{"id":221736,"date":"2018-05-11T13:47:39","date_gmt":"2018-05-11T20:47:39","guid":{"rendered":"https:\/\/nai500.com\/blog\/2018\/05\/%e5%8a%a0%e6%8b%bf%e5%a4%a7%e5%af%8c%e4%ba%ba%e4%bd%95%e4%bb%a5%e6%9b%b4%e5%af%8c%ef%bc%9f-%e5%90%88%e6%a0%bc%e6%8a%95%e8%b5%84%e8%80%85%e5%88%b6%e5%ba%a6\/"},"modified":"2018-05-18T10:24:58","modified_gmt":"2018-05-18T17:24:58","slug":"%e5%8a%a0%e6%8b%bf%e5%a4%a7%e5%af%8c%e4%ba%ba%e4%bd%95%e4%bb%a5%e6%9b%b4%e5%af%8c%ef%bc%9f-%e5%90%88%e6%a0%bc%e6%8a%95%e8%b5%84%e8%80%85%e5%88%b6%e5%ba%a6","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2018\/05\/%e5%8a%a0%e6%8b%bf%e5%a4%a7%e5%af%8c%e4%ba%ba%e4%bd%95%e4%bb%a5%e6%9b%b4%e5%af%8c%ef%bc%9f-%e5%90%88%e6%a0%bc%e6%8a%95%e8%b5%84%e8%80%85%e5%88%b6%e5%ba%a6\/","title":{"rendered":"\u52a0\u62ff\u5927\u5bcc\u4eba\u4f55\u4ee5\u66f4\u5bcc\uff1f \u2014\u2014\u5408\u683c\u6295\u8cc7\u8005\u5236\u5ea6"},"content":{"rendered":"<h4>\u2014\u2014\u8ab0\u662f\u201c\u5408\u683c\u6295\u8cc7\u8005\u201d\uff1f<\/h4>\n<h4>\u5408\u683c\u6295\u8cc7\u8005\u5236\u5ea6\u662f\u5bcc\u4eba\u8ca1\u5bcc\u589e\u503c\u7684\u6700\u6709\u529b\u5de5\u5177\u3002\u5728\u52a0\u62ff\u5927\uff0c\u5408\u683c\u6295\u8cc7\u8005\u53ef\u4ee5\u4eab\u53d7\u4f01\u696d\u5feb\u901f\u589e\u9577\u7684\u6210\u679c\u53ca\u8af8\u591a\u7a05\u6536\u512a\u60e0\u3002<\/h4>\n<p>\u4e00\u500b\u6211\u5011\u7121\u6cd5\u8ff4\u907f\u7684\u73fe\u5be6\uff1a\u8ca7\u5bcc\u5dee\u8ddd\u4e0d\u65b7\u64f4\u5927\u5df2\u7d93\u6210\u70ba\u5168\u7403\u8da8\u52e2\uff0c\u5bcc\u8005\u6108\u5bcc\uff0c\u52a0\u62ff\u5927\u4ea6\u7136\u3002<\/p>\n<p>\u4e0d\u904e\uff0c\u8207\u4e2d\u570b\u56e0\u57ce\u5e02\u5316\u9032\u7a0b\u6279\u91cf\u751f\u7522\u201c\u66b4\u5bcc\u201d\u968e\u5c64\u4e0d\u540c\uff0c\u5728\u52a0\u62ff\u5927\uff0c\u5bcc\u4eba\u66f4\u591a\u53d7\u76ca\u65bc\u5408\u683c\u6295\u8cc7\u8005\uff08Accredited Investor\uff09\u7684\u91d1\u878d\u5236\u5ea6\u5b89\u6392\u3002<\/p>\n<p>\u7528\u4e92\u806f\u7db2\u4e16\u754c\u50ac\u751f\u7684\u65b0\u8a5e\u2014\u2014\u201c\u7761\u5f8c\u6536\u5165\u201d\u4f86\u89e3\u91cb\uff0c\u5408\u683c\u6295\u8cc7\u8005\u64c1\u6709\u66f4\u591a\u7372\u53d6\u201c\u7761\u5f8c\u6536\u5165\u201d\u7684\u6e20\u9053\u3002\u6839\u64da\u4e92\u52d5\u767e\u79d1\uff1a\u7761\u5f8c\u6536\u5165\u5c31\u662f\u4e0d\u9700\u8981\u82b1\u8cbb\u591a\u5c11\u6642\u9593\u548c\u7cbe\u529b\uff0c\u4e5f\u4e0d\u9700\u8981\u7167\u770b\uff0c\u5c31\u53ef\u4ee5\u81ea\u52d5\u7372\u5f97\u7684\u6536\u5165\u3002\u807d\u4e0a\u53bb\u6982\u5ff5\u5f88\u65b0\u9bae\uff0c\u7a76\u5176\u