{"id":8869,"date":"2026-05-19T21:14:12","date_gmt":"2026-05-19T13:14:12","guid":{"rendered":"https:\/\/www.syfe.com\/hk\/magazine\/?p=8869"},"modified":"2026-05-07T15:11:56","modified_gmt":"2026-05-07T07:11:56","slug":"%e5%9f%ba%e7%9f%b3-%e6%8a%95%e8%b3%87-%e8%80%85","status":"publish","type":"post","link":"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e5%9f%ba%e7%9f%b3-%e6%8a%95%e8%b3%87-%e8%80%85\/","title":{"rendered":"\u65b0\u80a1IPO\u5fc5\u77e5\u7684\u904b\u4f5c\u6a5f\u5236\uff5c\u6e2f\u80a1\u57fa\u77f3\u6295\u8cc7\u8005\u5168\u653b\u7565"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/05\/\u57fa\u77f3-\u6295\u8cc7-\u8005-1024x576.png\" alt=\"\" class=\"wp-image-8870\" srcset=\"https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/05\/\u57fa\u77f3-\u6295\u8cc7-\u8005-1024x576.png 1024w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/05\/\u57fa\u77f3-\u6295\u8cc7-\u8005-300x169.png 300w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/05\/\u57fa\u77f3-\u6295\u8cc7-\u8005-768x432.png 768w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/05\/\u57fa\u77f3-\u6295\u8cc7-\u8005-1536x864.png 1536w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/05\/\u57fa\u77f3-\u6295\u8cc7-\u8005-747x420.png 747w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/05\/\u57fa\u77f3-\u6295\u8cc7-\u8005-696x392.png 696w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/05\/\u57fa\u77f3-\u6295\u8cc7-\u8005-1068x601.png 1068w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/05\/\u57fa\u77f3-\u6295\u8cc7-\u8005.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>\u8fd1\u5e74\u4e0d\u5c11\u9999\u6e2f\u65b0\u80a1\u5728\u62db\u80a1\u6642\u90fd\u5927\u6253\u300c\u57fa\u77f3\u724c\u300d\uff0c\u52d5\u8f12\u6709\u4e3b\u6b0a\u57fa\u91d1\u3001\u9577\u7dda\u6a5f\u69cb\u6216\u77e5\u540d\u5bcc\u8c6a\u5750\u9663\u3002\u7a76\u7adf\u57fa\u77f3\u6295\u8cc7\u8005\u5728\u9999\u6e2f\u65b0\u80a1\u5e02\u5834\u626e\u6f14\u4ec0\u9ebc\u89d2\u8272\uff1f\u4ed6\u5011\u5982\u4f55\u53c3\u8207\u8a8d\u8cfc\uff1fSyfe\u7de8\u8f2f\u5718\u968a\u7cfb\u7d71\u6027\u5730\u89e3\u69cb\u57fa\u77f3\u6295\u8cc7\u8005\u7684\u5b9a\u7fa9\u3001\u904b\u4f5c\u6a5f\u5236\u53ca\u5e02\u5834\u529f\u80fd\uff0c\u5354\u52a9\u80a1\u7968\u6295\u8cc7\u65b0\u624b\u5efa\u7acb\u66f4\u5168\u9762\u7684\u5206\u6790\u6846\u67b6\u3002<\/p>\n\n\n\t\t\t\t<div class=\"wp-block-uagb-table-of-contents uagb-toc__align-left uagb-toc__columns-1  uagb-block-2ad927f6      \"\n\t\t\t\t\tdata-scroll= \"1\"\n\t\t\t\t\tdata-offset= \"30\"\n\t\t\t\t\tstyle=\"\"\n\t\t\t\t>\n\t\t\t\t<div class=\"uagb-toc__wrap\">\n\t\t\t\t\t\t<div class=\"uagb-toc__title\">\n\t\t\t\t\t\t\tTable Of Contents\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"uagb-toc__list-wrap \">\n\t\t\t\t\t\t<ol class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#\u4f55\u8b02\u57fa\u77f3\u6295\u8cc7\u8005\" class=\"uagb-toc-link__trigger\">\u4f55\u8b02\u57fa\u77f3\u6295\u8cc7\u8005\uff1f<\/a><ul class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#\u6e2f\u80a1\u57fa\u77f3\u6295\u8cc7\u8005\u5236\u5ea6\u7684\u6b77\u53f2\" class=\"uagb-toc-link__trigger\">\u6e2f\u80a1\u57fa\u77f3\u6295\u8cc7\u8005\u5236\u5ea6\u7684\u6b77\u53f2<\/a><li class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#\u57fa\u77f3\u6295\u8cc7\u8005\u7684\u7279\u5fb5\" class=\"uagb-toc-link__trigger\">\u57fa\u77f3\u6295\u8cc7\u8005\u7684\u7279\u5fb5<\/a><li