
fbem-21419	81	25	database	database	NOUN
fbem-21419	81	26	of	of	ADP
fbem-21419	81	27	guotai	guotai	PROPN
fbem-21419	81	28	'	'	PUNCT
fbem-21419	81	29	an	an	NOUN
fbem-21419	81	30	.	.	PUNCT
fbem-21419	82	1	the	the	DET
fbem-21419	82	2	market	market	NOUN
fbem-21419	82	3	risk	risk	NOUN
fbem-21419	82	4	premium	premium	NOUN
fbem-21419	82	5	is	be	AUX
fbem-21419	82	6	4	4	NUM
fbem-21419	82	7	%	%	NOUN
fbem-21419	82	8	.	.	PUNCT
fbem-21419	83	1	the	the	DET
fbem-21419	83	2	calculation	calculation	NOUN
fbem-21419	83	3	results	result	NOUN
fbem-21419	83	4	of	of	ADP
fbem-21419	83	5	kweichow	kweichow	PROPN
fbem-21419	83	6	moutai	moutai	PROPN
fbem-21419	83	7	's	's	PART
fbem-21419	83	8	cost	cost	NOUN
fbem-21419	83	9	of	of	ADP
fbem-21419	83	10	equity	equity	NOUN
fbem-21419	83	11	capital	capital	NOUN
fbem-21419	83	12	from	from	ADP
fbem-21419	83	13	2019	2019	NUM
fbem-21419	83	14	to	to	ADP
fbem-21419	83	15	2023	2023	NUM
fbem-21419	83	16	are	be	AUX
fbem-21419	83	17	shown	show	VERB
fbem-21419	83	18	in	in	ADP
fbem-21419	83	19	table	table	NOUN
fbem-21419	83	20	10	10	NUM
fbem-21419	83	21	.	.	PUNCT
fbem-21419	83	22	table	table	NOUN
fbem-21419	83	23	10	10	NUM
fbem-21419	83	24	.	.	PUNCT
fbem-21419	84	1	statement	statement	NOUN
fbem-21419	84	2	of	of	ADP
fbem-21419	84	3	calculation	calculation	NOUN
fbem-21419	84	4	of	of	ADP
fbem-21419	84	5	cost	cost	NOUN
fbem-21419	84	6	of	of	ADP
fbem-21419	84	7	equity	equity	NOUN
fbem-21419	84	8	capital	capital	NOUN
fbem-21419	84	9	of	of	ADP
fbem-21419	84	10	kweichow	kweichow	PROPN
fbem-21419	84	11	moutai	moutai	NOUN
fbem-21419	84	12	for	for	ADP
fbem-21419	84	13	2019	2019	NUM
fbem-21419	84	14	-	-	SYM
fbem-21419	84	15	2023	2023	NUM
fbem-21419	84	16	time	time	NOUN
fbem-21419	84	17	2019	2019	NUM
fbem-21419	84	18	2020	2020	NUM
fbem-21419	84	19	2021	2021	NUM
fbem-21419	84	20	2022	2022	NUM
fbem-21419	84	21	2023	2023	NUM
fbem-21419	84	22	risk	risk	NOUN
fbem-21419	84	23	-	-	PUNCT
fbem-21419	84	24	free	free	ADJ
fbem-21419	84	25	rate	rate	NOUN
fbem-21419	84	26	1.50	1.50	NUM
fbem-21419	84	27	%	%	NOUN
fbem-21419	84	28	1.50	1.50	NUM
fbem-21419	84	29	%	%	NOUN
fbem-21419	84	30	1.50	1.50	NUM
fbem-21419	84	31	%	%	NOUN
fbem-21419	84	32	1.50	1.50	NUM
fbem-21419	84	33	%	%	NOUN
fbem-21419	84	34	1.50	1.50	NUM
fbem-21419	84	35	%	%	NOUN
fbem-21419	84	36	risk	risk	NOUN
fbem-21419	84	37	factor	factor	NOUN
fbem-21419	84	38	0.93	0.93	NUM
fbem-21419	84	39	0.86	0.86	NUM
fbem-21419	84	40	1.24	1.24	NUM
fbem-21419	84	41	1.00	1.00	NUM
fbem-21419	84	42	0.89	0.89	NUM
fbem-21419	84	43	market	market	NOUN
fbem-21419	84	44	risk	risk	NOUN
fbem-21419	84	45	premium	premium	NOUN
fbem-21419	84	46	4.00	4.00	NUM
fbem-21419	84	47	%	%	NOUN
fbem-21419	84	48	4.00	4.00	NUM
fbem-21419	84	49	%	%	NOUN
fbem-21419	84	50	4.00	4.00	NUM
fbem-21419	84	51	%	%	NOUN
fbem-21419	84	52	4.00	4.00	NUM
fbem-21419	84	53	%	%	NOUN
fbem-21419	84	54	4.00	4.00	NUM
fbem-21419	84	55	%	%	NOUN
fbem-21419	84	56	cost	cost	NOUN
fbem-21419	84	57	of	of	ADP
fbem-21419	84	58	equity	equity	NOUN
fbem-21419	84	59	capital	capital	NOUN
fbem-21419	84	60	5.23	5.23	NUM
fbem-21419	84	61	%	%	NOUN
fbem-21419	84	62	4.94	4.94	NUM
fbem-21419	84	63	%	%	NOUN
fbem-21419	84	64	6.48	6.48	NUM
fbem-21419	84	65	%	%	NOUN
fbem-21419	84	66	5.50	5.50	NUM
fbem-21419	84	67	%	%	NOUN
fbem-21419	84	68	5.07	5.07	NUM
fbem-21419	84	69	%	%	NOUN
fbem-21419	84	70	144	144	NUM
fbem-21419	84	71	(	(	PUNCT
fbem-21419	84	72	3	3	NUM
fbem-21419	84	73	)	)	PUNCT
fbem-21419	84	74	weighted	weight	VERB
fbem-21419	84	75	average	average	ADJ
fbem-21419	84	76	cost	cost	NOUN
fbem-21419	84	77	of	of	ADP
fbem-21419	84	78	capital	capital	NOUN
fbem-21419	84	79	the	the	DET
fbem-21419	84	80	calculation	calculation	NOUN
fbem-21419	84	81	results	result	NOUN
fbem-21419	84	82	of	of	ADP
fbem-21419	84	83	kweichow	kweichow	PROPN
fbem-21419	84	84	moutai	moutai	PROPN
fbem-21419	84	85	's	's	PART
fbem-21419	84	86	weighted	weight	VERB
fbem-21419	84	87	average	average	ADJ
fbem-21419	84	88	cost	cost	NOUN
fbem-21419	84	89	of	of	ADP
fbem-21419	84	90	capital	capital	NOUN
fbem-21419	84	91	from	from	ADP
fbem-21419	84	92	2019	2019	NUM
fbem-21419	84	93	to	to	ADP
fbem-21419	84	94	2023	2023	NUM
fbem-21419	84	95	are	be	AUX
fbem-21419	84	96	shown	show	VERB
fbem-21419	84	97	in	in	ADP
fbem-21419	84	98	table	table	NOUN
fbem-21419	84	99	11	11	NUM
fbem-21419	84	100	.	.	PUNCT
fbem-21419	85	1	table	table	NOUN
fbem-21419	85	2	11	11	NUM
fbem-21419	85	3	.	.	PUNCT
fbem-21419	86	1	calculation	calculation	NOUN
fbem-21419	86	2	table	table	NOUN
fbem-21419	86	3	of	of	ADP
fbem-21419	86	4	weighted	weight	VERB
fbem-21419	86	5	average	average	ADJ
fbem-21419	86	6	cost	cost	NOUN
fbem-21419	86	7	of	of	ADP
fbem-21419	86	8	capital	capital	NOUN
fbem-21419	86	9	of	of	ADP
fbem-21419	86	10	kweichow	kweichow	PROPN
fbem-21419	86	11	moutai	moutai	NOUN
fbem-21419	86	12	for	for	ADP
fbem-21419	86	13	2019	2019	NUM
fbem-21419	86	14	-	-	SYM
fbem-21419	86	15	2023	2023	NUM
fbem-21419	86	16	time	time	NOUN
fbem-21419	86	17	2019	2019	NUM
fbem-21419	86	18	2020	2020	NUM
fbem-21419	86	19	2021	2021	NUM
fbem-21419	86	20	2022	2022	NUM
fbem-21419	86	21	2023	2023	NUM
fbem-21419	86	22	after	after	ADP
fbem-21419	86	23	-	-	PUNCT
fbem-21419	86	24	tax	tax	NOUN
fbem-21419	86	25	cost	cost	NOUN
fbem-21419	86	26	of	of	ADP
fbem-21419	86	27	debt	debt	NOUN
fbem-21419	86	28	capital	capital	NOUN
fbem-21419	86	29	3.26	3.26	NUM
fbem-21419	86	30	%	%	NOUN
fbem-21419	86	31	3.26	3.26	NUM
fbem-21419	86	32	%	%	NOUN
fbem-21419	86	33	3.26	3.26	NUM
fbem-21419	86	34	%	%	NOUN
fbem-21419	86	35	3.26	3.26	NUM
fbem-21419	86	36	%	%	NOUN
fbem-21419	86	37	3.26	3.26	NUM
fbem-21419	86	38	%	%	NOUN
fbem-21419	86	39	debt	debt	NOUN
fbem-21419	86	40	capital	capital	NOUN
fbem-21419	86	41	/	/	SYM
fbem-21419	86	42	total	total	NOUN
fbem-21419	86	43	capital	capital	NOUN
fbem-21419	86	44	0.00	0.00	NUM
fbem-21419	86	45	%	%	NOUN
fbem-21419	86	46	0.00	0.00	NUM
fbem-21419	86	47	%	%	NOUN
fbem-21419	86	48	0.05	0.05	NUM
fbem-21419	86	49	%	%	NOUN
fbem-21419	86	50	0.05	0.05	NUM
fbem-21419	86	51	%	%	NOUN
fbem-21419	86	52	0.03	0.03	NUM
fbem-21419	86	53	%	%	NOUN
fbem-21419	86	54	cost	cost	NOUN
fbem-21419	86	55	of	of	ADP
fbem-21419	86	56	equity	equity	NOUN
fbem-21419	86	57	capital	capital	NOUN
fbem-21419	86	58	5.23	5.23	NUM
fbem-21419	86	59	%	%	NOUN
fbem-21419	86	60	4.94	4.94	NUM
fbem-21419	86	61	%	%	NOUN
fbem-21419	86	62	6.48	6.48	NUM
fbem-21419	86	63	%	%	NOUN
fbem-21419	86	64	5.50	5.50	NUM
fbem-21419	86	65	%	%	NOUN
fbem-21419	86	66	5.07	5.07	NUM
fbem-21419	86	67	%	%	NOUN
fbem-21419	86	68	equity	equity	NOUN
fbem-21419	86	69	capital	capital	NOUN
fbem-21419	86	70	/	/	SYM
fbem-21419	86	71	total	total	ADJ
fbem-21419	86	72	capital	capital	NOUN
fbem-21419	86	73	100.00	100.00	NUM
fbem-21419	86	74	%	%	NOUN
fbem-21419	86	75	100.00	100.00	NUM
fbem-21419	86	76	%	%	NOUN
fbem-21419	86	77	99.95	99.95	NUM
fbem-21419	86	78	%	%	NOUN
fbem-21419	86	79	99.95	99.95	NUM
fbem-21419	86	80	%	%	NOUN
fbem-21419	86	81	99.97	99.97	NUM
fbem-21419	86	82	%	%	NOUN
fbem-21419	86	83	weighted	weight	VERB
fbem-21419	86	84	average	average	ADJ
fbem-21419	86	85	cost	cost	NOUN
fbem-21419	86	86	of	of	ADP
fbem-21419	86	87	capital	capital	NOUN
fbem-21419	86	88	5.23	5.23	NUM
fbem-21419	86	89	%	%	NOUN
fbem-21419	86	90	4.94	4.94	NUM
fbem-21419	86	91	%	%	NOUN
fbem-21419	86	92	6.48	6.48	NUM
fbem-21419	86	93	%	%	NOUN
fbem-21419	86	94	5.50	5.50	NUM
fbem-21419	86	95	%	%	NOUN
fbem-21419	86	96	5.07	5.07	NUM
fbem-21419	86	97	%	%	NOUN
fbem-21419	86	98	3.1.4	3.1.4	NUM
fbem-21419	86	99	.	.	PUNCT
fbem-21419	87	1	economic	economic	ADJ
fbem-21419	87	2	value	value	NOUN
fbem-21419	87	3	added	add	VERB
fbem-21419	87	4	as	as	SCONJ
fbem-21419	87	5	can	can	AUX
fbem-21419	87	6	be	be	AUX
fbem-21419	87	7	seen	see	VERB
fbem-21419	87	8	from	from	ADP
fbem-21419	87	9	table	table	NOUN
fbem-21419	87	10	12	12	NUM
fbem-21419	87	11	,	,	PUNCT
fbem-21419	87	12	the	the	DET
fbem-21419	87	13	economic	economic	ADJ
fbem-21419	87	14	added	add	VERB
fbem-21419	87	15	value	value	NOUN
fbem-21419	87	16	index	index	NOUN
fbem-21419	87	17	of	of	ADP
fbem-21419	87	18	kweichow	kweichow	PROPN
fbem-21419	87	19	moutai	moutai	NOUN
fbem-21419	87	20	from	from	ADP
fbem-21419	87	21	2019	2019	NUM
fbem-21419	87	22	to	to	ADP
fbem-21419	87	23	2023	2023	NUM
fbem-21419	87	24	continues	continue	VERB
fbem-21419	87	25	to	to	PART
fbem-21419	87	26	show	show	VERB
fbem-21419	87	27	a	a	DET
fbem-21419	87	28	positive	positive	ADJ
fbem-21419	87	29	trend	trend	NOUN
fbem-21419	87	30	,	,	PUNCT
fbem-21419	87	31	that	that	ADV
fbem-21419	87	32	is	is	ADV
fbem-21419	87	33	,	,	PUNCT
fbem-21419	87	34	the	the	DET
fbem-21419	87	35	annual	annual	ADJ
fbem-21419	87	36	economic	economic	ADJ
fbem-21419	87	37	added	add	VERB
fbem-21419	87	38	value	value	NOUN
fbem-21419	87	39	is	be	AUX
fbem-21419	87	40	positive	positive	ADJ
fbem-21419	87	41	.	.	PUNCT
fbem-21419	88	1	the	the	DET
fbem-21419	88	2	continuous	continuous	ADJ
fbem-21419	88	3	positive	positive	ADJ
fbem-21419	88	4	state	state	NOUN
fbem-21419	88	5	of	of	ADP
fbem-21419	88	6	economic	economic	ADJ
fbem-21419	88	7	value	value	NOUN
fbem-21419	88	8	added	add	VERB
fbem-21419	88	9	over	over	ADP
fbem-21419	88	10	the	the	DET
fbem-21419	88	11	past	past	ADJ
fbem-21419	88	12	five	five	NUM
fbem-21419	88	13	years	year	NOUN
fbem-21419	88	14	strongly	strongly	ADV
fbem-21419	88	15	confirms	confirm	VERB
fbem-21419	88	16	kweichow	kweichow	PROPN
fbem-21419	88	17	moutai	moutai	PROPN
fbem-21419	88	18	's	's	PART
fbem-21419	88	19	excellent	excellent	ADJ
fbem-21419	88	20	operating	operating	NOUN
fbem-21419	88	21	efficiency	efficiency	NOUN
fbem-21419	88	22	and	and	CCONJ
fbem-21419	88	23	profitability	profitability	NOUN
fbem-21419	88	24	during	during	ADP
fbem-21419	88	25	this	this	DET
fbem-21419	88	26	period	period	NOUN
fbem-21419	88	27	.	.	PUNCT
fbem-21419	89	1	this	this	PRON
fbem-21419	89	2	means	mean	VERB
fbem-21419	89	3	that	that	SCONJ
fbem-21419	89	4	whether	whether	SCONJ
fbem-21419	89	5	it	it	PRON
fbem-21419	89	6	is	be	AUX
fbem-21419	89	7	internal	internal	ADJ
fbem-21419	89	8	management	management	NOUN
fbem-21419	89	9	,	,	PUNCT
fbem-21419	89	10	cost	cost	NOUN
fbem-21419	89	11	control	control	NOUN
fbem-21419	89	12	or	or	CCONJ
fbem-21419	89	13	market	market	NOUN
fbem-21419	89	14	expansion	expansion	NOUN
fbem-21419	89	15	,	,	PUNCT
fbem-21419	89	16	kweichow	kweichow	PROPN
fbem-21419	89	17	moutai	moutai	PROPN
fbem-21419	89	18	has	have	AUX
fbem-21419	89	19	performed	perform	VERB
fbem-21419	89	20	well	well	ADV
fbem-21419	89	21	and	and	CCONJ
fbem-21419	89	22	effectively	effectively	ADV
fbem-21419	89	23	used	use	VERB
fbem-21419	89	24	its	its	PRON
fbem-21419	89	25	capital	capital	NOUN
fbem-21419	89	26	to	to	PART
fbem-21419	89	27	ensure	ensure	VERB
fbem-21419	89	28	that	that	SCONJ
fbem-21419	89	29	it	it	PRON
fbem-21419	89	30	can	can	AUX
fbem-21419	89	31	still	still	ADV
fbem-21419	89	32	create	create	VERB
fbem-21419	89	33	additional	additional	ADJ
fbem-21419	89	34	economic	economic	ADJ
fbem-21419	89	35	benefits	benefit	NOUN
fbem-21419	89	36	after	after	ADP
fbem-21419	89	37	removing	remove	VERB
fbem-21419	89	38	the	the	DET
fbem-21419	89	39	due	due	ADJ
fbem-21419	89	40	cost	cost	NOUN
fbem-21419	89	41	of	of	ADP
fbem-21419	89	42	capital	capital	NOUN
fbem-21419	89	43	every	every	DET
fbem-21419	89	44	year	year	NOUN
fbem-21419	89	45	.	.	PUNCT
fbem-21419	90	1	these	these	DET
fbem-21419	90	2	results	result	NOUN
fbem-21419	90	3	demonstrate	demonstrate	VERB
fbem-21419	90	4	management	management	NOUN
fbem-21419	90	5	's	's	PART
fbem-21419	90	6	success	success	NOUN
fbem-21419	90	7	in	in	ADP
fbem-21419	90	8	strategic	strategic	ADJ
fbem-21419	90	9	planning	planning	NOUN
fbem-21419	90	10	and	and	CCONJ
fbem-21419	90	11	execution	execution	NOUN
fbem-21419	90	12	,	,	PUNCT
fbem-21419	90	13	as	as	ADV
fbem-21419	90	14	well	well	ADV
fbem-21419	90	15	as	as	ADP
fbem-21419	90	16	a	a	DET
fbem-21419	90	17	responsible	responsible	ADJ
fbem-21419	90	18	approach	approach	NOUN
fbem-21419	90	19	to	to	ADP
fbem-21419	90	20	shareholder	shareholder	NOUN
fbem-21419	90	21	equity	equity	NOUN
fbem-21419	90	22	,	,	PUNCT
fbem-21419	90	23	as	as	SCONJ
fbem-21419	90	24	five	five	NUM
fbem-21419	90	25	consecutive	consecutive	ADJ
fbem-21419	90	26	years	year	NOUN
fbem-21419	90	27	of	of	ADP
fbem-21419	90	28	real	real	ADJ
fbem-21419	90	29	value	value	NOUN
fbem-21419	90	30	growth	growth	NOUN
fbem-21419	90	31	have	have	AUX
fbem-21419	90	32	resulted	result	VERB
fbem-21419	90	33	in	in	ADP
fbem-21419	90	34	substantial	substantial	ADJ
fbem-21419	90	35	wealth	wealth	NOUN
fbem-21419	90	36	accumulation	accumulation	NOUN
fbem-21419	90	37	and	and	CCONJ
fbem-21419	90	38	increased	increase	VERB
fbem-21419	90	39	investment	investment	NOUN
fbem-21419	90	40	returns	return	NOUN
fbem-21419	90	41	for	for	ADP
fbem-21419	90	42	shareholders	shareholder	NOUN
fbem-21419	90	43	.	.	PUNCT
fbem-21419	91	1	table	table	NOUN
fbem-21419	91	2	12	12	NUM
fbem-21419	91	3	.	.	PUNCT
fbem-21419	92	1	calculation	calculation	NOUN
