00:00
🎙️
welcome to business English learning business conversation about finance will be repeated two times so let's get
歡迎來到商業英語學習，關於財務的商業對話將會重複兩次，所以我們開始吧。
00:07
🎙️
started have you had a chance to review the quarterly financial statements yes I've gone through them in
您有時間檢視季度的財務報表了嗎？是的，我已經詳細地看過了。
00:14
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detail what aspects would you like to discuss let's start with the income statement how does our Revenue compare
您想討論哪些方面呢？我們從損益表開始吧。我們的營收與上季相比如何？
00:21
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to last quarter our Revenue has increased by 12% compared to the previous quarter which is a positive
我們的營收較上一季增長了12%，這是一個正面的趨勢。這令人鼓舞。
00:28
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trend that's encouraging what about our operating
我們的營業費用呢？
00:33
🎙️
expenses operating expenses have risen by 7% primarily due to increased marketing efforts and new
營業費用上升了7%，主要歸因於增加的行銷力度和新進員工。
00:40
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hires I see how has this affected our profit margins despite the increase in expenses
我明白了。這對我們的利潤率有什麼影響？儘管費用增加，
00:47
🎙️
our profit margins have improved slightly from 18% to 19.5% excellent now let's look at the
我們的利潤率仍略有提升，從18%提高到19.5%。太棒了。現在讓我們看看
00:56
🎙️
balance sheet how's our liquidity position our current current ratio has improved from 1.8 to 2.1 indicating a
資產負債表。我們的流動性狀況如何？我們的流動比率從1.8提高到2.1，顯示
01:04
🎙️
stronger short-term liquidity position that's good news what about our debt to equity
我們短期流動性狀況更加強勁。這是個好消息。那我們的負債權益比呢？
01:11
🎙️
ratio the debt to equity ratio has decreased from 0.7 to 0.6 showing we've reduced our Reliance on debt
負債權益比從0.7下降到0.6，顯示我們減少了對債務
01:19
🎙️
financing interesting how has this affected our interest expenses our interest expenses have
融資的依賴。很有趣。這對我們的利息支出有什麼影響？我們的利息支出
01:26
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decreased by 8% which has contributed positively to our bottom line excellent let's move on to the cash flow statement
減少了8%，這對我們的淨利潤有正面貢獻。太棒了。讓我們繼續看現金流量表。
01:35
🎙️
how's our operating cash flow our operating cash flow has increased by 15% primarily due to improved Collections
我們的經營現金流量如何？我們的經營現金流量增長了15%，主要歸功於改善的收款
01:43
🎙️
and inventory management that's impressive what major Capital expenditures did we have this
和庫存管理。令人印象深刻。我們本季度有什麼主要的資本支出？
01:50
🎙️
quarter we invested $2 million in new equipment and $1.5 million in software
我們在新的設備上投資了200萬美元，在軟體升級上投資了150萬美元。
01:57
🎙️
upgrades I see how is affected our free cash flow despite these Investments our free
我明白了。這對我們的自由現金流量有什麼影響？儘管有這些投資，我們的自由
02:04
🎙️
cash flow has still increased by 5% compared to last quarter that's good to hear what about
現金流量仍然比上季增長了5%。聽到這個很好。那我們的股利支付呢？
02:11
🎙️
our dividend payments we maintained our quarterly dividend of 50 cents per share which is
我們維持每股50美分的季度股利，這與我們的股利政策
02:17
🎙️
in line with our dividend policy all right looking at these numbers what do you think are our Main
相符。好的，看著這些數字，您認為我們的重點是什麼？
02:24
🎙️
Financial strengths are improved liquidity increasing revenue and strong cash flow
我們的營運現金流增長了 15%，主要歸功於收款改善和庫存管理。
02:30
🎙️
generation stand out as key strengths I agree and what about areas that need
令人印象深刻。我們本季度有哪些主要的資本支出？
02:36
🎙️
Improvement we should keep an eye on our operating expenses and look for ways to improve efficiency without compromising
我們在設備上投資了 200 萬美元，在軟體上投資了 150 萬美元。
02:44
🎙️
growth good point lastly how do these results compare to our annual forecast we're currently tracking
說得好。最後，這些結果與我們的年度預測相比如何？
02:51
🎙️
slightly above our annual forecast with Revenue 3% higher and net income 2% above
我們目前略高於年度預測，收入高出 3%，淨利潤高出 2%。
02:58
🎙️
projections let let's listen again have you had a chance to review the quarterly financial
讓我們再聽一次。您有機會審閱季度財務報表了嗎？
03:04
🎙️
statements yes I've gone through them in detail what aspects would you like to discuss let's start with the income
有，我已經詳細審閱過了。您想討論哪些方面？
03:12
🎙️
statement how does our Revenue compare to last quarter our Revenue has increased by 12% compared to the
讓我們從損益表開始。我們的收入與上季度相比如何？
03:19
🎙️
previous quarter which is a positive trend that's encouraging what about our operating
與上一季度相比，我們的收入增長了 12%，這是一個積極的趨勢。
03:26
🎙️
expenses operating expenses have risen by 7% primarily due to increased marketing
令人鼓舞。那我們的營運費用呢？
03:32
🎙️
efforts and new hires I see how has this affected our profit
營運費用因行銷力度加大和新員工入職而增加 7%。
03:37
🎙️
margins despite the increase in expenses our profit margins have improved slightly from 18% to
我明白了。這對我們的利潤有什麼影響？
03:46
🎙️
19.5% excellent now let's look at the balance sheet how's our liquidity position our current ratio has improved
儘管費用增加，但我們的利潤率仍略有提升，從 18% 提高到 19.5%。
03:54
🎙️
from 1.8 to 2.1 indicating a stronger short-term liquidity position that's good news what about our debt to
很好。現在讓我們看看資產負債表。我們的流動性狀況如何？
04:03
🎙️
equity ratio the debt to equity ratio has decreased from 0.7 to 0.6 showing we've
我們的流動比率從 1.8 提高到 2.1，表明短期流動性狀況更加強勁。
04:10
🎙️
reduced our Reliance on debt financing interesting how has this affected our interest
這是個好消息。那我們的負債權益比呢？
04:17
🎙️
expenses our interest expenses have decreased by 8% which has contributed positively to our bottom line excellent
負債權益比從 0.7 下降到 0.6，顯示我們減少了對債務融資的依賴。
04:26
🎙️
let's move on to the cash flow statement how's our operating cash flow our operating cash flow has increased by
有趣。這對我們的利息費用有什麼影響？
04:33
🎙️
15% primarily due to improved Collections and inventory management that's impressive what major
我們的利息費用減少了 8%，這對我們的利潤底線產生了積極作用。
04:41
🎙️
Capital expenditures did we have this quarter we invested 2 million in new equipment and $1.5 million in software
很好。讓我們繼續看現金流量表。我們的營運現金流如何？
04:50
🎙️
upgrades I see how has this affected our free cash flow despite these Investments our free
升級我看到了，儘管有這些投資，這對我們的自由現金流有什麼影響？
04:57
🎙️
cash flow has still increased by 5 % compared to last quarter that's good to hear what about
我們的自由現金流仍然比上一季增長了 5%，這聽起來不錯，那股息支付呢？
05:04
🎙️
our dividend payments we maintained our quarterly dividend of 50 cents per share which is
我們維持每股 50 美分的季度股息，這與我們的股息政策一致。
05:10
🎙️
in line with our dividend policy all right looking at these numbers what do you think are our Main
好，看看這些數字，你認為我們主要的財務優勢是什麼？
05:17
🎙️
Financial strengths our improved liquidity increasing revenue and strong cash flow
我們改善的流動性、增加的收入和強勁的現金流生成是關鍵優勢。
05:23
🎙️
generation stand out as key strengths I agree and what about areas that need Improvement
我同意，那需要改進的地方呢？
05:30
🎙️
we should keep an eye on our operating expenses and look for ways to improve efficiency without compromising
我們應該密切關注營運費用，並尋找在不影響成長的情況下提高效率的方法。
05:37
🎙️
growth good point lastly how do these results compare to our annual forecast we're currently tracking
很好，最後，這些結果與我們的年度預測相比如何？
05:44
🎙️
slightly above our annual forecast with Revenue 3% higher and net income 2% above
我們目前略高於年度預測，收入高出 3%，淨利潤高出 2%。
05:51
🎙️
projections go to the next conversation I'd like to discuss our company's investment strategy what's our
進入下一個話題，我想討論一下我們公司的投資策略，我們的現狀是什麼？
05:58
🎙️
current asset allocation our portfolio is currently 60% stocks 30% bonds and 10% cash
我們目前的資產配置是：股票 60%、債券 30% 和現金等價物 10%。
06:07
🎙️
equivalents how has this allocation performed over the past year we've seen a 7.5% return which is slightly above
過去一年這種配置的表現如何？我們看到了 7.5% 的回報，略高於我們的 7% 基準。
06:16
🎙️
our Benchmark of 7% that's good to hear are there any sectors we're particularly overweight in
這聽起來不錯，是否有任何我們特別偏重的行業？
06:23
🎙️
we're overweight in technology and Healthcare which have been driving our outperformance interesting what about
我們偏重科技和醫療保健行業，這些行業推動了我們的超額表現。
06:30
🎙️
Emerging Markets what's our exposure there we have a 15% allocation to Emerging Markets which has yielded mixed
有趣，那新興市場呢？我們的敞口如何？
06:39
🎙️
results due to recent volatility I see given the current economic climate should we consider
我們在新興市場的配置為 15%，由於近期波動，收益好壞參半。
06:46
🎙️
adjusting our strategy it might be worth increasing our allocation to defensive sectors and
我看到了，考慮到目前的經濟環境，我們是否應該考慮調整策略？
06:52
🎙️
reducing exposure to cyclical industries that makes sense what about our fixed income Investments
或許值得增加我們在防禦型行業的配置，並降低對循環性行業的敞口。
07:00
🎙️
we've been focusing on short to medium-term corporate bonds to balance yield and interest rate risk how are we
這有道理，那我們的固定收益投資呢？
07:06
🎙️
managing currency risk in our International Investments we're using a combination of
我們一直專注於短期至中期公司債，以平衡收益和利率風險。我們如何管理國際投資的貨幣風險？
07:12
🎙️
currency hedging and diversification across different regions to mitigate risk good approach what's our stance on
貨幣對沖以及跨足不同區域的多元化投資，有助於降低風險，這是一個不錯的做法。我們對此的立場是什麼？
07:20
🎙️
alternative Investments we have a small 5% allocation to Alternatives including
另類投資方面，我們將小部分5%的資金配置於另類投資，包括
07:26
🎙️
reats and commodities for diversification are there any new investment
