{"id":29380,"date":"2025-06-20T16:22:35","date_gmt":"2025-06-20T08:22:35","guid":{"rendered":"https:\/\/www.kafeizha.com\/?p=29380"},"modified":"2025-06-20T16:22:35","modified_gmt":"2025-06-20T08:22:35","slug":"%e3%80%90%e6%ad%a3%e9%9d%a2%e3%80%91bloomberg%e8%85%be%e8%ae%af%e9%9f%b3%e4%b9%90%e8%82%a1%e4%bb%b7%e7%bf%bb%e7%95%aa%ef%bc%9a%e6%91%86%e8%84%b1%e4%bb%b7%e6%a0%bc%e6%88%98%ef%bc%8c%e4%b8%93%e6%b3%a8","status":"publish","type":"post","link":"https:\/\/news.tomjun.com\/?p=29380","title":{"rendered":"\u3010\u6b63\u9762\u3011[bloomberg]\u817e\u8baf\u97f3\u4e50\u80a1\u4ef7\u7ffb\u756a\uff1a\u6446\u8131\u4ef7\u683c\u6218\uff0c\u4e13\u6ce8\u7528\u6237\u53d8\u73b0"},"content":{"rendered":"<p>**\u817e\u8baf\u97f3\u4e50\u6446\u8131\u4ef7\u683c\u6218\u6ce5\u6f6d\uff0c\u80a1\u4ef7\u7ffb\u756a**<\/p>\n<p>\u5bf9\u4e8e\u90a3\u4e9b\u538c\u5026\u4e86\u56fd\u5185\u65e0\u4f11\u6b62\u4ef7\u683c\u6218\u7684\u4e2d\u56fd\u79d1\u6280\u6295\u8d44\u8005\u6765\u8bf4\uff0c\u5728\u7ebf\u97f3\u4e50\u9886\u57df\u5c55\u73b0\u4e86\u4e00\u7247\u6b23\u6b23\u5411\u8363\u7684\u666f\u8c61\uff0c\u5176\u53d1\u5c55\u7b56\u7565\u4e0e\u884c\u4e1a\u5e38\u6001\u80cc\u9053\u800c\u9a70\u3002\u81ea2023\u5e74\u5e95\u4ee5\u6765\uff0c\u5728\u9999\u6e2f\u4e0a\u5e02\u7684\u817e\u8baf\u97f3\u4e50\u53ca\u5176\u7ade\u4e89\u5bf9\u624b\u7f51\u6613\u4e91\u97f3\u4e50\u7684\u80a1\u4ef7\u5747\u5df2\u7ffb\u756a\uff0c\u8dd1\u8d62\u4e86\u5927\u591a\u6570\u4e2d\u56fd\u4e92\u8054\u7f51\u4f01\u4e1a\u3002\u8fd9\u4e3b\u8981\u5f52\u529f\u4e8e\u5b83\u4eec\u5c06\u91cd\u5fc3\u8f6c\u5411\u7528\u6237\u5fe0\u8bda\u5ea6\u7684\u53d8\u73b0\uff0c\u540c\u65f6\u5927\u529b\u62d3\u5c55\u64ad\u5ba2\u548c\u73b0\u573a\u6d3b\u52a8\u4e1a\u52a1\u3002<\/p>\n<p>\u817e\u8baf\u97f3\u4e50\u901a\u8fc7\u6210\u529f\u5f15\u5bfc\u7528\u6237\u5347\u7ea7\u5230\u66f4\u6602\u8d35\u7684\u4f1a\u5458\u5957\u9910\uff0c\u5b9e\u73b0\u4e86\u8fde\u7eed\u56db\u4e2a\u5b63\u5ea6\u6bcf\u4ed8\u8d39\u7528\u6237\u6536\u5165\u7684\u589e\u957f\u3002\u4e0e\u8fd1\u5e74\u6765\u7535\u52a8\u6c7d\u8f66\u548c\u7535\u5b50\u5546\u52a1\u9886\u57df\u9891\u7e41\u51fa\u73b0\u7684\u4ef7\u683c\u6218\u5934\u6761\u65b0\u95fb\u76f8\u6bd4\uff0c\u8fd9\u65e0\u7591\u4ee4\u4eba\u8033\u76ee\u4e00\u65b0\uff0c\u540e\u8005\u66fe\u5f15\u53d1\u4e2d\u56fd\u79d1\u6280\u80a1\u7684\u5267\u70c8\u6ce2\u52a8\u3002 <\/p>\n<p>\u201c\u97f3\u4e50\u5728\u4e2d\u56fd\u5e74\u8f7b\u4eba\u7684\u751f\u6d3b\u4e2d\u53d8\u5f97\u8d8a\u6765\u8d8a\u91cd\u8981\uff0c\u6ca1\u6709\u4eba\u4f1a\u4e3a\u4e86\u8282\u7701\u4e00\u4e24\u5757\u94b1\uff0c\u5c31\u653e\u5f03\u81ea\u5df1\u6240\u6709\u7684\u64ad\u653e\u5217\u8868\uff0c\u8f6c\u6295\u5176\u4ed6\u5e73\u53f0\uff0c\u201d