{"id":5480,"date":"2025-02-28T15:08:46","date_gmt":"2025-02-28T07:08:46","guid":{"rendered":"https:\/\/cathayvista.top\/?p=5480"},"modified":"2025-02-28T20:21:04","modified_gmt":"2025-02-28T12:21:04","slug":"tencent-fulltext-zhen","status":"publish","type":"post","link":"https:\/\/cathayvista.top\/index.php\/2025\/02\/28\/tencent-fulltext-zhen\/","title":{"rendered":"\u817e\u8baf \/ Tencent -\uff08\u5168\u6587\uff09\u4e2d\u82f1\u6587\u7ef4\u57fa\u767e\u79d1\u8bcd\u6761\u878d\u5408"},"content":{"rendered":"\n
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\u8fbd\u89c2\u63d0\u4f9b\u7684\u7ffb\u8bd1\u4ec5\u4f9b\u53c2\u8003\u3002\u6587\u4e2d\u53ef\u80fd\u5305\u542b\u65e0\u6cd5\u4ece\u4e2d\u56fd\u5185\u5730\u8bbf\u95ee\u7684\u94fe\u63a5\u3002<\/strong><\/p>\n\u8fbd\u89c2\u6240\u642c\u8fd0\u7684\u8bcd\u6761\u6587\u672c\u4e0e\u7ef4\u57fa\u767e\u79d1\u4e00\u9053\u540c\u6837\u9075\u5faaCC BY-SA 4.0\u534f\u8bae\uff08\u8fbd\u89c2\u642c\u8fd0\u7684\u4e2d\u82f1\u6587\u5bf9\u7167\u7248\u672c<\/a>\uff09\uff0c\u5728\u7b26\u5408\u534f\u8bae\u8981\u6c42\u7684\u60c5\u51b5\u4e0b\u60a8\u53ef\u4ee5\u514d\u8d39\u4f7f\u7528\u5176\u5185\u5bb9\uff08\u5305\u62ec\u5546\u7528\uff09\u3002\u56fe\u7247\u548c\u89c6\u9891\u53ef\u80fd\u9075\u5faa\u4e0d\u540c\u7684\u5171\u4eab\u534f\u8bae\u3002\u8bf7\u70b9\u51fb\u8fd9\u91cc\u8bbf\u95ee<\/a><\/cite><\/blockquote>\n\n\n\n

0. \u6982\u8ff0<\/h2>\n\n\n\n

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\n
\u56fe0-1\u548c0-2\uff08\u53d1\u5e03\u4e8e\u77e5\u4e4e\u60f3\u6cd5\uff09<\/a><\/div>\n<\/div>\n\n\n\n

0.1 \u6587\u5b57\u8bf4\u660e<\/h3>\n\n\n\n

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Tencent Holdings Ltd.<\/strong> (Chinese<\/a>: \u817e\u8baf; pinyin<\/a>: T\u00e9ngx\u00f9n<\/em>) is a Chinese multinational<\/a> technology conglomerate<\/a> and holding company<\/a> headquartered in Shenzhen<\/a>. It is one of the highest grossing multimedia companies in the world based on revenue. It is also the world’s largest company in the video game industry<\/a> based on its equity investments.
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\u817e\u8baf\u63a7\u80a1\u6709\u9650\u516c\u53f8<\/strong>\uff0c\u7b80\u79f0\u817e\u8baf\u516c\u53f8<\/strong>[1]<\/a><\/sup>[2]<\/a><\/sup>\uff0c\u901a\u79f0\u817e\u8baf<\/strong>[2]<\/a><\/sup>\uff0c\u662f\u4e2d\u56fd<\/a>\u4e00\u5bb6\u8de8\u56fd<\/a>\u4f01\u4e1a<\/a>\u63a7\u80a1\u516c\u53f8<\/a>\u30021998\u5e7411\u6708\u7531\u9a6c\u5316\u817e<\/a>\u3001\u5f20\u5fd7\u4e1c<\/a>\u3001\u9648\u4e00\u4e39<\/a>\u3001\u8bb8\u6668\u6654<\/a>\u3001\u66fe\u674e\u9752<\/a>5\u4f4d\u521b\u59cb\u4eba\u5171\u540c\u521b\u7acb\uff0c\u603b\u90e8\u4f4d\u4e8e\u6df1\u5733<\/a>\u5357\u5c71\u533a<\/a>\u817e\u8baf\u6ee8\u6d77\u5927\u53a6<\/a>\u3002\u817e\u8baf\u4e1a\u52a1<\/a>\u62d3\u5c55\u81f3\u793e\u4ea4<\/a>\u3001\u91d1\u878d<\/a>\u3001\u6295\u8d44<\/a>\u3001\u8d44\u8baf<\/a>\u3001\u5de5\u5177<\/a>\u548c\u5e73\u53f0<\/a>\u7b49\u4e0d\u540c\u9886\u57df\uff0c\u5176\u5b50\u516c\u53f8\u4e13\u95e8\u4ece\u4e8b\u5404\u79cd\u5168\u7403\u4e92\u8054\u7f51<\/a>\u76f8\u5173\u670d\u52a1<\/a>\u548c\u4ea7\u54c1<\/a>\u3001\u5a31\u4e50<\/a>\u3001\u4eba\u5de5\u667a\u80fd<\/a>\u548c\u6280\u672f<\/a>\u3002\u76ee\u524d\uff0c\u817e\u8baf\u62e5\u6709\u4e2d\u56fd\u5927\u9646\u4f7f\u7528\u4eba\u6570\u6700\u591a\u7684\u793e\u4ea4\u8f6f\u4ef6<\/a>\u817e\u8bafQQ<\/a>\u548c\u5fae\u4fe1<\/a>\uff0c\u4ee5\u53ca\u6700\u5927\u7684\u7f51\u7edc\u6e38\u620f\u793e\u533a\u817e\u8baf\u6e38\u620f<\/a>\u3002\u5728\u7535\u5b50\u4e66<\/a>\u9886\u57df \uff0c\u65d7\u4e0b\u6709\u9605\u6587\u96c6\u56e2<\/a>\uff0c\u8fd0\u8425\u6709QQ\u9605\u8bfb\u548c\u5fae\u4fe1\u8bfb\u4e66\u3002<\/p>\n\n\n\n