fbem-21419	92	2	table	table	NOUN
fbem-21419	92	3	of	of	ADP
fbem-21419	92	4	economic	economic	ADJ
fbem-21419	92	5	added	add	VERB
fbem-21419	92	6	value	value	NOUN
fbem-21419	92	7	of	of	ADP
fbem-21419	92	8	kweichow	kweichow	PROPN
fbem-21419	92	9	moutai	moutai	NOUN
fbem-21419	92	10	from	from	ADP
fbem-21419	92	11	2019	2019	NUM
fbem-21419	92	12	to	to	ADP
fbem-21419	92	13	2023（unit：million	2023（unit：million	NUM
fbem-21419	92	14	yuan	yuan	PROPN
fbem-21419	92	15	）	）	PROPN
fbem-21419	92	16	time	time	NOUN
fbem-21419	92	17	2019	2019	NUM
fbem-21419	92	18	2020	2020	NUM
fbem-21419	92	19	2021	2021	NUM
fbem-21419	92	20	2022	2022	NUM
fbem-21419	92	21	2023	2023	NUM
fbem-21419	92	22	net	net	ADJ
fbem-21419	92	23	operating	operating	NOUN
fbem-21419	92	24	profit	profit	NOUN
fbem-21419	92	25	after	after	ADP
fbem-21419	92	26	tax	tax	NOUN
fbem-21419	92	27	44250.98	44250.98	NUM
fbem-21419	92	28	49866.95	49866.95	NUM
fbem-21419	92	29	54838.09	54838.09	NUM
fbem-21419	92	30	64483.36	64483.36	NUM
fbem-21419	92	31	76623.08	76623.08	NUM
fbem-21419	92	32	total	total	ADJ
fbem-21419	92	33	capital	capital	NOUN
fbem-21419	92	34	138330.19	138330.19	NUM
fbem-21419	92	35	164151.47	164151.47	NUM
fbem-21419	92	36	192502.63	192502.63	NUM
fbem-21419	92	37	199406.78	199406.78	NUM
fbem-21419	92	38	217009.12	217009.12	NUM
fbem-21419	92	39	weighted	weight	VERB
fbem-21419	92	40	average	average	ADJ
fbem-21419	92	41	cost	cost	NOUN
fbem-21419	92	42	of	of	ADP
fbem-21419	92	43	capital	capital	NOUN
fbem-21419	92	44	5.23	5.23	NUM
fbem-21419	92	45	%	%	NOUN
fbem-21419	92	46	4.94	4.94	NUM
fbem-21419	92	47	%	%	NOUN
fbem-21419	92	48	6.48	6.48	NUM
fbem-21419	92	49	%	%	NOUN
fbem-21419	92	50	5.50	5.50	NUM
fbem-21419	92	51	%	%	NOUN
fbem-21419	92	52	5.07	5.07	NUM
fbem-21419	92	53	%	%	NOUN
fbem-21419	92	54	economic	economic	ADJ
fbem-21419	92	55	value	value	NOUN
fbem-21419	92	56	added	add	VERB
fbem-21419	92	57	37018.82	37018.82	NUM
fbem-21419	92	58	41764.41	41764.41	NUM
fbem-21419	92	59	42369.70	42369.70	NUM
fbem-21419	92	60	53512.82	53512.82	NUM
fbem-21419	92	61	65618.41	65618.41	NUM
fbem-21419	92	62	3.2	3.2	NUM
fbem-21419	92	63	.	.	PUNCT
fbem-21419	93	1	comparative	comparative	ADJ
fbem-21419	93	2	analysis	analysis	NOUN
fbem-21419	93	3	of	of	ADP
fbem-21419	93	4	eva	eva	NOUN
fbem-21419	93	5	and	and	CCONJ
fbem-21419	93	6	traditional	traditional	ADJ
fbem-21419	93	7	financial	financial	ADJ
fbem-21419	93	8	indicators	indicator	NOUN
fbem-21419	93	9	3.2.1	3.2.1	NUM
fbem-21419	93	10	.	.	PUNCT
fbem-21419	94	1	eva	eva	NOUN
fbem-21419	94	2	value	value	NOUN
fbem-21419	94	3	and	and	CCONJ
fbem-21419	94	4	net	net	ADJ
fbem-21419	94	5	profit	profit	NOUN
fbem-21419	94	6	table	table	NOUN
fbem-21419	94	7	13	13	NUM
fbem-21419	94	8	.	.	PUNCT
fbem-21419	95	1	comparison	comparison	NOUN
fbem-21419	95	2	of	of	ADP
fbem-21419	95	3	kweichow	kweichow	PROPN
fbem-21419	95	4	moutai	moutai	PROPN
fbem-21419	95	5	's	's	PART
fbem-21419	95	6	eva	eva	NOUN
fbem-21419	95	7	value	value	NOUN
fbem-21419	95	8	and	and	CCONJ
fbem-21419	95	9	net	net	ADJ
fbem-21419	95	10	profit	profit	NOUN
fbem-21419	95	11	in	in	ADP
fbem-21419	95	12	2019	2019	NUM
fbem-21419	95	13	-	-	SYM
fbem-21419	95	14	2023	2023	NUM
fbem-21419	95	15	(	(	PUNCT
fbem-21419	95	16	unit	unit	NOUN
fbem-21419	95	17	:	:	PUNCT
fbem-21419	95	18	million	million	NUM
fbem-21419	95	19	yuan	yuan	NOUN
fbem-21419	95	20	)	)	PUNCT
fbem-21419	95	21	time	time	NOUN
fbem-21419	95	22	2019	2019	NUM
fbem-21419	95	23	2020	2020	NUM
fbem-21419	95	24	2021	2021	NUM
fbem-21419	95	25	2022	2022	NUM
fbem-21419	95	26	2023	2023	NUM
fbem-21419	95	27	eva	eva	PROPN
fbem-21419	95	28	37018.82	37018.82	NUM
fbem-21419	95	29	41764.41	41764.41	NUM
fbem-21419	95	30	42369.70	42369.70	NUM
fbem-21419	95	31	53512.82	53512.82	NUM
fbem-21419	95	32	65618.41	65618.41	NUM
fbem-21419	95	33	net	net	ADJ
fbem-21419	95	34	profit	profit	NOUN
fbem-21419	95	35	43970.00	43970.00	NUM
fbem-21419	95	36	49523.33	49523.33	NUM
fbem-21419	95	37	55720.53	55720.53	NUM
fbem-21419	95	38	65375.14	65375.14	NUM
fbem-21419	95	39	77521.48	77521.48	NUM
fbem-21419	95	40	figure	figure	NOUN
fbem-21419	95	41	1	1	NUM
fbem-21419	95	42	.	.	PUNCT
fbem-21419	96	1	kweichow	kweichow	INTJ
fbem-21419	96	2	moutai	moutai	PROPN
fbem-21419	96	3	2019	2019	NUM
fbem-21419	96	4	-	-	SYM
fbem-21419	96	5	2023	2023	NUM
fbem-21419	96	6	net	net	ADJ
fbem-21419	96	7	profit	profit	NOUN
fbem-21419	96	8	and	and	CCONJ
fbem-21419	96	9	eva	eva	NOUN
fbem-21419	96	10	as	as	SCONJ
fbem-21419	96	11	can	can	AUX
fbem-21419	96	12	be	be	AUX
fbem-21419	96	13	seen	see	VERB
fbem-21419	96	14	from	from	ADP
fbem-21419	96	15	table	table	NOUN
fbem-21419	96	16	13	13	NUM
fbem-21419	96	17	and	and	CCONJ
fbem-21419	96	18	figure	figure	VERB
fbem-21419	96	19	1	1	NUM
fbem-21419	96	20	,	,	PUNCT
fbem-21419	96	21	compared	compare	VERB
fbem-21419	96	22	with	with	ADP
fbem-21419	96	23	the	the	DET
fbem-21419	96	24	pure	pure	ADJ
fbem-21419	96	25	net	net	ADJ
fbem-21419	96	26	profit	profit	NOUN
fbem-21419	96	27	,	,	PUNCT
fbem-21419	96	28	the	the	DET
fbem-21419	96	29	calculation	calculation	NOUN
fbem-21419	96	30	of	of	ADP
fbem-21419	96	31	eva	eva	NOUN
fbem-21419	96	32	takes	take	VERB
fbem-21419	96	33	into	into	ADP
fbem-21419	96	34	account	account	NOUN
fbem-21419	96	35	the	the	DET
fbem-21419	96	36	cost	cost	NOUN
fbem-21419	96	37	of	of	ADP
fbem-21419	96	38	equity	equity	NOUN
fbem-21419	96	39	capital	capital	NOUN
fbem-21419	96	40	,	,	PUNCT
fbem-21419	96	41	resulting	result	VERB
fbem-21419	96	42	in	in	ADP
fbem-21419	96	43	the	the	DET
fbem-21419	96	44	amount	amount	NOUN
fbem-21419	96	45	of	of	ADP
fbem-21419	96	46	eva	eva	NOUN
fbem-21419	96	47	usually	usually	ADV
fbem-21419	96	48	less	less	ADJ
fbem-21419	96	49	than	than	ADP
fbem-21419	96	50	the	the	DET
fbem-21419	96	51	amount	amount	NOUN
fbem-21419	96	52	of	of	ADP
fbem-21419	96	53	net	net	ADJ
fbem-21419	96	54	profit	profit	NOUN
fbem-21419	96	55	.	.	PUNCT
fbem-21419	97	1	especially	especially	ADV
fbem-21419	97	2	in	in	ADP
fbem-21419	97	3	2021	2021	NUM
fbem-21419	97	4	,	,	PUNCT
fbem-21419	97	5	this	this	DET
fbem-21419	97	6	difference	difference	NOUN
fbem-21419	97	7	reached	reach	VERB
fbem-21419	97	8	the	the	DET
fbem-21419	97	9	maximum	maximum	ADJ
fbem-21419	97	10	,	,	PUNCT
fbem-21419	97	11	the	the	DET
fbem-21419	97	12	enterprise	enterprise	NOUN
fbem-21419	97	13	achieved	achieve	VERB
fbem-21419	97	14	a	a	DET
fbem-21419	97	15	net	net	ADJ
fbem-21419	97	16	profit	profit	NOUN
fbem-21419	97	17	of	of	ADP
fbem-21419	97	18	55,720.53	55,720.53	PROPN
fbem-21419	97	19	million	million	NUM
fbem-21419	97	20	yuan	yuan	NOUN
fbem-21419	97	21	in	in	ADP
fbem-21419	97	22	the	the	DET
fbem-21419	97	23	accounting	accounting	NOUN
fbem-21419	97	24	sense	sense	NOUN
fbem-21419	97	25	,	,	PUNCT
fbem-21419	97	26	but	but	CCONJ
fbem-21419	97	27	after	after	ADP
fbem-21419	97	28	taking	take	VERB
fbem-21419	97	29	into	into	ADP
fbem-21419	97	30	account	account	NOUN
fbem-21419	97	31	the	the	DET
fbem-21419	97	32	cost	cost	NOUN
fbem-21419	97	33	of	of	ADP
fbem-21419	97	34	capital	capital	NOUN
fbem-21419	97	35	,	,	PUNCT
fbem-21419	97	36	in	in	ADP
fbem-21419	97	37	fact	fact	NOUN
fbem-21419	97	38	,	,	PUNCT
fbem-21419	97	39	only	only	ADV
fbem-21419	97	40	42,369.70	42,369.70	NUM
fbem-21419	97	41	million	million	NUM
fbem-21419	97	42	yuan	yuan	NOUN
fbem-21419	97	43	of	of	ADP
fbem-21419	97	44	economic	economic	ADJ
fbem-21419	97	45	added	add	VERB
fbem-21419	97	46	value	value	NOUN
fbem-21419	97	47	,	,	PUNCT
fbem-21419	97	48	which	which	PRON
fbem-21419	97	49	means	mean	VERB
fbem-21419	97	50	that	that	SCONJ
fbem-21419	97	51	although	although	SCONJ
fbem-21419	97	52	the	the	DET
fbem-21419	97	53	book	book	NOUN
fbem-21419	97	54	shows	show	VERB
fbem-21419	97	55	that	that	SCONJ
fbem-21419	97	56	the	the	DET
fbem-21419	97	57	enterprise	enterprise	NOUN
fbem-21419	97	58	has	have	AUX
fbem-21419	97	59	obtained	obtain	VERB
fbem-21419	97	60	a	a	DET
fbem-21419	97	61	huge	huge	ADJ
fbem-21419	97	62	profit	profit	NOUN
fbem-21419	97	63	,	,	PUNCT
fbem-21419	97	64	relative	relative	ADJ
fbem-21419	97	65	to	to	ADP
fbem-21419	97	66	the	the	DET
fbem-21419	97	67	total	total	ADJ
fbem-21419	97	68	amount	amount	NOUN
fbem-21419	97	69	of	of	ADP
fbem-21419	97	70	capital	capital	NOUN
fbem-21419	97	71	used	use	VERB
fbem-21419	97	72	,	,	PUNCT
fbem-21419	97	73	the	the	DET
fbem-21419	97	74	real	real	ADJ
fbem-21419	97	75	economic	economic	ADJ
fbem-21419	97	76	value	value	NOUN
fbem-21419	97	77	created	create	VERB
fbem-21419	97	78	by	by	ADP
fbem-21419	97	79	enterprises	enterprise	NOUN
fbem-21419	97	80	is	be	AUX
fbem-21419	97	81	not	not	PART
fbem-21419	97	82	so	so	ADV
fbem-21419	97	83	much	much	ADV
fbem-21419	97	84	as	as	ADP
fbem-21419	97	85	accounting	accounting	NOUN
fbem-21419	97	86	profits	profit	NOUN
fbem-21419	97	87	.	.	PUNCT
fbem-21419	98	1	however	however	ADV
fbem-21419	98	2	,	,	PUNCT
fbem-21419	98	3	from	from	ADP
fbem-21419	98	4	2018	2018	NUM
fbem-21419	98	5	to	to	ADP
fbem-21419	98	6	2023	2023	NUM
fbem-21419	98	7	,	,	PUNCT
fbem-21419	98	8	both	both	DET
fbem-21419	98	9	kweichow	kweichow	PROPN
fbem-21419	98	10	moutai	moutai	PROPN
fbem-21419	98	11	's	's	PART
fbem-21419	98	12	eva	eva	PROPN
fbem-21419	98	13	and	and	CCONJ
fbem-21419	98	14	net	net	ADJ
fbem-21419	98	15	profit	profit	NOUN
fbem-21419	98	16	showed	show	VERB
fbem-21419	98	17	a	a	DET
fbem-21419	98	18	steadily	steadily	ADV
fbem-21419	98	19	rising	rise	VERB
fbem-21419	98	20	development	development	NOUN
fbem-21419	98	21	trajectory	trajectory	NOUN
fbem-21419	98	22	,	,	PUNCT
fbem-21419	98	23	in	in	ADP
fbem-21419	98	24	which	which	PRON
fbem-21419	98	25	eva	eva	NOUN
fbem-21419	98	26	achieved	achieve	VERB
fbem-21419	98	27	a	a	DET
fbem-21419	98	28	growth	growth	NOUN
fbem-21419	98	29	rate	rate	NOUN
fbem-21419	98	30	of	of	ADP
fbem-21419	98	31	77.26	77.26	NUM
fbem-21419	98	32	%	%	NOUN
fbem-21419	98	33	,	,	PUNCT
fbem-21419	98	34	while	while	SCONJ
fbem-21419	98	35	the	the	DET
fbem-21419	98	36	growth	growth	NOUN
fbem-21419	98	37	rate	rate	NOUN
fbem-21419	98	38	of	of	ADP
fbem-21419	98	39	net	net	ADJ
fbem-21419	98	40	profit	profit	NOUN
fbem-21419	98	41	was	be	AUX
fbem-21419	98	42	slightly	slightly	ADV
fbem-21419	98	43	lower	low	ADJ
fbem-21419	98	44	,	,	PUNCT
fbem-21419	98	45	at	at	ADP
fbem-21419	98	46	76.31	76.31	NUM
fbem-21419	98	47	%	%	NOUN
fbem-21419	98	48	.	.	PUNCT
fbem-21419	99	1	this	this	PRON
fbem-21419	99	2	strongly	strongly	ADV
fbem-21419	99	3	proves	prove	VERB
fbem-21419	99	4	145	145	NUM
fbem-21419	99	5	that	that	PRON
fbem-21419	99	6	kweichow	kweichow	PROPN
fbem-21419	99	7	moutai	moutai	PROPN
fbem-21419	99	8	's	's	PART
fbem-21419	99	9	business	business	NOUN
fbem-21419	99	10	performance	performance	NOUN
fbem-21419	99	11	is	be	AUX
fbem-21419	99	12	constantly	constantly	ADV
fbem-21419	99	13	improving	improve	VERB
fbem-21419	99	14	,	,	PUNCT
fbem-21419	99	15	and	and	CCONJ
fbem-21419	99	16	it	it	PRON
fbem-21419	99	17	continues	continue	VERB
fbem-21419	99	18	to	to	PART
fbem-21419	99	19	bring	bring	VERB
fbem-21419	99	20	more	more	ADJ
fbem-21419	99	21	wealth	wealth	NOUN
fbem-21419	99	22	accumulation	accumulation	NOUN
fbem-21419	99	23	to	to	ADP
fbem-21419	99	24	shareholders	shareholder	NOUN
fbem-21419	99	25	,	,	PUNCT
fbem-21419	99	26	which	which	PRON
fbem-21419	99	27	undoubtedly	undoubtedly	ADV
fbem-21419	99	28	releases	release	VERB
fbem-21419	99	29	a	a	DET
fbem-21419	99	30	strong	strong	ADJ
fbem-21419	99	31	positive	positive	ADJ
fbem-21419	99	32	signal	signal	NOUN
fbem-21419	99	33	for	for	ADP
fbem-21419	99	34	the	the	DET
fbem-21419	99	35	company	company	NOUN
fbem-21419	99	36	in	in	ADP
fbem-21419	99	37	the	the	DET
fbem-21419	99	38	liquor	liquor	NOUN
fbem-21419	99	39	industry	industry	NOUN
fbem-21419	99	40	.	.	PUNCT
fbem-21419	100	1	the	the	DET
fbem-21419	100	2	reasons	reason	NOUN
fbem-21419	100	3	behind	behind	ADP
fbem-21419	100	4	this	this	DET
fbem-21419	100	5	positive	positive	ADJ
fbem-21419	100	6	development	development	NOUN
fbem-21419	100	7	trend	trend	NOUN
fbem-21419	100	8	,	,	PUNCT
fbem-21419	100	9	on	on	ADP
fbem-21419	100	10	the	the	DET
fbem-21419	100	11	one	one	NUM
fbem-21419	100	12	hand	hand	NOUN
fbem-21419	100	13	,	,	PUNCT
fbem-21419	100	14	benefit	benefit	VERB
fbem-21419	100	15	from	from	ADP
fbem-21419	100	16	the	the	DET
fbem-21419	100	17	overall	overall	ADJ
fbem-21419	100	18	prosperous	prosperous	ADJ
fbem-21419	100	19	trend	trend	NOUN
fbem-21419	100	20	of	of	ADP
fbem-21419	100	21	the	the	DET
fbem-21419	100	22	liquor	liquor	NOUN
fbem-21419	100	23	market	market	NOUN
fbem-21419	100	24	,	,	PUNCT
fbem-21419	100	25	on	on	ADP
fbem-21419	100	26	the	the	DET
fbem-21419	100	27	other	other	ADJ
fbem-21419	100	28	hand	hand	NOUN
fbem-21419	100	29	,	,	PUNCT
fbem-21419	100	30	can	can	AUX
fbem-21419	100	31	not	not	PART
fbem-21419	100	32	be	be	AUX
fbem-21419	100	33	separated	separate	VERB
fbem-21419	100	34	from	from	ADP
fbem-21419	100	35	the	the	DET
fbem-21419	100	36	company	company	NOUN
fbem-21419	100	37	's	's	PART
