abetap N002 Bird Feeder Camera User Guide
- July 25, 2024
- abetap
Table of Contents
N002 Bird Feeder Camera
“`html
Specifications:
- Product Name: %LUG)HHGHU&DPHUD
- Model: :DUQLQJ
- Features: VDXWKRULWWRRSHUDWHWKHHTXLSPHQW,
&&DXWLRQ
Product Usage Instructions:
Installation:
To install the %LUG)HHGHU&DPHUD, follow these steps:
-
Step 1: Unpack the product and identify all components.
-
Step 2: Connect the necessary cables according to the provided
diagram. -
Step 3: Securely mount the product in the desired
location.
Operation:
To operate the %LUG)HHGHU&DPHUD:
-
Step 1: Power on the device using the designated button.
-
Step 2: Use the control panel to adjust settings as
needed. -
Step 3: Refer to the user manual for specific functions and
troubleshooting tips.
Maintenance:
Regular maintenance of the %LUG)HHGHU&DPHUD is essential for
optimal performance:
- Step 1: Clean the exterior with a soft, dry cloth.
- Step 2: Check for any loose connections or signs of wear.
- Step 3: Keep the product away from moisture and extreme
temperatures.
Frequently Asked Questions (FAQ):
Q: How do I troubleshoot if the device does not power on?
A: Check the power source and connections to ensure everything
is properly set up. If the issue persists, contact customer
support.
Q: Can I use the product in outdoor environments?
A: The %LUG)HHGHU&DPHUD is designed for indoor use only.
Avoid exposing it to outdoor elements to prevent damage.
“`
(1 ‘( )5 (6 ,7
%LUG)HHGHU&DPHUD
:DUQLQJ
127(7KLVHTXLSPHQWKDVEHHQWHVWHGDQGIRXQGWRFRPSOZLWKWKHOLPLWVIRUD&ODVV%
GLJLWDOGHYLFHSXUVXDQWWRSDUWRIWKH)&&5XOHV7KHVHOLPLWVDUHGHVLJQHGWRSURYLGH
UHDVRQDEOHSURWHFWLRQDJDLQVWKDUPIXOLQWHUIHUHQFHLQDUHVLGHQWLDOLQVWDOODWLRQ7KLV
HTXLSPHQWJHQHUDWHVXVHVDQGFDQUDGLDWHUDGLRIUHTXHQFHQHUJDQGLIQRWLQVWDOOHGDQG
XVHGLQDFFRUGDQFHZLWKWKHLQVWUXFWLRQVPDFDXVHKDUPIXOLQWHUIHUHQFHWRUDGLR
FRPPXQLFDWLRQV+RZHYHUWKHUHLVQRJXDUDQWHHWKDWLQWHUIHUHQFHZLOOQRWRFFXULQD
SDUWLFXODULQVWDOODWLRQ,IWKLVHTXLSPHQWGRHVFDXVHKDUPIXOLQWHUIHUHQFHWRUDGLRRU
WHOHYLVLRQUHFHSWLRQZKLFKFDQEHGHWHUPLQHGEWXUQLQJWKHHTXLSPHQWRDQGRQWKH
XVHULVHQFRXUDJHGWRWUWRFRUUHFWWKHLQWHUIHUHQFHERQHRUPRUHRIWKHIROORZLQJ PHDVXUHV
5HRULHQWRUUHORFDWHWKHUHFHLYLQJDQWHQQD
,QFUHDVHWKHVHSDUDWLRQEHWZHHQWKHHTXLSPHQWDQGUHFHLYHU
&RQQHFWWKHHTXLSPHQWLQWRDQRXWOHWRQDFLUFXLWGLHUHQWIURPWKDWWRZKLFKWKHUHFHLYHU
LVFRQQHFWHG &RQVXOWWKHGHDOHURUDQH[SHULHQFHGUDGLR79WHFKQLFLDQIRUKHOS
7KHDQWHQQDVXVHGIRUWKLVWUDQVPLWWHUPXVWEHLQVWDOOHGWRSURYLGHDVHSDUDWLRQGLVWDQFHRI
DWOHDVWFPIURPDOOSHUVRQVDQGPXVWQRWEHFRORFDWHGIRURSHUDWLQJLQFRQMXQFWLRQZLWK
DQRWKHUDQWHQQDRUWUDQVPLWWHU
)&&86$SURKLELWLRQDJDLQVWHDYHVGURSSLQJH[FHSWIRUWKHRSHUDWLRQVRIODZHQIRUFHP
HQWRFHUVFRQGXFWHGXQGHUODZIXODXWKRULWQRSHUVRQVKDOOXVHHLWKHUGLUHFWORULQGLUHFWO
DGHYLFHRSHUDWHGSXUVXDQWWRWKHSURYLVLRQRIWKLVSDUWIRUWKHSXUSRVHRIRYHUKHDULQJRU
UHFRUGLQJWKHSULYDWHFRQYHUVDWLRQVRIRWKHUXQOHVVVXFKXVHLVDXWKRUL]HGEDOORIWKH
SDUWLHVHQJDJLQJLQWKHFRQYHUVDWLRQ
&KDQJHVRUPRGLFDWLRQVQRWH[SUHVVODSSURYHGEWKHSDUWUHVSRQVLEOHIRUFRPSOLDQFH
FRXOGYRLGWKHXVHU
VDXWKRULWWRRSHUDWHWKHHTXLSPHQW ,&&DXWLRQ
(QJOLVK7KLVGHYLFHFRQWDLQVOLFHQFHH[HPSWWUDQVPLWWHUVUHFHLYHUVWKDWFRPSOZLWK
,QQRYDWLRQ6FLHQFHDQG
(FRQRPLF’HYHORSPHQW&DQDGD
VOLFHQFHH[HPSW566V2SHUDWLRQLVVXEMHFWWRWKH IROORZLQJWZRFRQGLWLRQV
7KLVGHYLFHPDQRWFDXVHLQWHUIHUHQFH
7KLVGHYLFHPXVWDFFHSWDQLQWHUIHUHQFHLQFOXGLQJLQWHUIHUHQFHWKDWPDFDXVHXQGHVLUHG
RSHUDWLRQRIWKHGHYLFH )UHQFK /
¬PHWWHXUU¬FHSWHXUH[HPSWGHOLFHQFHFRQWHQXGDQVOHSU¬VHQWDSSDUHLOHVWFRQIRUPH
DX[&15G
,QQRYDWLRQ6FLHQFHVHW’¬YHORSSHPHQW¬FRQRPLTXH&DQDGDDSSOLFDEOHVDX[
DSSDUHLOVUDGLRH[HPSWVGHOLFHQFH/
H[SORLWDWLRQHVWDXWRULV¬HDX[GHX[FRQGLWLRQV VXLYDQWHV/
DSSDUHLOQHGRLWSDVSURGXLUHGHEURXLOODJH/
DSSDUHLOGRLWDFFHSWHUWRXW
EURXLOODJHUDGLR¬OHFWULTXHVXELPPHVLOHEURXLOODJHHVWVXVFHSWLEOHG
HQFRPSURPHWWUH OHIRQFWLRQQHPHQW
3RXUPDLQWHQLUODFRQIRUPLW¬DYHFOHVGLUHFWLYHVG
H[SRVLWLRQ5)GHOD)&&FHW¬TXLSHPHQW
GRLWWUHQVWDOO¬HWXWLOLV¬DYHFXQHGLVWDQFHPLQLPDOHGHFPHQWUHOHUDGLDWHXUHWYRWUH
