{"id":123375,"date":"2024-09-01T20:15:29","date_gmt":"2024-09-01T12:15:29","guid":{"rendered":"https:\/\/www.growthhk.cn\/cgo\/model\/123375.html"},"modified":"2024-09-01T20:15:29","modified_gmt":"2024-09-01T12:15:29","slug":"%e8%be%97%e8%bd%ac%e5%a4%9a%e5%9b%bd%e4%b8%8a%e5%b8%82%e5%a4%b1%e8%b4%a5%e5%90%8e%ef%bc%8cshein%e8%bf%99%e6%ac%a1%e6%83%b3dpo%e9%80%9f%e9%80%9a%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/www.growthhk.cn\/cgo\/model\/123375.html","title":{"rendered":"\u8f97\u8f6c\u591a\u56fd\u4e0a\u5e02\u5931\u8d25\u540e\uff0cSHEIN\u8fd9\u6b21\u60f3\u201cDPO\u201d\u901f\u901a\uff1f"},"content":{"rendered":"

 <\/p>\n

<\/figure>\n

\u88ab\u7206\u6539\u5f26\u6613\u8f99\u201cDPO\u201d\u3001\u76f4\u63a5\u5411\u6563\u6237\u52df\u80a1\uff1aSHEIN\u60f3\u201c\u4f17\u7b79\u4e0a\u5e02\u201d\uff1f<\/p>\n

<\/h2>\n

\u64b0\u6587\/\u00a0\u5b59\u5b87\u6d69<\/strong><\/p>\n

\u7f16\u8f91\/ \u9648\u6653\u6653<\/strong><\/p>\n

<\/figure>\n

SHEIN\u88ab\u7206\u518d\u6362\u4e0a\u5e02\u8d5b\u9053\uff0c\u8fd9\u6b21\u6216\u8bb8\u5e72\u8106\u76f4\u63a5\u5411\u6563\u6237\u52df\u80a1\uff1a<\/p>\n

\u636e\u300a\u73af\u7403\u65f6\u62a5\u300b\u63f4\u5f15\u82f1\u5a92\u62a5\u9053\uff0cSHEIN\u8fd9\u5bb6\u5feb\u65f6\u5c1a\u96f6\u552e\u5de8\u5934\u6b63\u8ba1\u5212\u76f4\u63a5\u5411\u82f1\u56fd\u516c\u4f17\u51fa\u552e\u80a1\u7968\uff0c\u5176\u4e2d\u5305\u62ec\u6563\u6237\u6295\u8d44\u8005\u548c\u4e13\u4e1a\u6295\u8d44\u673a\u6784\u3002\u8fd9\u5c31\u662f\u8bf4\uff0c\u4ece\u7f8e\u56fd\u5230\u82f1\u56fd\u4e0a\u5e02\u5931\u8d25\uff0cSHEIN\u518d\u6362\u8d5b\u9053\uff1a\u8fd9\u6b21\u662fDPO\uff1f<\/p>\n

\u6b64\u524d\uff0cSHEIN\u88ab\u7206\u51fa\u5df2\u4e8e2024\u5e746\u6708\u5728\u4f26\u6566\u79d8\u5bc6\u4ea4\u8868\uff0c\u8ba1\u5212\u4ee5500\u4ebf\u82f1\u9551\u7684\u4f30\u503c\u4e0a\u5e02\u3002\u4f46\u56e0\u5546\u4e1a\u6a21\u5f0f<\/a><\/span>\u53ca\u9891\u53d1\u7684\u4fb5\u6743\u7ea0\u7eb7\uff0c\u4e5f\u4f7f\u5f97\u8fd9\u9879\u4f26\u6566\u4ea4\u6613\u6240\u6709\u53f2\u4ee5\u6765\u6700\u5927\u7684IPO\u8ba1\u5212\u5907\u53d7\u8d28\u7591\u3002<\/p>\n

<\/figure>\n

\u4e8b\u5b9e\u4e0a\uff0c\u884c\u4e1a\u5df2\u7ecf\u8bb0\u4e0d\u6e05\u8fd9\u662fSHEIN\u591a\u5c11\u6b21\u88ab\u7206\u51fa\u4e0a\u5e02\u6d88\u606f\u4e86\uff0c\u800c\u4e14\u6bcf\u6b21\u7206\u51fa\u7684\u4e0a\u5e02\u5730\u70b9\u3001\u65b9\u6cd5\u90fd\u5927\u76f8\u5f84\u5ead\u3002<\/strong><\/p>\n

\u5982\u679c\u6839\u636e\u65f6\u95f4\u7ebf\u68b3\u7406\u4e00\u4efdSHEIN\u4e0a\u5e02\u8def\u7ebf\u56fe\uff0c\u5176\u8de8\u8d8a\u5730\u7406\u8303\u56f4\u4e4b\u5e7f\u3001\u8f97\u8f6c\u56fd\u754c\u4e4b\u591a\u3001\u8def\u7ebf\u4e4b\u66f2\u6298\u3002<\/p>\n

\u636e\u5c71\u4e1c\u5546\u62a5\u62a5\u9053\uff0c\u53bb\u5e7412\u6708\uff0cSHEIN \u88ab\u66dd\u51fa\u8d74\u7f8e\u4e0a\u5e02\uff0c\u5e76\u5728\u7ebd\u7ea6\u79d8\u5bc6\u9012\u8868\uff0c\u4f46\u6700\u7ec8\u56e0\u4fb5\u6743\u3001\u52b3\u5de5\u3001\u73af\u4fdd\u7b49\u95ee\u9898\u672a\u80fd\u5982\u613f\uff1b<\/strong><\/p>\n