class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#\u57fa\u77f3\u6295\u8cc7\u8207\u5176\u4ed6\u985e\u578b\u65b0\u80a1\u6295\u8cc7\u7684\u5206\u5225\" class=\"uagb-toc-link__trigger\">\u57fa\u77f3\u6295\u8cc7\u8207\u5176\u4ed6\u985e\u578b\u65b0\u80a1\u6295\u8cc7\u7684\u5206\u5225<\/a><ul class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#\u5c0d\u57fa\u77f3\u6295\u8cc7\u8005\u76843\u500b\u5e38\u898b\u8aa4\u89e3\" class=\"uagb-toc-link__trigger\">\u5c0d\u57fa\u77f3\u6295\u8cc7\u8005\u76843\u500b\u5e38\u898b\u8aa4\u89e3<\/a><\/li><\/ul><\/li><\/ul><\/li><li class=\"uagb-toc__list\"><a href=\"#\u900f\u904e\u65b0\u6642\u4ee3fintech\u958b\u59cb\u6295\u8cc7\" class=\"uagb-toc-link__trigger\">\u900f\u904e\u65b0\u6642\u4ee3Fintech\u958b\u59cb\u6295\u8cc7<\/a><\/ul><\/ul><\/ol>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\n\n\n<h2 class=\"wp-block-heading\">\u4f55\u8b02\u57fa\u77f3\u6295\u8cc7\u8005\uff1f<\/h2>\n\n\n\n<p>\u57fa\u77f3\u6295\u8cc7\u8005\uff08\u82f1\u6587\uff1aCornerstone Investor\uff09\u662f\u6307\u5728<a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/ipo-%e6%96%b0%e8%82%a1-%e4%b8%8a%e5%b8%82-%e6%84%8f%e6%80%9d\/\">\u65b0\u80a1\u4e0a\u5e02<\/a>\u524d\uff0c\u8207\u767c\u884c\u4eba\u7c3d\u8a02\u8a8d\u8cfc\u5354\u8b70\uff0c\u9810\u5148\u627f\u8afe\u4ee5IPO\u50f9\u683c\u8a8d\u8cfc\u4e00\u5b9a\u6578\u984d\u80a1\u4efd\u7684\u6a5f\u69cb\u6295\u8cc7\u8005\u3002\u4e0d\u8ad6\u6700\u7d42\u516c\u958b\u8a8d\u8cfc\u500d\u6578\u591a\u9ad8\uff0c\u4ed6\u5011\u90fd\u80fd\u78ba\u4fdd\u7372\u5f97\u5354\u8b70\u4e2d\u7d04\u5b9a\u7684\u80a1\u4efd\u6578\u91cf\u3002<\/p>\n\n\n\n<p>\u5728\u6e2f\u80a1\u5e02\u5834\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u901a\u5e38\u662f\u5927\u578b\u9577\u7dda\u6a5f\u69cb\u6295\u8cc7\u8005\u3001\u4e3b\u6b0a\u57fa\u91d1\u3001\u4fdd\u96aa\u516c\u53f8\u3001\u9577\u671f\u7b56\u7565\u80a1\u6771\u6216\u9ad8\u6de8\u503c\u5bcc\u8c6a\uff0c\u4ed6\u5011\u5728\u62db\u80a1\u524d\u5df2\u8207\u767c\u884c\u4eba\u53ca\u627f\u92b7\u5546\u5354\u8b70\uff0c\u4ee5IPO\u6700\u7d42\u5b9a\u50f9\u8a8d\u8cfc\u6307\u5b9a\u91d1\u984d\u80a1\u4efd\uff0c\u4e26\u63a5\u53d7\u901a\u5e38\u70ba\u671f\u7d04\u516d\u500b\u6708\u7684\u7981\u552e\u671f\uff08\u9396\u5b9a\u671f\uff09\u3002<\/p>\n\n\n\n<p>\u5f9e\u5e02\u5834\u89d2\u5ea6\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u540d\u55ae\u5e38\u88ab\u8996\u70ba\u5c0d\u65b0\u80a1\u8cea\u7d20\u7684\u300c<a href=\"https:\/\/www.bschool.cuhk.edu.hk\/wp-content\/uploads\/Thomson-Reuters_Cornerstone.pdf\">\u80cc\u66f8<\/a>\u300d\u6216\u300c\u8a8d\u8b49\u300d\uff0c\u5c24\u5176\u7576\u4e2d\u5305\u62ec\u570b\u969b\u77e5\u540d\u9577\u7dda\u57fa\u91d1\u6216\u884c\u696d\u9f8d\u982d\u4f01\u696d\u6642\uff0c\u67d0\u7a0b\u5ea6\u4e0a\u7b49\u540c\u5411\u5e02\u5834\u767c\u51fa\u4fe1\u865f\uff0c\u986f\u793a\u4ed6\u5011\u7d93\u904e\u76e1\u8077\u5be9\u67e5\u5f8c\u5c0d\u516c\u53f8\u7684\u8cea\u7d20\u8207\u524d\u666f\u62b1\u6709\u4fe1\u5fc3\u3002<\/p>\n\n\n\n<p>\u4f8b\u59822025\u5e74\u5168\u7403\u96fb\u6c60\u9f8d\u982d\u5be7\u5fb7\u6642\u4ee3\uff083750\uff09\u5728\u9999\u6e2f\u639b\u724c\u4e0a\u5e02\uff0c\u96c6\u8cc7\u984d\u7d0446\u5104\u7f8e\u5143\uff0c\u6210\u70ba\u7576\u5e74\u5168\u7403\u898f\u6a21\u6700\u5927\u7684\u65b0\u80a1\u767c\u884c\uff0c\u800c\u80cc\u5f8c\u6709\u591a\u905423\u540d\u57fa\u77f3\u6295\u8cc7\u8005\u5408\u8a08\u8a8d\u8cfc\u7d0426\u5104\u7f8e\u5143\u80a1\u4efd\uff0c\u4f54\u767c\u552e\u80a1\u4efd\u9ad8\u905465.7%\u3002<\/p>\n\n\n\n<p>\u9019\u7a2e\u300c\u80cc\u66f8\u300d\u6709\u52a9\u6e1b\u5c11\u767c\u884c\u4eba\u8207\u6f5b\u5728\u6295\u8cc7\u8005\u4e4b\u9593\u7684\u8