fbem-21419	100	38	effective	effective	ADJ
fbem-21419	100	39	sales	sale	NOUN
fbem-21419	100	40	strategy	strategy	NOUN
fbem-21419	100	41	and	and	CCONJ
fbem-21419	100	42	management	management	NOUN
fbem-21419	100	43	measures	measure	NOUN
fbem-21419	100	44	.	.	PUNCT
fbem-21419	101	1	considering	consider	VERB
fbem-21419	101	2	the	the	DET
fbem-21419	101	3	data	datum	NOUN
fbem-21419	101	4	from	from	ADP
fbem-21419	101	5	2019	2019	NUM
fbem-21419	101	6	to	to	ADP
fbem-21419	101	7	2023	2023	NUM
fbem-21419	101	8	,	,	PUNCT
fbem-21419	101	9	although	although	SCONJ
fbem-21419	101	10	kweichow	kweichow	PROPN
fbem-21419	101	11	moutai	moutai	PROPN
fbem-21419	101	12	's	's	PART
fbem-21419	101	13	eva	eva	NOUN
fbem-21419	101	14	is	be	AUX
fbem-21419	101	15	generally	generally	ADV
fbem-21419	101	16	lower	low	ADJ
fbem-21419	101	17	than	than	ADP
fbem-21419	101	18	the	the	DET
fbem-21419	101	19	amount	amount	NOUN
fbem-21419	101	20	of	of	ADP
fbem-21419	101	21	net	net	ADJ
fbem-21419	101	22	profit	profit	NOUN
fbem-21419	101	23	,	,	PUNCT
fbem-21419	101	24	both	both	PRON
fbem-21419	101	25	maintain	maintain	VERB
fbem-21419	101	26	a	a	DET
fbem-21419	101	27	positive	positive	ADJ
fbem-21419	101	28	growth	growth	NOUN
fbem-21419	101	29	trend	trend	NOUN
fbem-21419	101	30	.	.	PUNCT
fbem-21419	102	1	this	this	PRON
fbem-21419	102	2	means	mean	VERB
fbem-21419	102	3	that	that	SCONJ
fbem-21419	102	4	relying	rely	VERB
fbem-21419	102	5	on	on	ADP
fbem-21419	102	6	net	net	ADJ
fbem-21419	102	7	profit	profit	NOUN
fbem-21419	102	8	data	datum	NOUN
fbem-21419	102	9	alone	alone	ADV
fbem-21419	102	10	may	may	AUX
fbem-21419	102	11	not	not	PART
fbem-21419	102	12	be	be	AUX
fbem-21419	102	13	enough	enough	ADJ
fbem-21419	102	14	to	to	PART
fbem-21419	102	15	give	give	VERB
fbem-21419	102	16	a	a	DET
fbem-21419	102	17	full	full	ADJ
fbem-21419	102	18	insight	insight	NOUN
fbem-21419	102	19	into	into	ADP
fbem-21419	102	20	kweichow	kweichow	PROPN
fbem-21419	102	21	moutai	moutai	PROPN
fbem-21419	102	22	's	's	PART
fbem-21419	102	23	true	true	ADJ
fbem-21419	102	24	operating	operating	NOUN
fbem-21419	102	25	results	result	NOUN
fbem-21419	102	26	,	,	PUNCT
fbem-21419	102	27	as	as	SCONJ
fbem-21419	102	28	these	these	DET
fbem-21419	102	29	data	datum	NOUN
fbem-21419	102	30	do	do	AUX
fbem-21419	102	31	not	not	PART
fbem-21419	102	32	fully	fully	ADV
fbem-21419	102	33	take	take	VERB
fbem-21419	102	34	into	into	ADP
fbem-21419	102	35	account	account	NOUN
fbem-21419	102	36	the	the	DET
fbem-21419	102	37	cost	cost	NOUN
fbem-21419	102	38	of	of	ADP
fbem-21419	102	39	capital	capital	NOUN
fbem-21419	102	40	.	.	PUNCT
fbem-21419	103	1	as	as	ADP
fbem-21419	103	2	an	an	DET
fbem-21419	103	3	important	important	ADJ
fbem-21419	103	4	financial	financial	ADJ
fbem-21419	103	5	management	management	NOUN
fbem-21419	103	6	tool	tool	NOUN
fbem-21419	103	7	,	,	PUNCT
fbem-21419	103	8	eva	eva	NOUN
fbem-21419	103	9	makes	make	VERB
fbem-21419	103	10	up	up	ADP
fbem-21419	103	11	for	for	ADP
fbem-21419	103	12	the	the	DET
fbem-21419	103	13	limitations	limitation	NOUN
fbem-21419	103	14	of	of	ADP
fbem-21419	103	15	the	the	DET
fbem-21419	103	16	traditional	traditional	ADJ
fbem-21419	103	17	accounting	accounting	NOUN
fbem-21419	103	18	profit	profit	NOUN
fbem-21419	103	19	index	index	NOUN
fbem-21419	103	20	in	in	ADP
fbem-21419	103	21	the	the	DET
fbem-21419	103	22	evaluation	evaluation	NOUN
fbem-21419	103	23	of	of	ADP
fbem-21419	103	24	enterprise	enterprise	NOUN
fbem-21419	103	25	benefits	benefit	NOUN
fbem-21419	103	26	.	.	PUNCT
fbem-21419	104	1	it	it	PRON
fbem-21419	104	2	incorporates	incorporate	VERB
fbem-21419	104	3	the	the	DET
fbem-21419	104	4	cost	cost	NOUN
fbem-21419	104	5	of	of	ADP
fbem-21419	104	6	equity	equity	NOUN
fbem-21419	104	7	capital	capital	NOUN
fbem-21419	104	8	in	in	ADP
fbem-21419	104	9	its	its	PRON
fbem-21419	104	10	calculation	calculation	NOUN
fbem-21419	104	11	,	,	PUNCT
fbem-21419	104	12	providing	provide	VERB
fbem-21419	104	13	a	a	DET
fbem-21419	104	14	more	more	ADV
fbem-21419	104	15	accurate	accurate	ADJ
fbem-21419	104	16	measure	measure	NOUN
fbem-21419	104	17	of	of	ADP
fbem-21419	104	18	a	a	DET
fbem-21419	104	19	company	company	NOUN
fbem-21419	104	20	's	's	PART
fbem-21419	104	21	actual	actual	ADJ
fbem-21419	104	22	profitability	profitability	NOUN
fbem-21419	104	23	.	.	PUNCT
fbem-21419	105	1	although	although	SCONJ
fbem-21419	105	2	on	on	ADP
fbem-21419	105	3	the	the	DET
fbem-21419	105	4	surface	surface	NOUN
fbem-21419	105	5	,	,	PUNCT
fbem-21419	105	6	the	the	DET
fbem-21419	105	7	eva	eva	NOUN
fbem-21419	105	8	value	value	NOUN
fbem-21419	105	9	is	be	AUX
fbem-21419	105	10	lower	low	ADJ
fbem-21419	105	11	than	than	ADP
fbem-21419	105	12	the	the	DET
fbem-21419	105	13	net	net	ADJ
fbem-21419	105	14	profit	profit	NOUN
fbem-21419	105	15	,	,	PUNCT
fbem-21419	105	16	it	it	PRON
fbem-21419	105	17	can	can	AUX
fbem-21419	105	18	reveal	reveal	VERB
fbem-21419	105	19	the	the	DET
fbem-21419	105	20	business	business	NOUN
fbem-21419	105	21	reality	reality	NOUN
fbem-21419	105	22	of	of	ADP
fbem-21419	105	23	the	the	DET
fbem-21419	105	24	enterprise	enterprise	NOUN
fbem-21419	105	25	in	in	ADP
fbem-21419	105	26	recent	recent	ADJ
fbem-21419	105	27	years	year	NOUN
fbem-21419	105	28	more	more	ADV
fbem-21419	105	29	fairly	fairly	ADV
fbem-21419	105	30	and	and	CCONJ
fbem-21419	105	31	substantively	substantively	ADV
fbem-21419	105	32	through	through	ADP
fbem-21419	105	33	the	the	DET
fbem-21419	105	34	adaptive	adaptive	ADJ
fbem-21419	105	35	adjustment	adjustment	NOUN
fbem-21419	105	36	of	of	ADP
fbem-21419	105	37	various	various	ADJ
fbem-21419	105	38	accounting	accounting	NOUN
fbem-21419	105	39	items	item	NOUN
fbem-21419	105	40	,	,	PUNCT
fbem-21419	105	41	and	and	CCONJ
fbem-21419	105	42	provide	provide	VERB
fbem-21419	105	43	a	a	DET
fbem-21419	105	44	more	more	ADV
fbem-21419	105	45	realistic	realistic	ADJ
fbem-21419	105	46	enterprise	enterprise	NOUN
fbem-21419	105	47	performance	performance	NOUN
fbem-21419	105	48	evaluation	evaluation	NOUN
fbem-21419	105	49	system	system	NOUN
fbem-21419	105	50	,	,	PUNCT
fbem-21419	105	51	which	which	PRON
fbem-21419	105	52	has	have	VERB
fbem-21419	105	53	higher	high	ADJ
fbem-21419	105	54	practicability	practicability	NOUN
fbem-21419	105	55	and	and	CCONJ
fbem-21419	105	56	guiding	guiding	NOUN
fbem-21419	105	57	significance	significance	NOUN
fbem-21419	105	58	for	for	SCONJ
fbem-21419	105	59	managers	manager	NOUN
fbem-21419	105	60	to	to	PART
fbem-21419	105	61	make	make	VERB
fbem-21419	105	62	decisions	decision	NOUN
fbem-21419	105	63	.	.	PUNCT
fbem-21419	106	1	3.2.2	3.2.2	X
fbem-21419	106	2	.	.	PUNCT
fbem-21419	106	3	sales	sales	PROPN
fbem-21419	106	4	eva	eva	PROPN
fbem-21419	106	5	ratio	ratio	NOUN
fbem-21419	106	6	and	and	CCONJ
fbem-21419	106	7	net	net	ADJ
fbem-21419	106	8	profit	profit	NOUN
fbem-21419	106	9	margin	margin	NOUN
fbem-21419	106	10	on	on	ADP
fbem-21419	106	11	sales	sale	NOUN
fbem-21419	106	12	table	table	NOUN
fbem-21419	106	13	14	14	NUM
fbem-21419	106	14	.	.	PUNCT
fbem-21419	107	1	comparison	comparison	NOUN
fbem-21419	107	2	of	of	ADP
fbem-21419	107	3	sales	sale	NOUN
fbem-21419	107	4	eva	eva	NOUN
fbem-21419	107	5	rate	rate	NOUN
fbem-21419	107	6	and	and	CCONJ
fbem-21419	107	7	net	net	ADJ
fbem-21419	107	8	profit	profit	NOUN
fbem-21419	107	9	margin	margin	NOUN
fbem-21419	107	10	on	on	ADP
fbem-21419	107	11	sales	sale	NOUN
fbem-21419	107	12	of	of	ADP
fbem-21419	107	13	kweichow	kweichow	PROPN
fbem-21419	107	14	moutai	moutai	NOUN
fbem-21419	107	15	in	in	ADP
fbem-21419	107	16	2019	2019	NUM
fbem-21419	107	17	-	-	SYM
fbem-21419	107	18	2023	2023	NUM
fbem-21419	107	19	time	time	NOUN
fbem-21419	107	20	2019	2019	NUM
fbem-21419	107	21	2020	2020	NUM
fbem-21419	107	22	2021	2021	NUM
fbem-21419	107	23	2022	2022	NUM
fbem-21419	107	24	2023	2023	NUM
fbem-21419	107	25	sales	sale	NOUN
fbem-21419	107	26	eva	eva	PROPN
fbem-21419	107	27	ratio	ratio	NOUN
fbem-21419	107	28	43.33	43.33	NUM
fbem-21419	107	29	%	%	NOUN
fbem-21419	107	30	44.00	44.00	NUM
fbem-21419	107	31	%	%	NOUN
fbem-21419	107	32	39.90	39.90	NUM
fbem-21419	107	33	%	%	NOUN
fbem-21419	107	34	43.12	43.12	NUM
fbem-21419	107	35	%	%	NOUN
fbem-21419	107	36	44.43	44.43	NUM
fbem-21419	107	37	%	%	NOUN
fbem-21419	107	38	net	net	ADJ
fbem-21419	107	39	profit	profit	NOUN
fbem-21419	107	40	margin	margin	NOUN
fbem-21419	107	41	on	on	ADP
fbem-21419	107	42	sales	sale	NOUN
fbem-21419	107	43	51.47	51.47	NUM
fbem-21419	107	44	%	%	NOUN
fbem-21419	107	45	52.18	52.18	NUM
fbem-21419	107	46	%	%	NOUN
fbem-21419	107	47	52.47	52.47	NUM
fbem-21419	107	48	%	%	NOUN
fbem-21419	107	49	52.68	52.68	NUM
fbem-21419	107	50	%	%	NOUN
fbem-21419	107	51	52.49	52.49	NUM
fbem-21419	107	52	%	%	NOUN
fbem-21419	107	53	figure	figure	NOUN
fbem-21419	107	54	2	2	NUM
fbem-21419	107	55	.	.	PUNCT
fbem-21419	108	1	kweichow	kweichow	PROPN
fbem-21419	108	2	moutai	moutai	PROPN
fbem-21419	108	3	sales	sales	PROPN
fbem-21419	108	4	eva	eva	PROPN
fbem-21419	108	5	rate	rate	NOUN
fbem-21419	108	6	and	and	CCONJ
fbem-21419	108	7	net	net	ADJ
fbem-21419	108	8	profit	profit	NOUN
fbem-21419	108	9	margin	margin	NOUN
fbem-21419	108	10	on	on	ADP
fbem-21419	108	11	sales	sale	NOUN
fbem-21419	108	12	from	from	ADP
fbem-21419	108	13	2019	2019	NUM
fbem-21419	108	14	to	to	ADP
fbem-21419	108	15	2023	2023	NUM
fbem-21419	108	16	as	as	SCONJ
fbem-21419	108	17	can	can	AUX
fbem-21419	108	18	be	be	AUX
fbem-21419	108	19	seen	see	VERB
fbem-21419	108	20	from	from	ADP
fbem-21419	108	21	table	table	NOUN
fbem-21419	108	22	14	14	NUM
fbem-21419	108	23	and	and	CCONJ
fbem-21419	108	24	figure	figure	NOUN
fbem-21419	108	25	2	2	NUM
fbem-21419	108	26	,	,	PUNCT
fbem-21419	108	27	the	the	DET
fbem-21419	108	28	sales	sale	NOUN
fbem-21419	108	29	eva	eva	NOUN
fbem-21419	108	30	rate	rate	NOUN
fbem-21419	108	31	of	of	ADP
fbem-21419	108	32	kweichow	kweichow	PROPN
fbem-21419	108	33	moutai	moutai	NOUN
fbem-21419	108	34	from	from	ADP
fbem-21419	108	35	2019	2019	NUM
fbem-21419	108	36	to	to	ADP
fbem-21419	108	37	2023	2023	NUM
fbem-21419	108	38	remains	remain	NOUN
fbem-21419	108	39	at	at	ADP
fbem-21419	108	40	about	about	ADV
fbem-21419	108	41	40	40	NUM
fbem-21419	108	42	%	%	NOUN
fbem-21419	108	43	,	,	PUNCT
fbem-21419	108	44	while	while	SCONJ
fbem-21419	108	45	the	the	DET
fbem-21419	108	46	net	net	ADJ
fbem-21419	108	47	profit	profit	NOUN
fbem-21419	108	48	rate	rate	NOUN
fbem-21419	108	49	of	of	ADP
fbem-21419	108	50	sales	sale	NOUN
fbem-21419	108	51	remains	remain	VERB
fbem-21419	108	52	at	at	ADP
fbem-21419	108	53	more	more	ADJ
fbem-21419	108	54	than	than	ADP
fbem-21419	108	55	50	50	NUM
fbem-21419	108	56	%	%	NOUN
fbem-21419	108	57	,	,	PUNCT
fbem-21419	108	58	and	and	CCONJ
fbem-21419	108	59	the	the	DET
fbem-21419	108	60	changes	change	NOUN
fbem-21419	108	61	and	and	CCONJ
fbem-21419	108	62	fluctuations	fluctuation	NOUN
fbem-21419	108	63	of	of	ADP
fbem-21419	108	64	both	both	PRON
fbem-21419	108	65	are	be	AUX
fbem-21419	108	66	relatively	relatively	ADV
fbem-21419	108	67	stable	stable	ADJ
fbem-21419	108	68	.	.	PUNCT
fbem-21419	109	1	generally	generally	ADV
fbem-21419	109	2	speaking	speak	VERB
fbem-21419	109	3	,	,	PUNCT
fbem-21419	109	4	the	the	DET
fbem-21419	109	5	ability	ability	NOUN
fbem-21419	109	6	of	of	ADP
fbem-21419	109	7	enterprises	enterprise	NOUN
fbem-21419	109	8	to	to	PART
fbem-21419	109	9	earn	earn	VERB
fbem-21419	109	10	after	after	ADP
fbem-21419	109	11	-	-	PUNCT
fbem-21419	109	12	tax	tax	NOUN
fbem-21419	109	13	profits	profit	NOUN
fbem-21419	109	14	from	from	ADP
fbem-21419	109	15	sales	sale	NOUN
fbem-21419	109	16	revenue	revenue	NOUN
fbem-21419	109	17	can	can	AUX
fbem-21419	109	18	be	be	AUX
fbem-21419	109	19	measured	measure	VERB
fbem-21419	109	20	by	by	ADP
fbem-21419	109	21	the	the	DET
fbem-21419	109	22	indicator	indicator	NOUN
fbem-21419	109	23	of	of	ADP
fbem-21419	109	24	net	net	ADJ
fbem-21419	109	25	profit	profit	NOUN
fbem-21419	109	26	rate	rate	NOUN
fbem-21419	109	27	on	on	ADP
fbem-21419	109	28	sales	sale	NOUN
fbem-21419	109	29	,	,	PUNCT
fbem-21419	109	30	and	and	CCONJ
fbem-21419	109	31	net	net	ADJ
fbem-21419	109	32	profit	profit	NOUN
fbem-21419	109	33	rate	rate	NOUN
fbem-21419	109	34	on	on	ADP
fbem-21419	109	35	sales	sale	NOUN
fbem-21419	109	36	is	be	AUX
fbem-21419	109	37	directly	directly	ADV
fbem-21419	109	38	related	relate	VERB
fbem-21419	109	39	to	to	ADP
fbem-21419	109	40	the	the	DET
fbem-21419	109	41	efficiency	efficiency	NOUN
fbem-21419	109	42	of	of	ADP
fbem-21419	109	43	enterprises	enterprise	NOUN
fbem-21419	109	44	to	to	PART
fbem-21419	109	45	make	make	VERB
fbem-21419	109	46	money	money	NOUN
fbem-21419	109	47	.	.	PUNCT
fbem-21419	110	1	therefore	therefore	ADV
fbem-21419	110	2	,	,	PUNCT
fbem-21419	110	3	from	from	ADP
fbem-21419	110	4	the	the	DET
fbem-21419	110	5	comprehensive	comprehensive	ADJ
fbem-21419	110	6	performance	performance	NOUN
fbem-21419	110	7	of	of	ADP
fbem-21419	110	8	sales	sale	NOUN
fbem-21419	110	9	eva	eva	NOUN
fbem-21419	110	10	rate	rate	NOUN
fbem-21419	110	11	and	and	CCONJ