<\/figure>\n

\u4eca\u5e746\u6708\uff0cSky News \u62a5\u9053\uff0cSHEIN\u6b63\u51c6\u5907\u5411\u82f1\u56fd\u91d1\u878d\u884c\u4e3a\u76d1\u7ba1\u5c40\u63d0\u4ea4\u62db\u80a1\u8bf4\u660e\u4e66\uff0c6\u67086\u65e5\uff0c\u4f26\u6566\u4e0a\u5e02\u518d\u6b21\u9047\u963b\u3002<\/p>\n

6\u670829\u65e5\uff0c\u91d1\u878d\u65f6\u62a5\u62a5\u9053\uff0cSHEIN\u5236\u5b9a\u4e86\u5728\u9999\u6e2f\u4e0a\u5e02\u7684\u540e\u5907\u8ba1\u5212\uff0c\u8fd9\u80cc\u540e\u662f\u5176\u5728\u4f26\u6566\u8fdb\u884c\u9996\u6b21\u516c\u5f00\u52df\u80a1\u7684\u96c4\u5fc3\u906d\u9047\u4e86\u8d8a\u6765\u8d8a\u4e25\u683c\u7684\u5ba1\u67e5\u3002<\/p>\n

<\/figure>\n

\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u5728\u6b64\u8fc7\u7a0b\u4e2d\uff0cSHIEN\u5bf9\u542b\u6df7\u4e0d\u6e05\u7684\u81ea\u8eab\u7684\u5b9a\u4f4d\u66fe\u5f15\u53d1\u5916\u754c\u4e89\u8bae\u3002<\/strong>5\u67088\u65e5\uff0c\u5728\u6d1b\u6749\u77f6\u7c73\u5c14\u80af\u7814\u7a76\u6240(Milken Institute)\u5168\u7403\u5927\u4f1a\u4e0a\uff0cSHEIN\u6267\u884c\u4e3b\u5e2d\u5510\u7eb3\u5fb7(Donald Tang)\u7684\u5728\u88ab\u4e3b\u6301\u4eba\u95ee\u53ca\u201cSHEIN\u6765\u81ea\u54ea\u91cc\u201d\u65f6\uff0c\u5510\u7eb3\u5fb7\u8868\u793a\uff0cSHEIN\u65e2\u662f\u4e2d\u56fd\u516c\u53f8\uff0c\u4e5f\u662f\u65b0\u52a0\u5761\u516c\u53f8\uff0c\u66f4\u662f\u7f8e\u56fd\u516c\u53f8\u3002<\/strong><\/p>\n

<\/figure>\n

\u7136\u800c\uff0c\u8fd9\u5e76\u672a\u8ba9\u5176\u987a\u5229\u62ff\u5230\u4e0a\u5e02\u201c\u901a\u884c\u8bc1\u201d\u3002\u00a0\u4e00\u8a00\u4ee5\u853d\u4e4b\uff0cSHEIN\u7684\u897f\u884c\u53d6\u7ecf\u8def\uff0c\u9762\u4e34\u4e5d\u4e5d\u516b\u5341\u4e00\u96be\uff0c\u81f3\u4eca\u4ecd\u672a\u53d6\u5f97\u4e0a\u5e02\u771f\u7ecf\u3002<\/strong>\u800c\u4ece\u7f8e\u56fd\u5230\u82f1\u56fd\uff0c\u4eceIPO\u5230DPO\uff0c\u5176\u4e2d\u53ef\u4ee5\u770b\u51faSHEIN\u7684\u6025\u5207\u3002<\/strong><\/p>\n

\u90a3\u4e48\uff0c\u8fd9\u6b21\u4e3a\u4ec0\u4e48\u662fDPO\uff1fDPO\u548c\u4f20\u7edfIPO\u4e0a\u5e02\u8def\u5f84\u6709\u4f55\u4e0d\u540c\uff0c\u6709\u54ea\u4e9b\u4f18\u52bf\u548c\u5f0a\u7aef\uff1fSHEIN\u9009\u62e9DPO\u53c8\u51fa\u4e8e\u4ec0\u4e48\u8003\u91cf\uff1f\u9009\u62e9DPO\u53c8\u80fd\u5426\u7834\u89e3\u6b64\u524d\u56f0\u6270SHEIN\u5df2\u4e45\u7684\u201c\u8eab\u4efd\u96be\u9898\u201d\uff0c\u5e76\u5b8c\u7f8e\u907f\u5f00\u201c\u4fb5\u6743\u3001\u52b3\u5de5\u3001\u73af\u4fdd\u201d\u7b49\u7f20\u8eab\u7684\u7ea0\u7eb7\uff1f<\/strong><\/p>\n

<\/figure>\n

\u6240\u8c13DPO\uff08Direct Public Offering\uff09\uff0c\u5373\u4e92\u8054\u7f51\u76f4\u63a5\u516c\u5f00\u53d1\u884c\uff0c\u5373\u8bc1\u5238\u7684\u53d1\u884c\u8005\u4e0d\u501f\u52a9\u6216\u4e0d\u901a\u8fc7\u627f\u9500\u5546\u6216\u6295\u8d44\u94f6\u884c\u516c\u53f8\uff0c\u800c\u662f\u76f4\u63a5\u901a\u8fc7\u5728\u4e92\u8054\u7f51\u4e0a\u53d1\u5e03\u4e0a\u5e02\u4fe1\u606f\u3001\u4f20\u9001\u53d1\u884c\u6587\u4ef6\uff0c\u4ece\u800c\u76f4\u63a5\u516c\u5f00\u53d1\u884c\u516c\u53f8\u7684\u80a1\u7968\u3002<\/p>\n

