{"id":75636,"date":"2014-04-23T20:07:00","date_gmt":"2014-04-24T03:07:00","guid":{"rendered":"http:\/\/old.newsforchinese.com\/v3\/?p=75636"},"modified":"2014-04-23T20:15:20","modified_gmt":"2014-04-24T03:15:20","slug":"%e7%be%8e%e5%9c%8bipo%e4%b8%8a%e5%b8%82%e6%b5%81%e7%a8%8b","status":"publish","type":"post","link":"https:\/\/newsforchinese.com\/v3\/2014\/04\/23\/%e7%be%8e%e5%9c%8bipo%e4%b8%8a%e5%b8%82%e6%b5%81%e7%a8%8b\/","title":{"rendered":"\u7f8e\u570bIPO\u4e0a\u5e02\u6d41\u7a0b"},"content":{"rendered":"

1\u3001\u7f8e\u570b\u8b49\u5238\u5e02\u5834\u7684\u69cb\u6210\uff1a\uff081\uff09\u5168\u570b\u6027\u7684\u8b49\u5238\u5e02\u5834\u4e3b\u8981\u5305\u62ec\uff1a\u7d10\u7d04\u8b49\u5238\u4ea4\u6613\u6240\uff08NYSE\uff09\u3001\u5168\u7f8e\u8b49\u5238\u4ea4\u6613\u6240\uff08AMEX\uff09\u3001\u7d0d\u65af\u9054\u514b\u80a1\u5e02\uff08NASDAQ\uff09\u548c\u62db\u793a\u677f\u5e02\u5834\uff08OTCBB\uff09\uff1b\uff082\uff09\u5340\u57df\u6027\u7684\u8b49\u5238\u5e02\u5834\u5305\u62ec\uff1a\u8cbb\u57ce\u8b49\u5238\u4ea4\u6613\u6240\uff08PHSE\uff09\u3001\u592a\u5e73\u6d0b\u8b49\u5238\u4ea4\u6613\u6240\uff08PASE\uff09\u3001\u8f9b\u8f9b\u90a3\u63d0\u8b49\u5238\u4ea4\u6613\u6240\uff08CISE\uff09\u3001\u4e2d\u897f\u90e8\u8b49\u5238\u4ea4\u6613\u6240\uff08MWSE\uff09\u4ee5\u53ca\u829d\u52a0\u54e5\u671f\u6b0a\u4ea4\u6613\u6240\uff08CHICAGO BOARDOPTIONS EXCHANGE\uff09\u7b49\u3002<\/p>\n

2\u3001\u5168\u570b\u6027\u5e02\u5834\u7684\u7279\u9ede\uff1a<\/strong>
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\n\uff082\uff09\u5168\u7f8e\u8b49\u5238\u4ea4\u6613\u6240\uff08AMEX\uff09\uff1a\u904b\u884c\u6210\u719f\u8207\u898f\u7bc4\uff0c\u80a1\u7968\u548c\u884d\u751f\u8b49\u5238\u4ea4\u6613\u7a81\u51fa\u3002\u4e0a\u5e02\u689d\u4ef6\u6bd4\u7d10\u7d04\u4ea4\u6613\u6240\u4f4e\uff0c\u4f46\u4e5f\u6709\u4e0a\u767e\u5e74\u7684\u6b77\u53f2\u3002\u8a31\u591a\u50b3\u7d71\u884c\u696d\u53ca\u570b\u5916\u516c\u53f8\u5728\u6b64\u80a1\u5e02\u4e0a\u5e02\uff1b
\n\uff083\uff09\u7d0d\u65af\u9054\u514b\u8b49\u5238\u4ea4\u6613\u6240\uff08NASDAQ\uff09\uff1a\u5b8c\u5168\u7684\u96fb\u5b50\u8b49\u5238\u4ea4\u6613\u5e02\u5834\u3002\u5168\u7403\u7b2c\u4e8c\u5927\u8b49\u5238\u5e02\u5834\u3002\u8b49\u5238\u4ea4\u6613\u6d3b\u8e8d\u3002\u63a1\u7528\u8b49\u5238\u516c\u53f8\u4ee3\u7406\u4ea4\u6613\u5236\uff0c\u6309\u4e0a\u5e02\u516c\u53f8\u5927\u5c0f\u5206\u70ba\u5168\u570b\u677f\u548c\u5c0f\u677f\u3002\u9762\u5411\u7684\u4f01\u696d\u591a\u662f\u5177\u6709\u9ad8\u6210\u9577\u6f5b\u529b\u7684\u5927\u4e2d\u578b\u516c\u53f8\uff0c\u800c\u4e0d\u53ea\u662f\u79d1\u6280\u80a1\uff1b\uff084\uff09\u62db\u793a\u677f\u5e02\u5834\uff08OTCBB\uff09\uff1a\u662f\u7d0d\u65af\u9054\u514b\u80a1\u5e02\u76f4\u63a5\u76e3\u7ba1\u7684\u5e02\u5834\uff0c\u8207\u7d0d\u65af\u9054\u514b\u80a1\u5e02\u5177\u6709\u76f8\u540c\u7684\u4ea4\u6613\u624b\u6bb5\u548c\u65b9\u5f0f\u3002\u5b83\u5c0d\u4f01\u696d\u7684\u4e0a\u5e02\u8981\u6c42\u6bd4\u8f03\u5bec\u9b06\uff0c\u4e26\u4e14\u4e0a\u5e02\u7684\u6642\u9593\u548c\u8cbb\u7528\u76f8\u5c0d\u8f03\u4f4e\uff0c\u4e3b\u8981\u6eff\u8db3\u6210\u9577\u578b\u7684\u4e2d\u5c0f\u4f01\u696d\u7684\u4e0a\u5e02\u878d\u8cc7\u9700\u8981\u3002<\/p>\n

2\u3001\u4e0a\u5e02\u57fa\u672c\u689d\u4ef6\u7d10\u7d04\u8b49\u4ea4\u6240\u5c0d\u7f8e\u570b\u570b\u5916\u516c\u53f8\u4e0a\u5e02\u7684\u689d\u4ef6\u8981\u6c42\uff1a\u4f5c\u70ba\u4e16\u754c\u6027\u7684\u8b49\u5238\u4ea4\u6613\u5834\u6240\uff0c\u7d10\u7d04\u8b49\u4ea4\u6240\u4e5f\u63a5\u53d7\u5916\u570b\u516c\u53f8\u639b\u724c\u4e0a\u5e02\uff0c\u4e0a\u5e02\u689d\u4ef6\u8f03\u7f8e\u570b\u570b\u5167\u516c\u53f8\u66f4\u70ba\u56b4\u683c\uff0c\u4e3b\u8981\u5305\u62ec\uff1a
\n\uff081\uff09\u793e\u6703\u516c\u773e\u6301\u6709\u7684\u80a1\u7968\u6578\u76ee\u4e0d\u5c11\u65bc250\u842c\u80a1\uff1b\uff082\uff09\u6709100\u80a1\u4ee5\u4e0a\u7684\u80a1\u6771\u4eba\u6578\u4e0d\u5c11\u65bc5000\u540d\uff1b\uff083\uff09\u516c\u53f8\u8ca1\u52d9\u6a19\u6e96\uff08\u4e09\u9078\u5176\u4e00\uff09\uff1a[1]\u6536\u76ca\u6a19\u6e96\uff1a\u516c\u53f8\u524d\u4e09\u5e74\u7684\u7a05\u524d\u5229\u6f64\u5fc5\u9808\u9054\u52301\u5104\u7f8e\u5143\uff0c\u4e14\u6700\u8fd1\u5169\u5e74\u7684\u5229\u6f64\u5206\u5225\u4e0d\u4f4e\u65bc2500\u842c\u7f8e\u5143\u3002<\/p>\n

[2]\u6d41\u52d5\u8cc7\u91d1\u6a19\u6e96\uff1a\u5728\u5168\u7403\u64c1\u67095\u5104\u7f8e\u5143\u8cc7\u7522\uff0c\u904e\u53bb12\u500b\u6708\u71df\u696d\u6536\u5165\u81f3\u5c111\u5104\u7f8e\u5143\uff0c\u6700\u8fd13\u5e74\u6d41\u52d5\u8cc7\u91d1\u81f3\u5c111\u5104\u7f8e\u5143\u3002
\n[3]\u6de8\u8cc7\u7522\u6a19\u6e96\uff1a\u5168\u7403\u6de8\u8cc7\u7522\u81f3\u5c117\u51045\u5343\u842c\u7f8e\u5143\uff0c\u6700\u8fd1\u8ca1\u52d9\u5e74\u5ea6\u7684\u6536\u5165\u81f3\u5c117\u51045\u5343\u842c\u7f8e\u5143
\n[4]\u5c0d\u516c\u53f8\u7684\u7ba1\u7406\u548c\u64cd\u4f5c\u65b9\u9762\u7684\u591a\u9805\u8981\u6c42\uff1b
\n[5]\u5176\u4ed6\u6709\u95dc\u56e0\u7d20\uff0c\u5982\u516c\u53f8\u6240\u5c6c\u884c\u696d\u7684\u76f8\u5c0d\u7a69\u5b9a\u6027\uff0c\u516c\u53f8\u5728\u8a72\u884c\u696d\u4e2d\u7684\u5730\u4f4d\uff0c\u516c\u53f8\u7522\u54c1\u7684\u5e02\u5834\u60c5\u6cc1\uff0c\u516c\u53f8\u7684\u524d\u666f\uff0c\u516c\u773e\u5c0d\u516c\u53f8\u80a1\u7968\u7684\u8208\u8da3\u7b49\u3002<\/p>\n

\u5b50\u516c\u53f8\u4e0a\u5e02\u6a19\u6e96\uff1a<\/strong>
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\n\u80a1\u7968\u767c\u884c\u898f\u6a21\uff1a\u80a1\u6771\u6b0a\u76ca\u4e0d\u5f97\u4f4e\u65bc400\u842c\u7f8e\u5143\uff0c\u80a1\u50f9\u6700\u4f4e\u4e0d\u5f97\u4f4e\u65bc3\u7f8e\u5143\/\u80a1\uff0c\u81f3\u5c11\u767c\u884c100\u842c\u666e\u901a\u80a1\uff0c\u5e02\u503c\u4e0d\u4f4e\u65bc300\u842c\u7f8e\u5143\u3002
\n\u516c\u53f8\u8ca1\u52d9\u6a19\u6e96\uff08\u4e8c\u9078\u4e00\uff09
\n\uff081\uff09\u6536\u76ca\u6a19\u6e96\uff1a\u6700\u8fd1\u4e00\u5e74\u7684\u7a05\u524d\u6536\u5165\u4e0d\u5f97\u4f4e\u65bc75\u842c\u7f8e\u5143\u3002
\n\uff082\uff09\u7e3d\u8cc7\u7522\u6a19\u6e96\uff1a\u6de8\u8cc7\u7522\u4e0d\u5f97\u4f4e\u65bc7500\u842c\u7f8e\u5143\uff0c\u4e14\u6700\u8fd11\u5e74\u7684\u7e3d\u6536\u5165\u4e0d\u4f4e\u65bc7500\u842c\u7f8e\u5143\u3002<\/p>\n

