?????IPO,????????

9??????17????,??H???????????,??310???????????????,???????????????IPO????????????????????,????????9???23??????????????????,????,???67.6???,????54.8???????23%?

???????“????”????????????,?????“A+H”??????,????,??????

???

?????????,??

“??,???????????????,???????????”????20??,??????????????,????,???

????????????,?????????????????????????????????????????????20?80??????????????,????,????,??????40%?????????,???41.92%,????????????????????13.09%?

?????,?????????????????,?????2023??,??????????OBM(?????????????)???????40%?????????????,?60%?

???????????2024??????,???????OBM???????????,????OBM??????????????OBM????????????????????????,???????OBM????????????????

???????????,??????????????????,???????“A+H”???????????????????????????

2007??,?????????,???????????????????“A+H”???????????,???“???????”?2016??,??????????,????????????????37%?????????54%,???7??????????10???

??,?????????????????,???????????????????????????????,????????????,????????????????,2024???????????????486.4?????????,???13.27%,?36.91%,???

????????????????H??,?????,???????????

?????????,??????2022???????????,????????????;2023????????,??????????,????????????????

?????????????????

?????????????????,??;????,????;??????MKI?????……????,?????“?”?????

???????????????????“??????”,???????“??”????,?????,?????????????????????????,?????????????????????

?????“???????????????????”?????“???????”,?2.0????????????????????????????????????“????????????”????????????,???

???????,?“???????????”??????????:???“?????????????”;???;??“??”,?,????

??????,??,?????????????????

??????????????????,?????????????????????2023????????????????????36.3????

?????????,???8600????????????????,?????????,???????,????

??,?????“???????????????????”????????,?????????????????????????????????????????????,????????????????????,?????,?????????????????

???????,??,????????????????

?????????????“?????????????????”,???

“????????????,???”????????????,?????????????????????????,?????????,??,???

????????????????,???????,????????????,??????????????,???????????????,?????????????????,??????,???

????“??????”??????????????????????,???????,????????????????????«2023?????»?????,2023????????????????????,????????,????????2022?????????????????,???

???????????????,???????????“????????????”???????????,?????????“??”,??????????

??,??,?????????????????????20?????????????,????????????????,?????????????,????????????,???????????

??????????? ???????? ?? ???????:??????? “???????”????

?? ????????2.0??

????:1????????:??????300??

2???????

3??????????

4?????

5????????

?????IPO,????????

9??????17????,??H???????????,??310???????????????,???????????????IPO????????????????????,????????9???23??????????????????,????,???67.6???,????54.8???????23%?

???????“????”????????????,?????“A+H”??????,????,??????

???

?????????,??

“??,???????????????,???????????”????20??,??????????????,????,???

????????????,?????????????????????????????????????????????20?80??????????????,????,????,??????40%?????????,???41.92%,????????????????????13.09%?

?????,?????????????????,?????2023??,??????????OBM(?????????????)???????40%?????????????,?60%?

???????????2024??????,???????OBM???????????,????OBM??????????????OBM????????????????????????,???????OBM????????????????

???????????,??????????????????,???????“A+H”???????????????????????????

2007??,?????????,???????????????????“A+H”???????????,???“???????”?2016??,??????????,????????????????37%?????????54%,???7??????????10???

??,?????????????????,???????????????????????????????,????????????,????????????????,2024???????????????486.4?????????,???13.27%,?36.91%,???

????????????????H??,?????,???????????

?????????,??????2022???????????,????????????;2023????????,??????????,????????????????

?????????????????

?????????????????,??;????,????;??????MKI?????……????,?????“?”?????

???????????????????“??????”,???????“??”????,?????,?????????????????????????,?????????????????????

?????“???????????????????”?????“???????”,?2.0????????????????????????????????????“????????????”????????????,???

???????,?“???????????”??????????:???“?????????????”;???;??“??”,?,????

??????,??,?????????????????

??????????????????,?????????????????????2023????????????????????36.3????

?????????,???8600????????????????,?????????,???????,????

??,?????“???????????????????”????????,?????????????????????????????????????????????,????????????????????,?????,?????????????????

???????,??,????????????????

?????????????“?????????????????”,???

“????????????,???”????????????,?????????????????????????,?????????,??,???

????????????????,???????,????????????,??????????????,???????????????,?????????????????,??????,???

????“??????”??????????????????????,???????,????????????????????«2023?????»?????,2023????????????????????,????????,????????2022?????????????????,???

???????????????,???????????“????????????”???????????,?????????“??”,??????????

??,??,?????????????????????20?????????????,????????????????,?????????????,????????????,???????????

??????????? ???????? ?? ???????:???????