雨后就是彩虹 personal page - To The Moon

雨后就是彩虹

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雨后就是彩虹

2024-01-30

$莎姆达拉(S56.SI)$

雨后就是彩虹

2021-08-30

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China's new car-making forces fell intraday, with Li Auto falling nearly 5%

雨后就是彩虹

2021-09-18

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The market value of "Jiangmao" Haitian Flavor Industry has nearly halved this year, a trap or an opportunity?

雨后就是彩虹

2021-08-18

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The financial report was recognized, and Tencent's ADR rose rapidly by nearly 5%

雨后就是彩虹

2021-08-11

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Great Ebb Tide: Can plummeting shells still go ashore?

雨后就是彩虹

2021-09-13

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Preview: Apple's new product launch conference is coming! The XPeng P5 goes on sale on Wednesday

雨后就是彩虹

2021-09-01

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Sorry, the original content has been removed

雨后就是彩虹

2022-04-21

ok$新翔集团有限公司(S58.SI)$

雨后就是彩虹

2021-09-20

666

Call an emergency meeting! Britain's "gas shortage" is not easy

雨后就是彩虹

2021-09-16

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What are the certainty opportunities in the next 5 to 10 years? Wu Xiaobo Qin Shuo said this

雨后就是彩虹

2021-09-04

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Didi Chuxing: Foreign media reported rumors about corporate shareholding as false news

雨后就是彩虹

2021-08-12

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There are not many tickets left, how does Baidu Apollo compete with the smart travel arena?

雨后就是彩虹

2021-08-07

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Berkshire's Q2 net profit was US $28.1 billion, a year-on-year increase of 7%

雨后就是彩虹

2021-09-15

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iPhone13 evolves normally, targeting the replacement needs of 1 billion people

雨后就是彩虹

2021-09-12

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Industrial Securities Strategy: Let a hundred flowers bloom and perform as scheduled, and the market accelerates

雨后就是彩虹

2021-09-10

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US Mobile Network Operators: It's Time to Shut Down 3G

雨后就是彩虹

2021-09-05

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Sorry, the original content has been removed

雨后就是彩虹

2021-09-02

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Great changes in the currency market: There are so many dollars that the market doesn't want them

雨后就是彩虹

2021-08-29

666

Natural gas has gone crazy, how is the mid-term report of A-share gas companies?