\u7f8e\u570b\u8b49\u4ea4\u6240\u4e0a\u5e02\u689d\u4ef6<\/strong>
\n\u82e5\u6709\u516c\u53f8\u60f3\u8981\u5230\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u6240\u639b\u724c\u4e0a\u5e02\uff0c\u9700\u5177\u5099\u4ee5\u4e0b\u5e7e\u9805\u689d\u4ef6\uff1a
\n\uff081\uff09\u6700\u5c11\u8981\u6709500,000\u80a1\u7684\u80a1\u6578\u5728\u5e02\u9762\u4e0a\u70ba\u5927\u773e\u6240\u64c1\u6709\uff1b
\n\uff082\uff09\u5e02\u503c\u6700\u5c11\u8981\u5728\u7f8e\u91d13,000,000\u5143\u4ee5\u4e0a\uff1b
\n\uff083\uff09\u6700\u5c11\u8981\u6709800\u540d\u7684\u80a1\u6771(\u6bcf\u540d\u80a1\u6771\u9700\u64c1\u6709100\u80a1\u4ee5\u4e0a)\uff1b
\n\uff084\uff09\u4e0a\u500b\u6703\u8a08\u5e74\u5ea6\u9700\u6709\u6700\u4f4e750,000\u7f8e\u5143\u7684\u7a05\u524d\u6240\u5f97\u3002 NASDAQ\u4e0a\u5e02\u689d\u4ef6
\n\uff081\uff09\u8d85\u904e4\u767e\u842c\u7f8e\u5143\u7684\u6de8\u8cc7\u7522\u984d\u3002
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\n\uff083\uff09\u9700\u6709300\u540d\u4ee5\u4e0a\u7684\u80a1\u6771\u3002
\n\uff084\uff09\u4e0a\u500b\u6703\u8a08\u5e74\u5ea6\u6700\u4f4e\u70ba75\u842c\u7f8e\u5143\u7684\u7a05\u524d\u6240\u5f97\u3002
\n\uff085\uff09\u6bcf\u5e74\u7684\u5e74\u5ea6\u8ca1\u52d9\u200b\u200b\u5831\u8868\u5fc5\u9700\u63d0\u4ea4\u7d66\u8b49\u7ba1\u6703\u8207\u516c\u53f8\u80a1\u6771\u5011\u53c3\u8003\u3002
\n\uff086\uff09\u6700\u5c11\u9808\u6709\u4e09\u4f4d”\u5e02\u5834\u64ae\u5408\u8005”\uff08Market Maker\uff09\u7684\u53c3\u8207\u6b64\u6848\uff08\u6bcf\u4f4d\u767b\u8a18\u6709\u6848\u7684Market Maker\u9808\u5728\u6b63\u5e38\u7684\u8cb7\u50f9\u8207\u8ce3\u50f9\u4e4b\u4e0b\u6709\u80fd\u529b\u8cb7\u6216\u8ce3100\u80a1\u4ee5\u4e0a\u7684\u80a1\u7968\uff0c\u4e26\u4e14\u5fc5\u9808\u5728\u6bcf\u7b46\u6210\u4ea4\u5f8c\u768490\u79d2\u5167\u5c07\u6240\u6709\u7684\u6210\u4ea4\u50f9\u53ca\u4ea4\u6613\u91cf\u56de\u5831\u7d66\u7f8e\u570b\u8b49\u5238\u5546\u540c\u696d\u516c\u6703\uff08NASD\uff09\u3002<\/p>\n

NASDAQ\u5c0d\u975e\u7f8e\u570b\u516c\u53f8\u63d0\u4f9b\u53ef\u9078\u64c7\u7684\u4e0a\u5e02\u6a19\u6e96\u8ca1\u52d9\u6a19\u6e96\u6eff\u8db3\u4e0b\u5217\u689d\u4ef6\u4e2d\u7684\u4e00\u689d\uff1a\uff081\uff09\u4e0d\u5c11\u65bc1500\u842c\u7f8e\u5143\u7684\u6de8\u8cc7\u7522\u984d\uff0c\u6700\u8fd13\u5e74\u4e2d\u81f3\u5c11\u6709\u4e00\u5e74\u7a05\u524d\u71df\u696d\u6536\u5165\u4e0d\u5c11\u65bc100\u842c\u7f8e\u5143\u3002\uff082\uff09\u4e0d\u5c11\u65bc3000\u842c\u7f8e\u5143\u7684\u6de8\u8cc7\u7522\u984d\uff0c\u4e0d\u5c11\u65bc2\u5e74\u7684\u71df\u696d\u8a18\u9304\u3002\uff083\uff09\u80a1\u7968\u7e3d\u5e02\u503c\u4e0d\u4f4e\u65bc7500\u842c\u7f8e\u5143\u3002\u6216\u8005\u516c\u53f8\u7e3d\u8cc7\u7522\u3001\u7576\u5e74\u7e3d\u6536\u5165\u4e0d\u4f4e\u65bc7500\u842c\u7f8e\u5143\u3002\uff084\uff09\u9700\u6709300\u540d\u4ee5\u4e0a\u7684\u80a1\u6771\u3002(5\uff09\u4e0a\u500b\u6703\u8a08\u5e74\u5ea6\u6700\u4f4e\u70ba75\u842c\u7f8e\u5143\u7684\u7a05\u524d\u6240\u5f97\u3002\uff086\uff09\u6bcf\u5e74\u7684\u5e74\u5ea6\u8ca1\u52d9\u200b\u200b\u5831\u8868\u5fc5\u9700\u63d0\u4ea4\u7d66\u8b49\u7ba1\u6703\u8207\u516c\u53f8\u80a1\u6771\u5011\u53c3\u8003\u3002\uff087\uff09\u6700\u5c11\u9808\u6709\u4e09\u4f4d”\u505a\u5e02\u5546”(Market Maker)\u7684\u53c3\u8207\u6b64\u6848(\u6bcf\u4f4d\u767b\u8a18\u6709\u6848\u7684MarketMaker\u9808\u5728\u6b63\u5e38\u7684\u8cb7\u50f9\u8207\u8ce3\u50f9\u4e4b\u4e0b\u6709\u80fd\u529b\u8cb7\u6216\u8ce3100\u80a1\u4ee5\u4e0a\u7684\u80a1\u7968\uff0c\u4e26\u4e14\u5fc5\u9808\u5728\u6bcf\u7b46\u6210\u4ea4\u5f8c\u768490\u79d2\u5167\u5c07\u6240\u6709\u7684\u6210\u4ea4\u50f9\u53ca\u4ea4\u6613\u91cf\u56de\u5831\u7d66\u7f8e\u570b\u8b49\u5238\u5546\u540c\u696d\u516c\u6703<\/p>\n

OTCBB\u8cb7\u6bbc\u4e0a\u5e02\u689d\u4ef6<\/strong><\/p>\n

OTCBB\u5e02\u5834\u662f\u7531\u7d0d\u65af\u9054\u514b\u7ba1\u7406\u7684\u80a1\u7968\u4ea4\u6613\u7cfb\u7d71\uff0c\u662f\u91dd\u5c0d\u4e2d\u5c0f\u4f01\u696d\u53ca\u5275\u696d\u4f01\u696d\u8a2d\u7acb\u7684\u96fb\u5b50\u6ac3\u6aaf\u5e02\u5834\u3002\u8a31\u591a\u516c\u53f8\u7684\u80a1\u7968\u5f80\u5f80\u5148\u5728\u8a72\u7cfb\u7d71\u4e0a\u5e02\uff0c\u7372\u5f97\u6700\u521d\u7684\u767c\u5c55\u8cc7\u91d1\uff0c\u901a\u904e\u4e00\u6bb5\u6642\u9593\u7a4d\u7d2f\u64f4\u5f35\uff0c\u9054\u5230\u7d0d\u65af\u9054\u514b\u6216\u7d10\u7d04\u8b49\u5238\u4ea4\u6613\u6240\u7684\u639b\u724c\u8981\u6c42\u5f8c\u5347\u7d1a\u5230\u4e0a\u8ff0\u5e02\u5834\u3002<\/p>\n

\u8207\u7d0d\u65af\u9054\u514b\u76f8\u6bd4\uff0cOTC BB\u5e02\u5834\u4ee5\u9580\u6abb\u4f4e\u800c\u53d6\u52dd\uff0c\u5b83\u5c0d\u4f01\u696d\u57fa\u672c\u6c92\u6709\u898f\u6a21\u6216\u76c8\u5229\u4e0a\u7684\u8981\u6c42\uff0c\u53ea\u8981\u6709\u4e09\u540d\u4ee5\u4e0a\u7684\u9020\u5e02\u5546\u9858\u70ba\u8a72\u8b49\u5238\u505a\u5e02\uff0c\u4f01\u696d\u80a1\u7968\u5c31\u53ef\u4ee5\u5230OTCBB\u5e02\u5834\u4e0a\u6d41\u901a\u4e86\u3002 2003\u5e7411\u6708\u6709\u7d043400\u5bb6\u516c\u53f8\u5728OTCBB\u4e0a\u5e02\u3002\u5176\u5be6\uff0c\u7d0d\u65af\u9054\u514b\u80a1\u5e02\u516c\u53f8\u672c\u8eab\u5c31\u662f\u4e00\u5bb6\u5728OTCBB\u4e0a\u5e02\u7684\u516c\u53f8\uff0c\u5176\u80a1\u7968\u4ee3\u78bc\u662fNDAQ\u3002<\/p>\n

\u5728OTCBB\u4e0a\u5e02\u7684\u516c\u53f8\uff0c\u53ea\u8981\u6de8\u8cc7\u7522\u9054\u5230400\u842c\u7f8e\u5143\uff0c\u5e74\u7a05\u5f8c\u5229\u6f64\u8d85\u904e75\u842c\u7f8e\u5143\u6216\u5e02\u503c\u90545000\u842c\u7f8e\u5143\uff0c\u80a1\u6771\u5728300\u4eba\u4ee5\u4e0a\uff0c\u80a1\u50f9\u9054\u52304\u7f8e\u5143\uff0f\u80a1\u7684\uff0c\u4fbf\u53ef\u76f4\u63a5\u5347\u5165\u7d0d\u65af\u9054\u514b\u5c0f\u578b\u80a1\u5e02\u5834\u3002\u6de8\u8cc7\u7522\u9054\u5230600\u842c\u7f8e\u5143\u4ee5\u4e0a\uff0c\u6bdb\u5229\u9054\u5230100\u842c\u7f8e\u5143\u4ee5\u4e0a\u6642\u516c\u53f8\u80a1\u7968\u9084\u53ef\u76f4\u63a5\u5347\u5165\u7d0d\u65af\u9054\u514b\u4e3b\u677f\u5e02\u5834\u3002\u56e0\u6b64OTC BB\u5e02\u5834\u53c8\u88ab\u7a31\u70ba\u7d0d\u65af\u9054\u514b\u7684\u9810\u5099\u5e02\u5834\uff08\u7d0d\u65af\u9054\u514bBABY\uff09\u3002<\/p>\n