REITs（房地信託投資信託）和商品，以實現多元化。是否有任何新的投資
07:31
🎙️
opportunities we should consider ESG Investments are gaining traction we could explore increasing our
機會值得我們考慮？ESG投資正在受到越來越多的關注。我們可以考慮增加我們的
07:38
🎙️
exposure to sustainable and socially responsible companies that's an interesting idea how
對永續發展和社會責任公司的投資。這是一個有趣的想法。
07:44
🎙️
would that impact our risk profile it could potentially lower our risk as ESG Focus companies tend to have
這將如何影響我們的風險承受度？這可能會潛在降低我們的風險，因為專注於ESG的公司往往具有
07:51
🎙️
better long-term sustainability all right what about our cash position is it sufficient for our
更好的長期永續性。好的，關於我們的現金部位，它是否足以應付我們的
07:57
🎙️
liquidity needs yes our current cash position covers about 6 months of operating expenses
流動性需求？是的，我們目前的現金部位約可覆蓋6個月的營運費用，
08:04
🎙️
which is in line with our policy good looking ahead what economic factors should we be most concerned
這符合我們的政策。很好，展望未來，我們最需要關注哪些經濟因素？
08:12
🎙️
about inflation interest rate changes and geopolitical tensions are the key factors we need to monitor
通膨、利率變動和地緣政治緊張局勢是我們需要密切關注的關鍵因素。
08:19
🎙️
closely agreed how often should we review and rebalance our portfolio I'd recommend quarterly
同意，我們應該多久檢視並重新平衡一次投資組合？我建議每季
08:27
🎙️
reviews with rebalancing as needed or if any asset class deviates more than 5% from our Target
檢視，並根據需要或任何資產類別偏離目標配置5%以上時進行重新平衡。
08:34
🎙️
allocation that sounds like a solid plan let's schedule a follow-up meeting to discuss implementation
這聽起來是一個穩健的計畫。我們安排一次後續會議來討論實施
08:41
🎙️
details certainly I'll send out a calendar invite for next week to dive deeper into these
細節吧。好的，我將發送下週的會議邀請，以便更深入地探討這些
08:47
🎙️
strategies let's listen again I'd like to discuss our company's investment strategy what's our current asset
策略。讓我們再聽一次。我想討論我們公司的投資策略。我們目前的資產
08:55
🎙️
allocation our portfolio is currently 60% stocks 30% bonds and 10% cash equivalents how has this allocation
配置是什麼？我們的投資組合目前配置60%股票、30%債券和10%現金等價物。
09:05
🎙️
performed over the past year we've seen a 7.5% return which is slightly above our Benchmark of
過去一年，這種配置的表現如何？我們獲得了7.5%的回報，略高於我們的基準
09:13
🎙️
7% that's good to hear are there any sectors we're particularly overweight in we're overweight in technology and
7%。這真是個好消息。是否有任何我們特別超配的產業？我們在科技和
09:21
🎙️
Healthcare which have been driving our outperformance interesting what about Emerging Markets what's our exposure
醫療保健產業超配，這些產業推動了我們的超額收益。有趣。那新興市場呢？我們的投資
09:28
🎙️
there we have a 15% allocation to Emerging Markets which has yielded mixed results
曝險是多少？我們在新興市場配置了15%的資金，但成效不一。
09:35
🎙️
due to recent volatility I see given the current economic climate should we consider
鑒於近期波動性，考量目前經濟情勢，我們是否應該考慮調整策略？
09:41
🎙️
adjusting our strategy it might be worth increasing our allocation to defensive sectors and
或許值得增加我們對防禦型產業的配置，並降低對循環型產業的曝險。
09:48
🎙️
reducing exposure to cyclical industries that makes sense what about our fixed income
這聽起來有道理，那我們的固定收益投資呢？
09:54
🎙️
Investments we've been focusing on short to medium-term corporate bonds to balance yield and interest rate risk how
我們一直專注於短期至中期的公司債，以平衡收益與利率風險。
10:02
🎙️
are we managing currency risk in our International Investments we're using a combination of
我們如何管理國際投資中的貨幣風險？
10:08
🎙️
currency hedging and diversification across different regions to mitigate risk good approach what's our stance on
我們正在使用貨幣避險以及跨足不同地區的多元化策略來降低風險。
10:16
🎙️
alternative Investments we have a small 5% allocation to Alternatives including
很好，我們對另類投資的立場是什麼？
10:22
🎙️
reats and commodities for diversification are there any new investment opportunities we should
我們有 5% 的小部分配置於另類投資，包括房地產投資信託和商品，以實現多元化。
10:28
🎙️
consider ESG Investments are gaining traction we could explore increasing our exposure to sustainable and socially
是否有我們應該考慮的新的投資機會？
10:36
🎙️
responsible companies that's an interesting idea how would that impact our risk
ESG 投資正在受到越來越多的關注，我們可以探索增加對永續且具社會責任公司的曝險。
10:42
🎙️
profile it could potentially lower our risk as ESG Focus companies tend to have better long-term
這是一個有趣的想法，這會如何影響我們的風險狀況？
10:49
🎙️
sustainability all right what about our cash position is it sufficient for our liquidity
這可能降低我們的風險，因為專注於 ESG 的公司往往具有更好的長期永續性。
10:54
🎙️
needs yes our current cash position covers about 6 months of operation expenses which is in line with our
好的，那我們的現金部位呢？它是否足以滿足我們的流動性需求？
11:02
🎙️
policy good looking ahead what economic factors should we be most concerned about inflation interest rate changes
是的，我們目前的現金部位涵蓋了約 6 個月的營運費用，這符合我們的政策。
11:11
🎙️
and geopolitical tensions are the key factors we need to monitor closely agreed how often should we
很好，展望未來，我們最應該關注哪些經濟因素？
11:18
🎙️
review and rebalance our portfolio I'd recommend quarterly reviews with rebalancing as needed or if
通膨、利率變化和地緣政治緊張局勢是我們需要密切監控的關鍵因素。
11:25
🎙️
any asset class deviates more than 5% from our Target allocation that sounds like a solid plan
同意，我們應該多久審查和再平衡一次投資組合？
11:32
🎙️
let's schedule a follow-up meeting to discuss implementation details certainly I'll send out a
我建議每季審查一次，並根據需要或任何資產類別偏離目標配置 5% 以上時進行再平衡。
11:39
🎙️
calendar invite for next week to dive deeper into these strategies go to the next
這聽起來像是一個穩健的計畫。
11:45
🎙️
conversation it's time to start our annual budget planning where should we begin let's start by reviewing last
我們安排一次後續會議來討論實施細節吧。
11:52
🎙️
year's budget versus actual performance to identify any significant variances good idea
今年預算與實際表現的比較，以找出任何重大差異，這是一個好主意。
11:59
🎙️
what were the major discrepancies we overspent on marketing by 15% but UND spent on R&D by
哪些是主要的差異？我們在行銷方面超支了 15%，但在研發方面則節省了。
12:07
🎙️
10% I see what factors contributed to these variances the marketing overspend was
10% 我明白了。是什麼因素導致了這些差異？行銷超支是
12:14
🎙️
due to an unexpected opportunity for a high-profile campaign while the R&D underspend resulted from Project
由於一個突如其來的高知名度活動機會，而研發節省則是由於專案
12:21
🎙️
delays understood how should we adjust our approach for the coming year we should build more flexibility into the
延遲造成的。我了解了。我們應該如何調整來年策略？我們應該在
12:28
🎙️
marketing budget and set clearer milestones for R and D projects agreed what about Revenue
行銷預算中建立更多彈性，並為研發專案設定更明確的里程碑。同意。那營收
12:35
🎙️
projections how should we approach those I suggest using a bottom-up approach starting with sales forecasts
預測呢？我們應該如何處理？我建議採用自下而上的方法，從各部門的銷售預測開始，
12:43
🎙️
from each division and then aggregating them that makes sense how do we account for potential economic
然後將它們彙總。這有道理。我們如何考慮潛在的經濟
12:51
🎙️
uncertainties we should create multiple scenarios base case optimistic and pessimistic to help us prepare for
不確定性？我們應該建立多種情境：基準、樂觀和悲觀，以幫助我們為
12:58
🎙️
different outcomes good thinking what about cost-saving initiatives any areas we
不同的結果做好準備。好想法。那成本節約措施呢？我們是否有
13:04
🎙️
should focus on we could look into optimizing our supply chain and potentially renegotiating some of our
應該關注的領域？我們可以研究優化我們的供應鏈，並可能重新協商一些
13:11
🎙️
long-term contracts excellent how should we handle requests for increased departmental
長期合約。很好。我們應該如何處理各部門增加預算的要求？我們應該要求提供詳細的理由，
13:18
🎙️
budgets we should require detailed justifications and tie them to specific kpis or strategic
並將其與特定的關鍵績效指標或策略目標聯繫起來。我同意。你建議的預算審批流程時間表是？
13:25
🎙️
objectives I agree what timeline do you propose for the budget approval process I suggest a two-month process
我建議採用為期兩個月的流程。
13:34
🎙️
that seems reasonable how often should we review the budget once it's approved monthly reviews would allow us
這似乎很合理。預算批准後，我們應該多久審查一次？每月審查將使我們
13:41
🎙️
to stay agile and make necessary adjustments throughout the year good point what tools or software
保持靈活，並在全年做出必要的調整。好點。我們應該使用哪些工具或軟體
13:49
🎙️
should we use for Budget planning and tracking I recommend upgrading to a cloud-based budgeting software that
進行預算規劃和追蹤？我建議升級到一款與我們現有財務系統整合的雲端預算軟體。
13:55
🎙️
integrates with our existing Financial systems sounds beneficial how do we ensure buyin
聽起來很有益處。我們如何確保所有部門主管的支持？我們應該在流程的早期階段就讓他們參與，
14:02
🎙️
from all department heads we should involve them early in the process and clearly communicate how
並清楚地說明他們的預算如何與整體公司目標保持一致。絕佳建議。我們安排一次與所有人的啟動會議吧。
14:08
🎙️
their budgets align with overall company goals excellent suggestion let's schedule a kickoff meeting with all
啟動會議。
14:15
🎙️
department heads next week I'll arrange that and prepare a presentation outlining our budgeting approach and
下週我會安排與各部門主管會面，並準備一份簡報，概述我們的預算編制方法和
14:23
🎙️
timeline let's listen again it's time to start our annual budget planning where should we be
讓我們再聽一次，現在是開始我們的年度預算規劃的時候了，我們應該從哪裡開始？
14:29
🎙️
in let's start by reviewing last year's budget versus actual performance to identify any significant
讓我們從回顧去年預算與實際績效的差異，找出任何顯著的
14:36
🎙️
variances good idea what were the major discrepancies we overspent on marketing by 15% but UND spent on R&D by
好主意，有哪些主要的差異？我們在行銷方面超支了15%，但在研發方面則減少了10%的支出。
14:46
🎙️
10% I see what factors contributed to these variances the marketing overspend was
我明白了，是什麼因素導致了這些差異？行銷超支是
14:53
🎙️
due to an unexpected opportunity for a high-profile campaign while the R&D underspend result it from Project