Go to Tiger App to see more news

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Not only can you explore our unique tech-driven features, but you also stand a chance to win incredible rewards. Here’s how you can maximize your winnings:🏆 Winning Guide 🏆Discover Exclusive Features:Click to explore the unique features you’re interested in.Watch the feature introduction videos and complete the corresponding tasksShow Your Love:Like your favorite featuresIf the features you like end up in the top three, you’ll share in extra grand prizes!Collect and Win:Complete special tasks to earn pieces.Collect all pieces to exchange for high-value rewards!💡 Pro Tips:Complete highlighted tasks to earn extra rewards and a big bonus!Ready to dive","listText":"🎉 Unlock Your Path to $1,010 voucher with Our Winning Guide! 🎉Our exclusive anniversary event is now LIVE, and we want YOU to join in the fun! Not only can you explore our unique tech-driven features, but you also stand a chance to win incredible rewards. Here’s how you can maximize your winnings:🏆 Winning Guide 🏆Discover Exclusive Features:Click to explore the unique features you’re interested in.Watch the feature introduction videos and complete the corresponding tasksShow Your Love:Like your favorite featuresIf the features you like end up in the top three, you’ll share in extra grand prizes!Collect and Win:Complete special tasks to earn pieces.Collect all pieces to exchange for high-value rewards!💡 Pro Tips:Complete highlighted tasks to earn extra rewards and a big bonus!Ready to dive","text":"🎉 Unlock Your Path to $1,010 voucher with Our Winning Guide! 🎉Our exclusive anniversary event is now LIVE, and we want YOU to join in the fun! Not only can you explore our unique tech-driven features, but you also stand a chance to win incredible rewards. Here’s how you can maximize your winnings:🏆 Winning Guide 🏆Discover Exclusive Features:Click to explore the unique features you’re interested in.Watch the feature introduction videos and complete the corresponding tasksShow Your Love:Like your favorite featuresIf the features you like end up in the top three, you’ll share in extra grand prizes!Collect and Win:Complete special tasks to earn pieces.Collect all pieces to exchange for high-value rewards!💡 Pro Tips:Complete highlighted tasks to earn extra rewards and a big bonus!Ready to 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22:30","market":"us","language":"zh","title":"China's new car-making forces fell intraday, with Li Auto falling nearly 5%","url":"https://stock-news.laohu8.com/highlight/detail?id=1187906756","media":"老虎资讯综合","summary":"周一，中概新能源车概念股盘中走低，截至发稿，理想汽车跌近5%，蔚来超跌3%，小鹏汽车跌2.61%，小牛电动跌2.04%。\n\n今日理想汽车发布财报，2021年第二季度营收50.4亿元，同比增长158.8","content":"<p>On Monday, Zhonggai new energy vehicle concept stocks fell intraday. As of press time,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Fell nearly 5%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Oversold by 3%,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Down 2.61%,<a href=\"https://laohu8.com/S/NIU\">Mavericks Electric</a>Fell 2.04%.</p><p><img src=\"https://static.tigerbbs.com/be6b097daa07cdc62fa3c46a69ae8239\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Li Auto released its financial report today, with revenue in the second quarter of 2021 of 5.04 billion yuan, a year-on-year increase of 158.8%; The net loss in the second quarter was 235.5 million yuan, an increase year-on-year.</p><p><img src=\"https://static.tigerbbs.com/7e875fb3de68b1e08ae8df67abb0cfc2\" tg-width=\"835\" tg-height=\"457\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's new car-making forces fell intraday, with Li Auto falling nearly 5%</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\">\nChina's new car-making forces fell intraday, with Li Auto falling nearly 5%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-30 22:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Monday, Zhonggai new energy vehicle concept stocks fell intraday. As of press time,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Fell nearly 5%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Oversold by 3%,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Down 2.61%,<a href=\"https://laohu8.com/S/NIU\">Mavericks Electric</a>Fell 2.04%.</p><p><img src=\"https://static.tigerbbs.com/be6b097daa07cdc62fa3c46a69ae8239\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Li Auto released its financial report today, with revenue in the second quarter of 2021 of 5.04 billion yuan, a year-on-year increase of 158.8%; The net loss in the second quarter was 235.5 million yuan, an increase year-on-year.</p><p><img src=\"https://static.tigerbbs.com/7e875fb3de68b1e08ae8df67abb0cfc2\" tg-width=\"835\" tg-height=\"457\" width=\"100%\" height=\"auto\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c3461c9400040bdfdce3ecdd4882fbed","relate_stocks":{"LI":"理想汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187906756","content_text":"周一，中概新能源车概念股盘中走低，截至发稿，理想汽车跌近5%，蔚来超跌3%，小鹏汽车跌2.61%，小牛电动跌2.04%。\n\n今日理想汽车发布财报，2021年第二季度营收50.4亿元，同比增长158.8%；二季度净亏损2.355亿元，同比有所扩大。","news_type":1,"symbols_score_info":{"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":667,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884222564,"gmtCreate":1631895998858,"gmtModify":1676530665650,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/884222564","repostId":"1121845156","repostType":4,"repost":{"id":"1121845156","kind":"news","pubTimestamp":1631892220,"share":"https://ttm.financial/m/news/1121845156?lang=en_US&edition=fundamental","pubTime":"2021-09-17 23:23","market":"sh","language":"zh","title":"The market value of \"Jiangmao\" Haitian Flavor Industry has nearly halved this year, a trap or an opportunity?","url":"https://stock-news.laohu8.com/highlight/detail?id=1121845156","media":"闺蜜财经","summary":"今年的股市，说是价值投资者的“噩梦”也不为过。不知蜜友们感觉如何，蜜姐身边很多人，现在已经开始躺平了。\n尤其是年初拿了很多价值股的人，中国平安、万科、伊利、海天味业……惨得一塌糊涂。\n昨天，蜜妹关注到","content":"<p>This year's stock market is not an exaggeration to say that it is a \"nightmare\" for value investors. I don't know how my friends feel. Many people around Sister Mi have begun to lie flat now.</p><p>Especially those who took a lot of value stocks at the beginning of the year,<a href=\"https://laohu8.com/S/601318\">China Ping An</a>, Vanke, Yili,<a href=\"https://laohu8.com/S/603288\">Haitian Flavor Industry</a>... It's a mess.</p><p>Yesterday, Mimei noticed that there were 6 large transactions in Haitian Flavor Industry, with a total turnover of 812,700 shares and a turnover of 64.4995 million yuan.</p><p>Further statistics show that in the past three months, there have been a total of 129 block transactions in the stock, with a total turnover of 2.392 billion yuan.</p><p>What is the situation? Is it time to buy the bottom?</p><p><img src=\"https://static.tigerbbs.com/e8cc8871fff56784f5654ddd5b3eacb0\" tg-width=\"964\" tg-height=\"783\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p>Haitian Flavor Industry, many honey friends may not know this name. Its history begins in 1955, when 25 ancient sauce gardens in Foshan were strategically merged and reorganized, and the newly established factory was named \"Haitian Soy Sauce Factory\".</p><p>In 1994, Haitian transformed from a state-owned enterprise to a municipal enterprise<a href=\"https://laohu8.com/S/QC7.SI\">the whole people</a>Ownership enterprise, in 1995, it became a state-owned limited liability company-Foshan Haitian Seasoning Food Co., Ltd.</p><p>In November 2010, Haitian Seasoning Co., Ltd. was changed into a joint stock limited company as a whole.</p><p>On February 11, 2014, Haitian was successfully listed on the main board of Shanghai Stock Exchange with the stock name Haitian Flavor Industry.</p><p><b>In the past few years, Haitian Flavor Industry's title of \"Jiangmao\" has been well-deserved.</b>According to public reports, based on the stock price of reinstatement in the future, the stock price of Haitian Flavor Industry has increased by as much as 13 times in the past seven years, with a market value of about 708.2 billion.</p><p>However, this year, this white horse seems to be \"dying down\".</p><p><img src=\"https://static.tigerbbs.com/2faa47619cb9324c533fc81d98383050\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p>Let's first take a look at the stock price trend of Haitian Flavor Industry in the past year. As shown in the figure below, the highest point was in January this year. At that time, the stock price of Haitian Flavor Industry reached more than 160 yuan per share, and then went down amid shocks. Until the end of August, it remained at a price of more than 100 yuan.</p><p>On August 31, the situation seemed to be not good. On that day, Haitian Flavor Industry directly fell to the limit, and continued to maintain a downward trend for several trading days, falling to more than 80 yuan today.</p><p>Today (September 16), the stock price of Haitian Flavor Industry is in the opposite trend of the broader market, showing a sharp rise. Is this bottom out?</p><p><b>02</b></p><p>If the decline in the first half of the year is related to the general sluggish state of value stocks and the return of market value, then the sharp drop at the end of August is mainly due to Haitian Flavor Industry itself.</p><p><b>The situation starts with the semi-annual report released by Haitian Flavor Industry on August 30th. Simply put, this is a \"report card\" that falls short of expectations.</b></p><p><img src=\"https://static.tigerbbs.com/84899a2aa3d36490eb84542211744637\" tg-width=\"554\" tg-height=\"266\" referrerpolicy=\"no-referrer\"></p><p>The semi-annual report disclosed that in the first half of 2021, Haitian Flavor Industry's revenue was 12.332 billion yuan, a year-on-year increase of 6.36%; The net profit attributable to the parent was 3.353 billion yuan, a year-on-year increase of 3.07%, and the net cash flow from operating activities dropped by 83.85%, from 1.570 billion yuan in the first half of 2020 to 254 million yuan in the first half of this year.</p><p>Of particular note is the second quarter.</p><p>From the perspective of categories, the revenue of soy sauce, sauce, and oyster sauce of Haitian Flavor Industry in the first half of the year still increased year-on-year, but the year-on-year growth rates of these three categories all declined in the second quarter.</p><p>The year-on-year growth rates of the above three major products fell by 7.2%, 8.66%, and 7.06% respectively.</p><p><img src=\"https://static.tigerbbs.com/0548466483704418615f3c035980a40e\" tg-width=\"554\" tg-height=\"468\" referrerpolicy=\"no-referrer\"></p><p>From a regional perspective, Haitian Flavor Industry is also going downhill in the second quarter. The revenue of the eastern, southern, central, northern, and western regions decreased by 7.10%, 9.47%, 8.10%, 14.15%, and 4.82% respectively year-on-year.</p><p>In addition, due to the rise in the prices of raw materials such as soybeans in the first half of the year, the production cost became higher, which compressed the profit margin. In the first half of 2021, the gross profit margin and net profit margin of Haitian Flavor Industry were 39.31% and 27.21% respectively, a year-on-year decrease of 3.63 and 0.87 percentage points.</p><p><b>Based on this,<a href=\"https://laohu8.com/S/002926\">West China Securities</a>The institute downgraded Haitian Flavor Industry from Buy to Overweight.</b></p><p><img src=\"https://static.tigerbbs.com/7d4df3fc6eaabe7539ae1d146df806c8\" tg-width=\"700\" tg-height=\"343\" referrerpolicy=\"no-referrer\"></p><p><b>03</b></p><p><b>In addition to cost growth that reduces profit margins, another \"competitor\" of Haitian Flavor Industry is community group buying.</b></p><p>As a big player in offline channels, Haitian Flavor Industry's supermarkets and other shelves are in a good position and have obvious advantages.</p><p>However, with the rise of community group buying, the sales impact of offline channels is also obvious. Public data shows that in the second quarter, Haitian Flavor Industry's offline channel revenue was 4.74 billion yuan, a year-on-year decrease of 10%.</p><p>On the other hand, because community group buying does not need to pay large barcode fees, which is equivalent to all brands being at the same starting line, the traditional \"moat\" advantage of Haitian Flavor Industry is gone, which is actually detrimental to its sales growth.</p><p><b>How much room does Haitian Flavor Industry have for growth in the future? In terms of channels, it mainly looks at the impact of community group buying on it, as well as the company's own</b>Coping strategies.</p><p>At present, Haitian Flavor Industry is promoting marketing transformation. On the one hand, it continues to strengthen its offline network. In the first half of the year, it added 356 new distributors. At the same time, it accelerated the development of online business. In the second quarter, the online revenue was 250 million, a year-on-year increase of 14.4%. This speed is not bad.</p><p><img src=\"https://static.tigerbbs.com/6dab3f7a8d9c0b815adbd6ea2e2a5b4c\" tg-width=\"1080\" tg-height=\"540\" referrerpolicy=\"no-referrer\"></p><p><b>In terms of products, it is whether we can further look for new performance growth points on the basis of stabilizing the basic market of soy sauce.</b></p><p>In the past two years, Haitian Flavor Industry has made a lot of moves. In addition to several main products, it has successively deployed vinegar, chicken essence, monosodium glutamate, cooking wine and other subdivisions. Later, it has successively launched hot pot base ingredients, edible oil, rice, etc. products. The current product line is also very extensive.</p><p>But as far as Mimei is concerned, consumers are more willing to pay for his main product line, and the presence of sub-line products is not high. This can also be seen from the data. The 2021 semi-annual report shows that excluding soy sauce, oyster sauce, and sauce, Haitian Flavor Industry's \"other\" products have a revenue of 1.125 billion, accounting for 9.13% of the revenue, and the revenue ratio is the lowest among all items.</p><p>Therefore, it is still unclear whether there will be a big breakthrough in the new growth point.</p><p><b>Finally, to buy a stock, in addition to the basic market and trend, the more important thing is the price.</b></p><p>After 2020, the P/E of Haitian Flavor Industry will exceed 100 times at its peak. Although it has dropped to about 56 times at present, it is still higher than the average value of the food and beverage industry. The price-to-sales ratio is currently more than 16 times, which is also higher than the industry average of less than 15 times.</p><p><img src=\"https://static.tigerbbs.com/0b1569d930e5cd2ffebc105b33cab17a\" tg-width=\"1080\" tg-height=\"746\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>It is also worth noting that in the past year, the number of shareholders of Haitian Flavor Industry has increased from more than 40,000 to more than 160,000 by the end of the first half of 2021, an increase of three times. What is this concept?</p><p>In the six years from its listing in 2014 to 2020, the number of shareholders of Haitian Flavor Industry has only increased from about 24,000 to about 48,000. In other words, in the past year, the number of shareholders increased by Haitian Flavor Industry far exceeded the total increase in the past six years.</p><p>This means the entry of a large number of retail investors and the reduction of institutional shareholdings. What kind of signal is this?</p>","source":"lsy1600999424646","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 market value of \"Jiangmao\" Haitian Flavor Industry has nearly halved this year, a trap or an opportunity?</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 market value of \"Jiangmao\" Haitian Flavor Industry has nearly halved this year, a trap or an opportunity?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">闺蜜财经</strong><span class=\"h-time small\">2021-09-17 23:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>This year's stock market is not an exaggeration to say that it is a \"nightmare\" for value investors. I don't know how my friends feel. Many people around Sister Mi have begun to lie flat now.</p><p>Especially those who took a lot of value stocks at the beginning of the year,<a href=\"https://laohu8.com/S/601318\">China Ping An</a>, Vanke, Yili,<a href=\"https://laohu8.com/S/603288\">Haitian Flavor Industry</a>... It's a mess.</p><p>Yesterday, Mimei noticed that there were 6 large transactions in Haitian Flavor Industry, with a total turnover of 812,700 shares and a turnover of 64.4995 million yuan.</p><p>Further statistics show that in the past three months, there have been a total of 129 block transactions in the stock, with a total turnover of 2.392 billion yuan.</p><p>What is the situation? Is it time to buy the bottom?</p><p><img src=\"https://static.tigerbbs.com/e8cc8871fff56784f5654ddd5b3eacb0\" tg-width=\"964\" tg-height=\"783\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p>Haitian Flavor Industry, many honey friends may not know this name. Its history begins in 1955, when 25 ancient sauce gardens in Foshan were strategically merged and reorganized, and the newly established factory was named \"Haitian Soy Sauce Factory\".</p><p>In 1994, Haitian transformed from a state-owned enterprise to a municipal enterprise<a href=\"https://laohu8.com/S/QC7.SI\">the whole people</a>Ownership enterprise, in 1995, it became a state-owned limited liability company-Foshan Haitian Seasoning Food Co., Ltd.</p><p>In November 2010, Haitian Seasoning Co., Ltd. was changed into a joint stock limited company as a whole.</p><p>On February 11, 2014, Haitian was successfully listed on the main board of Shanghai Stock Exchange with the stock name Haitian Flavor Industry.</p><p><b>In the past few years, Haitian Flavor Industry's title of \"Jiangmao\" has been well-deserved.</b>According to public reports, based on the stock price of reinstatement in the future, the stock price of Haitian Flavor Industry has increased by as much as 13 times in the past seven years, with a market value of about 708.2 billion.</p><p>However, this year, this white horse seems to be \"dying down\".</p><p><img src=\"https://static.tigerbbs.com/2faa47619cb9324c533fc81d98383050\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p>Let's first take a look at the stock price trend of Haitian Flavor Industry in the past year. As shown in the figure below, the highest point was in January this year. At that time, the stock price of Haitian Flavor Industry reached more than 160 yuan per share, and then went down amid shocks. Until the end of August, it remained at a price of more than 100 yuan.</p><p>On August 31, the situation seemed to be not good. On that day, Haitian Flavor Industry directly fell to the limit, and continued to maintain a downward trend for several trading days, falling to more than 80 yuan today.</p><p>Today (September 16), the stock price of Haitian Flavor Industry is in the opposite trend of the broader market, showing a sharp rise. Is this bottom out?</p><p><b>02</b></p><p>If the decline in the first half of the year is related to the general sluggish state of value stocks and the return of market value, then the sharp drop at the end of August is mainly due to Haitian Flavor Industry itself.</p><p><b>The situation starts with the semi-annual report released by Haitian Flavor Industry on August 30th. Simply put, this is a \"report card\" that falls short of expectations.</b></p><p><img src=\"https://static.tigerbbs.com/84899a2aa3d36490eb84542211744637\" tg-width=\"554\" tg-height=\"266\" referrerpolicy=\"no-referrer\"></p><p>The semi-annual report disclosed that in the first half of 2021, Haitian Flavor Industry's revenue was 12.332 billion yuan, a year-on-year increase of 6.36%; The net profit attributable to the parent was 3.353 billion yuan, a year-on-year increase of 3.07%, and the net cash flow from operating activities dropped by 83.85%, from 1.570 billion yuan in the first half of 2020 to 254 million yuan in the first half of this year.</p><p>Of particular note is the second quarter.</p><p>From the perspective of categories, the revenue of soy sauce, sauce, and oyster sauce of Haitian Flavor Industry in the first half of the year still increased year-on-year, but the year-on-year growth rates of these three categories all declined in the second quarter.</p><p>The year-on-year growth rates of the above three major products fell by 7.2%, 8.66%, and 7.06% respectively.</p><p><img src=\"https://static.tigerbbs.com/0548466483704418615f3c035980a40e\" tg-width=\"554\" tg-height=\"468\" referrerpolicy=\"no-referrer\"></p><p>From a regional perspective, Haitian Flavor Industry is also going downhill in the second quarter. The revenue of the eastern, southern, central, northern, and western regions decreased by 7.10%, 9.47%, 8.10%, 14.15%, and 4.82% respectively year-on-year.</p><p>In addition, due to the rise in the prices of raw materials such as soybeans in the first half of the year, the production cost became higher, which compressed the profit margin. In the first half of 2021, the gross profit margin and net profit margin of Haitian Flavor Industry were 39.31% and 27.21% respectively, a year-on-year decrease of 3.63 and 0.87 percentage points.</p><p><b>Based on this,<a href=\"https://laohu8.com/S/002926\">West China Securities</a>The institute downgraded Haitian Flavor Industry from Buy to Overweight.</b></p><p><img src=\"https://static.tigerbbs.com/7d4df3fc6eaabe7539ae1d146df806c8\" tg-width=\"700\" tg-height=\"343\" referrerpolicy=\"no-referrer\"></p><p><b>03</b></p><p><b>In addition to cost growth that reduces profit margins, another \"competitor\" of Haitian Flavor Industry is community group buying.</b></p><p>As a big player in offline channels, Haitian Flavor Industry's supermarkets and other shelves are in a good position and have obvious advantages.</p><p>However, with the rise of community group buying, the sales impact of offline channels is also obvious. Public data shows that in the second quarter, Haitian Flavor Industry's offline channel revenue was 4.74 billion yuan, a year-on-year decrease of 10%.</p><p>On the other hand, because community group buying does not need to pay large barcode fees, which is equivalent to all brands being at the same starting line, the traditional \"moat\" advantage of Haitian Flavor Industry is gone, which is actually detrimental to its sales growth.</p><p><b>How much room does Haitian Flavor Industry have for growth in the future? In terms of channels, it mainly looks at the impact of community group buying on it, as well as the company's own</b>Coping strategies.</p><p>At present, Haitian Flavor Industry is promoting marketing transformation. On the one hand, it continues to strengthen its offline network. In the first half of the year, it added 356 new distributors. At the same time, it accelerated the development of online business. In the second quarter, the online revenue was 250 million, a year-on-year increase of 14.4%. This speed is not bad.</p><p><img src=\"https://static.tigerbbs.com/6dab3f7a8d9c0b815adbd6ea2e2a5b4c\" tg-width=\"1080\" tg-height=\"540\" referrerpolicy=\"no-referrer\"></p><p><b>In terms of products, it is whether we can further look for new performance growth points on the basis of stabilizing the basic market of soy sauce.</b></p><p>In the past two years, Haitian Flavor Industry has made a lot of moves. In addition to several main products, it has successively deployed vinegar, chicken essence, monosodium glutamate, cooking wine and other subdivisions. Later, it has successively launched hot pot base ingredients, edible oil, rice, etc. products. The current product line is also very extensive.</p><p>But as far as Mimei is concerned, consumers are more willing to pay for his main product line, and the presence of sub-line products is not high. This can also be seen from the data. The 2021 semi-annual report shows that excluding soy sauce, oyster sauce, and sauce, Haitian Flavor Industry's \"other\" products have a revenue of 1.125 billion, accounting for 9.13% of the revenue, and the revenue ratio is the lowest among all items.</p><p>Therefore, it is still unclear whether there will be a big breakthrough in the new growth point.</p><p><b>Finally, to buy a stock, in addition to the basic market and trend, the more important thing is the price.</b></p><p>After 2020, the P/E of Haitian Flavor Industry will exceed 100 times at its peak. Although it has dropped to about 56 times at present, it is still higher than the average value of the food and beverage industry. The price-to-sales ratio is currently more than 16 times, which is also higher than the industry average of less than 15 times.</p><p><img src=\"https://static.tigerbbs.com/0b1569d930e5cd2ffebc105b33cab17a\" tg-width=\"1080\" tg-height=\"746\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>It is also worth noting that in the past year, the number of shareholders of Haitian Flavor Industry has increased from more than 40,000 to more than 160,000 by the end of the first half of 2021, an increase of three times. What is this concept?</p><p>In the six years from its listing in 2014 to 2020, the number of shareholders of Haitian Flavor Industry has only increased from about 24,000 to about 48,000. In other words, in the past year, the number of shareholders increased by Haitian Flavor Industry far exceeded the total increase in the past six years.</p><p>This means the entry of a large number of retail investors and the reduction of institutional shareholdings. What kind of signal is this?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/CjqhUqROX2CXwYImc04kdw\">闺蜜财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{"603288":"海天味业"},"source_url":"https://mp.weixin.qq.com/s/CjqhUqROX2CXwYImc04kdw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121845156","content_text":"今年的股市，说是价值投资者的“噩梦”也不为过。不知蜜友们感觉如何，蜜姐身边很多人，现在已经开始躺平了。\n尤其是年初拿了很多价值股的人，中国平安、万科、伊利、海天味业……惨得一塌糊涂。\n昨天，蜜妹关注到，海天味业发生6笔大宗交易，合计成交量81.27万股，成交金额6449.95万元。\n进一步统计，近3个月内该股累计发生129笔大宗交易，合计成交金额为23.92亿元。\n这是什么情况，抄底的时机到了吗？\n\n01\n海天味业，可能不少蜜友并不知道这个名字。其历史要从1955年说起，彼时佛山25家古酱园谋略合并重组，新组建的厂命名为“海天酱油厂”。\n1994年海天转制，从国有企业变身为市属全民所有制企业，1995年成为国有参股的有限责任公司——佛山市海天调味食品有限公司。\n2010年11月，海天调味有限整体变更为股份有限公司。\n2014年2月11日，海天在上交所主板成功挂牌上市，股票名称为海天味业。\n上市这几年里，海天味业“酱茅”的称号名不虚传。根据公开报道，以后复权的股价来计算，这7年海天味业的股价涨幅最高达13倍，市值最高大概7082亿。\n不过今年来看，这只白马似乎有“偃旗息鼓”的态势。\n\n先来看看海天味业最近一年的股价走势。如下图，最高点时是今年1月，彼时海天味业的股价到了每股160多块，随后在震荡中下行，直到8月底前，还维持在百元以上的价格。\n时间进入8月31日，情况似乎又不太妙，当天海天味业直接跌停，此后几个交易日继续维持下跌趋势，陆陆续续阴跌到如今的80多块。\n今天（9月16日），海天味业股价和大盘走势相反，呈大涨状态。这是触底反弹了吗？\n02\n如果说前半年的下跌和价值股普遍的萎靡状态、市值回归等有关，那么8月底的那场大跌，主要还是得从海天味业本身找原因。\n情况要从8月30日，海天味业发布的半年度报告说起。简单说，这是一份不及预期的“成绩单”。\n\n半年报披露，2021上半年，海天味业营收123.32亿元，同比增长6.36%；归母净利润33.53亿元，同比增长3.07%，经营活动产生的现金流量净额大跌83.85%，从2020上半年的15.70亿元，减少到今年上半年的2.54亿元。\n尤其值得注意的是二季度。\n从品类来看，上半年海天味业的酱油、调味酱、蚝油的营收同比还是增长的，但二季度这三大品类的同比增速都不约而同下降了。\n上述三大产品同比增速分别下降了7.2%、8.66%、7.06%。\n\n分区域来看，海天味业二季度也在走“下坡路”。东部、南部、中部、北部、西部营收同比分别下降了7.10%、9.47%、8.10%、14.15%、4.82%。\n此外，因为上半年大豆等原材料价格的上升，导致生产成本变高，压缩了利润空间。2021上半年，海天味业的毛利率和净利率分别为39.31%、27.21%，同比去年下降了3.63和0.87个百分点。\n基于此，华西证券研究所下调了海天味业的评级，从买入下调至增持。\n\n03\n除了成本增长压缩了利润空间，海天味业还有一个“竞争者”是社区团购。\n作为线下渠道的大佬，海天味业的商超等货架铺设位置很好，优势明显。\n但随着社区团购的兴起，线下渠道的销售影响亦明显。公开数据显示，二季度，海天味业的线下渠道收入47.4亿元，同比下降10%。\n另一方面，因为社区团购不需要支付大额的条码费，相当于所有品牌都在同一起跑线，海天味业传统的“护城河”优势没有了，这对其销售增长其实是不利的。\n未来海天味业的增长空间有多大？从渠道方面，主要看社区团购对其的冲击，以及公司自身对此的应对策略。\n目前，海天味业正在推进营销转型，一方面持续强化线下网络，上半年净新增经销商356家，同时加速开拓在线业务，二季度在线收入2.5亿，同比增14.4%，这个速度也还可以。\n\n产品方面，就是是否能在稳住酱油这个基本盘的基础上，再进一步寻找新的业绩增长点。\n这两年，海天味业的动作颇多，几大主营产品外，后面又陆续布局醋、鸡精、味精、料酒等细分领域，后面又陆续推出了火锅底料、食用油、大米等产品。现在的产品系也很广泛。\n但就蜜妹来看，消费者更愿意买单的还是他的主营产品线，副线产品的存在感并不高。这从数据中也可以看到。2021半年报显示，除去酱油、蚝油、酱类，海天味业的“其他”产品营收11.25亿，占收入的比例为9.13%，营收占比是各项中的最低。\n所以，新的增长点是否会有大的突破，目前还不明朗。\n最后，买入一只股票，除了基本盘和趋势，更重要的是价格。\n2020年以后，海天味业的市盈率最高时超过100倍。尽管目前跌到了56倍左右，但仍然高于食品饮料行业的平均数值。市销率目前16倍多，也高于不到15倍的行业平均值。\n\n还值得注意的是，最近1年里海天味业的股东数，从4万多户增加到2021年半年末时的16万多户，增加了3倍。这是什么概念？\n从2014年上市到2020年这6年时间，海天味业的股东数量只是从2.4万左右增加到大概4.8万。也就是说，过去1年里，海天味业增加的股东数远超于过去6年增加的总和。\n这意味着大量散户的进场，也意味着机构持股的减少。这是啥信号？","news_type":1,"symbols_score_info":{"603288":0.9}},"isVote":1,"tweetType":1,"viewCount":741,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831862976,"gmtCreate":1629301092295,"gmtModify":1676529997893,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/831862976","repostId":"1134934979","repostType":4,"repost":{"id":"1134934979","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1629296884,"share":"https://ttm.financial/m/news/1134934979?lang=en_US&edition=fundamental","pubTime":"2021-08-18 22:28","market":"us","language":"zh","title":"The financial report was recognized, and Tencent's ADR rose rapidly by nearly 5%","url":"https://stock-news.laohu8.com/highlight/detail?id=1134934979","media":"老虎资讯综合","summary":"周三盘中，$腾讯控股ADR(TCEHY)$快速拉升，现涨近5%，股价报57.78美元，成交额超1亿美元。今日公布的财报显示，腾讯二季度营收1382.59亿人民币，同比增长20%。二季度净利润426亿人民币，同比增长29%。\n\n\n【详情查看】腾讯财报超预期，首度披露小学生游戏流水占比","content":"<p>Wednesday intraday,<a href=\"https://laohu8.com/S/TCEHY\">Tencent Holdings ADR</a>It rose rapidly and is now up nearly 5%. The stock price is reported at US $57.78, and the turnover exceeds US $100 million. The financial report released today shows that Tencent's revenue in the second quarter was 138.259 billion yuan, a year-on-year increase of 20%. Net profit in the second quarter was 42.6 billion yuan, a year-on-year increase of 29%.</p><p>[View for details]<a href=\"https://laohu8.com/NW/1183521984\" target=\"_blank\">Tencent's financial report exceeded expectations, disclosing the proportion of primary school students' game turnover for the first time</a></p><p><img src=\"https://static.tigerbbs.com/18657681e04d47136e2634a1bb31566d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The financial report was recognized, and Tencent's ADR rose rapidly by nearly 5%</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 financial report was recognized, and Tencent's ADR rose rapidly by nearly 5%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-18 22:28</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Wednesday intraday,<a href=\"https://laohu8.com/S/TCEHY\">Tencent Holdings ADR</a>It rose rapidly and is now up nearly 5%. The stock price is reported at US $57.78, and the turnover exceeds US $100 million. The financial report released today shows that Tencent's revenue in the second quarter was 138.259 billion yuan, a year-on-year increase of 20%. Net profit in the second quarter was 42.6 billion yuan, a year-on-year increase of 29%.</p><p>[View for details]<a href=\"https://laohu8.com/NW/1183521984\" target=\"_blank\">Tencent's financial report exceeded expectations, disclosing the proportion of primary school students' game turnover for the first time</a></p><p><img src=\"https://static.tigerbbs.com/18657681e04d47136e2634a1bb31566d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"00700":"腾讯控股"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134934979","content_text":"周三盘中，腾讯控股ADR快速拉升，现涨近5%，股价报57.78美元，成交额超1亿美元。今日公布的财报显示，腾讯二季度营收1382.59亿人民币，同比增长20%。二季度净利润426亿人民币，同比增长29%。\n【详情查看】腾讯财报超预期，首度披露小学生游戏流水占比","news_type":1,"symbols_score_info":{"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":910,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892025698,"gmtCreate":1628613588814,"gmtModify":1676529798581,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/892025698","repostId":"2158047258","repostType":4,"repost":{"id":"2158047258","kind":"highlight","pubTimestamp":1628609622,"share":"https://ttm.financial/m/news/2158047258?lang=en_US&edition=fundamental","pubTime":"2021-08-10 23:33","market":"us","language":"zh","title":"Great Ebb Tide: Can plummeting shells still go ashore?","url":"https://stock-news.laohu8.com/highlight/detail?id=2158047258","media":"虎嗅","summary":"贝壳正站在悬崖边，股价一度跌破发行价。\n中概股暴跌，波及到贝壳。美国东部时间8月5日收盘，贝壳跌破发行价至19.81美元每股、市值236亿美元（人民币约1525.39亿元），与去年8月刚上市相比，市值","content":"<p><a href=\"https://laohu8.com/S/BEKE\">Shells</a>Standing on the edge of a cliff, the stock price once fell below the issue price.</p><p>Chinese concept stocks plummeted, spreading to shells. At the close of trading on August 5, Eastern Time, Keike fell below the issue price to US $19.81 per share, with a market value of US $23.6 billion (approximately RMB 152.539 billion). Compared with its listing in August last year, the market value has shrunk by more than half.</p><p>It is not unreasonable that the shell was affected this time. All along, there have been constant voices questioning the monopoly of this real estate agent \"Big Mac\".</p><p>Remediation came soon. On July 23, eight departments including the Ministry of Housing and Urban-Rural Development, the National Development and Reform Commission, and the Ministry of Public Security issued a notice on continuously rectifying and standardizing the order of the real estate market.</p><p>The situation has suddenly changed, and Gao Ge Kaijin's intermediary agencies are facing strong rectification. Zuo Hui, the founder of Keike, has passed away. Can Keike led by its successor get out of its hesitation?</p><p><img src=\"https://static.tigerbbs.com/4ee4a6f1c40c1e7f49292c6ff0039d5b\" tg-width=\"1000\" tg-height=\"750\" referrerpolicy=\"no-referrer\">Photo by Sister Morse of a shell contract service center in Yubei, Chongqing</p><p>Shell Story</p><p>Keike, the largest real estate trading platform in China, has received mixed reviews in the industry.</p><p>In 2001, Zuo Hui founded Chain Home, honestly engaged in the intermediary business of matching real estate transactions, and embraced the Internet from time to time to prevent being photographed on the beach.</p><p>Looking back at the development history of this company, under the leadership of Zuo Hui, Chain Home has successively merged Yicheng, Deyou, Yijia, Zhonglian, Beijing Gaoce, Shengshi Guanjia, Daxingye, Furui Real Estate, Mantanghong, Haomongkok and Yuansheng Real Estate in different ways in first-and second-tier developed cities such as Chengdu, Shanghai, Beijing, Shenzhen and Hangzhou.</p><p><img src=\"https://static.tigerbbs.com/5247820fa7ed73839a30febdeafe6100\" tg-width=\"1000\" tg-height=\"578\" referrerpolicy=\"no-referrer\">The development history of shells, drawing by Sister Morse</p><p>This is not enough. Zuo Hui takes Peng Yongdong (now the chairman and CEO of Keike Housing Search) as the pioneer to expand his territory on the Internet. In April 2018, amid a lot of doubts, Keike House Search went online, and it was positioned as an open industry platform. In fact, Peng Yongdong also has questions in his heart. After all, he already has Lianjia.com. Will it \"waste people and money\" to make shells that were shelved in 2014?</p><p>In fact, the essential difference between them is that the traditional intermediary that Chain Home focuses on is not good at telling stories in the capital market, while the story of Keike, which focuses on the Internet technology platform, is more attractive. Keike is actually a means to alleviate the dilemma of Chain Home's listing.</p><p>The development platform of Keike is reflected in the rapid expansion and cooperation of offline stores and intermediaries through ACN network (note: broker collaboration network).</p><p>The intermediary brands settled in the shell platform can obtain more houses and potential customers through shared resources, and promote the transaction of commercial housing. After the transaction, according to the current ACN network rules, the shell platform and the brand side will deduct the performance commission of the store's transaction according to a certain percentage, and the rest will be shared by the store, transaction broker, listing entry, maintainer, recommender, financial consultant, etc. All roles share together.</p><p>In a transaction, more than 10 people may participate, which is the finishing touch of the shell.</p><p>On the road of expansion, Keike has increased its bargaining chips in the field of second-hand housing, obtained cooperative brand franchises through profit sharing, and exchanged the decline in commission rate for an increase in the overall market share. Its overall GTV has increased from 0.7 trillion yuan in 2017 to 1.9 trillion yuan in 2020, the commission rate has dropped from 2.5% to 1.6%, and its overall market share has increased from 12.3% to 26.2%.</p><p>Through this model, each participant gets a transaction share, which fattens the size of the shell.</p><p>According to the prospectus of Keike, Keike has become China's second largest commercial platform in 2019, second only to Taobao, and higher than<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/JD\">JD.com</a>, Ctrip, etc.</p><p>As the leading real estate agency, as of the disclosure of the 2020 annual report, Keike has 47,000 offline stores, 493,100 intermediaries, and 9.11 million online VR houses.</p><p>Among them, Keike has two large-scale entities, one is the direct lineage, which accounts for 80%, and the other is the cooperative franchise brand such as 21st Century Real Estate, which accounts for 20%.</p><p>In the intermediary industry without technical content, scale alone is not enough. Therefore, in order to compete with competitors, Keike standardized the three major elements of housing data, services and brokers, and strengthened the moat, which is also an important foundation for its uniqueness in the industry.</p><p>Especially in terms of housing data, Keike relies on the collection of housing information and the construction of a \"real estate dictionary\" implemented by Chain Home since 2009 to start the verification of real housing listings. As of the end of the first quarter of 2020, \"Real Estate Dictionary\" had information on 226 million real houses. Sitting on a huge market size and blessing real houses, this is a competitive barrier that outside peers cannot match.</p><p>Keike's ACN broker cooperation network model and the concept of \"real estate dictionary\", a large database of housing information, have poked the interest of overseas investors.</p><p>On August 13, 2020, Keike successfully IPO, raising more than US $2 billion, an increase of more than 80% that day, and its market value reached more than 290 billion yuan. At that time, the market value of Keike was equivalent to 1.5<a href=\"https://laohu8.com/S/02007\">Country Garden</a>, 2 Sunac.