FRUSVXWLOLVH]XQLTXHPHQWO
DQWHQQHIRXUQLH
&(5(‘7KLVSURGXFWFDQEHXVHGDFURVV(8PHPEHUVWDWHV
&(5(”DV3URGXNWNDQQLQDOOHQ(80LWJOLHGVWDDWHQYHUZHQGHWZHUGHQ
&(5(‘&HSURGXLWSHXWWUHXWLOLV¬GDQVWRXVOHVWDWVPHPEUHVGHO
8(
&(5(‘(VWHSURGXFWRVHSXHGHXWLOL]DUHQWRGRVORVHVWDGRVPLHPEURVGHOD8(
&(5(‘4XHVWRSURGRWWRSXµHVVHUHXWLOL]]DWRLQWXWWLJOLVWDWLPHPEULGHOO
8(
&DWDORJ
:KDW
V,Q7KH%R[ &DPHUD6WUXFWXUH ,QVHUW0LFUR6’&DUG $VVHPEOH%LUG)HHGHU&DP
%DWWHU&KDUJLQJ +RZ7R7XUQ2Q 27KH&DPHUD 5HDG%HIRUH,QVWDOODWLRQ
6HW8S:LWK9LFR+RPH$SS ,QVWDOODWLRQ &OHDQLQJ%LUG)HHGHU&DP +RZWR$GG%LUG6HHG
6WDWXV/LJKW $O%LUG5HFRJQLWLRQ
:DVLVWLQGHU%R[ .DPHUDVWUXNWXU 0LFUR6’.DUWHHLQOHJHQ %LUG)HHGHU&DP]XVDPPHQEDXHQ
$XDGHQGHV$NNXV 6RVFKDOWHQ6LHGLH.DPHUDHLQXQGDXV 9RUGHU,QVWDOODWLRQOHVHQ
0LWGHU9LFR+RPH$SSHLQULFKWHQ ,QVWDOODWLRQ %LUG)HHGHU&DPUHLQLJHQ
:LHPDQ9RJHOIXWWHUKLQ]XI¿JW 6WDWXVOHXFKWH .,9RJHOHUNHQQXQJ
3 3 3 3 3 3 3 3 3 3 3 3 3
3 3 3 3 3 3 3 3 3 3 3 3 3
4X
DWLOGDQVODERLWH 6WUXFWXUHGHODFDP¬UD ,QV¬UH]ODFDUWH0LFUR6′
$VVHPEOHU%LUG)HHGHU&DP &KDUJHGHODEDWWHULH &RPPHQWDOOXPHU +RUVGHODFDP¬UD
OLUHDYDQWO
LQVWDOODWLRQ &RQJXUHUDYHFO
DSSOLFDWLRQ9LFR+RPH ,QVWDOODWLRQ 1HWWRDJHGHODPDQJHRLUH%LUG
&RPPHQWDMRXWHUGHVJUDLQHVSRXURLVHDX[ 9RDQWG
¬WDW 5HFRQQDLVVDQFHGHVRLVHDX[SDU,$
4X¬KDHQODFDMD (VWUXFWXUDGHODF¤PDUD ,QVHUWHODWDUMHWD0LFUR6′
0RQWDMHGHO%LUG)HHGHU&DP &DUJDGHODEDWHULD &¶PRHQFHQGHUDSDJDUODF¤PDUD
/HHUDQWHVGHODLQVWDODFL¶Q &RQJXUDUFRQODDSOLFDFL¶Q9LFR+RPH ,QVWDODFL¶Q
/LPSLH]DGHOFRPHGHUR%LUG &¶PRDJUHJDUVHPLOODVSDUDS¤MDURV /X]GHHVWDGR
5HFRQRFLPLHQWRGHDYHVSRU,$
3 3 3 3 3 3 3 3 3 3 3 3 3
3 3 3 3 3 3 3 3 3 3 3 3 3
&RVDF
«QHOODVFDWROD 6WUXWWXUDGHOODIRWRFDPHUD ,QVHULUHODVFKHGD0LFUR6′
$VVHPEOD%LUG)HHGHU&DP 5LFDULFDGHOODEDWWHULD &RPHDFFHQGHUHHVSHJQHUHODIRWRFDPHUD
/HJJHUHSULPDGHOO
LQVWDOOD]LRQH &RQJXUD]LRQHFRQO
DSS9LFR+RPH ,QVWDOOD]LRQH 3XOL]LDGHOO
DOLPHQWDWRUH%LUG &RPHDJJLXQJHUHVHPLSHUXFFHOOL 6SLDGLVWDWR 5LFRQRVFLPHQWRGHOO
XFFHOOR$O
3 3 3 3 3 3 3 3 3 3 3 3 3
:KDW
V,Q7KH%R[
%ODFN6WUDS 6FKZDU]HU5LHPHQ %UDFHOHWQRLU &RUUHDQHJUD &LQWXULQRQHUR
5RRI ‘DFK 7RLW 7HFKR 7HWWR
0RXQWLQJ6FUHZV %HIHVWLJXQJVVFKUDXEHQ 9LVGHPRQWDJH 7RUQLOORVGHPRQWDMH 9LWLGLPRQWDJJLR
$QFKRUV $QFUHV $QFODV $QFRUH
3HUFK6FUHZ 6WDQJHQVFKUDXEH 9LVGHSHUFKH 7RUQLOORGHSHUFKD 7RUQLOORGHSHUFKD
3HUFK %DUVFK 3HUFKH 3HUFD 3HUWLFD
%LUG)HHGHU&DP )RWRFDPHUD)HHGHU &DP¬UDGDOLPHQWDWLRQ &¤PDUDGHDOLPHQWDFL¶Q *LEGLH]LHONDPHUD
+RVH&OLS 6FKODXFKVFKHOOH &ROOLHUGHVHUUDJH $EUD]DGHUD )HUPDJOLRSHUWXER
(MHFWRU3LQ $XVZHUIHUVWLIW %URFKHG
¬MHFWHXU 3HUQRH[SXOVRU 3HUQRGLHVSXOVLRQH
4XLFNXLGH .XU]DQOHLWXQJ XLGHUDSLGH X°DU¤SLGD XLGDYHORFH
7SH&3RZHU&DEOH 1HW]NDEHO7S& &¥EOHG
DOLPHQWDWLRQGHWSH& &DEOHGHDOLPHQWDFL¶QWLSR& &DYRGLDOLPHQWD]LRQHGLWLSR&
0RXQWLQJ%UDFNHW 0RQWDJHKDOWHUXQJ 6XSSRUWGHPRQWDJH 6RSRUWHGHPRQWDMH 6WDDGLVVDJJLR
&DPHUD6WUXFWXUH
%LUG6HHG5HVHUYRLU 9RJHOIXWWHU5HVHUYRLU 5¬VHUYRLUGHJUDLQHVSRXURLVHDX[
‘HS¶VLWRGHVHPLOODVGHDYHV 6HUEDWRLRGLVHPLGLXFFHOOL
3,5,QIUDUHG 3DVVLYHV,QIUDURW ,QIUDURXJHSDVVLI ,QIUDUURMRVSDVLYRV
,QIUDURVVLSDVVLYL
0LFURSKRQH 0LNURIRQ
0LFURSKRQH 0LFU¶IRQR 0LFURIRQR
6WDWXV/LJKW 6WDWXVOLFKW
9RDQWG
¬WDW /X]GH(VWDGR
/XFHGLVWDWR
3HUFK %DUVFK 3HUFKH
3HUFD 3HUWLFD
/HQV /LQVH /HQWLOOH /HQWH /HQWH
/(‘,QIUDUHG /(‘,QIUDURW /(‘,QIUDURXJH ,QIUDUURMRV/(‘ /(‘,QIUDURVVL
6SRW/LJKW 6SRW/LFKW 3URMHFWHXU
‘HVWDFDU 5LHWWRUH
3RZHU%XWWRQ 1HW]VFKDOWHU %RXWRQPDUFKH %RW¶QGHHQFHQGLGR 3XOVDQWHGLDFFHQVLRQH
5HVHW%XWWRQ /RFK]XU¿FNVHW]HQ 5¬LQLWLDOLVHUOHWURX 5HVWDEOHFHUDJXMHUR 5LSULVWLQDIRUR
0LFUR6’&DUG6ORW 0LFUR6’.DUWHQVWHFNSODW] (PSODFHPHQWSRXUFDUWHPLFUR6′ 5DQXUDSDUDWDUMHWDPLFUR6′ 6ORWSHUVFKHGDPLFUR6′
$QWHQQD $QWHQQH $QWHQQH
$QWHQD $QWHQQD
6SHDNHU /DXWVSUHFKHU
2UDWHXU 2UDGRU $OWRSDUODQWH
&DPHUD’LUHFWLRQ $GMXVWHU
(LQVWHOOXQJGHU .DPHUDULFKWXQJ
$MXVWHXUGH GLUHFWLRQGHFDP¬UD
$MXVWDGRUGH GLUHFFL¶QGHODF¤PDUD
5HJROD]LRQHGHOOD GLUH]LRQHGHOODWHOHFDPHUD
,QVHUW0LFUR6’&DUG
%LUG&DPFRPHVZLWKDEXLOWLQFDUGVORWZKLFKVXSSRUWVXSWR*%0LFUR 6’FDUG 6WHS5RWDWHWKHFDPHUDGRZQWRWKHERWWRP 6WHS2SHQWKHWRSVLOLFRQHSOXJ,QVHUWWKH0LFUR6’FDUG0DNHVXUHWRSOXJ LWLQWKHULJKWGLUHFWLRQ 6WHS)LQDOO&RYHUVLOLFRQHSOXJ