\u5728\u6d41\u7a0b\u4e0a\uff0cDPO\u76f8\u5f53\u4e8eIPO\u7684\u201c\u6781\u901f\u7248\u201d\u2014\u2014\u4e0d\u50cfIPO\uff08Initial Public Offering\uff09\u90a3\u6837\u6709\u7e41\u7410\u7684\u7533\u62a5\u6ce8\u518c\u7a0b\u5e8f\u548c\u4e25\u683c\u7684\u4fe1\u606f\u62ab\u9732\u8981\u6c42\uff0c\u56e0\u6b64\uff0c\u53ef\u4ee5\u7ed5\u5f00\u590d\u6742\u7684\u5ba1\u6838\u6d41\u7a0b\uff1b\u800c\u5728\u8986\u76d6\u8303\u56f4\u4e0a\uff0c\u5176\u76f4\u63a5\u5411\u6563\u6237\u52df\u80a1\u7684\u65b9\u5f0f\uff0c\u8ba9\u5176\u770b\u8d77\u6765\u66f4\u50cf\u4e00\u573a\u201c\u4f17\u7b79\u201d\u3002<\/strong><\/p>\n

DPO\u4e8e1994\u5e74\u6700\u5148\u51fa\u73b0\u5728\u7f8e\u56fd\uff0c\u5f53\u5e74\uff0c\u670928\u5bb6\u5c0f\u4f01\u4e1a\u901a\u8fc7DPO\u53d1\u884c\u80a1\u7968\u4e0a\u5e02\u7b79\u8d44\u3002\u7efc\u5408\u68b3\u7406\uff0cDPO\u4e0a\u5e02\u5bf9\u4f01\u4e1a\u6765\u8bf4\u6709\u4ee5\u4e0b\u51e0\u70b9\u4f18\u52bf\uff1a<\/p>\n

\u9996\u5148\uff0c\u9ad8\u6548\u5feb\u6377\uff0c\u8def\u5f84\u201c\u77ed\u5e73\u5feb\u201d\uff0c\u4e3b\u6253\u4e00\u4e2a\u95ea\u51fb\u8d44\u672c\u5e02\u573a\u3002<\/strong><\/p>\n

\u4f20\u7edf\u7684IPO\u4e0a\u5e02\u6d41\u7a0b\u4e3a\u201c\u5ba1\u8ba1\u3001\u6ce8\u518c\u767b\u8bb0\u3001\u7533\u8bf7\u3001\u5ba1\u6279\u3001\u8def\u6f14\u201d\uff0c\u8017\u8d39\u65f6\u95f4\u957f\uff0c\u800cDPO\u7701\u53bb\u4e86\u4e0e\u627f\u9500\u5546\u534f\u5546\u5b9a\u4ef7\u3001\u8def\u6f14\u5ba3\u4f20\u7b49\u7e41\u7410\u73af\u8282\uff0c\u5927\u5927\u7f29\u77ed\u4e86\u4e0a\u5e02\u5468\u671f\uff0c\u76f4\u63a5\u5728\u7f51\u4e0a\u8fdb\u884c\u606f\u7684\u53d1\u5e03\u4e0e\u53cd\u9988\uff0c\u901a\u8fc7\u7535\u5b50\u90ae\u4ef6\u5411\u6f5c\u5728\u7684\u6295\u8d44\u8005\u201c\u6295\u5e7f\u544a\u201d\uff0c\u5e76\u5728\u7f51\u4e0a\u53d1\u5e03\u62db\u80a1\u4e66\uff0c\u4e00\u6c14\u5475\u6210\u3002<\/p>\n

\u62ff\u8def\u6f14\u73af\u8282\u6765\u8bf4\uff0cDPO\u628aIPO\u9700\u8f97\u8f6c\u591a\u5730\u3001\u4e3a\u5176\u4e24\u5468\u5de6\u53f3\u3001\u4e0e\u6f5c\u5728\u6295\u8d44\u4eba\u5bc6\u5207\u7684\u8def\u6f14\u7206\u6539\u4e3a\u201c\u6295\u8d44\u8005\u65e5\u201d\uff0c\u5373\u91c7\u53d6\u201c\u89c6\u9891\u4f1a\u8bae\u201d\u7684\u5f62\u5f0f\u7ebf\u4e0a\u4f1a\u8c08\u3002<\/p>\n

\u8fd9\u5bf9\u4e8e\u6025\u9700\u8d44\u91d1\u6216\u5e0c\u671b\u5feb\u901f\u6269\u5927\u5e02\u573a\u5f71\u54cd\u529b\u7684\u4f01\u4e1a\u6765\u8bf4\uff0c\u65e0\u7591\u662f\u4e00\u4e2a\u5de8\u5927\u7684\u4f18\u52bf\u2014\u2014\u201c\u4e0d\u7ba1\u4e09\u4e03\u4e8c\u5341\u4e00\uff0c\u5148\u4e0a\u5e02\u4e86\u518d\u8bf4\u201d\u3002<\/strong><\/p>\n

