{"id":732021,"date":"2026-02-27T10:03:37","date_gmt":"2026-02-27T02:03:37","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=732021"},"modified":"2026-02-27T10:03:37","modified_gmt":"2026-02-27T02:03:37","slug":"%e7%91%9e%e5%b9%b8%ef%bc%9a%e5%a4%96%e5%8d%96%e5%a4%a7%e6%88%98-%e7%bb%91%e6%9e%b6-%e4%ba%86%e5%92%96%e5%95%a1%e4%b8%80%e5%93%a5%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=732021","title":{"rendered":"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f"},"content":{"rendered":"<blockquote>\n<p>\u6587 | \u6d77\u8c5a\u7814\u7a76<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%91%9e%e5%b9%b8\" title=\"View all posts in \u745e\u5e78\" target=\"_blank\" class=\"tag_link\">\u745e\u5e78<\/a>\u5496\u5561\uff08LKNCY\uff09\u4e8e\u5317\u4eac\u65f6\u95f4 2026 \u5e74 2 \u6708 26 \u65e5\u4e0b\u5348\u7f8e\u80a1\u76d8\u524d\u53d1\u5e03\u4e86 2025 \u5e74\u7b2c\u56db\u5b63\u5ea6\u8d22\u62a5\uff08\u622a\u6b62 2025 \u5e74 12 \u6708\uff09\uff0c\u6574\u4f53\u4e0a\uff0c<strong>\u56db\u5b63\u5ea6\u5728<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%a4%96%e5%8d%96\" title=\"View all posts in \u5916\u5356\" target=\"_blank\" class=\"tag_link\">\u5916\u5356<\/a>\u8865\u8d34\u529b\u5ea6\u51cf\u5f31\u53e0\u52a0\u745e\u5e78\u81ea\u8eab\u8865\u8d34\u6536\u7f29\u7684\u80cc\u666f\u4e0b\uff0c\u6536\u5165\u7aef\u660e\u663e\u653e\u7f13\uff0c\u800c &ldquo;\u5916\u5356\u5927\u6218&rdquo; \u5bfc\u81f4\u914d\u9001\u8d39\u7528\u98d9\u5347\u7684\u5f71\u54cd\u5728\u56db\u5b63\u5ea6\u5bf9\u5229\u6da6\u7684\u4fb5\u8680\u7a0b\u5ea6\u4ecd\u7136\u4e0d\u5c0f\uff0c\u6574\u4f53\u8868\u73b0\u4f4e\u4e8e\u5e02\u573a\u9884\u671f\u3002<\/strong><\/p>\n<p><strong>1\u3001\u5f00\u5e97\u8282\u594f\u6709\u6240\u653e\u7f13\u3002<\/strong>\u745e\u5e78 Q4 \u51c0\u65b0\u589e 1834 \u5bb6\u95e8\u5e97\uff0c\u589e\u901f\u73af\u6bd4\u6709\u6240\u653e\u7f13\uff0c<strong>\u6d77\u8c5a\u541b\u63a8\u6d4b\u6838\u5fc3\u539f\u56e0\u5728\u4e8e\uff0c\u7531\u4e8e &ldquo;\u5916\u5356\u5927\u6218&rdquo; \u5e26\u6765\u7684\u95e8\u5e97\u5c65\u7ea6\u8d39\u7528\u7684\u98d9\u5347\uff0c\u95e8\u5e97\u7ecf\u8425\u5229\u6da6\u7387\u4e0b\u6ed1\uff0c\u516c\u53f8\u4e3b\u52a8\u653e\u7f13\u4e86\u5f00\u5e97\u8282\u594f\u4ee5\u4f18\u5148\u4fdd\u969c\u5355\u5e97\u76c8\u5229\u8d28\u91cf\u3002<\/strong>\u4f46\u53e6\u4e00\u65b9\u9762\uff0c\u503c\u5f97\u6ce8\u610f\u7684\u662f\u745e\u5e78\u5728\u4e1c\u5357\u4e9a\uff08\u65b0\u52a0\u5761\u3001\u9a6c\u6765\u897f\u4e9a\uff09\u7684\u5f00\u5e97\u901f\u5ea6\u6709\u6240\u63d0\u5347\u3002<\/p>\n<p><strong>2\u3001\u540c\u5e97\u8425\u4e1a\u989d\u589e\u901f\u4e0b\u964d\u660e\u663e\u3002<\/strong>\u4f5c\u4e3a\u5254\u9664\u65b0\u5e97\u5f71\u54cd\u540e\u4f53\u73b0\u745e\u5e78\u5355\u5e97\u5185\u751f\u589e\u957f\u7684\u6838\u5fc3\u6307\u6807<strong>\u540c\u5e97\u8425\u4e1a\u989d\u589e\u901f\uff08SSSG\uff09\u540c\u6bd4\u589e\u957f 1.2%\uff0c<\/strong>\u7531\u4e8e\u56db\u5b63\u5ea6\u745e\u5e78\u6536\u7f29\u4e86\u8865\u8d34\u529b\u5ea6\uff0c\u8fdb\u884c\u4e86\u7ed3\u6784\u6027\u63d0\u4ef7\uff0c\u4f46<strong>\u4ece\u6700\u7ec8\u5b9e\u9645\u7684\u540c\u5e97\u8868\u73b0\u4e0a\u770b\u8bf4\u660e\u63d0\u4ef7\u96be\u5ea6\u8f83\u5927<\/strong>\uff0c<strong>\u6d88\u8d39\u8005\u6574\u4f53\u7684\u4ef7\u683c\u654f\u611f\u5ea6\u8f83\u9ad8\u5bfc\u81f4\u676f\u91cf\u4e0d\u53ca\u9884\u671f\u3002<\/strong><\/p>\n<p><strong>3\u3001\u6708\u6d3b\u8dc3\u4ed8\u8d39<span>\u7528\u6237\u6570<\/span>\u73af\u6bd4\u653e\u7f13\u3002<\/strong>Q4 \u745e\u5e78\u6708\u6d3b\u8dc3\u4ed8\u8d39\u7528\u6237\u6570\u540c\u6bd4\u63d0\u5347 27%\uff0c\u73af\u6bd4 2\u30013 \u5b63\u5ea6\u660e\u663e\u653e\u7f13\uff0c<strong>\u6d77\u8c5a\u541b\u8ba4\u4e3a\u80cc\u540e\u53cd\u5e94\u7684\u662f\u5916\u5356\u7528\u6237\u7684\u79c1\u57df\u8f6c\u5316\u7559\u5b58\u7387\u5e76\u4e0d\u9ad8\uff0c\u8865\u8d34\u51cf\u5c11\u540e\u590d\u8d2d\u610f\u613f\u5927\u5e45\u4e0b\u964d\u3002<\/strong><\/p>\n<p><strong>4\u3001\u5c65\u7ea6\u6210\u672c\u7ef4\u6301\u9ad8\u4f4d\uff0c\u4fb5\u8680\u5229\u6da6\u3002<\/strong>Q4 \u745e\u5e78\u6bdb\u5229\u7387\u57fa\u672c\u4fdd\u6301\u5e73\u7a33\uff0c\u5bf9\u8d39\u7528\u7aef\u62c6\u5206\u770b\uff0c<strong>\u6700\u5927\u7684\u95ee\u9898\u8fd8\u662f\u5728\u4e8e\u8ba2\u5355\u5916\u5356\u5360\u6bd4\u9ad8\uff0c\u5bfc\u81f4\u914d\u9001\u8d39\u7528\u7387\u4ecd\u7136\u7ef4\u6301\u9ad8\u4f4d\uff0c\u8fbe\u5230 13%\uff08\u6b63\u5e38\u60c5\u51b5\u5728 7%-9% \u4e4b\u95f4\uff09\uff0c\u4fb5\u8680\u4e86\u5229\u6da6<\/strong>\uff0c\u6700\u7ec8\u5b9e\u73b0 Non-GAAP \u4e0b\u7ecf\u8425\u5229\u6da6 9.6 \u4ebf\u5143\uff0c\u540c\u6bd4\u4e0b\u6ed1 13%\u3002<\/p>\n<p><strong>\u6838\u5fc3<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%b8%9a%e7%bb%a9\" title=\"View all posts in \u4e1a\u7ee9\" target=\"_blank\" class=\"tag_link\">\u4e1a\u7ee9<\/a>\u6307\u6807\u4e00\u89c8\uff1a<\/strong><\/p>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/52fe2491b501e62b585e88491399c5d0_1772157614.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x383\/gravity\/center\/crop\/!1440x383&ext=.jpeg\" width=\"1517\" height=\"404\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<p><strong>\u6d77\u8c5a\u541b\u6574\u4f53\u89c2\u70b9\uff1a<\/strong><\/p>\n<p>Q4 \u745e\u5e78\u6574\u4f53\u7684\u4e1a\u7ee9\u548c Q3 \u672c\u8d28\u5b9e\u9645\u4e0a\u76f8\u4f3c\uff0c\u90fd\u662f\u5904\u4e8e\u8425\u6536\u589e\u957f\u3001\u5229\u6da6\u627f\u538b\u7684\u72b6\u6001\u3002<strong>\u5e02\u573a\u671f\u5f85\u7684\u5267\u672c\u5728\u4e8e\u4f34\u968f\u5916\u5356\u5927\u6218\u8865\u8d34\u7684\u9010\u6b65\u9000\u5761\uff0c\u5728\u540c\u5e97\u589e\u901f\u4e0d\u5927\u5e45\u653e\u7f13\u7684\u540c\u65f6\uff0c\u81ea\u63d0\u5360\u6bd4\u7684\u63d0\u5347\u5e26\u52a8\u5229\u6da6\u7387\u7a33\u6b65\u4fee\u590d\uff0c\u4f46\u663e\u7136\u8fd9\u4e00\u8fdb\u5ea6\u6ca1\u6709\u5e02\u573a\u60f3\u8c61\u90a3\u4e48\u5feb\u3002<\/strong><\/p>\n<p>\u5bf9\u4e8e &ldquo;\u5916\u5356\u5927\u6218&rdquo;\uff0c\u867d\u7136\u5e02\u573a\u76d1\u7ba1\u4e5f\u591a\u6b21\u4ecb\u5165\uff0c\u4f46\u4ece\u7ed3\u679c\u770b\u8865\u8d34\u7684\u6536\u655b\u529b\u5ea6\u5728\u56db\u5b63\u5ea6\u5e76\u4e0d\u5927\uff0c\u867d\u7136\u8f83 7\uff0c8 \u6708\u4efd\u7684\u9ad8\u5cf0\u671f\u663e\u8457\u56de\u843d\uff0c\u4f46\u8fdc\u6ca1\u6709\u5230\u5916\u5356\u5927\u6218\u4e4b\u524d\u7684\u6bd4\u4f8b\uff0c\u7ed3\u5408\u8c03\u7814\u4fe1\u606f\uff0c<strong>Q4 \u7684\u8865\u8d34\u529b\u5ea6\u57fa\u672c\u548c 5\uff0c6 \u6708\u4efd\u7684\u6c34\u5e73\u76f8\u5f53\u3002<\/strong><\/p>\n<p>\u65e0\u8bba\u662f\u5e73\u53f0\u4f63\u91d1\u8fd8\u662f\u914d\u9001\u8d39\uff0c\u90fd\u62c9\u4f4e\u4e86\u745e\u5e78\u81ea\u8eab\u7684\u5229\u6da6\uff0c\u672c\u8d28\u4e0a\u662f\u56e0\u4e3a\u51b2\u51fb\u5230\u4e86\u745e\u5e78\u6784\u5efa\u7684\u4ee5\u81ea\u63d0\u4e3a\u6838\u5fc3\u7684\u6781\u4f4e\u6e20\u9053\u6210\u672c\u6a21\u578b\uff0c\u628a\u745e\u5e78\u62c9\u5165\u5230\u4e86\u5916\u5356\u9ad8\u6210\u672c\u6a21\u578b\uff0c\u56e0\u6b64\uff0c\u8fd9\u4e5f\u662f Q4 \u745e\u5e78\u62fc\u547d\u6536\u7f29\u8865\u8d34\u60f3\u8981\u4fdd\u5229\u6da6\u7684\u5173\u952e\u539f\u56e0\uff1a<\/p>\n<p><strong>a\u3001\u4f4e\u4ef7\u8303\u56f4\u505a\u51cf\u6cd5<\/strong>\uff1a<\/p>\n<p>\u4e00\u65b9\u9762\uff0c<strong>\u745e\u5e78\u628a 9.9 \u7684\u4ea7\u54c1\u8303\u56f4\u4ece\u4e09\u5b63\u5ea6 8-10 \u6b3e\u8fdb\u4e00\u6b65\u7f29\u51cf\u81f3 2 \u6b3e\uff08\u4ec5\u9650\u7f8e\u5f0f\u3001\u62ff\u94c1\u7684\u57fa\u7840\u6b3e\uff09\uff0c\u53e6\u4e00\u65b9\u9762\uff0c\u4e5f\u660e\u663e\u51cf\u5c11\u4e86 &ldquo;\u4e70\u4e8c\u9001\u4e00&rdquo;\u3001\u5927\u989d\u4f18\u60e0\u5238\u7684\u9891\u6b21\uff0c\u7b2c\u4e09\u65b9\u5e73\u53f0\u62fc\u597d\u996d\u3001\u7206\u54c1\u56e2\u7b49\u6b64\u524d\u6700\u4f18\u60e0\u7684\u6e20\u9053\u4ef7\u683c\u4f18\u60e0\u6bd4\u4f8b\u4e5f\u660e\u663e\u6536\u7f29\u3002<\/strong><\/p>\n<p>b\u3001<strong>\u4ea7\u54c1\u7ed3\u6784\u505a\u52a0\u6cd5\uff1a<\/strong><\/p>\n<p><strong>\u5bf9\u4e8e\u6838\u5fc3\u7684\u4ea7\u54c1\uff08\u751f\u6930\u3001\u4e1d\u7ed2\u62ff\u94c1\u7b49\uff09\uff0c\u867d\u7136\u745e\u5e78\u6ca1\u6709\u76f4\u63a5\u63d0\u4ef7\uff0c\u4f46\u901a\u8fc7\u589e\u52a0 &ldquo;\u8d85\u5927\u676f&rdquo;\u3001&ldquo;\u52a0\u6d53\u7f29&rdquo; \u7b49\u589e\u503c\u9009\u9879\u95f4\u63a5\u589e\u539a\u4e86\u5355\u676f\u6f5c\u5728\u7684\u76c8\u5229\u7a7a\u95f4<\/strong>\uff0c\u6b64\u5916\uff0c\u5c0f\u9ec4\u4eba\u8054\u540d\u3001\u51ac\u81f3\u4e94\u517b\u62ff\u94c1\u7b49\u7206\u6b3e\u65b0\u54c1\u7684\u5b9a\u4ef7\u8f83\u57fa\u7840\u6b3e\u660e\u663e\u63d0\u5347\uff08\u9ad8 30%-50%\uff09<\/p>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/c0747de39de1810156198851c668d09c_1772157614.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x1552\/gravity\/center\/crop\/!1440x1552&ext=.jpeg\" width=\"703\" height=\"758\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<p><strong>\u7ed3\u5408 a&amp;b\uff0c\u745e\u5e78\u65e2\u53ef\u4ee5\u7528\u6700\u4f4e\u7684\u6210\u672c\u7ef4\u6301\u81ea\u8eab\u7684 &ldquo;\u5e73\u4ef7&rdquo; \u6807\u7b7e\uff0c\u907f\u514d\u88ab\u5e78\u8fd0\u5496\u7b49\u8d85\u4f4e\u4ef7\u54c1\u724c\u5206\u6d41\uff0c\u5728\u5b88\u4f4f\u4ef7\u683c\u654f\u611f\u578b\u57fa\u672c\u76d8\u7684\u540c\u65f6\u901a\u8fc7\u5dee\u5f02\u5316\u5b9a\u4ef7\u6700\u5927\u5316\u76c8\u5229\u5f39\u6027\uff0c\u7ef4\u6301\u81ea\u8eab\u7684\u5229\u6da6\u7387\u3002<\/strong><\/p>\n<p>\u867d\u7136\u51cf\u5c11\u4e86\u7528\u6237\u7aef\u7684\u8865\u8d34\uff0c\u53e6\u4e00\u4e2a\u503c\u5f97\u6ce8\u610f\u7684\u52a8\u4f5c\u5728\u4e8e<strong>Q4 \u745e\u5e78\u52a0\u5927\u4e86\u5bf9\u52a0\u76df\u95e8\u5e97\uff08\u5c24\u5176\u662f\u676f\u91cf\u504f\u4f4e\uff09\u7684\u8865\u8d34<\/strong>\uff0c\u6d77\u8c5a\u541b\u8ba4\u4e3a\uff0c\u8fd9\u91cc\u4e00\u65b9\u9762\u662f\u7531\u4e8e 2025 \u5e74\u745e\u5e78\u7ecf\u5386\u4e86\u5728\u4e0b\u6c89\u5e02\u573a\u5927\u89c4\u6a21\u5f00\u8bbe\u52a0\u76df\u95e8\u5e97\u62a2\u5360\u5e02\u573a\uff0c\u800c\u8fd9\u4e9b\u52a0\u76df\u5546\u5373\u5c06\u8fce\u6765\u7b2c\u4e00\u4e2a\u6de1\u5b63\uff08\u4e00\u5b63\u5ea6\uff09\uff0c\u53ef\u4ee5\u5e2e\u52a0\u76df\u5546\u5e73\u7a33\u8fc7\u6e21\uff0c\u53e6\u5916\uff0c<strong>\u4e5f\u53cd\u6620\u51fa\u5c3d\u7ba1\u745e\u5e78\u5f53\u524d\u8fc8\u5165\u4e86 3 \u4e07\u5bb6\u4ff1\u4e50\u90e8\uff0c\u516c\u53f8\u4ecd\u7136\u8ba4\u4e3a\u901a\u8fc7\u52a0\u76df\u95e8\u5e97\u5728\u4e0b\u6c89\u5730\u533a\u62a2\u5360\u5e02\u573a\u7684\u5fc5\u8981\u6027\u3002<\/strong><\/p>\n<p>\u5c55\u671b 2026 \u5e74\uff0c\u867d\u7136 Q4 \u745e\u5e78\u9636\u6bb5\u6027\u653e\u7f13\u4e86\u5f00\u5e97\u8282\u594f\uff0c\u4f46\u53ef\u4ee5\u80af\u5b9a\u7684\u662f\uff0c<strong>\u5728\u56fd\u5185\u5496\u5561\u6e17\u900f\u7387\u4ecd\u5728\u63d0\u5347\u7684\u9636\u6bb5\uff0c\u5934\u90e8\u54c1\u724c\u7684\u5f00\u5e97\u901f\u5ea6\u5e76\u4e0d\u4f1a\u653e\u7f13\uff0c\u6269\u5927\u4efd\u989d\u4ecd\u7136\u662f\u4e3b\u57fa\u8c03<\/strong>\uff0c<strong>\u53ea\u4e0d\u8fc7\u4e0d\u662f\u4ee5\u4ef7\u683c\u6218\u7684\u65b9\u5f0f\uff0c\u66f4\u591a\u6bd4\u62fc\u7684\u662f\u7cbe\u7ec6\u5316\u8fd0\u8425\u80fd\u529b\u3002<\/strong><\/p>\n<p>\u4ee5\u4e0b\u4e3a\u8be6\u7ec6\u5206\u6790\uff1a<\/p>\n<h3><strong>\u4e00\u3001<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%8a%95%e8%b5%84\" title=\"View all posts in \u6295\u8d44\" target=\"_blank\" class=\"tag_link\">\u6295\u8d44<\/a>\u903b\u8f91\u6846\u67b6\u68b3\u7406<\/strong><\/h3>\n<p>\u6839\u636e\u745e\u5e78\u5496\u5561\u62ab\u9732\u53e3\u5f84\uff0c\u516c\u53f8\u5206\u4e3a\u81ea\u8425\u4e1a\u52a1\u3001\u52a0\u76df\u4e1a\u52a1\u4e24\u5927\u4e1a\u52a1\u6761\u7ebf\u3002<\/p>\n<p>1\uff09\u5176\u4e2d\u81ea\u8425\u4e1a\u52a1\u662f\u745e\u5e78\u5496\u5561\u76f4\u8425\u95e8\u5e97\u6240\u5e26\u6765\u7684\u6536\u5165\uff0c\u5f53\u524d\u76f4\u8425\u95e8\u5e97\u7a81\u7834 20000 \u5bb6\uff0c\u95e8\u5e97\u4ee5\u4e00\u4e8c\u7ebf\u57ce\u5e02\u4e3a\u4e3b\uff0c\u5bf9\u745e\u5e78\u5496\u5561\u6253\u9020\u54c1\u724c\u5f62\u8c61\u5177\u6709\u91cd\u5927\u610f\u4e49\u3002<strong>\u81ea\u8425\u4e1a\u52a1\u662f\u516c\u53f8\u5229\u6da6\u7684\u57fa\u672c\u76d8\uff0c\u5229\u6da6\u5360\u6bd4\u8d85 80%\u3002<\/strong><\/p>\n<p>2\uff09\u52a0\u76df\u4e1a\u52a1\u7684\u8425\u6536\u5305\u542b\uff1a\u9500\u552e\u7ed9\u52a0\u76df\u5546\u7684\u539f\u6750\u6599\uff08\u5496\u5561\u8c46\u3001\u725b\u5976\u3001\u6930\u6d46\uff09\u3001\u52a0\u76df\u5e97\u7684\u5229\u6da6\u62bd\u6210\uff08\u6839\u636e\u4e0d\u540c\u95e8\u5e97\u6bdb\u5229\u60c5\u51b5\u6309\u9636\u68af\u5236\u5ea6\u62bd\u6210\uff09\u3001\u8bbe\u5907\u9500\u552e\u3001\u9001\u8d27\u670d\u52a1\u548c\u5176\u4ed6\u670d\u52a1\u4e94\u90e8\u5206\uff0c\u5176\u4e2d\u539f\u6750\u6599\u9500\u552e\u5360\u6bd4\u8fd1 70%\uff0c\u662f\u52a0\u76df\u4e1a\u52a1\u7684\u6838\u5fc3\u8425\u6536\u6765\u6e90\u3002\u5f53\u524d\u52a0\u76df\u95e8\u5e97\u8d85 10000 \u5bb6\uff0c\u8425\u6536\u5360\u6bd4 20% \u5de6\u53f3\uff0c\u4e3b\u653b\u4e09\u56db\u7ebf\u7b49\u4e0b\u6c89\u5e02\u573a\uff0c\u65e8\u5728\u62a2\u5360\u4e0b\u6c89\u5e02\u573a\u4f18\u8d28\u70b9\u4f4d\uff0c\u867d\u7136\u5f53\u524d\u52a0\u76df\u95e8\u5e97\u5f00\u5e97\u901f\u5ea6\u66f4\u5feb\uff0c\u4f46\u4f46\u76c8\u5229\u80fd\u529b\u4e0d\u5982\u81ea\u8425\u95e8\u5e97\u3002<\/p>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/c67c21e3cb80724eb6ff3d7ebc1eb78e_1772157615.