\u505a\u7535\u5546\u7684\u3001\u505a\u4e92\u8054\u7f51\u7684\u51e0\u4e4e\u79bb\u4e0d\u5f00\u963f\u91cc\uff0c\u6bd5\u7adf\uff0c\u662f\u7ebf\u4e0a\u5de8\u5934\uff0c\u751a\u81f3\u8fde\u56fd\u5bb6\u7edf\u8ba1\u5c40\u7ebf\u4e0a\u793e\u4f1a\u6d88\u8d39\u54c1\u96f6\u552e\u603b\u989d\u90fd\u4ee5\u963f\u91cc\u6570\u636e\u4e3a\u4e3b\u8981\u53e3\u5f84\u6765\u6e90\u3002<\/p>\n
\u963f\u91cc\u5230\u5e95\u662f\u4e00\u5bb6\u4ec0\u4e48\u516c\u53f8\uff1f\u8bf4\u5b9e\u8bdd\uff0c\u8fd9\u4e2a\u95ee\u9898\u786e\u5b9e\u5f88\u96be\u56de\u7b54\uff0c\u56e0\u4e3a\u963f\u91cc\u7684\u4e1a\u52a1\u6bd4\u8f83\u591a\uff0c\u800c\u5e02\u573a\u4e0a\u5173\u4e8e\u963f\u91cc\u7684\u58f0\u97f3\u4e5f\u786e\u5b9e\u6bd4\u8f83\u6742\uff0c\u6709\u5173\u8bdd\u9898\u4e5f\u6bd4\u8f83\u201c\u9ad8\u5927\u4e0a\u201d\u3002<\/p>\n
\u5176\u5b9e\uff0c\u76f8\u5bf9\u9760\u8c31\u7684\u89e3\u91ca\u53ef\u4ee5\u6839\u636e\u5b98\u65b9\u8d22\u62a5\u6765\u5206\u6790\uff0c\u6bd5\u7adf\uff0c\u6709\u5173\u94b1\u7684\u4e1c\u897f\u6700\u80fd\u53cd\u6620\u516c\u53f8\u4e1a\u52a1\u3002\u8fd9\u6b21\u56fd\u7199\u629b\u7816\u5f15\u7389\uff0c\u4e0d\u6c42\u6b63\u89e3\uff0c\u7b80\u5355\u804a\u804a\u963f\u91cc\u7684\u8d22\u62a5\u3002<\/p>\n
\u6700\u8fd1\u804a\u5929\u53d1\u73b0\u4e86\u4e00\u4e2a\u5c0f\u89c4\u5f8b\uff1a\u4e0d\u61c2\u7535\u5546\u7684\u4eba\u8bf4\u8d77\u963f\u91cc\u5c31\u662f\u5929\u732b\u6dd8\u5b9d\uff0c\u7565\u61c2\u4e00\u70b9\u7684\u5c31\u662f\u8bf4\u6d41\u91cf\u5165\u53e3\uff0c\u518d\u61c2\u4e00\u70b9\u5c31\u662f\u5e73\u53f0\u7535\u5546\u3001\u751f\u6001\u5708\uff0c\u66f4\u61c2\u4e00\u70b9\u5c31\u5f00\u59cb\u55b7\u65b0\u96f6\u552e\u3001\u7ebf\u4e0a\u7ebf\u4e0b\u878d\u5408\u4e86\u3002\u600e\u4e48\u611f\u89c9\u804a\u963f\u91cc\uff0c\u5c31\u597d\u50cf\u5728\u8bfb\u838e\u58eb\u6bd4\u4e9a\uff0c\u201c\u4e00\u5343\u4e2a\u8bfb\u8005\u773c\u91cc\u6709\u4e00\u5343\u4e2a\u963f\u91cc\u5df4\u5df4\u201d\uff1f<\/p>\n
