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小白菜逆袭

小白菜逆袭

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小白菜逆袭

2021-07-24

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Behind the rumors of acquiring GlobalFoundries: Intel's chip manufacturing ambitions revealed

小白菜逆袭

2021-06-24

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Comment: The death cross in Bitcoin may just be a short trap

小白菜逆袭

2021-05-07

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小白菜逆袭

2021-07-20

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小白菜逆袭

2021-06-18

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小白菜逆袭

2021-08-30

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Earning nearly 700 million yuan a day! The three major oil companies delivered their best performance in seven years in the first half of 2021.

小白菜逆袭

2021-08-24

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Even after Ant Group's solemn declaration, its IPO remains a long way off.

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2021-08-24

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小白菜逆袭

2021-07-31

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@石头Stone:2021Q2財報 | 輝瑞財報分析疫苗收入即將超過主營！

小白菜逆袭

2021-07-20

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Is the US stock market crash a possibility of a first-round exit? The real show is yet to come.

Go to Tiger App to see more news

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18:48","market":"sh","language":"zh","title":"Earning nearly 700 million yuan a day! The three major oil companies delivered their best performance in seven years in the first half of 2021.","url":"https://stock-news.laohu8.com/highlight/detail?id=2163007700","media":"格隆汇","summary":"在需求增加和油价上行的拉动下，“三桶油”实现油气产量、价格双双增长。","content":"<p>Recently,<a href=\"https://laohu8.com/S/601857\">PetroChina</a>、<a href=\"https://laohu8.com/S/600028\">Sinopec</a>、<a href=\"https://laohu8.com/S/00883\">China National Offshore Oil</a>They have all released their first-half results. In the first half of 2021, the three major oil companies earned nearly 700 million yuan a day, the best level for the same period in seven years.</p><p><img src=\"https://static.tigerbbs.com/90074fcf5007d85e47620889c3f80903\" tg-width=\"900\" tg-height=\"500\" referrerpolicy=\"no-referrer\">On the morning of August 30, Sinopec held its 2021 interim results briefing.</p><p>The meeting showed that Sinopec achieved operating revenue of 1.26 trillion yuan in the first half of the year, a year-on-year increase of 22.12%; The net profit attributable to the parent company turned a loss of 22.882 billion yuan in the same period last year into a profit, reaching 39.153 billion yuan.</p><p>With this, the three major oil companies have completed their first-half performance reports.</p><p>Besides Sinopec, the other two companies of the \"three major oil companies\"—PetroChina and China National Offshore Oil Corporation (CNOOC)—also showed impressive financial reports.</p><p>In the first half of 2021, PetroChina achieved operating revenue of 1.20 trillion yuan, a year-on-year increase of 28.80%; Net profit attributable to the parent company turned a loss into a profit, reaching 53.036 billion yuan. China National Offshore Oil Corporation (CNOOC) achieved operating revenue of 17.027 billion yuan, a year-on-year increase of 47.68%; Net profit was 5.159 billion yuan, a year-on-year increase of 221.00%.</p><p>According to the Securities Times, the three major oil companies achieved a combined net profit of 125.518 billion yuan in the first half of 2021, earning approximately 693 million yuan per day, the best level for the same period in nearly seven years.<img src=\"https://static.tigerbbs.com/82005c210539543650c192bc45e3f958\" tg-width=\"686\" tg-height=\"514\" referrerpolicy=\"no-referrer\"></p><p>According to Sinopec's semi-annual report, a key reason for the first-half performance growth was the increase in oil and gas demand.<a href=\"https://laohu8.com/S/00001\">Changhe</a>International oil prices are rising.</p><p>In the first half of 2021, the global economy gradually recovered, China's economy continued to recover steadily, and its GDP increased by 12.7% year-on-year. Domestic oil and gas demand is growing rapidly, with apparent consumption of natural gas and refined oil products increasing by 17.5% and 5.7% year-on-year, respectively.</p><p>Meanwhile, international crude oil prices continued to fluctuate upwards, with the average spot price of Platts Brent crude oil at $65.23 per barrel, up 62.8% year-on-year.</p><p><img src=\"https://static.tigerbbs.com/3c9800e55d980d55c18dd8b5fb00af46\" tg-width=\"830\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>In the first half of the year, the price trend of domestic refined oil products was basically consistent with the changes in international oil prices. The government has adjusted domestic gasoline and diesel prices 10 times, with the price of standard gasoline increasing by 1,405 yuan/ton and the price of standard diesel by 1,355 yuan/ton.</p><p>Driven by increased demand and rising oil prices, the three major oil companies have achieved growth in both oil and gas production and prices.</p><p>Among them, Sinopec's total distribution volume of refined oil products reached 109 million tons, a year-on-year increase of 2%; Natural gas sales reached 14.8 billion cubic meters, a year-on-year increase of 11.4%, with an average selling price of 1,521 yuan per thousand cubic meters, a year-on-year increase of 11.1%.</p><p>PetroChina's sales of refined oil products reached 80.339 million tons, a year-on-year increase of 4.9%; Natural gas sales increased by 11.9% year-on-year, while prices increased by 22.6% year-on-year.</p><p>It is worth noting that all three major oil companies are increasing their investment to develop new energy businesses in response to the \"dual carbon policy\".</p><p><img src=\"https://static.tigerbbs.com/5704fc9aba53386628b581843ed21dd5\" tg-width=\"500\" tg-height=\"333\" referrerpolicy=\"no-referrer\"></p><p>At its earnings conference on August 30, Sinopec disclosed that it has proposed the goal of building China's number one hydrogen energy company. In the future, it will accelerate the development of the hydrogen energy industry as the company's core new energy business, promote the construction of hydrogen refueling stations and oil-hydrogen combined stations, and develop renewable energy hydrogen production. At a briefing, Sinopec President Ma Yongsheng answered a question from a reporter from the Shanghai Securities News, stating that the company has built a total of 20 hydrogen refueling stations, 10 are under construction, 30 are preparing to start construction, and 20 have been approved for construction. These stations are mainly concentrated in key regions such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Pearl River Delta, Shandong, Henan, Sichuan-Chongqing, and Central China.</p><p>In its semi-annual report, China National Petroleum Corporation (CNPC) also disclosed that it will optimize its oil and gas product structure, strengthen natural gas exploration and development, actively implement the national overall work plan for \"carbon peaking and carbon neutrality,\" organize the formulation of a \"dual carbon\" target action plan, continue to carry out the recovery of evacuated natural gas, accelerate the implementation of new energy projects, actively explore the construction of carbon storage bases, increase research on carbon dioxide recovery and transportation technologies, promote the pilot project of \"rooftop photovoltaics\" and plan the transformation of \"zero-carbon\" storage stations.</p><p>China National Offshore Oil Corporation (CNOOC) also announced the launch of a carbon neutrality plan, the establishment of a new energy department, the promotion of shore power projects, and the improvement of oil and gas field production At the interim results press conference on August 19, Chairman Wang Dongjin stated that during the 14th Five-Year Plan period, CNOOC plans to acquire no less than 5 million kilowatts of onshore photovoltaic and wind power resources, with business investment accounting for approximately 5%-10% of the company's total investment. At the same time, the company plans to increase the proportion of natural gas in total oil and gas production from the current 20% to 35%.</p><p>On August 30, the stock prices of the three major oil companies all rose. By the close of trading, Hong Kong stocks<a href=\"https://laohu8.com/S/00386\">China Petrochemical Corporation</a>The stock surged over 5%, with A-shares Sinopec and PetroChina rising 1.95% and 2.75% respectively, while Hong Kong-listed CNOOC rose 0.78%.</p>","source":"gelonghui_highlight","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>Earning nearly 700 million yuan a day! The three major oil companies delivered their best performance in seven years in the first half of 2021.</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\">\nEarning nearly 700 million yuan a day! The three major oil companies delivered their best performance in seven years in the first half of 2021.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">格隆汇</strong><span class=\"h-time small\">2021-08-30 18:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently,<a href=\"https://laohu8.com/S/601857\">PetroChina</a>、<a href=\"https://laohu8.com/S/600028\">Sinopec</a>、<a href=\"https://laohu8.com/S/00883\">China National Offshore Oil</a>They have all released their first-half results. In the first half of 2021, the three major oil companies earned nearly 700 million yuan a day, the best level for the same period in seven years.</p><p><img src=\"https://static.tigerbbs.com/90074fcf5007d85e47620889c3f80903\" tg-width=\"900\" tg-height=\"500\" referrerpolicy=\"no-referrer\">On the morning of August 30, Sinopec held its 2021 interim results briefing.</p><p>The meeting showed that Sinopec achieved operating revenue of 1.26 trillion yuan in the first half of the year, a year-on-year increase of 22.12%; The net profit attributable to the parent company turned a loss of 22.882 billion yuan in the same period last year into a profit, reaching 39.153 billion yuan.</p><p>With this, the three major oil companies have completed their first-half performance reports.</p><p>Besides Sinopec, the other two companies of the \"three major oil companies\"—PetroChina and China National Offshore Oil Corporation (CNOOC)—also showed impressive financial reports.</p><p>In the first half of 2021, PetroChina achieved operating revenue of 1.20 trillion yuan, a year-on-year increase of 28.80%; Net profit attributable to the parent company turned a loss into a profit, reaching 53.036 billion yuan. China National Offshore Oil Corporation (CNOOC) achieved operating revenue of 17.027 billion yuan, a year-on-year increase of 47.68%; Net profit was 5.159 billion yuan, a year-on-year increase of 221.00%.</p><p>According to the Securities Times, the three major oil companies achieved a combined net profit of 125.518 billion yuan in the first half of 2021, earning approximately 693 million yuan per day, the best level for the same period in nearly seven years.<img src=\"https://static.tigerbbs.com/82005c210539543650c192bc45e3f958\" tg-width=\"686\" tg-height=\"514\" referrerpolicy=\"no-referrer\"></p><p>According to Sinopec's semi-annual report, a key reason for the first-half performance growth was the increase in oil and gas demand.<a href=\"https://laohu8.com/S/00001\">Changhe</a>International oil prices are rising.</p><p>In the first half of 2021, the global economy gradually recovered, China's economy continued to recover steadily, and its GDP increased by 12.7% year-on-year. Domestic oil and gas demand is growing rapidly, with apparent consumption of natural gas and refined oil products increasing by 17.5% and 5.7% year-on-year, respectively.</p><p>Meanwhile, international crude oil prices continued to fluctuate upwards, with the average spot price of Platts Brent crude oil at $65.23 per barrel, up 62.8% year-on-year.</p><p><img src=\"https://static.tigerbbs.com/3c9800e55d980d55c18dd8b5fb00af46\" tg-width=\"830\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>In the first half of the year, the price trend of domestic refined oil products was basically consistent with the changes in international oil prices. The government has adjusted domestic gasoline and diesel prices 10 times, with the price of standard gasoline increasing by 1,405 yuan/ton and the price of standard diesel by 1,355 yuan/ton.</p><p>Driven by increased demand and rising oil prices, the three major oil companies have achieved growth in both oil and gas production and prices.</p><p>Among them, Sinopec's total distribution volume of refined oil products reached 109 million tons, a year-on-year increase of 2%; Natural gas sales reached 14.8 billion cubic meters, a year-on-year increase of 11.4%, with an average selling price of 1,521 yuan per thousand cubic meters, a year-on-year increase of 11.1%.</p><p>PetroChina's sales of refined oil products reached 80.339 million tons, a year-on-year increase of 4.9%; Natural gas sales increased by 11.9% year-on-year, while prices increased by 22.6% year-on-year.</p><p>It is worth noting that all three major oil companies are increasing their investment to develop new energy businesses in response to the \"dual carbon policy\".</p><p><img src=\"https://static.tigerbbs.com/5704fc9aba53386628b581843ed21dd5\" tg-width=\"500\" tg-height=\"333\" referrerpolicy=\"no-referrer\"></p><p>At its earnings conference on August 30, Sinopec disclosed that it has proposed the goal of building China's number one hydrogen energy company. In the future, it will accelerate the development of the hydrogen energy industry as the company's core new energy business, promote the construction of hydrogen refueling stations and oil-hydrogen combined stations, and develop renewable energy hydrogen production. At a briefing, Sinopec President Ma Yongsheng answered a question from a reporter from the Shanghai Securities News, stating that the company has built a total of 20 hydrogen refueling stations, 10 are under construction, 30 are preparing to start construction, and 20 have been approved for construction. These stations are mainly concentrated in key regions such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Pearl River Delta, Shandong, Henan, Sichuan-Chongqing, and Central China.</p><p>In its semi-annual report, China National Petroleum Corporation (CNPC) also disclosed that it will optimize its oil and gas product structure, strengthen natural gas exploration and development, actively implement the national overall work plan for \"carbon peaking and carbon neutrality,\" organize the formulation of a \"dual carbon\" target action plan, continue to carry out the recovery of evacuated natural gas, accelerate the implementation of new energy projects, actively explore the construction of carbon storage bases, increase research on carbon dioxide recovery and transportation technologies, promote the pilot project of \"rooftop photovoltaics\" and plan the transformation of \"zero-carbon\" storage stations.</p><p>China National Offshore Oil Corporation (CNOOC) also announced the launch of a carbon neutrality plan, the establishment of a new energy department, the promotion of shore power projects, and the improvement of oil and gas field production At the interim results press conference on August 19, Chairman Wang Dongjin stated that during the 14th Five-Year Plan period, CNOOC plans to acquire no less than 5 million kilowatts of onshore photovoltaic and wind power resources, with business investment accounting for approximately 5%-10% of the company's total investment. At the same time, the company plans to increase the proportion of natural gas in total oil and gas production from the current 20% to 35%.</p><p>On August 30, the stock prices of the three major oil companies all rose. By the close of trading, Hong Kong stocks<a href=\"https://laohu8.com/S/00386\">China Petrochemical Corporation</a>The stock surged over 5%, with A-shares Sinopec and PetroChina rising 1.95% and 2.75% respectively, while Hong Kong-listed CNOOC rose 0.78%.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.gelonghui.com/p/483735\">格隆汇</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/154f468d2e230d7341262184a2d804cd","relate_stocks":{"DGAZ":"三倍做空天然气ETN(VelocityShares)","UGAZ":"三倍做多天然气ETN(VelocityShares)","UNG":"美国天然气基金"},"source_url":"http://www.gelonghui.com/p/483735","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2163007700","content_text":"近日，中国石油、中国石化、中国海洋石油等纷纷披露上半年业绩，2021年上半年，“三桶油”加起来日赚近7亿，创下七年同期最好水平。\n8月30日上午，中国石化举行2021年中期业绩说明会。\n会议显示，中国石化上半年实现营业收入1.26万亿元，同比增长22.12%；而归母净利润则从去年同期亏损的228.82亿元扭亏为盈，达到391.53亿元。\n至此，“三桶油”上半年业绩“答卷”已全部交出。\n除了中国石化外，“三桶油”的另两家企业——中国石油和中国海洋石油同样也展示出了亮眼的财报。\n2021年上半年，中国石油实现营业收入1.20万亿元，同比增长28.80%；归母净利润扭亏为盈，达到530.36亿元。中国海洋石油则实现营业收入170.27亿元，同比增长47.68%；净利润51.59亿元，同比增长221.00%。\n据证券时报报道，“三桶油”2021年上半年合计实现净利润1255.18亿元，日赚约6.93亿元，创下近七年以来同期最好水平。\n据中国石化半年报披露，上半年业绩增长的重要原因在于油气需求增长和国际油价上行。\n2021年上半年，全球经济逐步复苏，中国经济持续稳定恢复，国内生产总值同比增长12.7%。境内油气需求快速增长，其中天然气和成品油的表观消费量同比增长17.5%和5.7%。\n同时，国际原油价格持续震荡上行，普氏布伦特原油现货均价为65.23美元/桶，同比上涨62.8%。\n\n上半年国内成品油的价格走势与国际市场油价变化基本趋于一致。国家10次调整国内汽油、柴油价格，汽油标准品价格累计上调 1405 元/吨，柴油标准品价格累计上调 1355 元/吨。\n在需求增加和油价上行的拉动下，“三桶油”实现油气产量、价格双双增长。\n其中，中国石化成品油总经销量达1.09亿吨，同比增长2%；销售天然气 148 亿立方米，同比 11.4%，销售均价1521元/千立方米，同比增长11.1%。\n中国石油成品油销量达8033.9万吨，同比增长4.9%；天然气销量同比增长11.9%，价格同比增长22.6%。\n值得注意的是，“三桶油”均在投资加码，为响应“双碳政策”布局新能源业务。\n\n中国石化在8月30日的业绩说明会上披露，公司已提出建设中国第一氢能公司的目标，未来将把氢能产业作为公司新能源的核心业务加快发展，推进加氢站建设及油氢合建站建设，发展可再生能源制氢。中国石化总裁马永生在说明会上答上海证券报记者问称，公司已累计建成加氢站20座，在建10座，准备开工30座，审批报建20座，主要集中在京津冀、长三角、珠三角、山东、河南、川渝、华中等重点地区。\n中国石油也在半年报中披露，将优化油气产品结构，加强天然气勘探开发，积极落实国家“碳达峰、碳中和”整体工作安排，组织编制“双碳”目标行动计划，持续开展放空天然气回收，加快新能源项目的实施落地，积极探索碳封存基地建设，加大对二氧化碳回收利用和运输技术研究，推进“屋顶光伏” 试点、规划“零碳”库站转型。\n而中国海洋石油同样宣布启动碳中和规划，成立新能源部，推进岸电工程，提高油气田生产水平。董事长汪东进在8月19日中期业绩发布会上表示，“十四五”期间，中国海油计划获取陆上光伏和风电资源不低于500万千瓦，业务投资占比约为公司总投资的5%-10%。同时，公司计划将天然气占油气总产量的比例从目前的20%提升至35%。\n8月30日，“三桶油”股价纷纷上涨。截至收盘，港股中国石油化工股份大涨超5%，A股中国石化和中国石油分别上涨1.95%和2.75%，港股中国海洋石油上涨0.78%。","news_type":1,"symbols_score_info":{"NGmain":0.9,"QGmain":0.9,"UGAZ":0.9,"UNG":0.9,"DGAZ":0.9}},"isVote":1,"tweetType":1,"viewCount":3350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834210537,"gmtCreate":1629805691429,"gmtModify":1676530136540,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"66666","listText":"66666","text":"66666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834210537","repostId":"1157355451","repostType":4,"repost":{"id":"1157355451","kind":"news","pubTimestamp":1629799640,"share":"https://ttm.financial/m/news/1157355451?lang=en_US&edition=fundamental","pubTime":"2021-08-24 18:07","market":"us","language":"zh","title":"Even after Ant Group's solemn declaration, its IPO remains a long way off.","url":"https://stock-news.laohu8.com/highlight/detail?id=1157355451","media":"BT财经","summary":"蚂蚁集团估值一度碾压五大银行，如上市将成为全球最大的IPO，但却在2020年底被暂停上市，最近更曝出有落马官员入股的传言。\n\n8月21日，中央纪委国家监委网站公布了对杭州市委书记、浙江省省委常委周江勇","content":"<p>Ant Group's valuation once surpassed that of the five major banks, and if it went public, it would have become the world's largest IPO. However, its listing was suspended at the end of 2020, and recently there have been rumors that a fallen official had invested in the company.<b>On August 21, the website of the Central Commission for Discipline Inspection and the National Supervisory Commission published an investigation notice against Zhou Jiangyong, Secretary of the Hangzhou Municipal Party Committee and member of the Standing Committee of the Zhejiang Provincial</b>At the same time, it was also announced that the relationship between government and business in Hangzhou would be cleaned up and rectified.</p><p>There were rumors that Zhou participated in a \"surprise\" investment in a company before its IPO. Ant Group urgently denied the rumors after the incident, prompting some netizens to jokingly say, \"If you don't deny the rumors, you won't guess who it is.\"</p><p><img src=\"https://static.tigerbbs.com/9d98e7768f8401f1a59411d6dcb21cbc\" tg-width=\"566\" tg-height=\"415\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As can be seen from Ant Group's solemn statement, the main content of Ant Group's refutation was that there were rumors that Ant Group had violated regulations by having relevant personnel rush to invest in shares during the previous IPO process, and that Ant Group would take legal measures to protect its legitimate rights and interests, claiming that it would pursue the criminal liability of those who spread the rumors.</p><p>It's important to note that prior to Ant Group's denial, the public knew very little about the so-called rumors.<b>Ant Group's solemn statement only intensified the situation, even raising questions about whether there was any silver in this place.</b>。</p><p><img src=\"https://static.tigerbbs.com/71d8e8e35e0d5bfbf7c8b5712494bbd0\" tg-width=\"640\" tg-height=\"1172\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Climbing high, falling badly</b></p><p>Ant Group was once valued at HK$3.6 trillion, equivalent to RMB3 trillion. If it successfully lists, it will break the record for the world's largest IPO and surpass Kweichow Moutai to become the king of A-shares. During the same period, the market capitalization of the Industrial and Commercial Bank of China was only about half that of Ant Group, at only 1.6 trillion yuan, while the market capitalization of the Agricultural Bank of China was about one-third. Ant Group became the focus of heated discussions, and the topic of concern was why Ant Group could have a higher market capitalization than the five major banks.</p><p>Ant Group's business can be roughly divided into the following sections. The first section is the payment function that is well-known and has been used for a long time, now called digital payment and merchant services. This is Alibaba Group's earliest digital payment service, with Alipay accounting for 36% of Ant Group's total revenue, reaching 26 billion yuan.</p><p>Ant Group's main business is its second segment, digital fintech services, which involve selling technical service fees. Its main customers are not individuals, but financial institutions such as banks, securities companies, fund companies, trust companies, and insurance companies. This segment once accounted for the majority of Ant Group's total revenue, reaching as high as 60% in the first half of 2020, or about 46 billion yuan.</p><p>The third business segment is innovation and other businesses. Innovations include high-end technologies such as blockchain and databases, as well as big data technologies used by banks to verify the loan creditworthiness of micro and small enterprises. There are also projects like Ant Forest.</p><p>What makes Ant Group potentially surpass Kweichow Moutai to become the king of A-shares and the largest IPO in history is its intellectual property rights. Ant Group's strong intellectual property rights include 26 independently developed core technology products and 18 world-class and national-level core technology awards. These are the key to Ant Group's recognition. As for its patents and trademarks, they number as high as 26,279 and 8,569 respectively, covering 40 countries and regions around the world. It also owns 369 non-design and trade secrets, 3,927 domain names, and 677 copyrights. These intellectual property rights belong to top technology companies both domestically and globally.</p><p>Many investors have high expectations for Ant Group's IPO, especially Ant Group employees who dream of the day they get rich overnight. However, an announcement from the Shanghai Stock Exchange on November 3, 2020, shattered these people's dreams. The announcement stated that \"the actual controller, chairman, and general manager of Ant Group were jointly held for regulatory talks by relevant departments, and Ant Group reported major events such as changes in the financial technology regulatory environment in which it operates. This major event may cause Ant Group to fail to meet the IPO conditions or information disclosure requirements. Therefore, it has been decided to postpone Ant Group's listing.\"</p><p><img src=\"https://static.tigerbbs.com/70fa1ef3428e8433000d1e9a6d3776cf\" tg-width=\"518\" tg-height=\"590\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>This is the official response. In fact, even before the official response, there were claims that Ant Group could not go public at all. The root of this matter may lie in the \"attack on banks\" by Jack Ma. On October 24, 2020, at the second Bund Financial Summit in Shanghai, Jack Ma delivered a passionate 21-minute speech. Some analysts say that it may have been this speech that caused Ant Group to postpone its IPO, and it may have been postponed indefinitely, because in the speech, Jack Ma openly questioned banks and regulatory agencies around the world and \"attacked\" banks.</p><p>Regardless, the suspension of listing will have a huge impact on Ant Group. Analysts point out that Ant Group may become the \"most expensive company\" that falls the most the higher it climbs.</p><p><b>A \"loan shark\" company?</b></p><p>Ant Group's IPO prospectus shows that Alipay's monthly active users increased from 499 million in 2017 to 711 million in 2020, with over 1 billion annual active users and 80 million monthly active merchants. Such a large payment user base gives Ant Group ample confidence.</p><p>However, among the digital fintech platforms that Ant Group relies on most, it is subdivided into micro-loan technology, wealth management technology, and insurance technology. They all look quite high-end, like tech companies, and their suffixes all contain the word \"technology,\" but in reality, Ant Group...<b>The core businesses are microloans, wealth management product sales, and insurance sales.</b></p><p><img src=\"https://static.tigerbbs.com/54ca908d4c5c6d63f252f732aa1c287e\" tg-width=\"650\" tg-height=\"434\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Among microloans, wealth management products, and insurance, microloans had the largest revenue, with revenue of 28.6 billion yuan in the first half of 2020, accounting for 62% of the total revenue of digital finance technology platforms. The COVID-19 pandemic severely damaged the domestic economy, and many people had to rely on borrowing to make a living after losing their jobs. Ant Group's Huabei became a favorite among young people, which led to Ant Group's growth rate of 38% in the first half of 2020. In the context of a sluggish real economy, Ant Group became a new favorite of many investors.</p><p>Financial professional Shi Baogang believes that \"Ant Financial's operating model involves debt and asset securitization, such as packaging securities into wealth management products and issuing loans in a cyclical manner, creating a 100-fold leverage. This high leverage means high risk. What's even more remarkable is that Ant Group can achieve 'getting something for nothing' with zero cost when operating loans, thereby achieving high profits. Through the back-and-forth operation of bonds and asset securitization, cross-purchases, there is almost no inherent risk, because the risk has been transferred to the investors who purchase the relevant wealth management products at each level.\"</p><p>Shi Baogang pointed out: \"To put it bluntly, Ant Group is a 'loan shark' company. Even though they use various technological names and own a large number of intellectual property rights, the nature of keeping high profits for themselves and throwing high risks to society determines their nature.\"</p><p>According to the prospectus, when Sesame Credit is excellent enough, the daily interest rate for Jiebei users is around 0.04%, which is equivalent to an annualized interest rate of 14.6%. However, if Sesame Credit is not excellent enough, the annualized interest rate is very likely to be above 18%. This annual interest rate signals that Ant Group is teetering on the edge of the boundaries defined by loan sharks, because according to relevant laws, any amount exceeding four times the loan market prime rate is not protected by law. During the same period, the loan market prime rate was 3.85%, and the upper limit of 4 times should be 15.4%. Some people specifically tried using Jiebei's loan interest rate and found that the final interest rate was 18.2%. You can judge for yourself whether it is a loan shark.