\u7f8e\u570bIPO\u4e0a\u5e02\u6d41\u7a0b<\/strong>
\n\u4e00\u3001\u9078\u64c7\u4e2d\u4ecb\u6a5f\u69cb
\n\u516c\u53f8\u6539\u5236\u5883\u5916\u4e0a\u5e02\u904e\u7a0b\u4e2d\u6d89\u53ca\u7684\u4e2d\u4ecb\u6a5f\u69cb\u53ca\u4e3b\u8981\u8077\u8cac
\n1\uff0e\u8ca1\u52d9\u9867\u554f\u3002\u8ca1\u52d9\u9867\u554f\u662f\u8ca0\u8cac\u516c\u53f8\u6539\u5236\u5de5\u4f5c\u7684\u7e3d\u9ad4\u5354\u8abf\u6a5f\u69cb\uff0c\u5354\u52a9\u5236\u8a02\u6539\u5236\u91cd\u7d44\u65b9\u6848\uff0c\u8ca0\u8cac\u8207\u5176\u4ed6\u5404\u4e2d\u4ecb\u6a5f\u69cb\u548c\u4f01\u696d\u6709\u95dc\u90e8\u9580\u5354\u8abf\uff0c\u662f\u672a\u4f86\u4e0a\u5e02\u7684\u8f14\u5c0e\u6a5f\u69cb\u3002
\n2\u3001\u571f\u5730\u8a55\u4f30\u5e2b\u3002\u571f\u5730\u8a55\u4f30\u5e2b\u8ca0\u8cac\u5354\u52a9\u8fa6\u7406\u571f\u5730\u6b0a\u8b49\uff0c\u5b8c\u6210\u571f\u5730\u8a55\u4f30\u5831\u544a\uff0c\u8ca0\u8cac\u571f\u5730\u8a55\u4f30\u5831\u544a\u7684\u6838\u51c6\uff0c\u5354\u52a9\u53d6\u5f97\u570b\u571f\u8cc7\u6e90\u90e8\u95dc\u65bc\u571f\u5730\u4f7f\u7528\u6b0a\u7684\u8655\u7f6e\u6279\u590d\u3002
\n3\uff0e\u8cc7\u7522\u8a55\u4f30\u5e2b\u3002\u5c31\u8cc7\u7522\u8a55\u4f30\u554f\u984c\u8207\u570b\u6709\u8cc7\u7522\u7ba1\u7406\u90e8\u9580\u6e9d\u901a\uff0c\u5b8c\u6210\u8cc7\u7522\u8a55\u4f30\u5831\u544a\uff0c\u8207\u5be9\u8a08\u5e2b\u5c0d\u8cec\uff0c\u8ca0\u8cac\u8cc7\u7522\u8a55\u4f30\u5831\u544a\u7684\u6838\u51c6\u3002
\n4.\u570b\u969b\u6703\u8a08\u5e2b\u4e8b\u52d9\u6240\u3002\u8ca0\u8cac\u51fa\u5177\u8ca1\u52d9\u5be9\u8a08\u5831\u544a\u3001\u9a57\u8cc7\u5831\u544a\u3001\u516c\u53f8\u7c4c\u5099\u671f\u9593\u7684\u8ca1\u52d9\u5be9\u8a08\u5831\u544a\uff0c\u4ee5\u53ca\u7ba1\u7406\u5efa\u8b70\u66f8\uff0c\u4e26\u5c31\u516c\u53f8\u7684\u5167\u90e8\u63a7\u5236\u60c5\u6cc1\u9032\u884c\u8a55\u50f9\u3002
\n5\uff0e\u5883\u5167\u5916\u5f8b\u5e2b\u3002\u8ca0\u8cac\u6cd5\u5f8b\u76e1\u8077\u8abf\u67e5\uff0c\u51fa\u5177\u570b\u6709\u80a1\u6b0a\u7ba1\u7406\u6cd5\u5f8b\u610f\u898b\u66f8\u548c\u80a1\u4efd\u516c\u53f8\u8a2d\u7acb\u6cd5\u5f8b\u610f\u898b\u66f8\uff0c\u5354\u52a9\u4f01\u696d\u5c31\u6539\u5236\u6cd5\u5f8b\u554f\u984c\u8207\u76e3\u7ba1\u6a5f\u69cb\u6e9d\u901a\uff0c\u4e26\u64ec\u5b9a\u516c\u53f8\u7ae0\u7a0b\uff0c\u5883\u5916\u5f8b\u5e2b\u5c31\u662f\u5426\u7b26\u5408\u5883\u5916\u4e0a\u5e02\u5730\u4e0a\u5e02\u689d\u4ef6\u51fa\u5177\u76f8\u95dc\u6cd5\u5f8b\u6587\u66f8\u3002
\n6\uff0e\u7269\u696d\u8a55\u4f30\u5e2b\u3002\u5982\u8981\u5728\u9999\u6e2f\u4ea4\u6613\u6240\u4e0a\u5e02\u7684\u8a71\uff0c\u6309\u7167\u9999\u6e2f\u4ea4\u6613\u6240\u7684\u8981\u6c42\uff0c\u9700\u8981\u8058\u8acb\u6709\u9999\u6e2f\u57f7\u884c\u8cc7\u683c\u7684\u7269\u696d\u8a55\u4f30\u5e2b\u4f86\u5c0d\u4e0a\u5e02\u4f01\u696d\u7684\u7269\u696d(\u571f\u5730\u548c\u623f\u5c4b)\u9032\u884c\u8a55\u4f30\uff0c\u51fa\u5177\u7269\u696d\u8a55\u4f30\u5831\u544a\u3002
\n\u4e8c\u3001\u5411\u5883\u5916\u8b49\u76e3\u6703\u6216\u4ea4\u6613\u6240\u63d0\u51fa\u7533\u8acb(\u8046\u8a0a)\u4f01\u696d\u5728\u62ff\u5230\u570b\u5167\u76e3\u7ba1\u6a5f\u69cb\u51c6\u8a31\u4e0a\u5e02\u7684\u6709\u95dc\u6279\u6587\u548c\u5f8b\u5e2b\u51fa\u5177\u7684\u6709\u95dc\u6cd5\u5f8b\u610f\u885b\u66f8\u5f8c\uff0c\u5373\u53ef\u5411\u5883\u5916\u4ea4\u6613\u6240\u63d0\u4ea4\u7b2c\u4e00\u6b21\u7533\u8acb\u4e0a\u5e02\u7684\u6750\u6599\u3002<\/p>\n

\u5411\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703(SEC)\u767b\u8a18<\/strong><\/p>\n

(\u4e00)\u6e96\u5099\u767b\u8a18\u6587\u4ef6<\/strong>
\n\u6839\u64da\u7f8e\u570b\u300a1933\u5e74\u8b49\u5238\u6cd5\u300b\u4f01\u696d\u767c\u884c\u8b49\u5238\u5fc5\u9808\u9032\u884c\u8a3b\u518a\u767b\u8a18\uff0c\u5411SEC\u905e\u4ea4
\n\u58a8\u544a\uff0c\u62ab\u9732\u8207\u6b64\u6b21\u767c\u884c\u76f8\u95dc\u7684\u4fe1\u606f\uff0c\u4e5f\u5c31\u662f\u63d0\u4ea4\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u3002\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u7531\u5169\u90e8\u5206\u7d44\u6210\uff1a\u62db\u80a1\u66f8\u53ca\u8a3b\u518a\u8aaa\u660e\u66f8\uff0c\u6b63\u5f0f\u62db\u80a1\u66f8\u6703\u8a3b\u660e\u8a3b\u518a\u7684\u751f\u6548\u6642\u9593\u3001\u767c\u884c\u6642\u9593\u3001\u767c\u884c\u50f9\u548c\u5176\u4ed6\u76f8\u95dc\u4fe1\u606f\uff1b\u4f46\u9019\u6642\u7528\u65bc\u7533\u5831\u7684\u662f\u975e\u6b63\u5f0f\u62db\u80a1\u66f8\uff0c\u7528\u7d05\u58a8\u5370\u5237\uff0c\u4fd7\u7a31\u201c\u7d05\u9be1\u9b5a\u201d(preliminary prospectus\uff0c\u521d\u6b65\u62db\u80a1\u66f8)\uff0c\u63d0\u9192\u8b80\u8005\u9019\u662f\u975e\u6b63\u5f0f\u7688\u672c\u3002\u5176\u4e3b\u8981\u5167\u5bb9\u5305\u62ec\uff1a\u5c01\u9762\u3001\u6982\u8981\u3001\u516c\u53f8\u3001\u8cc7\u91d1\u6295\u5411\u3001\u5206\u914d\u653f\u7b56\u3001\u80a1\u6b0a\u6524\u8584\u3001\u8cc7\u672c\u5316\u3001\u8ca1\u52d9\u6578\u64da\u6458\u8981\u3001\u7ba1\u7406\u5c64\u7684\u8a0e\u8ad6\u3001\u7ba1\u7406\u5c64\u53ca\u4e3b\u8981\u80a1\u6771\u3001\u6cd5\u5f8b\u8a34\u8a1f\u3001\u8b49\u5238\u4ecb\u7d39\u3001\u7e3d\u7d50\u3002
\n\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u7684\u5167\u5bb9\u5305\u62ec\uff1a\u627f\u92b7\u8cbb\u7528\u3001\u8463\u4e8b\u53ca\u7ba1\u7406\u5c64\u7684\u916c\u91d1\u3001\u516c\u53f8\u672a\u767b\u8a18\u7684\u8b49\u5238\u3001\u5176\u6700\u8fd1\u4ea4\u6613\u60c5\u6cc1\u53ca\u9644\u4ef6\u548c\u8ca1\u52d9\u5831\u8868\u76ee\u9304\u3002<\/p>\n

(\u4e8c)\u6709\u95dc\u898f\u5247<\/strong>
\n\u5728\u300a1933\u5e74\u8b49\u5238\u6cd5\u300b\u548c\u300a1934\u5e74\u8b49\u5238\u4ea4\u6613\u6cd5\u300b\u4e2d\uff0c\u660e\u78ba\u7684\u898f\u5b9a\u4e3b\u8981\u96c6\u4e2d\u5728s\u2014K\u3001S\u2014x\u548cC\u689d\u4f8b\u4e2d\u3002
\n1\uff0e S\u2014K\u689d\u4f8b\uff1a\u5177\u9ad4\u898f\u5b9a\u4e86\u8a3b\u518a\u767b\u8a18\u66f8\u4e2d\u9664\u8ca1\u52d9\u5916\u7684\u90e8\u5206\u8cc7\u6599\u7684\u5167\u5bb9\u3002
\n2\uff0e S\u2014X\u689d\u4f8b\uff1a\u898f\u5b9a\u8ca1\u52d9\u5831\u544a\u7684\u5167\u5bb9\u3002\u6703\u8a08\u5e2b\u61c9\u8a72\u975e\u5e38\u719f\u6089S\u2014x\u689d\u4f8b\uff0c\u4f01\u696d\u61c9\u8207\u6703\u8a08\u5e2b\u4e00\u540c\u586b\u5beb\u6709\u95dc\u7684\u8ca1\u52d9\u8cc7\u6599\u3002
\n3\uff0e C\u689d\u4f8b\uff0e \uff1a\u898f\u5b9a\u7a0b\u5e8f\u5316\u5167\u5bb9\u3002\u5982\u8a3b\u518a\u767b\u8a18\u6642\u9075\u5faa\u7684\u6b65\u9a5f\uff0c\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u7d19\u5f35\u7684\u5927\u5c0f\u3001\u6578\u91cf\u53ca\u5176\u4ed6\u7d30\u7bc0\u3002
\n4\uff0e\u8ca1\u52d9\u5831\u544a\u767c\u5e03\uff1a\u5f37\u5316\u4e86s\u2014x\u689d\u4f8b\u4e2d\u5c0d\u8ca1\u7d93\u4fe1\u606f\u62ab\u9732\u7684\u8981\u6c42\u3002
\n5\uff0e SEC\u806f\u5408\u6703\u8a08\u5831\u544a\uff1a\u5c6c\u88dc\u5145\u6027\u8cc7\u6599\u3002\u8aaa\u660eSEC\u8077\u54e1\u5c0d\u6703\u8a08\u88fd\u5ea6\u7684\u7406\u89e3\u548c\u4e2d\u570b\u4f01\u696d\u5883\u5916\u4e0a\u5e02\u6cd5\u5f8b\u5be6\u52d9<\/p>\n

