3739 lines
87 KiB
Markdown
3739 lines
87 KiB
Markdown
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interval: 2
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dedup: 0.05
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video: '/一家馬桶公司，為什麼成了AI命脈？TOTO埋了50年的暗棋 [gfx_EnxmOEY].webm'
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---
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你以為 TOTO 只是一家做馬桶的公司？事實上，它花了近 50 年，把最擅長的「燒陶瓷」一路做到半導體產業最深處。
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一塊不起眼的靜電吸盤，如今成了晶圓製造不可或缺的關鍵零件。當 AI 浪潮席捲全球，這家百年馬桶公司，也意外站上了科技產業的風口。本期就來看看，TOTO 如何用一門看似無聊的手藝，埋下一顆等待了半個世紀的暗棋。
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## AI 報告，為何拉升一支「馬桶股」？
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1:06
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1:10
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1:12
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1:14
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1:16
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1:26
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## 馬桶界的愛馬仕：TOTO 的前兩場豪賭
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1:40
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<summary>1:56</summary>
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1:58
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2:00
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</details>
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<br/>
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2:06
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<summary>2:14</summary>
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2:16
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</details>
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2:34
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</details>
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<details>
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<summary>2:48</summary>
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2:56
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3:04
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<details>
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<summary>3:06</summary>
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3:08
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</details>
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</details>
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3:56
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4:00
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4:44
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</details>
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<br/>
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5:00
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<details>
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<summary>5:04</summary>
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5:06
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</details>
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<br/>
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5:08
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5:10
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<summary>5:10</summary>
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5:12
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5:14
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5:16
