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\u5982\u679c\u60a8\u64c1\u6709\u591a\u5143\u5316\u7684\u6295\u8cc7\u7d44\u5408\uff0c\u5247\u975e\u5e38\u5b89\u5168\uff0c\u60a8\u53ef\u4ee5\u6839\u64da\u60a8\u6295\u8cc7\u7684\u5730\u7406\u4f4d\u7f6e\uff0c\u5927\u898f\u6a21\u7522\u751f 6-13% \u7684\u4e0a\u9650\u7387\uff08\u51c8\u71df\u696d\u6536\u5165\u9664\u4ee5\u8cfc\u8cb7\u50f9\u683c\uff09\u3002 \u70ba\u4e86\u7372\u5f97\u6700\u512a\u60e0\u7684\u50f9\u683c\uff0c\u60a8\u901a\u5e38\u4ee5\u73fe\u91d1\u8cfc\u8cb7\uff0c\u4ee5\u5f8c\u53ef\u4ee5\u518d\u878d\u8cc7\u3002 2011\u5e74\u81f32013\u5e74\u9593\uff0c\u4f55\u585e\u548c\u6211\u5728\u67cf\u6797\u8cfc\u8cb7\u4e86\u5e7e\u68df\u591a\u6236\u516c\u5bd3\u6a13\u3002 \u6211\u7684\u5144\u5f1f\u5967\u5229\u7dad\u723e\uff08Olivier\uff09\u7d93\u71df\u8457 <a href=\"http:\/\/www.home61.com\" target=\"_blank\" rel=\"noopener noreferrer\">Home61<\/a>\uff0c\u4ed6\u8aac\u660e\u5bb6\u65cf\u8fa6\u516c\u5ba4\u5728\u4f5b\u7f85\u91cc\u9054\u5dde\u9081\u963f\u5bc6\u548c\u4fc4\u4ea5\u4fc4\u5dde\u54e5\u502b\u5e03\u5e02\u5efa\u7acb\u4e86\u5275\u6536\u7269\u696d\u7d44\u5408\uff0c\u4e26\u53d6\u5f97\u4e86\u5de8\u5927\u6210\u529f\u3002 \u8acb\u6ce8\u610f\uff0c\u9019\u7a2e\u65b9\u6cd5\u4e0d\u9069\u7528\u65bc\u7d10\u7d04\u548c\u4e09\u85e9\u5e02\u7b49\u4e0a\u9650\u7387\u6975\u4f4e\u7684\u57ce\u5e02\u3002<\/p>\n<p>\u53e6\u4e00\u7a2e\u6210\u529f\u7684\u623f\u5730\u7522\u65b9\u6cd5\u662f\u5728\u9577\u671f\u548c\u77ed\u671f\u79df\u8cc3\u4e4b\u9593\u9032\u884c\u5957\u5229\u3002 \u60a8\u53ef\u4ee5\u8cfc\u8cb7\u6216\u7372\u5f97\u516c\u5bd3\u7684\u9577\u671f\u79df\u7d04\uff0c\u7136\u5f8c\u5728 Airbnb\uff08\u6216\u7528\u65bc\u516c\u53f8\u4f4f\u623f\u7b49\u7684\u4e2d\u671f\u79df\u8cc3\u5e02\u5834\uff09\u4e0a\u79df\u7528\u8f03\u77ed\u7684\u671f\u9650\u3002 \u5373\u4f7f\u8003\u616e\u5230\u7ba1\u7406\u516c\u53f8\u7684\u8cbb\u7528\uff08\u5047\u8a2d\u60a8\u4e0d\u60f3\u81ea\u5df1\u5b8c\u6210\u6240\u6709\u5de5\u4f5c\uff09\uff0c\u5728\u5e7e\u500b\u57ce\u5e02\uff0c\u60a8\u6bcf\u5e74\u53ef\u4ee5\u7522\u751f 15-25% \u7684\u51c8\u6536\u76ca\u3002 \u5b83\u7684\u53ef\u64f4\u5145\u6027\u901a\u5e38\u8f03\u4f4e\uff0c\u56e0\u70ba\u8a31\u591a\u5efa\u7bc9\u7269\u548c\u79df\u7d04\u4e0d\u5141\u8a31\u8f49\u79df\uff0c\u4e00\u4e9b\u57ce\u5e02\u4e0d\u5141\u8a31\u5728 