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AhOng

AhOng

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2021-06-18

$HollyFrontier(HFC)$ can buy now?

2021-06-08

Read

Bank of America: Some Investment Patterns in US Stocks Since 1928

2021-06-20

Very good performance

An 18-fold increase in 10 years! Did you miss out on the generous dividends in tech stocks?

2021-09-20

$Fair Isaac Corp(FICO)$patience

@金思汇闻:FICO，一個有價值觀的偉大企業(十年十倍股系列五)

2021-09-18

This is good

2021-08-26

$Ulta Salon(ULTA)$US10 away from prediction of 420

2021-08-29

Interesting

Sorry, the original content has been removed

2021-04-01

$Lemonade, Inc.(LMND)$ back from dead?

2021-06-26

Sell when high?

Sorry, the original content has been removed

2021-06-07

Ok

410 billion yuan! CATL is facing a massive lifting of lock-up restrictions; can it weather the storm safely?

Go to Tiger App to see more news

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張燕生指出，國務院機構改革縮減編制的出發點不是爲了解決財政問題、節約錢，“這是庸俗化的曲解“。此舉關鍵是提高國務院的機構公共服務的效率，減少改革阻力。 在張燕生看來，這次改革是把過去40年來，中央部委、央地之間和一些專業職能部門之間存在的交叉職責進行理順，是一個漸進式的改革。 張燕生以金融監管爲例子，改革方案把金融監管的部門之間，如人民銀行、金融監管機構、證監會之間的交叉監管理清，爲今後金融系統性和區域性風險的防範和化解奠定堅實基礎。 理順與整合的改革思路反映到科學技術領域是重新組建科學技術部。張燕生進一步指出，重組科學技術部的核心問題是在面對百年變局中，從戰略全局的角度出發，使得國家的科技戰略資源的整合能力更強。 以下爲對話實錄： 圖片來源：圖蟲創意 時代財經：在衆多改革措施中，中央國家機關各部門縮編5%引發較多關注，有不少網友認爲削減編制或與財政緊張有關，你怎麼看？ 張燕生：當下確實存在不少理解誤區，把國務院機構改革縮減編制轉變職能加強協調認爲是爲了解決財政問題、節約錢，這完全是庸俗化的曲解。 放眼全球主要國家的資產負債狀況，中國國家資","listText":"本文來源：時代財經 作者：餘思毅 國務院機構改革方案來了！ 3月7日，第十四屆全國人民代表大會舉行第二次全體會議，會議內容包括聽取國務委員兼國務院祕書長肖捷關於國務院機構改革方案的說明。 據肖捷介紹，國務院提請全國人大代表審議的《國務院機構改革方案的議案》（下簡稱“改革方案議案”）涉及機構調整等內容，調整後，除國務院辦公廳外，國務院設置組成部門仍爲26個。 究竟如何理解改革方案的出發點與改革思路？3月7日傍晚，時代財經專訪了中國國際經濟交流中心首席研究員、國家發改委對外經濟研究所原所長張燕生，其對改革方案議案進行了解讀。 改革方案議案提及，中央國家機關各部門人員編制統一按照5%的比例進行精減，收回的編制主要用於加強重點領域和重要工作。 張燕生指出，國務院機構改革縮減編制的出發點不是爲了解決財政問題、節約錢，“這是庸俗化的曲解“。此舉關鍵是提高國務院的機構公共服務的效率，減少改革阻力。 在張燕生看來，這次改革是把過去40年來，中央部委、央地之間和一些專業職能部門之間存在的交叉職責進行理順，是一個漸進式的改革。 張燕生以金融監管爲例子，改革方案把金融監管的部門之間，如人民銀行、金融監管機構、證監會之間的交叉監管理清，爲今後金融系統性和區域性風險的防範和化解奠定堅實基礎。 理順與整合的改革思路反映到科學技術領域是重新組建科學技術部。張燕生進一步指出，重組科學技術部的核心問題是在面對百年變局中，從戰略全局的角度出發，使得國家的科技戰略資源的整合能力更強。 以下爲對話實錄： 圖片來源：圖蟲創意 時代財經：在衆多改革措施中，中央國家機關各部門縮編5%引發較多關注，有不少網友認爲削減編制或與財政緊張有關，你怎麼看？ 張燕生：當下確實存在不少理解誤區，把國務院機構改革縮減編制轉變職能加強協調認爲是爲了解決財政問題、節約錢，這完全是庸俗化的曲解。 放眼全球主要國家的資產負債狀況，中國國家資","text":"本文來源：時代財經 作者：餘思毅 國務院機構改革方案來了！ 3月7日，第十四屆全國人民代表大會舉行第二次全體會議，會議內容包括聽取國務委員兼國務院祕書長肖捷關於國務院機構改革方案的說明。 據肖捷介紹，國務院提請全國人大代表審議的《國務院機構改革方案的議案》（下簡稱“改革方案議案”）涉及機構調整等內容，調整後，除國務院辦公廳外，國務院設置組成部門仍爲26個。 究竟如何理解改革方案的出發點與改革思路？3月7日傍晚，時代財經專訪了中國國際經濟交流中心首席研究員、國家發改委對外經濟研究所原所長張燕生，其對改革方案議案進行了解讀。 改革方案議案提及，中央國家機關各部門人員編制統一按照5%的比例進行精減，收回的編制主要用於加強重點領域和重要工作。 張燕生指出，國務院機構改革縮減編制的出發點不是爲了解決財政問題、節約錢，“這是庸俗化的曲解“。此舉關鍵是提高國務院的機構公共服務的效率，減少改革阻力。 在張燕生看來，這次改革是把過去40年來，中央部委、央地之間和一些專業職能部門之間存在的交叉職責進行理順，是一個漸進式的改革。 張燕生以金融監管爲例子，改革方案把金融監管的部門之間，如人民銀行、金融監管機構、證監會之間的交叉監管理清，爲今後金融系統性和區域性風險的防範和化解奠定堅實基礎。 理順與整合的改革思路反映到科學技術領域是重新組建科學技術部。張燕生進一步指出，重組科學技術部的核心問題是在面對百年變局中，從戰略全局的角度出發，使得國家的科技戰略資源的整合能力更強。 以下爲對話實錄： 圖片來源：圖蟲創意 時代財經：在衆多改革措施中，中央國家機關各部門縮編5%引發較多關注，有不少網友認爲削減編制或與財政緊張有關，你怎麼看？ 張燕生：當下確實存在不少理解誤區，把國務院機構改革縮減編制轉變職能加強協調認爲是爲了解決財政問題、節約錢，這完全是庸俗化的曲解。 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| 鈦媒體深度","htmlText":"造車新勢力第二梯隊的生存之難已凸顯。 2023年開年，零跑汽車銷量罕見出現環比暴跌，根據官方數據，1月交付量僅爲爲1139輛，環比下降86.59%；2月最新銷量數據顯示也僅交付3198輛。而根據銷量數據更真實的第三方統計機構交強險的數據，零跑汽車1月的銷量僅爲618輛，而2022年12月還高達14846輛，環比降幅高達95.83%，爲新勢力環比降幅之最。 一個月3位數的成績，還要追溯到3年前的2020年5月。那時候，零跑汽車還陷在活下去的泥潭中——首款新車S01出師不利，第二款定位爲A00級純電小車的T03纔剛剛上市，前途未卜。 沒想到兩年多以後，當初的痛苦經歷再次找上門來，而且痛苦的程度比上一次更猛烈——上一次單月銷量在3位數時還只有S01一款車型，而這次在有4款車型同時在售的前提下依然取得了當初一款車的成績，可想而知這次零跑汽車的壓力有多大。 上一次，零跑依靠着T03這款純電小車走性價比的路線，艱難的活了下來。而這一次，零跑汽車欲意複製上一次的成功經驗，依舊採用性價比路線，想要走出當下的困境。 3月1日，零跑汽車一口氣發佈了4款新車，包括一款C11增程版全新車型和其他3款改款車型。而這3款改款車型的共同特點就是降價——C11純電版降價2～3萬元，C01降價4.4～5.8萬元，T03降價0.96～2.26萬元。 對於零跑此次打出的救市方案，一位在零跑汽車工作多年的行業人士告訴鈦媒體App，“零跑這次降價促銷，有點一把梭哈的意思，成不成在此一搏了。”但是他也判斷，“這次比較難。” 那麼，曾經宣稱“已渡過活下去危機”的零跑汽車，是如何又陷入到銷量危機的，這次又能否安全上岸？ 首款車出師不利，還遭用戶維權 2019年1月3日，零跑汽車首款新車S01宣佈上市，新車共提供NEDC續航里程分別爲300和380公里兩個版本，官方指導價爲18.99-22.99萬元，但綜合補貼後爲10.9","listText":"造車新勢力第二梯隊的生存之難已凸顯。 2023年開年，零跑汽車銷量罕見出現環比暴跌，根據官方數據，1月交付量僅爲爲1139輛，環比下降86.59%；2月最新銷量數據顯示也僅交付3198輛。而根據銷量數據更真實的第三方統計機構交強險的數據，零跑汽車1月的銷量僅爲618輛，而2022年12月還高達14846輛，環比降幅高達95.83%，爲新勢力環比降幅之最。 一個月3位數的成績，還要追溯到3年前的2020年5月。那時候，零跑汽車還陷在活下去的泥潭中——首款新車S01出師不利，第二款定位爲A00級純電小車的T03纔剛剛上市，前途未卜。 沒想到兩年多以後，當初的痛苦經歷再次找上門來，而且痛苦的程度比上一次更猛烈——上一次單月銷量在3位數時還只有S01一款車型，而這次在有4款車型同時在售的前提下依然取得了當初一款車的成績，可想而知這次零跑汽車的壓力有多大。 上一次，零跑依靠着T03這款純電小車走性價比的路線，艱難的活了下來。而這一次，零跑汽車欲意複製上一次的成功經驗，依舊採用性價比路線，想要走出當下的困境。 3月1日，零跑汽車一口氣發佈了4款新車，包括一款C11增程版全新車型和其他3款改款車型。而這3款改款車型的共同特點就是降價——C11純電版降價2～3萬元，C01降價4.4～5.8萬元，T03降價0.96～2.26萬元。 對於零跑此次打出的救市方案，一位在零跑汽車工作多年的行業人士告訴鈦媒體App，“零跑這次降價促銷，有點一把梭哈的意思，成不成在此一搏了。”但是他也判斷，“這次比較難。” 那麼，曾經宣稱“已渡過活下去危機”的零跑汽車，是如何又陷入到銷量危機的，這次又能否安全上岸？ 首款車出師不利，還遭用戶維權 2019年1月3日，零跑汽車首款新車S01宣佈上市，新車共提供NEDC續航里程分別爲300和380公里兩個版本，官方指導價爲18.99-22.99萬元，但綜合補貼後爲10.9","text":"造車新勢力第二梯隊的生存之難已凸顯。 2023年開年，零跑汽車銷量罕見出現環比暴跌，根據官方數據，1月交付量僅爲爲1139輛，環比下降86.59%；2月最新銷量數據顯示也僅交付3198輛。而根據銷量數據更真實的第三方統計機構交強險的數據，零跑汽車1月的銷量僅爲618輛，而2022年12月還高達14846輛，環比降幅高達95.83%，爲新勢力環比降幅之最。 一個月3位數的成績，還要追溯到3年前的2020年5月。那時候，零跑汽車還陷在活下去的泥潭中——首款新車S01出師不利，第二款定位爲A00級純電小車的T03纔剛剛上市，前途未卜。 沒想到兩年多以後，當初的痛苦經歷再次找上門來，而且痛苦的程度比上一次更猛烈——上一次單月銷量在3位數時還只有S01一款車型，而這次在有4款車型同時在售的前提下依然取得了當初一款車的成績，可想而知這次零跑汽車的壓力有多大。 上一次，零跑依靠着T03這款純電小車走性價比的路線，艱難的活了下來。而這一次，零跑汽車欲意複製上一次的成功經驗，依舊採用性價比路線，想要走出當下的困境。 3月1日，零跑汽車一口氣發佈了4款新車，包括一款C11增程版全新車型和其他3款改款車型。而這3款改款車型的共同特點就是降價——C11純電版降價2～3萬元，C01降價4.4～5.8萬元，T03降價0.96～2.26萬元。 對於零跑此次打出的救市方案，一位在零跑汽車工作多年的行業人士告訴鈦媒體App，“零跑這次降價促銷，有點一把梭哈的意思，成不成在此一搏了。”但是他也判斷，“這次比較難。” 那麼，曾經宣稱“已渡過活下去危機”的零跑汽車，是如何又陷入到銷量危機的，這次又能否安全上岸？ 首款車出師不利，還遭用戶維權 2019年1月3日，零跑汽車首款新車S01宣佈上市，新車共提供NEDC續航里程分別爲300和380公里兩個版本，官方指導價爲18.99-22.99萬元，但綜合補貼後爲10.9","images":[{"img":"https://static.tigerbbs.com/b04526b7544f4e4e90b58a3ca3b16bdc"},{"img":"https://static.tigerbbs.com/6ecf0b788671426fa25302e193d2dc18"},{"img":"https://static.tigerbbs.com/957acaceb1814b228d262dc86239bb0b"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/627606234","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":6,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":4928,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9054625272,"gmtCreate":1655385787196,"gmtModify":1676535627447,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Joo","listText":"Joo","text":"Joo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9054625272","repostId":"1152937866","repostType":4,"repost":{"id":"1152937866","kind":"news","pubTimestamp":1655383439,"share":"https://ttm.financial/m/news/1152937866?lang=en_US&edition=fundamental","pubTime":"2022-06-16 20:43","market":"us","language":"zh","title":"Bill Gates: Cryptocurrency vs. NFTs are \"nothing but a silly scam\"!","url":"https://stock-news.laohu8.com/highlight/detail?id=1152937866","media":"金十数据","summary":"相比之下，比尔·盖茨更青睐投资具有价值产出的资产。微软公司联合创始人比尔·盖茨表示，他认为加密货币和NFT是百分百基于“博傻理论”（greater fool theory）的骗局。“博傻理论”指的是“","content":"<p><html><head></head><body>Bill Gates, by contrast, prefers investing in assets with value output. Bill Gates, co-founder of Microsoft Corp., said he believes cryptocurrencies and NFTs are scams based 100 percent on the \"greater fool theory\".</p><p>The \"silly theory\" refers to the idea that \"because enough people are willing to pay high prices, overvalued assets will continue to rise\". Bill Gates, 66, the former richest man in the world, joked:</p><p>\"Obviously, expensive digital images of monkeys will cause a world change.\"<i>Note: \"Expensive Monkey Digital Avatar\" refers to the Bored Ape NFT (BAYC), which is built on the Ethereum (ETH) blockchain and its current price is $91,781 (76ETH) /NFT.</i></p><p>Bill Gates has gone to great lengths to bash cryptocurrencies for years. On June 14, at a TechCrunch event in Berkeley, California, Bill Gates pointed out that people buy cryptocurrencies and NFTs with the idea that it can sell again for a higher price, regardless of its current price, because \"there is always someone willing to pay more than me to take over.\"</p><p>Bill Gates says he has never been involved in the currency circle, neither in the long term nor in the short term. Other world-renowned investors and company executives, including Warren Buffett and Jamie Dimon (<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>CEO), are also skeptical of cryptocurrency. Buffett likened Bitcoin to \"rat poison squared\" in 2018.</p><p>NFTs, full name Non-Fungible Tokens, are digital credentials for purchasing blockchain goods such as art, digital music, and sneakers. Recently, after a surge in popularity, demand for NFTs seems to have stalled. And the actions of the Fed's aggressive rate hike have crushed high-risk bets in the whole financial market. As one of the most speculative products, NFT is doomed.</p><p>When talking about NFTs, Gates seems to have singled out the monkey NFTs in the Boring Ape NFT series.</p><p>Bill Gates says he prefers specific assets, like farms that have output, or companies that produce products.</p><p>Bill Gates's comments came as Bitcoin and other cryptocurrencies fell sharply as global markets trembled, erasing most of their Covid-era gains.</p><p>On June 15, the price in Bitcoin narrowly fell below $20,000. Since hitting an all-time high in November 2021, prices in Bitcoin have fallen by more than two-thirds. The currency circle is in the midst of the fourth big sell-off in its 13-year history.</p><p>Cryptocurrency companies that rose to fame due to the cryptocurrency investment boom have also suffered setbacks. Cryptocurrency exchange Coinbase Global Inc. has announced that it will lay off just 20% of its workforce; On the evening of June 12, Celsius Network LLC, one of the world's largest cryptocurrency lenders, told users that it was suspending all withdrawals, swaps and transfers between accounts due to extreme market conditions. Celsius has also hired a law firm to look into its restructuring options.</p><p></body></html></p>","source":"jssj","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>Bill Gates: Cryptocurrency vs. NFTs are \"nothing but a silly scam\"!</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\">\nBill Gates: Cryptocurrency vs. NFTs are \"nothing but a silly scam\"!\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">金十数据</strong><span class=\"h-time small\">2022-06-16 20:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Bill Gates, by contrast, prefers investing in assets with value output. Bill Gates, co-founder of Microsoft Corp., said he believes cryptocurrencies and NFTs are scams based 100 percent on the \"greater fool theory\".</p><p>The \"silly theory\" refers to the idea that \"because enough people are willing to pay high prices, overvalued assets will continue to rise\". Bill Gates, 66, the former richest man in the world, joked:</p><p>\"Obviously, expensive digital images of monkeys will cause a world change.\"<i>Note: \"Expensive Monkey Digital Avatar\" refers to the Bored Ape NFT (BAYC), which is built on the Ethereum (ETH) blockchain and its current price is $91,781 (76ETH) /NFT.</i></p><p>Bill Gates has gone to great lengths to bash cryptocurrencies for years. On June 14, at a TechCrunch event in Berkeley, California, Bill Gates pointed out that people buy cryptocurrencies and NFTs with the idea that it can sell again for a higher price, regardless of its current price, because \"there is always someone willing to pay more than me to take over.\"</p><p>Bill Gates says he has never been involved in the currency circle, neither in the long term nor in the short term. Other world-renowned investors and company executives, including Warren Buffett and Jamie Dimon (<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>CEO), are also skeptical of cryptocurrency. Buffett likened Bitcoin to \"rat poison squared\" in 2018.</p><p>NFTs, full name Non-Fungible Tokens, are digital credentials for purchasing blockchain goods such as art, digital music, and sneakers. Recently, after a surge in popularity, demand for NFTs seems to have stalled. And the actions of the Fed's aggressive rate hike have crushed high-risk bets in the whole financial market. As one of the most speculative products, NFT is doomed.</p><p>When talking about NFTs, Gates seems to have singled out the monkey NFTs in the Boring Ape NFT series.</p><p>Bill Gates says he prefers specific assets, like farms that have output, or companies that produce products.</p><p>Bill Gates's comments came as Bitcoin and other cryptocurrencies fell sharply as global markets trembled, erasing most of their Covid-era gains.</p><p>On June 15, the price in Bitcoin narrowly fell below $20,000. Since hitting an all-time high in November 2021, prices in Bitcoin have fallen by more than two-thirds. The currency circle is in the midst of the fourth big sell-off in its 13-year history.</p><p>Cryptocurrency companies that rose to fame due to the cryptocurrency investment boom have also suffered setbacks. Cryptocurrency exchange Coinbase Global Inc. has announced that it will lay off just 20% of its workforce; On the evening of June 12, Celsius Network LLC, one of the world's largest cryptocurrency lenders, told users that it was suspending all withdrawals, swaps and transfers between accounts due to extreme market conditions. Celsius has also hired a law firm to look into its restructuring options.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://xnews.jin10.com/details/95658\">金十数据</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f5f084842fb3799c40f34178d55cdc2f","relate_stocks":{".IXIC":"NASDAQ Composite","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4526":"热门中概股","BK4566":"资本集团","BK4176":"多领域控股","GBTC":"比特币ETF-Grayscale","BTCO":"比特币ETF-Invesco Galaxy","HODL":"比特币ETF-VanEck","SPY":"标普500ETF","BK4504":"桥水持仓","BK4550":"红杉资本持仓","BITB":"比特币ETF-Bitwise","DEFI":"比特币期货ETF-Hashdex","BK4170":"电脑硬件、储存设备及电脑周边","BTCW":"比特币ETF-Wisdom Tree","FBTC":"比特币ETF-Fidelity","JPM":"摩根大通","IBIT":"比特币ETF-iShares","EZBC":"比特币ETF-Franklin","BK4207":"综合性银行","EBON":"亿邦国际","BRK.B":"伯克希尔B","BK4581":"高盛持仓","BRK.A":"伯克希尔","BRRR":"比特币ETF-CoinShares","CAN":"嘉楠科技",".DJI":"道琼斯","ARKB":"比特币ETF-21Shares"},"source_url":"https://xnews.jin10.com/details/95658","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152937866","content_text":"相比之下，比尔·盖茨更青睐投资具有价值产出的资产。微软公司联合创始人比尔·盖茨表示，他认为加密货币和NFT是百分百基于“博傻理论”（greater fool theory）的骗局。“博傻理论”指的是“因为有足够多的人愿意支付高价，被高估的资产将继续上涨”的理念。现年66岁的前世界首富比尔·盖茨开玩笑说：“显然，昂贵的猴子数字图像将引发世界巨变。”注：“昂贵的猴子数字头像”指无聊猿NFT（BAYC），该NFT建立在以太坊（ETH）区块链上，其当前价格为91781美元（76ETH）/NFT。多年来，比尔·盖茨一直不遗余力地抨击加密货币。6月14日，在加州州伯克利举行TechCrunch活动上，比尔·盖茨指出，人们购买加密货币和NFT的想法是：无论其现价如何，它都可以再次卖出更高价，因为“总有人情愿比我花更多钱接盘”。比尔·盖茨说，他从未涉足过币圈，无论是长期还是短期。其他全球知名的投资者和公司高管，包括“股神”巴菲特和杰米·戴蒙（摩根大通CEO），也均对加密货币持怀疑态度。巴菲特曾在2018年将比特币比作“老鼠药的平方（rat poison squared）。NFT，全称非同质化代币（Non-Fungible Tokens）是购买艺术品、数字音乐和运动鞋等区块链商品的数字凭证。在人气飙升之后，最近，对NFT的需求似乎陷入停滞。而美联储激进加息的行动粉碎了整个金融市场的高风险押注，作为最具投机性的产品之一，NFT在劫难逃。在谈及NFT时，盖茨似乎单单拎出了无聊猿NFT系列中的猴子NFT。比尔·盖茨说，他更喜欢具体的资产，比如有产出的农场，或生产产品的公司。在比尔·盖茨发表上述言论之际，随着全球市场巨震，比特币和其他加密货币大幅下跌，抹去了新冠疫情以来的大部分涨幅。6月15日，比特币的价格险些跌破20000美元。自2021年11月创下历史新高以来，比特币的价格已经下跌了三分之二以上。币圈正值13年历史上第四次大抛售。因加密货币投资热潮的声名鹊起的加密货币公司也纷纷受挫。加密货币交易所Coinbase Global Inc.宣布其将裁员仅20%；6月12日晚间，全球最大的加密货币贷方之一Celsius Network LLC告诉用户称，由于极端的市场条件，该公司正在暂停账户之间的所有提款、掉期和转账。Celsius还聘请了一家律师事务所来研究其重组方案。","news_type":1,"symbols_score_info":{"ARKB":1,"JPM":0.9,"XBTmain":0.9,"BTCW":1,"EZBC":1,"BRK.A":0.9,"BITB":1,"BTCO":1,"BTCmain":0.9,"DEFI":1,"HODL":1,"BRRR":1,"CAN":0.9,"EBON":0.9,"FBTC":1,"IBIT":1,"GBTC":1,"SPY":0.9,".DJI":0.9,".IXIC":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":5610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9022379254,"gmtCreate":1653484864078,"gmtModify":1676535290161,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Yi","listText":"Yi","text":"Yi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022379254","repostId":"9022995256","repostType":1,"repost":{"id":9022995256,"gmtCreate":1653451806675,"gmtModify":1676535285220,"author":{"id":"3558908080415665","authorId":"3558908080415665","name":"Alvin Chow","avatar":"https://static.tigerbbs.com/2abf7014742f3e282e9781e945db75b0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3558908080415665","idStr":"3558908080415665"},"themes":[],"title":"Oh Snap! Social media stocks again","htmlText":"As though the market was not bearish enough, Snap announced it was likely to miss its 2Q2022 revenue guidance out of a sudden.The announcement sent Snap's share price down 43% in a day. It is now trading 25% below its IPO price, but still higher than the Covid low.Snap wasn't selfish, it dragged down other social media stocks too. Misery loves company.Social media share price 1-day % change:Alphabet -5%Twitter -6%Yelp -6%Meta Platforms -8%Roblox -10%Pinterest -24%The big question is - are these stocks good buys now?Let's look at their P/S ratios vs their 5-year averages:Yelp: 2.1x vs 3.2x (-34%)Meta: 4.6x vs 10x (-54%)Alphabet: 5.6x vs 6.7x (-16%)Twitter: 5.7x vs 8.7x (-34%)Snap: 8.1x vs 20.7x (-61%)Roblox: 8.4xAll are trading below their 5-year averages with Meta and Snap having the steep","listText":"As though the market was not bearish enough, Snap announced it was likely to miss its 2Q2022 revenue guidance out of a sudden.The announcement sent Snap's share price down 43% in a day. It is now trading 25% below its IPO price, but still higher than the Covid low.Snap wasn't selfish, it dragged down other social media stocks too. Misery loves company.Social media share price 1-day % change:Alphabet -5%Twitter -6%Yelp -6%Meta Platforms -8%Roblox -10%Pinterest -24%The big question is - are these stocks good buys now?Let's look at their P/S ratios vs their 5-year averages:Yelp: 2.1x vs 3.2x (-34%)Meta: 4.6x vs 10x (-54%)Alphabet: 5.6x vs 6.7x (-16%)Twitter: 5.7x vs 8.7x (-34%)Snap: 8.1x vs 20.7x (-61%)Roblox: 8.4xAll are trading below their 5-year averages with Meta and Snap having the steep","text":"As though the market was not bearish enough, Snap announced it was likely to miss its 2Q2022 revenue guidance out of a sudden.The announcement sent Snap's share price down 43% in a day. It is now trading 25% below its IPO price, but still higher than the Covid low.Snap wasn't selfish, it dragged down other social media stocks too. Misery loves company.Social media share price 1-day % change:Alphabet -5%Twitter -6%Yelp -6%Meta Platforms -8%Roblox -10%Pinterest -24%The big question is - are these stocks good buys now?Let's look at their P/S ratios vs their 5-year averages:Yelp: 2.1x vs 3.2x (-34%)Meta: 4.6x vs 10x (-54%)Alphabet: 5.6x vs 6.7x (-16%)Twitter: 5.7x vs 8.7x (-34%)Snap: 8.1x vs 20.7x (-61%)Roblox: 8.4xAll are trading below their 5-year averages with Meta and Snap having the steep","images":[],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022995256","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":7128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9087324872,"gmtCreate":1650959935743,"gmtModify":1676534823359,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Ah ah HJ","listText":"Ah ah HJ","text":"Ah ah HJ","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087324872","repostId":"9084677757","repostType":1,"repost":{"id":9084677757,"gmtCreate":1650863954379,"gmtModify":1676534805884,"author":{"id":"4102650540659720","authorId":"4102650540659720","name":"Big Cat","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4102650540659720","idStr":"4102650540659720"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/ADBE\">$Adobe(ADBE)$</a>... I&nbsp;has been curious about it for awhile now. I knows Adobe is good[Like]&nbsp;, but for some reasons I keeps forgetting to add it into my favourite list, hahaha[Facepalm]&nbsp;.Today, I finally remembered to add it into my favourite list[Grin]&nbsp;.