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5:18
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5:20
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</details>
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5:30
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<details>
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<summary>5:32</summary>
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5:34
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5:36
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</details>
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5:38
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<summary>5:40</summary>
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5:42
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</details>
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<br/>
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5:50
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5:52
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<details>
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<summary>5:52</summary>
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5:54
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5:56
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5:58
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6:00
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6:12
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6:14
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6:16
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6:18
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6:20
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|
6:22
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|
6:24
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|
6:26
|
|
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|
|
|
|
6:28
|
|
|
|
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|
|
|
</details>
|
|
<br/>
|
|
6:30
|
|
|
|
|
|
|
|
6:32
|
|
|
|
|
|
<details>
|
|
<summary>6:32</summary>
|
|
|
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|
|
6:34
|
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|
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|
|
|
|
6:36
|
|
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|
|
</details>
|
|
<br/>
|
|
6:38
|
|
|
|
|
|
|
|
6:40
|
|
|
|
|
|
<details>
|
|
<summary>6:40</summary>
|
|
|
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|
|
</details>
|
|
<br/>
|
|
6:42
|
|
|
|
|
|
|
|
6:44
|
|
|
|
|
|
<details>
|
|
<summary>6:44</summary>
|
|
|
|
|
|
6:46
|
|
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|
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|
|
6:48
|
|
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|
6:50
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|
6:52
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6:54
|
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|
6:56
|
|
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|
|
6:58
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|
|
7:00
|
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|
|
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|
|
7:02
|
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|
|
</details>
|
|
<br/>
|
|
7:04
|
|
|
|
## 第三場豪賭：不能只靠一條腿走路
|
|
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|
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|
|
7:06
