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2021-06-29

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Next for Netflix: Becoming Disney?

2021-06-29

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Market Overview: The throne of "one brother" in Shenzhen changed hands! Haidilao "boils" against the trend

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61 daily limit, what "demon wind" is blown by the most cattle ST stocks?

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Blue City Brothers'"Same Sex" Business Experience

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At $23.5/ADS, Dingdong Maicai sets IPO price at the bottom of guidance range

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Tesla has sent CATL to the "C position"

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Buffett's 8 valuable lessons and lessons from the pandemic

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Buffett's 8 valuable lessons and lessons from the pandemic

2021-06-28

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2021-06-28

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Morgan Stanley warns: Any strong US economic data will hit the market

2021-06-28

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2021-06-28

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Under the wave of digital intelligence, how should the second-hand car e-commerce with "chicken feathers in one place" break the situation?

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15:54","market":"us","language":"zh","title":"Next for Netflix: Becoming Disney?","url":"https://stock-news.laohu8.com/highlight/detail?id=1138372330","media":"极客公园","summary":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix ","content":"<p>Although Netflix has begun to make money in the face of a massive counterattack by film and television giants, it is far from enough.</p><p>Netflix Starts Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>Yeah.</p><p>Just as Aiyouteng was still competing with the short video industry, Netflix, which had already made a profit, launched Netflix Shop and entered the e-commerce field for the first time.</p><p>Netflix Shop currently has a limited number of items on sale, but 18. Among them are up to $135<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, and T-shirts for $30, but mainly clothing for $30 to $80. In the future, Netflix will also launch series of merchandise such as Stranger Things and Demon Hunter.</p><p><b>What these merchandise have in common is-they are all peripherals of Netflix's IP.</b></p><p>It's hard not to think of Disney, the top player in the IP licensing market. According to data from the International Licensing Industry Association (LIMA), global sales of licensed goods in 2019 were $292.8 billion. No. 1 Disney accounted for $54.7 billion, which is double Netflix's full-year revenue in 2020.</p><p>Apparently, Netflix is targeting the IP licensing cake. Behind this is Netflix's hidden worries and ambitions.</p><p><b>Netflix's Hidden Worries</b></p><p>2020 was pretty much the best year since Netflix was born. Because of the pandemic staying home, many people's entertainment activities have turned online. Netflix also grew 37 million paying subscribers as a result, breaking the company's growth record, and recording a historic 200 million total paying subscribers. Correspondingly, full-year profits rose 76%.</p><p>The company, which was in the DVD rental business when it was founded, turned to streaming in time at the end of the Golden Age of television. Since then, it has achieved more than double-digit growth in paying users every year.</p><p><b>As a $230 billion company, Netflix's business model is extremely simple — producing premium content that attracts consumers to pay for subscriptions.</b>In 2019, Netflix generated 98.52% of its revenue from membership fees. Analogy to domestic long video platforms<a href=\"https://laohu8.com/S/IQ\">iQIYI</a>Membership fees only account for about 50% of its total revenue, and other revenue mainly comes from online advertising and content distribution. Arguably, Netflix's revenue growth depends entirely on the growth of subscribers.<b>The flip side of this phrase is that once paying subscribers can't continue to grow, Netflix's business model will be in crisis.</b></p><p>Netflix, the pioneer of streaming platforms and the largest subscriber base, may hit the subscriber ceiling earlier. Streaming platforms are essentially robbing subscribers of pay TV. Take the U.S. pay TV market as an example. After reaching a peak of 101 million paying subscribers in 2011, it has declined year by year. At present, Netflix has about 67 million U.S. subscribers, which means that more than half of potential subscribers have already paid for Netflix. As recently as the first quarter of 2021, Netflix added just 4 million new subscribers, missing estimates of 6 million, and Netflix's stock price dropped 11% in response.</p><p>A poor quarter of performance is not a serious problem for Netflix, and what really hurts is that Netflix's market share may be being eaten away by its competitors.</p><p>In order to cope with the revenue pressure caused by the slowdown of subscriber growth, Netflix's membership fee has increased five times. The most recent occurred in October 2020, when the base package remained unchanged at $8.99, and the standard and base packages increased by $1 and $2 respectively to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for more than a decade, HBO NOW ($14.99 ad-free) and HULU ($11.99 ad-free), but it is not much different from Disney,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared with the ambitious new generation of entrants, there is little advantage. Disney + costs just $7.99 a month, and Apple TV + costs even less at just $4.99.</p><p>The past year was almost the Warring States Era of global streaming media, with giants Disney, Apple and Paramount entering the market one after another.</p><p>Reed Hastings, the founder of Netflix, responded at the first-quarter earnings analysis conference: \"Obviously, new competition has always existed. But when we look at the past data, the company has been growing because we are also very confident.\"</p><p>Founders' confidence is one aspect, but the giants' cannibalization of Netflix is also real. The market share of Netflix's original shows fell to 50% in 2020 from 56% at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global Original Programming Market Share. Data Source : Parrot Analytics. Image credit:<a href=\"https://laohu8.com/S/NYT\">The New York Times</a></p><p>Behind this, is Netflix's content loss. Because of the launch of Disney +, Netflix removed a series of Disney IP content. And HBO, also got back the copyrights of Friends, The Big Bang Theory, Studio Ghibli and other works. Similarly, the old sitcom The Office was taken back by NBC.</p><p>Netflix's self-produced shows account for only 30% of the total time watched by subscribers, and the rest comes from external rights. According to China Business News, the top three Netflix titles in 2018 were The Office, Friends and Grey's Anatomy. New content may be the key to driving user growth, but for older audiences, they are more inclined to choose works they are familiar with.</p><p>Netflix, which has been working on original content, withdrew most of its production plans because of the pandemic. Currently, Netflix doesn't have any major comeback series.</p><p>Netflix's model is somewhat like a one-time deal. After watching the episode, the user no longer has contact with the show. Netflix's \"Stranger Things\" and \"House of Cards\" have huge die-hard fans, but a single subscription payment model can't fully tap the value of these IPs. This creates a strange phenomenon: fans holding bills and shouting \"Shut up and take my money\" on one side, and officials \"indifferent\" on the other.</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Credit: memegenetator</p><p>Last year, Netflix's self-produced documentary Tiger King was watched by 34.3 million people within 10 days of its launch, making it Netflix's most successful series. A large number of \"Tiger King\" peripherals immediately appeared on the e-commerce brand Esty. But none of them are knockoffs.</p><p>Search for \"Tiger King\" on Esty and there are still 8195 results. Credit: Esty</p><p>It is not difficult to understand why Netflix is launching an online mall. On Netflix's official blog, Josh Simon, head of Netflix Shop and vice president of consumer goods, wrote: \"<b>We love seeing good stories go beyond screens and become part of people's lives.</b>」「<b>We are constantly thinking about how we can expand our story world for fans, from costumes and toys to immersive events and games.</b>That's why today we launch Netflix.shop as an exciting new destination that combines curated products and rich stories in a unique Netflix shopping experience. \"</p><p>This says one thing between the lines:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man approached Walter Disney at the hotel, offered $300 and asked for Mickey Mouse to be printed on his writing desk. The $300 became Disney's first \"franchise\" revenue. Nearly a hundred years later, that $300 became $54.7 billion in big business.</p><p>Flip through Disney's IP list and you'll see that it's almost a bottomless directory. In addition to its own original IPs, such as Mickey Mouse, Winnie the Pooh, Disney Princesses, The Lion King, etc., Disney also went wild to buy Pixar, Marvel, Lucasfilm, and Twentieth Century Fox in the first 20 years of the 21st century. That is to say, except Mickey Mouse, all the IPs you are familiar with such as Avengers, Star Wars, Avatar, and Toy Story belong to Disney.</p><p>Family portrait of IP characters owned by Disney. Credit: psu.edu</p><p>According to TitleMax 2019 data, eight of the world's 20 most profitable IPs came from Disney, with a cumulative economic value of $355.182 billion. Winnie the Pooh, Mickey Mouse and Star Wars ranked 3rd, 4th and 5th respectively. These old IPs, which have exceeded 40 years or even nearly a hundred years, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The rest of the TOP 20 Disney IPs are Disney Princess at#7, Marvel Universe at#11, Spider-Man at#12, Cars at#18, and Toy Story at#19. Credit: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>The film itself may not make money, but it must drive the development of related products</b>。 Walt Disney clearly knows it. Back in 1957, he drew a sketch that clearly depicted Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model painted by Walt Disney. Credit: kottke.org</p><p>In this sketch, the film studio is clearly central, with music, television, licensed merchandise, theme parks and publications all surrounding it. In the case of magazines, movies provide articles for magazines, and magazines can promote movies and Disneyland. Each part is closely linked, cooperating and complementing each other.</p><p>To this day, Disney Company still hasn't departed from the underlying logic of this model. Disney never regards the animated images created as disposable consumer goods, but as a gold mine that can be consumed for a long time. When Disney makes a movie, the company doesn't just think about the movie itself, but how it translates the story into goods, services, experiences and other derivatives. As former Disney's chief financial officer Jay Rasulo said, \"Every aspect of the company is brand-oriented and franchise-oriented.\"</p><p>Today, Disney's model is called<b>Round Revenue</b>。</p><p>First of all, Disney will launch movies with IP stories as the core at a high cost, and earn the first round of revenue through the box office.</p><p>Then, Disney will sell the rights to the film to the streaming platform for a second round of revenue</p><p>At the same time, Disney will add corresponding new characters to the theme park for every new movie it releases, earning a third round of revenue through Disneyland.</p><p>Finally, earn a fourth round of revenue through franchising, publishing, retail, and more.</p><p>Through these four rounds of revenue, Disney clearly \"drained\" the profits of every IP. These diverse profit channels give Disney a key advantage over Netflix, and further extend the vitality of its IP.</p><p><b>Build Love for Stories, Turn Love into Money</b></p><p>Unlike Disney, Netflix has no plans to set up offline stores. At present, Netflix has cooperated with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, H&M, Sephora and other retailers have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online mall system with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times and Kim Kardashian's brand Skims.</p><p>Simon, the project leader of Netflix Shop, once spent six years at Disney Studios as director of production and development.</p><p>These messages all seem to indicate Netflix's determination: \"Hey! We're not playing tickets, we're serious!\"</p><p>For years, Netflix has shied away from whether it is an entertainment company or a technology company. Just recently, Netflix founder Hastings declared, \"We really are an entertainment company.\"</p><p>According to Matthew Ball, a former executive at Amazon Studio,<b>Essentially, an entertainment company only does three things;</b></p><p><ol><li><b>Create/Tell Stories</b></p><p></li><li><b>Build Love for These Stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By that standard, Disney is hands down the best company on the planet. Think, how many little girls want to wear Elsa's long blue dress while visiting Disneyland? And how many parents will pay for it?</p><p>Netflix has done well enough to tell stories and build love, but can it turn love into money?</p><p>Mark A Cohen, director of retail research at Columbia Business School, is skeptical: \"Most of them [Netflix's hits] have a short shelf life, unlike Disney's IP, which is a generational journey.\"</p><p>Despite a lot of uncertainty, this is certainly the best year for Netflix financially. The company has borrowed a total of $16 billion over the past 10 years. Late last year, Netflix said at its fourth-quarter earnings that it no longer needed to seek borrowing to fund the company. In other words, Netflix became a truly profitable company.</p><p>Its other streaming rivals are still losing money, including Disney.</p>","source":"jkgy","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>Next for Netflix: Becoming Disney?</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\">\nNext for Netflix: Becoming Disney?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">极客公园</strong><span class=\"h-time small\">2021-06-29 15:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Although Netflix has begun to make money in the face of a massive counterattack by film and television giants, it is far from enough.</p><p>Netflix Starts Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>Yeah.</p><p>Just as Aiyouteng was still competing with the short video industry, Netflix, which had already made a profit, launched Netflix Shop and entered the e-commerce field for the first time.</p><p>Netflix Shop currently has a limited number of items on sale, but 18. Among them are up to $135<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, and T-shirts for $30, but mainly clothing for $30 to $80. In the future, Netflix will also launch series of merchandise such as Stranger Things and Demon Hunter.</p><p><b>What these merchandise have in common is-they are all peripherals of Netflix's IP.</b></p><p>It's hard not to think of Disney, the top player in the IP licensing market. According to data from the International Licensing Industry Association (LIMA), global sales of licensed goods in 2019 were $292.8 billion. No. 1 Disney accounted for $54.7 billion, which is double Netflix's full-year revenue in 2020.</p><p>Apparently, Netflix is targeting the IP licensing cake. Behind this is Netflix's hidden worries and ambitions.</p><p><b>Netflix's Hidden Worries</b></p><p>2020 was pretty much the best year since Netflix was born. Because of the pandemic staying home, many people's entertainment activities have turned online. Netflix also grew 37 million paying subscribers as a result, breaking the company's growth record, and recording a historic 200 million total paying subscribers. Correspondingly, full-year profits rose 76%.</p><p>The company, which was in the DVD rental business when it was founded, turned to streaming in time at the end of the Golden Age of television. Since then, it has achieved more than double-digit growth in paying users every year.</p><p><b>As a $230 billion company, Netflix's business model is extremely simple — producing premium content that attracts consumers to pay for subscriptions.</b>In 2019, Netflix generated 98.52% of its revenue from membership fees. Analogy to domestic long video platforms<a href=\"https://laohu8.com/S/IQ\">iQIYI</a>Membership fees only account for about 50% of its total revenue, and other revenue mainly comes from online advertising and content distribution. Arguably, Netflix's revenue growth depends entirely on the growth of subscribers.<b>The flip side of this phrase is that once paying subscribers can't continue to grow, Netflix's business model will be in crisis.</b></p><p>Netflix, the pioneer of streaming platforms and the largest subscriber base, may hit the subscriber ceiling earlier. Streaming platforms are essentially robbing subscribers of pay TV. Take the U.S. pay TV market as an example. After reaching a peak of 101 million paying subscribers in 2011, it has declined year by year. At present, Netflix has about 67 million U.S. subscribers, which means that more than half of potential subscribers have already paid for Netflix. As recently as the first quarter of 2021, Netflix added just 4 million new subscribers, missing estimates of 6 million, and Netflix's stock price dropped 11% in response.</p><p>A poor quarter of performance is not a serious problem for Netflix, and what really hurts is that Netflix's market share may be being eaten away by its competitors.</p><p>In order to cope with the revenue pressure caused by the slowdown of subscriber growth, Netflix's membership fee has increased five times. The most recent occurred in October 2020, when the base package remained unchanged at $8.99, and the standard and base packages increased by $1 and $2 respectively to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for more than a decade, HBO NOW ($14.99 ad-free) and HULU ($11.99 ad-free), but it is not much different from Disney,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared with the ambitious new generation of entrants, there is little advantage. Disney + costs just $7.99 a month, and Apple TV + costs even less at just $4.99.</p><p>The past year was almost the Warring States Era of global streaming media, with giants Disney, Apple and Paramount entering the market one after another.</p><p>Reed Hastings, the founder of Netflix, responded at the first-quarter earnings analysis conference: \"Obviously, new competition has always existed. But when we look at the past data, the company has been growing because we are also very confident.\"</p><p>Founders' confidence is one aspect, but the giants' cannibalization of Netflix is also real. The market share of Netflix's original shows fell to 50% in 2020 from 56% at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global Original Programming Market Share. Data Source : Parrot Analytics. Image credit:<a href=\"https://laohu8.com/S/NYT\">The New York Times</a></p><p>Behind this, is Netflix's content loss. Because of the launch of Disney +, Netflix removed a series of Disney IP content. And HBO, also got back the copyrights of Friends, The Big Bang Theory, Studio Ghibli and other works. Similarly, the old sitcom The Office was taken back by NBC.</p><p>Netflix's self-produced shows account for only 30% of the total time watched by subscribers, and the rest comes from external rights. According to China Business News, the top three Netflix titles in 2018 were The Office, Friends and Grey's Anatomy. New content may be the key to driving user growth, but for older audiences, they are more inclined to choose works they are familiar with.</p><p>Netflix, which has been working on original content, withdrew most of its production plans because of the pandemic. Currently, Netflix doesn't have any major comeback series.</p><p>Netflix's model is somewhat like a one-time deal. After watching the episode, the user no longer has contact with the show. Netflix's \"Stranger Things\" and \"House of Cards\" have huge die-hard fans, but a single subscription payment model can't fully tap the value of these IPs. This creates a strange phenomenon: fans holding bills and shouting \"Shut up and take my money\" on one side, and officials \"indifferent\" on the other.</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Credit: memegenetator</p><p>Last year, Netflix's self-produced documentary Tiger King was watched by 34.3 million people within 10 days of its launch, making it Netflix's most successful series. A large number of \"Tiger King\" peripherals immediately appeared on the e-commerce brand Esty. But none of them are knockoffs.</p><p>Search for \"Tiger King\" on Esty and there are still 8195 results. Credit: Esty</p><p>It is not difficult to understand why Netflix is launching an online mall. On Netflix's official blog, Josh Simon, head of Netflix Shop and vice president of consumer goods, wrote: \"<b>We love seeing good stories go beyond screens and become part of people's lives.</b>」「<b>We are constantly thinking about how we can expand our story world for fans, from costumes and toys to immersive events and games.</b>That's why today we launch Netflix.shop as an exciting new destination that combines curated products and rich stories in a unique Netflix shopping experience. \"</p><p>This says one thing between the lines:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man approached Walter Disney at the hotel, offered $300 and asked for Mickey Mouse to be printed on his writing desk. The $300 became Disney's first \"franchise\" revenue. Nearly a hundred years later, that $300 became $54.7 billion in big business.</p><p>Flip through Disney's IP list and you'll see that it's almost a bottomless directory. In addition to its own original IPs, such as Mickey Mouse, Winnie the Pooh, Disney Princesses, The Lion King, etc., Disney also went wild to buy Pixar, Marvel, Lucasfilm, and Twentieth Century Fox in the first 20 years of the 21st century. That is to say, except Mickey Mouse, all the IPs you are familiar with such as Avengers, Star Wars, Avatar, and Toy Story belong to Disney.</p><p>Family portrait of IP characters owned by Disney. Credit: psu.edu</p><p>According to TitleMax 2019 data, eight of the world's 20 most profitable IPs came from Disney, with a cumulative economic value of $355.182 billion. Winnie the Pooh, Mickey Mouse and Star Wars ranked 3rd, 4th and 5th respectively. These old IPs, which have exceeded 40 years or even nearly a hundred years, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The rest of the TOP 20 Disney IPs are Disney Princess at#7, Marvel Universe at#11, Spider-Man at#12, Cars at#18, and Toy Story at#19. Credit: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>The film itself may not make money, but it must drive the development of related products</b>。 Walt Disney clearly knows it. Back in 1957, he drew a sketch that clearly depicted Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model painted by Walt Disney. Credit: kottke.org</p><p>In this sketch, the film studio is clearly central, with music, television, licensed merchandise, theme parks and publications all surrounding it. In the case of magazines, movies provide articles for magazines, and magazines can promote movies and Disneyland. Each part is closely linked, cooperating and complementing each other.</p><p>To this day, Disney Company still hasn't departed from the underlying logic of this model. Disney never regards the animated images created as disposable consumer goods, but as a gold mine that can be consumed for a long time. When Disney makes a movie, the company doesn't just think about the movie itself, but how it translates the story into goods, services, experiences and other derivatives. As former Disney's chief financial officer Jay Rasulo said, \"Every aspect of the company is brand-oriented and franchise-oriented.\"</p><p>Today, Disney's model is called<b>Round Revenue</b>。</p><p>First of all, Disney will launch movies with IP stories as the core at a high cost, and earn the first round of revenue through the box office.</p><p>Then, Disney will sell the rights to the film to the streaming platform for a second round of revenue</p><p>At the same time, Disney will add corresponding new characters to the theme park for every new movie it releases, earning a third round of revenue through Disneyland.</p><p>Finally, earn a fourth round of revenue through franchising, publishing, retail, and more.</p><p>Through these four rounds of revenue, Disney clearly \"drained\" the profits of every IP. These diverse profit channels give Disney a key advantage over Netflix, and further extend the vitality of its IP.</p><p><b>Build Love for Stories, Turn Love into Money</b></p><p>Unlike Disney, Netflix has no plans to set up offline stores. At present, Netflix has cooperated with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, H&M, Sephora and other retailers have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online mall system with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times and Kim Kardashian's brand Skims.</p><p>Simon, the project leader of Netflix Shop, once spent six years at Disney Studios as director of production and development.</p><p>These messages all seem to indicate Netflix's determination: \"Hey! We're not playing tickets, we're serious!\"</p><p>For years, Netflix has shied away from whether it is an entertainment company or a technology company. Just recently, Netflix founder Hastings declared, \"We really are an entertainment company.\"</p><p>According to Matthew Ball, a former executive at Amazon Studio,<b>Essentially, an entertainment company only does three things;</b></p><p><ol><li><b>Create/Tell Stories</b></p><p></li><li><b>Build Love for These Stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By that standard, Disney is hands down the best company on the planet. Think, how many little girls want to wear Elsa's long blue dress while visiting Disneyland? And how many parents will pay for it?</p><p>Netflix has done well enough to tell stories and build love, but can it turn love into money?</p><p>Mark A Cohen, director of retail research at Columbia Business School, is skeptical: \"Most of them [Netflix's hits] have a short shelf life, unlike Disney's IP, which is a generational journey.\"</p><p>Despite a lot of uncertainty, this is certainly the best year for Netflix financially. The company has borrowed a total of $16 billion over the past 10 years. Late last year, Netflix said at its fourth-quarter earnings that it no longer needed to seek borrowing to fund the company. In other words, Netflix became a truly profitable company.</p><p>Its other streaming rivals are still losing money, including Disney.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw\">极客公园</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e2224e6b43e75f835dbd8bb6d8c4972c","relate_stocks":{"DIS":"迪士尼","QNETCN":"纳斯达克中美互联网老虎指数","NFLX":"奈飞"},"source_url":"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138372330","content_text":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix Shop，首次进入了电商领域。\nNetflix Shop 目前在售的商品数量还很有限，不过 18 种。其中有高达 135 美元的机器人闹钟，也有 30 美元的 T 恤，但主要还是价位在 30 至 80 美元的服饰。未来，Netflix 还会推出《怪奇物语》《猎魔人》等系列商品。\n这些商品的共同点在于——它们都是 Netflix 旗下 IP 的周边产品。\n这很难让人不联想到 IP 授权市场里的那个顶级玩家——迪士尼。根据国际授权业协会（LIMA）数据显示，2019 年全球授权商品的销售额为了 2928 亿美元。第一名迪士尼就占了 547 亿美元，这个数字，是 Netflix 2020 全年收入的两倍。\n显然，Netflix 瞄准了 IP 授权的蛋糕。这背后，是 Netflix 的隐忧，和野心。\nNetflix 的隐忧\n2020 年几乎是 Netflix 诞生以来最好的一年。因为疫情宅家的原因，许多人的娱乐活动都转向了线上。Netflix 也因此增长了 3700 万付费用户，打破了该公司的增长纪录，总付费用户数也历史性地突破 2 亿。相应的，全年利润增长了 76%。\n这家创立时做 DVD 租赁生意的公司，在电视黄金时代的末尾，及时转向了流媒体业务。此后年年实现了付费用户两位数以上的增长。\n作为一家市值 2300 亿美元的公司，Netflix 的商业模式却极其简单——生产优质内容，吸引消费者付费订阅。2019 年，Netflix 98.52% 的收入都来自会员费。类比国内的长视频平台爱奇艺，会员费仅占其总营收的约 50%，其它的收入主要来自在线广告和内容分发。可以说，Netflix 营收的增长完全取决于用户的增长。这句话的另一面是，一旦付费用户无法持续增长，Netflix 的商业模式就会迎来危机。\n作为流媒体平台的先驱和用户数量最庞大的 Netflix，可能更早撞上用户天花板。流媒体平台本质上是抢夺了付费电视的用户。以美国付费电视市场为例，在 2011 年付费用户达到 1.01 亿的顶峰后就逐年下滑。目前 Netflix 的美国用户约为 6700 万，也就是说，超过半数的潜在用户已经为 Netflix 买了单。就在 2021 年第一季度，Netflix 新增用户仅为 400 万，低于预期的 600 万，Netflix 的股价应声下跌了 11%。\n一个季度的糟糕表现对 Netflix 来说并不是什么严重的问题，真正伤筋动骨的是——Netflix 的市场份额可能正在被竞争对手蚕食。\n为了应对用户增长放缓带来的营收压力，Netflix 的会员费先后上涨过 5 次。最近的一次发生在 2020 年 10 月份, 基础套餐维持在 8.99 美元不变，标准和基础套餐别上涨了 1 美元和 2 美元，至 13.99 美元和 17.99 美元。\n这个价格与 Netflix 过于十几年来的主要竞争对手 HBO NOW（无广告版 14.99 美元）、HULU（无广告版 11.99 美元）差别不大，但是和迪士尼、苹果这些野心勃勃的新一代入场者相比，就没有什么优势了。迪士尼+的月费仅为 7.99 美元，苹果 TV+的费用甚至更低，仅为 4.99 美元。\n过去一年几乎是全球流媒体的战国时代，巨头迪士尼、苹果、派拉蒙相继入场。\n在今年一季度的财报分析会议上，当被问及如何看待当下的竞争时，Netflix 的创始人里德·黑斯廷斯（Reed Hastings）是这么回应的：「很明显，新的竞争一直存在。但是当我们翻看过往的数据，公司一直在保持增长，因为我们也很有信心。」\n创始人的信心是一方面，但巨头们对 Netflix 的蚕食也是实实在在。2020 年，Netflix 原创节目的市场份额从年初的 56% 跌至了 50%。\n全球原创节目市场份额。数据来源：Parrot Analytics。图片来源：纽约时报\n这背后，是 Netflix 的内容流失。因为迪士尼+的上线，Netflix 下架了一系列迪士尼 IP 内容。而 HBO，也拿回了《老友记》《生活大爆炸》、吉卜力工作室等作品的版权。同样的，老牌情景喜剧《办公室》也被 NBC 收回旗下。\n在订阅用户的观看时长中，Netflix 自制剧仅占总数的 30%，其它都来自外部版权。根据《第一财经》杂志的数据，2018 年 Netflix 播放时长前三的作品正是《办公室》《老友记》和《实习医生格蕾》。新内容可能是拉动用户增长的关键，但是对于老观众来说，他们更倾向于选择自己熟悉的作品。\n一直在原创内容发力的 Netflix，因为疫情的缘故，撤回了大部分制作计划。目前，Netflix 还没有任何大型的回归系列。\nNetflix 的模式多少像是一锤子买卖。用户观看完剧集后，就和这部剧不再发生联系。Netflix 旗下的《怪奇物语》《纸牌屋》有大批的死忠粉丝，但单一的订阅付费模式并不能完全挖掘这些 IP 的价值。这就出现了一种奇怪的现象：一边是手握钞票嗷嗷叫着「Shut up and take my money」的粉丝，一边是「无动于衷」的官方。\n图片来源：memegenetator\n去年 Netflix 自制纪录片《虎王》上线 10 天就有 3430 万人观看，是 Netflix 最成功的剧集。在电商品牌 Esty 上立刻出现了大量《虎王》周边。但无一列外，它们都是山寨的。\n在 Esty 上搜索「虎王」，仍有 8195 条结果。图片来源：Esty\n这就不难理解为什么 Netflix 要推出线上商城。在 Netflix 官方博客中，Netflix Shop 的负责人、消费品部门副总裁约什·西蒙（Josh Simon）如此写道：「我们喜欢看到好故事超越屏幕，成为人们生活的一部分。」「我们一直在考虑如何为粉丝们拓展我们的故事世界，从服装和玩具到身临其境的事件和游戏。这也是为什么今天我们推出 Netflix.shop，将其作为一个令人兴奋的新目的地，将精心策划的产品和丰富的故事结合在一个独特的 Netflix 购物体验中。」\n这字里行间都在说一件事：我们想要成为迪士尼！\n迪士尼魔法\n1929 年，有一个人到旅馆找到沃尔特·迪士尼（Walter Disney），拿出 300 美元，要求把米老鼠的形象印在写字桌上。这 300 美元成了迪士尼的第一笔「特许经营」收入。近百年后，这 300 美元成了 547 亿美元的大生意。\n翻开迪士尼的 IP 清单，你会发现这几乎是一本长不见底的名录。除了自有的原创 IP，如米老鼠、小熊维尼、迪士尼公主、狮子王等，迪士尼在 21 世纪的头 20 年还疯狂收购了皮克斯、漫威、卢卡斯影业、二十世纪福克斯。也就是说，除了米老鼠，你所熟悉的复仇者联盟、星球大战、阿凡达、玩具总动员这些 IP 全部都属于迪士尼。\n迪士尼旗下 IP 人物全家福。图片来源：psu.edu\n根据 TitleMax 2019 年的数据，全球最赚钱的 20 个 IP 中有 8 个来自迪士尼，累计经济价值达 3551.82 亿美元。其中小熊维尼、米老鼠、星球大战分别位列第 3、4、5 位。这些超过了 40 年甚至近百年的老 IP，依旧爆发出了惊人的生命力。\n其余 TOP 20 的迪士尼 IP 分别是第 7 位的迪士尼公主、11 位的漫威宇宙、12 位的蜘蛛侠、18 位的赛车总动员和 19 位的玩具总动员。图片来源：TITLEMAX\n在好莱坞，有一个著名的火车头理论：电影本身可以不赚钱，但它必须带动相关产品的发展。沃尔特·迪士尼显然深谙此道。早在 1957 年，他就画下了一张草图，清晰描述了迪士尼的商业模式。\n沃尔特·迪士尼画下的迪士尼商业模式。图片来源：kottke.org\n在这张草图中，电影制片厂处在了明确的中心位置，音乐、电视、授权商品、主题乐园和出版物都环绕在四周。拿杂志来说，电影为杂志提供了文章内容，杂志则可以宣传电影和迪士尼乐园。每一部分都紧密联系在一起，相互配合，相互补充。\n时至今日，迪士尼公司依旧没有脱离这套模式的底层逻辑。迪士尼从不把创作出的动画形象看成一次性消费品，而是作为一个可长久消费的金矿去深度挖掘。当迪士尼制作一部电影时，公司不仅仅是考虑电影本身，而如何将故事转化为商品、服务、体验和其它衍生产品。正如迪士尼前首席财务官杰·拉苏洛（Jay Rasulo）所说：「公司的每个方面都是面向品牌和特许经营的。」\n在今天，迪士尼的这种模式被叫做轮次收入。\n首先，迪士尼会以高成本推出以 IP 故事为核心的电影，通过票房赚取第一轮收入。\n然后，迪士尼会把影片版权卖给流媒体平台，赚取第二轮收入\n同时，迪士尼每推出一部新电影就会在主题乐园中增加相应的新人物，通过迪士尼乐园赚取第三轮收入。\n最后，通过特许经营、出版、零售等方式赚取第四轮收入。\n通过这四轮收入，迪士尼明明白白地「榨干」了每一个 IP 的利润。这些多种多样的盈利渠道使迪士尼比 Netflix 拥有了关键的优势，更加延续了旗下 IP 的生命力。\n为故事建立爱，把爱变成钱\n与迪士尼不同，Netflix 并没有建立线下门店的计划。目前，Netflix 已经和 Target、沃尔玛、亚马逊、H&M、丝芙兰等零售商签订了数百种周边产品的许可协议。\nNetflix 还和电商平台 Shopify 一起开发了线上商城系统。此前，Shopify 已经为 Allbirds、Kith、《纽约时报》和金·卡戴珊（Kim Kardashian）的品牌 Skims 提供过技术支持。\n而 Netflix Shop 的项目负责人西蒙，就曾经在迪士尼工作室呆过六年，担任制作和开发总监。\n这些信息似乎都在表明 Netflix 的决心：「嘿！我们可不是在玩票，我们是认真的！」\n多年来，Netflix 一直回避自己是一家娱乐公司还是科技公司。就在最近，Netflix 创始人黑斯廷斯宣称：「我们真的是一家娱乐公司。」\n按照亚马逊工作室（Amazon Studio）前高管马修·鲍尔（Matthew Ball）的说法，从本质上讲，一家娱乐公司只做三件事：\n\n创造/讲述故事\n为这些故事建立爱\n把爱变成钱\n\n按照这个标准来说，迪士尼无疑是这个星球上做得最好的公司。想想看，有多少小女孩想在逛迪士尼乐园的时候穿上爱莎的蓝色长裙？又有多少家长会为此买单？\n在讲故事和建立爱上，Netflix 已经做得足够好了，但它能把爱变成钱吗？\n哥伦比亚商学院的零售研究主任马克·A·科恩（Mark A Cohen）就表示了怀疑：「它们（Netflix 的热播剧）大多数的保质期都很短，不像迪士尼的 IP，那是一代人的漫长旅程。」\n尽管有非常多的不确定性，但当下无疑是 Netflix 财务状况最好的一年。这家公司在过去 10 年总共借款达 160 亿美元。去年年底，Netflix 在第四季度财报上表示，它不再需要寻求借款来为公司提供资金。换句话说，Netflix 成为了一家真正盈利的公司。\n而它的其它流媒体竞争对手，都还在亏着钱，包括迪士尼。","news_type":1,"symbols_score_info":{"QNETCN":0.9,"NFLX":0.9,"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":3534,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274464,"gmtCreate":1624972925358,"gmtModify":1703849126697,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274464","repostId":"1118894802","repostType":4,"repost":{"id":"1118894802","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624955420,"share":"https://ttm.financial/m/news/1118894802?lang=en_US&edition=fundamental","pubTime":"2021-06-29 16:30","market":"sh","language":"zh","title":"Market Overview: The throne of \"one brother\" in Shenzhen changed hands! Haidilao \"boils\" against the trend","url":"https://stock-news.laohu8.com/highlight/detail?id=1118894802","media":"老虎资讯综合","summary":"港股\n港股三大指数全日呈单边下跌行情，市场整体情绪表现平淡。截至收盘，恒指跌0.94%报28994点，国指跌0.98%报10757点，恒生科技指数跌0.91%报8201点。\n\n盘面上，石油板块跌幅居前","content":"<p><b>Hong Kong stock</b></p><p>The three major indices of Hong Kong stocks showed a unilateral decline throughout the day, and the overall market sentiment was flat. As of the close, the Hang Seng Index fell 0.94% to 28,994 points, the H-Share Index fell 0.98% to 10,757 points, and the Hang Seng Technology Index fell 0.91% to 8,201 points.</p><p><img src=\"https://static.tigerbbs.com/c7f0b8ac73315eee841216419d34c674\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>On the disk, the oil sector was among the top losers, and all three barrels of oil plunged, dragging down the market; Recently, strong biomedical stocks and port shipping stocks have been corrected across the board, financial stocks (insurance, securities firms, banks) have performed sluggishly, and energy stocks such as home appliance stocks, aviation stocks, medical beauty stocks, gas stocks, defense stocks, gambling stocks and coal have generally fallen; Big tech stocks are mixed,<a href=\"https://laohu8.com/S/09999\">Netease-S</a>Against the trend, it rose by 3.6%,<a href=\"https://laohu8.com/S/09618\">JD Group-SW</a>、<a href=\"https://laohu8.com/S/09888\">Baidu Group-SW</a>Closed higher,<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/09988\">Alibaba-SW</a>、<a href=\"https://laohu8.com/S/03690\">Meituan-W</a>Both fell; Catering stocks rebounded sharply,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>A surge of nearly 9%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>up 4.5%; Photovoltaic stocks are strong, property management stocks continue to rise,<a href=\"https://laohu8.com/S/00873\">Shimao Services</a>Many shares continued to hit new high prices. The turnover of the market was HK$146.1 billion, and the net inflow of southbound funds was HK$963 million against the trend.</p><p><b>A Shares</b></p><p>The three major indexes were corrected, and the Shanghai Composite Index was weakly consolidated above the 30th line, closing down 0.92% to 3,573 points throughout the day, the Shenzhen Component Index fell 0.99% to 14,999 points, and the GEM Index fell 0.19% to 3,406 points. More than 3,100 shares in the two cities fell, and the market sentiment and profit-making effect dropped significantly. After seven trading days, the turnover returned to below one trillion yuan again, reaching 997.4 billion yuan, and the northbound capital sold 3.14 billion yuan in the whole day.</p><p><img src=\"https://static.tigerbbs.com/55bf301fcd48fb59b0f70e721046a291\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The concept performance was sluggish, and concept stocks such as military industry, finance, liquor, chips and 5G generally fell; Most funds flow to the concept of photovoltaics,<a href=\"https://laohu8.com/S/300118\">Oriental Sunrise</a>Wait for the daily limit of ten stocks,<a href=\"https://laohu8.com/S/601012\">LONGi</a>Up more than 3%; Silicone concept was strong throughout the day,<a href=\"https://laohu8.com/S/603260\">Hopson Silicon</a>The daily limit reached a new high; Concepts such as HIT battery, lithium extraction from salt lake, infants and children, and online travel were active, and most textile and apparel stocks rose.</p><p><a href=\"https://laohu8.com/S/300750\">CATL</a>The stock price hit another record high, rising nearly 3% as of the close, and the latest market value was 1,184.3 billion yuan, surpassing<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>Become the \"first brother\" of Shenzhen.</p><p><img src=\"https://static.tigerbbs.com/93d3ce21ca8d59215a3c2e1be2a9f337\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>U.S. stocks</b></p><p>The three major stock index futures in the United States were mixed. As of press time, the Dow futures rose by 0.17%; Nasdaq 100 futures fell 0.24%; S&P 500 futures fell 0.02%.</p><p><img src=\"https://static.tigerbbs.com/83895d64ec668d72dcb5edf73dbeff5d\" tg-width=\"478\" tg-height=\"182\" referrerpolicy=\"no-referrer\"></p><p>Morgan Stanley rose more than 2% premarket, doubling its quarterly Dividend to 70 cents, and will buy back up to $12 billion of shares.</p><p><img src=\"https://static.tigerbbs.com/72c436e1b865ee4e1d224f056bfd31ee\" tg-width=\"1302\" tg-height=\"833\"></p><p><b>European shares</b></p><p>Major European indexes rose across the board. As of press time, Germany's DAX index rose 0.57%,<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index rose 0.33%, the French CAC40 rose 0.35% and the European Stoxx 50 rose 0.37%.</p><p><img src=\"https://static.tigerbbs.com/2b257919c3a4379a1b3848f144a0a925\" tg-width=\"820\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><b>crude oil</b></p><p>International oil prices fell slightly. As of press time, WTI crude oil was reported at $72.79/barrel, down 0.16%; Brent oil is now traded at $74.55/barrel, down 0.17%.</p><p>International oil prices have been weighed down by concerns about slowing growth in fuel demand as a new outbreak of the highly contagious Covid variant Delta has triggered new movement restrictions across the globe. However, U.S. shale oil producers still stick to the promise of suspending the expansion, which is different from the practice of previous waves of boom cycle, which is positive for the oil market.</p><p><img src=\"https://static.tigerbbs.com/2317c0df6a343fd5277e3356ad5ee5b4\" tg-width=\"822\" tg-height=\"833\"><img src=\"https://static.tigerbbs.com/e4c741ddb202c84a0df34706caf5f957\" tg-width=\"822\" tg-height=\"833\"></p><p><b>Gold</b></p><p>International gold fell slightly, falling 0.72% during the day to $1,767.8/oz.</p><p>The international gold price has continued to fluctuate sideways in a narrow range for more than a week, and investors' fears that the Federal Reserve will tighten monetary policy sooner than expected have weakened the attractiveness of gold. Gold remains technically bearish, with the underlying support looking towards $1748. But the US Dollar Index has hovered below the 92 integer mark over the past week, limiting the gold's downside.</p><p><img src=\"https://static.tigerbbs.com/7e5ed09a2cb81ab881444e6e45deed9d\" tg-width=\"822\" tg-height=\"833\"></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>Market Overview: The throne of \"one brother\" in Shenzhen changed hands! Haidilao \"boils\" against the trend</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\">\nMarket Overview: The throne of \"one brother\" in Shenzhen changed hands! Haidilao \"boils\" against the trend\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-29 16:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Hong Kong stock</b></p><p>The three major indices of Hong Kong stocks showed a unilateral decline throughout the day, and the overall market sentiment was flat. As of the close, the Hang Seng Index fell 0.94% to 28,994 points, the H-Share Index fell 0.98% to 10,757 points, and the Hang Seng Technology Index fell 0.91% to 8,201 points.</p><p><img src=\"https://static.tigerbbs.com/c7f0b8ac73315eee841216419d34c674\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>On the disk, the oil sector was among the top losers, and all three barrels of oil plunged, dragging down the market; Recently, strong biomedical stocks and port shipping stocks have been corrected across the board, financial stocks (insurance, securities firms, banks) have performed sluggishly, and energy stocks such as home appliance stocks, aviation stocks, medical beauty stocks, gas stocks, defense stocks, gambling stocks and coal have generally fallen; Big tech stocks are mixed,<a href=\"https://laohu8.com/S/09999\">Netease-S</a>Against the trend, it rose by 3.6%,<a href=\"https://laohu8.com/S/09618\">JD Group-SW</a>、<a href=\"https://laohu8.com/S/09888\">Baidu Group-SW</a>Closed higher,<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/09988\">Alibaba-SW</a>、<a href=\"https://laohu8.com/S/03690\">Meituan-W</a>Both fell; Catering stocks rebounded sharply,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>A surge of nearly 9%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>up 4.5%; Photovoltaic stocks are strong, property management stocks continue to rise,<a href=\"https://laohu8.com/S/00873\">Shimao Services</a>Many shares continued to hit new high prices. The turnover of the market was HK$146.1 billion, and the net inflow of southbound funds was HK$963 million against the trend.</p><p><b>A Shares</b></p><p>The three major indexes were corrected, and the Shanghai Composite Index was weakly consolidated above the 30th line, closing down 0.92% to 3,573 points throughout the day, the Shenzhen Component Index fell 0.99% to 14,999 points, and the GEM Index fell 0.19% to 3,406 points. More than 3,100 shares in the two cities fell, and the market sentiment and profit-making effect dropped significantly. After seven trading days, the turnover returned to below one trillion yuan again, reaching 997.4 billion yuan, and the northbound capital sold 3.14 billion yuan in the whole day.</p><p><img src=\"https://static.tigerbbs.com/55bf301fcd48fb59b0f70e721046a291\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The concept performance was sluggish, and concept stocks such as military industry, finance, liquor, chips and 5G generally fell; Most funds flow to the concept of photovoltaics,<a href=\"https://laohu8.com/S/300118\">Oriental Sunrise</a>Wait for the daily limit of ten stocks,<a href=\"https://laohu8.com/S/601012\">LONGi</a>Up more than 3%; Silicone concept was strong throughout the day,<a href=\"https://laohu8.com/S/603260\">Hopson Silicon</a>The daily limit reached a new high; Concepts such as HIT battery, lithium extraction from salt lake, infants and children, and online travel were active, and most textile and apparel stocks rose.</p><p><a href=\"https://laohu8.com/S/300750\">CATL</a>The stock price hit another record high, rising nearly 3% as of the close, and the latest market value was 1,184.3 billion yuan, surpassing<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>Become the \"first brother\" of Shenzhen.</p><p><img src=\"https://static.tigerbbs.com/93d3ce21ca8d59215a3c2e1be2a9f337\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>U.S. stocks</b></p><p>The three major stock index futures in the United States were mixed. As of press time, the Dow futures rose by 0.17%; Nasdaq 100 futures fell 0.24%; S&P 500 futures fell 0.02%.</p><p><img src=\"https://static.tigerbbs.com/83895d64ec668d72dcb5edf73dbeff5d\" tg-width=\"478\" tg-height=\"182\" referrerpolicy=\"no-referrer\"></p><p>Morgan Stanley rose more than 2% premarket, doubling its quarterly Dividend to 70 cents, and will buy back up to $12 billion of shares.</p><p><img src=\"https://static.tigerbbs.com/72c436e1b865ee4e1d224f056bfd31ee\" tg-width=\"1302\" tg-height=\"833\"></p><p><b>European shares</b></p><p>Major European indexes rose across the board. As of press time, Germany's DAX index rose 0.57%,<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index rose 0.33%, the French CAC40 rose 0.35% and the European Stoxx 50 rose 0.37%.</p><p><img src=\"https://static.tigerbbs.com/2b257919c3a4379a1b3848f144a0a925\" tg-width=\"820\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><b>crude oil</b></p><p>International oil prices fell slightly. As of press time, WTI crude oil was reported at $72.79/barrel, down 0.16%; Brent oil is now traded at $74.55/barrel, down 0.17%.</p><p>International oil prices have been weighed down by concerns about slowing growth in fuel demand as a new outbreak of the highly contagious Covid variant Delta has triggered new movement restrictions across the globe. However, U.S. shale oil producers still stick to the promise of suspending the expansion, which is different from the practice of previous waves of boom cycle, which is positive for the oil market.</p><p><img src=\"https://static.tigerbbs.com/2317c0df6a343fd5277e3356ad5ee5b4\" tg-width=\"822\" tg-height=\"833\"><img src=\"https://static.tigerbbs.com/e4c741ddb202c84a0df34706caf5f957\" tg-width=\"822\" tg-height=\"833\"></p><p><b>Gold</b></p><p>International gold fell slightly, falling 0.72% during the day to $1,767.8/oz.</p><p>The international gold price has continued to fluctuate sideways in a narrow range for more than a week, and investors' fears that the Federal Reserve will tighten monetary policy sooner than expected have weakened the attractiveness of gold. Gold remains technically bearish, with the underlying support looking towards $1748. But the US Dollar Index has hovered below the 92 integer mark over the past week, limiting the gold's downside.</p><p><img src=\"https://static.tigerbbs.com/7e5ed09a2cb81ab881444e6e45deed9d\" tg-width=\"822\" tg-height=\"833\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"300750":"宁德时代","399001":"深证成指","399006":"创业板指",".SPX":"S&P 500 Index","HSCCI":"红筹指数",".DJI":"道琼斯","HSTECH":"恒生科技指数","HSCEI":"国企指数",".IXIC":"NASDAQ Composite","000001.SH":"上证指数","HSI":"恒生指数","06862":"海底捞"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118894802","content_text":"港股\n港股三大指数全日呈单边下跌行情，市场整体情绪表现平淡。