Jun Yee personal page - To The Moon

Jun Yee

Jun Yee

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2021-07-02

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2021-06-07

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2021-06-05

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2021-08-23

noted

The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.

2021-08-23

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The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.

2021-06-26

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With its dual major IPO approved, can XPeng achieve a win-win situation for both capital and the market?

2021-06-05

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2021-06-05

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Microsoft's $16 billion acquisition of Nuance has been granted U.S. antitrust permission

2021-06-30

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2021-06-29

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Netflix's Next Step: Becoming Disney?

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Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835014599","repostId":"2161574009","repostType":4,"repost":{"id":"2161574009","kind":"highlight","pubTimestamp":1629678660,"share":"https://ttm.financial/m/news/2161574009?lang=en_US&edition=fundamental","pubTime":"2021-08-23 08:31","market":"hk","language":"zh","title":"With international commodities collectively plummeting, can cyclical stocks still be held back?","url":"https://stock-news.laohu8.com/highlight/detail?id=2161574009","media":"上海证券报","summary":"8月的第三周，作为经济景气度风向标的大宗商品均大幅下跌。衡量一揽子大宗商品价格的路透CRB商品指数周跌幅超4%。　　从国内来看，保供稳价政策调控仍在持续进行，大宗商品价格仍有持续降温的可能性。　　受益于大宗商品牛市，今年以来，A股周期性板块站在了领涨的前排。　　随着大宗商品走势愈发不明朗，机构对下半年周期股走势存在分歧。需求方面，由于全球疫情的持续性仍不明朗，长期来看，对大宗商品的需求增长持谨慎态度。","content":"<p><div>In the third week of August, commodities, which are indicators of economic prosperity, all fell sharply. As of the close of trading on August 20 local time, NYMEX crude oil fell 9.61% for the week, while LME copper fell more than 5.4% for the week. The Reuters CRB commodity index, which measures a basket of commodity prices, fell more than 4% for the week. In terms of news, poor economic data from various countries, coupled with the lack of signs of improvement in overseas epidemic prevention and control, have raised market expectations for a global economic slowdown. Data released by the U.S. Department of Commerce on August 17 showed that pandemic concerns dampened economic activity, the effects of fiscal stimulus gradually weakened, and U.S. retail sales in July...</p><p><a href=\"http://finance.eastmoney.com/a/202108232058112943_0.html\">Web page link</a></div></p>","source":"eastmoney_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>With international commodities collectively plummeting, can cyclical stocks still be held back?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWith international commodities collectively plummeting, can cyclical stocks still be held back?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">上海证券报</strong><span class=\"h-time small\">2021-08-23 08:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>In the third week of August, commodities, which are indicators of economic prosperity, all fell sharply. As of the close of trading on August 20 local time, NYMEX crude oil fell 9.61% for the week, while LME copper fell more than 5.4% for the week. The Reuters CRB commodity index, which measures a basket of commodity prices, fell more than 4% for the week. In terms of news, poor economic data from various countries, coupled with the lack of signs of improvement in overseas epidemic prevention and control, have raised market expectations for a global economic slowdown. Data released by the U.S. Department of Commerce on August 17 showed that pandemic concerns dampened economic activity, the effects of fiscal stimulus gradually weakened, and U.S. retail sales in July...</p><p><a href=\"http://finance.eastmoney.com/a/202108232058112943_0.html\">Web page link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.eastmoney.com/a/202108232058112943_0.html\">上海证券报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8d066887061d8f7edb4bf082e7c85da3","relate_stocks":{"161715":"大宗商品","000979.SH":"大宗商品"},"source_url":"http://finance.eastmoney.com/a/202108232058112943_0.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161574009","content_text":"8月的第三周，作为经济景气度风向标的大宗商品均大幅下跌。截至当地时间8月20日收盘，NYMEX原油周跌幅达到9.61%，LME铜周跌幅超过5.4%。衡量一揽子大宗商品价格的路透CRB商品指数周跌幅超4%。\n消息面上，各国经济数据不佳，加上海外疫情防控仍未有好转迹象，市场对于全球经济放缓的预期升温。\n美国商务部8月17日公布的数据显示，疫情担忧抑制了经济活动，财政刺激效果逐渐减弱，7月美国零售销售额环比下降1.1%，降幅超过市场普遍预期。个人消费支出占美国经济总量约70%，该数据作为衡量整体经济健康状况的指标受到市场密切关注。\n与此同时，美联储还释放了放慢购债步伐的信号。北京时间8月19日凌晨发布的上月政策会议记录显示，多数与会决策者认为，若经济复苏符合预期，今年开始放慢购债步伐可能是适合的。\n但美联储决策层对于货币政策方向存在着一些分歧。部分官员认为，疫情持续发酵并可能抑制经济增长，通胀可能会重新陷入下行趋势，他们恐怕会改变对货币政策的立场。\n国信期货研究咨询部主管顾冯达对上海证券报记者表示，考虑到美联储会议纪要公布具有滞后性，在7月会议之后，全球主要地区不少经济数据显示经济复苏进展并不乐观，因而美联储未必会在9月宣布缩减购债。此次市场调整应该是阶段性调整，而非全面系统性风险。\n顾冯达表示，预计下半年资产价格全面牛市难以持续，而商品走势将分化。其中，有色金属中与新能源相关的材料将呈现不同于其他品种的强势供需结构，尤其是铜铝镍钴锂等品种，它们的供应增量有限、需求潜力向好、国内外库存极低，其成长性和资源稀缺性较强。\n从国内来看，保供稳价政策调控仍在持续进行，大宗商品价格仍有持续降温的可能性。\n国家粮食和物资储备局物储司负责人8月19日表示，按照国务院常务会议关于做好大宗商品保供稳价工作部署，7月5日、29日分两批次投放国家储备铜铝锌共计27万吨，社会各界反应良好。目前，铜铝锌等价格仍处于高位，部分下游中小企业生产经营仍较困难。下一步，还将继续投放国家储备铜铝锌，持续做好大宗商品的保供稳价工作。\n受益于大宗商品牛市，今年以来，A股周期性板块站在了领涨的前排。据万得统计，截至8月20日收盘，钢铁、有色金属、采掘近120个交易日的累计涨幅分别为37%、30%、26%，位列28个行业的板块的第一、第三、第四。\n随着大宗商品走势愈发不明朗，机构对下半年周期股走势存在分歧。\n长江证券认为，三季度周期股的最大动力来自于供需格局偏紧，同2017年相仿，本轮经济受“双碳”因素影响，供给端存在刚性约束。多数周期品库存处于低位。而上半年经济景气度较好，需求端仍有发力，商品价格难以迅速回落。\n华安证券认为，当前周期股经过前期普涨，大宗商品和股价共振上涨的最快速阶段已过，未来更聚焦两类结构性机会：一是高景气度板块，如煤炭和化工；二是产业升级带来的机会，如高端制造业、新能源车带动的传统加工企业，以及新兴产业带来能源金属机会。\n中金公司认为，许多大宗商品的供应并非产能瓶颈问题，而是产能释放的问题。需求方面，由于全球疫情的持续性仍不明朗，长期来看，对大宗商品的需求增长持谨慎态度。预计下半年原油供应将填补缺口，油价将在三季度见顶、四季度回落。黑色金属方面，预计下半年钢材市场维持供需两弱的格局。而有色金属相对抗跌，其供应仍存瓶颈，而需求增长显著受益于新能源、风电、光伏等领域。","news_type":1,"symbols_score_info":{"161715":0.9,"000979.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":3248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835018733,"gmtCreate":1629680844722,"gmtModify":1676530094809,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835018733","repostId":"2161740015","repostType":4,"repost":{"id":"2161740015","kind":"highlight","pubTimestamp":1629679840,"share":"https://ttm.financial/m/news/2161740015?lang=en_US&edition=fundamental","pubTime":"2021-08-23 08:50","market":"sh","language":"zh","title":"The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.","url":"https://stock-news.laohu8.com/highlight/detail?id=2161740015","media":"经济参考报","summary":"8月LPR报价与7月持平，这也是自去年5月以来，LPR连续16个月保持不变。不过，业内人士表示，贷款实际利率还有进一步下行空间。中国民生银行首席研究员温彬表示，LPR报价由MLF利率和银行点差两部分构成。展望未来，尽管本月LPR报价未发生调整，但多数业内人士表示，贷款实际利率还有进一步下行空间，实体经济融资成本将稳中有降。王青判断企业贷款利率还有进一步下行空间。","content":"<p><div>The People's Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) on August 20, 2021 was as follows: the 1-year LPR was 3.85%, and the 5-year LPR was 4.65%. The LPR quoted in August was the same as in July, marking the 16th consecutive month that the LPR has remained unchanged since May of last year. However, industry insiders say that there is still room for further decline in actual loan interest rates. Wen Bin, chief researcher at China Minsheng Bank, said that the LPR quote consists of two parts: the MLF rate and the bank spread. On August 16th of this year, the People's Bank of China reduced the amount of MLF (Medium-term Lending Facility) to renew its maturing</p><p><a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">Web page link</a></div></p>","source":"highlight_huanqiu","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">经济参考报</strong><span class=\"h-time small\">2021-08-23 08:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>The People's Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) on August 20, 2021 was as follows: the 1-year LPR was 3.85%, and the 5-year LPR was 4.65%. The LPR quoted in August was the same as in July, marking the 16th consecutive month that the LPR has remained unchanged since May of last year. However, industry insiders say that there is still room for further decline in actual loan interest rates. Wen Bin, chief researcher at China Minsheng Bank, said that the LPR quote consists of two parts: the MLF rate and the bank spread. On August 16th of this year, the People's Bank of China reduced the amount of MLF (Medium-term Lending Facility) to renew its maturing</p><p><a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">Web page link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">经济参考报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f0a9ed39cda4effa668effe35572e5c","relate_stocks":{},"source_url":"https://finance.huanqiu.com/article/44T2SXSJSdW","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161740015","content_text":"中国人民银行授权全国银行间同业拆借中心公布，2021年8月20日贷款市场报价利率（LPR）为：1年期LPR为3.85%，5年期以上LPR为4.65%。8月LPR报价与7月持平，这也是自去年5月以来，LPR连续16个月保持不变。不过，业内人士表示，贷款实际利率还有进一步下行空间。\n中国民生银行首席研究员温彬表示，LPR报价由MLF利率和银行点差两部分构成。今年8月16日，央行缩量续做到期的MLF（中期借贷便利），利率维持在2.95%的水平，预示着LPR大概率保持不变。另外，虽然7月15日降准释放长期资金，有利于降低银行负债成本，但银行负债整体压力仍然较大，尚不足以驱动银行点差部分压降。\n“全面降准对降低银行负债端资金成本有一定作用，但截至目前，其下降幅度尚不足以促使报价行下调LPR报价0.05个百分点（0.05个百分点为LPR报价最小调整步长）。这是7月15日全面降准落地后，LPR报价连续两个月维持原有水平的一个直接原因。”东方金诚首席宏观分析师王青说。\n展望未来，尽管本月LPR报价未发生调整，但多数业内人士表示，贷款实际利率还有进一步下行空间，实体经济融资成本将稳中有降。\n光大证券固定收益首席分析师张旭表示，前期一系列压降银行负债成本的政策给降低贷款实际利率提供了空间。“比如，存款利率自律上限确定方式改为在存款基准利率上加点确定，并于6月21日正式实施；结构性存款规模持续压降，全国性银行6月末余额为6.04万亿元，已较去年同期大幅压降44.2%等。”他说。\n王青判断企业贷款利率还有进一步下行空间。他说，降准效应下，近期包括DR007、10年期国债收益率、1年期商业银行（AAA级）同业存单到期收益率等关键市场利率出现不同幅度下行，在前期监管层着力打破利率双轨制的背景下，三季度企业贷款利率也会在一定程度上随之下行，政策红利会进一步向企业融资成本传导。\n温彬表示，下一阶段，要做好宏观政策的跨周期调节，积极的财政政策将持续发力，财政支出进度加快，有助于改善市场流动性。货币政策将在稳健基础上，通过多种货币政策工具组合保持流动性合理充裕，预计政策利率短期内保持稳定，将继续释放LPR改革潜力，降低银行负债成本，引导金融机构降低实际贷款利率，促进实体经济融资成本稳中有降。","news_type":1,"symbols_score_info":{"ZBmain":0.9,"UBmain":0.9,"TNmain":0.9,"ZNmain":0.9,"ZTmain":0.9,"ZFmain":0.9}},"isVote":1,"tweetType":1,"viewCount":5117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835011359,"gmtCreate":1629680818171,"gmtModify":1676530094778,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835011359","repostId":"2161740015","repostType":4,"repost":{"id":"2161740015","kind":"highlight","pubTimestamp":1629679840,"share":"https://ttm.financial/m/news/2161740015?lang=en_US&edition=fundamental","pubTime":"2021-08-23 08:50","market":"sh","language":"zh","title":"The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.","url":"https://stock-news.laohu8.com/highlight/detail?id=2161740015","media":"经济参考报","summary":"8月LPR报价与7月持平，这也是自去年5月以来，LPR连续16个月保持不变。不过，业内人士表示，贷款实际利率还有进一步下行空间。中国民生银行首席研究员温彬表示，LPR报价由MLF利率和银行点差两部分构成。展望未来，尽管本月LPR报价未发生调整，但多数业内人士表示，贷款实际利率还有进一步下行空间，实体经济融资成本将稳中有降。王青判断企业贷款利率还有进一步下行空间。","content":"<p><div>The People's Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) on August 20, 2021 was as follows: the 1-year LPR was 3.85%, and the 5-year LPR was 4.65%. The LPR quoted in August was the same as in July, marking the 16th consecutive month that the LPR has remained unchanged since May of last year. However, industry insiders say that there is still room for further decline in actual loan interest rates. Wen Bin, chief researcher at China Minsheng Bank, said that the LPR quote consists of two parts: the MLF rate and the bank spread. On August 16th of this year, the People's Bank of China reduced the amount of MLF (Medium-term Lending Facility) to renew its maturing</p><p><a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">Web page link</a></div></p>","source":"highlight_huanqiu","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">经济参考报</strong><span class=\"h-time small\">2021-08-23 08:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>The People's Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) on August 20, 2021 was as follows: the 1-year LPR was 3.85%, and the 5-year LPR was 4.65%. The LPR quoted in August was the same as in July, marking the 16th consecutive month that the LPR has remained unchanged since May of last year. However, industry insiders say that there is still room for further decline in actual loan interest rates. Wen Bin, chief researcher at China Minsheng Bank, said that the LPR quote consists of two parts: the MLF rate and the bank spread. On August 16th of this year, the People's Bank of China reduced the amount of MLF (Medium-term Lending Facility) to renew its maturing</p><p><a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">Web page link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">经济参考报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f0a9ed39cda4effa668effe35572e5c","relate_stocks":{},"source_url":"https://finance.huanqiu.com/article/44T2SXSJSdW","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161740015","content_text":"中国人民银行授权全国银行间同业拆借中心公布，2021年8月20日贷款市场报价利率（LPR）为：1年期LPR为3.85%，5年期以上LPR为4.65%。8月LPR报价与7月持平，这也是自去年5月以来，LPR连续16个月保持不变。不过，业内人士表示，贷款实际利率还有进一步下行空间。\n中国民生银行首席研究员温彬表示，LPR报价由MLF利率和银行点差两部分构成。今年8月16日，央行缩量续做到期的MLF（中期借贷便利），利率维持在2.95%的水平，预示着LPR大概率保持不变。另外，虽然7月15日降准释放长期资金，有利于降低银行负债成本，但银行负债整体压力仍然较大，尚不足以驱动银行点差部分压降。\n“全面降准对降低银行负债端资金成本有一定作用，但截至目前，其下降幅度尚不足以促使报价行下调LPR报价0.05个百分点（0.05个百分点为LPR报价最小调整步长）。这是7月15日全面降准落地后，LPR报价连续两个月维持原有水平的一个直接原因。”东方金诚首席宏观分析师王青说。\n展望未来，尽管本月LPR报价未发生调整，但多数业内人士表示，贷款实际利率还有进一步下行空间，实体经济融资成本将稳中有降。\n光大证券固定收益首席分析师张旭表示，前期一系列压降银行负债成本的政策给降低贷款实际利率提供了空间。“比如，存款利率自律上限确定方式改为在存款基准利率上加点确定，并于6月21日正式实施；结构性存款规模持续压降，全国性银行6月末余额为6.04万亿元，已较去年同期大幅压降44.2%等。”他说。\n王青判断企业贷款利率还有进一步下行空间。他说，降准效应下，近期包括DR007、10年期国债收益率、1年期商业银行（AAA级）同业存单到期收益率等关键市场利率出现不同幅度下行，在前期监管层着力打破利率双轨制的背景下，三季度企业贷款利率也会在一定程度上随之下行，政策红利会进一步向企业融资成本传导。\n温彬表示，下一阶段，要做好宏观政策的跨周期调节，积极的财政政策将持续发力，财政支出进度加快，有助于改善市场流动性。货币政策将在稳健基础上，通过多种货币政策工具组合保持流动性合理充裕，预计政策利率短期内保持稳定，将继续释放LPR改革潜力，降低银行负债成本，引导金融机构降低实际贷款利率，促进实体经济融资成本稳中有降。","news_type":1,"symbols_score_info":{"ZBmain":0.9,"UBmain":0.9,"TNmain":0.9,"ZNmain":0.9,"ZTmain":0.9,"ZFmain":0.9}},"isVote":1,"tweetType":1,"viewCount":5319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156010626,"gmtCreate":1625185688866,"gmtModify":1703737829406,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156010626","repostId":"2148225838","repostType":4,"isVote":1,"tweetType":1,"viewCount":3984,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151034389,"gmtCreate":1625056864541,"gmtModify":1703734989575,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/151034389","repostId":"1124821132","repostType":4,"isVote":1,"tweetType":1,"viewCount":3724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159837189,"gmtCreate":1624954929741,"gmtModify":1703848748063,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159837189","repostId":"1138372330","repostType":4,"repost":{"id":"1138372330","kind":"news","pubTimestamp":1624953281,"share":"https://ttm.financial/m/news/1138372330?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:54","market":"us","language":"zh","title":"Netflix's Next Step: Becoming Disney?","url":"https://stock-news.laohu8.com/highlight/detail?id=1138372330","media":"极客公园","summary":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix ","content":"<p>Faced with a major counterattack by film and television giants, Netflix has already started to make money, but this is far from enough.</p><p>Netflix Start Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>That's it.</p><p>Just as iYoo and Tencent were still competing with the short video industry, the already profitable Netflix launched Netflix Shop, entering the e-commerce field for the first time.</p><p>The Netflix Shop currently has a limited number of items available, only 18. Among them are as high as $135.<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, $30 T-shirts, but mostly clothing priced between $30 and $80. In the future, Netflix will also launch series of products such as \"Stranger Things\" and \"Witcher\".</p><p><b>What these products have in common is that they are all peripheral products of Netflix's IP.</b></p><p>This inevitably brings to mind Disney, a top player in the IP licensing market. According to data from the International Licensing Industry Association (LIMA), global sales of licensed merchandise reached $292.8 billion in 2019. Disney, ranked first, accounted for $54.7 billion, a figure twice Netflix's total revenue in 2020.</p><p>Clearly, Netflix is targeting the IP licensing pie. Behind this lies Netflix's hidden concerns and ambitions.</p><p><b>Netflix's hidden concerns</b></p><p>2020 was almost the best year since Netflix was born. Due to the pandemic and people staying at home, many people have shifted their entertainment activities online. As a result, Netflix gained 37 million paying subscribers, breaking the company's growth record, and the total number of paying subscribers also historically exceeded 200 million. Correspondingly, full-year profits increased by 76%.</p><p>This company, which was founded in the DVD rental business, timely shifted to the streaming business at the end of the golden age of television. Since then, it has achieved double-digit growth in paying users every year.</p><p><b>As a company with a market capitalization of $230 billion, Netflix's business model is extremely simple—producing high-quality content to attract consumers to pay for subscriptions.</b>In 2019, 98.52% of Netflix's revenue came from membership fees. By analogy with domestic long-form video platforms<a href=\"https://laohu8.com/S/IQ\">iQiyi</a>Membership fees account for only about 50% of its total revenue, with the rest mainly coming from online advertising and content distribution. It can be said that Netflix's revenue growth depends entirely on the growth of its users.<b>The other side of this statement is that if paying users cannot continue to grow, Netflix's business model will face a crisis.</b></p><p>Netflix, a pioneer of streaming platforms and with the largest user base, may have hit its user ceiling sooner. Streaming platforms are essentially robbing pay-TV users. Taking the US pay TV market as an example, after reaching a peak of 101 million paid subscribers in 2011, it has been declining year by year. Netflix currently has approximately 67 million users in the United States, meaning that more than half of its potential users have already paid for Netflix. In the first quarter of 2021, Netflix added only 4 million new users, lower than the expected 6 million, and its stock price fell by 11%.</p><p>A poor quarterly performance isn't a serious problem for Netflix; what's truly damaging is that its market share may be being eroded by competitors.</p><p>In response to revenue pressure from slowing user growth, Netflix has raised membership fees five times. The most recent incident occurred in October 2020, when the basic plan remained unchanged at $8.99, while the standard and basic plans increased by $1 and $2 respectively to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for over a decade, HBO NOW ($14.99 ad-free) and HULU ($11.99 ad-free), but it is comparable to Disney.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared to these ambitious new generation entrants, they have little advantage. Disney+ costs just $7.99 a month, and Apple TV+ costs even less at just $4.99.</p><p>The past year has been almost a period of global streaming, with giants Disney, Apple, and Paramount entering the market one after another.</p><p>During the first quarter earnings call, when asked about his views on the current competition, Netflix founder Reed Hastings responded: \"Obviously, new competition is always there. But when we look at past data, the company has been growing because we are also very confident.\"</p><p>The confidence of the founders is one aspect, but the encroachment of Netflix by the giants is also real. In 2020, Netflix's market share of original programming fell from 56% at the beginning of the year to 50%.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global market share of original programs. Data Source Parrot Analytics. Image source:<a href=\"https://laohu8.com/S/NYT\">New York times</a></p><p>Behind this lies the loss of content from Netflix. Due to the launch of Disney+, Netflix removed a series of Disney IP content from its platforms. HBO also regained the copyrights to works such as \"Friends,\" \"The Big Bang Theory,\" and Studio Ghibli. Similarly, the veteran sitcom \"The Office\" has also been reclaimed by NBC.</p><p>Netflix original dramas account for only 30% of the total viewing time of subscribers, with the rest coming from external copyrights. According to data from CBN magazine, the top three longest-running Netflix shows in 2018 were \"The Office,\" \"Friends,\" and \"Grey's Anatomy.\" New content may be key to driving user growth, but existing viewers tend to choose works they are familiar with.</p><p>Netflix, which has been focusing on original content, has withdrawn most of its production plans due to the pandemic. Currently, Netflix does not have any major return series.</p><p>Netflix's model is somewhat like a one-off deal. After watching a series, users no longer have contact with it. Netflix's Stranger Things and House of Cards have a large number of die-hard fans, but a single subscription payment model cannot fully tap into the value of these IPs. This creates a strange phenomenon: on one side are fans holding banknotes and shouting \"Shut up and take my money,\" while on the other side are official fans who remain \"indifferent.\"</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Image source: memegenetator</p><p>Last year, Netflix's original documentary \"Tiger King\" was watched by 34.3 million people within 10 days of its release, making it Netflix's most successful series. A large number of Tiger King merchandise immediately appeared on the e-commerce brand Esty. But without exception, they were all counterfeits.</p><p>A search for \"Tiger King\" on Esty still yields 8195 results. Image source: Esty</p><p>This makes it easy to understand why Netflix launched an online store. On Netflix's official blog, Josh Simon, head of the Netflix Shop and vice president of consumer products, wrote:<b>We like to see good stories go beyond the screen and become a part of people's lives.</b>」「<b>We've been thinking about how to expand our story world for our fans, from costumes and toys to immersive events and games.</b>That's why today we're launching Netflix.shop, an exciting new destination that combines curated products and rich stories into a unique Netflix shopping experience.</p><p>These words are all about one thing:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man went to a hotel and approached Walter Disney, offering $300 to have Mickey Mouse's image printed on his desk. This $300 became Disney's first \"franchise\" revenue. Nearly a century later, that $300 became a $54.7 billion business.</p><p>Flipping through Disney's list of IPs, you'll find it's an almost endless list. In addition to its own original IPs, such as Mickey Mouse, Winnie the Pooh, Disney princesses, and The Lion King, Disney also aggressively acquired Pixar, Marvel, Lucasfilm, and 20th Century Fox in the first 20 years of the 21st century. In other words, apart from Mickey Mouse, all the IPs you are familiar with, such as the Avengers, Star Wars, Avatar, and Toy Story, belong to Disney.</p><p>Family portraits of Disney IP characters. Image source: psu.edu</p><p>According to TitleMax's 2019 data, eight of the world's 20 most profitable IPs originated from Disney, with a cumulative economic value of $355.182 billion. Winnie the Pooh, Mickey Mouse, and Star Wars ranked 3rd, 4th, and 5th respectively. These old IPs, which are over 40 years old or even nearly a century old, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The remaining Disney IPs in the TOP 20 are Disney Princesses at number 7, the Marvel Cinematic Universe at number 11, Spider-Man at number 12, Car Story at number 18, and Toy Story at number 19. Image source: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>Films themselves may not make money, but they must drive the development of related products.</b>。 Walt Disney clearly understood this well. As early as 1957, he drew a sketch that clearly described Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model drawn by Walt Disney. Image source: kottke.org</p><p>In this sketch, film studios are clearly central, with music, television, licensed merchandise, theme parks, and publications all surrounding them. Take magazines, for example. Movies provide articles for magazines, and magazines can promote movies and Disneyland. Each part is closely linked, cooperates with each other, and complements each other.</p><p>To this day, Disney has not deviated from the underlying logic of this model. Disney never views its animated characters as disposable consumer goods, but rather as a gold mine for long-term consumption. When Disney makes a movie, the company doesn't just consider the movie itself, but how to translate the story into goods, services, experiences, and other derivative products. As former Disney CFO Jay Rasulo said, \"Every aspect of the company is brand- and franchise-oriented.\"</p><p>Today, Disney's model is called<b>Round revenue</b>。</p><p>First, Disney will release movies centered on IP stories at high costs to earn its first round of revenue through box office revenue.</p><p>Disney will then sell the film rights to streaming platforms to earn a second round of revenue.</p><p>Meanwhile, with each new movie released, Disney adds corresponding new characters to the theme park, generating a third round of revenue through Disneyland.</p><p>Finally, earn the fourth round of income through franchising, publishing, retail, etc.</p><p>Through these four rounds of revenue generation, Disney has clearly \"squeezed out\" the profits from every IP. These diverse revenue streams give Disney a key advantage over Netflix, further extending the vitality of its IPs.</p><p><b>Build love for stories and turn love into money</b></p><p>Unlike Disney, Netflix has no plans to establish offline stores. Currently, Netflix has partnered with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Retailers such as H&M and Sephora have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online store system with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times, and Kim Kardashian's brand Skims.</p><p>Simon, the project leader at Netflix Shop, spent six years at Disney Studios as the production and development director.</p><p>This information seems to demonstrate Netflix's determination: \"Hey! We're not just playing around, we're serious!\"</p><p>For years, Netflix has avoided whether it is an entertainment or technology company. Just recently, Netflix founder Hastings declared, \"We really are an entertainment company.\"</p><p>According to Matthew Ball, a former Amazon Studio executive,<b>Essentially, an entertainment company does only three things:</b></p><p><ol><li><b>Creating/Telling Stories</b></p><p></li><li><b>Build love for these stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By this standard, Disney is undoubtedly the best company on the planet. Think about it, how many little girls want to wear Elsa's blue dress while visiting Disneyland? How many parents would pay for this?</p><p>Netflix has done a good enough job of storytelling and building love, but can it turn love into money?</p><p>Mark A. Cohen, director of retail research at Columbia Business School, expressed skepticism: \"Most of them (Netflix's hit shows) have a short shelf life, unlike Disney's IP, which is a long journey of a generation.\"</p><p>Despite a great deal of uncertainty, this is undoubtedly Netflix's best financial year yet. The company has borrowed a total of $16 billion over the past 10 years. At the end of last year, Netflix stated in its fourth-quarter earnings report that it no longer needed to seek borrowing to finance the company. In other words, Netflix has become a truly profitable company.</p><p>Meanwhile, its other streaming competitors are still losing money, including Disney.</p>","source":"jkgy","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>Netflix's Next Step: Becoming Disney?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNetflix's Next Step: Becoming Disney?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">极客公园</strong><span class=\"h-time small\">2021-06-29 15:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Faced with a major counterattack by film and television giants, Netflix has already started to make money, but this is far from enough.</p><p>Netflix Start Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>That's it.</p><p>Just as iYoo and Tencent were still competing with the short video industry, the already profitable Netflix launched Netflix Shop, entering the e-commerce field for the first time.</p><p>The Netflix Shop currently has a limited number of items available, only 18. Among them are as high as $135.<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, $30 T-shirts, but mostly clothing priced between $30 and $80. In the future, Netflix will also launch series of products such as \"Stranger Things\" and \"Witcher\".</p><p><b>What these products have in common is that they are all peripheral products of Netflix's IP.</b></p><p>This inevitably brings to mind Disney, a top player in the IP licensing market. According to data from the International Licensing Industry Association (LIMA), global sales of licensed merchandise reached $292.8 billion in 2019. Disney, ranked first, accounted for $54.7 billion, a figure twice Netflix's total revenue in 2020.</p><p>Clearly, Netflix is targeting the IP licensing pie. Behind this lies Netflix's hidden concerns and ambitions.</p><p><b>Netflix's hidden concerns</b></p><p>2020 was almost the best year since Netflix was born. Due to the pandemic and people staying at home, many people have shifted their entertainment activities online. As a result, Netflix gained 37 million paying subscribers, breaking the company's growth record, and the total number of paying subscribers also historically exceeded 200 million. Correspondingly, full-year profits increased by 76%.</p><p>This company, which was founded in the DVD rental business, timely shifted to the streaming business at the end of the golden age of television. Since then, it has achieved double-digit growth in paying users every year.</p><p><b>As a company with a market capitalization of $230 billion, Netflix's business model is extremely simple—producing high-quality content to attract consumers to pay for subscriptions.</b>In 2019, 98.52% of Netflix's revenue came from membership fees. By analogy with domestic long-form video platforms<a href=\"https://laohu8.com/S/IQ\">iQiyi</a>Membership fees account for only about 50% of its total revenue, with the rest mainly coming from online advertising and content distribution. It can be said that Netflix's revenue growth depends entirely on the growth of its users.