thomaschai personal page - To The Moon

thomaschai

thomaschai

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2023-04-13

Very good very good

2023-04-13

$特斯拉(TSLA)$ hhhhhhhhh

2023-04-13

Good good good good

2022-12-22

ZZZ7,/ok,

Is Hong Kong stocks doing well again? The Hang Seng Tech Index surged by 5% at one point. What will be the key factor to watch next?

2022-02-23

Ggggg

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2022-02-23

Gg

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2022-02-04

I

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2022-01-24

Hhhhh

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2021-09-14

Hh

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2021-09-14

Jj

Is the US stock market also needing a style shift? JPMorgan Chase: Reduce technology holdings and increase pro-cyclical holdings!

2021-09-14

Jjjjj

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2021-09-14

Iiiiiiiiiii

Chuangsheng Group-B begins its IPO today, with an entry fee of HK$8,080.62.

2021-09-14

hh

Can you understand Pop Mart, a theme park?

2021-09-14

jj

Chuangsheng Group-B begins its IPO today, with an entry fee of HK$8,080.62.

2021-09-08

Jj

Goldman Sachs has been bearish on the US three times, while the S&P 500 has dismissed it.

2021-09-02

Jj

Apple's ultimate product from the Cook era has been revealed! Unprecedented blockbuster new product categories

2021-08-26

Hh

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2021-08-23

Jj

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2021-08-22

Jsjsj

Maybe on Monday! Pfizer vaccine will be fully approved in the United States

2021-08-20

Hh

Douyin made Meituan uncomfortable, but not because it was tempted by food delivery.