截至收盘，恒指跌0.94%报28994点，国指跌0.98%报10757点，恒生科技指数跌0.91%报8201点。\n\n盘面上，石油板块跌幅居前，三桶油皆重挫拖累大市走低；近期强势的生物医药股、港口航运股全线回调，金融股(保险、券商、银行)表现低迷，家电股、航空股、医美股、燃气股、军工股、濠赌股、煤炭等能源股普遍下跌；大型科技股涨跌不一，网易-S逆势大涨3.6%，京东集团-SW、百度集团-SW收涨，腾讯、阿里巴巴-SW、美团-W均下跌；餐饮股大幅反弹，海底捞大涨近9%，呷哺呷哺涨4.5%；光伏股强势，物管股继续上扬，世茂服务等多股续创新高价。大市成交额为1461亿港元，南下资金逆势净流入9.63亿港元。\nA股\n三大指数回调，沪指在30日线上方弱势整理，全天收跌0.92%报3573点，深成指跌0.99%报14999点，创业板指跌0.19%报3406点。两市3100余股下跌，市场情绪及赚钱效应明显回落，成交额时隔七个交易日再次回至万亿下方，为9974亿，北上资金全天净卖出31.4亿。\n\n题材概念表现低迷，军工、金融、白酒、芯片、5G等概念股普遍下跌；资金多数流向光伏概念，东方日升等十股涨停，隆基股份涨逾3%；有机硅概念全天强势，合盛硅业涨停创新高；HIT电池、盐湖提锂、婴童、在线旅游等概念活跃，纺织服饰股多数上涨。\n宁德时代股价再创历史新高，截至收盘，涨近3%，最新市值11843亿元，超越五粮液成为深市“一哥”。\n\n美股\n美国三大股指期货涨跌不一，截至发稿，道指期货涨0.17%；纳斯达克100指数期货跌0.24%；标普500指数期货跌0.02%。\n\n摩根士丹利盘前涨超2%，摩根士丹利将季度股息翻倍至70美分，将回购最高120亿美元股票。\n\n欧股\n欧洲主要指数全线上涨，截止发稿，德国DAX指数涨0.57%，英国富时100指数涨0.33%，法国CAC40指数涨0.35%，欧洲斯托克50指数涨0.37%。\n\n原油\n国际油价小幅下跌，截止发稿，WTI原油报72.79美元/桶，跌0.16%；布油现报74.55美元/桶，跌0.17%。\n国际油价受到对燃料需求增长放缓的担忧拖累，因为高传染性新冠变种病毒Delta的新疫情在全球引发了新的行动限制。不过美国页岩油生产商仍坚守暂停扩大指出的承诺，有异于先前几波景气循环荣景时的做法，对油市构成利好。\n\n黄金\n国际黄金小幅走低，日内跌0.72%，报1767.8美元/盎司。\n国际金价延续逾一周的横盘窄幅震荡态势，投资者对美联储将比预期更早收紧货币政策的担忧削弱了黄金的吸引力。技术上看金价仍看跌，下方支撑看向1748美元。但美元指数过去一周徘徊在92整数关口下方，限制了黄金下行空间。","news_type":1,"symbols_score_info":{"300750":0.9,"399001":0.9,"399006":0.9,"06862":0.9,"HSTECH":0.9,"000001.SH":0.9,"HSCCI":0.9,"HSCEI":0.9,"HSI":0.9,".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274834,"gmtCreate":1624972910628,"gmtModify":1703849125887,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"&nbsp;?","listText":"&nbsp;?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274834","repostId":"1188452851","repostType":4,"repost":{"id":"1188452851","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624960188,"share":"https://ttm.financial/m/news/1188452851?lang=en_US&edition=fundamental","pubTime":"2021-06-29 17:49","market":"sh","language":"zh","title":"61 daily limit, what \"demon wind\" is blown by the most cattle ST stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=1188452851","media":"华尔街见闻","summary":"如果问今年最妖的股是哪只，那一定非*ST众泰莫属。\n今年以来，*ST众泰在100多个交易日狂拉61个涨停，成为A股涨停王，股价也从年初的1.34元飙升至目前的7.5元，足足涨了460%，股价翻了5倍！","content":"<p>If you ask which is the most demon stock this year, it must not be<a href=\"https://laohu8.com/S/000980\">*ST Zotye</a>No one else.</p><p>Since the beginning of this year, *ST Zotye has pulled 61 daily limits in more than 100 trading days, becoming<b>A-share daily limit king</b>The stock price has also soared from 1.34 yuan at the beginning of the year to 7.5 yuan at present, up 460%, and the stock price has doubled five times!</p><p>If calculated according to the highest increase, *ST Zotye's<b>The cumulative increase is as high as 628%, more than 6 times!</b></p><p><img src=\"https://static.tigerbbs.com/83019cb4d2e69da5e15ccb2c837e3f24\" tg-width=\"840\" tg-height=\"470\"></p><p>During this period, the company repeatedly issued announcements of stock price changes and indicative announcements that stocks may be subject to delisting risk warnings, and after three suspension verifications, it failed to prevent the stock price from \"riding the dust\".</p><p>According to<a href=\"https://laohu8.com/S/300033\">Flush</a>According to statistics, since January 11th as of June 24th, *ST Zotye has been on the Dragon and Tiger List of the exchange 23 times, attracting a lot of hot money to participate in speculation.</p><p>According to the data of Choice Dragon and Tiger List, as of June 24th, *ST Zotye has purchased the top five business departments with the largest amount in three consecutive trading days, which are all known as \"retail base camps\"<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>Securities Lhasa Sales Department.</p><p><img src=\"https://static.tigerbbs.com/46071fe71f43e7f8af7638a92f29ea34\" tg-width=\"1080\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p>It is worth noting that,<b>Due to continuous losses, *ST Zotye is at risk of being terminated from listing. After tens of billions of losses in 2019 that shocked the auto industry</b>, *ST Zotye 2020<b>Another loss of 10.801 billion yuan</b>As of the end of 2020, the company's net assets were-4.423 billion yuan. According to the regulations, the company's audited net assets in 2020 are negative, and the company's shares continue to be treated with \"delisting risk warning\".</p><p><b>01. Restructuring expectations cause *ST Zotye to soar</b></p><p>Throughout the hype history of *ST Zotye, it has always been inseparable from the \"restructuring expectation\".</p><p>On the evening of January 11th this year, *ST Zotye issued the Announcement on the Progress of Public Recruitment of Investors, saying that on December 25th and December 28th, 2020, the pre-reorganization manager signed the Confidentiality Agreement with one intended investor and the Confidentiality Agreement and the Intent Agreement with another intended investor respectively.</p><p><b>Since then</b>，<b>*ST Zotye's share price began to \"rise and rise\".</b></p><p>The two intended investors have paid the corresponding confidentiality deposit and intention deposit, and started to carry out specific due diligence work after paying the deposit. As the saying goes, \"stock speculation is expected\", and the expectation of \"someone taking over and reorganizing\" has become the core driving force for *ST Zotye's continuous rise.<img src=\"https://static.tigerbbs.com/d01c30a1357f4ca66327ea763408b69c\" tg-width=\"613\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>In this regard,<b>The market once rumored that investors may be<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Millet,<a href=\"https://laohu8.com/S/NIO\">Nio</a>And one of Baoneng, among which Baoneng was once \"hammered\" by the official news.</b></p><p>But later, *ST Zotye emphasized that Tesla, Xiaomi, Nio and Baoneng were not pre-restructuring investors of the company.</p><p>According to the media, official website of Linyi Municipal Bureau of Commerce in Shandong Province has announced that the cooperation project between Baoneng Automobile Group Co., Ltd., a subsidiary of Baoneng Group, and Linyi Zotye has entered the stage of substantive negotiation.</p><p>However, Baoneng Automobile denied the above statement to many media, and subsequently, Linyi Municipal Bureau of Commerce also revoked the release.</p><p><b>02. Zhibo Investment terminated the investment company, and the first and second largest tradable shareholders both \"ran away\"</b></p><p>After pulling 61 daily limits,<b>A major negative thunderbolt from the blue may become the straw that crushes *ST Zotye.</b></p><p>On the evening of June 25th, Zotye Automobile announced that according to the relevant agreement of the Confidentiality Agreement signed by the intended investor Zhibo Investment and the company in December 2020, Zhibo Investment decided to terminate its investment in the company.</p><p><img src=\"https://static.tigerbbs.com/5d029f53c2c47afc85afae9ea489f8f0\" tg-width=\"682\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the announcement also suggested that the company's stock may face the risk of termination of listing. If the company successfully implements the reorganization and completes the reorganization plan, it will help to optimize the asset and liability structure of the company and enhance the company's sustainable operation and profitability. If the reorganization fails, the company will be at risk of being declared bankrupt.</p><p>On Monday, June 28th, *ST Zotye opened with a drop limit, with more than 480,000 closed orders and more than 350 million yuan.</p><p><b>Some analysts have sorted out the dynamic timeline of *ST Zotye's intended investors. In fact, things can be traced back to December last year.</b></p><p>On 25 December 2020, *ST Zotye disclosed for the first time that Shanghai Zhiyang signed the Confidentiality Agreement and the Intent Agreement with the pre-reorganization manager, and paid the corresponding confidentiality deposit and intention deposit. On 28 December 2020, Hunan Zhibo signed the Confidentiality Agreement with the Pre-Reorganization Manager and paid the corresponding confidentiality deposit.</p><p><img src=\"https://static.tigerbbs.com/f3948a0dfa5378ccb2f70cea501d90ce\" tg-width=\"656\" tg-height=\"276\" referrerpolicy=\"no-referrer\"></p><p><b>According to the announcement of *ST Zotye on April 7th, there are currently two intended investors in the company</b>One is Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as \"Shanghai Zhiyang\"), and the other is Hunan Zhibo Equity Investment Fund Management Co., Ltd. (hereinafter referred to as \"Hunan Zhibo\"). According to the investigation, these two companies are private equity fund managers with registered capitals of 50 million yuan and 10 million yuan respectively, and neither of them has a related background in the automobile industry chain.</p><p><b>In May, however, things took another turn</b>。 On the evening of May 12th, *ST Zotye, which has entered the pre-reorganization stage, announced that the company received a letter from Shanghai Zhiyang Investment Co., Ltd. handed over by the company's pre-reorganization manager on May 12th, 2021: \"Based on the company's evaluation of the due diligence results of Zotye Automobile Co., Ltd. (hereinafter referred to as Zotye Automobile) and the recent change of Zotye Automobile's share price, which seriously deviated from its fundamentals, the company decided to suspend the investment in Zotye Automobile due to investment prudence.\"</p><p><b>Now, Zhibo Investment has chosen to terminate its investment in Zotye Automobile, and another intended investor, Shanghai Zhiyang, has also announced the suspension of investment. There is great uncertainty about whether it will finally decide to restructure Zotye Automobile</b>。</p><p>What never comes alone is that, except for the termination of investment by institutions,<b>Even *ST Zotye's \"own family\" played a big reduction</b>。</p><p>On May 24th and May 27th, *ST Zotye respectively issued two pre-disclosure announcements on shareholders holding more than 5% of the shares to reduce the company's shares. First of all, Great Wall (Deyang) Changfu Investment Fund Partnership, a shareholder holding 7.03% of the shares, plans to reduce the company's shares by centralized bidding or block trading by no more than 2.03% of the company's total share capital; Secondly, Wuhan Tianfeng Zhixin Investment Center (Limited Partnership), a 5.84% shareholder, plans to use centralized bidding or block transactions<b>\"Clearance\" reduction</b>。</p><p>Wind data shows that the company's first quarterly report shows that Great Wall Changfu and Tianfeng Zhixin are the company's first and second largest tradable shareholders respectively.</p><p>Economic Daily News believes that,<b>The two major shareholders suddenly made such a move when the stock price was at a high level. Besides gaining profits, the loss of confidence in the future of *ST Zotye can also be clearly felt</b>。</p><p>Next, *ST Zotye, which is \"all four empty\" and \"rumbling\", will continue to hit the limit for several consecutive times, or will it continue to be speculated by funds to reach a new high?</p><p><b>03. The core value lies in the license plate, but the \"knockoff Porsche\" can't bear it</b></p><p>For the connecting board of *ST Zotye,<b>The entry of new car-making forces may be one of the catalysts</b>。</p><p>Recently, giants such as Xiaomi, Huawei and Didi have successively launched car-building plans, and the qualification of new forces to build cars is a car-building qualification.<b>However, up to now, the National Development and Reform Commission has stopped issuing new energy vehicle production qualification</b>。</p><p><b>And Zotye has the production qualification of new energy passenger vehicles and commercial vehicles</b>。 According to the data, Zotye is one of the earliest car companies to enter the new energy automobile industry in China, and it is also the first invention patent in the field of pure electric vehicles in China, and the first enterprise to obtain the production and sales license of pure electric passenger vehicles.</p><p>Nevertheless,<b>But Zotye's rapid expansion by imitating luxury cars has surprised people</b>。 In 2016, the company introduced the Zotye SR9, which looks like a Porsche Macan, and is dubbed \"Porsche\". In addition, due to frequent quality problems, the sales of Zotye automobiles have declined rapidly in recent years.</p><p><img src=\"https://static.tigerbbs.com/aeb2f12b758335d213c513448b74d590\" tg-width=\"503\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>Such a cottage painting style, coupled with worrying quality problems, even if there is a license plate so what? In the end, it is difficult to convince investors and partners.</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>61 daily limit, what \"demon wind\" is blown by the most cattle ST stocks?</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; 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}\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\">\n61 daily limit, what \"demon wind\" is blown by the most cattle ST stocks?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-29 17:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>If you ask which is the most demon stock this year, it must not be<a href=\"https://laohu8.com/S/000980\">*ST Zotye</a>No one else.</p><p>Since the beginning of this year, *ST Zotye has pulled 61 daily limits in more than 100 trading days, becoming<b>A-share daily limit king</b>The stock price has also soared from 1.34 yuan at the beginning of the year to 7.5 yuan at present, up 460%, and the stock price has doubled five times!</p><p>If calculated according to the highest increase, *ST Zotye's<b>The cumulative increase is as high as 628%, more than 6 times!</b></p><p><img src=\"https://static.tigerbbs.com/83019cb4d2e69da5e15ccb2c837e3f24\" tg-width=\"840\" tg-height=\"470\"></p><p>During this period, the company repeatedly issued announcements of stock price changes and indicative announcements that stocks may be subject to delisting risk warnings, and after three suspension verifications, it failed to prevent the stock price from \"riding the dust\".</p><p>According to<a href=\"https://laohu8.com/S/300033\">Flush</a>According to statistics, since January 11th as of June 24th, *ST Zotye has been on the Dragon and Tiger List of the exchange 23 times, attracting a lot of hot money to participate in speculation.</p><p>According to the data of Choice Dragon and Tiger List, as of June 24th, *ST Zotye has purchased the top five business departments with the largest amount in three consecutive trading days, which are all known as \"retail base camps\"<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>Securities Lhasa Sales Department.</p><p><img src=\"https://static.tigerbbs.com/46071fe71f43e7f8af7638a92f29ea34\" tg-width=\"1080\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p>It is worth noting that,<b>Due to continuous losses, *ST Zotye is at risk of being terminated from listing. After tens of billions of losses in 2019 that shocked the auto industry</b>, *ST Zotye 2020<b>Another loss of 10.801 billion yuan</b>As of the end of 2020, the company's net assets were-4.423 billion yuan. According to the regulations, the company's audited net assets in 2020 are negative, and the company's shares continue to be treated with \"delisting risk warning\".</p><p><b>01. Restructuring expectations cause *ST Zotye to soar</b></p><p>Throughout the hype history of *ST Zotye, it has always been inseparable from the \"restructuring expectation\".</p><p>On the evening of January 11th this year, *ST Zotye issued the Announcement on the Progress of Public Recruitment of Investors, saying that on December 25th and December 28th, 2020, the pre-reorganization manager signed the Confidentiality Agreement with one intended investor and the Confidentiality Agreement and the Intent Agreement with another intended investor respectively.</p><p><b>Since then</b>，<b>*ST Zotye's share price began to \"rise and rise\".</b></p><p>The two intended investors have paid the corresponding confidentiality deposit and intention deposit, and started to carry out specific due diligence work after paying the deposit. As the saying goes, \"stock speculation is expected\", and the expectation of \"someone taking over and reorganizing\" has become the core driving force for *ST Zotye's continuous rise.<img src=\"https://static.tigerbbs.com/d01c30a1357f4ca66327ea763408b69c\" tg-width=\"613\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>In this regard,<b>The market once rumored that investors may be<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Millet,<a href=\"https://laohu8.com/S/NIO\">Nio</a>And one of Baoneng, among which Baoneng was once \"hammered\" by the official news.</b></p><p>But later, *ST Zotye emphasized that Tesla, Xiaomi, Nio and Baoneng were not pre-restructuring investors of the company.</p><p>According to the media, official website of Linyi Municipal Bureau of Commerce in Shandong Province has announced that the cooperation project between Baoneng Automobile Group Co., Ltd., a subsidiary of Baoneng Group, and Linyi Zotye has entered the stage of substantive negotiation.</p><p>However, Baoneng Automobile denied the above statement to many media, and subsequently, Linyi Municipal Bureau of Commerce also revoked the release.</p><p><b>02. Zhibo Investment terminated the investment company, and the first and second largest tradable shareholders both \"ran away\"</b></p><p>After pulling 61 daily limits,<b>A major negative thunderbolt from the blue may become the straw that crushes *ST Zotye.</b></p><p>On the evening of June 25th, Zotye Automobile announced that according to the relevant agreement of the Confidentiality Agreement signed by the intended investor Zhibo Investment and the company in December 2020, Zhibo Investment decided to terminate its investment in the company.</p><p><img src=\"https://static.tigerbbs.com/5d029f53c2c47afc85afae9ea489f8f0\" tg-width=\"682\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the announcement also suggested that the company's stock may face the risk of termination of listing. If the company successfully implements the reorganization and completes the reorganization plan, it will help to optimize the asset and liability structure of the company and enhance the company's sustainable operation and profitability. If the reorganization fails, the company will be at risk of being declared bankrupt.</p><p>On Monday, June 28th, *ST Zotye opened with a drop limit, with more than 480,000 closed orders and more than 350 million yuan.</p><p><b>Some analysts have sorted out the dynamic timeline of *ST Zotye's intended investors. In fact, things can be traced back to December last year.</b></p><p>On 25 December 2020, *ST Zotye disclosed for the first time that Shanghai Zhiyang signed the Confidentiality Agreement and the Intent Agreement with the pre-reorganization manager, and paid the corresponding confidentiality deposit and intention deposit. On 28 December 2020, Hunan Zhibo signed the Confidentiality Agreement with the Pre-Reorganization Manager and paid the corresponding confidentiality deposit.</p><p><img src=\"https://static.tigerbbs.com/f3948a0dfa5378ccb2f70cea501d90ce\" tg-width=\"656\" tg-height=\"276\" referrerpolicy=\"no-referrer\"></p><p><b>According to the announcement of *ST Zotye on April 7th, there are currently two intended investors in the company</b>One is Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as \"Shanghai Zhiyang\"), and the other is Hunan Zhibo Equity Investment Fund Management Co., Ltd. (hereinafter referred to as \"Hunan Zhibo\"). According to the investigation, these two companies are private equity fund managers with registered capitals of 50 million yuan and 10 million yuan respectively, and neither of them has a related background in the automobile industry chain.</p><p><b>In May, however, things took another turn</b>。 On the evening of May 12th, *ST Zotye, which has entered the pre-reorganization stage, announced that the company received a letter from Shanghai Zhiyang Investment Co., Ltd. handed over by the company's pre-reorganization manager on May 12th, 2021: \"Based on the company's evaluation of the due diligence results of Zotye Automobile Co., Ltd. (hereinafter referred to as Zotye Automobile) and the recent change of Zotye Automobile's share price, which seriously deviated from its fundamentals, the company decided to suspend the investment in Zotye Automobile due to investment prudence.\"</p><p><b>Now, Zhibo Investment has chosen to terminate its investment in Zotye Automobile, and another intended investor, Shanghai Zhiyang, has also announced the suspension of investment. There is great uncertainty about whether it will finally decide to restructure Zotye Automobile</b>。</p><p>What never comes alone is that, except for the termination of investment by institutions,<b>Even *ST Zotye's \"own family\" played a big reduction</b>。</p><p>On May 24th and May 27th, *ST Zotye respectively issued two pre-disclosure announcements on shareholders holding more than 5% of the shares to reduce the company's shares. First of all, Great Wall (Deyang) Changfu Investment Fund Partnership, a shareholder holding 7.03% of the shares, plans to reduce the company's shares by centralized bidding or block trading by no more than 2.03% of the company's total share capital; Secondly, Wuhan Tianfeng Zhixin Investment Center (Limited Partnership), a 5.84% shareholder, plans to use centralized bidding or block transactions<b>\"Clearance\" reduction</b>。</p><p>Wind data shows that the company's first quarterly report shows that Great Wall Changfu and Tianfeng Zhixin are the company's first and second largest tradable shareholders respectively.</p><p>Economic Daily News believes that,<b>The two major shareholders suddenly made such a move when the stock price was at a high level. Besides gaining profits, the loss of confidence in the future of *ST Zotye can also be clearly felt</b>。</p><p>Next, *ST Zotye, which is \"all four empty\" and \"rumbling\", will continue to hit the limit for several consecutive times, or will it continue to be speculated by funds to reach a new high?</p><p><b>03. The core value lies in the license plate, but the \"knockoff Porsche\" can't bear it</b></p><p>For the connecting board of *ST Zotye,<b>The entry of new car-making forces may be one of the catalysts</b>。</p><p>Recently, giants such as Xiaomi, Huawei and Didi have successively launched car-building plans, and the qualification of new forces to build cars is a car-building qualification.<b>However, up to now, the National Development and Reform Commission has stopped issuing new energy vehicle production qualification</b>。</p><p><b>And Zotye has the production qualification of new energy passenger vehicles and commercial vehicles</b>。 According to the data, Zotye is one of the earliest car companies to enter the new energy automobile industry in China, and it is also the first invention patent in the field of pure electric vehicles in China, and the first enterprise to obtain the production and sales license of pure electric passenger vehicles.</p><p>Nevertheless,<b>But Zotye's rapid expansion by imitating luxury cars has surprised people</b>。 In 2016, the company introduced the Zotye SR9, which looks like a Porsche Macan, and is dubbed \"Porsche\". In addition, due to frequent quality problems, the sales of Zotye automobiles have declined rapidly in recent years.</p><p><img src=\"https://static.tigerbbs.com/aeb2f12b758335d213c513448b74d590\" tg-width=\"503\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>Such a cottage painting style, coupled with worrying quality problems, even if there is a license plate so what? In the end, it is difficult to convince investors and partners.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b8ea9e4b472cd3f7c83196f81fbd8882","relate_stocks":{"000980":"众泰汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188452851","content_text":"如果问今年最妖的股是哪只，那一定非*ST众泰莫属。\n今年以来，*ST众泰在100多个交易日狂拉61个涨停，成为A股涨停王，股价也从年初的1.34元飙升至目前的7.5元，足足涨了460%，股价翻了5倍！\n如果按照最高涨幅计算，*ST众泰年内的累计涨幅更是高达628%，超过6倍！\n\n期间公司多次发布股价异动公告及股票可能被实施退市风险警示的提示性公告，并历经3次停牌核查，也未能阻止股价“一骑绝尘”。\n据同花顺统计，自1月11日以来截至6月24日，*ST众泰登上交易所龙虎榜的次数高达23次，吸引了诸多游资参与炒作。\nChoice龙虎榜数据显示，截至6月24日，*ST众泰连续三个交易日内，买入金额最大的前5名营业部均为被称为“散户大本营”的东方财富证券拉萨营业部。\n\n值得注意的是，由于连续亏损，*ST众泰存在被终止上市的风险。在继2019年出现震惊汽车行业的百亿亏损后，*ST众泰2020年再度亏损108.01亿元，截至2020年末，公司净资产为-44.23亿元。根据规定，公司2020年度经审计后的净资产为负值，公司股票继续被实施“退市风险警示”处理。\n01、重组预期致*ST众泰暴涨\n纵观*ST众泰的炒作历史，则一向与“重组预期”脱不开干系。\n今年1月11日晚间，*ST众泰发布《关于公开招募投资人的进展公告》称，2020年12月25日、12月28日，预重整管理人分别与一家意向投资人签署了《保密协议》，与另一家意向投资人签署了《保密协议》和《意向协议书》。\n自此以后，*ST众泰的股价便开始“涨涨不休”。\n两家意向投资人已缴纳相应的保密保证金和意向保证金，并着手在缴纳保证金后开展具体的尽职调查工作。正所谓“炒股炒的是预期”，“有人接盘重整”的预期成为之后*ST众泰不断上涨的核心驱动力。\n对此，市场一度传言投资方可能为特斯拉、小米、蔚来和宝能的其中之一，其中宝能还一度被官方消息“实锤”。\n但后来，*ST众泰又强调称，特斯拉、小米、蔚来和宝能均不是公司预重整投资人。\n据媒体了解，山东临沂市商务局官网曾发布消息称，宝能集团旗下宝能汽车集团有限公司与临沂众泰合作项目已进入实质性洽谈阶段。\n不过，宝能汽车对多家媒体否认了上述说法，随后，临沂市商务局也撤销了该发布内容。\n02、致博投资终止投资公司，第一、二大流通股东双双“跑路”\n在狂拉61个涨停后，一则重大利空晴天霹雳一般，或许成为压垮*ST众泰连板的稻草。\n6月25日晚间，众泰汽车发布公告称，根据意向投资人致博投资与公司2020年12月签署的《保密协议书》的相关约定，致博投资决定终止投资本公司。\n\n同时，公告还提示，公司股票可能面临终止上市的风险。如果公司顺利实施重整并执行完毕重整计划，将有利于优化公司资产负债结构，提升公司的持续经营及盈利能力。若重整失败，公司将存在被宣告破产的风险。\n6月28日周一，*ST众泰开盘一字跌停，封单超过48万手，封单金额超过3.5亿元。\n有分析人士梳理了*ST众泰意向投资者的动态时间线，其实事情可以追溯到去年12月。\n在2020年12月25日，*ST众泰首次披露，上海智阳与预重整管理人签署了《保密协议》和《意向协议书》，并缴纳了相应的保密保证金和意向保证金。2020年12月28日，湖南致博与预重整管理人签署了《保密协议》，并缴纳了相应的保密保证金。\n\n根据4月7日*ST众泰的公告，目前公司意向投资人有两家，一家是上海智阳投资有限公司(下称“上海智阳”)，另一家是湖南致博股权投资基金管理有限公司(下称“湖南致博”)。企查查显示，这两家公司均为私募基金管理人，注册资本分别为5000万元和1000万元，且均无汽车产业链相关背景。\n然而时间到了5月，事情又发生了转折。5月12日晚间，已进入预重整阶段的*ST众泰发布公告称，公司于2021年5月12日收到公司预重整管理人转交的上海智阳投资有限公司向其发出的函：“基于本公司对众泰汽车股份有限公司(下称众泰汽车)尽职调查结果的评估，以及近期众泰汽车股价异动、严重偏离其基本面，出于投资谨慎性考虑，本公司决定暂缓推进对众泰汽车的投资事宜。”\n如今，致博投资选择终止推进对众泰汽车的投资事宜，而目前另一家意向投资人上海智阳亦宣布暂缓投资，是否最终决定重组众泰汽车存在很大不确定性。\n祸不单行的是，除了有机构终止投资，就连*ST众泰的“自家人”也玩起了大减持。\n5月24日和5月27日，*ST众泰分别发布了两则关于持股5%以上股东减持公司股份的预披露公告。首先，持股7.03%的股东长城（德阳）长富投资基金合伙企业计划以集中竞价方式或大宗交易方式减持公司股份合计不超过公司总股本比例 2.03%；其次，持股5.84%的股东武汉天风智信投资中心（有限合伙）计划以集中竞价方式或大宗交易方式“清仓式”减持。\nWind数据显示，公司一季报显示，长城长富和天风智信分别为公司第一、第二大流通股东。\n每日经济新闻认为，两位大股东在股价处于高位时突然来这么一招，除了获取收益之外，对*ST众泰的未来失去信心也是可以明确感觉到的。\n接下来，“四大皆空”“风声鹤唳”的*ST众泰将会连续数跌停板，还是继续被资金炒作再创新高呢？\n03、核心价值在牌照，但“山寨保时捷”不能忍\n对于*ST众泰的连板，造车新势力的入局或许是催化之一。\n近日，小米、华为、滴滴等巨头先后启动造车计划，而新势力造车的参赛资格就是一张造车资质，但截至目前发改委已停发新能源车生产资质。\n而众泰拥有新能源乘用车和商用车的生产资质。资料显示，众泰是国内最早进入新能源汽车行业的车企之一，也上国内第一个纯电动整车领域的发明专利、第一个获得了纯电动乘用车生产销售许可证的企业。\n尽管如此，但众泰采用模仿豪车的方式迅速扩张，让人大跌眼镜。2016年，公司推出了外形酷似保时捷Macan的众泰SR9，被称为“保时泰”。此外由于质量问题频发，近年来众泰汽车销量迅速下滑。\n\n这样的山寨画风，加之以令人担忧的质量问题，即使有一张牌照又如何？最终还是难以让投资方和合作方信服。","news_type":1,"symbols_score_info":{"000980":0.9}},"isVote":1,"tweetType":1,"viewCount":3023,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274965,"gmtCreate":1624972892257,"gmtModify":1703849125725,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274965","repostId":"1139578847","repostType":4,"repost":{"id":"1139578847","kind":"news","pubTimestamp":1624961586,"share":"https://ttm.financial/m/news/1139578847?lang=en_US&edition=fundamental","pubTime":"2021-06-29 18:13","market":"us","language":"zh","title":"Blue City Brothers'\"Same Sex\" Business Experience","url":"https://stock-news.laohu8.com/highlight/detail?id=1139578847","media":"BT财经","summary":"蓝城兄弟作为亚洲LGBTQ群体的隐秘聚集地，在流量到顶后能否走通流量变现的闭环？\n\n6月中旬，号称“粉红第一股”的蓝城兄弟（Blued）公布了一季度财报，这家专注于LGBTQ垂直社交的企业交上了一份看","content":"<p><a href=\"https://laohu8.com/S/BLCT\">Blue City Brothers</a>As a secret gathering place for Asian LGBTQ communities, can we pass the closed loop of traffic realization after the traffic reaches the top? In mid-June, Blued, known as \"the first stock in *\", announced its first-quarter financial report. This company focusing on LGBTQ vertical social networking handed in a good-looking performance answer sheet.</p><p>According to the financial report, in terms of the number of users, the overall MAU (monthly active users) of Blue City Brothers reached 8.3 million, a year-on-year increase of 37.5%, and the number of paid members also reached a record high of 640,000, a year-on-year increase of 47.8%.</p><p>According to Blue City Brothers, its software has the first market share in the LGBTQ social field in China and other parts of Asia (including India, South Korea, Thailand and Vietnam). In 2021, it will also make efforts in Latin America to continue to explore the international market, and the number of users will continue to increase in the future.</p><p>However, from the perspective of business data, in the first quarter of 2021, Blue City Brothers achieved an operating income of 271.1 million yuan, a year-on-year increase of 31%, with a loss of 52.1 million yuan, compared with a loss of 7.6 million yuan in the same period of 2020, with a year-on-year increase of 585%.</p><p><b>The year-on-year growth rate of operating income looks good, but the loss has expanded instead. What happened to the Blue City brothers who increased their income without increasing their profits?</b></p><p><b>Users reach the top, increment depends on buying</b></p><p>The first Blue City Brothers in * economy can only rely on the live broadcast business to support the sky, and the vigorously cultivated health business is still in its infancy.</p><p>Previously, affected by the celebrity surrogacy incident, the \"gay\" family surrogacy business, an important part of Blue City Brothers' business closed loop, was also forced to close, and the business was publicly announced in the first quarter report of 2021.</p><p>Blue City's business development does not seem to be affected by this black swan event, and the year-on-year growth rate of business income is still considerable. In 2020, it successively acquired LESDO and FINKA, two same-sex social platforms.</p><p>In the first quarter after the completion of the acquisition, BT Finance re-examined the data of Blue City Brothers and found that: Fortunately, Blue City business finally got out of the weak state in 2020.</p><p>The user increment data of Blue Brothers in the first quarter looks very gratifying, but stretching the timeline, it is not difficult to find that the increase of data is not as optimistic as imagined.</p><p>Since the second half of 2019, the user growth of Blue City Brothers has stagnated.<b>In the three quarters from the third quarter of 2019 to the first quarter of 2020, the number of monthly active users of Blue City Brothers continued to grow at a low speed, with a quarter-on-quarter growth rate of no more than 5%.</b></p><p>Among them, the number of monthly active users in the fourth quarter of 2019 almost did not increase, and the number of users in the first quarter of 2020 only increased by 2%, about 130,000, and the momentum is very obvious.</p><p><img src=\"https://static.tigerbbs.com/75346e503d44c0ff1d2cf41ea5b04990\" tg-width=\"938\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Blue City Brothers may also realize that users have to use other methods when they are starting to enter the stock crisis.</p><p>Following its successful listing in July 2020, Blue City Brothers completed the acquisition of LESDO, a vertical social community for women, and Finka, a social software for men, in August and December 2020, respectively.</p><p>As a result, the growth rate of monthly active users in the fourth quarter of 2020 and the first quarter of 2021 changed from the previous fatigue and increased significantly. In the fourth quarter of 2020, the number of monthly active users reached 7.6 million, an increase of 20.6% from the previous month, and in the first quarter of 2021, the number of monthly active users reached 8.3 million, an increase of 9.21% from the previous month.</p><p>Blue City Brothers did not disclose the proportion of monthly active data among Blued, Finka and Lesdo in the annual report, so we can't know how much of the user increase comes from the superposition of base and how much from the endogenous operation growth.</p><p>According to reports, Finka, as a male vertical social app, has more than 3 million registered users; LESDO, on the other hand, is a representative of the female vertical social field, reaching 8 million registrations as early as 2018. Calculated according to the ratio of about 1/8 of Blued's monthly active users, these two apps will contribute about 1.5 million new monthly active users.</p><p><b>Therefore, in the past two quarters, most of the net increase of 2 million monthly active users of Blue City Brothers came from the data merger of the acquisition of LESDO and Finka, and less than 500,000 increments came from endogenous growth, with the average quarter-on-quarter growth rate still less than 5%.</b></p><p>According to statistics from Frost & Sullivan, a well-known global growth consultancy, LGBTQ people account for about 6% of the total population. If this is calculated, the number of potential LGBTQ people in China is as high as 84 million, but after excluding non-appropriate age people, non-mobile network users and some \"deep cabinet\" people, the number of LGBTQ people willing to use social software is not so large.</p><p>According to the data disclosed by Blued, the number of registered users of Blued alone has reached 59 million in the third quarter of 2020. According to half of the foreign population (half of the monthly active users are overseas people), the number of registered users in China is nearly 30 million. It can be said that the population coverage has been basically achieved and tends to be saturated.</p><p>That is to say, in the LGBTQ social field, user traffic has reached a ceiling,<b>If Blue City Brothers wants to maintain the rapid growth of user scale, they can only choose horizontal expansion: either merge with peer competitors or expand into overseas markets.</b></p><p><b>More and more like<a href=\"https://laohu8.com/S/MOMO\">Momo</a>？</b></p><p>After the successful integration with LESD and Finka, the overall MAU data of Blue City Brothers has indeed increased substantially, supporting the future imagination, but the business income has changed the opposite: although the revenue in the fourth quarter of 2020 and the first quarter of 2021 still increased compared with the same period of last year, there were two consecutive declines from the quarter-on-quarter perspective. Compared with the total revenue of 297 million yuan in the third quarter of 2020, the revenue of the fourth quarter of 2020 decreased by about 6.3% quarter-on-quarter to 279 million yuan, and the revenue of the first quarter of 2021 continued to decline to 271 million yuan.</p><p>Even from the perspective of year-on-year growth rate, the business growth rate in the fourth quarter of 2020 was only 24%, and the revenue growth rate in the first quarter of 2021 was only 30.7%, which was not only lower than the overall average growth rate of 35.8% in 2020, but also lower than the growth rate of 42.7% in the first quarter of 2020.</p><p><b>Even though factors such as the Spring Festival will lead to seasonal fluctuations in income in the first quarter, considering the small base under the influence of the epidemic in the first quarter of 2020 and the newly acquired integration of two enterprises by Blue City Brothers, such revenue performance is really lower than market expectations.</b></p><p><img src=\"https://static.tigerbbs.com/6363c81e8155b159ce04b825b11f8807\" tg-width=\"943\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p>Similarly, socializing with strangers, one is socializing with the opposite sex of mainstream groups, and the other is socializing with vertical LGBTQ people. Momo and Blue City Brothers have a lot in common, and some people even say that Blue City Brothers are like Momo two years ago.</p><p>In 2018, Momo acquired Tantan; In 2020, Blued acquired Finka, and Tantan and Finka are both screening and matching social software with left-swipe and right-swipe mode, which have become important business supplements to Momo and Blued.</p><p>From the perspective of revenue business composition, Momo is also very similar to Blued-the main source of income is live broadcast business.</p><p>Although Momo's live broadcast business revenue only accounted for about 64% of the total revenue in 2020, in 2018, Momo's live broadcast revenue accounted for 79.8%. In 2020, Blued's live streaming business accounted for 84% of the total revenue.</p><p>If we look at the input-output ratio, the benefits of Blue City Brothers are far less than those of Momo.</p><p>In 2015, Momo's annual revenue was also about 1 billion yuan. The difference is that Momo had already begun to make a profit at that time. Blued is still in a state of loss, and there is a trend of expanding losses.</p><p><img src=\"https://static.tigerbbs.com/3cb0d61d309e04fd4220418281f041d7\" tg-width=\"895\" tg-height=\"540\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of input and output of expenses, the current sales investment ratio of Blue City Brothers is lower than that of Momo in 2015, and the R&D investment ratio is equivalent to that of Momo in 2015, but it has not achieved profitability like Momo in 2015, let alone compared with the low investment and high return of Momo now.</p><p><img src=\"https://static.tigerbbs.com/307be7e9d23e2eea272836073efe91f3\" tg-width=\"895\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In short, the high amount of money invested by Blue City Brothers not only did not help themselves achieve a rapid increase in revenue, but also did not help themselves achieve a negative profit.</p><p>Invalid burning of money is the most terrible.</p><p>Due to the ceiling problem of the stock market, Blue City Brothers has to continue to enter the international market. Every country and every region needs a matching software version, and they need to promote and operate to cultivate carefully.</p><p>As a result, the R&D expenses and sales expenses of Blue City Brothers have always remained at a high level, but the business income return and traffic realization effect are not good.</p><p><b>Hidden New Business-\"Comrade\" Health</b></p><p>In the income structure of Blue City Brothers, live broadcast revenue is the absolute majority, accounting for more than 80% of the share.</p><p><b>According to the changes of live broadcast business income in the past year, the live broadcast business income, like the original number of Blued users, has encountered a ceiling bottleneck.</b></p><p>In the fourth quarter of 2020 and the first quarter of 2021, the revenue of live broadcast business showed a downward trend, with the revenue of the fourth quarter business decreasing by 12% quarter-on-quarter.</p><p>The increase of users brought by mergers and acquisitions has not brought a beneficial direct impact on the live broadcast business.</p><p><img src=\"https://static.tigerbbs.com/fee5deefcc0dedb711c8362b17f048c3\" tg-width=\"820\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Due to the particularity of same-sex social interaction, its live broadcast business has been repeatedly exposed to the incident of \"playing the edge ball\".</p><p>According to media reports, many live broadcast rooms of Blued have broadcast live in violation of the rules. \"Some anchors broadcast live during the day with the theme of 'men's group catwalk', and the 'models' on the 'runway' wore uniform white underwear.\"</p><p>\"In the process of interaction between anchors, there are many suggestive chat contents\".</p><p>Such a live broadcast scale is an absolute rule red line on other live broadcast platforms, and it basically can't pass the examination. Once faced with regulatory intervention in the future, it is unknown whether Blue City Brothers' live broadcast business income will encounter the risk of business shrinkage.</p><p>On the contrary, the membership payment business and health business are booming.</p><p><img src=\"https://static.tigerbbs.com/ee09bddab4899653070924311ac37533\" tg-width=\"817\" tg-height=\"495\" referrerpolicy=\"no-referrer\"></p><p>In the first quarter of 2021, the number of paying users increased significantly, with a quarter-on-quarter increase of 23.55% and a year-on-year increase of 47.8%, which directly affected the revenue from membership service business, which increased by 75.9% year-on-year to 26.4 million yuan.</p><p>This shows that with the regional monopoly position and the deep cultivation of LGBTQ vertical field, the user stickiness of Blue City Brothers is continuously improving.</p><p>On the one hand, user stickiness is the moat to resist risks in the future development of Blue City Brothers. On the other hand, these paying users also provide a consumer base for the health product consumption business.</p><p>To realize the change of the core of the business, we can't ignore the fast-growing and high-hoped Hole health commodity sales business of Blue City Brothers.</p><p>In the first quarter of 2021, the sales revenue of goods from Hor Health was 11.4 million yuan, a year-on-year increase of 297.7%.</p><p>Previously, Blued's e-commerce business content was mainly limited to men's health products and sexual devices, and the exploration of user needs was not in depth.</p><p>However, after 2019, Blue City Brothers launched an independent health service brand \"Hor Health\", which took HIV detection, blockade, prevention and treatment as the starting point, and was deeply close to the unspeakable \"health needs\" of gay men.</p><p><img src=\"https://static.tigerbbs.com/9dacdcffc26e47e705848fcf3e4a0b48\" tg-width=\"1055\" tg-height=\"515\" referrerpolicy=\"no-referrer\"></p><p>The earliest spread of HIV began among gay men in the United States in the 1980s. Due to their special sexual behavior, gay men have been the hardest hit area for people living with HIV. In the United States and Europe, male homosexual and bisexual men are the dominant HIV-infected group.</p><p>According to the China Health Commission, of the 96,000 new cases identified in the first three quarters of 2016, 28% were MSM (male gay sexual contacts), compared with just 2.5% in 2006.</p><p>The threat of AIDS to gay men is far higher than that of ordinary people, so this group has a higher demand for AIDS protection, detection and blockade.</p><p>Blue City Brothers has captured this \"unspeakable\" health segment. After taking AIDS health services as the entry point, Hor Health has also expanded other \"unspeakable\" health services such as sexual dysfunction and hair loss. With the accurate docking and in-depth binding of its user groups, it has opened up a unique, niche but irreplaceable health business road.</p><p><b>Compared with selling health products and sexual devices through e-commerce, Hor's health business has higher consumption frequency, greater consumption potential and deeper consumption binding.</b></p><p>In less than two years since the establishment of Hole Health Business, the business has developed rapidly, and it is expected to become the Blue City Brothers after the live broadcast.<a href=\"https://laohu8.com/S/ABCD\">newly born</a>The core business has truly opened up the closed loop of business from traffic to consumption, and the story of * economy has finally become complete.</p><p>Although compared with traditional heterosexual social platforms such as Momo, the traffic pool of Blue City Brothers business is naturally at a disadvantage. Therefore, Momo only needs to deeply manage the domestic area, which can gain much more than Blue City brothers' hard work to explore overseas markets.</p><p><b>However, with a relatively niche field + absolute market share, Blue City Brothers has gained more sticky users, stronger market barriers and clear business growth.</b></p><p>From obtaining user traffic to binding user consumption, from live broadcast to health service realization, the business story of Blue City Brothers may be \"hard to talk about\", but it also exudes its unique brilliance of \"small but beautiful\".</p>","source":"lsy1588993976395","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>Blue City Brothers'\"Same Sex\" Business Experience</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\">\nBlue City Brothers'\"Same Sex\" Business Experience\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">BT财经</strong><span class=\"h-time small\">2021-06-29 18:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/BLCT\">Blue City Brothers</a>As a secret gathering place for Asian LGBTQ communities, can we pass the closed loop of traffic realization after the traffic reaches the top? In mid-June, Blued, known as \"the first stock in *\", announced its first-quarter financial report. This company focusing on LGBTQ vertical social networking handed in a good-looking performance answer sheet.</p><p>According to the financial report, in terms of the number of users, the overall MAU (monthly active users) of Blue City Brothers reached 8.3 million, a year-on-year increase of 37.5%, and the number of paid members also reached a record high of 640,000, a year-on-year increase of 47.8%.</p><p>According to Blue City Brothers, its software has the first market share in the LGBTQ social field in China and other parts of Asia (including India, South Korea, Thailand and Vietnam). In 2021, it will also make efforts in Latin America to continue to explore the international market, and the number of users will continue to increase in the future.</p><p>However, from the perspective of business data, in the first quarter of 2021, Blue City Brothers achieved an operating income of 271.1 million yuan, a year-on-year increase of 31%, with a loss of 52.1 million yuan, compared with a loss of 7.6 million yuan in the same period of 2020, with a year-on-year increase of 585%.</p><p><b>The year-on-year growth rate of operating income looks good, but the loss has expanded instead. What happened to the Blue City brothers who increased their income without increasing their profits?