\u5176\u6b21\uff0c\u9650\u5236\u6761\u4ef6\u5c11\uff0c\u76d1\u7ba1\u4e0e\u5ba1\u67e5\u6ca1\u6709IPO\u90a3\u4e48\u4e25\u82db\u3002<\/strong><\/p>\n

\u4f20\u7edfIPO\u53d1\u884c\u4e4b\u524d\uff0c\u8981\u7ecf\u8fc7\u4e25\u683c\u7684\u8d44\u683c\u5ba1\u67e5\uff0c\u8fbe\u5230\u4e0a\u5e02\u6761\u4ef6\u540e\u4f01\u4e1a\u80a1\u7968\u624d\u53ef\u80fd\u53d1\u884c\u4e0a\u5e02\uff0c\u540c\u65f6\uff0cIPO\u53d1\u884c\u7684\u8fc7\u7a0b\u4e2d\u4f1a\u53d7\u5230\u591a\u91cd\u7684\u76d1\u7ba1\u548c\u9650\u5236\uff0c\u7ecf\u7eaa\u516c\u53f8\u5fc5\u987b\u6839\u636e\u7f8e\u56fd\u8bc1\u4ea4\u6613\u534f\u5546\u4f1a\u548cSEC\u7684\u8981\u6c42\u5236\u5b9a\u53d1\u884c\u9500\u552e\u89c4\u5b9a\uff0c\u6574\u4e2a\u53d1\u884c\u8fc7\u7a0b\u88ab\u4e25\u683c\u5730\u63a7\u5236\u3002<\/p>\n

\u4e0eIPO\uff08\u9996\u6b21\u516c\u5f00\u52df\u80a1\uff09\u7684\u4e25\u683c\u8d44\u683c\u5ba1\u67e5\u548c\u76d1\u7ba1\u76f8\u6bd4\uff0cDPO\u5728\u7f8e\u56fd\u8bc1\u76d1\u4f1a\uff08SEC\uff09\u4e0b\u4eab\u6709\u66f4\u591a\u7684\u8c41\u514d\u6761\u6b3e\uff0c<\/strong>\u5982A\u6761\u4f8b\u3001D-504\u6761\u4f8b\u548cSCOR\u7b49\u3002\u8fd9\u4e9b\u8c41\u514d\u6761\u6b3e\u5bf9\u8d22\u52a1\u5ba1\u8ba1\u3001\u6295\u8d44\u8005\u8d28\u91cf\u3001\u80a1\u7968\u5b9a\u4ef7\u548c\u4ea4\u6613\u7684\u8981\u6c42\u76f8\u5bf9\u5bbd\u677e\uff0c\u4e3a\u90e8\u5206\u4f01\u4e1a\u63d0\u4f9b\u4e86\u66f4\u5927\u7684\u64cd\u4f5c\u81ea\u7531\u5ea6\u3002<\/p>\n

\u518d\u6b21\uff0c\u6210\u672c\u76f8\u5bf9\u4f4e\u5ec9\uff0c\u6ca1\u6709\u627f\u9500\u5546\u7684\u4ecb\u5165\u3002<\/strong><\/p>\n

\u4f20\u7edf\u7684IPO\u5f53\u4e2d\uff0c\u4e0a\u5e02\u4f01\u4e1a\u6240\u627f\u62c5\u7684\u8d39\u7528\u4e00\u822c\u5305\u62ec\u56db\u4e2a\u90e8\u5206\uff0c\u5373\u627f\u9500\u8d39\u7528\u3001\u4e13\u4e1a\u987e\u95ee\u8d39\u7528\u3001\u5176\u4ed6\u5fc5\u8981\u652f\u51fa\u3001\u6f5c\u5728\u8d39\u7528\u548c\u540e\u7eed\u5f00\u652f\uff0c\u8fd9\u201c\u56db\u5ea7\u5927\u5c71\u201d\u52a0\u8d77\u6765\uff0c\u751a\u81f3\u4f1a\u5360\u5230\u4f01\u4e1a\u878d\u8d44\u989d\u768440%\u3002<\/p>\n

\u540c\u65f6\uff0c\u6ca1\u6709\u9501\u5b9a\u671f\uff0c\u6d41\u52a8\u6027\u66f4\u5f3a\u3002<\/strong><\/p>\n

\u5728\u4f20\u7edf\u7684IPO\u4e2d\uff0c\u516c\u53f8\u73b0\u6709\u80a1\u4e1c\u4e00\u822c\u4f1a\u540c\u610f\u4e00\u4e2a\u671f\u9650\uff08\u901a\u5e38\u662f\u81eaIPO\u5b9a\u4ef7\u4e4b\u540e\u76846\u4e2a\u6708\uff09\uff0c\u5728\u6b64\u671f\u95f4\u88ab\u9650\u5236\u51fa\u552e\u80a1\u7968\u3002\u800cDPO\u6ca1\u6709\u56fa\u5b9a\u7684\u9501\u5b9a\u671f\uff0c\u73b0\u6709\u80a1\u4e1c\uff08\u5305\u62ec\u5458\u5de5\uff09\u90fd\u53ef\u4ee5\u81ea\u7531\u51fa\u552e\u80a1\u7968\uff0c\u8fd9\u63d0\u9ad8\u4e86\u80a1\u7968\u7684\u6d41\u52a8\u6027\u3002<\/p>\n

