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云中梧桐

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2023-03-23

[微笑]

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2023-03-06

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Weekly Preview | US Non-Farm Payrolls and Powell's Monetary Policy Testimony Arrive! JD.com, Sea, and others will release their financial reports.

2023-02-22

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2023-02-20

[开心]

The "unsolved mystery" of India's richest man being targeted by short sellers: How exactly did Hindenburg short Adani?

2023-02-18

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Where did the people who took over China's massive internet business go?

2023-02-16

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Last night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.

2023-02-16

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2022-11-10

$纳斯达克(.IXIC)$

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JD.com, Sea, and others will release their financial reports.","url":"https://stock-news.laohu8.com/highlight/detail?id=1128373353","media":"老虎资讯综合","summary":"本周（3.6-3.10）重磅财经事件及数据如下：经济数据方面，本周将发布多个重要经济数据，其中，美国ADP就业人数、中国通胀数据、美国当周初请失业金人数、美国非农就业人口及失业率等将陆续公布。财经事件","content":"<p><html><head></head><body>The major financial events and data for this week (March 6-10) are as follows:</p><p>In terms of economic data, several important economic data will be released this week, including the US ADP employment figures, China's inflation data, the number of initial jobless claims in the US that week, the US non-farm payrolls, and the unemployment rate. Regarding financial events, Powell will deliver semi-annual monetary policy testimony before the Senate and House of Representatives on Tuesday and Wednesday, respectively, and the Federal Reserve will release its Beige Book on the state of the economy. In terms of financial reports, Ctrip, Sea, China Unicom, Yatsen E-commerce, JD.com, JD Logistics, ZTE, and Oracle will release their financial reports one after another.<img src=\"https://static.tigerbbs.com/bab17450ccf7887b75282b47453c9066\" tg-width=\"2059\" tg-height=\"1458\" referrerpolicy=\"no-referrer\"/><b>Keywords for Monday, March 6th: US factory order month-on-month rate, Lordstown Motors, Ctrip financial report</b><img src=\"https://static.tigerbbs.com/58464a035078da01287fc5da7977e623\" tg-width=\"950\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/></p><p>On Monday, regarding economic data, investors can focus on the month-on-month rate of U.S. factory orders.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors</a>Earnings reports will be released before the US stock market opens.<a href=\"https://laohu8.com/S/TCOM\">Ctrip</a>Earnings reports will be released after the US stock market closes.</p><p><b>Keywords for Tuesday, March 7th: Powell's monetary policy testimony, Sea earnings report</b></p><p><img src=\"https://static.tigerbbs.com/01a4219e07795ae584912828a498456c\" tg-width=\"955\" tg-height=\"1182\" referrerpolicy=\"no-referrer\"/></p><p>On Tuesday, economic data will be released, including China's trade balance and the monthly rate of U.S. wholesale sales.</p><p>Regarding financial events, Powell will deliver his semi-annual monetary policy testimony before the Senate and House of Representatives on Tuesday and Wednesday, respectively. The testimony is usually divided into two parts: the first part is Powell's prepared statement, and the second part is a question-and-answer session with the committee.</p><p>During the Q&A session, Powell will undoubtedly be asked about inflation and the possibility that the Federal Reserve's tightening policies could lead to a recession in the U.S. economy. If Powell indicates that it is unlikely to rate hike 50 basis points again in the near future, the dollar could face selling pressure and open the door for further gains in gold. According to CME group’s Fed Watch tool, the market expects a close to 30% chance of rate hike hitting 50 basis points at the next meeting. If Powell is not so hawkish, then US Treasury Bond yields and the dollar may still have room to decline.</p><p>On the other hand, Powell may choose to avoid committing to the size of the next rate hike and reiterate that the Federal Reserve will still rely on data. Under these circumstances, market trends are likely to remain volatile until the February non-farm payroll report is released. In Powell's testimony, his comments on the anti-inflation process and economic growth prospects were also important.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/SE\">Sea</a>Earnings reports will be released before the US stock market opens.</p><p><b>Keywords for Wednesday, March 8th: US ADP employment figures, Powell's monetary policy testimony, China Unicom's financial report</b></p><p><img src=\"https://static.tigerbbs.com/8340ee1c8a929f4a8d5b86610d4152d2\" tg-width=\"951\" tg-height=\"1322\" referrerpolicy=\"no-referrer\"/></p><p>On Wednesday, regarding economic data, investors should pay attention to the U.S. ADP employment figures, which are currently expected to be 168,000, up from the previous reading of 106,000.</p><p>Regarding financial events, Federal Reserve Chairman Jerome Powell will deliver his semi-annual monetary policy testimony before the House of Representatives.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/00762\">China Unicom</a>as well as<a href=\"https://laohu8.com/S/YSG\">Yixian E-commerce</a>Financial reports will be released separately,<a href=\"https://laohu8.com/S/FFIE\">Faraday Future Intelligent Electric Inc.</a>Earnings reports will also be released after the US stock market closes.</p><p><b>Keywords for Thursday, March 9th: China CPI, US initial jobless claims for the week, Federal Reserve Beige Book, JD.com earnings report</b></p><p><img src=\"https://static.tigerbbs.com/c49159c19ef5f8586206c44574300846\" tg-width=\"950\" tg-height=\"958\" referrerpolicy=\"no-referrer\"/></p><p>On Thursday, regarding economic data, investors should pay attention to the number of initial jobless claims in the United States that week. Since the beginning of January this year, the number of initial jobless claims has been below 200,000, which to some extent reflects the continued strength of the U.S. job market. For the Federal Reserve, while seeking to control inflation, it is also looking for signs of a cooling labor market, which also suggests that the Fed may not like the signals sent by initial jobless claims data. Strong employment data will undoubtedly increase the likelihood of Federal Reserve rate hike, with interest rate futures markets now officially pricing in a peak Fed rate of 5.5%.</p><p>In addition, China's inflation data will also be released today. Meanwhile, investors can pay attention to Chinese financial data, which will be released irregularly from the 9th to the 15th of each month.</p><p>Regarding financial events, the Federal Reserve will release its Beige Book on the state of the economy, which will provide investors with a deeper understanding of the US economy and should therefore be taken seriously.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/09618\">JD.com - SW</a>、<a href=\"https://laohu8.com/S/02618\">JD Logistics</a>Financial reports will be released, in addition<a href=\"https://laohu8.com/S/ORCL\">Oracle bone script</a>Earnings reports will also be released after the US stock market closes.</p><p>The market is eagerly awaiting JD.com's management's views on the \"10 billion yuan subsidy\" battle regarding JD.com's financial report. Morgan Stanley believes that JD.com's 10 billion yuan subsidy plan and its profit margin in 2023 may be the next catalyst for its stock price. The bank believes that the market has overestimated the incremental costs related to the 10 billion yuan subsidy. The bank believes that management's positive measures to improve profit margins may drive up the stock price. The bank maintained its \"overweight\" rating and $74 target price.</p><p><b>Keywords for Friday, March 10th: US non-farm payrolls, US unemployment rate, ZTE/Wuxin Technology financial report</b></p><p><img src=\"https://static.tigerbbs.com/0cdbea3d6406e540d8fc538b4154463e\" tg-width=\"951\" tg-height=\"1087\" referrerpolicy=\"no-referrer\"/></p><p>On Friday, in terms of economic data, the US will release its February non-farm payroll data, with market expectations for growth falling to 200,000. Non-farm payroll data has always been a focus of market attention and the \"number one enemy\" of the Federal Reserve stopping tightening. The explosive growth in non-farm payrolls in January and the unexpected decline in initial jobless claims last week all reveal that the US labor market remains strong. Investors will use this data to judge the resilience of the U.S. labor market and the extent of the Federal Reserve's rate hike at its March meeting.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/00763\">ZTE Corporation</a>、<a href=\"https://laohu8.com/S/RLX\">Fog Core Technology</a>Financial reports will be released.</p><p></body></html></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>Weekly Preview | US Non-Farm Payrolls and Powell's Monetary Policy Testimony Arrive! 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JD.com, Sea, and others will release their financial reports.\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\">2023-03-06 07:08</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The major financial events and data for this week (March 6-10) are as follows:</p><p>In terms of economic data, several important economic data will be released this week, including the US ADP employment figures, China's inflation data, the number of initial jobless claims in the US that week, the US non-farm payrolls, and the unemployment rate. Regarding financial events, Powell will deliver semi-annual monetary policy testimony before the Senate and House of Representatives on Tuesday and Wednesday, respectively, and the Federal Reserve will release its Beige Book on the state of the economy. In terms of financial reports, Ctrip, Sea, China Unicom, Yatsen E-commerce, JD.com, JD Logistics, ZTE, and Oracle will release their financial reports one after another.<img src=\"https://static.tigerbbs.com/bab17450ccf7887b75282b47453c9066\" tg-width=\"2059\" tg-height=\"1458\" referrerpolicy=\"no-referrer\"/><b>Keywords for Monday, March 6th: US factory order month-on-month rate, Lordstown Motors, Ctrip financial report</b><img src=\"https://static.tigerbbs.com/58464a035078da01287fc5da7977e623\" tg-width=\"950\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/></p><p>On Monday, regarding economic data, investors can focus on the month-on-month rate of U.S. factory orders.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors</a>Earnings reports will be released before the US stock market opens.<a href=\"https://laohu8.com/S/TCOM\">Ctrip</a>Earnings reports will be released after the US stock market closes.</p><p><b>Keywords for Tuesday, March 7th: Powell's monetary policy testimony, Sea earnings report</b></p><p><img src=\"https://static.tigerbbs.com/01a4219e07795ae584912828a498456c\" tg-width=\"955\" tg-height=\"1182\" referrerpolicy=\"no-referrer\"/></p><p>On Tuesday, economic data will be released, including China's trade balance and the monthly rate of U.S. wholesale sales.</p><p>Regarding financial events, Powell will deliver his semi-annual monetary policy testimony before the Senate and House of Representatives on Tuesday and Wednesday, respectively. The testimony is usually divided into two parts: the first part is Powell's prepared statement, and the second part is a question-and-answer session with the committee.</p><p>During the Q&A session, Powell will undoubtedly be asked about inflation and the possibility that the Federal Reserve's tightening policies could lead to a recession in the U.S. economy. If Powell indicates that it is unlikely to rate hike 50 basis points again in the near future, the dollar could face selling pressure and open the door for further gains in gold. According to CME group’s Fed Watch tool, the market expects a close to 30% chance of rate hike hitting 50 basis points at the next meeting. If Powell is not so hawkish, then US Treasury Bond yields and the dollar may still have room to decline.</p><p>On the other hand, Powell may choose to avoid committing to the size of the next rate hike and reiterate that the Federal Reserve will still rely on data. Under these circumstances, market trends are likely to remain volatile until the February non-farm payroll report is released. In Powell's testimony, his comments on the anti-inflation process and economic growth prospects were also important.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/SE\">Sea</a>Earnings reports will be released before the US stock market opens.</p><p><b>Keywords for Wednesday, March 8th: US ADP employment figures, Powell's monetary policy testimony, China Unicom's financial report</b></p><p><img src=\"https://static.tigerbbs.com/8340ee1c8a929f4a8d5b86610d4152d2\" tg-width=\"951\" tg-height=\"1322\" referrerpolicy=\"no-referrer\"/></p><p>On Wednesday, regarding economic data, investors should pay attention to the U.S. ADP employment figures, which are currently expected to be 168,000, up from the previous reading of 106,000.</p><p>Regarding financial events, Federal Reserve Chairman Jerome Powell will deliver his semi-annual monetary policy testimony before the House of Representatives.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/00762\">China Unicom</a>as well as<a href=\"https://laohu8.com/S/YSG\">Yixian E-commerce</a>Financial reports will be released separately,<a href=\"https://laohu8.com/S/FFIE\">Faraday Future Intelligent Electric Inc.</a>Earnings reports will also be released after the US stock market closes.</p><p><b>Keywords for Thursday, March 9th: China CPI, US initial jobless claims for the week, Federal Reserve Beige Book, JD.com earnings report</b></p><p><img src=\"https://static.tigerbbs.com/c49159c19ef5f8586206c44574300846\" tg-width=\"950\" tg-height=\"958\" referrerpolicy=\"no-referrer\"/></p><p>On Thursday, regarding economic data, investors should pay attention to the number of initial jobless claims in the United States that week. Since the beginning of January this year, the number of initial jobless claims has been below 200,000, which to some extent reflects the continued strength of the U.S. job market. For the Federal Reserve, while seeking to control inflation, it is also looking for signs of a cooling labor market, which also suggests that the Fed may not like the signals sent by initial jobless claims data. Strong employment data will undoubtedly increase the likelihood of Federal Reserve rate hike, with interest rate futures markets now officially pricing in a peak Fed rate of 5.5%.</p><p>In addition, China's inflation data will also be released today. Meanwhile, investors can pay attention to Chinese financial data, which will be released irregularly from the 9th to the 15th of each month.</p><p>Regarding financial events, the Federal Reserve will release its Beige Book on the state of the economy, which will provide investors with a deeper understanding of the US economy and should therefore be taken seriously.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/09618\">JD.com - SW</a>、<a href=\"https://laohu8.com/S/02618\">JD Logistics</a>Financial reports will be released, in addition<a href=\"https://laohu8.com/S/ORCL\">Oracle bone script</a>Earnings reports will also be released after the US stock market closes.</p><p>The market is eagerly awaiting JD.com's management's views on the \"10 billion yuan subsidy\" battle regarding JD.com's financial report. Morgan Stanley believes that JD.com's 10 billion yuan subsidy plan and its profit margin in 2023 may be the next catalyst for its stock price. The bank believes that the market has overestimated the incremental costs related to the 10 billion yuan subsidy. The bank believes that management's positive measures to improve profit margins may drive up the stock price. The bank maintained its \"overweight\" rating and $74 target price.</p><p><b>Keywords for Friday, March 10th: US non-farm payrolls, US unemployment rate, ZTE/Wuxin Technology financial report</b></p><p><img src=\"https://static.tigerbbs.com/0cdbea3d6406e540d8fc538b4154463e\" tg-width=\"951\" tg-height=\"1087\" referrerpolicy=\"no-referrer\"/></p><p>On Friday, in terms of economic data, the US will release its February non-farm payroll data, with market expectations for growth falling to 200,000. Non-farm payroll data has always been a focus of market attention and the \"number one enemy\" of the Federal Reserve stopping tightening. The explosive growth in non-farm payrolls in January and the unexpected decline in initial jobless claims last week all reveal that the US labor market remains strong. Investors will use this data to judge the resilience of the U.S. labor market and the extent of the Federal Reserve's rate hike at its March meeting.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/00763\">ZTE Corporation</a>、<a href=\"https://laohu8.com/S/RLX\">Fog Core Technology</a>Financial reports will be released.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d256e82db1d71c864259845ce1d069bf","relate_stocks":{"SPY":"标普500ETF","JD":"京东","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","DJX":"1/100道琼斯","GDX":"黄金矿业ETF-VanEck",".DJI":"道琼斯","LU2257852520.SGD":"JPMorgan Funds - Asia Growth A (acc) SGD","IE00BGV7N243.SGD":"FSSA Global Emerging Markets Focus I Acc SGD","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","09618":"京东集团-SW",".IXIC":"NASDAQ Composite","BK1591":"就地过年概念","BK1502":"双十一","BK4581":"高盛持仓","UDOW":"三倍做多道指30ETF-ProShares"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128373353","content_text":"本周（3.6-3.10）重磅财经事件及数据如下：经济数据方面，本周将发布多个重要经济数据，其中，美国ADP就业人数、中国通胀数据、美国当周初请失业金人数、美国非农就业人口及失业率等将陆续公布。财经事件方面，鲍威尔在周二和周三将分别于参、众两院发表半年度货币政策证词，此外美联储将公布经济状况褐皮书。财报方面，携程网、Sea、中国联通、逸仙电商、京东、京东物流、中兴通讯以及甲骨文等将陆续发布财报。3月6日 周一关键词：美国工厂订单月率、Lordstown Motors、携程网财报周一，经济数据方面，投资者可关注美国工厂订单月率。财报方面，Lordstown Motors将于美股盘前公布财报，而携程网将于美股盘后公布财报。3月7日 周二关键词：鲍威尔发表货币政策证词、Sea财报周二，经济数据方面将公布中国贸易帐，以及美国批发销售月率等数据。财经事件方面，鲍威尔在周二和周三将分别于参、众两院发表半年度货币政策证词，证词通常分为两部分，第一部分是鲍威尔准备好的陈述，第二部分是与委员会的问答环节。在问答环节，鲍威尔肯定会被问及通胀问题，以及美联储收紧政策导致美国经济陷入衰退的可能性。如果鲍威尔表示在不久的将来不太可能再次加息50个基点，美元可能面临抛售压力，并为黄金的进一步上涨打开大门。根据芝商所的美联储观察工具，市场预期下一次会议加息50个基点的可能性接近30%，如果鲍威尔没有那么“鹰”，那么美国国债收益率和美元或仍有下行空间。另一方面，鲍威尔可能选择避免承诺下一次加息的规模，并重申美联储仍将依赖于数据。这种情况下，在2月非农就业报告公布之前，市场走势可能仍将震荡。在鲍威尔的证词中，其对反通胀进程和经济增长前景的评论也很重要。财报方面，Sea将于美股盘前公布财报。3月8日 周三关键词：美国ADP就业人数、鲍威尔发表货币政策证词、中国联通财报周三，经济数据方面，投资者可关注美国ADP就业人数，目前市场预期为16.8万，高于10.6万的前值。财经事件方面，美联储主席鲍威尔将在众议院发表半年度货币政策证词。财报方面，中国联通以及逸仙电商将分别发布财报，另外Faraday Future Intelligent Electric Inc.也将于美股盘后公布财报。3月9日 周四关键词：中国CPI、美国当周初请失业金、美联储褐皮书、京东财报周四，经济数据方面，投资者可关注美国当周初请失业金人数，自今年1月初以来，初请失业金人数便一直低于20万人，这在一定程度体现了美国就业市场依然强劲。对于美联储来说，在寻求控制通货膨胀的同时，也在寻找劳动力市场降温的迹象，这也说明美联储可能不喜欢初请失业金数据发出的信号。强劲的就业数据无疑将加大美联储加息的可能，目前利率期货市场已正式定价美联储利率峰值将升至5.5%。另外，中国通胀数据也将于今日公布。同时，投资者可关注中国金融数据，该系列数据将于每月9日-15日不定时发布。财经事件方面，美联储将公布经济状况褐皮书，投资者可以从中对美国经济有更深的了解，因此也需引起重视。财报方面，京东集团-SW、京东物流将公布财报，此外甲骨文在美股盘后也将公布财报。对于京东财报，市场在期待京东管理层对“百亿补贴”大战的观点。大摩认为，京东推出的100亿元补贴计划以及2023年的利润率或为下一个股价催化剂。该行认为，市场已高估与100亿元补贴有关的增量费用。该行认为，管理层对利润率的利好举措或推动股价上行。该行维持“增持”评级与74美元目标价。3月10日 周五关键词：美国非农就业人口、美国失业率、中兴通讯/雾芯科技财报周五，经济数据方面，美国将公布2月非农，市场预期增幅回落至20万。 非农就业数据一直是市场关注的焦点，也是美联储停止紧缩的“头号敌人”，1月非农爆炸性的增长幅度以及上周的初请失业金人数意外下滑，都无不揭示着美国劳动力市场依旧坚挺。投资者将通过这些数据来判断美国劳动力市场的坚韧程度以及美联储3月会议的加息幅度到底如何。财报方面，中兴通讯、雾芯科技将发布财报。","news_type":1,"symbols_score_info":{"MGCmain":0.9,"GDX":0.9,"GCmain":0.9,"NQmain":0.9,"SPY":0.9,"MNQmain":0.9,".IXIC":0.9,"09618":0.9,"SImain":0.9,".DJI":0.9,"JD":0.9,"DJX":0.9,"UDOW":0.9}},"isVote":1,"tweetType":1,"viewCount":4898,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":624987125,"gmtCreate":1677027749368,"gmtModify":1677027749368,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/624987125","repostId":"1163512053","repostType":2,"isVote":1,"tweetType":1,"viewCount":4734,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":625775545,"gmtCreate":1676886999088,"gmtModify":1676886999088,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[开心]&nbsp;","listText":"[开心]&nbsp;","text":"[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/625775545","repostId":"1150914566","repostType":2,"repost":{"id":"1150914566","kind":"news","pubTimestamp":1676884353,"share":"https://ttm.financial/m/news/1150914566?lang=en_US&edition=fundamental","pubTime":"2023-02-20 17:12","market":"other","language":"zh","title":"The \"unsolved mystery\" of India's richest man being targeted by short sellers: How exactly did Hindenburg short Adani?","url":"https://stock-news.laohu8.com/highlight/detail?id=1150914566","media":"华尔街见闻","summary":"在新加坡运用了单一股票期货或许是兴登堡做空阿达尼的“谜底”。要想在印度做空一家公司并不容易，而兴登堡几乎没有透露有关其押注规模以及使用的衍生品和参考证券种类的具体信息，这不禁让市场对于其如何能让阿达尼","content":"<p><html><head></head><body><b>The use of single stock futures in Singapore may be the \"answer\" to Hindenburg's short selling of Adani.</b>It is not easy to short a company in India, and Hindenburg has revealed little specifics about the size of his bets and the types of derivatives and reference securities used, leaving the market curious about how he was able to shrink Adani's total market capitalization by more than $100 billion in a week.</p><p>On February 17, media outlets quoted investors familiar with the company's operations as saying,<b>Hindenburg may have used the help of single stock futures and Singapore banks to carry out his short-selling plan.</b>。</p><p>according to<b>Indian securities rules require institutional investors to disclose their short positions in advance, and there are other restrictions and requirements for foreign investors.</b>This makes it difficult for investors to quietly build positions.</p><p>At the same time, Adani Group companies have very little free float in the stock market, which has become another problem for short selling, and India does not allow so-called \"naked short selling,\" where investors can bet that a stock will fall without having to borrow the underlying security first.</p><p>Gabriel Grego, hedge fund manager at Quintessential Capital, said:</p><p>“Last summer, I briefly paid attention to Adani, and a key reason I decided not to investigate further was the difficulty of shorting in India.” (Offshore derivatives trading in Singapore)</p><p>In media interviews, three hedge funds said that investors looking to short Indian companies can use India's main stock index, the Nifty 50, of which Adani Enterprises is one of the largest constituents.</p><p>Analysts believe that Hindenburg's bets should include a significant portion of derivatives trading linked to Indian stocks.</p><p>Short sellers choose to conduct such transactions in Singapore, where they can create a type of transaction called Single Stock Futures (SSF), which is a futures contract based on a single stock. These stock derivatives give investors access to the price movements of the relevant stocks.</p><p>Taking Hindenburg as an example, it can trade using Adani Enterprises' weighting in the Indian index.</p><p>The disadvantage of these instruments is that the market is very liquid, which means that the bets are often relatively small. Short sellers typically use other derivatives such as credit default swaps to increase their bets, but analysts point out that this is not possible in Hindenburg's case because the group is not included in the CDS index.</p><p>Soren Aandahl, chief investment officer of Blue Orca Capital, an activist short investment firm in the United States, said:</p><p>\"Shorting Indian stocks requires trading in overseas markets, which is a complex requirement of the Indian system; you cannot short directly.\" (Looking for partners to help with their investigation.)</p><p>Media analysts believe that Hindenburg tended to cooperate with other short sellers when releasing his short-selling investigation report.<b>Although Hindenburg repeatedly declined to say whether the company was working with other Adani investors in the investigation, the disclaimer in the short-selling report suggested that it might have multiple collaborators.</b>。</p><p>At the same time, why Hindenburg turned his attention to Adani and spent two years conducting in-depth investigations is also a focus of market discussion.</p><p>Media outlets, citing two people familiar with the process, reported that Hindenburg sought the help of an external analyst focused on Indian companies to investigate Adani. The analyst led a team of five Hindenburg employees in the investigation, and the team decided to release a short-selling report on the eve of Adani's plan to sell $2.4 billion in shares last month.</p><p></body></html></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>The \"unsolved mystery\" of India's richest man being targeted by short sellers: How exactly did Hindenburg short Adani?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe \"unsolved mystery\" of India's richest man being targeted by short sellers: How exactly did Hindenburg short Adani?\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\">2023-02-20 17:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>The use of single stock futures in Singapore may be the \"answer\" to Hindenburg's short selling of Adani.</b>It is not easy to short a company in India, and Hindenburg has revealed little specifics about the size of his bets and the types of derivatives and reference securities used, leaving the market curious about how he was able to shrink Adani's total market capitalization by more than $100 billion in a week.</p><p>On February 17, media outlets quoted investors familiar with the company's operations as saying,<b>Hindenburg may have used the help of single stock futures and Singapore banks to carry out his short-selling plan.</b>。</p><p>according to<b>Indian securities rules require institutional investors to disclose their short positions in advance, and there are other restrictions and requirements for foreign investors.</b>This makes it difficult for investors to quietly build positions.</p><p>At the same time, Adani Group companies have very little free float in the stock market, which has become another problem for short selling, and India does not allow so-called \"naked short selling,\" where investors can bet that a stock will fall without having to borrow the underlying security first.</p><p>Gabriel Grego, hedge fund manager at Quintessential Capital, said:</p><p>“Last summer, I briefly paid attention to Adani, and a key reason I decided not to investigate further was the difficulty of shorting in India.” (Offshore derivatives trading in Singapore)</p><p>In media interviews, three hedge funds said that investors looking to short Indian companies can use India's main stock index, the Nifty 50, of which Adani Enterprises is one of the largest constituents.</p><p>Analysts believe that Hindenburg's bets should include a significant portion of derivatives trading linked to Indian stocks.</p><p>Short sellers choose to conduct such transactions in Singapore, where they can create a type of transaction called Single Stock Futures (SSF), which is a futures contract based on a single stock. These stock derivatives give investors access to the price movements of the relevant stocks.</p><p>Taking Hindenburg as an example, it can trade using Adani Enterprises' weighting in the Indian index.</p><p>The disadvantage of these instruments is that the market is very liquid, which means that the bets are often relatively small. Short sellers typically use other derivatives such as credit default swaps to increase their bets, but analysts point out that this is not possible in Hindenburg's case because the group is not included in the CDS index.</p><p>Soren Aandahl, chief investment officer of Blue Orca Capital, an activist short investment firm in the United States, said:</p><p>\"Shorting Indian stocks requires trading in overseas markets, which is a complex requirement of the Indian system; you cannot short directly.\" (Looking for partners to help with their investigation.)</p><p>Media analysts believe that Hindenburg tended to cooperate with other short sellers when releasing his short-selling investigation report.<b>Although Hindenburg repeatedly declined to say whether the company was working with other Adani investors in the investigation, the disclaimer in the short-selling report suggested that it might have multiple collaborators.</b>。</p><p>At the same time, why Hindenburg turned his attention to Adani and spent two years conducting in-depth investigations is also a focus of market discussion.</p><p>Media outlets, citing two people familiar with the process, reported that Hindenburg sought the help of an external analyst focused on Indian companies to investigate Adani. The analyst led a team of five Hindenburg employees in the investigation, and the team decided to release a short-selling report on the eve of Adani's plan to sell $2.4 billion in shares last month.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3682319\">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/80649335d6dae03eb8ec03694c71b6e0","relate_stocks":{},"source_url":"https://wallstreetcn.com/articles/3682319","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150914566","content_text":"在新加坡运用了单一股票期货或许是兴登堡做空阿达尼的“谜底”。要想在印度做空一家公司并不容易，而兴登堡几乎没有透露有关其押注规模以及使用的衍生品和参考证券种类的具体信息，这不禁让市场对于其如何能让阿达尼总市值在一周内缩水超过 1000 亿美元感到好奇。2月17日，媒体援引熟悉该公司运作方式的投资者话称，兴登堡或许运用了单一股票期货和新加坡银行的帮助来开展他的做空计划。根据印度证券规则要求机构投资者提前披露其空头头寸，针对外国投资者还有其他限制和要求，这就使得投资者很难悄悄建仓。与此同时，阿达尼集团的公司在股市上的自由流通量很小，这成为了做空的另一个问题，且印度不允许所谓的“裸卖空”，即投资者无需先借入标的证券就可以押注股票会下跌。Quintessential Capital 的对冲基金经理Gabriel Grego表示：“去年夏天，我曾短暂关注过阿达尼，我决定不进一步调查的重要原因便是在印度做空很困难。 ”新加坡进行的离岸衍生品交易三家对冲基金接受媒体采访时表示，想要做空印度公司的投资者可以使用印度的主要股票指数 Nifty 50，而Adani Enterprises 是其中最大的成分股之一。分析认为，兴登堡的押注中应该包含相当大一部分的以印度股票挂钩的衍生品交易。而去新加坡进行该类交易是卖空者们的选择，在新加坡可以创建一种称为单一股票期货（SSF）的交易，即以单一股票为标的的期货合约。这些股票衍生品使投资者能够接触到相关股票的价格变动。以兴登堡为例，其可以运用 Adani Enterprises 在印度指数中的权重值，进行交易。这类工具的缺点是市场流动性很小，这意味着押注往往相对较小。做空者通常会使用信用违约互换等其他衍生品来增加赌注，但分析指出，这在 兴登堡的案例中是不可能的，因为该集团未出现在 CDS 指数中。美国激进空头投资机构 Blue Orca Capital 的首席投资官Soren Aandahl 表示：“做空印度股票必须在海外市场进行交易，这是印度系统的复杂要求，你无法直接做空。”寻找帮助其调查的伙伴媒体分析认为，兴登堡在发布做空调查报告时，倾向于与其他空头合作。尽管兴登堡一再拒绝透露该公司是否与阿达尼的其他投资者合作进行调查，但做空报告中的免责声明里暗示其可能有多个合作者。与此同时，为何兴登堡会将目光转向阿达尼，且不惜花费两年时间进行深度调查也是市场讨论的焦点。媒体援引两名了解该过程的人士表示，兴登堡曾寻求一位专注于印度公司的外部分析师的帮助来调查阿达尼，这位分析师领导了兴登堡的5名员工组成的团队进行了这项调查，且该团队决定在阿达尼上个月计划出售24亿美元的股票前夕发布做空报告。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4652,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":625703874,"gmtCreate":1676729787600,"gmtModify":1676729787600,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/625703874","repostId":"1117714701","repostType":2,"repost":{"id":"1117714701","kind":"news","weMediaInfo":{"introduction":"华商人物与企业新媒体第一殿堂。","home_visible":1,"media_name":"华商韬略","id":"27","head_image":"https://static.tigerbbs.com/08f34cc62ee54134a6a68fe6538c26f8"},"pubTimestamp":1676637724,"share":"https://ttm.financial/m/news/1117714701?lang=en_US&edition=fundamental","pubTime":"2023-02-17 20:42","market":"hk","language":"zh","title":"Where did the people who took over China's massive internet business go?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714701","media":"华商韬略","summary":"他，有什么特别的？他的失联，为什么值得特别关注？","content":"<p><html><head></head><body>Author | Huashang Taolue</p><p>Last night, the news of the disappearance of Bao Fan, founder and chairman of China Renaissance Capital, attracted widespread attention and even shocked the financial community, especially the financial sector and the new internet economy.</p><p>What's so special about him? Why does his disappearance deserve special attention?</p><p><img src=\"https://static.tigerbbs.com/20298e6c23a6ba6b725c6619e18480d3\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>On Valentine's Day 2015, big news broke from the Chinese business community: Didi and Kuaidi jointly announced that the two companies would achieve a strategic merger.</p><p>The news shocked the market. Just a few days earlier, the two companies were engaged in a fierce battle. Later disclosures revealed that the two sides had already begun negotiations as early as January of that year, but the process was challenging and the confidentiality work was done well enough.</p><p>The deal was spearheaded by Bao Fan and his China Renaissance Capital.</p><p>According to Bao Fan's recollection, the negotiations between the two sides were full of tension at the beginning. \"I used to be a general in the army, and we fought to the death. Suddenly we sat at the same table, and they were so reluctant to see each other that they didn't even want to meet.\"</p><p>Ultimately, the core negotiations between the two sides lasted a full 13 hours, with Bao Fan constantly mediating during the standoff: \"What is the ultimate goal of fighting this battle now, and what is the pattern we want to form?\"</p><p>\"We need to tell them in a rational way that we can't fight for the sake of fighting... We absolutely can't 'smooth things over.' We try our best to pull both sides towards the middle line, and we need to explain clearly that this middle line is reasonable. We can't let either side suffer.\"</p><p>This is just one of Bao Fan's many success stories.</p><p>Tencent's collaboration with JD.com, Youku's merger with Tudou, 58's merger with Ganji's, Meituan's merger with Dianping, Maoyan's merger with Weiying, Meituan's acquisition of Mobike, and Momo's acquisition of Tantan—Bao Fan was a crucial figure in these major collaborations and transactions, and his subsidiary, China Renaissance Capital, continued to participate in them in the core role and capacity of exclusive financial advisor.</p><p>These high-profile cases are just a small part of Bao Fan and Huaxing's business.</p><p>From the early IPOs of Dangdang, JD.com, Meituan, Weibo, and iQiyi, to the major projects of WuXi AppTec, Beike (Lianjia), Nio, Nanwei Medical, Bloomage Biotechnology, MicroPort Medical, MicroPort Xintong, Bilibili, Pop Mart, and Kuaishou in recent years, Bao Fan and China Renaissance Capital have all played important roles.</p><p>Since 2013, China Renaissance Capital has consistently ranked first among China's investment banks in providing financing and M&A services to China's new economy companies. Bao Fan is therefore hailed as the \"King of Financial Services in China's New Economy\".</p><p>Some say that the big deal in China's new internet economy has been completed by Bao Fan.</p><p>In recent years, with the development of its investment banking and investment businesses, China Renaissance Capital has achieved a winner-take-all situation in the financial services business of the new economy. It not only deeply ties the new economy giants to the very end, but also penetrates the very depths of the industrial chain.</p><p>For example, JD.com. From JD.com's financing and IPO to JD Health, JD Logistics and other core businesses under JD, Huaxing acts as a financial advisor, investor, IPO sponsor and underwriter.</p><p>For example, shells. Huaxing first acquired a 3.8% stake in Beike Co., Ltd. before its IPO through multiple rounds of investment exceeding 3 billion yuan, becoming its fifth largest shareholder. It also served as a financial advisor in its multiple rounds of financing and then as a joint lead underwriter when it went public in the United States. In its early stages alone, Huaxing achieved unrealized profits exceeding 10 billion yuan.</p><p>For example, Kuaishou. Huaxing not only invested in Kuaishou with its new economy fund, but also served as a financial advisor in Kuaishou's financing, and acted as a joint sponsor for Kuaishou's listing in Hong Kong together with Morgan Stanley and Bank of America.</p><p><img src=\"https://static.tigerbbs.com/9c380b1d3fd3ec6a5d40877fc656bbab\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>Bao Fan was born in Shanghai in 1970. His grandfather was a senior executive at Zhejiang Bank before the founding of the People's Republic of China, and his parents were diplomats.</p><p>As a teenager, Bao Fan was taken by his elders to eat Western food and broaden his horizons, while also listening to stories about Shanghai's stock market and the legends of banking tycoons. Although he didn't quite understand, Bao Fan had a vague feeling that the banking profession was mysterious and fun.</p><p>Rebellion is synonymous with the young Bao Fan. Because his parents lived away from home for many years and he boarded at school from a young age, he developed an unrestrained personality. He also had to face school bullying alone, which spurred him to practice mixed martial arts. He not only made fighting the main theme of his life, but also brought along a group of brothers and became the \"boss\" of the school.</p><p>However, none of this deterred his studies, and he was still admitted to Fudan University with excellent grades.</p><p>Soon, most school disputes could be resolved by seeking mediation from Bao Fan. Today, Bao Fan's ability to handle so many entangled interests and sharp conflicts in business mergers and acquisitions may stem from his early experience as a \"boss\".</p><p>At Huaxing, Bao Fan is not addressed as General Manager Bao or Chairman Bao, but as \"Boss\".