</b></p><p><b>Users reach the top, increment depends on buying</b></p><p>The first Blue City Brothers in * economy can only rely on the live broadcast business to support the sky, and the vigorously cultivated health business is still in its infancy.</p><p>Previously, affected by the celebrity surrogacy incident, the \"gay\" family surrogacy business, an important part of Blue City Brothers' business closed loop, was also forced to close, and the business was publicly announced in the first quarter report of 2021.</p><p>Blue City's business development does not seem to be affected by this black swan event, and the year-on-year growth rate of business income is still considerable. In 2020, it successively acquired LESDO and FINKA, two same-sex social platforms.</p><p>In the first quarter after the completion of the acquisition, BT Finance re-examined the data of Blue City Brothers and found that: Fortunately, Blue City business finally got out of the weak state in 2020.</p><p>The user increment data of Blue Brothers in the first quarter looks very gratifying, but stretching the timeline, it is not difficult to find that the increase of data is not as optimistic as imagined.</p><p>Since the second half of 2019, the user growth of Blue City Brothers has stagnated.<b>In the three quarters from the third quarter of 2019 to the first quarter of 2020, the number of monthly active users of Blue City Brothers continued to grow at a low speed, with a quarter-on-quarter growth rate of no more than 5%.</b></p><p>Among them, the number of monthly active users in the fourth quarter of 2019 almost did not increase, and the number of users in the first quarter of 2020 only increased by 2%, about 130,000, and the momentum is very obvious.</p><p><img src=\"https://static.tigerbbs.com/75346e503d44c0ff1d2cf41ea5b04990\" tg-width=\"938\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Blue City Brothers may also realize that users have to use other methods when they are starting to enter the stock crisis.</p><p>Following its successful listing in July 2020, Blue City Brothers completed the acquisition of LESDO, a vertical social community for women, and Finka, a social software for men, in August and December 2020, respectively.</p><p>As a result, the growth rate of monthly active users in the fourth quarter of 2020 and the first quarter of 2021 changed from the previous fatigue and increased significantly. In the fourth quarter of 2020, the number of monthly active users reached 7.6 million, an increase of 20.6% from the previous month, and in the first quarter of 2021, the number of monthly active users reached 8.3 million, an increase of 9.21% from the previous month.</p><p>Blue City Brothers did not disclose the proportion of monthly active data among Blued, Finka and Lesdo in the annual report, so we can't know how much of the user increase comes from the superposition of base and how much from the endogenous operation growth.</p><p>According to reports, Finka, as a male vertical social app, has more than 3 million registered users; LESDO, on the other hand, is a representative of the female vertical social field, reaching 8 million registrations as early as 2018. Calculated according to the ratio of about 1/8 of Blued's monthly active users, these two apps will contribute about 1.5 million new monthly active users.</p><p><b>Therefore, in the past two quarters, most of the net increase of 2 million monthly active users of Blue City Brothers came from the data merger of the acquisition of LESDO and Finka, and less than 500,000 increments came from endogenous growth, with the average quarter-on-quarter growth rate still less than 5%.</b></p><p>According to statistics from Frost & Sullivan, a well-known global growth consultancy, LGBTQ people account for about 6% of the total population. If this is calculated, the number of potential LGBTQ people in China is as high as 84 million, but after excluding non-appropriate age people, non-mobile network users and some \"deep cabinet\" people, the number of LGBTQ people willing to use social software is not so large.</p><p>According to the data disclosed by Blued, the number of registered users of Blued alone has reached 59 million in the third quarter of 2020. According to half of the foreign population (half of the monthly active users are overseas people), the number of registered users in China is nearly 30 million. It can be said that the population coverage has been basically achieved and tends to be saturated.</p><p>That is to say, in the LGBTQ social field, user traffic has reached a ceiling,<b>If Blue City Brothers wants to maintain the rapid growth of user scale, they can only choose horizontal expansion: either merge with peer competitors or expand into overseas markets.</b></p><p><b>More and more like<a href=\"https://laohu8.com/S/MOMO\">Momo</a>？</b></p><p>After the successful integration with LESD and Finka, the overall MAU data of Blue City Brothers has indeed increased substantially, supporting the future imagination, but the business income has changed the opposite: although the revenue in the fourth quarter of 2020 and the first quarter of 2021 still increased compared with the same period of last year, there were two consecutive declines from the quarter-on-quarter perspective. Compared with the total revenue of 297 million yuan in the third quarter of 2020, the revenue of the fourth quarter of 2020 decreased by about 6.3% quarter-on-quarter to 279 million yuan, and the revenue of the first quarter of 2021 continued to decline to 271 million yuan.</p><p>Even from the perspective of year-on-year growth rate, the business growth rate in the fourth quarter of 2020 was only 24%, and the revenue growth rate in the first quarter of 2021 was only 30.7%, which was not only lower than the overall average growth rate of 35.8% in 2020, but also lower than the growth rate of 42.7% in the first quarter of 2020.</p><p><b>Even though factors such as the Spring Festival will lead to seasonal fluctuations in income in the first quarter, considering the small base under the influence of the epidemic in the first quarter of 2020 and the newly acquired integration of two enterprises by Blue City Brothers, such revenue performance is really lower than market expectations.</b></p><p><img src=\"https://static.tigerbbs.com/6363c81e8155b159ce04b825b11f8807\" tg-width=\"943\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p>Similarly, socializing with strangers, one is socializing with the opposite sex of mainstream groups, and the other is socializing with vertical LGBTQ people. Momo and Blue City Brothers have a lot in common, and some people even say that Blue City Brothers are like Momo two years ago.</p><p>In 2018, Momo acquired Tantan; In 2020, Blued acquired Finka, and Tantan and Finka are both screening and matching social software with left-swipe and right-swipe mode, which have become important business supplements to Momo and Blued.</p><p>From the perspective of revenue business composition, Momo is also very similar to Blued-the main source of income is live broadcast business.</p><p>Although Momo's live broadcast business revenue only accounted for about 64% of the total revenue in 2020, in 2018, Momo's live broadcast revenue accounted for 79.8%. In 2020, Blued's live streaming business accounted for 84% of the total revenue.</p><p>If we look at the input-output ratio, the benefits of Blue City Brothers are far less than those of Momo.</p><p>In 2015, Momo's annual revenue was also about 1 billion yuan. The difference is that Momo had already begun to make a profit at that time. Blued is still in a state of loss, and there is a trend of expanding losses.</p><p><img src=\"https://static.tigerbbs.com/3cb0d61d309e04fd4220418281f041d7\" tg-width=\"895\" tg-height=\"540\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of input and output of expenses, the current sales investment ratio of Blue City Brothers is lower than that of Momo in 2015, and the R&D investment ratio is equivalent to that of Momo in 2015, but it has not achieved profitability like Momo in 2015, let alone compared with the low investment and high return of Momo now.</p><p><img src=\"https://static.tigerbbs.com/307be7e9d23e2eea272836073efe91f3\" tg-width=\"895\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In short, the high amount of money invested by Blue City Brothers not only did not help themselves achieve a rapid increase in revenue, but also did not help themselves achieve a negative profit.</p><p>Invalid burning of money is the most terrible.</p><p>Due to the ceiling problem of the stock market, Blue City Brothers has to continue to enter the international market. Every country and every region needs a matching software version, and they need to promote and operate to cultivate carefully.</p><p>As a result, the R&D expenses and sales expenses of Blue City Brothers have always remained at a high level, but the business income return and traffic realization effect are not good.</p><p><b>Hidden New Business-\"Comrade\" Health</b></p><p>In the income structure of Blue City Brothers, live broadcast revenue is the absolute majority, accounting for more than 80% of the share.</p><p><b>According to the changes of live broadcast business income in the past year, the live broadcast business income, like the original number of Blued users, has encountered a ceiling bottleneck.</b></p><p>In the fourth quarter of 2020 and the first quarter of 2021, the revenue of live broadcast business showed a downward trend, with the revenue of the fourth quarter business decreasing by 12% quarter-on-quarter.</p><p>The increase of users brought by mergers and acquisitions has not brought a beneficial direct impact on the live broadcast business.</p><p><img src=\"https://static.tigerbbs.com/fee5deefcc0dedb711c8362b17f048c3\" tg-width=\"820\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Due to the particularity of same-sex social interaction, its live broadcast business has been repeatedly exposed to the incident of \"playing the edge ball\".</p><p>According to media reports, many live broadcast rooms of Blued have broadcast live in violation of the rules. \"Some anchors broadcast live during the day with the theme of 'men's group catwalk', and the 'models' on the 'runway' wore uniform white underwear.\"</p><p>\"In the process of interaction between anchors, there are many suggestive chat contents\".</p><p>Such a live broadcast scale is an absolute rule red line on other live broadcast platforms, and it basically can't pass the examination. Once faced with regulatory intervention in the future, it is unknown whether Blue City Brothers' live broadcast business income will encounter the risk of business shrinkage.</p><p>On the contrary, the membership payment business and health business are booming.</p><p><img src=\"https://static.tigerbbs.com/ee09bddab4899653070924311ac37533\" tg-width=\"817\" tg-height=\"495\" referrerpolicy=\"no-referrer\"></p><p>In the first quarter of 2021, the number of paying users increased significantly, with a quarter-on-quarter increase of 23.55% and a year-on-year increase of 47.8%, which directly affected the revenue from membership service business, which increased by 75.9% year-on-year to 26.4 million yuan.</p><p>This shows that with the regional monopoly position and the deep cultivation of LGBTQ vertical field, the user stickiness of Blue City Brothers is continuously improving.</p><p>On the one hand, user stickiness is the moat to resist risks in the future development of Blue City Brothers. On the other hand, these paying users also provide a consumer base for the health product consumption business.</p><p>To realize the change of the core of the business, we can't ignore the fast-growing and high-hoped Hole health commodity sales business of Blue City Brothers.</p><p>In the first quarter of 2021, the sales revenue of goods from Hor Health was 11.4 million yuan, a year-on-year increase of 297.7%.</p><p>Previously, Blued's e-commerce business content was mainly limited to men's health products and sexual devices, and the exploration of user needs was not in depth.</p><p>However, after 2019, Blue City Brothers launched an independent health service brand \"Hor Health\", which took HIV detection, blockade, prevention and treatment as the starting point, and was deeply close to the unspeakable \"health needs\" of gay men.</p><p><img src=\"https://static.tigerbbs.com/9dacdcffc26e47e705848fcf3e4a0b48\" tg-width=\"1055\" tg-height=\"515\" referrerpolicy=\"no-referrer\"></p><p>The earliest spread of HIV began among gay men in the United States in the 1980s. Due to their special sexual behavior, gay men have been the hardest hit area for people living with HIV. In the United States and Europe, male homosexual and bisexual men are the dominant HIV-infected group.</p><p>According to the China Health Commission, of the 96,000 new cases identified in the first three quarters of 2016, 28% were MSM (male gay sexual contacts), compared with just 2.5% in 2006.</p><p>The threat of AIDS to gay men is far higher than that of ordinary people, so this group has a higher demand for AIDS protection, detection and blockade.</p><p>Blue City Brothers has captured this \"unspeakable\" health segment. After taking AIDS health services as the entry point, Hor Health has also expanded other \"unspeakable\" health services such as sexual dysfunction and hair loss. With the accurate docking and in-depth binding of its user groups, it has opened up a unique, niche but irreplaceable health business road.</p><p><b>Compared with selling health products and sexual devices through e-commerce, Hor's health business has higher consumption frequency, greater consumption potential and deeper consumption binding.</b></p><p>In less than two years since the establishment of Hole Health Business, the business has developed rapidly, and it is expected to become the Blue City Brothers after the live broadcast.<a href=\"https://laohu8.com/S/ABCD\">newly born</a>The core business has truly opened up the closed loop of business from traffic to consumption, and the story of * economy has finally become complete.</p><p>Although compared with traditional heterosexual social platforms such as Momo, the traffic pool of Blue City Brothers business is naturally at a disadvantage. Therefore, Momo only needs to deeply manage the domestic area, which can gain much more than Blue City brothers' hard work to explore overseas markets.</p><p><b>However, with a relatively niche field + absolute market share, Blue City Brothers has gained more sticky users, stronger market barriers and clear business growth.</b></p><p>From obtaining user traffic to binding user consumption, from live broadcast to health service realization, the business story of Blue City Brothers may be \"hard to talk about\", but it also exudes its unique brilliance of \"small but beautiful\".</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/-hDx2-K4AmZSsgjKwzmprg\">BT财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9b04c4a552ab5210706bb7ed078cf967","relate_stocks":{"BLCT":"蓝城兄弟"},"source_url":"https://mp.weixin.qq.com/s/-hDx2-K4AmZSsgjKwzmprg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139578847","content_text":"蓝城兄弟作为亚洲LGBTQ群体的隐秘聚集地，在流量到顶后能否走通流量变现的闭环？\n\n6月中旬，号称“粉红第一股”的蓝城兄弟（Blued）公布了一季度财报，这家专注于LGBTQ垂直社交的企业交上了一份看起来还不错的业绩答卷。\n财报显示，从用户人数来看，蓝城兄弟的整体MAU（月活用户）数量达到了830万人，同比增长37.5%，付费会员数也达到了历史新高64万人，同比增长47.8%。\n据蓝城兄弟表述，其软件在中国、亚洲其他地区（包括印度、韩国、泰国和越南）的LGBTQ社交领域均市场占有率第一，2021年还将在拉丁美洲发力，继续开拓国际市场，未来用户数量持续增加可期。\n不过从业务数据看，2021年一季度，蓝城兄弟实现营业收入2.711亿元，同比增长31%，亏损5210万元，2020年同期为亏损760万元，亏损幅度同比扩大了585%。\n营业收入同比增速看起来还不错，但亏损反而扩大了，增收不增利的蓝城兄弟遭遇了什么？\n用户到顶，增量靠买\n粉红经济第一股蓝城兄弟如今依然只能依赖直播业务撑起一片天，大力培育的健康业务还处于萌芽之中。\n此前受明星代孕事件影响，蓝城兄弟商业闭环中的重要组成部分——“同志”家庭代孕业务也被迫关闭，并且在2021年一季度报告里公开宣布业务终止。\n蓝城的业务开展似乎并没有受到这一黑天鹅事件的影响，业务收入同比增速依然可观，2020年接连收购LESDO、FINKA两大同性社交平台。\n完成收购后的第一个季度，BT财经重新审视蓝城兄弟的数据发现：还好，蓝城业务终于走出了2020年的乏力状态。\n蓝城兄弟一季度的用户增量数据看起来很喜人，但把时间轴拉长，不难发现，数据的增加并没有想象中那么乐观。\n从2019年下半年开始，蓝城兄弟的用户增长就出现停滞，从2019年三季度到2020年一季度的三个季度里，蓝城兄弟的月活用户数持续维持低速增长，环比增速均不超过5%。\n其中，2019年四季度的月活用户几乎未有增加，2020年一季度的用户数量也仅增加2%约13万人，势头萎靡十分明显。\n\n蓝城兄弟可能也意识到：用户开始步入存量危机，必须要动用其他办法了。\n2020年7月成功上市后，蓝城兄弟分别在2020年8月和12月，完成了对女性垂直社交社区LESDO和男性社交软件Finka的收购。\n于是2020年四季度和2021年一季度的月活用户增速一改此前的疲态，大幅增加，2020年四季度月活用户达到760万人，环比增加20.6%，2021年一季度月活用户达830万人，环比增加9.21%。\n蓝城兄弟并没有在年报中披露月活数据在Blued、Finka、Lesdo三个软件之间的比例是什么，因此我们无法得知用户增加有多少来自于基数的叠加、多少来自于内生运营增长。\n据报道，Finka作为男性垂直社交app，注册用户数量超过300万；而LESDO则是女性垂直社交领域的代表，早在2018年就达到了800万的注册量。按照Blued本身大约1/8的月活用户比例来计算，这两个app将贡献约150万的新增月活用户。\n因此近两个季度以来，蓝城兄弟月活用户净增加的200万中，大部分都是来自于收购LESDO、Finka的数据合并，只有不到50万的增量来自于内生增长，平均单季度环比增速依然不足5%。\n著名全球增长咨询公司Frost&Sullivan统计数据显示，LGBTQ人群在整体当中的比例约为6%。如果以此计算，中国的潜在LGBTQ人群数量高达8400万，但排除非适龄人群、非移动网络使用人群和一些“深柜”人群后，愿意使用社交软件的LGBTQ人群数量并没有这么多。\n根据Blued披露的数据，仅Blued注册用户在2020年三季度时就已经达到了5900万，按照其中一半的外国人群计算（月活用户一半为海外人群），中国的注册用户数将近3000万，可以说已经基本实现了人群的覆盖，趋于饱和。\n也就是说在LGBTQ社交领域，用户流量已经出现了天花板，蓝城兄弟想要维持用户规模的快速增长就只能选择横向的扩张：要么与同业竞争者合并、要么向海外市场扩张。\n越来越像陌陌？\n在与LESD、Finka成功整合之后，蓝城兄弟整体的MAU数据确实出现了大幅增长，支撑了未来的想象空间，但是业务收入却出现了与之相反的变化：2020年四季度和2021年一季度的营收虽然与去年同期相比仍有增长，但从环比上看却出现了两连降。相比于2020年三季度2.97亿元的总营收，2020年四季度的营收环比下滑了约6.3%、为2.79亿元，2021年一季度的营收继续下降为2.71亿元。\n即便是从同比增速来看，2020年四季度业务增速仅为24%，2021年一季度营收增速仅为30.7%，不仅低于2020年整体平均增速35.8%、更低于2020年一季度的增速42.7%。\n即便春节等因素会导致一季度收入出现季节性波动，但考虑到2020年一季度疫情影响下基数不大以及蓝城兄弟新并购整合了两家企业情况下，如此的营收表现，着实是低于市场预期的。\n\n同样做陌生人社交，一个是做主流群体的异性社交，一个是做垂直的LGBTQ社交，陌陌和蓝城兄弟有着非常多的共通之处，更有人说，蓝城兄弟就像是两年前的陌陌一样。\n2018年，陌陌收购了探探；2020年，Blued收购了Finka，而探探、Finka都是左滑右滑模式的筛选配对社交软件，成为了陌陌和Blued的重要业务补充。\n从营收业务构成来看，陌陌与Blued也十分相似——主要收入来源都是直播业务。\n尽管2020年陌陌的直播业务收入仅占据总收入的64%左右，但在2018年时，陌陌直播收入的占比也曾高达79.8%。而2020年Blued直播业务占总营收的比例为84%。\n如果从投入产出比上看，蓝城兄弟的效益远不及陌陌。\n陌陌在2015年时年营收也是10亿元左右的规模，不同的是彼时的陌陌就已经开始盈利了，Blued至今仍然处于亏损状态，而且有亏损扩大的趋势。\n\n从费用的投入产出来看，当前蓝城兄弟的销售投入比例低于2015年的陌陌，研发投入比例与2015年的陌陌相当，却并没有像陌陌在2015年时一样，实现盈利，更不用和现在的陌陌的低投入高回报相比了。\n\n简而言之，蓝城兄弟投入的高额资金不仅没有帮助自身实现营收快速增加，也没有帮助自己实现利润由负转正。\n无效烧钱最为可怕。\n由于存量市场天花板问题，蓝城兄弟不得不持续向国际市场进军，每一个国家、每一个区域都需要与之相匹配的软件版本、都需要推广运营来细心耕耘。\n这导致蓝城兄弟的研发开支和销售开支始终维持在较高的水平，但业务收入回报和流量变现效果却并不佳。\n隐秘新业务——“同志”健康\n在蓝城兄弟的收入结构中，直播收入是其中绝对的大头，占据80%以上的份额。\n根据过去一年以来的直播业务收入变化情况来看，直播业务收入与原本Blued用户数量一样，遭遇了天花板瓶颈。\n2020年四季度和2021年一季度直播业务收入都呈现下滑态势，其中四季度业务收入环比下降12%。\n并购带来的用户增量并没有给直播业务带来有益的直接影响。\n\n由于同性社交带有一定的特殊性，其直播业务屡屡被曝出“打擦边球”的事件。\n据媒体报道，Blued的不少直播间都存在违反规则进行直播的现象。“有些主播以‘男团走秀’为主题在日间开通直播，‘T台’上的‘模特们’身上穿着统一的白色内裤。”\n“主播之间的互动过程中，不乏充满暗示意味的聊天内容”。\n这样的直播尺度，在其他直播平台上是绝对的规则红线，基本无法过审。一旦未来面临监管介入后，蓝城兄弟的直播业务收入是否将遭遇业务萎缩的风险不得而知。\n与之相对的是会员付费业务和健康业务发展欣欣向荣。\n\n2021年一季度，付费用户数量大幅提升，环比增加23.55%、同比增长47.8%，直接影响会员服务业务收入同比增长 75.9%，达到2640万元。\n这说明凭借区域的垄断地位和对LGBTQ垂直领域的深耕细作，蓝城兄弟的用户粘性在持续提升。\n一方面，用户粘性是蓝城兄弟未来发展过程中抵御风险的护城河。另一方面，这些付费用户也为健康产品消费业务提供了消费人群基础。\n要实现业务核心的变更，我们不可忽视的是蓝城兄弟快速增长并被寄予厚望的荷尔健康商品销售业务。\n2021年一季度来自荷尔健康的商品销售收入为1140万元，同比增长297.7%。\n此前Blued的电商业务内容也主要局限于男性保健品与性器具，对用户需求的发掘并不深入。\n但2019年后，蓝城兄弟推出了独立健康服务品牌“荷尔健康”，以HIV的检测、阻断、预防和治疗为切入点，深入贴近了男同群体们不可言说的“健康需求”。\n\nHIV最早的传播就是从20世纪80年代的美国男同群体之间开始的。由于特殊的性行为方式，男同一直是HIV感染者的重灾区。在美国和欧洲，男性同性恋和双性恋男性是主要HIV感染群体。\n据中国卫健委透露，在2016年前三个季度识别出的96000例新发病例中，28%为MSM（男性同性恋性接触者），而这一数据在2006年仅为2.5%。\n艾滋对于男同群体的威胁远比普通人更高，因此这一群体对艾滋的防护、检测、阻断需求也更高。\n蓝城兄弟正是抓住了这一个“不可言说”的健康细分领域。把艾滋健康服务作为切入口之后，荷尔健康还拓展了性功能障碍、脱发等其他“难以启齿”的健康服务，凭借其用户群体的准确对接和深入绑定，开拓出了一条独特、小众却无可替代的健康业务之路。\n相比于通过电商售卖保健品与性器具，荷尔健康业务的消费频次更高、消费潜力更大、消费绑定也更加深入。\n荷尔健康业务成立两年不到的时间里，业务发展迅速，有望成为蓝城兄弟继直播之后的新生核心业务，真正打通了从流量到消费的商业闭环，粉红经济的故事脉络终于趋于完整。\n虽然相比于陌陌等传统异性社交平台，蓝城兄弟业务的流量池天然处于劣势。所以陌陌仅需深度经营国内区域，就能比蓝城兄弟辛苦开拓海外市场的收获多得多。\n但凭借相对小众的领域+绝对的市场占有率，蓝城兄弟得到的是更加有粘性的用户、更加坚固的市场壁垒以及路径清晰的业务增长。\n从得到用户流量到绑定用户消费，从直播变现到健康服务变现，蓝城兄弟的商业故事或许“难以启齿”，但也散发着其“小而美”的独特光辉。","news_type":1,"symbols_score_info":{"BLCT":0.9}},"isVote":1,"tweetType":1,"viewCount":4133,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159275438,"gmtCreate":1624972881224,"gmtModify":1703849125234,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159275438","repostId":"1179060783","repostType":4,"isVote":1,"tweetType":1,"viewCount":3192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159272715,"gmtCreate":1624972845137,"gmtModify":1703849124095,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159272715","repostId":"1131894752","repostType":4,"isVote":1,"tweetType":1,"viewCount":3246,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159272865,"gmtCreate":1624972815757,"gmtModify":1703849123444,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159272865","repostId":"1179060783","repostType":4,"isVote":1,"tweetType":1,"viewCount":3551,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159276594,"gmtCreate":1624972798618,"gmtModify":1703849122468,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159276594","repostId":"1164662782","repostType":4,"repost":{"id":"1164662782","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624967212,"share":"https://ttm.financial/m/news/1164662782?lang=en_US&edition=fundamental","pubTime":"2021-06-29 19:46","market":"us","language":"zh","title":"At $23.5/ADS, Dingdong Maicai sets IPO price at the bottom of guidance range","url":"https://stock-news.laohu8.com/highlight/detail?id=1164662782","media":"老虎资讯综合","summary":"叮咚买菜据悉将美股IPO价格定在指导区间的底部23.5美元/ADS。\n相关阅读\n即将上市的叮咚买菜再次更新招股书，其筹资规模大幅缩减至此前额度的四分之一。最新的招股书显示，叮咚买菜首次公开发行370万","content":"<p>Ding dong shopping is reported to set the IPO price of U.S. stocks at the bottom of the guidance range of $23.5/ADS.</p><p><b>Related Reading</b></p><p>Dingdong Maicai, which is about to go public, has updated its prospectus again, and its fundraising scale has been greatly reduced to one-quarter of the previous quota. The latest prospectus shows that Dingdong Maicai made an initial public offering of 3.7 million American Depositary Shares (ADS) at the same price range as before, maintaining between $23.5 and $25.5. According to the upper limit of the issue price range, the amount of funds raised by Ding Dong shopping for groceries is about USD 94 million.</p><p>A week ago, Dingdong Maicai's first updated prospectus showed that it would publicly issue 14 million American depositary shares. At that time, it could raise nearly $360 million according to the upper limit of the offering price range. In contrast, the last announced fundraising scale was reduced to a quarter of the previous quota, that is, the overall reduction was over 70%.</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>At $23.5/ADS, Dingdong Maicai sets IPO price at the bottom of guidance range</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\">\nAt $23.5/ADS, Dingdong Maicai sets IPO price at the bottom of guidance range\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-29 19:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Ding dong shopping is reported to set the IPO price of U.S. stocks at the bottom of the guidance range of $23.5/ADS.</p><p><b>Related Reading</b></p><p>Dingdong Maicai, which is about to go public, has updated its prospectus again, and its fundraising scale has been greatly reduced to one-quarter of the previous quota. The latest prospectus shows that Dingdong Maicai made an initial public offering of 3.7 million American Depositary Shares (ADS) at the same price range as before, maintaining between $23.5 and $25.5. According to the upper limit of the issue price range, the amount of funds raised by Ding Dong shopping for groceries is about USD 94 million.</p><p>A week ago, Dingdong Maicai's first updated prospectus showed that it would publicly issue 14 million American depositary shares. At that time, it could raise nearly $360 million according to the upper limit of the offering price range. In contrast, the last announced fundraising scale was reduced to a quarter of the previous quota, that is, the overall reduction was over 70%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"DDL":"叮咚买菜"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164662782","content_text":"叮咚买菜据悉将美股IPO价格定在指导区间的底部23.5美元/ADS。\n相关阅读\n即将上市的叮咚买菜再次更新招股书，其筹资规模大幅缩减至此前额度的四分之一。最新的招股书显示，叮咚买菜首次公开发行370万股美国存托股票(ADS)，发行价格区间与此前相同，维持在23.5美元至25.5美元之间。按照发行价区间上限计算，叮咚买菜筹资金额大约在9400万美元左右。\n一周前，叮咚买菜首次更新的招股书显示其将公开发行1400万股美国存托股票，彼时按照发行价区间上限计算可筹资达到近3.6亿美元。对比之下，最近一次宣布的募资规模缩减至此前额度的四分之一，即总体缩减幅度超70%。","news_type":1,"symbols_score_info":{"DDL":0.9}},"isVote":1,"tweetType":1,"viewCount":3605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159276331,"gmtCreate":1624972786223,"gmtModify":1703849121653,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159276331","repostId":"2147863759","repostType":4,"repost":{"id":"2147863759","kind":"highlight","pubTimestamp":1624971302,"share":"https://ttm.financial/m/news/2147863759?lang=en_US&edition=fundamental","pubTime":"2021-06-29 20:55","market":"sh","language":"zh","title":"Tesla has sent CATL to the \"C position\"","url":"https://stock-news.laohu8.com/highlight/detail?id=2147863759","media":"华尔街见闻","summary":"宁德时代最近成为新能源界的C位担当，一是因为董事长曾毓群暴涨的身价，二是因为和特斯拉的一纸电池合约。\n6月28日，宁德时代发布公告称，公司已与特斯拉签订协议，将在2022年1月至2025年12月期间，","content":"<p><a href=\"https://laohu8.com/S/300750\">CATL</a>Recently, it has become the C-position in the new energy industry, first because of the skyrocketing value of Chairman Zeng Yuqun, and second because of the<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>A battery contract.</p><p>On June 28, CATL announced that the company had signed an agreement with Tesla to supply lithium-ion power battery products to Tesla from January 2022 to December 2025, that is, the next four years. The specific purchase situation is determined by Tesla by order, and the final sales amount must be subject to the actual settlement of the purchase order issued by Tesla.</p><p>In the future, Tesla's Model 3, Model Y and other models will use battery packs from CATL.</p><p><img src=\"https://static.tigerbbs.com/a713164f29f737032b723520c810364e\" tg-width=\"600\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Affected by this news, on June 29th, the share price of CATL reached a new high. The intraday share price once reached 519.60 yuan/share, and the total market value exceeded 1.2 trillion yuan. As of the close, CATL's share price closed at 508.51 yuan/share, an increase of 2.96%. Become the first technology stock in A-shares to step into the trillion-dollar club.</p><p>It is worth mentioning that since last year, the share price of CATL is like sitting on a rocket, and the total market value has risen from 0.23 trillion yuan to 1.18 trillion yuan, an increase of more than four times.</p><p>June 29,<a href=\"https://laohu8.com/S/601995\">CICC</a>According to the evaluation of this cooperation, the agreement between CATL and Tesla is stronger than the previous cooperation. Considering that the downstream demand of the company exceeds expectations, the profit forecast of CATL is raised and the target price is raised by 9% to 600 yuan. CICC also raised its 2021-2023 earnings forecast for CATL by 10%, 25% and 8% to 11 billion yuan, 20 billion yuan and 26.7 billion yuan, respectively.</p><p><a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>Recently, a research report released said that the buy rating of CATL was maintained, and the target price was 607.5 yuan. The reasons for the rating include: the strategic cooperation agreement with the car company is to bind the battery production capacity, which can solve the bottleneck of battery supply and ensure that the production capacity is not limited.</p><p>In addition, Zeng Tao, an analyst at CICC, pointed out in the report that the agreement did not stipulate the Chinese market, which means that CATL will take the opportunity of cooperating with Tesla's global market supply to accelerate its products to the world. Boosted by global demand, the long-term global market share of CATL is expected to reach more than 30%.</p><p>This is another handshake between the two head enterprises. For CATL, which has already stood at a high market value of trillions, the deep bundling with Tesla, the largest customer, is not only related to the installed battery capacity brought by this customer, but also an important ticket to break through the overseas power battery market.</p><p><h2><b>Secondary</b><b>\"Hand in Hand\"</b></h2>It is reported that in 2018, when Musk signed the landing agreement of Tesla's Shanghai factory, he secretly met Zeng Yuqun, chairman of CATL, but the two sides did not reach a substantive agreement.</p><p>At the \"2019 World Artificial Intelligence Conference\", the two met again and finalized their cooperation intention in more than 40 minutes.</p><p>In February 2020, a contract brought the two leading companies in new cars and power batteries truly together. At that time, CATL signed the Production Pricing Agreement (China) with Tesla, and planned to supply lithium-ion power battery products to Tesla from July 2020 to June 2022.</p><p>According to this contract, CATL will supply batteries for Tesla's Model 3 produced in Shanghai. The scope of cooperation between the two sides is also expected to expand further after Tesla launched the Model Y in early 2021.</p><p>On June 25th this year, on the basis of this Agreement, the two parties signed the above-mentioned cooperation framework Agreement \"Production Pricing Agreement\". The agreement stipulates that CATL plans to supply lithium-ion power battery products to Tesla in the next four years. Some analysts believe that the difference between the two cooperation framework agreements before and after lies in the removal of \"China\", which indicates that this supply agreement will cover the whole world.</p><p>The further deepening of cooperation between the two sides has actually been foreshadowed.</p><p>On June 3, Reuters quoted people familiar with the matter as saying that CATL plans to build a new large power battery factory in Shanghai to supply half of Tesla's batteries used for electric vehicles and rooftop energy storage worldwide.</p><p>The Shanghai plant is rumored to have an annual capacity of 80GWh, compared to CATL's existing capacity of 69.1GWh and 77.5GWh under construction.</p><p>In addition, the \"Oolong Incident\" that occurred in CATL a few days ago is also related to Tesla. Recently, some people claiming to be employees of CATL broke the news that CATL forced manager-level employees to buy Tesla Model 3. Some employees said that the company launched preferential activities to buy Tesla in order to clear Tesla inventory with \"battery problems\".</p><p>CATL said that there were no quality problems and no compulsory purchases. \"Regarding employees' purchase of Tesla, the company encourages employees to purchase electric vehicles at preferential prices in order to promote full electrification. There is no compulsory and is not limited to Tesla, including most of the brands it supplies. It said that this activity has lasted for three years, and last year it was during the National Day.\"</p><p><h2><b>\"Binding\" deepens</b></h2>Regardless of the Oolong incident, the relationship between Tesla and CATL is further bound.</p><p>According to the 2021 Q1 financial report of CATL, the company's sales to the top five customers accounted for 41.08% of the current receivables, and the company's main customers are large domestic and overseas car companies. According to the 2020 annual report, the company's sales gap to the third and fourth largest customers is not big.</p><p><img src=\"https://static.tigerbbs.com/7b1d28e7bc0109ab77f6fbdfcfb26e8f\" tg-width=\"640\" tg-height=\"213\" referrerpolicy=\"no-referrer\"></p><p>According to Century Securities,<b>Calculated according to the installed caliber,</b><b>In 2020, Tesla was the third largest customer in CATL, and by the first quarter of 2021, Tesla jumped into the largest customer.</b><img src=\"https://static.tigerbbs.com/71035fcd7b52b58275f0aaf4030589c9\" tg-width=\"640\" tg-height=\"232\" referrerpolicy=\"no-referrer\"></p><p>The binding between the two sides has deepened, not only because Tesla has jumped into the largest customer. More importantly, Tesla is one of the important tickets for CATL to break through the overseas power battery market.</p><p>Earlier, Jiang Li, deputy general manager and secretary of the board of directors of CATL, once said,<b>The cooperation between CATL and Tesla is not limited to China. The new contract may be the beginning of the power battery cooperation between the two parties going abroad.</b></p><p>Public data shows that CATL is already in the C position in terms of installed capacity of power batteries. In 2020, the valid catalogue of new energy models published by the Ministry of Industry and Information Technology has more than 6,800 models, of which more than 3,400 models are equipped with power batteries in CATL, accounting for the highest proportion among all power battery manufacturers.</p><p>CATL's advantages in the global power battery competition are also further expanding.</p><p>According to the latest data from SNE Research, a South Korean industry Research organization, in the first quarter of 2021, the global battery energy consumption of electric vehicles was 47.8 GWh, up 127% year-on-year, with CATL's substantial growth in the first quarter as the main driving force.</p><p>According to the data, in the first quarter, CATL's battery installed capacity increased by 320.8% year-on-year to 15.1 GWh, and its market share expanded from 25% in 2020 to 31.5% again, while its biggest competitor LG Chem and<a href=\"https://laohu8.com/S/PC\">Panasonic</a>The market share of Panasonic decreased to 20.5% and 16.7% respectively, and the market share of Panasonic decreased by nearly 10 percentage points in one year.</p><p>However, the heights are too cold, and CATL still needs to face many competitors at home and abroad.</p><p>Overseas, there are LG Chem and other enterprises eyeing; At home,<a href=\"https://laohu8.com/S/002594\">BYD</a>Already poses a threat to CATL. In March last year, BYD released a blade battery based on lithium iron phosphate, and gradually opened it from self-use to third-party car companies.</p><p>Therefore, deepening the binding with Tesla at this time may have some benefits for CATL, whether it is the installed capacity of power batteries or further enhancing the competitiveness of domestic and overseas markets.</p><p><h2><b>\"C-Bit\"</b><b>Challenges</b></h2>Although Tesla's battery contract sent CATL to the C position this time, this trillion-dollar company has a very stable position in the new energy field.</p><p>As the world's leading power battery supplier, CATL not only supplies new car representatives such as Tesla, but also cooperates with traditional car companies such as Mercedes-Benz and Honda. Three domestic new car manufacturers also chose the power battery of CATL.</p><p>Han<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>According to the statistics of SNE, an analyst organization, CATL has ranked first in the global power battery installation for four consecutive years. As recently as 2020, the global installed capacity of CATL power batteries was 34GWh, representing a market share of nearly a quarter.</p><p>With the popularity of the new energy sector, this behind-the-scenes giant has gone to the front of the stage since last year and gained capital attention. For example, clearance in 2020<a href=\"https://laohu8.com/S/NIO\">Nio</a>After that, Gaochun Capital turned to CATL and subscribed for a fixed increase of 10 billion yuan.</p><p>CATL, whose share price has soared, has also attracted more investors' attention. On May 21st, CATL also received a survey of 54 people from 33 institutional investors, including large-scale public offering of funds, foreign-funded institutions and asset management of securities firms. The topics that these institutional investors are concerned about are mainly in the development of solid-state batteries, the company's three strategic directions and the layout of photovoltaic field.</p><p>It is not only CATL that is recognized by the outside world, but its chairman Zeng Yuqun has repeatedly been at the forefront of Forbes Rich List.</p><p>As of 11: 30 a.m. on June 28th, the real-time list of Forbes Rich List showed that Zeng Yuqun, chairman of CATL, was worth $44.7 billion (about 288.8 billion yuan), ranking 30th in the world. It was his first time in the top 30 of the list.</p><p>At the beginning of May, Zeng Yuqun successfully became the richest man in Hong Kong. With a net worth of $34.5 billion, he shook the list of the richest people in Hong Kong, which was dominated by the \"Lee family\" for more than 20 years, and his personal wealth once surpassed that of Lee Shau Kee ($32.1 billion) and Li Ka-shing ($34.4 billion).</p><p>At that time, Zeng Yuqun ranked 42nd in the world's richest list, and now he has broken through to the top 30.</p><p>Within one year, CATL has gone out of the circle many times, attracting much attention in the primary and secondary markets. As the first A-share technology company with a trillion market capitalization, how long can CATL stand in the C position?</p>","source":"wallstreetcn_api","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>Tesla has sent CATL to the \"C position\"</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\">\nTesla has sent CATL to the \"C position\"\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-29 20:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/300750\">CATL</a>Recently, it has become the C-position in the new energy industry, first because of the skyrocketing value of Chairman Zeng Yuqun, and second because of the<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>A battery contract.</p><p>On June 28, CATL announced that the company had signed an agreement with Tesla to supply lithium-ion power battery products to Tesla from January 2022 to December 2025, that is, the next four years. The specific purchase situation is determined by Tesla by order, and the final sales amount must be subject to the actual settlement of the purchase order issued by Tesla.</p><p>In the future, Tesla's Model 3, Model Y and other models will use battery packs from CATL.</p><p><img src=\"https://static.tigerbbs.com/a713164f29f737032b723520c810364e\" tg-width=\"600\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Affected by this news, on June 29th, the share price of CATL reached a new high. The intraday share price once reached 519.60 yuan/share, and the total market value exceeded 1.2 trillion yuan. As of the close, CATL's share price closed at 508.51 yuan/share, an increase of 2.96%. Become the first technology stock in A-shares to step into the trillion-dollar club.</p><p>It is worth mentioning that since last year, the share price of CATL is like sitting on a rocket, and the total market value has risen from 0.23 trillion yuan to 1.18 trillion yuan, an increase of more than four times.</p><p>June 29,<a href=\"https://laohu8.com/S/601995\">CICC</a>According to the evaluation of this cooperation, the agreement between CATL and Tesla is stronger than the previous cooperation. Considering that the downstream demand of the company exceeds expectations, the profit forecast of CATL is raised and the target price is raised by 9% to 600 yuan. CICC also raised its 2021-2023 earnings forecast for CATL by 10%, 25% and 8% to 11 billion yuan, 20 billion yuan and 26.7 billion yuan, respectively.</p><p><a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>Recently, a research report released said that the buy rating of CATL was maintained, and the target price was 607.5 yuan. The reasons for the rating include: the strategic cooperation agreement with the car company is to bind the battery production capacity, which can solve the bottleneck of battery supply and ensure that the production capacity is not limited.</p><p>In addition, Zeng Tao, an analyst at CICC, pointed out in the report that the agreement did not stipulate the Chinese market, which means that CATL will take the opportunity of cooperating with Tesla's global market supply to accelerate its products to the world. Boosted by global demand, the long-term global market share of CATL is expected to reach more than 30%.</p><p>This is another handshake between the two head enterprises. For CATL, which has already stood at a high market value of trillions, the deep bundling with Tesla, the largest customer, is not only related to the installed battery capacity brought by this customer, but also an important ticket to break through the overseas power battery market.</p><p><h2><b>Secondary</b><b>\"Hand in Hand\"</b></h2>It is reported that in 2018, when Musk signed the landing agreement of Tesla's Shanghai factory, he secretly met Zeng Yuqun, chairman of CATL, but the two sides did not reach a substantive agreement.</p><p>At the \"2019 World Artificial Intelligence Conference\", the two met again and finalized their cooperation intention in more than 40 minutes.</p><p>In February 2020, a contract brought the two leading companies in new cars and power batteries truly together. At that time, CATL signed the Production Pricing Agreement (China) with Tesla, and planned to supply lithium-ion power battery products to Tesla from July 2020 to June 2022.</p><p>According to this contract, CATL will supply batteries for Tesla's Model 3 produced in Shanghai. The scope of cooperation between the two sides is also expected to expand further after Tesla launched the Model Y in early 2021.</p><p>On June 25th this year, on the basis of this Agreement, the two parties signed the above-mentioned cooperation framework Agreement \"Production Pricing Agreement\". The agreement stipulates that CATL plans to supply lithium-ion power battery products to Tesla in the next four years. Some analysts believe that the difference between the two cooperation framework agreements before and after lies in the removal of \"China\", which indicates that this supply agreement will cover the whole world.</p><p>The further deepening of cooperation between the two sides has actually been foreshadowed.</p><p>On June 3, Reuters quoted people familiar with the matter as saying that CATL plans to build a new large power battery factory in Shanghai to supply half of Tesla's batteries used for electric vehicles and rooftop energy storage worldwide.</p><p>The Shanghai plant is rumored to have an annual capacity of 80GWh, compared to CATL's existing capacity of 69.1GWh and 77.5GWh under construction.</p><p>In addition, the \"Oolong Incident\" that occurred in CATL a few days ago is also related to Tesla. Recently, some people claiming to be employees of CATL broke the news that CATL forced manager-level employees to buy Tesla Model 3. Some employees said that the company launched preferential activities to buy Tesla in order to clear Tesla inventory with \"battery problems\".</p><p>CATL said that there were no quality problems and no compulsory purchases. \"Regarding employees' purchase of Tesla, the company encourages employees to purchase electric vehicles at preferential prices in order to promote full electrification. There is no compulsory and is not limited to Tesla, including most of the brands it supplies. It said that this activity has lasted for three years, and last year it was during the National Day.\"</p><p><h2><b>\"Binding\" deepens</b></h2>Regardless of the Oolong incident, the relationship between Tesla and CATL is further bound.</p><p>According to the 2021 Q1 financial report of CATL, the company's sales to the top five customers accounted for 41.08% of the current receivables, and the company's main customers are large domestic and overseas car companies. According to the 2020 annual report, the company's sales gap to the third and fourth largest customers is not big.</p><p><img src=\"https://static.tigerbbs.com/7b1d28e7bc0109ab77f6fbdfcfb26e8f\" tg-width=\"640\" tg-height=\"213\" referrerpolicy=\"no-referrer\"></p><p>According to Century Securities,<b>Calculated according to the installed caliber,</b><b>In 2020, Tesla was the third largest customer in CATL, and by the first quarter of 2021, Tesla jumped into the largest customer.</b><img src=\"https://static.tigerbbs.com/71035fcd7b52b58275f0aaf4030589c9\" tg-width=\"640\" tg-height=\"232\" referrerpolicy=\"no-referrer\"></p><p>The binding between the two sides has deepened, not only because Tesla has jumped into the largest customer. More importantly, Tesla is one of the important tickets for CATL to break through the overseas power battery market.</p><p>Earlier, Jiang Li, deputy general manager and secretary of the board of directors of CATL, once said,<b>The cooperation between CATL and Tesla is not limited to China. The new contract may be the beginning of the power battery cooperation between the two parties going abroad.</b></p><p>Public data shows that CATL is already in the C position in terms of installed capacity of power batteries. In 2020, the valid catalogue of new energy models published by the Ministry of Industry and Information Technology has more than 6,800 models, of which more than 3,400 models are equipped with power batteries in CATL, accounting for the highest proportion among all power battery manufacturers.</p><p>CATL's advantages in the global power battery competition are also further expanding.</p><p>According to the latest data from SNE Research, a South Korean industry Research organization, in the first quarter of 2021, the global battery energy consumption of electric vehicles was 47.8 GWh, up 127% year-on-year, with CATL's substantial growth in the first quarter as the main driving force.</p><p>According to the data, in the first quarter, CATL's battery installed capacity increased by 320.8% year-on-year to 15.1 GWh, and its market share expanded from 25% in 2020 to 31.5% again, while its biggest competitor LG Chem and<a href=\"https://laohu8.com/S/PC\">Panasonic</a>The market share of Panasonic decreased to 20.5% and 16.7% respectively, and the market share of Panasonic decreased by nearly 10 percentage points in one year.</p><p>However, the heights are too cold, and CATL still needs to face many competitors at home and abroad.</p><p>Overseas, there are LG Chem and other enterprises eyeing; At home,<a href=\"https://laohu8.com/S/002594\">BYD</a>Already poses a threat to CATL. In March last year, BYD released a blade battery based on lithium iron phosphate, and gradually opened it from self-use to third-party car companies.