<b>The other side of this statement is that if paying users cannot continue to grow, Netflix's business model will face a crisis.</b></p><p>Netflix, a pioneer of streaming platforms and with the largest user base, may have hit its user ceiling sooner. Streaming platforms are essentially robbing pay-TV users. Taking the US pay TV market as an example, after reaching a peak of 101 million paid subscribers in 2011, it has been declining year by year. Netflix currently has approximately 67 million users in the United States, meaning that more than half of its potential users have already paid for Netflix. In the first quarter of 2021, Netflix added only 4 million new users, lower than the expected 6 million, and its stock price fell by 11%.</p><p>A poor quarterly performance isn't a serious problem for Netflix; what's truly damaging is that its market share may be being eroded by competitors.</p><p>In response to revenue pressure from slowing user growth, Netflix has raised membership fees five times. The most recent incident occurred in October 2020, when the basic plan remained unchanged at $8.99, while the standard and basic plans increased by $1 and $2 respectively to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for over a decade, HBO NOW ($14.99 ad-free) and HULU ($11.99 ad-free), but it is comparable to Disney.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared to these ambitious new generation entrants, they have little advantage. Disney+ costs just $7.99 a month, and Apple TV+ costs even less at just $4.99.</p><p>The past year has been almost a period of global streaming, with giants Disney, Apple, and Paramount entering the market one after another.</p><p>During the first quarter earnings call, when asked about his views on the current competition, Netflix founder Reed Hastings responded: \"Obviously, new competition is always there. But when we look at past data, the company has been growing because we are also very confident.\"</p><p>The confidence of the founders is one aspect, but the encroachment of Netflix by the giants is also real. In 2020, Netflix's market share of original programming fell from 56% at the beginning of the year to 50%.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global market share of original programs. Data Source Parrot Analytics. Image source:<a href=\"https://laohu8.com/S/NYT\">New York times</a></p><p>Behind this lies the loss of content from Netflix. Due to the launch of Disney+, Netflix removed a series of Disney IP content from its platforms. HBO also regained the copyrights to works such as \"Friends,\" \"The Big Bang Theory,\" and Studio Ghibli. Similarly, the veteran sitcom \"The Office\" has also been reclaimed by NBC.</p><p>Netflix original dramas account for only 30% of the total viewing time of subscribers, with the rest coming from external copyrights. According to data from CBN magazine, the top three longest-running Netflix shows in 2018 were \"The Office,\" \"Friends,\" and \"Grey's Anatomy.\" New content may be key to driving user growth, but existing viewers tend to choose works they are familiar with.</p><p>Netflix, which has been focusing on original content, has withdrawn most of its production plans due to the pandemic. Currently, Netflix does not have any major return series.</p><p>Netflix's model is somewhat like a one-off deal. After watching a series, users no longer have contact with it. Netflix's Stranger Things and House of Cards have a large number of die-hard fans, but a single subscription payment model cannot fully tap into the value of these IPs. This creates a strange phenomenon: on one side are fans holding banknotes and shouting \"Shut up and take my money,\" while on the other side are official fans who remain \"indifferent.\"</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Image source: memegenetator</p><p>Last year, Netflix's original documentary \"Tiger King\" was watched by 34.3 million people within 10 days of its release, making it Netflix's most successful series. A large number of Tiger King merchandise immediately appeared on the e-commerce brand Esty. But without exception, they were all counterfeits.</p><p>A search for \"Tiger King\" on Esty still yields 8195 results. Image source: Esty</p><p>This makes it easy to understand why Netflix launched an online store. On Netflix's official blog, Josh Simon, head of the Netflix Shop and vice president of consumer products, wrote:<b>We like to see good stories go beyond the screen and become a part of people's lives.</b>」「<b>We've been thinking about how to expand our story world for our fans, from costumes and toys to immersive events and games.</b>That's why today we're launching Netflix.shop, an exciting new destination that combines curated products and rich stories into a unique Netflix shopping experience.</p><p>These words are all about one thing:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man went to a hotel and approached Walter Disney, offering $300 to have Mickey Mouse's image printed on his desk. This $300 became Disney's first \"franchise\" revenue. Nearly a century later, that $300 became a $54.7 billion business.</p><p>Flipping through Disney's list of IPs, you'll find it's an almost endless list. In addition to its own original IPs, such as Mickey Mouse, Winnie the Pooh, Disney princesses, and The Lion King, Disney also aggressively acquired Pixar, Marvel, Lucasfilm, and 20th Century Fox in the first 20 years of the 21st century. In other words, apart from Mickey Mouse, all the IPs you are familiar with, such as the Avengers, Star Wars, Avatar, and Toy Story, belong to Disney.</p><p>Family portraits of Disney IP characters. Image source: psu.edu</p><p>According to TitleMax's 2019 data, eight of the world's 20 most profitable IPs originated from Disney, with a cumulative economic value of $355.182 billion. Winnie the Pooh, Mickey Mouse, and Star Wars ranked 3rd, 4th, and 5th respectively. These old IPs, which are over 40 years old or even nearly a century old, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The remaining Disney IPs in the TOP 20 are Disney Princesses at number 7, the Marvel Cinematic Universe at number 11, Spider-Man at number 12, Car Story at number 18, and Toy Story at number 19. Image source: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>Films themselves may not make money, but they must drive the development of related products.</b>。 Walt Disney clearly understood this well. As early as 1957, he drew a sketch that clearly described Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model drawn by Walt Disney. Image source: kottke.org</p><p>In this sketch, film studios are clearly central, with music, television, licensed merchandise, theme parks, and publications all surrounding them. Take magazines, for example. Movies provide articles for magazines, and magazines can promote movies and Disneyland. Each part is closely linked, cooperates with each other, and complements each other.</p><p>To this day, Disney has not deviated from the underlying logic of this model. Disney never views its animated characters as disposable consumer goods, but rather as a gold mine for long-term consumption. When Disney makes a movie, the company doesn't just consider the movie itself, but how to translate the story into goods, services, experiences, and other derivative products. As former Disney CFO Jay Rasulo said, \"Every aspect of the company is brand- and franchise-oriented.\"</p><p>Today, Disney's model is called<b>Round revenue</b>。</p><p>First, Disney will release movies centered on IP stories at high costs to earn its first round of revenue through box office revenue.</p><p>Disney will then sell the film rights to streaming platforms to earn a second round of revenue.</p><p>Meanwhile, with each new movie released, Disney adds corresponding new characters to the theme park, generating a third round of revenue through Disneyland.</p><p>Finally, earn the fourth round of income through franchising, publishing, retail, etc.</p><p>Through these four rounds of revenue generation, Disney has clearly \"squeezed out\" the profits from every IP. These diverse revenue streams give Disney a key advantage over Netflix, further extending the vitality of its IPs.</p><p><b>Build love for stories and turn love into money</b></p><p>Unlike Disney, Netflix has no plans to establish offline stores. Currently, Netflix has partnered with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Retailers such as H&M and Sephora have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online store system with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times, and Kim Kardashian's brand Skims.</p><p>Simon, the project leader at Netflix Shop, spent six years at Disney Studios as the production and development director.</p><p>This information seems to demonstrate Netflix's determination: \"Hey! We're not just playing around, we're serious!\"</p><p>For years, Netflix has avoided whether it is an entertainment or technology company. Just recently, Netflix founder Hastings declared, \"We really are an entertainment company.\"</p><p>According to Matthew Ball, a former Amazon Studio executive,<b>Essentially, an entertainment company does only three things:</b></p><p><ol><li><b>Creating/Telling Stories</b></p><p></li><li><b>Build love for these stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By this standard, Disney is undoubtedly the best company on the planet. Think about it, how many little girls want to wear Elsa's blue dress while visiting Disneyland? How many parents would pay for this?</p><p>Netflix has done a good enough job of storytelling and building love, but can it turn love into money?</p><p>Mark A. Cohen, director of retail research at Columbia Business School, expressed skepticism: \"Most of them (Netflix's hit shows) have a short shelf life, unlike Disney's IP, which is a long journey of a generation.\"</p><p>Despite a great deal of uncertainty, this is undoubtedly Netflix's best financial year yet. The company has borrowed a total of $16 billion over the past 10 years. At the end of last year, Netflix stated in its fourth-quarter earnings report that it no longer needed to seek borrowing to finance the company. In other words, Netflix has become a truly profitable company.</p><p>Meanwhile, its other streaming competitors are still losing money, including Disney.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw\">极客公园</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e2224e6b43e75f835dbd8bb6d8c4972c","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","NFLX":"奈飞","DIS":"迪士尼"},"source_url":"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138372330","content_text":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix Shop，首次进入了电商领域。\nNetflix Shop 目前在售的商品数量还很有限，不过 18 种。其中有高达 135 美元的机器人闹钟，也有 30 美元的 T 恤，但主要还是价位在 30 至 80 美元的服饰。未来，Netflix 还会推出《怪奇物语》《猎魔人》等系列商品。\n这些商品的共同点在于——它们都是 Netflix 旗下 IP 的周边产品。\n这很难让人不联想到 IP 授权市场里的那个顶级玩家——迪士尼。根据国际授权业协会（LIMA）数据显示，2019 年全球授权商品的销售额为了 2928 亿美元。第一名迪士尼就占了 547 亿美元，这个数字，是 Netflix 2020 全年收入的两倍。\n显然，Netflix 瞄准了 IP 授权的蛋糕。这背后，是 Netflix 的隐忧，和野心。\nNetflix 的隐忧\n2020 年几乎是 Netflix 诞生以来最好的一年。因为疫情宅家的原因，许多人的娱乐活动都转向了线上。Netflix 也因此增长了 3700 万付费用户，打破了该公司的增长纪录，总付费用户数也历史性地突破 2 亿。相应的，全年利润增长了 76%。\n这家创立时做 DVD 租赁生意的公司，在电视黄金时代的末尾，及时转向了流媒体业务。此后年年实现了付费用户两位数以上的增长。\n作为一家市值 2300 亿美元的公司，Netflix 的商业模式却极其简单——生产优质内容，吸引消费者付费订阅。2019 年，Netflix 98.52% 的收入都来自会员费。类比国内的长视频平台爱奇艺，会员费仅占其总营收的约 50%，其它的收入主要来自在线广告和内容分发。可以说，Netflix 营收的增长完全取决于用户的增长。这句话的另一面是，一旦付费用户无法持续增长，Netflix 的商业模式就会迎来危机。\n作为流媒体平台的先驱和用户数量最庞大的 Netflix，可能更早撞上用户天花板。流媒体平台本质上是抢夺了付费电视的用户。以美国付费电视市场为例，在 2011 年付费用户达到 1.01 亿的顶峰后就逐年下滑。目前 Netflix 的美国用户约为 6700 万，也就是说，超过半数的潜在用户已经为 Netflix 买了单。就在 2021 年第一季度，Netflix 新增用户仅为 400 万，低于预期的 600 万，Netflix 的股价应声下跌了 11%。\n一个季度的糟糕表现对 Netflix 来说并不是什么严重的问题，真正伤筋动骨的是——Netflix 的市场份额可能正在被竞争对手蚕食。\n为了应对用户增长放缓带来的营收压力，Netflix 的会员费先后上涨过 5 次。最近的一次发生在 2020 年 10 月份, 基础套餐维持在 8.99 美元不变，标准和基础套餐别上涨了 1 美元和 2 美元，至 13.99 美元和 17.99 美元。\n这个价格与 Netflix 过于十几年来的主要竞争对手 HBO NOW（无广告版 14.99 美元）、HULU（无广告版 11.99 美元）差别不大，但是和迪士尼、苹果这些野心勃勃的新一代入场者相比，就没有什么优势了。迪士尼+的月费仅为 7.99 美元，苹果 TV+的费用甚至更低，仅为 4.99 美元。\n过去一年几乎是全球流媒体的战国时代，巨头迪士尼、苹果、派拉蒙相继入场。\n在今年一季度的财报分析会议上，当被问及如何看待当下的竞争时，Netflix 的创始人里德·黑斯廷斯（Reed Hastings）是这么回应的：「很明显，新的竞争一直存在。但是当我们翻看过往的数据，公司一直在保持增长，因为我们也很有信心。」\n创始人的信心是一方面，但巨头们对 Netflix 的蚕食也是实实在在。2020 年，Netflix 原创节目的市场份额从年初的 56% 跌至了 50%。\n全球原创节目市场份额。数据来源：Parrot Analytics。图片来源：纽约时报\n这背后，是 Netflix 的内容流失。因为迪士尼+的上线，Netflix 下架了一系列迪士尼 IP 内容。而 HBO，也拿回了《老友记》《生活大爆炸》、吉卜力工作室等作品的版权。同样的，老牌情景喜剧《办公室》也被 NBC 收回旗下。\n在订阅用户的观看时长中，Netflix 自制剧仅占总数的 30%，其它都来自外部版权。根据《第一财经》杂志的数据，2018 年 Netflix 播放时长前三的作品正是《办公室》《老友记》和《实习医生格蕾》。新内容可能是拉动用户增长的关键，但是对于老观众来说，他们更倾向于选择自己熟悉的作品。\n一直在原创内容发力的 Netflix，因为疫情的缘故，撤回了大部分制作计划。目前，Netflix 还没有任何大型的回归系列。\nNetflix 的模式多少像是一锤子买卖。用户观看完剧集后，就和这部剧不再发生联系。Netflix 旗下的《怪奇物语》《纸牌屋》有大批的死忠粉丝，但单一的订阅付费模式并不能完全挖掘这些 IP 的价值。这就出现了一种奇怪的现象：一边是手握钞票嗷嗷叫着「Shut up and take my money」的粉丝，一边是「无动于衷」的官方。\n图片来源：memegenetator\n去年 Netflix 自制纪录片《虎王》上线 10 天就有 3430 万人观看，是 Netflix 最成功的剧集。在电商品牌 Esty 上立刻出现了大量《虎王》周边。但无一列外，它们都是山寨的。\n在 Esty 上搜索「虎王」，仍有 8195 条结果。图片来源：Esty\n这就不难理解为什么 Netflix 要推出线上商城。在 Netflix 官方博客中，Netflix Shop 的负责人、消费品部门副总裁约什·西蒙（Josh Simon）如此写道：「我们喜欢看到好故事超越屏幕，成为人们生活的一部分。」「我们一直在考虑如何为粉丝们拓展我们的故事世界，从服装和玩具到身临其境的事件和游戏。这也是为什么今天我们推出 Netflix.shop，将其作为一个令人兴奋的新目的地，将精心策划的产品和丰富的故事结合在一个独特的 Netflix 购物体验中。」\n这字里行间都在说一件事：我们想要成为迪士尼！\n迪士尼魔法\n1929 年，有一个人到旅馆找到沃尔特·迪士尼（Walter Disney），拿出 300 美元，要求把米老鼠的形象印在写字桌上。这 300 美元成了迪士尼的第一笔「特许经营」收入。近百年后，这 300 美元成了 547 亿美元的大生意。\n翻开迪士尼的 IP 清单，你会发现这几乎是一本长不见底的名录。除了自有的原创 IP，如米老鼠、小熊维尼、迪士尼公主、狮子王等，迪士尼在 21 世纪的头 20 年还疯狂收购了皮克斯、漫威、卢卡斯影业、二十世纪福克斯。也就是说，除了米老鼠，你所熟悉的复仇者联盟、星球大战、阿凡达、玩具总动员这些 IP 全部都属于迪士尼。\n迪士尼旗下 IP 人物全家福。图片来源：psu.edu\n根据 TitleMax 2019 年的数据，全球最赚钱的 20 个 IP 中有 8 个来自迪士尼，累计经济价值达 3551.82 亿美元。其中小熊维尼、米老鼠、星球大战分别位列第 3、4、5 位。这些超过了 40 年甚至近百年的老 IP，依旧爆发出了惊人的生命力。\n其余 TOP 20 的迪士尼 IP 分别是第 7 位的迪士尼公主、11 位的漫威宇宙、12 位的蜘蛛侠、18 位的赛车总动员和 19 位的玩具总动员。图片来源：TITLEMAX\n在好莱坞，有一个著名的火车头理论：电影本身可以不赚钱，但它必须带动相关产品的发展。沃尔特·迪士尼显然深谙此道。早在 1957 年，他就画下了一张草图，清晰描述了迪士尼的商业模式。\n沃尔特·迪士尼画下的迪士尼商业模式。图片来源：kottke.org\n在这张草图中，电影制片厂处在了明确的中心位置，音乐、电视、授权商品、主题乐园和出版物都环绕在四周。拿杂志来说，电影为杂志提供了文章内容，杂志则可以宣传电影和迪士尼乐园。每一部分都紧密联系在一起，相互配合，相互补充。\n时至今日，迪士尼公司依旧没有脱离这套模式的底层逻辑。迪士尼从不把创作出的动画形象看成一次性消费品，而是作为一个可长久消费的金矿去深度挖掘。当迪士尼制作一部电影时，公司不仅仅是考虑电影本身，而如何将故事转化为商品、服务、体验和其它衍生产品。正如迪士尼前首席财务官杰·拉苏洛（Jay Rasulo）所说：「公司的每个方面都是面向品牌和特许经营的。」\n在今天，迪士尼的这种模式被叫做轮次收入。\n首先，迪士尼会以高成本推出以 IP 故事为核心的电影，通过票房赚取第一轮收入。\n然后，迪士尼会把影片版权卖给流媒体平台，赚取第二轮收入\n同时，迪士尼每推出一部新电影就会在主题乐园中增加相应的新人物，通过迪士尼乐园赚取第三轮收入。\n最后，通过特许经营、出版、零售等方式赚取第四轮收入。\n通过这四轮收入，迪士尼明明白白地「榨干」了每一个 IP 的利润。这些多种多样的盈利渠道使迪士尼比 Netflix 拥有了关键的优势，更加延续了旗下 IP 的生命力。\n为故事建立爱，把爱变成钱\n与迪士尼不同，Netflix 并没有建立线下门店的计划。目前，Netflix 已经和 Target、沃尔玛、亚马逊、H&M、丝芙兰等零售商签订了数百种周边产品的许可协议。\nNetflix 还和电商平台 Shopify 一起开发了线上商城系统。此前，Shopify 已经为 Allbirds、Kith、《纽约时报》和金·卡戴珊（Kim Kardashian）的品牌 Skims 提供过技术支持。\n而 Netflix Shop 的项目负责人西蒙，就曾经在迪士尼工作室呆过六年，担任制作和开发总监。\n这些信息似乎都在表明 Netflix 的决心：「嘿！我们可不是在玩票，我们是认真的！」\n多年来，Netflix 一直回避自己是一家娱乐公司还是科技公司。就在最近，Netflix 创始人黑斯廷斯宣称：「我们真的是一家娱乐公司。」\n按照亚马逊工作室（Amazon Studio）前高管马修·鲍尔（Matthew Ball）的说法，从本质上讲，一家娱乐公司只做三件事：\n\n创造/讲述故事\n为这些故事建立爱\n把爱变成钱\n\n按照这个标准来说，迪士尼无疑是这个星球上做得最好的公司。想想看，有多少小女孩想在逛迪士尼乐园的时候穿上爱莎的蓝色长裙？又有多少家长会为此买单？\n在讲故事和建立爱上，Netflix 已经做得足够好了，但它能把爱变成钱吗？\n哥伦比亚商学院的零售研究主任马克·A·科恩（Mark A Cohen）就表示了怀疑：「它们（Netflix 的热播剧）大多数的保质期都很短，不像迪士尼的 IP，那是一代人的漫长旅程。」\n尽管有非常多的不确定性，但当下无疑是 Netflix 财务状况最好的一年。这家公司在过去 10 年总共借款达 160 亿美元。去年年底，Netflix 在第四季度财报上表示，它不再需要寻求借款来为公司提供资金。换句话说，Netflix 成为了一家真正盈利的公司。\n而它的其它流媒体竞争对手，都还在亏着钱，包括迪士尼。","news_type":1,"symbols_score_info":{"NFLX":0.9,"QNETCN":0.9,"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":4205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125893144,"gmtCreate":1624666797288,"gmtModify":1703843043553,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125893144","repostId":"1193078182","repostType":4,"repost":{"id":"1193078182","kind":"news","pubTimestamp":1624665305,"share":"https://ttm.financial/m/news/1193078182?lang=en_US&edition=fundamental","pubTime":"2021-06-26 07:55","market":"hk","language":"zh","title":"With its dual major IPO approved, can XPeng achieve a win-win situation for both capital and the market?","url":"https://stock-news.laohu8.com/highlight/detail?id=1193078182","media":"锌财经","summary":"距离美国上市不到一年，小鹏汽车又有了大动作。6月24日，据港交所官网显示，小鹏汽车已通过港交所聆讯，将冲刺港交所智能电动车第一股，同时，小鹏汽车也将成为今年首个美国、香港两地双重主要上市中概股。\n一旦","content":"<p>Less than a year after its US listing,<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>Another big move. On June 24, according to the Hong Kong Stock Exchange's official website, XPeng Automotive has passed the Hong Kong Stock Exchange hearing and will strive for a Hong Kong Stock Exchange listing.<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>XPeng Motor Company will become the first Chinese concept stock to be listed in both the United States and Hong Kong this year.</p><p>Once its IPO is successful, XPeng Automobile, which does not pursue gross profit in the short term, hopes to use the funds raised more for the research and development of technological innovations such as autonomous driving and intelligent operating systems.</p><p>Meanwhile, driven by national policies and the entry of numerous technology giants, intelligent vehicles are about to enter a period of rapid growth, and the successful listing of XPeng may become a milestone event in the history of China's intelligent electric vehicle development.</p><p><b>It will become the first emerging Hong Kong stock market.</b></p><p>According to foreign media reports, the international placement of XPeng Automotive, a Chinese intelligent electric vehicle company, has received full subscriptions. According to data from Futu, XPeng Motors' public offering has so far raised HK$997 million, representing an oversubscription of 0.3 times.</p><p>On June 25, XPeng Motor issued an announcement stating that the company will conduct its IPO from June 25 to June 30; The company plans to offer 85 million shares globally, including 4.25 million shares offered in Hong Kong and 80.75 million shares offered internationally, with a 15% over-allotment option. The issue price per share will not exceed HK$180, with trading units of 100 shares per lot, and an entry fee of approximately HK$18,181.39. The Shares are expected to be listed on the Main Board of the Stock Exchange on 7 July.</p><p>According to the Hong Kong Stock Exchange,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Bank of America and Bank of America are the joint sponsors for this transaction. These investment banks helped XPeng Motor Company complete its IPO in the United States last August.</p><p>In August 2020, XPeng went public in the United States with an offering price of $15 per share. Its opening price on the first day was $23.10, an increase of more than 55% from the offering price. At the beginning of its IPO, XPeng set its sights on becoming a company with a market capitalization of hundreds of billions of dollars, and its stock price did indeed develop according to the company's expectations. By the end of November 2020, XPeng Motor Company had once risen to $74.</p><p><img src=\"https://static.tigerbbs.com/ab56716b04b05384b561ebe548a119c5\" tg-width=\"975\" tg-height=\"650\" referrerpolicy=\"no-referrer\"></p><p>According to the regulations of the Hong Kong Stock Exchange, a company needs to meet some \"hard\" requirements for a secondary listing in Hong Kong. First, the industry in which the company operates requires innovation.<a href=\"https://laohu8.com/S/300832\">New industry</a>； Secondly, the company must have a good regulatory compliance record of at least two years on another eligible exchange; Third, a market capitalization of at least HK$40 billion, or a market capitalization of over HK$10 billion and revenue of over HK$1 billion.</p><p>For XPeng Motor Company, which has been listed in the United States for less than a year, this Hong Kong listing constitutes a dual major listing, which requires the company to be jointly regulated by the U.S. Securities and Exchange Commission (SEC) and the Hong Kong Securities and Futures Commission (SFC). It is understood that a dual primary listing is a more stringent listing process than a secondary listing, in which the regulatory authority of the primary listing location has primary regulatory authority.</p><p>To date, it has included<a href=\"https://laohu8.com/S/JD\">JD.com</a>、<a href=\"https://laohu8.com/S/NTES\">NetEase</a>More than 10 Chinese concept stocks, including those listed in Hong Kong, have undergone secondary listings. In the field of car manufacturing, XPeng has also appeared before.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Rumors circulate that Li Auto, one of the three major domestic emerging car manufacturers, will list in Hong Kong.</p><p>In March of this year, Reuters, citing sources familiar with the matter, reported that Nio had contacted<a href=\"https://laohu8.com/S/CS\">Credit Suisse</a>and<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It will issue shares on the Hong Kong Stock Exchange and will also plan to list on the A-share market in the future. And ideals are related to<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>and<a href=\"https://laohu8.com/S/UBS\">UBS</a>The partnership is expected to complete its Hong Kong listing in the third quarter of this year, raising US$1 billion to US$2 billion. At the same time,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Founder Li Xiang once stated that Li Auto does not mind any form of financing, including the secondary market, bank loans, and bond issuance.</p><p>XPeng Motors was the first to pass the Hong Kong Stock Exchange hearing, undoubtedly ahead of the other two emerging electric vehicle manufacturers.</p><p>Zhang Yi, CEO of iiMedia Research, told Zinc Finance that listing in Hong Kong can mitigate the risks of uncertainty in the US capital market, especially the secondary market. At the same time, dual major listings will greatly help companies raise funds, while dual markets can directly enhance XPeng Automobile's influence in domestic and international markets and help expand brand marketing.</p><p><b>Increase R&D investment and play the \"technological innovation card\"</b></p><p>Going public can undoubtedly raise more funds. The use of funds is the most important factor that can truly affect a company's development.</p><p>Reports indicate that XPeng Motors has raised up to $2 billion in this financing round. The company declined to comment. However, according to its prospectus, it will use approximately 45% of the net proceeds to expand the company's product portfolio and develop more advanced technologies; Approximately 35% of the net proceeds will be used to accelerate the company's business expansion by enhancing brand awareness, acquiring customers through omnichannel marketing strategies, and increasing sales and service touchpoints domestically and internationally. Approximately 10% of the net proceeds will be used to enhance production capacity, including expanding production capacity, upgrading production facilities, and developing production technologies; Approximately 10% of the net proceeds were used for general corporate purposes, including working capital.</p><p>This shows that research and development has become a top priority in XPeng Motors' strategic layout. In fact, as a technology-driven company, XPeng has invested heavily in independent research and development, hoping to drive the company's rapid development and even promote the transformation of intelligent electric vehicles through differentiated products and services.</p><p>According to XPeng Motors' previous financial report, XPeng Motors' revenue was 9.7 million yuan, 2.321 billion yuan and 5.844 billion yuan in 2018, 2020 and 2020, respectively. In the first quarter of this year, its revenue was 2.951 billion yuan, an increase of 616.1% compared with the same period last year.</p><p>In terms of R&D expenditure, XPeng Automobile's R&D expenditure was RMB 1.051 billion, RMB 2.07 billion, RMB 1.726 billion and RMB 535 million in 2018-2020 and the first quarter of this year, respectively. Research and development expenses accounted for 89.2%, 29.5% and 18.1% of total revenue in 2019, 2020 and the first quarter of this year, respectively.</p><p>XPeng believes that only through continuous investment in research and development can it maintain its leading position in the field of intelligent electric vehicles. The company will focus on technological innovation and continuously upgrade its autonomous driving, intelligent operating systems, and core vehicle systems.</p><p>In terms of technological innovation, XPeng is currently the only car company in China that has independently developed full-stack autonomous driving technology and applied the software to mass-produced vehicles. Its latest independently developed autonomous driving system, XPILOT 3.0, is the highest level of autonomous driving technology currently used in cars sold on the market.</p><p>Undeniably, in the pursuit of technological innovation, we will also encounter losses due to high R&D costs. XPeng Motor has its own views on this: \"In the long run, a technology-based automotive company should have high gross profits. In the short to medium term, it is wrong to have too high gross profits in the short term. We will adhere to the technology route, follow our own path well, and define our own positioning.\"</p><p>“Companies go through some strategic stages in market cultivation and product development. As long as there are no funding problems, everything else is secondary.” In Zhang Yi’s view, “There is no doubt about XPeng Auto’s financing capabilities.”</p><p>In fact, XPeng Automotive currently has relatively ample funds. As of March 31 this year, the company had a total of RMB 36.2 billion in cash, cash equivalents, restricted funds, short-term deposits, short-term investments and long-term deposits. XPeng expects to deliver 15,500 to 16,000 vehicles in the second quarter, representing a year-on-year increase of 380.2% to 395.7%. Total revenue was between RMB3.4 billion and 3.5 billion, representing a year-on-year increase of 475.5% to 492.4%.</p><p><b>Deepening its focus on intelligent vehicles has attracted significant capital investment.</b></p><p>Currently, the replacement of gasoline-powered vehicles by electric vehicles is an inevitable trend globally, and policies from various countries are favorable to the development of electric vehicles.</p><p>In China, in October 2020, the State Council announced the \"New Energy Vehicle Industry Development Plan (2021–2035)\" (the \"New Energy Vehicle Industry Development Plan\"), which pointed out that the development of new energy vehicles is the only way for China to transform into an automobile powerhouse. The State Council has set a target of increasing the penetration rate of new energy vehicles in China's passenger vehicle market to 20% by 2025, and it is expected that pure electric vehicles will become the mainstream of new energy vehicles in new sales.</p><p>It is worth noting that the Chinese government has put forward a vision for the development of intelligent connected vehicles in its new energy vehicle industry development plan, planning to achieve large-scale commercialization of high-level autonomous driving in specific scenarios by 2025, while also strengthening the research and development of key components and systems for connected vehicles.</p><p>At the 11th China Automotive Forum hosted by the China Association of Automobile Manufacturers recently, Yu Peng, Senior Director of Embedded Systems at XPeng Automotive, said that after smartphones, we have every reason to believe that the next generation of intelligent software and hardware core carriers will definitely be intelligent cars.</p><p>Currently, including<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Many tech giants such as Xiaomi, Didi, and 360 have begun to expand into the field of intelligent vehicles, and software is gradually becoming the new commanding height of intelligent vehicles.</p><p>According to McKinsey research, the automotive software and electrical and electronic components (E/E) market is projected to grow at a compound annual growth rate of 7%, reaching $469 billion by 2030.</p><p>Industry experts predict that by 2025, smart cars + electric vehicles will account for 60% of new cars in China's first-tier cities, with smart cars accounting for more than 50% of them. It is expected that by 2028, intelligent vehicles will enter a period of rapid growth.</p><p>According to Zinc Finance, XPeng has been focusing on intelligent electric vehicles for a long time. As of March 31, 2021, 13,340 smart electric vehicles had been delivered. In April of this year, XPeng released the P5, its third smart electric vehicle, and the company plans to begin mass deliveries of the P5 in the fourth quarter of this year.</p><p>In addition to the P5, XPeng also plans to deliver the mid-cycle facelift of the G3, the G3i, by the end of the third quarter of this year, and plans to launch its fourth intelligent electric vehicle in 2022, an SUV with an advanced autonomous driving system and an enhanced core vehicle system.</p><p>According to Zinc Finance, the accelerated vehicle deliveries mean that XPeng vehicles will officially pass the production ramp-up period and usher in a new round of high-speed growth. In addition, it is particularly worth mentioning that as of the first quarter of this year, XPeng had 172 branded supercharging stations, covering 60 cities. The plan is to build more than 500 self-branded Supercharger stations by the end of this year.</p><p>In terms of software, XPeng is currently the only Chinese automaker that charges separately for its fully self-developed autonomous driving assistance software, with total recognized revenue of 80 million yuan. In the first quarter of 2021, software revenue was 30 million yuan. In the future, the business model of software business revenue will have a clear positive trend in the field of intelligent vehicles.</p><p>According to data from the first quarter of this year, software revenue accounted for 2.5% of XPeng Motors' total revenue. The inclusion of this portion of revenue also improved gross profit margin. As deliveries increase, the software's contribution to the company's revenue and gross profit will continue to rise. XPeng expects software revenue penetration to increase by 1% in the second quarter of this year compared to the first quarter.</p><p>Such relentless efforts in developing the intelligent electric vehicle market have also attracted more capital. Public information shows that since its establishment in 2015, XPeng has successively received...