‘LH%LUG&DPYHUI¿JW¿EHUHLQHQLQWHJULHUWHQ.DUWHQVWHFNSODW]GHUELV]X
%0LFUR6′.DUWHXQWHUVW¿W]W 6FKULWW’UHKHQ6LHGLH.DPHUDQDFKXQWHQ
6FKULWWQHQ6LHGHQREHUHQ6LOLNRQVWRSIHQ/HJHQ6LHGLH0LFUR6’.DUWH
HLQ$FKWHQ6LHGDUDXIHVLQGLHULFKWLJH5LFKWXQJ]XVWHFNHQ
6FKULWW6FKOLH¢OLFK6LOLNRQVWRSIHQDEGHFNHQ
%LUG&DPHVWOLYU¬DYHFXQHPSODFHPHQWSRXUFDUWHLQW¬JU¬TXLSUHQGHQ FKDUJHMXVTX
£RGHFDUWH0LFUR6′ WDSH)DLWHVSLYRWHUODFDP¬UDYHUVOHEDV
WDSH2XYUH]OHERXFKRQVXS¬ULHXUHQVLOLFRQH,QV¬UH]ODFDUWH0LFUR6′
$VVXUH]YRXVGHOHEUDQFKHUGDQVOHERQVHQV WDSH(QQFRXYUH]OHERXFKRQHQVLOLFRQH
%LUG&DPYLHQHFRQXQDUDQXUDSDUDWDUMHWDLQFRUSRUDGDTXHDGPLWHWDUMHWDV
0LFUR6’GHKDVWD% 3DVRLUHODF¤PDUDKDFLDDEDMR
3DVR$EUHHOWDS¶QGHVLOLFRQDVXSHULRU,QVHUWHODWDUMHWD0LFUR6′
$VHJ½UHVHGHHQFKXIDUORHQODGLUHFFL¶QFRUUHFWD
3DVR)LQDOPHQWHFXEUDHOWDS¶QGHVLOLFRQD
%LUG&DP«GRWDWRGLXQRVORWSHUVFKHGHLQWHJUDWRFKHVXSSRUWDVFKHGH 0LFUR6’QRD*%
3DVVR5XRWDODIRWRFDPHUDYHUVRLOEDVVR
3DVVR$SULUHLOWDSSRLQVLOLFRQHVXSHULRUH,QVHULVFLODVFKHGD0LFUR6′
$VVLFXUDWLGLFROOHJDUORQHOODJLXVWDGLUH]LRQH 3DVVR,QQHFRSULUHLOWDSSRLQVLOLFRQH
$VVHPEOH%LUG)HHGHU&DP
$VVHPEOH3HUFK 8VHWKHSURYLGHGSHUFKVFUHZWRLQVWDOOWKHSHUFK %DUVFK]XVDPPHQEDXHQ
9HUZHQGHQ6LHGLHPLWJHOLHIHUWH6WDQJHQVFKUDXEHXPGLH6WDQJH]XLQVWDOOLHUHQ
$VVHPEOHUOHSHUFKRLU 8WLOLVH]ODYLVGHSHUFKHIRXUQLHSRXULQVWDOOHUODSHUFKH
0RQWDUSHUFKD 8WLOLFHHOWRUQLOORGHSHUFKDSURYLVWRSDUDLQVWDODUODSHUFKD
$VVHPEODLOSHVFHSHUVLFR
8WLOL]]DUHODYLWHSHUSHUVLFRLQGRWD]LRQHSHULQVWDOODUHLOSHUVLFR
%DWWHU&KDUJLQJ
7KHEDWWHULHVLQVLGHWKHFDPHUDDUHQRWIXOOFKDUJHGDFFRUGLQJWRWKHWUDQVSRUWDWLRQ
VDIHWUHJXODWLRQV3OHDVHIXOOFKDUJHWKHFDPHUDEHIRUHXVLQJLW3OHDVHFKDUJHWKH
EDWWHULHVZLWKSURYLGHG7SH&3RUW&DEOH’&9$DGDSWHUQRWLQFOXGHGG7KH
VWDWXVOLJKWZLOOEHLQVROLGHOORZZKHQFKDUJLQJDQGZLOOWXUQWRVROLGJUHHQZKHQLW
LVIXOOFKDUJHG,WWDNHVDERXWKRXUVWRIXOOFKDUJHRXUFDPHUD
‘LH$NNXVLQGHU.DPHUDVLQGJHP§¢GHQ7UDQVSRUWVLFKHUKHLWVEHVWLPPXQJHQQLFKW
YROOVW§QGLJJHODGHQ%LWWHODGHQ6LHGLH.DPHUDYROOVW§QGLJDXIEHYRU6LHVLHYHUZHQGHQ
%LWWHODGHQ6LHGLH$NNXVPLWGHPPLWJHOLHIHUWHQ7S&$QVFKOXVVNDEHO’&9
$$GDSWHUQLFKWLP/LHIHUXPIDQJHQWKDOWHQ
‘LH6WDWXVOHXFKWHOHXFKWHWZ§KUHQGGHV/DGHYRUJDQJVGXUFKJHKHQGJHOEXQGOHXFKWHW
GXUFKJHKHQGJU¿QZHQQVLHYROOVW§QGLJDXIJHODGHQLVW(VGDXHUWXQJHI§KU6WXQGHQ
XP,KUH.DPHUDYROOVW§QGLJDXI]XODGHQ
/HVEDWWHULHV£O
LQW¬ULHXUGHO
DSSDUHLOSKRWRQHVRQWSDVFRPSO«WHPHQWFKDUJ¬HV
FRQIRUP¬PHQWDX[U«JOHVGHV¬FXULW¬UHODWLYHVDXWUDQVSRUW9HXLOOH]FKDUJHUFRPSO«WH
PHQWO
DSSDUHLOSKRWRDYDQWGHO
XWLOLVHU9HXLOOH]FKDUJHUOHVEDWWHULHVDYHFOHF¥EOH
GHSRUWGHWSH&IRXUQLDGDSWDWHXU’&9$QRQLQFOXV /HYRDQWG
¬WDWVHUDHQMDXQH[HORUVGHODFKDUJHHWGHYLHQGUDYHUW[HORUVTX
LOVHUD
FRPSO«WHPHQWFKDUJ¬,OIDXWHQYLURQKHXUHVSRXUFKDUJHUFRPSO«WHPHQWYRWUHDSSDUHLO
SKRWR
/DVEDWHU°DVGHOLQWHULRUGHODF¤PDUDQRHVW¤QFRPSOHWDPHQWHFDUJDGDVGHDFXHUGR
FRQODVQRUPDVGHVHJXULGDGSDUDHOWUDQVSRUWH&DUJXHFRPSOHWDPHQWHODF¤PDUDDQWHV
GHXVDUOD&DUJXHODVEDWHU°DVFRQHOFDEOHGHSXHUWRWLSR&SURSRUFLRQDGRDGDSWDGRU
‘&9$QRLQFOXLGR
/DOX]GHHVWDGRHVWDU¤HQDPDULOORMRFXDQGRVHHVW¬FDUJDQGRVHYROYHU¤YHUGHMR
FXDQGRHVW¬FRPSOHWDPHQWHFDUJDGD6HQHFHVLWDQDSUR[LPDGDPHQWHKRUDVSDUDFDUJDU
FRPSOHWDPHQWHODF¤PDUD
/HEDWWHULHDOO
LQWHUQRGHOODIRWRFDPHUDQRQVRQRFRPSOHWDPHQWHFDULFKHVHFRQGROH
QRUPHGLVLFXUH]]DSHULOWUDVSRUWR6LSUHJDGLFDULFDUHFRPSOHWDPHQWHODIRWRFDPHUD
SULPDGLXWLOL]]DUOD6LSUHJDGLFDULFDUHOHEDWWHULHFRQLOFDYRGHOODSRUWDGLWLSR&IRUQLWR
DGDWWDWRUH’&9$QRQLQFOXVR
/DVSLDGLVWDWRVDU£GLFRORUHJLDOORVVRGXUDQWHODULFDULFDHGLYHQWHU£YHUGHVVR
TXDQGRVDU£FRPSOHWDPHQWHFDULFD6RQRQHFHVVDULHFLUFDRUHSHUFDULFDUHFRPSOHWD
PHQWHODIRWRFDPHUD
+RZ7R7XUQ2Q 27KH&DPHUD
7RWXUQRQWKHFDPHUD /RQJSUHVVWKHSRZHUEXWWRQIRUVWRWXUQRQWKHFDPHUD7KHQWKH6WDWXV
/LJKWLQWKHIURQWRIWKHFDPHUDZLOOEHVROLGEOXH’RXEOHFOLFNWKHSRZHU
EXWWRQWRHQWHU:L)LPRGHDIWHUWKHSURPSWWRQH
3RZHU%XWWRQ
6WDWXV/LJKW
7RWXUQRWKHFDPHUD /RQJSUHVVWKHSRZHUEXWWRQIRUVWRWXUQRWKHFDPHUD7KHQWKH6WDWXV
/LJKWLQWKHIURQWRIWKHFDPHUDZLOOEHR
6RVFKDOWHQ6LHGLH.DPHUDHLQXQGDXV
6RVFKDOWHQ6LHGLH.DPHUDHLQ
