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2021-08-04

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Is the era of Alibaba's high growth over?<blockquote>阿里巴巴-SW高增长时代结束了吗？</blockquote>

China's Alibaba Group Holding Ltd missed analyst estimates for first-quarter revenue on Tuesday. BUS

Is the era of Alibaba's high growth over?<blockquote>阿里巴巴-SW高增长时代结束了吗？</blockquote>

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In the fourth quarter, the unit's revenue surged more than 70%.</li>  <li>Non-GAAP net income was RMB43,441 million (US$6,728 million), an increase of 10% year-over-year, over estimates for 29.3 billion yuan. On an adjusted basis, the company earned 16.60 yuan per share, above estimates for 14.43 yuan.</li>  <li>Annual active consumers of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended June 30, 2021, an increase of 45 million from the twelve months ended March 31, 2021. This includes 912 million consumers in China1 and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.</li> </ul> If we focus on specific businesses, we can see that the growth of this financial report is mainly from the core e-commerce part</p><p><blockquote><ul><li>总体而言，截至6月30日的第一季度收入增长约34%，至2057.4亿元人民币（合318.3亿美元），低于预期的2093.9亿元人民币；阿里巴巴-SW本季度核心商务收入增长约35%，至1802.4亿元人民币，高于预期1842.3亿元人民币。第四季度，该部门的收入飙升了70%以上。</li><li>非公认会计准则净利润为人民币434.41亿元（67.28亿美元），同比增长10%，高于预期的293亿元。调整后，该公司每股收益16.60元，高于预期的14.43元。</li><li>截至2021年6月30日止十二个月，阿里巴巴-SW生态系统在全球的年度活跃消费者达到约11.8亿，较截至2021年3月31日止十二个月增加4500万。这包括Lazada、速卖通、Trendyol和Daraz服务的中国9.12亿消费者1和海外2.65亿消费者。</li></ul>如果聚焦到具体业务，可以看到这份财报的增长主要来自于核心的电商部分</blockquote></p><p> <ul>  <li>Total commerce revenue was 180.2 billion yuan, a year-on-year increase of 35%.</li>  <li>Revenue from cloud computing business was 16.05 billion yuan, a year-on-year increase of 29%.</li>  <li>Revenue from Digital Media and Entertainment was RMB 8.073 billion, a year-on-year increase of 15%.</li>  <li>Revenue from innovation initiatives and others was RMB 1.375 billion, a year-on-year increase of 37%.</li> </ul> <h4>Growth slowdown</h4> Compared with cloud computing, digital media, e-commerce business is the main driving force driving the growth of Alibaba's business, but this time the e-commerce business also has hidden concerns. As mentioned in the last quarter, the reason for Alibaba’s revenue surge this time was mainly from other revenues. This part of revenue reached a staggering 54.8 billion yuan, an increase of 82% year-on-year, and this part of revenue was mainly due to the Oct. 2020 consolidation of Sun Art.</p><p><blockquote><ul><li>商业总收入1802亿元，同比增长35%。</li><li>云计算业务营收160.5亿元，同比增长29%。</li><li>数字媒体及娱乐收入为人民币80.73亿元，同比增长15%。</li><li>创新举措及其他收入为人民币13.75亿元，同比增长37%。</li></ul><h4>增长放缓</h4>与云计算、数字媒体相比，电商业务是推动阿里巴巴-SW业务增长的主要动力，但这一次电商业务也存在隐忧。正如上个季度提到的，阿里巴巴-SW此次营收激增的原因主要来自其他收入。这部分营收达到了惊人的548亿元，同比增长了82%，而这部分营收主要得益于高鑫2020年10月并表。</blockquote></p><p> In the financial report, Alibaba also mentioned that if the revenue from Sun Art’s consolidation is deducted, Alibaba’s total revenue is 187.3 billion yuan, a year-on-year increase of only 22%, and core e-commerce revenue is 161.8 billion yuan, a year-on-year increase of 21 %.</p><p><blockquote>在财报中，阿里巴巴-SW还提到，如果扣除高鑫并表的收入，阿里巴巴-SW总营收1873亿元，同比仅增长22%，核心电商营收1618亿元，同比增长21%。