<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>With the support of numerous domestic and international investors, including Group, Xiaomi Group, IDG Capital, Morningside Capital, GGV Capital, Primavera Capital, Hillhouse Capital, and Sequoia China.</p><p><a href=\"https://laohu8.com/S/00017\">New World development</a>Executive Vice Chairman and CEO Andrew Cheng said, “I have always been optimistic about the development of intelligent vehicles, which have unlimited market potential. Since its inception, XPeng Motors has always adhered to independent research and development. It is the only company in mainland China that can deeply integrate its own software and hardware and achieve mass production. Its product development includes innovative technologies such as autonomous driving and advanced voice interaction, bringing more consumers an innovative driving experience that combines safety and a sense of the future. This also prompted me to invest in XPeng Motors.”</p><p>With the support of numerous investors, coupled with the fact that a successful listing in Hong Kong could become a milestone in the history of China's intelligent electric vehicle development, XPeng has even more room for imagination in the future.</p>","source":"lsy1568892980557","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>With its dual major IPO approved, can XPeng achieve a win-win situation for both capital and the market?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWith its dual major IPO approved, can XPeng achieve a win-win situation for both capital and the market?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">锌财经</strong><span class=\"h-time small\">2021-06-26 07:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Less than a year after its US listing,<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>Another big move. On June 24, according to the Hong Kong Stock Exchange's official website, XPeng Automotive has passed the Hong Kong Stock Exchange hearing and will strive for a Hong Kong Stock Exchange listing.<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>XPeng Motor Company will become the first Chinese concept stock to be listed in both the United States and Hong Kong this year.</p><p>Once its IPO is successful, XPeng Automobile, which does not pursue gross profit in the short term, hopes to use the funds raised more for the research and development of technological innovations such as autonomous driving and intelligent operating systems.</p><p>Meanwhile, driven by national policies and the entry of numerous technology giants, intelligent vehicles are about to enter a period of rapid growth, and the successful listing of XPeng may become a milestone event in the history of China's intelligent electric vehicle development.</p><p><b>It will become the first emerging Hong Kong stock market.</b></p><p>According to foreign media reports, the international placement of XPeng Automotive, a Chinese intelligent electric vehicle company, has received full subscriptions. According to data from Futu, XPeng Motors' public offering has so far raised HK$997 million, representing an oversubscription of 0.3 times.</p><p>On June 25, XPeng Motor issued an announcement stating that the company will conduct its IPO from June 25 to June 30; The company plans to offer 85 million shares globally, including 4.25 million shares offered in Hong Kong and 80.75 million shares offered internationally, with a 15% over-allotment option. The issue price per share will not exceed HK$180, with trading units of 100 shares per lot, and an entry fee of approximately HK$18,181.39. The Shares are expected to be listed on the Main Board of the Stock Exchange on 7 July.</p><p>According to the Hong Kong Stock Exchange,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Bank of America and Bank of America are the joint sponsors for this transaction. These investment banks helped XPeng Motor Company complete its IPO in the United States last August.</p><p>In August 2020, XPeng went public in the United States with an offering price of $15 per share. Its opening price on the first day was $23.10, an increase of more than 55% from the offering price. At the beginning of its IPO, XPeng set its sights on becoming a company with a market capitalization of hundreds of billions of dollars, and its stock price did indeed develop according to the company's expectations. By the end of November 2020, XPeng Motor Company had once risen to $74.</p><p><img src=\"https://static.tigerbbs.com/ab56716b04b05384b561ebe548a119c5\" tg-width=\"975\" tg-height=\"650\" referrerpolicy=\"no-referrer\"></p><p>According to the regulations of the Hong Kong Stock Exchange, a company needs to meet some \"hard\" requirements for a secondary listing in Hong Kong. First, the industry in which the company operates requires innovation.<a href=\"https://laohu8.com/S/300832\">New industry</a>； Secondly, the company must have a good regulatory compliance record of at least two years on another eligible exchange; Third, a market capitalization of at least HK$40 billion, or a market capitalization of over HK$10 billion and revenue of over HK$1 billion.</p><p>For XPeng Motor Company, which has been listed in the United States for less than a year, this Hong Kong listing constitutes a dual major listing, which requires the company to be jointly regulated by the U.S. Securities and Exchange Commission (SEC) and the Hong Kong Securities and Futures Commission (SFC). It is understood that a dual primary listing is a more stringent listing process than a secondary listing, in which the regulatory authority of the primary listing location has primary regulatory authority.</p><p>To date, it has included<a href=\"https://laohu8.com/S/JD\">JD.com</a>、<a href=\"https://laohu8.com/S/NTES\">NetEase</a>More than 10 Chinese concept stocks, including those listed in Hong Kong, have undergone secondary listings. In the field of car manufacturing, XPeng has also appeared before.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Rumors circulate that Li Auto, one of the three major domestic emerging car manufacturers, will list in Hong Kong.</p><p>In March of this year, Reuters, citing sources familiar with the matter, reported that Nio had contacted<a href=\"https://laohu8.com/S/CS\">Credit Suisse</a>and<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It will issue shares on the Hong Kong Stock Exchange and will also plan to list on the A-share market in the future. And ideals are related to<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>and<a href=\"https://laohu8.com/S/UBS\">UBS</a>The partnership is expected to complete its Hong Kong listing in the third quarter of this year, raising US$1 billion to US$2 billion. At the same time,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Founder Li Xiang once stated that Li Auto does not mind any form of financing, including the secondary market, bank loans, and bond issuance.</p><p>XPeng Motors was the first to pass the Hong Kong Stock Exchange hearing, undoubtedly ahead of the other two emerging electric vehicle manufacturers.</p><p>Zhang Yi, CEO of iiMedia Research, told Zinc Finance that listing in Hong Kong can mitigate the risks of uncertainty in the US capital market, especially the secondary market. At the same time, dual major listings will greatly help companies raise funds, while dual markets can directly enhance XPeng Automobile's influence in domestic and international markets and help expand brand marketing.</p><p><b>Increase R&D investment and play the \"technological innovation card\"</b></p><p>Going public can undoubtedly raise more funds. The use of funds is the most important factor that can truly affect a company's development.</p><p>Reports indicate that XPeng Motors has raised up to $2 billion in this financing round. The company declined to comment. However, according to its prospectus, it will use approximately 45% of the net proceeds to expand the company's product portfolio and develop more advanced technologies; Approximately 35% of the net proceeds will be used to accelerate the company's business expansion by enhancing brand awareness, acquiring customers through omnichannel marketing strategies, and increasing sales and service touchpoints domestically and internationally. Approximately 10% of the net proceeds will be used to enhance production capacity, including expanding production capacity, upgrading production facilities, and developing production technologies; Approximately 10% of the net proceeds were used for general corporate purposes, including working capital.</p><p>This shows that research and development has become a top priority in XPeng Motors' strategic layout. In fact, as a technology-driven company, XPeng has invested heavily in independent research and development, hoping to drive the company's rapid development and even promote the transformation of intelligent electric vehicles through differentiated products and services.</p><p>According to XPeng Motors' previous financial report, XPeng Motors' revenue was 9.7 million yuan, 2.321 billion yuan and 5.844 billion yuan in 2018, 2020 and 2020, respectively. In the first quarter of this year, its revenue was 2.951 billion yuan, an increase of 616.1% compared with the same period last year.</p><p>In terms of R&D expenditure, XPeng Automobile's R&D expenditure was RMB 1.051 billion, RMB 2.07 billion, RMB 1.726 billion and RMB 535 million in 2018-2020 and the first quarter of this year, respectively. Research and development expenses accounted for 89.2%, 29.5% and 18.1% of total revenue in 2019, 2020 and the first quarter of this year, respectively.</p><p>XPeng believes that only through continuous investment in research and development can it maintain its leading position in the field of intelligent electric vehicles. The company will focus on technological innovation and continuously upgrade its autonomous driving, intelligent operating systems, and core vehicle systems.</p><p>In terms of technological innovation, XPeng is currently the only car company in China that has independently developed full-stack autonomous driving technology and applied the software to mass-produced vehicles. Its latest independently developed autonomous driving system, XPILOT 3.0, is the highest level of autonomous driving technology currently used in cars sold on the market.</p><p>Undeniably, in the pursuit of technological innovation, we will also encounter losses due to high R&D costs. XPeng Motor has its own views on this: \"In the long run, a technology-based automotive company should have high gross profits. In the short to medium term, it is wrong to have too high gross profits in the short term. We will adhere to the technology route, follow our own path well, and define our own positioning.\"</p><p>“Companies go through some strategic stages in market cultivation and product development. As long as there are no funding problems, everything else is secondary.” In Zhang Yi’s view, “There is no doubt about XPeng Auto’s financing capabilities.”</p><p>In fact, XPeng Automotive currently has relatively ample funds. As of March 31 this year, the company had a total of RMB 36.2 billion in cash, cash equivalents, restricted funds, short-term deposits, short-term investments and long-term deposits. XPeng expects to deliver 15,500 to 16,000 vehicles in the second quarter, representing a year-on-year increase of 380.2% to 395.7%. Total revenue was between RMB3.4 billion and 3.5 billion, representing a year-on-year increase of 475.5% to 492.4%.</p><p><b>Deepening its focus on intelligent vehicles has attracted significant capital investment.</b></p><p>Currently, the replacement of gasoline-powered vehicles by electric vehicles is an inevitable trend globally, and policies from various countries are favorable to the development of electric vehicles.</p><p>In China, in October 2020, the State Council announced the \"New Energy Vehicle Industry Development Plan (2021–2035)\" (the \"New Energy Vehicle Industry Development Plan\"), which pointed out that the development of new energy vehicles is the only way for China to transform into an automobile powerhouse. The State Council has set a target of increasing the penetration rate of new energy vehicles in China's passenger vehicle market to 20% by 2025, and it is expected that pure electric vehicles will become the mainstream of new energy vehicles in new sales.</p><p>It is worth noting that the Chinese government has put forward a vision for the development of intelligent connected vehicles in its new energy vehicle industry development plan, planning to achieve large-scale commercialization of high-level autonomous driving in specific scenarios by 2025, while also strengthening the research and development of key components and systems for connected vehicles.</p><p>At the 11th China Automotive Forum hosted by the China Association of Automobile Manufacturers recently, Yu Peng, Senior Director of Embedded Systems at XPeng Automotive, said that after smartphones, we have every reason to believe that the next generation of intelligent software and hardware core carriers will definitely be intelligent cars.</p><p>Currently, including<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Many tech giants such as Xiaomi, Didi, and 360 have begun to expand into the field of intelligent vehicles, and software is gradually becoming the new commanding height of intelligent vehicles.</p><p>According to McKinsey research, the automotive software and electrical and electronic components (E/E) market is projected to grow at a compound annual growth rate of 7%, reaching $469 billion by 2030.</p><p>Industry experts predict that by 2025, smart cars + electric vehicles will account for 60% of new cars in China's first-tier cities, with smart cars accounting for more than 50% of them. It is expected that by 2028, intelligent vehicles will enter a period of rapid growth.</p><p>According to Zinc Finance, XPeng has been focusing on intelligent electric vehicles for a long time. As of March 31, 2021, 13,340 smart electric vehicles had been delivered. In April of this year, XPeng released the P5, its third smart electric vehicle, and the company plans to begin mass deliveries of the P5 in the fourth quarter of this year.</p><p>In addition to the P5, XPeng also plans to deliver the mid-cycle facelift of the G3, the G3i, by the end of the third quarter of this year, and plans to launch its fourth intelligent electric vehicle in 2022, an SUV with an advanced autonomous driving system and an enhanced core vehicle system.</p><p>According to Zinc Finance, the accelerated vehicle deliveries mean that XPeng vehicles will officially pass the production ramp-up period and usher in a new round of high-speed growth. In addition, it is particularly worth mentioning that as of the first quarter of this year, XPeng had 172 branded supercharging stations, covering 60 cities. The plan is to build more than 500 self-branded Supercharger stations by the end of this year.</p><p>In terms of software, XPeng is currently the only Chinese automaker that charges separately for its fully self-developed autonomous driving assistance software, with total recognized revenue of 80 million yuan. In the first quarter of 2021, software revenue was 30 million yuan. In the future, the business model of software business revenue will have a clear positive trend in the field of intelligent vehicles.</p><p>According to data from the first quarter of this year, software revenue accounted for 2.5% of XPeng Motors' total revenue. The inclusion of this portion of revenue also improved gross profit margin. As deliveries increase, the software's contribution to the company's revenue and gross profit will continue to rise. XPeng expects software revenue penetration to increase by 1% in the second quarter of this year compared to the first quarter.</p><p>Such relentless efforts in developing the intelligent electric vehicle market have also attracted more capital. Public information shows that since its establishment in 2015, XPeng has successively received...<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>With the support of numerous domestic and international investors, including Group, Xiaomi Group, IDG Capital, Morningside Capital, GGV Capital, Primavera Capital, Hillhouse Capital, and Sequoia China.</p><p><a href=\"https://laohu8.com/S/00017\">New World development</a>Executive Vice Chairman and CEO Andrew Cheng said, “I have always been optimistic about the development of intelligent vehicles, which have unlimited market potential. Since its inception, XPeng Motors has always adhered to independent research and development. It is the only company in mainland China that can deeply integrate its own software and hardware and achieve mass production. Its product development includes innovative technologies such as autonomous driving and advanced voice interaction, bringing more consumers an innovative driving experience that combines safety and a sense of the future. This also prompted me to invest in XPeng Motors.”</p><p>With the support of numerous investors, coupled with the fact that a successful listing in Hong Kong could become a milestone in the history of China's intelligent electric vehicle development, XPeng has even more room for imagination in the future.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/4eGXa4d8XiymQjk2xY3Q8w\">锌财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8a7cf240033f083a329240e6179df017","relate_stocks":{"XPEV":"小鹏集团","09868":"小鹏集团-W"},"source_url":"https://mp.weixin.qq.com/s/4eGXa4d8XiymQjk2xY3Q8w","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193078182","content_text":"距离美国上市不到一年，小鹏汽车又有了大动作。6月24日，据港交所官网显示，小鹏汽车已通过港交所聆讯，将冲刺港交所智能电动车第一股，同时，小鹏汽车也将成为今年首个美国、香港两地双重主要上市中概股。\n一旦上市成功，短期内并不追求毛利的小鹏汽车希望将筹集到的资金更多的用在自动驾驶、智能操作系统等科技创新的研发上。\n同时，在国家政策推动下，以及众多科技巨头的入局，智能汽车即将进入快速增长期，小鹏汽车的成功上市，或将成为中国智能电动汽车发展史的一个里程碑事件。\n将成为首个新势力港股\n据外媒报道，中国智能电动汽车公司小鹏汽车国际配售部分已录得足额认购。据富途数据显示，小鹏汽车公开发售暂募资9.97亿港元，超购0.3倍。\n6月25日，小鹏汽车发布公告称，公司于6月25日至6月30日招股；拟全球发售8500万股股份，其中香港发售股份425万股，国际发售股份8075万股，另有15%超额配股权；每股发行价不超过180港元，每手买卖单位100股，入场费约18181.39港元；预期股份将于7月7日于联交所主板挂牌上市。\n据港交所消息显示，摩根大通和美银为此次联席保荐人，这些投行曾在去年8月帮助小鹏汽车完成赴美上市事宜。\n2020年8月，小鹏汽车以15美元/股的发行价在美国上市，其首日开盘价为23.1美元，较发行价上涨幅度超过55%。上市之初，小鹏汽车将目标定为成为一家千亿美元市值的公司，其股价也确实按照该公司的预期发展，2020年11月底，小鹏汽车一度涨至74美元。\n\n此次据港交所的规定，公司赴港二次上市需要满足一些“硬性”要求。首先，公司所处行业要求是创新产业；其次，公司必须在另一家符合条件的交易所至少有两年的良好监管合规记录；第三，市值至少超过400亿港元，或者市值超过100亿港元且收入超过10亿港元。\n对于赴美上市还不到一年的小鹏汽车而言，此次香港上市属于双重主要上市行为，为此该公司需要受到美国证券交易委员会(SEC)和香港证券及期货事务监察委员会(SFC)的共同监管。据悉，双重主要上市是比二次上市更严格的上市过程，在二次上市中，第一上市地点的监管机构拥有主要监管权。\n截止目前，已有包括京东、网易等10多家中概股在香港二次上市。在造车方面，此前也曾出现过小鹏、蔚来、理想国内三大造车新势力在香港上市的传闻。\n今年3月，路透社曾援引知情人士消息称，蔚来已联系瑞士信贷和摩根士丹利，将在港股发行股票，未来还将筹划登陆A股市场。而理想则与高盛和瑞银进行合作，预计在今年第三季度完成香港上市，募资10亿-20亿美元。同时，理想汽车创始人李想曾表示，理想不介意任何一种方式的融资，包括二级市场、银行贷款和发债等。\n此次小鹏汽车率先通过港交所聆讯，无疑跑在了其他两家造车新势力的前面。\n艾媒咨询CEO张毅告诉锌财经，在香港上市，可以分摊美国资本市场尤其是二级市场不确定性的风险；同时，双重主要上市对企业融资会有很大的帮助，而双市场可以直接提升小鹏汽车在国内外市场的影响，有助于扩大品牌营销。\n加大研发投入打好“科技创新牌”\n企业上市，无疑可以筹集到更多的资金。而资金的用法，才是真正可以影响到企业发展的重中之重。\n有消息称，此次小鹏汽车融资规模最多为20亿美元。对此，该公司不予置评。但据其招股书显示，将所得款项净额中约45%用于拓展公司的产品组合及开发更先进的技术；所得款项净额中约35%用于通过提升公司的品牌认知度，借助全渠道营销策略获取客户，以及在国内及国际上增加销售及服务接触点，来加速公司的业务扩张；所得款项净额中约10%用于提升生产能力，包括扩大产能、升级生产设施和开发生产技术；所得款项净额中约10%用于一般公司用途，包括用作运营资金。\n从中可见，研发已成为小鹏汽车战略布局的重中之重。事实上，作为一家技术驱动型公司，小鹏汽车已投入大量资金用于自主研发技术，希望凭借差异化的产品和服务推动公司的快速发展，乃至推动智能电动汽车转型。\n据小鹏汽车此前发布的财报显示，在2018-2020年，小鹏汽车营收分别为970万元、23.21亿元和58.44亿元。今年第一季度，其营收29.51亿元，较去年同期增长616.1%。\n研发开支方面，在2018年-2020年及今年第一季度，小鹏汽车研发开支分别为10.51亿元、20.70亿元、17.26亿元及5.35亿元。在2019年、2020年及今年第一季度，研发开支分别占总收入的89.2%、29.5%及18.1%。\n小鹏汽车认为，只有凭借对研发的持续投资，才能保持在智能电动汽车领域的领先地位。公司将专注于技术创新，不断升级自动驾驶、智能操作系统以及核心车辆系统。\n在技术创新方面，小鹏汽车是目前国内唯一一家自主开发全栈式自动驾驶技术，并在量产汽车上应用该软件的汽车公司。其最新自主研发的自动驾驶系统XPILOT 3.0是目前市场上所售汽车中已采用的最高水平自动驾驶技术。\n不可否认的是，在追求技术创新的路上也会遇到因高额研发成本带来的亏损问题，对此，小鹏汽车有着自己看法：“从长期来看，一个科技型的汽车企业应该是有很高毛利的企业。从短中期来看，短期有太高的毛利是错误的。我们会坚持走科技路线，走好自己的道路，做好自己的定位。”\n“企业在市场培育和产品打造上会经历一些战略性阶段，只要资金不出现问题其余都是其次的。”在张毅看来，“在小鹏汽车的融资能力是不用怀疑的。”\n实际上，目前小鹏汽车资金也较为充足。截至今年3月31日，公司拥有现金、现金等价物、受限资金、短期存款、短期投资和长期存款为共计人民币362亿元。小鹏预计，第二季度公司车辆交付量为1.55万至1.6万辆，同比增长380.2％至395.7％；总收入在人民币34亿元至35亿元之间，同比增长475.5％至492.4％。\n深耕智能汽车引众多资本加持\n时下，在全球范围内，电动汽车替代燃油车已是大势所趋，各国政策都利好电动汽车发展。\n在国内，2020年10月，国务院公布了《新能源汽车产业发展规划(2021–2035)》（「新能源汽车产业发展规划」），指出发展新能源汽车是中国转型为汽车强国的必由之路。国务院已经设定到2025年将新能源汽车在中国乘用车市场的渗透率提高到20%的目标，预期纯电动汽车会成为新销售车辆中新能源汽车的主流。\n值得注意的是，我国政府在新能源汽车产业发展规划中提出了智能互联汽车的发展愿景，计划在2025年前实现特定场景下高级别自动驾驶的大规模商业化，同时还加强互联车辆关键零部件和系统的研发。\n在前不久中国汽车工业协会主办的第11届中国汽车论坛上，小鹏汽车嵌入式高级总监余鹏表示，智能手机之后，我们非常有理由相信，下一代全新的智能软硬件核心载体，一定会是智能汽车。\n目前，包括百度、小米、滴滴、360等众多科技巨头开始布局智能汽车领域，软件已经在逐渐成为智能汽车的全新制高点。\n据麦肯锡的调查显示，汽车软件和电气电子元件（E/E）市场预计复合年增长率为 7%，该市场将在2030 年增长至4690 亿美元。\n有业内专家预计，到2025年，在中国一线城市智能汽车+电动汽车在新车中占比将达60%，其中，智能汽车占到50%以上。预计到2028年，智能汽车会进入到急速的跳跃时期。\n据锌财经了解到，小鹏汽车很早之前就开始发力智能电动汽车。截至2021年3月31日，智能电动汽车已交付量13340辆。今年4月，小鹏汽车发布了P5，这是其第三款智能电动汽车，该公司计划在今年第四季度开始批量交付P5。\n除了P5，小鹏汽车还计划在今年第三季度末交付G3的中期改款版G3i，并计划在2022年推出旗下第四款智能电动汽车，这是一款具备高级自动驾驶系统和加强版核心车辆系统的SUV。\n在锌财经看来，车辆交付的加速，意味着小鹏汽车将正式渡过产量爬坡期，迎来新一轮的高速增长。此外，特别值得一提的是，截至今年第一季度，小鹏品牌超充站172座，覆盖60个城市。计划至今年年底建设超过500个自有品牌超级充电站。\n软件方面，小鹏汽车目前是中国唯一一家实现全栈自研的自动辅助驾驶软件单独收费的汽车企业，总计确认收入8000万，在2021年第一季度，软件收入为3000万元。未来，软件业务收入的商业模式在智能汽车领域会有明显的利好趋势。\n从今年第一季度的数据看，软件收入占了小鹏汽车总收入的2.5%。而该部分收入的计入也提升了毛利率。随着交付量的增加，接下来软件对公司的营收及毛利贡献度将持续提升。小鹏汽车预计，在今年第二季度软件收入的渗透率会比第一季度提高1%。\n如此不遗余力的布局智能电动汽车市场，也换来更多资本的青睐。公开资料显示，小鹏汽车自2015年成立以来，先后获得了阿里巴巴集团、小米集团、IDG资本、晨兴资本、GGV纪源资本、春华资本、高瓴资本、 红杉中国等国内外众多投资者的支持。\n新世界发展执行副主席兼行政总裁郑志刚表示：“我一直看好智能汽车发展，当中的市场潜力无限，而小鹏汽车从创立至今，一直坚持自主研发，是中国内地唯一一家能够将自家研发的软件、硬件深度整合，并且做到量产落地的企业；当中的产品研发包括自动驾驶、高级语音交互等创新技术，为更多消费者带来安全性与未来感兼备的创新驾驶体验，这也促成我投资小鹏汽车。”\n在众多资本的支持下，再加上此次若成功在香港上市，或将成为中国智能电动汽车发展史的一个里程碑事件，小鹏汽车未来还会更多的想象空间。","news_type":1,"symbols_score_info":{"09868":0.9,"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":3630,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167885573,"gmtCreate":1624259042192,"gmtModify":1703831787554,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167885573","repostId":"2145085633","repostType":4,"repost":{"id":"2145085633","kind":"news","pubTimestamp":1624258081,"share":"https://ttm.financial/m/news/2145085633?lang=en_US&edition=fundamental","pubTime":"2021-06-21 14:48","market":"us","language":"zh","title":"Baidu manufactures cars, while Geely \"works for them\".","url":"https://stock-news.laohu8.com/highlight/detail?id=2145085633","media":"互联网风云榜","summary":"在互联网造车浪潮中，百度与吉利合资成立的“集度汽车”可谓备受关注。近日，传出相关消息，百度在北京独资成立“集度科技”，另一边吉利汽车研究院有限公司也公开了一项自动驾驶技术领域专利。\n在集度汽车尚未量产","content":"<p>In the wave of internet-based car manufacturing<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Jidu Auto, a joint venture with Geely, has attracted much attention. Recently, news broke that Baidu has established a wholly-owned subsidiary, \"Jidu Technology,\" in Beijing. On the other hand...<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>The research institute company has also published a patent in the field of autonomous driving technology.</p><p>With Jidu Auto not yet in mass production and available for sale, Baidu and Geely seem to have already begun to make their own plans. What kind of development will Jidu Auto have now and in the future?</p><p><b>A desperate gamble to bet on the degree</b></p><p>As one of the three giants of BAT (Baidu, Alibaba, Tencent) in the internet era, Baidu partnered with Alibaba in the mobile internet era.<a href=\"https://laohu8.com/S/00700\">Tencent</a>Compared to its slightly inferior presence, Baidu has found a breakthrough in the next wave of technological advancements amidst the crisis—AI (Artificial Intelligence).<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Baidu's emphasis on AI can be seen from a keynote speech by Lu Qi, then president and COO of Baidu Group. Lu Qi believed that \"AI is a historic opportunity for China, and the depth and breadth of AI's impact on society are unprecedented.\"</p><p>As a result, Baidu proclaimed the slogan \"All in AI\".</p><p>Over the past decade, Baidu's annual R&D investment has accounted for more than 15% of its revenue, with AI technology being a key focus. In 2020...<a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>At the forum, Baidu founder, chairman and CEO Robin Li publicly expressed his attitude towards AI, believing that Baidu's investment in AI is long-term and continuous. AI has lived up to Baidu's expectations, making significant contributions to Baidu's technological innovation in areas such as algorithms, voice interaction, and autonomous driving. It has also added leverage to Baidu, which has been gradually falling behind among the BAT giants.</p><p>Among the technologies derived from AI, autonomous driving technology is a major observation point for judging the strength of a new energy vehicle company in the currently popular new energy vehicle manufacturing industry. Moreover, it coincides with the policy trend of the times, and autonomous driving technology is about to be fully implemented and commercialized. Baidu, which has been dedicated to AI research for many years, has already taken the lead internationally in autonomous driving technology. Some even believe that when the era of autonomous driving and vehicle-road cooperation arrives, Baidu's technology will become the standard for the construction of vehicle-road cooperation systems in China.</p><p>Having mastered key technologies for new energy vehicle manufacturing, Baidu, recalling its past lagging behind in the mobile internet era and missing the migration of PC devices to mobile phones, did not want to miss the construction of the next ecosystem. With its leading position in autonomous driving technology, Baidu decided to enter the car manufacturing market, becoming the only one among the three BAT giants to personally enter the car manufacturing field.</p><p>Baidu, which has personally entered the car manufacturing field, may be the one among the three giants of BAT (Baidu, Alibaba, Tencent) with the greatest degree of freedom and the best understanding of car manufacturing. However, in terms of the timing of its entry and the distance it has traveled, it cannot be said to be the one that has traveled the fastest and farthest.</p><p>Tencent<a href=\"https://laohu8.com/S/NIO\">Nio</a>The automaker holds 10% of the shares, making it the second largest shareholder of Nio. The largest shareholder is Li Bin, the founder of Nio. Baidu is also on the list of shareholders of Nio, but it is understood that Baidu currently only holds about 1% of the shares of Nio.</p><p>Alibaba is<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>The second largest shareholder, holding 12% of the shares, is He Xiaopeng, founder of XPeng Motors. Meanwhile, Alibaba and...<a href=\"https://laohu8.com/S/600104\">SAIC Motor</a>There are also related collaborations in the automotive sector.</p><p>Nio, XPeng, and Li Auto, as leading emerging forces in China's new energy vehicle industry, are undoubtedly powerful. They have all successfully listed on the US stock market, with market capitalizations reaching tens of billions of US dollars. However, as early as 2016, Nio, XPeng, and Li Auto all contacted Baidu in hopes of obtaining funding, but none of them reached a large-scale cooperation agreement. The reason for this may be Baidu's emphasis on autonomous driving and automotive intelligence.</p><p>Baidu's car manufacturing plan may become an \"intelligent transportation plan\". As mentioned earlier, the reason why Baidu is concerned about autonomous driving and intelligence may be because it has missed the lesson of the \"PC → mobile phone\" device replacement. In the layout of intelligent cars, a large mobile device that can be regarded as an ecosystem aggregation terminal, Baidu does not want to give up, but instead plans to get involved and do it itself.</p><p>Thus, Jidu Auto was born. Although the equity structure of Jidu clearly shows that the company's other major shareholder, Geely, holds more than 40% of the shares, Baidu, which holds as much as 55% of the shares, has absolute voting rights. Geely's status at Jidu is like that of a \"worker\" responsible only for production and manufacturing. Behind Baidu's absolute voting rights in Jidu, a question has also been exposed: can Geely be willing to just be an \"employee\"?</p><p><b>Geely: Earn other people's money and create your own dreams</b></p><p>Although Geely has become the top-selling domestic automaker thanks to the success of its gasoline-powered vehicles, it still has a blue dream.</p><p>In 2015, Geely launched the \"Blue Geely Action,\" hoping to achieve the goal of new energy vehicles accounting for more than 90% of total sales by 2020. Five years later, Geely's new energy vehicle sales in 2020 were 68,142 units, accounting for only 5.16% of total sales. Tracing the reasons for Geely's failure, the \"gasoline-to-electric\" route, which remained unchanged, may be the biggest reason.</p><p>Geely's main electric vehicle sales force, the \"Emgrand EV\" series, is derived from the \"gasoline-to-electric\" conversion of the gasoline-powered Emgrand. Although the EV series has changed the power supply from gasoline to electric, the overall structure of the vehicle has not been completely redesigned, and the exterior and most of the structure still use the gasoline model. Electric and gasoline models are difficult to distinguish in appearance, and in terms of pricing, the electric version is nearly half as expensive as the gasoline version, with the gasoline version priced between 69,800 and 100,800 yuan, and the electric version priced between 193,300 and 238,300 yuan.</p><p>For consumers, it is difficult to pay the extra premium for the Geely EV, which has only changed its powertrain but not significantly improved its vehicle configuration. Geely, which is in a new energy dilemma, urgently needs to abandon the \"gasoline-to-electric\" route and increase investment in the research and development of true new energy vehicles.</p><p>This reveals the reasons why Baidu chose Geely as its partner. Along with Baidu's collaboration with Geely in car manufacturing, news broke of the launch of Geely's \"SEA Architecture\" (hereinafter referred to as SEA).</p><p>SEA is a pure electric vehicle production platform developed by Geely with an investment of 18 billion yuan and four years. It can realize the production of models with a wheelbase of 1800mm-3300mm, covering all sizes from A-class to E-class cars. Judging from Baidu's bet on Geely in AI-powered car manufacturing, the SEA production platform has a leading advantage. The reason Baidu chose to partner with Geely to manufacture cars may be precisely because of the strength of the SEA platform.</p><p>Leveraging its SEA platform, Geely also launched a new pure electric model, the \"Jike 001,\" at the beginning of the year. This youthful shooting model features frameless doors, a 0-100 km/h acceleration time of 3.8 seconds, a range of 712km, a vehicle intelligence system, and Yamaha's customized speakers, catering to essential needs.