</p><p>Under the influence of huge transaction data of existing housing business (second-hand housing intermediary and leasing intermediary business) and new housing business, Keike's total transaction volume in 2020 will be 3.5 trillion yuan, its revenue will be 70.5 billion yuan, and its net profit will be 2.78 billion yuan.</p><p>\"Monopoly\" questioning</p><p>Too big to fail is usually people's doubts about the disorderly expansion of capital and the monopoly of everything. Today, the shell, which has become the \"target of public criticism\", also faces this problem.</p><p>After Beike became a platform, it jumped to a higher level, and its profit model was upgraded from doing it yourself to letting other companies work for it. It's understandable that the settled intermediary is drawn a commission. If any platform adopts strong control for a long time to squeeze it, it will inevitably cause a rebound.</p><p>To what extent is the control strong? After settling in, you can no longer join other platforms, and under the revenue sharing model, the settled intermediaries need to hand over core secrets such as personnel and financial rights to Keike.</p><p>Based on a set of assessment criteria, intermediaries are divided into four grades: A, B, C and D. Each level has different permissions. C-level and D-level stores have relatively few customer sources and listing viewing permissions. Brokers will also be divided into different levels, and the exposure rate will also be different.</p><p>This strong control of Keike has caused intermediaries in the industry (including those who have not settled in Keike and those who have already settled in Keike) to complain, and there have been many boycotts.</p><p>Two of them have been criticized:</p><p><ul><li>As a self-operated project of Keike, Lianjia is considered to have received more resource tilt and platform exposure, which has been criticized as \"both making rules and playing the game, and being both a referee and an athlete\";</p><p></li></ul><ul><li>Keike is in an absolute leading position in the industry, which can easily lead to the overhead brand of cooperative intermediaries, the loss of teams, the handover of commercial secrets such as houses and customers, and the commission can only be at the mercy of Keike.</p><p></li></ul>In fact, developers are not very happy either.</p><p>In the field of new houses, Keike's A-level and B-level cooperation implements the exclusive distribution of \"I have no him, he has no me\", that is, real estate companies cannot choose other channel providers if they choose Keike; Only in C-level cooperation can real estate companies cooperate with other channel providers at the same time.</p><p>How high is the status of shells? \"It's really simple to be a real estate executive now, either come up with a tried-and-tried killer to cut prices; or persuade the boss to go to the shell.\" An industry insider said distressed.</p><p>Keike controls the right to speak, and the pricing power of profit sharing is also in its hands. The commission rate of Keike new houses increased from 2.54% in 2017 to 2.74% in 2020. Under the high commission, the total transaction volume of Keike's new house business increased from 252.6 billion yuan to 1.4 trillion yuan. When it is high, the shell commission is equivalent to the universe real estate company<a href=\"https://laohu8.com/S/03333\">China Evergrande</a>(03333. HK) net profit margin of 6% in 2020.</p><p>Keike stood at the top of real estate profit sharing, and even overwhelmed the always strong developers. Some people quit, Evergrande took the lead in offering RV treasure to compete, and other real estate companies also began to build their own marketing channels.</p><p>Keike's envious dividends and crushing competition methods make other Internet peers feel quite uncomfortable.</p><p>On April 10 this year,<a href=\"https://laohu8.com/S/WUBA\">58.com</a>CEO Yao Jinbo angrily sent this message<a href=\"https://laohu8.com/S/WB\">Weibo</a>: \"In the field of real estate transactions, there are more blatant choices packaged as voluntary, strongly calling on the national anti-monopoly fine Keike 4 billion yuan for looking for a house.\"</p><p>Since 2019, Jinhua, Shaoxing,<a href=\"https://laohu8.com/S/N4E.SI\">Nanchang</a>In many places, there have been \"anti-shell alliances\" in which real estate agents boycott shells. It was Yao Jinbo who \"reversed the shell\" earlier. In June 2018, 58 City United<a href=\"https://laohu8.com/S/000560\">I love my family</a>, Centaline Real Estate, 21st Century Real Estate and other housing agents established the \"Anti-Shell Alliance\".</p><p>With the expansion of the scale of Keike, Keike has unlimited possibilities in data applications, and this unlimited possibility hides the danger of stepping on antitrust.</p><p>Once the shell becomes the \"channel terminator\", all customers have to be obtained through the shell. In this way, Keike has grasped the more realistic transaction situation of the real estate market.</p><p>Compared with the lagging data of online signing, and the price and transaction volume of new houses are easily affected by supply and location, the second-hand housing market is a freer market, and its transaction situation can often better reflect the actual temperature of the urban real estate market.</p><p>Therefore, the future application scenarios of the database built by Keike have a lot of room for imagination, including but not limited to the basis of government policy formulation, the basis of real estate market investment and the basis of investment institutions.</p><p>The tide has ebbed</p><p>Keike, which has been criticized for monopoly, may feel innocent.</p><p>Keike has developed rapidly in recent years and has become a well-deserved industry leader.</p><p>Zuo Hui, who once suffered from black intermediaries, said before his death, \"I am a long-termist, I don't care about short-term interests, and I am more willing to do that kind of difficult and correct thing.\" It is this idealistic plot under the guidance that Keike did fight his way out.</p><p>In recent years, relevant departments have proposed \"strengthening anti-monopoly and preventing disorderly expansion of capital\" three times in a row. This made many industry giants suspected of monopoly tremble.</p><p>In the second-hand housing market, Lianjia, the predecessor of Keike, had a precedent of being investigated and punished for suspected monopoly.</p><p>Chain Home, the predecessor of Keike, invented the \"exclusive housing entrustment\" transaction model and paid a price for it. In 2016, Chain Home was investigated and punished for suspected monopoly in first-tier cities such as Beijing and Shanghai.</p><p>Antitrust actions in the field of real estate transactions are intensifying. Previously, the Internet platform enterprise administrative guidance meeting led by relevant departments, among the 34 Internet enterprises attending the meeting, except<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Waiting for giants, there are also shells looking for houses.</p><p>Since July, efforts to rectify the chaos of real estate transactions have continued to increase. Everyone is waiting to see. Who will be the first bird to be beaten?</p><p>Under the background of \"the higher the house price, the higher the turnover of the house, and the more the commission of the intermediary\", the existing business behavior and marketing methods of real estate agents have become one of the important combustion accelerants for the rise of house prices. It is nothing new for some intermediaries to participate in promoting the enthusiasm for real estate speculation.</p><p>In the recently reported \"Shenzhen Housing Management\" incident, 44 intermediaries were included in the \"blacklist\" for providing convenience for illegal real estate speculation.</p><p>Since 2021, Keike House Search has successively raised agency fees in some key cities in China, including Shanghai, Shenzhen, Guangzhou, Chengdu, Zhengzhou, Chongqing and other places, from 2% in the past to 3%, of which buyers bear 2%, and sellers bear 1% (0% in the past). The wool comes from the sheep, and the price of second-hand houses is naturally affected.</p><p>For the intermediary, although the commission can increase the profit of the intermediary, it will also have other negative effects. In December 2014, the competent price department of Tianjin fined a total of 5.31 million yuan for the price conspiracy of I Love My Home, Chain Home Real Estate and Zhongyuan Real Estate to raise the agency fee at the same time.</p><p>Under the increasing regulatory pressure, the second-hand housing market business is becoming more and more difficult to do.</p><p>According to the latest data from the agency, the transaction volume of second-hand houses in 10 major cities across the country fell by 30% in July, which was much higher than that of new houses.</p><p>In April 2018, the shell went online; On August 13, 2020, Keike was listed on Nasdaq; In the Fortune China 500 list released in July 2021, Keike ranked 164th.</p><p>Undoubtedly, the shells of the past have caught up with the good times, and the shells of the future should get used to the ebb and flow of the tide. Hsu Jiaying once sang this in the song \"Shell\": \"I am a shell, and I can't advance or retreat between the sea and the sand. The sand's heart can't guess, and the sea is still waiting with no regrets.\"</p>","source":"highlight_huxiu","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>Great Ebb Tide: Can plummeting shells still go ashore?</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\">\nGreat Ebb Tide: Can plummeting shells still go ashore?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">虎嗅</strong><span class=\"h-time small\">2021-08-10 23:33</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/BEKE\">Shells</a>Standing on the edge of a cliff, the stock price once fell below the issue price.</p><p>Chinese concept stocks plummeted, spreading to shells. At the close of trading on August 5, Eastern Time, Keike fell below the issue price to US $19.81 per share, with a market value of US $23.6 billion (approximately RMB 152.539 billion). Compared with its listing in August last year, the market value has shrunk by more than half.</p><p>It is not unreasonable that the shell was affected this time. All along, there have been constant voices questioning the monopoly of this real estate agent \"Big Mac\".</p><p>Remediation came soon. On July 23, eight departments including the Ministry of Housing and Urban-Rural Development, the National Development and Reform Commission, and the Ministry of Public Security issued a notice on continuously rectifying and standardizing the order of the real estate market.</p><p>The situation has suddenly changed, and Gao Ge Kaijin's intermediary agencies are facing strong rectification. Zuo Hui, the founder of Keike, has passed away. Can Keike led by its successor get out of its hesitation?</p><p><img src=\"https://static.tigerbbs.com/4ee4a6f1c40c1e7f49292c6ff0039d5b\" tg-width=\"1000\" tg-height=\"750\" referrerpolicy=\"no-referrer\">Photo by Sister Morse of a shell contract service center in Yubei, Chongqing</p><p>Shell Story</p><p>Keike, the largest real estate trading platform in China, has received mixed reviews in the industry.</p><p>In 2001, Zuo Hui founded Chain Home, honestly engaged in the intermediary business of matching real estate transactions, and embraced the Internet from time to time to prevent being photographed on the beach.</p><p>Looking back at the development history of this company, under the leadership of Zuo Hui, Chain Home has successively merged Yicheng, Deyou, Yijia, Zhonglian, Beijing Gaoce, Shengshi Guanjia, Daxingye, Furui Real Estate, Mantanghong, Haomongkok and Yuansheng Real Estate in different ways in first-and second-tier developed cities such as Chengdu, Shanghai, Beijing, Shenzhen and Hangzhou.</p><p><img src=\"https://static.tigerbbs.com/5247820fa7ed73839a30febdeafe6100\" tg-width=\"1000\" tg-height=\"578\" referrerpolicy=\"no-referrer\">The development history of shells, drawing by Sister Morse</p><p>This is not enough. Zuo Hui takes Peng Yongdong (now the chairman and CEO of Keike Housing Search) as the pioneer to expand his territory on the Internet. In April 2018, amid a lot of doubts, Keike House Search went online, and it was positioned as an open industry platform. In fact, Peng Yongdong also has questions in his heart. After all, he already has Lianjia.com. Will it \"waste people and money\" to make shells that were shelved in 2014?</p><p>In fact, the essential difference between them is that the traditional intermediary that Chain Home focuses on is not good at telling stories in the capital market, while the story of Keike, which focuses on the Internet technology platform, is more attractive. Keike is actually a means to alleviate the dilemma of Chain Home's listing.</p><p>The development platform of Keike is reflected in the rapid expansion and cooperation of offline stores and intermediaries through ACN network (note: broker collaboration network).</p><p>The intermediary brands settled in the shell platform can obtain more houses and potential customers through shared resources, and promote the transaction of commercial housing. After the transaction, according to the current ACN network rules, the shell platform and the brand side will deduct the performance commission of the store's transaction according to a certain percentage, and the rest will be shared by the store, transaction broker, listing entry, maintainer, recommender, financial consultant, etc. All roles share together.</p><p>In a transaction, more than 10 people may participate, which is the finishing touch of the shell.</p><p>On the road of expansion, Keike has increased its bargaining chips in the field of second-hand housing, obtained cooperative brand franchises through profit sharing, and exchanged the decline in commission rate for an increase in the overall market share. Its overall GTV has increased from 0.7 trillion yuan in 2017 to 1.9 trillion yuan in 2020, the commission rate has dropped from 2.5% to 1.6%, and its overall market share has increased from 12.3% to 26.2%.</p><p>Through this model, each participant gets a transaction share, which fattens the size of the shell.</p><p>According to the prospectus of Keike, Keike has become China's second largest commercial platform in 2019, second only to Taobao, and higher than<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/JD\">JD.com</a>, Ctrip, etc.</p><p>As the leading real estate agency, as of the disclosure of the 2020 annual report, Keike has 47,000 offline stores, 493,100 intermediaries, and 9.11 million online VR houses.</p><p>Among them, Keike has two large-scale entities, one is the direct lineage, which accounts for 80%, and the other is the cooperative franchise brand such as 21st Century Real Estate, which accounts for 20%.</p><p>In the intermediary industry without technical content, scale alone is not enough. Therefore, in order to compete with competitors, Keike standardized the three major elements of housing data, services and brokers, and strengthened the moat, which is also an important foundation for its uniqueness in the industry.</p><p>Especially in terms of housing data, Keike relies on the collection of housing information and the construction of a \"real estate dictionary\" implemented by Chain Home since 2009 to start the verification of real housing listings. As of the end of the first quarter of 2020, \"Real Estate Dictionary\" had information on 226 million real houses. Sitting on a huge market size and blessing real houses, this is a competitive barrier that outside peers cannot match.</p><p>Keike's ACN broker cooperation network model and the concept of \"real estate dictionary\", a large database of housing information, have poked the interest of overseas investors.</p><p>On August 13, 2020, Keike successfully IPO, raising more than US $2 billion, an increase of more than 80% that day, and its market value reached more than 290 billion yuan. At that time, the market value of Keike was equivalent to 1.5<a href=\"https://laohu8.com/S/02007\">Country Garden</a>, 2 Sunac.</p><p>Under the influence of huge transaction data of existing housing business (second-hand housing intermediary and leasing intermediary business) and new housing business, Keike's total transaction volume in 2020 will be 3.5 trillion yuan, its revenue will be 70.5 billion yuan, and its net profit will be 2.78 billion yuan.</p><p>\"Monopoly\" questioning</p><p>Too big to fail is usually people's doubts about the disorderly expansion of capital and the monopoly of everything. Today, the shell, which has become the \"target of public criticism\", also faces this problem.</p><p>After Beike became a platform, it jumped to a higher level, and its profit model was upgraded from doing it yourself to letting other companies work for it. It's understandable that the settled intermediary is drawn a commission. If any platform adopts strong control for a long time to squeeze it, it will inevitably cause a rebound.</p><p>To what extent is the control strong? After settling in, you can no longer join other platforms, and under the revenue sharing model, the settled intermediaries need to hand over core secrets such as personnel and financial rights to Keike.</p><p>Based on a set of assessment criteria, intermediaries are divided into four grades: A, B, C and D. Each level has different permissions. C-level and D-level stores have relatively few customer sources and listing viewing permissions. Brokers will also be divided into different levels, and the exposure rate will also be different.</p><p>This strong control of Keike has caused intermediaries in the industry (including those who have not settled in Keike and those who have already settled in Keike) to complain, and there have been many boycotts.</p><p>Two of them have been criticized:</p><p><ul><li>As a self-operated project of Keike, Lianjia is considered to have received more resource tilt and platform exposure, which has been criticized as \"both making rules and playing the game, and being both a referee and an athlete\";</p><p></li></ul><ul><li>Keike is in an absolute leading position in the industry, which can easily lead to the overhead brand of cooperative intermediaries, the loss of teams, the handover of commercial secrets such as houses and customers, and the commission can only be at the mercy of Keike.</p><p></li></ul>In fact, developers are not very happy either.</p><p>In the field of new houses, Keike's A-level and B-level cooperation implements the exclusive distribution of \"I have no him, he has no me\", that is, real estate companies cannot choose other channel providers if they choose Keike; Only in C-level cooperation can real estate companies cooperate with other channel providers at the same time.</p><p>How high is the status of shells? \"It's really simple to be a real estate executive now, either come up with a tried-and-tried killer to cut prices; or persuade the boss to go to the shell.\" An industry insider said distressed.</p><p>Keike controls the right to speak, and the pricing power of profit sharing is also in its hands. The commission rate of Keike new houses increased from 2.54% in 2017 to 2.74% in 2020. Under the high commission, the total transaction volume of Keike's new house business increased from 252.6 billion yuan to 1.4 trillion yuan. When it is high, the shell commission is equivalent to the universe real estate company<a href=\"https://laohu8.com/S/03333\">China Evergrande</a>(03333. HK) net profit margin of 6% in 2020.</p><p>Keike stood at the top of real estate profit sharing, and even overwhelmed the always strong developers. Some people quit, Evergrande took the lead in offering RV treasure to compete, and other real estate companies also began to build their own marketing channels.</p><p>Keike's envious dividends and crushing competition methods make other Internet peers feel quite uncomfortable.</p><p>On April 10 this year,<a href=\"https://laohu8.com/S/WUBA\">58.com</a>CEO Yao Jinbo angrily sent this message<a href=\"https://laohu8.com/S/WB\">Weibo</a>: \"In the field of real estate transactions, there are more blatant choices packaged as voluntary, strongly calling on the national anti-monopoly fine Keike 4 billion yuan for looking for a house.\"</p><p>Since 2019, Jinhua, Shaoxing,<a href=\"https://laohu8.com/S/N4E.SI\">Nanchang</a>In many places, there have been \"anti-shell alliances\" in which real estate agents boycott shells. It was Yao Jinbo who \"reversed the shell\" earlier. In June 2018, 58 City United<a href=\"https://laohu8.com/S/000560\">I love my family</a>, Centaline Real Estate, 21st Century Real Estate and other housing agents established the \"Anti-Shell Alliance\".</p><p>With the expansion of the scale of Keike, Keike has unlimited possibilities in data applications, and this unlimited possibility hides the danger of stepping on antitrust.</p><p>Once the shell becomes the \"channel terminator\", all customers have to be obtained through the shell. In this way, Keike has grasped the more realistic transaction situation of the real estate market.</p><p>Compared with the lagging data of online signing, and the price and transaction volume of new houses are easily affected by supply and location, the second-hand housing market is a freer market, and its transaction situation can often better reflect the actual temperature of the urban real estate market.</p><p>Therefore, the future application scenarios of the database built by Keike have a lot of room for imagination, including but not limited to the basis of government policy formulation, the basis of real estate market investment and the basis of investment institutions.</p><p>The tide has ebbed</p><p>Keike, which has been criticized for monopoly, may feel innocent.</p><p>Keike has developed rapidly in recent years and has become a well-deserved industry leader.</p><p>Zuo Hui, who once suffered from black intermediaries, said before his death, \"I am a long-termist, I don't care about short-term interests, and I am more willing to do that kind of difficult and correct thing.\" It is this idealistic plot under the guidance that Keike did fight his way out.</p><p>In recent years, relevant departments have proposed \"strengthening anti-monopoly and preventing disorderly expansion of capital\" three times in a row. This made many industry giants suspected of monopoly tremble.</p><p>In the second-hand housing market, Lianjia, the predecessor of Keike, had a precedent of being investigated and punished for suspected monopoly.</p><p>Chain Home, the predecessor of Keike, invented the \"exclusive housing entrustment\" transaction model and paid a price for it. In 2016, Chain Home was investigated and punished for suspected monopoly in first-tier cities such as Beijing and Shanghai.</p><p>Antitrust actions in the field of real estate transactions are intensifying. Previously, the Internet platform enterprise administrative guidance meeting led by relevant departments, among the 34 Internet enterprises attending the meeting, except<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Waiting for giants, there are also shells looking for houses.</p><p>Since July, efforts to rectify the chaos of real estate transactions have continued to increase. Everyone is waiting to see. Who will be the first bird to be beaten?</p><p>Under the background of \"the higher the house price, the higher the turnover of the house, and the more the commission of the intermediary\", the existing business behavior and marketing methods of real estate agents have become one of the important combustion accelerants for the rise of house prices. It is nothing new for some intermediaries to participate in promoting the enthusiasm for real estate speculation.</p><p>In the recently reported \"Shenzhen Housing Management\" incident, 44 intermediaries were included in the \"blacklist\" for providing convenience for illegal real estate speculation.</p><p>Since 2021, Keike House Search has successively raised agency fees in some key cities in China, including Shanghai, Shenzhen, Guangzhou, Chengdu, Zhengzhou, Chongqing and other places, from 2% in the past to 3%, of which buyers bear 2%, and sellers bear 1% (0% in the past). The wool comes from the sheep, and the price of second-hand houses is naturally affected.</p><p>For the intermediary, although the commission can increase the profit of the intermediary, it will also have other negative effects. In December 2014, the competent price department of Tianjin fined a total of 5.31 million yuan for the price conspiracy of I Love My Home, Chain Home Real Estate and Zhongyuan Real Estate to raise the agency fee at the same time.</p><p>Under the increasing regulatory pressure, the second-hand housing market business is becoming more and more difficult to do.</p><p>According to the latest data from the agency, the transaction volume of second-hand houses in 10 major cities across the country fell by 30% in July, which was much higher than that of new houses.</p><p>In April 2018, the shell went online; On August 13, 2020, Keike was listed on Nasdaq; In the Fortune China 500 list released in July 2021, Keike ranked 164th.</p><p>Undoubtedly, the shells of the past have caught up with the good times, and the shells of the future should get used to the ebb and flow of the tide. Hsu Jiaying once sang this in the song \"Shell\": \"I am a shell, and I can't advance or retreat between the sea and the sand. The sand's heart can't guess, and the sea is still waiting with no regrets.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.huxiu.com/article/447430.html\">虎嗅</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4ee4a6f1c40c1e7f49292c6ff0039d5b","relate_stocks":{"BEKE":"贝壳"},"source_url":"https://www.huxiu.com/article/447430.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158047258","content_text":"贝壳正站在悬崖边，股价一度跌破发行价。\n中概股暴跌，波及到贝壳。美国东部时间8月5日收盘，贝壳跌破发行价至19.81美元每股、市值236亿美元（人民币约1525.39亿元），与去年8月刚上市相比，市值缩水了一半以上。\n贝壳这次被波及并非没有道理。一直以来，质疑这个地产中介“巨无霸”垄断的声音不断。\n整治很快降临。7月23日，住房城乡建设部、国家发展改革委、公安部等八部门发布了关于持续整治规范房地产市场秩序的通知。\n形势陡然生变，高歌凯进的中介机构面临强力整治。贝壳创始人左晖已逝，接任者带领的贝壳能走出彷徨吗？\n重庆渝北某贝壳签约服务中心 Morse姐摄\n贝壳故事\n贝壳这个国内最大的房地产交易平台，业内对于其评价褒贬不一。\n2001年，左晖创立了链家，老老实实地做着撮合房产交易的中介生意，还不时拥抱互联网防止被拍在沙滩上。\n回顾这家公司的发展历程，在左晖的带领下，链家以扫荡式的气势，先后在成都、上海、北京、深圳、杭州等一二线发达城市以不同方式合并了伊诚、德佑、易家、中联、北京高策、盛世管家、大兴业、孚瑞不动产、满堂红、好旺角、元盛房产等共计11家房地产中介企业。\n贝壳发展历程 Morse姐制图\n这还不够，左晖以彭永东（现贝壳找房董事长、CEO）为先锋，在互联网开疆拓土。2018年4月，在一片质疑声中，贝壳找房上线，它被定位为开放的行业平台。其实，彭永东心里也有疑问，毕竟已经有了链家网，再做2014年就搁置的贝壳会不会“劳民伤财”？\n其实这中间本质的区别是，链家主打的传统中介在资本市场不好讲故事，而主打互联网科技平台的贝壳的故事更诱人，贝壳实为纾解链家上市困境的手段。\n贝壳的开发平台体现在，通过ACN网络（注：经纪人协作网络）快速拓展、合作线下门店与中介。\n入驻贝壳平台的中介品牌，可通过共享的资源获得更多的房源及潜在客户，促进商品房成交。成交后，按照目前ACN网络规则，贝壳平台与品牌方按照一定比例扣收门店成交的业绩分佣，剩余部分由门店、成交经纪人、房源录入者、维护人、推荐人、金融顾问等各方角色共同分享。\n一次交易中，参与的人可能达到10人以上，这便是贝壳点睛之处。\n扩张路上，贝壳在二手房领域加大筹码，通过让利获得合作品牌加盟，用提佣率的下滑换取整体市场占有率提升。其整体GTV从2017年0.7万亿元增长至2020年1.9万亿元，提佣率从2.5%下降至1.6%，整体市占率从12.3%提升至26.2%。\n通过这个模式，每个参与者分到交易分成，并催肥了贝壳的体量。\n贝壳招股书显示，贝壳2019年就已成为中国第二大商业平台，仅次于淘宝，而高于拼多多、京东、携程等。\n作为房地产中介龙头，截至2020年报披露时，贝壳线下门店4.7万家，中介49.31万人，线上VR房源911万套。\n这当中，贝壳有两个规模较大的主体，一个是占比80%的嫡系的链家，另一个是占比20%的21世纪不动产等合作加盟品牌。\n在没有技术含量的中介行业，光有规模是不够的。于是，为对抗竞争者，贝壳实施房屋数据、服务和经纪人三大元素标准化，加固护城河，这也是其在业界独树一帜的重要基础。\n尤其是在房屋数据方面，贝壳依托链家自2009年就实施的搜集房屋信息、构筑“楼盘字典”，开启真房源验证。截至2020年第一季度末，“楼盘字典”拥有2.26亿套真实房屋信息。坐拥巨大市场规模下，加持真房源，这是外界同行难以匹敌的竞争壁垒。\n贝壳的ACN经纪人合作网络模式以及打造的房屋信息大数据库“楼盘字典”等概念，戳中了海外投资者的兴趣点。\n2020年8月13日，贝壳成功IPO，募资超过20亿美元，当日涨幅超过80%，市值达到 2900多亿元人民币。彼时，贝壳的市值相当于1.5个碧桂园、2个融创。\n存量房业务（二手房中介和租赁中介业务）和新房业务庞大交易数据的影响下，贝壳2020年总交易额3.5万亿元，收入705亿元，净利润27.8亿元。\n“垄断”质疑\n大而不倒，通常是人们对资本无序扩张且垄断一切的质疑，今天成为“众矢之的”的贝壳同样面临这个问题。\n贝壳成为平台后就跃升到更高的台阶，它的盈利模式从之前的自己动手升级为让其他公司为它打工。入驻的中介被抽取佣金这倒无可厚非。任何平台如果长期采取强管控来压榨，必然会引起反弹。\n强管控到什么程度？入驻之后就不能再加入其它平台，而且在收入分成模式下，入驻的中介需要把人事、 财权等核心机密上交贝壳。\n基于一套考核标准，中介被分为 A、B、C、D四个等级。每个等级拥有不同的权限，C等级和D等级的门店在客源和房源查看权限等方面相对较少，经纪人也会分为不同等级，曝光率也会有所差异。\n贝壳这种强管控，使行业内中介（既包括未入驻贝壳，也包括已经入驻贝壳的）怨声载道，出现了很多抵制行为。\n其中有两点一直被诟病：\n\n链家作为贝壳的自营项目，被认为得到了更多的资源倾斜和平台曝光，这被批评为“既制定规则又下场比赛，既当裁判又当运动员”；\n\n\n贝壳处于行业绝对领先地位，容易导致合作中介被架空品牌、失去团队，交出房源和客户等商业机密，分佣抽成也只能听任贝壳摆布。\n\n其实，开发商也不太开心。\n在新房领域，贝壳A级、B级合作实行“有我没他，有他没我”排他性式分销，也就是房企选了贝壳就不能选择其他渠道商；只有在C级合作中，房企才能同时与其他渠道商合作。\n贝壳的地位有多高？“现在做房地产高管真的很简单，要么拿出百试不爽的杀手锏降价；要么说服老板上贝壳。”一个业内人士苦恼道。\n贝壳掌控了话语权，利润分成的定价权也握在了手里。贝壳新房提佣率从2017年的2.54%提升至2020年的2.74%。高佣金下，贝壳新房业务总交易额从2526亿元增长至1.4万亿元。高的时候，贝壳佣金等同于宇宙房企中国恒大（03333.HK）2020年6%的净利率。\n贝壳站在了房地产利润分成的顶端，甚至把一向强势的开发商压过一头。一些人不干了，恒大率先祭出房车宝抗衡，其他房企也开始自建营销渠道。\n贝壳让人嫉妒的红利，以及碾压式竞争方式，让其他互联网同行颇感不适。\n今年4月10日，58同城CEO姚劲波愤愤地发了这么个微博：“房产交易领域有更明目张胆地二选一包装成自愿，强烈呼吁国家反垄断罚款贝壳找房40亿元。”\n自2019年以来，金华、绍兴、南昌等多地出现了房产中介抵制贝壳的“反壳联盟”。更早“反壳”的还是姚劲波。2018年6月，58同城联合我爱我家、中原地产、21世纪不动产等房屋中介成立了“反贝壳联盟”。\n随着贝壳规模的扩大，贝壳在数据应用方面拥有无限可能，这种无限可能暗藏着踩上反垄断的危险。\n贝壳一旦成为 “渠道终结者”，所有客源都得通过贝壳获得。借此，贝壳掌握了房地产市场更加真实的成交情况。\n相比网签数据较滞后，且新房价格及成交量容易受供给量、所处区位等影响，二手房市场反而作为一个更加自由的市场，其成交情况往往更能反映城市房地产市场的实际温度。\n因此，贝壳构建的数据库未来的应用场景想象空间很大，包括但不限于政府政策制定依据、房企市场投资依据和投资机构投资依据等。\n大退潮了\n被诟病涉嫌垄断的贝壳，或许会觉得无辜。\n贝壳这些年发展迅猛，已经成为当之无愧的行业龙头。\n曾经饱受黑中介之苦的左晖生前说，“自己是一个长期主义者，不关心短期的利益，更加愿意去做那种难而正确的事情。”正是这种理想主义情节指引下，贝壳确实杀出了一条血路。\n近年来，相关部门已连续三次提出“强化反垄断和防止资本无序扩张”。这让不少涉嫌垄断的行业巨头瑟瑟发抖，\n二手房市场上，贝壳的前身链家曾有涉嫌垄断被查处先例。\n贝壳前身链家发明了“独家房源委托”交易模式，并因此付出过代价。2016年，链家在北京、上海等一线城市被以涉嫌垄断查处。\n房产交易领域的反垄断行动正在加大力度。此前，由有关部门牵头召开的互联网平台企业行政指导会，与会的34家互联网企业中除了腾讯、百度等巨头，还有贝壳找房。\n7月以来，整治房地产交易乱象的力度持续加大。大家都在拭目以待。谁会成为出头鸟被敲打？\n在“房价越高，房屋的成交额越高，中介的提佣就越多”背景下，房产中介现有的经营行为、营销手段，已经成为房价上涨重要的助燃剂之一。一些中介机构参与到推动炒房热情高涨方面早就不是新鲜事了。\n近日通报的“深房理”事件中，44名中介为违规炒房提供便利被纳入“黑名单”。\n2021年以来，贝壳找房陆续在国内部分重点城市，包括上海、深圳、广州、成都、郑州、重庆等地上调中介费，从过去的2%涨至了3%，其中买家承担2%，卖家承担1%（过去是0%）。羊毛出在羊身上，二手房房价自然受到影响。\n提佣对于中介来说，虽然能够提升中介利润，但是也会有其他负面影响。2014年12月，天津市价格主管部门就我爱我家、链家地产和中原地产同时上调中介费的价格串谋行为合计处罚531万元。\n监管压力加大下，二手房市场业务也越来越难做。\n机构统计的最新数据显示，7月份全国10个主要城市二手房成交量下滑了30%，降幅远远高于新房。\n2018年4月贝壳上线；2020年8月13日贝壳在纳斯达克上市；2021年7月出炉的《财富》中国500强排行榜，贝壳排名第164位。\n无疑，过去的贝壳赶上了好时候，未来的贝壳要好好习惯潮涨潮落。徐佳莹曾经在歌曲《贝壳》长这么唱道：“我是一片贝壳，在海与沙之间进退不得，沙的心无法猜测，海依然无怨无悔地等着。”","news_type":1,"symbols_score_info":{"BEKE":0.9}},"isVote":1,"tweetType":1,"viewCount":880,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888841294,"gmtCreate":1631490422718,"gmtModify":1676530554376,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/888841294","repostId":"1130981584","repostType":4,"repost":{"id":"1130981584","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631488430,"share":"https://ttm.financial/m/news/1130981584?lang=en_US&edition=fundamental","pubTime":"2021-09-13 07:13","market":"hk","language":"zh","title":"Preview: Apple's new product launch conference is coming! The XPeng P5 goes on sale on Wednesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1130981584","media":"老虎资讯综合","summary":"事件方面：苹果公司将举办秋季发布会，华为将举办智慧办公新品发布会，小鹏汽车将举行小鹏 P5 超级发布会等；来港易将于周三正式推出；以及中秋节期间，港股通、沪深股通暂停交易。周一，华为将举行智慧办公新品发布会，届时会有多款重磅产品发布，还包括发布一款14寸的大屏手机。小鹏汽车官方宣布，小鹏P5将于9月15日上市。","content":"<p>Summary:</p><p>Events: Apple will hold an autumn conference, Huawei will hold a smart office new product launch conference, XPeng Motors will hold a XPeng P5 super launch conference, etc.; Easy to Hong Kong will be officially launched on Wednesday; And during the Mid-Autumn Festival, trading in Hong Kong Stock Connect and Shanghai-Shenzhen Stock Connect was suspended. Data: The United States will release August CPI, industrial output, retail sales and other data; China will release data on urban survey unemployment rate, real estate investment, social retail consumption and other data in August. Financial reports: Oracle Bone Inscriptions, JinkoSolar, etc. will announce financial reports. In terms of new shares: The US stock market will usher in multiple star IPOs.<b>Keywords on Monday: Huawei held a smart office new product launch conference, Oracle released its latest financial report</b></p><p><b>On Monday, Huawei will hold a smart office new product launch conference</b>, there will be a number of blockbuster products released, including the release of a 14-inch large-screen mobile phone.</p><p>In addition, Tesla's super factory near Berlin, Germany, has been blocked due to environmental issues, and has been complained to the Ministry of Environment of Brandenburg, Germany, by two major local environmental groups, Grüne Liga Brandenburg and NABU;<b>The Brandenburg Ministry of Environment will hold an online hearing on the construction of the Tesla Gigafactory on September 13</b>。</p><p><b>In terms of financial reports,<a href=\"https://laohu8.com/S/ORCL\">Oracle bone inscriptions</a>Will report earnings.</b>Wall Street analysts expect Oracle to post earnings of $0.97 per share on revenue of $9.78 billion. This compares to Oracle's earnings per share of $0.93 on revenue of $9.37 billion in the fourth quarter of last year.</p><p><b>Keywords on Tuesday: U.S. August CPI year-on-year, U.S. largest gambling data provider Sportradar U.S. stock IPO</b><img src=\"https://static.tigerbbs.com/db4ed9d6247431d0db34f87250bceea0\" tg-width=\"449\" tg-height=\"136\" referrerpolicy=\"no-referrer\"><b>In terms of economic data, the United States will release year-on-year CPI data for August.</b>The U.S. CPI rose 5.4% year-on-year in July, the same increase as in June. Whether the CPI in August can continue the moderate growth rate in July and achieve further slowdown, Nomura and UBS have successively released reports, agreeing that the inflation rate may continue to decline in August, but at the same time pointed out that there are certain inflation risks.</p><p>According to explanations from Nomura and UBS, lower prices of used cars, hotel accommodations and plane tickets will be the main reasons for the CPI slowdown in August. Due to the shortage of semiconductor chips and the shutdown of overseas factories in the early stage, there was a shortage of new car supply in the United States, and consumers turned to the used car market, further leading to stronger demand for used cars, thus pushing up their prices.</p><p><b>In terms of events,</b>Focus on SEC Chairman Gensler to testify before the Senate Banking Committee. Last month, Gensler sent a letter to Senator Warren asking for more powers to regulate digital asset transactions. At this hearing, he is expected to have a lot of discussions on financial technology and digital assets.</p><p>In terms of financial reports,<a href=\"https://laohu8.com/S/FCEL\">Fuel cell energy</a>Will report earnings.</p><p>For IPO,<a href=\"https://laohu8.com/S/SRAD\">Sportradar Group AG</a>Is an online betting platform from Switzerland whose mission is to increase sports fan engagement worldwide through its fully integrated technology and service platform. In terms of finance, the company's revenue in 2020 was US $470 million, a year-on-year increase of 6.4%; Net income was $17.32 million. The average annual growth rate is only about 10%, which is not a very bright figure. However, the company is already in a profitable state, but its market value is 6 billion, which is slightly overvalued.</p><p><b>Keywords on Wednesday: Lai Hong Kong Easy is officially launched, Apple's new product launch conference is coming</b><img src=\"https://static.tigerbbs.com/e06908ad4f84d40f0294c13e906e1578\" tg-width=\"539\" tg-height=\"212\" referrerpolicy=\"no-referrer\"></p><p>In terms of economic data, China will announce data on year-on-year changes in urban survey unemployment rate, real estate investment, and total social retail consumption in August.</p><p><b>In terms of events, the Easy-to-Hong Kong Scheme will be officially launched on September 15</b>, non-Hong Kong residents living in Mainland China, except for medium and high-risk areas, are exempted from the 14-day compulsory quarantine measures. Carrie Lam Cheng Yuet-ngor revealed that under the Easy-to-Hong Kong Scheme, a daily quota of 1,000 people will be introduced at Shenzhen Bay Port and Hong Kong-Zhuhai-Macao Bridge Port, that is, there are 2,000 people coming to Hong Kong from the mainland every day. It is expected to attract mainland tourists to shop and travel in Hong Kong, which will positively boost local stocks in Hong Kong, especially retail stocks.</p><p>Stocks involved:<a href=\"https://laohu8.com/S/00178\">Sa Sa International</a>、<a href=\"https://laohu8.com/S/00116\">Chow Sang Sang</a>、<a href=\"https://laohu8.com/S/00590\">Lukfook Group Limited</a>、<a href=\"https://laohu8.com/S/01212\">Lifestyle International</a>And other retail stocks,<a href=\"https://laohu8.com/S/01997\">Wharf Property</a>、<a href=\"https://laohu8.com/S/00004\">The Wharf Group Limited</a>、<a href=\"https://laohu8.com/S/00016\">SUN HUNG KAI</a>、<a href=\"https://laohu8.com/S/01972\">Swire Properties</a>And other real estate stocks.</p><p><b>Apple will broadcast the online special event live on the official website at 1 a.m. Beijing time on September 15th</b>。 As usual, this special event will release important products such as the new iPhone and Apple Watch. According to current supply chain revelations, this conference is expected to launch the iPhone 13 series, Apple Watch Series 7 and AirPods 3. The newly released iPhone 13 series still has four models, namely iPhone 13/mini and iPhone 13 Pro/Max, which are consistent with the previous generation in terms of product matrix.</p><p>Stocks involved:<a href=\"https://laohu8.com/S/02382\">Sunny Optical Technology</a>、<a href=\"https://laohu8.com/S/02018\">AAC Technology</a>、<a href=\"https://laohu8.com/S/01415\">Gaowei Electronics</a>、<a href=\"https://laohu8.com/S/00285\">BYD Electronics</a>Etc.</p><p><b>XPeng Motors officially announced that the XPeng P5 will be launched on September 15.</b>The P5 is XPeng's third production model after the G3 and P7.</p><p><b>The 3rd World New Energy Vehicle Conference (WNEVC) will be held at Hainan International Convention and Exhibition Center from September 15 to 17, 2021</b>。 The 3-day event includes 20 conference forums, technology exhibitions and multiple simultaneous activities. It is expected that more than 1,000 senior government, industry, academia and research officials in the global new energy vehicle field will gather in Hainan.</p><p>It is reported that the new energy vehicles and brands displayed on site include: Changan CS55 pure electric, Benben E-Star National Edition, and Eado EV460; Volkswagen ID. Family; BMW iX3, BMW iX; SAIC's first strategic products based on R-TECH, ES33, SAIC MG Cyberster, Nio ES6 and ES8, etc.</p><p>In addition, State Grid, CRRC Times Electric (03898. HK), Vitesco Technology, Telaidian (600089. SH), Jingjin Electric, etc. will display the latest batteries, charging and swapping, electric drives and other core components and technologies; A chip area will be set up in the exhibition area. Infineon, Texas Instruments TI, Black Sesame Intelligence, Core Energy, Suzhou Guoxin, and Basic Semiconductor will display the latest automotive-grade chip technologies and products.