672c\u8cea\u4ecd\u7136\u662f\u7528\u4f60\u64c1\u6709\u7684\u8cc7\u6e90\u53bb\u8cfa\u53d6\u6536\u76ca\u3002<\/p>\n<p>\u6b63\u5982\u525b\u7562\u696d\u7684\u5e74\u8f15\u4eba\u51fa\u552e\u6280\u80fd\u8207\u52de\u52d5\u529b\u7372\u53d6\u6536\u5165\uff0c\u4f5c\u70ba\u5df2\u6709\u8cc7\u91d1\u7a4d\u7d2f\u7684\u5bcc\u4eba\u4f86\u8aaa\uff0c\u66f4\u61c9\u8a72\u7528\u8cc7\u91d1\u7372\u53d6\u6536\u76ca\u3002<\/p>\n<h3>\u5bcc\u4eba\u4e5f\u7126\u616e<\/h3>\n<p>\u8207\u666e\u901a\u5927\u773e\u4e00\u6a23\uff0c\u5bcc\u4eba\u540c\u6a23\u8655\u65bc\u7126\u616e\u7684\u5927\u6642\u4ee3\u80cc\u666f\u4e4b\u4e2d\u3002<\/p>\n<p>\u9996\u5148\uff0c\u65b0\u79d1\u6280\u5e36\u52d5\u7684\u7d93\u6fdf\u9ad8\u901f\u767c\u5c55\u4e4b\u4e0b\uff0c\u8ddf\u4e0a\u6642\u4ee3\u7684\u6b65\u4f10\u3001\u751a\u81f3\u8dd1\u8d0f\u901a\u8139\u90fd\u4e26\u4e0d\u5bb9\u6613\u3002<\/p>\n<p>\u5f9e\u4e0a\u4e16\u7d0080\u5e74\u4ee3\u7684\u201c\u842c\u5143\u6236\u201d\u523090\u5e74\u4ee3\u201c\u767e\u842c\u5143\u624d\u7b97\u5bcc\u201d\uff0c\u5230\u800c\u4eca\u201c\u5317\u4eac\u767e\u842c\u5e74\u85aa\u525b\u812b\u8ca7\u201d\u2026\u2026\u5982\u6b64\u7684\u767c\u5c55\u901f\u5ea6\uff0c\u65b0\u6649\u7684\u4e2d\u570b\u5bcc\u4eba\u5011\u8981\u4fdd\u885b\u81ea\u5df1\u7684\u8ca1\u5bcc\u4e26\u4e0d\u5bb9\u6613\u3002<\/p>\n<p>\u540c\u6642\uff0c\u820a\u9322\u8207\u65b0\u9322\u7684\u5207\u63db\uff0c\u8207\u7d93\u6fdf\u7d50\u69cb\u7684\u8f49\u63db\u4e92\u76f8\u547c\u61c9\u3002\u6280\u8853\u66f4\u65b0\u4e4b\u5feb\uff0c\u5373\u4fbf\u662f\u65b0\u9322\u90fd\u5728\u8fc5\u901f\u8f49\u8b8a\u70ba\u820a\u9322\uff0c\u5f88\u5bb9\u6613\u88ab\u6642\u4ee3\u62cb\u68c4\u3002\u5728\u9019\u4e00\u9ede\u4e0a\uff0c\u5bf0\u7403\u540c\u6b64\u6dbc\u71b1\u3002\u4e2d\u570b\u6709\u683c\u529b\u8463\u660e\u73e0\u8207\u5c0f\u7c73\u96f7\u8ecd\u4e4b\u9593\u7684\u201c\u8ced\u5c40\u201d\uff0c\u7f8e\u570b\u6709\u5df4\u83f2\u7279\u8207\u99ac\u65af\u514b\u7684\u89c0\u9ede\u5c0d\u5cd9\u3002<\/p>\n<p>\u53e6\u5916\uff0c\u5728\u4ee5\u9ad8\u7a05\u6536\u9ad8\u798f\u5229\u8457\u7a31\u7684\u52a0\u62ff\u5927\uff0c\u201c\u5bcc\u4eba\u5011\u201d\u66f4\u9700\u6ce8\u610f\u7684\u662f\u540d\u76ee\u7e41\u591a\u4e14\u6578\u984d\u9ad8\u6602\u7684\u7a05\u6536\uff0c\u6709\u6578\u64da\u7a31\uff0c\u52a0\u62ff\u5927\u4eba\u6bcf\u5e74\u5e73\u574743.4%\u7684\u6536\u5165\u7528\u65bc\u7e73\u7a05\uff0c\u800c\u201c\u5bcc\u4eba\u5011\u201d\u66f4\u662f\u91cd\u9ede\u88ab\u7a05\u5c0d\u8c61\u3002<\/p>\n<p>\u4e0d\u904e\uff0c\u52a0\u62ff\u5927\u91d1\u878d\u5236\u5ea6\u5b8c\u5584\uff0c\u6295\u8cc7\u8207\u7a05\u