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|
7:08
|
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|
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|
|
7:10
|
|
|
|
|
|
<details>
|
|
<summary>7:10</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
7:12
|
|
|
|
|
|
|
|
7:14
|
|
|
|
|
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|
|
7:16
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|
7:18
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7:20
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|
|
7:22
|
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7:24
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|
|
7:26
|
|
|
|
|
|
|
|
7:28
|
|
|
|
|
|
<details>
|
|
<summary>7:28</summary>
|
|
|
|
|
|
7:30
|
|
|
|
|
|
|
|
7:32
|
|
|
|
|
|
|
|
7:34
|
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|
|
|
|
|
7:36
|
|
|
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|
|
|
|
7:38
|
|
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|
|
|
|
|
7:40
|
|
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|
|
|
|
|
7:42
|
|
|
|
|
|
|
|
7:44
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
7:46
|
|
|
|
|
|
|
|
7:48
|
|
|
|
|
|
|
|
7:50
|
|
|
|
|
|
|
|
7:52
|
|
|
|
|
|
|
|
7:54
|
|
|
|
|
|
|
|
7:56
|
|
|
|
|
|
<details>
|
|
<summary>7:56</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
7:58
|
|
|
|
|
|
|
|
8:00
|
|
|
|
|
|
<details>
|
|
<summary>8:00</summary>
|
|
|
|
|
|
8:02
|
|
|
|
|
|
|
|
8:04
|
|
|
|
|
|
|
|
8:06
|
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|
|
|
8:08
|
|
|
|
|
|
|
|
8:10
|
|
|
|
|
|
|
|
8:12
|
|
|
|
|
|
|
|
8:14
|
|
|
|
|
|
|
|
8:16
|
|
|
|
|
|
|
|
8:18
|
|
|
|
|
|
|
|
8:20
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
8:22
|
|
|
|
|
|
|
|
8:24
|
|
|
|
|
|
|
|
8:26
|
|
|
|
|
|
<details>
|
|
<summary>8:26</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
8:28
|
|
|
|
|
|
|
|
8:30
|
|
|
|
|
|
|
|
8:32
|
|
|
|
|
|
<details>
|
|
<summary>8:32</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
8:34
|
|
|
|
|
|
|
|
8:36
|
|
|
|
|
|
<details>
|
|
<summary>8:36</summary>
|
|
|
|
|
|
8:38
|
|
|
|
|
|
|
|
8:40
|
|
|
|
|
|
|
|
8:42
|
|
|
|
|
|
|
|
8:44
|
|
|
|
|
|
|
|
8:46
|
|
|
|
|
|
|
|
8:48
|
|
|
|
|
|
|
|
8:50
|
|
|
|
|
|
|
|
8:52
|
|
|
|
|
|
|
|
8:54
|
|
|
|
|
|
|
|
8:56
|
|
|
|
|
|
|
|
8:58
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
9:00
|
|
|
|
|
|
|
|
9:02
|
|
|
|
|
|
|
|
9:04
|
|
|
|
|
|
<details>
|
|
<summary>9:04</summary>
|
|
|
|
|
|
9:06
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
9:08
|
|
|
|
|
|
|
|
9:10
|
|
|
|
|
|
<details>
|
|
<summary>9:10</summary>
|
|
|
|
|
|
9:12
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
9:14
|
|
|
|
|
|
|
|
9:16
|
|
|
|
|
|
<details>
|
|
<summary>9:16</summary>
|
|
|
|
|
|
9:18
|
|
|
|
|
|
|
|
9:20
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
9:22
|
|
|
|
|
|
|
|
9:24
|
|
|
|
|
|
|
|
9:26
|
|
|
|
|
|
|
|
9:28
|
|
|
|
|
|
|
|
9:30
|
|
|
|
|
|
|
|
9:32
|
|
|
|
|
|
|
|
9:34
|
|
|
|
|
|
|
|
9:36
|
|
|
|
|
|
<details>
|
|
<summary>9:36</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
9:38
|
|
|
|
|
|
|
|
9:40
|
|
|
|
|
|
<details>
|
|
<summary>9:40</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
9:42
|
|
|
|
|
|
|
|
9:44
|
|
|
|
|
|
<details>
|
|
<summary>9:44</summary>
|
|
|
|
|
|
9:46
|
|
|
|
|
|
|
|
9:48
|
|
|
|
|
|
|
|
9:50
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
9:52
|
|
|
|
|
|
|
|
9:54
|
|
|
|
|
|
<details>
|
|
<summary>9:54</summary>
|
|
