diff --git a/python/parser.py b/python/parser.py
index 6737d44..662709c 100644
--- a/python/parser.py
+++ b/python/parser.py
@@ -13,10 +13,10 @@ def parse_template(file_path: str) -> dict:
         for row in ws.iter_rows():
             for cell in row:
                 if cell.value and isinstance(cell.value, str):
-                    m = PLACEHOLDER_RE.search(cell.value)
-                    if m:
+                    matches = PLACEHOLDER_RE.findall(cell.value)
+                    for name in matches:
                         placeholders.append({
-                            "name": m.group(1),
+                            "name": name,
                             "sheet": sheet_name,
                             "cell": cell.coordinate,
                         })
diff --git a/tests/create_fixtures.py b/tests/create_fixtures.py
index 671fdc4..0582fa9 100644
--- a/tests/create_fixtures.py
+++ b/tests/create_fixtures.py
@@ -5,6 +5,7 @@ ws = wb.active
 ws.title = "Sheet1"
 ws["B3"] = "{{编号}}"
 ws["C5"] = "{{姓名}}"
-ws["D7"] = "normal_value"  # not a placeholder, should NOT be detected
+ws["D7"] = "normal_value"  # 非占位符，不应被识别
+ws["E9"] = "{{客户名}}和{{编号}}"  # 同一单元格内有两个占位符
 wb.save("tests/fixtures/sample_template.xlsx")
 print("fixture created")
diff --git a/tests/fixtures/sample_template.xlsx b/tests/fixtures/sample_template.xlsx
index c6d220a..9b3092f 100644
Binary files a/tests/fixtures/sample_template.xlsx and b/tests/fixtures/sample_template.xlsx differ
diff --git a/tests/python/test_parser.py b/tests/python/test_parser.py
index 537fcfb..8a025d3 100644
--- a/tests/python/test_parser.py
+++ b/tests/python/test_parser.py
@@ -26,3 +26,12 @@ def test_placeholder_has_cell_info():
     biaohao = next(p for p in result["placeholders"] if p["name"] == "编号")
     assert biaohao["sheet"] == "Sheet1"
     assert biaohao["cell"] == "B3"
+
+def test_multiple_placeholders_in_one_cell():
+    result = parse_template(FIXTURE)
+    names = [p["name"] for p in result["placeholders"]]
+    assert "客户名" in names
+    assert "编号" in names  # 已在其他地方存在，但也在 E9 中
+    # 验证 E9 中的两个占位符都被检测到
+    e9_placeholders = [p for p in result["placeholders"] if p["cell"] == "E9"]
+    assert len(e9_placeholders) == 2