fbem-21419	110	12	net	net	ADJ
fbem-21419	110	13	profit	profit	NOUN
fbem-21419	110	14	rate	rate	NOUN
fbem-21419	110	15	on	on	ADP
fbem-21419	110	16	sales	sale	NOUN
fbem-21419	110	17	,	,	PUNCT
fbem-21419	110	18	the	the	DET
fbem-21419	110	19	profit	profit	NOUN
fbem-21419	110	20	level	level	NOUN
fbem-21419	110	21	of	of	ADP
fbem-21419	110	22	kweichow	kweichow	PROPN
fbem-21419	110	23	moutai	moutai	NOUN
fbem-21419	110	24	has	have	AUX
fbem-21419	110	25	always	always	ADV
fbem-21419	110	26	maintained	maintain	VERB
fbem-21419	110	27	a	a	DET
fbem-21419	110	28	stable	stable	ADJ
fbem-21419	110	29	state	state	NOUN
fbem-21419	110	30	.	.	PUNCT
fbem-21419	111	1	however	however	ADV
fbem-21419	111	2	,	,	PUNCT
fbem-21419	111	3	the	the	DET
fbem-21419	111	4	net	net	ADJ
fbem-21419	111	5	profit	profit	NOUN
fbem-21419	111	6	rate	rate	NOUN
fbem-21419	111	7	on	on	ADP
fbem-21419	111	8	sales	sale	NOUN
fbem-21419	111	9	from	from	ADP
fbem-21419	111	10	2019	2019	NUM
fbem-21419	111	11	to	to	ADP
fbem-21419	111	12	2023	2023	NUM
fbem-21419	111	13	is	be	AUX
fbem-21419	111	14	higher	high	ADJ
fbem-21419	111	15	than	than	ADP
fbem-21419	111	16	the	the	DET
fbem-21419	111	17	sales	sale	NOUN
fbem-21419	111	18	eva	eva	NOUN
fbem-21419	111	19	rate	rate	NOUN
fbem-21419	111	20	,	,	PUNCT
fbem-21419	111	21	because	because	SCONJ
fbem-21419	111	22	eva	eva	PROPN
fbem-21419	111	23	will	will	AUX
fbem-21419	111	24	take	take	VERB
fbem-21419	111	25	into	into	ADP
fbem-21419	111	26	account	account	NOUN
fbem-21419	111	27	the	the	DET
fbem-21419	111	28	enterprise	enterprise	NOUN
fbem-21419	111	29	's	's	PART
fbem-21419	111	30	research	research	NOUN
fbem-21419	111	31	and	and	CCONJ
fbem-21419	111	32	development	development	NOUN
fbem-21419	111	33	investment	investment	NOUN
fbem-21419	111	34	,	,	PUNCT
fbem-21419	111	35	asset	asset	NOUN
fbem-21419	111	36	depreciation	depreciation	NOUN
fbem-21419	111	37	loss	loss	NOUN
fbem-21419	111	38	and	and	CCONJ
fbem-21419	111	39	other	other	ADJ
fbem-21419	111	40	factors	factor	NOUN
fbem-21419	111	41	affecting	affect	VERB
fbem-21419	111	42	the	the	DET
fbem-21419	111	43	intrinsic	intrinsic	ADJ
fbem-21419	111	44	value	value	NOUN
fbem-21419	111	45	of	of	ADP
fbem-21419	111	46	the	the	DET
fbem-21419	111	47	enterprise	enterprise	NOUN
fbem-21419	111	48	when	when	SCONJ
fbem-21419	111	49	evaluating	evaluate	VERB
fbem-21419	111	50	the	the	DET
fbem-21419	111	51	value	value	NOUN
fbem-21419	111	52	of	of	ADP
fbem-21419	111	53	the	the	DET
fbem-21419	111	54	enterprise	enterprise	NOUN
fbem-21419	111	55	,	,	PUNCT
fbem-21419	111	56	so	so	SCONJ
fbem-21419	111	57	as	as	SCONJ
fbem-21419	111	58	to	to	PART
fbem-21419	111	59	more	more	ADV
fbem-21419	111	60	accurately	accurately	ADV
fbem-21419	111	61	depict	depict	VERB
fbem-21419	111	62	the	the	DET
fbem-21419	111	63	real	real	ADJ
fbem-21419	111	64	business	business	NOUN
fbem-21419	111	65	situation	situation	NOUN
fbem-21419	111	66	of	of	ADP
fbem-21419	111	67	the	the	DET
fbem-21419	111	68	enterprise	enterprise	NOUN
fbem-21419	111	69	.	.	PUNCT
fbem-21419	112	1	therefore	therefore	ADV
fbem-21419	112	2	,	,	PUNCT
fbem-21419	112	3	it	it	PRON
fbem-21419	112	4	is	be	AUX
fbem-21419	112	5	necessary	necessary	ADJ
fbem-21419	112	6	to	to	PART
fbem-21419	112	7	pay	pay	VERB
fbem-21419	112	8	more	more	ADJ
fbem-21419	112	9	attention	attention	NOUN
fbem-21419	112	10	to	to	ADP
fbem-21419	112	11	the	the	DET
fbem-21419	112	12	sales	sale	NOUN
fbem-21419	112	13	eva	eva	NOUN
fbem-21419	112	14	rate	rate	NOUN
fbem-21419	112	15	in	in	ADP
fbem-21419	112	16	order	order	NOUN
fbem-21419	112	17	to	to	PART
fbem-21419	112	18	accurately	accurately	ADV
fbem-21419	112	19	show	show	VERB
fbem-21419	112	20	the	the	DET
fbem-21419	112	21	trend	trend	NOUN
fbem-21419	112	22	of	of	ADP
fbem-21419	112	23	the	the	DET
fbem-21419	112	24	financial	financial	ADJ
fbem-21419	112	25	performance	performance	NOUN
fbem-21419	112	26	of	of	ADP
fbem-21419	112	27	the	the	DET
fbem-21419	112	28	enterprise	enterprise	NOUN
fbem-21419	112	29	,	,	PUNCT
fbem-21419	112	30	provide	provide	VERB
fbem-21419	112	31	fair	fair	ADJ
fbem-21419	112	32	financial	financial	ADJ
fbem-21419	112	33	information	information	NOUN
fbem-21419	112	34	basis	basis	NOUN
fbem-21419	112	35	for	for	ADP
fbem-21419	112	36	all	all	DET
fbem-21419	112	37	stakeholders	stakeholder	NOUN
fbem-21419	112	38	,	,	PUNCT
fbem-21419	112	39	and	and	CCONJ
fbem-21419	112	40	help	help	VERB
fbem-21419	112	41	the	the	DET
fbem-21419	112	42	management	management	NOUN
fbem-21419	112	43	to	to	PART
fbem-21419	112	44	make	make	VERB
fbem-21419	112	45	scientific	scientific	ADJ
fbem-21419	112	46	and	and	CCONJ
fbem-21419	112	47	reasonable	reasonable	ADJ
fbem-21419	112	48	management	management	NOUN
fbem-21419	112	49	decisions	decision	NOUN
fbem-21419	112	50	,	,	PUNCT
fbem-21419	112	51	thus	thus	ADV
fbem-21419	112	52	laying	lay	VERB
fbem-21419	112	53	a	a	DET
fbem-21419	112	54	solid	solid	ADJ
fbem-21419	112	55	foundation	foundation	NOUN
fbem-21419	112	56	for	for	ADP
fbem-21419	112	57	the	the	DET
fbem-21419	112	58	construction	construction	NOUN
fbem-21419	112	59	of	of	ADP
fbem-21419	112	60	the	the	DET
fbem-21419	112	61	enterprise	enterprise	NOUN
fbem-21419	112	62	development	development	NOUN
fbem-21419	112	63	blueprint	blueprint	NOUN
fbem-21419	112	64	.	.	PUNCT
fbem-21419	113	1	3.2.3	3.2.3	X
fbem-21419	113	2	.	.	X
fbem-21419	113	3	net	net	ADJ
fbem-21419	113	4	asset	asset	PROPN
fbem-21419	113	5	eva	eva	PROPN
fbem-21419	113	6	ratio	ratio	NOUN
fbem-21419	113	7	and	and	CCONJ
fbem-21419	113	8	return	return	NOUN
fbem-21419	113	9	on	on	ADP
fbem-21419	113	10	equity	equity	NOUN
fbem-21419	113	11	table	table	NOUN
fbem-21419	113	12	15	15	NUM
fbem-21419	113	13	.	.	PUNCT
fbem-21419	114	1	kweichow	kweichow	PROPN
fbem-21419	114	2	moutai	moutai	PROPN
fbem-21419	114	3	's	's	PART
fbem-21419	114	4	net	net	ADJ
fbem-21419	114	5	asset	asset	NOUN
fbem-21419	114	6	eva	eva	NOUN
fbem-21419	114	7	rate	rate	NOUN
fbem-21419	114	8	and	and	CCONJ
fbem-21419	114	9	return	return	VERB
fbem-21419	114	10	on	on	ADP
fbem-21419	114	11	equity	equity	NOUN
fbem-21419	114	12	in	in	ADP
fbem-21419	114	13	2019	2019	NUM
fbem-21419	114	14	-	-	SYM
fbem-21419	114	15	2023	2023	NUM
fbem-21419	114	16	time	time	NOUN
fbem-21419	114	17	2019	2019	NUM
fbem-21419	114	18	2020	2020	NUM
fbem-21419	114	19	2021	2021	NUM
fbem-21419	114	20	2022	2022	NUM
fbem-21419	114	21	2023	2023	NUM
fbem-21419	114	22	net	net	ADJ
fbem-21419	114	23	asset	asset	NOUN
fbem-21419	114	24	eva	eva	PROPN
fbem-21419	114	25	ratio	ratio	NOUN
fbem-21419	114	26	27.22	27.22	NUM
fbem-21419	114	27	%	%	NOUN
fbem-21419	114	28	25.89	25.89	NUM
fbem-21419	114	29	%	%	NOUN
fbem-21419	114	30	22.35	22.35	NUM
fbem-21419	114	31	%	%	NOUN
fbem-21419	114	32	27.09	27.09	NUM
fbem-21419	114	33	%	%	NOUN
fbem-21419	114	34	30.43	30.43	NUM
fbem-21419	114	35	%	%	NOUN
fbem-21419	114	36	return	return	NOUN
fbem-21419	114	37	on	on	ADP
fbem-21419	114	38	equity	equity	NOUN
fbem-21419	114	39	33.09	33.09	NUM
fbem-21419	114	40	%	%	NOUN
fbem-21419	114	41	31.41	31.41	NUM
fbem-21419	114	42	%	%	NOUN
fbem-21419	114	43	29.90	29.90	NUM
fbem-21419	114	44	%	%	NOUN
fbem-21419	114	45	30.26	30.26	NUM
fbem-21419	114	46	%	%	NOUN
fbem-21419	114	47	34.19	34.19	NUM
fbem-21419	114	48	%	%	NOUN
fbem-21419	114	49	146	146	NUM
fbem-21419	114	50	figure	figure	NOUN
fbem-21419	114	51	3	3	NUM
fbem-21419	114	52	.	.	PUNCT
fbem-21419	115	1	kweichow	kweichow	PROPN
fbem-21419	115	2	moutai	moutai	PROPN
fbem-21419	115	3	's	's	PART
fbem-21419	115	4	net	net	ADJ
fbem-21419	115	5	asset	asset	NOUN
fbem-21419	115	6	eva	eva	NOUN
fbem-21419	115	7	rate	rate	NOUN
fbem-21419	115	8	and	and	CCONJ
fbem-21419	115	9	return	return	VERB
fbem-21419	115	10	on	on	ADP
fbem-21419	115	11	equity	equity	NOUN
fbem-21419	115	12	from	from	ADP
fbem-21419	115	13	2019	2019	NUM
fbem-21419	115	14	to	to	ADP
fbem-21419	115	15	2023	2023	NUM
fbem-21419	115	16	eva	eva	NOUN
fbem-21419	115	17	ratio	ratio	NOUN
fbem-21419	115	18	of	of	ADP
fbem-21419	115	19	net	net	ADJ
fbem-21419	115	20	assets	asset	NOUN
fbem-21419	115	21	and	and	CCONJ
fbem-21419	115	22	return	return	VERB
fbem-21419	115	23	on	on	ADP
fbem-21419	115	24	net	net	ADJ
fbem-21419	115	25	assets	asset	NOUN
fbem-21419	115	26	are	be	AUX
fbem-21419	115	27	both	both	PRON
fbem-21419	115	28	key	key	ADJ
fbem-21419	115	29	indicators	indicator	NOUN
fbem-21419	115	30	to	to	PART
fbem-21419	115	31	measure	measure	VERB
fbem-21419	115	32	the	the	DET
fbem-21419	115	33	strength	strength	NOUN
fbem-21419	115	34	of	of	ADP
fbem-21419	115	35	corporate	corporate	ADJ
fbem-21419	115	36	profitability	profitability	NOUN
fbem-21419	115	37	,	,	PUNCT
fbem-21419	115	38	and	and	CCONJ
fbem-21419	115	39	there	there	PRON
fbem-21419	115	40	is	be	VERB
fbem-21419	115	41	a	a	DET
fbem-21419	115	42	positive	positive	ADJ
fbem-21419	115	43	correlation	correlation	NOUN
fbem-21419	115	44	between	between	ADP
fbem-21419	115	45	the	the	DET
fbem-21419	115	46	size	size	NOUN
fbem-21419	115	47	of	of	ADP
fbem-21419	115	48	these	these	DET
fbem-21419	115	49	two	two	NUM
fbem-21419	115	50	values	value	NOUN
fbem-21419	115	51	and	and	CCONJ
fbem-21419	115	52	the	the	DET
fbem-21419	115	53	level	level	NOUN
fbem-21419	115	54	of	of	ADP
fbem-21419	115	55	income	income	NOUN
fbem-21419	115	56	generated	generate	VERB
fbem-21419	115	57	.	.	PUNCT
fbem-21419	116	1	as	as	SCONJ
fbem-21419	116	2	can	can	AUX
fbem-21419	116	3	be	be	AUX
fbem-21419	116	4	seen	see	VERB
fbem-21419	116	5	from	from	ADP
fbem-21419	116	6	table	table	NOUN
fbem-21419	116	7	15	15	NUM
fbem-21419	116	8	and	and	CCONJ
fbem-21419	116	9	figure	figure	VERB
fbem-21419	116	10	3	3	NUM
fbem-21419	116	11	,	,	PUNCT
fbem-21419	116	12	kweichow	kweichow	PROPN
fbem-21419	116	13	moutai	moutai	PROPN
fbem-21419	116	14	's	's	PART
fbem-21419	116	15	net	net	ADJ
fbem-21419	116	16	asset	asset	NOUN
fbem-21419	116	17	eva	eva	NOUN
fbem-21419	116	18	ratio	ratio	NOUN
fbem-21419	116	19	and	and	CCONJ
fbem-21419	116	20	return	return	NOUN
fbem-21419	116	21	on	on	ADP
fbem-21419	116	22	net	net	ADJ
fbem-21419	116	23	assets	asset	NOUN
fbem-21419	116	24	from	from	ADP
fbem-21419	116	25	2019	2019	NUM
fbem-21419	116	26	to	to	ADP
fbem-21419	116	27	2023	2023	NUM
fbem-21419	116	28	generally	generally	ADV
fbem-21419	116	29	maintain	maintain	VERB
fbem-21419	116	30	a	a	DET
fbem-21419	116	31	consistent	consistent	ADJ
fbem-21419	116	32	trend	trend	NOUN
fbem-21419	116	33	.	.	PUNCT
fbem-21419	117	1	however	however	ADV
fbem-21419	117	2	,	,	PUNCT
fbem-21419	117	3	it	it	PRON
fbem-21419	117	4	is	be	AUX
fbem-21419	117	5	worth	worth	ADJ
fbem-21419	117	6	noting	note	VERB
fbem-21419	117	7	that	that	SCONJ
fbem-21419	117	8	the	the	DET
fbem-21419	117	9	net	net	ADJ
fbem-21419	117	10	asset	asset	PROPN
fbem-21419	117	11	eva	eva	PROPN
fbem-21419	117	12	ratio	ratio	NOUN
fbem-21419	117	13	is	be	AUX
fbem-21419	117	14	lower	low	ADJ
fbem-21419	117	15	than	than	ADP
fbem-21419	117	16	the	the	DET
fbem-21419	117	17	return	return	NOUN
fbem-21419	117	18	on	on	ADP
fbem-21419	117	19	net	net	ADJ
fbem-21419	117	20	assets	asset	NOUN
fbem-21419	117	21	value	value	NOUN
fbem-21419	117	22	in	in	ADP
fbem-21419	117	23	each	each	DET
fbem-21419	117	24	period	period	NOUN
fbem-21419	117	25	,	,	PUNCT
fbem-21419	117	26	and	and	CCONJ
fbem-21419	117	27	its	its	PRON
fbem-21419	117	28	fluctuation	fluctuation	NOUN
fbem-21419	117	29	range	range	NOUN
fbem-21419	117	30	is	be	AUX
fbem-21419	117	31	relatively	relatively	ADV
fbem-21419	117	32	larger	large	ADJ
fbem-21419	117	33	.	.	PUNCT
fbem-21419	118	1	the	the	DET
fbem-21419	118	2	eva	eva	PROPN
fbem-21419	118	3	ratio	ratio	NOUN
fbem-21419	118	4	of	of	ADP
fbem-21419	118	5	net	net	ADJ
fbem-21419	118	6	assets	asset	NOUN
fbem-21419	118	7	and	and	CCONJ
fbem-21419	118	8	roe	roe	NOUN
fbem-21419	118	9	in	in	ADP
fbem-21419	118	10	2021	2021	NUM
fbem-21419	118	11	are	be	AUX
fbem-21419	118	12	the	the	DET
fbem-21419	118	13	lowest	low	ADJ
fbem-21419	118	14	and	and	CCONJ
fbem-21419	118	15	the	the	DET
fbem-21419	118	16	difference	difference	NOUN
fbem-21419	118	17	between	between	ADP
fbem-21419	118	18	them	they	PRON
fbem-21419	118	19	is	be	AUX
fbem-21419	118	20	the	the	DET
fbem-21419	118	21	largest	large	ADJ
fbem-21419	118	22	,	,	PUNCT
fbem-21419	118	23	which	which	PRON
fbem-21419	118	24	means	mean	VERB
fbem-21419	118	25	that	that	SCONJ
fbem-21419	118	26	relying	rely	VERB
fbem-21419	118	27	on	on	ADP
fbem-21419	118	28	roe	roe	PROPN
fbem-21419	118	29	alone	alone	ADV
fbem-21419	118	30	may	may	AUX
fbem-21419	118	31	overestimate	overestimate	VERB
fbem-21419	118	32	the	the	DET
fbem-21419	118	33	actual	actual	ADJ
fbem-21419	118	34	operating	operating	NOUN
fbem-21419	118	35	performance	performance	NOUN
fbem-21419	118	36	of	of	ADP
fbem-21419	118	37	the	the	DET
fbem-21419	118	38	company	company	NOUN
fbem-21419	118	39	,	,	PUNCT
fbem-21419	118	40	although	although	SCONJ
fbem-21419	118	41	this	this	DET
fbem-21419	118	42	data	data	NOUN
fbem-21419	118	43	brings	bring	VERB
fbem-21419	118	44	optimistic	optimistic	ADJ
