{"id":589172,"date":"2025-08-22T06:35:41","date_gmt":"2025-08-22T13:35:41","guid":{"rendered":"https:\/\/nai500.com\/blog\/2025\/08\/sec\/"},"modified":"2025-08-22T06:35:41","modified_gmt":"2025-08-22T13:35:41","slug":"sec","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2025\/08\/sec\/","title":{"rendered":"SEC\u6536\u7d27\u5bf9\u4e2d\u56fd\u4e0a\u5e02\u516c\u53f8\u7684\u76d1\u7ba1\uff0c\u5317\u4eac\u76f8\u5e94\u8c03\u6574"},"content":{"rendered":"<p>\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\u6b63\u4ece\u4e2a\u6848\u5ba1\u67e5\u8f6c\u5411\u5bf9\u4e2d\u56fd\u53d1\u884c\u4eba\u8fdb\u884c\u7ed3\u6784\u6027\u4fee\u590d\uff0c\u5f3a\u5316\u5bf9\u79bb\u5cb8\u5b9e\u4f53\u3001\u5ba1\u8ba1\u548c\u98ce\u9669\u56e0\u7d20\u7684\u62ab\u9732\u4e0e\u76d1\u7763\u3002\u5317\u4eac\u5df2\u4ee5\u5907\u6848\u5236\u56de\u5e94\uff0c\u5e76\u5efa\u7acb\u66f4\u4e25\u683c\u7684\u6570\u636e\u5b89\u5168\u6846\u67b6\u3002\u901a\u5f80\u534e\u5c14\u8857\u7684\u9053\u8def\u4ecd\u7136\u5f00\u653e\uff0c\u4f46\u66f4\u7a84\u3001\u66f4\u6162\u3001\u6210\u672c\u66f4\u9ad8\u3002\u8d22\u65b0\u7684\u5173\u4e8e\u5373\u5c06\u4fee\u6539\u5916\u56fd\u79c1\u8425\u53d1\u884c\u4eba\u89c4\u5219\u7684\u62a5\u9053\uff0c\u53ca\u65f6\u8868\u660e\u53cc\u65b9\u90fd\u5728\u5f3a\u5316\u81ea\u5df1\u7684\u5e94\u5bf9\u65b9\u6848\u3002<\/p>\n<h3>SEC\u5bf9\u4e2d\u56fdVIE\u548c\u7f8e\u56fd\u4e0a\u5e02\u7684\u5ba1\u67e5<\/h3>\n<p>\u534e\u76db\u987f\u7684\u5173\u6ce8\u70b9\u5df2\u96c6\u4e2d\u5728\u53ef\u53d8\u5229\u76ca\u5b9e\u4f53\uff08VIE\uff09\u2014\u2014\u8fd9\u79cd\u5408\u540c\u5b89\u6392\u5141\u8bb8\u53d7\u9650\u884c\u4e1a\u7684\u516c\u53f8\u52df\u96c6\u5916\u8d44\u3002\u6839\u636e\u8d22\u65b0\u548c\u76d1\u7ba1\u673a\u6784\u58f0\u660e\uff0c\u81ea2021\u5e74\u4ee5\u6765\uff0cSEC\u5de5\u4f5c\u4eba\u5458\u8981\u6c42\u66f4\u4e3a\u660e\u6670\u5730\u63cf\u8ff0VIE\u7684\u8fd0\u4f5c\u65b9\u5f0f\u3001\u6295\u8d44\u8005\u7d22\u8d54\u7684\u754c\u9650\u4ee5\u53ca\u4e2d\u56fd\u53ef\u80fd\u5e72\u9884\u7684\u98ce\u9669\u3002\u8be5\u673a\u6784\u6b63\u5728\u6743\u8861\u66f4\u65b0\u5916\u56fd\u79c1\u8425\u53d1\u884c\u4eba\u6846\u67b6\u7684\u53ef\u80fd\u6027\uff0c\u4ee5\u7f29\u5