402a70e5
2021-07-12
Maybe
Will Zoom Video Communications Be a Trillion-Dollar Stock by 2030?<blockquote>到 2030 年,Zoom Video通信会成为万亿美元股票吗?</blockquote>
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But now more than one year removed from the start of the global health crisis, the Zoom boom is over. Already with an enterprise value (market cap minus cash and equivalents) of $110 billion (compared to less than $20 billion at the start of 2020), Zoom stock reaching $1 trillion by 2030 -- a tenfold total return, or an average compound annual growth rate of about 26% -- might seem like a longshot.</p><p><blockquote><b>Zoom Video通讯</b>(纳斯达克股票代码:ZM)刚刚经历了史诗般的三位数百分比销售增长,并因 COVID-19 大流行而引起了全球关注。但现在距离全球健康危机爆发已经过去一年多了,Zoom 热潮已经结束。Zoom 股票的企业价值(市值减去现金及等价物)已经达到 1100 亿美元(而 2020 年初不到 200 亿美元),到 2030 年,Zoom 股票将达到 1 万亿美元——总回报率十倍,或平均复合年增长率约为 26%——似乎遥遥无期。</blockquote></p><p> However, Zoom is disrupting a massive global communications industry, and as a cloud software business, it has additional capabilities it could unlock that a traditional telecom business cannot. Don't write off the possibility of this stock delivering another tenfold return in the next decade.</p><p><blockquote>然而,Zoom正在颠覆一个庞大的全球通信行业,作为一家云软件企业,它拥有传统电信业务无法释放的额外功能。不要忽视这只股票在未来十年内再次带来十倍回报的可能性。</blockquote></p><p> Don't sweat the valuation -- look at what's at stake</p><p><blockquote>不要担心估值——看看利害关系</blockquote></p><p> When it comes to valuation, Zoom carries a premium price tag in all respects. Even down 34% from all-time highs reached last autumn, shares trade for 73 times trailing-12-monthfree cash flowand 28 times expected current year sales. In fact, not only is Zoom trading for several<i>decades</i>' worth of current annual revenue, it's also valued for many multiples more than total global annual spending on video conferencing services. Various estimates expect global spend on internet-based video communications to reach $50 billion or so a year, but not until 2026.</p><p><blockquote>说到估值,Zoom在各方面都带有溢价标签。尽管较去年秋天创下的历史高点下跌了 34%,但该股的交易价格是过去 12 个月自由现金流的 73 倍,是今年预期销售额的 28 倍。事实上,Zoom 不仅是几个<i>几十年</i>以目前的年收入计算,其价值也比全球视频会议服务年度总支出高出许多倍。各种估计预计全球每年在基于互联网的视频通信上的支出将达到 500 亿美元左右,但要到 2026 年才能达到。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e5206f407a4d7605d3e87ce0d1e9a5b2\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源:盖蒂图片社。</span></p></blockquote></p><p> When it comes to technology leaders, it's commonplace for them to be valued multiple times higher than the global annual spending on the industry they participate in. Why? For one reason, business valuations are calculated usingfuture expected profits, the expected rate of growth of said profits, and the degree of certainty with which they'll be generated. For example,<b>Alphabet</b>has a market cap of $1.68 trillion, even though global digital advertising (which is 80% of Google's total revenue) is expected to be $455 billion this year.</p><p><blockquote>当谈到技术领导者时,他们的估值通常比他们所参与行业的全球年支出高出数倍。为什么?出于一个原因,企业估值是使用未来预期利润、所述利润的预期增长率以及产生利润的确定性程度来计算的。例如,<b>Alphabet</b>尽管全球数字广告(占谷歌总收入的 80%)预计今年将达到 4550 亿美元,但其市值为 1.68 万亿美元。</blockquote></p><p> The point is this: Don't balk at Zoom's lofty valuation just because it's already far larger than the industry it's pioneering. Besides, consider what's up for grabs here. The telecom industry soaks up $1.5 trillion a year from businesses and consumers. If Zoom cancontinue to expand on its capabilities, some of this massive market could go the way of video in the next 10 years -- and just a small fraction of $1.5 trillion will move the needle in a big way.</p><p><blockquote>关键是:不要因为Zoom的高估值已经远远大于它所开创的行业而犹豫。此外,考虑一下这里有什么可供争夺的。