Its twin-skyscraper headquarters, Tencent Seafront Towers<\/a> (also known as Tencent Binhai Mansion) are based in the Nanshan District<\/a> of Shenzhen.[5]<\/a><\/sup> In December 2023, architect B\u00fcro Ole Scheeren unveiled the latest helix-inspired design of Tencent’s new global headquarters in Shenzhen. Known as Tencent Helix, it will accommodate more than 23,000 employees across nearly 500,000 square meters.[6]<\/a><\/sup>
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\u817e\u8baf\u4e8e2004\u5e746\u670816\u65e5\u5728\u9999\u6e2f\u4ea4\u6613\u6240<\/a>\u6302\u724c\u4e0a\u5e02\uff0c\u4e8e2016\u5e749\u67085\u65e5\u9996\u6b21\u6210\u4e3a\u4e9a\u6d32<\/a>\u5e02\u503c\u6700\u9ad8\u7684\u4e0a\u5e02\u516c\u53f8[3]<\/a><\/sup>\uff0c\u5e76\u4e8e2017\u5e7411\u670821\u65e5\u6210\u4e3a\u4e9a\u6d32\u9996\u5bb6\u5e02\u503c\u7a81\u78345000\u4ebf\u7f8e\u5143\u7684\u516c\u53f8[4]<\/a><\/sup>\u30022017\u5e74\uff0c\u817e\u8baf\u9996\u6b21\u8dfb\u8eab\u300a\u8d22\u5bcc\u300b\u6742\u5fd7\u4e16\u754c500\u5f3a\u6392\u884c\u699c\uff0c\u4ee5228.7\u4ebf\u7f8e\u5143\u7684\u8425\u6536\u4f4d\u5c45478\u4f4d[5]<\/a><\/sup>\u30022021\u5e74\u817e\u8baf\u56e0\u8d22\u4ed8\u901a<\/a>\u4e1a\u52a1\uff0c\u4e5f\u53d7\u5230\u4e86\u56fd\u5bb6\u91d1\u878d\u673a\u6784\u7684\u76d1\u7ba1\u98ce\u66b4\u5f71\u54cd\uff0c\u4e00\u5ea6\u88ab\u91cd\u7f5a\u80a1\u4ef7\u5927\u8dcc\uff0c\u76f4\u52302023\u5e74\u6574\u987f\u5b8c\u6210\u540e\u624d\u91cd\u56de\u4e16\u754c\u5341\u5927[6]<\/a><\/sup>\u3002<\/p>\n\n\n\n

Tencent is the world’s largest video game vendor<\/a>,[7]<\/a><\/sup> as well as one of the largest companies in the world by market capitalization<\/a>.[8]<\/a><\/sup> It is among the largest social media<\/a>,[9]<\/a><\/sup> venture capital<\/a>, and investment corporations<\/a>.[10]<\/a>[11]<\/a><\/sup> Its services include social networks, music, web portals, e-commerce<\/a>, mobile games, internet services, payment systems, smartphones, and multiplayer online games.[12]<\/a><\/sup> It operates the instant messengers<\/a> Tencent QQ<\/a> and WeChat<\/a>, along with the news site QQ.com.[13]<\/a><\/sup> The company surpassed a market value of US$500\u00a0billion in 2018, becoming the first Asian technology company to cross this valuation mark.[14]<\/a>[15]<\/a>[16]<\/a><\/sup>
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It has since then emerged as the most valuable publicly traded company in China, and is the world’s tenth most valuable company by market value as of February 2022.[17]<\/a>[18]<\/a>[19]<\/a>[20]<\/a><\/sup> In 2015, 2018, and 2020, the company was ranked by Boston Consulting Group<\/a> and Fast Company<\/em><\/a> among the 50 most innovative companies worldwide.[21]<\/a>[22]<\/a>[23]<\/a><\/sup> Tencent has stakes<\/a> in over 600 companies,[24]<\/a><\/sup> and began focusing on tech start-ups in Asia in 2017.[25]<\/a><\/sup> TechCrunch<\/a> characterized Tencent’s investment strategy as letting its portfolio startups operate autonomously.[26]<\/a><\/sup> Tencent’s valuation approached US$1\u00a0trillion in January 2021 before it plummeted.[27]<\/a><\/sup> Tencent Holdings was ranked 35th on the 2023 Forbes<\/em> Global 2000<\/a> list.[28]<\/a><\/sup>
\u3010\u53c2\u8003\u8bd1\u6587\u3011\u81ea\u6b64\u4e4b\u540e\uff0c\u817e\u8baf\u6210\u4e3a\u4e2d\u56fd\u5e02\u503c\u6700\u9ad8\u7684\u4e0a\u5e02\u516c\u53f8\uff0c\u622a\u81f32022\u5e742\u6708\uff0c\u6309\u5e02\u503c\u8ba1\u7b97\uff0c\u5b83\u662f\u5168\u7403\u7b2c\u5341\u5927\u6700\u6709\u4ef7\u503c\u7684\u516c\u53f8\u3002[17][18][19][20]2015\u5e74\u30012018\u5e74\u548c2020\u5e74\uff0c\u6ce2\u58eb\u987f\u54a8\u8be2\u516c\u53f8\uff08Boston Consulting Group\uff09\u548c\u300a\u5feb\u516c\u53f8\u300b\uff08Fast Company\uff09\u5c06\u817e\u8baf\u8bc4\u4e3a\u5168\u7403\u6700\u5177\u521b\u65b0\u529b\u768450\u5bb6\u516c\u53f8\u4e4b\u4e00\u3002[21][22][23]\u817e\u8baf\u62e5\u6709600\u591a\u5bb6\u516c\u53f8\u7684\u80a1\u4efd\uff0c[24]\u5e76\u81ea2017\u5e74\u8d77\u5f00\u59cb\u4e13\u6ce8\u4e8e\u6295\u8d44\u4e9a\u6d32\u7684\u79d1\u6280\u521d\u521b\u4f01\u4e1a\u3002[25]\u300a\u79d1\u6280\u521b\u4e1a\u300b\uff08TechCrunch\uff09\u5c06\u817e\u8baf\u7684\u6295\u8d44\u7b56\u7565\u63cf\u8ff0\u4e3a\u8ba9\u5176\u6295\u8d44\u7ec4\u5408\u4e2d\u7684\u521d\u521b\u4f01\u4e1a\u81ea\u4e3b\u8fd0\u8425\u3002[26]2021\u5e741\u6708\uff0c\u817e\u8baf\u7684\u4f30\u503c\u63a5\u8fd11\u4e07\u4ebf\u7f8e\u5143\uff0c\u968f\u540e\u5927\u5e45\u4e0b\u8dcc\u3002[27]\u57282023\u5e74\u300a\u798f\u5e03\u65af\u300b\u5168\u74032000\u5f3a\u699c\u5355\u4e2d\uff0c\u817e\u8baf\u63a7\u80a1\u6392\u540d\u7b2c35\u4f4d\u3002[28]<\/p>\n\n\n\n