由於一項突顯的活動出現意料之外的機會，而研發方面的減少支出則是由於專案
15:00
🎙️
delays understood how should we adjust our approach for the coming year we should build more flexibility into the
延遲造成的。了解了。我們應該如何調整來年的方法？
15:08
🎙️
marketing budget and set clearer milestones for R&D projects agreed what about Revenue
我們應該在行銷預算中建立更多的彈性，並為研發專案設定更明確的里程碑。
15:15
🎙️
projections how should we approach those I suggest using a bottomup approach starting with sales forecasts
同意。營收預測呢？我們應該如何處理？
15:22
🎙️
from each division and then aggregating them that makes sense how do we account for potential economic
我建議採用自下而上的方法，從各部門的銷售預測開始，然後將它們彙總起來。
15:30
🎙️
uncertainties we should create multiple scenarios base case optimistic and pessimistic to help us prepare for
這有道理。我們如何考慮潛在的經濟
15:38
🎙️
different outcomes good thinking what about cost-saving initiatives any areas we
不確定性？我們應該建立多種情境，包括基準、樂觀和悲觀，以幫助我們為
15:44
🎙️
should focus on we could look into optimizing our supply chain and potentially renegotiating some of our
不同結果做好準備。好想法。關於成本節約措施呢？我們應該關注哪些領域？
15:50
🎙️
long-term contracts excellent how should we handle requests for increased departmental
我們可以研究優化供應鏈，並可能重新協商一些我們的
15:57
🎙️
budgets we should require detailed justifications and tie them to specific kpis or strategic
長期合約。很好。我們應該如何處理各部門增加預算的要求？
16:04
🎙️
objectives I agree what timeline do you propose for the budget approval process I suggest a two-month process
我們應該要求提供詳細的理由，並將其與特定的關鍵績效指標或策略
16:13
🎙️
that seems reasonable how often should we review the budget once it's approved monthly reviews would allow us
目標掛鉤。我同意。你建議的預算審批流程時間表是什麼？
16:20
🎙️
to stay agile and make necessary adjustments throughout the year good point what tools or software should we
我建議採用為期兩個月的流程。
16:28
🎙️
use for Budget planning and tracking I recommend upgrading to a cloud-based budgeting software that
這似乎很合理。預算批准後，我們應該多久審查一次？
16:35
🎙️
integrates with our existing Financial systems sounds beneficial how do we ensure buyin from all department
每月審查將使我們能夠保持靈活，並在全年進行必要的調整。
16:43
🎙️
heads we should involve them early in the process and clearly communicate how their budgets align with overall company
。
16:50
🎙️
goals excellent suggestion let's schedule a kickoff meeting with all department heads next week I'll arrange
如果是正面，我們應該在流程的早期就讓他們參與進來，並清楚地說明他們的預算如何與整體公司目標一致。
16:57
🎙️
that and prepare a presentation outlining our budgeting approach and timeline go to the next
絕佳的建議，我們安排下週與所有部門主管的啟動會議，我來安排。
17:05
🎙️
conversation we need to review our risk management strategies what are our current top
並準備一份簡報，概述我們的預算編制方法和時間表，前往下一個對話。
17:10
🎙️
risks our top risks include cyber security threats supply chain disruptions and Regulatory Compliance
我們需要審查我們的風險管理策略，我們目前的首要風險是什麼？
17:18
🎙️
issues how are we currently mitigating these risks we've implemented Advanced cyber
我們的首要風險包括網路安全威脅、供應鏈中斷和法規遵循問題。
17:24
🎙️
security measures Diversified our supplier base and established a dedic ated compliance
我們目前如何減輕這些風險？我們已實施先進的網路安全措施。
17:30
🎙️
team good are there any new emerging risks we should be aware of yes climate related risks are becoming more
多元化了我們的供應商基礎，並成立了一個專門的合規團隊。
17:38
🎙️
prominent and could affect our operations in supply chain interesting how can we incorporate
很好，是否有任何我們應該注意的新興風險？
17:45
🎙️
climate risks into our risk management framework we should conduct a climate risk assessment and develop specific
有，與氣候相關的風險正變得越來越重要，並可能影響我們的營運和供應鏈。
17:52
🎙️
mitigation strategies for identified vulnerabilities agreed what about our insurance cover
有趣，我們如何將氣候風險納入我們的風險管理框架？
17:59
🎙️
is it adequate we recently reviewed our policies but we might need to increase
我們應該進行氣候風險評估，並為已識別的漏洞制定具體的減輕策略。
18:04
🎙️
our cyber insurance coverage given the rising threats that makes sense how often do we
同意，我們的保險範圍呢？是否足夠？
18:11
🎙️
conduct risk assessments we do a comprehensive assessment annually with quarterly
我們最近審查了我們的保單，但我們可能需要增加網路保險的覆蓋範圍，以應對日益增加的威脅。
18:16
🎙️
reviews of our top risks is that frequent enough given the rapidly changing business
有道理，我們多久進行一次風險評估？
18:23
🎙️
environment we could consider implementing a continuous risk monitoring system to stay more agile
我們每年進行一次全面的評估，並每季審查我們的首要風險。
18:30
🎙️
good idea how do we ensure risk awareness across the organization we should enhance our risk
考慮到瞬息萬變的商業環境，這樣的頻率是否足夠？
18:36
🎙️
training programs and integrate risk considerations into decision-making processes at all
我們可以考慮實施持續的風險監控系統，以保持更靈活的狀態。
18:42
🎙️
levels excellent what financial instruments are we using to hedge against Market
好主意，我們如何確保組織內對風險的認知？
18:48
🎙️
risks we're using a combination of forward contracts and options to hedge against currency and commodity price
我們應該加強我們的風險培訓計畫，並將風險考量融入到各級別的決策過程中。
18:56
🎙️
fluctuations how effective have these hedging strategies been they've been quite effective reducing our exposure by
。
19:03
🎙️
approximately 60% over the past year that's good to hear are there any risks we're currently accepting rather than
波動，這些對沖策略的效果如何？它們相當有效，在過去一年中將我們的風險敞口降低了約 60%。
19:12
🎙️
mitigating yes we're accepting some Market competition risks as the cost of mitigation would outweigh the potential
很高興聽到這個消息。我們目前是否正在接受任何風險，而不是降低它們？
19:20
🎙️
benefits I see how do we quantify the potential impact of these accepted risks we use scenario analysis and Monte
是的，我們正在接受一些市場競爭風險，因為降低風險的成本將高於潛在收益。
19:29
🎙️
Carlos simulations to estimate potential Financial impacts sounds comprehensive let's
我明白了。我們如何量化這些已接受風險的潛在影響？我們使用情景分析和蒙特卡洛模擬來估計潛在的財務影響。
19:35
🎙️
schedule a deep dive into our risk quantification methods next month certainly I'll organize that and
聽起來很全面。
19:42
🎙️
prepare a detailed report on our current risk exposure and mitigation strategies let's listen again we need to
我們下個月安排一次深入探討我們的風險量化方法吧。
19:51
🎙️
review our risk management strategies what are our current top risks our top risks include cyber
當然，我會安排好並準備一份關於我們目前風險敞口和減輕策略的詳細報告。
19:58
🎙️
security threats supply chain disruptions and Regulatory Compliance issues how are we currently mitigating
我們需要審查我們的風險管理策略。我們目前的首要風險是什麼？
20:05
🎙️
these risks we've implemented Advanced cyber security measures Diversified our
我們的首要風險包括網路安全威脅、供應鏈中斷和法規遵循問題。
20:11
🎙️
supplier base and established a dedicated compliance team good are there any new emerging
我們目前如何降低這些風險？我們已實施先進的網路安全措施，多元化了我們的供應商基礎，並成立了專門的合規團隊。
20:17
🎙️
risks we should be aware of yes climate related risks are becoming more prominent and could affect our
很好。是否有任何我們應該注意的新興風險？
20:24
🎙️
operations in supply chain interesting how how can we incorporate climate risks into our risk
是的，與氣候相關的風險正變得越來越突出，並且可能會影響我們的運營和供應鏈。
20:31
🎙️
management framework we should conduct a climate risk assessment and develop specific
有趣。我們如何將氣候風險納入我們的風險管理框架？
20:37
🎙️
mitigation strategies for identified vulnerabilities agreed what about our insurance coverage is it
我們應該進行氣候風險評估，並為已識別的漏洞制定具體的減輕策略。
20:44
🎙️
adequate we recently reviewed our policies but we might need to increase our cyber insurance coverage given the
同意。那我們的保險範圍呢？是否足夠？
20:51
🎙️
rising threats that makes sense how often do we conduct risk
我們最近審查了我們的保單，但考慮到日益嚴峻的威脅，我們可能需要增加網路保險的覆蓋範圍。
20:57
🎙️
assessments we do a comprehensive assessment annually with quarterly reviews of our top
這有道理。我們多久進行一次風險評估？
21:03
🎙️
risks is that frequent enough given the rapidly changing business environment we could consider
我們每年進行一次全面的評估，並每季度審查我們的首要風險。
21:09
🎙️
implementing a continuous risk monitoring system to stay more agile good idea how do we ensure risk
考慮到瞬息萬變的商業環境，這頻率是否足夠？我們可以考慮實施持續的風險監控系統，以保持更靈活的狀態。
21:17
🎙️
awareness across the organization we should enhance our risk training programs and integrate risk
在整個組織中提高風險意識，我們應強化風險培訓計畫，並將風險考量融入各層級的決策流程中，非常好。
21:23
🎙️
considerations into decision-making processes at all levels excellent
我們用來對沖市場風險的金融工具是什麼？我們使用遠期合約和選擇權的組合來對沖貨幣和商品價格波動。
21:29
🎙️
what financial instruments are we using to hedge against Market risks we're using a combination of
這些對沖策略的效果如何？它們相當有效，在過去一年中將我們的風險敞口降低了約 60%。
21:35
🎙️
forward contracts and options to hedge against currency and commodity price fluctuations how effective have these
很高興聽到這個消息。目前我們是否接受任何風險而不加以緩解？是的，我們正在接受一些
21:42
🎙️
hedging strategies been they've been quite effective reducing our exposure by approximately 60% over the past year
市場競爭風險，因為緩解成本將高於潛在效益。我明白了。我們如何量化
21:52
🎙️
that's good to here are there any risks we're currently accepting rather than mitigating yes we're accepting some
這些已接受風險的潛在影響？我們使用情境分析和蒙地卡羅模擬來估計潛在
21:59
🎙️
Market competition risks as the cost of mitigation would outweigh the potential benefits I see how do we quantify the
的財務影響。聽起來很全面。我們安排下個月深入探討我們的風險
22:08
🎙️
potential impact of these accepted risks we use scenario analysis and Monte Carlos simulations to estimate potential
量化方法。當然，我會安排並準備一份詳細的報告，報告我們的
22:16
🎙️
Financial impacts sounds comprehensive let's schedule a deep dive into our risk