(\u4e09)\u586b\u5beb\u5404\u7a2e\u8868\u683c<\/strong>
\n\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u7684\u5177\u9ad4\u898f\u5b9a\u4e3b\u8981\u9ad4\u73fe\u5728s\u4e001\u81f3s\u4e0018\u8868\u683c\u91cc(\u5176\u4e2d\u6709\u4e9b\u5e8f\u865f\u4e26\u4e0d\u5b58\u5728)\u3002\u5171\u4e2ds\u2014l\u662f\u6700\u91cd\u8981\u7684\u8a3b\u518a\u767b\u8a18\u8868\u683c\u3002\u70ba\u4e86\u7c21\u4fbf\u8d77\u898b\uff0cSEC\u53c8\u63a1\u7d0d\u4e86SB\u4e001(\u898f\u6a21\u5c0f\u65bc1000\u842c\u7f8e\u5143\u7684\u8b49\u5238)\u548cSB–2(\u898f\u6a21\u4e0d\u9650\u5236)\uff0c\u9019\u5169\u7a2e\u683c\u5f0f\u7684\u904b\u7528\u7bc4\u570d\u6700\u70ba\u5ee3\u6cdb\u3002 S\u4e001\u8207SB\u4e001\u3001SB–2\u7684\u5340\u5225\u5982\u4e0b\uff1a<\/p>\n\n\n\n\n\n\n\n\n
\u9879\u76ee<\/span><\/td>\nS—1<\/span><\/td>\nSB<\/span>\u2014l<\/span><\/td>\n\u3001<\/span>SB–2<\/td>\n<\/tr>\n
\u8d44\u4ea7\u8d1f\u503a\u8868<\/span><\/td>\n\u6700\u8fd1<\/span>3\u5e74\u7684\u8d44\u4ea7\u8d1f\u503a\u8868<\/span><\/td>\n1<\/span>\u5e74<\/span><\/td>\n2<\/span>\u5e74<\/span><\/td>\n<\/tr>\n
\u635f\u76ca\u8868\u3001\u8d22\u52a1\u72b6\u51b5\u53d8\u52a8\u8868\u3001\u80a1\u4e1c\u6743\u76ca\u53d8\u5316\u8868<\/span><\/td>\n3<\/span>\u5e74<\/span><\/td>\n2<\/span>\u5e74<\/span><\/td>\n3<\/span>\u5e74<\/span><\/td>\n<\/tr>\n
\u8ba1\u5212\u4e66<\/span><\/td>\n\u8981\u7b26\u5408<\/span>SEC\u7684\u4f1a\u8ba1<\/span>\u51c6\u5219<\/span><\/td>\n\u9700\u8981\u7b26\u5408\u516c\u8ba4\u7684\u4f1a\u8ba1\u539f\u5219<\/span>(GAAP)<\/td>\n\u9700\u8981\u7b26\u5408\u516c\u8ba4\u7684\u4f1a\u8ba1\u539f\u5219<\/span>(GAAP)<\/td>\n<\/tr>\n
5<\/span>\u5e74\u7684\u8d22\u52a1\u6570\u636e\uff0c\u6ce8\u660e\u4e2a\u4eba\u8d22\u52a1\u72b6\u51b5\u53ca\u6536\u5165\u5206\u6790<\/span><\/td>\n\u8981\u6c42\u63d0\u4f9b<\/span><\/td>\n\u4e0d\u8981\u6c42\u63d0\u4f9b<\/span><\/td>\n\u4e0d\u8981\u6c42\u63d0\u4f9b<\/span><\/td>\n<\/tr>\n
\u8be6\u7ec6\u63cf\u8ff0\u516c\u53f8\u4e1a\u52a1\u3001\u8d44\u4ea7\u3001\u7ba1\u7406\u5c42\u62a5\u916c\u3001\u4e3b\u8981\u5408\u7ea6<\/span><\/td>\n\u8981\u6c42\u63d0\u4f9b<\/span><\/td>\n\u4e0d\u8981\u6c42\u63d0\u4f9b<\/span><\/td>\n\u4e0d\u8981\u6c42\u63d0\u4f9b<\/span>\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u8868\u683cS-2\u3001\u8868\u683cS–3\u9069\u7528\u65bc\u662f\u7b2c\u4e8c\u6b21\u767c\u884c\u80a1\u7968\u7684\u4e0a\u5e02\u516c\u53f8
\n\u8868\u683cS-4\uff1a\u91dd\u5c0d\u6536\u8cfc
\n\u8868\u683cS-6\uff1a\u91dd\u5c0d\u4fe1\u8a17\u6295\u8cc7\u516c\u53f8
\n\u8868\u683cS-8\uff1a\u91dd\u5c0d\u767c\u884c\u7684\u80a1\u7968\u4e26\u70ba\u8077\u5de5\u80a1\u7968\u9078\u64c7\u6b0a\u5229\u6216\u76c8\u5229\u8a08\u5283
\n\u8868\u683cS-11\uff1a\u91dd\u5c0d\u623f\u5730\u7522\u516c\u53f8\u8207\u6295\u8cc7\u516c\u53f8<\/p>\n

SEC\u5728\u5be9\u67e5\u4e0a\u8ff0\u8a3b\u518a\u767b\u8a18\u6587\u4ef6\u53ca\u8868\u683c\u6642\uff0c\u70ba\u8b49\u660e\u5176\u771f\u5be6\u6027\u548c\u6e96\u78ba\u6027\uff0c\u901a\u5e38\u9084\u6703\u8981\u6c42\u8463\u4e8b\u51fa\u5177\u5ba3\u8a93\u66f8\u3002\u5167\u5bb9\u5305\u62ec\uff1a\u5de5\u4f5c\u7d93\u6b77\uff0c\u8207\u64ec\u4e0a\u5e02\u516c\u53f8\u7684\u95dc\u4fc2\uff0c\u5728\u5176\u4ed6\u516c\u53f8\u64d4\u4efb\u7684\u8077\u4f4d\uff0c\u6559\u80b2\u80cc\u666f\uff0c\u66fe\u53c3\u8207\u904e\u7684\u696d\u52d9\u7d44\u7e54\uff0c\u516c\u53f8\u904e\u53bb5\u5e74\u4e2d\u8058\u8acb\u7684\u5f8b\u5e2b\u3001\u6703\u8a08\u5e2b\uff0c\u904e\u53bb10\u5e74\u4e2d\u53c3\u8207\u7684\u8b49\u5238\u767c\u884c\u5de5\u4f5c\uff0c\u904e\u53bb\u8207\u73fe\u5728\u7684\u53d7\u8a17\u7ba1\u7406\u95dc\u4fc2\uff0c\u500b\u4eba\u916c\u91d1\uff0c\u6240\u6301\u6709\u7684\u516c\u53f8\u8b49\u5238\u3001\u904e\u53bb\u6216\u5373\u5c07\u8207\u516c\u53f8\u9032\u884c\u7684\u6240\u6709\u4ea4\u6613\u3002<\/p>\n

(\u56db)\u63d0\u4ea4\u767b\u8a18<\/strong><\/p>\n

1\uff0e\u9810\u5099\u6703\u8b70<\/strong>
\n\u521d\u6b21\u4e0a\u5e02\u7684\u516c\u53f8\uff0c\u70ba\u4e86\u5b8c\u5584\u62db\u80a1\u8aaa\u660e\u66f8\u7684\u5167\u5bb9\uff0c\u53ef\u4ee5\u9078\u64c7\u8207SEC\u6709\u95dc\u4eba\u54e1\u958b\u500b\u898b\u9762\u6703\uff0c\u4ee5\u5f97\u5230\u4ee5\u4e0b\u5177\u9ad4\u6307\u5c0e\uff1a
\n\u00b7\u5e6b\u52a9\u516c\u53f8\u5b8c\u5584\u6709\u95dc\u6587\u4ef6
\n\u00b7\u8aee\u8a62\u5982\u4f55\u8655\u7406\u6cd5\u5f8b\u53ca\u6703\u8a08\u554f\u984c
\n\u00b7\u5c31\u5df2\u6709\u7684\u4e0d\u5341\u5206\u660e\u78ba\u7684\u6cd5\u898f\u5411SEC\u4eba\u54e1\u8aee\u8a62
\n\u00b7\u641e\u6e05\u67d0\u4e9b\u53ef\u80fd\u6703\u5c0d\u8a3b\u518a\u767b\u8a18\u7522\u751f\u5f71\u97ff\u7684\u5177\u9ad4\u4e8b\u9805\uff0c\u4ee5\u907f\u514d\u8a3b\u518a\u767b\u8a18\u5831\u544a\u905e\u4ea4\u5f8c\u4e0d\u5fc5\u8981\u7684\u7b49\u5f85\u3002
\n\u00b7\u5c31\u6709\u95dc\u7279\u6b8a\u554f\u984c\u4f5c\u51fa\u6709\u9650\u5ea6\u7684\u554f\u7b54
\n\u5728\u9810\u5099\u6703\u8b70\u4e4b\u524d\uff0c\u516c\u53f8\u8207\u6709\u95dc\u4e2d\u4ecb\u5982\u627f\u92b7\u5546\u3001\u5f8b\u5e2b\u61c9\u6e96\u5099\u597d\u554f\u984c\u53ca\u6709\u95dc\u6750\u6599\uff0c\u4ee5\u4fbf\u5728\u6703\u4e0a\u8207SEC\u4eba\u58eb\u63a2\u8a0e\u3002<\/p>\n

2\uff0e\u6b63\u5f0f\u767b\u8a18<\/strong>
\n\u7576\u516c\u53f8\u6309\u898f\u5b9a\u905e\u4ea4\u8a3b\u518a\u767b\u8a18\u8b49\u660e\u66f8\u5f8c\uff0cSEC\u6709\u4e00\u500b\u5c08\u9580\u7684\u5c0f\u7d44\u4f86\u8655\u7406\uff0c\u5176\u4eba\u54e1\u5305\u62ec\uff1a\u5f8b\u5e2b\u3001\u6703\u8a08\u5e2b\u3001\u5206\u6790\u5e2b\u53ca\u884c\u696d\u5c08\u5bb6\uff0c\u4ed6\u5011\u6703\u5c0d\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u8207SEC\u7684\u8981\u6c42\u662f\u5426\u76f8\u7b26\u9032\u884c\u78ba\u8a8d\uff0c\u4e26\u5c0d\u88e1\u9762\u7684\u6240\u6709\u4fe1\u606f\u4f5c\u5fb9\u5e95\u7684\u6aa2\u67e5\u548c\u8b49\u5be6\u3002\u6839\u64da\u6709\u95dc\u898f\u5b9a\uff0c\u8a3b\u518a\u767b\u8a18\u81ea\u905e\u4ea4\u4e4b\u65e520\u5929\u540e\u81ea\u52d5\u751f\u6548\uff0c\u4f46\u4e5f\u670920\u5929\u751f\u6548\u671f\u81ea\u52d5\u5ef6\u9577\u7684\u689d\u6b3e\u3002\u6b63\u5e38\u60c5\u6cc1\u4e0b\uff0c\u7533\u8acb\u767b\u8a18\u4eba\u4e00\u822c\u6703\u5728\u9996\u6b21\u905e\u4ea4\u5831\u544a\u5f8c4\u20146\u500b\u661f\u671f\u6536\u5230SEC\u7684\u7b2c\u4e00\u5c01\u610f\u898b\u4fe1\u3002<\/p>\n

3\uff0e\u610f\u898b\u4fe1<\/strong>
\nSEC\u5c0d\u516c\u53f8\u63d0\u4ea4\u7684\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u9032\u884c\u5be9\u67e5\u5f8c\uff0c\u6703\u767c\u51fa\u4e00\u5c01\u610f\u898b\u4fe1\u3002\u5176\u4e3b\u8981\u8868\u660eSEC\u6210\u54e1\u8a8d\u70ba\u516c\u53f8\u8a72\u5982\u4f55\u4fee\u6539\u62db\u80a1\u66f8\uff0c\u4f7f\u5176\u66f4\u5b8c\u5584\u3001\u66f4\u6e96\u78ba\u3002\u5176\u5167\u5bb9\u4e3b\u8981\u5305\u62ec\uff1a
\n\u00b7\u516c\u53f8\u76ee\u524d\u60c5\u6cc1\u3001\u696d\u52d9\u3001\u7522\u54c1\u53ca\u670d\u52d9\u5982\u4f55
\n\u00b7\u95dc\u65bc\u65b0\u7522\u54c1\u7684\u6240\u6709\u4fe1\u606f\u90fd\u5df2\u62ab\u9732\uff0c\u5305\u62ec\u958b\u767c\u3001\u751f\u7522\u3001\u71df\u92b7\u53ca\u914d\u552e\u6eff\u610f\u7a0b\u5ea6
\n\u00b7\u7ba1\u7406\u5c64\u4eba\u54e1\u7684\u80cc\u666f\u548c\u7d93\u6b77\u662f\u5426\u6709\u865b\u5047\u6210\u5206\u6216\u8005\u6c92\u6709\u5168\u9762\u62ab\u9732
\n\u00b7\u6240\u6709\u7684\u95dc\u806f\u4ea4\u6613\u662f\u5426\u5168\u90e8\u62ab\u9732\u4e86
\n\u00b7\u8981\u6c42\u5c0d\u8ca1\u52d9\u5831\u8868\u62ab\u9732\u9032\u884c\u89e3\u91cb\u4e26\u52a0\u5165\u98a8\u96aa\u56e0\u7d20
\n\u00b7\u7ba1\u7406\u5c64\u5c0d\u696d\u52d9\u7684\u5206\u6790\u548c\u8ad6\u8ff0\u662f\u5426\u5145\u5206<\/p>\n

