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<p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 19.6923px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><img class="" data-ratio="0.03125" src="http://mmbiz.qpic.cn/mmbiz/yqVAqoZvDibG84oQ3rQ0C1bdcgrh9SZUjEJPA1uZKvPniaEdW29BvL3WKH42XQH3rmm4esHUjlSqKknibb1icogC8w/640?wx_fmt=png" data-type="png" data-w="640" style="line-height: 1.6; width: 669.988px; box-sizing: border-box !important; word-wrap: break-word !important; visibility: visible !important;" width="100%" /></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 又一个行业亟待爆发，资本闻风而动。其实早在去年（</span>2015<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">年）中国医疗健康的市场规模已超</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">4</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">万亿人民币，业内预计</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">5</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">年后即</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">2020</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">年，这个规模将达</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">8-10</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">万亿元。如此巨大的市场、高速的成长，医疗健康行业自然成为资本追逐的热点。怪乎马云要说，未来首富一定会出在医疗大健康行业。那么，在这一领域深耕多年、斩获颇丰的知名投资人又如何看待产业的发展？具体有哪些领域是突破的重点？今天小欧请来中欧校友、分享投资管理合伙人黄反之来做深度解读。</span></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"> </span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 天时、地利、人和</span>+<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">资本医疗大健康行业爆发</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">ing</span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 作为全球第二大经济体，中国的人均医疗支出占</span>GDP<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">的比重，按官方统计，仅排名全球第十二（下图），这一比重事实上估计在三、四十名开外。这说明，中国的人均医疗水平和经济地位是不相符的，也恰恰说明中国的医疗支出还有很大的增长空间。</span></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 19.6923px; text-align: center; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; color: rgb(136, 136, 136); font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><img class="" data-ratio="0.41878980891719747" src="http://mmbiz.qpic.cn/mmbiz_jpg/5hqJLZoOMjUzs9dib40DuvtWqyHeRJylg4kKWsVrRrIqOYibRTcI9zhOiaCFKa29aicgV2KlFFdNqhP9dTvtIJj1ibQ/640?wx_fmt=jpeg" data-type="jpeg" data-w="628" style="color: rgb(62, 62, 62); font-family: 微软雅黑, 'Microsoft YaHei'; font-size: 16px; line-height: 25.6px; box-sizing: border-box !important; word-wrap: break-word !important; visibility: visible !important; width: auto !important;" title="1.jpeg" width="auto" /></span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 19.6923px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 医疗支出国家前十名（</span>2008-2012<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">）。数据来源：中华人民共和国国家卫生和计划生育委员会，世界银行</span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 天时，医疗健康产业的发展恰逢其时。在大众创业、万众创新的政策驱动下，我国针对新药研发、器械创新和生物技术方面都出台了大量支持政策，各地新建了大量产业园区，搭建绿色通道，这些对医疗健康产业的发展都将起到巨大的推动作用。</span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 地利，地方医疗健康群集效应凸显。目前在北上广深和苏州这些城市已经形成了医疗健康群集的效应：在深圳形成了以华大基因为龙头的生物技术集群和以迈瑞医疗为首的医疗器械集群；在苏州有以高新区、苏州工业园为首的主要是涵盖生物技术和</span>IVD<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">（体外诊断）检测的集群；上海在张江高科技园区形成了以新药和器械为主的集群；在北京形成了以生物技术、新药研发、器械综合性的产业集群。这些产业集群的发展和成熟，其实也意味着医疗健康行业产业链的完善。</span></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"> </span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 人和，行业发展的核心力量。创业也好、投资也罢，行业发展的关键的核心还在</span>“人”。在这方面，我们也看到了可喜的变化。事实上，如果在五年前在中国谈新药，其实根本无从谈起，因为那个时候我们没有一个真正的新药，这些年随着大批海归的回归特别是千人计划的持续实施，我们在新药研发、生物器械方面出现了令人欣喜的变化。过去这两年我们出现了像贝达、信达这样的新药研发企业，他们出品的新药获得了国际上的认可，中国人在新药研发上开始占据一席之地，而这种趋势还在不断加速。</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 19.6923px; text-align: center; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><img class="" data-ratio="0.6172839506172839" src="http://mmbiz.qpic.cn/mmbiz_jpg/5hqJLZoOMjUzs9dib40DuvtWqyHeRJylg8pkRIYiceABicLLiaOPcNJtiaSzytXaNiaYIVZSiav78POicIN9eIy9fx0JJg/640?wx_fmt=jpeg" data-type="jpeg" data-w="486" style="font-family: 微软雅黑, 'Microsoft YaHei'; line-height: 25.6px; box-sizing: border-box !important; word-wrap: break-word !important; visibility: visible !important; width: auto !important;" title="2.jpeg" width="auto" /></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 19.6923px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important;"> 我国医疗资源人均供给相对发达国家显著稀缺。