\u56fd\u7199\u8ba4\u4e3a\uff0c\u4e0d\u7ba1\u662f\u6218\u7565\uff0c\u8fd8\u662f\u8fd0\u8425\u5b9e\u64cd\uff0c\u8c01\u4e5f\u4e0d\u6562\u5984\u79f0\u81ea\u5df1\u662f\u884c\u4e1a\u4e13\u5bb6\u3002\u4e0e\u5176\u9ad8\u8c08\u9614\u8bba\u778e\u626f\u6de1\uff0c\u4e0d\u5982\u5b9e\u5b9e\u5728\u5728\u505a\u4e00\u4e9b\u5e96\u4e01\u89e3\u725b\u822c\u7684\u8d22\u62a5\u5206\u6790\u3002<\/p>\n
\u963f\u91cc\u662f\u4e00\u5bb6\u4ec0\u4e48\u6837\u7684\u516c\u53f8\uff0c\u60f3\u5fc5\u6240\u8c13\u7684\u201c\u4e1a\u754c\u5927\u62ff\u201d\u4e5f\u6ca1\u6709\u529e\u6cd5\u51e0\u53e5\u8bdd\u8bf4\u5f97\u6e05\u695a\uff0c\u8fd8\u4e0d\u5982\u5206\u6790\u8d22\u62a5\u6765\u5f97\u5b9e\u5728\u3002<\/p>\n
GMV\uff08\u4ea4\u6613\u989d\uff09\u662f\u6d41\u6c34\uff0c\u53cd\u6620\u7684\u662f\u516c\u53f8\u7684\u5e02\u573a\u89c4\u6a21\u548c\u5360\u6709\u7387\uff0c\u800c\u8425\u4e1a\u6536\u5165\uff08Revenue\uff09\u662f\u5b9e\u6253\u5b9e\u7684\u6536\u5165\uff0c\u4ee3\u8868\u5e02\u573a\u9700\u6c42\u7684\u8ba4\u53ef\u548c\u53cd\u9988\u3002\u4ece\u8fd9\u4e2a\u89d2\u5ea6\u770b\uff0c\u8425\u6536\u66f4\u80fd\u4ee3\u8868\u4e00\u5bb6\u516c\u53f8\u7684\u4e1a\u52a1\u7ed3\u6784\u3002<\/p>\n
\u6839\u636e\u963f\u91cc\u6700\u65b0\u8d22\u62a5\uff0c16\u5e74Q4\u8425\u6536532.48\u4ebf\u5143\uff0c\u8425\u6536\u6765\u6e90\u4e3a\u6838\u5fc3\u7535\u5546\u4e1a\u52a1\u3001\u6570\u5b57\u5a92\u4f53\u4e0e\u5a31\u4e50\u3001\u4e91\u8ba1\u7b97\u3001\u521b\u65b0\u4e1a\u52a1\u7b49\u3002\u5176\u4e2d\uff0c88%\u7684\u8425\u6536\u6765\u81ea\u4e8e\u6838\u5fc3\u7535\u5546\u4e1a\u52a1\uff0c\u8fbe\u5230466\u4ebf\u5143\uff0c\u51e0\u4e4e\u5360\u52309\u6210\u3002\u56e0\u6b64\uff0c\u53ef\u4ee5\u8bf4\u963f\u91cc\u76ee\u524d\u8fd8\u662f\u4e00\u5bb6\u7535\u5546\u4e1a\u52a1\u4e3a\u4e3b\u7684\u516c\u53f8\uff0c\u4e91\u8ba1\u7b97\u3001\u6570\u5b57\u5a92\u4f53\u4e0e\u5a31\u4e50\u8fd8\u5904\u5728\u53d1\u5c55\u9636\u6bb5\u3002<\/p>\n
\n
\u25b2 DonG\u6839\u636e\u963f\u91cc16\u5e74Q4\u8d22\u62a5\u6574\u7406<\/p>\n
\u518d\u6765\u770b\u770b\u6838\u5fc3\u7535\u5546\u4e1a\u52a1\u90fd\u5305\u62ec\u4ec0\u4e48\uff1f\u5206\u4e3a\u56db\u4e2a\u90e8\u5206\uff1a<\/p>\n