</p><p><img src=\"https://static.tigerbbs.com/c6346ce560fe998e0520bc0da62c7b64\" tg-width=\"409\" tg-height=\"515\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In addition,<b>Ant Group also acts as an intermediary, cooperating with banks to provide loans. The main customers of these loans are micro and small business owners. The daily interest rate is about 0.03% and the annualized rate is 10.95%. Ant Group does not need to invest a single penny to take a cut of the interest from the banks.</b></p><p>This capital-free operation has resulted in high profits and high growth. The micro-loan business has consistently accounted for nearly 40% of Ant Group's total revenue, and the proportion is constantly increasing.</p><p><b>Ant Forest's \"pseudo-public welfare\"</b></p><p>When Ant Group launched Ant Forest, many people's first impressions were positive. However, it was later realized that while things were good, Ant Forest's original intention might not actually be to do public welfare. Its positioning as a commercial project has begun to be questioned by the outside world.</p><p>Let's briefly analyze the operating model of Ant Forest. The initial model of \"Ant Forest\" was roughly to collect energy, steal the energy of friends, and attract the participation of a large number of people on social media. After a certain amount of energy was accumulated, people could choose to plant trees in Northwest China or other areas with harsh environments. At this point, \"Ant Forest\" will provide a number that corresponds to the tree and uses real-name registration. This move has drawn a positive response from many people.</p><p><img src=\"https://static.tigerbbs.com/0e8b83fbf1391f84647e3cd7a3417607\" tg-width=\"594\" tg-height=\"443\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In today's increasingly environmentally conscious world, these people believe that planting a tree named after themselves is equivalent to contributing to environmental protection. As environmental protection concepts take root in people's hearts, Ant Forest is gaining more popularity.</p><p><img src=\"https://static.tigerbbs.com/7b8fe4e78cdc275472a4a14ba2ce71c6\" tg-width=\"624\" tg-height=\"394\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Many people support Ant Forest because of the public welfare and environmental protection promoted by Ant Group. Ant Group has taken advantage of these people's simple mindset to inject more traffic into Ant Group.</p><p>However, most of the philanthropists involved in Ant Forest are unaware that the market targeted by Ant Forest is called the carbon trading market. This term is extremely unfamiliar to the general public, but it represents a huge market that could reach trillions in the future. Many prominent figures abroad have already set their sights on this huge market, with former and current world's richest men Bill Gates and Elon Musk having long been involved in this field. Take Elon Musk as an example. He has already earned $2 billion through the carbon trading market. What's frightening is that this is just the initial revenue, and the figure will continue to skyrocket in the future.</p><p>Currently, Ant Forest is not large in scale. From August 2016 to now, it has achieved an ecosystem output value of over 10 billion yuan through the carbon trading market. As Ant Forest continues to expand in the future, it may become another unicorn company under Alibaba, with a market value not much less than that of Ant Financial.</p><p>What gives Ant Forest its broad prospects is the Kyoto Protocol. This agreement aims to control the Earth's greenhouse effect by keeping the content of greenhouse gases in the atmosphere within a reasonable range, which requires countries around the world to reduce emissions as much as possible.</p><p>The key point is controlling carbon dioxide emissions, which creates a carbon trading market. In other words, companies without carbon emission standards cannot produce. Some companies manufacture a large number of quotas that they simply cannot use up. If they don't have enough, they buy the quotas from the companies that can't use them up. For example, Lenovo's annual emission standard of 500 tons is simply not enough. If they want to produce after using up 500 tons, they may have to buy from Ant Forest. There are many similar cases abroad, and Tesla has made a lot of money from this.</p><p><img src=\"https://static.tigerbbs.com/c9f132fb9c39d3721f2b91524905bfce\" tg-width=\"617\" tg-height=\"374\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The brilliance of \"Ant Forest\" lies in its purpose of making a profit under the guise of public welfare. By planting trees and allowing them to absorb carbon dioxide and release oxygen through photosynthesis, emissions can be reduced and emission targets can be created. Ant Forest can then sell its emission credits to companies that need them. As the forest grows larger, more and more trees are planted, and more and more indicators are set. With the help of the hen of the philanthropist, there is a continuous stream of eggs. Ant Forest is very clever in \"using the chicken to lay eggs\".</p><p>Interestingly, the carbon emission market is currently almost clearly priced, with each ton of carbon emissions at around 18 yuan. From 2016 to the end of 2020, Ant Forest reduced emissions by 12 million tons in four years. The number is not large, but their growth rate is almost exponential, which has made Ant Forest full of prospects. It is like a piggy bank, with money pouring in every moment, while the costs it incurs are negligible.</p><p><b>Listing is a long way off</b></p><p>After Ant Group was suspended from listing, many financial professionals, besides feeling some regret for Ant Group, quickly forgot about it, while investors who have been following Ant Group may not see any hope for the time being.</p><p>“Ant Group’s suspension from listing is mainly due to their business model. If such a blatant credit company becomes the largest IPO in China, it will contradict the country’s original intention of focusing on governing credit companies recently. At this stage, it will be difficult for Ant Group to go public within several years.” Liu Bo, who has been engaged in investment for many years, is pessimistic about Ant Group’s listing.</p><p>At a time of turmoil for Ant Group, the downfall of Zhou Jiangyong, the secretary of the Hangzhou Municipal Party Committee, especially the titles of relevant personnel in Ant Group's solemn statement, has given rise to much speculation.</p><p>According to Caixin, from August 21 to 22, the Zhou Jiangyong family is suspected of making a surprise investment in a local company before its IPO. The company that went public was not named. This is in conjunction with Zhou Jiangyong's vigorous promotion of the digital economy during his tenure in Hangzhou and his proposal to make Hangzhou the number one digital economy city in the country. Over the past few years, he has had extensive work experience with leading local digital economy companies. As a result, the public naturally thinks of Ant Group. Ant Group's solemn statement directly replaced the rumored \"local company\" with Ant Group. As for the truth of the incident, it is still inconclusive, and everything will be subject to the announcement after the authoritative departments verify it.</p><p>However, that solemn statement had the opposite effect. The embarrassment of being \"slapped in the face\" as soon as the rumor was refuted last year was not far away. At that time, some media reported that the Central Joint Investigation Team had entered Alibaba, and Alibaba immediately issued the same solemn statement to pursue the criminal responsibility of those who spread the rumor.</p><p><img src=\"https://static.tigerbbs.com/cc7940c29aa8369510fad1a1e83dff75\" tg-width=\"641\" tg-height=\"747\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>However, it was confirmed a few days later that the investigation team's entry into Alibaba was true, and that the on-site investigation and evidence collection had been completed.</p><p><img src=\"https://static.tigerbbs.com/9e7effab9a822b5f3522eceaf058b64b\" tg-width=\"647\" tg-height=\"288\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Even if it is ultimately confirmed to be just a rumor, Ant Group's IPO will be even more distant after this \"rumor\".</p>","source":"lsy1588993976395","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Even after Ant Group's solemn declaration, its IPO remains a long way 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\">\nEven after Ant Group's solemn declaration, its IPO remains a long way off.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">BT财经</strong><span class=\"h-time small\">2021-08-24 18:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Ant Group's valuation once surpassed that of the five major banks, and if it went public, it would have become the world's largest IPO. However, its listing was suspended at the end of 2020, and recently there have been rumors that a fallen official had invested in the company.<b>On August 21, the website of the Central Commission for Discipline Inspection and the National Supervisory Commission published an investigation notice against Zhou Jiangyong, Secretary of the Hangzhou Municipal Party Committee and member of the Standing Committee of the Zhejiang Provincial</b>At the same time, it was also announced that the relationship between government and business in Hangzhou would be cleaned up and rectified.</p><p>There were rumors that Zhou participated in a \"surprise\" investment in a company before its IPO. Ant Group urgently denied the rumors after the incident, prompting some netizens to jokingly say, \"If you don't deny the rumors, you won't guess who it is.\"</p><p><img src=\"https://static.tigerbbs.com/9d98e7768f8401f1a59411d6dcb21cbc\" tg-width=\"566\" tg-height=\"415\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As can be seen from Ant Group's solemn statement, the main content of Ant Group's refutation was that there were rumors that Ant Group had violated regulations by having relevant personnel rush to invest in shares during the previous IPO process, and that Ant Group would take legal measures to protect its legitimate rights and interests, claiming that it would pursue the criminal liability of those who spread the rumors.</p><p>It's important to note that prior to Ant Group's denial, the public knew very little about the so-called rumors.<b>Ant Group's solemn statement only intensified the situation, even raising questions about whether there was any silver in this place.</b>。</p><p><img src=\"https://static.tigerbbs.com/71d8e8e35e0d5bfbf7c8b5712494bbd0\" tg-width=\"640\" tg-height=\"1172\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Climbing high, falling badly</b></p><p>Ant Group was once valued at HK$3.6 trillion, equivalent to RMB3 trillion. If it successfully lists, it will break the record for the world's largest IPO and surpass Kweichow Moutai to become the king of A-shares. During the same period, the market capitalization of the Industrial and Commercial Bank of China was only about half that of Ant Group, at only 1.6 trillion yuan, while the market capitalization of the Agricultural Bank of China was about one-third. Ant Group became the focus of heated discussions, and the topic of concern was why Ant Group could have a higher market capitalization than the five major banks.</p><p>Ant Group's business can be roughly divided into the following sections. The first section is the payment function that is well-known and has been used for a long time, now called digital payment and merchant services. This is Alibaba Group's earliest digital payment service, with Alipay accounting for 36% of Ant Group's total revenue, reaching 26 billion yuan.</p><p>Ant Group's main business is its second segment, digital fintech services, which involve selling technical service fees. Its main customers are not individuals, but financial institutions such as banks, securities companies, fund companies, trust companies, and insurance companies. This segment once accounted for the majority of Ant Group's total revenue, reaching as high as 60% in the first half of 2020, or about 46 billion yuan.</p><p>The third business segment is innovation and other businesses. Innovations include high-end technologies such as blockchain and databases, as well as big data technologies used by banks to verify the loan creditworthiness of micro and small enterprises. There are also projects like Ant Forest.</p><p>What makes Ant Group potentially surpass Kweichow Moutai to become the king of A-shares and the largest IPO in history is its intellectual property rights. Ant Group's strong intellectual property rights include 26 independently developed core technology products and 18 world-class and national-level core technology awards. These are the key to Ant Group's recognition. As for its patents and trademarks, they number as high as 26,279 and 8,569 respectively, covering 40 countries and regions around the world. It also owns 369 non-design and trade secrets, 3,927 domain names, and 677 copyrights. These intellectual property rights belong to top technology companies both domestically and globally.</p><p>Many investors have high expectations for Ant Group's IPO, especially Ant Group employees who dream of the day they get rich overnight. However, an announcement from the Shanghai Stock Exchange on November 3, 2020, shattered these people's dreams. The announcement stated that \"the actual controller, chairman, and general manager of Ant Group were jointly held for regulatory talks by relevant departments, and Ant Group reported major events such as changes in the financial technology regulatory environment in which it operates. This major event may cause Ant Group to fail to meet the IPO conditions or information disclosure requirements. Therefore, it has been decided to postpone Ant Group's listing.\"</p><p><img src=\"https://static.tigerbbs.com/70fa1ef3428e8433000d1e9a6d3776cf\" tg-width=\"518\" tg-height=\"590\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>This is the official response. In fact, even before the official response, there were claims that Ant Group could not go public at all. The root of this matter may lie in the \"attack on banks\" by Jack Ma. On October 24, 2020, at the second Bund Financial Summit in Shanghai, Jack Ma delivered a passionate 21-minute speech. Some analysts say that it may have been this speech that caused Ant Group to postpone its IPO, and it may have been postponed indefinitely, because in the speech, Jack Ma openly questioned banks and regulatory agencies around the world and \"attacked\" banks.</p><p>Regardless, the suspension of listing will have a huge impact on Ant Group. Analysts point out that Ant Group may become the \"most expensive company\" that falls the most the higher it climbs.</p><p><b>A \"loan shark\" company?</b></p><p>Ant Group's IPO prospectus shows that Alipay's monthly active users increased from 499 million in 2017 to 711 million in 2020, with over 1 billion annual active users and 80 million monthly active merchants. Such a large payment user base gives Ant Group ample confidence.</p><p>However, among the digital fintech platforms that Ant Group relies on most, it is subdivided into micro-loan technology, wealth management technology, and insurance technology. They all look quite high-end, like tech companies, and their suffixes all contain the word \"technology,\" but in reality, Ant Group...<b>The core businesses are microloans, wealth management product sales, and insurance sales.</b></p><p><img src=\"https://static.tigerbbs.com/54ca908d4c5c6d63f252f732aa1c287e\" tg-width=\"650\" tg-height=\"434\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Among microloans, wealth management products, and insurance, microloans had the largest revenue, with revenue of 28.6 billion yuan in the first half of 2020, accounting for 62% of the total revenue of digital finance technology platforms. The COVID-19 pandemic severely damaged the domestic economy, and many people had to rely on borrowing to make a living after losing their jobs. Ant Group's Huabei became a favorite among young people, which led to Ant Group's growth rate of 38% in the first half of 2020. In the context of a sluggish real economy, Ant Group became a new favorite of many investors.</p><p>Financial professional Shi Baogang believes that \"Ant Financial's operating model involves debt and asset securitization, such as packaging securities into wealth management products and issuing loans in a cyclical manner, creating a 100-fold leverage. This high leverage means high risk. What's even more remarkable is that Ant Group can achieve 'getting something for nothing' with zero cost when operating loans, thereby achieving high profits. Through the back-and-forth operation of bonds and asset securitization, cross-purchases, there is almost no inherent risk, because the risk has been transferred to the investors who purchase the relevant wealth management products at each level.\"</p><p>Shi Baogang pointed out: \"To put it bluntly, Ant Group is a 'loan shark' company. Even though they use various technological names and own a large number of intellectual property rights, the nature of keeping high profits for themselves and throwing high risks to society determines their nature.\"</p><p>According to the prospectus, when Sesame Credit is excellent enough, the daily interest rate for Jiebei users is around 0.04%, which is equivalent to an annualized interest rate of 14.6%. However, if Sesame Credit is not excellent enough, the annualized interest rate is very likely to be above 18%. This annual interest rate signals that Ant Group is teetering on the edge of the boundaries defined by loan sharks, because according to relevant laws, any amount exceeding four times the loan market prime rate is not protected by law. During the same period, the loan market prime rate was 3.85%, and the upper limit of 4 times should be 15.4%. Some people specifically tried using Jiebei's loan interest rate and found that the final interest rate was 18.2%. You can judge for yourself whether it is a loan shark.</p><p><img src=\"https://static.tigerbbs.com/c6346ce560fe998e0520bc0da62c7b64\" tg-width=\"409\" tg-height=\"515\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In addition,<b>Ant Group also acts as an intermediary, cooperating with banks to provide loans. The main customers of these loans are micro and small business owners. The daily interest rate is about 0.03% and the annualized rate is 10.95%. Ant Group does not need to invest a single penny to take a cut of the interest from the banks.</b></p><p>This capital-free operation has resulted in high profits and high growth. The micro-loan business has consistently accounted for nearly 40% of Ant Group's total revenue, and the proportion is constantly increasing.</p><p><b>Ant Forest's \"pseudo-public welfare\"</b></p><p>When Ant Group launched Ant Forest, many people's first impressions were positive. However, it was later realized that while things were good, Ant Forest's original intention might not actually be to do public welfare. Its positioning as a commercial project has begun to be questioned by the outside world.</p><p>Let's briefly analyze the operating model of Ant Forest. The initial model of \"Ant Forest\" was roughly to collect energy, steal the energy of friends, and attract the participation of a large number of people on social media. After a certain amount of energy was accumulated, people could choose to plant trees in Northwest China or other areas with harsh environments. At this point, \"Ant Forest\" will provide a number that corresponds to the tree and uses real-name registration. This move has drawn a positive response from many people.</p><p><img src=\"https://static.tigerbbs.com/0e8b83fbf1391f84647e3cd7a3417607\" tg-width=\"594\" tg-height=\"443\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In today's increasingly environmentally conscious world, these people believe that planting a tree named after themselves is equivalent to contributing to environmental protection. As environmental protection concepts take root in people's hearts, Ant Forest is gaining more popularity.</p><p><img src=\"https://static.tigerbbs.com/7b8fe4e78cdc275472a4a14ba2ce71c6\" tg-width=\"624\" tg-height=\"394\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Many people support Ant Forest because of the public welfare and environmental protection promoted by Ant Group. Ant Group has taken advantage of these people's simple mindset to inject more traffic into Ant Group.</p><p>However, most of the philanthropists involved in Ant Forest are unaware that the market targeted by Ant Forest is called the carbon trading market. This term is extremely unfamiliar to the general public, but it represents a huge market that could reach trillions in the future. Many prominent figures abroad have already set their sights on this huge market, with former and current world's richest men Bill Gates and Elon Musk having long been involved in this field. Take Elon Musk as an example. He has already earned $2 billion through the carbon trading market. What's frightening is that this is just the initial revenue, and the figure will continue to skyrocket in the future.</p><p>Currently, Ant Forest is not large in scale. From August 2016 to now, it has achieved an ecosystem output value of over 10 billion yuan through the carbon trading market. As Ant Forest continues to expand in the future, it may become another unicorn company under Alibaba, with a market value not much less than that of Ant Financial.</p><p>What gives Ant Forest its broad prospects is the Kyoto Protocol. This agreement aims to control the Earth's greenhouse effect by keeping the content of greenhouse gases in the atmosphere within a reasonable range, which requires countries around the world to reduce emissions as much as possible.</p><p>The key point is controlling carbon dioxide emissions, which creates a carbon trading market. In other words, companies without carbon emission standards cannot produce. Some companies manufacture a large number of quotas that they simply cannot use up. If they don't have enough, they buy the quotas from the companies that can't use them up. For example, Lenovo's annual emission standard of 500 tons is simply not enough. If they want to produce after using up 500 tons, they may have to buy from Ant Forest. There are many similar cases abroad, and Tesla has made a lot of money from this.</p><p><img src=\"https://static.tigerbbs.com/c9f132fb9c39d3721f2b91524905bfce\" tg-width=\"617\" tg-height=\"374\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The brilliance of \"Ant Forest\" lies in its purpose of making a profit under the guise of public welfare. By planting trees and allowing them to absorb carbon dioxide and release oxygen through photosynthesis, emissions can be reduced and emission targets can be created. Ant Forest can then sell its emission credits to companies that need them. As the forest grows larger, more and more trees are planted, and more and more indicators are set. With the help of the hen of the philanthropist, there is a continuous stream of eggs. Ant Forest is very clever in \"using the chicken to lay eggs\".</p><p>Interestingly, the carbon emission market is currently almost clearly priced, with each ton of carbon emissions at around 18 yuan. From 2016 to the end of 2020, Ant Forest reduced emissions by 12 million tons in four years. The number is not large, but their growth rate is almost exponential, which has made Ant Forest full of prospects. It is like a piggy bank, with money pouring in every moment, while the costs it incurs are negligible.</p><p><b>Listing is a long way off</b></p><p>After Ant Group was suspended from listing, many financial professionals, besides feeling some regret for Ant Group, quickly forgot about it, while investors who have been following Ant Group may not see any hope for the time being.</p><p>“Ant Group’s suspension from listing is mainly due to their business model. If such a blatant credit company becomes the largest IPO in China, it will contradict the country’s original intention of focusing on governing credit companies recently. At this stage, it will be difficult for Ant Group to go public within several years.” Liu Bo, who has been engaged in investment for many years, is pessimistic about Ant Group’s listing.</p><p>At a time of turmoil for Ant Group, the downfall of Zhou Jiangyong, the secretary of the Hangzhou Municipal Party Committee, especially the titles of relevant personnel in Ant Group's solemn statement, has given rise to much speculation.</p><p>According to Caixin, from August 21 to 22, the Zhou Jiangyong family is suspected of making a surprise investment in a local company before its IPO. The company that went public was not named. This is in conjunction with Zhou Jiangyong's vigorous promotion of the digital economy during his tenure in Hangzhou and his proposal to make Hangzhou the number one digital economy city in the country. Over the past few years, he has had extensive work experience with leading local digital economy companies. As a result, the public naturally thinks of Ant Group. Ant Group's solemn statement directly replaced the rumored \"local company\" with Ant Group. As for the truth of the incident, it is still inconclusive, and everything will be subject to the announcement after the authoritative departments verify it.</p><p>However, that solemn statement had the opposite effect. The embarrassment of being \"slapped in the face\" as soon as the rumor was refuted last year was not far away. At that time, some media reported that the Central Joint Investigation Team had entered Alibaba, and Alibaba immediately issued the same solemn statement to pursue the criminal responsibility of those who spread the rumor.</p><p><img src=\"https://static.tigerbbs.com/cc7940c29aa8369510fad1a1e83dff75\" tg-width=\"641\" tg-height=\"747\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>However, it was confirmed a few days later that the investigation team's entry into Alibaba was true, and that the on-site investigation and evidence collection had been completed.</p><p><img src=\"https://static.tigerbbs.com/9e7effab9a822b5f3522eceaf058b64b\" tg-width=\"647\" tg-height=\"288\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Even if it is ultimately confirmed to be just a rumor, Ant Group's IPO will be even more distant after this \"rumor\".</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/Sy6Nb4kw8UfSuXGodGlRsQ\">BT财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a36908ff214bd6cd3260483c5eb70478","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/Sy6Nb4kw8UfSuXGodGlRsQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157355451","content_text":"蚂蚁集团估值一度碾压五大银行，如上市将成为全球最大的IPO，但却在2020年底被暂停上市，最近更曝出有落马官员入股的传言。\n\n8月21日，中央纪委国家监委网站公布了对杭州市委书记、浙江省省委常委周江勇的审查通告。同时还公布了要对杭州的政商关系进行清理整治。\n有相关传言称周参与了一家公司IPO前的“突击”入股，蚂蚁集团在事发后的紧急辟谣，有网友戏称：“你不辟谣还想不到是谁呢。”\n\n从蚂蚁集团的严正声明中可以看出，蚂蚁集团辟谣的内容主要是有传言说蚂蚁集团在此前IPO发行的过程中，存在相关人员突击入股的违规行为，并声明蚂蚁集团会采用法律手段维护自身的合法权益，声称要追究造谣者的刑事责任。\n需要注意的是在蚂蚁集团的辟谣之前，大众对所谓的谣传知之甚少，而蚂蚁集团的一番严正声明反而让此事愈演愈烈，蚂蚁集团的此番声明，甚至带来了“此地无银三百两”的诸多质疑。\n\n爬得高 摔得惨\n蚂蚁集团一度被估值高达3.6万亿港元，折合人民币高达3万亿元，一旦上市成功将刷新全球最大IPO记录，将超越贵州茅台成为A股之王。而同期的中国工商银行市值仅为蚂蚁集团的一半左右，仅为1.6万亿元，农业银行市值约为其三分之一，一时间蚂蚁集团成为热议的焦点，大家关注的话题是，凭什么蚂蚁集团能比五大银行的市值都高？\n梳理蚂蚁集团业务内容，大致可以分为以下几个版块，第一块是大家比较熟知也一直在使用的支付功能，现在叫数字支付与商家服务，这是阿里集团最早的数字支付，其中支付宝占蚂蚁集团总收入的36%，营收达260亿元。\n蚂蚁集团业务的重头戏是第二版块，数字金融科技服务，就是卖技术服务费，主要客户并非个人，而是针对银行、证券、基金公司、信托公司、保险公司等金融机构，这一块一度占据蚂蚁集团总收入的大头，在2020年上半年，一度高达六成，约460亿元。\n第三块业务是创新业务及其他。创新包括区块链、数据库等高端技术，用来帮银行验证小微企业的贷款信用的一些大数据技术，同时还有一些像蚂蚁森林之类的项目存在。\n而让蚂蚁集团有可能超越茅台成为A股之王并成为史上最大IPO的是蚂蚁集团的知识产权，蚂蚁集团雄厚的知识产权包含了26项自主研发核心技术产品，18项世界级和国家级核心技术奖项，这些是蚂蚁集团能被认可的关键所在，至于专利、商标分别高达26279和8569项，部及全球40个国家和地区，同时还拥有369项非外观设计及商业秘密、3927项域名、677项著作权。这些知识产权无论是在国内还是全球都是顶级的科技公司。\n很多投资者对蚂蚁集团的上市充满了期待，尤其蚂蚁集团的员工们都幻想着一夜暴富的那一天。但2020年11月3日上交所的一则公告击碎了这些人的美梦，该公告称“蚂蚁集团实际控制人及董事长、总经理被有关部门联合进行监管约谈，蚂蚁集团报告所处的金融科技监管环境发生变化等重大事项。该重大事项可能导致蚂蚁集团不符合发行上市条件或者信息披露要求，因此，决定暂缓蚂蚁集团的上市。”\n\n这是官方给出的答复。