[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-JP2022090511361934789":3,"related-JP2022090511361934789":34},{"pageSize":4,"id":5,"productLine":6,"status":7,"articleCode":8,"articleType":9,"showStyle":7,"mediaType":10,"fileInputUrl":11,"articleTitle":12,"coverImage":13,"listImage":14,"introduction":15,"description":16,"nonVipDescription":11,"postTime":17,"viewTime":18,"sortNumber":19,"isFree":20,"isShowList":7,"isRecommend":20,"linkType":7,"isOriginal":6,"hasMiniUrl":20,"miniUrl":11,"miniScheme":11,"miniImage":11,"itemTag":11,"createBy":21,"updateBy":22,"createTime":23,"visitCount":24,"isLiked":20,"realSearch":25,"isRead":20,"productId":26,"isCollected":20,"collectCount":27,"vipExclusive":20,"allowComment":7,"style":28,"likeCount":27,"duration":20,"playStyle":7,"seoKeywords":11,"articleModuleVoList":29,"extendContentList":30,"noteCount":31,"categoryList":32,"dailyKeywordList":33},10,5079,"1",1,"JP2022090511361934789","1041018",3,"","你被迫看的电梯广告，给别人赚了多少钱？","https:\u002F\u002Fimage.jane7.com\u002F95bc1519-566b-4a19-8632-77f382f7e196.png","https:\u002F\u002Fimage.jane7.com\u002Ffc3d024c-b303-46fd-93f8-ec60faf291eb.png","小空间大生意","\u003Csection>\n \u003Csection>\n  \u003Csection>\n   \u003Csection>\n    \u003Csection>\n     \u003Csection>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); visibility: visible; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">看剧能跳广告，但碰上\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; visibility: visible;\">电梯广告\u003C\u002Fstrong>轰炸，你还真没办法躲开。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; visibility: visible; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); visibility: visible; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">就拿我住的小区来说，之前只是楼道有块荧幕板，今年年初，赫然发现在电梯里也安上了两块屏幕。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); visibility: visible; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); visibility: visible; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">这下好了，左右护法，不断打广告。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); visibility: visible; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); visibility: visible; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); visibility: visible; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">一进电梯，左边劝我植发，右边让我喝酒；过段时间，植发的就换成脱毛仪，喝酒的又让我吃感冒药。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); visibility: visible; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">我觉得挺有意思，寻思着\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); background-color: rgb(255, 218, 169); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">这块板背后，又是怎样的赚钱逻辑呢？\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">国内就有一家专门做电梯广告的公司，叫分众传媒，并且已经做到了行业龙头。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">早在2018年，很多人就发现了这家公司的业绩惊艳：\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">营收和净利润保持两位数增长，而且毛利率一直在70%附近，被不少人称为「传媒茅台」。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">可是好景不长——\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">到了2019年，分众的毛利率一下子跌到只有45%，净利润也同比下滑超过一半；\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">再看股价，从2018年2月开始下跌，两年时间跌掉超过60%，至今都没回到18年的高点：\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002F31f45d36-8931-4efe-9921-5a44e3d3d4d2.jpg\">\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">到底是什么原因，让分众传媒2019年突然「翻车」？为啥广告行业的业绩波动那么大？\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">我们还是从财报中寻找答案。\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 0.544px; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; text-align: justify; caret-color: rgb(51, 51, 51); text-decoration-thickness: initial; color: rgb(51, 51, 51); font-size: 17px; letter-spacing: 0.544px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); background-color: rgb(255, 254, 213); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">*风险提示：本文所提及的个股，仅为示例参考，并非推荐。投资有风险，决策需谨慎。\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px 0em; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; text-decoration-thickness: initial; color: rgb(53, 53, 53); font-size: 14px; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: &quot;Helvetica Neue&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei&quot;, 黑体, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002F067fa014-bbd1-4906-924c-cc289e7a8d97.jpg\">\u003C\u002Fp>\n      \u003Ch1 style=\"margin: 0px 16px; padding: 0px; outline: 0px; font-size: 17px; max-width: 100%; letter-spacing: 0.544px; text-decoration-thickness: initial; clear: both; min-height: 1em; display: block; color: rgb(51, 51, 51); text-align: center; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"color: rgb(214, 168, 65); margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">01&nbsp;\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fh1>\n      \u003Cp style=\"text-align:center; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; letter-spacing: 0.544px; text-align: justify; color: #d6a841;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">为什么电梯广告是「不可替代」的？