</p><p><b>In terms of financial reports,<a href=\"https://laohu8.com/S/JKS\">JinkoSolar</a>Earnings are scheduled to be released before the market open on Wednesday, September 15</b>。 Analysts expect the company to post $0.23 earnings per share for the quarter.</p><p>Jinko Solar last issued its earnings results on Thursday, June 24th. The semiconductor company at the time reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of-$0.02 by $0.17. The company's revenue for the quarter was US $1.21 billion, which was also higher than the previous market collective expectation of US $1.18 billion. JinkoSolar had a net margin of 0.43% and a return on equity of 2.98%. Quarterly revenue increased by 1.1% year-over-year. During the same period last year, the company earned $0.65 per share. Analysts, on average, expect JinkoSolar to earn $1 per share this fiscal year and $3 per share in the next.</p><p>JinkoSolar currently has a consensus rating of Hold and a price target of $34.75, according to MarketBeat.</p><p>It is worth mentioning that a hedge fund recently increased its holdings in JinkoSolar. According to Wells Fargo's latest Form 13F filed with the U.S. Securities and Exchange Commission (SEC), the bank increased its stake in JinkoSolar by 375.1% in the second quarter.</p><p>For IPO,<a href=\"https://laohu8.com/S/ONON\">On Holding AG</a>Is the owner of On Running, a manufacturer of performance shoes, founded in 2010. On was co-founded by triathlon world champion Olivier Bernhard and his two friends Caspar Coppetti and David Allemann. Investors in the On Running footwear brand also include tennis legend Roger Federer, who became a shareholder of the company in 2019 and participated in the design of a shoe named after him launched last year.</p><p>In terms of finance, On's revenue growth rate ranks among the best among sports companies. From its establishment in 2010 to 2020, its revenue has a compound annual growth rate of 85%. The company's revenue in 2020 was 425.3 million Swiss francs, a year-on-year increase of 59.2%, and its net loss was 27.5 million Swiss francs; As of 2021H1, revenue was CHF 315.5 million and net income was CHF 3.8 million.</p><p><b>KEYWORDS THURSDAY: US retail sales, initial claims</b><img src=\"https://static.tigerbbs.com/ad1ff496066f36e37b6c701459da0230\" tg-width=\"539\" tg-height=\"193\" referrerpolicy=\"no-referrer\">In terms of economic data, pay attention to changes in the number of people applying for unemployment benefits for the first time in the United States in the week of September 11.</p><p>In terms of financial events, due to the Mid-Autumn Festival holiday, trading in Hong Kong Stock Connect will be suspended from September 16 to 22.</p><p><b>KEYWORDS FRIDAY: U.S. September University of Michigan consumer confidence index, Alibaba annual shareholder meeting</b><img src=\"https://static.tigerbbs.com/2697f5f523c70cb8281e4ad4f426467f\" tg-width=\"539\" tg-height=\"155\" referrerpolicy=\"no-referrer\">As for economic data,<b>Pay attention to the University of Michigan Consumer Confidence Index in September,</b>Market expectations were 72, compared with the previous value of 70.3.</p><p>In terms of incidents, at 7 p.m. Beijing time,<b>Alibaba held its annual general meeting of shareholders.</b></p><p>In addition, the U.S. Food and Drug Administration (FDA) Advisory Committee on Vaccines and Related Biologics will meet on September 17, 2021, to discuss the issue of vaccination with additional COVID-19 vaccine booster shots. The meeting will be held from 8:30 a.m. to 3:45 p.m. ET. In early September, Moderna also submitted an application for the COVID-19 vaccine booster shot to the FDA, slightly behind rival Pfizer. In addition, in the United States, the FDA has approved additional COVID-19 vaccine booster shots for people with weakened immune systems. Stocks involved:<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>、<a href=\"https://laohu8.com/S/BNTX\">BioNTech</a>、<a href=\"https://laohu8.com/S/MRNA\">Moderna</a>、<a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Preview: Apple's new product launch conference is coming! The XPeng P5 goes on sale on Wednesday</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\">\nPreview: Apple's new product launch conference is coming! The XPeng P5 goes on sale on Wednesday\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-09-13 07:13</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Summary:</p><p>Events: Apple will hold an autumn conference, Huawei will hold a smart office new product launch conference, XPeng Motors will hold a XPeng P5 super launch conference, etc.; Easy to Hong Kong will be officially launched on Wednesday; And during the Mid-Autumn Festival, trading in Hong Kong Stock Connect and Shanghai-Shenzhen Stock Connect was suspended. Data: The United States will release August CPI, industrial output, retail sales and other data; China will release data on urban survey unemployment rate, real estate investment, social retail consumption and other data in August. Financial reports: Oracle Bone Inscriptions, JinkoSolar, etc. will announce financial reports. In terms of new shares: The US stock market will usher in multiple star IPOs.<b>Keywords on Monday: Huawei held a smart office new product launch conference, Oracle released its latest financial report</b></p><p><b>On Monday, Huawei will hold a smart office new product launch conference</b>, there will be a number of blockbuster products released, including the release of a 14-inch large-screen mobile phone.</p><p>In addition, Tesla's super factory near Berlin, Germany, has been blocked due to environmental issues, and has been complained to the Ministry of Environment of Brandenburg, Germany, by two major local environmental groups, Grüne Liga Brandenburg and NABU;<b>The Brandenburg Ministry of Environment will hold an online hearing on the construction of the Tesla Gigafactory on September 13</b>。</p><p><b>In terms of financial reports,<a href=\"https://laohu8.com/S/ORCL\">Oracle bone inscriptions</a>Will report earnings.</b>Wall Street analysts expect Oracle to post earnings of $0.97 per share on revenue of $9.78 billion. This compares to Oracle's earnings per share of $0.93 on revenue of $9.37 billion in the fourth quarter of last year.</p><p><b>Keywords on Tuesday: U.S. August CPI year-on-year, U.S. largest gambling data provider Sportradar U.S. stock IPO</b><img src=\"https://static.tigerbbs.com/db4ed9d6247431d0db34f87250bceea0\" tg-width=\"449\" tg-height=\"136\" referrerpolicy=\"no-referrer\"><b>In terms of economic data, the United States will release year-on-year CPI data for August.</b>The U.S. CPI rose 5.4% year-on-year in July, the same increase as in June. Whether the CPI in August can continue the moderate growth rate in July and achieve further slowdown, Nomura and UBS have successively released reports, agreeing that the inflation rate may continue to decline in August, but at the same time pointed out that there are certain inflation risks.</p><p>According to explanations from Nomura and UBS, lower prices of used cars, hotel accommodations and plane tickets will be the main reasons for the CPI slowdown in August. Due to the shortage of semiconductor chips and the shutdown of overseas factories in the early stage, there was a shortage of new car supply in the United States, and consumers turned to the used car market, further leading to stronger demand for used cars, thus pushing up their prices.</p><p><b>In terms of events,</b>Focus on SEC Chairman Gensler to testify before the Senate Banking Committee. Last month, Gensler sent a letter to Senator Warren asking for more powers to regulate digital asset transactions. At this hearing, he is expected to have a lot of discussions on financial technology and digital assets.</p><p>In terms of financial reports,<a href=\"https://laohu8.com/S/FCEL\">Fuel cell energy</a>Will report earnings.</p><p>For IPO,<a href=\"https://laohu8.com/S/SRAD\">Sportradar Group AG</a>Is an online betting platform from Switzerland whose mission is to increase sports fan engagement worldwide through its fully integrated technology and service platform. In terms of finance, the company's revenue in 2020 was US $470 million, a year-on-year increase of 6.4%; Net income was $17.32 million. The average annual growth rate is only about 10%, which is not a very bright figure. However, the company is already in a profitable state, but its market value is 6 billion, which is slightly overvalued.</p><p><b>Keywords on Wednesday: Lai Hong Kong Easy is officially launched, Apple's new product launch conference is coming</b><img src=\"https://static.tigerbbs.com/e06908ad4f84d40f0294c13e906e1578\" tg-width=\"539\" tg-height=\"212\" referrerpolicy=\"no-referrer\"></p><p>In terms of economic data, China will announce data on year-on-year changes in urban survey unemployment rate, real estate investment, and total social retail consumption in August.</p><p><b>In terms of events, the Easy-to-Hong Kong Scheme will be officially launched on September 15</b>, non-Hong Kong residents living in Mainland China, except for medium and high-risk areas, are exempted from the 14-day compulsory quarantine measures. Carrie Lam Cheng Yuet-ngor revealed that under the Easy-to-Hong Kong Scheme, a daily quota of 1,000 people will be introduced at Shenzhen Bay Port and Hong Kong-Zhuhai-Macao Bridge Port, that is, there are 2,000 people coming to Hong Kong from the mainland every day. It is expected to attract mainland tourists to shop and travel in Hong Kong, which will positively boost local stocks in Hong Kong, especially retail stocks.</p><p>Stocks involved:<a href=\"https://laohu8.com/S/00178\">Sa Sa International</a>、<a href=\"https://laohu8.com/S/00116\">Chow Sang Sang</a>、<a href=\"https://laohu8.com/S/00590\">Lukfook Group Limited</a>、<a href=\"https://laohu8.com/S/01212\">Lifestyle International</a>And other retail stocks,<a href=\"https://laohu8.com/S/01997\">Wharf Property</a>、<a href=\"https://laohu8.com/S/00004\">The Wharf Group Limited</a>、<a href=\"https://laohu8.com/S/00016\">SUN HUNG KAI</a>、<a href=\"https://laohu8.com/S/01972\">Swire Properties</a>And other real estate stocks.</p><p><b>Apple will broadcast the online special event live on the official website at 1 a.m. Beijing time on September 15th</b>。 As usual, this special event will release important products such as the new iPhone and Apple Watch. According to current supply chain revelations, this conference is expected to launch the iPhone 13 series, Apple Watch Series 7 and AirPods 3. The newly released iPhone 13 series still has four models, namely iPhone 13/mini and iPhone 13 Pro/Max, which are consistent with the previous generation in terms of product matrix.</p><p>Stocks involved:<a href=\"https://laohu8.com/S/02382\">Sunny Optical Technology</a>、<a href=\"https://laohu8.com/S/02018\">AAC Technology</a>、<a href=\"https://laohu8.com/S/01415\">Gaowei Electronics</a>、<a href=\"https://laohu8.com/S/00285\">BYD Electronics</a>Etc.</p><p><b>XPeng Motors officially announced that the XPeng P5 will be launched on September 15.</b>The P5 is XPeng's third production model after the G3 and P7.</p><p><b>The 3rd World New Energy Vehicle Conference (WNEVC) will be held at Hainan International Convention and Exhibition Center from September 15 to 17, 2021</b>。 The 3-day event includes 20 conference forums, technology exhibitions and multiple simultaneous activities. It is expected that more than 1,000 senior government, industry, academia and research officials in the global new energy vehicle field will gather in Hainan.</p><p>It is reported that the new energy vehicles and brands displayed on site include: Changan CS55 pure electric, Benben E-Star National Edition, and Eado EV460; Volkswagen ID. Family; BMW iX3, BMW iX; SAIC's first strategic products based on R-TECH, ES33, SAIC MG Cyberster, Nio ES6 and ES8, etc.</p><p>In addition, State Grid, CRRC Times Electric (03898. HK), Vitesco Technology, Telaidian (600089. SH), Jingjin Electric, etc. will display the latest batteries, charging and swapping, electric drives and other core components and technologies; A chip area will be set up in the exhibition area. Infineon, Texas Instruments TI, Black Sesame Intelligence, Core Energy, Suzhou Guoxin, and Basic Semiconductor will display the latest automotive-grade chip technologies and products.</p><p><b>In terms of financial reports,<a href=\"https://laohu8.com/S/JKS\">JinkoSolar</a>Earnings are scheduled to be released before the market open on Wednesday, September 15</b>。 Analysts expect the company to post $0.23 earnings per share for the quarter.</p><p>Jinko Solar last issued its earnings results on Thursday, June 24th. The semiconductor company at the time reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of-$0.02 by $0.17. The company's revenue for the quarter was US $1.21 billion, which was also higher than the previous market collective expectation of US $1.18 billion. JinkoSolar had a net margin of 0.43% and a return on equity of 2.98%. Quarterly revenue increased by 1.1% year-over-year. During the same period last year, the company earned $0.65 per share. Analysts, on average, expect JinkoSolar to earn $1 per share this fiscal year and $3 per share in the next.</p><p>JinkoSolar currently has a consensus rating of Hold and a price target of $34.75, according to MarketBeat.</p><p>It is worth mentioning that a hedge fund recently increased its holdings in JinkoSolar. According to Wells Fargo's latest Form 13F filed with the U.S. Securities and Exchange Commission (SEC), the bank increased its stake in JinkoSolar by 375.1% in the second quarter.</p><p>For IPO,<a href=\"https://laohu8.com/S/ONON\">On Holding AG</a>Is the owner of On Running, a manufacturer of performance shoes, founded in 2010. On was co-founded by triathlon world champion Olivier Bernhard and his two friends Caspar Coppetti and David Allemann. Investors in the On Running footwear brand also include tennis legend Roger Federer, who became a shareholder of the company in 2019 and participated in the design of a shoe named after him launched last year.</p><p>In terms of finance, On's revenue growth rate ranks among the best among sports companies. From its establishment in 2010 to 2020, its revenue has a compound annual growth rate of 85%. The company's revenue in 2020 was 425.3 million Swiss francs, a year-on-year increase of 59.2%, and its net loss was 27.5 million Swiss francs; As of 2021H1, revenue was CHF 315.5 million and net income was CHF 3.8 million.</p><p><b>KEYWORDS THURSDAY: US retail sales, initial claims</b><img src=\"https://static.tigerbbs.com/ad1ff496066f36e37b6c701459da0230\" tg-width=\"539\" tg-height=\"193\" referrerpolicy=\"no-referrer\">In terms of economic data, pay attention to changes in the number of people applying for unemployment benefits for the first time in the United States in the week of September 11.</p><p>In terms of financial events, due to the Mid-Autumn Festival holiday, trading in Hong Kong Stock Connect will be suspended from September 16 to 22.</p><p><b>KEYWORDS FRIDAY: U.S. September University of Michigan consumer confidence index, Alibaba annual shareholder meeting</b><img src=\"https://static.tigerbbs.com/2697f5f523c70cb8281e4ad4f426467f\" tg-width=\"539\" tg-height=\"155\" referrerpolicy=\"no-referrer\">As for economic data,<b>Pay attention to the University of Michigan Consumer Confidence Index in September,</b>Market expectations were 72, compared with the previous value of 70.3.</p><p>In terms of incidents, at 7 p.m. Beijing time,<b>Alibaba held its annual general meeting of shareholders.</b></p><p>In addition, the U.S. Food and Drug Administration (FDA) Advisory Committee on Vaccines and Related Biologics will meet on September 17, 2021, to discuss the issue of vaccination with additional COVID-19 vaccine booster shots. The meeting will be held from 8:30 a.m. to 3:45 p.m. ET. In early September, Moderna also submitted an application for the COVID-19 vaccine booster shot to the FDA, slightly behind rival Pfizer. In addition, in the United States, the FDA has approved additional COVID-19 vaccine booster shots for people with weakened immune systems. Stocks involved:<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>、<a href=\"https://laohu8.com/S/BNTX\">BioNTech</a>、<a href=\"https://laohu8.com/S/MRNA\">Moderna</a>、<a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>。</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3c6a9864ff5cea57b22ba422497681e0","relate_stocks":{".IXIC":"NASDAQ Composite","HSI":"恒生指数",".DJI":"道琼斯",".SPX":"S&P 500 Index","HSTECH":"恒生科技指数","HSCEI":"国企指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130981584","content_text":"摘要：\n\n 事件方面：苹果公司将举办秋季发布会，华为将举办智慧办公新品发布会，小鹏汽车将举行小鹏 P5 超级发布会等；来港易将于周三正式推出；以及中秋节期间，港股通、沪深股通暂停交易。\n\n\n 数据方面：美国将公布8月CPI、工业产出、零售销售等数据；中国将公布8月城镇调查失业率、房地产投资、社零消费等数据。\n\n\n 财报方面：甲骨文、晶科能源等将公布财报。\n\n\n 新股方面：美股市场将迎来多只明星IPO。\n\n周一关键词：华为举行智慧办公新品发布会、甲骨文发布最新财报\n周一，华为将举行智慧办公新品发布会，届时会有多款重磅产品发布，还包括发布一款14寸的大屏手机。\n此外，特斯拉在德国柏林附近的超级工厂因环境问题一直受阻，被当地的两大环境团体Grüne Liga Brandenburg和NABU投诉至德国勃兰登堡环境部；勃兰登堡环境部将在9月13日就特斯拉超级工厂建厂问题召开线上听证会。\n财报方面，甲骨文将公布财报。华尔街分析师预计，甲骨文每股收益为0.97美元，营收为97.8亿美元。相比之下，去年第四季度甲骨文的每股收益为0.93美元，营收为93.7亿美元。\n周二关键词：美国8月CPI同比、美国最大博彩数据提供商Sportradar美股IPO经济数据方面，美国将公布8月CPI同比数据。7月份美国CPI同比上升5.4%，升幅与6月持平。8月CPI能否延续7月份的温和增速，实现进一步放缓，野村和瑞银两家机构相继发布报告，一致认为8月通胀速度可能会继续下降，但是同时也指出存在一定的通胀风险。\n根据野村和瑞银的解释，二手车、酒店住宿和飞机票价格走低将是8月份CPI放缓的主要原因。由于前期半导体芯片短缺和海外工厂停工，美国本土新车供应出现短缺，消费者就转向了二手车市场，进一步导致二手车的需求走强，从而推高其价格。\n事件方面，关注美国证交会主席根斯勒将在参议院银行委员会作证。上个月，根斯勒曾致信参议员沃伦，要求获得更多权力来监管数字资产交易。此次听证会，预计他将会对金融科技、数字资产进行大量讨论。\n财报方面，燃料电池能源将公布财报。\nIPO方面，Sportradar Group AG是一家来自瑞士的线上博彩平台，其使命是通过其完全集成的技术和服务平台在全球范围内提高体育迷的参与度。财务方面，该公司2020年营收4.7亿美元，同比增6.4%；净利润1732万美元。每年平均增速只有大约10%，算不上非常亮眼的数字。但公司已处于盈利状态，不过市值60亿，又略显高估。\n周三关键词：来港易正式推出、苹果新品发布会来袭\n经济数据方面，中国将公布8月城镇调查失业率、房地产投资、社零消费总额同比变化等数据。\n事件方面，来港易计划将于9月15日正式推出，在中国内地居住，除中高风险区的非香港居民抵港均可豁免14天强制检疫隔离措施。林郑月娥透露，在来港易计划下，每日将于深圳湾口岸及港珠澳大桥口岸各推出1000人的配额，即每日内地来港配额人员有2000人。预计将吸引大陆游客到香港购物、旅游，对香港本地股尤其是零售股是积极提振。\n涉及个股：莎莎国际、周生生、六福集团、利福国际等零售股，九龙仓置业、九龙仓集团、新鸿基地产、太古地产等地产股。\n苹果将于北京时间9月15日凌晨1点在官网直播在线特别活动。按照惯例，该场特别活动将发布新款iPhone手机和Apple Watch等重要产品。根据目前的供应链爆料信息，本次发布会预计会推出iPhone13系列，Apple Watch Series7以及AirPods 3。而新发布的iPhone 13系列依旧拥有四款机型，分别为iPhone 13/mini、iPhone 13 Pro/Max，在产品矩阵上与上一代保持一致。\n涉及个股：舜宇光学科技、瑞声科技、高伟电子、比亚迪电子等。\n小鹏汽车官方宣布，小鹏P5将于9月15日上市。P5是小鹏G3、P7之后的第三款量产车型。\n第三届世界新能源汽车大会（WNEVC）将于2021年9月15-17日在海南国际会展中心召开。3天的活动包含20场会议论坛、技术展览及多场同期活动，预计将有1000多名全球新能源汽车领域政产学研高层云集海南。\n据悉，现场展示的新能源车辆以及品牌包括：长安CS55纯电动、奔奔E-Star国民版、逸动EV460；大众ID.家族；宝马iX3、宝马iX；上汽首款基于R-TECH打造的战略产品ES33、上汽名爵MG Cyberster、蔚来ES6和ES8等。\n此外，国家电网、中车时代电气(03898.HK)、纬湃科技、特来电(600089.SH)、精进电动等将展示最新的电池、充换电、电驱动和其他核心零部件及技术；展区设立芯片专区，英飞凌、德州仪器TI、黑芝麻智能、芯力能、苏州国芯、基本半导体将展示最新车规级芯片技术和产品。\n财报方面，晶科能源计划在9月15日周三开盘前发布财报。分析师预计该公司本季度每股收益为0.23美元。\n晶科太阳能最近一次发布财报是在6月24日周四。这家半导体公司当时公布的本季度每股收益为0.15美元，比分析师的普遍预期(-0.02美元)高出0.17美元。该公司当季营收为12.1亿美元，同样高出此前市场集体预期11.8亿美元。晶科能源的净利润率为0.43%，净资产收益率为2.98%。季度收入同比增长了1.1%。去年同期，该公司每股盈利0.65美元。分析师平均预计晶科能源本财年每股收益为1美元，下一财年每股收益则为3美元。\n根据MarketBeat的数据，晶科能源目前的共识评级为持有，目标价为34.75美元。\n值得一提的是，一家对冲基金最近增持了晶科能源的股票。根据富国银行向美国证券交易委员会(SEC)提交的最新13F表格，该行在第二季度大手增持晶科能源的股份375.1%。\nIPO方面，On Holding AG是高性能鞋制造商On Running的所有者，成立于 2010 年。On昂跑由铁人三项世界冠军Olivier Bernhard及其两位好友Caspar Coppetti、David Allemann一同创办。On Running鞋类品牌的投资者也中包括网球传奇人物罗杰-费德勒，费德勒在2019年成为公司股东，并参与设计去年推出的一款以他命名的鞋子。\n财务方面，On昂跑营收规模增速在体育运动公司中名列前茅，从2010年成立到2020 年，其营收复合年增长率为85%。公司2020 年营收为 4.253 亿瑞士法郎，同比增长 59.2%，净亏损为 2750 万瑞士法郎；截至 2021H1，营收为 3.155 亿瑞士法郎，净收入为380 万瑞士法郎。\n周四关键词：美国零售销售、初请经济数据方面，关注美国9月11日当周首次申请失业救济人数变动。\n财经事件方面，因中秋节假期，9月16-22日港股通将暂停交易。\n周五关键词：美国9月密歇根大学消费者信心指数、阿里巴巴年度股东大会经济数据方面，关注美国9月密歇根大学消费者信心指数，市场预期为72，前值为70.3。\n事件方面，北京时间晚7点，阿里巴巴召开年度股东大会。\n此外，美国食品药品监督管理局（FDA）疫苗和相关生物制品咨询委员会将于2021年9月17日召开会议，讨论关于额外注射新冠疫苗加强针的接种问题。会议将于美东时间上午8:30至下午3:45举行。九月初，Moderna也向FDA提交了新冠疫苗加强针的申请，略微落后于竞争对手辉瑞。此外，在美国，FDA已批准向免疫系统薄弱人士额外注射新冠疫苗加强针。涉及个股：辉瑞、BioNTech、Moderna、强生。","news_type":1,"symbols_score_info":{"HSTECH":0.9,"HSI":0.9,".DJI":0.9,".SPX":0.9,".IXIC":0.9,"HSCEI":0.9}},"isVote":1,"tweetType":1,"viewCount":618,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816525273,"gmtCreate":1630508371492,"gmtModify":1676530325718,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"555","listText":"555","text":"555","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/816525273","repostId":"2164867980","repostType":4,"isVote":1,"tweetType":1,"viewCount":525,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9082813878,"gmtCreate":1650549302194,"gmtModify":1676534749309,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"ok<a href=\"https://ttm.financial/S/S58.SI\">$新翔集团有限公司(S58.SI)$</a>","listText":"ok<a href=\"https://ttm.financial/S/S58.SI\">$新翔集团有限公司(S58.SI)$</a>","text":"ok$新翔集团有限公司(S58.SI)$","images":[{"img":"https://community-static.tradeup.com/news/71c18547908dd191fa821a15d8946ff0","width":"1080","height":"2141"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9082813878","isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":887762146,"gmtCreate":1632100615285,"gmtModify":1676530700299,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/887762146","repostId":"2168705503","repostType":4,"repost":{"id":"2168705503","kind":"highlight","pubTimestamp":1632099070,"share":"https://ttm.financial/m/news/2168705503?lang=en_US&edition=fundamental","pubTime":"2021-09-20 08:51","market":"hk","language":"zh","title":"Call an emergency meeting! Britain's \"gas shortage\" is not easy","url":"https://stock-news.laohu8.com/highlight/detail?id=2168705503","media":"华尔街见闻","summary":"飙涨的天然气价格，让英国的天然气行业苦不堪言，而且他们的难题才刚刚开始。","content":"<p>With gas prices skyrocketing in Europe, the British are experiencing a gas supply crisis.</p><p>On Saturday, British Business Secretary Kwasi Kwarteng held an emergency meeting with a number of energy suppliers to discuss how to help suppliers cope with the difficulties caused by record natural gas prices and ensure stable gas supply in the UK this winter.</p><p>Under the current circumstances, in the next 7 to 10 days, at least 4 suppliers in the UK may withdraw from the market for financial reasons. The cost of natural gas is \"changing with each passing day\", but the selling price is limited, which makes suppliers miserable.</p><p>In the UK, because energy-related taxes and fees are relatively fixed, household users are protected by price at first. But as prices in the wholesale energy market have risen sharply, the UK's energy regulator has already announced a 12% increase in the energy price cap in August.</p><p>But this increase in terminal prices obviously cannot keep up with soaring costs. On Tuesday, UK gas prices rose 7pc to more than £ 1. 65 per sam, three times the price level at the beginning of the year and up 70pc since early August alone. As a key energy source for power generation, the soaring price of natural gas has also set a record for the highest electricity price.</p><p>As of this Friday, the price of British natural gas futures was at 165.25 p/kcal, four times the level at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/5983b395b95814179cc4a30a7e869e8b\" tg-width=\"1214\" tg-height=\"609\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Energy consultancy Baringa had previously predicted that the UK could be left with \"fewer than 10 gas suppliers\" by this winter. According to Ofgem data, as of the end of March this year, there were 49 suppliers in the UK.</p><p>Ofgem, the UK's office for gas and electricity markets, said that while record wholesale gas prices are putting pressure on energy suppliers, existing mechanisms are still able to solve the current dilemma. For example, a larger supplier can take over the customers of the exiting supplier.</p><p>However, the market is worried that if the price increase continues, even large suppliers may be overwhelmed, and the government may come forward to rescue and support the bottom.</p><p><h2>Europe's \"gas crisis\"</h2>Wall Street has previously introduced that this round of European \"natural gas crisis\" is mainly affected by both supply and demand.</p><p>On the demand side, the global economic restart after the epidemic has pushed up demand for natural gas. As countries implement greener energy policies, less polluting natural gas has become the first choice to replace coal, which has led Europe to compete with Asia for liquefied natural gas (LNG) imports.</p><p>On the supply side, last year's particularly cold winter meant Europe consumed more gas reserves than usual, and reserves were not replenished in time this summer. Natural gas production in different parts of the world has also been disrupted and interrupted; And flows of Russian natural gas into Europe are declining, making an already tight market even tighter.</p><p>As an important supplier of natural gas in Europe, natural gas production in the United States is currently plagued by hurricanes, and natural gas futures prices have been at their highest level in more than seven years. The U.S. Bureau of Safety and Environmental Enforcement said Monday that after Hurricane Ida,<b>An estimated 43.6% of oil production capacity and 51.6% of natural gas production capacity in the Gulf of Mexico region remain closed.</b></p><p>While the blow caused by Hurricane Ida to oil and gas production in the Gulf of Mexico has not yet recovered, tropical storm Nicholas has formed in the southern Gulf of Mexico, which may once again disrupt natural gas production in the region.</p><p><b>Insufficient power generation from renewable energy sources such as wind energy has also indirectly pushed up European natural gas prices.</b></p><p><h2><b>May continue to rise in the future</b></h2>But Britain's nightmare is far from over, as natural gas prices may continue to rise in the future.</p><p>European gas prices are likely to remain higher in the coming weeks as the European heating season begins, IEA executive director Fatih Birol told Bloomberg on Friday.</p><p>Birol also pointed to strong demand as a driving factor driving higher natural gas prices; At the same time, supplies from Russia have dwindled, and Russia has failed to replenish European gas stocks in time for the heating season.</p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>In the latest research report, it is also predicted that the tight supply and demand of natural gas in Europe is expected to further intensify in the next few months, and the entire Europe will face the risk of power outages.</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Call an emergency meeting! Britain's \"gas shortage\" is not easy</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\">\nCall an emergency meeting! Britain's \"gas shortage\" is not easy\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-09-20 08:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>With gas prices skyrocketing in Europe, the British are experiencing a gas supply crisis.</p><p>On Saturday, British Business Secretary Kwasi Kwarteng held an emergency meeting with a number of energy suppliers to discuss how to help suppliers cope with the difficulties caused by record natural gas prices and ensure stable gas supply in the UK this winter.</p><p>Under the current circumstances, in the next 7 to 10 days, at least 4 suppliers in the UK may withdraw from the market for financial reasons. The cost of natural gas is \"changing with each passing day\", but the selling price is limited, which makes suppliers miserable.</p><p>In the UK, because energy-related taxes and fees are relatively fixed, household users are protected by price at first. But as prices in the wholesale energy market have risen sharply, the UK's energy regulator has already announced a 12% increase in the energy price cap in August.</p><p>But this increase in terminal prices obviously cannot keep up with soaring costs. On Tuesday, UK gas prices rose 7pc to more than £ 1. 65 per sam, three times the price level at the beginning of the year and up 70pc since early August alone. As a key energy source for power generation, the soaring price of natural gas has also set a record for the highest electricity price.</p><p>As of this Friday, the price of British natural gas futures was at 165.25 p/kcal, four times the level at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/5983b395b95814179cc4a30a7e869e8b\" tg-width=\"1214\" tg-height=\"609\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Energy consultancy Baringa had previously predicted that the UK could be left with \"fewer than 10 gas suppliers\" by this winter. According to Ofgem data, as of the end of March this year, there were 49 suppliers in the UK.</p><p>Ofgem, the UK's office for gas and electricity markets, said that while record wholesale gas prices are putting pressure on energy suppliers, existing mechanisms are still able to solve the current dilemma. For example, a larger supplier can take over the customers of the exiting supplier.</p><p>However, the market is worried that if the price increase continues, even large suppliers may be overwhelmed, and the government may come forward to rescue and support the bottom.</p><p><h2>Europe's \"gas crisis\"</h2>Wall Street has previously introduced that this round of European \"natural gas crisis\" is mainly affected by both supply and demand.</p><p>On the demand side, the global economic restart after the epidemic has pushed up demand for natural gas. As countries implement greener energy policies, less polluting natural gas has become the first choice to replace coal, which has led Europe to compete with Asia for liquefied natural gas (LNG) imports.</p><p>On the supply side, last year's particularly cold winter meant Europe consumed more gas reserves than usual, and reserves were not replenished in time this summer. Natural gas production in different parts of the world has also been disrupted and interrupted; And flows of Russian natural gas into Europe are declining, making an already tight market even tighter.</p><p>As an important supplier of natural gas in Europe, natural gas production in the United States is currently plagued by hurricanes, and natural gas futures prices have been at their highest level in more than seven years. The U.S. Bureau of Safety and Environmental Enforcement said Monday that after Hurricane Ida,<b>An estimated 43.6% of oil production capacity and 51.6% of natural gas production capacity in the Gulf of Mexico region remain closed.</b></p><p>While the blow caused by Hurricane Ida to oil and gas production in the Gulf of Mexico has not yet recovered, tropical storm Nicholas has formed in the southern Gulf of Mexico, which may once again disrupt natural gas production in the region.</p><p><b>Insufficient power generation from renewable energy sources such as wind energy has also indirectly pushed up European natural gas prices.</b></p><p><h2><b>May continue to rise in the future</b></h2>But Britain's nightmare is far from over, as natural gas prices may continue to rise in the future.</p><p>European gas prices are likely to remain higher in the coming weeks as the European heating season begins, IEA executive director Fatih Birol told Bloomberg on Friday.</p><p>Birol also pointed to strong demand as a driving factor driving higher natural gas prices; At the same time, supplies from Russia have dwindled, and Russia has failed to replenish European gas stocks in time for the heating season.</p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>In the latest research report, it is also predicted that the tight supply and demand of natural gas in Europe is expected to further intensify in the next few months, and the entire Europe will face the risk of power outages.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3640760\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f01e4b782ba393cb7794f7764a5d7d90","relate_stocks":{"DGAZ":"三倍做空天然气ETN(VelocityShares)","UNG":"美国天然气基金","UGAZ":"三倍做多天然气ETN(VelocityShares)"},"source_url":"https://wallstreetcn.com/articles/3640760","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2168705503","content_text":"随着欧洲天然气价格暴涨，英国人正遇到天然气供应危机。\n本周六，英国商务大臣Kwasi Kwarteng与多家能源供应商召开紧急会议，商讨如何帮助供应商应对创纪录的天然气价格带来的困境，确保英国今冬能稳定供气。\n目前情况下，未来7到10天，英国可能将至少有4家供应商因为财务原因退出市场。天然气成本“日新月异”，但售价却受到限制，让供应商们苦不堪言，\n在英国，由于能源相关的税费相对固定，家庭用户一开始是受价格保护的。但随着能源批发市场价格大幅上升，英国能源监管机构已在8月份宣布将能源价格上限提高了12%。\n但这点终端价格涨幅显然跟不上飙升的成本。周二，英国天然气价格上涨7%，超过1.65英镑每撒姆，是年初价格水平的三倍，仅8月初以来就上涨了70%。天然气作为发电的关键能源，价格飞涨也创造了电价最高纪录。\n截至本周五，英国天然气期货价格报165.25便士/千卡，是年初水平的4倍。\n\n能源咨询公司Baringa此前预计，到了今年冬天，英国可能会只剩下“不到10个天然气供应商”。而根据Ofgem的数据，截至今年3月底，英国一共有49个供应商。\n英国天然气电力市场办公室Ofgem表示，虽然创纪录的天然气批发价格让能源供应商压力很大，但现有的机制仍然能够解决当前的困境。比如可以让更大型的供应商来接手退出的供应商的客户。\n不过市场担心，如果价格上涨持续，即便是大供应商，可能也会不堪重负，届时可能会由政府出面救助并托底。\n欧洲“天然气危机”\n华尔街见闻此前曾介绍过，本轮欧洲“天然气危机”主要是受供需两端同时影响。\n在需求端，疫情后经济重启全球推高了对天然气的需求，随着各国执行更环保的能源政策，污染更少的天然气成为替代煤炭的首选，这导致欧洲正在与亚洲争夺液化天然气（LNG）进口量。\n在供应端，去年特别寒冷冬天意味着欧洲比平时消耗了更多的天然气储备，而这个夏天储备没有得到及时补充。全球不同地区的天然气生产还遭到干扰与中断；而流入欧洲的俄罗斯天然气流量在下降，使本已吃紧的市场更加紧张。\n作为欧洲天然气重要供给地，美国天然气生产目前深受飓风困扰，天然气期货价格已处于7年多最高水平。美国安全与环境执法局周一表示，在飓风“艾达”过后，估计墨西哥湾地区43.6%的石油产能和51.6%的天然气产能仍处于关闭状态。\n飓风“艾达”给墨西哥湾油气生产造成的打击还未恢复之际，热带风暴“尼古拉斯”已在墨西哥湾南部形成，可能会再次扰乱该地区天然气生产。\n而风能等可再生能源发电不足也间接推高了欧洲天然气价格。\n未来可能继续上涨\n不过英国的噩梦还远未结束，因为未来天然气价格可能继续上涨。\n国际能源署执行主任Fatih Birol周五在接受彭博采访时表示，随着欧洲供暖季节的开始，欧洲天然气价格在未来几周可能会持续走高。\nBirol还指出，强劲的需求是推动天然气价格上涨的一个驱动因素；与此同时，来自俄罗斯的供应减少，俄罗斯未能在供暖季节到来之前及时补充欧洲的天然气库存。\n高盛在最新研报中也预计，未来几个月欧洲天然气供需紧张有望进一步加剧，整个欧洲将面临停电的风险。","news_type":1,"symbols_score_info":{"NGmain":0.9,"UNG":0.9,"DGAZ":0.9,"UGAZ":0.9,"QGmain":0.9}},"isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885528681,"gmtCreate":1631804402343,"gmtModify":1676530641397,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/885528681","repostId":"1188077028","repostType":4,"repost":{"id":"1188077028","kind":"news","weMediaInfo":{"introduction":"凤凰网港股官方账号，专注让专业更简单","home_visible":1,"media_name":"凤凰网港股","id":"56","head_image":"https://community-static.tradeup.com/news/63f98f2e899d607a12011e4ecf9c0ac7"},"pubTimestamp":1631803045,"share":"https://ttm.financial/m/news/1188077028?lang=en_US&edition=fundamental","pubTime":"2021-09-16 22:37","market":"us","language":"zh","title":"What are the certainty opportunities in the next 5 to 10 years? Wu Xiaobo Qin Shuo said this","url":"https://stock-news.laohu8.com/highlight/detail?id=1188077028","media":"凤凰网港股","summary":"9月12日，2021凤凰网财经峰会暨天籁思享荟杭州站成功召开，著名财经作家吴晓波、财经媒体人秦朔出席活动并发言。嘉宾们聚焦于杭州区域经济与财富热点，就资本市场、房价趋势、行业投资机会等相关创富话题，带","content":"<p>On September 12th, 2021 Phoenix Net Financial Summit and Tianlai Sixianghui Hangzhou Station were successfully held. Wu Xiaobo, a famous financial writer, and Qin Shuo, a financial media person, attended the event and delivered speeches. The guests focused on Hangzhou's regional economic and wealth hotspots, and shared high-value wealth knowledge on capital market, housing price trends, industry investment opportunities and other related wealth creation topics.</p><p><b>Wu Xiaobo: The intelligent revolution is China's most enthusiastic testing ground</b></p><p><img src=\"https://static.tigerbbs.com/6f59c35ff2a24d05b5a15487dcee7fe1\" tg-width=\"552\" tg-height=\"368\" referrerpolicy=\"no-referrer\"></p><p>Wu Xiaobo, who was born in journalism department, has been an industrial journalist in depth studying China's industrial economy for 30 years since 1990, and has written Chinese business works such as \"Thirty Years of Agitation\". He always believes that the development of a country and an economy depends mainly on one thing, that is, economic cells.</p><p>After inspecting as many as 38 companies in the first eight months of this year, Wu Xiaobo brought \"New Trends in Industrial Transformation, New Opportunities for Track Investment\" to Teana car owners in Hangzhou in this event through the changes in China's economic cells seen and summarized in the companies.</p><p>Wu Xiaobo believes that, first of all,<b>The whole consumer Internet entrepreneurship cycle has basically ended, and a new wave of entrepreneurship will be an intelligent revolution.</b></p><p>\"China has undergone great changes in the fields of consumer goods and manufacturing in the past two years. I have been to many factories such as making mattresses, down jackets, raising cattle, making steel and automobiles, and saw that labor is being replaced by machines on a large scale. Due to the huge Chinese consumer market, China's manufacturing industry has been the most active in intelligent investment in the world in the past two or three years.\"</p><p>Secondly, Wu Xiaobo pointed out that the manufacturing empowerment platform is reconstructing industrial resources, and many small and medium-sized enterprises are also undergoing changes in the intelligent revolution.</p><p>In the past, a complete manufacturing link from land purchase to production line, R&D, manufacturing and sales has been subverted today. \"If you want to be a sofa company in Hangzhou, you don't need to buy a 50-square-meter land in any jurisdiction in Hangzhou. You only need to answer a question, why do you want me to make a sofa today? What's the difference between my sofa and other rivals? You just need to find this question well and set up resources that can help you through the Internet empowerment platform.\"</p><p>Third, use data to improve the relationship between enterprises and consumers. After the epidemic, the cost of communication between people is very high. We need some data tools to rebuild the relationship between enterprises and consumers.</p><p>Fourthly, the new domestic products in the past two years have been a national trend triggered by fashion fashion, which is an entrepreneurial wave based on Chinese culture and Chinese consumers, especially young consumers. Entrepreneurs in this round of new national tide are mainly born in the 1980s and 1990s, and consumers are mainly born in the 1990s and 2000s.</p><p>According to the data generated by 618 this year, the market share of domestic brands has reached 72%, and 459 new brands have become the first in the sub-categories. This is a very obvious trend.</p><p>Last year's data showed that the market share of new domestic products in first-and second-tier cities reached 46%, that in third-and fourth-tier cities accounted for 30%, and that in other cities accounted for 24%. In 2020, the growth data of new domestic product consumption in first-and second-tier cities is 22.4%, and that in third-tier cities is as high as 45.7%.