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\u7684\u589e\u901f\u4e3a\u57fa\u51c6\uff0c\u53ef\u89c1<strong>\u672c\u5b63\u5e73\u53f0\u6536\u5165<\/strong>\uff08\u4e3b\u8981\u4ece GTV \u6263\u9664\u53f8\u673a\u5206\u6210\u53ca\u5176\u4ed6\u8fd0\u8425\u4fa7\u6210\u672c\uff0c\u66f4\u53cd\u6620\u5e73\u53f0\u7559\u5b58\u7684\u5229\u6da6\uff09<strong>\u540c\u6bd4\u589e\u957f\u7ea6 24%\uff0c<\/strong>\u800c\u8d22\u52a1\u6307\u6807\u7684<strong>\u56fd\u5185\u4e1a\u52a1\u8425\u6536<\/strong>\uff08\u4ece GTV \u4e3b\u8981\u5254\u9664\u4e58\u5ba2\u8865\u8d34\u3001\u7a0e\u8d39\u7b49\u6536\u5165\u51cf\u9879\uff09<strong>\u540c\u6bd4\u589e\u957f 7.8%\u3002<\/strong><\/p>\n<p data-track=\"28\"><strong>\u4ece\u5e73\u53f0\u6536\u5165\u5927\u5e45\u8dd1\u8d62 GTV\uff0c\u800c\u8d22\u52a1\u8425\u6536\u5c0f\u5e45\u8dd1\u8f93\uff0c<\/strong>\u53ef\u89c1<strong>\u6ef4\u6ef4\u4e2d\u56fd\u4e1a\u52a1\u7684\u5e73\u53f0\u53d8\u73b0\u7387\u662f\u6709\u8d70\u9ad8\u7684\uff0c\u4e5f\u662f\u672c\u5b63\u5229\u6da6\u8d85\u9884\u671f\u7684\u6839\u672c\u539f\u56e0\u3002<\/strong>\u76f8\u5bf9\u7684\uff0c<strong>\u672c\u5b63\u5bf9\u6d88\u8d39\u8005\u7684\u8865\u8d34\u5219\u7565\u6709\u63d0\u5347\uff0c<\/strong>\u62d6\u7d2f\u4e86\u8d22\u52a1\u8425\u6536\u589e\u901f\u3002<\/p>\n<p data-track=\"29\"><strong>4\u3001\u6d77\u5916\u4fdd\u6301\u9ad8\u589e\u957f\u53c8\u51cf\u4e8f\uff1a\u6d77\u5916\u4e1a\u52a1\u4e0a\uff0c\u672c\u5b63\u540d\u4e49 GTV \u540c\u6bd4\u589e\u957f 13%<\/strong>\u3002\u770b\u4f3c\u5e76\u4e0d\u9ad8\uff0c<strong>\u4f46\u4ecd\u4e3b\u8981\u662f\u53d7\u6c47\u7387\u9006\u98ce\u7684\u5f71\u54cd\u3002<\/strong>\u5254\u9664\u6c47\u7387\u5f71\u54cd\u540e\uff0c<strong>\u56fd\u9645\u4e1a\u52a1 GTV \u5b9e\u9645\u589e\u901f\u8fd1 28%\u3002<\/strong>\u4ece\u4e0d\u53d7\u4ef7\u683c\u56e0\u7d20\u5f71\u54cd\u7684\u8ba2\u5355\u91cf\u540c\u6bd4\u589e\u901f\u8fbe 23.5%\uff0c\u4e5f\u53ef\u89c1\u6d77\u5916\u4e1a\u52a1\u7684\u589e\u957f\u662f\u4e0d\u9519\u7684\u3002<\/p>\n<p data-track=\"30\">\u4e0e\u6b64\u540c\u65f6\uff0c\u5982\u4e0a\u6587\u63d0\u53ca\u7684\uff0c<strong>\u672c\u5b63\u6d77\u5916\u4e1a\u52a1\u7684\u4e8f\u635f\u4e5f\u6536\u7a84\u5230\u4ec5 1.8 \u4ebf<\/strong>\uff0c\u626d\u8f6c\u4e86\u4e0a\u5b63\u5ea6\u5f15\u8d77\u7684\u6d77\u5916\u4f1a\u4e0d\u4f1a\u56e0\u6295\u5165\u548c\u4f53\u91cf\u589e\u957f\uff0c\u4e8f\u635f\u4f1a\u518d\u5ea6\u8d70\u9614\u7684\u62c5\u5fe7\u3002<\/p>\n<p