\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; color: rgb(34, 34, 34); font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: system-ui, -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">翻开分众传媒的财报，公司主营业务是楼宇媒体\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(136, 136, 136); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">（电梯媒体广告）\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">、影院媒体和其他媒体等。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">其中，\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">楼宇媒体\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">贡献了八成以上的营收，是目前的核心业务：\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002F0b3cc860-3f20-4b50-ac60-1d4881a34c71.jpg\">\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">生活中，我们接触广告的渠道有很多，如报纸杂志、电视广播、机场高铁等。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">这些渠道的优点是覆盖人群广，但是缺点是「不够精准」，直到移动互联网兴起，利用算法技术才实现精准触达。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">相比上述媒体渠道，电梯广告有4大特征：\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">主流人群、必经、高频、低干扰。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">什么意思呢？\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">「主流人群」指的是生活在一二线城市的居民，大约覆盖了4亿左右人口，这些人群的收入水平比其他地区高，消费能力也相对较高。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">而「必经」和「高频」，说的是人们上下班必然要乘坐电梯，而且一天要上下好几次，可以说坐电梯是都市人群高频会做的事情；\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">最后是「低干扰」，由于电梯间是封闭空间没信号，加上时间很短，大部分人玩不了手机，也没办法干别的，这个时候有个屏幕播放画面，会吸引好奇的人耐心看完。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">当然，电梯广告的精准度，相对互联网广告要差一些，\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">但它的优势在于「重复高频」。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">广告界有一个「七次法则」，\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); background-color: rgb(255, 218, 169); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">如果消费者在短时间内看到7次同样的广告，那么这个品牌大概率会被记住。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">事实上，近年有不少新品牌，就是通过电梯广告轰炸，迅速打开市场。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">比如2018年，瑞幸咖啡依靠分众的电梯广告屏，高强度的持续投放，在北上广深一线城市打响了知名度。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">这两年各个传统媒体广告收入都在下降，只有梯媒广告收入还在增长，可见大家即便不看电视，不订报纸，但电梯还是要坐的，电梯广告还是有它不可替代的价值。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px 0em; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; text-decoration-thickness: initial; color: rgb(53, 53, 53); font-size: 14px; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: &quot;Helvetica Neue&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei&quot;, 黑体, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002Fcd94af9e-853c-4e0f-9c44-655256641e6b.jpg\">\u003C\u002Fp>\n      \u003Ch1 style=\"margin: 0px 16px; padding: 0px; outline: 0px; font-size: 17px; max-width: 100%; letter-spacing: 0.544px; text-decoration-thickness: initial; clear: both; min-height: 1em; display: block; color: rgb(51, 51, 51); text-align: center; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"color: rgb(214, 168, 65); margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">02\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fh1>\n      \u003Cp style=\"text-align:center; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; letter-spacing: 0.544px; text-align: justify; color: #d6a841;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">龙头依靠「先发优势」，建立规模效应\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; color: rgb(34, 34, 34); font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: system-ui, -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">假如你去附近的写字楼转一圈，你会发现，看到的基本上是分众的广告屏，很少有其他公司的。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 16px; font-family: arial, helvetica, sans-serif;\">为啥呢\u003C\u002Fspan>？\u003C\u002Fspan>\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">主要是因为分众做得最早\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 16px; font-family: arial, helvetica, sans-serif;\">。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">2003年分众传媒成立，这才诞生了「电梯媒体」这个行业，其他企业后知后觉，晚几年再入局，已经追不上了。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; background-color: rgb(255, 218, 169); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); background-color: rgb(255, 218, 169); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">分众传媒靠着「先发优势」，很容易就建立起一定的规模效应，阻挡竞争对手的进入。\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">它要做的就是，尽可能抢占地段好、人气高的优质楼宇电梯点位，建立网络矩阵，形成强大的推广能力，吸引大客户来投放；\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">随着广告业务收入不断增加，分众赚到的利润就会越多，然后它用这些钱，再去租更多的楼宇物业点位，进一步扩大自己的规模。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">其他后来者企业，拥有物业点位的数量不够多、不够优质，自然无法吸引到大客户，只能做一些中小客户的生意，赚的钱少了，也不利于进一步扩张优质点位。