其实早在官方给出回复之前，就有说法称蚂蚁集团根本不可能上市，这事的根源或在于马云“炮轰银行事件”，2020年10月24日，上海第二届外滩金融峰会上，马云发表了时长21分钟的慷慨激昂的演讲，有分析称或正是这个演讲，让蚂蚁集团暂缓上市，且可能无限期推迟，因为在演讲中马云公然质疑全世界的银行及监管机构，并对银行进行了“炮轰”。\n不管怎样暂停上市对蚂蚁集团影响巨大。分析指出，蚂蚁集团或成为爬得越高，摔得最惨的“最贵公司”。\n一家“高利贷”公司？\n蚂蚁集团的IPO招股书中显示，支付宝的月度活跃用户由2017年的4.99亿名，上涨到2020年月活用户7.11亿名，年度活跃用户10亿+，月活商家8000万家，如此庞大的支付人群让蚂蚁集团有了充足的底气。\n但在蚂蚁集团最为仰仗的数字金融科技平台中，细分为微贷科技、理财科技、保险科技。看着都挺高大上，都像一家科技公司，后缀也都带着科技两个字，但其实蚂蚁集团核心的业务是——小额贷款、理财产品销售和卖保险。\n\n在小额贷款、理财产品和保险之中，营收规模最大的是小额贷款，2020年上半年营收286亿元，占数字金融科技平台总营收的62%，新冠疫情重创国内经济，很多人失业后不得不依靠借贷维持生计，蚂蚁集团的花呗成为年轻人的最爱，这也导致2020年上半年蚂蚁集团增速38%，在实体经济一片萧条的大环境，蚂蚁集团成为众多投资者的新宠。\n金融从业人士史宝刚认为，“蚂蚁金服的运作模式是通过债权、资产证券化，比如把证券包装为理财产品，循环的发放贷款，形成了100倍杠杆。这种高杠杆意味着高风险，更让人叫绝的是，蚂蚁集团在操作贷款的时候可以做到零成本就能完成“空手套白狼”，从而实现高额的利润，通过债券和资产化证券化的来回运作，交叉购买，自身风险几乎没有，因为风险已经层层转嫁到购买相关理财产品的投资者身上。”\n史宝刚指出：“说白了，蚂蚁集团就是一家‘高利贷’公司，即便他们冠以各种科技称谓，也拥有数量众多的知识产权，但高利润留给自己，高风险扔给社会的本质决定他们的性质”。\n根据招股书数据可知，当芝麻信用足够优秀的情况下，借呗用户的日利率为0.04%左右，折合年化利率为14.6%，但一旦芝麻信用分不够优秀，则年化利率很有可能在18%以上。这个年利率透露一个信号，就是蚂蚁集团在高利贷公司界定的界限边缘游走，因为根据相关法律规定，超过贷款市场报价利率4倍的部分不受法律保护。同期贷款市场报价利率3.85%，4倍的上限应该为15.4%。有人专门尝试了一下借呗的贷款利率，得出最终的利率为18.2%，是否高利贷可以自行判断。\n\n此外，蚂蚁集团还充当中介的角色，通过与银行合作放贷，这些贷款主要客户群体为小微经营者，贷款的日利率为0.03%左右，年化10.95%，蚂蚁集团不需要投入一分钱就能从银行放贷的利息中进行抽成。\n如此无本经营带来的是高利润和高增长，微贷业务占蚂蚁集团整体营收的比重为一直接近四成，比重不断提升。\n蚂蚁森林的“伪公益”\n蚂蚁集团推出蚂蚁森林的时候，很多人的第一感觉还是正面的。但随后慢慢发现，事是好事，蚂蚁森林的初心未必真的是在做公益。将其定位在商业项目开始被外界质疑。\n简单分析一下蚂蚁森林的运作模式，“蚂蚁森林”的最初模式大概是收集能量，偷朋友的能量，以社交的方式，吸引广大朋友圈人的参与，在能量积攒到一定量之后，就可以选择在西北地区或其他环境恶劣的地区种树。此时“蚂蚁森林”会提供一个编号，这个编号就对应着这棵树，还采用了实名制。此举招来很多人的积极响应。\n\n在环保意识逐渐提升的今天，这些人认为种下一棵以自己名字命名的树，相当于环境保护出了一份力。在环保理念深入人心之际，蚂蚁森林受到更多的追崇。\n\n很多人支持蚂蚁森林，看上的是蚂蚁集团宣传的公益环保，而蚂蚁集团利用了这些人的朴素心理，为蚂蚁集团注入更多的流量。\n只是参与蚂蚁森林的公益者们多数人并不知道，“蚂蚁森林”瞄准的市场叫做碳交易市场。这个名词对于普通大众来说也极为陌生，但它却是一个未来能达到万亿级的庞大市场。在国外很多牛人早已瞄上这个庞大市场，前世界首富和现世界首富比尔盖茨和埃隆马斯克都在这个领域布局已久。以埃隆马斯克为例，他通过碳交易市场已经获得了20亿美金的收入，可怕的是，这只是开始阶段的收益，未来将会不断暴增的天文数字。\n从目前来看，“蚂蚁森林”现在的体量并不大，从2016年8月到现在，通过碳交易市场也获得了百亿以上的生态系统生产总值，随着未来“蚂蚁森林”的不断深入拓展，蚂蚁森林将有可能会成为阿里旗下的另一个独角兽企业，市值并不比蚂蚁金服少太多。\n让蚂蚁森林拥有广阔前景的是在《京都议定书》，该协定为了控制地球的温室效应，把大气中温室气体的含量控制在一个合理的区间，这就需要全球各国尽可能地减少排放。\n而其中的关键点是控制二氧化碳的排放，这就产生了碳交易市场，也就是说没有碳排放标准的企业是没有办法生产的，而有的企业制造了大量的指标，根本用不完，不够用的向用不完的企业购买指标，举例来说，联想一年500吨的排放标准根本不够用，用完了500吨之后要想生产，可能就得向蚂蚁森林购买，国外也有不少类似案例，特斯拉就靠此赚了不少钱。\n\n“蚂蚁森林”的高明之处在于打着公益的幌子实现盈利的目的，通过植树造林，让树林通过光合作用吸收二氧化碳放出氧气，就可以实现减排，创造出排放指标。然后蚂蚁森林可以把排放指标卖给需要的企业。森林越长越大，植树越来越多，指标越来越多，借着公益者这只母鸡，有着源源不断的鸡蛋，蚂蚁森林“借鸡生蛋”非常高明。\n有意思的是，目前碳排放市场几乎是明码标价，每吨碳排放为18元左右，蚂蚁森林从2016年到2020年底，4年的时间减排量达到了1200万吨，数字并不大，但他们几乎是几何倍增速，已让蚂蚁森林充满前景，这就好比是一个存钱罐一样，每时每刻都在进钱，而自身付出的成本却微乎其微。\n上市遥遥无期\n在蚂蚁集团被暂停上市后，很多金融从业者除了对蚂蚁集团有些惋惜之外，很快就淡忘了此事，而一直关注蚂蚁集团的投资者却可能暂时看不到希望。\n“蚂蚁集团被暂停上市，最主要还是他们的经营模式，那种赤裸裸的信贷公司，如果成为国内最大的IPO，就会和国家最近一直重点治理信贷公司的初衷相违背，现阶段来看，数年内蚂蚁集团上市都很难。”从事投资多年的刘波对蚂蚁集团的上市持不乐观态度。\n正在蚂蚁集团多事之秋之际，杭州市委书记周江勇的落马，尤其蚂蚁集团严正声明中的相关人员的称谓，更给人诸多遐想。\n据《财经》报道，从8月21日至22日，有关周江勇家族涉嫌在当地一家公司IPO前突击入股，而这家IPO的公司并未被点名道姓，结合周江勇在主政杭州期间，曾大力推进数字经济发展，提出要将杭州打造成全国数字经济第一城。过去几年，他与当地数字经济龙头企业有较多工作接触。于是公众自然联想到蚂蚁集团，蚂蚁集团的严正声明则直接将谣传中的“当地一家公司”直接换成了蚂蚁集团，至于事件的真相目前尚无定论，一切将以权威部门查实后的通告为准。\n而那则严正声明的效果却起到了相反的作用，去年刚辟谣就被“打脸”的尴尬并不遥远，当时有媒体报道说中央联合调查组进驻阿里，阿里第一时间发表同样的严正声明，也要追究造谣者的刑事责任。\n\n但在几天后就被证实，调查组进驻阿里是真事，且已经完成了现场的调查取证。\n\n即便最终证实只是谣传，但在经此“谣传”后，蚂蚁集团上市更将遥遥无期。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834237776,"gmtCreate":1629805642695,"gmtModify":1676530136524,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834237776","repostId":"1134494417","repostType":4,"isVote":1,"tweetType":1,"viewCount":4086,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806702183,"gmtCreate":1627692200442,"gmtModify":1703494705087,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":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| 輝瑞財報分析 疫苗收入即將超過主營！","htmlText":"期待很久的輝瑞<a target=\"_blank\" href=\"https://laohu8.com/S/PFE\">$輝瑞(PFE)$</a>發佈了2021年第二季度的財報，對於目前的股票市場和大流行，閱讀這份2021Q2輝瑞財報，着重點更多的是放在了新冠疫苗上。閱讀這份財報並不簡單，包含了大量專業詞彙，讀起來也不像其他公司那樣輕鬆，輝瑞公司我關注了很久，在此之前我翻閱了大量關於生物製藥的材料，看了很多份文件，但是閱讀這份財報的時候還是比較吃力。 我盡我可能將這些專業術語或者比較難懂的內容進行大白話模式的表達，以方便大家理解。如果是在看不下去，可以直接跳到最後一部分，有我對於輝瑞公司的目標價位等。 前言 輝瑞公司更換了LOGO，由之前的藍色小藥丸，變成了現在藍色雙螺旋，這真的是越來越追求生物製藥了，不知道會不會變成“傘公司”呢？開個玩笑，對於輝瑞來說，並非只有新冠疫苗，其製藥部分更爲龐大和複雜。我們閱讀這份財報主要看疫苗（BNT162b2）部分，這應該也是大家都比較關注的一點，理論上上疫苗上市後需求會有個高峯，而後會出現下滑，如果疫苗的需求量 一直處於高峯或者每個季度都比上個季度高，這雖然對公司營收上來看挺好的，但反而說明大流行沒那麼快會結束。 小提示：輝瑞疫苗是由<a target=\"_blank\" href=\"https://laohu8.com/S/PFE\">$輝瑞(PFE)$</a>&nbsp;和<a target=\"_blank\" href=\"https://laohu8.com/S/BNTX\">$BioNTech SE(BNTX)$</a>&nbsp;聯合開發的，並非只有輝瑞一家公司，根據後面財報信息，我們也可以讀出這兩家公司是如何分割利潤的。 看財報前，我對該公司的預期也是因疫苗而產生的營銷額應該遠超於2021Q1季度，而面對目前的變種誕生，輝瑞或許在未來會推","listText":"期待很久的輝瑞<a target=\"_blank\" href=\"https://laohu8.com/S/PFE\">$輝瑞(PFE)$</a>發佈了2021年第二季度的財報，對於目前的股票市場和大流行，閱讀這份2021Q2輝瑞財報，着重點更多的是放在了新冠疫苗上。閱讀這份財報並不簡單，包含了大量專業詞彙，讀起來也不像其他公司那樣輕鬆，輝瑞公司我關注了很久，在此之前我翻閱了大量關於生物製藥的材料，看了很多份文件，但是閱讀這份財報的時候還是比較吃力。 我盡我可能將這些專業術語或者比較難懂的內容進行大白話模式的表達，以方便大家理解。如果是在看不下去，可以直接跳到最後一部分，有我對於輝瑞公司的目標價位等。 前言 輝瑞公司更換了LOGO，由之前的藍色小藥丸，變成了現在藍色雙螺旋，這真的是越來越追求生物製藥了，不知道會不會變成“傘公司”呢？開個玩笑，對於輝瑞來說，並非只有新冠疫苗，其製藥部分更爲龐大和複雜。我們閱讀這份財報主要看疫苗（BNT162b2）部分，這應該也是大家都比較關注的一點，理論上上疫苗上市後需求會有個高峯，而後會出現下滑，如果疫苗的需求量 一直處於高峯或者每個季度都比上個季度高，這雖然對公司營收上來看挺好的，但反而說明大流行沒那麼快會結束。 小提示：輝瑞疫苗是由<a target=\"_blank\" href=\"https://laohu8.com/S/PFE\">$輝瑞(PFE)$</a>&nbsp;和<a target=\"_blank\" href=\"https://laohu8.com/S/BNTX\">$BioNTech SE(BNTX)$</a>&nbsp;聯合開發的，並非只有輝瑞一家公司，根據後面財報信息，我們也可以讀出這兩家公司是如何分割利潤的。 看財報前，我對該公司的預期也是因疫苗而產生的營銷額應該遠超於2021Q1季度，而面對目前的變種誕生，輝瑞或許在未來會推","text":"期待很久的輝瑞$輝瑞(PFE)$發佈了2021年第二季度的財報，對於目前的股票市場和大流行，閱讀這份2021Q2輝瑞財報，着重點更多的是放在了新冠疫苗上。閱讀這份財報並不簡單，包含了大量專業詞彙，讀起來也不像其他公司那樣輕鬆，輝瑞公司我關注了很久，在此之前我翻閱了大量關於生物製藥的材料，看了很多份文件，但是閱讀這份財報的時候還是比較吃力。 我盡我可能將這些專業術語或者比較難懂的內容進行大白話模式的表達，以方便大家理解。如果是在看不下去，可以直接跳到最後一部分，有我對於輝瑞公司的目標價位等。 前言 輝瑞公司更換了LOGO，由之前的藍色小藥丸，變成了現在藍色雙螺旋，這真的是越來越追求生物製藥了，不知道會不會變成“傘公司”呢？開個玩笑，對於輝瑞來說，並非只有新冠疫苗，其製藥部分更爲龐大和複雜。我們閱讀這份財報主要看疫苗（BNT162b2）部分，這應該也是大家都比較關注的一點，理論上上疫苗上市後需求會有個高峯，而後會出現下滑，如果疫苗的需求量 一直處於高峯或者每個季度都比上個季度高，這雖然對公司營收上來看挺好的，但反而說明大流行沒那麼快會結束。 小提示：輝瑞疫苗是由$輝瑞(PFE)$ 和$BioNTech SE(BNTX)$ 聯合開發的，並非只有輝瑞一家公司，根據後面財報信息，我們也可以讀出這兩家公司是如何分割利潤的。 看財報前，我對該公司的預期也是因疫苗而產生的營銷額應該遠超於2021Q1季度，而面對目前的變種誕生，輝瑞或許在未來會推","images":[{"img":"https://static.tigerbbs.com/c4c0064c4ee1031ad4d1c93dd363f47f","width":"688","height":"387"},{"img":"https://static.tigerbbs.com/ed38c8fce64d5b5b3df59db4e732cea8","width":"653","height":"1147"},{"img":"https://static.tigerbbs.com/8ad6f60d8c644fa6ffeb103b66bade2f","width":"688","height":"955"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/801575381","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":16,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":3252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174715859,"gmtCreate":1627138856471,"gmtModify":1703484724515,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/174715859","repostId":"2153133933","repostType":4,"repost":{"id":"2153133933","kind":"news","pubTimestamp":1627094380,"share":"https://ttm.financial/m/news/2153133933?lang=en_US&edition=fundamental","pubTime":"2021-07-24 10:39","market":"us","language":"zh","title":"Behind the rumors of acquiring GlobalFoundries: Intel's chip manufacturing ambitions revealed","url":"https://stock-news.laohu8.com/highlight/detail?id=2153133933","media":"中国经营报","summary":"作为目前全球半导体产业中为数不多保留了芯片制造部门的龙头公司，英特尔近年来却在造芯环节开始落后于以芯片制造代工为核心业务的台积电，尤其是在先进制程方面，英特尔的7纳米工艺迟迟没有进展，台积电日前则在季度财报上宣布已通过5纳米工艺赚取了近三个季度10%的营收，同时还将在今年三季度试产3纳米工艺。","content":"<p>What may be the largest merger and acquisition plan in the global semiconductor industry in recent years has recently surfaced. On July 17, according to the Wall Street Journal, citing sources familiar with the matter,<a href=\"https://laohu8.com/S/INTC\">Intel</a>The company is currently exploring a $30 billion (approximately RMB 194 billion) acquisition of GlobalFoundries (commonly referred to as \"GlobalFoundries\" in the industry), which previously...<a href=\"https://laohu8.com/S/TSM\">TSMC</a>The deal, a global chip manufacturing giant on par with others, would be Intel's largest acquisition ever if it goes through.</p><p>However, the rumors were quickly denied by Grosvenor. On July 19, the CEO of GlobalFoundation stated that the news of acquisition talks with Intel was just speculation, and denied that he had engaged in acquisition discussions with the former, but would continue to seek an IPO. In response, a reporter from China Business Journal interviewed the head of Intel China, but the head of Intel China stated that he would not comment on this topic.</p><p>While this official response quickly cooled the public outcry surrounding this earth-shattering deal, there is growing evidence that Intel hopes to make a difference in the chip manufacturing field. Recently, the Financial Times, citing official Intel statements, confirmed that the company is planning to invest $20 billion (approximately RMB 129.6 billion) to build chip factories in several EU member states, and the company is currently lobbying to obtain EU support.</p><p>As one of the few leading companies in the global semiconductor industry that has retained its chip manufacturing division, Intel has begun to lag behind TSMC, whose core business is chip manufacturing, in recent years. In particular, in terms of advanced manufacturing processes, Intel's 7-nanometer process has not made progress. TSMC recently announced in its quarterly financial report that it has earned 10% of its revenue in the past three quarters through 5-nanometer processes, and will also begin trial production of 3-nanometer processes in the third quarter of this year.</p><p>Given this gap, whether Intel can ultimately succeed in acquiring GlobalFoundries seems to no longer affect the outside world's judgment that it will strive to return to the advanced ranks of chip manufacturing. The competitive landscape of the entire global semiconductor manufacturing field may also quietly enter a new phase, marked by the rumored acquisition of GlobalFoundries by Intel.</p><p><b>The probability of acquisition remains high.</b></p><p>Behind Intel's recent series of moves, Pat Gelsinger is seen as the core figure driving this round of decisions. He officially succeeded his predecessor Bob Swan as the company's CEO in February of this year. According to the Wall Street Journal, Bob Swann's departure was due to his ineffective efforts in advancing advanced manufacturing processes, which caused him to fall behind his main competitors.<a href=\"https://laohu8.com/S/AMD\">AMD</a>Related.</p><p>Therefore, less than a month after taking office, Kissinger made a high-profile announcement of Intel's \"IDM 2.0\" vision. IDM refers to semiconductor companies that cover all aspects from design to manufacturing. Because chip manufacturing requires extremely high capital investment in technology research and development, only a very few giants have the capability to undertake this role. In the field of semiconductor manufacturing, currently only Intel,<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>A few companies follow the IDM model, while others adopt a dedicated contract manufacturing model like TSMC.</p><p>In this newly drawn IDM2.0 blueprint, the foundry business has become Intel's most important future strategy. In his speech, Kissinger stated that Intel plans to become a major foundry capacity supplier in the United States and Europe, serving customers worldwide. To this end, Intel will invest $20 billion to build two new factories in Arizona, open an independent foundry division, and collaborate with third-party foundries.</p><p>It is worth noting that when announcing the list of partners, Kissinger directly mentioned TSMC,<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>And the name GlobalFoundry, and these three companies currently occupy the top three positions in the global chip foundry industry. According to data from market research firm Topology Industry Research Institute, TSMC held a 49.2% market share in the global wafer foundry sector in the second quarter of 2019, followed by Samsung with 18.0% and GlobalFoundry with 8.7%.</p><p>Public information shows that GlobalFoundation was founded in March 2009. Its predecessor was the wafer fab of AMD, Intel's old rival in the US domestic market. Due to years of losses, it was eventually sold by AMD. It was established after investment from the Abu Dhabi Venture Capital Fund (ATIC) in the UAE, specializing in chip foundry business.</p><p>However, in recent years, due to the slow progress of advanced process research and development, GlobalFoundry has gradually lost out in the competition with TSMC and Samsung, and its market share has repeatedly declined. This has directly led to a shrinking of its revenue and profit scale, making it less able to invest enough funds in the arms race of chip manufacturing processes, thus forming an a vicious circle.</p><p>According to Luo Guozhao, director of the China Lab at the CHIP Global Test Center, although Intel has encountered difficulties in recent years, its stable financial performance is still at the level of a giant. On the other hand, although it is also weak in cutting-edge manufacturing processes, GlobalFoundry has a stable production capacity supply and a market share of nearly 8% above 10 nanometers.</p><p>In addition, the reporter noted that in terms of macroeconomic policy, at the end of March this year, the US government announced a $50 billion local revitalization plan for the semiconductor industry, which will be used to invest in chip manufacturing and research and development to accelerate the return of the manufacturing supply chain to the United States. Luo Guozhao stated that under this policy, no company with an American background is more suitable for Intel than GlobalFoundation, and if Intel completes the acquisition and focuses on contract manufacturing, it will undoubtedly receive more subsidies from the $50 billion.</p><p>Ji Wei, a senior semiconductor analyst from Taiwan, also told reporters that through the Intel acquisition, the United States will have more capital to put pressure on TSMC, thereby forcing TSMC to increase its investment in the United States.</p><p>Given all these realities, Intel, which aims to rise in the foundry industry, and GlobalFoundry, which needs funding, were able to exchange what they needed in the transaction, which may be the main reason for the acquisition rumors.</p><p>“Given that everyone gets what they need, if Intel offers a reasonable price, it’s hard to say that the major shareholder in the Middle East will definitely refuse,” Luo Guozhao said. He added that GlobalFoundation’s own wishes are one thing, but the decision on whether to sell is not in its hands. Therefore, the possibility of an acquisition remains high, and at this stage, it would be a win-win decision for both parties.</p><p><b>Catching up with Samsung and TSMC</b></p><p>With the implementation of the IDM2.0 strategy, Intel's goal of catching up has become increasingly clear. If Intel can successfully capture GlobalFoundation's market share, it will only have two competitors left: Samsung and TSMC.</p><p>According to reporters, although Intel's 7-nanometer process has not yet been launched, while Samsung and TSMC have both announced that they will enter the 3-nanometer process this year, in reality, the performance of a chip depends on the number of transistors. Therefore, the lower the process, the more advanced it is, because a larger number of transistors can be accommodated per unit area. Public information shows that TSMC's 5-nanometer chip has a transistor density of approximately 173 million chips per square millimeter, Samsung's 3-nanometer chip has a transistor density of approximately 170 million chips per square millimeter, and Intel's planned 7-nanometer chip has a transistor density of 180 million chips per square millimeter.</p><p>This also means that although Intel is two generations behind in manufacturing processes, the gap between Intel and Samsung and TSMC in terms of technology is much smaller than imagined. Once 7-nanometer technology matures, Intel will have the strength to surpass Samsung and catch up with TSMC.</p><p>Of particular note is the latest Q2 2021 financial report, which shows that although TSMC's revenue growth reached a new high, its profits were slightly lower than expected, and its estimated gross profit margin for the third quarter was also lower than expected.</p><p>Given the delicate situation, Kissinger also stated in a recent media interview that Intel will take two years to catch up with TSMC. However, Luo Guozhao believes that Intel will not be a competitor to TSMC in the short term. After all, TSMC's 3-nanometer process is still far ahead, and catching up in terms of manufacturing processes is not something that can be achieved overnight. This is why Intel chose to cooperate with TSMC.</p><p>According to TSMC CEO Wei Zhejia, the 3-nanometer process will increase transistor density by 70% compared to the 5-nanometer process, and mass production may begin in the second half of next year. Foreign media, citing sources, reported that<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Intel will be the main customer for this production line.</p><p>According to Ji Wei, Intel still has many problems to solve before surpassing TSMC. Even if it attempts to acquire GlobalFoundry, from the perspective of acquisition resistance, GlobalFoundry has been in poor shape in recent years, and its influence has been...<a href=\"https://laohu8.com/S/SMI\">SMIC</a>with<a href=\"https://laohu8.com/S/UMC\">United Mobile</a>As the gap gradually widens, it will be even more difficult to shake TSMC. “GlobalFoundries is currently operating at a loss, and the acquisition at this time will put some pressure on its financial statements. If Intel really wants to acquire GlobalFoundries, it may need to have sufficient reasons to convince investors to agree,” Ji Wei said.</p>","source":"tencent","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>Behind the rumors of acquiring GlobalFoundries: Intel's chip manufacturing ambitions revealed</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\">\nBehind the rumors of acquiring GlobalFoundries: Intel's chip manufacturing ambitions revealed\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中国经营报</strong><span class=\"h-time small\">2021-07-24 10:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What may be the largest merger and acquisition plan in the global semiconductor industry in recent years has recently surfaced. On July 17, according to the Wall Street Journal, citing sources familiar with the matter,<a href=\"https://laohu8.com/S/INTC\">Intel</a>The company is currently exploring a $30 billion (approximately RMB 194 billion) acquisition of GlobalFoundries (commonly referred to as \"GlobalFoundries\" in the industry), which previously...<a href=\"https://laohu8.com/S/TSM\">TSMC</a>The deal, a global chip manufacturing giant on par with others, would be Intel's largest acquisition ever if it goes through.</p><p>However, the rumors were quickly denied by Grosvenor. On July 19, the CEO of GlobalFoundation stated that the news of acquisition talks with Intel was just speculation, and denied that he had engaged in acquisition discussions with the former, but would continue to seek an IPO. In response, a reporter from China Business Journal interviewed the head of Intel China, but the head of Intel China stated that he would not comment on this topic.</p><p>While this official response quickly cooled the public outcry surrounding this earth-shattering deal, there is growing evidence that Intel hopes to make a difference in the chip manufacturing field. Recently, the Financial Times, citing official Intel statements, confirmed that the company is planning to invest $20 billion (approximately RMB 129.6 billion) to build chip factories in several EU member states, and the company is currently lobbying to obtain EU support.</p><p>As one of the few leading companies in the global semiconductor industry that has retained its chip manufacturing division, Intel has begun to lag behind TSMC, whose core business is chip manufacturing, in recent years. In particular, in terms of advanced manufacturing processes, Intel's 7-nanometer process has not made progress. TSMC recently announced in its quarterly financial report that it has earned 10% of its revenue in the past three quarters through 5-nanometer processes, and will also begin trial production of 3-nanometer processes in the third quarter of this year.</p><p>Given this gap, whether Intel can ultimately succeed in acquiring GlobalFoundries seems to no longer affect the outside world's judgment that it will strive to return to the advanced ranks of chip manufacturing. The competitive landscape of the entire global semiconductor manufacturing field may also quietly enter a new phase, marked by the rumored acquisition of GlobalFoundries by Intel.</p><p><b>The probability of acquisition remains high.</b></p><p>Behind Intel's recent series of moves, Pat Gelsinger is seen as the core figure driving this round of decisions. He officially succeeded his predecessor Bob Swan as the company's CEO in February of this year. According to the Wall Street Journal, Bob Swann's departure was due to his ineffective efforts in advancing advanced manufacturing processes, which caused him to fall behind his main competitors.<a href=\"https://laohu8.com/S/AMD\">AMD</a>Related.</p><p>Therefore, less than a month after taking office, Kissinger made a high-profile announcement of Intel's \"IDM 2.0\" vision. IDM refers to semiconductor companies that cover all aspects from design to manufacturing. Because chip manufacturing requires extremely high capital investment in technology research and development, only a very few giants have the capability to undertake this role. In the field of semiconductor manufacturing, currently only Intel,<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>A few companies follow the IDM model, while others adopt a dedicated contract manufacturing model like TSMC.</p><p>In this newly drawn IDM2.0 blueprint, the foundry business has become Intel's most important future strategy. In his speech, Kissinger stated that Intel plans to become a major foundry capacity supplier in the United States and Europe, serving customers worldwide. To this end, Intel will invest $20 billion to build two new factories in Arizona, open an independent foundry division, and collaborate with third-party foundries.</p><p>It is worth noting that when announcing the list of partners, Kissinger directly mentioned TSMC,<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>And the name GlobalFoundry, and these three companies currently occupy the top three positions in the global chip foundry industry. According to data from market research firm Topology Industry Research Institute, TSMC held a 49.2% market share in the global wafer foundry sector in the second quarter of 2019, followed by Samsung with 18.0% and GlobalFoundry with 8.7%.</p><p>Public information shows that GlobalFoundation was founded in March 2009. Its predecessor was the wafer fab of AMD, Intel's old rival in the US domestic market. Due to years of losses, it was eventually sold by AMD. It was established after investment from the Abu Dhabi Venture Capital Fund (ATIC) in the UAE, specializing in chip foundry business.</p><p>However, in recent years, due to the slow progress of advanced process research and development, GlobalFoundry has gradually lost out in the competition with TSMC and Samsung, and its market share has repeatedly declined. This has directly led to a shrinking of its revenue and profit scale, making it less able to invest enough funds in the arms race of chip manufacturing processes, thus forming an a vicious circle.</p><p>According to Luo Guozhao, director of the China Lab at the CHIP Global Test Center, although Intel has encountered difficulties in recent years, its stable financial performance is still at the level of a giant. On the other hand, although it is also weak in cutting-edge manufacturing processes, GlobalFoundry has a stable production capacity supply and a market share of nearly 8% above 10 nanometers.</p><p>In addition, the reporter noted that in terms of macroeconomic policy, at the end of March this year, the US government announced a $50 billion local revitalization plan for the semiconductor industry, which will be used to invest in chip manufacturing and research and development to accelerate the return of the manufacturing supply chain to the United States. Luo Guozhao stated that under this policy, no company with an American background is more suitable for Intel than GlobalFoundation, and if Intel completes the acquisition and focuses on contract manufacturing, it will undoubtedly receive more subsidies from the $50 billion.</p><p>Ji Wei, a senior semiconductor analyst from Taiwan, also told reporters that through the Intel acquisition, the United States will have more capital to put pressure on TSMC, thereby forcing TSMC to increase its investment in the United States.</p><p>Given all these realities, Intel, which aims to rise in the foundry industry, and GlobalFoundry, which needs funding, were able to exchange what they needed in the transaction, which may be the main reason for the acquisition rumors.</p><p>“Given that everyone gets what they need, if Intel offers a reasonable price, it’s hard to say that the major shareholder in the Middle East will definitely refuse,” Luo Guozhao said. He added that GlobalFoundation’s own wishes are one thing, but the decision on whether to sell is not in its hands. Therefore, the possibility of an acquisition remains high, and at this stage, it would be a win-win decision for both parties.</p><p><b>Catching up with Samsung and TSMC</b></p><p>With the implementation of the IDM2.0 strategy, Intel's goal of catching up has become increasingly clear. If Intel can successfully capture GlobalFoundation's market share, it will only have two competitors left: Samsung and TSMC.</p><p>According to reporters, although Intel's 7-nanometer process has not yet been launched, while Samsung and TSMC have both announced that they will enter the 3-nanometer process this year, in reality, the performance of a chip depends on the number of transistors. Therefore, the lower the process, the more advanced it is, because a larger number of transistors can be accommodated per unit area. Public information shows that TSMC's 5-nanometer chip has a transistor density of approximately 173 million chips per square millimeter, Samsung's 3-nanometer chip has a transistor density of approximately 170 million chips per square millimeter, and Intel's planned 7-nanometer chip has a transistor density of 180 million chips per square millimeter.</p><p>This also means that although Intel is two generations behind in manufacturing processes, the gap between Intel and Samsung and TSMC in terms of technology is much smaller than imagined. Once 7-nanometer technology matures, Intel will have the strength to surpass Samsung and catch up with TSMC.</p><p>Of particular note is the latest Q2 2021 financial report, which shows that although TSMC's revenue growth reached a new high, its profits were slightly lower than expected, and its estimated gross profit margin for the third quarter was also lower than expected.</p><p>Given the delicate situation, Kissinger also stated in a recent media interview that Intel will take two years to catch up with TSMC. However, Luo Guozhao believes that Intel will not be a competitor to TSMC in the short term. After all, TSMC's 3-nanometer process is still far ahead, and catching up in terms of manufacturing processes is not something that can be achieved overnight. This is why Intel chose to cooperate with TSMC.</p><p>According to TSMC CEO Wei Zhejia, the 3-nanometer process will increase transistor density by 70% compared to the 5-nanometer process, and mass production may begin in the second half of next year. Foreign media, citing sources, reported that<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Intel will be the main customer for this production line.</p><p>According to Ji Wei, Intel still has many problems to solve before surpassing TSMC. Even if it attempts to acquire GlobalFoundry, from the perspective of acquisition resistance, GlobalFoundry has been in poor shape in recent years, and its influence has been...<a href=\"https://laohu8.com/S/SMI\">SMIC</a>with<a href=\"https://laohu8.com/S/UMC\">United Mobile</a>As the gap gradually widens, it will be even more difficult to shake TSMC. “GlobalFoundries is currently operating at a loss, and the acquisition at this time will put some pressure on its financial statements. If Intel really wants to acquire GlobalFoundries, it may need to have sufficient reasons to convince investors to agree,” Ji Wei said.