KeithHan personal page - To The Moon

KeithHan

KeithHan

No personal profile

270Follow

11Followers

0Topic

0Badge

2021-07-16

?

Microsoft shares rose over 1%, hitting a new all-time high.

2021-07-21

? ? ?

Sorry, the original content has been removed

2021-07-09

Just

Rumors circulated that regulators had met with Xu Jiayin, but an Evergrande staff member stated that it was inconvenient to respond.

2021-05-20

? ? ?

Sorry, the original content has been removed

2021-04-26

? ? ? ?

Copper prices soared to the highest level in a decade and the non-ferrous metals sector rose

2021-02-16

$BNGO 20210219 10.0 PUT(BNGO)$ premiun safe

2021-06-28

? ? ? ?

Are we about to be eliminated by the times? The world's most powerful company suffered a huge loss of $22.4 billion

2021-05-09

? ? ? ?

Sorry, the original content has been removed

2021-04-23

? ? ? ? ? ?

Two K-12 giants have released their financial reports one after another. Which one has "TAL Education Group"?

2021-04-01

? ? ? ? ? ? ? ?

Uxin's stock price surged over 40% after the company signed investment letters of intent with two well-known funds.

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3573373078542650","uuid":"3573373078542650","gmtCreate":1610279065802,"gmtModify":1611366061327,"name":"KeithHan","pinyin":"keithhan","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":11,"headSize":270,"tweetSize":96,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-4","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Tiger Star","description":"Join the tiger community for 2000 days","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.07.04","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.08.25","exceedPercentage":"93.88%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.01.11","exceedPercentage":"93.36%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":176889236,"gmtCreate":1626876092725,"gmtModify":1703479756905,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ?&nbsp;","listText":"? ? ?&nbsp;","text":"? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/176889236","repostId":"1139863092","repostType":4,"isVote":1,"tweetType":1,"viewCount":6212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170529561,"gmtCreate":1626443248853,"gmtModify":1703760276719,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/170529561","repostId":"1169255658","repostType":4,"repost":{"id":"1169255658","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":1626443031,"share":"https://ttm.financial/m/news/1169255658?lang=en_US&edition=fundamental","pubTime":"2021-07-16 21:43","market":"us","language":"zh","title":"Microsoft shares rose over 1%, hitting a new all-time high.","url":"https://stock-news.laohu8.com/highlight/detail?id=1169255658","media":"老虎资讯综合","summary":"周五盘初，微软涨超1%，高见284.1美元，续刷历史新高。瑞穗上调微软目标价至310美元，维持“买入”评级。\n\n瑞穗分析师Gregg Moskowitz发布研报，将微软目标价从285美元上调至310美","content":"<p>In early trading on Friday,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>It rose more than 1%, reaching a high of $284.10, setting a new all-time high. Mizuho raised its target price for Microsoft to $310 and maintained its \"buy\" rating.</p><p><img src=\"https://static.tigerbbs.com/79aaa3b02481436918ab8585b35435c1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Mizuho analyst Gregg Moskowitz released a research report raising his target price for Microsoft from $285 to $310 and maintaining his \"buy\" rating. Moskowitz stated that the economic recovery continues to solidify, and recent software channel inspections are \"generally very healthy.\" The analyst stated that companies that have achieved digitalization are still in the lead, but he noted that many traditional and on-premise technologies \"continue to normalize.\" In addition, the survey shows that the cybersecurity industry \"was particularly strong this quarter\".</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>Microsoft shares rose over 1%, hitting a new all-time high.</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\">\nMicrosoft shares rose over 1%, hitting a new all-time high.\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\">2021-07-16 21:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>In early trading on Friday,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>It rose more than 1%, reaching a high of $284.10, setting a new all-time high. Mizuho raised its target price for Microsoft to $310 and maintained its \"buy\" rating.</p><p><img src=\"https://static.tigerbbs.com/79aaa3b02481436918ab8585b35435c1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Mizuho analyst Gregg Moskowitz released a research report raising his target price for Microsoft from $285 to $310 and maintaining his \"buy\" rating. Moskowitz stated that the economic recovery continues to solidify, and recent software channel inspections are \"generally very healthy.\" The analyst stated that companies that have achieved digitalization are still in the lead, but he noted that many traditional and on-premise technologies \"continue to normalize.\" In addition, the survey shows that the cybersecurity industry \"was particularly strong this quarter\".</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/783e4a9d3f00e88db6623c5917a7c472","relate_stocks":{"MSFT":"微软"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169255658","content_text":"周五盘初，微软涨超1%，高见284.1美元，续刷历史新高。瑞穗上调微软目标价至310美元，维持“买入”评级。\n\n瑞穗分析师Gregg Moskowitz发布研报，将微软目标价从285美元上调至310美元，并维持“买入”评级。Moskowitz表示，经济复苏继续巩固，最近的软件渠道检查“总体上非常健康”。这位分析师表示，实现数字化的公司仍处于领先地位，但他指出，许多传统技术和本地部署(on-premise)技术“继续正常化”。此外，调查显示，网络安全行业“本季度特别强劲”。","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":6483,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141343215,"gmtCreate":1625840168237,"gmtModify":1703749648260,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"Just&nbsp;","listText":"Just&nbsp;","text":"Just","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/141343215","repostId":"2150372686","repostType":4,"repost":{"id":"2150372686","kind":"news","pubTimestamp":1625835004,"share":"https://ttm.financial/m/news/2150372686?lang=en_US&edition=fundamental","pubTime":"2021-07-09 20:50","market":"hk","language":"zh","title":"Rumors circulated that regulators had met with Xu Jiayin, but an Evergrande staff member stated that it was inconvenient to respond.","url":"https://stock-news.laohu8.com/highlight/detail?id=2150372686","media":"银柿财经","summary":"7月9日，有媒体报道《监管当局约见许家印，要求恒大尽快化解债务问题》。","content":"<p>On July 9, media reported that \"regulatory authorities met with Xu Jiayin, demanding that Evergrande resolve its debt issues as soon as possible.\" The report pointed out that \"the Financial Stability and Development Committee of the State Council of China and...\"<a href=\"https://laohu8.com/S/03333\">China Evergrande</a>During the meeting, Board Chairman Xu Jiayin urged the company to quickly resolve its debt difficulties to avoid triggering financial risks.</p><p>Meanwhile, according to an insider, about a month before this meeting with the Financial Stability and Development Committee, the People's Bank of China and other regulatory agencies held talks with Evergrande, urging it to accelerate the sale of assets, reduce debt, and repay debt in a timely manner.</p><p>A reporter from Yinshi Finance contacted a relevant person in charge of China Evergrande to inquire about the authenticity of the report. The staff member said, \"I don't know where the source of the news is. It's inconvenient to comment.\"</p><p><img src=\"https://static.tigerbbs.com/7bd9c5f6f455ab3d41aa3e821ab0cd24\" tg-width=\"840\" tg-height=\"470\"></p>","source":"lsy1610344500291","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>Rumors circulated that regulators had met with Xu Jiayin, but an Evergrande staff member stated that it was inconvenient to respond.</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\">\nRumors circulated that regulators had met with Xu Jiayin, but an Evergrande staff member stated that it was inconvenient to respond.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">银柿财经</strong><span class=\"h-time small\">2021-07-09 20:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On July 9, media reported that \"regulatory authorities met with Xu Jiayin, demanding that Evergrande resolve its debt issues as soon as possible.\" The report pointed out that \"the Financial Stability and Development Committee of the State Council of China and...\"<a href=\"https://laohu8.com/S/03333\">China Evergrande</a>During the meeting, Board Chairman Xu Jiayin urged the company to quickly resolve its debt difficulties to avoid triggering financial risks.</p><p>Meanwhile, according to an insider, about a month before this meeting with the Financial Stability and Development Committee, the People's Bank of China and other regulatory agencies held talks with Evergrande, urging it to accelerate the sale of assets, reduce debt, and repay debt in a timely manner.</p><p>A reporter from Yinshi Finance contacted a relevant person in charge of China Evergrande to inquire about the authenticity of the report. The staff member said, \"I don't know where the source of the news is. It's inconvenient to comment.\"</p><p><img src=\"https://static.tigerbbs.com/7bd9c5f6f455ab3d41aa3e821ab0cd24\" tg-width=\"840\" tg-height=\"470\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021070920454979d0dc51&s=b\">银柿财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/11035f651c5c16f8f951521b8717a989","relate_stocks":{},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021070920454979d0dc51&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2150372686","content_text":"7月9日，有媒体报道《监管当局约见许家印，要求恒大尽快化解债务问题》，该报道指出，“中国国务院金融稳定发展委员会与中国恒大董事局主席许家印会面时，要求其快化解债务困境，以免引发金融风险。“\n同时据一位知情人士称，在此次与金稳委会面前大约一个月，人行等监管机构曾约谈恒大，督促其加快出售资产、削减债务并及时偿还债务。\n银柿财经记者就该报道的真实性致电中国恒大相关负责人，该工作人员表示：“不知道消息的信源是哪里？不方便回应。”","news_type":1,"symbols_score_info":{"03333":0.9}},"isVote":1,"tweetType":1,"viewCount":7127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157849269,"gmtCreate":1625578917751,"gmtModify":1703744194982,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"?&nbsp;","listText":"?&nbsp;","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157849269","repostId":"1146964848","repostType":4,"repost":{"id":"1146964848","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":1625572391,"share":"https://ttm.financial/m/news/1146964848?lang=en_US&edition=fundamental","pubTime":"2021-07-06 19:53","market":"us","language":"zh","title":"Q2 Bank Stock Earnings Preview: Can Two Positive Factors Drive Stock Prices to Rise?","url":"https://stock-news.laohu8.com/highlight/detail?id=1146964848","media":"老虎资讯综合","summary":"7月6日消息，美股新一轮财报季即将拉开帷幕，打头阵的依然是投资者熟悉的银行股。在经济复苏和加息时间表提前两大利好之风推动下，银行股业绩能乘势而起吗？\n（其中，高盛、摩根大通、富国银行将于7月13日美股","content":"<p>July 6 news: A new round of earnings season for US stocks is about to kick off, with bank stocks, familiar to investors, still leading the charge. Driven by two major positive factors: economic recovery and the ahead-of-schedule rate hike, can bank stocks ride the wave of performance?</p><p><b><i>(Goldman Sachs, JPMorgan Chase, and Wells Fargo will release their earnings reports before the US stock market opens on July 13, Citigroup will release its earnings reports before the US stock market opens on July 14, and Morgan Stanley will release its earnings reports before the US stock market opens on July 15.)</i></b></p><p><b>First Quarter Performance Review</b></p><p><b>Overall, large bank stocks performed well in the first quarter, exceeding market expectations. The main reasons lie in two aspects. First, trading and investment banking income has increased significantly.</b>This point except<a href=\"https://laohu8.com/S/WFC\">Wells Fargo Bank</a>In addition, the other four bank stocks all showed significant performance.<b>Secondly, the release of credit loss provisions boosts profits.</b>Typical example<a href=\"https://laohu8.com/S/C\">Citi</a>and<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>and<a href=\"https://laohu8.com/S/WFC\">Wells Fargo Bank</a>。</p><p><b>The best performing company in the first quarter was undoubtedly<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>，</b>The main reason is the significant increase in investment banking and trading revenue, as we mentioned earlier. Investment banking revenue reached $3.771 billion, a year-on-year increase of 73%; Global transaction revenue reached $7.58 billion, a year-on-year increase of 47%. Among them, stock sales and trading increased by 68% year-on-year to $3.69 billion; Revenue from fixed income, foreign exchange and commodities (FICC) increased by 31% year-over-year to $3.89 billion.</p><p>although<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Despite its slower growth rate than Goldman Sachs, its performance growth has also shown strong explosive growth. Like Goldman Sachs, its performance growth was primarily driven by investment banking and stock trading revenue. First-quarter results showed that Morgan Stanley's revenue was $15.72 billion, a year-on-year increase of 65%. The revenue growth mainly came from three parts, with investment banking revenue reaching US$2.613 billion, a year-on-year increase of 128.41%; Stock trading revenue was $1.502 billion, a year-on-year increase of 347.02%, while wealth management revenue was $6 billion, a year-on-year increase of 46.34%.</p><p>In contrast, the revenue growth rates of JPMorgan Chase and Wells Fargo were only moderate. Although Citi's revenue declined year-on-year, it still exceeded market expectations. A clear characteristic of the three banks is that their net profit performance greatly shocked the market.<b>The main reason is the release of the credit loss provision mentioned earlier.</b></p><p>First-quarter reports show that JPMorgan Chase and Wells Fargo reported revenues of $33.1 billion and $18.1 billion, respectively, representing year-on-year increases of 14% and 2%, while their net profits were $14.3 billion and $4.7 billion, respectively, representing year-on-year increases of nearly 400% and 626%. Let's look at Citibank. Citibank saw its revenue decline by 7% year-on-year to $19.3 billion in the first quarter, but its net profit increased by 216% year-on-year to $7.9 billion.</p><p>The main reason for the surge in JPMorgan Chase's net profit was the release of credit loss provisions.<b>$5.2 billion,</b>It accounted for 36% of net profit for the quarter, while the provision for credit losses increased by $6.8 billion in the same period last year. Excluding the boost to the company's quarterly profit from the release of loan loss provisions, the company's quarterly earnings per share will be below $3, according to miss the market expectation.</p><p>Wells Fargo released approximately $1.6 billion in credit loss provisions, accounting for 34% of its current profit, compared to an additional approximately $3.1 billion in credit loss provisions in the same period last year.</p><p>The situation is similar for Citigroup. Citigroup's first-quarter revenue decline was due to varying degrees of decline in its global consumer banking, institutional client business, and corporate and other three segments. Among them, the most outstanding performing businesses were investment banking and stock trading revenue, both of which set records. Investment banking revenue surged 46% to $1.97 billion, while equity trading revenue increased 26% year-on-year to $1.48 billion. It is also the fastest-growing business within Citigroup year-on-year.</p><p>The \"secret weapon\" behind a significant increase in net profit despite overall revenue decline is credit loss provisions. Financial reports show that in the first quarter, Citigroup released $3.85 billion in credit loss provisions, accounting for 49% of the current profit, compared with approximately $4.9 billion in new credit loss provisions in the same period last year.</p><p><b>What factors deserve attention in the second quarter?</b></p><p><b>1. Can the high growth in investment banking and trading revenue continue?</b></p><p>As previously analyzed, one reason for the surge in bank performance in the first quarter was the significant increase in investment banking and transaction revenue. Will this factor decline in the second quarter?</p><p>Let's first look at investment banking business. Market analysts believe that the first quarter swept across the US stock market.<b>SPAC</b>Inspur is the main factor boosting investment banking business, and given recent changes in the regulatory environment, this strong performance will be difficult to continue in the second quarter.</p><p>Secondly, there is transaction revenue. Recently, JPMorgan Chase CEO Jamie Dimon and Morgan Stanley CEO James Gorman stated that trading revenue will eventually slow down after experiencing extremely strong growth.</p><p><b>2. With inflation data soaring, will the Federal Reserve's accelerated tightening of liquidity drive a significant increase in bank stock performance?</b></p><p>Among bank stocks, JPMorgan Chase, Wells Fargo, and Citigroup have a certain proportion of interest-related revenue, making them relatively sensitive to interest rates. In the first quarter, interest income decreased for all three banks. JPMorgan Chase's interest income declined 11% year-over-year to $13 billion, accounting for 39% of total revenue; Wells Fargo's interest income fell 22% year-over-year to $8.8 billion, accounting for 49% of total revenue. Citigroup's interest-related income in the first quarter was $7.52 billion, accounting for 40% of total revenue. The main reason for the decline in income is that the Federal Reserve has maintained monetary easing and interest rates have remained low for a long time.</p><p>As the economy gradually recovers, inflation data continues to rise. Rising inflation has triggered rate hike expectations that widening interest rate spreads will improve bank profitability. As inflation continues to rise, the level of monetary policy easing will gradually taper off, while the 10-year Treasury Bond interest rate will increase. Currently, the PPI turned positive year-on-year in January, the 10-year Treasury Bond rate continues to rise, rate hike expectations have improved, and the possibility of bank interest rate spreads widening in the future is increasing. It is expected that bank profitability will improve in 2021.</p><p><b>3. Is there still room for release of credit loss provisions?</b></p><p>Another issue to consider in the second quarter is whether there is still room for bank credit loss provisions to be released. We will use Citigroup as an example for your reference. Citigroup significantly increased its credit loss provisions in the first and second quarters of 2020, increasing them by $4.9 billion in the first quarter and $5.6 billion in the second quarter, for a total increase of $10.5 billion. The third quarter basically returned to normal, with an additional $300 million in credit loss provisions.</p><p>Starting in the fourth quarter, with the economic recovery, banks returned to optimism about corporate repayment ability and released credit loss provisions for two consecutive quarters (the released credit loss provisions can be understood as directly increasing the banks' net profit). Among them, approximately US$1.5 billion was released in the first quarter, approximately US$3.9 billion in the second quarter, and approximately US$5.4 billion was released for two consecutive quarters. There is still some room for release compared to the previous increase of US$10.5 billion.</p><p>Looking at it from another perspective, Citigroup's credit loss allowance was $21.6 billion, or 3.29% of total loans, at the end of the first quarter, compared to $20.4 billion, or 2.84% of total loans, at the end of last year. It can also be inferred that Citibank Credit's loss provision still has room for adjustment, but considering that the company's repayment ability may be affected after the pandemic, this ratio may not necessarily recover to pre-pandemic levels in the short term.</p><p><b>It should be noted that credit loss provisions are merely a financial game, and their short-term boost to profits does not represent an improvement in bank profitability.</b></p><p>Besides the impact of fundamentals,<b>Bank stocks recently passed the minimum risk level test set by the Federal Reserve, and the Fed's temporary restrictions on their Dividend payments and stock repurchases also expired on June 30.</b>It cannot be ruled out that this positive news, coupled with the combined financial results, could bring a surge to bank stocks.</p><p>In the long run, the core investment logic for bank stocks remains the macroeconomy. Optimists like the Federal Reserve predict that the U.S. economy will grow by 7% this year. The Federal Reserve's Beige Book survey report in early June pointed out that from early April to late May, the U.S. national economy expanded at a moderate pace, with the growth rate slightly higher than the previous reporting period. Employment growth has remained relatively stable, with the food service, hospitality, and retail sectors experiencing the strongest growth as the spread of COVID-19 continues to slow. Data shows that U.S. consumer confidence rose to its highest level since the outbreak of the COVID-19 pandemic more than a year ago in June. This has raised expectations for strong economic growth in the second quarter.</p><p>However, a recent article in Caijing magazine points out that the current economic recovery in the United States is very strong, but a significant part of the driving force comes from aggressive fiscal and monetary policies. The improvement in the pandemic has brought about a strong rebound in consumption, but it is still significantly different from pre-pandemic levels. As the boost to consumption from fiscal stimulus and business reopenings eventually fades, and the outlook for rate hike becomes increasingly clear, the sustainability of U.S. consumption growth will be tested.</p><p><a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Chief economist Hong Hao recently stated in an interview with CBN that<b>The United States is facing the dual challenges of inflation and economic shifts.</b>From a liquidity perspective, even though the Federal Reserve is still maintaining an accommodative policy, it is tightening marginally.<b>Whether Treasury Bond yields go up or down, it indicates a risk event in the second half of the year.</b>An upward trend could mean that inflation is not well controlled, while a downward trend could mean that the economic shift is much worse than expected.</p><p><b>What is Bloomberg's view on the second-quarter performance of bank stocks?</b></p><p><ul><li><b>Goldman Sachs:</b>Goldman Sachs reported second-quarter revenue of $12.044 billion, adjusted net income of $3.342 billion, and adjusted earnings per share of $9.49.</li><li><b>Morgan Stanley:</b>Morgan Stanley reported second-quarter revenue of $14.056 billion, adjusted net income of $3.061 billion, and adjusted earnings per share of $1.64.</li><li><b>JPMorgan Chase:</b>JPMorgan Chase reported revenue of $30.014 billion in the second quarter, adjusted net income of $9.33 billion, and adjusted earnings per share of $3.03.</li><li><b>Wells Fargo:</b>Wells Fargo reported second-quarter revenue of $17.807 billion, adjusted net profit of $3.847 billion, and adjusted earnings per share of $0.93.</li><li><b>Citigroup:</b>Bloomberg consensus expects Citigroup to report second-quarter revenue of $17.568 billion, adjusted net income of $4.197 billion, and adjusted earnings per share of $2.01.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8ea8ff3198bf54d8306edaaafd4de597\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>Goldman Sachs</span></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da08201c088bfc76f2e125cb40688f99\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>Morgan Stanley</span></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d75855beae9bd8dc28a09d9c146c6c79\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>JPMorgan Chase</span></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a42ae14bb976481d57ddde2b7adabb61\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>Wells Fargo Bank</span></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62f32d60cd04a0250b7605cda9ec35c2\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>Citi</span></p><p><b>Appendix: First Quarter Bank Stock Performance Details</b></p><p><ul><li><b>Goldman Sachs:</b>Goldman Sachs reported first-quarter net revenue of $17.7 billion, a record high, a 102% increase compared to $8.74 billion in the same period last year, far exceeding market expectations of $12.55 billion. In the first quarter, Goldman Sachs' common shareholder net income reached $6.711 billion, with earnings per share of $18.60, a significant increase of 498% year-over-year.</li><li><b>Morgan Stanley:</b>Morgan Stanley's net income for the first quarter was $15.72 billion, up 65% year-over-year, exceeding Bloomberg's expectation of $13.954 billion; Net income was $4.12 billion, a surge of 142.6% year-over-year, exceeding Bloomberg's forecast of $4.04 billion; Earnings per share were $2.19, exceeding market expectations of $1.68 and $1.01 in the same period last year.</li><li><b>JPMorgan Chase:</b>JPMorgan Chase's revenue for the first quarter of 2021 was $33.12 billion, up 14% year-over-year, compared to expectations of $30.52 billion; Net profit was $14.3 billion, up 399% year-over-year and 18% quarter-over-quarter; Earnings per share were $4.50, compared to market expectations of $3.06 and $0.78 in the same period last year.<b>Excluding the boost to the company's quarterly profit from the release of loan loss provisions, the company's quarterly earnings per share will be below $3, according to miss the market expectation.</b></li><li><b>Wells Fargo Bank</b>Wells Fargo's revenue for the first quarter of 2021 was $18.063 billion, compared to $17.717 billion in the same period last year, exceeding market expectations of $17.524 billion; Net income was $4.742 billion, compared to $653 million in the same period last year, far exceeding Bloomberg's expectation of $2.943 billion; Diluted earnings per share were 1 cent, which included -$0.73 per share in reserves and securities business losses due to market and economic conditions, as well as -$0.06 per share in redemptions of Class K preferred shares.</li><li><b>Citigroup:</b>Citigroup's first-quarter revenue was $19.3 billion, a 7% year-over-year decrease, but better than market expectations of $18.8 billion; First-quarter net income was $7.9 billion, compared to $2.5 billion in the same period last year; Earnings per share were $3.62, a 242% increase year-over-year and better than analysts' expectations of $2.60.</li></ul></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>Q2 Bank Stock Earnings Preview: Can Two Positive Factors Drive Stock Prices to Rise?</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\">\nQ2 Bank Stock Earnings Preview: Can Two Positive Factors Drive Stock Prices to Rise?\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\">2021-07-06 19:53</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>July 6 news: A new round of earnings season for US stocks is about to kick off, with bank stocks, familiar to investors, still leading the charge. Driven by two major positive factors: economic recovery and the ahead-of-schedule rate hike, can bank stocks ride the wave of performance?</p><p><b><i>(Goldman Sachs, JPMorgan Chase, and Wells Fargo will release their earnings reports before the US stock market opens on July 13, Citigroup will release its earnings reports before the US stock market opens on July 14, and Morgan Stanley will release its earnings reports before the US stock market opens on July 15.)</i></b></p><p><b>First Quarter Performance Review</b></p><p><b>Overall, large bank stocks performed well in the first quarter, exceeding market expectations. The main reasons lie in two aspects. First, trading and investment banking income has increased significantly.</b>This point except<a href=\"https://laohu8.com/S/WFC\">Wells Fargo Bank</a>In addition, the other four bank stocks all showed significant performance.<b>Secondly, the release of credit loss provisions boosts profits.</b>Typical example<a href=\"https://laohu8.com/S/C\">Citi</a>and<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>and<a href=\"https://laohu8.com/S/WFC\">Wells Fargo Bank</a>。</p><p><b>The best performing company in the first quarter was undoubtedly<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>，</b>The main reason is the significant increase in investment banking and trading revenue, as we mentioned earlier. Investment banking revenue reached $3.771 billion, a year-on-year increase of 73%; Global transaction revenue reached $7.58 billion, a year-on-year increase of 47%. Among them, stock sales and trading increased by 68% year-on-year to $3.69 billion; Revenue from fixed income, foreign exchange and commodities (FICC) increased by 31% year-over-year to $3.89 billion.</p><p>although<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Despite its slower growth rate than Goldman Sachs, its performance growth has also shown strong explosive growth. Like Goldman Sachs, its performance growth was primarily driven by investment banking and stock trading revenue. First-quarter results showed that Morgan Stanley's revenue was $15.72 billion, a year-on-year increase of 65%. The revenue growth mainly came from three parts, with investment banking revenue reaching US$2.613 billion, a year-on-year increase of 128.41%; Stock trading revenue was $1.502 billion, a year-on-year increase of 347.02%, while wealth management revenue was $6 billion, a year-on-year increase of 46.34%.</p><p>In contrast, the revenue growth rates of JPMorgan Chase and Wells Fargo were only moderate. Although Citi's revenue declined year-on-year, it still exceeded market expectations. A clear characteristic of the three banks is that their net profit performance greatly shocked the market.<b>The main reason is the release of the credit loss provision mentioned earlier.</b></p><p>First-quarter reports show that JPMorgan Chase and Wells Fargo reported revenues of $33.1 billion and $18.1 billion, respectively, representing year-on-year increases of 14% and 2%, while their net profits were $14.3 billion and $4.7 billion, respectively, representing year-on-year increases of nearly 400% and 626%. Let's look at Citibank. Citibank saw its revenue decline by 7% year-on-year to $19.3 billion in the first quarter, but its net profit increased by 216% year-on-year to $7.9 billion.</p><p>The main reason for the surge in JPMorgan Chase's net profit was the release of credit loss provisions.<b>$5.2 billion,</b>It accounted for 36% of net profit for the quarter, while the provision for credit losses increased by $6.8 billion in the same period last year. Excluding the boost to the company's quarterly profit from the release of loan loss provisions, the company's quarterly earnings per share will be below $3, according to miss the market expectation.</p><p>Wells Fargo released approximately $1.6 billion in credit loss provisions, accounting for 34% of its current profit, compared to an additional approximately $3.1 billion in credit loss provisions in the same period last year.