DeepFin-Intelligence/ICBCBench huggingface dataset:
Topic: Banking-Treasury & ALM
Question: Using the official FRED SOFR series (Secured Overnight Financing Rate), compute the **population standard deviation** (ddof = 0) of SOFR over the **five business days from 16 Dec 2024 to 20 Dec 2024 (inclusive)**.

Answer requirements:
- answer_type: number
- unit: **basis points (bp)**
- precision: **2 decimals**

Critical traps:
- Use **population** standard deviation (NOT sample).
- Use ONLY the five business-day observations (do NOT add weekends/holidays).
- Convert percentage-rate standard deviation to **bp** correctly (1% = 100 bp).

Answer: 15.56
Topic: Insurance-Insurance Investment
Question: Using only the FDIC Quarterly Banking Profile – Fourth Quarter 2024 statements and the FDIC ROA convention, compute the banking industry’s quarter-over-quarter net-income-to-asset-growth wedge between 3Q 2024 and 4Q 2024, defined as:
quarter-over-quarter net income growth rate − quarter-over-quarter implied average-total-assets growth rate
For this task, implied average total assets for each quarter must be inferred from the FDIC ROA convention using the relevant quarter’s net income and ROA.
Answer requirements:
answer_type: number
unit: basis points (bp)
precision: 2 decimals
Rules:
Use only the QBP statements that 4Q 2024 net income was USD 66.8 billion and increased by USD 1.5 billion from 3Q 2024.
Use only the QBP statements that 4Q 2024 ROA was 1.11% and increased by 2 basis points from 3Q 2024.
Infer quarter-specific implied average assets using the FDIC ROA convention.
Use quarter-over-quarter percentage growth rates for both net income and implied average assets before taking the difference.
Convert the final wedge into basis points.
Return only the numeric result.
Answer: 184.32
Topic: Banking-Risk Management
Question: You are currently the chief analyst responsible for G-SIB bank capital modeling at an institution. Based on BNP Paribas' 3Q25 performance appendices and related charts, calculate the implied total Risk-Weighted Assets (Total RWA) of BNP Paribas as of the end of the third quarter of 2025 (unit: billion euros；retain two decimal places)?
Answer: 754.71
Topic: Insurance-Actuarial & Reserving
Question: Using Swiss Re International SE SFCR disclosures for **31 December 2024**, compute the **implied eligible own funds (EUR millions)** based on:
- Solvency ratio (eligible own funds as a % of SCR)
- SCR amount (EUR millions)

You must use the following formula:
Eligible own funds (EUR m) = (Solvency ratio / 100) × SCR (EUR m)

Rounding rule:
- Report the answer in **EUR millions**, rounded to the **nearest whole number (0 decimals)**.

Answer format: number (EUR millions, 0 decimals).
Answer: 513
Topic: Banking-Treasury & ALM
Question: Global context (as of 2024-12-25, weekly H.4.1 data): You are validating a bank Treasury desk’s system-liquidity narrative using the Federal Reserve H.4.1 release.

Using ONLY the Federal Reserve H.4.1 release tables for the weeks ended 2024-09-25 and 2024-12-25, compute first-order changes (in USD billions, rounded to 0.1) and select ALL statements that are correct.

A. Reserve balances with Federal Reserve Banks increased by about USD 78.2bn from 2024-09-25 to 2024-12-25.
B. Reverse repurchase agreements decreased by about USD 278.0bn from 2024-09-25 to 2024-12-25.
C. The U.S. Treasury General Account (TGA) increased by about USD 71.7bn from 2024-09-25 to 2024-12-25.
D. The combined change in (Reverse repurchase agreements + TGA) is approximately -USD 349.8bn over the same window, implying a reduction in two major system-liquidity drains.
E. If Reserve balances rose by ~USD 78.2bn while (Reverse repos + TGA) fell by ~USD 349.8bn, then other H.4.1 factors must have offset by roughly -USD 271.6bn (i.e., absorbed liquidity), ignoring sign conventions.
F. A decline in reverse repos mechanically reduces reserve balances one-for-one, so statement B implies reserve balances must fall, not rise.

