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1Q18-2Q22腾讯季度S&M费用及费用率
1Q18-2Q22腾讯季度S&M费用及费用率
行业数据
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所属报告：
腾讯控股：优质的生态进击的巨人-221010（70页）.pdf
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图18、2012-2026Q1全球医疗健康产业投融资
fCDlubTku70gICAgICAgfCDmgLvono3otYTpop3vvIjkur/nvo7lhYPvvIkgfCDono3otYTlkIzmr5Tlop7pgJ/vvIgl77yJIHwKfC0tLS0tLS0tLS0tLXwtLS0tLS0tLS0tLS0tLS0tLS0tLXwtLS0tLS0tLS0tLS0tLS0tLS18CnwgMjAxMiAgICAgICB8IDYwICAgICAgICAgICAgICAgICB8IDExMCAgICAgICAgICAgICAgfAp8IDIwMTMgICAgICAgfCAxMDAgICAgICAgICAgICAgICAgfCAxNDUgICAgICAgICAgICAgIHwKfCAyMDE0ICAgICAgIHwgMjAwICAgICAgICAgICAgICAgIHwgODAgICAgICAgICAgICAgICB8CnwgMjAxNSAgICAgICB8IDI3MCAgICAgICAgICAgICAgICB8IDU1ICAgICAgICAgICAgICAgfAp8IDIwMTYgICAgICAgfCAyODAgICAgICAgICAgICAgICAgfCA1MCAgICAgICAgICAgICAgIHwKfCAyMDE3ICAgICAgIHwgNDIwICAgICAgICAgICAgICAgIHwgMTA1ICAgICAgICAgICAgICB8CnwgMjAxOCAgICAgICB8IDYzMCAgICAgICAgICAgICAgICB8IDk1ICAgICAgICAgICAgICAgfAp8IDIwMTkgICAgICAgfCA2MDAgICAgICAgICAgICAgICAgfCA1MCAgICAgICAgICAgICAgIHwKfCAyMDIwICAgICAgIHwgODkwICAgICAgICAgICAgICAgIHwgOTUgICAgICAgICAgICAgICB8CnwgMjAyMSAgICAgICB8IDEzODAgICAgICAgICAgICAgICB8IDEwMCAgICAgICAgICAgICAgfAp8IDIwMjIgICAgICAgfCA4ODAgICAgICAgICAgICAgICAgfCAtMjAgICAgICAgICAgICAgIHwKfCAyMDIzICAgICAgIHwgNTgwICAgICAgICAgICAgICAgIHwgLTI1ICAgICAgICAgICAgICB8CnwgMjAyNCAgICAgICB8IDU5MCAgICAgICAgICAgICAgICB8IDEwICAgICAgICAgICAgICAgfAp8IDIwMjUgICAgICAgfCA2NTAgICAgICAgICAgICAgICAgfCA2NSAgICAgICAgICAgICAgIHwKfCAyMDI2UTEgICAgIHwgMTUwICAgICAgICAgICAgICAgIHwgNDAgICAgICAgICAgICAgICB8CgrotYTmlpnmnaXmupDvvJrliqjohInnvZHvvIzlhbTkuJror4HliLjnu4/mtY7kuI7ph5Hono3noJTnqbbpmaLmlbTnkIY=
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表18、上市建筑企业分板块2026Q1收入及归母净利润情况（亿元）
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行业数据
2026-05-11
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图18、2026Q1创业板归母净利润增速大幅增长
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行业数据
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B轮融资占金融科技交易比例显著上升（2026Q1达22%，三年前仅7%）
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2026-04-22
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图表3016–18涨价周期总结（2016Q3–2018Q3）
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行业数据
2026-03-10
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图22、香港广义库存（竣工未售+在建未售+批出土地未动工）较24Q1高点改善
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行业数据
2026-02-28
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零跑汽车1Q22-3Q25毛利及毛利率
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行业数据
2026-02-26
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零跑汽车1Q22-3Q25销量及ASP
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行业数据
2026-02-26
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零跑汽车1Q22-3Q25营收及同比增速
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行业数据
2026-02-26
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零跑汽车1Q22-3Q25归母净利
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行业数据
2026-02-26
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零跑汽车1Q22-3Q25销管研费用率
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行业数据
2026-02-26
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图 14：2016-2021 年腾讯费用率 18.0% 16.0% 14.8% 14.0%12.0%10.0% 8.0% 6.0%4.0%2.0%0.0%
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