{"id":769998,"date":"2026-04-27T20:03:58","date_gmt":"2026-04-27T12:03:58","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=769998"},"modified":"2026-04-27T20:03:58","modified_gmt":"2026-04-27T12:03:58","slug":"%e6%9c%9b%e5%9c%93%e5%86%8d%e9%81%9e%e8%a1%a8%ef%bc%9a%e9%ab%98%e6%af%9b%e5%88%a9%e4%b8%8b%e7%9a%84%e5%a2%9e%e9%95%b7%e9%9a%b1%e6%86%82%e5%8e%9f%e5%89%b5","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=769998","title":{"rendered":"\u671b\u5713\u518d\u905e\u8868\uff1a\u9ad8\u6bdb\u5229\u4e0b\u7684\u589e\u9577\u96b1\u6182\u539f\u5275"},"content":{"rendered":"<div>\n<div>\n<div>\n<div>\n<h1>\u671b\u5713\u518d\u905e\u8868\uff1a\u9ad8\u6bdb\u5229\u4e0b\u7684\u589e\u9577\u96b1\u6182<\/p>\n<div>\u539f\u5275<\/div>\n<\/h1>\n<p>                                <a href=\"https:\/\/www.finet.hk\/newscenter\/print_content\/69ef45932308297bade3e39f\" target=\"_blank\" rel=\"noopener\"><i title=\"\u6253\u5370\"><\/i><\/a>                            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data-image=\"https:\/\/images.finet.hk\/photoLib\/title\/202604_1\/02d02929-b36a-4633-924d-203a1f49900c.png\" data-returnurl=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69ef45932308297bade3e39f\" data-href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69ef45932308297bade3e39f\" onclick=\"return fbf2_click(this)\"><i title=\"\u5206\u4eab\u5230facebook\"><\/i><\/a><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/javascript:void(0)\" onclick=\"return wechat_share(this)\" tabindex=\"0\" data-container=\"body\" data-toggle=\"popover\" data-trigger=\"manual\" data-html=\"true\" data-placement=\"bottom\"><i title=\"\u5206\u4eab\u5230\u5fae\u4fe1\"><\/i><\/a><\/p>\n<div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div><\/div>\n<div>\n<p>\u6e2f\u80a1\u6a5f\u5668\u4eba<a href=\"https:\/\/www.alphaseek.cn\/?tag=ipo\" title=\"View all posts in IPO\" target=\"_blank\" class=\"tag_link\">IPO<\/a>\u8cfd\u9053\u71b1\u5ea6\u6301\u7e8c\u6500\u5347\uff0c\u4e00\u773e\u5de5\u696d\u3001\u670d\u52d9\u3001<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%89%a9%e6%b5%81\" title=\"View all posts in \u7269\u6d41\" target=\"_blank\" class=\"tag_link\">\u7269\u6d41<\/a>\u6a5f\u5668\u4eba\u4f01\u696d\u5bc6\u96c6\u905e\u8868\u3001\u9678\u7e8c\u904e\u8046\u8a0a\uff0c\u884c\u696d\u4f30\u503c\u5c0d\u6a19\u9ad4\u7cfb\u9010\u6b65\u5b8c\u5584\u3002<\/p>\n<p>\u5728\u6b64\u884c\u696d\u7a97\u53e3\u671f\uff0c\u6df1\u8015\u5782\u76f4\u7d30\u5206\u525b\u9700\u5834\u666f\u7684\u671b\u5713\u667a\u80fd\u518d\u6b21\u905e\u8868\uff0c\u64ec\u885d\u64ca\u300c\u6cf3\u6c60\u6a5f\u5668\u4eba\u7b2c\u4e00\u80a1\u300d\u3002<\/p>\n<p>\u4e0d\u540c\u65bc<strong>\u8d8a\u7586\uff08<a