52d9\u512a\u60e0\u5de5\u5177\u7e41\u591a\uff0c\u5bcc\u4eba\u53ea\u8981\u7528\u8db3\u4e86\u6295\u8cc7\u8ca1\u52d9\u653f\u7b56\u5de5\u5177\uff0c\u5c31\u80fd\u8ddf\u4e0a\u5168\u7403\u8ca1\u5bcc\u589e\u9577\u7684\u8173\u6b65\u3002<\/p>\n<h3>\u4f60\u662f\u5bcc\u4eba\u55ce\uff1f<\/h3>\n<p>\u201c\u5bcc\u201d\u662f\u500b\u76f8\u5c0d\u7684\u6982\u5ff5\uff0c\u4f46\u5728\u6295\u8cc7\u9818\u57df\u4f86\u8b1b\uff0c\u5247\u610f\u5473\u8457\uff0c\u64c1\u6709\u7684\u8cc7\u91d1\u6216\u6536\u5165\u53ef\u4ee5\u627f\u64d4\u76f8\u61c9\u7684\u98a8\u96aa\uff0c\u800c\u4e0d\u6703\u5c0d\u65e5\u5e38\u751f\u6d3b\u9020\u6210\u5f71\u97ff\uff0c\u56e0\u6b64\u53ef\u4ee5\u535a\u53d6\u66f4\u9ad8\u7684\u6536\u76ca\u3002<\/p>\n<p>\u5118\u7ba1\u201c\u50f9\u503c\u6295\u8cc7\u201d\u6536\u5230\u8af8\u591a\u64c1\u8e89\u8005\u7684\u8ffd\u6367\uff0c\u4f46\u201c\u6536\u76ca\u8207\u98a8\u96aa\u6210\u6b63\u6bd4\u201d\u9019\u4e00\u908f\u8f2f\u6c38\u9060\u6210\u7acb\uff08\u7d14\u7cb9\u7684\u8a50\u9a19\u8207\u9053\u5fb7\u98a8\u96aa\u4e0d\u518d\u6b64\u5217\uff09\uff0c\u6295\u8cc7\u61c9\u8a72\u7528\u6eff\u8db3\u65e5\u5e38\u751f\u6d3b\u4e4b\u5916\u7684\u201c\u9592\u9322\u201d\u3002<\/p>\n<p>\u70ba\u4e86\u4fdd\u8a3c\u6295\u878d\u8cc7\u5e02\u5834\u7684\u5065\u5eb7\u6210\u9577\uff0c\u767c\u9054\u570b\u5bb6\u5747\u5c0d\u53ef\u4ee5\u53c3\u8207\u79c1\u52df\u878d\u8cc7\u7684\u201c\u5bcc\u4eba\u201d\u5236\u5b9a\u4e86\u653f\u7b56\u9580\u6abb\u3002\u4e8b\u5be6\u4e0a\u6709\u89c0\u9ede\u8a8d\u70ba\uff0c\u6b63\u662f\u201c\u5408\u683c\u6295\u8cc7\u4eba\u201d\u8207\u201c\u8a3b\u518a\u5236\u201d\u653f\u7b56\u4fdd\u8b49\u4e86\u7f8e\u570b\u65b0\u8208\u4f01\u696d\u7684\u84ec\u52c3\u767c\u5c55\uff0c\u9019\u4e5f\u662f\u4e2d\u570b\u91d1\u878d\u5e02\u5834\u6539\u9769\u7684\u65b9\u5411\u3002<\/p>\n<p>\u6309\u7167\u52a0\u62ff\u5927\u76ee\u524d\u6cd5\u898f\uff08National Instrument 45-106, Ontario Securities Commission\uff09\uff0c\u6eff\u8db3\u4e0b\u5217\u689d\u4ef6\u4e2d\u7684\u4efb\u4f55\u4e00\u500b\u5373\u6eff\u8db3\u201c\u5bcc\u4eba\u201d\u689d\u4ef6\uff0c\u5c6c\u65bc\u5408\u683c\u6295\u8cc7\u8005\uff08Accredited Investors\uff09\uff0c\u53ef\u4ee5\u53c3\u8207\u79c1\u52df\u6295\u8cc7\uff1a<\/p>\n<ul>\n<li>\u500b\u4eba\u6216\u914d\u5076\u64c1\u6709\u7684\u91d1\u878d\u8cc7\u7522\u5728\u6263\u9664\u4efb\u4f55\u76f8\u95dc\u8ca0\u50b5\u5f8c\u7a05\u524d\u53ef\u8b8a\u73fe\u50f9\u503c\u7e3d\u548c\u8d85\u904e$100\u842c\u3002<\/li>\n<li>\u500b\u4eba\u5728\u6700\u8fd1\u5169\u500b\u65e5\u66c6\u5e74\u6bcf\u5e74\u7684\u7a05\u524d\u6de8\u6536\u5165\u90fd\u