fbem-21419	118	45	prospects	prospect	NOUN
fbem-21419	118	46	to	to	ADP
fbem-21419	118	47	shareholders	shareholder	NOUN
fbem-21419	118	48	and	and	CCONJ
fbem-21419	118	49	potential	potential	ADJ
fbem-21419	118	50	investors	investor	NOUN
fbem-21419	118	51	.	.	PUNCT
fbem-21419	119	1	but	but	CCONJ
fbem-21419	119	2	in	in	ADP
fbem-21419	119	3	reality	reality	NOUN
fbem-21419	119	4	,	,	PUNCT
fbem-21419	119	5	the	the	DET
fbem-21419	119	6	actual	actual	ADJ
fbem-21419	119	7	earnings	earning	NOUN
fbem-21419	119	8	of	of	ADP
fbem-21419	119	9	enterprises	enterprise	NOUN
fbem-21419	119	10	may	may	AUX
fbem-21419	119	11	not	not	PART
fbem-21419	119	12	be	be	AUX
fbem-21419	119	13	able	able	ADJ
fbem-21419	119	14	to	to	PART
fbem-21419	119	15	meet	meet	VERB
fbem-21419	119	16	the	the	DET
fbem-21419	119	17	psychological	psychological	ADJ
fbem-21419	119	18	expectations	expectation	NOUN
fbem-21419	119	19	of	of	ADP
fbem-21419	119	20	investors	investor	NOUN
fbem-21419	119	21	.	.	PUNCT
fbem-21419	120	1	this	this	DET
fbem-21419	120	2	situation	situation	NOUN
fbem-21419	120	3	is	be	AUX
fbem-21419	120	4	not	not	PART
fbem-21419	120	5	only	only	ADV
fbem-21419	120	6	difficult	difficult	ADJ
fbem-21419	120	7	to	to	PART
fbem-21419	120	8	maintain	maintain	VERB
fbem-21419	120	9	investors	investor	NOUN
fbem-21419	120	10	'	'	PART
fbem-21419	120	11	long	long	ADJ
fbem-21419	120	12	-	-	PUNCT
fbem-21419	120	13	term	term	NOUN
fbem-21419	120	14	shareholding	shareholding	NOUN
fbem-21419	120	15	confidence	confidence	NOUN
fbem-21419	120	16	,	,	PUNCT
fbem-21419	120	17	but	but	CCONJ
fbem-21419	120	18	also	also	ADV
fbem-21419	120	19	conducive	conducive	ADJ
fbem-21419	120	20	to	to	ADP
fbem-21419	120	21	kweichow	kweichow	PROPN
fbem-21419	120	22	moutai	moutai	NOUN
fbem-21419	120	23	to	to	PART
fbem-21419	120	24	establish	establish	VERB
fbem-21419	120	25	a	a	DET
fbem-21419	120	26	long	long	ADJ
fbem-21419	120	27	-	-	PUNCT
fbem-21419	120	28	term	term	NOUN
fbem-21419	120	29	foundation	foundation	NOUN
fbem-21419	120	30	for	for	ADP
fbem-21419	120	31	sustainable	sustainable	ADJ
fbem-21419	120	32	development	development	NOUN
fbem-21419	120	33	.	.	PUNCT
fbem-21419	121	1	although	although	SCONJ
fbem-21419	121	2	kweichow	kweichow	PROPN
fbem-21419	121	3	moutai	moutai	NOUN
fbem-21419	121	4	still	still	ADV
fbem-21419	121	5	maintains	maintain	VERB
fbem-21419	121	6	a	a	DET
fbem-21419	121	7	profitable	profitable	ADJ
fbem-21419	121	8	situation	situation	NOUN
fbem-21419	121	9	in	in	ADP
fbem-21419	121	10	2021	2021	NUM
fbem-21419	121	11	,	,	PUNCT
fbem-21419	121	12	special	special	ADJ
fbem-21419	121	13	attention	attention	NOUN
fbem-21419	121	14	should	should	AUX
fbem-21419	121	15	be	be	AUX
fbem-21419	121	16	paid	pay	VERB
fbem-21419	121	17	to	to	ADP
fbem-21419	121	18	whether	whether	SCONJ
fbem-21419	121	19	the	the	DET
fbem-21419	121	20	company	company	NOUN
fbem-21419	121	21	has	have	AUX
fbem-21419	121	22	a	a	DET
fbem-21419	121	23	ratio	ratio	NOUN
fbem-21419	121	24	imbalance	imbalance	NOUN
fbem-21419	121	25	between	between	ADP
fbem-21419	121	26	capital	capital	NOUN
fbem-21419	121	27	investment	investment	NOUN
fbem-21419	121	28	and	and	CCONJ
fbem-21419	121	29	sales	sale	NOUN
fbem-21419	121	30	revenue	revenue	NOUN
fbem-21419	121	31	,	,	PUNCT
fbem-21419	121	32	and	and	CCONJ
fbem-21419	121	33	whether	whether	SCONJ
fbem-21419	121	34	its	its	PRON
fbem-21419	121	35	efficiency	efficiency	NOUN
fbem-21419	121	36	in	in	ADP
fbem-21419	121	37	creating	create	VERB
fbem-21419	121	38	shareholder	shareholder	NOUN
fbem-21419	121	39	value	value	NOUN
fbem-21419	121	40	is	be	AUX
fbem-21419	121	41	at	at	ADP
fbem-21419	121	42	a	a	DET
fbem-21419	121	43	low	low	ADJ
fbem-21419	121	44	level	level	NOUN
fbem-21419	121	45	.	.	PUNCT
fbem-21419	122	1	to	to	PART
fbem-21419	122	2	sum	sum	VERB
fbem-21419	122	3	up	up	ADP
fbem-21419	122	4	,	,	PUNCT
fbem-21419	122	5	this	this	DET
fbem-21419	122	6	paper	paper	NOUN
fbem-21419	122	7	compares	compare	VERB
fbem-21419	122	8	traditional	traditional	ADJ
fbem-21419	122	9	indicators	indicator	NOUN
fbem-21419	122	10	such	such	ADJ
fbem-21419	122	11	as	as	ADP
fbem-21419	122	12	net	net	ADJ
fbem-21419	122	13	profit	profit	NOUN
fbem-21419	122	14	,	,	PUNCT
fbem-21419	122	15	net	net	ADJ
fbem-21419	122	16	profit	profit	NOUN
fbem-21419	122	17	on	on	ADP
fbem-21419	122	18	sales	sale	NOUN
fbem-21419	122	19	and	and	CCONJ
fbem-21419	122	20	return	return	VERB
fbem-21419	122	21	on	on	ADP
fbem-21419	122	22	equity	equity	NOUN
fbem-21419	122	23	with	with	ADP
fbem-21419	122	24	a	a	DET
fbem-21419	122	25	series	series	NOUN
fbem-21419	122	26	of	of	ADP
fbem-21419	122	27	measurement	measurement	NOUN
fbem-21419	122	28	means	mean	VERB
fbem-21419	122	29	such	such	ADJ
fbem-21419	122	30	as	as	ADP
fbem-21419	122	31	eva	eva	PROPN
fbem-21419	122	32	,	,	PUNCT
fbem-21419	122	33	which	which	PRON
fbem-21419	122	34	is	be	AUX
fbem-21419	122	35	sufficient	sufficient	ADJ
fbem-21419	122	36	to	to	PART
fbem-21419	122	37	verify	verify	VERB
fbem-21419	122	38	the	the	DET
fbem-21419	122	39	effective	effective	ADJ
fbem-21419	122	40	application	application	NOUN
fbem-21419	122	41	of	of	ADP
fbem-21419	122	42	eva	eva	NOUN
fbem-21419	122	43	in	in	ADP
fbem-21419	122	44	enterprise	enterprise	NOUN
fbem-21419	122	45	financial	financial	ADJ
fbem-21419	122	46	performance	performance	NOUN
fbem-21419	122	47	evaluation	evaluation	NOUN
fbem-21419	122	48	.	.	PUNCT
fbem-21419	123	1	compared	compare	VERB
fbem-21419	123	2	with	with	ADP
fbem-21419	123	3	conventional	conventional	ADJ
fbem-21419	123	4	financial	financial	ADJ
fbem-21419	123	5	performance	performance	NOUN
fbem-21419	123	6	calculation	calculation	NOUN
fbem-21419	123	7	methods	method	NOUN
fbem-21419	123	8	,	,	PUNCT
fbem-21419	123	9	eva	eva	NOUN
fbem-21419	123	10	evaluation	evaluation	NOUN
fbem-21419	123	11	system	system	NOUN
fbem-21419	123	12	is	be	AUX
fbem-21419	123	13	more	more	ADV
fbem-21419	123	14	sensitive	sensitive	ADJ
fbem-21419	123	15	and	and	CCONJ
fbem-21419	123	16	precise	precise	ADJ
fbem-21419	123	17	in	in	ADP
fbem-21419	123	18	revealing	reveal	VERB
fbem-21419	123	19	enterprise	enterprise	NOUN
fbem-21419	123	20	performance	performance	NOUN
fbem-21419	123	21	.	.	PUNCT
fbem-21419	124	1	through	through	ADP
fbem-21419	124	2	in	in	ADP
fbem-21419	124	3	-	-	PUNCT
fbem-21419	124	4	depth	depth	NOUN
fbem-21419	124	5	analysis	analysis	NOUN
fbem-21419	124	6	of	of	ADP
fbem-21419	124	7	various	various	ADJ
fbem-21419	124	8	eva	eva	NOUN
fbem-21419	124	9	subdivision	subdivision	NOUN
fbem-21419	124	10	indicators	indicator	NOUN
fbem-21419	124	11	,	,	PUNCT
fbem-21419	124	12	it	it	PRON
fbem-21419	124	13	is	be	AUX
fbem-21419	124	14	helpful	helpful	ADJ
fbem-21419	124	15	to	to	PART
fbem-21419	124	16	identify	identify	VERB
fbem-21419	124	17	the	the	DET
fbem-21419	124	18	bottlenecks	bottleneck	NOUN
fbem-21419	124	19	and	and	CCONJ
fbem-21419	124	20	defects	defect	NOUN
fbem-21419	124	21	existing	exist	VERB
fbem-21419	124	22	in	in	ADP
fbem-21419	124	23	the	the	DET
fbem-21419	124	24	operation	operation	NOUN
fbem-21419	124	25	of	of	ADP
fbem-21419	124	26	kweichow	kweichow	PROPN
fbem-21419	124	27	moutai	moutai	PROPN
fbem-21419	124	28	,	,	PUNCT
fbem-21419	124	29	which	which	PRON
fbem-21419	124	30	is	be	AUX
fbem-21419	124	31	convenient	convenient	ADJ
fbem-21419	124	32	for	for	SCONJ
fbem-21419	124	33	the	the	DET
fbem-21419	124	34	company	company	NOUN
fbem-21419	124	35	's	's	PART
fbem-21419	124	36	management	management	NOUN
fbem-21419	124	37	and	and	CCONJ
fbem-21419	124	38	operation	operation	NOUN
fbem-21419	124	39	team	team	NOUN
fbem-21419	124	40	to	to	PART
fbem-21419	124	41	optimize	optimize	VERB
fbem-21419	124	42	financial	financial	ADJ
fbem-21419	124	43	management	management	NOUN
fbem-21419	124	44	and	and	CCONJ
fbem-21419	124	45	improve	improve	VERB
fbem-21419	124	46	financial	financial	ADJ
fbem-21419	124	47	status	status	NOUN
fbem-21419	124	48	based	base	VERB
fbem-21419	124	49	on	on	ADP
fbem-21419	124	50	the	the	DET
fbem-21419	124	51	actual	actual	ADJ
fbem-21419	124	52	situation	situation	NOUN
fbem-21419	124	53	of	of	ADP
fbem-21419	124	54	the	the	DET
fbem-21419	124	55	company	company	NOUN
fbem-21419	124	56	,	,	PUNCT
fbem-21419	124	57	and	and	CCONJ
fbem-21419	124	58	then	then	ADV
fbem-21419	124	59	commit	commit	VERB
fbem-21419	124	60	to	to	ADP
fbem-21419	124	61	achieving	achieve	VERB
fbem-21419	124	62	higher	high	ADJ
fbem-21419	124	63	level	level	NOUN
fbem-21419	124	64	of	of	ADP
fbem-21419	124	65	value	value	NOUN
fbem-21419	124	66	creation	creation	NOUN
fbem-21419	124	67	.	.	PUNCT
fbem-21419	125	1	4	4	X
fbem-21419	125	2	.	.	X
fbem-21419	125	3	suggestions	suggestion	NOUN
fbem-21419	125	4	for	for	ADP
fbem-21419	125	5	improving	improve	VERB
fbem-21419	125	6	kweichow	kweichow	PROPN
fbem-21419	125	7	moutai	moutai	PROPN
fbem-21419	125	8	's	's	PART
fbem-21419	125	9	financial	financial	ADJ
fbem-21419	125	10	performance	performance	NOUN
fbem-21419	125	11	4.1	4.1	NUM
fbem-21419	125	12	.	.	PUNCT
fbem-21419	126	1	optimize	optimize	VERB
fbem-21419	126	2	the	the	DET
fbem-21419	126	3	capital	capital	NOUN
fbem-21419	126	4	structure	structure	NOUN
fbem-21419	126	5	of	of	ADP
fbem-21419	126	6	enterprises	enterprise	NOUN
fbem-21419	126	7	in	in	ADP
fbem-21419	126	8	view	view	NOUN
fbem-21419	126	9	of	of	ADP
fbem-21419	126	10	the	the	DET
fbem-21419	126	11	specific	specific	ADJ
fbem-21419	126	12	situation	situation	NOUN
fbem-21419	126	13	of	of	ADP
fbem-21419	126	14	kweichow	kweichow	PROPN
fbem-21419	126	15	moutai	moutai	PROPN
fbem-21419	126	16	,	,	PUNCT
fbem-21419	126	17	the	the	DET
fbem-21419	126	18	proposed	propose	VERB
fbem-21419	126	19	strategies	strategy	NOUN
fbem-21419	126	20	to	to	PART
fbem-21419	126	21	optimize	optimize	VERB
fbem-21419	126	22	the	the	DET
fbem-21419	126	23	capital	capital	NOUN
fbem-21419	126	24	structure	structure	NOUN
fbem-21419	126	25	of	of	ADP
fbem-21419	126	26	the	the	DET
fbem-21419	126	27	enterprise	enterprise	NOUN
fbem-21419	126	28	include	include	VERB
fbem-21419	126	29	but	but	CCONJ
fbem-21419	126	30	are	be	AUX
fbem-21419	126	31	not	not	PART
fbem-21419	126	32	limited	limit	VERB
fbem-21419	126	33	to	to	PART
fbem-21419	126	34	:	:	PUNCT
fbem-21419	126	35	first	first	ADV
fbem-21419	126	36	of	of	ADP
fbem-21419	126	37	all	all	PRON
fbem-21419	126	38	,	,	PUNCT
fbem-21419	126	39	in	in	ADP
fbem-21419	126	40	view	view	NOUN
fbem-21419	126	41	of	of	ADP
fbem-21419	126	42	the	the	DET
fbem-21419	126	43	company	company	NOUN
fbem-21419	126	44	's	's	PART
fbem-21419	126	45	sound	sound	ADJ
fbem-21419	126	46	financial	financial	ADJ
fbem-21419	126	47	status	status	NOUN
fbem-21419	126	48	and	and	CCONJ
fbem-21419	126	49	sufficient	sufficient	ADJ
fbem-21419	126	50	cash	cash	NOUN
fbem-21419	126	51	flow	flow	NOUN
fbem-21419	126	52	,	,	PUNCT
fbem-21419	126	53	internal	internal	ADJ
fbem-21419	126	54	financing	financing	NOUN
fbem-21419	126	55	is	be	AUX
fbem-21419	126	56	preferred	prefer	VERB
fbem-21419	126	57	,	,	PUNCT
fbem-21419	126	58	which	which	PRON
fbem-21419	126	59	can	can	AUX
fbem-21419	126	60	not	not	PART
fbem-21419	126	61	only	only	ADV
fbem-21419	126	62	enrich	enrich	VERB
fbem-21419	126	63	debt	debt	NOUN
fbem-21419	126	64	capital	capital	NOUN
fbem-21419	126	65	,	,	PUNCT
fbem-21419	126	66	optimize	optimize	VERB
fbem-21419	126	67	the	the	DET
fbem-21419	126	68	use	use	NOUN
fbem-21419	126	69	efficiency	efficiency	NOUN
fbem-21419	126	70	of	of	ADP
fbem-21419	126	71	internal	internal	ADJ
fbem-21419	126	72	funds	fund	NOUN
fbem-21419	126	73	,	,	PUNCT
fbem-21419	126	74	but	but	CCONJ
fbem-21419	126	75	also	also	ADV
fbem-21419	126	76	make	make	VERB
fbem-21419	126	77	full	full	ADJ
fbem-21419	126	78	use	use	NOUN
fbem-21419	126	79	of	of	ADP
fbem-21419	126	80	the	the	DET
fbem-21419	126	81	principle	principle	NOUN
fbem-21419	126	82	of	of	ADP
fbem-21419	126	83	financial	financial	ADJ
fbem-21419	126	84	leverage	leverage	NOUN
fbem-21419	126	85	.	.	PUNCT
fbem-21419	127	1	meanwhile	meanwhile	ADV
fbem-21419	127	2	,	,	PUNCT
fbem-21419	127	3	internal	internal	ADJ
fbem-21419	127	4	financing	financing	NOUN
fbem-21419	127	5	has	have	VERB
fbem-21419	127	6	the	the	DET
fbem-21419	127	7	advantages	advantage	NOUN
fbem-21419	127	8	of	of	ADP
fbem-21419	127	9	low	low	ADJ
fbem-21419	127	10	cost	cost	NOUN
fbem-21419	127	11	and	and	CCONJ
fbem-21419	127	12	risk	risk	NOUN
fbem-21419	127	13	resistance	resistance	NOUN
fbem-21419	127	14	,	,	PUNCT
fbem-21419	127	15	which	which	PRON
fbem-21419	127	16	is	be	AUX
fbem-21419	127	17	conducive	conducive	ADJ
fbem-21419	127	18	to	to	ADP
fbem-21419	127	19	the	the	DET
fbem-21419	127	20	longterm	longterm	ADJ
fbem-21419	127	21	development	development	NOUN
fbem-21419	127	22	of	of	ADP
fbem-21419	127	23	the	the	DET
fbem-21419	127	24	enterprise	enterprise	NOUN
fbem-21419	127	25	.	.	PUNCT
fbem-21419	128	1	secondly	secondly	ADV
fbem-21419	128	2	,	,	PUNCT
fbem-21419	128	3	according	accord	VERB
fbem-21419	128	4	to	to	ADP
fbem-21419	128	5	the	the	DET