2025\u5e741\u6708\uff0c\u7f8e\u56fd\u56fd\u9632\u90e8\u8ba4\u5b9a\u817e\u8baf\u6d89\u5acc\u4e0e\u519b\u4e8b\u5b58\u5728\u8054\u7cfb\uff0c\u88ab\u5217\u5165\u4e2d\u56fd\u519b\u4e8b\u516c\u53f8\u9ed1\u540d\u5355\uff0c\u5bfc\u81f4\u817e\u8baf\u7f8e\u80a1\u4e0b\u8dcc7.8%[7]<\/a><\/sup>\u3002\u817e\u8baf\u8463\u4e8b\u957f\u9a6c\u5316\u817e\u58f0\u660e\u79f0\uff0c\u5c06\u4e0e\u7f8e\u56fd\u9632\u90e8\u8fdb\u884c\u8ba8\u8bba\uff0c\u5fc5\u8981\u65f6\u91c7\u53d6\u6cd5\u5f8b\u8bc9\u8bbc\u624b\u6bb5[8]<\/a><\/sup>\u3002<\/p>\n\n\n\n

\u9999\u6e2f\u8d22\u7ecf\u754c\u628a\u963f\u91cc\u5df4\u5df4<\/a>\u3001\u817e\u8baf\u3001\u7f8e\u56e2\u70b9\u8bc4<\/a>\u3001\u5c0f\u7c73<\/a>\u56db\u53ea\u4e2d\u56fd\u5927\u9646\u79d1\u6280\u80a1\u7684\u82f1\u6587\u540d\u79f0\u9996\u4e2a\u5b57\u6bcd\uff0c\u5408\u79f0\u201cATMX\u201d\u80a1\u4efd\u3002[9]<\/a><\/sup><\/p>\n\n\n\n

0.2 \u6982\u51b5\u8868\u683c<\/h3>\n\n\n\n

\u8fbd\u89c2\u6ce8\uff1a\u6b64\u6807\u9898\u662f\u6211\u4eec\u5728\u642c\u8fd0\u3001\u6574\u5408\u8fc7\u7a0b\u4e2d\u6dfb\u52a0\u7684\u3002<\/p>\n\n\n\n

\u516c\u53f8\u7c7b\u578b<\/a><\/th>\u6c11\u8425\u4f01\u4e1a<\/a>
\u4e0a\u5e02\u516c\u53f8<\/a><\/td><\/tr>
\u80a1\u7968\u4ee3\u53f7<\/a><\/th>\u6e2f\u4ea4\u6240<\/a>\uff1a700<\/a>\uff08\u84dd\u7b79\u80a1<\/a>\uff09
\u6e2f\u4ea4\u6240<\/a>\uff1a80700<\/a>\uff08\u4eba\u6c11\u5e01\u7ed3\u7b97\uff09<\/td><\/tr>
ISIN<\/a><\/th>KYG875721634<\/a><\/td><\/tr>
\u6210\u7acb<\/th>1998\u5e7411\u670811\u65e5\uff0c\u200b26\u5e74\u524d<\/td><\/tr>
\u521b\u529e\u4eba<\/a><\/th>\u9a6c\u5316\u817e<\/a>\u3001\u5f20\u5fd7\u4e1c<\/a>\u3001\u8bb8\u6668\u6654<\/a>\u3001\u9648\u4e00\u4e39<\/a>\u3001\u66fe\u674e\u9752<\/a><\/td><\/tr>
\u4ee3\u8868\u4eba\u7269<\/th>\u9a6c\u5316\u817e<\/a>\uff08\u4e3b\u5e2d\u517c\u9996\u5e2d\u6267\u884c\u5b98\uff09
\u5218\u70bd\u5e73<\/a>\uff08\u603b\u88c1\uff09<\/td><\/tr>
\u603b\u90e8<\/th>\"\" \u4e2d\u534e\u4eba\u6c11\u5171\u548c\u56fd<\/a>\u5e7f\u4e1c\u7701<\/a>\u6df1\u5733\u5e02<\/a>\u5357\u5c71\u533a\u6d77\u5929\u4e8c\u8def33\u53f7\u817e\u8baf\u6ee8\u6d77\u5927\u53a6<\/a><\/td><\/tr>
\u6807\u8bed\u53e3\u53f7<\/th>\u5229\u7528\u4e92\u8054\u7f51\u6539\u5584\u751f\u6d3b\u54c1\u8d28<\/td><\/tr>
\u4ea7\u4e1a<\/a><\/th>\u4e92\u8054\u7f51<\/a><\/td><\/tr>
\u670d\u52a1<\/th>\u5373\u65f6\u901a\u8baf<\/a>\u3001\u793e\u4ea4\u7f51\u7edc<\/a>\u3001\u5927\u4f17\u5a92\u4f53<\/a>\u3001\u95e8\u6237\u7f51\u7ad9<\/a>\u3001\u7535\u5b50\u5546\u52a1<\/a>\u3001\u7f51\u9875\u6d4f\u89c8\u5668<\/a>\u3001\u7f51\u7edc\u5b89\u5168\u8f6f\u4ef6\u3001\u7f51\u7edc\u6e38\u620f<\/a>\u5f00\u53d1<\/td><\/tr>
\u8425\u4e1a\u989d<\/a><\/th>\u25b26,090.15\u4ebf\u4eba\u6c11\u5e01\uff082023\/12\uff09<\/td><\/tr>
\u606f\u7a0e\u524d\u5229\u6da6<\/a><\/th>\u25b21,613.24\u4ebf\u4eba\u6c11\u5e01\uff082023\/12\uff09<\/td><\/tr>
\u51c0\u5229\u6da6<\/a><\/th>\u25b21,152.16\u4ebf\u4eba\u6c11\u5e01\uff082023\/12\uff09<\/td><\/tr>
\u603b\u8d44\u4ea7<\/a><\/th>\u25b216,549.7\u4ebf\u4eba\u6c11\u5e01\uff082024\/06\uff09<\/td><\/tr>
\u8d44\u4ea7\u51c0\u503c<\/a><\/th>\u25b29,275.97\u4ebf\u4eba\u6c11\u5e01\uff082024\/06\uff09<\/td><\/tr>
\u6240\u6709\u6743\u8005<\/th>\u9a6c\u5316\u817e<\/a>\u3001\u7c73\u62c9\u5fb7\u56fd\u9645\u63a7\u80a1\u96c6\u56e2\u3001\u6469\u6839\u5927\u901a<\/a>\u3001\u7eb3\u65af\u5e15\u65af<\/a> <\/a><\/td><\/tr>
\u5458\u5de5\u4eba\u6570<\/th>85,858\u4eba\uff082020\u5e74\u5168\u5e74\uff09<\/td><\/tr>
\u4e3b\u8981\u80a1\u4e1c<\/th>\u7eb3\u65af\u5e15\u65af<\/a>\uff0823.99%\uff0922.24\u4ebf\u80a1\uff08\u65e0\u6295\u7968\u6743\u80a1\u4efd\uff09
\u9a6c\u5316\u817e<\/a>\uff088.39%\uff098.04859700\u4ebf\u80a1
\u6469\u6839\u5927\u901a<\/a>\uff084.95%\uff09
\u9886\u822a\u6295\u8d44<\/a>\uff082.44%\uff09
\u8d1d\u83b1\u5fb7<\/a>\uff081.97%\uff09
\u7f8e\u56fd\u8d44\u4ea7\u96c6\u56e2<\/a>\uff081.21%\uff09
\u5218\u70bd\u5e73<\/a>\uff080.56%\uff090.53390021\u4ebf\u80a1<\/td><\/tr>
ASN<\/a><\/td>132203<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