c0f\u4e0e\u7f8e\u56fd\u56fd\u5185\u62ab\u9732\u7684\u5dee\u8ddd\u2014\u2014\u5982\u63d0\u4f9b\u66f4\u7ec6\u5316\u7684\u5173\u8054\u65b9\u6570\u636e\u3001\u66f4\u7d27\u7684\u65f6\u95f4\u8868\u548c\u66f4\u6e05\u695a\u7684\u5b9e\u9645\u53d7\u76ca\u6240\u6709\u6743\u4fe1\u606f\u3002\u9884\u8ba1\u5728\u6570\u636e\u6cbb\u7406\u3001\u5883\u5185\u73b0\u91d1\u6d41\u4ee5\u53ca\u8463\u4e8b\u4f1a\u5bf9\u5185\u5730\u4e1a\u52a1\u63a7\u5236\u7a0b\u5ea6\u65b9\u9762\uff0c\u4f1a\u770b\u5230\u66f4\u6709\u9488\u5bf9\u6027\u7684\u95ee\u8be2\u51fd\u3002\u8fd9\u4e0d\u662f\u7981\u4ee4\uff0c\u800c\u662f\u5c06\u62ab\u9732\u4f5c\u4e3a\u7ea6\u675f\uff1a\u628a\u4e0d\u900f\u660e\u6027\u660e\u793a\u51fa\u6765\uff0c\u8ba9\u5e02\u573a\u4e3a\u6b64\u5b9a\u4ef7\u3002<\/p>\n<h3>HFCAA\u3001PCAOB\u68c0\u67e5\u4e0e\u9000\u5e02\u98ce\u9669<\/h3>\n<p>\u300a\u63a7\u80a1\u5916\u56fd\u516c\u53f8\u95ee\u8d23\u6cd5\u300b\uff08HFCAA\uff09\u4ecd\u662f\u7559\u4f5c\u5907\u7528\u7684\u7b28\u91cd\u5de5\u5177\u3002\u81ea\u4ece\u7f8e\u56fd\u5ba1\u8ba1\u68c0\u67e5\u4eba\u5458\u57282022\u5e74\u548c2023\u5e74\u83b7\u5f97\u73b0\u573a\u8bbf\u95ee\u6743\u540e\uff0c\u7acb\u5373\u7684\u9000\u5e02\u5012\u8ba1\u65f6\u505c\u6b62\u3002\u4f46\u662f\u8be5\u6cd5\u5f8b\u2014\u2014\u56fd\u4f1a\u5c06\u8fde\u7eed\u4e24\u5e74\u65e0\u6cd5\u68c0\u67e5\u4f5c\u4e3a\u89e6\u53d1\u6761\u4ef6\u2014\u2014\u8981\u6c42\u6bcf\u5e74\u4f5c\u51fa\u5224\u65ad\u3002\u5982\u679cPublic Company Accounting Oversight Board\u8ba4\u4e3a\u8bbf\u95ee\u4ecd\u7136\u4e0d\u8db3\uff0c\u5012\u8ba1\u65f6\u5c06\u91cd\u65b0\u542f\u52a8\u3002\u5bf9\u53d1\u884c\u4eba\u548c\u6295\u8d44\u8005\u800c\u8a00\uff0c\u8fd9\u8f6c\u5316\u4e3a\u4e00\u79cd\u957f\u671f\u5b58\u5728\u7684\u5c3e\u90e8\u98ce\u9669\u3002\u5b83\u4e5f\u4f1a\u7ed9\u627f\u62c5\u4e2d\u56fd\u5ba1\u8ba1\u4efb\u52a1\u7684\u5ba1\u8ba1\u5e08\u5e26\u6765\u538b\u529b\uff0c\u5fc5\u987b\u8bc1\u660e\u5de5\u4f5c\u5e95\u7a3f\u5e72\u51c0\u4e14\u4fdd\u6301\u72ec\u7acb\u6027\u3002\u6700\u597d\u7684\u60c5\u5f62\u662f\u5e73\u5e38\u5316\uff1a\u5728\u9999\u6e2f\u8fdb\u884c\u5e38\u89c4\u68c0\u67e5\u5e76\u83b7\u5f97\u5168\u9762\u6587\u4ef6\u8bbf\u95ee\uff0c\u5305\u62ec\u5bf9\u5185\u5730\u