</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=nesSN2021072410404779d73bc6&s=b\">中国经营报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"159813":"芯片","03086":"华夏纳指","INTC":"英特尔","09086":"华夏纳指-U"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021072410404779d73bc6&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2153133933","content_text":"一桩也许是近年来全球半导体业内最大的并购计划日前浮出水面。7月17日，据《华尔街日报》援引知情人士透露，英特尔正在研究以300亿美元（约合人民币1940亿元）的价格收购格罗方德（业界常简称为“格芯”），后者曾是与台积电齐名的全球芯片制造巨头，如果该笔交易成行，将成为英特尔有史以来最大的一笔收购。\n不过，传闻很快遭到格罗方德否认。7月19日，格罗方德CEO出面表示，与英特尔洽谈收购的消息只是推测而已，并否认与前者展开过收购方面的讨论，而是会继续寻求通过IPO方式实现上市。对此，《中国经营报》记者采访了英特尔中国区负责人，但对方表示对此话题不作回应。\n这一官方回应虽然迅速冷却了这笔有可能震动业界的惊天交易的舆论热度，但已有越来越多的证据显示，英特尔期冀在芯片制造领域有所作为。近日，英国《金融时报》引述英特尔官方说法证实，该公司正在计划投资200亿美元（约合人民币1296亿元）在多个欧盟成员国建造芯片工厂，目前该公司正在进行游说工作，以获得欧盟方面的支持。\n作为目前全球半导体产业中为数不多保留了芯片制造部门的龙头公司，英特尔近年来却在造芯环节开始落后于以芯片制造代工为核心业务的台积电，尤其是在先进制程方面，英特尔的7纳米工艺迟迟没有进展，台积电日前则在季度财报上宣布已通过5纳米工艺赚取了近三个季度10%的营收，同时还将在今年三季度试产3纳米工艺。\n如此差距之下，英特尔能否在收购格芯的进程中最终得手，似乎都已不影响外界对其将奋力重回芯片制造先进阵营的判断，而整个全球半导体制造领域的竞争格局，或也将以此次英特尔收购格芯传闻事件为标志，悄然进入新的态势。\n收购概率依然很高\n在英特尔近期连番动作背后，帕特·基辛格（Pat Gelsinger）被视为推动该轮决策的核心角色，他在今年2月正式接替了前任鲍勃·斯旺（Bob Swan）出任该公司的CEO。而据《华尔街日报》报道，鲍勃·斯旺出局的原因，正与其在推进先进制程方面不力导致落后主要竞争对手AMD有关。\n因此，履新不到一个月后，基辛格便高调对外宣布了英特尔的“IDM2.0”愿景。其中，IDM意指涵盖从设计到制造所有环节的半导体公司，由于芯片制造需要极高的资本投入技术研发，因此只有极少数巨头公司才有这一实力承担这一角色。在半导体制造领域，目前全球只有英特尔、三星等少数几家公司奉行IDM模式，其他则都采用台积电一类的专职代工模式。\n而在这张新绘制的IDM2.0蓝图中，代工业务也成为英特尔最重要的未来战略，基辛格在演讲中表示，英特尔计划成为美国和欧洲的主要代工产能供应商，为全球客户提供服务。为此，英特尔将投资200亿美元在亚利桑那州新建两家工厂、开设独立代工事务部门以及与第三方代工厂商进行合作。\n值得注意的是，在宣布合作名单时，基辛格直接点出了台积电、三星电子以及格罗方德的名字，而这三家企业正是占据目前全球芯片代工领域前三把交椅的主人。市场调研机构拓墣产业研究院数据显示，在全球晶圆代工领域，2019年第二季度台积电的市场份额为49.2%，紧随其后的为拥有18.0%份额的三星和8.7%的格罗方德。\n公开信息显示，格罗方德成立于2009年3月，其前身是英特尔在美国本土市场的老对手AMD的晶圆厂，因为连年亏损，最终被AMD脱手，经阿联酋阿布扎比创投基金 (ATIC) 注资后成立，专营芯片代工业务。\n但近年来，由于先进制程研发的进程并不顺利，格罗方德在与台积电、三星的竞争中逐渐败下阵来，市场份额一再下降，这也直接导致了其营收与利润规模的萎缩，使其更无足够的资金投入到芯片制程的军备竞赛上，从而形成恶性循环。\n在CHIP全球测试中心中国实验室主任罗国昭看来，英特尔虽然近年来遭遇困境，但稳定的财务表现仍是巨头级别；另一方面，虽然在尖端制程上同样乏力，但格罗方德在10纳米以上有稳定的产能供应与近8%的市场份额。\n此外，记者注意到，宏观政策上，今年3月底，美国官方公布了一轮规模达500亿美元的半导体产业本土振兴计划，用以投入芯片制造与研发，加速制造供应链重返美国。罗国昭表示，在这一政策下，没有比格罗方德这一美国背景的公司更适合英特尔，而英特尔如果完成收购并发力代工，无疑也能从500亿美元中获得更多的补贴。\n来自中国台湾的半导体资深分析师季维也向记者表示，美国透过英特尔这一收购案，能拥有更多向台积电施压的资本，以此逼迫台积电加大在美国的投资。\n以上种种现实因素，意欲在代工领域完成崛起的英特尔，以及需要资金补充的格罗方德，双方能够在交易中互取所需，这或许是收购绯闻传出的主要原因。\n“各取所需下，如果英特尔给出一个合理的价格，很难说中东的大股东就一定会拒绝。”罗国昭表示，格罗方德自身的意愿是一回事，但是否出售的决定权并不在其手中。因此，收购的可能性依然很高，而且在现阶段而言，这对双方都会是一个双赢的决定。\n赶超三星、台积电\n随着IDM2.0战略的践行，英特尔发力追赶的目标也已越来越清晰。如果能够成功吃下格罗方德的市场份额，英特尔前方将会只剩下三星与台积电两个对手。\n据记者了解，虽然目前英特尔的7纳米尚未推出，而三星、台积电均已宣布年内进军3纳米制程，但在实际中，一款芯片的性能取决于晶体管的数量，所以制程工艺越低越先进，因为单位面积内能容纳更多数量的晶体管。而公开信息显示，台积电5纳米芯片晶体管密度约为1.73亿颗/平方毫米，三星3纳米芯片晶体管密度约为1.7亿颗/平方毫米，英特尔规划中的7纳米芯片则达到了1.8亿颗/平方毫米。\n这也意味着，虽然落后两代制程，但英特尔在工艺方面与三星、台积电的差距比想象中要小得多，一旦7纳米技术成熟，英特尔也将有超越三星直追台积电的实力。\n尤其值得注意的是，最新的2021年二季度财报显示，虽然台积电营收增长再创新高，但获利略逊于预期，第三季预估的毛利率也不如预期。\n微妙的形势对比下，基辛格也在日前接受媒体采访时表示，英特尔将花两年时间赶上台积电。不过，罗国昭认为，短期内英特尔还不会是台积电的对手，毕竟台积电的3纳米工艺还是遥遥领先，而且制程方面的赶超不是朝夕之功，这也是英特尔选择与台积电合作的原因。\n据台积电CEO魏哲家此前透露，同5纳米工艺相比，3纳米工艺将使晶体管密度提升70%，并可能在明年下半年开始量产。外媒援引消息人士透露，苹果与英特尔将会是这一产线的主要客户。\n而在季维看来，在超过台积电之前，英特尔要解决的问题还有很多，即使其试图推进收购格罗方德，如果从收购阻力层面观察，格罗方德这几年的状况欠佳，在影响力上，被中芯国际与联电逐渐拉开差距，更无法撼动台积电。“格罗方德目前也还存在亏损，此时收购会在财务报表上造成一些压力，英特尔若真要收购格罗方德，可能要有充分的理由说服投资人同意。”季维表示。","news_type":1,"symbols_score_info":{"159813":0.9,"INTC":0.9,"03086":0.9,"09086":0.9}},"isVote":1,"tweetType":1,"viewCount":5137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178371206,"gmtCreate":1626789824105,"gmtModify":1703765264612,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178371206","repostId":"1195550175","repostType":4,"repost":{"id":"1195550175","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":1626782161,"share":"https://ttm.financial/m/news/1195550175?lang=en_US&edition=fundamental","pubTime":"2021-07-20 19:56","market":"us","language":"zh","title":"Is the US stock market crash a possibility of a first-round exit? The real show is yet to come.","url":"https://stock-news.laohu8.com/highlight/detail?id=1195550175","media":"英为财情Investing","summary":"周一，因新冠病例激增引发了市场对全球经济的担忧，欧美股市惨遭大范围抛售，投资者担心或将再次实施停摆措施，这将令经济复苏将放缓。\n全球新冠病例激增\n根据路透的一项数据分析，过去30天里，因每日平均住院人","content":"<p>On Monday, European and American stock markets suffered a widespread sell-off as a surge in COVID-19 cases triggered market concerns about the global economy, with investors worried that another lockdown might be imposed, which would slow the economic recovery.</p><p><b>Global COVID-19 cases surge</b></p><p>According to a Reuters data analysis, the average number of new COVID-19 cases per day in the United States has tripled over the past 30 days as the average daily number of hospitalizations has increased by 21% from 16,000 to more than 19,000. Last week's death toll increased by 25% compared to the previous seven days, averaging 250 deaths per day.</p><p>The situation in Europe is also not optimistic. France announced on the 19th that it had entered the fourth wave of the epidemic, and Germany's infection rate has risen for the 11th consecutive day.</p><p>Besides China, the epidemic situation in Asia is also worsening in countries such as Myanmar, Indonesia, and India.</p><p><b>Global stock markets experienced a night of panic</b></p><p>With the outbreak of the pandemic, the market has cast doubt on the economic recovery in the second half of the year, leading to a sell-off in the stock market. The Nasdaq Composite Index fell 1.06%; The S&P 500 fell 1.59%, with the S&P 500 and Nasdaq recording their biggest drops since mid-May. The Dow Jones Industrial Average fell 2.09%, its biggest drop since October last year.</p><p>European stock markets generally fell by more than 2%, with the pan-European Stoxx 600 index closing down 2.3% for the fourth consecutive trading day. France's CAC40 index fell 2.54%; The FTSE 100 index fell 2.34%; Germany's DAX30 index fell 2.62%.</p><p>Market panic escalated sharply, with the VIX panic index once rising to 25.09, a new high in two months. It fell slightly at the close, but ultimately closed up 21.95%. Investors are turning to safe-haven assets. U.S. 10-year Treasury Bond were snapped up, causing yields to plummet by 4.86% to 1.207%.</p><p><img src=\"https://static.tigerbbs.com/fddc0b0ea75f0f82442b924cf9ca267c\" tg-width=\"1269\" tg-height=\"603\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">VIX hourly chart, source: Investing.com</p><p><b>Is the US stock market bull market over?</b></p><p>Recently, we have repeatedly mentioned the risk of a correction in US stocks. For details, please refer to \"Stop being blindly optimistic, Wall Street has already started secretly shorting US stocks\", \"Does the plunge in US Treasury yields indicate an imminent US stock market crash?\", and \"US stocks may plummet by 50%!\" We have consistently emphasized that the US stock market faces two major risks: the threat of the Delta variant virus and the Federal Reserve's tightening of monetary policy.</p><p>Changes in the pandemic are always an unknown factor. The spread of variant viruses could destroy the efforts made by previous countries at any time. However, countries cannot maintain economic lockdowns for a long time, which is also detrimental to the economy. Therefore, it is believed that the pandemic will gradually improve only after the vaccination rate increases. However, to some extent, after last night's sharp drop, the market has digested the impact of the pandemic, and US stocks may even rebound tonight.</p><p>Although the impact of the pandemic may weaken, can the level of economic recovery in the United States support such high stock prices?</p><p>According to a report by the U.S. Business Cycle Measurement Council, approximately 22 million people in the United States lost their jobs after the pandemic began, but 2.8 million returned to work in May 2020, and about 15 million returned to work the following year.</p><p>The second quarter earnings season in the United States is currently underway, and 41 companies in the S&P 500 have already released their earnings reports. According to Refinity's data, 90% of them exceeded analysts' average expectations. Analysts now expect S&P 500 companies to report a 72% year-over-year increase in earnings for the April-June quarter, significantly higher than the 54% forecast at the beginning of the quarter. If the company's performance meets expectations, it can support the current stock price to some extent.</p><p>As for the Federal Reserve, it has previously stated that inflation is temporary and will maintain its current policy unchanged. We all know that the Federal Reserve's rate hike or tightening of monetary policy will impact the US stock market, and the current dovish stance of the Fed is beneficial to the stock market. If the pandemic gets out of control, the Federal Reserve will only ease its policies further, so the Fed's factors can be ignored for the time being.</p><p>However, in the medium to long term, the Federal Reserve will always follow the path of normalizing monetary policy, and rate hike and reducing bond purchases are inevitable, which will always be a hidden danger to the US stock market.</p><p><b>Are US stocks overvalued?</b></p><p>We can compare US stocks and A-shares. The Dow Jones Industrial Average currently has an average P/E of 29 and a price-to-book ratio of 6.7. The S&P 500 has a P/E of 32 and a price-to-book ratio of 4.6. Nasdaq has a P/E of 48 and a price-to-book ratio of 6.1. In contrast, the P/E of the Shanghai Composite Index is 14 times and the price-to-book ratio is 1.5 times, while the P/E of the Hong Kong Hang Seng Index is only 13 times and the price-to-book ratio is only 1.2 times.</p><p>This shows that the valuation of US stocks is already very high to a certain extent, especially the Nasdaq index, while our Shanghai Composite Index is undervalued and considered a value haven.</p><p>Although the US earnings report is currently quite impressive, and although the US economic recovery looks promising, with the Federal Reserve's rate hike looming large and the Delta virus looming large, everything will be in serious doubt.</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>Is the US stock market crash a possibility of a first-round exit? The real show is yet to come.</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\">\nIs the US stock market crash a possibility of a first-round exit? The real show is yet to come.\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\">2021-07-20 19:56</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Monday, European and American stock markets suffered a widespread sell-off as a surge in COVID-19 cases triggered market concerns about the global economy, with investors worried that another lockdown might be imposed, which would slow the economic recovery.</p><p><b>Global COVID-19 cases surge</b></p><p>According to a Reuters data analysis, the average number of new COVID-19 cases per day in the United States has tripled over the past 30 days as the average daily number of hospitalizations has increased by 21% from 16,000 to more than 19,000. Last week's death toll increased by 25% compared to the previous seven days, averaging 250 deaths per day.</p><p>The situation in Europe is also not optimistic. France announced on the 19th that it had entered the fourth wave of the epidemic, and Germany's infection rate has risen for the 11th consecutive day.</p><p>Besides China, the epidemic situation in Asia is also worsening in countries such as Myanmar, Indonesia, and India.</p><p><b>Global stock markets experienced a night of panic</b></p><p>With the outbreak of the pandemic, the market has cast doubt on the economic recovery in the second half of the year, leading to a sell-off in the stock market. The Nasdaq Composite Index fell 1.06%; The S&P 500 fell 1.59%, with the S&P 500 and Nasdaq recording their biggest drops since mid-May. The Dow Jones Industrial Average fell 2.09%, its biggest drop since October last year.</p><p>European stock markets generally fell by more than 2%, with the pan-European Stoxx 600 index closing down 2.3% for the fourth consecutive trading day. France's CAC40 index fell 2.54%; The FTSE 100 index fell 2.34%; Germany's DAX30 index fell 2.62%.</p><p>Market panic escalated sharply, with the VIX panic index once rising to 25.09, a new high in two months. It fell slightly at the close, but ultimately closed up 21.95%. Investors are turning to safe-haven assets. U.S. 10-year Treasury Bond were snapped up, causing yields to plummet by 4.86% to 1.207%.</p><p><img src=\"https://static.tigerbbs.com/fddc0b0ea75f0f82442b924cf9ca267c\" tg-width=\"1269\" tg-height=\"603\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">VIX hourly chart, source: Investing.com</p><p><b>Is the US stock market bull market over?</b></p><p>Recently, we have repeatedly mentioned the risk of a correction in US stocks. For details, please refer to \"Stop being blindly optimistic, Wall Street has already started secretly shorting US stocks\", \"Does the plunge in US Treasury yields indicate an imminent US stock market crash?\", and \"US stocks may plummet by 50%!\" We have consistently emphasized that the US stock market faces two major risks: the threat of the Delta variant virus and the Federal Reserve's tightening of monetary policy.</p><p>Changes in the pandemic are always an unknown factor. The spread of variant viruses could destroy the efforts made by previous countries at any time. However, countries cannot maintain economic lockdowns for a long time, which is also detrimental to the economy. Therefore, it is believed that the pandemic will gradually improve only after the vaccination rate increases. However, to some extent, after last night's sharp drop, the market has digested the impact of the pandemic, and US stocks may even rebound tonight.</p><p>Although the impact of the pandemic may weaken, can the level of economic recovery in the United States support such high stock prices?</p><p>According to a report by the U.S. Business Cycle Measurement Council, approximately 22 million people in the United States lost their jobs after the pandemic began, but 2.8 million returned to work in May 2020, and about 15 million returned to work the following year.</p><p>The second quarter earnings season in the United States is currently underway, and 41 companies in the S&P 500 have already released their earnings reports. According to Refinity's data, 90% of them exceeded analysts' average expectations. Analysts now expect S&P 500 companies to report a 72% year-over-year increase in earnings for the April-June quarter, significantly higher than the 54% forecast at the beginning of the quarter. If the company's performance meets expectations, it can support the current stock price to some extent.</p><p>As for the Federal Reserve, it has previously stated that inflation is temporary and will maintain its current policy unchanged. We all know that the Federal Reserve's rate hike or tightening of monetary policy will impact the US stock market, and the current dovish stance of the Fed is beneficial to the stock market. If the pandemic gets out of control, the Federal Reserve will only ease its policies further, so the Fed's factors can be ignored for the time being.</p><p>However, in the medium to long term, the Federal Reserve will always follow the path of normalizing monetary policy, and rate hike and reducing bond purchases are inevitable, which will always be a hidden danger to the US stock market.</p><p><b>Are US stocks overvalued?</b></p><p>We can compare US stocks and A-shares. The Dow Jones Industrial Average currently has an average P/E of 29 and a price-to-book ratio of 6.7. The S&P 500 has a P/E of 32 and a price-to-book ratio of 4.6. Nasdaq has a P/E of 48 and a price-to-book ratio of 6.1. In contrast, the P/E of the Shanghai Composite Index is 14 times and the price-to-book ratio is 1.5 times, while the P/E of the Hong Kong Hang Seng Index is only 13 times and the price-to-book ratio is only 1.2 times.</p><p>This shows that the valuation of US stocks is already very high to a certain extent, especially the Nasdaq index, while our Shanghai Composite Index is undervalued and considered a value haven.</p><p>Although the US earnings report is currently quite impressive, and although the US economic recovery looks promising, with the Federal Reserve's rate hike looming large and the Delta virus looming large, everything will be in serious doubt.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/96819b78df36696eeccbf03ebd7c466d","relate_stocks":{".DJI":"道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195550175","content_text":"周一，因新冠病例激增引发了市场对全球经济的担忧，欧美股市惨遭大范围抛售，投资者担心或将再次实施停摆措施，这将令经济复苏将放缓。\n全球新冠病例激增\n根据路透的一项数据分析，过去30天里，因每日平均住院人数从1.6万人增加了21%，达到逾1.9万人，美国平均每天的新增新冠病例数增加了两倍。上周的死亡人数比前七天增加了25%，平均每天有250人死亡。\n欧洲疫情也很不乐观，法国19日宣布进入第四轮疫情，德国感染率已连续第11天出现上升。\n亚洲除中国外，缅甸、印尼、印度等国家疫情也在进一步恶化。\n全球股市惊魂一夜\n随着疫情的爆发，市场对下半年经济复苏存疑，股市遭到抛售。美国纳斯达克综合指数指数下跌1.06%；美国标准普尔500指数下跌1.59%，标普500指数和纳斯达克指数录得5月中以来最大跌幅；道琼斯工业平均指数下跌2.09%，创去年10月以来最大跌幅。\n欧洲股市更是普遍下跌2%以上，泛欧斯托克600指数连续四个交易日收跌，下跌2.3%；法国CAC40指数下跌2.54%；英国富时100指数跌2.34%；德国DAX30指数跌2.62%。\n一时间，市场恐慌情绪急剧升温，VIX恐慌指数一度冲高至25.09，创两个月来新高，尾盘稍有回落，最终收涨21.95%。投资者纷纷转向避险资产。美国十年期国债遭到疯抢，收益率大跌4.86%，至1.207%。\nVIX小时图，来源：Investing.com\n美股牛市是否终结？\n近期，我们多次提及美股有回调的风险，详情可以参看“不要再盲目乐观了，华尔街已经开始偷偷做空美股了”、“美债收益率暴跌暗示美股崩盘在即？”、“美股或将暴跌50%！”等。我们一直强调美股面临着两大风险，其一为Delta变种病毒的威胁，其二为美联储缩紧货币政策。\n疫情的变化始终是一个未知的因素，变种病毒的传播随时可能将之前各国所做的努力付之一炬，但是各国又不可能长期的保持经济封锁，这对经济也不利，所以只有等待疫苗接种率的提升后，相信疫情会逐步好转。不过，一定程度上讲，经过昨晚的一轮暴跌后，市场对疫情的影响已经有所消化，今晚美股甚至可能出现反弹。\n虽然疫情的影响可能会减弱，但是美国的经济复苏程度支撑的起如此高昂的股价吗？\n据美国商业周期测定委员会报告显示，疫情开始后，美国约有2200万人失业，但是在2020年5月就有280万人重返工作岗位，在接下来的一年里约有1,500万人恢复了工作。\n目前美国第二季财报季正在进行中，标普500指数成份股企业中有41家已经公布财报。根据路孚特数据，其中90%超出了分析师的平均预期。分析师现在预计，标普500指数成分股企业4-6月季度的盈利料同比增长72%，大大高于季度初预测的54%。假如与预期一致的话，企业的业绩一定程度上是可以支撑目前的股价。\n至于美联储方面，此前一直宣称通胀是暂时的，将维持目前的政策不变。我们都知道，美联储加息或者缩紧货币政策将对美国股市造成冲击，目前较为鸽派的美联储是对股市有利的。假如疫情失控的话，美联储只会更加的宽松，所以暂时可以不考虑美联储的因素。\n但是中长期来讲，美联储始终会走上货币政策正常化的道路，加息和缩减购债是势在必行的，这对美股始终是一个隐患。\n美股高估了吗？\n我们可以用美股和A股做一个比较。目前道琼斯工业指数的平均市盈率为29倍，市净率为6.7倍；标普500指数的市盈率为32倍，市净率为4.6倍；纳斯达克的市盈率为48倍，市净率为6.1倍。而对比上证指数的市盈率为14倍，市净率为1.5倍，香港恒生指数的市盈率更是只有13倍，市净率仅为1.2倍。\n由此可见，一定程度上美股的估值已经是非常高了，特别是纳斯达克指数，而我们的上证指数估值较低，属于价值洼地。\n虽然美国的财报暂时比较亮眼，虽然美国的经济复苏看起来很美，但是在远有美联储加息虎视眈眈，近有Delta病毒环伺之下，所有的一切都将打上大大的问号。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178373945,"gmtCreate":1626789759687,"gmtModify":1703765262656,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178373945","repostId":"2152695265","repostType":4,"isVote":1,"tweetType":1,"viewCount":4649,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121795530,"gmtCreate":1624491877320,"gmtModify":1703838080226,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121795530","repostId":"2145136560","repostType":4,"repost":{"id":"2145136560","kind":"highlight","pubTimestamp":1624471016,"share":"https://ttm.financial/m/news/2145136560?lang=en_US&edition=fundamental","pubTime":"2021-06-24 01:56","market":"hk","language":"zh","title":"Bitcoin has broken through key technical levels; Sister Wood bought Gray Trust and Coinbase at the bottom.","url":"https://stock-news.laohu8.com/highlight/detail?id=2145136560","media":"华尔街见闻","summary":"别人恐惧时她又双叒贪婪了！Ark系列ETF昨日增持近21.5万股Coinbase和100万股灰度比特币信托，持有Coinbase总价值逾10亿美元，持有灰度信托共850万股成相关持仓最大ETF。从交投逻辑可知，Ark投资主要利用市场下跌而抄底。","content":"<p>As Bitcoin fell below $29,000 on Tuesday, briefly erasing all gains this year, Cathie Wood's Ark Invest series ETFs, known as the \"Queen of the Bull Market,\" are aggressively buying up Gray Bitcoin Trust and Coinbase stocks.</p><p>Data shows that Ark's flagship fund, the Innovation ETF (ticker symbol ARKK), took advantage of yesterday's slump in Bitcoin and related stocks to increase its holdings of Coinbase, the world's largest cryptocurrency exchange, by nearly 215,000 shares.</p><p>Meanwhile, Ark Next Generation Internet ETF (ticker ARKW) increased its holdings by an additional 1 million shares of Grayscale Bitcoin Trust (ticker GBTC), worth approximately $29.3 million, the world's largest Bitcoin Trust.</p><p>This brings the total number of Coinbase shares held by the Ark Series ETF to 4.7 million, representing approximately 2% of Coinbase's fully diluted 261.3 million shares, making it one of the company's major external shareholders.<b>Based on Tuesday's closing price, \"Sister Wood\" holds over $1.04 billion worth of Coinbase shares.</b></p><p><b>Moreover, ARKW is the largest ETF in the market holding Grayscale Bitcoin Trust, with a total of 8.5 million shares.</b>The second-largest holder of this Bitcoin trust on the market is the Amplify Transformation Data Sharing ETF (trading code BLOK), but it only holds 212,000 shares of the grayscale trust.</p><p><b>Trading logic shows that \"Sister Wood\"'s Ark investment mainly takes advantage of market declines to buy at the bottom.</b>Bitcoin once halved from its all-time high of nearly $65,000, as did Grayscale Bitcoin Trust, and Coinbase fell nearly 35% from its high in the two months since its listing.</p><p>On Wednesday, Bitcoin rebounded 18% from yesterday's low, briefly climbing back above $34,000. U.S. stocks fell slightly back above $33,000 after midday, rising 4% in 24 hours. Most mainstream cryptocurrencies rose, but some analysts say the driving force behind the rise is unclear, and cryptocurrencies have always been highly volatile.<img src=\"https://static.tigerbbs.com/eb83e0e22211f6e038eaffb1f5f66b46\" tg-width=\"695\" tg-height=\"511\" referrerpolicy=\"no-referrer\">A \"basket of stocks\" related to Bitcoin also rebounded collectively today.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It rose nearly 5%, and Square rose nearly 2%, both near two-month highs. Grayscale Bitcoin Trust rose by more than 6% at its highest point, breaking away from its low level this year, and has continued to decline overall since the beginning of the year. Coinbase rose more than 2%, still near its lowest level since its IPO. The aforementioned stocks are all major holdings of \"Sister Wood\".</p><p>ARKK, the flagship innovation ETF under \"Sister Wood,\" rose more than 2%, approaching a near two-month high since April 28. ARKW, which holds a large amount of Grayscale Bitcoin Trust, also rose 2%, and ARKF, another fintech innovation ETF that holds a large amount of Coinbase, rose 1.4%, both near two-month highs.<img src=\"https://static.tigerbbs.com/4d5869ceeb6a2f7a0291e99083ed7531\" tg-width=\"713\" tg-height=\"511\" referrerpolicy=\"no-referrer\"></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin has broken through key technical levels; Sister Wood bought Gray Trust and Coinbase at the bottom.</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\">\nBitcoin has broken through key technical levels; Sister Wood bought Gray Trust and Coinbase at the bottom.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-24 01:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As Bitcoin fell below $29,000 on Tuesday, briefly erasing all gains this year, Cathie Wood's Ark Invest series ETFs, known as the \"Queen of the Bull Market,\" are aggressively buying up Gray Bitcoin Trust and Coinbase stocks.</p><p>Data shows that Ark's flagship fund, the Innovation ETF (ticker symbol ARKK), took advantage of yesterday's slump in Bitcoin and related stocks to increase its holdings of Coinbase, the world's largest cryptocurrency exchange, by nearly 215,000 shares.</p><p>Meanwhile, Ark Next Generation Internet ETF (ticker ARKW) increased its holdings by an additional 1 million shares of Grayscale Bitcoin Trust (ticker GBTC), worth approximately $29.3 million, the world's largest Bitcoin Trust.</p><p>This brings the total number of Coinbase shares held by the Ark Series ETF to 4.7 million, representing approximately 2% of Coinbase's fully diluted 261.3 million shares, making it one of the company's major external shareholders.<b>Based on Tuesday's closing price, \"Sister Wood\" holds over $1.04 billion worth of Coinbase shares.</b></p><p><b>Moreover, ARKW is the largest ETF in the market holding Grayscale Bitcoin Trust, with a total of 8.5 million shares.</b>The second-largest holder of this Bitcoin trust on the market is the Amplify Transformation Data Sharing ETF (trading code BLOK), but it only holds 212,000 shares of the grayscale trust.</p><p><b>Trading logic shows that \"Sister Wood\"'s Ark investment mainly takes advantage of market declines to buy at the bottom.</b>Bitcoin once halved from its all-time high of nearly $65,000, as did Grayscale Bitcoin Trust, and Coinbase fell nearly 35% from its high in the two months since its listing.</p><p>On Wednesday, Bitcoin rebounded 18% from yesterday's low, briefly climbing back above $34,000. U.S. stocks fell slightly back above $33,000 after midday, rising 4% in 24 hours. Most mainstream cryptocurrencies rose, but some analysts say the driving force behind the rise is unclear, and cryptocurrencies have always been highly volatile.<img src=\"https://static.tigerbbs.com/eb83e0e22211f6e038eaffb1f5f66b46\" tg-width=\"695\" tg-height=\"511\" referrerpolicy=\"no-referrer\">A \"basket of stocks\" related to Bitcoin also rebounded collectively today.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It rose nearly 5%, and Square rose nearly 2%, both near two-month highs. Grayscale Bitcoin Trust rose by more than 6% at its highest point, breaking away from its low level this year, and has continued to decline overall since the beginning of the year. Coinbase rose more than 2%, still near its lowest level since its IPO. The aforementioned stocks are all major holdings of \"Sister Wood\".</p><p>ARKK, the flagship innovation ETF under \"Sister Wood,\" rose more than 2%, approaching a near two-month high since April 28. ARKW, which holds a large amount of Grayscale Bitcoin Trust, also rose 2%, and ARKF, another fintech innovation ETF that holds a large amount of Coinbase, rose 1.4%, both near two-month highs.<img src=\"https://static.tigerbbs.com/4d5869ceeb6a2f7a0291e99083ed7531\" tg-width=\"713\" tg-height=\"511\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3633707\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/414360f2ef7b5c785cb936b4a9b53a44","relate_stocks":{"EBON":"亿邦国际","CAN":"嘉楠科技"},"source_url":"https://wallstreetcn.com/articles/3633707","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145136560","content_text":"在周二比特币下破2.9万美元并一度抹去今年以来全部涨幅之际，素有“牛市女皇”之称的“木头姐”Cathie Wood旗下Ark Invest系列ETF正大举抄底灰度比特币信托和Coinbase股票。\n数据显示，Ark旗舰基金——创新ETF（交易代码ARKK）利用昨日比特币及其相关个股的低迷，增持了近21.5万股Coinbase股票，后者为全球最大数字货币交易所。\n同时，Ark下一代互联网ETF（交易代码ARKW）额外增持了100万股灰度比特币信托（Grayscale Bitcoin Trust，交易代码GBTC），价值约2930万美元，后者为全球最大比特币信托。\n这令Ark系列ETF持有Coinbase的股票总数推升至470万股，约占Coinbase完全摊薄2.613亿股的2%，成为公司主要外部股东之一。若按周二收盘价计算，“木头姐”共持有的Coinbase价值逾10.4亿美元。\n而且，ARKW是市场上持有灰度比特币信托最大的ETF，共持有850万股。市面上持有该比特币信托排名第二高的是Amplify转型数据共享ETF（交易代码BLOK），但仅持有21.2万股灰度信托。\n从交投逻辑可知，“木头姐”的Ark投资主要利用市场下跌而抄底。比特币一度较其近6.5万美元的历史最高腰斩，灰度比特币信托也是如此，Coinbase则在上市两个月里从高位跌落近35%。\n周三，比特币从昨日低位反弹18%，一度重上3.4万美元，美股午盘后小幅回落至3.3万美元上方，24小时内涨4%。主流数字货币多数上涨，有分析称上涨动因不明，加密货币波动性一直很大。与比特币相关的“一揽子股票”今日也集体反弹。特斯拉涨近5%，Square涨近2%，均接近两个月高位。灰度比特币信托最高涨超6%，脱离年内低位，今年以来仍整体下跌。Coinbase涨超2%，仍接近上市来低位。上述个股都是“木头姐”持仓重头。\n“木头姐”旗下旗舰创新ETF ARKK涨超2%，接近4月28日以来的近两个月高位。大量持有灰度比特币信托的ARKW也涨2%，另一持有大量Coinbase的金融科技创新ETF ARKF涨1.4%，均接近两个月高位。","news_type":1,"symbols_score_info":{"BTCmain":0.9,"EBON":0.9,"XBTmain":0.9,"CAN":0.9}},"isVote":1,"tweetType":1,"viewCount":3365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121792572,"gmtCreate":1624491834696,"gmtModify":1703838078769,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/121792572","repostId":"2145139750","repostType":4,"repost":{"id":"2145139750","kind":"news","pubTimestamp":1624472100,"share":"https://ttm.financial/m/news/2145139750?lang=en_US&edition=fundamental","pubTime":"2021-06-24 02:15","market":"hk","language":"zh","title":"Comment: The death cross in Bitcoin may just be a short trap","url":"https://stock-news.laohu8.com/highlight/detail?id=2145139750","media":"新浪财经","summary":"彭博图表专家赵力表示，比特币的螺旋式下跌可能已经接近尾声。\n　　比特币本周短暂跌破3万美元大关，为2021年以来首次跌破该关口，并且几乎抹去了今年的所有涨幅。从4月份高点下跌超过50%之后，比特币的50日移动均线已经跌破200日移动均线，形成所谓死亡交叉的技术信号。\n　　自2010年以来，比特币已经有7次出现死亡交叉。平均而言，比特币在其后50天里回报率为34%，盈亏比率为5：2。\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：张玉洁 SF107","content":"<p>Zhao Li, a Bloomberg chart expert, said the downward spiral in Bitcoin may be nearing its end.</p><p>Bitcoin briefly fell below the $30,000 mark this week, the first time it has done so since 2021, and has almost erased all of its gains this year. After falling by more than 50% from its April high, Bitcoin' 50-day moving average has fallen below its 200-day moving average, forming a so-called death cross technical signal.