href='https:\/\/www.finet.hk\/search?searchbar=02432.HK'>02432.HK<\/a>\uff09<\/strong>\u3001<strong>\u512a\u5fc5\u9078\uff08<a href='https:\/\/www.finet.hk\/search?searchbar=09880.HK'>09880.HK<\/a>\uff09<\/strong>\u3001<strong>\u57c3\u65af\u9813\uff08<a href='https:\/\/www.finet.hk\/search?searchbar=02715.HK'>02715.HK<\/a>\uff09<\/strong>\u7b49\u805a\u7126\u5de5\u696d\u667a\u9020\u3001\u4eba\u5f62\u670d\u52d9\u3001\u7269\u6d41\u642c\u904b\u7684\u540c\u696d\u6a19\u7684\uff0c\u671b\u5713\u9328\u5b9a\u5c0f\u773e\u525b\u9700\u8cfd\u9053\uff0c\u5c08\u71df\u5168\u7cfb\u5217\u6cf3\u6c60\u6e05\u6f54\u6a5f\u5668\u4eba\u5168\u93c8\u8def\u696d\u52d9\u3002<\/p>\n<p>\u6a6b\u5411\u5c0d\u6bd4\u5168\u6e2f\u5df2<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>\u3001\u905e\u8868\u3001\u904e\u8046\u8a0a\u5168\u8b5c\u7cfb\u6a5f\u5668\u4eba\u6982\u5ff5\u80a1\uff0c\u671b\u57132025\u5e74\u696d\u7e3e<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%9f%ba%e6%9c%ac%e9%9d%a2\" title=\"View all posts in \u57fa\u672c\u9762\" 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class=\"tag_link\">\u57fa\u672c\u9762<\/a>\u3001\u76c8\u5229\u97cc\u6027\u3001\u6d77\u5916\u62d3\u5ba2\u80fd\u529b\u7a69\u5c45\u677f\u584a\u7b2c\u4e00\u68af\u968a\uff0c\u59a5\u59a5\u7684\u7d30\u5206\u8cfd\u9053\u512a\u8cea\u73fe\u91d1\u5976\u725b\u3002<\/p>\n<p>\u4f46\u7a7f\u900f\u4eae\u773c\u8ca1\u5831\u8868\u8c61\u6df1\u6316\u5e95\u5c64\u7d93\u71df\u908f\u8f2f\uff0c\u7814\u767c\u6295\u5165\u77ed\u677f\u3001\u6280\u8853\u58c1\u58d8\u504f\u5f31\u3001\u7d30\u5206\u8cfd\u9053\u7a7a\u9593\u53d7\u9650\u3001\u884c\u696d\u7af6\u722d\u767d\u71b1\u5316\u3001\u5408\u898f\u8a34\u8a1f\u7e8f\u8eab\u4e94\u5927\u6838\u5fc3\u96b1\u60a3\u540c\u6b65\u51f8\u986f\uff0c\u9ad8\u78ba\u5b9a\u6027\u76c8\u5229\u80cc\u5f8c\uff0c\u4e2d\u9577\u671f\u6210\u9577\u7a7a\u9593\u6216\u53d7\u9650\u3002<\/p>\n<p><strong>\u696d\u7e3e\u9818\u8dd1\uff1a\u6578\u64da\u4e4b\u4e0b\u7684\u771f\u5be6\u6210\u8272<\/strong><\/p>\n<p>\u5f9e\u8ca1\u52d9\u6578\u64da\u770b\uff0c\u671b\u5713\u7684\u8868\u73fe\u78ba\u5be6\u6436\u773c\u3002<\/p>\n<p>2025\u5e74\uff0c\u8a72\u516c\u53f8\u71df\u6536\u90548.12\u5104\u5143\uff08\u55ae\u4f4d\u4eba\u6c11\u5e63\uff0c\u4e0b\u540c\uff09\uff0c\u540c\u6bd4\u589e\u957749.43%\uff1b\u6bdb\u5229\u7387\u9ad8\u905462.93%\uff0c\u986f\u8457\u9ad8\u65bc\u5176\u4ed6\u6a5f\u5668\u4eba\u540c\u884c\u768416.99%~ 