Go to Tiger App to see more news

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good very good&nbsp;","listText":"Very good very good&nbsp;","text":"Very good very good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945301093","isVote":1,"tweetType":1,"viewCount":4575,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945977416,"gmtCreate":1681363018136,"gmtModify":1681363020829,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a>hhhhhhhhh","listText":"<a href=\"https://ttm.financial/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a>hhhhhhhhh","text":"$特斯拉(TSLA)$ hhhhhhhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945977416","isVote":1,"tweetType":1,"viewCount":4810,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945977281,"gmtCreate":1681363000643,"gmtModify":1681363004154,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Good good good good&nbsp;","listText":"Good good good good&nbsp;","text":"Good good good good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945977281","isVote":1,"tweetType":1,"viewCount":5016,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9922394013,"gmtCreate":1671684827532,"gmtModify":1676538576154,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"ZZZ7,/ok,&nbsp;&nbsp;","listText":"ZZZ7,/ok,&nbsp;&nbsp;","text":"ZZZ7,/ok,","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9922394013","repostId":"2293725143","repostType":2,"repost":{"id":"2293725143","kind":"highlight","pubTimestamp":1671680253,"share":"https://ttm.financial/m/news/2293725143?lang=en_US&edition=fundamental","pubTime":"2022-12-22 11:37","market":"hk","language":"zh","title":"Is Hong Kong stocks doing well again? The Hang Seng Tech Index surged by 5% at one point. What will be the key factor to watch next?","url":"https://stock-news.laohu8.com/highlight/detail?id=2293725143","media":"格隆汇","summary":"珍惜复苏的窗口期","content":"<p><html><head></head><body>Several major positive news items were released after yesterday's market close, and Hong Kong stocks made a comeback today, opening higher and continuing to rise. The Hang Seng Tech Index surged by 5% at one point, and the Hang Seng Index rose 529 points, or 2.74%, to 19,683 points. The China National Data Index rose more than 3%</p><p><img src=\"https://static.tigerbbs.com/e2e6b89b12b8e9c1d668f0dd150cacf2\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>In terms of news, aided by<a href=\"https://laohu8.com/S/NKE\">Nike</a>(Nike) and<a href=\"https://laohu8.com/S/FDX\">FedEx</a>The company announced optimistic quarterly earnings, along with improved consumer confidence and lower investor inflation expectations. The three major U.S. stock indexes closed higher on Wednesday, with all three gaining more than 1%, marking their biggest single-day increase since December, while Chinese concept stocks surged nearly 4%.</p><p>There have also been a number of positive developments in terms of policy. The China Securities Regulatory Commission proposed to promote<b>Establish a normalized cooperation mechanism for auditing and supervision between China and the United States to accelerate the implementation of \"green light\" cases for platform companies to list overseas.</b>； The State Council executive meeting emphasized adhering to the \"two unwavering principles\".<b>Support private enterprises in boosting their confidence and achieving better development. Support the healthy and sustainable development of the platform</b></p><p><h3>Hong Kong stocks have recently consolidated at high levels.</h3>Hong Kong stocks' three major indices closed higher yesterday, showing signs of bottoming out after a sharp drop the previous day. However, due to the strong rebound in Hong Kong stocks after the optimization of epidemic prevention measures in November, the Hang Seng Tech Index rose by as much as 50%. Subsequently, funds chose to take profits and leave the market to observe.</p><p>The overall market sentiment plummeted as there were no new hot topics, with Hong Kong stock trading volume falling to less than 70 billion yuan yesterday, at only 69.2 billion yuan. Coupled with the unexpected and sudden \"hawkish\" turn by the Bank of Japan, there are no clearly outstanding sectors in the Hong Kong stock market due to the limitation of existing funds.</p><p>With the successive implementation of the \"Twenty Measures\" and the \"New Ten Measures\" for epidemic prevention, the marginal improvement effect brought about by further policy adjustments will also decrease, and the market will...<b>The most pressing issue at present is the recovery of economic activity in the short term under the impact of the pandemic.</b></p><p><b>Looking ahead to the first quarter, besides the possibility of customs clearance with Hong Kong, we can only hope that social activities will return to normal.</b>The catering and tourism sector recovered first, so the sector was quite active yesterday, and holiday-related stocks continued to rise today.<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Up more than 14%,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>It rose more than 10%.<a href=\"https://laohu8.com/S/01579\">Yihai International</a>It rose nearly 7%, Meituan rose more than 5%, and Huazhu Group and Tongcheng Travel followed suit.</p><p><img src=\"https://static.tigerbbs.com/b9feb0c63763f96a551e877ae5db663c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On December 21, Xiabuxiabu Group disclosed the latest dine-in consumption situation. Xiabuxiabu's North China market ushered in its first mini-peak in consumption after the resumption of dine-in, and some restaurants saw a rapid recovery in customer traffic, with scenes of queuing and waiting for a table reappearing.</p><p>According to Haidilao, customer traffic at its stores is gradually recovering. Starting from December 16, customer traffic began to rebound, and in the past few days, customer traffic has increased by nearly 50% compared to the same period last week. Haidilao stated that it expects the market to continue to recover in the next two weeks, especially during holidays such as weekends, Christmas, and New Year's Day, which will see a peak.</p><p><h3>The China Securities Regulatory Commission (CSRC) and the State</h3>In addition, after the market closed yesterday, the China Securities Regulatory Commission (CSRC) and the State Council both issued new support measures regarding the real estate and platform economy.</p><p>The China Securities Regulatory Commission (CSRC) held a meeting emphasizing the need to expand high-level institutional opening-up<b>Promote the expansion of the targets and optimization of the trading calendar for the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect.</b></p><p><b>Regarding Sino-US audits,</b>The China Securities Regulatory Commission (CSRC) pointed out that it will promote the formation of a normalized cooperation mechanism for audit supervision between China and the United States to create a more stable and predictable international regulatory cooperation environment. Promote the implementation of reforms to the overseas listing system for enterprises and accelerate the implementation of \"green light\" cases for overseas listing of platform enterprises. We will deepen pragmatic cooperation between the capital markets of the mainland and Hong Kong and support Hong Kong in consolidating its status as an international financial center.</p><p>It is worth mentioning that on the morning of December 15 local time, the US PCAOB released a report confirming that it could complete inspections and investigations of accounting firms in mainland China and Hong Kong in 2022, and revoked the designation made against the relevant firms in 2021. The market generally believes that this marks a positive achievement in Sino-US audit and regulatory cooperation and sends a positive signal to Chinese companies listing in the US.</p><p><b>In addition, the State Council executive meeting reiterated the need to adhere to the \"two unwavering principles\" and support private enterprises in boosting their confidence and achieving better development. Support the healthy and sustainable development of the platform</b></p><p>Xie Houqin, senior investment advisor at Jufeng Investment Consulting, believes that the implementation of various measures at the State Council executive meeting will help improve and promote stable economic development, and will play an important role in boosting private enterprises and market confidence. The meeting also mentioned \"supporting the healthy and sustainable development of the platform economy\". The platform economy is related to millions of jobs. After a period of regulatory governance, and with policy support, it is believed that platform economy companies will play a greater role in the future. Technology stocks surged across the board today.<a href=\"https://laohu8.com/S/09626\">Bilibili-W</a>The stock rose more than 9%, while Kuaishou, JD.com, and Meituan rose more than 5%, Baidu and Alibaba rose more than 4%, and NetEase and Tencent rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e559c00d1116c1165c5b7fac027a0b4c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Regarding real estate,</b>The China Securities Regulatory Commission (CSRC) held a meeting emphasizing its commitment to vigorously supporting the stable development of We will fully implement the plan to improve the balance sheets of high-quality real estate companies, continue to implement the special support plan and support tools for bond financing for private enterprises, and better promote cooperation between the central and local governments to enhance credit and jointly support private real estate companies in issuing bonds. Implement the existing equity financing policies for real estate companies.<b>Eligible real estate companies are allowed to \"backdoor\" with listed real estate companies, and listed companies in closely related industries such as real estate and construction are allowed to carry out real estate-related restructuring. Accelerate the development of the affordable rental housing REITs sector.</b></p><p>The People's Bank of China held a meeting to emphasize supporting rigid and improved housing demand and guiding...<a href=\"https://laohu8.com/S/FISI\">Financial institutions</a>Support restructuring and mergers and acquisitions in the real estate industry, promote the prevention and resolution of risks for high-quality leading real estate companies, and improve the asset and liability situation of leading real estate companies.</p><p>Benefiting from this, mainland property stocks opened higher and continued to rise.<a href=\"https://laohu8.com/S/03301\">Ronshine China</a>Zhenro Properties rose over 22%, while Zhenro Properties rose over 8%.</p><p>The surge in technology stocks, mainland property stocks, and consumer stocks such as catering led to impressive gains in the three major Hong Kong stock indices.<b>This is because sectors such as finance, real estate, and technology account for a large proportion of the constituent stocks of the Hang Seng Index.</b></p><p>According to the quarterly results of the Hang Seng Index in the third quarter, in terms of industry breakdown, the proportion of the financial sector in the Hang Seng Index decreased from 34.66% to 33.98%, utilities decreased from 3.21% to 3.13%, real estate rose from 7.03% to 7.05%, and industrial and commercial enterprises rose from 55.1% to 55.84%.</p><p><img src=\"https://static.tigerbbs.com/bf533c5f1d91a3f8e56307f495b09cd3\" tg-width=\"1156\" tg-height=\"727\" referrerpolicy=\"no-referrer\"/></p><p>Source: CICC Securities</p><p>Following this adjustment, the coverage of real estate and construction, as well as non-essential and essential consumption, increased from 48.1% and 48.4% to 50.5% and 50.7%, respectively. The market capitalization of the new economy in the Hang Seng Index reached 48%. Therefore, from a micro perspective, news about the new economy, real estate, and finance has a significant impact on the performance of Hong Kong stocks.</p><p><h3>How should we assess its subsequent investment value?</h3>Overall, with improved expectations for overseas liquidity, domestic economic conditions, and macroeconomic policy factors, most securities analysts believe that Hong Kong stocks offer excellent value for money and are expected to perform promisingly next year.</p><p>Ping An Securities analysts predict that the Hang Seng Index will reach a high of 23,000-25,000 next year, and recommend allocating to high-quality Hong Kong stocks on dips.</p><p><a href=\"https://laohu8.com/S/000750\">Guohai Securities</a>We believe that with positive signals from internal policies and the gradual weakening of the impact of the Federal Reserve's rate hike, we are optimistic about the boost to internet performance following the recovery of external factors, the subsequent pandemic, and marginal improvement in the macroeconomy. We maintain our \"Buy\" rating on the industry.</p><p><a href=\"https://laohu8.com/S/601878\">Zhejiang Securities</a>The report states that 2023 will be a year of double-digit growth for the internet sector, with both profits and valuations expected to exceed expectations.</p><p>In addition, foreign institutions also recommend overweighting the Chinese stock market. JPMorgan predicts that the MSCI China Index has 10% upside potential in 2023;<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>They believe that Chinese stocks will outperform other markets in 2023 and recommend increasing their holdings. Morgan Stanley is once again bullish on the Chinese stock market after nearly two years, raising its target level for the Hang Seng Index from 18,200 points to 21,200 points.</p><p></body></html></p>","source":"gelonghui_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Hong Kong stocks doing well again? The Hang Seng Tech Index surged by 5% at one point. 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The Hang Seng Tech Index surged by 5% at one point. What will be the key factor to watch next?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">格隆汇</strong><span class=\"h-time small\">2022-12-22 11:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Several major positive news items were released after yesterday's market close, and Hong Kong stocks made a comeback today, opening higher and continuing to rise. The Hang Seng Tech Index surged by 5% at one point, and the Hang Seng Index rose 529 points, or 2.74%, to 19,683 points. The China National Data Index rose more than 3%</p><p><img src=\"https://static.tigerbbs.com/e2e6b89b12b8e9c1d668f0dd150cacf2\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>In terms of news, aided by<a href=\"https://laohu8.com/S/NKE\">Nike</a>(Nike) and<a href=\"https://laohu8.com/S/FDX\">FedEx</a>The company announced optimistic quarterly earnings, along with improved consumer confidence and lower investor inflation expectations. The three major U.S. stock indexes closed higher on Wednesday, with all three gaining more than 1%, marking their biggest single-day increase since December, while Chinese concept stocks surged nearly 4%.</p><p>There have also been a number of positive developments in terms of policy. The China Securities Regulatory Commission proposed to promote<b>Establish a normalized cooperation mechanism for auditing and supervision between China and the United States to accelerate the implementation of \"green light\" cases for platform companies to list overseas.