+DOWHQ6LHGHQ1HW]VFKDOWHU6HNXQGHQODQJJHGU¿FNWXPGLH.DPHUDHLQ]XVFKDOWHQ
‘DQQOHXFKWHWGLH6WDWXVOHXFKWHDQGHU9RUGHUVHLWHGHU.DPHUDGXUFKJHKHQGEODX
‘RSSHONOLFNHQ6LHDXIGHQ1HW]VFKDOWHUXPQDFKGHP$XRUGHUXQJVWRQLQGHQ
:/$10RGXV]XZHFKVHOQ
1HW]VFKDOWHU
6WDWXVOLFKW
6RVFKDOWHQ6LHGLH.DPHUDDXV
+DOWHQ6LHGHQ1HW]VFKDOWHU6HNXQGHQODQJJHGU¿FNWXPGLH.DPHUDDXV]XVFKDOWHQ
‘DQQHUOLVFKWGLH6WDWXVOHXFKWHDQGHU9RUGHUVHLWHGHU.DPHUD
&RPPHQWDOOXPHU +RUVGHODFDP¬UD
3RXUDOOXPHUODFDP¬UD $SSXH]ORQJXHPHQWVXUOHERXWRQG
DOLPHQWDWLRQSHQGDQWVHFRQGHV SRXUDOOXPHUO
DSSDUHLOSKRWR(QVXLWHOHYRDQWG
¬WDW£O
DYDQWGHOD FDP¬UDVHUDEOHX[H’RXEOHFOLTXH]VXUOHERXWRQG
DOLPHQWDWLRQSRXU HQWUHUHQPRGH:L)LDSU«VODWRQDOLW¬G
LQYLWH
%RXWRQPDUFKH
9RDQWG
¬WDW
3RXU¬WHLQGUHODFDP¬UD $SSXH]ORQJXHPHQWVXUOHERXWRQG
DOLPHQWDWLRQSHQGDQWVHFRQGHVSRXU ¬WHLQGUHO
DSSDUHLOSKRWR(QVXLWHOHYRDQWG
¬WDW£O
DYDQWGHODFDP¬UDVHUD¬WHLQW
&¶PRHQFHQGHUDSDJDUODF¤PDUD
3DUDHQFHQGHUODF¤PDUD0DQWHQJDSUHVLRQDGRHOERW¶QGHHQFHQGLGRGXUDQWH
VHJXQGRVSDUDHQFHQGHUODF¤PDUD(QWRQFHVODOX]GHHVWDGRHQODSDUWHIURQWDO
GHODF¤PDUDVHU¤GHFRORUD]XOMR+DJDGREOHFOLFHQHOERW¶QGHHQFHQGLGRSDUD
LQJUHVDUDOPRGR:L)LGHVSX¬VGHOWRQRGHDYLVR
%RW¶QGH HQFHQGLGR
/X]GH(VWDGR
3DUDDSDJDUODF¤PDUD
0DQWHQJDSUHVLRQDGRHOERW¶QGHHQFHQGLGRGXUDQWHVHJXQGRVSDUDDSDJDU
ODF¤PDUD(QWRQFHVODOX]GHHVWDGRHQODSDUWHIURQWDOGHODF¤PDUDVHDSDJDU¤
&RPHDFFHQGHUHHVSHJQHUHODIRWRFDPHUD
3HUDFFHQGHUHODIRWRFDPHUD
3UHPHUHDOXQJRLOSXOVDQWHGLDFFHQVLRQHSHUVHFRQGLSHUDFFHQGHUHODIRWRFDPHUD
4XLQGLODVSLDGLVWDWRQHOODSDUWHDQWHULRUHGHOODIRWRFDPHUDVDU£
EOXVVR)DUHGRSSLRFOLFVXOSXOVDQWHGLDFFHQVLRQHSHUDFFHGHUHDOODPRGDOLW£
:L)LGRSRLOVHJQDOHDFXVWLFR
3XOVDQWHGL DFFHQVLRQH
/XFHGLVWDWR
3HUVSHJQHUHODIRWRFDPHUD
3UHPHUHDOXQJRLOSXOVDQWHGLDFFHQVLRQHSHUVHFRQGLSHUVSHJQHUHOD
IRWRFDPHUD4XLQGLODVSLDGLVWDWRQHOODSDUWHDQWHULRUHGHOODIRWRFDPHUDVDU£ VSHQWD
5HDG%HIRUH,QVWDOODWLRQ
.HHS%LUG)HHGHU&DPDQGDOODFFHVVRULHVRXWRIUHDFKRIFKLOGUHQDQGSHWVG
0DNHVXUHWKHFDPHUDKDVEHHQIXOOFKDUJHG’&9$ :RUNLQJWHPSHUDWXUHs&WRs&s)WRs)
:RUNLQJUHODWLYHKXPLGLW 3OHDVHGRQRWH[SRVHWKHFDPHUDOHQVWRGLUHFWVXQOLJKW
7KHFDPHUDKDVDQ,3ZDWHUSURRIUDWLQJZKLFKVXSSRUWVZRUNLQJSURSHUOXQGHU
UDLQVRUVQRZV%XWLWFDQQRWEHVRDNHGLQZDWHU
1RWH %LUG)HHGHU&DPRQOZRUNVZLWK+]:L)L 6WURQJOLJKWVPDLQWHUIHUHZLWKWKHGHYLFH
VDELOLWWRVFDQ45FRGH
$YRLGSODFLQJWKHGHYLFHEHKLQGIXUQLWXUHRUQHDUPLFURZDYHVSURGXFWV7UWRNHHSLW
ZLWKLQUDQJHRIRXU:L)LVLJQDO
%HZDKUHQ6LH%LUG)HHGHU&DPXQGDOOH=XEHK¹UWHLOHDX¢HUKDOEGHU5HLFKZHLWHYRQ
.LQGHUQXQG+DXVWLHUHQDXI
6WHOOHQ6LHVLFKHUGDVVGLH.DPHUDYROOVW§QGLJDXIJHODGHQLVW’&9$
$UEHLWVWHPSHUDWXUsELVss)ELVs) $UEHLWVUHODWLYH/XIWIHXFKWLJNHLW
%LWWHVHW]HQ6LHGDV.DPHUDREMHNWLYQLFKWGLUHNWHP6RQQHQOLFKWDXV
‘LH.DPHUDLVWZDVVHUGLFKWQDFK,3ZDVGLHRUGQXQJVJHP§¢H)XQNWLRQEHL5HJHQ
RGHU6FKQHHXQWHUVW¿W]W$EHUHVNDQQQLFKWLQ:DVVHUHLQJHZHLFKWZHUGHQ
+LQZHLV %LUG)HHGHU&DPIXQNWLRQLHUWQXUPLW+]:L)L
6WDUNHV/LFKWNDQQGLH)§KLJNHLWGHVHU§WVEHHLQWU§FKWLJHQ45&RGHV]XVFDQQHQ
9HUPHLGHQ6LHHVGDVHU§WKLQWHU0¹EHOQRGHULQGHU1§KHYRQ0LNURZHOOHQSURGXNWHQ
]XSODW]LHUHQ9HUVXFKHQ6LHHVLQ5HLFKZHLWH,KUHV:L)L6LJQDOV]XKDOWHQ
DUGH]%LUG)HHGHU&DPHWWRXVOHVDFFHVVRLUHVKRUVGHSRUW¬HGHVHQIDQWVHWGHV DQLPDX[GGRPHVWLTXHV $VVXUH]YRXVTXHODFDP¬UDD¬W¬FRPSO«WHPHQWFKDUJ¬H’&9$ 7HPS¬UDWXUHGHIRQFWLRQQHPHQWs£ss)£s) +XPLGLW¬UHODWLYHGHWUDYDLO 9HXLOOH]QHSDVH[SRVHUO
REMHFWLIGHODFDP¬UD£ODOXPL«UHGLUHFWHGXVROHLO /DFDP¬UDDXQLQGLFHG
¬WDQFK¬LW¬,3FHTXLSHUPHWGHIRQFWLRQQHUFRUUHFWHPHQW
VRXVODSOXLHRXODQHLJH0DLVLOQHSHXWSDVWUHWUHPS¬GDQVO
HDX
1RWHU %LUG)HHGHU&DPQHIRQFWLRQQHTX
DYHFOH:L)L+] /HVOXPL«UHVSXLVVDQWHVSHXYHQWLQWHUI¬UHUDYHFODFDSDFLW¬GHO
DSSDUHLO£VFDQQHU OHFRGH45 YLWH]GHSODFHUO
DSSDUHLOGHUUL«UHGHVPHXEOHVRX£SUR[LPLW¬GHSURGXLWV
PLFURRQGHV(VVDH]GHOHJDUGHU£SRUW¬HGHYRWUHVLJQDO:L)L
0DQWHQJD%LUG)HHGHU&DPWRGRVORVDFFHVRULRVIXHUDGHODOFDQFHGHORVQL´RV ODVPDVFRWDV
$VHJ½UHVHGHTXHODF¤PDUDHVW¬FRPSOHWDPHQWHFDUJDGD’&9$
7HPSHUDWXUDGHWUDEDMRs&Ds&s)Ds) +XPHGDGUHODWLYDGHWUDEDMR
1RH[SRQJDODOHQWHGHODF¤PDUDDODOX]VRODUGLUHFWD
/DF¤PDUDWLHQHXQDFODVLFDFL¶QGHUHVLVWHQFLDDODJXD,3ORTXHSHUPLWHWUDEDMDU