54.04%\u5340\u9593\uff1b\u7d93\u8abf\u6574\u6de8\u5229\u6f64\u90541.24\u5104\u5143\uff0c\u7d93\u8abf\u6574\u6de8\u5229\u6f64\u7387\u905415.30%\uff0c\u5728\u591a\u6578\u540c\u884c\u4ecd\u9677\u8667\u640d\u6ce5\u6f6d\u7684\u80cc\u666f\u4e0b\uff0c\u9019\u4e00\u76c8\u5229\u80fd\u529b\u78ba\u5be6\u7406\u60f3\u3002<\/p>\n<p>\u8207\u540c\u8cfd\u9053\u5176\u4ed6\u73a9\u5bb6\u76f8\u6bd4\uff0c\u671b\u5713\u5728\u7d30\u5206\u5e02\u5834\u7684\u982d\u90e8\u5730\u4f4d\u548c\u6210\u672c\u6574\u9ad4\u63a7\u5236\u6c34\u5e73\u78ba\u5be6\u62d4\u5c16\uff0c\u4f46\u5728\u6280\u8853\u6ea2\u50f9\u65b9\u9762\u5b58\u5728\u660e\u986f\u77ed\u677f--\u7814\u767c\u958b\u652f\u5360\u6536\u5165\u6bd4\u50c53.75%\uff0c\u9060\u4f4e\u65bc\u5176\u4ed6\u6a5f\u5668\u4eba\u4f01\u696d8%~ 30%\u7684\u666e\u904d\u6c34\u5e73\u3002\u9019\u76f4\u63a5\u6307\u5411\u4e00\u500b\u554f\u984c\uff1a\u5176\u9ad8\u6bdb\u5229\u7387\u7a76\u7adf\u662f\u6e90\u81ea\u54c1\u724c\u6ea2\u50f9\u548c\u7522\u54c1\u9818\u5148\uff0c\u9084\u662f\u66f4\u591a\u4f86\u81ea\u6210\u672c\u63a7\u5236\u548c\u6e20\u9053\u512a\u5316\uff1f\u9019\u4e0d\u7531\u5f97\u8b93\u4eba\u5c0d\u671b\u5713\u6280\u8853\u8b77\u57ce\u6cb3\u7684\u53ef\u6301\u7e8c\u6027\u7522\u751f\u9867\u616e\u3002<\/p>\n<p><strong>\u76c8\u5229\u7684\u5e95\u8272\uff1a\u5f9eODM\u5230OBM\u7684\u6230\u7565\u91cd\u69cb<\/strong><\/p>\n<p>2023\u5e74\u4e4b\u524d\uff0c\u671b\u5713\u7684\u672c\u8cea\u662f\u4e00\u5bb6\u300c\u96b1\u5f62\u300d\u7684ODM\u4ee3\u5de5\u5ee0\uff0c2023\u5e74ODM\u6536\u5165\u5360\u6bd4\u4ecd\u905431.10%\uff0c\u5728\u9019\u7a2e\u6a21\u5f0f\u4e0b\uff0c\u671b\u5713\u4ee5\u6700\u4f4e\u7684\u6210\u672c\u3001\u6700\u9ad8\u7684\u6548\u7387\u6eff\u8db3\u5ba2\u6236\u9700\u6c42\uff0c\u8cfa\u53d6\u76f8\u5c0d\u7a69\u5b9a\u7684\u52a0\u5de5\u5229\u6f64\u3002<\/p>\n<p>2023\u5e74\u6210\u70ba\u5206\u6c34\u5dba\uff0c\u671b\u5713\u555f\u52d5\u4e86\u5f9e\u300c\u8ce3\u7522\u54c1\u300d\u5230\u300c\u8ce3\u54c1\u724c\u300d\u7684\u6230\u7565\u8f49\u578b\uff0c\u5c07\u8cc7\u6e90\u91cd\u5fc3\u5927\u898f\u6a21\u8f49\u5411\u81ea\u6709\u54c1\u724c\u7684\u958b\u767c\u548c\u92b7\u552e\u3002\u77ed\u77ed\u5169\u5e74\u9593\uff0c\u54c1\u724c\u7522\u54c1\u6536\u5165\u5360\u6bd4\u5f9e2023\u5e74\u768467.14%\u5347\u81f32025\u5e74\u768483.47%\uff0cODM\u696d\u52d9\u5360\u6bd4\u5f9e31.10%\u7e2e\u6e1b\u81f315.65%\u3002\u54c1\u724c\u7522\u54c1\u5747\u50f9\u5f9e1,515\u5143\u6500\u5347\u81f31,830\u5143\uff0c\u54c1\u724c\u7522\u54c1\u92b7\u91cf\u5f9e16.75\u842c\u4ef6\u4e0a\u5347\u81f337.04\u842c\u4ef6\uff0c\u54c1\u724c\u5316\u5e36\u4f86\u7684\u5b9a\u50f9\u7d05\u5229\u6e05\u6670\u53ef\u898b\u3002<\/p>\n<p>\u9019\u4e00\u8f49\u578b\u76f4\u63a5\u63a8\u9ad8\u4e86\u6bdb\u5229\u7387\u6c34\u5e73\u3002ODM\u7522\u54c1\u7684\u6bdb\u5229\u7387\u7d04\u572845%\u81f351%\u4e4b\u9593\uff0c\u800c\u54c1\u724c\u7522\u54c1\u7684\u6