财报小知识：什么是公允价值变动收益？怎么看待其波动性对利润的影响？

Group 1 - The core concept of "fair value changes" reflects unrealized gains or losses from financial assets or liabilities due to market price fluctuations, which include trading financial assets, investment properties, and certain derivatives [1] - Fair value changes are highly dependent on external market factors such as interest rates, stock markets, exchange rates, and commodity prices, making them volatile and not directly indicative of a company's operational capabilities [1][2] - Investors should focus on net profit after excluding non-recurring gains and losses, as well as the cash flow from core business operations, rather than relying heavily on fair value changes for profit growth [1] Group 2 - Companies may have different accounting policies and valuation methods for similar assets, which can affect the comparability of profits; thus, investors should assess the source and reasonableness of fair value changes by reviewing the notes [2] - Fair value changes serve as a window to observe a company's financial performance but should not be the primary basis for evaluating long-term value; a rational perspective on their volatility can help in accurately assessing a company's true profit quality and risk resilience [2]