Morningstar Inc. \u7684\u5206\u6790\u5e08 Ivan Su \u8bc4\u8bba\u9053\uff0c\u201c\u800c\u4e14\uff0c\u6bcf\u6708\u8ba2\u9605\u8d39\u7528\u5927\u7ea6\u53ea\u76f8\u5f53\u4e8e\u4e00\u676f\u5496\u5561\u7684\u4ef7\u683c\uff0c\u975e\u5e38\u5b9e\u60e0\u3002\u201d \u8fc7\u53bb\u51e0\u5e74\uff0c\u4e2d\u56fd\u5728\u7ebf\u97f3\u4e50\u884c\u4e1a\u5df2\u7ecf\u6574\u5408\uff0c\u5f62\u6210\u4e86\u817e\u8baf\u63a7\u80a1\u6709\u9650\u516c\u53f8\u548c\u7f51\u6613\u516c\u53f8\u65d7\u4e0b\u90e8\u95e8\u53cc\u5be1\u5934\u7684\u5c40\u9762\u3002Spotify \u5728\u4e2d\u56fd\u5927\u9646\u5219\u88ab\u9632\u706b\u5899\u5c4f\u853d\u3002<\/p>\n<p>\u817e\u8baf\u97f3\u4e50\u662f\u884c\u4e1a\u9886\u5bfc\u8005\uff0c\u622a\u81f32024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u672b\uff0c\u6708\u6d3b\u8dc3\u7528\u6237\u7ea6\u4e3a 5.55 \u4ebf\uff0c\u5176\u4e2d\u7ea6 22% \u4e3a\u4ed8\u8d39\u7528\u6237\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0cSpotify \u7684\u4ed8\u8d39\u7528\u6237\u6e17\u900f\u7387\u7ea6\u4e3a 40%\u3002\u817e\u8baf\u97f3\u4e50\u8d27\u5e01\u5316\u6218\u7565\u7684\u5173\u952e\u4e00\u73af\u662f\u5176 Super Premium VIP \u4f1a\u5458\u7b49\u7ea7\uff0c\u7528\u6237\u6bcf\u6708\u652f\u4ed8\u7ea6 4 \u7f8e\u5143\uff0c\u5373\u53ef\u83b7\u5f97\u72ec\u5bb6\u5185\u5bb9\u4ee5\u53ca\u63d0\u524d\u8d2d\u4e70\u7279\u522b\u827a\u4eba\u5468\u8fb9\u5546\u54c1\u548c\u53c2\u4e0e\u73b0\u573a\u6d3b\u52a8\u7684\u673a\u4f1a\u3002\u666e\u901a\u4f1a\u5458\u7684\u6708\u57fa\u672c\u8ba2\u9605\u8d39\u7528\u7ea6\u4e3a 2 \u7f8e\u5143\u3002\u9ad8\u76db\u96c6\u56e2 (Goldman Sachs Group Inc.) \u7684\u5206\u6790\u5e08\u5728\u672c\u5468\u7684\u4e00\u4efd\u62a5\u544a\u4e2d\u6307\u51fa\uff0c\u76f8\u5bf9\u4e8e\u6240\u6709\u4ed8\u8d39\u7528\u6237\uff0cSuper Premium VIP \u4f1a\u5458\u7684\u6bd4\u4f8b\u53ef\u80fd\u4f1a\u4ece\u4eca\u5e74\u7684 12% \u5347\u81f3 2027 \u5e74\u7684 19%\u3002\u8be5\u94f6\u884c\u8fd8\u9884\u8ba1\uff0c\u4eca\u5e74\u6bcf\u4ed8\u8d39\u7528\u6237\u7684\u5e73\u5747\u6536\u5165\u5c06\u589e\u957f 10%\uff0c2026 \u5e74\u53ca\u4ee5\u540e\u5c06\u4fdd\u6301\u9ad8\u4e2a\u4f4d\u6570\u589e\u957f\u3002<\/p>\n<p>\u4e0e Spotify \u7c7b\u4f3c\uff0c\u817e\u8baf\u97f3\u4e50\u4e5f\u5728\u8fdb\u519b\u5176\u4ed6\u670d\u52a1\u9886\u57df\u3002\u672c\u6708\uff0c\u8be5\u516c\u53f8\u5ba3\u5e03\u8ba1\u5212\u6536\u8d2d\u4e2d\u56fd\u64ad\u5ba2\u521d\u521b\u516c\u53f8\u559c\u9a6c\u62c9\u96c5 (Ximalaya)\uff0c5 \u6708\uff0c\u8be5\u516c\u53f8\u62ab\u9732\u4e86\u5bf9\u97e9\u56fd K-pop \u7ecf\u7eaa\u516c\u53f8 SM Entertainment Co. \u80a1\u4efd\u7684\u6536\u8d2d\u3002<\/p>\n<p>T. Rowe Price Group Inc. \u7684\u6295\u8d44\u7ec4\u5408\u4e13\u5bb6 Charlie Chai \u8868\u793a\uff1a\u201c\u9886\u5148\u4f01\u4e1a\u6709\u5f88\u591a\u521b\u65b0\u65b9\u5f0f\u53ef\u4ee5\u5c06\u5176\u7528\u6237\u53d8\u73b0\uff0c\u800c\u4e14\u5728\u5f53\u524d\u73af\u5883\u4e0b\uff0c\u6240\u6709\u8fd9\u4e9b\u9879\u76ee\u7684\u4ef7\u683c\u90fd\u975e\u5e38\u5b9e\u60e0\u3002\u7531\u4e8e\u5e02\u573a\u4e0a\u53ea\u5269\u4e0b\u4e24\u5bb6\u4e3b\u8981\u53c2\u4e0e\u8005\uff0c\u7ade\u4e89\u975e\u5e38\u6e29\u548c\uff0c\u5e02\u573a\u4efd\u989d\u4e5f\u5f88\u7a33\u5b9a\u3002\u201d<\/p>\n<p>Morningstar \u7684 Ivan Su \u8868\u793a\uff0c\u7f51\u6613\u4e91\u97f3\u4e50\u7684\u80a1\u7968\u8868\u73b0\u4f18\u4e8e\u9884\u671f\uff0c\u56e0\u4e3a\u5b83\u201c\u6bd4\u4eba\u4eec\u9884\u671f\u7684\u66f4\u5feb\u5b9e\u73b0\u4e86\u76c8\u5229\u201d\u3002\u53e6\u4e00\u65b9\u9762\uff0c\u817e\u8baf\u97f3\u4e50\u62e5\u6709\u201c\u66f4\u52a0\u5f3a\u5927\u7684\u5185\u5bb9\u5e93\u201d\u548c\u66f4\u5e7f\u6cdb\u7684\u7528\u6237\u7fa4\u3002<\/p>\n<p>\u8be5\u5b50\u884c\u4e1a\u7684\u5de8\u5927\u6536\u76ca\u4f7f\u5f97\u8fd9\u4e9b\u80a1\u7968\u7684\u4ef7\u683c\u7565\u6709\u4e0a\u6da8\u3002\u817e\u8baf\u97f3\u4e50\u7684\u5e02\u76c8\u7387\u4e3a 21 \u500d\uff0c\u9ad8\u4e8e\u4e09\u5e74\u5e73\u5747\u6c34\u5e73\uff0c\u4f46\u8fdc\u4f4e\u4e8e Spotify \u7684\u8fd1 60 \u500d\u3002\u7f51\u6613\u4e91\u97f3\u4e50\u7684\u5e02\u76c8\u7387\u4e3a 24 \u500d\u3002<\/p>\n<p>Financiere de L Echiquier \u7684\u4e9a\u6d32\u80a1\u7968\u4e3b\u7ba1 Marie-Anne Allier \u8ba4\u4e3a\uff0c\u817e\u8baf\u97f3\u4e50\u7684\u4f30\u503c\u201c\u4ecd\u7136\u5177\u6709\u5438\u5f15\u529b\uff0c\u5c24\u5176\u662f\u4e0e Spotify \u76f8\u6bd4\u201d\uff0c\u800c\u4e14\u7531\u4e8e\u53d7\u5173\u7a0e\u5f71\u54cd\u8f83\u5c0f\uff0c\u4e0e\u5185\u5bb9\u76f8\u5173\u7684\u80a1\u7968\u603b\u4f53\u4e0a\u4eab\u6709\u6ea2\u4ef7\u3002\u201c\u6211\u8ba4\u4e3a\u6295\u8d44\u8005\u559c\u6b22\u5b83\u5728\u6e17\u900f\u7387\u4e0d\u8db3\u7684\u5e02\u573a\u4e2d\u5360\u636e 70% \u4ee5\u4e0a\u7684\u5e02\u573a\u4efd\u989d\uff0c\u5e76\u5177\u6709\u63d0\u4ef7\u6f5c\u529b\u3002\u201d <\/p>\n<hr>\n<p><b>\u5206\u6790\u5927\u6a21\u578b\uff1a<\/b>gemma2<br \/><b>\u5f97\u5206\uff1a<\/b>80<br \/><b>\u539f\u56e0\uff1a<\/b><\/p>\n<pre style=\"white-space: pre-wrap;font-size: inherit;\">\u6587\u7ae0\u4e3b\u8981\u62a5\u9053\u4e86\u817e\u8baf\u97f3\u4e50\u53ca\u5176\u7ade\u4e89\u5bf9\u624b\u5728\u5728\u7ebf\u97f3\u4e50\u9886\u57df\u53d6\u5f97\u7684\u6210\u529f\uff0c\u5305\u62ec\u80a1\u4ef7\u4e0a\u6da8\u3001\u7528\u6237\u589e\u957f\u3001\u76c8\u5229\u80fd\u529b\u63d0\u5347\u7b49\u65b9\u9762\uff0c\u5bf9\u4e2d\u56fd\u4f01\u4e1a\u5728\u7279\u5b9a\u9886\u57df\u6446\u8131\u4ef7\u683c\u6218\u6ce5\u6f6d\uff0c\u5b9e\u73b0\u9ad8\u8d28\u91cf\u53d1\u5c55\u6301\u79ef\u6781\u6001\u5ea6\u3002<\/pre>\n<hr>\n<p><b>\u539f\u6587\u5730\u5740\uff1a<\/b><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-20\/tencent-music-shares-double-on-break-from-china-price-cut-script\" target=\"_blank\">Tencent Music Shares Double on Break From China Price Cut Script<\/a><br \/> <b>\u65b0\u95fb\u65e5\u671f\uff1a<\/b>2025-06-20<\/p>\n<div style=\"margin: 20px 0;\"><div class=\"qrcswholewtapper\" style=\"text-align:left;\"><div class=\"qrcprowrapper\"  id=\"qrcwraa2leds\"><div class=\"qrc_canvass\" id=\"qrc_cuttenpages_2\" style=\"display:inline-block\" data-text=\"https:\/\/news.tomjun.com\/?p=29380\"><\/div><div><a download=\"\u3010\u6b63\u9762\u3011[bloomberg]\u817e\u8baf\u97f3\u4e50\u80a1\u4ef7\u7ffb\u756a\uff1a\u6446\u8131\u4ef7\u683c\u6218\uff0c\u4e13\u6ce8\u7528\u6237\u53d8\u73b0.png\" class=\"qrcdownloads\" id=\"worign\">\r\n           <button type=\"button\" style=\"min-width:200px;background:#44d813;color:#000;font-weight: 600;border: 1px solid #44d813;border-radius:20px;font-size:12px;padding: 6px 0;\" class=\"uqr_code_btn\">\u6587\u7ae0\u4e8c\u7ef4\u7801<\/button>\r\n           <\/a><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>**\u817e\u8baf\u97f3\u4e50\u6446\u8131\u4ef7\u683c\u6218\u6ce5\u6f6d\uff0c\u80a1\u4ef7\u7ffb\u756a** \u5bf9\u4e8e\u90a3\u4e9b\u538c\u5026\u4e86\u56fd\u5185\u65e0\u4f11\u6b62\u4ef7\u683c\u6218\u7684\u4e2d\u56fd\u79d1\u6280\u6295\u8d44\u8005\u6765\u8bf4\uff0c\u5728\u7ebf\u97f3\u4e50\u9886\u57df\u5c55\u73b0 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[131],"tags":[18559,399,18560,6435,17602],"class_list":["post-29380","post","type-post","status-publish","format-standard","hentry","category-131","tag-18559","tag-399","tag-18560","tag-6435","tag-17602"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/posts\/29380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29380"}],"version-history":[{"count":1,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/posts\/29380\/revisions"}],"predecessor-version":[{"id":29381,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=\/wp\/v2\/posts\/29380\/revisions\/29381"}],"wp:attachment":[{"href":"https:\/\/news.tomjun.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.tomjun.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}