\uf06e\u00a0\u56fd\u5185\u7535\u5546\u96f6\u552e\u4e1a\u52a1\uff1a\u6dd8\u5b9d\u3001\u5929\u732b\u3001\u805a\u5212\u7b97\u3001\u95f2\u9c7c\u3001\u6751\u6dd8\u7b49<\/p>\n
\uf06e\u00a0\u56fd\u5185\u7535\u5546\u6279\u53d1\u4e1a\u52a1\uff1a\u963f\u91cc\u5df4\u5df4\u7f51<\/p>\n
\uf06e\u00a0\u56fd\u9645\u7535\u5546\u96f6\u552e\u4e1a\u52a1\uff1a\u5929\u732b\u56fd\u9645\u3001\u5168\u7403\u901f\u5356\u901a\u3001Lazada\u7b49<\/p>\n
\uf06e\u00a0\u56fd\u9645\u7535\u5546\u6279\u53d1\u4e1a\u52a1\uff1a\u963f\u91cc\u5df4\u5df4\u7f51<\/p>\n
\u53ef\u4ee5\u770b\u5230\uff0c\u56fd\u5185\u7535\u5546\u96f6\u552e+\u56fd\u5185\u7535\u5546\u6279\u53d1\u4e1a\u52a1\u5360\u6bd4\u6574\u4f53\u8425\u6536\u768480%\u5de6\u53f3\uff0c\u800c\u5176\u4e2d96%\u7684\u8425\u6536\u6765\u81ea\u56fd\u5185\u7535\u5546\u96f6\u552e\u4e1a\u52a1\uff0c\u5373\u6765\u81ea\u4e8e\u6dd8\u5b9d\u3001\u5929\u732b\u3001\u805a\u5212\u7b97\u7b49\u5b50\u4e1a\u52a1\uff0c\u5360\u6bd477%\u7684\u8425\u6536\uff0c\u53ef\u4ee5\u8bf4\u662f\u963f\u91cc\u5927\u90e8\u5206\u7684\u8425\u6536\u6765\u6e90\u3002<\/p>\n
\u963f\u91cc\u7535\u5546\u96f6\u552e\u7684\u8425\u6536\u6765\u6e90\u4e3b\u8981\u5305\u62ec\u7ebf\u4e0a\u5e02\u573a\u670d\u52a1\uff08online marketing services\uff09\u548c\u4ea4\u6613\u4f63\u91d1\uff08commissions on transactions\uff09\uff0c\u5bf9\u4e8e\u963f\u91cc\u8fd9\u6837\u7684\u5e73\u53f0\u578b\u7535\u5546\u6765\u8bf4\uff0c\u5176\u5b9e\u53ef\u4ee5\u7406\u89e3\u4e3a\u5e7f\u544a\u8d39\u3002<\/p>\n
\u5982\u6b64\u770b\u6765\uff0c\u5c3d\u7ba1\u5e02\u573a\u4e0a\u5173\u4e8e\u963f\u91cc\u7684\u62a5\u9053\u7279\u522b\u6742\uff0c\u4e5f\u633a\u9ad8\u5927\u4e0a\u7684\uff0c\u4ec0\u4e48\u56fd\u5bb6\u6218\u7565\u3001\u5168\u7403\u5316\u3001\u56fd\u9645\u5316\u7b49\u90fd\u6709\u3002\u4f46\u4ece\u8425\u6536\u7ed3\u6784\u4e0a\u770b\uff0c\u963f\u91cc\u76ee\u524d\u8fd8\u662f\u4e00\u5bb6\u4ee5\u56fd\u5185\u96f6\u552e\u4e1a\u52a1\u4e3a\u4e3b\u7684\u7535\u5546\u516c\u53f8\uff0c\u5f53\u7136\u4e5f\u662f\u8425\u6536\u89c4\u6a21\u5f88\u4e0d\u9519\u7684\u4e92\u8054\u7f51\u4f01\u4e1a\u3002<\/p>\n