数据来源：中华人民共和国国家卫生和计划生育委员会，世界银行</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 资本市场对行业发展的支持不容小觑。另外我们也不能忽视来自于中国资本市场的支持。过去的</span>A<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">股市场它首先要求的是财务指标，而对于创新类企业，特别是新药研发和生物技术类，可能要面临长期的没有现金流的阶段。新三板的推出对这类创新企业能起到很大的鼓励和支持作用。</span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 很多人认为新三板没有价值，我并不认同。举个例子，上海张江有一个生物制药公司</span>2014<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">年</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">8</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">月挂牌到</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">2015</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">年的</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">2</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">月，六个月时间里融资</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">4</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">次，每次都</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">1</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">个多亿，公司估值超过</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">40</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">亿。如果没有新三板，这样的企业到哪里去融资？急缺资金的企业又如何取得进一步发展？</span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 新三板在一定程度上很像美国的纳斯达克，它已经在资本的梯次上形成了一个机制，形成了对高风险科技创新企业的梯次性支持，也为</span>VC<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">投资生物医药创新企业提供了一个退出通道。美国的纳斯达克在临床二期的新药最高估值可达</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">17</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">亿美金，临床三期的新药最高估值可超</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">70</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">亿美金。这样的情景有望发生在中国的未来。</span></span></p><blockquote class="" data-author="易点微信编辑器" data-url="http://wxedit.yead.net" style="margin: 5px auto; padding-left: 0px; max-width: 100%; border: 0px; color: rgb(62, 62, 62); white-space: normal; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><section style="max-width: 100%; display: inline-block; box-sizing: border-box !important; word-wrap: break-word !important;"><section style="max-width: 100%; display: inline-block; box-sizing: border-box !important; word-wrap: break-word !important;"><section class="" style="padding-right: 10px; padding-left: 10px; max-width: 100%; box-sizing: border-box; height: 34px; color: rgb(255, 255, 255); line-height: 30px; float: left; word-wrap: break-word !important; background-color: rgb(78, 153, 223);"><span style="max-width: 100%; color: inherit; box-sizing: border-box !important; word-wrap: break-word !important;">未来医疗健康行业，重点关注这5大领域！</span></section><section style="max-width: 100%; float: left; box-sizing: border-box !important; word-wrap: break-word !important;"><section class="" style="max-width: 100%; border-top-width: 34px; border-top-style: solid; border-top-color: rgb(78, 153, 223); border-left-width: 0px; border-left-style: solid; border-left-color: transparent; border-right-width: 20px; border-right-style: solid; border-right-color: transparent; height: 0px; width: 0px; float: left; opacity: 0.8; box-sizing: border-box !important; word-wrap: break-word !important;"></section><section class="" style="margin-left: -20px; max-width: 100%; border-bottom-width: 34px; border-bottom-style: solid; border-bottom-color: rgb(78, 153, 223); border-left-width: 0px; border-left-style: solid; border-left-color: transparent; border-right-width: 20px; border-right-style: solid; border-right-color: transparent; height: 0px; width: 0px; float: left; opacity: 0.8; box-sizing: border-box !important; word-wrap: break-word !important;"></section></section></section></section></blockquote><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; color: rgb(255, 104, 39); box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; line-height: 1.6; box-sizing: border-box !important; word-wrap: break-word !important;"></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">1.