</p><p><img src=\"https://static.tigerbbs.com/eb5cba80fd3923a8dbeed6b175e23370\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>After graduating from Fudan University and the Norwegian Institute of Management, Bao Fan joined the top investment bank Morgan Stanley in 1993, fulfilling his childhood dream.</p><p>Just a few years after graduating from university, Bao Fan was constantly collaborating with the world's top tycoons, discussing business deals worth billions or even tens of billions of dollars. The excitement and glory this job brought far exceeded the thrill of making money.</p><p>Bao Fan participated in the entire process of Novartis' acquisition, China Unicom and AsiaInfo Technologies' overseas listing. He had only been working for a few years and had already served as a financial advisor for several multinational companies. However, he was restless and began to constantly ask himself questions. Ultimately, he did not like a stable job and needed greater stimulation, such as entrepreneurship.</p><p>In 2000, when managing AsiaInfo's IPO, Bao Fan felt that he got along well with the startup team, so he immediately joined AsiaInfo as its chief strategy officer.</p><p>AsiaInfo can be considered the \"progenitor\" of Chinese internet companies. It undertook all the backbone network projects of China Mobile, China Unicom, and China Telecom, and is known as the \"chief architect of China's internet\". Here, Bao Fan handles management and strategy setting, and gets along well with many high-tech peers.</p><p>As his work progressed, he made another significant discovery: these high-tech companies had grown rapidly in recent years, had great needs for financing and mergers and acquisitions, but were quite unfamiliar with the capital market.</p><p>This caught his eye: Isn't this an entrepreneurial opportunity?!</p><p><img src=\"https://static.tigerbbs.com/2ed7d0bf766821d25024cbbe20e9ae97\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>In 2004, Bao Fan hired a Tsinghua University girl to serve as both an analyst and secretary at the International Club outside Jianguomen, and that's how the two of them opened Huaxing Capital.</p><p>That year, the domestic capital market developed rapidly, and foreign giants such as Credit Suisse, Deutsche Bank, Goldman Sachs, and Merrill Lynch were all trying to find ways to enter the Chinese market.</p><p>How can Huaxing, which is outnumbered and weak, gain a foothold?</p><p>Bao Fan saw an opportunity: China's startups and private economy were rising, with small-scale financing and mergers and acquisitions constantly occurring, but large investment banks basically looked down on these.</p><p>This ultimately led Bao Fan to define an \"investment banking + investment\" model that focuses on the new economy:</p><p>Instead of focusing on scale, we pursue a professional, meticulous, and in-depth approach, targeting the high-tech new economy and acting as both financial advisors and small-scale equity investors.</p><p>Back then, most emerging entrepreneurs were \"confused\" by capital: they could not explain their development direction, financing needs, core competitiveness, recognize their own value, and knew nothing about law, finance, strategy, etc. When raising funds, they either fail to convince investors or become vassals of capital.</p><p>Bao Fan's plan was to leave these troubles to Huaxing.</p><p>If you need to find investors, Huaxing can help you handle it. If you need to negotiate with investors, Huaxing will help you handle it. I don't know how to value it, I don't know how to write a financing agreement, but Huaxing can handle everything, and they can \"leave the things that hurt our feelings to us.\" One-stop solution.</p><p>When he encounters a particularly good company, Bao Fan will symbolically invest in it, working together, losing together, and winning together.</p><p>With the rapid development of the new internet economy, Huaxing quickly got back on track and made a name for itself. In just 2006 and 2007, it completed tens of billions of yuan in private equity financing for companies such as Zhengtu Network, 21st Century Real Estate, Qihoo, and Dangdang, winning titles such as \"Most Active Small and Medium-sized Investment Bank\" and \"Best New Investment Bank of the Year\".</p><p>Later, people referred to this \"small but beautiful\" business model as \"boutique investment banking\".</p><p>Building on this foundation, Bao Fan began to further solidify his investment banking business, expanding into IPO sponsorship and underwriting. Such demand is gradually emerging in the market.</p><p>The investment banking business appears to be highly competitive and fair on the surface, but in reality, hierarchies of contempt created by ethnicity and nationality are ubiquitous.</p><p>In 2010, Dangdang.com successfully went public on the New York Stock Exchange, with its stock price surging 86.94%. However, Li Guoqing, the biggest beneficiary, flew into a rage and engaged in a verbal spat with the \"big movie girl\" on Weibo. The reason is that before the IPO, Dangdang's underwriter, Morgan Stanley, forced him to sell at a discount to the offering price, resulting in Dangdang raising a lot less money, and Li Guoqing became the biggest victim.</p><p>As the financial advisor for this project, Bao Fan realized early on that the financial industry has a strong national character.</p><p>For example, in large investment banks, Chinese people who are proficient in mathematics and hardworking act as grassroots financial \"migrant workers\"; Indians occupy middle management positions; At the highest level, there will always be Jews and Anglo-Saxons. Chinese companies listing overseas may appear glamorous on the surface, but in reality, they suffer from various unfair treatments.</p><p>Dangdang's experience made his feelings even more painful.</p><p>American investors are also prejudiced against Chinese companies. They're too lazy to understand business models and always want you to find analogies: no matter if you're Alibaba, Ctrip, Sina, or Baidu, no matter how powerful you are in China, when listing in the US, you have to find a company that \"benchmarks\" against the US market. Otherwise, American investors won't understand and will suspect that your company is shady.</p><p>This prompted Bao Fan to reflect: how can Chinese people break through and win a place on Wall Street?</p><p>His answer is that we must break the listing monopoly of European and American investment banks.</p><p>Although he was unconvinced, China Renaissance Capital had no chance of winning if it got involved at the time. However, Bao Fan was determined to participate even if it meant losing money.</p><p>This is also a lesson he learned in combat: \"When you are knocked down, you must never back down; you must fight back immediately.\"</p><p>Starting in 2012, Huaxing began to focus its efforts on becoming a true investment bank, and successively obtained securities firm licenses in Hong Kong and the United States. From then on, Chinese companies went public in the United States with the support of their own Chinese investment banks.</p><p>This time, Bao Fan was right again.</p><p>In June 2013, Huaxing, which had just obtained its US brokerage license, completed its first IPO: becoming the only local sub-underwriter for LightInTheBox, the first cross-border e-commerce company to list on the New York Stock Exchange.</p><p>This is the first time a Chinese investment bank has underwritten a US stock IPO.</p><p>Securing this big deal was partly due to Bao Fan's personal connections. He and Guo Quji, chairman of LightInTheBox, have been \"good friends\" for many years: when Guo Quji was the chief strategy officer at Google China, it was Bao Fan who \"encouraged\" him to go into the sea.</p><p>But later, as more and more Chinese companies went to the United States, Huaxing quickly became a dark horse in the market by perfectly keeping pace with the market rhythm and having a first-mover advantage. By 2018, it was the seventh largest underwriter on Wall Street.</p><p><img src=\"https://static.tigerbbs.com/59bf3b8c01164edc1497fc767fc6b48b\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>▲ Bao Fan at the 2018 Top Ten Economic Figures of the Year Awards Ceremony</p><p>Beike, with a market capitalization of over $70 billion that year, was listed on the New York Stock Exchange, with Huaxing serving as the lead underwriter. Wuxin Technology, with a market capitalization of over $40 billion, went public on the New York Stock Exchange, with China Renaissance Capital and Citigroup serving as its underwriters.</p><p>In addition to its success in the US stock market, Huaxing is also making great strides in the Hong Kong market: Meituan is listed in Hong Kong, and Huaxing is the exclusive financial advisor/joint global coordinator; JD.com is listed in Hong Kong, and China Renaissance Capital is the joint global coordinator, joint bookrunner, and joint lead manager. Kuaishou's IPO, with Huaxing as joint sponsor...</p><p>As early as June 30, 2020, China Renaissance had helped clients successfully complete more than 980 transactions, including initial public offerings, mergers and acquisitions, and private equity financings, with a total transaction value of over US$146 billion, making it the largest in China's new economy sector at the time.</p><p><img src=\"https://static.tigerbbs.com/3e628ffa6dbc249571eaaca53c99e6c4\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>The partnership with JD.com is another example of Huaxing Capital's operations.</p><p>As early as 2006, Bao Fan met Liu Qiangdong and believed that he was capable, loyal, and capable of success. However, Huaxing missed out on JD.com's several rounds of financing. Bao Fan is the kind of person who never gives up until he reaches the Yellow River:</p><p>\"I refuse to believe this. We must do something for JD.com.\"</p><p>In 2011, during JD.com's Series C funding round, Liu Qiangdong finally approached Bao Fan, asking for $1 billion. Bao Fan's first impression was: Liu Qiangdong had gone mad. When Shanda went public in the United States in 2009, the amount of funding raised was only about this.</p><p>Bao Fan gritted his teeth and accepted this ultimate move that most people couldn't withstand.</p><p>Just then, Yuri, an old friend of China Renaissance Capital and founder of Russia's Digital Sky Technology (DST), came to China. Bao Fan took this \"Russian tycoon\" to JD.com and spent $500 million in one go.</p><p>Tiger Management and SoftBank immediately followed suit, raising an unprecedented $1.5 billion. Through this pivotal battle in JD.com's history, Bao Fan became deeply integrated with JD.com. Subsequently, China Renaissance became the co-lead underwriter of JD.com's $2.05 billion IPO, setting a record for the largest financing of a Chinese concept stock at the time, and continued until the subsequent healthy listing of JD.com.</p><p>Many companies are willing to partner with Huaxing, which is inseparable from Huaxing's professional capabilities. Since its inception, Bao Fan has prioritized building a top-notch professional team in the company's development, constantly offering high salaries to find and poach talent. As early as 2017, the average salary per employee at Huaxing had already reached 1.2 million RMB.</p><p>The elite team is Huaxing's hallmark. Bao Fan's greater advantage over other industry players is inseparable from his expertise beyond his professional skills:</p><p>“If a company chooses Huaxing, we will use all of Huaxing’s resources to support it, and we will never abandon it even when it is in its most difficult time. Once we make friends, we will go to great lengths and be loyal to each other.”</p><p>Bao Fan said that Huaxing did many projects in its early years, but they didn't even have contracts. They just shook hands and got it done. \"Frankly speaking, what we do, others can do too. Why are people willing to cooperate with us?\"</p><p>He believes that the most important thing is to \"treat each other with sincerity\".</p><p>“Huaxing has been quite active since its founding. That’s just my personality. I’m not short of food. If you want to cooperate, you can cooperate, but you should be happy to cooperate together. Not only should you make a deal, but you should also be friends after the deal. That’s true cooperation.”</p><p>Bao Fan is a financial expert, but his expertise is merely a means and technique. What he truly pursues and upholds is humanity and human relationships.</p><p>He said, \"Favors are like a bank account. When others help you, they are withdrawing money. If you keep withdrawing money, you will eventually run out of money. So you have to help others and keep saving money so that you can have more and more money.\"</p><p>Therefore, he believes that when doing business, \"don't just look at profits; value relationships.\"</p><p>\"First, don't overdo anything. Give in to others if you can. If you can earn 10 yuan, earn 5 yuan and leave 5 yuan for others. Second, be grateful and repay kindness. Help others before they help you, without necessarily expecting anything in return.\"</p><p>“We admit our mistakes in business judgment, but we can learn a lot from them. What I fear most is that people are unreliable and make mistakes in their moral character. The core of investment banking is brand, and one thing can completely ruin you.”</p><p>Huaxing's corporate culture is also full of \"loyalty and righteousness\". When it comes to matters of interest, Bao Fan has always been magnanimous and carefree. Once they become close friends, some people are even willing to \"give\" him money.</p><p>Back then, the merger between Enlight Media and Huayou fell through, and Huaxing's efforts were almost in vain. Bao Fan didn't care about it at all, but Wang Changtian, chairman of Enlight Media, remembered it. Later, when Enlight Media went public, Wang Changtian pulled Bao Fan to invest, which allowed him to earn more than 30 times his initial investment.</p><p>Wang Changtian's assessment of Bao Fan was: \"He is someone you are willing to give money to, and you think it is only right for him to make money.\"</p><p>Bao Fan has genuine pity for many entrepreneurs. He said, \"It's not easy for private entrepreneurs in China. I can particularly understand their predicament of surviving in the cracks. These people are very extraordinary, and I admire and respect them.\"</p><p>This spirit of doing things and being a good person has enabled Huaxing's investment business to grow rapidly in recent years, making it a well-known player in the field of new economy investment.</p><p>As of June 30, 2020, China Renaissance's private equity funds had assets under management of approximately RMB 39 billion, with an average IRR of 33%, and had invested in successful cases such as Meituan, WuXi AppTec, Minglue Data, Lianjia, Focus Media, Nanwei Medical, Bloomage Biotech, MicroPort Medical, MicroPort Xintong, Pop Mart, Kuaishou, and Didi.</p><p>On September 10, 2020, Huaxing's \"Huaxing New Economy Fund\" also announced that it had completed its third round of US dollar fund fundraising, with a total fundraising amount exceeding US$600 million. After the completion of this fundraising, its single investment amount could reach US$50 million.</p><p>In 2016, Bao Fan also took a roundabout approach, leveraging the cooperation clauses on the financial industry in the Mainland-Hong Kong Economic and Trade Cooperation Agreement to break through the mainland's control over private securities. With Hong Kong capital, he established Huajing Securities in Shanghai, possessing four licenses: securities brokerage, securities investment consulting, securities underwriting and sponsorship, and securities asset management, thus entering the mainland securities business.</p><p>Under the new round of reforms in the mainland securities industry, China Renaissance Capital has also begun to make great strides in its development in the mainland.</p><p>In June 2020, Huajing Securities added two new businesses: proprietary securities trading and distribution of financial products, becoming a fully licensed securities firm. In December 2020, Huajing Securities officially changed its name to \"Huaxing Securities\". In the 2020 classification evaluation, Huaxing Securities was upgraded two levels, from BB in the previous year to A.</p><p>Since 2020, China's economy has increasingly exhibited two prominent characteristics, or rather, it has increasingly been driven and guided by two major trends. One is new economic development supported by technological innovation; Another issue is the reform and development of the capital market, which focuses on promoting the development of the new economy. The Science and Technology Innovation Board, the registration system, and the comprehensive registration system have propelled China's capital market into a new era.</p><p>This is also considered the core engine for China's economic transformation and upgrading.</p><p>On one hand, there are already high barriers to entry for new economy investment and overseas investment banks; on the other hand, there are fully licensed securities firms in the mainland capital market. China Renaissance Capital, which has been deeply rooted in the three core value points of new economy financial services, has caught a good time and made ample preparations.</p><p>Over the years, in addition to hands-on practice, Bao Fan has been a proponent of China's new economy, saying, \"China's future must be the future of the new economy, and the new economy is the only direction worth gambling on in the future.\"</p><p><img src=\"https://static.tigerbbs.com/7a6231d4cfff6006bbc54bf9488788ac\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>On the evening of February 16, 2023, Caixin reported that Bao Fan was suspected of being missing.</p><p>Shortly thereafter, China Renaissance Capital Holdings announced on the Hong Kong Stock Exchange: \"The Board of Directors has learned that the Company is temporarily unable to contact Bao Fan (Chairman of the Board, Executive Director, CEO and Controlling Shareholder of the Company).\"</p><p><img src=\"https://static.tigerbbs.com/6cbdafd5f77e3ffa41a2d7701faf7d3c\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>The news shocked the industry.</p><p>Because this will affect the future and destiny of many people, and may even become a bellwether event for the new economy.</p><p>First, China Renaissance Capital Holdings will inevitably be significantly affected, or even severely damaged.</p><p>In 2018, Bao Fan, who helped many entrepreneurs go public, also listed China Renaissance Capital in Hong Kong as \"China Renaissance Capital Holdings\" (01911), but its stock price performance after the listing can only be described as deeply disappointing.</p><p>On its listing day, China Renaissance fell sharply below its issue price of HK$31.8, closing at HK$22.5. Since then, its share price has continued to decline, reaching a low of HK$5.82 in September 2022, less than one-fifth of the issue price.</p><p>Even though Bao Fan increased his holdings multiple times, it was to no avail. Some investors who once had high hopes for it couldn't help but leave comments of hatred and disgust on stock forums: fraudulent stocks, specializing in harvesting the secondary market, garbage, incredibly cheap, and hopelessly hopeless...</p><p>As of February 15, 2023, its share price remained below HK$10.</p><p>The weak stock price reflects the real challenges China Renaissance is facing, including but not limited to: challenges to the company's team and management, changes in the overall economic environment, and investors' lack of confidence in things outside of China Renaissance's business.</p><p>Regarding the team and management, a former employee of Huaxing once said that Huaxing has not yet broken free from its reliance on Bao Fan's outstanding personal abilities. Huaxing still lacks strength in talent competition and often has to follow international banks in finding people.</p><p>In terms of the overall economic environment, the development of the new economy, which is mainly based on the Internet, has entered a period of turmoil in recent years. From the perspective of investment and investment banking, it has even entered a period of sharp recession. Meanwhile, developments such as artificial intelligence are still under investment, which has caused Huaxing, which is mainly based on the new economy, to encounter the problem of an industry downturn.</p><p>Regarding investor confidence, what is puzzling about China Renaissance is that it frequently stages \"super\" share buybacks: on the day of listing, the company spent HK$4,010 to repurchase 200 shares for a repurchase price of HK$20.05; Since then, China Renaissance Capital has solemnly announced repurchase agreements no less than five times, with the repurchase amount being:</p><p>100 shares.</p><p>According to the company's information disclosure, Bao Fan currently holds 48.81% of Huaxing's shares. He is not only the founder, the largest shareholder, but also the most important business pioneer. If something goes wrong with him, the potential impact on Huaxing is evident.</p><p>What is even more worrying is that in September 2022, Cong Lin, president of China Renaissance Capital and former chairman and CEO of ICBC International, was taken away by relevant authorities, and his involvement may include his business dealings with China Renaissance Capital during his tenure at ICBC International.</p><p>According to public information, Cong Lin served as Chairman and CEO of ICBC International Holdings Limited in 2016 and approved a $200 million loan for China Renaissance Capital in 2017. In July 2020, after China Renaissance Capital Holdings went public, Cong Lin was invited to serve as the president of China Renaissance Capital Holdings Group and the chairman of China Renaissance Securities (Hong Kong), with an annual salary of tens of millions of yuan.</p><p>This morning (17th), China Renaissance Capital Holdings announced that Bao Fan had gone missing. The stock market opened sharply lower in Hong Kong, with a closing drop of 28.2%.</p><p><img src=\"https://static.tigerbbs.com/3701bcd91c712ac1411484a88c893b8a\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>In 2022, Bao Fan said in an exclusive interview with Tencent's \"Deep Web\" that at the turning point of the times, many things are unclear, but we still have to keep looking. Investing is about finding certainty amidst uncertainty.</p><p>The incident involving Bao Fan, one of the key figures in the new economy, will bring uncertainty beyond China Renaissance Capital itself.</p><p>The new internet economy has been a hotbed for wealth creation for the past decade or so, and is considered the most sunny hotbed for wealth creation. When the truth behind certain companies and things is revealed, the entire industry will undoubtedly be affected.</p><p></body></html></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>Where did the people who took over China's massive internet business go?</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\">\nWhere did the people who took over China's massive internet business go?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/27\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/08f34cc62ee54134a6a68fe6538c26f8);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华商韬略 </p>\n<p class=\"h-time smaller\">2023-02-17 20:42</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author | Huashang Taolue</p><p>Last night, the news of the disappearance of Bao Fan, founder and chairman of China Renaissance Capital, attracted widespread attention and even shocked the financial community, especially the financial sector and the new internet economy.</p><p>What's so special about him? Why does his disappearance deserve special attention?</p><p><img src=\"https://static.tigerbbs.com/20298e6c23a6ba6b725c6619e18480d3\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>On Valentine's Day 2015, big news broke from the Chinese business community: Didi and Kuaidi jointly announced that the two companies would achieve a strategic merger.</p><p>The news shocked the market. Just a few days earlier, the two companies were engaged in a fierce battle. Later disclosures revealed that the two sides had already begun negotiations as early as January of that year, but the process was challenging and the confidentiality work was done well enough.</p><p>The deal was spearheaded by Bao Fan and his China Renaissance Capital.</p><p>According to Bao Fan's recollection, the negotiations between the two sides were full of tension at the beginning. \"I used to be a general in the army, and we fought to the death. Suddenly we sat at the same table, and they were so reluctant to see each other that they didn't even want to meet.\"</p><p>Ultimately, the core negotiations between the two sides lasted a full 13 hours, with Bao Fan constantly mediating during the standoff: \"What is the ultimate goal of fighting this battle now, and what is the pattern we want to form?\"</p><p>\"We need to tell them in a rational way that we can't fight for the sake of fighting... We absolutely can't 'smooth things over.' We try our best to pull both sides towards the middle line, and we need to explain clearly that this middle line is reasonable. We can't let either side suffer.\"</p><p>This is just one of Bao Fan's many success stories.</p><p>Tencent's collaboration with JD.com, Youku's merger with Tudou, 58's merger with Ganji's, Meituan's merger with Dianping, Maoyan's merger with Weiying, Meituan's acquisition of Mobike, and Momo's acquisition of Tantan—Bao Fan was a crucial figure in these major collaborations and transactions, and his subsidiary, China Renaissance Capital, continued to participate in them in the core role and capacity of exclusive financial advisor.</p><p>These high-profile cases are just a small part of Bao Fan and Huaxing's business.</p><p>From the early IPOs of Dangdang, JD.com, Meituan, Weibo, and iQiyi, to the major projects of WuXi AppTec, Beike (Lianjia), Nio, Nanwei Medical, Bloomage Biotechnology, MicroPort Medical, MicroPort Xintong, Bilibili, Pop Mart, and Kuaishou in recent years, Bao Fan and China Renaissance Capital have all played important roles.</p><p>Since 2013, China Renaissance Capital has consistently ranked first among China's investment banks in providing financing and M&A services to China's new economy companies. Bao Fan is therefore hailed as the \"King of Financial Services in China's New Economy\".</p><p>Some say that the big deal in China's new internet economy has been completed by Bao Fan.</p><p>In recent years, with the development of its investment banking and investment businesses, China Renaissance Capital has achieved a winner-take-all situation in the financial services business of the new economy. It not only deeply ties the new economy giants to the very end, but also penetrates the very depths of the industrial chain.</p><p>For example, JD.com. From JD.com's financing and IPO to JD Health, JD Logistics and other core businesses under JD, Huaxing acts as a financial advisor, investor, IPO sponsor and underwriter.</p><p>For example, shells. Huaxing first acquired a 3.8% stake in Beike Co., Ltd. before its IPO through multiple rounds of investment exceeding 3 billion yuan, becoming its fifth largest shareholder. It also served as a financial advisor in its multiple rounds of financing and then as a joint lead underwriter when it went public in the United States. In its early stages alone, Huaxing achieved unrealized profits exceeding 10 billion yuan.</p><p>For example, Kuaishou. Huaxing not only invested in Kuaishou with its new economy fund, but also served as a financial advisor in Kuaishou's financing, and acted as a joint sponsor for Kuaishou's listing in Hong Kong together with Morgan Stanley and Bank of America.</p><p><img src=\"https://static.tigerbbs.com/9c380b1d3fd3ec6a5d40877fc656bbab\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>Bao Fan was born in Shanghai in 1970. His grandfather was a senior executive at Zhejiang Bank before the founding of the People's Republic of China, and his parents were diplomats.</p><p>As a teenager, Bao Fan was taken by his elders to eat Western food and broaden his horizons, while also listening to stories about Shanghai's stock market and the legends of banking tycoons. Although he didn't quite understand, Bao Fan had a vague feeling that the banking profession was mysterious and fun.</p><p>Rebellion is synonymous with the young Bao Fan. Because his parents lived away from home for many years and he boarded at school from a young age, he developed an unrestrained personality. He also had to face school bullying alone, which spurred him to practice mixed martial arts. He not only made fighting the main theme of his life, but also brought along a group of brothers and became the \"boss\" of the school.</p><p>However, none of this deterred his studies, and he was still admitted to Fudan University with excellent grades.</p><p>Soon, most school disputes could be resolved by seeking mediation from Bao Fan. Today, Bao Fan's ability to handle so many entangled interests and sharp conflicts in business mergers and acquisitions may stem from his early experience as a \"boss\".</p><p>At Huaxing, Bao Fan is not addressed as General Manager Bao or Chairman Bao, but as \"Boss\".</p><p><img src=\"https://static.tigerbbs.com/eb5cba80fd3923a8dbeed6b175e23370\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>After graduating from Fudan University and the Norwegian Institute of Management, Bao Fan joined the top investment bank Morgan Stanley in 1993, fulfilling his childhood dream.</p><p>Just a few years after graduating from university, Bao Fan was constantly collaborating with the world's top tycoons, discussing business deals worth billions or even tens of billions of dollars. The excitement and glory this job brought far exceeded the thrill of making money.</p><p>Bao Fan participated in the entire process of Novartis' acquisition, China Unicom and AsiaInfo Technologies' overseas listing. He had only been working for a few years and had already served as a financial advisor for several multinational companies. However, he was restless and began to constantly ask himself questions. Ultimately, he did not like a stable job and needed greater stimulation, such as entrepreneurship.</p><p>In 2000, when managing AsiaInfo's IPO, Bao Fan felt that he got along well with the startup team, so he immediately joined AsiaInfo as its chief strategy officer.</p><p>AsiaInfo can be considered the \"progenitor\" of Chinese internet companies. It undertook all the backbone network projects of China Mobile, China Unicom, and China Telecom, and is known as the \"chief architect of China's internet\". Here, Bao Fan handles management and strategy setting, and gets along well with many high-tech peers.</p><p>As his work progressed, he made another significant discovery: these high-tech companies had grown rapidly in recent years, had great needs for financing and mergers and acquisitions, but were quite unfamiliar with the capital market.</p><p>This caught his eye: Isn't this an entrepreneurial opportunity?!</p><p><img src=\"https://static.tigerbbs.com/2ed7d0bf766821d25024cbbe20e9ae97\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>In 2004, Bao Fan hired a Tsinghua University girl to serve as both an analyst and secretary at the International Club outside Jianguomen, and that's how the two of them opened Huaxing Capital.</p><p>That year, the domestic capital market developed rapidly, and foreign giants such as Credit Suisse, Deutsche Bank, Goldman Sachs, and Merrill Lynch were all trying to find ways to enter the Chinese market.</p><p>How can Huaxing, which is outnumbered and weak, gain a foothold?</p><p>Bao Fan saw an opportunity: China's startups and private economy were rising, with small-scale financing and mergers and acquisitions constantly occurring, but large investment banks basically looked down on these.</p><p>This ultimately led Bao Fan to define an \"investment banking + investment\" model that focuses on the new economy:</p><p>Instead of focusing on scale, we pursue a professional, meticulous, and in-depth approach, targeting the high-tech new economy and acting as both financial advisors and small-scale equity investors.</p><p>Back then, most emerging entrepreneurs were \"confused\" by capital: they could not explain their development direction, financing needs, core competitiveness, recognize their own value, and knew nothing about law, finance, strategy, etc. When raising funds, they either fail to convince investors or become vassals of capital.</p><p>Bao Fan's plan was to leave these troubles to Huaxing.</p><p>If you need to find investors, Huaxing can help you handle it. If you need to negotiate with investors, Huaxing will help you handle it. I don't know how to value it, I don't know how to write a financing agreement, but Huaxing can handle everything, and they can \"leave the things that hurt our feelings to us.\" One-stop solution.</p><p>When he encounters a particularly good company, Bao Fan will symbolically invest in it, working together, losing together, and winning together.</p><p>With the rapid development of the new internet economy, Huaxing quickly got back on track and made a name for itself. In just 2006 and 2007, it completed tens of billions of yuan in private equity financing for companies such as Zhengtu Network, 21st Century Real Estate, Qihoo, and Dangdang, winning titles such as \"Most Active Small and Medium-sized Investment Bank\" and \"Best New Investment Bank of the Year\".</p><p>Later, people referred to this \"small but beautiful\" business model as \"boutique investment banking\".</p><p>Building on this foundation, Bao Fan began to further solidify his investment banking business, expanding into IPO sponsorship and underwriting. Such demand is gradually emerging in the market.</p><p>The investment banking business appears to be highly competitive and fair on the surface, but in reality, hierarchies of contempt created by ethnicity and nationality are ubiquitous.</p><p>In 2010, Dangdang.com successfully went public on the New York Stock Exchange, with its stock price surging 86.94%. However, Li Guoqing, the biggest beneficiary, flew into a rage and engaged in a verbal spat with the \"big movie girl\" on Weibo. The reason is that before the IPO, Dangdang's underwriter, Morgan Stanley, forced him to sell at a discount to the offering price, resulting in Dangdang raising a lot less money, and Li Guoqing became the biggest victim.</p><p>As the financial advisor for this project, Bao Fan realized early on that the financial industry has a strong national character.</p><p>For example, in large investment banks, Chinese people who are proficient in mathematics and hardworking act as grassroots financial \"migrant workers\"; Indians occupy middle management positions; At the highest level, there will always be Jews and Anglo-Saxons. Chinese companies listing overseas may appear glamorous on the surface, but in reality, they suffer from various unfair treatments.</p><p>Dangdang's experience made his feelings even more painful.</p><p>American investors are also prejudiced against Chinese companies. They're too lazy to understand business models and always want you to find analogies: no matter if you're Alibaba, Ctrip, Sina, or Baidu, no matter how powerful you are in China, when listing in the US, you have to find a company that \"benchmarks\" against the US market. Otherwise, American investors won't understand and will suspect that your company is shady.</p><p>This prompted Bao Fan to reflect: how can Chinese people break through and win a place on Wall Street?</p><p>His answer is that we must break the listing monopoly of European and American investment banks.</p><p>Although he was unconvinced, China Renaissance Capital had no chance of winning if it got involved at the time. However, Bao Fan was determined to participate even if it meant losing money.</p><p>This is also a lesson he learned in combat: \"When you are knocked down, you must never back down; you must fight back immediately.\"</p><p>Starting in 2012, Huaxing began to focus its efforts on becoming a true investment bank, and successively obtained securities firm licenses in Hong Kong and the United States. From then on, Chinese companies went public in the United States with the support of their own Chinese investment banks.</p><p>This time, Bao Fan was right again.</p><p>In June 2013, Huaxing, which had just obtained its US brokerage license, completed its first IPO: becoming the only local sub-underwriter for LightInTheBox, the first cross-border e-commerce company to list on the New York Stock Exchange.</p><p>This is the first time a Chinese investment bank has underwritten a US stock IPO.</p><p>Securing this big deal was partly due to Bao Fan's personal connections. He and Guo Quji, chairman of LightInTheBox, have been \"good friends\" for many years: when Guo Quji was the chief strategy officer at Google China, it was Bao Fan who \"encouraged\" him to go into the sea.</p><p>But later, as more and more Chinese companies went to the United States, Huaxing quickly became a dark horse in the market by perfectly keeping pace with the market rhythm and having a first-mover advantage. By 2018, it was the seventh largest underwriter on Wall Street.