JacAng personal page - To The Moon

JacAng

JacAng

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2021-07-02

This is good!

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2021-07-01

Great!

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2021-06-30

Great

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2021-06-24

Time in mkt!

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2021-06-16

Good advice

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2021-06-01

Good news for the fight against the pandemic!

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2021-06-01

Good advice

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2021-05-31

Buy?

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2021-05-30

What is new?

Tesla shares dip on recall rumors

2021-05-30

Do something constructive!

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2021-05-30

Need to work for it

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2021-05-28

Be inclusive!

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2021-05-28

Never stops reinventing!

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2021-05-28

Good to generate competition!

Airbus Sets Plan to Boost Output, Igniting Aerospace Rally

2021-05-28

Not everyone is as 'lucky'!

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2021-05-26

Green

Why Beyond Meat could see a big boost in sales beyond the pandemic

2021-05-26

Good infor

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2021-05-26

Good infor

Investing in China stocks in 2021? Here are 8 things investors should know

2021-05-26

Good infor

Investing in China stocks in 2021? Here are 8 things investors should know

2021-05-26

Time to go up!

Xiaomi Corp's 1Q Results Beat Estimates

Go to Tiger App to see more news

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is new?","listText":"What is new?","text":"What is new?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/137281608","repostId":"2138765488","repostType":4,"repost":{"id":"2138765488","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1622215232,"share":"https://ttm.financial/m/news/2138765488?lang=&edition=fundamental","pubTime":"2021-05-28 23:20","market":"us","language":"en","title":"Tesla shares dip on recall rumors","url":"https://stock-news.laohu8.com/highlight/detail?id=2138765488","media":"Reuters","summary":"May 28  - Shares of Tesla Inc fell more than 1% on Friday after an unverified tweet said 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style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-28 23:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>May 28 (Reuters) - Shares of Tesla Inc&nbsp;fell more than 1% on Friday after an unverified tweet&nbsp;said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.</p><p><img src=\"https://static.tigerbbs.com/ba675bb3c29017bd5165f1d31830b19e\" tg-width=\"794\" tg-height=\"614\" referrerpolicy=\"no-referrer\"></p><p>Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the tweet.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138765488","content_text":"May 28 (Reuters) - Shares of Tesla Inc fell more than 1% on Friday after an unverified tweet said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the 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inclusive!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/134840419","repostId":"2138488613","repostType":4,"isVote":1,"tweetType":1,"viewCount":954,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134854993,"gmtCreate":1622217331312,"gmtModify":1704181793599,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Never stops reinventing!","listText":"Never stops reinventing!","text":"Never stops reinventing!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/134854993","repostId":"2138610425","repostType":4,"isVote":1,"tweetType":1,"viewCount":948,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135329485,"gmtCreate":1622132937947,"gmtModify":1704180147888,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Good to generate competition!","listText":"Good to generate competition!","text":"Good to generate competition!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135329485","repostId":"1121857498","repostType":4,"repost":{"id":"1121857498","kind":"news","pubTimestamp":1622126802,"share":"https://ttm.financial/m/news/1121857498?lang=&edition=fundamental","pubTime":"2021-05-27 22:46","market":"us","language":"en","title":"Airbus Sets Plan to Boost Output, Igniting Aerospace Rally","url":"https://stock-news.laohu8.com/highlight/detail?id=1121857498","media":"Bloomberg","summary":"Airbus SE said it’s preparing to gear up production of its best-selling A320-series jets beyond pre-","content":"<p>Airbus SE said it’s preparing to gear up production of its best-selling A320-series jets beyond pre-pandemic levels within two years, sending a jolt of optimism into an aviation sector primed for a global recovery.</p><p>Aerospace shares jumped in Europe and the U.S. after the world’s largest maker of commercial jetliners told suppliers to be ready to raise output of the narrow-body planes to a rate of 64 per month by the second quarter of 2023.</p><p>That figure could rise to 70 a month early the following year, with 75 a possibility by 2025, Airbus said in a statement Thursday. Reaching that level would almost double its current, pandemic-depressed output.</p><p>The ambitious plan stands out in an industry that’s still struggling to gain traction after Covid-19 wiped out demand for air travel. Despite short-term flareups in the pandemic, the longer-term picture has brightened with the global rollout of vaccines. Airbus and U.S. rival Boeing Co. have been showing more confidence as airlines ramp up schedules for shorter flights. Still, the industry faces its next challenge with pressure to lower carbon emissions.</p><p>“We think it is premature, but Airbus is the one with a constant dialog with airline customers, and it has called things pretty well to date,” said Sandy Morris, an analyst with Jefferies. He said he’s concerned about further disruption from the pandemic and initiatives to cut emissions. “Nonetheless, Airbus will know all that too.”</p><p>Airbus shares surged 10% to 107.50 euros in Paris for their biggest intraday gain since November. In Europe, engine and component supplier Safran SA rose 4.6%, while Rolls-Royce Holdings Plc, which provides turbines for bigger planes, advanced 4.8%.</p><p>Chicago-based Boeing was up 4.1% at 10:02 a.m. in New York, after the head of Southwest Airlines Co., a big 737 customer, told the Dallas Morning News the discount carrier could grow by “hundreds of planes.” Engine supplier General Electric Co. added 4%, while Raytheon Technologies Corp., which owns Pratt &amp; Whitney, gained 1.8%.</p><p>Web of Suppliers</p><p>The Airbus announcement will give makers of parts ranging from engines to seats and avionics time to invest and be ready when demand returns.</p><p>Airbus’s comments are aimed partly at stress-testing its vast web of suppliers to ensure they can meet higher targets, while signaling to customers that it can comply with delivery requirements and won’t be open to order deferrals or cancellations, said Agency Partners analyst Sash Tusa.</p><p>Airbus and Boeing count on thousands of manufacturers who contribute to making commercial jetliners that can cost $100 million or more.</p><p>“The message to our supplier community provides visibility to the entire industrial ecosystem to secure the necessary capabilities and be ready when market conditions call for it,” Airbus Chief Executive Officer Guillaume Faury said in the statement.</p><p>Near-Term Jump</p><p>Airbus, based in Toulouse, France, has widened its lead in single-aisle planes over Boeing during the pandemic.</p><p>With Thursday’s announcement, the company confirmed earlier plans to raise production to 43 A320-family planes per month in the third quarter of this year, reaching 45 in the fourth quarter. The figure stands at 40 per month now, a third lower than it was when the outbreak hit in early 2020.</p><p>Airbus also plans to boost output of the smaller A220 to six per month from five in early 2022, with a 14 a month envisioned by the middle of the decade. Hitting that target will require significant further orders, Tusa said.</p><p>Boeing has also made progress getting past a global grounding of its 737 Max, the chief rival to the A320. The U.S. planemaker reiterated late last month that it plans to gradually increase production of the single-aisle jet to 31 a month in early 2022.</p><p>Wide-Body Plans</p><p>Larger twin-aisle aircraft are expected to take longer to recover as long-distance travel lags behind the rebound in regional hops. Airbus said it will keep production of its A330 planes at two per month, while looking to lift A350 output to six per month from five in the second half of 2022. Both are powered by Rolls-Royce engines.</p><p>In signaling to suppliers to prepare for the ramp-up, Airbus will be hoping to avoid a repeat of the reversal suffered after it announced an increase in production last October as coronavirus lockdowns were first lifted.</p><p>When a new wave of infection emerged it slowed down its plans in January, retreating from goal of reaching 47 A320s a month by July.</p><p>Faury will also want to be sure that both suppliers and Airbus’s own factories can cope with the stresses of record monthly rates. Airbus suffered delays in handovers prior to the pandemic as it struggled to comply with customization requests for the A321 version, prompting a cut to the 2019 delivery target.</p><p>Earlier this month, Airbus said that it had restarted work converting a French assembly line once used for its A380 super-jumbo to build single-aisle jets. It should be operational by the end of 2022.</p><p>Back in 2018, Airbus had been touting build rates of 70 or even 75 a month, but under Faury it reined in those ambitions. When the pandemic hit, the plan was to lift A320 series production to 63 a month, with Airbus looking at adding a further one or two to the total.</p>","source":"lsy1612507957220","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>Airbus Sets Plan to Boost Output, Igniting Aerospace Rally</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nAirbus Sets Plan to Boost Output, Igniting Aerospace Rally\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/airbus-sets-plan-boost-output-143418797.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Airbus SE said it’s preparing to gear up production of its best-selling A320-series jets beyond pre-pandemic levels within two years, sending a jolt of optimism into an aviation sector primed for a ...</p>\n\n<a href=\"https://finance.yahoo.com/news/airbus-sets-plan-boost-output-143418797.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/airbus-sets-plan-boost-output-143418797.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121857498","content_text":"Airbus SE said it’s preparing to gear up production of its best-selling A320-series jets beyond pre-pandemic levels within two years, sending a jolt of optimism into an aviation sector primed for a global recovery.Aerospace shares jumped in Europe and the U.S. after the world’s largest maker of commercial jetliners told suppliers to be ready to raise output of the narrow-body planes to a rate of 64 per month by the second quarter of 2023.That figure could rise to 70 a month early the following year, with 75 a possibility by 2025, Airbus said in a statement Thursday. Reaching that level would almost double its current, pandemic-depressed output.The ambitious plan stands out in an industry that’s still struggling to gain traction after Covid-19 wiped out demand for air travel. Despite short-term flareups in the pandemic, the longer-term picture has brightened with the global rollout of vaccines. Airbus and U.S. rival Boeing Co. have been showing more confidence as airlines ramp up schedules for shorter flights. Still, the industry faces its next challenge with pressure to lower carbon emissions.“We think it is premature, but Airbus is the one with a constant dialog with airline customers, and it has called things pretty well to date,” said Sandy Morris, an analyst with Jefferies. He said he’s concerned about further disruption from the pandemic and initiatives to cut emissions. “Nonetheless, Airbus will know all that too.”Airbus shares surged 10% to 107.50 euros in Paris for their biggest intraday gain since November. In Europe, engine and component supplier Safran SA rose 4.6%, while Rolls-Royce Holdings Plc, which provides turbines for bigger planes, advanced 4.8%.Chicago-based Boeing was up 4.1% at 10:02 a.m. in New York, after the head of Southwest Airlines Co., a big 737 customer, told the Dallas Morning News the discount carrier could grow by “hundreds of planes.” Engine supplier General Electric Co. added 4%, while Raytheon Technologies Corp., which owns Pratt & Whitney, gained 1.8%.Web of SuppliersThe Airbus announcement will give makers of parts ranging from engines to seats and avionics time to invest and be ready when demand returns.Airbus’s comments are aimed partly at stress-testing its vast web of suppliers to ensure they can meet higher targets, while signaling to customers that it can comply with delivery requirements and won’t be open to order deferrals or cancellations, said Agency Partners analyst Sash Tusa.Airbus and Boeing count on thousands of manufacturers who contribute to making commercial jetliners that can cost $100 million or more.“The message to our supplier community provides visibility to the entire industrial ecosystem to secure the necessary capabilities and be ready when market conditions call for it,” Airbus Chief Executive Officer Guillaume Faury said in the statement.Near-Term JumpAirbus, based in Toulouse, France, has widened its lead in single-aisle planes over Boeing during the pandemic.With Thursday’s announcement, the company confirmed earlier plans to raise production to 43 A320-family planes per month in the third quarter of this year, reaching 45 in the fourth quarter. The figure stands at 40 per month now, a third lower than it was when the outbreak hit in early 2020.Airbus also plans to boost output of the smaller A220 to six per month from five in early 2022, with a 14 a month envisioned by the middle of the decade. Hitting that target will require significant further orders, Tusa said.Boeing has also made progress getting past a global grounding of its 737 Max, the chief rival to the A320. The U.S. planemaker reiterated late last month that it plans to gradually increase production of the single-aisle jet to 31 a month in early 2022.Wide-Body PlansLarger twin-aisle aircraft are expected to take longer to recover as long-distance travel lags behind the rebound in regional hops. Airbus said it will keep production of its A330 planes at two per month, while looking to lift A350 output to six per month from five in the second half of 2022. Both are powered by Rolls-Royce engines.In signaling to suppliers to prepare for the ramp-up, Airbus will be hoping to avoid a repeat of the reversal suffered after it announced an increase in production last October as coronavirus lockdowns were first lifted.When a new wave of infection emerged it slowed down its plans in January, retreating from goal of reaching 47 A320s a month by July.Faury will also want to be sure that both suppliers and Airbus’s own factories can cope with the stresses of record monthly rates. Airbus suffered delays in handovers prior to the pandemic as it struggled to comply with customization requests for the A321 version, prompting a cut to the 2019 delivery target.Earlier this month, Airbus said that it had restarted work converting a French assembly line once used for its A380 super-jumbo to build single-aisle jets. It should be operational by the end of 2022.Back in 2018, Airbus had been touting build rates of 70 or even 75 a month, but under Faury it reined in those ambitions. When the pandemic hit, the plan was to lift A320 series production to 63 a month, with Airbus looking at adding a further one or two to the total.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1100,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135386433,"gmtCreate":1622131386722,"gmtModify":1704180125355,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Not everyone is as 'lucky'!","listText":"Not everyone is as 'lucky'!","text":"Not everyone is as 'lucky'!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135386433","repostId":"2138517320","repostType":4,"isVote":1,"tweetType":1,"viewCount":799,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136514175,"gmtCreate":1622027930197,"gmtModify":1704178089668,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Green","listText":"Green","text":"Green","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136514175","repostId":"2138199591","repostType":4,"repost":{"id":"2138199591","kind":"highlight","pubTimestamp":1622022666,"share":"https://ttm.financial/m/news/2138199591?lang=&edition=fundamental","pubTime":"2021-05-26 17:51","market":"us","language":"en","title":"Why Beyond Meat could see a big boost in sales beyond the pandemic","url":"https://stock-news.laohu8.com/highlight/detail?id=2138199591","media":"MarketWatch","summary":"Beyond Meat stock soars 10% after analyst upgrade\nDiners heading back to restaurants will expand acc","content":"<p>Beyond Meat stock soars 10% after analyst upgrade</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34b2f7a57915bc05128da8a8e8c2a794\" tg-width=\"1260\" tg-height=\"880\"><span>Diners heading back to restaurants will expand access to Beyond Meat beyond the grocery store. AFP VIA GETTY IMAGES</span></p>\n<p>Beyond Meat Inc. has been squeezed by the COVID-19 pandemic, but with the vaccine rollout driving the return to restaurants, Bernstein analysts are upbeat about the plant-based meat company's prospects.</p>\n<p>Bernstein upgraded Beyond Meat <a href=\"https://laohu8.com/S/BYND\">$(BYND)$</a> to outperform from underperform in a note published Monday, calling the company \"a reopening play that stands toregain meaningful momentum over the coming quarters.\"</p>\n<p>Bernstein has a $130 price target on Beyond Meat.</p>\n<p>Shares of the plant-based meat company soared 10% in Monday trading after the upgrade.</p>\n<p>One consequence of increased dining at home has been a rise in competition at the grocery store. Impossible Foods, which has been expanding in the retail channel as well as in restaurants, has benefited.</p>\n<p>There are reports that Impossible Foods is preparing for a $10 billion IPO .</p>\n<p>Beyond Meat has partnerships with McDonald's Corp. <a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>, as well as a number of other big chains , along with its own expanding retail availability.</p>\n<p>\"The drop off in foodservice sales had a very direct impact on the business domestically and internationally, and this in turn led to a marked acceleration in Impossible Foods' efforts to expand in retail channels,\" wrote Bernstein analysts led by Alexia Howard.</p>\n<p>\"We expect foodservice channels to rebound as consumer mobility improves post the pandemic and this should also lead to decreased competition in the U.S. retail channel.\"</p>\n<p>Moreover, Bernstein highlights the international expansion that will come with a new Dutch facility and the aforementioned McDonald's deal.</p>\n<p>In addition to the growing access, Beyond Meat, and the plant-based alternatives category more broadly, is getting a boost from consumer trends that favor fewer animal proteins for health and environmental purposes.</p>\n<p>\"Diets constantly evolve, and consumers are increasingly adhering to diets that limit animal products in some way,\" according to a report from Technomic, a data and analytics provider for the food-service industry.</p>\n<p>The flexitarian diet allows for a variety of animal-based items, and therefore isn't as strict as vegetarianism or veganism.</p>\n<p>\"The flexitarian diet has increased the most since 2018 and has the highest adherence, likely because it's the most accommodating and customizable,\" Technomic said.</p>\n<p>Even as diners head back out after a year of preparing most of their meals at home, Bernstein expects plant-based items to still populate plates.</p>\n<p>\"[W]hile meat alternatives as a category are clearly still being buoyed by the relative strength of food at home vs. food away from home and we would expect this to fade as reopening happens and foodservice channels open up, it certainly doesn't seem as though momentum for plant-based meats has evaporated during the pandemic,\" analysts said.</p>\n<p>Beyond Meat stock has fallen 4.3% for the year to date while the benchmark S&amp;P 500 index is up 11.5% for the period.</p>","source":"lsy1603348471595","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>Why Beyond Meat could see a big boost in sales beyond the pandemic</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nWhy Beyond Meat could see a big boost in sales beyond the pandemic\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 17:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/restaurant-resurgence-will-put-beyond-meat-back-on-track-analyst-says-11621887221?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Beyond Meat stock soars 10% after analyst upgrade\nDiners heading back to restaurants will expand access to Beyond Meat beyond the grocery store. AFP VIA GETTY IMAGES\nBeyond Meat Inc. has been squeezed...</p>\n\n<a href=\"https://www.marketwatch.com/story/restaurant-resurgence-will-put-beyond-meat-back-on-track-analyst-says-11621887221?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.marketwatch.com/story/restaurant-resurgence-will-put-beyond-meat-back-on-track-analyst-says-11621887221?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138199591","content_text":"Beyond Meat stock soars 10% after analyst upgrade\nDiners heading back to restaurants will expand access to Beyond Meat beyond the grocery store. AFP VIA GETTY IMAGES\nBeyond Meat Inc. has been squeezed by the COVID-19 pandemic, but with the vaccine rollout driving the return to restaurants, Bernstein analysts are upbeat about the plant-based meat company's prospects.\nBernstein upgraded Beyond Meat $(BYND)$ to outperform from underperform in a note published Monday, calling the company \"a reopening play that stands toregain meaningful momentum over the coming quarters.\"\nBernstein has a $130 price target on Beyond Meat.\nShares of the plant-based meat company soared 10% in Monday trading after the upgrade.\nOne consequence of increased dining at home has been a rise in competition at the grocery store. Impossible Foods, which has been expanding in the retail channel as well as in restaurants, has benefited.\nThere are reports that Impossible Foods is preparing for a $10 billion IPO .\nBeyond Meat has partnerships with McDonald's Corp. $(MCD)$, as well as a number of other big chains , along with its own expanding retail availability.\n\"The drop off in foodservice sales had a very direct impact on the business domestically and internationally, and this in turn led to a marked acceleration in Impossible Foods' efforts to expand in retail channels,\" wrote Bernstein analysts led by Alexia Howard.\n\"We expect foodservice channels to rebound as consumer mobility improves post the pandemic and this should also lead to decreased competition in the U.S. retail channel.\"\nMoreover, Bernstein highlights the international expansion that will come with a new Dutch facility and the aforementioned McDonald's deal.\nIn addition to the growing access, Beyond Meat, and the plant-based alternatives category more broadly, is getting a boost from consumer trends that favor fewer animal proteins for health and environmental purposes.\n\"Diets constantly evolve, and consumers are increasingly adhering to diets that limit animal products in some way,\" according to a report from Technomic, a data and analytics provider for the food-service industry.\nThe flexitarian diet allows for a variety of animal-based items, and therefore isn't as strict as vegetarianism or veganism.\n\"The flexitarian diet has increased the most since 2018 and has the highest adherence, likely because it's the most accommodating and customizable,\" Technomic said.\nEven as diners head back out after a year of preparing most of their meals at home, Bernstein expects plant-based items to still populate plates.\n\"[W]hile meat alternatives as a category are clearly still being buoyed by the relative strength of food at home vs. food away from home and we would expect this to fade as reopening happens and foodservice channels open up, it certainly doesn't seem as though momentum for plant-based meats has evaporated during the pandemic,\" analysts said.