</blockquote></p><p> Facing the increasingly fierce competition in the Chinese e-commerce market , the company has increased its investment to support its retail platforms. Although Alibaba still leads the industry, Pduoduo Inc. (PDD), Byteance Ltd.'s short video platform Douyin and Tencent Holdings Ltd.’S social media application WeChat and other e-commerce competitors have reached consumers with new and innovative ways and gained market share.</p><p><blockquote>面对中国电商市场日益激烈的竞争，公司加大了对零售平台的支持力度。尽管阿里巴巴-SW仍处于行业领先地位，但Pduoduo Inc.（PDD）、字节跳动有限公司的短视频平台抖音和腾讯控股控股有限公司的社交媒体应用微信以及其他电子商务竞争对手已经通过新的创新方式接触消费者并获得了市场份额。</blockquote></p><p> Earlier this year, Alibaba stated that all incremental profits will be used to improve its platform, acquire new users and support merchants. On Tuesday, Alibaba said it will continue to make some investments that have already driven growth in key areas such as grocery shopping and consumers in lower-tier cities.</p><p><blockquote>今年早些时候，阿里巴巴-SW表示，所有增量利润将用于改善其平台、获取新用户和支持商家。周二，阿里巴巴-SW表示，将继续进行一些投资，这些投资已经推动了食品杂货购物和低线城市消费者等关键领域的增长。</blockquote></p><p> Investors had hoped that Alibaba's cloud computing business could drive growth, but the boost of this business slowed down. Alibaba said that its cloud computing business revenue increased by 29% year-on-year, but it was still dragged down by the loss of a major customer, a person familiar with the matter said the customer was Bytedance Inc..</p><p><blockquote>投资者曾希望阿里巴巴-SW的云计算业务能够推动增长，但该业务的提振作用放缓。阿里巴巴-SW表示，其云计算业务收入同比增长29%，但仍受到失去一个主要客户的拖累，一位知情人士称该客户是字节跳动公司。</blockquote></p><p> The Wall Street Journal reported that the department also encountered difficulties in obtaining new contracts and arranging related meetings because regulators are reviewing its e-commerce business and sister company Ant Group Co.</p><p><blockquote>《华尔街日报》报道称，该部门在获得新合同和安排相关会议方面也遇到了困难，因为监管机构正在审查其电子商务业务和姐妹公司蚂蚁集团公司。</blockquote></p><p> Growth slowed in most of Alibaba’s major divisions from cloud to e-commerce, underlining fears that the mounting list of new government regulations is constraining expansion and increasing companies’ burdens.</p><p><blockquote>从云到电子商务，阿里巴巴-SW大多数主要部门的增长放缓，突显出人们担心政府不断增加的新法规正在限制扩张并增加企业负担。</blockquote></p><p> In a sign of the times, Chief Executive Officer Daniel Zhang on Tuesday endorsed a string of government policies enacted during a tumultuous 2021, from strict curbs on data collection to excessive subsidies.</p><p><blockquote>作为时代的标志，首席执行官张勇(Elon Musk)周二批准了在动荡的2021年期间颁布的一系列政府政策，从严格限制数据收集到过度补贴。</blockquote></p><p> The company tried to assure investors by announcing it will now repurchase $15 billion in shares through next year, up from a $10 billion repurchase plan that had been in place. It also disclosed it had repurchased $3.7 billion worth of its US-traded shares since April.</p><p><blockquote>该公司试图向投资者保证，宣布明年将回购150亿美元的股票，高于此前100亿美元的回购计划。该公司还透露，自4月份以来，已回购了价值37亿美元的美国股票。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the era of Alibaba's high growth over?<blockquote>阿里巴巴-SW高增长时代结束了吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs the era of Alibaba's high growth over?<blockquote>阿里巴巴-SW高增长时代结束了吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-04 14:13</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>China's Alibaba Group Holding Ltd missed analyst estimates for first-quarter revenue on Tuesday.</p><p><blockquote>周二，阿里巴巴-SW集团控股有限公司第一季度营收未达到分析师预期。</blockquote></p><p> <h4>BUSINESS HIGHLIGHTS</h4> In the quarter ended June 30, 2021:</p><p><blockquote><h4>业务亮点</h4>截至2021年6月30日的季度：</blockquote></p><p> <ul>  <li>Overall, revenue rose about 34% to 205.74 billion yuan ($31.83 billion) in the first quarter ended June 30, below estimates for 209.39 billion yuan, Core commerce revenue for Alibaba rose about 35% to 180.24 billion yuan in the quarter, compared with estimates of 184.23 billion yuan. In the fourth quarter, the unit's revenue surged more than 70%.