$Adobe(ADBE)$ &nbsp;is basically a needs in this world. It's considered one of the best of the best software out there[Grin]&nbsp;. I know this because I'm someone who is quite interested in computing &amp; those interesting software[Surprised]&nbsp;.After seeing those cool 😎 ppls making amazing videos out there, I also wonder to myself 🤔 , how they make them [Doubt]&nbsp;.And I got my answer = \"After Effects\" (AE) is the best software recommended.However, I then realised that u ne","listText":"<a href=\"https://ttm.financial/S/ADBE\">$Adobe(ADBE)$</a>... I&nbsp;has been curious about it for awhile now. I knows Adobe is good[Like]&nbsp;, but for some reasons I keeps forgetting to add it into my favourite list, hahaha[Facepalm]&nbsp;.Today, I finally remembered to add it into my favourite list[Grin]&nbsp;.$Adobe(ADBE)$ &nbsp;is basically a needs in this world. It's considered one of the best of the best software out there[Grin]&nbsp;. I know this because I'm someone who is quite interested in computing &amp; those interesting software[Surprised]&nbsp;.After seeing those cool 😎 ppls making amazing videos out there, I also wonder to myself 🤔 , how they make them [Doubt]&nbsp;.And I got my answer = \"After Effects\" (AE) is the best software recommended.However, I then realised that u ne","text":"$Adobe(ADBE)$... I has been curious about it for awhile now. I knows Adobe is good[Like] , but for some reasons I keeps forgetting to add it into my favourite list, hahaha[Facepalm] .Today, I finally remembered to add it into my favourite list[Grin] .$Adobe(ADBE)$ is basically a needs in this world. It's considered one of the best of the best software out there[Grin] . I know this because I'm someone who is quite interested in computing & those interesting software[Surprised] .After seeing those cool 😎 ppls making amazing videos out there, I also wonder to myself 🤔 , how they make them [Doubt] .And I got my answer = \"After Effects\" (AE) is the best software recommended.However, I then realised that u ne","images":[],"top":1,"highlighted":2,"essential":2,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084677757","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":4507,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9087324330,"gmtCreate":1650959888255,"gmtModify":1676534823336,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Goofing&nbsp;","listText":"Goofing&nbsp;","text":"Goofing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087324330","repostId":"2230112012","repostType":4,"isVote":1,"tweetType":1,"viewCount":5888,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887579969,"gmtCreate":1632088190251,"gmtModify":1676530695870,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/FICO\">$Fair Isaac Corp(FICO)$</a>patience&nbsp;","listText":"<a href=\"https://laohu8.com/S/FICO\">$Fair Isaac Corp(FICO)$</a>patience&nbsp;","text":"$Fair Isaac Corp(FICO)$patience","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":16,"repostSize":0,"link":"https://ttm.financial/post/887579969","repostId":"353293745","repostType":1,"repost":{"id":353293745,"gmtCreate":1616498223087,"gmtModify":1704794867322,"author":{"id":"3436310715787496","authorId":"3436310715787496","name":"金思汇闻","avatar":"https://static.tigerbbs.com/569b7e391b67b52cb16b8b7a3531f1be","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3436310715787496","idStr":"3436310715787496"},"themes":[],"title":"FICO，一個有價值觀的偉大企業(十年十倍股系列五)","htmlText":"我們現在看到的那些強大而受人尊重的公司，大多是因爲公司不僅在商業取得成功，而且在改變人類生活方式和推動社會進步上取得的巨大成就從而引發人們的關注。美國的<a target=\"_blank\" href=\"https://laohu8.com/S/AAPL\">$蘋果(AAPL)$</a>&nbsp;蘋果，&nbsp;微軟，谷歌，亞馬遜，中國的阿里，<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$騰訊控股(00700)$</a>&nbsp;騰訊，無不如此。然而在美國也有這麼一家公司對於全球金融系統有着至關重要影響的公司，但公司的市值僅僅不到摩根大通的4%，阿里巴巴的2%，貴州茅臺的4%。這家公司就是Fair Isaac Corporation，也就是大家常說的<a target=\"_blank\" href=\"https://laohu8.com/S/FICO\">$Fair Isaac Corp(FICO)$</a>&nbsp;FICO。公司背景1956年，工程師 Bill Fair和數學家Earl Isaac在三藩市創立了Fair Isaac Corporation（FICO），公司在1958年推了世界第一款個人信用積分系統，通過與美國三大徵信公司的數據合作（EQUIFAX、EXPERIAN、TRANSUNION），公司將個人的信用相關的活動作爲輸入，通過獨有的算法，將每個人的信用轉化成一個3位數的積分，積分從300到850分不等，積分越高就說明你的信用越好。對於一個注重個人信用的商業社會來講，高信用的價值不言而喻。在70年代，FICO起步的年代裏，美國的種族歧視尤爲嚴重，銀行對於金融服務的對象往往會有着天生的偏見。FICO推出的個人信用積分系統，極大的降低了金融服務的種族歧視，促進了社會的進步。而FICO積分在金融領域","listText":"我們現在看到的那些強大而受人尊重的公司，大多是因爲公司不僅在商業取得成功，而且在改變人類生活方式和推動社會進步上取得的巨大成就從而引發人們的關注。美國的<a target=\"_blank\" href=\"https://laohu8.com/S/AAPL\">$蘋果(AAPL)$</a>&nbsp;蘋果，&nbsp;微軟，谷歌，亞馬遜，中國的阿里，<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$騰訊控股(00700)$</a>&nbsp;騰訊，無不如此。然而在美國也有這麼一家公司對於全球金融系統有着至關重要影響的公司，但公司的市值僅僅不到摩根大通的4%，阿里巴巴的2%，貴州茅臺的4%。這家公司就是Fair Isaac Corporation，也就是大家常說的<a target=\"_blank\" href=\"https://laohu8.com/S/FICO\">$Fair Isaac Corp(FICO)$</a>&nbsp;FICO。公司背景1956年，工程師 Bill Fair和數學家Earl Isaac在三藩市創立了Fair Isaac Corporation（FICO），公司在1958年推了世界第一款個人信用積分系統，通過與美國三大徵信公司的數據合作（EQUIFAX、EXPERIAN、TRANSUNION），公司將個人的信用相關的活動作爲輸入，通過獨有的算法，將每個人的信用轉化成一個3位數的積分，積分從300到850分不等，積分越高就說明你的信用越好。對於一個注重個人信用的商業社會來講，高信用的價值不言而喻。在70年代，FICO起步的年代裏，美國的種族歧視尤爲嚴重，銀行對於金融服務的對象往往會有着天生的偏見。FICO推出的個人信用積分系統，極大的降低了金融服務的種族歧視，促進了社會的進步。而FICO積分在金融領域","text":"我們現在看到的那些強大而受人尊重的公司，大多是因爲公司不僅在商業取得成功，而且在改變人類生活方式和推動社會進步上取得的巨大成就從而引發人們的關注。美國的$蘋果(AAPL)$ 蘋果， 微軟，谷歌，亞馬遜，中國的阿里，$騰訊控股(00700)$ 騰訊，無不如此。然而在美國也有這麼一家公司對於全球金融系統有着至關重要影響的公司，但公司的市值僅僅不到摩根大通的4%，阿里巴巴的2%，貴州茅臺的4%。這家公司就是Fair Isaac Corporation，也就是大家常說的$Fair Isaac Corp(FICO)$ FICO。公司背景1956年，工程師 Bill Fair和數學家Earl Isaac在三藩市創立了Fair Isaac Corporation（FICO），公司在1958年推了世界第一款個人信用積分系統，通過與美國三大徵信公司的數據合作（EQUIFAX、EXPERIAN、TRANSUNION），公司將個人的信用相關的活動作爲輸入，通過獨有的算法，將每個人的信用轉化成一個3位數的積分，積分從300到850分不等，積分越高就說明你的信用越好。對於一個注重個人信用的商業社會來講，高信用的價值不言而喻。在70年代，FICO起步的年代裏，美國的種族歧視尤爲嚴重，銀行對於金融服務的對象往往會有着天生的偏見。FICO推出的個人信用積分系統，極大的降低了金融服務的種族歧視，促進了社會的進步。而FICO積分在金融領域","images":[{"img":"https://static.tigerbbs.com/2816c88d7e37a752d58b1325bb475cb8","width":"335","height":"159"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/353293745","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":9,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":6864,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887839346,"gmtCreate":1632015252585,"gmtModify":1676530686310,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/GTEK\">$Goldman Sachs Future Tech Leaders Equity ETF(GTEK)$</a>hood or not","listText":"<a href=\"https://laohu8.com/S/GTEK\">$Goldman Sachs Future Tech Leaders Equity ETF(GTEK)$</a>hood or not","text":"$Goldman Sachs Future Tech Leaders Equity ETF(GTEK)$hood or not","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/887839346","repostId":"1109542809","repostType":4,"isVote":1,"tweetType":1,"viewCount":5015,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887331727,"gmtCreate":1631972782969,"gmtModify":1676530680513,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"This is good","listText":"This is good","text":"This is good","images":[{"img":"https://static.tigerbbs.com/db2ecb7c6bc2a02d30dde92a1f48a649","width":"1125","height":"3094"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":1,"commentSize":16,"repostSize":0,"link":"https://ttm.financial/post/887331727","isVote":1,"tweetType":1,"viewCount":5344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":813799732,"gmtCreate":1630243132826,"gmtModify":1676530249776,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":1,"commentSize":14,"repostSize":0,"link":"https://ttm.financial/post/813799732","repostId":"1184815007","repostType":2,"isVote":1,"tweetType":1,"viewCount":6047,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837787058,"gmtCreate":1629928710574,"gmtModify":1676530172098,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/ULTA\">$Ulta Salon(ULTA)$</a>US10 away from prediction of 420","listText":"<a href=\"https://laohu8.com/S/ULTA\">$Ulta Salon(ULTA)$</a>US10 away from prediction of 420","text":"$Ulta Salon(ULTA)$US10 away from prediction of 420","images":[{"img":"https://static.tigerbbs.com/ed95cfe34c8c28db58037b670551988a","width":"1242","height":"2151"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":2,"commentSize":14,"repostSize":0,"link":"https://ttm.financial/post/837787058","isVote":1,"tweetType":1,"viewCount":3988,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":895745436,"gmtCreate":1628775848125,"gmtModify":1676529850780,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/ULTA\">$Ulta Salon(ULTA)$</a>420 in 3 weeks","listText":"<a href=\"https://laohu8.com/S/ULTA\">$Ulta Salon(ULTA)$</a>420 in 3 weeks","text":"$Ulta Salon(ULTA)$420 in 3 weeks","images":[{"img":"https://static.tigerbbs.com/9e4fdca68bab9599b54eb6ac4e827bd2","width":"1242","height":"2151"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/895745436","isVote":1,"tweetType":1,"viewCount":2345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":125355948,"gmtCreate":1624660215984,"gmtModify":1703842852543,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Sell when high?&nbsp;","listText":"Sell when high?&nbsp;","text":"Sell when high?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/125355948","repostId":"2146026823","repostType":4,"isVote":1,"tweetType":1,"viewCount":1996,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120122862,"gmtCreate":1624316293356,"gmtModify":1703833068367,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Good for 700","listText":"Good for 700","text":"Good for 700","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/120122862","repostId":"1102555489","repostType":4,"isVote":1,"tweetType":1,"viewCount":2026,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165651647,"gmtCreate":1624138258089,"gmtModify":1703829196427,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Very good performance&nbsp;","listText":"Very good performance&nbsp;","text":"Very good performance","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":2,"commentSize":17,"repostSize":0,"link":"https://ttm.financial/post/165651647","repostId":"2144702770","repostType":4,"repost":{"id":"2144702770","kind":"highlight","pubTimestamp":1624244088,"share":"https://ttm.financial/m/news/2144702770?lang=en_US&edition=fundamental","pubTime":"2021-06-21 10:54","market":"hk","language":"zh","title":"An 18-fold increase in 10 years! Did you miss out on the generous dividends in tech stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=2144702770","media":"新浪财经综合","summary":"港股科技股市值近10年来呈井喷之势，恒生资讯科技业指数市值由10年前（2011年6月）不足1万亿元，10年间暴增1800%至超17万亿元，并一举超过恒生金融业指数15.73万亿元的市值的市值，雄踞港股","content":"<p>The market capitalization of Hong Kong technology stocks has exploded in the past 10 years. The market capitalization of the Hang Seng Information Technology Index has increased by 1800% from less than HK$1 trillion 10 years ago (June 2011) to over HK$17 trillion in 10 years, and has surpassed the Hang Seng Financial Index's market capitalization of HK$15.73 trillion, ranking first among all industries in the Hong Kong stock market!</p><p>The Hong Kong stock market is expanding steadily overall.</p><p>Changes in market capitalization of the three major heavyweight industry indices in Hong Kong stocks over the past 10 years (see the chart below).<img src=\"https://static.tigerbbs.com/6da34a6fd16e9aaad4a45a0705a50187\" tg-width=\"549\" tg-height=\"419\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>At the same time, the total market capitalization of the Hong Kong stock market increased from approximately HK$20 trillion 10 years ago to over HK$50 trillion.</p><p><img src=\"https://static.tigerbbs.com/623fb4d1a2b1422cabfb3a7f8c65af7c\" tg-width=\"796\" tg-height=\"690\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>The main reason for the market capitalization growth is the significant expansion of Hong Kong-listed companies, with the number of listed companies increasing from 1,448 10 years ago to nearly 2,600 today. Meanwhile, the Hang Seng Index, which was once dominated by financial and real estate stocks, has seen relatively limited gains, rising by only about 20% over the past decade.</p><p>The number of companies listed on the Hong Kong Stock Exchange is shown in the figure below.</p><p><img src=\"https://static.tigerbbs.com/3cc6565025f2f3abf895088cfcf29da7\" tg-width=\"789\" tg-height=\"223\" referrerpolicy=\"no-referrer\"></p><p>Looking at the market capitalization ratio of various industry indices, the proportion of the Hang Seng Information Technology Index (accounting for the total market capitalization of companies included in the Hang Seng series industry indices) has increased explosively from 3% in June 2011 to the latest 25%!</p><p>Old economic sectors are sluggish</p><p>Finance, real estate, and energy, three heavyweight sectors of the established economy, have significantly underperformed the market, and energy is no longer even a heavyweight sector.</p><p><img src=\"https://static.tigerbbs.com/546bcd2e116e4cc22cdd0cf3edebf61d\" tg-width=\"584\" tg-height=\"472\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/5dd31eaef02347d31d36a54b4594ed2a\" tg-width=\"562\" tg-height=\"522\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>The Hang Seng Financial Industries Index has increased from 11 trillion yuan 10 years ago to less than 16 trillion yuan lately. However, the proportion of the Hang Seng Financial Index declined significantly, from 46% to 25%, making it the sector with the largest decline.</p><p>Hong Kong heavyweight stocks such as Changshi and Sun Hung Kai Properties<a href=\"https://laohu8.com/S/01972\">Swire Properties</a>、<a href=\"https://laohu8.com/S/00017\">New World development</a>The real estate index, which is clustered together, also performed weakly, with its market capitalization share dropping from 10% to 9%.</p><p>In addition, the sluggish oil prices over the past 10 years have also caused the market capitalization of the Hang Seng Energy Index to decline from HK$4.8 trillion to HK$2.1 trillion. Instead of increasing in the past 10 years, it has been halved, and its market capitalization share has dropped sharply from 18% to 3%.<img src=\"https://static.tigerbbs.com/4b27148417ef1d600426d51d4c161bda\" tg-width=\"537\" tg-height=\"431\" referrerpolicy=\"no-referrer\"></p><p>The Choice of the Times and the Reform of the Hong Kong Stock</p><p>The past 10 years can be considered a golden decade for Chinese technology companies, with Alibaba,<a href=\"https://laohu8.com/S/00700\">Tencent</a>Both giants have experienced explosive growth, with their market capitalizations increasing to behemoths in the 5 trillion yuan range. Meituan and Xiaomi were unknown ten years ago, but Meituan has become a technology leader with a market value of nearly 2 trillion yuan, and Xiaomi has grown into a smart home ecosystem leader with a market value of 700 billion yuan.<a href=\"https://laohu8.com/S/JD\">JD.com</a>From years of losses to now stable profitability, its market capitalization has reached trillions of yuan.<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/NTES\">NetEase</a>While slightly less impressive than the explosive growth of the first decade of this century, it has made steady progress and lived up to the expectations of the times.</p><p>The strong development of the short video industry in recent years has created Kuaishou,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Waiting for the rise of leading video companies. In addition, according to media reports in April this year, ByteDance has submitted an underwriter appointment letter to the Hong Kong Stock Exchange and initiated the process of listing in Hong Kong, with a valuation of US$400 billion. ByteDance, a phenomenal blockbuster company, will be listed on the Hong Kong Stock Exchange in the near future, and there is still considerable room for growth in the market capitalization of Hong Kong-listed technology stocks.</p><p><img src=\"https://static.tigerbbs.com/2e3dfd73fe60381e50e44793dfc84464\" tg-width=\"570\" tg-height=\"412\" referrerpolicy=\"no-referrer\">On one hand, the times have brought substantial dividends to technology stocks; on the other hand, the Hong Kong Stock Exchange has learned from its mistakes and is reforming itself.</p><p>The Hong Kong Stock Exchange missed in 2014<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Later, at the end of 2017, it finally made its biggest change in more than 20 years - allowing the dual-class share structure and the listing of unprofitable biological companies.</p><p>It is no exaggeration to say that 2018 marked the beginning of a new era for Hong Kong stocks. A large number of leading tech companies that had previously missed out on Hong Kong stocks have chosen to list in Hong Kong for a secondary period, including established tech giants such as Alibaba, Baidu, JD.com, and NetEase. This also led newcomers such as Meituan, Xiaomi, and Kuaishou to choose Hong Kong as their initial public offering location. The Hong Kong stock market has become an indispensable market for investing in China's technology industry!</p>","source":"highlight_sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>An 18-fold increase in 10 years! Did you miss out on the generous dividends in tech stocks?