bdb\u5229\u7387\u7a69\u5b9a\u572860%\u4ee5\u4e0a\uff0c2025\u5e74\u66f4\u63d0\u5347\u81f365.24%\u3002\u5728\u54c1\u724c\u7522\u54c1\u6536\u5165\u5360\u6bd4\u5927\u5e45\u63d0\u5347\u7684\u62c9\u52d5\u4e0b\uff0c\u8a72\u516c\u53f8\u6574\u9ad4\u6bdb\u5229\u7387\u5f9e2023\u5e74\u768457.47%\u7a69\u6b65\u6500\u5347\u81f32025\u5e74\u768462.93%\u3002\u8207\u6b64\u540c\u6642\uff0c\u7d93\u8abf\u6574\u6de8\u5229\u6f64\u7387\u5f9e2023\u5e74\u768419.28%\u4e0b\u964d\u81f32024\u5e74\u768414.26%\uff0c\u4f46\u65bc2025\u5e74\u53c8\u56de\u5347\u81f315.30%\u3002<\/p>\n<p>\u5f9e\u7d93\u71df\u5c64\u9762\u770b\uff0c\u9019\u4e00\u8f49\u578b\u7684\u6210\u6548\u5df2\u7d93\u5145\u5206\u986f\u73fe\uff1a\u516c\u53f8\u4e0d\u518d\u53ea\u662f\u4f9d\u9644\u65bc\u570b\u969b\u54c1\u724c\u7684\u4ee3\u5de5\u5ee0\uff0c\u800c\u662f\u5efa\u7acb\u4e86\u76f4\u9054\u6d88\u8cbb\u7d42\u7aef\u7684\u54c1\u724c\u8a8d\u77e5\u548c\u92b7\u552e\u7db2\u7d61\u3002<\/p>\n<p><img loading=\"lazy\" height=\"560\" src=\"https:\/\/images.finet.hk\/photoLib\/content\/202604_1\/f726a8e6-eddb-46ce-a2ed-6ee6ad334ffb.png\" width=\"728\" alt=\"\u671b\u5713\u518d\u905e\u8868\uff1a\u9ad8\u6bdb\u5229\u4e0b\u7684\u589e\u9577\u96b1\u6182\u539f\u5275\" style=\"display:block; margin-left:auto; margin-right:auto; \" 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                         <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div><a href=\"https:\/\/www.finet.hk\/search?searchbar=%E6%A9%9F%E5%99%A8%E4%BA%BA\">\u6a5f\u5668\u4eba<\/a> <a href=\"https:\/\/www.finet.hk\/search?searchbar=%E9%81%9E%E8%A1%A8\">\u905e\u8868<\/a> <a href=\"https:\/\/www.finet.hk\/search?searchbar=%E8%B6%8A%E7%96%86\">\u8d8a\u7586<\/a> <\/div>\n<div>\n<div>  <script async type='text\/javascript'>  if(\"B\" == 'S' && $(window).width() < 1024){  }  else{  <a href=\"https:\/\/www.alphaseek.cn\/?tag=google\" title=\"View all posts in google\" target=\"_blank\" class=\"tag_link\">google<\/a>tag.cmd.push(function() { googletag.display(''); });  }  <\/script>  <\/div>\n<\/div>\n<div><\/div>\n<div>\n<div>\n<h3>\u4e0a\u4e00\u7bc7\u65b0\u805e<\/h3>\n<p><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69ef00fa2308297bade3e39b\">\u7f8e\u514b\u751f\u905e\u8868\u6e2f\u4ea4\u6240\uff1a\u4e00\u5bb6AI\u8f15\u8cc7\u7522\u5132\u80fd\u7368\u89d2\u7378\u7684\u7a81\u570d\u8207\u96b1\u6182<\/a>                    <\/div>\n<div>                                              <\/div>\n<\/p><\/div>\n<div>\n<h3>\u76f8\u95dc\u6587\u7ae0<\/h3>\n<dl>\n<dt>4\u5c0f\u6642\u524d<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69ef00fa2308297bade3e39b\">\u7f8e\u514b\u751f\u905e\u8868\u6e2f\u4ea4\u6240\uff1a\u4e00\u5bb6AI\u8f15\u8cc7\u7522\u5132\u80fd\u7368\u89d2\u7378\u7684\u7a81\u570d\u8207\u96b1\u6182<\/a><\/dd>\n<dt>4\u670824\u65e5<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69eaff52230829a8c85a0c71\">\u3010IPO\u524d\u54e8\u3011\u300c\u773c\u79d1\u8305\u300d\u8d74\u6e2f\uff0cA\u80a1\u4f30\u503c\u6ea2\u50f9\u9084\u80fd\u4fdd\u4f4f\u55ce\uff1f<\/a><\/dd>\n<dt>4\u670823\u65e5<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69ea0292230829617f59ccf8\">\u7ffc\u83f2\u667a\u80fd\u904e\u8046\u8a0a\uff0c9\u5bb6\u6392\u968aIPO\u6a5f\u5668\u4eba\u4f01\u696d\uff0c\u76c8\u5229\u8207\u4f30\u503c\u5982\u4f55\u5e73\u8861\uff1f<\/a><\/dd>\n<dt>4\u670821\u65e5<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69e75d0e230829d2e13c94b5\">\u7ffc\u83f2\u667a\u80fd\u904e\u8046\u8a0a\uff1a\u9ad8\u589e\u9577\u4e0b\u7684\u8667\u640d\u56f0\u5c40<\/a><\/dd>\n<dt>4\u670821\u65e5<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69e72799230829d2e13c94b1\">\u5fae\u8108\u4e8c\u95d6\u6e2f\u4ea4\u6240\uff1aAI\u6545\u4e8b\u80fd\u5426\u6490\u8d77\u7368\u89d2\u7378\u4f30\u503c\uff1f<\/a><\/dd>\n<dt>4\u670817\u65e5<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69e21c92230829b87c40fb6a\">\u3010IPO\u524d\u54e8\u3011\u53ef\u5b5a\u95d6\u95dc\u6e2f\u80a1\uff0c\u767e\u5104\u4f30\u503c\u80fd\u5426\u5728\u7dad\u6e2f\u7ad9\u7a69\u8173\u8ddf\uff1f<\/a><\/dd>\n<dt>4\u670815\u65e5<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69df77b323082929f6467292\">\u8d74\u6e2f\u4e0a\u5e02\uff0c\u662f\u82af\u539f\u7684\u6551\u547d\u7a3b\u8349\u9084\u662f\u65b0\u7684\u8d77\u8dd1\u7dda\uff1f<\/a><\/dd>\n<dt>4\u670814\u65e5<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69de205e230829e18e636fae\">\u83ef\u5de5\u79d1\u6280\u905e\u8868\u6e2f\u4ea4\u6240\uff0c\u5343\u5104\u4f30\u503c\u80cc\u5f8c\u7684\u559c\u8207\u6182<\/a><\/dd>\n<dt>4\u670813\u65e5<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69dcd64d2308299a744f335e\">\u66e6\u667a\u79d1\u6280\u5df2\u904e\u8046\u8a0a\uff1aAI\u5149\u7b97\u529b\u7368\u89d2\u7378\u7684\u4f30\u503c\u8ff7\u601d<\/a><\/dd>\n<dt>4\u670810\u65e5<br \/><span><\/span><\/dt>\n<dd><a href=\"https:\/\/www.finet.hk\/newscenter\/news_content\/69d8e221230829c737e91df8\">\u81ea\u7136\u5802\u518d\u6c96\u6e2f\u80a1\uff0c\u8cc7\u672c\u5e02\u5834\u96e3\u7d66\u300c\u60c5\u61f7\u6ea2\u50f9\u300d<\/a><\/dd>\n<\/dl><\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u671b\u5713\u518d\u905e\u8868\uff1a\u9ad8\u6bdb\u5229\u4e0b\u7684\u589e\u9577\u96b1\u6182 \u539f\u5275 \u65e5\u671f\uff1a 2026\u5e744\u670827\u65e5 \u4e0b\u53487:11 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