\u5982GGV\u7ba1\u7406\u5408\u4f19\u4eba\u7ae5\u58eb\u8c6aHans\u5c31\u66fe\u8bc4\u4ef7\u4ee5DPO\u65b9\u5f0f\u4e0a\u5e02\u7684Slack\uff1a\u201cSlack\u7684\u80a1\u4e1c\u548c\u5458\u5de5\u65e0\u9700\u7b49\u5f856\u4e2a\u6708\u5c31\u80fd\u5356\u51fa\u80a1\u7968\u3002\u4e0e\u6b64\u540c\u65f6\uff0cSlack\u4e0d\u53d1\u884c\u65b0\u80a1\u5219\u4ee3\u8868\u5176\u80a1\u6743\u4e0d\u4f1a\u56e0\u4e3aIPO\u800c\u88ab\u7a00\u91ca\u3002\u201d<\/strong><\/p>\n

\u90a3\u4e48\uff0c\u5bf9SHEIN\u6765\u8bf4\uff0c\u4e3a\u4ec0\u4e48\u9009\u62e9DPO\uff1f<\/p>\n

<\/figure>\n

\u590d\u76d8\u5728\u8fc7\u5f80\u91c7\u53d6DPO\u624b\u6bb5\u4e0a\u5e02\u7684\u4f01\u4e1a\u4e2d\uff0c\u6700\u5177\u4ee3\u8868\u6027\u7684\u83ab\u8fc7\u4e8eSpotify\u3001Slack\u7b49\u72ec\u89d2\u517d\u4f01\u4e1a\u3002\u800c\u8fd9\u4e9b\u516c\u53f8\u7684\u5171\u540c\u70b9\u5c31\u662f\uff0c\u4e0d\u7f3a\u8425\u6536\u80fd\u529b\u4e14\u77e5\u540d\u5ea6\u5e7f\u3001\u4e0d\u7f3a\u53d7\u4f17\uff0c\u4f46\u53e3\u7891\u4e24\u6781\u5206\u5316\u3001\u9762\u4e34\u8bf8\u591a\u8206\u8bba\u4e89\u8bae\uff0c\u5728\u591a\u91cd\u538b\u529b\u4e0b\u9700\u8981\u5feb\u901f\u4e0a\u5e02\uff1a<\/strong><\/p>\n

\u62ffSpotify\u6765\u8bf4\uff0c\u4f5c\u4e3a\u5168\u7403\u6700\u5927\u7684\u97f3\u4e50\u6d41\u5a92\u4f53\u5e73\u53f0\u4e4b\u4e00\uff0cSpotify\u4e8e2018\u5e74\u6210\u529f\u5728\u7ebd\u4ea4\u6240\u901a\u8fc7DPO\u4e0a\u5e02\u3002\u4e0a\u5e02\u524d\uff0cSpotify\u5df2\u7ecf\u62e5\u6709\u4e86\u5e9e\u5927\u7684\u7528\u6237\u7fa4\u4f53\u548c\u7a33\u5b9a\u7684\u6536\u5165\u6765\u6e90\uff0c\u56e0\u6b64\u65e0\u9700\u518d\u901a\u8fc7IPO\u7b79\u96c6\u8d44\u91d1\u3002\u9009\u62e9DPO\u4e0a\u5e02\uff0c\u4f7f\u5f97Spotify\u80fd\u591f\u66f4\u5feb\u5730\u5b9e\u73b0\u4e0a\u5e02\u76ee\u6807\uff0c\u540c\u65f6\u907f\u514d\u4e86\u56e0\u627f\u9500\u5546\u538b\u4ef7\u800c\u5bfc\u81f4\u7684\u5229\u76ca\u635f\u5931\u3002<\/p>\n

\u800c\u4e4b\u6240\u4ee5\u9009\u62e9DPO\uff0c\u4e00\u5927\u539f\u56e0\u5c31\u662f\uff0c\u5728IPO\u7ed5\u4e0d\u5f00\u7684\u5ba1\u67e5\u3001\u80cc\u8c03\u3001\u76d1\u7ba1\u3001\u8206\u8bba\u7b49\u65b9\u9762\uff0c\u9677\u5165\u8bf8\u591a\u4e89\u8bae\u7684Spotify\u5f88\u96be\u8fc7\u5173\uff1a<\/strong><\/p>\n

\u5728\u4e0a\u5e02\u524d\uff0cSpotify\u201c\u8425\u6536\u53ef\u89c2\u4f46\u51c0\u5229\u6da6\u4e3a\u8d1f\u201d\u8425\u6536\u7ed3\u6784\u5c31\u5f15\u8d77\u4e89\u8bae\uff0c\u5de8\u989d\u7684\u97f3\u4e50\u7248\u6743\u6210\u672c\u8ba9Spotify\u4e0d\u80fd\u7a81\u7834\u76c8\u4e8f\u5e73\u8861\u70b9\uff0cBBC\u66fe\u5bf9\u5176\u201c\u4e0d\u76c8\u5229\u201d\u5bfc\u81f4\u7684IPO\u5ef6\u671f\u4e13\u95e8\u8fdb\u884c\u4e86\u62a5\u9053\uff0c\u9898\u76ee\u4e5f\u5f88\u9707\u60ca\u4f53\u2014\u2014\u300a\u4e27\u949f\u4e3aSpotify\u800c\u9e23\u300b\uff1b\u4e14\u5176\u6b64\u524d\u5411TPG\u7b49\u65b9\u501f\u768410\u4ebf\u7f8e\u5143\uff0c\u53c8\u8ba9\u5176\u9677\u5165\u591a\u91cd\u503a\u52a1\u95ee\u9898\u7f20\u8eab\u7a98\u5883\u3002<\/p>\n