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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\">\nAn 18-fold increase in 10 years! Did you miss out on the generous dividends in tech stocks?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经综合</strong><span class=\"h-time small\">2021-06-21 10:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The market capitalization of Hong Kong technology stocks has exploded in the past 10 years. The market capitalization of the Hang Seng Information Technology Index has increased by 1800% from less than HK$1 trillion 10 years ago (June 2011) to over HK$17 trillion in 10 years, and has surpassed the Hang Seng Financial Index's market capitalization of HK$15.73 trillion, ranking first among all industries in the Hong Kong stock market!</p><p>The Hong Kong stock market is expanding steadily overall.</p><p>Changes in market capitalization of the three major heavyweight industry indices in Hong Kong stocks over the past 10 years (see the chart below).<img src=\"https://static.tigerbbs.com/6da34a6fd16e9aaad4a45a0705a50187\" tg-width=\"549\" tg-height=\"419\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>At the same time, the total market capitalization of the Hong Kong stock market increased from approximately HK$20 trillion 10 years ago to over HK$50 trillion.</p><p><img src=\"https://static.tigerbbs.com/623fb4d1a2b1422cabfb3a7f8c65af7c\" tg-width=\"796\" tg-height=\"690\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>The main reason for the market capitalization growth is the significant expansion of Hong Kong-listed companies, with the number of listed companies increasing from 1,448 10 years ago to nearly 2,600 today. Meanwhile, the Hang Seng Index, which was once dominated by financial and real estate stocks, has seen relatively limited gains, rising by only about 20% over the past decade.</p><p>The number of companies listed on the Hong Kong Stock Exchange is shown in the figure below.</p><p><img src=\"https://static.tigerbbs.com/3cc6565025f2f3abf895088cfcf29da7\" tg-width=\"789\" tg-height=\"223\" referrerpolicy=\"no-referrer\"></p><p>Looking at the market capitalization ratio of various industry indices, the proportion of the Hang Seng Information Technology Index (accounting for the total market capitalization of companies included in the Hang Seng series industry indices) has increased explosively from 3% in June 2011 to the latest 25%!</p><p>Old economic sectors are sluggish</p><p>Finance, real estate, and energy, three heavyweight sectors of the established economy, have significantly underperformed the market, and energy is no longer even a heavyweight sector.</p><p><img src=\"https://static.tigerbbs.com/546bcd2e116e4cc22cdd0cf3edebf61d\" tg-width=\"584\" tg-height=\"472\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/5dd31eaef02347d31d36a54b4594ed2a\" tg-width=\"562\" tg-height=\"522\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>The Hang Seng Financial Industries Index has increased from 11 trillion yuan 10 years ago to less than 16 trillion yuan lately. However, the proportion of the Hang Seng Financial Index declined significantly, from 46% to 25%, making it the sector with the largest decline.</p><p>Hong Kong heavyweight stocks such as Changshi and Sun Hung Kai Properties<a href=\"https://laohu8.com/S/01972\">Swire Properties</a>、<a href=\"https://laohu8.com/S/00017\">New World development</a>The real estate index, which is clustered together, also performed weakly, with its market capitalization share dropping from 10% to 9%.</p><p>In addition, the sluggish oil prices over the past 10 years have also caused the market capitalization of the Hang Seng Energy Index to decline from HK$4.8 trillion to HK$2.1 trillion. Instead of increasing in the past 10 years, it has been halved, and its market capitalization share has dropped sharply from 18% to 3%.<img src=\"https://static.tigerbbs.com/4b27148417ef1d600426d51d4c161bda\" tg-width=\"537\" tg-height=\"431\" referrerpolicy=\"no-referrer\"></p><p>The Choice of the Times and the Reform of the Hong Kong Stock</p><p>The past 10 years can be considered a golden decade for Chinese technology companies, with Alibaba,<a href=\"https://laohu8.com/S/00700\">Tencent</a>Both giants have experienced explosive growth, with their market capitalizations increasing to behemoths in the 5 trillion yuan range. Meituan and Xiaomi were unknown ten years ago, but Meituan has become a technology leader with a market value of nearly 2 trillion yuan, and Xiaomi has grown into a smart home ecosystem leader with a market value of 700 billion yuan.<a href=\"https://laohu8.com/S/JD\">JD.com</a>From years of losses to now stable profitability, its market capitalization has reached trillions of yuan.<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/NTES\">NetEase</a>While slightly less impressive than the explosive growth of the first decade of this century, it has made steady progress and lived up to the expectations of the times.</p><p>The strong development of the short video industry in recent years has created Kuaishou,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Waiting for the rise of leading video companies. In addition, according to media reports in April this year, ByteDance has submitted an underwriter appointment letter to the Hong Kong Stock Exchange and initiated the process of listing in Hong Kong, with a valuation of US$400 billion. ByteDance, a phenomenal blockbuster company, will be listed on the Hong Kong Stock Exchange in the near future, and there is still considerable room for growth in the market capitalization of Hong Kong-listed technology stocks.</p><p><img src=\"https://static.tigerbbs.com/2e3dfd73fe60381e50e44793dfc84464\" tg-width=\"570\" tg-height=\"412\" referrerpolicy=\"no-referrer\">On one hand, the times have brought substantial dividends to technology stocks; on the other hand, the Hong Kong Stock Exchange has learned from its mistakes and is reforming itself.</p><p>The Hong Kong Stock Exchange missed in 2014<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Later, at the end of 2017, it finally made its biggest change in more than 20 years - allowing the dual-class share structure and the listing of unprofitable biological companies.</p><p>It is no exaggeration to say that 2018 marked the beginning of a new era for Hong Kong stocks. A large number of leading tech companies that had previously missed out on Hong Kong stocks have chosen to list in Hong Kong for a secondary period, including established tech giants such as Alibaba, Baidu, JD.com, and NetEase. This also led newcomers such as Meituan, Xiaomi, and Kuaishou to choose Hong Kong as their initial public offering location. The Hong Kong stock market has become an indispensable market for investing in China's technology industry!</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-06-19/doc-ikqcfnca1890926.shtml\">新浪财经综合</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/753c9aba3202037bc97463c545d5d015","relate_stocks":{"HSI":"恒生指数"},"source_url":"https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-06-19/doc-ikqcfnca1890926.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2144702770","content_text":"港股科技股市值近10年来呈井喷之势，恒生资讯科技业指数市值由10年前（2011年6月）不足1万亿元，10年间暴增1800%至超17万亿元，并一举超过恒生金融业指数15.73万亿元的市值的市值，雄踞港股各行业市值榜首！\n港股市场整体稳步扩张\n港股三大权重行业指数10年来市值变化（见下图）。数据来源：Wind\n与此同时，港股主板总市值由10年前的约20万亿港元增至超50万亿港元。\n数据来源：Wind\n市值增长的主要原因是港股上市公司的大幅扩张，上市公司数量由10年前的1448家增至现今的近2600家。于此同时，曾以金融、地产股为主的恒生指数涨幅则相对有限，十年间仅有约20%。\n港股上市公司数量，如下图所示。\n\n从各行业指数市值占比来看，恒生资讯科技业指数比重（占入选恒生系列行业指数的公司总市值）由2011年6月的3%爆发式增至最新的25%！\n老经济板块低迷\n金融、地产、能源这三个权重老经济板块，则明显跑输市场，甚至能源已不再是一个权重板块。\n数据来源：Wind\n恒生金融业指数由10年前的11万亿元增至最新的不足16万亿元。但恒生金融业指数比重则下滑明显，由占比46%下滑至25%，是下滑幅度最大的行业。\n香港本地重磅股长实、新鸿基、太古地产、新世界发展等扎堆的地产指数也表现较弱，市值占比从10%降至9%。\n此外，近10年油价的低迷也导致恒生能源业指数市值由4.8万亿元下滑至2.1万亿元，10年来不增反而腰斩，市值比重由18%大幅下滑至3%。\n时代选择与港交所自身改革\n近10年，可以说是中国科技公司的黄金10年，阿里、腾讯双雄爆发式成长，市值均增长至5万亿量级的庞然大物。美团、小米十年前尚名不见经传，但美团已成为市值近2万亿的科技龙头，小米也成长至市值7000亿的智能家居生态龙头。京东从连年亏损到如今稳定盈利，市值达到万亿量级。百度、网易稍逊风骚，虽不如本世纪前十年的爆发式增长，也稳扎稳打不负时代所托。\n近几年的短视频行业强势发展，造就了快手、哔哩哔哩等视频龙头的崛起。此外，据媒体今年4月报道称，字节跳动已向港交所提交了承销商聘用函，启动了赴港上市流程，估值达4000亿美元。字节跳动这一现象级重磅公司在不久的未来将登陆港股，未来港股科技股市值仍有相当增长空间。\n一边是时代给了科技股丰厚的红利，另外一边则是港交所痛定思痛，自身改革。\n港交所在2014年错失阿里巴巴后，最终在2017年末做出了其二十多年来最大的变革——放行同股不同权架构和尚未盈利的生物公司上市。\n毫不夸张的说，从2018年起，对港股来说是一个全新时代的开启。大批此前无缘港股的科技龙头在香港选择二次上市，其中包括阿里巴巴、百度、京东、网易等老牌科技龙头。也让新贵美团、小米、快手等选择香港作为首次上市地点。现今的港股市场，已是投资中国科技行业不可或缺的市场！","news_type":1,"symbols_score_info":{"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":2352,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3581755931051558","authorId":"3581755931051558","name":"AhCSL","avatar":"https://static.tigerbbs.com/e339eef227c28073a8900c75adf5f329","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3581755931051558","idStr":"3581755931051558"},"content":"Any suggestion?","text":"Any suggestion?","html":"Any suggestion?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168557535,"gmtCreate":1623979386127,"gmtModify":1703825302513,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/HFC\">$HollyFrontier(HFC)$</a> can buy now?","listText":"<a href=\"https://laohu8.com/S/HFC\">$HollyFrontier(HFC)$</a> can buy now?","text":"$HollyFrontier(HFC)$ can buy now?","images":[{"img":"https://static.tigerbbs.com/7374462ad90b13e8c14b25b41f99831b","width":"1125","height":"3395"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":3,"commentSize":20,"repostSize":1,"link":"https://ttm.financial/post/168557535","isVote":1,"tweetType":1,"viewCount":2803,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"content":"Let me check the chart","text":"Let me check the chart","html":"Let me check the chart"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":161273395,"gmtCreate":1623931995517,"gmtModify":1703823789555,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Is this good","listText":"Is this good","text":"Is this good","images":[{"img":"https://static.tigerbbs.com/e9c594715ac6585ee92d2ea08c36342d","width":"1125","height":"3150"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/161273395","isVote":1,"tweetType":1,"viewCount":2306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":114731077,"gmtCreate":1623104753499,"gmtModify":1704195963856,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Read","listText":"Read","text":"Read","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":2,"commentSize":18,"repostSize":0,"link":"https://ttm.financial/post/114731077","repostId":"2141823276","repostType":4,"repost":{"id":"2141823276","kind":"highlight","pubTimestamp":1623080428,"share":"https://ttm.financial/m/news/2141823276?lang=en_US&edition=fundamental","pubTime":"2021-06-07 23:40","market":"us","language":"zh","title":"Bank of America: Some Investment Patterns in US Stocks Since 1928","url":"https://stock-news.laohu8.com/highlight/detail?id=2141823276","media":"华尔街见闻","summary":"目前市场对于美股是否“过度繁荣”的讨论非常热烈，有投资者担心美股或因美联储政策变化而出现大规模调整。\n美国银行试图从历史数据中寻找线索。该行统计显示，自1928年的月度数据表明传统“5月卖出”的股市谚","content":"<p>There is currently a heated discussion in the market about whether the US stock market is \"overprosperous,\" with some investors worried that the US stock market may experience a large-scale correction due to changes in the Federal Reserve's policies.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Trying to find clues from historical data. The bank's statistics show that monthly data since 1928 indicates that the traditional stock market adage of \"selling in May\" is not true, and US stocks are likely to experience a summer rally.</p><p><h2>The stock market proverb \"sell in May\" does not hold true</h2>Bank of America stated that monthly data since 1928 shows that the traditional \"May sell\" strategy does not hold true, and the S&P 500 is likely to experience a summer rally.</p><p><b>From a monthly perspective, although the return in May was negative, it was an excellent monthly buying opportunity.</b>The average return in June was approximately 0.77%; The average return in July was 1.58%, the highest of the year; The return in August was also quite good, averaging 0.7%.</p><p>September was the weakest month of the year, with an average return of -1.03%.<img src=\"https://static.tigerbbs.com/ffef396fe83da8fb05a1fcf928aca356\" tg-width=\"1095\" tg-height=\"760\" referrerpolicy=\"no-referrer\"></p><p>The \"presidential rally\" also confirms the pattern of the summer rally in US stocks.</p><p><b>Statistics show that in the first year of a new US president's term, large-scale rebounds in US stocks are typically concentrated in July and August.</b>The probability of a rise in July reached 65%, with a historical average return of 2.28%. September and October were relatively weak months.</p><p><img src=\"https://static.tigerbbs.com/0ac31bf82d51f9dc069f81cb79ee98d7\" tg-width=\"1103\" tg-height=\"790\" referrerpolicy=\"no-referrer\"></p><p><h2>The cross-month pattern also reflects the summer upward trend.</h2>From a monthly perspective, Bank of America statistics show that June-August was the second best-performing three months of the year, with a 65% probability of an increase and an average return of 3.18%. The weakest three months of the year are August to October, with a 55% probability of an increase, but an average return of only -0.03%.</p><p><img src=\"https://static.tigerbbs.com/b723af01581079a022899a5dacf947ed\" tg-width=\"1119\" tg-height=\"816\" referrerpolicy=\"no-referrer\"></p><p>August to October are the three weakest months of the year.<b>This means that there is a risk of a correction in US stocks in the fall.</b><img src=\"https://static.tigerbbs.com/9b56d223976b66649f0adb71a21b3cce\" tg-width=\"1106\" tg-height=\"802\" referrerpolicy=\"no-referrer\"></p><p><h2>The first 10 trading days of a month yield higher returns</h2>In terms of short-swing trading, monthly data since 1928 shows that<b>The market tends to perform better in the first 10 trading days of a month than in the last 10 trading days (except in December).</b><img src=\"https://static.tigerbbs.com/2d0204fb5c8b49191b3a1d854be72a01\" tg-width=\"1097\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p><b>June and July are the months when the relevant patterns are most obvious.</b>The average probability of an increase in the first 10 trading days of June was 59%, with an average return of 0.71%, and the probability of an increase in the last 10 trading days was 47%, with an average return of -0.01%. The probability of an increase in the first 10 trading days of July is 68%, with an average return of 1.53%, and the probability of an increase in the last 10 trading days is 59%, with an average return of -0.02%.<img src=\"https://static.tigerbbs.com/ea32f3689760a04aa567b8b1c2daaaa1\" tg-width=\"1094\" tg-height=\"827\" referrerpolicy=\"no-referrer\"></p><p><h2>The rebound in US stocks may continue.</h2>Bank of America emphasized that the Bloomberg U.S. Financial Conditions Index has reached a new high, which is precisely the leading indicator for the S&P 500's record high. This may indicate that the market will continue to rise.<img src=\"https://static.tigerbbs.com/9d72ba609108e876b7927dd14251dae4\" tg-width=\"1096\" tg-height=\"751\" referrerpolicy=\"no-referrer\">Bank of America predicts that if the indicator continues to rise, the S&P 500 is expected to gain further upward momentum and move towards the 4,400-4,500 point range.<img src=\"https://static.tigerbbs.com/9c480d60762f6cae516e86860cf3bbbc\" tg-width=\"1112\" tg-height=\"749\" referrerpolicy=\"no-referrer\"></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank of America: Some Investment Patterns in US Stocks Since 1928</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\">\nBank of America: Some Investment Patterns in US Stocks Since 1928\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-07 23:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There is currently a heated discussion in the market about whether the US stock market is \"overprosperous,\" with some investors worried that the US stock market may experience a large-scale correction due to changes in the Federal Reserve's policies.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Trying to find clues from historical data. The bank's statistics show that monthly data since 1928 indicates that the traditional stock market adage of \"selling in May\" is not true, and US stocks are likely to experience a summer rally.</p><p><h2>The stock market proverb \"sell in May\" does not hold true</h2>Bank of America stated that monthly data since 1928 shows that the traditional \"May sell\" strategy does not hold true, and the S&P 500 is likely to experience a summer rally.</p><p><b>From a monthly perspective, although the return in May was negative, it was an excellent monthly buying opportunity.</b>The average return in June was approximately 0.77%; The average return in July was 1.58%, the highest of the year; The return in August was also quite good, averaging 0.7%.</p><p>September was the weakest month of the year, with an average return of -1.03%.<img src=\"https://static.tigerbbs.com/ffef396fe83da8fb05a1fcf928aca356\" tg-width=\"1095\" tg-height=\"760\" referrerpolicy=\"no-referrer\"></p><p>The \"presidential rally\" also confirms the pattern of the summer rally in US stocks.</p><p><b>Statistics show that in the first year of a new US president's term, large-scale rebounds in US stocks are typically concentrated in July and August.</b>The probability of a rise in July reached 65%, with a historical average return of 2.28%. September and October were relatively weak months.</p><p><img src=\"https://static.tigerbbs.com/0ac31bf82d51f9dc069f81cb79ee98d7\" tg-width=\"1103\" tg-height=\"790\" referrerpolicy=\"no-referrer\"></p><p><h2>The cross-month pattern also reflects the summer upward trend.</h2>From a monthly perspective, Bank of America statistics show that June-August was the second best-performing three months of the year, with a 65% probability of an increase and an average return of 3.18%. The weakest three months of the year are August to October, with a 55% probability of an increase, but an average return of only -0.03%.