{"id":859,"date":"2026-07-24T22:31:27","date_gmt":"2026-07-24T14:31:27","guid":{"rendered":"https:\/\/www.cyber3hk.com\/wordpress\/?p=859"},"modified":"2026-07-24T22:31:27","modified_gmt":"2026-07-24T14:31:27","slug":"%e9%80%86%e5%90%91%e6%8b%86%e8%a7%a3%e6%b8%af%e6%8a%95%e5%85%ac%e5%8f%b8%e3%80%8c%e6%95%b8%e7%b0%bf%e3%80%8d-14-irr%e8%83%8c%e5%be%8c%ef%bc%8c%e6%98%af%e6%8a%95%e8%b3%87%e7%a5%9e","status":"publish","type":"post","link":"http:\/\/www.cyber3hk.com\/wordpress\/?p=859","title":{"rendered":"\u9006\u5411\u62c6\u89e3\u6e2f\u6295\u516c\u53f8\u300c\u6578\u7c3f\u300d\u2014\u201414% IRR\u80cc\u5f8c\uff0c\u662f\u6295\u8cc7\u795e\u8a71\uff0c\u662f\u96b1\u66aa\u8ca1\u52d9\u62ab\u9732\uff0c\u9084\u662f\u523b\u610f\u300c\u7be4\u6578\u300d\uff1f"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"\u9006\u5411\u62c6\u89e3\u6e2f\u6295\u516c\u53f8\u300c\u6578\u7c3f\u300d\u2014\u201414% IRR\u80cc\u5f8c\uff0c\u662f\u6295\u8cc7\u795e\u8a71\uff0c\u662f\u96b1\u66aa\u8ca1\u52d9\u62ab\u9732\uff0c\u9084\u662f\u523b\u610f\u300c\u7be4\u6578\u300d\uff1f\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/BTT62hohyEc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><a target=\"_blank\" rel=\"noreferrer noopener\" href=\"http:\/\/www.youtube.com\/watch?v=BTT62hohyEc\">\u8ca1\u7d93\u62c6\u5c40<\/a> \u7684\u7bc0\u76ee\uff0c\u7531\u984f\u5bf6\u525b\u5148\u751f\u6df1\u5165\u89e3\u6790\u9999\u6e2f\u6295\u8cc7\u7ba1\u7406\u6709\u9650\u516c\u53f8\uff08\u7c21\u7a31\u300c\u6e2f\u6295\u516c\u53f8\u300d\uff09\u6700\u65b0\u516c\u4f48\u7684\u300a2025\u5e74\u5e74\u5831\u300b\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83d\udcca 2025\u5e74\u5e74\u5831\u7684\u6838\u5fc3\u6578\u64da\u4eae\u9ede<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u6295\u8cc7\u6536\u5165<\/strong>\uff1a\u9054 64.6 \u5104\u6e2f\u5143\uff0c\u6309\u5e74\u5927\u5e45\u589e\u52a0 1.75 \u500d\u3002<\/li>\n\n\n\n<li><strong>\u71df\u904b\u5229\u6f64<\/strong>\uff1a\u9054 63.2 \u5104\u6e2f\u5143\u3002<\/li>\n\n\n\n<li><strong>\u6295\u8cc7\u7d44\u5408\u6de8\u5167\u90e8\u56de\u5831\u7387 (Net IRR)<\/strong>\uff1a\u9054 <strong>14%<\/strong>\u3002<\/li>\n\n\n\n<li><strong>\u8cc7\u672c\u64ac\u52d5\u6bd4\u4f8b<\/strong>\uff1a\u6bcf 1 \u5143\u6e2f\u6295\u516c\u53f8\u6295\u8cc7\uff0c\u53ef\u64ac\u52d5 8 \u5143\u5e02\u5834\u9577\u671f\u8cc7\u672c\uff08\u9ad8\u65bc 2024 \u5e74\u7684 1 \u868a\u64ac\u52d5 6 \u868a\uff09\u3002<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83d\udd0d \u5f71\u7247\u6838\u5fc3\u8cea\u7591\u8207\u5206\u6790\u91cd\u9ede<\/h3>\n\n\n\n<p>\u5118\u7ba1\u8868\u9762\u4e0a\u7684\u8ca1\u52d9\u6578\u5b57\u975e\u5e38\u4eae\u773c\uff0c\u4f46\u5f71\u7247\u6307\u51fa\u5176\u4e2d\u5b58\u5728\u4e0d\u5c11\u503c\u5f97\u5546\u69b7\u8207\u6b20\u7f3a\u900f\u660e\u5ea6\u7684\u5730\u65b9\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>14% IRR \u8a08\u7b97\u904e\u7a0b\u6b20\u7f3a\u900f\u660e\u5ea6<\/strong>\uff1a\n<ul class=\"wp-block-list\">\n<li>IRR\uff08\u5167\u90e8\u56de\u5831\u7387\uff09\u9700\u8981\u4f9d\u8cf4\u8a73\u7d30\u7684\u73fe\u91d1\u6d41\u6578\u64da\uff08\u5305\u62ec\u6295\u8cc7\u6295\u5165\u8207\u9000\u51fa\u7684\u6642\u9593\u9ede\u3001\u80a1\u606f\u6536\u53d6\u6642\u9593\u7b49\uff09\u4f86\u8a08\u7b97\u3002<\/li>\n\n\n\n<li>\u5e74\u5831\u4e2d\u4e26\u672a\u5b8c\u6574\u62ab\u9732\u5177\u9ad4\u7684\u8a08\u7b97\u516c\u5f0f\u3001\u73fe\u91d1\u6d41\u8cc7\u6599\uff0c\u4ee5\u53ca\u662f\u5426\u8a08\u5165\u4e86\u672a\u8b8a\u73fe\u7684\u4f30\u503c\u8b8a\u52d5\uff0c\u5916\u754c\u96e3\u4ee5\u9a57\u8b49\u5176\u771f\u5be6\u6027\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u6295\u8cc7\u6536\u5165\u7d44\u6210\u672a\u660e<\/strong>\uff1a\n<ul class=\"wp-block-list\">\n<li>\u6e2f\u6295\u516c\u53f8\u7ba1\u7406\u9ad8\u9054\u8fd1 700 \u5104\u6e2f\u5143\uff08\u6e90\u81ea\u904e\u53bb\u672a\u4f86\u57fa\u91d1\u3001\u571f\u5730\u57fa\u91d1\u7b49\u516c\u5e11\uff09\uff0c\u300c\u6295\u8cc7\u6536\u5165\u300d\u7a76\u7adf\u6709\u591a\u5c11\u4f86\u81ea\u5c07\u73fe\u91d1\u653e\u5728\u9280\u884c\u8cfa\u53d6\u7684\u5b9a\u671f\u5229\u606f\uff0c\u6216\u662f\u4f86\u81ea\u521d\u5275\u4f01\u696d\u672a\u8b8a\u73fe\u7684\u516c\u5141\u50f9\u503c\uff08Fair Value\uff09\u4e0a\u5347\uff0c\u5e74\u5831\u4e2d\u672a\u6709\u8a73\u7d30\u4ea4\u4ee3\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u300c\u660e\u661f AI \u4f01\u696d\u300d\u8207\u5e02\u5834\u6ce2\u52d5<\/strong>\uff1a\n<ul class=\"wp-block-list\">\n<li>\u6e2f\u6295\u516c\u53f8\u65e9\u671f\u66fe\u6295\u8cc7\u90e8\u5206\u5099\u53d7\u77da\u76ee\u7684 AI \u4f01\u696d\uff08\u5982\u6708\u4e4b\u6697\u9762 Moonshot AI \u7b49\uff09\uff0c\u96d6\u7136\u8868\u9762\u4e0a\u5e33\u9762\u56de\u5831\u53ef\u89c0\uff0c\u4f46\u96a8\u8457\u8fd1\u671f AI \u5e02\u5834\u7af6\u722d\u5287\u70c8\u3001\u90e8\u5206\u6a21\u578b\u66ab\u505c\u66f4\u65b0\u6216\u80a1\u50f9\u56de\u843d\uff0c\u76f8\u95dc\u672a\u4e0a\u5e02\u6295\u8cc7\u7684\u5be6\u969b\u4f30\u503c\u8b8a\u5316\u5b58\u5728\u4e0d\u78ba\u5b9a\u6027\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u8cc7\u672c\u64ac\u52d5\u8aaa\u6cd5\u53d7\u8cea\u7591<\/strong>\uff1a\n<ul