8d85\u904e$20\u842c\u3002<\/li>\n<li>\u500b\u4eba\u8207\u914d\u5076\u5728\u6700\u8fd1\u5169\u500b\u65e5\u66c6\u5e74\u6bcf\u5e74\u7684\u7a05\u524d\u6de8\u6536\u5165\u7e3d\u548c\u90fd\u8d85\u904e$30\u842c\u3002<\/li>\n<li>\u500b\u4eba\u6216\u8207\u914d\u5076\u5171\u540c\u64c1\u6709\u7684\u6de8\u8cc7\u7522\u81f3\u5c11$500\u842c\u3002<\/li>\n<li>\u6700\u8fd1\u88fd\u5099\u7684\u8ca1\u52d9\u5831\u8868\u986f\u793a\u55ae\u500b\u6cd5\u4eba\u5be6\u9ad4\u7684\u6de8\u8cc7\u7522\u81f3\u5c11\u70ba$500\u842c\uff0c\u4e0d\u5305\u62ec\u500b\u4eba\u6216\u6295\u8cc7\u57fa\u91d1\u3002<\/li>\n<\/ul>\n<p>\u5982\u679c\u60a8\u7b26\u5408\u4ee5\u4e0a\u8981\u6c42\uff0c\u5c31\u610f\u5473\u8457\u66f4\u5ee3\u95ca\u7684\u6295\u8cc7\u7a7a\u9593\u5df2\u7d93\u70ba\u4f60\u6253\u958b\uff0c\u53ef\u4ee5\u9078\u64c7\u66f4\u5177\u6536\u76ca\u6f5b\u529b\u53ca\u591a\u9805\u7a05\u52d9\u653f\u7b56\u512a\u60e0\u7684\u6295\u8cc7\u6e20\u9053\u3002<\/p>\n<h3>\u201c\u5408\u683c\u6295\u8cc7\u8005\u201d\u6295\u8cc7\u65b9\u5411\u53ca\u512a\u52e2<\/h3>\n<p>\u91dd\u5c0d\u666e\u901a\u5927\u773e\u6295\u8cc7\u8005\u7684\u7522\u54c1\uff0c\u70ba\u4e86\u4fdd\u8b49\u5176\u5b89\u5168\u6027\uff0c\u76e3\u7ba1\u66f4\u70ba\u56b4\u683c\uff0c\u5176\u7522\u54c1\u9700\u8981\u5b8c\u5168\u516c\u958b\uff0c\u6295\u8cc7\u65b9\u5411\u53d7\u5230\u8af8\u591a\u9650\u5236\uff1b\u800c\u5408\u683c\u6295\u8cc7\u8005\u53ef\u4ee5\u6295\u8cc7\u7684\u7522\u54c1\u66f4\u52a0\u9748\u6d3b\u591a\u6a23\uff0c\u7576\u7136\u9019\u4e26\u4e0d\u610f\u5473\u8457\u6295\u8cc7\u8005\u6c92\u6709\u53d7\u5230\u4fdd\u8b77\uff0c\u91dd\u5c0d\u5408\u683c\u6295\u8cc7\u8005\u7684\u79c1\u52df\u57fa\u91d1\u540c\u6a23\u5fc5\u9808\u56b4\u683c\u9075\u5b88\u52a0\u62ff\u5927\u76f8\u95dc\u6cd5\u898f\uff0c\u6295\u8cc7\u8005\u53ef\u4ee5\u5229\u7528\u9019\u4e9b\u6cd5\u898f\u4fdd\u8b77\u81ea\u5df1\u7684\u6295\u8cc7\u3002\u5408\u683c\u6295\u8cc7\u8005\u53ef\u53c3\u8207\u7684\u6295\u8cc7\u4e3b\u8981\u6709\u4ee5\u4e0b\u5e7e\u500b\u65b9\u5411\uff1a<\/p>\n<ul>\n<li>\n<h4><strong>\u79c1\u52df\u6295\u8cc7\u516c\u773e\u4e0a\u5e02\u516c\u53f8\uff08PIPE\uff09<\/strong><\/h4>\n<\/li>\n<\/ul>\n<p>PIPE\u662fPrivate Investment in Public