</p><p><img src=\"https://static.tigerbbs.com/59bf3b8c01164edc1497fc767fc6b48b\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>▲ Bao Fan at the 2018 Top Ten Economic Figures of the Year Awards Ceremony</p><p>Beike, with a market capitalization of over $70 billion that year, was listed on the New York Stock Exchange, with Huaxing serving as the lead underwriter. Wuxin Technology, with a market capitalization of over $40 billion, went public on the New York Stock Exchange, with China Renaissance Capital and Citigroup serving as its underwriters.</p><p>In addition to its success in the US stock market, Huaxing is also making great strides in the Hong Kong market: Meituan is listed in Hong Kong, and Huaxing is the exclusive financial advisor/joint global coordinator; JD.com is listed in Hong Kong, and China Renaissance Capital is the joint global coordinator, joint bookrunner, and joint lead manager. Kuaishou's IPO, with Huaxing as joint sponsor...</p><p>As early as June 30, 2020, China Renaissance had helped clients successfully complete more than 980 transactions, including initial public offerings, mergers and acquisitions, and private equity financings, with a total transaction value of over US$146 billion, making it the largest in China's new economy sector at the time.</p><p><img src=\"https://static.tigerbbs.com/3e628ffa6dbc249571eaaca53c99e6c4\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>The partnership with JD.com is another example of Huaxing Capital's operations.</p><p>As early as 2006, Bao Fan met Liu Qiangdong and believed that he was capable, loyal, and capable of success. However, Huaxing missed out on JD.com's several rounds of financing. Bao Fan is the kind of person who never gives up until he reaches the Yellow River:</p><p>\"I refuse to believe this. We must do something for JD.com.\"</p><p>In 2011, during JD.com's Series C funding round, Liu Qiangdong finally approached Bao Fan, asking for $1 billion. Bao Fan's first impression was: Liu Qiangdong had gone mad. When Shanda went public in the United States in 2009, the amount of funding raised was only about this.</p><p>Bao Fan gritted his teeth and accepted this ultimate move that most people couldn't withstand.</p><p>Just then, Yuri, an old friend of China Renaissance Capital and founder of Russia's Digital Sky Technology (DST), came to China. Bao Fan took this \"Russian tycoon\" to JD.com and spent $500 million in one go.</p><p>Tiger Management and SoftBank immediately followed suit, raising an unprecedented $1.5 billion. Through this pivotal battle in JD.com's history, Bao Fan became deeply integrated with JD.com. Subsequently, China Renaissance became the co-lead underwriter of JD.com's $2.05 billion IPO, setting a record for the largest financing of a Chinese concept stock at the time, and continued until the subsequent healthy listing of JD.com.</p><p>Many companies are willing to partner with Huaxing, which is inseparable from Huaxing's professional capabilities. Since its inception, Bao Fan has prioritized building a top-notch professional team in the company's development, constantly offering high salaries to find and poach talent. As early as 2017, the average salary per employee at Huaxing had already reached 1.2 million RMB.</p><p>The elite team is Huaxing's hallmark. Bao Fan's greater advantage over other industry players is inseparable from his expertise beyond his professional skills:</p><p>“If a company chooses Huaxing, we will use all of Huaxing’s resources to support it, and we will never abandon it even when it is in its most difficult time. Once we make friends, we will go to great lengths and be loyal to each other.”</p><p>Bao Fan said that Huaxing did many projects in its early years, but they didn't even have contracts. They just shook hands and got it done. \"Frankly speaking, what we do, others can do too. Why are people willing to cooperate with us?\"</p><p>He believes that the most important thing is to \"treat each other with sincerity\".</p><p>“Huaxing has been quite active since its founding. That’s just my personality. I’m not short of food. If you want to cooperate, you can cooperate, but you should be happy to cooperate together. Not only should you make a deal, but you should also be friends after the deal. That’s true cooperation.”</p><p>Bao Fan is a financial expert, but his expertise is merely a means and technique. What he truly pursues and upholds is humanity and human relationships.</p><p>He said, \"Favors are like a bank account. When others help you, they are withdrawing money. If you keep withdrawing money, you will eventually run out of money. So you have to help others and keep saving money so that you can have more and more money.\"</p><p>Therefore, he believes that when doing business, \"don't just look at profits; value relationships.\"</p><p>\"First, don't overdo anything. Give in to others if you can. If you can earn 10 yuan, earn 5 yuan and leave 5 yuan for others. Second, be grateful and repay kindness. Help others before they help you, without necessarily expecting anything in return.\"</p><p>“We admit our mistakes in business judgment, but we can learn a lot from them. What I fear most is that people are unreliable and make mistakes in their moral character. The core of investment banking is brand, and one thing can completely ruin you.”</p><p>Huaxing's corporate culture is also full of \"loyalty and righteousness\". When it comes to matters of interest, Bao Fan has always been magnanimous and carefree. Once they become close friends, some people are even willing to \"give\" him money.</p><p>Back then, the merger between Enlight Media and Huayou fell through, and Huaxing's efforts were almost in vain. Bao Fan didn't care about it at all, but Wang Changtian, chairman of Enlight Media, remembered it. Later, when Enlight Media went public, Wang Changtian pulled Bao Fan to invest, which allowed him to earn more than 30 times his initial investment.</p><p>Wang Changtian's assessment of Bao Fan was: \"He is someone you are willing to give money to, and you think it is only right for him to make money.\"</p><p>Bao Fan has genuine pity for many entrepreneurs. He said, \"It's not easy for private entrepreneurs in China. I can particularly understand their predicament of surviving in the cracks. These people are very extraordinary, and I admire and respect them.\"</p><p>This spirit of doing things and being a good person has enabled Huaxing's investment business to grow rapidly in recent years, making it a well-known player in the field of new economy investment.</p><p>As of June 30, 2020, China Renaissance's private equity funds had assets under management of approximately RMB 39 billion, with an average IRR of 33%, and had invested in successful cases such as Meituan, WuXi AppTec, Minglue Data, Lianjia, Focus Media, Nanwei Medical, Bloomage Biotech, MicroPort Medical, MicroPort Xintong, Pop Mart, Kuaishou, and Didi.</p><p>On September 10, 2020, Huaxing's \"Huaxing New Economy Fund\" also announced that it had completed its third round of US dollar fund fundraising, with a total fundraising amount exceeding US$600 million. After the completion of this fundraising, its single investment amount could reach US$50 million.</p><p>In 2016, Bao Fan also took a roundabout approach, leveraging the cooperation clauses on the financial industry in the Mainland-Hong Kong Economic and Trade Cooperation Agreement to break through the mainland's control over private securities. With Hong Kong capital, he established Huajing Securities in Shanghai, possessing four licenses: securities brokerage, securities investment consulting, securities underwriting and sponsorship, and securities asset management, thus entering the mainland securities business.</p><p>Under the new round of reforms in the mainland securities industry, China Renaissance Capital has also begun to make great strides in its development in the mainland.</p><p>In June 2020, Huajing Securities added two new businesses: proprietary securities trading and distribution of financial products, becoming a fully licensed securities firm. In December 2020, Huajing Securities officially changed its name to \"Huaxing Securities\". In the 2020 classification evaluation, Huaxing Securities was upgraded two levels, from BB in the previous year to A.</p><p>Since 2020, China's economy has increasingly exhibited two prominent characteristics, or rather, it has increasingly been driven and guided by two major trends. One is new economic development supported by technological innovation; Another issue is the reform and development of the capital market, which focuses on promoting the development of the new economy. The Science and Technology Innovation Board, the registration system, and the comprehensive registration system have propelled China's capital market into a new era.</p><p>This is also considered the core engine for China's economic transformation and upgrading.</p><p>On one hand, there are already high barriers to entry for new economy investment and overseas investment banks; on the other hand, there are fully licensed securities firms in the mainland capital market. China Renaissance Capital, which has been deeply rooted in the three core value points of new economy financial services, has caught a good time and made ample preparations.</p><p>Over the years, in addition to hands-on practice, Bao Fan has been a proponent of China's new economy, saying, \"China's future must be the future of the new economy, and the new economy is the only direction worth gambling on in the future.\"</p><p><img src=\"https://static.tigerbbs.com/7a6231d4cfff6006bbc54bf9488788ac\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>On the evening of February 16, 2023, Caixin reported that Bao Fan was suspected of being missing.</p><p>Shortly thereafter, China Renaissance Capital Holdings announced on the Hong Kong Stock Exchange: \"The Board of Directors has learned that the Company is temporarily unable to contact Bao Fan (Chairman of the Board, Executive Director, CEO and Controlling Shareholder of the Company).\"</p><p><img src=\"https://static.tigerbbs.com/6cbdafd5f77e3ffa41a2d7701faf7d3c\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>The news shocked the industry.</p><p>Because this will affect the future and destiny of many people, and may even become a bellwether event for the new economy.</p><p>First, China Renaissance Capital Holdings will inevitably be significantly affected, or even severely damaged.</p><p>In 2018, Bao Fan, who helped many entrepreneurs go public, also listed China Renaissance Capital in Hong Kong as \"China Renaissance Capital Holdings\" (01911), but its stock price performance after the listing can only be described as deeply disappointing.</p><p>On its listing day, China Renaissance fell sharply below its issue price of HK$31.8, closing at HK$22.5. Since then, its share price has continued to decline, reaching a low of HK$5.82 in September 2022, less than one-fifth of the issue price.</p><p>Even though Bao Fan increased his holdings multiple times, it was to no avail. Some investors who once had high hopes for it couldn't help but leave comments of hatred and disgust on stock forums: fraudulent stocks, specializing in harvesting the secondary market, garbage, incredibly cheap, and hopelessly hopeless...</p><p>As of February 15, 2023, its share price remained below HK$10.</p><p>The weak stock price reflects the real challenges China Renaissance is facing, including but not limited to: challenges to the company's team and management, changes in the overall economic environment, and investors' lack of confidence in things outside of China Renaissance's business.</p><p>Regarding the team and management, a former employee of Huaxing once said that Huaxing has not yet broken free from its reliance on Bao Fan's outstanding personal abilities. Huaxing still lacks strength in talent competition and often has to follow international banks in finding people.</p><p>In terms of the overall economic environment, the development of the new economy, which is mainly based on the Internet, has entered a period of turmoil in recent years. From the perspective of investment and investment banking, it has even entered a period of sharp recession. Meanwhile, developments such as artificial intelligence are still under investment, which has caused Huaxing, which is mainly based on the new economy, to encounter the problem of an industry downturn.</p><p>Regarding investor confidence, what is puzzling about China Renaissance is that it frequently stages \"super\" share buybacks: on the day of listing, the company spent HK$4,010 to repurchase 200 shares for a repurchase price of HK$20.05; Since then, China Renaissance Capital has solemnly announced repurchase agreements no less than five times, with the repurchase amount being:</p><p>100 shares.</p><p>According to the company's information disclosure, Bao Fan currently holds 48.81% of Huaxing's shares. He is not only the founder, the largest shareholder, but also the most important business pioneer. If something goes wrong with him, the potential impact on Huaxing is evident.</p><p>What is even more worrying is that in September 2022, Cong Lin, president of China Renaissance Capital and former chairman and CEO of ICBC International, was taken away by relevant authorities, and his involvement may include his business dealings with China Renaissance Capital during his tenure at ICBC International.</p><p>According to public information, Cong Lin served as Chairman and CEO of ICBC International Holdings Limited in 2016 and approved a $200 million loan for China Renaissance Capital in 2017. In July 2020, after China Renaissance Capital Holdings went public, Cong Lin was invited to serve as the president of China Renaissance Capital Holdings Group and the chairman of China Renaissance Securities (Hong Kong), with an annual salary of tens of millions of yuan.</p><p>This morning (17th), China Renaissance Capital Holdings announced that Bao Fan had gone missing. The stock market opened sharply lower in Hong Kong, with a closing drop of 28.2%.</p><p><img src=\"https://static.tigerbbs.com/3701bcd91c712ac1411484a88c893b8a\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>In 2022, Bao Fan said in an exclusive interview with Tencent's \"Deep Web\" that at the turning point of the times, many things are unclear, but we still have to keep looking. Investing is about finding certainty amidst uncertainty.</p><p>The incident involving Bao Fan, one of the key figures in the new economy, will bring uncertainty beyond China Renaissance Capital itself.</p><p>The new internet economy has been a hotbed for wealth creation for the past decade or so, and is considered the most sunny hotbed for wealth creation. When the truth behind certain companies and things is revealed, the entire industry will undoubtedly be affected.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9211839191cf55d29dbe0ea606ea36f8","relate_stocks":{"01911":"华兴资本控股"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714701","content_text":"作 者丨华商韬略昨日晚间，华兴资本创始人、董事长包凡失联的消息，在财经界，尤其是金融界与互联网新经济领域引起广泛关注，甚至是强烈震动。他，有什么特别的？他的失联，为什么值得特别关注？2015年情人节，中国商界传出大消息：滴滴与快的共同宣布，两家企业将实现战略合并。消息一出，市场震惊。此前几天，两家公司还在殊死博弈。日后披露信息显示，早在当年1月，双方就已开始了谈判，只不过过程充满挑战，且保密工作做得足够好。主导这场交易的正是包凡，和他的华兴资本。据包凡回忆，双方的谈判一开始充满火药味，“以前将过军，你死我活的，突然坐到同一张桌子上，他们排斥到见面都不想见。”最终，双方的核心谈判进行了整整13个小时，包凡则在对峙中不断调停：“现在打这一仗，最终目的是什么，想要形成的格局是什么？”“得用理性的方式告诉他们，不能为了打仗而打仗……绝不能‘和稀泥‘，我们尽量把双方往中线上拉，而且我们要解释清楚，这条中线是合理的。不能让任何一方受委屈。”这只是包凡众多成功案例中的一个。腾讯与京东合作、优酷与土豆合并、58与赶集合并，美团与大众点评合并、猫眼和微影合并、美团收购摩拜、陌陌收购探探，这些大合作、大交易中，包凡都是至关重要的人，他旗下的华兴资本则以独家财务顾问的核心角色和身份，持续参与其中。这些轰动江湖的大案子，只是包凡和华兴业务的一小部分。从早年的当当、京东、美团、微博、爱奇艺上市，到最近几年的药明康德、贝壳（链家）、蔚来、南微医学、华熙生物、心脉医疗、微创心通、哔哩哔哩、泡泡玛特、快手大项目……包凡和华兴资本都扮演了重要角色。2013年至今，在为中国新经济公司运作的融资并购服务中，华兴资本一直位列中国投行第一。包凡也因此被誉为：中国新经济领域的金融服务之王。也有人说，中国互联网新经济的大买卖，被包凡包圆了。这些年，伴随其投行、投资业务的发展，华兴资本在新经济的金融服务生意里赢家通吃。既深度捆绑新经济巨头一家吃到底，也从产业链纵深一竿子插到底。比如京东。华兴从京东融资、上市一直吃到京东健康，京东物流等京东旗下核心事业体，而且在其中既当财务顾问，也做投资，还当上市保荐人与承销商。比如贝壳。华兴先是以超过30亿的多轮投资，累计持有贝壳股份至IPO前的3.8%，成为其第五大股东，并在其多轮融资担任财务顾问，然后又在其赴美国上市之际担任了联席主承销商。仅是早期的投资，华兴就账面浮盈超过百亿之巨。比如快手。华兴既以旗下的新经济基金参投了快手，也在快手的融资中担当财务顾问，并与摩根士丹利、美银一起做了快手在港上市的联席保荐人。1970年，包凡在上海出生。他的祖父是新中国成立前的浙江银行高管，父母则是外交官。十几岁的包凡，就被长辈们带着吃西餐、开眼界，顺便旁听上海昔日股市风云和银行大亨传奇。虽然听不太懂，但包凡已经隐约感觉到，银行家这个职业很神秘、很好玩。叛逆是少年包凡的代名词。由于父母长年在外，自小在校寄宿，他养成了无拘无束的性格，又要独自面对校园霸凌，这刺激他狂练综合格斗，不但把打架斗殴过成了生活主旋律，还拉上一帮兄弟，当上了校园“老大”。不过，这些都没能耽误他的学习，他依然以优异成绩考入复旦大学。很快，学校里的纠纷只要找包凡调停，大都能化干戈为玉帛。如今，包凡能将那么多利益纠缠、矛盾尖锐的商业并购一一搞定，或许正是源于他早年“当老大”的经验。在华兴，包凡的称呼不是包总、包董，而是：老大。先后在复旦和挪威管理学院毕业后，包凡于1993年入职顶级投行摩根士丹利，圆了儿时的梦想。大学毕业没几年，就成天跟全世界最顶尖的大佬合作，谈的都是几十亿乃至上百亿美元的生意，这份工作带给包凡的兴奋与荣耀，远超赚钱的快感。诺华制药并购，中国联通、亚信科技海外上市，包凡都全程参与。参加工作没几年，他已担任多家跨国企业的财务顾问，但不安分的他却开始不断自我设问，自己终究还是不喜欢稳定的工作，他需要更大的刺激，比如创业。2000年，运作亚信上市时，包凡觉得自己与这个创业团队很投脾气，他随即加盟亚信，担任首席战略官。亚信堪称中国互联网公司的“鼻祖”，移动、联通、电信等骨干网络工程全由其承建，有“中国互联网的总建筑师”之称。在这里，包凡搞管理、定战略，跟不少高科技同行打得火热。随着工作深入，他又有了重大发现：这些高科技企业近年来飞速成长，融资、并购需求极大，却对资本市场相当陌生。这让他眼前一亮：这不就是创业机会吗？！2004年，包凡在建国门外的国际俱乐部，招了个清华女生兼任分析师和秘书，两个人的华兴资本，就这样开了张。这一年，国内资本市场加速发展，瑞士信贷、德意志银行、高盛、美林证券等国外巨头都在想方设法切入中国市场。势单力薄的华兴，如何才能有一席之地？包凡看到了一个机会：中国创业企业、民营经济正在崛起，小融资、小并购不断，但大投行对这些基本看不上。这让包凡最终明确出一个锁定新经济的“投行+投资”模式：不走规模路线，而是走专业精细和深耕路线，锁定高科技新经济，既做财务顾问，又做小规模参股投资。当年，新兴创业者在资本面前大都“蒙圈”：既说不清发展方向、融资需求、核心竞争力，也认不清自身价值，对法律、财务、战略等更是一无所知。融资时，要么说服不了投资人，要么在资本面前沦为附庸。包凡的算盘是，这些麻烦，交给华兴就好。要找投资人，华兴帮忙搞定；要跟投资人谈判，华兴帮忙搞定；不知道该怎么估值，不知道融资协议怎么写，华兴统统能搞定，而且可以“伤感情的事，留我们来做”；一条龙全套解决。遇到特别好的企业，包凡还会象征性跟投，一起做，一起输，一起赢。借助互联网新经济的快速发展，华兴很快走上正轨，打响招牌。仅是06、07两年，它就一口气为征途网络、21世纪不动产、奇虎、当当网等企业完成上百亿私募融资，一举斩获“最活跃中小型投行”、“年度最佳新型投行”等桂冠。日后，人们将这种“小而美”的商业模式称为“精品投行”。在此基础上，包凡开始进一步把投行做实，将业务拓展到上市保荐与承销。市场，也逐渐爆发出这样的需求。投行这门生意，表面看竞争激烈、公平合理，实际上，民族、国别造就的鄙视链无处不在。2010年，当当网在纽交所成功上市，暴涨86.94%，但作为最大受益者的李国庆却大发雷霆，与“大摩女”在微博展开对骂。原因是，上市前，当当的承销商摩根士丹利强制要求他对发行价打折贱卖，当当少募了很多钱，李国庆成为了最大受害者。作为这一项目的财务顾问方，包凡早年就体会到，金融业具有强烈的民族性。比如，在大投行，数学精湛、工作勤奋的华人，充当着底层金融“民工”；印度人占据着中层管理职位；最高层，则永远是犹太人和盎格鲁-撒克逊人。中国公司海外上市，表面风光无限，实则遭受着各种不公平待遇。当当的遭遇，让他这种体会变得更加痛彻。美国投资人对中国企业也充满偏见。他们懒得理解商业模式，总希望你找出类比对象：不管你是阿里、携程还是新浪、百度，甭管你在中国多牛，在美国上市就统统要找到与美国市场“对标”的公司，否则，美国投资人就看不懂，就怀疑你公司有猫腻。这让包凡开始了反思：中国人要如何突破，在华尔街去赢得一席之地？他的答案是，一定要打破欧美投行的上市垄断权。虽然不服气，但当时的华兴资本参与进去并无胜算，可包凡还是下定决心：即便陪跑赔钱，也要参与。这也是他在格斗中悟出来的道理：“被打倒时，你绝不能退缩，必须马上打回去。”从2012年开始，华兴开始集中精力成为真正的投行，先后拿到中国香港、美国的券商牌照。从此——中国企业赴美上市，有了中国人自己的投资银行护航。这一次，包凡再次押对了。2013年6月，刚刚拿到美国券商牌照的华兴，就完成了IPO第一股：成为跨境电商第一股兰亭集势在纽交所上市的唯一的本土副承销商。这是第一次由中国投行承销美股IPO。拿下这笔大单，多少是因为包凡的个人关系。他与兰亭集势董事长郭去疾是多年的“好友”：当年，郭去疾在谷歌中国当首席战略官时，就是包凡“鼓动”他下的海。但后来，当越来越多中国企业赴美，华兴则是靠着完美踏准市场节奏以及先发优势，快速成为了市场的一匹黑马，到2018年时，它已是华尔街第七大承销商。▲包凡在2018十大经济年度人物颁奖典礼现场当年市值超过700亿美元的贝壳在纽交所上市，华兴担任主承销商；市值超过400亿美金雾芯科技在纽交所上市，华兴资本与花旗一起成为其承销商。除了在美股市场旗开得胜，华兴在香港市场同样高歌猛进：美团在港上市，华兴是独家财务顾问/联席全球协调人；京东在港上市，华兴资本是联席全球协调人、联席账簿管理人及联席牵头经办人；快手上市，华兴是联席保荐人……早在2020年6月30日，华兴已帮助客户成功完成包括首次公开募股、并购和私募融资等超过980宗交易，交易总额逾1460亿美元，规模上，成为当时中国新经济领域的第一。与京东合作，是华兴资本运作的又一典范。早在2006年，包凡就结识了刘强东，认定他能力强、讲义气、会成事。但京东的数轮融资，华兴都失之交臂。包凡是那种不到黄河心不死的人：“我就不信这邪，我们一定要为京东做点啥。”2011年，京东C轮融资，刘强东终于找到包凡，开口要10亿美元。包凡第一感觉是：刘强东疯了。2009年盛大赴美上市，融资额也不过如此。这种一般人接不住的大招，包凡咬牙接了。正好，华兴资本的老朋友、俄罗斯数字天空技术（DST）创始人尤里来到中国，包凡带着这位“俄罗斯土豪”逛京东，一砸就是5亿美元。老虎基金、软银马上跟风凑了破天荒的15亿美元。凭借这场京东史上关键之战，包凡自此与京东深度捆绑。此后，华兴从京东20.5亿美元IPO的联席主承销商，创出当时中概股最大规模融资纪录，一直做到后面的京东健康上市。众多企业都愿意和华兴捆绑，离不开华兴的专业能力。从创立开始，包凡就将构建顶尖专业团队放在公司发展首位，不断开出高薪找人，挖人。早在2017年，华兴的人均薪酬就已高达120万人民币。精英团队是华兴的特色招牌。而区别于其他业者的更大优势，离不开包凡在专业之外的功夫：“如果一个企业选择了华兴，我们会启用华兴所有的资源去支持他，在他最困难的时候，我们也会不离不弃。咱们交上朋友了，那就两肋插刀、肝胆相照。”包凡说，华兴早年做了很多项目，连合同都没有，握个手搞定了，“坦率讲我们干的事别人也能干，为什么大家愿意跟我们合作？”他认为，最重要的就是“肝胆相照”。“华兴从创立第一天起就比较DIAO，我的性格就是这样，我也不差这口饭吃，你愿意合作就合作，但在一起合作要开心，不仅做成买卖，做完买卖大家还是朋友，这才是真正的合作。”包凡是一个金融专家，但专业只是手段和技术，他真正追求和死守的，还是人性与人情。他说：“人情这东西就像银行账户，别人帮你是在取钱，总是取钱，总有一天钱会取光，所以你要帮别人，不断存钱，钱才能越来越多。”因此他认为，做生意，“不要只看利益，要重感情。”“第一，什么事情都别做太满，能让别人就让别人。你能赚10块钱，你就赚5块，留5块钱给别人。第二，要知恩图报，别人没帮你之前你就先帮别人，不一定指望回报。”“商业上的判断失误我们认了，能吸取很多经验教训。我最怕的就是人不靠谱，犯道德品质上的错误，投资银行买卖的核心就是品牌，一件事就能让你彻底完蛋。”华兴的企业文化中，也充满着“江湖义气”。在利益问题上，包凡向来大气不计较，一旦跟包凡有了深交，有人甚至愿意“送”钱给他。当年光线与华友的并购案落空，华兴几乎白忙一场，包凡对此毫不在意，光线传媒董事长王长田却记住了这事。后来光线传媒上市，王长田拉着包凡入股，让他最高赚到30多倍。王长田对包凡的评价则是：“他是一个你愿意给他钱的人，你觉得他挣钱是应该的。”对于很多企业家，包凡有发自内心的怜惜。他说：“中国的民营企业家很不容易。我特别能够理解他们夹缝中求生存的困境。这些人很不简单，我很佩服、尊重他们。”这些做事做人精神，让华兴的投资业务近年来快速成长，成为新经济投资领域的著名一极。截至2020年6月30日，华兴旗下的私募股权投资基金资产管理规模达约人民币390亿元，平均IRR达33%，并投出了美团、药明康德、明略数据、链家、分众传媒、南微医学、华熙生物、心脉医疗、微创心通、泡泡玛特、快手、滴滴等成功案例。2020年9月10日，华兴旗下“华兴新经济基金”还宣布，已完成第三期美元基金募资，总募资额超6亿美元，完成此次募资后，其单笔投资金额可达5000万美元。2016年，包凡还“曲线救国”，借助内地与香港经贸合作协定中关于金融业的合作条款，突破内地对民营证券的管制，以港资背景在上海成立了华菁证券，拥有证券经纪、证券投资咨询、证券承销与保荐、证券资产管理四张牌照，踏入内地证券业务。内地证券业新一轮改革之下，华兴资本在内地的发展也开始大步前进。2020年6月，华菁证券新增了证券自营、代销金融产品两项业务，成为全牌照券商。2020年12月，华菁证券正式更名为“华兴证券”。在2020年的分类评价中，华兴证券还连升两级，从上年的BB类升至A类。从2020年开始，中国经济越来越呈现出两大显著特征，或者说越来越靠两大趋势推动和引领。一个是以科技创新为支持的新经济发展；另一个是以推动新经济发展为核心的资本市场变革与发展，科创板、注册制、全面注册制推动中国资本市场走入崭新的时代。这也被认为是中国经济转型升级的核心引擎。一手是已经壁垒高筑的新经济投资与海外投行，一手是在内地资本市场的全牌照券商，在新经济金融服务三大核心价值点深耕的华兴资本，可谓赶上了好时候，也做足了准备。这些年，除了躬身实践，包凡更是中国新经济的鼓吹者，“中国的未来一定是新经济的未来，新经济是未来唯一值得赌的方向”。2023年2月16日晚，《财新》传出包凡疑似失联的消息。此后不久，华兴资本控股在港交所公告：“董事会得悉本公司暂时无法与包凡（本公司董事会主席、执行董事、首席执行官和控股股东）取得联系。”消息一出，业界震惊。因为，这将关系不少人的前途命运，甚至会成为新经济的一个风向标事件。首先是，华兴资本控股将不可避免的受到重大影响，甚至是遭遇重创。2018年，成就了众多企业家上市之路的包凡，也将华兴资本以“华兴资本控股”（01911）在港上市，但其上市之后的股价表现却只能用令人深感失望来形容。上市当日，华兴就大幅跌破31.8港元的发行价，收盘于22.5港元。此后，其股价更一路持续走低，最低至2022年9月的5.82港元，不足发行价的1/5。即便包凡多次增持，也无济于事。曾经对其寄予厚望的一些投资者，因此忍不住在股吧留言憎恨与厌恶：老千股、专门收割二级市场，垃圾、贱得可以，烂泥扶不上墙……截至2023年2月15日，其股价依然在10港元的下方。股价的疲弱，反应了华兴资本正在面临的实际挑战，它包括但不限于：公司团队与管理的挑战，以及整个经济大环境的变迁，以及投资人对华兴资本业务之外的一些事情也缺乏信心。在团队与管理方面，一位华兴前职员就曾表示，到目前，华兴依然没有摆脱对包凡的个人突出能力的依赖，华兴在人才竞争上还缺少力量，常常只能跟在国际大行后面找人。在经济大环境方面，最近几年互联网为主的新经济发展进入动荡，从投资与投行角度而言，甚至是大幅衰退期，而人工智能等发展尚在投入之中，这也让以新经济为主的华兴遇到行业低谷的问题。投资人信心方面，华兴资本让人匪夷所思的是，动不动就上演“超级”回购的戏码：上市当日，公司花4010港元回购200股，回购价为20.05港元；此后不低于5次，华兴资本都曾郑重其事地公告回购，回购数额都是：100股。根据公司信息披露，目前，包凡还持有华兴48.81%股份。既是创始人，还是最大股东，更是最重要的大业务先锋，如果他出事，华兴可能受到的影响也可见一斑。更让人担心的是，2022年9月，华兴资本总裁、工银国际前董事长兼行政总裁丛林已被有关部门带走，而其涉及之事，或许就包括任职工银国际时与华兴资本的业务往来。根据公开消息，丛林2016年任工银国际控股有限公司董事长兼行政总裁，2017年曾为华兴资本批下一笔2亿美元的贷款。2020年7月，华兴资本控股上市后，丛林应邀出任了华兴资本控股集团总裁兼任华兴证券（香港）董事长，而其年薪则高达千万级。今日（17日）上午，公告了包凡失联的华兴资本控股，在港股市场开盘大跌，截至收盘跌幅达28.2%。2022年，包凡曾经在接受腾讯《深网》的专访中说，在时代的转折点上，很多事情看不清楚，但还是要继续去看。投资就是在不确定中找确定。作为新经济重要旗手之一的包凡出事，所带来的不确定性，也会超出华兴资本本身。互联网新经济是过去10多年的造富热土，并且被认为是最阳光的一片造富热土。当某些公司，某些事情阳光背后的东西被显现出来，整个行业无疑都会受到影响。","news_type":1,"symbols_score_info":{"01911":0.9}},"isVote":1,"tweetType":1,"viewCount":4719,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":625289077,"gmtCreate":1676508887201,"gmtModify":1676508887201,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/625289077","repostId":"1124094165","repostType":2,"repost":{"id":"1124094165","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":1676505305,"share":"https://ttm.financial/m/news/1124094165?lang=en_US&edition=fundamental","pubTime":"2023-02-16 07:55","market":"us","language":"zh","title":"Last night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.","url":"https://stock-news.laohu8.com/highlight/detail?id=1124094165","media":"老虎资讯综合","summary":"摘要：①无惧加息预期升温，隔夜美股三大股指收高，纳指涨近1%；②查理·芒格盛赞比亚迪：在中国市场让特斯拉相形见绌；③马斯克锐评人工智能：危险程度超过核技术。海外行情1、无惧加息预期升温美股三大股指收高","content":"<p><html><head></head><body>Abstract: ① Despite rising rate hike expectations, the three major U.S. stock indexes closed higher overnight, with the Nasdaq rising nearly 1%; ② Charlie Munger praised<a href=\"https://laohu8.com/S/002594\">BYD</a>In the Chinese market<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Pale in comparison; ③ Musk sharply criticized artificial intelligence: it is more dangerous than nuclear technology.<img src=\"https://static.tigerbbs.com/4bc45bac28ddf4f047f204e5e8c5f645\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>Overseas Market</p><p>1. Despite rising rate hike expectations, the three major US stock indexes closed higher, with the Nasdaq rising nearly 1%.</p><p>U.S. stocks closed higher on Wednesday, with the Nasdaq recording its third consecutive trading day of gains. U.S. retail sales rose 3% month-on-month in January, exceeding expectations and marking the largest increase since March 2021. This sends a clear signal that the economy is overheating and may indicate stubborn high inflation, increasing market expectations that the Federal Reserve may rate hike to higher levels for a longer period. At the close of trading, the Nasdaq index rose 0.92%; The Dow Jones Industrial Average rose 0.11%; The S&P 500 rose 0.28%.</p><p>Most large technology stocks rose.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Up 1.39%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>It rose 1.46%, while Meta fell 1.29%.<a href=\"https://laohu8.com/S/GOOG\">Google</a>Up 2.39%<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Down 0.80%, Netflix up 0.41%.<a href=\"https://laohu8.com/S/TSM\">TSMC</a>It fell 5.31%. WSB concept stocks and video game stocks led the gains, with Roblox rising over 26%.<a href=\"https://laohu8.com/S/GME\">Game Station</a>Up more than 9%,<a href=\"https://laohu8.com/S/HOOD\">Robinhood</a>It rose by more than 5%. Vaccine stocks and gold stocks saw the largest declines.<a href=\"https://laohu8.com/S/HL\">Hekla Mining</a>It fell more than 9%.<a href=\"https://laohu8.com/S/GORO\">gold resources</a>It fell more than 6%.<a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It fell by more than 3%.</p><p>A century-old bank—<a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>The stock price suddenly collapsed, with the stock plummeting as much as 11% in pre-market trading before closing down 8.41%. The company suddenly experienced two major shocks: First, according to sources, the UK's financial regulator is investigating...<a href=\"https://laohu8.com/S/BARC.UK\">Barclays Bank</a>An investigation was conducted to suspect that its compliance and anti-money laundering systems were persistently ineffective; Secondly, on February 15, Barclays announced its 2022 financial results. Financial reports show that Barclays' pre-tax profit in 2022 fell 14% year-on-year, far below market expectations.</p><p>2. Popular Chinese concept stocks showed mixed performance; the Nasdaq China Golden Dragon Index rose 0.30%.</p><p>Popular Chinese concept stocks were mixed, with the Nasdaq China Golden Dragon Index rising 0.30%.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell 1.09%.<a href=\"https://laohu8.com/S/JD\">JD.com</a>It fell 0.17%.<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell 1.49%.<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Up 0.80%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up 1.99%<a href=\"https://laohu8.com/S/NTES\">NetEase</a>It fell 0.45%.</p><p>3. Major European stock indices generally closed higher, with Germany's DAX 30 up 0.82%.</p><p>Major European stock indices closed higher on Wednesday, with Germany's DAX 30 up 0.82%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.55%, the French CAC40 rose 1.21%, and the European Stoxx 50 rose 0.97%.</p><p>4. Last week, EIA oil inventories surged by over 16 million barrels. Oil prices fell for two consecutive days, but the decline narrowed significantly at the close.</p><p>Oil prices fell for two consecutive days due to the prospect of central banks in Europe and the United States rate hike to higher levels for a longer period, as well as rising inventories, but improved demand and supply constraints provided some price support.</p><p>WTI crude oil futures for March delivery closed down $0.47, or 0.59%, at $78.59 a barrel. The intraday low was as low as $1.78, or 2.3%, and the daily low was near $77. U.S. stocks narrowed their losses significantly after midday. Brent crude oil futures for April delivery closed down $0.20, or 0.23%, at $85.38 a barrel. They fell as much as $1.67, or 2%, during the session, briefly falling below $84 before rebounding after midday.</p><p>5. New York gold futures fell 1.1% on Wednesday, hitting their lowest closing price in five weeks.</p><p>Gold futures for April delivery on the New York Mercantile Exchange fell $20.10, or 1.1%, to settle at $1,845.30 an ounce, the lowest closing price for the most active contract since January 5. A stronger dollar has put pressure on gold prices.</p><p>Macro News</p><p>1. Charlie Munger praises BYD: It dwarfs Tesla in the Chinese market.</p><p>On Wednesday (February 15) local time, Warren Buffett's long-time business partner,<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Vice Chairman Charlie Munger said it was unbelievable that BYD had dwarfed Tesla in the Chinese market.</p><p>The 99-year-old Munger praised BYD as his favorite stock to date, stating frankly that in his years working at Berkshire Hathaway, he had never made a transaction that could compare to investing in BYD.</p><p>2. US January retail sales data crushed expectations, with month-on-month growth reaching a new high since March 2021.</p><p>At 9:30 p.m. Beijing time on Wednesday, the U.S. Commerce Department's Census Bureau released January retail sales data. Similar to the surprising January non-farm payrolls data, U.S. retail sales surged 3% month-on-month in January, far exceeding market expectations of 1.8% and reaching a new high since March 2021.</p><p>3. The Federal Reserve's second-in-command is about to become vacant; the White House is considering appointing a newly appointed Chicago Fed president to succeed him.</p><p>According to media reports citing sources, the White House is considering nominating Chicago Fed President Goolsby, who took office last month, to serve as Vice Chairman of the Federal Reserve Board of Governors.</p><p>U.S. President Joe Biden announced on Tuesday that he will appoint current Federal Reserve Vice Chairman Lyle Brainard to the position of director of the White House National Economic Council (NEC). This means that with Brainard leaving the Federal Reserve next week, the position of Federal Reserve Vice Chairman will be vacant.</p><p>4. Musk sharply criticizes artificial intelligence: It is more dangerous than nuclear technology.</p><p>On Wednesday (February 15) local time, Elon Musk said at the 2023 World Government Summit in Dubai, UAE, that ChatGPT has confirmed that artificial intelligence (AI) has made incredible progress, but this has become something that humanity should be worried about.</p><p>In his video address, Musk emphasized that artificial intelligence is one of the greatest risks to the future of human civilization. He added, \"It has both positive and negative aspects; it has great prospects and great capabilities, but the dangers that come with it are also enormous.\"</p><p>Musk pointed out that the safety of artificial intelligence should now be monitored and managed, even if it slows down the development of the technology. He added that artificial intelligence actually poses a greater risk to society than cars, airplanes, or pharmaceuticals. \"Take nuclear technology as an example. We have nuclear energy, but we also have nuclear bombs.\"</p><p>5. IEA Monthly Report: China's economic recovery boosts global oil demand; supply shortages may occur in the second half of the year.</p><p>The International Energy Agency (IEA) raised its global oil demand forecast for this year on Wednesday, which is expected to significantly boost oil demand after China optimized its epidemic prevention policies. Meanwhile, the IEA predicts that there will be a supply shortage in the second half of this year.</p><p>In its monthly report, the IEA noted that global oil demand will surge to a record 101.9 million barrels per day this year, almost entirely due to strong demand in Asia, a forecast 200,000 barrels per day higher than the IEA's data last month.</p><p>Russia-Ukraine situation</p><p>1. Russian Foreign Minister: Will request the UN to investigate the damage to the Nord Stream pipeline.</p><p>On Wednesday (February 15) local time, Russian Foreign Minister Sergey Lavrov said that the West lied to Russia about the damage to the Nord Stream gas pipeline and concealed the truth about the damage.</p><p>Lavrov claimed that Russia is preparing to convene a special meeting of the UN Security Council and will request the UN to investigate the incident. Lavrov added that Russia disagrees with the claim that the United Nations has no authority to investigate the damage to the Nord Stream pipeline.</p><p>2. Uphold the tradition of neutrality? Swiss government: Confiscation of frozen Russian assets is illegal</p><p>On Wednesday (February 15) local time, the Swiss government stated that the confiscation of frozen Russian assets was unconstitutional and unlawful.</p><p>In a statement, the Swiss government said that a working group led by the Swiss Federal Office of Justice concluded that confiscating Russian private property would undermine the federal constitution and the existing legal order. The Swiss government stated that its support for Ukraine will continue regardless of the outcome.</p><p>3. Swedish Prime Minister Christensen stated that he will provide a batch of weapons to Ukraine.</p><p>According to Ukrainian media reports, on the 15th local time, Ukrainian President Zelenskyy and Prime Minister Shmegal met separately with visiting Swedish Prime Minister Christensen in Kyiv. The talks between the two sides mainly focused on bilateral military and energy cooperation. At a press conference following his talks with Zelensky, Kristersson stated that Sweden will provide Ukraine with 51 infantry fighting vehicles, one Archer self-propelled howitzer, and several anti-aircraft weapons. In addition, the possibility that Sweden will provide Gripen fighter jets to Ukraine cannot be ruled out, but only if the relevant countries reach an agreement.</p><p>Company News</p><p>1. The U.S. Department of Justice reportedly intensified its antitrust investigation into Apple.</p><p>According to media reports citing sources, the U.S. Department of Justice has intensified its efforts in drafting an antitrust lawsuit against Apple in recent months.</p><p>Sources familiar with the matter said the investigation into whether Apple possessed the monopoly power it abused began in 2019, but law enforcement has intensified its efforts in recent months, with more litigation lawyers now assigned to the case and requesting documents and advice from the companies involved. The investigation partly involves Apple's policies on managing mobile third-party software on its devices, and is also reportedly investigating whether Apple's iOS operates in an anti-competitive manner and whether it favors its own products.</p><p>2. Credit Suisse continues to reduce business risks and will no longer engage in non-performing loan business.</p><p>According to media reports citing sources, Credit Suisse Group will no longer engage in non-performing loan and special circumstances transactions in accordance with its plan to exit high-risk and capital-intensive businesses.</p><p>Sources familiar with the matter revealed that the bank will sell assets, including bonds and loans related to troubled companies, with a market value of approximately $250 million. After the portfolio was put up for sale last December, buyers will make their final offers this week. Credit Suisse has just launched a costly restructuring that includes cutting 9,000 jobs and bringing a large part of its investment banking business under the First Boston brand.</p><p>As part of its restructuring plan, Credit Suisse has established a \"non-core department\" under which the assets it plans to liquidate are listed because these assets are not related to its main wealth management business and are not in line with its investment banking strategy.</p><p>3. Apple has obtained a foldable screen technology patent and may be the first to launch a foldable iPad in 2024.</p><p>On Tuesday (February 14) local time, the U.S. Patent and Trademark Office (USPTO) website showed that Apple had obtained a blockbuster patent, igniting market expectations for the company to launch a foldable device.</p><p>The documents show that Apple showcased a foldable device in the patent, with a screen that almost wraps around the entire body. The device is equipped with multiple touch sensors, even at the edges of the device. The patent document shows that this will allow users to touch different parts of the device to achieve corresponding functions. For example, users can control the camera by tapping the side of the device, which Apple calls a \"virtual shutter button\"; Users can also swipe their fingers up and down the sides to control the device volume.</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>Analysts wrote in their latest report that the patent indicates the possibility of foldable devices, but not this year. Market research firm CCSInsight predicted last year that Apple would be the first to launch a foldable iPad in 2024.</p><p>4、<a href=\"https://laohu8.com/S/BA\">boeing</a>February 737 deliveries are expected to decline to the low end of the 20-30 aircraft range.</p><p>Boeing's CFO stated that 737 deliveries are expected to decline to the low end of the 20-30 aircraft range in February. By later 2023, Boeing will increase production of 737 aircraft to 38 per month; We maintain our forecast of 400-450 737 aircraft delivered this year; Supply chains remain unstable and unpredictable.</p><p>5. Ford has extended the production halt for the F-150 electric pickup truck until at least next weekend.</p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>On Wednesday, it announced that production of the F-150 Lightning electric pickup truck will be suspended until at least next weekend due to an investigation into battery issues.</p><p>Ford says it believes it has identified the root cause and expects to complete the investigation by next weekend, which could take several weeks to apply to the pickup truck's battery production process.