Precision requirement: report computed changes in USD billions, rounded to 0.1.
Answer: A
B
D
E
Topic: Banking-Wealth & Investment Services
Question: As a US stock market research analyst for a securities firm, one needs to select entities that meet all six core criteria from major US banks (JPM, BAC, C, GS, MS, WFC) for QFII institutional clients. The criteria are as follows: 1. CET1 ratio in 2024 ≥ 14% 2. Share of retail deposits in total deposits in 2024 ≥ 50% 3. Green credit balance as a percentage of total loans in 2024 ≥ 3% 4. Cross-border business income as a percentage of non-interest income in 2024 ≥ 15% 5. Per capita revenue of employees in 2024 ≥ 200,000 US dollars 6. FDIC deposit insurance coverage rate in 2024 ≥ 95%. Provide the full name of the bank. If there are multiple eligible banks, connect them with a comma. If no eligible banks are found, output "none". 
Answer: J.P.Morgan Chase & Co
Topic: Banking-Capital Markets Intermediation
Question: You are a Senior M&A Strategist in the Capital Markets Division of an institution. In its research report dated December 18, 2025, Barclays listed Allfunds, a fund distribution platform, as one of the core assets that BNP Paribas (BNPP) plans to divest to offset the capital consumption arising from the acquisition of Athlon. The divestment of Allfunds will make a significant marginal contribution to whether BNPP can ultimately achieve its 13% CET1 target.
Based on the forward-looking forecasts in the Barclays research report and the third-party cross-border transaction legal records released on January 22, 2026:
1. State the name of the **European stock exchange operator** that officially announced a Recommended Acquisition for Allfunds at an approximate valuation of €5.3 billion on January 21, 2026.
2. According to the operational fundamentals disclosed in the acquisition agreement, what is the **all-time high figure of Assets under Administration (AuA)** achieved by Allfunds on the eve of the acquisition (i.e., as of September 30, 2025)? (Provide the numerical value in trillion euros, rounded to one decimal place.)
Answer: Deutsche Börse;1.7
Topic: Capital Markets-Company & Equity Research
Question: You are an equity analyst at a buy-side fund reviewing Shenzhen Manst Technology Co., Ltd. (SZSE: 301325, “Manst”). Your investment committee requires that any broker valuation be normalized to (i) use the latest officially disclosed share counts and (ii) replace broker-assumed multiples with the peer-average forward P/E stated in the report. Using the report above as the narrative anchor (which gives 2025E attributable net profit of RMB 246 million and values Manst at 35× 2025E P/E for a target price of RMB 59.85), and using only authoritative public disclosures to source share data, do the following for valuation as of late 2024/early 2025: compute the free-float market capitalization implied by applying the peer-average multiple 28.3× (as cited in the report) to Manst’s 2025E EPS derived from the latest total A-share count, and then multiplying the resulting target price by the latest free-float share count. Give the final result rounded to the nearest yuan (digits only, no commas, no currency symbol).
Answer: 2801055471
Topic: Capital Markets-Sector & Thematic Research
Question: January 2025. You are the legal/compliance head of Guangdong Dongpeng Holdings Co., Ltd. (A-share: 003012.SZ), a Foshan-based ceramics and sanitary-ware maker planning a province-wide “trade-in for new” campaign to ride the broker’s sector call that policy support will revive home-furnishing demand. Your e-commerce platform partners require that the campaign Terms & Conditions cite the exact Chinese document number of **Guangdong Province’s official implementation notice** for the national trade-in program (not the State Council umbrella number, and not a municipal notice). Using authoritative sources only, (i) confirm the listed issuer identity and Guangdong domicile of Dongpeng, (ii) anchor the macro policy chain (State Council top-level No.7 [2024] and the MOFCOM-led 14-ministry action plan), (iii) locate **Guangdong Provincial Government’s trade-in implementation notice** that explicitly covers home furnishing/kitchen-bath renewals, and (iv) extract the **precise Chinese document number string** of that Guangdong notice to be printed verbatim in Dongpeng’s T&Cs. Output only that document-number string (short text; no extra words).
Answer: 粤府〔2024〕27号
Topic: Banking-Treasury & ALM
Question: As a European banking analyst for securities firms, one needs to select 2024 entities from the core European banks (BNP Paribas, Credit Agricole, Societe Generale, UniCredit, ING Group) that meet all six core criteria for global hedge fund clients. The six criteria cover six dimensions: capital adequacy, profitability efficiency, revenue structure, ESG layout, asset quality, and shareholder returns: Condition 1 (capital adequacy, research report + ECB regulatory documents): CET1 ratio ≥ 12.5% (core capital meets the risk-resistance standard, ECB's minimum requirement for European systemically important banks in 2024 is 11.5%); Condition 2 (profitability efficiency, research report + bank annual report): ROTE (tangible common equity return rate) ≥ 11% (profitability exceeds industry average, EBA's industry average in 2024 is 9.8%); Condition 3 (revenue structure, research report + EBA industry data): Non-interest income as a proportion of total revenue ≥ 55% (diversified revenue, reducing reliance on interest spreads); Condition 4 (ESG layout, bank CSR report + SFDR regulatory data): Green credit balance as a proportion of total loans ≥ 2.5% (in line with the EU's sustainable finance policy orientation) - not disclosed directly in the research report; Condition 5 (asset quality, research report + bank annual report): NPL (non-performing loans) ratio ≤ 2.9% (asset quality is stable, lower than the industry average of 3.2% by EBA); Condition 6 (shareholder returns, research report + Bloomberg data): Dividend yield ≥ 5.5% (cash return meets the requirements, in line with institutional income requirements). Provide the full name of the bank. If there are multiple eligible banks, connect them with a comma. If no eligible banks are found, output "none".
Answer: BNP Paribas
Topic: Banking-Risk Management
Question: You are reviewing a bank’s operational risk remediation plan for risk data aggregation and risk reporting.