生物技术（</span><span style="max-width: 100%; font-size: 14px; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">BT</span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">）</span></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"> </span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 我们认为，生物技术接下来会沿着两条主线发展，一条是基因技术，包括基因编辑、基因治疗、基因早筛、基因靶向药都是很好的方向；另一条是蛋白工程，它在未来的应用场景有很多，创新生物药主要就是各种抗体药物。</span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 目前生物医疗大数据的发展滞后于生物技术的发展，而未经处理的大数据往往是没有价值的，能否将海量的数据转变成医生、患者和药厂等单位可应用可操作的产品，这将是个严峻的挑战。这就是为什么我们在美国可以看到有像</span>PATIENTLIKEME<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">、</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">23andME</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">、美国国家肿瘤数据库等一批从事生物医疗大数据的公司，他们的创立时间都是</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">2014</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">年以后，而估值都已超过</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">10</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">亿美金。我相信，未来这些从事生物医疗大数据的公司将迎来很好的机会。</span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 值得一提的是，</span>IVD<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">（体外诊断设备）和</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">POCT</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">（即时诊断）是近年来医疗市场增长最快的细分市场，全球增速在</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">10%</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">左右，在中国对增速更是超过</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">20%</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">。两者目前属于医疗器械领域，我们认为未来它们将向生物技术和生物制药的方向靠拢。</span></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; color: rgb(255, 104, 39); font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; line-height: 1.6; box-sizing: border-box !important; word-wrap: break-word !important;"></span>2.<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">生物大数据</span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-size: 14px; font-family: 宋体; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /> 生物大数据服务于生物技术发展，帮助医生、患者、专业机构、保险公司、公共卫生部门看懂生物数据，将生物数据变成可视化产品，也很有价值。目前生物医疗大数据的发展滞后于生物技术的发展，而未经处理的大数据往往是没有价值的，这将导致许多生物医学技术成果无法转变为精准医学的有效应用。</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"></span><span style="max-width: 100%; color: rgb(255, 104, 39); box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; line-height: 1.6; box-sizing: border-box !important; word-wrap: break-word !important;"></span>3.<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">生物医药</span></span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 在医药行业，我们比较看好生物药。化学药要再发现一些高成药性的结构式已经很不容易了，相对而言，去年全球销量前十名的药物，有</span>7<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">个是生物药。我们很看好未来中国新药的发展，特别是一些靶向、肿瘤药物，一些针对心脏病、癌症、糖尿病等大病种治疗的新药。</span></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"> </span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"></span><span style="max-width: 100%; color: rgb(255, 104, 39); box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; line-height: 1.6; box-sizing: border-box !important; word-wrap: break-word !important;"></span>4.<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">医疗器械</span></span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 在医疗器械行业，我们看好的具体领域包括：</span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /> ①微创类器械。能用微创手术解决的，就不会再用切开手术。<br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /> ②神经调控。神经调控对全球都是难题，哪一家能突破就有很大的市场机遇。<br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /> ③再生医学。相当于生物技术与创新型器械的结合，比如人工打印细胞甚至是活体组织、器官，有望未来<span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">5-10</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">年进入临床。</span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /> ④细胞技术。虽然“魏则西事件”给细胞治疗带来阴影，但不可否认的是，细胞技术是国际公认的方向，一定会得到更多临床应用。<br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /> ⑤医疗机器人。包括手术机器人、康复机器人都有很大市场，关键是如何让成本更低，更轻量化，更便携化，电池续航更长，与人体的欢动性更好，操作更加简单。这些问题一旦解决，医疗机器人就能进入大规模应用阶段。