\nBeyond Meat stock has fallen 4.3% for the year to date while the benchmark S&P 500 index is up 11.5% for the period.","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":1283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136515934,"gmtCreate":1622027843828,"gmtModify":1704178088027,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Good infor","listText":"Good infor","text":"Good infor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136515934","repostId":"1142524290","repostType":4,"isVote":1,"tweetType":1,"viewCount":1385,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136512531,"gmtCreate":1622027805323,"gmtModify":1704178087697,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Good infor","listText":"Good infor","text":"Good infor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136512531","repostId":"1142524290","repostType":4,"repost":{"id":"1142524290","kind":"news","pubTimestamp":1622016666,"share":"https://ttm.financial/m/news/1142524290?lang=&edition=fundamental","pubTime":"2021-05-26 16:11","market":"sh","language":"en","title":"Investing in China stocks in 2021? Here are 8 things investors should know","url":"https://stock-news.laohu8.com/highlight/detail?id=1142524290","media":"The Fifth Person","summary":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through ","content":"<p><img src=\"https://static.tigerbbs.com/2a8c0424e9949959e109c349918f9214\" tg-width=\"780\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.</p><p><b>1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.</b>Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.</p><p>Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.</p><p>With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)</p><p>It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.</p><table><thead><tr><th>SHARE CLASS</th><th>DEFINITION</th><th>STOCK EXCHANGE (CURRENCY)</th></tr></thead><tbody><tr><td>A</td><td>China securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).</td><td>Shanghai (RMB), Shenzen (RMB)</td></tr><tr><td>B</td><td>China securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).</td><td>Shanghai (USD), Shenzhen (HKD)</td></tr><tr><td>H</td><td>China securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Red-Chips</td><td>China securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>P-Chips</td><td>China securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Listed Overseas</td><td>China securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).</td><td>New York (USD), Singapore (SGD)</td></tr></tbody></table><p><i>Source:MSCI</i></p><p><b>2. Inclusion of China A-shares in the MSCI Emerging Index.</b>MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d589e0bc0f99baaa7aac9f300c998d46\" tg-width=\"769\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source:MSCI</span></p><p>Based on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.</p><p>As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.</p><p><b>3. Significant expansion of China’s capital markets.</b>The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2319859429c4f77a557d576d123cbb14\" tg-width=\"1000\" tg-height=\"584\" referrerpolicy=\"no-referrer\"><span>Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista</span></p><p><b>4. Chinese companies are becoming more market-oriented</b></p><p>Once largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.</p><p>However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.</p><p>An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e80728bb190c08bcd57f4e1aae9eb6f\" tg-width=\"793\" tg-height=\"384\" referrerpolicy=\"no-referrer\"><span>Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 2020</span></p><p><b>5. China markets are highly liquid.</b>Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.</p><p>This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ede208260949b6ed752a53512221d0df\" tg-width=\"1000\" tg-height=\"598\" referrerpolicy=\"no-referrer\"><span>MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World Index</span></p><p>However, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.</p><p><b>6. China equites offer portfolio diversification</b>. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e644c93e282f324321bef4392d05f52d\" tg-width=\"961\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&amp;P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.</span></p><p>Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.</p><p><b>7. Chinese trends that investors should pay attention to.</b>As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.</p><p>China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.</p><p>Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.</p><p>Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.</p><p><b>8. Risks that investors should heed.</b>Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.</p><p>At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.</p><p>The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.</p><p><b>The fifth perspective</b></p><p>China’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.</p><p>However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets. &nbsp;Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.</p><p>China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.</p><p>The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.</p>","source":"lsy1622016633088","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>Investing in China stocks in 2021? Here are 8 things investors should know</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nInvesting in China stocks in 2021? Here are 8 things investors should know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 16:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://fifthperson.com/china-stocks-2021/><strong>The Fifth Person</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In ...</p>\n\n<a href=\"https://fifthperson.com/china-stocks-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","STI.SI":"富时新加坡海峡指数","000001.SH":"上证指数"},"source_url":"https://fifthperson.com/china-stocks-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142524290","content_text":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.SHARE CLASSDEFINITIONSTOCK EXCHANGE (CURRENCY)AChina securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).Shanghai (RMB), Shenzen (RMB)BChina securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).Shanghai (USD), Shenzhen (HKD)HChina securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Red-ChipsChina securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)P-ChipsChina securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Listed OverseasChina securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).New York (USD), Singapore (SGD)Source:MSCI2. Inclusion of China A-shares in the MSCI Emerging Index.MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.Source:MSCIBased on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.3. Significant expansion of China’s capital markets.The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista4. Chinese companies are becoming more market-orientedOnce largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 20205. China markets are highly liquid.Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World IndexHowever, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.6. China equites offer portfolio diversification. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.7. Chinese trends that investors should pay attention to.As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.8. Risks that investors should heed.Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.The fifth perspectiveChina’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets.  Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"STI.SI":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":738,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136512217,"gmtCreate":1622027795139,"gmtModify":1704178087369,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Good infor","listText":"Good infor","text":"Good infor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136512217","repostId":"1142524290","repostType":4,"repost":{"id":"1142524290","kind":"news","pubTimestamp":1622016666,"share":"https://ttm.financial/m/news/1142524290?lang=&edition=fundamental","pubTime":"2021-05-26 16:11","market":"sh","language":"en","title":"Investing in China stocks in 2021? Here are 8 things investors should know","url":"https://stock-news.laohu8.com/highlight/detail?id=1142524290","media":"The Fifth Person","summary":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through ","content":"<p><img src=\"https://static.tigerbbs.com/2a8c0424e9949959e109c349918f9214\" tg-width=\"780\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.</p><p><b>1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.</b>Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.</p><p>Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.</p><p>With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)</p><p>It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.</p><table><thead><tr><th>SHARE CLASS</th><th>DEFINITION</th><th>STOCK EXCHANGE (CURRENCY)</th></tr></thead><tbody><tr><td>A</td><td>China securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).</td><td>Shanghai (RMB), Shenzen (RMB)</td></tr><tr><td>B</td><td>China securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).</td><td>Shanghai (USD), Shenzhen (HKD)</td></tr><tr><td>H</td><td>China securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Red-Chips</td><td>China securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>P-Chips</td><td>China securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Listed Overseas</td><td>China securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).</td><td>New York (USD), Singapore (SGD)</td></tr></tbody></table><p><i>Source:MSCI</i></p><p><b>2. Inclusion of China A-shares in the MSCI Emerging Index.</b>MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d589e0bc0f99baaa7aac9f300c998d46\" tg-width=\"769\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source:MSCI</span></p><p>Based on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.</p><p>As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.</p><p><b>3. Significant expansion of China’s capital markets.</b>The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2319859429c4f77a557d576d123cbb14\" tg-width=\"1000\" tg-height=\"584\" referrerpolicy=\"no-referrer\"><span>Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista</span></p><p><b>4. Chinese companies are becoming more market-oriented</b></p><p>Once largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.</p><p>However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.</p><p>An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e80728bb190c08bcd57f4e1aae9eb6f\" tg-width=\"793\" tg-height=\"384\" referrerpolicy=\"no-referrer\"><span>Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 2020</span></p><p><b>5. China markets are highly liquid.</b>Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.</p><p>This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ede208260949b6ed752a53512221d0df\" tg-width=\"1000\" tg-height=\"598\" referrerpolicy=\"no-referrer\"><span>MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World Index</span></p><p>However, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.</p><p><b>6. China equites offer portfolio diversification</b>. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e644c93e282f324321bef4392d05f52d\" tg-width=\"961\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&amp;P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.</span></p><p>Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.</p><p><b>7. Chinese trends that investors should pay attention to.</b>As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.</p><p>China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.</p><p>Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.</p><p>Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.</p><p><b>8. Risks that investors should heed.</b>Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.</p><p>At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.</p><p>The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.</p><p><b>The fifth perspective</b></p><p>China’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.</p><p>However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets. &nbsp;Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.</p><p>China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.</p><p>The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.</p>","source":"lsy1622016633088","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>Investing in China stocks in 2021? Here are 8 things investors should know</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nInvesting in China stocks in 2021? Here are 8 things investors should know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 16:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://fifthperson.com/china-stocks-2021/><strong>The Fifth Person</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In ...</p>\n\n<a href=\"https://fifthperson.com/china-stocks-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","STI.SI":"富时新加坡海峡指数","000001.SH":"上证指数"},"source_url":"https://fifthperson.com/china-stocks-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142524290","content_text":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.SHARE CLASSDEFINITIONSTOCK EXCHANGE (CURRENCY)AChina securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).Shanghai (RMB), Shenzen (RMB)BChina securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).Shanghai (USD), Shenzhen (HKD)HChina securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Red-ChipsChina securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)P-ChipsChina securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Listed OverseasChina securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).New York (USD), Singapore (SGD)Source:MSCI2. Inclusion of China A-shares in the MSCI Emerging Index.MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.Source:MSCIBased on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.3. Significant expansion of China’s capital markets.The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista4. Chinese companies are becoming more market-orientedOnce largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 20205. China markets are highly liquid.Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World IndexHowever, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.6. China equites offer portfolio diversification. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.7. Chinese trends that investors should pay attention to.As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.8. Risks that investors should heed.Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.The fifth perspectiveChina’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets.  Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"STI.SI":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":1057,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136536844,"gmtCreate":1622026986488,"gmtModify":1704178070798,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Time to go up!","listText":"Time to go up!","text":"Time to go up!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136536844","repostId":"1124807870","repostType":4,"repost":{"id":"1124807870","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622024544,"share":"https://ttm.financial/m/news/1124807870?lang=&edition=fundamental","pubTime":"2021-05-26 18:22","market":"hk","language":"en","title":"Xiaomi Corp's 1Q Results Beat Estimates","url":"https://stock-news.laohu8.com/highlight/detail?id=1124807870","media":"Tiger Newspress","summary":"Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business","content":"<p>Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.</p><p>In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.</p><p>In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business reached 12.9%, and the global shipment of smart phones reached 49.4 million.</p><p></p><p><img src=\"https://static.tigerbbs.com/0f06f643ff0783b170e7259dff684f3b\" tg-width=\"1187\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><b>KEY HIGHLIGHTS</b></p><p><b>1. Overall Performance </b></p><p>In the first quarter of 2021, the total revenue amounted to RMB&nbsp;76.9 billion, representing an increase of 54.7% year-over-year; adjusted net profit for the period was RMB6.1 billion, an increase of 163.8% year-over-year. Notably, both the total revenue and adjusted net profit reached record highs in the quarter, demonstrating the robustness of our business model and the strong execution of our strategies.</p><p>Our core strategy of “Smartphone × AIoT” continued to underpin the outstanding performance.</p><p>In the first quarter of 2021,the global smartphone shipments increased by 69.1% year-overyear to 49.4 million units. According to Canalys, Xiaomi maintained a top 3 position in the global smartphone market this quarter, with a market share of 14.1% in terms of shipments. The strong growth of smartphone shipments drove the continued expansion of our global user base.</p><p>In March 2021, the global monthly active users (“MAU”) of MIUI reached 425.3 million, an increase of 28.6% year-over-year. At the same time, our AIoT platform continued scaling up, with the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reaching 351.1 million as of March 31, 2021. In March 2021, the MAU of our AI assistant “小愛同學” reached 93.0 million.</p><p>Our smartphone business maintained significant growth in mainland China. According to Canalys, our smartphone shipments in mainland China market grew 74.6% year-over-year, with market share ranking 4th in the first quarter of 2021. Additionally, our internet user base continued to grow. In March 2021, the MAU of MIUI in mainland China reached 118.6 million, representing an increase of 7.7 million, or 6.9%, from December 2020.</p><p>We continue to enrich our product portfolio to further promote our competitiveness in the premium smartphone market. Notably, our three premium smartphones Mi MIX FOLD, Mi 11 Ultra and Mi 11 Pro all delivered remarkable sales performance immediately following their release in March 2021. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 4 million units.</p><p>Meanwhile, as we further expanded our overseas business, our revenue from overseas markets amounted to RMB37.4 billion in the first quarter of 2021, representing a year-over-year increase of 50.6%. According to Canalys, in terms of smartphone shipments, our market share ranked among the top 5 smartphone companies in 62 countries and regions globally in the first quarter of 2021. Additionally, we ranked No. 2 in Europe for the first time, and rose to the 3rd position in Latin America in market share.</p><p>Besides delivering solid growth in our existing businesses, we continue to explore new opportunities and broaden our business boundaries. In March 2021, we unveiled our new brand identity, and also announced our official foray into the smart electric vehicle business, setting course on an exciting journey for the next decade.</p><p><b>2. Smartphones </b></p><p>In the first quarter of 2021, our smartphone business continued to grow significantly.</p><p>Smartphone revenue amounted to RMB51.5 billion in the quarter, representing an increase of 69.8% year-over-year. The gross profit margin of our smartphone business was 12.9% in this quarter, and our global smartphone shipments reached 49.4 million units. According to Canalys, we maintained our 3rd position globally in terms of smartphone shipments in the quarter, with a market share of 14.1%.</p><p>Our smartphone business in mainland China maintained rapid growth. According to Canalys, in the first quarter of 2021, we rose to the 4th position with a market share of 14.6%. We further strengthened our market position in online channels. According to third-party data, our online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020. Meanwhile, we also expanded our offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.</p><p>We continued to execute our dual-brand strategy. During the quarter, we unveiled a series of new products under the Xiaomi brand, including Mi 10S, Mi 11 Lite, Mi 11 Pro, Mi 11 Ultra and Mi MIX FOLD. In particular, with prices starting from RMB9,999, our ultra-premium flagship product Mi MIX FOLD comes equipped with 2K+ foldable display, which offers a remarkable large-screen interactive experience in imaging, reading, video, gaming, etc. It is equipped with Xiaomi’s first self-developed Surge C1 Image Signal Processor optimized for professional photography. It is also the world’s first smartphone to feature a liquid lens. Also,</p><p>Mi 11 Ultra, with prices starting from RMB5,999, debuted the 50MP GN2 sensor. It comes equipped with the 120x digital zoom periscope lens, and an ultra-wide angle camera capable of capturing a stunningly wide 128° field of view. With these features, Mi 11 Ultra achieved a DXOMARK score of 143 for overall camera performance, ranking 1st globally at the time of launch. Additionally, with diversified designs and functions, Mi 11 Pro and Mi 11 Lite cater to a wide range of demands from various customers. From January 1 to April 30, 2021, total orders of Mi 11, Mi 11 Pro and Mi 11 Ultra exceeded 3 million units, and the sales of our Mi 11 series ranked No. 1 among Android smartphones with prices between RMB4,000 and RMB6,000 in mainland China, according to third-party data.</p><p>We also offered new positioning and expanded product choices of our Redmi brand. In February 2021, we unveiled Redmi K40, Redmi K40 Pro and Redmi K40 Pro+, which were well received by the market. In April 2021, we unveiled Redmi K40 Gaming Edition with prices starting from RMB1,999. Equipped with the MediaTek Dimensity 1200 processor, Redmi K40 Gaming Edition offers superb gaming performance. Featuring unparalleled heat dissipation, fast charging capabilities, physical pop-up gaming triggers and an ultra-thin body design, it delivers an exceptional gaming experience to the mass market.</p><p>Our enriched premium product portfolio underpinned our robust growth in the premium smartphone market. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300 or equivalent in overseas markets exceeded 4 million units. In addition, according to third-party data, our market share for smartphones with prices between RMB4,000 and RMB6,000 in mainland China increased to 16.1% in the first quarter of 2021 from 5.5% in the first quarter of 2020.</p><p><b>3. IoT and lifestyle products </b></p><p>In the first quarter of 2021, IoT and lifestyle products segment witnessed strong performance, with revenue increasing 40.5% year-over-year to RMB18.2 billion.</p><p>In the first quarter of 2021, global shipments of our smart TVs reached 2.6 million units. According to All View Cloud (“AVC”), our TV shipments ranked No. 1 in mainland China for the 9th consecutive quarter, and remained top five globally. In addition, our large-screen smart TVs continued to gain widespread popularity in the market. According to AVC, Xiaomi and Redmi TVs continued to rank No. 1 by retail sales volume in the over 70-inch TV market in mainland China, with a market share of 29.0%, as retail sales volume increased over 160.0% year-over-year. In February 2021, we introduced Redmi MAX 86” super-size TV, which was well received by the market.</p><p>During the quarter, we introduced a number of new products with innovative features in our key IoT product categories. We unveiled Mi Smart AC with Ventilation, which takes clean fresh air from the outside to effectively lower indoor carbon-dioxide levels and brings a healthy and comfortable experience to our users, furthering the adoption of a new generation of smart air conditioners with ventilation. Meanwhile, we also unveiled Mi Laptop Pro 15”, featuring a wide color gamut OLED display with 1.07 billion colors to deliver an extraordinary visual experience to our users. Furthermore, we introduced Mi Router AX9000 with price at RMB999.</p><p>Its top speed of 9,000 Mbps based on three frequency bands and excellent signal coverage support e-sport-level user experiences.</p><p>We are leveraging our smartphone research and development capabilities to enhance our wearables business, strengthening the synergies between the two businesses. In the first quarter of 2021, revenue from our smart watch segment increased over 300.0% year-overyear. Additionally, we introduced our new generation smart wristband Mi Smart Band 6 in the quarter, with a full screen display while further optimizing our health and fitness algorithm.</p><p>In mainland China, we maintained our top 3 position in market share across a wide array of smart home product categories. According to “IDC PRC Quarterly Smart Home Device Tracker, 2020Q4,” we ranked No. 1 in air purifiers and smart door locks, and No. 2 in robot vacuum cleaners.</p><p>Our IoT and lifestyle product segment also continued on its rapid growth trajectory in overseas markets. Revenue from our IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. Our electric scooters, air purifiers, Mi Box and other products maintained their widespread popularity.</p><p><b>4. Internet services </b></p><p>Our internet services segment continued its solid growth as revenue grew 11.4% year-over-year to RMB6.6 billion in the first quarter of 2021. The gross profit margin of our internet services segment reached 72.4% in the quarter.</p><p>Our global internet user base continued to expand rapidly. In March 2021, the MAU of MIUI increased by 28.6% year-over-year to 425.3 million, while the MAU of MIUI in mainland China rose to 118.6 million, representing a year-over-year increase of 6.4% and a net gain of 7.7 million users from December 2020.