(\u4e94)\u4fee\u6539\u5831\u544a<\/strong>
\n\u516c\u53f8\u61c9\u6839\u64daSEC\u7684\u610f\u898b\u4fe1\uff0c\u4fee\u6539\u81ea\u5df1\u7684\u8a3b\u518a\u767b\u8a18\u66f8\uff0c\u4e3b\u8981\u6709\u4ee5\u4e0b\u5f62\u5f0f\uff1a
\n1\uff0e\u5ef6\u9072\u4fee\u6539\u5831\u544a\uff1a\u8981\u6c42\u5ef6\u957720\u5929\u7684\u8a3b\u518a\u767b\u8a18\u5931\u6548\u671f\uff0c\u4ee5\u907f\u514d\u8a3b\u518a\u767b\u8a18
\n\u5931\u6548\u3002
\n2\uff0e\u5be6\u8cea\u4fee\u6b63\u5831\u544a\uff1a\u5f4c\u88dc\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u4e2d\u7684\u4e00\u4e9b\u7f3a\u9677\u3002
\n3\uff0e\u50f9\u683c\u4fee\u6b63\u5831\u544a\uff1a\u5c0d\u767c\u884c\u50f9\u548c\u6700\u7d42\u7684\u767c\u884c\u6578\u9032\u884c\u78ba\u8a8d\u3002<\/p>\n

(\u516d)SEC\u590d\u6838<\/strong>
\n\u590d\u6838\u7684\u76ee\u7684\u662f\u8b49\u660e\u516c\u53f8\u7684\u4fe1\u606f\u62ab\u9732\u662f\u5426\u6070\u7576\uff0c\u4e00\u822c\u4ee5\u4fe1\u4ef6\u6216\u96fb\u8a71\u7684\u65b9\u5f0f\u8868
\n\u8ff0\u81ea\u5df1\u7684\u89c0\u9ede\uff0c\u5206\u70ba\u4ee5\u4e0b\u5e7e\u7a2e\u8907\u6838\u65b9\u5f0f\uff1a
\n1\uff0e\u5ef6\u9072\u590d\u6838\uff1a\u5982\u679cSEC\u8a8d\u70ba\u8a3b\u518a\u767b\u8a18\u5831\u544a\u5b8c\u5168\u6c92\u6709\u53ef\u770b\u4e4b\u8655\uff0c\u6703\u767c\u4e00\u5c01bedbug lette\uff0c\u5efa\u8b70\u8a3b\u518a\u767b\u8a18\u4eba\u64a4\u56de\u8a3b\u518a\u767b\u8a18\uff0c\u5426\u5247\u767c\u51fa\u4e2d\u6b62\u547d\u4ee4\u3002
\n2\uff0e\u7c97\u7565\u590d\u6838\uff1a\u82e5SEC\u8a8d\u70ba\u8a3b\u518a\u767b\u8a18\u66f8\u6c92\u6709\u592a\u5927\u7684\u554f\u984c\uff0c\u8981\u6c42\u516c\u53f8\u7684\u4e2d\u4ecb\u6a5f\u69cb\u627f\u64d4\u76f8\u61c9\u7684\u6cd5\u5f8b\u8cac\u4efb\u3002
\n3\uff0e\u6982\u8981\u5fa9\u6838\uff1aSEC\u6210\u54e1\u5c31\u6709\u9650\u7684\u554f\u984c\u9032\u884c\u6307\u9ede\u3002
\n4\uff0e\u6700\u7d42\u590d\u6838\uff1a\u7531\u8907\u6838\u5c0f\u7d44\u4e2d\u7684\u5404\u65b9\u5c08\u5bb6\u5c0d\u8a3b\u518a\u767b\u8a18\u8b49\u660e\u66f8\u9032\u884c\u5168\u9762\u590d\u6838\uff0c\u518d\u7531\u4e3b\u7ba1\u51fa\u5177\u4e00\u4efd\u8a73\u7d30\u7684\u610f\u898b\u4fe1\u3002<\/p>\n

(\u4e03)\u901a\u904e\u6216\u4e2d\u6b62\u547d\u4ee4<\/strong>
\n\u5982\u679cSEC\u767c\u51fa\u8981\u6c42\u66ab\u505c\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u751f\u6548\u7684\u547d\u4ee4\uff0c\u5247\u8868\u660e\u516c\u53f8\u4e0d\u5f97\u767c\u884c\u4e0a\u5e02\uff0c\u5426\u5247\u9055\u6cd5\u3002
\n\u5982\u679cSEC\u4e0d\u5c0d\u7d93\u4fee\u6539\u5f8c\u7684\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u63d0\u51fa\u4efb\u4f55\u610f\u898b\uff0c\u5247\u8868\u660e\u901a\u904e\uff0c\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u572820\u65e5\u5167\u81ea\u52d5\u751f\u6548\u3002<\/p>\n

(\u516b)NASQ\u590d\u6838<\/strong>
\n\u5728\u7f8e\u570b\uff0c\u516c\u53f8\u8a3b\u518a\u767b\u8a18\u767c\u884c\u80a1\u7968\uff0c\u9084\u5fc5\u9808\u5f97\u5230\u5168\u570b\u8b49\u5238\u4ea4\u6613\u5546\u5354\u6703(NASQ)\u7684\u6279\u51c6\u3002\u5176\u8907\u6838\u4e3b\u8981\u4f9d\u64das\u2014K\u689d\u4f8b\u5c0d\u8a3b\u518a\u767b\u8a18\u8aaa\u660e\u66f8\u7684\u5167\u5bb9\u4ee5\u53ca\u627f\u92b7\u5546\u7684\u4f63\u91d1\u9032\u884c\u5be9\u67e5\uff0c\u76ee\u7684\u662f\u4e86\u89e3\u627f\u92b7\u5546\u7684\u4f63\u91d1\u662f\u5426\u5408\u7406\uff0c\u4ee5\u4fdd\u8b49\u5ee3\u5927\u516c\u773e\u6295\u8cc7\u8005\u7684\u5229\u76ca\u3002<\/p>\n

\u4e09\u3001\u8def\u6f14\u53ca\u5b9a\u50f9<\/strong><\/p>\n

\u8def\u6f14\u53ca\u5176\u4f5c\u7528<\/strong>
\n\u8def\u6f14\uff0c\u82f1\u6587\u70baRoad Show\uff0c\u662f\u6295\u8cc7\u8005\u8207\u8b49\u5238\u767c\u884c\u4eba\u5728\u5145\u5206\u4ea4\u6d41\u7684\u689d\u4ef6\u4e0b\u4fc3\u9032\u80a1\u7968\u6210\u529f\u767c\u884c\u7684\u91cd\u8981\u63a8\u4ecb\u624b\u6bb5\u3002\u4e3b\u8981\u6307\u8b49\u5238\u767c\u884c\u4eba\u5728\u767c\u884c\u524d\uff0c\u5728\u4e3b\u8981\u7684\u8def\u6f14\u5730\u5c0d\u53ef\u80fd\u7684\u6295\u8cc7\u8005\u9032\u884c\u5de1\u8ff4\u63a8\u4ecb\u6d3b\u52d5\u3002\u662d\u793a\u5c07\u767c\u884c\u8b49\u5238\u7684\u50f9\u503c\uff0c\u52a0\u6df1\u6295\u8cc7\u8005\u7684\u8a8d\u77e5\u7a0b\u5ea6\uff0c\u4e26\u5f9e\u4e2d\u4e86\u89e3\u6295\u8cc7\u4eba\u7684\u6295\u8cc7\u610f\u5411\uff0c\u767c\u73fe\u9700\u6c42\u548c\u50f9\u503c\u5b9a\u4f4d\uff0c\u78ba\u4fdd\u8b49\u5238\u7684\u6210\u529f\u767c\u884c\u3002
\n\u7db2\u4e0a\u8def\u6f14\uff0c\u662f\u6307\u8b49\u5238\u767c\u884c\u4eba\u548c\u7db2\u6c11\u901a\u904e\u4e92\u806f\u7db2\u9032\u884c\u4e92\u52d5\u4ea4\u6d41\u7684\u6d3b\u52d5\u3002\u901a\u904e\u5be6\u6642\u3001\u958b\u653e\u3001\u4ea4\u4e92\u7684\u7db2\u4e0a\u4ea4\u6d41\uff0c\u4e00\u65b9\u9762\u53ef\u4ee5\u4f7f\u8b49\u5238\u767c\u884c\u4eba\u9032\u4e00\u6b65\u5c55\u793a\u6240\u767c\u884c\u8b49\u5238\u7684\u50f9\u503c\uff0c\u52a0\u6df1\u6295\u8cc7\u8005\u7684\u8a8d\u77e5\u7a0b\u5ea6\uff0c\u4e26\u5f9e\u4e2d\u4e86\u89e3\u6295\u8cc7\u4eba\u7684\u6295\u8cc7\u610f\u5411\uff0c\u5c0d\u6295\u8cc7\u8005\u9032\u884c\u7b54\u7591\u89e3\u60d1\uff1b\u53e6\u4e00\u65b9\u9762\u4f7f\u5404\u985e\u6295\u8cc7\u8005\u4e86\u89e3\u4f01\u696d\u7684\u5167\u5728\u50f9\u503c\u548c\u5e02\u5834\u5b9a\u4f4d\uff0c\u4e86\u89e3\u4f01\u696d\u9ad8\u7ba1\u4eba\u54e1\u7684\u7d20\u8cea\uff0c\u5f9e\u800c\u66f4\u52a0\u6e96\u78ba\u5730\u5224\u65b7\u516c\u53f8\u7684\u6295\u8cc7\u50f9\u503c\u3002
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\n\u7531\u65bc\u570b\u5916\u8207\u570b\u5167\u7684\u5e02\u5834\u53c3\u8207\u8005\u7684\u7d50\u69cb\u4e0d\u540c\uff0c\u570b\u5916\u4e3b\u8981\u662f\u6a5f\u69cb\uff0c\u65b0\u80a1\u767c\u884c\u516c\u53f8\u53ef\u4ee5\u901a\u904e\u8def\u6f14\u8207\u4e4b\u6e9d\u901a\uff0c\u800c\u5728\u570b\u5167\uff0c\u4e2d\u5c0f\u6563\u6236\u662f\u8b49\u5238\u5e02\u5834\u7684\u751f\u529b\u8ecd\uff0c\u800c\u4e14\u5b58\u5728\u8457\u4fe1\u606f\u4e0d\u5c0d\u7a31\u7684\u554f\u984c\u3002\u56e0\u6b64\uff0c\u5728\u570b\u5167\uff0c\u7db2\u4e0a\u8def\u6f14\u66f4\u91cd\u8981\u3001\u66f4\u6d41\u884c\uff0c\u5b83\u662f\u5be6\u73fe\u65b0\u80a1\u767c\u884c\u516c\u53f8\u548c\u4e2d\u5c0f\u6295\u8cc7\u8005\u9032\u884c\u6e9d\u901a\u7684\u6709\u6548\u9014\u5f91\uff0c\u4e26\u5c07\u8d77\u5230\u8f3f\u8ad6\u76e3\u7763\u3001\u5f37\u5316\u4fe1\u606f\u62ab\u9732\u3001\u589e\u52a0\u65b0\u80a1\u767c\u884c\u900f\u660e\u5ea6\u7684\u4f5c\u7528\u3002<\/p>\n

