英文年报（Annual Report / Form 10-K）是上市公司向监管机构提交的最权威的公开文件，语言规范、选词精准，是商务英语学习的顶级语料库。下面我们来看看英伟达2026年第一季度的财报中有哪些词汇、句型与表达，可以助力我们备考BEC。“NVIDIA pioneered accelerated computing to help solve the most challenging computational problems. NVIDIA is now a data center scale AI infrastructure company reshaping all industries.”【译文】英伟达开创了加速计算领域，努力解决最具挑战性的计算问题。如今，公司已进化为数据中心规模的 AI 基础设施公司，正在重塑各行各业。
- pioneer sth.（开创、先驱）是回答公司历史题的高分动词；
- reshape（重塑）常出现在描述行业影响力的写作题中。
“NVIDIA has a platform strategy, bringing together hardware, systems, software, algorithms, libraries, AI models and training data sets, and services to create unique value for the markets we serve.”【译文】英伟达实行平台化战略，将硬件、系统、软件、算法、程序库、AI 模型及训练数据集和服务融为一体，为目标市场创造独特价值。
bring together A, B, C and D（整合 A、B、C和 D） —— BEC 写作第二部分“描述公司产品线”时可直接套用。“Revenue for fiscal year 2026 was $215.9 billion, up 65% from a year ago. Data Center revenue for fiscal year 2026 was up 68% from a year ago. The strong year-on-year growth was driven by the major platform shifts – accelerated computing and AI.”【译文】2026 财年营收达 2,159 亿美元，同比增长 65%。数据中心营收同比增长 68%。这一强劲的同比增长由重大平台转型——加速计算与 AI——所驱动。
up 65% from a year ago=increased 65% year-on-year。这是 BEC 描述增长最简洁的句型。“Gross margins decreased to 71.1% in fiscal year 2026 from 75.0% in fiscal year 2025 as our business modeltransitioned from offering Hopper HGX systems to Blackwell full-scale data center solutions and a $4.5 billion charge associated with H20 excess inventory and purchase obligations in the first quarter of fiscal year 2026.”【译文】2026财年的毛利率从2025财年的75.0%下降至71.1%，其原因在于公司业务模式的转型——即从提供 Hopper HGX 系统转向 Blackwell 全规模数据中心解决方案，以及在2026财年第一季度产生了一笔与 H20 库存过剩及采购义务相关的45亿美元支出。
decreased to X from Y（由 Y 下除至 X）和 increased to X from Y 是 BEC 写作考题中描述数据变化的标准句型，远比口语化的“变大变小”更加专业。“Long manufacturing lead times and uncertain supply and capacity availability, combined with a failure to estimate customer demand accurately, has led and could lead to mismatches between supply and demand.”【译文】较长的生产前置期以及产能不确定性，叠加无法准确预测客户需求，已导致并可能继续导致供需失衡。
has led and could lead to——同一句话同时包含“已发生的事实”与“潜在风险”，在 BEC 商务信函/报告写作中运用可以提升语言的成熟度。“As of the end of fiscal year 2026, we were effectively foreclosed from competing in China’s data center computing/compute market, and our effective foreclosure from the China market helped our competitors build larger developer and customer ecosystems to challenge us worldwide.”【译文】截至 2026 财年末，公司实质上已被排除在中国数据中心计算市场竞争之外，而这一局面帮助竞争对手构建了更广泛的开发者和客户生态系统，从而在全球范围内对英伟达发起挑战。
foreclosed from（被排除在……之外）、export controls（出口管制）、material adverse impact（重大不利影响）、developer ecosystem（开发者生态系统）——这四个短语在 BEC “贸易监管”、“市场竞争”题型中高频出现。“Cash provided by operating activities increased in fiscal year 2026 compared to fiscal year 2025, due to higher revenue. Cash used in investing activities increased in fiscal year 2026 compared to fiscal year 2025, primarily driven by higher purchases of equity investment securities and the execution of a non-exclusive license agreement with Groq.”【译文】经营活动产生的现金流在2026 财年同比增加，主要因为营收提升。投资活动使用的现金流增加，主要由于进一步购入股权投资证券以及与Groq 签署非独家许可合同所致。
- Net cash provided by operating activities：经营活动产生的净现金流
- Net cash used in investing activities：投资活动使用的净现金流
- Net cash used in financing activities：筹资活动使用的净现金流
“On August 26, 2025, our Board of Directors approved an additional $60.0 billion in share repurchase authorization, without expiration. In fiscal year 2026, we repurchased 282 million shares of our common stock for $40.4 billion.”【译文】2025 年 8 月 26 日，董事会批准新增600 亿美元的无期限回购授权。FY2026 全年共回购 2.82 亿股，耗资 404 亿美元。
share repurchase authorization（回购授权限度）、Board of Directors（董事会）、common stock（普通股）、without expiration（长期授权、无到期日）——四个词组在 BEC “公司治理”题型中高频且得分点。以下词汇均直接出自英伟达 10-K 财报原文，是 BEC 阅读和写作的核心考验点。学了这么多原文，一定要内化成写作输出。以下三个模板，直接拿来用：“Revenue for [period] was [amount], up [X]% from a year ago, driven primarily by [key factor].”……期间营收达……，同比增长……%，主要由……驱动。“The [risk factor] has led and could lead to [adverse outcome], which may have a material adverse impact on our business, operating results, and financial condition.”……风险已导致并可能继续导致……，这可能对公司业务、经营成果及财务状况产生重大不利影响。“Our strategy is to [action], bringing together [resources], in order to create [value] for [target market].”我们的战略是……，整合……，以为……目标市场创造……价值。英文财报的语言不是象牙塔，而是与 BEC 的考题用语高度重叠。建议熟读本文精选的词汇与句型。并逐步把这种“看真实文件学英语”的方法应用到备考中 ，语感与词汇水到渠成自然提升。