</p><p>The situation is similar for Citigroup. Citigroup's first-quarter revenue decline was due to varying degrees of decline in its global consumer banking, institutional client business, and corporate and other three segments. Among them, the most outstanding performing businesses were investment banking and stock trading revenue, both of which set records. Investment banking revenue surged 46% to $1.97 billion, while equity trading revenue increased 26% year-on-year to $1.48 billion. It is also the fastest-growing business within Citigroup year-on-year.</p><p>The \"secret weapon\" behind a significant increase in net profit despite overall revenue decline is credit loss provisions. Financial reports show that in the first quarter, Citigroup released $3.85 billion in credit loss provisions, accounting for 49% of the current profit, compared with approximately $4.9 billion in new credit loss provisions in the same period last year.</p><p><b>What factors deserve attention in the second quarter?</b></p><p><b>1. Can the high growth in investment banking and trading revenue continue?</b></p><p>As previously analyzed, one reason for the surge in bank performance in the first quarter was the significant increase in investment banking and transaction revenue. Will this factor decline in the second quarter?</p><p>Let's first look at investment banking business. Market analysts believe that the first quarter swept across the US stock market.<b>SPAC</b>Inspur is the main factor boosting investment banking business, and given recent changes in the regulatory environment, this strong performance will be difficult to continue in the second quarter.</p><p>Secondly, there is transaction revenue. Recently, JPMorgan Chase CEO Jamie Dimon and Morgan Stanley CEO James Gorman stated that trading revenue will eventually slow down after experiencing extremely strong growth.</p><p><b>2. With inflation data soaring, will the Federal Reserve's accelerated tightening of liquidity drive a significant increase in bank stock performance?</b></p><p>Among bank stocks, JPMorgan Chase, Wells Fargo, and Citigroup have a certain proportion of interest-related revenue, making them relatively sensitive to interest rates. In the first quarter, interest income decreased for all three banks. JPMorgan Chase's interest income declined 11% year-over-year to $13 billion, accounting for 39% of total revenue; Wells Fargo's interest income fell 22% year-over-year to $8.8 billion, accounting for 49% of total revenue. Citigroup's interest-related income in the first quarter was $7.52 billion, accounting for 40% of total revenue. The main reason for the decline in income is that the Federal Reserve has maintained monetary easing and interest rates have remained low for a long time.</p><p>As the economy gradually recovers, inflation data continues to rise. Rising inflation has triggered rate hike expectations that widening interest rate spreads will improve bank profitability. As inflation continues to rise, the level of monetary policy easing will gradually taper off, while the 10-year Treasury Bond interest rate will increase. Currently, the PPI turned positive year-on-year in January, the 10-year Treasury Bond rate continues to rise, rate hike expectations have improved, and the possibility of bank interest rate spreads widening in the future is increasing. It is expected that bank profitability will improve in 2021.</p><p><b>3. Is there still room for release of credit loss provisions?</b></p><p>Another issue to consider in the second quarter is whether there is still room for bank credit loss provisions to be released. We will use Citigroup as an example for your reference. Citigroup significantly increased its credit loss provisions in the first and second quarters of 2020, increasing them by $4.9 billion in the first quarter and $5.6 billion in the second quarter, for a total increase of $10.5 billion. The third quarter basically returned to normal, with an additional $300 million in credit loss provisions.</p><p>Starting in the fourth quarter, with the economic recovery, banks returned to optimism about corporate repayment ability and released credit loss provisions for two consecutive quarters (the released credit loss provisions can be understood as directly increasing the banks' net profit). Among them, approximately US$1.5 billion was released in the first quarter, approximately US$3.9 billion in the second quarter, and approximately US$5.4 billion was released for two consecutive quarters. There is still some room for release compared to the previous increase of US$10.5 billion.</p><p>Looking at it from another perspective, Citigroup's credit loss allowance was $21.6 billion, or 3.29% of total loans, at the end of the first quarter, compared to $20.4 billion, or 2.84% of total loans, at the end of last year. It can also be inferred that Citibank Credit's loss provision still has room for adjustment, but considering that the company's repayment ability may be affected after the pandemic, this ratio may not necessarily recover to pre-pandemic levels in the short term.</p><p><b>It should be noted that credit loss provisions are merely a financial game, and their short-term boost to profits does not represent an improvement in bank profitability.</b></p><p>Besides the impact of fundamentals,<b>Bank stocks recently passed the minimum risk level test set by the Federal Reserve, and the Fed's temporary restrictions on their Dividend payments and stock repurchases also expired on June 30.</b>It cannot be ruled out that this positive news, coupled with the combined financial results, could bring a surge to bank stocks.</p><p>In the long run, the core investment logic for bank stocks remains the macroeconomy. Optimists like the Federal Reserve predict that the U.S. economy will grow by 7% this year. The Federal Reserve's Beige Book survey report in early June pointed out that from early April to late May, the U.S. national economy expanded at a moderate pace, with the growth rate slightly higher than the previous reporting period. Employment growth has remained relatively stable, with the food service, hospitality, and retail sectors experiencing the strongest growth as the spread of COVID-19 continues to slow. Data shows that U.S. consumer confidence rose to its highest level since the outbreak of the COVID-19 pandemic more than a year ago in June. This has raised expectations for strong economic growth in the second quarter.</p><p>However, a recent article in Caijing magazine points out that the current economic recovery in the United States is very strong, but a significant part of the driving force comes from aggressive fiscal and monetary policies. The improvement in the pandemic has brought about a strong rebound in consumption, but it is still significantly different from pre-pandemic levels. As the boost to consumption from fiscal stimulus and business reopenings eventually fades, and the outlook for rate hike becomes increasingly clear, the sustainability of U.S. consumption growth will be tested.</p><p><a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Chief economist Hong Hao recently stated in an interview with CBN that<b>The United States is facing the dual challenges of inflation and economic shifts.</b>From a liquidity perspective, even though the Federal Reserve is still maintaining an accommodative policy, it is tightening marginally.<b>Whether Treasury Bond yields go up or down, it indicates a risk event in the second half of the year.</b>An upward trend could mean that inflation is not well controlled, while a downward trend could mean that the economic shift is much worse than expected.</p><p><b>What is Bloomberg's view on the second-quarter performance of bank stocks?</b></p><p><ul><li><b>Goldman Sachs:</b>Goldman Sachs reported second-quarter revenue of $12.044 billion, adjusted net income of $3.342 billion, and adjusted earnings per share of $9.49.</li><li><b>Morgan Stanley:</b>Morgan Stanley reported second-quarter revenue of $14.056 billion, adjusted net income of $3.061 billion, and adjusted earnings per share of $1.64.</li><li><b>JPMorgan Chase:</b>JPMorgan Chase reported revenue of $30.014 billion in the second quarter, adjusted net income of $9.33 billion, and adjusted earnings per share of $3.03.</li><li><b>Wells Fargo:</b>Wells Fargo reported second-quarter revenue of $17.807 billion, adjusted net profit of $3.847 billion, and adjusted earnings per share of $0.93.</li><li><b>Citigroup:</b>Bloomberg consensus expects Citigroup to report second-quarter revenue of $17.568 billion, adjusted net income of $4.197 billion, and adjusted earnings per share of $2.01.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8ea8ff3198bf54d8306edaaafd4de597\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>Goldman Sachs</span></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da08201c088bfc76f2e125cb40688f99\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>Morgan Stanley</span></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d75855beae9bd8dc28a09d9c146c6c79\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>JPMorgan Chase</span></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a42ae14bb976481d57ddde2b7adabb61\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>Wells Fargo Bank</span></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62f32d60cd04a0250b7605cda9ec35c2\" tg-width=\"1918\" tg-height=\"702\" referrerpolicy=\"no-referrer\"><span>Citi</span></p><p><b>Appendix: First Quarter Bank Stock Performance Details</b></p><p><ul><li><b>Goldman Sachs:</b>Goldman Sachs reported first-quarter net revenue of $17.7 billion, a record high, a 102% increase compared to $8.74 billion in the same period last year, far exceeding market expectations of $12.55 billion. In the first quarter, Goldman Sachs' common shareholder net income reached $6.711 billion, with earnings per share of $18.60, a significant increase of 498% year-over-year.</li><li><b>Morgan Stanley:</b>Morgan Stanley's net income for the first quarter was $15.72 billion, up 65% year-over-year, exceeding Bloomberg's expectation of $13.954 billion; Net income was $4.12 billion, a surge of 142.6% year-over-year, exceeding Bloomberg's forecast of $4.04 billion; Earnings per share were $2.19, exceeding market expectations of $1.68 and $1.01 in the same period last year.</li><li><b>JPMorgan Chase:</b>JPMorgan Chase's revenue for the first quarter of 2021 was $33.12 billion, up 14% year-over-year, compared to expectations of $30.52 billion; Net profit was $14.3 billion, up 399% year-over-year and 18% quarter-over-quarter; Earnings per share were $4.50, compared to market expectations of $3.06 and $0.78 in the same period last year.<b>Excluding the boost to the company's quarterly profit from the release of loan loss provisions, the company's quarterly earnings per share will be below $3, according to miss the market expectation.</b></li><li><b>Wells Fargo Bank</b>Wells Fargo's revenue for the first quarter of 2021 was $18.063 billion, compared to $17.717 billion in the same period last year, exceeding market expectations of $17.524 billion; Net income was $4.742 billion, compared to $653 million in the same period last year, far exceeding Bloomberg's expectation of $2.943 billion; Diluted earnings per share were 1 cent, which included -$0.73 per share in reserves and securities business losses due to market and economic conditions, as well as -$0.06 per share in redemptions of Class K preferred shares.</li><li><b>Citigroup:</b>Citigroup's first-quarter revenue was $19.3 billion, a 7% year-over-year decrease, but better than market expectations of $18.8 billion; First-quarter net income was $7.9 billion, compared to $2.5 billion in the same period last year; Earnings per share were $3.62, a 242% increase year-over-year and better than analysts' expectations of $2.60.</li></ul></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/69af882c29a3ff047224139fe1096d17","relate_stocks":{"C":"花旗","MS":"摩根士丹利","JPM":"摩根大通","WFC":"富国银行","GS":"高盛"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146964848","content_text":"7月6日消息，美股新一轮财报季即将拉开帷幕，打头阵的依然是投资者熟悉的银行股。在经济复苏和加息时间表提前两大利好之风推动下，银行股业绩能乘势而起吗？\n（其中，高盛、摩根大通、富国银行将于7月13日美股盘前发布财报，花旗将于7月14日美股盘前发布财报，摩根士丹利将于7月15日美股盘前发布财报。）\n一季度业绩回顾\n总体来看，一季度大型银行股业绩表现均比较亮眼，且超出市场预期。主要原因在于两个方面，其一，交易和投行收入大增，这点除富国银行外，其他四家银行股都比较明显。其二，信贷损失拨备释放对利润的提振，典型的如花旗和摩根大通和富国银行 。\n一季度业绩表现最好的当属高盛，主要原因是前面我们提到过的投行和交易收入大增。其中，投行营收37.71亿美元，同比增长73%；全球交易收入75.8亿美元，同比增长47%。其中，股票销售和交易同比大增68%至36.9亿美元；而固收、外汇和大宗商品类（FICC）营收同比增长31%至38.9亿美元。\n虽然摩根士丹利增速不及高盛，但其业绩增长也呈很强的爆发性。与高盛相同的是，其业绩增长也主要由投行和股票交易收入驱动。一季度业绩显示，摩根士丹利营收157.2亿美元，同比增长65%。营收增长的主要来源于三部分，其中投行业务营收26.13亿美元，同比增长128.41%；股票交易收入15.02亿美元，同比增长347.02%，还有就是财富管理业务营收60亿美元，同比增加46.34%。\n相比之下，摩根大通和富国银行的营收增速只能说是中规中矩，虽然花旗营收同比出现下滑，但也超出了市场的预期。三家银行很明显的特征是，净利润的表现令市场大为震惊，主要原因，就是此前提到的信贷损失拨备的释放。\n一季报显示，摩根大通和富国银行一季度营收分别为331亿和181亿美元，同比分别增长14%和2%，而两家公司的净利润分别为143亿美元和47亿美元，同比分别大涨近400%和626%。再来看花旗银行，花旗一季度营收同比下滑7%至193亿美元，但净利润同比增长216%至79亿美元。\n摩根大通净利润大增的主要原因是信贷损失拨备释放了52亿美元，占当季度净利润的36%，而去年同期信贷损失拨备增加了68亿美元。如果扣除贷款损失准备金释放对公司季度利润的提振，公司季度每股盈利将低于3美元，不及市场预期。\n富国银行释放了约16亿美元的信贷损失准备，占当期利润的34%，去年同期新增约31亿美元的信贷损失准备。\n花旗的情况也类似。花旗一季度营收下滑的原因是全球消费者银行、机构客户业务和企业及其他三个部门均出现不同程度的下滑。其中，表现最亮眼的业务是投行和股票交易营收，二者均创记录。其中，投行业务收入猛增46%至19.7亿美元，股票交易收入同比增长26%至14.8亿美元。也是花旗内部同比增速最快的业务。\n营收整体下滑，净利润却实现大幅增长的‘秘密武器’也是信贷损失拨备，财报显示，一季度花旗信贷损失拨备释放了38.5亿美元，占当期利润的49%，去年同期新增信贷损失拨备约49亿美元。\n二季度哪些因素值得关注\n1、投行和交易收入高增长能否继续？\n如前分析，一季度银行业绩大增的一个原因是投行和交易收入的大增，这个因素在二季度会回落吗？\n首先来看下投行业务。市场分析认为，一季度席卷美股的SPAC浪潮是提振投行业务的主要因素，考虑到最近监管环境的变化，这部分强劲表现将很难在二季度延续。\n其次是交易收入。近日，摩根大通CEO杰米·戴蒙和摩根士丹利CEO詹姆斯·戈尔曼表示，交易收入在经历了极其强劲的增长后最终会放缓。\n2、通胀数据爆表，美联储加速收紧流动性会否带动银行股业绩大幅增长？\n银行股中，摩根大通、富国银行和花旗利息相关的营收占比达到一定规模，因此对利率也相对敏感。一季度，三家银行的利息收入都是减少的。其中，摩根大通利息收入同比下滑11%至130亿美元，占总营收的39%；富国银行利息收入同比下滑22%至88亿美元，占总营收的49%。花旗一季度利息相关的收入为75.2亿美元，占总营收的40%。收入下滑的主要原因是，美联储维持货币宽松，利率长期处于较低水平。\n随着经济逐渐恢复，通胀数据连续走高。通胀上行引发加息预期，息差扩大将会提升银行盈利能力。在通胀持续走高阶段，货币政策宽松程度将会逐渐收敛，同时十年期国债利率水平将会提高。目前1月PPI同比由负转正，十年期国债利率持续提升，加息预期有所提升，后续银行息差走扩的可能性正在增强，预计2021年银行盈利能力将会提升。\n3、信贷损失拨备是否还有释放空间？\n二季度需要关心的另一个问题是，银行信贷损失拨备是否还有释放空间？我们以花旗为例给大家做参考。花旗大幅调高信贷损失拨备是在2020年的一季度和二季度，其中，一季度增加了49亿美元，二季度增加56亿美元，共计增加105亿美元。三季度基本回归常态新增3亿美元的信贷损失拨备。\n从四季度开始，随着经济复苏，银行对企业还款能力重回乐观，连续两个季度释放信贷损失拨备（释放的信贷损失拨备可以理解为直接增加银行净利润），其中，一季度释放约15亿，二季度释放约39亿美元，连续两个季度释放约54亿美元，较此前新增的105亿美元仍有一定的释放空间。\n换一个角度看，花旗的信贷损失准备金在一季度末为 216亿美元，占贷款总额的 3.29%，上年末为 204亿美元，占贷款总额的 2.84%。也可以推测，花旗信贷损失拨备仍有调整空间，但考虑到疫情之后企业还款能力可能受到影响，短期内这一比例并不一定能恢复至疫情之前。\n需要看到的是，信贷损失拨备不过只是财务游戏，其短期对利润的提振并不能代表银行盈利能力的改观。\n除了基本面的影响，银行股近日通过了美联储设定的最低风险水平测试，美联储对其支付股息和回购股票的临时限制也在6月30日到期。不排除这一利好和财报业绩叠加，给银行股带来一波行情。\n长期看，银行股核心投资逻辑还是宏观经济。乐观如美联储，预计今年美国经济将增长7%。美联储6月初的褐皮书调查报告指出，从4月初到5月下旬，美国国民经济以温和的速度扩张，增速略高于前一个报告期。就业人口增幅相对稳定，随着新冠病毒传播继续放缓，食品服务业、酒店业和零售业的就业增长最为强劲。有数据显示，美国6月消费者信心上升至一年多前新冠肺炎疫情暴发以来的最高水平。这提高了人们对二季度经济强劲增长的预期。\n不过，《财经》杂志最新撰文指出，当前美国的经济复苏势头很强劲，但动力中相当一部分来自激进的财政货币政策。疫情改善带来一轮强烈消费反弹，但是距离疫情前的水平仍有明显差距。随着财政刺激和企业重新开工对消费的拉动最终消退，以及加息前景越来越明确化，美国消费增长的可持续性将会面临考验。\n交银国际首席经济学家洪灏近日在接受第一财经采访时表示，美国正在经受通胀和经济换挡的双重考验。从资金面看，美联储即便还在保持宽松的政策，但是边际来说是在收紧。无论国债收益率向上走还是向下走，都预示着下半年有一个风险事件。往上走可能意味着通胀没有控制好，往下走可能意味着经济换挡比大家预期要糟糕的多。\n彭博社怎么看二季度银行股业绩表现？\n\n高盛：二季度高盛营收120.44亿美元，调整后净利润33.42亿美元，调整后每股收益9.49美元。\n摩根士丹利：二季度摩根士丹利营收140.56亿美元，调整后净利润30.61亿美元，调整后每股收益1.64美元。\n摩根大通：二季度摩根大通营收300.14亿美元，调整后净利润93.30亿美元，调整后每股收益3.03美元。\n富国银行：二季度富国银行营收178.07亿美元，调整后净利润38.47亿美元，调整后每股收益0.93美元。\n花旗：彭博社一致预期，二季度花旗营收175.68亿美元，调整后净利润41.97亿美元，调整后每股收益2.01美元。\n\n高盛\n \n摩根士丹利\n摩根大通\n富国银行\n花旗\n附：一季度银行股业绩明细\n\n高盛：高盛第一季度净营收177亿美元，创历史新高，和去年同期的87.4亿美元相比，涨幅达102%，远高于市场预估的125.5亿美元。第一季度，高盛普通股股东净利润达到67.11亿美元，每股收益18.60美元，同比大增498%。\n摩根士丹利：摩根士丹利第一季度净收入157.2亿美元，同比增长65%，高于彭博社预期的139.54亿美元；净利润为41.2亿美元，同比狂增142.6%，超出彭博社预期的40.4亿美元；每股收益2.19美元，超出市场预期的1.68美元，上年同期1.01美元。\n摩根大通：摩根大通2021年第一季度营收331.2亿美元，同比增长14%，预期为305.2亿美元；净利润143亿美元，同比增长399%，环比增长18%；每股盈利4.5美元，市场预期盈利3.06美元，去年同期0.78美元。如果扣除贷款损失准备金释放对公司季度利润的提振，公司季度每股盈利将低于3美元，不及市场预期。\n富国银行：富国银行2021年一季度营收180.63亿美元，去年同期177.17亿美元，市场预期为175.24亿美元；净利润47.42亿美元，去年同期6.53亿美元，远超彭博社预期的29.43亿美元；稀释后每股收益为1美分，其中已经包含了-0.73美元/股受到市场和经济状况影响建立的准备金与证券业务亏损，此外还包括了-0.06美元/股赎回K类优先股的影响。\n花旗：花旗一季度营收193亿美元，同比下降7%，但好于市场预期的188亿美元；一季度净利润79亿美元，去年同期为25亿美元；每股收益3.62美元，同比大增242%，且好于分析师预期的2.60美元。","news_type":1,"symbols_score_info":{"WFC":0.9,"GS":0.9,"JPM":0.9,"C":0.9,"MS":0.9}},"isVote":1,"tweetType":1,"viewCount":4940,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127743301,"gmtCreate":1624871175603,"gmtModify":1703846679674,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ?","listText":"? ? ? ?","text":"? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/127743301","repostId":"2146881622","repostType":4,"repost":{"id":"2146881622","kind":"news","pubTimestamp":1624870410,"share":"https://ttm.financial/m/news/2146881622?lang=en_US&edition=fundamental","pubTime":"2021-06-28 16:53","market":"us","language":"zh","title":"Are we about to be eliminated by the times? The world's most powerful company suffered a huge loss of $22.4 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2146881622","media":" 正解局","summary":"2005年，美国有3家石化企业跻身前十强；2020年，全部出局。正解局原创\n14年前左右，全球最牛的公司是埃克森美孚。\n这家石油公司，2006年营业收入高居全球第一，2007年市值又高居全球第一，风头","content":"<p>In 2005, three U.S. petrochemical companies ranked among the top ten; In 2020, they were all eliminated. Original article by Zhengjieju</p><p>About 14 years ago, the world's most powerful company was<a href=\"https://laohu8.com/S/XOM\">ExxonMobil</a>。</p><p>This oil company ranked first in the world in revenue in 2006 and first in market capitalization in 2007, enjoying unparalleled success.</p><p>Today, ExxonMobil's market capitalization has shrunk by half, and its operating revenue in 2020 was a loss of $22.4 billion.</p><p>What has ExxonMobil done wrong in just over a decade?</p><p>Are petrochemical companies really having a tough time?</p><p><img src=\"https://static.tigerbbs.com/1ffefa502a3b3b7343aa17156a17e8d6\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\">ExxonMobil, from a prestigious family.</p><p>Its predecessor was the famous Standard Oil Company founded by Rockefeller.</p><p>This largest crude oil producer in the United States monopolizes 95% of the country's refining capacity, 90% of its transportation capacity, and 25% of its crude oil production.</p><p>The extent of the monopoly is unprecedented and unprecedented in American history.</p><p>Because it was so powerful, in 1911 the Standard Oil empire was broken up into about 37 regional oil companies.</p><p>Among them, the largest is Exxon (Standard Oil of New Jersey).</p><p>The general trend of the world will inevitably divide after a long time, and unite after a long time.</p><p>In 1999, ExxonMobil (Standard Oil of New Jersey) and Mobil merged to form ExxonMobil, transforming it into the world's largest oil company.</p><p>A Big Mac is a Big Mac. In the second year after the merger, ExxonMobil appeared on the Fortune Global 500 list, ranking third.</p><p><img src=\"https://static.tigerbbs.com/de976cf6d27f46cb0cf233283bc0397d\" tg-width=\"435\" tg-height=\"539\" referrerpolicy=\"no-referrer\">Top Ten of Fortune Global 500 in 2000</p><p>Since then, ExxonMobil has consistently ranked among the top 5 on the World 500 list. In 2006, it rose to number one in the world.<img src=\"https://static.tigerbbs.com/a05d48e79c0f57ea523f43697f69fdfa\" tg-width=\"660\" tg-height=\"665\" referrerpolicy=\"no-referrer\">Top Ten of Fortune Global 500 in 2006</p><p>2007 was also ExxonMobil's highlight year, with its market capitalization firmly ranking first in the world, reaching a peak of $525 billion.</p><p>This is such a powerful company. Its 2020 financial report showed a loss of $22.44 billion, marking its first loss since the merger and possibly one of the largest loss-making companies in the world.</p><p>The latest market capitalization is only $273.9 billion, only half of its peak.</p><p><img src=\"https://static.tigerbbs.com/93e38d7e4eaef842e365b7effdf8da04\" tg-width=\"840\" tg-height=\"470\">Today, ExxonMobil's market capitalization is only $272.4 billion, barely topping the list.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One-tenth of its $2.24 trillion market capitalization.</p><p>To cope with the losses, ExxonMobil decided to lay off employees, suspend bonuses, and sell assets to save itself.</p><p>After announcing 14,000 job cuts globally in 2020 and 2022, ExxonMobil also plans to reduce the number of employees in its U.S. offices by 5% to 10% annually over the next three to five years.</p><p>Based on ExxonMobil's workforce composition, the U.S. office lays off 1,000 to 3,000 people each year.</p><p>ExxonMobil has also taken measures such as suspending bonus payments and stopping matching employee contributions to 401k savings plans.</p><p>In addition, ExxonMobil will sell its stake in 15 oil fields to recover some blood.<img src=\"https://static.tigerbbs.com/896a25d58495644c16903bb72d3ef94d\" tg-width=\"554\" tg-height=\"370\" referrerpolicy=\"no-referrer\">ExxonMobil chemical plant in Baytown, Texas</p><p>Ordinary employees face the risk of unemployment, and senior management is also having a tough time.</p><p>Previously, ExxonMobil replaced a quarter of its board members due to climate and financial issues.</p><p><img src=\"https://static.tigerbbs.com/c3e19a6be56cb21660acb2bd3624b49d\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p>ExxonMobil's losses were due to chance factors.</p><p>It's worth noting that in 2019, they also earned a net profit of $14.34 billion.</p><p>The huge losses in 2020 were due to the COVID-19 pandemic.</p><p>Due to the impact of the pandemic, oil demand has declined, and international oil prices have also plummeted. For details, please refer to the article \"Sending 84 giant ships to buy oil at the bottom, has China become the biggest winner of the 'oil war'?\" by Zhengjieju.</p><p><img src=\"https://static.tigerbbs.com/e36c5ed02f7d9f7a3b6803cee6cead1d\" tg-width=\"660\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p><p>Crude oil price trend chart in recent years</p><p>With declining sales and lower prices, ExxonMobil's revenue has naturally been greatly affected.</p><p>You see, as the pandemic gradually came under control and international oil prices began to rise, ExxonMobil's revenue began to \"come back to life\".</p><p>The company's net profit attributable to ordinary shareholders for the first fiscal quarter of 2021 was $2.73 billion.</p><p>If we go back to 2019, before the pandemic, we will find that ExxonMobil's net profit also declined compared to 2018.</p><p>Considering its declining market capitalization, ExxonMobil's decline is already a major trend.</p><p>Therefore, there must be internal factors behind ExxonMobil's decline.</p><p>First, the investment failed.</p><p>Energy companies like petrochemicals are engaged in the business of buying and selling energy.</p><p>To develop well, we need to rely on the mergers and expansions of our patriarch, Rockefeller.</p><p>ExxonMobil did inherit this well, early on when the two merged to become the world's largest oil company.</p><p>In its subsequent operations, ExxonMobil continuously purchased high-quality upstream oil and gas assets, with the wishful thinking of \"buying low and selling high\".</p><p>However, sometimes things don't go as planned.</p><p>In 2009, taking advantage of the international financial crisis, ExxonMobil spent a whopping $41 billion to acquire XTO Energy in the United States, acquiring fracking technology and valuable natural gas fields.</p><p>I originally hoped to make a fortune thanks to the surge in natural gas prices. Who would have thought that it would end up on the mountaintop?</p><p>As commodity prices fell in the following years, ExxonMobil invested in losses and eventually withdrew most of its investments.</p><p>Data from investment bank Evercore ISI shows that ExxonMobil spent $261 billion on capital between 2009 and 2019.</p><p>Not only did oil and gas production not expand much, but it actually increased debt by $45 billion.</p><p><img src=\"https://static.tigerbbs.com/a59dc22a96ff6d5e35155840a6e88e07\" tg-width=\"554\" tg-height=\"738\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/1ee1f70017b5261ef909bca6227bfdfa\" tg-width=\"601\" tg-height=\"800\" referrerpolicy=\"no-referrer\"></p><p>ExxonMobil's Investments and Debts</p><p>Secondly, there was a strategic mistake.</p><p>ExxonMobil is very aggressive in investing in oil and gas resources, but very conservative in new energy.</p><p>Like other U.S. oil companies, ExxonMobil believes that demand for oil and gas energy will not decrease in the short term, and that switching to new energy sources would be foolish.</p><p>ExxonMobil is indeed quite stubborn. On the one hand, it looks down on new energy sources, and on the other hand, it invests $1 billion annually in research on \"carbon capture and storage technology\".</p><p><img src=\"https://static.tigerbbs.com/7b9047c394c310e89c3534276bbb39c4\" tg-width=\"660\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p>Schematic diagram of \"Carbon capture and storage technology\"</p><p>This technology, simply put, involves collecting carbon dioxide produced by industrial activities and storing it using various methods to prevent it from being released into the atmosphere.</p><p>ExxonMobil's little idea was that since the reason for not allowing the use of oil was because they were afraid of carbon emissions, they might as well capture and sequester the carbon, so that they could allow the use of oil.</p><p>The ideal is lofty, but the reality is harsh.</p><p>This technology has been researched for forty or fifty years, but there has been little substantial progress.</p><p>ExxonMobil probably \"clicked on the wrong technology tree\".</p><p>Your butt determines your head; that's really unacceptable.</p><p><img src=\"https://static.tigerbbs.com/e76a5235faa31191b4c32e86aa9e1632\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p>Does ExxonMobil's decline mean that petrochemical companies are having a tough time?</p><p>To be precise, it's American petrochemical companies that are having a tough time.</p><p>Let's first look at the 2006 Fortune Global 500, where ExxonMobil ranked first in the world.</p><p>Another noteworthy point is that among the top ten, Royal Dutch Shell,<a href=\"https://laohu8.com/S/BP\">BP</a>company,<a href=\"https://laohu8.com/S/CVX\">Chevron</a>Company, USA<a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a>The companies are all petrochemical enterprises.</p><p>In other words, in 2006, petrochemical companies accounted for five of the world's ten largest companies.</p><p><img src=\"https://static.tigerbbs.com/a05d48e79c0f57ea523f43697f69fdfa\" tg-width=\"660\" tg-height=\"665\" referrerpolicy=\"no-referrer\"></p><p>Top Ten of Fortune Global 500 in 2006</p><p>Looking at the 2020 list, petrochemical companies still occupy 5 of the top ten spots.</p><p><img src=\"https://static.tigerbbs.com/1c6271323e9fc6dd54a697ead7c24fc9\" tg-width=\"593\" tg-height=\"735\" referrerpolicy=\"no-referrer\"></p><p>Top 10 of the 2020 Fortune Global 500</p><p>However, American companies have undergone significant changes.</p><p>In 2005, three U.S. petrochemical companies ranked among the top ten; In 2020, they were all eliminated.</p><p>The collective decline of American petrochemical companies could be analyzed in another article.</p><p>The conservatism of American petrochemical companies may be one of the reasons.</p><p>Unlike those focused on the oil and gas sector, European petrochemical companies have taken the lead.</p><p>BP announced that it will increase its investment in low-emission businesses tenfold over the next 10 years to $5 billion annually, while reducing oil and gas production by 40%.</p><p><a href=\"https://laohu8.com/S/SNP\">Sinopec</a>、<a href=\"https://laohu8.com/S/PTR\">PetroChina</a>It is also undergoing transformation.</p><p>Recently,<a href=\"https://laohu8.com/S/600028\">Sinopec</a>A plan has been announced to deploy 5,000 charging and battery swapping stations, 1,000 hydrogen refueling stations or oil-hydrogen combined stations, and 7,000 distributed photovoltaic power generation stations by 2025.</p><p><img src=\"https://static.tigerbbs.com/b7dc7c42418bdd914f31fab0e6a0e600\" tg-width=\"500\" tg-height=\"326\" referrerpolicy=\"no-referrer\"></p><p>Battery swapping station inside Sinopec gas station</p><p><a href=\"https://laohu8.com/S/601857\">PetroChina</a>They are also exploring the \"oil + electricity\" transformation in many provinces and cities across the country, putting integrated energy supply service stations into operation, combining gas stations and charging piles to provide services for new energy vehicle owners.</p><p>This inward-looking strategic transformation requires courage and is also an important measure to hedge against risks in the traditional petrochemical industry.</p><p>Low-carbon emission reduction has become the trend of the times, and the global energy system is undergoing profound changes.</p><p>Ignoring or even resisting this trend will eventually lead to being abandoned by the times. Disclaimer: The content of this article represents only the views of the author of the submitted article and does not represent the position of Muddy Waters. Please indicate the contributor's name and attach the source (Muddy Waters) when reprinting.<b>Muddy Waters reserves the right to pursue legal action against those who fail to reproduce content in accordance with regulations.</b></p>","source":"lsy1568269639741","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>Are we about to be eliminated by the times? The world's most powerful company suffered a huge loss of $22.4 billion</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\">\nAre we about to be eliminated by the times? The world's most powerful company suffered a huge loss of $22.4 billion\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\"> 正解局</strong><span class=\"h-time small\">2021-06-28 16:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In 2005, three U.S. petrochemical companies ranked among the top ten; In 2020, they were all eliminated. Original article by Zhengjieju</p><p>About 14 years ago, the world's most powerful company was<a href=\"https://laohu8.com/S/XOM\">ExxonMobil</a>。</p><p>This oil company ranked first in the world in revenue in 2006 and first in market capitalization in 2007, enjoying unparalleled success.</p><p>Today, ExxonMobil's market capitalization has shrunk by half, and its operating revenue in 2020 was a loss of $22.4 billion.</p><p>What has ExxonMobil done wrong in just over a decade?</p><p>Are petrochemical companies really having a tough time?</p><p><img src=\"https://static.tigerbbs.com/1ffefa502a3b3b7343aa17156a17e8d6\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\">ExxonMobil, from a prestigious family.</p><p>Its predecessor was the famous Standard Oil Company founded by Rockefeller.</p><p>This largest crude oil producer in the United States monopolizes 95% of the country's refining capacity, 90% of its transportation capacity, and 25% of its crude oil production.</p><p>The extent of the monopoly is unprecedented and unprecedented in American history.</p><p>Because it was so powerful, in 1911 the Standard Oil empire was broken up into about 37 regional oil companies.</p><p>Among them, the largest is Exxon (Standard Oil of New Jersey).</p><p>The general trend of the world will inevitably divide after a long time, and unite after a long time.</p><p>In 1999, ExxonMobil (Standard Oil of New Jersey) and Mobil merged to form ExxonMobil, transforming it into the world's largest oil company.</p><p>A Big Mac is a Big Mac. In the second year after the merger, ExxonMobil appeared on the Fortune Global 500 list, ranking third.