cc7\u8a0a\u4e0d\u5c0d\u7a31\uff0c\u5c24\u5176\u5c0d\u65bc\u696d\u52d9\u6a21\u5f0f\u8f03\u70ba\u65b0\u7a4e\u6216\u5e02\u5834\u8a8d\u77e5\u5ea6\u4e0d\u9ad8\u7684\u4f01\u696d\u800c\u8a00\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u7684\u53c3\u8207\u80fd\u5920\u986f\u8457\u63d0\u5347\u5176\u4ed6\u6295\u8cc7\u8005\u7684\u8a8d\u8cfc\u610f\u9858\u3002<\/p>\n\n\n\n<p><strong>\u66f4\u591a<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/tag\/%E8%82%A1%E7%A5%A8%E6%8A%95%E8%B3%87%E5%85%A5%E9%96%80\/\"><strong>\u80a1\u7968\u6295\u8cc7\u5165\u9580<\/strong><\/a><strong>\u6982\u5ff5\uff1a<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e7%a2%8e-%e8%82%a1\/\"><strong>\u788e\u80a1<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e5%90%88%e8%82%a1-%e4%be%9b%e8%82%a1-%e6%8b%86%e8%82%a1-%e6%84%8f%e6%80%9d\/\"><strong>\u5408\u80a1<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e5%90%88%e8%82%a1-%e4%be%9b%e8%82%a1-%e6%8b%86%e8%82%a1-%e6%84%8f%e6%80%9d\/\"><strong>\u4f9b\u80a1<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e5%90%88%e8%82%a1-%e4%be%9b%e8%82%a1-%e6%8b%86%e8%82%a1-%e6%84%8f%e6%80%9d\/\"><strong>\u62c6\u80a1<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/?p=7078\"><strong>\u725b\u5e02<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/?p=7078\"><strong>\u718a\u5e02<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e6%8f%9b-%e6%89%8b-%e7%8e%87-turnover-rate-%e6%84%8f%e6%80%9d\/\"><strong>\u63db\u624b\u7387<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e9%bb%91-%e6%9c%9f\/\"><strong>\u9ed1\u671f<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e6%81%86%e6%8c%87-%e6%81%92%e6%8c%87-%e6%b8%af%e8%82%a1-hsi-%e5%a4%9c%e6%9c%9f-adr-%e9%a0%90%e6%89%98%e8%ad%89%e5%88%b8\/\"><strong>\u591c\u671f<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e7%be%8e%e5%9c%8b-%e9%a0%90%e8%a8%97-%e8%ad%89%e5%88%b8-%e8%8b%b1%e6%96%87-adr-%e6%84%8f%e6%80%9d-%e5%83%b9%e6%a0%bc-%e6%b8%af%e8%82%a1-%e5%8f%83%e8%80%83-%e5%83%b9%e5%80%bc\/\"><strong>\u9810\u8a17\u8a3c\u5238<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e7%99%bc-%e9%88%94-%e9%8a%80%e8%a1%8c\/\"><strong>\u767c\u9214\u9280\u884c<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e8%82%a1%e7%a5%a8-%e5%81%9c%e7%89%8c\/\"><strong>\u80a1\u7968\u505c\u724c<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/?p=7556\"><strong>\u80a1\u7968\u56de\u8cfc<\/strong><\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6e2f\u80a1\u57fa\u77f3\u6295\u8cc7\u8005\u5236\u5ea6\u7684\u6b77\u53f2<\/h3>\n\n\n\n<p>1997\u5e74\u4e9e\u6d32\u91d1\u878d\u5371\u6a5f\u7206\u767c\u5f8c\uff0c\u9999\u6e2f\u80a1\u5e02\u6ce2\u52d5\u5287\u70c8\uff0c\u65b0\u80a1\u767c\u884c\u8209\u6b65\u7dad\u8271\uff0c\u4e0d\u5c11\u4f01\u696d\u5c24\u5176\u662f\u4f86\u81ea\u5167\u5730\u7684\u570b\u6709\u4f01\u696d\u5728\u8d74\u6e2f\u4e0a\u5e02\u6642\u9762\u81e8\u6295\u8cc7\u8005\u4fe1\u5fc3\u4e0d\u8db3\u7684\u56f0\u5883\u3002\u6709\u898b\u53ca\u6b64\uff0c\u6e2f\u4ea4\u6240\u5f15\u5165\u4e86\u57fa\u77f3\u6295\u8cc7\u8005\u5236\u5ea6\uff0c\u501f\u52a9\u77e5\u540d\u6a5f\u69cb\u6295\u8cc7\u8005\u7684\u8072\u8b7d\u70ba\u65b0\u80a1\u91cb\u653e\u7a4d\u6975\u4fe1\u865f\uff0c\u5f9e\u800c\u5438\u5f15\u66f4\u5ee3\u6cdb\u7684\u6295\u8cc7\u8005\u7fa4\u9ad4\u53c3\u8207\u8a8d\u8cfc\u3002<\/p>\n\n\n\n<p>\u6e2f\u80a1\u57fa\u77f3\u6295\u8cc7\u8005\u5236\u5ea6\u57282005\u5e74\u6b63\u5f0f\u78ba\u7acb\uff0c\u4e26\u65bc2012\u5e74\u81f32013\u5e74\u9593\u9010\u6b65\u898f\u7bc4\u5316\u3002\u7d93\u904e\u591a\u5e74\u767c\u5c55\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u5df2\u6210\u70ba\u6e2f\u80a1IPO\u5e02\u5834\u4e0d\u53ef\u6216\u7f3a\u7684\u4e00\u74b0\u3002\u6709\u7d71\u8a08<a