</p><p>Wu Xiaobo analyzed, \"These two data tell us that this round of new domestic products first exploded in first-and second-tier cities, and then its growth was obviously declining, while third-and fourth-tier cities and below were rising on a large scale, which means<b>The wave of new domestic products has just begun, and I think it will be 5-10 years before they are popularized nationwide. \"</b></p><p>Fifth, Wu Xiaobo proposed,<b>In recent years, people have always been discussing mode, traffic and the Internet. There is a term that has been diluted for many years and now it is back, that is, \"management\".</b>This round of organizational capability track determines the innovation possibility of an enterprise. An enterprise is ultimately an organization. All the dividends are eaten up, all the contingencies are used up, and it will eventually return to the organizational part.</p><p>At the end of his speech, Wu Xiaobo put forward the K-line theory. After the recovery of the epidemic, it will be different from the previous V-shaped and U-shaped ones. This round of good development will be better, and those that do not develop well will be worse.<b>In an era when consumption falls into a bottleneck and currency becomes stagflation, Wu Xiaobo puts forward three suggestions for everyone to fight against the K-line downward trend:</b></p><p><b>First, stick to your own business, do what you are familiar with and good at, and reduce costs and increase efficiency;</b></p><p><b>Second, rationally allocate assets;</b></p><p><b>Third, avoid spiritual involution and enjoy a better life.</b></p><p><b>Qin Shuo: New consumption is a definite opportunity in the next 5 to 10 years</b></p><p><img src=\"https://static.tigerbbs.com/11095cb66ea11e41baeb99b273d0d3fa\" tg-width=\"552\" tg-height=\"368\" referrerpolicy=\"no-referrer\"></p><p>According to relevant data, in 2020, the amount of investment and financing in the new consumer field reached nearly 45 billion yuan, and 286 projects were financed. In the first half of 2021, there were 333 financing incidents in the new consumer field, with a financing amount exceeding 50 billion.</p><p>Taking the \"tea coffee soft drink\" track as an example, investors are all sought after by Heytea, Genki Forest, Chayanyuese, Jane Eyre, Three and a Half Coffee, CHALI CHALI, Yongpu, and Sumida River.</p><p>Why is new consumption so hot? How long can it be popular? In this event, Qin Shuo shared the theme of \"From the 14th Five-Year Plan to 2035: New Consumption Trends and New Growth Opportunities\" to Teana car owners in Hangzhou.</p><p>\"There are 600 million people in China, with an average monthly income of 1,000 yuan, accounting for about 40% of the country's population, while the average monthly income of 3,000 yuan and below accounts for 60%. We are still a developing country.\" As a senior financial media person, Qin Shuo believes that although the growth level of China's bottom income is still relatively low, under the process of \"promoting common prosperity through high-quality development\", as more bottom income classes gradually rise to the middle class, there is great potential for future residents' consumption.</p><p>At the same time,<b>Qin Shuo believes that the future troika of the consumer industry is: basic consumption, silver consumption and new consumption, and new consumption is the most dynamic and imaginative part.</b></p><p>In terms of basic consumption, many people think that basic consumption is traditional and outdated, which is wrong, because basic consumption such as soy sauce and vinegar will always exist.</p><p>In terms of silver-haired consumption, this generation will not be as frugal as the \"post-50s\" generation when considering retirement, so the willingness to consume will increase in the future.</p><p>New consumption in China is mainly driven by the \"Z era\", and these populations and their consumption propositions are the natural soil for new consumption. For example, in the food and beverage track, the keywords are sugar-free sparkling water, high-end mineral water, vegetable protein drinks, and low-sugar and low-salt functional snacks. It can be seen that the new crowds faced by new consumption are greatly different from the traditional consumer groups. change.</p><p><b>In Qin Shuo's view, China will soon become the world's largest retail market for consumer goods, so the upgrading of domestic demand services such as \"clothing, food, housing, transportation, health and music\" combined with new technologies is a very certain investment track.</b></p><p><a href=\"https://laohu8.com/S/00700\">Tencent</a>Traffic giants like ByteDance are not investing in Internet companies on a large scale, but in new consumer companies. For example, Tencent invested in Heytea, Perfect Diary, TIMS, Shengxiangting, and Weilong. ByteDance invested in MANNER Coffee, Li Ziqi's contracted company Weinian, etc.</p><p>For the future of new consumption, Qin Shuo said<b>\"It is not the digitalization of original consumption, but the increase in consumption created by new supply. Therefore, everyone must understand that new consumption will bring a lot of increase in consumption, which is a definite opportunity in the next 5 to 10 years.\"</b></p><p>Qin Shuo also added that how to move from online celebrity to evergreen is the main challenge facing the new consumer industry. It is not difficult to be online celebrity for a while, and it is easy to produce short-term miracles through capital assistance. However, if you are too addicted to traffic gameplay, it will only overdraw brand credit, which will be unsustainable after all.</p><p><b>Hot discussion one</b></p><p><b>The wind comes fast and goes fast. How to avoid becoming a leek?</b></p><p><img src=\"https://static.tigerbbs.com/e0b299359bf8fa9d67661ab7cf24aa80\" tg-width=\"552\" tg-height=\"368\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Qin Shuo: I used to be a \"leek\"</b></p><p><b>Wu Xiaobo: Anti-locking \"desire\" focuses on long-term closed funds</b></p><p>At this event, Dongfeng Nissan Teana owners also had in-depth interactions with guests. When answering the question of the car owner \"How to avoid becoming a leek\", Qin Shuo gave his own personal statement: \"I have also been a leek, and I have reflected on it. The fundamental reason why I become a leek every time is not a knowledge problem, but a psychological problem., that is, greed and speculation\".</p><p>Qin Shuo gave two suggestions on this:</p><p><b>First, try not to invest yourself. You can buy some funds and leave professional matters to professional people.</b></p><p>Because what a person is good at is very limited, if you don't want to be a leek, you have to reduce the probability of playing by yourself. Don't see this concept or that concept this year, and go in blindly if you don't understand it.</p><p><b>Second, if you want to invest yourself, you must have rational expectations, buy what you really understand, and don't speculate.</b></p><p><b>In terms of choosing stocks, you can be in line with funds. For example, some fund companies with good reputation in long-term investment and relatively good risk control can see what kind of stocks their funds buy.</b></p><p>\"For example, they bought a bunch of white horse consumer stocks, which have been very powerful in the past three years. This year, white horse consumer stocks have collectively fallen, and some of them have fallen by one third or even 40%. When there is no fundamental change in the fundamentals and there are still When many fund companies hold them, you can buy them 40% cheaper than fund companies now, so why not buy them? If you have to operate them, I think you can buy them.\"</p><p>Wu Xiaobo suggested that investors should trust professional institutions and focus their asset allocation more on funds.</p><p>\"I never buy stocks myself. I suggest that professional things should be handled by professional people. If you are still very interested, you can invest 5% or 10% of your assets in the market yourself and play with fear.\"</p><p>Wu Xiaobo specifically mentioned closed-end funds, \"This year, many big fund companies have issued some long-term closed-end funds, which cannot be withdrawn for 8-10 years. In reverse, you will lock in your desires.<b>If you are sure of this fund manager's financial management philosophy, are relatively certain about his past performance, and are optimistic about his investment track, then you will be with him for 8-10 years. \"</b></p><p><b>\"The era of selling funds promised to double in three years has passed in China\".</b></p><p><b>Hot Discussion 2</b></p><p><b>If you have spare money, what to buy? How to buy it?</b></p><p><img src=\"https://static.tigerbbs.com/961b1d92290cb3aafa96da8210d6b66f\" tg-width=\"552\" tg-height=\"368\" referrerpolicy=\"no-referrer\"></p><p><b>Wu Xiaobo: Add sufficient leverage to the promising track</b></p><p><b>Qin Shuo: It's time to buy Chinese concept stocks at the bottom</b></p><p>Not long ago, in the sharing of the Phoenix.com Financial Summit and Tianlai Scienjoy Shenzhen Station, Qin Shuo once made it clear that many Hong Kong stocks and US stocks have fallen to the knees and even ankles, which is an opportunity for value investment.</p><p>\"The last event in Shenzhen was on Saturday. If an audience listened and bought it, many stocks rose by 15% on Monday.\"</p><p>At the event site of Teana Scienjoy Hangzhou Station, Qin Shuo once again emphasized this view.<b>\"Chinese concept stocks have fallen too hard now, and a large number of companies have fallen by more than 50% or even 80%. Is this the only value of these companies? It is impossible to build another giant company like this.\"</b></p><p>Qin Shuo used \"Duan Yongping Investment\"<a href=\"https://laohu8.com/S/NTES\">NetEase</a>For example, when NetEase fell to one dollar, many people were afraid, but after analysis, he thought that no matter how bad the company was, it would be higher than the current stock price.</p><p>Duan Yongping once said: \"What is the biggest advantage of buying stocks at this time? It's not that you can buy low, but that you can buy more at a low price.\"</p><p>\"You are greedy when others are afraid, and you are afraid when others are greedy. This sentence is really a wise saying,\" Qin Shuo concluded.</p><p>From an investment perspective, Wu Xiaobo believes that<b>Real estate is not a good investment target for many high net worth individuals</b>, unless you want to improve your housing environment.</p><p><b>\"If you think you have a stable income in the next five years, you can increase sufficient leverage. It's best to put about 60% leverage on your personal assets and buy those predictable and trend-related assets to resist this round of inflation\".</b></p><p><b>epilogue</b></p><p>Based on the forefront of the times, help advance life. Since its domestic production in 2004, Dongfeng Nissan Teana has witnessed the rapid take-off of China's economy, bringing a driving experience full of quality and style to the growing urban elite, and accompanying them to achieve their advanced goals in life step by step.</p><p>As a value leader in the domestic mid-to high-end car field, Teana's 2021 model provides consumers with a leapfrog with its comprehensive product strength of \"not only comfort, but also surging, controlled and calm\"<a href=\"https://laohu8.com/S/DLX\">Luxurious</a>Driving experience. Thanks to the blessing of Ward's top ten global engines in 2019 and 2020, and the world's first mass-produced variable compression ratio engine VC-TURBO super-variable engine, Teana 2021 stands out from its peers with its surging and efficient power performance; ProPILOT super-intelligent driving is based on leading intelligence in its class and domestic road tests of 380,000 kilometers, and has become an L2-level autonomous driving assistance system with functionality and ease of use that far exceeds competing products; Nissan Connect, on the other hand, brings users an interconnected experience full of surprises with its super-powerful and super-full car networking functions at the same level.</p><p>In recent years, Dongfeng Nissan Teana has actively joined hands with top domestic financial media to build Teana Sixianghui, making it quickly a high-end ideological interactive platform linking financial leaders, well-known scholars and elite car owners, delivering forward-looking financial insights and trend analysis to new urban elites, pointing out opportunities for wealth creation, and attracting the attention of the majority of Teana car owners and investors. The Phoenix Net Financial Summit and Tianlai Sixianghui Hangzhou Station, the sharing brought by top financial coffee makers Wu Xiaobo and Qin Shuo, undoubtedly provided you with some valuable financial suggestions and helped you clarify your future investment ideas.</p><p>The wave of science and technology is in the ascendant, the world epidemic continues, and international competition is intensifying. Seawater on one side and flames on the other. The uncertain situation has aggravated the turmoil of the capital market, and opportunities and crises coexist in the future. How should investors correctly understand the current situation, and how should they rationally allocate assets to resist risks and achieve steady appreciation of assets? And these can be answered in Teana Sixianghui.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What are the certainty opportunities in the next 5 to 10 years? Wu Xiaobo Qin Shuo said this</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\">\nWhat are the certainty opportunities in the next 5 to 10 years? Wu Xiaobo Qin Shuo said this\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/56\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/63f98f2e899d607a12011e4ecf9c0ac7);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">凤凰网港股 </p>\n<p class=\"h-time smaller\">2021-09-16 22:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On September 12th, 2021 Phoenix Net Financial Summit and Tianlai Sixianghui Hangzhou Station were successfully held. Wu Xiaobo, a famous financial writer, and Qin Shuo, a financial media person, attended the event and delivered speeches. The guests focused on Hangzhou's regional economic and wealth hotspots, and shared high-value wealth knowledge on capital market, housing price trends, industry investment opportunities and other related wealth creation topics.</p><p><b>Wu Xiaobo: The intelligent revolution is China's most enthusiastic testing ground</b></p><p><img src=\"https://static.tigerbbs.com/6f59c35ff2a24d05b5a15487dcee7fe1\" tg-width=\"552\" tg-height=\"368\" referrerpolicy=\"no-referrer\"></p><p>Wu Xiaobo, who was born in journalism department, has been an industrial journalist in depth studying China's industrial economy for 30 years since 1990, and has written Chinese business works such as \"Thirty Years of Agitation\". He always believes that the development of a country and an economy depends mainly on one thing, that is, economic cells.</p><p>After inspecting as many as 38 companies in the first eight months of this year, Wu Xiaobo brought \"New Trends in Industrial Transformation, New Opportunities for Track Investment\" to Teana car owners in Hangzhou in this event through the changes in China's economic cells seen and summarized in the companies.</p><p>Wu Xiaobo believes that, first of all,<b>The whole consumer Internet entrepreneurship cycle has basically ended, and a new wave of entrepreneurship will be an intelligent revolution.</b></p><p>\"China has undergone great changes in the fields of consumer goods and manufacturing in the past two years. I have been to many factories such as making mattresses, down jackets, raising cattle, making steel and automobiles, and saw that labor is being replaced by machines on a large scale. Due to the huge Chinese consumer market, China's manufacturing industry has been the most active in intelligent investment in the world in the past two or three years.\"</p><p>Secondly, Wu Xiaobo pointed out that the manufacturing empowerment platform is reconstructing industrial resources, and many small and medium-sized enterprises are also undergoing changes in the intelligent revolution.</p><p>In the past, a complete manufacturing link from land purchase to production line, R&D, manufacturing and sales has been subverted today. \"If you want to be a sofa company in Hangzhou, you don't need to buy a 50-square-meter land in any jurisdiction in Hangzhou. You only need to answer a question, why do you want me to make a sofa today? What's the difference between my sofa and other rivals? You just need to find this question well and set up resources that can help you through the Internet empowerment platform.\"</p><p>Third, use data to improve the relationship between enterprises and consumers. After the epidemic, the cost of communication between people is very high. We need some data tools to rebuild the relationship between enterprises and consumers.</p><p>Fourthly, the new domestic products in the past two years have been a national trend triggered by fashion fashion, which is an entrepreneurial wave based on Chinese culture and Chinese consumers, especially young consumers. Entrepreneurs in this round of new national tide are mainly born in the 1980s and 1990s, and consumers are mainly born in the 1990s and 2000s.</p><p>According to the data generated by 618 this year, the market share of domestic brands has reached 72%, and 459 new brands have become the first in the sub-categories. This is a very obvious trend.</p><p>Last year's data showed that the market share of new domestic products in first-and second-tier cities reached 46%, that in third-and fourth-tier cities accounted for 30%, and that in other cities accounted for 24%. In 2020, the growth data of new domestic product consumption in first-and second-tier cities is 22.4%, and that in third-tier cities is as high as 45.7%.</p><p>Wu Xiaobo analyzed, \"These two data tell us that this round of new domestic products first exploded in first-and second-tier cities, and then its growth was obviously declining, while third-and fourth-tier cities and below were rising on a large scale, which means<b>The wave of new domestic products has just begun, and I think it will be 5-10 years before they are popularized nationwide. \"</b></p><p>Fifth, Wu Xiaobo proposed,<b>In recent years, people have always been discussing mode, traffic and the Internet. There is a term that has been diluted for many years and now it is back, that is, \"management\".</b>This round of organizational capability track determines the innovation possibility of an enterprise. An enterprise is ultimately an organization. All the dividends are eaten up, all the contingencies are used up, and it will eventually return to the organizational part.</p><p>At the end of his speech, Wu Xiaobo put forward the K-line theory. After the recovery of the epidemic, it will be different from the previous V-shaped and U-shaped ones. This round of good development will be better, and those that do not develop well will be worse.<b>In an era when consumption falls into a bottleneck and currency becomes stagflation, Wu Xiaobo puts forward three suggestions for everyone to fight against the K-line downward trend:</b></p><p><b>First, stick to your own business, do what you are familiar with and good at, and reduce costs and increase efficiency;</b></p><p><b>Second, rationally allocate assets;</b></p><p><b>Third, avoid spiritual involution and enjoy a better life.</b></p><p><b>Qin Shuo: New consumption is a definite opportunity in the next 5 to 10 years</b></p><p><img src=\"https://static.tigerbbs.com/11095cb66ea11e41baeb99b273d0d3fa\" tg-width=\"552\" tg-height=\"368\" referrerpolicy=\"no-referrer\"></p><p>According to relevant data, in 2020, the amount of investment and financing in the new consumer field reached nearly 45 billion yuan, and 286 projects were financed. In the first half of 2021, there were 333 financing incidents in the new consumer field, with a financing amount exceeding 50 billion.</p><p>Taking the \"tea coffee soft drink\" track as an example, investors are all sought after by Heytea, Genki Forest, Chayanyuese, Jane Eyre, Three and a Half Coffee, CHALI CHALI, Yongpu, and Sumida River.</p><p>Why is new consumption so hot? How long can it be popular? In this event, Qin Shuo shared the theme of \"From the 14th Five-Year Plan to 2035: New Consumption Trends and New Growth Opportunities\" to Teana car owners in Hangzhou.</p><p>\"There are 600 million people in China, with an average monthly income of 1,000 yuan, accounting for about 40% of the country's population, while the average monthly income of 3,000 yuan and below accounts for 60%. We are still a developing country.\" As a senior financial media person, Qin Shuo believes that although the growth level of China's bottom income is still relatively low, under the process of \"promoting common prosperity through high-quality development\", as more bottom income classes gradually rise to the middle class, there is great potential for future residents' consumption.</p><p>At the same time,<b>Qin Shuo believes that the future troika of the consumer industry is: basic consumption, silver consumption and new consumption, and new consumption is the most dynamic and imaginative part.</b></p><p>In terms of basic consumption, many people think that basic consumption is traditional and outdated, which is wrong, because basic consumption such as soy sauce and vinegar will always exist.</p><p>In terms of silver-haired consumption, this generation will not be as frugal as the \"post-50s\" generation when considering retirement, so the willingness to consume will increase in the future.</p><p>New consumption in China is mainly driven by the \"Z era\", and these populations and their consumption propositions are the natural soil for new consumption. For example, in the food and beverage track, the keywords are sugar-free sparkling water, high-end mineral water, vegetable protein drinks, and low-sugar and low-salt functional snacks. It can be seen that the new crowds faced by new consumption are greatly different from the traditional consumer groups. change.</p><p><b>In Qin Shuo's view, China will soon become the world's largest retail market for consumer goods, so the upgrading of domestic demand services such as \"clothing, food, housing, transportation, health and music\" combined with new technologies is a very certain investment track.</b></p><p><a href=\"https://laohu8.com/S/00700\">Tencent</a>Traffic giants like ByteDance are not investing in Internet companies on a large scale, but in new consumer companies. For example, Tencent invested in Heytea, Perfect Diary, TIMS, Shengxiangting, and Weilong. ByteDance invested in MANNER Coffee, Li Ziqi's contracted company Weinian, etc.</p><p>For the future of new consumption, Qin Shuo said<b>\"It is not the digitalization of original consumption, but the increase in consumption created by new supply. Therefore, everyone must understand that new consumption will bring a lot of increase in consumption, which is a definite opportunity in the next 5 to 10 years.\"</b></p><p>Qin Shuo also added that how to move from online celebrity to evergreen is the main challenge facing the new consumer industry. It is not difficult to be online celebrity for a while, and it is easy to produce short-term miracles through capital assistance. However, if you are too addicted to traffic gameplay, it will only overdraw brand credit, which will be unsustainable after all.</p><p><b>Hot discussion one</b></p><p><b>The wind comes fast and goes fast. How to avoid becoming a leek?</b></p><p><img src=\"https://static.tigerbbs.com/e0b299359bf8fa9d67661ab7cf24aa80\" tg-width=\"552\" tg-height=\"368\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Qin Shuo: I used to be a \"leek\"</b></p><p><b>Wu Xiaobo: Anti-locking \"desire\" focuses on long-term closed funds</b></p><p>At this event, Dongfeng Nissan Teana owners also had in-depth interactions with guests. When answering the question of the car owner \"How to avoid becoming a leek\", Qin Shuo gave his own personal statement: \"I have also been a leek, and I have reflected on it. The fundamental reason why I become a leek every time is not a knowledge problem, but a psychological problem., that is, greed and speculation\".</p><p>Qin Shuo gave two suggestions on this:</p><p><b>First, try not to invest yourself. You can buy some funds and leave professional matters to professional people.</b></p><p>Because what a person is good at is very limited, if you don't want to be a leek, you have to reduce the probability of playing by yourself. Don't see this concept or that concept this year, and go in blindly if you don't understand it.</p><p><b>Second, if you want to invest yourself, you must have rational expectations, buy what you really understand, and don't speculate.</b></p><p><b>In terms of choosing stocks, you can be in line with funds. For example, some fund companies with good reputation in long-term investment and relatively good risk control can see what kind of stocks their funds buy.</b></p><p>\"For example, they bought a bunch of white horse consumer stocks, which have been very powerful in the past three years. This year, white horse consumer stocks have collectively fallen, and some of them have fallen by one third or even 40%. When there is no fundamental change in the fundamentals and there are still When many fund companies hold them, you can buy them 40% cheaper than fund companies now, so why not buy them? If you have to operate them, I think you can buy them.\"</p><p>Wu Xiaobo suggested that investors should trust professional institutions and focus their asset allocation more on funds.</p><p>\"I never buy stocks myself. I suggest that professional things should be handled by professional people. If you are still very interested, you can invest 5% or 10% of your assets in the market yourself and play with fear.\"</p><p>Wu Xiaobo specifically mentioned closed-end funds, \"This year, many big fund companies have issued some long-term closed-end funds, which cannot be withdrawn for 8-10 years. In reverse, you will lock in your desires.<b>If you are sure of this fund manager's financial management philosophy, are relatively certain about his past performance, and are optimistic about his investment track, then you will be with him for 8-10 years. \"</b></p><p><b>\"The era of selling funds promised to double in three years has passed in China\".</b></p><p><b>Hot Discussion 2</b></p><p><b>If you have spare money, what to buy? How to buy it?</b></p><p><img src=\"https://static.tigerbbs.com/961b1d92290cb3aafa96da8210d6b66f\" tg-width=\"552\" tg-height=\"368\" referrerpolicy=\"no-referrer\"></p><p><b>Wu Xiaobo: Add sufficient leverage to the promising track</b></p><p><b>Qin Shuo: It's time to buy Chinese concept stocks at the bottom</b></p><p>Not long ago, in the sharing of the Phoenix.com Financial Summit and Tianlai Scienjoy Shenzhen Station, Qin Shuo once made it clear that many Hong Kong stocks and US stocks have fallen to the knees and even ankles, which is an opportunity for value investment.</p><p>\"The last event in Shenzhen was on Saturday. If an audience listened and bought it, many stocks rose by 15% on Monday.\"</p><p>At the event site of Teana Scienjoy Hangzhou Station, Qin Shuo once again emphasized this view.<b>\"Chinese concept stocks have fallen too hard now, and a large number of companies have fallen by more than 50% or even 80%. Is this the only value of these companies? It is impossible to build another giant company like this.\"</b></p><p>Qin Shuo used \"Duan Yongping Investment\"<a href=\"https://laohu8.com/S/NTES\">NetEase</a>For example, when NetEase fell to one dollar, many people were afraid, but after analysis, he thought that no matter how bad the company was, it would be higher than the current stock price.</p><p>Duan Yongping once said: \"What is the biggest advantage of buying stocks at this time? It's not that you can buy low, but that you can buy more at a low price.\"</p><p>\"You are greedy when others are afraid, and you are afraid when others are greedy. This sentence is really a wise saying,\" Qin Shuo concluded.</p><p>From an investment perspective, Wu Xiaobo believes that<b>Real estate is not a good investment target for many high net worth individuals</b>, unless you want to improve your housing environment.</p><p><b>\"If you think you have a stable income in the next five years, you can increase sufficient leverage. It's best to put about 60% leverage on your personal assets and buy those predictable and trend-related assets to resist this round of inflation\".</b></p><p><b>epilogue</b></p><p>Based on the forefront of the times, help advance life. Since its domestic production in 2004, Dongfeng Nissan Teana has witnessed the rapid take-off of China's economy, bringing a driving experience full of quality and style to the growing urban elite, and accompanying them to achieve their advanced goals in life step by step.</p><p>As a value leader in the domestic mid-to high-end car field, Teana's 2021 model provides consumers with a leapfrog with its comprehensive product strength of \"not only comfort, but also surging, controlled and calm\"<a href=\"https://laohu8.com/S/DLX\">Luxurious</a>Driving experience. Thanks to the blessing of Ward's top ten global engines in 2019 and 2020, and the world's first mass-produced variable compression ratio engine VC-TURBO super-variable engine, Teana 2021 stands out from its peers with its surging and efficient power performance; ProPILOT super-intelligent driving is based on leading intelligence in its class and domestic road tests of 380,000 kilometers, and has become an L2-level autonomous driving assistance system with functionality and ease of use that far exceeds competing products; Nissan Connect, on the other hand, brings users an interconnected experience full of surprises with its super-powerful and super-full car networking functions at the same level.</p><p>In recent years, Dongfeng Nissan Teana has actively joined hands with top domestic financial media to build Teana Sixianghui, making it quickly a high-end ideological interactive platform linking financial leaders, well-known scholars and elite car owners, delivering forward-looking financial insights and trend analysis to new urban elites, pointing out opportunities for wealth creation, and attracting the attention of the majority of Teana car owners and investors. The Phoenix Net Financial Summit and Tianlai Sixianghui Hangzhou Station, the sharing brought by top financial coffee makers Wu Xiaobo and Qin Shuo, undoubtedly provided you with some valuable financial suggestions and helped you clarify your future investment ideas.</p><p>The wave of science and technology is in the ascendant, the world epidemic continues, and international competition is intensifying. Seawater on one side and flames on the other. The uncertain situation has aggravated the turmoil of the capital market, and opportunities and crises coexist in the future. How should investors correctly understand the current situation, and how should they rationally allocate assets to resist risks and achieve steady appreciation of assets? And these can be answered in Teana Sixianghui.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d2a986280a0d0ac6d75b62fd1fec8874","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188077028","content_text":"9月12日，2021凤凰网财经峰会暨天籁思享荟杭州站成功召开，著名财经作家吴晓波、财经媒体人秦朔出席活动并发言。嘉宾们聚焦于杭州区域经济与财富热点，就资本市场、房价趋势、行业投资机会等相关创富话题，带来一场高价值财富知识分享。\n吴晓波：智能化革命是中国最热烈的试验场\n\n新闻系出身的吴晓波从90年开始，作为一名工业记者深入研究中国产业经济三十年，并写出《激荡三十年》等中国商业著作。他始终认为一个国家和一个经济体的发展最主要就看一件事，就是经济细胞。\n在今年前8个月考察多达38家企业后，吴晓波通过在企业中看到并总结的中国经济细胞变化，在本次活动中为杭州的天籁车主们带来了《产业变革新趋势、赛道投资新机遇》主题分享。\n吴晓波认为，首先，整个消费互联网创业周期已基本上结束，新一轮创业浪潮将是智能化革命。\n“中国在消费品及制造业领域里这两年发生了特别大的变化。我去了很多像做床垫、做羽绒服、养牛、炼钢和汽车的工厂，看到人工正在大规模地被机器所替代。由于有着庞大的中国消费市场存在，在过去两三年中国制造业在智能化投资是全世界最积极的” 。\n其次，吴晓波指出制造业赋能平台，正在重构产业资源，很多中小企业也在智能化革命中进行变革。\n过去，从买土地到生产线、研发、制造、销售这样一个完整的制造环节，在今天已被颠覆。“如果说你想在杭州做一个沙发公司，你不需要在杭州任何一个辖区去买一个50平方米地，你只需要回答一个问题，为什么今天要我来做沙发，我做的沙发和其他对手有什么区别，你只要找好这个问题，通过互联网赋能平台去组建那些能够帮助你的资源就可以实现” 。\n第三，用数据化的方式改善企业跟消费者之间的关系，疫情之后造成人和人之间的交流成本很高，我们需要一些数据化工具重建企业内部之间以及与消费者之间的关系。\n第四，这两年新国货是一次时尚流行所引爆的国潮，这是一个基于中国文化和中国消费者，特别是年轻消费者所形成的创业浪潮。这一轮新国潮创业者以80、90后为主，消费者以90、00后为主。\n今年618产生的数据显示，国货品牌市场占有率达到72%，459个新品牌成为细分品类中的第一名，这是一个非常明显的趋势。\n去年的数据显示，一、二线城市的新国货市场占有率达到46%，三、四线城市占30%，其他24%。而2020年一、二线城市新国货消费增长数据是22.4%，三线城市高达45.7%。\n吴晓波分析，“这两个数据告诉我们，这一轮新国货首先在一、二线城市爆炸，然后它的增长明显是在下降，而三四线及以下城市在大规模上涨，这意味着新国货浪潮才刚刚开始，我认为全国普及还有5-10年的时间”。\n第五，吴晓波提出，近几年人们总是在讨论模式、流量、互联网，有一个名词很多年被淡化而现在又重新回来了，就是“管理”。这一轮组织能力赛道决定企业的创新可能性，企业最终是一个组织，红利都吃完了，偶然性都被用光了，最终必然就回到组织部分。\n在发言最后，吴晓波提出K线理论，疫情复苏之后，有别于以前的V型、U型，这轮发展好的将更好，发展不好的会更惨。消费陷入瓶颈，通货变成滞胀的时代，对抗K线下行，吴晓波为大家提出三点建议：\n第一，坚守自己的本业，做熟悉擅长的事，降本增效；\n第二，理性配置资产；\n第三，避免精神内卷，享受美好生活。\n秦朔：新消费是未来5到10年的确定性机会\n\n据相关数据，2020年新消费领域投融资额达近450亿元，获得融资的项目有286起。而2021年上半年，新消费领域融资事件已达333起，融资金额超500亿。\n以“茶咖软饮”赛道为例，喜茶、元气森林、茶颜悦色、简爱、三顿半咖啡、CHALI茶里、永璞、隅田川，投资人莫不追捧。\n新消费为何这么火？还能火多久？在本次活动中，秦朔为杭州的天籁车主们带来了《从十四五到2035：消费新趋势与增长新机遇》主题分享。\n“中国有6亿人，月均收入是1千元，这部分人口占全国约40%，而月均收入3千元及以下人口占60%，我们仍然是一个发展中国家”，作为资深财经媒体人，秦朔认为中国底层收入增长水平虽然目前还比较低，但在“高质量发展中促进共同富裕”的进程下，随着更多底层收入阶层慢慢提升为中间阶层，未来居民消费大有潜力。\n同时，秦朔认为消费行业未来的三驾马车是：基础消费、银发消费和新消费，而新消费是其中最具活力和想象力的部分。\n基础消费方面，很多人觉得基础消费是传统，过时了，这不对，因为酱油醋之类的基础性消费永远存在。\n银发消费方面，这一代人考虑养老的时候不会像“50后”那一代人那么节俭，所以未来消费意愿会越来越起来。\n而新消费在中国主要是“Z时代”驱动的，这些人口以及他们的消费主张是新消费天然的土壤。比如在食品饮料赛道里，关键词都是无糖气泡水、高端矿泉水、植物蛋白饮料、低糖低盐功能型零食，可以看到新消费所面对的新人群跟传统消费人群有巨大变化。\n在秦朔看来，中国很快会成为全球最大的消费品零售市场，所以围绕“衣、食、住、行、康、乐”这样的内需服务结合新技术的升级是非常确定的投资赛道。\n腾讯、字节跳动这样的流量巨人，现在大规模不是在投互联网公司，而是在投新消费公司。比如腾讯投了喜茶、完美日记、TIMS、盛香亭、卫龙。字节跳动投了MANNER咖啡、李子柒的签约公司微念等等。\n对于新消费的未来，秦朔表示“它不是原有消费的数字化，而是新供给创造的消费增量。所以大家一定要理解新消费会带来很多消费增量，这是未来5到10年的确定性机会”。\n秦朔还补充道，如何从网红走上长青，是当下新消费行业面临的主要挑战。一时网红不难，通过资本助力很容易产生短期奇迹，但是如果过度沉迷于流量玩法，只会透支品牌信用，终究难以持续。\n热议一\n风口来得快走得也快，如何避免成为韭菜？\n\n秦朔：我也曾是“韭菜”\n吴晓波：反锁“欲望” 关注长周期封闭基金\n本次活动现场，东风日产天籁车主也与嘉宾进行了深度互动。在回答“如何避免成为韭菜”的车主提问时，秦朔给出了自己的现身说法：“我也当过韭菜，我反思了一下，我每次当韭菜的根本原因不是知识问题，而是心理问题，就是贪婪、投机”。\n秦朔对此给出了两点建议：\n第一、尽量不要自己做投资，可以买一些基金，把专业的事交给专业的人。\n因为一个人擅长做的事情很有限，所以你要不想当韭菜，就要减少自己去玩的概率。不要看到今年这个概念、那个概念，也搞不清楚就盲目进去。\n第二、如果要自己投资，要有理性预期，要买自己真正懂的东西，不要投机。\n在选择股票方面，可以跟基金看齐，比如一些在长期投资中具有良好声誉的、风控比较好的基金公司，去看他们的基金都买什么样的股票。\n“比如说他们买了一堆白马消费股，在过去三年都很厉害，今年白马消费股集体向下，有一些已经向下三分之一甚至40%，当基本面没有根本性变化且还有很多基金公司持有的时候，你现在买可以比基金公司便宜40%，那为什么不买，如果一定要操作，我觉得就可以买”。\n吴晓波建议投资者相信专业机构，可以将资产配置更偏重于基金。\n“我自己是从来不买股票的，我建议专业的事情交给专业的人打理。如果你还是很有兴趣，可以拿你资产的5%、10%自己在市场里去投资，去玩个胆战心惊。”\n吴晓波特别提到了封闭基金，“今年好多大的基金公司发了一些长周期的封闭式基金，8-10年不能退出，反向把你的欲望锁定住，如果你确定这个基金经理他的理财理念，对他过往业绩比较确定，看好他的投资赛道，那你就跟他8-10年”。\n“卖基金承诺三年翻一番，这个时代在中国已经过去了”。\n热议二\n身上有闲钱，买什么？怎么买？\n\n吴晓波：对看好的赛道要加足杠杆\n秦朔：是时候抄底中概股了\n在不久前凤凰网财经峰会暨天籁思享荟深圳站的分享中，秦朔就曾经明确表示，很多港股和美股已经跌到膝盖乃至脚踝了，是一个价值投资的机会。\n“上次深圳的活动是在周六，如果有观众听了并且买了，周一很多股票就涨了15%”。\n在本次天籁思享荟杭州站的活动现场，秦朔再次强调了这一观点，“中概股现在跌得太厉害，大量的公司都跌了50%以上甚至80%，这些公司的价值是不是只有这一点？如果想再打造一个这样的巨型公司是不可能的”。\n秦朔以“段永平投资网易”的故事举例，称网易当年跌到一美元的时候，很多人都害怕，但是他经过分析之后认为这个公司再坏也会比现在的股价高。\n段永平曾说过：“这时候买股票最大的好处是什么？不是可以买得低，而是在低的价位上可以买得多。”\n“别人恐惧的时候你贪婪，别人贪婪的时候你恐惧，这句话真的是至理名言”，秦朔总结道。\n从投资角度，吴晓波认为不动产对很多高净值人来说不是很好的投资标的，除非你为了改善自己的住房环境。\n“如果你认为自己未来5年自己有稳定的收入，可以加足杠杆，最好能在个人资产上放个60%左右的杠杆，买那些可预期的、跟趋势有关的资产，抵抗这一轮通货膨胀”。\n结语\n立足时代前沿，助力人生进阶。自2004年国产以来，东风日产天籁见证了中国经济的高速腾飞，为不断壮大的都市精英阶层带去充满品质与格调的驾乘感受，陪伴着他们一步步实现人生的进阶目标。\n作为国内中高级车领域的价值引领者，天籁2021款凭借“不止于舒适，更是澎湃、掌控、从容”的全面产品实力，为消费者奉上越级豪华的驾乘体验。得益于蝉联2019年和2020年沃德全球十佳发动机，全球首款量产可变压缩比发动机VC-TURBO超变擎的加持，天籁2021款以澎湃且高效的动力表现傲视同侪；ProPILOT超智驾基于领先同级的智能化与国内38万公里道路测试，成为功能性、易用性远超竞品的L2级自动驾驶辅助系统；而Nissan Connect超智联则以同级超强、超全车联网功能，为用户带来充满惊喜的互联体验。\n近年来，东风日产天籁积极携手国内顶尖财经媒体，倾力打造天籁思享荟，使其迅速成为链接财经领袖、知名学者、精英车主的高端思想互动平台，为都市新精英们传递前瞻性的财经洞察和趋势解析，指明创富机遇，受到广大天籁车主和投资者的关注。此次凤凰网财经峰会暨天籁思享荟杭州站，顶级财经大咖吴晓波和秦朔带来的分享，无疑给大家提供了一些宝贵的理财建议，帮助大家厘清未来投资思路。\n科技浪潮方兴未艾，世界疫情不断，国际竞争加剧。一边是海水，一边是火焰。不确定的时局，加剧了资本市场的动荡，未来机遇与危机并存。投资者该如何正确认识时局，又该如何合理配置资产抵御风险，实现资产的平稳增值？而这些都能在天籁思享荟找到答案。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":821,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814358569,"gmtCreate":1630769015551,"gmtModify":1676530392748,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/814358569","repostId":"1190341278","repostType":4,"repost":{"id":"1190341278","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1630734117,"share":"https://ttm.financial/m/news/1190341278?lang=en_US&edition=fundamental","pubTime":"2021-09-04 13:41","market":"us","language":"zh","title":"Didi Chuxing: Foreign media reported rumors about corporate shareholding as false news","url":"https://stock-news.laohu8.com/highlight/detail?id=1190341278","media":"老虎资讯综合","summary":"滴滴出行：滴滴目前正积极全面配合网络安全审查，外媒关于北京市政府协调有关企业入股滴滴的传言为不实消息。\n9月3日，外媒报道，北京市政府已提议对滴滴出行进行投资，这家全球最大的网约车公司将被中国国有企业","content":"<p>Didi Chuxing: Didi is currently actively and fully cooperating with the network security review. Foreign media rumors that the Beijing Municipal Government coordinated relevant enterprises to invest in Didi are false news.</p><p>On September 3, foreign media reported that the Beijing Municipal Government had proposed<a href=\"https://laohu8.com/S/DIDI\">Didi</a>Travel to invest, and the world's largest ride-hailing company will be controlled by Chinese state-owned enterprises. According to people familiar with the matter, according to the preliminary proposal, some related companies, including Shouqi Group, will acquire Didi's shares and discuss related details such as whether they have veto power and board seats.</p><p><img src=\"https://static.tigerbbs.com/4f2becf5ca367f11ce631367fc1575dc\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Didi Chuxing: Foreign media reported rumors about corporate shareholding as false news</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\">\nDidi Chuxing: Foreign media reported rumors about corporate shareholding as false news\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-09-04 13:41</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Didi Chuxing: Didi is currently actively and fully cooperating with the network security review. Foreign media rumors that the Beijing Municipal Government coordinated relevant enterprises to invest in Didi are false news.</p><p>On September 3, foreign media reported that the Beijing Municipal Government had proposed<a href=\"https://laohu8.com/S/DIDI\">Didi</a>Travel to invest, and the world's largest ride-hailing company will be controlled by Chinese state-owned enterprises. According to people familiar with the matter, according to the preliminary proposal, some related companies, including Shouqi Group, will acquire Didi's shares and discuss related details such as whether they have veto power and board seats.