</p><p><img src=\"https://static.tigerbbs.com/de976cf6d27f46cb0cf233283bc0397d\" tg-width=\"435\" tg-height=\"539\" referrerpolicy=\"no-referrer\">Top Ten of Fortune Global 500 in 2000</p><p>Since then, ExxonMobil has consistently ranked among the top 5 on the World 500 list. In 2006, it rose to number one in the world.<img src=\"https://static.tigerbbs.com/a05d48e79c0f57ea523f43697f69fdfa\" tg-width=\"660\" tg-height=\"665\" referrerpolicy=\"no-referrer\">Top Ten of Fortune Global 500 in 2006</p><p>2007 was also ExxonMobil's highlight year, with its market capitalization firmly ranking first in the world, reaching a peak of $525 billion.</p><p>This is such a powerful company. Its 2020 financial report showed a loss of $22.44 billion, marking its first loss since the merger and possibly one of the largest loss-making companies in the world.</p><p>The latest market capitalization is only $273.9 billion, only half of its peak.</p><p><img src=\"https://static.tigerbbs.com/93e38d7e4eaef842e365b7effdf8da04\" tg-width=\"840\" tg-height=\"470\">Today, ExxonMobil's market capitalization is only $272.4 billion, barely topping the list.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One-tenth of its $2.24 trillion market capitalization.</p><p>To cope with the losses, ExxonMobil decided to lay off employees, suspend bonuses, and sell assets to save itself.</p><p>After announcing 14,000 job cuts globally in 2020 and 2022, ExxonMobil also plans to reduce the number of employees in its U.S. offices by 5% to 10% annually over the next three to five years.</p><p>Based on ExxonMobil's workforce composition, the U.S. office lays off 1,000 to 3,000 people each year.</p><p>ExxonMobil has also taken measures such as suspending bonus payments and stopping matching employee contributions to 401k savings plans.</p><p>In addition, ExxonMobil will sell its stake in 15 oil fields to recover some blood.<img src=\"https://static.tigerbbs.com/896a25d58495644c16903bb72d3ef94d\" tg-width=\"554\" tg-height=\"370\" referrerpolicy=\"no-referrer\">ExxonMobil chemical plant in Baytown, Texas</p><p>Ordinary employees face the risk of unemployment, and senior management is also having a tough time.</p><p>Previously, ExxonMobil replaced a quarter of its board members due to climate and financial issues.</p><p><img src=\"https://static.tigerbbs.com/c3e19a6be56cb21660acb2bd3624b49d\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p>ExxonMobil's losses were due to chance factors.</p><p>It's worth noting that in 2019, they also earned a net profit of $14.34 billion.</p><p>The huge losses in 2020 were due to the COVID-19 pandemic.</p><p>Due to the impact of the pandemic, oil demand has declined, and international oil prices have also plummeted. For details, please refer to the article \"Sending 84 giant ships to buy oil at the bottom, has China become the biggest winner of the 'oil war'?\" by Zhengjieju.</p><p><img src=\"https://static.tigerbbs.com/e36c5ed02f7d9f7a3b6803cee6cead1d\" tg-width=\"660\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p><p>Crude oil price trend chart in recent years</p><p>With declining sales and lower prices, ExxonMobil's revenue has naturally been greatly affected.</p><p>You see, as the pandemic gradually came under control and international oil prices began to rise, ExxonMobil's revenue began to \"come back to life\".</p><p>The company's net profit attributable to ordinary shareholders for the first fiscal quarter of 2021 was $2.73 billion.</p><p>If we go back to 2019, before the pandemic, we will find that ExxonMobil's net profit also declined compared to 2018.</p><p>Considering its declining market capitalization, ExxonMobil's decline is already a major trend.</p><p>Therefore, there must be internal factors behind ExxonMobil's decline.</p><p>First, the investment failed.</p><p>Energy companies like petrochemicals are engaged in the business of buying and selling energy.</p><p>To develop well, we need to rely on the mergers and expansions of our patriarch, Rockefeller.</p><p>ExxonMobil did inherit this well, early on when the two merged to become the world's largest oil company.</p><p>In its subsequent operations, ExxonMobil continuously purchased high-quality upstream oil and gas assets, with the wishful thinking of \"buying low and selling high\".</p><p>However, sometimes things don't go as planned.</p><p>In 2009, taking advantage of the international financial crisis, ExxonMobil spent a whopping $41 billion to acquire XTO Energy in the United States, acquiring fracking technology and valuable natural gas fields.</p><p>I originally hoped to make a fortune thanks to the surge in natural gas prices. Who would have thought that it would end up on the mountaintop?</p><p>As commodity prices fell in the following years, ExxonMobil invested in losses and eventually withdrew most of its investments.</p><p>Data from investment bank Evercore ISI shows that ExxonMobil spent $261 billion on capital between 2009 and 2019.</p><p>Not only did oil and gas production not expand much, but it actually increased debt by $45 billion.</p><p><img src=\"https://static.tigerbbs.com/a59dc22a96ff6d5e35155840a6e88e07\" tg-width=\"554\" tg-height=\"738\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/1ee1f70017b5261ef909bca6227bfdfa\" tg-width=\"601\" tg-height=\"800\" referrerpolicy=\"no-referrer\"></p><p>ExxonMobil's Investments and Debts</p><p>Secondly, there was a strategic mistake.</p><p>ExxonMobil is very aggressive in investing in oil and gas resources, but very conservative in new energy.</p><p>Like other U.S. oil companies, ExxonMobil believes that demand for oil and gas energy will not decrease in the short term, and that switching to new energy sources would be foolish.</p><p>ExxonMobil is indeed quite stubborn. On the one hand, it looks down on new energy sources, and on the other hand, it invests $1 billion annually in research on \"carbon capture and storage technology\".</p><p><img src=\"https://static.tigerbbs.com/7b9047c394c310e89c3534276bbb39c4\" tg-width=\"660\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p>Schematic diagram of \"Carbon capture and storage technology\"</p><p>This technology, simply put, involves collecting carbon dioxide produced by industrial activities and storing it using various methods to prevent it from being released into the atmosphere.</p><p>ExxonMobil's little idea was that since the reason for not allowing the use of oil was because they were afraid of carbon emissions, they might as well capture and sequester the carbon, so that they could allow the use of oil.</p><p>The ideal is lofty, but the reality is harsh.</p><p>This technology has been researched for forty or fifty years, but there has been little substantial progress.</p><p>ExxonMobil probably \"clicked on the wrong technology tree\".</p><p>Your butt determines your head; that's really unacceptable.</p><p><img src=\"https://static.tigerbbs.com/e76a5235faa31191b4c32e86aa9e1632\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p>Does ExxonMobil's decline mean that petrochemical companies are having a tough time?</p><p>To be precise, it's American petrochemical companies that are having a tough time.</p><p>Let's first look at the 2006 Fortune Global 500, where ExxonMobil ranked first in the world.</p><p>Another noteworthy point is that among the top ten, Royal Dutch Shell,<a href=\"https://laohu8.com/S/BP\">BP</a>company,<a href=\"https://laohu8.com/S/CVX\">Chevron</a>Company, USA<a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a>The companies are all petrochemical enterprises.</p><p>In other words, in 2006, petrochemical companies accounted for five of the world's ten largest companies.</p><p><img src=\"https://static.tigerbbs.com/a05d48e79c0f57ea523f43697f69fdfa\" tg-width=\"660\" tg-height=\"665\" referrerpolicy=\"no-referrer\"></p><p>Top Ten of Fortune Global 500 in 2006</p><p>Looking at the 2020 list, petrochemical companies still occupy 5 of the top ten spots.</p><p><img src=\"https://static.tigerbbs.com/1c6271323e9fc6dd54a697ead7c24fc9\" tg-width=\"593\" tg-height=\"735\" referrerpolicy=\"no-referrer\"></p><p>Top 10 of the 2020 Fortune Global 500</p><p>However, American companies have undergone significant changes.</p><p>In 2005, three U.S. petrochemical companies ranked among the top ten; In 2020, they were all eliminated.</p><p>The collective decline of American petrochemical companies could be analyzed in another article.</p><p>The conservatism of American petrochemical companies may be one of the reasons.</p><p>Unlike those focused on the oil and gas sector, European petrochemical companies have taken the lead.</p><p>BP announced that it will increase its investment in low-emission businesses tenfold over the next 10 years to $5 billion annually, while reducing oil and gas production by 40%.</p><p><a href=\"https://laohu8.com/S/SNP\">Sinopec</a>、<a href=\"https://laohu8.com/S/PTR\">PetroChina</a>It is also undergoing transformation.</p><p>Recently,<a href=\"https://laohu8.com/S/600028\">Sinopec</a>A plan has been announced to deploy 5,000 charging and battery swapping stations, 1,000 hydrogen refueling stations or oil-hydrogen combined stations, and 7,000 distributed photovoltaic power generation stations by 2025.</p><p><img src=\"https://static.tigerbbs.com/b7dc7c42418bdd914f31fab0e6a0e600\" tg-width=\"500\" tg-height=\"326\" referrerpolicy=\"no-referrer\"></p><p>Battery swapping station inside Sinopec gas station</p><p><a href=\"https://laohu8.com/S/601857\">PetroChina</a>They are also exploring the \"oil + electricity\" transformation in many provinces and cities across the country, putting integrated energy supply service stations into operation, combining gas stations and charging piles to provide services for new energy vehicle owners.</p><p>This inward-looking strategic transformation requires courage and is also an important measure to hedge against risks in the traditional petrochemical industry.</p><p>Low-carbon emission reduction has become the trend of the times, and the global energy system is undergoing profound changes.</p><p>Ignoring or even resisting this trend will eventually lead to being abandoned by the times. Disclaimer: The content of this article represents only the views of the author of the submitted article and does not represent the position of Muddy Waters. Please indicate the contributor's name and attach the source (Muddy Waters) when reprinting.<b>Muddy Waters reserves the right to pursue legal action against those who fail to reproduce content in accordance with regulations.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/7-k9ecgcKloqfvP1ovs-4w\"> 正解局</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/896a25d58495644c16903bb72d3ef94d","relate_stocks":{"XOM":"埃克森美孚"},"source_url":"https://mp.weixin.qq.com/s/7-k9ecgcKloqfvP1ovs-4w","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146881622","content_text":"2005年，美国有3家石化企业跻身前十强；2020年，全部出局。正解局原创\n14年前左右，全球最牛的公司是埃克森美孚。\n这家石油公司，2006年营业收入高居全球第一，2007年市值又高居全球第一，风头一时无两。\n今天，埃克森美孚市值缩水一半，2020年营业收入更是亏损了224亿美元。\n短短十多年，埃克森美孚做错了什么？\n石化企业，日子真的不好过了吗？\n埃克森美孚，出身名门。\n其前身，便是洛克菲勒创办的大名鼎鼎的标准石油公司。\n这家美国最大的原油生产商，垄断了美国95%的炼油能力、90%的输油能力、25%的原油产量。\n垄断力度之大，在美国历史上，前无古人，亦后无来者。\n因为实在过于强大，1911年，标准石油帝国被拆分为约37家地区性石油公司。\n其中，最大的那一家，便是埃克森（新泽西标准石油）。\n天下大势，合久必分，分久必合。\n1999年，埃克森石油（新泽西标准石油）与美孚石油合并为埃克森美孚公司，摇身一变，又成为了世界第一大石油公司。\n巨无霸就是巨无霸。合并的第二年，埃克森美孚登上了财富世界500强榜单，位列第三名。\n2000年世界500强排行榜前十\n此后，埃克森美孚便常年在世界500榜单前5强。2006年，更是一举跃居世界第一。2006年世界500强排行榜前十\n2007年也是埃克森美孚的高光时刻，市值稳居全球第一，峰值时期曾达到5250亿美元。\n就是这么一家牛逼的公司，2020年的财报显示，亏损224.40亿美元，这是合并以来首次亏损，可能也是全球亏损最多的公司之一。\n最新的市值，也只有2739亿美元，仅为巅峰时期的一半。\n而到如今，埃克森美孚的市值仅为2724亿美元，勉强达到榜首苹果的2.24万亿美元市值的1/10。\n为了应对亏损，埃克森美孚决定裁员、暂停发奖金、卖资产以自救。\n自2020年宣布到2022年在全球裁员14000人之后，埃克森美孚还计划在未来三到五年内，将其美国办事处的员工人数每年减少5%至10%。\n按照埃克森美孚的员工构成，美国办事处每年要裁掉1000到3000人。\n埃克森美孚还采取暂停发放奖金、停止员工对401k储蓄计划的贡献匹配等措施。\n此外，埃克森美孚将出售15个油田的股份，回点血。位于得克萨斯州贝敦的埃克森美孚化工厂\n普通员工面临失业风险，高层的日子也不好过。\n此前，因气候和财务问题，埃克森美孚更换了四分之一的董事会成员。\n\n埃克森美孚亏损，有偶然因素。\n要知道，2019年，他们还赚了143.40亿美元的净利润。\n2020年巨亏，这个偶然因素就是新冠疫情。\n受疫情影响，石油需求下降，国际油价也大跌，具体可看正解局《派84艘巨轮抄底石油，中国成为“石油大战”最大赢家？》这篇文章。\n\n近几年的原油价格走势图\n销量下降，价格又降低，埃克森美孚的营收自然大受影响。\n你看，随着疫情逐步被控制，国际油价开始上升，埃克森美孚的营收，又开始“起死回生”。\n公司2021财年第一财季显示，归属于普通股东净利润为27.30亿美元。\n如果我们回到疫情之前的2019年，会发现，与2018年相比，埃克森美孚的净利润也是下降的。\n再联系其一路下跌的市值，埃克森美孚衰退，已是大势。\n因此，埃克森美孚的衰退背后，肯定有着内在因素。\n其一，投资失败。\n像石化这样的能源企业，做的就是买卖能源的生意。\n要想发展得好，就要靠祖师爷洛克菲勒兼并、扩产那一套。\n埃克森美孚确实很好地继承了这一点，早期便是两家合并，一举登顶全球最大石油企业。\n在此后的经营中，埃克森美孚不断购买优质上游油气资产，打的是“低买高卖”的如意算盘。\n然而，有时候人算不如天算。\n2009年，趁着国际金融危机，埃克森美孚豪掷410亿美元收购美国XTO能源公司，拿下压裂技术和珍贵的天然气田。\n本来期望靠天然气大涨，狠赚一把。谁承想，抄在了山顶。\n随着此后几年大宗商品价格的下跌，埃克森美孚投资陷入亏损，最终撤销了大部分投资。\n投资银行Evercore ISI的数据显示，2009年至2019年期间，埃克森美孚的资本支出为2610亿美元。\n不仅油气产量没扩大多少，反而增加了450亿美元的债务。\n\n埃克森美孚的投资与债务\n其二，战略失误。\n埃克森美孚在投资油气资源上，非常激进，在新能源上，又很保守。\n如其他美国石油企业一样，埃克森美孚也认为，短期内，油气能源需求不会减少，转向新能源是愚蠢。\n埃克森美孚确实比较顽固，一方面看不上新能源，另一方面每年投资10亿美元在“碳捕获与封存技术”研究上。\n\n“碳捕获与封存技术”示意图\n这项技术，简单来说，就是将工业生活活动所产生的二氧化碳收集起来，并用各种方法储存，以避免其排放到大气中。\n埃克森美孚的小心思是，既然不让用石油的原因是怕碳排放，那我索性把碳捕捉并封存起来，这样就可以让用石油了。\n理想很丰满，现实很骨感。\n这项技术研究了四五十年，也没什么实质性的进展。\n埃克森美孚大概是“点错了科技树”。\n屁股决定脑袋，实在要不得。\n\n埃克森美孚的衰退，是不是意味着石化企业，日子不好过了？\n准确地说，是美国石化企业，日子不好过了。\n还是先看2006年世界500强，埃克森美孚位居世界第一。\n另一个值得注意的情况是，前十强中，荷兰皇家壳牌石油公司、英国石油公司、雪佛龙公司、美国康菲石油公司都是石化企业。\n也就是说，2006年全球最大的十家公司，石化企业独占5家。\n\n2006年世界500强排行榜前十\n再看2020年榜单，前十强中，石化企业依然占据5席。\n\n2020年世界500强排行榜前十\n只是，美国企业变化比较大。\n2005年，美国有3家石化企业跻身前十强；2020年，全部出局。\n美国石化企业的集体性衰退，可以另写一篇文章分析。\n美国石化企业的保守，可能是原因之一。\n与固守油气领域不同，欧洲石化企业已先行一步。\n英国石油公司宣布，未来10年将把低排放业务的投资增加10倍，达到每年50亿美元，同时将油气产量缩减40%。\n中石化、中石油也在转型。\n最近，中国石化对外宣布了一项规划，到2025年将布局5000座充换电站，1000座加氢站或油氢合建站，以及7000座分布式光伏发电站点。\n\n中石化加油站内换电站\n中国石油也在全国多个省市探索“油＋电”转型，投运综合供能服务站，将加油站与充电桩合二为一，为新能源车主提供服务。\n这种刀刃向内的战略转型，需要勇气，也是对冲传统石化行业风险的重要举措。\n低碳减排已成时代大势，全球能源体系正发生深刻变化。\n无视乃至抵制这种趋势，终将为时代所抛弃。声明：本文内容仅代表该投稿文章作者观点，不代表浑水号立场。转载请注明投稿人姓名并附上本文出处（浑水号）。未按照规范转载者，浑水号保留追究相应责任的权利","news_type":1,"symbols_score_info":{"XOM":0.9}},"isVote":1,"tweetType":1,"viewCount":7015,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129230303,"gmtCreate":1624373200102,"gmtModify":1703834841795,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ?&nbsp;","listText":"? ?&nbsp;","text":"? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129230303","repostId":"1142464181","repostType":4,"repost":{"id":"1142464181","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":1624372497,"share":"https://ttm.financial/m/news/1142464181?lang=en_US&edition=fundamental","pubTime":"2021-06-22 22:34","market":"us","language":"zh","title":"Missfresh's pricing range is $13-16 per ADS, with existing shareholders continuing to increase their investments.","url":"https://stock-news.laohu8.com/highlight/detail?id=1142464181","media":"老虎资讯综合","summary":"北京时间6月22日晚间消息，每日优鲜更新F-1招股书，计划公开发行2100万股美国存托股票（ADS），定价区间为13-16美元/ADS。\n现有股东中金、腾讯、美国长线基金Davis等将持续加码，购买至","content":"<p>Beijing time, June 22nd evening news,<a href=\"https://laohu8.com/S/MF\">Missfresh</a>The F-1 prospectus has been updated, with plans to publicly offer 21 million American Depositary Shares (ADSs) at a price range of $13-16 per ADS.</p><p>Existing shareholders: CICC<a href=\"https://laohu8.com/S/00700\">Tencent</a>US long-term fund Davis and others will continue to increase their investments, purchasing up to $90 million worth of ADSs.</p><p>According to the prospectus, Missfresh's net revenue was approximately RMB 3.5467 billion, RMB 6.0014 billion, and RMB 6.1304 billion in 2018, 2018, and 2020, respectively. For the three months ended March 31, 2020, Missfresh's net revenue was RMB 1.6898 billion, and for the three months ended March 31, 2021, net revenue was RMB 1.5302 billion.</p><p>The prospectus also shows that Missfresh's gross profit was RMB 304 million in 2018, increased by 71.3% to RMB 520.9 million in 2019, and increased by another 128.5% to RMB 1.1904 billion in 2020. For the three months ended March 31, 2020, Missfresh's gross profit was RMB 510.8 million, compared to RMB 189 million in the same period of 2021.</p><p>From 2018 to 2020, Missfresh's net losses were RMB 2.2316 billion, RMB 2.9094 billion, and RMB 1.649.2 billion, respectively. For the quarter ending March 31, 2020, Missfresh reported a net loss of 194.7 million yuan, compared to a loss of 610.3 million yuan in the same period of 2021. In 2018, 2019 and 2020, Missfresh's adjusted net loss (non-GAAP standard) was RMB 2.215.9 billion, RMB 2.777 billion and RMB 1.5897 billion, respectively. For the quarter ending March 31, 2020, Missfresh reported an adjusted net loss of RMB 175.8 million, compared to a loss of RMB 598.4 million in the same period of 2021.</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>Missfresh's pricing range is $13-16 per ADS, with existing shareholders continuing to increase their investments.</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\">\nMissfresh's pricing range is $13-16 per ADS, with existing shareholders continuing to increase their investments.\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\">2021-06-22 22:34</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Beijing time, June 22nd evening news,<a href=\"https://laohu8.com/S/MF\">Missfresh</a>The F-1 prospectus has been updated, with plans to publicly offer 21 million American Depositary Shares (ADSs) at a price range of $13-16 per ADS.</p><p>Existing shareholders: CICC<a href=\"https://laohu8.com/S/00700\">Tencent</a>US long-term fund Davis and others will continue to increase their investments, purchasing up to $90 million worth of ADSs.</p><p>According to the prospectus, Missfresh's net revenue was approximately RMB 3.5467 billion, RMB 6.0014 billion, and RMB 6.1304 billion in 2018, 2018, and 2020, respectively. For the three months ended March 31, 2020, Missfresh's net revenue was RMB 1.6898 billion, and for the three months ended March 31, 2021, net revenue was RMB 1.5302 billion.</p><p>The prospectus also shows that Missfresh's gross profit was RMB 304 million in 2018, increased by 71.3% to RMB 520.9 million in 2019, and increased by another 128.5% to RMB 1.1904 billion in 2020. For the three months ended March 31, 2020, Missfresh's gross profit was RMB 510.8 million, compared to RMB 189 million in the same period of 2021.</p><p>From 2018 to 2020, Missfresh's net losses were RMB 2.2316 billion, RMB 2.9094 billion, and RMB 1.649.2 billion, respectively. For the quarter ending March 31, 2020, Missfresh reported a net loss of 194.7 million yuan, compared to a loss of 610.3 million yuan in the same period of 2021. In 2018, 2019 and 2020, Missfresh's adjusted net loss (non-GAAP standard) was RMB 2.215.9 billion, RMB 2.777 billion and RMB 1.5897 billion, respectively. For the quarter ending March 31, 2020, Missfresh reported an adjusted net loss of RMB 175.8 million, compared to a loss of RMB 598.4 million in the same period of 2021.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1bc6d948584260429c150c1dd44a898f","relate_stocks":{"MF":"MindForge Inc."},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142464181","content_text":"北京时间6月22日晚间消息，每日优鲜更新F-1招股书，计划公开发行2100万股美国存托股票（ADS），定价区间为13-16美元/ADS。\n现有股东中金、腾讯、美国长线基金Davis等将持续加码，购买至多价值9000万美元的ADS。\n招股书显示，每日优鲜2018年-2020年的净营收分别约为35.467亿元， 60.014亿元，61.304亿元。截止2020年3月31日的三个月，每日优鲜的净营收为16.898亿元，截止2021年3月31日的三个月，净营收为15.302亿元。\n招股书还显示，每日优鲜的毛利润在2018年为3.04亿元，2019年增长71.3%了至5.209亿元，2020年再增长128.5%，达到11.904亿元。截止2020年3月31日的三个月，每日优鲜的毛利为5.108亿元，2021年的同期为1.89亿元。\n2018年至2020年，每日优鲜净亏损分别为22.316亿元，29.094亿元、16.492亿元。截止2020年3月31日的一个季度，每日优鲜净亏损1.947亿元，2021年同期亏损6.103亿元。2018年、2019年和2020年，每日优鲜的调整后净亏损（非GAAP标准）分别为22.159亿元、27.77亿元、15.897亿元。截止2020年3月31日的一个季度，每日优鲜调整后净亏损为1.758亿元，2021年同期亏损5.984亿元。","news_type":1,"symbols_score_info":{"MF":0.9}},"isVote":1,"tweetType":1,"viewCount":4891,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130843291,"gmtCreate":1621525940013,"gmtModify":1704359163227,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ?&nbsp;","listText":"? ? ?&nbsp;","text":"? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/130843291","repostId":"1188576028","repostType":4,"isVote":1,"tweetType":1,"viewCount":6969,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190942789,"gmtCreate":1620575882641,"gmtModify":1704345112391,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ?&nbsp;","listText":"? ? ? ?&nbsp;","text":"? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/190942789","repostId":"1164615477","repostType":4,"isVote":1,"tweetType":1,"viewCount":6529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104277450,"gmtCreate":1620396167170,"gmtModify":1704343105758,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ?&nbsp;","listText":"? ? ?&nbsp;","text":"? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/104277450","repostId":"2133050027","repostType":4,"repost":{"id":"2133050027","kind":"news","pubTimestamp":1620395795,"share":"https://ttm.financial/m/news/2133050027?lang=en_US&edition=fundamental","pubTime":"2021-05-07 21:56","market":"us","language":"zh","title":"After reading Bezos's letter to shareholders 23 years ago, I learned these things.","url":"https://stock-news.laohu8.com/highlight/detail?id=2133050027","media":"36氪","summary":"编者按：一家企业的致股东的信往往能反映这个企业及领导者的价值观和理念。在所有致股东的信中，研究最多的是巴菲特致股东的信。除此之外，亚马逊作为一个伟大的互联网零售企业，其领导者贝索斯致股东的信也值得深入","content":"<p>Editor's Note: A company's letter to shareholders often reflects the values and philosophies of the company and its leaders. Of all the letters to shareholders, Buffett's letter to shareholders has been the most studied. In addition, as a great internet retail company, Amazon's leader Jeff Bezos's letter to shareholders is also worth studying in depth. This article reviews Bezos's letters to shareholders over the past 23 years, condensing the essence of the letters to share with you. This article was translated from Medium by Sumit Grrg, originally titled \"Read 23 Years Worth of Jeff Bezos' Amazon Shareholder Letters — Here's What I Learned\"， Hopefully, this will inspire you.</p><p><img src=\"https://static.tigerbbs.com/02c1e7f37ab0059568a615de8884c1b1\" tg-width=\"550\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Jeff Bezos speaks after accepting the 2019 International Astronautical Federation Industrial Excellence Award in Washington, D.C., on October 22, 2019. pictures :MANDEL NGAN/AFP/Getty Images</p><p>In the early 1990s, few people had heard of the Internet. Jeff Bezos happens to be one of those who has heard of the concept of the Internet.</p><p>Bezos saw that the internet was growing at a rate of 2,300 percent per year, and he decided to come up with a business idea to ride this wave. He made a list of products to sell online and quickly locked in books.</p><p>Bezos originally named his online bookstore Cadabra. But just three months later, he changed his name to the Amazon, after the largest river on Earth, which is naturally the choice of most people on Earth. Although the company still lives up to its name today, it has come a long way to get to where it is today. In the early days of his startup, Bezos held more than 50 meetings to raise $1 million from investors. The most common question in these meetings was, \"What is the Internet?\"</p><p>Today, Amazon's market capitalization is close to $1.7 trillion. Jeff Bezos, who was recently surpassed by Elon Musk, has topped the list of the world's richest people for the third consecutive year.</p><p>But for Bezos, the title of \"world's richest man\" is not that valuable, because he prefers to be called an inventor or entrepreneur. He's right. The outgoing Amazon CEO is one of the world's finest entrepreneurs. Jeff Bezos forever changed the way we shop, transforming (and disrupting) multiple industries.</p><p>Over the past few years, I have repeatedly read every open letter Bezos has written to Amazon shareholders over the past 23 years. These letters not only provide us with a brief history of Amazon, but also give us a deeper understanding of the masterminds behind this massive internet company.</p><p>The following is a summary of the key points in these letters.</p><p><b>1997: Pursue long-term leadership, not short-term profitability</b></p><p>By selling books online, Amazon discovered a unique opportunity and began offering customers a much wider selection of books than in physical stores, \"and in bookstores that are open 24 hours a day, 365 days a year, presented to customers in a useful, easy-to-search, and easy-to-navigate format.\"</p><p>Amazon went public in 1997, and shortly after that, Bezos wrote his first letter to shareholders, which truly reflected his now famous Day-1 mentality—a principle widely adopted in the entrepreneurial community: to always maintain the same initial enthusiasm and passion for the company as in its early days.</p><p>\"The internet was, and still is, the wait of the whole world.\"</p><p>Bezos has long-term goals, and he makes decisions and weighs trade-offs differently from most other business leaders:</p><p>Continuous focus on customers.</p><p>Prioritize growth (scale), long-term market leadership, and long-term profitability over short-term profitability. Amazon hopes to solidify its market leadership amidst fierce competition from numerous large entrants and companies such as bookselling giant Barnes & Noble.</p><p>Hiring and retaining talent, with a compensation structure that emphasizes stock options rather than cash, and using \"benefits linked to risk sharing\" to make them think and act like masters.</p><p>Like a true dreamer, Bezos was visionary from the start: \"Today, e-commerce saves customers money and time. Tomorrow, through personalization, it will accelerate the entire discovery process.\"</p><p><b>1998: 3 criteria to consider when recruiting</b></p><p>Bezos stated that setting high barriers to entry during hiring is the most important factor in Amazon's success. At the hiring meeting, he suggested that managers consider the following three questions:</p><p>1. Would you admire this person? The person you admire is someone you can learn from.</p><p>2. Will this person improve the team's average efficiency level? The threshold must be increasingly high.</p><p>3. To what extent is this person likely to become a superstar? Most people have unique skills that can enrich the work environment for everyone else.</p><p><b>1999: Today is good enough, but it can get better</b></p><p>“The current online shopping experience is the worst. It’s already attracting 17 million users, but it will only get better.” Bezos, with his sights set on long-term success and business dominance, is determined to build a culture that will never be stable at Amazon.</p><p>After adding discounted music to its online retail offerings in 1998, Amazon took a series of major initiatives in 1999, including the introduction of zShops (now Marketplace), a trading platform that supports third-party sellers, and a \"one-click\" payment solution that revolutionized e-commerce checkout.</p><p><b>2000: A company that wants to be a heavyweight</b></p><p>Bezos's letter this year begins with one word: \"Ouch.\"</p><p>Although Amazon was one of the few internet companies to survive the bursting of the dot-com bubble, its stock price plummeted from $116 at the peak of the dot-com bubble to $6.</p><p>To explain the turmoil caused by the stock market crash, Bezos borrowed the words of investor Benjamin Graham, who once said, \"In the short term, the stock market is a voting machine; in the long term, it is a weighing machine.\"</p><p>Amazon, as Bezos said in his letter to shareholders, is a \"company that wants to be weighed.\"</p><p>In another letter, he added, “We won’t celebrate a 10% increase in stock price the way we celebrate an excellent customer experience. A 10% increase in stock price doesn’t increase our intelligence by 10%, and conversely, we won’t be 10% stupid when stock prices fall. We want to be weighed, and we’ve been working hard to build a heavier company.”</p><p><b>2001: Eliminating errors at their root</b></p><p>Bezos launched features such as \"Look Inside the Book,\" a free program that allows authors and publishers to promote their books. Bezos emphasized Amazon's efforts to always improve the customer experience while encouraging merchants and small businesses to thrive in its ecosystem.</p><p>Bezos added, \"One of the most important things we do to improve customer convenience and experience happens to be a huge driver of variable cost productivity: fundamentally eliminating errors and mistakes.\" Because when you implement an eradication program, you're not just solving a customer's problem, but also solving a problem for every customer. Bezos said, \"Eliminating the root causes of errors can save us money and save our customers time.\"</p><p><b>2002: What's good for customers is good for shareholders</b></p><p>For example, Bezos insists on constantly lowering prices to beat competitors and win customers. In the long run, increased sales will in turn drive profit growth, which is best for shareholders.</p><p><b>2003: Long-term investment, being the real master</b></p><p>“I know a couple who rented out their house, and the family who moved in nailed the Christmas tree to the hardwood floor instead of using a tree stand. I think it was a stopgap measure. Admittedly, these tenants were terrible, but no landlord would be so short-sighted. Landlords and tenants are different.” Long-term thinking is both a necessary condition and a result of true mastery.</p><p>Bezos added, \"Similarly, many investors are actually short-term tenants whose portfolios change very quickly, essentially just renting stocks they hold temporarily.\" Bezos reiterated that his business case is to remain optimistic about the long-term vision.</p><p>In 2003, at an executive retreat held at Bezos's home, the seeds of the cloud computing business Amazon Web Services (AWS) were planted. This business was initially invented to help Amazon solve its own problems, but it quickly became obvious that every company wanted it. Today, AWS has dominated the public cloud market and become the company's largest source of profit. A few years later, when commenting on the success of AWS, Bezos spoke about what he considered a business miracle: \"We didn't encounter a competitor with similar views for seven whole years. As a pioneer, if you're lucky, you can probably get a two-year lead. But no one can get a seven-year lead, which is simply unbelievable.\"</p><p><b>2004: Cash is King</b></p><p>“Cash flow best explains a company’s long-term stock price. Amazon has a cash-generating operating cycle because it turns around quickly and can collect payments from customers before paying suppliers.”</p><p>Free cash flow is the reason Amazon continues to grow despite low profits, year after year. For ease of understanding, here is an excerpt from Vox explaining how \"small profits\" compound over time:</p><p>\"Free cash flow is somewhat similar to profit, except it doesn't assume that Amazon has to pay everything within the same timeframe for selling items. And because of Amazon's payment cycle mechanism, companies often receive payment for items sold long before they have to pay for them. For example,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>It takes an average of three days to receive payment from suppliers, while Amazon pays suppliers an average of 18 days after receiving payment.</p><p><b>2005: Dare to make bold decisions</b></p><p>Bezos identified two types of decisions that companies must frequently face:</p><p>1. Mathematical-based decision-making: Decisions that can be made using data, where \"there is a right answer or a wrong answer, a better answer or a worse answer, and mathematics tells us which is which. These decisions still require us to make some assumptions and judgments, but the heaviest work is done by mathematics.