7ec4\u4ef6\u5ba1\u8ba1\u5e08\u7684\u6587\u4ef6\u8bbf\u95ee\u3002\u6700\u574f\u7684\u60c5\u5f62\u2014\u2014\u963b\u65ad\u518d\u6b21\u53d1\u751f\u2014\u2014\u5c06\u91cd\u71c3\u5411\u9999\u6e2f\u7684\u88ab\u52a8\u8fc1\u79fb\uff0c\u538b\u7f29\u6d41\u52a8\u6027\u5e76\u6269\u5927\u5404\u884c\u4e1a\u7684\u4e2d\u56fd\u98ce\u9669\u6ea2\u4ef7\u3002<\/p>\n<h3>CSRC\u5907\u6848\u5236\u6539\u53d8\u4e86\u5317\u4eac\u7684\u628a\u5173\u65b9\u5f0f<\/h3>\n<p>\u5728\u56fd\u5185\uff0c\u4e2d\u56fd\u8bc1\u5238\u76d1\u7763\u7ba1\u7406\u59d4\u5458\u4f1a\u57282023\u5e74\u63a8\u51fa\u4e86\u6d77\u5916\u53d1\u884c\u5907\u6848\u5236\uff0c\u53d6\u4ee3\u4e86\u4e0d\u900f\u660e\u7684\u4e2a\u6848\u5ba1\u6279\u3002\u65b0\u534e\u793e\u5c06\u5176\u8868\u8ff0\u4e3a\u52a0\u5f3a\u5bf9\u6d77\u5916\u4e0a\u5e02\u516c\u53f8\u7684\u76d1\u7763\u4ee5\u4fdd\u62a4\u6295\u8d44\u8005\u5e76\u7ef4\u62a4\u79e9\u5e8f\u3002\u5b9e\u9645\u4e0a\uff0c\u5907\u6848\u8981\u6c42\u5883\u5185\u516c\u53f8\u5728\u8fdb\u519b\u6d77\u5916\u5e02\u573a\u524d\u68b3\u7406\u5176\u6240\u6709\u6743\u94fe\u3001\u5408\u540c\u63a7\u5236\u4ee5\u53ca\u5bf9\u884c\u4e1a\u548c\u7f51\u7edc\u5b89\u5168\u89c4\u5219\u7684\u5408\u89c4\u60c5\u51b5\u3002\u8bc1\u76d1\u4f1a\u7684\u516c\u5f00\u6307\u5357\u9f13\u52b1\u90a3\u4e9b\u670d\u52a1\u5b9e\u4f53\u7ecf\u6d4e\u548c\u7b26\u5408\u6218\u7565\u76ee\u6807\u7684\u4e0a\u5e02\uff0c\u5e76\u8981\u6c42\u94f6\u884c\u548c\u5f8b\u5e08\u626e\u6f14\u628a\u5173\u4eba\u89d2\u8272\u3002\u5bf9\u53d1\u884c\u4eba\u800c\u8a00\uff0c\u65b0\u5236\u5ea6\u53ef\u9884\u6d4b\u4f46\u8981\u6c42\u4e25\u683c\u3002\u5b83\u5c06\u6d77\u5916\u878d\u8d44\u4e0e\u56fd\u5185\u653f\u7b56\u4e00\u81f4\u6027\u6302\u94a9\u3002\u5bf9\u6295\u8d44\u8005\u800c\u8a00\uff0c\u5b83\u51cf\u5c11\u4e86\u7a81\u53d1\u6027\u7981\u4ee4\u7684\u53ef\u80fd\uff0c\u4f46\u589e\u52a0\u4e86\u67d0\u4e9b\u6a21\u5f0f\uff08\u4ee52021\u5e74\u6559\u80b2\u5e73\u53f0\u4e3a\u8b66\u793a\uff09\u7684\u65e9\u671f\u7b5b\u9664\u6982\u7387\u3002<\/p>\n<h3>\u6570\u636e\u5b89\u5168\u3001CAC\u5ba1\u67e5\u4e0e\u8de8\u5883\u5ba1\u8ba1<\/h3>\n<p>\u53e6\u4e00\u4e2a\u74f6\u9888\u662f\u6570\u636e\u3002\u6570\u636e\u5b89\u5168\u6cd5\u548c\u4e2a\u4eba\u4fe1\u606f\u4fdd\u62a4\u6cd5\u786e\u7acb\u4e86\u5bf9\u8de8\u5883\u6570\u636e\u6d41\u7684\u56fd\u5bb6\u5b89\u5168\u5ba1\u67e5\u3002\u7f51\u4fe1\u529e\u7684\u7f51\u7edc\u5b89\u5168\u5ba1\u67e5\u673a\u5236\u53ef\u4ee5\u6682\u505c\u6216\u91cd\u5851\u6570\u636e\u5bc6\u96c6\u578b\u5e73\u53f0\u7684\u53d1\u884c\u3002\u540c\u65f6\uff0c2022\u5e74\u9488\u5bf9\u6d77\u5916\u53d1\u884c\u7684\u6d89\u5bc6\u4e0e\u6863\u6848\u89c4\u5219\u660e\u786e\u4e86\u542b\u654f\u611f\u4fe1\u606f\u7684\u5ba1\u8ba1\u5de5\u4f5c\u5e95\u7a3f\u5982\u4f55\u51fa\u5883\u3002\u5b98\u65b9\u6587\u4ef6\u5f3a\u8c03\u8bc1\u76d1\u4f1a\u3001\u8d22\u653f\u90e8\u4e0e\u56fd\u5bb6\u4fdd\u5bc6\u90e8\u95e8\u4e4b\u95f4\u7684\u534f\u8c03\uff0c\u4ee5\u4fbf\u5408\u6cd5\u5730\u4e0e\u5916\u56fd\u76d1\u7ba1\u673a\u6784\u5171\u4eab\u4fe1\u606f\u3002\u8fd9\u4e5f\u662fPCAOB\u5f53\u524d\u4f9d\u8d56\u7684\u901a\u9053\u3002\u5e73\u8861\u4ecd\u7136\u8106\u5f31\u3002\u4fdd\u9669\u3001\u7269\u6d41\u548c\u5065\u5eb7\u79d1\u6280\u516c\u53f8\u5fc5\u987b\u8bbe\u8ba1\u6570\u636e\u6700\u5c0f\u5316\u3001\u672c\u5730\u5316\u548c\u540c\u610f\u673a\u5236\uff0c\u65e2\u80fd\u6ee1\u8db3\u7f51\u4fe1\u529e\uff0c\u53c8\u80fd\u4e3a\u5ba1\u8ba1\u5e08\u63d0\u4f9b\u8db3\u591f\u8bc1\u636e\u3002\u65e0\u6cd5\u8bc1\u660e\u8be5\u8def\u5f84\u7684\u53d1\u884c\u4eba\u5c06\u96be\u4ee5\u540c\u65f6\u901a\u8fc7\u534e\u76db\u987f\u6216\u5317\u4eac\u7684\u5ba1\u67e5\u3002<\/p>\n<h3>\u4e94\u5e74\u89c4\u5212\u903b\u8f91\u4e0e\u56fd\u4f01\u6539\u9769\u5f15\u5bfc\u65b9\u5411<\/h3>\n<p>\u653f\u7b56\u80cc\u666f\u5f88\u91cd\u8981\u3002\u7b2c\u5341\u56db\u4e2a\u4e94\u5e74\u89c4\u5212\u5f3a\u8c03\u6df1\u5316\u8d44\u672c\u5e02\u573a\u3001\u53cc\u5faa\u73af\u548c\u5728\u6838\u5fc3\u6280\u672f\u4e0a\u7684\u81ea\u7acb\u81ea\u5f3a\uff0c\u540c\u65f6\u9f13\u52b1\u4f01\u4e1a\u5728\u5b89\u5168\u6761\u4ef6\u4e0b\u5229\u7528\u56fd\u5185\u548c\u56fd\u9645\u5e02\u573a\u3002\u8fd9\u5e26\u6765\u4e24\u4e2a\u5b9e\u9645\u540e\u679c\u3002\u6218\u7565\u6276\u6301\u7684\u884c\u4e1a\u2014\u2014\u5148\u8fdb\u5236\u9020\u3001\u7eff\u8272\u80fd\u6e90\u96f6\u90e8\u4ef6\u3001\u5de5\u4e1a\u8f6f\u4ef6\u2014\u2014\u5728\u5f3a\u5316\u5bf9\u6838\u5fc3\u77e5\u8bc