Equity\u7684\u7e2e\u5beb\uff0c\u6307\u6295\u8cc7\u65bc\u5df2\u4e0a\u5e02\u516c\u53f8\u80a1\u4efd\u7684\u79c1\u52df\u80a1\u6b0a\u6295\u8cc7\uff0c\u5373\u4ee5\u5e02\u5834\u50f9\u683c\u7684\u4e00\u5b9a\u6298\u50f9\u7387\u8cfc\u8cb7\u4e0a\u5e02\u516c\u53f8\u80a1\u4efd\u7684\u4e00\u7a2e\u6295\u8cc7\u65b9\u5f0f\u3002<\/p>\n<p>\u5c0d\u4e0a\u5e02\u516c\u53f8\u4f86\u8aaa\uff0cPIPE\u878d\u8cc7\u6210\u672c\u548c\u878d\u8cc7\u6548\u7387\u76f8\u5c0d\u8f03\u9ad8\uff0c\u76e3\u7ba1\u6a5f\u69cb\u7684\u5be9\u67e5\u8f03\u5c11\uff0c\u800c\u4e14\u4e0d\u9700\u8981\u6602\u8cb4\u7684\u8def\u6f14\u6210\u672c\uff0c\u4f7f\u5f97\u7372\u5f97\u8cc7\u672c\u7684\u6210\u672c\u548c\u6642\u9593\u90fd\u5927\u5927\u964d\u4f4e\u3002\u5c0d\u6295\u8cc7\u4eba\u4f86\u8aaa\u4e5f\u662f\u975e\u5e38\u5212\u7b97\u7684\u4ea4\u6613\uff0c\u8207\u5728\u4e8c\u7d1a\u5e02\u5834\u76f4\u63a5\u8cfc\u8cb7\u80a1\u7968\u76f8\u6bd4\uff0c\u4e0d\u50c5\u53ef\u4ee5\u7372\u5f97\u66f4\u4f4e\u7684\u4ea4\u6613\u50f9\u683c\uff0c\u9084\u6709\u671b\u7372\u53d6\u76f8\u61c9\u6b0a\u8b49\uff08Warrant\uff09\uff0c\u5373\u5728\u898f\u5b9a\u671f\u9593\u5167\u6216\u7279\u5b9a\u5230\u671f\u65e5\uff0c\u6309\u7d04\u5b9a\u50f9\u683c\u5411\u767c\u884c\u4eba\u8cfc\u8cb7\u6216\u51fa\u552e\u6a19\u7684\u8b49\u5238\u7684\u6b0a\u5229\u3002<\/p>\n<p>\u5728\u52a0\u62ff\u5927\u8b49\u5238\u4ea4\u6613\u5e02\u5834\uff0c\u6700\u5177\u7279\u8272\u7684\u662f\u65e9\u671f\u7926\u696d\u4f01\u696d\uff0c\u5728\u521d\u671f\u7684\u63a2\u6e2c\u8207\u63a1\u6a23\u968e\u6bb5\uff0c\u516c\u53f8\u6c92\u6709\u4efb\u4f55\u6536\u5165\uff0c\u9700\u8981\u878d\u8cc7\u624d\u80fd\u4fdd\u8b49\u7e7c\u7e8c\u904b\u884c\uff0c\u653f\u5e9c\u70ba\u4e86\u4fdd\u8b49\u9019\u4e9b\u5f9e\u4e8b\u8cc7\u6e90\u52d8\u63a2\u548c\u958b\u767c\u7684\u516c\u53f8\u7372\u53d6\u8cc7\u91d1\u652f\u6301\uff0c\u8a2d\u7f6e\u4e86Flow through shares\uff08FTS\uff09\u7522\u54c1\u3002<\/p>\n<p>FTS\u662f\u6307\u52a0\u62ff\u5927\u7684\u7926\u696d\u3001\u77f3\u6cb9\u548c\u5929\u7136\u6c23\u4ee5\u53ca\u53ef\u518d\u751f\u80fd\u6e90\u548c\u7bc0\u80fd\u884c\u696d\u7684\u516c\u53f8\u70ba\u5176\u9805\u76ee\u52d8\u63a2\u548c\u958b\u767c\u6d3b\u52d5\u878d\u8cc7\u800c\u767c\u884c\u7684\u4e00\u7a2e\u7279\u6b8a\u80a1\u7968\u3002 FTS\u6295\u8cc7\u7684\u5e36\u4f86\u7684\u56de\u5831\u662f\u96d9\u91cd\u7684\uff0c\u65e2\u6709\u901a\u904e\u7a05\u6536\u62b5\u6e1b\u7d66\u6295\u8cc7\u4eba\u5e36\u4f86\u7684\u6536\u76ca\uff0c\u4e5f\u517c\u5177\u80a1\u50f9\u5347\u503c\u5e36\u4f86\u7684\u56de\u5831\u3002<\/p>\n<p>\u91dd\u5c0dFTS\u7684\u6295\u8cc7\uff0c\u5168\u90e8\u6295\u8cc7\u984d\u53ef\u76f4\u63a5\u62b5\u6e1b\u7576\u5e74\u5ea6\u7684\u6536\u5165\uff0c\u5408\u683c\u7684\u7926\u7522\u6295\u8cc7\u66f4\u53ef\u7372\u5f97\u984d\u591615%\u523020%\u7684\u806f\u90a6Investment Tax Credits\uff08ITC\uff09\u9000\u7a05\u548c\u5404\u77015%-30%\u4e0d\u7b49\u7684ITC \u3002\u4e5f\u5c31\u662f\u8aaa\uff0c\u5982\u679c\u4f60\u7684\u5e74\u6536\u5165\u572810\u842c\u52a0\u5143\uff0c\u4e00\u65e6\u6295\u8cc7\u4e865\u842c\u7684FTS\uff0c\u61c9\u7a05\u984d\u5ea6\u5c31\u76f4\u63a5\u964d\u4f4e\u52305\u842c\u52a0\u5143\uff0c\u6b64\u5916\u9084\u80fd\u4eab\u53d7\u5230\u806f\u90a6\u548c\u5177\u9ad4\u6295\u8cc7\u7701\u7684ITC\u9000\u7a05\u3002<\/p>\n<p><a href=\"https:\/\/nai500.com\/wp-content\/uploads\/2018\/05\/FTS.jpg\"><img decoding=\"async\" class=\"aligncenter wp-image-221725 size-full lazyload\" data-src=\"https:\/\/nai500.com\/wp-content\/uploads\/2018\/05\/FTS.jpg\" alt=\"Flow through shares\uff08FTS\uff09\u5408\u683c\u6295\u8cc7\u8005 \u5408\u683c\u6295\u8d44\u8005\" width=\"500\" height=\"275\" data-srcset=\"https:\/\/nai500.com\/wp-content\/uploads\/2018\/05\/FTS.jpg 500w, https:\/\/nai500.com\/wp-content\/uploads\/2018\/05\/FTS-302x166.jpg 302w, https:\/\/nai500.com\/wp-content\/uploads\/2018\/05\/FTS-300x165.jpg 300w, https:\/\/nai500.com\/wp-content\/uploads\/2018\/05\/FTS-390x215.jpg 390w\" data-sizes=\"(max-width: 500px) 100vw, 500px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 500px; --smush-placeholder-aspect-ratio: 500\/275;\" \/><\/a><\/p>\n<ul>\n<li>\n<h4><strong>\u4e2d\u5c0f\u4f01\u696d\u98a8\u96aa\u6295\u8cc7<\/strong><\/h4>\n<\/li>\n<\/ul>\n<p>\u98a8\u96aa\u6295\u8cc7\u662f\u6307\u5411\u65e9\u671f\u521d\u5275\u4f01\u696d\u63d0\u4f9b\u8cc7\u91d1\u4e26\u7372\u53d6\u80a1\u4efd\u7684\u6295\u8cc7\u65b9\u5f0f\u3002\u5f9e\u8fd1\u671f\u6b77\u53f2\u7d93\u9a57\u770b\uff0c\u6240\u6709\u771f\u6b63\u5177\u6709\u985b\u8986\u6027\u7684\u65b0\u751f\u6280\u8853\u6216\u6a21\u5f0f\u5728\u6210\u70ba\u4e3b\u6d41\u4e4b\u524d\uff0c\u90fd\u6703\u8655\u65bc\u7f3a\u4e4f\u6709\u6548\u73fe\u91d1\u6d41\u652f\u6490\u7684\u968e\u6bb5\uff0c\u5546\u696d\u4e0a\u5177\u6709\u6975\u5927\u4e0d\u78ba\u5b9a\u6027\uff0c\u4f46\u9019\u7a2e\u4e0d\u78ba\u5b9a\u6027\u6b63\u662f\u5176\u8d85\u984d\u6536\u76ca\u7684\u4f86\u6e90\uff0c\u53ea\u6709\u6297\u98a8\u96aa\u80fd\u529b\u5f37\u7684\u5408\u683c\u6295\u8cc7\u8005\u624d\u80fd\u53c3\u8207\u9019\u7a2e\u201c\u4e0d\u78ba\u5b9a\u201d\u7684\u6295\u8cc7\u3002<\/p>\n<p>\u800c\u4eca\u5bcc\u53ef\u6575\u570b\u7684BAT\u6216GAFA\u5011\uff0c\u90fd\u66fe\u7d93\u6709\u904e\u4f4e\u50f9\u5c0b\u627e\u878d\u8cc7\u5ea6\u904e\u751f\u6b7b\u52ab\u7684\u7d93\u6b77\u3002\u65e5\u672c\u8edf\u9280\u6295\u8cc7\u65e9\u671f\u963f\u91cc\u5df4\u5df4\u3001\u5357\u975eMIH\u6295\u8cc7\u65e9\u671f\u9a30\u8a0a\u7372\u5f97\u4e0a\u5343\u500d\u6536\u76ca\u7684\u6848\u4f8b\u70ba\u4eba\u5011\u6d25\u6d25\u6a02\u