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">某种意义上，分众掌握了最优质的上游广告位，足以吸引到优质的下游客户，赚到钱后再投入到上游，继续扩张优质广告位，\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">形成一种「自我强化」。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">我看了下2021年年报，在楼宇媒体点位这块，分众传媒的规模优势遥遥领先，市场份额比第2-5位相加还多：\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002F900c94d0-2252-467d-abc4-f4e6edf01f82.jpg\">\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">分众传媒的龙头地位和赚钱能力，体现在财务数据上，就是它一直能保持\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">70%\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">左右的高毛利率：\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002F33269884-6de7-4905-b854-2781b5fefe8c.jpg\">\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">那为什么2019年，分众的毛利率会突然大幅下滑呢？\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px 0em; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; text-decoration-thickness: initial; color: rgb(53, 53, 53); font-size: 14px; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: &quot;Helvetica Neue&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei&quot;, 黑体, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002Ff4f3fa02-4ccc-4781-9e57-95fe1e60bfba.jpg\">\u003C\u002Fp>\n      \u003Ch1 style=\"margin: 0px 16px; padding: 0px; outline: 0px; font-size: 17px; max-width: 100%; letter-spacing: 0.544px; text-decoration-thickness: initial; clear: both; min-height: 1em; display: block; color: rgb(51, 51, 51); text-align: center; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"color: rgb(214, 168, 65); margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">03&nbsp;\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fh1>\n      \u003Cp style=\"text-align:center; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important; letter-spacing: 0.544px; text-align: justify; color: #d6a841;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">两大因素叠加，导致毛利率大幅下滑\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; color: rgb(34, 34, 34); font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: system-ui, -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">我们看一下毛利率的公式：\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(136, 136, 136); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">毛利率=(营业收入－营业成本)÷营业收入\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">公式上看，\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">营业收入\u003C\u002Fstrong>下降或\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">营业成本\u003C\u002Fstrong>上升，出现任一因素都会导致毛利率下滑；\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">假如两者同时出现，那么毛利率下滑得会更厉害。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">很不幸，财报上看，分众传媒同时满足了这2个条件：\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(214, 168, 65); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">1）营业收入下降\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cblockquote style=\"margin: 0px 16px; padding: 0px; outline: 0px; border-left: 3px solid rgb(219, 219, 219); color: rgb(51, 51, 51); font-size: 17px; max-width: 100%; letter-spacing: 0.544px; text-align: justify; text-decoration-thickness: initial; clear: both; min-height: 1em; display: block; background-color: rgb(255, 255, 255); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\n       \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); font-size: 17px; letter-spacing: 0.544px; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(136, 136, 136); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">2019年中国广告市场需求疲软，互联网类广告收入大幅缩减\u003C\u002Fspan>\u003C\u002Fp>\n      \u003C\u002Fblockquote>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">广告行业受宏观经济影响比较大\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); margin: 0px; padding: 0px; outline: 0px; max-width: 100%; font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">，经济繁荣时，各个商家的广告投入都在增加；\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">经济衰退时，部分行业纷纷收缩广告投入，导致广告公司收入减少。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">此前得益于互联网行业的高速发展，分众的第一大客户是\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">互联网企业\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">，营收占比达到38%左右；\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">2018年后，随着国内经济增速放缓，互联网企业的资金链紧张，广告投放大幅减少，占比下降到20%：\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; color: rgb(34, 34, 34); font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: system-ui, -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002F458caf75-8c00-4b9c-a165-6a5e9524606c.jpg\">\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; color: rgb(34, 34, 34); font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: system-ui, -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(214, 168, 65); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">2）营业成本上升\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cblockquote style=\"margin: 0px 