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收购前美杰姆股权结构
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所属报告：
三垒股份-乘行业之风A股早教龙头启航-181228（29页）.pdf
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fCDogqHkuJznsbvlnosgfCDogqHkuJzlkI3np7AgfCDmjIHogqHmr5TkvosgfAp8Oi0tLTp8Oi0tLTp8Oi0tLTp8Cnwg5a6e5o6n5Lq6IHwg546L5rCP5a625pePIHwgNzQuNTglIHwKfCDmtYHpgJrogqEgfCDlhazkvJfogqHkuJwgfCAyNS40MiUgfAp8ICoq5qCH55qE5YWs5Y+4KiogfCAqKuWNl+aXi+aOp+iCoeaciemZkOWFrOWPuO+8iE5hbWVzb24gSG9sZGluZ3MgTGltaXRlZO+8jDE5ODIuSEvvvIkqKiB8ICoqMTAwLjAwJSoqIHwKCirms6jvvJrmlbDmja7miKrmraLml6XmnJ/kuLoyMDI25bm0M+aciDIw5pelKgoKKirotYTmlpnmnaXmupDvvJoqKiBXaW5k77yM5rWZ5ZWG6K+B5Yi456CU56m25omA
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fCDogqHkuJzlkI3np7AgICAgICAgICAgICAgICB8IOaMgeiCoeavlOS+iyB8CnwtLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS18LS0tLS0tLS0tLXwKfCBIYW5kc29tZSBSZXdhcmQgTGltaXRlZCB8IDE2LjUwJSAgIHwKfCBCbGFja1JvY2ssIEluYy4gICAgICAgICB8IDQuNzMlICAgIHwKfCDpqazkuJzmlY8gICAgICAgICAgICAgICAgIHwgMy4yNCUgICAgfAp8IOadjuW9puWujyAgICAgICAgICAgICAgICAgfCAwLjExJSAgICB8Cnwg5YW25LuWICAgICAgICAgICAgICAgICAgIHwgNzUuNDIlICAgfAoK6LWE5paZ5p2l5rqQ77ya5YWs5Y+45a6Y572R77yM5oub5ZWG6K+B5Yi4
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2026-07-06
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图3、壁仞科技股权结构（截至2025年12月31日）
fCDogqHkuJzlkI3np7AgICAgICAgICB8IOaMgeiCoeavlOS+iyB8CnwtLS0tLS0tLS0tLS0tLS0tLS18LS0tLS0tLS0tLXwKfCDkuIrmtbflo4Hnq4vku54gICAgICAgfCA3Ljg0JSAgICB8Cnwg5byg5paHICAgICAgICAgICAgIHwgNy41MSUgICAgfAp8IOWkp+aoqueQtOWIm+aWsOWPkeWxlSAgIHwgMy4zMSUgICAgfAp8IOaigeaZk+aZkyAgICAgICAgICAgfCAyLjY3JSAgICB8CgrotYTmlpnmnaXmupDvvJppRmluRO+8jDIwMjXlubTmiqXvvIzlhbTkuJror4HliLjnu4/mtY7kuI7ph5Hono3noJTnqbbpmaLmlbTnkIY=
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fCDogqHkuJzlkI3np7AgfCDmjIHogqHmr5TkvosgfAp8IC0tLSB8IC0tLSB8Cnwg5Lit5oiQ5Y+R5bGV5pyJ6ZmQ5YWs5Y+4IHwgMjMuMjYlIHwKfCBHdWlkb3ogTGltaXRlZCB8IDEyLjk3JSB8CnwgRk1SIExMQyB8IDYuMjQlIHwKfCBHTCBDaGluYSBMb25nIEVxdWl0eSBPcHBvcnR1bml0aWVzIEZ1bmQgU1BWIEwuUC4gfCA1LjA2JSB8Cnwg5a6J54ybIHwgMy45NSUgfAoK6LWE5paZ5p2l5rqQ77ya5YWs5Y+45YWs5ZGK77yMd2luZO+8jOWFieWkp+ivgeWIuOeglOeptuaJgOaVtOeQhu+8iOazqO+8muiZmue6v+ahhuWGheS4uuWunumZheaOp+WItuS6uu+8iQ==
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