6\u4ea7\u6743\u548c\u6570\u636e\u7684\u63a7\u5236\u540e\uff0c\u4ecd\u4fdd\u6709\u6d77\u5916\u4e0a\u5e02\u7684\u653f\u7b56\u7a7a\u95f4\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u4e92\u8054\u7f51\u5e73\u53f0\u548c\u654f\u611f\u6570\u636e\u5904\u7406\u8005\u9762\u4e34\u66f4\u9ad8\u95e8\u69db\u3002\u5bf9\u56fd\u6709\u4f01\u4e1a\u800c\u8a00\uff0c\u6301\u7eed\u7684\u6539\u9769\u5f3a\u8c03\u56de\u62a5\u3001\u63a7\u5236\u548c\u56fd\u5bb6\u5b89\u5168\u3002\u8bb8\u591a\u4e2d\u592e\u56fd\u4f01\u6b63\u6574\u5408\u5e76\u4f18\u5316A\u80a1\u4e0e\u9999\u6e2f\u4e0a\u5e02\uff0c\u800c\u4e0d\u662f\u5bfb\u6c42\u7f8e\u56fd\u5e02\u573a\u66dd\u5149\u3002\u5b83\u4eec\u7684\u5883\u5916\u878d\u8d44\u8d8a\u6765\u8d8a\u901a\u8fc7\u503a\u5238\u548c\u94f6\u56e2\u8d37\u6b3e\u5b8c\u6210\u3002\u6c11\u8425\u4f01\u4e1a\u4ecd\u7136\u5c06\u7f8e\u56fd\u80a1\u7968\u89c6\u4e3a\u4f30\u503c\u548c\u7814\u7a76\u6df1\u5ea6\u7684\u91cd\u8981\u6765\u6e90\uff0c\u4f46\u73b0\u5728\u5fc5\u987b\u627f\u62c5\u66f4\u591a\u5408\u89c4\u8d1f\u62c5\u5e76\u9762\u5bf9\u66f4\u660e\u786e\u7684\u7ea2\u7ebf\u3002<\/p>\n<h3>\u5ba1\u8ba1\u5e08\u3001\u9999\u6e2f\u5bf9\u51b2\u4e0e\u8d44\u672c\u7ed3\u6784\u9009\u62e9<\/h3>\n<p>\u53d1\u884c\u4eba\u6b63\u5728\u8fdb\u884c\u6218\u672f\u6027\u8c03\u6574\u3002\u4e00\u6ce2\u4e2d\u56fd\u516c\u53f8\u5df2\u7ecf\u8f6c\u5411\u90a3\u4e9b\u5176\u5de5\u4f5c\u53ef\u4ee5\u88abPCAOB\u68c0\u67e5\u7684\u5ba1\u8ba1\u673a\u6784\uff0c\u901a\u5e38\u5c06\u5185\u5730\u7ec4\u4ef6\u5de5\u4f5c\u5728\u9999\u6e2f\u5173\u8054\u673a\u6784\u4e0b\u5408\u5e76\u5904\u7406\u3002\u8bb8\u591aADR\u5df2\u5728\u9999\u6e2f\u53d6\u5f97\u53cc\u4e3b\u8981\u6216\u6b21\u7ea7\u4e0a\u5e02\uff0c\u4f5c\u4e3a\u5bf9\u76d1\u7ba1\u51b2\u51fb\u7684\u4fdd\u9669\u3002\u9999\u6e2f\u7684\u6539\u9769\uff0c\u5305\u62ec\u52a0\u6743\u6295\u7968\u6743\u548c\u65e0\u8425\u6536\u751f\u7269\u79d1\u6280\u89c4\u5219\uff0c\u4e3a\u6210\u957f\u578b\u516c\u53f8\u63d0\u4f9b\u4e86\u53ef\u884c\u7684\u843d\u811a\u5730\uff0c\u5c3d\u7ba1\u6d41\u52a8\u6027\u548c\u8986\u76d6\u5ea6\u4ecd\u843d\u540e\u4e8e\u7f8e\u56fd\u5e02\u573a\u3002\u8d44\u672c\u7ed3\u6784\u4e5f\u5728\u53d8\u5316\u3002\u91c7\u7528VIE\u7684\u516