</p><p>Ford revealed on Tuesday that it has suspended production and shipments of the F-150 Lighting electric pickup truck due to potential battery issues.</p><p></body></html></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>Last night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.</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\">\nLast night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.\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\">2023-02-16 07:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Abstract: ① Despite rising rate hike expectations, the three major U.S. stock indexes closed higher overnight, with the Nasdaq rising nearly 1%; ② Charlie Munger praised<a href=\"https://laohu8.com/S/002594\">BYD</a>In the Chinese market<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Pale in comparison; ③ Musk sharply criticized artificial intelligence: it is more dangerous than nuclear technology.<img src=\"https://static.tigerbbs.com/4bc45bac28ddf4f047f204e5e8c5f645\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>Overseas Market</p><p>1. Despite rising rate hike expectations, the three major US stock indexes closed higher, with the Nasdaq rising nearly 1%.</p><p>U.S. stocks closed higher on Wednesday, with the Nasdaq recording its third consecutive trading day of gains. U.S. retail sales rose 3% month-on-month in January, exceeding expectations and marking the largest increase since March 2021. This sends a clear signal that the economy is overheating and may indicate stubborn high inflation, increasing market expectations that the Federal Reserve may rate hike to higher levels for a longer period. At the close of trading, the Nasdaq index rose 0.92%; The Dow Jones Industrial Average rose 0.11%; The S&P 500 rose 0.28%.</p><p>Most large technology stocks rose.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Up 1.39%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>It rose 1.46%, while Meta fell 1.29%.<a href=\"https://laohu8.com/S/GOOG\">Google</a>Up 2.39%<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Down 0.80%, Netflix up 0.41%.<a href=\"https://laohu8.com/S/TSM\">TSMC</a>It fell 5.31%. WSB concept stocks and video game stocks led the gains, with Roblox rising over 26%.<a href=\"https://laohu8.com/S/GME\">Game Station</a>Up more than 9%,<a href=\"https://laohu8.com/S/HOOD\">Robinhood</a>It rose by more than 5%. Vaccine stocks and gold stocks saw the largest declines.<a href=\"https://laohu8.com/S/HL\">Hekla Mining</a>It fell more than 9%.<a href=\"https://laohu8.com/S/GORO\">gold resources</a>It fell more than 6%.<a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It fell by more than 3%.</p><p>A century-old bank—<a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>The stock price suddenly collapsed, with the stock plummeting as much as 11% in pre-market trading before closing down 8.41%. The company suddenly experienced two major shocks: First, according to sources, the UK's financial regulator is investigating...<a href=\"https://laohu8.com/S/BARC.UK\">Barclays Bank</a>An investigation was conducted to suspect that its compliance and anti-money laundering systems were persistently ineffective; Secondly, on February 15, Barclays announced its 2022 financial results. Financial reports show that Barclays' pre-tax profit in 2022 fell 14% year-on-year, far below market expectations.</p><p>2. Popular Chinese concept stocks showed mixed performance; the Nasdaq China Golden Dragon Index rose 0.30%.</p><p>Popular Chinese concept stocks were mixed, with the Nasdaq China Golden Dragon Index rising 0.30%.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell 1.09%.<a href=\"https://laohu8.com/S/JD\">JD.com</a>It fell 0.17%.<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell 1.49%.<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Up 0.80%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up 1.99%<a href=\"https://laohu8.com/S/NTES\">NetEase</a>It fell 0.45%.</p><p>3. Major European stock indices generally closed higher, with Germany's DAX 30 up 0.82%.</p><p>Major European stock indices closed higher on Wednesday, with Germany's DAX 30 up 0.82%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.55%, the French CAC40 rose 1.21%, and the European Stoxx 50 rose 0.97%.</p><p>4. Last week, EIA oil inventories surged by over 16 million barrels. Oil prices fell for two consecutive days, but the decline narrowed significantly at the close.</p><p>Oil prices fell for two consecutive days due to the prospect of central banks in Europe and the United States rate hike to higher levels for a longer period, as well as rising inventories, but improved demand and supply constraints provided some price support.</p><p>WTI crude oil futures for March delivery closed down $0.47, or 0.59%, at $78.59 a barrel. The intraday low was as low as $1.78, or 2.3%, and the daily low was near $77. U.S. stocks narrowed their losses significantly after midday. Brent crude oil futures for April delivery closed down $0.20, or 0.23%, at $85.38 a barrel. They fell as much as $1.67, or 2%, during the session, briefly falling below $84 before rebounding after midday.</p><p>5. New York gold futures fell 1.1% on Wednesday, hitting their lowest closing price in five weeks.</p><p>Gold futures for April delivery on the New York Mercantile Exchange fell $20.10, or 1.1%, to settle at $1,845.30 an ounce, the lowest closing price for the most active contract since January 5. A stronger dollar has put pressure on gold prices.</p><p>Macro News</p><p>1. Charlie Munger praises BYD: It dwarfs Tesla in the Chinese market.</p><p>On Wednesday (February 15) local time, Warren Buffett's long-time business partner,<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Vice Chairman Charlie Munger said it was unbelievable that BYD had dwarfed Tesla in the Chinese market.</p><p>The 99-year-old Munger praised BYD as his favorite stock to date, stating frankly that in his years working at Berkshire Hathaway, he had never made a transaction that could compare to investing in BYD.</p><p>2. US January retail sales data crushed expectations, with month-on-month growth reaching a new high since March 2021.</p><p>At 9:30 p.m. Beijing time on Wednesday, the U.S. Commerce Department's Census Bureau released January retail sales data. Similar to the surprising January non-farm payrolls data, U.S. retail sales surged 3% month-on-month in January, far exceeding market expectations of 1.8% and reaching a new high since March 2021.</p><p>3. The Federal Reserve's second-in-command is about to become vacant; the White House is considering appointing a newly appointed Chicago Fed president to succeed him.</p><p>According to media reports citing sources, the White House is considering nominating Chicago Fed President Goolsby, who took office last month, to serve as Vice Chairman of the Federal Reserve Board of Governors.</p><p>U.S. President Joe Biden announced on Tuesday that he will appoint current Federal Reserve Vice Chairman Lyle Brainard to the position of director of the White House National Economic Council (NEC). This means that with Brainard leaving the Federal Reserve next week, the position of Federal Reserve Vice Chairman will be vacant.</p><p>4. Musk sharply criticizes artificial intelligence: It is more dangerous than nuclear technology.</p><p>On Wednesday (February 15) local time, Elon Musk said at the 2023 World Government Summit in Dubai, UAE, that ChatGPT has confirmed that artificial intelligence (AI) has made incredible progress, but this has become something that humanity should be worried about.</p><p>In his video address, Musk emphasized that artificial intelligence is one of the greatest risks to the future of human civilization. He added, \"It has both positive and negative aspects; it has great prospects and great capabilities, but the dangers that come with it are also enormous.\"</p><p>Musk pointed out that the safety of artificial intelligence should now be monitored and managed, even if it slows down the development of the technology. He added that artificial intelligence actually poses a greater risk to society than cars, airplanes, or pharmaceuticals. \"Take nuclear technology as an example. We have nuclear energy, but we also have nuclear bombs.\"</p><p>5. IEA Monthly Report: China's economic recovery boosts global oil demand; supply shortages may occur in the second half of the year.</p><p>The International Energy Agency (IEA) raised its global oil demand forecast for this year on Wednesday, which is expected to significantly boost oil demand after China optimized its epidemic prevention policies. Meanwhile, the IEA predicts that there will be a supply shortage in the second half of this year.</p><p>In its monthly report, the IEA noted that global oil demand will surge to a record 101.9 million barrels per day this year, almost entirely due to strong demand in Asia, a forecast 200,000 barrels per day higher than the IEA's data last month.</p><p>Russia-Ukraine situation</p><p>1. Russian Foreign Minister: Will request the UN to investigate the damage to the Nord Stream pipeline.</p><p>On Wednesday (February 15) local time, Russian Foreign Minister Sergey Lavrov said that the West lied to Russia about the damage to the Nord Stream gas pipeline and concealed the truth about the damage.</p><p>Lavrov claimed that Russia is preparing to convene a special meeting of the UN Security Council and will request the UN to investigate the incident. Lavrov added that Russia disagrees with the claim that the United Nations has no authority to investigate the damage to the Nord Stream pipeline.</p><p>2. Uphold the tradition of neutrality? Swiss government: Confiscation of frozen Russian assets is illegal</p><p>On Wednesday (February 15) local time, the Swiss government stated that the confiscation of frozen Russian assets was unconstitutional and unlawful.</p><p>In a statement, the Swiss government said that a working group led by the Swiss Federal Office of Justice concluded that confiscating Russian private property would undermine the federal constitution and the existing legal order. The Swiss government stated that its support for Ukraine will continue regardless of the outcome.</p><p>3. Swedish Prime Minister Christensen stated that he will provide a batch of weapons to Ukraine.</p><p>According to Ukrainian media reports, on the 15th local time, Ukrainian President Zelenskyy and Prime Minister Shmegal met separately with visiting Swedish Prime Minister Christensen in Kyiv. The talks between the two sides mainly focused on bilateral military and energy cooperation. At a press conference following his talks with Zelensky, Kristersson stated that Sweden will provide Ukraine with 51 infantry fighting vehicles, one Archer self-propelled howitzer, and several anti-aircraft weapons. In addition, the possibility that Sweden will provide Gripen fighter jets to Ukraine cannot be ruled out, but only if the relevant countries reach an agreement.</p><p>Company News</p><p>1. The U.S. Department of Justice reportedly intensified its antitrust investigation into Apple.</p><p>According to media reports citing sources, the U.S. Department of Justice has intensified its efforts in drafting an antitrust lawsuit against Apple in recent months.</p><p>Sources familiar with the matter said the investigation into whether Apple possessed the monopoly power it abused began in 2019, but law enforcement has intensified its efforts in recent months, with more litigation lawyers now assigned to the case and requesting documents and advice from the companies involved. The investigation partly involves Apple's policies on managing mobile third-party software on its devices, and is also reportedly investigating whether Apple's iOS operates in an anti-competitive manner and whether it favors its own products.</p><p>2. Credit Suisse continues to reduce business risks and will no longer engage in non-performing loan business.</p><p>According to media reports citing sources, Credit Suisse Group will no longer engage in non-performing loan and special circumstances transactions in accordance with its plan to exit high-risk and capital-intensive businesses.</p><p>Sources familiar with the matter revealed that the bank will sell assets, including bonds and loans related to troubled companies, with a market value of approximately $250 million. After the portfolio was put up for sale last December, buyers will make their final offers this week. Credit Suisse has just launched a costly restructuring that includes cutting 9,000 jobs and bringing a large part of its investment banking business under the First Boston brand.</p><p>As part of its restructuring plan, Credit Suisse has established a \"non-core department\" under which the assets it plans to liquidate are listed because these assets are not related to its main wealth management business and are not in line with its investment banking strategy.</p><p>3. Apple has obtained a foldable screen technology patent and may be the first to launch a foldable iPad in 2024.</p><p>On Tuesday (February 14) local time, the U.S. Patent and Trademark Office (USPTO) website showed that Apple had obtained a blockbuster patent, igniting market expectations for the company to launch a foldable device.</p><p>The documents show that Apple showcased a foldable device in the patent, with a screen that almost wraps around the entire body. The device is equipped with multiple touch sensors, even at the edges of the device. The patent document shows that this will allow users to touch different parts of the device to achieve corresponding functions. For example, users can control the camera by tapping the side of the device, which Apple calls a \"virtual shutter button\"; Users can also swipe their fingers up and down the sides to control the device volume.</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>Analysts wrote in their latest report that the patent indicates the possibility of foldable devices, but not this year. Market research firm CCSInsight predicted last year that Apple would be the first to launch a foldable iPad in 2024.</p><p>4、<a href=\"https://laohu8.com/S/BA\">boeing</a>February 737 deliveries are expected to decline to the low end of the 20-30 aircraft range.</p><p>Boeing's CFO stated that 737 deliveries are expected to decline to the low end of the 20-30 aircraft range in February. By later 2023, Boeing will increase production of 737 aircraft to 38 per month; We maintain our forecast of 400-450 737 aircraft delivered this year; Supply chains remain unstable and unpredictable.</p><p>5. Ford has extended the production halt for the F-150 electric pickup truck until at least next weekend.</p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>On Wednesday, it announced that production of the F-150 Lightning electric pickup truck will be suspended until at least next weekend due to an investigation into battery issues.</p><p>Ford says it believes it has identified the root cause and expects to complete the investigation by next weekend, which could take several weeks to apply to the pickup truck's battery production process.</p><p>Ford revealed on Tuesday that it has suspended production and shipments of the F-150 Lighting electric pickup truck due to potential battery issues.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"BK4585":"ETF&股票定投概念",".DJI":"道琼斯","BK4561":"索罗斯持仓","QLD":"2倍做多纳斯达克100指数ETF-ProShares","BK4534":"瑞士信贷持仓","03086":"华夏纳指","PSQ":"做空纳斯达克100指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","BK4581":"高盛持仓",".IXIC":"NASDAQ Composite","QID":"两倍做空纳斯达克指数ETF-ProShares","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF",".SPX":"S&P 500 Index","BK4550":"红杉资本持仓"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124094165","content_text":"摘要：①无惧加息预期升温，隔夜美股三大股指收高，纳指涨近1%；②查理·芒格盛赞比亚迪：在中国市场让特斯拉相形见绌；③马斯克锐评人工智能：危险程度超过核技术。海外行情1、无惧加息预期升温美股三大股指收高纳指涨近1%美股周三收高，纳指录得连续第三个交易日上涨。美国1月零售销售超预期环比增长3%，创2021年3月以来最大增幅，发出明确的经济过热信号，或意味着高通胀顽固，增加了市场对美联储可能在更长时间内加息至更高水平的预期。截至收盘，纳斯达克指数涨幅为0.92%；道琼斯指数涨幅为0.11%；标普500指数涨幅为0.28%。大型科技股多数上涨，苹果涨1.39%，亚马逊涨1.46%，Meta跌1.29%，谷歌涨2.39%，微软跌0.80%，奈飞涨0.41%，台积电跌5.31%。WSB概念股、电游股涨幅居前，Roblox涨超26%，游戏驿站涨超9%，Robinhood涨超5%。疫苗股、黄金股跌幅居前，赫克拉矿业跌超9%，黄金资源跌超6%，礼来跌超3%。百年大行——巴克莱银行股价突然崩盘，美股盘前该股一度狂跌11%，最终收跌8.41%。该公司突然出现两个大雷：一是据知情人士透露，英国金融监督管理机构正在对巴克莱银行进行调查，怀疑其合规和反洗钱系统持续失效；二是2月15日，巴克莱公布了2022年财务业绩。财报显示，巴克莱2022年税前利润同比下降14%，远低市场预期。2、热门中概股涨跌不一 纳斯达克中国金龙指数涨0.30%热门中概股涨跌不一，纳斯达克中国金龙指数涨0.30%，阿里巴巴跌1.09%，京东跌0.17%，拼多多跌1.49%，哔哩哔哩涨0.80%，百度涨1.99%，网易跌0.45%。3、欧股主要指数收盘普涨德国DAX30指数涨0.82%欧股主要指数周三收盘普涨，德国DAX30指数涨0.82%，英国富时100指数涨0.55%，法国CAC40指数涨1.21%，欧洲斯托克50指数涨0.97%。4、上周EIA油储激增超1600万桶油价连跌两日但尾盘跌幅显著收窄欧美央行在更长时间内加息至更高水平的前景，以及库存增加令油价连跌两日，但需求改善和供应限制提供一定价格支撑。WTI 3月原油期货收跌0.47美元，跌幅0.59%，报78.59美元/桶，盘中最深跌1.78美元或跌2.3%，日低下逼77美元，美股午盘后跌幅显著收窄。布伦特4月原油期货收跌0.20美元，跌幅0.23%，报85.38美元/桶，盘中最深跌1.67美元或跌2%，一度失守84美元，午盘后一度转涨。5、纽约黄金期货周三收跌1.1% 创五周来最低收盘价纽约商品交易所4月交割的黄金期货价格下跌20.10美元，跌幅为1.1%，收于每盎司1845.30美元，为1月5日以来最活跃合约的最低收盘价。美元走强令黄金价格承压。宏观新闻1、查理·芒格盛赞比亚迪：在中国市场让特斯拉相形见绌当地时间周三（2月15日），“股神”巴菲特的长期商业伙伴、伯克希尔副董事长查理·芒格表示，比亚迪在中国市场让特斯拉相形见绌，这令人难以置信。现年99岁的芒格盛赞比亚迪是他迄今为止最喜欢的股票，他直言，在伯克希尔工作的这些年，他没有进行过能够比肩投资比亚迪的操作。2、美国1月零售数据碾压预期 环比增速创2021年3月以来新高北京时间周三晚21点30分，美国商务部普查局发布1月零售销售数据。与令人大跌眼镜的1月非农一样，美国1月零售数据环比暴拉3%，远超市场预期的1.8%，并创下2021年3月以来新高。3、美联储“二把手”即将空缺 白宫考虑让新晋芝加哥联储主席继任据媒体援引消息人士报道，白宫正在考虑提名上月刚就任的芝加哥联储主席古尔斯比担任美联储理事会副主席。美国总统拜登周二宣布，他将任命现任美联储副主席莱尔·布雷纳德担任白宫国家经济委员会（NEC）主任一职。这意味着随着布雷纳德下周离开美国央行，美联储副主席的职位将处于空缺状态。4、马斯克锐评人工智能：危险程度超过核技术当地时间周三（2月15日），埃隆·马斯克在阿联酋迪拜的2023年世界政府峰会上表示，ChatGPT证实了人工智能（AI）已经获得了令人难以置信的发展，但这已成为人类应该担心的一件事。马斯克在视频发言中强调，人工智能是未来人类文明最大的风险之一。他补充称，“它有积极的一面，也有消极的一面，有巨大的前景也有巨大的能力，但随之而来的危险也是巨大的。”马斯克指出，现在应该监督管理人工智能的安全问题，即使会放慢这一技术的发展速度。他补充称，实际上，人工智能对社会的风险要比汽车、飞机或药品更大，“以核技术为例，我们有核能，但也有核弹。”5、IEA月报：中国经济复苏提振全球石油需求 下半年可能出现供应短缺国际能源署(IEA)周三上调了今年全球石油需求预期，在中国优化防疫政策之后，将显著提振今年石油需求。同时IEA预测今年下半年将会出现供应短缺。IEA在月度报告中指出，今年的全球石油需求将飙升至创纪录的1.019亿桶/日，几乎完全得益于亚洲的旺盛需求，这一预期比IEA上个月的数据要高出20万桶/日。俄乌局势1、俄外长：将要求联合国对“北溪”管道遭破坏事件进行调查当地时间周三(2月15日)，俄罗斯外交部长拉夫罗夫表示，西方在“北溪”天然气管道遭破坏问题上对俄罗斯撒谎，隐瞒关于北溪管道遭破坏的真相。拉夫罗夫声称，俄方正就召开联合国安理会特别会议做准备，将要求联合国对事件进行调查。拉夫罗夫补充说，俄方不同意有关联合国无权调查北溪管道遭破坏事件的说法。2、坚守中立传统？瑞士政府：没收俄罗斯被冻结资产不合法当地时间周三（2月15日），瑞士政府表示，没收被冻结的俄罗斯资产不符合宪法和法律。瑞士政府在声明中表示，由瑞士联邦司法办公室领导的一个工作组得出结论：没收俄罗斯私人财产将破坏联邦宪法和现行法律秩序。瑞士政府称，无论结论如何，该国对乌克兰的支持将继续下去。3、瑞典首相克里斯特松表示将向乌克兰提供一批武器据乌克兰媒体报道，当地时间15日，乌总统泽连斯基和总理什梅加尔在基辅分别会见了到访的瑞典首相克里斯特松。双方会谈内容主要集中在双边军事和能源合作。在与泽连斯基会谈后举行的新闻发布会上，克里斯特松表示，瑞典将向乌方提供51辆步兵战车、1套“弓箭手”自行榴弹炮和若干防空武器。此外，不排除瑞典将向乌克兰提供“鹰狮”战斗机的可能性，但前提是相关国家达成一致。公司新闻1、美国司法部据称加大对苹果的反垄断调查力度据媒体援引消息人士报道，美国司法部近几个月加大了起草针对苹果公司的反垄断诉讼的工作力度。知情人士称，对苹果是否拥有其滥用的垄断权力的调查始于2019年，但执法人员最近几个月加大了力度，现在有更多诉讼律师被派往负责此案，并要求相关公司提供文件和咨询。该调查部分涉及苹果在其设备上管理移动第三方软件的政策，据悉还在调查苹果iOS是否以反竞争的方式运营，是否偏袒自己的产品。2、瑞信继续削减业务风险 将不再从事不良债业务据媒体援引消息人士报道，瑞信集团按照其退出高风险和资本密集型业务的计划，将不再从事不良债务和特殊情况交易。知情人士透露，该行将会抛售与陷入困境的企业有关的债券和贷款在内的资产，市值大约2.5亿美元。去年12月份投资组合待售后，买家将于本周给出最终出价。瑞信刚刚启动代价高昂的重组，其中包括裁减9000个岗位，以及将一大块投行业务列入First Boston品牌之下。作为重组计划的一部分，瑞信已经设立了一个“非核心部门”，其计划清算的资产列在该部门之下，因这些资产与主要的理财业务没有关联，也不符合投行策略。3、苹果获得折叠屏技术专利 或将在2024年率先推出折叠屏iPad当地时间周二（2月14日），美国专利及商标局（USPTO）网站显示，苹果获得了一份重磅专利，燃起了市场对这家公司推出可折叠设备的预期。文件显示，苹果在专利展示了一件可以对折的设备，屏幕几乎环绕整个机身，这件设备配备多个触摸传感器，甚至是在设备边缘的部位。专利文件显示，这将允许用户通过触摸设备的不同部分，以实现对应的功能。例如，用户可以通过轻敲设备的侧面来控制摄像头，苹果将其称为“虚拟快门按钮”；用户还可以用手指在侧面上下滑动来控制设备音量。瑞银分析师在最新报告中写道，这项专利表明了可折叠设备的可能性，但不是在今年。市场研究公司CCSInsight去年预计，苹果将在2024年率先推出折叠屏iPad。4、波音：预计2月737交付量将下滑至20-30架区间的低端波音公司CFO称，预计2月份737飞机交付量将下滑至20-30架区间的低端；到2023年稍晚，波音将把737飞机产量提高至每个月38架；维持737 飞机今年的交付量为400-450架的预测；供应链仍然不稳定，也仍然不可预测。5、福特将F-150电动皮卡的停产时间延长至至少下周末福特汽车周三表示，因正在调查电池问题，将暂停F-150 Lightning电动皮卡的生产至少到下周末。福特称，它相信已经确定了根本原因，预计在下周末之前完成调查，并将调查应用到皮卡的电池生产过程中，这可能需要几周的时间。福特周二透露，由于潜在的电池问题，已暂停F-150 Lighting电动皮卡的生产和出货。","news_type":1,"symbols_score_info":{"QQQ":0.9,"SQQQ":0.9,".DJI":0.9,"03086":0.9,"TQQQ":0.9,".IXIC":0.9,"MNQmain":0.9,".SPX":0.9,"QLD":0.9,"PSQ":0.9,"QID":0.9,"NQmain":0.9}},"isVote":1,"tweetType":1,"viewCount":4785,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":625280494,"gmtCreate":1676508761120,"gmtModify":1676508761120,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/625280494","repostId":"1124094165","repostType":2,"isVote":1,"tweetType":1,"viewCount":4889,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":664218967,"gmtCreate":1668059961960,"gmtModify":1676538006491,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/.IXIC\">$纳斯达克(.IXIC)$&nbsp;</a>","listText":"<a 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07:08","market":"hk","language":"zh","title":"Weekly Preview | US Non-Farm Payrolls and Powell's Monetary Policy Testimony Arrive! JD.com, Sea, and others will release their financial reports.","url":"https://stock-news.laohu8.com/highlight/detail?id=1128373353","media":"老虎资讯综合","summary":"本周（3.6-3.10）重磅财经事件及数据如下：经济数据方面，本周将发布多个重要经济数据，其中，美国ADP就业人数、中国通胀数据、美国当周初请失业金人数、美国非农就业人口及失业率等将陆续公布。财经事件","content":"<p><html><head></head><body>The major financial events and data for this week (March 6-10) are as follows:</p><p>In terms of economic data, several important economic data will be released this week, including the US ADP employment figures, China's inflation data, the number of initial jobless claims in the US that week, the US non-farm payrolls, and the unemployment rate. Regarding financial events, Powell will deliver semi-annual monetary policy testimony before the Senate and House of Representatives on Tuesday and Wednesday, respectively, and the Federal Reserve will release its Beige Book on the state of the economy. In terms of financial reports, Ctrip, Sea, China Unicom, Yatsen E-commerce, JD.com, JD Logistics, ZTE, and Oracle will release their financial reports one after another.<img src=\"https://static.tigerbbs.com/bab17450ccf7887b75282b47453c9066\" tg-width=\"2059\" tg-height=\"1458\" referrerpolicy=\"no-referrer\"/><b>Keywords for Monday, March 6th: US factory order month-on-month rate, Lordstown Motors, Ctrip financial report</b><img src=\"https://static.tigerbbs.com/58464a035078da01287fc5da7977e623\" tg-width=\"950\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/></p><p>On Monday, regarding economic data, investors can focus on the month-on-month rate of U.S. factory orders.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors</a>Earnings reports will be released before the US stock market opens.<a href=\"https://laohu8.com/S/TCOM\">Ctrip</a>Earnings reports will be released after the US stock market closes.</p><p><b>Keywords for Tuesday, March 7th: Powell's monetary policy testimony, Sea earnings report</b></p><p><img src=\"https://static.tigerbbs.com/01a4219e07795ae584912828a498456c\" tg-width=\"955\" tg-height=\"1182\" referrerpolicy=\"no-referrer\"/></p><p>On Tuesday, economic data will be released, including China's trade balance and the monthly rate of U.S. wholesale sales.</p><p>Regarding financial events, Powell will deliver his semi-annual monetary policy testimony before the Senate and House of Representatives on Tuesday and Wednesday, respectively. The testimony is usually divided into two parts: the first part is Powell's prepared statement, and the second part is a question-and-answer session with the committee.</p><p>During the Q&A session, Powell will undoubtedly be asked about inflation and the possibility that the Federal Reserve's tightening policies could lead to a recession in the U.S. economy. If Powell indicates that it is unlikely to rate hike 50 basis points again in the near future, the dollar could face selling pressure and open the door for further gains in gold. According to CME group’s Fed Watch tool, the market expects a close to 30% chance of rate hike hitting 50 basis points at the next meeting. If Powell is not so hawkish, then US Treasury Bond yields and the dollar may still have room to decline.</p><p>On the other hand, Powell may choose to avoid committing to the size of the next rate hike and reiterate that the Federal Reserve will still rely on data. Under these circumstances, market trends are likely to remain volatile until the February non-farm payroll report is released. In Powell's testimony, his comments on the anti-inflation process and economic growth prospects were also important.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/SE\">Sea</a>Earnings reports will be released before the US stock market opens.</p><p><b>Keywords for Wednesday, March 8th: US ADP employment figures, Powell's monetary policy testimony, China Unicom's financial report</b></p><p><img src=\"https://static.tigerbbs.com/8340ee1c8a929f4a8d5b86610d4152d2\" tg-width=\"951\" tg-height=\"1322\" referrerpolicy=\"no-referrer\"/></p><p>On Wednesday, regarding economic data, investors should pay attention to the U.S. ADP employment figures, which are currently expected to be 168,000, up from the previous reading of 106,000.</p><p>Regarding financial events, Federal Reserve Chairman Jerome Powell will deliver his semi-annual monetary policy testimony before the House of Representatives.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/00762\">China Unicom</a>as well as<a href=\"https://laohu8.com/S/YSG\">Yixian E-commerce</a>Financial reports will be released separately,<a href=\"https://laohu8.com/S/FFIE\">Faraday Future Intelligent Electric Inc.</a>Earnings reports will also be released after the US stock market closes.</p><p><b>Keywords for Thursday, March 9th: China CPI, US initial jobless claims for the week, Federal Reserve Beige Book, JD.com earnings report</b></p><p><img src=\"https://static.tigerbbs.com/c49159c19ef5f8586206c44574300846\" tg-width=\"950\" tg-height=\"958\" referrerpolicy=\"no-referrer\"/></p><p>On Thursday, regarding economic data, investors should pay attention to the number of initial jobless claims in the United States that week. Since the beginning of January this year, the number of initial jobless claims has been below 200,000, which to some extent reflects the continued strength of the U.S. job market. For the Federal Reserve, while seeking to control inflation, it is also looking for signs of a cooling labor market, which also suggests that the Fed may not like the signals sent by initial jobless claims data. Strong employment data will undoubtedly increase the likelihood of Federal Reserve rate hike, with interest rate futures markets now officially pricing in a peak Fed rate of 5.5%.</p><p>In addition, China's inflation data will also be released today. Meanwhile, investors can pay attention to Chinese financial data, which will be released irregularly from the 9th to the 15th of each month.</p><p>Regarding financial events, the Federal Reserve will release its Beige Book on the state of the economy, which will provide investors with a deeper understanding of the US economy and should therefore be taken seriously.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/09618\">JD.com - SW</a>、<a href=\"https://laohu8.com/S/02618\">JD Logistics</a>Financial reports will be released, in addition<a href=\"https://laohu8.com/S/ORCL\">Oracle bone script</a>Earnings reports will also be released after the US stock market closes.</p><p>The market is eagerly awaiting JD.com's management's views on the \"10 billion yuan subsidy\" battle regarding JD.com's financial report. Morgan Stanley believes that JD.com's 10 billion yuan subsidy plan and its profit margin in 2023 may be the next catalyst for its stock price. The bank believes that the market has overestimated the incremental costs related to the 10 billion yuan subsidy. The bank believes that management's positive measures to improve profit margins may drive up the stock price. The bank maintained its \"overweight\" rating and $74 target price.</p><p><b>Keywords for Friday, March 10th: US non-farm payrolls, US unemployment rate, ZTE/Wuxin Technology financial report</b></p><p><img src=\"https://static.tigerbbs.com/0cdbea3d6406e540d8fc538b4154463e\" tg-width=\"951\" tg-height=\"1087\" referrerpolicy=\"no-referrer\"/></p><p>On Friday, in terms of economic data, the US will release its February non-farm payroll data, with market expectations for growth falling to 200,000. Non-farm payroll data has always been a focus of market attention and the \"number one enemy\" of the Federal Reserve stopping tightening. The explosive growth in non-farm payrolls in January and the unexpected decline in initial jobless claims last week all reveal that the US labor market remains strong. Investors will use this data to judge the resilience of the U.S. labor market and the extent of the Federal Reserve's rate hike at its March meeting.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/00763\">ZTE Corporation</a>、<a href=\"https://laohu8.com/S/RLX\">Fog Core Technology</a>Financial reports will be released.</p><p></body></html></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>Weekly Preview | US Non-Farm Payrolls and Powell's Monetary Policy Testimony Arrive! JD.com, Sea, and others will release their financial reports.</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\">\nWeekly Preview | US Non-Farm Payrolls and Powell's Monetary Policy Testimony Arrive! JD.com, Sea, and others will release their financial reports.\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\">2023-03-06 07:08</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The major financial events and data for this week (March 6-10) are as follows:</p><p>In terms of economic data, several important economic data will be released this week, including the US ADP employment figures, China's inflation data, the number of initial jobless claims in the US that week, the US non-farm payrolls, and the unemployment rate. Regarding financial events, Powell will deliver semi-annual monetary policy testimony before the Senate and House of Representatives on Tuesday and Wednesday, respectively, and the Federal Reserve will release its Beige Book on the state of the economy. In terms of financial reports, Ctrip, Sea, China Unicom, Yatsen E-commerce, JD.com, JD Logistics, ZTE, and Oracle will release their financial reports one after another.<img src=\"https://static.tigerbbs.com/bab17450ccf7887b75282b47453c9066\" tg-width=\"2059\" tg-height=\"1458\" referrerpolicy=\"no-referrer\"/><b>Keywords for Monday, March 6th: US factory order month-on-month rate, Lordstown Motors, Ctrip financial report</b><img src=\"https://static.tigerbbs.com/58464a035078da01287fc5da7977e623\" tg-width=\"950\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/></p><p>On Monday, regarding economic data, investors can focus on the month-on-month rate of U.S. factory orders.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors</a>Earnings reports will be released before the US stock market opens.<a href=\"https://laohu8.com/S/TCOM\">Ctrip</a>Earnings reports will be released after the US stock market closes.</p><p><b>Keywords for Tuesday, March 7th: Powell's monetary policy testimony, Sea earnings report</b></p><p><img src=\"https://static.tigerbbs.com/01a4219e07795ae584912828a498456c\" tg-width=\"955\" tg-height=\"1182\" referrerpolicy=\"no-referrer\"/></p><p>On Tuesday, economic data will be released, including China's trade balance and the monthly rate of U.S. wholesale sales.</p><p>Regarding financial events, Powell will deliver his semi-annual monetary policy testimony before the Senate and House of Representatives on Tuesday and Wednesday, respectively. The testimony is usually divided into two parts: the first part is Powell's prepared statement, and the second part is a question-and-answer session with the committee.</p><p>During the Q&A session, Powell will undoubtedly be asked about inflation and the possibility that the Federal Reserve's tightening policies could lead to a recession in the U.S. economy. If Powell indicates that it is unlikely to rate hike 50 basis points again in the near future, the dollar could face selling pressure and open the door for further gains in gold. According to CME group’s Fed Watch tool, the market expects a close to 30% chance of rate hike hitting 50 basis points at the next meeting. If Powell is not so hawkish, then US Treasury Bond yields and the dollar may still have room to decline.</p><p>On the other hand, Powell may choose to avoid committing to the size of the next rate hike and reiterate that the Federal Reserve will still rely on data. Under these circumstances, market trends are likely to remain volatile until the February non-farm payroll report is released. In Powell's testimony, his comments on the anti-inflation process and economic growth prospects were also important.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/SE\">Sea</a>Earnings reports will be released before the US stock market opens.</p><p><b>Keywords for Wednesday, March 8th: US ADP employment figures, Powell's monetary policy testimony, China Unicom's financial report</b></p><p><img src=\"https://static.tigerbbs.com/8340ee1c8a929f4a8d5b86610d4152d2\" tg-width=\"951\" tg-height=\"1322\" referrerpolicy=\"no-referrer\"/></p><p>On Wednesday, regarding economic data, investors should pay attention to the U.S. ADP employment figures, which are currently expected to be 168,000, up from the previous reading of 106,000.</p><p>Regarding financial events, Federal Reserve Chairman Jerome Powell will deliver his semi-annual monetary policy testimony before the House of Representatives.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/00762\">China Unicom</a>as well as<a href=\"https://laohu8.com/S/YSG\">Yixian E-commerce</a>Financial reports will be released separately,<a href=\"https://laohu8.com/S/FFIE\">Faraday Future Intelligent Electric Inc.</a>Earnings reports will also be released after the US stock market closes.</p><p><b>Keywords for Thursday, March 9th: China CPI, US initial jobless claims for the week, Federal Reserve Beige Book, JD.com earnings report</b></p><p><img src=\"https://static.tigerbbs.com/c49159c19ef5f8586206c44574300846\" tg-width=\"950\" tg-height=\"958\" referrerpolicy=\"no-referrer\"/></p><p>On Thursday, regarding economic data, investors should pay attention to the number of initial jobless claims in the United States that week. Since the beginning of January this year, the number of initial jobless claims has been below 200,000, which to some extent reflects the continued strength of the U.S. job market. For the Federal Reserve, while seeking to control inflation, it is also looking for signs of a cooling labor market, which also suggests that the Fed may not like the signals sent by initial jobless claims data. Strong employment data will undoubtedly increase the likelihood of Federal Reserve rate hike, with interest rate futures markets now officially pricing in a peak Fed rate of 5.5%.</p><p>In addition, China's inflation data will also be released today. Meanwhile, investors can pay attention to Chinese financial data, which will be released irregularly from the 9th to the 15th of each month.</p><p>Regarding financial events, the Federal Reserve will release its Beige Book on the state of the economy, which will provide investors with a deeper understanding of the US economy and should therefore be taken seriously.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/09618\">JD.com - SW</a>、<a href=\"https://laohu8.com/S/02618\">JD Logistics</a>Financial reports will be released, in addition<a href=\"https://laohu8.com/S/ORCL\">Oracle bone script</a>Earnings reports will also be released after the US stock market closes.</p><p>The market is eagerly awaiting JD.com's management's views on the \"10 billion yuan subsidy\" battle regarding JD.com's financial report. Morgan Stanley believes that JD.com's 10 billion yuan subsidy plan and its profit margin in 2023 may be the next catalyst for its stock price. The bank believes that the market has overestimated the incremental costs related to the 10 billion yuan subsidy. The bank believes that management's positive measures to improve profit margins may drive up the stock price. The bank maintained its \"overweight\" rating and $74 target price.</p><p><b>Keywords for Friday, March 10th: US non-farm payrolls, US unemployment rate, ZTE/Wuxin Technology financial report</b></p><p><img src=\"https://static.tigerbbs.com/0cdbea3d6406e540d8fc538b4154463e\" tg-width=\"951\" tg-height=\"1087\" referrerpolicy=\"no-referrer\"/></p><p>On Friday, in terms of economic data, the US will release its February non-farm payroll data, with market expectations for growth falling to 200,000. Non-farm payroll data has always been a focus of market attention and the \"number one enemy\" of the Federal Reserve stopping tightening. The explosive growth in non-farm payrolls in January and the unexpected decline in initial jobless claims last week all reveal that the US labor market remains strong. Investors will use this data to judge the resilience of the U.S. labor market and the extent of the Federal Reserve's rate hike at its March meeting.</p><p>Regarding financial reports,<a href=\"https://laohu8.com/S/00763\">ZTE Corporation</a>、<a href=\"https://laohu8.com/S/RLX\">Fog Core Technology</a>Financial reports will be released.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d256e82db1d71c864259845ce1d069bf","relate_stocks":{"SPY":"标普500ETF","JD":"京东","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","DJX":"1/100道琼斯","GDX":"黄金矿业ETF-VanEck",".DJI":"道琼斯","LU2257852520.SGD":"JPMorgan Funds - Asia Growth A (acc) SGD","IE00BGV7N243.SGD":"FSSA Global Emerging Markets Focus I Acc SGD","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","09618":"京东集团-SW",".IXIC":"NASDAQ Composite","BK1591":"就地过年概念","BK1502":"双十一","BK4581":"高盛持仓","UDOW":"三倍做多道指30ETF-ProShares"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128373353","content_text":"本周（3.6-3.10）重磅财经事件及数据如下：经济数据方面，本周将发布多个重要经济数据，其中，美国ADP就业人数、中国通胀数据、美国当周初请失业金人数、美国非农就业人口及失业率等将陆续公布。