</p><p>Therefore, deepening the binding with Tesla at this time may have some benefits for CATL, whether it is the installed capacity of power batteries or further enhancing the competitiveness of domestic and overseas markets.</p><p><h2><b>\"C-Bit\"</b><b>Challenges</b></h2>Although Tesla's battery contract sent CATL to the C position this time, this trillion-dollar company has a very stable position in the new energy field.</p><p>As the world's leading power battery supplier, CATL not only supplies new car representatives such as Tesla, but also cooperates with traditional car companies such as Mercedes-Benz and Honda. Three domestic new car manufacturers also chose the power battery of CATL.</p><p>Han<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>According to the statistics of SNE, an analyst organization, CATL has ranked first in the global power battery installation for four consecutive years. As recently as 2020, the global installed capacity of CATL power batteries was 34GWh, representing a market share of nearly a quarter.</p><p>With the popularity of the new energy sector, this behind-the-scenes giant has gone to the front of the stage since last year and gained capital attention. For example, clearance in 2020<a href=\"https://laohu8.com/S/NIO\">Nio</a>After that, Gaochun Capital turned to CATL and subscribed for a fixed increase of 10 billion yuan.</p><p>CATL, whose share price has soared, has also attracted more investors' attention. On May 21st, CATL also received a survey of 54 people from 33 institutional investors, including large-scale public offering of funds, foreign-funded institutions and asset management of securities firms. The topics that these institutional investors are concerned about are mainly in the development of solid-state batteries, the company's three strategic directions and the layout of photovoltaic field.</p><p>It is not only CATL that is recognized by the outside world, but its chairman Zeng Yuqun has repeatedly been at the forefront of Forbes Rich List.</p><p>As of 11: 30 a.m. on June 28th, the real-time list of Forbes Rich List showed that Zeng Yuqun, chairman of CATL, was worth $44.7 billion (about 288.8 billion yuan), ranking 30th in the world. It was his first time in the top 30 of the list.</p><p>At the beginning of May, Zeng Yuqun successfully became the richest man in Hong Kong. With a net worth of $34.5 billion, he shook the list of the richest people in Hong Kong, which was dominated by the \"Lee family\" for more than 20 years, and his personal wealth once surpassed that of Lee Shau Kee ($32.1 billion) and Li Ka-shing ($34.4 billion).</p><p>At that time, Zeng Yuqun ranked 42nd in the world's richest list, and now he has broken through to the top 30.</p><p>Within one year, CATL has gone out of the circle many times, attracting much attention in the primary and secondary markets. As the first A-share technology company with a trillion market capitalization, how long can CATL stand in the C position?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3634141\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/983e0432c72ee1117f6c5b8a19ed6e25","relate_stocks":{"300750":"宁德时代","TSLA":"特斯拉"},"source_url":"https://wallstreetcn.com/articles/3634141","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147863759","content_text":"宁德时代最近成为新能源界的C位担当，一是因为董事长曾毓群暴涨的身价，二是因为和特斯拉的一纸电池合约。\n6月28日，宁德时代发布公告称，公司已与特斯拉签订协议，将在2022年1月至2025年12月期间，也就是未来四年，向特斯拉供应锂离子动力电池产品。具体的采购情况特斯拉以订单方式确定，最终销售金额须以特斯拉发出的采购订单实际结算为准。\n未来，特斯拉旗下的Model 3、Model Y等车型将会使用来自宁德时代的电池组。\n\n受此消息影响，6月29日，宁德时代股价再创新高，盘中股价一度达到519.60元/股，总市值突破1.2万亿元。截至收盘，宁德时代股价报收508.51元/股，涨幅达2.96%。成为A股中第一家跨进万亿俱乐部的科技股。\n值得一提的是，自去年以来，宁德时代的股价如同坐上火箭，总市值由0.23万亿元上涨至1.18万亿元，涨幅超过4倍。\n6月29日，中金公司对此合作评价称，宁德时代此次与特斯拉的协议较之前合作力度更大，考虑到公司下游需求超预期，上调宁德时代的盈利预测，并将目标价调升9%至600元人民币。中金还上调了宁德时代2021-2023年的盈利预测10%、25%和8%，分别至110亿元、200亿元和267亿元。\n东吴证券近日发布研报称，维持宁德时代买入评级，目标价格为607.5元。其评级理由就包括：与车企的战略合作协议系绑定电池产能，能解决电池供应瓶颈，确保产能不受限。\n另外，中金分析师曾韬等在报告中指出，此次协议未约定中国市场，意味着宁德时代将以配合特斯拉全球市场供应为契机，推动产品加速走向全球。全球需求提振下，宁德时代远期全球市场份额有望达到30%以上。\n这是两家头部企业的再次握手。对于已经站上万亿市值高位的宁德时代而言，与第一大客户特斯拉的深度捆绑，不仅关乎该客户带来的电池装机量，更是一张突围海外动力电池市场的重要门票。\n二次“牵手”\n据悉，2018年，马斯克在签署特斯拉上海工厂落地协议时，曾秘密会见宁德时代董事长曾毓群，不过双方未达成实质性协议。\n在“2019世界人工智能大会”上，二人再度会面，用40多分钟敲定了合作意向。\n2020年2月，一份合约让新造车和动力电池的两家头部企业真正走到一起。彼时，宁德时代与特斯拉签订《Production Pricing Agreement (China)》，拟于2020年7月至2022年6月期间向特斯拉供应锂离子动力电池产品。\n据此合约，宁德时代为特斯拉在上海生产的Model 3供应电池。2021年初，特斯拉推出Model Y后，双方的合作范围也有望进一步扩大。\n今年6月25日，在该协议的基础上，双方又签订了上文提及的合作框架协议《Production Pricing Agreement》。协议约定宁德时代计划在未来四年向特斯拉供应锂离子动力电池产品。有分析认为，前后两份合作框架协议的区别在于去掉了“China”，预示着本次供货协议将覆盖全球。\n双方的合作进一步深入，其实早就有预示。\n6月3日，路透社援引知情人士消息称，宁德时代计划在上海新建一家大型动力电池厂，提供特斯拉在全球范围内一半用于电动汽车和屋顶储能的电池。\n有传言称，上海工厂年产能将达到80GWh，而宁德时代现有产能为69.1GWh，并有77.5GWh产能在建中。\n另外，宁德时代日前发生的“乌龙事件”也与特斯拉有关。近日，有自称是宁德时代员工的人员爆料，宁德时代强制经理级别员工购买特斯拉Model 3，有员工称公司推出购买特斯拉的优惠活动，是为了清掉“电池有问题”的特斯拉库存。\n宁德时代则表示，没有质量问题，也没有强制购买。“关于员工购买特斯拉是公司为推行全面电动化，以优惠价格鼓励员工购买电动车，没有强制，也不限于特斯拉，包括其大部分供货的品牌。称此活动已持续三年，去年是在国庆节期间。”\n“绑定”加深\n不论乌龙事件如何，特斯拉和宁德时代的关系都在进一步绑定。\n宁德时代2021年Q1财报显示，公司面向前五大客户的销售金额占当期应收比例为41.08%，公司主要客户为大型境内外车企。2020年年报显示，公司面对第三和第四大客户的销售额差距不大。\n\n而据世纪证券，按装机口径计算， 2020年特斯拉为宁德时代第三大客户，而到2021年第一季度，特斯拉一跃成为最大客户 。\n双方的绑定加深，不仅在于特斯拉跃升为最大客户。更关键的是特斯拉是宁德时代突围海外动力电池市场的重要门票之一。\n此前，宁德时代副总经理、董事会秘书蒋理曾表示，宁德时代与特斯拉的合作不局限于国内。新合约或许就是双方的动力电池合作走出国门的开始。\n公开数据表明，宁德时代在动力电池装机量上已经处于C位。2020年工信部公布的新能源车型有效目录共有6800多款车型，其中宁德时代配套动力电池的有3400多款，在全部动力电池厂商中占比最高。\n宁德时代在全球动力电池竞争中的优势也在进一步扩大。\n据韩国行业调研机构SNE Research最新数据，2021年第一季度，全球电动车电池能耗为47.8 GWh，同比增长127%，宁德时代一季度的大幅增长为主要推动力。\n数据显示，第一季度，宁德时代电池装机量同比增长320.8%至15.1 GWh，市占率从2020年全年的25%再度扩大至31.5%，而其最大竞争对手LG化学以及松下的市占率则分别下降至20.5%和16.7%，松下市占率一年内下降近10个百分点。\n但高处不胜寒，宁德时代仍然需要面对海内外不少竞争对手。\n在海外，有LG化学等企业虎视眈眈；在国内，比亚迪已经对宁德时代构成了威胁。去年3月，比亚迪发布了基于磷酸铁锂材料的刀片电池，并逐渐从自用开放给第三方车企。\n因而，此时与特斯拉加深绑定，对宁德时代而言，无论是对动力电池装机量，还是进一步提升海内外市场竞争力，或许都存在一些好处。\n“C位”挑战\n虽然本次是特斯拉的电池合约将宁德时代送上C位，但这家万亿市值的公司，在新能源领域的地位已经十分稳固。\n作为全球头部动力电池供应商，宁德时代不仅为特斯拉等新造车代表供货，还与奔驰、本田等传统车企合作。国内新造车三家企业也选择了宁德时代的动力电池。\n韩国新能源分析机构SNE统计称，宁德时代已连续四年在全球动力电池装车量排名中居于首位。就在2020年，宁德时代动力电池的全球装车量为34GWh，市场份额接近四分之一。\n随着新能源板块的火爆，这家幕后巨头从去年开始走向台前，获得资本关注。例如，在2020年清仓蔚来后，高瓴资本就转而重仓宁德时代，认购了100亿元的定增。\n股价飙升的宁德时代，也受到更多投资者的关注。5月21日，宁德时代还接待了33家机构投资者共54人的调研，其中包括大型公募基金、外资机构以及券商资管等。这些机构投资者们关心的话题，主要在固态电池发展、公司三大战略方向以及光伏领域的布局等方面。\n被外界认知的不止有宁德时代，其董事长曾毓群也屡次跻身福布斯富豪榜的前列。\n截至6月28日上午11点半，福布斯富豪榜的实时榜单显示，宁德时代董事长曾毓群身价达到447亿美元（约合2888亿元人民币），位列全球第30位。这是他首次进入榜单前30名。\n而就在5月初，曾毓群成功问鼎香港首富。他以345亿美元的身价，动摇了被“李氏家族”霸榜20余年的香港首富榜，个人财富一度超过李兆基（321亿美元）和李嘉诚（344亿美元）。\n彼时，曾毓群在全球富豪榜上的排名升至全球第42名，而今他已经突围进前30名。\n一年之内，宁德时代多次出圈，在一、二级市场备受关注。作为A股第一家万亿市值的科技公司，宁德时代在C位上又能矗立多久？","news_type":1,"symbols_score_info":{"300750":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3112,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159278430,"gmtCreate":1624972770820,"gmtModify":1703849121165,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159278430","repostId":"1162626672","repostType":4,"repost":{"id":"1162626672","kind":"news","pubTimestamp":1624950782,"share":"https://ttm.financial/m/news/1162626672?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:13","market":"us","language":"zh","title":"Buffett's 8 valuable lessons and lessons from the pandemic","url":"https://stock-news.laohu8.com/highlight/detail?id=1162626672","media":"智通财经 ","summary":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教","content":"<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Although Buffett has donated billions to charity, his net worth crossed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01 New investment? Utilizing the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments — one that emerged as a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have been recommending it to people for a long time,\" Buffett said, adding that 90 percent of the money he leaves to his wife will go to the S&P 500 after his death.</p><p>S&P 500 index funds are mutual funds or ETFs that mimic the familiar stock indices that track the 500 largest companies in the United States. Despite the pandemic, the S&P 500 surged 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings for Berkshire, they should buy the S&P 500,\" Buffett told a shareholder meeting in Los Angeles.</p><p>02 Be Practical-Even When the Market Is Losing Its Mind</p><p>Buffett recommends a long-term and practical approach for investors, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in' 89 were from the 2021 edition. The lesson is: Things are impermanent, and picking winners is not easy.</p><p>\"If you only own diversified stocks, like U.S. stocks, that would be my preference, but hold them for more than 30 years,\" he said.</p><p>03 Don't expect a pension</p><p>One of the more worrying trends Buffett delved into at the Berkshire Hathaway conference is the growing precariousness of many state pension funds, an issue he said he's been watching since 2013.</p><p>\"The pension situation in a lot of states is terrible,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed state finances and will only exacerbate the pension problem for which there is currently no long-term solution. Before the pandemic began, state pension plans already lacked $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04 Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis devastated the entire aviation industry, yet airlines survived with the help of the government. But without that support, you'd see a whole new plane crash. The industry still has months to go before normal business (and normal profit margins) can return.</p><p>\"I still don't want to buy an airline,\" Buffett told his Berkshire shareholders.</p><p>Shares of Delta Air Lines (DAL), one of the airlines Berkshire sold off from its portfolio, fell by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett has little confidence in the economic fundamentals of the aviation industry.</p><p>05 Stick to your long-term plans</p><p>Stick to your financial goals, Buffett says. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the United States, but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways\".</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. He was even reminded at the Berkshire conference that he once said it was \"too short\" to hold a stock forever.</p><p>06 Making the most of low interest rates</p><p>With interest rates falling, Buffett says it's a good time to borrow money.</p><p>With the Federal Reserve pledging to keep its key interest rate near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low interest rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"Through the actions of the Fed, it was brought back to life in a very effective way.\"</p><p>07 Avoiding Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a good survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's 2020 online shareholder meeting, he recalled the advice he gave to a friend who got a windfall and was considering the smartest way to spend. She told Buffett that she still had credit card debt — at 18% interest.</p><p>Buffett remembers telling her, \"If I had 18% debt, the first thing I would do with the money on hand is pay it off.\"\"You can't borrow money at this rate for the rest of your life and be better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett says a \"catastrophe\" is coming. It's not for nothing to call Buffett an \"oracle\". In 2019, he warned of a \"megacatastrophe\" ahead of the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the U.S., Buffett said in an interview, \"I always felt that a pandemic was going to happen sooner or later.\"</p><p>You would think that someone who has invested so much in the insurance industry would have the foresight — Berkshire owns Geico and several other insurers — that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happening in the world over the last 15 months,\" he told his investors this year. \"And we're always aware that weirder things are going to happen in the future.\"</p>","source":"stock_zhitongcaijing","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>Buffett's 8 valuable lessons and lessons from the pandemic</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\">\nBuffett's 8 valuable lessons and lessons from the pandemic\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经 </strong><span class=\"h-time small\">2021-06-29 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Although Buffett has donated billions to charity, his net worth crossed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01 New investment? Utilizing the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments — one that emerged as a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have been recommending it to people for a long time,\" Buffett said, adding that 90 percent of the money he leaves to his wife will go to the S&P 500 after his death.</p><p>S&P 500 index funds are mutual funds or ETFs that mimic the familiar stock indices that track the 500 largest companies in the United States. Despite the pandemic, the S&P 500 surged 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings for Berkshire, they should buy the S&P 500,\" Buffett told a shareholder meeting in Los Angeles.</p><p>02 Be Practical-Even When the Market Is Losing Its Mind</p><p>Buffett recommends a long-term and practical approach for investors, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in' 89 were from the 2021 edition. The lesson is: Things are impermanent, and picking winners is not easy.</p><p>\"If you only own diversified stocks, like U.S. stocks, that would be my preference, but hold them for more than 30 years,\" he said.</p><p>03 Don't expect a pension</p><p>One of the more worrying trends Buffett delved into at the Berkshire Hathaway conference is the growing precariousness of many state pension funds, an issue he said he's been watching since 2013.</p><p>\"The pension situation in a lot of states is terrible,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed state finances and will only exacerbate the pension problem for which there is currently no long-term solution. Before the pandemic began, state pension plans already lacked $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04 Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis devastated the entire aviation industry, yet airlines survived with the help of the government. But without that support, you'd see a whole new plane crash. The industry still has months to go before normal business (and normal profit margins) can return.</p><p>\"I still don't want to buy an airline,\" Buffett told his Berkshire shareholders.</p><p>Shares of Delta Air Lines (DAL), one of the airlines Berkshire sold off from its portfolio, fell by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett has little confidence in the economic fundamentals of the aviation industry.</p><p>05 Stick to your long-term plans</p><p>Stick to your financial goals, Buffett says. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the United States, but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways\".</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. He was even reminded at the Berkshire conference that he once said it was \"too short\" to hold a stock forever.</p><p>06 Making the most of low interest rates</p><p>With interest rates falling, Buffett says it's a good time to borrow money.</p><p>With the Federal Reserve pledging to keep its key interest rate near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low interest rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"Through the actions of the Fed, it was brought back to life in a very effective way.\"</p><p>07 Avoiding Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a good survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's 2020 online shareholder meeting, he recalled the advice he gave to a friend who got a windfall and was considering the smartest way to spend. She told Buffett that she still had credit card debt — at 18% interest.</p><p>Buffett remembers telling her, \"If I had 18% debt, the first thing I would do with the money on hand is pay it off.\"\"You can't borrow money at this rate for the rest of your life and be better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett says a \"catastrophe\" is coming. It's not for nothing to call Buffett an \"oracle\". In 2019, he warned of a \"megacatastrophe\" ahead of the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the U.S., Buffett said in an interview, \"I always felt that a pandemic was going to happen sooner or later.\"</p><p>You would think that someone who has invested so much in the insurance industry would have the foresight — Berkshire owns Geico and several other insurers — that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happening in the world over the last 15 months,\" he told his investors this year. \"And we're always aware that weirder things are going to happen in the future.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/503261.html\">智通财经 </a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.A":"伯克希尔"},"source_url":"https://www.zhitongcaijing.com/content/detail/503261.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162626672","content_text":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教训。\n01  新投资吗?利用标普500\n在上个月伯克希尔哈撒韦公司的年会上，巴菲特谈到了他最喜欢的一项投资——该投资在疫情期间成为赢家。\n巴菲特说:“我推荐标普500指数基金，并且长期以来一直向人们推荐。”他还说，在他去世后，他留给妻子的90%的钱将进入标普500基金。\n标普500指数基金是模仿人们熟悉的跟踪美国500家最大公司的股票指数的共同基金或ETF。尽管疫情爆发，标普500指数在2020年飙升16%，并在2021年创下新高。\n巴菲特在洛杉矶的股东大会上表示:“我喜欢伯克希尔，但我认为一个对股票一无所知，对伯克希尔没有任何特殊感觉的人，他们应该购买标普500指数。”\n02  要实际——即使在市场失去理智的时候\n巴菲特建议投资者长期且实际的方法，而不是“每天进行30或40笔交易。”\n在会议期间，巴菲特展示了两张幻灯片，展示了当今和1989年全球市值最大的20家公司。89年上榜的公司没有一家是2021年版的。教训是:世事无常，挑选赢家并不容易。\n\"如果你只持有多元化的股票，比如美国股票，那将是我的偏好，但要持有超过30年，\"他说。\n03  不要指望养老金\n巴菲特在伯克希尔哈撒韦公司的会议上深入研究的一个更令人担忧的趋势，许多州养老基金的地位越来越不稳定，他说他从2013年就开始关注这个问题。\n巴菲特说:“很多州的养老金状况都很糟糕。”“情况并没有好转。显然，情况一点也没有好转。”\n疫情已经扼杀了各州的财政，只会加剧目前没有长期解决方案的养老金问题。Pew Charitable Trusts的数据显示，在大流行开始之前，国家养老金计划已经缺乏1万亿美元的资金来满足未来对退休人员的义务。\n04  投资者应该对某些投资保持警惕\n巴菲特因为COVID-19的原因抛售了航空股。\n疫情危机摧毁了整个航空行业，然而航空公司在政府的帮助下幸存下来。但如果没有这种支持，你会看到一场全新的空难。要想恢复正常的业务(以及正常的利润率)，该行业还有好几个月的时间。\n“我还是不想买航空公司，”巴菲特告诉他的伯克希尔股东。\n达美航空(DAL)是伯克希尔从其投资组合中抛售的航空公司之一，该公司股价在去年3月1日至5月15日期间下跌了一半以上。此后，该股和美国其他主要航空公司的股价都有所回升，但巴菲特对航空业的经济基本面没有多大信心。\n05  坚持你的长期计划\n巴菲特说，要坚持你的财务目标。巴菲特仍然相信，美国经济将从COVID - 19危机中反弹，但他告诉股东，未来远非确定。\n“你可以押注美国，但你必须小心如何押注，”他说。他后来重申，世界可以以“非常、非常戏剧性的方式”发生变化。\n巴菲特从来没有动摇过他的信念，长期持有股票是一个稳定的财务未来的正确投资策略。在伯克希尔的会议上，他甚至被提醒说，他曾经说过永远持有一只股票“太短了”。\n06  充分利用低利率\n随着利率的下降，巴菲特说现在是借钱的好时机。\n由于美联储承诺将关键利率维持在接近零的水平，巴菲特认为2021年借款人将有极好的机会。\n“这是一个迷人的时代，”巴菲特告诉投资者，并补充说低利率环境“非常令人愉快”。\n“经济在2020年3月跌落悬崖，”巴菲特说。“通过美联储的行动，它以一种非常有效的方式复活了。”\n07  避免信用卡债务\n巴菲特说，如果你有信用卡债务，那就摆脱它。\n疫情导致企业关闭和裁员，迫使数百万美国人依靠信用卡来满足基本的金融需求。这是一个很好的生存策略，但由此产生的平衡和高利率会造成长期的财务压力。\n在伯克希尔2020年的在线股东大会上，他回忆了自己给一位获得意外之财的朋友的建议，这位朋友当时正在考虑最明智的消费方式。她告诉巴菲特，她还有信用卡债务——利息为18%。\n巴菲特记得对她说:“如果我有18%的债务，我会用手头的钱做的第一件事就是还清。”“你不可能一辈子都以这样的利率借钱，然后过得更好。”\n08  总是做最坏打算\n巴菲特说，一场“大灾难”即将来临。称巴菲特为“神谕”不是没有原因的。2019年，他警告说，世界将迎来一场“特大灾难”，这将使卡特里娜飓风和迈克尔飓风造成的混乱相形见绌。\n当疫情首次袭击美国时，巴菲特在一次采访中说，“我一直觉得一场大流行迟早会发生。”\n你可能会认为，在保险业投入如此之多的人会有这样的远见——伯克希尔哈撒韦拥有Geico和其他几家保险公司——为最坏的情况做准备是商业模式的核心部分。\n“过去15个月里，我们看到世界上发生了一些奇怪的事情，”他今年告诉他的投资者。“而且我们总是意识到未来会发生更奇怪的事情。”","news_type":1,"symbols_score_info":{"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":3661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159270215,"gmtCreate":1624972578837,"gmtModify":1703849115443,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159270215","repostId":"1162626672","repostType":4,"repost":{"id":"1162626672","kind":"news","pubTimestamp":1624950782,"share":"https://ttm.financial/m/news/1162626672?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:13","market":"us","language":"zh","title":"Buffett's 8 valuable lessons and lessons from the pandemic","url":"https://stock-news.laohu8.com/highlight/detail?id=1162626672","media":"智通财经 ","summary":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教","content":"<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Although Buffett has donated billions to charity, his net worth crossed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01 New investment? Utilizing the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments — one that emerged as a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have been recommending it to people for a long time,\" Buffett said, adding that 90 percent of the money he leaves to his wife will go to the S&P 500 after his death.</p><p>S&P 500 index funds are mutual funds or ETFs that mimic the familiar stock indices that track the 500 largest companies in the United States. Despite the pandemic, the S&P 500 surged 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings for Berkshire, they should buy the S&P 500,\" Buffett told a shareholder meeting in Los Angeles.</p><p>02 Be Practical-Even When the Market Is Losing Its Mind</p><p>Buffett recommends a long-term and practical approach for investors, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in' 89 were from the 2021 edition. The lesson is: Things are impermanent, and picking winners is not easy.</p><p>\"If you only own diversified stocks, like U.S. stocks, that would be my preference, but hold them for more than 30 years,\" he said.</p><p>03 Don't expect a pension</p><p>One of the more worrying trends Buffett delved into at the Berkshire Hathaway conference is the growing precariousness of many state pension funds, an issue he said he's been watching since 2013.</p><p>\"The pension situation in a lot of states is terrible,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed state finances and will only exacerbate the pension problem for which there is currently no long-term solution. Before the pandemic began, state pension plans already lacked $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04 Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis devastated the entire aviation industry, yet airlines survived with the help of the government. But without that support, you'd see a whole new plane crash. The industry still has months to go before normal business (and normal profit margins) can return.</p><p>\"I still don't want to buy an airline,\" Buffett told his Berkshire shareholders.</p><p>Shares of Delta Air Lines (DAL), one of the airlines Berkshire sold off from its portfolio, fell by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett has little confidence in the economic fundamentals of the aviation industry.</p><p>05 Stick to your long-term plans</p><p>Stick to your financial goals, Buffett says. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the United States, but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways\".</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. He was even reminded at the Berkshire conference that he once said it was \"too short\" to hold a stock forever.</p><p>06 Making the most of low interest rates</p><p>With interest rates falling, Buffett says it's a good time to borrow money.</p><p>With the Federal Reserve pledging to keep its key interest rate near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low interest rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"Through the actions of the Fed, it was brought back to life in a very effective way.\"</p><p>07 Avoiding Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a good survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's 2020 online shareholder meeting, he recalled the advice he gave to a friend who got a windfall and was considering the smartest way to spend. She told Buffett that she still had credit card debt — at 18% interest.</p><p>Buffett remembers telling her, \"If I had 18% debt, the first thing I would do with the money on hand is pay it off.\"\"You can't borrow money at this rate for the rest of your life and be better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett says a \"catastrophe\" is coming. It's not for nothing to call Buffett an \"oracle\". In 2019, he warned of a \"megacatastrophe\" ahead of the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the U.S., Buffett said in an interview, \"I always felt that a pandemic was going to happen sooner or later.\"</p><p>You would think that someone who has invested so much in the insurance industry would have the foresight — Berkshire owns Geico and several other insurers — that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happening in the world over the last 15 months,\" he told his investors this year. \"And we're always aware that weirder things are going to happen in the future.\"</p>","source":"stock_zhitongcaijing","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>Buffett's 8 valuable lessons and lessons from the pandemic</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\">\nBuffett's 8 valuable lessons and lessons from the pandemic\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经 </strong><span class=\"h-time small\">2021-06-29 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Although Buffett has donated billions to charity, his net worth crossed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01 New investment? Utilizing the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments — one that emerged as a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have been recommending it to people for a long time,\" Buffett said, adding that 90 percent of the money he leaves to his wife will go to the S&P 500 after his death.</p><p>S&P 500 index funds are mutual funds or ETFs that mimic the familiar stock indices that track the 500 largest companies in the United States. Despite the pandemic, the S&P 500 surged 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings for Berkshire, they should buy the S&P 500,\" Buffett told a shareholder meeting in Los Angeles.</p><p>02 Be Practical-Even When the Market Is Losing Its Mind</p><p>Buffett recommends a long-term and practical approach for investors, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in' 89 were from the 2021 edition. The lesson is: Things are impermanent, and picking winners is not easy.</p><p>\"If you only own diversified stocks, like U.S. stocks, that would be my preference, but hold them for more than 30 years,\" he said.</p><p>03 Don't expect a pension</p><p>One of the more worrying trends Buffett delved into at the Berkshire Hathaway conference is the growing precariousness of many state pension funds, an issue he said he's been watching since 2013.</p><p>\"The pension situation in a lot of states is terrible,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed state finances and will only exacerbate the pension problem for which there is currently no long-term solution. Before the pandemic began, state pension plans already lacked $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04 Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis devastated the entire aviation industry, yet airlines survived with the help of the government. But without that support, you'd see a whole new plane crash. The industry still has months to go before normal business (and normal profit margins) can return.</p><p>\"I still don't want to buy an airline,\" Buffett told his Berkshire shareholders.</p><p>Shares of Delta Air Lines (DAL), one of the airlines Berkshire sold off from its portfolio, fell by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett has little confidence in the economic fundamentals of the aviation industry.</p><p>05 Stick to your long-term plans</p><p>Stick to your financial goals, Buffett says. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the United States, but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways\".</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. He was even reminded at the Berkshire conference that he once said it was \"too short\" to hold a stock forever.</p><p>06 Making the most of low interest rates</p><p>With interest rates falling, Buffett says it's a good time to borrow money.</p><p>With the Federal Reserve pledging to keep its key interest rate near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low interest rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"Through the actions of the Fed, it was brought back to life in a very effective way.\"</p><p>07 Avoiding Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a good survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's 2020 online shareholder meeting, he recalled the advice he gave to a friend who got a windfall and was considering the smartest way to spend. She told Buffett that she still had credit card debt — at 18% interest.</p><p>Buffett remembers telling her, \"If I had 18% debt, the first thing I would do with the money on hand is pay it off.\"\"You can't borrow money at this rate for the rest of your life and be better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett says a \"catastrophe\" is coming. It's not for nothing to call Buffett an \"oracle\". In 2019, he warned of a \"megacatastrophe\" ahead of the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the U.S., Buffett said in an interview, \"I always felt that a pandemic was going to happen sooner or later.\"</p><p>You would think that someone who has invested so much in the insurance industry would have the foresight — Berkshire owns Geico and several other insurers — that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happening in the world over the last 15 months,\" he told his investors this year. \"And we're always aware that weirder things are going to happen in the future.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/503261.html\">智通财经 </a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.A":"伯克希尔"},"source_url":"https://www.zhitongcaijing.com/content/detail/503261.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162626672","content_text":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教训。\n01  新投资吗?利用标普500\n在上个月伯克希尔哈撒韦公司的年会上，巴菲特谈到了他最喜欢的一项投资——该投资在疫情期间成为赢家。\n巴菲特说:“我推荐标普500指数基金，并且长期以来一直向人们推荐。”他还说，在他去世后，他留给妻子的90%的钱将进入标普500基金。\n标普500指数基金是模仿人们熟悉的跟踪美国500家最大公司的股票指数的共同基金或ETF。尽管疫情爆发，标普500指数在2020年飙升16%，并在2021年创下新高。\n巴菲特在洛杉矶的股东大会上表示:“我喜欢伯克希尔，但我认为一个对股票一无所知，对伯克希尔没有任何特殊感觉的人，他们应该购买标普500指数。”\n02  要实际——即使在市场失去理智的时候\n巴菲特建议投资者长期且实际的方法，而不是“每天进行30或40笔交易。”\n在会议期间，巴菲特展示了两张幻灯片，展示了当今和1989年全球市值最大的20家公司。89年上榜的公司没有一家是2021年版的。教训是:世事无常，挑选赢家并不容易。\n\"如果你只持有多元化的股票，比如美国股票，那将是我的偏好，但要持有超过30年，\"他说。\n03  不要指望养老金\n巴菲特在伯克希尔哈撒韦公司的会议上深入研究的一个更令人担忧的趋势，许多州养老基金的地位越来越不稳定，他说他从2013年就开始关注这个问题。\n巴菲特说:“很多州的养老金状况都很糟糕。”“情况并没有好转。显然，情况一点也没有好转。”\n疫情已经扼杀了各州的财政，只会加剧目前没有长期解决方案的养老金问题。Pew Charitable Trusts的数据显示，在大流行开始之前，国家养老金计划已经缺乏1万亿美元的资金来满足未来对退休人员的义务。\n04  投资者应该对某些投资保持警惕\n巴菲特因为COVID-19的原因抛售了航空股。\n疫情危机摧毁了整个航空行业，然而航空公司在政府的帮助下幸存下来。但如果没有这种支持，你会看到一场全新的空难。要想恢复正常的业务(以及正常的利润率)，该行业还有好几个月的时间。\n“我还是不想买航空公司，”巴菲特告诉他的伯克希尔股东。\n达美航空(DAL)是伯克希尔从其投资组合中抛售的航空公司之一，该公司股价在去年3月1日至5月15日期间下跌了一半以上。此后，该股和美国其他主要航空公司的股价都有所回升，但巴菲特对航空业的经济基本面没有多大信心。\n05  坚持你的长期计划\n巴菲特说，要坚持你的财务目标。巴菲特仍然相信，美国经济将从COVID - 19危机中反弹，但他告诉股东，未来远非确定。\n“你可以押注美国，但你必须小心如何押注，”他说。他后来重申，世界可以以“非常、非常戏剧性的方式”发生变化。\n巴菲特从来没有动摇过他的信念，长期持有股票是一个稳定的财务未来的正确投资策略。在伯克希尔的会议上，他甚至被提醒说，他曾经说过永远持有一只股票“太短了”。\n06  充分利用低利率\n随着利率的下降，巴菲特说现在是借钱的好时机。\n由于美联储承诺将关键利率维持在接近零的水平，巴菲特认为2021年借款人将有极好的机会。\n“这是一个迷人的时代，”巴菲特告诉投资者，并补充说低利率环境“非常令人愉快”。\n“经济在2020年3月跌落悬崖，”巴菲特说。“通过美联储的行动，它以一种非常有效的方式复活了。”\n07  避免信用卡债务\n巴菲特说，如果你有信用卡债务，那就摆脱它。\n疫情导致企业关闭和裁员，迫使数百万美国人依靠信用卡来满足基本的金融需求。这是一个很好的生存策略，但由此产生的平衡和高利率会造成长期的财务压力。\n在伯克希尔2020年的在线股东大会上，他回忆了自己给一位获得意外之财的朋友的建议，这位朋友当时正在考虑最明智的消费方式。她告诉巴菲特，她还有信用卡债务——利息为18%。\n巴菲特记得对她说:“如果我有18%的债务，我会用手头的钱做的第一件事就是还清。”“你不可能一辈子都以这样的利率借钱，然后过得更好。”\n08  总是做最坏打算\n巴菲特说，一场“大灾难”即将来临。称巴菲特为“神谕”不是没有原因的。2019年，他警告说，世界将迎来一场“特大灾难”，这将使卡特里娜飓风和迈克尔飓风造成的混乱相形见绌。\n当疫情首次袭击美国时，巴菲特在一次采访中说，“我一直觉得一场大流行迟早会发生。”\n你可能会认为，在保险业投入如此之多的人会有这样的远见——伯克希尔哈撒韦拥有Geico和其他几家保险公司——为最坏的情况做准备是商业模式的核心部分。\n“过去15个月里，我们看到世界上发生了一些奇怪的事情，”他今年告诉他的投资者。“而且我们总是意识到未来会发生更奇怪的事情。”","news_type":1,"symbols_score_info":{"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":1098,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150928799,"gmtCreate":1624883694111,"gmtModify":1703846941946,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150928799","repostId":"1197538485","repostType":4,"isVote":1,"tweetType":1,"viewCount":1378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150928350,"gmtCreate":1624883674570,"gmtModify":1703846940978,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150928350","repostId":"1173690181","repostType":4,"repost":{"id":"1173690181","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624855957,"share":"https://ttm.financial/m/news/1173690181?lang=en_US&edition=fundamental","pubTime":"2021-06-28 12:52","market":"us","language":"zh","title":"Morgan Stanley warns: Any strong US economic data will hit the market","url":"https://stock-news.laohu8.com/highlight/detail?id=1173690181","media":"华尔街见闻","summary":"摩根士丹利认为，市场对于平均通胀目标框架的信心已经出现下降，更强劲的经济数据可能会加剧美联储的鹰派倾向，美联储缩减购债规模的步伐和预计的加息步伐是市场面临的最大风险。\n“五年来最重要”的政策会议过后，","content":"<p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It is believed that the market's confidence in the average inflation target framework has declined, and stronger economic data may aggravate the hawkish tendency of the Federal Reserve. The pace of the Federal Reserve's reduction of bond purchases and the expected pace of rate hike are the biggest risks faced by the market.</p><p>After the \"most important policy meeting in five years\", although the Fed did not mention tapering QE, it released a signal that more than one rate hike is more likely two years later, that is, in 2023.</p><p>Morgan Stanley saw that although the sharp selling tide in the broad risk market has been reversed after the meeting, the uncertainty released by the meeting has not changed, and any real or expected policy change of the Federal Reserve in the future may aggravate the market uncertainty.</p><p>In such an environment, Morgan Stanley believes,<b>The impact of upcoming U.S. jobs and inflation data on markets will be amplified, and stronger economic data may exacerbate the hawkish tendency of the Federal Reserve. It's time for markets to buckle up.</b></p><p>I still remember that last August, the Federal Reserve announced its major adjustment to its monetary policy framework at the annual meeting of global central banks:</p><p>First of all, the Fed will no longer preemptively rate hike based on low unemployment data, and the progress of real inflation will become the main measure of eliminating easing policy; Secondly, the Federal Reserve formally adopted the flexible average inflation target framework (FAIT), which aims to achieve the average inflation target of 2% over time, that is, after a certain period of low inflation, it will allow higher inflation in the next certain period of time. However, in Morgan Stanley's view, as the U.S. economy rebounds in the post-epidemic era, the hawkish differences shown by the Federal Reserve meeting are actually surprising, and the market's confidence in FAIT has also declined:</p><p>First, contrary to the Fed's own emphasis on real inflation> inflation expectations, although recent data have been worse than expected and broad job market indicators have not progressed well,<b>The Fed remains optimistic about the prospects for a recovery in the job market.</b>The 9.1 percent unemployment rate for African Americans, for example, is still much higher than the 5.8 percent unemployment rate for the United States as a whole. Secondly,<b>In recent months, Federal Reserve Chairman Powell has been binding inflation to \"temporarity\", but now he has finally acknowledged the upside risks.</b>This focus on inflation expectations (rather than real inflation) and the labor market culminates in a dot graph showing that \"interest rates will go higher in 2022 and 2023\", which leads us to conclude:<b>It was a decidedly hawkish meeting.</b>Morgan Stanley also found that, based on the Fed's dot plot, policymakers expect the Fed to rate hike another 3-4 times in the year following its first rate hike; However, the current market expectation is that in the 12 months after the first rate hike, the Fed will only rate hike about twice.</p><p>According to Morgan Stanley,<b>The pace of the Fed's tapering of bond purchases and the projected pace of rate hike are the biggest risks to the market.</b>In addition, reducing the category composition of bond purchases, the interval between advance notice and the start of reduction, etc. are also additional risks worthy of vigilance.</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>Morgan Stanley warns: Any strong US economic data will hit the market</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\">\nMorgan Stanley warns: Any strong US economic data will hit the market\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-28 12:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It is believed that the market's confidence in the average inflation target framework has declined, and stronger economic data may aggravate the hawkish tendency of the Federal Reserve. The pace of the Federal Reserve's reduction of bond purchases and the expected pace of rate hike are the biggest risks faced by the market.</p><p>After the \"most important policy meeting in five years\", although the Fed did not mention tapering QE, it released a signal that more than one rate hike is more likely two years later, that is, in 2023.</p><p>Morgan Stanley saw that although the sharp selling tide in the broad risk market has been reversed after the meeting, the uncertainty released by the meeting has not changed, and any real or expected policy change of the Federal Reserve in the future may aggravate the market uncertainty.</p><p>In such an environment, Morgan Stanley believes,<b>The impact of upcoming U.S. jobs and inflation data on markets will be amplified, and stronger economic data may exacerbate the hawkish tendency of the Federal Reserve. It's time for markets to buckle up.</b></p><p>I still remember that last August, the Federal Reserve announced its major adjustment to its monetary policy framework at the annual meeting of global central banks:</p><p>First of all, the Fed will no longer preemptively rate hike based on low unemployment data, and the progress of real inflation will become the main measure of eliminating easing policy; Secondly, the Federal Reserve formally adopted the flexible average inflation target framework (FAIT), which aims to achieve the average inflation target of 2% over time, that is, after a certain period of low inflation, it will allow higher inflation in the next certain period of time. However, in Morgan Stanley's view, as the U.S. economy rebounds in the post-epidemic era, the hawkish differences shown by the Federal Reserve meeting are actually surprising, and the market's confidence in FAIT has also declined:</p><p>First, contrary to the Fed's own emphasis on real inflation> inflation expectations, although recent data have been worse than expected and broad job market indicators have not progressed well,<b>The Fed remains optimistic about the prospects for a recovery in the job market.</b>The 9.1 percent unemployment rate for African Americans, for example, is still much higher than the 5.8 percent unemployment rate for the United States as a whole. Secondly,<b>In recent months, Federal Reserve Chairman Powell has been binding inflation to \"temporarity\", but now he has finally acknowledged the upside risks.</b>This focus on inflation expectations (rather than real inflation) and the labor market culminates in a dot graph showing that \"interest rates will go higher in 2022 and 2023\", which leads us to conclude:<b>It was a decidedly hawkish meeting.</b>Morgan Stanley also found that, based on the Fed's dot plot, policymakers expect the Fed to rate hike another 3-4 times in the year following its first rate hike; However, the current market expectation is that in the 12 months after the first rate hike, the Fed will only rate hike about twice.</p><p>According to Morgan Stanley,<b>The pace of the Fed's tapering of bond purchases and the projected pace of rate hike are the biggest risks to the market.</b>In addition, reducing the category composition of bond purchases, the interval between advance notice and the start of reduction, etc. are also additional risks worthy of vigilance.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a82005fdd5a20870413111b3adc1a547","relate_stocks":{"MS":"摩根士丹利"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173690181","content_text":"摩根士丹利认为，市场对于平均通胀目标框架的信心已经出现下降，更强劲的经济数据可能会加剧美联储的鹰派倾向，美联储缩减购债规模的步伐和预计的加息步伐是市场面临的最大风险。\n“五年来最重要”的政策会议过后，美联储虽未提及缩减QE，但释放了两年后、即2023年较有可能加息不止一次的信号。\n摩根士丹利看到，尽管在会议结束之后，广泛风险市场的急剧抛售潮已经出现逆转，但会议所释放出的不确定性并未有所转圜，美联储未来任何真正的、或是被市场料中的政策转变都有可能加剧市场不确定性。\n在这样的环境下，摩根士丹利认为，即将出炉的美国就业和通胀数据对市场的影响将被放大，更强劲的经济数据可能会加剧美联储的鹰派倾向，市场该系好安全带了。\n犹记得去年8月，美联储在全球央行年会上宣布了其对货币政策框架的重大调整：\n\n 首先，美联储不会再基于低失业率数据而先发制人地加息，实际通胀的进展将成为取消宽松政策的主要尺度；\n\n\n 其次，美联储正式采用了灵活的平均通胀目标框架（FAIT），旨在随着时间推移能实现平均2%的通胀目标，也就是在经历一定时间的低通胀之后，允许接下来一定时间内出现更高的通胀。\n\n但在摩根士丹利看来，随着美国经济在后疫情时代反弹，美联储会议显示出的鹰派分歧其实令人意外，市场对于FAIT的信心也已经出现下降：\n\n 首先，与美联储自己强调的实际通胀>通胀预期相反，尽管近期数据均逊于预期，跟广泛的就业市场指标进展不佳，\n 美联储仍对就业市场复苏的前景表示乐观。\n\n\n 比方说，非裔美国人9.1%的失业率仍远高于美国整体5.8%的失业率。\n\n\n 其次，\n 近几个月，美联储主席鲍威尔一直将通胀跟“暂时性”绑定，但他如今终于承认了上行风险。\n\n\n 这种对通胀预期（而非实际通胀）和劳动力市场的关注，最终形成了显示“利率会在2022年和2023年走得更高”的点状图，这就导致我们得出结论：\n 这是一次明显的鹰派会议。\n\n摩根士丹利还发现，根据美联储点阵图，政策制定者预计， 在首次加息后的一年里，美联储还将加息3-4次；但市场目前的预期则是，在首次加息后的12个月内，美联储只会加息2次左右。\n摩根士丹利认为，美联储缩减购债规模的步伐和预计的加息步伐是市场面临的最大风险。此外，缩减购债的类别构成、提前通知到开始缩减之间的间隔时间等等，也都是值得警惕的额外风险。","news_type":1,"symbols_score_info":{"MS":0.9}},"isVote":1,"tweetType":1,"viewCount":1243,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150921276,"gmtCreate":1624883644395,"gmtModify":1703846939849,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150921276","repostId":"1187248021","repostType":4,"isVote":1,"tweetType":1,"viewCount":1167,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150921392,"gmtCreate":1624883630116,"gmtModify":1703846939362,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150921392","repostId":"1114156338","repostType":4,"isVote":1,"tweetType":1,"viewCount":971,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150923185,"gmtCreate":1624883595247,"gmtModify":1703846937737,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150923185","repostId":"1102698423","repostType":4,"isVote":1,"tweetType":1,"viewCount":1320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150929453,"gmtCreate":1624883580872,"gmtModify":1703846936927,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150929453","repostId":"2146881398","repostType":4,"isVote":1,"tweetType":1,"viewCount":1141,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150965024,"gmtCreate":1624883333568,"gmtModify":1703846929803,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150965024","repostId":"1185593408","repostType":4,"repost":{"id":"1185593408","kind":"news","pubTimestamp":1624881542,"share":"https://ttm.financial/m/news/1185593408?lang=en_US&edition=fundamental","pubTime":"2021-06-28 19:59","market":"us","language":"zh","title":"Under the wave of digital intelligence, how should the second-hand car e-commerce with \"chicken feathers in one place\" break the situation?","url":"https://stock-news.laohu8.com/highlight/detail?id=1185593408","media":"港股研究社","summary":"互联网的兴起，震撼着各行各业。\n仅有底色的衣食住行各领域，在互联网的调色盘之下开始变得绚丽多彩，阿里、京东、美团、携程等行业巨头相继诞生。\n而在大领域被资本蚕食之后，其细分领域自然变成了玩家们新的游戏","content":"<p>The rise of the Internet has shocked all walks of life.</p><p>All fields of food, clothing, housing and transportation with only background color began to become colorful under the color palette of the Internet. Ali,<a href=\"https://laohu8.com/S/JD\">Jingdong</a>Meituan, Ctrip and other industry giants were born one after another.</p><p>After the large field was cannibalized by capital, its subdivision naturally became a new game place for players, and the second-hand car e-commerce transaction was under such branches and leaves, which became an existence that could not be ignored.</p><p>In March this year,<a href=\"https://laohu8.com/S/ATHM\">Autohome</a>Successfully registered in Hong Kong stocks; Recently, the second-hand car trading service platform \"Che Xiaoduo\" won a round of financing of US$6 million.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Li Xingxing, son of Capital and Geely Li Shufu, led the investment. It can be seen that the second-hand car e-commerce market is favored by capital, and the business on the table has aroused a lot of capital splashes.</p><p><img src=\"https://static.tigerbbs.com/c94fb1303fbbf5af5002065cdc611e66\" tg-width=\"688\" tg-height=\"491\" referrerpolicy=\"no-referrer\"></p><p>With a market size of trillions, how will second-hand car e-commerce tell this business? In the market melee, how will the mid-tail platform compete for a place?</p><p><b>\"Idle Economy\" in Power</b></p><p><b>Business experience of used car e-commerce</b></p><p>From new to old, second-hand is a topic that can't be crossed, and once it has evolved into a serious business.</p><p>The past 618 belongs to the carnival of e-commerce, and it is also a second-hand 3C trading platform<a href=\"https://laohu8.com/S/RERE\">Love recycling</a>Big day to go public. On the evening of June 18th, Love Recovery officially landed on Wall Street. The closing share price rose by 22.93% on that day, with a total market value of 3.793 billion USD. Love Recovery, which was supported by JD.COM, seemed to push the second-hand business to another climax.</p><p>And now that the idle economy is vigorous, second-hand e-commerce is becoming a new blue ocean. According to iiMedia Consulting data, in 2019, the transaction scale of China's second-hand e-commerce industry was 259.69 billion yuan, an increase of 53.2% over the previous year. In 2020, the transaction scale reached 374.55 billion yuan.</p><p>With the rapid expansion of the market, the contestants are constantly rising. Except for the head players such as idle fish, turning and loving recycling, the track is constantly emerging from the back wave players such as recycling treasure, music changing machine and flash recycling, and together they quickly stir up the capital. Before the Spring Festival this year, it was transferred to $390 million in financing, which is also the largest single cash financing in the second-hand e-commerce field in China.