</p><p><img src=\"https://static.tigerbbs.com/4f2becf5ca367f11ce631367fc1575dc\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/90e9b3b1ac56aae7290447c10b3ea865","relate_stocks":{"DIDI":"滴滴(已退市)"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190341278","content_text":"滴滴出行：滴滴目前正积极全面配合网络安全审查，外媒关于北京市政府协调有关企业入股滴滴的传言为不实消息。\n9月3日，外媒报道，北京市政府已提议对滴滴出行进行投资，这家全球最大的网约车公司将被中国国有企业控制。知情人士称，根据初步提议，包括首汽集团在内的一些相关公司将收购滴滴的股份，商讨已经涉及是否拥有否决权和董事会席位等相关细节问题。","news_type":1,"symbols_score_info":{"DIDI":0.9}},"isVote":1,"tweetType":1,"viewCount":488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894935894,"gmtCreate":1628781579218,"gmtModify":1676529854592,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/894935894","repostId":"1118442405","repostType":4,"repost":{"id":"1118442405","kind":"news","pubTimestamp":1628781545,"share":"https://ttm.financial/m/news/1118442405?lang=en_US&edition=fundamental","pubTime":"2021-08-12 23:19","market":"hk","language":"zh","title":"There are not many tickets left, how does Baidu Apollo compete with the smart travel arena?","url":"https://stock-news.laohu8.com/highlight/detail?id=1118442405","media":" 子弹财经","summary":"北京时间8月12日，百度发布了第二季度未经审计的财务报告。第二季度，百度实现营收314亿元，归属百度的净利润（非美国通用会计准则）54亿元，再超市场预期。其中，百度Apollo表现亮眼，测试里程方面，","content":"<p><div>On August 12th, Beijing time, Baidu released its unaudited financial report for the second quarter. In the second quarter, Baidu achieved revenue of 31.4 billion yuan, and net profit attributable to Baidu (non-GAAP) of 5.4 billion yuan, exceeding market expectations again. Among them, Baidu Apollo performed well. In terms of test mileage, the cumulative autonomous driving test mileage of Apollo L4 exceeded 12 million kilometers, a year-on-year increase of 152%. In terms of testing qualifications, Baidu Apollo has obtained 278 autonomous driving test licenses and continues to lead the industry. When the Q1 financial report was released, Baidu CEO Robin Li once said: \"With...</p><p><a href=\"https://mp.weixin.qq.com/s/wkn2TfEEB-H3Lk-SYCN34g\">Web link</a></div></p>","source":"zdcj","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>There are not many tickets left, how does Baidu Apollo compete with the smart travel arena?</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\">\nThere are not many tickets left, how does Baidu Apollo compete with the smart travel arena?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\"> 子弹财经</strong><span class=\"h-time small\">2021-08-12 23:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>On August 12th, Beijing time, Baidu released its unaudited financial report for the second quarter. In the second quarter, Baidu achieved revenue of 31.4 billion yuan, and net profit attributable to Baidu (non-GAAP) of 5.4 billion yuan, exceeding market expectations again. Among them, Baidu Apollo performed well. In terms of test mileage, the cumulative autonomous driving test mileage of Apollo L4 exceeded 12 million kilometers, a year-on-year increase of 152%. In terms of testing qualifications, Baidu Apollo has obtained 278 autonomous driving test licenses and continues to lead the industry. When the Q1 financial report was released, Baidu CEO Robin Li once said: \"With...</p><p><a href=\"https://mp.weixin.qq.com/s/wkn2TfEEB-H3Lk-SYCN34g\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/wkn2TfEEB-H3Lk-SYCN34g\"> 子弹财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/befe3645f6d03e00030d468357f2ceff","relate_stocks":{"09888":"百度集团-SW","BIDU":"百度"},"source_url":"https://mp.weixin.qq.com/s/wkn2TfEEB-H3Lk-SYCN34g","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118442405","content_text":"北京时间8月12日，百度发布了第二季度未经审计的财务报告。第二季度，百度实现营收314亿元，归属百度的净利润（非美国通用会计准则）54亿元，再超市场预期。其中，百度Apollo表现亮眼，测试里程方面，Apollo L4累计自动驾驶测试里程超1200万公里，同比增长152%。测试资质方面，百度Apollo已获得278张自动驾驶测试牌照，继续领跑行业。\nQ1财报发布时，百度CEO李彦宏曾表示：“随着人工智能的强劲增长，未来三年百度非广告收入将超过广告收入。”这背后，百度Apollo不仅是百度未来新的增长引擎，也是百度布局智能汽车行业的利器。\n2021年的智能汽车行业，新玩家仍在不断涌入，市场格局尚未稳定，判断谁能最终胜出还为时过早。但可以肯定的是，智能汽车行业即将加速进入淘汰赛的新格局，在关键业务具备硬核实力的玩家才能走到最后。\n1\n淘汰赛加速，\n未来到底有几张船票\n2021年，国内智能汽车市场呈现群雄逐鹿的态势。智能汽车行业将持续处在洗牌阶段，整体市场格局会加速进入淘汰赛，已经成为不少业内人士的共识。\n上半年，外强特斯拉不断刷新销量，对国内车企形成压力。国内，小米、滴滴等互联网巨头高调入局，来势汹汹。在政策和市场双重利好下，蔚来、理想、小鹏三家头部造车新势力销量和股价都创新高，继续稳坐第一梯队。\n百度和华为等大厂也是动作频频。1月，百度宣布正式组建智能汽车公司，以整车制造商的身份下场竞争；3月初，由百度和吉利组建的集度汽车有限公司正式成立；华为虽然不造整车，但也在加速布局，4月分别与北汽、广汽、长安成立三个汽车品牌。\n在新四化“电动化、智能化、网联化和共享化”的发展方向下，智能汽车成为移动的智能终端，其竞争逻辑可能类似智能手机的寡头市场，头部企业会占据绝大部分份额。\n据此前媒体报道，关于未来的预判，雷军认为10-20年后，智能电动汽车迎来竞争的终局时，可能只有5张最终的“船票”。而理想汽车联合创始人、总裁沈亚楠则认为，中国市场可能会由3家车企占据绝大部分市场份额。\n在那之前，行业将处于残酷的淘汰赛。如何抓住时间窗口加速布局和饱和攻击成为很多企业的战略。比如今年2月，理想汽车在内部信中公布了2025的战略：20%的（中国智能电动车）市场份额，成为中国第一的智能电动车企业。\n今年4月，百度集团资深副总裁、智能驾驶事业群总经理李震宇在2021上海车展透露，2021下半年百度Apollo自动驾驶将迎来量产高峰，每月会有一款新车上市，未来3-5年Apollo智驾产品预计前装量产搭载100万台。如果终局只有3-5张船票，想赢的终极玩家都必须全力以赴。从目前各家的速度来看，百度Apollo已经甩对手一个量级。\n自2017年推出以来，百度Apollo全面快速迭代，目前已经在自动驾驶、智能汽车、智能交通三大领域拥有业内领先的解决方案，在技术和生态方面的优势日益凸显。\n2\n长周期比拼，三大关键领域依靠硬核实力\nAI、5G等新技术重构了传统汽车产业价值链，并渗透到产品设计研发、制造与供应链、销售与市场、出行服务、用户交互应用等各个环节。但新技术并没有改变汽车产业长周期的属性，现在上市的车型至少要提前3年甚至更长时间开始研发。而且，目前上市的智能汽车产品和服务还远不是理想状态。造车是一个长周期、综合实力的比拼，其中有几大关键业务：自动驾驶、汽车智能化、智能交通，企业在这些方面的硬核实力决定着其能走多远。\n首当其冲的自动驾驶已经成为互联网巨头、造车新势力、传统车企的必争之地。提到自动驾驶，必然绕不开百度。目前，百度Apollo在自动驾驶测试里程、覆盖城市、商业化量产方面都是国内领先。\n截至目前，百度Apollo在全球近30个城市开放道路测试，测试总里程超过1200万公里，是全球唯一一家实现千万公里级路测积累的中国企业。在商业化落地方面，Apollo已在北京首钢园等区域实现了“无人车”常态化商业运营，是中国首个商业化无人车项目和首个开放运营的完全无人驾驶项目。截至2020年底，自动驾驶出行服务Apollo GO已接待乘客超过21万人次，2023年底Apollo GO无人车服务将开放至30个城市。\n今年6月，百度Apollo携手ARCFOX极狐发布第5代量产无人车Apollo Moon，其相较上一代车型能力有10倍提升，复杂城市道路送达成功率高达99.99%。更关键的是Apollo Moon的成本价为48万元，是行业L4级自动驾驶车型平均成本的三分之一。随着自动驾驶技术的快速进步和成本效益的提高， Apollo无人车将会比网约车更便宜，真正实现对出行行业的供给侧改革。\n\n图 / 百度Apollo新一代量产无人车Apollo Moon\n汽车智能化是软件定义汽车的关键，涵盖智能座舱、智能车云、智能驾驶、高精地图等智能化功能。目前，百度算是在汽车智能化方面优势比较全面的。百度Apollo推出软硬配套、乐高式的整车智能化解决方案，包括更智能、更可感的下一代智能座舱服务，以平台化方式开放领先能力、助力OEM的智能车云，加速自动驾驶商业化部署的智驾系列，以及拥有全域智驾地图产品体系的智图系列。\n目前，Apollo智舱与超过70家车企600款车型展开合作，小度车载OS已安装在超150万辆新车上，2021年Q1安装量较上一年增加超过一倍。智云产品能支持车企快速构建智能化能力，将原本需要至少7年才能完成的自动驾驶研发周期，缩短至6个月。\n智能交通是另一个关键赛道，与智慧城市密切相关，也是平台型企业的一大优势。今年7月，百度推出ACE智能交通引擎2.0，其采用“1+3+N”总架构，即“1”个数字底座，“3”个智能引擎，“N”个场景应用。目前，在智能网联、智慧交管、智慧高速、智慧停车等领域，百度先后有几十个项目在北京、上海、广州、重庆、成都等20余个城市以及河北、山西、四川、湖南等多条高速公路落地。\n可以看出，在自动驾驶、汽车智能化、智能交通三大领域，百度是国内为数不多的有实力全面发展的企业。百度Apollo既拥有业内领先的技术产品，也有大量商业落地方案。同时，将这些优势不断放大的还有另一个维度：生态能力。\n3\n马太效应的“胜出者”\n智能汽车时代，原来在车型、品牌之间的竞争将升级为生态系统之间的竞争。汽车产业链条长，不管是哪种类型的玩家，生态能力是基本功，也是终局幸存者的武器。\n外界看好小米造车的一个原因之一，就是小米生态链的发展已经非常成熟了，进军汽车行业也许可以借鉴生态链的打法，形成小米的汽车生态链企业。华为也是具有生态构建能力的平台型企业，目前已经有近30+车厂加入了华为的HiCar生态。\n在生态规模和活力方面，百度Apollo布局更早，成长更快。目前百度Apollo已经成长为全球最活跃的自动驾驶开放平台，拥有全球生态合作伙伴超过220家，汇聚全球开发者65000 名，开源代码数70万行。\n在自动驾驶、汽车智能化、智能交通三大关键业务上，百度还通过投资企业、深化合作完成细分领域的生态构建。比如在自动驾驶产业链中，百度投资了激光雷达公司Velodyne LiDAR和禾赛科技、视觉公司中科慧眼、造车新势力威马，构建起一个生态体系。\n在汽车智能化方面，Apollo与广汽、长城、威马等10家车企达成高精地图、自主泊车、领航辅助驾驶等汽车智能化服务。Apollo高精地图已蝉联市占率第一名多年，成为本田、广汽、长城、北汽、蔚来、威马等头部车企的选择。\n\n构建生态也是百度Apollo重要的商业模式。2021年5月18日，李彦宏在发给员工的财报信中指出，Apollo将发展出三种商业模式：第一，为主机厂商提供Apollo自动驾驶技术解决方案，助力车企快速搭建自动驾驶能力；第二，百度造车，端到端地整合百度自动驾驶方面的创新，把最先进的技术第一时间推向市场；第三，无人车。这三种模式都离不开强大的生态体系。\n经过4年迭代，百度Apollo的战略和商业化路径愈发清晰，自动驾驶、汽车智能化、智能交通这三级引擎将加速百度的AI商业化。今年2月初，日本三大投行之一的Mizuho瑞穗给予百度 Apollo400亿美元的估值评级。业内人士评价，百度Apollo已成为百度集团长期价值展现的最佳载体。\n2021年，智能汽车行业正在加速奔向淘汰赛。无论是传统车企、新能源车企，还是互联网巨头，必须拼尽全力才有机会在时间窗口内拿到船票。凭借在自动驾驶、智能汽车、智能交通三大领域的领先优势，百度Apollo已经展现出赢面。","news_type":1,"symbols_score_info":{"09888":0.9,"BIDU":0.9}},"isVote":1,"tweetType":1,"viewCount":551,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891113445,"gmtCreate":1628347597887,"gmtModify":1703505302290,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/891113445","repostId":"1186953205","repostType":4,"repost":{"id":"1186953205","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628337781,"share":"https://ttm.financial/m/news/1186953205?lang=en_US&edition=fundamental","pubTime":"2021-08-07 20:03","market":"us","language":"zh","title":"Berkshire's Q2 net profit was US $28.1 billion, a year-on-year increase of 7%","url":"https://stock-news.laohu8.com/highlight/detail?id=1186953205","media":"老虎资讯综合","summary":"8月7日讯，巴菲特旗下伯克希尔哈撒韦今日公布2021年第二季度财报。财报显示，第二季度归属伯克希尔哈撒韦公司的净利润为280.94亿美元，较去年同期的262.95亿美元增长7%；A类股每股收益为184","content":"<p>August 7 news, Buffett's subsidiary<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway announced its second quarter 2021 earnings today. The financial report shows that the second quarter vesting<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway's net profit was US $28.094 billion, an increase of 7% from US $26.295 billion in the same period last year; Earnings per share of Class A shares were US $18,488, compared with US $16,314 in the same period last year; Earnings per share for Class B shares were $12.33, compared to $10.88 in the same period last year.</p><p><img src=\"https://static.tigerbbs.com/203b37232c1b1b2ab478808a043fa3a0\" tg-width=\"645\" tg-height=\"778\" referrerpolicy=\"no-referrer\"></p><p><b>Key results for the second quarter:</b></p><p>Total revenue in the second quarter was US $69.114 billion, an increase of 22% from US $56.840 billion in the same period last year;</p><p>The net profit attributable to Berkshire Hathaway shareholders was US $28.094 billion, compared with US $26.295 billion in the same period last year;</p><p>Investment income was US $21.233 billion, compared with US $31.017 billion in the same period last year;</p><p>Derivatives gains were US $175 million, compared with derivatives losses of US $628 million in the same period last year;</p><p>Impairment of intangible assets was zero, compared with US $10.863 billion in the same period last year;</p><p>Operating profit was US $6.686 billion, compared with US $5.513 billion in the same period last year;</p><p>Earnings per share of Class A shares were US $18,488, compared with US $16,314 per share in the same period last year; Earnings per share of Class B shares were US $12.33, compared with US $10.88 per share in the same period last year;</p><p>Total costs and expenses in the second quarter were US $60.934 billion, down 1% from US $61.259 billion in the same period last year;</p><p>As of June 30, 2021, Berkshire Hathaway had a total of 1,519,576 Class A shares outstanding and 2,279,363,382 Class B shares outstanding;</p><p>In the second quarter, Berkshire Hathaway spent approximately US $6 billion to repurchase the company's shares, and the total repurchase in the first half of the year was approximately US $12.6 billion;</p><p>As of June 30, 2021, Berkshire Hathaway's insurance float was approximately US $142 billion, an increase of approximately US $4 billion from the end of 2020;</p><p>As of June 30, 2021, Berkshire's top four holdings are<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>、<a href=\"https://laohu8.com/S/AXP\">American Express</a>as well as<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>, the market values of the positions are US $124.3 billion, US $42.6 billion, US $25.1 billion and US $21.6 billion respectively.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Berkshire's Q2 net profit was US $28.1 billion, a year-on-year increase of 7%</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nBerkshire's Q2 net profit was US $28.1 billion, a year-on-year increase of 7%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-07 20:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>August 7 news, Buffett's subsidiary<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway announced its second quarter 2021 earnings today. The financial report shows that the second quarter vesting<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway's net profit was US $28.094 billion, an increase of 7% from US $26.295 billion in the same period last year; Earnings per share of Class A shares were US $18,488, compared with US $16,314 in the same period last year; Earnings per share for Class B shares were $12.33, compared to $10.88 in the same period last year.</p><p><img src=\"https://static.tigerbbs.com/203b37232c1b1b2ab478808a043fa3a0\" tg-width=\"645\" tg-height=\"778\" referrerpolicy=\"no-referrer\"></p><p><b>Key results for the second quarter:</b></p><p>Total revenue in the second quarter was US $69.114 billion, an increase of 22% from US $56.840 billion in the same period last year;</p><p>The net profit attributable to Berkshire Hathaway shareholders was US $28.094 billion, compared with US $26.295 billion in the same period last year;</p><p>Investment income was US $21.233 billion, compared with US $31.017 billion in the same period last year;</p><p>Derivatives gains were US $175 million, compared with derivatives losses of US $628 million in the same period last year;</p><p>Impairment of intangible assets was zero, compared with US $10.863 billion in the same period last year;</p><p>Operating profit was US $6.686 billion, compared with US $5.513 billion in the same period last year;</p><p>Earnings per share of Class A shares were US $18,488, compared with US $16,314 per share in the same period last year; Earnings per share of Class B shares were US $12.33, compared with US $10.88 per share in the same period last year;</p><p>Total costs and expenses in the second quarter were US $60.934 billion, down 1% from US $61.259 billion in the same period last year;</p><p>As of June 30, 2021, Berkshire Hathaway had a total of 1,519,576 Class A shares outstanding and 2,279,363,382 Class B shares outstanding;</p><p>In the second quarter, Berkshire Hathaway spent approximately US $6 billion to repurchase the company's shares, and the total repurchase in the first half of the year was approximately US $12.6 billion;</p><p>As of June 30, 2021, Berkshire Hathaway's insurance float was approximately US $142 billion, an increase of approximately US $4 billion from the end of 2020;</p><p>As of June 30, 2021, Berkshire's top four holdings are<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>、<a href=\"https://laohu8.com/S/AXP\">American Express</a>as well as<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>, the market values of the positions are US $124.3 billion, US $42.6 billion, US $25.1 billion and US $21.6 billion respectively.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6a8642475395bb363eacb86148917e7b","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186953205","content_text":"8月7日讯，巴菲特旗下伯克希尔哈撒韦今日公布2021年第二季度财报。财报显示，第二季度归属伯克希尔哈撒韦公司的净利润为280.94亿美元，较去年同期的262.95亿美元增长7%；A类股每股收益为18488美元，相比较而言去年同期为16314美元；B类股每股收益为12.33美元，相比较而言去年同期为10.88美元。\n\n第二季度主要业绩：\n第二季度总营收为691.14亿美元，较去年同期的568.40亿美元增长22%；\n归属伯克希尔哈撒韦股东的净利润为280.94亿美元，相比之下上年同期净利润为262.95亿美元；\n投资收益为212.33亿美元，相比之下上年同期投资收益为310.17亿美元；\n衍生品收益为1.75亿美元，相比之下上年同期衍生品亏损为6.28亿美元；\n无形资产减损为零，上年同期为108.63亿美元；\n运营利润66.86亿美元，相比之下上年同期为55.13亿美元；\nA类股每股收益18488美元，上年同期每股收益16314美元；B类股每股收益12.33美元，上年同期每股收益10.88美元；\n第二季度总成本和支出为609.34亿美元，较去年同期的612.59亿美元下滑1%；\n截至2021年6月30日，伯克希尔哈撒韦的A类流通股总数为1,519,576股，B类流通股总数为2,279,363,382股；\n第二季度，伯克希尔哈撒韦动用大约60亿美元回购公司股票，上半年回购总额约为126亿美元；\n截至2021年6月30日，伯克希尔哈撒韦的保险浮动金约为1420亿美元，较2020年底增长约40亿美元；\n截止2021年6月30日，伯克希尔前四大持仓股分别为苹果、美国银行、美国运通以及可口可乐，持仓市值分别为1243亿美元、426亿美元、251亿美元和216亿美元。","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":379,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882670752,"gmtCreate":1631691240476,"gmtModify":1676530609877,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/882670752","repostId":"2167561207","repostType":4,"repost":{"id":"2167561207","kind":"highlight","pubTimestamp":1631691004,"share":"https://ttm.financial/m/news/2167561207?lang=en_US&edition=fundamental","pubTime":"2021-09-15 15:30","market":"us","language":"zh","title":"iPhone13 evolves normally, targeting the replacement needs of 1 billion people","url":"https://stock-news.laohu8.com/highlight/detail?id=2167561207","media":"日经中文网","summary":"美国苹果9月14日发布iPhone13，提高摄像头和电池性能等沿袭了近年来的“正常进化”。手机市场已经成熟，放弃其他厂商产品改用苹果的用户很少。苹果在通过有计划的改进功能推动10亿iPhone用户更换","content":"<p>America<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The iPhone 13 was released on September 14, and the improvement of camera and battery performance followed the \"normal evolution\" in recent years. The mobile phone market has matured, and few users have abandoned other manufacturers' products and switched to Apple. Apple's strategy of maintaining growth by increasing the sales of watch-type terminals such as Apple Watch while promoting 1 billion iPhone users to replace new phones through planned improvements has been further highlighted.</p><p>One of the new features that has become the selling point of iPhone13 is the \"movie mode\" that can shoot videos with depth like movies. Artificial intelligence (AI) captures the face orientation of the person and automatically focuses, while subsequently modifying the focus of the captured video.</p><p><img src=\"https://static.tigerbbs.com/cb22962b66fa657cfc65655a25afa2ce\" tg-width=\"600\" tg-height=\"449\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Cook confidently called the iPhone 13 series \"the best iPhone\"</p><p>With the popularity of photo and video sharing websites such as Instagram and YouTube, mobile phones have become a tool for consumers to watch images, shoot and edit them independently. The evolution shown by iPhone13 accurately reflects this consumption trend.</p><p>However, the design of the hardware has hardly changed. Compared with existing models, most of the improvements are basic improvements such as extending battery standby time and increasing storage capacity. Some models are not equipped with satellite communication functions rumored beforehand. From the domestic price point of view in the United States, all models are the same as existing models, and the main iPhone 13 is set at a minimum of US $799 (the price in China starts from 5,999 yuan).</p><p>Some analysts believe that the seemingly unpretentious commodity strategy is also based on detailed marketing plans. BlinkAI of the United States, which is engaged in the development of camera technology, conducted a survey on iPhone users and asked in a multi-choice form, \"Which new features have become the motivation for upgrading?\" As a result, \"battery standby time\" ranked first with 72%.</p><p><img src=\"https://static.tigerbbs.com/6198c2b927df50fb4d905d8cce77b2f9\" tg-width=\"450\" tg-height=\"281\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"Storage capacity\" is 49%, and \"high-definition photos and camera functions\" is 43%. Apple's \"12 Series\" launched in 2020 advertised \"5G support\" with great fanfare at only 32%. Fourteen years have passed since the first generation iPhone went on the market. Under the background of the increasingly mature mobile phone market, consumers no longer pay attention to new features, but pay attention to basic performance related to daily ease of use.</p><p>Global mobile phone supply peaked in 2016 and maintained a decreasing trend. The number of traditional mobile phone users known as \"feature phones\" switching to smart phones has also decreased, and users who upgrade from old phones to new ones have become the center.</p><p>BlinkAI's survey shows that 34% of iPhone users answered that the current model has been used continuously for more than three years. Apple pursues the high-end route of increasing the unit price. As a result, the price of high-end models began to exceed $1,000, making it increasingly difficult for consumers to replace them with new ones.</p><p><img src=\"https://static.tigerbbs.com/ff476709cb2176c97a0271ee6c8e95ca\" tg-width=\"450\" tg-height=\"344\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>If you change your thinking, you will find that the biggest factor hindering the sales increase of the latest iPhone models is not the mobile phones of other manufacturers, but the old iPhone models. Apple has launched a discount for the iPhone 13. If users trade in their current mobile phones for new ones, they can enjoy a deduction of up to about US $700, stimulating the demand for replacement.</p><p>At its peak, more than 70% of Apple's overall operating income came from the iPhone. With the saturation of the mobile phone market, it is now less than 50%. On the other hand, the combined operating income of peripheral departments such as Watch and service departments such as music and online video has reached more than 30% of the total, and Apple's profit sources have become scattered.</p><p>As COVID-19 pandemic increases the demand for home stays, more than 50% of customers are new customers from the perspective of tablet iPad and personal computer Mac. Apple also released a new iPad on September 14th. The price in the United States is set at a moderate $329 (the price in China starts at 2,499 yuan), which expands the consumer base.</p><p>At the product launch conference on September 14th, slogans such as \"50% speed up\" and \"the highest level in the industry\" were prominent when the executives in charge of each product explained the products. These comparisons with previous products and other manufacturers' products rarely appeared in the era when founder Steve Jobs was in power.</p><p>Apple's Chief Executive Officer (CEO) Tim Cook said confidently about the iPhone 13 series, \"This is the best iPhone we have ever built\". However, in the US market on the 14th, Apple's share price once fell 2% from the previous day's closing price. Consumers and stocks seem to be looking forward to Apple's next move.</p>","source":"lsy1592968752908","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>iPhone13 evolves normally, targeting the replacement needs of 1 billion people</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\">\niPhone13 evolves normally, targeting the replacement needs of 1 billion people\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">日经中文网</strong><span class=\"h-time small\">2021-09-15 15:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>America<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The iPhone 13 was released on September 14, and the improvement of camera and battery performance followed the \"normal evolution\" in recent years. The mobile phone market has matured, and few users have abandoned other manufacturers' products and switched to Apple. Apple's strategy of maintaining growth by increasing the sales of watch-type terminals such as Apple Watch while promoting 1 billion iPhone users to replace new phones through planned improvements has been further highlighted.</p><p>One of the new features that has become the selling point of iPhone13 is the \"movie mode\" that can shoot videos with depth like movies. Artificial intelligence (AI) captures the face orientation of the person and automatically focuses, while subsequently modifying the focus of the captured video.</p><p><img src=\"https://static.tigerbbs.com/cb22962b66fa657cfc65655a25afa2ce\" tg-width=\"600\" tg-height=\"449\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Cook confidently called the iPhone 13 series \"the best iPhone\"</p><p>With the popularity of photo and video sharing websites such as Instagram and YouTube, mobile phones have become a tool for consumers to watch images, shoot and edit them independently. The evolution shown by iPhone13 accurately reflects this consumption trend.</p><p>However, the design of the hardware has hardly changed. Compared with existing models, most of the improvements are basic improvements such as extending battery standby time and increasing storage capacity. Some models are not equipped with satellite communication functions rumored beforehand. From the domestic price point of view in the United States, all models are the same as existing models, and the main iPhone 13 is set at a minimum of US $799 (the price in China starts from 5,999 yuan).</p><p>Some analysts believe that the seemingly unpretentious commodity strategy is also based on detailed marketing plans. BlinkAI of the United States, which is engaged in the development of camera technology, conducted a survey on iPhone users and asked in a multi-choice form, \"Which new features have become the motivation for upgrading?\" As a result, \"battery standby time\" ranked first with 72%.</p><p><img src=\"https://static.tigerbbs.com/6198c2b927df50fb4d905d8cce77b2f9\" tg-width=\"450\" tg-height=\"281\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"Storage capacity\" is 49%, and \"high-definition photos and camera functions\" is 43%. Apple's \"12 Series\" launched in 2020 advertised \"5G support\" with great fanfare at only 32%. Fourteen years have passed since the first generation iPhone went on the market. Under the background of the increasingly mature mobile phone market, consumers no longer pay attention to new features, but pay attention to basic performance related to daily ease of use.</p><p>Global mobile phone supply peaked in 2016 and maintained a decreasing trend. The number of traditional mobile phone users known as \"feature phones\" switching to smart phones has also decreased, and users who upgrade from old phones to new ones have become the center.</p><p>BlinkAI's survey shows that 34% of iPhone users answered that the current model has been used continuously for more than three years. Apple pursues the high-end route of increasing the unit price. As a result, the price of high-end models began to exceed $1,000, making it increasingly difficult for consumers to replace them with new ones.</p><p><img src=\"https://static.tigerbbs.com/ff476709cb2176c97a0271ee6c8e95ca\" tg-width=\"450\" tg-height=\"344\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>If you change your thinking, you will find that the biggest factor hindering the sales increase of the latest iPhone models is not the mobile phones of other manufacturers, but the old iPhone models. Apple has launched a discount for the iPhone 13. If users trade in their current mobile phones for new ones, they can enjoy a deduction of up to about US $700, stimulating the demand for replacement.</p><p>At its peak, more than 70% of Apple's overall operating income came from the iPhone. With the saturation of the mobile phone market, it is now less than 50%. On the other hand, the combined operating income of peripheral departments such as Watch and service departments such as music and online video has reached more than 30% of the total, and Apple's profit sources have become scattered.</p><p>As COVID-19 pandemic increases the demand for home stays, more than 50% of customers are new customers from the perspective of tablet iPad and personal computer Mac. Apple also released a new iPad on September 14th. The price in the United States is set at a moderate $329 (the price in China starts at 2,499 yuan), which expands the consumer base.</p><p>At the product launch conference on September 14th, slogans such as \"50% speed up\" and \"the highest level in the industry\" were prominent when the executives in charge of each product explained the products. These comparisons with previous products and other manufacturers' products rarely appeared in the era when founder Steve Jobs was in power.</p><p>Apple's Chief Executive Officer (CEO) Tim Cook said confidently about the iPhone 13 series, \"This is the best iPhone we have ever built\". However, in the US market on the 14th, Apple's share price once fell 2% from the previous day's closing price. Consumers and stocks seem to be looking forward to Apple's next move.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1399277836499716\">日经中文网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d74793caf6cedd95061ea268ab811c20","relate_stocks":{"AAPL":"苹果"},"source_url":"https://36kr.com/p/1399277836499716","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167561207","content_text":"美国苹果9月14日发布iPhone13，提高摄像头和电池性能等沿袭了近年来的“正常进化”。手机市场已经成熟，放弃其他厂商产品改用苹果的用户很少。苹果在通过有计划的改进功能推动10亿iPhone用户更换新机的同时、通过增加手表型终端Apple Watch等的销售来维持增长的战略进一步凸显。\n成为iPhone13卖点的新功能之一是能拍摄像电影那样具有纵深的视频的“电影模式”。由人工智能（AI）捕捉人物面部朝向并自动对焦，同时能在随后修改已拍摄视频的焦点。\n\n库克把iPhone13系列充满自信地称为“最棒的iPhone”\n随着Instagram、YouTube等照片与视频分享网站的普及，手机已成为消费者观看影像、自主拍摄和编辑的工具。iPhone13显示出的进化准确体现出这种消费趋势。\n不过，硬件的设计几乎没有变化，与现有机型相比，大多数改进是延长电池待机时间、增加存储容量等基本改进。部分机型并未搭载事前传言的卫星通信功能等。从美国国内的价格来看，所有机型均与现有机型相同，主力的iPhone13定为最低799美元（中国价格5999元起）。\n有分析认为，看起来朴实无华的商品战略也是基于详尽的营销计划。从事摄像头技术开发的美国BlinkAI以iPhone用户为对象实施调查，以多选形式询问“哪些新功能成为更新换代的动机？”结果“电池待机时长”以72％排在首位。\n\n“存储容量大小”为49％，“高画质照片和摄像功能”为43％。苹果2020年上市的“12系列”大张旗鼓宣传的“支持5G”仅为32％。自第一代iPhone上市已过去14年，在手机市场日益成熟的背景下，消费者不再重视全新功能，而重视关系到日常易用性的基本性能。\n全球手机供货量以2016年为顶峰，维持减少态势。被称为“功能机”的传统手机用户改用智能手机的情况也减少，从老旧手机升级为新款的用户成为中心。\nBlinkAI的调查显示，iPhone用户中回答现在使用的机型连续用了3年以上的比例达到34％。苹果追求提高单价的高端化路线，结果高端机型的价格开始超过1000美元，消费者越来越难以换新机。\n\n如果改变思路会发现，阻碍iPhone最新机型销售增加的最大因素并非其他厂商的手机，而是iPhone的老机型。苹果针对iPhone13推出优惠，如果用户把现在使用的手机以旧换新，能享受最多约700美元抵扣，刺激更新换代需求。\n在顶峰时期，苹果整体营业收入的超过7成来自iPhone。随着手机市场的饱和，目前已低于5成。另一方面，Watch等外设部门、音乐与在线视频等服务部门加起来的营业收入达到整体的3成以上，苹果的盈利来源变得分散。\n由于新冠疫情使居家需求增加，从平板电脑iPad和个人电脑Mac来看，逾5成客户属于新增客户。苹果9月14日还发布了新款iPad，在美国的价格定为适中的329美元（中国价格2499元起），扩大了消费者的群体。\n在9月14日的产品发布会上，各产品负责高管说明产品时“提速50％”、“行业最高水平”等宣传口号突出。这些与此前产品和其他厂商产品比较的措辞在创始人史蒂夫·乔布斯掌权的时代很少出现。\n苹果的首席执行官（CEO）蒂姆·库克针对iPhone13系列充满自信地表示，“这是我们迄今为止造出的最棒的iPhone”。但在14日的美国市场，苹果股价一度比前一日收盘价下跌2％。消费者和股市看起来正在盼望苹果的下一步行动。","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888163379,"gmtCreate":1631457651391,"gmtModify":1676530551048,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/888163379","repostId":"1198332081","repostType":4,"repost":{"id":"1198332081","kind":"news","pubTimestamp":1631437022,"share":"https://ttm.financial/m/news/1198332081?lang=en_US&edition=fundamental","pubTime":"2021-09-12 16:57","market":"sh","language":"zh","title":"Industrial Securities Strategy: Let a hundred flowers bloom and perform as scheduled, and the market accelerates","url":"https://stock-news.laohu8.com/highlight/detail?id=1198332081","media":"尧望后势","summary":"核心观点\n回顾：2021年4月以来，我们看多市场，布局“百周年”行情，板块配置上强调科创长牛，科创板行情。此后近半年，创业板指、科创板等新兴成长方向持续领涨。7月中旬开始，我们前瞻提示“夏日避暑”、“","content":"<p><b>CORE POINT</b></p><p><b>Review:</b>Since April 2021, we have been bullish on the market and laid out the \"centenary\" market. The sector allocation emphasizes the long-term growth of science and technology innovation and the market of science and technology innovation board. Since then, in the past six months, emerging growth directions such as the GEM Index and the Science and Technology Innovation Board have continued to lead the rise. Starting from mid-July, we prompted \"summer escape\" and \"science and technology innovation has entered a bumpy layout period\". After that, the market fluctuated, differentiated, and spread as scheduled. Since August, we have repeatedly emphasized that \"there is no systemic risk\" and \"the market will enter a hundred flowers blooming\". At present, a hundred flowers bloom as scheduled.</p><p><b>Outlook: After the \"summer vacation\" and \"bumpy period\", a hundred flowers will bloom as scheduled. The A-share market is accelerating, and risk appetite continues to increase. For transactional players, it is recommended to grasp the poor expectations and flexibly grasp the structural hot spots. For configuration-oriented players, it is recommended to continue to focus on the long-term and actively deploy around the general direction of science and technology innovation and the new needs driven by it.</b></p><p><b>After the \"summer summer\" and \"bumpy period\", a hundred flowers bloom and perform as scheduled.</b>In the second quarter, the market continued to focus on high-prosperity tracks such as new energy, semiconductors, military industry, and science and technology innovation, which brought about a trend rise in related sectors and a concentrated inflow of funds. Its transaction congestion also reached a record high in July. Therefore, we put forward \"avoiding summer heat and preventing overheating in summer\" and judged that funds will gradually spread and spill over from these sectors. In July and August, when the market fluctuated greatly and investors were most worried, we repeatedly stressed that the current market is not in 2018 and there are no systemic risks. Stock funds will not systematically reduce positions, but will surge back and forth in various sectors, leading the market into a hundred flowers blooming. At present, the hot spots in the market are spreading, various sectors are taking turns to rise, and a hundred flowers are blooming as scheduled: whether it is resource products such as coal, nonferrous metals, and steel, or large-cap blue-chips such as infrastructure and real estate, or high-β sectors such as brokerages, as well as small-cap indexes such as CSI 1000, and even the consumer sector that has been impacted by policies and has been adjusted more since the beginning of the year, has performed well, and Hong Kong stocks have also rebounded from the bottom area.</p><p><b>The A-share market is accelerating, and risk appetite continues to increase.</b>With a hundred flowers blooming, the market has emerged from the turbulent period. As the negative impact in the early stage further subsides and the superimposed policy easing continues to increase, A-shares have moved from first suppression to then rise: 1) The currency has been loose, and subsequent fiscal and credit efforts are also expected to exert strength, and the direction of policy easing is clear. On September 6th, Vice Premier Liu He said that \"infrastructure construction should be moderately advanced\". On September 7, Pan Gongsheng, deputy governor of the central bank, said that China's monetary policy is still in the normalized monetary policy range, and there is relatively large room for monetary policy. On September 9, according to the deployment of the State Council, the central bank announced that it would increase the small refinancing amount of 300 billion yuan, which would be issued at preferential interest rates within the remaining four months of this year. 2) There are no systemic risks overseas. The Federal Reserve expects relatively sufficient guidance, the market's concerns about Taper have basically eased, and the United States is expected to have at least US $550 billion in infrastructure plans in the fourth quarter. In Europe, although the European Central Bank announced on September 10 that it would slow down the pace of PEPP bond purchases in the fourth quarter, it will still maintain the potential scale of 1.85 trillion euros unchanged. 3) At the time point, with the completion of the disclosure of the interim report, the current market has once again entered a performance window period, and the expectation of policy relaxation is superimposed, and the market risk appetite is increasing. At the same time, last week, President Xi had a phone call with US President Biden at request, which is also conducive to increasing the risk appetite of foreign investors for Chinese assets.</p><p><b>For trading players, in a market where a hundred flowers bloom, it is recommended to seize the poor expectations and flexibly grasp the structural hot spots. For configuration-oriented players, it is recommended to continue to focus on the long-term and actively deploy around the general direction of science and technology innovation and the new needs driven by it:</b>1) Science and technology innovation is in the ascendant, taking advantage of the bumps behind the \"top of the bottom\" to lay out long-term cost-effective \"small and beautiful\", \"specialized, special and new\" and \"little giants\" of science and technology innovation. The \"hard technology\" attribute it represents can best adapt to the current background of the Sino-US game, the urgent need to improve technological competitiveness, and get rid of the \"stuck neck\" dilemma. At the same time, the capital aspect has changed from incremental entry to stock game. The era of \"mindless buying leaders\" has passed, and the market aesthetics is shifting from ROE to G. High growth rate and high prosperity will become the core of institutional aesthetics. \"Specialization\" \"Jing, special and new\" and the Science and Technology Innovation Board, as the sectors with the highest growth rate in the entire market, will become the preferred directions to overcome \"involution\". 2) With the spread of the scientific and technological innovation market, traditional fields such as cyclical industries that can embrace manufacturing upgrades, technology, and dual-carbon era are also facing revaluation in valuation and profitability. Focus on steel, aluminum, copper, chemicals, cement, securities companies and other sectors that serve the needs of scientific and technological innovation, have new α logic, and embrace new technological empowerment. 3) In those areas where fundamentals are not very bright, lay out assets that will turn around in the second half of the year in advance, and steadily grow in the direction of \"new infrastructure\", including small household appliances, automobiles, machinery, and leaders in consumer segments.</p><p><b>Investment strategy: Embrace the long-term, embrace the general direction, and use the long to fight the short. Continue to lay out the core main line of high-quality growth represented by \"specialization, specialization and innovation\" and \"little giant\" of science and technology innovation on dips.</b>1) High-end manufacturing (semiconductor industry chain, military industry chain, etc.) New energy chain (new energy materials, lithium battery equipment, new energy vehicle industry chain,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Driving, etc.), 3) AIoT (computers, communications, electronics), 4) life sciences (biomedicine, medical devices, medical services, seeds, etc.).</p><p><b>Risk warning:</b>Pay attention to the global capital return to the United States exceeding expectations, and the Sino-US game exceeding expectations.</p><p><b>Report text</b></p><p><b>Let a hundred flowers bloom and perform as scheduled, and the market accelerates</b></p><p><b>Review:</b>Since April 2021, we have been bullish on the market and laid out the \"centenary\" market. The sector allocation emphasizes the long-term growth of science and technology innovation and the market of science and technology innovation board. Since then, in the past six months, emerging growth directions such as the GEM Index and the Science and Technology Innovation Board have continued to lead the rise. Starting from mid-July, we prompted \"summer escape\" and \"science and technology innovation has entered a bumpy layout period\". After that, the market fluctuated, differentiated, and spread as scheduled. Since August, we have repeatedly emphasized that \"there is no systemic risk\" and \"the market will enter a hundred flowers blooming\". At present, a hundred flowers bloom as scheduled.