|
|
|
|
9:56
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
9:58
|
|
|
|
|
|
|
|
10:00
|
|
|
|
|
|
|
|
10:02
|
|
|
|
|
|
|
|
10:04
|
|
|
|
|
|
|
|
10:06
|
|
|
|
|
|
<details>
|
|
<summary>10:06</summary>
|
|
|
|
|
|
10:08
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
10:10
|
|
|
|
|
|
|
|
10:12
|
|
|
|
## 半導體首戰慘敗，卻留下關鍵技術
|
|
|
|
|
|
|
|
10:14
|
|
|
|
|
|
|
|
10:16
|
|
|
|
|
|
|
|
10:18
|
|
|
|
|
|
<details>
|
|
<summary>10:18</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
10:20
|
|
|
|
|
|
|
|
10:22
|
|
|
|
|
|
<details>
|
|
<summary>10:22</summary>
|
|
|
|
|
|
10:24
|
|
|
|
|
|
|
|
10:26
|
|
|
|
|
|
|
|
10:28
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
10:30
|
|
|
|
|
|
|
|
10:32
|
|
|
|
|
|
|
|
10:34
|
|
|
|
|
|
<details>
|
|
<summary>10:34</summary>
|
|
|
|
|
|
10:36
|
|
|
|
|
|
|
|
10:38
|
|
|
|
|
|
|
|
10:40
|
|
|
|
|
|
|
|
10:42
|
|
|
|
|
|
|
|
10:44
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
10:46
|
|
|
|
|
|
|
|
10:48
|
|
|
|
|
|
|
|
10:50
|
|
|
|
|
|
|
|
10:52
|
|
|
|
|
|
<details>
|
|
<summary>10:52</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
10:54
|
|
|
|
|
|
|
|
10:56
|
|
|
|
|
|
|
|
10:58
|
|
|
|
|
|
|
|
11:00
|
|
|
|
|
|
|
|
11:02
|
|
|
|
|
|
<details>
|
|
<summary>11:02</summary>
|
|
|
|
|
|
11:04
|
|
|
|
|
|
|
|
11:06
|
|
|
|
|
|
|
|
11:08
|
|
|
|
|
|
|
|
11:10
|
|
|
|
|
|
|
|
11:12
|
|
|
|
|
|
|
|
11:14
|
|
|
|
|
|
|
|
11:16
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
11:18
|
|
|
|
|
|
|
|
11:20
|
|
|
|
|
|
|
|
11:22
|
|
|
|
|
|
|
|
11:24
|
|
|
|
|
|
|
|
11:26
|
|
|
|
|
|
|
|
11:28
|
|
|
|
|
|
|
|
11:30
|
|
|
|
|
|
|
|
11:32
|
|
|
|
|
|
<details>
|
|
<summary>11:32</summary>
|
|
|
|
|
|
11:34
|
|
|
|
|
|
|
|
11:36
|
|
|
|
|
|
|
|
11:38
|
|
|
|
|
|
|
|
11:40
|
|
|
|
|
|
|
|
11:42
|
|
|
|
|
|
|
|
11:44
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
11:46
|
|
|
|
|
|
|
|
11:48
|
|
|
|
|
|
|
|
11:50
|
|
|
|
|
|
<details>
|
|
<summary>11:50</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
11:52
|
|
|
|
|
|
|
|
11:54
|
|
|
|
|
|
|
|
11:56
|
|
|
|
|
|
<details>
|
|
<summary>11:56</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
11:58
|
|
|
|
|
|
|
|
12:00
|
|
|
|
|
|
|
|
12:02
|
|
|
|
|
|
<details>
|
|
<summary>12:02</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
12:04
|
|
|
|
|
|
|
|
12:06
|
|
|
|
|
|
|
|
12:08
|
|
|
|
|
|
|
|
12:10
|
|
|
|
|
|
<details>
|
|
<summary>12:10</summary>
|
|
|
|
|
|
12:12
|
|
|
|
|
|
|
|
12:14
|
|
|
|
|
|
|
|
12:16
|
|
|
|
|
|
|
|
12:18
|
|
|
|
|
|
|
|
12:20
|
|
|
|
|
|
|
|
12:22
|
|
|
|
|
|
|
|
12:24
|
|
|
|
|
|
|
|
12:26
|
|
|
|
|
|
|
|
12:28
|
|
|
|
|
|
|
|
12:30
|
|
|
|
|
|
|
|
12:32
|
|
|
|
|
|
|
|
12:34
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
12:36
|
|
|
|
|
|
|
|
12:38
|
|
|
|
|
|
|
|
12:40
|
|
|
|
|
|
|
|
12:42
|
|
|
|
|
|
|
|
12:44
|
|
|
|
|
|
|
|
12:46
|
|
|
|
|
|
|
|
12:48
|
|
|
|
|
|
|
|
12:50
|
|
|
|
|
|
|
|
12:52
|
|
|
|
|
|
<details>
|
|
<summary>12:52</summary>
|
|
|
|
|
|
12:54
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
12:56
|
|
|
|
|
|
|
|
12:58
|
|
|
|
|
|
<details>
|
|
<summary>12:58</summary>
|
|
|
|
|
|
13:00
|
|
|
|
|
|
|
|
13:02
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
13:04
|
|
|
|
|
|
|
|
13:06
|
|
|
|
|
|
<details>
|
|
<summary>13:06</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
13:08
|
|
|
|
|
|
|
|
13:10
|
|
|
|
|
|
|
|
13:12
|
|
|
|
|
|
|
|
13:14
|
|
|
|
|
|
|
|
13:16
|
|
|
|
|
|
<details>
|
|