</li>  <li>Non-GAAP net income was RMB43,441 million (US$6,728 million), an increase of 10% year-over-year, over estimates for 29.3 billion yuan. On an adjusted basis, the company earned 16.60 yuan per share, above estimates for 14.43 yuan.</li>  <li>Annual active consumers of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended June 30, 2021, an increase of 45 million from the twelve months ended March 31, 2021. This includes 912 million consumers in China1 and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.</li> </ul> If we focus on specific businesses, we can see that the growth of this financial report is mainly from the core e-commerce part</p><p><blockquote><ul><li>总体而言，截至6月30日的第一季度收入增长约34%，至2057.4亿元人民币（合318.3亿美元），低于预期的2093.9亿元人民币；阿里巴巴-SW本季度核心商务收入增长约35%，至1802.4亿元人民币，高于预期1842.3亿元人民币。第四季度，该部门的收入飙升了70%以上。</li><li>非公认会计准则净利润为人民币434.41亿元（67.28亿美元），同比增长10%，高于预期的293亿元。调整后，该公司每股收益16.60元，高于预期的14.43元。</li><li>截至2021年6月30日止十二个月，阿里巴巴-SW生态系统在全球的年度活跃消费者达到约11.8亿，较截至2021年3月31日止十二个月增加4500万。这包括Lazada、速卖通、Trendyol和Daraz服务的中国9.12亿消费者1和海外2.65亿消费者。</li></ul>如果聚焦到具体业务，可以看到这份财报的增长主要来自于核心的电商部分</blockquote></p><p> <ul>  <li>Total commerce revenue was 180.2 billion yuan, a year-on-year increase of 35%.</li>  <li>Revenue from cloud computing business was 16.05 billion yuan, a year-on-year increase of 29%.</li>  <li>Revenue from Digital Media and Entertainment was RMB 8.073 billion, a year-on-year increase of 15%.</li>  <li>Revenue from innovation initiatives and others was RMB 1.375 billion, a year-on-year increase of 37%.</li> </ul> <h4>Growth slowdown</h4> Compared with cloud computing, digital media, e-commerce business is the main driving force driving the growth of Alibaba's business, but this time the e-commerce business also has hidden concerns. As mentioned in the last quarter, the reason for Alibaba’s revenue surge this time was mainly from other revenues. This part of revenue reached a staggering 54.8 billion yuan, an increase of 82% year-on-year, and this part of revenue was mainly due to the Oct. 2020 consolidation of Sun Art.</p><p><blockquote><ul><li>商业总收入1802亿元，同比增长35%。</li><li>云计算业务营收160.5亿元，同比增长29%。</li><li>数字媒体及娱乐收入为人民币80.73亿元，同比增长15%。</li><li>创新举措及其他收入为人民币13.75亿元，同比增长37%。</li></ul><h4>增长放缓</h4>与云计算、数字媒体相比，电商业务是推动阿里巴巴-SW业务增长的主要动力，但这一次电商业务也存在隐忧。正如上个季度提到的，阿里巴巴-SW此次营收激增的原因主要来自其他收入。这部分营收达到了惊人的548亿元，同比增长了82%，而这部分营收主要得益于高鑫2020年10月并表。</blockquote></p><p> In the financial report, Alibaba also mentioned that if the revenue from Sun Art’s consolidation is deducted, Alibaba’s total revenue is 187.3 billion yuan, a year-on-year increase of only 22%, and core e-commerce revenue is 161.8 billion yuan, a year-on-year increase of 21 %.</p><p><blockquote>在财报中，阿里巴巴-SW还提到，如果扣除高鑫并表的收入，阿里巴巴-SW总营收1873亿元，同比仅增长22%，核心电商营收1618亿元，同比增长21%。</blockquote></p><p> Facing the increasingly fierce competition in the Chinese e-commerce market , the company has increased its investment to support its retail platforms. Although Alibaba still leads the industry, Pduoduo Inc. (PDD), Byteance Ltd.'s short video platform Douyin and Tencent Holdings Ltd.’S social media application WeChat and other e-commerce competitors have reached consumers with new and innovative ways and gained market share.