<a href=\"https://laohu8.com/S/DLX\">luxury</a>With its complete configuration, Geely seems to have understood the rules of the new energy vehicle industry. However, facing the huge R&D costs of the SEA platform and new models, Geely, with its tight cash flow, urgently needs to recover its losses. The SEA platform, which cost 18 billion yuan, has become Geely's money-printing machine and working machine.</p><p>As the supply chain for new energy vehicle manufacturing in China gradually improves, internet companies are also entering the market, which is related to the issue of automobile production qualifications. Internet companies often start with contract manufacturing. Nio vehicles are manufactured by JAC, while XPeng vehicles were previously manufactured by...<a href=\"https://laohu8.com/S/000572\">Haima Auotmobile</a>The collection of OEM fees has given Geely the possibility of recovering its losses. Taking NIO and JAC as an example, by the end of 2019, Nio had paid JAC 604 million yuan in OEM fees, which included manufacturing costs and loss compensation. Previously, Geely and Foxconn established a joint venture to provide OEM production and customization consulting services to global automotive and mobility companies.</p><p>Whether in collaborations with Foxconn or Baidu, Geely's role has always been focused on production. Leveraging the productivity of the SEA platform to recoup revenue and support its own R&D investment in new energy vehicles seems to have become Geely's current strategic layout. According to Tianyancha, Geely released a technology patent related to autonomous driving on June 8. Geely, which is making money while developing autonomous driving technology, is clearly not content to just be an employee and is pursuing its dreams for the future.</p><p><b>Jidu's hidden concerns extend beyond Geely's \"multi-tasking\" approach.</b></p><p>Geely's \"cunning rabbit with three burrows\" approach of dividing its eggs into different baskets is ultimately to achieve its own success. Baidu's wholly-owned establishment of \"Jidu Technology\" to provide intelligent technologies such as autonomous driving to Jidu Auto as a technology supplier is \"one must be wary of others\". Baidu and Geely, each with their own ideas, seem unwilling to let their efforts become someone else's dowry, but the rapidly changing new energy market is long gone.</p><p>Previously, competition in the new energy vehicle sector revolved around two core areas: range and intelligence (including autonomous driving, intelligent cockpits, and vehicle networking). Currently, the new energy vehicle industry has the highest market capitalization.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>For example, CEO Elon Musk once said that autonomous driving could enable Tesla's market capitalization to reach $500 billion, which is a fundamental driving force for Tesla.</p><p>Admittedly, Jidu Auto relies on Baidu's autonomous driving technology and Geely's manufacturing capabilities to complement its core competitiveness, but there are many unknowns in this nascent industry.</p><p>Taking Nio, a leading domestic emerging electric vehicle manufacturer, as an example, Nio currently has a market capitalization ahead of emerging players such as Li Auto and XPeng, and its sales in Q1 2021 were also in a leading position. It is Tesla's strongest competitor at present. In addition to its sufficient product capabilities, Nio' advantage lies in its comprehensive service capabilities. This may also be the third competitive advantage extended after range and intelligence in the new energy vehicle market.</p><p>Why is it said that service capabilities extend from battery life and intelligence? Continuing to take NIO as an example, Nio is the only brand in the current new energy vehicle market that provides battery swapping stations for car owners. The essence of battery swapping service is \"energy replenishment,\" which solves the essential problem of electric vehicle range. Currently, the second-generation battery swapping stations updated in Nio are basically on par with gas stations in terms of replenishment time. In the current context of limited electric vehicle range and charging speed, battery swapping, a relatively efficient energy replenishment method, provides users with differentiated product competitiveness when choosing to purchase vehicles. In other words, it relies on the support of services to increase sales.</p><p>Looking back at Jidu Auto, as autonomous driving technology and supply chain gradually mature and become open-source in the future, while Jidu has no shortcomings, it also lacks distinctive features. Nio has a mature service foundation, XPeng has intelligent and autonomous driving and is currently in mass production, and Li Auto has range-extended driving to solve range anxiety. Will Jidu bring surprises to consumers when it launches its mass-produced models, or will it fall into homogeneous competition?</p><p>But recalling what Jidu CEO Xia Yiping said at a media briefing: \"There are no competitors,\" perhaps we should believe Baidu.</p>","source":"lsy1601291937209","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>Baidu manufactures cars, while Geely \"works for them\".</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBaidu manufactures cars, while Geely \"works for them\".\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">互联网风云榜</strong><span class=\"h-time small\">2021-06-21 14:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the wave of internet-based car manufacturing<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Jidu Auto, a joint venture with Geely, has attracted much attention. Recently, news broke that Baidu has established a wholly-owned subsidiary, \"Jidu Technology,\" in Beijing. On the other hand...<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>The research institute company has also published a patent in the field of autonomous driving technology.</p><p>With Jidu Auto not yet in mass production and available for sale, Baidu and Geely seem to have already begun to make their own plans. What kind of development will Jidu Auto have now and in the future?</p><p><b>A desperate gamble to bet on the degree</b></p><p>As one of the three giants of BAT (Baidu, Alibaba, Tencent) in the internet era, Baidu partnered with Alibaba in the mobile internet era.<a href=\"https://laohu8.com/S/00700\">Tencent</a>Compared to its slightly inferior presence, Baidu has found a breakthrough in the next wave of technological advancements amidst the crisis—AI (Artificial Intelligence).<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Baidu's emphasis on AI can be seen from a keynote speech by Lu Qi, then president and COO of Baidu Group. Lu Qi believed that \"AI is a historic opportunity for China, and the depth and breadth of AI's impact on society are unprecedented.\"</p><p>As a result, Baidu proclaimed the slogan \"All in AI\".</p><p>Over the past decade, Baidu's annual R&D investment has accounted for more than 15% of its revenue, with AI technology being a key focus. In 2020...<a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>At the forum, Baidu founder, chairman and CEO Robin Li publicly expressed his attitude towards AI, believing that Baidu's investment in AI is long-term and continuous. AI has lived up to Baidu's expectations, making significant contributions to Baidu's technological innovation in areas such as algorithms, voice interaction, and autonomous driving. It has also added leverage to Baidu, which has been gradually falling behind among the BAT giants.</p><p>Among the technologies derived from AI, autonomous driving technology is a major observation point for judging the strength of a new energy vehicle company in the currently popular new energy vehicle manufacturing industry. Moreover, it coincides with the policy trend of the times, and autonomous driving technology is about to be fully implemented and commercialized. Baidu, which has been dedicated to AI research for many years, has already taken the lead internationally in autonomous driving technology. Some even believe that when the era of autonomous driving and vehicle-road cooperation arrives, Baidu's technology will become the standard for the construction of vehicle-road cooperation systems in China.</p><p>Having mastered key technologies for new energy vehicle manufacturing, Baidu, recalling its past lagging behind in the mobile internet era and missing the migration of PC devices to mobile phones, did not want to miss the construction of the next ecosystem. With its leading position in autonomous driving technology, Baidu decided to enter the car manufacturing market, becoming the only one among the three BAT giants to personally enter the car manufacturing field.</p><p>Baidu, which has personally entered the car manufacturing field, may be the one among the three giants of BAT (Baidu, Alibaba, Tencent) with the greatest degree of freedom and the best understanding of car manufacturing. However, in terms of the timing of its entry and the distance it has traveled, it cannot be said to be the one that has traveled the fastest and farthest.</p><p>Tencent<a href=\"https://laohu8.com/S/NIO\">Nio</a>The automaker holds 10% of the shares, making it the second largest shareholder of Nio. The largest shareholder is Li Bin, the founder of Nio. Baidu is also on the list of shareholders of Nio, but it is understood that Baidu currently only holds about 1% of the shares of Nio.</p><p>Alibaba is<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>The second largest shareholder, holding 12% of the shares, is He Xiaopeng, founder of XPeng Motors. Meanwhile, Alibaba and...<a href=\"https://laohu8.com/S/600104\">SAIC Motor</a>There are also related collaborations in the automotive sector.</p><p>Nio, XPeng, and Li Auto, as leading emerging forces in China's new energy vehicle industry, are undoubtedly powerful. They have all successfully listed on the US stock market, with market capitalizations reaching tens of billions of US dollars. However, as early as 2016, Nio, XPeng, and Li Auto all contacted Baidu in hopes of obtaining funding, but none of them reached a large-scale cooperation agreement. The reason for this may be Baidu's emphasis on autonomous driving and automotive intelligence.</p><p>Baidu's car manufacturing plan may become an \"intelligent transportation plan\". As mentioned earlier, the reason why Baidu is concerned about autonomous driving and intelligence may be because it has missed the lesson of the \"PC → mobile phone\" device replacement. In the layout of intelligent cars, a large mobile device that can be regarded as an ecosystem aggregation terminal, Baidu does not want to give up, but instead plans to get involved and do it itself.</p><p>Thus, Jidu Auto was born. Although the equity structure of Jidu clearly shows that the company's other major shareholder, Geely, holds more than 40% of the shares, Baidu, which holds as much as 55% of the shares, has absolute voting rights. Geely's status at Jidu is like that of a \"worker\" responsible only for production and manufacturing. Behind Baidu's absolute voting rights in Jidu, a question has also been exposed: can Geely be willing to just be an \"employee\"?</p><p><b>Geely: Earn other people's money and create your own dreams</b></p><p>Although Geely has become the top-selling domestic automaker thanks to the success of its gasoline-powered vehicles, it still has a blue dream.</p><p>In 2015, Geely launched the \"Blue Geely Action,\" hoping to achieve the goal of new energy vehicles accounting for more than 90% of total sales by 2020. Five years later, Geely's new energy vehicle sales in 2020 were 68,142 units, accounting for only 5.16% of total sales. Tracing the reasons for Geely's failure, the \"gasoline-to-electric\" route, which remained unchanged, may be the biggest reason.</p><p>Geely's main electric vehicle sales force, the \"Emgrand EV\" series, is derived from the \"gasoline-to-electric\" conversion of the gasoline-powered Emgrand. Although the EV series has changed the power supply from gasoline to electric, the overall structure of the vehicle has not been completely redesigned, and the exterior and most of the structure still use the gasoline model. Electric and gasoline models are difficult to distinguish in appearance, and in terms of pricing, the electric version is nearly half as expensive as the gasoline version, with the gasoline version priced between 69,800 and 100,800 yuan, and the electric version priced between 193,300 and 238,300 yuan.</p><p>For consumers, it is difficult to pay the extra premium for the Geely EV, which has only changed its powertrain but not significantly improved its vehicle configuration. Geely, which is in a new energy dilemma, urgently needs to abandon the \"gasoline-to-electric\" route and increase investment in the research and development of true new energy vehicles.</p><p>This reveals the reasons why Baidu chose Geely as its partner. Along with Baidu's collaboration with Geely in car manufacturing, news broke of the launch of Geely's \"SEA Architecture\" (hereinafter referred to as SEA).</p><p>SEA is a pure electric vehicle production platform developed by Geely with an investment of 18 billion yuan and four years. It can realize the production of models with a wheelbase of 1800mm-3300mm, covering all sizes from A-class to E-class cars. Judging from Baidu's bet on Geely in AI-powered car manufacturing, the SEA production platform has a leading advantage. The reason Baidu chose to partner with Geely to manufacture cars may be precisely because of the strength of the SEA platform.</p><p>Leveraging its SEA platform, Geely also launched a new pure electric model, the \"Jike 001,\" at the beginning of the year. This youthful shooting model features frameless doors, a 0-100 km/h acceleration time of 3.8 seconds, a range of 712km, a vehicle intelligence system, and Yamaha's customized speakers, catering to essential needs.<a href=\"https://laohu8.com/S/DLX\">luxury</a>With its complete configuration, Geely seems to have understood the rules of the new energy vehicle industry. However, facing the huge R&D costs of the SEA platform and new models, Geely, with its tight cash flow, urgently needs to recover its losses. The SEA platform, which cost 18 billion yuan, has become Geely's money-printing machine and working machine.</p><p>As the supply chain for new energy vehicle manufacturing in China gradually improves, internet companies are also entering the market, which is related to the issue of automobile production qualifications. Internet companies often start with contract manufacturing. Nio vehicles are manufactured by JAC, while XPeng vehicles were previously manufactured by...<a href=\"https://laohu8.com/S/000572\">Haima Auotmobile</a>The collection of OEM fees has given Geely the possibility of recovering its losses. Taking NIO and JAC as an example, by the end of 2019, Nio had paid JAC 604 million yuan in OEM fees, which included manufacturing costs and loss compensation. Previously, Geely and Foxconn established a joint venture to provide OEM production and customization consulting services to global automotive and mobility companies.</p><p>Whether in collaborations with Foxconn or Baidu, Geely's role has always been focused on production. Leveraging the productivity of the SEA platform to recoup revenue and support its own R&D investment in new energy vehicles seems to have become Geely's current strategic layout. According to Tianyancha, Geely released a technology patent related to autonomous driving on June 8. Geely, which is making money while developing autonomous driving technology, is clearly not content to just be an employee and is pursuing its dreams for the future.</p><p><b>Jidu's hidden concerns extend beyond Geely's \"multi-tasking\" approach.</b></p><p>Geely's \"cunning rabbit with three burrows\" approach of dividing its eggs into different baskets is ultimately to achieve its own success. Baidu's wholly-owned establishment of \"Jidu Technology\" to provide intelligent technologies such as autonomous driving to Jidu Auto as a technology supplier is \"one must be wary of others\". Baidu and Geely, each with their own ideas, seem unwilling to let their efforts become someone else's dowry, but the rapidly changing new energy market is long gone.</p><p>Previously, competition in the new energy vehicle sector revolved around two core areas: range and intelligence (including autonomous driving, intelligent cockpits, and vehicle networking). Currently, the new energy vehicle industry has the highest market capitalization.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>For example, CEO Elon Musk once said that autonomous driving could enable Tesla's market capitalization to reach $500 billion, which is a fundamental driving force for Tesla.</p><p>Admittedly, Jidu Auto relies on Baidu's autonomous driving technology and Geely's manufacturing capabilities to complement its core competitiveness, but there are many unknowns in this nascent industry.</p><p>Taking Nio, a leading domestic emerging electric vehicle manufacturer, as an example, Nio currently has a market capitalization ahead of emerging players such as Li Auto and XPeng, and its sales in Q1 2021 were also in a leading position. It is Tesla's strongest competitor at present. In addition to its sufficient product capabilities, Nio' advantage lies in its comprehensive service capabilities. This may also be the third competitive advantage extended after range and intelligence in the new energy vehicle market.</p><p>Why is it said that service capabilities extend from battery life and intelligence? Continuing to take NIO as an example, Nio is the only brand in the current new energy vehicle market that provides battery swapping stations for car owners. The essence of battery swapping service is \"energy replenishment,\" which solves the essential problem of electric vehicle range. Currently, the second-generation battery swapping stations updated in Nio are basically on par with gas stations in terms of replenishment time. In the current context of limited electric vehicle range and charging speed, battery swapping, a relatively efficient energy replenishment method, provides users with differentiated product competitiveness when choosing to purchase vehicles. In other words, it relies on the support of services to increase sales.</p><p>Looking back at Jidu Auto, as autonomous driving technology and supply chain gradually mature and become open-source in the future, while Jidu has no shortcomings, it also lacks distinctive features. Nio has a mature service foundation, XPeng has intelligent and autonomous driving and is currently in mass production, and Li Auto has range-extended driving to solve range anxiety. Will Jidu bring surprises to consumers when it launches its mass-produced models, or will it fall into homogeneous competition?</p><p>But recalling what Jidu CEO Xia Yiping said at a media briefing: \"There are no competitors,\" perhaps we should believe Baidu.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021062114383077ea37af&s=b\">互联网风云榜</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3d671f82579a0f7a86039a21fe8fc002","relate_stocks":{"09888":"百度集团-W","00175":"吉利汽车","BIDU":"百度"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021062114383077ea37af&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145085633","content_text":"在互联网造车浪潮中，百度与吉利合资成立的“集度汽车”可谓备受关注。近日，传出相关消息，百度在北京独资成立“集度科技”，另一边吉利汽车研究院有限公司也公开了一项自动驾驶技术领域专利。\n在集度汽车尚未量产发售的当下，百度与吉利似乎已经开始打起了各自的小算盘，集度汽车的现在与未来会有怎样的发展呢？\n孤注一掷押注集度\n作为互联网时代的BAT三巨头之一，百度在移动互联网时代与阿里腾讯相比存在感稍有逊色，危机之下百度为自己在下一波科技浪潮中寻找了一个突破口——AI（人工智能），百度对于AI的重视，从时任百度集团总裁兼COO陆奇的一次主题演讲中可以发现，陆奇认为：“AI是中国的历史性机遇，AI对社会的影响深度和广度都是空前的。”\n由此，百度喊出了“All in AI”的口号。\n过去的十年百度每年的研发投入占营收的15%以上，其中AI技术是百度的重点布局，2020中关村论坛上百度创始人、董事长兼CEO李彦宏曾公开表示对于AI的态度，他认为百度对AI的投入是长期的、持续的。AI不负百度重望，在算法、语音交互、自动驾驶等领域为百度技术的革新贡献了重要力量，也为在BAT三巨头中逐渐掉队的百度再次增添了筹码。\n而在AI衍生出的相关技术中，自动驾驶技术在当下热门的新能源造车行业中，是评判一家新能源车企是否具有实力的主要观察点，并且又恰逢政策的时代趋势，自动驾驶技术即将完全落地商用。潜心钻研AI多年的百度，在自动驾驶技术上已经走在了国际前沿，甚至有声音认为，在自动驾驶与车路协同时代到来时，百度的技术将成为中国车路协同系统建设的制定标准。\n掌握新能源造车关键技术的百度，回忆起曾经在移动互联网时代的掉队，错过了PC设备向手机迁移的百度不想再错过下一个生态的建设，凭借在自动驾驶技术的领先，百度决定入局造车，成为了BAT三巨头中目前亲自下场造车的独一家。\n亲自下场造车的百度，可能是BAT三巨头中对造车这件事自由度最高和最了解的那个，但在入局时间和跑出去的距离上，称不上是跑的最快最远的那个。\n腾讯对蔚来汽车持股10%，是蔚来的第二大股东，第一大股东为蔚来创始人李斌，在蔚来的股东名单中也有百度的身影，但据了解目前百度只持有蔚来1%左右的股份。\n阿里则是小鹏汽车的第二大股东，持股比例12%，第一大股东为小鹏汽车创始人何小鹏，同时，阿里与上汽集团也在汽车领域有相关合作。\n蔚来、小鹏、理想作为国内新能源汽车的头部新势力，毫无疑问是具有实力的，如今都已成功登陆美股上市，市值均达到了百亿美元级别，但最早在2016年，蔚来、小鹏、理想都曾与百度接触希望拿到资金，但均未达成大规模的合作，究其原因或许是百度对自动驾驶和汽车智能的重视。\n百度的造车计划或许可以成为“智能交通计划”，前文已经提到百度之所以在意自动驾驶和智能的原因，或许是因为已经错过了“PC→手机”的设备更迭的教训，在智能汽车这个可以被看做一个生态集合终端的大型移动设备的布局上，百度不想拱手相让，而是打算自己下场亲自来做。\n由此，集度汽车诞生，虽然在集度的股权构成中，可以清晰的看到公司另一大股东吉利持股超过40%，但持股高达55%的百度拥有绝对投票权，吉利在集度的身份像是一个只负责生产制造的“工人”，百度对集度拥有绝对投票权的背后也暴露了一个问题，吉利能甘心只做一个“打工仔”吗？\n吉利：赚别人的钱，造自己的梦\n虽然凭借燃油车的成功，吉利已经成为了自主车企的销量王，但吉利依然有着一个蓝色的梦想。\n2015年吉利发布“蓝色吉利行动”，希望在2020年达成新能源汽车占总销量90%以上的目标。五年过去，吉利2020年新能源汽车销量为68142辆，仅占总销量的5.16%，追溯吉利失败的原因，换汤不换药的“油改电”路线或许是最大原因。\n吉利目前电动车销量的主力“帝豪EV”系列，就是由燃油车型帝豪“油改电”而来，EV系列虽然将动力的提供方式从燃油改为电动，但车身整体结构并未完全重新设计，外观以及大部分结构仍是沿用燃油车型。电动与燃油车型在外观上难以分辨，并且在定价上，电动版比燃油版却贵了接近一半，燃油版售价为6.98-10.08万元，电动版售价为19.33-23.83万元。\n对于消费者而言，面对只是动力方式发生改变，车辆配置却没有很大提升的帝豪EV，很难为多出的溢价买单，陷入新能源困境的吉利，亟需舍弃“油改电”的路线，在真正的新能源汽车研发上加大投入。\n由此，百度选择吉利作为合作伙伴的原因也浮出水面。随百度与吉利合作造车一起传出消息的是吉利“SEA浩瀚架构”（后简称SEA）的问世。\nSEA是吉利投入180亿元，花费四年时间研制的纯电车型生产平台，可实现轴距1800mm-3300mm的车型生产，从A级车到E级车全尺寸覆盖。从百度把AI造车的赌注压在吉利身上来看，SEA生产平台有着领先优势。百度选择与吉利合作造车的原因，或许正是因为SEA平台的强大。\n凭借SEA平台，吉利也在年初推出全新纯电车型“极氪001”，年轻的猎装车型加上无边框车门的外观，3.8秒的百公里加速加上712km的续航，车辆智能系统加上雅马哈的定制音箱，从刚需到豪华配置一应齐全，吉利似乎是搞懂了新能源汽车赛道的规则，但面对SEA平台与新车型巨大的研发成本支出，现金流紧绷的吉利亟需回血，耗费了180亿资金的SEA平台成了吉利的印钞机兼打工机器。\n当下国内新能源造车的供应链逐渐完善，互联网企业又纷纷入局造车，关系到汽车生产资质问题，互联网企业造车起步往往采用代工生产的方式，蔚来汽车由江淮代工，小鹏汽车此前是由海马汽车代工，代工费用的收取给了吉利回血的可能性，以蔚来江淮为例，截止2019年底，蔚来已向江淮支付6.04亿元的代工费用，其中包含制造费和亏损补偿费，此前吉利与富士康成立合资公司为全球汽车及出行企业提供代工生产及定制顾问服务。\n无论是在富士康还是百度的合作中，吉利所扮演的角色重点都在于生产，凭借SEA平台的生产力回血，反哺自家新能源车型的研发投入似乎成了吉利当下的战略布局。据天眼查显示，吉利在6月8日公开了一项自动驾驶相关技术专利，一边赚钱一边搞起自动驾驶研发的吉利，显然不甘心只做打工仔，而是逐梦未来。\n集度的隐忧不止吉利的“一心多用”\n吉利“狡兔三窟”把鸡蛋分在不同的篮子里终究是为了成就自己，百度独资成立“集度科技”以技术供应商的身份向集度汽车提供自动驾驶等智能相关技术是“防人之心不可无”。各怀心思的百度与吉利似乎都不想让自己的努力成了他人的嫁妆，但瞬息万变的新能源市场却早已不复当日。\n此前新能源汽车赛道的竞争围绕两个核心，一是续航，二是智能（其中包括自动驾驶、智能座舱、车联网等），以目前新能源汽车行业市值最高的特斯拉为例，其CEO埃隆·马斯克曾表示，自动驾驶可以让特斯拉市值达到5000亿美元，是特斯拉的一个基本驱动力。\n诚然，集度汽车依靠百度的自动驾驶技术，吉利的生产制造能力补全了核心竞争力，但在这个刚起步的新兴行业中，存在更多的是未知。\n以国内造车新势力中处于领跑地位的蔚来为例，蔚来目前市值领先于理想、小鹏等新势力，2021年Q1销量也处于领先地位，是特斯拉当下最有力的竞争者，蔚来领先的原因除产品力足够之外，优势在于完善的服务能力，这或许也是新能源汽车市场中，在续航与智能后延伸出的第三个竞争力。\n为什么说服务力是从续航与智能中延伸出的？继续以蔚来举例，蔚来是当下新能源汽车市场中唯一为车主配有换电站的品牌，换电这项服务的本质是“补能”，解决的是电动车续航的刚需问题，目前蔚来更新的二代换电站，在补能时间上基本与加油站持平，在电动车续航里程和充电速度有限的当下，换电这种相对高效的补能方式在用户选择购买车辆时，提供了差异化的产品竞争力，也就是依靠服务的加持促使销量的提升。\n重新回到集度汽车来看，未来自动驾驶技术与供应链逐渐成熟开源的情况下，集度虽然没有短板，但同样没有特点，蔚来有建设成熟的服务基础，小鹏有智能与自动驾驶并且当下已经量产，理想有增程式解决续航的焦虑问题，集度在量产车型推出时会给消费者带来惊喜，还是陷入同质化的竞争？\n但想起集度CEO夏一平在媒体沟通会上说的那句“没有竞品”，或许应该相信百度。","news_type":1,"symbols_score_info":{"09888":0.6,"00175":0.9,"BIDU":0.9}},"isVote":1,"tweetType":1,"viewCount":3508,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165833824,"gmtCreate":1624114001868,"gmtModify":1703828992486,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/165833824","repostId":"2144170319","repostType":4,"repost":{"id":"2144170319","kind":"highlight","pubTimestamp":1624086714,"share":"https://ttm.financial/m/news/2144170319?lang=en_US&edition=fundamental","pubTime":"2021-06-19 15:11","market":"us","language":"zh","title":"The Biden administration has completed 300 million doses of vaccine, challenging its 70% adult vaccination target.","url":"https://stock-news.laohu8.com/highlight/detail?id=2144170319","media":"新浪财经","summary":"　　中新社华盛顿6月18日电 美国总统拜登18日在白宫宣布，在其就任150天内，美国已完成3亿剂新冠疫苗接种。　　尽管疫情大幅改善，但美国民众的疫苗接种意愿降低，让拜登政府的另一项抗疫目标面临挑战。拜登此前提出，在7月4日前，让70%的美国成年人至少接种一剂疫苗。15个州和华盛顿特区的一剂疫苗接种率已达70%。这将成为拜登就任总统以来白宫举行的最大规模活动。","content":"<p>(Fighting COVID-19) The Biden administration has completed 300 million doses of vaccine, posing a challenge to its 70% adult vaccination target.</p><p>WASHINGTON, June 18 (Xinhua) -- U.S. President Joe Biden announced at the White House on Tuesday that the United States has administered 300 million doses of the COVID-19 vaccine within 150 days of taking office.</p><p>Speaking about the pandemic that day, Biden said, \"Compared to last year, the United States is about to have a very different summer. A bright and joyful summer.\"</p><p>According to data from Johns Hopkins University, as of the 18th, the United States had accumulated more than 33.51 million confirmed cases of COVID-19 and 601,000 deaths. Currently, the average number of confirmed cases and deaths in the United States over seven days is approximately 12,000 and 300, respectively.</p><p>Despite a significant improvement in the pandemic, the American public's willingness to get vaccinated has decreased, posing a challenge to another of the Biden administration's anti-pandemic goals. Biden previously proposed that 70% of American adults receive at least one dose of the vaccine by July 4. There are 15 days left until the Independence Day holiday, but this figure is still 65.1%.</p><p>《<a href=\"https://laohu8.com/S/WPO\">The Washington Post</a>The report points out that the aforementioned goals may not be achieved until the summer. Currently, the average number of vaccinations administered in the United States over 7 days is about 1.1 million doses, far below the peak of 3.3 million doses per day.</p><p>Biden pointed out that regions with high vaccination rates in the United States have seen significant declines in mortality and hospitalization rates. \"But unfortunately, in states with low vaccination rates, new cases and hospitalizations are not declining in many places. In some places, they are actually rising.\"</p><p>Data released by the White House on the 18th showed that more than 175 million Americans have received at least one dose of the vaccine. One-dose vaccination rates have reached 70% in 15 states and Washington, D.C. According to US media statistics, the vaccination rate for one dose of the vaccine in Alabama, Louisiana, Mississippi, Tennessee, Wyoming and other states is currently less than 50%.</p><p>Biden also pointed out that the COVID-19 variant is a \"serious problem\" in the United States' fight against the pandemic. COVID-19 variants will make unvaccinated people more vulnerable than they were a month ago. Faced with highly dangerous and highly transmissible mutated viruses, full vaccination remains the \"best way\" to protect oneself.</p><p>“On July 4th, we will celebrate our independence from the pandemic while celebrating Independence Day. We hope everyone can do that,” Biden said.</p><p>Earlier this week, the White House announced that a 1,000-person celebration would be held on the South Lawn on Independence Day, inviting medical workers, rescue workers, and their families on the front lines of the fight against the pandemic. This will be the largest event held at the White House since Biden became president.</p>","source":"sina_us","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Biden administration has completed 300 million doses of vaccine, challenging its 70% adult vaccination target.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Biden administration has completed 300 million doses of vaccine, challenging its 70% adult vaccination target.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-06-19 15:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Fighting COVID-19) The Biden administration has completed 300 million doses of vaccine, posing a challenge to its 70% adult vaccination target.</p><p>WASHINGTON, June 18 (Xinhua) -- U.S. President Joe Biden announced at the White House on Tuesday that the United States has administered 300 million doses of the COVID-19 vaccine within 150 days of taking office.</p><p>Speaking about the pandemic that day, Biden said, \"Compared to last year, the United States is about to have a very different summer. A bright and joyful summer.\"</p><p>According to data from Johns Hopkins University, as of the 18th, the United States had accumulated more than 33.51 million confirmed cases of COVID-19 and 601,000 deaths. Currently, the average number of confirmed cases and deaths in the United States over seven days is approximately 12,000 and 300, respectively.</p><p>Despite a significant improvement in the pandemic, the American public's willingness to get vaccinated has decreased, posing a challenge to another of the Biden administration's anti-pandemic goals. Biden previously proposed that 70% of American adults receive at least one dose of the vaccine by July 4. There are 15 days left until the Independence Day holiday, but this figure is still 65.1%.</p><p>《<a href=\"https://laohu8.com/S/WPO\">The Washington Post</a>The report points out that the aforementioned goals may not be achieved until the summer. Currently, the average number of vaccinations administered in the United States over 7 days is about 1.1 million doses, far below the peak of 3.3 million doses per day.</p><p>Biden pointed out that regions with high vaccination rates in the United States have seen significant declines in mortality and hospitalization rates. \"But unfortunately, in states with low vaccination rates, new cases and hospitalizations are not declining in many places. In some places, they are actually rising.\"</p><p>Data released by the White House on the 18th showed that more than 175 million Americans have received at least one dose of the vaccine. One-dose vaccination rates have reached 70% in 15 states and Washington, D.C. According to US media statistics, the vaccination rate for one dose of the vaccine in Alabama, Louisiana, Mississippi, Tennessee, Wyoming and other states is currently less than 50%.</p><p>Biden also pointed out that the COVID-19 variant is a \"serious problem\" in the United States' fight against the pandemic. COVID-19 variants will make unvaccinated people more vulnerable than they were a month ago. Faced with highly dangerous and highly transmissible mutated viruses, full vaccination remains the \"best way\" to protect oneself.</p><p>“On July 4th, we will celebrate our independence from the pandemic while celebrating Independence Day. We hope everyone can do that,” Biden said.</p><p>Earlier this week, the White House announced that a 1,000-person celebration would be held on the South Lawn on Independence Day, inviting medical workers, rescue workers, and their families on the front lines of the fight against the pandemic. This will be the largest event held at the White House since Biden became president.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-06-19/doc-ikqcfnca1958952.shtml\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c26835d2a08742c3de45f524c7bb8604","relate_stocks":{},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-06-19/doc-ikqcfnca1958952.