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\u963f\u91cc\u5df4\u5df4\u6ca1\u5fc5\u8981\u3001\u4e5f\u5f88\u96be\u6253\u9020\u4e00\u4e2a\u5c5e\u4e8e\u81ea\u5df1\u7684\u5feb\u624b\u3001\u6296\u97f3\uff0c\u4f46\u5373\u4f7f\u662f\u9632\u5b88\u578b\u6253\u6cd5\uff0c\u6dd8\u5b9d\u76f4\u64ad\u4e5f\u9700\u8981\u76f4\u9762\u65b0\u7ade\u4e89\u4e1a\u6001\u3002<\/p>\n \u7ebf\u4e0a\u7684\u7ade\u4e89\u683c\u5c40\u8fd8\u7b97\u5f97\u5fc3\u5e94\u624b\uff0c\u7ebf\u4e0b\u7684\u96f6\u552e\u6218\u573a\u53c8\u662f\u963f\u91cc\u5df4\u5df4\u6700\u96be\u5543\u4e0b\u7684\u786c\u9aa8\u5934\u3002<\/p>\n \u7ea2\u661f\u7f8e\u51ef\u9f99\u3001\u5c45\u7136\u4e4b\u5bb6\u3001\u94f6\u6cf0\u767e\u8d27\u3001\u5f00\u5143\u5546\u4e1a\u3001\u77f3\u57fa\u96f6\u552e\u3001\u9ad8\u946b\u96f6\u552e\u80cc\u540e\u90fd\u6709\u963f\u91cc\u5df4\u5df4\u7684\u5f71\u5b50\uff0c\u8fd9\u4e9b\u4f20\u7edf\u4e1a\u52a1\u80fd\u5426\u8f6c\u53d8\u4e3a\u9a6c\u4e91\u5f0f\u65b0\u96f6\u552e\u7684\u5e94\u624b\u68cb\u5b50\uff0c\u5f62\u6210\u7ebf\u4e0a\u7ebf\u4e0b\u826f\u6027\u4e92\u8865\u7684\u201c\u751f\u6001\u201d\uff0c\u6050\u6015\u8fd8\u662f\u4e00\u6bb5\u6f2b\u957f\u5f81\u9014\u3002<\/p>\n \u4e00\u4e9b\u673a\u6784\u6295\u8d44\u8005\u8c03\u4f83\u9053\uff1a\u963f\u91cc\u5df4\u5df4\u7684\u4f01\u56fe\u5fc3\u8fd9\u4e48\u5927\uff0c\u53ea\u6709\u4e00\u4e2a\u7ebd\u4ea4\u6240\u54ea\u91cc\u88c5\u5f97\u4e0b\uff1f<\/p>\n \u800c\u5728\u6240\u6709\u878d\u8d44\u5f62\u5f0f\u4e2d\uff0c\u4e0a\u5e02\u52df\u96c6\u8d44\u91d1\u76f8\u5bf9\u201c\u4fbf\u5b9c\u201d\uff0c\u540c\u65f6\u5728\u8d22\u52a1\u62a5\u8868\u4e2d\u4e2a\u663e\u5f97\u6bd4\u8f83\u201c\u79ef\u6781\u201d\u3002<\/p>\n \u4e8c\u3001 \u9999\u6e2f\u9000\u5e02\u80cc\u666f\u58f0<\/p>\n \u6458\u8981\uff1a\u4e0e\u6e2f\u4ea4\u6240\u7684\u521d\u604b\u662f\u4e00\u6b21\u6d17\u793c\uff0c\u963f\u91cc\u5df4\u5df4\u8fd9\u4f4d\u4e00\u7ea7\u5e02\u573a\u597d\u5b66\u751f\uff0c\u7b2c\u4e00\u6b21\u5b9e\u8df5\u4e86\u4e8c\u7ea7\u5e02\u573a\u7684\u6e38\u620f\u89c4\u5219\u3002<\/strong><\/p>\n 1\u3001 \u660e\u661f\u8d44\u672c\u7684\u597d\u5b66\u751f<\/strong><\/p>\n \u963f\u91cc\u5bf9\u8d44\u672c\u5e02\u573a\u7684\u5a34\u719f\uff0c\u5df2\u7ecf\u5199\u5165\u516c\u53f8DNA\u3002\u6b63\u5982\u540e\u6765\u9a6c\u4e91\u7684\u603b\u7ed3\uff0c\u201c\u751f\u610f\u4eba\u548c\u94b1\u6253\u4ea4\u9053\u201d\u3002<\/p>\n 2014\u5e741\u6708\uff0c\u8521\u5d07\u4fe1\u5728\u63a5\u53d7\u300a\u798f\u5e03\u65af\u300b\u6742\u5fd7\u7f57\u7d20\u00b7\u5f17\u5170\u7eb3\u91cc\uff08Russell Flannery\uff09\u91c7\u8bbf\u65f6\u56de\u5fc6\uff0c1999\u5e745\u6708\u4ed6\u7b2c\u4e00\u6b21\u4e0e\u9a6c\u4e91\u4f1a\u9762\u65f6\uff1a\u201cJack\uff08\u9a6c\u4e91\uff09\u751a\u81f3\u6ca1\u6709\u4e00\u5bb6\u516c\u53f8\u3002\u4ed6\u6ca1\u6709\u7ec4\u5efa\u4efb\u4f55\u516c\u53f8\u5b9e\u4f53\uff0c\u53ea\u6709\u4e00\u4e2a\u8fd0\u884c\u4e86\u51e0\u4e2a\u6708\u7684\u7f51\u7ad9\u3002\u201d<\/p>\n \u8521\u5d07\u4fe1\u73b0\u4efb\u963f\u91cc\u5df4\u5df4\u8463\u4e8b\u5c40\u6267\u884c\u526f\u4e3b\u5e2d\uff0c\u5f53\u65f6\u5728\u9999\u6e2f\u4e3a\u4e00\u5bb6\u6210\u7acb\u4e8e1916\u5e74\u7684\u745e\u5178\u6295\u8d44\u516c\u53f8Investor AB\u5de5\u4f5c\u3002<\/p>\n \u8fd9\u662f\u963f\u91cc\u5df4\u5df4\u4e0e\u5168\u7403\u8d44\u672c\u5e02\u573a\u7684\u7b2c\u4e00\u6b21\u4eb2\u5bc6\u63a5\u89e6\uff0c\u5f88\u5feb\u63a5\u53d7\u4e86\u8d44\u672c\u5e02\u573a\u7684\u89c4\u5219\u3002<\/p>\n \u9a6c\u4e91\u4e0e\u8521\u5d07\u4fe1\u89c1\u9762\u4e4b\u540e\uff0c\u4ec5\u8fc7\u53bb\u4e00\u4e2a\u591a\u6708\u7684\u65f6\u95f4\uff0c1999\u5e746\u670828\u65e5\uff0c\u963f\u91cc\u5df4\u5df4\u96c6\u56e2\u63a7\u80a1\u6709\u9650\u516c\u53f8\uff08AGHL\uff0cAlibaba Group Holding