目前的風險敞口和緩解策略。進入下一個討論主題，我們正在考慮一項
22:22
🎙️
quantification methods next month certainly I'll organize that and prepare a detailed report report on our
潛在的收購案。您對此有初步評估嗎？目標公司展現出強勁的成長潛力，並且可能
22:29
🎙️
current risk exposure and mitigation strategies go to the next conversation we're considering a
為我們的現有營運帶來顯著的協同效應。有趣。我們的
22:37
🎙️
potential acquisition what's your initial assessment the target company shows strong growth potential and could
財務狀況如何？他們擁有穩固的資產負債表，負債低，營收穩定成長 15%（年增率）
22:44
🎙️
provide significant synergies with our existing operations interesting what's our
且息稅折舊及攤銷前利潤率約為 22%。這些數字令人印象深刻。他們的估值如何？他們
22:50
🎙️
Financial Health like they have a solid balance sheet with low debt steady Revenue growth of 15% year-over-year
目前的估值為收益的 12 倍，略高於行業平均水平的 10 倍。我明白了。您預見哪些協同效應
22:58
🎙️
and eida margins around 22% those are impressive numbers how does their valuation look they're
如果我們繼續進行收購，我們預計在營運和供應鏈方面取得成本協同效應，
23:06
🎙️
currently valued at 12 time IA which is slightly above the industry average of 10 I see what synergies do you foresee
以及透過交叉銷售機會產生營收協同效應。聽起來很有希望。那麼，
23:15
🎙️
if we proceed with the acquisition we could expect cost synergies in operations and supply chain
潛在的風險或挑戰呢？主要風險包括整合挑戰、潛在的文化
23:22
🎙️
as well as Revenue synergies through cross- selling opportunities sounds promising what what
衝突以及對重大資訊系統升級的需求。這些非常重要。
23:28
🎙️
about potential risks or challenges the main risks include integration challenges potential culture
關於潛在的風險或挑戰，主要風險包括整合挑戰、潛在的文化
23:35
🎙️
clash and the need for significant it system upgrades those are important
衝突以及對重大資訊系統升級的需求。這些是重要的
23:41
🎙️
considerations how would this acquisition impact our financial position it would increase our leverage
我們需要考慮這次收購將如何影響我們的財務狀況，它會將我們的負債比率從 0.3 提高到 0.5，這仍然在可接受範圍內。
23:48
🎙️
ratio from 0.3 to 0.5 which is still within a comfortable range all right what financing options
那麼，我們應該考慮哪些融資方式來完成這筆交易？我們可以採用現金、發行新債以及潛在的少量股權發行結合的方式。
23:56
🎙️
should we consider for this deal we could use a combination of cashh on hand new debt issuance and potentially a
好的建議。你估計整合過程需要多久？
24:03
🎙️
small Equity offering good suggestions how long do you estimate the integration process
根據類似的收購案例，我估計完全整合需要 12 到 18 個月。這似乎是合理的。
24:10
🎙️
would take based on similar Acquisitions I'd estimate 12 to 18 months for full integration that seems reasonable what
關於監管審批，有什麼顧慮嗎？
24:19
🎙️
about regulatory approvals any concerns there we don't foresee major regulatory hurdles but we should conduct a thorough
我們預計不會遇到重大的監管障礙，但我們應該進行徹底的反壟斷分析以確保萬無一失。
24:28
🎙️
anti trust analysis to be certain agreed how does this acquisition align with our long-term strategic
同意。這次收購如何與我們的長期戰略目標相符？
24:36
🎙️
goals it aligns well with our goal of expanding market share and diversifying our product
它與我們擴大市場份額和多元化產品組合的目標非常吻合。
24:42
🎙️
offerings excellent what's our proposed timeline for the due diligence process I suggest a 60-day due diligence
很好。我們建議的盡職調查流程時間表是什麼？
24:50
🎙️
period followed by 30 days for negotiations and deal structuring that sounds appropriate who
我建議進行 60 天的盡職調查，然後用 30 天來進行談判和交易結構設計。聽起來很合適。
24:57
🎙️
should be on our due deal Ence team we should include representatives from Finance legal operations and it as well
我們的盡職調查團隊應該包括哪些人？
25:05
🎙️
as external advisers good thinking let's set up a meeting with the board to present this
我們應該包括來自財務、法務、營運和資訊技術部門的代表，以及外部顧問。
25:11
🎙️
potential acquisition I'll prepare a comprehensive presentation outlining the opportunity
好的，我們安排一次與董事會的會議，向他們介紹這項潛在的收購案。
25:17
🎙️
risks and potential returns for the board meeting let's listen again we're
我會準備一份全面的簡報，概述這次機會、風險和潛在回報，供董事會審閱。讓我們再聽一次。
25:24
🎙️
considering a potential acquisition what's your initial assessment the target company shows strong growth
我們正在考慮一項潛在的收購，你對此有什麼初步評估？
25:30
🎙️
potential and could provide significant synergies with our existing operations interesting what's their
目標公司展現出強勁的增長潛力，並且可以為我們的現有營運帶來顯著的協同效應。
25:37
🎙️
Financial Health like they have a solid balance sheet with low debt steady Revenue growth of 15% year-over-year and
很有趣。他們的財務狀況如何？
25:45
🎙️
eitaa margins around 22% those are impressive numbers how does their valuation look they're
他們擁有穩固的資產負債表，負債低，營收穩步增長 15%（年增率），EBITA 利潤率約為 22%。
25:53
🎙️
currently valued at 12 times IA which is slightly above the industry average of 10 I see what synergies do you foresee
這些數字令人印象深刻。他們的估值如何？
26:02
🎙️
if we proceed with the acquisition we could expect cost synergies in operations and supply chain
他們目前的估值為 EBITDA 的 12 倍，略高於行業平均水平的 10 倍。我明白了。如果我們繼續進行收購，你預見到哪些協同效應？
26:09
🎙️
as well as Revenue synergies through cross- selling opportunities sounds promising what
透過交叉銷售機會創造的營收協同效應聽起來很有前景，那麼
26:15
🎙️
about potential risks or challenges the main risks include integration challenges potential culture
潛在的風險或挑戰呢？主要風險包括整合挑戰、潛在的文化
26:22
🎙️
clash and the need for significant it system upgrades those are important
衝突，以及對重大資訊系統升級的需求。這些都是重要的
26:28
🎙️
considerations how would this acquisition impact our financial position it would increase our leverage
考量。這次併購將如何影響我們的財務狀況？它會將我們的槓桿
26:35
🎙️
ratio from 03 to 0.5 which is still within a comfortable range all right what financing options
比率從 0.3 提高到 0.5，這仍然在一個舒適的範圍內。好的，我們應該考慮哪些融資選項
26:43
🎙️
should we consider for this deal we could use a combination of cash on hand new debt issuance and potentially a
用於這項交易？我們可以採用現金、發行新債以及潛在的
26:50
🎙️
small Equity offering good suggestions how long do you estimate the integration process
小規模股權發行組合。好建議。您估計整合過程需要多久？
26:57
🎙️
would take based on similar Acquisitions I'd estimate 12 to 18 months for full
根據類似的併購案例，我估計完全
27:04
🎙️
integration that seems reasonable what about regulatory approvals any concerns there we don't foresee major regulatory
整合需要 12 到 18 個月。這似乎很合理。關於法規審批呢？有任何顧慮嗎？我們預計不會有重大的法規
27:12
🎙️
hurdles but we should conduct a thorough antitrust analysis to be certain agreed how does this acquisition
障礙，但我們應該進行徹底的反壟斷分析以確保萬無一失。同意。這次併購如何
27:20
🎙️
align with our long-term strategic goals it aligns well with our goal of expanding market share and diversify ing
與我們的長期戰略目標一致？它與我們擴大市場份額和多元化
27:28
🎙️
our product offerings excellent what's our proposed timeline for the due diligence
產品組合的目標非常一致。很好。我們針對盡職調查
27:34
🎙️
process I suggest a 60-day due diligence period followed by 30 days for negotiations and deal
流程的建議時間表是什麼？我建議 60 天的盡職調查期，然後是 30 天用於談判和交易
27:42
🎙️
structuring that sounds appropriate who should be on our due diligence team we should include representatives from
結構設計。聽起來很合適。我們的盡職調查團隊應該包括哪些人？我們應該納入來自
27:49
🎙️
Finance legal operations and it as well as external advisers good thinking let's set up a
財務、法務、營運和資訊部門的代表，以及外部顧問。好想法。我們安排一個
27:56
🎙️
meeting with the board to present this potential acquisition I'll prepare a comprehensive
與董事會的會議，以介紹這次潛在的併購案。我將準備一份全面的
28:02
🎙️
presentation outlining the opportunity risks and potential returns for the board
簡報，概述機會、風險和潛在回報，供董事會
28:07
🎙️
meeting go to the next conversation we need to modernize our financial systems what areas should we
審閱。進入下一個討論，我們需要現代化我們的財務系統。我們應該優先處理哪些領域？
28:16
🎙️
prioritize our top priorities should be upgrading our Erp system implementing a new treasury management system and
我們的首要任務應該是升級我們的 ERP 系統、實施新的資金管理系統，以及
28:23
🎙️
enhancing our data analytics capabilities those sound like significant undertakings what benefits
加強我們的數據分析能力。這些聽起來都是重要的工程，會有什麼好處？
28:30
🎙️
can we expect from these upgrades we can expect improved efficiency better real-time Financial
這些升級能帶來什麼？我們可以預期效率提升、更即時的財務能見度、強化現金管理，以及更穩健的財務預測。令人印象深刻。
28:37
🎙️
visibility enhanced cash management and more robust Financial forecasting impressive what's the
這些升級的預估成本是多少？初步投資預估為 500 萬美元，後續維護和訂閱的年度成本約為 100 萬美元。
28:44
🎙️
estimated cost for these upgrades the initial investment is estimated at $5 million with ongoing
這是一項可觀的投資。預期投資報酬率是多少？我們預測在五年內可獲得 25% 的投資報酬率，主要來自成本節省和
28:51
🎙️
annual costs of about $1 million for maintenance and subscriptions that's a substantial
改善決策能力。這令人鼓舞。實施過程需要多久？
28:58
🎙️
investment what's the expected Roi we project a 25% Roi over 5 years primarily through cost savings and
我們正在考慮分階段進行，為期 18 個月，首先是 ERP 系統，然後是財務部門，最後是
29:06
🎙️
improved decision-making capabilities that's promising how long would the implementation process take
分析。我明白了。這個專案的主要風險是什麼？主要風險包括
29:14
🎙️
we're looking at a phased approach over 18 months starting with the Erp system then Treasury and finally
可能對日常營運造成干擾、資料移轉問題以及使用者接受度挑戰。
29:20
🎙️
analytics I see what are the main risks associated with this project the primary risks include
您提議我們如何減輕這些風險？我們應該投資於全面的
29:27
🎙️
potential disruptions to daily operations data migration issues and user adoption
培訓計畫、進行徹底的測試，並實施健全的變革管理
29:34
🎙️
challenges how do you propose we mitigate these risks we should invest in comprehensive
策略。好主意。這些新系統將如何與我們現有的基礎設施整合？
29:40
🎙️
training programs conduct thorough testing and Implement a robust change management