</p><p>In the first quarter of 2021, our advertising revenue reached another quarterly record high of RMB3.9 billion, representing an increase of 46.3% year-over-year. Driven by the expansion of our global user base and the robust growth of premium smartphone users, our advertising revenue, including pre-installation and search services, continued to advance.</p><p>Our gaming revenue in the first quarter of 2021 increased by 24.8% quarter-over-quarter to RMB1.1 billion. We focused on deepening partnerships with high-quality content providers, while growth in our premium smartphone user base also continued to boost average gaming revenue per user.</p><p>During the quarter, revenue from other value-added services decreased by 8.6% year-over-year to RMB1.6 billion, primarily because our fintech business further strengthened risk controls and proactively managed the balance of outstanding loans.</p><p>As we broaden our TV internet service offerings and reached a larger user base, MAU of our smart TVs and Mi Box increased over 34.0% year-over-year in the quarter. Meanwhile, the number of our TV paid subscribers increased 8.2% year-over-year to 4.7 million as of March 31, 2021.</p><p>In the first quarter of 2021, overseas internet services revenue increased 50.0% year-over-year to RMB0.9 billion, accounting for 13.8% of total internet services revenue. Our internet user base continued to expand in key overseas markets, with MAU of MIUI increasing 95.5% yearover-year in Western Europe. Going forward, we will further diversify our overseas internet service offerings and enhance user experience while driving growth in our overseas internet services business.</p><p><b>5. Overseas markets </b></p><p>In 2021, we have kept up our strong momentum in major markets around the world. In the first quarter, our revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, our market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally, and No. 1 in 12 countries and regions.</p><p>We further improved our competitive positioning in key markets. According to Canalys, in the first quarter of 2021, we ranked top 2 for the first time in Europe with an 85.1% yearover-year increase in smartphone shipments and a market share of 22.7%. Notably, we ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as our smartphone shipments increased 81.8% year-over-year to reach 32.5% market share. We also ranked No. 1 for the first time in Russia with a market share of 32.1%. We retained top 3 position in Western Europe as our market share further rose to 16.6% with an 89.3% year-over-year increase in smartphone shipments. We ranked No. 1 in Spain for the 5th consecutive quarter, with 35.1% market share.</p><p>Additionally, our market position rose to No. 2 in Italy, retained the No. 3 spot in Germany and France and entered the top 5 in the U.K. for the first time, all with growth rate in shipments exceeding 90% year-over-year. Moreover, we ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments, with a market share of 28.3%.</p><p>We continued our strong growth momentum in new markets. According to Canalys, our position in Latin America rose to No. 3 as our smartphone shipments increased 161.7% yearover-year to reach 11.5% market share. In particular, we climbed to the No. 2 spot in Mexico with 16.7% market share and a 137.1% year-over-year growth in smartphone shipments.</p><p>Additionally, we ranked No. 3 in the Middle East as our smartphone shipments increased 87.8% year-over-year. Meanwhile, we attained the No. 4 spot in Africa as our smartphone shipments increased 191.0% year-over-year.</p><p>We continued to strengthen our channel capabilities in overseas markets. In the first quarter of 2021, we sold more than 5.0 million smartphones each via online channels and carrier channels in overseas markets, excluding India, representing year-over-year increases of over 100% and 310%, respectively. According to Canalys, our smartphone market share in Western Europe carrier channels increased to 11.3% in the first quarter of 2021 from 7.4% in the fourth quarter of 2020. As of March 31, 2021, we have established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.</p><p><b>6. Core strategy updates </b></p><p><b>Smartphone×AIoT </b></p><p>“Smartphone × AIoT” remains at the core of our strategy as we continue to enhance our smart ecosystem. As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%. In March 2021, our AI Assistant (“小愛同學”) had 93.0 million MAU, and the MAU of our Mi Home App reached 49.2 million, representing a year-over-year increase of 22.8%. </p><p>Investment in Technology Our relentless pursuit of cutting-edge technology and innovation forms the bedrock of our development and growth. In the first quarter of 2021, we recorded RMB3.0 billion in research and development expenses, representing a year-over-year increase of 61.0%. </p><p>In the first quarter of 2021, we debuted our first self-developed Image Signal Processor Surge C1 on Mi MIX FOLD. Surge C1 enables more accurate auto focus, auto exposure and auto white balance, boasting another remarkable achievement in our imaging technology. Mi MIX FOLD also features the first liquid lens in a smartphone, replacing the traditional optical lens with a transparent fluid wrapped in film, and allowing telephoto as well as shooting with micro details. Moreover, we debuted the Mi 11 Ultra with an innovative battery technology featuring silicon-oxygen anode battery and new three-phase cooling technology, which rapidly dissipates heat through three substance state changes among solids, liquids and gases, and enables elevated endurance, super-fast charging capabilities and more solid product performance. These innovations are testaments to our continuous efforts to explore and push the boundaries of technological innovations. </p><p>Moving forward, we will remain committed to ramping up R&amp;D investments and recruiting global technological talents to relentlessly pursue innovations in core technologies as well as smart manufacturing. </p><p><b>New Brand Identity</b></p><p>In March 2021, we unveiled our upgraded brand identity including our new logo, setting forth on our new journey with a refreshed image as we embrace the next decade. Going forward, we will further strengthen our brand promotion efforts and elevate brand awareness across the globe. </p><p><b>Commencement of Smart EV Business </b></p><p>On March 30, 2021, we announced our plan to establish a wholly-owned subsidiary to manage our smart electric vehicle (“Smart EV”) business. The initial phase of investment will be RMB10 billion, with the total investment amount over the course of the next 10 years estimated to be USD10 billion. Mr. Lei Jun, the Chief Executive Officer of the Group, will concurrently serve as the Chief Executive Officer of the smart electric vehicle business. </p><p>We hope to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere. Our broad user base, extensive experience in integrating software and hardware, our substantial investment in key technologies and resources across the value chain position us well to become a successful player in the Smart EV space. </p><p><b>Investments </b></p><p>As of March 31, 2021, we had invested in more than 320 companies with an aggregate book value of RMB51.9 billion, an increase of 60.8% year-over-year. As of March 31, 2021, the total amount of our investments (including (i) fair value of our stakes in listed investee companies accounted for using the equity method based on the stock price on March 31, 2021 (ii) book value of our stakes in unlisted investee companies accounted for using the equity method and (iii) book value of long-term investments measured at fair value through profit or loss) reached RMB69.7 billion. In the first quarter of 2021, we generated net gains (after tax) of RMB0.4 billion on disposal of investments.</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>Xiaomi Corp's 1Q Results Beat Estimates</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nXiaomi Corp's 1Q Results Beat Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\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\">Tiger Newspress </p>\n<p class=\"h-time\">2021-05-26 18:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.</p><p>In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.</p><p>In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business reached 12.9%, and the global shipment of smart phones reached 49.4 million.</p><p></p><p><img src=\"https://static.tigerbbs.com/0f06f643ff0783b170e7259dff684f3b\" tg-width=\"1187\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><b>KEY HIGHLIGHTS</b></p><p><b>1. Overall Performance </b></p><p>In the first quarter of 2021, the total revenue amounted to RMB&nbsp;76.9 billion, representing an increase of 54.7% year-over-year; adjusted net profit for the period was RMB6.1 billion, an increase of 163.8% year-over-year. Notably, both the total revenue and adjusted net profit reached record highs in the quarter, demonstrating the robustness of our business model and the strong execution of our strategies.</p><p>Our core strategy of “Smartphone × AIoT” continued to underpin the outstanding performance.</p><p>In the first quarter of 2021,the global smartphone shipments increased by 69.1% year-overyear to 49.4 million units. According to Canalys, Xiaomi maintained a top 3 position in the global smartphone market this quarter, with a market share of 14.1% in terms of shipments. The strong growth of smartphone shipments drove the continued expansion of our global user base.</p><p>In March 2021, the global monthly active users (“MAU”) of MIUI reached 425.3 million, an increase of 28.6% year-over-year. At the same time, our AIoT platform continued scaling up, with the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reaching 351.1 million as of March 31, 2021. In March 2021, the MAU of our AI assistant “小愛同學” reached 93.0 million.</p><p>Our smartphone business maintained significant growth in mainland China. According to Canalys, our smartphone shipments in mainland China market grew 74.6% year-over-year, with market share ranking 4th in the first quarter of 2021. Additionally, our internet user base continued to grow. In March 2021, the MAU of MIUI in mainland China reached 118.6 million, representing an increase of 7.7 million, or 6.9%, from December 2020.</p><p>We continue to enrich our product portfolio to further promote our competitiveness in the premium smartphone market. Notably, our three premium smartphones Mi MIX FOLD, Mi 11 Ultra and Mi 11 Pro all delivered remarkable sales performance immediately following their release in March 2021. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 4 million units.</p><p>Meanwhile, as we further expanded our overseas business, our revenue from overseas markets amounted to RMB37.4 billion in the first quarter of 2021, representing a year-over-year increase of 50.6%. According to Canalys, in terms of smartphone shipments, our market share ranked among the top 5 smartphone companies in 62 countries and regions globally in the first quarter of 2021. Additionally, we ranked No. 2 in Europe for the first time, and rose to the 3rd position in Latin America in market share.</p><p>Besides delivering solid growth in our existing businesses, we continue to explore new opportunities and broaden our business boundaries. In March 2021, we unveiled our new brand identity, and also announced our official foray into the smart electric vehicle business, setting course on an exciting journey for the next decade.</p><p><b>2. Smartphones </b></p><p>In the first quarter of 2021, our smartphone business continued to grow significantly.</p><p>Smartphone revenue amounted to RMB51.5 billion in the quarter, representing an increase of 69.8% year-over-year. The gross profit margin of our smartphone business was 12.9% in this quarter, and our global smartphone shipments reached 49.4 million units. According to Canalys, we maintained our 3rd position globally in terms of smartphone shipments in the quarter, with a market share of 14.1%.</p><p>Our smartphone business in mainland China maintained rapid growth. According to Canalys, in the first quarter of 2021, we rose to the 4th position with a market share of 14.6%. We further strengthened our market position in online channels. According to third-party data, our online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020. Meanwhile, we also expanded our offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.</p><p>We continued to execute our dual-brand strategy. During the quarter, we unveiled a series of new products under the Xiaomi brand, including Mi 10S, Mi 11 Lite, Mi 11 Pro, Mi 11 Ultra and Mi MIX FOLD. In particular, with prices starting from RMB9,999, our ultra-premium flagship product Mi MIX FOLD comes equipped with 2K+ foldable display, which offers a remarkable large-screen interactive experience in imaging, reading, video, gaming, etc. It is equipped with Xiaomi’s first self-developed Surge C1 Image Signal Processor optimized for professional photography. It is also the world’s first smartphone to feature a liquid lens. Also,</p><p>Mi 11 Ultra, with prices starting from RMB5,999, debuted the 50MP GN2 sensor. It comes equipped with the 120x digital zoom periscope lens, and an ultra-wide angle camera capable of capturing a stunningly wide 128° field of view. With these features, Mi 11 Ultra achieved a DXOMARK score of 143 for overall camera performance, ranking 1st globally at the time of launch. Additionally, with diversified designs and functions, Mi 11 Pro and Mi 11 Lite cater to a wide range of demands from various customers. From January 1 to April 30, 2021, total orders of Mi 11, Mi 11 Pro and Mi 11 Ultra exceeded 3 million units, and the sales of our Mi 11 series ranked No. 1 among Android smartphones with prices between RMB4,000 and RMB6,000 in mainland China, according to third-party data.</p><p>We also offered new positioning and expanded product choices of our Redmi brand. In February 2021, we unveiled Redmi K40, Redmi K40 Pro and Redmi K40 Pro+, which were well received by the market. In April 2021, we unveiled Redmi K40 Gaming Edition with prices starting from RMB1,999. Equipped with the MediaTek Dimensity 1200 processor, Redmi K40 Gaming Edition offers superb gaming performance. Featuring unparalleled heat dissipation, fast charging capabilities, physical pop-up gaming triggers and an ultra-thin body design, it delivers an exceptional gaming experience to the mass market.</p><p>Our enriched premium product portfolio underpinned our robust growth in the premium smartphone market. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300 or equivalent in overseas markets exceeded 4 million units. In addition, according to third-party data, our market share for smartphones with prices between RMB4,000 and RMB6,000 in mainland China increased to 16.1% in the first quarter of 2021 from 5.5% in the first quarter of 2020.</p><p><b>3. IoT and lifestyle products </b></p><p>In the first quarter of 2021, IoT and lifestyle products segment witnessed strong performance, with revenue increasing 40.5% year-over-year to RMB18.2 billion.</p><p>In the first quarter of 2021, global shipments of our smart TVs reached 2.6 million units. According to All View Cloud (“AVC”), our TV shipments ranked No. 1 in mainland China for the 9th consecutive quarter, and remained top five globally. In addition, our large-screen smart TVs continued to gain widespread popularity in the market. According to AVC, Xiaomi and Redmi TVs continued to rank No. 1 by retail sales volume in the over 70-inch TV market in mainland China, with a market share of 29.0%, as retail sales volume increased over 160.0% year-over-year. In February 2021, we introduced Redmi MAX 86” super-size TV, which was well received by the market.</p><p>During the quarter, we introduced a number of new products with innovative features in our key IoT product categories. We unveiled Mi Smart AC with Ventilation, which takes clean fresh air from the outside to effectively lower indoor carbon-dioxide levels and brings a healthy and comfortable experience to our users, furthering the adoption of a new generation of smart air conditioners with ventilation. Meanwhile, we also unveiled Mi Laptop Pro 15”, featuring a wide color gamut OLED display with 1.07 billion colors to deliver an extraordinary visual experience to our users. Furthermore, we introduced Mi Router AX9000 with price at RMB999.</p><p>Its top speed of 9,000 Mbps based on three frequency bands and excellent signal coverage support e-sport-level user experiences.</p><p>We are leveraging our smartphone research and development capabilities to enhance our wearables business, strengthening the synergies between the two businesses. In the first quarter of 2021, revenue from our smart watch segment increased over 300.0% year-overyear. Additionally, we introduced our new generation smart wristband Mi Smart Band 6 in the quarter, with a full screen display while further optimizing our health and fitness algorithm.</p><p>In mainland China, we maintained our top 3 position in market share across a wide array of smart home product categories. According to “IDC PRC Quarterly Smart Home Device Tracker, 2020Q4,” we ranked No. 1 in air purifiers and smart door locks, and No. 2 in robot vacuum cleaners.</p><p>Our IoT and lifestyle product segment also continued on its rapid growth trajectory in overseas markets. Revenue from our IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. Our electric scooters, air purifiers, Mi Box and other products maintained their widespread popularity.</p><p><b>4. Internet services </b></p><p>Our internet services segment continued its solid growth as revenue grew 11.4% year-over-year to RMB6.6 billion in the first quarter of 2021. The gross profit margin of our internet services segment reached 72.4% in the quarter.</p><p>Our global internet user base continued to expand rapidly. In March 2021, the MAU of MIUI increased by 28.6% year-over-year to 425.3 million, while the MAU of MIUI in mainland China rose to 118.6 million, representing a year-over-year increase of 6.4% and a net gain of 7.7 million users from December 2020.</p><p>In the first quarter of 2021, our advertising revenue reached another quarterly record high of RMB3.9 billion, representing an increase of 46.3% year-over-year. Driven by the expansion of our global user base and the robust growth of premium smartphone users, our advertising revenue, including pre-installation and search services, continued to advance.</p><p>Our gaming revenue in the first quarter of 2021 increased by 24.8% quarter-over-quarter to RMB1.1 billion. We focused on deepening partnerships with high-quality content providers, while growth in our premium smartphone user base also continued to boost average gaming revenue per user.</p><p>During the quarter, revenue from other value-added services decreased by 8.6% year-over-year to RMB1.6 billion, primarily because our fintech business further strengthened risk controls and proactively managed the balance of outstanding loans.</p><p>As we broaden our TV internet service offerings and reached a larger user base, MAU of our smart TVs and Mi Box increased over 34.0% year-over-year in the quarter. Meanwhile, the number of our TV paid subscribers increased 8.2% year-over-year to 4.7 million as of March 31, 2021.</p><p>In the first quarter of 2021, overseas internet services revenue increased 50.0% year-over-year to RMB0.9 billion, accounting for 13.8% of total internet services revenue. Our internet user base continued to expand in key overseas markets, with MAU of MIUI increasing 95.5% yearover-year in Western Europe. Going forward, we will further diversify our overseas internet service offerings and enhance user experience while driving growth in our overseas internet services business.</p><p><b>5. Overseas markets </b></p><p>In 2021, we have kept up our strong momentum in major markets around the world. In the first quarter, our revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, our market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally, and No. 1 in 12 countries and regions.</p><p>We further improved our competitive positioning in key markets. According to Canalys, in the first quarter of 2021, we ranked top 2 for the first time in Europe with an 85.1% yearover-year increase in smartphone shipments and a market share of 22.7%. Notably, we ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as our smartphone shipments increased 81.8% year-over-year to reach 32.5% market share. We also ranked No. 1 for the first time in Russia with a market share of 32.1%. We retained top 3 position in Western Europe as our market share further rose to 16.6% with an 89.3% year-over-year increase in smartphone shipments. We ranked No. 1 in Spain for the 5th consecutive quarter, with 35.1% market share.</p><p>Additionally, our market position rose to No. 2 in Italy, retained the No. 3 spot in Germany and France and entered the top 5 in the U.K. for the first time, all with growth rate in shipments exceeding 90% year-over-year. Moreover, we ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments, with a market share of 28.3%.</p><p>We continued our strong growth momentum in new markets. According to Canalys, our position in Latin America rose to No. 3 as our smartphone shipments increased 161.7% yearover-year to reach 11.5% market share. In particular, we climbed to the No. 2 spot in Mexico with 16.7% market share and a 137.1% year-over-year growth in smartphone shipments.</p><p>Additionally, we ranked No. 3 in the Middle East as our smartphone shipments increased 87.8% year-over-year. Meanwhile, we attained the No. 4 spot in Africa as our smartphone shipments increased 191.0% year-over-year.</p><p>We continued to strengthen our channel capabilities in overseas markets. In the first quarter of 2021, we sold more than 5.0 million smartphones each via online channels and carrier channels in overseas markets, excluding India, representing year-over-year increases of over 100% and 310%, respectively. According to Canalys, our smartphone market share in Western Europe carrier channels increased to 11.3% in the first quarter of 2021 from 7.4% in the fourth quarter of 2020. As of March 31, 2021, we have established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.</p><p><b>6. Core strategy updates </b></p><p><b>Smartphone×AIoT </b></p><p>“Smartphone × AIoT” remains at the core of our strategy as we continue to enhance our smart ecosystem. As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%. In March 2021, our AI Assistant (“小愛同學”) had 93.0 million MAU, and the MAU of our Mi Home App reached 49.2 million, representing a year-over-year increase of 22.8%. </p><p>Investment in Technology Our relentless pursuit of cutting-edge technology and innovation forms the bedrock of our development and growth. In the first quarter of 2021, we recorded RMB3.0 billion in research and development expenses, representing a year-over-year increase of 61.0%. </p><p>In the first quarter of 2021, we debuted our first self-developed Image Signal Processor Surge C1 on Mi MIX FOLD. Surge C1 enables more accurate auto focus, auto exposure and auto white balance, boasting another remarkable achievement in our imaging technology. Mi MIX FOLD also features the first liquid lens in a smartphone, replacing the traditional optical lens with a transparent fluid wrapped in film, and allowing telephoto as well as shooting with micro details. Moreover, we debuted the Mi 11 Ultra with an innovative battery technology featuring silicon-oxygen anode battery and new three-phase cooling technology, which rapidly dissipates heat through three substance state changes among solids, liquids and gases, and enables elevated endurance, super-fast charging capabilities and more solid product performance. These innovations are testaments to our continuous efforts to explore and push the boundaries of technological innovations. </p><p>Moving forward, we will remain committed to ramping up R&amp;D investments and recruiting global technological talents to relentlessly pursue innovations in core technologies as well as smart manufacturing. </p><p><b>New Brand Identity</b></p><p>In March 2021, we unveiled our upgraded brand identity including our new logo, setting forth on our new journey with a refreshed image as we embrace the next decade. Going forward, we will further strengthen our brand promotion efforts and elevate brand awareness across the globe. </p><p><b>Commencement of Smart EV Business </b></p><p>On March 30, 2021, we announced our plan to establish a wholly-owned subsidiary to manage our smart electric vehicle (“Smart EV”) business. The initial phase of investment will be RMB10 billion, with the total investment amount over the course of the next 10 years estimated to be USD10 billion. Mr. Lei Jun, the Chief Executive Officer of the Group, will concurrently serve as the Chief Executive Officer of the smart electric vehicle business. </p><p>We hope to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere. Our broad user base, extensive experience in integrating software and hardware, our substantial investment in key technologies and resources across the value chain position us well to become a successful player in the Smart EV space. </p><p><b>Investments </b></p><p>As of March 31, 2021, we had invested in more than 320 companies with an aggregate book value of RMB51.9 billion, an increase of 60.8% year-over-year. As of March 31, 2021, the total amount of our investments (including (i) fair value of our stakes in listed investee companies accounted for using the equity method based on the stock price on March 31, 2021 (ii) book value of our stakes in unlisted investee companies accounted for using the equity method and (iii) book value of long-term investments measured at fair value through profit or loss) reached RMB69.7 billion. In the first quarter of 2021, we generated net gains (after tax) of RMB0.4 billion on disposal of investments.