href=\"https:\/\/www.bschool.cuhk.edu.hk\/wp-content\/uploads\/Thomson-Reuters_Cornerstone.pdf\">\u6307<\/a>\uff0c\u57282003\u5e74\u81f32017\u5e74\u671f\u9593\uff0c\u9999\u6e2f\u4e3b\u677f\u5171\u6709872\u5b97\u65b0\u80a1IPO\uff0c\u7d04\u56db\u6210\u5f15\u5165\u57fa\u77f3\u6295\u8cc7\u8005\uff0c\u800c\u57fa\u77f3\u6295\u8cc7\u8005\u5e73\u5747\u8a8d\u8cfc\u4e86\u7d0426%\u7684\u767c\u552e\u80a1\u4efd\u3002<\/p>\n\n\n\n<p>\u5b89\u6c38\u6578\u64da\u5247<a href=\"https:\/\/www.bochk.com\/dam\/investment\/bocecon\/SY2025005(en).pdf\">\u986f\u793a<\/a>\uff0c2024\u5e74\u7d04\u670966%\u7684\u9999\u6e2fIPO\u8a2d\u6709\u57fa\u77f3\u6295\u8cc7\u8005\uff0c\u800c2025\u5e74\u4e0a\u534a\u5e74\uff0c\u903e\u56db\u6210\u7684\u65b0\u80a1\u7372\u5f97\u4e94\u5bb6\u4ee5\u4e0a\u57fa\u77f3\u6295\u8cc7\u8005\u53c3\u8207\uff0c\u986f\u793a\u57fa\u77f3\u6295\u8cc7\u8005\u5236\u5ea6\u5728\u6e2f\u80a1\u751f\u614b\u4e2d\u7684\u91cd\u8981\u6027\u8207\u65e5\u4ff1\u589e\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u57fa\u77f3\u6295\u8cc7\u8005\u7684\u7279\u5fb5<\/h3>\n\n\n\n<p>\u9019\u9805\u5236\u5ea6\u7684\u6838\u5fc3\u7279\u5fb5\u53ef\u6b78\u7d0d\u70ba\u4ee5\u4e0b\u5e7e\u9ede\uff1a<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>\u57fa\u77f3\u6295\u8cc7\u8005\u5fc5\u9808\u4ee5IPO\u6700\u7d42\u767c\u552e\u50f9\u683c\u8a8d\u8cfc\u80a1\u4efd\uff0c\u4e0d\u5f97\u7372\u5f97\u4efb\u4f55\u6298\u6263<\/li>\n\n\n\n<li>\u57fa\u77f3\u6295\u8cc7\u8005\u6240\u6301\u6709\u7684\u80a1\u4efd\u9808\u53d7\u6700\u5c11\u516d\u500b\u6708\u9396\u5b9a\u671f\uff08\u82f1\u6587\uff1alock-up period\uff09\u7684\u9650\u5236\uff0c\u671f\u9593\u4e0d\u5f97\u51fa\u552e<\/li>\n\n\n\n<li>\u57fa\u77f3\u6295\u8cc7\u8005\u5728\u4e0a\u5e02\u7533\u8acb\u4eba\u7684\u8463\u4e8b\u6703\u5167\u4e0d\u5f97\u8a2d\u6709\u4ee3\u8868\uff0c\u4e14\u9808\u7368\u7acb\u65bc\u4e0a\u5e02\u7533\u8acb\u4eba\u53ca\u5176\u95dc\u9023\u4eba\u58eb<\/li>\n\n\n\n<li>\u6240\u6709\u8a8d\u8cfc\u5b89\u6392\u7684\u8a73\u60c5\uff0c\u5305\u62ec\u6295\u8cc7\u8005\u7684\u8eab\u4efd\u3001\u80cc\u666f\u53ca\u8a8d\u8cfc\u91d1\u984d\uff0c\u5747\u9808\u5728\u62db\u80a1\u8aaa\u660e\u66f8\u4e2d\u5b8c\u6574\u62ab\u9732\u3002<\/li>\n<\/ol>\n\n\n\n<p>\u6b64\u5916\uff0c\u6e2f\u4ea4\u6240<a href=\"https:\/\/en-rules.hkex.com.hk\/sites\/default\/files\/net_file_store\/gl5113.pdf\">\u660e\u78ba\u7981\u6b62<\/a>\u4ee5\u9644\u51fd\u6216\u5176\u4ed6\u65b9\u5f0f\u5411\u57fa\u77f3\u6295\u8cc7\u8005\u63d0\u4f9b\u4efb\u4f55\u984d\u5916\u5229\u76ca\uff0c\u4f8b\u5982\u8c41\u514d\u7d93\u7d00\u4f63\u91d1\u3001\u5206\u4eab\u5305\u92b7\u4f63\u91d1\uff0c\u6216\u4fdd\u8b49\u5c07IPO\u52df\u96c6\u8cc7\u91d1\u6295\u8cc7\u65bc\u57fa\u77f3\u6295\u8cc7\u8005\u7ba1\u7406\u7684\u57fa\u91d1\u7b49\u3002\u9019\u4e9b\u898f\u5b9a\u65e8\u5728\u78ba\u4fdd\u6240\u6709\u6295\u8cc7\u8005\u7372\u5f97\u516c\u5e73\u5c0d\u5f85\uff0c\u7dad\u8b77\u5e02\u5834\u7684\u516c\u958b\u900f\u660e\u3002<\/p>\n\n\n\n<p><strong>\u66f4\u591a\u91d1\u878d\u884c\u696d\u5c08\u9580\u540d\u8a5e\u89e3\u91cb\uff1a<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%E6%B0%B8%E7%BA%8C-%E5%82%B5%E5%88%B8-perpetual-bond\/\"><strong>\u6c38\u7e8c\u50b5\u5238<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e5%b7%a8%e7%81%bd%e5%82%b5%e5%88%b8-%e6%98%af%e4%bb%80%e9%ba%bc-%e9%a6%99%e6%b8%af-%e5%9f%ba%e9%87%91-%e5%8e%9f%e7%90%86-%e4%bf%9d%e9%9a%aa%e7