我們需要確保 API 相容性，並且可能需要為某些舊系統建立客製化整合。
29:46
🎙️
strategy good thinking how will these new systems integrate with our existing infrastructure we'll need to ensure API
我了解。關於資料安全呢？我們如何確保我們的財務資料受到保護？
29:54
🎙️
compatibility and may need to build custom Integrations for some Legacy systems understood what about data
我們將實施企業級安全措施，包括加密、多重驗證和定期安全
30:02
🎙️
security how do we ensure our financial data remains protected we'll Implement Enterprise
稽核。很好。這些新系統將如何支援我們的法規遵循工作？
30:08
🎙️
grade security measures including encryption multiactor authentication and regular security
它們將提供更好的審核記錄、自動化的合規檢查，以及更全面的報告功能。
30:15
🎙️
audits excellent how will these new Systems Support our Regulatory Compliance
這至關重要。誰應該領導這個數位轉型計畫？
30:21
🎙️
efforts they'll provide better audit Trails automated compliance checks and more comprehensive reporting capability
我建議成立一個跨部門團隊，由我們的 CTO 領導，並由財務部門提供強大的代表性。
30:29
🎙️
that's crucial who should lead this digital transformation initiative I recommend forming a cross
好建議。我們如何確保選擇到適合這些系統的供應商？
30:36
🎙️
functional team led by our CTO with strong representation from Finance good suggestion how do we ensure
我們應該進行徹底的 RFP（需求提案書）評估。
30:43
🎙️
we're choosing the right vendors for these systems we should conduct a thorough RFP
我們選擇正確的供應商，我們應該進行徹底的 RFP
30:49
🎙️
process including demos reference checks and potentially site visits to other users agreed let's put together a
流程，包括示範、參考資料核查，以及可能對其他用戶的實地考察。同意，讓我們組建一個
30:58
🎙️
detailed project plan and budget for board approval I'll work with the IT
詳細的專案計畫和預算，以供董事會批准。我將與資訊科技
31:03
🎙️
department to create a comprehensive proposal including timelines resource requirements and expected
部門合作，建立一份全面的提案，包含時程、資源需求和預期
31:10
🎙️
outcomes let's listen again we need to modernize our financial systems what areas should we
結果。讓我們再聽一次，我們需要現代化我們的財務系統。我們應該優先處理哪些領域？
31:18
🎙️
prioritize our top priorities should be upgrading our Erp system implementing a new treasury management system and
優先處理的事項應該是升級我們的 ERP 系統、導入新的資金管理系統和
31:25
🎙️
enhancing our data analytics capability ities those sound like significant undertakings what benefits can we expect
強化我們的資料分析能力。這些聽起來是重要的工作，我們可以期待什麼樣的效益？
31:33
🎙️
from these upgrades we can expect improved efficiency better real-time Financial
從這些升級中，我們可以預期效率的提升、更即時的財務
31:39
🎙️
visibility enhanced cash management and more robust Financial forecasting impressive what's the
可見性、更強大的資金管理和更穩健的財務預測。令人印象深刻，這些
31:46
🎙️
estimated cost for these upgrades the initial investment is estimated at $5 million with ongoing
升級的預估成本是多少？初步投資估計為 500 萬美元，並有持續的
31:54
🎙️
annual costs of about $1 million for maintenance and subscriptions that's a substantial investment what's
年度成本，約為 100 萬美元，用於維護和訂閱。這是一項相當大的投資，
32:01
🎙️
the expected Roi we project a 25% Roi over 5 years primarily through cost savings and
預期的投資報酬率是多少？我們預測在 5 年內可獲得 25% 的投資報酬率，主要來自成本節省和
32:08
🎙️
improved decision-making capabilities that's promising how long would the implementation process take
改善決策能力。這令人鼓舞，實施過程需要多久？
32:16
🎙️
we're looking at a phased approach over 18 months starting with the Erp system then Treasury and finally
我們正在考慮一個分階段的方案，為期18個月，首先導入ERP系統，然後是財務部門，最後是
32:22
🎙️
analytics I see what are the main risks associated with this project the primary risks include potential
分析系統。我明白了。這個專案的主要風險是什麼？主要風險包括潛在的
32:30
🎙️
disruptions to daily operations data migration issues and user adoption challenges how do you propose we
對日常營運的干擾、資料移轉問題以及使用者接受度挑戰。您建議我們如何
32:38
🎙️
mitigate these risks we should invest in comprehensive training programs conduct thorough
減輕這些風險？我們應該投資於全面的培訓計畫、進行徹底的
32:44
🎙️
testing and Implement a robust change management strategy good thinking how will these
測試，並實施健全的變革管理策略。好主意。這些新的系統將如何
32:50
🎙️
new systems integrate with our existing infrastructure we'll need to ensure API compatibility and may need to build
與我們現有的基礎設施整合？我們需要確保API相容性，並且可能需要建立
32:58
🎙️
custom Integrations for some Legacy systems understood what about data security how do we ensure our financial
自訂整合以支援某些舊系統。了解了。那資料安全呢？我們如何確保我們的財務
33:06
🎙️
data remains protected we'll Implement Enterprise grade security measures including
資料受到保護？我們將實施企業級安全措施，包括
33:12
🎙️
encryption multiactor authentication and regular security audits excellent how will these new
加密、多重因素驗證和定期安全審計。很好。這些新的系統將如何
33:20
🎙️
Systems Support our Regulatory Compliance efforts they'll provide better audit
支援我們的法規遵循工作？它們將提供更好的審計
33:25
🎙️
Trails automated compliance checks and more comprehensive reporting capabilities that's crucial who should
軌跡、自動化的合規檢查以及更全面的報告功能。這至關重要。應該由誰
33:33
🎙️
lead this digital transformation initiative I recommend forming a cross functional team led by our CTO with
領導這項數位轉型計畫？我建議成立一個跨部門團隊，由我們的CTO領導，並擁有
33:41
🎙️
strong representation from Finance good suggestion how do we ensure we're choosing the right vendors for
來自財務部門的強大代表性。好建議。我們如何確保選擇到適合這些系統的供應商？我們應該進行徹底的RFP流程，包括示範、參考資料檢查
33:47
🎙️
these systems we should conduct a thorough RFP process including demos reference checks
以及可能參觀其他使用者的實地考察。同意。讓我們擬定一份詳細的
33:54
🎙️
and potentially site visits to other users agreed let's put together a detailed
專案計畫和預算，以供董事會批准。我將與資訊部門合作，建立一個全面的
34:00
🎙️
project plan and budget for board approval I'll work with the IT department to create a comprehensive
專案計畫和預算，以供董事會批准。我將與資訊部門合作，建立一個全面的
34:07
🎙️
proposal including timelines resource requirements and expected outcomes go to the next
提案，內容包括時程、所需資源和預期成果。接下來
34:15
🎙️
conversation we're planning to expand into the Asian market what financing options should we
我們正計畫擴展至亞洲市場，請問有哪些融資選項可以考慮？
34:21
🎙️
consider we have several options including using retained earnings issuing corporate bonds or seeking a
考慮的選項包括使用保留盈餘、發行公司債或尋求
34:28
🎙️
syndicated loan from International Banks interesting what are the pros and cons of each option using retained
與國際銀行聯合貸款。很有趣，請問各選項的優缺點是什麼？使用保留盈餘
34:36
🎙️
earnings is the cheapest but may limit other Investments bonds offer fixed rates but require a strong credit rating
的成本最低，但可能會限制其他投資。公司債提供固定利率，但需要良好的信用評等。
34:43
🎙️
syndicated loans provide flexibility but might have variable rates I see given our current financial
聯合貸款具有彈性，但利率可能變動。我明白了，考慮到我們目前的財務
34:50
🎙️
position which option would you recommend I'd recommend a combination of retained earnings and a syndicated loan
狀況，您會建議哪個選項？我建議結合使用保留盈餘和聯合貸款，
34:58
🎙️
to balance cost and flexibility that makes sense how much Capital do you think we'll need for this
以平衡成本和彈性。這樣有道理。您認為這次擴張需要多少資金？
35:05
🎙️
expansion based on our projections we're looking at an initial investment of about $50 million over the next 2
根據我們的預測，在未來兩年內，我們預計需要約 5000 萬美元的初始投資。
35:13
🎙️
years that's a significant amount how will this affect our debt to equity ratio if we go with a syndicated loan
這是相當大的金額，如果我們選擇聯合貸款，這將如何影響我們的負債權益比？
35:20
🎙️
for half the amount our debt to equity ratio would increase from 0.4 to approximately 0.55
如果貸款金額為一半，我們的負債權益比將從 0.4 增加到約 0.55。
35:28
🎙️
that's still within an acceptable range what about currency risk how should we manage that we should consider natural
這個數字仍在可接受範圍內。關於匯率風險，我們應該如何管理？我們應該考慮自然
35:36
🎙️
hedging by matching revenues and costs in local currencies where possible and use forward contracts for remaining
對沖，盡可能將當地貨幣的收入和成本相匹配，並使用遠期合約來對沖剩餘
35:43
🎙️
exposure good strategy what interest rates can we expect on a syndicated loan based on current market conditions and
風險。好的策略。根據目前的市場狀況和我們的信用評等，我們可以預期聯合貸款的利率是多少？
35:51
🎙️
our credit rating we could expect an interest rate of Libor plus 150 to 200 basis
根據我們的信用評等，我們可以預期利率在倫敦銀行同業拆借利率加 150 到 200 個基點。
35:58
🎙️
points all right how long should we set the term for this loan I'd suggest a 5-year term with an
好的，我們應該將這筆貸款的期限設定為多久？我建議設定為五年期，並在三年後保留再融資的選擇權，以便在擴張過程中保持靈活性。
36:05
🎙️
option to refinance after 3 years giving us flexibility as the expansion progresses that sounds reasonable what
這樣聽起來很合理，我們應該預期貸款人提出什麼樣的契約？
36:13
🎙️
covenants should we expect from lenders we'll likely need to maintain certain financial ratios such as
我們可能需要維持某些財務比率，例如利息保障倍數和槓桿比率，並且可能同意限制額外
36:20
🎙️
interest coverage and leverage ratios and possibly agree to limitations on additional
借款。明白了，我們應該如何安排我們的亞洲業務，以優化稅務
36:25
🎙️
borrowing understood how should we structure our Asian operations to optimize tax
效率？我們應該考慮在新加坡等稅務友善的地區設立一個區域控股公司，以管理我們的亞洲子公司。
36:31
🎙️
efficiency we should consider establishing a regional holding company in a tax-friendly jurisdiction like
好的，關於利潤匯回，我們該如何處理？
36:37
🎙️
Singapore to manage our Asian subsidiaries good idea what about repatriation of profits how do we handle
我們需要仔細規劃我們的利潤匯回策略，以平衡再投資需求和稅務影響。
36:46
🎙️
that we'll need to carefully plan our repatriation strategy to balance reinvestment needs with tax implications
我們或許可以考慮使用公司內貸款或股利。好點子，你認為安排這筆融資需要多久？
36:54
🎙️
we might consider using intercompany loans or dividends excellent point how long do you think it