fbem-21419	128	6	company	company	NOUN
fbem-21419	128	7	's	's	PART
fbem-21419	128	8	business	business	NOUN
fbem-21419	128	9	situation	situation	NOUN
fbem-21419	128	10	,	,	PUNCT
fbem-21419	128	11	carefully	carefully	ADV
fbem-21419	128	12	plan	plan	VERB
fbem-21419	128	13	the	the	DET
fbem-21419	128	14	financing	financing	NOUN
fbem-21419	128	15	plan	plan	NOUN
fbem-21419	128	16	,	,	PUNCT
fbem-21419	128	17	strive	strive	VERB
fbem-21419	128	18	to	to	PART
fbem-21419	128	19	avoid	avoid	VERB
fbem-21419	128	20	financing	finance	VERB
fbem-21419	128	21	risks	risk	NOUN
fbem-21419	128	22	to	to	ADP
fbem-21419	128	23	the	the	DET
fbem-21419	128	24	greatest	great	ADJ
fbem-21419	128	25	extent	extent	NOUN
fbem-21419	128	26	,	,	PUNCT
fbem-21419	128	27	to	to	PART
fbem-21419	128	28	ensure	ensure	VERB
fbem-21419	128	29	the	the	DET
fbem-21419	128	30	scientific	scientific	ADJ
fbem-21419	128	31	and	and	CCONJ
fbem-21419	128	32	reasonable	reasonable	ADJ
fbem-21419	128	33	capital	capital	NOUN
fbem-21419	128	34	structure	structure	NOUN
fbem-21419	128	35	;	;	PUNCT
fbem-21419	128	36	furthermore	furthermore	ADV
fbem-21419	128	37	,	,	PUNCT
fbem-21419	128	38	considering	consider	VERB
fbem-21419	128	39	that	that	SCONJ
fbem-21419	128	40	the	the	DET
fbem-21419	128	41	highest	high	ADJ
fbem-21419	128	42	asset	asset	NOUN
fbem-21419	128	43	-	-	PUNCT
fbem-21419	128	44	liability	liability	NOUN
fbem-21419	128	45	ratio	ratio	NOUN
fbem-21419	128	46	of	of	ADP
fbem-21419	128	47	kweichow	kweichow	PROPN
fbem-21419	128	48	moutai	moutai	NOUN
fbem-21419	128	49	from	from	ADP
fbem-21419	128	50	2019	2019	NUM
fbem-21419	128	51	to	to	ADP
fbem-21419	128	52	2023	2023	NUM
fbem-21419	128	53	is	be	AUX
fbem-21419	128	54	0.23	0.23	NUM
fbem-21419	128	55	,	,	PUNCT
fbem-21419	128	56	far	far	ADV
fbem-21419	128	57	lower	low	ADJ
fbem-21419	128	58	than	than	ADP
fbem-21419	128	59	the	the	DET
fbem-21419	128	60	recognized	recognize	VERB
fbem-21419	128	61	suitable	suitable	ADJ
fbem-21419	128	62	range	range	NOUN
fbem-21419	128	63	of	of	ADP
fbem-21419	128	64	0.4	0.4	NUM
fbem-21419	128	65	-	-	SYM
fbem-21419	128	66	0.6	0.6	NUM
fbem-21419	128	67	,	,	PUNCT
fbem-21419	128	68	kweichow	kweichow	ADP
fbem-21419	128	69	moutai	moutai	NOUN
fbem-21419	128	70	can	can	AUX
fbem-21419	128	71	prudently	prudently	ADV
fbem-21419	128	72	increase	increase	VERB
fbem-21419	128	73	the	the	DET
fbem-21419	128	74	debt	debt	NOUN
fbem-21419	128	75	scale	scale	NOUN
fbem-21419	128	76	.	.	PUNCT
fbem-21419	129	1	the	the	DET
fbem-21419	129	2	demand	demand	NOUN
fbem-21419	129	3	for	for	ADP
fbem-21419	129	4	a	a	DET
fbem-21419	129	5	large	large	ADJ
fbem-21419	129	6	amount	amount	NOUN
fbem-21419	129	7	of	of	ADP
fbem-21419	129	8	r&d	r&d	NOUN
fbem-21419	129	9	investment	investment	NOUN
fbem-21419	129	10	every	every	DET
fbem-21419	129	11	year	year	NOUN
fbem-21419	129	12	can	can	AUX
fbem-21419	129	13	reduce	reduce	VERB
fbem-21419	129	14	the	the	DET
fbem-21419	129	15	dependence	dependence	NOUN
fbem-21419	129	16	on	on	ADP
fbem-21419	129	17	equity	equity	NOUN
fbem-21419	129	18	capital	capital	NOUN
fbem-21419	129	19	by	by	ADP
fbem-21419	129	20	introducing	introduce	VERB
fbem-21419	129	21	long	long	ADJ
fbem-21419	129	22	-	-	PUNCT
fbem-21419	129	23	term	term	NOUN
fbem-21419	129	24	debt	debt	NOUN
fbem-21419	129	25	financing	financing	NOUN
fbem-21419	129	26	means	mean	NOUN
fbem-21419	129	27	.	.	PUNCT
fbem-21419	130	1	sufficient	sufficient	ADJ
fbem-21419	130	2	capital	capital	NOUN
fbem-21419	130	3	injection	injection	NOUN
fbem-21419	130	4	is	be	AUX
fbem-21419	130	5	conducive	conducive	ADJ
fbem-21419	130	6	to	to	ADP
fbem-21419	130	7	the	the	DET
fbem-21419	130	8	expansion	expansion	NOUN
fbem-21419	130	9	of	of	ADP
fbem-21419	130	10	enterprise	enterprise	NOUN
fbem-21419	130	11	scale	scale	NOUN
fbem-21419	130	12	and	and	CCONJ
fbem-21419	130	13	technological	technological	ADJ
fbem-21419	130	14	transformation	transformation	NOUN
fbem-21419	130	15	,	,	PUNCT
fbem-21419	130	16	thus	thus	ADV
fbem-21419	130	17	improving	improve	VERB
fbem-21419	130	18	the	the	DET
fbem-21419	130	19	eva	eva	NOUN
fbem-21419	130	20	performance	performance	NOUN
fbem-21419	130	21	of	of	ADP
fbem-21419	130	22	economic	economic	ADJ
fbem-21419	130	23	added	add	VERB
fbem-21419	130	24	value	value	NOUN
fbem-21419	130	25	;	;	PUNCT
fbem-21419	130	26	finally	finally	ADV
fbem-21419	130	27	,	,	PUNCT
fbem-21419	130	28	in	in	ADP
fbem-21419	130	29	the	the	DET
fbem-21419	130	30	process	process	NOUN
fbem-21419	130	31	of	of	ADP
fbem-21419	130	32	resource	resource	NOUN
fbem-21419	130	33	allocation	allocation	NOUN
fbem-21419	130	34	,	,	PUNCT
fbem-21419	130	35	kweichow	kweichow	PROPN
fbem-21419	130	36	moutai	moutai	PROPN
fbem-21419	130	37	should	should	AUX
fbem-21419	130	38	pay	pay	VERB
fbem-21419	130	39	attention	attention	NOUN
fbem-21419	130	40	to	to	ADP
fbem-21419	130	41	the	the	DET
fbem-21419	130	42	proportion	proportion	NOUN
fbem-21419	130	43	of	of	ADP
fbem-21419	130	44	capital	capital	NOUN
fbem-21419	130	45	investment	investment	NOUN
fbem-21419	130	46	in	in	ADP
fbem-21419	130	47	various	various	ADJ
fbem-21419	130	48	projects	project	NOUN
fbem-21419	130	49	,	,	PUNCT
fbem-21419	130	50	cleverly	cleverly	ADV
fbem-21419	130	51	use	use	VERB
fbem-21419	130	52	the	the	DET
fbem-21419	130	53	principle	principle	NOUN
fbem-21419	130	54	of	of	ADP
fbem-21419	130	55	financial	financial	ADJ
fbem-21419	130	56	leverage	leverage	NOUN
fbem-21419	130	57	,	,	PUNCT
fbem-21419	130	58	and	and	CCONJ
fbem-21419	130	59	with	with	ADP
fbem-21419	130	60	the	the	DET
fbem-21419	130	61	guidance	guidance	NOUN
fbem-21419	130	62	of	of	ADP
fbem-21419	130	63	eva	eva	PROPN
fbem-21419	130	64	theory	theory	NOUN
fbem-21419	130	65	,	,	PUNCT
fbem-21419	130	66	constantly	constantly	ADV
fbem-21419	130	67	optimize	optimize	VERB
fbem-21419	130	68	and	and	CCONJ
fbem-21419	130	69	adjust	adjust	VERB
fbem-21419	130	70	the	the	DET
fbem-21419	130	71	capital	capital	NOUN
fbem-21419	130	72	structure	structure	NOUN
fbem-21419	130	73	,	,	PUNCT
fbem-21419	130	74	so	so	SCONJ
fbem-21419	130	75	as	as	SCONJ
fbem-21419	130	76	to	to	PART
fbem-21419	130	77	maximize	maximize	VERB
fbem-21419	130	78	the	the	DET
fbem-21419	130	79	value	value	NOUN
fbem-21419	130	80	of	of	ADP
fbem-21419	130	81	the	the	DET
fbem-21419	130	82	enterprise	enterprise	NOUN
fbem-21419	130	83	.	.	PUNCT
fbem-21419	131	1	4.2	4.2	NUM
fbem-21419	131	2	.	.	PUNCT
fbem-21419	131	3	improve	improve	VERB
fbem-21419	131	4	the	the	DET
fbem-21419	131	5	financial	financial	ADJ
fbem-21419	131	6	risk	risk	NOUN
fbem-21419	131	7	prevention	prevention	NOUN
fbem-21419	131	8	system	system	NOUN
fbem-21419	131	9	theoretically	theoretically	ADV
fbem-21419	131	10	,	,	PUNCT
fbem-21419	131	11	there	there	PRON
fbem-21419	131	12	is	be	VERB
fbem-21419	131	13	an	an	DET
fbem-21419	131	14	ideal	ideal	ADJ
fbem-21419	131	15	capital	capital	NOUN
fbem-21419	131	16	structure	structure	NOUN
fbem-21419	131	17	model	model	NOUN
fbem-21419	131	18	,	,	PUNCT
fbem-21419	131	19	but	but	CCONJ
fbem-21419	131	20	the	the	DET
fbem-21419	131	21	appropriate	appropriate	ADJ
fbem-21419	131	22	capital	capital	NOUN
fbem-21419	131	23	structure	structure	NOUN
fbem-21419	131	24	of	of	ADP
fbem-21419	131	25	each	each	DET
fbem-21419	131	26	enterprise	enterprise	NOUN
fbem-21419	131	27	is	be	AUX
fbem-21419	131	28	different	different	ADJ
fbem-21419	131	29	,	,	PUNCT
fbem-21419	131	30	so	so	CCONJ
fbem-21419	131	31	it	it	PRON
fbem-21419	131	32	is	be	AUX
fbem-21419	131	33	necessary	necessary	ADJ
fbem-21419	131	34	to	to	PART
fbem-21419	131	35	strengthen	strengthen	VERB
fbem-21419	131	36	the	the	DET
fbem-21419	131	37	special	special	ADJ
fbem-21419	131	38	research	research	NOUN
fbem-21419	131	39	on	on	ADP
fbem-21419	131	40	capital	capital	NOUN
fbem-21419	131	41	structure	structure	NOUN
fbem-21419	131	42	,	,	PUNCT
fbem-21419	131	43	quantify	quantify	VERB
fbem-21419	131	44	the	the	DET
fbem-21419	131	45	capital	capital	NOUN
fbem-21419	131	46	structure	structure	NOUN
fbem-21419	131	47	index	index	NOUN
fbem-21419	131	48	,	,	PUNCT
fbem-21419	131	49	and	and	CCONJ
fbem-21419	131	50	pay	pay	VERB
fbem-21419	131	51	close	close	ADJ
fbem-21419	131	52	attention	attention	NOUN
fbem-21419	131	53	to	to	ADP
fbem-21419	131	54	the	the	DET
fbem-21419	131	55	parameters	parameter	NOUN
fbem-21419	131	56	that	that	PRON
fbem-21419	131	57	affect	affect	VERB
fbem-21419	131	58	the	the	DET
fbem-21419	131	59	capital	capital	NOUN
fbem-21419	131	60	structure	structure	NOUN
fbem-21419	131	61	.	.	PUNCT
fbem-21419	132	1	enterprises	enterprise	NOUN
fbem-21419	132	2	should	should	AUX
fbem-21419	132	3	explore	explore	VERB
fbem-21419	132	4	the	the	DET
fbem-21419	132	5	capital	capital	NOUN
fbem-21419	132	6	structure	structure	NOUN
fbem-21419	132	7	benchmark	benchmark	NOUN
fbem-21419	132	8	in	in	ADP
fbem-21419	132	9	line	line	NOUN
fbem-21419	132	10	with	with	ADP
fbem-21419	132	11	their	their	PRON
fbem-21419	132	12	own	own	ADJ
fbem-21419	132	13	characteristics	characteristic	NOUN
fbem-21419	132	14	,	,	PUNCT
fbem-21419	132	15	and	and	CCONJ
fbem-21419	132	16	continuously	continuously	ADV
fbem-21419	132	17	optimize	optimize	VERB
fbem-21419	132	18	147	147	NUM
fbem-21419	132	19	their	their	PRON
fbem-21419	132	20	capital	capital	NOUN
fbem-21419	132	21	structure	structure	NOUN
fbem-21419	132	22	allocation	allocation	NOUN
fbem-21419	132	23	,	,	PUNCT
fbem-21419	132	24	and	and	CCONJ
fbem-21419	132	25	strive	strive	VERB
fbem-21419	132	26	to	to	PART
fbem-21419	132	27	find	find	VERB
fbem-21419	132	28	the	the	DET
fbem-21419	132	29	most	most	ADV
fbem-21419	132	30	personalized	personalized	ADJ
fbem-21419	132	31	capital	capital	NOUN
fbem-21419	132	32	structure	structure	NOUN
fbem-21419	132	33	standard	standard	NOUN
fbem-21419	132	34	that	that	PRON
fbem-21419	132	35	meets	meet	VERB
fbem-21419	132	36	the	the	DET
fbem-21419	132	37	needs	need	NOUN
fbem-21419	132	38	of	of	ADP
fbem-21419	132	39	enterprise	enterprise	NOUN
fbem-21419	132	40	development	development	NOUN
fbem-21419	132	41	.	.	PUNCT
fbem-21419	133	1	in	in	ADP
fbem-21419	133	2	the	the	DET
fbem-21419	133	3	process	process	NOUN
fbem-21419	133	4	of	of	ADP
fbem-21419	133	5	gradually	gradually	ADV
fbem-21419	133	6	increasing	increase	VERB
fbem-21419	133	7	debt	debt	NOUN
fbem-21419	133	8	capital	capital	NOUN
fbem-21419	133	9	to	to	PART
fbem-21419	133	10	adaptively	adaptively	ADV
fbem-21419	133	11	reduce	reduce	VERB
fbem-21419	133	12	the	the	DET
fbem-21419	133	13	proportion	proportion	NOUN
fbem-21419	133	14	of	of	ADP
fbem-21419	133	15	equity	equity	NOUN
fbem-21419	133	16	capital	capital	NOUN
fbem-21419	133	17	,	,	PUNCT
fbem-21419	133	18	it	it	PRON
fbem-21419	133	19	is	be	AUX
fbem-21419	133	20	bound	bind	VERB
fbem-21419	133	21	to	to	PART
fbem-21419	133	22	be	be	AUX
fbem-21419	133	23	accompanied	accompany	VERB
fbem-21419	133	24	by	by	ADP
fbem-21419	133	25	the	the	DET
fbem-21419	133	26	increase	increase	NOUN
fbem-21419	133	27	of	of	ADP
fbem-21419	133	28	financial	financial	ADJ
fbem-21419	133	29	risk	risk	NOUN
fbem-21419	133	30	.	.	PUNCT
fbem-21419	134	1	the	the	DET
fbem-21419	134	2	effective	effective	ADJ
fbem-21419	134	3	strengthening	strengthening	NOUN
fbem-21419	134	4	of	of	ADP
fbem-21419	134	5	this	this	DET
fbem-21419	134	6	mechanism	mechanism	NOUN
fbem-21419	134	7	aims	aim	VERB
fbem-21419	134	8	to	to	PART
fbem-21419	134	9	accurately	accurately	ADV
fbem-21419	134	10	control	control	VERB
fbem-21419	134	11	the	the	DET
fbem-21419	134	12	scale	scale	NOUN
fbem-21419	134	13	of	of	ADP
fbem-21419	134	14	debt	debt	NOUN
fbem-21419	134	15	financing	financing	NOUN
fbem-21419	134	16	and	and	CCONJ
fbem-21419	134	17	repayment	repayment	NOUN
fbem-21419	134	18	schedule	schedule	NOUN
fbem-21419	134	19	and	and	CCONJ
fbem-21419	134	20	other	other	ADJ
fbem-21419	134	21	key	key	ADJ
fbem-21419	134	22	elements	element	NOUN
fbem-21419	134	23	,	,	PUNCT
fbem-21419	134	24	so	so	SCONJ
fbem-21419	134	25	as	as	SCONJ
fbem-21419	134	26	to	to	PART
fbem-21419	134	27	give	give	VERB
fbem-21419	134	28	early	early	ADJ
fbem-21419	134	29	warning	warning	NOUN
fbem-21419	134	30	and	and	CCONJ
fbem-21419	134	31	properly	properly	ADV
fbem-21419	134	32	deal	deal	VERB
fbem-21419	134	33	with	with	ADP
fbem-21419	134	34	various	various	ADJ
fbem-21419	134	35	possible	possible	ADJ
fbem-21419	134	36	financial	financial	ADJ
fbem-21419	134	37	risks	risk	NOUN
fbem-21419	134	38	.	.	PUNCT
fbem-21419	135	1	in	in	ADP
fbem-21419	135	2	the	the	DET
fbem-21419	135	3	process	process	NOUN
fbem-21419	135	4	of	of	ADP
fbem-21419	135	5	strengthening	strengthen	VERB
fbem-21419	135	6	the	the	DET
fbem-21419	135	7	risk	risk	NOUN
fbem-21419	135	8	forecast	forecast	NOUN
fbem-21419	135	9	and	and	CCONJ
fbem-21419	135	10	emergency	emergency	NOUN
fbem-21419	135	11	response	response	NOUN
fbem-21419	135	12	mechanism	mechanism	NOUN
fbem-21419	135	13	,	,	PUNCT
fbem-21419	135	14	the	the	DET
fbem-21419	135	15	primary	primary	ADJ
fbem-21419	135	16	attention	attention	NOUN
fbem-21419	135	17	is	be	AUX
