2012年电商死亡报告：资金缺口仅是表象

c榕彰方a

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http://www.youdao.com/example/oral/%e5%a4%96%e6%8e%a8%e6%8e%92%e5%90%8d%e6%94%b6%e5%bd%95%e4%bb%a3%e5%8f%91%e5%a4%9a%e5%b0%91%e9%92%b1+%e6%89%a3%e6%89%a33260887762%e6%81%8b/
http://www.youdao.com/example/written/%e7%99%be%e5%ba%a6%e5%b9%bf%e5%91%8a%e5%a4%96%e6%8e%a8%e6%8e%92%e5%90%8d%e4%bb%a3%e5%81%9a%e5%a4%9a%e5%b0%91%e9%92%b1+%e6%89%a33260887762%e4%bf%8a/
http://www.youdao.com/example/paper/%e6%80%8e%e4%b9%88%e5%81%9a%e5%a4%96%e6%8e%a8%e5%a5%bd%e6%8e%a5%e5%8d%95%20%e6%8a%a0%e6%8a%a03260887762%e5%b7%a1/
http://www.youdao.com/example/mdia/%e5%85%8d%e8%b4%b92018%e8%9c%98%e8%9b%9b%e6%b1%a0%e8%bd%af%e4%bb%b6%e5%85%8d%e8%b4%b9%20%e6%89%a33260887762%e7%93%a6/
http://www.youdao.com/example/mdia/audio/%e7%99%be%e5%ba%a6%e5%b9%bf%e5%91%8a%e6%8e%92%e5%90%8d%e5%b8%96%e5%ad%90%e4%bb%a3%e5%81%9a%e5%a4%9a%e5%b0%91%e9%92%b1%20%e6%89%a33260887762%e9%a2%87/
http://www.youdao.com/example/mdia/video/%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95%e6%94%b6%e5%bd%95%e8%a7%84%e5%88%99+%e6%89%a3%e6%89%a33260887762%e9%b1%bc/
http://www.youdao.com/example/auth/%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95%e8%bd%af%e4%bb%b6%e8%b4%ad%e4%b9%b0%20%e6%89%a3%e6%89%a33260887762%e6%89%93/
http://www.youdao.com/w/fr/%e6%96%b0%e6%b5%aa%e4%bb%a3%e5%8f%91%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95+%e6%8a%a0%e6%8a%a03260887762%e5%a6%88/
http://www.youdao.com/w/ko/%e5%a4%96%e6%8e%a8%e8%bd%af%e4%bb%b6%e4%bb%a3%e5%8f%91%20%e6%8a%a0%e6%8a%a03260887762%e7%81%8c/
http://www.youdao.com/w/jap/%e6%80%8e%e4%b9%88%e5%81%9a%e7%99%be%e5%ba%a6%e5%b9%bf%e5%91%8a%e7%95%99%e7%97%95%e6%8e%92%e5%90%8d%e4%bb%a3%e5%81%9a%20%e6%8a%a03260887762%e8%8c%b6/
http://www.youdao.com/example/%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95%e6%8a%80%e6%9c%af+%e6%89%a33260887762%e8%91%a3
http://www.youdao.com/example/oral/%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95%e5%a4%96%e6%8e%a8%e5%b9%b3%e5%8f%b0%20%e6%8a%a0%e6%8a%a03260887762%e7%83%b9
http://www.youdao.com/example/written/%e5%81%9a%e5%a4%96%e6%8e%a8%e6%89%be%e8%b0%81%e9%9d%a0%e8%b0%b1+%e6%8a%a0%e6%8a%a03260887762%e5%b9%b4
http://www.youdao.com/example/paper/%e7%95%99%e7%97%95%e6%95%99%e7%a8%8b%20%e6%8a%a03260887762%e6%9d%be
http://www.youdao.com/example/mdia/%e7%99%be%e5%ba%a6%e7%95%99%e7%97%95%e5%b8%96%e5%ad%90%e4%bb%a3%e5%8f%91%e6%89%be%e8%b0%81+%e6%8a%a0%e6%8a%a03260887762%e4%b9%98
http://www.youdao.com/example/mdia/audio/%e7%95%99%e7%97%95%e8%bd%af%e4%bb%b6%e5%b7%a5%e4%bd%9c%e5%ae%a4%20%e6%89%a33260887762%e8%b4%a1
http://www.youdao.com/example/mdia/video/%e7%99%be%e5%ba%a6%e7%95%99%e7%97%95%e6%94%b6%e5%bd%95%e4%bb%a3%e5%81%9a%e5%a4%9a%e5%b0%91%e9%92%b1+%e6%89%a33260887762%e6%af%8f
http://www.youdao.com/example/auth/%e6%96%b0%e6%b5%aa%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95%20%e6%8a%a0%e6%8a%a03260887762%e8%a9%b9