c\u53f8\u6b63\u5728\u7b80\u5316\u80a1\u6743\u7ed3\u6784\u548c\u8d44\u91d1\u6c60\u5b89\u6392\u3002IPO\u524d\u7684\u878d\u8d44\u56de\u5408\u5305\u62ec\u5bf9\u76d1\u7ba1\u5907\u6848\u548c\u6570\u636e\u63a7\u5236\u7684\u5951\u7ea6\u3002\u8463\u4e8b\u4f1a\u6b63\u5728\u589e\u52a0\u5ba1\u8ba1\u4e0e\u98ce\u9669\u65b9\u9762\u7684\u4e13\u4e1a\u4eba\u58eb\u3002\u4ee3\u4ef7\u663e\u800c\u6613\u89c1\uff1a\u4e0a\u5e02\u65f6\u95f4\u66f4\u957f\u3001\u6cd5\u5f8b\u4e0e\u5ba1\u8ba1\u8d39\u7528\u66f4\u9ad8\uff0c\u5e76\u76f8\u5bf9\u4e8e\u4ee5\u7f8e\u56fd\u4e3a\u4e2d\u5fc3\u7684\u540c\u884c\u6301\u7eed\u5b58\u5728\u4f30\u503c\u6298\u6263\u3002<\/p>\n<h3>\u884c\u4e1a\u5730\u56fe\uff1a\u8c01\u8fd8\u80fd\u53bb\u534e\u5c14\u8857<\/h3>\n<p>\u901a\u9053\u5e76\u672a\u5173\u95ed\uff0c\u53ea\u662f\u91cd\u5851\u3002\u786c\u4ef6\u5bc6\u96c6\u578b\u516c\u53f8\u2014\u2014\u7535\u52a8\u6c7d\u8f66\u4f9b\u5e94\u94fe\u3001\u7535\u529b\u8bbe\u5907\u3001\u5de5\u4e1a\u81ea\u52a8\u5316\u2014\u2014\u6570\u636e\u98ce\u9669\u8f83\u4f4e\u3001\u73b0\u91d1\u6d41\u66f4\u6e05\u6670\uff1b\u53ea\u8981\u5c55\u793a\u51fa\u53e3\u89c4\u6a21\u548c\u56fd\u5185\u5408\u89c4\uff0c\u4ecd\u5177\u53ef\u884c\u6027\u3002\u751f\u7269\u79d1\u6280\u662f\u4e00\u4e2a\u6446\u52a8\u6848\u4f8b\uff1a\u65e0\u8425\u6536\u6a21\u5f0f\u5728\u8bd5\u9a8c\u6570\u636e\u5b8c\u6574\u6027\u548c\u6301\u7eed\u7ecf\u8425\u98ce\u9669\u65b9\u9762\u5c06\u9762\u4e34\u66f4\u4e25\u683c\u7684SEC\u8d28\u8be2\uff0c\u4f46\u624e\u5b9e\u7684\u79d1\u5b66\u57fa\u7840\u548c\u7f8e\u56fd\u4e34\u5e8a\u5e03\u5c40\u53ef\u4ee5\u62b5\u6d88\u8fd9\u4e9b\u95ee\u9898\u3002\u8de8\u5883SaaS\u548c\u6d88\u8d39\u4e92\u8054\u7f51\u516c\u53f8\u5fc5\u987b\u8bc1\u660e\u5176\u6570\u636e\u67b6\u6784\u662f\u73af\u9694\u7684\uff0c\u5e76\u4e14VIE\u62ab\u9732\u6e05\u6670\u3002\u6559\u80b2\u548c\u5728\u7ebf\u91d1\u878d\u4ecd\u7136\u653f\u6cbb\u654f\u611f\u3002\u5bf9\u6240\u6709\u516c\u53f8\u800c\u8a00\uff0c\u73b0\u5b9e\u7684\u6295\u8d44\u8005\u5173\u7cfb\u73b0\u5728\u610f\u5473\u7740\u8981\u63d0\u524d\u7528\u7b80\u5355\u660e\u4e86\u7684\u8bed\u8a00\u56de\u5e94HFCAA\u3001\u7f51\u4fe1\u529e\u4e0e\u8bc1\u76d1\u4f1a\u5907\u6848\u95ee\u9898\uff0c\u540c\