<summary>13:16</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
13:18
|
|
|
|
|
|
|
|
13:20
|
|
|
|
|
|
|
|
13:22
|
|
|
|
|
|
<details>
|
|
<summary>13:22</summary>
|
|
|
|
|
|
13:24
|
|
|
|
|
|
|
|
13:26
|
|
|
|
|
|
|
|
13:28
|
|
|
|
|
|
|
|
13:30
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
13:32
|
|
|
|
|
|
|
|
13:34
|
|
|
|
|
|
|
|
13:36
|
|
|
|
## 靜電吸盤：一塊陶瓷如何卡住晶圓廠
|
|
|
|
|
|
13:38
|
|
|
|
|
|
|
|
13:40
|
|
|
|
|
|
|
|
13:42
|
|
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|
|
|
|
13:44
|
|
|
|
|
|
|
|
13:46
|
|
|
|
|
|
<details>
|
|
<summary>13:46</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
13:48
|
|
|
|
|
|
|
|
13:50
|
|
|
|
|
|
|
|
13:52
|
|
|
|
|
|
|
|
13:54
|
|
|
|
|
|
|
|
13:56
|
|
|
|
|
|
<details>
|
|
<summary>13:56</summary>
|
|
|
|
|
|
13:58
|
|
|
|
|
|
|
|
14:00
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
14:02
|
|
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|
|
|
|
|
14:04
|
|
|
|
|
|
|
|
14:06
|
|
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|
|
|
|
|
14:08
|
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|
|
|
|
|
|
14:10
|
|
|
|
|
|
|
|
14:12
|
|
|
|
|
|
<details>
|
|
<summary>14:12</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
14:14
|
|
|
|
|
|
|
|
14:16
|
|
|
|
|
|
<details>
|
|
<summary>14:16</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
14:18
|
|
|
|
|
|
|
|
14:20
|
|
|
|
|
|
<details>
|
|
<summary>14:20</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
14:22
|
|
|
|
|
|
|
|
14:24
|
|
|
|
|
|
|
|
14:26
|
|
|
|
|
|
<details>
|
|
<summary>14:26</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
14:28
|
|
|
|
|
|
|
|
14:30
|
|
|
|
|
|
<details>
|
|
<summary>14:30</summary>
|
|
|
|
|
|
14:32
|
|
|
|
|
|
|
|
14:34
|
|
|
|
|
|
|
|
14:36
|
|
|
|
|
|
|
|
14:38
|
|
|
|
|
|
|
|
14:40
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
14:42
|
|
|
|
|
|
|
|
14:44
|
|
|
|
|
|
|
|
14:46
|
|
|
|
|
|
|
|
14:48
|
|
|
|
|
|
|
|
14:50
|
|
|
|
|
|
|
|
14:52
|
|
|
|
|
|
|
|
14:54
|
|
|
|
|
|
<details>
|
|
<summary>14:54</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
14:56
|
|
|
|
|
|
|
|
14:58
|
|
|
|
|
|
|
|
15:00
|
|
|
|
|
|
<details>
|
|
<summary>15:00</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
15:02
|
|
|
|
|
|
|
|
15:04
|
|
|
|
|
|
<details>
|
|
<summary>15:04</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
15:06
|
|
|
|
|
|
|
|
15:08
|
|
|
|
|
|
<details>
|
|
<summary>15:08</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
15:10
|
|
|
|
|
|
|
|
15:12
|
|
|
|
|
|
<details>
|
|
<summary>15:12</summary>
|
|
|
|
|
|
15:14
|
|
|
|
|
|
|
|
15:16
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
15:18
|
|
|
|
|
|
|
|
15:20
|
|
|
|
|
|
<details>
|
|
<summary>15:20</summary>
|
|
|
|
|
|
15:22
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
15:24
|
|
|
|
|
|
|
|
15:26
|
|
|
|
|
|
<details>
|
|
<summary>15:26</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
15:28
|
|
|
|
|
|
|
|
15:30
|
|
|
|
|
|
|
|
15:32
|
|
|
|
|
|
|
|
15:34
|
|
|
|
|
|
|
|
15:36
|
|
|
|
|
|
<details>
|
|
<summary>15:36</summary>
|
|
|
|
|
|
15:38
|
|
|
|
|
|
|
|
15:40
|
|
|
|
|
|
|
|
15:42
|
|
|
|
|
|
|
|
15:44
|
|
|
|
|
|
|
|
15:46
|
|
|
|
|
|
|
|
15:48
|
|
|
|
|
|
|
|
15:50
|
|
|
|
|
|
|
|
15:52
|
|
|
|
|
|
|
|
15:54
|
|
|
|
|
|
|
|
15:56
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
15:58
|
|
|
|
|
|
|
|
16:00
|
|
|
|
|
|
<details>
|
|
<summary>16:00</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
16:02
|
|
|
|
|
|
|
|
16:04
