{"id":18476,"date":"2025-03-21T16:19:18","date_gmt":"2025-03-21T08:19:18","guid":{"rendered":"https:\/\/www.kafeizha.com\/?p=18476"},"modified":"2025-03-21T16:19:18","modified_gmt":"2025-03-21T08:19:18","slug":"%e3%80%90%e8%b4%9f%e9%9d%a2%e3%80%91bloomberg%e6%8b%bc%e5%a4%9a%e5%a4%9a%e8%b4%a2%e6%8a%a5%e8%b6%85%e9%a2%84%e6%9c%9f%ef%bc%8c%e8%b4%b8%e6%98%93%e6%8b%85%e5%bf%a7%e7%bc%93%e8%a7%a3","status":"publish","type":"post","link":"https:\/\/news.tomjun.com\/?p=18476","title":{"rendered":"\u3010\u8d1f\u9762\u3011[bloomberg]\u62fc\u591a\u591a\u8d22\u62a5\u8d85\u9884\u671f\uff0c\u8d38\u6613\u62c5\u5fe7\u7f13\u89e3"},"content":{"rendered":"<p>**\u62fc\u591a\u591a\u8d22\u62a5\u8d85\u9884\u671f\uff0c\u7f13\u89e3\u8d38\u6613\u62c5\u5fe7**<\/p>\n<p>\u53d7\u76ca\u4e8eTemu\u4e1a\u52a1\u7684\u7535\u5546\u5e73\u53f0\u62fc\u591a\u591a\uff0c\u5176\u80a1\u4ef7\u5728\u7f8e\u56fd\u5e02\u573a\u5e94\u58f0\u4e0a\u6da8\u3002\u6b64\u524d\u516c\u5e03\u7684\u8d22\u62a5\u663e\u793a\uff0c\u516c\u53f8\u6536\u76ca\u589e\u957f\u8d85\u51fa\u9884\u671f\uff0c\u8fbe\u523018%\uff0c\u8fd9\u5728\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u7f13\u89e3\u4e86\u6295\u8d44\u8005\u5bf9\u4e8e\u516c\u53f8\u53ef\u80fd\u53d7\u5230\u7f8e\u56fd\u5173\u7a0e\u4ee5\u53ca\u56fd\u5185\u7ade\u4e89\u52a0\u5267\u5f71\u54cd\u7684\u62c5\u5fe7\u3002<\/p>\n<p>\u5c3d\u7ba1\u516c\u53f8\u7b2c\u56db\u5b63\u5ea6\u8425\u6536\u4f4e\u4e8e\u9884\u671f\uff0c\u4e3a1106\u4ebf\u5143\u4eba\u6c11\u5e01\uff08\u7ea6\u5408153\u4ebf\u7f8e\u5143\uff09\uff0c\u4f46\u5176\u51c0\u5229\u6da6\u5374\u8868\u73b0\u5f3a\u52b2\uff0c\u8fbe\u5230274\u4ebf\u5143\u4eba\u6c11\u5e01\uff0c\u540c\u6837\u8d85\u51fa\u5e02\u573a\u9884\u671f\u3002\u53d7\u6b64\u5f71\u54cd\uff0c\u62fc\u591a\u591a\u80a1\u4ef7\u5728\u7ebd\u7ea6\u5e02\u573a\u4e0a\u6da8\u4e864%\u3002<\/p>\n<p>\u5f53\u524d\uff0c\u62fc\u591a\u591a\u56fd\u5185\u5916\u4e1a\u52a1\u5747\u9762\u4e34\u9ad8\u5ea6\u4e0d\u786e\u5b9a\u6027\uff0c\u5e02\u573a\u9884\u671f\u4e5f\u56e0\u6b64\u53d7\u5230\u6291\u5236\u3002\u4e00\u65b9\u9762\uff0cTemu\u9700