Using the January 2013 BCBS 239 principles together with the December 2015, June 2018, and October 2022 BCBS progress reports, answer strictly based on the BCBS text and progress-report observations.

Task (multi_choice, select ALL that apply): Which statements are jointly consistent with those BCBS materials?

A. BCBS 239 strongly suggests that national supervisors also apply the Principles to D-SIBs three years after their designation as such by national supervisors.
B. The Principles apply not only to risk management data and reports, but also to all key internal risk management models and to processes that have been outsourced to third parties.
C. BCBS progress reporting explicitly states that the Committee chose not to prescribe objective or quantitative benchmarks for judging compliance with the principles-based framework.
D. In the 2022 progress report, supervisors assessed compliance on a 1–4 scale, where 4 = fully complied and 1 = not adopted.
E. The 2022 progress report concludes that supervisors frequently used severe measures such as capital add-ons and restrictions on capital distributions or business activities to address BCBS 239 deficiencies.
F. The 2015 progress report states that the framework contains 11 principles for banks and 3 principles for supervisors; therefore, supervisory principles account for 3/14 ≈ 21.4% of all principles referenced in the framework.
G. The original implementation deadline referenced for banks identified as G-SIBs in November 2011 or November 2012 was 1 January 2016.
H. BCBS 239 is limited to credit and market risk data only and therefore excludes Pillar 2 capital models, operational risk models, and VaR-type models from its scope.
I. The 2022 progress report notes that recent stress events and heightened monitoring confirmed known RDARR issues and in some cases revealed new aspects.
J. BCBS progress reports consistently conclude that implementation across most G-SIBs is now complete, with only minor residual issues remaining.

Time qualifier: Use only the January 2013 BCBS 239 principles and the December 2015, June 2018, and October 2022 BCBS progress reports.
Answer: A,B,C,D,F,G,I
Topic: Banking-Risk Management
Question: Global context (as of 2024-12-31): You are validating a bank’s Basel operational risk capital computation under the standardised measurement approach.

Assume the following simplified case (all amounts in USD billions):
- Business Indicator (BI) = 5.0.
- Marginal coefficients by BI bucket (as per Basel operational risk standard): 12% for BI ≤ 1; 15% for 1–3; 18% for 3–10; 21% for 10–30; 24% for >30.
- Loss Component (LC) is such that the Internal Loss Multiplier (ILM) equals 1.00 (ie, operational risk capital equals the BIC for this case).

Select ALL statements that are correct.