</p><p>The weather vane of capital is often the fiery guide of the market, all of which show that the second-hand business is a good business. Under this background, the second-hand market subdivision of second-hand car transactions is naturally a rare and good way.</p><p>According to the latest statistics from the Ministry of Public Security, by the end of 2020, the number of cars in China has reached 281 million. Compared with the United States, which has the largest car ownership in the world, the gap has also narrowed to 6 million units. It is expected to surpass the United States to become the world's largest country in car ownership for the first time this June. Such a large volume also means that the domestic used car market will usher in new opportunities simultaneously and become a rare good cake.</p><p>Under the consumption feast, there is actually a deeper meaning hidden. According to iiMedia Consulting, 43.7% of Chinese netizens frequently used second-hand e-commerce platforms in 2021. Behind this is the promotion of national purchasing power and the change of consumption concept, which gives birth to the growth of second-hand market. Under the upgrade of consumption, a large number of idle items need such a platform to digest, so that resources can continue to exert their residual value.<img src=\"https://static.tigerbbs.com/064249fb6d5db714ab689004199758e5\" tg-width=\"900\" tg-height=\"822\" referrerpolicy=\"no-referrer\"></p><p>In addition, the second-hand e-commerce platform, with the blessing of a number of celebrities, such as Sun Li, Wei Ya and Wu Xin, has also rapidly increased the market popularity of second-hand transactions.</p><p>However, riding the new wave of second-hand economy, the second-hand car trading platform has a bright development prospect under the right time, place and people. However, instead of entering such a dividend track, players of all sizes can have a smooth life?</p><p><b>Trillion Market Size</b></p><p><b>The Matthew effect is obvious</b></p><p>In recent years, the scale of the used car trading market has been expanding. According to the data of Foresight Industry Research Institute, the market scale has reached 935.686 billion yuan in 2019. Despite the impact of the epidemic in 2020, it only dropped by 5% year-on-year to 888.837 billion yuan. In the first quarter of 2021, the scale was about 247.577 billion yuan. With this growth rate, the market will reach a trillion yuan.</p><p><img src=\"https://static.tigerbbs.com/d6b716135839c4f1a2ac05d064e05b4f\" tg-width=\"840\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>Under the huge market space, it obviously gives a huge imagination space for second-hand car e-commerce. In addition, the continuous COVID-19 epidemic has caused a shortage of new car chips, which directly causes challenges to the supply side of new cars, which also causes the price of second-hand car assets around the world to soar.</p><p>From a foreign perspective, the performance of CarMax, a traditional giant of used car retailing in the United States, has continued to reach new highs, with sales reaching 1.18 million units in 2020. Today's upstart Carvana, a leader in the industry, sold 300,000 units last year, and its share price rose tenfold in 2020, with a market value of about 50 billion US dollars.</p><p>Domestically, in June this year, Guazi second-hand parent company Che Haoduo completed a financing of 300 million US dollars, followed by the used car platform<a href=\"https://laohu8.com/S/UXIN\">Uxin</a>Signed a $315 million financing agreement. The remittance of two huge amounts of funds reveals that the second-hand car e-commerce track is a good capital road and is sought after by capital.</p><p>However, with the progress of the market, Renrenche and Youxin used cars, which were once popular on the screen, quickly came out of the circle under the endorsement of stars such as Sun Honglei, Huang Bo and Wang Baoqiang. However, now they are facing negative dilemmas such as being acquired, salary cuts and layoffs, and the volume of the industry is gradually decreasing.</p><p>On the other hand, according to the disclosed prospectus, Autohome, which returned to Hong Kong for the second listing this year, had revenues of 7.233 billion yuan, 8.42 billion yuan and 8.659 billion yuan in 2018, 2019 and 2020 respectively, and annual net profits of 2.864 billion yuan, 3.2 billion yuan and 3.4 billion yuan. Behind the phenomenon, in fact, it is the epitome of the Matthew effect in the industry.</p><p>In the development of an industry, with the acceleration of the market process, some enterprises will gradually fall behind, and some enterprises will make a breakthrough. This is the general law of developing the survival chain. Even under the market scale of trillions, only a few can eat cake.</p><p>However, the development continues, and the business model is constantly changing. The intervention of emerging development technologies is another opportunity for players in it. Whether it can be changed in the end is also a question to continue to think about in the follow-up survival war.</p><p><b>Accelerating digital intelligence,</b></p><p><b>Can the mid-tail platform break the existing dilemma?</b></p><p>Looking at today's second-hand car e-commerce market, the head players are like a fish in the water, but the middle and tail players are not satisfactory. In addition to the suppression of the head players, they will also face the food sharing of outsiders.</p><p>This year, BMW held the \"BMW Official Certified Used Car Festival\"; Audi and Lexus have successively opened official certified used car campaigns; Lincoln launched the first Chinese independent certified used car showroom in Beijing and announced the listing of used car business in China. In addition to traditional car companies, new energy vehicles have also begun to covet second-hand business. At the beginning of the year, NIO launched NIO Certified, an official second-hand car business.</p><p>Competitive trends are increasing, challenges are becoming increasingly difficult, and industry problems such as information leakage,<a href=\"https://laohu8.com/S/BITA\">Easy Car</a>As early as 2020, it was named by the Ministry of Industry and Information Technology for illegally collecting user information. Information asymmetry, many trading links, inadequate after-sales service, etc. will all become obstacles to subsequent development.</p><p>With the superposition of multiple problems, the tail platform of second-hand car e-commerce needs to find a breakthrough if it wants to gain a certain status in the rivers and lakes. With the acceleration of the wave of digital intelligence, it may be a good time for players of second-hand car e-commerce.</p><p>According to Carvana, a used car e-commerce company with strong performance in the US stock market, its share price rose by more than 130% last year, and its market value has been more than twice that of the industry giant Carmax, but its trading volume is less than one-third. Similarly, there are used car auction company KAR and Internet auction platform ACV. The latter's transaction volume is only 10% of the former, but its market value surpasses the former.</p><p><img src=\"https://static.tigerbbs.com/cf4dff8bd151e7d8895815ca54b0b020\" tg-width=\"640\" tg-height=\"421\" referrerpolicy=\"no-referrer\"></p><p>Among them, data-driven has contributed a lot. Under the data-driven business model, data helps car dealers to improve vehicle replacement rate and disposal rate, reduce hard transaction costs, and greatly improve efficiency, which will also be the fulcrum of the upgrading of the whole industry chain.</p><p>The success of foreign enterprises is not occasional. With the acceleration of the digital intelligence process of big data and AI empowerment, whoever seizes the opportunity to change quickly first will have the advantage of getting out of the circle, which also provides a direction for the tail players in domestic second-hand car e-commerce.</p><p>On the one hand, throwing aside the past thinking of people looking for cars and advertising burning money, the current logic is to find people by car, use data operation and circulation efficiency to improve, quickly gain insight into consumers' needs and quickly meet the supply.</p><p>On the other hand, with the empowerment of big data and AI, it forecasts hot-selling models in different regions, realizes vehicle data sharing and cross-regional circulation with the deep participation of head dealers, and makes used garages in different regions transparent.</p><p>In addition, nowadays, short videos and live broadcasts are in full swing, which is also an important way for players to rebuild their trust system and de-stigmatize. Only by subverting traditional thinking and driven by the two-wheel drive of data and artificial intelligence can middle-tail players break through the bottleneck and achieve a breakthrough in the existing pattern.</p><p>However, looking back at the current second-hand car e-commerce industry, it has a strong offline transaction attribute, is a business that is extremely dependent on offline, and at the same time requires huge advertising investment. Under this model, the industry is prone to fall into the vicious circle of \"continuous burning money-difficult to make profits-continuous financing\", which also makes it still challenging for middle and tail players to subvert the pattern.</p><p>Generally speaking, second-hand car e-commerce is now in the blue ocean. Under the huge imagination of the market, players are also flocking in. However, under the Matthew effect, it is not easy for middle and tail enterprises to get out of the circle. With the acceleration of digital intelligence, it may be a good path to take advantage of it, but whether it is the optimal solution has to be explained by consumers.</p>","source":"lsy1567602064246","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>Under the wave of digital intelligence, how should the second-hand car e-commerce with \"chicken feathers in one place\" break the situation?</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\">\nUnder the wave of digital intelligence, how should the second-hand car e-commerce with \"chicken feathers in one place\" break the situation?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">港股研究社</strong><span class=\"h-time small\">2021-06-28 19:59</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The rise of the Internet has shocked all walks of life.</p><p>All fields of food, clothing, housing and transportation with only background color began to become colorful under the color palette of the Internet. Ali,<a href=\"https://laohu8.com/S/JD\">Jingdong</a>Meituan, Ctrip and other industry giants were born one after another.</p><p>After the large field was cannibalized by capital, its subdivision naturally became a new game place for players, and the second-hand car e-commerce transaction was under such branches and leaves, which became an existence that could not be ignored.</p><p>In March this year,<a href=\"https://laohu8.com/S/ATHM\">Autohome</a>Successfully registered in Hong Kong stocks; Recently, the second-hand car trading service platform \"Che Xiaoduo\" won a round of financing of US$6 million.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Li Xingxing, son of Capital and Geely Li Shufu, led the investment. It can be seen that the second-hand car e-commerce market is favored by capital, and the business on the table has aroused a lot of capital splashes.</p><p><img src=\"https://static.tigerbbs.com/c94fb1303fbbf5af5002065cdc611e66\" tg-width=\"688\" tg-height=\"491\" referrerpolicy=\"no-referrer\"></p><p>With a market size of trillions, how will second-hand car e-commerce tell this business? In the market melee, how will the mid-tail platform compete for a place?</p><p><b>\"Idle Economy\" in Power</b></p><p><b>Business experience of used car e-commerce</b></p><p>From new to old, second-hand is a topic that can't be crossed, and once it has evolved into a serious business.</p><p>The past 618 belongs to the carnival of e-commerce, and it is also a second-hand 3C trading platform<a href=\"https://laohu8.com/S/RERE\">Love recycling</a>Big day to go public. On the evening of June 18th, Love Recovery officially landed on Wall Street. The closing share price rose by 22.93% on that day, with a total market value of 3.793 billion USD. Love Recovery, which was supported by JD.COM, seemed to push the second-hand business to another climax.</p><p>And now that the idle economy is vigorous, second-hand e-commerce is becoming a new blue ocean. According to iiMedia Consulting data, in 2019, the transaction scale of China's second-hand e-commerce industry was 259.69 billion yuan, an increase of 53.2% over the previous year. In 2020, the transaction scale reached 374.55 billion yuan.</p><p>With the rapid expansion of the market, the contestants are constantly rising. Except for the head players such as idle fish, turning and loving recycling, the track is constantly emerging from the back wave players such as recycling treasure, music changing machine and flash recycling, and together they quickly stir up the capital. Before the Spring Festival this year, it was transferred to $390 million in financing, which is also the largest single cash financing in the second-hand e-commerce field in China.</p><p>The weather vane of capital is often the fiery guide of the market, all of which show that the second-hand business is a good business. Under this background, the second-hand market subdivision of second-hand car transactions is naturally a rare and good way.</p><p>According to the latest statistics from the Ministry of Public Security, by the end of 2020, the number of cars in China has reached 281 million. Compared with the United States, which has the largest car ownership in the world, the gap has also narrowed to 6 million units. It is expected to surpass the United States to become the world's largest country in car ownership for the first time this June. Such a large volume also means that the domestic used car market will usher in new opportunities simultaneously and become a rare good cake.</p><p>Under the consumption feast, there is actually a deeper meaning hidden. According to iiMedia Consulting, 43.7% of Chinese netizens frequently used second-hand e-commerce platforms in 2021. Behind this is the promotion of national purchasing power and the change of consumption concept, which gives birth to the growth of second-hand market. Under the upgrade of consumption, a large number of idle items need such a platform to digest, so that resources can continue to exert their residual value.<img src=\"https://static.tigerbbs.com/064249fb6d5db714ab689004199758e5\" tg-width=\"900\" tg-height=\"822\" referrerpolicy=\"no-referrer\"></p><p>In addition, the second-hand e-commerce platform, with the blessing of a number of celebrities, such as Sun Li, Wei Ya and Wu Xin, has also rapidly increased the market popularity of second-hand transactions.</p><p>However, riding the new wave of second-hand economy, the second-hand car trading platform has a bright development prospect under the right time, place and people. However, instead of entering such a dividend track, players of all sizes can have a smooth life?</p><p><b>Trillion Market Size</b></p><p><b>The Matthew effect is obvious</b></p><p>In recent years, the scale of the used car trading market has been expanding. According to the data of Foresight Industry Research Institute, the market scale has reached 935.686 billion yuan in 2019. Despite the impact of the epidemic in 2020, it only dropped by 5% year-on-year to 888.837 billion yuan. In the first quarter of 2021, the scale was about 247.577 billion yuan. With this growth rate, the market will reach a trillion yuan.</p><p><img src=\"https://static.tigerbbs.com/d6b716135839c4f1a2ac05d064e05b4f\" tg-width=\"840\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>Under the huge market space, it obviously gives a huge imagination space for second-hand car e-commerce. In addition, the continuous COVID-19 epidemic has caused a shortage of new car chips, which directly causes challenges to the supply side of new cars, which also causes the price of second-hand car assets around the world to soar.</p><p>From a foreign perspective, the performance of CarMax, a traditional giant of used car retailing in the United States, has continued to reach new highs, with sales reaching 1.18 million units in 2020. Today's upstart Carvana, a leader in the industry, sold 300,000 units last year, and its share price rose tenfold in 2020, with a market value of about 50 billion US dollars.</p><p>Domestically, in June this year, Guazi second-hand parent company Che Haoduo completed a financing of 300 million US dollars, followed by the used car platform<a href=\"https://laohu8.com/S/UXIN\">Uxin</a>Signed a $315 million financing agreement. The remittance of two huge amounts of funds reveals that the second-hand car e-commerce track is a good capital road and is sought after by capital.</p><p>However, with the progress of the market, Renrenche and Youxin used cars, which were once popular on the screen, quickly came out of the circle under the endorsement of stars such as Sun Honglei, Huang Bo and Wang Baoqiang. However, now they are facing negative dilemmas such as being acquired, salary cuts and layoffs, and the volume of the industry is gradually decreasing.</p><p>On the other hand, according to the disclosed prospectus, Autohome, which returned to Hong Kong for the second listing this year, had revenues of 7.233 billion yuan, 8.42 billion yuan and 8.659 billion yuan in 2018, 2019 and 2020 respectively, and annual net profits of 2.864 billion yuan, 3.2 billion yuan and 3.4 billion yuan. Behind the phenomenon, in fact, it is the epitome of the Matthew effect in the industry.</p><p>In the development of an industry, with the acceleration of the market process, some enterprises will gradually fall behind, and some enterprises will make a breakthrough. This is the general law of developing the survival chain. Even under the market scale of trillions, only a few can eat cake.</p><p>However, the development continues, and the business model is constantly changing. The intervention of emerging development technologies is another opportunity for players in it. Whether it can be changed in the end is also a question to continue to think about in the follow-up survival war.</p><p><b>Accelerating digital intelligence,</b></p><p><b>Can the mid-tail platform break the existing dilemma?</b></p><p>Looking at today's second-hand car e-commerce market, the head players are like a fish in the water, but the middle and tail players are not satisfactory. In addition to the suppression of the head players, they will also face the food sharing of outsiders.</p><p>This year, BMW held the \"BMW Official Certified Used Car Festival\"; Audi and Lexus have successively opened official certified used car campaigns; Lincoln launched the first Chinese independent certified used car showroom in Beijing and announced the listing of used car business in China. In addition to traditional car companies, new energy vehicles have also begun to covet second-hand business. At the beginning of the year, NIO launched NIO Certified, an official second-hand car business.</p><p>Competitive trends are increasing, challenges are becoming increasingly difficult, and industry problems such as information leakage,<a href=\"https://laohu8.com/S/BITA\">Easy Car</a>As early as 2020, it was named by the Ministry of Industry and Information Technology for illegally collecting user information. Information asymmetry, many trading links, inadequate after-sales service, etc. will all become obstacles to subsequent development.</p><p>With the superposition of multiple problems, the tail platform of second-hand car e-commerce needs to find a breakthrough if it wants to gain a certain status in the rivers and lakes. With the acceleration of the wave of digital intelligence, it may be a good time for players of second-hand car e-commerce.</p><p>According to Carvana, a used car e-commerce company with strong performance in the US stock market, its share price rose by more than 130% last year, and its market value has been more than twice that of the industry giant Carmax, but its trading volume is less than one-third. Similarly, there are used car auction company KAR and Internet auction platform ACV. The latter's transaction volume is only 10% of the former, but its market value surpasses the former.</p><p><img src=\"https://static.tigerbbs.com/cf4dff8bd151e7d8895815ca54b0b020\" tg-width=\"640\" tg-height=\"421\" referrerpolicy=\"no-referrer\"></p><p>Among them, data-driven has contributed a lot. Under the data-driven business model, data helps car dealers to improve vehicle replacement rate and disposal rate, reduce hard transaction costs, and greatly improve efficiency, which will also be the fulcrum of the upgrading of the whole industry chain.</p><p>The success of foreign enterprises is not occasional. With the acceleration of the digital intelligence process of big data and AI empowerment, whoever seizes the opportunity to change quickly first will have the advantage of getting out of the circle, which also provides a direction for the tail players in domestic second-hand car e-commerce.</p><p>On the one hand, throwing aside the past thinking of people looking for cars and advertising burning money, the current logic is to find people by car, use data operation and circulation efficiency to improve, quickly gain insight into consumers' needs and quickly meet the supply.</p><p>On the other hand, with the empowerment of big data and AI, it forecasts hot-selling models in different regions, realizes vehicle data sharing and cross-regional circulation with the deep participation of head dealers, and makes used garages in different regions transparent.</p><p>In addition, nowadays, short videos and live broadcasts are in full swing, which is also an important way for players to rebuild their trust system and de-stigmatize. Only by subverting traditional thinking and driven by the two-wheel drive of data and artificial intelligence can middle-tail players break through the bottleneck and achieve a breakthrough in the existing pattern.</p><p>However, looking back at the current second-hand car e-commerce industry, it has a strong offline transaction attribute, is a business that is extremely dependent on offline, and at the same time requires huge advertising investment. Under this model, the industry is prone to fall into the vicious circle of \"continuous burning money-difficult to make profits-continuous financing\", which also makes it still challenging for middle and tail players to subvert the pattern.</p><p>Generally speaking, second-hand car e-commerce is now in the blue ocean. Under the huge imagination of the market, players are also flocking in. However, under the Matthew effect, it is not easy for middle and tail enterprises to get out of the circle. With the acceleration of digital intelligence, it may be a good path to take advantage of it, but whether it is the optimal solution has to be explained by consumers.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/pFV5FJHqsClqD9buLPfx7Q\">港股研究社</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c94fb1303fbbf5af5002065cdc611e66","relate_stocks":{"UXIN":"优信"},"source_url":"https://mp.weixin.qq.com/s/pFV5FJHqsClqD9buLPfx7Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185593408","content_text":"互联网的兴起，震撼着各行各业。\n仅有底色的衣食住行各领域，在互联网的调色盘之下开始变得绚丽多彩，阿里、京东、美团、携程等行业巨头相继诞生。\n而在大领域被资本蚕食之后，其细分领域自然变成了玩家们新的游戏场所，二手车电商交易就处在这样的枝叶之下，成为了不容忽视的存在。\n今年3月，汽车之家成功登录港股；近日，二手车交易服务平台“车小多”获A轮600万美元融资，蔚来资本及吉利李书福之子李星星领投。可见，二手车电商市场正备受资本青睐，摆上台面的生意已激起不少资本水花。\n\n在数万亿市场规模下，二手车电商又将如何讲述这门生意？市场混战中，中尾部平台又将如何争的一席之地？\n“闲置经济”当道\n二手车电商的生意经\n从新到旧，二手俨然是跨不过的话题，一经演变就成了一门正经生意。\n刚过去的618属电商的狂欢节，也是二手3C交易平台爱回收上市的大日子。6月18日晚，爱回收正式登录华尔街，当日收盘股价涨22.93%，总市值达37.93亿美元，获京东力挺的爱回收俨然将二手生意推向了另一个高潮。\n且如今闲置经济旺盛，二手电商正成为新的蓝海。根据艾媒咨询数据显示，2019年我国二手电商行业交易规模为2596.9亿元，较上年同比增53.2%，2020年交易规模达3745.5亿元。\n在市场急速扩展之下，参赛选手不断崛起，除闲鱼、转转、爱回收等头部玩家，赛道不断涌现回收宝、乐换机、闪回收等后浪玩家，一起飞速搅热资本。今年春节前，转转获3.9亿美元融资，这也是目前国内二手电商领域最大单笔现金融资。\n资本的风向标往往是市场火热的导向，无一不表明着二手生意是门好生意，此背景下，二手市场细分类二手车交易自然也是不可多得的好门路。\n据公安部最新统计数据显示，截止2020年底，我国汽车保有量已达2.81亿辆。跟全球汽车保有量第一的美国相比，差距也已缩小至600万辆。预估今年6月将会首次超越美国，成全球汽车保有量第一的国家。如此大的体量之下，也意味着国内二手车市场将同步迎来新的机遇，成为难得的好蛋糕。\n而在消费盛宴之下，其实也隐藏着更深层次的意义。根据艾媒咨询数据，2021年中国网民经常使用二手电商平台占比达43.7%。这背后是国民购买力的提升及消费观念的转变，催生着二手市场的滋长。消费升级之下，大量的闲置物品需要这样的平台去消化，让资源继续发挥其剩余价值。\n此外，二手电商平台在一众明星网红，如孙俪、薇娅、吴昕等加持之下，也迅速提升了二手交易的市场热度。\n然而，乘着二手经济这波新风口，二手车交易平台在天时地利人和之下，发展前景明朗，但是不是进入这样的红利赛道，大小玩家就能过的顺风顺水？\n万亿市场规模\n马太效应明显\n近年来的二手车交易市场规模不断扩大，根据前瞻产业研究院数据，2019年市场规模已达9356.86亿元，2020年虽有疫情影响，同比也只下降5%为8888.37亿元，2021年第一季度，规模约2475.77亿元，随着这样的增速，市场将达万亿规模。\n\n庞大市场空间之下，显然给了二手车电商巨大的想象空间，另加持续的新冠疫情造成新车芯片供给短缺，直接造成新车的供给侧面临挑战，这也使得世界范围内的二手车资产价格大涨。\n国外来看，美国二手车零售传统行业巨头CarMax业绩不断创新高，2020年销量达118万台，如今的行业翘楚新贵企业Carvana，去年销量为30万台，2020年股价大涨十倍，市值约500亿美元。\n国内来看，今年6月瓜子二手母公司车好多完成3亿美元融资，紧接着二手车平台优信签署3.15亿美元融资协议。两笔巨额资金的汇入，显露着二手车电商赛道是条不错的资本之路，正受资本追捧。\n然而随着市场的前进，曾火爆荧屏的人人车、优信二手车，在孙红雷、黄渤、王宝强等明星代言之下，迅速出圈，但如今却面临被收购、降薪裁员等负面困局，行业音量逐渐变低。\n反观今年回港二次上市的汽车之家，根据根据披露的招股书显示，其在2018年、2019年、2020年营收分别为72.33亿元、84.2亿元、86.59亿元，年度净利润为28.64亿元、32亿元、34亿元。现象背后，事实上却是行业马太效应的缩影。\n在一个行业的发展中，随着市场进程的加快，势必会有企业渐渐掉队，有企业获得突围，这是发展生存链的一般规律，即使在数万亿市场规模之下，能吃到蛋糕的仍只是少数。\n可发展仍在继续，商业模式也在不断的变化，新兴发展技术的介入，或对身处其中的玩家来讲又是另一番机会，到底能不能有所改变，也是后续生存大战继续要思考的问题。\n数智化加速，\n中尾部平台能否打破现有困境？\n纵观如今的二手车电商市场，头部玩家如鱼得水，而中尾部玩家过的却并不尽如意，除头部玩家打压之外，还将面临外来者的分食。\n今年宝马召开“BMW官方认证二手车节”；奥迪和雷克萨斯相继开启官方认证二手车活动；林肯在北京落地首个中国独立认证二手车展厅，宣布在华二手车业务上市。除传统车企，新能源汽车也开始觊觎二手生意，年初蔚来推出官方二手车业务NIO Certified。\n竞争趋势逐渐加强，挑战也愈发艰巨，另加行业问题的存在，如信息泄露，易车早在2020年就因违规收集用户信息被工信部点名，信息不对称、交易环节猫腻多、售后服务不到位等等，都将成为后续发展的阻碍。\n多重问题的叠加，二手车电商中尾部平台要想获得一定的江湖地位，需要找寻突破口。而随着如今数智化浪潮加快，对于二手车电商的玩家来说，或是个好时机。\n根据美股市场表现强劲的二手车电商Carvana来看，去年股价涨幅超130%，市值已是行业巨头Carmax两倍多，但成交量还不及其三分之一。同样的还有二手车拍卖公司KAR和互联网拍卖平台ACV，后者交易量只有前者10%，市值却反超前者。\n\n在这其中，数据驱动贡献了不小的力量，在数据驱动商业模式下，通过数据帮助汽车经销商提高车辆置换率和处置率，降低交易硬性成本，大大的提升了效率，这也将是整个行业链升级的支点。\n国外企业的成功并非偶尔，随着大数据、AI赋能的数智化进程加快，谁先抓住机遇快速转变，也就拥有了出圈的优势，这也为国内二手车电商中尾部玩家提供了方向。\n一方面，抛除过去人找车、广告烧钱的思维，当前的逻辑是车找人，利用数据运营和流通效率提升，快速洞察消费者的需求并快速满足供给。\n另一方面，大数据和AI赋能，对不同地区热销车型进行预测，在头部经销商深度参与之下，实现车辆数据共享和跨区域流转，让不同地区的二手车库透明化。\n此外，如今短视频、直播风起正盛，也是玩家们重建信任体系、去污名的重要途径。中尾部玩家只有颠覆传统思维，在数据和人工智能双轮驱动之下才能突破瓶颈，实现现有格局的突破。\n但回看目前二手车电商行业，具有极强的线下交易属性，是一个极度依赖线下的业务，同时需要巨额的广告投入，在这一模式下，行业容易陷入“持续烧钱—难以盈利—继续融资”的怪圈，这也使得中尾部玩家颠覆格局仍有一定的挑战。\n总的来说，二手车电商如今已身处蓝海，市场巨大想象力之下，玩家们也是蜂拥涌入，但马太效应下，中尾部企业要想出圈并不容易，而随着数智化进展的加快，借势其中或是条不错的路径，但到底是不是最优解还得待消费者来解说。","news_type":1,"symbols_score_info":{"UXIN":0.9}},"isVote":1,"tweetType":1,"viewCount":1573,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127303731,"gmtCreate":1624833196323,"gmtModify":1703845568283,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127303731","repostId":"1153717092","repostType":4,"isVote":1,"tweetType":1,"viewCount":1285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127303549,"gmtCreate":1624833180381,"gmtModify":1703845568122,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127303549","repostId":"1181620560","repostType":4,"isVote":1,"tweetType":1,"viewCount":1388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":121914611,"gmtCreate":1624449209533,"gmtModify":1703836991516,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/121914611","repostId":"1163510991","repostType":4,"repost":{"id":"1163510991","kind":"news","weMediaInfo":{"introduction":"中国最具影响力的财经新闻媒体《财经》携手道琼斯媒体集团，引入百年历史的《巴伦》（Barron's）独家内容，打造涵盖全球金融信息、市场动态、行业分析、公司研究及理财顾问评估的全球投资平台。","home_visible":1,"media_name":"Barrons巴伦","id":"1063202233","head_image":"https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab"},"pubTimestamp":1624447986,"share":"https://ttm.financial/m/news/1163510991?lang=en_US&edition=fundamental","pubTime":"2021-06-23 19:33","market":"us","language":"zh","title":"Baiji Investment: Meituan, Pinduoduo are the next Tesla-style enterprises","url":"https://stock-news.laohu8.com/highlight/detail?id=1163510991","media":"Barrons巴伦","summary":"总部位于爱丁堡的基金管理者柏基投资(Baillie Gifford)在过去110多年里，通过将信号与噪音分离开来，创造了令人瞩目的投资记录。该公司投资于具有长期增长潜力的公开上市公司和私有企业，而不考","content":"<p>Edinburgh-based fund manager Baillie Gifford has created a remarkable investment record over the past 110+ years by separating the signal from the noise. The company invests in publicly traded and privately owned companies with long-term growth potential, regardless of macroeconomic variables and short-term market volatility.</p><p>The firm's long-term investment vision and familiarity with new technologies have made Tom Slater, its head of U.S. equity assets and portfolio manager for U.S. stocks and long-term global growth funds, a natural fit for Barron's recent Centennial Roundtable, whose members will be charged with envisioning the next 100 years.</p><p>As a continuation of the conversation, below are edited interviews where we focus on the companies that offer the most exciting investment opportunities. Slater, who is co-manager with Barron Roundtable member James Anderson, manages the roughly £18bn ($25bn) Baillie Gifford's Scottish Mortgage Investment Trust (SMT) and serves as the $145m Baillie Gifford U.S. Equity Growth fund (BGGSX) Co-manager of. Both companies have five-star ratings from Morningstar. In the 12 months to March 31, Scottish Mortgage Investment Trust was up 99%; In the year ending June 15, U.S. With a total return of 73%, Equity Growth fund ranks at the top of Morningstar's Big Growth category.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a1e534c9728cc83586e06170e5574ff7\" tg-width=\"1080\" tg-height=\"720\"><span>Tom Slater, photo: Photograph by Matt Marcus</span></p><p><b>Barron's: After a glorious 2020, growth stocks are facing challenges. Are you worried about that?</b></p><p><b>Slater, Tom J.</b>: We don't focus on short-term fluctuations in stock prices. We focus on interesting companies that have long-term growth opportunities. Our average holding period is 5 to 10 years. Only in such a timeframe can fundamentals drive the stock price.</p><p>Many try to focus on predicting economic variables. But they are inherently extremely unpredictable, if not entirely impossible. At the same time, there are many predictable trends in areas such as communications, computing, machine learning, energy generation and storage, gene sequencing, and synthetic biology. We focus on predictable trends and the opportunities they create.</p><p><b>Barron's: At our Centennial Roundtable, you observed that some technologies in biology, if not better than Moore's Law, at least follow a similar trajectory. How should investors profit from this?</b></p><p><b>Slater, Tom J.</b>: The decrease in the cost curve of gene sequencing is far greater than the decrease in the cost of computing power under Moore's Law. Now, the cost reduction is expanding into related areas. Gene sequencing is generating vast amounts of medical data, and the cost of processing and storing this data is falling rapidly, as is the cost of applying machine learning to this data.</p><p>One adjuvant therapy is our ability to start printing (copying) DNA or RNA. Moderna (MRNA) is printing RNA sequences. We are talking about programming biology, except that instead of coding with 1s and 0s, we are using Gs, Ts, As, and Cs (nucleic acid bases sequenced by guanine, thymine, adenine, and cytosine that make up the genome).</p><p>Moderna's ability to produce safe and effective vaccines based on messenger RNA should increase confidence in the company's ability to produce vaccines to meet other huge, unmet needs, such as targeting HIV/AIDS. Another synthetic biology company, Ginkgo Bioworks, will go public through a merger with a SPAC. It is writing strings of DNA code that can be used in biological manufacturing processes.</p><p><b>Barron's: Won't Moderna's success appeal to competitors?</b></p><p><b>Slater, Tom J.</b>: When a technology undergoes a drastic change, not just an evolution of an existing paradigm, it is often difficult for established companies to accept the change. More likely, this technology will empower new businesses and new business models. Until now, this has been the case in the automotive industry with the development of electric vehicles or electric vehicles. Interestingly, pharmaceutical companies with large vaccine franchises have yet to develop an effective COVID vaccine.</p><p><b>Barron's: When it comes to EVs, Baillie Gifford has trimmed her Tesla holdings from a peak position of more than 7% to less than 2%. Why is this?</b></p><p><b>Slater, Tom J.</b>: We still have a significant stake in Tesla. Part of the reason is that the sell-off reflects the strong movement of the company's stock price and the company's operational success in driving it up. Another part of the reason is that this sell-off is just considering the possibilities of looking up from here.</p><p><b>Barron's: Who's the next Tesla in EVs and more broadly?</b></p><p><b>Slater, Tom J.</b>: China is the largest car market in the world, and I would be surprised if there were no domestic Chinese competitors to challenge Tesla.<b>We are an investor in NIO (NIO), and NIO has the opportunity to be such a player.</b></p><p>What features make Tesla so interesting? With over 100 million cars sold each year, this is a huge market. They approached it in a unique way, with a founder and CEO tying much of his wealth to the company. Tesla doggedly pursues a long-term vision and doesn't have to worry too much about what the stock market thinks. During our holdings, Tesla's share price has dropped by more than 30% on 10 occasions.</p><p>Moderna has platform-based technology with a wide enough range of applications, so it is also very interesting. Illumina (ILMN), which makes genome sequencing instruments, has a similar opportunity.<b>Chinese companies, such as Meituan (3690), which focuses on local services, and Pinduoduo (PDD), which focuses on retail, are attractive in part because of their ambitions, and they are gradually transforming the entire supply chain of their industry.</b></p><p>In Western markets, delivering pre-processed foods was initially intended as an alternative to takeout, whereas in China, the scope is much larger because there is more culture of eating pre-processed foods. In China, kitchens in apartment buildings are being designed to be smaller and smaller, while these apartment buildings are being designed for efficient food delivery service infrastructure. When you are building reliable, fast delivery infrastructure, related industries emerge.</p><p><b>ByteDance is also very fascinating</b>。 Its social media subsidiary TikTok has sparked controversy in the US, but ByteDance is 95% about China and how quickly the company has grown in size in the domestic advertising market. In China, large enterprises led by founders are taking full advantage of the scale advantage of the domestic market.</p><p><b>Barron's: Do you prefer to invest in companies that are led by the founder as CEO?</b></p><p><b>Slater, Tom J.</b>: We want to invest in companies led by people who are optimized for long-term results. It's more common with founders, but that's not to say you can't see it with professional CEOs.</p><p>Francis deSouza has been the CEO of Inmena since 2016. The company has a large revenue base, is lucrative, and is growing in a predictable way. Last year, based on its forecast of where the market will go over the next five to 10 years, Inmena offered $8 billion to acquire Grail, a pre-revenue developer of cancer blood tests. The stock market doesn't like this approach, but it's exactly what founders do.</p><p><b>Barron's: Which Privately Owned Businesses Should Investors Watch?</b></p><p><b>Slater, Tom J.</b>: Privately owned businesses like ByteDance and SpaceX have market capitalizations of tens of billions of dollars. SpaceX is trying to reduce the cost of entering space by orders of magnitude, and it is creating a new market: commercial access to space. We are also an investor in Relativity Space, a company that is building rockets using 3D printing technology.</p><p><b>Barron's: Recently, you have reduced your holdings in Amazon.com, why?</b></p><p><b>Slater, Tom J.</b>: We've been an Amazon shareholder for 16 years. Prior to last year, any reduction was for diversification within the fund. But Amazon is still a huge market for us, and it still has some significant opportunities ahead of it. The grocery business is one of them, a huge category that is slowly going online.</p><p>On the other hand, the retirement of Jeffrey Bezos as CEO is a big factor in our analysis of the company, coupled with the retirement of Jeff Wilk, who most recently ran the consumer goods business (Bezos will become executive chairman on July 5). If you think Bezos's vision and drive were important for Amazon to get to this point, even his partial exit is reason to be more cautious.</p><p><b>Barron's: What other investments are you excited about?</b></p><p><b>Slater, Tom J.</b>: Lemonade (LMND) started out as a company selling renters insurance, and this company is perfect for selling online – especially mobile phone sales. This company creates a great consumer experience. It allows customers to appoint a charity to accept excess floats in their insurance pool, which creates an incentive to not exaggerate claims. Renters insurance is usually the first insurance product that people will buy. If the experience is great, they'll consider buying pet, car, or homeowners insurance from the same brand. Lemonade is building a modern technology stack in an industry where large vendors still operate in a mainstream framework.</p><p>We recently invested in 10X Genomics (TXG) and Recursion Pharmaceuticals (RXRX). The common theme, once again, is that the efficiency of applying information technology far exceeds that of existing companies.</p><p>Affirm Holdings (AFRM) also fits this theme. Point-of-sale loans have traditionally been a bad experience for consumers, with high interest rates and hefty penalties if you don't pay. By using new technologies, Affirm creates a more consumer-facing experience that drives more people to use the service. The runway for this pattern is very long.</p><p><b>Barron's: Under what circumstances will lack of profits be a hindrance to investment?</b></p><p><b>Slater, Tom J.</b>: Whether a company is profitable at the moment has little to do with how much value it creates. In the case of software-as-a-service (SAAS) companies, signing a new customer can cost a lot of money in the first year, but the revenue stream generated by the deal can last for decades. As an investor, I want the company to sign as many customers as possible, which means they will lose a lot of money at the beginning. But if they can retain those customers, the value creation can be massive.</p><p><b>Barron's: Thank you, Tom.</b></p><p><b>By Barron's Writer Lauren R. Rublin</b></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>Baiji Investment: Meituan, Pinduoduo are the next Tesla-style enterprises</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\">\nBaiji Investment: Meituan, Pinduoduo are the next Tesla-style enterprises\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1063202233\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Barrons巴伦 </p>\n<p class=\"h-time smaller\">2021-06-23 19:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Edinburgh-based fund manager Baillie Gifford has created a remarkable investment record over the past 110+ years by separating the signal from the noise. The company invests in publicly traded and privately owned companies with long-term growth potential, regardless of macroeconomic variables and short-term market volatility.</p><p>The firm's long-term investment vision and familiarity with new technologies have made Tom Slater, its head of U.S. equity assets and portfolio manager for U.S. stocks and long-term global growth funds, a natural fit for Barron's recent Centennial Roundtable, whose members will be charged with envisioning the next 100 years.</p><p>As a continuation of the conversation, below are edited interviews where we focus on the companies that offer the most exciting investment opportunities. Slater, who is co-manager with Barron Roundtable member James Anderson, manages the roughly £18bn ($25bn) Baillie Gifford's Scottish Mortgage Investment Trust (SMT) and serves as the $145m Baillie Gifford U.S. Equity Growth fund (BGGSX) Co-manager of. Both companies have five-star ratings from Morningstar. In the 12 months to March 31, Scottish Mortgage Investment Trust was up 99%; In the year ending June 15, U.S. With a total return of 73%, Equity Growth fund ranks at the top of Morningstar's Big Growth category.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a1e534c9728cc83586e06170e5574ff7\" tg-width=\"1080\" tg-height=\"720\"><span>Tom Slater, photo: Photograph by Matt Marcus</span></p><p><b>Barron's: After a glorious 2020, growth stocks are facing challenges. Are you worried about that?</b></p><p><b>Slater, Tom J.</b>: We don't focus on short-term fluctuations in stock prices. We focus on interesting companies that have long-term growth opportunities. Our average holding period is 5 to 10 years. Only in such a timeframe can fundamentals drive the stock price.</p><p>Many try to focus on predicting economic variables. But they are inherently extremely unpredictable, if not entirely impossible. At the same time, there are many predictable trends in areas such as communications, computing, machine learning, energy generation and storage, gene sequencing, and synthetic biology. We focus on predictable trends and the opportunities they create.</p><p><b>Barron's: At our Centennial Roundtable, you observed that some technologies in biology, if not better than Moore's Law, at least follow a similar trajectory. How should investors profit from this?</b></p><p><b>Slater, Tom J.</b>: The decrease in the cost curve of gene sequencing is far greater than the decrease in the cost of computing power under Moore's Law. Now, the cost reduction is expanding into related areas. Gene sequencing is generating vast amounts of medical data, and the cost of processing and storing this data is falling rapidly, as is the cost of applying machine learning to this data.</p><p>One adjuvant therapy is our ability to start printing (copying) DNA or RNA. Moderna (MRNA) is printing RNA sequences. We are talking about programming biology, except that instead of coding with 1s and 0s, we are using Gs, Ts, As, and Cs (nucleic acid bases sequenced by guanine, thymine, adenine, and cytosine that make up the genome).</p><p>Moderna's ability to produce safe and effective vaccines based on messenger RNA should increase confidence in the company's ability to produce vaccines to meet other huge, unmet needs, such as targeting HIV/AIDS. Another synthetic biology company, Ginkgo Bioworks, will go public through a merger with a SPAC. It is writing strings of DNA code that can be used in biological manufacturing processes.</p><p><b>Barron's: Won't Moderna's success appeal to competitors?</b></p><p><b>Slater, Tom J.</b>: When a technology undergoes a drastic change, not just an evolution of an existing paradigm, it is often difficult for established companies to accept the change. More likely, this technology will empower new businesses and new business models. Until now, this has been the case in the automotive industry with the development of electric vehicles or electric vehicles. Interestingly, pharmaceutical companies with large vaccine franchises have yet to develop an effective COVID vaccine.</p><p><b>Barron's: When it comes to EVs, Baillie Gifford has trimmed her Tesla holdings from a peak position of more than 7% to less than 2%. Why is this?</b></p><p><b>Slater, Tom J.</b>: We still have a significant stake in Tesla. Part of the reason is that the sell-off reflects the strong movement of the company's stock price and the company's operational success in driving it up. Another part of the reason is that this sell-off is just considering the possibilities of looking up from here.</p><p><b>Barron's: Who's the next Tesla in EVs and more broadly?</b></p><p><b>Slater, Tom J.</b>: China is the largest car market in the world, and I would be surprised if there were no domestic Chinese competitors to challenge Tesla.<b>We are an investor in NIO (NIO), and NIO has the opportunity to be such a player.</b></p><p>What features make Tesla so interesting? With over 100 million cars sold each year, this is a huge market. They approached it in a unique way, with a founder and CEO tying much of his wealth to the company. Tesla doggedly pursues a long-term vision and doesn't have to worry too much about what the stock market thinks. During our holdings, Tesla's share price has dropped by more than 30% on 10 occasions.</p><p>Moderna has platform-based technology with a wide enough range of applications, so it is also very interesting. Illumina (ILMN), which makes genome sequencing instruments, has a similar opportunity.<b>Chinese companies, such as Meituan (3690), which focuses on local services, and Pinduoduo (PDD), which focuses on retail, are attractive in part because of their ambitions, and they are gradually transforming the entire supply chain of their industry.</b></p><p>In Western markets, delivering pre-processed foods was initially intended as an alternative to takeout, whereas in China, the scope is much larger because there is more culture of eating pre-processed foods. In China, kitchens in apartment buildings are being designed to be smaller and smaller, while these apartment buildings are being designed for efficient food delivery service infrastructure. When you are building reliable, fast delivery infrastructure, related industries emerge.</p><p><b>ByteDance is also very fascinating</b>。 