\u8981\u5e94\u5bf9\u7f8e\u56fd\u5bf9\u4e2d\u56fd\u5546\u54c1\u5f81\u6536\u7684\u9ad8\u989d\u5173\u7a0e\uff0c\u4ee5\u53ca\u53ef\u80fd\u88ab\u5173\u95ed\u7684\u9488\u5bf9\u5c0f\u989d\u5305\u88f9\u7684\u7a0e\u6536\u6f0f\u6d1e\u3002\u53e6\u4e00\u65b9\u9762\uff0c\u81ea\u53bb\u5e748\u6708\u4ee5\u6765\uff0c\u62fc\u591a\u591a\u5c31\u5df2\u53d1\u51fa\u7ade\u4e89\u52a0\u5267\u7684\u8b66\u544a\uff0c\u5e76\u9884\u8ba1\u5176\u76c8\u5229\u80fd\u529b\u5c06\u968f\u65f6\u95f4\u63a8\u79fb\u800c\u4e0b\u964d\u3002<\/p>\n<p>\u6469\u6839\u58eb\u4e39\u5229\u5206\u6790\u5e08\u8ba4\u4e3a\uff0c\u6b64\u6b21\u8d85\u9884\u671f\u7684\u76c8\u5229\u8868\u73b0\u6709\u52a9\u4e8e\u91cd\u5851\u5e02\u573a\u5bf9\u51762025\u5e74\u76c8\u5229\u524d\u666f\u7684\u4fe1\u5fc3\u3002\u4ed6\u4eec\u540c\u65f6\u6307\u51fa\uff0c\u76ee\u524d\u62fc\u591a\u591a\u80a1\u7968\u7684\u5e02\u76c8\u7387\u4ec5\u4e3a2025\u5e74\u9884\u8ba1\u76c8\u5229\u768411\u500d\u3002\u8003\u8651\u5230Temu\u9762\u4e34\u7684\u5173\u7a0e\u538b\u529b\u4ee5\u53ca\u7535\u5546\u9886\u57df\u7684\u6fc0\u70c8\u7ade\u4e89\uff0c\u5e02\u573a\u5bf9\u8be5\u516c\u53f8\u4eca\u5e74\u7684\u671f\u671b\u5e76\u4e0d\u9ad8\u3002<\/p>\n<p>\u62fc\u591a\u591a\u9ad8\u7ba1\u4e5f\u5728\u7535\u8bdd\u4f1a\u8bae\u4e2d\u5766\u627f\uff0c\u5168\u7403\u4e0d\u786e\u5b9a\u6027\u65e5\u76ca\u52a0\u5267\uff0c\u6fc0\u70c8\u7684\u5e02\u573a\u7ade\u4e89\u4e5f\u5bf9\u516c\u53f8\u7684\u77ed\u671f\u589e\u957f\u9020\u6210\u4e86\u5f71\u54cd\u3002\u4f46\u4ed6\u4eec\u540c\u65f6\u91cd\u7533\u4e86\u5bf9\u5546\u5bb6\u7684\u652f\u6301\uff0c\u4ee5\u53ca\u63d0\u5347\u6d88\u8d39\u8005\u4f53\u9a8c\u7684\u52aa\u529b\u3002\u516c\u53f8\u8463\u4e8b\u957f\u517c\u8054\u5e2d\u9996\u5e2d\u6267\u884c\u5b98\u9648\u78ca\u8868\u793a\uff0c\u6b63\u5982\u4e4b\u524d\u51e0\u4e2a\u5b63\u5ea6\u6240\u63d0\u5230\u7684\uff0c\u663e\u8457\u7684\u751f\u6001\u7cfb\u7edf\u6295\u8d44\uff0c\u5feb\u901f\u53d8\u5316\u7684\u5916\u90e8\u73af\u5883\u4ee5\u53ca\u65e5\u76ca\u6fc0\u70c8\u7684\u7ade\u4e89\u683c\u5c40\uff0c\u90fd\u5c06\u5bf9\u77ed\u671f\u8d22\u52a1\u6570\u636