Airbnb \u4e0a\u64c1\u6709\u591a\u500b\u623f\u6e90\u6216\u9650\u5236\u77ed\u671f\u4f4f\u5bbf\uff08\u4f8b\u5982 30 \u5929\u4ee5\u4e0b\uff09\uff0c\u4f46\u5b83\u662f\u60a8\u53ef\u4ee5\u5728\u5e02\u5834\u4e0a\u7522\u751f\u7684\u6700\u9ad8\u6536\u76ca\u4e4b\u4e00\u3002<\/p>\n<p>\u6beb\u4e0d\u5947\u602a\uff0c\u6211\u6700\u559c\u6b61\u7684\u8cc7\u7522\u985e\u5225\u662f\u65e9\u671f\u6280\u8853\u6295\u8cc7\u3002 \u5b83\u662f\u70ba\u6578\u4e0d\u591a\u7684\u80fd\u5920\u5be6\u73fe\u771f\u6b63\u589e\u9577\u7684\u7d93\u6fdf\u90e8\u9580\u4e4b\u4e00\uff0c\u5728\u9019\u4e9b\u9818\u57df\u4e2d\uff0c\u516c\u53f8\u53ef\u4ee5\u975e\u5e38\u8fc5\u901f\u5730\u589e\u9577\u3002 \u540c\u6642\uff0c\u7531\u65bc\u98a8\u96aa\u57fa\u91d1\u7684\u7d93\u6fdf\u6027\uff0c\u5b83\u5011\u6bcf\u5e74\u6536\u53d62%\u7684\u7ba1\u7406\u8cbb\u548c20%\u7684\u5229\u6f64\uff0c\u6700\u512a\u79c0\u7684\u6295\u8cc7\u8005\u6709\u52d5\u529b\u7c4c\u96c6\u66f4\u5927\u7684\u8cc7\u91d1\u4e26\u6295\u8cc7\u65bc\u5f8c\u671f\u4ea4\u6613\u3002 \u4f60\u4e0d\u80fd\u75283000\u842c\u52305000\u842c\u7f8e\u5143\u7684\u57fa\u91d1\u771f\u6b63\u8cfa\u9322\u3002 \u65e9\u671f\u57fa\u91d1\u7684\u7d93\u6fdf\u5b78\u53ea\u6709\u5728\u60a8\u6295\u8cc7\u5927\u91cf\u500b\u4eba\u8cc7\u91d1\u6642\u624d\u6709\u6548\uff0c\u60a8\u53ef\u4ee5\u7372\u5f97 100% \u7684\u5229\u6f64\u800c\u4e0d\u662f 20%\u3002 \u56e0\u6b64\uff0c\u5728YC\u4e4b\u5916\uff0c\u65e9\u671f\u6295\u8cc7\u4e26\u4e0d\u662f\u4e00\u500b\u6975\u5177\u7af6\u722d\u529b\u7684\u8cc7\u7522\u985e\u5225\u3002 \u5728FJ Labs\uff0c\u6211\u5011\u4e3b\u8981\u8207\u6bcf\u5e74\u505a\u5e7e\u7b46\u4ea4\u6613\u7684\u4e0d\u592a\u6210\u719f\u7684\u5929\u4f7f\u6295\u8cc7\u4eba\u7af6\u722d\u3002 \u6700\u597d\u7684\u6295\u8cc7\u8005\u662fA16Z\u3001Sequoia\u6216Greylock\u7684\u5f8c\u671f\u4ea4\u6613\u3002<\/p>\n<p>\u5728\u67d0\u7a2e\u7a0b\u5ea6\u4e0a\uff0c\u65e9\u671f\u6295\u8cc7\u8207\u5176\u8aaa\u662f\u8003\u616e\u5230\u672a\u4f86\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u4e0d\u5982\u8aaa\u662f\u70ba\u4e86\u907f\u514d\u7cdf\u7cd5\u7684\u6295\u8cc7\u3002 \u5c07\u5176\u8207\u81f3\u5c11 50 \u9805\u6295\u8cc7\u7684\u975e\u5e38\u591a\u6a23\u5316\u7684\u6295\u8cc7\u7d44\u5408\u76f8\u7d50\u5408\uff0c\u60a8\u53ef\u4ee5\u7522\u751f\u8c50\u539a\u7684\u56de\u5831\u3002 \u5728\u904e\u53bb\u768419\u5e74\u88e1\uff0c\u6211\u5728\u9019\u500b\u8cc7\u7522\u985e\u5225\u4e2d\u5e73\u5747\u7522\u751f\u4e8670%\u7684\u5167\u90e8\u6536\u76ca\u7387\u548c6.3\u500d\u7684\u500d\u6578\uff0c\u8aa0\u7136\uff0c\u5f9e\u975e\u5e38\u5c0f\u7684\u8cc7\u7522\u57fa\u790e\u958b\u59cb\u3002 \u5728\u6642\u9593\u548c\u516c\u53f8\u6578\u91cf\u65b9\u9762\u5be6\u73fe\u591a\u5143\u5316\u975e\u5e38\u91cd\u8981\u3002 \u6295\u8cc7\u8d85\u904e2-3\u5e74\u3002 \u5982\u679c\u60a8\u6c92\u6709\u4ea4\u6613\u6d41\u7a0b\uff0c\u63a5\u89f8\u8a72\u8cc7\u7522\u985e\u5225\u7684\u6700\u7c21\u55ae\u65b9\u6cd5\u662f\u6295\u8cc7\u591a\u516c\u53f8\u57fa\u91d1\uff0c\u4f8b\u5982 <a href=\"http:\/\/www.fundersclub.com\" target=\"_blank\" rel=\"noopener noreferrer\">FundersClub<\/a> \u4e0a\u7684\u57fa\u91d1\u3002 \u60a8\u4e5f\u53ef\u4ee5\u6295\u8cc7\u65bc\u55ae\u500b\u4ea4\u6613\uff0c\u4f46\u986f\u7136\u5728\u55ae\u500b\u4ea4\u6613\u4e2d\u7684\u6295\u5165\u6bd4\u5728\u57fa\u91d1\u4e2d\u7684\u6295\u5165\u8981\u5c11\u5f97\u591a\u3002 \u53e6\u8acb\u6ce8\u610f\uff0c\u9019\u4e9b\u4e0d\u662f\u50b3\u7d71\u57fa\u91d1\u3002 \u53ea\u6709\u4e00\u500b\u524d\u671f\u8cc7\u672c\u8abf\u7528\uff0c\u4ed6\u5011\u4e0d\u6703\u6309\u6bd4\u4f8b\u4fdd\u7559\u8cc7\u91d1\uff0c\u9019\u610f\u5473\u8457\u7576\u4ed6\u5011\u7528\u5b8c\u8cc7\u91d1\u6642\uff0c\u4ed6\u5011\u6703\u505a\u53e6\u4e00\u96bb\u57fa\u91d1\u3002 \u5982\u679c\u60a8\u60f3\u6295\u8cc7\uff0c\u8acb\u5c07\u60a8\u60f3\u8981\u6295\u8cc7\u7684\u57fa\u91d1\u5206\u914d\u5206\u6210\u4e0d\u540c\u7684\u90e8\u5206\uff0c\u4ee5\u4fbf\u5728 2-3 \u5e74\u5de6\u53f3\u7684\u6642\u9593\u91cc\u63a5\u89f8\u591a\u96bb\u57fa\u91d1\u3002<\/p>\n<p>II\u9084\u5c07\u4ee5\u66f4\u96c6\u4e2d\u7684\u65b9\u5f0f\u5c07\u5c11\u91cf\u8cc7\u91d1\u6295\u8cc7\u65bc\u4e00\u4e9bIPO\u524d\u7684\u516c\u53f8\uff0c\u5982Airbnb\u3002 \u4f60\u4e0d\u6703\u8cfa\u5230 10 \u500d\uff0c\u4f46\u9019\u662f\u5728\u5e7e\u5e74\u5167\u8cfa\u5230 1.5 \u2013 3 \u500d\u4e26\u7372\u5f97\u51fa\u8272 IRR \u7684\u597d\u65b9\u6cd5\u3002 \u4f60\u4e0d\u61c9\u8a72\u6295\u8cc7\u300c\u6295\u6a5f\u6027\u7368\u89d2\u7378\u300d\uff0c\u5373\u64c1\u6709\u6578\u5341\u5104\u7f8e\u5143\u4f30\u503c\u7684\u65e9\u671f\u516c\u53f8\uff0c\u800c\u61c9\u8a72\u6295\u8cc7\u65bc\u66f4\u6210\u719f\u7684\u521d\u5275\u516c\u53f8\uff0c\u9019\u4e9b\u521d\u5275\u516c\u53f8\u5728IPO\u7684\u9053\u8def\u4e0a\u64c1\u6709\u6709\u6548\u7684\u5546\u696d\u6a21\u5f0f\u3002 