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\u56db\u3001\u8b49\u5238\u627f\u92b7<\/strong>
\n\u8b49\u5238\u627f\u92b7\u985e\u578b
\n\u8b49\u5238\u767c\u884c\u9700\u8981\u627f\u92b7\u5546\u5c07\u767c\u884c\u4eba\u767c\u884c\u7684\u8b49\u5238\u627f\u92b7\u51fa\u53bb\u3002\u800c\u8b49\u5238\u627f\u92b7\u5c31\u662f\u901a\u904e\u627f\u92b7\u5546\u5c07\u516c\u53f8\u64ec\u767c\u884c\u7684\u65b0\u80a1\u7968\u767c\u552e\u51fa\u53bb\u3002
\n\u8b49\u5238\u627f\u92b7\u4e00\u822c\u53ef\u4ee5\u5206\u70ba\u4ee5\u4e0b\u5e7e\u7a2e\u985e\u578b\uff1a
\n1\uff0e\u6309\u627f\u92b7\u8b49\u5238\u7684\u985e\u5225\u53ef\u4ee5\u5206\u70ba\u4e2d\u592e\u653f\u5e9c\u548c\u5730\u65b9\u653f\u5e9c\u767c\u884c\u7684\u50b5\u5238\u627f\u92b7\uff0c\u4f01\u696d\u652f\u884c\u7684\u50b5\u5238\u548c\u80a1\u7968\u627f\u92b7\uff0c\u5916\u570b\u653f\u5e9c\u767c\u884c\u7684\u50b5\u5238\u627f\u92b7\uff0c\u570b\u969b\u91d1\u878d\u6a5f\u69cb\u767c\u884c\u7684\u8b49\u5238\u627f\u92b7\u7b49\u3002
\n2\uff0e\u6309\u8b49\u5238\u767c\u884c\u65b9\u5f0f\u5206\u70ba\u79c1\u52df\u767c\u884c\u627f\u92b7\u548c\u516c\u52df\u767c\u884c\u627f\u92b7\u3002\u516c\u52df\u767c\u884c\u662f\u6307\u628a\u4e3b\u5238\u767c\u884c\u7d66\u5ee3\u5927\u793e\u6703\u516c\u773e\uff1b\u79c1\u52df\u767c\u884c\u662f\u6307\u628a\u8b49\u5238\u767c\u884c\u7d66\u6578\u91cf\u6709\u9650\u7684\u6a5f\u69cb\u6295\u8cc7\u8005\uff0c\u5982\u4fdd\u96aa\u516c\u53f8\u3001\u57fa\u91d1\u516c\u53f8\u7b49\u3002\u79c1\u52df\u767c\u884c\u65b9\u5f0f\u4e00\u822c\u8f03\u591a\u91c7\u7528\u76f4\u63a5\u92b7\u552e\u65b9\u5f0f\uff0c\u4e0d\u5fc5\u5411\u8b49\u5238\u7ba1\u7406\u6a5f\u95dc\u8fa6\u7406\u9aee\u884c\u8a3b\u518a\u624b\u7e8c\uff0c\u56e0\u6b64\u53ef\u4ee5\u7bc0\u7701\u627f\u92b7\u8cbb\u7528\uff1b\u800c\u516c\u52df\u767c\u884c\u5247\u8981\u901a\u904e\u7e41\u7463\u7684\u8a3b\u518a\u624b\u7e8c\uff0c\u5982\u5728\u7f8e\u570b\u767c\u884c\u7684\u8b49\u5238\u5fc5\u9808\u5728\u51fa\u552e\u8b49\u5238\u7684\u6240\u5728\u5dde\u8a3b\u518a\u767b\u8a18\uff0c\u901a\u904e\u201c\u85cd\u5929\u6cd5\u201d(Blue\u2014Sky Laws)\u7684\u8981\u6c42\u3002
\n3\uff0e\u6309\u627f\u92b7\u5354\u8b70\u7684\u4e0d\u540c\u53ef\u5206\u70ba\u5305\u92b7\u3001\u4ee3\u92b7\u3002\u8b49\u5238\u4ee3\u92b7\u662f\u6307\u6295\u8cc7\u9280\u884c\u4ee3\u767c\u884c\u4eba\u767c\u552e\u8b49\u5238\uff0c\u5c07\u672a\u51fa\u552e\u7684\u8b49\u5238\u5168\u90e8\u9000\u9084\u7d66\u767c\u884c\u4eba\u7684\u627f\u92b7\u65b9\u5f0f\u3002\u8b49\u5238\u5305\u92b7\u662f\u6307\u6295\u8cc7\u9280\u884c\u5c07\u767c\u884c\u4eba\u7684\u8b49\u5238\u6309\u7167\u5354\u8b70\u5168\u90e8\u8cfc\u5165\u6216\u8005\u5728\u627f\u92b7\u671f\u7d50\u675f\u6642\u5c07\u552e\u5f8c\u5269\u9918\u8b49\u5238\u5168\u90e8\u81ea\u884c\u8cfc\u4eba\u7684\u627f\u92b7\u65b9\u5f0f\uff0c\u901a\u5e38\uff0c\u5e7e\u4e4e\u6240\u6709\u7684\u627f\u92b7\u90fd\u63a1\u53d6\u5305\u92b7\u65b9\u5f0f\u3002\u5305\u92b7\u65b9\u5f0f\u5c07\u767c\u884c\u4eba\u7684\u98a8\u96aa\u5168\u90e8\u8f49\u79fb\u5230\u6295\u8cc7\u9280\u884c\u8eab\u4e0a\uff0c\u767c\u884c\u4eba\u56e0\u6b64\u5fc5\u9808\u4ed8\u7d66\u6295\u8cc7\u9280\u884c\u66f4\u5927\u7684\u5831\u916c\u3002<\/p>\n

\u4e8c\u3001\u627f\u92b7\u7a0b\u5e8f<\/strong>
\n1\uff0e\u767c\u884c\u6e96\u5099\u968e\u6bb5\uff1a\u767c\u884c\u4eba\u6839\u64da\u81ea\u8eab\u7684\u7d93\u71df\u60c5\u6cc1\uff0c\u63d0\u51fa\u878d\u8cc7\u9700\u8981\u5f8c\uff0c\u6295\u8cc7\u9280\u884c\u5229\u7528\u5176\u7d93\u9a57\u3001\u4eba\u624d\u53ca\u4fe1\u606f\u4e0a\u7684\u512a\u52e2\uff0c\u5728\u5c0d\u767c\u884c\u4eba\u7684\u57fa\u672c\u60c5\u6cc1(\u5305\u62ec\u516c\u53f8\u767c\u5c55\u6b77\u53f2\u3001\u8ca1\u52d9\u72c0\u6cc1\u3001\u7d44\u7e54\u7d50\u69cb\u72c0\u6cc1\u3001\u52df\u96c6\u8cc7\u91d1\u7684\u6295\u5411\u3001\u64ec\u767c\u884c\u8b49\u5238\u5728\u5e02\u5834\u4e0a\u7684\u53d7\u6b61\u8fce\u7a0b\u5ea6\u3001\u9818\u5c0e\u6210\u54e1\u7b49)\u9032\u884c\u8a73\u7d30\u8abf\u67e5\u3001\u7814\u7a76\u3001\u5206\u6790\u7684\u57fa\u790e\u4e0a\uff0c\u5c31\u8b49\u5238\u767c\u884c\u7684\u7a2e\u985e\u3001\u6642\u9593\u3001\u689d\u4ef6\u7b49\u5411\u767c\u884c\u4eba\u63d0\u51fa\u5efa\u8b70\u3002\u5982\u679c\u96d9\u65b9\u80fd\u5c31\u6b64\u6b21\u627f\u92b7\u9054\u6210\u521d\u6b65\u610f\u5411\uff0c\u6295\u8cc7\u9280\u884c\u9084\u8981\u5411\u767c\u884c\u4eba\u63d0\u4f9b\u5176\u6240\u9700\u7684\u8cc7\u6599\uff0c\u5305\u62ec\u5b8f\u89c0\u7d93\u6fdf\u5206\u6790\u3001\u884c\u696d\u5206\u6790\u3001\u540c\u884c\u696d\u516c\u53f8\u80a1\u7968\u72c0\u6cc1\u7b49\uff0c\u4ee5\u4f9b\u53c3\u8003\u3002<\/p>\n