电信行业每年从企业和消费者那里吸收1.5万亿美元。如果 Zoom 能够继续扩展其功能,那么这个庞大市场的一部分可能会在未来 10 年内追随视频的脚步——而 1.5 万亿美元中的一小部分就会大幅推动市场发展。</blockquote></p><p> Lots of cash now, an unimaginable amount of cash later</p><p><blockquote>现在有很多现金,以后有难以想象的现金</blockquote></p><p> But can Zoom really execute on such an ambitious plan? After all, its core video conferencing service is slowing down as effects of the pandemic ease. Revenue growth is expected to be about 50% this year, which implies quite the cool-off from the 191% growth rate notched in the first quarter of fiscal 2022.</p><p><blockquote>但是Zoom真的能执行这样一个雄心勃勃的计划吗?毕竟,随着疫情影响的缓解,其核心视频会议服务正在放缓。今年的收入增长预计约为 50%,这意味着与 2022 财年第一季度 191% 的增长率相比有所降温。</blockquote></p><p> But remember that Zoom doesn't fit within the definitional confines of a communications service. This is a cloud-based software service, which means it has flexibility -- like how it recently announced the acquisition of a real-time machine-based translation start-up called Kites GmbH. It's also been promoting its Zoom Phone service for businesses to provide a more flexible telephone system than what's offered by legacy telecoms. Zoom has an incredible $4.69 billion in cash and equivalents and zero debt on balance; compare that to net<i>debt</i>positions most telecom operations have these days. Put another way, Zoom is a nimble software technologist in the driver's seat of disrupting how people stay in touch.</p><p><blockquote>但是请记住,Zoom不符合通信服务的定义范围。这是一项基于云的软件服务,这意味着它具有灵活性——就像它最近宣布收购一家名为Kites GmbH的实时机器翻译初创公司一样。它还一直在为企业推广其Zoom电话服务,以提供比传统电信提供的更灵活的电话系统。Zoom 拥有令人难以置信的 46.9 亿美元现金和等价物,余额为零债务;与净相比<i>债务</i>如今大多数电信公司都有这样的职位。换句话说,Zoom是一个灵活的软件技术专家,在扰乱人们保持联系的方式方面处于主导地位。</blockquote></p><p> This trend isn't going to suddenly reverse, either. Zoom generates massive amounts of cash every quarter. Itsfree cash flowprofit margin was 47% in Q1, good for $454 million in extra cash over and above what it needed in its operations. That tiny real-time translation start-up acquisition could be just the beginning if and when Zoom decides to start flexing its muscles.</p><p><blockquote>这种趋势也不会突然逆转。Zoom 每个季度都会产生大量现金。第一季度其自由现金流利润率为 47%,超过其运营所需的额外现金 4.54 亿美元。如果 Zoom 决定开始展示实力,那么收购这家小小的实时翻译初创公司可能只是一个开始。</blockquote></p><p> Between a growing video conferencing market, a massive telecom industry getting upended by cloud computing, and the cash to keep the pedal to the metal, I wouldn't be at all surprised if Zoom can stoke the flames of about 26% a year annual average growth through 2030. Zoom as a $1 trillion business simply isn't all that far-fetched an idea in a post-COVID-19 world.</p><p><blockquote>在不断增长的视频会议市场、被云计算颠覆的庞大电信行业以及保持踏板的现金之间,如果 Zoom 能够点燃每年约 26% 的火焰到 2030 年年均增长,我一点也不会感到惊讶。Zoom 作为一家价值 1 万亿美元的企业,在后 COVID-19 时代,根本不是一个牵强的想法。</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>Will Zoom Video Communications Be a Trillion-Dollar Stock by 2030?<blockquote>到 2030 年,Zoom Video通信会成为万亿美元股票吗?</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\">\nWill Zoom Video Communications Be a Trillion-Dollar Stock by 2030?<blockquote>到 2030 年,Zoom Video通信会成为万亿美元股票吗?</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-07-12 16:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Zoom Video Communications</b>(NASDAQ:ZM)is coming off of an epic year of triple-digit-percentage sales growth and has been catapulted into global consciousness by the COVID-19 pandemic. But now more than one year removed from the start of the global health crisis, the Zoom boom is over. Already with an enterprise value (market cap minus cash and equivalents) of $110 billion (compared to less than $20 billion at the start of 2020), Zoom stock reaching $1 trillion by 2030 -- a tenfold total return, or an average compound annual growth rate of about 26% -- might seem like a longshot.