Airbnb\u662f\u76ee\u524d\u6700\u597d\u7684\u4f8b\u5b50\u3002<\/p>\n<p>\u6211\u5efa\u8b70\u6301\u6709\u5f88\u5927\u4e00\u90e8\u5206\uff0c\u5360\u4f60\u51c8\u8cc7\u7522\u768420-30%\u662f\u73fe\u91d1\u3002 \u9280\u884c\u5bb6\u5011\u8a0e\u53ad\u9019\u4e00\u9ede\uff0c\u56e0\u70ba\u4ed6\u5011\u8a8d\u70ba\u6211\u5011\u628a\u9322\u7559\u5728\u4e86\u684c\u5b50\u4e0a\u3002 \u4f46\u662f\uff0c\u5728\u4f4e\u5229\u7387\u74b0\u5883\u4e2d\u8ffd\u9010\u7522\u91cf\u901a\u5e38\u5c31\u50cf\u5728\u84b8\u6c7d\u58d3\u8def\u6a5f\u524d\u64bf\u4fbf\u58eb\u4e00\u6a23\u3002 \u9452\u65bc\u6536\u76ca\u7387\u548c\u901a\u8ca8\u81a8\u8139\u7387\u6709\u591a\u4f4e\uff0c\u6700\u597d\u4fdd\u7559\u73fe\u91d1\u3002 \u6a5f\u6703\u6210\u672c\u975e\u5e38\u4f4e\uff0c\u5b83\u901a\u904e\u4ee5\u5927\u5e45\u6298\u6263\u8cfc\u8cb7\u512a\u8cea\u8cc7\u7522\uff0c\u5728\u5371\u6a5f\u6642\u671f\u63d0\u4f9b\u4e86\u7372\u5f97\u9ad8\u56de\u5831\u7684\u7d55\u4f73\u6a5f\u6703\u3002 \u8acb\u6ce8\u610f\uff0c\u8981\u505a\u5230\u9019\u4e00\u9ede\uff0c\u4f60\u9700\u8981\u4e00\u7a2e\u9006\u5411\u7684\u6c23\u8cea\u3002 \u7576\u4eba\u5011\u5bb3\u6015\u4e26\u4e14\u770b\u8d77\u4f86\u4e16\u754c\u5373\u5c07\u7d50\u675f\u6642\uff0c\u4f60\u9700\u8981\u9858\u610f\u8cfc\u8cb7\u3002 \u60a8\u9084\u61c9\u8a72\u4f7f\u7528\u90e8\u5206\u73fe\u91d1\u70ba\u60a8\u7684\u4e0b\u4e00\u500b\u5275\u696d\u516c\u53f8\u63d0\u4f9b\u7a2e\u5b50\u8cc7\u91d1\u3002 \u524d 50 \u842c\u7f8e\u5143 &#8211; 100 \u842c\u7f8e\u5143\u662f\u60a8\u53ef\u4ee5\u7372\u5f97\u7684\u6700\u6602\u8cb4\u548c\u6700\u7a00\u91cb\u7684\u8cc7\u672c\u3002 \u5982\u679c\u4f60\u80fd\u907f\u514d\u63d0\u9ad8\u5b83\uff0c\u90a3\u5c31\u66f4\u597d\u4e86\u3002 \u4f46\u662f\uff0c\u8acb\u78ba\u4fdd\u60a8\u4ecd\u7136\u52e4\u596e\u5730\u9032\u884c\u60f3\u6cd5\u7522\u751f\u904e\u7a0b\u548c\u555f\u52d5\u7684\u57f7\u884c\u3002 \u5c0d\u65bc\u5927\u591a\u6578\u4eba\u4f86\u8aaa\uff0c\u6211\u4e0d\u5efa\u8b70\u5728\u4ed6\u5011\u7684\u4e0b\u4e00\u6b21\u5275\u696d\u4e2d\u5c07\u8d85\u904e10%\u7684\u98a8\u96aa\u7f6e\u65bc\u98a8\u96aa\u4e4b\u4e2d\u3002<\/p>\n<p>\u8209\u500b\u4f8b\u5b50\uff0c\u5982\u679c\u4f60\u525b\u525b\u8cfa\u4e861000\u842c\u7f8e\u5143\u7684\u6de8\u7a05\uff0c\u60f3\u64c1\u6709\u81ea\u5df1\u7684\u623f\u5b50\u4e26\u9075\u5faa\u4e0a\u8ff0\u7b56\u7565\uff0c\u4f60\u53ef\u4ee5\u6309\u4ee5\u4e0b\u65b9\u5f0f\u90e8\u7f72\u5b83\uff1a<\/p>\n<p><strong>\u8cfc\u8cb7\u50f9\u503c400\u842c\u7f8e\u5143\u7684\u516c\u5bd3<\/strong><\/p>\n<ul>\n<li>\u4ee5 