\n
\u25b2 DonG\u6839\u636e\u963f\u91cc\u5386\u5e74\u8d22\u62a5\u6574\u7406<\/p>\n
\u4ece\u4e0a\u56fe\u770b\uff0c\u8fc7\u5e744\u5e74\u963f\u91cc\u7684\u56fd\u5185\u7535\u5546\u96f6\u552e\u4e1a\u52a1\u8425\u6536\u5360\u6bd4\uff0c\u57fa\u672c\u4fdd\u6301\u572875%\u5de6\u53f3\uff0c\u4e00\u822c\u7b2c\u56db\u5b63\u5ea6\u5360\u6bd4\u76f8\u5bf9\u9ad8\u4e00\u4e9b\uff0c\u56e0\u4e3a\u8fd9\u6bb5\u65f6\u95f4\u662f\u53cc11\u3001\u53cc12\u3001\u53cc\u65e6\u7b49\u7535\u5546\u4fc3\u9500\u65fa\u5b63\u3002<\/p>\n
\u540c\u65f6\uff0c\u56fd\u5185\u7535\u5546\u96f6\u552e\u4e1a\u52a1\u4fdd\u630135%-40%\u5de6\u53f3\u7684\u589e\u901f\uff0c\u76f8\u6bd4\u56fd\u5185\u7535\u5546\u6279\u53d1\u768430%\u5de6\u53f3\u3001\u56fd\u9645\u7535\u5546\u6279\u53d1\u768415%\u5de6\u53f3\u90fd\u8981\u9ad8\u4e00\u4e9b\uff0c\u5904\u4e8e\u76f8\u6bd4\u7a33\u5b9a\u7684\u589e\u957f\u4e1a\u52a1\u3002\u5f53\u7136\uff0c\u5728\u7535\u5546\u4e1a\u52a1\u91cc\u9762\uff0c\u589e\u957f\u8f83\u5feb\u7684\u662f\u56fd\u9645\u7535\u5546\u96f6\u552e\u4e1a\u52a1\uff0cQ4\u5b63\u5ea6\u8fbe\u523024.5\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u901f288%\uff0c\u8fd9\u548c\u963f\u91cc\u66f4\u52a0\u91cd\u89c6\u8de8\u5883\u7535\u5546\u7684\u4e00\u7cfb\u5217\u4e3e\u63aa\u6709\u5f88\u5927\u5173\u7cfb\u3002<\/p>\n
\u5982\u6b64\u5206\u6790\u770b\u6765\uff0c\u56fd\u5185\u7535\u5546\u96f6\u552e\u662f\u963f\u91cc\u7684\u6838\u5fc3\u3001\u7a33\u5b9a\u4e1a\u52a1\uff0c\u662f\u963f\u91cc\u7684\u7acb\u8eab\u4e4b\u672c\uff0c\u8fd9\u4e5f\u5c31\u53ef\u4ee5\u77e5\u9053\u963f\u91cc\u8fd9\u51e0\u5e74\u56f4\u7ed5\u7535\u5546\u96f6\u552e\u505a\u7684\u4e3e\u63aa\uff0c\u5305\u62ec\u79fb\u52a8\u7aef\u3001\u5fae\u6dd8\u3001\u5927\u54c1\u724c\u7b49\u7b56\u7565\uff0c\u5c31\u662f\u4e3a\u4e86\u66f4\u597d\u5730\u5de9\u56fa\u96f6\u552e\u4e1a\u52a1\uff0c\u800c\u4ece\u8d22\u62a5\u6765\u770b\uff0c\u8fd9\u6837\u7684\u60c5\u51b5\u5e94\u8be5\u8fd8\u4f1a\u6301\u7eed\u51e0\u5e74\u65f6\u95f4\u3002<\/p>\n