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x629\/gravity\/center\/crop\/!1440x629&ext=.jpeg\" width=\"1481\" height=\"647\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<h3><strong>\u4e8c\u3001\u5f00\u5e97\u8282\u594f\u6709\u6240\u653e\u7f13<\/strong><\/h3>\n<p>\u5f00\u5e97\u6570\u91cf\u4e0a\uff0c\u745e\u5e78 25Q4 \u73af\u6bd4\u51c0\u65b0\u589e 1834 \u5bb6\u95e8\u5e97\uff0c\u6574\u4f53\u95e8\u5e97\u6570\u91cf\u8fbe\u5230 31048 \u5bb6\uff0c<strong>\u5f00\u5e97\u901f\u5ea6\u76f8\u8f83\u4e8e Q3 \u660e\u663e\u653e\u7f13\uff0c\u4f46\u4ecd\u7136\u5b8c\u6210\u4e86\u5168\u5e74 8000 \u5bb6\u5e97\u7684\u5f00\u5e97\u76ee\u6807<\/strong>\u3002<\/p>\n<p>\u6b64\u5916\uff0c\u4ece\u6d77\u5916\u7684\u8fdb\u5c55\u6765\u770b\uff0c<strong>\u4e1c\u5357\u4e9a\u5730\u533a\u4ecd\u7136\u662f\u745e\u5e78\u5728\u6d77\u5916\u5e02\u573a\u6269\u5f20\u7684\u4e3b\u529b\u9635\u5730<\/strong>\uff0c\u5176\u4e2d\uff0c<strong>\u65b0\u52a0\u5761\u91c7\u7528 100% \u76f4\u8425\uff0c\u590d\u5236\u56fd\u5185\u6210\u719f\u7684 \"\u5feb\u53d6 + \u60a0\u4eab\" \u53cc\u5e97\u578b<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%ad%96%e7%95%a5\" title=\"View all posts in \u7b56\u7565\" target=\"_blank\" class=\"tag_link\">\u7b56\u7565<\/a>\uff0c\u4f18\u5148\u5e03\u5c40\u4e2d\u592e\u5546\u52a1\u533a (CBD)\u3001\u9ad8\u6821\u5468\u8fb9\u3001\u4ea4\u901a\u67a2\u7ebd\u4e09\u5927\u9ad8\u6d41\u91cf\u573a\u666f<\/strong>\uff0c<strong>\u622a\u81f3 25Q4\uff0c\u745e\u5e78\u5728\u65b0\u52a0\u5761\u5df2\u5f00\u51fa 81 \u5bb6\u95e8\u5e97\uff0c\u76ee\u524d\u5df2\u6574\u4f53\u5b9e\u73b0\u76c8\u5229\uff0c\u662f\u745e\u5e78\u6d77\u5916\u7684\u6807\u6746\u5e02\u573a\u3002<\/strong><\/p>\n<p><strong>\u9a6c\u6765\u897f\u4e9a\u5219\u91c7\u7528\u52a0\u76df\u6a21\u5f0f<\/strong>\uff0c\u4e0e\u5f53\u5730\u62e5\u6709\u5927\u91cf\u5546\u4e1a<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%9c%b0%e4%ba%a7\" title=\"View all posts in \u5730\u4ea7\" target=\"_blank\" class=\"tag_link\">\u5730\u4ea7<\/a><a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%b5%84%e6%ba%90\" title=\"View all posts in \u8d44\u6e90\" target=\"_blank\" class=\"tag_link\">\u8d44\u6e90<\/a>\u7684\u8d22\u56e2&mdash;&mdash;\u5927\u8d44\u5de5\u4e1a\u65d7\u4e0b\u7684\u5b50\u516c\u53f8 GASB \u7b7e\u7f72 10 \u5e74\u671f\u7684\u72ec\u5bb6\u7279\u8bb8\u7ecf\u8425\u534f\u8bae\uff08GASB \u8d1f\u8d23\u9a6c\u6765\u897f\u4e9a\u5e02\u573a\u5168\u94fe\u6761\u8fd0\u8425\uff0c\u745e\u5e78\u63d0\u4f9b\u54c1\u724c\u6388\u6743\u3001\u6570\u5b57\u5316\u7cfb\u7edf\u3001\u4f9b\u5e94\u94fe\u652f\u6301\u3001\u4ea7\u54c1\u6807\u51c6\u4e0e\u57f9\u8bad\u4f53\u7cfb\uff09\u3002<strong>\u76ee\u524d\u95e8\u5e97\u4e3b\u8981\u96c6\u4e2d\u5728\u5409\u9686\u5761\u3001\u69df\u57ce\u7b49\u6838\u5fc3\u57ce\u5e02\uff0c\u91c7\u7528 100% \u5feb\u53d6\u5e97\u6a21\u5f0f<\/strong>\uff0c\u622a\u81f3 25Q4 \u5171 70 \u5bb6\u95e8\u5e97\uff0c\u9a8c\u8bc1\u4e86\u52a0\u76df\u6a21\u5f0f\u5728\u4e1c\u5357\u4e9a\u7684\u53ef\u884c\u6027\uff0c\u4e3a\u540e\u7eed\u8fdb\u4e00\u6b65\u5411\u5370\u5c3c\u3001\u6cf0\u56fd\u7b49\u5e02\u573a\u8f93\u51fa\u94fa\u57ab\u3002<\/p>\n<p>\u5317\u7f8e\u5730\u533a\u5728\u9762\u4e34\u9ad8\u79df\u91d1\u53e0\u52a0\u4f4e\u54c1\u724c\u8ba4\u77e5\u5ea6\u7684\u60c5\u51b5\u4e0b\uff0c\u76ee\u524d\u4ecd\u5904\u4e8e\u5355\u70b9\u6a21\u578b\u6253\u78e8\u9636\u6bb5\u3002<\/p>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/389dc025a45ee2bc4926b34868bfbad9_1772157615.