</p><p><b>Outlook: After the \"summer vacation\" and \"bumpy period\", a hundred flowers will bloom as scheduled. The A-share market is accelerating, and risk appetite continues to increase. For transactional players, it is recommended to grasp the poor expectations and flexibly grasp the structural hot spots. For configuration-oriented players, it is recommended to continue to focus on the long-term and actively deploy around the general direction of science and technology innovation and the new needs driven by it.</b></p><p><b>--After \"summer vacation\" and \"bumpy period\", a hundred flowers bloom and perform as scheduled.</b>In the second quarter, the market continued to focus on high-prosperity tracks such as new energy, semiconductors, military industry, and science and technology innovation, which brought about a trend rise in related sectors and a concentrated inflow of funds. Its transaction congestion also reached a record high in July. Therefore, we put forward \"avoiding summer heat and preventing overheating in summer\" and judged that funds will gradually spread and spill over from these sectors. In July and August, when the market fluctuated greatly and investors were most worried, we repeatedly stressed that the current market is not in 2018 and there are no systemic risks. Stock funds will not systematically reduce positions, but will surge back and forth in various sectors, leading the market into a hundred flowers blooming. At present, the hot spots in the market are spreading, various sectors are taking turns to rise, and a hundred flowers are blooming as scheduled: whether it is resource products such as coal, nonferrous metals, and steel, or large-cap blue-chips such as infrastructure and real estate, or high-β sectors such as brokerages, as well as small-cap indexes such as CSI 1000, and even the consumer sector that has been impacted by policies and has been adjusted more since the beginning of the year, has performed well, and Hong Kong stocks have also rebounded from the bottom area.</p><p><b>--The A-share market has accelerated, and risk appetite has continued to increase.</b>With a hundred flowers blooming, the market has emerged from the turbulent period. As the negative impact in the early stage further subsides and the superimposed policy easing continues to increase, A-shares have moved from first suppression to then rise: 1) Money has been loose, and subsequent fiscal and credit efforts are also expected to exert their strength, and the direction of policy easing is clear. On September 6th, Vice Premier Liu He said that \"infrastructure construction should be moderately advanced\". On September 7, Pan Gongsheng, deputy governor of the central bank, said that China's monetary policy is still in the normalized monetary policy range, and the monetary policy space is relatively large. On September 9, in accordance with the deployment of the National Standing Committee, the central bank announced an additional 300 billion yuan of small refinancing quota, which will be issued at preferential interest rates within the remaining four months of this year. 2) There are no systemic risks overseas. The Federal Reserve expects relatively sufficient guidance, the market's concerns about Taper have basically eased, and the United States is expected to have at least US $550 billion in infrastructure plans in the fourth quarter. In Europe, although the European Central Bank announced on September 10 that it would slow down the pace of PEPP bond purchases in the fourth quarter, it will still maintain the potential scale of 1.85 trillion euros unchanged. 3) At the time point, with the completion of the disclosure of the interim report, the current market has once again entered a performance window period, and the expectation of policy relaxation is superimposed, and the market risk appetite is increasing. At the same time, President Xi had a phone call with US President Biden last week at request, which is also conducive to increasing the risk appetite of foreign investors for Chinese assets.</p><p><b>--For trading players, in a market where a hundred flowers bloom, it is recommended to seize the poor expectations and flexibly grasp the structural hot spots. For configuration-oriented players, it is recommended to continue to base themselves on the long-term and actively deploy around the general direction of science and technology innovation and the new needs driven by it:</b>1) Science and technology innovation is in the ascendant, taking advantage of the bumps behind the \"top of the bottom\" to lay out long-term cost-effective \"small and beautiful\", \"specialized, special and new\" and \"little giants\" of science and technology innovation. The \"hard technology\" attribute it represents can best adapt to the current background of the Sino-US game, the urgent need to improve technological competitiveness, and get rid of the \"stuck neck\" dilemma. At the same time, the capital aspect has changed from incremental entry to stock game. The era of \"mindless buying leaders\" has passed, and the market aesthetics is shifting from ROE to G. High growth rate and high prosperity will become the core of institutional aesthetics. \"Specialization\" \"Jing, special and new\" and the Science and Technology Innovation Board, as the sectors with the highest growth rate in the entire market, will become the preferred directions to overcome \"involution\". 2) With the spread of the scientific and technological innovation market, traditional fields such as cyclical industries that can embrace manufacturing upgrades, technology, and dual-carbon era are also facing revaluation in valuation and profitability. Focus on steel, aluminum, copper, chemicals, cement, securities companies and other sectors that serve the needs of scientific and technological innovation, have new α logic, and embrace new technological empowerment. 3) In those areas where fundamentals are not very bright, lay out assets that will turn around in the second half of the year in advance, and steadily grow in the direction of \"new infrastructure\", including small household appliances, automobiles, machinery, and leaders in consumer segments.</p><p><b>--Investment strategy: embrace the long-term, embrace the general direction, and use the long to fight the short. Continue to lay out the core main line of high-quality growth represented by \"specialization, specialization and innovation\" and \"little giant\" of science and technology innovation on dips.</b>1) High-end manufacturing (semiconductor industry chain, military industry chain, etc.), 2) New energy chain (new energy materials, lithium battery equipment, new energy vehicle industry chain, intelligent driving, etc.), 3) AIoT (computers, communications, electronics, 4) Life sciences (biomedicine, medical devices, medical services, seeds, etc.).</p><p><b>A-share market review this week</b></p><p><img src=\"https://static.tigerbbs.com/13071928fe3eeb6151dd5ce85bc6c855\" tg-width=\"1080\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/69ba9b865b341e29205bbb6185a02cbc\" tg-width=\"1080\" tg-height=\"406\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/50eb477d5780e2d8336af02294a958b1\" tg-width=\"1080\" tg-height=\"464\" referrerpolicy=\"no-referrer\"></p><p><b>A-share capital tracking</b></p><p><img src=\"https://static.tigerbbs.com/f33f9f6887e315296989199286714530\" tg-width=\"1080\" tg-height=\"384\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/71dfe6b49cefe41574a2536cb10f5c76\" tg-width=\"1080\" tg-height=\"398\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a6ea75c24764a8265c984bb443603886\" tg-width=\"1080\" tg-height=\"418\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a5d294ded9d090e98cbcaf4388165aab\" tg-width=\"1080\" tg-height=\"413\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/247f4082b8df088496f39cd90650f750\" tg-width=\"1080\" tg-height=\"428\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/474c012d2d5eb83e71126cefcbae1004\" tg-width=\"1080\" tg-height=\"419\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/59adf5d792210fc726493a9861df8ab7\" tg-width=\"1080\" tg-height=\"421\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/bb2a7d4758017515b7167b8c82cf0c75\" tg-width=\"1080\" tg-height=\"455\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/60af3d869f451c91dbfd98cf111af778\" tg-width=\"1080\" tg-height=\"419\" referrerpolicy=\"no-referrer\"></p><p><b>A-share earnings and valuation</b></p><p><img src=\"https://static.tigerbbs.com/904398a8e2d5c55af5fc7cdbb22cb485\" tg-width=\"1080\" tg-height=\"434\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/c200d190f7e6d85bb50b1cbce1558bd6\" tg-width=\"1080\" tg-height=\"434\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/709795eb203c094f43d766f3ce9acef5\" tg-width=\"1080\" tg-height=\"476\" referrerpolicy=\"no-referrer\"></p><p><b>Overseas market tracking</b></p><p><img src=\"https://static.tigerbbs.com/33936cc9cfcb6aae21cfd24bc13bebef\" tg-width=\"1080\" tg-height=\"378\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a396dc75e119b4f7f05cfc27d3270440\" tg-width=\"1080\" tg-height=\"446\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/6fc496e65ba7e0aec1dcf90e417cf750\" tg-width=\"1080\" tg-height=\"420\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ee9e81e6df73399f2375e00440fc8cd2\" tg-width=\"1080\" tg-height=\"448\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/054f9b313e1bb6999ea74c6b36b4eb79\" tg-width=\"1080\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><b>Risk warning</b></p><p><b>Pay attention to the global capital return to the United States exceeding expectations, and the Sino-US game exceeding expectations.</b></p>","source":"ywhs","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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The sector allocation emphasizes the long-term growth of science and technology innovation and the market of science and technology innovation board. Since then, in the past six months, emerging growth directions such as the GEM Index and the Science and Technology Innovation Board have continued to lead the rise. Starting from mid-July, we prompted \"summer escape\" and \"science and technology innovation has entered a bumpy layout period\". After that, the market fluctuated, differentiated, and spread as scheduled. Since August, we have repeatedly emphasized that \"there is no systemic risk\" and \"the market will enter a hundred flowers blooming\". At present, a hundred flowers bloom as scheduled.</p><p><b>Outlook: After the \"summer vacation\" and \"bumpy period\", a hundred flowers will bloom as scheduled. The A-share market is accelerating, and risk appetite continues to increase. For transactional players, it is recommended to grasp the poor expectations and flexibly grasp the structural hot spots. For configuration-oriented players, it is recommended to continue to focus on the long-term and actively deploy around the general direction of science and technology innovation and the new needs driven by it.</b></p><p><b>After the \"summer summer\" and \"bumpy period\", a hundred flowers bloom and perform as scheduled.</b>In the second quarter, the market continued to focus on high-prosperity tracks such as new energy, semiconductors, military industry, and science and technology innovation, which brought about a trend rise in related sectors and a concentrated inflow of funds. Its transaction congestion also reached a record high in July. Therefore, we put forward \"avoiding summer heat and preventing overheating in summer\" and judged that funds will gradually spread and spill over from these sectors. In July and August, when the market fluctuated greatly and investors were most worried, we repeatedly stressed that the current market is not in 2018 and there are no systemic risks. Stock funds will not systematically reduce positions, but will surge back and forth in various sectors, leading the market into a hundred flowers blooming. At present, the hot spots in the market are spreading, various sectors are taking turns to rise, and a hundred flowers are blooming as scheduled: whether it is resource products such as coal, nonferrous metals, and steel, or large-cap blue-chips such as infrastructure and real estate, or high-β sectors such as brokerages, as well as small-cap indexes such as CSI 1000, and even the consumer sector that has been impacted by policies and has been adjusted more since the beginning of the year, has performed well, and Hong Kong stocks have also rebounded from the bottom area.</p><p><b>The A-share market is accelerating, and risk appetite continues to increase.</b>With a hundred flowers blooming, the market has emerged from the turbulent period. As the negative impact in the early stage further subsides and the superimposed policy easing continues to increase, A-shares have moved from first suppression to then rise: 1) The currency has been loose, and subsequent fiscal and credit efforts are also expected to exert strength, and the direction of policy easing is clear. On September 6th, Vice Premier Liu He said that \"infrastructure construction should be moderately advanced\". On September 7, Pan Gongsheng, deputy governor of the central bank, said that China's monetary policy is still in the normalized monetary policy range, and there is relatively large room for monetary policy. On September 9, according to the deployment of the State Council, the central bank announced that it would increase the small refinancing amount of 300 billion yuan, which would be issued at preferential interest rates within the remaining four months of this year. 2) There are no systemic risks overseas. The Federal Reserve expects relatively sufficient guidance, the market's concerns about Taper have basically eased, and the United States is expected to have at least US $550 billion in infrastructure plans in the fourth quarter. In Europe, although the European Central Bank announced on September 10 that it would slow down the pace of PEPP bond purchases in the fourth quarter, it will still maintain the potential scale of 1.85 trillion euros unchanged. 3) At the time point, with the completion of the disclosure of the interim report, the current market has once again entered a performance window period, and the expectation of policy relaxation is superimposed, and the market risk appetite is increasing. At the same time, last week, President Xi had a phone call with US President Biden at request, which is also conducive to increasing the risk appetite of foreign investors for Chinese assets.</p><p><b>For trading players, in a market where a hundred flowers bloom, it is recommended to seize the poor expectations and flexibly grasp the structural hot spots. For configuration-oriented players, it is recommended to continue to focus on the long-term and actively deploy around the general direction of science and technology innovation and the new needs driven by it:</b>1) Science and technology innovation is in the ascendant, taking advantage of the bumps behind the \"top of the bottom\" to lay out long-term cost-effective \"small and beautiful\", \"specialized, special and new\" and \"little giants\" of science and technology innovation. The \"hard technology\" attribute it represents can best adapt to the current background of the Sino-US game, the urgent need to improve technological competitiveness, and get rid of the \"stuck neck\" dilemma. At the same time, the capital aspect has changed from incremental entry to stock game. The era of \"mindless buying leaders\" has passed, and the market aesthetics is shifting from ROE to G. High growth rate and high prosperity will become the core of institutional aesthetics. \"Specialization\" \"Jing, special and new\" and the Science and Technology Innovation Board, as the sectors with the highest growth rate in the entire market, will become the preferred directions to overcome \"involution\". 2) With the spread of the scientific and technological innovation market, traditional fields such as cyclical industries that can embrace manufacturing upgrades, technology, and dual-carbon era are also facing revaluation in valuation and profitability. Focus on steel, aluminum, copper, chemicals, cement, securities companies and other sectors that serve the needs of scientific and technological innovation, have new α logic, and embrace new technological empowerment. 3) In those areas where fundamentals are not very bright, lay out assets that will turn around in the second half of the year in advance, and steadily grow in the direction of \"new infrastructure\", including small household appliances, automobiles, machinery, and leaders in consumer segments.</p><p><b>Investment strategy: Embrace the long-term, embrace the general direction, and use the long to fight the short. Continue to lay out the core main line of high-quality growth represented by \"specialization, specialization and innovation\" and \"little giant\" of science and technology innovation on dips.</b>1) High-end manufacturing (semiconductor industry chain, military industry chain, etc.) New energy chain (new energy materials, lithium battery equipment, new energy vehicle industry chain,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Driving, etc.), 3) AIoT (computers, communications, electronics), 4) life sciences (biomedicine, medical devices, medical services, seeds, etc.).</p><p><b>Risk warning:</b>Pay attention to the global capital return to the United States exceeding expectations, and the Sino-US game exceeding expectations.</p><p><b>Report text</b></p><p><b>Let a hundred flowers bloom and perform as scheduled, and the market accelerates</b></p><p><b>Review:</b>Since April 2021, we have been bullish on the market and laid out the \"centenary\" market. The sector allocation emphasizes the long-term growth of science and technology innovation and the market of science and technology innovation board. Since then, in the past six months, emerging growth directions such as the GEM Index and the Science and Technology Innovation Board have continued to lead the rise. Starting from mid-July, we prompted \"summer escape\" and \"science and technology innovation has entered a bumpy layout period\". After that, the market fluctuated, differentiated, and spread as scheduled. Since August, we have repeatedly emphasized that \"there is no systemic risk\" and \"the market will enter a hundred flowers blooming\". At present, a hundred flowers bloom as scheduled.</p><p><b>Outlook: After the \"summer vacation\" and \"bumpy period\", a hundred flowers will bloom as scheduled. The A-share market is accelerating, and risk appetite continues to increase. For transactional players, it is recommended to grasp the poor expectations and flexibly grasp the structural hot spots. For configuration-oriented players, it is recommended to continue to focus on the long-term and actively deploy around the general direction of science and technology innovation and the new needs driven by it.</b></p><p><b>--After \"summer vacation\" and \"bumpy period\", a hundred flowers bloom and perform as scheduled.</b>In the second quarter, the market continued to focus on high-prosperity tracks such as new energy, semiconductors, military industry, and science and technology innovation, which brought about a trend rise in related sectors and a concentrated inflow of funds. Its transaction congestion also reached a record high in July. Therefore, we put forward \"avoiding summer heat and preventing overheating in summer\" and judged that funds will gradually spread and spill over from these sectors. In July and August, when the market fluctuated greatly and investors were most worried, we repeatedly stressed that the current market is not in 2018 and there are no systemic risks. Stock funds will not systematically reduce positions, but will surge back and forth in various sectors, leading the market into a hundred flowers blooming. At present, the hot spots in the market are spreading, various sectors are taking turns to rise, and a hundred flowers are blooming as scheduled: whether it is resource products such as coal, nonferrous metals, and steel, or large-cap blue-chips such as infrastructure and real estate, or high-β sectors such as brokerages, as well as small-cap indexes such as CSI 1000, and even the consumer sector that has been impacted by policies and has been adjusted more since the beginning of the year, has performed well, and Hong Kong stocks have also rebounded from the bottom area.</p><p><b>--The A-share market has accelerated, and risk appetite has continued to increase.</b>With a hundred flowers blooming, the market has emerged from the turbulent period. As the negative impact in the early stage further subsides and the superimposed policy easing continues to increase, A-shares have moved from first suppression to then rise: 1) Money has been loose, and subsequent fiscal and credit efforts are also expected to exert their strength, and the direction of policy easing is clear. On September 6th, Vice Premier Liu He said that \"infrastructure construction should be moderately advanced\". On September 7, Pan Gongsheng, deputy governor of the central bank, said that China's monetary policy is still in the normalized monetary policy range, and the monetary policy space is relatively large. On September 9, in accordance with the deployment of the National Standing Committee, the central bank announced an additional 300 billion yuan of small refinancing quota, which will be issued at preferential interest rates within the remaining four months of this year. 2) There are no systemic risks overseas. The Federal Reserve expects relatively sufficient guidance, the market's concerns about Taper have basically eased, and the United States is expected to have at least US $550 billion in infrastructure plans in the fourth quarter. In Europe, although the European Central Bank announced on September 10 that it would slow down the pace of PEPP bond purchases in the fourth quarter, it will still maintain the potential scale of 1.85 trillion euros unchanged. 3) At the time point, with the completion of the disclosure of the interim report, the current market has once again entered a performance window period, and the expectation of policy relaxation is superimposed, and the market risk appetite is increasing. At the same time, President Xi had a phone call with US President Biden last week at request, which is also conducive to increasing the risk appetite of foreign investors for Chinese assets.</p><p><b>--For trading players, in a market where a hundred flowers bloom, it is recommended to seize the poor expectations and flexibly grasp the structural hot spots. For configuration-oriented players, it is recommended to continue to base themselves on the long-term and actively deploy around the general direction of science and technology innovation and the new needs driven by it:</b>1) Science and technology innovation is in the ascendant, taking advantage of the bumps behind the \"top of the bottom\" to lay out long-term cost-effective \"small and beautiful\", \"specialized, special and new\" and \"little giants\" of science and technology innovation. The \"hard technology\" attribute it represents can best adapt to the current background of the Sino-US game, the urgent need to improve technological competitiveness, and get rid of the \"stuck neck\" dilemma. At the same time, the capital aspect has changed from incremental entry to stock game. The era of \"mindless buying leaders\" has passed, and the market aesthetics is shifting from ROE to G. High growth rate and high prosperity will become the core of institutional aesthetics. \"Specialization\" \"Jing, special and new\" and the Science and Technology Innovation Board, as the sectors with the highest growth rate in the entire market, will become the preferred directions to overcome \"involution\". 2) With the spread of the scientific and technological innovation market, traditional fields such as cyclical industries that can embrace manufacturing upgrades, technology, and dual-carbon era are also facing revaluation in valuation and profitability. Focus on steel, aluminum, copper, chemicals, cement, securities companies and other sectors that serve the needs of scientific and technological innovation, have new α logic, and embrace new technological empowerment. 3) In those areas where fundamentals are not very bright, lay out assets that will turn around in the second half of the year in advance, and steadily grow in the direction of \"new infrastructure\", including small household appliances, automobiles, machinery, and leaders in consumer segments.</p><p><b>--Investment strategy: embrace the long-term, embrace the general direction, and use the long to fight the short. Continue to lay out the core main line of high-quality growth represented by \"specialization, specialization and innovation\" and \"little giant\" of science and technology innovation on dips.</b>1) High-end manufacturing (semiconductor industry chain, military industry chain, etc.), 2) New energy chain (new energy materials, lithium battery equipment, new energy vehicle industry chain, intelligent driving, etc.), 3) AIoT (computers, communications, electronics, 4) Life sciences (biomedicine, medical devices, medical services, seeds, etc.).</p><p><b>A-share market review this week</b></p><p><img src=\"https://static.tigerbbs.com/13071928fe3eeb6151dd5ce85bc6c855\" tg-width=\"1080\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/69ba9b865b341e29205bbb6185a02cbc\" tg-width=\"1080\" tg-height=\"406\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/50eb477d5780e2d8336af02294a958b1\" tg-width=\"1080\" tg-height=\"464\" referrerpolicy=\"no-referrer\"></p><p><b>A-share capital tracking</b></p><p><img src=\"https://static.tigerbbs.com/f33f9f6887e315296989199286714530\" tg-width=\"1080\" tg-height=\"384\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/71dfe6b49cefe41574a2536cb10f5c76\" tg-width=\"1080\" tg-height=\"398\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a6ea75c24764a8265c984bb443603886\" tg-width=\"1080\" tg-height=\"418\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a5d294ded9d090e98cbcaf4388165aab\" tg-width=\"1080\" tg-height=\"413\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/247f4082b8df088496f39cd90650f750\" tg-width=\"1080\" tg-height=\"428\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/474c012d2d5eb83e71126cefcbae1004\" tg-width=\"1080\" tg-height=\"419\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/59adf5d792210fc726493a9861df8ab7\" tg-width=\"1080\" tg-height=\"421\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/bb2a7d4758017515b7167b8c82cf0c75\" tg-width=\"1080\" tg-height=\"455\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/60af3d869f451c91dbfd98cf111af778\" tg-width=\"1080\" tg-height=\"419\" referrerpolicy=\"no-referrer\"></p><p><b>A-share earnings and valuation</b></p><p><img src=\"https://static.tigerbbs.com/904398a8e2d5c55af5fc7cdbb22cb485\" tg-width=\"1080\" tg-height=\"434\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/c200d190f7e6d85bb50b1cbce1558bd6\" tg-width=\"1080\" tg-height=\"434\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/709795eb203c094f43d766f3ce9acef5\" tg-width=\"1080\" tg-height=\"476\" referrerpolicy=\"no-referrer\"></p><p><b>Overseas market tracking</b></p><p><img src=\"https://static.tigerbbs.com/33936cc9cfcb6aae21cfd24bc13bebef\" tg-width=\"1080\" tg-height=\"378\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a396dc75e119b4f7f05cfc27d3270440\" tg-width=\"1080\" tg-height=\"446\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/6fc496e65ba7e0aec1dcf90e417cf750\" tg-width=\"1080\" tg-height=\"420\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ee9e81e6df73399f2375e00440fc8cd2\" tg-width=\"1080\" tg-height=\"448\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/054f9b313e1bb6999ea74c6b36b4eb79\" tg-width=\"1080\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p><b>Risk warning</b></p><p><b>Pay attention to the global capital return to the United States exceeding expectations, and the Sino-US game exceeding expectations.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/3qKDuGqsRbyXwpX6Y6xJcQ\">尧望后势</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4a10424fe3b1f29e8d28fdc0dc474e86","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"source_url":"https://mp.weixin.qq.com/s/3qKDuGqsRbyXwpX6Y6xJcQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198332081","content_text":"核心观点\n回顾：2021年4月以来，我们看多市场，布局“百周年”行情，板块配置上强调科创长牛，科创板行情。此后近半年，创业板指、科创板等新兴成长方向持续领涨。7月中旬开始，我们前瞻提示“夏日避暑”、“科创进入颠簸布局期”，之后市场如期震荡、分化、扩散。8月以来，我们反复强调“不存在系统性风险”、“市场将进入百花齐放”，当前百花齐放如期演绎。\n展望：“夏日避暑”、“颠簸期”后，百花齐放如期演绎。A股行情加速，风险偏好持续提升。对于交易型选手，建议抓住预期差、灵活把握结构热点。对于配置型选手，建议继续立足长期，围绕科创大方向及其拉动下的新需求积极布局。\n“夏日避暑”、“颠簸期”后，百花齐放如期演绎。二季度，市场持续聚焦在新能源、半导体、军工、科创等高景气赛道，带来相关板块趋势性的上涨和资金的集中流入，其交易拥挤度也在7月一度达到历史最高位。因此，我们提出“夏日避暑防过热”，并判断资金将逐步从这些板块扩散、外溢。而在7、8月市场大幅波动、投资者担忧情绪最浓之际，我们又反复强调，当前市场并非2018年，并无系统性风险。存量资金不会系统性降仓位，而是在各个板块中来回涌动，带领市场进入百花齐放。当前，市场热点扩散、各板块轮番向上，百花齐放如期演绎：无论煤炭、有色、钢铁等资源品，还是基建地产等大盘蓝筹，亦或券商等高β板块，还有中证1000等小盘指数，乃至受政策冲击、年初以来调整较多的消费板块，都有所表现，港股也自底部区域有所反弹。\nA股行情加速，风险偏好持续提升。百花齐放之下，市场已从颠簸期中走出。随着前期利空影响进一步消退，叠加政策宽松持续加码，A股已由先抑走向后扬：1）货币已然宽松，后续财政、信贷也有望发力，政策放松的方向明确。9月6日刘鹤副总理表示“适度超前进行基础设施建设”。9月7日，央行副行长潘功胜表示中国的货币政策仍然处于常态化货币政策区间，货币政策空间比较大。9月9日，央行按照国常会部署，宣布新增3000亿元支小再贷款额度，并在今年剩余4个月之内以优惠利率发放。2）海外也不存在系统性风险。美联储预期引导相对充分，市场对于Taper的担忧基本缓和，并且美国四季度预计至少还有5500亿美元基建计划落地。欧洲方面，9月10日欧央行尽管宣布将放缓四季度PEPP购债速度，但仍将维持1.85万亿欧元潜在规模不变。3）时间点上，随着中报披露完毕，当前市场再度进入业绩空窗期，叠加政策放松预期，市场风险偏好正在提升。同时，上周习主席应约同美国总统拜登通电话，也有利于提升外资对中国资产的风险偏好。\n对于交易型选手，在百花齐放的市场中，建议抓住预期差、灵活把握结构热点。对于配置型选手，建议继续立足长期，围绕科创大方向及其拉动下的新需求积极布局：1）科创长牛方兴未艾，利用“底部的顶部”后的颠簸，布局长期性价比高的“小而美”、“专精特新”与科创“小巨人”。其代表的“硬科技”属性最能顺应当前中美博弈、迫切提升科技竞争力、摆脱“卡脖子”困境的时代大背景。与此同时，资金面由增量入场转为存量博弈，“无脑买龙头”的时代已过去，市场审美正从ROE转向G，高增速、高景气将成为机构审美的核心，“专精特新”与科创板作为全市场增速最高的板块，将成为战胜“内卷”的优选方向。2）科创行情扩散之中，能够拥抱制造业升级、拥抱科技、拥抱双碳时代的周期行业等传统领域，估值和盈利也正面临重估。重点关注服务科创需求、有新的α逻辑、拥抱新的科技赋能的钢铁、铝、铜、化工、水泥、券商等板块。3）那些基本面不太亮丽领域，提前布局下半年有转机的资产，稳增长“新基建”方向，包括，小家电、汽车、机械，也包括消费细分行业龙头。\n投资策略：拥抱长期、拥抱大方向，以长打短。继续逢低布局以“专精特新”与科创“小巨人”为代表的优质成长核心主线。1）高端制造（半导体产业链、军工产业链等），2）新能源链条（新能源材料、锂电设备、新能源车产业链、智能驾驶等）， 3）AIoT（计算机、通信、电子），4）生命科学（生物医药、医疗器械、医疗服务、种子等）。\n风险提示：关注全球资本回流美国超预期，中美博弈超预期等。\n报告正文\n百花齐放如期演绎，行情加速\n回顾：2021年4月以来，我们看多市场，布局“百周年”行情，板块配置上强调科创长牛，科创板行情。此后近半年，创业板指、科创板等新兴成长方向持续领涨。7月中旬开始，我们前瞻提示“夏日避暑”、“科创进入颠簸布局期”，之后市场如期震荡、分化、扩散。8月以来，我们反复强调“不存在系统性风险”、“市场将进入百花齐放”，当前百花齐放如期演绎。\n展望：“夏日避暑”、“颠簸期”后，百花齐放如期演绎。A股行情加速，风险偏好持续提升。对于交易型选手，建议抓住预期差、灵活把握结构热点。对于配置型选手，建议继续立足长期，围绕科创大方向及其拉动下的新需求积极布局。\n——“夏日避暑”、“颠簸期”后，百花齐放如期演绎。二季度，市场持续聚焦在新能源、半导体、军工、科创等高景气赛道，带来相关板块趋势性的上涨和资金的集中流入，其交易拥挤度也在7月一度达到历史最高位。因此，我们提出“夏日避暑防过热”，并判断资金将逐步从这些板块扩散、外溢。而在7、8月市场大幅波动、投资者担忧情绪最浓之际，我们又反复强调，当前市场并非2018年，并无系统性风险。存量资金不会系统性降仓位，而是在各个板块中来回涌动，带领市场进入百花齐放。当前，市场热点扩散、各板块轮番向上，百花齐放如期演绎：无论煤炭、有色、钢铁等资源品，还是基建地产等大盘蓝筹，亦或券商等高β板块，还有中证1000等小盘指数，乃至受政策冲击、年初以来调整较多的消费板块，都有所表现，港股也自底部区域有所反弹。\n——A股行情加速，风险偏好持续提升。百花齐放之下，市场已从颠簸期中走出。随着前期利空影响进一步消退，叠加政策宽松持续加码，A股已由先抑走向后扬：1）货币已然宽松，后续财政、信贷也有望发力，政策放松的方向明确。9月6日刘鹤副总理表示“适度超前进行基础设施建设”。9月7日，央行副行长潘功胜表示中国的货币政策仍然处于常态化货币政策区间，货币政策空间比较大。9月9日，央行按照国常会部署，宣布新增3000亿元支小再贷款额度，并在今年剩余4个月之内以优惠利率发放。2）海外也不存在系统性风险。美联储预期引导相对充分，市场对于Taper的担忧基本缓和，并且美国四季度预计至少还有5500亿美元基建计划落地。欧洲方面，9月10日欧央行尽管宣布将放缓四季度PEPP购债速度，但仍将维持1.85万亿欧元潜在规模不变。3）时间点上，随着中报披露完毕，当前市场再度进入业绩空窗期，叠加政策放松预期，市场风险偏好正在提升。同时，上周习主席应约同美国总统拜登通电话，也有利于提升外资对中国资产的风险偏好。\n——对于交易型选手，在百花齐放的市场中，建议抓住预期差、灵活把握结构热点。对于配置型选手，建议继续立足长期，围绕科创大方向及其拉动下的新需求积极布局：1）科创长牛方兴未艾，利用“底部的顶部”后的颠簸，布局长期性价比高的“小而美”、“专精特新”与科创“小巨人”。其代表的“硬科技”属性最能顺应当前中美博弈、迫切提升科技竞争力、摆脱“卡脖子”困境的时代大背景。与此同时，资金面由增量入场转为存量博弈，“无脑买龙头”的时代已过去，市场审美正从ROE转向G，高增速、高景气将成为机构审美的核心，“专精特新”与科创板作为全市场增速最高的板块，将成为战胜“内卷”的优选方向。2）科创行情扩散之中，能够拥抱制造业升级、拥抱科技、拥抱双碳时代的周期行业等传统领域，估值和盈利也正面临重估。重点关注服务科创需求、有新的α逻辑、拥抱新的科技赋能的钢铁、铝、铜、化工、水泥、券商等板块。3）那些基本面不太亮丽领域，提前布局下半年有转机的资产，稳增长“新基建”方向，包括，小家电、汽车、机械，也包括消费细分行业龙头。\n——投资策略：拥抱长期、拥抱大方向，以长打短。继续逢低布局以“专精特新”与科创“小巨人”为代表的优质成长核心主线。1）高端制造（半导体产业链、军工产业链等），2）新能源链条（新能源材料、锂电设备、新能源车产业链、智能驾驶等）， 3）AIoT（计算机、通信、电子），4）生命科学（生物医药、医疗器械、医疗服务、种子等）。\n本周A股市场回顾\n\nA股资金面跟踪\n\nA股盈利与估值\n\n海外市场跟踪\n\n风险提示\n关注全球资本回流美国超预期，中美博弈超预期等。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883354823,"gmtCreate":1631206690762,"gmtModify":1676530497358,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/883354823","repostId":"2166349380","repostType":4,"repost":{"id":"2166349380","kind":"highlight","pubTimestamp":1631201033,"share":"https://ttm.financial/m/news/2166349380?lang=en_US&edition=fundamental","pubTime":"2021-09-09 23:23","market":"us","language":"zh","title":"US Mobile Network Operators: It's Time to Shut Down 3G","url":"https://stock-news.laohu8.com/highlight/detail?id=2166349380","media":"CSDN","summary":"你的手机现在正使用什么样的网络服务呢？是4G还是5G呢？如果美国地区的用户依然停留在3G，他们可能需要在手机服务提供商关闭3G网络之前升级，以避免失去服务。\n美国联邦通信委员会（Federal Com","content":"<p>What kind of network service is your mobile phone using now? Is it 4G or 5G? If users in the United States still stay on 3G, they may need to upgrade before the mobile phone service provider shuts down the 3G network to avoid losing service.</p><p>The Federal Communications Commission (FCC) announced on its official website that mobile network operators are shutting down 3G networks using older technologies in order to better build advanced networks including 5G. As a result, many older phones still using 3G will not be able to make or receive calls and send and receive text messages, nor access data services or even make emergency calls. In this case, 3G phones and some 4G phones that do not support Voice over LTE (VoLTE or HD Voice) will be affected.</p><p>Moreover, it's not just mobile devices that will be affected. Certain medical devices, tablets,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Devices such as watches, vehicle SOS services, home security systems and other connected products will also be affected. If you are unsure whether your device will be affected, you can contact the monitoring company or other service provider to confirm whether the network connection of your device and whether your device will be affected.</p><p><b>When to shut down the 3G network?</b></p><p>The Federal Communications Commission announced the approximate schedule on its official website, but the plans and schedules of each company are different and may change. It is reported that it will be closed one after another from January 1, 2022 at the earliest.</p><p><ul><li>AT&T will shut down its 3G network by the end of February 2022.</p><p></li><li>Verizon will shut down its 3G network by December 31, 2022.</p><p></li><li>T-Mobile will shut down Sprint's 3G network by January 1, 2022, and will shut down Sprint's LTE network by June 30, 2022. The company also plans to shut down its T-Mobile2G and 3G networks, but no specific date has been announced.</p><p></li></ul>Even if your mobile network operator is not listed, it doesn't mean that you won't be affected at all. Many carriers, such as Cricket, Boost, Straight Talk, and several Lifeline mobile service providers, have utilized the networks of AT&T, Verizon, and T-Mobile. The Federal Communications Commission said that these are the dates to complete the network shutdown, and operators may stop operating at an earlier time.</p><p><b>Eliminating 3G is the general trend</b></p><p>In our country,<a href=\"https://laohu8.com/S/CHA\">China Telecom</a>In June 2020, it announced that it would gradually shut down the 3G network in Yunnan, and its 5G terminals were not allowed to exist in CDMA mode.<a href=\"https://laohu8.com/S/600050\">China Unicom</a>It is to encourage 2G users to change phones in various provinces, and at the same time, 2G network base station frequency reduction work is also carried out.<a href=\"https://laohu8.com/S/CHL\">China Mobile</a>I have paid a lot of efforts for 3G, but now I have chosen to give up 3G.</p><p>In addition, as early as 2020, there were reports that the Malaysian government was drafting a digital infrastructure blueprint \"National Digital Network\" (JENDALA), and plans to phase out 3G by the end of 2021. Japan will end the use of 3G as soon as 2022, Australia plans to completely phase out 3G in 2024, and Singapore's goal is after 2025.</p><p>Recently,<a href=\"https://laohu8.com/S/VOD\">Vodafone</a>Vodafone UK is eager to move these 3G subscribers away from the aging service so it can re-till the spectrum and save costs. The operator spent about 6 billion pounds to obtain the initial 3G license in 2000, but now it can't be avoided.<a href=\"https://laohu8.com/S/VOD\">Vodafone</a>An Open RAN network is being built, and Ker Anderson, its head of wireless and performance, said at a media roundtable this week: \"Open RAN is not suitable for 3G.\"</p><p><h2>Why deactivate the 3G network?</h2>As mobile network operators upgrade their networks, in order to use the latest technology, they regularly shut down legacy services such as 3G, freeing up spectrum and infrastructure to support new services such as 5G. Spectrum is a limited resource. If 3G is not used, a large part of high-frequency spectrum will be allocated to 3G telecom companies.</p><p>At present, there are four networks of 2G, 3G, 4G, and 5G. With more network frequency bands, operators will face very high overall operation and maintenance costs. If unnecessary network data services can be eliminated, they can also sort out more high-quality spectrum is used for 5G network construction to further save network operation and maintenance costs and 5G network construction costs.</p><p><h2>Does 2G last longer than 3G?</h2>Ker Anderson said that 2G will last longer than 3G.<a href=\"https://laohu8.com/S/VOD\">Vodafone</a>The spokesman said that 2G technology is necessary because it is still the only option for global roaming and is still used for M2M connections. In Europe, many operators, including Vodafone, have begun to phase out 3G while retaining 2G. There are a large number of applications in Europe that still rely on 2G, such as M2M and other connected devices. Keeping 2G will provide more time for enterprises or industries to switch to LTE-M and NB-loT new applications.</p><p>In addition, continuing to maintain 2G can also ensure non-<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Users of mobile phones can get services.<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>There are more and more mobile phone users, but there are still a large number of users who are still using non-smart phones to realize the most basic voice call and short message services. According to the \"2020 Global Mobile Market Report\", the number of active users of smartphones reached 3.5 billion in 2020, accounting for approximately 45% of the global population, which means that there are still many people in the world who have not yet used smartphones. If 2G is stopped, it will affect thousands of people.