對於這樣規模的聯合貸款，我們應該預留兩到三個月的時間
37:00
🎙️
will take to arrange this financing for a syndicated loan of this size we should allow two to three months
用於談判和文件準備。好的，讓我們開始聯繫潛在的牽頭銀行以進行
37:07
🎙️
for negotiations and documentation all right let's start reaching out to potential lead banks for
聯合貸款。我將準備一份融資方案，並在本週開始與我們的合作銀行進行討論。
37:13
🎙️
the syndicated laan I'll prepare a financing proposal and begin discussions with our relationship Banks this
讓我們再聽一遍。我們正計劃擴展到亞洲市場，我們應該考慮哪些融資方案？
37:21
🎙️
week let's listen again we're planning to expand into the Asian market what Finance in options should we
我們有幾種選擇，包括使用保留盈餘、發行公司債券或尋求來自國際銀行的
37:29
🎙️
consider we have several options including using retained earnings issuing corporate bonds or seeking a
聯合貸款。有趣，每種方案的優缺點是什麼？使用保留盈餘
37:35
🎙️
syndicated loan from International Banks interesting what are the pros and cons of each option using retained
從國際銀行取得聯合貸款，很有趣，每種方案的優缺點是什麼？
37:44
🎙️
earnings is the cheapest but may limit other Investments bonds offer fixed rates but require a strong credit rating
使用保留盈餘最便宜，但可能會限制其他投資；債券提供固定利率，但需要良好的信用評級。
37:51
🎙️
syndicated loans provide flexibility but might have variable rates I see give in our current
聯合貸款提供靈活性，但利率可能浮動。我明白了，考慮到我們目前的
37:58
🎙️
financial position which option would you recommend I'd recommend a combination of
財務狀況，你建議哪種方案？我建議結合使用保留盈餘和聯合貸款，以平衡成本和靈活性。
38:03
🎙️
retained earnings and a syndicated loan to balance cost and flexibility that makes sense how much
這樣有道理。你認為這次擴張需要多少
38:10
🎙️
Capital do you think we'll need for this expansion based on our projections we're looking at an initial investment of
資金？根據我們的預測，我們預計在未來兩年內需要先期投資約
38:17
🎙️
about $50 million over the next 2 years that's a significant amount how will this affect our debt to equity
5000萬美元。這是一筆可觀的金額，這將如何影響我們的負債權益比？如果我們通過聯合貸款籌集一半的資金，我們的負債權益比將從0.4增加到
38:26
🎙️
ratio if we go with a syndicated loan for half the amount our debt to equity ratio would increase from 0.4 to
約0.55。這仍然在可接受範圍內。關於匯率風險，我們該如何
38:33
🎙️
approximately 0.55 that's still within an acceptable range what about currency risk how
管理？我們應該考慮自然對沖，即在可能的情況下，將當地收入和成本相匹配，
38:40
🎙️
should we manage that we should consider natural hedging by matching revenues and costs in local currencies where possible
並使用遠期合約來對沖剩餘的風險。好的策略。我們可以預期聯合貸款的利率是多少？
38:48
🎙️
and use forward contracts for remaining exposure good strategy what interest rates can we expect on a syndicated loan
基於目前的市場狀況和我們的信用評級，我們可以預期利率為Libor加150至200個
38:57
🎙️
based on current market conditions and our credit rating we could expect an interest rate of Libor plus 150 to 200
基點。好的，我們應該將這筆貸款的期限設定為多久？
39:05
🎙️
basis points all right how long should we set the term for this
我建議設定5年期限，並在3年後提供再融資選項，以便在擴張
39:10
🎙️
loan I'd suggest a 5-year term with an option to refinance after 3 years giving us flexibility as the expansion
順利進行的過程中，給我們提供靈活性。聽起來很合理。我們應該預期貸款人提出哪些條款？我們可能需要維持
39:18
🎙️
progresses that sounds reasonable what covenants should we expect from lenders we'll likely need to maintain
某些財務比率，例如利息保障倍數和槓桿比率，並可能同意對
39:25
🎙️
certain financial ratios such as interest coverage and leverage ratios and possibly agree to limitations on
額外借款的限制，我們理解。
39:32
🎙️
additional borrowing understood how should we structure our Asian operations to
額外借款，我們理解。我們應該如何架構亞洲業務以最佳化稅務效率？
39:38
🎙️
optimize tax efficiency we should consider establishing a regional holding company
最佳化稅務效率，我們應該考慮在新加坡等稅務友善的地區設立一個區域控股公司，以管理我們的亞洲子公司。好主意，那呢？
39:43
🎙️
in a tax-friendly jurisdiction like Singapore to manage our Asian subsidiaries good idea what about
在新加坡等稅務友善的地區設立一個區域控股公司，以管理我們的亞洲子公司。好主意，那呢？關於利潤匯回，我們該如何處理？
39:51
🎙️
repatriation of profits how do we handle that we'll need to carefully plan our repatriation strategy to balance
關於利潤匯回，我們該如何處理？我們需要仔細規劃利潤匯回策略，以平衡再投資需求和稅務影響。我們或許可以考慮使用公司內貸款或
39:59
🎙️
reinvestment needs with tax implications we might consider using intercompany loans or
再投資需求和稅務影響。我們或許可以考慮使用公司內貸款或股利。
40:05
🎙️
dividends excellent point how long do you think it will take to arrange this financing for a syndicated loan of this
股利。好點子。你認為安排這筆融資需要多久？對於規模如此龐大的聯合貸款，
40:13
🎙️
size we should allow two to three months for negotiations and documentation all right let's start
股利。好點子。你認為安排這筆融資需要多久？我們應該預留兩到三個月的時間進行談判和文件準備。好的，我們開始
40:19
🎙️
reaching out to potential lead banks for the syndicated loan I'll prepare a financing proposal and begin discussions
聯絡潛在的聯合貸款主導銀行，我會準備一份融資提案並開始討論
40:26
🎙️
with our relation ship Banks this week go to the next conversation we need to improve our cost
與我們往來較密切的銀行本週。進入下一個議題，我們需要改善我們的成本
40:34
🎙️
structure we're should we focus our cost reduction efforts we should look at three main
成本結構。我們應該將重點放在哪些方面以降低成本？我們應該關注三個主要
40:40
🎙️
areas good suggestions what specific measures can we take to improve operational
領域。好的建議，我們可以採取哪些具體措施來提高營運
40:46
🎙️
efficiency we can Implement lean management principles automate repetitive tasks and optimize our supply
效率？我們可以實施精益管理原則、自動化重複性任務並最佳化我們的供應
40:53
🎙️
chain Logistics sounds promising how much can we potentially save through these
鏈物流。聽起來很有希望，透過這些
40:59
🎙️
measures based on industry benchmarks we could aim for a 10 to 15% reduction and operational costs over the next 18
措施，根據行業基準，我們可以在未來18個月內將營運成本降低10%到15%。這非常顯著，關於採購，我們該如何最佳化？我們應該整合我們的供應商基礎。
41:08
🎙️
months that's significant what about procurement how can we optimize that we should consolidate our supplier base
這些措施很顯著，關於採購，我們該如何最佳化？我們應該整合我們的供應商基礎。
41:16
🎙️
negotiate volume discounts and Implement a strategic sourcing process for key materials makes sense have we considered
議價取得批量折扣，並針對關鍵材料實施策略性採購流程，有道理。我們是否考慮過
41:25
🎙️
Outsourcing any non-core functions yes we could potentially Outsource it support Peril processing and certain
外包任何非核心職能？是的，我們有可能外包資訊技術支援、風險處理以及某些
41:33
🎙️
administrative functions to reduce costs good thinking how would this affect our
行政職能以降低成本。想法很好，這將如何影響我們的
41:39
🎙️
Workforce it may lead to a reduction of about 5 to 7% of our Workforce primarily in support
人力？這可能會導致我們人力減少約 5% 到 7%，主要是在支援
41:46
🎙️
functions that's a sensitive issue how do we manage the potential impact on morale we should communicate
職能。這是一個敏感議題，我們該如何處理潛在的士氣影響？我們應該
41:54
🎙️
transparently offer retraining opportunities where possible and provide outplacement services for
透明地溝通，在可能的情況下提供再培訓機會，並為受影響的
41:59
🎙️
affected employees agreed what about our real estate footprint any opportunities there
員工提供職後輔導服務。同意。關於我們的房地產足跡，有任何機會嗎？
42:07
🎙️
we could consolidate office spaces and Implement hot desking to reduce our real estate costs by up to
我們可以整合辦公空間並實施彈性工位，以降低高達
42:14
🎙️
20% interesting how quickly can we Implement these cost-saving measures I propose a phased approach
20% 的房地產成本。有趣，我們能多快實施這些節本措施？我建議採取分階段方法
42:21
🎙️
over 24 months starting with quick wins in procurement and gradually implementing larger structural
在 24 個月內，從採購方面的快速成功開始，並逐步實施更大的結構性
42:28
🎙️
changes that seems reasonable how do we ensure these cost reductions don't impact quality or customer
變革。這似乎合理。我們如何確保這些成本降低不會影響品質或客戶
42:36
🎙️
satisfaction we should establish clear kpis to monitor quality and satisfaction levels and adjust our strategies if we
滿意度？我們應該建立明確的關鍵績效指標 (KPI) 來監控品質和滿意度水平，並在我們
42:43
🎙️
see any negative impacts good point what about energy costs any initiatives we can Implement
看到任何負面影響時調整我們的策略。好點。關於能源成本，我們有任何可以實施的措施嗎？
42:51
🎙️
there we could invest in energy efficient equipment and explore renewable energy options for our
我們可以投資於節能設備，並為我們的設施探索可再生能源選項，以降低長期能源成本。太棒了，我們如何激勵經理達成這些成本降低目標？
42:57
🎙️
facilities to reduce long-term energy costs excellent how do we incentivize managers to achieve these cost reduction
績效獎勵制度，我們可以將部分獎金與達成具體成本降低目標掛鉤，同時維持
43:06
🎙️
targets we could tie a portion of their bonuses to achieving specific cost reduction goals while maintaining
績效標準，這聽起來很合理。讓我們為這些
43:12
🎙️
performance standards that makes sense let's develop a detailed implementation plan for these
舉措制定詳細的實施計畫。我將與各部門主管合作，為他們的部門制定具體的成本降低目標和行動方案。
43:19
🎙️
initiatives I'll work with each department head to create specific cost reduction targets and action plans for
各部門制定具體的成本降低目標和行動方案。我們再聽一次，我們需要改善我們的成本結構，應該將重點放在哪裡？
43:26
🎙️
their areas let's listen again we need to improve our cost structure where should we focus
我們的成本降低工作，我們應該著重於三個主要領域。好的建議，具體
43:33
🎙️
our cost reduction efforts we should look at three main areas good suggestions what specific
我們可以採取哪些措施來提高營運效率？我們可以實施精益
43:40
🎙️
measures can we take to improve operational efficiency we can Implement lean
管理原則，自動化重複性任務，並優化我們的供應鏈。
43:45
🎙️
management principles automate repetitive tasks and optimize our supply chain
管理原則，自動化重複性任務，並優化我們的供應鏈。物流方面聽起來很有希望，透過這些措施我們可能節省多少成本？
43:51
🎙️
Logistics sounds promising how much can we potentially save through these measures
物流方面聽起來很有希望，透過這些措施我們可能節省多少成本？根據產業基準，我們可以在未來 18 個月內，將營運成本降低 10% 到 15%。
43:57
🎙️