</b>； The State Council executive meeting emphasized adhering to the \"two unwavering principles\".<b>Support private enterprises in boosting their confidence and achieving better development. Support the healthy and sustainable development of the platform</b></p><p><h3>Hong Kong stocks have recently consolidated at high levels.</h3>Hong Kong stocks' three major indices closed higher yesterday, showing signs of bottoming out after a sharp drop the previous day. However, due to the strong rebound in Hong Kong stocks after the optimization of epidemic prevention measures in November, the Hang Seng Tech Index rose by as much as 50%. Subsequently, funds chose to take profits and leave the market to observe.</p><p>The overall market sentiment plummeted as there were no new hot topics, with Hong Kong stock trading volume falling to less than 70 billion yuan yesterday, at only 69.2 billion yuan. Coupled with the unexpected and sudden \"hawkish\" turn by the Bank of Japan, there are no clearly outstanding sectors in the Hong Kong stock market due to the limitation of existing funds.</p><p>With the successive implementation of the \"Twenty Measures\" and the \"New Ten Measures\" for epidemic prevention, the marginal improvement effect brought about by further policy adjustments will also decrease, and the market will...<b>The most pressing issue at present is the recovery of economic activity in the short term under the impact of the pandemic.</b></p><p><b>Looking ahead to the first quarter, besides the possibility of customs clearance with Hong Kong, we can only hope that social activities will return to normal.</b>The catering and tourism sector recovered first, so the sector was quite active yesterday, and holiday-related stocks continued to rise today.<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Up more than 14%,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>It rose more than 10%.<a href=\"https://laohu8.com/S/01579\">Yihai International</a>It rose nearly 7%, Meituan rose more than 5%, and Huazhu Group and Tongcheng Travel followed suit.</p><p><img src=\"https://static.tigerbbs.com/b9feb0c63763f96a551e877ae5db663c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On December 21, Xiabuxiabu Group disclosed the latest dine-in consumption situation. Xiabuxiabu's North China market ushered in its first mini-peak in consumption after the resumption of dine-in, and some restaurants saw a rapid recovery in customer traffic, with scenes of queuing and waiting for a table reappearing.</p><p>According to Haidilao, customer traffic at its stores is gradually recovering. Starting from December 16, customer traffic began to rebound, and in the past few days, customer traffic has increased by nearly 50% compared to the same period last week. Haidilao stated that it expects the market to continue to recover in the next two weeks, especially during holidays such as weekends, Christmas, and New Year's Day, which will see a peak.</p><p><h3>The China Securities Regulatory Commission (CSRC) and the State</h3>In addition, after the market closed yesterday, the China Securities Regulatory Commission (CSRC) and the State Council both issued new support measures regarding the real estate and platform economy.</p><p>The China Securities Regulatory Commission (CSRC) held a meeting emphasizing the need to expand high-level institutional opening-up<b>Promote the expansion of the targets and optimization of the trading calendar for the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect.</b></p><p><b>Regarding Sino-US audits,</b>The China Securities Regulatory Commission (CSRC) pointed out that it will promote the formation of a normalized cooperation mechanism for audit supervision between China and the United States to create a more stable and predictable international regulatory cooperation environment. Promote the implementation of reforms to the overseas listing system for enterprises and accelerate the implementation of \"green light\" cases for overseas listing of platform enterprises. We will deepen pragmatic cooperation between the capital markets of the mainland and Hong Kong and support Hong Kong in consolidating its status as an international financial center.</p><p>It is worth mentioning that on the morning of December 15 local time, the US PCAOB released a report confirming that it could complete inspections and investigations of accounting firms in mainland China and Hong Kong in 2022, and revoked the designation made against the relevant firms in 2021. The market generally believes that this marks a positive achievement in Sino-US audit and regulatory cooperation and sends a positive signal to Chinese companies listing in the US.</p><p><b>In addition, the State Council executive meeting reiterated the need to adhere to the \"two unwavering principles\" and support private enterprises in boosting their confidence and achieving better development. Support the healthy and sustainable development of the platform</b></p><p>Xie Houqin, senior investment advisor at Jufeng Investment Consulting, believes that the implementation of various measures at the State Council executive meeting will help improve and promote stable economic development, and will play an important role in boosting private enterprises and market confidence. The meeting also mentioned \"supporting the healthy and sustainable development of the platform economy\". The platform economy is related to millions of jobs. After a period of regulatory governance, and with policy support, it is believed that platform economy companies will play a greater role in the future. Technology stocks surged across the board today.<a href=\"https://laohu8.com/S/09626\">Bilibili-W</a>The stock rose more than 9%, while Kuaishou, JD.com, and Meituan rose more than 5%, Baidu and Alibaba rose more than 4%, and NetEase and Tencent rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e559c00d1116c1165c5b7fac027a0b4c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Regarding real estate,</b>The China Securities Regulatory Commission (CSRC) held a meeting emphasizing its commitment to vigorously supporting the stable development of We will fully implement the plan to improve the balance sheets of high-quality real estate companies, continue to implement the special support plan and support tools for bond financing for private enterprises, and better promote cooperation between the central and local governments to enhance credit and jointly support private real estate companies in issuing bonds. Implement the existing equity financing policies for real estate companies.<b>Eligible real estate companies are allowed to \"backdoor\" with listed real estate companies, and listed companies in closely related industries such as real estate and construction are allowed to carry out real estate-related restructuring. Accelerate the development of the affordable rental housing REITs sector.</b></p><p>The People's Bank of China held a meeting to emphasize supporting rigid and improved housing demand and guiding...<a href=\"https://laohu8.com/S/FISI\">Financial institutions</a>Support restructuring and mergers and acquisitions in the real estate industry, promote the prevention and resolution of risks for high-quality leading real estate companies, and improve the asset and liability situation of leading real estate companies.</p><p>Benefiting from this, mainland property stocks opened higher and continued to rise.<a href=\"https://laohu8.com/S/03301\">Ronshine China</a>Zhenro Properties rose over 22%, while Zhenro Properties rose over 8%.</p><p>The surge in technology stocks, mainland property stocks, and consumer stocks such as catering led to impressive gains in the three major Hong Kong stock indices.<b>This is because sectors such as finance, real estate, and technology account for a large proportion of the constituent stocks of the Hang Seng Index.</b></p><p>According to the quarterly results of the Hang Seng Index in the third quarter, in terms of industry breakdown, the proportion of the financial sector in the Hang Seng Index decreased from 34.66% to 33.98%, utilities decreased from 3.21% to 3.13%, real estate rose from 7.03% to 7.05%, and industrial and commercial enterprises rose from 55.1% to 55.84%.</p><p><img src=\"https://static.tigerbbs.com/bf533c5f1d91a3f8e56307f495b09cd3\" tg-width=\"1156\" tg-height=\"727\" referrerpolicy=\"no-referrer\"/></p><p>Source: CICC Securities</p><p>Following this adjustment, the coverage of real estate and construction, as well as non-essential and essential consumption, increased from 48.1% and 48.4% to 50.5% and 50.7%, respectively. The market capitalization of the new economy in the Hang Seng Index reached 48%. Therefore, from a micro perspective, news about the new economy, real estate, and finance has a significant impact on the performance of Hong Kong stocks.</p><p><h3>How should we assess its subsequent investment value?</h3>Overall, with improved expectations for overseas liquidity, domestic economic conditions, and macroeconomic policy factors, most securities analysts believe that Hong Kong stocks offer excellent value for money and are expected to perform promisingly next year.</p><p>Ping An Securities analysts predict that the Hang Seng Index will reach a high of 23,000-25,000 next year, and recommend allocating to high-quality Hong Kong stocks on dips.</p><p><a href=\"https://laohu8.com/S/000750\">Guohai Securities</a>We believe that with positive signals from internal policies and the gradual weakening of the impact of the Federal Reserve's rate hike, we are optimistic about the boost to internet performance following the recovery of external factors, the subsequent pandemic, and marginal improvement in the macroeconomy. We maintain our \"Buy\" rating on the industry.</p><p><a href=\"https://laohu8.com/S/601878\">Zhejiang Securities</a>The report states that 2023 will be a year of double-digit growth for the internet sector, with both profits and valuations expected to exceed expectations.</p><p>In addition, foreign institutions also recommend overweighting the Chinese stock market. JPMorgan predicts that the MSCI China Index has 10% upside potential in 2023;<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>They believe that Chinese stocks will outperform other markets in 2023 and recommend increasing their holdings. Morgan Stanley is once again bullish on the Chinese stock market after nearly two years, raising its target level for the Hang Seng Index from 18,200 points to 21,200 points.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.gelonghui.com/p/570137\">格隆汇</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cc3c5eecabc22a565a773e3dd9ba0631","relate_stocks":{"513600":"恒生指数ETF南方","HSI":"恒生指数","02833":"恒指ETF","HSTECH":"恒生科技指数"},"source_url":"https://www.gelonghui.com/p/570137","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2293725143","content_text":"昨日盘后多项重磅利好落地，今日港股“咸鱼翻生”，高开高走，恒生科技指数一度飙涨5%，恒指上涨529点，或2.74%，报19683点。国指涨超3%。消息面上，受助于耐克(Nike)和联邦快递公布乐观的季度盈利，以及消费信心改善和投资者的通胀预期下降。美国股市三大股指周三收高，三大指数均涨超1%，创12月迄今最大单日涨幅，中概股大涨近4%。政策面也迎来多项利好消息。证监会提出推动形成中美审计监管常态化合作机制，加快平台企业境外上市“绿灯”案例落地；国常会强调坚持“两个毫不动摇”，支持民营企业提振信心、更好发展。支持平台经济健康持续发展。港股近日高位盘整港股昨日三大指数震荡收涨，继前一日大跌后有止跌迹象。但由于港股在11月的疫情防疫优化后强势反弹，恒生科指累计涨幅甚至高达50%随后资金纷纷选择获利了结，离场观望。整个市场气氛随着没有新热点而急降，昨日港股成交跌至不足700亿，仅有692亿元。叠加日本央行出人意料突然“转鹰”带来的资金回流，因此在存量资金的限制下，整个港股并没有明显的亮眼板块。随着防疫政策“二十条”以及“新十条”的陆续落地，后续政策的进一步调整带来的边际改善效应也会有所减小，市场目前最为关注的是在短期在疫情的冲击下，社会面的经济活动的回恢复情况。展望一季度，除了存在与香港通关的可能性外，能寄望的就是社会面活动恢复正常，这当中先复苏的是餐饮旅游，所以该板块昨日相当活跃，今日假日概念股持续拉升，呷哺呷哺涨超14%，海底捞涨超10%，颐海国际涨近7%，美团涨超5%，华住集团、同程旅行等跟涨。12月21日，呷哺集团披露最新堂食消费情况，呷哺华北市场迎来恢复堂食的首个消费小高峰，部分餐厅客流迅速回暖，重现排队等位的场景。据海底捞介绍，门店的客流量正在逐步恢复，12月16日起客流开始出现回升，这几天客流量较上周同期增长近五成。海底捞表示，预计未来2周会持续回暖，尤其是像周末、圣诞节、元旦节这样的节假日，会迎来一波高峰期。证监会、国常会重磅发声另外，昨日盘后，证监会、国常会关于房地产、平台经济均有最新的的支持措施。证监会召开会议强调，扩大资本市场高水平制度型开放。推动沪深港通互联互通扩大标的、优化交易日历落地。中美审计方面，证监会指出推动形成中美审计监管常态化合作机制，营造更加稳定、可预期的国际监管合作环境。推动企业境外上市制度改革落地实施，加快平台企业境外上市“绿灯”案例落地。深化内地与香港资本市场务实合作，支持香港巩固国际金融中心地位。值得一提的还是，当地时间12月15日上午，美PCAOB发布报告，确认2022年度可以对中国内地和香港会计师事务所完成检查和调查，撤销2021年对相关事务所作出的认定。市场普遍认为这标志着中美审计监管合作取得积极成效，对中国企业在美上市释放出积极信号。另外，国务院常务会议再度强调坚持“两个毫不动摇”，支持民营企业提振信心、更好发展。支持平台经济健康持续发展。巨丰投顾高级投资顾问谢后勤认为，国常会各项措施的实施将有助于改善和促进经济的平稳发展，对提振民营企业和市场信心有重要作用。本次会议还提到“支持平台经济健康持续发展”。平台经济背后关系到千千万万的就业岗位。在经过过去一段时间的监管治理之后，在政策支持下，相信未来平台经济企业将会发挥更大作用。今日科技股全面爆发，哔哩哔哩-W涨超9%，快手、京东、美团涨超5%，百度、阿里巴巴涨超4%，网易、腾讯涨超3%。关于房地产，证监会召开会议强调，大力支持房地产市场平稳发展。全面落实改善优质房企资产负债表计划，继续实施民企债券融资专项支持计划和支持工具，更好推进央地合作增信共同支持民营房企发债。落实好已出台的房企股权融资政策，允许符合条件的房企“借壳”已上市房企，允许房地产和建筑等密切相关行业上市公司实施涉房重组。加快打造保障性租赁住房REITs板块。央行召开会议强调，支持刚性和改善性住房需求，引导金融机构支持房地产行业重组并购，推动防范化解优质头部房企风险，改善头部房企资产负债状况。受益于此，内房股高开高走。融信中国涨超22%，正荣地产涨超8%。科技股、内房股、餐饮等消费股的大涨带动港股三大指数涨幅亮眼。这是因为金融地产、科技等行业在恒指成分股的占比较大。根据恒指三季度的季检结果显示，从行业划分来看，金融业在恒指中的比重从34.66%降至33.98%，公用事业由3.21%降至3.13%，地产由7.03%升至7.05%，工商业由55.1%升至55.84%。来源：中金证券此次调整后，地产建筑业和非必需性和必需性消费的覆盖度分别从48.1%和48.4%提升至50.5%和50.7%。；恒指新经济市值占比达到48%。因此微观来看，有关于新经济、地产、金融等方面的消息对港股的走势影响较大。后续投资价值怎么看？整体上看，在海外流动性、国内经济状况、宏观政策因素等多方面预期转好的情况下，大多数券商分析师认为港股性价比凸显，料明年走势充满希望。平安证券分析指，明年恒指高点在23000-25000之间，推荐逢低配置港股优质资产。国海证券认为在内部政策释放利好信号、美联储加息影响将逐渐减弱的情况下，看好外围因素回暖、后续疫情和宏观边际改善后的互联网业绩提振，维持行业“推荐”评级。浙商证券则表示，23年是互联网版块戴维斯双击之年，利润端和估值端都将有超预期表现。此外，外资机构同样建议超配中国股市。小摩预计2023年MSCI中国指数的上涨空间为10%；高盛则认为中国股票将在2023年跑赢其他市场，建议增持。大摩更是时隔近两年再次看多中国股市，将恒指的目标点位从18200点提高到21200点。","news_type":1,"symbols_score_info":{"513600":0.6,"HSI":1,"MCHmain":0.6,"02833":0.6,"HHImain":0.6,"HSTECH":0.9}},"isVote":1,"tweetType":1,"viewCount":4359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030902315,"gmtCreate":1645592714350,"gmtModify":1676534043747,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Ggggg","listText":"Ggggg","text":"Ggggg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030902315","repostId":"1120506339","repostType":4,"isVote":1,"tweetType":1,"viewCount":4609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030055023,"gmtCreate":1645584588382,"gmtModify":1676534042967,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030055023","repostId":"2213963135","repostType":4,"isVote":1,"tweetType":1,"viewCount":5104,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9091475137,"gmtCreate":1643935605952,"gmtModify":1676533873269,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize"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11:47","market":"us","language":"zh","title":"Is the US stock market also needing a style shift? JPMorgan Chase: Reduce technology holdings and increase pro-cyclical holdings!","url":"https://stock-news.laohu8.com/highlight/detail?id=2167535043","media":"华尔街见闻","summary":"自从美国经济复苏猛踩刹车以来，资金一度涌入科技股寻求庇护，但摩根大通却认为，是时候减仓科技股了。\n摩根大通Marko Kolanovic等分析师近日表示，市场对经济增长的恐慌有些过度了，Delta变种","content":"<p>Since the US economic recovery slammed on the brakes, funds have flooded into tech stocks seeking refuge, but<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>However, they believe it's time to reduce their holdings in technology stocks.</p><p>Analysts at JPMorgan Chase, including Marko Kolanovic, recently stated that market panic about economic growth is somewhat excessive, and the drag on the economy from the Delta variant virus may only be temporary. Investors should consider reducing their investments in technology stocks while increasing their holdings in economically sensitive cyclical sectors such as energy.</p><p>Although the pace of global economic reopening has been delayed due to the resurgence of the pandemic, data from JPMorgan Chase suggests that the outbreak caused by the Delta variant may have peaked and is subsiding in the United States and globally.