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x739\/gravity\/center\/crop\/!1440x739&ext=.jpeg\" width=\"1127\" height=\"579\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/e633d0ee9a8321f37d185c6b75ed8ac4_1772157615.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x697\/gravity\/center\/crop\/!1440x697&ext=.jpeg\" width=\"1099\" height=\"532\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<p>\u4f5c\u4e3a\u5254\u9664\u65b0\u5e97\u5f71\u54cd\u540e\u4f53\u73b0\u745e\u5e78\u5355\u5e97\u5185\u751f\u589e\u957f\u7684\u6838\u5fc3\u6307\u6807<strong>\u540c\u5e97\u8425\u4e1a\u989d\u589e\u901f\uff08SSSG\uff09\u540c\u6bd4\u63d0\u5347 1.2%\uff0c\u73af\u6bd4\u4e09\u5b63\u5ea6\u660e\u663e\u4e0b\u6ed1\uff0c\u62c6\u5206\u6765\u770b\uff1a<\/strong><\/p>\n<p><strong>\u676f\u5355\u4ef7\u4e0a<\/strong>\uff0c\u4e00\u65b9\u9762 Q4 \u968f\u7740 9.9 \u57fa\u7840\u6b3e\u8865\u8d34\u7684\u6301\u7eed\u51cf\u5c11\uff08\u76ee\u524d\u4ec5\u4fdd\u7559\u4e86\u7f8e\u5f0f\uff0c\u751f\u6930\u62ff\u94c1\u7b49\u5c11\u6570\u4ea7\u54c1\uff09\uff0c<strong>\u745e\u5e78\u7684\u591a\u6570\u4ea7\u54c1\u4ef7\u683c\u56de\u5347\u81f3 10.9-13.9 \u5143\u533a\u95f4<\/strong>\uff0c\u53e6\u4e00\u65b9\u9762\uff0c\u7ed3\u5408\u8c03\u7814\u4fe1\u606f\uff0c<strong>\u7531\u4e8e\u745e\u5e78\u4f1a\u5458\u4f53\u7cfb\u7684\u5347\u7ea7\u4ee5\u53ca\u81ea\u6709\u6e20\u9053\u4f18\u60e0\u529b\u5ea6\u7684\u63d0\u5347\uff0c\u53e0\u52a0 Q3 \u4e0a\u7ebf\u7684 Lucky AI 1.0 \u667a\u80fd\u4f53\u7684\u7cbe\u51c6\u63a8\u9001\uff0cQ4 \u745e\u5e78\u7684\u4ed8\u8d39\u4f1a\u5458\u6bd4\u4f8b\u4ecd\u5728\u6301\u7eed\u62c9\u9ad8\uff0c\u8fbe\u5230 28%-30%\uff08\u73af\u6bd4 Q3 \u63d0\u5347 3pct\uff09\uff0c\u7531\u4e8e\u4ed8\u8d39\u4f1a\u5458\u5ba2\u5355\u4ef7\u6bd4\u666e\u901a\u7528\u6237\u9ad8 30%-40%\uff0c\u4e5f\u5e26\u52a8\u4e86\u676f\u5355\u4ef7\u7684\u63d0\u5347\u3002<\/strong><\/p>\n<p><strong>\u676f\u91cf\u4e0a\uff0c<\/strong>\u7531\u4e8e\u56db\u5b63\u5ea6\u745e\u5e78\u4e3b\u52a8\u6536\u7f29\u4e86\u8865\u8d34\u529b\u5ea6\uff0c\u8fdb\u884c\u4e86\u7ed3\u6784\u6027\u63d0\u4ef7\uff0c<strong>\u4ece\u6700\u7ec8\u5b9e\u9645\u7684\u540c\u5e97\u8868\u73b0\u4e0a\u770b\u8bf4\u660e\u63d0\u4ef7\u96be\u5ea6\u8f83\u5927<\/strong>\uff0c<strong>\u6d88\u8d39\u8005\u6574\u4f53\u7684\u4ef7\u683c\u654f\u611f\u5ea6\u8f83\u9ad8\u5bfc\u81f4\u676f\u91cf\u4e0d\u53ca\u9884\u671f\u3002<\/strong><\/p>\n<p>\u6b64\u5916\uff0c\u4ea7\u54c1\u7aef\uff0cQ4 \u745e\u5e78\u63a8\u51fa\u4e86 20 \u6b3e\u65b0\u54c1\uff0c\u63a8\u65b0\u9891\u7387\u8f83\u53bb\u5e74\u540c\u671f\u6709\u6240\u63d0\u5347\u3002<strong>\u5bf9\u4e8e\u5496\u5561\u54c1\u7c7b<\/strong>\uff0c<strong>\u745e\u5e78\u9488\u5bf9\u91cd\u5ea6\u5496\u5561\u6d88\u8d39\u7fa4\u4f53\u63a8\u51fa\u4e86\u6218\u7565\u65b0\u54c1\u6851\u5df4\u6df1\u70d8\u7cfb\u5217\uff0c\u5e94\u5bf9\u6d88\u8d39\u8005\u5bf9\u5496\u5561\u98ce\u5473\u66f4\u6d53\u90c1\u7684\u9700\u6c42<\/strong>\uff0c\u7ed3\u5408\u8c03\u7814\u4fe1\u606f\uff0c<strong>\u6df1\u70d8 + \u51ac\u5b63\u517b\u751f\u9650\u5b9a\u7cfb\u5217\uff08\u4e94\u517b\u62ff\u94c1\uff09\u8d21\u732e\u4e86\u5496\u5561\u7c7b\u676f\u91cf\u589e\u957f\u7684 35%-40%\u3002<\/strong><\/p>\n<p><strong>\u5bf9\u4e8e\u975e\u5496\u54c1\u7c7b<\/strong>\uff0c\u9664\u4e86\u5bf9\u539f\u6709\u7684\u679c\u852c\u3001\u8f7b\u4e73\u8336\u8fdb\u884c\u4e86\u5347\u7ea7\u5916\uff0c\u745e\u5e78\u52a0\u5927\u4e86 IP \u8054\u540d\u6b3e\u7684\u63a8\u65b0\uff08\u738b\u8005\u8363\u8000&amp;\u5c0f\u9ec4\u4eba\uff09\uff0c\u5438\u5f15\u4e86\u975e\u5496\u5561\u7528\u6237\u8f6c\u5316\u3002<\/p>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/1ff1261aec8a465b39b5c82e7cdc49c4_1772157615.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x726\/gravity\/center\/crop\/!1440x726&ext=.jpeg\" width=\"1050\" height=\"530\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<p><strong>\u6708\u6d3b\u8dc3\u4ed8\u8d39\u7528\u6237\u6570\u589e\u901f\u653e\u7f13\u3002<\/strong>Q4 \u745e\u5e78\u6708\u6d3b\u8dc3\u4ed8\u8d39\u7528\u6237\u6570\u4e3a 9800 \u4e07\uff0c\u540c\u6bd4\u63d0\u5347 27%\uff0c\u73af\u6bd4 2\u30013 \u5b63\u5ea6\u660e\u663e\u653e\u7f13\uff0c<strong>\u7531\u4e8e\u5916\u5356\u5927\u6218\u671f\u95f4\uff0c\u5e73\u53f0\u9ad8\u989d\u8865\u8d34\u5438\u5f15\u4e86\u5927\u91cf\u4ef7\u683c\u654f\u611f\u578b\u7528\u6237\uff0c\u8865\u8d34\u9000\u6f6e\u540e\uff0c\u8fd9\u90e8\u5206\u7528\u6237\u6d3b\u8dc3\u5ea6\u9aa4\u964d\uff0c\u62c9\u4f4e\u6574\u4f53\u7528\u6237\u589e\u901f\uff0c\u8bf4\u660e\u5916\u5356\u7528\u6237\u7684\u79c1\u57df\u8f6c\u5316\u7559\u5b58\u7387\u5e76\u4e0d\u7b97\u9ad8\u3002<\/strong><\/p>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/07bf8b13f52978675b2f8ac94df7356c_1772157616.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x769\/gravity\/center\/crop\/!1440x769&ext=.jpeg\" width=\"1140\" height=\"609\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<ul>\n<li><strong>\u5c65\u7ea6\u6210\u672c\u7ef4\u6301\u9ad8\u4f4d\uff0c\u4fb5\u8680\u5229\u6da6<\/strong><\/li>\n<\/ul>\n<\/figure>\n<p>Q4 \u745e\u5e78\u5b9e\u73b0\u603b\u8425\u6536 127.8 \u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f 32.9%\uff0c\u4e0d\u53ca\u9884\u671f\u3002\u62c6\u5206\u4e1a\u52a1\u6765\u770b\uff0c\u81ea\u8425\u95e8\u5e97\u5b9e\u73b0\u8425\u6536 99 \u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f 31.2%\uff0c\u52a0\u76df\u4e1a\u52a1\u6536\u5165 28.5 \u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f 39.3%\uff0c<strong>\u589e\u901f\u5feb\u4e8e\u81ea\u8425\u95e8\u5e97\u7684\u589e\u957f\uff0c\u6838\u5fc3\u8fd8\u662f\u5728\u4e8e 2025 \u5e74\u745e\u5e78\u7cfb\u7edf\u6027\u964d\u4f4e\u4e86\u52a0\u76df\u95e8\u69db\uff0c\u901a\u8fc7\u52a0\u76df\u6a21\u5f0f\u52a0\u901f\u4e0b\u6c89\u62a2\u5360\u70b9\u4f4d\u3002<\/strong><\/p>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/1abdd02e25d21bfad45d2995a54bf819_1772157616.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x719\/gravity\/center\/crop\/!1440x719&ext=.jpeg\" width=\"1107\" height=\"553\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/904866b2aead05f2d259b3c0c3fe2d1f_1772157616.