A. The Business Indicator Component (BIC) equals 0.78 (because 0.12×1 + 0.15×2 + 0.18×2 = 0.78).
B. With ILM = 1.00, the operational risk capital requirement equals 0.78.
C. The operational risk RWAs implied by this capital are 9.75 (because RWAs = 12.5 × capital).
D. Because BI = 5.0 is above 3.0, the marginal coefficient applied to the entire BI is 21%.
E. ILM is strictly greater than 1.00 whenever the Loss Component is below the BIC.
F. Under the Basel operational risk standard, operational risk capital is computed from a 99.9% VaR of internal loss data, analogous to market risk VaR.
Answer: A,B,D
Topic: Insurance-Actuarial & Reserving
Question: A.M. Best rating reports are the most influential risk and credit assessment tools in the global insurance industry. Their significance goes far beyond just 'scoring'; they are a fundamental information infrastructure for the operation of the insurance market. Which of the following bullet points in the draft presentation are  FACTUALLY CORRECT ?
A. The Swedish Club's financial strength rating and long-term issuer credit rating are both A-, with a stable outlook.
B CareSource Reinsurance LLC is a self-insured subsidiary of CareSource, one of the largest Medicaid managed care organizations in the United States, established in 2012, providing medical stop-loss reinsurance.
C Surplus Lines (E&S, excess and surplus insurance market) premium growth has slowed significantly, with premiums increasing by 9.7% in the first three quarters of 2025, below 13.5% in the same period of 2024.
D Saudi Arabian Insurance Company (Damana) has performed well, with improvements in its underwriting business in recent years leading to profitability. It is expected that in the medium term, as the business scale expands and costs are spread out, it will trend towards profitability.
E According to Employers Holdings, Inc.'s assessment of unconventional reserves for the third quarter of 2025, reserve strengthening was carried out due to an increase in the frequency of cumulative trauma claims in California, amounting to 2.8% of the existing net loss and claim expense reserves.
F  Employers Insurance Group's financial strength rating and long-term issuer credit rating are the best among the four companies.


Answer: BEF
Topic: Capital Markets-Company & Equity Research
Question: You are an associate on the equity research desk covering U.S. airlines. Your team circulated a background note titled “Delta Air Lines: 2024 Outlook — Fuel & FX Assumptions (Jan 2, 2024).” In that note, the analyst made the following explicit simplifying assumptions for modeling purposes (these assumptions are given to you): (i) 2024 average jet fuel price = USD 2.60 per gallon (U.S. Gulf Coast spot basis), (ii) no fuel hedging effects, (iii) 2024 fuel consumption equals Delta’s most recent full-year reported gallons, and (iv) use the U.S. statutory corporate tax rate of 21% when translating pre-tax changes into net income; all else (revenue, non-fuel costs, interest, share count) held constant. 

It is now time to replace the assumed fuel price with the authoritative **actual** 2024 annual average jet fuel price published by a U.S. government source and to compute the earnings effect precisely. Using only (a) Delta’s latest full-year reported fuel gallons and diluted weighted-average shares from official filings, (b) the **2024** U.S. Gulf Coast kerosene-type jet fuel **annual** average price, and (c) the U.S. statutory corporate tax rate, determine the **incremental change in Delta’s diluted EPS (USD)** versus the background note’s assumption that the 2024 fuel price would average USD 2.60/gal. 