</p><p>As the Delta impact subsides and inflation continues due to supply disruptions and monetary easing, we expect reflationary trading to outperform the broader market. JPMorgan Chase believes that bond yields and cyclical assets may have bottomed out early last month, and recommends increasing holdings in Japanese and emerging market stocks.</p><p>JPMorgan Chase's assessment of the economy stands in stark contrast to that of other investment banks.</p><p>Earlier this month,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>For the third time in less than March, the bank lowered its U.S. GDP forecast for this year. It expects that due to the rampant Delta variant of the COVID-19 virus, weakening government fiscal support, and a shift in demand from goods to services, U.S. consumers may reduce spending, making the consumption situation more severe than previously expected.</p><p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also significantly lowered its third-quarter US GDP forecast, from 6.5% to only 2.9%, while maintaining its fourth-quarter GDP forecast at 6.7%. After lowering its third-quarter GDP forecast, Morgan Stanley's full-year U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast this week.</p><p>Morgan Stanley stated that the lowered expectations were mainly due to the fact that economic growth momentum had been released ahead of schedule, the reduced impact of government stimulus spending on the economy, and the continued drag on the economy from supply chain bottlenecks, resulting in lower consumer spending on large durable goods such as automobiles.</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>Is the US stock market also needing a style shift? JPMorgan Chase: Reduce technology holdings and increase pro-cyclical holdings!</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\">\nIs the US stock market also needing a style shift? JPMorgan Chase: Reduce technology holdings and increase pro-cyclical holdings!\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\">2021-09-14 11:47</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Since the US economic recovery slammed on the brakes, funds have flooded into tech stocks seeking refuge, but<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>However, they believe it's time to reduce their holdings in technology stocks.</p><p>Analysts at JPMorgan Chase, including Marko Kolanovic, recently stated that market panic about economic growth is somewhat excessive, and the drag on the economy from the Delta variant virus may only be temporary. Investors should consider reducing their investments in technology stocks while increasing their holdings in economically sensitive cyclical sectors such as energy.</p><p>Although the pace of global economic reopening has been delayed due to the resurgence of the pandemic, data from JPMorgan Chase suggests that the outbreak caused by the Delta variant may have peaked and is subsiding in the United States and globally.</p><p>As the Delta impact subsides and inflation continues due to supply disruptions and monetary easing, we expect reflationary trading to outperform the broader market. JPMorgan Chase believes that bond yields and cyclical assets may have bottomed out early last month, and recommends increasing holdings in Japanese and emerging market stocks.</p><p>JPMorgan Chase's assessment of the economy stands in stark contrast to that of other investment banks.</p><p>Earlier this month,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>For the third time in less than March, the bank lowered its U.S. GDP forecast for this year. It expects that due to the rampant Delta variant of the COVID-19 virus, weakening government fiscal support, and a shift in demand from goods to services, U.S. consumers may reduce spending, making the consumption situation more severe than previously expected.</p><p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also significantly lowered its third-quarter US GDP forecast, from 6.5% to only 2.9%, while maintaining its fourth-quarter GDP forecast at 6.7%. After lowering its third-quarter GDP forecast, Morgan Stanley's full-year U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast this week.</p><p>Morgan Stanley stated that the lowered expectations were mainly due to the fact that economic growth momentum had been released ahead of schedule, the reduced impact of government stimulus spending on the economy, and the continued drag on the economy from supply chain bottlenecks, resulting in lower consumer spending on large durable goods such as automobiles.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3640337\">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/4ecccb954c9a03cd26d576ebec5c96d6","relate_stocks":{"JPM":"摩根大通"},"source_url":"https://wallstreetcn.com/articles/3640337","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167535043","content_text":"自从美国经济复苏猛踩刹车以来，资金一度涌入科技股寻求庇护，但摩根大通却认为，是时候减仓科技股了。\n摩根大通Marko Kolanovic等分析师近日表示，市场对经济增长的恐慌有些过度了，Delta变种病毒对经济的拖累可能只是暂时的，投资者应考虑减少对科技股的投资，同时增持能源等对经济敏感的周期性行业。\n尽管随着疫情复燃，全球经济重新开放的步伐被推迟了，但摩根大通的数据显示，由Delta变种病毒导致的疫情可能已经达到顶峰，在美国和全球范围内正在消退：\n\n 随着Delta影响消退，且由供应中断和货币宽松导致的通胀持续，我们预计再通胀交易表现将优于大盘。\n\n摩根大通认为，债券收益率和周期性资产可能已经在上月初触底，同时建议增持日本和新兴市场股票。\n摩根大通对经济的判断与其他投行形成鲜明对比。\n本月初，高盛在不到三月里，第三次下调今年美国GDP预期，该行预计由于新冠肺炎变种病毒德尔塔（Delta）病毒肆虐、政府的财政支持在减弱，加之需求从商品转换到服务，美国消费者可能减少支出，消费形势比之前预期的更严峻。\n摩根士丹利也大幅下调了三季度美国GDP预期，从6.5%猛砍至仅2.9%，四季度GDP预期维持在6.7%。下修三季度GDP预期后，摩根士丹利的美国今年全年GDP增速预期为5.6%，比高盛本周调降后的全年预期增速还低。\n摩根士丹利称，调降预期主要由于经济增长的动力已提前释放，政府刺激性支出对经济的推动减少，加之供应链瓶颈持续拖累经济，汽车等大件耐用品的消费者支出由此减少。","news_type":1,"symbols_score_info":{"JPM":0.9}},"isVote":1,"tweetType":1,"viewCount":4966,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886530037,"gmtCreate":1631603216129,"gmtModify":1676530587288,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Jjjjj","listText":"Jjjjj","text":"Jjjjj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886530037","repostId":"2167539748","repostType":4,"isVote":1,"tweetType":1,"viewCount":1963,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886597881,"gmtCreate":1631603186343,"gmtModify":1676530587279,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Iiiiiiiiiii","listText":"Iiiiiiiiiii","text":"Iiiiiiiiiii","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886597881","repostId":"1125233732","repostType":4,"repost":{"id":"1125233732","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":1631585404,"share":"https://ttm.financial/m/news/1125233732?lang=en_US&edition=fundamental","pubTime":"2021-09-14 10:10","market":"hk","language":"zh","title":"Chuangsheng Group-B begins its IPO today, with an entry fee of HK$8,080.62.","url":"https://stock-news.laohu8.com/highlight/detail?id=1125233732","media":"老虎资讯综合","summary":"9月14日，创胜集团-B发布公告，将于9月14日-17日招股，公司拟发行4033万股股份，其中公开发售403.3万股，国际发售3629.7万股，每股发行价15.8-16.0港元，每手500股，预期将于","content":"<p>On September 14, Chuangsheng Group-B issued an announcement stating that it will launch an IPO from September 14 to 17. The company plans to issue 40.33 million shares, of which 4.033 million will be offered publicly and 36.297 million will be offered internationally. The issue price will be HK$15.8-16.0 per share, with 500 shares per lot. It is expected to be listed on September 29.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>Each lot consists of 500 shares, with an entry fee of HK$8,080.62.</p><p>The threshold for Group B is 400,000 shares, and the funds required for subscription are approximately HK$6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">Regarding cornerstone investors, several cornerstone investors agreed to subscribe for the number of shares available for subscription at the offer price, totaling approximately US$68 million, including LAV, Temasek, QIA, and the China State-owned Enterprise Restructuring Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, the company<b>There are currently no products approved for commercial sale and therefore no product sales revenue has been generated</b>substantially all of its revenue is derived from the provision of CDMO services to customers, primarily pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>The company was not profitable during the Track Record Period and incurred operating losses. In 2019, 2020 and the first three months of 2021, the company achieved revenues of RMB 44.14 million, RMB 80.98 million and RMB 7.883 million, respectively, while total comprehensive expenses for the year were RMB 438 million, RMB 320 million and RMB 71 million, respectively.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">Regarding the use of funds raised, the company's net proceeds were RMB 571 million (calculated based on the median issue price, assuming the over-allotment option is not exercised). According to the prospectus, the company intends to use the net proceeds from the share offering for the following purposes: 82% to fund the research and development of product candidates in the company's pipeline, ongoing and planned clinical and preclinical trials, preparation for registration filings, and other steps or activities related to the commercialization of the company's four main products; 8% to fund business development for expanding pipelines and developing technologies; 10% for general working capital and general operating expenses.</p><p>Chuangsheng Group is a clinical-stage biopharmaceutical company integrating discovery, research, development, manufacturing and business expansion capabilities. As of the Latest Practicable Date, the Company had independently discovered and developed eight of its nine drug candidates, covering validated, partially validated and novel biological pathways.</p><p>The core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company submitted a Phase 1 final analysis report to the National Medical Products Administration in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002) (a humanized sclerostin monoclonal antibody drug candidate for the treatment of osteoporosis). In 2019, Lilai authorized the introduction of the drug in Greater China.</p><p>It is worth noting that the company receives support from globally renowned strategic investors and professional funds focused on biotechnology.<b>Its shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Restructuring Fund, Teng Yue Partners, Hillhouse Capital, and Sequoia Capital China Fund.</b></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>Chuangsheng Group-B begins its IPO today, with an entry fee of HK$8,080.62.</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\">\nChuangsheng Group-B begins its IPO today, with an entry fee of HK$8,080.62.\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\">2021-09-14 10:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On September 14, Chuangsheng Group-B issued an announcement stating that it will launch an IPO from September 14 to 17. The company plans to issue 40.33 million shares, of which 4.033 million will be offered publicly and 36.297 million will be offered internationally. The issue price will be HK$15.8-16.0 per share, with 500 shares per lot. It is expected to be listed on September 29.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>Each lot consists of 500 shares, with an entry fee of HK$8,080.62.</p><p>The threshold for Group B is 400,000 shares, and the funds required for subscription are approximately HK$6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">Regarding cornerstone investors, several cornerstone investors agreed to subscribe for the number of shares available for subscription at the offer price, totaling approximately US$68 million, including LAV, Temasek, QIA, and the China State-owned Enterprise Restructuring Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, the company<b>There are currently no products approved for commercial sale and therefore no product sales revenue has been generated</b>substantially all of its revenue is derived from the provision of CDMO services to customers, primarily pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>The company was not profitable during the Track Record Period and incurred operating losses. In 2019, 2020 and the first three months of 2021, the company achieved revenues of RMB 44.14 million, RMB 80.98 million and RMB 7.883 million, respectively, while total comprehensive expenses for the year were RMB 438 million, RMB 320 million and RMB 71 million, respectively.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">Regarding the use of funds raised, the company's net proceeds were RMB 571 million (calculated based on the median issue price, assuming the over-allotment option is not exercised). According to the prospectus, the company intends to use the net proceeds from the share offering for the following purposes: 82% to fund the research and development of product candidates in the company's pipeline, ongoing and planned clinical and preclinical trials, preparation for registration filings, and other steps or activities related to the commercialization of the company's four main products; 8% to fund business development for expanding pipelines and developing technologies; 10% for general working capital and general operating expenses.</p><p>Chuangsheng Group is a clinical-stage biopharmaceutical company integrating discovery, research, development, manufacturing and business expansion capabilities. As of the Latest Practicable Date, the Company had independently discovered and developed eight of its nine drug candidates, covering validated, partially validated and novel biological pathways.</p><p>The core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company submitted a Phase 1 final analysis report to the National Medical Products Administration in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002) (a humanized sclerostin monoclonal antibody drug candidate for the treatment of osteoporosis). In 2019, Lilai authorized the introduction of the drug in Greater China.</p><p>It is worth noting that the company receives support from globally renowned strategic investors and professional funds focused on biotechnology.<b>Its shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Restructuring Fund, Teng Yue Partners, Hillhouse Capital, and Sequoia Capital China Fund.</b></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/819e63bbaff7db212baae89a294e955b","relate_stocks":{"06628":"创胜集团医药-B"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125233732","content_text":"9月14日，创胜集团-B发布公告，将于9月14日-17日招股，公司拟发行4033万股股份，其中公开发售403.3万股，国际发售3629.7万股，每股发行价15.8-16.0港元，每手500股，预期将于9月29日上市。申购阶梯：\n每手500股，入场费8080.62港元。\n乙组门槛为40万股，申购所需资金约6464492.80港元。基石投资者方面，多名基石投资者同意按发售价认购可供认购的发售股份数目，总额约6800万美元，包括LAV、淡马锡、QIA、中国国有企业结构调整基金。财务数据方面，公司目前尚无获准可进行商业销售的产品，因此并未产生任何产品销售收益，其绝大部分收益来自根据CDMO合约向客户（主要为制药及生物科技公司）提供CDMO服务。\n于往绩记录期公司尚未盈利，且产生经营亏损。于2019年、2020年及2021年前三个月，公司实现收入人民币4414万元、8098万元及788.3万元，同期录得年内全面开支总额分别为人民币4.38亿元、3.20亿元及0.71亿元。筹资用途方面，公司所得款项净额5.71亿元(假设超额配股权未获行使，以发行价中位数计算)。根据招股书，公司拟将股份发售所得款项净额用于以下用途：82%用于公司管线候选产品的研发、为进行中及计划中的临床及临床前试验、筹备注册备案以及其他与商业化公司四款主打产品有关的步骤或活动拨资；8%用于为扩充管线及开发技术的业务发展拨资；10%用作一般营运资金及一般营运费用。\n创胜集团是一家集发现、研究、开发、制造及业务拓展能力为一体的临床阶段生物制药公司。截至最后实际可行日期，公司已自主发现及开发九种候选药物中的八种药物，涵盖已验证的、部分验证的及新型生物通路。\n其中核心产品是MSB2311（一种针对实体瘤的人源化PD-L1单克隆抗体（单抗）候选药物），公司已于2021年1月向国家药监局提交1期结束分析报告。\n唯一授权引进的候选药物为Blosozumab（TST002）（一种用于治疗骨质疏松的人源化硬骨素单克隆抗体候选药物），于2019年自礼来授权引进该药在大中华区权利。