1. \u5386\u53f2 | History<\/h2>\n\n\n\n

1.1 1998-2010\u5e74\uff1a\u521b\u7acb\u4e0e\u6210\u957f | 1998\u20132010: Founding and growth<\/h3>\n\n\n\n
\n
\u56fe1-1\u548c1-2\uff08\u53d1\u5e03\u4e8e\u77e5\u4e4e\u60f3\u6cd5\uff09<\/a><\/div>\n<\/div>\n\n\n\n

1.1.1 \u4e0a\u5e02\u524d<\/h4>\n\n\n\n

\u9a6c\u5316\u817e<\/a>\u4e8e1984\u5e74\u968f\u5bb6\u4eba\u4ece\u6d77\u5357<\/a>\u79fb\u5c45\u6df1\u5733<\/a>\uff0c14\u5e74\u540e\u76841998\u5e7411\u6708\uff0c\u4ed6\u548c\u5176\u4ed6\u56db\u4f4d\u8054\u5408\u521b\u59cb\u4eba\u4e00\u8d77\u521b\u7acb\u817e\u8baf\u3002\u6b21\u5e742\u6708\uff0c\u5373\u65f6\u901a\u8baf<\/a>\u8f6f\u4ef6\u201cOICQ<\/a>\u201d\u8bde\u751f[10]<\/a><\/sup>\u3002OICQ\u539f\u672c\u662f\u5229\u7528\u4e2d\u56fd\u7535\u4fe1<\/a>\u6df1\u5733\u5206\u516c\u53f8\u7684\u8d44\u91d1\u548c\u670d\u52a1\u5668\u8d44\u6e90\u5f00\u53d1\uff0c\u5e76\u63d0\u4f9b\u7ed9\u4e2d\u56fd\u7535\u4fe1\u4f7f\u7528\uff0c\u540e\u817e\u8baf\u53d1\u73b0\u6b64\u8f6f\u4ef6\u7684\u6f5c\u529b\uff0c\u901a\u8fc7\u4e0e\u4e2d\u56fd\u7535\u4fe1\u7684\u4ea4\u6d89\u540e\u6536\u56de\u6b64\u8f6f\u4ef6\u7684\u4f7f\u7528\u6743\u3002[11]<\/a><\/sup><\/p>\n\n\n\n

Tencent was founded by Pony Ma<\/a>, Zhang Zhidong<\/a>, Xu Chenye, Charles Chen<\/a> and Zeng Liqing in November 1998[29]<\/a><\/sup> as Tencent Inc<\/a>,[30]<\/a><\/sup> in the Cayman Islands<\/a>.[31]<\/a><\/sup> The name “Tencent” is based on its Chinese name Tengxun (Chinese: \u817e\u8baf), which incorporates part of Pony Ma<\/a>‘s Chinese name (Ma Huateng<\/a>; \u9a6c\u5316\u300c\u817e\u300d) and literally means “galloping fast information”.[32]<\/a>[33]<\/a><\/sup> Initial funding was provided to it by venture capitalists<\/a>.[4]<\/a><\/sup> In February 1999, Tencent’s messenger product OICQ<\/a> was released.[34]<\/a><\/sup> Shortly after, Tencent had the client’s name changed to QQ; this was said to be due to a lawsuit threat from ICQ<\/a> and its owner AOL<\/a>. The company remained unprofitable for the first three years.[29]<\/a><\/sup>
\u3010\u53c2\u8003\u8bd1\u6587\u3011\u8baf\u7531\u9a6c\u5316\u817e\u3001\u5f20\u5fd7\u4e1c\u3001\u8bb8\u6668\u6654\u3001\u9648\u4e00\u4e39\u548c\u66fe\u674e\u9752\u4e8e1998\u5e7411\u6708[29]\u5728\u5f00\u66fc\u7fa4\u5c9b[31]\u521b\u7acb\uff0c\u5f53\u65f6\u540d\u4e3a\u817e\u8baf\u516c\u53f8\uff08Tencent Inc\uff09[30]\u3002\u201c\u817e\u8baf\u201d\u8fd9\u4e2a\u540d\u5b57\u6765\u6e90\u4e8e\u5176\u4e2d\u6587\u540d\u79f0\u201c\u817e\u8baf\u201d\uff08Tengxun\uff09\uff0c\u5176\u4e2d\u5305\u542b\u4e86\u9a6c\u5316\u817e\u4e2d\u6587\u540d\uff08\u9a6c\u5316\u817e\uff1b\u300c\u817e\u300d\u5b57\uff09\u7684\u4e00\u90e8\u5206\uff0c\u5b57\u9762\u610f\u601d\u662f\u201c\u5954\u817e\u4e0d\u606f\u7684\u4fe1\u606f\u201d\u3002[32][33]\u817e\u8baf\u7684\u521d\u59cb\u8d44\u91d1\u7531\u98ce\u9669\u6295\u8d44\u5bb6\u63d0\u4f9b\u3002[4]1999\u5e742\u6708\uff0c\u817e\u8baf\u7684\u5373\u65f6\u901a\u8baf\u4ea7\u54c1OICQ\u53d1\u5e03\u3002[34]\u4e0d\u4e45\u540e\uff0c\u817e\u8baf\u5c06\u5ba2\u6237\u7aef\u540d\u79f0\u66f4\u6539\u4e3aQQ\uff1b\u636e\u8bf4\u8fd9\u662f\u56e0\u4e3a\u5373\u65f6\u901a\u8baf\u8f6f\u4ef6ICQ\u53ca\u5176\u6240\u6709\u8005\u7f8e\u56fd\u5728\u7ebf\uff08AOL\uff09\u7684\u8bc9\u8bbc\u5a01\u80c1\u3002\u516c\u53f8\u5728\u6210\u7acb\u7684\u524d\u4e09\u5e74\u4e00\u76f4\u5904\u4e8e\u4e8f\u635f\u72b6\u6001\u3002[29]<\/p>\n\n\n\n