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x809\/gravity\/center\/crop\/!1440x809&ext=.jpeg\" width=\"1034\" height=\"581\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/74ec3cd4a57247db22cf3151031fb5c4_1772157616.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x752\/gravity\/center\/crop\/!1440x752&ext=.jpeg\" width=\"1311\" height=\"685\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/a23743880e50e9ee140522b846ca6cc0_1772157616.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x772\/gravity\/center\/crop\/!1440x772&ext=.jpeg\" width=\"1301\" height=\"698\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<\/figure>\n<p>Q4 \u6bdb\u5229\u7387\u6574\u4f53\u4fdd\u6301\u5e73\u7a33<strong>\uff0c\u8d39\u7528\u7aef\u62c6\u5206\u770b\uff0c<\/strong>\u56db\u5b63\u5ea6\u516c\u53f8\u7684<strong>\u914d\u9001\u8d39\u7528\u8fbe\u5230 16.3 \u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f 94%\uff0c\u5360\u8425\u6536\u7684\u6bd4\u91cd\u4ece\u53bb\u5e74\u540c\u671f 8.7% \u5927\u5e45\u62c9\u5347\u5230 12.8%\uff0c\u4ecd\u7136\u662f\u5229\u6da6\u7aef\u6700\u5927\u7684\u62d6\u7d2f\u9879<\/strong>\u3002\u4f46\u4ece\u4e2d\u671f\u6765\u770b\uff0c<strong>\u7531\u4e8e\u5916\u5356\u8865\u8d34\u5e76\u4e0d\u53ef\u6301\u7eed\uff0c\u56e0\u6b64\u5bf9\u4e8e\u745e\u5e78\u6765\u8bf4\uff0c\u672c\u5b63\u5ea6\u98d9\u5347\u7684\u914d\u9001\u8d39\u7528\u5b9e\u9645\u4e0a\u4e5f\u53ea\u662f\u77ed\u671f\u5f71\u54cd\uff0c\u540e\u7eed\u4f34\u968f\u81ea\u63d0\u6bd4\u4f8b\u7684\u63d0\u5347\uff0c\u914d\u9001\u8d39\u7528\u7387\u5927\u6982\u7387\u8fd8\u662f\u4f1a\u56de\u843d\u81f3 10% \u4ee5\u4e0b\u7684\u5e38\u6001\u5316\u6c34\u5e73\u3002<\/strong><\/p>\n<p>\u5176\u4ed6\u8d39\u7528\u9879\u5305\u62ec\u9500\u552e\u8d39\u7528\u7387\u3001\u7ba1\u7406\u8d39\u7528\u7387\u6574\u4f53\u4fdd\u6301\u5e73\u7a33\uff0c\u6700\u7ec8\u5b9e\u73b0 Non-GAAP \u4e0b\u7ecf\u8425\u5229\u6da6 9.6 \u4ebf\u5143\uff0c\u540c\u6bd4\u4e0b\u6ed1 13%\u3002<\/p>\n<figure>\n<p><img loading=\"lazy\" src=\"https:\/\/images.tmtpost.com\/uploads\/images\/2026\/02\/bb52865c53d34ad563aecd527dbcab8e_1772157617.jpeg?imageMogr2\/auto-orient\/strip\/interlace\/1\/quality\/85\/thumbnail\/1440x822\/gravity\/center\/crop\/!1440x822&ext=.jpeg\" width=\"1830\" height=\"1045\" alt=\"\u745e\u5e78\uff1a\u5916\u5356\u5927\u6218 \u201c\u7ed1\u67b6\u201d \u4e86\u5496\u5561\u4e00\u54e5\uff1f\" style=\"display:block; margin-left:auto; margin-right:auto\" \/><\/p>\n<p>(\u6765\u6e90\uff1a\u949b\u5a92\u4f53)<\/figure>\n","protected":false},"excerpt":{"rendered":"<p>\u6587 | \u6d77\u8c5a\u7814\u7a76 \u745e\u5e78\u5496\u5561\uff08LKNCY\uff09\u4e8e\u5317\u4eac\u65f6\u95f4 2026 \u5e74 2 \u6708 26 \u65e5\u4e0b\u5348\u7f8e\u80a1\u76d8\u524d\u53d1\u5e03\u4e86 2025 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[266,19,153,241,330,88,238],"views":22,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/732021"}],"collection":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=732021"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/732021\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=732021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=732021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=732021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}