{"id":57520,"date":"2025-09-17T13:52:32","date_gmt":"2025-09-17T13:52:32","guid":{"rendered":"https:\/\/www.tyjzk.com\/?p=158403"},"modified":"2025-09-17T14:00:02","modified_gmt":"2025-09-17T14:00:02","slug":"%e6%96%b0%e8%8c%b6%e9%a5%ae-%e5%89%af%e4%b8%9a-%e6%b7%b7%e6%88%98%ef%bc%9a%e4%bb%8e%e4%b8%80%e4%b8%aa%e7%ba%a2%e6%b5%b7%e5%8d%b7%e5%90%91%e5%8f%a6%e4%b8%80%e4%b8%aa%e7%ba%a2%e6%b5%b7","status":"publish","type":"post","link":"https:\/\/www.tyjzk.com\/?p=57520","title":{"rendered":"\u65b0\u8336\u996e \u201c\u526f\u4e1a\u201d \u6df7\u6218\uff1a\u4ece\u4e00\u4e2a\u7ea2\u6d77\u5377\u5411\u53e6\u4e00\u4e2a\u7ea2\u6d77"},"content":{"rendered":"
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\"\"<\/section>\n
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1<\/h4>\n

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\"\"<\/section>\n
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\"\"<\/section>\n

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\"\"<\/section>\n
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\u5377\u4e86\u591a\u5e74\uff0c\u65b0\u8336\u996e\u54c1\u724c\u4eec\u7ec8\u4e8e\u628a\u526f\u4e1a\u4e5f\u5377\u5230\u4e94\u82b1\u516b\u95e8\u3002<\/span><\/font><\/p>\n

2<\/h4>\n

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\u6570\u636e\u663e\u793a\uff0c<\/span>\u4e2d\u56fd\u5976\u8336\u5e02\u573a\u6b63\u8fdb\u5165\u6b8b\u9177\u7684\u5b58\u91cf\u7ade\u4e89\u9636\u6bb5<\/span>\u3002\u636e<\/span><\/font>\u201c\u7a84\u95e8\u9910\u773c\u201d\u7edf\u8ba1\uff0c\u622a\u81f32025\u5e748\u670815\u65e5\uff0c\u5168\u56fd\u5976\u8336\u996e\u54c1\u95e8\u5e97\u603b\u657042.9\u4e07\u5bb6\uff0c\u8fd1\u4e00\u5e74\u65b0\u5f0011.6\u4e07\u5bb6\uff0c\u540c\u65f6\u7ea6\u670915\u4e07\u5bb6\u95e8\u5e97\u5173\u95ed\uff0c\u6574\u4f53\u8d1f\u589e\u957f3.4\u4e07\u5bb6\uff0c<\/span>\u5f00\u5e97\u5feb\u3001\u5173\u5e97\u66f4\u5feb\u5df2\u6210\u5e38\u6001<\/span>\u3002<\/span><\/font><\/p>\n

\u53e6\u636e\u827e\u745e\u54a8\u8be2\u9884\u6d4b\uff0c<\/span><\/font>2023\u5e74\u81f32025\u5e74\uff0c\u4e2d\u56fd\u65b0\u8336\u996e\u884c\u4e1a\u56fd\u5185\u5e02\u573a\u589e\u901f\u5c06\u4f9d\u6b21\u964d\u81f313.4%\u30016.4%\u548c5.7%\uff0c\u589e\u901f<\/span>\u582a\u79f0<\/span><\/font>\u8170\u65a9<\/span><\/font>\uff0c<\/span><\/font>\u5e02\u573a\u589e\u91cf\u7a7a\u95f4\u9010\u6b65\u89c1\u9876<\/span><\/font>\uff0c\u8fdb\u5165\u62a2\u5b58\u91cf\u7528\u6237\u7684\u7ea2\u6d77\u9636\u6bb5\u3002<\/span><\/font><\/p>\n

2025\u5e74\u4ee5\u6765\u7684\u5916\u5356\u8865\u8d34\u5927\u6218\uff0c\u66f4\u662f\u5c06<\/span>\u65b0\u8336\u996e\u7684<\/span><\/font>\u7126\u8651\u63a8\u5411<\/span><\/font>\u9ad8\u6f6e<\/span><\/font>\u3002\u4eac\u4e1c\u3001\u7f8e\u56e2\u3001\u6dd8\u5b9d\u95ea\u8d2d\u63a5\u8fde\u53d1\u8d77\u591a\u8f6e\u8865\u8d34\u5bf9\u653b\uff0c<\/span><\/font>\u4f8b\u5982\u7f8e\u56e2\u901a\u5e38\u4f1a\u5728\u5468\u516d\u53d1\u653e\u514d\u8d39\u81ea\u53d6\u5238\uff0c\u4e00\u5ea6\u628a\u90e8\u5206\u8336\u996e\u95e8\u5e97<\/span><\/font>\u201c\u903c\u201d\u5230\u6682\u505c\u8425\u4e1a\uff0c\u9a91\u624b\u4eb2\u81ea\u4e0a\u624b\u201c\u6447\u5976\u8336\u201d\u3002<\/span><\/font><\/p>\n