财经事件方面，鲍威尔在周二和周三将分别于参、众两院发表半年度货币政策证词，此外美联储将公布经济状况褐皮书。财报方面，携程网、Sea、中国联通、逸仙电商、京东、京东物流、中兴通讯以及甲骨文等将陆续发布财报。3月6日 周一关键词：美国工厂订单月率、Lordstown Motors、携程网财报周一，经济数据方面，投资者可关注美国工厂订单月率。财报方面，Lordstown Motors将于美股盘前公布财报，而携程网将于美股盘后公布财报。3月7日 周二关键词：鲍威尔发表货币政策证词、Sea财报周二，经济数据方面将公布中国贸易帐，以及美国批发销售月率等数据。财经事件方面，鲍威尔在周二和周三将分别于参、众两院发表半年度货币政策证词，证词通常分为两部分，第一部分是鲍威尔准备好的陈述，第二部分是与委员会的问答环节。在问答环节，鲍威尔肯定会被问及通胀问题，以及美联储收紧政策导致美国经济陷入衰退的可能性。如果鲍威尔表示在不久的将来不太可能再次加息50个基点，美元可能面临抛售压力，并为黄金的进一步上涨打开大门。根据芝商所的美联储观察工具，市场预期下一次会议加息50个基点的可能性接近30%，如果鲍威尔没有那么“鹰”，那么美国国债收益率和美元或仍有下行空间。另一方面，鲍威尔可能选择避免承诺下一次加息的规模，并重申美联储仍将依赖于数据。这种情况下，在2月非农就业报告公布之前，市场走势可能仍将震荡。在鲍威尔的证词中，其对反通胀进程和经济增长前景的评论也很重要。财报方面，Sea将于美股盘前公布财报。3月8日 周三关键词：美国ADP就业人数、鲍威尔发表货币政策证词、中国联通财报周三，经济数据方面，投资者可关注美国ADP就业人数，目前市场预期为16.8万，高于10.6万的前值。财经事件方面，美联储主席鲍威尔将在众议院发表半年度货币政策证词。财报方面，中国联通以及逸仙电商将分别发布财报，另外Faraday Future Intelligent Electric Inc.也将于美股盘后公布财报。3月9日 周四关键词：中国CPI、美国当周初请失业金、美联储褐皮书、京东财报周四，经济数据方面，投资者可关注美国当周初请失业金人数，自今年1月初以来，初请失业金人数便一直低于20万人，这在一定程度体现了美国就业市场依然强劲。对于美联储来说，在寻求控制通货膨胀的同时，也在寻找劳动力市场降温的迹象，这也说明美联储可能不喜欢初请失业金数据发出的信号。强劲的就业数据无疑将加大美联储加息的可能，目前利率期货市场已正式定价美联储利率峰值将升至5.5%。另外，中国通胀数据也将于今日公布。同时，投资者可关注中国金融数据，该系列数据将于每月9日-15日不定时发布。财经事件方面，美联储将公布经济状况褐皮书，投资者可以从中对美国经济有更深的了解，因此也需引起重视。财报方面，京东集团-SW、京东物流将公布财报，此外甲骨文在美股盘后也将公布财报。对于京东财报，市场在期待京东管理层对“百亿补贴”大战的观点。大摩认为，京东推出的100亿元补贴计划以及2023年的利润率或为下一个股价催化剂。该行认为，市场已高估与100亿元补贴有关的增量费用。该行认为，管理层对利润率的利好举措或推动股价上行。该行维持“增持”评级与74美元目标价。3月10日 周五关键词：美国非农就业人口、美国失业率、中兴通讯/雾芯科技财报周五，经济数据方面，美国将公布2月非农，市场预期增幅回落至20万。 非农就业数据一直是市场关注的焦点，也是美联储停止紧缩的“头号敌人”，1月非农爆炸性的增长幅度以及上周的初请失业金人数意外下滑，都无不揭示着美国劳动力市场依旧坚挺。投资者将通过这些数据来判断美国劳动力市场的坚韧程度以及美联储3月会议的加息幅度到底如何。财报方面，中兴通讯、雾芯科技将发布财报。","news_type":1,"symbols_score_info":{"MGCmain":0.9,"GDX":0.9,"GCmain":0.9,"NQmain":0.9,"SPY":0.9,"MNQmain":0.9,".IXIC":0.9,"09618":0.9,"SImain":0.9,".DJI":0.9,"JD":0.9,"DJX":0.9,"UDOW":0.9}},"isVote":1,"tweetType":1,"viewCount":4898,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":624987125,"gmtCreate":1677027749368,"gmtModify":1677027749368,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/624987125","repostId":"1163512053","repostType":2,"isVote":1,"tweetType":1,"viewCount":4734,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":625775545,"gmtCreate":1676886999088,"gmtModify":1676886999088,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[开心]&nbsp;","listText":"[开心]&nbsp;","text":"[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/625775545","repostId":"1150914566","repostType":2,"repost":{"id":"1150914566","kind":"news","pubTimestamp":1676884353,"share":"https://ttm.financial/m/news/1150914566?lang=en_US&edition=fundamental","pubTime":"2023-02-20 17:12","market":"other","language":"zh","title":"The \"unsolved mystery\" of India's richest man being targeted by short sellers: How exactly did Hindenburg short Adani?","url":"https://stock-news.laohu8.com/highlight/detail?id=1150914566","media":"华尔街见闻","summary":"在新加坡运用了单一股票期货或许是兴登堡做空阿达尼的“谜底”。要想在印度做空一家公司并不容易，而兴登堡几乎没有透露有关其押注规模以及使用的衍生品和参考证券种类的具体信息，这不禁让市场对于其如何能让阿达尼","content":"<p><html><head></head><body><b>The use of single stock futures in Singapore may be the \"answer\" to Hindenburg's short selling of Adani.</b>It is not easy to short a company in India, and Hindenburg has revealed little specifics about the size of his bets and the types of derivatives and reference securities used, leaving the market curious about how he was able to shrink Adani's total market capitalization by more than $100 billion in a week.</p><p>On February 17, media outlets quoted investors familiar with the company's operations as saying,<b>Hindenburg may have used the help of single stock futures and Singapore banks to carry out his short-selling plan.</b>。</p><p>according to<b>Indian securities rules require institutional investors to disclose their short positions in advance, and there are other restrictions and requirements for foreign investors.</b>This makes it difficult for investors to quietly build positions.</p><p>At the same time, Adani Group companies have very little free float in the stock market, which has become another problem for short selling, and India does not allow so-called \"naked short selling,\" where investors can bet that a stock will fall without having to borrow the underlying security first.</p><p>Gabriel Grego, hedge fund manager at Quintessential Capital, said:</p><p>“Last summer, I briefly paid attention to Adani, and a key reason I decided not to investigate further was the difficulty of shorting in India.” (Offshore derivatives trading in Singapore)</p><p>In media interviews, three hedge funds said that investors looking to short Indian companies can use India's main stock index, the Nifty 50, of which Adani Enterprises is one of the largest constituents.</p><p>Analysts believe that Hindenburg's bets should include a significant portion of derivatives trading linked to Indian stocks.</p><p>Short sellers choose to conduct such transactions in Singapore, where they can create a type of transaction called Single Stock Futures (SSF), which is a futures contract based on a single stock. These stock derivatives give investors access to the price movements of the relevant stocks.</p><p>Taking Hindenburg as an example, it can trade using Adani Enterprises' weighting in the Indian index.</p><p>The disadvantage of these instruments is that the market is very liquid, which means that the bets are often relatively small. Short sellers typically use other derivatives such as credit default swaps to increase their bets, but analysts point out that this is not possible in Hindenburg's case because the group is not included in the CDS index.</p><p>Soren Aandahl, chief investment officer of Blue Orca Capital, an activist short investment firm in the United States, said:</p><p>\"Shorting Indian stocks requires trading in overseas markets, which is a complex requirement of the Indian system; you cannot short directly.\" (Looking for partners to help with their investigation.)</p><p>Media analysts believe that Hindenburg tended to cooperate with other short sellers when releasing his short-selling investigation report.<b>Although Hindenburg repeatedly declined to say whether the company was working with other Adani investors in the investigation, the disclaimer in the short-selling report suggested that it might have multiple collaborators.</b>。</p><p>At the same time, why Hindenburg turned his attention to Adani and spent two years conducting in-depth investigations is also a focus of market discussion.</p><p>Media outlets, citing two people familiar with the process, reported that Hindenburg sought the help of an external analyst focused on Indian companies to investigate Adani. The analyst led a team of five Hindenburg employees in the investigation, and the team decided to release a short-selling report on the eve of Adani's plan to sell $2.4 billion in shares last month.</p><p></body></html></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>The \"unsolved mystery\" of India's richest man being targeted by short sellers: How exactly did Hindenburg short Adani?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe \"unsolved mystery\" of India's richest man being targeted by short sellers: How exactly did Hindenburg short Adani?\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\">2023-02-20 17:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>The use of single stock futures in Singapore may be the \"answer\" to Hindenburg's short selling of Adani.</b>It is not easy to short a company in India, and Hindenburg has revealed little specifics about the size of his bets and the types of derivatives and reference securities used, leaving the market curious about how he was able to shrink Adani's total market capitalization by more than $100 billion in a week.</p><p>On February 17, media outlets quoted investors familiar with the company's operations as saying,<b>Hindenburg may have used the help of single stock futures and Singapore banks to carry out his short-selling plan.</b>。</p><p>according to<b>Indian securities rules require institutional investors to disclose their short positions in advance, and there are other restrictions and requirements for foreign investors.</b>This makes it difficult for investors to quietly build positions.</p><p>At the same time, Adani Group companies have very little free float in the stock market, which has become another problem for short selling, and India does not allow so-called \"naked short selling,\" where investors can bet that a stock will fall without having to borrow the underlying security first.</p><p>Gabriel Grego, hedge fund manager at Quintessential Capital, said:</p><p>“Last summer, I briefly paid attention to Adani, and a key reason I decided not to investigate further was the difficulty of shorting in India.” (Offshore derivatives trading in Singapore)</p><p>In media interviews, three hedge funds said that investors looking to short Indian companies can use India's main stock index, the Nifty 50, of which Adani Enterprises is one of the largest constituents.</p><p>Analysts believe that Hindenburg's bets should include a significant portion of derivatives trading linked to Indian stocks.</p><p>Short sellers choose to conduct such transactions in Singapore, where they can create a type of transaction called Single Stock Futures (SSF), which is a futures contract based on a single stock. These stock derivatives give investors access to the price movements of the relevant stocks.</p><p>Taking Hindenburg as an example, it can trade using Adani Enterprises' weighting in the Indian index.</p><p>The disadvantage of these instruments is that the market is very liquid, which means that the bets are often relatively small. Short sellers typically use other derivatives such as credit default swaps to increase their bets, but analysts point out that this is not possible in Hindenburg's case because the group is not included in the CDS index.</p><p>Soren Aandahl, chief investment officer of Blue Orca Capital, an activist short investment firm in the United States, said:</p><p>\"Shorting Indian stocks requires trading in overseas markets, which is a complex requirement of the Indian system; you cannot short directly.\" (Looking for partners to help with their investigation.)</p><p>Media analysts believe that Hindenburg tended to cooperate with other short sellers when releasing his short-selling investigation report.<b>Although Hindenburg repeatedly declined to say whether the company was working with other Adani investors in the investigation, the disclaimer in the short-selling report suggested that it might have multiple collaborators.</b>。</p><p>At the same time, why Hindenburg turned his attention to Adani and spent two years conducting in-depth investigations is also a focus of market discussion.</p><p>Media outlets, citing two people familiar with the process, reported that Hindenburg sought the help of an external analyst focused on Indian companies to investigate Adani. The analyst led a team of five Hindenburg employees in the investigation, and the team decided to release a short-selling report on the eve of Adani's plan to sell $2.4 billion in shares last month.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3682319\">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/80649335d6dae03eb8ec03694c71b6e0","relate_stocks":{},"source_url":"https://wallstreetcn.com/articles/3682319","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150914566","content_text":"在新加坡运用了单一股票期货或许是兴登堡做空阿达尼的“谜底”。要想在印度做空一家公司并不容易，而兴登堡几乎没有透露有关其押注规模以及使用的衍生品和参考证券种类的具体信息，这不禁让市场对于其如何能让阿达尼总市值在一周内缩水超过 1000 亿美元感到好奇。2月17日，媒体援引熟悉该公司运作方式的投资者话称，兴登堡或许运用了单一股票期货和新加坡银行的帮助来开展他的做空计划。根据印度证券规则要求机构投资者提前披露其空头头寸，针对外国投资者还有其他限制和要求，这就使得投资者很难悄悄建仓。与此同时，阿达尼集团的公司在股市上的自由流通量很小，这成为了做空的另一个问题，且印度不允许所谓的“裸卖空”，即投资者无需先借入标的证券就可以押注股票会下跌。Quintessential Capital 的对冲基金经理Gabriel Grego表示：“去年夏天，我曾短暂关注过阿达尼，我决定不进一步调查的重要原因便是在印度做空很困难。 ”新加坡进行的离岸衍生品交易三家对冲基金接受媒体采访时表示，想要做空印度公司的投资者可以使用印度的主要股票指数 Nifty 50，而Adani Enterprises 是其中最大的成分股之一。分析认为，兴登堡的押注中应该包含相当大一部分的以印度股票挂钩的衍生品交易。而去新加坡进行该类交易是卖空者们的选择，在新加坡可以创建一种称为单一股票期货（SSF）的交易，即以单一股票为标的的期货合约。这些股票衍生品使投资者能够接触到相关股票的价格变动。以兴登堡为例，其可以运用 Adani Enterprises 在印度指数中的权重值，进行交易。这类工具的缺点是市场流动性很小，这意味着押注往往相对较小。做空者通常会使用信用违约互换等其他衍生品来增加赌注，但分析指出，这在 兴登堡的案例中是不可能的，因为该集团未出现在 CDS 指数中。美国激进空头投资机构 Blue Orca Capital 的首席投资官Soren Aandahl 表示：“做空印度股票必须在海外市场进行交易，这是印度系统的复杂要求，你无法直接做空。”寻找帮助其调查的伙伴媒体分析认为，兴登堡在发布做空调查报告时，倾向于与其他空头合作。尽管兴登堡一再拒绝透露该公司是否与阿达尼的其他投资者合作进行调查，但做空报告中的免责声明里暗示其可能有多个合作者。与此同时，为何兴登堡会将目光转向阿达尼，且不惜花费两年时间进行深度调查也是市场讨论的焦点。媒体援引两名了解该过程的人士表示，兴登堡曾寻求一位专注于印度公司的外部分析师的帮助来调查阿达尼，这位分析师领导了兴登堡的5名员工组成的团队进行了这项调查，且该团队决定在阿达尼上个月计划出售24亿美元的股票前夕发布做空报告。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4652,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":625703874,"gmtCreate":1676729787600,"gmtModify":1676729787600,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/625703874","repostId":"1117714701","repostType":2,"repost":{"id":"1117714701","kind":"news","weMediaInfo":{"introduction":"华商人物与企业新媒体第一殿堂。","home_visible":1,"media_name":"华商韬略","id":"27","head_image":"https://static.tigerbbs.com/08f34cc62ee54134a6a68fe6538c26f8"},"pubTimestamp":1676637724,"share":"https://ttm.financial/m/news/1117714701?lang=en_US&edition=fundamental","pubTime":"2023-02-17 20:42","market":"hk","language":"zh","title":"Where did the people who took over China's massive internet business go?","url":"https://stock-news.laohu8.com/highlight/detail?id=1117714701","media":"华商韬略","summary":"他，有什么特别的？他的失联，为什么值得特别关注？","content":"<p><html><head></head><body>Author | Huashang Taolue</p><p>Last night, the news of the disappearance of Bao Fan, founder and chairman of China Renaissance Capital, attracted widespread attention and even shocked the financial community, especially the financial sector and the new internet economy.</p><p>What's so special about him? Why does his disappearance deserve special attention?</p><p><img src=\"https://static.tigerbbs.com/20298e6c23a6ba6b725c6619e18480d3\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>On Valentine's Day 2015, big news broke from the Chinese business community: Didi and Kuaidi jointly announced that the two companies would achieve a strategic merger.</p><p>The news shocked the market. Just a few days earlier, the two companies were engaged in a fierce battle. Later disclosures revealed that the two sides had already begun negotiations as early as January of that year, but the process was challenging and the confidentiality work was done well enough.</p><p>The deal was spearheaded by Bao Fan and his China Renaissance Capital.</p><p>According to Bao Fan's recollection, the negotiations between the two sides were full of tension at the beginning. \"I used to be a general in the army, and we fought to the death. Suddenly we sat at the same table, and they were so reluctant to see each other that they didn't even want to meet.\"</p><p>Ultimately, the core negotiations between the two sides lasted a full 13 hours, with Bao Fan constantly mediating during the standoff: \"What is the ultimate goal of fighting this battle now, and what is the pattern we want to form?\"</p><p>\"We need to tell them in a rational way that we can't fight for the sake of fighting... We absolutely can't 'smooth things over.' We try our best to pull both sides towards the middle line, and we need to explain clearly that this middle line is reasonable. We can't let either side suffer.\"</p><p>This is just one of Bao Fan's many success stories.</p><p>Tencent's collaboration with JD.com, Youku's merger with Tudou, 58's merger with Ganji's, Meituan's merger with Dianping, Maoyan's merger with Weiying, Meituan's acquisition of Mobike, and Momo's acquisition of Tantan—Bao Fan was a crucial figure in these major collaborations and transactions, and his subsidiary, China Renaissance Capital, continued to participate in them in the core role and capacity of exclusive financial advisor.</p><p>These high-profile cases are just a small part of Bao Fan and Huaxing's business.</p><p>From the early IPOs of Dangdang, JD.com, Meituan, Weibo, and iQiyi, to the major projects of WuXi AppTec, Beike (Lianjia), Nio, Nanwei Medical, Bloomage Biotechnology, MicroPort Medical, MicroPort Xintong, Bilibili, Pop Mart, and Kuaishou in recent years, Bao Fan and China Renaissance Capital have all played important roles.</p><p>Since 2013, China Renaissance Capital has consistently ranked first among China's investment banks in providing financing and M&A services to China's new economy companies. Bao Fan is therefore hailed as the \"King of Financial Services in China's New Economy\".</p><p>Some say that the big deal in China's new internet economy has been completed by Bao Fan.</p><p>In recent years, with the development of its investment banking and investment businesses, China Renaissance Capital has achieved a winner-take-all situation in the financial services business of the new economy. It not only deeply ties the new economy giants to the very end, but also penetrates the very depths of the industrial chain.</p><p>For example, JD.com. From JD.com's financing and IPO to JD Health, JD Logistics and other core businesses under JD, Huaxing acts as a financial advisor, investor, IPO sponsor and underwriter.</p><p>For example, shells. Huaxing first acquired a 3.8% stake in Beike Co., Ltd. before its IPO through multiple rounds of investment exceeding 3 billion yuan, becoming its fifth largest shareholder. It also served as a financial advisor in its multiple rounds of financing and then as a joint lead underwriter when it went public in the United States. In its early stages alone, Huaxing achieved unrealized profits exceeding 10 billion yuan.</p><p>For example, Kuaishou. Huaxing not only invested in Kuaishou with its new economy fund, but also served as a financial advisor in Kuaishou's financing, and acted as a joint sponsor for Kuaishou's listing in Hong Kong together with Morgan Stanley and Bank of America.</p><p><img src=\"https://static.tigerbbs.com/9c380b1d3fd3ec6a5d40877fc656bbab\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>Bao Fan was born in Shanghai in 1970. His grandfather was a senior executive at Zhejiang Bank before the founding of the People's Republic of China, and his parents were diplomats.</p><p>As a teenager, Bao Fan was taken by his elders to eat Western food and broaden his horizons, while also listening to stories about Shanghai's stock market and the legends of banking tycoons. Although he didn't quite understand, Bao Fan had a vague feeling that the banking profession was mysterious and fun.</p><p>Rebellion is synonymous with the young Bao Fan. Because his parents lived away from home for many years and he boarded at school from a young age, he developed an unrestrained personality. He also had to face school bullying alone, which spurred him to practice mixed martial arts. He not only made fighting the main theme of his life, but also brought along a group of brothers and became the \"boss\" of the school.</p><p>However, none of this deterred his studies, and he was still admitted to Fudan University with excellent grades.</p><p>Soon, most school disputes could be resolved by seeking mediation from Bao Fan. Today, Bao Fan's ability to handle so many entangled interests and sharp conflicts in business mergers and acquisitions may stem from his early experience as a \"boss\".</p><p>At Huaxing, Bao Fan is not addressed as General Manager Bao or Chairman Bao, but as \"Boss\".</p><p><img src=\"https://static.tigerbbs.com/eb5cba80fd3923a8dbeed6b175e23370\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>After graduating from Fudan University and the Norwegian Institute of Management, Bao Fan joined the top investment bank Morgan Stanley in 1993, fulfilling his childhood dream.</p><p>Just a few years after graduating from university, Bao Fan was constantly collaborating with the world's top tycoons, discussing business deals worth billions or even tens of billions of dollars. The excitement and glory this job brought far exceeded the thrill of making money.</p><p>Bao Fan participated in the entire process of Novartis' acquisition, China Unicom and AsiaInfo Technologies' overseas listing. He had only been working for a few years and had already served as a financial advisor for several multinational companies. However, he was restless and began to constantly ask himself questions. Ultimately, he did not like a stable job and needed greater stimulation, such as entrepreneurship.</p><p>In 2000, when managing AsiaInfo's IPO, Bao Fan felt that he got along well with the startup team, so he immediately joined AsiaInfo as its chief strategy officer.</p><p>AsiaInfo can be considered the \"progenitor\" of Chinese internet companies. It undertook all the backbone network projects of China Mobile, China Unicom, and China Telecom, and is known as the \"chief architect of China's internet\". Here, Bao Fan handles management and strategy setting, and gets along well with many high-tech peers.</p><p>As his work progressed, he made another significant discovery: these high-tech companies had grown rapidly in recent years, had great needs for financing and mergers and acquisitions, but were quite unfamiliar with the capital market.</p><p>This caught his eye: Isn't this an entrepreneurial opportunity?!</p><p><img src=\"https://static.tigerbbs.com/2ed7d0bf766821d25024cbbe20e9ae97\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>In 2004, Bao Fan hired a Tsinghua University girl to serve as both an analyst and secretary at the International Club outside Jianguomen, and that's how the two of them opened Huaxing Capital.</p><p>That year, the domestic capital market developed rapidly, and foreign giants such as Credit Suisse, Deutsche Bank, Goldman Sachs, and Merrill Lynch were all trying to find ways to enter the Chinese market.</p><p>How can Huaxing, which is outnumbered and weak, gain a foothold?</p><p>Bao Fan saw an opportunity: China's startups and private economy were rising, with small-scale financing and mergers and acquisitions constantly occurring, but large investment banks basically looked down on these.</p><p>This ultimately led Bao Fan to define an \"investment banking + investment\" model that focuses on the new economy:</p><p>Instead of focusing on scale, we pursue a professional, meticulous, and in-depth approach, targeting the high-tech new economy and acting as both financial advisors and small-scale equity investors.</p><p>Back then, most emerging entrepreneurs were \"confused\" by capital: they could not explain their development direction, financing needs, core competitiveness, recognize their own value, and knew nothing about law, finance, strategy, etc. When raising funds, they either fail to convince investors or become vassals of capital.</p><p>Bao Fan's plan was to leave these troubles to Huaxing.</p><p>If you need to find investors, Huaxing can help you handle it. If you need to negotiate with investors, Huaxing will help you handle it. I don't know how to value it, I don't know how to write a financing agreement, but Huaxing can handle everything, and they can \"leave the things that hurt our feelings to us.\" One-stop solution.</p><p>When he encounters a particularly good company, Bao Fan will symbolically invest in it, working together, losing together, and winning together.</p><p>With the rapid development of the new internet economy, Huaxing quickly got back on track and made a name for itself. In just 2006 and 2007, it completed tens of billions of yuan in private equity financing for companies such as Zhengtu Network, 21st Century Real Estate, Qihoo, and Dangdang, winning titles such as \"Most Active Small and Medium-sized Investment Bank\" and \"Best New Investment Bank of the Year\".</p><p>Later, people referred to this \"small but beautiful\" business model as \"boutique investment banking\".</p><p>Building on this foundation, Bao Fan began to further solidify his investment banking business, expanding into IPO sponsorship and underwriting. Such demand is gradually emerging in the market.</p><p>The investment banking business appears to be highly competitive and fair on the surface, but in reality, hierarchies of contempt created by ethnicity and nationality are ubiquitous.</p><p>In 2010, Dangdang.com successfully went public on the New York Stock Exchange, with its stock price surging 86.94%. However, Li Guoqing, the biggest beneficiary, flew into a rage and engaged in a verbal spat with the \"big movie girl\" on Weibo. The reason is that before the IPO, Dangdang's underwriter, Morgan Stanley, forced him to sell at a discount to the offering price, resulting in Dangdang raising a lot less money, and Li Guoqing became the biggest victim.</p><p>As the financial advisor for this project, Bao Fan realized early on that the financial industry has a strong national character.</p><p>For example, in large investment banks, Chinese people who are proficient in mathematics and hardworking act as grassroots financial \"migrant workers\"; Indians occupy middle management positions; At the highest level, there will always be Jews and Anglo-Saxons. Chinese companies listing overseas may appear glamorous on the surface, but in reality, they suffer from various unfair treatments.</p><p>Dangdang's experience made his feelings even more painful.</p><p>American investors are also prejudiced against Chinese companies. They're too lazy to understand business models and always want you to find analogies: no matter if you're Alibaba, Ctrip, Sina, or Baidu, no matter how powerful you are in China, when listing in the US, you have to find a company that \"benchmarks\" against the US market. Otherwise, American investors won't understand and will suspect that your company is shady.</p><p>This prompted Bao Fan to reflect: how can Chinese people break through and win a place on Wall Street?</p><p>His answer is that we must break the listing monopoly of European and American investment banks.</p><p>Although he was unconvinced, China Renaissance Capital had no chance of winning if it got involved at the time. However, Bao Fan was determined to participate even if it meant losing money.</p><p>This is also a lesson he learned in combat: \"When you are knocked down, you must never back down; you must fight back immediately.\"</p><p>Starting in 2012, Huaxing began to focus its efforts on becoming a true investment bank, and successively obtained securities firm licenses in Hong Kong and the United States. From then on, Chinese companies went public in the United States with the support of their own Chinese investment banks.</p><p>This time, Bao Fan was right again.</p><p>In June 2013, Huaxing, which had just obtained its US brokerage license, completed its first IPO: becoming the only local sub-underwriter for LightInTheBox, the first cross-border e-commerce company to list on the New York Stock Exchange.</p><p>This is the first time a Chinese investment bank has underwritten a US stock IPO.</p><p>Securing this big deal was partly due to Bao Fan's personal connections. He and Guo Quji, chairman of LightInTheBox, have been \"good friends\" for many years: when Guo Quji was the chief strategy officer at Google China, it was Bao Fan who \"encouraged\" him to go into the sea.</p><p>But later, as more and more Chinese companies went to the United States, Huaxing quickly became a dark horse in the market by perfectly keeping pace with the market rhythm and having a first-mover advantage. By 2018, it was the seventh largest underwriter on Wall Street.</p><p><img src=\"https://static.tigerbbs.com/59bf3b8c01164edc1497fc767fc6b48b\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>▲ Bao Fan at the 2018 Top Ten Economic Figures of the Year Awards Ceremony</p><p>Beike, with a market capitalization of over $70 billion that year, was listed on the New York Stock Exchange, with Huaxing serving as the lead underwriter. Wuxin Technology, with a market capitalization of over $40 billion, went public on the New York Stock Exchange, with China Renaissance Capital and Citigroup serving as its underwriters.</p><p>In addition to its success in the US stock market, Huaxing is also making great strides in the Hong Kong market: Meituan is listed in Hong Kong, and Huaxing is the exclusive financial advisor/joint global coordinator; JD.com is listed in Hong Kong, and China Renaissance Capital is the joint global coordinator, joint bookrunner, and joint lead manager. Kuaishou's IPO, with Huaxing as joint sponsor...</p><p>As early as June 30, 2020, China Renaissance had helped clients successfully complete more than 980 transactions, including initial public offerings, mergers and acquisitions, and private equity financings, with a total transaction value of over US$146 billion, making it the largest in China's new economy sector at the time.</p><p><img src=\"https://static.tigerbbs.com/3e628ffa6dbc249571eaaca53c99e6c4\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>The partnership with JD.com is another example of Huaxing Capital's operations.</p><p>As early as 2006, Bao Fan met Liu Qiangdong and believed that he was capable, loyal, and capable of success. However, Huaxing missed out on JD.com's several rounds of financing. Bao Fan is the kind of person who never gives up until he reaches the Yellow River:</p><p>\"I refuse to believe this. We must do something for JD.com.\"</p><p>In 2011, during JD.com's Series C funding round, Liu Qiangdong finally approached Bao Fan, asking for $1 billion. Bao Fan's first impression was: Liu Qiangdong had gone mad. When Shanda went public in the United States in 2009, the amount of funding raised was only about this.</p><p>Bao Fan gritted his teeth and accepted this ultimate move that most people couldn't withstand.</p><p>Just then, Yuri, an old friend of China Renaissance Capital and founder of Russia's Digital Sky Technology (DST), came to China. Bao Fan took this \"Russian tycoon\" to JD.com and spent $500 million in one go.</p><p>Tiger Management and SoftBank immediately followed suit, raising an unprecedented $1.5 billion. Through this pivotal battle in JD.com's history, Bao Fan became deeply integrated with JD.com. Subsequently, China Renaissance became the co-lead underwriter of JD.com's $2.05 billion IPO, setting a record for the largest financing of a Chinese concept stock at the time, and continued until the subsequent healthy listing of JD.com.</p><p>Many companies are willing to partner with Huaxing, which is inseparable from Huaxing's professional capabilities. Since its inception, Bao Fan has prioritized building a top-notch professional team in the company's development, constantly offering high salaries to find and poach talent. As early as 2017, the average salary per employee at Huaxing had already reached 1.2 million RMB.</p><p>The elite team is Huaxing's hallmark. Bao Fan's greater advantage over other industry players is inseparable from his expertise beyond his professional skills:</p><p>“If a company chooses Huaxing, we will use all of Huaxing’s resources to support it, and we will never abandon it even when it is in its most difficult time. Once we make friends, we will go to great lengths and be loyal to each other.”</p><p>Bao Fan said that Huaxing did many projects in its early years, but they didn't even have contracts. They just shook hands and got it done. \"Frankly speaking, what we do, others can do too. Why are people willing to cooperate with us?\"</p><p>He believes that the most important thing is to \"treat each other with sincerity\".</p><p>“Huaxing has been quite active since its founding. That’s just my personality. I’m not short of food. If you want to cooperate, you can cooperate, but you should be happy to cooperate together. Not only should you make a deal, but you should also be friends after the deal. That’s true cooperation.”</p><p>Bao Fan is a financial expert, but his expertise is merely a means and technique. What he truly pursues and upholds is humanity and human relationships.</p><p>He said, \"Favors are like a bank account. When others help you, they are withdrawing money. If you keep withdrawing money, you will eventually run out of money. So you have to help others and keep saving money so that you can have more and more money.\"</p><p>Therefore, he believes that when doing business, \"don't just look at profits; value relationships.\"</p><p>\"First, don't overdo anything. Give in to others if you can. If you can earn 10 yuan, earn 5 yuan and leave 5 yuan for others. Second, be grateful and repay kindness. Help others before they help you, without necessarily expecting anything in return.\"</p><p>“We admit our mistakes in business judgment, but we can learn a lot from them. What I fear most is that people are unreliable and make mistakes in their moral character. The core of investment banking is brand, and one thing can completely ruin you.”</p><p>Huaxing's corporate culture is also full of \"loyalty and righteousness\". When it comes to matters of interest, Bao Fan has always been magnanimous and carefree. Once they become close friends, some people are even willing to \"give\" him money.</p><p>Back then, the merger between Enlight Media and Huayou fell through, and Huaxing's efforts were almost in vain. Bao Fan didn't care about it at all, but Wang Changtian, chairman of Enlight Media, remembered it. Later, when Enlight Media went public, Wang Changtian pulled Bao Fan to invest, which allowed him to earn more than 30 times his initial investment.</p><p>Wang Changtian's assessment of Bao Fan was: \"He is someone you are willing to give money to, and you think it is only right for him to make money.\"</p><p>Bao Fan has genuine pity for many entrepreneurs. He said, \"It's not easy for private entrepreneurs in China. I can particularly understand their predicament of surviving in the cracks. These people are very extraordinary, and I admire and respect them.\"</p><p>This spirit of doing things and being a good person has enabled Huaxing's investment business to grow rapidly in recent years, making it a well-known player in the field of new economy investment.</p><p>As of June 30, 2020, China Renaissance's private equity funds had assets under management of approximately RMB 39 billion, with an average IRR of 33%, and had invested in successful cases such as Meituan, WuXi AppTec, Minglue Data, Lianjia, Focus Media, Nanwei Medical, Bloomage Biotech, MicroPort Medical, MicroPort Xintong, Pop Mart, Kuaishou, and Didi.</p><p>On September 10, 2020, Huaxing's \"Huaxing New Economy Fund\" also announced that it had completed its third round of US dollar fund fundraising, with a total fundraising amount exceeding US$600 million. After the completion of this fundraising, its single investment amount could reach US$50 million.</p><p>In 2016, Bao Fan also took a roundabout approach, leveraging the cooperation clauses on the financial industry in the Mainland-Hong Kong Economic and Trade Cooperation Agreement to break through the mainland's control over private securities. With Hong Kong capital, he established Huajing Securities in Shanghai, possessing four licenses: securities brokerage, securities investment consulting, securities underwriting and sponsorship, and securities asset management, thus entering the mainland securities business.</p><p>Under the new round of reforms in the mainland securities industry, China Renaissance Capital has also begun to make great strides in its development in the mainland.</p><p>In June 2020, Huajing Securities added two new businesses: proprietary securities trading and distribution of financial products, becoming a fully licensed securities firm. In December 2020, Huajing Securities officially changed its name to \"Huaxing Securities\". In the 2020 classification evaluation, Huaxing Securities was upgraded two levels, from BB in the previous year to A.</p><p>Since 2020, China's economy has increasingly exhibited two prominent characteristics, or rather, it has increasingly been driven and guided by two major trends. One is new economic development supported by technological innovation; Another issue is the reform and development of the capital market, which focuses on promoting the development of the new economy. The Science and Technology Innovation Board, the registration system, and the comprehensive registration system have propelled China's capital market into a new era.</p><p>This is also considered the core engine for China's economic transformation and upgrading.</p><p>On one hand, there are already high barriers to entry for new economy investment and overseas investment banks; on the other hand, there are fully licensed securities firms in the mainland capital market. China Renaissance Capital, which has been deeply rooted in the three core value points of new economy financial services, has caught a good time and made ample preparations.</p><p>Over the years, in addition to hands-on practice, Bao Fan has been a proponent of China's new economy, saying, \"China's future must be the future of the new economy, and the new economy is the only direction worth gambling on in the future.\"</p><p><img src=\"https://static.tigerbbs.com/7a6231d4cfff6006bbc54bf9488788ac\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>On the evening of February 16, 2023, Caixin reported that Bao Fan was suspected of being missing.