u65f6\u5728\u4e2d\u6587\u62ab\u9732\u4e2d\u4e0e\u5317\u4eac\u7684\u4ea7\u4e1a\u653f\u7b56\u53d9\u4e8b\u4fdd\u6301\u4e00\u81f4\u3002<\/p>\n<h3>\u4f30\u503c\u3001\u6d41\u52a8\u6027\u4e0e\u673a\u6784\u51b3\u7b56<\/h3>\n<p>\u5bf9\u5168\u7403\u57fa\u91d1\u800c\u8a00\uff0c\u6cd5\u6cbb\u5dee\u8ddd\u6b63\u5728\u88ab\u8ba1\u4ef7\u3002\u62ab\u9732\u8d1f\u62c5\u4e0e\u76d1\u7ba1\u534f\u8c03\u98ce\u9669\u6269\u5927\u4e86\u4e2d\u56fd\u6298\u4ef7\uff0c\u4f46\u4e5f\u7b5b\u9009\u51fa\u4f18\u52a3\u3002\u90a3\u4e9b\u80fd\u540c\u65f6\u7a7f\u8fc7\u4e24\u9053\u9488\u773c\u7684\u516c\u53f8\u2014\u2014\u5ba1\u8ba1\u7a33\u5065\u3001VIE\u900f\u660e\u3001\u6570\u636e\u5b9e\u8df5\u6e05\u6d01\u5e76\u5b8c\u6210\u8bc1\u76d1\u4f1a\u5907\u6848\u2014\u2014\u76f8\u5bf9\u4e8e\u505a\u4e0d\u5230\u7684\u540c\u884c\u5c06\u83b7\u5f97\u6ea2\u4ef7\u3002\u6d41\u52a8\u6027\u8003\u91cf\u652f\u6301\u53cc\u91cd\u4e0a\u5e02\u4ee5\u4fdd\u6301\u6307\u6570\u7eb3\u5165\u4e0e\u4ea4\u6613\u6df1\u5ea6\u3002\u7f8e\u56fd\u6295\u8d44\u8005\u5c06\u7ee7\u7eed\u4e3a\u4e2d\u56fd\u653f\u7b56\u98ce\u9669\u8981\u6c42\u66f4\u9ad8\u56de\u62a5\uff1b\u4e2d\u56fd\u53d1\u884c\u4eba\u5c06\u5bfb\u6c42\u901a\u8fc7\u6539\u5584\u6cbb\u7406\u548c\u53ef\u9884\u671f\u6027\u6765\u964d\u4f4e\u8d44\u672c\u6210\u672c\uff0c\u800c\u4e0d\u662f\u4e89\u53d6\u4e0d\u592a\u53ef\u80fd\u83b7\u5f97\u7684\u8c41\u514d\u3002\u56de\u6d41\u9999\u6e2f\u7684\u8d8b\u52bf\u4f1a\u6301\u7eed\uff0c\u4f46\u5bf9\u4e8e\u91cd\u89c6\u5206\u6790\u5e08\u8986\u76d6\u548c\u540c\u884c\u53ef\u6bd4\u6027\u7684\u7279\u5b9a\u884c\u4e1a\uff0c\u7f8e\u56fd\u4ecd\u5177\u5438\u5f15\u529b\u3002<\/p>\n<h3>\u63a5\u4e0b\u6765\u5e94\u5173\u6ce8\u7684SEC\u4e0e\u5317\u4eac\u4fe1\u53f7<\/h3>\n<p>\u672a\u6765\u51e0\u4e2a\u5b63\u5ea6\u6709\u4e24\u4e2a\u4fe1\u53f7\u503c\u5f97\u5173\u6ce8\u3002\u7b2c\u4e00\uff0cSEC\u662f\u5426\u6700\u7ec8\u786e\u5b9a\u66f4\u65b0\u5916\u56fd\u79c1\u8425\u53d1\u884c\u4eba\u8981\u6c42\uff0c\u7f29\u5c0f\u62ab\u9732\u5dee\u8ddd\u5e76\u5c06\u5f53\u524d\u7684\u4e8b\u5b9e\u4e0a\u7684\u4e2d\u56fd\u98ce\u9669\u6e05\u5355\u5165\u6cd5\u3002\u90a3\u5c06\u628a\u4eca\u5929\u7684\u505a\u6cd5\u9501\u5b9a\u5e76\u51cf\u5c11\u610f\u5916\u3