2\uff0e\u7c3d\u8a02\u5354\u8b70\u968e\u6bb5\uff1a\u7576\u767c\u884c\u4eba\u78ba\u5b9a\u8b49\u5238\u7684\u7a2e\u985e\u548c\u767c\u884c\u689d\u4ef6\uff0c\u4e26\u4e14\u5831\u7d93\u8b49\u5238\u7ba1\u7406\u90e8\u9580(\u5982\u7f8e\u570b\u7684\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\uff0cSEC)\u6279\u51c6\u5f8c\uff0c\u8207\u6295\u8cc7\u9280\u884c\u7c3d\u8a02\u5354\u8b70\uff0c\u7531\u6295\u8cc7\u9280\u884c\u5e6b\u52a9\u5176\u92b7\u552e\u8b49\u5238\u3002\u627f\u92b7\u5354\u8b70\u7684\u7c3d\u8a02\u662f\u767c\u884c\u4eba\u8207\u6295\u8cc7\u9280\u884c\u5171\u540c\u5354\u5546\u7684\u7d50\u679c\uff0c\u96d9\u65b9\u90fd\u61c9\u672c\u8457\u5766\u8aa0\u3001\u4fe1\u4efb\u7684\u539f\u5247\u3002\u6bd4\u5982\u767c\u884c\u50f9\u683c\u7684\u78ba\u5b9a\u5c31\u8981\u517c\u9867\u767c\u884c\u4eba\u548c\u6295\u8cc7\u9280\u884c\u96d9\u65b9\u7684\u5229\u76ca\uff1a\u904e\u9ad8\u7684\u50f9\u683c\u5c0d\u767c\u884c\u4eba\u6709\u5229\uff0c\u53ef\u4ee5\u4f7f\u767c\u884c\u4eba\u7372\u5f97\u66f4\u5927\u7684\u878d\u8cc7\u6b3e\uff0c\u70ba\u516c\u53f8\u672a\u4f86\u7684\u767c\u5c55\u6253\u4e0b\u826f\u597d\u7684\u57fa\u790e\uff0c\u4f46\u6295\u8cc7\u9280\u884c\u53ef\u80fd\u8981\u5192\u5f88\u5927\u7684\u767c\u884c\u5931\u6557\u98a8\u96aa\uff1b\u904e\u4f4e\u7684\u50f9\u683c\u5247\u76f8\u53cd\uff0c\u6295\u8cc7\u9280\u884c\u6a02\u65bc\u63a5\u53d7\uff0c\u800c\u767c\u884c\u4eba\u7684\u7c4c\u8cc7\u8a08\u5283\u53ef\u80fd\u6703\u6d41\u65bc\u5931\u6557\u3002\u56e0\u6b64\uff0c\u6295\u8cc7\u9280\u884c\u8207\u767c\u884c\u4eba\u4e4b\u9593\u61c9\u7d9c\u5408\u8003\u616e\u80a1\u7968\u7684\u5167\u5728\u50f9\u503c\u3001\u5e02\u5834\u4f9b\u6c42\u72c0\u6cc1\u53ca\u767c\u884c\u4eba\u6240\u8655\u7684\u884c\u696d\u767c\u5c55\u72c0\u6cc1\u7b49\u56e0\u7d20\uff0c\u5b9a\u51fa\u4e00\u500b\u5408\u7406\u7684\u3001\u96d9\u65b9\u90fd\u80fd\u63a5\u53d7\uff0c\u4e26\u80fd\u4f7f\u627f\u92b7\u7372\u5f97\u6210\u529f\u7684\u50f9\u683c\u3002\u5982\u679c\u767c\u884c\u4eba\u7684\u8b49\u5238\u6578\u91cf\u6578\u984d\u8f03\u5927\u6642\uff0c\u4e00\u5bb6\u6295\u8cc7\u9280\u884c\u53ef\u80fd\u96e3\u4ee5\u627f\u53d7\uff0c\u5247\u727d\u982d\u7d93\u7406\u4eba(Lead Manager\uff0c\u6700\u65e9\u7684\u90a3\u5bb6\u6295\u8cc7\u9280\u884c)\u53ef\u4ee5\u7d44\u6210\u8f9b\u8fea\u52a0(Syndicate)\u6216\u627f\u92b7\u5718\uff0c\u7531\u591a\u5bb6\u6295\u8cc7\u9280\u884c\u4e00\u8d77\u627f\u92b7\u3002\u5982\u679c\u727d\u982d\u7d93\u7406\u4eba\u4e0d\u6b62\u4e00\u5bb6\uff0c\u90a3\u9ebc\u6574\u500b\u96c6\u5718\u5c31\u88ab\u7a31\u70ba\u806f\u5408\u727d\u982d\u7d93\u7406\u4eba(Co-leadManager)\u3002\u9664\u4e86\u727d\u982d\u7d93\u7406\u4eba\uff0c\u96c6\u5718\u88e1\u9084\u6709\u7d93\u7406\u4eba(Manager)\u3001\u4e3b\u627f\u92b7\u5546(Major Bracket)\u3001\u8f14\u627f\u92b7\u5546(MezzanineBracket)\u548c\u6b21\u627f\u92b7\u5546(sub-Major Bracket)\uff0c\u5404\u5bb6\u6295\u8cc7\u9280\u884c\u5728\u96c6\u5718\u4e2d\u7684\u5730\u4f4d\u662f\u7531\u5176\u5728\u96c6\u5718\u4e2d\u6240\u4f54\u7684\u80a1\u4efd\u6c7a\u5b9a\u7684\u3002
\n3\uff0e\u8b49\u5238\u92b7\u552e\u968e\u6bb5\uff1a\u6295\u8cc7\u9280\u884c\u8207\u8b49\u5238\u767c\u884c\u4eba\u7c3d\u8a02\u5354\u8b70\u5f8c\uff0c\u4fbf\u8457\u624b\u8b49\u5238\u7684\u92b7\u552e\uff0c\u628a\u767c\u884c\u7684\u8b49\u5238\u92b7\u552e\u7d66\u5ee3\u5927\u6295\u8cc7\u8005\u3002\u7576\u7136\uff0c\u5728\u79c1\u52df\u767c\u884c\u65b9\u5f0f\u4e2d\uff0c\u6295\u8cc7\u9280\u884c\u53ea\u628a\u8b49\u5238\u92b7\u552e\u7d66\u6a5f\u69cb\u6295\u8cc7\u8005\uff0c\u56e0\u6b64\uff0c\u6295\u8cc7\u9280\u884c\u5728\u6b64\u74b0\u7bc0\u7684\u4f5c\u7528\u5f97\u5230\u5f31\u5316\u3002\u6295\u8cc7\u9280\u884c\u7d44\u7e54\u4e00\u500b\u9f90\u5927\u7684\u92b7\u552e\u96c6\u5718\uff0c\u6b64\u96c6\u5718\u4e2d\u4e0d\u50c5\u5305\u62ec\u7d93\u7406\u4eba\u548c\u627f\u92b7\u5546\uff0c\u9084\u5305\u62ec\u975e\u8f9b\u8fea\u52a0\u7684\u6210\u54e1\uff0c\u5f37\u5927\u7684\u92b7\u552e\u7db2\u7d61\u4f7f\u8b49\u5238\u7684\u9806\u5229\u92b7\u552e\u5f97\u5230\u5be6\u73fe\u3002<\/p>\n

\u4e94\u3001\u639b\u724c\u4e0a\u5e02<\/strong>
\nIPO\u5f8c\uff0c\u5c31\u53ef\u4ee5\u6839\u64da\u8207\u4ea4\u6613\u6240\u7684\u5354\u8b70\uff0c\u639b\u724c\u4e0a\u5e02\u4e86\u3002\u639b\u724c\u4e0a\u5e02\u5f8c\uff0c\u80a1\u7968\u5c31\u53ef\u4ee5\u516c\u958b\u6d41\u901a\u4e86\u3002 IPO\u5ba3\u544a\u5b8c\u6210\u3002<\/p>\n

IPO\u512a\u9ede<\/strong>
\n\u52df\u96c6\u8cc7\u91d1
\n\u6d41\u901a\u6027\u597d
\n\u6a39\u7acb\u540d\u8072
\n\u56de\u5831\u500b\u4eba\u548c\u98a8\u6295\u7684\u6295\u5165
\nIPO\u7f3a\u9ede
\n\u8cbb\u7528\uff08\u53ef\u80fd\u9ad8\u905420%\uff09
\n\u516c\u53f8\u5fc5\u9808\u7b26\u5408SEC\u898f\u5b9a
\n\u7ba1\u7406\u5c64\u58d3\u529b
\n\u83ef\u723e\u8857\u7684\u77ed\u8996
\n\u5931\u53bb\u5c0d\u516c\u53f8\u7684\u63a7\u5236<\/p>\n

IPO\u7684\u8cbb\u7528<\/strong>
\nIPO\u8cbb\u7528\u4e00\u822c\u5305\u62ec\u5f8b\u5e2b\u8cbb\u7528\uff0c\u4fdd\u85a6\u4eba\u8cbb\u7528\u3001\u4e2d\u4ecb\u8cbb\u7528\u3001\u516c\u958b\u767c\u884c\u8aaa\u660e\u66f8\u8cbb\u7528\u4ee5\u53ca\u627f\u92b7\u5546\u7684\u4f63\u91d1\u3002\u5728\u7f8e\u570bIPO\u8cbb\u7528\u4e00\u822c\u70ba100\uff0d150\u842c\u7f8e\u91d1\uff0c\u540c\u6642\u4e5f\u8981\u652f\u4ed88%\uff0d12%\u7684\u7c4c\u8cc7\u4f63\u91d1\u3002\u5728\u7f8e\u570bNASDAQ\u76f4\u63a5\u4e0a\u5e02\u7684\u6210\u672c\u4e5f\u8f03\u9ad8\uff0cIPO\u8cbb\u7528\u4e00\u822c\u57282000\u842c\u5143\u4eba\u6c11\u5e63\u5de6\u53f3\uff0c\u5728\u7c4c\u8cc7\u984d\u768410%\u4ee5\u4e0a\u3002
\n\u4e2d\u570b\u516c\u53f8\u5728\u7f8e\u570bIPO\u60c5\u6cc1<\/p>\n\n\n\n\n\n\n\n\n
\u5e74\u5ea6<\/span><\/td>\n\u7ebd\u4ea4\u6240<\/span><\/td>\n\u7eb3\u65af\u8fbe\u514b<\/span><\/td>\n\u7e3d\u8a08<\/span><\/td>\n<\/tr>\n
2006<\/span><\/td>\n3<\/span><\/td>\n4<\/span><\/td>\n7<\/span><\/td>\n<\/tr>\n
2007<\/span><\/td>\n18<\/span><\/td>\n11<\/span><\/td>\n29<\/span><\/td>\n<\/tr>\n
2008<\/span><\/td>\n3<\/span><\/td>\n1<\/span><\/td>\n4<\/span><\/td>\n<\/tr>\n
2009<\/span><\/td>\n5<\/span><\/td>\n5<\/span><\/td>\n10<\/span><\/td>\n<\/tr>\n
2010<\/span><\/td>\n22<\/span><\/td>\n12<\/span><\/td>\n34<\/span>\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u56de\u9867\u904e\u53bb\u5e7e\u5e74\u4e2d\u570b\u516c\u53f8\u5728\u7f8e\u570bIPO\u4e0a\u5e02\u7684\u6b77\u53f2\uff1a<\/strong>
\n\u4e2d\u570b\u516c\u53f8\u7f8e\u570bIPO\u59cb\u65bc1992\u5e74\u3002\u4f46\u5f9eIPO\u6578\u91cf\u4e0a\u770b\uff0c\u6bcf\u5e74\u5927\u898f\u6a21\u5728\u7f8e\u570b\u5e02\u5834IPO\u662f\u5f9e2006\u5e74\u958b\u59cb\u7684\u3002
\n2007\u5e74\uff0c\u7f8e\u570b\u8cc7\u672c\u5e02\u5834\u6574\u9ad4\u8868\u73fe\u5275\u6b77\u53f2\u65b0\u9ad8\uff0c\u9053\u74ca\u65af\u6307\u6578\u5275\u51fa14\uff0c279.96\u9ede\u7684\u6b77\u53f2\u65b0\u9ad8\u3002\u540c\u6642\u4e2d\u570b\u516c\u53f8\u5728\u7f8eIPO\u51fa\u73fe\u524d\u6240\u672a\u6709\u7684\u9ad8\u6f6e\uff0c\u5168\u5e74\u5171\u670929\u500bIPO\u3002
\n2008\u5e74\uff0c\u7531\u65bc\u5168\u7403\u91d1\u878d\u5371\u6a5f\u7206\u767c\uff0c\u5168\u5e74\u50c54\u5bb6\u4e2d\u570b\u516c\u53f8\u5728\u7f8eIPO\u3002
\n2009\u5e74\uff0c\u91d1\u878d\u5371\u6a5f\u57fa\u672c\u7d50\u675f\u3002\u81ea5\u6708\u4efd\u958b\u59cb\uff0c\u5168\u7403IPO\u5e02\u5834\u958b\u59cb\u51fa\u73fe\u56de\u6696\u3002\u5168\u7403\u516c\u53f8IPO\u96c6\u4e2d\u5728\u4e0b\u534a\u5e74\u3002\u5168\u5e74\u517110\u500bIPO\u3002\u5728\u7d0d\u65af\u9054\u514b\u5e02\u5834\u76845\u500bIPO\uff0c\u67094\u500b\u70ba\u5df2\u4e0a\u5e02\u516c\u53f8\u7684\u5206\u62c6\u3002\u50b3\u7d71\u610f\u7fa9\u4e0a\u7684\u55ae\u7368IPO\u53ea\u67096\u500b\u3002
\n2010\u5e74\uff0c\u4e2d\u570b\u516c\u53f8\u5728\u7f8eIPO\u6578\u91cf\u8d85\u904e\u4e862007\u5e74\uff0c\u6210\u70baIPO\u500b\u6578\u6700\u591a\u7684\u4e00\u5e74\u3002\u4e26\u4e14\u90fd\u662f\u55ae\u7368IPO\uff0c\u6c92\u6709\u5df2\u4e0a\u5e02\u516c\u53f8\u7684\u5206\u62c6\u4e0a\u5e02\u3002\u901934\u500bIPO\u7e3d\u5171\u52df\u96c6\u8cc7\u91d136\u5104\u7f8e\u5143\uff1b\u6309\u71672010\u5e7412\u670822\u65e5\u6536\u76e4\u50f9\u8a08\u7b97\uff0c\u7e3d\u5e02\u503c246.5\u5104\u7f8e\u5143\u3002<\/p>\n