class=\"wp-block-list\">\n<li>\u95dc\u65bc\u300c\u6bcf 1 \u5143\u727d\u52d5 8 \u5143\u9577\u671f\u8cc7\u672c\u300d\u7684\u8aaa\u6cd5\uff0c\u6b20\u7f3a\u5177\u9ad4\u7684\u908f\u8f2f\u8207\u6578\u64da\u4f50\u8b49\uff0c\u88ab\u5e02\u5834\u6279\u8a55\u7f3a\u4e4f\u6e05\u6670\u89e3\u91cb\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u7ba1\u6cbb\u8207\u900f\u660e\u5ea6\u671f\u671b<\/strong>\uff1a\n<ul class=\"wp-block-list\">\n<li>\u6e2f\u6295\u516c\u53f8\u4f5c\u70ba\u5168\u8cc7\u653f\u5e9c\u6295\u8cc7\u6a5f\u69cb\uff0c\u5176\u884c\u653f\u7e3d\u88c1\u5e74\u85aa\u9ad8\u9054\u5343\u842c\u7d1a\u5225 [<a href=\"https:\/\/www.youtube.com\/watch?v=BTT62hohyEc&amp;t=4558\" target=\"_blank\" rel=\"noreferrer noopener\">01:15:58\u5728\u65b0\u8996\u7a97\u4e2d\u958b\u555f<\/a>]\u3002\u8a55\u8ad6\u8a8d\u70ba\uff0c\u82e5\u8981\u771f\u6b63\u5efa\u7acb\u5982\u4e3b\u6b0a\u57fa\u91d1\u822c\u7684\u516c\u4fe1\u529b\u8207\u4fe1\u8b7d\uff0c\u672a\u4f86\u7684\u5e74\u5831\u9700\u8981\u63d0\u9ad8\u900f\u660e\u5ea6\uff0c\u63d0\u4f9b\u8db3\u4ee5\u8b93\u516c\u773e\u548c\u5e02\u5834\u81ea\u884c\u9a57\u8b49\u7684\u5b8c\u6574\u8ca1\u52d9\u5831\u8868\uff0c\u800c\u4e0d\u53ea\u662f\u4eae\u773c\u7684\u53e3\u865f\u6216\u884c\u92b7\u7c21\u5831 [<a href=\"https:\/\/www.youtube.com\/watch?v=BTT62hohyEc&amp;t=4920\" target=\"_blank\" rel=\"noreferrer noopener\">01:22:00\u5728\u65b0\u8996\u7a97\u4e2d\u958b\u555f<\/a>]\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u8ca1\u7d93\u62c6\u5c40 \u7684\u7bc0\u76ee\uff0c\u7531\u984f\u5bf6\u525b\u5148\u751f\u6df1\u5165\u89e3\u6790\u9999\u6e2f\u6295\u8cc7\u7ba1\u7406\u6709\u9650\u516c\u53f8\uff08\u7c21\u7a31\u300c\u6e2f\u6295\u516c\u53f8\u300d\uff09\u6700\u65b0\u516c\u4f48\u7684\u300a2025\u5e74\u5e74\u5831\u300b\u3002  [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-859","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=859"}],"version-history":[{"count":1,"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/859\/revisions"}],"predecessor-version":[{"id":860,"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/859\/revisions\/860"}],"wp:attachment":[{"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=859"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.cyber3hk.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}