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"01810":"小米集团-W","XIACY":"小米集团ADR"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124807870","content_text":"Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business reached 12.9%, and the global shipment of smart phones reached 49.4 million.KEY HIGHLIGHTS1. Overall Performance In the first quarter of 2021, the total revenue amounted to RMB 76.9 billion, representing an increase of 54.7% year-over-year; adjusted net profit for the period was RMB6.1 billion, an increase of 163.8% year-over-year. Notably, both the total revenue and adjusted net profit reached record highs in the quarter, demonstrating the robustness of our business model and the strong execution of our strategies.Our core strategy of “Smartphone × AIoT” continued to underpin the outstanding performance.In the first quarter of 2021,the global smartphone shipments increased by 69.1% year-overyear to 49.4 million units. According to Canalys, Xiaomi maintained a top 3 position in the global smartphone market this quarter, with a market share of 14.1% in terms of shipments. The strong growth of smartphone shipments drove the continued expansion of our global user base.In March 2021, the global monthly active users (“MAU”) of MIUI reached 425.3 million, an increase of 28.6% year-over-year. At the same time, our AIoT platform continued scaling up, with the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reaching 351.1 million as of March 31, 2021. In March 2021, the MAU of our AI assistant “小愛同學” reached 93.0 million.Our smartphone business maintained significant growth in mainland China. According to Canalys, our smartphone shipments in mainland China market grew 74.6% year-over-year, with market share ranking 4th in the first quarter of 2021. Additionally, our internet user base continued to grow. In March 2021, the MAU of MIUI in mainland China reached 118.6 million, representing an increase of 7.7 million, or 6.9%, from December 2020.We continue to enrich our product portfolio to further promote our competitiveness in the premium smartphone market. Notably, our three premium smartphones Mi MIX FOLD, Mi 11 Ultra and Mi 11 Pro all delivered remarkable sales performance immediately following their release in March 2021. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 4 million units.Meanwhile, as we further expanded our overseas business, our revenue from overseas markets amounted to RMB37.4 billion in the first quarter of 2021, representing a year-over-year increase of 50.6%. According to Canalys, in terms of smartphone shipments, our market share ranked among the top 5 smartphone companies in 62 countries and regions globally in the first quarter of 2021. Additionally, we ranked No. 2 in Europe for the first time, and rose to the 3rd position in Latin America in market share.Besides delivering solid growth in our existing businesses, we continue to explore new opportunities and broaden our business boundaries. In March 2021, we unveiled our new brand identity, and also announced our official foray into the smart electric vehicle business, setting course on an exciting journey for the next decade.2. Smartphones In the first quarter of 2021, our smartphone business continued to grow significantly.Smartphone revenue amounted to RMB51.5 billion in the quarter, representing an increase of 69.8% year-over-year. The gross profit margin of our smartphone business was 12.9% in this quarter, and our global smartphone shipments reached 49.4 million units. According to Canalys, we maintained our 3rd position globally in terms of smartphone shipments in the quarter, with a market share of 14.1%.Our smartphone business in mainland China maintained rapid growth. According to Canalys, in the first quarter of 2021, we rose to the 4th position with a market share of 14.6%. We further strengthened our market position in online channels. According to third-party data, our online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020. Meanwhile, we also expanded our offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.We continued to execute our dual-brand strategy. During the quarter, we unveiled a series of new products under the Xiaomi brand, including Mi 10S, Mi 11 Lite, Mi 11 Pro, Mi 11 Ultra and Mi MIX FOLD. In particular, with prices starting from RMB9,999, our ultra-premium flagship product Mi MIX FOLD comes equipped with 2K+ foldable display, which offers a remarkable large-screen interactive experience in imaging, reading, video, gaming, etc. It is equipped with Xiaomi’s first self-developed Surge C1 Image Signal Processor optimized for professional photography. It is also the world’s first smartphone to feature a liquid lens. Also,Mi 11 Ultra, with prices starting from RMB5,999, debuted the 50MP GN2 sensor. It comes equipped with the 120x digital zoom periscope lens, and an ultra-wide angle camera capable of capturing a stunningly wide 128° field of view. With these features, Mi 11 Ultra achieved a DXOMARK score of 143 for overall camera performance, ranking 1st globally at the time of launch. Additionally, with diversified designs and functions, Mi 11 Pro and Mi 11 Lite cater to a wide range of demands from various customers. From January 1 to April 30, 2021, total orders of Mi 11, Mi 11 Pro and Mi 11 Ultra exceeded 3 million units, and the sales of our Mi 11 series ranked No. 1 among Android smartphones with prices between RMB4,000 and RMB6,000 in mainland China, according to third-party data.We also offered new positioning and expanded product choices of our Redmi brand. In February 2021, we unveiled Redmi K40, Redmi K40 Pro and Redmi K40 Pro+, which were well received by the market. In April 2021, we unveiled Redmi K40 Gaming Edition with prices starting from RMB1,999. Equipped with the MediaTek Dimensity 1200 processor, Redmi K40 Gaming Edition offers superb gaming performance. Featuring unparalleled heat dissipation, fast charging capabilities, physical pop-up gaming triggers and an ultra-thin body design, it delivers an exceptional gaming experience to the mass market.Our enriched premium product portfolio underpinned our robust growth in the premium smartphone market. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300 or equivalent in overseas markets exceeded 4 million units. In addition, according to third-party data, our market share for smartphones with prices between RMB4,000 and RMB6,000 in mainland China increased to 16.1% in the first quarter of 2021 from 5.5% in the first quarter of 2020.3. IoT and lifestyle products In the first quarter of 2021, IoT and lifestyle products segment witnessed strong performance, with revenue increasing 40.5% year-over-year to RMB18.2 billion.In the first quarter of 2021, global shipments of our smart TVs reached 2.6 million units. According to All View Cloud (“AVC”), our TV shipments ranked No. 1 in mainland China for the 9th consecutive quarter, and remained top five globally. In addition, our large-screen smart TVs continued to gain widespread popularity in the market. According to AVC, Xiaomi and Redmi TVs continued to rank No. 1 by retail sales volume in the over 70-inch TV market in mainland China, with a market share of 29.0%, as retail sales volume increased over 160.0% year-over-year. In February 2021, we introduced Redmi MAX 86” super-size TV, which was well received by the market.During the quarter, we introduced a number of new products with innovative features in our key IoT product categories. We unveiled Mi Smart AC with Ventilation, which takes clean fresh air from the outside to effectively lower indoor carbon-dioxide levels and brings a healthy and comfortable experience to our users, furthering the adoption of a new generation of smart air conditioners with ventilation. Meanwhile, we also unveiled Mi Laptop Pro 15”, featuring a wide color gamut OLED display with 1.07 billion colors to deliver an extraordinary visual experience to our users. Furthermore, we introduced Mi Router AX9000 with price at RMB999.Its top speed of 9,000 Mbps based on three frequency bands and excellent signal coverage support e-sport-level user experiences.We are leveraging our smartphone research and development capabilities to enhance our wearables business, strengthening the synergies between the two businesses. In the first quarter of 2021, revenue from our smart watch segment increased over 300.0% year-overyear. Additionally, we introduced our new generation smart wristband Mi Smart Band 6 in the quarter, with a full screen display while further optimizing our health and fitness algorithm.In mainland China, we maintained our top 3 position in market share across a wide array of smart home product categories. According to “IDC PRC Quarterly Smart Home Device Tracker, 2020Q4,” we ranked No. 1 in air purifiers and smart door locks, and No. 2 in robot vacuum cleaners.Our IoT and lifestyle product segment also continued on its rapid growth trajectory in overseas markets. Revenue from our IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. Our electric scooters, air purifiers, Mi Box and other products maintained their widespread popularity.4. Internet services Our internet services segment continued its solid growth as revenue grew 11.4% year-over-year to RMB6.6 billion in the first quarter of 2021. The gross profit margin of our internet services segment reached 72.4% in the quarter.Our global internet user base continued to expand rapidly. In March 2021, the MAU of MIUI increased by 28.6% year-over-year to 425.3 million, while the MAU of MIUI in mainland China rose to 118.6 million, representing a year-over-year increase of 6.4% and a net gain of 7.7 million users from December 2020.In the first quarter of 2021, our advertising revenue reached another quarterly record high of RMB3.9 billion, representing an increase of 46.3% year-over-year. Driven by the expansion of our global user base and the robust growth of premium smartphone users, our advertising revenue, including pre-installation and search services, continued to advance.Our gaming revenue in the first quarter of 2021 increased by 24.8% quarter-over-quarter to RMB1.1 billion. We focused on deepening partnerships with high-quality content providers, while growth in our premium smartphone user base also continued to boost average gaming revenue per user.During the quarter, revenue from other value-added services decreased by 8.6% year-over-year to RMB1.6 billion, primarily because our fintech business further strengthened risk controls and proactively managed the balance of outstanding loans.As we broaden our TV internet service offerings and reached a larger user base, MAU of our smart TVs and Mi Box increased over 34.0% year-over-year in the quarter. Meanwhile, the number of our TV paid subscribers increased 8.2% year-over-year to 4.7 million as of March 31, 2021.In the first quarter of 2021, overseas internet services revenue increased 50.0% year-over-year to RMB0.9 billion, accounting for 13.8% of total internet services revenue. Our internet user base continued to expand in key overseas markets, with MAU of MIUI increasing 95.5% yearover-year in Western Europe. Going forward, we will further diversify our overseas internet service offerings and enhance user experience while driving growth in our overseas internet services business.5. Overseas markets In 2021, we have kept up our strong momentum in major markets around the world. In the first quarter, our revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, our market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally, and No. 1 in 12 countries and regions.We further improved our competitive positioning in key markets. According to Canalys, in the first quarter of 2021, we ranked top 2 for the first time in Europe with an 85.1% yearover-year increase in smartphone shipments and a market share of 22.7%. Notably, we ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as our smartphone shipments increased 81.8% year-over-year to reach 32.5% market share. We also ranked No. 1 for the first time in Russia with a market share of 32.1%. We retained top 3 position in Western Europe as our market share further rose to 16.6% with an 89.3% year-over-year increase in smartphone shipments. We ranked No. 1 in Spain for the 5th consecutive quarter, with 35.1% market share.Additionally, our market position rose to No. 2 in Italy, retained the No. 3 spot in Germany and France and entered the top 5 in the U.K. for the first time, all with growth rate in shipments exceeding 90% year-over-year. Moreover, we ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments, with a market share of 28.3%.We continued our strong growth momentum in new markets. According to Canalys, our position in Latin America rose to No. 3 as our smartphone shipments increased 161.7% yearover-year to reach 11.5% market share. In particular, we climbed to the No. 2 spot in Mexico with 16.7% market share and a 137.1% year-over-year growth in smartphone shipments.Additionally, we ranked No. 3 in the Middle East as our smartphone shipments increased 87.8% year-over-year. Meanwhile, we attained the No. 4 spot in Africa as our smartphone shipments increased 191.0% year-over-year.We continued to strengthen our channel capabilities in overseas markets. In the first quarter of 2021, we sold more than 5.0 million smartphones each via online channels and carrier channels in overseas markets, excluding India, representing year-over-year increases of over 100% and 310%, respectively. According to Canalys, our smartphone market share in Western Europe carrier channels increased to 11.3% in the first quarter of 2021 from 7.4% in the fourth quarter of 2020. As of March 31, 2021, we have established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.6. Core strategy updates Smartphone×AIoT “Smartphone × AIoT” remains at the core of our strategy as we continue to enhance our smart ecosystem. As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%. In March 2021, our AI Assistant (“小愛同學”) had 93.0 million MAU, and the MAU of our Mi Home App reached 49.2 million, representing a year-over-year increase of 22.8%. Investment in Technology Our relentless pursuit of cutting-edge technology and innovation forms the bedrock of our development and growth. In the first quarter of 2021, we recorded RMB3.0 billion in research and development expenses, representing a year-over-year increase of 61.0%. In the first quarter of 2021, we debuted our first self-developed Image Signal Processor Surge C1 on Mi MIX FOLD. Surge C1 enables more accurate auto focus, auto exposure and auto white balance, boasting another remarkable achievement in our imaging technology. Mi MIX FOLD also features the first liquid lens in a smartphone, replacing the traditional optical lens with a transparent fluid wrapped in film, and allowing telephoto as well as shooting with micro details. Moreover, we debuted the Mi 11 Ultra with an innovative battery technology featuring silicon-oxygen anode battery and new three-phase cooling technology, which rapidly dissipates heat through three substance state changes among solids, liquids and gases, and enables elevated endurance, super-fast charging capabilities and more solid product performance. These innovations are testaments to our continuous efforts to explore and push the boundaries of technological innovations. Moving forward, we will remain committed to ramping up R&D investments and recruiting global technological talents to relentlessly pursue innovations in core technologies as well as smart manufacturing. New Brand IdentityIn March 2021, we unveiled our upgraded brand identity including our new logo, setting forth on our new journey with a refreshed image as we embrace the next decade. Going forward, we will further strengthen our brand promotion efforts and elevate brand awareness across the globe. Commencement of Smart EV Business On March 30, 2021, we announced our plan to establish a wholly-owned subsidiary to manage our smart electric vehicle (“Smart EV”) business. The initial phase of investment will be RMB10 billion, with the total investment amount over the course of the next 10 years estimated to be USD10 billion. Mr. Lei Jun, the Chief Executive Officer of the Group, will concurrently serve as the Chief Executive Officer of the smart electric vehicle business. We hope to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere. Our broad user base, extensive experience in integrating software and hardware, our substantial investment in key technologies and resources across the value chain position us well to become a successful player in the Smart EV space. Investments As of March 31, 2021, we had invested in more than 320 companies with an aggregate book value of RMB51.9 billion, an increase of 60.8% year-over-year. As of March 31, 2021, the total amount of our investments (including (i) fair value of our stakes in listed investee companies accounted for using the equity method based on the stock price on March 31, 2021 (ii) book value of our stakes in unlisted investee companies accounted for using the equity method and (iii) book value of long-term investments measured at fair value through profit or loss) reached RMB69.7 billion. In the first quarter of 2021, we generated net gains (after tax) of RMB0.4 billion on disposal of 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new?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/137281608","repostId":"2138765488","repostType":4,"repost":{"id":"2138765488","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1622215232,"share":"https://ttm.financial/m/news/2138765488?lang=&edition=fundamental","pubTime":"2021-05-28 23:20","market":"us","language":"en","title":"Tesla shares dip on recall rumors","url":"https://stock-news.laohu8.com/highlight/detail?id=2138765488","media":"Reuters","summary":"May 28  - Shares of Tesla Inc fell more than 1% on Friday after an unverified tweet said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the tweet.","content":"<p>May 28 (Reuters) - Shares of Tesla Inc&nbsp;fell more than 1% on Friday after an unverified tweet&nbsp;said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.</p><p><img src=\"https://static.tigerbbs.com/ba675bb3c29017bd5165f1d31830b19e\" tg-width=\"794\" tg-height=\"614\" referrerpolicy=\"no-referrer\"></p><p>Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the tweet.</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>Tesla shares dip on recall rumors</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; 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla shares dip on recall rumors\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-28 23:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>May 28 (Reuters) - Shares of Tesla Inc&nbsp;fell more than 1% on Friday after an unverified tweet&nbsp;said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.</p><p><img src=\"https://static.tigerbbs.com/ba675bb3c29017bd5165f1d31830b19e\" tg-width=\"794\" tg-height=\"614\" referrerpolicy=\"no-referrer\"></p><p>Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the tweet.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138765488","content_text":"May 28 (Reuters) - Shares of Tesla Inc fell more than 1% on Friday after an unverified tweet said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the tweet.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119797041,"gmtCreate":1622563191783,"gmtModify":1704186462285,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Good news for the fight against the pandemic!","listText":"Good news for the fight against the pandemic!","text":"Good news for the fight against the pandemic!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/119797041","repostId":"1147781211","repostType":4,"isVote":1,"tweetType":1,"viewCount":2273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134854993,"gmtCreate":1622217331312,"gmtModify":1704181793599,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Never stops reinventing!","listText":"Never stops reinventing!","text":"Never stops reinventing!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/134854993","repostId":"2138610425","repostType":4,"isVote":1,"tweetType":1,"viewCount":948,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135329485,"gmtCreate":1622132937947,"gmtModify":1704180147888,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Good to generate competition!","listText":"Good to generate competition!","text":"Good to generate competition!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135329485","repostId":"1121857498","repostType":4,"repost":{"id":"1121857498","kind":"news","pubTimestamp":1622126802,"share":"https://ttm.financial/m/news/1121857498?lang=&edition=fundamental","pubTime":"2021-05-27 22:46","market":"us","language":"en","title":"Airbus Sets Plan to Boost Output, Igniting Aerospace Rally","url":"https://stock-news.laohu8.com/highlight/detail?id=1121857498","media":"Bloomberg","summary":"Airbus SE said it’s preparing to gear up production of its best-selling A320-series jets beyond pre-","content":"<p>Airbus SE said it’s preparing to gear up production of its best-selling A320-series jets beyond pre-pandemic levels within two years, sending a jolt of optimism into an aviation sector primed for a global recovery.</p><p>Aerospace shares jumped in Europe and the U.S. after the world’s largest maker of commercial jetliners told suppliers to be ready to raise output of the narrow-body planes to a rate of 64 per month by the second quarter of 2023.</p><p>That figure could rise to 70 a month early the following year, with 75 a possibility by 2025, Airbus said in a statement Thursday. Reaching that level would almost double its current, pandemic-depressed output.</p><p>The ambitious plan stands out in an industry that’s still struggling to gain traction after Covid-19 wiped out demand for air travel. Despite short-term flareups in the pandemic, the longer-term picture has brightened with the global rollout of vaccines. Airbus and U.S. rival Boeing Co. have been showing more confidence as airlines ramp up schedules for shorter flights. Still, the industry faces its next challenge with pressure to lower carbon emissions.</p><p>“We think it is premature, but Airbus is the one with a constant dialog with airline customers, and it has called things pretty well to date,” said Sandy Morris, an analyst with Jefferies. He said he’s concerned about further disruption from the pandemic and initiatives to cut emissions. “Nonetheless, Airbus will know all that too.”</p><p>Airbus shares surged 10% to 107.50 euros in Paris for their biggest intraday gain since November. In Europe, engine and component supplier Safran SA rose 4.6%, while Rolls-Royce Holdings Plc, which provides turbines for bigger planes, advanced 4.8%.</p><p>Chicago-based Boeing was up 4.1% at 10:02 a.m. in New York, after the head of Southwest Airlines Co., a big 737 customer, told the Dallas Morning News the discount carrier could grow by “hundreds of planes.” Engine supplier General Electric Co. added 4%, while Raytheon Technologies Corp., which owns Pratt &amp; Whitney, gained 1.8%.</p><p>Web of Suppliers</p><p>The Airbus announcement will give makers of parts ranging from engines to seats and avionics time to invest and be ready when demand returns.</p><p>Airbus’s comments are aimed partly at stress-testing its vast web of suppliers to ensure they can meet higher targets, while signaling to customers that it can comply with delivery requirements and won’t be open to order deferrals or cancellations, said Agency Partners analyst Sash Tusa.</p><p>Airbus and Boeing count on thousands of manufacturers who contribute to making commercial jetliners that can cost $100 million or more.</p><p>“The message to our supplier community provides visibility to the entire industrial ecosystem to secure the necessary capabilities and be ready when market conditions call for it,” Airbus Chief Executive Officer Guillaume Faury said in the statement.</p><p>Near-Term Jump</p><p>Airbus, based in Toulouse, France, has widened its lead in single-aisle planes over Boeing during the pandemic.</p><p>With Thursday’s announcement, the company confirmed earlier plans to raise production to 43 A320-family planes per month in the third quarter of this year, reaching 45 in the fourth quarter. The figure stands at 40 per month now, a third lower than it was when the outbreak hit in early 2020.</p><p>Airbus also plans to boost output of the smaller A220 to six per month from five in early 2022, with a 14 a month envisioned by the middle of the decade. Hitting that target will require significant further orders, Tusa said.