{"id":763903,"date":"2026-04-17T15:52:28","date_gmt":"2026-04-17T07:52:28","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=763903"},"modified":"2026-04-17T15:52:28","modified_gmt":"2026-04-17T07:52:28","slug":"%e6%af%94%e4%ba%9a%e8%bf%aa%e5%8d%96%e4%b8%80%e8%be%86%e8%b5%9a6400%e5%85%83%ef%bc%8c%e8%bf%98%e6%9c%893%e5%ae%b6%e8%bd%a6%e4%bc%81%e5%9c%a8%e4%ba%8f%e9%92%b1%e5%8d%96%e8%bd%a6","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=763903","title":{"rendered":"\u6bd4\u4e9a\u8fea\u5356\u4e00\u8f86\u8d5a6400\u5143\uff0c\u8fd8\u67093\u5bb6\u8f66\u4f01\u5728\u4e8f\u94b1\u5356\u8f66"},"content":{"rendered":"<p>2026.04.<strong>17<\/strong><\/p>\n<p><img data-lazyload=\"https:\/\/x0.ifengimg.com\/res\/2026\/24971718841C817B5F8B18919C3416021FC0D44F_size118_w1080_h607.jpg\" src=\"https:\/\/tech.ifeng.com\/c\/data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEXy8vJkA4prAAAACklEQVQI12NgAAAAAgAB4iG8MwAAAABJRU5ErkJggg==\" style=\"display:block; margin-left:auto; margin-right:auto\" alt=\"\u6bd4\u4e9a\u8fea\u5356\u4e00\u8f86\u8d5a6400\u5143\uff0c\u8fd8\u67093\u5bb6\u8f66\u4f01\u5728\u4e8f\u94b1\u5356\u8f66\"  \/><\/p>\n<p>\u672c\u6587\u5b57\u6570\uff1a1470\uff0c\u9605\u8bfb\u65f6\u957f\u5927\u7ea62\u5206\u949f<\/p>\n<p><strong>\u4f5c\u8005 | <\/strong>\u7b2c\u4e00\u8d22\u7ecf \u6b66\u5b50\u6654<\/p>\n<p>2025\u5e74\u56fd\u5185<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%b1%bd%e8%bd%a6\" title=\"View all posts in \u6c7d\u8f66\" target=\"_blank\" class=\"tag_link\">\u6c7d\u8f66<\/a>\u884c\u4e1a\u89c4\u6a21\u8fdb\u4e00\u6b65\u6500\u5347\uff0c\u4f46\u6fc0\u70c8\u7ade\u4e89\u4e0b\uff0c\u8f66\u4f01\u7684\u76c8\u5229\u80fd\u529b\u627f\u538b\uff0c\u800c\u4e0d\u540c\u8f66\u4f01\u4e4b\u95f4<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%8d%95%e8%bd%a6\" title=\"View all posts in \u5355\u8f66\" target=\"_blank\" class=\"tag_link\">\u5355\u8f66<\/a>\u76c8\u5229\u5206\u5316\u3002<\/p>\n<p>\u4ee5\u6c7d\u8f66\u9500\u552e\u4e1a\u52a1\u8425\u6536\u548c\u6263\u975e\u5f52\u6bcd\u51c0\u5229\u6da6\uff08\u6e2f\u80a1\u65b0\u52bf\u529b\u4e3a\u7ecf\u8c03\u6574\u51c0\u5229\u6da6\uff09\u4e3a\u53e3\u5f84\uff0c\u7b2c\u4e00\u8d22\u7ecf\u8bb0\u8005\u8fd1\u65e5\u5bf912\u5bb6\u4e3b\u6d41<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%b8%8a%e5%b8%82\" title=\"View all posts in \u4e0a\u5e02\" target=\"_blank\" class=\"tag_link\">\u4e0a\u5e02<\/a>\u8f66\u4f01\u7684\u5355\u8f66\u4ef7\u683c\u4e0e\u5355\u8f66\u5229\u6da6\u8fdb\u884c\u4e86\u68b3\u7406\u3002<\/p>\n<p>\u4ece\u5355\u8f66\u76c8\u5229\u6c34\u5e73\u6765\u770b\uff0c\u8f66\u4f01\u4e4b\u95f4\u7684\u5dee\u8ddd\u8f83\u5927\uff0c\u90e8\u5206\u65b0\u52bf\u529b\u4ecd\u5904\u4e8e\u4e8f\u635f\u72b6\u6001\u3002\u540c\u65f6\uff0c\u8fd9\u4e9b\u4f01\u4e1a\u7684\u5355\u8f66\u5229\u6da6\u5747\u672a\u7a81\u7834\u4e07\u5143\u3002<\/p>\n<\/p>\n<p>\u6ce8\uff1a\u672c\u8868\u201c\u6c7d\u8f66\u9500\u552e\u6536\u5165\u201d\u5f15\u81ea\u5e74\u62a5\u4e2d\u62ab\u9732\u7684\u6c7d\u8f66\u6574\u8f66\u9500\u552e\uff08\u6216\u8f66\u8f86\u9500\u552e\uff09\u4e1a\u52a1\u6536\u5165\u3002\u5176\u4e2d\uff0c\u90e8\u5206\u4f01\u4e1a\uff0c\u5982\u6bd4\u4e9a\u8fea\u3001<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%90%89%e5%88%a9\" title=\"View all posts in \u5409\u5229\" target=\"_blank\" class=\"tag_link\">\u5409\u5229<\/a>\u3001\u96f6\u8dd1\u3001\u957f\u5b89\u7b49\u7684\u6536\u5165\u4e2d\u5305\u542b\u6c7d\u8f66\u76f8\u5173\u4ea7\u54c1\u53ca\u96f6\u90e8\u4ef6\u6536\u5165\uff1b\u672c\u8868\u201c\u5229\u6da6\u201d\u4ee5\u6263\u975e\u5f52\u6bcd\u51c0\u5229\u6da6\u4e3a\u6838\u5fc3\u7edf\u4e00\u53e3\u5f84\uff0c\u6e2f\u80a1\u516c\u53f8\u91c7\u7528Non\u2011GAAP\u51c0\u5229\u6da6\uff08\u7ecf\u8c03\u6574\u51c0\u5229\u6da6\uff09\uff0c\u5947\u745e\u6c7d\u8f66\u6e2f\u80a1\u8d22\u62a5\u672a\u62ab\u9732Non\u2011GAAP\u51c0\u5229\u6da6\uff0c\u56e0\u6b64\u91c7\u7528\u5f52\u6bcd\u51c0\u5229\u6da6\u3002\u56e0\u6b64\uff0c\u5355\u8f66\u4ef7\u683c\u548c\u5355\u8f66\u5229\u6da6\u4e3a\u7c97\u7565\u8ba1\u7b97\u3002<\/p>\n<p>\u5728\u5355\u8f66\u4ef7\u683c\u548c\u5355\u8f66\u5229\u6da6\u4e24\u4e2a\u7ef4\u5ea6\u4e0a\uff0c\u8d5b\u529b\u65af\u5747\u4f4d\u5c45\u699c\u9996\u30022025\u5e74\uff0c\u8d5b\u529b\u65af\u6c7d\u8f66\u4e1a\u52a1\u8425\u65361575.14\u4ebf\u5143\uff0c\u6263\u975e\u5f52\u6bcd\u51c0\u5229\u6da651.36\u4ebf\u5143\uff0c\u5355\u8f66\u5747\u4ef7\u7ea630.48\u4e07\u5143\uff0c\u5355\u8f66\u5229\u6da6\u8fbe9936\u5143\uff0c\u662f12\u5bb6\u4f01\u4e1a\u4e2d\u552f\u4e00\u5355\u8f66\u5229\u6da6\u63a5\u8fd1\u4e07\u5143\u7684\u8f66\u4f01\uff0c\u4e5f\u662f\u552f\u4e00\u5355\u8f66\u4ef7\u683c\u7a81\u783430\u4e07\u5143\u7684\u8f66\u4f01\u3002<\/p>\n<p>\u7406\u60f3\u548c\u851a\u6765\u7684\u5355\u8f66\u4ef7\u683c\u4e5f\u8f83\u9ad8\uff0c\u5747\u572825\u4e07\u5143\u4ee5\u4e0a\u3002\u4e0d\u8fc7\uff0c\u8fd9\u4e24\u5bb6\u8f66\u4f01\u7684\u5355\u8f66\u76c8\u5229\u6c34\u5e73\u5b58\u5728\u5dee\u5f02\u3002\u851a\u6765\u662f12\u5bb6\u8f66\u4f01\u4e2d\u5355\u8f66\u4e8f\u635f\u6700\u5927\u7684\u4f01\u4e1a\uff0c\u6309\u7167Non-GAAP\u5229\u6da6\u8ba1\u7b97\uff0c\u851a\u6765\u5355\u8f66\u4e8f\u635f\u7ea63.8\u4e07\u5143\uff0c\u4e8f\u635f\u989d\u8f83\u6b64\u524d\u5df2\u5927\u5e45\u6536\u7a84\uff0c\