\u963f\u91cc\u7684\u7535\u5546\u96f6\u552e\u8425\u6536\u6765\u6e90\u57fa\u672c\u662f\u5929\u732b\u548c\u6dd8\u5b9d\uff0c\u963f\u91cc\u6700\u8fd1\u4e24\u4e2a\u5b63\u5ea6\u5e76\u6ca1\u6709\u516c\u5e03GMV\u6570\u636e\uff0c\u4ece16\u5e74Q4\u7684\u8d22\u62a5\u6765\u770b\uff0c\u5929\u732b3290\u4ebf\u5143\uff0c\u6dd8\u5b9d5080\u4ebf\u5143\uff0c\u90a3\u4e48\u5929\u732b\u548c\u6dd8\u5b9d\u7684\u5360\u6bd4\u5927\u81f4\u662f\u56db\u516d\u5f00\u3002<\/p>\n
\u548c\u8425\u4e1a\u6536\u5165\u76f8\u6bd4\uff0c\u8425\u4e1a\u8d39\u7528\u603b\u989d\uff08Total operating expenses\uff09\u66f4\u591a\u4ee3\u8868\u7684\u662f\u652f\u51fa\u5c42\u9762\u7684\u3002\u5bf9\u4e00\u5bb6\u4e92\u8054\u7f51\u516c\u53f8\u6765\u8bf4\uff0c\u8425\u4e1a\u8d39\u7528\u6bd4\u8425\u4e1a\u6536\u5165\u6765\u5f97\u66f4\u91cd\u8981\uff0c\u56e0\u4e3a\uff0c\u8fd9\u66f4\u52a0\u80fd\u8bf4\u660e\u4e1a\u52a1\u7684\u7a33\u5b9a\u6027\uff0c\u7a33\u5b9a\u6027\u51b3\u5b9a\u4e86\u76c8\u5229\u80fd\u529b\u7684\u6301\u7eed\u6027\u3002<\/p>\n
\u548c\u5927\u591a\u6570\u4e0a\u5e02\u4e92\u8054\u7f51\u516c\u53f8\u4e00\u6837\uff0c\u963f\u91cc\u8425\u4e1a\u8d39\u7528\u5305\u62ec\u8425\u4e1a\u6210\u672c\u3001\u8425\u9500\u8d39\u7528\u3001\u7814\u53d1\u8d39\u7528\u3001\u7ba1\u7406\u8d39\u7528\uff0c\u5404\u4e2a\u4e92\u8054\u7f51\u516c\u53f8\u5728\u8fd9\u4e2a\u9879\u76ee\u91cc\u90fd\u5927\u5dee\u4e0d\u5927\u7684\u3002<\/p>\n
\n
\u25b2 DonG\u6839\u636e\u963f\u91cc16\u5e74Q4\u8d22\u62a5\u6574\u7406<\/p>\n
\u6839\u636e\u6700\u65b0\u7684\u963f\u91cc\u5b63\u5ea6\u8d22\u62a5\uff0c\u8425\u4e1a\u8d39\u7528\u603b\u989d\u4e3a325.8\u4ebf\u5143\uff0c\u5176\u4e2d\u8425\u4e1a\u6210\u672c\u536060%\u5de6\u53f3\uff0c14%\u7684\u9500\u552e\u6210\u672c\u300114%\u7684\u7814\u53d1\u6210\u672c\uff0c10%\u7684\u7ba1\u7406\u6210\u672c\u30014%\u7684\u65e0\u5f62\u8d44\u4ea7\u644a\u9500\u3002\u5176\u4e2d\u5360\u5927\u5934\u7684\u662f\u8425\u4e1a\u6210\u672c\uff0c\u5305\u62ec\u652f\u4ed8\u901a\u9053\u8d39\u3001\u8bbe\u5907\/\u7f51\u7ad9\u7684\u8fd0\u8425\u8d39\u7528\u3001\u5ba2\u670d\u53ca\u7f51\u7ad9\u8fd0\u8425\u4eba\u5de5\u8d39\u7528\u3001