\u5982\u679c\u8d70IPO\u6d41\u7a0b\uff0c\u514d\u4e0d\u4e86\u53c8\u8981\u5728\u8def\u6f14\u73af\u8282\u4e00\u756a\u81ea\u8bc1\u3001\u5507\u67aa\u820c\u6218\uff0c\u8017\u65f6\u53c8\u8d39\u529b\u3002<\/strong><\/p>\n

\u800c\u5f53\u65f6\uff0cSpotify\u8fd8\u6025\u7740\u4e0a\u5e02\uff0c\u9996\u5148\u662f\u56e0\u4e3a\u5176\u57282016\u5e74\u7b7e\u4e86\u4e00\u4efd\u503a\u5238\u534f\u8bae\uff0c<\/strong>\u5373\u4ee5\u53ef\u8f6c\u6362\u503a\u5238Convertible Debt\u4eceTPG\u3001Dragoneer\u7b49\u6295\u884c\u52df\u96c6\u4e86\u7ea610\u4ebf\u7f8e\u5143\u3002\u534f\u8bae\u89c4\u5b9a\uff0c\u5982\u679c\u516c\u53f8\u672a\u80fd\u53ca\u65f6\u4e0a\u5e02\uff0c\u8fd9\u4e9b\u503a\u5238\u5c06\u53ef\u4ee5\u8f83\u9ad8\u7684\u6298\u6263\u8f6c\u6362\u4e3a\u80a1\u7968\uff0c20%\u8ba9\u4ef7\u4e14\u53e0\u52a0\u6298\u6263\u548c\u6bcf\u5e745%\u7684\u5229\u606f\u3002<\/p>\n

\u4e00\u8a00\u4ee5\u853d\u4e4b\uff0c\u4e3a\u4e86\u907f\u514d\u9ad8\u6602\u7684\u5229\u606f\u652f\u4ed8\u548c\u80a1\u6743\u7a00\u91ca\u7684\u98ce\u9669\uff0cSpotify\u9700\u8981\u5c3d\u5feb\u5b8c\u6210\u4e0a\u5e02\u8ba1\u5212\u5e76\u5438\u5f15\u8db3\u591f\u7684\u6295\u8d44\u8005\u6765\u652f\u6301\u5176\u80a1\u4ef7\u8868\uff0c\u201c\u77ed\u5e73\u5feb\u201d\u7684DPO\u65e0\u7591\u662f\u6700\u4f73\u9009\u62e9\u3002<\/strong><\/p>\n

\u5386\u53f2\u662f\u4e2a\u5de8\u5927\u7684\u8f6e\u56de\uff0c\u5982\u4eca\u7684SHIEN\u5904\u5883\u548c\u6614\u65e5\u7684Spotify\u60ca\u4eba\u7684\u76f8\u4f3c\uff0c<\/strong>\u6216\u8bb8\uff0c\u6b63\u662f\u540c\u6837\u7684\u5904\u5883\u8ba9SHEIN\u4ece\u4e2d\u6c72\u53d6\u4e86\u7075\u611f\uff0c\u8fd9\u624d\u628a\u76ee\u5149\u6295\u5411DPO\uff1a<\/p>\n

\u9996\u5148\uff0c\u4ece\u9762\u4e34\u76d1\u7ba1\u5ba1\u67e5\u3001\u8206\u8bba\u538b\u529b\u7b49\u201c\u4e5d\u4e5d\u516b\u5341\u4e00\u96be\u201d\u6765\u770b\uff0cSHIEN\u6bd4\u5f53\u5e74\u7684Spotify\u6709\u8fc7\u4e4b\u800c\u65e0\u4e0d\u53ca\u3002<\/strong>\u636eCNBC\u62a5\u9053\uff0cSHEIN\u7533\u8bf7\u5728\u7f8eIPO\u540e\uff0c\u5176\u7acb\u6cd5\u673a\u6784\u52a0\u5f3a\u4e86\u5bf9SHEIN\u7684\u5ba1\u67e5\u3002<\/p>\n

<\/figure>\n

\u4e3a\u6b64\uff0cSHEIN\u4e0d\u65ad\u6a21\u7cca\u81ea\u5df1\u7684\u8eab\u4efd\uff0c\u8bd5\u56fe\u4ee5\u66f4\u201c\u4e16\u754c\u516c\u53f8\u201d\u7684\u59ff\u6001\u6700\u7ec8\u8d62\u5f97\u5f53\u5730\u8ba4\u53ef\u3002<\/strong>2021\u5e74\u5e95\uff0cSHEIN\u5c06\u603b\u90e8\u8fc1\u5f80\u65b0\u52a0\u5761\uff1b\u636e\u4f01\u67e5\u67e5\u663e\u793a\uff0c\u52302022\u5e74\u521d\uff0cSHEIN\u521b\u59cb\u4eba\u8bb8\u4ef0\u5929\u5728\u56fd\u5185\u66fe\u4efb\u804c\u8fc7\u768410\u5bb6\u4f01\u4e1a\uff0c\u67099\u5bb6\u5df2\u6ce8\u9500\u3002\u5728\u5b98\u7f51\u4ecb\u7ecd\u91cc\uff0cSHEIN\u7528\u201c\u5168\u7403\u65f6\u5c1a\u548c\u751f\u6d3b\u65b9\u5f0f\u7535\u5b50\u96f6\u552e\u5546\u201d\u6765\u4ecb\u7ecd\u81ea\u5df1\uff0c\u5e76\u6ca1\u6709\u660e\u786e\u81ea\u5df1\u7684\u56fd\u7c4d\u3002<\/p>\n

