����Ŀ�
��˾�śr .....................................................................................................................6
����������YҎ(gu��)ģ IPO .............................................................................................6
�{(di��o)���cС ����P(gu��n)ϵ�� ���� VIE �Y(ji��)��(g��u) .........................................................................6
�ϻ����� ���ϰ���߹ܿ��ƙ�(qu��n) ...................................................................................8
ȫ��λ�����B(t��i)Ȧ ����(g��u)����ӯ��ģʽ�� Ԫ�� ................................................................10
�� �����C���ƽ�_��̣��� ��Ⱥ��Ҏ(gu��)ģ���ٔU(ku��)�� .......................................................13
B2B �I(y��)��(w��)��Ҏ(gu��)ģ�I(l��ng)�ȣ� ؽ���D(zhu��n)������ .......................................................................14
2C �I(y��)��(w��)�� �ƄӶ˰l(f��)չѸ�٣��羳�I(y��)��(w��)���L�� ...........................................................15
�ИI(y��)����֮ B2B �I(y��)��(w��)���ӿ��D(zhu��n)������ .........................................................................18
����ӯ��ģʽ��һ��ͬ �|(zh��)���������� .......................................................................18
ӭ���D(zhu��n)�� ���������� ..............................................................................................20
�ИI(y��)����֮ 2C �I(y��)��(w��)�� �ƄӶ��Ј���δ���¿��c(di��n) ...........................................................23
�W(w��ng) ��Ҏ(gu��)ģ���ٷž����M(j��n)һ�����B(y��ng)�W(w��ng)ُ��(x��)�T���P(gu��n)�I ......................................................23
�W(w��ng) �j(lu��)ُ�サ��Ҏ(gu��)ģ���ٷž��� ����(sh��)�U(ku��)�������� ..........................................................24
�ƄӶ��Ј��V� ��δ�� 2C �I(y��)��(w��)�¿��c(di��n) ....................................................................25
ؔ��(w��)���������ָ��(bi��o)��̎�Ѿ������w�|(zh��)����Խͬ�� .......................................................28
�� ��(n��i)���� ���ٷž����ƄӶ˿������� .......................................................................28
�� �H���� �������L�����l(f��)�I(y��)��(w��)�@������ ....................................................................30
��Ӌ��;W(w��ng)�j(lu��)�O(sh��)ʩ�I�շ�(w��n)�����L���������켼�g(sh��)�� ƽ�_ ............................................31
ӯ��ָ��(bi��o)��̎��ͬ�ИI(y��)��ˮƽ .................................................................................32
IPO ļ�Y����Ч����Ŀǰƫ�ߵ��Y�a(ch��n)ؓ(f��) ���� .............................................................34
��(zh��n)�Ԅ��� ���ӿ��(zh��n)�Բ��𣬲��ֶ��I(l��ng)�� .......................................................................35
�l����(zh��n)Ͷ����λռ�� ..............................................................................................35
�{(di��o)���M���ܘ�(g��u)�� ӭ�ϑ�(zh��n)�Բ��� .................................................................................37
����չ����Ͷ�Y�Дࣺ վ���Ǝp���ȴ���׃ .................................................................39
���������ܟ����������[�n ....................................................................................39
�h(yu��n)������ Ҋ���������B(t��i)Ȧ���� ѭ�h(hu��n)����չ ................................................................39
����T��X.W. QQ��2774698110 �Ԓ��0571-87015503
�W(w��ng)վ���� | (li��n)ϵ�҂� | ������
ICP�C����B2-20070104