</p><p>Boeing has also made progress getting past a global grounding of its 737 Max, the chief rival to the A320. The U.S. planemaker reiterated late last month that it plans to gradually increase production of the single-aisle jet to 31 a month in early 2022.</p><p>Wide-Body Plans</p><p>Larger twin-aisle aircraft are expected to take longer to recover as long-distance travel lags behind the rebound in regional hops. Airbus said it will keep production of its A330 planes at two per month, while looking to lift A350 output to six per month from five in the second half of 2022. Both are powered by Rolls-Royce engines.</p><p>In signaling to suppliers to prepare for the ramp-up, Airbus will be hoping to avoid a repeat of the reversal suffered after it announced an increase in production last October as coronavirus lockdowns were first lifted.</p><p>When a new wave of infection emerged it slowed down its plans in January, retreating from goal of reaching 47 A320s a month by July.</p><p>Faury will also want to be sure that both suppliers and Airbus’s own factories can cope with the stresses of record monthly rates. Airbus suffered delays in handovers prior to the pandemic as it struggled to comply with customization requests for the A321 version, prompting a cut to the 2019 delivery target.</p><p>Earlier this month, Airbus said that it had restarted work converting a French assembly line once used for its A380 super-jumbo to build single-aisle jets. It should be operational by the end of 2022.</p><p>Back in 2018, Airbus had been touting build rates of 70 or even 75 a month, but under Faury it reined in those ambitions. When the pandemic hit, the plan was to lift A320 series production to 63 a month, with Airbus looking at adding a further one or two to the total.</p>","source":"lsy1612507957220","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>Airbus Sets Plan to Boost Output, Igniting Aerospace Rally</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nAirbus Sets Plan to Boost Output, Igniting Aerospace Rally\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/airbus-sets-plan-boost-output-143418797.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Airbus SE said it’s preparing to gear up production of its best-selling A320-series jets beyond pre-pandemic levels within two years, sending a jolt of optimism into an aviation sector primed for a ...</p>\n\n<a href=\"https://finance.yahoo.com/news/airbus-sets-plan-boost-output-143418797.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/airbus-sets-plan-boost-output-143418797.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121857498","content_text":"Airbus SE said it’s preparing to gear up production of its best-selling A320-series jets beyond pre-pandemic levels within two years, sending a jolt of optimism into an aviation sector primed for a global recovery.Aerospace shares jumped in Europe and the U.S. after the world’s largest maker of commercial jetliners told suppliers to be ready to raise output of the narrow-body planes to a rate of 64 per month by the second quarter of 2023.That figure could rise to 70 a month early the following year, with 75 a possibility by 2025, Airbus said in a statement Thursday. Reaching that level would almost double its current, pandemic-depressed output.The ambitious plan stands out in an industry that’s still struggling to gain traction after Covid-19 wiped out demand for air travel. Despite short-term flareups in the pandemic, the longer-term picture has brightened with the global rollout of vaccines. Airbus and U.S. rival Boeing Co. have been showing more confidence as airlines ramp up schedules for shorter flights. Still, the industry faces its next challenge with pressure to lower carbon emissions.“We think it is premature, but Airbus is the one with a constant dialog with airline customers, and it has called things pretty well to date,” said Sandy Morris, an analyst with Jefferies. He said he’s concerned about further disruption from the pandemic and initiatives to cut emissions. “Nonetheless, Airbus will know all that too.”Airbus shares surged 10% to 107.50 euros in Paris for their biggest intraday gain since November. In Europe, engine and component supplier Safran SA rose 4.6%, while Rolls-Royce Holdings Plc, which provides turbines for bigger planes, advanced 4.8%.Chicago-based Boeing was up 4.1% at 10:02 a.m. in New York, after the head of Southwest Airlines Co., a big 737 customer, told the Dallas Morning News the discount carrier could grow by “hundreds of planes.” Engine supplier General Electric Co. added 4%, while Raytheon Technologies Corp., which owns Pratt & Whitney, gained 1.8%.Web of SuppliersThe Airbus announcement will give makers of parts ranging from engines to seats and avionics time to invest and be ready when demand returns.Airbus’s comments are aimed partly at stress-testing its vast web of suppliers to ensure they can meet higher targets, while signaling to customers that it can comply with delivery requirements and won’t be open to order deferrals or cancellations, said Agency Partners analyst Sash Tusa.Airbus and Boeing count on thousands of manufacturers who contribute to making commercial jetliners that can cost $100 million or more.“The message to our supplier community provides visibility to the entire industrial ecosystem to secure the necessary capabilities and be ready when market conditions call for it,” Airbus Chief Executive Officer Guillaume Faury said in the statement.Near-Term JumpAirbus, based in Toulouse, France, has widened its lead in single-aisle planes over Boeing during the pandemic.With Thursday’s announcement, the company confirmed earlier plans to raise production to 43 A320-family planes per month in the third quarter of this year, reaching 45 in the fourth quarter. The figure stands at 40 per month now, a third lower than it was when the outbreak hit in early 2020.Airbus also plans to boost output of the smaller A220 to six per month from five in early 2022, with a 14 a month envisioned by the middle of the decade. Hitting that target will require significant further orders, Tusa said.Boeing has also made progress getting past a global grounding of its 737 Max, the chief rival to the A320. The U.S. planemaker reiterated late last month that it plans to gradually increase production of the single-aisle jet to 31 a month in early 2022.Wide-Body PlansLarger twin-aisle aircraft are expected to take longer to recover as long-distance travel lags behind the rebound in regional hops. Airbus said it will keep production of its A330 planes at two per month, while looking to lift A350 output to six per month from five in the second half of 2022. Both are powered by Rolls-Royce engines.In signaling to suppliers to prepare for the ramp-up, Airbus will be hoping to avoid a repeat of the reversal suffered after it announced an increase in production last October as coronavirus lockdowns were first lifted.When a new wave of infection emerged it slowed down its plans in January, retreating from goal of reaching 47 A320s a month by July.Faury will also want to be sure that both suppliers and Airbus’s own factories can cope with the stresses of record monthly rates. Airbus suffered delays in handovers prior to the pandemic as it struggled to comply with customization requests for the A321 version, prompting a cut to the 2019 delivery target.Earlier this month, Airbus said that it had restarted work converting a French assembly line once used for its A380 super-jumbo to build single-aisle jets. It should be operational by the end of 2022.Back in 2018, Airbus had been touting build rates of 70 or even 75 a month, but under Faury it reined in those ambitions. When the pandemic hit, the plan was to lift A320 series production to 63 a month, with Airbus looking at adding a further one or two to the total.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1100,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136514175,"gmtCreate":1622027930197,"gmtModify":1704178089668,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Green","listText":"Green","text":"Green","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136514175","repostId":"2138199591","repostType":4,"repost":{"id":"2138199591","kind":"highlight","pubTimestamp":1622022666,"share":"https://ttm.financial/m/news/2138199591?lang=&edition=fundamental","pubTime":"2021-05-26 17:51","market":"us","language":"en","title":"Why Beyond Meat could see a big boost in sales beyond the pandemic","url":"https://stock-news.laohu8.com/highlight/detail?id=2138199591","media":"MarketWatch","summary":"Beyond Meat stock soars 10% after analyst upgrade\nDiners heading back to restaurants will expand acc","content":"<p>Beyond Meat stock soars 10% after analyst upgrade</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34b2f7a57915bc05128da8a8e8c2a794\" tg-width=\"1260\" tg-height=\"880\"><span>Diners heading back to restaurants will expand access to Beyond Meat beyond the grocery store. AFP VIA GETTY IMAGES</span></p>\n<p>Beyond Meat Inc. has been squeezed by the COVID-19 pandemic, but with the vaccine rollout driving the return to restaurants, Bernstein analysts are upbeat about the plant-based meat company's prospects.</p>\n<p>Bernstein upgraded Beyond Meat <a href=\"https://laohu8.com/S/BYND\">$(BYND)$</a> to outperform from underperform in a note published Monday, calling the company \"a reopening play that stands toregain meaningful momentum over the coming quarters.\"</p>\n<p>Bernstein has a $130 price target on Beyond Meat.</p>\n<p>Shares of the plant-based meat company soared 10% in Monday trading after the upgrade.</p>\n<p>One consequence of increased dining at home has been a rise in competition at the grocery store. Impossible Foods, which has been expanding in the retail channel as well as in restaurants, has benefited.</p>\n<p>There are reports that Impossible Foods is preparing for a $10 billion IPO .</p>\n<p>Beyond Meat has partnerships with McDonald's Corp. <a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>, as well as a number of other big chains , along with its own expanding retail availability.</p>\n<p>\"The drop off in foodservice sales had a very direct impact on the business domestically and internationally, and this in turn led to a marked acceleration in Impossible Foods' efforts to expand in retail channels,\" wrote Bernstein analysts led by Alexia Howard.</p>\n<p>\"We expect foodservice channels to rebound as consumer mobility improves post the pandemic and this should also lead to decreased competition in the U.S. retail channel.\"</p>\n<p>Moreover, Bernstein highlights the international expansion that will come with a new Dutch facility and the aforementioned McDonald's deal.</p>\n<p>In addition to the growing access, Beyond Meat, and the plant-based alternatives category more broadly, is getting a boost from consumer trends that favor fewer animal proteins for health and environmental purposes.</p>\n<p>\"Diets constantly evolve, and consumers are increasingly adhering to diets that limit animal products in some way,\" according to a report from Technomic, a data and analytics provider for the food-service industry.</p>\n<p>The flexitarian diet allows for a variety of animal-based items, and therefore isn't as strict as vegetarianism or veganism.</p>\n<p>\"The flexitarian diet has increased the most since 2018 and has the highest adherence, likely because it's the most accommodating and customizable,\" Technomic said.</p>\n<p>Even as diners head back out after a year of preparing most of their meals at home, Bernstein expects plant-based items to still populate plates.</p>\n<p>\"[W]hile meat alternatives as a category are clearly still being buoyed by the relative strength of food at home vs. food away from home and we would expect this to fade as reopening happens and foodservice channels open up, it certainly doesn't seem as though momentum for plant-based meats has evaporated during the pandemic,\" analysts said.</p>\n<p>Beyond Meat stock has fallen 4.3% for the year to date while the benchmark S&amp;P 500 index is up 11.5% for the period.</p>","source":"lsy1603348471595","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>Why Beyond Meat could see a big boost in sales beyond the pandemic</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nWhy Beyond Meat could see a big boost in sales beyond the pandemic\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 17:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/restaurant-resurgence-will-put-beyond-meat-back-on-track-analyst-says-11621887221?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Beyond Meat stock soars 10% after analyst upgrade\nDiners heading back to restaurants will expand access to Beyond Meat beyond the grocery store. AFP VIA GETTY IMAGES\nBeyond Meat Inc. has been squeezed...</p>\n\n<a href=\"https://www.marketwatch.com/story/restaurant-resurgence-will-put-beyond-meat-back-on-track-analyst-says-11621887221?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.marketwatch.com/story/restaurant-resurgence-will-put-beyond-meat-back-on-track-analyst-says-11621887221?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138199591","content_text":"Beyond Meat stock soars 10% after analyst upgrade\nDiners heading back to restaurants will expand access to Beyond Meat beyond the grocery store. AFP VIA GETTY IMAGES\nBeyond Meat Inc. has been squeezed by the COVID-19 pandemic, but with the vaccine rollout driving the return to restaurants, Bernstein analysts are upbeat about the plant-based meat company's prospects.\nBernstein upgraded Beyond Meat $(BYND)$ to outperform from underperform in a note published Monday, calling the company \"a reopening play that stands toregain meaningful momentum over the coming quarters.\"\nBernstein has a $130 price target on Beyond Meat.\nShares of the plant-based meat company soared 10% in Monday trading after the upgrade.\nOne consequence of increased dining at home has been a rise in competition at the grocery store. Impossible Foods, which has been expanding in the retail channel as well as in restaurants, has benefited.\nThere are reports that Impossible Foods is preparing for a $10 billion IPO .\nBeyond Meat has partnerships with McDonald's Corp. $(MCD)$, as well as a number of other big chains , along with its own expanding retail availability.\n\"The drop off in foodservice sales had a very direct impact on the business domestically and internationally, and this in turn led to a marked acceleration in Impossible Foods' efforts to expand in retail channels,\" wrote Bernstein analysts led by Alexia Howard.\n\"We expect foodservice channels to rebound as consumer mobility improves post the pandemic and this should also lead to decreased competition in the U.S. retail channel.\"\nMoreover, Bernstein highlights the international expansion that will come with a new Dutch facility and the aforementioned McDonald's deal.\nIn addition to the growing access, Beyond Meat, and the plant-based alternatives category more broadly, is getting a boost from consumer trends that favor fewer animal proteins for health and environmental purposes.\n\"Diets constantly evolve, and consumers are increasingly adhering to diets that limit animal products in some way,\" according to a report from Technomic, a data and analytics provider for the food-service industry.\nThe flexitarian diet allows for a variety of animal-based items, and therefore isn't as strict as vegetarianism or veganism.\n\"The flexitarian diet has increased the most since 2018 and has the highest adherence, likely because it's the most accommodating and customizable,\" Technomic said.\nEven as diners head back out after a year of preparing most of their meals at home, Bernstein expects plant-based items to still populate plates.\n\"[W]hile meat alternatives as a category are clearly still being buoyed by the relative strength of food at home vs. food away from home and we would expect this to fade as reopening happens and foodservice channels open up, it certainly doesn't seem as though momentum for plant-based meats has evaporated during the pandemic,\" analysts said.\nBeyond Meat stock has fallen 4.3% for the year to date while the benchmark S&P 500 index is up 11.5% for the period.","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":1283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136515934,"gmtCreate":1622027843828,"gmtModify":1704178088027,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Good infor","listText":"Good infor","text":"Good infor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136515934","repostId":"1142524290","repostType":4,"repost":{"id":"1142524290","kind":"news","pubTimestamp":1622016666,"share":"https://ttm.financial/m/news/1142524290?lang=&edition=fundamental","pubTime":"2021-05-26 16:11","market":"sh","language":"en","title":"Investing in China stocks in 2021? Here are 8 things investors should know","url":"https://stock-news.laohu8.com/highlight/detail?id=1142524290","media":"The Fifth Person","summary":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through ","content":"<p><img src=\"https://static.tigerbbs.com/2a8c0424e9949959e109c349918f9214\" tg-width=\"780\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.</p><p><b>1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.</b>Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.</p><p>Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.</p><p>With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)</p><p>It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.</p><table><thead><tr><th>SHARE CLASS</th><th>DEFINITION</th><th>STOCK EXCHANGE (CURRENCY)</th></tr></thead><tbody><tr><td>A</td><td>China securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).</td><td>Shanghai (RMB), Shenzen (RMB)</td></tr><tr><td>B</td><td>China securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).</td><td>Shanghai (USD), Shenzhen (HKD)</td></tr><tr><td>H</td><td>China securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Red-Chips</td><td>China securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>P-Chips</td><td>China securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Listed Overseas</td><td>China securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).</td><td>New York (USD), Singapore (SGD)</td></tr></tbody></table><p><i>Source:MSCI</i></p><p><b>2. Inclusion of China A-shares in the MSCI Emerging Index.</b>MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d589e0bc0f99baaa7aac9f300c998d46\" tg-width=\"769\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source:MSCI</span></p><p>Based on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.</p><p>As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.</p><p><b>3. Significant expansion of China’s capital markets.</b>The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2319859429c4f77a557d576d123cbb14\" tg-width=\"1000\" tg-height=\"584\" referrerpolicy=\"no-referrer\"><span>Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista</span></p><p><b>4. Chinese companies are becoming more market-oriented</b></p><p>Once largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.</p><p>However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.</p><p>An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e80728bb190c08bcd57f4e1aae9eb6f\" tg-width=\"793\" tg-height=\"384\" referrerpolicy=\"no-referrer\"><span>Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 2020</span></p><p><b>5. China markets are highly liquid.</b>Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.</p><p>This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ede208260949b6ed752a53512221d0df\" tg-width=\"1000\" tg-height=\"598\" referrerpolicy=\"no-referrer\"><span>MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World Index</span></p><p>However, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.</p><p><b>6. China equites offer portfolio diversification</b>. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e644c93e282f324321bef4392d05f52d\" tg-width=\"961\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&amp;P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.</span></p><p>Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.</p><p><b>7. Chinese trends that investors should pay attention to.</b>As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.</p><p>China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.</p><p>Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.</p><p>Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.</p><p><b>8. Risks that investors should heed.</b>Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.</p><p>At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.</p><p>The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.</p><p><b>The fifth perspective</b></p><p>China’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.</p><p>However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets. &nbsp;Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.</p><p>China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.</p><p>The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.</p>","source":"lsy1622016633088","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>Investing in China stocks in 2021? 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Here are 8 things investors should know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 16:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://fifthperson.com/china-stocks-2021/><strong>The Fifth Person</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In ...</p>\n\n<a href=\"https://fifthperson.com/china-stocks-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","STI.SI":"富时新加坡海峡指数","000001.SH":"上证指数"},"source_url":"https://fifthperson.com/china-stocks-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142524290","content_text":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.SHARE CLASSDEFINITIONSTOCK EXCHANGE (CURRENCY)AChina securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).Shanghai (RMB), Shenzen (RMB)BChina securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).Shanghai (USD), Shenzhen (HKD)HChina securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Red-ChipsChina securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)P-ChipsChina securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Listed OverseasChina securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).New York (USD), Singapore (SGD)Source:MSCI2. Inclusion of China A-shares in the MSCI Emerging Index.MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.Source:MSCIBased on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.3. Significant expansion of China’s capital markets.The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista4. Chinese companies are becoming more market-orientedOnce largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 20205. China markets are highly liquid.Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World IndexHowever, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.6. China equites offer portfolio diversification. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.7. Chinese trends that investors should pay attention to.As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.8. Risks that investors should heed.Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.The fifth perspectiveChina’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets.  Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"STI.SI":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":1385,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136512531,"gmtCreate":1622027805323,"gmtModify":1704178087697,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Good infor","listText":"Good infor","text":"Good infor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136512531","repostId":"1142524290","repostType":4,"repost":{"id":"1142524290","kind":"news","pubTimestamp":1622016666,"share":"https://ttm.financial/m/news/1142524290?lang=&edition=fundamental","pubTime":"2021-05-26 16:11","market":"sh","language":"en","title":"Investing in China stocks in 2021? Here are 8 things investors should know","url":"https://stock-news.laohu8.com/highlight/detail?id=1142524290","media":"The Fifth Person","summary":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through ","content":"<p><img src=\"https://static.tigerbbs.com/2a8c0424e9949959e109c349918f9214\" tg-width=\"780\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.</p><p><b>1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.</b>Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.</p><p>Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.</p><p>With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)</p><p>It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.</p><table><thead><tr><th>SHARE CLASS</th><th>DEFINITION</th><th>STOCK EXCHANGE (CURRENCY)</th></tr></thead><tbody><tr><td>A</td><td>China securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).</td><td>Shanghai (RMB), Shenzen (RMB)</td></tr><tr><td>B</td><td>China securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).</td><td>Shanghai (USD), Shenzhen (HKD)</td></tr><tr><td>H</td><td>China securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Red-Chips</td><td>China securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>P-Chips</td><td>China securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Listed Overseas</td><td>China securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).