\"</p><p>2. Judgment-based decision-making: \"While data, analysis, and mathematics all play a role, the main factor in these decisions is judgment. In this case, there is almost no historical data to guide us, and prospective experiments are either impossible, impractical, or no different from making decisions.\"</p><p>Bezos believes that \"any organization unwilling to tolerate controversy must limit its decision-making to the first type. But doing so not only limits controversy, but also significantly limits innovation and long-term value creation.\" He advises companies to \"combine their strong quantitative and analytical culture with a willingness to make bold decisions.\"</p><p>It was precisely because of this bold theme that 2005 was also the year Amazon Prime was born. It all started with the idea of a junior software engineer at Amazon to offer customers a \"fast, free delivery buffet\". By 2018, Amazon will become the second largest paid membership program, after Netflix. Moreover, Amazon Prime remains one of Amazon's most valuable and brand-recognized assets.</p><p><b>2006: Sowing seeds for new business</b></p><p>Bezos suggests carefully evaluating this checklist before investing in a new business:</p><p>Whether the new opportunity can generate the expected return on capital.</p><p>How large can it grow to?</p><p>Is the service in this market still inadequate?</p><p>Do you possess the necessary capabilities to introduce strong customer-facing differentiation to the market?</p><p>Bezos used the above factors to explain why Amazon has so far refused to open physical stores.</p><p>He said, \"The potential scale of the physical store network is exciting. However, we don't know how to achieve low capital and high returns. Retail in the physical world is a cautious and ancient industry with very well-developed services, and we don't have any new ideas to build a physical store that would give customers a better sense of differentiation.\"</p><p>He added, \"When you see us entering new business areas, it's because we believe the tests mentioned above have passed.\"</p><p>It wasn't until 2015 that Amazon opened its first physical bookstore. Then it will acquire<a href=\"https://laohu8.com/S/WFM\">Whole Foods Market</a>Whole Foods entered the grocery retail sector and opened an Amazon Go convenience store without cashiers.</p><p><b>2007: \"Missionaries\" can make better products</b></p><p>On November 19, 2007, Amazon introduced the Kindle e-reader to the world, redefining the way we consume books.</p><p>Bezos said, \"We set a long-term vision from the beginning: regardless of the language, as long as a book has been published, users can read it in 60 seconds. We started by setting ourselves an obviously very bold goal to improve the physical book. This goal is not easily chosen. Anything that exists in roughly the same form and resists changing for 500 years cannot be easily improved.\"</p><p>Bezos said that as an inventor, you are either a mercenary or a missionary. The mercenaries were thinking about how to sell their things. Missionaries, however, love their products, their customers, and strive to provide excellent service. He said, but paradoxically, \"it is often the missionaries who make more money.\" Products like the Kindle can only be created with pure passion and true belief.</p><p>\"The Kindle is designed for long periods of reading. We hope that the Kindle and its subsequent products will gradually extend the time we can concentrate on reading over several years, buffering the recent tendency to read fragmented information. I know I sound like a missionary, and I can assure you I mean it from the bottom of my heart.\" This is not just my idea; a large group of people in our company also have this idea. I'm happy about that, because the missionaries' dedication helps us create better products.</p><p>However, Bezos was quick to admit that innovation waits for no one. So, if you don't execute well or fast enough, others will seize the opportunity.</p><p><b>2008: Safeguarding the long-term interests of the company</b></p><p>Bezos wrote, \"Seeking immediate gratification or making unattainable promises, you'll likely find that a group of people are already ahead of you.\" Conversely, long-term thinking:</p><p>Give full play to our existing capabilities.</p><p>It allows us to do new things that we couldn't think of before.</p><p>Support the failures and iterations required for the invention.</p><p>Free us to explore the unknown.</p><p>This year, Amazon acquired Audible, which is now the leader in the audiobook market.</p><p><b>2009: Listen to our customers' voices and innovate for them.</b></p><p>Bezos's definition of Amazon's basic policy is: \"Start with the customer and work backwards. Listen to the customer's opinion, but don't just listen to the customer's opinion; invent for them.\"</p><p>Although he did not mention the now obvious and infamous rebuttal in his letter, \"If you can't beat them, then acquire them.\" Early footwear e-commerce giant Zappos is an example. After finding it difficult to catch up with the former, Amazon acquired it directly.</p><p><b>2010: Invention of new methods</b></p><p>Invention is a fundamental tool for developing and improving all aspects of the customer experience. “While many of our systems are based on the latest findings in computer science research, this is often not enough: our architects and engineers have to pursue further research in areas that have not yet been explored academically, and we face many problems that have not yet been solved in textbooks, so we are happy to invent new approaches,” Bezos wrote.</p><p>Corporate milestone: In July 2010, Amazon announced that in the three years since the Kindle was launched, e-book sales had surpassed physical books.</p><p><b>2011: The most radical inventions are those that \"enable others to pursue their dreams.\"</b></p><p>\"Even well-meaning gatekeepers can hinder innovation,\" Bezos said, emphasizing the self-service nature of various Amazon platforms, including Amazon Web Services, Marketplace, and Kindle Direct Publishing. \"When a platform is self-service, even unlikely ideas will be tried, and many of them are indeed feasible, and society is the beneficiary of this diversity.\"</p><p><b>2012: Prioritize customers over chasing competitors</b></p><p>Bezos believes that one of the advantages of focusing on customer orientation is that \"it helps with a certain type of initiative. When we're at our best, we don't have to wait for external pressure. Before we're forced to do it, we're already being pushed internally to improve our services, add benefits and features. We're already lowering prices and adding value for our customers before we're forced to.\" We invented it before we had to.”</p><p>He added, “These investments are motivated by a customer-centric approach rather than a reaction to competition. We believe this approach has earned more customer trust and driven rapid improvements in customer experience—importantly—even in areas where we have already become leaders.”</p><p><b>2013: Severance pay</b></p><p>Amazon pays employees severance pay once a year. Although, the title of this offer is \"Please do not accept this invitation\". “Our goal is to encourage people to take some time to think about what they really want. In the long run, if an employee reluctantly stays at the company, it’s not only bad for them, but also for the company.”</p><p>In 2013, Bezos acquired the company from the Graham family for $250 million in cash.<a href=\"https://laohu8.com/S/WPO\">The Washington Post</a>\"(The Washington Post).</p><p><b>2014: When you find a dream business opportunity, act</b></p><p>Bezos believes that a \"dream business product\" has at least four characteristics:</p><p>1. Customers like it.</p><p>2. It can grow to be very powerful.</p><p>3. It has a high rate of return.</p><p>4. It could last for decades.</p><p>In 2014, Amazon launched Fire TV and introduced the first Echo smart speaker for users to choose from.</p><p><b>2015: Big winners pay for numerous experiments</b></p><p>This year, Amazon launched its first and last smartphone, the Fire. The phone proved to be a huge failure, and Bezos talked about the importance of failure.</p><p>“If there’s a 10% chance of getting a 100x return, you should bet every time, which is usually right. But nine times out of ten you’ll still be wrong,” Bezos wrote.</p><p>With entrepreneurial enthusiasm, he added, \"We aspire to become a large company that also invents machines. We hope to combine the exceptional customer service capabilities offered by our scale with the usual...\"<a href=\"https://laohu8.com/S/V03.SI\">Startup company</a>Only then can the speed of action, flexibility, and risk-taking mindset be combined.</p><p>Amazon also acquired Twitch, a video game streaming site, this year. The Echo smart speaker was also rolled out across the board just before the holiday season.</p><p><b>2016: Always the first day</b></p><p>Bezos said, \"The 'second day' company stagnates, immediately becomes irrelevant, followed by a painful recession, and then death.\" How can we avoid entering the second day? Ask yourself these simple questions:</p><p>Will you satisfy your customers?</p><p>Are you a victim of agencies, or are they serving you? Are you the master of the process, or is the process your master?</p><p>Are world trends in your favor?</p><p>Are you only satisfied with the quality of decision-making, or are you also concerned with the speed of decision-making?</p><p>Bezos details how to make high-quality, high-speed decisions:</p><p>1. What if you're wrong? Some decisions are irreversible and must be made slowly and thoughtfully. However, most decisions are reversible and can be easily corrected. It is important to determine which is which, rather than using a \"one-size-fits-all\" approach.</p><p>2. Once you have 70% of the information you want to obtain, you should be able to make most decisions. If you insist on waiting until you have mastered 90%, then you are slow. If you are good at course correction, the cost of making mistakes will be less than slow decision-making.</p><p>3. Dare to offer advice and obey the overall situation. Bezos explained, \"If you're absolutely certain about a particular direction, even if there's no consensus, it's helpful to bring it up: 'I know everyone disagrees with this, but are you willing to make a bet with me? Disagree but obey?' At this point, no one can be sure they know the answer, and you might get everyone's agreement very quickly.\"</p><p>4. “Sometimes teams have different goals and fundamentally different perspectives. They are inconsistent, and no amount of discussion or meeting can resolve this serious misalignment,” Bezos wrote. Therefore, it is best to detect misalignment problems as early as possible and pay attention to them immediately.</p><p><b>2017: Yesterday's \"wow\" quickly turned into today's \"ordinary\"</b></p><p>No matter how much customer demands and expectations continue to rise, Amazon always manages to stay ahead to some extent. And why? According to Bezos, the reason is their high standards.</p><p>Bezos believes that setting high standards is teachable, contagious, and domain-related, meaning you must learn high standards separately in each area of interest. To achieve high standards:</p><p>1. You must know what is good.</p><p>2. Your expectations must be realistic, and you must be aware of the difficulty of achieving the goal, or how much effort it will take.</p><p>According to Bezos, identification and scope are the two most important principles for high-standard delivery.</p><p>Leaders relentlessly set high standards, which many would even consider outrageously high. —Amazon Leadership Principles</p><p>For example, PowerPoint is nothing to Amazon. Instead, their employees had to write a six-page narrative, structured memo and speak it out. According to Bezos,</p><p>Good memos need to be written over and over again.</p><p>Also share with colleagues who are asked to improve their work.</p><p>Give yourself a few days, and then re-edit with a new mindset.</p><p>Bezos said, \"Poorly written memos are often not because writers don't recognize what high standards look like, but because they have wrong expectations of scope: they mistakenly believe that they can write a high-standard six-page memo in a day or two or even a few hours, but it can actually take a week or more! They want to do a perfect handstand in just two weeks, and we haven't taught them well.\"</p><p>He said, \"The key is that simply teaching them the scope can improve the results—letting them know that a good memo can take a week or more.\"</p><p>In 2017, Amazon acquired Whole Foods Market.</p><p><b>2018: The road to success will not be smooth sailing</b></p><p>Sometimes running a business is like this: you know where you're going, and you can get there very efficiently. However, those major \"nonlinear\" discoveries may require you to take detours, relying on intuition or curiosity to guide you. In order to find a way out, it is worthwhile to be a little chaotic and go astray.</p><p>\"Extremely large 'nonlinear' discoveries require taking detours.\"</p><p>In 2013, if you went to a customer and said, \"Would you like to put a black cylinder in the kitchen, about the size of a Pringles, where you can chat with it, ask questions, and turn on the lights and play music for you?\" I guarantee they'd look at you strangely and say, \"No, thank you.\" No customer wants an Echo,\" Bezos explained.</p><p>“This is definitely a detour we took,” he said.</p><p><b>2019: It's still day one</b></p><p>Bezos's letter was written in April 2020, when the world was being hit hard by the pandemic. Bezos explained Amazon's role in fighting the pandemic and meeting growing demand, as consumers now rely more than ever on Amazon's services to deliver goods to their doorsteps.</p><p>Bezos concluded with a quote from Theodor Seuss Geisel: \"When something bad happens, you have three choices: you can let it define you, let it destroy you, or let it make you stronger.\"</p><p>Bezos reiterated, \"Even in this situation, we still need to maintain a Day 1 mindset.\"</p>","source":"36k","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>After reading Bezos's letter to shareholders 23 years ago, I learned these things.</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\">\nAfter reading Bezos's letter to shareholders 23 years ago, I learned these things.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">36氪</strong><span class=\"h-time small\">2021-05-07 21:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Editor's Note: A company's letter to shareholders often reflects the values and philosophies of the company and its leaders. Of all the letters to shareholders, Buffett's letter to shareholders has been the most studied. In addition, as a great internet retail company, Amazon's leader Jeff Bezos's letter to shareholders is also worth studying in depth. This article reviews Bezos's letters to shareholders over the past 23 years, condensing the essence of the letters to share with you. This article was translated from Medium by Sumit Grrg, originally titled \"Read 23 Years Worth of Jeff Bezos' Amazon Shareholder Letters — Here's What I Learned\"， Hopefully, this will inspire you.</p><p><img src=\"https://static.tigerbbs.com/02c1e7f37ab0059568a615de8884c1b1\" tg-width=\"550\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Jeff Bezos speaks after accepting the 2019 International Astronautical Federation Industrial Excellence Award in Washington, D.C., on October 22, 2019. pictures :MANDEL NGAN/AFP/Getty Images</p><p>In the early 1990s, few people had heard of the Internet. Jeff Bezos happens to be one of those who has heard of the concept of the Internet.</p><p>Bezos saw that the internet was growing at a rate of 2,300 percent per year, and he decided to come up with a business idea to ride this wave. He made a list of products to sell online and quickly locked in books.</p><p>Bezos originally named his online bookstore Cadabra. But just three months later, he changed his name to the Amazon, after the largest river on Earth, which is naturally the choice of most people on Earth. Although the company still lives up to its name today, it has come a long way to get to where it is today. In the early days of his startup, Bezos held more than 50 meetings to raise $1 million from investors. The most common question in these meetings was, \"What is the Internet?\"</p><p>Today, Amazon's market capitalization is close to $1.7 trillion. Jeff Bezos, who was recently surpassed by Elon Musk, has topped the list of the world's richest people for the third consecutive year.</p><p>But for Bezos, the title of \"world's richest man\" is not that valuable, because he prefers to be called an inventor or entrepreneur. He's right. The outgoing Amazon CEO is one of the world's finest entrepreneurs. Jeff Bezos forever changed the way we shop, transforming (and disrupting) multiple industries.</p><p>Over the past few years, I have repeatedly read every open letter Bezos has written to Amazon shareholders over the past 23 years. These letters not only provide us with a brief history of Amazon, but also give us a deeper understanding of the masterminds behind this massive internet company.</p><p>The following is a summary of the key points in these letters.</p><p><b>1997: Pursue long-term leadership, not short-term profitability</b></p><p>By selling books online, Amazon discovered a unique opportunity and began offering customers a much wider selection of books than in physical stores, \"and in bookstores that are open 24 hours a day, 365 days a year, presented to customers in a useful, easy-to-search, and easy-to-navigate format.\"</p><p>Amazon went public in 1997, and shortly after that, Bezos wrote his first letter to shareholders, which truly reflected his now famous Day-1 mentality—a principle widely adopted in the entrepreneurial community: to always maintain the same initial enthusiasm and passion for the company as in its early days.</p><p>\"The internet was, and still is, the wait of the whole world.\"</p><p>Bezos has long-term goals, and he makes decisions and weighs trade-offs differently from most other business leaders:</p><p>Continuous focus on customers.</p><p>Prioritize growth (scale), long-term market leadership, and long-term profitability over short-term profitability. Amazon hopes to solidify its market leadership amidst fierce competition from numerous large entrants and companies such as bookselling giant Barnes & Noble.</p><p>Hiring and retaining talent, with a compensation structure that emphasizes stock options rather than cash, and using \"benefits linked to risk sharing\" to make them think and act like masters.</p><p>Like a true dreamer, Bezos was visionary from the start: \"Today, e-commerce saves customers money and time. Tomorrow, through personalization, it will accelerate the entire discovery process.\"</p><p><b>1998: 3 criteria to consider when recruiting</b></p><p>Bezos stated that setting high barriers to entry during hiring is the most important factor in Amazon's success. At the hiring meeting, he suggested that managers consider the following three questions:</p><p>1. Would you admire this person? The person you admire is someone you can learn from.</p><p>2. Will this person improve the team's average efficiency level? The threshold must be increasingly high.</p><p>3. To what extent is this person likely to become a superstar? Most people have unique skills that can enrich the work environment for everyone else.</p><p><b>1999: Today is good enough, but it can get better</b></p><p>“The current online shopping experience is the worst. It’s already attracting 17 million users, but it will only get better.” Bezos, with his sights set on long-term success and business dominance, is determined to build a culture that will never be stable at Amazon.</p><p>After adding discounted music to its online retail offerings in 1998, Amazon took a series of major initiatives in 1999, including the introduction of zShops (now Marketplace), a trading platform that supports third-party sellers, and a \"one-click\" payment solution that revolutionized e-commerce checkout.</p><p><b>2000: A company that wants to be a heavyweight</b></p><p>Bezos's letter this year begins with one word: \"Ouch.\"</p><p>Although Amazon was one of the few internet companies to survive the bursting of the dot-com bubble, its stock price plummeted from $116 at the peak of the dot-com bubble to $6.</p><p>To explain the turmoil caused by the stock market crash, Bezos borrowed the words of investor Benjamin Graham, who once said, \"In the short term, the stock market is a voting machine; in the long term, it is a weighing machine.\"</p><p>Amazon, as Bezos said in his letter to shareholders, is a \"company that wants to be weighed.\"</p><p>In another letter, he added, “We won’t celebrate a 10% increase in stock price the way we celebrate an excellent customer experience. A 10% increase in stock price doesn’t increase our intelligence by 10%, and conversely, we won’t be 10% stupid when stock prices fall. We want to be weighed, and we’ve been working hard to build a heavier company.”</p><p><b>2001: Eliminating errors at their root</b></p><p>Bezos launched features such as \"Look Inside the Book,\" a free program that allows authors and publishers to promote their books. Bezos emphasized Amazon's efforts to always improve the customer experience while encouraging merchants and small businesses to thrive in its ecosystem.</p><p>Bezos added, \"One of the most important things we do to improve customer convenience and experience happens to be a huge driver of variable cost productivity: fundamentally eliminating errors and mistakes.\" Because when you implement an eradication program, you're not just solving a customer's problem, but also solving a problem for every customer. Bezos said, \"Eliminating the root causes of errors can save us money and save our customers time.\"</p><p><b>2002: What's good for customers is good for shareholders</b></p><p>For example, Bezos insists on constantly lowering prices to beat competitors and win customers. In the long run, increased sales will in turn drive profit growth, which is best for shareholders.</p><p><b>2003: Long-term investment, being the real master</b></p><p>“I know a couple who rented out their house, and the family who moved in nailed the Christmas tree to the hardwood floor instead of using a tree stand. I think it was a stopgap measure. Admittedly, these tenants were terrible, but no landlord would be so short-sighted. Landlords and tenants are different.” Long-term thinking is both a necessary condition and a result of true mastery.</p><p>Bezos added, \"Similarly, many investors are actually short-term tenants whose portfolios change very quickly, essentially just renting stocks they hold temporarily.\" Bezos reiterated that his business case is to remain optimistic about the long-term vision.</p><p>In 2003, at an executive retreat held at Bezos's home, the seeds of the cloud computing business Amazon Web Services (AWS) were planted. This business was initially invented to help Amazon solve its own problems, but it quickly became obvious that every company wanted it. Today, AWS has dominated the public cloud market and become the company's largest source of profit. A few years later, when commenting on the success of AWS, Bezos spoke about what he considered a business miracle: \"We didn't encounter a competitor with similar views for seven whole years. As a pioneer, if you're lucky, you can probably get a two-year lead. But no one can get a seven-year lead, which is simply unbelievable.\"</p><p><b>2004: Cash is King</b></p><p>“Cash flow best explains a company’s long-term stock price. Amazon has a cash-generating operating cycle because it turns around quickly and can collect payments from customers before paying suppliers.”</p><p>Free cash flow is the reason Amazon continues to grow despite low profits, year after year. For ease of understanding, here is an excerpt from Vox explaining how \"small profits\" compound over time:</p><p>\"Free cash flow is somewhat similar to profit, except it doesn't assume that Amazon has to pay everything within the same timeframe for selling items. And because of Amazon's payment cycle mechanism, companies often receive payment for items sold long before they have to pay for them. For example,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>It takes an average of three days to receive payment from suppliers, while Amazon pays suppliers an average of 18 days after receiving payment.</p><p><b>2005: Dare to make bold decisions</b></p><p>Bezos identified two types of decisions that companies must frequently face:</p><p>1. Mathematical-based decision-making: Decisions that can be made using data, where \"there is a right answer or a wrong answer, a better answer or a worse answer, and mathematics tells us which is which. These decisions still require us to make some assumptions and judgments, but the heaviest work is done by mathematics.\"</p><p>2. Judgment-based decision-making: \"While data, analysis, and mathematics all play a role, the main factor in these decisions is judgment. In this case, there is almost no historical data to guide us, and prospective experiments are either impossible, impractical, or no different from making decisions.\"</p><p>Bezos believes that \"any organization unwilling to tolerate controversy must limit its decision-making to the first type. But doing so not only limits controversy, but also significantly limits innovation and long-term value creation.\" He advises companies to \"combine their strong quantitative and analytical culture with a willingness to make bold decisions.\"</p><p>It was precisely because of this bold theme that 2005 was also the year Amazon Prime was born. It all started with the idea of a junior software engineer at Amazon to offer customers a \"fast, free delivery buffet\". By 2018, Amazon will become the second largest paid membership program, after Netflix. Moreover, Amazon Prime remains one of Amazon's most valuable and brand-recognized assets.</p><p><b>2006: Sowing seeds for new business</b></p><p>Bezos suggests carefully evaluating this checklist before investing in a new business:</p><p>Whether the new opportunity can generate the expected return on capital.</p><p>How large can it grow to?</p><p>Is the service in this market still inadequate?</p><p>Do you possess the necessary capabilities to introduce strong customer-facing differentiation to the market?</p><p>Bezos used the above factors to explain why Amazon has so far refused to open physical stores.</p><p>He said, \"The potential scale of the physical store network is exciting. However, we don't know how to achieve low capital and high returns. Retail in the physical world is a cautious and ancient industry with very well-developed services, and we don't have any new ideas to build a physical store that would give customers a better sense of differentiation.\"</p><p>He added, \"When you see us entering new business areas, it's because we believe the tests mentioned above have passed.\"</p><p>It wasn't until 2015 that Amazon opened its first physical bookstore. Then it will acquire<a href=\"https://laohu8.com/S/WFM\">Whole Foods Market</a>Whole Foods entered the grocery retail sector and opened an Amazon Go convenience store without cashiers.</p><p><b>2007: \"Missionaries\" can make better products</b></p><p>On November 19, 2007, Amazon introduced the Kindle e-reader to the world, redefining the way we consume books.</p><p>Bezos said, \"We set a long-term vision from the beginning: regardless of the language, as long as a book has been published, users can read it in 60 seconds. We started by setting ourselves an obviously very bold goal to improve the physical book. This goal is not easily chosen. Anything that exists in roughly the same form and resists changing for 500 years cannot be easily improved.\"</p><p>Bezos said that as an inventor, you are either a mercenary or a missionary. The mercenaries were thinking about how to sell their things. Missionaries, however, love their products, their customers, and strive to provide excellent service. He said, but paradoxically, \"it is often the missionaries who make more money.\" Products like the Kindle can only be created with pure passion and true belief.</p><p>\"The Kindle is designed for long periods of reading. We hope that the Kindle and its subsequent products will gradually extend the time we can concentrate on reading over several years, buffering the recent tendency to read fragmented information. I know I sound like a missionary, and I can assure you I mean it from the bottom of my heart.\" This is not just my idea; a large group of people in our company also have this idea. I'm happy about that, because the missionaries' dedication helps us create better products.</p><p>However, Bezos was quick to admit that innovation waits for no one. So, if you don't execute well or fast enough, others will seize the opportunity.</p><p><b>2008: Safeguarding the long-term interests of the company</b></p><p>Bezos wrote, \"Seeking immediate gratification or making unattainable promises, you'll likely find that a group of people are already ahead of you.\" Conversely, long-term thinking:</p><p>Give full play to our existing capabilities.</p><p>It allows us to do new things that we couldn't think of before.</p><p>Support the failures and iterations required for the invention.</p><p>Free us to explore the unknown.</p><p>This year, Amazon acquired Audible, which is now the leader in the audiobook market.</p><p><b>2009: Listen to our customers' voices and innovate for them.</b></p><p>Bezos's definition of Amazon's basic policy is: \"Start with the customer and work backwards. Listen to the customer's opinion, but don't just listen to the customer's opinion; invent for them.\"</p><p>Although he did not mention the now obvious and infamous rebuttal in his letter, \"If you can't beat them, then acquire them.\" Early footwear e-commerce giant Zappos is an example. After finding it difficult to catch up with the former, Amazon acquired it directly.</p><p><b>2010: Invention of new methods</b></p><p>Invention is a fundamental tool for developing and improving all aspects of the customer experience. “While many of our systems are based on the latest findings in computer science research, this is often not enough: our architects and engineers have to pursue further research in areas that have not yet been explored academically, and we face many problems that have not yet been solved in textbooks, so we are happy to invent new approaches,” Bezos wrote.</p><p>Corporate milestone: In July 2010, Amazon announced that in the three years since the Kindle was launched, e-book sales had surpassed physical books.</p><p><b>2011: The most radical inventions are those that \"enable others to pursue their dreams.\"</b></p><p>\"Even well-meaning gatekeepers can hinder innovation,\" Bezos said, emphasizing the self-service nature of various Amazon platforms, including Amazon Web Services, Marketplace, and Kindle Direct Publishing. \"When a platform is self-service, even unlikely ideas will be tried, and many of them are indeed feasible, and society is the beneficiary of this diversity.