</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"> </span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"></span><span style="max-width: 100%; color: rgb(255, 104, 39); box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; line-height: 1.6; box-sizing: border-box !important; word-wrap: break-word !important;"></span>5.<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">医疗服务</span></span></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 在这一领域，我们更看好有真正模式创新的公司。医生集团这两年很热，主要分为两大类：一类是体制内的医生集团，由于不是</span>All-in<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">（全力以赴）的，也不需要商业模式，不在我们讨论范围内。另一类是完全脱离体制的医生集团，比如张强医生集团本生就是一种医疗服务模式创新，完全脱离体制的医生们集合在一起，用完全不同于公立医院的方式，让医生这个核心资源社会价值最大化。</span></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"><img class="" data-ratio="1.0033222591362125" src="http://mmbiz.qpic.cn/mmbiz_jpg/5hqJLZoOMjUzs9dib40DuvtWqyHeRJylgSJljl9kvPxgrBtEZVSfFzzyFsLclgTAVKibpsQh5xqvlvcaxAYIeAaA/640?wx_fmt=jpeg" data-type="jpeg" data-w="602" style="font-size: 16px; line-height: 25.6px; text-align: center; box-sizing: border-box !important; word-wrap: break-word !important; visibility: visible !important; width: auto !important;" title="4.jpeg" width="auto" /></span></span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"></span></span></p><blockquote class="" data-author="易点微信编辑器" data-url="http://wxedit.yead.net" style="margin: 5px auto; padding-left: 0px; max-width: 100%; border: 0px; color: rgb(62, 62, 62); white-space: normal; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><section style="max-width: 100%; display: inline-block; box-sizing: border-box !important; word-wrap: break-word !important;"><section style="max-width: 100%; display: inline-block; box-sizing: border-box !important; word-wrap: break-word !important;"><section class="" style="padding-right: 10px; padding-left: 10px; max-width: 100%; box-sizing: border-box; height: 34px; color: rgb(255, 255, 255); line-height: 30px; float: left; word-wrap: break-word !important; background-color: rgb(78, 153, 223);"><span style="max-width: 100%; color: inherit; box-sizing: border-box !important; word-wrap: break-word !important;">移动医疗布局，抓住这四个象限！</span></section><section style="max-width: 100%; float: left; box-sizing: border-box !important; word-wrap: break-word !important;"><section class="" style="max-width: 100%; border-top-width: 34px; border-top-style: solid; border-top-color: rgb(78, 153, 223); border-left-width: 0px; border-left-style: solid; border-left-color: transparent; border-right-width: 20px; border-right-style: solid; border-right-color: transparent; height: 0px; width: 0px; float: left; opacity: 0.8; box-sizing: border-box !important; word-wrap: break-word !important;"></section><section class="" style="margin-left: -20px; max-width: 100%; border-bottom-width: 34px; border-bottom-style: solid; border-bottom-color: rgb(78, 153, 223); border-left-width: 0px; border-left-style: solid; border-left-color: transparent; border-right-width: 20px; border-right-style: solid; border-right-color: transparent; height: 0px; width: 0px; float: left; opacity: 0.8; box-sizing: border-box !important; word-wrap: break-word !important;"></section></section></section></section></blockquote><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; font-family: 宋体; box-sizing: border-box !important; word-wrap: break-word !important;"> 移动医疗是这两年非常热的话题，关于这一领域的布局，我们有自己的看法，和市场上的热点并不一致。在我看来，值得投资的移动医疗要能被画进这四个象限中的任意一个，并且要往深里走，要能产生现金流。<br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-size: 14px; color: rgb(255, 104, 39); font-family: 宋体; box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; line-height: 22.4px; box-sizing: border-box !important; word-wrap: break-word !important;"></span>细分领域切入<br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /></span><span style="max-width: 100%; font-family: 宋体; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;"><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 抓住医疗资源核心（至少在未来</span>5-10<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">年，医疗资源的核心还是好医院好医生）</span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; color: rgb(255, 104, 39); box-sizing: border-box !important; word-wrap: break-word !important;"><span style="max-width: 100%; line-height: 22.4px; box-sizing: border-box !important; word-wrap: break-word !important;"></span>重度垂直</span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 能产生现金流（能够解决用户的刚需，产生黏性，让用户</span>/<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">医院愿意付费）</span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 我们看到现在市场上很多热点的移动医疗公司，估值很高、知名度很大，但活得很艰难，就算天天烧钱，坐拥几千万用户也产生不了现金流，原因就是它们不符合上面的几点，即没有抓住医疗资源核心，未能解决刚需，不能产生粘性，因此没人愿意付费。