</p><p><img src=\"https://static.tigerbbs.com/b723af01581079a022899a5dacf947ed\" tg-width=\"1119\" tg-height=\"816\" referrerpolicy=\"no-referrer\"></p><p>August to October are the three weakest months of the year.<b>This means that there is a risk of a correction in US stocks in the fall.</b><img src=\"https://static.tigerbbs.com/9b56d223976b66649f0adb71a21b3cce\" tg-width=\"1106\" tg-height=\"802\" referrerpolicy=\"no-referrer\"></p><p><h2>The first 10 trading days of a month yield higher returns</h2>In terms of short-swing trading, monthly data since 1928 shows that<b>The market tends to perform better in the first 10 trading days of a month than in the last 10 trading days (except in December).</b><img src=\"https://static.tigerbbs.com/2d0204fb5c8b49191b3a1d854be72a01\" tg-width=\"1097\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p><b>June and July are the months when the relevant patterns are most obvious.</b>The average probability of an increase in the first 10 trading days of June was 59%, with an average return of 0.71%, and the probability of an increase in the last 10 trading days was 47%, with an average return of -0.01%. The probability of an increase in the first 10 trading days of July is 68%, with an average return of 1.53%, and the probability of an increase in the last 10 trading days is 59%, with an average return of -0.02%.<img src=\"https://static.tigerbbs.com/ea32f3689760a04aa567b8b1c2daaaa1\" tg-width=\"1094\" tg-height=\"827\" referrerpolicy=\"no-referrer\"></p><p><h2>The rebound in US stocks may continue.</h2>Bank of America emphasized that the Bloomberg U.S. Financial Conditions Index has reached a new high, which is precisely the leading indicator for the S&P 500's record high. This may indicate that the market will continue to rise.<img src=\"https://static.tigerbbs.com/9d72ba609108e876b7927dd14251dae4\" tg-width=\"1096\" tg-height=\"751\" referrerpolicy=\"no-referrer\">Bank of America predicts that if the indicator continues to rise, the S&P 500 is expected to gain further upward momentum and move towards the 4,400-4,500 point range.<img src=\"https://static.tigerbbs.com/9c480d60762f6cae516e86860cf3bbbc\" tg-width=\"1112\" tg-height=\"749\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3632326\">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/271cfa4439cda1437f20c9b60f7c187d","relate_stocks":{"BAC":"美国银行"},"source_url":"https://wallstreetcn.com/articles/3632326","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141823276","content_text":"目前市场对于美股是否“过度繁荣”的讨论非常热烈，有投资者担心美股或因美联储政策变化而出现大规模调整。\n美国银行试图从历史数据中寻找线索。该行统计显示，自1928年的月度数据表明传统“5月卖出”的股市谚语并不成立，美股大概率将经历夏季上涨行情。\n“5月卖出”的股市谚语并不成立\n美国银行表示，自1928年的月度数据显示，传统的“5月卖出”的策略并不成立，标普500指数大概率经历夏季上涨行情。\n从月份角度，5月回报率虽然为负但是绝佳的阶段性月度买点：6月的平均回报率约为0.77%；7月的平均回报率为1.58%，为全年最高；8月的回报率也相当不错，平均达到0.7%。\n9月才是全年表现最弱的月度，平均回报率为-1.03%。\n“总统行情”也确认美股夏季行情的规律。\n统计显示在美国新总统上任的第1年，美股的大规模反弹通常集中在7—8月：7月相关上涨概率达到65%，历史平均回报率达到2.28%。9-10月份则是相对疲弱的月份。\n\n跨月规律也显示夏季上涨规律\n在跨月角度，美国银行统计显示，6—8月是全年中表现第2好的3个月，相关上涨概率达到65%，平均回报率达到3.18%；1年中最弱的3个月是8月至10月，上涨概率为55%，但平均回报率仅为—0.03%\n\n而8月—10月则是全年中最弱的3个月，这意味着美股存在秋季回调的风险。\n单月中的头10个交易日回报率更高\n在短线交易方面，自1928年的月度数据显示，单月的前10个交易日市场表现往往比后10个交易日更强（12月除外）。\n6、7月份是相关规律显示最为明显的月份。6月前10个交易日平均上涨概率为59%，平均回报率为0.71%，后10个交易日上涨概率为47%，平均回报率为—0.01%。7月前10个交易日上涨概率为68%，平均回报率为1.53%，后10个交易日上涨概率59%，平均回报率为-0.02%。\n美股反弹或将继续延续\n美国银行强调，目前彭博美国金融状况指数突破新高，而这恰恰是标普500指突破新高的领先性指标。这或许暗示市场将继续上行。美国银行预测认为，如果该指标继续上行，标普500指数有望获得进一步上涨动能，向4400—4500点区间迈进。","news_type":1,"symbols_score_info":{"BAC":0.9}},"isVote":1,"tweetType":1,"viewCount":2680,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114667375,"gmtCreate":1623073069097,"gmtModify":1704195465715,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/114667375","repostId":"2141004294","repostType":4,"repost":{"id":"2141004294","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":1622959849,"share":"https://ttm.financial/m/news/2141004294?lang=en_US&edition=fundamental","pubTime":"2021-06-06 14:10","market":"hk","language":"zh","title":"410 billion yuan! CATL is facing a massive lifting of lock-up restrictions; can it weather the storm safely?","url":"https://stock-news.laohu8.com/highlight/detail?id=2141004294","media":"老虎资讯综合","summary":"近日，成立十年的宁德时代迎来了其发展中的一次里程碑式跨越。6月5日，宁德时代股份盘中一度达到439.5元/股的历史最高值，最终收盘于432.21元/股，市值再度突破万亿元。此前不久的5月31日，该公司","content":"<p>Recently, CATL, which has been established for ten years, ushered in a milestone leap in its development.</p><p>On June 5, CATL reached a historical high of 439.5 yuan per share during trading, and finally closed at 432.21 yuan per share, with its market capitalization once again exceeding one trillion yuan. On May 31, the company's stock price surged by more than 6% on high volume, and its market value exceeded one trillion yuan for the first time, becoming a new giant in the A-share \"trillion-yuan\" market value club with its technology manufacturing attributes.</p><p><img src=\"https://static.tigerbbs.com/fcb210468635fa704b49b71271c28929\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>However, just as the market was applauding and celebrating CATL, some people saw a \"bubble\".</p><p>On the same day, Morgan Stanley downgraded CATL's rating to \"underweight\" with a target price of only 251 yuan, which is equivalent to a 40% discount to the current stock price of more than 400 yuan.</p><p>Coincidentally, as early as November 2020, Morgan Stanley downgraded CATL's stock rating from overweight to equal weight. The reason given at the time was that the medium-term prospects of new energy batteries had been basically reflected in the stock price, and whether global automakers could launch new models that were popular with the market might not be verified until next year.</p><p>Is it too high or too low? Can CATL, which has reached the \"summit,\" still catch up? For investors, there are at least three hidden dangers that require attention.</p><p><b>/ 01 /</b></p><p><b>Profitability is on a downward trend.</b></p><p>As a leader in the power battery industry, CATL has benefited from the high prosperity of the industry and the high valuation premium given to leading companies by the market. Since its listing, it has enjoyed the treatment of being \"favored\" by institutions, and its stock price has continued to rise.</p><p>Looking at the daily chart, it can be seen that from its listing on the ChiNext board on June 11, 2018, to June 4, 2021, the company's stock price has generally shown a rapid upward trend. Compared to its initial offering price of 25.14 yuan per share, CATL's stock price has increased by 1592% in the past three years.</p><p>However, despite the soaring stock price, CATL's profitability continues to decline.</p><p>In 2020, the company sold 44.45 GWh of power battery systems, a year-on-year increase of 10.43%, generating revenue of RMB 39.426 billion, a year-on-year increase of 2.18%. The fact that revenue growth is slower than sales growth indicates that product prices are declining.</p><p>On the other hand, due to rising commodity prices since the second half of 2020, CATL's main raw materials, lithium carbonate and cobalt, have both seen increases of more than 20%, increasing cost control pressure.</p><p>A slight increase in revenue and a significant increase in costs put some pressure on profits. In 2020, CATL's gross profit margin was 27.76%, a decrease of 1.3 percentage points compared to 29.06% in 2019.</p><p>Node Finance's review of financial reports revealed that this is not the first time CATL's gross profit margin has declined. In fact, since its listing, CATL's gross profit margin has remained on a downward trend.</p><p><img src=\"https://static.tigerbbs.com/221a2154223564669e02d5c5d597485c\" tg-width=\"550\" tg-height=\"392\" referrerpolicy=\"no-referrer\">Data source: CATL financial report, Eastmoney choice</p><p>As shown in the chart above, from 2016 to 2020, the company's gross profit margin decreased from 43.7% to 27.76%, a decrease of 15.94 percentage points in five years. Compared to the situation before the listing, the company's gross profit margin increased from 25.73% to 43.7% from 2014 to 2016, and its profitability differed significantly before and after the listing.</p><p>In response, CATL also stated in its financial report that if factors such as intensified market competition or industry policy adjustments cause adverse changes in the company's product prices and raw material procurement prices in the future, the company's gross profit margin risks declining.</p><p>In the first quarter of 2021, the company's gross profit margin was 27.28%, an increase of 2.19 percentage points compared with the same period of the previous year. It has not yet recovered to the gross profit margin level of the first quarter of 2019 before the outbreak of the pandemic, but it decreased by 1.08 percentage points quarter-on-quarter.</p><p>At the same time, the company's ability to return to shareholders has weakened, with its weighted return on equity (ROE) decreasing from 69.55% in 2016 to 11.27% in 2020.</p><p>However, none of this seems to have affected the capital market's enthusiasm for CATL, with its valuation soaring like a wild horse.</p><p><b>/ 02 /</b></p><p><b>Valuations are \"galloping\"</b></p><p>Based on CATL's net profit of 1.954 billion yuan in the first quarter of this year, CATL's corresponding rolling P/E is 149 times, which is the highest value in history; Based on a net profit of 5.583 billion yuan in 2020, CATL's static P/E is 179 times, which is also the highest value in history.</p><p>Even according to the consensus earnings forecasts given by securities firms, the company's net profit in 2023 is expected to be 20 billion yuan, corresponding to a 51-fold P/E, which is still a figure within the 5-year valuation central range.</p><p>Considering the performance, from 2016 to 2020, in five years, CATL's net profit increased by less than double from 2.852 billion yuan to 5.583 billion yuan, while P/E increased by nearly 7 times from about 23 times to 179 times at the beginning of its listing. Obviously, the valuation is running faster, or rather, there is a possibility of prematurely depleting the valuation.</p><p>In 2020, the company's net profit growth rate was only 22.43% year-on-year, but riding the wave of Tesla, coupled with the release of medium- and long-term plans for the new energy industry and the concept of carbon neutrality, its stock price soared from more than 100 yuan to more than 350 yuan this year, an increase of more than 200%.</p><p>Compared to its peers, CATL's valuation is not cheap. Take its old rival BYD as an example. In 2020, its net profit was 4.234 billion yuan, its market value was about 530 billion yuan, and its static P/E was 125 times, which was significantly lower than that of CATL. Then look at Panasonic. In 2020, its net profit was equivalent to approximately RMB 10.27 billion, with a static P/E of 22 times. Compared with CATL, it is really as low as dust.</p><p>Even worse, even if we include the three major automakers with the highest market capitalization in the A-share market—BYD, Great Wall Motors, and SAIC Motor—with a combined market capitalization of 1.0881 trillion yuan, CATL's single-handed achievement of a trillion-yuan market capitalization is quite impressive.</p><p>Node Finance believes that since the new energy industry is in a growth stage, CATL's leading position in scale expansion makes it easier to highlight the market share agglomeration effect, resulting in a long-term and long-term development potential.</p><p>According to statistics from South Korean research firm SNEResearch, global electric vehicle battery sales reached 65.9 GWh from January to April this year, with CATL accounting for 32.5% of the market share.</p><p>However, as a major consumer good, automobiles are characterized by low consumption frequency and are not essential needs. This, to some extent, determines that the industry enters a mature stage faster than general consumer goods such as mobile phones and home appliances, and the increase in demand is limited. As the growth rate of shipments in the industrial chain slows down, how much valuation room does CATL still have to overdraw?</p><p>Recently, both Shanghai Securities and Caixin Securities gave CATL a \"cautious overweight\" or \"cautious buy\" rating.</p><p><b>/ 03 /</b></p><p><b>The upcoming wave of lock-up lifting</b></p><p>For short-term investors, CATL's upcoming wave of lock-up releases on June 10th requires particular vigilance.</p><p>As of now, CATL's stock price is 432.21 yuan per share, with a total market capitalization of 1.0068 trillion yuan, making it the first trillion-yuan market capitalization stock on the ChiNext board. The market value of 411.629 billion yuan released from lock-up accounts for 40.88% of CATL's total market value. After the lock-up period expires next week, CATL's circulating shares will increase by 70.18%.</p><p>The shares of CATL that were released from lock-up on June 10 came from five shareholders: Ruiting Investment, Huang Shilin, Li Ping, Dongpeng Weichuang Investment, Lvlianjun, and Industrial M&A Equity Investment Fund Partnership. As of the end of the first quarter of 2021, Ruiting Investment, Huang Shilin, and Li Ping were the first, second, and fifth largest shareholders of CATL, respectively. Among the five shareholders of CATL whose shares will have their lock-up periods released next week, Ruiting Investment has a market value of 247 billion yuan, Huang Shilin has a market value of 112.764 billion yuan, Li Ping has a market value of 48.386 billion yuan, and the other two shareholders have a market value of less than 2 billion yuan.</p><p>Ruiting Investment is the controlling shareholder of CATL, wholly owned by Zeng Yuqun, the founder and chairman of CATL. Huang Shilin and Li Ping are the co-founders and vice chairmen of CATL, with Li Ping and Zeng Yuqun acting in concert.</p><p><b>Detailed information on the lifting of lock-up restrictions on</b></p><p><img src=\"https://static.tigerbbs.com/da24316a386ec8301036b6c656dfc6e0\" tg-width=\"1024\" tg-height=\"281\" referrerpolicy=\"no-referrer\">Generally speaking, the lifting of lock-up periods will create expectations of shareholders reducing their holdings, forcing short-term pressure on the stock price, which is a major negative factor for retail investors.</p><p>So, with the massive release of lock-up shares, can CATL stand firm at the trillion-yuan market capitalization threshold?</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>410 billion yuan! CATL is facing a massive lifting of lock-up restrictions; can it weather the storm safely?</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\">\n410 billion yuan! CATL is facing a massive lifting of lock-up restrictions; can it weather the storm safely?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-06 14:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Recently, CATL, which has been established for ten years, ushered in a milestone leap in its development.</p><p>On June 5, CATL reached a historical high of 439.5 yuan per share during trading, and finally closed at 432.21 yuan per share, with its market capitalization once again exceeding one trillion yuan. On May 31, the company's stock price surged by more than 6% on high volume, and its market value exceeded one trillion yuan for the first time, becoming a new giant in the A-share \"trillion-yuan\" market value club with its technology manufacturing attributes.</p><p><img src=\"https://static.tigerbbs.com/fcb210468635fa704b49b71271c28929\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>However, just as the market was applauding and celebrating CATL, some people saw a \"bubble\".</p><p>On the same day, Morgan Stanley downgraded CATL's rating to \"underweight\" with a target price of only 251 yuan, which is equivalent to a 40% discount to the current stock price of more than 400 yuan.</p><p>Coincidentally, as early as November 2020, Morgan Stanley downgraded CATL's stock rating from overweight to equal weight. The reason given at the time was that the medium-term prospects of new energy batteries had been basically reflected in the stock price, and whether global automakers could launch new models that were popular with the market might not be verified until next year.</p><p>Is it too high or too low? Can CATL, which has reached the \"summit,\" still catch up? For investors, there are at least three hidden dangers that require attention.</p><p><b>/ 01 /</b></p><p><b>Profitability is on a downward trend.</b></p><p>As a leader in the power battery industry, CATL has benefited from the high prosperity of the industry and the high valuation premium given to leading companies by the market. Since its listing, it has enjoyed the treatment of being \"favored\" by institutions, and its stock price has continued to rise.</p><p>Looking at the daily chart, it can be seen that from its listing on the ChiNext board on June 11, 2018, to June 4, 2021, the company's stock price has generally shown a rapid upward trend. Compared to its initial offering price of 25.14 yuan per share, CATL's stock price has increased by 1592% in the past three years.</p><p>However, despite the soaring stock price, CATL's profitability continues to decline.</p><p>In 2020, the company sold 44.45 GWh of power battery systems, a year-on-year increase of 10.43%, generating revenue of RMB 39.426 billion, a year-on-year increase of 2.18%. The fact that revenue growth is slower than sales growth indicates that product prices are declining.</p><p>On the other hand, due to rising commodity prices since the second half of 2020, CATL's main raw materials, lithium carbonate and cobalt, have both seen increases of more than 20%, increasing cost control pressure.</p><p>A slight increase in revenue and a significant increase in costs put some pressure on profits. In 2020, CATL's gross profit margin was 27.76%, a decrease of 1.3 percentage points compared to 29.06% in 2019.</p><p>Node Finance's review of financial reports revealed that this is not the first time CATL's gross profit margin has declined. In fact, since its listing, CATL's gross profit margin has remained on a downward trend.