\"</p><p><b>2012: Prioritize customers over chasing competitors</b></p><p>Bezos believes that one of the advantages of focusing on customer orientation is that \"it helps with a certain type of initiative. When we're at our best, we don't have to wait for external pressure. Before we're forced to do it, we're already being pushed internally to improve our services, add benefits and features. We're already lowering prices and adding value for our customers before we're forced to.\" We invented it before we had to.”</p><p>He added, “These investments are motivated by a customer-centric approach rather than a reaction to competition. We believe this approach has earned more customer trust and driven rapid improvements in customer experience—importantly—even in areas where we have already become leaders.”</p><p><b>2013: Severance pay</b></p><p>Amazon pays employees severance pay once a year. Although, the title of this offer is \"Please do not accept this invitation\". “Our goal is to encourage people to take some time to think about what they really want. In the long run, if an employee reluctantly stays at the company, it’s not only bad for them, but also for the company.”</p><p>In 2013, Bezos acquired the company from the Graham family for $250 million in cash.<a href=\"https://laohu8.com/S/WPO\">The Washington Post</a>\"(The Washington Post).</p><p><b>2014: When you find a dream business opportunity, act</b></p><p>Bezos believes that a \"dream business product\" has at least four characteristics:</p><p>1. Customers like it.</p><p>2. It can grow to be very powerful.</p><p>3. It has a high rate of return.</p><p>4. It could last for decades.</p><p>In 2014, Amazon launched Fire TV and introduced the first Echo smart speaker for users to choose from.</p><p><b>2015: Big winners pay for numerous experiments</b></p><p>This year, Amazon launched its first and last smartphone, the Fire. The phone proved to be a huge failure, and Bezos talked about the importance of failure.</p><p>“If there’s a 10% chance of getting a 100x return, you should bet every time, which is usually right. But nine times out of ten you’ll still be wrong,” Bezos wrote.</p><p>With entrepreneurial enthusiasm, he added, \"We aspire to become a large company that also invents machines. We hope to combine the exceptional customer service capabilities offered by our scale with the usual...\"<a href=\"https://laohu8.com/S/V03.SI\">Startup company</a>Only then can the speed of action, flexibility, and risk-taking mindset be combined.</p><p>Amazon also acquired Twitch, a video game streaming site, this year. The Echo smart speaker was also rolled out across the board just before the holiday season.</p><p><b>2016: Always the first day</b></p><p>Bezos said, \"The 'second day' company stagnates, immediately becomes irrelevant, followed by a painful recession, and then death.\" How can we avoid entering the second day? Ask yourself these simple questions:</p><p>Will you satisfy your customers?</p><p>Are you a victim of agencies, or are they serving you? Are you the master of the process, or is the process your master?</p><p>Are world trends in your favor?</p><p>Are you only satisfied with the quality of decision-making, or are you also concerned with the speed of decision-making?</p><p>Bezos details how to make high-quality, high-speed decisions:</p><p>1. What if you're wrong? Some decisions are irreversible and must be made slowly and thoughtfully. However, most decisions are reversible and can be easily corrected. It is important to determine which is which, rather than using a \"one-size-fits-all\" approach.</p><p>2. Once you have 70% of the information you want to obtain, you should be able to make most decisions. If you insist on waiting until you have mastered 90%, then you are slow. If you are good at course correction, the cost of making mistakes will be less than slow decision-making.</p><p>3. Dare to offer advice and obey the overall situation. Bezos explained, \"If you're absolutely certain about a particular direction, even if there's no consensus, it's helpful to bring it up: 'I know everyone disagrees with this, but are you willing to make a bet with me? Disagree but obey?' At this point, no one can be sure they know the answer, and you might get everyone's agreement very quickly.\"</p><p>4. “Sometimes teams have different goals and fundamentally different perspectives. They are inconsistent, and no amount of discussion or meeting can resolve this serious misalignment,” Bezos wrote. Therefore, it is best to detect misalignment problems as early as possible and pay attention to them immediately.</p><p><b>2017: Yesterday's \"wow\" quickly turned into today's \"ordinary\"</b></p><p>No matter how much customer demands and expectations continue to rise, Amazon always manages to stay ahead to some extent. And why? According to Bezos, the reason is their high standards.</p><p>Bezos believes that setting high standards is teachable, contagious, and domain-related, meaning you must learn high standards separately in each area of interest. To achieve high standards:</p><p>1. You must know what is good.</p><p>2. Your expectations must be realistic, and you must be aware of the difficulty of achieving the goal, or how much effort it will take.</p><p>According to Bezos, identification and scope are the two most important principles for high-standard delivery.</p><p>Leaders relentlessly set high standards, which many would even consider outrageously high. —Amazon Leadership Principles</p><p>For example, PowerPoint is nothing to Amazon. Instead, their employees had to write a six-page narrative, structured memo and speak it out. According to Bezos,</p><p>Good memos need to be written over and over again.</p><p>Also share with colleagues who are asked to improve their work.</p><p>Give yourself a few days, and then re-edit with a new mindset.</p><p>Bezos said, \"Poorly written memos are often not because writers don't recognize what high standards look like, but because they have wrong expectations of scope: they mistakenly believe that they can write a high-standard six-page memo in a day or two or even a few hours, but it can actually take a week or more! They want to do a perfect handstand in just two weeks, and we haven't taught them well.\"</p><p>He said, \"The key is that simply teaching them the scope can improve the results—letting them know that a good memo can take a week or more.\"</p><p>In 2017, Amazon acquired Whole Foods Market.</p><p><b>2018: The road to success will not be smooth sailing</b></p><p>Sometimes running a business is like this: you know where you're going, and you can get there very efficiently. However, those major \"nonlinear\" discoveries may require you to take detours, relying on intuition or curiosity to guide you. In order to find a way out, it is worthwhile to be a little chaotic and go astray.</p><p>\"Extremely large 'nonlinear' discoveries require taking detours.\"</p><p>In 2013, if you went to a customer and said, \"Would you like to put a black cylinder in the kitchen, about the size of a Pringles, where you can chat with it, ask questions, and turn on the lights and play music for you?\" I guarantee they'd look at you strangely and say, \"No, thank you.\" No customer wants an Echo,\" Bezos explained.</p><p>“This is definitely a detour we took,” he said.</p><p><b>2019: It's still day one</b></p><p>Bezos's letter was written in April 2020, when the world was being hit hard by the pandemic. Bezos explained Amazon's role in fighting the pandemic and meeting growing demand, as consumers now rely more than ever on Amazon's services to deliver goods to their doorsteps.</p><p>Bezos concluded with a quote from Theodor Seuss Geisel: \"When something bad happens, you have three choices: you can let it define you, let it destroy you, or let it make you stronger.\"</p><p>Bezos reiterated, \"Even in this situation, we still need to maintain a Day 1 mindset.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://tech.sina.cn/i/gj/2021-05-07/detail-ikmyaawc3966834.d.html?vt=4\">36氪</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9666a5b83e36990bd4e534d3ea5b2003","relate_stocks":{"AMZN":"亚马逊","QNETCN":"纳斯达克中美互联网老虎指数"},"source_url":"https://tech.sina.cn/i/gj/2021-05-07/detail-ikmyaawc3966834.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133050027","content_text":"编者按：一家企业的致股东的信往往能反映这个企业及领导者的价值观和理念。在所有致股东的信中，研究最多的是巴菲特致股东的信。除此之外，亚马逊作为一个伟大的互联网零售企业，其领导者贝索斯致股东的信也值得深入研究。本文回顾了23年来贝索斯致股东的信，浓缩了信中的精华部分，与君分享。本文译自Medium，作者Sumit Grrg，原标题为\" Read 23 Years Worth of Jeff Bezos’ Amazon Shareholder Letters — Here’s What I Learned\"，希望对您有所启发。\n2019年10月22日，杰夫·贝索斯在华盛顿特区接受2019年国际宇航联合会卓越工业奖后发表讲话。图片:MANDEL NGAN/AFP/Getty Images\n在90年代初期，很少有人听说过互联网。杰夫·贝索斯(Jeff Bezos)恰好是听过互联网概念的人之一。\n贝索斯看到，互联网以每年2300%的速度增长，他决定要想出一个商业创意来驾驭这股浪潮。他列了一个网上销售产品的清单，很快就锁定了书籍。\n贝索斯最初将他的网上书店命名为Cadabra。但仅仅过了三个月，他就把名字改成了亚马逊（Amazon），以地球上最大的河流命名，自然也是地球上最多人的选择。虽然这家公司到今天也算名副其实，但它走了很长一段路才走到今天。在创业初期，贝索斯开了50多次会才从投资者那里筹集到100万美元，在这些会议中，最常见的问题是，“什么是互联网？”\n如今，亚马逊的市值接近1.7万亿美元。最近刚刚被埃隆·马斯克(Elon Musk)超越的杰夫·贝索斯，连续三年蝉联全球富豪榜榜首。\n但对于贝索斯来说，“世界首富”的头衔并没有那么有价值，因为他更喜欢被称为发明家或企业家。他是对的。这位即将卸任的亚马逊首席执行官是世界上最优秀的企业家之一。杰夫·贝索斯永远地改变了我们的购物方式，改变(并颠覆)了多个行业。\n在过去的几年里，我反复阅读了这23年来贝索斯的每一封致亚马逊股东公开信。这些信件除了为我们提供了亚马逊的简史之外，还让我们深入了解了这家庞大互联网企业背后的幕后操盘者。\n以下是这些信件中的关键要点总结。\n1997年：追求长期的领导力，而不是短期的获利能力\n通过在网上卖书，亚马逊发现了一个独特的机会，并开始为顾客提供比实体店多得多的图书选择，“而且是在一年365天一天24小时不打烊的书店里面，用一种有用的，易于搜索且易于浏览的格式呈现给顾客。”\n亚马逊于1997年上市，不久之后贝索斯就写了他的第一封致股东信，这封信真实地反映了他现在著名的第一天心态(Day-1心态)——这是一个被创业界广泛采用的原则，即要像一开始的日子那样，始终对企业保持最初的狂热和激情。\n“网络曾经是，现在仍然是，全世界的等待。”\n贝索斯的目标是长远，他在做决定和权衡取舍时的方式与其他大多数商业领袖不同：\n对客户的持续关注。\n优先考虑增长(规模)、长期市场领导地位和长期盈利能力，而不是短期盈利能力。亚马逊希望在众多大型进入者以及来自图书销售巨头Barnes & Noble等公司的激烈竞争中巩固其市场领导地位。\n雇佣并留住人才，薪酬结构偏重股票期权而不是现金，用“利益绑定风险共担”来让他们就必须像主人翁一样去思考与行动。\n就像一个真正的梦想家，贝索斯从一开始就有先见之明：“今天，电子商务为顾客节省了金钱和时间。明天，通过个性化，它将加速发现的整个过程。”\n1998：招聘时要考虑的3条标准\n贝索斯表示，在招聘时设置高门槛是亚马逊成功的最重要因素。在招聘会议上，他建议经理们考虑以下三个问题:\n1.  你会欣赏这个人吗？你敬佩的人是你可以向他学习的人。\n2.  这个人会提高团队的平均效率水平吗？门槛必须越来越高。\n3.  这个人在多大程度上有可能成为超级明星？大多数人都具备可以为其他所有人充实工作环境的独特的技能。\n1999年：今天已经足够好了，但它还可以变得更好\n“目前的网上购物体验是最糟糕的。现在它已经足够吸引1700万用户了，但它还会变得更好。”贝索斯着眼于长期的成功和商业统治地位，他决心在亚马逊建立一种永不安定的文化。\n在1998年将打折音乐加入其在线零售产品之后，亚马逊在1999年采取了一系列重大举措，其中包括引入支持第三方卖家的交易平台zShops（也就是现在的Marketplace），以及彻底改变了电子商务结帐方式的“一键式”付款解决方案。\n2000年：一家想要作为重量级的公司\n贝索斯今年的信以一个词开头：“哎呦。”\n尽管亚马逊是在互联网泡沫破灭后幸存下来的少数几家互联网公司之一，但其股价却从互联网泡沫顶峰时的116美元暴跌至6美元。\n为了解释股市崩盘带来的动荡，贝索斯借用了投资者本杰明·格雷厄姆(Benjamin Graham)的话，格雷厄姆曾说：“短期内，股市是一台投票机，从长远来看，它是一台称量机。”\n而亚马逊，正如贝索斯在给股东的信中所说，是一家“希望被称重的公司”。\n在另一封信中，他补充道：“我们不会像庆祝卓越的客户体验那样庆祝股价上涨10%。股价上涨10%不能让我们的智慧提高10％，反之，当股价下跌时，我们也不会愚蠢10%。我们想要被称重，我们一直在努力打造一个更重的公司。”\n2001年：从根源上消除错误\n贝索斯推出了“看书”(Look Inside the Book)等功能，这是一个免费程序，允许作者和出版商推广他们的书籍。贝索斯强调了亚马逊的努力，即永远改善客户体验，同时鼓励商家和小企业在其生态系统中蓬勃发展。\n贝索斯补充说：“我们为提高顾客的便利性和体验所做的最重要的事情之一，恰好也是可变成本生产率的巨大驱动力：从根本上消除错误和失误。”因为当你实施根除计划时，你解决的不只是一个客户的问题，而且也在为每一位客户解决问题。贝索斯说：“消除错误的根源可为我们节省金钱，并为客户节省客户时间。”\n2002年：对客户有利的，就是对股东有利的\n例如贝索斯坚持不断降低价格，以击败竞争对手，赢得顾客。从长远来看，销售额的增加反过来又会推动利润的增长，这对股东来说是最好的。\n2003年：长期投资，做真正的主人\n“我认识一对夫妇，他们把房子租了出去，搬进来的那一家人把圣诞树钉在了硬木地板上，而不是用树架。我想这是权宜之计，诚然，这些房客非常糟糕，但没有哪个业主会如此目光短浅。业主和租户是不同的。而长期思维既是真正主人的必要条件，也是其结果。\n贝索斯补充道：“同样，许多投资者实际上都是短期租户，他们的投资组合转换得非常之快，实际上只是租用他们暂时持有的股票。”贝索斯再次指出，他的商业理由是保持对长期愿景的乐观。\n2003年，在贝索斯家里举行的一次高管务虚会上，云计算业务Amazon Web Services（AWS）的种子开始种下。这项业务一开始是为了帮助亚马逊解决自己的问题而发明的，但情况很快变得很明显，每一家公司都想要它。现如今，AWS已经统治了公有云市场，成为该公司最大的利润来源。几年后，在点评AWS的成功时，贝索斯谈到了这个自己心目当中的商业奇迹：“整整七年我们都没有遇到有相似看法的竞争对手。作为先驱，如果幸运的话，你大概能获得两年的领先优势。但没有人能够获得长达7年的领先优势，这简直令人难以置信。”\n2004年：现金为王\n“现金流最能解释一家公司的长期股价。亚马逊有一个现金产生的运营周期，因为它周转迅速，在付款给供应商之前就能从客户那里收取款项。”\n自由现金流是亚马逊在低利润的情况下不断壮大的原因，年复一年。为了便于理解，以下是Vox的一段摘录，解释了“微利”是如何随着时间的推移而产生复利效应的：\n“自由现金流跟利润有点像，只是它不假定亚马逊必须在卖东西的同一时间范围内支付一切费用。而且由于亚马逊的付款周期的机制，公司往往在必须支付卖出的东西的费用之前很久就能收到卖出东西的钱。比方说，沃尔玛在向供应商付款后平均要用三天时间才能收到货款，而亚马逊在收到货款平均18天后才向供应商付款。”\n2005年：敢于做出大胆决定\n贝索斯提出了两种企业必须经常面对的决策：\n1.  基于数学的决策：可以用数据做出的决策，其中“有一个正确答案或错误答案，一个更好的答案或一个更坏的答案，数学会告诉我们哪个是哪个。这些决定仍然需要我们做出一些假设和判断，但最繁重的工作是由数学完成的。”\n2.  基于判断的决策：“虽然数据、分析和数学都起着作用，但这些决定的主要因素是判断。这种情况下几乎没有历史数据可以指导我们，而前瞻性的试验要么不可能，要么不切实际或者跟要做决定无异。”\n贝索斯认为，“任何不愿忍受争议的机构都必须把自己的决策限制在第一种类型。但这样做不仅会限制争议，还会显著限制创新和长期价值创造。”他建议企业“将其强大的量化和分析文化与大胆决策的意愿结合起来。”\n正是因为秉承了大胆这个主题，2005年也是Amazon Prime诞生之年。这一切都始于亚马逊的一名初级软件工程师提出的想法，为客户提供“快速、免费送货的自助餐”。到2018年时，亚马逊将成为第二大的付费会员计划，仅次于Netflix。而且Amazon Prime仍然是亚马逊目前最有价值，品牌知名度最高的资产之一。\n2006年：为新业务播下种子\n贝索斯建议，在对新业务进行投资之前，请先仔细评估一下这份检查清单：\n新的机会是否可以产生预期的资本回报。\n它可以发展到多大的规模。\n这个市场现在是不是服务还不到位。\n你是不是具备必要的能力把强大的面向客户的差异化引入到市场。\n贝索斯利用上述因素解释了为什么亚马逊到目前为止拒绝开设实体店。\n他说：“实体店网络的潜在规模令人兴奋。然而，我们不知道如何做到低资本和高回报。实体世界的零售是一个谨慎而古老的行业，服务已经非常完善，我们没有任何新想法来建立一个实体的商店，让客户感受到更好的差异化。”\n他补充道：“当你看到我们进入新的业务领域时，那是因为我们相信上述测试已经通过了。”\n直到2015年，亚马逊才开设自己的第一家实体书店。然后它将收购全食超市（Whole Foods），进军食品杂货零售领域，并开设没有收银员的Amazon Go便利店。\n2007年：“传教士”能制造出更好的产品\n2007年11月19日，亚马逊向世界推出了Kindle电子阅读器，重新定义了我们消费书籍的方式。\n贝索斯说：“我们从一开始就设定了长期愿景：无论哪种语言，只要是出版过的书，用户都能在60秒中读到。我们从给自己设定显然十分大胆的目标开始，去改进实体书。这个目标不是轻易选择出来的。任何以大致相同的形式存在，并且抵触改变已经有500年时间的事物，都不可能轻易就得到改善的。”\n贝索斯说，作为一个发明家，你要么是一个雇佣军，要么是一个传教士。雇佣军就想着怎么把东西卖掉。传教士却热爱自己的产品，自己的客户，并设法做出优质的服务。他说，但自相矛盾的是，“赚更多钱的往往是传教士。” 类似Kindle这样的产品唯有凭借着一股纯粹热情，自己真正相信，才能打造得出。\n“Kindle是专为长时间阅读而设计的。我们希望Kindle和其之后的产品能用几年的时间，逐渐地延长我们能专心阅读的时间，对最近盛行的阅读零碎信息的倾向有所缓冲。我知道我的语气像个传教士，我可以向您保证我是发自内心的。这并不是我一个人的想法，我们公司有一大帮人也有这想法。对此我很高兴，因为传教士的那种执着精神能帮助我们打造出更好的产品”\n不过贝索斯也很快承认，创新不会等待任何人。所以，如果你执行得不够好不够快的话，别人就会抓住机会。\n2008年：维护公司的长远利益\n贝索斯写道：“寻求即时的满足，或做出遥不可及的承诺，很可能你会发现已经有一帮人在前面了。”反过来，长期思维则：\n发挥我们现有的能力。\n允许我们做一些之前无法思考的新事情。\n支持发明所需的失败和迭代。\n解放我们去探索未知的空间。\n今年，亚马逊收购了Audible，后者现在是有声读物市场的领导者。\n2009年：倾听客户的心声，同时替他们去创新\n贝索斯对亚马逊的基本方针的定义是：“从客户开始，向后退。倾听顾客的意见，但不要只听顾客的意见，还要替他们去发明。”\n尽管他在信中并没有提到那句现在已显而易见，而且臭名昭著的反驳，“如果你没法打败它们，那就收购对方。”早期鞋类电商巨头Zappos就是例子。发现自己很难赶上前者之后，亚马逊直接就把它给收购了。\n2010年：发明新方法\n发明是发展和改善客户体验各个方面的基本工具。“虽然我们的许多系统都是基于计算机科学研究的最新成果，但这往往还不够：我们的构架师和工程师不得不在学术上还没探讨的方向进行进一步研究，我们面对很多问题在教科书上还没有给出解决方案，所以我们很高兴去发明新办法，”贝索斯写道。\n企业里程碑：2010年7月，亚马逊宣布，Kindle推出三年来，电子书的销量已经超过了实体书。\n2011年：最激进的发明是那些“能让别人追求自己梦想”的发明\n贝索斯说道：“就算是善意的看门人也会阻碍创新。”他强调了包括Amazon Web Services，Marketplace以及Kindle Direct Publishing在内的各种Amazon平台的自服务性。“当平台是自服务时，哪怕是不大可能的想法也会有人尝试，而且其中的很多想法确实是行得通的，而社会就是这种多样性的受益者。\n2012年：优先考虑客户，而不是追赶竞争对手\n贝索斯认为，聚焦于客户导向的优势之一是“这有助于某种类型的主动性。当我们处在最佳状态时，我们就不必等待外部施加压力。在我们被迫去做之前，内部就已经推动我们要改善服务，增加好处和功能了。我们在被迫之前就已经替客户降低价格和增加价值了。在不得不这样做之前我们就先发明了。”\n他补充道：“激励这些投资的是以顾客为导向而不是对竞争的反应。我们认为，这种做法赢得了客户更多的信任，并推动了客户体验的快速改善——重要的是——甚至在那些我们已经成为领导者的领域也是如此。”\n2013年：离职金\n亚马逊每年向员工支付一次离职费用。尽管，这个offer的标题是“请不要接受这个邀请”。“我们的目标是鼓励人们花点时间想想自己真正想要的是什么。从长期来看，如果员工勉强留在公司，不仅对他自己不好，对公司同样不利。”\n2013年，贝索斯以2.5亿美元现金从格雷厄姆家族手中收购了《华盛顿邮报》(The Washington Post)。\n2014年：当你找到一个梦幻的商机时，行动起来\n贝索斯认为，“梦幻般的商业产品”至少有四个特点：\n1.  客户喜欢它。\n2.  它可以发展到非常强大。\n3.  它的回报率很高。\n4.  有可能持续几十年。\n2014年，亚马逊推出了Fire TV，并推出了首款Echo智能音箱供用户选择。\n2015年：大赢家为众多实验买单\n今年，亚马逊推出了第一款也是最后一款智能手机Fire。这款手机被证明是一个巨大的失败，贝索斯谈到了失败的重要性。\n“如果有10%的机会获得100倍的回报，你应该每次都下注，这通常是对的。但十有八九你还是会错。”贝索斯写道。\n带着企业家的热情，他补充道：“我们希望成为一家同时也是发明机器的大公司。我们希望将规模所赋予的非凡客户服务能力，与通常创业公司才有的行动速度、灵活性和风险接受心态结合起来。”\n亚马逊今年还收购了视频游戏流媒体网站Twitch。而Echo智能音箱也正好赶在假日季之前全线铺开。\n2016：永远是第一天\n贝索斯说:“‘第二天’的公司是停滞的，会紧接着变得无关紧要，随后是痛苦的衰退，然后就是死亡。”怎么才能避免步入第二天？可以自问一下这几个简单的问题：\n你会让顾客满意吗？\n你是代理的牺牲品，还是它们为你服务？你是流程的主人，还是流程是你的主人？\n世界潮流对你有利吗？\n你只满足于决策的质量，还是也关注决策的速度？\n贝索斯详述了如何做出高质量、高速度的决策：\n1.如果你错了怎么办？有些决定是不可逆的，得慢慢地，深思熟虑地做决定。但是大多数的决策都是可逆的，是很容易做路线修正的。重要的是要确定哪个是哪个，而不要用“一刀切”的方法。\n2.在掌握了你希望获得的信息的70%之后，应该就可以做出大多数的决定了。如果你非要等到掌握了90％，那你就慢了。如果你擅长路线修正，那犯错的代价会比决策慢要小。\n3.敢于谏言，服从大局。贝索斯解释说：“如果你对特定方向十分确信，就算没有共识，你提出来也是有帮助的：“我知道大家都不同意这一点，但你们愿意跟我打赌吗？不同意但是服从？” 到了这个时候，没人敢肯定自己知道答案，这时候你可能很快就能得到大家的同意。”\n4.  “有时候团队有不同的目标和根本不同的观点。他们不一致，再多的讨论、再多的会议也无法解决这种严重的错位。,”贝索斯写道。因此，最好及早发现错位问题，并立即重视起来。\n2017：昨天的“哇”很快变成了今天的“平凡”\n不管客户要求和期望再怎么的不断提高，亚马逊总能多多少少赶在前头。为什么呢？按照贝索斯的说法，原因在于他们的高标准。\n贝索斯认为，设定高标准是可传授的，会感染的，而且是领域相关的，这意味着你必须在每个感兴趣的领域分别去学习高标准。要想达到高标准：\n1.  你必须知道什么是好的。\n2.  你的期望必须具有现实性，对实现目标的难度，或者需要付出多少努力要心中有数。\n根据贝索斯的说法，识别和范围是高标准交付的两个最重要的原则。\n领导者不懈制定高标准，甚至很多人会认为这些标准高得离谱。——亚马逊领导力原则\n比方说，PPT在亚马逊这里根本就不算什么。相反，他们这里的员工得写6页纸叙述性结构化的备忘录，还得讲出来。根据贝索斯的说法，\n好的备忘录要一遍又一遍地写。\n还要与被要求改进工作的同事分享。\n留出几天时间，然后以新的思路重新编辑。\n贝索斯说：“备忘录写得不好往往不是作者认识不到高标准是什么样的，而是对范围有着错误的期望：他们错误地认为一两天甚至几个小时就能写出高标准的六页纸备忘录，但其实这可能要花费一周或更长时间！他们想在短短两周内就做出完美倒立，而我们没有教好他们。”\n他说：“关键是，只需要把范围教给他们就可以改善结果了——让他们知道，一份好的备忘录可能需要一周或更长时间。”\n2017年，亚马逊收购了全食超市。\n2018年：通往成功的道路绝不是一帆风顺\n做企业有时候是这样的，你知道要去哪里，而且也可以很高效地去到那里。但是，那些特大的“非线性”的发现，却可能需要你走走弯路，要靠直觉或好奇心的引导，为了找到出路，有点乱有点跑偏也是值得的。\n“特大的‘非线性’发现需要走走弯路。”\n2013年，如果你去找一位顾客，对他说：“你想不想在厨房里放一个黑色圆筒，大小和品客薯片(Pringles)差不多，你可以一边跟它聊天，一边问问题，同时还能帮你打开灯，播放音乐？”我保证他们会奇怪地看着你然后说，“不，谢谢。”没有顾客想要Echo，”贝索斯解释说。\n“这绝对是我们走的弯路，”他说。\n2019年：现在仍是第一天\n贝索斯的这封信写于2020年4月，当时全球正遭受疫情的严重打击。贝索斯解释了亚马逊在抗击疫情以及满足日益增长的需求方面的作用，因为现在消费者比以往任何时候都更依赖亚马逊的服务，将商品送货上门。\n贝索斯以西奥多·苏斯·盖泽尔(Theodor Seuss Geisel)的一句话作为结尾，他说：“当不好的事情发生时，你有三种选择：你可以让它定义你，让它摧毁你，或者让它使你变得更强。”\n贝索斯重申，“即使在这种情况下，仍然要保持第一天心态。”","news_type":1,"symbols_score_info":{"QNETCN":0.9,"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":6066,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108065967,"gmtCreate":1619963009459,"gmtModify":1704336812873,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ? ? ?&nbsp;","listText":"? ? ? ? ? ?&nbsp;","text":"? ? ? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/108065967","repostId":"1117138743","repostType":4,"repost":{"id":"1117138743","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":1619953637,"share":"https://ttm.financial/m/news/1117138743?lang=en_US&edition=fundamental","pubTime":"2021-05-02 19:07","market":"hk","language":"zh","title":"JD Logistics has submitted a post-hearing information set to the Hong Kong Stock Exchange regarding the proposed spin-off.","url":"https://stock-news.laohu8.com/highlight/detail?id=1117138743","media":"老虎资讯综合","summary":"京东集团在港交所公告称，董事会欣然宣布，其接获京东物流通知，京东物流已就拟议分拆向香港联交所递交聆讯后资料集。","content":"<p><a href=\"https://laohu8.com/S/JD\">JD.com</a>The Group announced on the Hong Kong Stock Exchange that its board of directors is pleased to announce that it has received notification from JD Logistics that JD Logistics has submitted a post-hearing information set to the Hong Kong Stock Exchange regarding the proposed spin-off.</p><p><img src=\"https://static.tigerbbs.com/74128ba8dc013999c7633603bacff800\" tg-width=\"1080\" tg-height=\"1920\"></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>JD Logistics has submitted a post-hearing information set to the Hong Kong Stock Exchange regarding the proposed spin-off.</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\">\nJD Logistics has submitted a post-hearing information set to the Hong Kong Stock Exchange regarding the proposed spin-off.\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\">2021-05-02 19:07</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/JD\">JD.com</a>The Group announced on the Hong Kong Stock Exchange that its board of directors is pleased to announce that it has received notification from JD Logistics that JD Logistics has submitted a post-hearing information set to the Hong Kong Stock Exchange regarding the proposed spin-off.</p><p><img src=\"https://static.tigerbbs.com/74128ba8dc013999c7633603bacff800\" tg-width=\"1080\" tg-height=\"1920\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/25e108e80ab0d5329f36d3b166f67111","relate_stocks":{"JD":"京东","09618":"京东集团-SW","QNETCN":"纳斯达克中美互联网老虎指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117138743","content_text":"京东集团在港交所公告称，董事会欣然宣布，其接获京东物流通知，京东物流已就拟议分拆向香港联交所递交聆讯后资料集。","news_type":1,"symbols_score_info":{"QNETCN":0.9,"09618":0.9,"JD":0.9}},"isVote":1,"tweetType":1,"viewCount":5754,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374231092,"gmtCreate":1619447562416,"gmtModify":1704724076507,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ?&nbsp;","listText":"? ? ? ?&nbsp;","text":"? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/374231092","repostId":"1112124246","repostType":4,"repost":{"id":"1112124246","kind":"news","pubTimestamp":1619446921,"share":"https://ttm.financial/m/news/1112124246?lang=en_US&edition=fundamental","pubTime":"2021-04-26 22:22","market":"us","language":"zh","title":"Copper prices soared to the highest level in a decade and the non-ferrous metals sector rose","url":"https://stock-news.laohu8.com/highlight/detail?id=1112124246","media":"智通财经","summary":"高盛将未来12个月铜目标价提高到1.1万美元/吨。","content":"<p>On Monday, April 26, the non-ferrous metals sector rose during trading. As of press time,<a href=\"https://laohu8.com/S/FCX\">McMoran Copper Gold</a>It rose more than 6%.<a href=\"https://laohu8.com/S/AA\">Alcoa</a>It rose more than 5%.<a href=\"https://laohu8.com/S/TRQ\">Turquoise Hill Resources</a>It rose more than 4%, and Albert & Paykel Inc. rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/4747a8a90284928bc8ab8f9768b760f4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Previously, global copper prices soared to their highest level in a decade, with LME copper rising to $9,700 per ton at one point. Including<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Other institutions believe that, given the important role of copper in the green energy transition, the climate goals of various countries will make this round of copper price rebound the beginning of a longer-term rise in copper prices.</p><p>Goldman Sachs has raised its 12-month copper price target to $11,000 per ton, up $500 from its reiterated 12-month copper price target two weeks ago, an increase of nearly 4.8%.</p>","source":"highlight_zhitongcaijin","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>Copper prices soared to the highest level in a decade and the non-ferrous metals sector rose</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\">\nCopper prices soared to the highest level in a decade and the non-ferrous metals sector rose\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\">2021-04-26 22:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On Monday, April 26, the non-ferrous metals sector rose during trading. As of press time,<a href=\"https://laohu8.com/S/FCX\">McMoran Copper Gold</a>It rose more than 6%.<a href=\"https://laohu8.com/S/AA\">Alcoa</a>It rose more than 5%.<a href=\"https://laohu8.com/S/TRQ\">Turquoise Hill Resources</a>It rose more than 4%, and Albert & Paykel Inc. rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/4747a8a90284928bc8ab8f9768b760f4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Previously, global copper prices soared to their highest level in a decade, with LME copper rising to $9,700 per ton at one point. Including<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Other institutions believe that, given the important role of copper in the green energy transition, the climate goals of various countries will make this round of copper price rebound the beginning of a longer-term rise in copper prices.</p><p>Goldman Sachs has raised its 12-month copper price target to $11,000 per ton, up $500 from its reiterated 12-month copper price target two weeks ago, an increase of nearly 4.8%.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/458639.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/eeb9a4d452d8568bcc6a2558535ad160","relate_stocks":{"FCX":"麦克莫兰铜金","AA":"美国铝业"},"source_url":"https://www.zhitongcaijing.com/content/detail/458639.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1112124246","content_text":"4月26日(周一)，有色金属板块盘中走高，截至发稿，麦克莫兰铜金涨超6%，美国铝业涨超5%，Turquoise Hill Resources涨超4%，美国雅宝公司涨超3%。此前全球铜价飙升至十年来的最高水平，伦铜一度升至9700美元/吨。包括高盛等机构认为，考虑到铜在绿色能源转型中的重要作用，各国的气候目标将使本轮铜价反弹成为更长维度铜价上涨的开始。高盛将未来12个月铜目标价提高到1.1万美元/吨，较两周前其重申的12个月铜目标价上调500美元，升幅将近4.8%。","news_type":1,"symbols_score_info":{"FCX":0.9,"TRQ":0.9,"AA":0.9}},"isVote":1,"tweetType":1,"viewCount":2465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372856465,"gmtCreate":1619193208057,"gmtModify":1704721142874,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ? ? ?&nbsp;","listText":"? ? ? ? ? ?&nbsp;","text":"? ? ? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/372856465","repostId":"2129035903","repostType":4,"repost":{"id":"2129035903","kind":"news","weMediaInfo":{"introduction":"全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。","home_visible":1,"media_name":"英为财情Investing","id":"92","head_image":"https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313"},"pubTimestamp":1619191931,"share":"https://ttm.financial/m/news/2129035903?lang=en_US&edition=fundamental","pubTime":"2021-04-23 23:32","market":"us","language":"zh","title":"Two K-12 giants have released their financial reports one after another. Which one has \"TAL Education Group\"?","url":"https://stock-news.laohu8.com/highlight/detail?id=2129035903","media":"英为财情Investing","summary":"中国两大教育巨头近日前后脚公布了最新的财报数据，在经历了股价波动性较高的一季度以后，这两家公司的财报受到了投资者的密切关注。\n根据行情数据显示，和在美股上市的股票价格今年以来已经双双累计跌逾12%，这","content":"<p>China's two major education giants recently released their latest financial reports one after the other. After a highly volatile first quarter, the financial reports of these two companies have attracted close attention from investors.</p><p>According to market data, the prices of stocks listed on the US stock market have both fallen by more than 12% this year. This is not only significantly weaker than the performance of the US stock market, but also does not conform to the trend of vigorous economic recovery in the \"post-pandemic\" era.</p><p>The weakness of Chinese concept education stocks can be traced back to January of this year, when the website of the Central Commission for Discipline Inspection and the National Supervisory Commission published an article directly pointing out the various problems existing in online education. There are also media reports that after-school tutoring institutions have been subject to surprise inspections by relevant regulatory authorities. At that time<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>They remained noncommittal about this news.</p><p>In the following months, online education was frequently named by relevant departments and state media, and the question of how to regulate the education and training industry also sparked heated discussions in society. Education Minister Chen Baosheng recently stated that a major effort will be made to regulate and rectify after-school training institutions this year. On March 31, Lu Yugang, Director of the Department of Basic Education of the Ministry of Education, said at a press conference held by the State Council Information Office that the Ministry of Education has included the governance of training institutions in its key tasks this year and will further strengthen the governance of after-school training institutions. With the successive introduction of regulatory policies, 2021 is also regarded as a transformative year for the education and training industry.</p><p>Under strict regulations, Wall Street has also shifted its focus.<a href=\"https://laohu8.com/S/C\">Citi</a>Analysts will<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>The target price was lowered by $20; And<a href=\"https://laohu8.com/S/JEF\">Jeffrey</a>Analysts believe that regulation will not have a significant impact on leading companies. However, the investment bank also stated that, given the current abundance of news, investors have chosen to \"vote with their feet\" and sell their stocks first, which is a common way for Wall Street investors to handle negative news about international stocks.</p><p><b>1、</b>TAL Education Group</p><p>According to the latest data released by TAL Education Group, the company's revenue in the fourth quarter of fiscal year 2021 was US$1.36 billion, a year-on-year increase of 59%, exceeding the guidance forecast of US$1.175 billion to US$1.2 billion announced in Q3. The company achieved revenue of approximately US$4.5 billion for the whole year, a year-on-year increase of 37.3%. However, its losses also widened, with a net loss of $169 million in the fourth quarter, an 87.56% increase from a net loss of $90 million in the same period last year, and a net loss of $116 million for the whole year.</p><p>It should be noted that TAL Education Group's increased losses are mainly due to the significant increase in marketing expenses brought about by the online education war. Recently, competition among leading online education institutions has intensified, leading to a further surge in the company's advertising investment and a significant increase in overall marketing expenses. Specifically, the company's sales expenses reached $660 million in Q4, a significant increase of 172% year-on-year; Sales expenses for the year reached 1.68 billion yuan, a significant increase of 37.4% year-on-year.</p><p>Despite being backed by a strict regulatory environment and the issue of excessive advertising before the winter break, which has attracted the attention of regulatory authorities, the company's online course revenue in Q4 was approximately $440 million, a year-on-year increase of 115%, accounting for a significant increase from 24% in the same period last year to 32%. The number of participants in long-term full-price courses increased by 71% year-on-year to 3.5 million, and the full-price course ASP increased by 9% year-on-year.</p><p>According to market data from Investing.com, when TAL Education Group first released its financial report, the market gave the stock a relatively positive reaction (up about 6% in pre-market trading), but the stock price subsequently fell and ultimately closed down 2.16%.</p><p>Market analysts believe that despite the severe pressure of college entrance examinations in China, the company still has huge opportunities in the after-school tutoring market. Although the competition is fierce, the competition will become calmer under the background of stricter regulations, and its management of marketing expenses is also expected to improve. The company will be more rational in its online expansion in the future. Moreover, its cash flow is still as high as $5.938 billion.</p><p>TAL Education Group expects its revenue to increase by 43%-45% year-on-year in Q1 of fiscal year 2022 (the three months ended May 31, 2021), to be between US$1,302.2 billion and US$1,320.5 billion.</p><p><b>2、</b>New Oriental</p><p>Earlier this week, TAL Education Group's number one competitor, New Oriental, also released its financial report. Data shows that in the third quarter of fiscal year 2021, New Oriental's net revenue exceeded US$1.19 billion, a year-on-year increase of 29%, and in addition, Q3 revenue was US$3.151 billion, a year-on-year increase of 9.9%. Earnings per ADS were $0.09, unchanged from $0.09 in the same period last year, compared to market expectations of $0.06.</p><p>Like TAL Education Group, facing a fiercely competitive environment, the company's business expansion has also led to increased costs. Data shows that in Q3 of fiscal year 2021, New Oriental continued to expand the coverage of its OMO system, investing US$59 million to pilot OMO online courses in existing cities and 25 new satellite cities in the surrounding area. (The OMO strategy refers to the Online-Merge-Offline model, which aims to deeply integrate Online and Offline channels. It is considered the business model with the greatest improvement in market efficiency after O2O.)</p><p>In the third quarter of fiscal year 2021, New Oriental's operating costs and expenses were US$1.089 billion, an increase of 35.1% year-over-year; Cost of revenue was $529.5 million, a year-over-year increase of 35.3%; Selling and marketing expenses were US$156.1 million, representing a year-on-year increase of 32.0%; General and administrative expenses amounted to US$393.4 million, representing a year-on-year increase of 36.1%. However, rising costs have also suppressed the company's profit margins.</p><p>However, New Oriental remained profitable, which made Wall Street investors more \"tolerant\" of it. On the day the earnings report was released, the company's stock price closed up more than 6.4%.