FRUUHFWDPHQWHEDMRODOOXYLDRODQLHYH3HURQRVHSXHGHUHPRMDUHQDJXD
1RWD %LUG)HHGHU&DPVRORIXQFLRQDFRQ:L)LGH*+]
/DVOXFHVIXHUWHVSXHGHQLQWHUIHULUFRQODFDSDFLGDGGHOGLVSRVLWLYRSDUDHVFDQHDUHO
F¶GLJR45 (YLWHFRORFDUHOGLVSRVLWLYRGHWU¤VGHPXHEOHVRFHUFDGHSURGXFWRVGHPLFURRQGDV
,QWHQWHPDQWHQHUORGHQWURGHODOFDQFHGHVXVH´DO:L)L
7HQHUH%LUG)HHGHU&DPHWXWWLJOLDFFHVVRULIXRULGDOODSRUWDWDGLEDPELQLHDQLPDOL
GRPHVWLFL $VVLFXUDUVLFKHODIRWRFDPHUDVLDVWDWDFRPSOHWDPHQWHFDULFDWD’&9$
7HPSHUDWXUDGLHVHUFL]LRGDs&Ds&GDs)Ds) 8PLGLW£UHODWLYDGLODYRUR
6LSUHJDGLQRQHVSRUUHO
RELHWWLYRGHOODIRWRFDPHUDDOODOXFHVRODUHGLUHWWD
/DIRWRFDPHUDKDXQJUDGRGLLPSHUPHDELOLW£,3FKHVXSSRUWDLOIXQ]LRQDPHQWR
FRUUHWWRVRWWRSLRJJLDRQHYH0DQRQSXµHVVHUHLPPHUVRQHOO
DFTXD
1RWD %LUG)HHGHU&DPIXQ]LRQDVRORFRQ:L)LD*+]
/HOXFLIRUWLSRVVRQRLQWHUIHULUHFRQODFDSDFLW£GHOGLVSRVLWLYRGLVFDQVLRQDUHLO
FRGLFH45
(YLWDUHGLSRVL]LRQDUHLOGLVSRVLWLYRGLHWURPRELOLRYLFLQRDSURGRWWLDPLFURRQGH
&HUFDGLWHQHUORHQWURODSRUWDWDGHOVHJQDOH:L)L
6HW8S:LWK9LFR+RPH$SS
Android
Download
App Store
Download
‘RZQORDG9LFR+RPH$SSIURP$SS6WRUHRURRJOH3OD)ROORZWKHLQDSSLQVWUXFWLRQWR
FRPSOHWHWKHHQWLUHVHWXSSURFHVV
/DGHQ6LHGLH9LFR+RPH$SSDXVGHP$SS6WRUHRGHUYRQRRJOH3ODKHUXQWHU
%HIROJHQ6LHGLH$QZHLVXQJHQLQGHU$SSXPGHQJHVDPWHQ(LQULFKWXQJVYRU
JDQJDE]XVFKOLH¢HQ 7¬O¬FKDUJH]O
DSSOLFDWLRQ9LFR+RPHGHSXLVO
$SS6WRUHRXRRJOH3OD 6XLYH]OHVLQVWUXFWLRQVGHO
DSSOLFDWLRQSRXUWHUPLQHUO
HQVHPEOHGX SURFHVVXVGHFRQJXUDWLRQ
‘HVFDUJXHODDSOLFDFL¶Q9LFR+RPHGHVGH$SS6WRUHRRRJOH3OD6LJDODV
LQVWUXFFLRQHVGHODDSOLFDFL¶QSDUDFRPSOHWDUWRGRHOSURFHVRGHFRQJXUDFL¶Q 6FDULFDO
DSS9LFR+RPHGDOO
$SS6WRUHRGD*RRJOH3OD6HJXLOH LVWUX]LRQLLQDSSSHUFRPSOHWDUHO
LQWHURSURFHVVRGLFRQJXUD]LRQH
,QVWDOODWLRQ
&KHFNWKHIROORZLQJWKLQJVEHIRUHRXGULOOKROHVRQRXUZDOO
%LUG)HHGHU&DPKDVEHHQVXFFHVVIXOODGGHGWRRXU9LFR+RPH$SSDQGLVDEOHWR VWUHDPYLGHR
EHUSU¿IHQ6LHGLHIROJHQGHQ’LQJHEHYRU6LH/¹FKHULQ,KUH:DQGERKUHQ
%LUG)HHGHU&DPZXUGHHUIROJUHLFK]X,KUHU9LFR+RPH$SSKLQ]XJHI¿JWXQGNDQQ
9LGHRVVWUHDPHQ 9HULTXHORVLJXLHQWHDQWHVGHWDODGUDUDJXMHURVHQODSDUHG
%LUG)HHGHU&DP/LWH&DPVHDJUHJ¶FRQ¬[LWRDVXDSOLFDFL¶Q9LFR+RPHSXHGH WUDQVPLWLUYLGHR
9HULTXHORVLJXLHQWHDQWHVGHWDODGUDUDJXMHURVHQODSDUHG
%LUG)HHGHU&DP/LWH&DPVHDJUHJ¶FRQ¬[LWRDVXDSOLFDFL¶Q9LFR+RPHSXHGH WUDQVPLWLUYLGHR
&RQWUROODOHVHJXHQWLFRVHSULPDGLSUDWLFDUHIRULVXOPXUR
%LUG)HHGHU&DP«VWDWRDJJLXQWRFRQVXFFHVVRDOODWXDDSS9LFR+RPHHG«LQ
JUDGRGLWUDVPHWWHUHYLGHRLQVWUHDPLQJ
:DOO,QVWDOODWLRQ
:DQGPRQWDJH
,QVWDOODWLRQPXUDOH
,QVWDODFLRQHQODSDUHG
,QVWDOOD]LRQHDSDUHWH
1
2
3
6WHS 8VHWKHSURYLGHGGULOOLQJWHPSODWHWRPDUNWKHSRVLWLRQRIKROHVRQRXUZDOO
8VHGULOOELWPPWRGULOOWZRKROHV
,QVWDOOWKHDQFKRUVWR[WKHVFUHZV,QVWDOORQZRRGVNLSWKLVVWHS
,QVWDOOWKH0RXQWLQJ%UDFNHWRQRXUZDOOZLWKWKHVFUHZVSURYLGHG
6HYHUZHQGHQ6LHGLHPLWJHOLHIHUWH%RKUVFKD%RQWHPOH3RVWLRQGHUVFKHUDQWUDH
:DQG]XPDUNLHUHQ9HUZHQGHQ6LHHLQHQ%RKUHUPPXP]ZHL/RFKHU
%ULQJHQ6LHGLH’¿EHODQXPGLH6FKUDXEHQ]XEHIHVWLJHQ,QVWDOOLHUHQDXI+RW
¿EHUVSULQJHQ6LHGLHVHQ6FKULWW
GKZRQXWHUHQJOHGHZLHOQHVHOLDOXHK8OVPLUFGHQPLOJHOLHHUWHQVFKUDXEHQDQIUHLRP
WDSH 8WLOLVH]OHJDEDULWGHSHUªDJHIRXUQLSRXUPDUTXHUODSRVLWLRQGHVWURXVVXUYRWUH
PXU8WLOLVH]XQIRUHWPPSRXUSHUFHUGHX[WURXV ,QVWDOOH]OHVFKHYLOOHVSRXU[HUOHVYLV/
LQVWDOODWLRQVXUGXERLVLJQRUHFHWWH¬WDSH
,QVWDOOH]OHVXSSRUWGHPRQWDJHVXUYRWUHPXUDYHFOHVYLVIRXUQLHV
3DVR
8WLOLFHODSODQWLOODGHSHUIRUDFL¶QSURSRUFLRQDGDSDUDPDUFDUODSRVLFL¶QGHORVDJXMHURV
HQVXSDUHG8WLOLFHXQDEURFDPPSDUDSHUIRUDUGRVRULI°FLRV
,QVWDOHORVDQFODMHVSDUDMDUORVWRUQLOORV,QVWDODUHQPDGHUDRPLWLUHVWHSDVR
,QVWDOHHOVRSRUWHGHPRQWDMHHQODSDUHGFRQORVWRUQLOORVSURSRUFLRQDGRV
3DVVR
8WLOL]]DUHODGLPDGLIRUDWXUDIRUQLWDSHUFRQWUDVVHJQDUHODSRVL]LRQHGHLIRULVXOODSDUHWH
8WLOL]]DUHXQDSXQWDGDWUDSDQRPPSHUSUDWLFDUHGXHIRUL
,QVWDOODUHJOLDQFRUDJJLSHUVVDUHOHYLWL,QVWDOODVXOHJQRVDOWDTXHVWRSDVVR
,QVWDOODUHODVWDDGLPRQWDJJLRVXOODSDUWHFRQOHYLWLIRUQLWH
6WHS 6OLGHWKH%LUG)HHGHU&DPLQWRWKHEUDFNHWWKURXJKWKHVOLGHUDLO 6FKULWW 6FKLHEHQ6LHGHQ%LUG)HHGHU&DPGXUFKGLH*OHLWVFKLHQHLQGLH+DOWHUXQJ (WDSH )DLWHVJOLVVHUOH%LUG)HHGHU&DPGDQVOHVXSSRUW£WUDYHUVOHUDLOFRXOLVVDQW 3DVR ‘HVOLFHHO%LUG)HHGHU&DPHQHOVRSRUWHDWUDY¬VGHOULHOGHVOL]DQWH 3DVVR )DUVFRUUHUH%LUG)HHGHU&DPQHOODVWDDDWWUDYHUVRODJXLGDGLVFRUULPHQWR