%9b%b8%e9%80%a3-%e8%8b%b1%e6%96%87\/\"><strong>\u5de8\u707d\u50b5\u5238<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e5%a6%82%e4%bd%95%e9%80%8f%e9%81%8e%e6%88%90%e6%9c%ac%e5%b9%b3%e5%9d%87%e6%b3%95%e7%a9%8d%e7%b4%af%e9%95%b7%e6%9c%9f%e8%b2%a1%e5%af%8c\/\"><strong>\u5e73\u5747\u6210\u672c\u6cd5<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e9%87%91%e8%9e%8d%e5%85%a5%e9%96%80%ef%bd%9c%e7%a7%81%e5%8b%9f%e5%9f%ba%e9%87%91%e8%88%87%e7%a7%81%e5%8b%9f%e8%82%a1%e6%ac%8a%e5%9f%ba%e9%87%91%e6%9c%89%e4%bd%95%e5%88%a5%ef%bc%9f\/\"><strong>\u79c1\u52df\u57fa\u91d1<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e8%b2%a8%e5%b9%a3-%e5%b8%82%e5%a0%b4-%e5%9f%ba%e9%87%91-%e9%a2%a8%e9%9a%aa-%e6%8e%a8%e8%96%a6-money-market-fund-%e4%b8%ad%e6%96%87\/\"><strong>\u8ca8\u5e63\u57fa\u91d1<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e9%a6%99%e6%b8%af-%e9%80%80%e4%bc%91-%e9%95%b7%e5%a3%bd-%e9%a2%a8%e9%9a%aa-%e9%a6%99%e6%b8%af-%e8%8b%b1%e6%96%87-longevity-risk\/\"><strong>\u9577\u58fd\u98a8\u96aa<\/strong><\/a><strong>\uff5c<\/strong><a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/?p=7052\"><strong>\u99ac\u592a\u6548\u61c9<\/strong><\/a>\uff5c<a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e6%bb%af%e8%84%b9-stagflation-%e6%8a%95%e8%b3%87-%e7%ad%96%e7%95%a5\/\"><strong>\u6eef\u8139<\/strong><\/a><\/p>\n\n\n\n<p>\u5728\u5b9a\u50f9\u65b9\u9762\u7531\u65bc\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u5fc5\u9808\u6309IPO\u6700\u7d42\u767c\u552e\u50f9\u683c\u8a8d\u8cfc\u80a1\u4efd\uff0c\u800c\u9019\u500b\u50f9\u683c\u5728\u4ed6\u5011\u7c3d\u8a02\u5354\u8b70\u6642\u5c1a\u672a\u78ba\u5b9a\u3002\u56e0\u6b64\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u901a\u5e38\u6703\u5728\u5354\u8b70\u4e2d\u627f\u8afe\u5728\u67d0\u500b\u50f9\u683c\u7bc4\u570d\u5167\u8a8d\u8cfc\uff0c\u4e26\u7d66\u51fa\u4ed6\u5011\u53ef\u63a5\u53d7\u7684\u4f30\u503c\u4e0a\u9650\u8207\u64ec\u8a8d\u8cfc\u6578\u91cf\u3002<\/p>\n\n\n\n<p>\u9019\u7a2e\u5b89\u6392\u5c0d\u6700\u7d42\u767c\u552e\u50f9\u683c\u5177\u6709\u4e00\u5b9a\u7684\u53c3\u8003\u4f5c\u7528\uff0c\u5c24\u5176\u5728\u5e02\u573a\u6c23\u6c1b\u8f03\u70ba\u5be9\u614e\u6216\u6295\u8cc7\u8005\u5c0d\u767c\u884c\u4eba\u8a8d\u77e5\u6709\u9650\u7684\u60c5\u6cc1\u4e0b\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u7684\u5b9a\u50f9\u8a71\u8a9e\u6b0a\u6703\u66f4\u70ba\u7a81\u51fa\u3002\u5b78\u8853<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0927538X14000213\">\u7814\u7a76<\/a><a href=\"https:\/\/academic.oup.com\/cmlj\/article-pdf\/8\/4\/427\/1280864\/kmt019.pdf\">\u986f\u793a<\/a>\uff0c\u5f15\u5165\u57fa\u77f3\u6295\u8cc7\u8005\u7684IPO\u5176\u62db\u80a1\u50f9\u5340\u9593\u66f4\u70ba\u6536\u7a84\uff0c\u5b9a\u50f9\u4e0d\u78ba\u5b9a\u6027\u660e\u986f\u964d\u4f4e\uff0c\u9996\u65e5\u6298\u8b93\u4ea6\u986f\u8457\u8f03\u4f4e\u3002<\/p>\n\n\n\n<p>2024\u5e74\u5e95\uff0c\u6e2f\u4ea4\u6240\u66fe\u5c31\u512a\u5316IPO\u50f9\u683c\u767c\u73fe\u6a5f\u5236\u9032\u884c\u8aee\u8a62\uff0c\u7576\u4e2d\u5efa\u8b70\u5141\u8a31\u300c\u5206\u6bb5\u89e3\u7981\u300d\u5b89\u6392\uff0c\u5373\u4e09\u500b\u6708\u5f8c\u91cb\u653e50%\u80a1\u4efd\u3001\u516d\u500b\u6708\u5f8c\u91cb\u653e\u9918\u4e0b50%\u3002\u7136\u800c\uff0c\u7531\u65bc\u96f6\u552e\u6295\u8cc7\u8005\u53ca\u7d93\u7d00\u884c\u666e\u904d\u652f\u6301\u7dad\u6301\u516d\u500b\u6708\u9396\u5b9a\uff0c\u800c\u79c1\u52df\u80a1\u6b0a\u6295\u8cc7\u8005\u53ca\u6cd5\u5f8b\u754c\u5247\u50be\u5411\u652f\u6301\u653e\u5bec\uff0c\u5e02\u5834\u610f\u898b\u672a\u80fd\u9054\u6210\u5171\u8b58\uff0c<a