\n值得注意的是，公司获得全球知名战略投资者及专注于生物科技的专业基金的支持，股东包括礼来亚洲基金、淡马锡、ARCH Ventures Partners、中国国有企业结构调整基金、Teng Yue Partners、高瓴资本及红杉资本中国基金等。","news_type":1,"symbols_score_info":{"06628":0.9}},"isVote":1,"tweetType":1,"viewCount":1765,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886595831,"gmtCreate":1631603031323,"gmtModify":1676530587162,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"hh","listText":"hh","text":"hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886595831","repostId":"1181453869","repostType":4,"repost":{"id":"1181453869","kind":"news","pubTimestamp":1631602814,"share":"https://ttm.financial/m/news/1181453869?lang=en_US&edition=fundamental","pubTime":"2021-09-14 15:00","market":"hk","language":"zh","title":"Can you understand Pop Mart, a theme park?","url":"https://stock-news.laohu8.com/highlight/detail?id=1181453869","media":"新零售商业评论","summary":"自2016年上海迪士尼开放后，国内便刮起了一股主题乐园建设风，欢乐谷、万达乐园、华强方特、长隆……个个都要和迪士尼比划比划。\n如今五年已过，上海迪士尼仍然人头攒动。北京环球影城即将热闹开幕，万达乐园易","content":"<p>Since 2016, Shanghai<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the park opened, a wave of theme park construction swept across China, with Happy Valley, Wanda Park, Fantawild Holdings, Chimelong, and others all vying to compete with Disney.</p><p>Five years later, Shanghai Disneyland is still bustling with people. Universal Studios Beijing is about to open with great fanfare, Wanda Park is changing hands with Sunac, and Legoland...<a href=\"https://laohu8.com/S/SNE\">Sony</a>Many more theme parks, including amusement parks, are eyeing the Chinese market covetously... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Pop Mart</a>It also joined the fray, establishing a wholly-owned subsidiary, Beijing Pop Mart Amusement Park Management Co., Ltd., to continue expanding its IP footprint.</p><p>However, it's clear that only the IPs in the blind box won't work. We helped Pop Mart sort out what else they needed to prepare to run a theme park.</p><p><b>What exactly does it take to run a theme park?</b></p><p><b>A piece of land</b></p><p>To build a theme park, you must first have a piece of land.</p><p>Many domestic amusement park operators, such as OCT Group, Sunac, and previously Wanda, are real estate developers, giving them a natural advantage in land planning. Therefore, Happy Valley, Sunac Park, and others all follow the \"tourism + real estate\" route.</p><p>In order to successfully acquire land, both Shanghai Disneyland and Universal Studios Beijing chose to cooperate with local governments and real estate developers. In addition to a more Chinese-Western integrated operating model, the operating strategy remains \"tourism + real estate\".</p><p>In terms of specific location selection, Shanghai Disneyland and Universal Studios Beijing are currently located in strong areas with superior geographical and transportation advantages in their respective cities (Pudong New Area and Tongzhou). Later comers, such as Legoland, will find it difficult to obtain better land and can only settle in second-priority areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Fantawild Holdings, Sunac, Songcheng, Chimelong, and other theme parks abandoned the relatively competitive first- and second-tier cities from the very beginning, instead choosing to leverage their strengths in their own advantageous regions.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamlike carousels, huge castles, realistic 4D technology... these have all become \"standard features\" of theme parks, and these entertainment facilities and corresponding visual presentation technologies are constantly being updated and iterated.</p><p>At Universal Studios Beijing, you can clearly feel the collision of new and old technologies.</p><p>A Bilibili content creator who went to check in said that the Minions experience was much higher than Harry Potter's.</p><p>It is reported that the Minions section uses the latest 4D rendering technology, with high-definition images. However, \"Harry Potter's Forbidden Journey\" still uses the same presentation technology as the first Harry Potter theme park at Universal Studios Orlando in 2007, resulting in very blurry images.</p><p>In terms of entertainment facilities and presentation technology, Fantawild can be considered one of the domestic companies with the strongest influence. Benefiting from starting by selling specialty film equipment, the founder of Fantawild once stated in the media: \"We have all of Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This was an important opportunity that prompted Fantawild to gradually transform from indoor amusement facilities to outdoor theme parks, and also made up for its relative disadvantage in real estate—after all, \"fun\" is the key factor for theme parks to attract tourists.</p><p>It is understood that Fantawild Holdings opens theme parks mainly through cooperative investment and construction with various investors. Fantawild Holdings provides special equipment and installation services, special effects engineering construction services or engineering management services.</p><p>Operators of theme parks such as OCT, Sunac, and Chimelong, which already possess real estate operation capabilities, can only choose to introduce equipment and technology through third-party cooperation.</p><p><b>Mature IP and operational capabilities</b></p><p>This is the top priority of a theme park.</p><p>The IPs owned by Disney and Universal Studios have mostly formed some kind of cultural symbol and have had a profound impact on a global scale.</p><p>For example, Harry Potter fans, Star Wars fans, and Lord of the Rings fans all have a mature internal slang system (such as spells and elf language) and take pride in showcasing their unique fan characteristics, which gives the corresponding IP merchandise more room for development.</p><p>What fan goes to Universal Studios' Harry Potter Forbidden Tour without buying a wand and drinking a glass of butterbeer? Which fan would be willing to leave empty-handed when they see a Stormtrooper helmet while shopping at Disney Mall?</p><p>Moreover, most of these IPs have been accumulated for decades, constantly introducing new stories to cater to the tastes of new and old fans, and have had a huge influence on several generations. This influence has in turn given rise to the strong spending power of tourists visiting theme parks.</p><p>But that's not enough. The soul of a theme park is to bring these IPs to life within the park, bringing visitors a realistic and immersive experience.</p><p>Disney has always been known for its dreaminess, because it is a fairytale kingdom where all the fairytale characters are vivid, greet and interact with visitors, and tell some narrations that fit the \"characters\". Stepping into the park, you will feel genuinely happy. This kind of infection is something that many theme parks in China have never had before.</p><p>Universal Studios is no different. Some netizens said that when they come to the Harry Potter Forbidden Journey and want to find a power bank, the staff will tell them, \"That's for Muggles, we don't have it here.\"</p><p>Waving the sensor wand can trigger scene changes, and the myrtle crying in the toilet... these are all important designs that enhance the experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>The ability to present these IPs as authentically as possible is thanks to the \"Chinese main investment + American main operation\" model of Shanghai Disneyland and Universal Studios Beijing.</p><p>Shanghai Disneyland is jointly established by Shendi Group and Disney three companies, two of which are the owner companies and the third is the management company.</p><p>Just like the hotel management model, the management company established by the two parties is entrusted by the owner company to be responsible for the project's creativity, design, development, and daily operation and management. This is also the first time Disney has invested in an overseas park.</p><p>Universal Studios Beijing also adopted this model, jointly developed by Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (hereinafter referred to as \"Shouhuan Investment\") and Universal Theme Company and Resort (hereinafter referred to as \"Universal Theme<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>NBCUniversal's business segments are joint ventures, with equity stakes of 70% and 30%, respectively.</p><p>The advantage of doing this is that, as the holder of the IP, the US has a better understanding of the true value of the IP, thus being able to maximize that value.</p><p>Back in China, theme parks find themselves somewhat like a skilled cook without rice in terms of IP operation.</p><p>OCT Group and Sunac basically adopt the approach of collaborating with mature domestic IPs, which is more like attaching the IP to their own amusement facilities or staff to attract the audience of a certain IP to visit.</p><p>For example, Nanjing Happy Valley, which opened last year, is linked to the Little Yellow Duck IP. In Nanjing, where \"no duck can swim out,\" this IP is certainly very popular, and its positioning can be considered accurate.</p><p><img src=\"https://static.tigerbbs.com/4206f3e0889dc0dec204f2836239501e\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>However, even with your own IP, creating an outstanding immersive experience is still not easy, since the experience is a feeling that is both personalized and subtle.</p><p>Located on the shore of Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>The film world is dominated by several Huayi Brothers film IPs, such as \"If You Are the One,\" \"Detective Dee: The Heavenly Empire,\" and \"Tai Chi.\" However, in terms of IP operation, many projects have real-life scenes but no interaction, which neither provides consumers with a truly immersive experience nor increases user stickiness. All that remains are monotonous photo opportunities, and ultimately they are deserted.</p><p>Fantawild has a certain degree of uniqueness and originality in its self-created IPs and theme park operations, and \"<b>Tourism + Real Estate</b>Different models, Fantawild's strategy is \"<b>Culture + technology</b>\"Follow the path of prioritizing content.\"</p><p>But to catch up with Disney is destined to be a very difficult path.</p><p>Over the past decade, Fantawild has created more than 30 of its own IPs, with only \"Boonie Bears\" truly becoming a household name. However, this eight-year-old IP has not added much to Fantawild Holdings' theme parks.</p><p>The reason for this is that the main audience for \"Boonie Bears\" is children, but the target consumer group for theme parks is young people aged 20 to 30. An aging IP, a misaligned target audience, and a decreased appeal naturally make theme parks less likely to monetize.</p><p>Fantawild hoped to create an IP targeting a higher age group, so it took five years to launch the fantasy animated film \"City of Terracotta Warriors\".</p><p>The film, released this summer, was a box office hit. While the special effects were good, the plot and character development were terrible. The setting, which included traditional Chinese elements such as the Terracotta Army and the Classic of Mountains and Seas, was too chaotic, and it also \"borrowed\" many blockbuster elements from Pixar and Disney animated films...</p><p>Children may not understand, but in front of knowledgeable adult consumers, the self-proclaimed originality of the producers of \"City of Terracotta Warriors\" is like a joke.</p><p><b>The blessings of the theme park are yet to come.</b></p><p>Theme parks operate on a capital-intensive model, and the remaining theme parks that are still in operation today are the products of nearly a decade of natural selection.</p><p>According to statistics, in the ten years since Shanghai Disneyland announced its construction, 80% of its theme parks have gone bankrupt, such as the famous Oriental Park, \"Tiangong Tribe\", and Orange Isle Beach Park.</p><p>According to previous reports, around 2016, about 300 domestic theme parks invested more than 50 million yuan, 70% were operating at a loss, 20% were breaking even, and only 10% were profitable, with about 150 billion yuan tied up in theme park investments.</p><p>Today's theme parks have gradually shed their wild growth and begun to move towards a development path of scientific planning and IP operation, and their operations are on the right track.</p><p>According to its financial report for the first half of this year, OCT's tourism business achieved revenue of RMB 18.922 billion and gross profit of RMB 4.685 billion, representing year-on-year increases of 89.93% and 24.98%, respectively. The company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas, and 1 tourist performance received a total of 28.482 million visitors, recovering to 160% of the same period in 2019.</p><p>Sunac's cultural tourism sector is also growing rapidly, with operating revenue of 2.61 billion yuan in the first half of this year, a year-on-year increase of 166%; Passenger traffic reached 72.01 million, an increase of 103% year-on-year.</p><p>Despite its own challenges, Fantawild Holdings' theme park operating revenue reached 1.789 billion yuan in the first half of this year, a year-on-year increase of 37.37%. In addition, in the first half of 2021, visitor numbers at Fantawild theme parks had recovered to nearly 90% of the same period in 2019.</p><p>These achievements are also thanks to consumers' \"retaliatory\" travel and consumption after the pandemic. In addition, consumers' consumption mindset has also changed somewhat—whether for sightseeing, shopping, or dining, they are more pursuing novel and fun offline experiences, which presents an excellent opportunity for theme parks.</p><p>Therefore,<b>Continuously bringing novelty to consumers has become extremely important. Differentiated positioning, equipment updates and iterations, technological upgrades... these have all become eternal topics and key areas of investment for theme park operators.</b></p><p>Nowadays, newcomers who want to enter the theme park market face more and more problems.</p><p>Take Pop Mart as an example. Its brand is popular with many trendy consumers in first- and second-tier cities, so the site selection of the park will inevitably be limited to this range, and the cost will inevitably increase significantly.</p><p>In terms of park facilities and technology reserves, Pop Mart can likely only adopt a supplier cooperation system, rather than independent research and development. Even if it does, it cannot compare with its predecessors who have accumulated many years of experience.</p><p>In terms of the operation of its own IPs, most of Pop Mart's IPs are in the early stages of development - that is, they only have a simple IP image with no story or connotation behind it. Disney and Universal Studios, which have multiple classic IPs in their hands, are not on the same level at all, and are not even as universal as Fantawild's \"Boonie Bears\".</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>Companies like Nintendo and Lego, which possess a massive amount of mature IPs, unique gameplay, and culture, are also eyeing this track covetously...</p><p>Successfully operating a theme park is quite difficult!</p>","source":"lsy1574404730537","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>Can you understand Pop Mart, a theme park?</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\">\nCan you understand Pop Mart, a theme park?