\u5bf9\u6d88\u8d39\u8005\u800c\u8a00\uff0c\u8fd9\u662f<\/span><\/font>\u201c\u8585\u7f8a\u6bdb\u201d\u7684<\/span><\/font><\/span>\u72c2\u6b22\u3002<\/span><\/font><\/span>\u4f46\u5bf9\u54c1\u724c\u800c\u8a00\uff0c\u5374\u662f\u4e1a\u7ee9\u5206\u5316\u52a0\u5267<\/span><\/font><\/span>\u7684\u53d8\u91cf<\/span><\/font><\/span>\u3002<\/span><\/font><\/p>\n

\u5728\u8fd9\u573a\u6df7\u6218\u4e2d\uff0c\u65b0\u8336\u996e\u4e1a<\/span><\/font>6\u5bb6\u4e0a\u5e02\u516c\u53f8\u7684\u8d70\u5411\u622a\u7136\u4e0d\u540c\u3002\u9664\u5948\u96ea\u4ecd\u4e8f\u635f\u5916\uff0c\u5176\u4ed6\u4e94\u5bb6\u5168\u90fd\u5b9e\u73b0\u76c8\u5229\u3002\u5176\u4e2d\uff0c\u871c\u96ea\u51b0\u57ce\u3001\u53e4\u8317\u3001\u8336\u767e\u9053\u3001\u6caa\u4e0a\u963f\u59e8\u7684\u51c0\u5229\u6da6\u589e\u5e45\u5747\u4fdd\u6301\u572820%\u4ee5\u4e0a\uff0c\u9738\u738b\u8336\u59ec\u7684\u589e\u901f\u57ab\u5e95\uff0c\u80cc\u540e\u662f\u9738\u738b\u8336\u59ec\u4e0d\u53c2\u4e0e\u8865\u8d34\u6218\uff0c\u8bd5\u56fe\u51ed\u501f\u54c1\u724c\u5dee\u5f02\u5316\u8d62\u5f97\u5e02\u573a\u3002<\/span><\/font><\/p>\n

\u867d\u8bf4\u8fd9\u79cd\u77ed\u671f\u8865\u8d34\u4e3b\u5bfc\u7684\u7ade\u4e89\u884c\u4e3a\uff0c\u957f\u671f\u57fa\u672c\u4e0d\u53ef\u6301\u7eed\uff0c\u4f46\u9738\u738b\u8336\u59ec\u8fd9\u4e00\u7b56\u7565\u5728\u8d22\u52a1\u5c42\u9762\u5df2\u7ecf\u4ed8\u51fa\u4e86\u4ee3\u4ef7\u3002<\/span><\/font><\/p>\n

\u5176<\/span><\/font>2025\u4e0a\u534a\u5e74\u5b9e\u73b0\u8425\u653667.25\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f21.61%\uff1b\u5b9e\u73b0\u51c0\u5229\u6da67.55\u4ebf\u5143\uff0c\u540c\u6bd4\u4e0b\u964d38.32%\u3002\u82e5\u6309\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\uff08non-GAAP\uff09\u8ba1\u7b97\uff0c\u7ecf\u8c03\u6574\u51c0\u522913.07\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f6.78%\u3002\u82e5\u6839\u636eGAAP\u51c6\u5219\uff0c\u4e8c\u5b63\u5ea6\u51c0\u5229\u6da6\u4ec57723.8\u4e07\u5143\uff0c\u540c\u6bd4\u7f29\u6c3487.7%\u3002<\/span><\/font><\/p>\n