16px; padding: 0px; outline: 0px; border-left: 3px solid rgb(219, 219, 219); color: rgb(51, 51, 51); font-size: 17px; max-width: 100%; letter-spacing: 0.544px; text-align: justify; text-decoration-thickness: initial; clear: both; min-height: 1em; display: block; background-color: rgb(255, 255, 255); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\n       \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); font-size: 17px; letter-spacing: 0.544px; line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(136, 136, 136); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">大幅度扩张电梯广告点位，花了不少钱\u003C\u002Fspan>\u003C\u002Fp>\n      \u003C\u002Fblockquote>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">2018年左右，新入局的\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">新潮传媒\u003C\u002Fstrong>，对分众发起了挑战。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">新潮避开了分众占据的一二线城市写字楼，而是从\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">「三线及以下城市」\u003C\u002Fstrong>和\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">「社区物业」\u003C\u002Fstrong>开始布局。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">分众发现这个威胁后，为了阻止竞争对手扩张，对原来不重视的区域也开始拓展点位。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">2018年，分众在三线及以下城市的广告点位增幅，高达180%左右：\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002F931aa415-a758-44f0-86f8-94c480b99e99.jpg\">\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">虽然2019年，因为行业不景气，两家公司停止疯狂扩张，主动砍掉一些广告位；\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">但点位数量仍然远多于前年，由于大量「烧钱」购买点位，也让营业成本蹭蹭上升。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">总结一下——\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">一方面是\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">互联网大客户突然减少\u003C\u002Fstrong>，导致营业收入下降；\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">另一方面是\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">大幅扩张电梯广告位\u003C\u002Fstrong>，造成营业成本上升。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">两者叠加，让分众的毛利率大幅下滑。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">为了摆脱困境，分众积极调整大客户结构，从互联网变成了元气森林这类\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">日常消费品\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">，弥补了收入，另一方面\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; letter-spacing: 1px; caret-color: rgb(51, 51, 51); color: rgb(214, 168, 65); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">优化点位数量分布\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">，降低成本；\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">此后，分众传媒的毛利率又逐渐恢复到\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">60%\u003C\u002Fstrong>多，公司总算熬过了艰难时刻，也守住了行业老大的地位。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"font-size: 16px; font-family: arial, helvetica, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">最后再提醒一下，\u003C\u002Fspan>\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); background-color: rgb(255, 218, 169); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cstrong style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; box-sizing: border-box !important; overflow-wrap: break-word !important;\">广告行业受宏观经济的影响较大，一旦经济环境不好，商家会减少广告投放预算，广告公司同样会面临收入减少的压力。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">因此，如果你要投资广告行业，最好是避开经济下行周期，选择在经济上行周期参与。\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">好啦，关于分众传媒就先和你聊到这里。最后做了一张总结图，看完感觉不错，可以收藏下来。你有哪些收获呢，欢迎在评论区聊一聊哦\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cspan style=\"margin: 0px; padding: 0px; outline: 0px; max-width: 100%; color: rgb(34, 34, 34); letter-spacing: 1px; caret-color: rgb(51, 51, 51); font-size: 16px; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: arial, helvetica, sans-serif;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n      \u003Cp style=\"text-align:justify; vertical-align: inherit; margin: 0px 16px; padding: 0px; outline: 0px; max-width: 100%; clear: both; min-height: 1em; font-size: 17px; letter-spacing: 0.544px; text-decoration-thickness: initial; display: block; color: rgb(51, 51, 51); line-height: 2em; box-sizing: border-box !important; overflow-wrap: break-word !important; font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;\">\u003Cimg class=\"rich_pages wxw-img\" alt=\"图片\" src=\"https:\u002F\u002Fimage.jane7.com\u002F6de00766-54ff-4038-b399-e46ae2a21717.jpg\">\u003C\u002Fp>\n      \u003Cp style=\"vertical-align:inherit;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"vertical-align:inherit;\">\u003Cbr>\u003C\u002Fp>\n      \u003Cp style=\"vertical-align:inherit;\">\u003Cbr>\u003C\u002Fp>\n     \u003C\u002Fsection>\n    \u003C\u002Fsection>\n   \u003C\u002Fsection>\n  \u003C\u002Fsection>\n \u003C\u002Fsection>\n\u003C\u002Fsection>","2022-09-05 17:00:00","2022-09-05 17:30:00",100,0,"lixinyue@jane7.com","gaowen@jane7.com","2022-09-05 11:36:19",72,false,14857,2,"1038002",[],[],11,[],[],[]]