</p><p>Shortly thereafter, China Renaissance Capital Holdings announced on the Hong Kong Stock Exchange: \"The Board of Directors has learned that the Company is temporarily unable to contact Bao Fan (Chairman of the Board, Executive Director, CEO and Controlling Shareholder of the Company).\"</p><p><img src=\"https://static.tigerbbs.com/6cbdafd5f77e3ffa41a2d7701faf7d3c\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>The news shocked the industry.</p><p>Because this will affect the future and destiny of many people, and may even become a bellwether event for the new economy.</p><p>First, China Renaissance Capital Holdings will inevitably be significantly affected, or even severely damaged.</p><p>In 2018, Bao Fan, who helped many entrepreneurs go public, also listed China Renaissance Capital in Hong Kong as \"China Renaissance Capital Holdings\" (01911), but its stock price performance after the listing can only be described as deeply disappointing.</p><p>On its listing day, China Renaissance fell sharply below its issue price of HK$31.8, closing at HK$22.5. Since then, its share price has continued to decline, reaching a low of HK$5.82 in September 2022, less than one-fifth of the issue price.</p><p>Even though Bao Fan increased his holdings multiple times, it was to no avail. Some investors who once had high hopes for it couldn't help but leave comments of hatred and disgust on stock forums: fraudulent stocks, specializing in harvesting the secondary market, garbage, incredibly cheap, and hopelessly hopeless...</p><p>As of February 15, 2023, its share price remained below HK$10.</p><p>The weak stock price reflects the real challenges China Renaissance is facing, including but not limited to: challenges to the company's team and management, changes in the overall economic environment, and investors' lack of confidence in things outside of China Renaissance's business.</p><p>Regarding the team and management, a former employee of Huaxing once said that Huaxing has not yet broken free from its reliance on Bao Fan's outstanding personal abilities. Huaxing still lacks strength in talent competition and often has to follow international banks in finding people.</p><p>In terms of the overall economic environment, the development of the new economy, which is mainly based on the Internet, has entered a period of turmoil in recent years. From the perspective of investment and investment banking, it has even entered a period of sharp recession. Meanwhile, developments such as artificial intelligence are still under investment, which has caused Huaxing, which is mainly based on the new economy, to encounter the problem of an industry downturn.</p><p>Regarding investor confidence, what is puzzling about China Renaissance is that it frequently stages \"super\" share buybacks: on the day of listing, the company spent HK$4,010 to repurchase 200 shares for a repurchase price of HK$20.05; Since then, China Renaissance Capital has solemnly announced repurchase agreements no less than five times, with the repurchase amount being:</p><p>100 shares.</p><p>According to the company's information disclosure, Bao Fan currently holds 48.81% of Huaxing's shares. He is not only the founder, the largest shareholder, but also the most important business pioneer. If something goes wrong with him, the potential impact on Huaxing is evident.</p><p>What is even more worrying is that in September 2022, Cong Lin, president of China Renaissance Capital and former chairman and CEO of ICBC International, was taken away by relevant authorities, and his involvement may include his business dealings with China Renaissance Capital during his tenure at ICBC International.</p><p>According to public information, Cong Lin served as Chairman and CEO of ICBC International Holdings Limited in 2016 and approved a $200 million loan for China Renaissance Capital in 2017. In July 2020, after China Renaissance Capital Holdings went public, Cong Lin was invited to serve as the president of China Renaissance Capital Holdings Group and the chairman of China Renaissance Securities (Hong Kong), with an annual salary of tens of millions of yuan.</p><p>This morning (17th), China Renaissance Capital Holdings announced that Bao Fan had gone missing. The stock market opened sharply lower in Hong Kong, with a closing drop of 28.2%.</p><p><img src=\"https://static.tigerbbs.com/3701bcd91c712ac1411484a88c893b8a\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>In 2022, Bao Fan said in an exclusive interview with Tencent's \"Deep Web\" that at the turning point of the times, many things are unclear, but we still have to keep looking. Investing is about finding certainty amidst uncertainty.</p><p>The incident involving Bao Fan, one of the key figures in the new economy, will bring uncertainty beyond China Renaissance Capital itself.</p><p>The new internet economy has been a hotbed for wealth creation for the past decade or so, and is considered the most sunny hotbed for wealth creation. When the truth behind certain companies and things is revealed, the entire industry will undoubtedly be affected.</p><p></body></html></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>Where did the people who took over China's massive internet business go?</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\">\nWhere did the people who took over China's massive internet business go?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/27\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/08f34cc62ee54134a6a68fe6538c26f8);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华商韬略 </p>\n<p class=\"h-time smaller\">2023-02-17 20:42</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author | Huashang Taolue</p><p>Last night, the news of the disappearance of Bao Fan, founder and chairman of China Renaissance Capital, attracted widespread attention and even shocked the financial community, especially the financial sector and the new internet economy.</p><p>What's so special about him? Why does his disappearance deserve special attention?</p><p><img src=\"https://static.tigerbbs.com/20298e6c23a6ba6b725c6619e18480d3\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>On Valentine's Day 2015, big news broke from the Chinese business community: Didi and Kuaidi jointly announced that the two companies would achieve a strategic merger.</p><p>The news shocked the market. Just a few days earlier, the two companies were engaged in a fierce battle. Later disclosures revealed that the two sides had already begun negotiations as early as January of that year, but the process was challenging and the confidentiality work was done well enough.</p><p>The deal was spearheaded by Bao Fan and his China Renaissance Capital.</p><p>According to Bao Fan's recollection, the negotiations between the two sides were full of tension at the beginning. \"I used to be a general in the army, and we fought to the death. Suddenly we sat at the same table, and they were so reluctant to see each other that they didn't even want to meet.\"</p><p>Ultimately, the core negotiations between the two sides lasted a full 13 hours, with Bao Fan constantly mediating during the standoff: \"What is the ultimate goal of fighting this battle now, and what is the pattern we want to form?\"</p><p>\"We need to tell them in a rational way that we can't fight for the sake of fighting... We absolutely can't 'smooth things over.' We try our best to pull both sides towards the middle line, and we need to explain clearly that this middle line is reasonable. We can't let either side suffer.\"</p><p>This is just one of Bao Fan's many success stories.</p><p>Tencent's collaboration with JD.com, Youku's merger with Tudou, 58's merger with Ganji's, Meituan's merger with Dianping, Maoyan's merger with Weiying, Meituan's acquisition of Mobike, and Momo's acquisition of Tantan—Bao Fan was a crucial figure in these major collaborations and transactions, and his subsidiary, China Renaissance Capital, continued to participate in them in the core role and capacity of exclusive financial advisor.</p><p>These high-profile cases are just a small part of Bao Fan and Huaxing's business.</p><p>From the early IPOs of Dangdang, JD.com, Meituan, Weibo, and iQiyi, to the major projects of WuXi AppTec, Beike (Lianjia), Nio, Nanwei Medical, Bloomage Biotechnology, MicroPort Medical, MicroPort Xintong, Bilibili, Pop Mart, and Kuaishou in recent years, Bao Fan and China Renaissance Capital have all played important roles.</p><p>Since 2013, China Renaissance Capital has consistently ranked first among China's investment banks in providing financing and M&A services to China's new economy companies. Bao Fan is therefore hailed as the \"King of Financial Services in China's New Economy\".</p><p>Some say that the big deal in China's new internet economy has been completed by Bao Fan.</p><p>In recent years, with the development of its investment banking and investment businesses, China Renaissance Capital has achieved a winner-take-all situation in the financial services business of the new economy. It not only deeply ties the new economy giants to the very end, but also penetrates the very depths of the industrial chain.</p><p>For example, JD.com. From JD.com's financing and IPO to JD Health, JD Logistics and other core businesses under JD, Huaxing acts as a financial advisor, investor, IPO sponsor and underwriter.</p><p>For example, shells. Huaxing first acquired a 3.8% stake in Beike Co., Ltd. before its IPO through multiple rounds of investment exceeding 3 billion yuan, becoming its fifth largest shareholder. It also served as a financial advisor in its multiple rounds of financing and then as a joint lead underwriter when it went public in the United States. In its early stages alone, Huaxing achieved unrealized profits exceeding 10 billion yuan.</p><p>For example, Kuaishou. Huaxing not only invested in Kuaishou with its new economy fund, but also served as a financial advisor in Kuaishou's financing, and acted as a joint sponsor for Kuaishou's listing in Hong Kong together with Morgan Stanley and Bank of America.</p><p><img src=\"https://static.tigerbbs.com/9c380b1d3fd3ec6a5d40877fc656bbab\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>Bao Fan was born in Shanghai in 1970. His grandfather was a senior executive at Zhejiang Bank before the founding of the People's Republic of China, and his parents were diplomats.</p><p>As a teenager, Bao Fan was taken by his elders to eat Western food and broaden his horizons, while also listening to stories about Shanghai's stock market and the legends of banking tycoons. Although he didn't quite understand, Bao Fan had a vague feeling that the banking profession was mysterious and fun.</p><p>Rebellion is synonymous with the young Bao Fan. Because his parents lived away from home for many years and he boarded at school from a young age, he developed an unrestrained personality. He also had to face school bullying alone, which spurred him to practice mixed martial arts. He not only made fighting the main theme of his life, but also brought along a group of brothers and became the \"boss\" of the school.</p><p>However, none of this deterred his studies, and he was still admitted to Fudan University with excellent grades.</p><p>Soon, most school disputes could be resolved by seeking mediation from Bao Fan. Today, Bao Fan's ability to handle so many entangled interests and sharp conflicts in business mergers and acquisitions may stem from his early experience as a \"boss\".</p><p>At Huaxing, Bao Fan is not addressed as General Manager Bao or Chairman Bao, but as \"Boss\".</p><p><img src=\"https://static.tigerbbs.com/eb5cba80fd3923a8dbeed6b175e23370\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>After graduating from Fudan University and the Norwegian Institute of Management, Bao Fan joined the top investment bank Morgan Stanley in 1993, fulfilling his childhood dream.</p><p>Just a few years after graduating from university, Bao Fan was constantly collaborating with the world's top tycoons, discussing business deals worth billions or even tens of billions of dollars. The excitement and glory this job brought far exceeded the thrill of making money.</p><p>Bao Fan participated in the entire process of Novartis' acquisition, China Unicom and AsiaInfo Technologies' overseas listing. He had only been working for a few years and had already served as a financial advisor for several multinational companies. However, he was restless and began to constantly ask himself questions. Ultimately, he did not like a stable job and needed greater stimulation, such as entrepreneurship.</p><p>In 2000, when managing AsiaInfo's IPO, Bao Fan felt that he got along well with the startup team, so he immediately joined AsiaInfo as its chief strategy officer.</p><p>AsiaInfo can be considered the \"progenitor\" of Chinese internet companies. It undertook all the backbone network projects of China Mobile, China Unicom, and China Telecom, and is known as the \"chief architect of China's internet\". Here, Bao Fan handles management and strategy setting, and gets along well with many high-tech peers.</p><p>As his work progressed, he made another significant discovery: these high-tech companies had grown rapidly in recent years, had great needs for financing and mergers and acquisitions, but were quite unfamiliar with the capital market.</p><p>This caught his eye: Isn't this an entrepreneurial opportunity?!</p><p><img src=\"https://static.tigerbbs.com/2ed7d0bf766821d25024cbbe20e9ae97\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>In 2004, Bao Fan hired a Tsinghua University girl to serve as both an analyst and secretary at the International Club outside Jianguomen, and that's how the two of them opened Huaxing Capital.</p><p>That year, the domestic capital market developed rapidly, and foreign giants such as Credit Suisse, Deutsche Bank, Goldman Sachs, and Merrill Lynch were all trying to find ways to enter the Chinese market.</p><p>How can Huaxing, which is outnumbered and weak, gain a foothold?</p><p>Bao Fan saw an opportunity: China's startups and private economy were rising, with small-scale financing and mergers and acquisitions constantly occurring, but large investment banks basically looked down on these.</p><p>This ultimately led Bao Fan to define an \"investment banking + investment\" model that focuses on the new economy:</p><p>Instead of focusing on scale, we pursue a professional, meticulous, and in-depth approach, targeting the high-tech new economy and acting as both financial advisors and small-scale equity investors.</p><p>Back then, most emerging entrepreneurs were \"confused\" by capital: they could not explain their development direction, financing needs, core competitiveness, recognize their own value, and knew nothing about law, finance, strategy, etc. When raising funds, they either fail to convince investors or become vassals of capital.</p><p>Bao Fan's plan was to leave these troubles to Huaxing.</p><p>If you need to find investors, Huaxing can help you handle it. If you need to negotiate with investors, Huaxing will help you handle it. I don't know how to value it, I don't know how to write a financing agreement, but Huaxing can handle everything, and they can \"leave the things that hurt our feelings to us.\" One-stop solution.</p><p>When he encounters a particularly good company, Bao Fan will symbolically invest in it, working together, losing together, and winning together.</p><p>With the rapid development of the new internet economy, Huaxing quickly got back on track and made a name for itself. In just 2006 and 2007, it completed tens of billions of yuan in private equity financing for companies such as Zhengtu Network, 21st Century Real Estate, Qihoo, and Dangdang, winning titles such as \"Most Active Small and Medium-sized Investment Bank\" and \"Best New Investment Bank of the Year\".</p><p>Later, people referred to this \"small but beautiful\" business model as \"boutique investment banking\".</p><p>Building on this foundation, Bao Fan began to further solidify his investment banking business, expanding into IPO sponsorship and underwriting. Such demand is gradually emerging in the market.</p><p>The investment banking business appears to be highly competitive and fair on the surface, but in reality, hierarchies of contempt created by ethnicity and nationality are ubiquitous.</p><p>In 2010, Dangdang.com successfully went public on the New York Stock Exchange, with its stock price surging 86.94%. However, Li Guoqing, the biggest beneficiary, flew into a rage and engaged in a verbal spat with the \"big movie girl\" on Weibo. The reason is that before the IPO, Dangdang's underwriter, Morgan Stanley, forced him to sell at a discount to the offering price, resulting in Dangdang raising a lot less money, and Li Guoqing became the biggest victim.</p><p>As the financial advisor for this project, Bao Fan realized early on that the financial industry has a strong national character.</p><p>For example, in large investment banks, Chinese people who are proficient in mathematics and hardworking act as grassroots financial \"migrant workers\"; Indians occupy middle management positions; At the highest level, there will always be Jews and Anglo-Saxons. Chinese companies listing overseas may appear glamorous on the surface, but in reality, they suffer from various unfair treatments.</p><p>Dangdang's experience made his feelings even more painful.</p><p>American investors are also prejudiced against Chinese companies. They're too lazy to understand business models and always want you to find analogies: no matter if you're Alibaba, Ctrip, Sina, or Baidu, no matter how powerful you are in China, when listing in the US, you have to find a company that \"benchmarks\" against the US market. Otherwise, American investors won't understand and will suspect that your company is shady.</p><p>This prompted Bao Fan to reflect: how can Chinese people break through and win a place on Wall Street?</p><p>His answer is that we must break the listing monopoly of European and American investment banks.</p><p>Although he was unconvinced, China Renaissance Capital had no chance of winning if it got involved at the time. However, Bao Fan was determined to participate even if it meant losing money.</p><p>This is also a lesson he learned in combat: \"When you are knocked down, you must never back down; you must fight back immediately.\"</p><p>Starting in 2012, Huaxing began to focus its efforts on becoming a true investment bank, and successively obtained securities firm licenses in Hong Kong and the United States. From then on, Chinese companies went public in the United States with the support of their own Chinese investment banks.</p><p>This time, Bao Fan was right again.</p><p>In June 2013, Huaxing, which had just obtained its US brokerage license, completed its first IPO: becoming the only local sub-underwriter for LightInTheBox, the first cross-border e-commerce company to list on the New York Stock Exchange.</p><p>This is the first time a Chinese investment bank has underwritten a US stock IPO.</p><p>Securing this big deal was partly due to Bao Fan's personal connections. He and Guo Quji, chairman of LightInTheBox, have been \"good friends\" for many years: when Guo Quji was the chief strategy officer at Google China, it was Bao Fan who \"encouraged\" him to go into the sea.</p><p>But later, as more and more Chinese companies went to the United States, Huaxing quickly became a dark horse in the market by perfectly keeping pace with the market rhythm and having a first-mover advantage. By 2018, it was the seventh largest underwriter on Wall Street.</p><p><img src=\"https://static.tigerbbs.com/59bf3b8c01164edc1497fc767fc6b48b\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>▲ Bao Fan at the 2018 Top Ten Economic Figures of the Year Awards Ceremony</p><p>Beike, with a market capitalization of over $70 billion that year, was listed on the New York Stock Exchange, with Huaxing serving as the lead underwriter. Wuxin Technology, with a market capitalization of over $40 billion, went public on the New York Stock Exchange, with China Renaissance Capital and Citigroup serving as its underwriters.</p><p>In addition to its success in the US stock market, Huaxing is also making great strides in the Hong Kong market: Meituan is listed in Hong Kong, and Huaxing is the exclusive financial advisor/joint global coordinator; JD.com is listed in Hong Kong, and China Renaissance Capital is the joint global coordinator, joint bookrunner, and joint lead manager. Kuaishou's IPO, with Huaxing as joint sponsor...</p><p>As early as June 30, 2020, China Renaissance had helped clients successfully complete more than 980 transactions, including initial public offerings, mergers and acquisitions, and private equity financings, with a total transaction value of over US$146 billion, making it the largest in China's new economy sector at the time.</p><p><img src=\"https://static.tigerbbs.com/3e628ffa6dbc249571eaaca53c99e6c4\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>The partnership with JD.com is another example of Huaxing Capital's operations.</p><p>As early as 2006, Bao Fan met Liu Qiangdong and believed that he was capable, loyal, and capable of success. However, Huaxing missed out on JD.com's several rounds of financing. Bao Fan is the kind of person who never gives up until he reaches the Yellow River:</p><p>\"I refuse to believe this. We must do something for JD.com.\"</p><p>In 2011, during JD.com's Series C funding round, Liu Qiangdong finally approached Bao Fan, asking for $1 billion. Bao Fan's first impression was: Liu Qiangdong had gone mad. When Shanda went public in the United States in 2009, the amount of funding raised was only about this.</p><p>Bao Fan gritted his teeth and accepted this ultimate move that most people couldn't withstand.</p><p>Just then, Yuri, an old friend of China Renaissance Capital and founder of Russia's Digital Sky Technology (DST), came to China. Bao Fan took this \"Russian tycoon\" to JD.com and spent $500 million in one go.</p><p>Tiger Management and SoftBank immediately followed suit, raising an unprecedented $1.5 billion. Through this pivotal battle in JD.com's history, Bao Fan became deeply integrated with JD.com. Subsequently, China Renaissance became the co-lead underwriter of JD.com's $2.05 billion IPO, setting a record for the largest financing of a Chinese concept stock at the time, and continued until the subsequent healthy listing of JD.com.</p><p>Many companies are willing to partner with Huaxing, which is inseparable from Huaxing's professional capabilities. Since its inception, Bao Fan has prioritized building a top-notch professional team in the company's development, constantly offering high salaries to find and poach talent. As early as 2017, the average salary per employee at Huaxing had already reached 1.2 million RMB.</p><p>The elite team is Huaxing's hallmark. Bao Fan's greater advantage over other industry players is inseparable from his expertise beyond his professional skills:</p><p>“If a company chooses Huaxing, we will use all of Huaxing’s resources to support it, and we will never abandon it even when it is in its most difficult time. Once we make friends, we will go to great lengths and be loyal to each other.”</p><p>Bao Fan said that Huaxing did many projects in its early years, but they didn't even have contracts. They just shook hands and got it done. \"Frankly speaking, what we do, others can do too. Why are people willing to cooperate with us?\"</p><p>He believes that the most important thing is to \"treat each other with sincerity\".</p><p>“Huaxing has been quite active since its founding. That’s just my personality. I’m not short of food. If you want to cooperate, you can cooperate, but you should be happy to cooperate together. Not only should you make a deal, but you should also be friends after the deal. That’s true cooperation.”</p><p>Bao Fan is a financial expert, but his expertise is merely a means and technique. What he truly pursues and upholds is humanity and human relationships.</p><p>He said, \"Favors are like a bank account. When others help you, they are withdrawing money. If you keep withdrawing money, you will eventually run out of money. So you have to help others and keep saving money so that you can have more and more money.\"</p><p>Therefore, he believes that when doing business, \"don't just look at profits; value relationships.\"</p><p>\"First, don't overdo anything. Give in to others if you can. If you can earn 10 yuan, earn 5 yuan and leave 5 yuan for others. Second, be grateful and repay kindness. Help others before they help you, without necessarily expecting anything in return.\"</p><p>“We admit our mistakes in business judgment, but we can learn a lot from them. What I fear most is that people are unreliable and make mistakes in their moral character. The core of investment banking is brand, and one thing can completely ruin you.”</p><p>Huaxing's corporate culture is also full of \"loyalty and righteousness\". When it comes to matters of interest, Bao Fan has always been magnanimous and carefree. Once they become close friends, some people are even willing to \"give\" him money.</p><p>Back then, the merger between Enlight Media and Huayou fell through, and Huaxing's efforts were almost in vain. Bao Fan didn't care about it at all, but Wang Changtian, chairman of Enlight Media, remembered it. Later, when Enlight Media went public, Wang Changtian pulled Bao Fan to invest, which allowed him to earn more than 30 times his initial investment.</p><p>Wang Changtian's assessment of Bao Fan was: \"He is someone you are willing to give money to, and you think it is only right for him to make money.\"</p><p>Bao Fan has genuine pity for many entrepreneurs. He said, \"It's not easy for private entrepreneurs in China. I can particularly understand their predicament of surviving in the cracks. These people are very extraordinary, and I admire and respect them.\"</p><p>This spirit of doing things and being a good person has enabled Huaxing's investment business to grow rapidly in recent years, making it a well-known player in the field of new economy investment.</p><p>As of June 30, 2020, China Renaissance's private equity funds had assets under management of approximately RMB 39 billion, with an average IRR of 33%, and had invested in successful cases such as Meituan, WuXi AppTec, Minglue Data, Lianjia, Focus Media, Nanwei Medical, Bloomage Biotech, MicroPort Medical, MicroPort Xintong, Pop Mart, Kuaishou, and Didi.</p><p>On September 10, 2020, Huaxing's \"Huaxing New Economy Fund\" also announced that it had completed its third round of US dollar fund fundraising, with a total fundraising amount exceeding US$600 million. After the completion of this fundraising, its single investment amount could reach US$50 million.</p><p>In 2016, Bao Fan also took a roundabout approach, leveraging the cooperation clauses on the financial industry in the Mainland-Hong Kong Economic and Trade Cooperation Agreement to break through the mainland's control over private securities. With Hong Kong capital, he established Huajing Securities in Shanghai, possessing four licenses: securities brokerage, securities investment consulting, securities underwriting and sponsorship, and securities asset management, thus entering the mainland securities business.</p><p>Under the new round of reforms in the mainland securities industry, China Renaissance Capital has also begun to make great strides in its development in the mainland.</p><p>In June 2020, Huajing Securities added two new businesses: proprietary securities trading and distribution of financial products, becoming a fully licensed securities firm. In December 2020, Huajing Securities officially changed its name to \"Huaxing Securities\". In the 2020 classification evaluation, Huaxing Securities was upgraded two levels, from BB in the previous year to A.</p><p>Since 2020, China's economy has increasingly exhibited two prominent characteristics, or rather, it has increasingly been driven and guided by two major trends. One is new economic development supported by technological innovation; Another issue is the reform and development of the capital market, which focuses on promoting the development of the new economy. The Science and Technology Innovation Board, the registration system, and the comprehensive registration system have propelled China's capital market into a new era.</p><p>This is also considered the core engine for China's economic transformation and upgrading.</p><p>On one hand, there are already high barriers to entry for new economy investment and overseas investment banks; on the other hand, there are fully licensed securities firms in the mainland capital market. China Renaissance Capital, which has been deeply rooted in the three core value points of new economy financial services, has caught a good time and made ample preparations.</p><p>Over the years, in addition to hands-on practice, Bao Fan has been a proponent of China's new economy, saying, \"China's future must be the future of the new economy, and the new economy is the only direction worth gambling on in the future.\"</p><p><img src=\"https://static.tigerbbs.com/7a6231d4cfff6006bbc54bf9488788ac\" tg-width=\"550\" tg-height=\"110\" referrerpolicy=\"no-referrer\"/></p><p>On the evening of February 16, 2023, Caixin reported that Bao Fan was suspected of being missing.</p><p>Shortly thereafter, China Renaissance Capital Holdings announced on the Hong Kong Stock Exchange: \"The Board of Directors has learned that the Company is temporarily unable to contact Bao Fan (Chairman of the Board, Executive Director, CEO and Controlling Shareholder of the Company).\"</p><p><img src=\"https://static.tigerbbs.com/6cbdafd5f77e3ffa41a2d7701faf7d3c\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/></p><p>The news shocked the industry.</p><p>Because this will affect the future and destiny of many people, and may even become a bellwether event for the new economy.</p><p>First, China Renaissance Capital Holdings will inevitably be significantly affected, or even severely damaged.</p><p>In 2018, Bao Fan, who helped many entrepreneurs go public, also listed China Renaissance Capital in Hong Kong as \"China Renaissance Capital Holdings\" (01911), but its stock price performance after the listing can only be described as deeply disappointing.</p><p>On its listing day, China Renaissance fell sharply below its issue price of HK$31.8, closing at HK$22.5. Since then, its share price has continued to decline, reaching a low of HK$5.82 in September 2022, less than one-fifth of the issue price.</p><p>Even though Bao Fan increased his holdings multiple times, it was to no avail. Some investors who once had high hopes for it couldn't help but leave comments of hatred and disgust on stock forums: fraudulent stocks, specializing in harvesting the secondary market, garbage, incredibly cheap, and hopelessly hopeless...</p><p>As of February 15, 2023, its share price remained below HK$10.</p><p>The weak stock price reflects the real challenges China Renaissance is facing, including but not limited to: challenges to the company's team and management, changes in the overall economic environment, and investors' lack of confidence in things outside of China Renaissance's business.</p><p>Regarding the team and management, a former employee of Huaxing once said that Huaxing has not yet broken free from its reliance on Bao Fan's outstanding personal abilities. Huaxing still lacks strength in talent competition and often has to follow international banks in finding people.</p><p>In terms of the overall economic environment, the development of the new economy, which is mainly based on the Internet, has entered a period of turmoil in recent years. From the perspective of investment and investment banking, it has even entered a period of sharp recession. Meanwhile, developments such as artificial intelligence are still under investment, which has caused Huaxing, which is mainly based on the new economy, to encounter the problem of an industry downturn.</p><p>Regarding investor confidence, what is puzzling about China Renaissance is that it frequently stages \"super\" share buybacks: on the day of listing, the company spent HK$4,010 to repurchase 200 shares for a repurchase price of HK$20.05; Since then, China Renaissance Capital has solemnly announced repurchase agreements no less than five times, with the repurchase amount being:</p><p>100 shares.</p><p>According to the company's information disclosure, Bao Fan currently holds 48.81% of Huaxing's shares. He is not only the founder, the largest shareholder, but also the most important business pioneer. If something goes wrong with him, the potential impact on Huaxing is evident.</p><p>What is even more worrying is that in September 2022, Cong Lin, president of China Renaissance Capital and former chairman and CEO of ICBC International, was taken away by relevant authorities, and his involvement may include his business dealings with China Renaissance Capital during his tenure at ICBC International.</p><p>According to public information, Cong Lin served as Chairman and CEO of ICBC International Holdings Limited in 2016 and approved a $200 million loan for China Renaissance Capital in 2017. In July 2020, after China Renaissance Capital Holdings went public, Cong Lin was invited to serve as the president of China Renaissance Capital Holdings Group and the chairman of China Renaissance Securities (Hong Kong), with an annual salary of tens of millions of yuan.</p><p>This morning (17th), China Renaissance Capital Holdings announced that Bao Fan had gone missing. The stock market opened sharply lower in Hong Kong, with a closing drop of 28.2%.</p><p><img src=\"https://static.tigerbbs.com/3701bcd91c712ac1411484a88c893b8a\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>In 2022, Bao Fan said in an exclusive interview with Tencent's \"Deep Web\" that at the turning point of the times, many things are unclear, but we still have to keep looking. Investing is about finding certainty amidst uncertainty.</p><p>The incident involving Bao Fan, one of the key figures in the new economy, will bring uncertainty beyond China Renaissance Capital itself.</p><p>The new internet economy has been a hotbed for wealth creation for the past decade or so, and is considered the most sunny hotbed for wealth creation. When the truth behind certain companies and things is revealed, the entire industry will undoubtedly be affected.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9211839191cf55d29dbe0ea606ea36f8","relate_stocks":{"01911":"华兴资本控股"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117714701","content_text":"作 者丨华商韬略昨日晚间，华兴资本创始人、董事长包凡失联的消息，在财经界，尤其是金融界与互联网新经济领域引起广泛关注，甚至是强烈震动。他，有什么特别的？他的失联，为什么值得特别关注？2015年情人节，中国商界传出大消息：滴滴与快的共同宣布，两家企业将实现战略合并。消息一出，市场震惊。此前几天，两家公司还在殊死博弈。日后披露信息显示，早在当年1月，双方就已开始了谈判，只不过过程充满挑战，且保密工作做得足够好。主导这场交易的正是包凡，和他的华兴资本。据包凡回忆，双方的谈判一开始充满火药味，“以前将过军，你死我活的，突然坐到同一张桌子上，他们排斥到见面都不想见。”最终，双方的核心谈判进行了整整13个小时，包凡则在对峙中不断调停：“现在打这一仗，最终目的是什么，想要形成的格局是什么？”“得用理性的方式告诉他们，不能为了打仗而打仗……绝不能‘和稀泥‘，我们尽量把双方往中线上拉，而且我们要解释清楚，这条中线是合理的。不能让任何一方受委屈。”这只是包凡众多成功案例中的一个。腾讯与京东合作、优酷与土豆合并、58与赶集合并，美团与大众点评合并、猫眼和微影合并、美团收购摩拜、陌陌收购探探，这些大合作、大交易中，包凡都是至关重要的人，他旗下的华兴资本则以独家财务顾问的核心角色和身份，持续参与其中。这些轰动江湖的大案子，只是包凡和华兴业务的一小部分。从早年的当当、京东、美团、微博、爱奇艺上市，到最近几年的药明康德、贝壳（链家）、蔚来、南微医学、华熙生物、心脉医疗、微创心通、哔哩哔哩、泡泡玛特、快手大项目……包凡和华兴资本都扮演了重要角色。2013年至今，在为中国新经济公司运作的融资并购服务中，华兴资本一直位列中国投行第一。包凡也因此被誉为：中国新经济领域的金融服务之王。也有人说，中国互联网新经济的大买卖，被包凡包圆了。这些年，伴随其投行、投资业务的发展，华兴资本在新经济的金融服务生意里赢家通吃。既深度捆绑新经济巨头一家吃到底，也从产业链纵深一竿子插到底。比如京东。华兴从京东融资、上市一直吃到京东健康，京东物流等京东旗下核心事业体，而且在其中既当财务顾问，也做投资，还当上市保荐人与承销商。比如贝壳。华兴先是以超过30亿的多轮投资，累计持有贝壳股份至IPO前的3.8%，成为其第五大股东，并在其多轮融资担任财务顾问，然后又在其赴美国上市之际担任了联席主承销商。仅是早期的投资，华兴就账面浮盈超过百亿之巨。比如快手。华兴既以旗下的新经济基金参投了快手，也在快手的融资中担当财务顾问，并与摩根士丹利、美银一起做了快手在港上市的联席保荐人。1970年，包凡在上海出生。他的祖父是新中国成立前的浙江银行高管，父母则是外交官。十几岁的包凡，就被长辈们带着吃西餐、开眼界，顺便旁听上海昔日股市风云和银行大亨传奇。虽然听不太懂，但包凡已经隐约感觉到，银行家这个职业很神秘、很好玩。叛逆是少年包凡的代名词。由于父母长年在外，自小在校寄宿，他养成了无拘无束的性格，又要独自面对校园霸凌，这刺激他狂练综合格斗，不但把打架斗殴过成了生活主旋律，还拉上一帮兄弟，当上了校园“老大”。不过，这些都没能耽误他的学习，他依然以优异成绩考入复旦大学。很快，学校里的纠纷只要找包凡调停，大都能化干戈为玉帛。如今，包凡能将那么多利益纠缠、矛盾尖锐的商业并购一一搞定，或许正是源于他早年“当老大”的经验。在华兴，包凡的称呼不是包总、包董，而是：老大。先后在复旦和挪威管理学院毕业后，包凡于1993年入职顶级投行摩根士丹利，圆了儿时的梦想。大学毕业没几年，就成天跟全世界最顶尖的大佬合作，谈的都是几十亿乃至上百亿美元的生意，这份工作带给包凡的兴奋与荣耀，远超赚钱的快感。诺华制药并购，中国联通、亚信科技海外上市，包凡都全程参与。参加工作没几年，他已担任多家跨国企业的财务顾问，但不安分的他却开始不断自我设问，自己终究还是不喜欢稳定的工作，他需要更大的刺激，比如创业。2000年，运作亚信上市时，包凡觉得自己与这个创业团队很投脾气，他随即加盟亚信，担任首席战略官。亚信堪称中国互联网公司的“鼻祖”，移动、联通、电信等骨干网络工程全由其承建，有“中国互联网的总建筑师”之称。在这里，包凡搞管理、定战略，跟不少高科技同行打得火热。随着工作深入，他又有了重大发现：这些高科技企业近年来飞速成长，融资、并购需求极大，却对资本市场相当陌生。这让他眼前一亮：这不就是创业机会吗？！2004年，包凡在建国门外的国际俱乐部，招了个清华女生兼任分析师和秘书，两个人的华兴资本，就这样开了张。这一年，国内资本市场加速发展，瑞士信贷、德意志银行、高盛、美林证券等国外巨头都在想方设法切入中国市场。势单力薄的华兴，如何才能有一席之地？包凡看到了一个机会：中国创业企业、民营经济正在崛起，小融资、小并购不断，但大投行对这些基本看不上。这让包凡最终明确出一个锁定新经济的“投行+投资”模式：不走规模路线，而是走专业精细和深耕路线，锁定高科技新经济，既做财务顾问，又做小规模参股投资。当年，新兴创业者在资本面前大都“蒙圈”：既说不清发展方向、融资需求、核心竞争力，也认不清自身价值，对法律、财务、战略等更是一无所知。融资时，要么说服不了投资人，要么在资本面前沦为附庸。包凡的算盘是，这些麻烦，交给华兴就好。要找投资人，华兴帮忙搞定；要跟投资人谈判，华兴帮忙搞定；不知道该怎么估值，不知道融资协议怎么写，华兴统统能搞定，而且可以“伤感情的事，留我们来做”；一条龙全套解决。遇到特别好的企业，包凡还会象征性跟投，一起做，一起输，一起赢。借助互联网新经济的快速发展，华兴很快走上正轨，打响招牌。仅是06、07两年，它就一口气为征途网络、21世纪不动产、奇虎、当当网等企业完成上百亿私募融资，一举斩获“最活跃中小型投行”、“年度最佳新型投行”等桂冠。日后，人们将这种“小而美”的商业模式称为“精品投行”。在此基础上，包凡开始进一步把投行做实，将业务拓展到上市保荐与承销。市场，也逐渐爆发出这样的需求。投行这门生意，表面看竞争激烈、公平合理，实际上，民族、国别造就的鄙视链无处不在。