</p><p><blockquote>面对中国电商市场日益激烈的竞争，公司加大了对零售平台的支持力度。尽管阿里巴巴-SW仍处于行业领先地位，但Pduoduo Inc.（PDD）、字节跳动有限公司的短视频平台抖音和腾讯控股控股有限公司的社交媒体应用微信以及其他电子商务竞争对手已经通过新的创新方式接触消费者并获得了市场份额。</blockquote></p><p> Earlier this year, Alibaba stated that all incremental profits will be used to improve its platform, acquire new users and support merchants. On Tuesday, Alibaba said it will continue to make some investments that have already driven growth in key areas such as grocery shopping and consumers in lower-tier cities.</p><p><blockquote>今年早些时候，阿里巴巴-SW表示，所有增量利润将用于改善其平台、获取新用户和支持商家。周二，阿里巴巴-SW表示，将继续进行一些投资，这些投资已经推动了食品杂货购物和低线城市消费者等关键领域的增长。</blockquote></p><p> Investors had hoped that Alibaba's cloud computing business could drive growth, but the boost of this business slowed down. Alibaba said that its cloud computing business revenue increased by 29% year-on-year, but it was still dragged down by the loss of a major customer, a person familiar with the matter said the customer was Bytedance Inc..</p><p><blockquote>投资者曾希望阿里巴巴-SW的云计算业务能够推动增长，但该业务的提振作用放缓。阿里巴巴-SW表示，其云计算业务收入同比增长29%，但仍受到失去一个主要客户的拖累，一位知情人士称该客户是字节跳动公司。</blockquote></p><p> The Wall Street Journal reported that the department also encountered difficulties in obtaining new contracts and arranging related meetings because regulators are reviewing its e-commerce business and sister company Ant Group Co.</p><p><blockquote>《华尔街日报》报道称，该部门在获得新合同和安排相关会议方面也遇到了困难，因为监管机构正在审查其电子商务业务和姐妹公司蚂蚁集团公司。</blockquote></p><p> Growth slowed in most of Alibaba’s major divisions from cloud to e-commerce, underlining fears that the mounting list of new government regulations is constraining expansion and increasing companies’ burdens.</p><p><blockquote>从云到电子商务，阿里巴巴-SW大多数主要部门的增长放缓，突显出人们担心政府不断增加的新法规正在限制扩张并增加企业负担。</blockquote></p><p> In a sign of the times, Chief Executive Officer Daniel Zhang on Tuesday endorsed a string of government policies enacted during a tumultuous 2021, from strict curbs on data collection to excessive subsidies.</p><p><blockquote>作为时代的标志，首席执行官张勇(Elon Musk)周二批准了在动荡的2021年期间颁布的一系列政府政策，从严格限制数据收集到过度补贴。</blockquote></p><p> The company tried to assure investors by announcing it will now repurchase $15 billion in shares through next year, up from a $10 billion repurchase plan that had been in place. It also disclosed it had repurchased $3.7 billion worth of its US-traded shares since April.</p><p><blockquote>该公司试图向投资者保证，宣布明年将回购150亿美元的股票，高于此前100亿美元的回购计划。该公司还透露，自4月份以来，已回购了价值37亿美元的美国股票。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164127306","content_text":"China's Alibaba Group Holding Ltd missed analyst estimates for first-quarter revenue on Tuesday.\nBUSINESS HIGHLIGHTS\nIn the quarter ended June 30, 2021:\n\nOverall, revenue rose about 34% to 205.74 billion yuan ($31.83 billion) in the first quarter ended June 30, below estimates for 209.39 billion yuan, Core commerce revenue for Alibaba rose about 35% to 180.24 billion yuan in the quarter, compared with estimates of 184.23 billion yuan. In the fourth quarter, the unit's revenue surged more than 70%.\nNon-GAAP net income was RMB43,441 million (US$6,728 million), an increase of 10% year-over-year, over estimates for 29.3 billion yuan. On an adjusted basis, the company earned 16.60 yuan per share, above estimates for 14.43 yuan.\nAnnual active consumers of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended June 30, 2021, an increase of 45 million from the twelve months ended March 31, 2021. This includes 912 million consumers in China1 and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.