</p><p>Analysts believe that with China effectively controlling the pandemic, offline education has also rebounded, and the two educational methods can complement each other, helping established educational institutions like New Oriental seize more market share and resources. However, it is undeniable that in the fiercely competitive environment, the erosion of the stock's market share by other industry players cannot be ignored.</p><p>New Oriental forecasts that its revenue will increase by 38%-43% year-over-year in Q4 of fiscal year 2021 (the three months ended May 31, 2021), to between US$1,101.9 billion and US$1,141.8 billion.</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>Two K-12 giants have released their financial reports one after another. Which one has \"TAL Education Group\"?</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\">\nTwo K-12 giants have released their financial reports one after another. Which one has \"TAL Education Group\"?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/92\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">英为财情Investing </p>\n<p class=\"h-time smaller\">2021-04-23 23:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>China's two major education giants recently released their latest financial reports one after the other. After a highly volatile first quarter, the financial reports of these two companies have attracted close attention from investors.</p><p>According to market data, the prices of stocks listed on the US stock market have both fallen by more than 12% this year. This is not only significantly weaker than the performance of the US stock market, but also does not conform to the trend of vigorous economic recovery in the \"post-pandemic\" era.</p><p>The weakness of Chinese concept education stocks can be traced back to January of this year, when the website of the Central Commission for Discipline Inspection and the National Supervisory Commission published an article directly pointing out the various problems existing in online education. There are also media reports that after-school tutoring institutions have been subject to surprise inspections by relevant regulatory authorities. At that time<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>They remained noncommittal about this news.</p><p>In the following months, online education was frequently named by relevant departments and state media, and the question of how to regulate the education and training industry also sparked heated discussions in society. Education Minister Chen Baosheng recently stated that a major effort will be made to regulate and rectify after-school training institutions this year. On March 31, Lu Yugang, Director of the Department of Basic Education of the Ministry of Education, said at a press conference held by the State Council Information Office that the Ministry of Education has included the governance of training institutions in its key tasks this year and will further strengthen the governance of after-school training institutions. With the successive introduction of regulatory policies, 2021 is also regarded as a transformative year for the education and training industry.</p><p>Under strict regulations, Wall Street has also shifted its focus.<a href=\"https://laohu8.com/S/C\">Citi</a>Analysts will<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>The target price was lowered by $20; And<a href=\"https://laohu8.com/S/JEF\">Jeffrey</a>Analysts believe that regulation will not have a significant impact on leading companies. However, the investment bank also stated that, given the current abundance of news, investors have chosen to \"vote with their feet\" and sell their stocks first, which is a common way for Wall Street investors to handle negative news about international stocks.</p><p><b>1、</b>TAL Education Group</p><p>According to the latest data released by TAL Education Group, the company's revenue in the fourth quarter of fiscal year 2021 was US$1.36 billion, a year-on-year increase of 59%, exceeding the guidance forecast of US$1.175 billion to US$1.2 billion announced in Q3. The company achieved revenue of approximately US$4.5 billion for the whole year, a year-on-year increase of 37.3%. However, its losses also widened, with a net loss of $169 million in the fourth quarter, an 87.56% increase from a net loss of $90 million in the same period last year, and a net loss of $116 million for the whole year.</p><p>It should be noted that TAL Education Group's increased losses are mainly due to the significant increase in marketing expenses brought about by the online education war. Recently, competition among leading online education institutions has intensified, leading to a further surge in the company's advertising investment and a significant increase in overall marketing expenses. Specifically, the company's sales expenses reached $660 million in Q4, a significant increase of 172% year-on-year; Sales expenses for the year reached 1.68 billion yuan, a significant increase of 37.4% year-on-year.</p><p>Despite being backed by a strict regulatory environment and the issue of excessive advertising before the winter break, which has attracted the attention of regulatory authorities, the company's online course revenue in Q4 was approximately $440 million, a year-on-year increase of 115%, accounting for a significant increase from 24% in the same period last year to 32%. The number of participants in long-term full-price courses increased by 71% year-on-year to 3.5 million, and the full-price course ASP increased by 9% year-on-year.</p><p>According to market data from Investing.com, when TAL Education Group first released its financial report, the market gave the stock a relatively positive reaction (up about 6% in pre-market trading), but the stock price subsequently fell and ultimately closed down 2.16%.</p><p>Market analysts believe that despite the severe pressure of college entrance examinations in China, the company still has huge opportunities in the after-school tutoring market. Although the competition is fierce, the competition will become calmer under the background of stricter regulations, and its management of marketing expenses is also expected to improve. The company will be more rational in its online expansion in the future. Moreover, its cash flow is still as high as $5.938 billion.</p><p>TAL Education Group expects its revenue to increase by 43%-45% year-on-year in Q1 of fiscal year 2022 (the three months ended May 31, 2021), to be between US$1,302.2 billion and US$1,320.5 billion.</p><p><b>2、</b>New Oriental</p><p>Earlier this week, TAL Education Group's number one competitor, New Oriental, also released its financial report. Data shows that in the third quarter of fiscal year 2021, New Oriental's net revenue exceeded US$1.19 billion, a year-on-year increase of 29%, and in addition, Q3 revenue was US$3.151 billion, a year-on-year increase of 9.9%. Earnings per ADS were $0.09, unchanged from $0.09 in the same period last year, compared to market expectations of $0.06.</p><p>Like TAL Education Group, facing a fiercely competitive environment, the company's business expansion has also led to increased costs. Data shows that in Q3 of fiscal year 2021, New Oriental continued to expand the coverage of its OMO system, investing US$59 million to pilot OMO online courses in existing cities and 25 new satellite cities in the surrounding area. (The OMO strategy refers to the Online-Merge-Offline model, which aims to deeply integrate Online and Offline channels. It is considered the business model with the greatest improvement in market efficiency after O2O.)</p><p>In the third quarter of fiscal year 2021, New Oriental's operating costs and expenses were US$1.089 billion, an increase of 35.1% year-over-year; Cost of revenue was $529.5 million, a year-over-year increase of 35.3%; Selling and marketing expenses were US$156.1 million, representing a year-on-year increase of 32.0%; General and administrative expenses amounted to US$393.4 million, representing a year-on-year increase of 36.1%. However, rising costs have also suppressed the company's profit margins.</p><p>However, New Oriental remained profitable, which made Wall Street investors more \"tolerant\" of it. On the day the earnings report was released, the company's stock price closed up more than 6.4%.</p><p>Analysts believe that with China effectively controlling the pandemic, offline education has also rebounded, and the two educational methods can complement each other, helping established educational institutions like New Oriental seize more market share and resources. However, it is undeniable that in the fiercely competitive environment, the erosion of the stock's market share by other industry players cannot be ignored.</p><p>New Oriental forecasts that its revenue will increase by 38%-43% year-over-year in Q4 of fiscal year 2021 (the three months ended May 31, 2021), to between US$1,101.9 billion and US$1,141.8 billion.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/95a52bac654e212de5e6a737e01fc5ff","relate_stocks":{"09901":"新东方-S","EDU":"新东方","TAL":"好未来"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129035903","content_text":"中国两大教育巨头近日前后脚公布了最新的财报数据，在经历了股价波动性较高的一季度以后，这两家公司的财报受到了投资者的密切关注。\n根据行情数据显示，和在美股上市的股票价格今年以来已经双双累计跌逾12%，这不仅大幅弱于美股大盘的走势，也并不符合“后疫情”时代经济蓬勃复苏的趋势。\n中概教育股的弱势，可以追溯到今年1月，彼时，中央纪委国家监委网站发文直指在线教育存在的种种问题。还有媒体消息称，课后辅导机构受到了相关监管部门的突击检查。而当时新东方对这一消息不置可否。\n接下来的几个月里，在线教育频频被有关部门和官媒点名，关于如何规范教培行业的问题也引发了社会热议。教育部部长陈宝生近期表示，今年要大力度治理整顿校外培训机构。3月31日，教育部基础教育司司长吕玉刚在国新办发布会上表示，今年教育部把培训机构治理工作列入重点工作任务，进一步加大校外培训机构治理力度。随着监管政策的陆续出台，2021年也被视作教培行业变革性的一年。\n严监管环境下，华尔街也纷纷转向，花旗的分析师将好未来的目标价下调了20美元；而杰富瑞的分析师则认为，监管对于龙头企业的影响不会太大。但是该投行也表示，在当前消息较多的情况下，投资者选择了“用脚投票”，先抛售股票，这是华尔街投资者对国际股票负面消息常见的处理方式。\n1、好未来\n好未来最新公布的数据显示，公司2021财年Q4季度营收为13.6亿美元，同比增长59%，优于公司Q3时公布的指引预期11.75-12亿美元之间，全年公司实现收入约45亿美元，同比增长37.3%。但是，其亏损也放大，第四季净亏损为1.69亿美元，较上年同期的净亏损0.90亿美元扩大87.56%，全年净亏损为1.160亿美元。\n需要注意的是，好未来的亏损加大，主要是因为线上教育大战所带来的营销费用大幅增长。近期，各大头部在线教育机构之间的竞争越发激烈，公司的广告投入也进一步激增，整体营销费用大幅飙升。具体而言，公司Q4销售费用达到6.6亿美元，同比大增172%；全年销售费用16.8亿元，同比大增37.4%。\n虽然背靠严监管环境，而且寒假前的广告大量投放问题，被监管部门关注，但是Q4公司在线课程实现收入约4.4亿美元，同比增长115%，占比从去年同期的24%大幅增至32%，长期正价课程的参培人数同比增长71%达到350万人，正价课程ASP同比增长9%。\n根据英为财情Investing.com的行情数据显示，在好未来公布财报之初，市场给予该股较为正面的反应(盘前涨约6%)，但是随后股价回落，最终收跌2.16%。\n市场分析师认为，在中国严峻的升学压力之下，公司在课外辅导市场仍然具备巨大机会，虽然竞争激烈，但是在监管趋严的背景下，竞争会更加趋于冷静，其在营销费用的管理方面也有望提升。公司后市在线上扩张方面更理性。而且其现金流仍然高达59.38亿美元。\n好未来预计，2022财年Q1(截至2021年5月31日止三个月)，其营收同比增长43%-45%，至13.022亿美元-13.205亿美元之间。\n2、新东方\n本周稍早前，好未来的头号竞争对手新东方也发布了财报。数据显示，2021财年第三季度，新东方净收入超11.9亿美元，同比增长29%，此外，Q31.51亿美元，同比增长9.9%。每ADS盈利0.09美元，和去年同期的0.09美元持平，市场预期0.06美元。\n和好未来一样，面对激烈的竞争环境，公司业务扩张也导致了成本的增加，数据显示，2021财年Q3，新东方继续扩大OMO系统的覆盖范围，投入5900万美元，在现有城市和周围的25个新的卫星城市中试用OMO在线课程。(OMO战略是指Online-Merge-Offline模式，旨在深度融合线上和线下渠道，被认为是继O2O之后市场效率更大提升的商业模式。)\n在2021财年第三季度，新东方运营成本和开支为10.890亿美元，同比增长35.1%；营收成本为5.295亿美元，同比增长35.3%；销售及营销开支为1.561亿美元，同比增长32.0%；总务及行政开支为3.934亿美元，同比增长36.1%。不过成本的增长也导致了公司的利润空间受到压制。\n不过，新东方仍然盈利，这也让华尔街的投资者对其更为“宽容”，在财报发布当日，公司股价收盘涨超6.4%。\n分析师认为，在中国较好地控制疫情的情况下，线下教育也已经回暖，两种教育方式就能得到相互补充，可以帮助新东方这样的老牌教育机构抢占更多市场和资源。但是不可否认的是，激烈的竞争环境中，其他行业参与者对该股市场份额的侵蚀也不容忽视。\n新东方预测，2021财年Q4(截至2021年5月31日止三个月)，其营收同比增长38%-43%，至11.019亿美元-11.418亿美元之间。","news_type":1,"symbols_score_info":{"09901":0.9,"EDU":0.9,"TAL":0.9}},"isVote":1,"tweetType":1,"viewCount":2465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347621340,"gmtCreate":1618494064980,"gmtModify":1704711702347,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ? ? ? ?&nbsp;","listText":"? ? ? ? ? ? ?&nbsp;","text":"? ? ? ? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347621340","repostId":"1128234792","repostType":4,"repost":{"id":"1128234792","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":1618492988,"share":"https://ttm.financial/m/news/1128234792?lang=en_US&edition=fundamental","pubTime":"2021-04-15 21:23","market":"us","language":"zh","title":"Delta Air Lines reported first-quarter revenue of $4.15 billion and expects to return to profitability in the third quarter.","url":"https://stock-news.laohu8.com/highlight/detail?id=1128234792","media":"老虎资讯综合","summary":"达美航空：2021年一季度营收41.5亿美元，市场预期39.83亿美元，去年同期85.92亿美元。一季度净亏损11.77亿美元。一季度调整后每股亏损3.55美元，市场预期每股亏损3.17美元。达美航空","content":"<p><a href=\"https://laohu8.com/S/DAL\">Delta Airlines</a>Revenue for the first quarter of 2021 was $4.15 billion, compared to market expectations of $3.983 billion and $8.592 billion in the same period last year.</p><p>The company reported a net loss of $1.177 billion in the first quarter.</p><p>The company reported an adjusted loss of $3.55 per share for the first quarter, compared to market expectations of a loss of $3.17 per share.</p><p>Delta Air Lines stated that it achieved positive daily cash flow in March. It is expected to return to profitability in the third quarter.</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>Delta Air Lines reported first-quarter revenue of $4.15 billion and expects to return to profitability in the third quarter.</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\">\nDelta Air Lines reported first-quarter revenue of $4.15 billion and expects to return to profitability in the third quarter.\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\">2021-04-15 21:23</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/DAL\">Delta Airlines</a>Revenue for the first quarter of 2021 was $4.15 billion, compared to market expectations of $3.983 billion and $8.592 billion in the same period last year.</p><p>The company reported a net loss of $1.177 billion in the first quarter.</p><p>The company reported an adjusted loss of $3.55 per share for the first quarter, compared to market expectations of a loss of $3.17 per share.</p><p>Delta Air Lines stated that it achieved positive daily cash flow in March. It is expected to return to profitability in the third quarter.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c98071a5fdaaf26b5df14c74e53fa1e9","relate_stocks":{"DAL":"达美航空"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128234792","content_text":"达美航空：2021年一季度营收41.5亿美元，市场预期39.83亿美元，去年同期85.92亿美元。一季度净亏损11.77亿美元。一季度调整后每股亏损3.55美元，市场预期每股亏损3.17美元。达美航空表示：3月实现每日现金流量为正数。预计将在第三季度恢复盈利。","news_type":1,"symbols_score_info":{"DAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1582,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347623563,"gmtCreate":1618494051552,"gmtModify":1704711701700,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ? ? ?&nbsp;","listText":"? ? ? ? ? ?&nbsp;","text":"? ? ? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/347623563","repostId":"1121288783","repostType":4,"repost":{"id":"1121288783","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":1618493281,"share":"https://ttm.financial/m/news/1121288783?lang=en_US&edition=fundamental","pubTime":"2021-04-15 21:28","market":"us","language":"zh","title":"Opening: The Dow Jones Industrial Average rose over 160 points, with blockchain and star technology stocks generally gaining.","url":"https://stock-news.laohu8.com/highlight/detail?id=1121288783","media":"老虎资讯综合","summary":"4月15日（周四），道指开涨超160点，纳指快速涨超1%。区块链、明星科技股普涨。中概股淘屏开盘涨超19%，公司与比特大陆签署了购买ANTMINER S19J PRO比特币挖矿机的协议。开心汽车涨超8","content":"<p>On Thursday, April 15, the Dow Jones Industrial Average rose more than 160 points, and the Nasdaq Composite quickly gained more than 1%. Blockchain and star technology stocks generally rose.</p><p><img src=\"https://static.tigerbbs.com/698daa35c595b0f35adcefa5ac770d81\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Chinese concept stocks<a href=\"https://laohu8.com/S/TAOP\">Screen scanning</a>The stock opened up more than 19%, and the company...<a href=\"https://laohu8.com/S/90027\">BitContinent</a>An agreement was signed to purchase the ANTMINER S19J PRO Bitcoin mining machine.</p><p><a href=\"https://laohu8.com/S/KXIN\">Happy Auto</a>The stock rose more than 8% after the company announced that it had received Nasdaq approval to acquire Haitao Car.</p><p><a href=\"https://laohu8.com/S/COIN\">Coinbase</a>It opened more than 4% higher and closed up more than 31% on its first day of trading yesterday, with its market capitalization once exceeding $100 billion during intraday trading. The company reportedly received nearly 750,000 shares purchased by three ETFs under ARK, worth approximately $250 million at the closing price.</p><p>Star tech stocks generally rose.<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>It rose 4.6%, while Paypal rose 2.7%.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Up 1.8%,<a href=\"https://laohu8.com/S/MA\">Mastercard</a>It rose 1.6%.</p><p><a href=\"https://laohu8.com/S/GSK\">GlaxoSmithKline</a>It rose more than 4% after reports that well-known US hedge fund Elliott had increased its holdings by billions of pounds.<a href=\"https://laohu8.com/S/GSK.UK\">GlaxoSmithKline</a>The shares.</p><p><a href=\"https://laohu8.com/S/DELL\">Dell</a>Dell shares rose nearly 6% as it plans to divest.<a href=\"https://laohu8.com/S/VMW\">Wei Rui</a>81% of the shares will be acquired to form two independent listed companies.</p><p>Most new energy vehicle sectors declined.<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It fell more than 3%.<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>It fell nearly 3%.<a href=\"https://laohu8.com/S/NIO\">Nio</a>It fell more than 2%.<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>It fell 0.6%.</p><p><a href=\"https://laohu8.com/S/QS\">quantum scape</a>It fell nearly 10% after being previously bearish on SCORPION CAPITAL.</p><p><a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>Virgin Group Chairman Richard Branson sold more than $150 million worth of shares after the stock fell more than 7%.</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>Opening: The Dow Jones Industrial Average rose over 160 points, with blockchain and star technology stocks generally gaining.</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\">\nOpening: The Dow Jones Industrial Average rose over 160 points, with blockchain and star technology stocks generally gaining.\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\">2021-04-15 21:28</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Thursday, April 15, the Dow Jones Industrial Average rose more than 160 points, and the Nasdaq Composite quickly gained more than 1%. Blockchain and star technology stocks generally rose.</p><p><img src=\"https://static.tigerbbs.com/698daa35c595b0f35adcefa5ac770d81\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Chinese concept stocks<a href=\"https://laohu8.com/S/TAOP\">Screen scanning</a>The stock opened up more than 19%, and the company...<a href=\"https://laohu8.com/S/90027\">BitContinent</a>An agreement was signed to purchase the ANTMINER S19J PRO Bitcoin mining machine.</p><p><a href=\"https://laohu8.com/S/KXIN\">Happy Auto</a>The stock rose more than 8% after the company announced that it had received Nasdaq approval to acquire Haitao Car.</p><p><a href=\"https://laohu8.com/S/COIN\">Coinbase</a>It opened more than 4% higher and closed up more than 31% on its first day of trading yesterday, with its market capitalization once exceeding $100 billion during intraday trading. The company reportedly received nearly 750,000 shares purchased by three ETFs under ARK, worth approximately $250 million at the closing price.</p><p>Star tech stocks generally rose.<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>It rose 4.6%, while Paypal rose 2.7%.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Up 1.8%,<a href=\"https://laohu8.com/S/MA\">Mastercard</a>It rose 1.6%.</p><p><a href=\"https://laohu8.com/S/GSK\">GlaxoSmithKline</a>It rose more than 4% after reports that well-known US hedge fund Elliott had increased its holdings by billions of pounds.<a href=\"https://laohu8.com/S/GSK.UK\">GlaxoSmithKline</a>The shares.</p><p><a href=\"https://laohu8.com/S/DELL\">Dell</a>Dell shares rose nearly 6% as it plans to divest.<a href=\"https://laohu8.com/S/VMW\">Wei Rui</a>81% of the shares will be acquired to form two independent listed companies.</p><p>Most new energy vehicle sectors declined.<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It fell more than 3%.<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>It fell nearly 3%.<a href=\"https://laohu8.com/S/NIO\">Nio</a>It fell more than 2%.<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>It fell 0.6%.</p><p><a href=\"https://laohu8.com/S/QS\">quantum scape</a>It fell nearly 10% after being previously bearish on SCORPION CAPITAL.</p><p><a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>Virgin Group Chairman Richard Branson sold more than $150 million worth of shares after the stock fell more than 7%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121288783","content_text":"4月15日（周四），道指开涨超160点，纳指快速涨超1%。区块链、明星科技股普涨。中概股淘屏开盘涨超19%，公司与比特大陆签署了购买ANTMINER S19J PRO比特币挖矿机的协议。开心汽车涨超8%，公司宣布获得纳斯达克批准收购海淘车。Coinbase开盘涨超4%，昨日上市首日收涨超31%，盘中交易时市值一度突破1000亿美元；公司据称获ARK旗下三支ETF买入近75万股，以收盘价计算规模约2.5亿美元。明星科技股普涨，英伟达涨4.6%，Paypal涨2.7%，苹果、亚马逊涨1.8%，万事达涨1.6%。葛兰素史克涨超4%，此前有消息称美知名对沖基金Elliott增持数十亿英镑葛兰素史克的股份。戴尔涨近6%，戴尔将剥离威睿81%的股权，组建两家独立的上市公司。新能源车板块多数下挫，理想汽车跌超3%，小鹏汽车跌近3%，蔚来跌超2%，百度跌0.6%。Quantumscape跌近10%，此前遭SCORPION CAPITAL看空。维珍银河跌超7%，维珍集团董事长理查德·布兰森出售了价值超过1.5亿美元的股份。","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1915,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345523535,"gmtCreate":1618324644327,"gmtModify":1704709216462,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ? ?&nbsp;","listText":"? ? ? ? ?&nbsp;","text":"? ? ? ? ?","images":[{"img":"https://static.tigerbbs.com/1829d46177eca3c2a30fea2ffb2841f4","width":"1080","height":"3093"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/345523535","isVote":1,"tweetType":1,"viewCount":1973,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":341873027,"gmtCreate":1617805316469,"gmtModify":1704703397497,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ? ?&nbsp;","listText":"? ? ? ? ?&nbsp;","text":"? ? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/341873027","repostId":"1158255207","repostType":4,"repost":{"id":"1158255207","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":1617804748,"share":"https://ttm.financial/m/news/1158255207?lang=en_US&edition=fundamental","pubTime":"2021-04-07 22:12","market":"us","language":"zh","title":"The decline in Chinese concept stocks in the new energy vehicle sector widened, with Li Auto falling by more than 9%.","url":"https://stock-news.laohu8.com/highlight/detail?id=1158255207","media":"老虎资讯综合","summary":"4月7日，中概新能源车板块跌幅扩大，理想汽车跌超9%，小鹏汽车跌5%，小牛电动跌超3%，蔚来汽车跌2.6%。","content":"<p>On April 7, the decline in the Chinese concept stock new energy vehicle sector widened.<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It fell more than 9%.<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>Down 5%,<a href=\"https://laohu8.com/S/NIU\">Niu Electric</a>It fell more than 3%, with Nio Motor Company down 2.6%.</p><p><img src=\"https://static.tigerbbs.com/1a95c11088139142a4be33ee2dca2ed1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>The decline in Chinese concept stocks in the new energy vehicle sector widened, with Li Auto falling by more than 9%.</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\">\nThe decline in Chinese concept stocks in the new energy vehicle sector widened, with Li Auto falling by more than 9%.\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\">2021-04-07 22:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On April 7, the decline in the Chinese concept stock new energy vehicle sector widened.<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It fell more than 9%.<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>Down 5%,<a href=\"https://laohu8.com/S/NIU\">Niu Electric</a>It fell more than 3%, with Nio Motor Company down 2.6%.</p><p><img src=\"https://static.tigerbbs.com/1a95c11088139142a4be33ee2dca2ed1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/edb5904d62b10798f760277be625646d","relate_stocks":{"NIO":"蔚来","LI":"理想汽车","XPEV":"小鹏集团","02015":"理想汽车-W"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158255207","content_text":"4月7日，中概新能源车板块跌幅扩大，理想汽车跌超9%，小鹏汽车跌5%，小牛电动跌超3%，蔚来汽车跌2.6%。","news_type":1,"symbols_score_info":{"XPEV":0.9,"NIO":0.9,"LI":0.9,"02015":0.9}},"isVote":1,"tweetType":1,"viewCount":1891,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357492611,"gmtCreate":1617288267833,"gmtModify":1704698415061,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ? ? ? ? ?","listText":"? ? ? ? ? ? ? ?","text":"? ? ? ? ? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/357492611","repostId":"1123979727","repostType":4,"repost":{"id":"1123979727","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":1617287972,"share":"https://ttm.financial/m/news/1123979727?lang=en_US&edition=fundamental","pubTime":"2021-04-01 22:39","market":"us","language":"zh","title":"Uxin's stock price surged over 40% after the company signed investment letters of intent with two well-known funds.","url":"https://stock-news.laohu8.com/highlight/detail?id=1123979727","media":"老虎资讯综合","summary":"4月1日，优信二手车盘中暴涨超40%，公司与两家知名的亚洲基金签订投资意向书。优信二手车宣布，公司已于4月1日与两家亚洲投资基金签订具约束力的投资意向书。据此，潜在投资者已同意与公司就认购高级可转换优","content":"<p>April 1st,<a href=\"https://laohu8.com/S/UXIN\">Uxin</a>The used car market surged more than 40% intraday after the company signed investment letters of intent with two well-known Asian funds.</p><p><img src=\"https://static.tigerbbs.com/2167fabccf148c1d56d49b6c72965108\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/UXIN\">Uxin</a>The used car company announced that it signed binding letters of intent for investment with two Asian investment funds on April 1. Accordingly, potential investors have agreed to negotiate with the company regarding the subscription of senior convertible preferred shares and may sign a final agreement. The total investment for the potential transaction may reach up to US$300 million.</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>Uxin's stock price surged over 40% after the company signed investment letters of intent with two well-known funds.</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\">\nUxin's stock price surged over 40% after the company signed investment letters of intent with two well-known funds.\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\">2021-04-01 22:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>April 1st,<a href=\"https://laohu8.com/S/UXIN\">Uxin</a>The used car market surged more than 40% intraday after the company signed investment letters of intent with two well-known Asian funds.</p><p><img src=\"https://static.tigerbbs.com/2167fabccf148c1d56d49b6c72965108\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/UXIN\">Uxin</a>The used car company announced that it signed binding letters of intent for investment with two Asian investment funds on April 1. Accordingly, potential investors have agreed to negotiate with the company regarding the subscription of senior convertible preferred shares and may sign a final agreement. The total investment for the potential transaction may reach up to US$300 million.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7ade1733a461c9483048e104ccc2d044","relate_stocks":{"UXIN":"优信"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123979727","content_text":"4月1日，优信二手车盘中暴涨超40%，公司与两家知名的亚洲基金签订投资意向书。优信二手车宣布，公司已于4月1日与两家亚洲投资基金签订具约束力的投资意向书。据此，潜在投资者已同意与公司就认购高级可转换优先股进行磋商并可能签订最终协议，潜在交易的总投资额最高或将达3亿美元。","news_type":1,"symbols_score_info":{"UXIN":0.9}},"isVote":1,"tweetType":1,"viewCount":2404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354919209,"gmtCreate":1617117649501,"gmtModify":1704696140596,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"Omg.....&nbsp;","listText":"Omg.....&nbsp;","text":"Omg.....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/354919209","repostId":"2123421823","repostType":4,"isVote":1,"tweetType":1,"viewCount":2073,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351273901,"gmtCreate":1616600125003,"gmtModify":1704796319561,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"Wow......&nbsp;","listText":"Wow......&nbsp;","text":"Wow......","images":[{"img":"https://static.tigerbbs.com/bb94ae31c5eb1ac9a58f84a545143b72","width":"1080","height":"2157"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/351273901","isVote":1,"tweetType":1,"viewCount":2411,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":350546432,"gmtCreate":1616239783126,"gmtModify":1704792413134,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/SKLZ\">$Skillz Inc(SKLZ)$</a>&nbsp;help help","listText":"<a href=\"https://laohu8.com/S/SKLZ\">$Skillz Inc(SKLZ)$</a>&nbsp;help help","text":"$Skillz Inc(SKLZ)$ help help","images":[{"img":"https://static.tigerbbs.com/8c0864351e18058c78df31acfe041674","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/350546432","isVote":1,"tweetType":1,"viewCount":1937,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":170529561,"gmtCreate":1626443248853,"gmtModify":1703760276719,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/170529561","repostId":"1169255658","repostType":4,"repost":{"id":"1169255658","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":1626443031,"share":"https://ttm.financial/m/news/1169255658?lang=en_US&edition=fundamental","pubTime":"2021-07-16 21:43","market":"us","language":"zh","title":"Microsoft shares rose over 1%, hitting a new all-time high.","url":"https://stock-news.laohu8.com/highlight/detail?id=1169255658","media":"老虎资讯综合","summary":"周五盘初，微软涨超1%，高见284.1美元，续刷历史新高。瑞穗上调微软目标价至310美元，维持“买入”评级。\n\n瑞穗分析师Gregg Moskowitz发布研报，将微软目标价从285美元上调至310美","content":"<p>In early trading on Friday,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>It rose more than 1%, reaching a high of $284.10, setting a new all-time high. Mizuho raised its target price for Microsoft to $310 and maintained its \"buy\" rating.</p><p><img src=\"https://static.tigerbbs.com/79aaa3b02481436918ab8585b35435c1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Mizuho analyst Gregg Moskowitz released a research report raising his target price for Microsoft from $285 to $310 and maintaining his \"buy\" rating. Moskowitz stated that the economic recovery continues to solidify, and recent software channel inspections are \"generally very healthy.\" The analyst stated that companies that have achieved digitalization are still in the lead, but he noted that many traditional and on-premise technologies \"continue to normalize.\" In addition, the survey shows that the cybersecurity industry \"was particularly strong this quarter\".</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>Microsoft shares rose over 1%, hitting a new all-time high.</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\">\nMicrosoft shares rose over 1%, hitting a new all-time high.\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\">2021-07-16 21:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>In early trading on Friday,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>It rose more than 1%, reaching a high of $284.10, setting a new all-time high. Mizuho raised its target price for Microsoft to $310 and maintained its \"buy\" rating.</p><p><img src=\"https://static.tigerbbs.com/79aaa3b02481436918ab8585b35435c1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Mizuho analyst Gregg Moskowitz released a research report raising his target price for Microsoft from $285 to $310 and maintaining his \"buy\" rating. Moskowitz stated that the economic recovery continues to solidify, and recent software channel inspections are \"generally very healthy.