Limited\uff0c\u4e5f\u5c31\u662f\u8fd9\u6b21\u5728\u9999\u6e2f\u4e0a\u5e02\u7684\u516c\u53f8\u4e3b\u4f53\uff09\u5728\u5f00\u66fc\u7fa4\u5c9b\u6ce8\u518c\u6210\u7acb\u3002<\/p>\n 1999\u5e749\u67089\u65e5\uff0c\u963f\u91cc\u5df4\u5df4\u4e2d\u56fd\u4ee5\u5916\u5546\u72ec\u8d44\u5f62\u5f0f\u6ce8\u518c\u6210\u7acb\u30021999\u5e7410\u6708\uff0c\u963f\u91cc\u5df4\u5df4\u83b7\u5f97\u9996\u8f6e\u98ce\u9669\u6295\u8d44500\u4e07\u7f8e\u5143\u3002<\/p>\n \u4ee5\u73b0\u5728\u7684\u6807\u51c6\u8bc4\u4ef7\uff0c\u963f\u91cc\u5df4\u5df4\u4e00\u5f00\u59cb\u5c31\u5f15\u5165\u4e86\u4e00\u652f\u660e\u661f\u57fa\u77f3\u6295\u8d44\u8005\u56e2\u961f\u3002<\/p>\n 500\u4e07\u7f8e\u5143\u7684\u6295\u8d44\u7531\u9ad8\u76db\u9886\u6295\u5176\u4e2d\u7684330\u4e07\u7f8e\u5143\uff0c\u8ddf\u6295\u7684\u673a\u6784\u6709\u534e\u76c8\u57fa\u91d1\u3001\u5bcc\u8fbe\u4e9a\u6d32\u3001\u6c47\u4e9a\u8d44\u672c\u548c\u8521\u5d07\u4fe1\u7684\u8001\u4e1c\u5bb6\u745e\u5178Investor AB\uff0c\u5171\u6362\u53d6\u963f\u91cc\u5df4\u5df450%\u7684\u80a1\u6743\u3002<\/p>\n \u6709\u4e86\u57fa\u77f3\u6295\u8d44\u8005\u80cc\u4e66\uff0c\u518d\u52a0\u4e0a\u4e16\u7eaa\u672b\u5168\u7403\u706b\u70ed\u7684\u4e92\u8054\u7f51\u8d44\u672c\u6d6a\u6f6e\uff08\u540e\u6765\u88ab\u79f0\u4e3a\u4e92\u8054\u6ce1\u6cab\u7684\u90a3\u6b21\uff09\uff0c\u963f\u91cc\u540e\u7eed\u7684\u878d\u8d44\u518d\u4e0a\u4e00\u4e2a\u6570\u91cf\u7ea7\u3002<\/p>\n 1999\u5e7410\u6708\uff0c\u9a6c\u4e91\u62dc\u8bbf\u5b59\u6b63\u4e49\uff1b2000\u5e741\u6708\uff0c\u963f\u91cc\u5df4\u5df4\u83b7\u5f97\u8f6f\u94f62000\u4e07\u7f8e\u5143\u7684\u7b2c\u4e8c\u8f6e\u878d\u8d44\uff1b2000\u5e747\u6708\uff0c\u9a6c\u4e91\u767b\u4e0a\u300a\u798f\u5e03\u65af\u300b\u6742\u5fd7\u5c01\u9762\uff1b2000\u5e748\u6708\uff0c\u82f1\u56fd\u300a\u7ecf\u6d4e\u5b66\u4eba\u300b\u4ee5\u201c\u9a6c\u4e91\u5c06\u79f0\u738b\uff08The Jack Who Would Be King\uff09\u201d \u4e3a\u9898\uff0c\u62a5\u9053\u4e86\u963f\u91cc\u5df4\u5df4\u3002<\/p>\n \u6210\u7acb\u4e0d\u5230\u4e24\u5e74\uff0c\u963f\u91cc\u5df4\u5df4\u501f\u52a9\u8d44\u672c\u7684\u529b\u91cf\uff0c\u5c0f\u5fc3\u7ffc\u7ffc\u5730\u7a7f\u8d8a\u4e862001\u5e74\u7684\u4e92\u8054\u7f51\u6ce1\u6cab\u5bd2\u51ac\uff0c\u57282002\u5e74\u5b9e\u73b0\u4e86\u201c\u4e00\u5757\u94b1\u201d\u7684\u76c8\u4e8f\u5e73\u8861\u3002\u501f\u52a9\u8d44\u672c\u7684\u529b\u91cf\uff0c\u57282003\u5e74\u201c\u975e\u5178\u201d\u7684\u9634\u973e\u4e2d\uff0c\u963f\u91cc\u5df4\u5df4\u5b55\u80b2\u51fa2C\u4e1a\u52a1\u6dd8\u5b9d\u7f51\u3002<\/p>\n 2003\u5e7410\u6708\uff0c\u6dd8\u5b9d\u7f51\u63a8\u51fa\u652f\u4ed8\u5b9d\u670d\u52a1\u30022004\u5e742\u6708\uff0c\u963f\u91cc\u5df4\u5df4\u518d\u6b21\u5728\u8f6f\u94f6\u9886\u6295\u4e0b\uff0c\u878d\u8d448200\u4e07\u7f8e\u5143\uff0c\u8fd9\u662f\u5f53\u65f6\u4e2d\u56fd\u4e92\u8054\u7f51\u9886\u57df\u6700\u5927\u89c4\u6a21\u7684\u79c1\u52df\u878d\u8d44\u3002<\/p>\n \u5f53\u5e7412\u6708\uff0c\u652f\u4ed8\u5b9d\u72ec\u7acb\u8fd0\u8425\u3002<\/p>\n \u521b\u4e1a\u4e94\u5e74\u7684\u963f\u91cc\u5df4\u5df4\uff0c\u5df2\u7ecf\u521d\u6b65\u642d\u5efa\u51fa\u4e86\u6838\u5fc3\u7684\u7535\u5546\u4e1a\u52a1\u96cf\u5f62\u3002<\/p>\n 2005\u5e748\u6708\uff0c\u96c5\u864e\u4ee5\u96c5\u864e\u4e2d\u56fd\u4e1a\u52a1\u518d\u52a010\u4ebf\u7f8e\u5143\u7684\u5bf9\u4ef7\uff0c\u83b7\u5f97\u963f\u91cc\u5df4\u5df440%\u7684\u80a1\u6743\uff0835%\u7684\u6295\u7968\u6743\uff09\uff0c\u4ee5\u53ca\u963f\u91cc\u5df4\u5df4\u8463\u4e8b\u4f1a\u56db\u4e2a\u5e2d\u4f4d\u4e2d\u7684\u4e00\u5e2d\u3002\u9664\u8f6f\u94f6\u4ee5\u5916\u7684\u5176\u4ed6\u8d22\u52a1\u6295\u8d44\u8005\u9646\u7eed\u9000\u51fa\u3002<\/p>\n \u7ecf\u8fc7\u8fd9\u8f6e\u8d44\u672c\u64cd\u4f5c\uff0c\u963f\u91cc\u5df4\u5df4\u4e09\u5927\u80a1\u4e1c\u96c5\u864e\u3001\u9a6c\u4e91\u4e3a\u9996\u7684\u7ba1\u7406\u5c42\u3001\u8f6f\u94f6\uff0c\u5206\u522b\u6301\u80a140%\u300131.7%\u300129.3%\uff0c\u5bf9\u5e94\u7684\u6295\u7968\u6743\u4e3a35%\uff0c36.7%\uff0c29.3%\u3002<\/p>\n \u5bf9\u4e8e\u963f\u91cc\u5df4\u5df4\u800c\u8a00\uff0c\u4e0e\u96c5\u864e\u7684\u4ea4\u6613\u57fa\u672c\u89e3\u51b3\u4e86\u5f53\u65f6\u53d1\u5c55\u6700\u9700\u8981\u7684\u4e1c\u897f\u2014\u2014<\/p>\n 10\u4ebf\u7f8e\u5143\u7684\u8d44\u91d1\uff0c\u65e9\u671f\u8d22\u52a1\u6295\u8d44\u8005\u7684\u4f53\u9762\u9000\u51fa\uff0c\u4e00\u90e8\u5206\u9ad8\u7ba1\u5b9e\u73b0\u80a1\u6743\u53d8\u73b0\uff0c\u963f\u91cc\u5df4\u5df4\u5bf9\u6dd8\u5b9d\u7f51\u7684\u7edd\u5bf9\u63a7\u5236\uff0c\u5168\u7403\u4e92\u8054\u7f51\u7684\u884c\u4e1a\u5730\u4f4d\uff0c\u5728\u516c\u4f17\u9762\u524d\u7684\u516c\u4fe1\u5ea6\uff0c\u76f8\u5bf9\u6210\u719f\u7684\u4e1a\u52a1\u6a21\u5f0f\uff0c\u641c\u7d22\u548c\u5e7f\u544a\u7684\u8425\u9500\u6280\u672f\u56e2\u961f\uff0c\u4ee5\u53ca\u96c5\u864e\u4e2d\u56fd\u6c89\u6dc0\u7684\u6d77\u91cf\u7528\u6237\u3002<\/p>\n \u4f46\u4e0a\u8ff0\u80a1\u6743\u548c\u63a7\u5236\u7ed3\u6784\uff0c\u4e5f\u4e3a\u540e\u6765\u7684\u63a7\u5236\u6743\u4e4b\u4e89\u57cb\u4e0b\u4e86\u8bf8\u591a\u4f0f\u7b14\u3002\u63a7\u5236\u6743\u7684\u95ee\u9898\uff0c\u662f\u963f\u91cc\u8d44\u672c\u5c40\u4e2d\u53e6\u4e00\u6761\u9690\u85cf\u7684\u4e3b\u7ebf\u3002<\/p>\n \u6216\u8005\u8bf4\uff0c\u8fd9\u7b14\u4ea4\u6613\u8fd8\u662f\u963f\u91cc\u5df4\u5df4\u4ece\u8d44\u672c\u5b66\u751f\uff0c\u6210\u957f\u4e3a\u8d44\u672c\u6559\u7236\u7684\u8f6c\u6298\u70b9\u3002<\/p>\n 2\u3001 \u4e0e\u6e2f\u4ea4\u6240\u7684\u521d\u604b<\/strong><\/p>\n \u5728\u5546\u4e1a\u4e16\u754c\uff0c\u6240\u6709\u7684\u79bb\u5f00\u548c\u91cd\u9022\u90fd\u7ecf\u8fc7\u4e86\u6df1\u601d\u719f\u8651\u3002<\/p>\n \u90a3\u6bb5\u4e0e\u6e2f\u4ea4\u6240\u7684\u521d\u604b\u662f\u4e00\u6b21\u8d44\u672c\u6d17\u793c\uff0c\u963f\u91cc\u5df4\u5df4\u8fd9\u4e2a\u4e00\u7ea7\u5e02\u573a\u7684\u597d\u5b66\u751f\uff0c\u5728\u4e2d\u56fd\u7684\u5357\u6d77\u8fb9\u5b9e\u8df5\u4e86\u4e8c\u7ea7\u5e02\u573a\u7684\u6e38\u620f\u89c4\u5219\u3002<\/p>\n \u963f\u91cc\u5df4\u5df4[1688.HK]\u7684\u516c\u53f8\u4e3b\u4f53\u963f\u91cc\u5df4\u5df4\u7f51\u7edc\u6709\u9650\u516c\u53f8\uff0c2006\u5e749\u6708\u5728\u5f00\u66fc\u7fa4\u5c9b\u6ce8\u518c\u6210\u7acb\u3002<\/p>\n \u6839\u636e\u5f53\u65f6\u7684\u62db\u80a1\u4e66\u62ab\u9732\uff0c\u4e0a\u5e02\u4e4b\u524d\uff0c\u963f\u91cc\u5df4\u5df4\u7f51\u7edc\u6709\u9650\u516c\u53f8(\u5f00\u66fc\u7fa4\u5c9b)100%\u6301\u6709\u963f\u91cc\u5df4\u5df4\u4e2d\u56fd\u3001\u963f\u91cc\u5df4\u5df4\u8f6f\u4ef6\uff0c\u4ee5\u53ca\u963f\u91cc\u5df4\u5df4\u5728\u7f8e\u56fd\u3001\u65e5\u672c\u3001\u4e2d\u56fd\u9999\u6e2f\u3001\u4e2d\u56fd\u53f0\u6e7e\u7b49B2B\u4e1a\u52a1\u5b50\u516c\u53f8\u3002<\/p>\n \u4e3a\u4ec0\u4e48\u5c06B2B\u4e1a\u52a1\u5355\u72ec\u4e0a\u5e02\uff1f\u963f\u91cc\u5df4\u5df4\u5f53\u65f6\u7684\u5b98\u65b9\u53e3\u5f84\u662f\uff0c\u516c\u53f8\u7684\u53d1\u5c55\u91cd\u70b9\u662f\u5168\u7403\u5316\u3001\u56fd\u9645\u5316\u3002<\/p>\n \u771f\u6b63\u7684\u539f\u56e0\u8fd8\u8981\u56de\u5230\u963f\u91cc\u5df4\u5df4\u7684\u4e1a\u52a1\u6a21\u5757\u30022007\u5e74\u524d\u540e\uff0c\u963f\u91cc\u5df4\u5df4\u7684\u6838\u5fc3\u4e1a\u52a1\u662f\u9a6c\u4e91\u5f53\u65f6\u6240\u8bf4\u7684\u201c\u8fbe\u6469\u4e94\u6307\u201d\uff1a\u963f\u91cc\u5df4\u5df4\u3001\u6dd8\u5b9d\u7f51\u3001\u96c5\u864e\u4e2d\u56fd\u3001\u652f\u4ed8\u5b9d\u3001\u963f\u91cc\u8f6f\u4ef6\u3002<\/p>\n \u8fd8\u5728\u201c\u70e7\u94b1\u201d\u6269\u5f20\u7684\u6dd8\u5b9d\u7f51\uff08\u5f88\u50cf\u73b0\u5728\u7684\u62fc\u591a\u591a\uff09\uff0c\u76c8\u5229\u6a21\u5f0f\u5c1a\u4e0d\u751a\u6e05\u6670\u3002\u53cd\u89c2\u963f\u91cc\u5df4\u5df4\u7684B2B\u4e1a\u52a1\uff0c\u65e0\u8bba\u662f\u5546\u4e1a\u903b\u8f91\u8fd8\u662f\u7ecf\u8425\u60c5\u51b5\uff0c\u5728\u8fd9\u4e94\u5927\u677f\u5757\u4e2d\u90fd\u7b97\u6bd4\u8f83\u7a33\u5065\u3002<\/p>\n \u4e0a\u5e02\u9996\u65e5\uff0c\u963f\u91cc\u5df4\u5df4[1688.HK]\u6536\u76d839.5\u6e2f\u5143\uff0c\u8f83\u53d1\u884c\u4ef713.5\u6e2f\u5143\u4e0a\u6da8192%\uff0c\u521b\u4e0b\u6e2f\u80a1\u5f53\u5e74\u65b0\u80a1\u9996\u65e5\u6da8\u5e45\u4e4b\u6700\uff0c\u52df\u96c6\u8d44\u91d1\u89c4\u6a21\u8fd117\u4ebf\u7f8e\u5143\uff0c\u4e00\u5ea6\u662f\u81eaGoogle\u4e0a\u5e02\u4ee5\u6765\u5168\u7403\u89c4\u6a21\u6700\u5927\u7684\u7f51\u7edc\u80a1IPO\u3002<\/p>\n \u963f\u91cc\u5df4\u5df4\u98ce\u5149\u65e0\u4e24\uff0c\u5a92\u4f53\u8bc4\u4ef7\u8bf4\uff0c\u5b83\u662f\u6e2f\u4ea4\u6240\u6700\u4e3a\u9a84\u50b2\u7684\u201c\u5b69\u5b50\u201d\u3002<\/p>\n \u8fd9\u79cd\u8d8b\u52bf\u672a\u6301\u7eed\u591a\u4e45\uff0c\u7f8e\u56fd\u6b21\u8d37\u5371\u673a\u7206\u53d1\uff0c\u5168\u7403\u80a1\u5e02\u96c6\u4f53\u5927\u632b\uff0c\u6052\u751f\u6307\u6570\u56e0\u6b64\u4e00\u5ea6\u8dcc\u5165\u5386\u53f2\u6700\u4f4e\u70b9\u3002\u963f\u91cc\u5df4\u5df4[1688.HK]\u80a1\u4ef7\u968f\u4e4b\u4e0b\u884c\u3002<\/p>\n \u6b64\u540e\uff0c\u867d\u6709\u6240\u53cd\u5f39\uff0c\u4f46\u80a1\u4ef7\u8d70\u52bf\u8fdc\u8fdc\u8d76\u4e0d\u4e0a\u963f\u91cc\u5df4\u5df4\u7684\u53d1\u5c55\u901f\u5ea6\u3002\u5c24\u5176\u662f\u968f\u540e\u51e0\u5e74\u963f\u91cc2C\u7535\u5546\u5f00\u59cb\u7206\u70b8\u5f0f\u589e\u957f\u3002<\/p>\n 2008\u5e744\u6708\uff0c\u6dd8\u5b9d\u7f51\u63a8\u51fa\u6dd8\u5b9d\u5546\u57ce\uff0c\u5373\u540e\u6765\u7684\u5929\u732b\u30022009\u5e749\u6708\uff0c\u963f\u91cc\u5df4\u5df4\u6536\u8d2d\u4e07\u7f51\uff0c\u963f\u91cc\u4e91\u6210\u7acb\u30022010\u5e744\u6708\uff0c\u201c\u56fd\u9645\u7248\u6dd8\u5b9d\u201dAliExpress\u4e0a\u7ebf\u30028\u6708\uff0c\u624b\u673a\u6dd8\u5b9d\u5ba2\u6237\u7aef\u4e0a\u7ebf\u30022011\u5e746\u6708\uff0c\u6dd8\u5b9d\u5546\u57ce\u4ece\u6dd8\u5b9d\u7f51\u72ec\u7acb\u3002<\/p>\n 2012\u5e742\u670821\u65e5\uff0c\u963f\u91cc\u5df4\u5df4[1688.HK]\u63d0\u51fa\u79c1\u6709\u5316\u8981\u7ea6\uff0c\u56de\u8d2d\u4ef7\u683c\u6bcf\u80a113.5\u6e2f\u5143\uff08\u4e0e2007\u5e74\u65f6\u53d1\u884c\u4ef7\u5b8c\u5168\u76f8\u540c\uff09\uff0c\u9884\u8ba1\u8017\u8d44190\u4ebf\u6e2f\u5143\u3002<\/p>\n \u5bf9\u4e8e\u9000\u5e02\u539f\u56e0\uff0c\u9a6c\u4e91\u7684\u89e3\u91ca\u662f\u6709\u52a9\u4e8e\u516c\u53f8\u8f6c\u578b\u548c\u672a\u6765\u963f\u91cc\u5df4\u5df4\u96c6\u56e2\u7684\u6574\u4f53\u4e0a\u5e02\uff1a\u201c\u5c06\u963f\u91cc\u5df4\u5df4\u79c1\u6709\u5316\uff0c\u53ef\u8ba9\u6211\u4eec\u514d\u4e8e\u627f\u53d7\u62e5\u6709\u4e0a\u5e02\u516c\u53f8\u6240\u9700\u9762\u4e34\u7684\u538b\u529b\uff0c\u80fd\u591f\u5236\u5b9a\u5bf9\u5ba2\u6237\u6700\u6709\u5229\u7684\u957f\u8fdc\u89c4\u5212\u3002\u79c1\u6709\u5316\u8981\u7ea6\u4e5f\u53ef\u4e3a\u6211\u4eec\u7684\u80a1\u4e1c\u63d0\u4f9b\u4e00\u6b21\u5177\u6709\u5438\u5f15\u529b\u7684\u5957\u73b0\u673a\u4f1a\uff0c\u800c\u4e0d\u5fc5\u65e0\u9650\u671f\u7b49\u5019\u516c\u53f8\u5b8c\u6210\u8f6c\u578b\u3002\u201d<\/p>\n \u73b0\u5b9e\u60c5\u51b5\u5374\u590d\u6742\u5f97\u591a\u3002<\/p>\n \u6e2f\u80a1\u9000\u5e02\u524d\u540e\uff0c\u963f\u91cc\u5df4\u5df4\u63a5\u89e6\u591a\u5bb6\u91d1\u878d\u673a\u6784\uff0c\u5e0c\u671b\u7528\u51fa\u552e\u80a1\u4efd\u548c\u8d37\u6b3e\u7684\u65b9\u5f0f\u83b7\u5f97\u73b0\u91d1\uff0c\u4f46\u9a6c\u4e91\u540c\u65f6\u5f3a\u8c03\uff1a\u201c\u524d\u63d0\u662f\u963f\u91cc\u6240\u6709\u6743\u7ed3\u6784\u4e0d\u88ab\u4e00\u5bb6\u6216\u4e24\u5bb6\u5927\u80a1\u4e1c\u63a7\u5236\u201d\u3002<\/p>\n \u8fd9\u6b63\u662f\u6e2f\u80a1\u9000\u5e02\u5e55\u540e\u91cd\u8981\u7684\u8003\u91cf\u4e4b\u4e00\uff1a\u201c\u53bb\u96c5\u864e\u5316\u201d\u3002<\/p>\n \u8ba9\u963f\u91cc\u5df4\u5df4\u548c\u9a6c\u4e91\u611f\u5230\u4e0d\u5b89\u7684\u4e00\u70b9\uff0c\u662f\u53cc\u65b9\u57282005\u5e74\u7b7e\u7f72\u7684\u6295\u8d44\u534f\u8bae\u3002\u5f53\u65f6\u53cc\u65b9\u7ea6\u5b9a\uff0c\u52302010\u5e7410\u6708\uff0c\u96c5\u864e\u5c06\u83b7\u5f97\u4e0e\u80a1\u6743\u76f8\u7b49\u540c\u7684\u6295\u7968\u6743\uff0c\u537340%\u7684\u963f\u91cc\u5df4\u5df4\u6295\u7968\u6743\u3002\u5982\u6b64\uff0c\u9a6c\u4e91\u7b49\u7ba1\u7406\u5c42\u5c06\u4e0d\u654c\u96c5\u864e\uff0c\u5b58\u5728\u201c\u51fa\u5c40\u201d\u5371\u9669\u3002<\/p>\n \u963f\u91cc\u5df4\u5df4\u591a\u6b21\u8bd5\u56fe\u4ece\u96c5\u864e\u624b\u4e2d\u56de\u8d2d\u80a1\u4efd\uff0c\u4f46\u65f6\u4efb\u96c5\u864eCEO\u5361\u7f57\u5c14 \u5df4\u8328\uff08Carol Bartz\uff09\u4e0d\u613f\u653e\u624b\u8fd9\u652f\u6f5c\u529b\u80a1\u3002<\/p>\n \u91cd\u5851\u7ba1\u7406\u5c42\u63a7\u5236\u6743\uff0c\u52a0\u4e4b\u963f\u91cc\u5df4\u5df4\u6574\u4f53\u4e0a\u5e02\u7684\u9700\u6c42\uff0c\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u4fc3\u4f7f\u9a6c\u4e91\u7b49\u7ba1\u7406\u5c42\u51b3\u5fc3\u5c06\u963f\u91cc\u5df4\u5df4\u6d41\u901a\u5728\u5916\u7684\u516c\u4f17\u80a1\u4efd\u4e70\u56de\u6765\u3002<\/p>\n \u8fd9\u4e9b\u90fd\u662f2012\u5e74\u963f\u91cc\u5df4\u5df4\u9999\u6e2f\u9000\u5e02\u7684\u80cc\u666f\u58f0\u3002<\/p>\n \u4e09\u3001\u963f\u91cc\u5df4\u5df4\u5c31\u662f\u201c\u8d44\u672c\u201d<\/p>\n \u6458\u8981\uff1a20\u5e74\u65f6\u95f4\uff0c\u963f\u91cc\u5df4\u5df4\u4ece\u8d44\u672c\u5b66\u751f\u957f\u6210\u8d44\u672c\u6559\u7236\uff0c\u6e2f\u4ea4\u6240\u987a\u52bf\u201c\u62e5\u62b1\u201d\u963f\u91cc\u5df4\u5df4\u3002<\/strong><\/p>\n 1\u3001\u4e0d\u80fd\u59a5\u534f\u7684\u201c\u5408\u4f19\u4eba\u201d<\/strong><\/p>\n \u66f4\u91cd\u8981\u7684\u8fd8\u662f\u8bf4\u670d\u96c5\u864e\u51fa\u552e\u963f\u91cc\u80a1\u6743\uff0c\u8fd9\u4e00\u5207\u57282011\u5e74\u5e95\u51fa\u73b0\u8f6c\u673a\u3002<\/p>\n 2011\u5e749\u6708\uff0c\u5361\u7f57\u5c14\u00b7\u5df4\u8328\uff08Carol Bartz\uff09\u88ab\u96c5\u864e\u8463\u4e8b\u957f\u7f57\u4f0a\u00b7\u535a\u65af\u6258\u514b\uff08Roy Bostock\uff09\u7535\u8bdd\u901a\u77e5\u89e3\u96c7\u3002<\/p>\n \u540c\u4e00\u65f6\u671f\uff0c\u963f\u91cc\u5df4\u5df4\u542f\u52a8\u201c\u9ece\u660e\u8ba1\u5212\u201d\uff0c\u4ee5350\u4ebf\u7f8e\u5143\u7684\u4f30\u503c\u5411\u5305\u62ec\u4e91\u950b\u57fa\u91d1\uff08\u4ee5\u9a6c\u4e91\u548c\u865e\u950b\u7684\u540d\u5b57\u547d\u540d\uff09\u3001\u4fc4\u7f57\u65af\u98ce\u9669\u6295\u8d44\u516c\u53f8DST\u3001\u94f6\u6e56\u7b49\u57fa\u91d1\u516c\u53f8\u51fa\u552e\u90e8\u5206\u7ba1\u7406\u5c42\u53ca\u5458\u5de5\u6301\u80a1\uff0c\u6362\u676520\u4ebf\u7f8e\u5143\u3002<\/p>\n \u201c\u9ece\u660e\u8ba1\u5212\u201d\u4e0e\u540e\u6765\u62ab\u9732\u7684\u201c\u957f\u5f81\u8ba1\u5212\u201d\uff0c\u76ee\u7684\u90fd\u662f\u4e0d\u8ba9\u96c5\u864e\u593a\u8d70\u63a7\u5236\u6743\u3002\u65e0\u8bba\u65b9\u6cd5\u662f\u7b79\u96c6\u8d44\u91d1\u56de\u8d2d\u96c5\u864e\u80a1\u6743\uff0c\u8fdb\u884c\u963f\u91cc\u5df4\u5df4[1688.HK]\u79c1\u6709\u5316\uff08\u540c\u6837\u9700\u8981\u8d44\u91d1\uff09\uff0c\u8fd8\u662f\u5176\u4ed6\u65b9\u5f0f\u3002<\/p>\n 2012\u5e74\uff0c\u963f\u91cc\u5df4\u5df4\u5f00\u59cb\u4ee5\u201c\u4e0d\u88ab\u4e00\u5bb6\u6216\u4e24\u5bb6\u5927\u80a1\u4e1c\u6240\u63a7\u5236\u201d\u4e3a\u524d\u63d0\uff0c\u7ee7\u7eed\u63a5\u89e6\u4e2d\u56fd\u6295\u8d44\u6709\u9650\u8d23\u4efb\u516c\u53f8\u3001\u56fd\u5bb6\u5f00\u53d1\u94f6\u884c\u7b49\u673a\u6784\u8fdb\u884c\u878d\u8d44\u3002<\/p>\n 