based on industry benchmarks we could aim for a 10 to 15% reduction in operational costs over the next 18
根據產業基準，我們可以在未來 18 個月內，將營運成本降低 10% 到 15%。這非常可觀。採購方面呢？我們如何優化它？我們應該整合我們的供應商基礎，
44:05
🎙️
months that's significant what about procurement how can we optimize that we should consolidate our supplier base
整合我們的供應商基礎，協商批量折扣，並為關鍵材料實施策略性採購流程。聽起來很合理。我們有考慮過
44:13
🎙️
negotiate volume discounts and Implement a strategic sourcing process for key materials makes sense have we considered
協商批量折扣，並為關鍵材料實施策略性採購流程。聽起來很合理。我們有考慮過將任何非核心職能外包嗎？是的，我們可以潛在性地外包資訊技術支援、薪資處理
44:22
🎙️
Outsourcing any non-core functions yes we could potentially Outsource it support Peril processing
薪資處理和某些行政職能，以降低成本。好主意，這將如何
44:29
🎙️
and certain administrative functions to reduce costs good thinking how would this
影響我們的勞動力？這可能會導致我們勞動力減少約 5% 到 7%，主要是在支援職能方面。
44:35
🎙️
affect our Workforce it may lead to a reduction of about 5 to 7% of our Workforce primarily
影響我們的勞動力？這可能會導致我們勞動力減少約 5% 到 7%，主要是在支援職能方面。這是一個敏感問題，我們如何管理潛在的影響？
44:42
🎙️
in support functions that's a sensitive issue how do we manage the potential impact on
主要是透過支援職能來進行，這是一個敏感議題，我們如何管理潛在的影響？
44:48
🎙️
morale we should communicate transparently offer retraining opportunities where possible and provide
保持士氣。我們應該公開透明地溝通，盡可能提供再培訓機會，並為受影響的員工提供
44:55
🎙️
outplacement services for effect Ed employees agreed what about our real estate footprint any opportunities there
就業輔導服務。大家同意了嗎？關於我們的房地產足跡，有沒有什麼機會？
45:04
🎙️
we could consolidate office spaces and Implement hot desking to reduce our real estate costs by up to
我們可以整合辦公空間並實施彈性工位，將房地產成本降低高達
45:11
🎙️
20% interesting how quickly can we Implement these cost-saving measures I propose a phased approach
20%。有趣，我們能多快實施這些節本措施？我建議採取分階段方法，
45:18
🎙️
over 24 months starting with quick wins in procurement and gradually implementing larger structural
在 24 個月內完成，從採購方面的快速成功開始，並逐步實施更大的結構性
45:25
🎙️
changes that's seems reasonable how do we ensure these cost reductions don't impact quality or customer
變革。這似乎合理。我們如何確保這些成本降低不會影響品質或客戶
45:33
🎙️
satisfaction we should establish clear kpis to monitor quality and satisfaction levels and adjust our strategies if we
滿意度？我們應該建立明確的關鍵績效指標 (KPI) 來監控品質和滿意度水平，並在我們
45:40
🎙️
see any negative impacts good point what about energy costs any initiatives we can Implement
看到任何負面影響時調整我們的策略。好點。關於能源成本，我們能實施什麼樣的措施？
45:48
🎙️
there we could invest in energy efficient equipment and explore renewable energy options for our
那裡，我們可以投資於節能設備，並為我們的設施探索可再生能源選項，以降低長期能源成本。
45:54
🎙️
facilities to reduce long-term energy costs excellent how do we incentivize managers
很好。我們如何激勵經理達成這些成本降低目標？
46:00
🎙️
to achieve these cost reduction targets we could tie a portion of their bonuses to achieving specific cost
我們可以將他們獎金的一部分與達成特定成本降低目標掛鉤，同時維持績效標準。
46:07
🎙️
reduction goals while maintaining performance standards that makes sense let's develop
這說得通。讓我們制定
46:13
🎙️
a detailed implementation plan for these initiatives I'll work with each department head to create specific cost
一個詳細的實施計畫，以執行這些措施。我將與每個部門主管合作，為其領域制定具體的成本
46:20
🎙️
reduction targets and action plans for their areas go to the next conversation
降低目標和行動計畫。前往下一次對話。
46:27
🎙️
it's time to review our dividend policy what's our current payout ratio our current payout ratio is 40% of
現在是時候檢討我們的股利政策了，目前的股利分配率是多少？
46:35
🎙️
net income which has been consistent for the past 3 years how does this compare to Industry
淨利潤的40%，這個比例在過去三年一直保持不變。這個數字與同業相比如何？
46:41
🎙️
peers we're slightly below the industry average of 45% but our dividend yield is
我們的股利收益率具競爭力，為3.2%。我明白了。
46:47
🎙️
competitive at 3.2% I see given our recent financial performance should we consider
考慮提高股利嗎？我們可以考慮小幅提高到45%，這將使我們與
46:54
🎙️
increasing the dividend we could consider a modest increase to 45% which would align us with the
同業平均水平保持一致，並向投資者發出信心信號。這將對
47:01
🎙️
industry average and Signal confidence to investors what impact would this have on
我們的現金儲備和投資能力產生什麼影響？這將使我們的現金儲備每年減少約1000萬美元，
47:07
🎙️
our cash reserves and investment capacity it would reduce our cash reserves by approximately $10 million
但我們仍將維持足夠的流動性以進行計畫中的投資。我明白了。是否有任何稅務
47:14
🎙️
annually but we'd still maintain sufficient liquidity for Planned Investments understood are there any tax
影響需要我們考慮？預計不會有股利稅法上的重大變動，但我們應該諮詢
47:21
🎙️
implications we should consider there are no significant changes in dividend tax laws expected but we should consult
我們應該考慮的影響是，預計不會有重大的股利稅法變動，但我們應該諮詢
47:29
🎙️
with our tax advisers to confirm good point what about share BuyBacks should we consider that as an
我們的稅務顧問確認。好點。那股票回購呢？我們應該將其視為一種
47:37
🎙️
alternative share BuyBacks could be more tax efficient and provide more flexibility but they might not appeal to
替代方案嗎？股票回購可能更具稅務效率，並提供更多彈性，但它們可能無法吸引
47:43
🎙️
income focused investors true how would a dividend increase affect our credit rating given
注重收入的投資者。確實如此。鑑於
47:51
🎙️
our strong balance sheet a modest increase shouldn't negatively impact our credit rating but we should model
我們穩健的資產負債表，股利增加會如何影響我們的信用評級？適度的增加不應對我們的信用評級產生負面影響，但我們應該建立模型
47:57
🎙️
various scenarios to be sure agreed what message would an increased dividend send to the market it
以確保各種情況。同意。增加股利會向市場傳達什麼訊息？它
48:05
🎙️
would signal confidence in our future cash flows and commitment to returning value to shareholders potentially
將傳達我們對未來現金流的信心以及我們致力於向股東回報價值的承諾，可能
48:11
🎙️
attracting more long-term investors that's positive how often should we review our dividend policy
吸引更多長期投資者。很好。今後我們應該多久檢討一次我們的股利政策？
48:18
🎙️
going forward I'd recommend an annual review with the flexibility to make adjustments
我建議每年檢討一次，並具備根據情況進行調整的彈性
48:24
🎙️
if there are significant changes in our fin fincial position or market conditions makes sense should we
如果我們的財務狀況或市場條件發生重大變化。有道理。我們是否
48:31
🎙️
consider a progressive dividend policy a progressive policy could be attractive to investors but we'd need to be
應該考慮採用累進股利政策？累進政策可能對投資者具有吸引力，但我們需要
48:39
🎙️
confident in our ability to sustain increasing payouts over time good point what about special Dividends are they
確信我們有能力長期維持不斷增加的股利支付。好點。那特別股利呢？它們
48:46
🎙️
worth considering special dividends could be an option for returning excess cash to
是否值得考慮？特別股利可能是將盈餘現金回報給
48:51
🎙️
shareholders without committing to permanent increases especially after exceptional performance
股東的一種選擇，而無需承諾永久增加，尤其是在表現優異之後
48:57
🎙️
years interesting how do we balance dividend payments with our growth investment
的年份。有趣。我們如何平衡股利支付與我們的成長投資
49:03
🎙️
needs we should maintain a dividend coverage ratio of at least two ensuring we retain sufficient earnings for
需求？我們應維持至少為 2 的股利保障比率，確保我們保留足夠的收益用於
49:10
🎙️
reinvestment in the business excellent let's model the impact of increasing our payout ratio to
再投資於企業。很好。讓我們建立增加股利支付比率至
49:18
🎙️
45% and prepare a proposal for the board I'll prepare a detailed analysis including cash flow projections and
45% 的影響模型，並為董事會準備一份提案。我將準備一份詳細的分析，包括現金流預測和
49:25
🎙️
comparisons with various payout scenarios for the board meeting let's listen again it's time to
對董事會會議的各種支付情況比較。讓我們再聽一次。現在是
49:32
🎙️
review our dividend policy what's our current payout ratio our current payout ratio is 40% of
檢討我們的股利政策的時候了。我們目前的股利支付比率是多少？我們目前的股利支付比率是收益的 40%。
49:39
🎙️
net income which has been consistent for the past 3 years how does this compare to Industry
淨利潤在過去三年一直保持一致，這與同業相比如何？
49:46
🎙️
peers we're slightly below the industry average of 45% but our dividend yield is
我們略低於行業平均水準的 45%，但我們的股息收益率在 3.2% 的水平上具有競爭力。
49:52
🎙️
competitive at 3.2% I see given our recent financial performance should we consider
鑒於我們近期的財務表現，我們是否應該考慮提高股息？
49:59
🎙️
increasing the dividend we could consider a modest increase to
我們可以考慮小幅提高至 45%，這將使我們與行業平均水準保持一致，並向投資者發出信號，表明我們充滿信心。
50:04
🎙️
45% which would align us with the industry average and Signal confidence to
這將對我們的現金儲備和投資能力產生什麼影響？這將每年減少我們約 1000 萬美元的現金儲備，但我們仍將維持足夠的流動性以進行計劃中的投資。
50:09
🎙️
investors what impact would this have on our cash reserves and investment capacity it would reduce our cash
我明白了，我們是否需要考慮任何稅務影響？
50:16
🎙️
reserves by approximately $10 million annually but we'd still maintain sufficient liquidity for Planned
預計股息稅法不會有重大變化，但我們應諮詢我們的稅務顧問以確認。
50:23
🎙️
Investments understood are there any tax appliations we should consider there are no significant changes in dividend tax
好的，那股票回購呢？我們是否應該考慮將其作為替代方案？
50:31
🎙️
laws expected but we should consult with our tax advisors to confirm good point what about share
股票回購可能更具稅務效率，並提供更大的靈活性，但可能無法吸引以收益為導向的投資者。
50:38
🎙️
BuyBacks should we consider that as an alternative share BuyBacks could be more tax efficient and provide more
確實如此，提高股息會如何影響我們的信用評級？
50:46
🎙️
flexibility but they might not appeal to income focused investors true how would a dividend
鑒於我們穩健的資產負債表，適度提高股息不應對我們的信用評級產生負面影響，但我們應該對各種情況進行建模以確保萬無一失。
50:52
🎙️
increase affect our credit rating given our strong balance sheet sheet a modest increase shouldn't negatively impact our
同意，提高股息會向市場傳達什麼信息？
50:59
🎙️
