锟斤拷锟斤拷锟斤拷訜锟斤拷袠I(y锟斤拷)锟侥監(ji锟斤拷n)锟杰凤拷锟斤拷锟斤拷锟斤拷(j锟斤拷)锟斤拷锟斤拷亍锟斤拷@锟斤拷锟斤拷3锟斤拷22锟斤拷锟斤拷锟斤拷锟斤拷見锟斤拷l(f锟斤拷)锟斤拷8锟斤拷锟铰猴拷

锟斤拷锟斤拷11锟斤拷26锟秸ｏ拷锟斤拷锟斤拷(w锟斤拷)院锟絣(f锟斤拷)锟斤拷锟絇(gu锟斤拷n)锟斤拷锟睫改★拷锟斤拷锟紸锟斤拷锟今共和囷拷锟斤拷锟捷岋拷锟絬锟斤拷锟斤拷施锟絣锟斤拷锟斤拷(锟铰稱锟斤拷锟斤拷锟捷條锟斤拷锟斤拷)锟侥決锟斤拷锟斤拷

锟斤拷锟斤拷锟斤拷訌锟斤拷锟接燂拷锟斤拷锟斤拷锟酵燂拷锟斤拷锟斤拷品锟絆(ji锟斤拷n)锟杰ｏ拷锟斤拷锟斤拷(w锟斤拷)院锟絈锟斤拷锟斤拷锟斤拷锟斤拷锟捷條锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟睫改ｏ拷锟斤拷锟斤拷一锟絣锟斤拷锟斤拷锟斤拷锟斤拷锟绞拷锟絣锟斤拷“锟斤拷訜锟斤拷锟斤拷锟斤拷蜔锟斤拷锟斤拷锟狡凤拷锟斤拷毡锟斤拷l锟斤拷锟巾煙锟斤拷锟斤拷锟絇(gu锟斤拷n)規(gu锟斤拷)锟斤拷锟斤拷(zh锟斤拷)锟叫★拷”锟斤拷锟解，锟斤拷锟絣锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟�(y锟斤拷ng)锟絳(di锟斤拷o)锟斤拷锟斤拷锟斤拷锟絈锟斤拷锟皆癸拷锟斤拷之锟斤拷锟斤拷施锟叫★拷

锟斤拷锟斤拷锟叫囷拷锟斤拷锟斤拷虝锟斤拷锟接燂拷锟叫業(y锟斤拷)委锟絋锟斤拷锟截曪拷锟絃锟斤拷锟斤拷锟絑锟斤拷锟斤拷一財锟斤拷(j锟斤拷ng)記锟竭憋拷示锟斤拷锟斤拷锟斤拷(w锟斤拷)院锟斤拷锟斤拷锟斤拷锟斤拷锟絇(gu锟斤拷n)锟斤拷锟斤拷訜锟斤拷O(ji锟斤拷n)锟杰的癸拷锟芥，锟角筹拷锟斤拷要也锟角筹拷锟斤拷锟絩锟斤拷希锟斤拷锟铰碉拷锟斤拷訜锟斤拷锟斤拷覐锟斤拷锟斤拷詷锟�(bi锟斤拷o)锟斤拷(zh锟斤拷n)也锟杰夛拷锟斤拷锟秸筹拷锟絖锟斤拷锟絣(f锟斤拷)锟斤拷锟斤拷施锟斤拷锟斤拷效規(gu锟斤拷)锟斤拷锟斤拷訜锟斤拷锟斤拷a(ch锟斤拷n)锟斤拷(j锟斤拷ng)锟絀锟斤拷樱锟斤拷锟絈锟斤拷訜锟斤拷锟斤拷诘漠a(ch锟斤拷n)品锟絴(zh锟斤拷)锟斤拷锟斤拷全锟絃(f锟斤拷ng)锟経锟饺嗭拷锟絵锟斤拷锟叫岋拷锟斤拷锟斤拷锟斤拷锟組锟竭合凤拷锟斤拷(qu锟斤拷n)锟芥。

锟斤拷锟斤拷锟斤拷锟揭囷拷锟斤拷訜锟斤拷a(ch锟斤拷n)锟絀(y锟斤拷)規(gu锟斤拷)模锟斤拷锟斤拷2020锟疥，锟叫囷拷锟斤拷訜锟斤拷锟斤拷诩s锟斤拷494锟絴元锟斤拷锟斤拷锟�(75.59锟絴锟斤拷元)锟斤拷锟絕2019锟斤拷锟斤拷锟絃12.8%锟斤拷锟絕2018锟斤拷锟斤拷锟絃72.1%锟斤拷2020锟疥，锟叫囷拷锟斤拷(n锟斤拷i)锟絅锟斤拷锟斤拷锟絶锟絪锟斤拷145锟絴元锟斤拷锟斤拷牛锟斤拷^2019锟斤拷锟斤拷锟絃30%锟斤拷锟絕2018锟斤拷锟斤拷锟絃262.5%锟斤拷