2012\u5e745\u6708\uff0c\u963f\u91cc\u5df4\u5df4\u4e0e\u96c5\u864e\u8fbe\u6210\u80a1\u6743\u56de\u8d2d\u534f\u8bae\uff0c\u963f\u91cc\u5df4\u5df4\u752863\u4ebf\u7f8e\u5143\u7684\u73b0\u91d1\u4e0e\u4e0d\u8d85\u8fc78\u4ebf\u7f8e\u5143\u7684\u4f18\u5148\u80a1\uff0c\u56de\u8d2d\u96c5\u864e\u6301\u6709\u7684\u4e00\u534a\u80a1\u6743\uff08\u7ea6\u5360\u963f\u91cc\u80a1\u6743\u768420%\uff09\u3002<\/p>\n \u53cc\u65b9\u8fd8\u7ea6\u5b9a\uff0c\u963f\u91cc\u5df4\u5df4\u5982\u57282015\u5e7412\u6708\u4e4b\u524d\u5b9e\u73b0\u6574\u4f53IPO\uff0c\u8fd8\u6709\u6743\u7ee7\u7eed\u56de\u8d2d\u96c5\u864e\u6301\u6709\u7684\u5269\u4f59\u80a1\u4efd\u4e2d\u7684\u4e00\u534a\uff08\u7ea6\u5360\u963f\u91cc\u80a1\u6743\u768410%\uff09\uff0c\u6216\u5141\u8bb8\u96c5\u864e\u5728IPO\u65f6\u5bf9\u5916\u51fa\u552e\u3002<\/p>\n \u6b64\u5916\uff0c\u963f\u91cc\u5df4\u5df4\u9700\u8981\u5411\u96c5\u864e\u4e00\u6b21\u6027\u652f\u4ed8\u6280\u672f\u4f7f\u7528\u8d395.5\u4ebf\u7f8e\u5143\u3002<\/p>\n 2012\u5e746\u6708\uff0c\u963f\u91cc\u5df4\u5df4[1688.HK]\u4ece\u9999\u6e2f\u5b8c\u6210\u9000\u5e02\u3002<\/p>\n 2013\u5e74\u6625\u8282\u521a\u8fc7\uff0c\u5e02\u573a\u4f20\u51fa\u6e2f\u4ea4\u6240\u3001\u7ebd\u4ea4\u6240\u3001\u7eb3\u65af\u8fbe\u514b\u90fd\u5728\u9080\u8bf7\u963f\u91cc\u5df4\u5df4\u8fdb\u884c\u6574\u4f53IPO\u3002\u5f53\u5e747\u6708\uff0c\u6709\u5a92\u4f53\u79f0\u963f\u91cc\u5df4\u5df4\u5df2\u5411\u6e2f\u4ea4\u6240\u63d0\u4ea4\u4e0a\u5e02\u7533\u8bf7\uff0c\u4f46\u201c\u5408\u4f19\u4eba\u201d\u5236\u5ea6\u6210\u4e3a\u62e6\u8def\u77f3\u3002<\/p>\n \u6309\u7167\u963f\u91cc\u5df4\u5df4\u5b98\u65b9\u8bf4\u6cd5\uff0c\u65e9\u57282010\u5e747\u6708\uff0c\u963f\u91cc\u5df4\u5df4\u5c31\u5efa\u7acb\u5408\u4f19\u4eba\u5236\u5ea6\uff0c\u201c\u4ee5\u4fdd\u5b58\u5176\u4f7f\u547d\u3001\u613f\u666f\u53ca\u4ef7\u503c\u89c2\u201d\u3002\u5efa\u7acb\u5408\u4f19\u4eba\u5236\u5ea6\u7684\u65f6\u95f4\uff0c\u6b63\u662f\u963f\u91cc\u5df4\u5df4\u4e0e\u96c5\u864e\u5c31\u80a1\u6743\u56de\u8d2d\u95ee\u9898\u6700\u7126\u707c\u4e4b\u9645\u3002<\/p>\n \u5728\u8fd9\u4e2a\u5236\u5ea6\u4e0b\uff0c\u201c\u5408\u4f19\u4eba\u201d\u6838\u5fc3\u56e2\u961f\u62e5\u6709\u63a8\u4e3e\u963f\u91cc\u5df4\u5df4\u8463\u4e8b\u4f1a\u591a\u6570\u7684\u6743\u529b\u3002\u5236\u5ea6\u672c\u8d28\u5728\u4e8e\uff1a\u9a6c\u4e91\u7b49\u7ba1\u7406\u5c42\u53ef\u4ee5\u5728\u80a1\u6743\u88ab\u8d44\u672c\u7a00\u91ca\u7684\u60c5\u51b5\u4e0b\uff0c\u4f9d\u7136\u4fdd\u7559\u5bf9\u516c\u53f8\u7684\u7edd\u5bf9\u63a7\u5236\u3002<\/p>\n 2013\u5e749\u6708\uff0c\u5b59\u6b63\u4e49\u516c\u5f00\u53d1\u58f0\uff0c\u652f\u6301\u963f\u91cc\u7684\u201c\u5408\u4f19\u4eba\u201d\u5236\u5ea6\u3002<\/p>\n \u5916\u754c\u5bf9\u4e8e\u5b59\u6b63\u4e49\u652f\u6301\u5408\u4f19\u4eba\u5236\u7684\u610f\u56fe\u4e0d\u5f97\u800c\u77e5\uff0c\u719f\u6089\u963f\u91cc\u5df4\u5df4\u7684\u9093\u80af\u00b7\u514b\u62c9\u514b (Duncan Clark)\u5728\u4ed6\u7684\u8457\u4f5cAlibaba: The House That Jack Ma Built(\u4e2d\u8bd1\u672c\u540d\u300a\u963f\u91cc\u5df4\u5df4:\u9a6c\u4e91\u548c\u4ed6\u7684102\u5e74\u68a6\u60f3\u300b)\u4e2d\u5206\u6790\uff1a\u9a6c\u4e91\u548c\u5b59\u6b63\u4e49\u4e4b\u95f4\u786e\u5b9e\u6709\u7406\u5ff5\u4e0d\u5408\u4e4b\u5904\uff0c\u4f46\u50cf\u8f6f\u94f6\u8fd9\u6837\u7684\u5916\u56fd\u516c\u53f8\u63a7\u5236\u963f\u91cc\u5df4\u5df4\u9762\u4e34\u5de8\u5927\u96be\u5ea6\uff0c\u800c\u4e14\u5b59\u6b63\u4e49\u8fd8\u8981\u8003\u8651\u4ed6\u7684\u6295\u8d44\u56de\u62a5\u3002<\/p>\n \u4f46\u6309\u7167\u5f53\u65f6\u9999\u6e2f\u7684\u76d1\u7ba1\u89c4\u5b9a\uff0c\u540c\u80a1\u5fc5\u987b\u540c\u6743\u3002<\/p>\n 2013\u5e7410\u67089\u65e5 \u9999\u6e2f\u8d22\u7ecf\u4e8b\u52a1\u53ca\u5e93\u52a1\u5c40\u5c40\u957f\u9648\u5bb6\u5f3a\u5728\u7acb\u6cd5\u4f1a\u4e0a\u8868\u793a\uff1a\u9999\u6e2f\u4e0a\u5e02\u89c4\u5219\u89c4\u5b9a\u4e0d\u80fd\u8bbe\u6709\u53cc\u91cd\u80a1\u6743\uff0c\u4e3a\u4e86\u4fdd\u969c\u6295\u8d44\u8005\u6743\u76ca\u5fc5\u987b\u575a\u6301\u201c\u540c\u80a1\u540c\u6743\u201d\u7684\u539f\u5219\uff0c\u73b0\u9636\u6bb5\u65e0\u8ba1\u5212\u63a8\u51fa\u9488\u5bf9\u4e0d\u540c\u80a1\u6743\u5236\u5ea6\u7684\u4e0a\u5e02\u89c4\u5219\u3002<\/p>\n \u963f\u91cc\u5df4\u5df4\u4e0d\u53ef\u80fd\u6539\u53d8\u201c\u5408\u4f19\u4eba\u201d\u5236\u5ea6\uff0c\u5728\u63a7\u5236\u6743\u4e0a\uff0c\u9a6c\u4e91\u5df2\u7ecf\u7ecf\u5386\u4e86\u592a\u591a\u3002\u8fd9\u4e00\u5e74\uff0c\u9999\u6e2f\u9519\u8fc7\u963f\u91cc\u5df4\u5df4\u3002<\/p>\n 2\u3001\u6e2f\u4ea4\u6240\u62e5\u62b1\u201c\u6559\u7236\u201d<\/strong><\/p>\n \u963f\u91cc\u5df4\u5df4\u968f\u5373\u8f6c\u5411\u7f8e\u56fd\u3002<\/p>\n 2014\u5e745\u6708\uff0c\u963f\u91cc\u5df4\u5df4\u5411\u7f8e\u56fdSEC\u63d0\u4ea4\u62db\u80a1\u8bf4\u660e\u4e66\u3002\u9a6c\u4e91\u5728\u963f\u91cc\u5df4\u5df4\u5185\u90e8\u90ae\u4ef6\u4e2d\u5ba3\u5e03\u8fd9\u4e00\u6d88\u606f\u65f6\uff0c\u76f8\u8f832007\u5e74\u7b2c\u4e00\u6b21\u9999\u6e2f\u4e0a\u5e02\u65f6\uff0c\u63aa\u8f9e\u5341\u5206\u6de1\u5b9a\u3002<\/p>\n \u9a6c\u4e91\u5728\u90ae\u4ef6\u4e2d\u8bf4\uff0c\u8d44\u672c\u5e02\u573a\u4e0d\u662f\u76ee\u6807\uff0c\u800c\u662f\u7b56\u7565\u548c\u624b\u6bb5\uff0c\u201c\u963f\u91cc\u4eba\u8981\u6e05\u9192\u7684\u8ba4\u8bc6\u5230\uff0c\u8d44\u672c\u5e02\u573a\u5de8\u5927\u5229\u76ca\u8bf1\u60d1\u80cc\u540e\u6709\u7740\u65e0\u6bd4\u5de8\u5927\u7684\u65e0\u60c5\u548c\u538b\u529b\u3002\u201d<\/p>\n 2014\u5e746\u670826\u65e5\uff0c\u963f\u91cc\u5df4\u5df4\u5411\u7f8e\u56fdSEC\u63d0\u4ea4\u6587\u4ef6\uff0c\u51b3\u5b9a\u963f\u91cc\u5df4\u5df4\u96c6\u56e2\u63a7\u80a1\u6709\u9650\u516c\u53f8\uff08AGHL\uff0cAlibaba Group Holding Limited\uff0c\u6ce8\u518c\u4e8e\u5f00\u66fc\u7fa4\u5c9b\uff09\u6574\u4f53\u5728\u7ebd\u7ea6\u8bc1\u5238\u4ea4\u6613\u6240\uff08NYSE\uff09\u4e0a\u5e02\u3002<\/p>\n 2014\u5e749\u670819\u65e5\uff0c\u963f\u91cc\u5df4\u5df4\u6b63\u5f0f\u5728\u7ebd\u4ea4\u6240\u6302\u724c\uff0c\u80a1\u7968\u4ee3\u7801\u201cBABA\u201d\u3002\u5171\u53d1\u884c\u7ea63.2\u4ebf\u80a1ADS\uff0c\u53d1\u884c\u4ef768\u7f8e\u5143\uff0c\u81f3\u5c11\u52df\u8d44217.7\u4ebf\u7f8e\u5143\uff0c\u6210\u4e3a\u53f2\u4e0a\u6700\u5927\u89c4\u6a21\u7684IPO\u3002<\/p>\n \u8fd9\u6b21IPO\u540c\u65f6\u521b\u9020\u4e86\u4e2d\u65e5\u4e24\u56fd\u7684\u9996\u5bcc\u2014\u2014\u9a6c\u4e91\u548c\u5b59\u6b63\u4e49\u3002<\/p>\n \u518d\u56de\u5230\u4e94\u5e74\u524d\u76842014\u5e743\u670816\u65e5\uff0c\u963f\u91cc\u5df4\u5df4\u5ba3\u5e03\u653e\u5f03\u6e2f\u4ea4\u6240\u5728\u7f8e\u56fd\u4e0a\u5e02\u65f6\uff0c\u5df2\u7ecf\u9884\u57cb\u4e86\u4eca\u5929\u7684\u60c5\u666f\uff1a\u201c\u672a\u6765\u6761\u4ef6\u5141\u8bb8\uff0c\u6211\u4eec\u5c06\u79ef\u6781\u53c2\u4e0e\u56de\u5f52\u56fd\u5185\u8d44\u672c\u5e02\u573a\uff0c\u4e0e\u56fd\u5185\u6295\u8d44\u8005\u5171\u540c\u5206\u4eab\u516c\u53f8\u7684\u6210\u957f\u3002\u201d<\/p>\n \u5176\u5b9e\u201c\u963f\u91cc\u201d\u8fd9\u4e2a\u540d\u5b57\u5e76\u6ca1\u6709\u5728\u6e2f\u80a1\u6d88\u5931\u592a\u4e45\u30022014\u5e746\u6708\uff0c\u963f\u91cc\u5f71\u4e1a\u501f\u58f3\u6587\u5316\u4e2d\u56fd\u767b\u9646\u6e2f\u80a1\uff1b2014\u5e7410\u6708\uff0c\u6e2f\u80a1\u4e0a\u5e02\u516c\u53f8\u4e2d\u4fe121\u4e16\u7eaa\u66f4\u540d\u4e3a\u963f\u91cc\u5065\u5eb7\u3002<\/p>\n 2018\u5e745\u670818\u65e5\uff0c\u5728\u9999\u6e2f\u5927\u5b66\u4e3e\u884c\u7b2c199\u5c4a\u5b66\u4f4d\u9881\u6388\u5178\u793c\uff0c\u9a6c\u4e91\u5e94\u9080\u53d1\u8a00\uff1a\u201c\u5168\u4e16\u754c\u8fd9\u4e48\u591a\u8d85\u68d2\u7684\u57ce\u5e02\uff0c\u9999\u6e2f\u662f\u6211\u89c1\u8fc7\u7684\u5176\u4e2d\u6700\u597d\u7684\u3002\u540c\u65f6\uff0c\u9999\u6e2f\u662f\u6211\u6bcf\u5e74\u6765\u5f97\u6b21\u6570\u6700\u591a\u7684\u5730\u65b9\u4e4b\u4e00\uff0c\u4ec5\u6b21\u4e8e\u6211\u7684\u5bb6\u4e61\u676d\u5dde\u3002\u201d<\/p>\n \u8d44\u672c\u4e0e\u4ea7\u4e1a\u7684\u6df1\u5ea6\u7ed1\u5b9a\uff0c\u4ea7\u4e1a\u6700\u7ec8\u53d1\u5c55\u4e3a\u8d44\u672c\u7684\u805a\u5408\u4f53\uff0c\u8fd9\u662f\u65b0\u7ecf\u6d4e\u7684\u663e\u8457\u7279\u8d28\u3002\u963f\u91cc\u5df4\u5df4\u4e0d\u662f\u7b2c\u4e00\u4e2a\uff0c\u4e5f\u4e0d\u662f\u6700\u540e\u4e00\u4e2a\u3002<\/p>\n \u4ee5\u8d44\u672c\u89c6\u89d2\u6765\u770b\uff0c\u963f\u91cc\u5df4\u5df4\uff08\u542b\u8682\u8681\u91d1\u670d\uff09\u62ff\u5168\u4e86\u4fdd\u9669\u3001\u8bc1\u5238\u3001\u94f6\u884c\u3001\u57fa\u91d1\u3001\u652f\u4ed8\u3001\u57fa\u91d1\u9500\u552e\u3001\u5c0f\u8d37\u3001\u5f81\u4fe1\u7b49\u5404\u5927\u91d1\u878d\u724c\u7167\u3002\u4ece\u4ea7\u4e1a\u5c42\u9762\u89c2\u5bdf\uff0c\u963f\u91cc\u5df4\u5df4\u80cc\u9760\u4e00\u4e2a\u7a7a\u95f4\u5e7f\u9614\u7684\u4e92\u8054\u7f51\u5e02\u573a\uff0c\u8fd8\u6709\u201c\u5408\u4f19\u4eba\u201d\u5236\u5ea6\u8fd9\u4e2a\u516c\u53f8\u6cbb\u7406\u57fa\u77f3\u3002\u9999\u6e2f\u3001\u7ebd\u7ea6\uff0c\u7ebd\u7ea6\u3001\u9999\u6e2f\uff0c\u5b83\u5728\u8d44\u672c\u5e02\u573a\u5df2\u7ecf\u8fdb\u51fa\u6709\u636e\u3001\u6e38\u5203\u6709\u4f59\u3002<\/p>\n \u7535\u5f71\u300a\u6559\u7236\u300b\u4e2d\u6709\u4e00\u53e5\u540d\u8a00\uff0c\u201c\u6211\u5c06\u7ed9\u4ed6\u4e00\u4e2a\u4ed6\u65e0\u6cd5\u62d2\u7edd\u7684\u7406\u7531\u3002\u201d\u963f\u91cc\u5df4\u5df4\u752820\u5e74\u7684\u6210\u957f\u7ed9\u51fa\u7b54\u6848\uff1a\u8fd9\u4e2a\u7406\u7531\u5c31\u662f\u201c\u8d44\u672c\u201d\u3002<\/p>\n \u6e2f\u4ea4\u6240\u540e\u6765\u542f\u52a8\u6539\u9769\uff0c2018\u5e747\u6708\uff0c\u5c0f\u7c73\u6210\u4e3a\u6e2f\u4ea4\u6240\u9996\u5bb6\u540c\u80a1\u4e0d\u540c\u6743\u7684\u4e0a\u5e02\u516c\u53f8\u3002<\/p>\n \u6e2f\u4ea4\u6240\u987a\u52bf\u201c\u62e5\u62b1\u201d\u6559\u7236\u963f\u91cc\u5df4\u5df4\u3002<\/p>\n\u62fc\u591a\u591a\u8fd1\u5e74\u6765\u90e8\u5206\u8d22\u52a1\u6570\u636e\uff08\u6765\u6e90\uff1aWind \u6570\u636e\u65f6\u95f4\uff1a2019\u5e7411\u670823\u65e5\uff09<\/i><\/p>\n
\u963f\u91cc\u5df4\u5df42019\u5e74\u4e8c\u5b63\u5ea6\u5206\u4e1a\u52a1\u677f\u5757\u6536\u5165\u548c\u5229\u6da6\u60c5\u51b5\uff08\u6765\u6e90\uff1a\u62db\u80a1\u8bf4\u660e\u4e66\uff09<\/p>\n
\u963f\u91cc\u5df4\u5df4\uff08\u542b\u8682\u8681\u91d1\u670d\uff09\u4e3b\u8981\u4e1a\u52a1\u4f53\u7cfb\uff08\u56fe\u7247\u6765\u6e90\uff1a\u62db\u80a1\u8bf4\u660e\u4e66\uff09<\/p>\n
1999\u5e746\u670819\u65e5 \u9a6c\u4e91\u548c\u8521\u5d07\u4fe1\u6cdb\u821f\u897f\u6e56\uff08\u56fe\u7247\u6765\u6e90\uff1aforbes.com\uff09<\/p>\n
\u9a6c\u4e91\u59bb\u5b50\u5f20\u82f1\uff08\u97f3\uff09\u3001\u6768\u81f4\u8fdc\u3001\u9a6c\u4e911997\u5e74\u6e38\u89c8\u957f\u57ce\u5408\u5f71\uff08\u56fe\u7247\u6765\u6e90\uff1aHeather Killen\uff0c\u8f6c\u5f15\u81eaAlibaba: The House That Jack Ma Built\uff09<\/p>\n
2007\u5e7410\u67086\u65e5 \u9a6c\u4e91\u5728\u9999\u6e2f\u8054\u4ea4\u6240\u5bf9\u5a92\u4f53\u8bb2\u8bdd\uff08\u56fe\u7247\u6765\u6e90\uff1asina.com\uff09<\/p>\n
\u963f\u91cc\u5df4\u5df4[1688.HK]2007\u5e74\u5168\u7403\u53d1\u552e\u5b8c\u6210\u65f6VIE\u7ed3\u6784\uff08\u56fe\u7247\u6765\u6e90\uff1a\u62db\u80a1\u8bf4\u660e\u4e66\uff09<\/p>\n
\u963f\u91cc\u5df4\u5df4[1688.HK]\u4e0a\u5e02\u671f\u95f4\uff082007.11-2012.6\uff09\u80a1\u4ef7\u4e0e\u6210\u4ea4\u91cf\uff08\u6570\u636e\u6765\u6e90\uff1aWind\uff09<\/p>\n
\u963f\u91cc\u5df4\u5df4\uff08AGHL\uff09\u6574\u4f53\u7ebd\u4ea4\u6240IPO\u524d\u80a1\u6743\u7ed3\u6784\uff08\u6570\u636e\u6765\u6e90\uff1a\u62db\u80a1\u8bf4\u660e\u4e66\uff09<\/p>\n
2018\u5e745\u6708\u9999\u6e2f\u5927\u5b66\u6388\u4e88\u9a6c\u4e91\u540d\u8a89\u535a\u58eb\u5b66\u4f4d\uff08\u56fe\u7247\u6765\u6e90\uff1anews.cn\uff09<\/p>\n