</p><p><img src=\"https://static.tigerbbs.com/221a2154223564669e02d5c5d597485c\" tg-width=\"550\" tg-height=\"392\" referrerpolicy=\"no-referrer\">Data source: CATL financial report, Eastmoney choice</p><p>As shown in the chart above, from 2016 to 2020, the company's gross profit margin decreased from 43.7% to 27.76%, a decrease of 15.94 percentage points in five years. Compared to the situation before the listing, the company's gross profit margin increased from 25.73% to 43.7% from 2014 to 2016, and its profitability differed significantly before and after the listing.</p><p>In response, CATL also stated in its financial report that if factors such as intensified market competition or industry policy adjustments cause adverse changes in the company's product prices and raw material procurement prices in the future, the company's gross profit margin risks declining.</p><p>In the first quarter of 2021, the company's gross profit margin was 27.28%, an increase of 2.19 percentage points compared with the same period of the previous year. It has not yet recovered to the gross profit margin level of the first quarter of 2019 before the outbreak of the pandemic, but it decreased by 1.08 percentage points quarter-on-quarter.</p><p>At the same time, the company's ability to return to shareholders has weakened, with its weighted return on equity (ROE) decreasing from 69.55% in 2016 to 11.27% in 2020.</p><p>However, none of this seems to have affected the capital market's enthusiasm for CATL, with its valuation soaring like a wild horse.</p><p><b>/ 02 /</b></p><p><b>Valuations are \"galloping\"</b></p><p>Based on CATL's net profit of 1.954 billion yuan in the first quarter of this year, CATL's corresponding rolling P/E is 149 times, which is the highest value in history; Based on a net profit of 5.583 billion yuan in 2020, CATL's static P/E is 179 times, which is also the highest value in history.</p><p>Even according to the consensus earnings forecasts given by securities firms, the company's net profit in 2023 is expected to be 20 billion yuan, corresponding to a 51-fold P/E, which is still a figure within the 5-year valuation central range.</p><p>Considering the performance, from 2016 to 2020, in five years, CATL's net profit increased by less than double from 2.852 billion yuan to 5.583 billion yuan, while P/E increased by nearly 7 times from about 23 times to 179 times at the beginning of its listing. Obviously, the valuation is running faster, or rather, there is a possibility of prematurely depleting the valuation.</p><p>In 2020, the company's net profit growth rate was only 22.43% year-on-year, but riding the wave of Tesla, coupled with the release of medium- and long-term plans for the new energy industry and the concept of carbon neutrality, its stock price soared from more than 100 yuan to more than 350 yuan this year, an increase of more than 200%.</p><p>Compared to its peers, CATL's valuation is not cheap. Take its old rival BYD as an example. In 2020, its net profit was 4.234 billion yuan, its market value was about 530 billion yuan, and its static P/E was 125 times, which was significantly lower than that of CATL. Then look at Panasonic. In 2020, its net profit was equivalent to approximately RMB 10.27 billion, with a static P/E of 22 times. Compared with CATL, it is really as low as dust.</p><p>Even worse, even if we include the three major automakers with the highest market capitalization in the A-share market—BYD, Great Wall Motors, and SAIC Motor—with a combined market capitalization of 1.0881 trillion yuan, CATL's single-handed achievement of a trillion-yuan market capitalization is quite impressive.</p><p>Node Finance believes that since the new energy industry is in a growth stage, CATL's leading position in scale expansion makes it easier to highlight the market share agglomeration effect, resulting in a long-term and long-term development potential.</p><p>According to statistics from South Korean research firm SNEResearch, global electric vehicle battery sales reached 65.9 GWh from January to April this year, with CATL accounting for 32.5% of the market share.</p><p>However, as a major consumer good, automobiles are characterized by low consumption frequency and are not essential needs. This, to some extent, determines that the industry enters a mature stage faster than general consumer goods such as mobile phones and home appliances, and the increase in demand is limited. As the growth rate of shipments in the industrial chain slows down, how much valuation room does CATL still have to overdraw?</p><p>Recently, both Shanghai Securities and Caixin Securities gave CATL a \"cautious overweight\" or \"cautious buy\" rating.</p><p><b>/ 03 /</b></p><p><b>The upcoming wave of lock-up lifting</b></p><p>For short-term investors, CATL's upcoming wave of lock-up releases on June 10th requires particular vigilance.</p><p>As of now, CATL's stock price is 432.21 yuan per share, with a total market capitalization of 1.0068 trillion yuan, making it the first trillion-yuan market capitalization stock on the ChiNext board. The market value of 411.629 billion yuan released from lock-up accounts for 40.88% of CATL's total market value. After the lock-up period expires next week, CATL's circulating shares will increase by 70.18%.</p><p>The shares of CATL that were released from lock-up on June 10 came from five shareholders: Ruiting Investment, Huang Shilin, Li Ping, Dongpeng Weichuang Investment, Lvlianjun, and Industrial M&A Equity Investment Fund Partnership. As of the end of the first quarter of 2021, Ruiting Investment, Huang Shilin, and Li Ping were the first, second, and fifth largest shareholders of CATL, respectively. Among the five shareholders of CATL whose shares will have their lock-up periods released next week, Ruiting Investment has a market value of 247 billion yuan, Huang Shilin has a market value of 112.764 billion yuan, Li Ping has a market value of 48.386 billion yuan, and the other two shareholders have a market value of less than 2 billion yuan.</p><p>Ruiting Investment is the controlling shareholder of CATL, wholly owned by Zeng Yuqun, the founder and chairman of CATL. Huang Shilin and Li Ping are the co-founders and vice chairmen of CATL, with Li Ping and Zeng Yuqun acting in concert.</p><p><b>Detailed information on the lifting of lock-up restrictions on</b></p><p><img src=\"https://static.tigerbbs.com/da24316a386ec8301036b6c656dfc6e0\" tg-width=\"1024\" tg-height=\"281\" referrerpolicy=\"no-referrer\">Generally speaking, the lifting of lock-up periods will create expectations of shareholders reducing their holdings, forcing short-term pressure on the stock price, which is a major negative factor for retail investors.</p><p>So, with the massive release of lock-up shares, can CATL stand firm at the trillion-yuan market capitalization threshold?</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0a520115dfc7edeb93cc3cdf6a15df14","relate_stocks":{"300750":"宁德时代"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141004294","content_text":"近日，成立十年的宁德时代迎来了其发展中的一次里程碑式跨越。6月5日，宁德时代股份盘中一度达到439.5元/股的历史最高值，最终收盘于432.21元/股，市值再度突破万亿元。此前不久的5月31日，该公司股价放量大涨超过6％，市值首次破万亿，成为以科技制造业属性跻身A股“万亿”市值俱乐部的新巨头。不过，就在市场为宁德时代“拍手庆贺”的空档，有人却看到了“泡沫”。同一天，摩根士丹利将宁德时代评级下调至“低配”，目标价仅为251元，相当于给目前400多元的股价直接打了六折。无独有偶，早在2020年11月，大摩就曾将宁德时代的股票评级从超配下调至平配，当时给出的理由是，新能源电池的中期前景已基本反应在股价中，而且全球的汽车厂能否推出受市场欢迎的新车型情况可能要到明年才能被验证。究竟是高了还是低了？站上“山顶”的宁德时代还能不能追？对于投资者来说，至少有三重隐患是需要关注的。/ 01 /盈利能力处在下行通道作为动力电池行业的龙头，受益于行业景气度高，市场给予头部公司较高的估值溢价，宁德时代自上市以来便享受到了被机构“团宠”的待遇，簇拥其股价不断上扬。拉长日线可见，从2018年6月11日登陆创业板开始，截止2021年6月4日，公司股价整体呈快速上升趋势。相较上市之初25.14元/股的发行价，宁德时代近三年的股价涨幅达到1592%。但在股价节节走高的背后，宁德时代的盈利能力却在持续下滑。2020年，公司销售动力电池系统44.45GWh，同比增长10.43%，带来收入394.26亿元，同比增长2.18%。收入增速不及销量增速，说明产品价格在下降。另一边，囿于2020年下半年以来大宗商品涨价，宁德时代主要生产原材料中碳酸锂及钴涨幅都超过20%，成本控制压力加大。收入微涨，成本大增，对利润造成一定挤压，2020年宁德时代的毛利率为27.76%，同比2019年的29.06%减少1.3个百分点。节点财经查阅财报发现，这并不是宁德时代毛利率初次下滑。事实上，自上市后，宁德时代的毛利率便一直停留在下行通道。数据来源：宁德时代财报、东方财富choice如上图所示，2016年至2020年，公司毛利率从43.7%下降至27.76%，五年少赚15.94个百分点。对比上市前的状态，2014年至2016年，公司毛利率从25.73%提升到43.7%，其盈利能力在上市前后分化明显。对此，宁德时代也在财报中表示，若未来市场竞争加剧或行业政策调整等因素使得公司产品售价及原材料采购价格发生不利变化，公司毛利率存在下降的风险。2021年一季度，公司毛利率为27.28%，较上年同期增加2.19个百分点，尚未恢复到疫情发生前2019年一季度毛利率水平，环比则减少1.08个百分点。于此同时，公司对股东的回报能力趋弱，其加权净资产收益率（ROE）从2016年的69.55%下降至2020年11.27%。不过，这似乎都没有影响到资本市场对宁德时代的追捧，估值如脱缰的野马一路飞奔。/ 02 /估值“策马狂奔”按照今年一季度净利润19.54亿元计算，宁德时代对应的滚动市盈率为149倍，处于历史最高值；按照2020年净利润55.83亿元计算，宁德时代对应的静态市盈率为179倍，同样处于历史最高值。即使按照券商给出的一致业绩预测，公司2023年净利润预计为200亿，对应51倍市盈率，这仍是一个处在5年估值中枢区间内的数值。结合业绩，2016年-2020年，五年时间，宁德时代净利润从28.52亿元到55.83亿元，涨了不到1 倍，市盈率从上市之初约23倍到179倍，涨了接近7倍，显然估值跑的更快，或者说有提前消耗估值的可能。2020年，公司净利润同比增速不过22.43%，但搭上特斯拉的“顺风车”，叠加新能源产业中长期规划发布，碳中和概念等，其年内股价从100多元狂飙到350多元，涨幅超过200%。对比同行，宁德时代的估值更是不便宜。就拿老对手比亚迪来说，2020年净利润42.34亿元，市值约5300亿元，静态市盈率125倍，显著低于宁德时代；再看看松下，2020年净利润折合人民币约102.7亿元，静态市盈率22倍，和宁德时代一比，真的要低到尘埃里了。更甚者，就算拉来目前A股市值最高的三大主车厂，比亚迪、长城汽车和上汽集团，三者合计市值10881亿元，宁德时代以一人之力创出万亿市值，相当彪悍。节点财经认为，由于新能源行业正处在成长期，宁德时代以龙头地位下的规模扩张优势，较容易凸显出市占率聚集效应，导致发展空间被看远、看久。韩国研究机构SNEResearch统计，今年1-4月，全球电动汽车电池销量65.9Gwh，其中宁德时代占有32.5%的份额。然而，作为大宗消费品，汽车具有消费频次低，非刚需等特点，这又在一定程度上决定了该行业进入成熟期的速度要快于手机、家电等一般消费品，且需求增量有限，随着产业链出货量增速放缓，宁德时代还有多少估值空间可以透支？近期，上海证券、财信证券均给予宁德时代“谨慎增持”或“谨慎推荐”评级。/ 03 /即将到来的解禁潮对短期投资者来说，宁德时代即将于6月10日迎来的一波解禁巨浪是需要特别警惕的。截至目前，宁德时代股价为432.21元/股，总市值为10068亿元，为创业板首只万亿市值个股。4116.29亿元的解禁市值占宁德时代总市值的40.88%，下周解禁后，宁德时代流通盘将大增70.18%。宁德时代6月10日解禁的股份来自于5名股东，分别为瑞庭投资、黄世霖、李平、东鹏伟创投资、绿联君和产业并购股权投资基金合伙企业，截至2021年一季度末，瑞庭投资、黄世霖、李平分列宁德时代第一、第二、第五大股东。在宁德时代下周解禁的5个股东中，瑞庭投资解禁市值达2470亿元，黄世霖解禁市值达1127.64亿元，李平解禁市值达483.86亿元，其他两名股东解禁市值不足20亿元。瑞庭投资为宁德时代控股股东，由宁德时代创始人、董事长曾毓群100%控股，黄世霖、李平为宁德时代联合创始人、副董事长，其中李平和曾毓群为一致行动人。宁德时代解禁详细信息一般来说，解禁会形成股东减持预期，迫使盘面股价短期承压，属于对散户们的重大利空。那么，巨量解禁之下，宁德时代在万亿市值的关口能够站得稳吗？","news_type":1,"symbols_score_info":{"300750":0.9}},"isVote":1,"tweetType":1,"viewCount":2153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118734242,"gmtCreate":1622761732286,"gmtModify":1704190512875,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571557586397050","idStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Wow... <a href=\"https://laohu8.com/S/DOCU\">$Docusign(DOCU)$</a>","listText":"Wow... <a href=\"https://laohu8.com/S/DOCU\">$Docusign(DOCU)$</a>","text":"Wow... $Docusign(DOCU)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/118734242","repostId":"1165343464","repostType":4,"repost":{"id":"1165343464","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":1622761362,"share":"https://ttm.financial/m/news/1165343464?lang=en_US&edition=fundamental","pubTime":"2021-06-04 07:02","market":"us","language":"zh","title":"DocuSign Q1 FY22 revenue of $469M, net loss of $08M","url":"https://stock-news.laohu8.com/highlight/detail?id=1165343464","media":"老虎资讯综合","summary":"6月4日，电子签名服务巨头DocuSign发布2022财年第一财季财报。财报显示，2022财年第一财季营收4.69亿美元，市场预期4.38亿美元，去年同期2.97亿美元；2022财年第一财季净亏损0.","content":"<p>On June 4, the electronic signature service giant<a href=\"https://laohu8.com/S/DOCU\">DocuSign</a>Released fiscal first quarter 2022 earnings. According to the financial report, the revenue in the first quarter of fiscal 2022 was US$469 million, compared with the market expectation of US$438 million and US$297 million in the same period last year; Net loss of US$08 million in the first fiscal quarter of fiscal 2022, compared with the market expectation of a net loss of US$40 million and a net loss of US$48 million in the same period last year; Loss of $0.04 per share in the first fiscal quarter of fiscal 2022, compared to the market expectation of a loss of $0.2 and a loss of $0.26 in the same quarter last year.</p><p><img src=\"https://static.tigerbbs.com/a2d3573459a411aad99768fbedb2c53a\" tg-width=\"1037\" tg-height=\"687\"></p><p>After the earnings release, DocuSign shares surged nearly 6% after hours to $205.99.</p><p><img src=\"https://static.tigerbbs.com/dca9c27479518d5b992915151299dc4d\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DocuSign Q1 FY22 revenue of $469M, net loss of $08M</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\">\nDocuSign Q1 FY22 revenue of $469M, net loss of $08M\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-04 07:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On June 4, the electronic signature service giant<a href=\"https://laohu8.com/S/DOCU\">DocuSign</a>Released fiscal first quarter 2022 earnings. According to the financial report, the revenue in the first quarter of fiscal 2022 was US$469 million, compared with the market expectation of US$438 million and US$297 million in the same period last year; Net loss of US$08 million in the first fiscal quarter of fiscal 2022, compared with the market expectation of a net loss of US$40 million and a net loss of US$48 million in the same period last year; Loss of $0.04 per share in the first fiscal quarter of fiscal 2022, compared to the market expectation of a loss of $0.2 and a loss of $0.26 in the same quarter last year.</p><p><img src=\"https://static.tigerbbs.com/a2d3573459a411aad99768fbedb2c53a\" tg-width=\"1037\" tg-height=\"687\"></p><p>After the earnings release, DocuSign shares surged nearly 6% after hours to $205.99.</p><p><img src=\"https://static.tigerbbs.com/dca9c27479518d5b992915151299dc4d\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0061efb0e1583b28e09279fa5ff76a58","relate_stocks":{"DOCU":"Docusign"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165343464","content_text":"6月4日，电子签名服务巨头DocuSign发布2022财年第一财季财报。财报显示，2022财年第一财季营收4.69亿美元，市场预期4.38亿美元，去年同期2.97亿美元；2022财年第一财季净亏损0.08亿美元，市场预期净亏损0.4亿美元，去年同期净亏损0.48亿美元；2022财年第一财季每股亏损0.04美元，市场预期亏损0.2美元，去年同期亏损0.26美元。\n\n财报发布后，DocuSign盘后股价大涨近6%，报205.99美元。","news_type":1,"symbols_score_info":{"DOCU":0.9}},"isVote":1,"tweetType":1,"viewCount":1608,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":168557535,"gmtCreate":1623979386127,"gmtModify":1703825302513,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/HFC\">$HollyFrontier(HFC)$</a> can buy now?","listText":"<a href=\"https://laohu8.com/S/HFC\">$HollyFrontier(HFC)$</a> can buy now?","text":"$HollyFrontier(HFC)$ can buy now?","images":[{"img":"https://static.tigerbbs.com/7374462ad90b13e8c14b25b41f99831b","width":"1125","height":"3395"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":3,"commentSize":20,"repostSize":1,"link":"https://ttm.financial/post/168557535","isVote":1,"tweetType":1,"viewCount":2803,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"content":"Let me check the chart","text":"Let me check the chart","html":"Let me check the chart"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":114731077,"gmtCreate":1623104753499,"gmtModify":1704195963856,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Read","listText":"Read","text":"Read","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":2,"commentSize":18,"repostSize":0,"link":"https://ttm.financial/post/114731077","repostId":"2141823276","repostType":4,"repost":{"id":"2141823276","kind":"highlight","pubTimestamp":1623080428,"share":"https://ttm.financial/m/news/2141823276?lang=en_US&edition=fundamental","pubTime":"2021-06-07 23:40","market":"us","language":"zh","title":"Bank of America: Some Investment Patterns in US Stocks Since 1928","url":"https://stock-news.laohu8.com/highlight/detail?id=2141823276","media":"华尔街见闻","summary":"目前市场对于美股是否“过度繁荣”的讨论非常热烈，有投资者担心美股或因美联储政策变化而出现大规模调整。\n美国银行试图从历史数据中寻找线索。该行统计显示，自1928年的月度数据表明传统“5月卖出”的股市谚","content":"<p>There is currently a heated discussion in the market about whether the US stock market is \"overprosperous,\" with some investors worried that the US stock market may experience a large-scale correction due to changes in the Federal Reserve's policies.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Trying to find clues from historical data. The bank's statistics show that monthly data since 1928 indicates that the traditional stock market adage of \"selling in May\" is not true, and US stocks are likely to experience a summer rally.</p><p><h2>The stock market proverb \"sell in May\" does not hold true</h2>Bank of America stated that monthly data since 1928 shows that the traditional \"May sell\" strategy does not hold true, and the S&P 500 is likely to experience a summer rally.</p><p><b>From a monthly perspective, although the return in May was negative, it was an excellent monthly buying opportunity.</b>The average return in June was approximately 0.77%; The average return in July was 1.58%, the highest of the year; The return in August was also quite good, averaging 0.7%.</p><p>September was the weakest month of the year, with an average return of -1.03%.<img src=\"https://static.tigerbbs.com/ffef396fe83da8fb05a1fcf928aca356\" tg-width=\"1095\" tg-height=\"760\" referrerpolicy=\"no-referrer\"></p><p>The \"presidential rally\" also confirms the pattern of the summer rally in US stocks.</p><p><b>Statistics show that in the first year of a new US president's term, large-scale rebounds in US stocks are typically concentrated in July and August.</b>The probability of a rise in July reached 65%, with a historical average return of 2.28%. September and October were relatively weak months.</p><p><img src=\"https://static.tigerbbs.com/0ac31bf82d51f9dc069f81cb79ee98d7\" tg-width=\"1103\" tg-height=\"790\" referrerpolicy=\"no-referrer\"></p><p><h2>The cross-month pattern also reflects the summer upward trend.</h2>From a monthly perspective, Bank of America statistics show that June-August was the second best-performing three months of the year, with a 65% probability of an increase and an average return of 3.18%. The weakest three months of the year are August to October, with a 55% probability of an increase, but an average return of only -0.03%.</p><p><img src=\"https://static.tigerbbs.com/b723af01581079a022899a5dacf947ed\" tg-width=\"1119\" tg-height=\"816\" referrerpolicy=\"no-referrer\"></p><p>August to October are the three weakest months of the year.<b>This means that there is a risk of a correction in US stocks in the fall.</b><img src=\"https://static.tigerbbs.com/9b56d223976b66649f0adb71a21b3cce\" tg-width=\"1106\" tg-height=\"802\" referrerpolicy=\"no-referrer\"></p><p><h2>The first 10 trading days of a month yield higher returns</h2>In terms of short-swing trading, monthly data since 1928 shows that<b>The market tends to perform better in the first 10 trading days of a month than in the last 10 trading days (except in December).