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新零售商业评论</strong><span class=\"h-time small\">2021-09-14 15:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Since 2016, Shanghai<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the park opened, a wave of theme park construction swept across China, with Happy Valley, Wanda Park, Fantawild Holdings, Chimelong, and others all vying to compete with Disney.</p><p>Five years later, Shanghai Disneyland is still bustling with people. Universal Studios Beijing is about to open with great fanfare, Wanda Park is changing hands with Sunac, and Legoland...<a href=\"https://laohu8.com/S/SNE\">Sony</a>Many more theme parks, including amusement parks, are eyeing the Chinese market covetously... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Pop Mart</a>It also joined the fray, establishing a wholly-owned subsidiary, Beijing Pop Mart Amusement Park Management Co., Ltd., to continue expanding its IP footprint.</p><p>However, it's clear that only the IPs in the blind box won't work. We helped Pop Mart sort out what else they needed to prepare to run a theme park.</p><p><b>What exactly does it take to run a theme park?</b></p><p><b>A piece of land</b></p><p>To build a theme park, you must first have a piece of land.</p><p>Many domestic amusement park operators, such as OCT Group, Sunac, and previously Wanda, are real estate developers, giving them a natural advantage in land planning. Therefore, Happy Valley, Sunac Park, and others all follow the \"tourism + real estate\" route.</p><p>In order to successfully acquire land, both Shanghai Disneyland and Universal Studios Beijing chose to cooperate with local governments and real estate developers. In addition to a more Chinese-Western integrated operating model, the operating strategy remains \"tourism + real estate\".</p><p>In terms of specific location selection, Shanghai Disneyland and Universal Studios Beijing are currently located in strong areas with superior geographical and transportation advantages in their respective cities (Pudong New Area and Tongzhou). Later comers, such as Legoland, will find it difficult to obtain better land and can only settle in second-priority areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Fantawild Holdings, Sunac, Songcheng, Chimelong, and other theme parks abandoned the relatively competitive first- and second-tier cities from the very beginning, instead choosing to leverage their strengths in their own advantageous regions.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamlike carousels, huge castles, realistic 4D technology... these have all become \"standard features\" of theme parks, and these entertainment facilities and corresponding visual presentation technologies are constantly being updated and iterated.</p><p>At Universal Studios Beijing, you can clearly feel the collision of new and old technologies.</p><p>A Bilibili content creator who went to check in said that the Minions experience was much higher than Harry Potter's.</p><p>It is reported that the Minions section uses the latest 4D rendering technology, with high-definition images. However, \"Harry Potter's Forbidden Journey\" still uses the same presentation technology as the first Harry Potter theme park at Universal Studios Orlando in 2007, resulting in very blurry images.</p><p>In terms of entertainment facilities and presentation technology, Fantawild can be considered one of the domestic companies with the strongest influence. Benefiting from starting by selling specialty film equipment, the founder of Fantawild once stated in the media: \"We have all of Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This was an important opportunity that prompted Fantawild to gradually transform from indoor amusement facilities to outdoor theme parks, and also made up for its relative disadvantage in real estate—after all, \"fun\" is the key factor for theme parks to attract tourists.</p><p>It is understood that Fantawild Holdings opens theme parks mainly through cooperative investment and construction with various investors. Fantawild Holdings provides special equipment and installation services, special effects engineering construction services or engineering management services.</p><p>Operators of theme parks such as OCT, Sunac, and Chimelong, which already possess real estate operation capabilities, can only choose to introduce equipment and technology through third-party cooperation.</p><p><b>Mature IP and operational capabilities</b></p><p>This is the top priority of a theme park.</p><p>The IPs owned by Disney and Universal Studios have mostly formed some kind of cultural symbol and have had a profound impact on a global scale.</p><p>For example, Harry Potter fans, Star Wars fans, and Lord of the Rings fans all have a mature internal slang system (such as spells and elf language) and take pride in showcasing their unique fan characteristics, which gives the corresponding IP merchandise more room for development.</p><p>What fan goes to Universal Studios' Harry Potter Forbidden Tour without buying a wand and drinking a glass of butterbeer? Which fan would be willing to leave empty-handed when they see a Stormtrooper helmet while shopping at Disney Mall?</p><p>Moreover, most of these IPs have been accumulated for decades, constantly introducing new stories to cater to the tastes of new and old fans, and have had a huge influence on several generations. This influence has in turn given rise to the strong spending power of tourists visiting theme parks.</p><p>But that's not enough. The soul of a theme park is to bring these IPs to life within the park, bringing visitors a realistic and immersive experience.</p><p>Disney has always been known for its dreaminess, because it is a fairytale kingdom where all the fairytale characters are vivid, greet and interact with visitors, and tell some narrations that fit the \"characters\". Stepping into the park, you will feel genuinely happy. This kind of infection is something that many theme parks in China have never had before.</p><p>Universal Studios is no different. Some netizens said that when they come to the Harry Potter Forbidden Journey and want to find a power bank, the staff will tell them, \"That's for Muggles, we don't have it here.\"</p><p>Waving the sensor wand can trigger scene changes, and the myrtle crying in the toilet... these are all important designs that enhance the experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>The ability to present these IPs as authentically as possible is thanks to the \"Chinese main investment + American main operation\" model of Shanghai Disneyland and Universal Studios Beijing.</p><p>Shanghai Disneyland is jointly established by Shendi Group and Disney three companies, two of which are the owner companies and the third is the management company.</p><p>Just like the hotel management model, the management company established by the two parties is entrusted by the owner company to be responsible for the project's creativity, design, development, and daily operation and management. This is also the first time Disney has invested in an overseas park.</p><p>Universal Studios Beijing also adopted this model, jointly developed by Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (hereinafter referred to as \"Shouhuan Investment\") and Universal Theme Company and Resort (hereinafter referred to as \"Universal Theme<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>NBCUniversal's business segments are joint ventures, with equity stakes of 70% and 30%, respectively.</p><p>The advantage of doing this is that, as the holder of the IP, the US has a better understanding of the true value of the IP, thus being able to maximize that value.</p><p>Back in China, theme parks find themselves somewhat like a skilled cook without rice in terms of IP operation.</p><p>OCT Group and Sunac basically adopt the approach of collaborating with mature domestic IPs, which is more like attaching the IP to their own amusement facilities or staff to attract the audience of a certain IP to visit.</p><p>For example, Nanjing Happy Valley, which opened last year, is linked to the Little Yellow Duck IP. In Nanjing, where \"no duck can swim out,\" this IP is certainly very popular, and its positioning can be considered accurate.</p><p><img src=\"https://static.tigerbbs.com/4206f3e0889dc0dec204f2836239501e\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>However, even with your own IP, creating an outstanding immersive experience is still not easy, since the experience is a feeling that is both personalized and subtle.</p><p>Located on the shore of Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>The film world is dominated by several Huayi Brothers film IPs, such as \"If You Are the One,\" \"Detective Dee: The Heavenly Empire,\" and \"Tai Chi.\" However, in terms of IP operation, many projects have real-life scenes but no interaction, which neither provides consumers with a truly immersive experience nor increases user stickiness. All that remains are monotonous photo opportunities, and ultimately they are deserted.</p><p>Fantawild has a certain degree of uniqueness and originality in its self-created IPs and theme park operations, and \"<b>Tourism + Real Estate</b>Different models, Fantawild's strategy is \"<b>Culture + technology</b>\"Follow the path of prioritizing content.\"</p><p>But to catch up with Disney is destined to be a very difficult path.</p><p>Over the past decade, Fantawild has created more than 30 of its own IPs, with only \"Boonie Bears\" truly becoming a household name. However, this eight-year-old IP has not added much to Fantawild Holdings' theme parks.</p><p>The reason for this is that the main audience for \"Boonie Bears\" is children, but the target consumer group for theme parks is young people aged 20 to 30. An aging IP, a misaligned target audience, and a decreased appeal naturally make theme parks less likely to monetize.</p><p>Fantawild hoped to create an IP targeting a higher age group, so it took five years to launch the fantasy animated film \"City of Terracotta Warriors\".</p><p>The film, released this summer, was a box office hit. While the special effects were good, the plot and character development were terrible. The setting, which included traditional Chinese elements such as the Terracotta Army and the Classic of Mountains and Seas, was too chaotic, and it also \"borrowed\" many blockbuster elements from Pixar and Disney animated films...</p><p>Children may not understand, but in front of knowledgeable adult consumers, the self-proclaimed originality of the producers of \"City of Terracotta Warriors\" is like a joke.</p><p><b>The blessings of the theme park are yet to come.</b></p><p>Theme parks operate on a capital-intensive model, and the remaining theme parks that are still in operation today are the products of nearly a decade of natural selection.</p><p>According to statistics, in the ten years since Shanghai Disneyland announced its construction, 80% of its theme parks have gone bankrupt, such as the famous Oriental Park, \"Tiangong Tribe\", and Orange Isle Beach Park.</p><p>According to previous reports, around 2016, about 300 domestic theme parks invested more than 50 million yuan, 70% were operating at a loss, 20% were breaking even, and only 10% were profitable, with about 150 billion yuan tied up in theme park investments.</p><p>Today's theme parks have gradually shed their wild growth and begun to move towards a development path of scientific planning and IP operation, and their operations are on the right track.</p><p>According to its financial report for the first half of this year, OCT's tourism business achieved revenue of RMB 18.922 billion and gross profit of RMB 4.685 billion, representing year-on-year increases of 89.93% and 24.98%, respectively. The company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas, and 1 tourist performance received a total of 28.482 million visitors, recovering to 160% of the same period in 2019.</p><p>Sunac's cultural tourism sector is also growing rapidly, with operating revenue of 2.61 billion yuan in the first half of this year, a year-on-year increase of 166%; Passenger traffic reached 72.01 million, an increase of 103% year-on-year.</p><p>Despite its own challenges, Fantawild Holdings' theme park operating revenue reached 1.789 billion yuan in the first half of this year, a year-on-year increase of 37.37%. In addition, in the first half of 2021, visitor numbers at Fantawild theme parks had recovered to nearly 90% of the same period in 2019.</p><p>These achievements are also thanks to consumers' \"retaliatory\" travel and consumption after the pandemic. In addition, consumers' consumption mindset has also changed somewhat—whether for sightseeing, shopping, or dining, they are more pursuing novel and fun offline experiences, which presents an excellent opportunity for theme parks.</p><p>Therefore,<b>Continuously bringing novelty to consumers has become extremely important. Differentiated positioning, equipment updates and iterations, technological upgrades... these have all become eternal topics and key areas of investment for theme park operators.</b></p><p>Nowadays, newcomers who want to enter the theme park market face more and more problems.</p><p>Take Pop Mart as an example. Its brand is popular with many trendy consumers in first- and second-tier cities, so the site selection of the park will inevitably be limited to this range, and the cost will inevitably increase significantly.</p><p>In terms of park facilities and technology reserves, Pop Mart can likely only adopt a supplier cooperation system, rather than independent research and development. Even if it does, it cannot compare with its predecessors who have accumulated many years of experience.</p><p>In terms of the operation of its own IPs, most of Pop Mart's IPs are in the early stages of development - that is, they only have a simple IP image with no story or connotation behind it. Disney and Universal Studios, which have multiple classic IPs in their hands, are not on the same level at all, and are not even as universal as Fantawild's \"Boonie Bears\".</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>Companies like Nintendo and Lego, which possess a massive amount of mature IPs, unique gameplay, and culture, are also eyeing this track covetously...</p><p>Successfully operating a theme park is quite difficult!</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/53bP0asYmXbrZnjajwdTNQ\">新零售商业评论</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/813c01a66ea8b058bb0f8a728d2c75e2","relate_stocks":{"09992":"泡泡玛特"},"source_url":"https://mp.weixin.qq.com/s/53bP0asYmXbrZnjajwdTNQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181453869","content_text":"自2016年上海迪士尼开放后，国内便刮起了一股主题乐园建设风，欢乐谷、万达乐园、华强方特、长隆……个个都要和迪士尼比划比划。\n如今五年已过，上海迪士尼仍然人头攒动。北京环球影城即将热闹开幕，万达乐园易手融创，乐高乐园、索尼乐园等更多主题乐园正对中国市场虎视眈眈……中国主题乐园的发展迈入了新的篇章。\n前不久，泡泡玛特也加入战局，成立全资子公司北京泡泡玛特乐园管理有限公司，要将其IP版图继续扩张。\n然而，只有盲盒里的那些IP显然不行。我们帮泡泡玛特捋了捋，要经营一座主题乐园，他们还需要准备些什么。\n 经营一座主题乐园到底需要什么？\n一块地\n要建立一座主题乐园，首先必须要有一块地。\n国内许多游乐园运营方，如华侨城、融创以及此前的万达都是地产商，他们对于地皮的规划有着天然的优势。因此，欢乐谷、融创乐园等，走的都是“旅游+地产”的路线。\n上海迪士尼和北京环球影城为了能顺利拿地，都选择与当地政府、地产商进行合作。除了运营模式更加中西合璧之外，运营思路仍是“旅游+地产”。\n从具体区域选择来看，目前上海迪士尼和北京环球影城都在各自城市中的占据更优地理、交通等优势的强势区域（浦东新区、通州），后来者，如乐高乐园，就很难再拿到更好的地皮，只能屈居上海的金山区、北京的房山区这样的次优区域。