2010年，当当网在纽交所成功上市，暴涨86.94%，但作为最大受益者的李国庆却大发雷霆，与“大摩女”在微博展开对骂。原因是，上市前，当当的承销商摩根士丹利强制要求他对发行价打折贱卖，当当少募了很多钱，李国庆成为了最大受害者。作为这一项目的财务顾问方，包凡早年就体会到，金融业具有强烈的民族性。比如，在大投行，数学精湛、工作勤奋的华人，充当着底层金融“民工”；印度人占据着中层管理职位；最高层，则永远是犹太人和盎格鲁-撒克逊人。中国公司海外上市，表面风光无限，实则遭受着各种不公平待遇。当当的遭遇，让他这种体会变得更加痛彻。美国投资人对中国企业也充满偏见。他们懒得理解商业模式，总希望你找出类比对象：不管你是阿里、携程还是新浪、百度，甭管你在中国多牛，在美国上市就统统要找到与美国市场“对标”的公司，否则，美国投资人就看不懂，就怀疑你公司有猫腻。这让包凡开始了反思：中国人要如何突破，在华尔街去赢得一席之地？他的答案是，一定要打破欧美投行的上市垄断权。虽然不服气，但当时的华兴资本参与进去并无胜算，可包凡还是下定决心：即便陪跑赔钱，也要参与。这也是他在格斗中悟出来的道理：“被打倒时，你绝不能退缩，必须马上打回去。”从2012年开始，华兴开始集中精力成为真正的投行，先后拿到中国香港、美国的券商牌照。从此——中国企业赴美上市，有了中国人自己的投资银行护航。这一次，包凡再次押对了。2013年6月，刚刚拿到美国券商牌照的华兴，就完成了IPO第一股：成为跨境电商第一股兰亭集势在纽交所上市的唯一的本土副承销商。这是第一次由中国投行承销美股IPO。拿下这笔大单，多少是因为包凡的个人关系。他与兰亭集势董事长郭去疾是多年的“好友”：当年，郭去疾在谷歌中国当首席战略官时，就是包凡“鼓动”他下的海。但后来，当越来越多中国企业赴美，华兴则是靠着完美踏准市场节奏以及先发优势，快速成为了市场的一匹黑马，到2018年时，它已是华尔街第七大承销商。▲包凡在2018十大经济年度人物颁奖典礼现场当年市值超过700亿美元的贝壳在纽交所上市，华兴担任主承销商；市值超过400亿美金雾芯科技在纽交所上市，华兴资本与花旗一起成为其承销商。除了在美股市场旗开得胜，华兴在香港市场同样高歌猛进：美团在港上市，华兴是独家财务顾问/联席全球协调人；京东在港上市，华兴资本是联席全球协调人、联席账簿管理人及联席牵头经办人；快手上市，华兴是联席保荐人……早在2020年6月30日，华兴已帮助客户成功完成包括首次公开募股、并购和私募融资等超过980宗交易，交易总额逾1460亿美元，规模上，成为当时中国新经济领域的第一。与京东合作，是华兴资本运作的又一典范。早在2006年，包凡就结识了刘强东，认定他能力强、讲义气、会成事。但京东的数轮融资，华兴都失之交臂。包凡是那种不到黄河心不死的人：“我就不信这邪，我们一定要为京东做点啥。”2011年，京东C轮融资，刘强东终于找到包凡，开口要10亿美元。包凡第一感觉是：刘强东疯了。2009年盛大赴美上市，融资额也不过如此。这种一般人接不住的大招，包凡咬牙接了。正好，华兴资本的老朋友、俄罗斯数字天空技术（DST）创始人尤里来到中国，包凡带着这位“俄罗斯土豪”逛京东，一砸就是5亿美元。老虎基金、软银马上跟风凑了破天荒的15亿美元。凭借这场京东史上关键之战，包凡自此与京东深度捆绑。此后，华兴从京东20.5亿美元IPO的联席主承销商，创出当时中概股最大规模融资纪录，一直做到后面的京东健康上市。众多企业都愿意和华兴捆绑，离不开华兴的专业能力。从创立开始，包凡就将构建顶尖专业团队放在公司发展首位，不断开出高薪找人，挖人。早在2017年，华兴的人均薪酬就已高达120万人民币。精英团队是华兴的特色招牌。而区别于其他业者的更大优势，离不开包凡在专业之外的功夫：“如果一个企业选择了华兴，我们会启用华兴所有的资源去支持他，在他最困难的时候，我们也会不离不弃。咱们交上朋友了，那就两肋插刀、肝胆相照。”包凡说，华兴早年做了很多项目，连合同都没有，握个手搞定了，“坦率讲我们干的事别人也能干，为什么大家愿意跟我们合作？”他认为，最重要的就是“肝胆相照”。“华兴从创立第一天起就比较DIAO，我的性格就是这样，我也不差这口饭吃，你愿意合作就合作，但在一起合作要开心，不仅做成买卖，做完买卖大家还是朋友，这才是真正的合作。”包凡是一个金融专家，但专业只是手段和技术，他真正追求和死守的，还是人性与人情。他说：“人情这东西就像银行账户，别人帮你是在取钱，总是取钱，总有一天钱会取光，所以你要帮别人，不断存钱，钱才能越来越多。”因此他认为，做生意，“不要只看利益，要重感情。”“第一，什么事情都别做太满，能让别人就让别人。你能赚10块钱，你就赚5块，留5块钱给别人。第二，要知恩图报，别人没帮你之前你就先帮别人，不一定指望回报。”“商业上的判断失误我们认了，能吸取很多经验教训。我最怕的就是人不靠谱，犯道德品质上的错误，投资银行买卖的核心就是品牌，一件事就能让你彻底完蛋。”华兴的企业文化中，也充满着“江湖义气”。在利益问题上，包凡向来大气不计较，一旦跟包凡有了深交，有人甚至愿意“送”钱给他。当年光线与华友的并购案落空，华兴几乎白忙一场，包凡对此毫不在意，光线传媒董事长王长田却记住了这事。后来光线传媒上市，王长田拉着包凡入股，让他最高赚到30多倍。王长田对包凡的评价则是：“他是一个你愿意给他钱的人，你觉得他挣钱是应该的。”对于很多企业家，包凡有发自内心的怜惜。他说：“中国的民营企业家很不容易。我特别能够理解他们夹缝中求生存的困境。这些人很不简单，我很佩服、尊重他们。”这些做事做人精神，让华兴的投资业务近年来快速成长，成为新经济投资领域的著名一极。截至2020年6月30日，华兴旗下的私募股权投资基金资产管理规模达约人民币390亿元，平均IRR达33%，并投出了美团、药明康德、明略数据、链家、分众传媒、南微医学、华熙生物、心脉医疗、微创心通、泡泡玛特、快手、滴滴等成功案例。2020年9月10日，华兴旗下“华兴新经济基金”还宣布，已完成第三期美元基金募资，总募资额超6亿美元，完成此次募资后，其单笔投资金额可达5000万美元。2016年，包凡还“曲线救国”，借助内地与香港经贸合作协定中关于金融业的合作条款，突破内地对民营证券的管制，以港资背景在上海成立了华菁证券，拥有证券经纪、证券投资咨询、证券承销与保荐、证券资产管理四张牌照，踏入内地证券业务。内地证券业新一轮改革之下，华兴资本在内地的发展也开始大步前进。2020年6月，华菁证券新增了证券自营、代销金融产品两项业务，成为全牌照券商。2020年12月，华菁证券正式更名为“华兴证券”。在2020年的分类评价中，华兴证券还连升两级，从上年的BB类升至A类。从2020年开始，中国经济越来越呈现出两大显著特征，或者说越来越靠两大趋势推动和引领。一个是以科技创新为支持的新经济发展；另一个是以推动新经济发展为核心的资本市场变革与发展，科创板、注册制、全面注册制推动中国资本市场走入崭新的时代。这也被认为是中国经济转型升级的核心引擎。一手是已经壁垒高筑的新经济投资与海外投行，一手是在内地资本市场的全牌照券商，在新经济金融服务三大核心价值点深耕的华兴资本，可谓赶上了好时候，也做足了准备。这些年，除了躬身实践，包凡更是中国新经济的鼓吹者，“中国的未来一定是新经济的未来，新经济是未来唯一值得赌的方向”。2023年2月16日晚，《财新》传出包凡疑似失联的消息。此后不久，华兴资本控股在港交所公告：“董事会得悉本公司暂时无法与包凡（本公司董事会主席、执行董事、首席执行官和控股股东）取得联系。”消息一出，业界震惊。因为，这将关系不少人的前途命运，甚至会成为新经济的一个风向标事件。首先是，华兴资本控股将不可避免的受到重大影响，甚至是遭遇重创。2018年，成就了众多企业家上市之路的包凡，也将华兴资本以“华兴资本控股”（01911）在港上市，但其上市之后的股价表现却只能用令人深感失望来形容。上市当日，华兴就大幅跌破31.8港元的发行价，收盘于22.5港元。此后，其股价更一路持续走低，最低至2022年9月的5.82港元，不足发行价的1/5。即便包凡多次增持，也无济于事。曾经对其寄予厚望的一些投资者，因此忍不住在股吧留言憎恨与厌恶：老千股、专门收割二级市场，垃圾、贱得可以，烂泥扶不上墙……截至2023年2月15日，其股价依然在10港元的下方。股价的疲弱，反应了华兴资本正在面临的实际挑战，它包括但不限于：公司团队与管理的挑战，以及整个经济大环境的变迁，以及投资人对华兴资本业务之外的一些事情也缺乏信心。在团队与管理方面，一位华兴前职员就曾表示，到目前，华兴依然没有摆脱对包凡的个人突出能力的依赖，华兴在人才竞争上还缺少力量，常常只能跟在国际大行后面找人。在经济大环境方面，最近几年互联网为主的新经济发展进入动荡，从投资与投行角度而言，甚至是大幅衰退期，而人工智能等发展尚在投入之中，这也让以新经济为主的华兴遇到行业低谷的问题。投资人信心方面，华兴资本让人匪夷所思的是，动不动就上演“超级”回购的戏码：上市当日，公司花4010港元回购200股，回购价为20.05港元；此后不低于5次，华兴资本都曾郑重其事地公告回购，回购数额都是：100股。根据公司信息披露，目前，包凡还持有华兴48.81%股份。既是创始人，还是最大股东，更是最重要的大业务先锋，如果他出事，华兴可能受到的影响也可见一斑。更让人担心的是，2022年9月，华兴资本总裁、工银国际前董事长兼行政总裁丛林已被有关部门带走，而其涉及之事，或许就包括任职工银国际时与华兴资本的业务往来。根据公开消息，丛林2016年任工银国际控股有限公司董事长兼行政总裁，2017年曾为华兴资本批下一笔2亿美元的贷款。2020年7月，华兴资本控股上市后，丛林应邀出任了华兴资本控股集团总裁兼任华兴证券（香港）董事长，而其年薪则高达千万级。今日（17日）上午，公告了包凡失联的华兴资本控股，在港股市场开盘大跌，截至收盘跌幅达28.2%。2022年，包凡曾经在接受腾讯《深网》的专访中说，在时代的转折点上，很多事情看不清楚，但还是要继续去看。投资就是在不确定中找确定。作为新经济重要旗手之一的包凡出事，所带来的不确定性，也会超出华兴资本本身。互联网新经济是过去10多年的造富热土，并且被认为是最阳光的一片造富热土。当某些公司，某些事情阳光背后的东西被显现出来，整个行业无疑都会受到影响。","news_type":1,"symbols_score_info":{"01911":0.9}},"isVote":1,"tweetType":1,"viewCount":4719,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":625289077,"gmtCreate":1676508887201,"gmtModify":1676508887201,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/625289077","repostId":"1124094165","repostType":2,"repost":{"id":"1124094165","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":1676505305,"share":"https://ttm.financial/m/news/1124094165?lang=en_US&edition=fundamental","pubTime":"2023-02-16 07:55","market":"us","language":"zh","title":"Last night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.","url":"https://stock-news.laohu8.com/highlight/detail?id=1124094165","media":"老虎资讯综合","summary":"摘要：①无惧加息预期升温，隔夜美股三大股指收高，纳指涨近1%；②查理·芒格盛赞比亚迪：在中国市场让特斯拉相形见绌；③马斯克锐评人工智能：危险程度超过核技术。海外行情1、无惧加息预期升温美股三大股指收高","content":"<p><html><head></head><body>Abstract: ① Despite rising rate hike expectations, the three major U.S. stock indexes closed higher overnight, with the Nasdaq rising nearly 1%; ② Charlie Munger praised<a href=\"https://laohu8.com/S/002594\">BYD</a>In the Chinese market<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Pale in comparison; ③ Musk sharply criticized artificial intelligence: it is more dangerous than nuclear technology.<img src=\"https://static.tigerbbs.com/4bc45bac28ddf4f047f204e5e8c5f645\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>Overseas Market</p><p>1. Despite rising rate hike expectations, the three major US stock indexes closed higher, with the Nasdaq rising nearly 1%.</p><p>U.S. stocks closed higher on Wednesday, with the Nasdaq recording its third consecutive trading day of gains. U.S. retail sales rose 3% month-on-month in January, exceeding expectations and marking the largest increase since March 2021. This sends a clear signal that the economy is overheating and may indicate stubborn high inflation, increasing market expectations that the Federal Reserve may rate hike to higher levels for a longer period. At the close of trading, the Nasdaq index rose 0.92%; The Dow Jones Industrial Average rose 0.11%; The S&P 500 rose 0.28%.</p><p>Most large technology stocks rose.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Up 1.39%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>It rose 1.46%, while Meta fell 1.29%.<a href=\"https://laohu8.com/S/GOOG\">Google</a>Up 2.39%<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Down 0.80%, Netflix up 0.41%.<a href=\"https://laohu8.com/S/TSM\">TSMC</a>It fell 5.31%. WSB concept stocks and video game stocks led the gains, with Roblox rising over 26%.<a href=\"https://laohu8.com/S/GME\">Game Station</a>Up more than 9%,<a href=\"https://laohu8.com/S/HOOD\">Robinhood</a>It rose by more than 5%. Vaccine stocks and gold stocks saw the largest declines.<a href=\"https://laohu8.com/S/HL\">Hekla Mining</a>It fell more than 9%.<a href=\"https://laohu8.com/S/GORO\">gold resources</a>It fell more than 6%.<a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It fell by more than 3%.</p><p>A century-old bank—<a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>The stock price suddenly collapsed, with the stock plummeting as much as 11% in pre-market trading before closing down 8.41%. The company suddenly experienced two major shocks: First, according to sources, the UK's financial regulator is investigating...<a href=\"https://laohu8.com/S/BARC.UK\">Barclays Bank</a>An investigation was conducted to suspect that its compliance and anti-money laundering systems were persistently ineffective; Secondly, on February 15, Barclays announced its 2022 financial results. Financial reports show that Barclays' pre-tax profit in 2022 fell 14% year-on-year, far below market expectations.</p><p>2. Popular Chinese concept stocks showed mixed performance; the Nasdaq China Golden Dragon Index rose 0.30%.</p><p>Popular Chinese concept stocks were mixed, with the Nasdaq China Golden Dragon Index rising 0.30%.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell 1.09%.<a href=\"https://laohu8.com/S/JD\">JD.com</a>It fell 0.17%.<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell 1.49%.<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Up 0.80%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up 1.99%<a href=\"https://laohu8.com/S/NTES\">NetEase</a>It fell 0.45%.</p><p>3. Major European stock indices generally closed higher, with Germany's DAX 30 up 0.82%.</p><p>Major European stock indices closed higher on Wednesday, with Germany's DAX 30 up 0.82%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.55%, the French CAC40 rose 1.21%, and the European Stoxx 50 rose 0.97%.</p><p>4. Last week, EIA oil inventories surged by over 16 million barrels. Oil prices fell for two consecutive days, but the decline narrowed significantly at the close.</p><p>Oil prices fell for two consecutive days due to the prospect of central banks in Europe and the United States rate hike to higher levels for a longer period, as well as rising inventories, but improved demand and supply constraints provided some price support.</p><p>WTI crude oil futures for March delivery closed down $0.47, or 0.59%, at $78.59 a barrel. The intraday low was as low as $1.78, or 2.3%, and the daily low was near $77. U.S. stocks narrowed their losses significantly after midday. Brent crude oil futures for April delivery closed down $0.20, or 0.23%, at $85.38 a barrel. They fell as much as $1.67, or 2%, during the session, briefly falling below $84 before rebounding after midday.</p><p>5. New York gold futures fell 1.1% on Wednesday, hitting their lowest closing price in five weeks.</p><p>Gold futures for April delivery on the New York Mercantile Exchange fell $20.10, or 1.1%, to settle at $1,845.30 an ounce, the lowest closing price for the most active contract since January 5. A stronger dollar has put pressure on gold prices.</p><p>Macro News</p><p>1. Charlie Munger praises BYD: It dwarfs Tesla in the Chinese market.</p><p>On Wednesday (February 15) local time, Warren Buffett's long-time business partner,<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Vice Chairman Charlie Munger said it was unbelievable that BYD had dwarfed Tesla in the Chinese market.</p><p>The 99-year-old Munger praised BYD as his favorite stock to date, stating frankly that in his years working at Berkshire Hathaway, he had never made a transaction that could compare to investing in BYD.</p><p>2. US January retail sales data crushed expectations, with month-on-month growth reaching a new high since March 2021.</p><p>At 9:30 p.m. Beijing time on Wednesday, the U.S. Commerce Department's Census Bureau released January retail sales data. Similar to the surprising January non-farm payrolls data, U.S. retail sales surged 3% month-on-month in January, far exceeding market expectations of 1.8% and reaching a new high since March 2021.</p><p>3. The Federal Reserve's second-in-command is about to become vacant; the White House is considering appointing a newly appointed Chicago Fed president to succeed him.</p><p>According to media reports citing sources, the White House is considering nominating Chicago Fed President Goolsby, who took office last month, to serve as Vice Chairman of the Federal Reserve Board of Governors.</p><p>U.S. President Joe Biden announced on Tuesday that he will appoint current Federal Reserve Vice Chairman Lyle Brainard to the position of director of the White House National Economic Council (NEC). This means that with Brainard leaving the Federal Reserve next week, the position of Federal Reserve Vice Chairman will be vacant.</p><p>4. Musk sharply criticizes artificial intelligence: It is more dangerous than nuclear technology.</p><p>On Wednesday (February 15) local time, Elon Musk said at the 2023 World Government Summit in Dubai, UAE, that ChatGPT has confirmed that artificial intelligence (AI) has made incredible progress, but this has become something that humanity should be worried about.</p><p>In his video address, Musk emphasized that artificial intelligence is one of the greatest risks to the future of human civilization. He added, \"It has both positive and negative aspects; it has great prospects and great capabilities, but the dangers that come with it are also enormous.\"</p><p>Musk pointed out that the safety of artificial intelligence should now be monitored and managed, even if it slows down the development of the technology. He added that artificial intelligence actually poses a greater risk to society than cars, airplanes, or pharmaceuticals. \"Take nuclear technology as an example. We have nuclear energy, but we also have nuclear bombs.\"</p><p>5. IEA Monthly Report: China's economic recovery boosts global oil demand; supply shortages may occur in the second half of the year.</p><p>The International Energy Agency (IEA) raised its global oil demand forecast for this year on Wednesday, which is expected to significantly boost oil demand after China optimized its epidemic prevention policies. Meanwhile, the IEA predicts that there will be a supply shortage in the second half of this year.</p><p>In its monthly report, the IEA noted that global oil demand will surge to a record 101.9 million barrels per day this year, almost entirely due to strong demand in Asia, a forecast 200,000 barrels per day higher than the IEA's data last month.</p><p>Russia-Ukraine situation</p><p>1. Russian Foreign Minister: Will request the UN to investigate the damage to the Nord Stream pipeline.</p><p>On Wednesday (February 15) local time, Russian Foreign Minister Sergey Lavrov said that the West lied to Russia about the damage to the Nord Stream gas pipeline and concealed the truth about the damage.</p><p>Lavrov claimed that Russia is preparing to convene a special meeting of the UN Security Council and will request the UN to investigate the incident. Lavrov added that Russia disagrees with the claim that the United Nations has no authority to investigate the damage to the Nord Stream pipeline.</p><p>2. Uphold the tradition of neutrality? Swiss government: Confiscation of frozen Russian assets is illegal</p><p>On Wednesday (February 15) local time, the Swiss government stated that the confiscation of frozen Russian assets was unconstitutional and unlawful.</p><p>In a statement, the Swiss government said that a working group led by the Swiss Federal Office of Justice concluded that confiscating Russian private property would undermine the federal constitution and the existing legal order. The Swiss government stated that its support for Ukraine will continue regardless of the outcome.</p><p>3. Swedish Prime Minister Christensen stated that he will provide a batch of weapons to Ukraine.</p><p>According to Ukrainian media reports, on the 15th local time, Ukrainian President Zelenskyy and Prime Minister Shmegal met separately with visiting Swedish Prime Minister Christensen in Kyiv. The talks between the two sides mainly focused on bilateral military and energy cooperation. At a press conference following his talks with Zelensky, Kristersson stated that Sweden will provide Ukraine with 51 infantry fighting vehicles, one Archer self-propelled howitzer, and several anti-aircraft weapons. In addition, the possibility that Sweden will provide Gripen fighter jets to Ukraine cannot be ruled out, but only if the relevant countries reach an agreement.</p><p>Company News</p><p>1. The U.S. Department of Justice reportedly intensified its antitrust investigation into Apple.</p><p>According to media reports citing sources, the U.S. Department of Justice has intensified its efforts in drafting an antitrust lawsuit against Apple in recent months.</p><p>Sources familiar with the matter said the investigation into whether Apple possessed the monopoly power it abused began in 2019, but law enforcement has intensified its efforts in recent months, with more litigation lawyers now assigned to the case and requesting documents and advice from the companies involved. The investigation partly involves Apple's policies on managing mobile third-party software on its devices, and is also reportedly investigating whether Apple's iOS operates in an anti-competitive manner and whether it favors its own products.</p><p>2. Credit Suisse continues to reduce business risks and will no longer engage in non-performing loan business.</p><p>According to media reports citing sources, Credit Suisse Group will no longer engage in non-performing loan and special circumstances transactions in accordance with its plan to exit high-risk and capital-intensive businesses.</p><p>Sources familiar with the matter revealed that the bank will sell assets, including bonds and loans related to troubled companies, with a market value of approximately $250 million. After the portfolio was put up for sale last December, buyers will make their final offers this week. Credit Suisse has just launched a costly restructuring that includes cutting 9,000 jobs and bringing a large part of its investment banking business under the First Boston brand.</p><p>As part of its restructuring plan, Credit Suisse has established a \"non-core department\" under which the assets it plans to liquidate are listed because these assets are not related to its main wealth management business and are not in line with its investment banking strategy.</p><p>3. Apple has obtained a foldable screen technology patent and may be the first to launch a foldable iPad in 2024.</p><p>On Tuesday (February 14) local time, the U.S. Patent and Trademark Office (USPTO) website showed that Apple had obtained a blockbuster patent, igniting market expectations for the company to launch a foldable device.</p><p>The documents show that Apple showcased a foldable device in the patent, with a screen that almost wraps around the entire body. The device is equipped with multiple touch sensors, even at the edges of the device. The patent document shows that this will allow users to touch different parts of the device to achieve corresponding functions. For example, users can control the camera by tapping the side of the device, which Apple calls a \"virtual shutter button\"; Users can also swipe their fingers up and down the sides to control the device volume.</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>Analysts wrote in their latest report that the patent indicates the possibility of foldable devices, but not this year. Market research firm CCSInsight predicted last year that Apple would be the first to launch a foldable iPad in 2024.</p><p>4、<a href=\"https://laohu8.com/S/BA\">boeing</a>February 737 deliveries are expected to decline to the low end of the 20-30 aircraft range.</p><p>Boeing's CFO stated that 737 deliveries are expected to decline to the low end of the 20-30 aircraft range in February. By later 2023, Boeing will increase production of 737 aircraft to 38 per month; We maintain our forecast of 400-450 737 aircraft delivered this year; Supply chains remain unstable and unpredictable.</p><p>5. Ford has extended the production halt for the F-150 electric pickup truck until at least next weekend.</p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>On Wednesday, it announced that production of the F-150 Lightning electric pickup truck will be suspended until at least next weekend due to an investigation into battery issues.</p><p>Ford says it believes it has identified the root cause and expects to complete the investigation by next weekend, which could take several weeks to apply to the pickup truck's battery production process.</p><p>Ford revealed on Tuesday that it has suspended production and shipments of the F-150 Lighting electric pickup truck due to potential battery issues.</p><p></body></html></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>Last night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.</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\">\nLast night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.\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\">2023-02-16 07:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Abstract: ① Despite rising rate hike expectations, the three major U.S. stock indexes closed higher overnight, with the Nasdaq rising nearly 1%; ② Charlie Munger praised<a href=\"https://laohu8.com/S/002594\">BYD</a>In the Chinese market<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Pale in comparison; ③ Musk sharply criticized artificial intelligence: it is more dangerous than nuclear technology.<img src=\"https://static.tigerbbs.com/4bc45bac28ddf4f047f204e5e8c5f645\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>Overseas Market</p><p>1. Despite rising rate hike expectations, the three major US stock indexes closed higher, with the Nasdaq rising nearly 1%.</p><p>U.S. stocks closed higher on Wednesday, with the Nasdaq recording its third consecutive trading day of gains. U.S. retail sales rose 3% month-on-month in January, exceeding expectations and marking the largest increase since March 2021. This sends a clear signal that the economy is overheating and may indicate stubborn high inflation, increasing market expectations that the Federal Reserve may rate hike to higher levels for a longer period. At the close of trading, the Nasdaq index rose 0.92%; The Dow Jones Industrial Average rose 0.11%; The S&P 500 rose 0.28%.</p><p>Most large technology stocks rose.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Up 1.39%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>It rose 1.46%, while Meta fell 1.29%.<a href=\"https://laohu8.com/S/GOOG\">Google</a>Up 2.39%<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Down 0.80%, Netflix up 0.41%.<a href=\"https://laohu8.com/S/TSM\">TSMC</a>It fell 5.31%. WSB concept stocks and video game stocks led the gains, with Roblox rising over 26%.<a href=\"https://laohu8.com/S/GME\">Game Station</a>Up more than 9%,<a href=\"https://laohu8.com/S/HOOD\">Robinhood</a>It rose by more than 5%. Vaccine stocks and gold stocks saw the largest declines.<a href=\"https://laohu8.com/S/HL\">Hekla Mining</a>It fell more than 9%.<a href=\"https://laohu8.com/S/GORO\">gold resources</a>It fell more than 6%.<a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It fell by more than 3%.</p><p>A century-old bank—<a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>The stock price suddenly collapsed, with the stock plummeting as much as 11% in pre-market trading before closing down 8.41%. The company suddenly experienced two major shocks: First, according to sources, the UK's financial regulator is investigating...<a href=\"https://laohu8.com/S/BARC.UK\">Barclays Bank</a>An investigation was conducted to suspect that its compliance and anti-money laundering systems were persistently ineffective; Secondly, on February 15, Barclays announced its 2022 financial results. Financial reports show that Barclays' pre-tax profit in 2022 fell 14% year-on-year, far below market expectations.</p><p>2. Popular Chinese concept stocks showed mixed performance; the Nasdaq China Golden Dragon Index rose 0.30%.</p><p>Popular Chinese concept stocks were mixed, with the Nasdaq China Golden Dragon Index rising 0.30%.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell 1.09%.<a href=\"https://laohu8.com/S/JD\">JD.com</a>It fell 0.17%.<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell 1.49%.<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Up 0.80%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up 1.99%<a href=\"https://laohu8.com/S/NTES\">NetEase</a>It fell 0.45%.</p><p>3. Major European stock indices generally closed higher, with Germany's DAX 30 up 0.82%.</p><p>Major European stock indices closed higher on Wednesday, with Germany's DAX 30 up 0.82%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.55%, the French CAC40 rose 1.21%, and the European Stoxx 50 rose 0.97%.</p><p>4. Last week, EIA oil inventories surged by over 16 million barrels. Oil prices fell for two consecutive days, but the decline narrowed significantly at the close.</p><p>Oil prices fell for two consecutive days due to the prospect of central banks in Europe and the United States rate hike to higher levels for a longer period, as well as rising inventories, but improved demand and supply constraints provided some price support.</p><p>WTI crude oil futures for March delivery closed down $0.47, or 0.59%, at $78.59 a barrel. The intraday low was as low as $1.78, or 2.3%, and the daily low was near $77. U.S. stocks narrowed their losses significantly after midday. Brent crude oil futures for April delivery closed down $0.20, or 0.23%, at $85.38 a barrel. They fell as much as $1.67, or 2%, during the session, briefly falling below $84 before rebounding after midday.</p><p>5. New York gold futures fell 1.1% on Wednesday, hitting their lowest closing price in five weeks.</p><p>Gold futures for April delivery on the New York Mercantile Exchange fell $20.10, or 1.1%, to settle at $1,845.30 an ounce, the lowest closing price for the most active contract since January 5. A stronger dollar has put pressure on gold prices.</p><p>Macro News</p><p>1. Charlie Munger praises BYD: It dwarfs Tesla in the Chinese market.</p><p>On Wednesday (February 15) local time, Warren Buffett's long-time business partner,<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Vice Chairman Charlie Munger said it was unbelievable that BYD had dwarfed Tesla in the Chinese market.</p><p>The 99-year-old Munger praised BYD as his favorite stock to date, stating frankly that in his years working at Berkshire Hathaway, he had never made a transaction that could compare to investing in BYD.</p><p>2. US January retail sales data crushed expectations, with month-on-month growth reaching a new high since March 2021.</p><p>At 9:30 p.m. Beijing time on Wednesday, the U.S. Commerce Department's Census Bureau released January retail sales data. Similar to the surprising January non-farm payrolls data, U.S. retail sales surged 3% month-on-month in January, far exceeding market expectations of 1.8% and reaching a new high since March 2021.</p><p>3. The Federal Reserve's second-in-command is about to become vacant; the White House is considering appointing a newly appointed Chicago Fed president to succeed him.</p><p>According to media reports citing sources, the White House is considering nominating Chicago Fed President Goolsby, who took office last month, to serve as Vice Chairman of the Federal Reserve Board of Governors.</p><p>U.S. President Joe Biden announced on Tuesday that he will appoint current Federal Reserve Vice Chairman Lyle Brainard to the position of director of the White House National Economic Council (NEC). This means that with Brainard leaving the Federal Reserve next week, the position of Federal Reserve Vice Chairman will be vacant.</p><p>4. Musk sharply criticizes artificial intelligence: It is more dangerous than nuclear technology.</p><p>On Wednesday (February 15) local time, Elon Musk said at the 2023 World Government Summit in Dubai, UAE, that ChatGPT has confirmed that artificial intelligence (AI) has made incredible progress, but this has become something that humanity should be worried about.</p><p>In his video address, Musk emphasized that artificial intelligence is one of the greatest risks to the future of human civilization. He added, \"It has both positive and negative aspects; it has great prospects and great capabilities, but the dangers that come with it are also enormous.\"</p><p>Musk pointed out that the safety of artificial intelligence should now be monitored and managed, even if it slows down the development of the technology. He added that artificial intelligence actually poses a greater risk to society than cars, airplanes, or pharmaceuticals. \"Take nuclear technology as an example. We have nuclear energy, but we also have nuclear bombs.\"</p><p>5. IEA Monthly Report: China's economic recovery boosts global oil demand; supply shortages may occur in the second half of the year.</p><p>The International Energy Agency (IEA) raised its global oil demand forecast for this year on Wednesday, which is expected to significantly boost oil demand after China optimized its epidemic prevention policies. Meanwhile, the IEA predicts that there will be a supply shortage in the second half of this year.</p><p>In its monthly report, the IEA noted that global oil demand will surge to a record 101.9 million barrels per day this year, almost entirely due to strong demand in Asia, a forecast 200,000 barrels per day higher than the IEA's data last month.</p><p>Russia-Ukraine situation</p><p>1. Russian Foreign Minister: Will request the UN to investigate the damage to the Nord Stream pipeline.</p><p>On Wednesday (February 15) local time, Russian Foreign Minister Sergey Lavrov said that the West lied to Russia about the damage to the Nord Stream gas pipeline and concealed the truth about the damage.</p><p>Lavrov claimed that Russia is preparing to convene a special meeting of the UN Security Council and will request the UN to investigate the incident. Lavrov added that Russia disagrees with the claim that the United Nations has no authority to investigate the damage to the Nord Stream pipeline.</p><p>2. Uphold the tradition of neutrality? Swiss government: Confiscation of frozen Russian assets is illegal</p><p>On Wednesday (February 15) local time, the Swiss government stated that the confiscation of frozen Russian assets was unconstitutional and unlawful.</p><p>In a statement, the Swiss government said that a working group led by the Swiss Federal Office of Justice concluded that confiscating Russian private property would undermine the federal constitution and the existing legal order. The Swiss government stated that its support for Ukraine will continue regardless of the outcome.</p><p>3. Swedish Prime Minister Christensen stated that he will provide a batch of weapons to Ukraine.</p><p>According to Ukrainian media reports, on the 15th local time, Ukrainian President Zelenskyy and Prime Minister Shmegal met separately with visiting Swedish Prime Minister Christensen in Kyiv. The talks between the two sides mainly focused on bilateral military and energy cooperation. At a press conference following his talks with Zelensky, Kristersson stated that Sweden will provide Ukraine with 51 infantry fighting vehicles, one Archer self-propelled howitzer, and several anti-aircraft weapons. In addition, the possibility that Sweden will provide Gripen fighter jets to Ukraine cannot be ruled out, but only if the relevant countries reach an agreement.</p><p>Company News</p><p>1. The U.S. Department of Justice reportedly intensified its antitrust investigation into Apple.</p><p>According to media reports citing sources, the U.S. Department of Justice has intensified its efforts in drafting an antitrust lawsuit against Apple in recent months.</p><p>Sources familiar with the matter said the investigation into whether Apple possessed the monopoly power it abused began in 2019, but law enforcement has intensified its efforts in recent months, with more litigation lawyers now assigned to the case and requesting documents and advice from the companies involved. The investigation partly involves Apple's policies on managing mobile third-party software on its devices, and is also reportedly investigating whether Apple's iOS operates in an anti-competitive manner and whether it favors its own products.</p><p>2. Credit Suisse continues to reduce business risks and will no longer engage in non-performing loan business.</p><p>According to media reports citing sources, Credit Suisse Group will no longer engage in non-performing loan and special circumstances transactions in accordance with its plan to exit high-risk and capital-intensive businesses.</p><p>Sources familiar with the matter revealed that the bank will sell assets, including bonds and loans related to troubled companies, with a market value of approximately $250 million. After the portfolio was put up for sale last December, buyers will make their final offers this week. Credit Suisse has just launched a costly restructuring that includes cutting 9,000 jobs and bringing a large part of its investment banking business under the First Boston brand.</p><p>As part of its restructuring plan, Credit Suisse has established a \"non-core department\" under which the assets it plans to liquidate are listed because these assets are not related to its main wealth management business and are not in line with its investment banking strategy.</p><p>3. Apple has obtained a foldable screen technology patent and may be the first to launch a foldable iPad in 2024.</p><p>On Tuesday (February 14) local time, the U.S. Patent and Trademark Office (USPTO) website showed that Apple had obtained a blockbuster patent, igniting market expectations for the company to launch a foldable device.</p><p>The documents show that Apple showcased a foldable device in the patent, with a screen that almost wraps around the entire body. The device is equipped with multiple touch sensors, even at the edges of the device. The patent document shows that this will allow users to touch different parts of the device to achieve corresponding functions. For example, users can control the camera by tapping the side of the device, which Apple calls a \"virtual shutter button\"; Users can also swipe their fingers up and down the sides to control the device volume.</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>Analysts wrote in their latest report that the patent indicates the possibility of foldable devices, but not this year. Market research firm CCSInsight predicted last year that Apple would be the first to launch a foldable iPad in 2024.</p><p>4、<a href=\"https://laohu8.com/S/BA\">boeing</a>February 737 deliveries are expected to decline to the low end of the 20-30 aircraft range.</p><p>Boeing's CFO stated that 737 deliveries are expected to decline to the low end of the 20-30 aircraft range in February. By later 2023, Boeing will increase production of 737 aircraft to 38 per month; We maintain our forecast of 400-450 737 aircraft delivered this year; Supply chains remain unstable and unpredictable.</p><p>5. Ford has extended the production halt for the F-150 electric pickup truck until at least next weekend.</p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>On Wednesday, it announced that production of the F-150 Lightning electric pickup truck will be suspended until at least next weekend due to an investigation into battery issues.</p><p>Ford says it believes it has identified the root cause and expects to complete the investigation by next weekend, which could take several weeks to apply to the pickup truck's battery production process.</p><p>Ford revealed on Tuesday that it has suspended production and shipments of the F-150 Lighting electric pickup truck due to potential battery issues.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"BK4585":"ETF&股票定投概念",".DJI":"道琼斯","BK4561":"索罗斯持仓","QLD":"2倍做多纳斯达克100指数ETF-ProShares","BK4534":"瑞士信贷持仓","03086":"华夏纳指","PSQ":"做空纳斯达克100指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","BK4581":"高盛持仓",".IXIC":"NASDAQ Composite","QID":"两倍做空纳斯达克指数ETF-ProShares","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF",".SPX":"S&P 500 Index","BK4550":"红杉资本持仓"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124094165","content_text":"摘要：①无惧加息预期升温，隔夜美股三大股指收高，纳指涨近1%；②查理·芒格盛赞比亚迪：在中国市场让特斯拉相形见绌；③马斯克锐评人工智能：危险程度超过核技术。海外行情1、无惧加息预期升温美股三大股指收高纳指涨近1%美股周三收高，纳指录得连续第三个交易日上涨。美国1月零售销售超预期环比增长3%，创2021年3月以来最大增幅，发出明确的经济过热信号，或意味着高通胀顽固，增加了市场对美联储可能在更长时间内加息至更高水平的预期。截至收盘，纳斯达克指数涨幅为0.92%；道琼斯指数涨幅为0.11%；标普500指数涨幅为0.28%。大型科技股多数上涨，苹果涨1.39%，亚马逊涨1.46%，Meta跌1.29%，谷歌涨2.39%，微软跌0.80%，奈飞涨0.41%，台积电跌5.31%。WSB概念股、电游股涨幅居前，Roblox涨超26%，游戏驿站涨超9%，Robinhood涨超5%。疫苗股、黄金股跌幅居前，赫克拉矿业跌超9%，黄金资源跌超6%，礼来跌超3%。百年大行——巴克莱银行股价突然崩盘，美股盘前该股一度狂跌11%，最终收跌8.41%。该公司突然出现两个大雷：一是据知情人士透露，英国金融监督管理机构正在对巴克莱银行进行调查，怀疑其合规和反洗钱系统持续失效；二是2月15日，巴克莱公布了2022年财务业绩。财报显示，巴克莱2022年税前利润同比下降14%，远低市场预期。2、热门中概股涨跌不一 纳斯达克中国金龙指数涨0.30%热门中概股涨跌不一，纳斯达克中国金龙指数涨0.30%，阿里巴巴跌1.09%，京东跌0.17%，拼多多跌1.49%，哔哩哔哩涨0.80%，百度涨1.99%，网易跌0.45%。3、欧股主要指数收盘普涨德国DAX30指数涨0.82%欧股主要指数周三收盘普涨，德国DAX30指数涨0.82%，英国富时100指数涨0.55%，法国CAC40指数涨1.21%，欧洲斯托克50指数涨0.97%。4、上周EIA油储激增超1600万桶油价连跌两日但尾盘跌幅显著收窄欧美央行在更长时间内加息至更高水平的前景，以及库存增加令油价连跌两日，但需求改善和供应限制提供一定价格支撑。WTI 3月原油期货收跌0.47美元，跌幅0.59%，报78.59美元/桶，盘中最深跌1.78美元或跌2.3%，日低下逼77美元，美股午盘后跌幅显著收窄。布伦特4月原油期货收跌0.20美元，跌幅0.23%，报85.38美元/桶，盘中最深跌1.67美元或跌2%，一度失守84美元，午盘后一度转涨。5、纽约黄金期货周三收跌1.1% 创五周来最低收盘价纽约商品交易所4月交割的黄金期货价格下跌20.10美元，跌幅为1.1%，收于每盎司1845.30美元，为1月5日以来最活跃合约的最低收盘价。美元走强令黄金价格承压。宏观新闻1、查理·芒格盛赞比亚迪：在中国市场让特斯拉相形见绌当地时间周三（2月15日），“股神”巴菲特的长期商业伙伴、伯克希尔副董事长查理·芒格表示，比亚迪在中国市场让特斯拉相形见绌，这令人难以置信。现年99岁的芒格盛赞比亚迪是他迄今为止最喜欢的股票，他直言，在伯克希尔工作的这些年，他没有进行过能够比肩投资比亚迪的操作。2、美国1月零售数据碾压预期 环比增速创2021年3月以来新高北京时间周三晚21点30分，美国商务部普查局发布1月零售销售数据。与令人大跌眼镜的1月非农一样，美国1月零售数据环比暴拉3%，远超市场预期的1.8%，并创下2021年3月以来新高。3、美联储“二把手”即将空缺 白宫考虑让新晋芝加哥联储主席继任据媒体援引消息人士报道，白宫正在考虑提名上月刚就任的芝加哥联储主席古尔斯比担任美联储理事会副主席。美国总统拜登周二宣布，他将任命现任美联储副主席莱尔·布雷纳德担任白宫国家经济委员会（NEC）主任一职。这意味着随着布雷纳德下周离开美国央行，美联储副主席的职位将处于空缺状态。4、马斯克锐评人工智能：危险程度超过核技术当地时间周三（2月15日），埃隆·马斯克在阿联酋迪拜的2023年世界政府峰会上表示，ChatGPT证实了人工智能（AI）已经获得了令人难以置信的发展，但这已成为人类应该担心的一件事。马斯克在视频发言中强调，人工智能是未来人类文明最大的风险之一。他补充称，“它有积极的一面，也有消极的一面，有巨大的前景也有巨大的能力，但随之而来的危险也是巨大的。”马斯克指出，现在应该监督管理人工智能的安全问题，即使会放慢这一技术的发展速度。