</p>","source":"36kr_stock","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>US Mobile Network Operators: It's Time to Shut Down 3G</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\">\nUS Mobile Network Operators: It's Time to Shut Down 3G\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CSDN</strong><span class=\"h-time small\">2021-09-09 23:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What kind of network service is your mobile phone using now? Is it 4G or 5G? If users in the United States still stay on 3G, they may need to upgrade before the mobile phone service provider shuts down the 3G network to avoid losing service.</p><p>The Federal Communications Commission (FCC) announced on its official website that mobile network operators are shutting down 3G networks using older technologies in order to better build advanced networks including 5G. As a result, many older phones still using 3G will not be able to make or receive calls and send and receive text messages, nor access data services or even make emergency calls. In this case, 3G phones and some 4G phones that do not support Voice over LTE (VoLTE or HD Voice) will be affected.</p><p>Moreover, it's not just mobile devices that will be affected. Certain medical devices, tablets,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Devices such as watches, vehicle SOS services, home security systems and other connected products will also be affected. If you are unsure whether your device will be affected, you can contact the monitoring company or other service provider to confirm whether the network connection of your device and whether your device will be affected.</p><p><b>When to shut down the 3G network?</b></p><p>The Federal Communications Commission announced the approximate schedule on its official website, but the plans and schedules of each company are different and may change. It is reported that it will be closed one after another from January 1, 2022 at the earliest.</p><p><ul><li>AT&T will shut down its 3G network by the end of February 2022.</p><p></li><li>Verizon will shut down its 3G network by December 31, 2022.</p><p></li><li>T-Mobile will shut down Sprint's 3G network by January 1, 2022, and will shut down Sprint's LTE network by June 30, 2022. The company also plans to shut down its T-Mobile2G and 3G networks, but no specific date has been announced.</p><p></li></ul>Even if your mobile network operator is not listed, it doesn't mean that you won't be affected at all. Many carriers, such as Cricket, Boost, Straight Talk, and several Lifeline mobile service providers, have utilized the networks of AT&T, Verizon, and T-Mobile. The Federal Communications Commission said that these are the dates to complete the network shutdown, and operators may stop operating at an earlier time.</p><p><b>Eliminating 3G is the general trend</b></p><p>In our country,<a href=\"https://laohu8.com/S/CHA\">China Telecom</a>In June 2020, it announced that it would gradually shut down the 3G network in Yunnan, and its 5G terminals were not allowed to exist in CDMA mode.<a href=\"https://laohu8.com/S/600050\">China Unicom</a>It is to encourage 2G users to change phones in various provinces, and at the same time, 2G network base station frequency reduction work is also carried out.<a href=\"https://laohu8.com/S/CHL\">China Mobile</a>I have paid a lot of efforts for 3G, but now I have chosen to give up 3G.</p><p>In addition, as early as 2020, there were reports that the Malaysian government was drafting a digital infrastructure blueprint \"National Digital Network\" (JENDALA), and plans to phase out 3G by the end of 2021. Japan will end the use of 3G as soon as 2022, Australia plans to completely phase out 3G in 2024, and Singapore's goal is after 2025.</p><p>Recently,<a href=\"https://laohu8.com/S/VOD\">Vodafone</a>Vodafone UK is eager to move these 3G subscribers away from the aging service so it can re-till the spectrum and save costs. The operator spent about 6 billion pounds to obtain the initial 3G license in 2000, but now it can't be avoided.<a href=\"https://laohu8.com/S/VOD\">Vodafone</a>An Open RAN network is being built, and Ker Anderson, its head of wireless and performance, said at a media roundtable this week: \"Open RAN is not suitable for 3G.\"</p><p><h2>Why deactivate the 3G network?</h2>As mobile network operators upgrade their networks, in order to use the latest technology, they regularly shut down legacy services such as 3G, freeing up spectrum and infrastructure to support new services such as 5G. Spectrum is a limited resource. If 3G is not used, a large part of high-frequency spectrum will be allocated to 3G telecom companies.</p><p>At present, there are four networks of 2G, 3G, 4G, and 5G. With more network frequency bands, operators will face very high overall operation and maintenance costs. If unnecessary network data services can be eliminated, they can also sort out more high-quality spectrum is used for 5G network construction to further save network operation and maintenance costs and 5G network construction costs.</p><p><h2>Does 2G last longer than 3G?</h2>Ker Anderson said that 2G will last longer than 3G.<a href=\"https://laohu8.com/S/VOD\">Vodafone</a>The spokesman said that 2G technology is necessary because it is still the only option for global roaming and is still used for M2M connections. In Europe, many operators, including Vodafone, have begun to phase out 3G while retaining 2G. There are a large number of applications in Europe that still rely on 2G, such as M2M and other connected devices. Keeping 2G will provide more time for enterprises or industries to switch to LTE-M and NB-loT new applications.</p><p>In addition, continuing to maintain 2G can also ensure non-<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Users of mobile phones can get services.<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>There are more and more mobile phone users, but there are still a large number of users who are still using non-smart phones to realize the most basic voice call and short message services. According to the \"2020 Global Mobile Market Report\", the number of active users of smartphones reached 3.5 billion in 2020, accounting for approximately 45% of the global population, which means that there are still many people in the world who have not yet used smartphones. If 2G is stopped, it will affect thousands of people.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1391196105964289\">CSDN</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/de32cdfac2bad59cafa74c204a27c527","relate_stocks":{"VOD":"沃达丰"},"source_url":"https://36kr.com/p/1391196105964289","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2166349380","content_text":"你的手机现在正使用什么样的网络服务呢？是4G还是5G呢？如果美国地区的用户依然停留在3G，他们可能需要在手机服务提供商关闭3G网络之前升级，以避免失去服务。\n美国联邦通信委员会（Federal Communications Commission，FCC）在其官网宣布，移动网络运营商正在关闭采用旧技术的3G网络，以便更好地建设包括5G在内的进阶网络。因此，许多仍使用3G的旧手机将无法拨打或接听电话和收发短信，也无法使用数据服务，甚至无法拨打紧急电话。在这种情况之下，3G手机和某些不支持Voice over LTE（VoLTE或HD Voice）的4G手机都会受到影响。\n此外，不只是手机设备会受到影响。某些使用3G网络服务的医疗设备、平板电脑、智能手表、车辆SOS服务、家庭安全系统和其他连网产品等设备也会被波及。如果不确定自己的设备是否会被影响，用户可以与监控公司或其他服务提供商联络，确认设备的连网方式和装置是否会受到影响。\n什么时候关闭3G网络？\n美国联邦通信委员会在其官网公布了大概的时间安排，但是各家公司的计划和时间安排不同，可能还会改变。据悉，最早从2022年1月1日起就会陆续关闭。\n\nAT&T将在2022年2月底前关闭其3G网络。\nVerizon将在2022年12月31日前关闭其3G网络。\nT-Mobile将在2022年1月1日前关闭Sprint的3G网络，将在2022年6月30日前关闭Sprint的LTE网络。该公司还计划关闭T-Mobile2G和3G网络，但尚未宣布具体日期。\n\n就算你的移动网络运营商并没有列在其中，也不意味着你完全不会受到影响。许多运营商，如Cricket、Boost、Straight Talk和几家Lifeline移动服务提供商，都利用了AT&T、Verizon和T-Mobile的网络。美国联邦通信委员会称，这些都是完成网络关闭的日期，运营商可能会在更早的时间停止运营。\n淘汰3G已是大势所趋\n在我国，中国电信于2020年6月宣布将逐步在云南关闭3G网络，其5G终端不允许存在CDMA模式。中国联通则是在各省鼓励2G用户换机，同时还有 2G 网络基站减频工作。中国移动曾为3G付出过很多心血，如今也选择了放弃3G。\n除此之外，早在2020年就有报道称马来西亚政府正拟定数码基建蓝图“国家数码网络”（JENDALA），计划于2021年底淘汰3G。日本最快于2022年开始结束3G的使用，澳洲计划在2024年完全淘汰3G，新加坡的目标则是2025年之后。\n近期，沃达丰英国公司（Vodafone UK）正急于将这些3G用户从老化的服务中转移出去，以便其能够重耕频谱，节约成本。该运营商在2000年斥资约60亿英镑获得了最初的3G牌照，但是现在却避之不及。沃达丰正在建设一张Open RAN网络，其无线和性能主管Ker Anderson在本周的一场媒体圆桌会议上表示：“Open RAN并不适用于3G。”\n为什么要停用3G网络？\n随着移动网络运营商升级网络，为了使用最新技术，它们会定期关闭3G等原有服务，释放频谱和基础结构，支持5G等新服务。频谱是一种有限资源，若3G不停用，很大一部分高频段的频谱会分配给3G电信公司。\n目前已经有2G、3G、4G、5G四张网络，有更多的网络频段，运营商将面临非常高的整体运维成本，如果能够清退不必要网络数据服务，同时也能够整理更多优质的频谱，用于5G网络建设，以进一步节省网络运维成本以及5G网络建设成本。\n2G比3G的寿命更长？\nKer Anderson称，2G的寿命将比3G更长。沃达丰发言人表示，2G技术是必要的，因为它仍是全球漫游的唯一选择，并且仍然被用于M2M连接。在欧洲，包括沃达丰在内的多家运营商，都是在保留2G的同时开始淘汰3G。欧洲有大量应用程序仍依赖2G，例如M2M和其他连接设备。保留2G，将为企业或行业切换到LTE-M和NB-loT新应用程序提供更多时间。\n另外，继续维持2G还能确保非智能手机的用户能够得到服务。智能手机用户越来越多，但是目前仍有大量用户仍在使用非智能手机，实现最基本的语音通话和短信服务。据《2020全球移动市场报告》显示，2020年智能手机的活跃用户达35亿，约占全球总人口的45％，这意味着世界上还有很多人尚未使用智能手机。如果停止了2G，将会影响成千上万人。","news_type":1,"symbols_score_info":{"VOD":0.9}},"isVote":1,"tweetType":1,"viewCount":549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814430505,"gmtCreate":1630856164807,"gmtModify":1676530406741,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/814430505","repostId":"1164269750","repostType":4,"isVote":1,"tweetType":1,"viewCount":928,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812547061,"gmtCreate":1630597094253,"gmtModify":1676530353349,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/812547061","repostId":"2164546845","repostType":4,"repost":{"id":"2164546845","kind":"news","pubTimestamp":1630569124,"share":"https://ttm.financial/m/news/2164546845?lang=en_US&edition=fundamental","pubTime":"2021-09-02 15:52","market":"us","language":"zh","title":"Great changes in the currency market: There are so many dollars that the market doesn't want them","url":"https://stock-news.laohu8.com/highlight/detail?id=2164546845","media":"智通财经","summary":"货币市场正在发生翻天覆地的变化。","content":"<p>Currency markets are changing dramatically.</p><p>For years, the premium of the US dollar to currencies such as the euro and yen has been negative in the cross currency market, which indicates that there is very strong demand for the US dollar. Now these so-called cross-currency basis swaps</p><p>basis swap) is about to turn positive.</p><p>\"Things that never happened before are happening now,\"<a href=\"https://laohu8.com/S/CS\">Credit Suisse</a>Strategist Zoltan Pozsar said. He noted that people have become accustomed to thinking that cross-currency basis swaps are negative.</p><p>\"There was always an excessive demand for dollars, and that excessive demand has disappeared.\"</p><p><a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>The unconventional measures taken, including the Federal Reserve's extensive liquidity in the form of dollar swap lines and new repurchase agreement facilities, mean that the financial system has essentially been flooded with cash.</p><p>In 2015, the Federal Reserve withdrew dollar liquidity from the market, just as the BOJ and ECB were ramping up their quantitative easing programs.</p><p><img src=\"https://static.tigerbbs.com/1c51bd3b468c4ca66d6b3f834bb6ad88\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"Some of the most experienced short-term rate traders will tell you that the volume between 2015 and 2019 was unprecedented,\" Pozsar said.</p><p>\"So fast forward to today, we have so much liquidity right now, particularly the dollar, and the Fed is doing quantitative easing faster than either the BOJ or the ECB. So the dollar is well supplied. Regulation isn't getting stricter.</p><p>If anything, they are getting looser. The Fed has become the dealer of last resort. \"</p><p>Even longer-term cross-currency basis swaps, such as the 10-year swap between the Japanese yen and the US dollar, are about to turn positive. This premium currently stands at-34 basis points, the smallest difference in more than 10 years.</p><p>This swap indicator is a way to measure the difference in the cost of borrowing dollars in Japan versus borrowing dollars in the United States, and if the indicator is negative, it indicates that borrowing dollars in yen is more expensive.</p><p>In theory, this difference should not exist because participants arbitrage to eliminate the difference, but regulations introduced in the wake of the financial crisis may have limited their ability to do so.</p><p><img src=\"https://static.tigerbbs.com/d705e196ca793c3ad2f3e4e987cbf869\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Most of the world's excess dollars are currently deposited in the Federal Reserve's reverse repurchase facility, which this week absorbed a record $1.19 trillion from banks, money market funds and other financial counterparties.</p><p>Meanwhile, the launch of a new repurchase facility at the end of July should provide the Fed with another avenue to absorb excess liquidity from the financial system.</p><p>The Federal Reserve's liquidity measures have driven short-term interest rates lower in several countries.</p><p>In particular, the spread between the London Interbank Offered Rate (Libor) and overnight index swaps (OIS), a measure of banks' dollar funding costs, is close to negative.</p><p>That's different from 2008, when turmoil in the repo market and concerns about counterparties pushed the metric to record highs.</p><p><img src=\"https://static.tigerbbs.com/8441795a323461ec45740acebe20200a\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"This reflects that there is too much cash in the system relative to demand,\" Pozsar said. \"For quite some time, it will be very different than it has been in the last 5 years.</p><p>I think short-term rate traders have had a golden age over the last 5 years because we've had so much, so much spread movement in the currency markets. \"</p>","source":"stock_zhitongcaijing","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>Great changes in the currency market: There are so many dollars that the market doesn't want 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\">\nGreat changes in the currency market: There are so many dollars that the market doesn't want them\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-09-02 15:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Currency markets are changing dramatically.</p><p>For years, the premium of the US dollar to currencies such as the euro and yen has been negative in the cross currency market, which indicates that there is very strong demand for the US dollar. Now these so-called cross-currency basis swaps</p><p>basis swap) is about to turn positive.</p><p>\"Things that never happened before are happening now,\"<a href=\"https://laohu8.com/S/CS\">Credit Suisse</a>Strategist Zoltan Pozsar said. He noted that people have become accustomed to thinking that cross-currency basis swaps are negative.</p><p>\"There was always an excessive demand for dollars, and that excessive demand has disappeared.\"</p><p><a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>The unconventional measures taken, including the Federal Reserve's extensive liquidity in the form of dollar swap lines and new repurchase agreement facilities, mean that the financial system has essentially been flooded with cash.</p><p>In 2015, the Federal Reserve withdrew dollar liquidity from the market, just as the BOJ and ECB were ramping up their quantitative easing programs.</p><p><img src=\"https://static.tigerbbs.com/1c51bd3b468c4ca66d6b3f834bb6ad88\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"Some of the most experienced short-term rate traders will tell you that the volume between 2015 and 2019 was unprecedented,\" Pozsar said.</p><p>\"So fast forward to today, we have so much liquidity right now, particularly the dollar, and the Fed is doing quantitative easing faster than either the BOJ or the ECB. So the dollar is well supplied. Regulation isn't getting stricter.</p><p>If anything, they are getting looser. The Fed has become the dealer of last resort. \"</p><p>Even longer-term cross-currency basis swaps, such as the 10-year swap between the Japanese yen and the US dollar, are about to turn positive. This premium currently stands at-34 basis points, the smallest difference in more than 10 years.</p><p>This swap indicator is a way to measure the difference in the cost of borrowing dollars in Japan versus borrowing dollars in the United States, and if the indicator is negative, it indicates that borrowing dollars in yen is more expensive.</p><p>In theory, this difference should not exist because participants arbitrage to eliminate the difference, but regulations introduced in the wake of the financial crisis may have limited their ability to do so.</p><p><img src=\"https://static.tigerbbs.com/d705e196ca793c3ad2f3e4e987cbf869\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Most of the world's excess dollars are currently deposited in the Federal Reserve's reverse repurchase facility, which this week absorbed a record $1.19 trillion from banks, money market funds and other financial counterparties.</p><p>Meanwhile, the launch of a new repurchase facility at the end of July should provide the Fed with another avenue to absorb excess liquidity from the financial system.</p><p>The Federal Reserve's liquidity measures have driven short-term interest rates lower in several countries.</p><p>In particular, the spread between the London Interbank Offered Rate (Libor) and overnight index swaps (OIS), a measure of banks' dollar funding costs, is close to negative.</p><p>That's different from 2008, when turmoil in the repo market and concerns about counterparties pushed the metric to record highs.</p><p><img src=\"https://static.tigerbbs.com/8441795a323461ec45740acebe20200a\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>\"This reflects that there is too much cash in the system relative to demand,\" Pozsar said. \"For quite some time, it will be very different than it has been in the last 5 years.</p><p>I think short-term rate traders have had a golden age over the last 5 years because we've had so much, so much spread movement in the currency markets. \"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/553010.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c685480ed37cb27252b8611b704480cc","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"http://www.zhitongcaijing.com/content/detail/553010.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164546845","content_text":"货币市场正在发生翻天覆地的变化。\n多年来，在交叉货币市场上，美元相对于欧元、日元等货币的溢价一直为负，这表明对美元的需求非常旺盛。现在，这些所谓的交叉货币基差互换(cross-currency \nbasis swap)即将转为正值。\n“以前从未发生过的事情现在正在发生，”瑞士信贷策略师Zoltan Pozsar表示。 他指出，人们已经习惯认为交叉货币基差互换是负值。 \n“对美元的过度需求总是存在的，而这种过度需求已经消失了。”\n中央银行采取的非常规措施，包括美联储以美元互换额度和新回购协议工具的形式提供大量流动性，意味着金融体系实质上已经被现金淹没。\n2015年，美联储从市场撤出美元流动性，当时日本央行和欧洲央行正在加大量化宽松计划。\n\n“一些经验最丰富的短期利率交易员会告诉你，2015年到2019年期间的交易量是前所未有的，” Pozsar表示。 \n“所以快进到今天，我们现在有这么多的流动性，特别是美元，美联储量化宽松的速度比日本央行或欧洲央行都快。 所以美元供应充足。 监管并没有变得更加严格。 \n如果说有什么不同的话，那就是它们变得越来越宽松了。 美联储已成为最后的交易商。 ”\n甚至较长期限的交叉货币基差互换，例如日元和美元之间的 10 年期互换，也即将转为正值。 目前这一溢价为-34个基点，为10多年来最小的差值。\n这种互换指标是衡量在日本借入美元与在美国借入美元成本差异的一种方法，如果指标为负，则表明用日元借入美元的成本更高。 \n理论上，这种差异不应该存在，因为参与者通过套利来消除差异，但金融危机后出台的监管规定可能限制了他们这样做的能力。\n\n全球大部分过剩美元目前都存放在美联储的逆回购工具中，本周美联储从银行、货币市场基金和其他金融对手那里吸纳了创纪录的1.19万亿美元。 \n与此同时，7月底推出的新回购协议工具应该会为美联储提供另一种从金融体系吸收过剩流动性的途径。\n美联储的流动性措施推动了多个国家的短期利率下降。 \n特别是，伦敦银行同业拆借利率(Libor)与隔夜指数掉期(OIS)之间的息差(衡量银行的美元融资成本的指标)接近于负值。 \n这与2008年的情况不同，当时回购市场的动荡和对交易对手的担忧将该指标推至创纪录高点。\n\nPozsar表示：“这反映出，相对于需求，系统中的现金太多了。”“在相当长的一段时间内，情况将与过去5年截然不同。 \n我认为在过去的5年里，短期利率交易员经历了一个黄金时代，因为我们在货币市场上发生了太多太多的价差波动。”","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":879,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813813799,"gmtCreate":1630167552411,"gmtModify":1676530237492,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087263755014960","idStr":"4087263755014960"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/813813799","repostId":"2162075282","repostType":4,"repost":{"id":"2162075282","kind":"highlight","pubTimestamp":1630136619,"share":"https://ttm.financial/m/news/2162075282?lang=en_US&edition=fundamental","pubTime":"2021-08-28 15:43","market":"us","language":"zh","title":"Natural gas has gone crazy, how is the mid-term report of A-share gas companies?","url":"https://stock-news.laohu8.com/highlight/detail?id=2162075282","media":"华尔街见闻","summary":"曾经价格低廉的天然气成为大宗商品涨价王，亚洲过去一年暴涨了6倍，欧洲14个月内疯涨10倍。在行业快速增长的背景下，龙头燃气公司体现出来的增速更是高于行业水平。","content":"<p>Under the superposition of factors and backgrounds such as inflation and carbon neutrality, commodities have risen rapidly this year, and natural gas is the leader among them, becoming the commodity with the largest increase this year.</p><p>According to CCTV News, market data shows that the price of liquefied natural gas in Asia has soared nearly six times in the past year; The increase of natural gas in Europe is even more alarming, with prices in July increasing more than 10 times compared with May last year; Even the United States, which is rich in natural gas resources, could not withstand it. By August 18, it rose to US $4.2 per million British thermal units, twice that of last year. Recently, gas prices have hit their highest level in the past 10 years.</p><p>Natural gas prices soar, how is the performance of A-share gas companies? What will be the follow-up trend of the stock prices of these companies?</p><p><h2>Progress of domestic natural gas industry in the first half of the year</h2>According to<a href=\"https://laohu8.com/S/601162\">Tianfeng Securities</a>Research report,<b>In the first half of 2021, domestic natural gas demand grew rapidly under the background of \"carbon neutrality\" and \"coal-to-gas\", with total apparent consumption reaching 185.1 billion cubic meters, a year-on-year increase of 16%.</b></p><p>Wherein,<b>LNG (liquefied natural gas) imports increased by 26%. The main reason is that under the background of rapid growth in overall demand, domestic gas volume and pipeline imported gas volume have certain supply rigidity, and the elastic part can only be made up by LNG imports.</b></p><p>Under the background of \"coal to gas\" industry, industrial and commercial gas is the key factor driving the growth of overall gas volume.</p><p>However, after a period of rapid growth and speculation, there is also a risk of a significant slowdown in the growth rate of domestic natural gas market demand:</p><p>First, the international LNG spot price fluctuates too much, which will affect the demand stability of downstream companies; Second, under the new situation of increasing gas price fluctuations, ineffective corporate hedging has led to increased profit volatility.</p><p>However, in the context of rapid growth in demand and high gas source prices, there are also some growing pains-gas companies have experienced a slight gross margin compression. However, it is worth noting that benefiting from the increase in gas volume, the costs of leading companies have been diluted.</p><p><h2>Retail gas volume and gross difference of leading gas companies</h2><b>Overall, under the background of rapid growth of the industry, the growth rate of leading gas companies is higher than the industry level.</b></p><p>Tianfeng Securities research report shows that,<a href=\"https://laohu8.com/S/02688\">ENN Energy</a>Retail gas volume in the first half of the year was 12.4 billion cubic meters, +22% year-on-year;<a href=\"https://laohu8.com/S/01193\">China Resources Gas</a>Retail gas volume in the first half of the year was 13.3 billion cubic meters, +30% year-on-year;<a href=\"https://laohu8.com/S/00135\">Kunlun Energy</a>In the first half of the year, retail gas volume was 12 billion cubic meters, +20% year-on-year.</p><p><img src=\"https://static.tigerbbs.com/48478ea34256871597c76f7c97ae61a7\" tg-width=\"667\" tg-height=\"370\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Specific to the company's financial data,<b>The narrowing range of EBIT (profit before tax and interest) corresponding to unilateral gas is significantly smaller than the narrowing range of gross difference.</b></p><p>Changes in gross difference of major city gas companies in 2021H1 (unit: 100 million cubic meters):</p><p><img src=\"https://static.tigerbbs.com/6b45ce0fc19352b8ecc7f63dac39c7ac\" tg-width=\"854\" tg-height=\"426\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>For example, in ENN Energy's natural gas retail business segment, the gross gas difference per cubic meter dropped from 0.61 yuan/m3 in 2020H1 to 0.56 yuan/m3 in 2021H1,-0.05 yuan/m3 year-on-year; The EBIT level of unilateral gas dropped from 0.30 yuan/m3 to 0.27 yuan/m3, a year-on-year decrease of 0.03 yuan/m3, which was less than the narrowing of the gross difference.</p><p><img src=\"https://static.tigerbbs.com/0a1ddf5f910ff3d557248d455bf6ef60\" tg-width=\"656\" tg-height=\"605\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><h2><b>LGN data and future growth</b></h2><b>Tianfeng Securities believes that gas companies should pay more attention to the growth of their gas volume rather than the fluctuation of price difference.</b></p><p>In terms of LGN's data and competitiveness:</p><p><b><a href=\"https://laohu8.com/S/600803\">ENN shares</a></b>It hosted the Zhoushan LNG receiving station and obtained the window period right to use the LNG receiving station of the National Pipeline Network Company. The terminal's processing capacity in the first half of the year was 1.84 million tons, of which 52% was liquid out, with a full-year target of 4.5 million tons. After the completion of the second phase of Q2 this year, the processing capacity is expected to reach 8 million tons in 2023.</p><p>In addition, the company is applying for approval for the third phase of capacity expansion, and is expected to receive approval by the end of 2021 to build Zhoushan into an LNG trading center in Northeast Asia.</p><p><b>Kunlun Energy</b>It has two LNG import terminals in Tangshan and Rudong, each with a loading and unloading capacity of 6.5 million tons. In the first half of 2021, the average load factor of the two receiving stations was as high as 84%, a significant year-on-year increase of 18.6 pct; LNG gasification volume and loading volume totaled 7.5 billion cubic meters, +28% year-on-year.</p><p>It may also be seen from the utilization rate of receiving stations announced by Kunlun Energy that the utilization rate of LNG import terminals increased significantly in the first half of the year. In addition, major listed companies expressed their emphasis on LNG gas sources in the release of interim results, including the window period of the LNG receiving station of the National Pipeline Network Company. Utilizing the window period and other diversified LNG gas sources is also the future gas company. layout direction.</p><p><img src=\"https://static.tigerbbs.com/055345b16596d1a9e0bfd2734eb882f5\" tg-width=\"670\" tg-height=\"175\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b><a href=\"https://laohu8.com/S/00384\">China Gas</a></b>Although there are currently no self-operated LNG receiving stations. However, it proposed at the performance meeting that the national pipeline network company should cooperate during the window period and explore LNG pipeline gas exchange. China Gas is<a href=\"https://laohu8.com/S/CEO\">CNOOC</a>The largest LNG distributor has established a joint venture company in Guangdong Province, targeting industrial users in the Greater Bay Area to convert coal to gas, with the goal of becoming the largest LNG liquid distribution company in China. In fiscal year 21/22, 4.5-5 million tons of LNG sales are planned. In cooperation with the National Pipeline Network Company, during the window period of the LNG terminal, it is planned to import 700-1 million tons of LNG in 2021.</p><p><img src=\"https://static.tigerbbs.com/e9438db04453bc7db61f38421aea16da\" tg-width=\"664\" tg-height=\"471\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>China Resources Gas</b>In the first half of 2021, pipeline gas procurement accounted for 88.0%, a year-on-year increase of 1.0 percentage points; LNG procurement accounted for 10.4%, a year-on-year decrease of 1.0 percentage points. During the window period, 160 million cubic meters of international LNG were purchased to optimize gas source procurement costs.</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Natural gas has gone crazy, how is the mid-term report of A-share gas companies?</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\">\nNatural gas has gone crazy, how is the mid-term report of A-share gas companies?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-08-28 15:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Under the superposition of factors and backgrounds such as inflation and carbon neutrality, commodities have risen rapidly this year, and natural gas is the leader among them, becoming the commodity with the largest increase this year.</p><p>According to CCTV News, market data shows that the price of liquefied natural gas in Asia has soared nearly six times in the past year; The increase of natural gas in Europe is even more alarming, with prices in July increasing more than 10 times compared with May last year; Even the United States, which is rich in natural gas resources, could not withstand it. By August 18, it rose to US $4.2 per million British thermal units, twice that of last year. Recently, gas prices have hit their highest level in the past 10 years.</p><p>Natural gas prices soar, how is the performance of A-share gas companies? What will be the follow-up trend of the stock prices of these companies?</p><p><h2>Progress of domestic natural gas industry in the first half of the year</h2>According to<a href=\"https://laohu8.com/S/601162\">Tianfeng Securities</a>Research report,<b>In the first half of 2021, domestic natural gas demand grew rapidly under the background of \"carbon neutrality\" and \"coal-to-gas\", with total apparent consumption reaching 185.1 billion cubic meters, a year-on-year increase of 16%.</b></p><p>Wherein,<b>LNG (liquefied natural gas) imports increased by 26%. The main reason is that under the background of rapid growth in overall demand, domestic gas volume and pipeline imported gas volume have certain supply rigidity, and the elastic part can only be made up by LNG imports.</b></p><p>Under the background of \"coal to gas\" industry, industrial and commercial gas is the key factor driving the growth of overall gas volume.</p><p>However, after a period of rapid growth and speculation, there is also a risk of a significant slowdown in the growth rate of domestic natural gas market demand:</p><p>First, the international LNG spot price fluctuates too much, which will affect the demand stability of downstream companies; Second, under the new situation of increasing gas price fluctuations, ineffective corporate hedging has led to increased profit volatility.</p><p>However, in the context of rapid growth in demand and high gas source prices, there are also some growing pains-gas companies have experienced a slight gross margin compression. However, it is worth noting that benefiting from the increase in gas volume, the costs of leading companies have been diluted.</p><p><h2>Retail gas volume and gross difference of leading gas companies</h2><b>Overall, under the background of rapid growth of the industry, the growth rate of leading gas companies is higher than the industry level.</b></p><p>Tianfeng Securities research report shows that,<a href=\"https://laohu8.com/S/02688\">ENN Energy</a>Retail gas volume in the first half of the year was 12.4 billion cubic meters, +22% year-on-year;<a href=\"https://laohu8.com/S/01193\">China Resources Gas</a>Retail gas volume in the first half of the year was 13.3 billion cubic meters, +30% year-on-year;<a href=\"https://laohu8.com/S/00135\">Kunlun Energy</a>In the first half of the year, retail gas volume was 12 billion cubic meters, +20% year-on-year.</p><p><img src=\"https://static.tigerbbs.com/48478ea34256871597c76f7c97ae61a7\" tg-width=\"667\" tg-height=\"370\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Specific to the company's financial data,<b>The narrowing range of EBIT (profit before tax and interest) corresponding to unilateral gas is significantly smaller than the narrowing range of gross difference.</b></p><p>Changes in gross difference of major city gas companies in 2021H1 (unit: 100 million cubic meters):</p><p><img src=\"https://static.tigerbbs.com/6b45ce0fc19352b8ecc7f63dac39c7ac\" tg-width=\"854\" tg-height=\"426\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>For example, in ENN Energy's natural gas retail business segment, the gross gas difference per cubic meter dropped from 0.61 yuan/m3 in 2020H1 to 0.56 yuan/m3 in 2021H1,-0.05 yuan/m3 year-on-year; The EBIT level of unilateral gas dropped from 0.30 yuan/m3 to 0.27 yuan/m3, a year-on-year decrease of 0.03 yuan/m3, which was less than the narrowing of the gross difference.</p><p><img src=\"https://static.tigerbbs.com/0a1ddf5f910ff3d557248d455bf6ef60\" tg-width=\"656\" tg-height=\"605\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><h2><b>LGN data and future growth</b></h2><b>Tianfeng Securities believes that gas companies should pay more attention to the growth of their gas volume rather than the fluctuation of price difference.</b></p><p>In terms of LGN's data and competitiveness:</p><p><b><a href=\"https://laohu8.com/S/600803\">ENN shares</a></b>It hosted the Zhoushan LNG receiving station and obtained the window period right to use the LNG receiving station of the National Pipeline Network Company. The terminal's processing capacity in the first half of the year was 1.84 million tons, of which 52% was liquid out, with a full-year target of 4.5 million tons. After the completion of the second phase of Q2 this year, the processing capacity is expected to reach 8 million tons in 2023.</p><p>In addition, the company is applying for approval for the third phase of capacity expansion, and is expected to receive approval by the end of 2021 to build Zhoushan into an LNG trading center in Northeast Asia.</p><p><b>Kunlun Energy</b>It has two LNG import terminals in Tangshan and Rudong, each with a loading and unloading capacity of 6.5 million tons. In the first half of 2021, the average load factor of the two receiving stations was as high as 84%, a significant year-on-year increase of 18.6 pct; LNG gasification volume and loading volume totaled 7.5 billion cubic meters, +28% year-on-year.</p><p>It may also be seen from the utilization rate of receiving stations announced by Kunlun Energy that the utilization rate of LNG import terminals increased significantly in the first half of the year. In addition, major listed companies expressed their emphasis on LNG gas sources in the release of interim results, including the window period of the LNG receiving station of the National Pipeline Network Company. Utilizing the window period and other diversified LNG gas sources is also the future gas company. layout direction.</p><p><img src=\"https://static.tigerbbs.com/055345b16596d1a9e0bfd2734eb882f5\" tg-width=\"670\" tg-height=\"175\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b><a href=\"https://laohu8.com/S/00384\">China Gas</a></b>Although there are currently no self-operated LNG receiving stations. However, it proposed at the performance meeting that the national pipeline network company should cooperate during the window period and explore LNG pipeline gas exchange. China Gas is<a href=\"https://laohu8.com/S/CEO\">CNOOC</a>The largest LNG distributor has established a joint venture company in Guangdong Province, targeting industrial users in the Greater Bay Area to convert coal to gas, with the goal of becoming the largest LNG liquid distribution company in China. In fiscal year 21/22, 4.5-5 million tons of LNG sales are planned. In cooperation with the National Pipeline Network Company, during the window period of the LNG terminal, it is planned to import 700-1 million tons of LNG in 2021.</p><p><img src=\"https://static.tigerbbs.com/e9438db04453bc7db61f38421aea16da\" tg-width=\"664\" tg-height=\"471\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>China Resources Gas</b>In the first half of 2021, pipeline gas procurement accounted for 88.0%, a year-on-year increase of 1.0 percentage points; LNG procurement accounted for 10.4%, a year-on-year decrease of 1.0 percentage points. During the window period, 160 million cubic meters of international LNG were purchased to optimize gas source procurement costs.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3639103\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/96e30cfe5645b7e4a87e1527e86da349","relate_stocks":{"UGAZ":"三倍做多天然气ETN(VelocityShares)","DGAZ":"三倍做空天然气ETN(VelocityShares)","UNG":"美国天然气基金"},"source_url":"https://wallstreetcn.com/articles/3639103","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162075282","content_text":"在通胀和碳中和等种因素和背景的叠加下，今年以来大宗商品涨势如虹，而天然气更是个中翘楚，成为了今年年内涨幅最大的大宗商品。\n据央视新闻，市场数据显示，过去一年里，亚洲的液化天然气价格暴涨近6倍；欧洲天然气涨幅更为惊人，7月份价格较去年5月份相比增长超过10倍；就连天然气资源丰富的美国也顶不住了，到8月18日，涨到了每百万英热单位4.2美元，是去年的2倍，日前气价已创下近10年来最高水平。\n天然气价格飙升，A股燃气公司业绩表现如何？这些公司的股价后续走势又将如何？\n上半年国内天然气行业进展\n据天风证券研究报告，2021 年上半年，国内天然气需求在“碳中和”和“煤改气”背景下快速增长，总表观消费量达到 1851 亿方，同比增幅 16%。\n其中，LNG（液化天然气）进口量增加了 26%。主要原因是，总体需求高速增长背景下，国产气量和管道进口气量具有一定的供给刚性，弹性部分只能由 LNG 进口补足。\n“煤改气”的行业背景下，工商气是拉动总体气量增长的关键因素。\n不过在一段时间的高速增长和炒作后，国内天然气市场需求增速也存在显著放缓的风险：\n一是国际 LNG 现货价格波动过大，将影响下游企业需求稳定性；二是气价波动加强的新形势下，企业套保不力导致盈利波动性增强。\n不过在需求高速增长、气源价格高企的背景下，同样也出现了一些成长的烦恼——燃气公司出现小幅的毛差压缩。不过值得注意的是，受益气量增长，龙头公司的成本费用得以摊薄。\n龙头燃气公司零售气量及毛差情况\n总体来看，在行业快速增长的背景下，龙头燃气公司体现出来的增速更是高于行业水平。\n天风证券研报显示，新奥能源上半年零售气量 124 亿方，同比+22%；华润燃气上半年零售气量 133 亿方，同比+30%；昆仑能源上半年零售气量120 亿方，同比+20%。\n\n具体到公司财务数据，单方气对应的 EBIT（税前息前利润）缩窄幅度明显小于毛差的缩窄幅度。\n主要城市燃气公司 2021H1 毛差变化情况（单位：亿方）：\n\n比如，新奥能源的天然气零售业务板块，单方气毛差从 2020H1 的 0.61 元/方下降到 2021H1 的 0.56 元/方，同比-0.05 元/方； 而单方气的 EBIT 水平从 0.30 元/方下降到 0.27 元/方，同比降幅 0.03 元/方，小于毛差的缩窄幅度。\n\nLGN 数据和未来成长性\n天风证券认为，对于燃气公司，应更重视其气量的成长性，而非价差波动。\n在 LGN 的数据和竞争力上：\n新奥股份托管了舟山 LNG 接收站，并获得了国家管网公司 LNG 接收站的窗口期使用权。该接收站上半年处理量 184 万吨，其中 52%液态出，全年目标 450 万吨。今年 Q2 二期建设完成后，预计2023 年处理能力达到 800 万吨。\n此外，公司正在申请三期扩能审批，有望在 2021 年底拿到核准，把舟山打造成东北亚 LNG 交易中心。\n昆仑能源拥有唐山和如东两个 LNG 进口终端，接卸能力均为 650 万吨。2021 上半年， 两个接收站平均负荷率高达 84%，同比大幅+18.6pct；LNG 气化量和装车量共 75 亿方，同比+28%。\n从昆仑能源公布的接收站使用率也可能看出，上半年 LNG 进口终端使用率大幅提升。此外，主要上市公司在中期业绩发布中，表示了对 LNG 气源的重视，包括对国家管网公司 LNG 接收站窗口期的重视，利用窗口期和其他多元化的 LNG 气源，也是未来燃气公司的布局方向。\n\n中国燃气虽然目前没有自营的 LNG 接收站。但其在业绩会上提出，国家管网公司窗口期合作，LNG 管道气串换探索。中燃是中海油最大的 LNG 分销商，在广东省成立 了合资公司，瞄准大湾区工业用户煤改气，目标是成为中国最大的 LNG 液态分销企业。 21/22 财年计划 450-500 万吨 LNG 销量。与国家管网公司合作，LNG 码头的窗口期，2021 年计划进口 LNG70-100 万吨。\n\n华润燃气2021 上半年，管道气采购占比 88.0%，同比上升 1.0 个百分点；LNG 采购占比 10.4%，同比下降 1.0 个百分点。窗口期采购国际 LNG1.6 亿方，优化气源采购成本。","news_type":1,"symbols_score_info":{"UGAZ":0.9,"DGAZ":0.9,"NGmain":0.9,"UNG":0.9,"QGmain":0.9}},"isVote":1,"tweetType":1,"viewCount":458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}