\" The analyst stated that companies that have achieved digitalization are still in the lead, but he noted that many traditional and on-premise technologies \"continue to normalize.\" In addition, the survey shows that the cybersecurity industry \"was particularly strong this quarter\".</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/783e4a9d3f00e88db6623c5917a7c472","relate_stocks":{"MSFT":"微软"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169255658","content_text":"周五盘初，微软涨超1%，高见284.1美元，续刷历史新高。瑞穗上调微软目标价至310美元，维持“买入”评级。\n\n瑞穗分析师Gregg Moskowitz发布研报，将微软目标价从285美元上调至310美元，并维持“买入”评级。Moskowitz表示，经济复苏继续巩固，最近的软件渠道检查“总体上非常健康”。这位分析师表示，实现数字化的公司仍处于领先地位，但他指出，许多传统技术和本地部署(on-premise)技术“继续正常化”。此外，调查显示，网络安全行业“本季度特别强劲”。","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":6483,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176889236,"gmtCreate":1626876092725,"gmtModify":1703479756905,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ?&nbsp;","listText":"? ? ?&nbsp;","text":"? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/176889236","repostId":"1139863092","repostType":4,"isVote":1,"tweetType":1,"viewCount":6212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141343215,"gmtCreate":1625840168237,"gmtModify":1703749648260,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"Just&nbsp;","listText":"Just&nbsp;","text":"Just","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/141343215","repostId":"2150372686","repostType":4,"repost":{"id":"2150372686","kind":"news","pubTimestamp":1625835004,"share":"https://ttm.financial/m/news/2150372686?lang=en_US&edition=fundamental","pubTime":"2021-07-09 20:50","market":"hk","language":"zh","title":"Rumors circulated that regulators had met with Xu Jiayin, but an Evergrande staff member stated that it was inconvenient to respond.","url":"https://stock-news.laohu8.com/highlight/detail?id=2150372686","media":"银柿财经","summary":"7月9日，有媒体报道《监管当局约见许家印，要求恒大尽快化解债务问题》。","content":"<p>On July 9, media reported that \"regulatory authorities met with Xu Jiayin, demanding that Evergrande resolve its debt issues as soon as possible.\" The report pointed out that \"the Financial Stability and Development Committee of the State Council of China and...\"<a href=\"https://laohu8.com/S/03333\">China Evergrande</a>During the meeting, Board Chairman Xu Jiayin urged the company to quickly resolve its debt difficulties to avoid triggering financial risks.</p><p>Meanwhile, according to an insider, about a month before this meeting with the Financial Stability and Development Committee, the People's Bank of China and other regulatory agencies held talks with Evergrande, urging it to accelerate the sale of assets, reduce debt, and repay debt in a timely manner.</p><p>A reporter from Yinshi Finance contacted a relevant person in charge of China Evergrande to inquire about the authenticity of the report. The staff member said, \"I don't know where the source of the news is. It's inconvenient to comment.\"</p><p><img src=\"https://static.tigerbbs.com/7bd9c5f6f455ab3d41aa3e821ab0cd24\" tg-width=\"840\" tg-height=\"470\"></p>","source":"lsy1610344500291","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>Rumors circulated that regulators had met with Xu Jiayin, but an Evergrande staff member stated that it was inconvenient to respond.</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\">\nRumors circulated that regulators had met with Xu Jiayin, but an Evergrande staff member stated that it was inconvenient to respond.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">银柿财经</strong><span class=\"h-time small\">2021-07-09 20:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On July 9, media reported that \"regulatory authorities met with Xu Jiayin, demanding that Evergrande resolve its debt issues as soon as possible.\" The report pointed out that \"the Financial Stability and Development Committee of the State Council of China and...\"<a href=\"https://laohu8.com/S/03333\">China Evergrande</a>During the meeting, Board Chairman Xu Jiayin urged the company to quickly resolve its debt difficulties to avoid triggering financial risks.</p><p>Meanwhile, according to an insider, about a month before this meeting with the Financial Stability and Development Committee, the People's Bank of China and other regulatory agencies held talks with Evergrande, urging it to accelerate the sale of assets, reduce debt, and repay debt in a timely manner.</p><p>A reporter from Yinshi Finance contacted a relevant person in charge of China Evergrande to inquire about the authenticity of the report. The staff member said, \"I don't know where the source of the news is. It's inconvenient to comment.\"</p><p><img src=\"https://static.tigerbbs.com/7bd9c5f6f455ab3d41aa3e821ab0cd24\" tg-width=\"840\" tg-height=\"470\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021070920454979d0dc51&s=b\">银柿财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/11035f651c5c16f8f951521b8717a989","relate_stocks":{},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021070920454979d0dc51&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2150372686","content_text":"7月9日，有媒体报道《监管当局约见许家印，要求恒大尽快化解债务问题》，该报道指出，“中国国务院金融稳定发展委员会与中国恒大董事局主席许家印会面时，要求其快化解债务困境，以免引发金融风险。“\n同时据一位知情人士称，在此次与金稳委会面前大约一个月，人行等监管机构曾约谈恒大，督促其加快出售资产、削减债务并及时偿还债务。\n银柿财经记者就该报道的真实性致电中国恒大相关负责人，该工作人员表示：“不知道消息的信源是哪里？不方便回应。”","news_type":1,"symbols_score_info":{"03333":0.9}},"isVote":1,"tweetType":1,"viewCount":7127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130843291,"gmtCreate":1621525940013,"gmtModify":1704359163227,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ?&nbsp;","listText":"? ? ?&nbsp;","text":"? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/130843291","repostId":"1188576028","repostType":4,"isVote":1,"tweetType":1,"viewCount":6969,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374231092,"gmtCreate":1619447562416,"gmtModify":1704724076507,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ?&nbsp;","listText":"? ? ? ?&nbsp;","text":"? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/374231092","repostId":"1112124246","repostType":4,"repost":{"id":"1112124246","kind":"news","pubTimestamp":1619446921,"share":"https://ttm.financial/m/news/1112124246?lang=en_US&edition=fundamental","pubTime":"2021-04-26 22:22","market":"us","language":"zh","title":"Copper prices soared to the highest level in a decade and the non-ferrous metals sector rose","url":"https://stock-news.laohu8.com/highlight/detail?id=1112124246","media":"智通财经","summary":"高盛将未来12个月铜目标价提高到1.1万美元/吨。","content":"<p>On Monday, April 26, the non-ferrous metals sector rose during trading. As of press time,<a href=\"https://laohu8.com/S/FCX\">McMoran Copper Gold</a>It rose more than 6%.<a href=\"https://laohu8.com/S/AA\">Alcoa</a>It rose more than 5%.<a href=\"https://laohu8.com/S/TRQ\">Turquoise Hill Resources</a>It rose more than 4%, and Albert & Paykel Inc. rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/4747a8a90284928bc8ab8f9768b760f4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Previously, global copper prices soared to their highest level in a decade, with LME copper rising to $9,700 per ton at one point. Including<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Other institutions believe that, given the important role of copper in the green energy transition, the climate goals of various countries will make this round of copper price rebound the beginning of a longer-term rise in copper prices.</p><p>Goldman Sachs has raised its 12-month copper price target to $11,000 per ton, up $500 from its reiterated 12-month copper price target two weeks ago, an increase of nearly 4.8%.</p>","source":"highlight_zhitongcaijin","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>Copper prices soared to the highest level in a decade and the non-ferrous metals sector rose</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\">\nCopper prices soared to the highest level in a decade and the non-ferrous metals sector rose\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\">2021-04-26 22:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On Monday, April 26, the non-ferrous metals sector rose during trading. As of press time,<a href=\"https://laohu8.com/S/FCX\">McMoran Copper Gold</a>It rose more than 6%.<a href=\"https://laohu8.com/S/AA\">Alcoa</a>It rose more than 5%.<a href=\"https://laohu8.com/S/TRQ\">Turquoise Hill Resources</a>It rose more than 4%, and Albert & Paykel Inc. rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/4747a8a90284928bc8ab8f9768b760f4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Previously, global copper prices soared to their highest level in a decade, with LME copper rising to $9,700 per ton at one point. Including<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Other institutions believe that, given the important role of copper in the green energy transition, the climate goals of various countries will make this round of copper price rebound the beginning of a longer-term rise in copper prices.</p><p>Goldman Sachs has raised its 12-month copper price target to $11,000 per ton, up $500 from its reiterated 12-month copper price target two weeks ago, an increase of nearly 4.8%.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/458639.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/eeb9a4d452d8568bcc6a2558535ad160","relate_stocks":{"FCX":"麦克莫兰铜金","AA":"美国铝业"},"source_url":"https://www.zhitongcaijing.com/content/detail/458639.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1112124246","content_text":"4月26日(周一)，有色金属板块盘中走高，截至发稿，麦克莫兰铜金涨超6%，美国铝业涨超5%，Turquoise Hill Resources涨超4%，美国雅宝公司涨超3%。此前全球铜价飙升至十年来的最高水平，伦铜一度升至9700美元/吨。包括高盛等机构认为，考虑到铜在绿色能源转型中的重要作用，各国的气候目标将使本轮铜价反弹成为更长维度铜价上涨的开始。高盛将未来12个月铜目标价提高到1.1万美元/吨，较两周前其重申的12个月铜目标价上调500美元，升幅将近4.8%。","news_type":1,"symbols_score_info":{"FCX":0.9,"TRQ":0.9,"AA":0.9}},"isVote":1,"tweetType":1,"viewCount":2465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382824952,"gmtCreate":1613433134276,"gmtModify":1704880382690,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/BNGO\">$BNGO 20210219 10.0 PUT(BNGO)$</a>&nbsp;premiun safe","listText":"<a href=\"https://laohu8.com/S/BNGO\">$BNGO 20210219 10.0 PUT(BNGO)$</a>&nbsp;premiun safe","text":"$BNGO 20210219 10.0 PUT(BNGO)$ premiun safe","images":[{"img":"https://static.tigerbbs.com/93eba30719dcec32f96c0822d35958cf","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/382824952","isVote":1,"tweetType":1,"viewCount":1533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":127743301,"gmtCreate":1624871175603,"gmtModify":1703846679674,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ?","listText":"? ? ? ?","text":"? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/127743301","repostId":"2146881622","repostType":4,"repost":{"id":"2146881622","kind":"news","pubTimestamp":1624870410,"share":"https://ttm.financial/m/news/2146881622?lang=en_US&edition=fundamental","pubTime":"2021-06-28 16:53","market":"us","language":"zh","title":"Are we about to be eliminated by the times? The world's most powerful company suffered a huge loss of $22.4 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2146881622","media":" 正解局","summary":"2005年，美国有3家石化企业跻身前十强；2020年，全部出局。正解局原创\n14年前左右，全球最牛的公司是埃克森美孚。\n这家石油公司，2006年营业收入高居全球第一，2007年市值又高居全球第一，风头","content":"<p>In 2005, three U.S. petrochemical companies ranked among the top ten; In 2020, they were all eliminated. Original article by Zhengjieju</p><p>About 14 years ago, the world's most powerful company was<a href=\"https://laohu8.com/S/XOM\">ExxonMobil</a>。</p><p>This oil company ranked first in the world in revenue in 2006 and first in market capitalization in 2007, enjoying unparalleled success.</p><p>Today, ExxonMobil's market capitalization has shrunk by half, and its operating revenue in 2020 was a loss of $22.4 billion.</p><p>What has ExxonMobil done wrong in just over a decade?</p><p>Are petrochemical companies really having a tough time?</p><p><img src=\"https://static.tigerbbs.com/1ffefa502a3b3b7343aa17156a17e8d6\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\">ExxonMobil, from a prestigious family.</p><p>Its predecessor was the famous Standard Oil Company founded by Rockefeller.</p><p>This largest crude oil producer in the United States monopolizes 95% of the country's refining capacity, 90% of its transportation capacity, and 25% of its crude oil production.</p><p>The extent of the monopoly is unprecedented and unprecedented in American history.</p><p>Because it was so powerful, in 1911 the Standard Oil empire was broken up into about 37 regional oil companies.</p><p>Among them, the largest is Exxon (Standard Oil of New Jersey).</p><p>The general trend of the world will inevitably divide after a long time, and unite after a long time.</p><p>In 1999, ExxonMobil (Standard Oil of New Jersey) and Mobil merged to form ExxonMobil, transforming it into the world's largest oil company.</p><p>A Big Mac is a Big Mac. In the second year after the merger, ExxonMobil appeared on the Fortune Global 500 list, ranking third.</p><p><img src=\"https://static.tigerbbs.com/de976cf6d27f46cb0cf233283bc0397d\" tg-width=\"435\" tg-height=\"539\" referrerpolicy=\"no-referrer\">Top Ten of Fortune Global 500 in 2000</p><p>Since then, ExxonMobil has consistently ranked among the top 5 on the World 500 list. In 2006, it rose to number one in the world.<img src=\"https://static.tigerbbs.com/a05d48e79c0f57ea523f43697f69fdfa\" tg-width=\"660\" tg-height=\"665\" referrerpolicy=\"no-referrer\">Top Ten of Fortune Global 500 in 2006</p><p>2007 was also ExxonMobil's highlight year, with its market capitalization firmly ranking first in the world, reaching a peak of $525 billion.</p><p>This is such a powerful company. Its 2020 financial report showed a loss of $22.44 billion, marking its first loss since the merger and possibly one of the largest loss-making companies in the world.</p><p>The latest market capitalization is only $273.9 billion, only half of its peak.</p><p><img src=\"https://static.tigerbbs.com/93e38d7e4eaef842e365b7effdf8da04\" tg-width=\"840\" tg-height=\"470\">Today, ExxonMobil's market capitalization is only $272.4 billion, barely topping the list.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One-tenth of its $2.24 trillion market capitalization.</p><p>To cope with the losses, ExxonMobil decided to lay off employees, suspend bonuses, and sell assets to save itself.</p><p>After announcing 14,000 job cuts globally in 2020 and 2022, ExxonMobil also plans to reduce the number of employees in its U.S. offices by 5% to 10% annually over the next three to five years.</p><p>Based on ExxonMobil's workforce composition, the U.S. office lays off 1,000 to 3,000 people each year.</p><p>ExxonMobil has also taken measures such as suspending bonus payments and stopping matching employee contributions to 401k savings plans.</p><p>In addition, ExxonMobil will sell its stake in 15 oil fields to recover some blood.<img src=\"https://static.tigerbbs.com/896a25d58495644c16903bb72d3ef94d\" tg-width=\"554\" tg-height=\"370\" referrerpolicy=\"no-referrer\">ExxonMobil chemical plant in Baytown, Texas</p><p>Ordinary employees face the risk of unemployment, and senior management is also having a tough time.</p><p>Previously, ExxonMobil replaced a quarter of its board members due to climate and financial issues.</p><p><img src=\"https://static.tigerbbs.com/c3e19a6be56cb21660acb2bd3624b49d\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p>ExxonMobil's losses were due to chance factors.</p><p>It's worth noting that in 2019, they also earned a net profit of $14.34 billion.</p><p>The huge losses in 2020 were due to the COVID-19 pandemic.</p><p>Due to the impact of the pandemic, oil demand has declined, and international oil prices have also plummeted. For details, please refer to the article \"Sending 84 giant ships to buy oil at the bottom, has China become the biggest winner of the 'oil war'?\" by Zhengjieju.</p><p><img src=\"https://static.tigerbbs.com/e36c5ed02f7d9f7a3b6803cee6cead1d\" tg-width=\"660\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p><p>Crude oil price trend chart in recent years</p><p>With declining sales and lower prices, ExxonMobil's revenue has naturally been greatly affected.</p><p>You see, as the pandemic gradually came under control and international oil prices began to rise, ExxonMobil's revenue began to \"come back to life\".</p><p>The company's net profit attributable to ordinary shareholders for the first fiscal quarter of 2021 was $2.73 billion.</p><p>If we go back to 2019, before the pandemic, we will find that ExxonMobil's net profit also declined compared to 2018.</p><p>Considering its declining market capitalization, ExxonMobil's decline is already a major trend.</p><p>Therefore, there must be internal factors behind ExxonMobil's decline.</p><p>First, the investment failed.</p><p>Energy companies like petrochemicals are engaged in the business of buying and selling energy.</p><p>To develop well, we need to rely on the mergers and expansions of our patriarch, Rockefeller.</p><p>ExxonMobil did inherit this well, early on when the two merged to become the world's largest oil company.</p><p>In its subsequent operations, ExxonMobil continuously purchased high-quality upstream oil and gas assets, with the wishful thinking of \"buying low and selling high\".</p><p>However, sometimes things don't go as planned.</p><p>In 2009, taking advantage of the international financial crisis, ExxonMobil spent a whopping $41 billion to acquire XTO Energy in the United States, acquiring fracking technology and valuable natural gas fields.</p><p>I originally hoped to make a fortune thanks to the surge in natural gas prices. Who would have thought that it would end up on the mountaintop?</p><p>As commodity prices fell in the following years, ExxonMobil invested in losses and eventually withdrew most of its investments.</p><p>Data from investment bank Evercore ISI shows that ExxonMobil spent $261 billion on capital between 2009 and 2019.</p><p>Not only did oil and gas production not expand much, but it actually increased debt by $45 billion.</p><p><img src=\"https://static.tigerbbs.com/a59dc22a96ff6d5e35155840a6e88e07\" tg-width=\"554\" tg-height=\"738\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/1ee1f70017b5261ef909bca6227bfdfa\" tg-width=\"601\" tg-height=\"800\" referrerpolicy=\"no-referrer\"></p><p>ExxonMobil's Investments and Debts</p><p>Secondly, there was a strategic mistake.</p><p>ExxonMobil is very aggressive in investing in oil and gas resources, but very conservative in new energy.</p><p>Like other U.S. oil companies, ExxonMobil believes that demand for oil and gas energy will not decrease in the short term, and that switching to new energy sources would be foolish.</p><p>ExxonMobil is indeed quite stubborn. On the one hand, it looks down on new energy sources, and on the other hand, it invests $1 billion annually in research on \"carbon capture and storage technology\".</p><p><img src=\"https://static.tigerbbs.com/7b9047c394c310e89c3534276bbb39c4\" tg-width=\"660\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p>Schematic diagram of \"Carbon capture and storage technology\"</p><p>This technology, simply put, involves collecting carbon dioxide produced by industrial activities and storing it using various methods to prevent it from being released into the atmosphere.</p><p>ExxonMobil's little idea was that since the reason for not allowing the use of oil was because they were afraid of carbon emissions, they might as well capture and sequester the carbon, so that they could allow the use of oil.</p><p>The ideal is lofty, but the reality is harsh.</p><p>This technology has been researched for forty or fifty years, but there has been little substantial progress.</p><p>ExxonMobil probably \"clicked on the wrong technology tree\".</p><p>Your butt determines your head; that's really unacceptable.</p><p><img src=\"https://static.tigerbbs.com/e76a5235faa31191b4c32e86aa9e1632\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p>Does ExxonMobil's decline mean that petrochemical companies are having a tough time?</p><p>To be precise, it's American petrochemical companies that are having a tough time.</p><p>Let's first look at the 2006 Fortune Global 500, where ExxonMobil ranked first in the world.</p><p>Another noteworthy point is that among the top ten, Royal Dutch Shell,<a href=\"https://laohu8.com/S/BP\">BP</a>company,<a href=\"https://laohu8.com/S/CVX\">Chevron</a>Company, USA<a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a>The companies are all petrochemical enterprises.</p><p>In other words, in 2006, petrochemical companies accounted for five of the world's ten largest companies.</p><p><img src=\"https://static.tigerbbs.com/a05d48e79c0f57ea523f43697f69fdfa\" tg-width=\"660\" tg-height=\"665\" referrerpolicy=\"no-referrer\"></p><p>Top Ten of Fortune Global 500 in 2006</p><p>Looking at the 2020 list, petrochemical companies still occupy 5 of the top ten spots.</p><p><img src=\"https://static.tigerbbs.com/1c6271323e9fc6dd54a697ead7c24fc9\" tg-width=\"593\" tg-height=\"735\" referrerpolicy=\"no-referrer\"></p><p>Top 10 of the 2020 Fortune Global 500</p><p>However, American companies have undergone significant changes.</p><p>In 2005, three U.S. petrochemical companies ranked among the top ten; In 2020, they were all eliminated.</p><p>The collective decline of American petrochemical companies could be analyzed in another article.</p><p>The conservatism of American petrochemical companies may be one of the reasons.</p><p>Unlike those focused on the oil and gas sector, European petrochemical companies have taken the lead.</p><p>BP announced that it will increase its investment in low-emission businesses tenfold over the next 10 years to $5 billion annually, while reducing oil and gas production by 40%.</p><p><a href=\"https://laohu8.com/S/SNP\">Sinopec</a>、<a href=\"https://laohu8.com/S/PTR\">PetroChina</a>It is also undergoing transformation.</p><p>Recently,<a href=\"https://laohu8.com/S/600028\">Sinopec</a>A plan has been announced to deploy 5,000 charging and battery swapping stations, 1,000 hydrogen refueling stations or oil-hydrogen combined stations, and 7,000 distributed photovoltaic power generation stations by 2025.</p><p><img src=\"https://static.tigerbbs.com/b7dc7c42418bdd914f31fab0e6a0e600\" tg-width=\"500\" tg-height=\"326\" referrerpolicy=\"no-referrer\"></p><p>Battery swapping station inside Sinopec gas station</p><p><a href=\"https://laohu8.com/S/601857\">PetroChina</a>They are also exploring the \"oil + electricity\" transformation in many provinces and cities across the country, putting integrated energy supply service stations into operation, combining gas stations and charging piles to provide services for new energy vehicle owners.</p><p>This inward-looking strategic transformation requires courage and is also an important measure to hedge against risks in the traditional petrochemical industry.</p><p>Low-carbon emission reduction has become the trend of the times, and the global energy system is undergoing profound changes.</p><p>Ignoring or even resisting this trend will eventually lead to being abandoned by the times. Disclaimer: The content of this article represents only the views of the author of the submitted article and does not represent the position of Muddy Waters. Please indicate the contributor's name and attach the source (Muddy Waters) when reprinting.<b>Muddy Waters reserves the right to pursue legal action against those who fail to reproduce content in accordance with regulations.</b></p>","source":"lsy1568269639741","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>Are we about to be eliminated by the times? The world's most powerful company suffered a huge loss of $22.4 billion</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\">\nAre we about to be eliminated by the times? The world's most powerful company suffered a huge loss of $22.4 billion\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\"> 正解局</strong><span class=\"h-time small\">2021-06-28 16:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In 2005, three U.S. petrochemical companies ranked among the top ten; In 2020, they were all eliminated. Original article by Zhengjieju</p><p>About 14 years ago, the world's most powerful company was<a href=\"https://laohu8.com/S/XOM\">ExxonMobil</a>。</p><p>This oil company ranked first in the world in revenue in 2006 and first in market capitalization in 2007, enjoying unparalleled success.</p><p>Today, ExxonMobil's market capitalization has shrunk by half, and its operating revenue in 2020 was a loss of $22.4 billion.</p><p>What has ExxonMobil done wrong in just over a decade?</p><p>Are petrochemical companies really having a tough time?</p><p><img src=\"https://static.tigerbbs.com/1ffefa502a3b3b7343aa17156a17e8d6\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\">ExxonMobil, from a prestigious family.</p><p>Its predecessor was the famous Standard Oil Company founded by Rockefeller.</p><p>This largest crude oil producer in the United States monopolizes 95% of the country's refining capacity, 90% of its transportation capacity, and 25% of its crude oil production.</p><p>The extent of the monopoly is unprecedented and unprecedented in American history.</p><p>Because it was so powerful, in 1911 the Standard Oil empire was broken up into about 37 regional oil companies.</p><p>Among them, the largest is Exxon (Standard Oil of New Jersey).</p><p>The general trend of the world will inevitably divide after a long time, and unite after a long time.</p><p>In 1999, ExxonMobil (Standard Oil of New Jersey) and Mobil merged to form ExxonMobil, transforming it into the world's largest oil company.</p><p>A Big Mac is a Big Mac. In the second year after the merger, ExxonMobil appeared on the Fortune Global 500 list, ranking third.</p><p><img src=\"https://static.tigerbbs.com/de976cf6d27f46cb0cf233283bc0397d\" tg-width=\"435\" tg-height=\"539\" referrerpolicy=\"no-referrer\">Top Ten of Fortune Global 500 in 2000</p><p>Since then, ExxonMobil has consistently ranked among the top 5 on the World 500 list. In 2006, it rose to number one in the world.<img src=\"https://static.tigerbbs.com/a05d48e79c0f57ea523f43697f69fdfa\" tg-width=\"660\" tg-height=\"665\" referrerpolicy=\"no-referrer\">Top Ten of Fortune Global 500 in 2006</p><p>2007 was also ExxonMobil's highlight year, with its market capitalization firmly ranking first in the world, reaching a peak of $525 billion.</p><p>This is such a powerful company. Its 2020 financial report showed a loss of $22.44 billion, marking its first loss since the merger and possibly one of the largest loss-making companies in the world.</p><p>The latest market capitalization is only $273.9 billion, only half of its peak.</p><p><img src=\"https://static.tigerbbs.com/93e38d7e4eaef842e365b7effdf8da04\" tg-width=\"840\" tg-height=\"470\">Today, ExxonMobil's market capitalization is only $272.4 billion, barely topping the list.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One-tenth of its $2.24 trillion market capitalization.</p><p>To cope with the losses, ExxonMobil decided to lay off employees, suspend bonuses, and sell assets to save itself.</p><p>After announcing 14,000 job cuts globally in 2020 and 2022, ExxonMobil also plans to reduce the number of employees in its U.S. offices by 5% to 10% annually over the next three to five years.</p><p>Based on ExxonMobil's workforce composition, the U.S. office lays off 1,000 to 3,000 people each year.</p><p>ExxonMobil has also taken measures such as suspending bonus payments and stopping matching employee contributions to 401k savings plans.</p><p>In addition, ExxonMobil will sell its stake in 15 oil fields to recover some blood.<img src=\"https://static.tigerbbs.com/896a25d58495644c16903bb72d3ef94d\" tg-width=\"554\" tg-height=\"370\" referrerpolicy=\"no-referrer\">ExxonMobil chemical plant in Baytown, Texas</p><p>Ordinary employees face the risk of unemployment, and senior management is also having a tough time.</p><p>Previously, ExxonMobil replaced a quarter of its board members due to climate and financial issues.</p><p><img src=\"https://static.tigerbbs.com/c3e19a6be56cb21660acb2bd3624b49d\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p>ExxonMobil's losses were due to chance factors.</p><p>It's worth noting that in 2019, they also earned a net profit of $14.34 billion.</p><p>The huge losses in 2020 were due to the COVID-19 pandemic.</p><p>Due to the impact of the pandemic, oil demand has declined, and international oil prices have also plummeted. For details, please refer to the article \"Sending 84 giant ships to buy oil at the bottom, has China become the biggest winner of the 'oil war'?\" by Zhengjieju.</p><p><img src=\"https://static.tigerbbs.com/e36c5ed02f7d9f7a3b6803cee6cead1d\" tg-width=\"660\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p><p>Crude oil price trend chart in recent years</p><p>With declining sales and lower prices, ExxonMobil's revenue has naturally been greatly affected.</p><p>You see, as the pandemic gradually came under control and international oil prices began to rise, ExxonMobil's revenue began to \"come back to life\".</p><p>The company's net profit attributable to ordinary shareholders for the first fiscal quarter of 2021 was $2.73 billion.</p><p>If we go back to 2019, before the pandemic, we will find that ExxonMobil's net profit also declined compared to 2018.</p><p>Considering its declining market capitalization, ExxonMobil's decline is already a major trend.</p><p>Therefore, there must be internal factors behind ExxonMobil's decline.</p><p>First, the investment failed.</p><p>Energy companies like petrochemicals are engaged in the business of buying and selling energy.</p><p>To develop well, we need to rely on the mergers and expansions of our patriarch, Rockefeller.</p><p>ExxonMobil did inherit this well, early on when the two merged to become the world's largest oil company.</p><p>In its subsequent operations, ExxonMobil continuously purchased high-quality upstream oil and gas assets, with the wishful thinking of \"buying low and selling high\".</p><p>However, sometimes things don't go as planned.</p><p>In 2009, taking advantage of the international financial crisis, ExxonMobil spent a whopping $41 billion to acquire XTO Energy in the United States, acquiring fracking technology and valuable natural gas fields.</p><p>I originally hoped to make a fortune thanks to the surge in natural gas prices. Who would have thought that it would end up on the mountaintop?</p><p>As commodity prices fell in the following years, ExxonMobil invested in losses and eventually withdrew most of its investments.</p><p>Data from investment bank Evercore ISI shows that ExxonMobil spent $261 billion on capital between 2009 and 2019.</p><p>Not only did oil and gas production not expand much, but it actually increased debt by $45 billion.</p><p><img src=\"https://static.tigerbbs.com/a59dc22a96ff6d5e35155840a6e88e07\" tg-width=\"554\" tg-height=\"738\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/1ee1f70017b5261ef909bca6227bfdfa\" tg-width=\"601\" tg-height=\"800\" referrerpolicy=\"no-referrer\"></p><p>ExxonMobil's Investments and Debts</p><p>Secondly, there was a strategic mistake.</p><p>ExxonMobil is very aggressive in investing in oil and gas resources, but very conservative in new energy.</p><p>Like other U.S. oil companies, ExxonMobil believes that demand for oil and gas energy will not decrease in the short term, and that switching to new energy sources would be foolish.