credit rating but we should model various scenarios to be sure agreed what message would an
這將表明我們對未來現金流充滿信心，並致力於向股東回饋價值，從而可能吸引更多長期投資者。
51:06
🎙️
increased dividend send to the market it would signal confidence in our future cash flows and commitment to returning
這很好，今後我們應該多久審查一次股息政策？
51:13
🎙️
value to shareholders potentially attracting more long-term investors that's positive how often
我建議每年審查一次，並根據我們財務狀況或市場條件的重大變化，靈活做出調整。
51:21
🎙️
should we review our dividend policy going forward I'd recommend an annual revie
這有道理，我們是否應該考慮採用累進股息政策？
51:26
🎙️
view with the flexibility to make adjustments if there are significant changes in our financial position or
累進政策可能對投資者具有吸引力，但我們需要確信我們有能力長期維持不斷增加的股息支付。
51:32
🎙️
market conditions makes sense should we consider a progressive dividend policy a
好的，那特殊股息呢？它們值得考慮嗎？
51:39
🎙️
progressive policy could be attractive to investors but we'd need to be confident in our ability to sustain
提高股利支付的信心。好點。那特殊股息呢？
51:45
🎙️
increasing payouts over time good point what about special Dividends are they worth
考慮發放特別股利可能是將盈餘現金回饋給股東，而無需承諾
51:52
🎙️
considering special dividends could be an option for returning excess cash to shareholders without committing to
考慮發放特別股利可能是將盈餘現金回饋給股東，而無需承諾
51:58
🎙️
permanent increases especially after exceptional performance years interesting how do we balance
永久性增加的方法，尤其是在表現優異的年份之後。有趣的是，我們如何平衡
52:05
🎙️
dividend payments with our growth investment needs we should maintain a dividend
股利支付與我們的成長投資需求？我們應維持至少二倍的股利
52:10
🎙️
coverage ratio of at least two ensuring we retain sufficient earnings for reinvestment in the
覆蓋率，以確保我們保留足夠的盈餘用於再投資於
52:16
🎙️
business excellent let's model the impact of increasing our payout ratio to 45% and prepare a proposal for the board
業務。很好。我們來模擬提高股利支付率至45%的影響，並為董事會準備一份提案。
52:26
🎙️
I'll prepare a detailed analysis including cash flow projections and comparisons with various payout
我會準備一份詳細分析，包括現金流量預測以及與各種股利支付
52:32
🎙️
scenarios for the board meeting go to the next conversation our annual audit is
情境的比較，以便在董事會會議上使用。進入下一次對話。我們的年度審計即將
52:38
🎙️
approaching how are we preparing we've started our internal pre- audit review focusing on key risk
到來，我們正在如何準備？我們已經開始內部審計前審查，重點關注先前審計中發現的關鍵風險
52:45
🎙️
areas identified in previous audits good what are those key risk areas the main areas are Revenue
領域。很好。這些關鍵風險領域是什麼？主要領域是收入
52:53
🎙️
recognition inventory valuation and our International transfer pricing policies I see have we made any changes
確認、存貨估值以及我們的國際轉移定價政策。我明白了。我們今年對會計政策有任何變動嗎？
53:02
🎙️
to our accounting policies this year yes we've implemented the new lease accounting standard which will
有，我們已實施新的租賃會計準則，這將
53:09
🎙️
significantly impact our balance sheet that's a big change are we confident in our
對我們的資產負債表產生重大影響。這是一個很大的變化。我們對我們的
53:15
🎙️
implementation we've done extensive work on it but I suggest we have our internal audit team do a detailed review before
實施有信心嗎？我們已經做了大量工作，但我建議我們的內部審計團隊在
53:22
🎙️
the external Auditors arrive agreed what about our internal controls any weaknesses
外部審計師到來之前進行詳細審查。同意。我們的內部控制呢？是否發現任何弱點？
53:29
🎙️
identified we've addressed the minor issues raised last year but we're still working on improving our it General
我們已經解決了去年提出的輕微問題，但我們仍在努力改進我們的資訊科技一般
53:36
🎙️
controls all right how are we documenting these improvements we're maintaining a
控制。很好。我們如何記錄這些改進？我們正在維護一份
53:42
🎙️
comprehensive control Matrix and have implemented a new governance risk and compliance GRC software to track changes
綜合控制矩陣，並已實施新的治理、風險和合規（GRC）軟體來追蹤變更
53:49
🎙️
and testing excellent are there any new accounting standards on the horizon we
和測試。很好。地平線上是否有任何新的會計準則
53:55
🎙️
should be preparing for for yes there are upcoming changes to financial instrument accounting that
我們應該開始準備？有的，金融工具會計方面即將有變動，我們
54:01
🎙️
will need to start preparing for next year good to know how are we ensuring the accuracy of our financial statement
需要從明年開始準備。很好。我們如何確保財務報表的準確性？
54:10
🎙️
disclosures we've implemented a disclosure checklist and are conducting a peer review process for all
關於披露，我們已實施一份披露檢查清單，並針對所有重大披露進行同儕審查，確保其徹底。
54:16
🎙️
significant disclosures that's thorough what about our segment reporting any changes there
關於我們的營運部門報告，有任何變動嗎？
54:23
🎙️
with our recent expansion we're reassessing our reportable segments we may need to add a new Geographic
隨著我們最近的擴張，我們正在重新評估我們的可報告部門。我們可能需要新增一個地理區域部門。
54:29
🎙️
segment understood how are we handling the valuation of intangible assets from our recent
了解。我們如何處理近期收購的無形資產估值？
54:36
🎙️
acquisition we've engaged a thirdparty valuation specialist to ensure we have a robust and defensible
我們已聘請第三方估值專家，以確保我們擁有健全且可辯護的估值。
54:43
🎙️
valuation good decision are there any areas where we might need to make significant judgments or
這是個好決定。是否有任何領域我們可能需要做出重大判斷或估計？
54:49
🎙️
estimates the main areas are the impairment testing of Goodwill and the valuation of our pension obligation
主要領域是商譽減損測試以及養老金義務的估值。
54:57
🎙️
those can be complex are we confident in our methodologies yes but I suggest we have
這些可能很複雜。我們對我們的評估方法有信心嗎？
55:04
🎙️
our assumptions reviewed by external experts to ensure they're reasonable and supportable excellent idea let's
有，但我建議我們請外部專家審查我們的假設，以確保其合理且有依據。
55:11
🎙️
schedule a meeting with the audit committee to review our audit preparation
好主意。我們安排與審計委員會的會議，以審查我們的審計準備進度。
55:15
🎙️
progress I'll prepare a comprehensive pre- audit report and arrange the meeting for next
我會準備一份全面的審計前報告，並安排下週的會議。
55:21
🎙️
week let's listen again our annual audit is approaching how are we preparing we've started our internal
讓我們再聽一次。我們的年度審計即將到來，我們正在如何準備？我們已開始內部審計前審查，重點關注先前審計中確定的主要風險領域。
55:29
🎙️
pre-audit review focusing on key risk areas identified in previous audits good what are those key risk
很好。這些主要風險領域是什麼？
55:38
🎙️
areas the main areas are Revenue recognition inventory valuation and our International transfer pricing
主要領域是收入確認、存貨估值以及我們的國際轉移定價政策。
55:46
🎙️
policies I see have we made any changes to our accounting policies this year yes we've implemented the new lease
我明白了。我們今年有對會計政策進行任何變更嗎？
55:54
🎙️
accounting standard which will significantly impact our balance sheet that's a big change are we confident in
有，我們已實施新的租賃會計準則，這將對我們的資產負債表產生重大影響。
56:02
🎙️
our implementation we've done extensive work on it but I suggest we have our internal
這是個很大的變動。我們對我們的實施有信心嗎？
56:07
🎙️
audit team do a detailed review before the external Auditors arrive agreed what about our internal
我們已在這方面做了大量工作，但我建議我們的內部審計團隊在外部審計人員到來之前進行詳細審查。
56:14
🎙️
controls any weaknesses identified we've addressed the minor issues raised last year but we're still
同意。關於我們的內部控制，有發現任何弱點嗎？
56:21
🎙️
working on improving our it General controls all right how are we documenting these
我們已處理去年提出的次要問題，但我們仍在努力改善我們的資訊科技一般控制。
56:27
🎙️
improvements we're maintaining a comprehensive control Matrix and have implemented a new governance risk and
改善方面，我們正在維持一套全面的控制矩陣，並已導入新的治理、風險和合規（GRC）軟體，以追蹤變更和測試情況。
56:34
🎙️
compliance GRC software to track changes and testing excellent are there any new
測試狀況良好。是否有任何新的會計準則即將出台，我們應該開始準備？
56:40
🎙️
accounting standards on the horizon we should be preparing for yes there are upcoming changes to
是的，金融工具會計方面將有變更，我們需要從明年開始準備。
56:47
🎙️
financial instrument accounting that will need to start preparing for next year good to know how are we ensuring
很好知曉。我們如何確保財務報表揭露的準確性？
56:54
🎙️
the accuracy of our financial statement disclosures we've implemented a disclosure checklist and are conducting
我們已實施揭露清單，並針對所有重大揭露進行同儕審查。
57:01
🎙️
a peer review process for all significant disclosures that's thorough what about
這很周全。我們的分部報告呢？有任何變動嗎？
57:07
🎙️
our segment reporting any changes there with our recent expansion we're reassessing our reportable segments we
隨著我們最近的擴張，我們正在重新評估我們的可報告分部。
57:14
🎙️
may need to add a new Geographic segment understood how are we handling the valuation of intangible assets from
我們可能需要新增一個地理分部。了解了。
57:22
🎙️
our recent acquisition we've engaged a third party valuation specialist to ensure we have a
我們如何處理最近併購中無形資產的估值？
57:28
🎙️
robust and defensible valuation good decision are there any areas where we might need to make
我們已聘請第三方估值專家，以確保我們擁有穩健且可辯護的估值。
57:34
🎙️
significant judgments or estimates the main areas are the impairment testing of Goodwill and the
這是明智的決定。是否有任何領域我們可能需要做出重大判斷或估計？
57:41
🎙️
valuation of our pension obligations those can be complex are we confident in our
主要領域是商譽減損測試和養老金負債的估值。
57:48
🎙️
methodologies yes but I suggest we have our assumptions reviewed by external experts to ensure they're reasonable and
這些可能很複雜。我們對我們的評估方法有信心嗎？
57:55
🎙️
supportable excellent idea let's schedule a meeting with the audit committee to review our
有，但我建議我們請外部專家審查我們的假設，以確保其合理且有依據。
58:01
🎙️
audit preparation progress I'll prepare a comprehensive pre- audit report and arrange the
絕佳的主意。我們安排與審計委員會的會議，以審查我們的審計準備進度。
58:07
🎙️
meeting for next week
我會準備一份全面的審計前報告，並安排下週的會議。