href=\"https:\/\/www.stheadline.com\/stock-market\/3486717\/%E6%B8%AF%E4%BA%A4%E6%89%80%E6%8B%9B%E8%82%A1%E6%94%B9%E9%9D%A9%E6%96%B0%E8%A6%8F84%E7%94%9F%E6%95%88-%E5%9B%9E%E6%92%A5%E6%A9%9F%E5%88%B6%E8%AE%93%E6%AD%A5%E8%87%B3%E4%B8%8A%E9%99%9035-%E5%9F%BA%E7%9F%B3%E6%8A%95%E8%B3%87%E8%80%85%E4%BF%9D%E7%95%996%E5%80%8B%E6%9C%88%E7%A6%81%E5%94%AE%E6%9C%9F\">\u6700\u7d42<\/a>\u6e2f\u4ea4\u6240\u57282025\u5e748\u6708\u6c7a\u5b9a\u7dad\u6301\u73fe\u6709\u516d\u500b\u6708\u9396\u5b9a\u4e0d\u8b8a\u3002<\/p>\n\n\n\n<p>\u66f4\u591a\u6e2f\u80a1\u6295\u8cc7\u8cc7\u8a0a\uff1a<a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/%e6%9c%88-%e4%be%9b-%e8%82%a1%e7%a5%a8\/\">\u6700\u53d7\u6b61\u8fce\u7684\u6e2f\u80a1\u6708\u4f9b\u80a1\u7968<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u57fa\u77f3\u6295\u8cc7\u8207\u5176\u4ed6\u985e\u578b\u65b0\u80a1\u6295\u8cc7\u7684\u5206\u5225<\/h3>\n\n\n\n<p>\u57fa\u77f3\u6295\u8cc7\u8005\u8207\u9328\u5b9a\u6295\u8cc7\u8005\uff08\u82f1\u6587\uff1aanchor investors\uff09\u6700\u5927\u7684\u5206\u5225\uff0c\u662f\u524d\u8005\u6703\u5728\u62db\u80a1\u66f8\u5167\u6e05\u6670\u5217\u51fa\u540d\u7a31\u3001\u8a8d\u8cfc\u91d1\u984d\u53ca\u9396\u5b9a\u671f\uff0c\u800c\u5f8c\u8005\u4e26\u7121\u62ab\u9732\u7fa9\u52d9\u4e14\u4e0d\u4eab\u6709\u4fdd\u8b49\u914d\u552e\u3002 \u5c0d\u6563\u6236\u800c\u8a00\uff0c\u80fd\u5728\u62db\u80a1\u66f8\u770b\u5230\u7684\u591a\u70ba\u57fa\u77f3\u53ca\u90e8\u5206\u6230\u7565\u80a1\u6771\uff0c\u800c\u9328\u5b9a\u53ca\u5176\u4ed6\u914d\u552e\u7684\u8cc7\u8a0a\u5247\u8f03\u70ba\u4e0d\u900f\u660e\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td>\u985e\u5225<\/td><td>\u9032\u5834\u6642\u9593<\/td><td>\u662f\u5426\u6709\u9396\u5b9a\u671f<\/td><td>\u914d\u552e\u662f\u5426\u6709\u4fdd\u969c<\/td><\/tr><tr><td>\u6230\u7565\u6295\u8cc7\u8005<\/td><td>Pre-IPO\u524d\u6578\u6708\u81f3\u6578\u5e74<\/td><td>\u5e38\u6709\u8f03\u9577\u9396\u5b9a\u671f<\/td><td>\u80a1\u6b0a\u53ca\u689d\u6b3e\u500b\u5225\u8ac7\u5224<\/td><\/tr><tr><td>\u57fa\u77f3\u6295\u8cc7\u8005<\/td><td>\u62db\u80a1\u524d\u7d042\u500b\u6708<\/td><td>\u4e00\u822c\u7d046\u500b\u6708<\/td><td>\u4ee5\u5354\u8b70\u91d1\u984d\u7372\u4fdd\u8b49\u914d\u552e<\/td><\/tr><tr><td>\u9328\u5b9a\u6295\u8cc7\u8005<\/td><td>\u8def\u6f14\u521d\u671f\u6216\u5b9a\u50f9\u524d1\u52302\u500b\u6708<\/td><td>\u901a\u5e38\u7121\u9396\u5b9a\u671f<\/td><td>\u7121\u4fdd\u8b49\uff0c\u6309\u5efa\u7c3f\u7d50\u679c\u5206\u8ca8<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u5f9e\u5730\u57df\u5206\u4f48\u4f86\u770b\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u5236\u5ea6\u5728\u4e9e\u6d32\u5e02\u5834\uff08\u9999\u6e2f\u3001\u65b0\u52a0\u5761\u3001\u99ac\u4f86\u897f\u4e9e\uff09\u8f03\u70ba\u666e\u904d\uff0c\u800c\u9328\u5b9a\u6295\u8cc7\u8005\u5247\u5728\u5168\u7403\u5404\u500b\u5e02\u5834\u5747\u6709\u51fa\u73fe\uff0c\u5305\u62ec\u7f8e\u570b\u9019\u500b\u6c92\u6709\u6b63\u5f0f\u57fa\u77f3\u6295\u8cc7\u8005\u5236\u5ea6\u7684\u5e02\u5834\u3002<\/p>\n\n\n\n<p>&gt;<a