Report **only one number**: the EPS change (positive means higher EPS than the note’s assumption), rounded to **2 decimals**, with **no unit or percent sign**.
Answer: 1.26
Topic: Capital Markets-Company & Equity Research
Question: You are a buy-side PM at a mainland mutual fund preparing a block trade risk check for Gambol Pet Group Co., Ltd. (SZSE: 301498). The sell-side report (above) forecasts 2025E net profit of RMB 850 million and sets a target price of RMB 95.20 based on 45x 2025E PE. Compliance requires you to (i) verify whether that target is internally consistent with PRC accounting rules for EPS and the company’s actual outstanding shares, and (ii) compute the **free-float–adjusted market capitalization** as of 2025-01-06 using the given current price RMB 82.90 and the latest official counts of restricted vs. unrestricted shares. Use only authoritative sources: CNINFO statutory filings for share counts and restrictions, and the Ministry of Finance ASBE No. 34 for the EPS formula. Assume no share capital change between the latest filing dates and 2025-01-06. Output **one number only**: the free-float–adjusted market capitalization in RMB, rounded to two decimals (no commas, no currency symbol).
Answer: 15062682626.40
Topic: Banking-Capital Markets Intermediation
Question: As a senior financial analyst, you are quantitatively evaluating the capital efficiency of BNP Paribas (BNPP) regarding its strategic acquisition of Athlon. According to the Barclays Equity Research report updated on December 18, 2025, BNPP intends to acquire a 100% stake in Athlon, a transaction expected to result in a negative impact of approximately 13 basis points (bps) on the Group's Common Equity Tier 1 (CET1) ratio. You must determine the precise capital consumption of this deal based only on the research report and official financial supplements:
1. Based on the RWA value of the Corporate & Institutional Banking (CIB) division, determine the Group’s Total Risk-Weighted Assets (RWA) base for Q3 2025.
2. Calculate the accurate capital consumption (Invested Capital) required for the 100% acquisition of Athlon, assuming the 13 bps CET1 impact is applied strictly to the Total RWA base derived in the previous step.
3.Provide your answer in units of 100 million Euros, rounded to two decimal places.
Answer: 9.81
Topic: Insurance-Reinsurance
Question: Allstate Corporation's performance in the first half of 2025 demonstrated a coexistence of strong profitability and significant catastrophe losses. Net income increased substantially in the second quarter, while catastrophe losses in April and May were particularly notable. Based on public reports regarding Allstate in 2025, which of the following statements are correct? (Multiple answers possible)
A. In Q2 2025, Allstate's Property-Liability underlying combined ratio was 79.5%, representing a significant improvement compared to the same period last year.
B. In May 2025, Allstate raised the top of its catastrophe reinsurance tower to $9.5 billion of coverage, with a retention of $1 billion.
C. The pre-tax total catastrophe losses for April and May 2025 combined were $1.37 billion, of which approximately 70% resulted from three widespread wind and hail events.
D. Despite total catastrophe losses nearing $2 billion in Q2 2025, Allstate's net income reached $2.1 billion, significantly higher than the prior year period.
E. In July 2025, Allstate estimated catastrophe losses of $184 million, which entirely resulted from 19 wind and hail events and were lower than the level in July 2024.
F. In Q1 2025, the company's net catastrophe losses decreased to $2.2 billion due to $1.1 billion in reinsurance recoveries.
G. In Q3 2025, the underwriting profit for Allstate's homeowners insurance business climbed to $1.1 billion, primarily benefiting from lower catastrophe losses.