\u9a6c\u5316\u817e\u539f\u8ba1\u5212\u662f\u63d0\u4f9b\u4e00\u9879\u901a\u8fc7\u5bfb\u547c\u673a<\/a>\u8bbf\u95ee\u4fe1\u606f\u7684\u4e92\u8054\u7f51\u670d\u52a1\uff0c\u5e76\u5c06\u6b64\u670d\u52a1\u4f5c\u4e3a\u4ea7\u54c1\u9500\u552e\u7ed9\u5176\u5b83\u516c\u53f8\u3002\u4f46\u5176\u524d\u96c7\u4e3b\u6da6\u8fc5\u901a\u4fe1\u4ee5\u53caTOM.COM<\/a>\u5bf9\u6b64\u4ea7\u54c1\u4e0d\u611f\u5174\u8da3\u3002\u5176\u76c8\u5229\u7684\u91cd\u8981\u6e20\u9053\u4e4b\u4e00\u662f\u9500\u552eOICQ\u53f7\u3002\u8fd9\u65f6\u7f8e\u56fd\u5728\u7ebf<\/a>\u5bf9\u8fd9\u5bb6\u516c\u53f8\u53d1\u51fa\u5f8b\u5e08\u4fe1\u79f0\u5176\u4ea7\u54c1\u540d\u5b57\u4e0e\u65d7\u4e0b\u4ea7\u54c1ICQ<\/a>\u7c7b\u4f3c\u3002\u5176\u540e\u817e\u8baf\u5c06OICQ\u6539\u79f0QQ<\/a>\u3002[11]<\/a><\/sup>\u6b64\u65f6\uff0c\u56fd\u9645\u6570\u636e\u96c6\u56e2<\/a>(IDG)\u548c\u674e\u6cfd\u6977<\/a>\u7684\u76c8\u79d1\u6570\u7801<\/a>\u5206\u522b\u5411\u817e\u8baf\u6295\u8d44220\u4e07\u7f8e\u5143\uff0c\u5404\u5360\u817e\u8baf20%\u80a1\u4efd\uff0c\u9a6c\u5316\u817e\u53ca\u5176\u56e2\u961f\u53ea\u6301\u80a160%\u30022001\u5e746\u6708\uff0c\u79d1\u6280\u80a1\u6ce1\u6cab\u7834\u88c2<\/a>\uff0c\u9999\u6e2f\u76c8\u79d1<\/a>\u4ee51260\u4e07\u7f8e\u5143\u7684\u4ef7\u683c\u5c06\u5176\u6240\u6301\u817e\u8baf\u63a7\u80a120%\u7684\u80a1\u6743\u6089\u6570\u51fa\u552e\u7ed9\u7c73\u62c9\u5fb7\u56fd\u9645\u63a7\u80a1\u96c6\u56e2\u516c\u53f8\uff08MIH\uff09\u3002[11]<\/a><\/sup>MIH\u8fd8\u4eceIDG\u624b\u4e2d\u6536\u8d2d\u4e86\u817e\u8baf\u63a7\u80a113%\u7684\u80a1\u4efd\u3002[12]<\/a><\/sup><\/p>\n\n\n\n

South African media company Naspers<\/a> purchased a 46.5% share of Tencent in 2001.[35]<\/a>[36]<\/a><\/sup> As of 2023, it owns 26.16%[37]<\/a><\/sup> through Prosus<\/a>, which also owns a stake in Tencent’s sister companies, such as OLX<\/a>, VK<\/a>, Trip.com Group<\/a>, Delivery Hero<\/a>, Bykea<\/a>, Meesho<\/a>, Stack Overflow<\/a>, Udemy<\/a>, Codecademy<\/a>, Brainly<\/a> and PayU<\/a>.[3]<\/a><\/sup>
\u3010\u53c2\u8003\u8bd1\u6587\u30112001\u5e74\uff0c\u5357\u975e\u5a92\u4f53\u516c\u53f8\u7eb3\u65af\u5e15\u65af\uff08Naspers\uff09\u6536\u8d2d\u4e86\u817e\u8baf46.5%\u7684\u80a1\u4efd\u3002[35][36]\u622a\u81f32023\u5e74\uff0c\u5b83\u901a\u8fc7\u5b50\u516c\u53f8Prosus\u62e5\u6709\u817e\u8baf26.16%\u7684\u80a1\u4efd\uff0c[37]Prosus\u8fd8\u6301\u6709\u817e\u8baf\u5173\u8054\u516c\u53f8\uff08\u5982OLX\u3001VK\u3001\u643a\u7a0b\u96c6\u56e2\u3001Delivery Hero\u3001Bykea\u3001Meesho\u3001Stack Overflow\u3001Udemy\u3001Codecademy\u3001Brainly\u548cPayU\uff09\u7684\u80a1\u4efd\u3002[3]<\/p>\n\n\n\n