href=\"https:\/\/www.syfe.com\/hk\/magazine\/zh-hant\/tag\/%e8%82%a1%e7%a5%a8%e6%8a%95%e8%b3%87%e5%85%a5%e9%96%80\/\">\u80a1\u7968\u6295\u8cc7\u5165\u9580<\/a>&lt;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u5c0d\u57fa\u77f3\u6295\u8cc7\u8005\u76843\u500b\u5e38\u898b\u8aa4\u89e3<\/h4>\n\n\n\n<p>\u5c0d\u65bc\u666e\u901a\u6295\u8cc7\u8005\u800c\u8a00\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u7684\u53c3\u8207\u7121\u7591\u662f\u4e00\u500b\u503c\u5f97\u53c3\u8003\u7684\u6307\u6a19\uff0c\u4f46\u4ea6\u9808\u907f\u514d\u5e7e\u500b\u5e38\u898b\u8aa4\u89e3\u3002<\/p>\n\n\n\n<p>\u9996\u5148\uff0c\u6709\u57fa\u77f3\u6295\u8cc7\u8005\u4e26\u4e0d\u7b49\u65bcIPO\u4e00\u5b9a\u5347\u3002\u57fa\u77f3\u6295\u8cc7\u8005\u8207\u5176\u4ed6IPO\u6295\u8cc7\u8005\u4e00\u6a23\u627f\u64d4\u5e02\u5834\u98a8\u96aa\uff0c\u53ea\u662f\u898f\u6a21\u66f4\u5927\uff0c\u4ed6\u5011\u540c\u6a23\u53ef\u80fd\u9762\u5c0d\u8667\u640d\u3002<\/p>\n\n\n\n<p>\u5176\u6b21\uff0c\u57fa\u77f3\u6295\u8cc7\u8005\u4e26\u4e0d\u6703\u7372\u5f97\u5167\u5e55\u6d88\u606f\uff0c\u4ed6\u5011\u6240\u638c\u63e1\u7684\u8cc7\u8a0a\u50c5\u9650\u65bc\u62db\u80a1\u66f8\u5df2\u62ab\u9732\u7684\u5167\u5bb9\uff0c\u96d6\u7136\u6709\u66f4\u591a\u6642\u9593\u9032\u884c\u5206\u6790\uff0c\u4f46\u8cc7\u8a0a\u5167\u5bb9\u8207\u5176\u4ed6\u6295\u8cc7\u8005\u4e26\u7121\u4e8c\u81f4\u3002<\/p>\n\n\n\n<p>\u7b2c\u56db\uff0c\u4e26\u975e\u6240\u6709IPO\u90fd\u9700\u8981\u57fa\u77f3\u6295\u8cc7\u8005\uff0c\u5e02\u5834\u6c23\u6c1b\u826f\u597d\u3001\u516c\u53f8\u77e5\u540d\u5ea6\u9ad8\u7684\u65b0\u80a1\u53ef\u80fd\u4e0d\u9700\u8981\u57fa\u77f3\u6295\u8cc7\u8005\u4ea6\u80fd\u6210\u529f\u767c\u884c\uff0c\u53cd\u4e4b\u6c92\u6709\u57fa\u77f3\u6295\u8cc7\u8005\u4e0d\u4ee3\u8868\u516c\u53f8\u8cea\u7d20\u5dee\u3002<\/p>\n\n\n\n<p>\u503c\u5f97\u7559\u610f\u7684\u662f\uff0c\u7576\u591a\u5bb6\u57fa\u77f3\u6295\u8cc7\u8005\u7684\u9396\u5b9a\u671f\u540c\u6642\u5c46\u6eff\uff0c\u6216\u8207Pre-IPO\u6295\u8cc7\u8005\u7684\u9396\u5b9a\u671f\u91cd\u758a\u6642\uff0c\u5c0d\u80a1\u50f9\u7684\u5f71\u97ff\u53ef\u80fd\u66f4\u70ba\u986f\u8457\u3002\u56e0\u6b64\uff0c\u6295\u8cc7\u8005\u5728\u53c3\u95b1\u62db\u80a1\u66f8\u6642\uff0c\u9664\u4e86\u95dc\u6ce8\u57fa\u77f3\u6295\u8cc7\u8005\u7684\u8eab\u4efd\u548c\u8a8d\u8cfc\u6bd4\u4f8b\u5916\uff0c\u4ea6\u61c9\u7559\u610f\u5404\u985e\u80a1\u4efd\u7684\u9396\u5b9a\u671f\u5b89\u6392\u53ca\u5176\u5c46\u6eff\u6642\u9593\uff0c\u4ee5\u5168\u9762\u8a55\u4f30\u6f5b\u5728\u7684\u5e02\u5834\u98a8\u96aa\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u900f\u904e\u65b0\u6642\u4ee3Fintech\u958b\u59cb\u6295\u8cc7<\/h2>\n\n\n\n<p>\u8fd1\u5e74\u667a\u80fd\u6295\u8cc7\u5e73\u53f0\u8208\u8d77\uff0c\u900f\u904e\u6578\u4f4d\u670d\u52d9\u985b\u8986\u91d1\u878d\u754c\u3002<a href=\"https:\/\/www.syfe.com\/hk\">Syfe<\/a>\u63a8\u51fa\u7684<a href=\"https:\/\/www.syfe.com\/hk\/cash-plus-fixed\">\u5b9a\u606f\u5bf6<\/a>\uff0c\u4ee5\u6e2f\u5143\u7d50\u7b97\uff0c\u6240\u6295\u8cc7\u7684\u76f8\u95dc\u8cc7\u7522\u70ba\u5b9a\u671f\u5b58\u6b3e\uff0c\u606f\u7387\u8207\u5b9a\u5b58\u4e00\u6a23\u5c6c\u56fa\u5b9a\u6027\u8cea\uff0c\u4e26\u4e14\u6c92\u6709\u7ba1\u7406\u8cbb\uff0c\u8a2d\u67091\u500b\u6708\u30013\u500b\u6708\u30016\u500b\u6708\u671f\u53ca12\u500b\u6708\u671f\u9078\u64c7\uff0c\u5206\u5225\u70ba2.8\u5398\u30012.8\u5398\u30012.9\u5398\u53ca2.85\u5398<a href=\"https:\/\/www.syfe.com\/hk\/cash-plus-fixed\">\u56fa\u5b9a\u6536\u76ca\u7387<\/a>\uff0c\u8f03\u4e00\u822c\u5b9a\u5b58\u70ba\u9ad8\uff1b\u66f4\u91cd\u8981\u7684\u662f\uff0c\u5b9a\u606f\u5bf6\u4e0d\u8a2d\u6700\u4f4e\u6295\u8cc7\u984d\uff0c\u9664\u4e86\u9069\u5408\u8f03\u5c0f\u984d\u6295\u8cc7\u8005\u5916\uff0c\u4ea6\u9069\u5408\u6240\u6709\u4eba\u58eb\u914d\u7f6e\u9591\u7f6e\u8cc7\u91d1\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/01\/image-1.png\" alt=\"\" class=\"wp-image-7908\" srcset=\"https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/01\/image-1.png 1024w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/01\/image-1-300x169.png 