</p><p>There have been seven death crossovers in Bitcoin since 2010. On average, Bitcoin returned 34% over the next 50 days, with a profit-loss ratio of 5:2.</p>","source":"sina","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>Comment: The death cross in Bitcoin may just be a short trap</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\">\nComment: The death cross in Bitcoin may just be a short trap\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-06-24 02:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Zhao Li, a Bloomberg chart expert, said the downward spiral in Bitcoin may be nearing its end.</p><p>Bitcoin briefly fell below the $30,000 mark this week, the first time it has done so since 2021, and has almost erased all of its gains this year. After falling by more than 50% from its April high, Bitcoin' 50-day moving average has fallen below its 200-day moving average, forming a so-called death cross technical signal.</p><p>There have been seven death crossovers in Bitcoin since 2010. On average, Bitcoin returned 34% over the next 50 days, with a profit-loss ratio of 5:2.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-06-24/doc-ikqcfnca2843806.shtml\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b73a4391d6b8bf3291eb4d137bd1dfc3","relate_stocks":{"EBON":"亿邦国际","CAN":"嘉楠科技"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-06-24/doc-ikqcfnca2843806.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2145139750","content_text":"彭博图表专家赵力表示，比特币的螺旋式下跌可能已经接近尾声。\n比特币本周短暂跌破3万美元大关，为2021年以来首次跌破该关口，并且几乎抹去了今年的所有涨幅。从4月份高点下跌超过50%之后，比特币的50日移动均线已经跌破200日移动均线，形成所谓死亡交叉的技术信号。\n自2010年以来，比特币已经有7次出现死亡交叉。平均而言，比特币在其后50天里回报率为34%，盈亏比率为5：2。","news_type":1,"symbols_score_info":{"XBTmain":0.9,"EBON":0.9,"BTCmain":0.9,"CAN":0.9}},"isVote":1,"tweetType":1,"viewCount":5235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166596182,"gmtCreate":1624016028646,"gmtModify":1703826613329,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/166596182","repostId":"1118210144","repostType":4,"isVote":1,"tweetType":1,"viewCount":4414,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187858709,"gmtCreate":1623750028801,"gmtModify":1704210409329,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187858709","repostId":"1139950361","repostType":4,"isVote":1,"tweetType":1,"viewCount":1486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104902389,"gmtCreate":1620348111741,"gmtModify":1704342286426,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/104902389","repostId":"1148265462","repostType":4,"isVote":1,"tweetType":1,"viewCount":1476,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355634729,"gmtCreate":1617066103261,"gmtModify":1704801474273,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355634729","repostId":"1157203601","repostType":4,"repost":{"id":"1157203601","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":1617065001,"share":"https://ttm.financial/m/news/1157203601?lang=en_US&edition=fundamental","pubTime":"2021-03-30 08:43","market":"us","language":"zh","title":"ByteDance is reportedly valued at $250 billion in secondary market transactions.","url":"https://stock-news.laohu8.com/highlight/detail?id=1157203601","media":"老虎资讯综合","summary":"3月30日，据彭博，知情人士透露，由于投资者对字节跳动的业务及其IPO前景充满信心，字节跳动在私有市场的估值已经超过2500亿美元。根据CB Insights的数据，字节跳动在上一轮融资时的估值达到1","content":"<p>On March 30, according to Bloomberg, sources familiar with the matter revealed that ByteDance's private market valuation has exceeded $250 billion due to investor confidence in its business and its IPO prospects. According to CB Insights, ByteDance's valuation reached $140 billion in its last round of financing.</p><p>One of the people familiar with the matter said the company was valued at approximately $200 billion in private market transactions a month ago. If calculated at $250 billion, ByteDance's valuation has already surpassed that of ExxonMobil and Coca-Cola.</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>ByteDance is reportedly valued at $250 billion in secondary market transactions.</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\">\nByteDance is reportedly valued at $250 billion in secondary market transactions.\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\">2021-03-30 08:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On March 30, according to Bloomberg, sources familiar with the matter revealed that ByteDance's private market valuation has exceeded $250 billion due to investor confidence in its business and its IPO prospects. According to CB Insights, ByteDance's valuation reached $140 billion in its last round of financing.</p><p>One of the people familiar with the matter said the company was valued at approximately $200 billion in private market transactions a month ago. If calculated at $250 billion, ByteDance's valuation has already surpassed that of ExxonMobil and Coca-Cola.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/57922dcc5f7a43f1fddaf18d1a519025","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157203601","content_text":"3月30日，据彭博，知情人士透露，由于投资者对字节跳动的业务及其IPO前景充满信心，字节跳动在私有市场的估值已经超过2500亿美元。根据CB Insights的数据，字节跳动在上一轮融资时的估值达到1400亿美元。其中一位知情人士说，该公司一个月前在私有市场的交易估值大约达为2000亿美元。如果按照2500亿美元计算，字节跳动的估值已经超过埃克森美孚和可口可乐。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359030032,"gmtCreate":1616298288226,"gmtModify":1704792724825,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/359030032","repostId":"2121456431","repostType":4,"isVote":1,"tweetType":1,"viewCount":1525,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327660095,"gmtCreate":1616080587717,"gmtModify":1704790763233,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"Yy","listText":"Yy","text":"Yy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/327660095","repostId":"1141093943","repostType":4,"isVote":1,"tweetType":1,"viewCount":1558,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327684135,"gmtCreate":1616080473227,"gmtModify":1704790761758,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3579091027208131","authorIdStr":"3579091027208131"},"themes":[],"title":"","htmlText":"Yy","listText":"Yy","text":"Yy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/327684135","repostId":"1141093943","repostType":4,"isVote":1,"tweetType":1,"viewCount":1173,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":174715859,"gmtCreate":1627138856471,"gmtModify":1703484724515,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3579091027208131","idStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/174715859","repostId":"2153133933","repostType":4,"repost":{"id":"2153133933","kind":"news","pubTimestamp":1627094380,"share":"https://ttm.financial/m/news/2153133933?lang=en_US&edition=fundamental","pubTime":"2021-07-24 10:39","market":"us","language":"zh","title":"Behind the rumors of acquiring GlobalFoundries: Intel's chip manufacturing ambitions revealed","url":"https://stock-news.laohu8.com/highlight/detail?id=2153133933","media":"中国经营报","summary":"作为目前全球半导体产业中为数不多保留了芯片制造部门的龙头公司，英特尔近年来却在造芯环节开始落后于以芯片制造代工为核心业务的台积电，尤其是在先进制程方面，英特尔的7纳米工艺迟迟没有进展，台积电日前则在季度财报上宣布已通过5纳米工艺赚取了近三个季度10%的营收，同时还将在今年三季度试产3纳米工艺。","content":"<p>What may be the largest merger and acquisition plan in the global semiconductor industry in recent years has recently surfaced. On July 17, according to the Wall Street Journal, citing sources familiar with the matter,<a href=\"https://laohu8.com/S/INTC\">Intel</a>The company is currently exploring a $30 billion (approximately RMB 194 billion) acquisition of GlobalFoundries (commonly referred to as \"GlobalFoundries\" in the industry), which previously...<a href=\"https://laohu8.com/S/TSM\">TSMC</a>The deal, a global chip manufacturing giant on par with others, would be Intel's largest acquisition ever if it goes through.</p><p>However, the rumors were quickly denied by Grosvenor. On July 19, the CEO of GlobalFoundation stated that the news of acquisition talks with Intel was just speculation, and denied that he had engaged in acquisition discussions with the former, but would continue to seek an IPO. In response, a reporter from China Business Journal interviewed the head of Intel China, but the head of Intel China stated that he would not comment on this topic.</p><p>While this official response quickly cooled the public outcry surrounding this earth-shattering deal, there is growing evidence that Intel hopes to make a difference in the chip manufacturing field. Recently, the Financial Times, citing official Intel statements, confirmed that the company is planning to invest $20 billion (approximately RMB 129.6 billion) to build chip factories in several EU member states, and the company is currently lobbying to obtain EU support.</p><p>As one of the few leading companies in the global semiconductor industry that has retained its chip manufacturing division, Intel has begun to lag behind TSMC, whose core business is chip manufacturing, in recent years. In particular, in terms of advanced manufacturing processes, Intel's 7-nanometer process has not made progress. TSMC recently announced in its quarterly financial report that it has earned 10% of its revenue in the past three quarters through 5-nanometer processes, and will also begin trial production of 3-nanometer processes in the third quarter of this year.</p><p>Given this gap, whether Intel can ultimately succeed in acquiring GlobalFoundries seems to no longer affect the outside world's judgment that it will strive to return to the advanced ranks of chip manufacturing. The competitive landscape of the entire global semiconductor manufacturing field may also quietly enter a new phase, marked by the rumored acquisition of GlobalFoundries by Intel.</p><p><b>The probability of acquisition remains high.</b></p><p>Behind Intel's recent series of moves, Pat Gelsinger is seen as the core figure driving this round of decisions. He officially succeeded his predecessor Bob Swan as the company's CEO in February of this year. According to the Wall Street Journal, Bob Swann's departure was due to his ineffective efforts in advancing advanced manufacturing processes, which caused him to fall behind his main competitors.<a href=\"https://laohu8.com/S/AMD\">AMD</a>Related.</p><p>Therefore, less than a month after taking office, Kissinger made a high-profile announcement of Intel's \"IDM 2.0\" vision. IDM refers to semiconductor companies that cover all aspects from design to manufacturing. Because chip manufacturing requires extremely high capital investment in technology research and development, only a very few giants have the capability to undertake this role. In the field of semiconductor manufacturing, currently only Intel,<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>A few companies follow the IDM model, while others adopt a dedicated contract manufacturing model like TSMC.</p><p>In this newly drawn IDM2.0 blueprint, the foundry business has become Intel's most important future strategy. In his speech, Kissinger stated that Intel plans to become a major foundry capacity supplier in the United States and Europe, serving customers worldwide. To this end, Intel will invest $20 billion to build two new factories in Arizona, open an independent foundry division, and collaborate with third-party foundries.</p><p>It is worth noting that when announcing the list of partners, Kissinger directly mentioned TSMC,<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>And the name GlobalFoundry, and these three companies currently occupy the top three positions in the global chip foundry industry. According to data from market research firm Topology Industry Research Institute, TSMC held a 49.2% market share in the global wafer foundry sector in the second quarter of 2019, followed by Samsung with 18.0% and GlobalFoundry with 8.7%.</p><p>Public information shows that GlobalFoundation was founded in March 2009. Its predecessor was the wafer fab of AMD, Intel's old rival in the US domestic market. Due to years of losses, it was eventually sold by AMD. It was established after investment from the Abu Dhabi Venture Capital Fund (ATIC) in the UAE, specializing in chip foundry business.</p><p>However, in recent years, due to the slow progress of advanced process research and development, GlobalFoundry has gradually lost out in the competition with TSMC and Samsung, and its market share has repeatedly declined. This has directly led to a shrinking of its revenue and profit scale, making it less able to invest enough funds in the arms race of chip manufacturing processes, thus forming an a vicious circle.</p><p>According to Luo Guozhao, director of the China Lab at the CHIP Global Test Center, although Intel has encountered difficulties in recent years, its stable financial performance is still at the level of a giant. On the other hand, although it is also weak in cutting-edge manufacturing processes, GlobalFoundry has a stable production capacity supply and a market share of nearly 8% above 10 nanometers.</p><p>In addition, the reporter noted that in terms of macroeconomic policy, at the end of March this year, the US government announced a $50 billion local revitalization plan for the semiconductor industry, which will be used to invest in chip manufacturing and research and development to accelerate the return of the manufacturing supply chain to the United States. Luo Guozhao stated that under this policy, no company with an American background is more suitable for Intel than GlobalFoundation, and if Intel completes the acquisition and focuses on contract manufacturing, it will undoubtedly receive more subsidies from the $50 billion.</p><p>Ji Wei, a senior semiconductor analyst from Taiwan, also told reporters that through the Intel acquisition, the United States will have more capital to put pressure on TSMC, thereby forcing TSMC to increase its investment in the United States.</p><p>Given all these realities, Intel, which aims to rise in the foundry industry, and GlobalFoundry, which needs funding, were able to exchange what they needed in the transaction, which may be the main reason for the acquisition rumors.</p><p>“Given that everyone gets what they need, if Intel offers a reasonable price, it’s hard to say that the major shareholder in the Middle East will definitely refuse,” Luo Guozhao said. He added that GlobalFoundation’s own wishes are one thing, but the decision on whether to sell is not in its hands. Therefore, the possibility of an acquisition remains high, and at this stage, it would be a win-win decision for both parties.</p><p><b>Catching up with Samsung and TSMC</b></p><p>With the implementation of the IDM2.0 strategy, Intel's goal of catching up has become increasingly clear. If Intel can successfully capture GlobalFoundation's market share, it will only have two competitors left: Samsung and TSMC.</p><p>According to reporters, although Intel's 7-nanometer process has not yet been launched, while Samsung and TSMC have both announced that they will enter the 3-nanometer process this year, in reality, the performance of a chip depends on the number of transistors. Therefore, the lower the process, the more advanced it is, because a larger number of transistors can be accommodated per unit area. Public information shows that TSMC's 5-nanometer chip has a transistor density of approximately 173 million chips per square millimeter, Samsung's 3-nanometer chip has a transistor density of approximately 170 million chips per square millimeter, and Intel's planned 7-nanometer chip has a transistor density of 180 million chips per square millimeter.</p><p>This also means that although Intel is two generations behind in manufacturing processes, the gap between Intel and Samsung and TSMC in terms of technology is much smaller than imagined. Once 7-nanometer technology matures, Intel will have the strength to surpass Samsung and catch up with TSMC.</p><p>Of particular note is the latest Q2 2021 financial report, which shows that although TSMC's revenue growth reached a new high, its profits were slightly lower than expected, and its estimated gross profit margin for the third quarter was also lower than expected.</p><p>Given the delicate situation, Kissinger also stated in a recent media interview that Intel will take two years to catch up with TSMC. However, Luo Guozhao believes that Intel will not be a competitor to TSMC in the short term. After all, TSMC's 3-nanometer process is still far ahead, and catching up in terms of manufacturing processes is not something that can be achieved overnight. This is why Intel chose to cooperate with TSMC.</p><p>According to TSMC CEO Wei Zhejia, the 3-nanometer process will increase transistor density by 70% compared to the 5-nanometer process, and mass production may begin in the second half of next year. Foreign media, citing sources, reported that<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Intel will be the main customer for this production line.</p><p>According to Ji Wei, Intel still has many problems to solve before surpassing TSMC. Even if it attempts to acquire GlobalFoundry, from the perspective of acquisition resistance, GlobalFoundry has been in poor shape in recent years, and its influence has been...<a href=\"https://laohu8.com/S/SMI\">SMIC</a>with<a href=\"https://laohu8.com/S/UMC\">United Mobile</a>As the gap gradually widens, it will be even more difficult to shake TSMC. “GlobalFoundries is currently operating at a loss, and the acquisition at this time will put some pressure on its financial statements. If Intel really wants to acquire GlobalFoundries, it may need to have sufficient reasons to convince investors to agree,” Ji Wei said.</p>","source":"tencent","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>Behind the rumors of acquiring GlobalFoundries: Intel's chip manufacturing ambitions revealed</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\">\nBehind the rumors of acquiring GlobalFoundries: Intel's chip manufacturing ambitions revealed\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中国经营报</strong><span class=\"h-time small\">2021-07-24 10:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What may be the largest merger and acquisition plan in the global semiconductor industry in recent years has recently surfaced. On July 17, according to the Wall Street Journal, citing sources familiar with the matter,<a href=\"https://laohu8.com/S/INTC\">Intel</a>The company is currently exploring a $30 billion (approximately RMB 194 billion) acquisition of GlobalFoundries (commonly referred to as \"GlobalFoundries\" in the industry), which previously...<a href=\"https://laohu8.com/S/TSM\">TSMC</a>The deal, a global chip manufacturing giant on par with others, would be Intel's largest acquisition ever if it goes through.</p><p>However, the rumors were quickly denied by Grosvenor. On July 19, the CEO of GlobalFoundation stated that the news of acquisition talks with Intel was just speculation, and denied that he had engaged in acquisition discussions with the former, but would continue to seek an IPO. In response, a reporter from China Business Journal interviewed the head of Intel China, but the head of Intel China stated that he would not comment on this topic.</p><p>While this official response quickly cooled the public outcry surrounding this earth-shattering deal, there is growing evidence that Intel hopes to make a difference in the chip manufacturing field. Recently, the Financial Times, citing official Intel statements, confirmed that the company is planning to invest $20 billion (approximately RMB 129.6 billion) to build chip factories in several EU member states, and the company is currently lobbying to obtain EU support.</p><p>As one of the few leading companies in the global semiconductor industry that has retained its chip manufacturing division, Intel has begun to lag behind TSMC, whose core business is chip manufacturing, in recent years. In particular, in terms of advanced manufacturing processes, Intel's 7-nanometer process has not made progress. TSMC recently announced in its quarterly financial report that it has earned 10% of its revenue in the past three quarters through 5-nanometer processes, and will also begin trial production of 3-nanometer processes in the third quarter of this year.</p><p>Given this gap, whether Intel can ultimately succeed in acquiring GlobalFoundries seems to no longer affect the outside world's judgment that it will strive to return to the advanced ranks of chip manufacturing. The competitive landscape of the entire global semiconductor manufacturing field may also quietly enter a new phase, marked by the rumored acquisition of GlobalFoundries by Intel.</p><p><b>The probability of acquisition remains high.</b></p><p>Behind Intel's recent series of moves, Pat Gelsinger is seen as the core figure driving this round of decisions. He officially succeeded his predecessor Bob Swan as the company's CEO in February of this year. According to the Wall Street Journal, Bob Swann's departure was due to his ineffective efforts in advancing advanced manufacturing processes, which caused him to fall behind his main competitors.<a href=\"https://laohu8.com/S/AMD\">AMD</a>Related.</p><p>Therefore, less than a month after taking office, Kissinger made a high-profile announcement of Intel's \"IDM 2.0\" vision. IDM refers to semiconductor companies that cover all aspects from design to manufacturing. Because chip manufacturing requires extremely high capital investment in technology research and development, only a very few giants have the capability to undertake this role. In the field of semiconductor manufacturing, currently only Intel,<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>A few companies follow the IDM model, while others adopt a dedicated contract manufacturing model like TSMC.</p><p>In this newly drawn IDM2.0 blueprint, the foundry business has become Intel's most important future strategy. In his speech, Kissinger stated that Intel plans to become a major foundry capacity supplier in the United States and Europe, serving customers worldwide. To this end, Intel will invest $20 billion to build two new factories in Arizona, open an independent foundry division, and collaborate with third-party foundries.</p><p>It is worth noting that when announcing the list of partners, Kissinger directly mentioned TSMC,<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>And the name GlobalFoundry, and these three companies currently occupy the top three positions in the global chip foundry industry. According to data from market research firm Topology Industry Research Institute, TSMC held a 49.2% market share in the global wafer foundry sector in the second quarter of 2019, followed by Samsung with 18.0% and GlobalFoundry with 8.7%.</p><p>Public information shows that GlobalFoundation was founded in March 2009. Its predecessor was the wafer fab of AMD, Intel's old rival in the US domestic market. Due to years of losses, it was eventually sold by AMD. It was established after investment from the Abu Dhabi Venture Capital Fund (ATIC) in the UAE, specializing in chip foundry business.</p><p>However, in recent years, due to the slow progress of advanced process research and development, GlobalFoundry has gradually lost out in the competition with TSMC and Samsung, and its market share has repeatedly declined. This has directly led to a shrinking of its revenue and profit scale, making it less able to invest enough funds in the arms race of chip manufacturing processes, thus forming an a vicious circle.</p><p>According to Luo Guozhao, director of the China Lab at the CHIP Global Test Center, although Intel has encountered difficulties in recent years, its stable financial performance is still at the level of a giant. On the other hand, although it is also weak in cutting-edge manufacturing processes, GlobalFoundry has a stable production capacity supply and a market share of nearly 8% above 10 nanometers.</p><p>In addition, the reporter noted that in terms of macroeconomic policy, at the end of March this year, the US government announced a $50 billion local revitalization plan for the semiconductor industry, which will be used to invest in chip manufacturing and research and development to accelerate the return of the manufacturing supply chain to the United States. Luo Guozhao stated that under this policy, no company with an American background is more suitable for Intel than GlobalFoundation, and if Intel completes the acquisition and focuses on contract manufacturing, it will undoubtedly receive more subsidies from the $50 billion.</p><p>Ji Wei, a senior semiconductor analyst from Taiwan, also told reporters that through the Intel acquisition, the United States will have more capital to put pressure on TSMC, thereby forcing TSMC to increase its investment in the United States.</p><p>Given all these realities, Intel, which aims to rise in the foundry industry, and GlobalFoundry, which needs funding, were able to exchange what they needed in the transaction, which may be the main reason for the acquisition rumors.</p><p>“Given that everyone gets what they need, if Intel offers a reasonable price, it’s hard to say that the major shareholder in the Middle East will definitely refuse,” Luo Guozhao said. He added that GlobalFoundation’s own wishes are one thing, but the decision on whether to sell is not in its hands. Therefore, the possibility of an acquisition remains high, and at this stage, it would be a win-win decision for both parties.</p><p><b>Catching up with Samsung and TSMC</b></p><p>With the implementation of the IDM2.0 strategy, Intel's goal of catching up has become increasingly clear. If Intel can successfully capture GlobalFoundation's market share, it will only have two competitors left: Samsung and TSMC.</p><p>According to reporters, although Intel's 7-nanometer process has not yet been launched, while Samsung and TSMC have both announced that they will enter the 3-nanometer process this year, in reality, the performance of a chip depends on the number of transistors. Therefore, the lower the process, the more advanced it is, because a larger number of transistors can be accommodated per unit area. Public information shows that TSMC's 5-nanometer chip has a transistor density of approximately 173 million chips per square millimeter, Samsung's 3-nanometer chip has a transistor density of approximately 170 million chips per square millimeter, and Intel's planned 7-nanometer chip has a transistor density of 180 million chips per square millimeter.</p><p>This also means that although Intel is two generations behind in manufacturing processes, the gap between Intel and Samsung and TSMC in terms of technology is much smaller than imagined. Once 7-nanometer technology matures, Intel will have the strength to surpass Samsung and catch up with TSMC.</p><p>Of particular note is the latest Q2 2021 financial report, which shows that although TSMC's revenue growth reached a new high, its profits were slightly lower than expected, and its estimated gross profit margin for the third quarter was also lower than expected.</p><p>Given the delicate situation, Kissinger also stated in a recent media interview that Intel will take two years to catch up with TSMC. However, Luo Guozhao believes that Intel will not be a competitor to TSMC in the short term. After all, TSMC's 3-nanometer process is still far ahead, and catching up in terms of manufacturing processes is not something that can be achieved overnight. This is why Intel chose to cooperate with TSMC.</p><p>According to TSMC CEO Wei Zhejia, the 3-nanometer process will increase transistor density by 70% compared to the 5-nanometer process, and mass production may begin in the second half of next year. Foreign media, citing sources, reported that<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Intel will be the main customer for this production line.</p><p>According to Ji Wei, Intel still has many problems to solve before surpassing TSMC. Even if it attempts to acquire GlobalFoundry, from the perspective of acquisition resistance, GlobalFoundry has been in poor shape in recent years, and its influence has been...