</b><img src=\"https://static.tigerbbs.com/2d0204fb5c8b49191b3a1d854be72a01\" tg-width=\"1097\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p><b>June and July are the months when the relevant patterns are most obvious.</b>The average probability of an increase in the first 10 trading days of June was 59%, with an average return of 0.71%, and the probability of an increase in the last 10 trading days was 47%, with an average return of -0.01%. The probability of an increase in the first 10 trading days of July is 68%, with an average return of 1.53%, and the probability of an increase in the last 10 trading days is 59%, with an average return of -0.02%.<img src=\"https://static.tigerbbs.com/ea32f3689760a04aa567b8b1c2daaaa1\" tg-width=\"1094\" tg-height=\"827\" referrerpolicy=\"no-referrer\"></p><p><h2>The rebound in US stocks may continue.</h2>Bank of America emphasized that the Bloomberg U.S. Financial Conditions Index has reached a new high, which is precisely the leading indicator for the S&P 500's record high. This may indicate that the market will continue to rise.<img src=\"https://static.tigerbbs.com/9d72ba609108e876b7927dd14251dae4\" tg-width=\"1096\" tg-height=\"751\" referrerpolicy=\"no-referrer\">Bank of America predicts that if the indicator continues to rise, the S&P 500 is expected to gain further upward momentum and move towards the 4,400-4,500 point range.<img src=\"https://static.tigerbbs.com/9c480d60762f6cae516e86860cf3bbbc\" tg-width=\"1112\" tg-height=\"749\" referrerpolicy=\"no-referrer\"></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank of America: Some Investment Patterns in US Stocks Since 1928</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\">\nBank of America: Some Investment Patterns in US Stocks Since 1928\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-07 23:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There is currently a heated discussion in the market about whether the US stock market is \"overprosperous,\" with some investors worried that the US stock market may experience a large-scale correction due to changes in the Federal Reserve's policies.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Trying to find clues from historical data. The bank's statistics show that monthly data since 1928 indicates that the traditional stock market adage of \"selling in May\" is not true, and US stocks are likely to experience a summer rally.</p><p><h2>The stock market proverb \"sell in May\" does not hold true</h2>Bank of America stated that monthly data since 1928 shows that the traditional \"May sell\" strategy does not hold true, and the S&P 500 is likely to experience a summer rally.</p><p><b>From a monthly perspective, although the return in May was negative, it was an excellent monthly buying opportunity.</b>The average return in June was approximately 0.77%; The average return in July was 1.58%, the highest of the year; The return in August was also quite good, averaging 0.7%.</p><p>September was the weakest month of the year, with an average return of -1.03%.<img src=\"https://static.tigerbbs.com/ffef396fe83da8fb05a1fcf928aca356\" tg-width=\"1095\" tg-height=\"760\" referrerpolicy=\"no-referrer\"></p><p>The \"presidential rally\" also confirms the pattern of the summer rally in US stocks.</p><p><b>Statistics show that in the first year of a new US president's term, large-scale rebounds in US stocks are typically concentrated in July and August.</b>The probability of a rise in July reached 65%, with a historical average return of 2.28%. September and October were relatively weak months.</p><p><img src=\"https://static.tigerbbs.com/0ac31bf82d51f9dc069f81cb79ee98d7\" tg-width=\"1103\" tg-height=\"790\" referrerpolicy=\"no-referrer\"></p><p><h2>The cross-month pattern also reflects the summer upward trend.</h2>From a monthly perspective, Bank of America statistics show that June-August was the second best-performing three months of the year, with a 65% probability of an increase and an average return of 3.18%. The weakest three months of the year are August to October, with a 55% probability of an increase, but an average return of only -0.03%.</p><p><img src=\"https://static.tigerbbs.com/b723af01581079a022899a5dacf947ed\" tg-width=\"1119\" tg-height=\"816\" referrerpolicy=\"no-referrer\"></p><p>August to October are the three weakest months of the year.<b>This means that there is a risk of a correction in US stocks in the fall.</b><img src=\"https://static.tigerbbs.com/9b56d223976b66649f0adb71a21b3cce\" tg-width=\"1106\" tg-height=\"802\" referrerpolicy=\"no-referrer\"></p><p><h2>The first 10 trading days of a month yield higher returns</h2>In terms of short-swing trading, monthly data since 1928 shows that<b>The market tends to perform better in the first 10 trading days of a month than in the last 10 trading days (except in December).</b><img src=\"https://static.tigerbbs.com/2d0204fb5c8b49191b3a1d854be72a01\" tg-width=\"1097\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p><b>June and July are the months when the relevant patterns are most obvious.</b>The average probability of an increase in the first 10 trading days of June was 59%, with an average return of 0.71%, and the probability of an increase in the last 10 trading days was 47%, with an average return of -0.01%. The probability of an increase in the first 10 trading days of July is 68%, with an average return of 1.53%, and the probability of an increase in the last 10 trading days is 59%, with an average return of -0.02%.<img src=\"https://static.tigerbbs.com/ea32f3689760a04aa567b8b1c2daaaa1\" tg-width=\"1094\" tg-height=\"827\" referrerpolicy=\"no-referrer\"></p><p><h2>The rebound in US stocks may continue.</h2>Bank of America emphasized that the Bloomberg U.S. Financial Conditions Index has reached a new high, which is precisely the leading indicator for the S&P 500's record high. This may indicate that the market will continue to rise.<img src=\"https://static.tigerbbs.com/9d72ba609108e876b7927dd14251dae4\" tg-width=\"1096\" tg-height=\"751\" referrerpolicy=\"no-referrer\">Bank of America predicts that if the indicator continues to rise, the S&P 500 is expected to gain further upward momentum and move towards the 4,400-4,500 point range.<img src=\"https://static.tigerbbs.com/9c480d60762f6cae516e86860cf3bbbc\" tg-width=\"1112\" tg-height=\"749\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3632326\">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/271cfa4439cda1437f20c9b60f7c187d","relate_stocks":{"BAC":"美国银行"},"source_url":"https://wallstreetcn.com/articles/3632326","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141823276","content_text":"目前市场对于美股是否“过度繁荣”的讨论非常热烈，有投资者担心美股或因美联储政策变化而出现大规模调整。\n美国银行试图从历史数据中寻找线索。该行统计显示，自1928年的月度数据表明传统“5月卖出”的股市谚语并不成立，美股大概率将经历夏季上涨行情。\n“5月卖出”的股市谚语并不成立\n美国银行表示，自1928年的月度数据显示，传统的“5月卖出”的策略并不成立，标普500指数大概率经历夏季上涨行情。\n从月份角度，5月回报率虽然为负但是绝佳的阶段性月度买点：6月的平均回报率约为0.77%；7月的平均回报率为1.58%，为全年最高；8月的回报率也相当不错，平均达到0.7%。\n9月才是全年表现最弱的月度，平均回报率为-1.03%。\n“总统行情”也确认美股夏季行情的规律。\n统计显示在美国新总统上任的第1年，美股的大规模反弹通常集中在7—8月：7月相关上涨概率达到65%，历史平均回报率达到2.28%。9-10月份则是相对疲弱的月份。\n\n跨月规律也显示夏季上涨规律\n在跨月角度，美国银行统计显示，6—8月是全年中表现第2好的3个月，相关上涨概率达到65%，平均回报率达到3.18%；1年中最弱的3个月是8月至10月，上涨概率为55%，但平均回报率仅为—0.03%\n\n而8月—10月则是全年中最弱的3个月，这意味着美股存在秋季回调的风险。\n单月中的头10个交易日回报率更高\n在短线交易方面，自1928年的月度数据显示，单月的前10个交易日市场表现往往比后10个交易日更强（12月除外）。\n6、7月份是相关规律显示最为明显的月份。6月前10个交易日平均上涨概率为59%，平均回报率为0.71%，后10个交易日上涨概率为47%，平均回报率为—0.01%。7月前10个交易日上涨概率为68%，平均回报率为1.53%，后10个交易日上涨概率59%，平均回报率为-0.02%。\n美股反弹或将继续延续\n美国银行强调，目前彭博美国金融状况指数突破新高，而这恰恰是标普500指突破新高的领先性指标。这或许暗示市场将继续上行。美国银行预测认为，如果该指标继续上行，标普500指数有望获得进一步上涨动能，向4400—4500点区间迈进。","news_type":1,"symbols_score_info":{"BAC":0.9}},"isVote":1,"tweetType":1,"viewCount":2680,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165651647,"gmtCreate":1624138258089,"gmtModify":1703829196427,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Very good performance&nbsp;","listText":"Very good performance&nbsp;","text":"Very good performance","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":2,"commentSize":17,"repostSize":0,"link":"https://ttm.financial/post/165651647","repostId":"2144702770","repostType":4,"repost":{"id":"2144702770","kind":"highlight","pubTimestamp":1624244088,"share":"https://ttm.financial/m/news/2144702770?lang=en_US&edition=fundamental","pubTime":"2021-06-21 10:54","market":"hk","language":"zh","title":"An 18-fold increase in 10 years! Did you miss out on the generous dividends in tech stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=2144702770","media":"新浪财经综合","summary":"港股科技股市值近10年来呈井喷之势，恒生资讯科技业指数市值由10年前（2011年6月）不足1万亿元，10年间暴增1800%至超17万亿元，并一举超过恒生金融业指数15.73万亿元的市值的市值，雄踞港股","content":"<p>The market capitalization of Hong Kong technology stocks has exploded in the past 10 years. The market capitalization of the Hang Seng Information Technology Index has increased by 1800% from less than HK$1 trillion 10 years ago (June 2011) to over HK$17 trillion in 10 years, and has surpassed the Hang Seng Financial Index's market capitalization of HK$15.73 trillion, ranking first among all industries in the Hong Kong stock market!</p><p>The Hong Kong stock market is expanding steadily overall.</p><p>Changes in market capitalization of the three major heavyweight industry indices in Hong Kong stocks over the past 10 years (see the chart below).<img src=\"https://static.tigerbbs.com/6da34a6fd16e9aaad4a45a0705a50187\" tg-width=\"549\" tg-height=\"419\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>At the same time, the total market capitalization of the Hong Kong stock market increased from approximately HK$20 trillion 10 years ago to over HK$50 trillion.</p><p><img src=\"https://static.tigerbbs.com/623fb4d1a2b1422cabfb3a7f8c65af7c\" tg-width=\"796\" tg-height=\"690\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>The main reason for the market capitalization growth is the significant expansion of Hong Kong-listed companies, with the number of listed companies increasing from 1,448 10 years ago to nearly 2,600 today. Meanwhile, the Hang Seng Index, which was once dominated by financial and real estate stocks, has seen relatively limited gains, rising by only about 20% over the past decade.</p><p>The number of companies listed on the Hong Kong Stock Exchange is shown in the figure below.</p><p><img src=\"https://static.tigerbbs.com/3cc6565025f2f3abf895088cfcf29da7\" tg-width=\"789\" tg-height=\"223\" referrerpolicy=\"no-referrer\"></p><p>Looking at the market capitalization ratio of various industry indices, the proportion of the Hang Seng Information Technology Index (accounting for the total market capitalization of companies included in the Hang Seng series industry indices) has increased explosively from 3% in June 2011 to the latest 25%!</p><p>Old economic sectors are sluggish</p><p>Finance, real estate, and energy, three heavyweight sectors of the established economy, have significantly underperformed the market, and energy is no longer even a heavyweight sector.</p><p><img src=\"https://static.tigerbbs.com/546bcd2e116e4cc22cdd0cf3edebf61d\" tg-width=\"584\" tg-height=\"472\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/5dd31eaef02347d31d36a54b4594ed2a\" tg-width=\"562\" tg-height=\"522\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>The Hang Seng Financial Industries Index has increased from 11 trillion yuan 10 years ago to less than 16 trillion yuan lately. However, the proportion of the Hang Seng Financial Index declined significantly, from 46% to 25%, making it the sector with the largest decline.</p><p>Hong Kong heavyweight stocks such as Changshi and Sun Hung Kai Properties<a href=\"https://laohu8.com/S/01972\">Swire Properties</a>、<a href=\"https://laohu8.com/S/00017\">New World development</a>The real estate index, which is clustered together, also performed weakly, with its market capitalization share dropping from 10% to 9%.</p><p>In addition, the sluggish oil prices over the past 10 years have also caused the market capitalization of the Hang Seng Energy Index to decline from HK$4.8 trillion to HK$2.1 trillion. Instead of increasing in the past 10 years, it has been halved, and its market capitalization share has dropped sharply from 18% to 3%.<img src=\"https://static.tigerbbs.com/4b27148417ef1d600426d51d4c161bda\" tg-width=\"537\" tg-height=\"431\" referrerpolicy=\"no-referrer\"></p><p>The Choice of the Times and the Reform of the Hong Kong Stock</p><p>The past 10 years can be considered a golden decade for Chinese technology companies, with Alibaba,<a href=\"https://laohu8.com/S/00700\">Tencent</a>Both giants have experienced explosive growth, with their market capitalizations increasing to behemoths in the 5 trillion yuan range. Meituan and Xiaomi were unknown ten years ago, but Meituan has become a technology leader with a market value of nearly 2 trillion yuan, and Xiaomi has grown into a smart home ecosystem leader with a market value of 700 billion yuan.<a href=\"https://laohu8.com/S/JD\">JD.com</a>From years of losses to now stable profitability, its market capitalization has reached trillions of yuan.<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/NTES\">NetEase</a>While slightly less impressive than the explosive growth of the first decade of this century, it has made steady progress and lived up to the expectations of the times.</p><p>The strong development of the short video industry in recent years has created Kuaishou,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Waiting for the rise of leading video companies. In addition, according to media reports in April this year, ByteDance has submitted an underwriter appointment letter to the Hong Kong Stock Exchange and initiated the process of listing in Hong Kong, with a valuation of US$400 billion. ByteDance, a phenomenal blockbuster company, will be listed on the Hong Kong Stock Exchange in the near future, and there is still considerable room for growth in the market capitalization of Hong Kong-listed technology stocks.</p><p><img src=\"https://static.tigerbbs.com/2e3dfd73fe60381e50e44793dfc84464\" tg-width=\"570\" tg-height=\"412\" referrerpolicy=\"no-referrer\">On one hand, the times have brought substantial dividends to technology stocks; on the other hand, the Hong Kong Stock Exchange has learned from its mistakes and is reforming itself.</p><p>The Hong Kong Stock Exchange missed in 2014<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Later, at the end of 2017, it finally made its biggest change in more than 20 years - allowing the dual-class share structure and the listing of unprofitable biological companies.</p><p>It is no exaggeration to say that 2018 marked the beginning of a new era for Hong Kong stocks. A large number of leading tech companies that had previously missed out on Hong Kong stocks have chosen to list in Hong Kong for a secondary period, including established tech giants such as Alibaba, Baidu, JD.com, and NetEase. This also led newcomers such as Meituan, Xiaomi, and Kuaishou to choose Hong Kong as their initial public offering location. The Hong Kong stock market has become an indispensable market for investing in China's technology industry!</p>","source":"highlight_sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>An 18-fold increase in 10 years! Did you miss out on the generous dividends in tech stocks?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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\">\nAn 18-fold increase in 10 years! Did you miss out on the generous dividends in tech stocks?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经综合</strong><span class=\"h-time small\">2021-06-21 10:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The market capitalization of Hong Kong technology stocks has exploded in the past 10 years. The market capitalization of the Hang Seng Information Technology Index has increased by 1800% from less than HK$1 trillion 10 years ago (June 2011) to over HK$17 trillion in 10 years, and has surpassed the Hang Seng Financial Index's market capitalization of HK$15.73 trillion, ranking first among all industries in the Hong Kong stock market!</p><p>The Hong Kong stock market is expanding steadily overall.</p><p>Changes in market capitalization of the three major heavyweight industry indices in Hong Kong stocks over the past 10 years (see the chart below).<img src=\"https://static.tigerbbs.com/6da34a6fd16e9aaad4a45a0705a50187\" tg-width=\"549\" tg-height=\"419\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>At the same time, the total market capitalization of the Hong Kong stock market increased from approximately HK$20 trillion 10 years ago to over HK$50 trillion.</p><p><img src=\"https://static.tigerbbs.com/623fb4d1a2b1422cabfb3a7f8c65af7c\" tg-width=\"796\" tg-height=\"690\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>The main reason for the market capitalization growth is the significant expansion of Hong Kong-listed companies, with the number of listed companies increasing from 1,448 10 years ago to nearly 2,600 today. Meanwhile, the Hang Seng Index, which was once dominated by financial and real estate stocks, has seen relatively limited gains, rising by only about 20% over the past decade.</p><p>The number of companies listed on the Hong Kong Stock Exchange is shown in the figure below.</p><p><img src=\"https://static.tigerbbs.com/3cc6565025f2f3abf895088cfcf29da7\" tg-width=\"789\" tg-height=\"223\" referrerpolicy=\"no-referrer\"></p><p>Looking at the market capitalization ratio of various industry indices, the proportion of the Hang Seng Information Technology Index (accounting for the total market capitalization of companies included in the Hang Seng series industry indices) has increased explosively from 3% in June 2011 to the latest 25%!</p><p>Old economic sectors are sluggish</p><p>Finance, real estate, and energy, three heavyweight sectors of the established economy, have significantly underperformed the market, and energy is no longer even a heavyweight sector.</p><p><img src=\"https://static.tigerbbs.com/546bcd2e116e4cc22cdd0cf3edebf61d\" tg-width=\"584\" tg-height=\"472\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/5dd31eaef02347d31d36a54b4594ed2a\" tg-width=\"562\" tg-height=\"522\" referrerpolicy=\"no-referrer\">Data source: Wind</p><p>The Hang Seng Financial Industries Index has increased from 11 trillion yuan 10 years ago to less than 16 trillion yuan lately. However, the proportion of the Hang Seng Financial Index declined significantly, from 46% to 25%, making it the sector with the largest decline.