\u800c\u5728\u4fb5\u6743\u5c42\u9762\uff0c\u4eceZARA\u3001H&M\u3001UGG\u7b49\u5927\u54c1\u724c\u5230\u5c0f\u4f17\u8bbe\u8ba1\u5e08\uff0c\u90fd\u66fe\u6307\u63a7\u8fc7SHEIN\u4fb5\u6743\u3002\u6839\u636e\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u7684\u8c03\u67e5\uff0c\u8fc7\u53bb\u4e09\u5e74\u4e2d\uff0cSHEIN\u5728\u56fd\u5916\u9762\u4e34\u81f3\u5c11 50 \u8d77\u6d89\u5acc\u7248\u6743\u548c\u5546\u6807\u4fb5\u6743\u7684\u8054\u90a6\u8bc9\u8bbc\u3002<\/strong><\/p>\n

<\/figure>\n

\u73af\u4fdd\u5c42\u9762\uff0cSHEIN\u4e5f\u4e0d\u597d\u8fc7\u3002<\/strong>\u4eca\u5e743\u6708\uff0c\u6cd5\u56fd\u56fd\u6c11\u8bae\u4f1a\u8ba8\u8bba\u901a\u8fc7\u4e86\u4e00\u9879\u65b0\u63d0\u6848\uff0c\u628a\u77db\u5934\u6307\u5411\u201c\u4f1a\u9020\u6210\u73af\u5883\u6c61\u67d3\u201d\u7684\u5feb\u65f6\u5c1a\uff0c\u4e3b\u8981\u63aa\u65bd\u5305\u62ec\u7981\u6b62\u5feb\u65f6\u5c1a\u7eba\u7ec7\u54c1\u3001\u65f6\u88c5\u5e7f\u544a\uff0c\u4ee5\u53ca\u5bf9\u4f4e\u6210\u672c\u5546\u54c1\u5f81\u6536\u73af\u5883\u7a0e\u3002\u5176\u4e2d\uff0cSHEIN\u6210\u4e3a\u88ab\u6cd5\u6848\u7279\u522b\u70b9\u540d\u7684\u5bf9\u8c61\u3002<\/p>\n

<\/figure>\n

OpenSecrets\u7684\u516c\u5e03\u6570\u636e\u663e\u793a\uff0cSHEIN\u57282023\u5e74\u7684\u6e38\u8bf4\u652f\u51fa\u8f83\u4e0a\u5e74\u589e\u52a0\u4e86657%\uff0c\u96c7\u4f63\u7684\u6e38\u8bf4\u4eba\u5458\u4e5f\u75318\u540d\u589e\u52a0\u5230\u4e8614\u540d\uff0c\u663e\u7136\uff0c\u8d39\u5c3d\u53e3\u820c\uff0c\u5374\u5e76\u672a\u5f97\u5230\u60f3\u8981\u7684\u7ed3\u679c\u3002<\/strong><\/p>\n

\u5176\u6b21\uff0cSHEIN\u867d\u7136\u6ca1\u6709Spotify\u90a3\u6837\u767d\u7eb8\u9ed1\u5b57\u7684\u534f\u8bae\u5012\u903c\u4e0a\u5e02\uff0c\u4f46\u4f5c\u4e3a\u4e00\u5bb6\u6210\u7acb\u4e8e2008\u5e74\u7684\u4f01\u4e1a\uff0c\u966aSHEIN\u767d\u624b\u8d77\u5bb6\u7684\u8d44\u672c\u5df2\u7ecf\u88ab\u201c\u5957\u7262\u201d\u5341\u4f59\u5e74\uff0c<\/strong>\u5bf9\u4e8e\u56de\u62a5\u7684\u671f\u5f85\u65e5\u76ca\u589e\u957f\uff0c\u6b63\u56e0\u5982\u6b64\uff0cSHEIN\u4e9f\u9700\u4e0a\u5e02\uff0c\u6ee1\u8db3\u5176\u8d44\u91d1\u6d41\u52a8\u6027\u9700\u6c42\u3002\u4ece\u5176\u8fd9\u4e24\u5e74\u4e0a\u5e02\u7684\u7d27\u8feb\u7a0b\u5ea6\u6765\u770b\uff0c\u6b64\u65f6\u6784\u5efa\u8d44\u672c\u9000\u51fa\u6e20\u9053\u6210\u4e3a\u521a\u9700\uff0c\u4e14\u65e0\u6cd5\u4e00\u62d6\u518d\u62d6\u3002<\/p>\n

\u90a3\u4e48\uff0cDPO\u771f\u7684\u662fSHEIN\u7684\u6700\u4f73\u9009\u62e9\u5417\uff1f\u53c8\u6709\u4ec0\u4e48\u5f0a\u7aef\uff1f<\/p>\n

<\/figure>\n

\u4e8b\u5b9e\u4e0a\uff0c\u6b63\u5982\u201c\u514d\u8d39\u7684\u5f80\u5f80\u662f\u6700\u8d35\u7684\u201d\uff0c\u6709\u65f6\u5019\uff0c\u201c\u6700\u5feb\u7684\u4e5f\u53ef\u80fd\u662f\u6700\u6162\u7684\u201d\u3002DPO\u6a21\u5f0f\u4e0e\u5176\u8bf4\u662f\u4e00\u79cd\u6377\u5f84\uff0c\u4e0d\u5982\u8bf4\u662f\u4e00\u628a\u53cc\u5203\u5251\u3002\u547d\u8fd0\u6240\u9988\u8d60\u7684\u793c\u7269\uff0c\u5f80\u5f80\u6807\u597d\u4e86\u4ef7\u683c\u3002<\/p>\n

