[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio89b85ce1":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio89b85ce1","数据泄露余波重创增加：Coupang(CPNG)Q1遭遇逾四年来最大季度净亏-预警全年营收增速放缓","\u002Fdoc\u002Fdcio89b85ce1","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，韩国电商巨头Coupang(CPNG)正经历2021年上市以来最严峻的信任危机与业绩滑坡。由于去年底爆发的重大数据泄露事件持续侵蚀消费者信心，叠加监管机构对公司治理的强硬表态，该公司在2026年第一季度录得逾四年来最大季度亏损，并明确警告全年营收增长将进一步放缓。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">这家在纽约上市的公司于周二公布，1月至3月期间运营亏损高达2.42亿美元，与此前一年同期1.54亿美元的盈利形成断崖式逆转，而华尔街预期亏损也仅为3900万美元左右。这一亏损额几乎吞噬了公司2025年全年收益的一半。归属于股东的净亏损扩大至2.66亿美元，这是自2021年第四季度以来最糟糕的季度盈利表现。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">当季营收同比增长8%，达到85亿美元，但增速较此前长期保持的两位数增长大幅放缓。自2021年在纽约证券交易所上市以来，双位数增长一直是Coupang崛起的重要标志。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">业绩恶化的核心导火索，是韩国史上最严重的电商数据泄露事件之一。此前，韩国监管机构发现一名前员工在数月内未被察觉地非法访问了近3400万个账户的个人信息，波及韩国约三分之二的人口。为应对由此引发的监管调查和消费者诉讼，Coupang推出了价值约12亿美元的购物积分补偿计划。该公司表示，这些补偿积分直接从销售额中扣除，严重拖累了本季度的营收与利润，该积分已于4月15日到期。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">首席执行官Bom Kim在财报电话会上直言“受事件影响，平台流失了数月本应持续增长的消费营收。营收缺口之下，公司今年同比增速将明显走弱，固定成本对应的业务需求规模也将不及此前预期。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">与此同时，Coupang旗下核心业务产品商务板块增长持续失速。这一涵盖Rocket Delivery、Rocket Fresh的板块营收同比仅增4%，至72亿美元，较上季度12%的增速大幅跳水。利润率也遭受挤压，毛利率从去年同期的29.3%下滑至27%，调整后EBITDA(税息折旧及摊销前利润)暴跌92%至仅2900万美元。总运营支出达87.5亿美元，超过了季度营收。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">客户指标同样亮起黄灯。活跃客户数同比仅增长2%至2390万，且较上一季度净减少约70万。长期被视为最强忠诚引擎的付费会员(WOW会员)生态系统的扩张出现放缓，业内人士正密切关注数据泄露及平台实践的争议是否已削弱高频用户的留存率。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">业绩承压之际，监管的阴影也持续笼罩着这家电商巨头的扩张之路。韩国公平交易委员会(KFTC)在本季度做出关键裁决，将Bom Kim重新划定为Coupang实际控制人，取代此前企业实体控股的认定。KFTC指出，担任副总裁级别职务的Kim Yoo-suk(Bom Kim的弟弟)薪酬待遇与正式高管持平，且对公司部分业务运营拥有实际话语权，Coupang因此不再符合以企业实体作为控股主体的认定条件。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">这一改变正值公司敏感时刻，也使Bom Kim本人需承担更直接的治理责任。近年来，Coupang及其物流关联公司因涉嫌不公平交易、仓库安全及配送员待遇等问题，持续遭到监管机构和立法者的反复调查。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">在业绩电话会上，Bom Kim与首席财务官Gaurav Anand均未直接回应KFTC的实际控制人重新认定事宜。不过，Bom Kim仍试图安抚投资者，称消费者的购买选择是对平台的每一次投票，忠诚度和支出趋势依然保有韧性。他强调，Coupang计划通过进一步扩大基础设施投资、扩大配送覆盖范围与增加会员福利来回应挑战，誓言“将不遗余力地为客户在选品、价格和服务方面创造新的WOW时刻”。该公司透露，计划今年将WOW相关客户权益扩大至超过40亿美元，包括免费配送、退货以及与流媒体相关的附加服务。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Anand也试图缓解市场对增长放缓、外部监管压力加剧的担忧，称短期扰动不改公司长期盈利改善趋势。“我们认为业务毛利率仍有巨大提升空间，对持续推高整体毛利率具备充足信心。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">为提振市场信心，Coupang持续推进激进的股东回报策略。第一季度斥资3.91亿美元回购了2040万股股票，董事会额外批准了一项10亿美元的股票回购计划。财报发布后，Coupang股价在美股盘后下跌逾7%，延续了今年年初以来约12%的跌势，随后在夜盘收复部分失地。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]