Why China’s tech firms could be in for a rude IPO surprise
An IPO does more than open an exit window. It reveals what kind of business the revenue actually represents: scalable technology only when new customers require progressively less delivery effort and margins begin to reflect repeatability.
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- South China Morning Post
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- English / 英文
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Publication note
上市不只是打开退出窗口，它还会迫使收入显露出真正的经济属性。只有当新增客户不再要求同比例增加交付工作，增长才开始具有可扩张科技公司的含义。
An IPO does more than open an exit window. It reveals what kind of business the revenue actually represents: scalable technology only when new customers require progressively less delivery effort and margins begin to reflect repeatability.
Original publication: South China Morning Post