</p><p>ExxonMobil is indeed quite stubborn. On the one hand, it looks down on new energy sources, and on the other hand, it invests $1 billion annually in research on \"carbon capture and storage technology\".</p><p><img src=\"https://static.tigerbbs.com/7b9047c394c310e89c3534276bbb39c4\" tg-width=\"660\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p>Schematic diagram of \"Carbon capture and storage technology\"</p><p>This technology, simply put, involves collecting carbon dioxide produced by industrial activities and storing it using various methods to prevent it from being released into the atmosphere.</p><p>ExxonMobil's little idea was that since the reason for not allowing the use of oil was because they were afraid of carbon emissions, they might as well capture and sequester the carbon, so that they could allow the use of oil.</p><p>The ideal is lofty, but the reality is harsh.</p><p>This technology has been researched for forty or fifty years, but there has been little substantial progress.</p><p>ExxonMobil probably \"clicked on the wrong technology tree\".</p><p>Your butt determines your head; that's really unacceptable.</p><p><img src=\"https://static.tigerbbs.com/e76a5235faa31191b4c32e86aa9e1632\" tg-width=\"660\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p>Does ExxonMobil's decline mean that petrochemical companies are having a tough time?</p><p>To be precise, it's American petrochemical companies that are having a tough time.</p><p>Let's first look at the 2006 Fortune Global 500, where ExxonMobil ranked first in the world.</p><p>Another noteworthy point is that among the top ten, Royal Dutch Shell,<a href=\"https://laohu8.com/S/BP\">BP</a>company,<a href=\"https://laohu8.com/S/CVX\">Chevron</a>Company, USA<a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a>The companies are all petrochemical enterprises.</p><p>In other words, in 2006, petrochemical companies accounted for five of the world's ten largest companies.</p><p><img src=\"https://static.tigerbbs.com/a05d48e79c0f57ea523f43697f69fdfa\" tg-width=\"660\" tg-height=\"665\" referrerpolicy=\"no-referrer\"></p><p>Top Ten of Fortune Global 500 in 2006</p><p>Looking at the 2020 list, petrochemical companies still occupy 5 of the top ten spots.</p><p><img src=\"https://static.tigerbbs.com/1c6271323e9fc6dd54a697ead7c24fc9\" tg-width=\"593\" tg-height=\"735\" referrerpolicy=\"no-referrer\"></p><p>Top 10 of the 2020 Fortune Global 500</p><p>However, American companies have undergone significant changes.</p><p>In 2005, three U.S. petrochemical companies ranked among the top ten; In 2020, they were all eliminated.</p><p>The collective decline of American petrochemical companies could be analyzed in another article.</p><p>The conservatism of American petrochemical companies may be one of the reasons.</p><p>Unlike those focused on the oil and gas sector, European petrochemical companies have taken the lead.</p><p>BP announced that it will increase its investment in low-emission businesses tenfold over the next 10 years to $5 billion annually, while reducing oil and gas production by 40%.</p><p><a href=\"https://laohu8.com/S/SNP\">Sinopec</a>、<a href=\"https://laohu8.com/S/PTR\">PetroChina</a>It is also undergoing transformation.</p><p>Recently,<a href=\"https://laohu8.com/S/600028\">Sinopec</a>A plan has been announced to deploy 5,000 charging and battery swapping stations, 1,000 hydrogen refueling stations or oil-hydrogen combined stations, and 7,000 distributed photovoltaic power generation stations by 2025.</p><p><img src=\"https://static.tigerbbs.com/b7dc7c42418bdd914f31fab0e6a0e600\" tg-width=\"500\" tg-height=\"326\" referrerpolicy=\"no-referrer\"></p><p>Battery swapping station inside Sinopec gas station</p><p><a href=\"https://laohu8.com/S/601857\">PetroChina</a>They are also exploring the \"oil + electricity\" transformation in many provinces and cities across the country, putting integrated energy supply service stations into operation, combining gas stations and charging piles to provide services for new energy vehicle owners.</p><p>This inward-looking strategic transformation requires courage and is also an important measure to hedge against risks in the traditional petrochemical industry.</p><p>Low-carbon emission reduction has become the trend of the times, and the global energy system is undergoing profound changes.</p><p>Ignoring or even resisting this trend will eventually lead to being abandoned by the times. Disclaimer: The content of this article represents only the views of the author of the submitted article and does not represent the position of Muddy Waters. Please indicate the contributor's name and attach the source (Muddy Waters) when reprinting.<b>Muddy Waters reserves the right to pursue legal action against those who fail to reproduce content in accordance with regulations.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/7-k9ecgcKloqfvP1ovs-4w\"> 正解局</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/896a25d58495644c16903bb72d3ef94d","relate_stocks":{"XOM":"埃克森美孚"},"source_url":"https://mp.weixin.qq.com/s/7-k9ecgcKloqfvP1ovs-4w","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146881622","content_text":"2005年，美国有3家石化企业跻身前十强；2020年，全部出局。正解局原创\n14年前左右，全球最牛的公司是埃克森美孚。\n这家石油公司，2006年营业收入高居全球第一，2007年市值又高居全球第一，风头一时无两。\n今天，埃克森美孚市值缩水一半，2020年营业收入更是亏损了224亿美元。\n短短十多年，埃克森美孚做错了什么？\n石化企业，日子真的不好过了吗？\n埃克森美孚，出身名门。\n其前身，便是洛克菲勒创办的大名鼎鼎的标准石油公司。\n这家美国最大的原油生产商，垄断了美国95%的炼油能力、90%的输油能力、25%的原油产量。\n垄断力度之大，在美国历史上，前无古人，亦后无来者。\n因为实在过于强大，1911年，标准石油帝国被拆分为约37家地区性石油公司。\n其中，最大的那一家，便是埃克森（新泽西标准石油）。\n天下大势，合久必分，分久必合。\n1999年，埃克森石油（新泽西标准石油）与美孚石油合并为埃克森美孚公司，摇身一变，又成为了世界第一大石油公司。\n巨无霸就是巨无霸。合并的第二年，埃克森美孚登上了财富世界500强榜单，位列第三名。\n2000年世界500强排行榜前十\n此后，埃克森美孚便常年在世界500榜单前5强。2006年，更是一举跃居世界第一。2006年世界500强排行榜前十\n2007年也是埃克森美孚的高光时刻，市值稳居全球第一，峰值时期曾达到5250亿美元。\n就是这么一家牛逼的公司，2020年的财报显示，亏损224.40亿美元，这是合并以来首次亏损，可能也是全球亏损最多的公司之一。\n最新的市值，也只有2739亿美元，仅为巅峰时期的一半。\n而到如今，埃克森美孚的市值仅为2724亿美元，勉强达到榜首苹果的2.24万亿美元市值的1/10。\n为了应对亏损，埃克森美孚决定裁员、暂停发奖金、卖资产以自救。\n自2020年宣布到2022年在全球裁员14000人之后，埃克森美孚还计划在未来三到五年内，将其美国办事处的员工人数每年减少5%至10%。\n按照埃克森美孚的员工构成，美国办事处每年要裁掉1000到3000人。\n埃克森美孚还采取暂停发放奖金、停止员工对401k储蓄计划的贡献匹配等措施。\n此外，埃克森美孚将出售15个油田的股份，回点血。位于得克萨斯州贝敦的埃克森美孚化工厂\n普通员工面临失业风险，高层的日子也不好过。\n此前，因气候和财务问题，埃克森美孚更换了四分之一的董事会成员。\n\n埃克森美孚亏损，有偶然因素。\n要知道，2019年，他们还赚了143.40亿美元的净利润。\n2020年巨亏，这个偶然因素就是新冠疫情。\n受疫情影响，石油需求下降，国际油价也大跌，具体可看正解局《派84艘巨轮抄底石油，中国成为“石油大战”最大赢家？》这篇文章。\n\n近几年的原油价格走势图\n销量下降，价格又降低，埃克森美孚的营收自然大受影响。\n你看，随着疫情逐步被控制，国际油价开始上升，埃克森美孚的营收，又开始“起死回生”。\n公司2021财年第一财季显示，归属于普通股东净利润为27.30亿美元。\n如果我们回到疫情之前的2019年，会发现，与2018年相比，埃克森美孚的净利润也是下降的。\n再联系其一路下跌的市值，埃克森美孚衰退，已是大势。\n因此，埃克森美孚的衰退背后，肯定有着内在因素。\n其一，投资失败。\n像石化这样的能源企业，做的就是买卖能源的生意。\n要想发展得好，就要靠祖师爷洛克菲勒兼并、扩产那一套。\n埃克森美孚确实很好地继承了这一点，早期便是两家合并，一举登顶全球最大石油企业。\n在此后的经营中，埃克森美孚不断购买优质上游油气资产，打的是“低买高卖”的如意算盘。\n然而，有时候人算不如天算。\n2009年，趁着国际金融危机，埃克森美孚豪掷410亿美元收购美国XTO能源公司，拿下压裂技术和珍贵的天然气田。\n本来期望靠天然气大涨，狠赚一把。谁承想，抄在了山顶。\n随着此后几年大宗商品价格的下跌，埃克森美孚投资陷入亏损，最终撤销了大部分投资。\n投资银行Evercore ISI的数据显示，2009年至2019年期间，埃克森美孚的资本支出为2610亿美元。\n不仅油气产量没扩大多少，反而增加了450亿美元的债务。\n\n埃克森美孚的投资与债务\n其二，战略失误。\n埃克森美孚在投资油气资源上，非常激进，在新能源上，又很保守。\n如其他美国石油企业一样，埃克森美孚也认为，短期内，油气能源需求不会减少，转向新能源是愚蠢。\n埃克森美孚确实比较顽固，一方面看不上新能源，另一方面每年投资10亿美元在“碳捕获与封存技术”研究上。\n\n“碳捕获与封存技术”示意图\n这项技术，简单来说，就是将工业生活活动所产生的二氧化碳收集起来，并用各种方法储存，以避免其排放到大气中。\n埃克森美孚的小心思是，既然不让用石油的原因是怕碳排放，那我索性把碳捕捉并封存起来，这样就可以让用石油了。\n理想很丰满，现实很骨感。\n这项技术研究了四五十年，也没什么实质性的进展。\n埃克森美孚大概是“点错了科技树”。\n屁股决定脑袋，实在要不得。\n\n埃克森美孚的衰退，是不是意味着石化企业，日子不好过了？\n准确地说，是美国石化企业，日子不好过了。\n还是先看2006年世界500强，埃克森美孚位居世界第一。\n另一个值得注意的情况是，前十强中，荷兰皇家壳牌石油公司、英国石油公司、雪佛龙公司、美国康菲石油公司都是石化企业。\n也就是说，2006年全球最大的十家公司，石化企业独占5家。\n\n2006年世界500强排行榜前十\n再看2020年榜单，前十强中，石化企业依然占据5席。\n\n2020年世界500强排行榜前十\n只是，美国企业变化比较大。\n2005年，美国有3家石化企业跻身前十强；2020年，全部出局。\n美国石化企业的集体性衰退，可以另写一篇文章分析。\n美国石化企业的保守，可能是原因之一。\n与固守油气领域不同，欧洲石化企业已先行一步。\n英国石油公司宣布，未来10年将把低排放业务的投资增加10倍，达到每年50亿美元，同时将油气产量缩减40%。\n中石化、中石油也在转型。\n最近，中国石化对外宣布了一项规划，到2025年将布局5000座充换电站，1000座加氢站或油氢合建站，以及7000座分布式光伏发电站点。\n\n中石化加油站内换电站\n中国石油也在全国多个省市探索“油＋电”转型，投运综合供能服务站，将加油站与充电桩合二为一，为新能源车主提供服务。\n这种刀刃向内的战略转型，需要勇气，也是对冲传统石化行业风险的重要举措。\n低碳减排已成时代大势，全球能源体系正发生深刻变化。\n无视乃至抵制这种趋势，终将为时代所抛弃。声明：本文内容仅代表该投稿文章作者观点，不代表浑水号立场。转载请注明投稿人姓名并附上本文出处（浑水号）。未按照规范转载者，浑水号保留追究相应责任的权利","news_type":1,"symbols_score_info":{"XOM":0.9}},"isVote":1,"tweetType":1,"viewCount":7015,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190942789,"gmtCreate":1620575882641,"gmtModify":1704345112391,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ?&nbsp;","listText":"? ? ? ?&nbsp;","text":"? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/190942789","repostId":"1164615477","repostType":4,"isVote":1,"tweetType":1,"viewCount":6529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372856465,"gmtCreate":1619193208057,"gmtModify":1704721142874,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ? ? ?&nbsp;","listText":"? ? ? ? ? ?&nbsp;","text":"? ? ? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/372856465","repostId":"2129035903","repostType":4,"repost":{"id":"2129035903","kind":"news","weMediaInfo":{"introduction":"全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。","home_visible":1,"media_name":"英为财情Investing","id":"92","head_image":"https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313"},"pubTimestamp":1619191931,"share":"https://ttm.financial/m/news/2129035903?lang=en_US&edition=fundamental","pubTime":"2021-04-23 23:32","market":"us","language":"zh","title":"Two K-12 giants have released their financial reports one after another. Which one has \"TAL Education Group\"?","url":"https://stock-news.laohu8.com/highlight/detail?id=2129035903","media":"英为财情Investing","summary":"中国两大教育巨头近日前后脚公布了最新的财报数据，在经历了股价波动性较高的一季度以后，这两家公司的财报受到了投资者的密切关注。\n根据行情数据显示，和在美股上市的股票价格今年以来已经双双累计跌逾12%，这","content":"<p>China's two major education giants recently released their latest financial reports one after the other. After a highly volatile first quarter, the financial reports of these two companies have attracted close attention from investors.</p><p>According to market data, the prices of stocks listed on the US stock market have both fallen by more than 12% this year. This is not only significantly weaker than the performance of the US stock market, but also does not conform to the trend of vigorous economic recovery in the \"post-pandemic\" era.</p><p>The weakness of Chinese concept education stocks can be traced back to January of this year, when the website of the Central Commission for Discipline Inspection and the National Supervisory Commission published an article directly pointing out the various problems existing in online education. There are also media reports that after-school tutoring institutions have been subject to surprise inspections by relevant regulatory authorities. At that time<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>They remained noncommittal about this news.</p><p>In the following months, online education was frequently named by relevant departments and state media, and the question of how to regulate the education and training industry also sparked heated discussions in society. Education Minister Chen Baosheng recently stated that a major effort will be made to regulate and rectify after-school training institutions this year. On March 31, Lu Yugang, Director of the Department of Basic Education of the Ministry of Education, said at a press conference held by the State Council Information Office that the Ministry of Education has included the governance of training institutions in its key tasks this year and will further strengthen the governance of after-school training institutions. With the successive introduction of regulatory policies, 2021 is also regarded as a transformative year for the education and training industry.</p><p>Under strict regulations, Wall Street has also shifted its focus.<a href=\"https://laohu8.com/S/C\">Citi</a>Analysts will<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>The target price was lowered by $20; And<a href=\"https://laohu8.com/S/JEF\">Jeffrey</a>Analysts believe that regulation will not have a significant impact on leading companies. However, the investment bank also stated that, given the current abundance of news, investors have chosen to \"vote with their feet\" and sell their stocks first, which is a common way for Wall Street investors to handle negative news about international stocks.</p><p><b>1、</b>TAL Education Group</p><p>According to the latest data released by TAL Education Group, the company's revenue in the fourth quarter of fiscal year 2021 was US$1.36 billion, a year-on-year increase of 59%, exceeding the guidance forecast of US$1.175 billion to US$1.2 billion announced in Q3. The company achieved revenue of approximately US$4.5 billion for the whole year, a year-on-year increase of 37.3%. However, its losses also widened, with a net loss of $169 million in the fourth quarter, an 87.56% increase from a net loss of $90 million in the same period last year, and a net loss of $116 million for the whole year.</p><p>It should be noted that TAL Education Group's increased losses are mainly due to the significant increase in marketing expenses brought about by the online education war. Recently, competition among leading online education institutions has intensified, leading to a further surge in the company's advertising investment and a significant increase in overall marketing expenses. Specifically, the company's sales expenses reached $660 million in Q4, a significant increase of 172% year-on-year; Sales expenses for the year reached 1.68 billion yuan, a significant increase of 37.4% year-on-year.</p><p>Despite being backed by a strict regulatory environment and the issue of excessive advertising before the winter break, which has attracted the attention of regulatory authorities, the company's online course revenue in Q4 was approximately $440 million, a year-on-year increase of 115%, accounting for a significant increase from 24% in the same period last year to 32%. The number of participants in long-term full-price courses increased by 71% year-on-year to 3.5 million, and the full-price course ASP increased by 9% year-on-year.</p><p>According to market data from Investing.com, when TAL Education Group first released its financial report, the market gave the stock a relatively positive reaction (up about 6% in pre-market trading), but the stock price subsequently fell and ultimately closed down 2.16%.</p><p>Market analysts believe that despite the severe pressure of college entrance examinations in China, the company still has huge opportunities in the after-school tutoring market. Although the competition is fierce, the competition will become calmer under the background of stricter regulations, and its management of marketing expenses is also expected to improve. The company will be more rational in its online expansion in the future. Moreover, its cash flow is still as high as $5.938 billion.</p><p>TAL Education Group expects its revenue to increase by 43%-45% year-on-year in Q1 of fiscal year 2022 (the three months ended May 31, 2021), to be between US$1,302.2 billion and US$1,320.5 billion.</p><p><b>2、</b>New Oriental</p><p>Earlier this week, TAL Education Group's number one competitor, New Oriental, also released its financial report. Data shows that in the third quarter of fiscal year 2021, New Oriental's net revenue exceeded US$1.19 billion, a year-on-year increase of 29%, and in addition, Q3 revenue was US$3.151 billion, a year-on-year increase of 9.9%. Earnings per ADS were $0.09, unchanged from $0.09 in the same period last year, compared to market expectations of $0.06.</p><p>Like TAL Education Group, facing a fiercely competitive environment, the company's business expansion has also led to increased costs. Data shows that in Q3 of fiscal year 2021, New Oriental continued to expand the coverage of its OMO system, investing US$59 million to pilot OMO online courses in existing cities and 25 new satellite cities in the surrounding area. (The OMO strategy refers to the Online-Merge-Offline model, which aims to deeply integrate Online and Offline channels. It is considered the business model with the greatest improvement in market efficiency after O2O.)</p><p>In the third quarter of fiscal year 2021, New Oriental's operating costs and expenses were US$1.089 billion, an increase of 35.1% year-over-year; Cost of revenue was $529.5 million, a year-over-year increase of 35.3%; Selling and marketing expenses were US$156.1 million, representing a year-on-year increase of 32.0%; General and administrative expenses amounted to US$393.4 million, representing a year-on-year increase of 36.1%. However, rising costs have also suppressed the company's profit margins.</p><p>However, New Oriental remained profitable, which made Wall Street investors more \"tolerant\" of it. On the day the earnings report was released, the company's stock price closed up more than 6.4%.</p><p>Analysts believe that with China effectively controlling the pandemic, offline education has also rebounded, and the two educational methods can complement each other, helping established educational institutions like New Oriental seize more market share and resources. However, it is undeniable that in the fiercely competitive environment, the erosion of the stock's market share by other industry players cannot be ignored.</p><p>New Oriental forecasts that its revenue will increase by 38%-43% year-over-year in Q4 of fiscal year 2021 (the three months ended May 31, 2021), to between US$1,101.9 billion and US$1,141.8 billion.</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>Two K-12 giants have released their financial reports one after another. Which one has \"TAL Education Group\"?</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\">\nTwo K-12 giants have released their financial reports one after another. Which one has \"TAL Education Group\"?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/92\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">英为财情Investing </p>\n<p class=\"h-time smaller\">2021-04-23 23:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>China's two major education giants recently released their latest financial reports one after the other. After a highly volatile first quarter, the financial reports of these two companies have attracted close attention from investors.</p><p>According to market data, the prices of stocks listed on the US stock market have both fallen by more than 12% this year. This is not only significantly weaker than the performance of the US stock market, but also does not conform to the trend of vigorous economic recovery in the \"post-pandemic\" era.</p><p>The weakness of Chinese concept education stocks can be traced back to January of this year, when the website of the Central Commission for Discipline Inspection and the National Supervisory Commission published an article directly pointing out the various problems existing in online education. There are also media reports that after-school tutoring institutions have been subject to surprise inspections by relevant regulatory authorities. At that time<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>They remained noncommittal about this news.</p><p>In the following months, online education was frequently named by relevant departments and state media, and the question of how to regulate the education and training industry also sparked heated discussions in society. Education Minister Chen Baosheng recently stated that a major effort will be made to regulate and rectify after-school training institutions this year. On March 31, Lu Yugang, Director of the Department of Basic Education of the Ministry of Education, said at a press conference held by the State Council Information Office that the Ministry of Education has included the governance of training institutions in its key tasks this year and will further strengthen the governance of after-school training institutions. With the successive introduction of regulatory policies, 2021 is also regarded as a transformative year for the education and training industry.</p><p>Under strict regulations, Wall Street has also shifted its focus.<a href=\"https://laohu8.com/S/C\">Citi</a>Analysts will<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>The target price was lowered by $20; And<a href=\"https://laohu8.com/S/JEF\">Jeffrey</a>Analysts believe that regulation will not have a significant impact on leading companies. However, the investment bank also stated that, given the current abundance of news, investors have chosen to \"vote with their feet\" and sell their stocks first, which is a common way for Wall Street investors to handle negative news about international stocks.</p><p><b>1、</b>TAL Education Group</p><p>According to the latest data released by TAL Education Group, the company's revenue in the fourth quarter of fiscal year 2021 was US$1.36 billion, a year-on-year increase of 59%, exceeding the guidance forecast of US$1.175 billion to US$1.2 billion announced in Q3. The company achieved revenue of approximately US$4.5 billion for the whole year, a year-on-year increase of 37.3%. However, its losses also widened, with a net loss of $169 million in the fourth quarter, an 87.56% increase from a net loss of $90 million in the same period last year, and a net loss of $116 million for the whole year.</p><p>It should be noted that TAL Education Group's increased losses are mainly due to the significant increase in marketing expenses brought about by the online education war. Recently, competition among leading online education institutions has intensified, leading to a further surge in the company's advertising investment and a significant increase in overall marketing expenses. Specifically, the company's sales expenses reached $660 million in Q4, a significant increase of 172% year-on-year; Sales expenses for the year reached 1.68 billion yuan, a significant increase of 37.4% year-on-year.</p><p>Despite being backed by a strict regulatory environment and the issue of excessive advertising before the winter break, which has attracted the attention of regulatory authorities, the company's online course revenue in Q4 was approximately $440 million, a year-on-year increase of 115%, accounting for a significant increase from 24% in the same period last year to 32%. The number of participants in long-term full-price courses increased by 71% year-on-year to 3.5 million, and the full-price course ASP increased by 9% year-on-year.</p><p>According to market data from Investing.com, when TAL Education Group first released its financial report, the market gave the stock a relatively positive reaction (up about 6% in pre-market trading), but the stock price subsequently fell and ultimately closed down 2.16%.</p><p>Market analysts believe that despite the severe pressure of college entrance examinations in China, the company still has huge opportunities in the after-school tutoring market. Although the competition is fierce, the competition will become calmer under the background of stricter regulations, and its management of marketing expenses is also expected to improve. The company will be more rational in its online expansion in the future. Moreover, its cash flow is still as high as $5.938 billion.</p><p>TAL Education Group expects its revenue to increase by 43%-45% year-on-year in Q1 of fiscal year 2022 (the three months ended May 31, 2021), to be between US$1,302.2 billion and US$1,320.5 billion.</p><p><b>2、</b>New Oriental</p><p>Earlier this week, TAL Education Group's number one competitor, New Oriental, also released its financial report. Data shows that in the third quarter of fiscal year 2021, New Oriental's net revenue exceeded US$1.19 billion, a year-on-year increase of 29%, and in addition, Q3 revenue was US$3.151 billion, a year-on-year increase of 9.9%. Earnings per ADS were $0.09, unchanged from $0.09 in the same period last year, compared to market expectations of $0.06.</p><p>Like TAL Education Group, facing a fiercely competitive environment, the company's business expansion has also led to increased costs. Data shows that in Q3 of fiscal year 2021, New Oriental continued to expand the coverage of its OMO system, investing US$59 million to pilot OMO online courses in existing cities and 25 new satellite cities in the surrounding area. (The OMO strategy refers to the Online-Merge-Offline model, which aims to deeply integrate Online and Offline channels. It is considered the business model with the greatest improvement in market efficiency after O2O.)</p><p>In the third quarter of fiscal year 2021, New Oriental's operating costs and expenses were US$1.089 billion, an increase of 35.1% year-over-year; Cost of revenue was $529.5 million, a year-over-year increase of 35.3%; Selling and marketing expenses were US$156.1 million, representing a year-on-year increase of 32.0%; General and administrative expenses amounted to US$393.4 million, representing a year-on-year increase of 36.1%. However, rising costs have also suppressed the company's profit margins.</p><p>However, New Oriental remained profitable, which made Wall Street investors more \"tolerant\" of it. On the day the earnings report was released, the company's stock price closed up more than 6.4%.</p><p>Analysts believe that with China effectively controlling the pandemic, offline education has also rebounded, and the two educational methods can complement each other, helping established educational institutions like New Oriental seize more market share and resources. However, it is undeniable that in the fiercely competitive environment, the erosion of the stock's market share by other industry players cannot be ignored.</p><p>New Oriental forecasts that its revenue will increase by 38%-43% year-over-year in Q4 of fiscal year 2021 (the three months ended May 31, 2021), to between US$1,101.9 billion and US$1,141.8 billion.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/95a52bac654e212de5e6a737e01fc5ff","relate_stocks":{"09901":"新东方-S","EDU":"新东方","TAL":"好未来"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129035903","content_text":"中国两大教育巨头近日前后脚公布了最新的财报数据，在经历了股价波动性较高的一季度以后，这两家公司的财报受到了投资者的密切关注。\n根据行情数据显示，和在美股上市的股票价格今年以来已经双双累计跌逾12%，这不仅大幅弱于美股大盘的走势，也并不符合“后疫情”时代经济蓬勃复苏的趋势。\n中概教育股的弱势，可以追溯到今年1月，彼时，中央纪委国家监委网站发文直指在线教育存在的种种问题。还有媒体消息称，课后辅导机构受到了相关监管部门的突击检查。而当时新东方对这一消息不置可否。\n接下来的几个月里，在线教育频频被有关部门和官媒点名，关于如何规范教培行业的问题也引发了社会热议。教育部部长陈宝生近期表示，今年要大力度治理整顿校外培训机构。3月31日，教育部基础教育司司长吕玉刚在国新办发布会上表示，今年教育部把培训机构治理工作列入重点工作任务，进一步加大校外培训机构治理力度。随着监管政策的陆续出台，2021年也被视作教培行业变革性的一年。\n严监管环境下，华尔街也纷纷转向，花旗的分析师将好未来的目标价下调了20美元；而杰富瑞的分析师则认为，监管对于龙头企业的影响不会太大。但是该投行也表示，在当前消息较多的情况下，投资者选择了“用脚投票”，先抛售股票，这是华尔街投资者对国际股票负面消息常见的处理方式。\n1、好未来\n好未来最新公布的数据显示，公司2021财年Q4季度营收为13.6亿美元，同比增长59%，优于公司Q3时公布的指引预期11.75-12亿美元之间，全年公司实现收入约45亿美元，同比增长37.3%。但是，其亏损也放大，第四季净亏损为1.69亿美元，较上年同期的净亏损0.90亿美元扩大87.56%，全年净亏损为1.160亿美元。\n需要注意的是，好未来的亏损加大，主要是因为线上教育大战所带来的营销费用大幅增长。近期，各大头部在线教育机构之间的竞争越发激烈，公司的广告投入也进一步激增，整体营销费用大幅飙升。具体而言，公司Q4销售费用达到6.6亿美元，同比大增172%；全年销售费用16.8亿元，同比大增37.4%。\n虽然背靠严监管环境，而且寒假前的广告大量投放问题，被监管部门关注，但是Q4公司在线课程实现收入约4.4亿美元，同比增长115%，占比从去年同期的24%大幅增至32%，长期正价课程的参培人数同比增长71%达到350万人，正价课程ASP同比增长9%。\n根据英为财情Investing.com的行情数据显示，在好未来公布财报之初，市场给予该股较为正面的反应(盘前涨约6%)，但是随后股价回落，最终收跌2.16%。\n市场分析师认为，在中国严峻的升学压力之下，公司在课外辅导市场仍然具备巨大机会，虽然竞争激烈，但是在监管趋严的背景下，竞争会更加趋于冷静，其在营销费用的管理方面也有望提升。公司后市在线上扩张方面更理性。而且其现金流仍然高达59.38亿美元。\n好未来预计，2022财年Q1(截至2021年5月31日止三个月)，其营收同比增长43%-45%，至13.022亿美元-13.205亿美元之间。\n2、新东方\n本周稍早前，好未来的头号竞争对手新东方也发布了财报。数据显示，2021财年第三季度，新东方净收入超11.9亿美元，同比增长29%，此外，Q31.51亿美元，同比增长9.9%。每ADS盈利0.09美元，和去年同期的0.09美元持平，市场预期0.06美元。\n和好未来一样，面对激烈的竞争环境，公司业务扩张也导致了成本的增加，数据显示，2021财年Q3，新东方继续扩大OMO系统的覆盖范围，投入5900万美元，在现有城市和周围的25个新的卫星城市中试用OMO在线课程。(OMO战略是指Online-Merge-Offline模式，旨在深度融合线上和线下渠道，被认为是继O2O之后市场效率更大提升的商业模式。)\n在2021财年第三季度，新东方运营成本和开支为10.890亿美元，同比增长35.1%；营收成本为5.295亿美元，同比增长35.3%；销售及营销开支为1.561亿美元，同比增长32.0%；总务及行政开支为3.934亿美元，同比增长36.1%。不过成本的增长也导致了公司的利润空间受到压制。\n不过，新东方仍然盈利，这也让华尔街的投资者对其更为“宽容”，在财报发布当日，公司股价收盘涨超6.4%。\n分析师认为，在中国较好地控制疫情的情况下，线下教育也已经回暖，两种教育方式就能得到相互补充，可以帮助新东方这样的老牌教育机构抢占更多市场和资源。但是不可否认的是，激烈的竞争环境中，其他行业参与者对该股市场份额的侵蚀也不容忽视。\n新东方预测，2021财年Q4(截至2021年5月31日止三个月)，其营收同比增长38%-43%，至11.019亿美元-11.418亿美元之间。","news_type":1,"symbols_score_info":{"09901":0.9,"EDU":0.9,"TAL":0.9}},"isVote":1,"tweetType":1,"viewCount":2465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357492611,"gmtCreate":1617288267833,"gmtModify":1704698415061,"author":{"id":"3573373078542650","authorId":"3573373078542650","name":"KeithHan","avatar":"https://static.tigerbbs.com/499148728d0c775136a5099e0d8769c0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373078542650","idStr":"3573373078542650"},"themes":[],"title":"","htmlText":"? ? ? ? ? ? ? ?","listText":"? ? ? ? ? ? ? ?","text":"? ? ? ? ? ? ? ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/357492611","repostId":"1123979727","repostType":4,"repost":{"id":"1123979727","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":1617287972,"share":"https://ttm.financial/m/news/1123979727?lang=en_US&edition=fundamental","pubTime":"2021-04-01 22:39","market":"us","language":"zh","title":"Uxin's stock price surged over 40% after the company signed investment letters of intent with two well-known funds.","url":"https://stock-news.laohu8.com/highlight/detail?id=1123979727","media":"老虎资讯综合","summary":"4月1日，优信二手车盘中暴涨超40%，公司与两家知名的亚洲基金签订投资意向书。优信二手车宣布，公司已于4月1日与两家亚洲投资基金签订具约束力的投资意向书。据此，潜在投资者已同意与公司就认购高级可转换优","content":"<p>April 1st,<a href=\"https://laohu8.com/S/UXIN\">Uxin</a>The used car market surged more than 40% intraday after the company signed investment letters of intent with two well-known Asian funds.</p><p><img src=\"https://static.tigerbbs.com/2167fabccf148c1d56d49b6c72965108\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/UXIN\">Uxin</a>The used car company announced that it signed binding letters of intent for investment with two Asian investment funds on April 1. Accordingly, potential investors have agreed to negotiate with the company regarding the subscription of senior convertible preferred shares and may sign a final agreement. The total investment for the potential transaction may reach up to US$300 million.</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>Uxin's stock price surged over 40% after the company signed investment letters of intent with two well-known funds.</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\">\nUxin's stock price surged over 40% after the company signed investment letters of intent with two well-known funds.\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\">2021-04-01 22:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>April 1st,<a href=\"https://laohu8.com/S/UXIN\">Uxin</a>The used car market surged more than 40% intraday after the company signed investment letters of intent with two well-known Asian funds.</p><p><img src=\"https://static.tigerbbs.com/2167fabccf148c1d56d49b6c72965108\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/UXIN\">Uxin</a>The used car company announced that it signed binding letters of intent for investment with two Asian investment funds on April 1. Accordingly, potential investors have agreed to negotiate with the company regarding the subscription of senior convertible preferred shares and may sign a final agreement. The total investment for the potential transaction may reach up to US$300 million.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7ade1733a461c9483048e104ccc2d044","relate_stocks":{"UXIN":"优信"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123979727","content_text":"4月1日，优信二手车盘中暴涨超40%，公司与两家知名的亚洲基金签订投资意向书。优信二手车宣布，公司已于4月1日与两家亚洲投资基金签订具约束力的投资意向书。据此，潜在投资者已同意与公司就认购高级可转换优先股进行磋商并可能签订最终协议，潜在交易的总投资额最高或将达3亿美元。","news_type":1,"symbols_score_info":{"UXIN":0.9}},"isVote":1,"tweetType":1,"viewCount":2404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}