</span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 而围绕这四个象限开展事业的公司皆有不俗表现：例如扁鹊飞救，它从三甲医院这个核心资源切入，医院和患者都愿意付费，俨然已成为全国胸痛中心的领跑者。</span><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><br style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;" /><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;"> 再如华夏病理网，它抓住的是病理医生这个稀缺资源，中国的病理医生人数，如果按照美国的人口配比应该有</span>10<span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">万以上，但真实数据是仅</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">1</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">万不到，其中的</span><span style="max-width: 100%; font-family: Calibri; box-sizing: border-box !important; word-wrap: break-word !important;">90%</span><span style="max-width: 100%; box-sizing: border-box !important; word-wrap: break-word !important;">在华夏病理。掌握了这种稀缺资源，就一定有机会改变现有病理服务的市场和业态。</span></span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 16px; line-height: 21px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><img class="" data-ratio="0.03125" src="http://mmbiz.qpic.cn/mmbiz/yqVAqoZvDibG84oQ3rQ0C1bdcgrh9SZUjEJPA1uZKvPniaEdW29BvL3WKH42XQH3rmm4esHUjlSqKknibb1icogC8w/640?wx_fmt=png" data-type="png" data-w="640" style="line-height: 1.6; width: 669.988px; box-sizing: border-box !important; word-wrap: break-word !important; visibility: visible !important;" width="100%" /></p><p><br /></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-family: Arial, Verdana, sans-serif; font-size: 14px; line-height: 24px; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(249, 249, 249);">广州市设备维修有限公司</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">地址：广州市天河区银利街银利茶叶博览中心E栋4楼E4030室 </span><span style="font-size: 14px; line-height: 1.75em;"> </span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="font-size: 14px; line-height: 1.75em;">邮编：510507</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">电话：(+86)020-8722 8723 8764 5360 8764 2943 </span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">传真：020-8722 8623</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">全国统一免费服务热线：400-020-6788</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">微信公众帐号：</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><img data-ratio="1" data-type="jpeg" data-w="120" width="auto" src="http://mmbiz.qpic.cn/mmbiz/dx3KibwtDhvfCZvZq5PcthnDKlnnq3AalhbichW77J3B70osicTickklZybNKUZqc44DZ0oaWaHm2p0TaA9478icwPg/640?wx_fmt=jpeg" style="box-sizing: border-box !important; word-wrap: break-word !important; width: auto !important; visibility: visible !important;" /></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">维修咨询：QQ: 712638 404</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">设备咨询: QQ: 712638 405</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">软件咨询：QQ: 712638 406</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">配件咨询：QQ: 712638 407</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">交流Q群：1106 11074</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">网址：http://www.yiliaoshebeiweixiu.com</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><span style="max-width: 100%; font-size: 14px; box-sizing: border-box !important; word-wrap: break-word !important;">电子邮箱：service@yiliaoshebeiweixiu.com</span></p><p style="max-width: 100%; min-height: 1em; color: rgb(62, 62, 62); font-size: 12px; font-family: Arial, Verdana, sans-serif; line-height: 1.75em; box-sizing: border-box !important; word-wrap: break-word !important; background-color: rgb(255, 255, 255);"><br /></p>
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发表于 2020-10-19 23:42:18