3.5% \u7684\u5229\u7387\u501f\u5165 400 \u842c\u7f8e\u5143\u4e2d\u7684 300 \u842c\u7f8e\u5143\uff0c\u70ba\u671f 30 \u5e74\u3002<\/li>\n<li>\u60a8\u53ef\u4ee5\u5f9e\u7a05\u6b3e\u4e2d\u6263\u9664\u5229\u606f\u652f\u4ed8<\/li>\n<li>\u51c8\u503c\uff1a\u60a8\u73fe\u5728\u4ecd\u6709 900 \u842c\u7f8e\u5143\u7684\u73fe\u91d1<\/li>\n<\/ul>\n<p><strong>\u6295\u8cc7250\u842c\u7f8e\u5143\u7528\u65bc\u5275\u6536\u623f\u5730\u7522<\/strong><\/p>\n<ul>\n<li>\u9019\u662f\u60a8\u7684\u300c\u5b89\u5168\u300d\u6295\u8cc7\uff0c\u61c9\u8a72\u6295\u8cc7\u65bc\u591a\u500b\u5730\u5340\u7684\u8a31\u591a\u623f\u7522<\/li>\n<li>T\u65e8\u5728\u7522\u751f\u73fe\u91d1\u3002 \u60a8\u8ffd\u6c42\u7684\u51c8\u4e0a\u9650\u7387\u70ba 6-13%\uff0c\u901a\u904e\u6709\u6548\u7684\u77ed\u671f\u79df\u8cc3\u7b56\u7565\uff0c\u51c8\u4e0a\u9650\u7387\u53ef\u80fd\u9ad8\u9054 25%<\/li>\n<li>\u60a8\u73fe\u5728\u6709 650 \u842c\u7f8e\u5143\u7684\u73fe\u91d1<\/li>\n<\/ul>\n<p><strong>\u5411\u65e9\u671f\u5275\u696d\u516c\u53f8\u6295\u8cc7 250 \u842c\u7f8e\u5143<\/strong><\/p>\n<ul>\n<li>\u60a8\u9700\u8981\u6295\u8cc7\u81f3\u5c11 50 \u5bb6\u521d\u5275\u516c\u53f8\u624d\u80fd\u4f7f\u5176\u767c\u63ee\u4f5c\u7528<\/li>\n<li>\u9019\u5c07\u70ba\u60a8\u63d0\u4f9b\u591a\u5143\u5316\u7684\u6295\u8cc7\u7d44\u5408<\/li>\n<li>\u8981\u505a\u5230\u9019\u4e00\u9ede\uff0c\u6700\u7c21\u55ae\u7684\u65b9\u6cd5\u53ef\u80fd\u5c31\u662f\u652f\u63f4\u591a\u516c\u53f8\u57fa\u91d1\uff0c\u6bd4\u5982<a href=\"https:\/\/fundersclub.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">FundersClub<\/a>\u4e0a\u7684\u57fa\u91d1<\/li>\n<li>\u6211\u53ef\u80fd\u6703\u6295\u516550\u842c\u7f8e\u5143\/\u57fa\u91d1<\/li>\n<li>\u4f60\u9084\u61c9\u8a72\u6295\u8cc7\u65bc\u4f60\u770b\u5230\u7684\u670b\u53cb\u7684\u5f88\u9177\u7684\u4ea4\u6613\uff0c\u4f60\u76f8\u4fe1\u9019\u4e9b\u4ea4\u6613<\/li>\n<li>\u60a8\u73fe\u5728\u6709 400 \u842c\u7f8e\u5143\u7684\u73fe\u91d1\u2014\u2014\u8acb\u6ce8\u610f\uff0c\u6295\u8cc7\u662f\u96a8\u8457\u6642\u9593\u7684\u63a8\u79fb\u800c\u5b8c\u6210\u7684\uff0c\u4f46\u6700\u597d\u5728\u60a8\u7684\u8166\u6d77\u4e2d\u201c\u5206\u914d\u201d\u8cc7\u91d1\uff0c\u5373\u4f7f\u60a8\u7684\u7b2c\u4e00\u5f35\u652f\u7968\u53ea\u6709 50 \u842c\u7f8e\u5143\u3002<\/li>\n<\/ul>\n<p><strong>\u5411\u5f8c\u671f\u5275\u696d\u516c\u53f8\u6295\u8cc7100\u842c\u7f8e\u5143<\/strong><\/p>\n<ul>\n<li>\u6211\u767c\u73fe\u9019\u662f\u4ee5\u76f8\u5c0d\u5b89\u5168\u7684\u65b9\u5f0f\u88fd\u4f5c 2-3 \u500d\u7684\u6700\u7c21\u55ae\u65b9\u6cd5<\/li>\n<li>\u6211\u901a\u5e38\u5728IPO\u524d\u76842\u5e74\u6295\u8cc7Airbnb\uff0cCoupang\u7b49\u521d\u5275\u516c\u53f8\u3002<\/li>\n<li>\u8acb\u6ce8\u610f\uff0c\u60a8\u901a\u5e38\u5fc5\u9808\u958b\u51fa\u6bcf\u5f35 25 \u842c\u7f8e\u5143\u7684\u66f4\u5927\u652f\u7968<\/li>\n<li>\u7576\u6211\u770b\u5230\u5b83\u5011\u6642\uff0c\u6211\u53ef\u4ee5\u9080\u8acb\u60a8\u53c3\u52a0\u4ea4\u6613<\/li>\n<li>\u4f60\u73fe\u5728\u6709 300 \u842c\u7f8e\u5143\u7684\u73fe\u91d1\u2014\u2014\u4f46\u4f60\u53c8\u628a\u5927\u90e8\u5206\u73fe\u91d1\u4fdd\u7559\u4e86\u5f88\u9577\u6642\u9593<\/li>\n<\/ul>\n<p><strong>\u4fdd\u7559300\u842c\u7f8e\u5143\u73fe\u91d1<\/strong><\/p>\n<ul>\n<li>\u5b83\u8cfa 0 \u7f8e\u5143\uff0c\u4f46\u5f88\u5b89\u5168<\/li>\n<li>\u5b83\u70ba\u60a8\u63d0\u4f9b\u4e86\u6295\u8cc7\u6a5f\u6703\uff0c\u4ee5\u9632\u60a8\u9047\u5230\u6a5f\u6703\uff1a\u6709\u4eba\u6025\u9700\u73fe\u91d1\uff0c\u5982\u679c\u60a8\u73fe\u5728\u7d66\u4ed6\u73fe\u91d1\uff0c\u4ed6\u9858\u610f\u51fa\u552e 50% \u7684\u6298\u6263\uff0c\u60a8\u53ef\u4ee5\u5728\u91cd\u5927\u8abf\u6574\u540e\u5ec9\u50f9\u8cfc\u8cb7\u512a\u8cea\u80a1\u7968\u7b49\u3002<\/li>\n<li>\u4f60\u53ef\u4ee5\u70ba\u4f60\u7684\u4e0b\u4e00\u500b\u5275\u696d\u516c\u53f8\u63d0\u4f9b\u524d100\u842c\u7f8e\u5143\uff0c\u4e26\u907f\u514d\u7a2e\u5b50\u8f2a\u7684\u75db\u82e6\u548c\u7a00\u91cb<\/li>\n<\/ul>\n<p>\u5982\u679c\u80a1\u7968\u4f30\u503c\u6062\u5fa9\u5230\u5e73\u5747\u6c34\u6e96\uff0c\u6211\u5c07\u628a\u623f\u5730\u7522\u548c\u79d1\u6280\u6295\u8cc7\u5404\u524a\u6e1b50\u842c\u7f8e\u5143\uff0c\u4e26\u5c07100\u842c\u7f8e\u5143\u5206\u914d\u7d66\u975e\u79d1\u6280\u3001\u975e\u91d1\u878d\u3001\u9ad8\u54c1\u8cea\u3001\u9ad8\u80a1\u606f\u7684\u80a1\u7968\u3002<\/p>\n<p>\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0c\u4e0a\u8ff0\u5206\u914d\u61c9\u6839\u64da\u60a8\u7684\u500b\u4eba\u73fe\u91d1\u9700\u6c42\u548c\u51c8\u8cc7\u7522\u800c\u6709\u6240\u4e0d\u540c\u3002 \u5982\u679c\u4f60\u503c 100 \u842c\u7f8e\u5143\uff0c\u5206\u914d\u6703\u5927\u4e0d\u76f8\u540c\u3002 \u76f8\u53cd\uff0c\u5982\u679c\u4f60\u7684\u8eab\u50f9\u66f4\u9ad8\uff0c\u4f60\u61c9\u8a72\u5c07\u8f03\u4f4e\u6bd4\u4f8b\u7684\u51c8\u8cc7\u7522\u7528\u65bc\u4f60\u7684\u4e3b\u8981\u4f4f\u6240\u3002<\/p>\n<p>\u60a8\u7684\u8cc7\u7522\u73fe\u5728\u61c9\u8a72\u662f\u5b89\u5168\u7684\uff0c\u9019\u6a23\u60a8\u5c31\u53ef\u4ee5\u5728\u665a\u4e0a\u7761\u5f97\u66f4\u597d\uff1a\uff09<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6211\u610f\u8b58\u5230\u9019\u7bc7\u535a\u6587\u53ef\u80fd\u770b\u8d77\u4f86\u5f88\u7b28\u62d9\uff0c\u56e0\u70ba\u5b83\u7684\u5167\u5bb9\u53ea\u9069\u7528\u65bc\u6975\u5c11\u6578 &hellip; <a href=\"https:\/\/fabricegrinda.com\/zh-hant\/%e9%9d%9e%e5%82%b3%e7%b5%b1%e7%9a%84%e8%b2%a1%e5%af%8c%e7%ae%a1%e7%90%86%e6%96%b9%e6%b3%95\/\" class=\"more-link\">\u95b1\u8b80\u5168\u6587<span class=\"screen-reader-text\">\u3008\u975e\u50b3\u7d71\u7684\u8ca1\u5bcc\u7ba1\u7406\u65b9\u6cd5\u3009<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":40335,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[758,763,765,767],"tags":[],"class_list":["post-40315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-758","category-763","category-765","category-767"],"acf":[],"contentUpdated":"\u975e\u50b3\u7d71\u7684\u8ca1\u5bcc\u7ba1\u7406\u65b9\u6cd5. Categories - \u7cbe\u9078\u6587\u7ae0, \u500b\u4eba\u6c89\u601d, \u5546\u696d\u601d\u8003, \u6c89\u601d. Date-Posted - 2017-06-19T14:57:36 . \u6211\u610f\u8b58\u5230\u9019\u7bc7\u535a\u6587\u53ef\u80fd\u770b\u8d77\u4f86\u5f88\u7b28\u62d9\uff0c\u56e0\u70ba\u5b83\u7684\u5167\u5bb9\u53ea\u9069\u7528\u65bc\u6975\u5c11\u6578\u5e78\u904b\u7684\u4f01\u696d\u5bb6\u3002 \u7136\u800c\uff0c\u8003\u616e\u5230\u50b3\u7d71\u6295\u8cc7\u9867\u554f\u63d0\u51fa\u7684\u5927\u91cf\u4e0d\u826f\u5efa\u8b70\uff0c\u4ee5\u53ca\u6211\u652f\u63f4\u7684\u6bcf\u4e00\u4f4d\u6210\u529f\u9000\u51fa\u7684\u4f01\u696d\u5bb6\u90fd\u554f\u6211\u5982\u4f55\u7ba1\u7406\u4ed6\u5011\u7684\u8cc7\u91d1\uff0c\u6211\u89ba\u5f97\u5fc5\u9808\u5beb\u9019\u7bc7\u6587\u7ae0\u3002\n 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