</td><td>New York (USD), Singapore (SGD)</td></tr></tbody></table><p><i>Source:MSCI</i></p><p><b>2. Inclusion of China A-shares in the MSCI Emerging Index.</b>MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d589e0bc0f99baaa7aac9f300c998d46\" tg-width=\"769\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source:MSCI</span></p><p>Based on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.</p><p>As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.</p><p><b>3. Significant expansion of China’s capital markets.</b>The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2319859429c4f77a557d576d123cbb14\" tg-width=\"1000\" tg-height=\"584\" referrerpolicy=\"no-referrer\"><span>Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista</span></p><p><b>4. Chinese companies are becoming more market-oriented</b></p><p>Once largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.</p><p>However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.</p><p>An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e80728bb190c08bcd57f4e1aae9eb6f\" tg-width=\"793\" tg-height=\"384\" referrerpolicy=\"no-referrer\"><span>Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 2020</span></p><p><b>5. China markets are highly liquid.</b>Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.</p><p>This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ede208260949b6ed752a53512221d0df\" tg-width=\"1000\" tg-height=\"598\" referrerpolicy=\"no-referrer\"><span>MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World Index</span></p><p>However, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.</p><p><b>6. China equites offer portfolio diversification</b>. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e644c93e282f324321bef4392d05f52d\" tg-width=\"961\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&amp;P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.</span></p><p>Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.</p><p><b>7. Chinese trends that investors should pay attention to.</b>As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.</p><p>China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.</p><p>Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.</p><p>Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.</p><p><b>8. Risks that investors should heed.</b>Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.</p><p>At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.</p><p>The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.</p><p><b>The fifth perspective</b></p><p>China’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.</p><p>However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets. &nbsp;Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.</p><p>China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.</p><p>The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.</p>","source":"lsy1622016633088","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>Investing in China stocks in 2021? Here are 8 things investors should know</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nInvesting in China stocks in 2021? Here are 8 things investors should know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 16:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://fifthperson.com/china-stocks-2021/><strong>The Fifth Person</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In ...</p>\n\n<a href=\"https://fifthperson.com/china-stocks-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","STI.SI":"富时新加坡海峡指数","000001.SH":"上证指数"},"source_url":"https://fifthperson.com/china-stocks-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142524290","content_text":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.SHARE CLASSDEFINITIONSTOCK EXCHANGE (CURRENCY)AChina securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).Shanghai (RMB), Shenzen (RMB)BChina securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).Shanghai (USD), Shenzhen (HKD)HChina securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Red-ChipsChina securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)P-ChipsChina securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Listed OverseasChina securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).New York (USD), Singapore (SGD)Source:MSCI2. Inclusion of China A-shares in the MSCI Emerging Index.MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.Source:MSCIBased on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.3. Significant expansion of China’s capital markets.The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista4. Chinese companies are becoming more market-orientedOnce largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 20205. China markets are highly liquid.Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World IndexHowever, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.6. China equites offer portfolio diversification. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.7. Chinese trends that investors should pay attention to.As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.8. Risks that investors should heed.Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.The fifth perspectiveChina’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets.  Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"STI.SI":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":738,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136512217,"gmtCreate":1622027795139,"gmtModify":1704178087369,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Good infor","listText":"Good infor","text":"Good infor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136512217","repostId":"1142524290","repostType":4,"repost":{"id":"1142524290","kind":"news","pubTimestamp":1622016666,"share":"https://ttm.financial/m/news/1142524290?lang=&edition=fundamental","pubTime":"2021-05-26 16:11","market":"sh","language":"en","title":"Investing in China stocks in 2021? Here are 8 things investors should know","url":"https://stock-news.laohu8.com/highlight/detail?id=1142524290","media":"The Fifth Person","summary":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through ","content":"<p><img src=\"https://static.tigerbbs.com/2a8c0424e9949959e109c349918f9214\" tg-width=\"780\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.</p><p><b>1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.</b>Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.</p><p>Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.</p><p>With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)</p><p>It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.</p><table><thead><tr><th>SHARE CLASS</th><th>DEFINITION</th><th>STOCK EXCHANGE (CURRENCY)</th></tr></thead><tbody><tr><td>A</td><td>China securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).</td><td>Shanghai (RMB), Shenzen (RMB)</td></tr><tr><td>B</td><td>China securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).</td><td>Shanghai (USD), Shenzhen (HKD)</td></tr><tr><td>H</td><td>China securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Red-Chips</td><td>China securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>P-Chips</td><td>China securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).</td><td>Hong Kong (HKD)</td></tr><tr><td>Listed Overseas</td><td>China securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).</td><td>New York (USD), Singapore (SGD)</td></tr></tbody></table><p><i>Source:MSCI</i></p><p><b>2. Inclusion of China A-shares in the MSCI Emerging Index.</b>MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d589e0bc0f99baaa7aac9f300c998d46\" tg-width=\"769\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source:MSCI</span></p><p>Based on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.</p><p>As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.</p><p><b>3. Significant expansion of China’s capital markets.</b>The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2319859429c4f77a557d576d123cbb14\" tg-width=\"1000\" tg-height=\"584\" referrerpolicy=\"no-referrer\"><span>Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista</span></p><p><b>4. Chinese companies are becoming more market-oriented</b></p><p>Once largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.</p><p>However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.</p><p>An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e80728bb190c08bcd57f4e1aae9eb6f\" tg-width=\"793\" tg-height=\"384\" referrerpolicy=\"no-referrer\"><span>Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 2020</span></p><p><b>5. China markets are highly liquid.</b>Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.</p><p>This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ede208260949b6ed752a53512221d0df\" tg-width=\"1000\" tg-height=\"598\" referrerpolicy=\"no-referrer\"><span>MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World Index</span></p><p>However, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.</p><p><b>6. China equites offer portfolio diversification</b>. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e644c93e282f324321bef4392d05f52d\" tg-width=\"961\" tg-height=\"288\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&amp;P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.</span></p><p>Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.</p><p><b>7. Chinese trends that investors should pay attention to.</b>As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.</p><p>China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.</p><p>Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.</p><p>Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.</p><p><b>8. Risks that investors should heed.</b>Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.</p><p>At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.</p><p>The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.</p><p><b>The fifth perspective</b></p><p>China’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.</p><p>However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets. &nbsp;Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.</p><p>China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.</p><p>The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.</p>","source":"lsy1622016633088","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>Investing in China stocks in 2021? 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Here are 8 things investors should know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 16:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://fifthperson.com/china-stocks-2021/><strong>The Fifth Person</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In ...</p>\n\n<a href=\"https://fifthperson.com/china-stocks-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","STI.SI":"富时新加坡海峡指数","000001.SH":"上证指数"},"source_url":"https://fifthperson.com/china-stocks-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142524290","content_text":"Despite being the initial epicenter of the COVID-19 outbreak, China’s resilience is shining through by being the first country to see a recovery from the economic downturn caused by the pandemic. In this article, we will look at China’s growing importance in global equity indices, the characteristics of the Chinese equity market, as well as the key trends and risks facing the dynamic transformation of China’s economy.1. China is the youngest market regionally, with the Shanghai and Shenzhen Stock Connect schemes launched only five years ago.Shanghai Connect was launched on 17 November 2014 followed by Shenzhen Connect on 5 December 2016. This enabled the integration of Chinese equities into the global financial system, raising the profile of Chinese companies, and was the beginning of China’s equity representation in the MSCI Emerging Markets Index.Investors can access the Chinese equity market through several share classes, the largest being A-shares. A-shares refer to companies listed on the Shanghai and Shenzhen stock exchanges and were previously only available for trading by mainland Chinese citizens. H-shares on the other hand are listed on the Hong Kong stock exchange and available for trading to all investors.With the Stock Connect schemes, investors outside of mainland China can now use the Hong Kong Exchange to buy A-shares in Shanghai or Shenzhen (known as ‘northbound’ trades) while Mainland China residents can use the Shanghai or Shenzhen exchanges to buy H-shares or Hong Kong-listed stocks. (known as ‘southbound’ trades)It is crucial for an investor to understanding the differences between the various share classes in China to make informed investment decisions. The table below includes key information that investors should know about the different types of China share classes.SHARE CLASSDEFINITIONSTOCK EXCHANGE (CURRENCY)AChina securities incorporated in Mainland China, listed on the Shanghai or Shenzhen Stock Exchange and traded in Renminbi (RMB).Shanghai (RMB), Shenzen (RMB)BChina securities incorporated in Mainland China, listed on the Shanghai Stock Exchange (USD) and Shenzhen Stock Exchange (HKD).Shanghai (USD), Shenzhen (HKD)HChina securities incorporated in Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Red-ChipsChina securities of state-owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)P-ChipsChina securities of non-government owned companies incorporated outside Mainland China, listed on the Hong Kong Stock Exchange (HKD).Hong Kong (HKD)Listed OverseasChina securities (including ADRs) incorporated outside Greater China (mainland China, Hong Kong, Macao and Taiwan); listed on the NYSE Euronext–New York, NASDAQ, NYSE AMEX (N-Shares) traded in USD; and Singapore (S-Shares) Exchanges traded in Singapore Dollars (SGD).New York (USD), Singapore (SGD)Source:MSCI2. Inclusion of China A-shares in the MSCI Emerging Index.MSCI began including China large-cap A-shares in the MSCI Emerging Index on 31 May 2018. Based on data from MSCI in 2018, China equities form 31.3% of the MSCI Emerging Markets Index at 5% inclusion.Source:MSCIBased on current market capitalizations, at a hypothetical 100% inclusion, China equities would comprise 42% of the MSCI Emerging Index in the future.As the inclusion factor of China A-Shares into the MSCI Emerging Markets Index is expected to rise, the exposure of institutional and foreign investors to A-shares should increase and reflect China’s growing importance in global equity indices.3. Significant expansion of China’s capital markets.The combined market capitalisation of the exchanges in Shanghai, Shenzhen, and Hong Kong is US$17.88 trillion (as of January 2021). China’s combined capital markets places it in third position within the top 10 largest stock exchange operators, with the New York Stock exchange and Nasdaq of the United States leading the rest of the world.Largest stock exchange operators worldwide as of January 2021, by market capitalization of listed companies (in trillion U.S. dollars). Source:Statista4. Chinese companies are becoming more market-orientedOnce largely out of reach to foreign investors, China’s state-owned enterprises (SOEs) held outsized influence over the country’s economy, leading many investors to question China’s corporate governance standards.However, over the last 15 years, non-strategic SOEs such as local consumer or technology businesses are behaving more like profit-seeking entities. Much of the investment activities that previously took place in private and venture capital markets are increasingly accessible to investors in listed equity markets.An increasing number of state-owned and privately owned enterprises offering employee stock-ownership programmes have been on the uptrend, turning employees into shareholders who have an active stake in the company’s success.Source: (Left) Wind, Allianz Global Investors as of 31 December 2020; (Right) Wind, Goldman Sachs as of 30 November 20205. China markets are highly liquid.Chinese equity markets have a high level of retail investor participation. Much of the investment activity is led by a culture of short-term trading. Frequent change of investor sentiments causes significant market volatility and reflects a dominant characteristic of local domestic investors who tend to speculate rather than invest based on informed valuations.This is evident in the MSCI indices, where Chinese equities rank the highest for turnover (buying and selling of shares) and standard deviation (volatility).MSCI Index Comparison of Turnover and Standard Deviation as of 31 March 2021. Source: MSCI China All Shares Index, MSCI World IndexHowever, markets with high turnover ratios are generally easier to trade (more investors are buying and selling) and therefore favourable to skilled investors employing momentum, market timing, and sector rotation strategies.6. China equites offer portfolio diversification. The stock movements of China’s A-shares are weakly correlated to stock movements in other equity markets. Over the last 10 years, China A-shares have seen a correlation of 0.21 compared to global equities. In comparison, U.S. shares have a correlation of 0.943 compared to stocks in global equity markets.Source: Bloomberg, Allianz Global Investors, as at 31 December 2020. China A-shares represented by MSCI China A Onshore Index; HK-listed China stocks by MSCI China Index; APxJ equities by MSCI AC Asia ex Japan Index; global emerging market equities by MSCI Emerging Markets Index; Japan equities by TOPIX Index; US equities by S&P 500 Index; European equities by MSCI Europe Index; world equities by MSCI World Index.Holding China equities can offer diversification benefits during market downturns such as the period of the COVID-19 pandemic when highly correlated asset classes fell.7. Chinese trends that investors should pay attention to.As China transits towards self-sufficiency, increased infrastructure spending, and upgrade of domestic consumption, the sectors expected to benefit are domestic tourism, machinery, solar energy, semiconductors, industrial automation, renewable energy and electric vehicles.China is the largest market for electric vehicles (EVs) globally. According to a McKinsey report, China’s EV market is about three to four times that of the U.S which could potentially propel Chinese EV makers into the global arena for the manufacturing of EVs, batteries and charging infrastructure.Major fund house analysts expect Chinese equities to continue performing well in the first half of 2021, with investors revising up their earnings forecasts for the year as policy initiatives related to self-sufficiency, domestic demand and sustainability attract investor attention.Central bank and regulators are also expected to exit from policy stimulus as China’s economic growth gradually returns to normal, triggering the recent profit-taking and sell offs in Chinese stock markets as the Chinese economy bottomed during the second quarter. Among the backdrop described above, China is still expected to achieve a mid-to-high single-digit GDP growth in 2021.8. Risks that investors should heed.Recent executive orders forbidding all U.S. persons from investing in the securities of companies deemed to be Chinese military companies were issued by the Trump administration. According to the executive order, all U.S. persons will also have to divest their holdings of these blacklisted securities by 11 November 2021.At an institutional level, U.S. funds and ETFs whose portfolio consists of these blacklisted constituents will have to remove such companies from their portfolios, causing performance deviation from major benchmarks and indexes these funds and ETFs measure against. Retail investors who buy into these companies, funds or ETFs could see valuation affected.The current situation remains extremely fluid and could reverse as the Biden administration begins a thorough review of its predecessor’s policies. Capital mobility restrictions, market accessibility, and under-coverage of Chinese companies continue to be a current challenge for global asset managers and foreign investors.The fifth perspectiveChina’s equity markets have increasingly liberalized and are still undergoing a transformation as we speak. As a result of these efforts, China equity has become more accessible for international investors compared to just five years ago.However, the ongoing U.S.-China tensions continue to undermine confidence in China equity. The recent executive order blacklisting China companies is a good example. This will continue to be an ongoing dynamic as the international investing community adjusts to China’s increasing inclusion in the global financial markets.  Another detractor would be the relatively inexperienced Chinese retail investor and their trading culture where frequent sector rotation and sudden swings in market sentiment affects share prices.China’s future economic growth drivers is increasingly underpinned by self-sufficiency initiatives. As China aims to increase capital expenditures in infrastructure, technologies and domestic consumption, the number of listed companies and market capitalisations is expected to rise and provide an increasing pool of opportunities for investors.The majority of global investors today still own an incomplete China equity portfolio. With selective stock picking, investors can increase exposure to China’s growth story, add meaningful diversification to their portfolio and potentially benefit from greater risk-returns.","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"STI.SI":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":1057,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136536844,"gmtCreate":1622026986488,"gmtModify":1704178070798,"author":{"id":"3583642893131936","authorId":"3583642893131936","name":"JacAng","avatar":"https://static.tigerbbs.com/03c3c12f3fed588550c7a4647eff7a71","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583642893131936","idStr":"3583642893131936"},"themes":[],"htmlText":"Time to go up!","listText":"Time to go up!","text":"Time to go up!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136536844","repostId":"1124807870","repostType":4,"repost":{"id":"1124807870","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622024544,"share":"https://ttm.financial/m/news/1124807870?lang=&edition=fundamental","pubTime":"2021-05-26 18:22","market":"hk","language":"en","title":"Xiaomi Corp's 1Q Results Beat Estimates","url":"https://stock-news.laohu8.com/highlight/detail?id=1124807870","media":"Tiger Newspress","summary":"Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business","content":"<p>Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.</p><p>In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.</p><p>In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business reached 12.9%, and the global shipment of smart phones reached 49.4 million.</p><p></p><p><img src=\"https://static.tigerbbs.com/0f06f643ff0783b170e7259dff684f3b\" tg-width=\"1187\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><b>KEY HIGHLIGHTS</b></p><p><b>1. Overall Performance </b></p><p>In the first quarter of 2021, the total revenue amounted to RMB&nbsp;76.9 billion, representing an increase of 54.7% year-over-year; adjusted net profit for the period was RMB6.1 billion, an increase of 163.8% year-over-year. Notably, both the total revenue and adjusted net profit reached record highs in the quarter, demonstrating the robustness of our business model and the strong execution of our strategies.</p><p>Our core strategy of “Smartphone × AIoT” continued to underpin the outstanding performance.</p><p>In the first quarter of 2021,the global smartphone shipments increased by 69.1% year-overyear to 49.4 million units. According to Canalys, Xiaomi maintained a top 3 position in the global smartphone market this quarter, with a market share of 14.1% in terms of shipments. The strong growth of smartphone shipments drove the continued expansion of our global user base.</p><p>In March 2021, the global monthly active users (“MAU”) of MIUI reached 425.3 million, an increase of 28.6% year-over-year. At the same time, our AIoT platform continued scaling up, with the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reaching 351.1 million as of March 31, 2021. In March 2021, the MAU of our AI assistant “小愛同學” reached 93.0 million.</p><p>Our smartphone business maintained significant growth in mainland China. According to Canalys, our smartphone shipments in mainland China market grew 74.6% year-over-year, with market share ranking 4th in the first quarter of 2021. Additionally, our internet user base continued to grow. In March 2021, the MAU of MIUI in mainland China reached 118.6 million, representing an increase of 7.7 million, or 6.9%, from December 2020.</p><p>We continue to enrich our product portfolio to further promote our competitiveness in the premium smartphone market. Notably, our three premium smartphones Mi MIX FOLD, Mi 11 Ultra and Mi 11 Pro all delivered remarkable sales performance immediately following their release in March 2021. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 4 million units.</p><p>Meanwhile, as we further expanded our overseas business, our revenue from overseas markets amounted to RMB37.4 billion in the first quarter of 2021, representing a year-over-year increase of 50.6%. According to Canalys, in terms of smartphone shipments, our market share ranked among the top 5 smartphone companies in 62 countries and regions globally in the first quarter of 2021. Additionally, we ranked No. 2 in Europe for the first time, and rose to the 3rd position in Latin America in market share.