<a href=\"https://laohu8.com/S/SMI\">SMIC</a>with<a href=\"https://laohu8.com/S/UMC\">United Mobile</a>As the gap gradually widens, it will be even more difficult to shake TSMC. “GlobalFoundries is currently operating at a loss, and the acquisition at this time will put some pressure on its financial statements. If Intel really wants to acquire GlobalFoundries, it may need to have sufficient reasons to convince investors to agree,” Ji Wei said.</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=nesSN2021072410404779d73bc6&s=b\">中国经营报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"159813":"芯片","03086":"华夏纳指","INTC":"英特尔","09086":"华夏纳指-U"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021072410404779d73bc6&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2153133933","content_text":"一桩也许是近年来全球半导体业内最大的并购计划日前浮出水面。7月17日，据《华尔街日报》援引知情人士透露，英特尔正在研究以300亿美元（约合人民币1940亿元）的价格收购格罗方德（业界常简称为“格芯”），后者曾是与台积电齐名的全球芯片制造巨头，如果该笔交易成行，将成为英特尔有史以来最大的一笔收购。\n不过，传闻很快遭到格罗方德否认。7月19日，格罗方德CEO出面表示，与英特尔洽谈收购的消息只是推测而已，并否认与前者展开过收购方面的讨论，而是会继续寻求通过IPO方式实现上市。对此，《中国经营报》记者采访了英特尔中国区负责人，但对方表示对此话题不作回应。\n这一官方回应虽然迅速冷却了这笔有可能震动业界的惊天交易的舆论热度，但已有越来越多的证据显示，英特尔期冀在芯片制造领域有所作为。近日，英国《金融时报》引述英特尔官方说法证实，该公司正在计划投资200亿美元（约合人民币1296亿元）在多个欧盟成员国建造芯片工厂，目前该公司正在进行游说工作，以获得欧盟方面的支持。\n作为目前全球半导体产业中为数不多保留了芯片制造部门的龙头公司，英特尔近年来却在造芯环节开始落后于以芯片制造代工为核心业务的台积电，尤其是在先进制程方面，英特尔的7纳米工艺迟迟没有进展，台积电日前则在季度财报上宣布已通过5纳米工艺赚取了近三个季度10%的营收，同时还将在今年三季度试产3纳米工艺。\n如此差距之下，英特尔能否在收购格芯的进程中最终得手，似乎都已不影响外界对其将奋力重回芯片制造先进阵营的判断，而整个全球半导体制造领域的竞争格局，或也将以此次英特尔收购格芯传闻事件为标志，悄然进入新的态势。\n收购概率依然很高\n在英特尔近期连番动作背后，帕特·基辛格（Pat Gelsinger）被视为推动该轮决策的核心角色，他在今年2月正式接替了前任鲍勃·斯旺（Bob Swan）出任该公司的CEO。而据《华尔街日报》报道，鲍勃·斯旺出局的原因，正与其在推进先进制程方面不力导致落后主要竞争对手AMD有关。\n因此，履新不到一个月后，基辛格便高调对外宣布了英特尔的“IDM2.0”愿景。其中，IDM意指涵盖从设计到制造所有环节的半导体公司，由于芯片制造需要极高的资本投入技术研发，因此只有极少数巨头公司才有这一实力承担这一角色。在半导体制造领域，目前全球只有英特尔、三星等少数几家公司奉行IDM模式，其他则都采用台积电一类的专职代工模式。\n而在这张新绘制的IDM2.0蓝图中，代工业务也成为英特尔最重要的未来战略，基辛格在演讲中表示，英特尔计划成为美国和欧洲的主要代工产能供应商，为全球客户提供服务。为此，英特尔将投资200亿美元在亚利桑那州新建两家工厂、开设独立代工事务部门以及与第三方代工厂商进行合作。\n值得注意的是，在宣布合作名单时，基辛格直接点出了台积电、三星电子以及格罗方德的名字，而这三家企业正是占据目前全球芯片代工领域前三把交椅的主人。市场调研机构拓墣产业研究院数据显示，在全球晶圆代工领域，2019年第二季度台积电的市场份额为49.2%，紧随其后的为拥有18.0%份额的三星和8.7%的格罗方德。\n公开信息显示，格罗方德成立于2009年3月，其前身是英特尔在美国本土市场的老对手AMD的晶圆厂，因为连年亏损，最终被AMD脱手，经阿联酋阿布扎比创投基金 (ATIC) 注资后成立，专营芯片代工业务。\n但近年来，由于先进制程研发的进程并不顺利，格罗方德在与台积电、三星的竞争中逐渐败下阵来，市场份额一再下降，这也直接导致了其营收与利润规模的萎缩，使其更无足够的资金投入到芯片制程的军备竞赛上，从而形成恶性循环。\n在CHIP全球测试中心中国实验室主任罗国昭看来，英特尔虽然近年来遭遇困境，但稳定的财务表现仍是巨头级别；另一方面，虽然在尖端制程上同样乏力，但格罗方德在10纳米以上有稳定的产能供应与近8%的市场份额。\n此外，记者注意到，宏观政策上，今年3月底，美国官方公布了一轮规模达500亿美元的半导体产业本土振兴计划，用以投入芯片制造与研发，加速制造供应链重返美国。罗国昭表示，在这一政策下，没有比格罗方德这一美国背景的公司更适合英特尔，而英特尔如果完成收购并发力代工，无疑也能从500亿美元中获得更多的补贴。\n来自中国台湾的半导体资深分析师季维也向记者表示，美国透过英特尔这一收购案，能拥有更多向台积电施压的资本，以此逼迫台积电加大在美国的投资。\n以上种种现实因素，意欲在代工领域完成崛起的英特尔，以及需要资金补充的格罗方德，双方能够在交易中互取所需，这或许是收购绯闻传出的主要原因。\n“各取所需下，如果英特尔给出一个合理的价格，很难说中东的大股东就一定会拒绝。”罗国昭表示，格罗方德自身的意愿是一回事，但是否出售的决定权并不在其手中。因此，收购的可能性依然很高，而且在现阶段而言，这对双方都会是一个双赢的决定。\n赶超三星、台积电\n随着IDM2.0战略的践行，英特尔发力追赶的目标也已越来越清晰。如果能够成功吃下格罗方德的市场份额，英特尔前方将会只剩下三星与台积电两个对手。\n据记者了解，虽然目前英特尔的7纳米尚未推出，而三星、台积电均已宣布年内进军3纳米制程，但在实际中，一款芯片的性能取决于晶体管的数量，所以制程工艺越低越先进，因为单位面积内能容纳更多数量的晶体管。而公开信息显示，台积电5纳米芯片晶体管密度约为1.73亿颗/平方毫米，三星3纳米芯片晶体管密度约为1.7亿颗/平方毫米，英特尔规划中的7纳米芯片则达到了1.8亿颗/平方毫米。\n这也意味着，虽然落后两代制程，但英特尔在工艺方面与三星、台积电的差距比想象中要小得多，一旦7纳米技术成熟，英特尔也将有超越三星直追台积电的实力。\n尤其值得注意的是，最新的2021年二季度财报显示，虽然台积电营收增长再创新高，但获利略逊于预期，第三季预估的毛利率也不如预期。\n微妙的形势对比下，基辛格也在日前接受媒体采访时表示，英特尔将花两年时间赶上台积电。不过，罗国昭认为，短期内英特尔还不会是台积电的对手，毕竟台积电的3纳米工艺还是遥遥领先，而且制程方面的赶超不是朝夕之功，这也是英特尔选择与台积电合作的原因。\n据台积电CEO魏哲家此前透露，同5纳米工艺相比，3纳米工艺将使晶体管密度提升70%，并可能在明年下半年开始量产。外媒援引消息人士透露，苹果与英特尔将会是这一产线的主要客户。\n而在季维看来，在超过台积电之前，英特尔要解决的问题还有很多，即使其试图推进收购格罗方德，如果从收购阻力层面观察，格罗方德这几年的状况欠佳，在影响力上，被中芯国际与联电逐渐拉开差距，更无法撼动台积电。“格罗方德目前也还存在亏损，此时收购会在财务报表上造成一些压力，英特尔若真要收购格罗方德，可能要有充分的理由说服投资人同意。”季维表示。","news_type":1,"symbols_score_info":{"159813":0.9,"INTC":0.9,"03086":0.9,"09086":0.9}},"isVote":1,"tweetType":1,"viewCount":5137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121792572,"gmtCreate":1624491834696,"gmtModify":1703838078769,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3579091027208131","idStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/121792572","repostId":"2145139750","repostType":4,"repost":{"id":"2145139750","kind":"news","pubTimestamp":1624472100,"share":"https://ttm.financial/m/news/2145139750?lang=en_US&edition=fundamental","pubTime":"2021-06-24 02:15","market":"hk","language":"zh","title":"Comment: The death cross in Bitcoin may just be a short trap","url":"https://stock-news.laohu8.com/highlight/detail?id=2145139750","media":"新浪财经","summary":"彭博图表专家赵力表示，比特币的螺旋式下跌可能已经接近尾声。\n　　比特币本周短暂跌破3万美元大关，为2021年以来首次跌破该关口，并且几乎抹去了今年的所有涨幅。从4月份高点下跌超过50%之后，比特币的50日移动均线已经跌破200日移动均线，形成所谓死亡交叉的技术信号。\n　　自2010年以来，比特币已经有7次出现死亡交叉。平均而言，比特币在其后50天里回报率为34%，盈亏比率为5：2。\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：张玉洁 SF107","content":"<p>Zhao Li, a Bloomberg chart expert, said the downward spiral in Bitcoin may be nearing its end.</p><p>Bitcoin briefly fell below the $30,000 mark this week, the first time it has done so since 2021, and has almost erased all of its gains this year. After falling by more than 50% from its April high, Bitcoin' 50-day moving average has fallen below its 200-day moving average, forming a so-called death cross technical signal.</p><p>There have been seven death crossovers in Bitcoin since 2010. On average, Bitcoin returned 34% over the next 50 days, with a profit-loss ratio of 5:2.</p>","source":"sina","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>Comment: The death cross in Bitcoin may just be a short trap</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\">\nComment: The death cross in Bitcoin may just be a short trap\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-06-24 02:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Zhao Li, a Bloomberg chart expert, said the downward spiral in Bitcoin may be nearing its end.</p><p>Bitcoin briefly fell below the $30,000 mark this week, the first time it has done so since 2021, and has almost erased all of its gains this year. After falling by more than 50% from its April high, Bitcoin' 50-day moving average has fallen below its 200-day moving average, forming a so-called death cross technical signal.</p><p>There have been seven death crossovers in Bitcoin since 2010. On average, Bitcoin returned 34% over the next 50 days, with a profit-loss ratio of 5:2.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-06-24/doc-ikqcfnca2843806.shtml\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b73a4391d6b8bf3291eb4d137bd1dfc3","relate_stocks":{"EBON":"亿邦国际","CAN":"嘉楠科技"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-06-24/doc-ikqcfnca2843806.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2145139750","content_text":"彭博图表专家赵力表示，比特币的螺旋式下跌可能已经接近尾声。\n比特币本周短暂跌破3万美元大关，为2021年以来首次跌破该关口，并且几乎抹去了今年的所有涨幅。从4月份高点下跌超过50%之后，比特币的50日移动均线已经跌破200日移动均线，形成所谓死亡交叉的技术信号。\n自2010年以来，比特币已经有7次出现死亡交叉。平均而言，比特币在其后50天里回报率为34%，盈亏比率为5：2。","news_type":1,"symbols_score_info":{"XBTmain":0.9,"EBON":0.9,"BTCmain":0.9,"CAN":0.9}},"isVote":1,"tweetType":1,"viewCount":5235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104902389,"gmtCreate":1620348111741,"gmtModify":1704342286426,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3579091027208131","idStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/104902389","repostId":"1148265462","repostType":4,"isVote":1,"tweetType":1,"viewCount":1476,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178373945,"gmtCreate":1626789759687,"gmtModify":1703765262656,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3579091027208131","idStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178373945","repostId":"2152695265","repostType":4,"isVote":1,"tweetType":1,"viewCount":4649,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166596182,"gmtCreate":1624016028646,"gmtModify":1703826613329,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3579091027208131","idStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/166596182","repostId":"1118210144","repostType":4,"isVote":1,"tweetType":1,"viewCount":4414,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811591775,"gmtCreate":1630331061197,"gmtModify":1676530271372,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3579091027208131","idStr":"3579091027208131"},"themes":[],"title":"","htmlText":"66666666","listText":"66666666","text":"66666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/811591775","repostId":"2163007700","repostType":4,"repost":{"id":"2163007700","kind":"highlight","pubTimestamp":1630320517,"share":"https://ttm.financial/m/news/2163007700?lang=en_US&edition=fundamental","pubTime":"2021-08-30 18:48","market":"sh","language":"zh","title":"Earning nearly 700 million yuan a day! The three major oil companies delivered their best performance in seven years in the first half of 2021.","url":"https://stock-news.laohu8.com/highlight/detail?id=2163007700","media":"格隆汇","summary":"在需求增加和油价上行的拉动下，“三桶油”实现油气产量、价格双双增长。","content":"<p>Recently,<a href=\"https://laohu8.com/S/601857\">PetroChina</a>、<a href=\"https://laohu8.com/S/600028\">Sinopec</a>、<a href=\"https://laohu8.com/S/00883\">China National Offshore Oil</a>They have all released their first-half results. In the first half of 2021, the three major oil companies earned nearly 700 million yuan a day, the best level for the same period in seven years.</p><p><img src=\"https://static.tigerbbs.com/90074fcf5007d85e47620889c3f80903\" tg-width=\"900\" tg-height=\"500\" referrerpolicy=\"no-referrer\">On the morning of August 30, Sinopec held its 2021 interim results briefing.</p><p>The meeting showed that Sinopec achieved operating revenue of 1.26 trillion yuan in the first half of the year, a year-on-year increase of 22.12%; The net profit attributable to the parent company turned a loss of 22.882 billion yuan in the same period last year into a profit, reaching 39.153 billion yuan.</p><p>With this, the three major oil companies have completed their first-half performance reports.</p><p>Besides Sinopec, the other two companies of the \"three major oil companies\"—PetroChina and China National Offshore Oil Corporation (CNOOC)—also showed impressive financial reports.</p><p>In the first half of 2021, PetroChina achieved operating revenue of 1.20 trillion yuan, a year-on-year increase of 28.80%; Net profit attributable to the parent company turned a loss into a profit, reaching 53.036 billion yuan. China National Offshore Oil Corporation (CNOOC) achieved operating revenue of 17.027 billion yuan, a year-on-year increase of 47.68%; Net profit was 5.159 billion yuan, a year-on-year increase of 221.00%.</p><p>According to the Securities Times, the three major oil companies achieved a combined net profit of 125.518 billion yuan in the first half of 2021, earning approximately 693 million yuan per day, the best level for the same period in nearly seven years.<img src=\"https://static.tigerbbs.com/82005c210539543650c192bc45e3f958\" tg-width=\"686\" tg-height=\"514\" referrerpolicy=\"no-referrer\"></p><p>According to Sinopec's semi-annual report, a key reason for the first-half performance growth was the increase in oil and gas demand.<a href=\"https://laohu8.com/S/00001\">Changhe</a>International oil prices are rising.</p><p>In the first half of 2021, the global economy gradually recovered, China's economy continued to recover steadily, and its GDP increased by 12.7% year-on-year. Domestic oil and gas demand is growing rapidly, with apparent consumption of natural gas and refined oil products increasing by 17.5% and 5.7% year-on-year, respectively.</p><p>Meanwhile, international crude oil prices continued to fluctuate upwards, with the average spot price of Platts Brent crude oil at $65.23 per barrel, up 62.8% year-on-year.</p><p><img src=\"https://static.tigerbbs.com/3c9800e55d980d55c18dd8b5fb00af46\" tg-width=\"830\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>In the first half of the year, the price trend of domestic refined oil products was basically consistent with the changes in international oil prices. The government has adjusted domestic gasoline and diesel prices 10 times, with the price of standard gasoline increasing by 1,405 yuan/ton and the price of standard diesel by 1,355 yuan/ton.</p><p>Driven by increased demand and rising oil prices, the three major oil companies have achieved growth in both oil and gas production and prices.</p><p>Among them, Sinopec's total distribution volume of refined oil products reached 109 million tons, a year-on-year increase of 2%; Natural gas sales reached 14.8 billion cubic meters, a year-on-year increase of 11.4%, with an average selling price of 1,521 yuan per thousand cubic meters, a year-on-year increase of 11.1%.</p><p>PetroChina's sales of refined oil products reached 80.339 million tons, a year-on-year increase of 4.9%; Natural gas sales increased by 11.9% year-on-year, while prices increased by 22.6% year-on-year.</p><p>It is worth noting that all three major oil companies are increasing their investment to develop new energy businesses in response to the \"dual carbon policy\".</p><p><img src=\"https://static.tigerbbs.com/5704fc9aba53386628b581843ed21dd5\" tg-width=\"500\" tg-height=\"333\" referrerpolicy=\"no-referrer\"></p><p>At its earnings conference on August 30, Sinopec disclosed that it has proposed the goal of building China's number one hydrogen energy company. In the future, it will accelerate the development of the hydrogen energy industry as the company's core new energy business, promote the construction of hydrogen refueling stations and oil-hydrogen combined stations, and develop renewable energy hydrogen production. At a briefing, Sinopec President Ma Yongsheng answered a question from a reporter from the Shanghai Securities News, stating that the company has built a total of 20 hydrogen refueling stations, 10 are under construction, 30 are preparing to start construction, and 20 have been approved for construction. These stations are mainly concentrated in key regions such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Pearl River Delta, Shandong, Henan, Sichuan-Chongqing, and Central China.</p><p>In its semi-annual report, China National Petroleum Corporation (CNPC) also disclosed that it will optimize its oil and gas product structure, strengthen natural gas exploration and development, actively implement the national overall work plan for \"carbon peaking and carbon neutrality,\" organize the formulation of a \"dual carbon\" target action plan, continue to carry out the recovery of evacuated natural gas, accelerate the implementation of new energy projects, actively explore the construction of carbon storage bases, increase research on carbon dioxide recovery and transportation technologies, promote the pilot project of \"rooftop photovoltaics\" and plan the transformation of \"zero-carbon\" storage stations.</p><p>China National Offshore Oil Corporation (CNOOC) also announced the launch of a carbon neutrality plan, the establishment of a new energy department, the promotion of shore power projects, and the improvement of oil and gas field production At the interim results press conference on August 19, Chairman Wang Dongjin stated that during the 14th Five-Year Plan period, CNOOC plans to acquire no less than 5 million kilowatts of onshore photovoltaic and wind power resources, with business investment accounting for approximately 5%-10% of the company's total investment. At the same time, the company plans to increase the proportion of natural gas in total oil and gas production from the current 20% to 35%.</p><p>On August 30, the stock prices of the three major oil companies all rose. By the close of trading, Hong Kong stocks<a href=\"https://laohu8.com/S/00386\">China Petrochemical Corporation</a>The stock surged over 5%, with A-shares Sinopec and PetroChina rising 1.95% and 2.75% respectively, while Hong Kong-listed CNOOC rose 0.78%.</p>","source":"gelonghui_highlight","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>Earning nearly 700 million yuan a day! The three major oil companies delivered their best performance in seven years in the first half of 2021.</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\">\nEarning nearly 700 million yuan a day! The three major oil companies delivered their best performance in seven years in the first half of 2021.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">格隆汇</strong><span class=\"h-time small\">2021-08-30 18:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently,<a href=\"https://laohu8.com/S/601857\">PetroChina</a>、<a href=\"https://laohu8.com/S/600028\">Sinopec</a>、<a href=\"https://laohu8.com/S/00883\">China National Offshore Oil</a>They have all released their first-half results. In the first half of 2021, the three major oil companies earned nearly 700 million yuan a day, the best level for the same period in seven years.</p><p><img src=\"https://static.tigerbbs.com/90074fcf5007d85e47620889c3f80903\" tg-width=\"900\" tg-height=\"500\" referrerpolicy=\"no-referrer\">On the morning of August 30, Sinopec held its 2021 interim results briefing.</p><p>The meeting showed that Sinopec achieved operating revenue of 1.26 trillion yuan in the first half of the year, a year-on-year increase of 22.12%; The net profit attributable to the parent company turned a loss of 22.882 billion yuan in the same period last year into a profit, reaching 39.153 billion yuan.</p><p>With this, the three major oil companies have completed their first-half performance reports.</p><p>Besides Sinopec, the other two companies of the \"three major oil companies\"—PetroChina and China National Offshore Oil Corporation (CNOOC)—also showed impressive financial reports.</p><p>In the first half of 2021, PetroChina achieved operating revenue of 1.20 trillion yuan, a year-on-year increase of 28.80%; Net profit attributable to the parent company turned a loss into a profit, reaching 53.036 billion yuan. China National Offshore Oil Corporation (CNOOC) achieved operating revenue of 17.027 billion yuan, a year-on-year increase of 47.68%; Net profit was 5.159 billion yuan, a year-on-year increase of 221.00%.</p><p>According to the Securities Times, the three major oil companies achieved a combined net profit of 125.518 billion yuan in the first half of 2021, earning approximately 693 million yuan per day, the best level for the same period in nearly seven years.<img src=\"https://static.tigerbbs.com/82005c210539543650c192bc45e3f958\" tg-width=\"686\" tg-height=\"514\" referrerpolicy=\"no-referrer\"></p><p>According to Sinopec's semi-annual report, a key reason for the first-half performance growth was the increase in oil and gas demand.<a href=\"https://laohu8.com/S/00001\">Changhe</a>International oil prices are rising.</p><p>In the first half of 2021, the global economy gradually recovered, China's economy continued to recover steadily, and its GDP increased by 12.7% year-on-year. Domestic oil and gas demand is growing rapidly, with apparent consumption of natural gas and refined oil products increasing by 17.5% and 5.7% year-on-year, respectively.</p><p>Meanwhile, international crude oil prices continued to fluctuate upwards, with the average spot price of Platts Brent crude oil at $65.23 per barrel, up 62.8% year-on-year.</p><p><img src=\"https://static.tigerbbs.com/3c9800e55d980d55c18dd8b5fb00af46\" tg-width=\"830\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>In the first half of the year, the price trend of domestic refined oil products was basically consistent with the changes in international oil prices. The government has adjusted domestic gasoline and diesel prices 10 times, with the price of standard gasoline increasing by 1,405 yuan/ton and the price of standard diesel by 1,355 yuan/ton.</p><p>Driven by increased demand and rising oil prices, the three major oil companies have achieved growth in both oil and gas production and prices.</p><p>Among them, Sinopec's total distribution volume of refined oil products reached 109 million tons, a year-on-year increase of 2%; Natural gas sales reached 14.8 billion cubic meters, a year-on-year increase of 11.4%, with an average selling price of 1,521 yuan per thousand cubic meters, a year-on-year increase of 11.1%.</p><p>PetroChina's sales of refined oil products reached 80.339 million tons, a year-on-year increase of 4.9%; Natural gas sales increased by 11.9% year-on-year, while prices increased by 22.6% year-on-year.</p><p>It is worth noting that all three major oil companies are increasing their investment to develop new energy businesses in response to the \"dual carbon policy\".</p><p><img src=\"https://static.tigerbbs.com/5704fc9aba53386628b581843ed21dd5\" tg-width=\"500\" tg-height=\"333\" referrerpolicy=\"no-referrer\"></p><p>At its earnings conference on August 30, Sinopec disclosed that it has proposed the goal of building China's number one hydrogen energy company. In the future, it will accelerate the development of the hydrogen energy industry as the company's core new energy business, promote the construction of hydrogen refueling stations and oil-hydrogen combined stations, and develop renewable energy hydrogen production. At a briefing, Sinopec President Ma Yongsheng answered a question from a reporter from the Shanghai Securities News, stating that the company has built a total of 20 hydrogen refueling stations, 10 are under construction, 30 are preparing to start construction, and 20 have been approved for construction. These stations are mainly concentrated in key regions such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Pearl River Delta, Shandong, Henan, Sichuan-Chongqing, and Central China.</p><p>In its semi-annual report, China National Petroleum Corporation (CNPC) also disclosed that it will optimize its oil and gas product structure, strengthen natural gas exploration and development, actively implement the national overall work plan for \"carbon peaking and carbon neutrality,\" organize the formulation of a \"dual carbon\" target action plan, continue to carry out the recovery of evacuated natural gas, accelerate the implementation of new energy projects, actively explore the construction of carbon storage bases, increase research on carbon dioxide recovery and transportation technologies, promote the pilot project of \"rooftop photovoltaics\" and plan the transformation of \"zero-carbon\" storage stations.</p><p>China National Offshore Oil Corporation (CNOOC) also announced the launch of a carbon neutrality plan, the establishment of a new energy department, the promotion of shore power projects, and the improvement of oil and gas field production At the interim results press conference on August 19, Chairman Wang Dongjin stated that during the 14th Five-Year Plan period, CNOOC plans to acquire no less than 5 million kilowatts of onshore photovoltaic and wind power resources, with business investment accounting for approximately 5%-10% of the company's total investment. At the same time, the company plans to increase the proportion of natural gas in total oil and gas production from the current 20% to 35%.</p><p>On August 30, the stock prices of the three major oil companies all rose. By the close of trading, Hong Kong stocks<a href=\"https://laohu8.com/S/00386\">China Petrochemical Corporation</a>The stock surged over 5%, with A-shares Sinopec and PetroChina rising 1.95% and 2.75% respectively, while Hong Kong-listed CNOOC rose 0.78%.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.gelonghui.com/p/483735\">格隆汇</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/154f468d2e230d7341262184a2d804cd","relate_stocks":{"DGAZ":"三倍做空天然气ETN(VelocityShares)","UGAZ":"三倍做多天然气ETN(VelocityShares)","UNG":"美国天然气基金"},"source_url":"http://www.gelonghui.com/p/483735","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2163007700","content_text":"近日，中国石油、中国石化、中国海洋石油等纷纷披露上半年业绩，2021年上半年，“三桶油”加起来日赚近7亿，创下七年同期最好水平。\n8月30日上午，中国石化举行2021年中期业绩说明会。\n会议显示，中国石化上半年实现营业收入1.26万亿元，同比增长22.12%；而归母净利润则从去年同期亏损的228.82亿元扭亏为盈，达到391.53亿元。\n至此，“三桶油”上半年业绩“答卷”已全部交出。\n除了中国石化外，“三桶油”的另两家企业——中国石油和中国海洋石油同样也展示出了亮眼的财报。\n2021年上半年，中国石油实现营业收入1.20万亿元，同比增长28.80%；归母净利润扭亏为盈，达到530.36亿元。中国海洋石油则实现营业收入170.27亿元，同比增长47.68%；净利润51.59亿元，同比增长221.00%。\n据证券时报报道，“三桶油”2021年上半年合计实现净利润1255.18亿元，日赚约6.93亿元，创下近七年以来同期最好水平。\n据中国石化半年报披露，上半年业绩增长的重要原因在于油气需求增长和国际油价上行。\n2021年上半年，全球经济逐步复苏，中国经济持续稳定恢复，国内生产总值同比增长12.7%。境内油气需求快速增长，其中天然气和成品油的表观消费量同比增长17.5%和5.7%。\n同时，国际原油价格持续震荡上行，普氏布伦特原油现货均价为65.23美元/桶，同比上涨62.8%。\n\n上半年国内成品油的价格走势与国际市场油价变化基本趋于一致。国家10次调整国内汽油、柴油价格，汽油标准品价格累计上调 1405 元/吨，柴油标准品价格累计上调 1355 元/吨。\n在需求增加和油价上行的拉动下，“三桶油”实现油气产量、价格双双增长。\n其中，中国石化成品油总经销量达1.09亿吨，同比增长2%；销售天然气 148 亿立方米，同比 11.4%，销售均价1521元/千立方米，同比增长11.1%。\n中国石油成品油销量达8033.9万吨，同比增长4.9%；天然气销量同比增长11.9%，价格同比增长22.6%。\n值得注意的是，“三桶油”均在投资加码，为响应“双碳政策”布局新能源业务。\n\n中国石化在8月30日的业绩说明会上披露，公司已提出建设中国第一氢能公司的目标，未来将把氢能产业作为公司新能源的核心业务加快发展，推进加氢站建设及油氢合建站建设，发展可再生能源制氢。中国石化总裁马永生在说明会上答上海证券报记者问称，公司已累计建成加氢站20座，在建10座，准备开工30座，审批报建20座，主要集中在京津冀、长三角、珠三角、山东、河南、川渝、华中等重点地区。\n中国石油也在半年报中披露，将优化油气产品结构，加强天然气勘探开发，积极落实国家“碳达峰、碳中和”整体工作安排，组织编制“双碳”目标行动计划，持续开展放空天然气回收，加快新能源项目的实施落地，积极探索碳封存基地建设，加大对二氧化碳回收利用和运输技术研究，推进“屋顶光伏” 试点、规划“零碳”库站转型。\n而中国海洋石油同样宣布启动碳中和规划，成立新能源部，推进岸电工程，提高油气田生产水平。董事长汪东进在8月19日中期业绩发布会上表示，“十四五”期间，中国海油计划获取陆上光伏和风电资源不低于500万千瓦，业务投资占比约为公司总投资的5%-10%。同时，公司计划将天然气占油气总产量的比例从目前的20%提升至35%。\n8月30日，“三桶油”股价纷纷上涨。截至收盘，港股中国石油化工股份大涨超5%，A股中国石化和中国石油分别上涨1.95%和2.75%，港股中国海洋石油上涨0.78%。","news_type":1,"symbols_score_info":{"NGmain":0.9,"QGmain":0.9,"UGAZ":0.9,"UNG":0.9,"DGAZ":0.9}},"isVote":1,"tweetType":1,"viewCount":3350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834210537,"gmtCreate":1629805691429,"gmtModify":1676530136540,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3579091027208131","idStr":"3579091027208131"},"themes":[],"title":"","htmlText":"66666","listText":"66666","text":"66666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834210537","repostId":"1157355451","repostType":4,"repost":{"id":"1157355451","kind":"news","pubTimestamp":1629799640,"share":"https://ttm.financial/m/news/1157355451?lang=en_US&edition=fundamental","pubTime":"2021-08-24 18:07","market":"us","language":"zh","title":"Even after Ant Group's solemn declaration, its IPO remains a long way off.","url":"https://stock-news.laohu8.com/highlight/detail?id=1157355451","media":"BT财经","summary":"蚂蚁集团估值一度碾压五大银行，如上市将成为全球最大的IPO，但却在2020年底被暂停上市，最近更曝出有落马官员入股的传言。\n\n8月21日，中央纪委国家监委网站公布了对杭州市委书记、浙江省省委常委周江勇","content":"<p>Ant Group's valuation once surpassed that of the five major banks, and if it went public, it would have become the world's largest IPO. However, its listing was suspended at the end of 2020, and recently there have been rumors that a fallen official had invested in the company.<b>On August 21, the website of the Central Commission for Discipline Inspection and the National Supervisory Commission published an investigation notice against Zhou Jiangyong, Secretary of the Hangzhou Municipal Party Committee and member of the Standing Committee of the Zhejiang Provincial</b>At the same time, it was also announced that the relationship between government and business in Hangzhou would be cleaned up and rectified.</p><p>There were rumors that Zhou participated in a \"surprise\" investment in a company before its IPO. Ant Group urgently denied the rumors after the incident, prompting some netizens to jokingly say, \"If you don't deny the rumors, you won't guess who it is.\"</p><p><img src=\"https://static.tigerbbs.com/9d98e7768f8401f1a59411d6dcb21cbc\" tg-width=\"566\" tg-height=\"415\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As can be seen from Ant Group's solemn statement, the main content of Ant Group's refutation was that there were rumors that Ant Group had violated regulations by having relevant personnel rush to invest in shares during the previous IPO process, and that Ant Group would take legal measures to protect its legitimate rights and interests, claiming that it would pursue the criminal liability of those who spread the rumors.</p><p>It's important to note that prior to Ant Group's denial, the public knew very little about the so-called rumors.<b>Ant Group's solemn statement only intensified the situation, even raising questions about whether there was any silver in this place.</b>。</p><p><img src=\"https://static.tigerbbs.com/71d8e8e35e0d5bfbf7c8b5712494bbd0\" tg-width=\"640\" tg-height=\"1172\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Climbing high, falling badly</b></p><p>Ant Group was once valued at HK$3.6 trillion, equivalent to RMB3 trillion. If it successfully lists, it will break the record for the world's largest IPO and surpass Kweichow Moutai to become the king of A-shares. During the same period, the market capitalization of the Industrial and Commercial Bank of China was only about half that of Ant Group, at only 1.6 trillion yuan, while the market capitalization of the Agricultural Bank of China was about one-third. Ant Group became the focus of heated discussions, and the topic of concern was why Ant Group could have a higher market capitalization than the five major banks.