锟斤拷锟斤拷锟斤拷(j锟斤拷)锟叫囷拷锟斤拷锟斤拷虝锟斤拷锟接燂拷锟叫業(y锟斤拷)委锟絋锟斤拷锟斤拷(sh锟斤拷)锟斤拷(j锟斤拷)锟斤拷锟斤拷2019锟斤拷12锟铰底ｏ拷全锟斤拷锟斤拷锟斤拷锟斤拷訜锟斤拷锟絀(y锟斤拷)1000锟斤拷遥锟斤拷锟斤拷锟斤拷锟�11锟斤拷锟斤拷锟叫癸拷司锟斤拷锟斤拷锟竭廠锟斤拷907锟揭ｏ拷锟斤拷锟斤拷占85.7%锟斤拷锟斤拷锟酵廠锟斤拷86锟揭ｏ拷锟斤拷锟斤拷占72%锟斤拷全锟斤拷锟斤拷訜锟斤拷锟斤拷锟斤拷锟斤拷锟絀(y锟斤拷)锟斤拷锟絇(gu锟斤拷n)锟侥業(y锟斤拷)锟剿員锟斤拷(sh锟斤拷)锟斤拷锟斤拷300锟絝锟剿★拷

锟斤拷锟斤拷锟斤拷锟斤拷锟叫業(y锟斤拷)锟絆(ji锟斤拷n)锟杰凤拷锟斤拷锟斤拷锟斤拷(j锟斤拷)锟絣(f锟斤拷)锟斤拷锟斤拷一位锟絍锟絴锟絴莞锟斤拷訜锟斤拷锟斤拷a(ch锟斤拷n)锟斤拷锟斤拷锟斤拷锟斤拷I(y锟斤拷)锟侥癸拷司锟较板對锟斤拷一財锟斤拷(j锟斤拷ng)記锟竭憋拷示锟斤拷锟叫業(y锟斤拷)锟杰斤拷锟斤拷锟絣(f锟斤拷)展锟斤拷锟斤拷锟組锟竭匡拷锟皆凤拷锟斤拷使锟斤拷锟叫堬拷锟较的產(ch锟斤拷n)品锟斤拷锟紷锟斤拷锟斤拷锟斤拷循锟絟(hu锟斤拷n)锟斤拷锟斤拷t锟叫業(y锟斤拷)始锟終锟斤拷邊锟斤拷锟角伙拷锟斤拷

锟斤拷锟斤拷“锟紽(xi锟斤拷n)锟节就匡拷锟斤拷(zh锟斤拷)锟叫硷拷(x锟斤拷)锟絫锟剿ｏ拷锟斤拷(y锟斤拷ng)該锟斤拷锟斤拷汰一锟斤拷锟斤拷锟斤拷規(gu锟斤拷)锟斤拷锟斤拷锟斤拷I(y锟斤拷)锟斤拷”锟斤拷锟斤拷锟斤拷一財锟斤拷(j锟斤拷ng)記锟竭憋拷示锟斤拷锟斤拷一些品锟斤拷锟斤拷訜锟斤拷锟斤拷陆锟斤拷锟斤拷锟斤拷N锟斤拷锟斤拷锟斤拷锟斤拷锟杰曪拷锟叫很达拷锟斤拷锟斤拷

锟斤拷锟斤拷锟斤拷锟斤拷(j锟斤拷)锟斤拷锟斤拷锟捷條锟斤拷锟斤拷锟斤拷锟斤拷锟絣锟斤拷锟斤拷锟铰燂拷锟捷岋拷锟絬品锟斤拷锟斤拷锟絘(ch锟斤拷n)锟斤拷锟斤拷锟絣(f锟斤拷)锟斤拷锟斤拷锟桔業(y锟斤拷)锟斤拷(w锟斤拷)锟斤拷锟皆硷拷锟斤拷(j锟斤拷ng)锟絀锟斤拷锟捷岋拷锟絬品锟組锟斤拷锟节業(y锟斤拷)锟斤拷(w锟斤拷)锟酵斤拷(j锟斤拷ng)锟絀锟斤拷锟斤拷锟斤拷锟斤拷锟狡焚忥拷N锟絀(y锟斤拷)锟斤拷(w锟斤拷)锟侥ｏ拷锟斤拷锟斤拷锟斤拷铡锟斤拷锟斤拷輰锟斤拷u锟斤拷锟斤拷锟酵憋拷锟絣锟斤拷锟斤拷規(gu锟斤拷)锟斤拷锟斤拷锟斤拷請锟絀(l锟斤拷ng)取锟斤拷锟捷岋拷锟絬锟絊锟斤拷锟紺锟斤拷