</p><p>Besides delivering solid growth in our existing businesses, we continue to explore new opportunities and broaden our business boundaries. In March 2021, we unveiled our new brand identity, and also announced our official foray into the smart electric vehicle business, setting course on an exciting journey for the next decade.</p><p><b>2. Smartphones </b></p><p>In the first quarter of 2021, our smartphone business continued to grow significantly.</p><p>Smartphone revenue amounted to RMB51.5 billion in the quarter, representing an increase of 69.8% year-over-year. The gross profit margin of our smartphone business was 12.9% in this quarter, and our global smartphone shipments reached 49.4 million units. According to Canalys, we maintained our 3rd position globally in terms of smartphone shipments in the quarter, with a market share of 14.1%.</p><p>Our smartphone business in mainland China maintained rapid growth. According to Canalys, in the first quarter of 2021, we rose to the 4th position with a market share of 14.6%. We further strengthened our market position in online channels. According to third-party data, our online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020. Meanwhile, we also expanded our offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.</p><p>We continued to execute our dual-brand strategy. During the quarter, we unveiled a series of new products under the Xiaomi brand, including Mi 10S, Mi 11 Lite, Mi 11 Pro, Mi 11 Ultra and Mi MIX FOLD. In particular, with prices starting from RMB9,999, our ultra-premium flagship product Mi MIX FOLD comes equipped with 2K+ foldable display, which offers a remarkable large-screen interactive experience in imaging, reading, video, gaming, etc. It is equipped with Xiaomi’s first self-developed Surge C1 Image Signal Processor optimized for professional photography. It is also the world’s first smartphone to feature a liquid lens. Also,</p><p>Mi 11 Ultra, with prices starting from RMB5,999, debuted the 50MP GN2 sensor. It comes equipped with the 120x digital zoom periscope lens, and an ultra-wide angle camera capable of capturing a stunningly wide 128° field of view. With these features, Mi 11 Ultra achieved a DXOMARK score of 143 for overall camera performance, ranking 1st globally at the time of launch. Additionally, with diversified designs and functions, Mi 11 Pro and Mi 11 Lite cater to a wide range of demands from various customers. From January 1 to April 30, 2021, total orders of Mi 11, Mi 11 Pro and Mi 11 Ultra exceeded 3 million units, and the sales of our Mi 11 series ranked No. 1 among Android smartphones with prices between RMB4,000 and RMB6,000 in mainland China, according to third-party data.</p><p>We also offered new positioning and expanded product choices of our Redmi brand. In February 2021, we unveiled Redmi K40, Redmi K40 Pro and Redmi K40 Pro+, which were well received by the market. In April 2021, we unveiled Redmi K40 Gaming Edition with prices starting from RMB1,999. Equipped with the MediaTek Dimensity 1200 processor, Redmi K40 Gaming Edition offers superb gaming performance. Featuring unparalleled heat dissipation, fast charging capabilities, physical pop-up gaming triggers and an ultra-thin body design, it delivers an exceptional gaming experience to the mass market.</p><p>Our enriched premium product portfolio underpinned our robust growth in the premium smartphone market. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300 or equivalent in overseas markets exceeded 4 million units. In addition, according to third-party data, our market share for smartphones with prices between RMB4,000 and RMB6,000 in mainland China increased to 16.1% in the first quarter of 2021 from 5.5% in the first quarter of 2020.</p><p><b>3. IoT and lifestyle products </b></p><p>In the first quarter of 2021, IoT and lifestyle products segment witnessed strong performance, with revenue increasing 40.5% year-over-year to RMB18.2 billion.</p><p>In the first quarter of 2021, global shipments of our smart TVs reached 2.6 million units. According to All View Cloud (“AVC”), our TV shipments ranked No. 1 in mainland China for the 9th consecutive quarter, and remained top five globally. In addition, our large-screen smart TVs continued to gain widespread popularity in the market. According to AVC, Xiaomi and Redmi TVs continued to rank No. 1 by retail sales volume in the over 70-inch TV market in mainland China, with a market share of 29.0%, as retail sales volume increased over 160.0% year-over-year. In February 2021, we introduced Redmi MAX 86” super-size TV, which was well received by the market.</p><p>During the quarter, we introduced a number of new products with innovative features in our key IoT product categories. We unveiled Mi Smart AC with Ventilation, which takes clean fresh air from the outside to effectively lower indoor carbon-dioxide levels and brings a healthy and comfortable experience to our users, furthering the adoption of a new generation of smart air conditioners with ventilation. Meanwhile, we also unveiled Mi Laptop Pro 15”, featuring a wide color gamut OLED display with 1.07 billion colors to deliver an extraordinary visual experience to our users. Furthermore, we introduced Mi Router AX9000 with price at RMB999.</p><p>Its top speed of 9,000 Mbps based on three frequency bands and excellent signal coverage support e-sport-level user experiences.</p><p>We are leveraging our smartphone research and development capabilities to enhance our wearables business, strengthening the synergies between the two businesses. In the first quarter of 2021, revenue from our smart watch segment increased over 300.0% year-overyear. Additionally, we introduced our new generation smart wristband Mi Smart Band 6 in the quarter, with a full screen display while further optimizing our health and fitness algorithm.</p><p>In mainland China, we maintained our top 3 position in market share across a wide array of smart home product categories. According to “IDC PRC Quarterly Smart Home Device Tracker, 2020Q4,” we ranked No. 1 in air purifiers and smart door locks, and No. 2 in robot vacuum cleaners.</p><p>Our IoT and lifestyle product segment also continued on its rapid growth trajectory in overseas markets. Revenue from our IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. Our electric scooters, air purifiers, Mi Box and other products maintained their widespread popularity.</p><p><b>4. Internet services </b></p><p>Our internet services segment continued its solid growth as revenue grew 11.4% year-over-year to RMB6.6 billion in the first quarter of 2021. The gross profit margin of our internet services segment reached 72.4% in the quarter.</p><p>Our global internet user base continued to expand rapidly. In March 2021, the MAU of MIUI increased by 28.6% year-over-year to 425.3 million, while the MAU of MIUI in mainland China rose to 118.6 million, representing a year-over-year increase of 6.4% and a net gain of 7.7 million users from December 2020.</p><p>In the first quarter of 2021, our advertising revenue reached another quarterly record high of RMB3.9 billion, representing an increase of 46.3% year-over-year. Driven by the expansion of our global user base and the robust growth of premium smartphone users, our advertising revenue, including pre-installation and search services, continued to advance.</p><p>Our gaming revenue in the first quarter of 2021 increased by 24.8% quarter-over-quarter to RMB1.1 billion. We focused on deepening partnerships with high-quality content providers, while growth in our premium smartphone user base also continued to boost average gaming revenue per user.</p><p>During the quarter, revenue from other value-added services decreased by 8.6% year-over-year to RMB1.6 billion, primarily because our fintech business further strengthened risk controls and proactively managed the balance of outstanding loans.</p><p>As we broaden our TV internet service offerings and reached a larger user base, MAU of our smart TVs and Mi Box increased over 34.0% year-over-year in the quarter. Meanwhile, the number of our TV paid subscribers increased 8.2% year-over-year to 4.7 million as of March 31, 2021.</p><p>In the first quarter of 2021, overseas internet services revenue increased 50.0% year-over-year to RMB0.9 billion, accounting for 13.8% of total internet services revenue. Our internet user base continued to expand in key overseas markets, with MAU of MIUI increasing 95.5% yearover-year in Western Europe. Going forward, we will further diversify our overseas internet service offerings and enhance user experience while driving growth in our overseas internet services business.</p><p><b>5. Overseas markets </b></p><p>In 2021, we have kept up our strong momentum in major markets around the world. In the first quarter, our revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, our market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally, and No. 1 in 12 countries and regions.</p><p>We further improved our competitive positioning in key markets. According to Canalys, in the first quarter of 2021, we ranked top 2 for the first time in Europe with an 85.1% yearover-year increase in smartphone shipments and a market share of 22.7%. Notably, we ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as our smartphone shipments increased 81.8% year-over-year to reach 32.5% market share. We also ranked No. 1 for the first time in Russia with a market share of 32.1%. We retained top 3 position in Western Europe as our market share further rose to 16.6% with an 89.3% year-over-year increase in smartphone shipments. We ranked No. 1 in Spain for the 5th consecutive quarter, with 35.1% market share.</p><p>Additionally, our market position rose to No. 2 in Italy, retained the No. 3 spot in Germany and France and entered the top 5 in the U.K. for the first time, all with growth rate in shipments exceeding 90% year-over-year. Moreover, we ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments, with a market share of 28.3%.</p><p>We continued our strong growth momentum in new markets. According to Canalys, our position in Latin America rose to No. 3 as our smartphone shipments increased 161.7% yearover-year to reach 11.5% market share. In particular, we climbed to the No. 2 spot in Mexico with 16.7% market share and a 137.1% year-over-year growth in smartphone shipments.</p><p>Additionally, we ranked No. 3 in the Middle East as our smartphone shipments increased 87.8% year-over-year. Meanwhile, we attained the No. 4 spot in Africa as our smartphone shipments increased 191.0% year-over-year.</p><p>We continued to strengthen our channel capabilities in overseas markets. In the first quarter of 2021, we sold more than 5.0 million smartphones each via online channels and carrier channels in overseas markets, excluding India, representing year-over-year increases of over 100% and 310%, respectively. According to Canalys, our smartphone market share in Western Europe carrier channels increased to 11.3% in the first quarter of 2021 from 7.4% in the fourth quarter of 2020. As of March 31, 2021, we have established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.</p><p><b>6. Core strategy updates </b></p><p><b>Smartphone×AIoT </b></p><p>“Smartphone × AIoT” remains at the core of our strategy as we continue to enhance our smart ecosystem. As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%. In March 2021, our AI Assistant (“小愛同學”) had 93.0 million MAU, and the MAU of our Mi Home App reached 49.2 million, representing a year-over-year increase of 22.8%. </p><p>Investment in Technology Our relentless pursuit of cutting-edge technology and innovation forms the bedrock of our development and growth. In the first quarter of 2021, we recorded RMB3.0 billion in research and development expenses, representing a year-over-year increase of 61.0%. </p><p>In the first quarter of 2021, we debuted our first self-developed Image Signal Processor Surge C1 on Mi MIX FOLD. Surge C1 enables more accurate auto focus, auto exposure and auto white balance, boasting another remarkable achievement in our imaging technology. Mi MIX FOLD also features the first liquid lens in a smartphone, replacing the traditional optical lens with a transparent fluid wrapped in film, and allowing telephoto as well as shooting with micro details. Moreover, we debuted the Mi 11 Ultra with an innovative battery technology featuring silicon-oxygen anode battery and new three-phase cooling technology, which rapidly dissipates heat through three substance state changes among solids, liquids and gases, and enables elevated endurance, super-fast charging capabilities and more solid product performance. These innovations are testaments to our continuous efforts to explore and push the boundaries of technological innovations. </p><p>Moving forward, we will remain committed to ramping up R&amp;D investments and recruiting global technological talents to relentlessly pursue innovations in core technologies as well as smart manufacturing. </p><p><b>New Brand Identity</b></p><p>In March 2021, we unveiled our upgraded brand identity including our new logo, setting forth on our new journey with a refreshed image as we embrace the next decade. Going forward, we will further strengthen our brand promotion efforts and elevate brand awareness across the globe. </p><p><b>Commencement of Smart EV Business </b></p><p>On March 30, 2021, we announced our plan to establish a wholly-owned subsidiary to manage our smart electric vehicle (“Smart EV”) business. The initial phase of investment will be RMB10 billion, with the total investment amount over the course of the next 10 years estimated to be USD10 billion. Mr. Lei Jun, the Chief Executive Officer of the Group, will concurrently serve as the Chief Executive Officer of the smart electric vehicle business. </p><p>We hope to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere. Our broad user base, extensive experience in integrating software and hardware, our substantial investment in key technologies and resources across the value chain position us well to become a successful player in the Smart EV space. </p><p><b>Investments </b></p><p>As of March 31, 2021, we had invested in more than 320 companies with an aggregate book value of RMB51.9 billion, an increase of 60.8% year-over-year. As of March 31, 2021, the total amount of our investments (including (i) fair value of our stakes in listed investee companies accounted for using the equity method based on the stock price on March 31, 2021 (ii) book value of our stakes in unlisted investee companies accounted for using the equity method and (iii) book value of long-term investments measured at fair value through profit or loss) reached RMB69.7 billion. In the first quarter of 2021, we generated net gains (after tax) of RMB0.4 billion on disposal of investments.</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>Xiaomi Corp's 1Q Results Beat Estimates</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nXiaomi Corp's 1Q Results Beat Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\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\">Tiger Newspress </p>\n<p class=\"h-time\">2021-05-26 18:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.</p><p>In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.</p><p>In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business reached 12.9%, and the global shipment of smart phones reached 49.4 million.</p><p></p><p><img src=\"https://static.tigerbbs.com/0f06f643ff0783b170e7259dff684f3b\" tg-width=\"1187\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><b>KEY HIGHLIGHTS</b></p><p><b>1. Overall Performance </b></p><p>In the first quarter of 2021, the total revenue amounted to RMB&nbsp;76.9 billion, representing an increase of 54.7% year-over-year; adjusted net profit for the period was RMB6.1 billion, an increase of 163.8% year-over-year. Notably, both the total revenue and adjusted net profit reached record highs in the quarter, demonstrating the robustness of our business model and the strong execution of our strategies.</p><p>Our core strategy of “Smartphone × AIoT” continued to underpin the outstanding performance.</p><p>In the first quarter of 2021,the global smartphone shipments increased by 69.1% year-overyear to 49.4 million units. According to Canalys, Xiaomi maintained a top 3 position in the global smartphone market this quarter, with a market share of 14.1% in terms of shipments. The strong growth of smartphone shipments drove the continued expansion of our global user base.</p><p>In March 2021, the global monthly active users (“MAU”) of MIUI reached 425.3 million, an increase of 28.6% year-over-year. At the same time, our AIoT platform continued scaling up, with the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reaching 351.1 million as of March 31, 2021. In March 2021, the MAU of our AI assistant “小愛同學” reached 93.0 million.</p><p>Our smartphone business maintained significant growth in mainland China. According to Canalys, our smartphone shipments in mainland China market grew 74.6% year-over-year, with market share ranking 4th in the first quarter of 2021. Additionally, our internet user base continued to grow. In March 2021, the MAU of MIUI in mainland China reached 118.6 million, representing an increase of 7.7 million, or 6.9%, from December 2020.</p><p>We continue to enrich our product portfolio to further promote our competitiveness in the premium smartphone market. Notably, our three premium smartphones Mi MIX FOLD, Mi 11 Ultra and Mi 11 Pro all delivered remarkable sales performance immediately following their release in March 2021. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 4 million units.</p><p>Meanwhile, as we further expanded our overseas business, our revenue from overseas markets amounted to RMB37.4 billion in the first quarter of 2021, representing a year-over-year increase of 50.6%. According to Canalys, in terms of smartphone shipments, our market share ranked among the top 5 smartphone companies in 62 countries and regions globally in the first quarter of 2021. Additionally, we ranked No. 2 in Europe for the first time, and rose to the 3rd position in Latin America in market share.</p><p>Besides delivering solid growth in our existing businesses, we continue to explore new opportunities and broaden our business boundaries. In March 2021, we unveiled our new brand identity, and also announced our official foray into the smart electric vehicle business, setting course on an exciting journey for the next decade.</p><p><b>2. Smartphones </b></p><p>In the first quarter of 2021, our smartphone business continued to grow significantly.</p><p>Smartphone revenue amounted to RMB51.5 billion in the quarter, representing an increase of 69.8% year-over-year. The gross profit margin of our smartphone business was 12.9% in this quarter, and our global smartphone shipments reached 49.4 million units. According to Canalys, we maintained our 3rd position globally in terms of smartphone shipments in the quarter, with a market share of 14.1%.</p><p>Our smartphone business in mainland China maintained rapid growth. According to Canalys, in the first quarter of 2021, we rose to the 4th position with a market share of 14.6%. We further strengthened our market position in online channels. According to third-party data, our online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020. Meanwhile, we also expanded our offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.</p><p>We continued to execute our dual-brand strategy. During the quarter, we unveiled a series of new products under the Xiaomi brand, including Mi 10S, Mi 11 Lite, Mi 11 Pro, Mi 11 Ultra and Mi MIX FOLD. In particular, with prices starting from RMB9,999, our ultra-premium flagship product Mi MIX FOLD comes equipped with 2K+ foldable display, which offers a remarkable large-screen interactive experience in imaging, reading, video, gaming, etc. It is equipped with Xiaomi’s first self-developed Surge C1 Image Signal Processor optimized for professional photography. It is also the world’s first smartphone to feature a liquid lens. Also,</p><p>Mi 11 Ultra, with prices starting from RMB5,999, debuted the 50MP GN2 sensor. It comes equipped with the 120x digital zoom periscope lens, and an ultra-wide angle camera capable of capturing a stunningly wide 128° field of view. With these features, Mi 11 Ultra achieved a DXOMARK score of 143 for overall camera performance, ranking 1st globally at the time of launch. Additionally, with diversified designs and functions, Mi 11 Pro and Mi 11 Lite cater to a wide range of demands from various customers. From January 1 to April 30, 2021, total orders of Mi 11, Mi 11 Pro and Mi 11 Ultra exceeded 3 million units, and the sales of our Mi 11 series ranked No. 1 among Android smartphones with prices between RMB4,000 and RMB6,000 in mainland China, according to third-party data.</p><p>We also offered new positioning and expanded product choices of our Redmi brand. In February 2021, we unveiled Redmi K40, Redmi K40 Pro and Redmi K40 Pro+, which were well received by the market. In April 2021, we unveiled Redmi K40 Gaming Edition with prices starting from RMB1,999. Equipped with the MediaTek Dimensity 1200 processor, Redmi K40 Gaming Edition offers superb gaming performance. Featuring unparalleled heat dissipation, fast charging capabilities, physical pop-up gaming triggers and an ultra-thin body design, it delivers an exceptional gaming experience to the mass market.</p><p>Our enriched premium product portfolio underpinned our robust growth in the premium smartphone market. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300 or equivalent in overseas markets exceeded 4 million units. In addition, according to third-party data, our market share for smartphones with prices between RMB4,000 and RMB6,000 in mainland China increased to 16.1% in the first quarter of 2021 from 5.5% in the first quarter of 2020.</p><p><b>3. IoT and lifestyle products </b></p><p>In the first quarter of 2021, IoT and lifestyle products segment witnessed strong performance, with revenue increasing 40.5% year-over-year to RMB18.2 billion.</p><p>In the first quarter of 2021, global shipments of our smart TVs reached 2.6 million units. According to All View Cloud (“AVC”), our TV shipments ranked No. 1 in mainland China for the 9th consecutive quarter, and remained top five globally. In addition, our large-screen smart TVs continued to gain widespread popularity in the market. According to AVC, Xiaomi and Redmi TVs continued to rank No. 1 by retail sales volume in the over 70-inch TV market in mainland China, with a market share of 29.0%, as retail sales volume increased over 160.0% year-over-year. In February 2021, we introduced Redmi MAX 86” super-size TV, which was well received by the market.</p><p>During the quarter, we introduced a number of new products with innovative features in our key IoT product categories. We unveiled Mi Smart AC with Ventilation, which takes clean fresh air from the outside to effectively lower indoor carbon-dioxide levels and brings a healthy and comfortable experience to our users, furthering the adoption of a new generation of smart air conditioners with ventilation. Meanwhile, we also unveiled Mi Laptop Pro 15”, featuring a wide color gamut OLED display with 1.07 billion colors to deliver an extraordinary visual experience to our users. Furthermore, we introduced Mi Router AX9000 with price at RMB999.</p><p>Its top speed of 9,000 Mbps based on three frequency bands and excellent signal coverage support e-sport-level user experiences.</p><p>We are leveraging our smartphone research and development capabilities to enhance our wearables business, strengthening the synergies between the two businesses. In the first quarter of 2021, revenue from our smart watch segment increased over 300.0% year-overyear. Additionally, we introduced our new generation smart wristband Mi Smart Band 6 in the quarter, with a full screen display while further optimizing our health and fitness algorithm.</p><p>In mainland China, we maintained our top 3 position in market share across a wide array of smart home product categories. According to “IDC PRC Quarterly Smart Home Device Tracker, 2020Q4,” we ranked No. 1 in air purifiers and smart door locks, and No. 2 in robot vacuum cleaners.</p><p>Our IoT and lifestyle product segment also continued on its rapid growth trajectory in overseas markets. Revenue from our IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. Our electric scooters, air purifiers, Mi Box and other products maintained their widespread popularity.</p><p><b>4. Internet services </b></p><p>Our internet services segment continued its solid growth as revenue grew 11.4% year-over-year to RMB6.6 billion in the first quarter of 2021. The gross profit margin of our internet services segment reached 72.4% in the quarter.</p><p>Our global internet user base continued to expand rapidly. In March 2021, the MAU of MIUI increased by 28.6% year-over-year to 425.3 million, while the MAU of MIUI in mainland China rose to 118.6 million, representing a year-over-year increase of 6.4% and a net gain of 7.7 million users from December 2020.