</p><p><blockquote><b>Zoom Video通讯</b>(纳斯达克股票代码:ZM)刚刚经历了史诗般的三位数百分比销售增长,并因 COVID-19 大流行而引起了全球关注。但现在距离全球健康危机爆发已经过去一年多了,Zoom 热潮已经结束。Zoom 股票的企业价值(市值减去现金及等价物)已经达到 1100 亿美元(而 2020 年初不到 200 亿美元),到 2030 年,Zoom 股票将达到 1 万亿美元——总回报率十倍,或平均复合年增长率约为 26%——似乎遥遥无期。</blockquote></p><p> However, Zoom is disrupting a massive global communications industry, and as a cloud software business, it has additional capabilities it could unlock that a traditional telecom business cannot. Don't write off the possibility of this stock delivering another tenfold return in the next decade.</p><p><blockquote>然而,Zoom正在颠覆一个庞大的全球通信行业,作为一家云软件企业,它拥有传统电信业务无法释放的额外功能。不要忽视这只股票在未来十年内再次带来十倍回报的可能性。</blockquote></p><p> Don't sweat the valuation -- look at what's at stake</p><p><blockquote>不要担心估值——看看利害关系</blockquote></p><p> When it comes to valuation, Zoom carries a premium price tag in all respects. Even down 34% from all-time highs reached last autumn, shares trade for 73 times trailing-12-monthfree cash flowand 28 times expected current year sales. In fact, not only is Zoom trading for several<i>decades</i>' worth of current annual revenue, it's also valued for many multiples more than total global annual spending on video conferencing services. Various estimates expect global spend on internet-based video communications to reach $50 billion or so a year, but not until 2026.</p><p><blockquote>说到估值,Zoom在各方面都带有溢价标签。尽管较去年秋天创下的历史高点下跌了 34%,但该股的交易价格是过去 12 个月自由现金流的 73 倍,是今年预期销售额的 28 倍。事实上,Zoom 不仅是几个<i>几十年</i>以目前的年收入计算,其价值也比全球视频会议服务年度总支出高出许多倍。各种估计预计全球每年在基于互联网的视频通信上的支出将达到 500 亿美元左右,但要到 2026 年才能达到。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e5206f407a4d7605d3e87ce0d1e9a5b2\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源:盖蒂图片社。</span></p></blockquote></p><p> When it comes to technology leaders, it's commonplace for them to be valued multiple times higher than the global annual spending on the industry they participate in. Why? For one reason, business valuations are calculated usingfuture expected profits, the expected rate of growth of said profits, and the degree of certainty with which they'll be generated. For example,<b>Alphabet</b>has a market cap of $1.68 trillion, even though global digital advertising (which is 80% of Google's total revenue) is expected to be $455 billion this year.</p><p><blockquote>当谈到技术领导者时,他们的估值通常比他们所参与行业的全球年支出高出数倍。为什么?出于一个原因,企业估值是使用未来预期利润、所述利润的预期增长率以及产生利润的确定性程度来计算的。例如,<b>Alphabet</b>尽管全球数字广告(占谷歌总收入的 80%)预计今年将达到 4550 亿美元,但其市值为 1.68 万亿美元。</blockquote></p><p> The point is this: Don't balk at Zoom's lofty valuation just because it's already far larger than the industry it's pioneering. Besides, consider what's up for grabs here. The telecom industry soaks up $1.5 trillion a year from businesses and consumers. If Zoom cancontinue to expand on its capabilities, some of this massive market could go the way of video in the next 10 years -- and just a small fraction of $1.5 trillion will move the needle in a big way.</p><p><blockquote>关键是:不要因为Zoom的高估值已经远远大于它所开创的行业而犹豫。此外,考虑一下这里有什么可供争夺的。电信行业每年从企业和消费者那里吸收1.5万亿美元。如果 Zoom 能够继续扩展其功能,那么这个庞大市场的一部分可能会在未来 10 年内追随视频的脚步——而 1.5 万亿美元中的一小部分就会大幅推动市场发展。</blockquote></p><p> Lots of cash now, an unimaginable amount of cash later</p><p><blockquote>现在有很多现金,以后有难以想象的现金</blockquote></p><p> But can Zoom really execute on such an ambitious plan? After all, its core video conferencing service is slowing down as effects of the pandemic ease. Revenue growth is expected to be about 50% this year, which implies quite the cool-off from the 191% growth rate notched in the first quarter of fiscal 2022.