7UHH,QVWDOODWLRQ %DXPLQVWDOODWLRQ ,QVWDOODWLRQGH,
DUEUH ,QVWDODFLRQGHODUERO ,QVWDOOD]LRQHGHO
DOEHUR
6WHS:UDSWKH0RXQWLQJ%UDFNHWDURXQGWKHWUHHZLWKWKH%ODFN6WUDS
6FKULWW:LFNHOQ6LHGLH0RQWDJHKDOWHUXQJPLWGHPVFKZDU]HQ5LHPHQXPGHQ%DXP
WDSH(QURXOH]OHVXSSRUWGHPRQWDJHDXWRXUGHO
DUEUHDYHFODVDQJOHQRLUH
3DVR(QYXHOYDHOVRSRUWHGHPRQWDMHDOUHGHGRUGHO¤UEROFRQODFRUUHDQHJUD
3DVVR$YYROJHUHODVWDDGLPRQWDJJLRDWWRUQRDOO
DOEHURFRQODFLQJKLDQHUD
6WHS6OLGHWKH%LUG)HHGHU&DPLQWRWKHPRXQWLQJEUDFNHW 6FKULWW6FKLHEHQ6LHGHQ%LUG)HHGHU&DPLQGLH+DOWHUXQJ ¬WDSH)DLWHVJOLVVHUOH%LUG)HHGHU&DPGDQVOHVXSSRUWGHPRQWDJH 3DVR’HVOLFHHO%LUG)HHGHU&DPHQHOVRSRUWHGHPRQWDMH 3DVVR)DUVFRUUHUH%LUG)HHGHU&DPQHOODVWDDGLPRQWDJJLR
6WDQG,QVWDOODWLRQ 6WDQGPRQWDJH ,QVWDOODWLRQGXVXSSRUW ,QVWDODFL¶QGHOVRSRUWH
,QVWDOOD]LRQHGHOVXSSRUWR
6WHS 7KH%LUG)HHGHU&DPFDQEHSODFHGVWHDGLORQDDWVXUIDFHEXWIRUVWDELOLWZH
UHFRPPHQGWKDWWKHEDFNSODQHLVLQVWDOOHGDQG[HGRQDDWVXUIDFH
8VHWKHSURYLGHGGULOOLQJWHPSODWHWRPDUNWKHSRVLWLRQRIKROHVRQDWVXUIDFH
8VHGULOOELWPPWRGULOOWZRKROHV
6FKULWW ‘HU%LUG)HHGHU&DPNDQQVWDELODXIHLQHUHEHQHQ)O§FKHDXIJHVWHOOWZHUGHQDEHUDXV
6WDELOLW§WVJU¿QGHQHPSIHKOHQZLUGLH5¿FNZDQGDXIHLQHUHEHQHQ)O§FKH]XLQVWDOOLHUHQ
XQG]XEHIHVWLJHQ
9HUZHQGHQ6LHGLHPLWJHOLHIHUWH%RKUVFKDEORQHXPGLH3RVLWLRQGHU/¹FKHUDXIHLQHU
HEHQHQ)O§FKH]XPDUNLHUHQ9HUZHQGHQ6LHHLQHQ%RKUHUPPXP]ZHL/¹FKHU ]XERKUHQ
WDSH /H%LUG)HHGHU&DPSHXWWUHSODF¬GHPDQL«UHVWDEOHVXUXQHVXUIDFHSODQHPDLV
SRXUSOXVGHVWDELOLW¬QRXVUHFRPPDQGRQVTXHOHIRQGGHSDQLHUVRLWLQVWDOO¬HW[¬VXU
XQHVXUIDFHSODQH8WLOLVH]OHJDEDULWGHSHUªDJHIRXUQLSRUPDUTXHUODSRVLWLRQGHVWURXV
VXUXQHVXUIDFHSODQH8WLOLVH]XQIRUHWPPSRXUSHUFHUGHX[WURXV
3DVR (O%LUG)HHGHU&DPVHSXHGHFRORFDUGHPDQHUDFRQVWDQWHVREUHXQDVXSHUFLH
SODQDSHURSDUDPDRUHVWDELOLGDGUHFRPHQGDPRVTXHODSODFDSRVWHULRUVHLQVWDOH
MHHQXQDVXSHUFLHSODQD8WLOLFHODSODQWLOODGHSHUIRUDFL¶QSURSRUFLRQDGDSDUD
PDUFDUODSRVLFL¶QGHORVDJXMHURVHQXQDVXSHUFLHSODQD8WLOLFHXQDEURFDPP
SDUDSHUIRUDUGRVRULFLRV
3DVVR ,,%LUG)HHGHU&DPSXµHVVHUHSRVL]LRQDWRVWDELOPHQWHVXXQDVXSHUFLHSLDQDPDSHU
VWDELOLW£VLFRQVLJOLDGLLQVWDOODUHHVVDUHLOEDFNSODQHVXXQDVXSHUFLHSLDQD
8WLOL]]DUHODGLPDGLIRUDWXUDIRUQLWDSHUFRQWUDVVHJQDUHODSRVL]LRQHGHLIRULVXXQD
VXSHUI°FLHSLDQD8WLOL]]DUHXQDSXQWDGDWUDSDQRPPSHUSUDWLFDUHGXHIRUL
6WHS ,QVWDOOWKHDQFKRUVWR[WKHVFUHZV,QVWDOORQZRRGVNLSWKLVVWHS
6FKULWW %ULQJHQ6LHGLH’¿EHODQXPGLH6FKUDXEHQ]XEHIHVWLJHQ,QVWDOOLHUHQDXI+RO]
¿EHUVSULQJHQ6LHGLHVHQ6FKULWW
¬WDSH ,QVWDOOH]OHVFKHYLOOHVSRXU[HUOHVYLV/
LQVWDOODWLRQVXUGXERLVLJQRUHFHWWH¬WDSH
3DVR ,QVWDOHORVDQFODMHVSDUDMDUORVWRUQLOORV,QVWDODUHQPDGHUDRPLWLUHVWHSDVR
3DVVR ,QVWDOODUHJOLDQFRUDJJLSHUVVDUHOHYLWL,QVWDOODVXOHJQRVDOWDTXHVWRSDVVR
6WHS ,QVWDOOWKH0RXQWLQJ%UDFNHWRQDWVXUIDFHZLWKWKHVFUHZVSURYLGHG
6FKULWW
,QVWDOOLHUHQ6LHGLH0RQWDJHKDOWHUXQJPLWGHQPLWJHOLHIHUWHQ6FKUDXEHQDXIHLQHU
HEHQHQ)O§FKH
WDSH ,QVWDOOH]OHVXSSRUWGHPRQWDJHVXUXQHVXUIDFHSODQHDYHFOHVYLVIRXUQLHV
3DVR ,QVWDOHHOVRSRUWHGHPRQWDMHHQXQDVXSHUFLHSODQDFRQORVWRUQLOORVSURSRUFLRQDGRV
3DVVR ,QVWDOODUHODVWDDGLPRQWDJJLRVXXQDVXSHUFLHSLDQDFRQOHYLWLIRUQLWH
6WHS6OLGHWKH%LUG)HHGHU&DPLQWRWKHPRXQWLQJEUDFNHW 6FKULWW6FKLHEHQ6LHGHQ%LUG)HHGHU&DPLQGLH+DOWHUXQJ WDSH)DLWHVJOLVVHUOH%LUG)HHGHU&DPGDQVOHVXSSRUWGHPRQWDJH 3DVR’HVOLFHHO%LUG)HHGHU&DPHQHOVRSRUWHGHPRQWDMH 3DVVR)DUVFRUUHUH%LUG)HHGHU&DPQHOODVWDDGLPRQWDJJLR
3ROH,QVWDOODWLRQ+RVHFOLS 6WDQJHQLQVWDOODWLRQ6FKODXFKVFKHOOH
,QVWDOODWLRQVXUSRWHDX& ROOLHUGHVHUUDJH,QVWDODFL¶QHQSRVWH$EUD]DGHUDSDUDPDQJXHUD
,QVWDOOD]LRQHVXSDOR)DVFHWWDSHUWXER
+RVH&OLS 6FKODXFKVFKHOOH &ROOLHUGHVHUUDJH $EUD]DGHUD )HUPDJOLRSHUWXER
6WHS$WWDFK%LUG)HHGHU&DPWRWKHSROHZLWKWKH+RVH&OLSWXUQLQJWKHKDQGOH FORFNZLVH
6FKULWW%HIHVWLJHQ6LHGHQ%LUG)HHGHU&DPPLWGHU6FKODXFKNOHPPHDQGHU
6WDQJHLQGHP6LHGHQ*ULLP8KU]HLJHUVLQQGUHKHQ
¬WDSH)L[H]%LUG)HHGHU&DPDXSRWHDXDYHFOHFOLSGHWXDXHQWRXUQDQWODSRLJQ¬H
GDQVOHVHQVGHVDLJXLOOHVG
XQHPRQWUH 3DVR)LMHHOFRPHGHUR%LUGDOSRVWHFRQHOFOLSSDUDPDQJXHUDJLUDQGRODPDQLMDHQ