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144170319","content_text":"（抗击新冠肺炎）拜登政府完成3亿剂疫苗接种 70%成人接种目标迎挑战\n中新社华盛顿6月18日电 （记者 陈孟统）美国总统拜登18日在白宫宣布，在其就任150天内，美国已完成3亿剂新冠疫苗接种。\n拜登当天就疫情发表讲话说：“与去年相比，美国即将迎来一个非常不同的夏天。一个明亮的、愉悦的夏天。”\n据美国约翰斯·霍普金斯大学数据，截至18日，美国累计新冠确诊病例超3351万，死亡病例达60.1万。目前，美国7天平均确诊和死亡病例约为1.2万例和300例。\n尽管疫情大幅改善，但美国民众的疫苗接种意愿降低，让拜登政府的另一项抗疫目标面临挑战。拜登此前提出，在7月4日前，让70%的美国成年人至少接种一剂疫苗。距离独立日假期还剩15天，但这一数据仍为65.1%。\n《华盛顿邮报》指出，上述目标可能要到夏天才能实现。目前，美国7天平均疫苗接种量约为110万剂，远低于高峰时期的每日330万剂。\n拜登指出，美国疫苗接种率高的地区，死亡率和住院率大幅下降。“但不幸的是，在疫苗接种率较低的州，许多地方的新增病例和住院率并没有下降。在一些地方，实际在上升。”\n白宫18日公布的数据显示，目前，超过1.75亿美国人已至少接种一剂疫苗。15个州和华盛顿特区的一剂疫苗接种率已达70%。而据美国媒体统计，亚拉巴马州、路易斯安那州、密西西比州、田纳西州、怀俄明州等地目前一剂疫苗接种率不足50%。\n拜登同时指出，新冠变异病毒是美国抗击疫情的一个“严重问题”。新冠变异病毒将使未接种疫苗的人比一个月前更加脆弱。面对高危险性、高传播性的变异病毒，完全接种疫苗仍是自我保护的“最佳方法”。\n“7月4日，我们将在欢度独立日的同时，庆祝摆脱疫情而独立。我们希望每个人都能做到。”拜登如是说。\n本周早些时候，白宫对外透露，独立日当天将在南草坪举办千人规模的庆祝活动，邀请在抗疫一线的医务人员、救援人员及其家人参加。这将成为拜登就任总统以来白宫举行的最大规模活动。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4089,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168545054,"gmtCreate":1623979602178,"gmtModify":1703825312172,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/168545054","repostId":"2144253297","repostType":4,"isVote":1,"tweetType":1,"viewCount":3635,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185526603,"gmtCreate":1623661501302,"gmtModify":1704208050619,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/185526603","repostId":"1174303058","repostType":4,"isVote":1,"tweetType":1,"viewCount":1602,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":189494484,"gmtCreate":1623284367248,"gmtModify":1704199958580,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189494484","repostId":"2142211740","repostType":4,"repost":{"id":"2142211740","kind":"news","pubTimestamp":1623284018,"share":"https://ttm.financial/m/news/2142211740?lang=en_US&edition=fundamental","pubTime":"2021-06-10 08:13","market":"hk","language":"zh","title":"EU releases preliminary investigation results: Alexa, Siri, and others raise monopoly concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=2142211740","media":"新浪科技","summary":"视频丨欧盟：对亚马逊“出手”正式提起反垄断诉讼新浪科技讯 北京时间6月9日晚间消息，据报道，欧盟反垄断监管机构今日表示，亚马逊Alexa、苹果Siri和Google Assistant等语音助手的市场力量日益增强，这引发了潜在的反竞争行为担忧。调研公司Statista数据显示，Alexa、Siri和Google Assistant是欧洲最受欢迎的语音助手设备。欧盟委员会表示，该调查结果将接受为期12周的公众咨询，截止日期为今年的9月1日。","content":"<p><a href=\"https://laohu8.com/S/SINA\">Sina</a>Technology News, Beijing time, June 9th evening news: According to reports, the EU's antitrust regulator stated today that Amazon Alexa...<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The growing market power of voice assistants such as Siri and Google Assistant has raised concerns about potential anti-competitive behavior.</p><p>The European Commission made the remarks today after a year-long investigation into voice assistants and other connected devices. During the investigation, more than 200 companies responded to this. Previously, the European Commission had conducted similar investigations into companies in e-commerce, pharmaceuticals, financial services, and energy, resulting in some companies facing hefty fines.</p><p>According to data from research firm Statista, Alexa, Siri, and Google Assistant are the most popular voice Assistant devices in Europe. It is projected that global sales of voice assistant devices will double to 8.4 billion units in 2024, from 4.2 billion units in 2020.</p><p>EU Antitrust Commissioner Margrethe Vestager said today: “We are seeing some signs that some of the practices we are familiar with may lead to bundling or the emergence of ‘gatekeepers.’ Based on the preliminary findings released today, our concerns appear to be shared by many market participants.”</p><p>Vestager also stated that it is currently difficult to say whether the investigation will lead to a formal antitrust investigation by the EU into these companies. However, if their anti-competitive behavior is confirmed, it is possible to launch an investigation in the future.</p><p>The European Commission stated that respondents raised concerns about certain exclusivities, namely bundling practices related to voice assistants, such as smart device manufacturers being prevented from installing a second voice assistant on one device. The second concern is that voice assistant providers promote their own or third-party services through default settings on devices, thereby restricting competitors.</p><p>The third concern focuses on the availability of voice assistants and smart device providers.<a href=\"https://laohu8.com/S/603138\">massive data</a>The fourth concern is the lack of interoperability between devices, with proprietary technology becoming the \"de facto\" standard.</p><p>In this regard,<a href=\"https://laohu8.com/S/GOOG\">Google</a>Apple and Amazon have not yet commented.</p><p>In response to these anti-competitive behaviors, the EU has enacted stricter regulations called the Digital Markets Act. The bill still needs to be consulted with EU lawmakers and EU member states before it can be implemented, which is expected next year.</p><p>The European Commission stated that the findings will be subject to a 12-week public consultation period, ending on September 1st of this year. The EU will release its final report in the first half of next year.</p>","source":"sina_symbol","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>EU releases preliminary investigation results: Alexa, Siri, and others raise monopoly concerns</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEU releases preliminary investigation results: Alexa, Siri, and others raise monopoly concerns\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技</strong><span class=\"h-time small\">2021-06-10 08:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/SINA\">Sina</a>Technology News, Beijing time, June 9th evening news: According to reports, the EU's antitrust regulator stated today that Amazon Alexa...<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The growing market power of voice assistants such as Siri and Google Assistant has raised concerns about potential anti-competitive behavior.</p><p>The European Commission made the remarks today after a year-long investigation into voice assistants and other connected devices. During the investigation, more than 200 companies responded to this. Previously, the European Commission had conducted similar investigations into companies in e-commerce, pharmaceuticals, financial services, and energy, resulting in some companies facing hefty fines.</p><p>According to data from research firm Statista, Alexa, Siri, and Google Assistant are the most popular voice Assistant devices in Europe. It is projected that global sales of voice assistant devices will double to 8.4 billion units in 2024, from 4.2 billion units in 2020.</p><p>EU Antitrust Commissioner Margrethe Vestager said today: “We are seeing some signs that some of the practices we are familiar with may lead to bundling or the emergence of ‘gatekeepers.’ Based on the preliminary findings released today, our concerns appear to be shared by many market participants.”</p><p>Vestager also stated that it is currently difficult to say whether the investigation will lead to a formal antitrust investigation by the EU into these companies. However, if their anti-competitive behavior is confirmed, it is possible to launch an investigation in the future.</p><p>The European Commission stated that respondents raised concerns about certain exclusivities, namely bundling practices related to voice assistants, such as smart device manufacturers being prevented from installing a second voice assistant on one device. The second concern is that voice assistant providers promote their own or third-party services through default settings on devices, thereby restricting competitors.</p><p>The third concern focuses on the availability of voice assistants and smart device providers.<a href=\"https://laohu8.com/S/603138\">massive data</a>The fourth concern is the lack of interoperability between devices, with proprietary technology becoming the \"de facto\" standard.</p><p>In this regard,<a href=\"https://laohu8.com/S/GOOG\">Google</a>Apple and Amazon have not yet commented.</p><p>In response to these anti-competitive behaviors, the EU has enacted stricter regulations called the Digital Markets Act. The bill still needs to be consulted with EU lawmakers and EU member states before it can be implemented, which is expected next year.</p><p>The European Commission stated that the findings will be subject to a 12-week public consultation period, ending on September 1st of this year. The EU will release its final report in the first half of next year.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/tech/2021-06-09/doc-ikqcfnca0117612.shtml\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ccaf5a00a23e698b11127b5df489f477","relate_stocks":{"03086":"华夏纳指","QNETCN":"纳斯达克中美互联网老虎指数","09086":"华夏纳指-U"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/tech/2021-06-09/doc-ikqcfnca0117612.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142211740","content_text":"新浪科技讯 北京时间6月9日晚间消息，据报道，欧盟反垄断监管机构今日表示，亚马逊Alexa、苹果Siri和Google Assistant等语音助手的市场力量日益增强，这引发了潜在的反竞争行为担忧。\n在对语音助手和其他联网设备进行了长达一年的调查后，欧盟委员会于今日发表了上述言论。调查期间，200多家公司对此做出了回应。之前，欧盟委员会曾对电子商务、制药、金融服务和能源等企业进行过类似的调查，并导致部分企业遭遇巨额罚款。\n调研公司Statista数据显示，Alexa、Siri和Google Assistant是欧洲最受欢迎的语音助手设备。据预计，2024年全球语音助手设备销量将从2020年的42亿台翻一番达到84亿台。\n欧盟反垄断专员玛格丽特·维斯塔格（Margrethe Vestager）今日表示：“我们看到了一些迹象，即我们之前很熟悉的一些做法可能会导致捆绑，或者是‘看门人’的出现。从今天公布的初步调查结果来看，我们的担忧似乎得到了许多市场参与者的认同。”\n维斯特格还表示，该调查是否会导致欧盟对这些公司展开正式的反垄断调查，目前还很难说。但如果他们的反竞争行为得到证实，将来展开调查是有可能的。\n欧盟委员会表示，受访者提到了对某些排他性的担忧，即与语音助手相关的捆绑做法，比如智能设备制造商被阻止在一台设备上安装第二个语音助手。第二个担忧是，语音助手提供商通过设备上的默认设置，推广自家或第三方的服务，从而限制了竞争对手。\n第三个担忧集中在语音助手和智能设备提供商可获得的海量数据，而第四个担忧是设备之间缺乏互操作性，专有技术成为了“事实上”的标准。\n对此，谷歌、苹果和亚马逊尚未发表评论。\n对于这些反竞争行为，欧盟已经制定了更为严格的法规，名为《数字市场法案》。该法案还需要与欧盟立法者和欧盟成员国进行磋商，然后才能实施，预计是明年。\n欧盟委员会表示，该调查结果将接受为期12周的公众咨询，截止日期为今年的9月1日。明年上半年，欧盟会给出最终的报告。","news_type":1,"symbols_score_info":{"QNETCN":0.9,"03086":0.9,"09086":0.9}},"isVote":1,"tweetType":1,"viewCount":1438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114868554,"gmtCreate":1623066529878,"gmtModify":1704195324585,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/114868554","repostId":"1171406130","repostType":4,"repost":{"id":"1171406130","kind":"news","pubTimestamp":1623066365,"share":"https://ttm.financial/m/news/1171406130?lang=en_US&edition=fundamental","pubTime":"2021-06-07 19:46","market":"hk","language":"zh","title":"Gome is unlikely to be named in the \"6.18\" shopping festival.","url":"https://stock-news.laohu8.com/highlight/detail?id=1171406130","media":" 锌刻度","summary":"黄光裕，迎来重掌国美的一大挑战。\n一年一度的“6·18”，堪称电商上半年的关键之战，京东、苏宁、拼多多、淘宝等无不摩拳擦掌。\n对国美而言，则是一个检验“复兴”效果的契机。\n“希望通过我们的奋斗，我们的","content":"<p>Huang Guangyu faces a major challenge in regaining control of Gome.</p><p>The annual \"6.18\" shopping festival can be considered a crucial battle for e-commerce in the first half of the year.<a href=\"https://laohu8.com/S/JD\">JD.com</a>Suning<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>Taobao and other platforms are all eager to get their hands dirty.</p><p>For Gome, this is an opportunity to test the effectiveness of its \"revival\".</p><p>\"We hope that through our struggle and efforts, we can strive to restore the company's original market position within the next 18 months,\" Huang Guangyu made a bold statement on the third day after his official release.</p><p>However, Gome has been lagging behind for more than a decade.</p><p>Its retail sales revenue in 2020 was 44.119 billion yuan, compared to the same period last year.<a href=\"https://laohu8.com/S/002024\">Suning.com</a>The sales volume of goods reached 416.315 billion yuan, and the two, which were once comparable, are now a full order of magnitude apart.</p><p>So, Gome, which has shifted from conservative to aggressive, what cards can it play in this \"6.18\" battle? In a landscape dotted with e-commerce giants, can we find a gap to leap forward? Will the home decoration market become Gome's second curve?</p><p><b>Live streaming is sluggish, and short videos have become advertising territory.</b></p><p>\"I heard that Moutai is easy to grab, so I went to Gome,\" E Zijun said.</p><p>E Zijun told Zinc Scale that Moutai was just as difficult to grab on the Gome e-commerce APP \"True Happiness\". Later, she learned that she had been \"tricked\": Xiaomei Bangbang, a commission-earning tool for sharing on \"True Happiness\", could receive a commission of up to 6 yuan for each successful promotion of a member, and the so-called ease of grabbing Moutai was one of its biggest gimmicks.</p><p>In E Zijun's view, \"True Happiness\" followed Taobao's example by launching a live streaming function, JD.com's example by launching a 99 membership function, and Pinduoduo's example by launching games and group buying functions. \"At best, it's a comprehensive collection; at worst, it's just a stitching monster!\"</p><p>The zinc scale survey found that,<b>The aforementioned features of \"True Happiness\" remain a standard practice in e-commerce, and they are still far from capturing users' minds.</b></p><p>For example, Gome regards live streaming as a value growth point and Huang Guangyu has high hopes for it. However, the live streaming on \"True Happiness\" is quite limited, mostly taking place in Gome's offline stores, where store staff directly serve as streamers.</p><p>According to Times Finance, since the beginning of the year, Gome has required its employees to guide customers to place orders through the \"True Happiness\" APP. The live streaming assessment target requires that each session have no less than 30 viewers.</p><p>After a week of observation, Zinc Scale found that most live streams lacked popularity, with the number of viewers remaining in double digits in most cases, and sometimes even less than 30.<img src=\"https://static.tigerbbs.com/524f5566e23fc3c50ec348a5996b1ccc\" tg-width=\"726\" tg-height=\"1476\" referrerpolicy=\"no-referrer\">The number of spectators is less than 30</p><p>Even worse,<b>The short videos featuring \"Truly Happy\" are almost entirely promotional advertisements from manufacturers.</b></p><p>For example, \"True Happiness\" brings slot machine games into \"True Happiness\". Users can earn Tiger Coins by logging into the event page to check in or shop every day. Those who choose to participate in a lottery with a multiplier of 2x, 5x or 8x can have a chance to win high Tiger Coin rewards.</p><p>Little Tiger Coins can be exchanged for True Happiness Beans, which can be redeemed for cash when shopping, hence the saying online that \"Little Tiger takes a gamble and turns a bicycle into a motorcycle\".</p><p>The problem is,<b>This tactic clearly skirts the legal fringes, and \"True Happiness's\" blatant integration of it into its e-commerce system is questionable.</b>。</p><p><b>Is the \"price war\" just a bluff?</b></p><p>Actually,<b>Price wars are the key to \"true happiness\".</b></p><p>As the May Day holiday approached, Huang Guangyu sent an open letter: \"Having been deeply involved in the retail industry for 34 years, Gome deeply feels the pain of low prices becoming a gimmick in the industry, knows the difficulty of sustaining low prices, and firmly believes that only truly low prices with high cost performance, winning through volume, low profit margins and high sales volume, and the genuine support of manufacturers and partners can meet the interests of consumers and drive market prosperity.\"</p><p>This means that Gome has launched a \"price war\".</p><p>During the \"6.18\" shopping festival, the \"True Happiness\" price war covered multiple sectors such as electronics, department stores, and beverages, in an attempt to find an opportunity to leap forward in the landscape of numerous e-commerce giants.</p><p>Zhao Bingcong, who is currently renovating, has a deep understanding of this.</p><p>Because he lives in the Jiangsu and Zhejiang regions, it is difficult to dry clothes on the balcony during the plum rain season. Zhao Bingcong had suffered before, and this time he wanted to buy a dryer for his new home. In comparison, Gome offered the lowest price online.</p><p>\"My neighbor recommended the Siemens WT47W5681W, which also has a built-in sterilization function,\" Zhao Bingcong said. He added that the Gome price is 7,499 yuan, which is 100 yuan less than the final price on mainstream e-commerce platforms. \"I can buy one or two more T-shirts.\"</p><p>However, Zhao Bingcong told Zinc Scale that only some home appliances on \"True Happiness\" have a price advantage, while most other products are not at a disadvantage, and some are even at a disadvantage.</p><p>In other words,<b>Gome's \"price war\" was not as intense as one might imagine.</b></p><p>according to<a href=\"https://laohu8.com/S/00493\">Gome Retail</a>According to the 2020 annual report, as of December 31, 2020, Gome Retail had cash and cash equivalents of RMB 9.597 billion and net cash flow from operating activities of RMB 1.851 billion, which shows that its foundation in waging \"price wars\" is not deep.</p><p>In fact, the Zinc Scale survey found that the current \"Truly Happy\" \"Newcomer Exclusive 1 Yuan Purchase\" event is practically useless because the coupons have already been snapped up. However, the promotion in the APP has not stopped, which has caused dissatisfaction among new consumers, with a lot of voices saying \"If you can't afford to play, don't play.\"<img src=\"https://static.tigerbbs.com/cff327127cb836d1a50c551d49bff644\" tg-width=\"520\" tg-height=\"753\" referrerpolicy=\"no-referrer\">Activities without coupons are meaningless.</p><p>This indirectly confirms this.<b>Gome's \"price war\" is lacking momentum and urgently needs to replenish its resources.</b></p><p>An internet observer told Zinc Scale: \"With internet traffic peaking and customer acquisition costs high, if Gome's low-price subsidy strategy cannot continuously export and achieve widespread coverage, then its possibility of overtaking on a curve is questionable.\"</p><p><b>E-commerce is lagging behind, and even indirect attacks cannot break through the traffic bottleneck.</b></p><p>Given the above disadvantages,<b>Gome may find it difficult to achieve a leapfrog development in traditional sectors.</b>The authorities are well aware of this and are actively seeking a breakthrough to solve the problem.</p><p>\"If Gome continues to promote the same e-commerce model as JD.com and Tmall, it will be difficult to form a new landscape and competitiveness,\" said He Yangqing, CEO of Gome Investment Company, in a media interview. \"There are very few leading companies in the home decoration industry, and their market share is even less than 1%.\"</p><p>And yes,<b>Gome has set its sights on the home decoration market to break through.</b></p><p>According to big data from AVC Revo, the demand for renovation in the existing housing market is expected to exceed 35 million units during the 14th Five-Year Plan period, a significant increase of more than 77% compared to the 13th Five-Year Plan period.</p><p>According to relevant data, with the increase in the proportion of home renovation spending in fourth-tier cities and below, the home decoration market will reach a scale of 6 trillion yuan by around 2025, which is four times that of the home appliance industry.</p><p>To this end, Gome is eager to integrate scheme design, contract signing, material procurement, and construction acceptance into a unified platform to create a transparent closed loop for decoration.<img src=\"https://static.tigerbbs.com/326a3b0e0b05fb12c2c69139cef10128\" tg-width=\"758\" tg-height=\"505\" referrerpolicy=\"no-referrer\">Gome invests in Dabanjia, using it as a tool to enter the home decoration market.</p><p>Huang Guangyu stated, \"We are collaborating to optimize the industry chain, and all parties are gradually standardizing the industry, giving everyone more sustainable development space with a clear implementation path.\"</p><p>Nevertheless, but<b>Gome's path to breaking through may not be smooth.</b>。</p><p>Transparent home renovation is not a new thing, but its implementation has not been ideal. The reason for this is that the home renovation chain is long, there are many links, and traceability is difficult. Especially with the low penetration of digitalization, supervision has become a major problem.</p><p>This cannot be changed overnight.</p><p>In addition, Gome follows a platform model and does not involve specific decoration businesses. In essence, it is still doing traffic business. The problem is that the market is not short of home decoration platforms. There are both vertical home decoration platforms such as Qijia.com and comprehensive home decoration platforms such as Tmall Home Decoration. So how can Gome attract home decoration companies of all sizes under the competition?</p><p>After going through many twists and turns, we've returned to the question of how to overcome the traffic bottleneck.</p><p>In this regard,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>We are pessimistic: \"Gome has ambitions for future development, but its prospects and plans are unclear. Considering the fierce competition its business faces and the uncertain development prospects, we reiterate our 'reduce' rating.\"</p><p>In conclusion,<b>Gome's road to revival remains arduous and long.</b>On the one hand, it is necessary to transfer offline advantages to online channels to explore new traffic channels; on the other hand, it is necessary to convert traffic into actual sales volume, thereby launching an offensive against market-oriented defenses in home appliances and home decoration.</p><p>From this perspective, Gome doesn't have much time left to redeem itself.</p>","source":"lsy1568158634801","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>Gome is unlikely to be named in the \"6.18\" shopping festival.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGome is unlikely to be named in the \"6.18\" shopping festival.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\"> 锌刻度</strong><span class=\"h-time small\">2021-06-07 19:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Huang Guangyu faces a major challenge in regaining control of Gome.</p><p>The annual \"6.18\" shopping festival can be considered a crucial battle for e-commerce in the first half of the year.<a href=\"https://laohu8.com/S/JD\">JD.com</a>Suning<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>Taobao and other platforms are all eager to get their hands dirty.</p><p>For Gome, this is an opportunity to test the effectiveness of its \"revival\".</p><p>\"We hope that through our struggle and efforts, we can strive to restore the company's original market position within the next 18 months,\" Huang Guangyu made a bold statement on the third day after his official release.</p><p>However, Gome has been lagging behind for more than a decade.</p><p>Its retail sales revenue in 2020 was 44.119 billion yuan, compared to the same period last year.<a href=\"https://laohu8.com/S/002024\">Suning.com</a>The sales volume of goods reached 416.315 billion yuan, and the two, which were once comparable, are now a full order of magnitude apart.</p><p>So, Gome, which has shifted from conservative to aggressive, what cards can it play in this \"6.18\" battle? In a landscape dotted with e-commerce giants, can we find a gap to leap forward? Will the home decoration market become Gome's second curve?</p><p><b>Live streaming is sluggish, and short videos have become advertising territory.</b></p><p>\"I heard that Moutai is easy to grab, so I went to Gome,\" E Zijun said.</p><p>E Zijun told Zinc Scale that Moutai was just as difficult to grab on the Gome e-commerce APP \"True Happiness\". Later, she learned that she had been \"tricked\": Xiaomei Bangbang, a commission-earning tool for sharing on \"True Happiness\", could receive a commission of up to 6 yuan for each successful promotion of a member, and the so-called ease of grabbing Moutai was one of its biggest gimmicks.</p><p>In E Zijun's view, \"True Happiness\" followed Taobao's example by launching a live streaming function, JD.com's example by launching a 99 membership function, and Pinduoduo's example by launching games and group buying functions. \"At best, it's a comprehensive collection; at worst, it's just a stitching monster!\"</p><p>The zinc scale survey found that,<b>The aforementioned features of \"True Happiness\" remain a standard practice in e-commerce, and they are still far from capturing users' minds.</b></p><p>For example, Gome regards live streaming as a value growth point and Huang Guangyu has high hopes for it. However, the live streaming on \"True Happiness\" is quite limited, mostly taking place in Gome's offline stores, where store staff directly serve as streamers.</p><p>According to Times Finance, since the beginning of the year, Gome has required its employees to guide customers to place orders through the \"True Happiness\" APP. The live streaming assessment target requires that each session have no less than 30 viewers.</p><p>After a week of observation, Zinc Scale found that most live streams lacked popularity, with the number of viewers remaining in double digits in most cases, and sometimes even less than 30.<img src=\"https://static.tigerbbs.com/524f5566e23fc3c50ec348a5996b1ccc\" tg-width=\"726\" tg-height=\"1476\" referrerpolicy=\"no-referrer\">The number of spectators is less than 30</p><p>Even worse,<b>The short videos featuring \"Truly Happy\" are almost entirely promotional advertisements from manufacturers.</b></p><p>For example, \"True Happiness\" brings slot machine games into \"True Happiness\". Users can earn Tiger Coins by logging into the event page to check in or shop every day. Those who choose to participate in a lottery with a multiplier of 2x, 5x or 8x can have a chance to win high Tiger Coin rewards.</p><p>Little Tiger Coins can be exchanged for True Happiness Beans, which can be redeemed for cash when shopping, hence the saying online that \"Little Tiger takes a gamble and turns a bicycle into a motorcycle\".</p><p>The problem is,<b>This tactic clearly skirts the legal fringes, and \"True Happiness's\" blatant integration of it into its e-commerce system is questionable.</b>。</p><p><b>Is the \"price war\" just a bluff?</b></p><p>Actually,<b>Price wars are the key to \"true happiness\".</b></p><p>As the May Day holiday approached, Huang Guangyu sent an open letter: \"Having been deeply involved in the retail industry for 34 years, Gome deeply feels the pain of low prices becoming a gimmick in the industry, knows the difficulty of sustaining low prices, and firmly believes that only truly low prices with high cost performance, winning through volume, low profit margins and high sales volume, and the genuine support of manufacturers and partners can meet the interests of consumers and drive market prosperity.\"</p><p>This means that Gome has launched a \"price war\".</p><p>During the \"6.18\" shopping festival, the \"True Happiness\" price war covered multiple sectors such as electronics, department stores, and beverages, in an attempt to find an opportunity to leap forward in the landscape of numerous e-commerce giants.</p><p>Zhao Bingcong, who is currently renovating, has a deep understanding of this.</p><p>Because he lives in the Jiangsu and Zhejiang regions, it is difficult to dry clothes on the balcony during the plum rain season. Zhao Bingcong had suffered before, and this time he wanted to buy a dryer for his new home. In comparison, Gome offered the lowest price online.</p><p>\"My neighbor recommended the Siemens WT47W5681W, which also has a built-in sterilization function,\" Zhao Bingcong said. He added that the Gome price is 7,499 yuan, which is 100 yuan less than the final price on mainstream e-commerce platforms. \"I can buy one or two more T-shirts.\"</p><p>However, Zhao Bingcong told Zinc Scale that only some home appliances on \"True Happiness\" have a price advantage, while most other products are not at a disadvantage, and some are even at a disadvantage.</p><p>In other words,<b>Gome's \"price war\" was not as intense as one might imagine.</b></p><p>according to<a href=\"https://laohu8.com/S/00493\">Gome Retail</a>According to the 2020 annual report, as of December 31, 2020, Gome Retail had cash and cash equivalents of RMB 9.597 billion and net cash flow from operating activities of RMB 1.851 billion, which shows that its foundation in waging \"price wars\" is not deep.</p><p>In fact, the Zinc Scale survey found that the current \"Truly Happy\" \"Newcomer Exclusive 1 Yuan Purchase\" event is practically useless because the coupons have already been snapped up. However, the promotion in the APP has not stopped, which has caused dissatisfaction among new consumers, with a lot of voices saying \"If you can't afford to play, don't play.\"<img src=\"https://static.tigerbbs.com/cff327127cb836d1a50c551d49bff644\" tg-width=\"520\" tg-height=\"753\" referrerpolicy=\"no-referrer\">Activities without coupons are meaningless.</p><p>This indirectly confirms this.<b>Gome's \"price war\" is lacking momentum and urgently needs to replenish its resources.</b></p><p>An internet observer told Zinc Scale: \"With internet traffic peaking and customer acquisition costs high, if Gome's low-price subsidy strategy cannot continuously export and achieve widespread coverage, then its possibility of overtaking on a curve is questionable.\"</p><p><b>E-commerce is lagging behind, and even indirect attacks cannot break through the traffic bottleneck.</b></p><p>Given the above disadvantages,<b>Gome may find it difficult to achieve a leapfrog development in traditional sectors.</b>The authorities are well aware of this and are actively seeking a breakthrough to solve the problem.</p><p>\"If Gome continues to promote the same e-commerce model as JD.com and Tmall, it will be difficult to form a new landscape and competitiveness,\" said He Yangqing, CEO of Gome Investment Company, in a media interview. \"There are very few leading companies in the home decoration industry, and their market share is even less than 1%.\"</p><p>And yes,<b>Gome has set its sights on the home decoration market to break through.</b></p><p>According to big data from AVC Revo, the demand for renovation in the existing housing market is expected to exceed 35 million units during the 14th Five-Year Plan period, a significant increase of more than 77% compared to the 13th Five-Year Plan period.