</p><p><blockquote>但是Zoom真的能执行这样一个雄心勃勃的计划吗?毕竟,随着疫情影响的缓解,其核心视频会议服务正在放缓。今年的收入增长预计约为 50%,这意味着与 2022 财年第一季度 191% 的增长率相比有所降温。</blockquote></p><p> But remember that Zoom doesn't fit within the definitional confines of a communications service. This is a cloud-based software service, which means it has flexibility -- like how it recently announced the acquisition of a real-time machine-based translation start-up called Kites GmbH. It's also been promoting its Zoom Phone service for businesses to provide a more flexible telephone system than what's offered by legacy telecoms. Zoom has an incredible $4.69 billion in cash and equivalents and zero debt on balance; compare that to net<i>debt</i>positions most telecom operations have these days. Put another way, Zoom is a nimble software technologist in the driver's seat of disrupting how people stay in touch.</p><p><blockquote>但是请记住,Zoom不符合通信服务的定义范围。这是一项基于云的软件服务,这意味着它具有灵活性——就像它最近宣布收购一家名为Kites GmbH的实时机器翻译初创公司一样。它还一直在为企业推广其Zoom电话服务,以提供比传统电信提供的更灵活的电话系统。Zoom 拥有令人难以置信的 46.9 亿美元现金和等价物,余额为零债务;与净相比<i>债务</i>如今大多数电信公司都有这样的职位。换句话说,Zoom是一个灵活的软件技术专家,在扰乱人们保持联系的方式方面处于主导地位。</blockquote></p><p> This trend isn't going to suddenly reverse, either. Zoom generates massive amounts of cash every quarter. Itsfree cash flowprofit margin was 47% in Q1, good for $454 million in extra cash over and above what it needed in its operations. That tiny real-time translation start-up acquisition could be just the beginning if and when Zoom decides to start flexing its muscles.</p><p><blockquote>这种趋势也不会突然逆转。Zoom 每个季度都会产生大量现金。第一季度其自由现金流利润率为 47%,超过其运营所需的额外现金 4.54 亿美元。如果 Zoom 决定开始展示实力,那么收购这家小小的实时翻译初创公司可能只是一个开始。</blockquote></p><p> Between a growing video conferencing market, a massive telecom industry getting upended by cloud computing, and the cash to keep the pedal to the metal, I wouldn't be at all surprised if Zoom can stoke the flames of about 26% a year annual average growth through 2030. Zoom as a $1 trillion business simply isn't all that far-fetched an idea in a post-COVID-19 world.</p><p><blockquote>在不断增长的视频会议市场、被云计算颠覆的庞大电信行业以及保持踏板的现金之间,如果 Zoom 能够点燃每年约 26% 的火焰到 2030 年年均增长,我一点也不会感到惊讶。Zoom 作为一家价值 1 万亿美元的企业,在后 COVID-19 时代,根本不是一个牵强的想法。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.fool.com/investing/2021/07/11/zoom-video-trillion-dollar-stock-2030/\">Motley Fool</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"source_url":"https://www.fool.com/investing/2021/07/11/zoom-video-trillion-dollar-stock-2030/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184860034","content_text":"Zoom Video Communications(NASDAQ:ZM)is coming off of an epic year of triple-digit-percentage sales growth and has been catapulted into global consciousness by the COVID-19 pandemic. But now more than one year removed from the start of the global health crisis, the Zoom boom is over. Already with an enterprise value (market cap minus cash and equivalents) of $110 billion (compared to less than $20 billion at the start of 2020), Zoom stock reaching $1 trillion by 2030 -- a tenfold total return, or an average compound annual growth rate of about 26% -- might seem like a longshot.\nHowever, Zoom is disrupting a massive global communications industry, and as a cloud software business, it has additional capabilities it could unlock that a traditional telecom business cannot. Don't write off the possibility of this stock delivering another tenfold return in the next decade.