HOVHQWLGRGHODVDJXMDVGHOUHORM 3DVVR)LVVDUHODPDQJLDWRLD%LUGDOO
DVWDFRQODIDVFHWWDVWULQJLWXERUXRWDQGROD PDQLJOLDLQVHQVRRUDULR
6WHS6OLGHWKH%LUG)HHGHU&DPLQWRWKHEUDFNHWWKURXJKWKHVOLGHUDLO 6FKULWW6FKLHEHQ6LHGHQ%LUG)HHGHU&DPGXUFKGLH*OHLWVFKLHQHLQGLH+DOWHUXQJ ¬WDSH)DLWHVJOLVVHUOH%LUG)HHGHU&DPGDQVOHVXSSRUW£WUDYHUVOHUDLOFRXOLVVDQW 3DVR’HVOLFHHOFRPHGHUR%LUGHQHOVRSRUWHDWUDY¬VGHOULHOGHVOL]DQWH 3DVVR)DUVFRUUHUH%LUGQHOODVWDDDWWUDYHUVRODJXLGDGLVFRUULPHQWR
6RODUSDQHO
6WHS6FUHZWKHEUDFNHWWRWKHZDOOWKHQURWDWHWKHVRODUSDQHOVRWKHQXWRQWKH
EDFNWVZLWKWKHVFUHZRQWKHEUDFNHW
6FKULWW0DQNDQQGLHUDKPHQDQGLHZDQGVFKUDXEHQXQGGLHVRQQHQNROOHNWRUHQGUHKHQ
VRGD¢GHUJHZLQGHDXIGHUU¿FNVHLWHHLQHUYLHUWHOFPHQWVSULFKW
¬WDSH9LVVH]OHVXSSRUWDXPXUSXLVIDLWHVWRXUQHUOHSDQQHDXVRODLUHDQTXHO¬FURX
VXUOHGRVVDGDSWHDYHFODYLVVXUOHVXSSRUW
3DVR$WRUQLOOHHOVRSRUWHDODSDUHGOXHJRJLUHHOSDQHOVRODUSDUDTXHODWXHUFDGH
HQODSDUWHSRVWHULRUTXHSDFRQHOWRUQLOORGHHQHOVRSRUWH
3DVVR$YYLWLODVWDDDOPXURTXLQGLUXRWDLOSDQQHOORVRODUHLQPRGRFKHLOGDGRVXO
GRUVRVLDGDWWLDOODYLWHVXOVXSSRUWR
&OHDQLQJ%LUG)HHGHU&DP
2 1
6WHS8QSOXJWKHFKDUJLQJFDEOHDQGSXWRQWKHVLOLFRQHFRYHU
6FKULWW/DGHNDEHODEVWHFNHQXQG6LOLNRQVWHFNHUDXIVWHFNHQ
WDSH’¬EUDQFKH]OHF¥EOHGHFKDUJHHWPHWWH]OHERXFKRQHQVLOLFRQH
3DVR’HVFRQHFWHHOFDEOHGHFDUJDFRO¶TXHVHHOWDS¶QGHVLOLFRQD
3DVVR6FROOHJDUHLOFDYRGLULFDULFDHLQVHULUHLOWDSSRLQVLOLFRQH
6WHS8VLQJWKH3XOO7DERQWKHEDVHRIWKHIHHGHUUHPRYHWKH%LUG)HHGHU&DP IURPWKHEUDFNHW
6FKULWW(QWIHUQHQ6LHGHQ%LUG)XWWHUVSHQGHUPLWKLOIHGHU=XJODVFKHDQGHU
8QWHUVHLWHGHV)XWWHUVSHQGHUVYRQGHU+DOWHUXQJ WDSHO
DLGHGHODODQJXHWWHVLWX¬H£ODEDVHGHODPDQJHRLUHUHWLUH]ODPDQJHRLUH %LUGGXVXSSRUW
3DVR8VDQGRODOHQJ¿HWDGHWLURHQODEDVHGHOFRPHGHURUHWLUHHOFRPHGHUR %LUGGHOVRSRUWH
3DVVR8WLOL]]DQGRODOLQJXHWWDDOODEDVHGHOO
DOLPHQWDWRUHULPXRYHUHO
DOLPHQWDWRUH %LUGGDOODVWDD
6WHS2SHQXSWKHEXFNOHRQWKHEDFNRIWKH%LUG)HHGHU&DPDQGSXOOXSRQWKH URRIWRRSHQ
6FKULWWQHQ6LHGLH6FKQDOOHDXIGHU5¿FNVHLWHGHV%LUG)HHGHU&DPXQG]LHKHQ
6LHGDV’DFKQDFKREHQXPHV]X¹QHQ (WDSH2XYUH]ODERXFOH£O
DUUL«UHGHODPDQJHRLUH%LUGHWWLUH]VXUOHWRLW SRXUO
RXYULU 3DVR$EUDODKHELOODHQODSDUWHSRVWHULRUGHO%LUG)HHGHU&DPWLUHKDFLDDUULEDGHO
WHFKRDUDDEULUOR 3DVVR$SULODEELDVXOUHWURGHOODPDQJLDWRLD%LUGHWLUDYHUVRO
DOWRLOWHWWR SHUDSULUOR
6WHS3RXUZDWHULQWRWKHWRSRIWKHVHHGUHVHUYRLU’RQRWZDVKWKHFDPHUDRUDQRILWV
FRPSRQHQWV7KHDUHZDWHUUHVLVWDQWQRWZDWHUSURRI
‘UWKHIHHGHULQFOXGLQJWKHVHHGUHVHUYRLU
6FKULWW*LH¢HQ6LH:DVVHULQGLH2EHUVHLWHGHV6HHG5HVHUYRLUV:DVFKHQ6LHGLH
.DPHUDRGHULKUH.RPSRQHQWHQQLFKW6LHVLQGZDVVHUDEZHLVHQGQLFKWZDVVHUGLFKW
7URFNQHQ6LHGHQ)HHGHUHLQVFKOLH¢OLFKGHV6DPHQEHK§OWHUV
WDSH9HUVH]GHO
HDXGDQVOHKDXWGXU¬VHUYRLUGHVHPHQFHV1HODYH]SDVO
DSSDUHLO SKRWRRXO
XQGHVHVFRPSRVDQWV,OVVRQWU¬VLVWDQWV£O
HDXSDV¬WDQFKHV 6¬FKH]ODPDQJHRLUHFRPSULVOHU¬VHUYRLUGHVHPHQFHV
3DVR9LHUWDDJXDHQODSDUWHVXSHULRUGHOGHS¶VLWRGHVHPLOODV1RODYHODF¤PDUDQL
QLQJXQRGHVXVFRPSRQHQWHV6RQUHVLVWHQWHVDODJXDQRDSUXHEDGHDJXD
6HTXHHODOLPHQWDGRULQFOXLGRHOGHS¶VLWRGHVHPLOODV
3DVVR9HUVDGHOO
DFTXDQHOODSDUWHVXSHULRUHGHOVHUEDWRLRGHLVHPL1RQODYDUHOD
IRWRFDPHUDRQHVVXQRGHLVXRLFRPSRQHQWL6RQRUHVLVWHQWLDOO
DFTXDQRQLPSHUPHDELOL $VFLXJDUHO
DOLPHQWDWRUHFRPSUHVRLOVHUEDWRLRGHOVHPH
6WHS5HDWWDFKWKH5RRI3XVKWKHURRIGRZQDQGHQJDJHWKHVQDSVRQWKHEDFN
RIWKH%LUG)HHGHU&DP
6FKULWW%ULQJHQ6LHGDV’DFKZLHGHUDQ’U¿FNHQ6LHGDV’DFKQDFKXQWHQXQG
ODVVHQ6LHGLH’UXFNNQ¹SIHDXIGHU5¿FNVHLWHGHV%LUG)HHGHU&DPHLQUDVWHQ
WDSH5DWWDFKH]OHWRLWSRXVVH]OHWRLWYHUVOHEDVHWHQJDJH]OHVERXWRQVSUHVVLRQ £O
DUUL«UHGHODPDQJHRLUH%LUG 3DVR9XHOYDDFRORFDUHOWHFKRHPSXMHHOWHFKR
KDFLDDEDMRHQJDQFKHORVEURFKHVHQODSDUWHSRVWHULRUGHOFRPHGHUR%LUG
3DVVR5LDWWDFFDUHLOWHWWRVSLQJHUHLOWHWWRYHUVRLOEDVVRHDJJDQFLDUHLERWWRQL
DXWRPDWLFLVXOUHWURGHOODPDQJLDWRLD%LUG
6WHS5HDWWDFKWKHEUDFNHWWRWKH%LUG)HHGHU&DPEDVH$GMXVWWKHDQJOHIRUERWK
WKH%LUG)HHGHU&DPDQGFDPHUD
6FKULWW%ULQJHQ6LHGLH+DOWHUXQJZLHGHUDQGHU%LUG)HHGHU&DP%DVLVDQ6WHOOHQ
6LHGHQ:LQNHOVRZRKOI¿UGHQ%LUG)HHGHU&DPDOVDXFKI¿UGLH.DPHUDHLQ
WDSH5H[H]OHVXSSRUW£ODEDVHGX%LUG)HHGHU&DP$MXVWH]O
DQJOHGX %LUG)HHGHU&DPHWGHODFDP¬UD