fbem-21419	135	18	paid	pay	VERB
fbem-21419	135	19	to	to	ADP
fbem-21419	135	20	the	the	DET
fbem-21419	135	21	changes	change	NOUN
fbem-21419	135	22	of	of	ADP
fbem-21419	135	23	core	core	ADJ
fbem-21419	135	24	growth	growth	NOUN
fbem-21419	135	25	indicators	indicator	NOUN
fbem-21419	135	26	such	such	ADJ
fbem-21419	135	27	as	as	ADP
fbem-21419	135	28	eva	eva	PROPN
fbem-21419	135	29	.	.	PUNCT
fbem-21419	136	1	for	for	ADP
fbem-21419	136	2	example	example	NOUN
fbem-21419	136	3	,	,	PUNCT
fbem-21419	136	4	in	in	ADP
fbem-21419	136	5	2021	2021	NUM
fbem-21419	136	6	,	,	PUNCT
fbem-21419	136	7	the	the	DET
fbem-21419	136	8	eva	eva	NOUN
fbem-21419	136	9	growth	growth	NOUN
fbem-21419	136	10	rate	rate	NOUN
fbem-21419	136	11	of	of	ADP
fbem-21419	136	12	kweichow	kweichow	PROPN
fbem-21419	136	13	moutai	moutai	PROPN
fbem-21419	136	14	decreased	decrease	VERB
fbem-21419	136	15	to	to	ADP
fbem-21419	136	16	1.45	1.45	NUM
fbem-21419	136	17	%	%	NOUN
fbem-21419	136	18	,	,	PUNCT
fbem-21419	136	19	which	which	PRON
fbem-21419	136	20	reveals	reveal	VERB
fbem-21419	136	21	a	a	DET
fbem-21419	136	22	significant	significant	ADJ
fbem-21419	136	23	decline	decline	NOUN
fbem-21419	136	24	in	in	ADP
fbem-21419	136	25	the	the	DET
fbem-21419	136	26	business	business	NOUN
fbem-21419	136	27	performance	performance	NOUN
fbem-21419	136	28	of	of	ADP
fbem-21419	136	29	the	the	DET
fbem-21419	136	30	enterprise	enterprise	NOUN
fbem-21419	136	31	in	in	ADP
fbem-21419	136	32	that	that	DET
fbem-21419	136	33	year	year	NOUN
fbem-21419	136	34	.	.	PUNCT
fbem-21419	137	1	at	at	ADP
fbem-21419	137	2	this	this	DET
fbem-21419	137	3	time	time	NOUN
fbem-21419	137	4	,	,	PUNCT
fbem-21419	137	5	enterprises	enterprise	NOUN
fbem-21419	137	6	need	need	VERB
fbem-21419	137	7	to	to	PART
fbem-21419	137	8	deeply	deeply	ADV
fbem-21419	137	9	explore	explore	VERB
fbem-21419	137	10	the	the	DET
fbem-21419	137	11	root	root	NOUN
fbem-21419	137	12	causes	cause	NOUN
fbem-21419	137	13	of	of	ADP
fbem-21419	137	14	performance	performance	NOUN
fbem-21419	137	15	decline	decline	NOUN
fbem-21419	137	16	,	,	PUNCT
fbem-21419	137	17	build	build	VERB
fbem-21419	137	18	a	a	DET
fbem-21419	137	19	risk	risk	NOUN
fbem-21419	137	20	prediction	prediction	NOUN
fbem-21419	137	21	model	model	NOUN
fbem-21419	137	22	prospectively	prospectively	ADV
fbem-21419	137	23	,	,	PUNCT
fbem-21419	137	24	and	and	CCONJ
fbem-21419	137	25	design	design	NOUN
fbem-21419	137	26	coping	cope	VERB
fbem-21419	137	27	strategies	strategy	NOUN
fbem-21419	137	28	for	for	ADP
fbem-21419	137	29	potential	potential	ADJ
fbem-21419	137	30	crises	crisis	NOUN
fbem-21419	137	31	that	that	PRON
fbem-21419	137	32	they	they	PRON
fbem-21419	137	33	may	may	AUX
fbem-21419	137	34	face	face	VERB
fbem-21419	137	35	in	in	ADP
fbem-21419	137	36	advance	advance	NOUN
fbem-21419	137	37	.	.	PUNCT
fbem-21419	138	1	combined	combine	VERB
fbem-21419	138	2	with	with	ADP
fbem-21419	138	3	the	the	DET
fbem-21419	138	4	specific	specific	ADJ
fbem-21419	138	5	application	application	NOUN
fbem-21419	138	6	of	of	ADP
fbem-21419	138	7	eva	eva	NOUN
fbem-21419	138	8	method	method	NOUN
fbem-21419	138	9	,	,	PUNCT
fbem-21419	138	10	a	a	DET
fbem-21419	138	11	series	series	NOUN
fbem-21419	138	12	of	of	ADP
fbem-21419	138	13	relevant	relevant	ADJ
fbem-21419	138	14	measurement	measurement	NOUN
fbem-21419	138	15	indicators	indicator	NOUN
fbem-21419	138	16	,	,	PUNCT
fbem-21419	138	17	such	such	ADJ
fbem-21419	138	18	as	as	ADP
fbem-21419	138	19	eva	eva	NOUN
fbem-21419	138	20	ratio	ratio	NOUN
fbem-21419	138	21	of	of	ADP
fbem-21419	138	22	sales	sale	NOUN
fbem-21419	138	23	and	and	CCONJ
fbem-21419	138	24	eva	eva	NOUN
fbem-21419	138	25	ratio	ratio	NOUN
fbem-21419	138	26	of	of	ADP
fbem-21419	138	27	net	net	ADJ
fbem-21419	138	28	assets	asset	NOUN
fbem-21419	138	29	,	,	PUNCT
fbem-21419	138	30	can	can	AUX
fbem-21419	138	31	be	be	AUX
fbem-21419	138	32	set	set	VERB
fbem-21419	138	33	as	as	ADP
fbem-21419	138	34	standard	standard	ADJ
fbem-21419	138	35	reference	reference	NOUN
fbem-21419	138	36	for	for	ADP
fbem-21419	138	37	risk	risk	NOUN
fbem-21419	138	38	assessment	assessment	NOUN
fbem-21419	138	39	.	.	PUNCT
fbem-21419	139	1	once	once	SCONJ
fbem-21419	139	2	these	these	DET
fbem-21419	139	3	indicators	indicator	NOUN
fbem-21419	139	4	reach	reach	VERB
fbem-21419	139	5	the	the	DET
fbem-21419	139	6	pre	pre	ADJ
fbem-21419	139	7	-	-	ADJ
fbem-21419	139	8	set	set	ADJ
fbem-21419	139	9	warning	warning	NOUN
fbem-21419	139	10	threshold	threshold	NOUN
fbem-21419	139	11	,	,	PUNCT
fbem-21419	139	12	enterprises	enterprise	NOUN
fbem-21419	139	13	must	must	AUX
fbem-21419	139	14	attach	attach	VERB
fbem-21419	139	15	great	great	ADJ
fbem-21419	139	16	importance	importance	NOUN
fbem-21419	139	17	to	to	ADP
fbem-21419	139	18	them	they	PRON
fbem-21419	139	19	and	and	CCONJ
fbem-21419	139	20	quickly	quickly	ADV
fbem-21419	139	21	start	start	VERB
fbem-21419	139	22	the	the	DET
fbem-21419	139	23	risk	risk	NOUN
fbem-21419	139	24	prevention	prevention	NOUN
fbem-21419	139	25	plan	plan	NOUN
fbem-21419	139	26	to	to	PART
fbem-21419	139	27	ensure	ensure	VERB
fbem-21419	139	28	that	that	SCONJ
fbem-21419	139	29	the	the	DET
fbem-21419	139	30	company	company	NOUN
fbem-21419	139	31	can	can	AUX
fbem-21419	139	32	timely	timely	ADV
fbem-21419	139	33	and	and	CCONJ
fbem-21419	139	34	effectively	effectively	ADV
fbem-21419	139	35	identify	identify	VERB
fbem-21419	139	36	and	and	CCONJ
fbem-21419	139	37	resolve	resolve	VERB
fbem-21419	139	38	financial	financial	ADJ
fbem-21419	139	39	risks	risk	NOUN
fbem-21419	139	40	,	,	PUNCT
fbem-21419	139	41	so	so	SCONJ
fbem-21419	139	42	as	as	SCONJ
fbem-21419	139	43	to	to	PART
fbem-21419	139	44	ensure	ensure	VERB
fbem-21419	139	45	the	the	DET
fbem-21419	139	46	steady	steady	ADJ
fbem-21419	139	47	operation	operation	NOUN
fbem-21419	139	48	of	of	ADP
fbem-21419	139	49	enterprises	enterprise	NOUN
fbem-21419	139	50	.	.	PUNCT
fbem-21419	140	1	4.3	4.3	NUM
fbem-21419	140	2	.	.	PUNCT
fbem-21419	140	3	incorporate	incorporate	VERB
fbem-21419	140	4	eva	eva	NOUN
fbem-21419	140	5	into	into	ADP
fbem-21419	140	6	the	the	DET
fbem-21419	140	7	enterprise	enterprise	NOUN
fbem-21419	140	8	performance	performance	NOUN
fbem-21419	140	9	evaluation	evaluation	NOUN
fbem-21419	140	10	system	system	NOUN
fbem-21419	140	11	the	the	DET
fbem-21419	140	12	theoretical	theoretical	ADJ
fbem-21419	140	13	construction	construction	NOUN
fbem-21419	140	14	of	of	ADP
fbem-21419	140	15	eva	eva	PROPN
fbem-21419	140	16	financial	financial	ADJ
fbem-21419	140	17	performance	performance	NOUN
fbem-21419	140	18	evaluation	evaluation	NOUN
fbem-21419	140	19	system	system	NOUN
fbem-21419	140	20	in	in	ADP
fbem-21419	140	21	china	china	PROPN
fbem-21419	140	22	is	be	AUX
fbem-21419	140	23	still	still	ADV
fbem-21419	140	24	in	in	ADP
fbem-21419	140	25	the	the	DET
fbem-21419	140	26	development	development	NOUN
fbem-21419	140	27	stage	stage	NOUN
fbem-21419	140	28	,	,	PUNCT
fbem-21419	140	29	compared	compare	VERB
fbem-21419	140	30	with	with	ADP
fbem-21419	140	31	the	the	DET
fbem-21419	140	32	traditional	traditional	ADJ
fbem-21419	140	33	financial	financial	ADJ
fbem-21419	140	34	performance	performance	NOUN
fbem-21419	140	35	evaluation	evaluation	NOUN
fbem-21419	140	36	method	method	NOUN
fbem-21419	140	37	widely	widely	ADV
fbem-21419	140	38	adopted	adopt	VERB
fbem-21419	140	39	by	by	ADP
fbem-21419	140	40	domestic	domestic	ADJ
fbem-21419	140	41	enterprises	enterprise	NOUN
fbem-21419	140	42	,	,	PUNCT
fbem-21419	140	43	it	it	PRON
fbem-21419	140	44	is	be	AUX
fbem-21419	140	45	not	not	PART
fbem-21419	140	46	suitable	suitable	ADJ
fbem-21419	140	47	to	to	PART
fbem-21419	140	48	directly	directly	ADV
fbem-21419	140	49	abandon	abandon	VERB
fbem-21419	140	50	the	the	DET
fbem-21419	140	51	latter	latter	ADJ
fbem-21419	140	52	.	.	PUNCT
fbem-21419	141	1	we	we	PRON
fbem-21419	141	2	should	should	AUX
fbem-21419	141	3	adhere	adhere	VERB
fbem-21419	141	4	to	to	ADP
fbem-21419	141	5	the	the	DET
fbem-21419	141	6	principle	principle	NOUN
fbem-21419	141	7	of	of	ADP
fbem-21419	141	8	absorbing	absorb	VERB
fbem-21419	141	9	advantages	advantage	NOUN
fbem-21419	141	10	and	and	CCONJ
fbem-21419	141	11	eliminating	eliminate	VERB
fbem-21419	141	12	disadvantages	disadvantage	NOUN
fbem-21419	141	13	,	,	PUNCT
fbem-21419	141	14	integrate	integrate	VERB
fbem-21419	141	15	eva	eva	NOUN
fbem-21419	141	16	related	relate	VERB
fbem-21419	141	17	financial	financial	ADJ
fbem-21419	141	18	indicators	indicator	NOUN
fbem-21419	141	19	into	into	ADP
fbem-21419	141	20	the	the	DET
fbem-21419	141	21	existing	exist	VERB
fbem-21419	141	22	traditional	traditional	ADJ
fbem-21419	141	23	financial	financial	ADJ
fbem-21419	141	24	performance	performance	NOUN
fbem-21419	141	25	evaluation	evaluation	NOUN
fbem-21419	141	26	framework	framework	NOUN
fbem-21419	141	27	,	,	PUNCT
fbem-21419	141	28	and	and	CCONJ
fbem-21419	141	29	realize	realize	VERB
fbem-21419	141	30	the	the	DET
fbem-21419	141	31	organic	organic	ADJ
fbem-21419	141	32	combination	combination	NOUN
fbem-21419	141	33	and	and	CCONJ
fbem-21419	141	34	complementary	complementary	ADJ
fbem-21419	141	35	use	use	NOUN
fbem-21419	141	36	of	of	ADP
fbem-21419	141	37	the	the	DET
fbem-21419	141	38	two	two	NUM
fbem-21419	141	39	evaluation	evaluation	NOUN
fbem-21419	141	40	methods	method	NOUN
fbem-21419	141	41	.	.	PUNCT
fbem-21419	142	1	in	in	ADP
fbem-21419	142	2	this	this	DET
fbem-21419	142	3	way	way	NOUN
fbem-21419	142	4	,	,	PUNCT
fbem-21419	142	5	it	it	PRON
fbem-21419	142	6	can	can	AUX
fbem-21419	142	7	not	not	PART
fbem-21419	142	8	only	only	ADV
fbem-21419	142	9	clearly	clearly	ADV
fbem-21419	142	10	show	show	VERB
fbem-21419	142	11	the	the	DET
fbem-21419	142	12	financial	financial	ADJ
fbem-21419	142	13	status	status	NOUN
fbem-21419	142	14	of	of	ADP
fbem-21419	142	15	the	the	DET
fbem-21419	142	16	company	company	NOUN
fbem-21419	142	17	,	,	PUNCT
fbem-21419	142	18	but	but	CCONJ
fbem-21419	142	19	also	also	ADV
fbem-21419	142	20	reveal	reveal	VERB
fbem-21419	142	21	the	the	DET
fbem-21419	142	22	problems	problem	NOUN
fbem-21419	142	23	existing	exist	VERB
fbem-21419	142	24	in	in	ADP
fbem-21419	142	25	the	the	DET
fbem-21419	142	26	management	management	NOUN
fbem-21419	142	27	and	and	CCONJ
fbem-21419	142	28	operation	operation	NOUN
fbem-21419	142	29	of	of	ADP
fbem-21419	142	30	the	the	DET
fbem-21419	142	31	enterprise	enterprise	NOUN
fbem-21419	142	32	and	and	CCONJ
fbem-21419	142	33	the	the	DET
fbem-21419	142	34	sustainable	sustainable	ADJ
fbem-21419	142	35	development	development	NOUN
fbem-21419	142	36	potential	potential	NOUN
fbem-21419	142	37	in	in	ADP
fbem-21419	142	38	the	the	DET
fbem-21419	142	39	future	future	NOUN
fbem-21419	142	40	through	through	ADP
fbem-21419	142	41	the	the	DET
fbem-21419	142	42	indepth	indepth	ADJ
fbem-21419	142	43	analysis	analysis	NOUN
fbem-21419	142	44	of	of	ADP
fbem-21419	142	45	various	various	ADJ
fbem-21419	142	46	indicators	indicator	NOUN
fbem-21419	142	47	.	.	PUNCT
fbem-21419	143	1	in	in	ADP
fbem-21419	143	2	the	the	DET
fbem-21419	143	3	aforementioned	aforementioned	ADJ
fbem-21419	143	4	research	research	NOUN
fbem-21419	143	5	,	,	PUNCT
fbem-21419	143	6	because	because	SCONJ
fbem-21419	143	7	eva	eva	NOUN
fbem-21419	143	8	considers	consider	VERB
fbem-21419	143	9	the	the	DET
fbem-21419	143	10	index	index	NOUN
fbem-21419	143	11	of	of	ADP
fbem-21419	143	12	cost	cost	NOUN
fbem-21419	143	13	of	of	ADP
fbem-21419	143	14	equity	equity	NOUN
fbem-21419	143	15	capital	capital	NOUN
fbem-21419	143	16	,	,	PUNCT
fbem-21419	143	17	its	its	PRON
fbem-21419	143	18	value	value	NOUN
fbem-21419	143	19	is	be	AUX
fbem-21419	143	20	often	often	ADV
fbem-21419	143	21	lower	low	ADJ
fbem-21419	143	22	than	than	ADP
fbem-21419	143	23	that	that	PRON
fbem-21419	143	24	of	of	ADP
fbem-21419	143	25	pure	pure	ADJ
fbem-21419	143	26	net	net	ADJ
fbem-21419	143	27	profit	profit	NOUN
fbem-21419	143	28	,	,	PUNCT
fbem-21419	143	29	which	which	PRON
fbem-21419	143	30	means	mean	VERB
fbem-21419	143	31	that	that	SCONJ
fbem-21419	143	32	the	the	DET
fbem-21419	143	33	enterprise	enterprise	NOUN
fbem-21419	143	34	value	value	NOUN
fbem-21419	143	35	originally	originally	ADV
fbem-21419	143	36	calculated	calculate	VERB
fbem-21419	143	37	based	base	VERB
fbem-21419	143	38	on	on	ADP
fbem-21419	143	39	net	net	ADJ
fbem-21419	143	40	profit	profit	NOUN
fbem-21419	143	41	may	may	AUX
fbem-21419	143	42	be	be	AUX
fbem-21419	143	43	overestimated	overestimate	VERB
fbem-21419	143	44	to	to	ADP
fbem-21419	143	45	some	some	DET
fbem-21419	143	46	extent	extent	NOUN
fbem-21419	143	47	.	.	PUNCT
fbem-21419	144	1	after	after	ADP
fbem-21419	144	2	the	the	DET
fbem-21419	144	3	introduction	introduction	NOUN
fbem-21419	144	4	of	of	ADP
fbem-21419	144	5	eva	eva	PROPN
fbem-21419	144	6	,	,	PUNCT
fbem-21419	144	7	through	through	ADP
fbem-21419	144	8	the	the	DET
fbem-21419	144	9	reasonable	reasonable	ADJ
fbem-21419	144	10	adjustment	adjustment	NOUN
fbem-21419	144	11	of	of	ADP