Its social media subsidiary TikTok has sparked controversy in the US, but ByteDance is 95% about China and how quickly the company has grown in size in the domestic advertising market. In China, large enterprises led by founders are taking full advantage of the scale advantage of the domestic market.</p><p><b>Barron's: Do you prefer to invest in companies that are led by the founder as CEO?</b></p><p><b>Slater, Tom J.</b>: We want to invest in companies led by people who are optimized for long-term results. It's more common with founders, but that's not to say you can't see it with professional CEOs.</p><p>Francis deSouza has been the CEO of Inmena since 2016. The company has a large revenue base, is lucrative, and is growing in a predictable way. Last year, based on its forecast of where the market will go over the next five to 10 years, Inmena offered $8 billion to acquire Grail, a pre-revenue developer of cancer blood tests. The stock market doesn't like this approach, but it's exactly what founders do.</p><p><b>Barron's: Which Privately Owned Businesses Should Investors Watch?</b></p><p><b>Slater, Tom J.</b>: Privately owned businesses like ByteDance and SpaceX have market capitalizations of tens of billions of dollars. SpaceX is trying to reduce the cost of entering space by orders of magnitude, and it is creating a new market: commercial access to space. We are also an investor in Relativity Space, a company that is building rockets using 3D printing technology.</p><p><b>Barron's: Recently, you have reduced your holdings in Amazon.com, why?</b></p><p><b>Slater, Tom J.</b>: We've been an Amazon shareholder for 16 years. Prior to last year, any reduction was for diversification within the fund. But Amazon is still a huge market for us, and it still has some significant opportunities ahead of it. The grocery business is one of them, a huge category that is slowly going online.</p><p>On the other hand, the retirement of Jeffrey Bezos as CEO is a big factor in our analysis of the company, coupled with the retirement of Jeff Wilk, who most recently ran the consumer goods business (Bezos will become executive chairman on July 5). If you think Bezos's vision and drive were important for Amazon to get to this point, even his partial exit is reason to be more cautious.</p><p><b>Barron's: What other investments are you excited about?</b></p><p><b>Slater, Tom J.</b>: Lemonade (LMND) started out as a company selling renters insurance, and this company is perfect for selling online – especially mobile phone sales. This company creates a great consumer experience. It allows customers to appoint a charity to accept excess floats in their insurance pool, which creates an incentive to not exaggerate claims. Renters insurance is usually the first insurance product that people will buy. If the experience is great, they'll consider buying pet, car, or homeowners insurance from the same brand. Lemonade is building a modern technology stack in an industry where large vendors still operate in a mainstream framework.</p><p>We recently invested in 10X Genomics (TXG) and Recursion Pharmaceuticals (RXRX). The common theme, once again, is that the efficiency of applying information technology far exceeds that of existing companies.</p><p>Affirm Holdings (AFRM) also fits this theme. Point-of-sale loans have traditionally been a bad experience for consumers, with high interest rates and hefty penalties if you don't pay. By using new technologies, Affirm creates a more consumer-facing experience that drives more people to use the service. The runway for this pattern is very long.</p><p><b>Barron's: Under what circumstances will lack of profits be a hindrance to investment?</b></p><p><b>Slater, Tom J.</b>: Whether a company is profitable at the moment has little to do with how much value it creates. In the case of software-as-a-service (SAAS) companies, signing a new customer can cost a lot of money in the first year, but the revenue stream generated by the deal can last for decades. As an investor, I want the company to sign as many customers as possible, which means they will lose a lot of money at the beginning. But if they can retain those customers, the value creation can be massive.</p><p><b>Barron's: Thank you, Tom.</b></p><p><b>By Barron's Writer Lauren R. Rublin</b></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9b7f74a62c44767fb8f0a4bfbf0d91bc","relate_stocks":{"PDD":"拼多多","03690":"美团-W","TSLA":"特斯拉"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163510991","content_text":"总部位于爱丁堡的基金管理者柏基投资(Baillie Gifford)在过去110多年里，通过将信号与噪音分离开来，创造了令人瞩目的投资记录。该公司投资于具有长期增长潜力的公开上市公司和私有企业，而不考虑宏观经济变量和短期市场波动。\n该公司的长期投资视野和对新技术的熟悉程度，使其美国权益资产主管、美股和长期全球增长基金的投资组合经理汤姆·斯莱特(Tom Slater)成为《巴伦周刊》最近举办的百年圆桌会议(Centennial Roundtable)的自然之选，该圆桌会议的成员将负责畅想未来100年。\n作为对话的延续，下文是经过编辑的采访，我们重点关注那些提供最令人兴奋的投资机会的公司。斯莱特与巴伦圆桌会议成员詹姆斯 · 安德森(James Anderson)共同担任联席经理，管理着约180亿英镑(合250亿美元)的 Baillie Gifford’s Scottish Mortgage Investment Trust (SMT) ，并担任1.45亿美元的 Baillie Gifford U.S. Equity Growth fund (BGGSX)的联席经理。这两家公司都获得了晨星的五星评级。在截至3月31日的12个月中，Scottish Mortgage Investment Trust上涨了99% ; 在截至6月15日的一年中，U.S. Equity Growth fund的总回报率为73% ，在晨星公司的大成长股类别中位居前列。\n汤姆·斯莱特(Tom Slater)，图：Photograph by Matt Marcus\n《巴伦周刊》：在经历了2020年的辉煌之后，成长型股票正面临挑战。你对此担心吗？\n汤姆 · 斯莱特：我们不关注股票价格的短期波动。我们专注于那些拥有长期发展机会的有趣公司。我们的平均持有期为5至10年。只有在这样的时间范围内，基本面才能推动股价。\n许多人试图专注于预测经济变量。但它们天生就是极难预测的，如果不是完全不可能的话。与此同时，在通信、计算、机器学习、能源生成和储存、基因测序和合成生物学等领域，有许多可以预测的趋势。我们关注可预测的趋势和它们创造的机会。\n《巴伦周刊》：在我们的百年圆桌会议上，你们观察到生物学领域的一些技术即使不比摩尔定律更好，至少也遵循类似的发展轨迹。投资者应该如何从中获利？\n汤姆 · 斯莱特：基因测序成本曲线的下降幅度，远远大于摩尔定律下计算能力成本下降的幅度。现在，成本下降正在向相关领域扩展。基因测序正在产生大量的医疗数据，处理和存储这些数据的成本正在迅速下降，将机器学习应用于这些数据的成本也在迅速下降。\n一个辅助疗法是我们开始打印（复制）DNA 或 RNA 的能力。莫德纳公司（Moderna，MRNA）正在打印 RNA 序列。我们讨论的是编程生物学，只不过不是用1和0编码，而是用 Gs、 Ts、 As 和 Cs （鸟嘌呤、胸腺嘧啶、腺嘌呤和胞嘧啶ー排序的核酸碱基组成基因组）。\n莫德纳公司基于信使 RNA 生产安全有效疫苗的能力，应该会增强人们对该公司生产疫苗能力的信心，以满足其他巨大的、未被满足的需求，比如针对艾滋病毒/艾滋病。另一家合成生物公司银杏生物工程(Ginkgo Bioworks)将通过与 SPAC合并上市。它正在编写可用于生物制造过程的一串串 DNA 代码。\n《巴伦周刊》：莫德纳的成功不会吸引竞争对手吗？\n汤姆 · 斯莱特：当一项技术经历了剧烈的变化，而不仅仅是现有范式的演变，既有的公司往往很难接受这种变化。更有可能的是，这项技术将会为新的业务和新的商业模式赋能。到目前为止，随着电动汽车或电动汽车的发展，汽车行业一直是这种情况。有趣的是，拥有大型疫苗特许经营权的制药公司还没有研制出有效的新冠病毒疫苗。\n《巴伦周刊》：说到电动汽车，Baillie Gifford已经将持有的特斯拉从7% 以上的峰值仓位削减到不到2%。这是为什么？\n汤姆 · 斯莱特：我们仍然持有大量特斯拉的股份。部分原因在于，这次抛售反映出该公司股价的强劲走势，以及该公司在推动股价上涨方面的运营成功。另一部分原因，这次抛售只是在通盘考虑从这里往上看的各种可能性。\n《巴伦周刊》：在电动汽车和更广泛的领域，谁是下一个特斯拉？\n汤姆 · 斯莱特：中国是世界上最大的汽车市场，如果没有中国国内的竞争者来挑战特斯拉，我会感到惊讶。我们是蔚来（ NIO）的投资者，而蔚来有机会成为这样的参与者。\n是什么样的特性让特斯拉如此有趣？每年销售的汽车超过1亿辆，这是一个巨大的市场。他们以一种独特的方式来处理这个问题，一位创始人兼首席执行官将自己的大部分财富与公司捆绑在一起。特斯拉顽强地追求一个长期愿景，不必过分担心股市的想法。在我们持股期间，特斯拉有10次股价下跌幅度超过30% 。\n莫德纳拥有应用程序足够广泛的平台型技术，因此也非常有趣。制造基因组测序仪器的因美纳公司（Illumina，ILMN）也有类似的机会。中国的公司，比如专注于本地服务的美团（3690），以及零售领域的拼多多（PDD），都很吸引人，部分原因在于它们的雄心壮志，它们正在逐渐改变本行业的整个供应链。\n在西方市场，配送预加工食品最初是作为外卖的替代品，而在中国，这一范围要大得多，因为这里有更多吃预加工食品的文化。在中国，公寓楼里的厨房设计得越来越小，同时这些公寓楼正在高效的食品配送服务基础设施而设计。当你在建设可靠的快速交付基础设施时，相关产业就应运而生。\n字节跳动也非常迷人。它的社交媒体子公司TikTok在美国引发了争议，但字节跳动95% 是关于中国的，这家公司在国内广告市场上的规模成长多么迅速。在中国，由创始人领导的大型企业正在充分利用国内市场的规模优势。\n《巴伦周刊》：你们更喜欢投资由创始人担任CEO领导的公司吗？\n汤姆 · 斯莱特：我们希望投资那些为长期结果而优化的人领导的公司。这在创始人身上更为常见，但这并不是说你不能在职业CEO身上看到。\n自2016年以来，弗朗西斯·德·苏萨（Francis deSouza ）一直担任因美纳公司的首席执行官。该公司有一个庞大的收入基础，利润丰厚，并以可预见的方式增长。去年，基于它对未来5到10年市场走向的预测，因美纳公司出价80亿美元收购了 Grail 公司，这是一家癌症血液检测的预收入开发商。股市并不喜欢这种做法，但这正是创始人该做的事情。\n《巴伦周刊》：投资者应该关注哪些私有企业？\n汤姆 · 斯莱特：像字节跳动和SpaceX这样的私有企业市值高达数百亿美元。SpaceX试图降低进入太空的成本达到几个数量级级别，并且它正在创造一个新的市场: 进入太空的商业途径。我们也是Relativity Space公司的投资者，该公司正在使用3D打印技术制造火箭。\n《巴伦周刊》：最近，你们减少了在亚马逊网站上的持股，为什么？\n汤姆 · 斯莱特：我们作为亚马逊的股东已经有16年了。在去年之前，任何减持都是为了基金内部的多样化。但是亚马逊对我们来说仍然是一个巨大的市场，它仍然面临着一些重大机遇。杂货业务就是其中之一，它是一个正在缓慢线上化的庞大类别。\n另一方面，杰弗里 · 贝佐斯从 CEO 的位置上退下来是我们分析公司的一个重要因素，再加上最近经营消费品业务的杰夫 · 威尔克的退休(贝佐斯将于7月5日成为执行主席)。如果你认为贝佐斯的远见和动力对于亚马逊走到这一步很重要，那么哪怕是他部分的退出，也是更加谨慎的理由。\n《巴伦周刊》：还有什么其他的投资让你兴奋？\n汤姆 · 斯莱特：Lemonade（LMND）最初是一家出售租房保险的公司，这家公司非常适合在线销售——尤其是手机销售。这家公司创造了很棒的消费体验。它允许客户指定一个慈善机构来接受他们保险池中的超额浮动，这就产生了不夸大索赔要求的激励。租房保险通常是人们会购买的第一种保险产品。如果体验很棒，他们会考虑购买同一品牌的宠物、汽车或者房主保险。Lemonade 正在一个大型厂商仍然在主流框架中运行的行业中建立一个现代技术堆栈。\n我们最近投资了10X 基因组公司（10X Genomics，TXG）和递归制药公司（Recursion Pharmaceuticals，RXRX）。共同的主题，再一次是应用信息技术的效率远远超过现有公司。\nAffirm Holdings（AFRM）也符合这一主题。传统上，销售点贷款对于消费者来说是一种糟糕的体验，利率很高，如果你不付款就会受到高额罚款。通过使用新技术，Affirm 创造了一个更加面向消费者的体验，推动了更多人使用该服务。这个模式的跑道很长。\n《巴伦周刊》：在什么情况下，缺少利润将成为投资的阻碍？\n汤姆 · 斯莱特：一家公司目前是否盈利与创造了多少价值几乎没有关系。以软件即服务（SAAS）公司为例，签下一个新客户在第一年可能要花很多钱，但这笔交易所产生的收入流可能会持续数十年。作为一个投资者，我希望公司签下尽可能多的客户，这意味着他们将在一开始损失很多钱。但是，如果他们能够留住这些客户，价值创造可能是海量的。\n《巴伦周刊》：谢谢你，汤姆。\n文｜《巴伦周刊》撰稿人劳伦·R·鲁布林（Lauren R. Rublin）","news_type":1,"symbols_score_info":{"PDD":0.9,"03690":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1440,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159270215,"gmtCreate":1624972578837,"gmtModify":1703849115443,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159270215","repostId":"1162626672","repostType":4,"repost":{"id":"1162626672","kind":"news","pubTimestamp":1624950782,"share":"https://ttm.financial/m/news/1162626672?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:13","market":"us","language":"zh","title":"Buffett's 8 valuable lessons and lessons from the pandemic","url":"https://stock-news.laohu8.com/highlight/detail?id=1162626672","media":"智通财经 ","summary":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教","content":"<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Although Buffett has donated billions to charity, his net worth crossed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01 New investment? Utilizing the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments — one that emerged as a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have been recommending it to people for a long time,\" Buffett said, adding that 90 percent of the money he leaves to his wife will go to the S&P 500 after his death.</p><p>S&P 500 index funds are mutual funds or ETFs that mimic the familiar stock indices that track the 500 largest companies in the United States. Despite the pandemic, the S&P 500 surged 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings for Berkshire, they should buy the S&P 500,\" Buffett told a shareholder meeting in Los Angeles.</p><p>02 Be Practical-Even When the Market Is Losing Its Mind</p><p>Buffett recommends a long-term and practical approach for investors, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in' 89 were from the 2021 edition. The lesson is: Things are impermanent, and picking winners is not easy.</p><p>\"If you only own diversified stocks, like U.S. stocks, that would be my preference, but hold them for more than 30 years,\" he said.</p><p>03 Don't expect a pension</p><p>One of the more worrying trends Buffett delved into at the Berkshire Hathaway conference is the growing precariousness of many state pension funds, an issue he said he's been watching since 2013.</p><p>\"The pension situation in a lot of states is terrible,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed state finances and will only exacerbate the pension problem for which there is currently no long-term solution. Before the pandemic began, state pension plans already lacked $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04 Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis devastated the entire aviation industry, yet airlines survived with the help of the government. But without that support, you'd see a whole new plane crash. The industry still has months to go before normal business (and normal profit margins) can return.</p><p>\"I still don't want to buy an airline,\" Buffett told his Berkshire shareholders.</p><p>Shares of Delta Air Lines (DAL), one of the airlines Berkshire sold off from its portfolio, fell by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett has little confidence in the economic fundamentals of the aviation industry.</p><p>05 Stick to your long-term plans</p><p>Stick to your financial goals, Buffett says. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the United States, but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways\".</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. He was even reminded at the Berkshire conference that he once said it was \"too short\" to hold a stock forever.</p><p>06 Making the most of low interest rates</p><p>With interest rates falling, Buffett says it's a good time to borrow money.</p><p>With the Federal Reserve pledging to keep its key interest rate near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low interest rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"Through the actions of the Fed, it was brought back to life in a very effective way.\"</p><p>07 Avoiding Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a good survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's 2020 online shareholder meeting, he recalled the advice he gave to a friend who got a windfall and was considering the smartest way to spend. She told Buffett that she still had credit card debt — at 18% interest.</p><p>Buffett remembers telling her, \"If I had 18% debt, the first thing I would do with the money on hand is pay it off.\"\"You can't borrow money at this rate for the rest of your life and be better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett says a \"catastrophe\" is coming. It's not for nothing to call Buffett an \"oracle\". In 2019, he warned of a \"megacatastrophe\" ahead of the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the U.S., Buffett said in an interview, \"I always felt that a pandemic was going to happen sooner or later.\"</p><p>You would think that someone who has invested so much in the insurance industry would have the foresight — Berkshire owns Geico and several other insurers — that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happening in the world over the last 15 months,\" he told his investors this year. \"And we're always aware that weirder things are going to happen in the future.\"</p>","source":"stock_zhitongcaijing","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>Buffett's 8 valuable lessons and lessons from the pandemic</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\">\nBuffett's 8 valuable lessons and lessons from the pandemic\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经 </strong><span class=\"h-time small\">2021-06-29 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Although Buffett has donated billions to charity, his net worth crossed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01 New investment? Utilizing the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments — one that emerged as a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have been recommending it to people for a long time,\" Buffett said, adding that 90 percent of the money he leaves to his wife will go to the S&P 500 after his death.</p><p>S&P 500 index funds are mutual funds or ETFs that mimic the familiar stock indices that track the 500 largest companies in the United States. Despite the pandemic, the S&P 500 surged 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings for Berkshire, they should buy the S&P 500,\" Buffett told a shareholder meeting in Los Angeles.</p><p>02 Be Practical-Even When the Market Is Losing Its Mind</p><p>Buffett recommends a long-term and practical approach for investors, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in' 89 were from the 2021 edition. The lesson is: Things are impermanent, and picking winners is not easy.</p><p>\"If you only own diversified stocks, like U.S. stocks, that would be my preference, but hold them for more than 30 years,\" he said.</p><p>03 Don't expect a pension</p><p>One of the more worrying trends Buffett delved into at the Berkshire Hathaway conference is the growing precariousness of many state pension funds, an issue he said he's been watching since 2013.</p><p>\"The pension situation in a lot of states is terrible,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed state finances and will only exacerbate the pension problem for which there is currently no long-term solution. Before the pandemic began, state pension plans already lacked $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04 Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis devastated the entire aviation industry, yet airlines survived with the help of the government. But without that support, you'd see a whole new plane crash. The industry still has months to go before normal business (and normal profit margins) can return.</p><p>\"I still don't want to buy an airline,\" Buffett told his Berkshire shareholders.</p><p>Shares of Delta Air Lines (DAL), one of the airlines Berkshire sold off from its portfolio, fell by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett has little confidence in the economic fundamentals of the aviation industry.</p><p>05 Stick to your long-term plans</p><p>Stick to your financial goals, Buffett says. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the United States, but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways\".</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. He was even reminded at the Berkshire conference that he once said it was \"too short\" to hold a stock forever.</p><p>06 Making the most of low interest rates</p><p>With interest rates falling, Buffett says it's a good time to borrow money.</p><p>With the Federal Reserve pledging to keep its key interest rate near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low interest rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"Through the actions of the Fed, it was brought back to life in a very effective way.\"</p><p>07 Avoiding Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a good survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's 2020 online shareholder meeting, he recalled the advice he gave to a friend who got a windfall and was considering the smartest way to spend. She told Buffett that she still had credit card debt — at 18% interest.</p><p>Buffett remembers telling her, \"If I had 18% debt, the first thing I would do with the money on hand is pay it off.\"\"You can't borrow money at this rate for the rest of your life and be better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett says a \"catastrophe\" is coming. It's not for nothing to call Buffett an \"oracle\". In 2019, he warned of a \"megacatastrophe\" ahead of the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the U.S., Buffett said in an interview, \"I always felt that a pandemic was going to happen sooner or later.\"</p><p>You would think that someone who has invested so much in the insurance industry would have the foresight — Berkshire owns Geico and several other insurers — that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happening in the world over the last 15 months,\" he told his investors this year. \"And we're always aware that weirder things are going to happen in the future.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/503261.html\">智通财经 </a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.A":"伯克希尔"},"source_url":"https://www.zhitongcaijing.com/content/detail/503261.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162626672","content_text":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教训。\n01  新投资吗?利用标普500\n在上个月伯克希尔哈撒韦公司的年会上，巴菲特谈到了他最喜欢的一项投资——该投资在疫情期间成为赢家。\n巴菲特说:“我推荐标普500指数基金，并且长期以来一直向人们推荐。”他还说，在他去世后，他留给妻子的90%的钱将进入标普500基金。\n标普500指数基金是模仿人们熟悉的跟踪美国500家最大公司的股票指数的共同基金或ETF。尽管疫情爆发，标普500指数在2020年飙升16%，并在2021年创下新高。\n巴菲特在洛杉矶的股东大会上表示:“我喜欢伯克希尔，但我认为一个对股票一无所知，对伯克希尔没有任何特殊感觉的人，他们应该购买标普500指数。”\n02  要实际——即使在市场失去理智的时候\n巴菲特建议投资者长期且实际的方法，而不是“每天进行30或40笔交易。”\n在会议期间，巴菲特展示了两张幻灯片，展示了当今和1989年全球市值最大的20家公司。89年上榜的公司没有一家是2021年版的。教训是:世事无常，挑选赢家并不容易。\n\"如果你只持有多元化的股票，比如美国股票，那将是我的偏好，但要持有超过30年，\"他说。\n03  不要指望养老金\n巴菲特在伯克希尔哈撒韦公司的会议上深入研究的一个更令人担忧的趋势，许多州养老基金的地位越来越不稳定，他说他从2013年就开始关注这个问题。\n巴菲特说:“很多州的养老金状况都很糟糕。”“情况并没有好转。显然，情况一点也没有好转。”\n疫情已经扼杀了各州的财政，只会加剧目前没有长期解决方案的养老金问题。Pew Charitable Trusts的数据显示，在大流行开始之前，国家养老金计划已经缺乏1万亿美元的资金来满足未来对退休人员的义务。\n04  投资者应该对某些投资保持警惕\n巴菲特因为COVID-19的原因抛售了航空股。\n疫情危机摧毁了整个航空行业，然而航空公司在政府的帮助下幸存下来。但如果没有这种支持，你会看到一场全新的空难。要想恢复正常的业务(以及正常的利润率)，该行业还有好几个月的时间。\n“我还是不想买航空公司，”巴菲特告诉他的伯克希尔股东。\n达美航空(DAL)是伯克希尔从其投资组合中抛售的航空公司之一，该公司股价在去年3月1日至5月15日期间下跌了一半以上。此后，该股和美国其他主要航空公司的股价都有所回升，但巴菲特对航空业的经济基本面没有多大信心。\n05  坚持你的长期计划\n巴菲特说，要坚持你的财务目标。巴菲特仍然相信，美国经济将从COVID - 19危机中反弹，但他告诉股东，未来远非确定。\n“你可以押注美国，但你必须小心如何押注，”他说。他后来重申，世界可以以“非常、非常戏剧性的方式”发生变化。\n巴菲特从来没有动摇过他的信念，长期持有股票是一个稳定的财务未来的正确投资策略。在伯克希尔的会议上，他甚至被提醒说，他曾经说过永远持有一只股票“太短了”。\n06  充分利用低利率\n随着利率的下降，巴菲特说现在是借钱的好时机。\n由于美联储承诺将关键利率维持在接近零的水平，巴菲特认为2021年借款人将有极好的机会。\n“这是一个迷人的时代，”巴菲特告诉投资者，并补充说低利率环境“非常令人愉快”。\n“经济在2020年3月跌落悬崖，”巴菲特说。“通过美联储的行动，它以一种非常有效的方式复活了。”\n07  避免信用卡债务\n巴菲特说，如果你有信用卡债务，那就摆脱它。\n疫情导致企业关闭和裁员，迫使数百万美国人依靠信用卡来满足基本的金融需求。这是一个很好的生存策略，但由此产生的平衡和高利率会造成长期的财务压力。\n在伯克希尔2020年的在线股东大会上，他回忆了自己给一位获得意外之财的朋友的建议，这位朋友当时正在考虑最明智的消费方式。她告诉巴菲特，她还有信用卡债务——利息为18%。\n巴菲特记得对她说:“如果我有18%的债务，我会用手头的钱做的第一件事就是还清。”“你不可能一辈子都以这样的利率借钱，然后过得更好。”\n08  总是做最坏打算\n巴菲特说，一场“大灾难”即将来临。称巴菲特为“神谕”不是没有原因的。2019年，他警告说，世界将迎来一场“特大灾难”，这将使卡特里娜飓风和迈克尔飓风造成的混乱相形见绌。\n当疫情首次袭击美国时，巴菲特在一次采访中说，“我一直觉得一场大流行迟早会发生。”\n你可能会认为，在保险业投入如此之多的人会有这样的远见——伯克希尔哈撒韦拥有Geico和其他几家保险公司——为最坏的情况做准备是商业模式的核心部分。\n“过去15个月里，我们看到世界上发生了一些奇怪的事情，”他今年告诉他的投资者。“而且我们总是意识到未来会发生更奇怪的事情。”","news_type":1,"symbols_score_info":{"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":1098,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122128583,"gmtCreate":1624605675542,"gmtModify":1703841553976,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122128583","repostId":"2145704929","repostType":4,"isVote":1,"tweetType":1,"viewCount":986,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159276594,"gmtCreate":1624972798618,"gmtModify":1703849122468,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159276594","repostId":"1164662782","repostType":4,"repost":{"id":"1164662782","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624967212,"share":"https://ttm.financial/m/news/1164662782?lang=en_US&edition=fundamental","pubTime":"2021-06-29 19:46","market":"us","language":"zh","title":"At $23.5/ADS, Dingdong Maicai sets IPO price at the bottom of guidance range","url":"https://stock-news.laohu8.com/highlight/detail?id=1164662782","media":"老虎资讯综合","summary":"叮咚买菜据悉将美股IPO价格定在指导区间的底部23.5美元/ADS。\n相关阅读\n即将上市的叮咚买菜再次更新招股书，其筹资规模大幅缩减至此前额度的四分之一。最新的招股书显示，叮咚买菜首次公开发行370万","content":"<p>Ding dong shopping is reported to set the IPO price of U.S. stocks at the bottom of the guidance range of $23.5/ADS.</p><p><b>Related Reading</b></p><p>Dingdong Maicai, which is about to go public, has updated its prospectus again, and its fundraising scale has been greatly reduced to one-quarter of the previous quota. The latest prospectus shows that Dingdong Maicai made an initial public offering of 3.7 million American Depositary Shares (ADS) at the same price range as before, maintaining between $23.5 and $25.5. According to the upper limit of the issue price range, the amount of funds raised by Ding Dong shopping for groceries is about USD 94 million.</p><p>A week ago, Dingdong Maicai's first updated prospectus showed that it would publicly issue 14 million American depositary shares. At that time, it could raise nearly $360 million according to the upper limit of the offering price range. In contrast, the last announced fundraising scale was reduced to a quarter of the previous quota, that is, the overall reduction was over 70%.</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>At $23.5/ADS, Dingdong Maicai sets IPO price at the bottom of guidance range</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\">\nAt $23.5/ADS, Dingdong Maicai sets IPO price at the bottom of guidance range\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-29 19:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Ding dong shopping is reported to set the IPO price of U.S. stocks at the bottom of the guidance range of $23.5/ADS.</p><p><b>Related Reading</b></p><p>Dingdong Maicai, which is about to go public, has updated its prospectus again, and its fundraising scale has been greatly reduced to one-quarter of the previous quota. The latest prospectus shows that Dingdong Maicai made an initial public offering of 3.7 million American Depositary Shares (ADS) at the same price range as before, maintaining between $23.5 and $25.5. According to the upper limit of the issue price range, the amount of funds raised by Ding Dong shopping for groceries is about USD 94 million.</p><p>A week ago, Dingdong Maicai's first updated prospectus showed that it would publicly issue 14 million American depositary shares. At that time, it could raise nearly $360 million according to the upper limit of the offering price range. In contrast, the last announced fundraising scale was reduced to a quarter of the previous quota, that is, the overall reduction was over 70%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"DDL":"叮咚买菜"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164662782","content_text":"叮咚买菜据悉将美股IPO价格定在指导区间的底部23.5美元/ADS。\n相关阅读\n即将上市的叮咚买菜再次更新招股书，其筹资规模大幅缩减至此前额度的四分之一。最新的招股书显示，叮咚买菜首次公开发行370万股美国存托股票(ADS)，发行价格区间与此前相同，维持在23.5美元至25.5美元之间。按照发行价区间上限计算，叮咚买菜筹资金额大约在9400万美元左右。\n一周前，叮咚买菜首次更新的招股书显示其将公开发行1400万股美国存托股票，彼时按照发行价区间上限计算可筹资达到近3.6亿美元。对比之下，最近一次宣布的募资规模缩减至此前额度的四分之一，即总体缩减幅度超70%。","news_type":1,"symbols_score_info":{"DDL":0.9}},"isVote":1,"tweetType":1,"viewCount":3605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159276331,"gmtCreate":1624972786223,"gmtModify":1703849121653,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159276331","repostId":"2147863759","repostType":4,"repost":{"id":"2147863759","kind":"highlight","pubTimestamp":1624971302,"share":"https://ttm.financial/m/news/2147863759?lang=en_US&edition=fundamental","pubTime":"2021-06-29 20:55","market":"sh","language":"zh","title":"Tesla has sent CATL to the \"C position\"","url":"https://stock-news.laohu8.com/highlight/detail?id=2147863759","media":"华尔街见闻","summary":"宁德时代最近成为新能源界的C位担当，一是因为董事长曾毓群暴涨的身价，二是因为和特斯拉的一纸电池合约。\n6月28日，宁德时代发布公告称，公司已与特斯拉签订协议，将在2022年1月至2025年12月期间，","content":"<p><a href=\"https://laohu8.com/S/300750\">CATL</a>Recently, it has become the C-position in the new energy industry, first because of the skyrocketing value of Chairman Zeng Yuqun, and second because of the<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>A battery contract.</p><p>On June 28, CATL announced that the company had signed an agreement with Tesla to supply lithium-ion power battery products to Tesla from January 2022 to December 2025, that is, the next four years. The specific purchase situation is determined by Tesla by order, and the final sales amount must be subject to the actual settlement of the purchase order issued by Tesla.</p><p>In the future, Tesla's Model 3, Model Y and other models will use battery packs from CATL.</p><p><img src=\"https://static.tigerbbs.com/a713164f29f737032b723520c810364e\" tg-width=\"600\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Affected by this news, on June 29th, the share price of CATL reached a new high. The intraday share price once reached 519.60 yuan/share, and the total market value exceeded 1.2 trillion yuan. As of the close, CATL's share price closed at 508.51 yuan/share, an increase of 2.96%. Become the first technology stock in A-shares to step into the trillion-dollar club.</p><p>It is worth mentioning that since last year, the share price of CATL is like sitting on a rocket, and the total market value has risen from 0.23 trillion yuan to 1.18 trillion yuan, an increase of more than four times.</p><p>June 29,<a href=\"https://laohu8.com/S/601995\">CICC</a>According to the evaluation of this cooperation, the agreement between CATL and Tesla is stronger than the previous cooperation. Considering that the downstream demand of the company exceeds expectations, the profit forecast of CATL is raised and the target price is raised by 9% to 600 yuan. CICC also raised its 2021-2023 earnings forecast for CATL by 10%, 25% and 8% to 11 billion yuan, 20 billion yuan and 26.7 billion yuan, respectively.</p><p><a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>Recently, a research report released said that the buy rating of CATL was maintained, and the target price was 607.5 yuan. The reasons for the rating include: the strategic cooperation agreement with the car company is to bind the battery production capacity, which can solve the bottleneck of battery supply and ensure that the production capacity is not limited.</p><p>In addition, Zeng Tao, an analyst at CICC, pointed out in the report that the agreement did not stipulate the Chinese market, which means that CATL will take the opportunity of cooperating with Tesla's global market supply to accelerate its products to the world. Boosted by global demand, the long-term global market share of CATL is expected to reach more than 30%.</p><p>This is another handshake between the two head enterprises. For CATL, which has already stood at a high market value of trillions, the deep bundling with Tesla, the largest customer, is not only related to the installed battery capacity brought by this customer, but also an important ticket to break through the overseas power battery market.</p><p><h2><b>Secondary</b><b>\"Hand in Hand\"</b></h2>It is reported that in 2018, when Musk signed the landing agreement of Tesla's Shanghai factory, he secretly met Zeng Yuqun, chairman of CATL, but the two sides did not reach a substantive agreement.</p><p>At the \"2019 World Artificial Intelligence Conference\", the two met again and finalized their cooperation intention in more than 40 minutes.</p><p>In February 2020, a contract brought the two leading companies in new cars and power batteries truly together. At that time, CATL signed the Production Pricing Agreement (China) with Tesla, and planned to supply lithium-ion power battery products to Tesla from July 2020 to June 2022.</p><p>According to this contract, CATL will supply batteries for Tesla's Model 3 produced in Shanghai. The scope of cooperation between the two sides is also expected to expand further after Tesla launched the Model Y in early 2021.</p><p>On June 25th this year, on the basis of this Agreement, the two parties signed the above-mentioned cooperation framework Agreement \"Production Pricing Agreement\". The agreement stipulates that CATL plans to supply lithium-ion power battery products to Tesla in the next four years. Some analysts believe that the difference between the two cooperation framework agreements before and after lies in the removal of \"China\", which indicates that this supply agreement will cover the whole world.</p><p>The further deepening of cooperation between the two sides has actually been foreshadowed.</p><p>On June 3, Reuters quoted people familiar with the matter as saying that CATL plans to build a new large power battery factory in Shanghai to supply half of Tesla's batteries used for electric vehicles and rooftop energy storage worldwide.</p><p>The Shanghai plant is rumored to have an annual capacity of 80GWh, compared to CATL's existing capacity of 69.1GWh and 77.5GWh under construction.</p><p>In addition, the \"Oolong Incident\" that occurred in CATL a few days ago is also related to Tesla. Recently, some people claiming to be employees of CATL broke the news that CATL forced manager-level employees to buy Tesla Model 3. Some employees said that the company launched preferential activities to buy Tesla in order to clear Tesla inventory with \"battery problems\".</p><p>CATL said that there were no quality problems and no compulsory purchases. \"Regarding employees' purchase of Tesla, the company encourages employees to purchase electric vehicles at preferential prices in order to promote full electrification. There is no compulsory and is not limited to Tesla, including most of the brands it supplies. It said that this activity has lasted for three years, and last year it was during the National Day.\"</p><p><h2><b>\"Binding\" deepens</b></h2>Regardless of the Oolong incident, the relationship between Tesla and CATL is further bound.</p><p>According to the 2021 Q1 financial report of CATL, the company's sales to the top five customers accounted for 41.08% of the current receivables, and the company's main customers are large domestic and overseas car companies. According to the 2020 annual report, the company's sales gap to the third and fourth largest customers is not big.</p><p><img src=\"https://static.tigerbbs.com/7b1d28e7bc0109ab77f6fbdfcfb26e8f\" tg-width=\"640\" tg-height=\"213\" referrerpolicy=\"no-referrer\"></p><p>According to Century Securities,<b>Calculated according to the installed caliber,</b><b>In 2020, Tesla was the third largest customer in CATL, and by the first quarter of 2021, Tesla jumped into the largest customer.</b><img src=\"https://static.tigerbbs.com/71035fcd7b52b58275f0aaf4030589c9\" tg-width=\"640\" tg-height=\"232\" referrerpolicy=\"no-referrer\"></p><p>The binding between the two sides has deepened, not only because Tesla has jumped into the largest customer. More importantly, Tesla is one of the important tickets for CATL to break through the overseas power battery market.</p><p>Earlier, Jiang Li, deputy general manager and secretary of the board of directors of CATL, once said,<b>The cooperation between CATL and Tesla is not limited to China. The new contract may be the beginning of the power battery cooperation between the two parties going abroad.</b></p><p>Public data shows that CATL is already in the C position in terms of installed capacity of power batteries. In 2020, the valid catalogue of new energy models published by the Ministry of Industry and Information Technology has more than 6,800 models, of which more than 3,400 models are equipped with power batteries in CATL, accounting for the highest proportion among all power battery manufacturers.</p><p>CATL's advantages in the global power battery competition are also further expanding.</p><p>According to the latest data from SNE Research, a South Korean industry Research organization, in the first quarter of 2021, the global battery energy consumption of electric vehicles was 47.8 GWh, up 127% year-on-year, with CATL's substantial growth in the first quarter as the main driving force.</p><p>According to the data, in the first quarter, CATL's battery installed capacity increased by 320.8% year-on-year to 15.1 GWh, and its market share expanded from 25% in 2020 to 31.5% again, while its biggest competitor LG Chem and<a href=\"https://laohu8.com/S/PC\">Panasonic</a>The market share of Panasonic decreased to 20.5% and 16.7% respectively, and the market share of Panasonic decreased by nearly 10 percentage points in one year.</p><p>However, the heights are too cold, and CATL still needs to face many competitors at home and abroad.</p><p>Overseas, there are LG Chem and other enterprises eyeing; At home,<a href=\"https://laohu8.com/S/002594\">BYD</a>Already poses a threat to CATL. In March last year, BYD released a blade battery based on lithium iron phosphate, and gradually opened it from self-use to third-party car companies.</p><p>Therefore, deepening the binding with Tesla at this time may have some benefits for CATL, whether it is the installed capacity of power batteries or further enhancing the competitiveness of domestic and overseas markets.</p><p><h2><b>\"C-Bit\"</b><b>Challenges</b></h2>Although Tesla's battery contract sent CATL to the C position this time, this trillion-dollar company has a very stable position in the new energy field.</p><p>As the world's leading power battery supplier, CATL not only supplies new car representatives such as Tesla, but also cooperates with traditional car companies such as Mercedes-Benz and Honda. Three domestic new car manufacturers also chose the power battery of CATL.</p><p>Han<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>According to the statistics of SNE, an analyst organization, CATL has ranked first in the global power battery installation for four consecutive years. As recently as 2020, the global installed capacity of CATL power batteries was 34GWh, representing a market share of nearly a quarter.</p><p>With the popularity of the new energy sector, this behind-the-scenes giant has gone to the front of the stage since last year and gained capital attention. For example, clearance in 2020<a href=\"https://laohu8.com/S/NIO\">Nio</a>After that, Gaochun Capital turned to CATL and subscribed for a fixed increase of 10 billion yuan.</p><p>CATL, whose share price has soared, has also attracted more investors' attention. On May 21st, CATL also received a survey of 54 people from 33 institutional investors, including large-scale public offering of funds, foreign-funded institutions and asset management of securities firms. The topics that these institutional investors are concerned about are mainly in the development of solid-state batteries, the company's three strategic directions and the layout of photovoltaic field.</p><p>It is not only CATL that is recognized by the outside world, but its chairman Zeng Yuqun has repeatedly been at the forefront of Forbes Rich List.</p><p>As of 11: 30 a.m. on June 28th, the real-time list of Forbes Rich List showed that Zeng Yuqun, chairman of CATL, was worth $44.7 billion (about 288.8 billion yuan), ranking 30th in the world. It was his first time in the top 30 of the list.</p><p>At the beginning of May, Zeng Yuqun successfully became the richest man in Hong Kong. With a net worth of $34.5 billion, he shook the list of the richest people in Hong Kong, which was dominated by the \"Lee family\" for more than 20 years, and his personal wealth once surpassed that of Lee Shau Kee ($32.1 billion) and Li Ka-shing ($34.4 billion).</p><p>At that time, Zeng Yuqun ranked 42nd in the world's richest list, and now he has broken through to the top 30.</p><p>Within one year, CATL has gone out of the circle many times, attracting much attention in the primary and secondary markets. As the first A-share technology company with a trillion market capitalization, how long can CATL stand in the C position?</p>","source":"wallstreetcn_api","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>Tesla has sent CATL to the \"C position\"</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\">\nTesla has sent CATL to the \"C position\"\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-29 20:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/300750\">CATL</a>Recently, it has become the C-position in the new energy industry, first because of the skyrocketing value of Chairman Zeng Yuqun, and second because of the<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>A battery contract.</p><p>On June 28, CATL announced that the company had signed an agreement with Tesla to supply lithium-ion power battery products to Tesla from January 2022 to December 2025, that is, the next four years. The specific purchase situation is determined by Tesla by order, and the final sales amount must be subject to the actual settlement of the purchase order issued by Tesla.</p><p>In the future, Tesla's Model 3, Model Y and other models will use battery packs from CATL.</p><p><img src=\"https://static.tigerbbs.com/a713164f29f737032b723520c810364e\" tg-width=\"600\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Affected by this news, on June 29th, the share price of CATL reached a new high. The intraday share price once reached 519.60 yuan/share, and the total market value exceeded 1.2 trillion yuan. As of the close, CATL's share price closed at 508.51 yuan/share, an increase of 2.96%. Become the first technology stock in A-shares to step into the trillion-dollar club.</p><p>It is worth mentioning that since last year, the share price of CATL is like sitting on a rocket, and the total market value has risen from 0.23 trillion yuan to 1.18 trillion yuan, an increase of more than four times.</p><p>June 29,<a href=\"https://laohu8.com/S/601995\">CICC</a>According to the evaluation of this cooperation, the agreement between CATL and Tesla is stronger than the previous cooperation. Considering that the downstream demand of the company exceeds expectations, the profit forecast of CATL is raised and the target price is raised by 9% to 600 yuan. CICC also raised its 2021-2023 earnings forecast for CATL by 10%, 25% and 8% to 11 billion yuan, 20 billion yuan and 26.7 billion yuan, respectively.</p><p><a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>Recently, a research report released said that the buy rating of CATL was maintained, and the target price was 607.5 yuan. The reasons for the rating include: the strategic cooperation agreement with the car company is to bind the battery production capacity, which can solve the bottleneck of battery supply and ensure that the production capacity is not limited.</p><p>In addition, Zeng Tao, an analyst at CICC, pointed out in the report that the agreement did not stipulate the Chinese market, which means that CATL will take the opportunity of cooperating with Tesla's global market supply to accelerate its products to the world. Boosted by global demand, the long-term global market share of CATL is expected to reach more than 30%.</p><p>This is another handshake between the two head enterprises. For CATL, which has already stood at a high market value of trillions, the deep bundling with Tesla, the largest customer, is not only related to the installed battery capacity brought by this customer, but also an important ticket to break through the overseas power battery market.</p><p><h2><b>Secondary</b><b>\"Hand in Hand\"</b></h2>It is reported that in 2018, when Musk signed the landing agreement of Tesla's Shanghai factory, he secretly met Zeng Yuqun, chairman of CATL, but the two sides did not reach a substantive agreement.</p><p>At the \"2019 World Artificial Intelligence Conference\", the two met again and finalized their cooperation intention in more than 40 minutes.</p><p>In February 2020, a contract brought the two leading companies in new cars and power batteries truly together. At that time, CATL signed the Production Pricing Agreement (China) with Tesla, and planned to supply lithium-ion power battery products to Tesla from July 2020 to June 2022.</p><p>According to this contract, CATL will supply batteries for Tesla's Model 3 produced in Shanghai. The scope of cooperation between the two sides is also expected to expand further after Tesla launched the Model Y in early 2021.</p><p>On June 25th this year, on the basis of this Agreement, the two parties signed the above-mentioned cooperation framework Agreement \"Production Pricing Agreement\". The agreement stipulates that CATL plans to supply lithium-ion power battery products to Tesla in the next four years. Some analysts believe that the difference between the two cooperation framework agreements before and after lies in the removal of \"China\", which indicates that this supply agreement will cover the whole world.</p><p>The further deepening of cooperation between the two sides has actually been foreshadowed.</p><p>On June 3, Reuters quoted people familiar with the matter as saying that CATL plans to build a new large power battery factory in Shanghai to supply half of Tesla's batteries used for electric vehicles and rooftop energy storage worldwide.</p><p>The Shanghai plant is rumored to have an annual capacity of 80GWh, compared to CATL's existing capacity of 69.1GWh and 77.5GWh under construction.</p><p>In addition, the \"Oolong Incident\" that occurred in CATL a few days ago is also related to Tesla. Recently, some people claiming to be employees of CATL broke the news that CATL forced manager-level employees to buy Tesla Model 3. Some employees said that the company launched preferential activities to buy Tesla in order to clear Tesla inventory with \"battery problems\".</p><p>CATL said that there were no quality problems and no compulsory purchases. \"Regarding employees' purchase of Tesla, the company encourages employees to purchase electric vehicles at preferential prices in order to promote full electrification. There is no compulsory and is not limited to Tesla, including most of the brands it supplies. It said that this activity has lasted for three years, and last year it was during the National Day.\"</p><p><h2><b>\"Binding\" deepens</b></h2>Regardless of the Oolong incident, the relationship between Tesla and CATL is further bound.</p><p>According to the 2021 Q1 financial report of CATL, the company's sales to the top five customers accounted for 41.08% of the current receivables, and the company's main customers are large domestic and overseas car companies. According to the 2020 annual report, the company's sales gap to the third and fourth largest customers is not big.</p><p><img src=\"https://static.tigerbbs.com/7b1d28e7bc0109ab77f6fbdfcfb26e8f\" tg-width=\"640\" tg-height=\"213\" referrerpolicy=\"no-referrer\"></p><p>According to Century Securities,<b>Calculated according to the installed caliber,</b><b>In 2020, Tesla was the third largest customer in CATL, and by the first quarter of 2021, Tesla jumped into the largest customer.</b><img src=\"https://static.tigerbbs.com/71035fcd7b52b58275f0aaf4030589c9\" tg-width=\"640\" tg-height=\"232\" referrerpolicy=\"no-referrer\"></p><p>The binding between the two sides has deepened, not only because Tesla has jumped into the largest customer. More importantly, Tesla is one of the important tickets for CATL to break through the overseas power battery market.</p><p>Earlier, Jiang Li, deputy general manager and secretary of the board of directors of CATL, once said,<b>The cooperation between CATL and Tesla is not limited to China. The new contract may be the beginning of the power battery cooperation between the two parties going abroad.</b></p><p>Public data shows that CATL is already in the C position in terms of installed capacity of power batteries. In 2020, the valid catalogue of new energy models published by the Ministry of Industry and Information Technology has more than 6,800 models, of which more than 3,400 models are equipped with power batteries in CATL, accounting for the highest proportion among all power battery manufacturers.</p><p>CATL's advantages in the global power battery competition are also further expanding.</p><p>According to the latest data from SNE Research, a South Korean industry Research organization, in the first quarter of 2021, the global battery energy consumption of electric vehicles was 47.8 GWh, up 127% year-on-year, with CATL's substantial growth in the first quarter as the main driving force.