</p><p>In the first quarter of 2021, our advertising revenue reached another quarterly record high of RMB3.9 billion, representing an increase of 46.3% year-over-year. Driven by the expansion of our global user base and the robust growth of premium smartphone users, our advertising revenue, including pre-installation and search services, continued to advance.</p><p>Our gaming revenue in the first quarter of 2021 increased by 24.8% quarter-over-quarter to RMB1.1 billion. We focused on deepening partnerships with high-quality content providers, while growth in our premium smartphone user base also continued to boost average gaming revenue per user.</p><p>During the quarter, revenue from other value-added services decreased by 8.6% year-over-year to RMB1.6 billion, primarily because our fintech business further strengthened risk controls and proactively managed the balance of outstanding loans.</p><p>As we broaden our TV internet service offerings and reached a larger user base, MAU of our smart TVs and Mi Box increased over 34.0% year-over-year in the quarter. Meanwhile, the number of our TV paid subscribers increased 8.2% year-over-year to 4.7 million as of March 31, 2021.</p><p>In the first quarter of 2021, overseas internet services revenue increased 50.0% year-over-year to RMB0.9 billion, accounting for 13.8% of total internet services revenue. Our internet user base continued to expand in key overseas markets, with MAU of MIUI increasing 95.5% yearover-year in Western Europe. Going forward, we will further diversify our overseas internet service offerings and enhance user experience while driving growth in our overseas internet services business.</p><p><b>5. Overseas markets </b></p><p>In 2021, we have kept up our strong momentum in major markets around the world. In the first quarter, our revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, our market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally, and No. 1 in 12 countries and regions.</p><p>We further improved our competitive positioning in key markets. According to Canalys, in the first quarter of 2021, we ranked top 2 for the first time in Europe with an 85.1% yearover-year increase in smartphone shipments and a market share of 22.7%. Notably, we ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as our smartphone shipments increased 81.8% year-over-year to reach 32.5% market share. We also ranked No. 1 for the first time in Russia with a market share of 32.1%. We retained top 3 position in Western Europe as our market share further rose to 16.6% with an 89.3% year-over-year increase in smartphone shipments. We ranked No. 1 in Spain for the 5th consecutive quarter, with 35.1% market share.</p><p>Additionally, our market position rose to No. 2 in Italy, retained the No. 3 spot in Germany and France and entered the top 5 in the U.K. for the first time, all with growth rate in shipments exceeding 90% year-over-year. Moreover, we ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments, with a market share of 28.3%.</p><p>We continued our strong growth momentum in new markets. According to Canalys, our position in Latin America rose to No. 3 as our smartphone shipments increased 161.7% yearover-year to reach 11.5% market share. In particular, we climbed to the No. 2 spot in Mexico with 16.7% market share and a 137.1% year-over-year growth in smartphone shipments.</p><p>Additionally, we ranked No. 3 in the Middle East as our smartphone shipments increased 87.8% year-over-year. Meanwhile, we attained the No. 4 spot in Africa as our smartphone shipments increased 191.0% year-over-year.</p><p>We continued to strengthen our channel capabilities in overseas markets. In the first quarter of 2021, we sold more than 5.0 million smartphones each via online channels and carrier channels in overseas markets, excluding India, representing year-over-year increases of over 100% and 310%, respectively. According to Canalys, our smartphone market share in Western Europe carrier channels increased to 11.3% in the first quarter of 2021 from 7.4% in the fourth quarter of 2020. As of March 31, 2021, we have established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.</p><p><b>6. Core strategy updates </b></p><p><b>Smartphone×AIoT </b></p><p>“Smartphone × AIoT” remains at the core of our strategy as we continue to enhance our smart ecosystem. As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%. In March 2021, our AI Assistant (“小愛同學”) had 93.0 million MAU, and the MAU of our Mi Home App reached 49.2 million, representing a year-over-year increase of 22.8%. </p><p>Investment in Technology Our relentless pursuit of cutting-edge technology and innovation forms the bedrock of our development and growth. In the first quarter of 2021, we recorded RMB3.0 billion in research and development expenses, representing a year-over-year increase of 61.0%. </p><p>In the first quarter of 2021, we debuted our first self-developed Image Signal Processor Surge C1 on Mi MIX FOLD. Surge C1 enables more accurate auto focus, auto exposure and auto white balance, boasting another remarkable achievement in our imaging technology. Mi MIX FOLD also features the first liquid lens in a smartphone, replacing the traditional optical lens with a transparent fluid wrapped in film, and allowing telephoto as well as shooting with micro details. Moreover, we debuted the Mi 11 Ultra with an innovative battery technology featuring silicon-oxygen anode battery and new three-phase cooling technology, which rapidly dissipates heat through three substance state changes among solids, liquids and gases, and enables elevated endurance, super-fast charging capabilities and more solid product performance. These innovations are testaments to our continuous efforts to explore and push the boundaries of technological innovations. </p><p>Moving forward, we will remain committed to ramping up R&amp;D investments and recruiting global technological talents to relentlessly pursue innovations in core technologies as well as smart manufacturing. </p><p><b>New Brand Identity</b></p><p>In March 2021, we unveiled our upgraded brand identity including our new logo, setting forth on our new journey with a refreshed image as we embrace the next decade. Going forward, we will further strengthen our brand promotion efforts and elevate brand awareness across the globe. </p><p><b>Commencement of Smart EV Business </b></p><p>On March 30, 2021, we announced our plan to establish a wholly-owned subsidiary to manage our smart electric vehicle (“Smart EV”) business. The initial phase of investment will be RMB10 billion, with the total investment amount over the course of the next 10 years estimated to be USD10 billion. Mr. Lei Jun, the Chief Executive Officer of the Group, will concurrently serve as the Chief Executive Officer of the smart electric vehicle business. </p><p>We hope to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere. Our broad user base, extensive experience in integrating software and hardware, our substantial investment in key technologies and resources across the value chain position us well to become a successful player in the Smart EV space. </p><p><b>Investments </b></p><p>As of March 31, 2021, we had invested in more than 320 companies with an aggregate book value of RMB51.9 billion, an increase of 60.8% year-over-year. As of March 31, 2021, the total amount of our investments (including (i) fair value of our stakes in listed investee companies accounted for using the equity method based on the stock price on March 31, 2021 (ii) book value of our stakes in unlisted investee companies accounted for using the equity method and (iii) book value of long-term investments measured at fair value through profit or loss) reached RMB69.7 billion. In the first quarter of 2021, we generated net gains (after tax) of RMB0.4 billion on disposal of investments.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"01810":"小米集团-W","XIACY":"小米集团ADR"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124807870","content_text":"Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business reached 12.9%, and the global shipment of smart phones reached 49.4 million.KEY HIGHLIGHTS1. Overall Performance In the first quarter of 2021, the total revenue amounted to RMB 76.9 billion, representing an increase of 54.7% year-over-year; adjusted net profit for the period was RMB6.1 billion, an increase of 163.8% year-over-year. Notably, both the total revenue and adjusted net profit reached record highs in the quarter, demonstrating the robustness of our business model and the strong execution of our strategies.Our core strategy of “Smartphone × AIoT” continued to underpin the outstanding performance.In the first quarter of 2021,the global smartphone shipments increased by 69.1% year-overyear to 49.4 million units. According to Canalys, Xiaomi maintained a top 3 position in the global smartphone market this quarter, with a market share of 14.1% in terms of shipments. The strong growth of smartphone shipments drove the continued expansion of our global user base.In March 2021, the global monthly active users (“MAU”) of MIUI reached 425.3 million, an increase of 28.6% year-over-year. At the same time, our AIoT platform continued scaling up, with the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reaching 351.1 million as of March 31, 2021. In March 2021, the MAU of our AI assistant “小愛同學” reached 93.0 million.Our smartphone business maintained significant growth in mainland China. According to Canalys, our smartphone shipments in mainland China market grew 74.6% year-over-year, with market share ranking 4th in the first quarter of 2021. Additionally, our internet user base continued to grow. In March 2021, the MAU of MIUI in mainland China reached 118.6 million, representing an increase of 7.7 million, or 6.9%, from December 2020.We continue to enrich our product portfolio to further promote our competitiveness in the premium smartphone market. Notably, our three premium smartphones Mi MIX FOLD, Mi 11 Ultra and Mi 11 Pro all delivered remarkable sales performance immediately following their release in March 2021. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 4 million units.Meanwhile, as we further expanded our overseas business, our revenue from overseas markets amounted to RMB37.4 billion in the first quarter of 2021, representing a year-over-year increase of 50.6%. According to Canalys, in terms of smartphone shipments, our market share ranked among the top 5 smartphone companies in 62 countries and regions globally in the first quarter of 2021. Additionally, we ranked No. 2 in Europe for the first time, and rose to the 3rd position in Latin America in market share.Besides delivering solid growth in our existing businesses, we continue to explore new opportunities and broaden our business boundaries. In March 2021, we unveiled our new brand identity, and also announced our official foray into the smart electric vehicle business, setting course on an exciting journey for the next decade.2. Smartphones In the first quarter of 2021, our smartphone business continued to grow significantly.Smartphone revenue amounted to RMB51.5 billion in the quarter, representing an increase of 69.8% year-over-year. The gross profit margin of our smartphone business was 12.9% in this quarter, and our global smartphone shipments reached 49.4 million units. According to Canalys, we maintained our 3rd position globally in terms of smartphone shipments in the quarter, with a market share of 14.1%.Our smartphone business in mainland China maintained rapid growth. According to Canalys, in the first quarter of 2021, we rose to the 4th position with a market share of 14.6%. We further strengthened our market position in online channels. According to third-party data, our online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020. Meanwhile, we also expanded our offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.We continued to execute our dual-brand strategy. During the quarter, we unveiled a series of new products under the Xiaomi brand, including Mi 10S, Mi 11 Lite, Mi 11 Pro, Mi 11 Ultra and Mi MIX FOLD. In particular, with prices starting from RMB9,999, our ultra-premium flagship product Mi MIX FOLD comes equipped with 2K+ foldable display, which offers a remarkable large-screen interactive experience in imaging, reading, video, gaming, etc. It is equipped with Xiaomi’s first self-developed Surge C1 Image Signal Processor optimized for professional photography. It is also the world’s first smartphone to feature a liquid lens. Also,Mi 11 Ultra, with prices starting from RMB5,999, debuted the 50MP GN2 sensor. It comes equipped with the 120x digital zoom periscope lens, and an ultra-wide angle camera capable of capturing a stunningly wide 128° field of view. With these features, Mi 11 Ultra achieved a DXOMARK score of 143 for overall camera performance, ranking 1st globally at the time of launch. Additionally, with diversified designs and functions, Mi 11 Pro and Mi 11 Lite cater to a wide range of demands from various customers. From January 1 to April 30, 2021, total orders of Mi 11, Mi 11 Pro and Mi 11 Ultra exceeded 3 million units, and the sales of our Mi 11 series ranked No. 1 among Android smartphones with prices between RMB4,000 and RMB6,000 in mainland China, according to third-party data.We also offered new positioning and expanded product choices of our Redmi brand. In February 2021, we unveiled Redmi K40, Redmi K40 Pro and Redmi K40 Pro+, which were well received by the market. In April 2021, we unveiled Redmi K40 Gaming Edition with prices starting from RMB1,999. Equipped with the MediaTek Dimensity 1200 processor, Redmi K40 Gaming Edition offers superb gaming performance. Featuring unparalleled heat dissipation, fast charging capabilities, physical pop-up gaming triggers and an ultra-thin body design, it delivers an exceptional gaming experience to the mass market.Our enriched premium product portfolio underpinned our robust growth in the premium smartphone market. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300 or equivalent in overseas markets exceeded 4 million units. In addition, according to third-party data, our market share for smartphones with prices between RMB4,000 and RMB6,000 in mainland China increased to 16.1% in the first quarter of 2021 from 5.5% in the first quarter of 2020.3. IoT and lifestyle products In the first quarter of 2021, IoT and lifestyle products segment witnessed strong performance, with revenue increasing 40.5% year-over-year to RMB18.2 billion.In the first quarter of 2021, global shipments of our smart TVs reached 2.6 million units. According to All View Cloud (“AVC”), our TV shipments ranked No. 1 in mainland China for the 9th consecutive quarter, and remained top five globally. In addition, our large-screen smart TVs continued to gain widespread popularity in the market. According to AVC, Xiaomi and Redmi TVs continued to rank No. 1 by retail sales volume in the over 70-inch TV market in mainland China, with a market share of 29.0%, as retail sales volume increased over 160.0% year-over-year. In February 2021, we introduced Redmi MAX 86” super-size TV, which was well received by the market.During the quarter, we introduced a number of new products with innovative features in our key IoT product categories. We unveiled Mi Smart AC with Ventilation, which takes clean fresh air from the outside to effectively lower indoor carbon-dioxide levels and brings a healthy and comfortable experience to our users, furthering the adoption of a new generation of smart air conditioners with ventilation. Meanwhile, we also unveiled Mi Laptop Pro 15”, featuring a wide color gamut OLED display with 1.07 billion colors to deliver an extraordinary visual experience to our users. Furthermore, we introduced Mi Router AX9000 with price at RMB999.Its top speed of 9,000 Mbps based on three frequency bands and excellent signal coverage support e-sport-level user experiences.We are leveraging our smartphone research and development capabilities to enhance our wearables business, strengthening the synergies between the two businesses. In the first quarter of 2021, revenue from our smart watch segment increased over 300.0% year-overyear. Additionally, we introduced our new generation smart wristband Mi Smart Band 6 in the quarter, with a full screen display while further optimizing our health and fitness algorithm.In mainland China, we maintained our top 3 position in market share across a wide array of smart home product categories. According to “IDC PRC Quarterly Smart Home Device Tracker, 2020Q4,” we ranked No. 1 in air purifiers and smart door locks, and No. 2 in robot vacuum cleaners.Our IoT and lifestyle product segment also continued on its rapid growth trajectory in overseas markets. Revenue from our IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. Our electric scooters, air purifiers, Mi Box and other products maintained their widespread popularity.4. Internet services Our internet services segment continued its solid growth as revenue grew 11.4% year-over-year to RMB6.6 billion in the first quarter of 2021. The gross profit margin of our internet services segment reached 72.4% in the quarter.Our global internet user base continued to expand rapidly. In March 2021, the MAU of MIUI increased by 28.6% year-over-year to 425.3 million, while the MAU of MIUI in mainland China rose to 118.6 million, representing a year-over-year increase of 6.4% and a net gain of 7.7 million users from December 2020.In the first quarter of 2021, our advertising revenue reached another quarterly record high of RMB3.9 billion, representing an increase of 46.3% year-over-year. Driven by the expansion of our global user base and the robust growth of premium smartphone users, our advertising revenue, including pre-installation and search services, continued to advance.Our gaming revenue in the first quarter of 2021 increased by 24.8% quarter-over-quarter to RMB1.1 billion. We focused on deepening partnerships with high-quality content providers, while growth in our premium smartphone user base also continued to boost average gaming revenue per user.During the quarter, revenue from other value-added services decreased by 8.6% year-over-year to RMB1.6 billion, primarily because our fintech business further strengthened risk controls and proactively managed the balance of outstanding loans.As we broaden our TV internet service offerings and reached a larger user base, MAU of our smart TVs and Mi Box increased over 34.0% year-over-year in the quarter. Meanwhile, the number of our TV paid subscribers increased 8.2% year-over-year to 4.7 million as of March 31, 2021.In the first quarter of 2021, overseas internet services revenue increased 50.0% year-over-year to RMB0.9 billion, accounting for 13.8% of total internet services revenue. Our internet user base continued to expand in key overseas markets, with MAU of MIUI increasing 95.5% yearover-year in Western Europe. Going forward, we will further diversify our overseas internet service offerings and enhance user experience while driving growth in our overseas internet services business.5. Overseas markets In 2021, we have kept up our strong momentum in major markets around the world. In the first quarter, our revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, our market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally, and No. 1 in 12 countries and regions.We further improved our competitive positioning in key markets. According to Canalys, in the first quarter of 2021, we ranked top 2 for the first time in Europe with an 85.1% yearover-year increase in smartphone shipments and a market share of 22.7%. Notably, we ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as our smartphone shipments increased 81.8% year-over-year to reach 32.5% market share. We also ranked No. 1 for the first time in Russia with a market share of 32.1%. We retained top 3 position in Western Europe as our market share further rose to 16.6% with an 89.3% year-over-year increase in smartphone shipments. We ranked No. 1 in Spain for the 5th consecutive quarter, with 35.1% market share.Additionally, our market position rose to No. 2 in Italy, retained the No. 3 spot in Germany and France and entered the top 5 in the U.K. for the first time, all with growth rate in shipments exceeding 90% year-over-year. Moreover, we ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments, with a market share of 28.3%.We continued our strong growth momentum in new markets. According to Canalys, our position in Latin America rose to No. 3 as our smartphone shipments increased 161.7% yearover-year to reach 11.5% market share. In particular, we climbed to the No. 2 spot in Mexico with 16.7% market share and a 137.1% year-over-year growth in smartphone shipments.Additionally, we ranked No. 3 in the Middle East as our smartphone shipments increased 87.8% year-over-year. Meanwhile, we attained the No. 4 spot in Africa as our smartphone shipments increased 191.0% year-over-year.We continued to strengthen our channel capabilities in overseas markets. In the first quarter of 2021, we sold more than 5.0 million smartphones each via online channels and carrier channels in overseas markets, excluding India, representing year-over-year increases of over 100% and 310%, respectively. According to Canalys, our smartphone market share in Western Europe carrier channels increased to 11.3% in the first quarter of 2021 from 7.4% in the fourth quarter of 2020. As of March 31, 2021, we have established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.6. Core strategy updates Smartphone×AIoT “Smartphone × AIoT” remains at the core of our strategy as we continue to enhance our smart ecosystem. As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%. In March 2021, our AI Assistant (“小愛同學”) had 93.0 million MAU, and the MAU of our Mi Home App reached 49.2 million, representing a year-over-year increase of 22.8%. Investment in Technology Our relentless pursuit of cutting-edge technology and innovation forms the bedrock of our development and growth. In the first quarter of 2021, we recorded RMB3.0 billion in research and development expenses, representing a year-over-year increase of 61.0%. In the first quarter of 2021, we debuted our first self-developed Image Signal Processor Surge C1 on Mi MIX FOLD. Surge C1 enables more accurate auto focus, auto exposure and auto white balance, boasting another remarkable achievement in our imaging technology. Mi MIX FOLD also features the first liquid lens in a smartphone, replacing the traditional optical lens with a transparent fluid wrapped in film, and allowing telephoto as well as shooting with micro details. Moreover, we debuted the Mi 11 Ultra with an innovative battery technology featuring silicon-oxygen anode battery and new three-phase cooling technology, which rapidly dissipates heat through three substance state changes among solids, liquids and gases, and enables elevated endurance, super-fast charging capabilities and more solid product performance. These innovations are testaments to our continuous efforts to explore and push the boundaries of technological innovations. Moving forward, we will remain committed to ramping up R&D investments and recruiting global technological talents to relentlessly pursue innovations in core technologies as well as smart manufacturing. New Brand IdentityIn March 2021, we unveiled our upgraded brand identity including our new logo, setting forth on our new journey with a refreshed image as we embrace the next decade. Going forward, we will further strengthen our brand promotion efforts and elevate brand awareness across the globe. Commencement of Smart EV Business On March 30, 2021, we announced our plan to establish a wholly-owned subsidiary to manage our smart electric vehicle (“Smart EV”) business. The initial phase of investment will be RMB10 billion, with the total investment amount over the course of the next 10 years estimated to be USD10 billion. Mr. Lei Jun, the Chief Executive Officer of the Group, will concurrently serve as the Chief Executive Officer of the smart electric vehicle business. We hope to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere. Our broad user base, extensive experience in integrating software and hardware, our substantial investment in key technologies and resources across the value chain position us well to become a successful player in the Smart EV space. Investments As of March 31, 2021, we had invested in more than 320 companies with an aggregate book value of RMB51.9 billion, an increase of 60.8% year-over-year. As of March 31, 2021, the total amount of our investments (including (i) fair value of our stakes in listed investee companies accounted for using the equity method based on the stock price on March 31, 2021 (ii) book value of our stakes in unlisted investee companies accounted for using the equity method and (iii) book value of long-term investments measured at fair value through profit or loss) reached RMB69.7 billion. In the first quarter of 2021, we generated net gains (after tax) of RMB0.4 billion on disposal of investments.","news_type":1,"symbols_score_info":{"01810":0.9,"XIACY":0.9}},"isVote":1,"tweetType":1,"viewCount":822,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}