fbem-21419	144	12	the	the	DET
fbem-21419	144	13	subjects	subject	NOUN
fbem-21419	144	14	involved	involve	VERB
fbem-21419	144	15	,	,	PUNCT
fbem-21419	144	16	the	the	DET
fbem-21419	144	17	real	real	ADJ
fbem-21419	144	18	operating	operating	NOUN
fbem-21419	144	19	results	result	NOUN
fbem-21419	144	20	of	of	ADP
fbem-21419	144	21	the	the	DET
fbem-21419	144	22	enterprise	enterprise	NOUN
fbem-21419	144	23	can	can	AUX
fbem-21419	144	24	be	be	AUX
fbem-21419	144	25	more	more	ADV
fbem-21419	144	26	truly	truly	ADV
fbem-21419	144	27	and	and	CCONJ
fbem-21419	144	28	accurately	accurately	ADV
fbem-21419	144	29	reflected	reflect	VERB
fbem-21419	144	30	.	.	PUNCT
fbem-21419	145	1	kweichow	kweichow	PROPN
fbem-21419	145	2	moutai	moutai	PROPN
fbem-21419	145	3	will	will	AUX
fbem-21419	145	4	pay	pay	VERB
fbem-21419	145	5	more	more	ADJ
fbem-21419	145	6	attention	attention	NOUN
fbem-21419	145	7	to	to	ADP
fbem-21419	145	8	the	the	DET
fbem-21419	145	9	effective	effective	ADJ
fbem-21419	145	10	control	control	NOUN
fbem-21419	145	11	of	of	ADP
fbem-21419	145	12	the	the	DET
fbem-21419	145	13	cost	cost	NOUN
fbem-21419	145	14	of	of	ADP
fbem-21419	145	15	equity	equity	NOUN
fbem-21419	145	16	capital	capital	NOUN
fbem-21419	145	17	,	,	PUNCT
fbem-21419	145	18	so	so	SCONJ
fbem-21419	145	19	that	that	SCONJ
fbem-21419	145	20	the	the	DET
fbem-21419	145	21	management	management	NOUN
fbem-21419	145	22	can	can	AUX
fbem-21419	145	23	make	make	VERB
fbem-21419	145	24	more	more	ADV
fbem-21419	145	25	accurate	accurate	ADJ
fbem-21419	145	26	decisions	decision	NOUN
fbem-21419	145	27	,	,	PUNCT
fbem-21419	145	28	so	so	SCONJ
fbem-21419	145	29	as	as	SCONJ
fbem-21419	145	30	to	to	PART
fbem-21419	145	31	inhibit	inhibit	VERB
fbem-21419	145	32	the	the	DET
fbem-21419	145	33	shortterm	shortterm	NOUN
fbem-21419	145	34	speculation	speculation	NOUN
fbem-21419	145	35	tendency	tendency	NOUN
fbem-21419	145	36	of	of	ADP
fbem-21419	145	37	the	the	DET
fbem-21419	145	38	enterprise	enterprise	NOUN
fbem-21419	145	39	and	and	CCONJ
fbem-21419	145	40	ensure	ensure	VERB
fbem-21419	145	41	the	the	DET
fbem-21419	145	42	long	long	ADJ
fbem-21419	145	43	-	-	PUNCT
fbem-21419	145	44	term	term	NOUN
fbem-21419	145	45	and	and	CCONJ
fbem-21419	145	46	steady	steady	ADJ
fbem-21419	145	47	development	development	NOUN
fbem-21419	145	48	of	of	ADP
fbem-21419	145	49	kweichow	kweichow	PROPN
fbem-21419	145	50	moutai	moutai	PROPN
fbem-21419	145	51	.	.	PUNCT
fbem-21419	146	1	in	in	ADP
fbem-21419	146	2	order	order	NOUN
fbem-21419	146	3	to	to	PART
fbem-21419	146	4	ensure	ensure	VERB
fbem-21419	146	5	that	that	SCONJ
fbem-21419	146	6	all	all	DET
fbem-21419	146	7	employees	employee	NOUN
fbem-21419	146	8	of	of	ADP
fbem-21419	146	9	kweichow	kweichow	PROPN
fbem-21419	146	10	moutai	moutai	PROPN
fbem-21419	146	11	have	have	VERB
fbem-21419	146	12	a	a	DET
fbem-21419	146	13	deep	deep	ADJ
fbem-21419	146	14	understanding	understanding	NOUN
fbem-21419	146	15	of	of	ADP
fbem-21419	146	16	and	and	CCONJ
fbem-21419	146	17	attach	attach	VERB
fbem-21419	146	18	great	great	ADJ
fbem-21419	146	19	importance	importance	NOUN
fbem-21419	146	20	to	to	ADP
fbem-21419	146	21	eva	eva	PROPN
fbem-21419	146	22	as	as	ADP
fbem-21419	146	23	a	a	DET
fbem-21419	146	24	financial	financial	ADJ
fbem-21419	146	25	performance	performance	NOUN
fbem-21419	146	26	indicator	indicator	NOUN
fbem-21419	146	27	,	,	PUNCT
fbem-21419	146	28	the	the	DET
fbem-21419	146	29	enterprise	enterprise	NOUN
fbem-21419	146	30	should	should	AUX
fbem-21419	146	31	regularly	regularly	ADV
fbem-21419	146	32	organize	organize	VERB
fbem-21419	146	33	training	training	NOUN
fbem-21419	146	34	activities	activity	NOUN
fbem-21419	146	35	on	on	ADP
fbem-21419	146	36	eva	eva	NOUN
fbem-21419	146	37	related	relate	VERB
fbem-21419	146	38	knowledge	knowledge	NOUN
fbem-21419	146	39	to	to	PART
fbem-21419	146	40	improve	improve	VERB
fbem-21419	146	41	the	the	DET
fbem-21419	146	42	entire	entire	ADJ
fbem-21419	146	43	performance	performance	NOUN
fbem-21419	146	44	evaluation	evaluation	NOUN
fbem-21419	146	45	process	process	NOUN
fbem-21419	146	46	system	system	NOUN
fbem-21419	146	47	built	build	VERB
fbem-21419	146	48	around	around	ADP
fbem-21419	146	49	eva	eva	PROPN
fbem-21419	146	50	.	.	PUNCT
fbem-21419	147	1	the	the	DET
fbem-21419	147	2	purpose	purpose	NOUN
fbem-21419	147	3	of	of	ADP
fbem-21419	147	4	this	this	PRON
fbem-21419	147	5	is	be	AUX
fbem-21419	147	6	to	to	PART
fbem-21419	147	7	provide	provide	VERB
fbem-21419	147	8	a	a	DET
fbem-21419	147	9	solid	solid	ADJ
fbem-21419	147	10	foundation	foundation	NOUN
fbem-21419	147	11	support	support	NOUN
fbem-21419	147	12	for	for	ADP
fbem-21419	147	13	the	the	DET
fbem-21419	147	14	establishment	establishment	NOUN
fbem-21419	147	15	of	of	ADP
fbem-21419	147	16	enterprise	enterprise	NOUN
fbem-21419	147	17	performance	performance	NOUN
fbem-21419	147	18	appraisal	appraisal	NOUN
fbem-21419	147	19	system	system	NOUN
fbem-21419	147	20	with	with	ADP
fbem-21419	147	21	eva	eva	PROPN
fbem-21419	147	22	as	as	ADP
fbem-21419	147	23	the	the	DET
fbem-21419	147	24	core	core	NOUN
fbem-21419	147	25	.	.	PUNCT
fbem-21419	148	1	references	reference	NOUN
fbem-21419	148	2	[	[	X
fbem-21419	148	3	1	1	NUM
fbem-21419	148	4	]	]	X
fbem-21419	148	5	lizhen	lizhen	PROPN
fbem-21419	148	6	liao	liao	PROPN
fbem-21419	148	7	,	,	PUNCT
fbem-21419	148	8	jing	jing	PROPN
fbem-21419	148	9	han	han	PROPN
fbem-21419	148	10	.	.	PUNCT
fbem-21419	149	1	performance	performance	NOUN
fbem-21419	149	2	evaluation	evaluation	NOUN
fbem-21419	149	3	of	of	ADP
fbem-21419	149	4	listed	list	VERB
fbem-21419	149	5	companies	company	NOUN
fbem-21419	149	6	in	in	ADP
fbem-21419	149	7	liquor	liquor	NOUN
fbem-21419	149	8	industry	industry	NOUN
fbem-21419	149	9	based	base	VERB
fbem-21419	149	10	on	on	ADP
fbem-21419	149	11	economic	economic	ADJ
fbem-21419	149	12	value	value	NOUN
fbem-21419	149	13	added	add	VERB
fbem-21419	149	14	—	—	PUNCT
fbem-21419	149	15	—	—	PUNCT
fbem-21419	149	16	taking	take	VERB
fbem-21419	149	17	shanxi	shanxi	PROPN
fbem-21419	150	1	xinghuacun	xinghuacun	PROPN
fbem-21419	150	2	fen	fen	PROPN
fbem-21419	150	3	wine	wine	PROPN
fbem-21419	150	4	factory	factory	PROPN
fbem-21419	150	5	co.	co.	PROPN
fbem-21419	150	6	,ltd	,ltd	PROPN
fbem-21419	150	7	.	.	PUNCT
fbem-21419	151	1	as	as	ADP
fbem-21419	151	2	an	an	DET
fbem-21419	151	3	example[j	example[j	NOUN
fbem-21419	151	4	]	]	PUNCT
fbem-21419	151	5	.	.	PUNCT
fbem-21419	152	1	china	china	PROPN
fbem-21419	152	2	brewing,2022,41(01):237	brewing,2022,41(01):237	PROPN
fbem-21419	152	3	-	-	PUNCT
fbem-21419	152	4	242	242	NUM
fbem-21419	152	5	.	.	PUNCT
fbem-21419	153	1	[	[	X
fbem-21419	153	2	2	2	X
fbem-21419	153	3	]	]	PUNCT
fbem-21419	153	4	ana	ana	PROPN
fbem-21419	153	5	wang	wang	PROPN
fbem-21419	153	6	.	.	PUNCT
fbem-21419	154	1	construction	construction	NOUN
fbem-21419	154	2	and	and	CCONJ
fbem-21419	154	3	process	process	NOUN
fbem-21419	154	4	optimization	optimization	NOUN
fbem-21419	154	5	of	of	ADP
fbem-21419	154	6	university	university	PROPN
fbem-21419	154	7	comprehensive	comprehensive	ADJ
fbem-21419	154	8	budget	budget	NOUN
fbem-21419	154	9	management	management	NOUN
fbem-21419	154	10	system	system	NOUN
fbem-21419	154	11	based	base	VERB
fbem-21419	154	12	on	on	ADP
fbem-21419	154	13	eva	eva	PROPN
fbem-21419	154	14	theory[j	theory[j	PROPN
fbem-21419	154	15	]	]	PUNCT
fbem-21419	154	16	.	.	PUNCT
fbem-21419	155	1	communication	communication	NOUN
fbem-21419	155	2	of	of	ADP
fbem-21419	155	3	finance	finance	NOUN
fbem-21419	155	4	and	and	CCONJ
fbem-21419	155	5	accounting	accounting	NOUN
fbem-21419	155	6	,	,	PUNCT
fbem-21419	155	7	2022	2022	NUM
fbem-21419	155	8	,	,	PUNCT
fbem-21419	155	9	(	(	PUNCT
fbem-21419	155	10	10	10	NUM
fbem-21419	155	11	):	):	PUNCT
fbem-21419	155	12	166	166	NUM
fbem-21419	155	13	-	-	SYM
fbem-21419	155	14	171	171	NUM
fbem-21419	155	15	.	.	PUNCT
fbem-21419	156	1	[	[	X
fbem-21419	156	2	3	3	X
fbem-21419	156	3	]	]	PUNCT
fbem-21419	156	4	zirui	zirui	PROPN
fbem-21419	156	5	wang	wang	PROPN
fbem-21419	156	6	,	,	PUNCT
fbem-21419	156	7	shihui	shihui	VERB
fbem-21419	156	8	guo	guo	PROPN
fbem-21419	156	9	.	.	PUNCT
fbem-21419	157	1	impact	impact	NOUN
fbem-21419	157	2	of	of	ADP
fbem-21419	157	3	eva	eva	NOUN
fbem-21419	157	4	performance	performance	NOUN
fbem-21419	157	5	assessment	assessment	NOUN
fbem-21419	157	6	on	on	ADP
fbem-21419	157	7	classification	classification	NOUN
fbem-21419	157	8	transfer[j].journal	transfer[j].journal	ADJ
fbem-21419	157	9	of	of	ADP
fbem-21419	157	10	xi'an	xi'an	PROPN
fbem-21419	157	11	university	university	PROPN
fbem-21419	157	12	of	of	ADP
fbem-21419	157	13	finance	finance	NOUN
fbem-21419	157	14	and	and	CCONJ
fbem-21419	157	15	economics,2022,35(05):116	economics,2022,35(05):116	NOUN
fbem-21419	157	16	-	-	PUNCT
fbem-21419	157	17	128	128	NUM
fbem-21419	157	18	.	.	PUNCT
fbem-21419	158	1	[	[	X
fbem-21419	158	2	4	4	NUM
fbem-21419	158	3	]	]	X
fbem-21419	158	4	guohua	guohua	PROPN
fbem-21419	158	5	chi	chi	PROPN
fbem-21419	158	6	,	,	PUNCT
fbem-21419	158	7	junqing	junqe	VERB
fbem-21419	158	8	zhu	zhu	PROPN
fbem-21419	158	9	,	,	PUNCT
fbem-21419	158	10	lei	lei	PROPN
fbem-21419	158	11	wang	wang	PROPN
fbem-21419	158	12	.	.	PUNCT
fbem-21419	159	1	eva	eva	PROPN
fbem-21419	159	2	compensation	compensation	NOUN
fbem-21419	159	3	mechanism	mechanism	NOUN
fbem-21419	159	4	and	and	CCONJ
fbem-21419	159	5	executives	executive	NOUN
fbem-21419	159	6	'	'	PART
fbem-21419	159	7	excess	excess	ADJ
fbem-21419	159	8	on	on	ADP
fbem-21419	159	9	——	——	ADJ
fbem-21419	159	10	duty	duty	NOUN
fbem-21419	159	11	consumption	consumption	NOUN
fbem-21419	159	12	:	:	PUNCT
fbem-21419	159	13	a	a	DET
fbem-21419	159	14	moderating	moderate	VERB
fbem-21419	159	15	effect	effect	NOUN
fbem-21419	159	16	test	test	NOUN
fbem-21419	159	17	based	base	VERB
fbem-21419	159	18	on	on	ADP
fbem-21419	159	19	internal	internal	ADJ
fbem-21419	159	20	control[j	control[j	PROPN
fbem-21419	159	21	]	]	PUNCT
fbem-21419	159	22	.	.	PUNCT
fbem-21419	160	1	scientific	scientific	ADJ
fbem-21419	160	2	decision	decision	NOUN
fbem-21419	160	3	making,2022,(05):35	making,2022,(05):35	NOUN
fbem-21419	160	4	-	-	SYM
fbem-21419	160	5	56	56	NUM
fbem-21419	160	6	.	.	PUNCT
fbem-21419	161	1	[	[	X
fbem-21419	161	2	5	5	NUM
fbem-21419	161	3	]	]	PUNCT
fbem-21419	161	4	lifei	lifei	PROPN
fbem-21419	161	5	xu	xu	PROPN
fbem-21419	161	6	,	,	PUNCT
fbem-21419	161	7	xuejiao	xuejiao	PROPN
fbem-21419	161	8	wang	wang	PROPN
fbem-21419	161	9	.	.	PUNCT
fbem-21419	162	1	research	research	NOUN
fbem-21419	162	2	on	on	ADP
fbem-21419	162	3	the	the	DET
fbem-21419	162	4	valuation	valuation	NOUN
fbem-21419	162	5	model	model	NOUN
fbem-21419	162	6	of	of	ADP
fbem-21419	162	7	energy	energy	NOUN
fbem-21419	162	8	storage	storage	NOUN
fbem-21419	162	9	enterprise	enterprise	NOUN
fbem-21419	162	10	—	—	PUNCT
fbem-21419	162	11	—	—	PUNCT
fbem-21419	162	12	taking	take	VERB
fbem-21419	162	13	contemporary	contemporary	ADJ
fbem-21419	162	14	amperex	amperex	PROPN
fbem-21419	162	15	technology	technology	PROPN
fbem-21419	162	16	co.	co.	PROPN
fbem-21419	162	17	,	,	PUNCT
fbem-21419	162	18	ltd	ltd	PROPN
fbem-21419	162	19	.	.	PROPN
fbem-21419	163	1	as	as	ADP
fbem-21419	163	2	an	an	DET
fbem-21419	163	3	example[j	example[j	NOUN
fbem-21419	163	4	]	]	PUNCT
fbem-21419	163	5	.	.	PUNCT
fbem-21419	164	1	friends	friend	NOUN
fbem-21419	164	2	of	of	ADP
fbem-21419	164	3	accounting	accounting	NOUN
fbem-21419	164	4	,	,	PUNCT
fbem-21419	164	5	2022	2022	NUM
fbem-21419	164	6	,	,	PUNCT
fbem-21419	164	7	(	(	PUNCT
fbem-21419	164	8	15	15	NUM
fbem-21419	164	9	):	):	PUNCT
fbem-21419	164	10	18	18	NUM
fbem-21419	164	11	-	-	SYM
fbem-21419	164	12	25	25	NUM
fbem-21419	164	13	.	.	PUNCT
fbem-21419	165	1	[	[	X
fbem-21419	165	2	6	6	NUM
fbem-21419	165	3	]	]	X
fbem-21419	165	4	shizhuan	shizhuan	PROPN
fbem-21419	165	5	han	han	PROPN
fbem-21419	165	6	,	,	PUNCT
fbem-21419	165	7	meng	meng	PROPN
fbem-21419	165	8	jin	jin	PROPN
fbem-21419	165	9	,	,	PUNCT
fbem-21419	165	10	yao	yao	PROPN
fbem-21419	165	11	fu	fu	PROPN
fbem-21419	165	12	.	.	PUNCT
fbem-21419	166	1	research	research	NOUN
fbem-21419	166	2	on	on	ADP
fbem-21419	166	3	enterprise	enterprise	NOUN
fbem-21419	166	4	eva	eva	NOUN
fbem-21419	166	5	value	value	NOUN
fbem-21419	166	6	management	management	NOUN
fbem-21419	166	7	based	base	VERB
fbem-21419	166	8	on	on	ADP
fbem-21419	166	9	financial	financial	ADJ
fbem-21419	166	10	synergy	synergy	NOUN
fbem-21419	166	11	——	——	PUNCT
fbem-21419	166	12	a	a	DET
fbem-21419	166	13	case	case	NOUN
fbem-21419	166	14	study	study	NOUN
fbem-21419	166	15	of	of	ADP
fbem-21419	166	16	yili	yili	PROPN
fbem-21419	166	17	group	group	NOUN
fbem-21419	166	18	's	's	PART
fbem-21419	166	19	acquisition	acquisition	NOUN
fbem-21419	166	20	of	of	ADP
fbem-21419	166	21	westland[j].friends	westland[j].friend	NOUN
fbem-21419	166	22	of	of	ADP
fbem-21419	166	23	accounting,2023(18):114	accounting,2023(18):114	PROPN
fbem-21419	166	24	-	-	SYM
fbem-21419	166	25	121	121	NUM
fbem-21419	166	26	.	.	PUNCT