002\u7b2c\u4e8c\uff0c\u4e2d\u56fd\u5f53\u5c40\u662f\u5426\u8fdb\u4e00\u6b65\u7b80\u5316\u4f8b\u884c\u4e1a\u52a1\u7684\u8de8\u5883\u6570\u636e\u5ba1\u6279\u5e76\u660e\u786e\u5ba1\u8ba1\u5e95\u7a3f\u7684\u51fa\u5883\u8def\u5f84\u3002\u8bc1\u76d1\u4f1a\u5728\u5907\u6848\u5236\u4e0b\u7684\u5904\u7406\u901f\u5ea6\uff0c\u4ee5\u53caPCAOB\u4e0b\u4e00\u6b21\u68c0\u67e5\u7684\u8bfb\u51fa\uff0c\u5c06\u662f\u9886\u5148\u6307\u6807\u3002\u7a33\u5b9a\u7684\u68c0\u67e5\u7ed3\u679c\u4e0e\u53ef\u9884\u6d4b\u7684\u5907\u6848\u5c06\u4e3a\u5408\u9002\u7684\u5019\u9009\u8005\u4fdd\u6301\u901a\u5f80\u534e\u5c14\u8857\u7684\u901a\u9053\u3002\u4efb\u4f55\u4e00\u65b9\u7684\u5931\u5e8f\u90fd\u5c06\u5f15\u53d1\u53e6\u4e00\u8f6e\u5411\u9999\u6e2f\u7684\u8fc1\u79fb\uff0c\u5e76\u5728\u5168\u7403\u7ec4\u5408\u4e2d\u6269\u5927\u5bf9\u4e2d\u56fd\u98ce\u9669\u7684\u6298\u4ef7\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u7f8e\u56fd\u8bc1\u76d1\u4f1a\u52a0\u5f3a\u5bf9\u4e2d\u56fd\u516c\u53f8\u8d74\u7f8e\u4e0a\u5e02\u7684\u76d1\u7ba1\uff0c\u4fc3\u4f7f\u5317\u4eac\u4f5c\u51fa\u56de\u5e94\uff1b\u9884\u8ba1\u5916\u56fd\u79c1\u4eba\u53d1\u884c\u4eba\u89c4\u5219\u5c06\u8c03\u6574\u3001\u5bf9VIE\u7ed3\u6784\u7684\u5ba1\u67e5\u52a0\u5267\u3001\u6570\u636e\u5b89\u5168\u63aa\u65bd\u8fdb\u4e00\u6b65\u6536\u7d27\u2014\u2014\u53cc\u65b9\u5c06\u76f8\u4e92\u8c03\u6574\u5e94\u5bf9\u7b56\u7565\u3002<\/p>\n","protected":false},"author":49,"featured_media":587496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[427],"tags":[2387,820,1121],"class_list":["post-589172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hans","tag-ai-sch","tag-820","tag-1121"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/589172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=589172"}],"version-history":[{"count":0,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/589172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media\/587496"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=589172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=589172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=589172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}