</p><p>According to relevant data, with the increase in the proportion of home renovation spending in fourth-tier cities and below, the home decoration market will reach a scale of 6 trillion yuan by around 2025, which is four times that of the home appliance industry.</p><p>To this end, Gome is eager to integrate scheme design, contract signing, material procurement, and construction acceptance into a unified platform to create a transparent closed loop for decoration.<img src=\"https://static.tigerbbs.com/326a3b0e0b05fb12c2c69139cef10128\" tg-width=\"758\" tg-height=\"505\" referrerpolicy=\"no-referrer\">Gome invests in Dabanjia, using it as a tool to enter the home decoration market.</p><p>Huang Guangyu stated, \"We are collaborating to optimize the industry chain, and all parties are gradually standardizing the industry, giving everyone more sustainable development space with a clear implementation path.\"</p><p>Nevertheless, but<b>Gome's path to breaking through may not be smooth.</b>。</p><p>Transparent home renovation is not a new thing, but its implementation has not been ideal. The reason for this is that the home renovation chain is long, there are many links, and traceability is difficult. Especially with the low penetration of digitalization, supervision has become a major problem.</p><p>This cannot be changed overnight.</p><p>In addition, Gome follows a platform model and does not involve specific decoration businesses. In essence, it is still doing traffic business. The problem is that the market is not short of home decoration platforms. There are both vertical home decoration platforms such as Qijia.com and comprehensive home decoration platforms such as Tmall Home Decoration. So how can Gome attract home decoration companies of all sizes under the competition?</p><p>After going through many twists and turns, we've returned to the question of how to overcome the traffic bottleneck.</p><p>In this regard,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>We are pessimistic: \"Gome has ambitions for future development, but its prospects and plans are unclear. Considering the fierce competition its business faces and the uncertain development prospects, we reiterate our 'reduce' rating.\"</p><p>In conclusion,<b>Gome's road to revival remains arduous and long.</b>On the one hand, it is necessary to transfer offline advantages to online channels to explore new traffic channels; on the other hand, it is necessary to convert traffic into actual sales volume, thereby launching an offensive against market-oriented defenses in home appliances and home decoration.</p><p>From this perspective, Gome doesn't have much time left to redeem itself.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/m-9VfbcT8jzObWdeYZgBzA\"> 锌刻度</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6f78d2f00cbc26b40aac0942a0a777ee","relate_stocks":{"00493":"国美零售"},"source_url":"https://mp.weixin.qq.com/s/m-9VfbcT8jzObWdeYZgBzA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171406130","content_text":"黄光裕，迎来重掌国美的一大挑战。\n一年一度的“6·18”，堪称电商上半年的关键之战，京东、苏宁、拼多多、淘宝等无不摩拳擦掌。\n对国美而言，则是一个检验“复兴”效果的契机。\n“希望通过我们的奋斗，我们的努力，力争用未来18个月的时间，使企业恢复原有的市场地位。”黄光裕于正式获释第三天放出豪言。\n然而，国美掉队已有十余年。\n其2020年零售销售收入为441.19亿元，同期苏宁易购的商品销售规模为4163.15亿元，昔日比肩的两者，如今差了足足一个量级。\n那么，从保守转为进攻的国美，在这场“6·18”大战中，有哪些牌可打？在电商巨头林立的格局之下，能否寻找到上跃的空隙？家装市场，会成为国美的第二曲线吗？\n直播乏力，短视频沦为广告地盘\n“听说茅台好抢，才去的国美。”鄂子君如是说。\n鄂子君告诉锌刻度，国美电商APP“真快乐”上的茅台一样难抢，后来才知道是被“套路”了：“真快乐”上的分享赚佣金工具小美帮帮，每成功推广一位会员即可获得最高6元的佣金，而所谓的茅台好抢正是其最大噱头之一。\n在鄂子君看来，“真快乐”效仿淘宝推出了直播功能，效仿京东推出了九九会员功能，效仿拼多多推出了游戏、拼团抢购功能，“往好了说是集大成，往坏了说不就是缝合怪嘛！”\n锌刻度调查发现，“真快乐”的上述功能依然是电商的常规玩法，离抢占用户心智尚远。\n譬如，直播被国美视为价值增长点，被黄光裕寄予厚望，不过“真快乐”上的直播颇为单一，多为国美线下门店场景，店员直接兼任主播。\n据《时代财经》报道，从年初开始，国美要求员工引导顾客通过“真快乐”APP下单，其中直播考核目标要求每场观看人数不得低于30人。\n经过一周的观察，锌刻度发现多数直播人气匮乏，多数情况下观众人数维系在两位数，甚至有低于30人情况存在。观众人数低于30\n更为糟糕的是，“真快乐”的短视频几乎全为厂商的宣传广告。\n再譬如，“真快乐”把老虎机游戏搬入“真快乐”，用户每天登陆活动页面签到或购物就能获得小虎币，者选择2倍、5倍或8倍的倍率进行抽奖，从而有机会获得高额小虎币奖励。\n而小虎币可兑换真快乐豆，后者在购物时可抵现，因而网上有“小虎搏一搏，单车变摩托”的说法。\n问题在于，这个打法明显游走在法律边缘，“真快乐”堂而皇之将其植入电商体系的做法值得商榷。\n“价格战”背后只是虚张声势？\n其实，价格战才是“真快乐”的杀手锏。\n临近五一，黄光裕发了一封公开信：“深耕零售业34年，国美深感行业低价噱头化之痛，深知低价可持续性之难，深信只有高性价比、以量取胜、薄利多销的真低价，厂商伙伴的真支持，才能符合消费者的利益和带动市场繁荣。”\n这意味着，国美祭起“价格战”的大旗。\n在“6·18”期间，“真快乐”的价格战范围覆盖电器、百货、酒水等多个领域，以图在电商巨头林立的格局之下，寻找上跃的空隙。\n对此，正在装修的赵冰聪深有体会。\n由于身处江浙地区，遇到黄梅天阳台的衣服难以晾干，赵冰聪之前吃过苦头，这次想为新家添置一台烘干机，对比下来国美差不多为全网最低。\n“邻居推荐的是西门子WT47W5681W，还自带除菌功能。”赵冰聪表示国美售价7499元，到手价比主流电商平台少了100元，“可以再多买一两件T恤了。”\n不过，赵冰聪告诉锌刻度，“真快乐”上仅部分家电具备价格优势，其余商品多数不占优，甚至有的还处于劣势。\n换而言之，国美的“价格战”的火力密度并没有想象的那么大。\n据国美零售2020年年报显示，截至2020年12月31日，国美零售拥有现金及现金等价物为95.97亿元，经营活动产生的现金流量净额为18.51亿元，可见其打“价格战”的底蕴并不深厚。\n事实上，锌刻度调查发现，眼下“真快乐”的“新人专享1元购”活动，因为优惠券早已被抢完，该活动形同虚设，可APP中的宣传并未拉下，从而引起新入的消费者不满，“玩不起就不要玩”声量颇高。没有券活动形同虚设\n这从侧面印证了，国美的“价格战”后劲不足，亟需补充弹药。\n一名互联网观察人士告诉锌刻度：“在互联网流量见顶、获客成本高企的当下，国美的低价补贴打法如若不能持续输出、大面积覆盖，那弯道超车的可能性就存疑。”\n电商掉队，曲线出击也难破流量瓶颈\n上述种种劣势之下，国美恐难在传统领域上演弯道超车，对此官方其实也是心知肚明，进而也在积极寻求一个解题的突破口。\n“国美如果继续推进和京东天猫一样的电商模式，很难形成新的格局和竞争力。”国美投资公司CEO何阳青在接受媒体采访时表示，“家装行业头部公司非常少，市场份额甚至不足1%。”\n是的，国美将突围的目光瞄向了家装市场。\n据奥维云网大数据显示，在十四五期间存量房市场装修需求预计可超过3500万套，相比十三五期间大幅提升超过77%。\n而相关数据显示，随着四线及以下城市装修金额比例上升，家装市场到2025年左右达到6万亿元的规模，这一规模是家电行业的四倍。\n为此，国美渴望将方案设计、合同签订、材料采购、施工验收等纳入统一平台，打造一个透明装修的闭环。国美入股打扮家，以其为切入家装市场的抓手\n黄光裕表示：“在产业链里我们协同进行优化，各方一步一步把这个行业进行规范，给大家更多的可持续的而且有实施路径的发展空间。”\n尽管如此，但国美的突围之路或并不平坦。\n透明装修并非新鲜事物，然而落地却不太理想，究其原因为家装链条长、环节多、追溯难，特别是在数字化普及较低的情况下，监管成为老大难的问题。\n这并非一朝一夕可以改变的。\n此外，国美走的是平台模式，不下场涉及具体的装修业务，本质上仍然做的是流量生意，问题在于市场并不缺家装平台，既有齐家网等垂直家装平台，也有天猫家装等综合家装平台，那么对垒之下，国美何以吸引大大小小的家装公司？\n兜兜转转，又回到流量瓶颈如何突破这个问题上。\n对此，摩根大通持悲观态度：“国美对未来发展具有野心，但前景及计划未见明朗，考虑到业务面对激烈竞争及发展前景未明，重申‘减持’评级。”\n总而言之，国美的复兴之路依然任重道远，一方面需将线下的优势转移至线上，开拓流量新渠道，另外一方面则需将流量转化为实际销量，从而在家电、家装等市场化守势为攻势。\n这么来看，留给国美自我救赎的时间不多了。","news_type":1,"symbols_score_info":{"00493":0.9}},"isVote":1,"tweetType":1,"viewCount":1526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114026289,"gmtCreate":1623037430841,"gmtModify":1704194784875,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun 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Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/112832115","repostId":"1166736358","repostType":4,"isVote":1,"tweetType":1,"viewCount":1618,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112172260,"gmtCreate":1622858114850,"gmtModify":1704192528275,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585803365128858","idStr":"3585803365128858"},"themes":[],"title":"","htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112172260","repostId":"2141400304","repostType":4,"repost":{"id":"2141400304","kind":"news","pubTimestamp":1622854462,"share":"https://ttm.financial/m/news/2141400304?lang=en_US&edition=fundamental","pubTime":"2021-06-05 08:54","market":"us","language":"zh","title":"Microsoft's $16 billion acquisition of Nuance has been granted U.S. antitrust permission","url":"https://stock-news.laohu8.com/highlight/detail?id=2141400304","media":"新浪科技","summary":"北京时间6月5日上午消息，据报道，根据最近人工智能与语音技术公司Nuance向政府提交的文件，微软收购Nuance的这笔交易，已经获得美国的反垄断许可。今年四月份，微软正式公开了这笔160亿美元的交易","content":"<p>According to reports on the morning of June 5th, Beijing time, based on documents recently submitted to the government by artificial intelligence and voice technology company Nuance,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>The acquisition of Nuance has received antitrust approval from the United States.</p><p>In April of this year, Microsoft officially announced the $16 billion deal. Prior to this, the two companies had already cooperated on automated medical management (such as document archiving) in 2019.</p><p>In a filing with the U.S. Securities and Exchange Commission on Friday, Nuance stated that the deadline for the U.S. government to object to the transaction is June 1. Nuance stated that the expiration of this date \"meets one of the conditions for completing the transaction.\"</p><p>A Microsoft spokesperson previously stated that regulators in other jurisdictions were reviewing the acquisition and expected it to close by the end of 2021.</p>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft's $16 billion acquisition of Nuance has been granted U.S. antitrust permission</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicrosoft's $16 billion acquisition of Nuance has been granted U.S. antitrust permission\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技</strong><span class=\"h-time small\">2021-06-05 08:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to reports on the morning of June 5th, Beijing time, based on documents recently submitted to the government by artificial intelligence and voice technology company Nuance,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>The acquisition of Nuance has received antitrust approval from the United States.</p><p>In April of this year, Microsoft officially announced the $16 billion deal. Prior to this, the two companies had already cooperated on automated medical management (such as document archiving) in 2019.</p><p>In a filing with the U.S. Securities and Exchange Commission on Friday, Nuance stated that the deadline for the U.S. government to object to the transaction is June 1. Nuance stated that the expiration of this date \"meets one of the conditions for completing the transaction.\"</p><p>A Microsoft spokesperson previously stated that regulators in other jurisdictions were reviewing the acquisition and expected it to close by the end of 2021.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://tech.sina.cn/i/gj/2021-06-05/detail-ikqcfnaz9207589.d.html?vt=4\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/055c7812061d918cb8dbc486a1ec6b48","relate_stocks":{"MSFT":"微软"},"source_url":"https://tech.sina.cn/i/gj/2021-06-05/detail-ikqcfnaz9207589.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141400304","content_text":"北京时间6月5日上午消息，据报道，根据最近人工智能与语音技术公司Nuance向政府提交的文件，微软收购Nuance的这笔交易，已经获得美国的反垄断许可。今年四月份，微软正式公开了这笔160亿美元的交易。在此之前，两家公司已经在2019年就自动化医疗管理工作（比如文件归档等）进行合作。在周五提交给美国证券交易委员会的文件中，Nuance表示，美国政府对该交易提出反对的截止日期为6月1日。Nuance称，该日期到期“满足了完成交易的条件之一”。微软发言人之前在一份声明中表示，其他司法管辖区的监管机构正在审查这笔收购交易，并预期交易将于2021年底完成。","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":1712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":156010626,"gmtCreate":1625185688866,"gmtModify":1703737829406,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156010626","repostId":"2148225838","repostType":4,"isVote":1,"tweetType":1,"viewCount":3984,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114026289,"gmtCreate":1623037430841,"gmtModify":1704194784875,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"…","listText":"…","text":"…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/114026289","repostId":"1168123787","repostType":4,"isVote":1,"tweetType":1,"viewCount":1659,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112832432,"gmtCreate":1622859514126,"gmtModify":1704192569952,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/112832432","repostId":"2141400966","repostType":4,"isVote":1,"tweetType":1,"viewCount":1888,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835018733,"gmtCreate":1629680844722,"gmtModify":1676530094809,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835018733","repostId":"2161740015","repostType":4,"repost":{"id":"2161740015","kind":"highlight","pubTimestamp":1629679840,"share":"https://ttm.financial/m/news/2161740015?lang=en_US&edition=fundamental","pubTime":"2021-08-23 08:50","market":"sh","language":"zh","title":"The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.","url":"https://stock-news.laohu8.com/highlight/detail?id=2161740015","media":"经济参考报","summary":"8月LPR报价与7月持平，这也是自去年5月以来，LPR连续16个月保持不变。不过，业内人士表示，贷款实际利率还有进一步下行空间。中国民生银行首席研究员温彬表示，LPR报价由MLF利率和银行点差两部分构成。展望未来，尽管本月LPR报价未发生调整，但多数业内人士表示，贷款实际利率还有进一步下行空间，实体经济融资成本将稳中有降。王青判断企业贷款利率还有进一步下行空间。","content":"<p><div>The People's Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) on August 20, 2021 was as follows: the 1-year LPR was 3.85%, and the 5-year LPR was 4.65%. The LPR quoted in August was the same as in July, marking the 16th consecutive month that the LPR has remained unchanged since May of last year. However, industry insiders say that there is still room for further decline in actual loan interest rates. Wen Bin, chief researcher at China Minsheng Bank, said that the LPR quote consists of two parts: the MLF rate and the bank spread. On August 16th of this year, the People's Bank of China reduced the amount of MLF (Medium-term Lending Facility) to renew its maturing</p><p><a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">Web page link</a></div></p>","source":"highlight_huanqiu","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">经济参考报</strong><span class=\"h-time small\">2021-08-23 08:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>The People's Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) on August 20, 2021 was as follows: the 1-year LPR was 3.85%, and the 5-year LPR was 4.65%. The LPR quoted in August was the same as in July, marking the 16th consecutive month that the LPR has remained unchanged since May of last year. However, industry insiders say that there is still room for further decline in actual loan interest rates. Wen Bin, chief researcher at China Minsheng Bank, said that the LPR quote consists of two parts: the MLF rate and the bank spread. On August 16th of this year, the People's Bank of China reduced the amount of MLF (Medium-term Lending Facility) to renew its maturing</p><p><a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">Web page link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">经济参考报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f0a9ed39cda4effa668effe35572e5c","relate_stocks":{},"source_url":"https://finance.huanqiu.com/article/44T2SXSJSdW","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161740015","content_text":"中国人民银行授权全国银行间同业拆借中心公布，2021年8月20日贷款市场报价利率（LPR）为：1年期LPR为3.85%，5年期以上LPR为4.65%。8月LPR报价与7月持平，这也是自去年5月以来，LPR连续16个月保持不变。不过，业内人士表示，贷款实际利率还有进一步下行空间。\n中国民生银行首席研究员温彬表示，LPR报价由MLF利率和银行点差两部分构成。今年8月16日，央行缩量续做到期的MLF（中期借贷便利），利率维持在2.95%的水平，预示着LPR大概率保持不变。另外，虽然7月15日降准释放长期资金，有利于降低银行负债成本，但银行负债整体压力仍然较大，尚不足以驱动银行点差部分压降。\n“全面降准对降低银行负债端资金成本有一定作用，但截至目前，其下降幅度尚不足以促使报价行下调LPR报价0.05个百分点（0.05个百分点为LPR报价最小调整步长）。这是7月15日全面降准落地后，LPR报价连续两个月维持原有水平的一个直接原因。”东方金诚首席宏观分析师王青说。\n展望未来，尽管本月LPR报价未发生调整，但多数业内人士表示，贷款实际利率还有进一步下行空间，实体经济融资成本将稳中有降。\n光大证券固定收益首席分析师张旭表示，前期一系列压降银行负债成本的政策给降低贷款实际利率提供了空间。“比如，存款利率自律上限确定方式改为在存款基准利率上加点确定，并于6月21日正式实施；结构性存款规模持续压降，全国性银行6月末余额为6.04万亿元，已较去年同期大幅压降44.2%等。”他说。\n王青判断企业贷款利率还有进一步下行空间。他说，降准效应下，近期包括DR007、10年期国债收益率、1年期商业银行（AAA级）同业存单到期收益率等关键市场利率出现不同幅度下行，在前期监管层着力打破利率双轨制的背景下，三季度企业贷款利率也会在一定程度上随之下行，政策红利会进一步向企业融资成本传导。\n温彬表示，下一阶段，要做好宏观政策的跨周期调节，积极的财政政策将持续发力，财政支出进度加快，有助于改善市场流动性。货币政策将在稳健基础上，通过多种货币政策工具组合保持流动性合理充裕，预计政策利率短期内保持稳定，将继续释放LPR改革潜力，降低银行负债成本，引导金融机构降低实际贷款利率，促进实体经济融资成本稳中有降。","news_type":1,"symbols_score_info":{"ZBmain":0.9,"UBmain":0.9,"TNmain":0.9,"ZNmain":0.9,"ZTmain":0.9,"ZFmain":0.9}},"isVote":1,"tweetType":1,"viewCount":5117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835011359,"gmtCreate":1629680818171,"gmtModify":1676530094778,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835011359","repostId":"2161740015","repostType":4,"repost":{"id":"2161740015","kind":"highlight","pubTimestamp":1629679840,"share":"https://ttm.financial/m/news/2161740015?lang=en_US&edition=fundamental","pubTime":"2021-08-23 08:50","market":"sh","language":"zh","title":"The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.","url":"https://stock-news.laohu8.com/highlight/detail?id=2161740015","media":"经济参考报","summary":"8月LPR报价与7月持平，这也是自去年5月以来，LPR连续16个月保持不变。不过，业内人士表示，贷款实际利率还有进一步下行空间。中国民生银行首席研究员温彬表示，LPR报价由MLF利率和银行点差两部分构成。展望未来，尽管本月LPR报价未发生调整，但多数业内人士表示，贷款实际利率还有进一步下行空间，实体经济融资成本将稳中有降。王青判断企业贷款利率还有进一步下行空间。","content":"<p><div>The People's Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) on August 20, 2021 was as follows: the 1-year LPR was 3.85%, and the 5-year LPR was 4.65%. The LPR quoted in August was the same as in July, marking the 16th consecutive month that the LPR has remained unchanged since May of last year. However, industry insiders say that there is still room for further decline in actual loan interest rates. Wen Bin, chief researcher at China Minsheng Bank, said that the LPR quote consists of two parts: the MLF rate and the bank spread. On August 16th of this year, the People's Bank of China reduced the amount of MLF (Medium-term Lending Facility) to renew its maturing</p><p><a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">Web page link</a></div></p>","source":"highlight_huanqiu","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Loan Prime Rate (LPR) has remained unchanged for 16 consecutive months, indicating room for real loan interest rates to decline.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">经济参考报</strong><span class=\"h-time small\">2021-08-23 08:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>The People's Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) on August 20, 2021 was as follows: the 1-year LPR was 3.85%, and the 5-year LPR was 4.65%. The LPR quoted in August was the same as in July, marking the 16th consecutive month that the LPR has remained unchanged since May of last year. However, industry insiders say that there is still room for further decline in actual loan interest rates. Wen Bin, chief researcher at China Minsheng Bank, said that the LPR quote consists of two parts: the MLF rate and the bank spread. On August 16th of this year, the People's Bank of China reduced the amount of MLF (Medium-term Lending Facility) to renew its maturing</p><p><a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">Web page link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.huanqiu.com/article/44T2SXSJSdW\">经济参考报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f0a9ed39cda4effa668effe35572e5c","relate_stocks":{},"source_url":"https://finance.huanqiu.com/article/44T2SXSJSdW","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161740015","content_text":"中国人民银行授权全国银行间同业拆借中心公布，2021年8月20日贷款市场报价利率（LPR）为：1年期LPR为3.85%，5年期以上LPR为4.65%。8月LPR报价与7月持平，这也是自去年5月以来，LPR连续16个月保持不变。不过，业内人士表示，贷款实际利率还有进一步下行空间。\n中国民生银行首席研究员温彬表示，LPR报价由MLF利率和银行点差两部分构成。今年8月16日，央行缩量续做到期的MLF（中期借贷便利），利率维持在2.95%的水平，预示着LPR大概率保持不变。另外，虽然7月15日降准释放长期资金，有利于降低银行负债成本，但银行负债整体压力仍然较大，尚不足以驱动银行点差部分压降。\n“全面降准对降低银行负债端资金成本有一定作用，但截至目前，其下降幅度尚不足以促使报价行下调LPR报价0.05个百分点（0.05个百分点为LPR报价最小调整步长）。这是7月15日全面降准落地后，LPR报价连续两个月维持原有水平的一个直接原因。”东方金诚首席宏观分析师王青说。\n展望未来，尽管本月LPR报价未发生调整，但多数业内人士表示，贷款实际利率还有进一步下行空间，实体经济融资成本将稳中有降。\n光大证券固定收益首席分析师张旭表示，前期一系列压降银行负债成本的政策给降低贷款实际利率提供了空间。“比如，存款利率自律上限确定方式改为在存款基准利率上加点确定，并于6月21日正式实施；结构性存款规模持续压降，全国性银行6月末余额为6.04万亿元，已较去年同期大幅压降44.2%等。”他说。\n王青判断企业贷款利率还有进一步下行空间。他说，降准效应下，近期包括DR007、10年期国债收益率、1年期商业银行（AAA级）同业存单到期收益率等关键市场利率出现不同幅度下行，在前期监管层着力打破利率双轨制的背景下，三季度企业贷款利率也会在一定程度上随之下行，政策红利会进一步向企业融资成本传导。\n温彬表示，下一阶段，要做好宏观政策的跨周期调节，积极的财政政策将持续发力，财政支出进度加快，有助于改善市场流动性。货币政策将在稳健基础上，通过多种货币政策工具组合保持流动性合理充裕，预计政策利率短期内保持稳定，将继续释放LPR改革潜力，降低银行负债成本，引导金融机构降低实际贷款利率，促进实体经济融资成本稳中有降。","news_type":1,"symbols_score_info":{"ZBmain":0.9,"UBmain":0.9,"TNmain":0.9,"ZNmain":0.9,"ZTmain":0.9,"ZFmain":0.9}},"isVote":1,"tweetType":1,"viewCount":5319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125893144,"gmtCreate":1624666797288,"gmtModify":1703843043553,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125893144","repostId":"1193078182","repostType":4,"repost":{"id":"1193078182","kind":"news","pubTimestamp":1624665305,"share":"https://ttm.financial/m/news/1193078182?lang=en_US&edition=fundamental","pubTime":"2021-06-26 07:55","market":"hk","language":"zh","title":"With its dual major IPO approved, can XPeng achieve a win-win situation for both capital and the market?","url":"https://stock-news.laohu8.com/highlight/detail?id=1193078182","media":"锌财经","summary":"距离美国上市不到一年，小鹏汽车又有了大动作。6月24日，据港交所官网显示，小鹏汽车已通过港交所聆讯，将冲刺港交所智能电动车第一股，同时，小鹏汽车也将成为今年首个美国、香港两地双重主要上市中概股。\n一旦","content":"<p>Less than a year after its US listing,<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>Another big move. On June 24, according to the Hong Kong Stock Exchange's official website, XPeng Automotive has passed the Hong Kong Stock Exchange hearing and will strive for a Hong Kong Stock Exchange listing.<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>XPeng Motor Company will become the first Chinese concept stock to be listed in both the United States and Hong Kong this year.</p><p>Once its IPO is successful, XPeng Automobile, which does not pursue gross profit in the short term, hopes to use the funds raised more for the research and development of technological innovations such as autonomous driving and intelligent operating systems.</p><p>Meanwhile, driven by national policies and the entry of numerous technology giants, intelligent vehicles are about to enter a period of rapid growth, and the successful listing of XPeng may become a milestone event in the history of China's intelligent electric vehicle development.</p><p><b>It will become the first emerging Hong Kong stock market.</b></p><p>According to foreign media reports, the international placement of XPeng Automotive, a Chinese intelligent electric vehicle company, has received full subscriptions. According to data from Futu, XPeng Motors' public offering has so far raised HK$997 million, representing an oversubscription of 0.3 times.</p><p>On June 25, XPeng Motor issued an announcement stating that the company will conduct its IPO from June 25 to June 30; The company plans to offer 85 million shares globally, including 4.25 million shares offered in Hong Kong and 80.75 million shares offered internationally, with a 15% over-allotment option. The issue price per share will not exceed HK$180, with trading units of 100 shares per lot, and an entry fee of approximately HK$18,181.39. The Shares are expected to be listed on the Main Board of the Stock Exchange on 7 July.</p><p>According to the Hong Kong Stock Exchange,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Bank of America and Bank of America are the joint sponsors for this transaction. These investment banks helped XPeng Motor Company complete its IPO in the United States last August.</p><p>In August 2020, XPeng went public in the United States with an offering price of $15 per share. Its opening price on the first day was $23.10, an increase of more than 55% from the offering price. At the beginning of its IPO, XPeng set its sights on becoming a company with a market capitalization of hundreds of billions of dollars, and its stock price did indeed develop according to the company's expectations. By the end of November 2020, XPeng Motor Company had once risen to $74.</p><p><img src=\"https://static.tigerbbs.com/ab56716b04b05384b561ebe548a119c5\" tg-width=\"975\" tg-height=\"650\" referrerpolicy=\"no-referrer\"></p><p>According to the regulations of the Hong Kong Stock Exchange, a company needs to meet some \"hard\" requirements for a secondary listing in Hong Kong. First, the industry in which the company operates requires innovation.<a href=\"https://laohu8.com/S/300832\">New industry</a>； Secondly, the company must have a good regulatory compliance record of at least two years on another eligible exchange; Third, a market capitalization of at least HK$40 billion, or a market capitalization of over HK$10 billion and revenue of over HK$1 billion.</p><p>For XPeng Motor Company, which has been listed in the United States for less than a year, this Hong Kong listing constitutes a dual major listing, which requires the company to be jointly regulated by the U.S. Securities and Exchange Commission (SEC) and the Hong Kong Securities and Futures Commission (SFC). It is understood that a dual primary listing is a more stringent listing process than a secondary listing, in which the regulatory authority of the primary listing location has primary regulatory authority.</p><p>To date, it has included<a href=\"https://laohu8.com/S/JD\">JD.com</a>、<a href=\"https://laohu8.com/S/NTES\">NetEase</a>More than 10 Chinese concept stocks, including those listed in Hong Kong, have undergone secondary listings. In the field of car manufacturing, XPeng has also appeared before.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Rumors circulate that Li Auto, one of the three major domestic emerging car manufacturers, will list in Hong Kong.</p><p>In March of this year, Reuters, citing sources familiar with the matter, reported that Nio had contacted<a href=\"https://laohu8.com/S/CS\">Credit Suisse</a>and<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It will issue shares on the Hong Kong Stock Exchange and will also plan to list on the A-share market in the future. And ideals are related to<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>and<a href=\"https://laohu8.com/S/UBS\">UBS</a>The partnership is expected to complete its Hong Kong listing in the third quarter of this year, raising US$1 billion to US$2 billion. At the same time,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Founder Li Xiang once stated that Li Auto does not mind any form of financing, including the secondary market, bank loans, and bond issuance.</p><p>XPeng Motors was the first to pass the Hong Kong Stock Exchange hearing, undoubtedly ahead of the other two emerging electric vehicle manufacturers.</p><p>Zhang Yi, CEO of iiMedia Research, told Zinc Finance that listing in Hong Kong can mitigate the risks of uncertainty in the US capital market, especially the secondary market. At the same time, dual major listings will greatly help companies raise funds, while dual markets can directly enhance XPeng Automobile's influence in domestic and international markets and help expand brand marketing.</p><p><b>Increase R&D investment and play the \"technological innovation card\"</b></p><p>Going public can undoubtedly raise more funds. The use of funds is the most important factor that can truly affect a company's development.</p><p>Reports indicate that XPeng Motors has raised up to $2 billion in this financing round. The company declined to comment. However, according to its prospectus, it will use approximately 45% of the net proceeds to expand the company's product portfolio and develop more advanced technologies; Approximately 35% of the net proceeds will be used to accelerate the company's business expansion by enhancing brand awareness, acquiring customers through omnichannel marketing strategies, and increasing sales and service touchpoints domestically and internationally. Approximately 10% of the net proceeds will be used to enhance production capacity, including expanding production capacity, upgrading production facilities, and developing production technologies; Approximately 10% of the net proceeds were used for general corporate purposes, including working capital.</p><p>This shows that research and development has become a top priority in XPeng Motors' strategic layout. In fact, as a technology-driven company, XPeng has invested heavily in independent research and development, hoping to drive the company's rapid development and even promote the transformation of intelligent electric vehicles through differentiated products and services.</p><p>According to XPeng Motors' previous financial report, XPeng Motors' revenue was 9.7 million yuan, 2.321 billion yuan and 5.844 billion yuan in 2018, 2020 and 2020, respectively. In the first quarter of this year, its revenue was 2.951 billion yuan, an increase of 616.1% compared with the same period last year.</p><p>In terms of R&D expenditure, XPeng Automobile's R&D expenditure was RMB 1.051 billion, RMB 2.07 billion, RMB 1.726 billion and RMB 535 million in 2018-2020 and the first quarter of this year, respectively. Research and development expenses accounted for 89.2%, 29.5% and 18.1% of total revenue in 2019, 2020 and the first quarter of this year, respectively.</p><p>XPeng believes that only through continuous investment in research and development can it maintain its leading position in the field of intelligent electric vehicles. The company will focus on technological innovation and continuously upgrade its autonomous driving, intelligent operating systems, and core vehicle systems.</p><p>In terms of technological innovation, XPeng is currently the only car company in China that has independently developed full-stack autonomous driving technology and applied the software to mass-produced vehicles. Its latest independently developed autonomous driving system, XPILOT 3.0, is the highest level of autonomous driving technology currently used in cars sold on the market.</p><p>Undeniably, in the pursuit of technological innovation, we will also encounter losses due to high R&D costs. XPeng Motor has its own views on this: \"In the long run, a technology-based automotive company should have high gross profits. In the short to medium term, it is wrong to have too high gross profits in the short term. We will adhere to the technology route, follow our own path well, and define our own positioning.\"</p><p>“Companies go through some strategic stages in market cultivation and product development. As long as there are no funding problems, everything else is secondary.” In Zhang Yi’s view, “There is no doubt about XPeng Auto’s financing capabilities.”</p><p>In fact, XPeng Automotive currently has relatively ample funds. As of March 31 this year, the company had a total of RMB 36.2 billion in cash, cash equivalents, restricted funds, short-term deposits, short-term investments and long-term deposits. XPeng expects to deliver 15,500 to 16,000 vehicles in the second quarter, representing a year-on-year increase of 380.2% to 395.7%. Total revenue was between RMB3.4 billion and 3.5 billion, representing a year-on-year increase of 475.5% to 492.4%.</p><p><b>Deepening its focus on intelligent vehicles has attracted significant capital investment.</b></p><p>Currently, the replacement of gasoline-powered vehicles by electric vehicles is an inevitable trend globally, and policies from various countries are favorable to the development of electric vehicles.</p><p>In China, in October 2020, the State Council announced the \"New Energy Vehicle Industry Development Plan (2021–2035)\" (the \"New Energy Vehicle Industry Development Plan\"), which pointed out that the development of new energy vehicles is the only way for China to transform into an automobile powerhouse. The State Council has set a target of increasing the penetration rate of new energy vehicles in China's passenger vehicle market to 20% by 2025, and it is expected that pure electric vehicles will become the mainstream of new energy vehicles in new sales.</p><p>It is worth noting that the Chinese government has put forward a vision for the development of intelligent connected vehicles in its new energy vehicle industry development plan, planning to achieve large-scale commercialization of high-level autonomous driving in specific scenarios by 2025, while also strengthening the research and development of key components and systems for connected vehicles.