u7406\u60f3\u7684\u5355\u8f66\u5229\u6da6\u5219\u4e3a5857\u5143\u3002<\/p>\n<p>\u5355\u8f66\u5747\u4ef7\u572810\u4e07\uff5e17\u4e07\u5143\u7684\u8f66\u4f01\u6709\u516d\u5bb6\uff0c\u5305\u62ec\u6bd4\u4e9a\u8fea\u3001\u957f\u57ce\u3001\u5409\u5229\u3001\u5947\u745e\u3001\u96f6\u8dd1\u548c\u5c0f\u9e4f\u3002<\/p>\n<p>\u5176\u4e2d\uff0c\u6bd4\u4e9a\u8fea\u4ee5460\u4e07\u8f86\u7684\u5e74\u9500\u89c4\u6a21\u7a33\u5c45\u884c\u4e1a\u7b2c\u4e00\uff0c\u6c7d\u8f66\u4e1a\u52a1\u6536\u51656486.46\u4ebf\u5143\uff0c\u6263\u975e\u5f52\u6bcd\u51c0\u5229\u6da6294.46\u4ebf\u5143\uff0c\u5355\u8f66\u5747\u4ef7\u7ea614.09\u4e07\u5143\uff0c\u5355\u8f66\u5229\u6da66398\u5143\u3002\u957f\u57ce\u6c7d\u8f66\u5355\u8f66\u5747\u4ef7\u7ea614.79\u4e07\u5143\uff0c\u5355\u8f66\u5229\u6da64577\u5143\u3002\u5409\u5229\u6c7d\u8f66\u5355\u8f66\u5747\u4ef7\u4e3a10.28\u4e07\u5143\uff0c\u867d\u7136\u5355\u8f66\u4ef7\u683c\u4e0d\u9ad8\uff0c\u4f46\u5229\u6da6\u8fbe4764\u5143\u3002\u5947\u745e\u6c7d\u8f66\u4ee5\u7ea610.35\u4e07\u5143\u7684\u5747\u4ef7\u5b9e\u73b0\u4e867228\u5143\u7684\u5355\u8f66\u5229\u6da6\uff0c\u5176\u5168\u7403\u5316\u6218\u7565\u4e0b\u6d77\u5916\u8f66\u578b\u7545\u9500\uff0c\u5229\u6da6\u53ef\u89c2\u3002<\/p>\n<p>\u4e0a\u8ff0\u516d\u5bb6\u4f01\u4e1a\u6709\u4e24\u5bb6\u65b0\u52bf\u529b\uff0c\u5176\u76c8\u5229\u6c34\u5e73\u6709\u6240\u5dee\u5f02\u3002\u5176\u4e2d\uff0c\u96f6\u8dd1\u6c7d\u8f66\u4ee5\u7ea610.39\u4e07\u5143\u7684\u5747\u4ef7\u9996\u6b21\u5b9e\u73b0\u5168\u5e74\u76c8\u5229\uff0c\u5355\u8f66\u5229\u6da6\u7ea61810\u5143\u3002\u5c0f\u9e4f\u6c7d\u8f66\u867d\u7136\u5355\u8f66\u5747\u4ef7\u7ea615.92\u4e07\u5143\uff0c\u4f46\u7ecf\u8c03\u6574\u5355\u8f66\u4e8f\u635f\u4ecd\u8fbe1071\u5143\uff0c\u4e0d\u8fc7\u4e8f\u635f\u5df2\u8f832024\u5e74\u5927\u5e45\u6536\u7a84\u3002<\/p>\n<p>\u5728\u5355\u8f66\u5747\u4ef710\u4e07\u5143\u4ee5\u4e0b\u7684\u8f66\u4f01\u4e2d\uff0c\u4e0a\u6c7d\u96c6\u56e2\u5355\u8f66\u5747\u4ef7\u7ea69.10\u4e07\u5143\uff0c\u5229\u6da6\u8fbe1647\u5143\u3002\u957f\u5b89\u6c7d\u8f66\u5219\u662f12\u5bb6\u4f01\u4e1a\u4e2d\u6700\u8584\u5229\u7684\u4e00\u5bb6\uff0c\u5355\u8f66\u5747\u4ef75.34\u4e07\u5143\uff0c\u5355\u8f66\u5229\u6da6\u4ec5960\u5143\uff0c\u5176\u5e74\u9500\u8fd1300\u4e07\u8f86\uff0c\u6df1\u84dd\u3001\u963f\u7ef4\u5854\u7b49<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%96%b0%e8%83%bd%e6%ba%90\" title=\"View all posts in \u65b0\u80fd\u6e90\" target=\"_blank\" class=\"tag_link\">\u65b0\u80fd\u6e90<\/a>\u54c1\u724c\u7684\u6295\u5165\u671f\u62d6\u7d2f\u4e86\u6574\u4f53\u5229\u6da6\u6c34\u5e73\u3002\u5e7f\u6c7d\u96c6\u56e2\u5355\u8f66\u5747\u4ef7\u4ec54.01\u4e07\u5143\uff0c\u5355\u8f66\u4e8f\u635f\u8fbe5729\u5143\uff0c\u5176\u662f\u552f\u4e00\u7531\u76c8\u8f6c\u4e8f\u7684\u4f20\u7edf\u8f66\u4f01\u3002<\/p>\n<p>\u6574\u4f53\u6765\u770b\uff0c\u8f66\u4f01\u4e4b\u95f4\u7684\u5355\u8f66\u76c8\u5229\u6c34\u5e73\u5dee\u5f02\u8f83\u5927\u3002\u800c\u6c7d\u8f66\u884c\u4e1a\u7ade\u4e89\u6fc0\u70c8\uff0c\u4ef7\u683c\u6218\u7b49\u73b0\u8c61\u8f83\u660e\u663e\uff0c\u5382\u5bb6\u4e0e\u7ecf\u9500\u5546\u7eb7\u7eb7\u91c7\u53d6\u201c\u4ee5\u4ef7\u6362\u91cf\u201d\u7684<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\u4e0d\u9057\u4f59\u529b\u5730\u4e89\u593a\u5e02\u573a\u4efd\u989d\uff0c\u51fa\u73b0\u589e\u91cf\u4e0d\u589e\u6536\uff0c\u589e\u6536\u4e0d\u589e\u5229\u7684\u72b6\u51b5\uff0c\u591a\u6570\u54c1\u724c\u4ef7\u683c\u5012\u6302\u52a0\u5267\u3002\u8fd9\u538b\u7f29\u4e86\u8f66\u4f01\u7684\u76c8\u5229\u7a7a\u95f4\uff0c\u5355\u8f66\u5229\u6da6\u88ab\u4fb5\u8680\u3002<\/p>\n<p>\u4e58\u8054\u4f1a\u6570\u636e\u663e\u793a\uff0c2025\u5e74\uff0c\u6211\u56fd\u6c7d\u8f66\u4ea7\u9500\u91cf\u540c\u6bd4\u5206\u522b\u589e\u957f10.4%\u548c9.4%\uff0c\u4ea7\u4e1a\u89c4\u6a21\u6500\u5347\u81f3\u65b0\u9ad8\u5ea6\u3002\u6c7d\u8f66\u884c\u4e1a\u5168\u5e74\u6536\u5165\u8fbe11.18\u4e07\u4ebf\u5143\uff0c\u6210\u672c\u9ad8\u8fbe9.85\u4e07\u4ebf\u5143\uff0c\u5229\u6da6\u4ec5\u4e3a4610\u4ebf\u5143\uff0c\u5229\u6da6\u7387\u4e3a4.1%\uff0c\u5904\u4e8e\u5386\u53f2\u4f4e\u4f4d\uff0c\u843d\u540e\u4e8e\u5168\u56fd\u5de5\u4e1a5.31%\u7684\u5e73\u5747\u5229\u6da6\u7387\u3002<\/p>\n<p><strong><a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%be%ae%e4%bf%a1\" title=\"View all posts in \u5fae\u4fe1\" target=\"_blank\" class=\"tag_link\">\u5fae\u4fe1<\/a>\u7f16\u8f91<\/strong> | \u82cf\u5c0f<\/p>\n<p>(\u6765\u6e90\uff1a\u65b0\u6d6a\u79d1\u6280)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2026.04.17 \u672c\u6587\u5b57\u6570\uff1a1470\uff0c\u9605\u8bfb\u65f6\u957f\u5927\u7ea62\u5206\u949f \u4f5c\u8005 | \u7b2c\u4e00\u8d22\u7ecf \u6b66\u5b50\u6654 2025\u5e74\u56fd\u5185\u6c7d\u8f66\u884c [&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":[195,203,305,95,290,113,88,29],"views":5,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/763903"}],"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=763903"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/763903\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=763903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=763903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=763903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}