9053\u3002\u5408\u683c\u6295\u8cc7\u8005\u53c3\u8207\u79c1\u52df\u98a8\u96aa\u6295\u8cc7\uff0c\u6709\u671b\u4ee5\u6700\u512a\u60e0\u7684\u50f9\u683c\u9032\u5165\u5177\u6709\u6210\u9577\u6f5b\u529b\u7684\u5275\u65b0\u578b\u4f01\u696d\u3002<\/p>\n<ul>\n<li>\n<h4><strong>\u79c1\u52df\u80a1\u6b0a\u6295\u8cc7<\/strong><\/h4>\n<\/li>\n<\/ul>\n<p>\u5408\u683c\u6295\u8cc7\u8005\u9084\u53ef\u4ee5\u901a\u904e\u79c1\u52df\u57fa\u91d1\u6295\u8cc7\u975e\u4e0a\u5e02\u516c\u53f8\u80a1\u6b0a\u3002\u901a\u5e38\u4f86\u8b1b\uff0c\u79c1\u52df\u80a1\u6b0a\u57fa\u91d1\u5728\u53c3\u8207\u4f01\u696d\u80a1\u6b0a\u6295\u8cc7\u6642\uff0c\u662f\u4ee5\u6230\u7565\u5408\u4f5c\u7684\u8eab\u4efd\u53c3\u8207\u9032\u4f86\u7684\uff0c\u53ef\u4ee5\u6df1\u5165\u5730\u4ecb\u5165\u4f01\u696d\u7684\u65e5\u5e38\u7ba1\u7406\uff0c\u5c0d\u4f01\u696d\u7684\u672a\u4f86\u3001\u767c\u5c55\u6709\u4e3b\u5c0e\u7ba1\u7406\u7684\u512a\u52e2\uff0c\u6295\u8cc7\u8005\u53ef\u4ee5\u901a\u904e\u79c1\u52df\u57fa\u91d1\u5728\u7522\u696d\u5167\u7684\u7d93\u9a57\u638c\u63e1\u81ea\u5df1\u7684\u6295\u8cc7\u547d\u904b\u3002<\/p>\n<p>\u540c\u6642\uff0c\u79c1\u52df\u80a1\u6b0a\u57fa\u91d1\u5728\u53c3\u8207\u4f01\u696d\u80a1\u6b0a\u6295\u8cc7\u6642\uff0c\u6703\u9032\u884c\u56b4\u683c\u98a8\u96aa\u63a7\u5236\uff0c\u5728\u8cc7\u91d1\u6ce8\u5165\u4e4b\u524d\u6703\u8207\u4f01\u696d\u7c3d\u7f72\u4fdd\u8b77\u81ea\u8eab\u8cc7\u672c\u5b89\u5168\u7684\u5354\u8b70\u3002\u5728\u8cc7\u672c\u9000\u51fa\u4e0a\uff0c\u4e5f\u6709\u591a\u7a2e\u6e20\u9053\uff0c\u901a\u5e38\u5305\u62ec\u4e0a\u5e02\u9000\u51fa\u3001\u6ea2\u50f9\u56de\u8cfc\u9000\u51fa\u3001\u4f75\u8cfc\u9000\u51fa\u3001\u80a1\u6b0a\u8f49\u8b93\u7b49\u7372\u5229\u9000\u51fa\u65b9\u5f0f\uff0c\u4fdd\u8b49\u53c3\u8207\u7684\u5408\u683c\u6295\u8cc7\u8005\u6709\u66f4\u591a\u5b89\u5168\u7684\u7372\u5229\u9000\u51fa\u9078\u64c7\u3002<\/p>\n<ul>\n<li>\n<h4>\u5176\u4ed6\u6295\u8cc7<\/h4>\n<\/li>\n<\/ul>\n<p>\u9664\u4ee5\u4e0a\u6295\u8cc7\u6e20\u9053\u4e4b\u5916\uff0c\u5408\u683c\u6295\u8cc7\u8005\u9084\u53ef\u4ee5\u53c3\u8207\u591a\u7a2e\u5f62\u5f0f\u7684\u6295\u8cc7\u7522\u54c1\uff0c\u5982\u5411\u5275\u696d\u4f01\u696d\u6216\u623f\u7522\u958b\u767c\u5546\u767c\u653e\u8cb8\u6b3e\uff0c\u4eab\u53d7\u7a69\u5b9a\u7684\u9ad8\u5229\u7387\u6536\u76ca\u3002\u4eca\u5f8c\uff0c\u6211\u5011\u5c07\u7e7c\u7e8c\u70ba\u6295\u8cc7\u8005\u63d0\u4f9b\u66f4\u591a\u7684\u6295\u8cc7\u4fe1\u606f\u53ca\u7522\u54c1\u9078\u64c7\u3002<\/p>\n<p>&nbsp;<\/p>\n<p><strong>\u7d9c\u5408\u800c\u8a00\uff0c\u5c0d\u65bc\u52a0\u62ff\u5927\u7684\u5bcc\u88d5\u83ef\u4eba\u4f86\u8aaa\uff0c\u53c3\u8207\u5408\u683c\u6295\u8cc7\u4eba\u6295\u8cc7\u8a08\u5283\u4e0d\u50c5\u5fc5\u8981\uff0c\u66f4\u5177\u7dca\u8feb\u6027\u3002\u6295\u8cc7\u670d\u52d9\u5546NAI