2002\u5e743\u6708\uff0c\u817e\u8bafQQ<\/a>\u6ce8\u518c\u7528\u6237\u6570\u7a81\u78341\u4ebf\u5927\u5173[10]<\/a><\/sup>\u3002\u6b64\u65f6\uff0c\u8fdb\u519b\u4e2d\u6587\u793e\u533a\u7684MSN Messenger<\/a>\u5bf9\u5176\u6784\u6210\u5a01\u80c1\u3002\u817e\u8baf\u501f\u7528\u7c7b\u4f3c\u97e9\u56fd\u793e\u4ea4\u7f51\u7edcCyworld<\/a>\u7684\u8fd0\u4f5c\u6a21\u5f0f\uff0c\u9500\u552e\u865a\u62df\u7269\u54c1\u5982\u4eba\u7269\u5f62\u8c61\u670d\u88c5\u3001\u80cc\u666f\u7b49\uff0c\u6b64\u4ea7\u54c1\u540e\u6765\u6210\u4e3a\u5176\u91cd\u8981\u7684\u6536\u5165\u6765\u6e90\u3002\u9488\u5bf9\u5176\u5bf9\u624bMSN\uff0c\u817e\u8bafQQ<\/a>\u5728\u7cfb\u7edf\u754c\u9762\u4e43\u81f3\u7f51\u7ad9VI\u7b49\u5bf9\u5176\u6a21\u4eff\u3002\u817e\u8bafQQ<\/a>\u4e5f\u66fe\u5f00\u8bbe\u4e13\u5356\u5e97\u9500\u552eQQ\u7cfb\u5217\u5b9e\u4f53\u4ea7\u54c1\u5982\u670d\u88c5\u3001\u94b1\u5305\u7b49\uff0c\u4f46\u540e\u6765\u7ecf\u8425\u4e0d\u5584\u9000\u51fa\u3002[11]<\/a><\/sup><\/p>\n\n\n\n

2002\u5e746\u6708\uff0c\u817e\u8baf\u63a7\u80a1\u5176\u4ed6\u4e3b\u8981\u521b\u59cb\u4eba\u53c8\u5c06\u81ea\u5df1\u6301\u6709\u768413.5%\u7684\u80a1\u4efd\u51fa\u8ba9\u7ed9MIH\uff0c\u817e\u8baf\u7684\u80a1\u6743\u7ed3\u6784\u7531\u6b64\u53d8\u4e3a\u521b\u4e1a\u8005\u536046.3%\u3001MIH\u536046.5%\u3001IDG\u53607.2%\u3002[12]<\/a><\/sup><\/p>\n\n\n\n

2003\u5e748\u6708\uff0c\u817e\u8baf\u63a8\u51faQQ\u6e38\u620f\uff0c\u5e76\u4ee5\u5176VIP\u670d\u52a1\u6536\u53d6\u7528\u6237\u8d39\u7528\u3002<\/p>\n\n\n\n

2003\u5e748\u6708\uff0c\u817e\u8baf\u521b\u4e1a\u56e2\u961f\u5c06IDG\u6240\u6301\u5269\u4f59\u80a1\u6743\u6089\u6570\u8d2d\u56de\uff0c\u5e76\u4eceMIH\u624b\u4e2d\u56de\u8d2d\u5c11\u91cf\u80a1\u6743\uff0c\u7ecf\u8fc7\u80a1\u6743\u7ed3\u6784\u7684\u91cd\u65b0\u8c03\u6574\uff0c\u6700\u7ec8\u5b8c\u6210\u4e86\u4e0a\u5e02\u524dMIH\u4e0e\u521b\u4e1a\u56e2\u961f\u5206\u522b\u6301\u80a150%\u7684\u80a1\u6743\u7ed3\u6784\u3002[12]<\/a><\/sup><\/p>\n\n\n\n

Tencent Holding Ltd was listed on the Hong Kong Stock Exchange<\/a> on 16 June 2004,[30]<\/a><\/sup> and it was added as a Hang Seng Index Constituent Stock<\/a> in 2008.[38]<\/a><\/sup>
\u3010\u53c2\u8003\u8bd1\u6587\u3011\u817e\u8baf\u63a7\u80a1\u6709\u9650\u516c\u53f8\uff08Tencent Holding Ltd\uff09\u4e8e2004\u5e746\u670816\u65e5\u5728\u9999\u6e2f\u8bc1\u5238\u4ea4\u6613\u6240\u4e0a\u5e02\uff0c[30]\u5e76\u4e8e2008\u5e74\u88ab\u7eb3\u5165\u6052\u751f\u6307\u6570\u6210\u5206\u80a1\u3002[38]<\/p>\n\n\n\n

1.1.2 2005\u5e74\u52302010\u5e74<\/h4>\n\n\n\n

\u4e0a\u5e02\u540e\uff0c\u817e\u8baf\u5f00\u59cb\u5176\u4e00\u7cfb\u5217\u7684\u6536\u8d2d\u884c\u52a8\u3002<\/p>\n\n\n\n

2005\u5e743\u670816\u65e5\uff0c\u817e\u8baf\u6536\u8d2dFoxmail<\/a>\u3002[13]<\/a><\/sup><\/p>\n\n\n\n

2010\u5e744\u670812\u65e5\uff0c\u817e\u8baf\u65a5\u8d4423.28\u4ebf\u5143\u5165\u80a1Digital Sky Technologies\uff08DST\uff09\uff0c\u6301\u6709DST\u768410.26\uff05\u7ecf\u6d4e\u6743\u76ca\u53ca0.51\uff05\u603b\u6295\u7968\u6743[14]<\/a><\/sup>\uff1b\u540c\u5e74\u4ee53\u4ebf\u7f8e\u5143\uff08\u7ea619\u4ebf\u5143\u4eba\u6c11\u5e01\uff09\u5165\u80a1\u4e1c\u6b27\u4e92\u8054\u7f51\u516c\u53f8Mail.ru<\/a>\u96c6\u56e2\u8fd18%\u80a1\u6743\uff0c\u85c9\u4ee5\u8fdb\u519b\u4fc4\u8bed\u53ca\u4e1c\u6b27\u7684\u4e92\u8054\u7f51\u5e02\u573a\u30022010\u5e748\u670824\u65e5\uff0c\u817e\u8baf\u65a5\u8d440.6\u4ebf\u7f8e\u5143\u6536\u8d2dDiscuz<\/a>\u5f00\u53d1\u5546\u5317\u4eac\u5eb7\u76db\u521b\u60f3\u516c\u53f8\u3002<\/p>\n\n\n\n

2011\u5e745\u670817\u65e5\u817e\u8baf\u51fa\u8d448440\u4e07\u7f8e\u5143\uff08\u7ea6\u4eba\u6c11\u5e015\u4ebf4900\u4e07\u5143\uff09\u6536\u8d2d\u827a\u9f99\u65c5\u884c\u7f5116%\u80a1\u6743\uff0c\u6210\u4e3a\u827a\u9f99\u7b2c\u4e8c\u5927\u80a1\u4e1c\u3002<\/p>\n\n\n\n