\n\nIf we focus on specific businesses, we can see that the growth of this financial report is mainly from the core e-commerce part\n\nTotal commerce revenue was 180.2 billion yuan, a year-on-year increase of 35%.\nRevenue from cloud computing business was 16.05 billion yuan, a year-on-year increase of 29%.\nRevenue from Digital Media and Entertainment was RMB 8.073 billion, a year-on-year increase of 15%.\nRevenue from innovation initiatives and others was RMB 1.375 billion, a year-on-year increase of 37%.\n\nGrowth slowdown\nCompared with cloud computing, digital media, e-commerce business is the main driving force driving the growth of Alibaba's business, but this time the e-commerce business also has hidden concerns. As mentioned in the last quarter, the reason for Alibaba’s revenue surge this time was mainly from other revenues. This part of revenue reached a staggering 54.8 billion yuan, an increase of 82% year-on-year, and this part of revenue was mainly due to the Oct. 2020 consolidation of Sun Art.\nIn the financial report, Alibaba also mentioned that if the revenue from Sun Art’s consolidation is deducted, Alibaba’s total revenue is 187.3 billion yuan, a year-on-year increase of only 22%, and core e-commerce revenue is 161.8 billion yuan, a year-on-year increase of 21 %.\nFacing the increasingly fierce competition in the Chinese e-commerce market , the company has increased its investment to support its retail platforms. Although Alibaba still leads the industry, Pduoduo Inc. (PDD), Byteance Ltd.'s short video platform Douyin and Tencent Holdings Ltd.’S social media application WeChat and other e-commerce competitors have reached consumers with new and innovative ways and gained market share.\nEarlier this year, Alibaba stated that all incremental profits will be used to improve its platform, acquire new users and support merchants. On Tuesday, Alibaba said it will continue to make some investments that have already driven growth in key areas such as grocery shopping and consumers in lower-tier cities.\nInvestors had hoped that Alibaba's cloud computing business could drive growth, but the boost of this business slowed down. Alibaba said that its cloud computing business revenue increased by 29% year-on-year, but it was still dragged down by the loss of a major customer, a person familiar with the matter said the customer was Bytedance Inc..\nThe Wall Street Journal reported that the department also encountered difficulties in obtaining new contracts and arranging related meetings because regulators are reviewing its e-commerce business and sister company Ant Group Co.\nGrowth slowed in most of Alibaba’s major divisions from cloud to e-commerce, underlining fears that the mounting list of new government regulations is constraining expansion and increasing companies’ burdens.\nIn a sign of the times, Chief Executive Officer Daniel Zhang on Tuesday endorsed a string of government policies enacted during a tumultuous 2021, from strict curbs on data collection to excessive subsidies.\nThe company tried to assure investors by announcing it will now repurchase $15 billion in shares through next year, up from a $10 billion repurchase plan that had been in place. It also disclosed it had repurchased $3.7 billion worth of its US-traded shares since April.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":1497,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}