</p><p>Hong Kong heavyweight stocks such as Changshi and Sun Hung Kai Properties<a href=\"https://laohu8.com/S/01972\">Swire Properties</a>、<a href=\"https://laohu8.com/S/00017\">New World development</a>The real estate index, which is clustered together, also performed weakly, with its market capitalization share dropping from 10% to 9%.</p><p>In addition, the sluggish oil prices over the past 10 years have also caused the market capitalization of the Hang Seng Energy Index to decline from HK$4.8 trillion to HK$2.1 trillion. Instead of increasing in the past 10 years, it has been halved, and its market capitalization share has dropped sharply from 18% to 3%.<img src=\"https://static.tigerbbs.com/4b27148417ef1d600426d51d4c161bda\" tg-width=\"537\" tg-height=\"431\" referrerpolicy=\"no-referrer\"></p><p>The Choice of the Times and the Reform of the Hong Kong Stock</p><p>The past 10 years can be considered a golden decade for Chinese technology companies, with Alibaba,<a href=\"https://laohu8.com/S/00700\">Tencent</a>Both giants have experienced explosive growth, with their market capitalizations increasing to behemoths in the 5 trillion yuan range. Meituan and Xiaomi were unknown ten years ago, but Meituan has become a technology leader with a market value of nearly 2 trillion yuan, and Xiaomi has grown into a smart home ecosystem leader with a market value of 700 billion yuan.<a href=\"https://laohu8.com/S/JD\">JD.com</a>From years of losses to now stable profitability, its market capitalization has reached trillions of yuan.<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/NTES\">NetEase</a>While slightly less impressive than the explosive growth of the first decade of this century, it has made steady progress and lived up to the expectations of the times.</p><p>The strong development of the short video industry in recent years has created Kuaishou,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Waiting for the rise of leading video companies. In addition, according to media reports in April this year, ByteDance has submitted an underwriter appointment letter to the Hong Kong Stock Exchange and initiated the process of listing in Hong Kong, with a valuation of US$400 billion. ByteDance, a phenomenal blockbuster company, will be listed on the Hong Kong Stock Exchange in the near future, and there is still considerable room for growth in the market capitalization of Hong Kong-listed technology stocks.</p><p><img src=\"https://static.tigerbbs.com/2e3dfd73fe60381e50e44793dfc84464\" tg-width=\"570\" tg-height=\"412\" referrerpolicy=\"no-referrer\">On one hand, the times have brought substantial dividends to technology stocks; on the other hand, the Hong Kong Stock Exchange has learned from its mistakes and is reforming itself.</p><p>The Hong Kong Stock Exchange missed in 2014<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Later, at the end of 2017, it finally made its biggest change in more than 20 years - allowing the dual-class share structure and the listing of unprofitable biological companies.</p><p>It is no exaggeration to say that 2018 marked the beginning of a new era for Hong Kong stocks. A large number of leading tech companies that had previously missed out on Hong Kong stocks have chosen to list in Hong Kong for a secondary period, including established tech giants such as Alibaba, Baidu, JD.com, and NetEase. This also led newcomers such as Meituan, Xiaomi, and Kuaishou to choose Hong Kong as their initial public offering location. The Hong Kong stock market has become an indispensable market for investing in China's technology industry!</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-06-19/doc-ikqcfnca1890926.shtml\">新浪财经综合</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/753c9aba3202037bc97463c545d5d015","relate_stocks":{"HSI":"恒生指数"},"source_url":"https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-06-19/doc-ikqcfnca1890926.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2144702770","content_text":"港股科技股市值近10年来呈井喷之势，恒生资讯科技业指数市值由10年前（2011年6月）不足1万亿元，10年间暴增1800%至超17万亿元，并一举超过恒生金融业指数15.73万亿元的市值的市值，雄踞港股各行业市值榜首！\n港股市场整体稳步扩张\n港股三大权重行业指数10年来市值变化（见下图）。数据来源：Wind\n与此同时，港股主板总市值由10年前的约20万亿港元增至超50万亿港元。\n数据来源：Wind\n市值增长的主要原因是港股上市公司的大幅扩张，上市公司数量由10年前的1448家增至现今的近2600家。于此同时，曾以金融、地产股为主的恒生指数涨幅则相对有限，十年间仅有约20%。\n港股上市公司数量，如下图所示。\n\n从各行业指数市值占比来看，恒生资讯科技业指数比重（占入选恒生系列行业指数的公司总市值）由2011年6月的3%爆发式增至最新的25%！\n老经济板块低迷\n金融、地产、能源这三个权重老经济板块，则明显跑输市场，甚至能源已不再是一个权重板块。\n数据来源：Wind\n恒生金融业指数由10年前的11万亿元增至最新的不足16万亿元。但恒生金融业指数比重则下滑明显，由占比46%下滑至25%，是下滑幅度最大的行业。\n香港本地重磅股长实、新鸿基、太古地产、新世界发展等扎堆的地产指数也表现较弱，市值占比从10%降至9%。\n此外，近10年油价的低迷也导致恒生能源业指数市值由4.8万亿元下滑至2.1万亿元，10年来不增反而腰斩，市值比重由18%大幅下滑至3%。\n时代选择与港交所自身改革\n近10年，可以说是中国科技公司的黄金10年，阿里、腾讯双雄爆发式成长，市值均增长至5万亿量级的庞然大物。美团、小米十年前尚名不见经传，但美团已成为市值近2万亿的科技龙头，小米也成长至市值7000亿的智能家居生态龙头。京东从连年亏损到如今稳定盈利，市值达到万亿量级。百度、网易稍逊风骚，虽不如本世纪前十年的爆发式增长，也稳扎稳打不负时代所托。\n近几年的短视频行业强势发展，造就了快手、哔哩哔哩等视频龙头的崛起。此外，据媒体今年4月报道称，字节跳动已向港交所提交了承销商聘用函，启动了赴港上市流程，估值达4000亿美元。字节跳动这一现象级重磅公司在不久的未来将登陆港股，未来港股科技股市值仍有相当增长空间。\n一边是时代给了科技股丰厚的红利，另外一边则是港交所痛定思痛，自身改革。\n港交所在2014年错失阿里巴巴后，最终在2017年末做出了其二十多年来最大的变革——放行同股不同权架构和尚未盈利的生物公司上市。\n毫不夸张的说，从2018年起，对港股来说是一个全新时代的开启。大批此前无缘港股的科技龙头在香港选择二次上市，其中包括阿里巴巴、百度、京东、网易等老牌科技龙头。也让新贵美团、小米、快手等选择香港作为首次上市地点。现今的港股市场，已是投资中国科技行业不可或缺的市场！","news_type":1,"symbols_score_info":{"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":2352,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3581755931051558","authorId":"3581755931051558","name":"AhCSL","avatar":"https://static.tigerbbs.com/e339eef227c28073a8900c75adf5f329","crmLevel":1,"crmLevelSwitch":0,"idStr":"3581755931051558","authorIdStr":"3581755931051558"},"content":"Any suggestion?","text":"Any suggestion?","html":"Any suggestion?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887579969,"gmtCreate":1632088190251,"gmtModify":1676530695870,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/FICO\">$Fair Isaac Corp(FICO)$</a>patience&nbsp;","listText":"<a href=\"https://laohu8.com/S/FICO\">$Fair Isaac Corp(FICO)$</a>patience&nbsp;","text":"$Fair Isaac Corp(FICO)$patience","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":16,"repostSize":0,"link":"https://ttm.financial/post/887579969","repostId":"353293745","repostType":1,"repost":{"id":353293745,"gmtCreate":1616498223087,"gmtModify":1704794867322,"author":{"id":"3436310715787496","authorId":"3436310715787496","name":"金思汇闻","avatar":"https://static.tigerbbs.com/569b7e391b67b52cb16b8b7a3531f1be","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3436310715787496","authorIdStr":"3436310715787496"},"themes":[],"title":"FICO，一個有價值觀的偉大企業(十年十倍股系列五)","htmlText":"我們現在看到的那些強大而受人尊重的公司，大多是因爲公司不僅在商業取得成功，而且在改變人類生活方式和推動社會進步上取得的巨大成就從而引發人們的關注。美國的<a target=\"_blank\" href=\"https://laohu8.com/S/AAPL\">$蘋果(AAPL)$</a>&nbsp;蘋果，&nbsp;微軟，谷歌，亞馬遜，中國的阿里，<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$騰訊控股(00700)$</a>&nbsp;騰訊，無不如此。然而在美國也有這麼一家公司對於全球金融系統有着至關重要影響的公司，但公司的市值僅僅不到摩根大通的4%，阿里巴巴的2%，貴州茅臺的4%。這家公司就是Fair Isaac Corporation，也就是大家常說的<a target=\"_blank\" href=\"https://laohu8.com/S/FICO\">$Fair Isaac Corp(FICO)$</a>&nbsp;FICO。公司背景1956年，工程師 Bill Fair和數學家Earl Isaac在三藩市創立了Fair Isaac Corporation（FICO），公司在1958年推了世界第一款個人信用積分系統，通過與美國三大徵信公司的數據合作（EQUIFAX、EXPERIAN、TRANSUNION），公司將個人的信用相關的活動作爲輸入，通過獨有的算法，將每個人的信用轉化成一個3位數的積分，積分從300到850分不等，積分越高就說明你的信用越好。對於一個注重個人信用的商業社會來講，高信用的價值不言而喻。在70年代，FICO起步的年代裏，美國的種族歧視尤爲嚴重，銀行對於金融服務的對象往往會有着天生的偏見。FICO推出的個人信用積分系統，極大的降低了金融服務的種族歧視，促進了社會的進步。而FICO積分在金融領域","listText":"我們現在看到的那些強大而受人尊重的公司，大多是因爲公司不僅在商業取得成功，而且在改變人類生活方式和推動社會進步上取得的巨大成就從而引發人們的關注。美國的<a target=\"_blank\" href=\"https://laohu8.com/S/AAPL\">$蘋果(AAPL)$</a>&nbsp;蘋果，&nbsp;微軟，谷歌，亞馬遜，中國的阿里，<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$騰訊控股(00700)$</a>&nbsp;騰訊，無不如此。然而在美國也有這麼一家公司對於全球金融系統有着至關重要影響的公司，但公司的市值僅僅不到摩根大通的4%，阿里巴巴的2%，貴州茅臺的4%。這家公司就是Fair Isaac Corporation，也就是大家常說的<a target=\"_blank\" href=\"https://laohu8.com/S/FICO\">$Fair Isaac Corp(FICO)$</a>&nbsp;FICO。公司背景1956年，工程師 Bill Fair和數學家Earl Isaac在三藩市創立了Fair Isaac Corporation（FICO），公司在1958年推了世界第一款個人信用積分系統，通過與美國三大徵信公司的數據合作（EQUIFAX、EXPERIAN、TRANSUNION），公司將個人的信用相關的活動作爲輸入，通過獨有的算法，將每個人的信用轉化成一個3位數的積分，積分從300到850分不等，積分越高就說明你的信用越好。對於一個注重個人信用的商業社會來講，高信用的價值不言而喻。在70年代，FICO起步的年代裏，美國的種族歧視尤爲嚴重，銀行對於金融服務的對象往往會有着天生的偏見。FICO推出的個人信用積分系統，極大的降低了金融服務的種族歧視，促進了社會的進步。而FICO積分在金融領域","text":"我們現在看到的那些強大而受人尊重的公司，大多是因爲公司不僅在商業取得成功，而且在改變人類生活方式和推動社會進步上取得的巨大成就從而引發人們的關注。美國的$蘋果(AAPL)$ 蘋果， 微軟，谷歌，亞馬遜，中國的阿里，$騰訊控股(00700)$ 騰訊，無不如此。然而在美國也有這麼一家公司對於全球金融系統有着至關重要影響的公司，但公司的市值僅僅不到摩根大通的4%，阿里巴巴的2%，貴州茅臺的4%。這家公司就是Fair Isaac Corporation，也就是大家常說的$Fair Isaac Corp(FICO)$ FICO。公司背景1956年，工程師 Bill Fair和數學家Earl Isaac在三藩市創立了Fair Isaac Corporation（FICO），公司在1958年推了世界第一款個人信用積分系統，通過與美國三大徵信公司的數據合作（EQUIFAX、EXPERIAN、TRANSUNION），公司將個人的信用相關的活動作爲輸入，通過獨有的算法，將每個人的信用轉化成一個3位數的積分，積分從300到850分不等，積分越高就說明你的信用越好。對於一個注重個人信用的商業社會來講，高信用的價值不言而喻。在70年代，FICO起步的年代裏，美國的種族歧視尤爲嚴重，銀行對於金融服務的對象往往會有着天生的偏見。FICO推出的個人信用積分系統，極大的降低了金融服務的種族歧視，促進了社會的進步。而FICO積分在金融領域","images":[{"img":"https://static.tigerbbs.com/2816c88d7e37a752d58b1325bb475cb8","width":"335","height":"159"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/353293745","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":9,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":6864,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887331727,"gmtCreate":1631972782969,"gmtModify":1676530680513,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"This is good","listText":"This is good","text":"This is good","images":[{"img":"https://static.tigerbbs.com/db2ecb7c6bc2a02d30dde92a1f48a649","width":"1125","height":"3094"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":1,"commentSize":16,"repostSize":0,"link":"https://ttm.financial/post/887331727","isVote":1,"tweetType":1,"viewCount":5344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":837787058,"gmtCreate":1629928710574,"gmtModify":1676530172098,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/ULTA\">$Ulta Salon(ULTA)$</a>US10 away from prediction of 420","listText":"<a href=\"https://laohu8.com/S/ULTA\">$Ulta Salon(ULTA)$</a>US10 away from prediction of 420","text":"$Ulta Salon(ULTA)$US10 away from prediction of 420","images":[{"img":"https://static.tigerbbs.com/ed95cfe34c8c28db58037b670551988a","width":"1242","height":"2151"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":2,"commentSize":14,"repostSize":0,"link":"https://ttm.financial/post/837787058","isVote":1,"tweetType":1,"viewCount":3988,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":813799732,"gmtCreate":1630243132826,"gmtModify":1676530249776,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":1,"commentSize":14,"repostSize":0,"link":"https://ttm.financial/post/813799732","repostId":"1184815007","repostType":2,"isVote":1,"tweetType":1,"viewCount":6047,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357311988,"gmtCreate":1617237646544,"gmtModify":1704697611856,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/LMND\">$Lemonade, Inc.(LMND)$</a> back from dead?","listText":"<a href=\"https://laohu8.com/S/LMND\">$Lemonade, Inc.(LMND)$</a> back from dead?","text":"$Lemonade, Inc.(LMND)$ back from dead?","images":[{"img":"https://static.tigerbbs.com/486c2407073a9c02ca2197152b9d993a","width":"1125","height":"3277"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/357311988","isVote":1,"tweetType":1,"viewCount":1397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":125355948,"gmtCreate":1624660215984,"gmtModify":1703842852543,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Sell when high?&nbsp;","listText":"Sell when high?&nbsp;","text":"Sell when high?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/125355948","repostId":"2146026823","repostType":4,"isVote":1,"tweetType":1,"viewCount":1996,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114667375,"gmtCreate":1623073069097,"gmtModify":1704195465715,"author":{"id":"3571557586397050","authorId":"3571557586397050","name":"AhOng","avatar":"https://static.tigerbbs.com/e3edadf648d1a9539369c3fdbd0e0a61","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571557586397050","authorIdStr":"3571557586397050"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/114667375","repostId":"2141004294","repostType":4,"repost":{"id":"2141004294","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":1622959849,"share":"https://ttm.financial/m/news/2141004294?lang=en_US&edition=fundamental","pubTime":"2021-06-06 14:10","market":"hk","language":"zh","title":"410 billion yuan! CATL is facing a massive lifting of lock-up restrictions; can it weather the storm safely?","url":"https://stock-news.laohu8.com/highlight/detail?id=2141004294","media":"老虎资讯综合","summary":"近日，成立十年的宁德时代迎来了其发展中的一次里程碑式跨越。6月5日，宁德时代股份盘中一度达到439.5元/股的历史最高值，最终收盘于432.21元/股，市值再度突破万亿元。此前不久的5月31日，该公司","content":"<p>Recently, CATL, which has been established for ten years, ushered in a milestone leap in its development.</p><p>On June 5, CATL reached a historical high of 439.5 yuan per share during trading, and finally closed at 432.21 yuan per share, with its market capitalization once again exceeding one trillion yuan. On May 31, the company's stock price surged by more than 6% on high volume, and its market value exceeded one trillion yuan for the first time, becoming a new giant in the A-share \"trillion-yuan\" market value club with its technology manufacturing attributes.</p><p><img src=\"https://static.tigerbbs.com/fcb210468635fa704b49b71271c28929\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>However, just as the market was applauding and celebrating CATL, some people saw a \"bubble\".</p><p>On the same day, Morgan Stanley downgraded CATL's rating to \"underweight\" with a target price of only 251 yuan, which is equivalent to a 40% discount to the current stock price of more than 400 yuan.</p><p>Coincidentally, as early as November 2020, Morgan Stanley downgraded CATL's stock rating from overweight to equal weight. The reason given at the time was that the medium-term prospects of new energy batteries had been basically reflected in the stock price, and whether global automakers could launch new models that were popular with the market might not be verified until next year.</p><p>Is it too high or too low? Can CATL, which has reached the \"summit,\" still catch up? For investors, there are at least three hidden dangers that require attention.</p><p><b>/ 01 /</b></p><p><b>Profitability is on a downward trend.</b></p><p>As a leader in the power battery industry, CATL has benefited from the high prosperity of the industry and the high valuation premium given to leading companies by the market. Since its listing, it has enjoyed the treatment of being \"favored\" by institutions, and its stock price has continued to rise.</p><p>Looking at the daily chart, it can be seen that from its listing on the ChiNext board on June 11, 2018, to June 4, 2021, the company's stock price has generally shown a rapid upward trend. Compared to its initial offering price of 25.14 yuan per share, CATL's stock price has increased by 1592% in the past three years.</p><p>However, despite the soaring stock price, CATL's profitability continues to decline.</p><p>In 2020, the company sold 44.45 GWh of power battery systems, a year-on-year increase of 10.43%, generating revenue of RMB 39.426 billion, a year-on-year increase of 2.18%. The fact that revenue growth is slower than sales growth indicates that product prices are declining.</p><p>On the other hand, due to rising commodity prices since the second half of 2020, CATL's main raw materials, lithium carbonate and cobalt, have both seen increases of more than 20%, increasing cost control pressure.</p><p>A slight increase in revenue and a significant increase in costs put some pressure on profits. In 2020, CATL's gross profit margin was 27.76%, a decrease of 1.3 percentage points compared to 29.06% in 2019.</p><p>Node Finance's review of financial reports revealed that this is not the first time CATL's gross profit margin has declined. In fact, since its listing, CATL's gross profit margin has remained on a downward trend.</p><p><img src=\"https://static.tigerbbs.com/221a2154223564669e02d5c5d597485c\" tg-width=\"550\" tg-height=\"392\" referrerpolicy=\"no-referrer\">Data source: CATL financial report, Eastmoney choice</p><p>As shown in the chart above, from 2016 to 2020, the company's gross profit margin decreased from 43.7% to 27.76%, a decrease of 15.94 percentage points in five years. Compared to the situation before the listing, the company's gross profit margin increased from 25.73% to 43.7% from 2014 to 2016, and its profitability differed significantly before and after the listing.</p><p>In response, CATL also stated in its financial report that if factors such as intensified market competition or industry policy adjustments cause adverse changes in the company's product prices and raw material procurement prices in the future, the company's gross profit margin risks declining.</p><p>In the first quarter of 2021, the company's gross profit margin was 27.28%, an increase of 2.19 percentage points compared with the same period of the previous year. It has not yet recovered to the gross profit margin level of the first quarter of 2019 before the outbreak of the pandemic, but it decreased by 1.08 percentage points quarter-on-quarter.</p><p>At the same time, the company's ability to return to shareholders has weakened, with its weighted return on equity (ROE) decreasing from 69.55% in 2016 to 11.27% in 2020.</p><p>However, none of this seems to have affected the capital market's enthusiasm for CATL, with its valuation soaring like a wild horse.</p><p><b>/ 02 /</b></p><p><b>Valuations are \"galloping\"</b></p><p>Based on CATL's net profit of 1.954 billion yuan in the first quarter of this year, CATL's corresponding rolling P/E is 149 times, which is the highest value in history; Based on a net profit of 5.583 billion yuan in 2020, CATL's static P/E is 179 times, which is also the highest value in history.</p><p>Even according to the consensus earnings forecasts given by securities firms, the company's net profit in 2023 is expected to be 20 billion yuan, corresponding to a 51-fold P/E, which is still a figure within the 5-year valuation central range.