|
|
|
|
|
|
|
|
16:06
|
|
|
|
|
|
<details>
|
|
<summary>16:06</summary>
|
|
|
|
|
|
16:08
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
16:10
|
|
|
|
|
|
|
|
16:12
|
|
|
|
|
|
|
|
16:14
|
|
|
|
|
|
<details>
|
|
<summary>16:14</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
16:16
|
|
|
|
|
|
|
|
16:18
|
|
|
|
|
|
|
|
16:20
|
|
|
|
|
|
|
|
16:22
|
|
|
|
|
|
|
|
16:24
|
|
|
|
|
|
<details>
|
|
<summary>16:24</summary>
|
|
|
|
|
|
16:26
|
|
|
|
|
|
|
|
16:28
|
|
|
|
|
|
|
|
16:30
|
|
|
|
|
|
|
|
16:32
|
|
|
|
|
|
|
|
16:34
|
|
|
|
|
|
|
|
16:36
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
16:38
|
|
|
|
|
|
|
|
16:40
|
|
|
|
|
|
|
|
16:42
|
|
|
|
|
|
|
|
16:44
|
|
|
|
|
|
|
|
16:46
|
|
|
|
## AI 點火：五十年的暗棋終於爆發
|
|
|
|
|
|
|
|
16:48
|
|
|
|
|
|
<details>
|
|
<summary>16:48</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
16:50
|
|
|
|
|
|
|
|
16:52
|
|
|
|
|
|
<details>
|
|
<summary>16:52</summary>
|
|
|
|
|
|
16:54
|
|
|
|
|
|
|
|
16:56
|
|
|
|
|
|
|
|
16:58
|
|
|
|
|
|
|
|
17:00
|
|
|
|
|
|
|
|
17:02
|
|
|
|
|
|
|
|
17:04
|
|
|
|
|
|
|
|
17:06
|
|
|
|
|
|
|
|
17:08
|
|
|
|
|
|
|
|
17:10
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
17:12
|
|
|
|
|
|
|
|
17:14
|
|
|
|
|
|
|
|
17:16
|
|
|
|
|
|
<details>
|
|
<summary>17:16</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
17:18
|
|
|
|
|
|
|
|
17:20
|
|
|
|
|
|
|
|
17:22
|
|
|
|
|
|
|
|
17:24
|
|
|
|
|
|
|
|
17:26
|
|
|
|
|
|
<details>
|
|
<summary>17:26</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
17:28
|
|
|
|
|
|
|
|
17:30
|
|
|
|
|
|
|
|
17:32
|
|
|
|
|
|
|
|
17:34
|
|
|
|
|
|
|
|
17:36
|
|
|
|
|
|
|
|
17:38
|
|
|
|
|
|
|
|
17:40
|
|
|
|
|
|
|
|
17:42
|
|
|
|
|
|
<details>
|
|
<summary>17:42</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
17:44
|
|
|
|
|
|
|
|
17:46
|
|
|
|
|
|
|
|
17:48
|
|
|
|
|
|
<details>
|
|
<summary>17:48</summary>
|
|
|
|
|
|
17:50
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
17:52
|
|
|
|
|
|
|
|
17:54
|
|
|
|
|
|
|
|
17:56
|
|
|
|
|
|
|
|
17:58
|
|
|
|
|
|
|
|
18:00
|
|
|
|
|
|
|
|
18:02
|
|
|
|
|
|
|
|
18:04
|
|
|
|
|
|
|
|
18:06
|
|
|
|
|
|
<details>
|
|
<summary>18:06</summary>
|
|
|
|
|
|
18:08
|
|
|
|
|
|
|
|
18:10
|
|
|
|
|
|
|
|
18:12
|
|
|
|
|
|
|
|
18:14
|
|
|
|
|
|
|
|
18:16
|
|
|
|
|
|
|
|
18:18
|
|
|
|
|
|
|
|
18:20
|
|
|
|
|
|
|
|
18:22
|
|
|
|
|
|
|
|
18:24
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
18:26
|
|
|
|
|
|
|
|
18:28
|
|
|
|
|
|
<details>
|
|
<summary>18:28</summary>
|
|
|
|
|
|
18:30
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
18:32
|
|
|
|
|
|
|
|
18:34
|
|
|
|
|
|
<details>
|
|
<summary>18:34</summary>
|
|
|
|
|
|
18:36
|
|
|
|
|
|
|
|
18:38
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
18:40
|
|
|
|
|
|
|
|
18:42
|
|
|
|
|
|
<details>
|
|
<summary>18:42</summary>
|
|
|
|
|
|
18:44
|
|
|
|
|
|
|
|
18:46
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
18:48
|
|
|
|
|
|
|
|
18:50
|
|
|
|
|
|
|
|
18:52
|
|
|
|
|
|
|
|
18:54
|
|
|
|
|
|
|
|
18:56
|
|
|
|
|
|
<details>
|
|
<summary>18:56</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
18:58
|
|
|
|
|
|
|
|
19:00
|
|
|
|
|
|
|
|
19:02
|
|
|
|
|
|
<details>
|
|
<summary>19:02</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
19:04
|
|
|
|
|
|
|
|
19:06
|
|
|
|
|
|
|
|
19:08
|
|
|
|
|
|
<details>
|
|
<summary>19:08</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
19:10
|
|
|
|
|
|
|
|
19:12
|
|
|
|
|
|
<details>
|
|
<summary>19:12</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