</p><p>According to the data, in the first quarter, CATL's battery installed capacity increased by 320.8% year-on-year to 15.1 GWh, and its market share expanded from 25% in 2020 to 31.5% again, while its biggest competitor LG Chem and<a href=\"https://laohu8.com/S/PC\">Panasonic</a>The market share of Panasonic decreased to 20.5% and 16.7% respectively, and the market share of Panasonic decreased by nearly 10 percentage points in one year.</p><p>However, the heights are too cold, and CATL still needs to face many competitors at home and abroad.</p><p>Overseas, there are LG Chem and other enterprises eyeing; At home,<a href=\"https://laohu8.com/S/002594\">BYD</a>Already poses a threat to CATL. In March last year, BYD released a blade battery based on lithium iron phosphate, and gradually opened it from self-use to third-party car companies.</p><p>Therefore, deepening the binding with Tesla at this time may have some benefits for CATL, whether it is the installed capacity of power batteries or further enhancing the competitiveness of domestic and overseas markets.</p><p><h2><b>\"C-Bit\"</b><b>Challenges</b></h2>Although Tesla's battery contract sent CATL to the C position this time, this trillion-dollar company has a very stable position in the new energy field.</p><p>As the world's leading power battery supplier, CATL not only supplies new car representatives such as Tesla, but also cooperates with traditional car companies such as Mercedes-Benz and Honda. Three domestic new car manufacturers also chose the power battery of CATL.</p><p>Han<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>According to the statistics of SNE, an analyst organization, CATL has ranked first in the global power battery installation for four consecutive years. As recently as 2020, the global installed capacity of CATL power batteries was 34GWh, representing a market share of nearly a quarter.</p><p>With the popularity of the new energy sector, this behind-the-scenes giant has gone to the front of the stage since last year and gained capital attention. For example, clearance in 2020<a href=\"https://laohu8.com/S/NIO\">Nio</a>After that, Gaochun Capital turned to CATL and subscribed for a fixed increase of 10 billion yuan.</p><p>CATL, whose share price has soared, has also attracted more investors' attention. On May 21st, CATL also received a survey of 54 people from 33 institutional investors, including large-scale public offering of funds, foreign-funded institutions and asset management of securities firms. The topics that these institutional investors are concerned about are mainly in the development of solid-state batteries, the company's three strategic directions and the layout of photovoltaic field.</p><p>It is not only CATL that is recognized by the outside world, but its chairman Zeng Yuqun has repeatedly been at the forefront of Forbes Rich List.</p><p>As of 11: 30 a.m. on June 28th, the real-time list of Forbes Rich List showed that Zeng Yuqun, chairman of CATL, was worth $44.7 billion (about 288.8 billion yuan), ranking 30th in the world. It was his first time in the top 30 of the list.</p><p>At the beginning of May, Zeng Yuqun successfully became the richest man in Hong Kong. With a net worth of $34.5 billion, he shook the list of the richest people in Hong Kong, which was dominated by the \"Lee family\" for more than 20 years, and his personal wealth once surpassed that of Lee Shau Kee ($32.1 billion) and Li Ka-shing ($34.4 billion).</p><p>At that time, Zeng Yuqun ranked 42nd in the world's richest list, and now he has broken through to the top 30.</p><p>Within one year, CATL has gone out of the circle many times, attracting much attention in the primary and secondary markets. As the first A-share technology company with a trillion market capitalization, how long can CATL stand in the C position?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3634141\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/983e0432c72ee1117f6c5b8a19ed6e25","relate_stocks":{"300750":"宁德时代","TSLA":"特斯拉"},"source_url":"https://wallstreetcn.com/articles/3634141","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147863759","content_text":"宁德时代最近成为新能源界的C位担当，一是因为董事长曾毓群暴涨的身价，二是因为和特斯拉的一纸电池合约。\n6月28日，宁德时代发布公告称，公司已与特斯拉签订协议，将在2022年1月至2025年12月期间，也就是未来四年，向特斯拉供应锂离子动力电池产品。具体的采购情况特斯拉以订单方式确定，最终销售金额须以特斯拉发出的采购订单实际结算为准。\n未来，特斯拉旗下的Model 3、Model Y等车型将会使用来自宁德时代的电池组。\n\n受此消息影响，6月29日，宁德时代股价再创新高，盘中股价一度达到519.60元/股，总市值突破1.2万亿元。截至收盘，宁德时代股价报收508.51元/股，涨幅达2.96%。成为A股中第一家跨进万亿俱乐部的科技股。\n值得一提的是，自去年以来，宁德时代的股价如同坐上火箭，总市值由0.23万亿元上涨至1.18万亿元，涨幅超过4倍。\n6月29日，中金公司对此合作评价称，宁德时代此次与特斯拉的协议较之前合作力度更大，考虑到公司下游需求超预期，上调宁德时代的盈利预测，并将目标价调升9%至600元人民币。中金还上调了宁德时代2021-2023年的盈利预测10%、25%和8%，分别至110亿元、200亿元和267亿元。\n东吴证券近日发布研报称，维持宁德时代买入评级，目标价格为607.5元。其评级理由就包括：与车企的战略合作协议系绑定电池产能，能解决电池供应瓶颈，确保产能不受限。\n另外，中金分析师曾韬等在报告中指出，此次协议未约定中国市场，意味着宁德时代将以配合特斯拉全球市场供应为契机，推动产品加速走向全球。全球需求提振下，宁德时代远期全球市场份额有望达到30%以上。\n这是两家头部企业的再次握手。对于已经站上万亿市值高位的宁德时代而言，与第一大客户特斯拉的深度捆绑，不仅关乎该客户带来的电池装机量，更是一张突围海外动力电池市场的重要门票。\n二次“牵手”\n据悉，2018年，马斯克在签署特斯拉上海工厂落地协议时，曾秘密会见宁德时代董事长曾毓群，不过双方未达成实质性协议。\n在“2019世界人工智能大会”上，二人再度会面，用40多分钟敲定了合作意向。\n2020年2月，一份合约让新造车和动力电池的两家头部企业真正走到一起。彼时，宁德时代与特斯拉签订《Production Pricing Agreement (China)》，拟于2020年7月至2022年6月期间向特斯拉供应锂离子动力电池产品。\n据此合约，宁德时代为特斯拉在上海生产的Model 3供应电池。2021年初，特斯拉推出Model Y后，双方的合作范围也有望进一步扩大。\n今年6月25日，在该协议的基础上，双方又签订了上文提及的合作框架协议《Production Pricing Agreement》。协议约定宁德时代计划在未来四年向特斯拉供应锂离子动力电池产品。有分析认为，前后两份合作框架协议的区别在于去掉了“China”，预示着本次供货协议将覆盖全球。\n双方的合作进一步深入，其实早就有预示。\n6月3日，路透社援引知情人士消息称，宁德时代计划在上海新建一家大型动力电池厂，提供特斯拉在全球范围内一半用于电动汽车和屋顶储能的电池。\n有传言称，上海工厂年产能将达到80GWh，而宁德时代现有产能为69.1GWh，并有77.5GWh产能在建中。\n另外，宁德时代日前发生的“乌龙事件”也与特斯拉有关。近日，有自称是宁德时代员工的人员爆料，宁德时代强制经理级别员工购买特斯拉Model 3，有员工称公司推出购买特斯拉的优惠活动，是为了清掉“电池有问题”的特斯拉库存。\n宁德时代则表示，没有质量问题，也没有强制购买。“关于员工购买特斯拉是公司为推行全面电动化，以优惠价格鼓励员工购买电动车，没有强制，也不限于特斯拉，包括其大部分供货的品牌。称此活动已持续三年，去年是在国庆节期间。”\n“绑定”加深\n不论乌龙事件如何，特斯拉和宁德时代的关系都在进一步绑定。\n宁德时代2021年Q1财报显示，公司面向前五大客户的销售金额占当期应收比例为41.08%，公司主要客户为大型境内外车企。2020年年报显示，公司面对第三和第四大客户的销售额差距不大。\n\n而据世纪证券，按装机口径计算， 2020年特斯拉为宁德时代第三大客户，而到2021年第一季度，特斯拉一跃成为最大客户 。\n双方的绑定加深，不仅在于特斯拉跃升为最大客户。更关键的是特斯拉是宁德时代突围海外动力电池市场的重要门票之一。\n此前，宁德时代副总经理、董事会秘书蒋理曾表示，宁德时代与特斯拉的合作不局限于国内。新合约或许就是双方的动力电池合作走出国门的开始。\n公开数据表明，宁德时代在动力电池装机量上已经处于C位。2020年工信部公布的新能源车型有效目录共有6800多款车型，其中宁德时代配套动力电池的有3400多款，在全部动力电池厂商中占比最高。\n宁德时代在全球动力电池竞争中的优势也在进一步扩大。\n据韩国行业调研机构SNE Research最新数据，2021年第一季度，全球电动车电池能耗为47.8 GWh，同比增长127%，宁德时代一季度的大幅增长为主要推动力。\n数据显示，第一季度，宁德时代电池装机量同比增长320.8%至15.1 GWh，市占率从2020年全年的25%再度扩大至31.5%，而其最大竞争对手LG化学以及松下的市占率则分别下降至20.5%和16.7%，松下市占率一年内下降近10个百分点。\n但高处不胜寒，宁德时代仍然需要面对海内外不少竞争对手。\n在海外，有LG化学等企业虎视眈眈；在国内，比亚迪已经对宁德时代构成了威胁。去年3月，比亚迪发布了基于磷酸铁锂材料的刀片电池，并逐渐从自用开放给第三方车企。\n因而，此时与特斯拉加深绑定，对宁德时代而言，无论是对动力电池装机量，还是进一步提升海内外市场竞争力，或许都存在一些好处。\n“C位”挑战\n虽然本次是特斯拉的电池合约将宁德时代送上C位，但这家万亿市值的公司，在新能源领域的地位已经十分稳固。\n作为全球头部动力电池供应商，宁德时代不仅为特斯拉等新造车代表供货，还与奔驰、本田等传统车企合作。国内新造车三家企业也选择了宁德时代的动力电池。\n韩国新能源分析机构SNE统计称，宁德时代已连续四年在全球动力电池装车量排名中居于首位。就在2020年，宁德时代动力电池的全球装车量为34GWh，市场份额接近四分之一。\n随着新能源板块的火爆，这家幕后巨头从去年开始走向台前，获得资本关注。例如，在2020年清仓蔚来后，高瓴资本就转而重仓宁德时代，认购了100亿元的定增。\n股价飙升的宁德时代，也受到更多投资者的关注。5月21日，宁德时代还接待了33家机构投资者共54人的调研，其中包括大型公募基金、外资机构以及券商资管等。这些机构投资者们关心的话题，主要在固态电池发展、公司三大战略方向以及光伏领域的布局等方面。\n被外界认知的不止有宁德时代，其董事长曾毓群也屡次跻身福布斯富豪榜的前列。\n截至6月28日上午11点半，福布斯富豪榜的实时榜单显示，宁德时代董事长曾毓群身价达到447亿美元（约合2888亿元人民币），位列全球第30位。这是他首次进入榜单前30名。\n而就在5月初，曾毓群成功问鼎香港首富。他以345亿美元的身价，动摇了被“李氏家族”霸榜20余年的香港首富榜，个人财富一度超过李兆基（321亿美元）和李嘉诚（344亿美元）。\n彼时，曾毓群在全球富豪榜上的排名升至全球第42名，而今他已经突围进前30名。\n一年之内，宁德时代多次出圈，在一、二级市场备受关注。作为A股第一家万亿市值的科技公司，宁德时代在C位上又能矗立多久？","news_type":1,"symbols_score_info":{"300750":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3112,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159278430,"gmtCreate":1624972770820,"gmtModify":1703849121165,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159278430","repostId":"1162626672","repostType":4,"repost":{"id":"1162626672","kind":"news","pubTimestamp":1624950782,"share":"https://ttm.financial/m/news/1162626672?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:13","market":"us","language":"zh","title":"Buffett's 8 valuable lessons and lessons from the pandemic","url":"https://stock-news.laohu8.com/highlight/detail?id=1162626672","media":"智通财经 ","summary":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教","content":"<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Although Buffett has donated billions to charity, his net worth crossed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01 New investment? Utilizing the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments — one that emerged as a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have been recommending it to people for a long time,\" Buffett said, adding that 90 percent of the money he leaves to his wife will go to the S&P 500 after his death.</p><p>S&P 500 index funds are mutual funds or ETFs that mimic the familiar stock indices that track the 500 largest companies in the United States. Despite the pandemic, the S&P 500 surged 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings for Berkshire, they should buy the S&P 500,\" Buffett told a shareholder meeting in Los Angeles.</p><p>02 Be Practical-Even When the Market Is Losing Its Mind</p><p>Buffett recommends a long-term and practical approach for investors, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in' 89 were from the 2021 edition. The lesson is: Things are impermanent, and picking winners is not easy.</p><p>\"If you only own diversified stocks, like U.S. stocks, that would be my preference, but hold them for more than 30 years,\" he said.</p><p>03 Don't expect a pension</p><p>One of the more worrying trends Buffett delved into at the Berkshire Hathaway conference is the growing precariousness of many state pension funds, an issue he said he's been watching since 2013.</p><p>\"The pension situation in a lot of states is terrible,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed state finances and will only exacerbate the pension problem for which there is currently no long-term solution. Before the pandemic began, state pension plans already lacked $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04 Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis devastated the entire aviation industry, yet airlines survived with the help of the government. But without that support, you'd see a whole new plane crash. The industry still has months to go before normal business (and normal profit margins) can return.</p><p>\"I still don't want to buy an airline,\" Buffett told his Berkshire shareholders.</p><p>Shares of Delta Air Lines (DAL), one of the airlines Berkshire sold off from its portfolio, fell by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett has little confidence in the economic fundamentals of the aviation industry.</p><p>05 Stick to your long-term plans</p><p>Stick to your financial goals, Buffett says. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the United States, but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways\".</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. He was even reminded at the Berkshire conference that he once said it was \"too short\" to hold a stock forever.</p><p>06 Making the most of low interest rates</p><p>With interest rates falling, Buffett says it's a good time to borrow money.</p><p>With the Federal Reserve pledging to keep its key interest rate near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low interest rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"Through the actions of the Fed, it was brought back to life in a very effective way.\"</p><p>07 Avoiding Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a good survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's 2020 online shareholder meeting, he recalled the advice he gave to a friend who got a windfall and was considering the smartest way to spend. She told Buffett that she still had credit card debt — at 18% interest.</p><p>Buffett remembers telling her, \"If I had 18% debt, the first thing I would do with the money on hand is pay it off.\"\"You can't borrow money at this rate for the rest of your life and be better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett says a \"catastrophe\" is coming. It's not for nothing to call Buffett an \"oracle\". In 2019, he warned of a \"megacatastrophe\" ahead of the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the U.S., Buffett said in an interview, \"I always felt that a pandemic was going to happen sooner or later.\"</p><p>You would think that someone who has invested so much in the insurance industry would have the foresight — Berkshire owns Geico and several other insurers — that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happening in the world over the last 15 months,\" he told his investors this year. \"And we're always aware that weirder things are going to happen in the future.\"</p>","source":"stock_zhitongcaijing","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>Buffett's 8 valuable lessons and lessons from the pandemic</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\">\nBuffett's 8 valuable lessons and lessons from the pandemic\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经 </strong><span class=\"h-time small\">2021-06-29 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Although Buffett has donated billions to charity, his net worth crossed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01 New investment? Utilizing the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments — one that emerged as a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have been recommending it to people for a long time,\" Buffett said, adding that 90 percent of the money he leaves to his wife will go to the S&P 500 after his death.</p><p>S&P 500 index funds are mutual funds or ETFs that mimic the familiar stock indices that track the 500 largest companies in the United States. Despite the pandemic, the S&P 500 surged 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings for Berkshire, they should buy the S&P 500,\" Buffett told a shareholder meeting in Los Angeles.</p><p>02 Be Practical-Even When the Market Is Losing Its Mind</p><p>Buffett recommends a long-term and practical approach for investors, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in' 89 were from the 2021 edition. The lesson is: Things are impermanent, and picking winners is not easy.</p><p>\"If you only own diversified stocks, like U.S. stocks, that would be my preference, but hold them for more than 30 years,\" he said.</p><p>03 Don't expect a pension</p><p>One of the more worrying trends Buffett delved into at the Berkshire Hathaway conference is the growing precariousness of many state pension funds, an issue he said he's been watching since 2013.</p><p>\"The pension situation in a lot of states is terrible,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed state finances and will only exacerbate the pension problem for which there is currently no long-term solution. Before the pandemic began, state pension plans already lacked $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04 Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis devastated the entire aviation industry, yet airlines survived with the help of the government. But without that support, you'd see a whole new plane crash. The industry still has months to go before normal business (and normal profit margins) can return.</p><p>\"I still don't want to buy an airline,\" Buffett told his Berkshire shareholders.</p><p>Shares of Delta Air Lines (DAL), one of the airlines Berkshire sold off from its portfolio, fell by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett has little confidence in the economic fundamentals of the aviation industry.</p><p>05 Stick to your long-term plans</p><p>Stick to your financial goals, Buffett says. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the United States, but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways\".</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. He was even reminded at the Berkshire conference that he once said it was \"too short\" to hold a stock forever.</p><p>06 Making the most of low interest rates</p><p>With interest rates falling, Buffett says it's a good time to borrow money.</p><p>With the Federal Reserve pledging to keep its key interest rate near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low interest rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"Through the actions of the Fed, it was brought back to life in a very effective way.\"</p><p>07 Avoiding Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a good survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's 2020 online shareholder meeting, he recalled the advice he gave to a friend who got a windfall and was considering the smartest way to spend. She told Buffett that she still had credit card debt — at 18% interest.</p><p>Buffett remembers telling her, \"If I had 18% debt, the first thing I would do with the money on hand is pay it off.\"\"You can't borrow money at this rate for the rest of your life and be better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett says a \"catastrophe\" is coming. It's not for nothing to call Buffett an \"oracle\". In 2019, he warned of a \"megacatastrophe\" ahead of the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the U.S., Buffett said in an interview, \"I always felt that a pandemic was going to happen sooner or later.\"</p><p>You would think that someone who has invested so much in the insurance industry would have the foresight — Berkshire owns Geico and several other insurers — that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happening in the world over the last 15 months,\" he told his investors this year. \"And we're always aware that weirder things are going to happen in the future.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/503261.html\">智通财经 </a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.A":"伯克希尔"},"source_url":"https://www.zhitongcaijing.com/content/detail/503261.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162626672","content_text":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教训。\n01  新投资吗?利用标普500\n在上个月伯克希尔哈撒韦公司的年会上，巴菲特谈到了他最喜欢的一项投资——该投资在疫情期间成为赢家。\n巴菲特说:“我推荐标普500指数基金，并且长期以来一直向人们推荐。”他还说，在他去世后，他留给妻子的90%的钱将进入标普500基金。\n标普500指数基金是模仿人们熟悉的跟踪美国500家最大公司的股票指数的共同基金或ETF。尽管疫情爆发，标普500指数在2020年飙升16%，并在2021年创下新高。\n巴菲特在洛杉矶的股东大会上表示:“我喜欢伯克希尔，但我认为一个对股票一无所知，对伯克希尔没有任何特殊感觉的人，他们应该购买标普500指数。”\n02  要实际——即使在市场失去理智的时候\n巴菲特建议投资者长期且实际的方法，而不是“每天进行30或40笔交易。”\n在会议期间，巴菲特展示了两张幻灯片，展示了当今和1989年全球市值最大的20家公司。89年上榜的公司没有一家是2021年版的。教训是:世事无常，挑选赢家并不容易。\n\"如果你只持有多元化的股票，比如美国股票，那将是我的偏好，但要持有超过30年，\"他说。\n03  不要指望养老金\n巴菲特在伯克希尔哈撒韦公司的会议上深入研究的一个更令人担忧的趋势，许多州养老基金的地位越来越不稳定，他说他从2013年就开始关注这个问题。\n巴菲特说:“很多州的养老金状况都很糟糕。”“情况并没有好转。显然，情况一点也没有好转。”\n疫情已经扼杀了各州的财政，只会加剧目前没有长期解决方案的养老金问题。Pew Charitable Trusts的数据显示，在大流行开始之前，国家养老金计划已经缺乏1万亿美元的资金来满足未来对退休人员的义务。\n04  投资者应该对某些投资保持警惕\n巴菲特因为COVID-19的原因抛售了航空股。\n疫情危机摧毁了整个航空行业，然而航空公司在政府的帮助下幸存下来。但如果没有这种支持，你会看到一场全新的空难。要想恢复正常的业务(以及正常的利润率)，该行业还有好几个月的时间。\n“我还是不想买航空公司，”巴菲特告诉他的伯克希尔股东。\n达美航空(DAL)是伯克希尔从其投资组合中抛售的航空公司之一，该公司股价在去年3月1日至5月15日期间下跌了一半以上。此后，该股和美国其他主要航空公司的股价都有所回升，但巴菲特对航空业的经济基本面没有多大信心。\n05  坚持你的长期计划\n巴菲特说，要坚持你的财务目标。巴菲特仍然相信，美国经济将从COVID - 19危机中反弹，但他告诉股东，未来远非确定。\n“你可以押注美国，但你必须小心如何押注，”他说。他后来重申，世界可以以“非常、非常戏剧性的方式”发生变化。\n巴菲特从来没有动摇过他的信念，长期持有股票是一个稳定的财务未来的正确投资策略。在伯克希尔的会议上，他甚至被提醒说，他曾经说过永远持有一只股票“太短了”。\n06  充分利用低利率\n随着利率的下降，巴菲特说现在是借钱的好时机。\n由于美联储承诺将关键利率维持在接近零的水平，巴菲特认为2021年借款人将有极好的机会。\n“这是一个迷人的时代，”巴菲特告诉投资者，并补充说低利率环境“非常令人愉快”。\n“经济在2020年3月跌落悬崖，”巴菲特说。“通过美联储的行动，它以一种非常有效的方式复活了。”\n07  避免信用卡债务\n巴菲特说，如果你有信用卡债务，那就摆脱它。\n疫情导致企业关闭和裁员，迫使数百万美国人依靠信用卡来满足基本的金融需求。这是一个很好的生存策略，但由此产生的平衡和高利率会造成长期的财务压力。\n在伯克希尔2020年的在线股东大会上，他回忆了自己给一位获得意外之财的朋友的建议，这位朋友当时正在考虑最明智的消费方式。她告诉巴菲特，她还有信用卡债务——利息为18%。\n巴菲特记得对她说:“如果我有18%的债务，我会用手头的钱做的第一件事就是还清。”“你不可能一辈子都以这样的利率借钱，然后过得更好。”\n08  总是做最坏打算\n巴菲特说，一场“大灾难”即将来临。称巴菲特为“神谕”不是没有原因的。2019年，他警告说，世界将迎来一场“特大灾难”，这将使卡特里娜飓风和迈克尔飓风造成的混乱相形见绌。\n当疫情首次袭击美国时，巴菲特在一次采访中说，“我一直觉得一场大流行迟早会发生。”\n你可能会认为，在保险业投入如此之多的人会有这样的远见——伯克希尔哈撒韦拥有Geico和其他几家保险公司——为最坏的情况做准备是商业模式的核心部分。\n“过去15个月里，我们看到世界上发生了一些奇怪的事情，”他今年告诉他的投资者。“而且我们总是意识到未来会发生更奇怪的事情。”","news_type":1,"symbols_score_info":{"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":3661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127303731,"gmtCreate":1624833196323,"gmtModify":1703845568283,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127303731","repostId":"1153717092","repostType":4,"isVote":1,"tweetType":1,"viewCount":1285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159277967,"gmtCreate":1624972940859,"gmtModify":1703849128807,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159277967","repostId":"1138372330","repostType":4,"repost":{"id":"1138372330","kind":"news","pubTimestamp":1624953281,"share":"https://ttm.financial/m/news/1138372330?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:54","market":"us","language":"zh","title":"Next for Netflix: Becoming Disney?","url":"https://stock-news.laohu8.com/highlight/detail?id=1138372330","media":"极客公园","summary":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix ","content":"<p>Although Netflix has begun to make money in the face of a massive counterattack by film and television giants, it is far from enough.</p><p>Netflix Starts Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>Yeah.</p><p>Just as Aiyouteng was still competing with the short video industry, Netflix, which had already made a profit, launched Netflix Shop and entered the e-commerce field for the first time.</p><p>Netflix Shop currently has a limited number of items on sale, but 18. Among them are up to $135<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, and T-shirts for $30, but mainly clothing for $30 to $80. In the future, Netflix will also launch series of merchandise such as Stranger Things and Demon Hunter.</p><p><b>What these merchandise have in common is-they are all peripherals of Netflix's IP.</b></p><p>It's hard not to think of Disney, the top player in the IP licensing market. According to data from the International Licensing Industry Association (LIMA), global sales of licensed goods in 2019 were $292.8 billion. No. 1 Disney accounted for $54.7 billion, which is double Netflix's full-year revenue in 2020.</p><p>Apparently, Netflix is targeting the IP licensing cake. Behind this is Netflix's hidden worries and ambitions.</p><p><b>Netflix's Hidden Worries</b></p><p>2020 was pretty much the best year since Netflix was born. Because of the pandemic staying home, many people's entertainment activities have turned online. Netflix also grew 37 million paying subscribers as a result, breaking the company's growth record, and recording a historic 200 million total paying subscribers. Correspondingly, full-year profits rose 76%.</p><p>The company, which was in the DVD rental business when it was founded, turned to streaming in time at the end of the Golden Age of television. Since then, it has achieved more than double-digit growth in paying users every year.</p><p><b>As a $230 billion company, Netflix's business model is extremely simple — producing premium content that attracts consumers to pay for subscriptions.</b>In 2019, Netflix generated 98.52% of its revenue from membership fees. Analogy to domestic long video platforms<a href=\"https://laohu8.com/S/IQ\">iQIYI</a>Membership fees only account for about 50% of its total revenue, and other revenue mainly comes from online advertising and content distribution. Arguably, Netflix's revenue growth depends entirely on the growth of subscribers.<b>The flip side of this phrase is that once paying subscribers can't continue to grow, Netflix's business model will be in crisis.</b></p><p>Netflix, the pioneer of streaming platforms and the largest subscriber base, may hit the subscriber ceiling earlier. Streaming platforms are essentially robbing subscribers of pay TV. Take the U.S. pay TV market as an example. After reaching a peak of 101 million paying subscribers in 2011, it has declined year by year. At present, Netflix has about 67 million U.S. subscribers, which means that more than half of potential subscribers have already paid for Netflix. As recently as the first quarter of 2021, Netflix added just 4 million new subscribers, missing estimates of 6 million, and Netflix's stock price dropped 11% in response.</p><p>A poor quarter of performance is not a serious problem for Netflix, and what really hurts is that Netflix's market share may be being eaten away by its competitors.</p><p>In order to cope with the revenue pressure caused by the slowdown of subscriber growth, Netflix's membership fee has increased five times. The most recent occurred in October 2020, when the base package remained unchanged at $8.99, and the standard and base packages increased by $1 and $2 respectively to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for more than a decade, HBO NOW ($14.99 ad-free) and HULU ($11.99 ad-free), but it is not much different from Disney,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared with the ambitious new generation of entrants, there is little advantage. Disney + costs just $7.99 a month, and Apple TV + costs even less at just $4.99.</p><p>The past year was almost the Warring States Era of global streaming media, with giants Disney, Apple and Paramount entering the market one after another.</p><p>Reed Hastings, the founder of Netflix, responded at the first-quarter earnings analysis conference: \"Obviously, new competition has always existed. But when we look at the past data, the company has been growing because we are also very confident.\"</p><p>Founders' confidence is one aspect, but the giants' cannibalization of Netflix is also real. The market share of Netflix's original shows fell to 50% in 2020 from 56% at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global Original Programming Market Share. Data Source : Parrot Analytics. Image credit:<a href=\"https://laohu8.com/S/NYT\">The New York Times</a></p><p>Behind this, is Netflix's content loss. Because of the launch of Disney +, Netflix removed a series of Disney IP content. And HBO, also got back the copyrights of Friends, The Big Bang Theory, Studio Ghibli and other works. Similarly, the old sitcom The Office was taken back by NBC.</p><p>Netflix's self-produced shows account for only 30% of the total time watched by subscribers, and the rest comes from external rights. According to China Business News, the top three Netflix titles in 2018 were The Office, Friends and Grey's Anatomy. New content may be the key to driving user growth, but for older audiences, they are more inclined to choose works they are familiar with.</p><p>Netflix, which has been working on original content, withdrew most of its production plans because of the pandemic. Currently, Netflix doesn't have any major comeback series.</p><p>Netflix's model is somewhat like a one-time deal. After watching the episode, the user no longer has contact with the show. Netflix's \"Stranger Things\" and \"House of Cards\" have huge die-hard fans, but a single subscription payment model can't fully tap the value of these IPs. This creates a strange phenomenon: fans holding bills and shouting \"Shut up and take my money\" on one side, and officials \"indifferent\" on the other.</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Credit: memegenetator</p><p>Last year, Netflix's self-produced documentary Tiger King was watched by 34.3 million people within 10 days of its launch, making it Netflix's most successful series. A large number of \"Tiger King\" peripherals immediately appeared on the e-commerce brand Esty. But none of them are knockoffs.</p><p>Search for \"Tiger King\" on Esty and there are still 8195 results. Credit: Esty</p><p>It is not difficult to understand why Netflix is launching an online mall. On Netflix's official blog, Josh Simon, head of Netflix Shop and vice president of consumer goods, wrote: \"<b>We love seeing good stories go beyond screens and become part of people's lives.</b>」「<b>We are constantly thinking about how we can expand our story world for fans, from costumes and toys to immersive events and games.</b>That's why today we launch Netflix.shop as an exciting new destination that combines curated products and rich stories in a unique Netflix shopping experience. \"</p><p>This says one thing between the lines:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man approached Walter Disney at the hotel, offered $300 and asked for Mickey Mouse to be printed on his writing desk. The $300 became Disney's first \"franchise\" revenue. Nearly a hundred years later, that $300 became $54.7 billion in big business.</p><p>Flip through Disney's IP list and you'll see that it's almost a bottomless directory. In addition to its own original IPs, such as Mickey Mouse, Winnie the Pooh, Disney Princesses, The Lion King, etc., Disney also went wild to buy Pixar, Marvel, Lucasfilm, and Twentieth Century Fox in the first 20 years of the 21st century. That is to say, except Mickey Mouse, all the IPs you are familiar with such as Avengers, Star Wars, Avatar, and Toy Story belong to Disney.</p><p>Family portrait of IP characters owned by Disney. Credit: psu.edu</p><p>According to TitleMax 2019 data, eight of the world's 20 most profitable IPs came from Disney, with a cumulative economic value of $355.182 billion. Winnie the Pooh, Mickey Mouse and Star Wars ranked 3rd, 4th and 5th respectively. These old IPs, which have exceeded 40 years or even nearly a hundred years, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The rest of the TOP 20 Disney IPs are Disney Princess at#7, Marvel Universe at#11, Spider-Man at#12, Cars at#18, and Toy Story at#19. Credit: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>The film itself may not make money, but it must drive the development of related products</b>。 Walt Disney clearly knows it. Back in 1957, he drew a sketch that clearly depicted Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model painted by Walt Disney. Credit: kottke.org</p><p>In this sketch, the film studio is clearly central, with music, television, licensed merchandise, theme parks and publications all surrounding it. In the case of magazines, movies provide articles for magazines, and magazines can promote movies and Disneyland. Each part is closely linked, cooperating and complementing each other.</p><p>To this day, Disney Company still hasn't departed from the underlying logic of this model. Disney never regards the animated images created as disposable consumer goods, but as a gold mine that can be consumed for a long time. When Disney makes a movie, the company doesn't just think about the movie itself, but how it translates the story into goods, services, experiences and other derivatives. As former Disney's chief financial officer Jay Rasulo said, \"Every aspect of the company is brand-oriented and franchise-oriented.\"</p><p>Today, Disney's model is called<b>Round Revenue</b>。</p><p>First of all, Disney will launch movies with IP stories as the core at a high cost, and earn the first round of revenue through the box office.</p><p>Then, Disney will sell the rights to the film to the streaming platform for a second round of revenue</p><p>At the same time, Disney will add corresponding new characters to the theme park for every new movie it releases, earning a third round of revenue through Disneyland.</p><p>Finally, earn a fourth round of revenue through franchising, publishing, retail, and more.</p><p>Through these four rounds of revenue, Disney clearly \"drained\" the profits of every IP. These diverse profit channels give Disney a key advantage over Netflix, and further extend the vitality of its IP.</p><p><b>Build Love for Stories, Turn Love into Money</b></p><p>Unlike Disney, Netflix has no plans to set up offline stores. At present, Netflix has cooperated with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, H&M, Sephora and other retailers have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online mall system with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times and Kim Kardashian's brand Skims.</p><p>Simon, the project leader of Netflix Shop, once spent six years at Disney Studios as director of production and development.</p><p>These messages all seem to indicate Netflix's determination: \"Hey! We're not playing tickets, we're serious!\"</p><p>For years, Netflix has shied away from whether it is an entertainment company or a technology company. Just recently, Netflix founder Hastings declared, \"We really are an entertainment company.\"</p><p>According to Matthew Ball, a former executive at Amazon Studio,<b>Essentially, an entertainment company only does three things;</b></p><p><ol><li><b>Create/Tell Stories</b></p><p></li><li><b>Build Love for These Stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By that standard, Disney is hands down the best company on the planet. Think, how many little girls want to wear Elsa's long blue dress while visiting Disneyland? And how many parents will pay for it?</p><p>Netflix has done well enough to tell stories and build love, but can it turn love into money?</p><p>Mark A Cohen, director of retail research at Columbia Business School, is skeptical: \"Most of them [Netflix's hits] have a short shelf life, unlike Disney's IP, which is a generational journey.\"</p><p>Despite a lot of uncertainty, this is certainly the best year for Netflix financially. The company has borrowed a total of $16 billion over the past 10 years. Late last year, Netflix said at its fourth-quarter earnings that it no longer needed to seek borrowing to fund the company. In other words, Netflix became a truly profitable company.</p><p>Its other streaming rivals are still losing money, including Disney.</p>","source":"jkgy","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>Next for Netflix: Becoming Disney?</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\">\nNext for Netflix: Becoming Disney?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">极客公园</strong><span class=\"h-time small\">2021-06-29 15:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Although Netflix has begun to make money in the face of a massive counterattack by film and television giants, it is far from enough.</p><p>Netflix Starts Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>Yeah.</p><p>Just as Aiyouteng was still competing with the short video industry, Netflix, which had already made a profit, launched Netflix Shop and entered the e-commerce field for the first time.</p><p>Netflix Shop currently has a limited number of items on sale, but 18. Among them are up to $135<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, and T-shirts for $30, but mainly clothing for $30 to $80. In the future, Netflix will also launch series of merchandise such as Stranger Things and Demon Hunter.</p><p><b>What these merchandise have in common is-they are all peripherals of Netflix's IP.</b></p><p>It's hard not to think of Disney, the top player in the IP licensing market. According to data from the International Licensing Industry Association (LIMA), global sales of licensed goods in 2019 were $292.8 billion. No. 1 Disney accounted for $54.7 billion, which is double Netflix's full-year revenue in 2020.</p><p>Apparently, Netflix is targeting the IP licensing cake. Behind this is Netflix's hidden worries and ambitions.</p><p><b>Netflix's Hidden Worries</b></p><p>2020 was pretty much the best year since Netflix was born. Because of the pandemic staying home, many people's entertainment activities have turned online. Netflix also grew 37 million paying subscribers as a result, breaking the company's growth record, and recording a historic 200 million total paying subscribers. Correspondingly, full-year profits rose 76%.</p><p>The company, which was in the DVD rental business when it was founded, turned to streaming in time at the end of the Golden Age of television. Since then, it has achieved more than double-digit growth in paying users every year.</p><p><b>As a $230 billion company, Netflix's business model is extremely simple — producing premium content that attracts consumers to pay for subscriptions.</b>In 2019, Netflix generated 98.52% of its revenue from membership fees. Analogy to domestic long video platforms<a href=\"https://laohu8.com/S/IQ\">iQIYI</a>Membership fees only account for about 50% of its total revenue, and other revenue mainly comes from online advertising and content distribution. Arguably, Netflix's revenue growth depends entirely on the growth of subscribers.<b>The flip side of this phrase is that once paying subscribers can't continue to grow, Netflix's business model will be in crisis.</b></p><p>Netflix, the pioneer of streaming platforms and the largest subscriber base, may hit the subscriber ceiling earlier. Streaming platforms are essentially robbing subscribers of pay TV. Take the U.S. pay TV market as an example. After reaching a peak of 101 million paying subscribers in 2011, it has declined year by year. At present, Netflix has about 67 million U.S. subscribers, which means that more than half of potential subscribers have already paid for Netflix. As recently as the first quarter of 2021, Netflix added just 4 million new subscribers, missing estimates of 6 million, and Netflix's stock price dropped 11% in response.</p><p>A poor quarter of performance is not a serious problem for Netflix, and what really hurts is that Netflix's market share may be being eaten away by its competitors.</p><p>In order to cope with the revenue pressure caused by the slowdown of subscriber growth, Netflix's membership fee has increased five times. The most recent occurred in October 2020, when the base package remained unchanged at $8.99, and the standard and base packages increased by $1 and $2 respectively to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for more than a decade, HBO NOW ($14.99 ad-free) and HULU ($11.99 ad-free), but it is not much different from Disney,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared with the ambitious new generation of entrants, there is little advantage. Disney + costs just $7.99 a month, and Apple TV + costs even less at just $4.99.</p><p>The past year was almost the Warring States Era of global streaming media, with giants Disney, Apple and Paramount entering the market one after another.</p><p>Reed Hastings, the founder of Netflix, responded at the first-quarter earnings analysis conference: \"Obviously, new competition has always existed. But when we look at the past data, the company has been growing because we are also very confident.\"</p><p>Founders' confidence is one aspect, but the giants' cannibalization of Netflix is also real. The market share of Netflix's original shows fell to 50% in 2020 from 56% at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global Original Programming Market Share. Data Source : Parrot Analytics. Image credit:<a href=\"https://laohu8.com/S/NYT\">The New York Times</a></p><p>Behind this, is Netflix's content loss. Because of the launch of Disney +, Netflix removed a series of Disney IP content. And HBO, also got back the copyrights of Friends, The Big Bang Theory, Studio Ghibli and other works. Similarly, the old sitcom The Office was taken back by NBC.</p><p>Netflix's self-produced shows account for only 30% of the total time watched by subscribers, and the rest comes from external rights. According to China Business News, the top three Netflix titles in 2018 were The Office, Friends and Grey's Anatomy. New content may be the key to driving user growth, but for older audiences, they are more inclined to choose works they are familiar with.</p><p>Netflix, which has been working on original content, withdrew most of its production plans because of the pandemic. Currently, Netflix doesn't have any major comeback series.</p><p>Netflix's model is somewhat like a one-time deal. After watching the episode, the user no longer has contact with the show. Netflix's \"Stranger Things\" and \"House of Cards\" have huge die-hard fans, but a single subscription payment model can't fully tap the value of these IPs. This creates a strange phenomenon: fans holding bills and shouting \"Shut up and take my money\" on one side, and officials \"indifferent\" on the other.</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Credit: memegenetator</p><p>Last year, Netflix's self-produced documentary Tiger King was watched by 34.3 million people within 10 days of its launch, making it Netflix's most successful series. A large number of \"Tiger King\" peripherals immediately appeared on the e-commerce brand Esty. But none of them are knockoffs.</p><p>Search for \"Tiger King\" on Esty and there are still 8195 results. Credit: Esty</p><p>It is not difficult to understand why Netflix is launching an online mall. On Netflix's official blog, Josh Simon, head of Netflix Shop and vice president of consumer goods, wrote: \"<b>We love seeing good stories go beyond screens and become part of people's lives.</b>」「<b>We are constantly thinking about how we can expand our story world for fans, from costumes and toys to immersive events and games.</b>That's why today we launch Netflix.shop as an exciting new destination that combines curated products and rich stories in a unique Netflix shopping experience. \"</p><p>This says one thing between the lines:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man approached Walter Disney at the hotel, offered $300 and asked for Mickey Mouse to be printed on his writing desk. The $300 became Disney's first \"franchise\" revenue. Nearly a hundred years later, that $300 became $54.7 billion in big business.</p><p>Flip through Disney's IP list and you'll see that it's almost a bottomless directory. In addition to its own original IPs, such as Mickey Mouse, Winnie the Pooh, Disney Princesses, The Lion King, etc., Disney also went wild to buy Pixar, Marvel, Lucasfilm, and Twentieth Century Fox in the first 20 years of the 21st century. That is to say, except Mickey Mouse, all the IPs you are familiar with such as Avengers, Star Wars, Avatar, and Toy Story belong to Disney.</p><p>Family portrait of IP characters owned by Disney. Credit: psu.edu</p><p>According to TitleMax 2019 data, eight of the world's 20 most profitable IPs came from Disney, with a cumulative economic value of $355.182 billion. Winnie the Pooh, Mickey Mouse and Star Wars ranked 3rd, 4th and 5th respectively. These old IPs, which have exceeded 40 years or even nearly a hundred years, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The rest of the TOP 20 Disney IPs are Disney Princess at#7, Marvel Universe at#11, Spider-Man at#12, Cars at#18, and Toy Story at#19. Credit: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>The film itself may not make money, but it must drive the development of related products</b>。 Walt Disney clearly knows it. Back in 1957, he drew a sketch that clearly depicted Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model painted by Walt Disney. Credit: kottke.org</p><p>In this sketch, the film studio is clearly central, with music, television, licensed merchandise, theme parks and publications all surrounding it. In the case of magazines, movies provide articles for magazines, and magazines can promote movies and Disneyland. Each part is closely linked, cooperating and complementing each other.</p><p>To this day, Disney Company still hasn't departed from the underlying logic of this model. Disney never regards the animated images created as disposable consumer goods, but as a gold mine that can be consumed for a long time. When Disney makes a movie, the company doesn't just think about the movie itself, but how it translates the story into goods, services, experiences and other derivatives. As former Disney's chief financial officer Jay Rasulo said, \"Every aspect of the company is brand-oriented and franchise-oriented.\"</p><p>Today, Disney's model is called<b>Round Revenue</b>。</p><p>First of all, Disney will launch movies with IP stories as the core at a high cost, and earn the first round of revenue through the box office.</p><p>Then, Disney will sell the rights to the film to the streaming platform for a second round of revenue</p><p>At the same time, Disney will add corresponding new characters to the theme park for every new movie it releases, earning a third round of revenue through Disneyland.</p><p>Finally, earn a fourth round of revenue through franchising, publishing, retail, and more.</p><p>Through these four rounds of revenue, Disney clearly \"drained\" the profits of every IP. These diverse profit channels give Disney a key advantage over Netflix, and further extend the vitality of its IP.</p><p><b>Build Love for Stories, Turn Love into Money</b></p><p>Unlike Disney, Netflix has no plans to set up offline stores. At present, Netflix has cooperated with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, H&M, Sephora and other retailers have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online mall system with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times and Kim Kardashian's brand Skims.</p><p>Simon, the project leader of Netflix Shop, once spent six years at Disney Studios as director of production and development.</p><p>These messages all seem to indicate Netflix's determination: \"Hey! We're not playing tickets, we're serious!\"</p><p>For years, Netflix has shied away from whether it is an entertainment company or a technology company. Just recently, Netflix founder Hastings declared, \"We really are an entertainment company.\"</p><p>According to Matthew Ball, a former executive at Amazon Studio,<b>Essentially, an entertainment company only does three things;</b></p><p><ol><li><b>Create/Tell Stories</b></p><p></li><li><b>Build Love for These Stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By that standard, Disney is hands down the best company on the planet. Think, how many little girls want to wear Elsa's long blue dress while visiting Disneyland? And how many parents will pay for it?</p><p>Netflix has done well enough to tell stories and build love, but can it turn love into money?</p><p>Mark A Cohen, director of retail research at Columbia Business School, is skeptical: \"Most of them [Netflix's hits] have a short shelf life, unlike Disney's IP, which is a generational journey.