\u732b\u8d85\u7269\u6d41\u8d39\u7528\u7b49\uff0c\u4e3b\u8981\u8fd8\u662f\u6280\u672f\u65b9\u9762\u7684\u6295\u5165\u3002\u8425\u4e1a\u6210\u672c\u91cc\u9762\u7684\u9879\u76ee\u662f\u963f\u91cc\u7684\u6838\u5fc3\u6a21\u5757\uff0c\u5373\u4fdd\u8bc1\u963f\u91cc\u5c31\u7b97\u5728\u6ca1\u6709\u9500\u552e\u7684\u60c5\u51b5\u4e0b\uff0c\u4e5f\u80fd\u6b63\u5e38\u8fd0\u8425\u3002<\/p>\n
\u7ffb\u4e00\u7ffb\u963f\u91cc\u7684\u8d22\u5e74\u5e74\u62a5\uff0c16\u5e74\u521d\u7684\u65f6\u5019\u963f\u91cc\u67093.6\u4e07\u540d\u5458\u5de5\uff0c\u5176\u4e2d51%\u3001\u7ea61.9\u4e07\u4eba\u662f\u7814\u53d1\u4eba\u5458\u3002\u5982\u679c\u628a\u4ea7\u54c1\u7814\u53d1\u8d39\u7528\u7b97\u4e0a\uff0c\u963f\u91cc\u5728\u6280\u672f\u65b9\u9762\u5360\u6bd4\u8425\u4e1a\u6210\u672c\u5927\u6982\u662f70%\u5de6\u53f3\u3002\u548c\u4eac\u4e1c70%\u4ee5\u4e0a\u4eba\u5458\u4e3a\u7269\u6d41\u4eba\u5458\u3001\u552f\u54c1\u4f1a80%\u4e3a\u7269\u6d41\u4eba\u5458\u76f8\u6bd4\uff0c\u963f\u91cc\u662f\u4e00\u5bb6\u4e92\u8054\u7f51\u6280\u672f\u516c\u53f8\u3002<\/p>\n
\u5f53\u7136\uff0c\u548c\u4eac\u4e1c\u4e0d\u592a\u4e00\u6837\u7684\u662f\uff0c\u4eac\u4e1c\u662f\u628a\u4eba\u5de5\u652f\u51fa\u7edf\u7edf\u7b97\u5165\u7ba1\u7406\u8d39\u7528\uff08General and administrative\uff09\uff0c\u963f\u91cc\u5219\u662f\u6309\u7167\u804c\u80fd\u7b97\u5165\u4e0d\u540c\u7684\u9879\u76ee\u91cc\uff0c\u6bd4\u5982\u8fd0\u8425\u5c0f\u4e8c\u7684\u5de5\u8d44\u7b97\u5165\u9500\u552e\u6210\u672c\u3001\u7814\u53d1\u4eba\u5458\u7684\u5de5\u8d44\u7b97\u5165\u7814\u53d1\u8d39\u7528\u3002<\/p>\n
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\n
\u25b2 DonG\u6839\u636e\u963f\u91cc\u5386\u5e74\u8d22\u62a5\u6574\u7406<\/p>\n
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\n
\u25b2 DonG\u6839\u636e\u963f\u91cc\u5386\u5e74\u8d22\u62a5\u6574\u7406<\/p>\n
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\u5173\u6ce8\u8521\u56fd\u7199\u5f80\u671f\u7535\u5546\u8fd0\u8425\u89e3\u8bfb<\/p>\n
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