data-track=\"31\">5\u3001<strong>\u6574\u4f53\u5229\u6da6\u8868\u73b0\u4e0a\uff0c<\/strong>\u4e00\u65b9\u9762<strong>\u56fd\u5185\u4e1a\u52a1<\/strong>\u5728\u53d8\u73b0\u7387\u63d0\u9ad8\u7684\u5e26\u52a8\u4e0b\uff0c<strong>adj.EBITA \u5229\u6da6\u7387\uff08\u5360 GTV \u6bd4\u91cd\uff09\u5386\u53f2\u9996\u6b21\u8fbe\u5230 4%<\/strong>\uff0c\u76f8\u6bd4 24 \u5e74\u5728 3% \u5de6\u53f3\u5c0f\u5e45\u6ce2\u52a8\u7684\u6c34\u5e73\u660e\u663e\u63d0\u5347\u3002<strong>\u6d77\u5916\u4e1a\u52a1\u7684\u4e8f\u635f\u7387\u4e5f\u9996\u6b21\u7f29\u7a84\u5230 1% \u4ee5\u4e0b<\/strong>\u3002<\/p>\n<p data-track=\"32\"><strong>\u6ef4\u6ef4\u6574\u4f53\u672c\u5b63\u7684 adj.EBITA \u8fbe 29.5 \u4ebf\uff0c\u60f3\u6bd4\u4e0a\u5b63\u7684\u8fd1 15 \u4ebf\u8fd1\u4e4e\u7ffb\u500d\u3002<\/strong>\u626d\u8f6c\u4e86\u4e0a\u5b63\u5ea6 \u201c\u7206\u96f7\u201d \u5f0f\u5229\u6da6\u663e\u8457\u4e0b\u6ed1\u7684\u8d8b\u52bf\u3002<\/p>\n<p data-track=\"33\"><strong>6\u3001\u4ece\u6210\u672c\u548c\u8d39\u7528\u89d2\u5ea6\u770b\uff0c<\/strong>\u5728\u56fd\u5185\u4e1a\u52a1\u63d0\u53d8\u73b0\u4ee5\u53ca\u6574\u4f53\u7ecf\u8425\u6548\u7387\u6539\u5584\u4e0b\uff0c<strong>\u6bdb\u5229\u7387\u540c\u6bd4\u63d0\u5347\u4e86\u7ea6 1.7 \u4e2a\u767e\u5206\u6bd4\uff0c<\/strong>\u6539\u5584\u4e0d\u5c0f\u3002<\/p>\n<p data-track=\"34\">\u540c\u65f6\uff0c<strong>\u56db\u9879\u7ecf\u8425\u8d39\u7528\u5408\u8ba1\u4ec5\u540c\u6bd4\u589e\u957f\u7ea6 4%\uff0c<\/strong>\u8fde\u7eed\u6570\u4e2a\u5b63\u5ea6\u4f4e\u4e2a\u4f4d\u6570\u589e\u957f<strong>\uff0c\u4f53\u73b0\u4e86\u516c\u53f8\u4e25\u683c\u628a\u63a7\u8d39\u7528\uff0c\u6324\u51fa\u5229\u6da6\u7684\u6001\u5ea6\u3002<\/strong>\u5177\u4f53\u6765\u770b\uff0c<strong>\u8d39\u7528\u589e\u957f\u4e3b\u8981\u4f53\u73b0\u5728\u8425\u9500<\/strong>\uff08\u53cd\u6620\u4e86\u4e58\u5ba2\u8865\u8d34\uff09<strong>\u548c\u7ba1\u7406\u8d39\u7528\u4e0a<\/strong>\uff0c\u540c\u6bd4\u90fd\u589e\u957f\u4e86\u7ea6 7%\uff08\u6362\u8a00\u4e4b\uff0c\u5176\u4ed6\u8d39\u7528\u8fd1\u4e4e\u96f6\u589e\u957f\uff09\u3002<\/p>\n<p><img decoding=\"async\" class=\"syl-page-img\" style=\"height: auto;\" src=\"https:\/\/gbres.dfcfw.com\/Files\/iimage\/20250606\/85C5E15C2CABCD3A847BB8E9EB10B262_w1451h1410.jpg\" \/><\/p>\n<p 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