锟斤拷锟斤拷锟斤拷锟絕锟斤拷锟斤拷锟斤拷锟斤拷訜锟斤拷锟斤拷锟斤拷T锟斤拷螘r锟絢锟巾煙锟斤拷锟斤拷锟絊锟斤拷(j锟斤拷ng)锟絀锟紺锟斤拷锟斤拷锟斤拷k锟斤拷锟饺硷拷(x锟斤拷)锟絫锟斤拷還未锟斤拷锟絖锟斤拷锟斤拷位品锟斤拷锟斤拷訜锟斤拷锟斤拷锟斤拷T锟斤拷锟斤拷锟斤拷锟斤拷诮锟斤拷艿锟揭回旓拷锟�(j锟斤拷ng)锟絩锟斤拷示锟斤拷一锟斤拷锟斤拷锟絤(x锟斤拷)锟斤拷锟斤拷要去锟絢锟斤拷锟斤拷锟紺锟斤拷锟斤拷锟斤拷(y锟斤拷ng)該锟斤拷太锟斤拷锟絢锟斤拷锟斤拷锟角擄拷(d锟斤拷n)锟斤拷品锟狡凤拷锟斤拷锟絨锟絩锟斤拷

锟斤拷锟斤拷锟結锟斤拷锟叫堬拷锟侥凤拷锟斤拷(y锟斤拷ng)锟斤拷锟斤拷直锟接ｏ拷11锟斤拷26锟斤拷锟斤拷锟缴盤前锟斤拷锟斤拷訜锟斤拷锟揭伙拷懈殴锟斤拷F芯锟狡硷拷(NYSE:RLX)一锟饺碉拷锟斤拷20%锟斤拷锟紽芯锟狡硷拷锟斤拷锟叫囷拷锟斤拷(n锟斤拷i)锟斤拷锟斤拷锟斤拷訜锟狡凤拷茞锟斤拷蹋锟斤拷锟秸硷拷锟斤拷锟�60%锟斤拷锟较★拷锟紽芯锟狡硷拷锟斤拷锟斤拷锟绞撅拷锟�“锟揭傦拷锟斤拷锟絜锟絆锟戒實锟絆(ji锟斤拷n)锟斤拷要锟襟，筹拷锟絤(x锟斤拷)锟接达拷锟叫發(f锟斤拷)投锟诫，锟斤拷锟矫戯拷锟结供锟斤拷品锟絴(zh锟斤拷)锟絘(ch锟斤拷n)品锟斤拷锟叫岋拷锟斤拷锟斤拷锟斤拷锟截�(z锟斤拷)锟轿★拷”

锟斤拷锟斤拷锟斤拷锟斤拷锟絑锟斤拷示锟斤拷锟斤拷锟斤拷锟斤拷锟絖锟斤拷锟斤拷訜锟斤拷谋O(ji锟斤拷n)锟斤拷锟斤拷锟絯锟酵產(ch锟斤拷n)品锟斤拷锟皆ｏ拷锟斤拷锟斤拷锟斤拷一锟斤拷锟斤拷锟絇(gu锟斤拷n)锟斤拷(x锟斤拷)锟絫也锟斤拷锟斤拷m(x锟斤拷)锟斤拷锟絖锟斤拷锟斤拷锟斤拷锟皆筹拷锟节烇拷锟斤拷锟斤拷锟斤拷訜锟斤拷a(ch锟斤拷n)锟絀(y锟斤拷)锟斤拷锟斤拷锟絖锟絆(ji锟斤拷n)锟杰硷拷(x锟斤拷)锟絫锟芥及锟斤拷锟节凤拷锟芥，锟节凤拷锟较囷拷锟紿锟絆(ji锟斤拷n)锟斤拷要锟斤拷锟斤拷覈锟斤拷锟斤拷P(gu锟斤拷n)锟絆(ji锟斤拷n)锟杰的條锟斤拷锟铰戯拷(y锟斤拷ng)锟斤拷锟紽(xi锟斤拷n)锟斤拷锟斤拷锟酵憋拷锟斤拷锟斤拷锟侥勶拷锟街э拷锟斤拷锟絀(y锟斤拷)锟斤拷锟节勶拷(chu锟斤拷ng)锟絉锟斤拷锟斤拷锟斤拷锟节維锟斤拷锟揭囷拷锟斤拷訜锟斤拷a(ch锟斤拷n)锟絀(y锟斤拷)锟斤拷全锟斤拷母锟斤拷锟斤拷锟斤拷锟斤拷锟接燂拷锟絘(ch锟斤拷n)锟絀(y锟斤拷)锟斤拷锟絃锟絟(yu锟斤拷n)锟絣(f锟斤拷)展锟斤拷