\u6b64\u524d\uff0cSpotify\u9009\u62e9DPO\u65f6\uff0c\u5c31\u6709\u4e1a\u5185\u4eba\u58eb\u6307\u51fa\uff0c\u5de8\u5927\u98ce\u9669\u4e0d\u5bb9\u5ffd\u89c6\uff0c\u5982\u627f\u9500\u5546\u8be2\u4ef7\u548c\u5f00\u76d8\u4ef7\u683c\u53d1\u73b0\u673a\u5236\u7684\u7f3a\u5931\uff0c\u53ef\u80fd\u5bfc\u81f4\u5f00\u76d8\u4ea4\u6613\u4ef7\u683c\u201c\u95ea\u5d29\u201d\u7b49\u3002<\/strong><\/p>\n

\u8bda\u5982\u6240\u8a00\uff0c\u76f8\u6bd4\u4f20\u7edfIPO\uff0cDPO\u5b58\u5728\u6d41\u52a8\u6027\u3001\u878d\u8d44\u80fd\u529b\u3001\u4f30\u503c\u4e0d\u786e\u5b9a\u6027\u3001\u4fe1\u606f\u62ab\u9732\u8981\u6c42\u548c\u6295\u8d44\u8005\u57fa\u7840\u7b49\u65b9\u9762\u7684\u4e0d\u8db3\uff0c<\/strong>\u7531\u4e8e\u5e02\u573a\u8ba4\u77e5\u5ea6\u76f8\u5bf9\u8f83\u4f4e\uff0c\u4ea4\u6613\u91cf\u53ef\u80fd\u4e0d\u591f\u6d3b\u8dc3\uff0c\u5bfc\u81f4\u80a1\u4ef7\u6ce2\u52a8\u8f83\u5927\uff1b\u540c\u65f6\uff0c\u878d\u8d44\u80fd\u529b\u53d7\u9650\u2014\u2014DPO\u4e0a\u5e02\u4e0d\u53d1\u884c\u65b0\u80a1\uff0c\u56e0\u6b64\u516c\u53f8\u65e0\u6cd5\u901a\u8fc7\u4e0a\u5e02\u8fc7\u7a0b\u76f4\u63a5\u7b79\u96c6\u8d44\u91d1\u3002\u8fd9\u5bf9\u4e8e\u9700\u8981\u5927\u91cf\u8d44\u91d1\u8fdb\u884c\u6269\u5f20\u6216\u6295\u8d44\u7684\u516c\u53f8\u6765\u8bf4\u53ef\u80fd\u662f\u4e00\u4e2a\u9650\u5236\u3002<\/p>\n

\u76f8\u6bd4\u201c\u96be\u800c\u6b63\u786e\u201d\u7684IPO\u4f20\u7edf\u8def\u5f84\uff0c\u4ece\u957f\u8fdc\u6765\u770b\uff0cDPO\u6216\u8bb8\u5e76\u4f1a\u9650\u5236\u4f01\u4e1a\u8fdb\u4e00\u6b65\u53d1\u5c55\u3002<\/strong>\u4e0d\u8fc7\uff0c\u4ece\u628a\u603b\u90e8\u8fc1\u5f80\u65b0\u52a0\u5761\uff0c\u5230\u5982\u4eca\u88ab\u4f20\u51faDPO\uff0cSHEIN\u4e00\u76f4\u9009\u62e9\u4e86\u66f4\u4e3a\u6fc0\u8fdb\u7684\u90a3\u6761\u8def\u3002<\/p>\n

\u4ee5\u957f\u671f\u4e3b\u4e49\u7684\u89c6\u89d2\u6765\u770b\uff0c\u6bcf\u4e00\u6b65\u90fd\u4e0d\u767d\u8d70\uff0c\u800c\u6bcf\u5c11\u8d70\u7684\u4e00\u6b65\u8def\uff0c\u65e5\u540e\u90fd\u9700\u8981\u4ece\u5176\u4ed6\u65b9\u9762\u8865\u4e0a\uff1a\u6216\u8bb8\u5bf9\u6b64\u524d\u72c2\u98d9\u7a81\u8fdb\u7684SHEIN\u6765\u8bf4\uff0c\u6b64\u523b\u7684\u5f53\u52a1\u4e4b\u6025\u662f\u6162\u4e0b\u6765\uff0c\u6743\u8861\u5229\u5f0a\u518d\u4e0a\u5e02\u3002<\/strong><\/p>\n

<\/figure>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

SHEIN\u518d\u6362\u4e0a\u5e02\u8d5b\u9053<\/p>\n","protected":false},"author":53602,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194],"tags":[],"special":[],"class_list":["post-123375","post","type-post","status-publish","format-standard","hentry","category-model","entry"],"views":38541,"_links":{"self":[{"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/posts\/123375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/users\/53602"}],"replies":[{"embeddable":true,"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/comments?post=123375"}],"version-history":[{"count":0,"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/posts\/123375\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/media?parent=123375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/categories?post=123375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/tags?post=123375"},{"taxonomy":"special","embeddable":true,"href":"https:\/\/www.growthhk.cn\/wp-json\/wp\/v2\/special?post=123375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}