</p><p>At the 11th China Automotive Forum hosted by the China Association of Automobile Manufacturers recently, Yu Peng, Senior Director of Embedded Systems at XPeng Automotive, said that after smartphones, we have every reason to believe that the next generation of intelligent software and hardware core carriers will definitely be intelligent cars.</p><p>Currently, including<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Many tech giants such as Xiaomi, Didi, and 360 have begun to expand into the field of intelligent vehicles, and software is gradually becoming the new commanding height of intelligent vehicles.</p><p>According to McKinsey research, the automotive software and electrical and electronic components (E/E) market is projected to grow at a compound annual growth rate of 7%, reaching $469 billion by 2030.</p><p>Industry experts predict that by 2025, smart cars + electric vehicles will account for 60% of new cars in China's first-tier cities, with smart cars accounting for more than 50% of them. It is expected that by 2028, intelligent vehicles will enter a period of rapid growth.</p><p>According to Zinc Finance, XPeng has been focusing on intelligent electric vehicles for a long time. As of March 31, 2021, 13,340 smart electric vehicles had been delivered. In April of this year, XPeng released the P5, its third smart electric vehicle, and the company plans to begin mass deliveries of the P5 in the fourth quarter of this year.</p><p>In addition to the P5, XPeng also plans to deliver the mid-cycle facelift of the G3, the G3i, by the end of the third quarter of this year, and plans to launch its fourth intelligent electric vehicle in 2022, an SUV with an advanced autonomous driving system and an enhanced core vehicle system.</p><p>According to Zinc Finance, the accelerated vehicle deliveries mean that XPeng vehicles will officially pass the production ramp-up period and usher in a new round of high-speed growth. In addition, it is particularly worth mentioning that as of the first quarter of this year, XPeng had 172 branded supercharging stations, covering 60 cities. The plan is to build more than 500 self-branded Supercharger stations by the end of this year.</p><p>In terms of software, XPeng is currently the only Chinese automaker that charges separately for its fully self-developed autonomous driving assistance software, with total recognized revenue of 80 million yuan. In the first quarter of 2021, software revenue was 30 million yuan. In the future, the business model of software business revenue will have a clear positive trend in the field of intelligent vehicles.</p><p>According to data from the first quarter of this year, software revenue accounted for 2.5% of XPeng Motors' total revenue. The inclusion of this portion of revenue also improved gross profit margin. As deliveries increase, the software's contribution to the company's revenue and gross profit will continue to rise. XPeng expects software revenue penetration to increase by 1% in the second quarter of this year compared to the first quarter.</p><p>Such relentless efforts in developing the intelligent electric vehicle market have also attracted more capital. Public information shows that since its establishment in 2015, XPeng has successively received...<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>With the support of numerous domestic and international investors, including Group, Xiaomi Group, IDG Capital, Morningside Capital, GGV Capital, Primavera Capital, Hillhouse Capital, and Sequoia China.</p><p><a href=\"https://laohu8.com/S/00017\">New World development</a>Executive Vice Chairman and CEO Andrew Cheng said, “I have always been optimistic about the development of intelligent vehicles, which have unlimited market potential. Since its inception, XPeng Motors has always adhered to independent research and development. It is the only company in mainland China that can deeply integrate its own software and hardware and achieve mass production. Its product development includes innovative technologies such as autonomous driving and advanced voice interaction, bringing more consumers an innovative driving experience that combines safety and a sense of the future. This also prompted me to invest in XPeng Motors.”</p><p>With the support of numerous investors, coupled with the fact that a successful listing in Hong Kong could become a milestone in the history of China's intelligent electric vehicle development, XPeng has even more room for imagination in the future.</p>","source":"lsy1568892980557","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>With its dual major IPO approved, can XPeng achieve a win-win situation for both capital and the market?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWith its dual major IPO approved, can XPeng achieve a win-win situation for both capital and the market?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">锌财经</strong><span class=\"h-time small\">2021-06-26 07:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Less than a year after its US listing,<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>Another big move. On June 24, according to the Hong Kong Stock Exchange's official website, XPeng Automotive has passed the Hong Kong Stock Exchange hearing and will strive for a Hong Kong Stock Exchange listing.<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>XPeng Motor Company will become the first Chinese concept stock to be listed in both the United States and Hong Kong this year.</p><p>Once its IPO is successful, XPeng Automobile, which does not pursue gross profit in the short term, hopes to use the funds raised more for the research and development of technological innovations such as autonomous driving and intelligent operating systems.</p><p>Meanwhile, driven by national policies and the entry of numerous technology giants, intelligent vehicles are about to enter a period of rapid growth, and the successful listing of XPeng may become a milestone event in the history of China's intelligent electric vehicle development.</p><p><b>It will become the first emerging Hong Kong stock market.</b></p><p>According to foreign media reports, the international placement of XPeng Automotive, a Chinese intelligent electric vehicle company, has received full subscriptions. According to data from Futu, XPeng Motors' public offering has so far raised HK$997 million, representing an oversubscription of 0.3 times.</p><p>On June 25, XPeng Motor issued an announcement stating that the company will conduct its IPO from June 25 to June 30; The company plans to offer 85 million shares globally, including 4.25 million shares offered in Hong Kong and 80.75 million shares offered internationally, with a 15% over-allotment option. The issue price per share will not exceed HK$180, with trading units of 100 shares per lot, and an entry fee of approximately HK$18,181.39. The Shares are expected to be listed on the Main Board of the Stock Exchange on 7 July.</p><p>According to the Hong Kong Stock Exchange,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Bank of America and Bank of America are the joint sponsors for this transaction. These investment banks helped XPeng Motor Company complete its IPO in the United States last August.</p><p>In August 2020, XPeng went public in the United States with an offering price of $15 per share. Its opening price on the first day was $23.10, an increase of more than 55% from the offering price. At the beginning of its IPO, XPeng set its sights on becoming a company with a market capitalization of hundreds of billions of dollars, and its stock price did indeed develop according to the company's expectations. By the end of November 2020, XPeng Motor Company had once risen to $74.</p><p><img src=\"https://static.tigerbbs.com/ab56716b04b05384b561ebe548a119c5\" tg-width=\"975\" tg-height=\"650\" referrerpolicy=\"no-referrer\"></p><p>According to the regulations of the Hong Kong Stock Exchange, a company needs to meet some \"hard\" requirements for a secondary listing in Hong Kong. First, the industry in which the company operates requires innovation.<a href=\"https://laohu8.com/S/300832\">New industry</a>； Secondly, the company must have a good regulatory compliance record of at least two years on another eligible exchange; Third, a market capitalization of at least HK$40 billion, or a market capitalization of over HK$10 billion and revenue of over HK$1 billion.</p><p>For XPeng Motor Company, which has been listed in the United States for less than a year, this Hong Kong listing constitutes a dual major listing, which requires the company to be jointly regulated by the U.S. Securities and Exchange Commission (SEC) and the Hong Kong Securities and Futures Commission (SFC). It is understood that a dual primary listing is a more stringent listing process than a secondary listing, in which the regulatory authority of the primary listing location has primary regulatory authority.</p><p>To date, it has included<a href=\"https://laohu8.com/S/JD\">JD.com</a>、<a href=\"https://laohu8.com/S/NTES\">NetEase</a>More than 10 Chinese concept stocks, including those listed in Hong Kong, have undergone secondary listings. In the field of car manufacturing, XPeng has also appeared before.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Rumors circulate that Li Auto, one of the three major domestic emerging car manufacturers, will list in Hong Kong.</p><p>In March of this year, Reuters, citing sources familiar with the matter, reported that Nio had contacted<a href=\"https://laohu8.com/S/CS\">Credit Suisse</a>and<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It will issue shares on the Hong Kong Stock Exchange and will also plan to list on the A-share market in the future. And ideals are related to<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>and<a href=\"https://laohu8.com/S/UBS\">UBS</a>The partnership is expected to complete its Hong Kong listing in the third quarter of this year, raising US$1 billion to US$2 billion. At the same time,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Founder Li Xiang once stated that Li Auto does not mind any form of financing, including the secondary market, bank loans, and bond issuance.</p><p>XPeng Motors was the first to pass the Hong Kong Stock Exchange hearing, undoubtedly ahead of the other two emerging electric vehicle manufacturers.</p><p>Zhang Yi, CEO of iiMedia Research, told Zinc Finance that listing in Hong Kong can mitigate the risks of uncertainty in the US capital market, especially the secondary market. At the same time, dual major listings will greatly help companies raise funds, while dual markets can directly enhance XPeng Automobile's influence in domestic and international markets and help expand brand marketing.</p><p><b>Increase R&D investment and play the \"technological innovation card\"</b></p><p>Going public can undoubtedly raise more funds. The use of funds is the most important factor that can truly affect a company's development.</p><p>Reports indicate that XPeng Motors has raised up to $2 billion in this financing round. The company declined to comment. However, according to its prospectus, it will use approximately 45% of the net proceeds to expand the company's product portfolio and develop more advanced technologies; Approximately 35% of the net proceeds will be used to accelerate the company's business expansion by enhancing brand awareness, acquiring customers through omnichannel marketing strategies, and increasing sales and service touchpoints domestically and internationally. Approximately 10% of the net proceeds will be used to enhance production capacity, including expanding production capacity, upgrading production facilities, and developing production technologies; Approximately 10% of the net proceeds were used for general corporate purposes, including working capital.</p><p>This shows that research and development has become a top priority in XPeng Motors' strategic layout. In fact, as a technology-driven company, XPeng has invested heavily in independent research and development, hoping to drive the company's rapid development and even promote the transformation of intelligent electric vehicles through differentiated products and services.</p><p>According to XPeng Motors' previous financial report, XPeng Motors' revenue was 9.7 million yuan, 2.321 billion yuan and 5.844 billion yuan in 2018, 2020 and 2020, respectively. In the first quarter of this year, its revenue was 2.951 billion yuan, an increase of 616.1% compared with the same period last year.</p><p>In terms of R&D expenditure, XPeng Automobile's R&D expenditure was RMB 1.051 billion, RMB 2.07 billion, RMB 1.726 billion and RMB 535 million in 2018-2020 and the first quarter of this year, respectively. Research and development expenses accounted for 89.2%, 29.5% and 18.1% of total revenue in 2019, 2020 and the first quarter of this year, respectively.</p><p>XPeng believes that only through continuous investment in research and development can it maintain its leading position in the field of intelligent electric vehicles. The company will focus on technological innovation and continuously upgrade its autonomous driving, intelligent operating systems, and core vehicle systems.</p><p>In terms of technological innovation, XPeng is currently the only car company in China that has independently developed full-stack autonomous driving technology and applied the software to mass-produced vehicles. Its latest independently developed autonomous driving system, XPILOT 3.0, is the highest level of autonomous driving technology currently used in cars sold on the market.</p><p>Undeniably, in the pursuit of technological innovation, we will also encounter losses due to high R&D costs. XPeng Motor has its own views on this: \"In the long run, a technology-based automotive company should have high gross profits. In the short to medium term, it is wrong to have too high gross profits in the short term. We will adhere to the technology route, follow our own path well, and define our own positioning.\"</p><p>“Companies go through some strategic stages in market cultivation and product development. As long as there are no funding problems, everything else is secondary.” In Zhang Yi’s view, “There is no doubt about XPeng Auto’s financing capabilities.”</p><p>In fact, XPeng Automotive currently has relatively ample funds. As of March 31 this year, the company had a total of RMB 36.2 billion in cash, cash equivalents, restricted funds, short-term deposits, short-term investments and long-term deposits. XPeng expects to deliver 15,500 to 16,000 vehicles in the second quarter, representing a year-on-year increase of 380.2% to 395.7%. Total revenue was between RMB3.4 billion and 3.5 billion, representing a year-on-year increase of 475.5% to 492.4%.</p><p><b>Deepening its focus on intelligent vehicles has attracted significant capital investment.</b></p><p>Currently, the replacement of gasoline-powered vehicles by electric vehicles is an inevitable trend globally, and policies from various countries are favorable to the development of electric vehicles.</p><p>In China, in October 2020, the State Council announced the \"New Energy Vehicle Industry Development Plan (2021–2035)\" (the \"New Energy Vehicle Industry Development Plan\"), which pointed out that the development of new energy vehicles is the only way for China to transform into an automobile powerhouse. The State Council has set a target of increasing the penetration rate of new energy vehicles in China's passenger vehicle market to 20% by 2025, and it is expected that pure electric vehicles will become the mainstream of new energy vehicles in new sales.</p><p>It is worth noting that the Chinese government has put forward a vision for the development of intelligent connected vehicles in its new energy vehicle industry development plan, planning to achieve large-scale commercialization of high-level autonomous driving in specific scenarios by 2025, while also strengthening the research and development of key components and systems for connected vehicles.</p><p>At the 11th China Automotive Forum hosted by the China Association of Automobile Manufacturers recently, Yu Peng, Senior Director of Embedded Systems at XPeng Automotive, said that after smartphones, we have every reason to believe that the next generation of intelligent software and hardware core carriers will definitely be intelligent cars.</p><p>Currently, including<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Many tech giants such as Xiaomi, Didi, and 360 have begun to expand into the field of intelligent vehicles, and software is gradually becoming the new commanding height of intelligent vehicles.</p><p>According to McKinsey research, the automotive software and electrical and electronic components (E/E) market is projected to grow at a compound annual growth rate of 7%, reaching $469 billion by 2030.</p><p>Industry experts predict that by 2025, smart cars + electric vehicles will account for 60% of new cars in China's first-tier cities, with smart cars accounting for more than 50% of them. It is expected that by 2028, intelligent vehicles will enter a period of rapid growth.</p><p>According to Zinc Finance, XPeng has been focusing on intelligent electric vehicles for a long time. As of March 31, 2021, 13,340 smart electric vehicles had been delivered. In April of this year, XPeng released the P5, its third smart electric vehicle, and the company plans to begin mass deliveries of the P5 in the fourth quarter of this year.</p><p>In addition to the P5, XPeng also plans to deliver the mid-cycle facelift of the G3, the G3i, by the end of the third quarter of this year, and plans to launch its fourth intelligent electric vehicle in 2022, an SUV with an advanced autonomous driving system and an enhanced core vehicle system.</p><p>According to Zinc Finance, the accelerated vehicle deliveries mean that XPeng vehicles will officially pass the production ramp-up period and usher in a new round of high-speed growth. In addition, it is particularly worth mentioning that as of the first quarter of this year, XPeng had 172 branded supercharging stations, covering 60 cities. The plan is to build more than 500 self-branded Supercharger stations by the end of this year.</p><p>In terms of software, XPeng is currently the only Chinese automaker that charges separately for its fully self-developed autonomous driving assistance software, with total recognized revenue of 80 million yuan. In the first quarter of 2021, software revenue was 30 million yuan. In the future, the business model of software business revenue will have a clear positive trend in the field of intelligent vehicles.</p><p>According to data from the first quarter of this year, software revenue accounted for 2.5% of XPeng Motors' total revenue. The inclusion of this portion of revenue also improved gross profit margin. As deliveries increase, the software's contribution to the company's revenue and gross profit will continue to rise. XPeng expects software revenue penetration to increase by 1% in the second quarter of this year compared to the first quarter.</p><p>Such relentless efforts in developing the intelligent electric vehicle market have also attracted more capital. Public information shows that since its establishment in 2015, XPeng has successively received...<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>With the support of numerous domestic and international investors, including Group, Xiaomi Group, IDG Capital, Morningside Capital, GGV Capital, Primavera Capital, Hillhouse Capital, and Sequoia China.</p><p><a href=\"https://laohu8.com/S/00017\">New World development</a>Executive Vice Chairman and CEO Andrew Cheng said, “I have always been optimistic about the development of intelligent vehicles, which have unlimited market potential. Since its inception, XPeng Motors has always adhered to independent research and development. It is the only company in mainland China that can deeply integrate its own software and hardware and achieve mass production. Its product development includes innovative technologies such as autonomous driving and advanced voice interaction, bringing more consumers an innovative driving experience that combines safety and a sense of the future. This also prompted me to invest in XPeng Motors.”</p><p>With the support of numerous investors, coupled with the fact that a successful listing in Hong Kong could become a milestone in the history of China's intelligent electric vehicle development, XPeng has even more room for imagination in the future.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/4eGXa4d8XiymQjk2xY3Q8w\">锌财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8a7cf240033f083a329240e6179df017","relate_stocks":{"XPEV":"小鹏集团","09868":"小鹏集团-W"},"source_url":"https://mp.weixin.qq.com/s/4eGXa4d8XiymQjk2xY3Q8w","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193078182","content_text":"距离美国上市不到一年，小鹏汽车又有了大动作。6月24日，据港交所官网显示，小鹏汽车已通过港交所聆讯，将冲刺港交所智能电动车第一股，同时，小鹏汽车也将成为今年首个美国、香港两地双重主要上市中概股。\n一旦上市成功，短期内并不追求毛利的小鹏汽车希望将筹集到的资金更多的用在自动驾驶、智能操作系统等科技创新的研发上。\n同时，在国家政策推动下，以及众多科技巨头的入局，智能汽车即将进入快速增长期，小鹏汽车的成功上市，或将成为中国智能电动汽车发展史的一个里程碑事件。\n将成为首个新势力港股\n据外媒报道，中国智能电动汽车公司小鹏汽车国际配售部分已录得足额认购。据富途数据显示，小鹏汽车公开发售暂募资9.97亿港元，超购0.3倍。\n6月25日，小鹏汽车发布公告称，公司于6月25日至6月30日招股；拟全球发售8500万股股份，其中香港发售股份425万股，国际发售股份8075万股，另有15%超额配股权；每股发行价不超过180港元，每手买卖单位100股，入场费约18181.39港元；预期股份将于7月7日于联交所主板挂牌上市。\n据港交所消息显示，摩根大通和美银为此次联席保荐人，这些投行曾在去年8月帮助小鹏汽车完成赴美上市事宜。\n2020年8月，小鹏汽车以15美元/股的发行价在美国上市，其首日开盘价为23.1美元，较发行价上涨幅度超过55%。上市之初，小鹏汽车将目标定为成为一家千亿美元市值的公司，其股价也确实按照该公司的预期发展，2020年11月底，小鹏汽车一度涨至74美元。\n\n此次据港交所的规定，公司赴港二次上市需要满足一些“硬性”要求。首先，公司所处行业要求是创新产业；其次，公司必须在另一家符合条件的交易所至少有两年的良好监管合规记录；第三，市值至少超过400亿港元，或者市值超过100亿港元且收入超过10亿港元。\n对于赴美上市还不到一年的小鹏汽车而言，此次香港上市属于双重主要上市行为，为此该公司需要受到美国证券交易委员会(SEC)和香港证券及期货事务监察委员会(SFC)的共同监管。据悉，双重主要上市是比二次上市更严格的上市过程，在二次上市中，第一上市地点的监管机构拥有主要监管权。\n截止目前，已有包括京东、网易等10多家中概股在香港二次上市。在造车方面，此前也曾出现过小鹏、蔚来、理想国内三大造车新势力在香港上市的传闻。\n今年3月，路透社曾援引知情人士消息称，蔚来已联系瑞士信贷和摩根士丹利，将在港股发行股票，未来还将筹划登陆A股市场。而理想则与高盛和瑞银进行合作，预计在今年第三季度完成香港上市，募资10亿-20亿美元。同时，理想汽车创始人李想曾表示，理想不介意任何一种方式的融资，包括二级市场、银行贷款和发债等。\n此次小鹏汽车率先通过港交所聆讯，无疑跑在了其他两家造车新势力的前面。\n艾媒咨询CEO张毅告诉锌财经，在香港上市，可以分摊美国资本市场尤其是二级市场不确定性的风险；同时，双重主要上市对企业融资会有很大的帮助，而双市场可以直接提升小鹏汽车在国内外市场的影响，有助于扩大品牌营销。\n加大研发投入打好“科技创新牌”\n企业上市，无疑可以筹集到更多的资金。而资金的用法，才是真正可以影响到企业发展的重中之重。\n有消息称，此次小鹏汽车融资规模最多为20亿美元。对此，该公司不予置评。但据其招股书显示，将所得款项净额中约45%用于拓展公司的产品组合及开发更先进的技术；所得款项净额中约35%用于通过提升公司的品牌认知度，借助全渠道营销策略获取客户，以及在国内及国际上增加销售及服务接触点，来加速公司的业务扩张；所得款项净额中约10%用于提升生产能力，包括扩大产能、升级生产设施和开发生产技术；所得款项净额中约10%用于一般公司用途，包括用作运营资金。\n从中可见，研发已成为小鹏汽车战略布局的重中之重。事实上，作为一家技术驱动型公司，小鹏汽车已投入大量资金用于自主研发技术，希望凭借差异化的产品和服务推动公司的快速发展，乃至推动智能电动汽车转型。\n据小鹏汽车此前发布的财报显示，在2018-2020年，小鹏汽车营收分别为970万元、23.21亿元和58.44亿元。今年第一季度，其营收29.51亿元，较去年同期增长616.1%。\n研发开支方面，在2018年-2020年及今年第一季度，小鹏汽车研发开支分别为10.51亿元、20.70亿元、17.26亿元及5.35亿元。在2019年、2020年及今年第一季度，研发开支分别占总收入的89.2%、29.5%及18.1%。\n小鹏汽车认为，只有凭借对研发的持续投资，才能保持在智能电动汽车领域的领先地位。公司将专注于技术创新，不断升级自动驾驶、智能操作系统以及核心车辆系统。\n在技术创新方面，小鹏汽车是目前国内唯一一家自主开发全栈式自动驾驶技术，并在量产汽车上应用该软件的汽车公司。其最新自主研发的自动驾驶系统XPILOT 3.0是目前市场上所售汽车中已采用的最高水平自动驾驶技术。\n不可否认的是，在追求技术创新的路上也会遇到因高额研发成本带来的亏损问题，对此，小鹏汽车有着自己看法：“从长期来看，一个科技型的汽车企业应该是有很高毛利的企业。从短中期来看，短期有太高的毛利是错误的。我们会坚持走科技路线，走好自己的道路，做好自己的定位。”\n“企业在市场培育和产品打造上会经历一些战略性阶段，只要资金不出现问题其余都是其次的。”在张毅看来，“在小鹏汽车的融资能力是不用怀疑的。”\n实际上，目前小鹏汽车资金也较为充足。截至今年3月31日，公司拥有现金、现金等价物、受限资金、短期存款、短期投资和长期存款为共计人民币362亿元。小鹏预计，第二季度公司车辆交付量为1.55万至1.6万辆，同比增长380.2％至395.7％；总收入在人民币34亿元至35亿元之间，同比增长475.5％至492.4％。\n深耕智能汽车引众多资本加持\n时下，在全球范围内，电动汽车替代燃油车已是大势所趋，各国政策都利好电动汽车发展。\n在国内，2020年10月，国务院公布了《新能源汽车产业发展规划(2021–2035)》（「新能源汽车产业发展规划」），指出发展新能源汽车是中国转型为汽车强国的必由之路。国务院已经设定到2025年将新能源汽车在中国乘用车市场的渗透率提高到20%的目标，预期纯电动汽车会成为新销售车辆中新能源汽车的主流。\n值得注意的是，我国政府在新能源汽车产业发展规划中提出了智能互联汽车的发展愿景，计划在2025年前实现特定场景下高级别自动驾驶的大规模商业化，同时还加强互联车辆关键零部件和系统的研发。\n在前不久中国汽车工业协会主办的第11届中国汽车论坛上，小鹏汽车嵌入式高级总监余鹏表示，智能手机之后，我们非常有理由相信，下一代全新的智能软硬件核心载体，一定会是智能汽车。\n目前，包括百度、小米、滴滴、360等众多科技巨头开始布局智能汽车领域，软件已经在逐渐成为智能汽车的全新制高点。\n据麦肯锡的调查显示，汽车软件和电气电子元件（E/E）市场预计复合年增长率为 7%，该市场将在2030 年增长至4690 亿美元。\n有业内专家预计，到2025年，在中国一线城市智能汽车+电动汽车在新车中占比将达60%，其中，智能汽车占到50%以上。预计到2028年，智能汽车会进入到急速的跳跃时期。\n据锌财经了解到，小鹏汽车很早之前就开始发力智能电动汽车。截至2021年3月31日，智能电动汽车已交付量13340辆。今年4月，小鹏汽车发布了P5，这是其第三款智能电动汽车，该公司计划在今年第四季度开始批量交付P5。\n除了P5，小鹏汽车还计划在今年第三季度末交付G3的中期改款版G3i，并计划在2022年推出旗下第四款智能电动汽车，这是一款具备高级自动驾驶系统和加强版核心车辆系统的SUV。\n在锌财经看来，车辆交付的加速，意味着小鹏汽车将正式渡过产量爬坡期，迎来新一轮的高速增长。此外，特别值得一提的是，截至今年第一季度，小鹏品牌超充站172座，覆盖60个城市。计划至今年年底建设超过500个自有品牌超级充电站。\n软件方面，小鹏汽车目前是中国唯一一家实现全栈自研的自动辅助驾驶软件单独收费的汽车企业，总计确认收入8000万，在2021年第一季度，软件收入为3000万元。未来，软件业务收入的商业模式在智能汽车领域会有明显的利好趋势。\n从今年第一季度的数据看，软件收入占了小鹏汽车总收入的2.5%。而该部分收入的计入也提升了毛利率。随着交付量的增加，接下来软件对公司的营收及毛利贡献度将持续提升。小鹏汽车预计，在今年第二季度软件收入的渗透率会比第一季度提高1%。\n如此不遗余力的布局智能电动汽车市场，也换来更多资本的青睐。公开资料显示，小鹏汽车自2015年成立以来，先后获得了阿里巴巴集团、小米集团、IDG资本、晨兴资本、GGV纪源资本、春华资本、高瓴资本、 红杉中国等国内外众多投资者的支持。\n新世界发展执行副主席兼行政总裁郑志刚表示：“我一直看好智能汽车发展，当中的市场潜力无限，而小鹏汽车从创立至今，一直坚持自主研发，是中国内地唯一一家能够将自家研发的软件、硬件深度整合，并且做到量产落地的企业；当中的产品研发包括自动驾驶、高级语音交互等创新技术，为更多消费者带来安全性与未来感兼备的创新驾驶体验，这也促成我投资小鹏汽车。”\n在众多资本的支持下，再加上此次若成功在香港上市，或将成为中国智能电动汽车发展史的一个里程碑事件，小鹏汽车未来还会更多的想象空间。","news_type":1,"symbols_score_info":{"09868":0.9,"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":3630,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112832115,"gmtCreate":1622859485537,"gmtModify":1704192569138,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/112832115","repostId":"1166736358","repostType":4,"isVote":1,"tweetType":1,"viewCount":1618,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112172260,"gmtCreate":1622858114850,"gmtModify":1704192528275,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112172260","repostId":"2141400304","repostType":4,"repost":{"id":"2141400304","kind":"news","pubTimestamp":1622854462,"share":"https://ttm.financial/m/news/2141400304?lang=en_US&edition=fundamental","pubTime":"2021-06-05 08:54","market":"us","language":"zh","title":"Microsoft's $16 billion acquisition of Nuance has been granted U.S. antitrust permission","url":"https://stock-news.laohu8.com/highlight/detail?id=2141400304","media":"新浪科技","summary":"北京时间6月5日上午消息，据报道，根据最近人工智能与语音技术公司Nuance向政府提交的文件，微软收购Nuance的这笔交易，已经获得美国的反垄断许可。今年四月份，微软正式公开了这笔160亿美元的交易","content":"<p>According to reports on the morning of June 5th, Beijing time, based on documents recently submitted to the government by artificial intelligence and voice technology company Nuance,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>The acquisition of Nuance has received antitrust approval from the United States.</p><p>In April of this year, Microsoft officially announced the $16 billion deal. Prior to this, the two companies had already cooperated on automated medical management (such as document archiving) in 2019.</p><p>In a filing with the U.S. Securities and Exchange Commission on Friday, Nuance stated that the deadline for the U.S. government to object to the transaction is June 1. Nuance stated that the expiration of this date \"meets one of the conditions for completing the transaction.\"</p><p>A Microsoft spokesperson previously stated that regulators in other jurisdictions were reviewing the acquisition and expected it to close by the end of 2021.</p>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft's $16 billion acquisition of Nuance has been granted U.S. antitrust permission</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicrosoft's $16 billion acquisition of Nuance has been granted U.S. antitrust permission\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技</strong><span class=\"h-time small\">2021-06-05 08:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to reports on the morning of June 5th, Beijing time, based on documents recently submitted to the government by artificial intelligence and voice technology company Nuance,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>The acquisition of Nuance has received antitrust approval from the United States.</p><p>In April of this year, Microsoft officially announced the $16 billion deal. Prior to this, the two companies had already cooperated on automated medical management (such as document archiving) in 2019.</p><p>In a filing with the U.S. Securities and Exchange Commission on Friday, Nuance stated that the deadline for the U.S. government to object to the transaction is June 1. Nuance stated that the expiration of this date \"meets one of the conditions for completing the transaction.\"</p><p>A Microsoft spokesperson previously stated that regulators in other jurisdictions were reviewing the acquisition and expected it to close by the end of 2021.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://tech.sina.cn/i/gj/2021-06-05/detail-ikqcfnaz9207589.d.html?vt=4\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/055c7812061d918cb8dbc486a1ec6b48","relate_stocks":{"MSFT":"微软"},"source_url":"https://tech.sina.cn/i/gj/2021-06-05/detail-ikqcfnaz9207589.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141400304","content_text":"北京时间6月5日上午消息，据报道，根据最近人工智能与语音技术公司Nuance向政府提交的文件，微软收购Nuance的这笔交易，已经获得美国的反垄断许可。今年四月份，微软正式公开了这笔160亿美元的交易。在此之前，两家公司已经在2019年就自动化医疗管理工作（比如文件归档等）进行合作。在周五提交给美国证券交易委员会的文件中，Nuance表示，美国政府对该交易提出反对的截止日期为6月1日。Nuance称，该日期到期“满足了完成交易的条件之一”。微软发言人之前在一份声明中表示，其他司法管辖区的监管机构正在审查这笔收购交易，并预期交易将于2021年底完成。","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":1712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151034389,"gmtCreate":1625056864541,"gmtModify":1703734989575,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/151034389","repostId":"1124821132","repostType":4,"isVote":1,"tweetType":1,"viewCount":3724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159837189,"gmtCreate":1624954929741,"gmtModify":1703848748063,"author":{"id":"3585803365128858","authorId":"3585803365128858","name":"Jun Yee","avatar":"https://static.tigerbbs.com/0754ef9c1dfeb0bb908c0592c33ea546","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585803365128858","authorIdStr":"3585803365128858"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159837189","repostId":"1138372330","repostType":4,"repost":{"id":"1138372330","kind":"news","pubTimestamp":1624953281,"share":"https://ttm.financial/m/news/1138372330?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:54","market":"us","language":"zh","title":"Netflix's Next Step: Becoming Disney?","url":"https://stock-news.laohu8.com/highlight/detail?id=1138372330","media":"极客公园","summary":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix ","content":"<p>Faced with a major counterattack by film and television giants, Netflix has already started to make money, but this is far from enough.</p><p>Netflix Start Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>That's it.</p><p>Just as iYoo and Tencent were still competing with the short video industry, the already profitable Netflix launched Netflix Shop, entering the e-commerce field for the first time.</p><p>The Netflix Shop currently has a limited number of items available, only 18. Among them are as high as $135.