3DVR9XHOYDDFRORFDUHOVRSRUWHHQODEDVHGHOFRPHGHUR%LUG$MXVWHHO¤QJXOR
WDQWRSDUDHO%LUG)HHGHUFRPRSDUDODF¤PDUD
3DVVR5LDWWDFFDUHODVWDDDOODEDVHGHOODPDQJLDWRLD%LUG5HJRODO
DQJROD]LRQH VLDSHUODPDQJLDWRLD%LUGFKHSHUODIRWRFDPHUD
2 1
6WHS2SHQWKHVLOLFRQHSOXJUHSOXJLQWKH6RODU/LWH
6FKULWW6LOLNRQVWHFNHU¹QHQ6RODU/LWHZLHGHUHLQVWHFNHQ
WDSH2XYUH]OHERXFKRQHQVLOLFRQHUHEUDQFKH]OH6RODU/LWH
3DVR$EUDHOWDS¶QGHVLOLFRQDYXHOYDDHQFKXIDUHO6RODU/LWH
3DVVR$SULUHLOWDSSRLQVLOLFRQHULFROOHJDUHLO6RODU/LWH
+RZWR$GG%LUG6HHG
%XFNOH 6FKQDOOH %RXFOH +HELOOD )LEELD
6WHS2SHQXSWKHEXFNOHRQWKHEDFNRIWKH%LUG)HHGHU&DPDQGSXOOXSRQWKHURRI WRRSHQ
6FKULWWQHQ6LHGLH6FKQDOOHDXIGHU5¿FNVHLWHGHV%LUG)HHGHU&DPXQG]LHKHQ
6LHGDV’DFKQDFKREHQXPHV]X¹QHQ
WDSH2XYUH]ODERXFOH£O
DUUL«UHGHODPDQJHRLUH%LUGHWWLUH]VXUOHWRLW SRXUO
RXYULU 3DVR$EUDODKHELOODHQODSDUWHSRVWHULRUGHO%LUG)HHGHU&DPWLUHKDFLDDUULED
GHOWHFKRSDUDDEULUOR 3DVVR$SULODEELDVXOUHWURGHOODPDQJLDWRLD%LUGHWLUDYHUVRO
DOWRLOWHWWRSHUDSULUOR
6WHS<RXFDQDGGELUGVHHG)LQDOOFORVHWKHURRIEDFN 6FKULWW6LHN¹QQHQ9RJHOVDPHQKLQ]XI¿JHQ6FKOLH¢HQ6LHVFKOLH¢OLFKGDV’DFKZLHGHU WDSH9RXVSRXYH]DMRXWHUGHVJUDLQHVSRXURLVHDX[(QQUHIHUPH]OHWRLW 3DVR3XHGHVDJUHJDUDOSLVWH)LQDOPHQWHFLHUUHHOWHFKRKDFLDDWU¤V 3DVVR3XRLDJJLXQJHUHVHPLGLXFFHOOL,QQHULFKLXGHUHLOWHWWR
6WDWXV/LJKW
7KLVFDPHUDXVHVVWDWXVOLJKWWRFRPPXQLFDWH
‘LHVH.DPHUDYHUZHQGHWGLH6WDWXVDQ]HLJH]XU.RPPXQLNDWLRQ
&HWWHFDP¬UDXWLOLVHXQYRDQWG
¬WDWSRXUFRPPXQLTXHU (VWDF¤PDUDXVDODOX]GHHVWDGRSDUDFRPXQLFDUVH
4XHVWDIRWRFDPHUDXWLOL]]DODVSLDGLVWDWRSHUFRPXQLFDUH
/(‘,QGLFDWRU 6ROLG%OXH 1RQH 6ROLG<HOORZ 6ROLG*UHHQ
‘HVFULSWLRQ :RUNLQJ 6OHHS3RZHU2 &KDUJLQJ &KDUJLQJ)LQLVKHG
/(‘$Q]HLJH (LQIDUELJ%ODX .HLQHU ‘XUFKJHKHQGJHOE (LQIDUELJJU¿Q
%HVFKUHLEXQJ $UEHLWHQ 6FKODI$XVVFKDOWHQ $XDGHQ /DGHYRUJDQJDEJHVFKORVVHQ
,QGLFDWHXU/(‘ %OHXXQL 5LHQ -DXQHXQL 9HUW[H
,QGLFDGRU/(‘ $]XOVROLGR 1LQJXQR $PDULOORMR 9HUGHVROLGR
,QGLFDWRUH/(‘ %OXVVR 1HVVXQR *LDOORVVR 9HUGHVVR
/DGHVFULSWLRQ 7UDYDLO 9HLOOH0LVHKRUVWHQVLRQ 0LVHHQFKDUJH &KDUJHPHQWWHUPLQ¬
‘HVFULSFL¶Q /DERUDO ‘RUPLU$SDJDU &DUJDQGR &DUJDQDOL]DGD
‘HVFUL]LRQH /DYRUDQGR 6RVSHQVLRQH6SHJQLPHQWR ,QFDULFD 5LFDULFDWHUPLQDWD
$O%LUG5HFRJQLWLRQ
$OYHUVLRQ7KHVHUYLFHLVIUHHIRUOLIH
/LWHYHUVLRQ7KLVVHUYLFHUHTXLUHVDVXEVFULSWLRQ
$O9HUVLRQ’HU’LHQVWLVWOHEHQVODQJNRVWHQORV
/LWH9HUVLRQ’LHVHU’LHQVWHUIRUGHUWHLQ$ERQQHPHQW
9HUVLRQ$O/HVHUYLFHHVWJUDWXLW£YLH
9HUVLRQ/LWH&HVHUYLFHQ¬FHVVLWHXQDERQQHPHQW
9HUVL¶Q$O(OVHUYLFLRHVJUDWXLWRGHSRUYLGD
9HUVL¶Q/LWH(VWHVHUYLFLRUHTXLHUHXQDVXVFULSFL¶Q
9HUVLRQH$O,OVHUYL]LR«JUDWXLWRDYLWD
9HUVLRQH/LWH4XHVWRVHUYL]LRULFKLHGHXQDEERQDPHQWR
$O%LUG5HFRJQLWLRQKDVXQGHUJRQHPDVVLYHPDFKLQHOHDUQLQJDQGXVHV$OLQWHOOLJHQW
UHFRJQLWLRQDOJRULWKPVWRLQIRUPRXLQUHDOWLPHZKDWVSHFLHVRIELUGDUHFRPLQJ
DXWRPDWLFDOOVDYHWKHELUGLPDJHVYLGHRVGDWDIRURXDQGDOVRSURYLGHELUG
NQRZOHGJHOHDUQLQJDQGVRRQ
‘LH.,9RJHOHUNHQQXQJZXUGHHLQHPPDVVLYHQPDVFKLQHOOHQ/HUQHQXQWHU]RJHQ
XQGYHUZHQGHWLQWHOOLJHQWH.,(UNHQQXQJVDOJRULWKPHQXP6LHLQ(FKW]HLWGDU¿EHU
]XLQIRUPLHUHQZHOFKH9RJHODUWHQNRPPHQGLH9RJHOELOGHUYLGHRGDWHQDXWRPDWLVFK
I¿U6LH]XVSHLFKHUQXQGDXFKGDV(UOHUQHQYRQ9RJHOZLVVHQEHUHLW]XV WHOOHQXQGVRZHLWHU
/DUHFRQQDLVVDQFHGHVRLVHDX[SDU,$DVXELXQDSSUHQWLVVDJHDXWRPDWLTXHPDVVLI
HWXWLOLVHGHVDOJRULWKPHVGHUHFRQQDLVVDQFHLQWHOOLJHQWVSDU,$SRXUYRXVLQIRUPHU
HQWHPSVU¬HOTXHOOHVHVS«FHVG
RLVHDX[DUULYHQWHQUHJLVWUHUDXWRPDWLTXHPHQW OHVGRQQ¬HVG
LPDJHVYLG¬RVG
RLVHDX[SRXUYRXVHW
¬JDOHPHQWIRXUQLUXQDSSUHQWLVVDJHGHVFRQQDLVVDQFHVVXUOHVRLVHDX[HWF
(OUHFRQRFLPLHQWRGHDYHVSRU,$VHVRPHWL¶DXQDSUHQGL]DMHDXWRP¤WLFRPDVLYR
XWLOL]DDOJRULWPRVGHUHFRQRFLPLHQWRLQWHOLJHQWHSRU,$SDUDLQIRUPDUOHHQWLHPSR
UHDOTX¬HVSHFLHVGHDYHVVHDFHUFDQJXDUGDUDXWRP¤WL
FDPHQWHORVGDWRVGHLP¤JHQHVYLGHRVGHDYHVSDUDXVWHGWDPEL¬QSURSRU
FLRQDUDSUHQGL]DMHGHFRQRFLPLHQWRGHDYHVHWF
,OULFRQRVFLPHQWRGHJOLXFFHOOL$OKDVXELWRXQHQRUPHDSSUHQGLPHQWRDXWRPDWLFR
HXWLOL]]DDOJRULWPLGLULFRQRVFLPHQWRLQWHOOLJHQWH$OSHULQIRUPDUWLLQWHPSRUHDOH
TXDOLVSHFLHGLXFFHOOLVWDQQRDUULYDQGRVDOYDUHDXWRPDWLFD
PHQWHLGDWLGHOOHLPPDJLQLYLGHRGHJOLXFFHOOLSHUWHHDQFKHIRUQLUHO
DSSUHQ GLPHQWRGHOODFRQRVFHQ]DGHJOLXFFHOOLHFRV¯YLD