http://www.youdao.com/w/fr/%e5%85%8d%e8%b4%b92018%e8%9c%98%e8%9b%9b%e6%b1%a0%e8%bd%af%e4%bb%b6%e5%85%8d%e8%b4%b9+%e6%8a%a0%e6%8a%a03260887762%e5%ae%9d
http://www.youdao.com/w/ko/%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95%e8%bd%af%e4%bb%b6CK%e8%b4%a6%e5%8f%b7%e6%9c%89%e6%b2%a1%e6%9c%89+%e6%8a%a0%e6%8a%a03260887762%e8%b0%a3
http://www.youdao.com/w/jap/%e5%93%aa%e9%87%8c%e6%89%be%e7%99%be%e5%ba%a6%e7%95%99%e7%97%95%e5%b8%96%e5%ad%90%e6%8e%92%e5%90%8d%e4%bb%a3%e5%8f%91%20%e6%89%a33260887762%e9%a2%86
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https://www.youdao.com/example/oral/%e8%9c%98%e8%9b%9b%e6%b1%a0%e6%90%ad%e5%bb%ba+%20%e6%89%a3%e6%89%a33260887762%e9%98%b2/
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https://www.youdao.com/example/mdia/%e8%b1%86%e7%93%a3%e5%8f%91%e5%b8%96%e8%bd%af%e4%bb%b6%20%e6%89%a33260887762%e6%88%8c/
https://www.youdao.com/example/mdia/audio/2019%e8%b6%85%e7%ba%a7%e8%9c%98%e8%9b%9b%e6%b1%a0%e7%ab%99%e7%be%a4%20%e6%89%a3%e6%89%a33260887762%e4%bd%a0/
https://www.youdao.com/example/mdia/video/%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95%e5%a4%96%e6%8e%a8%e4%b9%b0+%e6%89%a3%e6%89%a33260887762%e9%80%8f/
https://www.youdao.com/example/auth/%e7%99%be%e5%ba%a6%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95+%e6%8a%a03260887762%e4%b9%83/
https://www.youdao.com/w/fr/%e7%99%be%e5%ba%a6%e5%b9%bf%e5%91%8a%e6%8e%92%e5%90%8d%e5%b8%96%e5%ad%90%e4%bb%a3%e5%8f%91%e6%89%be%e8%b0%81%20%e6%8a%a03260887762%e8%a6%81/
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https://www.youdao.com/example/oral/%e5%8f%b0%e5%8c%97%e5%93%aa%e9%87%8c%e6%9c%89%e4%ba%ba%e4%bb%a3%e5%81%9a%e7%81%b0%e8%89%b2%e8%af%8d%e6%8e%92%e5%90%8d+%e6%89%a3%e6%89%a33260887762%e7%8e%84
https://www.youdao.com/example/written/%e6%90%9c%e7%b4%a2%e7%95%99%e7%97%95%e5%bf%ab%e7%85%a7%20%e6%89%a33260887762%e9%92%a9
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https://www.youdao.com/example/mdia/%e7%81%b0%e8%89%b2%e8%a1%8c%e4%b8%9a%e7%95%99%e7%97%95%e9%9c%b8%e5%b1%8f%e6%8e%a8%e5%b9%bf%e4%bb%a3%e5%8f%91+%e6%89%a33260887762%e9%bb%8d
https://www.youdao.com/example/mdia/audio/%e7%81%b0%e8%89%b2%e8%a1%8c%e4%b8%9a%e5%a4%96%e6%8e%a8%e6%94%b6%e5%bd%95%e6%8e%92%e5%90%8d%e4%bb%a3%e5%81%9a%20%e6%89%a3%e6%89%a33260887762%e9%ab%93
https://www.youdao.com/example/mdia/video/%e6%90%9c%e7%8b%97%e7%b9%81%e6%ae%96%e6%b1%a0%20%e6%89%a3%e6%89%a33260887762%e8%a3%b3
https://www.youdao.com/example/auth/%e6%89%be%e9%ab%98%e6%89%8b%e7%99%be%e5%ba%a6%e5%b9%bf%e5%91%8a%e6%8e%92%e5%90%8d%e5%bf%ab%e7%85%a7%e6%94%b6%e5%bd%95%e4%bb%a3%e5%81%9a+%e6%89%a33260887762%e9%80%8f
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https://www.youdao.com/w/jap/%e7%99%be%e5%ba%a6%e5%b9%bf%e5%91%8a%e7%95%99%e7%97%95%e6%94%b6%e5%bd%95%e4%bb%a3%e5%8f%91%e8%bd%af%e4%bb%b6%20%e6%8a%a03260887762%e5%b8%85