19:14
|
|
|
|
|
|
|
|
19:16
|
|
|
|
|
|
|
|
19:18
|
|
|
|
|
|
|
|
19:20
|
|
|
|
|
|
<details>
|
|
<summary>19:20</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
19:22
|
|
|
|
|
|
|
|
19:24
|
|
|
|
|
|
|
|
19:26
|
|
|
|
|
|
|
|
19:28
|
|
|
|
|
|
<details>
|
|
<summary>19:28</summary>
|
|
|
|
|
|
19:30
|
|
|
|
|
|
|
|
19:32
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
19:34
|
|
|
|
|
|
|
|
19:36
|
|
|
|
|
|
|
|
19:38
|
|
|
|
## 中國市場失血：TOTO 的冰與火
|
|
|
|
|
|
|
|
19:40
|
|
|
|
|
|
<details>
|
|
<summary>19:40</summary>
|
|
|
|
|
|
19:42
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
19:44
|
|
|
|
|
|
|
|
19:46
|
|
|
|
|
|
<details>
|
|
<summary>19:46</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
19:48
|
|
|
|
|
|
|
|
19:50
|
|
|
|
|
|
|
|
19:52
|
|
|
|
|
|
<details>
|
|
<summary>19:52</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
19:54
|
|
|
|
|
|
|
|
19:56
|
|
|
|
|
|
|
|
19:58
|
|
|
|
|
|
<details>
|
|
<summary>19:58</summary>
|
|
|
|
|
|
20:00
|
|
|
|
|
|
|
|
20:02
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
20:04
|
|
|
|
|
|
|
|
20:06
|
|
|
|
|
|
<details>
|
|
<summary>20:06</summary>
|
|
|
|
|
|
20:08
|
|
|
|
|
|
|
|
20:10
|
|
|
|
|
|
|
|
20:12
|
|
|
|
|
|
|
|
20:14
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
20:16
|
|
|
|
|
|
|
|
20:18
|
|
|
|
|
|
|
|
20:20
|
|
|
|
|
|
<details>
|
|
<summary>20:20</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
20:22
|
|
|
|
|
|
|
|
20:24
|
|
|
|
|
|
<details>
|
|
<summary>20:24</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
20:26
|
|
|
|
|
|
|
|
20:28
|
|
|
|
|
|
|
|
20:30
|
|
|
|
|
|
<details>
|
|
<summary>20:30</summary>
|
|
|
|
|
|
20:32
|
|
|
|
|
|
|
|
20:34
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
20:36
|
|
|
|
|
|
|
|
20:38
|
|
|
|
|
|
<details>
|
|
<summary>20:38</summary>
|
|
|
|
|
|
20:40
|
|
|
|
|
|
|
|
20:42
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
20:44
|
|
|
|
|
|
|
|
20:46
|
|
|
|
|
|
|
|
20:48
|
|
|
|
|
|
<details>
|
|
<summary>20:48</summary>
|
|
|
|
|
|
20:50
|
|
|
|
|
|
|
|
20:52
|
|
|
|
|
|
|
|
20:54
|
|
|
|
|
|
|
|
20:56
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
20:58
|
|
|
|
|
|
|
|
21:00
|
|
|
|
|
|
<details>
|
|
<summary>21:00</summary>
|
|
|
|
|
|
21:02
|
|
|
|
|
|
|
|
21:04
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
21:06
|
|
|
|
|
|
|
|
21:08
|
|
|
|
|
|
<details>
|
|
<summary>21:08</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
21:10
|
|
|
|
|
|
|
|
21:12
|
|
|
|
|
|
<details>
|
|
<summary>21:12</summary>
|
|
|
|
|
|
21:14
|
|
|
|
|
|
|
|
21:16
|
|
|
|
|
|
|
|
21:18
|
|
|
|
|
|
|
|
21:20
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
21:22
|
|
|
|
|
|
|
|
21:24
|
|
|
|
|
|
<details>
|
|
<summary>21:24</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
21:26
|
|
|
|
|
|
|
|
21:28
|
|
|
|
|
|
|
|
21:30
|
|
|
|
|
|
<details>
|
|
<summary>21:30</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
21:32
|
|
|
|
|
|
|
|
21:34
|
|
|
|
|
|
<details>
|
|
<summary>21:34</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
21:36
|
|
|
|
|
|
|
|
21:38
|
|
|
|
|
|
|
|
21:40
|
|
|
|
|
|
<details>
|
|
<summary>21:40</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
21:42
|
|
|
|
|
|
|
|
21:44
|
|
|
|
|
|
<details>
|
|
<summary>21:44</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
21:46
|
|
|
|
|
|
|
|
21:48
|
|
|
|
|
|
<details>
|
|
<summary>21:48</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