<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, $30 T-shirts, but mostly clothing priced between $30 and $80. In the future, Netflix will also launch series of products such as \"Stranger Things\" and \"Witcher\".</p><p><b>What these products have in common is that they are all peripheral products of Netflix's IP.</b></p><p>This inevitably brings to mind Disney, a top player in the IP licensing market. According to data from the International Licensing Industry Association (LIMA), global sales of licensed merchandise reached $292.8 billion in 2019. Disney, ranked first, accounted for $54.7 billion, a figure twice Netflix's total revenue in 2020.</p><p>Clearly, Netflix is targeting the IP licensing pie. Behind this lies Netflix's hidden concerns and ambitions.</p><p><b>Netflix's hidden concerns</b></p><p>2020 was almost the best year since Netflix was born. Due to the pandemic and people staying at home, many people have shifted their entertainment activities online. As a result, Netflix gained 37 million paying subscribers, breaking the company's growth record, and the total number of paying subscribers also historically exceeded 200 million. Correspondingly, full-year profits increased by 76%.</p><p>This company, which was founded in the DVD rental business, timely shifted to the streaming business at the end of the golden age of television. Since then, it has achieved double-digit growth in paying users every year.</p><p><b>As a company with a market capitalization of $230 billion, Netflix's business model is extremely simple—producing high-quality content to attract consumers to pay for subscriptions.</b>In 2019, 98.52% of Netflix's revenue came from membership fees. By analogy with domestic long-form video platforms<a href=\"https://laohu8.com/S/IQ\">iQiyi</a>Membership fees account for only about 50% of its total revenue, with the rest mainly coming from online advertising and content distribution. It can be said that Netflix's revenue growth depends entirely on the growth of its users.<b>The other side of this statement is that if paying users cannot continue to grow, Netflix's business model will face a crisis.</b></p><p>Netflix, a pioneer of streaming platforms and with the largest user base, may have hit its user ceiling sooner. Streaming platforms are essentially robbing pay-TV users. Taking the US pay TV market as an example, after reaching a peak of 101 million paid subscribers in 2011, it has been declining year by year. Netflix currently has approximately 67 million users in the United States, meaning that more than half of its potential users have already paid for Netflix. In the first quarter of 2021, Netflix added only 4 million new users, lower than the expected 6 million, and its stock price fell by 11%.</p><p>A poor quarterly performance isn't a serious problem for Netflix; what's truly damaging is that its market share may be being eroded by competitors.</p><p>In response to revenue pressure from slowing user growth, Netflix has raised membership fees five times. The most recent incident occurred in October 2020, when the basic plan remained unchanged at $8.99, while the standard and basic plans increased by $1 and $2 respectively to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for over a decade, HBO NOW ($14.99 ad-free) and HULU ($11.99 ad-free), but it is comparable to Disney.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared to these ambitious new generation entrants, they have little advantage. Disney+ costs just $7.99 a month, and Apple TV+ costs even less at just $4.99.</p><p>The past year has been almost a period of global streaming, with giants Disney, Apple, and Paramount entering the market one after another.</p><p>During the first quarter earnings call, when asked about his views on the current competition, Netflix founder Reed Hastings responded: \"Obviously, new competition is always there. But when we look at past data, the company has been growing because we are also very confident.\"</p><p>The confidence of the founders is one aspect, but the encroachment of Netflix by the giants is also real. In 2020, Netflix's market share of original programming fell from 56% at the beginning of the year to 50%.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global market share of original programs. Data Source Parrot Analytics. Image source:<a href=\"https://laohu8.com/S/NYT\">New York times</a></p><p>Behind this lies the loss of content from Netflix. Due to the launch of Disney+, Netflix removed a series of Disney IP content from its platforms. HBO also regained the copyrights to works such as \"Friends,\" \"The Big Bang Theory,\" and Studio Ghibli. Similarly, the veteran sitcom \"The Office\" has also been reclaimed by NBC.</p><p>Netflix original dramas account for only 30% of the total viewing time of subscribers, with the rest coming from external copyrights. According to data from CBN magazine, the top three longest-running Netflix shows in 2018 were \"The Office,\" \"Friends,\" and \"Grey's Anatomy.\" New content may be key to driving user growth, but existing viewers tend to choose works they are familiar with.</p><p>Netflix, which has been focusing on original content, has withdrawn most of its production plans due to the pandemic. Currently, Netflix does not have any major return series.</p><p>Netflix's model is somewhat like a one-off deal. After watching a series, users no longer have contact with it. Netflix's Stranger Things and House of Cards have a large number of die-hard fans, but a single subscription payment model cannot fully tap into the value of these IPs. This creates a strange phenomenon: on one side are fans holding banknotes and shouting \"Shut up and take my money,\" while on the other side are official fans who remain \"indifferent.\"</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Image source: memegenetator</p><p>Last year, Netflix's original documentary \"Tiger King\" was watched by 34.3 million people within 10 days of its release, making it Netflix's most successful series. A large number of Tiger King merchandise immediately appeared on the e-commerce brand Esty. But without exception, they were all counterfeits.</p><p>A search for \"Tiger King\" on Esty still yields 8195 results. Image source: Esty</p><p>This makes it easy to understand why Netflix launched an online store. On Netflix's official blog, Josh Simon, head of the Netflix Shop and vice president of consumer products, wrote:<b>We like to see good stories go beyond the screen and become a part of people's lives.</b>」「<b>We've been thinking about how to expand our story world for our fans, from costumes and toys to immersive events and games.</b>That's why today we're launching Netflix.shop, an exciting new destination that combines curated products and rich stories into a unique Netflix shopping experience.</p><p>These words are all about one thing:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man went to a hotel and approached Walter Disney, offering $300 to have Mickey Mouse's image printed on his desk. This $300 became Disney's first \"franchise\" revenue. Nearly a century later, that $300 became a $54.7 billion business.</p><p>Flipping through Disney's list of IPs, you'll find it's an almost endless list. In addition to its own original IPs, such as Mickey Mouse, Winnie the Pooh, Disney princesses, and The Lion King, Disney also aggressively acquired Pixar, Marvel, Lucasfilm, and 20th Century Fox in the first 20 years of the 21st century. In other words, apart from Mickey Mouse, all the IPs you are familiar with, such as the Avengers, Star Wars, Avatar, and Toy Story, belong to Disney.</p><p>Family portraits of Disney IP characters. Image source: psu.edu</p><p>According to TitleMax's 2019 data, eight of the world's 20 most profitable IPs originated from Disney, with a cumulative economic value of $355.182 billion. Winnie the Pooh, Mickey Mouse, and Star Wars ranked 3rd, 4th, and 5th respectively. These old IPs, which are over 40 years old or even nearly a century old, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The remaining Disney IPs in the TOP 20 are Disney Princesses at number 7, the Marvel Cinematic Universe at number 11, Spider-Man at number 12, Car Story at number 18, and Toy Story at number 19. Image source: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>Films themselves may not make money, but they must drive the development of related products.</b>。 Walt Disney clearly understood this well. As early as 1957, he drew a sketch that clearly described Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model drawn by Walt Disney. Image source: kottke.org</p><p>In this sketch, film studios are clearly central, with music, television, licensed merchandise, theme parks, and publications all surrounding them. Take magazines, for example. Movies provide articles for magazines, and magazines can promote movies and Disneyland. Each part is closely linked, cooperates with each other, and complements each other.</p><p>To this day, Disney has not deviated from the underlying logic of this model. Disney never views its animated characters as disposable consumer goods, but rather as a gold mine for long-term consumption. When Disney makes a movie, the company doesn't just consider the movie itself, but how to translate the story into goods, services, experiences, and other derivative products. As former Disney CFO Jay Rasulo said, \"Every aspect of the company is brand- and franchise-oriented.\"</p><p>Today, Disney's model is called<b>Round revenue</b>。</p><p>First, Disney will release movies centered on IP stories at high costs to earn its first round of revenue through box office revenue.</p><p>Disney will then sell the film rights to streaming platforms to earn a second round of revenue.</p><p>Meanwhile, with each new movie released, Disney adds corresponding new characters to the theme park, generating a third round of revenue through Disneyland.</p><p>Finally, earn the fourth round of income through franchising, publishing, retail, etc.</p><p>Through these four rounds of revenue generation, Disney has clearly \"squeezed out\" the profits from every IP. These diverse revenue streams give Disney a key advantage over Netflix, further extending the vitality of its IPs.</p><p><b>Build love for stories and turn love into money</b></p><p>Unlike Disney, Netflix has no plans to establish offline stores. Currently, Netflix has partnered with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Retailers such as H&M and Sephora have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online store system with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times, and Kim Kardashian's brand Skims.</p><p>Simon, the project leader at Netflix Shop, spent six years at Disney Studios as the production and development director.</p><p>This information seems to demonstrate Netflix's determination: \"Hey! We're not just playing around, we're serious!\"</p><p>For years, Netflix has avoided whether it is an entertainment or technology company. Just recently, Netflix founder Hastings declared, \"We really are an entertainment company.\"</p><p>According to Matthew Ball, a former Amazon Studio executive,<b>Essentially, an entertainment company does only three things:</b></p><p><ol><li><b>Creating/Telling Stories</b></p><p></li><li><b>Build love for these stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By this standard, Disney is undoubtedly the best company on the planet. Think about it, how many little girls want to wear Elsa's blue dress while visiting Disneyland? How many parents would pay for this?</p><p>Netflix has done a good enough job of storytelling and building love, but can it turn love into money?</p><p>Mark A. Cohen, director of retail research at Columbia Business School, expressed skepticism: \"Most of them (Netflix's hit shows) have a short shelf life, unlike Disney's IP, which is a long journey of a generation.\"</p><p>Despite a great deal of uncertainty, this is undoubtedly Netflix's best financial year yet. The company has borrowed a total of $16 billion over the past 10 years. At the end of last year, Netflix stated in its fourth-quarter earnings report that it no longer needed to seek borrowing to finance the company. In other words, Netflix has become a truly profitable company.</p><p>Meanwhile, its other streaming competitors are still losing money, including Disney.</p>","source":"jkgy","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>Netflix's Next Step: Becoming Disney?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNetflix's Next Step: Becoming Disney?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">极客公园</strong><span class=\"h-time small\">2021-06-29 15:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Faced with a major counterattack by film and television giants, Netflix has already started to make money, but this is far from enough.</p><p>Netflix Start Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>That's it.</p><p>Just as iYoo and Tencent were still competing with the short video industry, the already profitable Netflix launched Netflix Shop, entering the e-commerce field for the first time.</p><p>The Netflix Shop currently has a limited number of items available, only 18. Among them are as high as $135.<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, $30 T-shirts, but mostly clothing priced between $30 and $80. In the future, Netflix will also launch series of products such as \"Stranger Things\" and \"Witcher\".</p><p><b>What these products have in common is that they are all peripheral products of Netflix's IP.</b></p><p>This inevitably brings to mind Disney, a top player in the IP licensing market. According to data from the International Licensing Industry Association (LIMA), global sales of licensed merchandise reached $292.8 billion in 2019. Disney, ranked first, accounted for $54.7 billion, a figure twice Netflix's total revenue in 2020.</p><p>Clearly, Netflix is targeting the IP licensing pie. Behind this lies Netflix's hidden concerns and ambitions.</p><p><b>Netflix's hidden concerns</b></p><p>2020 was almost the best year since Netflix was born. Due to the pandemic and people staying at home, many people have shifted their entertainment activities online. As a result, Netflix gained 37 million paying subscribers, breaking the company's growth record, and the total number of paying subscribers also historically exceeded 200 million. Correspondingly, full-year profits increased by 76%.</p><p>This company, which was founded in the DVD rental business, timely shifted to the streaming business at the end of the golden age of television. Since then, it has achieved double-digit growth in paying users every year.</p><p><b>As a company with a market capitalization of $230 billion, Netflix's business model is extremely simple—producing high-quality content to attract consumers to pay for subscriptions.</b>In 2019, 98.52% of Netflix's revenue came from membership fees. By analogy with domestic long-form video platforms<a href=\"https://laohu8.com/S/IQ\">iQiyi</a>Membership fees account for only about 50% of its total revenue, with the rest mainly coming from online advertising and content distribution. It can be said that Netflix's revenue growth depends entirely on the growth of its users.<b>The other side of this statement is that if paying users cannot continue to grow, Netflix's business model will face a crisis.</b></p><p>Netflix, a pioneer of streaming platforms and with the largest user base, may have hit its user ceiling sooner. Streaming platforms are essentially robbing pay-TV users. Taking the US pay TV market as an example, after reaching a peak of 101 million paid subscribers in 2011, it has been declining year by year. Netflix currently has approximately 67 million users in the United States, meaning that more than half of its potential users have already paid for Netflix. In the first quarter of 2021, Netflix added only 4 million new users, lower than the expected 6 million, and its stock price fell by 11%.</p><p>A poor quarterly performance isn't a serious problem for Netflix; what's truly damaging is that its market share may be being eroded by competitors.</p><p>In response to revenue pressure from slowing user growth, Netflix has raised membership fees five times. The most recent incident occurred in October 2020, when the basic plan remained unchanged at $8.99, while the standard and basic plans increased by $1 and $2 respectively to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for over a decade, HBO NOW ($14.99 ad-free) and HULU ($11.99 ad-free), but it is comparable to Disney.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared to these ambitious new generation entrants, they have little advantage. Disney+ costs just $7.99 a month, and Apple TV+ costs even less at just $4.99.</p><p>The past year has been almost a period of global streaming, with giants Disney, Apple, and Paramount entering the market one after another.</p><p>During the first quarter earnings call, when asked about his views on the current competition, Netflix founder Reed Hastings responded: \"Obviously, new competition is always there. But when we look at past data, the company has been growing because we are also very confident.\"</p><p>The confidence of the founders is one aspect, but the encroachment of Netflix by the giants is also real. In 2020, Netflix's market share of original programming fell from 56% at the beginning of the year to 50%.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global market share of original programs. Data Source Parrot Analytics. Image source:<a href=\"https://laohu8.com/S/NYT\">New York times</a></p><p>Behind this lies the loss of content from Netflix. Due to the launch of Disney+, Netflix removed a series of Disney IP content from its platforms. HBO also regained the copyrights to works such as \"Friends,\" \"The Big Bang Theory,\" and Studio Ghibli. Similarly, the veteran sitcom \"The Office\" has also been reclaimed by NBC.</p><p>Netflix original dramas account for only 30% of the total viewing time of subscribers, with the rest coming from external copyrights. According to data from CBN magazine, the top three longest-running Netflix shows in 2018 were \"The Office,\" \"Friends,\" and \"Grey's Anatomy.\" New content may be key to driving user growth, but existing viewers tend to choose works they are familiar with.</p><p>Netflix, which has been focusing on original content, has withdrawn most of its production plans due to the pandemic. Currently, Netflix does not have any major return series.</p><p>Netflix's model is somewhat like a one-off deal. After watching a series, users no longer have contact with it. Netflix's Stranger Things and House of Cards have a large number of die-hard fans, but a single subscription payment model cannot fully tap into the value of these IPs. This creates a strange phenomenon: on one side are fans holding banknotes and shouting \"Shut up and take my money,\" while on the other side are official fans who remain \"indifferent.\"</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Image source: memegenetator</p><p>Last year, Netflix's original documentary \"Tiger King\" was watched by 34.3 million people within 10 days of its release, making it Netflix's most successful series. A large number of Tiger King merchandise immediately appeared on the e-commerce brand Esty. But without exception, they were all counterfeits.</p><p>A search for \"Tiger King\" on Esty still yields 8195 results. Image source: Esty</p><p>This makes it easy to understand why Netflix launched an online store. On Netflix's official blog, Josh Simon, head of the Netflix Shop and vice president of consumer products, wrote:<b>We like to see good stories go beyond the screen and become a part of people's lives.</b>」「<b>We've been thinking about how to expand our story world for our fans, from costumes and toys to immersive events and games.</b>That's why today we're launching Netflix.shop, an exciting new destination that combines curated products and rich stories into a unique Netflix shopping experience.</p><p>These words are all about one thing:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man went to a hotel and approached Walter Disney, offering $300 to have Mickey Mouse's image printed on his desk. This $300 became Disney's first \"franchise\" revenue. Nearly a century later, that $300 became a $54.7 billion business.</p><p>Flipping through Disney's list of IPs, you'll find it's an almost endless list. In addition to its own original IPs, such as Mickey Mouse, Winnie the Pooh, Disney princesses, and The Lion King, Disney also aggressively acquired Pixar, Marvel, Lucasfilm, and 20th Century Fox in the first 20 years of the 21st century. In other words, apart from Mickey Mouse, all the IPs you are familiar with, such as the Avengers, Star Wars, Avatar, and Toy Story, belong to Disney.</p><p>Family portraits of Disney IP characters. Image source: psu.edu</p><p>According to TitleMax's 2019 data, eight of the world's 20 most profitable IPs originated from Disney, with a cumulative economic value of $355.182 billion. Winnie the Pooh, Mickey Mouse, and Star Wars ranked 3rd, 4th, and 5th respectively. These old IPs, which are over 40 years old or even nearly a century old, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The remaining Disney IPs in the TOP 20 are Disney Princesses at number 7, the Marvel Cinematic Universe at number 11, Spider-Man at number 12, Car Story at number 18, and Toy Story at number 19. Image source: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>Films themselves may not make money, but they must drive the development of related products.</b>。 Walt Disney clearly understood this well. As early as 1957, he drew a sketch that clearly described Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model drawn by Walt Disney. Image source: kottke.org</p><p>In this sketch, film studios are clearly central, with music, television, licensed merchandise, theme parks, and publications all surrounding them. Take magazines, for example. Movies provide articles for magazines, and magazines can promote movies and Disneyland. Each part is closely linked, cooperates with each other, and complements each other.</p><p>To this day, Disney has not deviated from the underlying logic of this model. Disney never views its animated characters as disposable consumer goods, but rather as a gold mine for long-term consumption. When Disney makes a movie, the company doesn't just consider the movie itself, but how to translate the story into goods, services, experiences, and other derivative products. As former Disney CFO Jay Rasulo said, \"Every aspect of the company is brand- and franchise-oriented.\"</p><p>Today, Disney's model is called<b>Round revenue</b>。</p><p>First, Disney will release movies centered on IP stories at high costs to earn its first round of revenue through box office revenue.</p><p>Disney will then sell the film rights to streaming platforms to earn a second round of revenue.</p><p>Meanwhile, with each new movie released, Disney adds corresponding new characters to the theme park, generating a third round of revenue through Disneyland.</p><p>Finally, earn the fourth round of income through franchising, publishing, retail, etc.</p><p>Through these four rounds of revenue generation, Disney has clearly \"squeezed out\" the profits from every IP. These diverse revenue streams give Disney a key advantage over Netflix, further extending the vitality of its IPs.</p><p><b>Build love for stories and turn love into money</b></p><p>Unlike Disney, Netflix has no plans to establish offline stores. Currently, Netflix has partnered with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Retailers such as H&M and Sephora have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online store system with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times, and Kim Kardashian's brand Skims.</p><p>Simon, the project leader at Netflix Shop, spent six years at Disney Studios as the production and development director.</p><p>This information seems to demonstrate Netflix's determination: \"Hey! We're not just playing around, we're serious!\"</p><p>For years, Netflix has avoided whether it is an entertainment or technology company. Just recently, Netflix founder Hastings declared, \"We really are an entertainment company.\"</p><p>According to Matthew Ball, a former Amazon Studio executive,<b>Essentially, an entertainment company does only three things:</b></p><p><ol><li><b>Creating/Telling Stories</b></p><p></li><li><b>Build love for these stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By this standard, Disney is undoubtedly the best company on the planet. Think about it, how many little girls want to wear Elsa's blue dress while visiting Disneyland? How many parents would pay for this?</p><p>Netflix has done a good enough job of storytelling and building love, but can it turn love into money?</p><p>Mark A. Cohen, director of retail research at Columbia Business School, expressed skepticism: \"Most of them (Netflix's hit shows) have a short shelf life, unlike Disney's IP, which is a long journey of a generation.\"</p><p>Despite a great deal of uncertainty, this is undoubtedly Netflix's best financial year yet. The company has borrowed a total of $16 billion over the past 10 years. At the end of last year, Netflix stated in its fourth-quarter earnings report that it no longer needed to seek borrowing to finance the company. In other words, Netflix has become a truly profitable company.</p><p>Meanwhile, its other streaming competitors are still losing money, including Disney.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw\">极客公园</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e2224e6b43e75f835dbd8bb6d8c4972c","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","NFLX":"奈飞","DIS":"迪士尼"},"source_url":"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138372330","content_text":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix Shop，首次进入了电商领域。\nNetflix Shop 目前在售的商品数量还很有限，不过 18 种。其中有高达 135 美元的机器人闹钟，也有 30 美元的 T 恤，但主要还是价位在 30 至 80 美元的服饰。未来，Netflix 还会推出《怪奇物语》《猎魔人》等系列商品。\n这些商品的共同点在于——它们都是 Netflix 旗下 IP 的周边产品。\n这很难让人不联想到 IP 授权市场里的那个顶级玩家——迪士尼。根据国际授权业协会（LIMA）数据显示，2019 年全球授权商品的销售额为了 2928 亿美元。第一名迪士尼就占了 547 亿美元，这个数字，是 Netflix 2020 全年收入的两倍。\n显然，Netflix 瞄准了 IP 授权的蛋糕。这背后，是 Netflix 的隐忧，和野心。\nNetflix 的隐忧\n2020 年几乎是 Netflix 诞生以来最好的一年。因为疫情宅家的原因，许多人的娱乐活动都转向了线上。Netflix 也因此增长了 3700 万付费用户，打破了该公司的增长纪录，总付费用户数也历史性地突破 2 亿。相应的，全年利润增长了 76%。\n这家创立时做 DVD 租赁生意的公司，在电视黄金时代的末尾，及时转向了流媒体业务。此后年年实现了付费用户两位数以上的增长。\n作为一家市值 2300 亿美元的公司，Netflix 的商业模式却极其简单——生产优质内容，吸引消费者付费订阅。2019 年，Netflix 98.52% 的收入都来自会员费。类比国内的长视频平台爱奇艺，会员费仅占其总营收的约 50%，其它的收入主要来自在线广告和内容分发。可以说，Netflix 营收的增长完全取决于用户的增长。这句话的另一面是，一旦付费用户无法持续增长，Netflix 的商业模式就会迎来危机。\n作为流媒体平台的先驱和用户数量最庞大的 Netflix，可能更早撞上用户天花板。流媒体平台本质上是抢夺了付费电视的用户。以美国付费电视市场为例，在 2011 年付费用户达到 1.01 亿的顶峰后就逐年下滑。目前 Netflix 的美国用户约为 6700 万，也就是说，超过半数的潜在用户已经为 Netflix 买了单。就在 2021 年第一季度，Netflix 新增用户仅为 400 万，低于预期的 600 万，Netflix 的股价应声下跌了 11%。\n一个季度的糟糕表现对 Netflix 来说并不是什么严重的问题，真正伤筋动骨的是——Netflix 的市场份额可能正在被竞争对手蚕食。\n为了应对用户增长放缓带来的营收压力，Netflix 的会员费先后上涨过 5 次。最近的一次发生在 2020 年 10 月份, 基础套餐维持在 8.99 美元不变，标准和基础套餐别上涨了 1 美元和 2 美元，至 13.99 美元和 17.99 美元。\n这个价格与 Netflix 过于十几年来的主要竞争对手 HBO NOW（无广告版 14.99 美元）、HULU（无广告版 11.99 美元）差别不大，但是和迪士尼、苹果这些野心勃勃的新一代入场者相比，就没有什么优势了。迪士尼+的月费仅为 7.99 美元，苹果 TV+的费用甚至更低，仅为 4.99 美元。\n过去一年几乎是全球流媒体的战国时代，巨头迪士尼、苹果、派拉蒙相继入场。\n在今年一季度的财报分析会议上，当被问及如何看待当下的竞争时，Netflix 的创始人里德·黑斯廷斯（Reed Hastings）是这么回应的：「很明显，新的竞争一直存在。但是当我们翻看过往的数据，公司一直在保持增长，因为我们也很有信心。」\n创始人的信心是一方面，但巨头们对 Netflix 的蚕食也是实实在在。2020 年，Netflix 原创节目的市场份额从年初的 56% 跌至了 50%。\n全球原创节目市场份额。数据来源：Parrot Analytics。图片来源：纽约时报\n这背后，是 Netflix 的内容流失。因为迪士尼+的上线，Netflix 下架了一系列迪士尼 IP 内容。而 HBO，也拿回了《老友记》《生活大爆炸》、吉卜力工作室等作品的版权。同样的，老牌情景喜剧《办公室》也被 NBC 收回旗下。\n在订阅用户的观看时长中，Netflix 自制剧仅占总数的 30%，其它都来自外部版权。根据《第一财经》杂志的数据，2018 年 Netflix 播放时长前三的作品正是《办公室》《老友记》和《实习医生格蕾》。新内容可能是拉动用户增长的关键，但是对于老观众来说，他们更倾向于选择自己熟悉的作品。\n一直在原创内容发力的 Netflix，因为疫情的缘故，撤回了大部分制作计划。目前，Netflix 还没有任何大型的回归系列。\nNetflix 的模式多少像是一锤子买卖。用户观看完剧集后，就和这部剧不再发生联系。Netflix 旗下的《怪奇物语》《纸牌屋》有大批的死忠粉丝，但单一的订阅付费模式并不能完全挖掘这些 IP 的价值。这就出现了一种奇怪的现象：一边是手握钞票嗷嗷叫着「Shut up and take my money」的粉丝，一边是「无动于衷」的官方。\n图片来源：memegenetator\n去年 Netflix 自制纪录片《虎王》上线 10 天就有 3430 万人观看，是 Netflix 最成功的剧集。在电商品牌 Esty 上立刻出现了大量《虎王》周边。但无一列外，它们都是山寨的。\n在 Esty 上搜索「虎王」，仍有 8195 条结果。图片来源：Esty\n这就不难理解为什么 Netflix 要推出线上商城。在 Netflix 官方博客中，Netflix Shop 的负责人、消费品部门副总裁约什·西蒙（Josh Simon）如此写道：「我们喜欢看到好故事超越屏幕，成为人们生活的一部分。」「我们一直在考虑如何为粉丝们拓展我们的故事世界，从服装和玩具到身临其境的事件和游戏。这也是为什么今天我们推出 Netflix.shop，将其作为一个令人兴奋的新目的地，将精心策划的产品和丰富的故事结合在一个独特的 Netflix 购物体验中。」\n这字里行间都在说一件事：我们想要成为迪士尼！\n迪士尼魔法\n1929 年，有一个人到旅馆找到沃尔特·迪士尼（Walter Disney），拿出 300 美元，要求把米老鼠的形象印在写字桌上。这 300 美元成了迪士尼的第一笔「特许经营」收入。近百年后，这 300 美元成了 547 亿美元的大生意。\n翻开迪士尼的 IP 清单，你会发现这几乎是一本长不见底的名录。除了自有的原创 IP，如米老鼠、小熊维尼、迪士尼公主、狮子王等，迪士尼在 21 世纪的头 20 年还疯狂收购了皮克斯、漫威、卢卡斯影业、二十世纪福克斯。也就是说，除了米老鼠，你所熟悉的复仇者联盟、星球大战、阿凡达、玩具总动员这些 IP 全部都属于迪士尼。\n迪士尼旗下 IP 人物全家福。图片来源：psu.edu\n根据 TitleMax 2019 年的数据，全球最赚钱的 20 个 IP 中有 8 个来自迪士尼，累计经济价值达 3551.82 亿美元。其中小熊维尼、米老鼠、星球大战分别位列第 3、4、5 位。这些超过了 40 年甚至近百年的老 IP，依旧爆发出了惊人的生命力。\n其余 TOP 20 的迪士尼 IP 分别是第 7 位的迪士尼公主、11 位的漫威宇宙、12 位的蜘蛛侠、18 位的赛车总动员和 19 位的玩具总动员。图片来源：TITLEMAX\n在好莱坞，有一个著名的火车头理论：电影本身可以不赚钱，但它必须带动相关产品的发展。沃尔特·迪士尼显然深谙此道。早在 1957 年，他就画下了一张草图，清晰描述了迪士尼的商业模式。\n沃尔特·迪士尼画下的迪士尼商业模式。图片来源：kottke.org\n在这张草图中，电影制片厂处在了明确的中心位置，音乐、电视、授权商品、主题乐园和出版物都环绕在四周。拿杂志来说，电影为杂志提供了文章内容，杂志则可以宣传电影和迪士尼乐园。每一部分都紧密联系在一起，相互配合，相互补充。\n时至今日，迪士尼公司依旧没有脱离这套模式的底层逻辑。迪士尼从不把创作出的动画形象看成一次性消费品，而是作为一个可长久消费的金矿去深度挖掘。当迪士尼制作一部电影时，公司不仅仅是考虑电影本身，而如何将故事转化为商品、服务、体验和其它衍生产品。正如迪士尼前首席财务官杰·拉苏洛（Jay Rasulo）所说：「公司的每个方面都是面向品牌和特许经营的。」\n在今天，迪士尼的这种模式被叫做轮次收入。\n首先，迪士尼会以高成本推出以 IP 故事为核心的电影，通过票房赚取第一轮收入。\n然后，迪士尼会把影片版权卖给流媒体平台，赚取第二轮收入\n同时，迪士尼每推出一部新电影就会在主题乐园中增加相应的新人物，通过迪士尼乐园赚取第三轮收入。\n最后，通过特许经营、出版、零售等方式赚取第四轮收入。\n通过这四轮收入，迪士尼明明白白地「榨干」了每一个 IP 的利润。这些多种多样的盈利渠道使迪士尼比 Netflix 拥有了关键的优势，更加延续了旗下 IP 的生命力。\n为故事建立爱，把爱变成钱\n与迪士尼不同，Netflix 并没有建立线下门店的计划。目前，Netflix 已经和 Target、沃尔玛、亚马逊、H&M、丝芙兰等零售商签订了数百种周边产品的许可协议。\nNetflix 还和电商平台 Shopify 一起开发了线上商城系统。此前，Shopify 已经为 Allbirds、Kith、《纽约时报》和金·卡戴珊（Kim Kardashian）的品牌 Skims 提供过技术支持。\n而 Netflix Shop 的项目负责人西蒙，就曾经在迪士尼工作室呆过六年，担任制作和开发总监。\n这些信息似乎都在表明 Netflix 的决心：「嘿！我们可不是在玩票，我们是认真的！」\n多年来，Netflix 一直回避自己是一家娱乐公司还是科技公司。就在最近，Netflix 创始人黑斯廷斯宣称：「我们真的是一家娱乐公司。」\n按照亚马逊工作室（Amazon Studio）前高管马修·鲍尔（Matthew Ball）的说法，从本质上讲，一家娱乐公司只做三件事：\n\n创造/讲述故事\n为这些故事建立爱\n把爱变成钱\n\n按照这个标准来说，迪士尼无疑是这个星球上做得最好的公司。想想看，有多少小女孩想在逛迪士尼乐园的时候穿上爱莎的蓝色长裙？又有多少家长会为此买单？\n在讲故事和建立爱上，Netflix 已经做得足够好了，但它能把爱变成钱吗？\n哥伦比亚商学院的零售研究主任马克·A·科恩（Mark A Cohen）就表示了怀疑：「它们（Netflix 的热播剧）大多数的保质期都很短，不像迪士尼的 IP，那是一代人的漫长旅程。」\n尽管有非常多的不确定性，但当下无疑是 Netflix 财务状况最好的一年。这家公司在过去 10 年总共借款达 160 亿美元。去年年底，Netflix 在第四季度财报上表示，它不再需要寻求借款来为公司提供资金。换句话说，Netflix 成为了一家真正盈利的公司。\n而它的其它流媒体竞争对手，都还在亏着钱，包括迪士尼。","news_type":1,"symbols_score_info":{"NFLX":0.9,"QNETCN":0.9,"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":4205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}