\"</p><p>Despite a lot of uncertainty, this is certainly the best year for Netflix financially. The company has borrowed a total of $16 billion over the past 10 years. Late last year, Netflix said at its fourth-quarter earnings that it no longer needed to seek borrowing to fund the company. In other words, Netflix became a truly profitable company.</p><p>Its other streaming rivals are still losing money, including Disney.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw\">极客公园</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e2224e6b43e75f835dbd8bb6d8c4972c","relate_stocks":{"DIS":"迪士尼","QNETCN":"纳斯达克中美互联网老虎指数","NFLX":"奈飞"},"source_url":"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138372330","content_text":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix Shop，首次进入了电商领域。\nNetflix Shop 目前在售的商品数量还很有限，不过 18 种。其中有高达 135 美元的机器人闹钟，也有 30 美元的 T 恤，但主要还是价位在 30 至 80 美元的服饰。未来，Netflix 还会推出《怪奇物语》《猎魔人》等系列商品。\n这些商品的共同点在于——它们都是 Netflix 旗下 IP 的周边产品。\n这很难让人不联想到 IP 授权市场里的那个顶级玩家——迪士尼。根据国际授权业协会（LIMA）数据显示，2019 年全球授权商品的销售额为了 2928 亿美元。第一名迪士尼就占了 547 亿美元，这个数字，是 Netflix 2020 全年收入的两倍。\n显然，Netflix 瞄准了 IP 授权的蛋糕。这背后，是 Netflix 的隐忧，和野心。\nNetflix 的隐忧\n2020 年几乎是 Netflix 诞生以来最好的一年。因为疫情宅家的原因，许多人的娱乐活动都转向了线上。Netflix 也因此增长了 3700 万付费用户，打破了该公司的增长纪录，总付费用户数也历史性地突破 2 亿。相应的，全年利润增长了 76%。\n这家创立时做 DVD 租赁生意的公司，在电视黄金时代的末尾，及时转向了流媒体业务。此后年年实现了付费用户两位数以上的增长。\n作为一家市值 2300 亿美元的公司，Netflix 的商业模式却极其简单——生产优质内容，吸引消费者付费订阅。2019 年，Netflix 98.52% 的收入都来自会员费。类比国内的长视频平台爱奇艺，会员费仅占其总营收的约 50%，其它的收入主要来自在线广告和内容分发。可以说，Netflix 营收的增长完全取决于用户的增长。这句话的另一面是，一旦付费用户无法持续增长，Netflix 的商业模式就会迎来危机。\n作为流媒体平台的先驱和用户数量最庞大的 Netflix，可能更早撞上用户天花板。流媒体平台本质上是抢夺了付费电视的用户。以美国付费电视市场为例，在 2011 年付费用户达到 1.01 亿的顶峰后就逐年下滑。目前 Netflix 的美国用户约为 6700 万，也就是说，超过半数的潜在用户已经为 Netflix 买了单。就在 2021 年第一季度，Netflix 新增用户仅为 400 万，低于预期的 600 万，Netflix 的股价应声下跌了 11%。\n一个季度的糟糕表现对 Netflix 来说并不是什么严重的问题，真正伤筋动骨的是——Netflix 的市场份额可能正在被竞争对手蚕食。\n为了应对用户增长放缓带来的营收压力，Netflix 的会员费先后上涨过 5 次。最近的一次发生在 2020 年 10 月份, 基础套餐维持在 8.99 美元不变，标准和基础套餐别上涨了 1 美元和 2 美元，至 13.99 美元和 17.99 美元。\n这个价格与 Netflix 过于十几年来的主要竞争对手 HBO NOW（无广告版 14.99 美元）、HULU（无广告版 11.99 美元）差别不大，但是和迪士尼、苹果这些野心勃勃的新一代入场者相比，就没有什么优势了。迪士尼+的月费仅为 7.99 美元，苹果 TV+的费用甚至更低，仅为 4.99 美元。\n过去一年几乎是全球流媒体的战国时代，巨头迪士尼、苹果、派拉蒙相继入场。\n在今年一季度的财报分析会议上，当被问及如何看待当下的竞争时，Netflix 的创始人里德·黑斯廷斯（Reed Hastings）是这么回应的：「很明显，新的竞争一直存在。但是当我们翻看过往的数据，公司一直在保持增长，因为我们也很有信心。」\n创始人的信心是一方面，但巨头们对 Netflix 的蚕食也是实实在在。2020 年，Netflix 原创节目的市场份额从年初的 56% 跌至了 50%。\n全球原创节目市场份额。数据来源：Parrot Analytics。图片来源：纽约时报\n这背后，是 Netflix 的内容流失。因为迪士尼+的上线，Netflix 下架了一系列迪士尼 IP 内容。而 HBO，也拿回了《老友记》《生活大爆炸》、吉卜力工作室等作品的版权。同样的，老牌情景喜剧《办公室》也被 NBC 收回旗下。\n在订阅用户的观看时长中，Netflix 自制剧仅占总数的 30%，其它都来自外部版权。根据《第一财经》杂志的数据，2018 年 Netflix 播放时长前三的作品正是《办公室》《老友记》和《实习医生格蕾》。新内容可能是拉动用户增长的关键，但是对于老观众来说，他们更倾向于选择自己熟悉的作品。\n一直在原创内容发力的 Netflix，因为疫情的缘故，撤回了大部分制作计划。目前，Netflix 还没有任何大型的回归系列。\nNetflix 的模式多少像是一锤子买卖。用户观看完剧集后，就和这部剧不再发生联系。Netflix 旗下的《怪奇物语》《纸牌屋》有大批的死忠粉丝，但单一的订阅付费模式并不能完全挖掘这些 IP 的价值。这就出现了一种奇怪的现象：一边是手握钞票嗷嗷叫着「Shut up and take my money」的粉丝，一边是「无动于衷」的官方。\n图片来源：memegenetator\n去年 Netflix 自制纪录片《虎王》上线 10 天就有 3430 万人观看，是 Netflix 最成功的剧集。在电商品牌 Esty 上立刻出现了大量《虎王》周边。但无一列外，它们都是山寨的。\n在 Esty 上搜索「虎王」，仍有 8195 条结果。图片来源：Esty\n这就不难理解为什么 Netflix 要推出线上商城。在 Netflix 官方博客中，Netflix Shop 的负责人、消费品部门副总裁约什·西蒙（Josh Simon）如此写道：「我们喜欢看到好故事超越屏幕，成为人们生活的一部分。」「我们一直在考虑如何为粉丝们拓展我们的故事世界，从服装和玩具到身临其境的事件和游戏。这也是为什么今天我们推出 Netflix.shop，将其作为一个令人兴奋的新目的地，将精心策划的产品和丰富的故事结合在一个独特的 Netflix 购物体验中。」\n这字里行间都在说一件事：我们想要成为迪士尼！\n迪士尼魔法\n1929 年，有一个人到旅馆找到沃尔特·迪士尼（Walter Disney），拿出 300 美元，要求把米老鼠的形象印在写字桌上。这 300 美元成了迪士尼的第一笔「特许经营」收入。近百年后，这 300 美元成了 547 亿美元的大生意。\n翻开迪士尼的 IP 清单，你会发现这几乎是一本长不见底的名录。除了自有的原创 IP，如米老鼠、小熊维尼、迪士尼公主、狮子王等，迪士尼在 21 世纪的头 20 年还疯狂收购了皮克斯、漫威、卢卡斯影业、二十世纪福克斯。也就是说，除了米老鼠，你所熟悉的复仇者联盟、星球大战、阿凡达、玩具总动员这些 IP 全部都属于迪士尼。\n迪士尼旗下 IP 人物全家福。图片来源：psu.edu\n根据 TitleMax 2019 年的数据，全球最赚钱的 20 个 IP 中有 8 个来自迪士尼，累计经济价值达 3551.82 亿美元。其中小熊维尼、米老鼠、星球大战分别位列第 3、4、5 位。这些超过了 40 年甚至近百年的老 IP，依旧爆发出了惊人的生命力。\n其余 TOP 20 的迪士尼 IP 分别是第 7 位的迪士尼公主、11 位的漫威宇宙、12 位的蜘蛛侠、18 位的赛车总动员和 19 位的玩具总动员。图片来源：TITLEMAX\n在好莱坞，有一个著名的火车头理论：电影本身可以不赚钱，但它必须带动相关产品的发展。沃尔特·迪士尼显然深谙此道。早在 1957 年，他就画下了一张草图，清晰描述了迪士尼的商业模式。\n沃尔特·迪士尼画下的迪士尼商业模式。图片来源：kottke.org\n在这张草图中，电影制片厂处在了明确的中心位置，音乐、电视、授权商品、主题乐园和出版物都环绕在四周。拿杂志来说，电影为杂志提供了文章内容，杂志则可以宣传电影和迪士尼乐园。每一部分都紧密联系在一起，相互配合，相互补充。\n时至今日，迪士尼公司依旧没有脱离这套模式的底层逻辑。迪士尼从不把创作出的动画形象看成一次性消费品，而是作为一个可长久消费的金矿去深度挖掘。当迪士尼制作一部电影时，公司不仅仅是考虑电影本身，而如何将故事转化为商品、服务、体验和其它衍生产品。正如迪士尼前首席财务官杰·拉苏洛（Jay Rasulo）所说：「公司的每个方面都是面向品牌和特许经营的。」\n在今天，迪士尼的这种模式被叫做轮次收入。\n首先，迪士尼会以高成本推出以 IP 故事为核心的电影，通过票房赚取第一轮收入。\n然后，迪士尼会把影片版权卖给流媒体平台，赚取第二轮收入\n同时，迪士尼每推出一部新电影就会在主题乐园中增加相应的新人物，通过迪士尼乐园赚取第三轮收入。\n最后，通过特许经营、出版、零售等方式赚取第四轮收入。\n通过这四轮收入，迪士尼明明白白地「榨干」了每一个 IP 的利润。这些多种多样的盈利渠道使迪士尼比 Netflix 拥有了关键的优势，更加延续了旗下 IP 的生命力。\n为故事建立爱，把爱变成钱\n与迪士尼不同，Netflix 并没有建立线下门店的计划。目前，Netflix 已经和 Target、沃尔玛、亚马逊、H&M、丝芙兰等零售商签订了数百种周边产品的许可协议。\nNetflix 还和电商平台 Shopify 一起开发了线上商城系统。此前，Shopify 已经为 Allbirds、Kith、《纽约时报》和金·卡戴珊（Kim Kardashian）的品牌 Skims 提供过技术支持。\n而 Netflix Shop 的项目负责人西蒙，就曾经在迪士尼工作室呆过六年，担任制作和开发总监。\n这些信息似乎都在表明 Netflix 的决心：「嘿！我们可不是在玩票，我们是认真的！」\n多年来，Netflix 一直回避自己是一家娱乐公司还是科技公司。就在最近，Netflix 创始人黑斯廷斯宣称：「我们真的是一家娱乐公司。」\n按照亚马逊工作室（Amazon Studio）前高管马修·鲍尔（Matthew Ball）的说法，从本质上讲，一家娱乐公司只做三件事：\n\n创造/讲述故事\n为这些故事建立爱\n把爱变成钱\n\n按照这个标准来说，迪士尼无疑是这个星球上做得最好的公司。想想看，有多少小女孩想在逛迪士尼乐园的时候穿上爱莎的蓝色长裙？又有多少家长会为此买单？\n在讲故事和建立爱上，Netflix 已经做得足够好了，但它能把爱变成钱吗？\n哥伦比亚商学院的零售研究主任马克·A·科恩（Mark A Cohen）就表示了怀疑：「它们（Netflix 的热播剧）大多数的保质期都很短，不像迪士尼的 IP，那是一代人的漫长旅程。」\n尽管有非常多的不确定性，但当下无疑是 Netflix 财务状况最好的一年。这家公司在过去 10 年总共借款达 160 亿美元。去年年底，Netflix 在第四季度财报上表示，它不再需要寻求借款来为公司提供资金。换句话说，Netflix 成为了一家真正盈利的公司。\n而它的其它流媒体竞争对手，都还在亏着钱，包括迪士尼。","news_type":1,"symbols_score_info":{"QNETCN":0.9,"NFLX":0.9,"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":3534,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274464,"gmtCreate":1624972925358,"gmtModify":1703849126697,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274464","repostId":"1118894802","repostType":4,"repost":{"id":"1118894802","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624955420,"share":"https://ttm.financial/m/news/1118894802?lang=en_US&edition=fundamental","pubTime":"2021-06-29 16:30","market":"sh","language":"zh","title":"Market Overview: The throne of \"one brother\" in Shenzhen changed hands! Haidilao \"boils\" against the trend","url":"https://stock-news.laohu8.com/highlight/detail?id=1118894802","media":"老虎资讯综合","summary":"港股\n港股三大指数全日呈单边下跌行情，市场整体情绪表现平淡。截至收盘，恒指跌0.94%报28994点，国指跌0.98%报10757点，恒生科技指数跌0.91%报8201点。\n\n盘面上，石油板块跌幅居前","content":"<p><b>Hong Kong stock</b></p><p>The three major indices of Hong Kong stocks showed a unilateral decline throughout the day, and the overall market sentiment was flat. As of the close, the Hang Seng Index fell 0.94% to 28,994 points, the H-Share Index fell 0.98% to 10,757 points, and the Hang Seng Technology Index fell 0.91% to 8,201 points.</p><p><img src=\"https://static.tigerbbs.com/c7f0b8ac73315eee841216419d34c674\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>On the disk, the oil sector was among the top losers, and all three barrels of oil plunged, dragging down the market; Recently, strong biomedical stocks and port shipping stocks have been corrected across the board, financial stocks (insurance, securities firms, banks) have performed sluggishly, and energy stocks such as home appliance stocks, aviation stocks, medical beauty stocks, gas stocks, defense stocks, gambling stocks and coal have generally fallen; Big tech stocks are mixed,<a href=\"https://laohu8.com/S/09999\">Netease-S</a>Against the trend, it rose by 3.6%,<a href=\"https://laohu8.com/S/09618\">JD Group-SW</a>、<a href=\"https://laohu8.com/S/09888\">Baidu Group-SW</a>Closed higher,<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/09988\">Alibaba-SW</a>、<a href=\"https://laohu8.com/S/03690\">Meituan-W</a>Both fell; Catering stocks rebounded sharply,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>A surge of nearly 9%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>up 4.5%; Photovoltaic stocks are strong, property management stocks continue to rise,<a href=\"https://laohu8.com/S/00873\">Shimao Services</a>Many shares continued to hit new high prices. The turnover of the market was HK$146.1 billion, and the net inflow of southbound funds was HK$963 million against the trend.</p><p><b>A Shares</b></p><p>The three major indexes were corrected, and the Shanghai Composite Index was weakly consolidated above the 30th line, closing down 0.92% to 3,573 points throughout the day, the Shenzhen Component Index fell 0.99% to 14,999 points, and the GEM Index fell 0.19% to 3,406 points. More than 3,100 shares in the two cities fell, and the market sentiment and profit-making effect dropped significantly. After seven trading days, the turnover returned to below one trillion yuan again, reaching 997.4 billion yuan, and the northbound capital sold 3.14 billion yuan in the whole day.</p><p><img src=\"https://static.tigerbbs.com/55bf301fcd48fb59b0f70e721046a291\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The concept performance was sluggish, and concept stocks such as military industry, finance, liquor, chips and 5G generally fell; Most funds flow to the concept of photovoltaics,<a href=\"https://laohu8.com/S/300118\">Oriental Sunrise</a>Wait for the daily limit of ten stocks,<a href=\"https://laohu8.com/S/601012\">LONGi</a>Up more than 3%; Silicone concept was strong throughout the day,<a href=\"https://laohu8.com/S/603260\">Hopson Silicon</a>The daily limit reached a new high; Concepts such as HIT battery, lithium extraction from salt lake, infants and children, and online travel were active, and most textile and apparel stocks rose.</p><p><a href=\"https://laohu8.com/S/300750\">CATL</a>The stock price hit another record high, rising nearly 3% as of the close, and the latest market value was 1,184.3 billion yuan, surpassing<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>Become the \"first brother\" of Shenzhen.</p><p><img src=\"https://static.tigerbbs.com/93d3ce21ca8d59215a3c2e1be2a9f337\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>U.S. stocks</b></p><p>The three major stock index futures in the United States were mixed. As of press time, the Dow futures rose by 0.17%; Nasdaq 100 futures fell 0.24%; S&P 500 futures fell 0.02%.</p><p><img src=\"https://static.tigerbbs.com/83895d64ec668d72dcb5edf73dbeff5d\" tg-width=\"478\" tg-height=\"182\" referrerpolicy=\"no-referrer\"></p><p>Morgan Stanley rose more than 2% premarket, doubling its quarterly Dividend to 70 cents, and will buy back up to $12 billion of shares.</p><p><img src=\"https://static.tigerbbs.com/72c436e1b865ee4e1d224f056bfd31ee\" tg-width=\"1302\" tg-height=\"833\"></p><p><b>European shares</b></p><p>Major European indexes rose across the board. As of press time, Germany's DAX index rose 0.57%,<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index rose 0.33%, the French CAC40 rose 0.35% and the European Stoxx 50 rose 0.37%.</p><p><img src=\"https://static.tigerbbs.com/2b257919c3a4379a1b3848f144a0a925\" tg-width=\"820\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><b>crude oil</b></p><p>International oil prices fell slightly. As of press time, WTI crude oil was reported at $72.79/barrel, down 0.16%; Brent oil is now traded at $74.55/barrel, down 0.17%.</p><p>International oil prices have been weighed down by concerns about slowing growth in fuel demand as a new outbreak of the highly contagious Covid variant Delta has triggered new movement restrictions across the globe. However, U.S. shale oil producers still stick to the promise of suspending the expansion, which is different from the practice of previous waves of boom cycle, which is positive for the oil market.</p><p><img src=\"https://static.tigerbbs.com/2317c0df6a343fd5277e3356ad5ee5b4\" tg-width=\"822\" tg-height=\"833\"><img src=\"https://static.tigerbbs.com/e4c741ddb202c84a0df34706caf5f957\" tg-width=\"822\" tg-height=\"833\"></p><p><b>Gold</b></p><p>International gold fell slightly, falling 0.72% during the day to $1,767.8/oz.</p><p>The international gold price has continued to fluctuate sideways in a narrow range for more than a week, and investors' fears that the Federal Reserve will tighten monetary policy sooner than expected have weakened the attractiveness of gold. Gold remains technically bearish, with the underlying support looking towards $1748. But the US Dollar Index has hovered below the 92 integer mark over the past week, limiting the gold's downside.</p><p><img src=\"https://static.tigerbbs.com/7e5ed09a2cb81ab881444e6e45deed9d\" tg-width=\"822\" tg-height=\"833\"></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>Market Overview: The throne of \"one brother\" in Shenzhen changed hands! Haidilao \"boils\" against the trend</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\">\nMarket Overview: The throne of \"one brother\" in Shenzhen changed hands! Haidilao \"boils\" against the trend\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-29 16:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Hong Kong stock</b></p><p>The three major indices of Hong Kong stocks showed a unilateral decline throughout the day, and the overall market sentiment was flat. As of the close, the Hang Seng Index fell 0.94% to 28,994 points, the H-Share Index fell 0.98% to 10,757 points, and the Hang Seng Technology Index fell 0.91% to 8,201 points.</p><p><img src=\"https://static.tigerbbs.com/c7f0b8ac73315eee841216419d34c674\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>On the disk, the oil sector was among the top losers, and all three barrels of oil plunged, dragging down the market; Recently, strong biomedical stocks and port shipping stocks have been corrected across the board, financial stocks (insurance, securities firms, banks) have performed sluggishly, and energy stocks such as home appliance stocks, aviation stocks, medical beauty stocks, gas stocks, defense stocks, gambling stocks and coal have generally fallen; Big tech stocks are mixed,<a href=\"https://laohu8.com/S/09999\">Netease-S</a>Against the trend, it rose by 3.6%,<a href=\"https://laohu8.com/S/09618\">JD Group-SW</a>、<a href=\"https://laohu8.com/S/09888\">Baidu Group-SW</a>Closed higher,<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/09988\">Alibaba-SW</a>、<a href=\"https://laohu8.com/S/03690\">Meituan-W</a>Both fell; Catering stocks rebounded sharply,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>A surge of nearly 9%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>up 4.5%; Photovoltaic stocks are strong, property management stocks continue to rise,<a href=\"https://laohu8.com/S/00873\">Shimao Services</a>Many shares continued to hit new high prices. The turnover of the market was HK$146.1 billion, and the net inflow of southbound funds was HK$963 million against the trend.</p><p><b>A Shares</b></p><p>The three major indexes were corrected, and the Shanghai Composite Index was weakly consolidated above the 30th line, closing down 0.92% to 3,573 points throughout the day, the Shenzhen Component Index fell 0.99% to 14,999 points, and the GEM Index fell 0.19% to 3,406 points. More than 3,100 shares in the two cities fell, and the market sentiment and profit-making effect dropped significantly. After seven trading days, the turnover returned to below one trillion yuan again, reaching 997.4 billion yuan, and the northbound capital sold 3.14 billion yuan in the whole day.</p><p><img src=\"https://static.tigerbbs.com/55bf301fcd48fb59b0f70e721046a291\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The concept performance was sluggish, and concept stocks such as military industry, finance, liquor, chips and 5G generally fell; Most funds flow to the concept of photovoltaics,<a href=\"https://laohu8.com/S/300118\">Oriental Sunrise</a>Wait for the daily limit of ten stocks,<a href=\"https://laohu8.com/S/601012\">LONGi</a>Up more than 3%; Silicone concept was strong throughout the day,<a href=\"https://laohu8.com/S/603260\">Hopson Silicon</a>The daily limit reached a new high; Concepts such as HIT battery, lithium extraction from salt lake, infants and children, and online travel were active, and most textile and apparel stocks rose.</p><p><a href=\"https://laohu8.com/S/300750\">CATL</a>The stock price hit another record high, rising nearly 3% as of the close, and the latest market value was 1,184.3 billion yuan, surpassing<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>Become the \"first brother\" of Shenzhen.</p><p><img src=\"https://static.tigerbbs.com/93d3ce21ca8d59215a3c2e1be2a9f337\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>U.S. stocks</b></p><p>The three major stock index futures in the United States were mixed. As of press time, the Dow futures rose by 0.17%; Nasdaq 100 futures fell 0.24%; S&P 500 futures fell 0.02%.</p><p><img src=\"https://static.tigerbbs.com/83895d64ec668d72dcb5edf73dbeff5d\" tg-width=\"478\" tg-height=\"182\" referrerpolicy=\"no-referrer\"></p><p>Morgan Stanley rose more than 2% premarket, doubling its quarterly Dividend to 70 cents, and will buy back up to $12 billion of shares.</p><p><img src=\"https://static.tigerbbs.com/72c436e1b865ee4e1d224f056bfd31ee\" tg-width=\"1302\" tg-height=\"833\"></p><p><b>European shares</b></p><p>Major European indexes rose across the board. As of press time, Germany's DAX index rose 0.57%,<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index rose 0.33%, the French CAC40 rose 0.35% and the European Stoxx 50 rose 0.37%.</p><p><img src=\"https://static.tigerbbs.com/2b257919c3a4379a1b3848f144a0a925\" tg-width=\"820\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><b>crude oil</b></p><p>International oil prices fell slightly. As of press time, WTI crude oil was reported at $72.79/barrel, down 0.16%; Brent oil is now traded at $74.55/barrel, down 0.17%.</p><p>International oil prices have been weighed down by concerns about slowing growth in fuel demand as a new outbreak of the highly contagious Covid variant Delta has triggered new movement restrictions across the globe. However, U.S. shale oil producers still stick to the promise of suspending the expansion, which is different from the practice of previous waves of boom cycle, which is positive for the oil market.</p><p><img src=\"https://static.tigerbbs.com/2317c0df6a343fd5277e3356ad5ee5b4\" tg-width=\"822\" tg-height=\"833\"><img src=\"https://static.tigerbbs.com/e4c741ddb202c84a0df34706caf5f957\" tg-width=\"822\" tg-height=\"833\"></p><p><b>Gold</b></p><p>International gold fell slightly, falling 0.72% during the day to $1,767.8/oz.</p><p>The international gold price has continued to fluctuate sideways in a narrow range for more than a week, and investors' fears that the Federal Reserve will tighten monetary policy sooner than expected have weakened the attractiveness of gold. Gold remains technically bearish, with the underlying support looking towards $1748. But the US Dollar Index has hovered below the 92 integer mark over the past week, limiting the gold's downside.</p><p><img src=\"https://static.tigerbbs.com/7e5ed09a2cb81ab881444e6e45deed9d\" tg-width=\"822\" tg-height=\"833\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"300750":"宁德时代","399001":"深证成指","399006":"创业板指",".SPX":"S&P 500 Index","HSCCI":"红筹指数",".DJI":"道琼斯","HSTECH":"恒生科技指数","HSCEI":"国企指数",".IXIC":"NASDAQ Composite","000001.SH":"上证指数","HSI":"恒生指数","06862":"海底捞"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118894802","content_text":"港股\n港股三大指数全日呈单边下跌行情，市场整体情绪表现平淡。截至收盘，恒指跌0.94%报28994点，国指跌0.98%报10757点，恒生科技指数跌0.91%报8201点。\n\n盘面上，石油板块跌幅居前，三桶油皆重挫拖累大市走低；近期强势的生物医药股、港口航运股全线回调，金融股(保险、券商、银行)表现低迷，家电股、航空股、医美股、燃气股、军工股、濠赌股、煤炭等能源股普遍下跌；大型科技股涨跌不一，网易-S逆势大涨3.6%，京东集团-SW、百度集团-SW收涨，腾讯、阿里巴巴-SW、美团-W均下跌；餐饮股大幅反弹，海底捞大涨近9%，呷哺呷哺涨4.5%；光伏股强势，物管股继续上扬，世茂服务等多股续创新高价。大市成交额为1461亿港元，南下资金逆势净流入9.63亿港元。\nA股\n三大指数回调，沪指在30日线上方弱势整理，全天收跌0.92%报3573点，深成指跌0.99%报14999点，创业板指跌0.19%报3406点。两市3100余股下跌，市场情绪及赚钱效应明显回落，成交额时隔七个交易日再次回至万亿下方，为9974亿，北上资金全天净卖出31.4亿。\n\n题材概念表现低迷，军工、金融、白酒、芯片、5G等概念股普遍下跌；资金多数流向光伏概念，东方日升等十股涨停，隆基股份涨逾3%；有机硅概念全天强势，合盛硅业涨停创新高；HIT电池、盐湖提锂、婴童、在线旅游等概念活跃，纺织服饰股多数上涨。\n宁德时代股价再创历史新高，截至收盘，涨近3%，最新市值11843亿元，超越五粮液成为深市“一哥”。\n\n美股\n美国三大股指期货涨跌不一，截至发稿，道指期货涨0.17%；纳斯达克100指数期货跌0.24%；标普500指数期货跌0.02%。\n\n摩根士丹利盘前涨超2%，摩根士丹利将季度股息翻倍至70美分，将回购最高120亿美元股票。\n\n欧股\n欧洲主要指数全线上涨，截止发稿，德国DAX指数涨0.57%，英国富时100指数涨0.33%，法国CAC40指数涨0.35%，欧洲斯托克50指数涨0.37%。\n\n原油\n国际油价小幅下跌，截止发稿，WTI原油报72.79美元/桶，跌0.16%；布油现报74.55美元/桶，跌0.17%。\n国际油价受到对燃料需求增长放缓的担忧拖累，因为高传染性新冠变种病毒Delta的新疫情在全球引发了新的行动限制。不过美国页岩油生产商仍坚守暂停扩大指出的承诺，有异于先前几波景气循环荣景时的做法，对油市构成利好。\n\n黄金\n国际黄金小幅走低，日内跌0.72%，报1767.8美元/盎司。\n国际金价延续逾一周的横盘窄幅震荡态势，投资者对美联储将比预期更早收紧货币政策的担忧削弱了黄金的吸引力。技术上看金价仍看跌，下方支撑看向1748美元。但美元指数过去一周徘徊在92整数关口下方，限制了黄金下行空间。","news_type":1,"symbols_score_info":{"300750":0.9,"399001":0.9,"399006":0.9,"06862":0.9,"HSTECH":0.9,"000001.SH":0.9,"HSCCI":0.9,"HSCEI":0.9,"HSI":0.9,".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274834,"gmtCreate":1624972910628,"gmtModify":1703849125887,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572785300913507","authorIdStr":"3572785300913507"},"themes":[],"title":"","htmlText":"&nbsp;?","listText":"&nbsp;?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274834","repostId":"1188452851","repostType":4,"repost":{"id":"1188452851","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624960188,"share":"https://ttm.financial/m/news/1188452851?lang=en_US&edition=fundamental","pubTime":"2021-06-29 17:49","market":"sh","language":"zh","title":"61 daily limit, what \"demon wind\" is blown by the most cattle ST stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=1188452851","media":"华尔街见闻","summary":"如果问今年最妖的股是哪只，那一定非*ST众泰莫属。\n今年以来，*ST众泰在100多个交易日狂拉61个涨停，成为A股涨停王，股价也从年初的1.34元飙升至目前的7.5元，足足涨了460%，股价翻了5倍！","content":"<p>If you ask which is the most demon stock this year, it must not be<a href=\"https://laohu8.com/S/000980\">*ST Zotye</a>No one else.</p><p>Since the beginning of this year, *ST Zotye has pulled 61 daily limits in more than 100 trading days, becoming<b>A-share daily limit king</b>The stock price has also soared from 1.34 yuan at the beginning of the year to 7.5 yuan at present, up 460%, and the stock price has doubled five times!</p><p>If calculated according to the highest increase, *ST Zotye's<b>The cumulative increase is as high as 628%, more than 6 times!</b></p><p><img src=\"https://static.tigerbbs.com/83019cb4d2e69da5e15ccb2c837e3f24\" tg-width=\"840\" tg-height=\"470\"></p><p>During this period, the company repeatedly issued announcements of stock price changes and indicative announcements that stocks may be subject to delisting risk warnings, and after three suspension verifications, it failed to prevent the stock price from \"riding the dust\".</p><p>According to<a href=\"https://laohu8.com/S/300033\">Flush</a>According to statistics, since January 11th as of June 24th, *ST Zotye has been on the Dragon and Tiger List of the exchange 23 times, attracting a lot of hot money to participate in speculation.</p><p>According to the data of Choice Dragon and Tiger List, as of June 24th, *ST Zotye has purchased the top five business departments with the largest amount in three consecutive trading days, which are all known as \"retail base camps\"<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>Securities Lhasa Sales Department.</p><p><img src=\"https://static.tigerbbs.com/46071fe71f43e7f8af7638a92f29ea34\" tg-width=\"1080\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p>It is worth noting that,<b>Due to continuous losses, *ST Zotye is at risk of being terminated from listing. After tens of billions of losses in 2019 that shocked the auto industry</b>, *ST Zotye 2020<b>Another loss of 10.801 billion yuan</b>As of the end of 2020, the company's net assets were-4.423 billion yuan. According to the regulations, the company's audited net assets in 2020 are negative, and the company's shares continue to be treated with \"delisting risk warning\".</p><p><b>01. Restructuring expectations cause *ST Zotye to soar</b></p><p>Throughout the hype history of *ST Zotye, it has always been inseparable from the \"restructuring expectation\".</p><p>On the evening of January 11th this year, *ST Zotye issued the Announcement on the Progress of Public Recruitment of Investors, saying that on December 25th and December 28th, 2020, the pre-reorganization manager signed the Confidentiality Agreement with one intended investor and the Confidentiality Agreement and the Intent Agreement with another intended investor respectively.</p><p><b>Since then</b>，<b>*ST Zotye's share price began to \"rise and rise\".</b></p><p>The two intended investors have paid the corresponding confidentiality deposit and intention deposit, and started to carry out specific due diligence work after paying the deposit. As the saying goes, \"stock speculation is expected\", and the expectation of \"someone taking over and reorganizing\" has become the core driving force for *ST Zotye's continuous rise.<img src=\"https://static.tigerbbs.com/d01c30a1357f4ca66327ea763408b69c\" tg-width=\"613\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>In this regard,<b>The market once rumored that investors may be<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Millet,<a href=\"https://laohu8.com/S/NIO\">Nio</a>And one of Baoneng, among which Baoneng was once \"hammered\" by the official news.</b></p><p>But later, *ST Zotye emphasized that Tesla, Xiaomi, Nio and Baoneng were not pre-restructuring investors of the company.</p><p>According to the media, official website of Linyi Municipal Bureau of Commerce in Shandong Province has announced that the cooperation project between Baoneng Automobile Group Co., Ltd., a subsidiary of Baoneng Group, and Linyi Zotye has entered the stage of substantive negotiation.</p><p>However, Baoneng Automobile denied the above statement to many media, and subsequently, Linyi Municipal Bureau of Commerce also revoked the release.</p><p><b>02. Zhibo Investment terminated the investment company, and the first and second largest tradable shareholders both \"ran away\"</b></p><p>After pulling 61 daily limits,<b>A major negative thunderbolt from the blue may become the straw that crushes *ST Zotye.</b></p><p>On the evening of June 25th, Zotye Automobile announced that according to the relevant agreement of the Confidentiality Agreement signed by the intended investor Zhibo Investment and the company in December 2020, Zhibo Investment decided to terminate its investment in the company.</p><p><img src=\"https://static.tigerbbs.com/5d029f53c2c47afc85afae9ea489f8f0\" tg-width=\"682\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the announcement also suggested that the company's stock may face the risk of termination of listing. If the company successfully implements the reorganization and completes the reorganization plan, it will help to optimize the asset and liability structure of the company and enhance the company's sustainable operation and profitability. If the reorganization fails, the company will be at risk of being declared bankrupt.</p><p>On Monday, June 28th, *ST Zotye opened with a drop limit, with more than 480,000 closed orders and more than 350 million yuan.</p><p><b>Some analysts have sorted out the dynamic timeline of *ST Zotye's intended investors. In fact, things can be traced back to December last year.</b></p><p>On 25 December 2020, *ST Zotye disclosed for the first time that Shanghai Zhiyang signed the Confidentiality Agreement and the Intent Agreement with the pre-reorganization manager, and paid the corresponding confidentiality deposit and intention deposit. On 28 December 2020, Hunan Zhibo signed the Confidentiality Agreement with the Pre-Reorganization Manager and paid the corresponding confidentiality deposit.</p><p><img src=\"https://static.tigerbbs.com/f3948a0dfa5378ccb2f70cea501d90ce\" tg-width=\"656\" tg-height=\"276\" referrerpolicy=\"no-referrer\"></p><p><b>According to the announcement of *ST Zotye on April 7th, there are currently two intended investors in the company</b>One is Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as \"Shanghai Zhiyang\"), and the other is Hunan Zhibo Equity Investment Fund Management Co., Ltd. (hereinafter referred to as \"Hunan Zhibo\"). According to the investigation, these two companies are private equity fund managers with registered capitals of 50 million yuan and 10 million yuan respectively, and neither of them has a related background in the automobile industry chain.</p><p><b>In May, however, things took another turn</b>。 On the evening of May 12th, *ST Zotye, which has entered the pre-reorganization stage, announced that the company received a letter from Shanghai Zhiyang Investment Co., Ltd. handed over by the company's pre-reorganization manager on May 12th, 2021: \"Based on the company's evaluation of the due diligence results of Zotye Automobile Co., Ltd. (hereinafter referred to as Zotye Automobile) and the recent change of Zotye Automobile's share price, which seriously deviated from its fundamentals, the company decided to suspend the investment in Zotye Automobile due to investment prudence.\"</p><p><b>Now, Zhibo Investment has chosen to terminate its investment in Zotye Automobile, and another intended investor, Shanghai Zhiyang, has also announced the suspension of investment. There is great uncertainty about whether it will finally decide to restructure Zotye Automobile</b>。</p><p>What never comes alone is that, except for the termination of investment by institutions,<b>Even *ST Zotye's \"own family\" played a big reduction</b>。</p><p>On May 24th and May 27th, *ST Zotye respectively issued two pre-disclosure announcements on shareholders holding more than 5% of the shares to reduce the company's shares. First of all, Great Wall (Deyang) Changfu Investment Fund Partnership, a shareholder holding 7.03% of the shares, plans to reduce the company's shares by centralized bidding or block trading by no more than 2.03% of the company's total share capital; Secondly, Wuhan Tianfeng Zhixin Investment Center (Limited Partnership), a 5.84% shareholder, plans to use centralized bidding or block transactions<b>\"Clearance\" reduction</b>。</p><p>Wind data shows that the company's first quarterly report shows that Great Wall Changfu and Tianfeng Zhixin are the company's first and second largest tradable shareholders respectively.</p><p>Economic Daily News believes that,<b>The two major shareholders suddenly made such a move when the stock price was at a high level. Besides gaining profits, the loss of confidence in the future of *ST Zotye can also be clearly felt</b>。</p><p>Next, *ST Zotye, which is \"all four empty\" and \"rumbling\", will continue to hit the limit for several consecutive times, or will it continue to be speculated by funds to reach a new high?</p><p><b>03. The core value lies in the license plate, but the \"knockoff Porsche\" can't bear it</b></p><p>For the connecting board of *ST Zotye,<b>The entry of new car-making forces may be one of the catalysts</b>。</p><p>Recently, giants such as Xiaomi, Huawei and Didi have successively launched car-building plans, and the qualification of new forces to build cars is a car-building qualification.<b>However, up to now, the National Development and Reform Commission has stopped issuing new energy vehicle production qualification</b>。</p><p><b>And Zotye has the production qualification of new energy passenger vehicles and commercial vehicles</b>。 According to the data, Zotye is one of the earliest car companies to enter the new energy automobile industry in China, and it is also the first invention patent in the field of pure electric vehicles in China, and the first enterprise to obtain the production and sales license of pure electric passenger vehicles.</p><p>Nevertheless,<b>But Zotye's rapid expansion by imitating luxury cars has surprised people</b>。 In 2016, the company introduced the Zotye SR9, which looks like a Porsche Macan, and is dubbed \"Porsche\". In addition, due to frequent quality problems, the sales of Zotye automobiles have declined rapidly in recent years.</p><p><img src=\"https://static.tigerbbs.com/aeb2f12b758335d213c513448b74d590\" tg-width=\"503\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>Such a cottage painting style, coupled with worrying quality problems, even if there is a license plate so what? In the end, it is difficult to convince investors and partners.</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>61 daily limit, what \"demon wind\" is blown by the most cattle ST stocks?</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; 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}\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\">\n61 daily limit, what \"demon wind\" is blown by the most cattle ST stocks?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-29 17:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>If you ask which is the most demon stock this year, it must not be<a href=\"https://laohu8.com/S/000980\">*ST Zotye</a>No one else.</p><p>Since the beginning of this year, *ST Zotye has pulled 61 daily limits in more than 100 trading days, becoming<b>A-share daily limit king</b>The stock price has also soared from 1.34 yuan at the beginning of the year to 7.5 yuan at present, up 460%, and the stock price has doubled five times!</p><p>If calculated according to the highest increase, *ST Zotye's<b>The cumulative increase is as high as 628%, more than 6 times!</b></p><p><img src=\"https://static.tigerbbs.com/83019cb4d2e69da5e15ccb2c837e3f24\" tg-width=\"840\" tg-height=\"470\"></p><p>During this period, the company repeatedly issued announcements of stock price changes and indicative announcements that stocks may be subject to delisting risk warnings, and after three suspension verifications, it failed to prevent the stock price from \"riding the dust\".</p><p>According to<a href=\"https://laohu8.com/S/300033\">Flush</a>According to statistics, since January 11th as of June 24th, *ST Zotye has been on the Dragon and Tiger List of the exchange 23 times, attracting a lot of hot money to participate in speculation.</p><p>According to the data of Choice Dragon and Tiger List, as of June 24th, *ST Zotye has purchased the top five business departments with the largest amount in three consecutive trading days, which are all known as \"retail base camps\"<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>Securities Lhasa Sales Department.</p><p><img src=\"https://static.tigerbbs.com/46071fe71f43e7f8af7638a92f29ea34\" tg-width=\"1080\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p>It is worth noting that,<b>Due to continuous losses, *ST Zotye is at risk of being terminated from listing. After tens of billions of losses in 2019 that shocked the auto industry</b>, *ST Zotye 2020<b>Another loss of 10.801 billion yuan</b>As of the end of 2020, the company's net assets were-4.423 billion yuan. According to the regulations, the company's audited net assets in 2020 are negative, and the company's shares continue to be treated with \"delisting risk warning\".</p><p><b>01. Restructuring expectations cause *ST Zotye to soar</b></p><p>Throughout the hype history of *ST Zotye, it has always been inseparable from the \"restructuring expectation\".</p><p>On the evening of January 11th this year, *ST Zotye issued the Announcement on the Progress of Public Recruitment of Investors, saying that on December 25th and December 28th, 2020, the pre-reorganization manager signed the Confidentiality Agreement with one intended investor and the Confidentiality Agreement and the Intent Agreement with another intended investor respectively.</p><p><b>Since then</b>，<b>*ST Zotye's share price began to \"rise and rise\".</b></p><p>The two intended investors have paid the corresponding confidentiality deposit and intention deposit, and started to carry out specific due diligence work after paying the deposit. As the saying goes, \"stock speculation is expected\", and the expectation of \"someone taking over and reorganizing\" has become the core driving force for *ST Zotye's continuous rise.<img src=\"https://static.tigerbbs.com/d01c30a1357f4ca66327ea763408b69c\" tg-width=\"613\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>In this regard,<b>The market once rumored that investors may be<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Millet,<a href=\"https://laohu8.com/S/NIO\">Nio</a>And one of Baoneng, among which Baoneng was once \"hammered\" by the official news.</b></p><p>But later, *ST Zotye emphasized that Tesla, Xiaomi, Nio and Baoneng were not pre-restructuring investors of the company.</p><p>According to the media, official website of Linyi Municipal Bureau of Commerce in Shandong Province has announced that the cooperation project between Baoneng Automobile Group Co., Ltd., a subsidiary of Baoneng Group, and Linyi Zotye has entered the stage of substantive negotiation.</p><p>However, Baoneng Automobile denied the above statement to many media, and subsequently, Linyi Municipal Bureau of Commerce also revoked the release.</p><p><b>02. Zhibo Investment terminated the investment company, and the first and second largest tradable shareholders both \"ran away\"</b></p><p>After pulling 61 daily limits,<b>A major negative thunderbolt from the blue may become the straw that crushes *ST Zotye.</b></p><p>On the evening of June 25th, Zotye Automobile announced that according to the relevant agreement of the Confidentiality Agreement signed by the intended investor Zhibo Investment and the company in December 2020, Zhibo Investment decided to terminate its investment in the company.</p><p><img src=\"https://static.tigerbbs.com/5d029f53c2c47afc85afae9ea489f8f0\" tg-width=\"682\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the announcement also suggested that the company's stock may face the risk of termination of listing. If the company successfully implements the reorganization and completes the reorganization plan, it will help to optimize the asset and liability structure of the company and enhance the company's sustainable operation and profitability. If the reorganization fails, the company will be at risk of being declared bankrupt.</p><p>On Monday, June 28th, *ST Zotye opened with a drop limit, with more than 480,000 closed orders and more than 350 million yuan.</p><p><b>Some analysts have sorted out the dynamic timeline of *ST Zotye's intended investors. In fact, things can be traced back to December last year.</b></p><p>On 25 December 2020, *ST Zotye disclosed for the first time that Shanghai Zhiyang signed the Confidentiality Agreement and the Intent Agreement with the pre-reorganization manager, and paid the corresponding confidentiality deposit and intention deposit. On 28 December 2020, Hunan Zhibo signed the Confidentiality Agreement with the Pre-Reorganization Manager and paid the corresponding confidentiality deposit.</p><p><img src=\"https://static.tigerbbs.com/f3948a0dfa5378ccb2f70cea501d90ce\" tg-width=\"656\" tg-height=\"276\" referrerpolicy=\"no-referrer\"></p><p><b>According to the announcement of *ST Zotye on April 7th, there are currently two intended investors in the company</b>One is Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as \"Shanghai Zhiyang\"), and the other is Hunan Zhibo Equity Investment Fund Management Co., Ltd. (hereinafter referred to as \"Hunan Zhibo\"). According to the investigation, these two companies are private equity fund managers with registered capitals of 50 million yuan and 10 million yuan respectively, and neither of them has a related background in the automobile industry chain.</p><p><b>In May, however, things took another turn</b>。 On the evening of May 12th, *ST Zotye, which has entered the pre-reorganization stage, announced that the company received a letter from Shanghai Zhiyang Investment Co., Ltd. handed over by the company's pre-reorganization manager on May 12th, 2021: \"Based on the company's evaluation of the due diligence results of Zotye Automobile Co., Ltd. (hereinafter referred to as Zotye Automobile) and the recent change of Zotye Automobile's share price, which seriously deviated from its fundamentals, the company decided to suspend the investment in Zotye Automobile due to investment prudence.\"</p><p><b>Now, Zhibo Investment has chosen to terminate its investment in Zotye Automobile, and another intended investor, Shanghai Zhiyang, has also announced the suspension of investment. There is great uncertainty about whether it will finally decide to restructure Zotye Automobile</b>。</p><p>What never comes alone is that, except for the termination of investment by institutions,<b>Even *ST Zotye's \"own family\" played a big reduction</b>。</p><p>On May 24th and May 27th, *ST Zotye respectively issued two pre-disclosure announcements on shareholders holding more than 5% of the shares to reduce the company's shares. First of all, Great Wall (Deyang) Changfu Investment Fund Partnership, a shareholder holding 7.03% of the shares, plans to reduce the company's shares by centralized bidding or block trading by no more than 2.03% of the company's total share capital; Secondly, Wuhan Tianfeng Zhixin Investment Center (Limited Partnership), a 5.84% shareholder, plans to use centralized bidding or block transactions<b>\"Clearance\" reduction</b>。</p><p>Wind data shows that the company's first quarterly report shows that Great Wall Changfu and Tianfeng Zhixin are the company's first and second largest tradable shareholders respectively.</p><p>Economic Daily News believes that,<b>The two major shareholders suddenly made such a move when the stock price was at a high level. Besides gaining profits, the loss of confidence in the future of *ST Zotye can also be clearly felt</b>。</p><p>Next, *ST Zotye, which is \"all four empty\" and \"rumbling\", will continue to hit the limit for several consecutive times, or will it continue to be speculated by funds to reach a new high?</p><p><b>03. The core value lies in the license plate, but the \"knockoff Porsche\" can't bear it</b></p><p>For the connecting board of *ST Zotye,<b>The entry of new car-making forces may be one of the catalysts</b>。</p><p>Recently, giants such as Xiaomi, Huawei and Didi have successively launched car-building plans, and the qualification of new forces to build cars is a car-building qualification.<b>However, up to now, the National Development and Reform Commission has stopped issuing new energy vehicle production qualification</b>。</p><p><b>And Zotye has the production qualification of new energy passenger vehicles and commercial vehicles</b>。 According to the data, Zotye is one of the earliest car companies to enter the new energy automobile industry in China, and it is also the first invention patent in the field of pure electric vehicles in China, and the first enterprise to obtain the production and sales license of pure electric passenger vehicles.</p><p>Nevertheless,<b>But Zotye's rapid expansion by imitating luxury cars has surprised people</b>。 In 2016, the company introduced the Zotye SR9, which looks like a Porsche Macan, and is dubbed \"Porsche\". In addition, due to frequent quality problems, the sales of Zotye automobiles have declined rapidly in recent years.</p><p><img src=\"https://static.tigerbbs.com/aeb2f12b758335d213c513448b74d590\" tg-width=\"503\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>Such a cottage painting style, coupled with worrying quality problems, even if there is a license plate so what? In the end, it is difficult to convince investors and partners.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b8ea9e4b472cd3f7c83196f81fbd8882","relate_stocks":{"000980":"众泰汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188452851","content_text":"如果问今年最妖的股是哪只，那一定非*ST众泰莫属。\n今年以来，*ST众泰在100多个交易日狂拉61个涨停，成为A股涨停王，股价也从年初的1.34元飙升至目前的7.5元，足足涨了460%，股价翻了5倍！\n如果按照最高涨幅计算，*ST众泰年内的累计涨幅更是高达628%，超过6倍！\n\n期间公司多次发布股价异动公告及股票可能被实施退市风险警示的提示性公告，并历经3次停牌核查，也未能阻止股价“一骑绝尘”。\n据同花顺统计，自1月11日以来截至6月24日，*ST众泰登上交易所龙虎榜的次数高达23次，吸引了诸多游资参与炒作。\nChoice龙虎榜数据显示，截至6月24日，*ST众泰连续三个交易日内，买入金额最大的前5名营业部均为被称为“散户大本营”的东方财富证券拉萨营业部。\n\n值得注意的是，由于连续亏损，*ST众泰存在被终止上市的风险。在继2019年出现震惊汽车行业的百亿亏损后，*ST众泰2020年再度亏损108.01亿元，截至2020年末，公司净资产为-44.23亿元。根据规定，公司2020年度经审计后的净资产为负值，公司股票继续被实施“退市风险警示”处理。\n01、重组预期致*ST众泰暴涨\n纵观*ST众泰的炒作历史，则一向与“重组预期”脱不开干系。\n今年1月11日晚间，*ST众泰发布《关于公开招募投资人的进展公告》称，2020年12月25日、12月28日，预重整管理人分别与一家意向投资人签署了《保密协议》，与另一家意向投资人签署了《保密协议》和《意向协议书》。\n自此以后，*ST众泰的股价便开始“涨涨不休”。\n两家意向投资人已缴纳相应的保密保证金和意向保证金，并着手在缴纳保证金后开展具体的尽职调查工作。正所谓“炒股炒的是预期”，“有人接盘重整”的预期成为之后*ST众泰不断上涨的核心驱动力。\n对此，市场一度传言投资方可能为特斯拉、小米、蔚来和宝能的其中之一，其中宝能还一度被官方消息“实锤”。\n但后来，*ST众泰又强调称，特斯拉、小米、蔚来和宝能均不是公司预重整投资人。\n据媒体了解，山东临沂市商务局官网曾发布消息称，宝能集团旗下宝能汽车集团有限公司与临沂众泰合作项目已进入实质性洽谈阶段。\n不过，宝能汽车对多家媒体否认了上述说法，随后，临沂市商务局也撤销了该发布内容。\n02、致博投资终止投资公司，第一、二大流通股东双双“跑路”\n在狂拉61个涨停后，一则重大利空晴天霹雳一般，或许成为压垮*ST众泰连板的稻草。\n6月25日晚间，众泰汽车发布公告称，根据意向投资人致博投资与公司2020年12月签署的《保密协议书》的相关约定，致博投资决定终止投资本公司。\n\n同时，公告还提示，公司股票可能面临终止上市的风险。如果公司顺利实施重整并执行完毕重整计划，将有利于优化公司资产负债结构，提升公司的持续经营及盈利能力。若重整失败，公司将存在被宣告破产的风险。\n6月28日周一，*ST众泰开盘一字跌停，封单超过48万手，封单金额超过3.5亿元。\n有分析人士梳理了*ST众泰意向投资者的动态时间线，其实事情可以追溯到去年12月。\n在2020年12月25日，*ST众泰首次披露，上海智阳与预重整管理人签署了《保密协议》和《意向协议书》，并缴纳了相应的保密保证金和意向保证金。2020年12月28日，湖南致博与预重整管理人签署了《保密协议》，并缴纳了相应的保密保证金。\n\n根据4月7日*ST众泰的公告，目前公司意向投资人有两家，一家是上海智阳投资有限公司(下称“上海智阳”)，另一家是湖南致博股权投资基金管理有限公司(下称“湖南致博”)。企查查显示，这两家公司均为私募基金管理人，注册资本分别为5000万元和1000万元，且均无汽车产业链相关背景。\n然而时间到了5月，事情又发生了转折。5月12日晚间，已进入预重整阶段的*ST众泰发布公告称，公司于2021年5月12日收到公司预重整管理人转交的上海智阳投资有限公司向其发出的函：“基于本公司对众泰汽车股份有限公司(下称众泰汽车)尽职调查结果的评估，以及近期众泰汽车股价异动、严重偏离其基本面，出于投资谨慎性考虑，本公司决定暂缓推进对众泰汽车的投资事宜。”\n如今，致博投资选择终止推进对众泰汽车的投资事宜，而目前另一家意向投资人上海智阳亦宣布暂缓投资，是否最终决定重组众泰汽车存在很大不确定性。\n祸不单行的是，除了有机构终止投资，就连*ST众泰的“自家人”也玩起了大减持。\n5月24日和5月27日，*ST众泰分别发布了两则关于持股5%以上股东减持公司股份的预披露公告。首先，持股7.03%的股东长城（德阳）长富投资基金合伙企业计划以集中竞价方式或大宗交易方式减持公司股份合计不超过公司总股本比例 2.03%；其次，持股5.84%的股东武汉天风智信投资中心（有限合伙）计划以集中竞价方式或大宗交易方式“清仓式”减持。\nWind数据显示，公司一季报显示，长城长富和天风智信分别为公司第一、第二大流通股东。\n每日经济新闻认为，两位大股东在股价处于高位时突然来这么一招，除了获取收益之外，对*ST众泰的未来失去信心也是可以明确感觉到的。\n接下来，“四大皆空”“风声鹤唳”的*ST众泰将会连续数跌停板，还是继续被资金炒作再创新高呢？\n03、核心价值在牌照，但“山寨保时捷”不能忍\n对于*ST众泰的连板，造车新势力的入局或许是催化之一。\n近日，小米、华为、滴滴等巨头先后启动造车计划，而新势力造车的参赛资格就是一张造车资质，但截至目前发改委已停发新能源车生产资质。\n而众泰拥有新能源乘用车和商用车的生产资质。资料显示，众泰是国内最早进入新能源汽车行业的车企之一，也上国内第一个纯电动整车领域的发明专利、第一个获得了纯电动乘用车生产销售许可证的企业。\n尽管如此，但众泰采用模仿豪车的方式迅速扩张，让人大跌眼镜。2016年，公司推出了外形酷似保时捷Macan的众泰SR9，被称为“保时泰”。此外由于质量问题频发，近年来众泰汽车销量迅速下滑。\n\n这样的山寨画风，加之以令人担忧的质量问题，即使有一张牌照又如何？最终还是难以让投资方和合作方信服。","news_type":1,"symbols_score_info":{"000980":0.9}},"isVote":1,"tweetType":1,"viewCount":3023,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}