</p><p>Considering the performance, from 2016 to 2020, in five years, CATL's net profit increased by less than double from 2.852 billion yuan to 5.583 billion yuan, while P/E increased by nearly 7 times from about 23 times to 179 times at the beginning of its listing. Obviously, the valuation is running faster, or rather, there is a possibility of prematurely depleting the valuation.</p><p>In 2020, the company's net profit growth rate was only 22.43% year-on-year, but riding the wave of Tesla, coupled with the release of medium- and long-term plans for the new energy industry and the concept of carbon neutrality, its stock price soared from more than 100 yuan to more than 350 yuan this year, an increase of more than 200%.</p><p>Compared to its peers, CATL's valuation is not cheap. Take its old rival BYD as an example. In 2020, its net profit was 4.234 billion yuan, its market value was about 530 billion yuan, and its static P/E was 125 times, which was significantly lower than that of CATL. Then look at Panasonic. In 2020, its net profit was equivalent to approximately RMB 10.27 billion, with a static P/E of 22 times. Compared with CATL, it is really as low as dust.</p><p>Even worse, even if we include the three major automakers with the highest market capitalization in the A-share market—BYD, Great Wall Motors, and SAIC Motor—with a combined market capitalization of 1.0881 trillion yuan, CATL's single-handed achievement of a trillion-yuan market capitalization is quite impressive.</p><p>Node Finance believes that since the new energy industry is in a growth stage, CATL's leading position in scale expansion makes it easier to highlight the market share agglomeration effect, resulting in a long-term and long-term development potential.</p><p>According to statistics from South Korean research firm SNEResearch, global electric vehicle battery sales reached 65.9 GWh from January to April this year, with CATL accounting for 32.5% of the market share.</p><p>However, as a major consumer good, automobiles are characterized by low consumption frequency and are not essential needs. This, to some extent, determines that the industry enters a mature stage faster than general consumer goods such as mobile phones and home appliances, and the increase in demand is limited. As the growth rate of shipments in the industrial chain slows down, how much valuation room does CATL still have to overdraw?</p><p>Recently, both Shanghai Securities and Caixin Securities gave CATL a \"cautious overweight\" or \"cautious buy\" rating.</p><p><b>/ 03 /</b></p><p><b>The upcoming wave of lock-up lifting</b></p><p>For short-term investors, CATL's upcoming wave of lock-up releases on June 10th requires particular vigilance.</p><p>As of now, CATL's stock price is 432.21 yuan per share, with a total market capitalization of 1.0068 trillion yuan, making it the first trillion-yuan market capitalization stock on the ChiNext board. The market value of 411.629 billion yuan released from lock-up accounts for 40.88% of CATL's total market value. After the lock-up period expires next week, CATL's circulating shares will increase by 70.18%.</p><p>The shares of CATL that were released from lock-up on June 10 came from five shareholders: Ruiting Investment, Huang Shilin, Li Ping, Dongpeng Weichuang Investment, Lvlianjun, and Industrial M&A Equity Investment Fund Partnership. As of the end of the first quarter of 2021, Ruiting Investment, Huang Shilin, and Li Ping were the first, second, and fifth largest shareholders of CATL, respectively. Among the five shareholders of CATL whose shares will have their lock-up periods released next week, Ruiting Investment has a market value of 247 billion yuan, Huang Shilin has a market value of 112.764 billion yuan, Li Ping has a market value of 48.386 billion yuan, and the other two shareholders have a market value of less than 2 billion yuan.</p><p>Ruiting Investment is the controlling shareholder of CATL, wholly owned by Zeng Yuqun, the founder and chairman of CATL. Huang Shilin and Li Ping are the co-founders and vice chairmen of CATL, with Li Ping and Zeng Yuqun acting in concert.</p><p><b>Detailed information on the lifting of lock-up restrictions on</b></p><p><img src=\"https://static.tigerbbs.com/da24316a386ec8301036b6c656dfc6e0\" tg-width=\"1024\" tg-height=\"281\" referrerpolicy=\"no-referrer\">Generally speaking, the lifting of lock-up periods will create expectations of shareholders reducing their holdings, forcing short-term pressure on the stock price, which is a major negative factor for retail investors.</p><p>So, with the massive release of lock-up shares, can CATL stand firm at the trillion-yuan market capitalization threshold?</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>410 billion yuan! CATL is facing a massive lifting of lock-up restrictions; can it weather the storm safely?</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\">\n410 billion yuan! CATL is facing a massive lifting of lock-up restrictions; can it weather the storm safely?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-06 14:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Recently, CATL, which has been established for ten years, ushered in a milestone leap in its development.</p><p>On June 5, CATL reached a historical high of 439.5 yuan per share during trading, and finally closed at 432.21 yuan per share, with its market capitalization once again exceeding one trillion yuan. On May 31, the company's stock price surged by more than 6% on high volume, and its market value exceeded one trillion yuan for the first time, becoming a new giant in the A-share \"trillion-yuan\" market value club with its technology manufacturing attributes.</p><p><img src=\"https://static.tigerbbs.com/fcb210468635fa704b49b71271c28929\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>However, just as the market was applauding and celebrating CATL, some people saw a \"bubble\".</p><p>On the same day, Morgan Stanley downgraded CATL's rating to \"underweight\" with a target price of only 251 yuan, which is equivalent to a 40% discount to the current stock price of more than 400 yuan.</p><p>Coincidentally, as early as November 2020, Morgan Stanley downgraded CATL's stock rating from overweight to equal weight. The reason given at the time was that the medium-term prospects of new energy batteries had been basically reflected in the stock price, and whether global automakers could launch new models that were popular with the market might not be verified until next year.</p><p>Is it too high or too low? Can CATL, which has reached the \"summit,\" still catch up? For investors, there are at least three hidden dangers that require attention.</p><p><b>/ 01 /</b></p><p><b>Profitability is on a downward trend.</b></p><p>As a leader in the power battery industry, CATL has benefited from the high prosperity of the industry and the high valuation premium given to leading companies by the market. Since its listing, it has enjoyed the treatment of being \"favored\" by institutions, and its stock price has continued to rise.</p><p>Looking at the daily chart, it can be seen that from its listing on the ChiNext board on June 11, 2018, to June 4, 2021, the company's stock price has generally shown a rapid upward trend. Compared to its initial offering price of 25.14 yuan per share, CATL's stock price has increased by 1592% in the past three years.</p><p>However, despite the soaring stock price, CATL's profitability continues to decline.</p><p>In 2020, the company sold 44.45 GWh of power battery systems, a year-on-year increase of 10.43%, generating revenue of RMB 39.426 billion, a year-on-year increase of 2.18%. The fact that revenue growth is slower than sales growth indicates that product prices are declining.</p><p>On the other hand, due to rising commodity prices since the second half of 2020, CATL's main raw materials, lithium carbonate and cobalt, have both seen increases of more than 20%, increasing cost control pressure.</p><p>A slight increase in revenue and a significant increase in costs put some pressure on profits. In 2020, CATL's gross profit margin was 27.76%, a decrease of 1.3 percentage points compared to 29.06% in 2019.</p><p>Node Finance's review of financial reports revealed that this is not the first time CATL's gross profit margin has declined. In fact, since its listing, CATL's gross profit margin has remained on a downward trend.</p><p><img src=\"https://static.tigerbbs.com/221a2154223564669e02d5c5d597485c\" tg-width=\"550\" tg-height=\"392\" referrerpolicy=\"no-referrer\">Data source: CATL financial report, Eastmoney choice</p><p>As shown in the chart above, from 2016 to 2020, the company's gross profit margin decreased from 43.7% to 27.76%, a decrease of 15.94 percentage points in five years. Compared to the situation before the listing, the company's gross profit margin increased from 25.73% to 43.7% from 2014 to 2016, and its profitability differed significantly before and after the listing.</p><p>In response, CATL also stated in its financial report that if factors such as intensified market competition or industry policy adjustments cause adverse changes in the company's product prices and raw material procurement prices in the future, the company's gross profit margin risks declining.</p><p>In the first quarter of 2021, the company's gross profit margin was 27.28%, an increase of 2.19 percentage points compared with the same period of the previous year. It has not yet recovered to the gross profit margin level of the first quarter of 2019 before the outbreak of the pandemic, but it decreased by 1.08 percentage points quarter-on-quarter.</p><p>At the same time, the company's ability to return to shareholders has weakened, with its weighted return on equity (ROE) decreasing from 69.55% in 2016 to 11.27% in 2020.</p><p>However, none of this seems to have affected the capital market's enthusiasm for CATL, with its valuation soaring like a wild horse.</p><p><b>/ 02 /</b></p><p><b>Valuations are \"galloping\"</b></p><p>Based on CATL's net profit of 1.954 billion yuan in the first quarter of this year, CATL's corresponding rolling P/E is 149 times, which is the highest value in history; Based on a net profit of 5.583 billion yuan in 2020, CATL's static P/E is 179 times, which is also the highest value in history.</p><p>Even according to the consensus earnings forecasts given by securities firms, the company's net profit in 2023 is expected to be 20 billion yuan, corresponding to a 51-fold P/E, which is still a figure within the 5-year valuation central range.</p><p>Considering the performance, from 2016 to 2020, in five years, CATL's net profit increased by less than double from 2.852 billion yuan to 5.583 billion yuan, while P/E increased by nearly 7 times from about 23 times to 179 times at the beginning of its listing. Obviously, the valuation is running faster, or rather, there is a possibility of prematurely depleting the valuation.</p><p>In 2020, the company's net profit growth rate was only 22.43% year-on-year, but riding the wave of Tesla, coupled with the release of medium- and long-term plans for the new energy industry and the concept of carbon neutrality, its stock price soared from more than 100 yuan to more than 350 yuan this year, an increase of more than 200%.</p><p>Compared to its peers, CATL's valuation is not cheap. Take its old rival BYD as an example. In 2020, its net profit was 4.234 billion yuan, its market value was about 530 billion yuan, and its static P/E was 125 times, which was significantly lower than that of CATL. Then look at Panasonic. In 2020, its net profit was equivalent to approximately RMB 10.27 billion, with a static P/E of 22 times. Compared with CATL, it is really as low as dust.</p><p>Even worse, even if we include the three major automakers with the highest market capitalization in the A-share market—BYD, Great Wall Motors, and SAIC Motor—with a combined market capitalization of 1.0881 trillion yuan, CATL's single-handed achievement of a trillion-yuan market capitalization is quite impressive.</p><p>Node Finance believes that since the new energy industry is in a growth stage, CATL's leading position in scale expansion makes it easier to highlight the market share agglomeration effect, resulting in a long-term and long-term development potential.</p><p>According to statistics from South Korean research firm SNEResearch, global electric vehicle battery sales reached 65.9 GWh from January to April this year, with CATL accounting for 32.5% of the market share.</p><p>However, as a major consumer good, automobiles are characterized by low consumption frequency and are not essential needs. This, to some extent, determines that the industry enters a mature stage faster than general consumer goods such as mobile phones and home appliances, and the increase in demand is limited. As the growth rate of shipments in the industrial chain slows down, how much valuation room does CATL still have to overdraw?</p><p>Recently, both Shanghai Securities and Caixin Securities gave CATL a \"cautious overweight\" or \"cautious buy\" rating.</p><p><b>/ 03 /</b></p><p><b>The upcoming wave of lock-up lifting</b></p><p>For short-term investors, CATL's upcoming wave of lock-up releases on June 10th requires particular vigilance.</p><p>As of now, CATL's stock price is 432.21 yuan per share, with a total market capitalization of 1.0068 trillion yuan, making it the first trillion-yuan market capitalization stock on the ChiNext board. The market value of 411.629 billion yuan released from lock-up accounts for 40.88% of CATL's total market value. After the lock-up period expires next week, CATL's circulating shares will increase by 70.18%.</p><p>The shares of CATL that were released from lock-up on June 10 came from five shareholders: Ruiting Investment, Huang Shilin, Li Ping, Dongpeng Weichuang Investment, Lvlianjun, and Industrial M&A Equity Investment Fund Partnership. As of the end of the first quarter of 2021, Ruiting Investment, Huang Shilin, and Li Ping were the first, second, and fifth largest shareholders of CATL, respectively. Among the five shareholders of CATL whose shares will have their lock-up periods released next week, Ruiting Investment has a market value of 247 billion yuan, Huang Shilin has a market value of 112.764 billion yuan, Li Ping has a market value of 48.386 billion yuan, and the other two shareholders have a market value of less than 2 billion yuan.</p><p>Ruiting Investment is the controlling shareholder of CATL, wholly owned by Zeng Yuqun, the founder and chairman of CATL. Huang Shilin and Li Ping are the co-founders and vice chairmen of CATL, with Li Ping and Zeng Yuqun acting in concert.</p><p><b>Detailed information on the lifting of lock-up restrictions on</b></p><p><img src=\"https://static.tigerbbs.com/da24316a386ec8301036b6c656dfc6e0\" tg-width=\"1024\" tg-height=\"281\" referrerpolicy=\"no-referrer\">Generally speaking, the lifting of lock-up periods will create expectations of shareholders reducing their holdings, forcing short-term pressure on the stock price, which is a major negative factor for retail investors.</p><p>So, with the massive release of lock-up shares, can CATL stand firm at the trillion-yuan market capitalization threshold?</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0a520115dfc7edeb93cc3cdf6a15df14","relate_stocks":{"300750":"宁德时代"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141004294","content_text":"近日，成立十年的宁德时代迎来了其发展中的一次里程碑式跨越。6月5日，宁德时代股份盘中一度达到439.5元/股的历史最高值，最终收盘于432.21元/股，市值再度突破万亿元。此前不久的5月31日，该公司股价放量大涨超过6％，市值首次破万亿，成为以科技制造业属性跻身A股“万亿”市值俱乐部的新巨头。不过，就在市场为宁德时代“拍手庆贺”的空档，有人却看到了“泡沫”。同一天，摩根士丹利将宁德时代评级下调至“低配”，目标价仅为251元，相当于给目前400多元的股价直接打了六折。无独有偶，早在2020年11月，大摩就曾将宁德时代的股票评级从超配下调至平配，当时给出的理由是，新能源电池的中期前景已基本反应在股价中，而且全球的汽车厂能否推出受市场欢迎的新车型情况可能要到明年才能被验证。究竟是高了还是低了？站上“山顶”的宁德时代还能不能追？对于投资者来说，至少有三重隐患是需要关注的。/ 01 /盈利能力处在下行通道作为动力电池行业的龙头，受益于行业景气度高，市场给予头部公司较高的估值溢价，宁德时代自上市以来便享受到了被机构“团宠”的待遇，簇拥其股价不断上扬。拉长日线可见，从2018年6月11日登陆创业板开始，截止2021年6月4日，公司股价整体呈快速上升趋势。相较上市之初25.14元/股的发行价，宁德时代近三年的股价涨幅达到1592%。但在股价节节走高的背后，宁德时代的盈利能力却在持续下滑。2020年，公司销售动力电池系统44.45GWh，同比增长10.43%，带来收入394.26亿元，同比增长2.18%。收入增速不及销量增速，说明产品价格在下降。另一边，囿于2020年下半年以来大宗商品涨价，宁德时代主要生产原材料中碳酸锂及钴涨幅都超过20%，成本控制压力加大。收入微涨，成本大增，对利润造成一定挤压，2020年宁德时代的毛利率为27.76%，同比2019年的29.06%减少1.3个百分点。节点财经查阅财报发现，这并不是宁德时代毛利率初次下滑。事实上，自上市后，宁德时代的毛利率便一直停留在下行通道。数据来源：宁德时代财报、东方财富choice如上图所示，2016年至2020年，公司毛利率从43.7%下降至27.76%，五年少赚15.94个百分点。对比上市前的状态，2014年至2016年，公司毛利率从25.73%提升到43.7%，其盈利能力在上市前后分化明显。对此，宁德时代也在财报中表示，若未来市场竞争加剧或行业政策调整等因素使得公司产品售价及原材料采购价格发生不利变化，公司毛利率存在下降的风险。2021年一季度，公司毛利率为27.28%，较上年同期增加2.19个百分点，尚未恢复到疫情发生前2019年一季度毛利率水平，环比则减少1.08个百分点。于此同时，公司对股东的回报能力趋弱，其加权净资产收益率（ROE）从2016年的69.55%下降至2020年11.27%。不过，这似乎都没有影响到资本市场对宁德时代的追捧，估值如脱缰的野马一路飞奔。/ 02 /估值“策马狂奔”按照今年一季度净利润19.54亿元计算，宁德时代对应的滚动市盈率为149倍，处于历史最高值；按照2020年净利润55.83亿元计算，宁德时代对应的静态市盈率为179倍，同样处于历史最高值。即使按照券商给出的一致业绩预测，公司2023年净利润预计为200亿，对应51倍市盈率，这仍是一个处在5年估值中枢区间内的数值。结合业绩，2016年-2020年，五年时间，宁德时代净利润从28.52亿元到55.83亿元，涨了不到1 倍，市盈率从上市之初约23倍到179倍，涨了接近7倍，显然估值跑的更快，或者说有提前消耗估值的可能。2020年，公司净利润同比增速不过22.43%，但搭上特斯拉的“顺风车”，叠加新能源产业中长期规划发布，碳中和概念等，其年内股价从100多元狂飙到350多元，涨幅超过200%。对比同行，宁德时代的估值更是不便宜。就拿老对手比亚迪来说，2020年净利润42.34亿元，市值约5300亿元，静态市盈率125倍，显著低于宁德时代；再看看松下，2020年净利润折合人民币约102.7亿元，静态市盈率22倍，和宁德时代一比，真的要低到尘埃里了。更甚者，就算拉来目前A股市值最高的三大主车厂，比亚迪、长城汽车和上汽集团，三者合计市值10881亿元，宁德时代以一人之力创出万亿市值，相当彪悍。节点财经认为，由于新能源行业正处在成长期，宁德时代以龙头地位下的规模扩张优势，较容易凸显出市占率聚集效应，导致发展空间被看远、看久。韩国研究机构SNEResearch统计，今年1-4月，全球电动汽车电池销量65.9Gwh，其中宁德时代占有32.5%的份额。然而，作为大宗消费品，汽车具有消费频次低，非刚需等特点，这又在一定程度上决定了该行业进入成熟期的速度要快于手机、家电等一般消费品，且需求增量有限，随着产业链出货量增速放缓，宁德时代还有多少估值空间可以透支？近期，上海证券、财信证券均给予宁德时代“谨慎增持”或“谨慎推荐”评级。/ 03 /即将到来的解禁潮对短期投资者来说，宁德时代即将于6月10日迎来的一波解禁巨浪是需要特别警惕的。截至目前，宁德时代股价为432.21元/股，总市值为10068亿元，为创业板首只万亿市值个股。4116.29亿元的解禁市值占宁德时代总市值的40.88%，下周解禁后，宁德时代流通盘将大增70.18%。宁德时代6月10日解禁的股份来自于5名股东，分别为瑞庭投资、黄世霖、李平、东鹏伟创投资、绿联君和产业并购股权投资基金合伙企业，截至2021年一季度末，瑞庭投资、黄世霖、李平分列宁德时代第一、第二、第五大股东。在宁德时代下周解禁的5个股东中，瑞庭投资解禁市值达2470亿元，黄世霖解禁市值达1127.64亿元，李平解禁市值达483.86亿元，其他两名股东解禁市值不足20亿元。瑞庭投资为宁德时代控股股东，由宁德时代创始人、董事长曾毓群100%控股，黄世霖、李平为宁德时代联合创始人、副董事长，其中李平和曾毓群为一致行动人。宁德时代解禁详细信息一般来说，解禁会形成股东减持预期，迫使盘面股价短期承压，属于对散户们的重大利空。那么，巨量解禁之下，宁德时代在万亿市值的关口能够站得稳吗？","news_type":1,"symbols_score_info":{"300750":0.9}},"isVote":1,"tweetType":1,"viewCount":2153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}