e\u4ea7\u751f\u5f71\u54cd\u3002<\/p>\n<p>\u4e0e\u6b64\u540c\u65f6\uff0c\u62fc\u591a\u591a\u7684\u7ade\u4e89\u5bf9\u624b\u963f\u91cc\u5df4\u5df4\u548c\u4eac\u4e1c\u4e5f\u516c\u5e03\u4e86\u8d85\u51fa\u9884\u671f\u7684\u7b2c\u56db\u5b63\u5ea6\u9500\u552e\u989d\uff0c\u8fd9\u5f97\u76ca\u4e8e\u4e2d\u56fd\u653f\u5e9c\u52a0\u5927\u4e86\u8865\u8d34\u548c\u8d38\u6613\u6fc0\u52b1\u7b49\u653f\u7b56\u529b\u5ea6\uff0c\u4ee5\u523a\u6fc0\u6d88\u8d39\u3002\u76ee\u524d\uff0c\u4e2d\u56fd\u653f\u5e9c\u5df2\u5c06\u6269\u5927\u5185\u9700\u4f5c\u4e3a\u4f18\u5148\u4e8b\u9879\uff0c\u65e8\u5728\u62b5\u6d88\u7f8e\u56fd\u603b\u7edf\u5173\u7a0e\u7684\u5f71\u54cd\uff0c\u5e76\u5b9e\u73b0\u7ea65%\u7684\u7ecf\u6d4e\u589e\u957f\u76ee\u6807\u3002<\/p>\n<p>\u6469\u6839\u5927\u901a\u5206\u6790\u5e08\u5728\u4e00\u4efd\u62a5\u544a\u4e2d\u6307\u51fa\uff0c\u62fc\u591a\u591a\u6b64\u6b21\u7684\u8d22\u62a5\u201c\u7f3a\u4e4f\u4efb\u4f55\u4eae\u70b9\u201d\uff0c\u4ea4\u6613\u67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Holdings Inc.\u4f30\u8ba1\uff0c\u53bb\u5e74\u5305\u62ecShein\u548cTemu\u5728\u5185\u7684\u516c\u53f8\u5411\u7f8e\u56fd\u8fd0\u9001\u4e86\u7ea6460\u4ebf\u7f8e\u5143\u7684\u5c0f\u5305\u88f9\uff0c\u8fd9\u4e9b\u5305\u88f9\u7684\u7533\u62a5\u4ef7\u503c\u5747\u4f4e\u4e8e800\u7f8e\u5143\uff0c\u7ea6\u5360\u7f8e\u56fd\u4ece\u4e2d\u56fd\u8fdb\u53e3\u603b\u989d\u768411%\u3002<\/p>\n<p>\u6b64\u5916\uff0c\u6b27\u76df\u5df2\u5bf9Temu\u5c55\u5f00\u8c03\u67e5\uff0c\u4ee5\u8bc4\u4f30\u5176\u662f\u5426\u5b58\u5728\u9500\u552e\u975e\u6cd5\u4ea7\u54c1\u6216\u5b58\u5728\u201c\u670d\u52a1\u6210\u763e\u6027\u8bbe\u8ba1\u201d\u7684\u95ee\u9898\u3002\u8d8a\u5357\u4e5f\u56e0Temu\u672a\u80fd\u6ee1\u8db3\u653f\u5e9c\u91cd\u65b0\u6ce8\u518c\u7684\u6700\u540e\u671f\u9650\u800c\u7981\u6b62\u4e86\u8be5\u5e73\u53f0\u3002 <\/p>\n<hr>\n<p><b>\u5206\u6790\u5927\u6a21\u578b\uff1a<\/b>gemma2<br \/><b>\u5f97\u5206\uff1a<\/b>-20<br \/><b>\u539f\u56e0\uff1a<\/b><\/p>\n<pre style=\"white-space: pre-wrap;font-size: 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