\nDon't sweat the valuation -- look at what's at stake\nWhen it comes to valuation, Zoom carries a premium price tag in all respects. Even down 34% from all-time highs reached last autumn, shares trade for 73 times trailing-12-monthfree cash flowand 28 times expected current year sales. In fact, not only is Zoom trading for severaldecades' worth of current annual revenue, it's also valued for many multiples more than total global annual spending on video conferencing services. Various estimates expect global spend on internet-based video communications to reach $50 billion or so a year, but not until 2026.\nIMAGE SOURCE: GETTY IMAGES.\nWhen it comes to technology leaders, it's commonplace for them to be valued multiple times higher than the global annual spending on the industry they participate in. Why? For one reason, business valuations are calculated usingfuture expected profits, the expected rate of growth of said profits, and the degree of certainty with which they'll be generated. For example,Alphabethas a market cap of $1.68 trillion, even though global digital advertising (which is 80% of Google's total revenue) is expected to be $455 billion this year.\nThe point is this: Don't balk at Zoom's lofty valuation just because it's already far larger than the industry it's pioneering. Besides, consider what's up for grabs here. The telecom industry soaks up $1.5 trillion a year from businesses and consumers. If Zoom cancontinue to expand on its capabilities, some of this massive market could go the way of video in the next 10 years -- and just a small fraction of $1.5 trillion will move the needle in a big way.\nLots of cash now, an unimaginable amount of cash later\nBut can Zoom really execute on such an ambitious plan? After all, its core video conferencing service is slowing down as effects of the pandemic ease. Revenue growth is expected to be about 50% this year, which implies quite the cool-off from the 191% growth rate notched in the first quarter of fiscal 2022.\nBut remember that Zoom doesn't fit within the definitional confines of a communications service. This is a cloud-based software service, which means it has flexibility -- like how it recently announced the acquisition of a real-time machine-based translation start-up called Kites GmbH. It's also been promoting its Zoom Phone service for businesses to provide a more flexible telephone system than what's offered by legacy telecoms. Zoom has an incredible $4.69 billion in cash and equivalents and zero debt on balance; compare that to netdebtpositions most telecom operations have these days. Put another way, Zoom is a nimble software technologist in the driver's seat of disrupting how people stay in touch.\nThis trend isn't going to suddenly reverse, either. Zoom generates massive amounts of cash every quarter. Itsfree cash flowprofit margin was 47% in Q1, good for $454 million in extra cash over and above what it needed in its operations. That tiny real-time translation start-up acquisition could be just the beginning if and when Zoom decides to start flexing its muscles.\nBetween a growing video conferencing market, a massive telecom industry getting upended by cloud computing, and the cash to keep the pedal to the metal, I wouldn't be at all surprised if Zoom can stoke the flames of about 26% a year annual average growth through 2030. Zoom as a $1 trillion business simply isn't all that far-fetched an idea in a post-COVID-19 world.","news_type":1,"symbols_score_info":{"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":1153,"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":5,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/146214753"}
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