他补充称，实际上，人工智能对社会的风险要比汽车、飞机或药品更大，“以核技术为例，我们有核能，但也有核弹。”5、IEA月报：中国经济复苏提振全球石油需求 下半年可能出现供应短缺国际能源署(IEA)周三上调了今年全球石油需求预期，在中国优化防疫政策之后，将显著提振今年石油需求。同时IEA预测今年下半年将会出现供应短缺。IEA在月度报告中指出，今年的全球石油需求将飙升至创纪录的1.019亿桶/日，几乎完全得益于亚洲的旺盛需求，这一预期比IEA上个月的数据要高出20万桶/日。俄乌局势1、俄外长：将要求联合国对“北溪”管道遭破坏事件进行调查当地时间周三(2月15日)，俄罗斯外交部长拉夫罗夫表示，西方在“北溪”天然气管道遭破坏问题上对俄罗斯撒谎，隐瞒关于北溪管道遭破坏的真相。拉夫罗夫声称，俄方正就召开联合国安理会特别会议做准备，将要求联合国对事件进行调查。拉夫罗夫补充说，俄方不同意有关联合国无权调查北溪管道遭破坏事件的说法。2、坚守中立传统？瑞士政府：没收俄罗斯被冻结资产不合法当地时间周三（2月15日），瑞士政府表示，没收被冻结的俄罗斯资产不符合宪法和法律。瑞士政府在声明中表示，由瑞士联邦司法办公室领导的一个工作组得出结论：没收俄罗斯私人财产将破坏联邦宪法和现行法律秩序。瑞士政府称，无论结论如何，该国对乌克兰的支持将继续下去。3、瑞典首相克里斯特松表示将向乌克兰提供一批武器据乌克兰媒体报道，当地时间15日，乌总统泽连斯基和总理什梅加尔在基辅分别会见了到访的瑞典首相克里斯特松。双方会谈内容主要集中在双边军事和能源合作。在与泽连斯基会谈后举行的新闻发布会上，克里斯特松表示，瑞典将向乌方提供51辆步兵战车、1套“弓箭手”自行榴弹炮和若干防空武器。此外，不排除瑞典将向乌克兰提供“鹰狮”战斗机的可能性，但前提是相关国家达成一致。公司新闻1、美国司法部据称加大对苹果的反垄断调查力度据媒体援引消息人士报道，美国司法部近几个月加大了起草针对苹果公司的反垄断诉讼的工作力度。知情人士称，对苹果是否拥有其滥用的垄断权力的调查始于2019年，但执法人员最近几个月加大了力度，现在有更多诉讼律师被派往负责此案，并要求相关公司提供文件和咨询。该调查部分涉及苹果在其设备上管理移动第三方软件的政策，据悉还在调查苹果iOS是否以反竞争的方式运营，是否偏袒自己的产品。2、瑞信继续削减业务风险 将不再从事不良债业务据媒体援引消息人士报道，瑞信集团按照其退出高风险和资本密集型业务的计划，将不再从事不良债务和特殊情况交易。知情人士透露，该行将会抛售与陷入困境的企业有关的债券和贷款在内的资产，市值大约2.5亿美元。去年12月份投资组合待售后，买家将于本周给出最终出价。瑞信刚刚启动代价高昂的重组，其中包括裁减9000个岗位，以及将一大块投行业务列入First Boston品牌之下。作为重组计划的一部分，瑞信已经设立了一个“非核心部门”，其计划清算的资产列在该部门之下，因这些资产与主要的理财业务没有关联，也不符合投行策略。3、苹果获得折叠屏技术专利 或将在2024年率先推出折叠屏iPad当地时间周二（2月14日），美国专利及商标局（USPTO）网站显示，苹果获得了一份重磅专利，燃起了市场对这家公司推出可折叠设备的预期。文件显示，苹果在专利展示了一件可以对折的设备，屏幕几乎环绕整个机身，这件设备配备多个触摸传感器，甚至是在设备边缘的部位。专利文件显示，这将允许用户通过触摸设备的不同部分，以实现对应的功能。例如，用户可以通过轻敲设备的侧面来控制摄像头，苹果将其称为“虚拟快门按钮”；用户还可以用手指在侧面上下滑动来控制设备音量。瑞银分析师在最新报告中写道，这项专利表明了可折叠设备的可能性，但不是在今年。市场研究公司CCSInsight去年预计，苹果将在2024年率先推出折叠屏iPad。4、波音：预计2月737交付量将下滑至20-30架区间的低端波音公司CFO称，预计2月份737飞机交付量将下滑至20-30架区间的低端；到2023年稍晚，波音将把737飞机产量提高至每个月38架；维持737 飞机今年的交付量为400-450架的预测；供应链仍然不稳定，也仍然不可预测。5、福特将F-150电动皮卡的停产时间延长至至少下周末福特汽车周三表示，因正在调查电池问题，将暂停F-150 Lightning电动皮卡的生产至少到下周末。福特称，它相信已经确定了根本原因，预计在下周末之前完成调查，并将调查应用到皮卡的电池生产过程中，这可能需要几周的时间。福特周二透露，由于潜在的电池问题，已暂停F-150 Lighting电动皮卡的生产和出货。","news_type":1,"symbols_score_info":{"QQQ":0.9,"SQQQ":0.9,".DJI":0.9,"03086":0.9,"TQQQ":0.9,".IXIC":0.9,"MNQmain":0.9,".SPX":0.9,"QLD":0.9,"PSQ":0.9,"QID":0.9,"NQmain":0.9}},"isVote":1,"tweetType":1,"viewCount":4785,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":625280494,"gmtCreate":1676508761120,"gmtModify":1676508761120,"author":{"id":"3570100124824816","authorId":"3570100124824816","name":"云中梧桐","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570100124824816","idStr":"3570100124824816"},"themes":[],"title":"","htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/625280494","repostId":"1124094165","repostType":2,"repost":{"id":"1124094165","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":1676505305,"share":"https://ttm.financial/m/news/1124094165?lang=en_US&edition=fundamental","pubTime":"2023-02-16 07:55","market":"us","language":"zh","title":"Last night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.","url":"https://stock-news.laohu8.com/highlight/detail?id=1124094165","media":"老虎资讯综合","summary":"摘要：①无惧加息预期升温，隔夜美股三大股指收高，纳指涨近1%；②查理·芒格盛赞比亚迪：在中国市场让特斯拉相形见绌；③马斯克锐评人工智能：危险程度超过核技术。海外行情1、无惧加息预期升温美股三大股指收高","content":"<p><html><head></head><body>Abstract: ① Despite rising rate hike expectations, the three major U.S. stock indexes closed higher overnight, with the Nasdaq rising nearly 1%; ② Charlie Munger praised<a href=\"https://laohu8.com/S/002594\">BYD</a>In the Chinese market<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Pale in comparison; ③ Musk sharply criticized artificial intelligence: it is more dangerous than nuclear technology.<img src=\"https://static.tigerbbs.com/4bc45bac28ddf4f047f204e5e8c5f645\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>Overseas Market</p><p>1. Despite rising rate hike expectations, the three major US stock indexes closed higher, with the Nasdaq rising nearly 1%.</p><p>U.S. stocks closed higher on Wednesday, with the Nasdaq recording its third consecutive trading day of gains. U.S. retail sales rose 3% month-on-month in January, exceeding expectations and marking the largest increase since March 2021. This sends a clear signal that the economy is overheating and may indicate stubborn high inflation, increasing market expectations that the Federal Reserve may rate hike to higher levels for a longer period. At the close of trading, the Nasdaq index rose 0.92%; The Dow Jones Industrial Average rose 0.11%; The S&P 500 rose 0.28%.</p><p>Most large technology stocks rose.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Up 1.39%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>It rose 1.46%, while Meta fell 1.29%.<a href=\"https://laohu8.com/S/GOOG\">Google</a>Up 2.39%<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Down 0.80%, Netflix up 0.41%.<a href=\"https://laohu8.com/S/TSM\">TSMC</a>It fell 5.31%. WSB concept stocks and video game stocks led the gains, with Roblox rising over 26%.<a href=\"https://laohu8.com/S/GME\">Game Station</a>Up more than 9%,<a href=\"https://laohu8.com/S/HOOD\">Robinhood</a>It rose by more than 5%. Vaccine stocks and gold stocks saw the largest declines.<a href=\"https://laohu8.com/S/HL\">Hekla Mining</a>It fell more than 9%.<a href=\"https://laohu8.com/S/GORO\">gold resources</a>It fell more than 6%.<a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It fell by more than 3%.</p><p>A century-old bank—<a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>The stock price suddenly collapsed, with the stock plummeting as much as 11% in pre-market trading before closing down 8.41%. The company suddenly experienced two major shocks: First, according to sources, the UK's financial regulator is investigating...<a href=\"https://laohu8.com/S/BARC.UK\">Barclays Bank</a>An investigation was conducted to suspect that its compliance and anti-money laundering systems were persistently ineffective; Secondly, on February 15, Barclays announced its 2022 financial results. Financial reports show that Barclays' pre-tax profit in 2022 fell 14% year-on-year, far below market expectations.</p><p>2. Popular Chinese concept stocks showed mixed performance; the Nasdaq China Golden Dragon Index rose 0.30%.</p><p>Popular Chinese concept stocks were mixed, with the Nasdaq China Golden Dragon Index rising 0.30%.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell 1.09%.<a href=\"https://laohu8.com/S/JD\">JD.com</a>It fell 0.17%.<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell 1.49%.<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Up 0.80%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up 1.99%<a href=\"https://laohu8.com/S/NTES\">NetEase</a>It fell 0.45%.</p><p>3. Major European stock indices generally closed higher, with Germany's DAX 30 up 0.82%.</p><p>Major European stock indices closed higher on Wednesday, with Germany's DAX 30 up 0.82%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.55%, the French CAC40 rose 1.21%, and the European Stoxx 50 rose 0.97%.</p><p>4. Last week, EIA oil inventories surged by over 16 million barrels. Oil prices fell for two consecutive days, but the decline narrowed significantly at the close.</p><p>Oil prices fell for two consecutive days due to the prospect of central banks in Europe and the United States rate hike to higher levels for a longer period, as well as rising inventories, but improved demand and supply constraints provided some price support.</p><p>WTI crude oil futures for March delivery closed down $0.47, or 0.59%, at $78.59 a barrel. The intraday low was as low as $1.78, or 2.3%, and the daily low was near $77. U.S. stocks narrowed their losses significantly after midday. Brent crude oil futures for April delivery closed down $0.20, or 0.23%, at $85.38 a barrel. They fell as much as $1.67, or 2%, during the session, briefly falling below $84 before rebounding after midday.</p><p>5. New York gold futures fell 1.1% on Wednesday, hitting their lowest closing price in five weeks.</p><p>Gold futures for April delivery on the New York Mercantile Exchange fell $20.10, or 1.1%, to settle at $1,845.30 an ounce, the lowest closing price for the most active contract since January 5. A stronger dollar has put pressure on gold prices.</p><p>Macro News</p><p>1. Charlie Munger praises BYD: It dwarfs Tesla in the Chinese market.</p><p>On Wednesday (February 15) local time, Warren Buffett's long-time business partner,<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Vice Chairman Charlie Munger said it was unbelievable that BYD had dwarfed Tesla in the Chinese market.</p><p>The 99-year-old Munger praised BYD as his favorite stock to date, stating frankly that in his years working at Berkshire Hathaway, he had never made a transaction that could compare to investing in BYD.</p><p>2. US January retail sales data crushed expectations, with month-on-month growth reaching a new high since March 2021.</p><p>At 9:30 p.m. Beijing time on Wednesday, the U.S. Commerce Department's Census Bureau released January retail sales data. Similar to the surprising January non-farm payrolls data, U.S. retail sales surged 3% month-on-month in January, far exceeding market expectations of 1.8% and reaching a new high since March 2021.</p><p>3. The Federal Reserve's second-in-command is about to become vacant; the White House is considering appointing a newly appointed Chicago Fed president to succeed him.</p><p>According to media reports citing sources, the White House is considering nominating Chicago Fed President Goolsby, who took office last month, to serve as Vice Chairman of the Federal Reserve Board of Governors.</p><p>U.S. President Joe Biden announced on Tuesday that he will appoint current Federal Reserve Vice Chairman Lyle Brainard to the position of director of the White House National Economic Council (NEC). This means that with Brainard leaving the Federal Reserve next week, the position of Federal Reserve Vice Chairman will be vacant.</p><p>4. Musk sharply criticizes artificial intelligence: It is more dangerous than nuclear technology.</p><p>On Wednesday (February 15) local time, Elon Musk said at the 2023 World Government Summit in Dubai, UAE, that ChatGPT has confirmed that artificial intelligence (AI) has made incredible progress, but this has become something that humanity should be worried about.</p><p>In his video address, Musk emphasized that artificial intelligence is one of the greatest risks to the future of human civilization. He added, \"It has both positive and negative aspects; it has great prospects and great capabilities, but the dangers that come with it are also enormous.\"</p><p>Musk pointed out that the safety of artificial intelligence should now be monitored and managed, even if it slows down the development of the technology. He added that artificial intelligence actually poses a greater risk to society than cars, airplanes, or pharmaceuticals. \"Take nuclear technology as an example. We have nuclear energy, but we also have nuclear bombs.\"</p><p>5. IEA Monthly Report: China's economic recovery boosts global oil demand; supply shortages may occur in the second half of the year.</p><p>The International Energy Agency (IEA) raised its global oil demand forecast for this year on Wednesday, which is expected to significantly boost oil demand after China optimized its epidemic prevention policies. Meanwhile, the IEA predicts that there will be a supply shortage in the second half of this year.</p><p>In its monthly report, the IEA noted that global oil demand will surge to a record 101.9 million barrels per day this year, almost entirely due to strong demand in Asia, a forecast 200,000 barrels per day higher than the IEA's data last month.</p><p>Russia-Ukraine situation</p><p>1. Russian Foreign Minister: Will request the UN to investigate the damage to the Nord Stream pipeline.</p><p>On Wednesday (February 15) local time, Russian Foreign Minister Sergey Lavrov said that the West lied to Russia about the damage to the Nord Stream gas pipeline and concealed the truth about the damage.</p><p>Lavrov claimed that Russia is preparing to convene a special meeting of the UN Security Council and will request the UN to investigate the incident. Lavrov added that Russia disagrees with the claim that the United Nations has no authority to investigate the damage to the Nord Stream pipeline.</p><p>2. Uphold the tradition of neutrality? Swiss government: Confiscation of frozen Russian assets is illegal</p><p>On Wednesday (February 15) local time, the Swiss government stated that the confiscation of frozen Russian assets was unconstitutional and unlawful.</p><p>In a statement, the Swiss government said that a working group led by the Swiss Federal Office of Justice concluded that confiscating Russian private property would undermine the federal constitution and the existing legal order. The Swiss government stated that its support for Ukraine will continue regardless of the outcome.</p><p>3. Swedish Prime Minister Christensen stated that he will provide a batch of weapons to Ukraine.</p><p>According to Ukrainian media reports, on the 15th local time, Ukrainian President Zelenskyy and Prime Minister Shmegal met separately with visiting Swedish Prime Minister Christensen in Kyiv. The talks between the two sides mainly focused on bilateral military and energy cooperation. At a press conference following his talks with Zelensky, Kristersson stated that Sweden will provide Ukraine with 51 infantry fighting vehicles, one Archer self-propelled howitzer, and several anti-aircraft weapons. In addition, the possibility that Sweden will provide Gripen fighter jets to Ukraine cannot be ruled out, but only if the relevant countries reach an agreement.</p><p>Company News</p><p>1. The U.S. Department of Justice reportedly intensified its antitrust investigation into Apple.</p><p>According to media reports citing sources, the U.S. Department of Justice has intensified its efforts in drafting an antitrust lawsuit against Apple in recent months.</p><p>Sources familiar with the matter said the investigation into whether Apple possessed the monopoly power it abused began in 2019, but law enforcement has intensified its efforts in recent months, with more litigation lawyers now assigned to the case and requesting documents and advice from the companies involved. The investigation partly involves Apple's policies on managing mobile third-party software on its devices, and is also reportedly investigating whether Apple's iOS operates in an anti-competitive manner and whether it favors its own products.</p><p>2. Credit Suisse continues to reduce business risks and will no longer engage in non-performing loan business.</p><p>According to media reports citing sources, Credit Suisse Group will no longer engage in non-performing loan and special circumstances transactions in accordance with its plan to exit high-risk and capital-intensive businesses.</p><p>Sources familiar with the matter revealed that the bank will sell assets, including bonds and loans related to troubled companies, with a market value of approximately $250 million. After the portfolio was put up for sale last December, buyers will make their final offers this week. Credit Suisse has just launched a costly restructuring that includes cutting 9,000 jobs and bringing a large part of its investment banking business under the First Boston brand.</p><p>As part of its restructuring plan, Credit Suisse has established a \"non-core department\" under which the assets it plans to liquidate are listed because these assets are not related to its main wealth management business and are not in line with its investment banking strategy.</p><p>3. Apple has obtained a foldable screen technology patent and may be the first to launch a foldable iPad in 2024.</p><p>On Tuesday (February 14) local time, the U.S. Patent and Trademark Office (USPTO) website showed that Apple had obtained a blockbuster patent, igniting market expectations for the company to launch a foldable device.</p><p>The documents show that Apple showcased a foldable device in the patent, with a screen that almost wraps around the entire body. The device is equipped with multiple touch sensors, even at the edges of the device. The patent document shows that this will allow users to touch different parts of the device to achieve corresponding functions. For example, users can control the camera by tapping the side of the device, which Apple calls a \"virtual shutter button\"; Users can also swipe their fingers up and down the sides to control the device volume.</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>Analysts wrote in their latest report that the patent indicates the possibility of foldable devices, but not this year. Market research firm CCSInsight predicted last year that Apple would be the first to launch a foldable iPad in 2024.</p><p>4、<a href=\"https://laohu8.com/S/BA\">boeing</a>February 737 deliveries are expected to decline to the low end of the 20-30 aircraft range.</p><p>Boeing's CFO stated that 737 deliveries are expected to decline to the low end of the 20-30 aircraft range in February. By later 2023, Boeing will increase production of 737 aircraft to 38 per month; We maintain our forecast of 400-450 737 aircraft delivered this year; Supply chains remain unstable and unpredictable.</p><p>5. Ford has extended the production halt for the F-150 electric pickup truck until at least next weekend.</p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>On Wednesday, it announced that production of the F-150 Lightning electric pickup truck will be suspended until at least next weekend due to an investigation into battery issues.</p><p>Ford says it believes it has identified the root cause and expects to complete the investigation by next weekend, which could take several weeks to apply to the pickup truck's battery production process.</p><p>Ford revealed on Tuesday that it has suspended production and shipments of the F-150 Lighting electric pickup truck due to potential battery issues.</p><p></body></html></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>Last night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.</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\">\nLast night and this morning | The Nasdaq closed up nearly 1%! This century-old bank plummeted 8%, prompting Russia to demand an investigation into the Nord Stream incident.\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\">2023-02-16 07:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Abstract: ① Despite rising rate hike expectations, the three major U.S. stock indexes closed higher overnight, with the Nasdaq rising nearly 1%; ② Charlie Munger praised<a href=\"https://laohu8.com/S/002594\">BYD</a>In the Chinese market<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Pale in comparison; ③ Musk sharply criticized artificial intelligence: it is more dangerous than nuclear technology.<img src=\"https://static.tigerbbs.com/4bc45bac28ddf4f047f204e5e8c5f645\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>Overseas Market</p><p>1. Despite rising rate hike expectations, the three major US stock indexes closed higher, with the Nasdaq rising nearly 1%.</p><p>U.S. stocks closed higher on Wednesday, with the Nasdaq recording its third consecutive trading day of gains. U.S. retail sales rose 3% month-on-month in January, exceeding expectations and marking the largest increase since March 2021. This sends a clear signal that the economy is overheating and may indicate stubborn high inflation, increasing market expectations that the Federal Reserve may rate hike to higher levels for a longer period. At the close of trading, the Nasdaq index rose 0.92%; The Dow Jones Industrial Average rose 0.11%; The S&P 500 rose 0.28%.</p><p>Most large technology stocks rose.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Up 1.39%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>It rose 1.46%, while Meta fell 1.29%.<a href=\"https://laohu8.com/S/GOOG\">Google</a>Up 2.39%<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Down 0.80%, Netflix up 0.41%.<a href=\"https://laohu8.com/S/TSM\">TSMC</a>It fell 5.31%. WSB concept stocks and video game stocks led the gains, with Roblox rising over 26%.<a href=\"https://laohu8.com/S/GME\">Game Station</a>Up more than 9%,<a href=\"https://laohu8.com/S/HOOD\">Robinhood</a>It rose by more than 5%. Vaccine stocks and gold stocks saw the largest declines.<a href=\"https://laohu8.com/S/HL\">Hekla Mining</a>It fell more than 9%.<a href=\"https://laohu8.com/S/GORO\">gold resources</a>It fell more than 6%.<a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It fell by more than 3%.</p><p>A century-old bank—<a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>The stock price suddenly collapsed, with the stock plummeting as much as 11% in pre-market trading before closing down 8.41%. The company suddenly experienced two major shocks: First, according to sources, the UK's financial regulator is investigating...<a href=\"https://laohu8.com/S/BARC.UK\">Barclays Bank</a>An investigation was conducted to suspect that its compliance and anti-money laundering systems were persistently ineffective; Secondly, on February 15, Barclays announced its 2022 financial results. Financial reports show that Barclays' pre-tax profit in 2022 fell 14% year-on-year, far below market expectations.</p><p>2. Popular Chinese concept stocks showed mixed performance; the Nasdaq China Golden Dragon Index rose 0.30%.</p><p>Popular Chinese concept stocks were mixed, with the Nasdaq China Golden Dragon Index rising 0.30%.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell 1.09%.<a href=\"https://laohu8.com/S/JD\">JD.com</a>It fell 0.17%.<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell 1.49%.<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Up 0.80%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up 1.99%<a href=\"https://laohu8.com/S/NTES\">NetEase</a>It fell 0.45%.</p><p>3. Major European stock indices generally closed higher, with Germany's DAX 30 up 0.82%.</p><p>Major European stock indices closed higher on Wednesday, with Germany's DAX 30 up 0.82%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.55%, the French CAC40 rose 1.21%, and the European Stoxx 50 rose 0.97%.</p><p>4. Last week, EIA oil inventories surged by over 16 million barrels. Oil prices fell for two consecutive days, but the decline narrowed significantly at the close.</p><p>Oil prices fell for two consecutive days due to the prospect of central banks in Europe and the United States rate hike to higher levels for a longer period, as well as rising inventories, but improved demand and supply constraints provided some price support.</p><p>WTI crude oil futures for March delivery closed down $0.47, or 0.59%, at $78.59 a barrel. The intraday low was as low as $1.78, or 2.3%, and the daily low was near $77. U.S. stocks narrowed their losses significantly after midday. Brent crude oil futures for April delivery closed down $0.20, or 0.23%, at $85.38 a barrel. They fell as much as $1.67, or 2%, during the session, briefly falling below $84 before rebounding after midday.</p><p>5. New York gold futures fell 1.1% on Wednesday, hitting their lowest closing price in five weeks.</p><p>Gold futures for April delivery on the New York Mercantile Exchange fell $20.10, or 1.1%, to settle at $1,845.30 an ounce, the lowest closing price for the most active contract since January 5. A stronger dollar has put pressure on gold prices.</p><p>Macro News</p><p>1. Charlie Munger praises BYD: It dwarfs Tesla in the Chinese market.</p><p>On Wednesday (February 15) local time, Warren Buffett's long-time business partner,<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Vice Chairman Charlie Munger said it was unbelievable that BYD had dwarfed Tesla in the Chinese market.</p><p>The 99-year-old Munger praised BYD as his favorite stock to date, stating frankly that in his years working at Berkshire Hathaway, he had never made a transaction that could compare to investing in BYD.</p><p>2. US January retail sales data crushed expectations, with month-on-month growth reaching a new high since March 2021.</p><p>At 9:30 p.m. Beijing time on Wednesday, the U.S. Commerce Department's Census Bureau released January retail sales data. Similar to the surprising January non-farm payrolls data, U.S. retail sales surged 3% month-on-month in January, far exceeding market expectations of 1.8% and reaching a new high since March 2021.</p><p>3. The Federal Reserve's second-in-command is about to become vacant; the White House is considering appointing a newly appointed Chicago Fed president to succeed him.</p><p>According to media reports citing sources, the White House is considering nominating Chicago Fed President Goolsby, who took office last month, to serve as Vice Chairman of the Federal Reserve Board of Governors.</p><p>U.S. President Joe Biden announced on Tuesday that he will appoint current Federal Reserve Vice Chairman Lyle Brainard to the position of director of the White House National Economic Council (NEC). This means that with Brainard leaving the Federal Reserve next week, the position of Federal Reserve Vice Chairman will be vacant.</p><p>4. Musk sharply criticizes artificial intelligence: It is more dangerous than nuclear technology.</p><p>On Wednesday (February 15) local time, Elon Musk said at the 2023 World Government Summit in Dubai, UAE, that ChatGPT has confirmed that artificial intelligence (AI) has made incredible progress, but this has become something that humanity should be worried about.</p><p>In his video address, Musk emphasized that artificial intelligence is one of the greatest risks to the future of human civilization. He added, \"It has both positive and negative aspects; it has great prospects and great capabilities, but the dangers that come with it are also enormous.\"</p><p>Musk pointed out that the safety of artificial intelligence should now be monitored and managed, even if it slows down the development of the technology. He added that artificial intelligence actually poses a greater risk to society than cars, airplanes, or pharmaceuticals. \"Take nuclear technology as an example. We have nuclear energy, but we also have nuclear bombs.\"</p><p>5. IEA Monthly Report: China's economic recovery boosts global oil demand; supply shortages may occur in the second half of the year.</p><p>The International Energy Agency (IEA) raised its global oil demand forecast for this year on Wednesday, which is expected to significantly boost oil demand after China optimized its epidemic prevention policies. Meanwhile, the IEA predicts that there will be a supply shortage in the second half of this year.</p><p>In its monthly report, the IEA noted that global oil demand will surge to a record 101.9 million barrels per day this year, almost entirely due to strong demand in Asia, a forecast 200,000 barrels per day higher than the IEA's data last month.</p><p>Russia-Ukraine situation</p><p>1. Russian Foreign Minister: Will request the UN to investigate the damage to the Nord Stream pipeline.</p><p>On Wednesday (February 15) local time, Russian Foreign Minister Sergey Lavrov said that the West lied to Russia about the damage to the Nord Stream gas pipeline and concealed the truth about the damage.</p><p>Lavrov claimed that Russia is preparing to convene a special meeting of the UN Security Council and will request the UN to investigate the incident. Lavrov added that Russia disagrees with the claim that the United Nations has no authority to investigate the damage to the Nord Stream pipeline.</p><p>2. Uphold the tradition of neutrality? Swiss government: Confiscation of frozen Russian assets is illegal</p><p>On Wednesday (February 15) local time, the Swiss government stated that the confiscation of frozen Russian assets was unconstitutional and unlawful.</p><p>In a statement, the Swiss government said that a working group led by the Swiss Federal Office of Justice concluded that confiscating Russian private property would undermine the federal constitution and the existing legal order. The Swiss government stated that its support for Ukraine will continue regardless of the outcome.</p><p>3. Swedish Prime Minister Christensen stated that he will provide a batch of weapons to Ukraine.</p><p>According to Ukrainian media reports, on the 15th local time, Ukrainian President Zelenskyy and Prime Minister Shmegal met separately with visiting Swedish Prime Minister Christensen in Kyiv. The talks between the two sides mainly focused on bilateral military and energy cooperation. At a press conference following his talks with Zelensky, Kristersson stated that Sweden will provide Ukraine with 51 infantry fighting vehicles, one Archer self-propelled howitzer, and several anti-aircraft weapons. In addition, the possibility that Sweden will provide Gripen fighter jets to Ukraine cannot be ruled out, but only if the relevant countries reach an agreement.</p><p>Company News</p><p>1. The U.S. Department of Justice reportedly intensified its antitrust investigation into Apple.</p><p>According to media reports citing sources, the U.S. Department of Justice has intensified its efforts in drafting an antitrust lawsuit against Apple in recent months.</p><p>Sources familiar with the matter said the investigation into whether Apple possessed the monopoly power it abused began in 2019, but law enforcement has intensified its efforts in recent months, with more litigation lawyers now assigned to the case and requesting documents and advice from the companies involved. The investigation partly involves Apple's policies on managing mobile third-party software on its devices, and is also reportedly investigating whether Apple's iOS operates in an anti-competitive manner and whether it favors its own products.</p><p>2. Credit Suisse continues to reduce business risks and will no longer engage in non-performing loan business.</p><p>According to media reports citing sources, Credit Suisse Group will no longer engage in non-performing loan and special circumstances transactions in accordance with its plan to exit high-risk and capital-intensive businesses.</p><p>Sources familiar with the matter revealed that the bank will sell assets, including bonds and loans related to troubled companies, with a market value of approximately $250 million. After the portfolio was put up for sale last December, buyers will make their final offers this week. Credit Suisse has just launched a costly restructuring that includes cutting 9,000 jobs and bringing a large part of its investment banking business under the First Boston brand.</p><p>As part of its restructuring plan, Credit Suisse has established a \"non-core department\" under which the assets it plans to liquidate are listed because these assets are not related to its main wealth management business and are not in line with its investment banking strategy.</p><p>3. Apple has obtained a foldable screen technology patent and may be the first to launch a foldable iPad in 2024.</p><p>On Tuesday (February 14) local time, the U.S. Patent and Trademark Office (USPTO) website showed that Apple had obtained a blockbuster patent, igniting market expectations for the company to launch a foldable device.</p><p>The documents show that Apple showcased a foldable device in the patent, with a screen that almost wraps around the entire body. The device is equipped with multiple touch sensors, even at the edges of the device. The patent document shows that this will allow users to touch different parts of the device to achieve corresponding functions. For example, users can control the camera by tapping the side of the device, which Apple calls a \"virtual shutter button\"; Users can also swipe their fingers up and down the sides to control the device volume.</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>Analysts wrote in their latest report that the patent indicates the possibility of foldable devices, but not this year. Market research firm CCSInsight predicted last year that Apple would be the first to launch a foldable iPad in 2024.</p><p>4、<a href=\"https://laohu8.com/S/BA\">boeing</a>February 737 deliveries are expected to decline to the low end of the 20-30 aircraft range.</p><p>Boeing's CFO stated that 737 deliveries are expected to decline to the low end of the 20-30 aircraft range in February. By later 2023, Boeing will increase production of 737 aircraft to 38 per month; We maintain our forecast of 400-450 737 aircraft delivered this year; Supply chains remain unstable and unpredictable.</p><p>5. Ford has extended the production halt for the F-150 electric pickup truck until at least next weekend.</p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>On Wednesday, it announced that production of the F-150 Lightning electric pickup truck will be suspended until at least next weekend due to an investigation into battery issues.</p><p>Ford says it believes it has identified the root cause and expects to complete the investigation by next weekend, which could take several weeks to apply to the pickup truck's battery production process.</p><p>Ford revealed on Tuesday that it has suspended production and shipments of the F-150 Lighting electric pickup truck due to potential battery issues.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"BK4585":"ETF&股票定投概念",".DJI":"道琼斯","BK4561":"索罗斯持仓","QLD":"2倍做多纳斯达克100指数ETF-ProShares","BK4534":"瑞士信贷持仓","03086":"华夏纳指","PSQ":"做空纳斯达克100指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","BK4581":"高盛持仓",".IXIC":"NASDAQ Composite","QID":"两倍做空纳斯达克指数ETF-ProShares","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF",".SPX":"S&P 500 Index","BK4550":"红杉资本持仓"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124094165","content_text":"摘要：①无惧加息预期升温，隔夜美股三大股指收高，纳指涨近1%；②查理·芒格盛赞比亚迪：在中国市场让特斯拉相形见绌；③马斯克锐评人工智能：危险程度超过核技术。海外行情1、无惧加息预期升温美股三大股指收高纳指涨近1%美股周三收高，纳指录得连续第三个交易日上涨。美国1月零售销售超预期环比增长3%，创2021年3月以来最大增幅，发出明确的经济过热信号，或意味着高通胀顽固，增加了市场对美联储可能在更长时间内加息至更高水平的预期。截至收盘，纳斯达克指数涨幅为0.92%；道琼斯指数涨幅为0.11%；标普500指数涨幅为0.28%。大型科技股多数上涨，苹果涨1.39%，亚马逊涨1.46%，Meta跌1.29%，谷歌涨2.39%，微软跌0.80%，奈飞涨0.41%，台积电跌5.31%。WSB概念股、电游股涨幅居前，Roblox涨超26%，游戏驿站涨超9%，Robinhood涨超5%。疫苗股、黄金股跌幅居前，赫克拉矿业跌超9%，黄金资源跌超6%，礼来跌超3%。百年大行——巴克莱银行股价突然崩盘，美股盘前该股一度狂跌11%，最终收跌8.41%。该公司突然出现两个大雷：一是据知情人士透露，英国金融监督管理机构正在对巴克莱银行进行调查，怀疑其合规和反洗钱系统持续失效；二是2月15日，巴克莱公布了2022年财务业绩。财报显示，巴克莱2022年税前利润同比下降14%，远低市场预期。2、热门中概股涨跌不一 纳斯达克中国金龙指数涨0.30%热门中概股涨跌不一，纳斯达克中国金龙指数涨0.30%，阿里巴巴跌1.09%，京东跌0.17%，拼多多跌1.49%，哔哩哔哩涨0.80%，百度涨1.99%，网易跌0.45%。3、欧股主要指数收盘普涨德国DAX30指数涨0.82%欧股主要指数周三收盘普涨，德国DAX30指数涨0.82%，英国富时100指数涨0.55%，法国CAC40指数涨1.21%，欧洲斯托克50指数涨0.97%。4、上周EIA油储激增超1600万桶油价连跌两日但尾盘跌幅显著收窄欧美央行在更长时间内加息至更高水平的前景，以及库存增加令油价连跌两日，但需求改善和供应限制提供一定价格支撑。WTI 3月原油期货收跌0.47美元，跌幅0.59%，报78.59美元/桶，盘中最深跌1.78美元或跌2.3%，日低下逼77美元，美股午盘后跌幅显著收窄。布伦特4月原油期货收跌0.20美元，跌幅0.23%，报85.38美元/桶，盘中最深跌1.67美元或跌2%，一度失守84美元，午盘后一度转涨。5、纽约黄金期货周三收跌1.1% 创五周来最低收盘价纽约商品交易所4月交割的黄金期货价格下跌20.10美元，跌幅为1.1%，收于每盎司1845.30美元，为1月5日以来最活跃合约的最低收盘价。美元走强令黄金价格承压。宏观新闻1、查理·芒格盛赞比亚迪：在中国市场让特斯拉相形见绌当地时间周三（2月15日），“股神”巴菲特的长期商业伙伴、伯克希尔副董事长查理·芒格表示，比亚迪在中国市场让特斯拉相形见绌，这令人难以置信。现年99岁的芒格盛赞比亚迪是他迄今为止最喜欢的股票，他直言，在伯克希尔工作的这些年，他没有进行过能够比肩投资比亚迪的操作。2、美国1月零售数据碾压预期 环比增速创2021年3月以来新高北京时间周三晚21点30分，美国商务部普查局发布1月零售销售数据。与令人大跌眼镜的1月非农一样，美国1月零售数据环比暴拉3%，远超市场预期的1.8%，并创下2021年3月以来新高。3、美联储“二把手”即将空缺 白宫考虑让新晋芝加哥联储主席继任据媒体援引消息人士报道，白宫正在考虑提名上月刚就任的芝加哥联储主席古尔斯比担任美联储理事会副主席。美国总统拜登周二宣布，他将任命现任美联储副主席莱尔·布雷纳德担任白宫国家经济委员会（NEC）主任一职。这意味着随着布雷纳德下周离开美国央行，美联储副主席的职位将处于空缺状态。4、马斯克锐评人工智能：危险程度超过核技术当地时间周三（2月15日），埃隆·马斯克在阿联酋迪拜的2023年世界政府峰会上表示，ChatGPT证实了人工智能（AI）已经获得了令人难以置信的发展，但这已成为人类应该担心的一件事。马斯克在视频发言中强调，人工智能是未来人类文明最大的风险之一。他补充称，“它有积极的一面，也有消极的一面，有巨大的前景也有巨大的能力，但随之而来的危险也是巨大的。”马斯克指出，现在应该监督管理人工智能的安全问题，即使会放慢这一技术的发展速度。他补充称，实际上，人工智能对社会的风险要比汽车、飞机或药品更大，“以核技术为例，我们有核能，但也有核弹。”5、IEA月报：中国经济复苏提振全球石油需求 下半年可能出现供应短缺国际能源署(IEA)周三上调了今年全球石油需求预期，在中国优化防疫政策之后，将显著提振今年石油需求。同时IEA预测今年下半年将会出现供应短缺。IEA在月度报告中指出，今年的全球石油需求将飙升至创纪录的1.019亿桶/日，几乎完全得益于亚洲的旺盛需求，这一预期比IEA上个月的数据要高出20万桶/日。俄乌局势1、俄外长：将要求联合国对“北溪”管道遭破坏事件进行调查当地时间周三(2月15日)，俄罗斯外交部长拉夫罗夫表示，西方在“北溪”天然气管道遭破坏问题上对俄罗斯撒谎，隐瞒关于北溪管道遭破坏的真相。拉夫罗夫声称，俄方正就召开联合国安理会特别会议做准备，将要求联合国对事件进行调查。拉夫罗夫补充说，俄方不同意有关联合国无权调查北溪管道遭破坏事件的说法。2、坚守中立传统？瑞士政府：没收俄罗斯被冻结资产不合法当地时间周三（2月15日），瑞士政府表示，没收被冻结的俄罗斯资产不符合宪法和法律。瑞士政府在声明中表示，由瑞士联邦司法办公室领导的一个工作组得出结论：没收俄罗斯私人财产将破坏联邦宪法和现行法律秩序。瑞士政府称，无论结论如何，该国对乌克兰的支持将继续下去。3、瑞典首相克里斯特松表示将向乌克兰提供一批武器据乌克兰媒体报道，当地时间15日，乌总统泽连斯基和总理什梅加尔在基辅分别会见了到访的瑞典首相克里斯特松。双方会谈内容主要集中在双边军事和能源合作。在与泽连斯基会谈后举行的新闻发布会上，克里斯特松表示，瑞典将向乌方提供51辆步兵战车、1套“弓箭手”自行榴弹炮和若干防空武器。此外，不排除瑞典将向乌克兰提供“鹰狮”战斗机的可能性，但前提是相关国家达成一致。公司新闻1、美国司法部据称加大对苹果的反垄断调查力度据媒体援引消息人士报道，美国司法部近几个月加大了起草针对苹果公司的反垄断诉讼的工作力度。知情人士称，对苹果是否拥有其滥用的垄断权力的调查始于2019年，但执法人员最近几个月加大了力度，现在有更多诉讼律师被派往负责此案，并要求相关公司提供文件和咨询。该调查部分涉及苹果在其设备上管理移动第三方软件的政策，据悉还在调查苹果iOS是否以反竞争的方式运营，是否偏袒自己的产品。2、瑞信继续削减业务风险 将不再从事不良债业务据媒体援引消息人士报道，瑞信集团按照其退出高风险和资本密集型业务的计划，将不再从事不良债务和特殊情况交易。知情人士透露，该行将会抛售与陷入困境的企业有关的债券和贷款在内的资产，市值大约2.5亿美元。去年12月份投资组合待售后，买家将于本周给出最终出价。瑞信刚刚启动代价高昂的重组，其中包括裁减9000个岗位，以及将一大块投行业务列入First Boston品牌之下。作为重组计划的一部分，瑞信已经设立了一个“非核心部门”，其计划清算的资产列在该部门之下，因这些资产与主要的理财业务没有关联，也不符合投行策略。3、苹果获得折叠屏技术专利 或将在2024年率先推出折叠屏iPad当地时间周二（2月14日），美国专利及商标局（USPTO）网站显示，苹果获得了一份重磅专利，燃起了市场对这家公司推出可折叠设备的预期。文件显示，苹果在专利展示了一件可以对折的设备，屏幕几乎环绕整个机身，这件设备配备多个触摸传感器，甚至是在设备边缘的部位。专利文件显示，这将允许用户通过触摸设备的不同部分，以实现对应的功能。例如，用户可以通过轻敲设备的侧面来控制摄像头，苹果将其称为“虚拟快门按钮”；用户还可以用手指在侧面上下滑动来控制设备音量。瑞银分析师在最新报告中写道，这项专利表明了可折叠设备的可能性，但不是在今年。市场研究公司CCSInsight去年预计，苹果将在2024年率先推出折叠屏iPad。4、波音：预计2月737交付量将下滑至20-30架区间的低端波音公司CFO称，预计2月份737飞机交付量将下滑至20-30架区间的低端；到2023年稍晚，波音将把737飞机产量提高至每个月38架；维持737 飞机今年的交付量为400-450架的预测；供应链仍然不稳定，也仍然不可预测。5、福特将F-150电动皮卡的停产时间延长至至少下周末福特汽车周三表示，因正在调查电池问题，将暂停F-150 Lightning电动皮卡的生产至少到下周末。福特称，它相信已经确定了根本原因，预计在下周末之前完成调查，并将调查应用到皮卡的电池生产过程中，这可能需要几周的时间。福特周二透露，由于潜在的电池问题，已暂停F-150 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