Answer: ADF
Topic: Capital Markets-Company & Equity Research
Question: You are the buy-side analyst supporting a bank covenant review for Shanghai Bailian Group Co., Ltd. (A-share code: 600827; B-share code: 900923). A sell-side report claims that as of 3Q24 the company had “net cash ≈ 89% of market cap,” which the lender wants independently verified using a conservative, covenant-style definition that **excludes trading financial assets** and **excludes lease liabilities**, and counts only **short-term borrowings + long-term borrowings** as interest-bearing debt. Use the research snapshot’s A-share price of **RMB 10.93** as the “current price” input, and use official filings to source balance-sheet items and the fully-diluted total shares outstanding. Compute the precise **Net cash / Market capitalization** (%) under this definition and report the final result **to two decimals, number only, no percent sign**. Assume shares outstanding equal the company’s total share capital at FY2024 year-end (A+B together).
Answer: 88.15
Topic: Capital Markets-Investment Banking
Question: 一家国际投资银行的医药行业研究团队正在为贝达药业（300558.SZ）准备2025年投资策略报告。团队核心关注点在于公司创新药产品的政策红利和审批进度，这些因素将直接影响收入预测和估值模型。具体而言，贝达药业的三代EGFR-TKI产品贝福替尼一线治疗适应症已确认纳入2024年国家医保目录，而CDK4/6抑制剂泰贝西利（Tabecycline）的国内上市申请也已提交。研究任务要求验证这些关键监管信息的真实性，以评估产品放量潜力和公司未来现金流。基于贝达药业2024年中报研报、公司公告及相关监管机构公开信息，请找出贝福替尼一线适应症纳入医保的官方通知文号，并确认泰贝西利国内上市申请的NMPA受理号（输出格式为：/n1. 官方文号;/n2. NMPA受理号）
Answer: /n1. 医保发〔2024〕33号;/n2. CXHS2400039
Topic: Banking-Assets
Question: 兴业银行近期披露的2024年经营快报显示，资产质量继续保持稳中向好态势。全年在信贷扩张趋稳、息差承压背景下，银行加大了风险资产处置与不良压降力度，资产质量指标进一步改善，反映出公司在存量不良处置、批量转让以及核销等多手段配合下实现了“量价双降”，与此同时，公司强化了风险抵御能力建设，拨备覆盖率环比提升 4个百分点 。已知公司 2024年末贷款余额为 58,636 亿元，不良贷款率环比下降 1bp；不良贷款余额环比下降 1%。请从链接中读取2024年末兴业银行的不良贷款率和拨备覆盖率，计算兴业银行 2024年末拨备余额的环比增加额。（单位：亿元，结果保留两位小数）
Answer: 10.28
Topic: Insurance-Property & Casualty
Question: 中国财险是国内领先的财产险公司，长期以来，受益于国内稳步增长的保险需求、优化的风险管理和健康险、车险等新兴产品的扩展，盈利增长稳健。净利润增速是衡量保险公司经营效率、风险控制能力和市场适应性的关键指标之一。子公司中国财险2024年实现净利润295.02亿元至344.19亿元。请读取链接中公司2023年的净利润，计算2024年中国财险净利润的增速的均值。（结果保留整数）
Answer: 30%
Topic: Capital Markets-Sector & Thematic Research
Question: 作为覆盖申通快递的金融分析师，需验证提供的华创证券预测准确性及合理性，请先提取2024年全年中国快递业务量增速并于华创证券预测申通快递业务量增速做对比，若不符合华创证券观点（即全国增速大于申通增速且华创预测申通增速行业领先或全国增速小于申通增速且华创认为申通增速行业落后），则输出不准确；若符合华创证券观点，则结合研报核心预测数据，则需验证其单票净利润对归母净利润变动的敏感性，计算2024年预计申通快递单票扣非净利对预计归母净利的贡献占比（全部采用华创预测数据），并与年报披露的实际数据（采用年报披露的归母净利润和业务量以及研报预测的单票净利润）作对比，最终输出偏离幅度（预计占比-实际占比），结果保留百分号，保留两位小数
Answer: 16.79%
Topic: Banking-Treasury & ALM
Question: 假设你是某银行ALM（资产负债管理）负责人，需要根据监管IRRBB框架判断哪个度量指标触发了内部风险偏好“优先整改”机制。已知（单位：EUR m）：本行Tier 1资本=2,000；基准年度净利息收入NII_base=600。按照监管要求做标准利率冲击，得到：ΔEVE = -350；ΔNII = -90。
内部风险偏好规定：（1） EVE口径限额|ΔEVE| 不得超过 Tier 1 的 15%；-（2）NII口径限额|ΔNII| 不得超过 NII_base 的 5%； 若两者均超限额，则“优先整改”由“相对超出限额幅度更大”的指标触发，其中相对超限幅度定义为（（实际比例 / 限额比例）-1）。
请回答：在本题的数据下，触发“优先整改”的指标的名称是什么？（回答该度量指标的完整中文名称以及英文缩写）
Answer: 年度净利息收入NII
Topic: Capital Markets-Company & Equity Research
Question: 2024年4月下旬，佛燃能源（SZSE: 002911）CFO在年度业绩路演前，要求IR团队就外界关注的“2023年度现金分红派息率约70%”给出一页核验证明，要求只使用公司正式披露文件与交易所/巨潮资讯等权威来源，且口径以“现金分红总额/2023年归母净利润”计算，不得以DPS/EPS比值代替（因当年实施资本公积转增+行权导致股本口径变动）。请你扮演买方机构合规审查分析师：基于公司2023年年报与“2023年度权益分派实施公告”（或其在巨潮资讯引用的权威转述），先精确还原应以何股本口径与每股现金红利口径计提，再据此计算2023年现金分红占归母净利润比例（%）。请给出唯一数字答案（四舍五入到小数点后一位）。
Answer: 70.2
Topic: Others-Internet Finance
Question: 你是三达膜公司的投资经理，目前三达膜（688101）计划投资一个新的膜法水处理项目，初始投资额为3.5亿元，项目生命周期为5年，每年预计产生自由现金流1亿元。你需要评估该项目，公司股权按照年报披露股本数和年报发出日未复权收盘价计算，假设公司β系数为1.2，无风险利率为3%，市场风险溢价为7%，公司债务市场价值按2019年年报非流动负债的1.1倍计算，债务利率为5%，所得税税率由公司2019年年报披露的数据计算得出（实际所得税税率），假设资本结构遵循研报中预测的稳健增长趋势且项目风险和公司整体风险相同。请计算：三达膜投资项目的净现值，单位亿元，保留两位小数，不输出单位
Answer: 0.20