2010\u5e7434\u5bb6\u5728\u7f8eIPO\u516c\u53f8\u540d\u55ae\u5982\u4e0b<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u7ebd\u4ea4\u6240<\/span><\/td>\n<\/tr>\n
\u7f16\u53f7\u865f<\/span><\/td>\n\u516c\u53f8\u540d\u7a31<\/span><\/td>\n\u4ea4\u6613\u4ee3\u7801<\/span><\/td>\n\u4e0a\u5e02\u65e5\u671f\u6708<\/span>\/\u65e5<\/span><\/td>\n<\/tr>\n
1<\/span><\/td>\n\u4e2d\u83ef\u6c34\u96fb<\/span><\/td>\nCHC<\/span><\/td>\n1\/25<\/span><\/td>\n<\/tr>\n
2<\/span><\/td>\n21<\/span>\u4e16\u7eaa\u4e0d\u52d5\u7522<\/span><\/td>\nCTC<\/span><\/td>\n1\/28<\/span><\/td>\n<\/tr>\n
3<\/span><\/td>\n\u6676\u79d1\u80fd\u6e90<\/span><\/td>\nCIS<\/span><\/td>\n5\/14<\/span><\/td>\n<\/tr>\n
4<\/span><\/td>\n\u65b0\u535a\u6da6\u96c6\u56e2<\/span><\/td>\nBORN<\/span><\/td>\n6\/11<\/span><\/td>\n<\/tr>\n
5<\/span><\/td>\n\u67ef\u83b1\u7279<\/span><\/td>\nCIS<\/span><\/td>\n7\/21<\/span><\/td>\n<\/tr>\n
6<\/span><\/td>\n\u5b89\u535a\u6559\u80b2<\/span><\/td>\nAMBO<\/span><\/td>\n8\/5<\/span><\/td>\n<\/tr>\n
7<\/span><\/td>\n\u5b89\u8f89\u533b\u91ab\u7642<\/span><\/td>\nKH<\/span><\/td>\n8\/11<\/span><\/td>\n<\/tr>\n
8<\/span><\/td>\n\u641c\u623f\u7db2<\/span><\/td>\nSFUN<\/span><\/td>\n9\/17<\/span><\/td>\n<\/tr>\n
9<\/span><\/td>\n\u9109\u6751\u57fa<\/span><\/td>\nCCSC<\/span><\/td>\n9\/28<\/span><\/td>\n<\/tr>\n
10<\/span><\/td>\n\u660e\u967d\u98a8\u96fb<\/span><\/td>\nMY<\/span><\/td>\n10\/1<\/span><\/td>\n<\/tr>\n
11<\/span><\/td>\n\u5927\u5168\u592a\u967d\u80fd<\/span><\/td>\nDQ<\/span><\/td>\n10\/7<\/span><\/td>\n<\/tr>\n
12<\/span><\/td>\n\u5c1a\u83ef\u91ab\u85e5<\/span><\/td>\nSHP<\/span><\/td>\n10\/19<\/span><\/td>\n<\/tr>\n
13<\/span><\/td>\n\u5b78\u800c\u601d<\/span><\/td>\nXRS<\/span><\/td>\n10\/20<\/span><\/td>\n<\/tr>\n
14<\/span><\/td>\n\u5b78\u5927<\/span><\/td>\nXUE<\/span><\/td>\n11\/2<\/span><\/td>\n<\/tr>\n
15<\/span><\/td>\n\u8bfa\u4e9a\u8d22\u5bcc<\/span><\/td>\nNOAH<\/span><\/td>\n11\/10<\/span><\/td>\n<\/tr>\n
16<\/span><\/td>\n\u6613\u8eca\u7db2<\/span><\/td>\nBITA<\/span><\/td>\n11\/17<\/span><\/td>\n<\/tr>\n
17<\/span><\/td>\n\u5e0c\u5c3c\u4e9e<\/td>\nXNY<\/span><\/td>\n11\/23<\/span><\/td>\n<\/tr>\n
18<\/span><\/td>\n\u601d\u6e90\u7d93\u7d00<\/td>\nSYSW<\/span><\/td>\n11\/24<\/span><\/td>\n<\/tr>\n
19<\/span><\/td>\n\u512a\u9177<\/td>\nYOUKU<\/span><\/td>\n12\/8<\/span><\/td>\n<\/tr>\n
20<\/span><\/td>\n\u5679\u5679\u7db2<\/td>\nDANG<\/span><\/td>\n12\/8<\/span><\/td>\n<\/tr>\n
21<\/span><\/td>\n\u806f\u62d3\u96c6\u5718<\/td>\nLAS<\/span><\/td>\n12\/10<\/span><\/td>\n<\/tr>\n
22<\/span><\/td>\n\u8edf\u901a\u52d5\u529b<\/td>\nISS<\/span><\/td>\n12\/14<\/span><\/td>\n<\/tr>\n
\u7e3d\u8a08<\/td>\n22<\/span><\/td>\n<\/tr>\n
\u7d0d\u65af\u9054\u514b<\/td>\n<\/tr>\n
\u7de8\u865f<\/td>\n\u516c\u53f8\u540d\u7a31<\/td>\n\u4ea4\u6613\u4ee3\u7801<\/span><\/td>\n\u4e0a\u5e02\u65e5\u671f\u6708<\/span>\/\u65e5<\/span><\/td>\n<\/tr>\n
1<\/span><\/td>\n\u6c49\u5ead\u9152\u5e97<\/span><\/td>\nHTHT<\/span><\/td>\n3\/26<\/span><\/td>\n<\/tr>\n
2<\/span><\/td>\n\u660c\u8363\u4f20\u64ad<\/span><\/td>\nCRRM<\/span><\/td>\n5\/5<\/span><\/td>\n<\/tr>\n
3<\/span><\/td>\n\u6d77\u8f89\u8f6f\u4ef6<\/span><\/td>\nHSFT<\/span><\/td>\n6\/30<\/span><\/td>\n<\/tr>\n
4<\/span><\/td>\n\u9ad8\u5fb7\u8f6f\u4ef6<\/span><\/td>\nAMAP<\/span><\/td>\n7\/1<\/span><\/td>\n<\/tr>\n
5<\/span><\/td>\n\u84dd\u8baf\u901a\u4fe1<\/span><\/td>\nCCIH<\/span><\/td>\n10\/1<\/span><\/td>\n<\/tr>\n
6<\/span><\/td>\n\u73af\u7403\u96c5\u601d<\/span><\/td>\nGEDU<\/span><\/td>\n10\/8<\/span><\/td>\n<\/tr>\n
7<\/span><\/td>\n\u9ea6\u8003\u6797<\/span><\/td>\nMCOX<\/span><\/td>\n10\/25<\/span><\/td>\n<\/tr>\n
8<\/span><\/td>\n\u5229\u519c\u56fd\u9645<\/span><\/td>\nGAGA<\/span><\/td>\n10\/28<\/span><\/td>\n<\/tr>\n
9<\/span><\/td>\n\u65b0\u9ad8\u5730<\/span><\/td>\nCTE<\/span><\/td>\n11\/2<\/span><\/td>\n<\/tr>\n
10<\/span><\/td>\n\u9510\u8fea\u79d1<\/span><\/td>\nRDA<\/span><\/td>\n11\/9<\/span><\/td>\n<\/tr>\n
11<\/span><\/td>\n\u535a\u7eb3\u5f71\u4e1a<\/span><\/td>\nBONA<\/span><\/td>\n12\/9<\/span><\/td>\n<\/tr>\n
12<\/span><\/td>\n\u65af\u51ef\u7f51\u7edc<\/span><\/td>\nMOBI<\/span><\/td>\n12\/10<\/span><\/td>\n<\/tr>\n
\u603b\u8ba1<\/span><\/td>\n12<\/span>\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u4e0a\u5e02\u61c9\u6ce8\u610f\u898f\u907f\u7684\u554f\u984c<\/strong>
\n\uff081\uff09\u696d\u7e3e\u9023\u7e8c\u8a08\u7b97\u554f\u984c\uff0d\u91cd\u7d44\u904e\u7a0b\u61c9\u4fdd\u8b49\u64ec\u4e0a\u5e02\u4e3b\u9ad4\u7684\u696d\u7e3e\u53ef\u9023\u7e8c\u8a08\u7b97
\n\uff082\uff09\u5883\u5916\u5916\u532f\u8cc7\u91d1\u554f\u984c\uff0d\u771f\u5be6\u3001\u5408\u6cd5
\n\uff083\uff09\u5c0d\u5916\u7d2f\u8a08\u6295\u8cc7\u554f\u984c\uff0d\u4e0d\u5f97\u8d85\u904e\u6de8\u8cc7\u752250%\uff0c\u5fc5\u9808\u4f9d\u6cd5\u8fa6\u7406
\n\uff084\uff09\u7ba1\u7406\u5c64\u7a69\u5b9a\u554f\u984c\uff0d\u5728\u8a2d\u7f6e\u8207\u6539\u7d44\u8463\u4e8b\u6703\u6642\uff0c\u61c9\u76e1\u91cf\u4fdd\u6301\u8463\u4e8b\u6703\u4e3b\u8981\u6210\u54e1\u7684\u7a69\u5b9a\u6027
\n\uff085\uff09\u540c\u696d\u7af6\u722d\u554f\u984c\uff0d\u4fdd\u969c\u5927\u80a1\u6771\u8207\u4e0a\u5e02\u516c\u53f8\u4e0d\u5b58\u5728\u540c\u696d\u7af6\u722d
\n\uff086\uff09\u696d\u52d9\u5283\u5206\u554f\u984c
\n\uff087\uff09\u95dc\u806f\u8f03\u6613\u554f\u984c
\n\uff088\uff09\u516c\u53f8\u904e\u5f80\u7a05\u6536\u7b49\u6b77\u53f2\u907a\u7559\u554f\u984c
\n\uff089\uff09\u5167\u90e8\u63a7\u5236\u554f\u984c
\n\uff0810\uff09\u571f\u5730\u554f\u984c
\n\uff0811\uff09\u5927\u80a1\u6771\u80a1\u6b0a\u7a00\u91cb\u554f\u984c<\/p>\n

 <\/p>\n

<\/a>\u6587\/\u777f\u7acb\u8cc7\u672c<\/span><\/p>\n

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1\u3001\u7f8e\u570b\u8b49\u5238\u5e02\u5834\u7684\u69cb\u6210\uff1a\uff081\uff09\u5168\u570b\u6027\u7684\u8b49\u5238\u5e02\u5834\u4e3b\u8981\u5305\u62ec\uff1a<\/p>\n","protected":false},"author":1,"featured_media":75638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[18],"tags":[],"series":[],"class_list":["post-75636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money"],"aioseo_notices":[],"featured_image_urls":{"thumbnail":"https:\/\/newsforchinese.com\/v3\/wp-content\/uploads\/2014\/04\/wall-150x150.jpg","medium":"https:\/\/newsforchinese.com\/v3\/wp-content\/uploads\/2014\/04\/wall-300x198.jpg","single_img":"https:\/\/newsforchinese.com\/v3\/wp-content\/uploads\/2014\/04\/wall-150x150.jpg"},"appp_media":null,"episode_featured_image":"https:\/\/newsforchinese.com\/v3\/wp-content\/uploads\/2014\/04\/wall.jpg","episode_player_image":"https:\/\/newsforchinese.com\/v3\/wp-content\/uploads\/2022\/11\/avatars-DFF30y5My1u3eZvX-2nXMSw-original.jpg","download_link":"","player_link":"","audio_player":false,"episode_data":{"playerMode":"dark","subscribeUrls":[],"rssFeedUrl":"https:\/\/newsforchinese.com\/v3\/feed\/podcast\/%e8%80%81%e4%b8%ad%e5%bb%a3%e6%92%ad%e9%9b%bb%e5%8f%b0","embedCode":"

\u7f8e\u570bIPO\u4e0a\u5e02\u6d41\u7a0b<\/a><\/blockquote>