</p><p>Ant Group's business can be roughly divided into the following sections. The first section is the payment function that is well-known and has been used for a long time, now called digital payment and merchant services. This is Alibaba Group's earliest digital payment service, with Alipay accounting for 36% of Ant Group's total revenue, reaching 26 billion yuan.</p><p>Ant Group's main business is its second segment, digital fintech services, which involve selling technical service fees. Its main customers are not individuals, but financial institutions such as banks, securities companies, fund companies, trust companies, and insurance companies. This segment once accounted for the majority of Ant Group's total revenue, reaching as high as 60% in the first half of 2020, or about 46 billion yuan.</p><p>The third business segment is innovation and other businesses. Innovations include high-end technologies such as blockchain and databases, as well as big data technologies used by banks to verify the loan creditworthiness of micro and small enterprises. There are also projects like Ant Forest.</p><p>What makes Ant Group potentially surpass Kweichow Moutai to become the king of A-shares and the largest IPO in history is its intellectual property rights. Ant Group's strong intellectual property rights include 26 independently developed core technology products and 18 world-class and national-level core technology awards. These are the key to Ant Group's recognition. As for its patents and trademarks, they number as high as 26,279 and 8,569 respectively, covering 40 countries and regions around the world. It also owns 369 non-design and trade secrets, 3,927 domain names, and 677 copyrights. These intellectual property rights belong to top technology companies both domestically and globally.</p><p>Many investors have high expectations for Ant Group's IPO, especially Ant Group employees who dream of the day they get rich overnight. However, an announcement from the Shanghai Stock Exchange on November 3, 2020, shattered these people's dreams. The announcement stated that \"the actual controller, chairman, and general manager of Ant Group were jointly held for regulatory talks by relevant departments, and Ant Group reported major events such as changes in the financial technology regulatory environment in which it operates. This major event may cause Ant Group to fail to meet the IPO conditions or information disclosure requirements. Therefore, it has been decided to postpone Ant Group's listing.\"</p><p><img src=\"https://static.tigerbbs.com/70fa1ef3428e8433000d1e9a6d3776cf\" tg-width=\"518\" tg-height=\"590\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>This is the official response. In fact, even before the official response, there were claims that Ant Group could not go public at all. The root of this matter may lie in the \"attack on banks\" by Jack Ma. On October 24, 2020, at the second Bund Financial Summit in Shanghai, Jack Ma delivered a passionate 21-minute speech. Some analysts say that it may have been this speech that caused Ant Group to postpone its IPO, and it may have been postponed indefinitely, because in the speech, Jack Ma openly questioned banks and regulatory agencies around the world and \"attacked\" banks.</p><p>Regardless, the suspension of listing will have a huge impact on Ant Group. Analysts point out that Ant Group may become the \"most expensive company\" that falls the most the higher it climbs.</p><p><b>A \"loan shark\" company?</b></p><p>Ant Group's IPO prospectus shows that Alipay's monthly active users increased from 499 million in 2017 to 711 million in 2020, with over 1 billion annual active users and 80 million monthly active merchants. Such a large payment user base gives Ant Group ample confidence.</p><p>However, among the digital fintech platforms that Ant Group relies on most, it is subdivided into micro-loan technology, wealth management technology, and insurance technology. They all look quite high-end, like tech companies, and their suffixes all contain the word \"technology,\" but in reality, Ant Group...<b>The core businesses are microloans, wealth management product sales, and insurance sales.</b></p><p><img src=\"https://static.tigerbbs.com/54ca908d4c5c6d63f252f732aa1c287e\" tg-width=\"650\" tg-height=\"434\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Among microloans, wealth management products, and insurance, microloans had the largest revenue, with revenue of 28.6 billion yuan in the first half of 2020, accounting for 62% of the total revenue of digital finance technology platforms. The COVID-19 pandemic severely damaged the domestic economy, and many people had to rely on borrowing to make a living after losing their jobs. Ant Group's Huabei became a favorite among young people, which led to Ant Group's growth rate of 38% in the first half of 2020. In the context of a sluggish real economy, Ant Group became a new favorite of many investors.</p><p>Financial professional Shi Baogang believes that \"Ant Financial's operating model involves debt and asset securitization, such as packaging securities into wealth management products and issuing loans in a cyclical manner, creating a 100-fold leverage. This high leverage means high risk. What's even more remarkable is that Ant Group can achieve 'getting something for nothing' with zero cost when operating loans, thereby achieving high profits. Through the back-and-forth operation of bonds and asset securitization, cross-purchases, there is almost no inherent risk, because the risk has been transferred to the investors who purchase the relevant wealth management products at each level.\"</p><p>Shi Baogang pointed out: \"To put it bluntly, Ant Group is a 'loan shark' company. Even though they use various technological names and own a large number of intellectual property rights, the nature of keeping high profits for themselves and throwing high risks to society determines their nature.\"</p><p>According to the prospectus, when Sesame Credit is excellent enough, the daily interest rate for Jiebei users is around 0.04%, which is equivalent to an annualized interest rate of 14.6%. However, if Sesame Credit is not excellent enough, the annualized interest rate is very likely to be above 18%. This annual interest rate signals that Ant Group is teetering on the edge of the boundaries defined by loan sharks, because according to relevant laws, any amount exceeding four times the loan market prime rate is not protected by law. During the same period, the loan market prime rate was 3.85%, and the upper limit of 4 times should be 15.4%. Some people specifically tried using Jiebei's loan interest rate and found that the final interest rate was 18.2%. You can judge for yourself whether it is a loan shark.</p><p><img src=\"https://static.tigerbbs.com/c6346ce560fe998e0520bc0da62c7b64\" tg-width=\"409\" tg-height=\"515\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In addition,<b>Ant Group also acts as an intermediary, cooperating with banks to provide loans. The main customers of these loans are micro and small business owners. The daily interest rate is about 0.03% and the annualized rate is 10.95%. Ant Group does not need to invest a single penny to take a cut of the interest from the banks.</b></p><p>This capital-free operation has resulted in high profits and high growth. The micro-loan business has consistently accounted for nearly 40% of Ant Group's total revenue, and the proportion is constantly increasing.</p><p><b>Ant Forest's \"pseudo-public welfare\"</b></p><p>When Ant Group launched Ant Forest, many people's first impressions were positive. However, it was later realized that while things were good, Ant Forest's original intention might not actually be to do public welfare. Its positioning as a commercial project has begun to be questioned by the outside world.</p><p>Let's briefly analyze the operating model of Ant Forest. The initial model of \"Ant Forest\" was roughly to collect energy, steal the energy of friends, and attract the participation of a large number of people on social media. After a certain amount of energy was accumulated, people could choose to plant trees in Northwest China or other areas with harsh environments. At this point, \"Ant Forest\" will provide a number that corresponds to the tree and uses real-name registration. This move has drawn a positive response from many people.</p><p><img src=\"https://static.tigerbbs.com/0e8b83fbf1391f84647e3cd7a3417607\" tg-width=\"594\" tg-height=\"443\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In today's increasingly environmentally conscious world, these people believe that planting a tree named after themselves is equivalent to contributing to environmental protection. As environmental protection concepts take root in people's hearts, Ant Forest is gaining more popularity.</p><p><img src=\"https://static.tigerbbs.com/7b8fe4e78cdc275472a4a14ba2ce71c6\" tg-width=\"624\" tg-height=\"394\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Many people support Ant Forest because of the public welfare and environmental protection promoted by Ant Group. Ant Group has taken advantage of these people's simple mindset to inject more traffic into Ant Group.</p><p>However, most of the philanthropists involved in Ant Forest are unaware that the market targeted by Ant Forest is called the carbon trading market. This term is extremely unfamiliar to the general public, but it represents a huge market that could reach trillions in the future. Many prominent figures abroad have already set their sights on this huge market, with former and current world's richest men Bill Gates and Elon Musk having long been involved in this field. Take Elon Musk as an example. He has already earned $2 billion through the carbon trading market. What's frightening is that this is just the initial revenue, and the figure will continue to skyrocket in the future.</p><p>Currently, Ant Forest is not large in scale. From August 2016 to now, it has achieved an ecosystem output value of over 10 billion yuan through the carbon trading market. As Ant Forest continues to expand in the future, it may become another unicorn company under Alibaba, with a market value not much less than that of Ant Financial.</p><p>What gives Ant Forest its broad prospects is the Kyoto Protocol. This agreement aims to control the Earth's greenhouse effect by keeping the content of greenhouse gases in the atmosphere within a reasonable range, which requires countries around the world to reduce emissions as much as possible.</p><p>The key point is controlling carbon dioxide emissions, which creates a carbon trading market. In other words, companies without carbon emission standards cannot produce. Some companies manufacture a large number of quotas that they simply cannot use up. If they don't have enough, they buy the quotas from the companies that can't use them up. For example, Lenovo's annual emission standard of 500 tons is simply not enough. If they want to produce after using up 500 tons, they may have to buy from Ant Forest. There are many similar cases abroad, and Tesla has made a lot of money from this.</p><p><img src=\"https://static.tigerbbs.com/c9f132fb9c39d3721f2b91524905bfce\" tg-width=\"617\" tg-height=\"374\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The brilliance of \"Ant Forest\" lies in its purpose of making a profit under the guise of public welfare. By planting trees and allowing them to absorb carbon dioxide and release oxygen through photosynthesis, emissions can be reduced and emission targets can be created. Ant Forest can then sell its emission credits to companies that need them. As the forest grows larger, more and more trees are planted, and more and more indicators are set. With the help of the hen of the philanthropist, there is a continuous stream of eggs. Ant Forest is very clever in \"using the chicken to lay eggs\".</p><p>Interestingly, the carbon emission market is currently almost clearly priced, with each ton of carbon emissions at around 18 yuan. From 2016 to the end of 2020, Ant Forest reduced emissions by 12 million tons in four years. The number is not large, but their growth rate is almost exponential, which has made Ant Forest full of prospects. It is like a piggy bank, with money pouring in every moment, while the costs it incurs are negligible.</p><p><b>Listing is a long way off</b></p><p>After Ant Group was suspended from listing, many financial professionals, besides feeling some regret for Ant Group, quickly forgot about it, while investors who have been following Ant Group may not see any hope for the time being.</p><p>“Ant Group’s suspension from listing is mainly due to their business model. If such a blatant credit company becomes the largest IPO in China, it will contradict the country’s original intention of focusing on governing credit companies recently. At this stage, it will be difficult for Ant Group to go public within several years.” Liu Bo, who has been engaged in investment for many years, is pessimistic about Ant Group’s listing.</p><p>At a time of turmoil for Ant Group, the downfall of Zhou Jiangyong, the secretary of the Hangzhou Municipal Party Committee, especially the titles of relevant personnel in Ant Group's solemn statement, has given rise to much speculation.</p><p>According to Caixin, from August 21 to 22, the Zhou Jiangyong family is suspected of making a surprise investment in a local company before its IPO. The company that went public was not named. This is in conjunction with Zhou Jiangyong's vigorous promotion of the digital economy during his tenure in Hangzhou and his proposal to make Hangzhou the number one digital economy city in the country. Over the past few years, he has had extensive work experience with leading local digital economy companies. As a result, the public naturally thinks of Ant Group. Ant Group's solemn statement directly replaced the rumored \"local company\" with Ant Group. As for the truth of the incident, it is still inconclusive, and everything will be subject to the announcement after the authoritative departments verify it.</p><p>However, that solemn statement had the opposite effect. The embarrassment of being \"slapped in the face\" as soon as the rumor was refuted last year was not far away. At that time, some media reported that the Central Joint Investigation Team had entered Alibaba, and Alibaba immediately issued the same solemn statement to pursue the criminal responsibility of those who spread the rumor.</p><p><img src=\"https://static.tigerbbs.com/cc7940c29aa8369510fad1a1e83dff75\" tg-width=\"641\" tg-height=\"747\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>However, it was confirmed a few days later that the investigation team's entry into Alibaba was true, and that the on-site investigation and evidence collection had been completed.</p><p><img src=\"https://static.tigerbbs.com/9e7effab9a822b5f3522eceaf058b64b\" tg-width=\"647\" tg-height=\"288\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Even if it is ultimately confirmed to be just a rumor, Ant Group's IPO will be even more distant after this \"rumor\".</p>","source":"lsy1588993976395","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Even after Ant Group's solemn declaration, its IPO remains a long way 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\">\nEven after Ant Group's solemn declaration, its IPO remains a long way off.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">BT财经</strong><span class=\"h-time small\">2021-08-24 18:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Ant Group's valuation once surpassed that of the five major banks, and if it went public, it would have become the world's largest IPO. However, its listing was suspended at the end of 2020, and recently there have been rumors that a fallen official had invested in the company.<b>On August 21, the website of the Central Commission for Discipline Inspection and the National Supervisory Commission published an investigation notice against Zhou Jiangyong, Secretary of the Hangzhou Municipal Party Committee and member of the Standing Committee of the Zhejiang Provincial</b>At the same time, it was also announced that the relationship between government and business in Hangzhou would be cleaned up and rectified.</p><p>There were rumors that Zhou participated in a \"surprise\" investment in a company before its IPO. Ant Group urgently denied the rumors after the incident, prompting some netizens to jokingly say, \"If you don't deny the rumors, you won't guess who it is.\"</p><p><img src=\"https://static.tigerbbs.com/9d98e7768f8401f1a59411d6dcb21cbc\" tg-width=\"566\" tg-height=\"415\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As can be seen from Ant Group's solemn statement, the main content of Ant Group's refutation was that there were rumors that Ant Group had violated regulations by having relevant personnel rush to invest in shares during the previous IPO process, and that Ant Group would take legal measures to protect its legitimate rights and interests, claiming that it would pursue the criminal liability of those who spread the rumors.</p><p>It's important to note that prior to Ant Group's denial, the public knew very little about the so-called rumors.<b>Ant Group's solemn statement only intensified the situation, even raising questions about whether there was any silver in this place.</b>。</p><p><img src=\"https://static.tigerbbs.com/71d8e8e35e0d5bfbf7c8b5712494bbd0\" tg-width=\"640\" tg-height=\"1172\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Climbing high, falling badly</b></p><p>Ant Group was once valued at HK$3.6 trillion, equivalent to RMB3 trillion. If it successfully lists, it will break the record for the world's largest IPO and surpass Kweichow Moutai to become the king of A-shares. During the same period, the market capitalization of the Industrial and Commercial Bank of China was only about half that of Ant Group, at only 1.6 trillion yuan, while the market capitalization of the Agricultural Bank of China was about one-third. Ant Group became the focus of heated discussions, and the topic of concern was why Ant Group could have a higher market capitalization than the five major banks.</p><p>Ant Group's business can be roughly divided into the following sections. The first section is the payment function that is well-known and has been used for a long time, now called digital payment and merchant services. This is Alibaba Group's earliest digital payment service, with Alipay accounting for 36% of Ant Group's total revenue, reaching 26 billion yuan.</p><p>Ant Group's main business is its second segment, digital fintech services, which involve selling technical service fees. Its main customers are not individuals, but financial institutions such as banks, securities companies, fund companies, trust companies, and insurance companies. This segment once accounted for the majority of Ant Group's total revenue, reaching as high as 60% in the first half of 2020, or about 46 billion yuan.</p><p>The third business segment is innovation and other businesses. Innovations include high-end technologies such as blockchain and databases, as well as big data technologies used by banks to verify the loan creditworthiness of micro and small enterprises. There are also projects like Ant Forest.</p><p>What makes Ant Group potentially surpass Kweichow Moutai to become the king of A-shares and the largest IPO in history is its intellectual property rights. Ant Group's strong intellectual property rights include 26 independently developed core technology products and 18 world-class and national-level core technology awards. These are the key to Ant Group's recognition. As for its patents and trademarks, they number as high as 26,279 and 8,569 respectively, covering 40 countries and regions around the world. It also owns 369 non-design and trade secrets, 3,927 domain names, and 677 copyrights. These intellectual property rights belong to top technology companies both domestically and globally.</p><p>Many investors have high expectations for Ant Group's IPO, especially Ant Group employees who dream of the day they get rich overnight. However, an announcement from the Shanghai Stock Exchange on November 3, 2020, shattered these people's dreams. The announcement stated that \"the actual controller, chairman, and general manager of Ant Group were jointly held for regulatory talks by relevant departments, and Ant Group reported major events such as changes in the financial technology regulatory environment in which it operates. This major event may cause Ant Group to fail to meet the IPO conditions or information disclosure requirements. Therefore, it has been decided to postpone Ant Group's listing.\"</p><p><img src=\"https://static.tigerbbs.com/70fa1ef3428e8433000d1e9a6d3776cf\" tg-width=\"518\" tg-height=\"590\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>This is the official response. In fact, even before the official response, there were claims that Ant Group could not go public at all. The root of this matter may lie in the \"attack on banks\" by Jack Ma. On October 24, 2020, at the second Bund Financial Summit in Shanghai, Jack Ma delivered a passionate 21-minute speech. Some analysts say that it may have been this speech that caused Ant Group to postpone its IPO, and it may have been postponed indefinitely, because in the speech, Jack Ma openly questioned banks and regulatory agencies around the world and \"attacked\" banks.</p><p>Regardless, the suspension of listing will have a huge impact on Ant Group. Analysts point out that Ant Group may become the \"most expensive company\" that falls the most the higher it climbs.</p><p><b>A \"loan shark\" company?</b></p><p>Ant Group's IPO prospectus shows that Alipay's monthly active users increased from 499 million in 2017 to 711 million in 2020, with over 1 billion annual active users and 80 million monthly active merchants. Such a large payment user base gives Ant Group ample confidence.</p><p>However, among the digital fintech platforms that Ant Group relies on most, it is subdivided into micro-loan technology, wealth management technology, and insurance technology. They all look quite high-end, like tech companies, and their suffixes all contain the word \"technology,\" but in reality, Ant Group...<b>The core businesses are microloans, wealth management product sales, and insurance sales.</b></p><p><img src=\"https://static.tigerbbs.com/54ca908d4c5c6d63f252f732aa1c287e\" tg-width=\"650\" tg-height=\"434\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Among microloans, wealth management products, and insurance, microloans had the largest revenue, with revenue of 28.6 billion yuan in the first half of 2020, accounting for 62% of the total revenue of digital finance technology platforms. The COVID-19 pandemic severely damaged the domestic economy, and many people had to rely on borrowing to make a living after losing their jobs. Ant Group's Huabei became a favorite among young people, which led to Ant Group's growth rate of 38% in the first half of 2020. In the context of a sluggish real economy, Ant Group became a new favorite of many investors.</p><p>Financial professional Shi Baogang believes that \"Ant Financial's operating model involves debt and asset securitization, such as packaging securities into wealth management products and issuing loans in a cyclical manner, creating a 100-fold leverage. This high leverage means high risk. What's even more remarkable is that Ant Group can achieve 'getting something for nothing' with zero cost when operating loans, thereby achieving high profits. Through the back-and-forth operation of bonds and asset securitization, cross-purchases, there is almost no inherent risk, because the risk has been transferred to the investors who purchase the relevant wealth management products at each level.\"</p><p>Shi Baogang pointed out: \"To put it bluntly, Ant Group is a 'loan shark' company. Even though they use various technological names and own a large number of intellectual property rights, the nature of keeping high profits for themselves and throwing high risks to society determines their nature.\"</p><p>According to the prospectus, when Sesame Credit is excellent enough, the daily interest rate for Jiebei users is around 0.04%, which is equivalent to an annualized interest rate of 14.6%. However, if Sesame Credit is not excellent enough, the annualized interest rate is very likely to be above 18%. This annual interest rate signals that Ant Group is teetering on the edge of the boundaries defined by loan sharks, because according to relevant laws, any amount exceeding four times the loan market prime rate is not protected by law. During the same period, the loan market prime rate was 3.85%, and the upper limit of 4 times should be 15.4%. Some people specifically tried using Jiebei's loan interest rate and found that the final interest rate was 18.2%. You can judge for yourself whether it is a loan shark.</p><p><img src=\"https://static.tigerbbs.com/c6346ce560fe998e0520bc0da62c7b64\" tg-width=\"409\" tg-height=\"515\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In addition,<b>Ant Group also acts as an intermediary, cooperating with banks to provide loans. The main customers of these loans are micro and small business owners. The daily interest rate is about 0.03% and the annualized rate is 10.95%. Ant Group does not need to invest a single penny to take a cut of the interest from the banks.</b></p><p>This capital-free operation has resulted in high profits and high growth. The micro-loan business has consistently accounted for nearly 40% of Ant Group's total revenue, and the proportion is constantly increasing.</p><p><b>Ant Forest's \"pseudo-public welfare\"</b></p><p>When Ant Group launched Ant Forest, many people's first impressions were positive. However, it was later realized that while things were good, Ant Forest's original intention might not actually be to do public welfare. Its positioning as a commercial project has begun to be questioned by the outside world.</p><p>Let's briefly analyze the operating model of Ant Forest. The initial model of \"Ant Forest\" was roughly to collect energy, steal the energy of friends, and attract the participation of a large number of people on social media. After a certain amount of energy was accumulated, people could choose to plant trees in Northwest China or other areas with harsh environments. At this point, \"Ant Forest\" will provide a number that corresponds to the tree and uses real-name registration. This move has drawn a positive response from many people.</p><p><img src=\"https://static.tigerbbs.com/0e8b83fbf1391f84647e3cd7a3417607\" tg-width=\"594\" tg-height=\"443\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In today's increasingly environmentally conscious world, these people believe that planting a tree named after themselves is equivalent to contributing to environmental protection. As environmental protection concepts take root in people's hearts, Ant Forest is gaining more popularity.</p><p><img src=\"https://static.tigerbbs.com/7b8fe4e78cdc275472a4a14ba2ce71c6\" tg-width=\"624\" tg-height=\"394\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Many people support Ant Forest because of the public welfare and environmental protection promoted by Ant Group. Ant Group has taken advantage of these people's simple mindset to inject more traffic into Ant Group.</p><p>However, most of the philanthropists involved in Ant Forest are unaware that the market targeted by Ant Forest is called the carbon trading market. This term is extremely unfamiliar to the general public, but it represents a huge market that could reach trillions in the future. Many prominent figures abroad have already set their sights on this huge market, with former and current world's richest men Bill Gates and Elon Musk having long been involved in this field. Take Elon Musk as an example. He has already earned $2 billion through the carbon trading market. What's frightening is that this is just the initial revenue, and the figure will continue to skyrocket in the future.