21:50
|
|
|
|
|
|
|
|
21:52
|
|
|
|
|
|
|
|
21:54
|
|
|
|
|
|
|
|
21:56
|
|
|
|
|
|
|
|
21:58
|
|
|
|
|
|
<details>
|
|
<summary>21:58</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
22:00
|
|
|
|
|
|
|
|
22:02
|
|
|
|
|
|
<details>
|
|
<summary>22:02</summary>
|
|
|
|
|
|
22:04
|
|
|
|
|
|
|
|
22:06
|
|
|
|
|
|
|
|
22:08
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
22:10
|
|
|
|
|
|
|
|
22:12
|
|
|
|
|
|
|
|
22:14
|
|
|
|
## 不追風口，為什麼反而等到了風口？
|
|
|
|
|
|
22:16
|
|
|
|
|
|
<details>
|
|
<summary>22:16</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
22:18
|
|
|
|
|
|
|
|
22:20
|
|
|
|
|
|
<details>
|
|
<summary>22:20</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
22:22
|
|
|
|
|
|
|
|
22:24
|
|
|
|
|
|
|
|
22:26
|
|
|
|
|
|
|
|
22:28
|
|
|
|
|
|
|
|
22:30
|
|
|
|
|
|
<details>
|
|
<summary>22:30</summary>
|
|
|
|
|
|
22:32
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
22:34
|
|
|
|
|
|
|
|
22:36
|
|
|
|
|
|
<details>
|
|
<summary>22:36</summary>
|
|
|
|
|
|
22:38
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
22:40
|
|
|
|
|
|
|
|
22:42
|
|
|
|
|
|
|
|
22:44
|
|
|
|
|
|
|
|
22:46
|
|
|
|
|
|
|
|
22:48
|
|
|
|
|
|
|
|
22:50
|
|
|
|
|
|
|
|
22:52
|
|
|
|
|
|
|
|
22:54
|
|
|
|
|
|
|
|
22:56
|
|
|
|
|
|
<details>
|
|
<summary>22:56</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
22:58
|
|
|
|
|
|
|
|
23:00
|
|
|
|
|
|
|
|
23:02
|
|
|
|
|
|
<details>
|
|
<summary>23:02</summary>
|
|
|
|
|
|
23:04
|
|
|
|
|
|
|
|
23:06
|
|
|
|
|
|
|
|
23:08
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
23:10
|
|
|
|
|
|
|
|
23:12
|
|
|
|
|
|
|
|
23:14
|
|
|
|
|
|
|
|
23:16
|
|
|
|
|
|
|
|
23:18
|
|
|
|
|
|
|
|
23:20
|
|
|
|
|
|
|
|
23:22
|
|
|
|
|
|
|
|
23:24
|
|
|
|
|
|
<details>
|
|
<summary>23:24</summary>
|
|
|
|
|
|
23:26
|
|
|
|
|
|
|
|
23:28
|
|
|
|
|
|
|
|
23:30
|
|
|
|
|
|
|
|
23:32
|
|
|
|
|
|
|
|
23:34
|
|
|
|
|
|
|
|
23:36
|
|
|
|
|
|
|
|
23:38
|
|
|
|
|
|
|
|
23:40
|
|
|
|
|
|
|
|
23:42
|
|
|
|
|
|
|
|
23:44
|
|
|
|
|
|
|
|
23:46
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
23:48
|
|
|
|
|
|
|
|
23:50
|
|
|
|
|
|
<details>
|
|
<summary>23:50</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
23:52
|
|
|
|
|
|
|
|
23:54
|
|
|
|
|
|
|
|
23:56
|
|
|
|
|
|
<details>
|
|
<summary>23:56</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
23:58
|
|
|
|
|
|
|
|
24:00
|
|
|
|
|
|
<details>
|
|
<summary>24:00</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
24:02
|
|
|
|
|
|
|
|
24:04
|
|
|
|
|
|
|
|
24:06
|
|
|
|
|
|
<details>
|
|
<summary>24:06</summary>
|
|
|
|
|
|
24:08
|
|
|
|
|
|
|
|
24:10
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
24:12
|
|
|
|
|
|
|
|
24:14
|
|
|
|
|
|
|
|
24:16
|
|
|
|
|
|
<details>
|
|
<summary>24:16</summary>
|
|
|
|
|
|
24:18
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
24:20
|
|
|
|
|
|
|
|
24:22
|
|
|
|
|
|
<details>
|
|
<summary>24:22</summary>
|
|
|
|
|
|
24:24
|
|
|
|
|
|
|
|
24:26
|
|
|
|
|
|
|
|
24:28
|
|
|
|
|
|
|
|
24:30
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
24:32
|
|
|
|
|
|
|
|
24:34
|
|
|
|
|
|
<details>
|
|
<summary>24:34</summary>
|
|
|
|
|
|
24:36
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
24:38
|
|
|
|
|
|
|
|
24:40
|
|
|
|
|
|
<details>
|
|
<summary>24:40</summary>
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
24:42
|
|
|
|
|
|
|
|
24:44
|
|
|
|
|
|
<details>
|
|
<summary>24:44</summary>
|
|
|
|
|
|
24:46
|
|
|
|
|
|
|
|
</details>
|
|
<br/>
|
|
24:48
|
|
|
|
|