\u5c3d\u7ba1\u516c\u53f8\u89e3\u91ca\uff0c\u4e0b\u964d\u4e3b\u56e0\u662f\u4e0a\u5e02\u76f8\u5173\u7684\u4e00\u6b21\u6027\u80a1\u4efd\u85aa\u916c\u53ca\u6fc0\u52b1\u8d39\u7528\u7684\u786e\u8ba4\u3002\u5254\u9664\u4e00\u6b21\u6027\u5f71\u54cd\u540e\uff0c\u51c0\u5229\u6da6\u7ea6<\/span><\/font>6.298\u4ebf\u5143\uff0c\u540c\u6bd4\u5fae\u589e0.1%\uff0c\u8f832025\u5e74\u4e00\u5b63\u5ea6\u6709\u6240\u56de\u843d\u3002<\/span><\/font><\/p>\n

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\u9738\u738b\u8336\u59ec<\/span><\/font>CFO\u9ec4\u9e3f\u98de\u5728\u4e1a\u7ee9\u8d22\u62a5\u4f1a\u8bae\u4e0a\u4e5f\u5766\u8a00\uff0c\u5916\u5356\u5e73\u53f0\u4ef7\u683c\u6218\u7684\u52a0\u5267\uff0c\u5bfc\u81f4\u90e8\u5206\u5ba2\u6e90\u88ab\u6682\u65f6\u5206\u6d41\uff0c\u4ece\u800c\u5f71\u54cd\u4e86\u9500\u552e\u8868\u73b0\u3002\u540c\u65f6\u9738\u738b\u8336\u59ec\u56fd\u5185\u95e8\u5e97\u7684\u6708\u5747GMV\u4ece54.9\u4e07\u5143\u964d\u81f340.4\u4e07\u5143\uff0c\u8fde\u7eed\u516d\u4e2a\u5b63\u5ea6\u4e0b\u964d\u3002<\/span><\/font><\/p>\n

\u5bf9\u6b64\uff0c\u5e02\u573a\u7ed9\u51fa\u4e86\u76f4\u63a5\u7684\u53cd\u5e94\u3002\u8d22\u62a5\u6b21\u65e5\uff0c\u516c\u53f8\u80a1\u4ef7\u4e0b\u8dcc<\/span><\/font>13.14%\u3002\u622a\u6b62\u7f8e\u4e1c9\u670810\u65e5\u6536\u76d8\u62a5\u653617.01\u7f8e\u5143\uff0c\u8f8328\u7f8e\u5143\u53d1\u884c\u4ef7\u7d2f\u8ba1\u7f29\u6c3439.25%\uff0c\u8ddd\u79bb\u5176\u4e0a\u5e02\u4ec5\u8fc7\u53bb4\u4e2a\u591a\u6708\u3002<\/span><\/font><\/p>\n

\u8336\u996e\u5e02\u573a\u7ade\u4e89\u767d\u70ed\u5316\uff0c\u5f7c\u6b64\u4e4b\u95f4\u7684\u58c1\u5792\u5e76\u4e0d\u9ad8\uff0c\u63a8\u51fa\u65b0\u996e\u54c1\u7684\u4e0d\u786e\u5b9a\u6027\u6781\u9ad8\uff0c\u65b0\u5947\u4e14\u53d7\u6b22\u8fce\u7684\u53e3\u5473\u548c\u5143\u7d20\u51e0\u4e4e\u88ab\u6316\u6398\u6b86\u5c3d\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c<\/span>\u5411\u5916\u5bfb\u627e\u589e\u91cf\u6210\u4e86\u66f4\u5177\u6027\u4ef7\u6bd4\u7684\u9009\u9879\u3002<\/span><\/font><\/p>\n

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3<\/span><\/font><\/b><\/b><\/h4>\n

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\u5c24\u5176\u5f53\u4e3b\u4e1a\u4ecd\u5904\u7ea2\u6d77\u7ade\u4e89\u3001\u4e9f\u9700\u6301\u7eed\u6295\u5165\u4e4b\u65f6\uff0c\u526f\u4e1a\u672c\u5e94\u662f\u589e\u5f3a\u6297\u98ce\u9669\u80fd\u529b\u7684<\/span><\/font>\u201c\u7b2c\u4e8c\u5f15\u64ce\u201d\uff0c\u800c\u4e0d\u5e94\u53d8\u6210\u6d88\u8017\u73b0\u91d1\u3001\u5206\u6563\u7cbe\u529b\u7684\u201c\u957f\u6218\u7ebf\u201d\u3002<\/span><\/font><\/p>\n

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\u4f5c\u8005 | \u5218\u840d<\/section>\n

\u7f16\u8f91 | \u675c\u4ef2<\/section>\n
\u6765\u6e90 | \u89c2\u6f6e\u65b0\u6d88\u8d39\uff08ID\uff1aTideSight\uff09<\/section>\n<\/p>\n
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