</p><p>Currently, Ant Forest is not large in scale. From August 2016 to now, it has achieved an ecosystem output value of over 10 billion yuan through the carbon trading market. As Ant Forest continues to expand in the future, it may become another unicorn company under Alibaba, with a market value not much less than that of Ant Financial.</p><p>What gives Ant Forest its broad prospects is the Kyoto Protocol. This agreement aims to control the Earth's greenhouse effect by keeping the content of greenhouse gases in the atmosphere within a reasonable range, which requires countries around the world to reduce emissions as much as possible.</p><p>The key point is controlling carbon dioxide emissions, which creates a carbon trading market. In other words, companies without carbon emission standards cannot produce. Some companies manufacture a large number of quotas that they simply cannot use up. If they don't have enough, they buy the quotas from the companies that can't use them up. For example, Lenovo's annual emission standard of 500 tons is simply not enough. If they want to produce after using up 500 tons, they may have to buy from Ant Forest. There are many similar cases abroad, and Tesla has made a lot of money from this.</p><p><img src=\"https://static.tigerbbs.com/c9f132fb9c39d3721f2b91524905bfce\" tg-width=\"617\" tg-height=\"374\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The brilliance of \"Ant Forest\" lies in its purpose of making a profit under the guise of public welfare. By planting trees and allowing them to absorb carbon dioxide and release oxygen through photosynthesis, emissions can be reduced and emission targets can be created. Ant Forest can then sell its emission credits to companies that need them. As the forest grows larger, more and more trees are planted, and more and more indicators are set. With the help of the hen of the philanthropist, there is a continuous stream of eggs. Ant Forest is very clever in \"using the chicken to lay eggs\".</p><p>Interestingly, the carbon emission market is currently almost clearly priced, with each ton of carbon emissions at around 18 yuan. From 2016 to the end of 2020, Ant Forest reduced emissions by 12 million tons in four years. The number is not large, but their growth rate is almost exponential, which has made Ant Forest full of prospects. It is like a piggy bank, with money pouring in every moment, while the costs it incurs are negligible.</p><p><b>Listing is a long way off</b></p><p>After Ant Group was suspended from listing, many financial professionals, besides feeling some regret for Ant Group, quickly forgot about it, while investors who have been following Ant Group may not see any hope for the time being.</p><p>“Ant Group’s suspension from listing is mainly due to their business model. If such a blatant credit company becomes the largest IPO in China, it will contradict the country’s original intention of focusing on governing credit companies recently. At this stage, it will be difficult for Ant Group to go public within several years.” Liu Bo, who has been engaged in investment for many years, is pessimistic about Ant Group’s listing.</p><p>At a time of turmoil for Ant Group, the downfall of Zhou Jiangyong, the secretary of the Hangzhou Municipal Party Committee, especially the titles of relevant personnel in Ant Group's solemn statement, has given rise to much speculation.</p><p>According to Caixin, from August 21 to 22, the Zhou Jiangyong family is suspected of making a surprise investment in a local company before its IPO. The company that went public was not named. This is in conjunction with Zhou Jiangyong's vigorous promotion of the digital economy during his tenure in Hangzhou and his proposal to make Hangzhou the number one digital economy city in the country. Over the past few years, he has had extensive work experience with leading local digital economy companies. As a result, the public naturally thinks of Ant Group. Ant Group's solemn statement directly replaced the rumored \"local company\" with Ant Group. As for the truth of the incident, it is still inconclusive, and everything will be subject to the announcement after the authoritative departments verify it.</p><p>However, that solemn statement had the opposite effect. The embarrassment of being \"slapped in the face\" as soon as the rumor was refuted last year was not far away. At that time, some media reported that the Central Joint Investigation Team had entered Alibaba, and Alibaba immediately issued the same solemn statement to pursue the criminal responsibility of those who spread the rumor.</p><p><img src=\"https://static.tigerbbs.com/cc7940c29aa8369510fad1a1e83dff75\" tg-width=\"641\" tg-height=\"747\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>However, it was confirmed a few days later that the investigation team's entry into Alibaba was true, and that the on-site investigation and evidence collection had been completed.</p><p><img src=\"https://static.tigerbbs.com/9e7effab9a822b5f3522eceaf058b64b\" tg-width=\"647\" tg-height=\"288\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Even if it is ultimately confirmed to be just a rumor, Ant Group's IPO will be even more distant after this \"rumor\".</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/Sy6Nb4kw8UfSuXGodGlRsQ\">BT财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a36908ff214bd6cd3260483c5eb70478","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/Sy6Nb4kw8UfSuXGodGlRsQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157355451","content_text":"蚂蚁集团估值一度碾压五大银行，如上市将成为全球最大的IPO，但却在2020年底被暂停上市，最近更曝出有落马官员入股的传言。\n\n8月21日，中央纪委国家监委网站公布了对杭州市委书记、浙江省省委常委周江勇的审查通告。同时还公布了要对杭州的政商关系进行清理整治。\n有相关传言称周参与了一家公司IPO前的“突击”入股，蚂蚁集团在事发后的紧急辟谣，有网友戏称：“你不辟谣还想不到是谁呢。”\n\n从蚂蚁集团的严正声明中可以看出，蚂蚁集团辟谣的内容主要是有传言说蚂蚁集团在此前IPO发行的过程中，存在相关人员突击入股的违规行为，并声明蚂蚁集团会采用法律手段维护自身的合法权益，声称要追究造谣者的刑事责任。\n需要注意的是在蚂蚁集团的辟谣之前，大众对所谓的谣传知之甚少，而蚂蚁集团的一番严正声明反而让此事愈演愈烈，蚂蚁集团的此番声明，甚至带来了“此地无银三百两”的诸多质疑。\n\n爬得高 摔得惨\n蚂蚁集团一度被估值高达3.6万亿港元，折合人民币高达3万亿元，一旦上市成功将刷新全球最大IPO记录，将超越贵州茅台成为A股之王。而同期的中国工商银行市值仅为蚂蚁集团的一半左右，仅为1.6万亿元，农业银行市值约为其三分之一，一时间蚂蚁集团成为热议的焦点，大家关注的话题是，凭什么蚂蚁集团能比五大银行的市值都高？\n梳理蚂蚁集团业务内容，大致可以分为以下几个版块，第一块是大家比较熟知也一直在使用的支付功能，现在叫数字支付与商家服务，这是阿里集团最早的数字支付，其中支付宝占蚂蚁集团总收入的36%，营收达260亿元。\n蚂蚁集团业务的重头戏是第二版块，数字金融科技服务，就是卖技术服务费，主要客户并非个人，而是针对银行、证券、基金公司、信托公司、保险公司等金融机构，这一块一度占据蚂蚁集团总收入的大头，在2020年上半年，一度高达六成，约460亿元。\n第三块业务是创新业务及其他。创新包括区块链、数据库等高端技术，用来帮银行验证小微企业的贷款信用的一些大数据技术，同时还有一些像蚂蚁森林之类的项目存在。\n而让蚂蚁集团有可能超越茅台成为A股之王并成为史上最大IPO的是蚂蚁集团的知识产权，蚂蚁集团雄厚的知识产权包含了26项自主研发核心技术产品，18项世界级和国家级核心技术奖项，这些是蚂蚁集团能被认可的关键所在，至于专利、商标分别高达26279和8569项，部及全球40个国家和地区，同时还拥有369项非外观设计及商业秘密、3927项域名、677项著作权。这些知识产权无论是在国内还是全球都是顶级的科技公司。\n很多投资者对蚂蚁集团的上市充满了期待，尤其蚂蚁集团的员工们都幻想着一夜暴富的那一天。但2020年11月3日上交所的一则公告击碎了这些人的美梦，该公告称“蚂蚁集团实际控制人及董事长、总经理被有关部门联合进行监管约谈，蚂蚁集团报告所处的金融科技监管环境发生变化等重大事项。该重大事项可能导致蚂蚁集团不符合发行上市条件或者信息披露要求，因此，决定暂缓蚂蚁集团的上市。”\n\n这是官方给出的答复。其实早在官方给出回复之前，就有说法称蚂蚁集团根本不可能上市，这事的根源或在于马云“炮轰银行事件”，2020年10月24日，上海第二届外滩金融峰会上，马云发表了时长21分钟的慷慨激昂的演讲，有分析称或正是这个演讲，让蚂蚁集团暂缓上市，且可能无限期推迟，因为在演讲中马云公然质疑全世界的银行及监管机构，并对银行进行了“炮轰”。\n不管怎样暂停上市对蚂蚁集团影响巨大。分析指出，蚂蚁集团或成为爬得越高，摔得最惨的“最贵公司”。\n一家“高利贷”公司？\n蚂蚁集团的IPO招股书中显示，支付宝的月度活跃用户由2017年的4.99亿名，上涨到2020年月活用户7.11亿名，年度活跃用户10亿+，月活商家8000万家，如此庞大的支付人群让蚂蚁集团有了充足的底气。\n但在蚂蚁集团最为仰仗的数字金融科技平台中，细分为微贷科技、理财科技、保险科技。看着都挺高大上，都像一家科技公司，后缀也都带着科技两个字，但其实蚂蚁集团核心的业务是——小额贷款、理财产品销售和卖保险。\n\n在小额贷款、理财产品和保险之中，营收规模最大的是小额贷款，2020年上半年营收286亿元，占数字金融科技平台总营收的62%，新冠疫情重创国内经济，很多人失业后不得不依靠借贷维持生计，蚂蚁集团的花呗成为年轻人的最爱，这也导致2020年上半年蚂蚁集团增速38%，在实体经济一片萧条的大环境，蚂蚁集团成为众多投资者的新宠。\n金融从业人士史宝刚认为，“蚂蚁金服的运作模式是通过债权、资产证券化，比如把证券包装为理财产品，循环的发放贷款，形成了100倍杠杆。这种高杠杆意味着高风险，更让人叫绝的是，蚂蚁集团在操作贷款的时候可以做到零成本就能完成“空手套白狼”，从而实现高额的利润，通过债券和资产化证券化的来回运作，交叉购买，自身风险几乎没有，因为风险已经层层转嫁到购买相关理财产品的投资者身上。”\n史宝刚指出：“说白了，蚂蚁集团就是一家‘高利贷’公司，即便他们冠以各种科技称谓，也拥有数量众多的知识产权，但高利润留给自己，高风险扔给社会的本质决定他们的性质”。\n根据招股书数据可知，当芝麻信用足够优秀的情况下，借呗用户的日利率为0.04%左右，折合年化利率为14.6%，但一旦芝麻信用分不够优秀，则年化利率很有可能在18%以上。这个年利率透露一个信号，就是蚂蚁集团在高利贷公司界定的界限边缘游走，因为根据相关法律规定，超过贷款市场报价利率4倍的部分不受法律保护。同期贷款市场报价利率3.85%，4倍的上限应该为15.4%。有人专门尝试了一下借呗的贷款利率，得出最终的利率为18.2%，是否高利贷可以自行判断。\n\n此外，蚂蚁集团还充当中介的角色，通过与银行合作放贷，这些贷款主要客户群体为小微经营者，贷款的日利率为0.03%左右，年化10.95%，蚂蚁集团不需要投入一分钱就能从银行放贷的利息中进行抽成。\n如此无本经营带来的是高利润和高增长，微贷业务占蚂蚁集团整体营收的比重为一直接近四成，比重不断提升。\n蚂蚁森林的“伪公益”\n蚂蚁集团推出蚂蚁森林的时候，很多人的第一感觉还是正面的。但随后慢慢发现，事是好事，蚂蚁森林的初心未必真的是在做公益。将其定位在商业项目开始被外界质疑。\n简单分析一下蚂蚁森林的运作模式，“蚂蚁森林”的最初模式大概是收集能量，偷朋友的能量，以社交的方式，吸引广大朋友圈人的参与，在能量积攒到一定量之后，就可以选择在西北地区或其他环境恶劣的地区种树。此时“蚂蚁森林”会提供一个编号，这个编号就对应着这棵树，还采用了实名制。此举招来很多人的积极响应。\n\n在环保意识逐渐提升的今天，这些人认为种下一棵以自己名字命名的树，相当于环境保护出了一份力。在环保理念深入人心之际，蚂蚁森林受到更多的追崇。\n\n很多人支持蚂蚁森林，看上的是蚂蚁集团宣传的公益环保，而蚂蚁集团利用了这些人的朴素心理，为蚂蚁集团注入更多的流量。\n只是参与蚂蚁森林的公益者们多数人并不知道，“蚂蚁森林”瞄准的市场叫做碳交易市场。这个名词对于普通大众来说也极为陌生，但它却是一个未来能达到万亿级的庞大市场。在国外很多牛人早已瞄上这个庞大市场，前世界首富和现世界首富比尔盖茨和埃隆马斯克都在这个领域布局已久。以埃隆马斯克为例，他通过碳交易市场已经获得了20亿美金的收入，可怕的是，这只是开始阶段的收益，未来将会不断暴增的天文数字。\n从目前来看，“蚂蚁森林”现在的体量并不大，从2016年8月到现在，通过碳交易市场也获得了百亿以上的生态系统生产总值，随着未来“蚂蚁森林”的不断深入拓展，蚂蚁森林将有可能会成为阿里旗下的另一个独角兽企业，市值并不比蚂蚁金服少太多。\n让蚂蚁森林拥有广阔前景的是在《京都议定书》，该协定为了控制地球的温室效应，把大气中温室气体的含量控制在一个合理的区间，这就需要全球各国尽可能地减少排放。\n而其中的关键点是控制二氧化碳的排放，这就产生了碳交易市场，也就是说没有碳排放标准的企业是没有办法生产的，而有的企业制造了大量的指标，根本用不完，不够用的向用不完的企业购买指标，举例来说，联想一年500吨的排放标准根本不够用，用完了500吨之后要想生产，可能就得向蚂蚁森林购买，国外也有不少类似案例，特斯拉就靠此赚了不少钱。\n\n“蚂蚁森林”的高明之处在于打着公益的幌子实现盈利的目的，通过植树造林，让树林通过光合作用吸收二氧化碳放出氧气，就可以实现减排，创造出排放指标。然后蚂蚁森林可以把排放指标卖给需要的企业。森林越长越大，植树越来越多，指标越来越多，借着公益者这只母鸡，有着源源不断的鸡蛋，蚂蚁森林“借鸡生蛋”非常高明。\n有意思的是，目前碳排放市场几乎是明码标价，每吨碳排放为18元左右，蚂蚁森林从2016年到2020年底，4年的时间减排量达到了1200万吨，数字并不大，但他们几乎是几何倍增速，已让蚂蚁森林充满前景，这就好比是一个存钱罐一样，每时每刻都在进钱，而自身付出的成本却微乎其微。\n上市遥遥无期\n在蚂蚁集团被暂停上市后，很多金融从业者除了对蚂蚁集团有些惋惜之外，很快就淡忘了此事，而一直关注蚂蚁集团的投资者却可能暂时看不到希望。\n“蚂蚁集团被暂停上市，最主要还是他们的经营模式，那种赤裸裸的信贷公司，如果成为国内最大的IPO，就会和国家最近一直重点治理信贷公司的初衷相违背，现阶段来看，数年内蚂蚁集团上市都很难。”从事投资多年的刘波对蚂蚁集团的上市持不乐观态度。\n正在蚂蚁集团多事之秋之际，杭州市委书记周江勇的落马，尤其蚂蚁集团严正声明中的相关人员的称谓，更给人诸多遐想。\n据《财经》报道，从8月21日至22日，有关周江勇家族涉嫌在当地一家公司IPO前突击入股，而这家IPO的公司并未被点名道姓，结合周江勇在主政杭州期间，曾大力推进数字经济发展，提出要将杭州打造成全国数字经济第一城。过去几年，他与当地数字经济龙头企业有较多工作接触。于是公众自然联想到蚂蚁集团，蚂蚁集团的严正声明则直接将谣传中的“当地一家公司”直接换成了蚂蚁集团，至于事件的真相目前尚无定论，一切将以权威部门查实后的通告为准。\n而那则严正声明的效果却起到了相反的作用，去年刚辟谣就被“打脸”的尴尬并不遥远，当时有媒体报道说中央联合调查组进驻阿里，阿里第一时间发表同样的严正声明，也要追究造谣者的刑事责任。\n\n但在几天后就被证实，调查组进驻阿里是真事，且已经完成了现场的调查取证。\n\n即便最终证实只是谣传，但在经此“谣传”后，蚂蚁集团上市更将遥遥无期。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834237776,"gmtCreate":1629805642695,"gmtModify":1676530136524,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3579091027208131","idStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834237776","repostId":"1134494417","repostType":4,"isVote":1,"tweetType":1,"viewCount":4086,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806702183,"gmtCreate":1627692200442,"gmtModify":1703494705087,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":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| 輝瑞財報分析 疫苗收入即將超過主營！","htmlText":"期待很久的輝瑞<a target=\"_blank\" href=\"https://laohu8.com/S/PFE\">$輝瑞(PFE)$</a>發佈了2021年第二季度的財報，對於目前的股票市場和大流行，閱讀這份2021Q2輝瑞財報，着重點更多的是放在了新冠疫苗上。閱讀這份財報並不簡單，包含了大量專業詞彙，讀起來也不像其他公司那樣輕鬆，輝瑞公司我關注了很久，在此之前我翻閱了大量關於生物製藥的材料，看了很多份文件，但是閱讀這份財報的時候還是比較吃力。 我盡我可能將這些專業術語或者比較難懂的內容進行大白話模式的表達，以方便大家理解。如果是在看不下去，可以直接跳到最後一部分，有我對於輝瑞公司的目標價位等。 前言 輝瑞公司更換了LOGO，由之前的藍色小藥丸，變成了現在藍色雙螺旋，這真的是越來越追求生物製藥了，不知道會不會變成“傘公司”呢？開個玩笑，對於輝瑞來說，並非只有新冠疫苗，其製藥部分更爲龐大和複雜。我們閱讀這份財報主要看疫苗（BNT162b2）部分，這應該也是大家都比較關注的一點，理論上上疫苗上市後需求會有個高峯，而後會出現下滑，如果疫苗的需求量 一直處於高峯或者每個季度都比上個季度高，這雖然對公司營收上來看挺好的，但反而說明大流行沒那麼快會結束。 小提示：輝瑞疫苗是由<a target=\"_blank\" href=\"https://laohu8.com/S/PFE\">$輝瑞(PFE)$</a>&nbsp;和<a target=\"_blank\" href=\"https://laohu8.com/S/BNTX\">$BioNTech SE(BNTX)$</a>&nbsp;聯合開發的，並非只有輝瑞一家公司，根據後面財報信息，我們也可以讀出這兩家公司是如何分割利潤的。 看財報前，我對該公司的預期也是因疫苗而產生的營銷額應該遠超於2021Q1季度，而面對目前的變種誕生，輝瑞或許在未來會推","listText":"期待很久的輝瑞<a target=\"_blank\" href=\"https://laohu8.com/S/PFE\">$輝瑞(PFE)$</a>發佈了2021年第二季度的財報，對於目前的股票市場和大流行，閱讀這份2021Q2輝瑞財報，着重點更多的是放在了新冠疫苗上。閱讀這份財報並不簡單，包含了大量專業詞彙，讀起來也不像其他公司那樣輕鬆，輝瑞公司我關注了很久，在此之前我翻閱了大量關於生物製藥的材料，看了很多份文件，但是閱讀這份財報的時候還是比較吃力。 我盡我可能將這些專業術語或者比較難懂的內容進行大白話模式的表達，以方便大家理解。如果是在看不下去，可以直接跳到最後一部分，有我對於輝瑞公司的目標價位等。 前言 輝瑞公司更換了LOGO，由之前的藍色小藥丸，變成了現在藍色雙螺旋，這真的是越來越追求生物製藥了，不知道會不會變成“傘公司”呢？開個玩笑，對於輝瑞來說，並非只有新冠疫苗，其製藥部分更爲龐大和複雜。我們閱讀這份財報主要看疫苗（BNT162b2）部分，這應該也是大家都比較關注的一點，理論上上疫苗上市後需求會有個高峯，而後會出現下滑，如果疫苗的需求量 一直處於高峯或者每個季度都比上個季度高，這雖然對公司營收上來看挺好的，但反而說明大流行沒那麼快會結束。 小提示：輝瑞疫苗是由<a target=\"_blank\" href=\"https://laohu8.com/S/PFE\">$輝瑞(PFE)$</a>&nbsp;和<a target=\"_blank\" href=\"https://laohu8.com/S/BNTX\">$BioNTech SE(BNTX)$</a>&nbsp;聯合開發的，並非只有輝瑞一家公司，根據後面財報信息，我們也可以讀出這兩家公司是如何分割利潤的。 看財報前，我對該公司的預期也是因疫苗而產生的營銷額應該遠超於2021Q1季度，而面對目前的變種誕生，輝瑞或許在未來會推","text":"期待很久的輝瑞$輝瑞(PFE)$發佈了2021年第二季度的財報，對於目前的股票市場和大流行，閱讀這份2021Q2輝瑞財報，着重點更多的是放在了新冠疫苗上。閱讀這份財報並不簡單，包含了大量專業詞彙，讀起來也不像其他公司那樣輕鬆，輝瑞公司我關注了很久，在此之前我翻閱了大量關於生物製藥的材料，看了很多份文件，但是閱讀這份財報的時候還是比較吃力。 我盡我可能將這些專業術語或者比較難懂的內容進行大白話模式的表達，以方便大家理解。如果是在看不下去，可以直接跳到最後一部分，有我對於輝瑞公司的目標價位等。 前言 輝瑞公司更換了LOGO，由之前的藍色小藥丸，變成了現在藍色雙螺旋，這真的是越來越追求生物製藥了，不知道會不會變成“傘公司”呢？開個玩笑，對於輝瑞來說，並非只有新冠疫苗，其製藥部分更爲龐大和複雜。我們閱讀這份財報主要看疫苗（BNT162b2）部分，這應該也是大家都比較關注的一點，理論上上疫苗上市後需求會有個高峯，而後會出現下滑，如果疫苗的需求量 一直處於高峯或者每個季度都比上個季度高，這雖然對公司營收上來看挺好的，但反而說明大流行沒那麼快會結束。 小提示：輝瑞疫苗是由$輝瑞(PFE)$ 和$BioNTech SE(BNTX)$ 聯合開發的，並非只有輝瑞一家公司，根據後面財報信息，我們也可以讀出這兩家公司是如何分割利潤的。 看財報前，我對該公司的預期也是因疫苗而產生的營銷額應該遠超於2021Q1季度，而面對目前的變種誕生，輝瑞或許在未來會推","images":[{"img":"https://static.tigerbbs.com/c4c0064c4ee1031ad4d1c93dd363f47f","width":"688","height":"387"},{"img":"https://static.tigerbbs.com/ed38c8fce64d5b5b3df59db4e732cea8","width":"653","height":"1147"},{"img":"https://static.tigerbbs.com/8ad6f60d8c644fa6ffeb103b66bade2f","width":"688","height":"955"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/801575381","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":16,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":3252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178371206,"gmtCreate":1626789824105,"gmtModify":1703765264612,"author":{"id":"3579091027208131","authorId":"3579091027208131","name":"小白菜逆袭","avatar":"https://static.tigerbbs.com/e6fae3ff5fe246fa905d2a09cc814fdf","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3579091027208131","idStr":"3579091027208131"},"themes":[],"title":"","htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178371206","repostId":"1195550175","repostType":4,"repost":{"id":"1195550175","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":1626782161,"share":"https://ttm.financial/m/news/1195550175?lang=en_US&edition=fundamental","pubTime":"2021-07-20 19:56","market":"us","language":"zh","title":"Is the US stock market crash a possibility of a first-round exit? The real show is yet to come.","url":"https://stock-news.laohu8.com/highlight/detail?id=1195550175","media":"英为财情Investing","summary":"周一，因新冠病例激增引发了市场对全球经济的担忧，欧美股市惨遭大范围抛售，投资者担心或将再次实施停摆措施，这将令经济复苏将放缓。\n全球新冠病例激增\n根据路透的一项数据分析，过去30天里，因每日平均住院人","content":"<p>On Monday, European and American stock markets suffered a widespread sell-off as a surge in COVID-19 cases triggered market concerns about the global economy, with investors worried that another lockdown might be imposed, which would slow the economic recovery.</p><p><b>Global COVID-19 cases surge</b></p><p>According to a Reuters data analysis, the average number of new COVID-19 cases per day in the United States has tripled over the past 30 days as the average daily number of hospitalizations has increased by 21% from 16,000 to more than 19,000. Last week's death toll increased by 25% compared to the previous seven days, averaging 250 deaths per day.</p><p>The situation in Europe is also not optimistic. France announced on the 19th that it had entered the fourth wave of the epidemic, and Germany's infection rate has risen for the 11th consecutive day.</p><p>Besides China, the epidemic situation in Asia is also worsening in countries such as Myanmar, Indonesia, and India.</p><p><b>Global stock markets experienced a night of panic</b></p><p>With the outbreak of the pandemic, the market has cast doubt on the economic recovery in the second half of the year, leading to a sell-off in the stock market. The Nasdaq Composite Index fell 1.06%; The S&P 500 fell 1.59%, with the S&P 500 and Nasdaq recording their biggest drops since mid-May. The Dow Jones Industrial Average fell 2.09%, its biggest drop since October last year.</p><p>European stock markets generally fell by more than 2%, with the pan-European Stoxx 600 index closing down 2.3% for the fourth consecutive trading day. France's CAC40 index fell 2.54%; The FTSE 100 index fell 2.34%; Germany's DAX30 index fell 2.62%.</p><p>Market panic escalated sharply, with the VIX panic index once rising to 25.09, a new high in two months. It fell slightly at the close, but ultimately closed up 21.95%. Investors are turning to safe-haven assets. U.S. 10-year Treasury Bond were snapped up, causing yields to plummet by 4.86% to 1.207%.</p><p><img src=\"https://static.tigerbbs.com/fddc0b0ea75f0f82442b924cf9ca267c\" tg-width=\"1269\" tg-height=\"603\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">VIX hourly chart, source: Investing.com</p><p><b>Is the US stock market bull market over?</b></p><p>Recently, we have repeatedly mentioned the risk of a correction in US stocks. For details, please refer to \"Stop being blindly optimistic, Wall Street has already started secretly shorting US stocks\", \"Does the plunge in US Treasury yields indicate an imminent US stock market crash?\", and \"US stocks may plummet by 50%!\" We have consistently emphasized that the US stock market faces two major risks: the threat of the Delta variant virus and the Federal Reserve's tightening of monetary policy.</p><p>Changes in the pandemic are always an unknown factor. The spread of variant viruses could destroy the efforts made by previous countries at any time. However, countries cannot maintain economic lockdowns for a long time, which is also detrimental to the economy. Therefore, it is believed that the pandemic will gradually improve only after the vaccination rate increases. However, to some extent, after last night's sharp drop, the market has digested the impact of the pandemic, and US stocks may even rebound tonight.</p><p>Although the impact of the pandemic may weaken, can the level of economic recovery in the United States support such high stock prices?</p><p>According to a report by the U.S. Business Cycle Measurement Council, approximately 22 million people in the United States lost their jobs after the pandemic began, but 2.8 million returned to work in May 2020, and about 15 million returned to work the following year.</p><p>The second quarter earnings season in the United States is currently underway, and 41 companies in the S&P 500 have already released their earnings reports. According to Refinity's data, 90% of them exceeded analysts' average expectations. Analysts now expect S&P 500 companies to report a 72% year-over-year increase in earnings for the April-June quarter, significantly higher than the 54% forecast at the beginning of the quarter. If the company's performance meets expectations, it can support the current stock price to some extent.</p><p>As for the Federal Reserve, it has previously stated that inflation is temporary and will maintain its current policy unchanged. We all know that the Federal Reserve's rate hike or tightening of monetary policy will impact the US stock market, and the current dovish stance of the Fed is beneficial to the stock market. If the pandemic gets out of control, the Federal Reserve will only ease its policies further, so the Fed's factors can be ignored for the time being.</p><p>However, in the medium to long term, the Federal Reserve will always follow the path of normalizing monetary policy, and rate hike and reducing bond purchases are inevitable, which will always be a hidden danger to the US stock market.</p><p><b>Are US stocks overvalued?</b></p><p>We can compare US stocks and A-shares. The Dow Jones Industrial Average currently has an average P/E of 29 and a price-to-book ratio of 6.7. The S&P 500 has a P/E of 32 and a price-to-book ratio of 4.6. Nasdaq has a P/E of 48 and a price-to-book ratio of 6.1. In contrast, the P/E of the Shanghai Composite Index is 14 times and the price-to-book ratio is 1.5 times, while the P/E of the Hong Kong Hang Seng Index is only 13 times and the price-to-book ratio is only 1.2 times.</p><p>This shows that the valuation of US stocks is already very high to a certain extent, especially the Nasdaq index, while our Shanghai Composite Index is undervalued and considered a value haven.</p><p>Although the US earnings report is currently quite impressive, and although the US economic recovery looks promising, with the Federal Reserve's rate hike looming large and the Delta virus looming large, everything will be in serious doubt.</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>Is the US stock market crash a possibility of a first-round exit? The real show is yet to come.</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\">\nIs the US stock market crash a possibility of a first-round exit? The real show is yet to come.\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\">2021-07-20 19:56</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Monday, European and American stock markets suffered a widespread sell-off as a surge in COVID-19 cases triggered market concerns about the global economy, with investors worried that another lockdown might be imposed, which would slow the economic recovery.</p><p><b>Global COVID-19 cases surge</b></p><p>According to a Reuters data analysis, the average number of new COVID-19 cases per day in the United States has tripled over the past 30 days as the average daily number of hospitalizations has increased by 21% from 16,000 to more than 19,000. Last week's death toll increased by 25% compared to the previous seven days, averaging 250 deaths per day.</p><p>The situation in Europe is also not optimistic. France announced on the 19th that it had entered the fourth wave of the epidemic, and Germany's infection rate has risen for the 11th consecutive day.</p><p>Besides China, the epidemic situation in Asia is also worsening in countries such as Myanmar, Indonesia, and India.</p><p><b>Global stock markets experienced a night of panic</b></p><p>With the outbreak of the pandemic, the market has cast doubt on the economic recovery in the second half of the year, leading to a sell-off in the stock market. The Nasdaq Composite Index fell 1.06%; The S&P 500 fell 1.59%, with the S&P 500 and Nasdaq recording their biggest drops since mid-May. The Dow Jones Industrial Average fell 2.09%, its biggest drop since October last year.</p><p>European stock markets generally fell by more than 2%, with the pan-European Stoxx 600 index closing down 2.3% for the fourth consecutive trading day. France's CAC40 index fell 2.54%; The FTSE 100 index fell 2.34%; Germany's DAX30 index fell 2.62%.</p><p>Market panic escalated sharply, with the VIX panic index once rising to 25.09, a new high in two months. It fell slightly at the close, but ultimately closed up 21.95%. Investors are turning to safe-haven assets. U.S. 10-year Treasury Bond were snapped up, causing yields to plummet by 4.86% to 1.207%.</p><p><img src=\"https://static.tigerbbs.com/fddc0b0ea75f0f82442b924cf9ca267c\" tg-width=\"1269\" tg-height=\"603\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">VIX hourly chart, source: Investing.com</p><p><b>Is the US stock market bull market over?</b></p><p>Recently, we have repeatedly mentioned the risk of a correction in US stocks. For details, please refer to \"Stop being blindly optimistic, Wall Street has already started secretly shorting US stocks\", \"Does the plunge in US Treasury yields indicate an imminent US stock market crash?\", and \"US stocks may plummet by 50%!\" We have consistently emphasized that the US stock market faces two major risks: the threat of the Delta variant virus and the Federal Reserve's tightening of monetary policy.</p><p>Changes in the pandemic are always an unknown factor. The spread of variant viruses could destroy the efforts made by previous countries at any time. However, countries cannot maintain economic lockdowns for a long time, which is also detrimental to the economy. Therefore, it is believed that the pandemic will gradually improve only after the vaccination rate increases. However, to some extent, after last night's sharp drop, the market has digested the impact of the pandemic, and US stocks may even rebound tonight.</p><p>Although the impact of the pandemic may weaken, can the level of economic recovery in the United States support such high stock prices?</p><p>According to a report by the U.S. Business Cycle Measurement Council, approximately 22 million people in the United States lost their jobs after the pandemic began, but 2.8 million returned to work in May 2020, and about 15 million returned to work the following year.</p><p>The second quarter earnings season in the United States is currently underway, and 41 companies in the S&P 500 have already released their earnings reports. According to Refinity's data, 90% of them exceeded analysts' average expectations. Analysts now expect S&P 500 companies to report a 72% year-over-year increase in earnings for the April-June quarter, significantly higher than the 54% forecast at the beginning of the quarter. If the company's performance meets expectations, it can support the current stock price to some extent.</p><p>As for the Federal Reserve, it has previously stated that inflation is temporary and will maintain its current policy unchanged. We all know that the Federal Reserve's rate hike or tightening of monetary policy will impact the US stock market, and the current dovish stance of the Fed is beneficial to the stock market. If the pandemic gets out of control, the Federal Reserve will only ease its policies further, so the Fed's factors can be ignored for the time being.</p><p>However, in the medium to long term, the Federal Reserve will always follow the path of normalizing monetary policy, and rate hike and reducing bond purchases are inevitable, which will always be a hidden danger to the US stock market.</p><p><b>Are US stocks overvalued?</b></p><p>We can compare US stocks and A-shares. The Dow Jones Industrial Average currently has an average P/E of 29 and a price-to-book ratio of 6.7. The S&P 500 has a P/E of 32 and a price-to-book ratio of 4.6. Nasdaq has a P/E of 48 and a price-to-book ratio of 6.1. In contrast, the P/E of the Shanghai Composite Index is 14 times and the price-to-book ratio is 1.5 times, while the P/E of the Hong Kong Hang Seng Index is only 13 times and the price-to-book ratio is only 1.2 times.</p><p>This shows that the valuation of US stocks is already very high to a certain extent, especially the Nasdaq index, while our Shanghai Composite Index is undervalued and considered a value haven.</p><p>Although the US earnings report is currently quite impressive, and although the US economic recovery looks promising, with the Federal Reserve's rate hike looming large and the Delta virus looming large, everything will be in serious doubt.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/96819b78df36696eeccbf03ebd7c466d","relate_stocks":{".DJI":"道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195550175","content_text":"周一，因新冠病例激增引发了市场对全球经济的担忧，欧美股市惨遭大范围抛售，投资者担心或将再次实施停摆措施，这将令经济复苏将放缓。\n全球新冠病例激增\n根据路透的一项数据分析，过去30天里，因每日平均住院人数从1.6万人增加了21%，达到逾1.9万人，美国平均每天的新增新冠病例数增加了两倍。上周的死亡人数比前七天增加了25%，平均每天有250人死亡。\n欧洲疫情也很不乐观，法国19日宣布进入第四轮疫情，德国感染率已连续第11天出现上升。\n亚洲除中国外，缅甸、印尼、印度等国家疫情也在进一步恶化。\n全球股市惊魂一夜\n随着疫情的爆发，市场对下半年经济复苏存疑，股市遭到抛售。美国纳斯达克综合指数指数下跌1.06%；美国标准普尔500指数下跌1.59%，标普500指数和纳斯达克指数录得5月中以来最大跌幅；道琼斯工业平均指数下跌2.09%，创去年10月以来最大跌幅。\n欧洲股市更是普遍下跌2%以上，泛欧斯托克600指数连续四个交易日收跌，下跌2.3%；法国CAC40指数下跌2.54%；英国富时100指数跌2.34%；德国DAX30指数跌2.62%。\n一时间，市场恐慌情绪急剧升温，VIX恐慌指数一度冲高至25.09，创两个月来新高，尾盘稍有回落，最终收涨21.95%。投资者纷纷转向避险资产。美国十年期国债遭到疯抢，收益率大跌4.86%，至1.207%。\nVIX小时图，来源：Investing.com\n美股牛市是否终结？\n近期，我们多次提及美股有回调的风险，详情可以参看“不要再盲目乐观了，华尔街已经开始偷偷做空美股了”、“美债收益率暴跌暗示美股崩盘在即？”、“美股或将暴跌50%！”等。我们一直强调美股面临着两大风险，其一为Delta变种病毒的威胁，其二为美联储缩紧货币政策。\n疫情的变化始终是一个未知的因素，变种病毒的传播随时可能将之前各国所做的努力付之一炬，但是各国又不可能长期的保持经济封锁，这对经济也不利，所以只有等待疫苗接种率的提升后，相信疫情会逐步好转。不过，一定程度上讲，经过昨晚的一轮暴跌后，市场对疫情的影响已经有所消化，今晚美股甚至可能出现反弹。\n虽然疫情的影响可能会减弱，但是美国的经济复苏程度支撑的起如此高昂的股价吗？\n据美国商业周期测定委员会报告显示，疫情开始后，美国约有2200万人失业，但是在2020年5月就有280万人重返工作岗位，在接下来的一年里约有1,500万人恢复了工作。\n目前美国第二季财报季正在进行中，标普500指数成份股企业中有41家已经公布财报。根据路孚特数据，其中90%超出了分析师的平均预期。分析师现在预计，标普500指数成分股企业4-6月季度的盈利料同比增长72%，大大高于季度初预测的54%。假如与预期一致的话，企业的业绩一定程度上是可以支撑目前的股价。\n至于美联储方面，此前一直宣称通胀是暂时的，将维持目前的政策不变。我们都知道，美联储加息或者缩紧货币政策将对美国股市造成冲击，目前较为鸽派的美联储是对股市有利的。假如疫情失控的话，美联储只会更加的宽松，所以暂时可以不考虑美联储的因素。\n但是中长期来讲，美联储始终会走上货币政策正常化的道路，加息和缩减购债是势在必行的，这对美股始终是一个隐患。\n美股高估了吗？\n我们可以用美股和A股做一个比较。目前道琼斯工业指数的平均市盈率为29倍，市净率为6.7倍；标普500指数的市盈率为32倍，市净率为4.6倍；纳斯达克的市盈率为48倍，市净率为6.1倍。而对比上证指数的市盈率为14倍，市净率为1.5倍，香港恒生指数的市盈率更是只有13倍，市净率仅为1.2倍。\n由此可见，一定程度上美股的估值已经是非常高了，特别是纳斯达克指数，而我们的上证指数估值较低，属于价值洼地。\n虽然美国的财报暂时比较亮眼，虽然美国的经济复苏看起来很美，但是在远有美联储加息虎视眈眈，近有Delta病毒环伺之下，所有的一切都将打上大大的问号。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}