In June 2007, Tencent established its charity foundation, becoming the first Chinese internet company to do so.[41]<\/a><\/sup>
\u3010\u53c2\u8003\u8bd1\u6587\u30112007\u5e746\u6708\uff0c\u817e\u8baf\u6210\u7acb\u4e86\u6148\u5584\u57fa\u91d1\u4f1a\uff0c\u6210\u4e3a\u4e2d\u56fd\u9996\u5bb6\u8fd9\u6837\u505a\u7684\u4e92\u8054\u7f51\u516c\u53f8\u3002[41]<\/p>\n\n\n\n

2007\u5e74\uff0c\u817e\u8baf\u5f00\u59cb\u6d89\u8db3\u5927\u578b\u7f51\u7edc\u6e38\u620f\uff0c\u5e76\u5360\u6709\u4e86\u4e00\u5b9a\u7684\u5e02\u573a\u4efd\u989d\u3002\u6240\u4ee3\u7406\u7684\u7a7f\u8d8a\u706b\u7ebf<\/a>\u548c\u5730\u4e0b\u57ce\u4e0e\u52c7\u58eb<\/a>\u662f\u5176\u4ee3\u8868\u4f5c\u54c1\u3002<\/p>\n\n\n\n

2008\u5e746\u670810\u65e5\u8d77\uff0c\u817e\u8baf\u83b7\u7eb3\u5165\u6052\u751f\u6307\u6570<\/a>\u6210\u4efd\u80a1\uff08\u84dd\u7b79\u80a1<\/a>\uff09\u3002[15]<\/a><\/sup><\/p>\n\n\n\n

2010\u5e743\u6708\uff0c\u817e\u8bafQQ<\/a>\u540c\u65f6\u5728\u7ebf\u7528\u6237\u7a81\u78341\u4ebf\uff0c\u817e\u8bafQQ<\/a>\u62e5\u6709\u4e86\u4e2d\u56fd\u5927\u9646\u5373\u65f6\u901a\u8baf\u5e02\u573a\u4e0d\u53ef\u64bc\u52a8\u7684\u5730\u4f4d\u3002[16]<\/a><\/sup><\/p>\n\n\n\n

\u4f46\u6b64\u65f6\u817e\u8baf\u4e0e\u5947\u864e<\/a>\u516c\u53f8\u4e4b\u95f4\u7684\u5e02\u573a\u51b2\u7a81\uff0c\u5374\u5f15\u53d1\u201c3Q\u5927\u6218\u201d<\/a>[17]<\/a><\/sup>\u3002\u7531\u4e8e\u4e24\u8005\u5728\u5404\u81ea\u4e3b\u5bfc\u9886\u57df\u7684\u5e02\u573a\u5360\u6709\u7387\u6781\u9ad8\uff0c\u4e24\u8005\u7684\u4e89\u6597\u5bfc\u81f4\u4e2d\u56fd\u5927\u9646\u6570\u4ee5\u4ebf\u8ba1\u7684\u7528\u6237\u53d7\u5f71\u54cd\uff0c\u4e8b\u540e\u817e\u8baf\u53ca\u5947\u864e\u5747\u53d7\u5230\u5e02\u573a\u53ca\u653f\u5e9c\u7684\u6279\u8bc4\uff0c\u591a\u5e74\u6765\u817e\u8baf\u590d\u5236\u5176\u5b83\u516c\u53f8\u8fd0\u8425\u6a21\u5f0f\u6240\u5e26\u6765\u7684\u79ef\u6028\u4e5f\u4e00\u540c\u7206\u53d1\u3002[11]<\/a><\/sup><\/p>\n\n\n\n

2010\u5e744\u6708\uff0c\u817e\u8baf\u6295\u5f97\u5357\u5c71\u79d1\u6280\u56edT204-0072\u571f\u5730\u5730\u4e0a\u6743\uff0c\u4ee5\u5174\u5efa\u65b0\u603b\u90e8\u5927\u697c\uff0c\u5373\u4eca\u5929\u7684\u817e\u8baf\u6ee8\u6d77\u5927\u53a6<\/a>\u3002<\/p>\n\n\n\n

The company originally derived income solely from advertising and premium users of QQ, who pay monthly fees to receive extras.[29]<\/a><\/sup> By 2005, charging for use of QQ mobile, its cellular value-added service<\/a>, and licensing<\/a> its penguin character, which could be found on snack food[39]<\/a><\/sup> and clothing,[29]<\/a><\/sup> had also become income generators.[29]<\/a><\/sup> By 2008, Tencent was seeing profit growth from the sale of virtual goods<\/a>.[40]<\/a><\/sup>
\u3010\u53c2\u8003\u8bd1\u6587\u3011\u8be5\u516c\u53f8\u6700\u521d\u7684\u6536\u5165\u4ec5\u6765\u81eaQQ\u7684\u5e7f\u544a\u548c\u4ed8\u8d39\u7528\u6237\uff0c\u8fd9\u4e9b\u7528\u6237\u652f\u4ed8\u6708\u8d39\u4ee5\u83b7\u53d6\u989d\u5916\u670d\u52a1\u3002[29]\u52302005\u5e74\uff0c\u5bf9QQ\u79fb\u52a8\u670d\u52a1\uff08\u5176\u624b\u673a\u589e\u503c\u670d\u52a1\uff09\u6536\u8d39\u4ee5\u53ca\u6388\u6743\u4f7f\u7528\u5176\u4f01\u9e45\u5f62\u8c61\uff08\u8be5\u5f62\u8c61\u53ef\u89c1\u4e8e\u96f6\u98df[39]\u548c\u670d\u88c5[29]\u4e0a\uff09\u4e5f\u6210\u4e3a\u4e86\u6536\u5165\u6765\u6e90\u3002[29]\u52302008\u5e74\uff0c\u817e\u8baf\u5f00\u59cb\u901a\u8fc7\u9500\u552e\u865a\u62df\u5546\u54c1\u5b9e\u73b0\u5229\u6da6\u589e\u957f\u3002[40]<\/p>\n\n\n\n