300w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/01\/image-1-768x432.png 768w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/01\/image-1-747x420.png 747w, https:\/\/www.syfe.com\/hk\/magazine\/wp-content\/uploads\/2026\/01\/image-1-696x392.png 696w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><a href=\"https:\/\/www.syfe.com\/hk\/create-account\">\u7acb\u5373\u514c\u63db<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4f7f\u7528\u6307\u5b9a\u514c\u63db\u78bc\u958b\u6236\u3002<\/li>\n\n\n\n<li>\u5982\u6295\u5165\u9996\u7b46\u6b3e\u9805 HK$10,000 \u65bc\u4efb\u4f55\u6295\u8cc7\u7d44\u5408\uff0cHK$200 \u734e\u52f5\u5c07\u6703\u5b58\u5165\u4f60\u7684\u76f8\u95dc\u7d44\u5408\u3002\u9808\u7dad\u6301 90 \u65e5 HK$10,000 \u6216\u4ee5\u4e0a\u7684\u73fe\u91d1\u6d41\u65bc\u4f60\u7684\u76f8\u95dc\u7d44\u5408\u3002<\/li>\n\n\n\n<li>\u5982\u6295\u5165\u9996\u7b46\u6b3e\u9805 HK$50,000\uff0cHK$500 \u734e\u52f5\u5c07\u6703\u5b58\u5165\u4f60\u7684\u76f8\u95dc\u7d44\u5408\u3002\u9808\u7dad\u6301 90 \u65e5 HK$50,000 \u6216\u4ee5\u4e0a\u7684\u73fe\u91d1\u6d41\u65bc\u4f60\u7684\u76f8\u95dc\u7d44\u5408\u3002<\/li>\n\n\n\n<li>\u5982\u6295\u5165\u9996\u7b46\u6b3e\u9805 HK$100,000\uff0cHK$1,000 \u734e\u52f5\u5c07\u6703\u5b58\u5165\u4f60\u7684\u76f8\u95dc\u7d44\u5408\u3002\u9808\u7dad\u6301 90 \u65e5 HK$100,000 \u6216\u4ee5\u4e0a\u7684\u73fe\u91d1\u6d41\u65bc\u4f60\u7684\u76f8\u95dc\u7d44\u5408\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u5728\u98a8\u96aa\u5c64\u9762\u4e0a\uff0c\u96d6\u7136Syfe\u4e0d\u662f\u4e00\u5bb6\u9280\u884c\uff0c\u4f46\u6211\u5011\u900f\u904e\u4f5c\u70ba\u91d1\u878d\u6a5f\u69cb\u7684\u898f\u6a21\uff0c\u80fd\u5920\u8207\u9280\u884c\u5354\u5546\u5177\u7af6\u722d\u529b\u7684\u5b9a\u671f\u5b58\u6b3e\u5229\u7387\u3002\u6b64\u6295\u8cc7\u670d\u52d9\u4e0d\u5c6c\u65bc\u9999\u6e2f\u5b58\u6b3e\u4fdd\u969c\u8a08\u5283\uff08DPS\uff09\u7bc4\u570d\uff0c\u4f46\u6295\u8cc7\u8005\u53ef\u4ee5\u653e\u5fc3\u6295\u8cc7\uff0c\u56e0\u70ba\u6211\u5011\u53ea\u8207\u8ca1\u52d9\u7a69\u5065\u7684\u9280\u884c\u5408\u4f5c\u3002\u800c\u900f\u904e\u6211\u5011\u7684\u5408\u4f5c\u5925\u4f34\u95dc\u4fc2\uff0c\u4ee4\u5230\u5b9a\u606f\u5bf6\u7121\u9700\u4efb\u4f55\u7684\u9644\u5e36\u689d\u4ef6\uff0c\u4ea6\u53ef\u53d6\u5f97\u5177\u7af6\u722d\u529b\u7684\u6536\u76ca\u7387\uff0c\u7576\u4e2d\u5c0d\u6295\u8cc7\u91d1\u984d\u4e5f\u6c92\u6709\u4efb\u4f55\u4e0a\u9650\uff0c\u4e5f\u4e0d\u6536\u53d6\u4efb\u4f55\u8cbb\u7528\u3002<a href=\"https:\/\/help.hk.syfe.com\/hc\/zh-hk\/categories\/29611242043673-Syfe-%E5%AE%9A%E6%81%AF%E5%AF%B6-%E6%B8%AF%E5%85%83\">\u4f60\u53ef\u4ee5\u6309\u6b64\u4e86\u89e3\u66f4\u591a\u5b9a\u606f\u5bf6\u5e38\u898b\u554f\u984c\u3002<\/a><\/p>\n\n\n\n<p>*\u8a08\u7b97\u6a5f\u8aaa\u660e\u5982\u679c\u5b9a\u606f\u5bf6\u5728\u5de5\u4f5c\u65e5\u5230\u671f\uff0c\u4f60\u5c07\u6309\u73fe\u884c\u6536\u76ca\u7387\u7372\u5f97\u7684\u56fa\u5b9a\u6536\u76ca\u3002\u5982\u679c\u4e0d\u662f\u9019\u6a23\uff0c\u5b9a\u606f\u5bf6\u6295\u8cc7\u5c07\u5728\u4e0b\u4e00\u500b\u5de5\u4f5c\u65e5\u7d50\u675f\uff0c\u800c\u4f60\u5c07\u6309\u6bd4\u4f8b\u7372\u5f97\u984d\u5916\u65e5\u6578\u7684\u6536\u76ca\u3002<\/p>\n\n\n\n<p>\u5728\u6295\u8cc7\u958b\u59cb\u4e4b\u524d\uff0c\u6536\u76ca\u7387\u53ef\u80fd\u6703\u767c\u751f\u8b8a\u5316\u3002\u5b9a\u606f\u5bf6\u6536\u76ca\u662f\u56fa\u5b9a\u7684\uff0c\u4f46\u6703\u53d7\u5230\u6f5b\u5728\u9280\u884c\u98a8\u96aa\u7684\u5f71\u97ff\u3002 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