Interactive Ltd. \u5317\u7f8e\u6295\u8cc7\u8a0a\u606f\u6709\u9650\u516c\u53f8\u591a\u5e74\u670d\u52d9\u65bc\u83ef\u4eba\u6295\u8cc7\u8005\uff0c\u5c08\u6ce8\u5317\u7f8e\u4e2d\u5c0f\u5e02\u503c\u4e0a\u5e02\u516c\u53f8\uff0c\u5e6b\u52a9\u83ef\u4eba\u8cc7\u672c\u5c0b\u627e\u5317\u7f8e\u6295\u8cc7\u6a5f\u6703\u3002<\/strong><\/p>\n<p><strong>\u5982\u679c\u60a8\u81ea\u6e2c\u7b26\u5408\u4e0a\u8ff0\u5408\u683c\u6295\u8cc7\u8005\u7684\u689d\u4ef6\uff0c<a href=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSf6g8EZuBodA15_YN6H6TKfr4Vn1jFQcoF0kv5Z4E0XoQQgdA\/viewform?usp=sf_link\">\u8acb\u9ede\u64ca\u9019\u88e1\u586b\u5beb\u5408\u683c\u6295\u8cc7\u8005\u8868\u683c<\/a>\uff0c\u7372\u53d6\u5317\u7f8e\u6295\u8cc7\u4fe1\u606f\uff0c\u540c\u6642\u53ef\u4ee5\u53c3\u8207NAI\u91dd\u5c0d\u5408\u683c\u6295\u8cc7\u8005\u8209\u8fa6\u7684VIP\u5348\u5bb4\u53ca\u805a\u6703\u3002<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2014\u2014\u8ab0\u662f\u201c\u5408\u683c\u6295\u8cc7\u8005\u201d\uff1f \u5408\u683c\u6295\u8cc7\u8005\u5236\u5ea6\u662f\u5bcc\u4eba\u8ca1\u5bcc\u589e\u503c\u7684\u6700\u6709\u529b\u5de5\u5177\u3002\u5728\u52a0\u62ff\u5927\uff0c\u5408\u683c\u6295\u8cc7\u8005\u53ef\u4ee5\u4eab\u53d7\u4f01\u696d\u5feb\u901f\u589e\u9577\u7684 [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":221730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[426,867,994,431],"tags":[],"class_list":["post-221736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hant","category-featured-zh-hant","category-994","category-trends-strategies-zh-hant","sectors-real-estate-zh-hant","sectors-life-science-zh-hant","sectors-mining-zh-hant","sectors-oil-gas-zh-hant","sectors-gold-zh-hant","sectors-financial-products-zh-hant","sectors-technology-zh-hant","locations-canada-zh-hant"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/221736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=221736"}],"version-history":[{"count":0,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/221736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/221730"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=221736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=221736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=221736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}