While Tencent’s services have included online gaming since 2004, around 2007\/2008, it rapidly increased its offerings by licensing games.[42]<\/a><\/sup> While at least two, Crossfire<\/a><\/em> and Dungeon Fighter Online<\/a><\/em>, were originally produced by South Korean game developers, Tencent now makes its own games.[42]<\/a><\/sup> On 21 January 2011, Tencent launched Weixin<\/a> (\u5fae\u4fe1), a social media<\/a> app<\/a>. Now branded as WeChat, the app is one of the “super apps”, due to its wide range of functions and platforms, and its over 1\u00a0billion monthly active users.[43]<\/a>[44]<\/a>[45]<\/a>[46]<\/a><\/sup>
\u3010\u53c2\u8003\u8bd1\u6587\u3011\u867d\u7136\u817e\u8baf\u81ea2004\u5e74\u8d77\u5c31\u63d0\u4f9b\u7f51\u7edc\u6e38\u620f\u670d\u52a1\uff0c\u4f46\u5927\u7ea6\u57282007\u5e74\u81f32008\u5e74\u671f\u95f4\uff0c\u5b83\u901a\u8fc7\u6388\u6743\u6e38\u620f\u8fc5\u901f\u589e\u52a0\u4e86\u6e38\u620f\u4ea7\u54c1\u3002[42]\u867d\u7136\u5176\u4e2d\u81f3\u5c11\u6709\u4e24\u6b3e\u6e38\u620f\u300a\u7a7f\u8d8a\u706b\u7ebf\u300b\u548c\u300a\u5730\u4e0b\u57ce\u4e0e\u52c7\u58eb\u300b\u6700\u521d\u662f\u7531\u97e9\u56fd\u6e38\u620f\u5f00\u53d1\u5546\u5236\u4f5c\u7684\uff0c\u4f46\u817e\u8baf\u73b0\u5728\u4e5f\u5f00\u59cb\u81ea\u4e3b\u7814\u53d1\u6e38\u620f\u3002[42]2011\u5e741\u670821\u65e5\uff0c\u817e\u8baf\u63a8\u51fa\u4e86\u793e\u4ea4\u5a92\u4f53\u5e94\u7528\u5fae\u4fe1\uff08Weixin\uff09\u3002\u8be5\u5e94\u7528\u73b0\u5728\u54c1\u724c\u540d\u4e3aWeChat\uff0c\u7531\u4e8e\u5176\u5e7f\u6cdb\u7684\u529f\u80fd\u548c\u5e73\u53f0\u4ee5\u53ca\u8d85\u8fc710\u4ebf\u7684\u6708\u6d3b\u8dc3\u7528\u6237\uff0c\u5b83\u5df2\u6210\u4e3a\u201c\u8d85\u7ea7\u5e94\u7528\u201d\u4e4b\u4e00\u3002[43][44][45][46]<\/p>\n\n\n\n

1.2 2011\u20132014\u5e74\uff1a\u65e9\u671f\u6295\u8d44 | 2011\u20132014: Early investments<\/h3>\n\n\n\n

1.2.1 2011\u5e74<\/h4>\n\n\n\n

On 18 February 2011, Tencent acquired a majority of equity interest (92.78%)[47]<\/a><\/sup> in Riot Games<\/a>, developer of League of Legends<\/a>, for about US$230\u00a0million. Tencent had already held 22.34% of the equity interest out of a previous investment in 2008. On 16 December 2015, Riot Games sold its remaining equity to Tencent.[48]<\/a>[49]<\/a><\/sup>
\u3010\u53c2\u8003\u8bd1\u6587\u30112011\u5e742\u670818\u65e5\uff0c\u817e\u8baf\u4ee5\u7ea62.3\u4ebf\u7f8e\u5143\u7684\u4ef7\u683c\u6536\u8d2d\u4e86\u300a\u82f1\u96c4\u8054\u76df\u300b\uff08League of Legends\uff09\u5f00\u53d1\u5546Riot Games\u7684\u5927\u90e8\u5206\u80a1\u6743\uff0892.78%\uff09\u3002[47]\u57282008\u5e74\u7684\u4e00\u6b21\u65e9\u671f\u6295\u8d44\u4e2d\uff0c\u817e\u8baf\u5df2\u7ecf\u6301\u6709Riot Games 22.34%\u7684\u80a1\u6743\u30022015\u5e7412\u670816\u65e5\uff0cRiot Games\u5c06\u5176\u5269\u4f59\u80a1\u6743\u51fa\u552e\u7ed9\u817e\u8baf\u3002[48][49]<\/p>\n\n\n\n

\u76f8\u8f83\u77ed\u671f\u7684\u201c3Q\u5927\u6218<\/a>\u201d\uff08\u867d\u7136\u6b64\u540e\u53cc\u65b9\u516c\u53f8\u4ecd\u6709\u51b2\u7a81\uff09\uff0c\u817e\u8baf\u5728\u66f4\u5927\u5c42\u9762\u4e0a\u53d7\u5230\u4e2d\u56fd\u5176\u4ed6\u590d\u5236\u4ed6\u4eba\u7ecf\u9a8c\u7684\u516c\u53f8\u7684\u6311\u6218\u3002\u6b64\u524d\uff0cSNS<\/a>\u65b9\u9762\uff0c\u6a21\u4efffacebook<\/a>\u7684\u5f00\u5fc3\u7f51<\/a>\u3001\u4eba\u4eba\u7f51<\/a>\u5df2\u7ecf\u5bf9\u5176\u793e\u4ea4\u5e02\u573a\u6784\u6210\u5a01\u80c1\uff1b\u5176\u540e\uff0c\u6a21\u4effTwitter<\/a>\u7684\u65b0\u6d6a<\/a>\u5fae\u535a<\/a>\u4ee5\u65b0\u7684\u5373\u65f6\u4ea4\u6d41\u5f62\u5f0f\u6311\u6218\u5176\u5373\u65f6\u901a\u8baf\u5e02\u573a\u7684\u9738\u4e3b\u5730\u4f4d\u30022011\u5e74\uff0c\u817e\u8baf\u5f00\u59cb\u63a8\u5e7f\u5176\u201c\u817e\u8baf\u793e\u533a\u5f00\u653e\u5e73\u53f0\u201d\u4ea7\u54c1\uff0c\u53f7\u79f0\u5bf9\u7b2c\u4e09\u65b9\u5f00\u53d1\u7a0b\u5e8f\u63a5\u53e3\u751a\u81f3\u901a\u8baf\u534f\u8bae\u4ee5\u5438\u5f15\u7b2c\u4e09\u65b9\u5408\u4f5c\u8005\u52a0\u5165\u5f00\u53d1\u3002[11]<\/a><\/sup><\/p>\n\n\n\n

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