\n华强方特、融创、宋城、长隆等乐园，则从一开始就放弃了竞争相对激烈的一二线城市，而是选择在自己的优势地区发挥特长。\n丰富有趣的娱乐设施\n惊险刺激的过山车，梦幻的旋转木马，巨大的城堡，逼真的4D技术……这些都成为了主题乐园的“标配”，并且这些娱乐设施和相应的视觉呈现技术一直在更新迭代。\n在北京环球影城就能明显地感受到新技术和旧技术的碰撞。\n一位前去打卡的B站Up主表示，小黄人的体验比哈利·波特上了许多个档次。\n据悉，小黄人版块使用了最新的4D呈现技术，画质高清。但“哈利·波特禁忌之旅”使用的，仍是2007年美国奥兰多环球影城内第一家哈利·波特主题乐园的呈现技术，画面十分模糊。\n在娱乐设施和呈现技术上，华强方特称得上是话语权较强的国内企业之一。得益于以销售特种电影设备起家，华强方特创始人曾在媒体上称：“迪士尼的技术我们都有。”\n\n这正是促使华强方特从室内游乐设施逐渐转型室外主题乐园的重要契机，也弥补了其在地产上的相对劣势——毕竟，“好玩”才是主题乐园吸引游客的关键因素。\n据悉，华强方特开设主题乐园主要是通过与各类投资者合作投资建设的方式，华强方特提供特种设备以及安装服务、特效工程建设服务或工程管理服务。\n而本就拥有地产运营能力的华侨城、融创、长隆等主题乐园的运营方，只能选择第三方合作的方式来引入设备和技术。\n成熟的IP及运营能力\n这是主题乐园的重中之重。\n迪士尼和环球影城所拥有的IP，大都已经形成了某种文化象征，在全球范围内产生了深远的影响。\n如哈利·波特迷、星球大战迷和魔戒迷们，都拥有一套成熟的内部黑话体系（如魔咒、精灵语），平时也以彰显自己独特的粉丝特征为荣，这便让相应的IP周边有了更多的发展空间。\n哪个粉丝去环球影城的哈利·波特禁忌之旅，会不买一根魔杖、不喝一杯黄油啤酒呢？哪个粉丝去迪士尼商城逛的时候，看到风暴兵的头盔会甘心空手而归呢？\n更何况这些IP大都已经有了数十年的积累，在故事内容上不断推陈出以新迎合新老粉丝的胃口，对几代人都产生了巨大的影响力，而这些影响力又催生出了逛主题乐园的游客的旺盛消费力。\n但光有这些还不够，主题乐园的灵魂是让这些IP在园区内“活”起来，带给游客逼真的沉浸式体验。\n迪士尼向来以梦幻著称，因为这就是一个童话王国，其中所有的童话人物都是鲜活的，会和游客打招呼互动，也会说出一些符合“人设”的旁白，走进乐园，会发自内心地感到快乐，这种感染力是此前国内许多主题乐园不曾有的。\n环球影城也不遑多让。有网友说，来到哈利·波特禁忌之旅，想找个充电宝，工作人员都会告诉你：“那是麻瓜用的，我们这儿没有。”\n挥一挥感应魔杖就会产生场景变化、厕所里哭泣的桃金娘……都是增加体验感的重要设计。\n\n要把这些IP尽可能原汁原味地呈现出来，得益于上海迪士尼和北京环球影城的“中方主投资+美方主运营”的模式。\n上海迪士尼由申迪集团与迪士尼共同投资设立了三家企业，其中两家是业主公司，第三家是管理公司。\n就像酒店的管理模式一样，双方合作成立的管理公司接受业主公司的委托，负责项目的创意、设计、开发和日常运营管理工作。这在迪士尼投资的海外乐园中也是第一次。\n北京环球影城同样借鉴了这个模式，由北京首寰文化旅游投资有限公司（简称“首寰投资”）和环球主题公司及度假区（康卡斯特NBC环球下属业务板块）合资经营，股权比例为70%和30%。\n这样做的好处是，作为IP的持有者，美方更了解IP真正的价值所在，从而能够将这些价值最大化。\n回到国内的主题乐园，他们在IP运营方面就多少有点巧妇难为无米之炊了。\n华侨城和融创基本采取的是和国内成熟IP合作的方式，更像是把IP贴牌在自家的游乐设施或者工作人员身上，从而吸引某个IP的受众前来游玩。\n如去年开业的南京欢乐谷，就和小黄鸭IP进行了绑定。在“没有一只鸭子能游出去”的南京，这个IP当然深受欢迎，也算定位准确。\n\n然而，即便有自有IP，要打造出色的沉浸感仍不是件容易的事，毕竟体验是一种既个性又微妙的感觉。\n坐落在苏州阳澄湖边的华谊兄弟电影世界，有《非诚勿扰》《狄仁杰之通天帝国》《太极》等多部华谊兄弟电影IP坐镇，但摆在IP运营上——许多项目空有实景却没有互动，既不能给消费者带来真正的沉浸式体验，更无法增加用户黏性，只剩下单调的拍照留念，最终门庭冷落。\n华强方特在自创IP和主题乐园的运营上有一定的独特性和原创性，和“旅游+地产”的模式不同，华强方特的战略是“文化+科技”，走内容为王的路线。\n但要想向迪士尼看齐，注定是一条非常难走的路。\n近十年来，华强方特打造了30余个自有IP，真正家喻户晓的只有《熊出没》。然而，这个有着8年历史的IP并没有为华强方特的主题乐园带来太多增色。\n究其原因，《熊出没》的主要受众是儿童，但主题公园的目标消费人群是20~30岁的年轻人。IP老化，目标人群错位，吸引力降低，自然使得主题公园的变现更加乏力。\n华强方特希望打造一个面向更高年龄层的IP，于是历时5年推出了奇幻题材的动漫电影《俑之城》。\n该片今年暑期上映，票房惨烈——特效虽好，但剧情、人物塑造“拉胯”，包含兵马俑、山海经等国风元素的设定太过混乱，还“拿来”了不少皮克斯、迪士尼动画电影的爆款元素……\n小朋友们可能看不懂，在见多识广的成人消费者面前，《俑之城》制作方自诩的原创像个笑话。\n 主题乐园的福气还在后头\n主题乐园属于重资产的运营模式，如今剩下的这些仍在营业的主题乐园，都是近十年来大浪淘沙下的产物。\n据统计，自上海迪士尼宣布建设开始的十年内，有80%的主题乐园先后倒闭，比如著名的东方乐园、“天工部落”、橘子洲沙滩乐园等。\n据此前报道，2016年前后国内主题乐园投资在5000万元以上的有300家左右，70%处于亏损状态，20%持平，只有10%实现盈利，约有1500亿元资金套牢在主题乐园的投资中。\n如今的主题乐园已经逐渐摆脱当时野蛮生长的状态，开始走向科学规划、IP运营的发展路径，运营也走上了正轨。\n从今年上半年的财报来看，华侨城的旅游综合业务实现收入189.22亿元、毛利46.85亿元，分别同比增长89.93%、24.98%。公司旗下26家景区、25家酒店、1家旅行社、6家开放式旅游区、1台旅游演艺共接待游客2848.2万人次，恢复至2019年同期的160%。\n融创文旅板块业绩也在快速增长，今年上半年营业收入26.1亿元，同比增长166%；客流量达7201万人次，同比提升103%。\n华强方特虽然有着自己的困扰，但今年上半年主题公园运营收入17.89亿元，同比增37.37%。此外，2021上半年，方特主题公园游客接待已恢复至2019年同期的近九成。\n这些成绩也得益于疫情之后，消费者们的“报复性”旅游、消费。此外，消费者们的消费心态也发生了些许转变——无论是游玩、购物还是餐饮，他们都更追求新奇、好玩的线下体验，这对主题乐园来说是绝佳的机遇。\n因此，不断为消费者带来新鲜感变得格外重要。差异化的定位、设备的更新迭代、技术的升级……这些都成为了主题乐园运营者永恒的话题和投入的重点。\n现在想入局主题乐园，后来者需要解决的问题越来越多。\n就拿泡泡玛特为例，其品牌受众多为一二线城市的新潮消费者，那么乐园的选址就势必只能限定在这个范围，成本必然大幅度增加；\n在乐园设施和技术的储备上，泡泡玛特很可能只能采取供应商合作制，而不可能自主研发，就算自研，也比不上有多年经验积累的前辈们；\n在自有IP的运营上，泡泡玛特的IP大多处在发展的初级阶段——即只有一个简单的IP形象，背后没有故事和内涵，同手握多个经典IP的迪士尼、环球影城根本不在一个量级水平，甚至比不上华强方特的《熊出没》更具普适性；\n再加上索尼、任天堂、乐高等拥有海量成熟IP、独特玩法和文化的企业也正对这一个赛道虎视眈眈……\n想成功运营一座主题乐园，难着呢！","news_type":1,"symbols_score_info":{"09992":0.9}},"isVote":1,"tweetType":1,"viewCount":1705,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886595911,"gmtCreate":1631603011233,"gmtModify":1676530587147,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"jj","listText":"jj","text":"jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/88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10:10","market":"hk","language":"zh","title":"Chuangsheng Group-B begins its IPO today, with an entry fee of HK$8,080.62.","url":"https://stock-news.laohu8.com/highlight/detail?id=1125233732","media":"老虎资讯综合","summary":"9月14日，创胜集团-B发布公告，将于9月14日-17日招股，公司拟发行4033万股股份，其中公开发售403.3万股，国际发售3629.7万股，每股发行价15.8-16.0港元，每手500股，预期将于","content":"<p>On September 14, Chuangsheng Group-B issued an announcement stating that it will launch an IPO from September 14 to 17. The company plans to issue 40.33 million shares, of which 4.033 million will be offered publicly and 36.297 million will be offered internationally. The issue price will be HK$15.8-16.0 per share, with 500 shares per lot. It is expected to be listed on September 29.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>Each lot consists of 500 shares, with an entry fee of HK$8,080.62.</p><p>The threshold for Group B is 400,000 shares, and the funds required for subscription are approximately HK$6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">Regarding cornerstone investors, several cornerstone investors agreed to subscribe for the number of shares available for subscription at the offer price, totaling approximately US$68 million, including LAV, Temasek, QIA, and the China State-owned Enterprise Restructuring Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, the company<b>There are currently no products approved for commercial sale and therefore no product sales revenue has been generated</b>substantially all of its revenue is derived from the provision of CDMO services to customers, primarily pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>The company was not profitable during the Track Record Period and incurred operating losses. In 2019, 2020 and the first three months of 2021, the company achieved revenues of RMB 44.14 million, RMB 80.98 million and RMB 7.883 million, respectively, while total comprehensive expenses for the year were RMB 438 million, RMB 320 million and RMB 71 million, respectively.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">Regarding the use of funds raised, the company's net proceeds were RMB 571 million (calculated based on the median issue price, assuming the over-allotment option is not exercised). According to the prospectus, the company intends to use the net proceeds from the share offering for the following purposes: 82% to fund the research and development of product candidates in the company's pipeline, ongoing and planned clinical and preclinical trials, preparation for registration filings, and other steps or activities related to the commercialization of the company's four main products; 8% to fund business development for expanding pipelines and developing technologies; 10% for general working capital and general operating expenses.</p><p>Chuangsheng Group is a clinical-stage biopharmaceutical company integrating discovery, research, development, manufacturing and business expansion capabilities. As of the Latest Practicable Date, the Company had independently discovered and developed eight of its nine drug candidates, covering validated, partially validated and novel biological pathways.</p><p>The core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company submitted a Phase 1 final analysis report to the National Medical Products Administration in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002) (a humanized sclerostin monoclonal antibody drug candidate for the treatment of osteoporosis). In 2019, Lilai authorized the introduction of the drug in Greater China.</p><p>It is worth noting that the company receives support from globally renowned strategic investors and professional funds focused on biotechnology.<b>Its shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Restructuring Fund, Teng Yue Partners, Hillhouse Capital, and Sequoia Capital China Fund.</b></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>Chuangsheng Group-B begins its IPO today, with an entry fee of HK$8,080.62.</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\">\nChuangsheng Group-B begins its IPO today, with an entry fee of HK$8,080.62.\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\">2021-09-14 10:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On September 14, Chuangsheng Group-B issued an announcement stating that it will launch an IPO from September 14 to 17. The company plans to issue 40.33 million shares, of which 4.033 million will be offered publicly and 36.297 million will be offered internationally. The issue price will be HK$15.8-16.0 per share, with 500 shares per lot. It is expected to be listed on September 29.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>Each lot consists of 500 shares, with an entry fee of HK$8,080.62.</p><p>The threshold for Group B is 400,000 shares, and the funds required for subscription are approximately HK$6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">Regarding cornerstone investors, several cornerstone investors agreed to subscribe for the number of shares available for subscription at the offer price, totaling approximately US$68 million, including LAV, Temasek, QIA, and the China State-owned Enterprise Restructuring Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, the company<b>There are currently no products approved for commercial sale and therefore no product sales revenue has been generated</b>substantially all of its revenue is derived from the provision of CDMO services to customers, primarily pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>The company was not profitable during the Track Record Period and incurred operating losses. In 2019, 2020 and the first three months of 2021, the company achieved revenues of RMB 44.14 million, RMB 80.98 million and RMB 7.883 million, respectively, while total comprehensive expenses for the year were RMB 438 million, RMB 320 million and RMB 71 million, respectively.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">Regarding the use of funds raised, the company's net proceeds were RMB 571 million (calculated based on the median issue price, assuming the over-allotment option is not exercised). According to the prospectus, the company intends to use the net proceeds from the share offering for the following purposes: 82% to fund the research and development of product candidates in the company's pipeline, ongoing and planned clinical and preclinical trials, preparation for registration filings, and other steps or activities related to the commercialization of the company's four main products; 8% to fund business development for expanding pipelines and developing technologies; 10% for general working capital and general operating expenses.</p><p>Chuangsheng Group is a clinical-stage biopharmaceutical company integrating discovery, research, development, manufacturing and business expansion capabilities. As of the Latest Practicable Date, the Company had independently discovered and developed eight of its nine drug candidates, covering validated, partially validated and novel biological pathways.</p><p>The core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company submitted a Phase 1 final analysis report to the National Medical Products Administration in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002) (a humanized sclerostin monoclonal antibody drug candidate for the treatment of osteoporosis). In 2019, Lilai authorized the introduction of the drug in Greater China.</p><p>It is worth noting that the company receives support from globally renowned strategic investors and professional funds focused on biotechnology.<b>Its shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Restructuring Fund, Teng Yue Partners, Hillhouse Capital, and Sequoia Capital China Fund.</b></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/819e63bbaff7db212baae89a294e955b","relate_stocks":{"06628":"创胜集团医药-B"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125233732","content_text":"9月14日，创胜集团-B发布公告，将于9月14日-17日招股，公司拟发行4033万股股份，其中公开发售403.3万股，国际发售3629.7万股，每股发行价15.8-16.0港元，每手500股，预期将于9月29日上市。申购阶梯：\n每手500股，入场费8080.62港元。\n乙组门槛为40万股，申购所需资金约6464492.80港元。基石投资者方面，多名基石投资者同意按发售价认购可供认购的发售股份数目，总额约6800万美元，包括LAV、淡马锡、QIA、中国国有企业结构调整基金。财务数据方面，公司目前尚无获准可进行商业销售的产品，因此并未产生任何产品销售收益，其绝大部分收益来自根据CDMO合约向客户（主要为制药及生物科技公司）提供CDMO服务。\n于往绩记录期公司尚未盈利，且产生经营亏损。于2019年、2020年及2021年前三个月，公司实现收入人民币4414万元、8098万元及788.3万元，同期录得年内全面开支总额分别为人民币4.38亿元、3.20亿元及0.71亿元。筹资用途方面，公司所得款项净额5.71亿元(假设超额配股权未获行使，以发行价中位数计算)。根据招股书，公司拟将股份发售所得款项净额用于以下用途：82%用于公司管线候选产品的研发、为进行中及计划中的临床及临床前试验、筹备注册备案以及其他与商业化公司四款主打产品有关的步骤或活动拨资；8%用于为扩充管线及开发技术的业务发展拨资；10%用作一般营运资金及一般营运费用。\n创胜集团是一家集发现、研究、开发、制造及业务拓展能力为一体的临床阶段生物制药公司。截至最后实际可行日期，公司已自主发现及开发九种候选药物中的八种药物，涵盖已验证的、部分验证的及新型生物通路。\n其中核心产品是MSB2311（一种针对实体瘤的人源化PD-L1单克隆抗体（单抗）候选药物），公司已于2021年1月向国家药监局提交1期结束分析报告。\n唯一授权引进的候选药物为Blosozumab（TST002）（一种用于治疗骨质疏松的人源化硬骨素单克隆抗体候选药物），于2019年自礼来授权引进该药在大中华区权利。\n值得注意的是，公司获得全球知名战略投资者及专注于生物科技的专业基金的支持，股东包括礼来亚洲基金、淡马锡、ARCH Ventures Partners、中国国有企业结构调整基金、Teng Yue Partners、高瓴资本及红杉资本中国基金等。","news_type":1,"symbols_score_info":{"06628":0.9}},"isVote":1,"tweetType":1,"viewCount":1747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880590433,"gmtCreate":1631063436122,"gmtModify":1676530456388,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Jj","listText":"Jj","text":"Jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880590433","repostId":"1195372778","repostType":2,"repost":{"id":"1195372778","kind":"news","weMediaInfo":{"introduction":"全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。","home_visible":1,"media_name":"英为财情Investing","id":"92","head_image":"https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313"},"pubTimestamp":1631013437,"share":"https://ttm.financial/m/news/1195372778?lang=en_US&edition=fundamental","pubTime":"2021-09-07 19:17","market":"us","language":"zh","title":"Goldman Sachs has been bearish on the US three times, while the S&P 500 has dismissed it.","url":"https://stock-news.laohu8.com/highlight/detail?id=1195372778","media":"英为财情Investing","summary":"周一，高盛经济学家Ronnie Walker在给客户的一份报告中写道，预计美国2021年的整体扩张速度为5.7%，低于8月底公布的6%预期，并将2021年底的失业率预期从此前的4.1%上调至4.2%。","content":"<p>On Monday, Goldman Sachs economist Ronnie Walker wrote in a report to clients that he expects the overall U.S. expansion rate to be 5.7% in 2021, lower than the 6% forecast released at the end of August, and raised his unemployment rate forecast for the end of 2021 to 4.2% from 4.1%. Because the outlook for American consumers will be more \"difficult\" than previously expected.</p><p>Walker expects weak growth to continue into next year, after which growth is expected to accelerate. U.S. economic growth is expected to accelerate in 2022, and the 2022 forecast has been raised from 4.5% to 4.6%.</p><p>In explaining the reasons for lowering the 2021 economic forecast, Walker wrote that with the emergence of the Delta variant, weakening fiscal support, and a shift in consumer demand from goods to services, U.S. consumer spending is expected to decrease. Supply chain disruptions have also affected inventory replenishment.</p><p><b>Wall Street is bearish on the US economy</b></p><p>This is not the first time Goldman Sachs has been pessimistic about the US economy; in fact, this is the third time in the past two months that Goldman Sachs has lowered its US economic growth forecast. The first time was in July, when U.S. GDP growth forecasts for the third and fourth quarters were lowered by 1% to 8.5% and 5.0%, respectively. The second time was in August, when Goldman Sachs lowered its third-quarter U.S. stock GDP forecast from 8.5% to 5.5%. In its revised forecast, Goldman Sachs also lowered its full-year 2021 GDP forecast from 6.4% to 6%, predicting that the U.S. economy would grow by 4.5% in 2022.</p><p>Not only Goldman Sachs, but Morgan Stanley also significantly lowered its third-quarter U.S. GDP forecast last week, from 6.5% growth to 2.9%. After lowering its third-quarter GDP forecast, Morgan Stanley's full-year U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast.</p><p>The stock market is a barometer of the economy. With Wall Street so bearish on the US economy, how has the US stock market performed?</p><p><b>US stocks are soaring</b></p><p>The S&P 500 and Nasdaq Composite hit new highs last week, and the U.S. stock market remains in the midst of a bull market frenzy. However, a closer look reveals that investors are adjusting their portfolios to cope with potential stock market volatility.</p><p>Utilities stocks have been the best-performing sector in the S&P 500 so far this quarter, rising 10.2%. Following closely behind are other sectors favored by conservative investors, including real estate and healthcare.</p><p>In the derivatives market, the spread between Chicago Board Options Exchange Volatility Index futures contracts and the VIX index has been higher in recent months than it has been for about 85% of the past five years. This suggests that some investors expect the calm in the stock market to be replaced by more drastic price fluctuations in the coming weeks and months.</p><p>Meanwhile, the Japanese yen and Swiss franc, which are considered safe-haven assets during uncertain times, outperformed most G10 currencies this quarter. This has been a year of good market returns, but it has also been a rather defensive bull market.</p><p>U.S. stocks have not fallen by more than 5% for 292 calendar days, which is almost three times the average length since World War II, and many are becoming increasingly uneasy about this. Rising valuations, slowing economic growth, and signs of excessive speculation have exacerbated their concerns.</p><p>Some analysts believe that some of the funds flowing into defensive stocks may be more related to investors chasing yields than to fears of an impending market collapse. The S&P 500 utilities index yields about 3%, while the benchmark 10-year U.S. Treasury yield was around 1.33% on Friday.</p><p><b>sum up</b></p><p>Defensive stocks are becoming increasingly sought after by the market, possibly due to sector rotation or increasing potential market risks. In any case, following market trends and being prepared for potential dramatic changes will help you go further.</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>Goldman Sachs has been bearish on the US three times, while the S&P 500 has dismissed it.</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\">\nGoldman Sachs has been bearish on the US three times, while the S&P 500 has dismissed it.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/92\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">英为财情Investing </p>\n<p class=\"h-time smaller\">2021-09-07 19:17</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Monday, Goldman Sachs economist Ronnie Walker wrote in a report to clients that he expects the overall U.S. expansion rate to be 5.7% in 2021, lower than the 6% forecast released at the end of August, and raised his unemployment rate forecast for the end of 2021 to 4.2% from 4.1%. Because the outlook for American consumers will be more \"difficult\" than previously expected.</p><p>Walker expects weak growth to continue into next year, after which growth is expected to accelerate. U.S. economic growth is expected to accelerate in 2022, and the 2022 forecast has been raised from 4.5% to 4.6%.</p><p>In explaining the reasons for lowering the 2021 economic forecast, Walker wrote that with the emergence of the Delta variant, weakening fiscal support, and a shift in consumer demand from goods to services, U.S. consumer spending is expected to decrease. Supply chain disruptions have also affected inventory replenishment.</p><p><b>Wall Street is bearish on the US economy</b></p><p>This is not the first time Goldman Sachs has been pessimistic about the US economy; in fact, this is the third time in the past two months that Goldman Sachs has lowered its US economic growth forecast. The first time was in July, when U.S. GDP growth forecasts for the third and fourth quarters were lowered by 1% to 8.5% and 5.0%, respectively. The second time was in August, when Goldman Sachs lowered its third-quarter U.S. stock GDP forecast from 8.5% to 5.5%. In its revised forecast, Goldman Sachs also lowered its full-year 2021 GDP forecast from 6.4% to 6%, predicting that the U.S. economy would grow by 4.5% in 2022.</p><p>Not only Goldman Sachs, but Morgan Stanley also significantly lowered its third-quarter U.S. GDP forecast last week, from 6.5% growth to 2.9%. After lowering its third-quarter GDP forecast, Morgan Stanley's full-year U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast.</p><p>The stock market is a barometer of the economy. With Wall Street so bearish on the US economy, how has the US stock market performed?</p><p><b>US stocks are soaring</b></p><p>The S&P 500 and Nasdaq Composite hit new highs last week, and the U.S. stock market remains in the midst of a bull market frenzy. However, a closer look reveals that investors are adjusting their portfolios to cope with potential stock market volatility.</p><p>Utilities stocks have been the best-performing sector in the S&P 500 so far this quarter, rising 10.2%. Following closely behind are other sectors favored by conservative investors, including real estate and healthcare.</p><p>In the derivatives market, the spread between Chicago Board Options Exchange Volatility Index futures contracts and the VIX index has been higher in recent months than it has been for about 85% of the past five years. This suggests that some investors expect the calm in the stock market to be replaced by more drastic price fluctuations in the coming weeks and months.</p><p>Meanwhile, the Japanese yen and Swiss franc, which are considered safe-haven assets during uncertain times, outperformed most G10 currencies this quarter. This has been a year of good market returns, but it has also been a rather defensive bull market.</p><p>U.S. stocks have not fallen by more than 5% for 292 calendar days, which is almost three times the average length since World War II, and many are becoming increasingly uneasy about this. Rising valuations, slowing economic growth, and signs of excessive speculation have exacerbated their concerns.</p><p>Some analysts believe that some of the funds flowing into defensive stocks may be more related to investors chasing yields than to fears of an impending market collapse. The S&P 500 utilities index yields about 3%, while the benchmark 10-year U.S. Treasury yield was around 1.33% on Friday.</p><p><b>sum up</b></p><p>Defensive stocks are becoming increasingly sought after by the market, possibly due to sector rotation or increasing potential market risks. In any case, following market trends and being prepared for potential dramatic changes will help you go further.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55eb327f580527889cf30bafa92692ae","relate_stocks":{".SPX":"S&P 500 Index"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195372778","content_text":"周一，高盛经济学家Ronnie Walker在给客户的一份报告中写道，预计美国2021年的整体扩张速度为5.7%，低于8月底公布的6%预期，并将2021年底的失业率预期从此前的4.1%上调至4.2%。因美国消费者面临的前景将比先前预期更为“艰难”。\nWalker预计疲弱的增长态势将延续到明年，此后料将加速增长。预计美国经济增长将在2022年加速，并将2022年预测值从4.5%上调至4.6%。\n在解释下调2021年经济预测的理由时，Walker写道，随着德尔塔变异株的出现，财政支持的减弱以及消费需求从商品转向服务，美国的消费支出料将减少；供应链中断也影响了库存补充。\n华尔街看空美国经济\n这不是高盛第一次看衰美国经济了，事实上这是高盛在最近的两个月中三次下调美国经济成长预期。第一次是在7月份，将美国第三季度和第四季度的GDP增长预期分别下调1%至8.5%和5.0%；第二次是在8月份，将美国第三季度美股GDP预期从8.5%下调至5.5%，高盛在修订后的预测中还将2021年全年GDP预测从6.4%下调至6%，预计2022年美国经济将增长4.5%。\n不仅是高盛，摩根士丹利上周也大幅下调了第三季美国国内生产总值(GDP)的预估，从增长6.5%调降至增长2.9%。下修三季度GDP预期后，摩根士丹利的美国今年全年GDP增速预期为5.6%，比高盛调降后的全年增速预期还低。\n股市是经济的晴雨表，在华尔街如此看空美国经济之下，美国股市表现如何呢？\n美股牛气冲天\n美国标准普尔500指数和纳斯达克综合指数上周再创新高，美国股市仍然沉浸在牛市的狂欢之中。但是我们仔细研究就会发现，投资者正在调整投资组合，以应对股市可能出现的震荡。\n公用事业类股是标普500指数本季度迄今为止表现最好的板块，涨幅为10.2%。紧随其后的是保守投资者的其他偏爱板块，包括房地产和医疗保健。\n在衍生品市场，近月芝加哥期权交易所波动率指数期货合约和VIX指数之间的价差比过去五年中约85%的时间都高。这表明，一些投资者预计在未来几周和几个月，股市的平静将被更剧烈的价格波动所取代。\n同时，在不确定时期被视为避险资产的日圆和瑞郎本季度的表现优于大多数G10货币。这是市场回报良好的一年，但这也是一个具有相当防卫色彩的牛市。\n美股已经有292个日历日没有出现5%以上的跌幅，这几乎是二战以来平均长度的三倍，许多人对此愈来愈觉得不安。估值上升、经济增长放缓以及过度投机的迹象，加剧了他们的担忧。\n也有分析师认为部分资金流入防御类股，可能更多与投资者追逐收益率有关，而不是担心市场即将崩溃。标普500公用事业指数的收益率约为3%，而指标美国10年期公债收益率周五为1.33%左右。\n总结\n防御类股越来越受到市场的追捧，可能是版块的轮换，也可能是市场潜在的风险在增加。不论如何，追随市场趋势并随时为可能发生的剧变做好准备才能走得更远。","news_type":1,"symbols_score_info":{".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1815,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816721157,"gmtCreate":1630537330979,"gmtModify":1676530330874,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Jj","listText":"Jj","text":"Jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816721157","repostId":"2164819075","repostType":2,"repost":{"id":"2164819075","kind":"news","pubTimestamp":1630531740,"share":"https://ttm.financial/m/news/2164819075?lang=en_US&edition=fundamental","pubTime":"2021-09-02 05:29","market":"hk","language":"zh","title":"Apple's ultimate product from the Cook era has been revealed! Unprecedented blockbuster new product categories","url":"https://stock-news.laohu8.com/highlight/detail?id=2164819075","media":"超超","summary":"　　据报道，库克希望在任期结束前为苹果再开拓出一个新品类。可能很多人会自然想到Apple Car，但Gurman的观点却是虚拟现实/增强现实相关。库克明白，汽车不是一蹴而就的产品，还很遥远。况且机会要留给硅谷年轻人，他已无法超越自己的巅峰。　　当然，这也显得“鸡贼”...","content":"<p><html><body><div><div itemprop=\"articleBody\"><img src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\"/><div><div><div></div></div></div>Cook reportedly hopes to... before the end of his term.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>This has opened up a new product category. Many people might naturally think of the Apple Car, but Gurman's view is related to virtual reality/augmented reality. Cook understood that the automobile was not a product that could be built overnight and was still a long way off. Moreover, opportunities should be left to young people in Silicon Valley; they are no longer able to surpass their peak.</p><p><span></span><img height=\"369\" src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\" width=\"553\"/></p><p>Of course, this also seems cunning. Making a car project a success is like adding icing on the cake, but if it fails, it will be ruined.</p><p>According to the plan, Apple's mixed reality headset will be launched around 2022, while its augmented reality headset will not be available until around 2025.</p><p>The report states that Cook's salary contract ends in 2025, and he is likely to retire between 2025 and 2028. He had previously stated that he probably wouldn't stay at Apple for the next 10 years.</p><p><div><img src=\"https://2c.zol-img.com.cn/product/209_100x75/426/ceIMvcQduLQ.jpg\"/></p><p><strong>Apple Macbook Pro 13 (M1/8GB/256GB/8-core) Apple M1 processor, octa-core graphics, Retina display, Magic Control backlit keyboard</strong></p><p><zspan>[Distributor]</zspan>JD.com</p><p><zspan>[Product Price]</zspan>9999 yuan</p><p>Enter to purchase</p><p></div><div><img src=\"https://2e.zol-img.com.cn/product/209_100x75/428/ceuKx1GDAAurI.jpg\"/></p><p><strong>Apple MacBook Air 13 (M1/8GB/256GB/7-core) Apple M1 processor, seven-core graphics, Retina display, Magic Control backlit keyboard</strong></p><p>Gift</p><p><zspan>[Distributor]</zspan>JD.com</p><p><zspan>[Product Price]</zspan>7999 yuan</p><p>Enter to purchase</p><p></div>This article is original. If you wish to reprint it, please indicate the source: Cook Era Apple's Ultimate Product Revealed! An unprecedented and groundbreaking new product category: https://nb.zol.com.cn/775/7755068.html</p><p><div zpv-events-inview=\"article-cont-bottom-viewport\"></div><div><ul><li><img height=\"245\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARHpeIDmP7AACzO3gPNxkAAI_PgG7XiQAALNT346.jpg\" width=\"310\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARH4KICVugAABL6mLnMuUAAI_PwN2wj0AAEwC833.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/06/0D/ChMlWV7DUqGIEd4KAABSddzqzb8AAPQewBNvBIAAFKN718.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFS6ISPeRAABE3b1wTUQAAO30wCU8tkAAET1631.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFNSIDy5FAABY1BMw0loAAO30gFvVi8AAFjs005.jpg\" width=\"160\"/></li><li><img height=\"100\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/04/05/ChMkKmAfh1iIV3AtAAEwe7C4uDsAAJjoAEpWccAATCT092.jpg\" width=\"640\"/></li></ul></div><div><span itemprop=\"url\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"indexUrl\">nb.zol.com.cn</span><span itemprop=\"isOriginal\">true</span><span itemprop=\"author\"><a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>Online</span><span itemprop=\"isBasedOnUrl\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"genre\">report</span><span itemprop=\"wordCount\">804</span><span itemprop=\"description\">According to reports, Cook hopes to develop another new product category for Apple before the end of his term. Many people might naturally think of the Apple Car, but Gurman's view is related to virtual reality/augmented reality. Cook understood that the automobile was not a product that could be built overnight and was still a long way off. Moreover, opportunities should be left to young people in Silicon Valley; they are no longer able to surpass their peak. Of course, this also seems \"cunning\"...</span></div></div></div></body></html></p>","source":"zol_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>Apple's ultimate product from the Cook era has been revealed! Unprecedented blockbuster new product categories</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\">\nApple's ultimate product from the Cook era has been revealed! Unprecedented blockbuster new product categories\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">超超</strong><span class=\"h-time small\">2021-09-02 05:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><div><div itemprop=\"articleBody\"><img src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\"/><div><div><div></div></div></div>Cook reportedly hopes to... before the end of his term.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>This has opened up a new product category. Many people might naturally think of the Apple Car, but Gurman's view is related to virtual reality/augmented reality. Cook understood that the automobile was not a product that could be built overnight and was still a long way off. Moreover, opportunities should be left to young people in Silicon Valley; they are no longer able to surpass their peak.</p><p><span></span><img height=\"369\" src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\" width=\"553\"/></p><p>Of course, this also seems cunning. Making a car project a success is like adding icing on the cake, but if it fails, it will be ruined.</p><p>According to the plan, Apple's mixed reality headset will be launched around 2022, while its augmented reality headset will not be available until around 2025.</p><p>The report states that Cook's salary contract ends in 2025, and he is likely to retire between 2025 and 2028. He had previously stated that he probably wouldn't stay at Apple for the next 10 years.</p><p><div><img src=\"https://2c.zol-img.com.cn/product/209_100x75/426/ceIMvcQduLQ.jpg\"/></p><p><strong>Apple Macbook Pro 13 (M1/8GB/256GB/8-core) Apple M1 processor, octa-core graphics, Retina display, Magic Control backlit keyboard</strong></p><p><zspan>[Distributor]</zspan>JD.com</p><p><zspan>[Product Price]</zspan>9999 yuan</p><p>Enter to purchase</p><p></div><div><img src=\"https://2e.zol-img.com.cn/product/209_100x75/428/ceuKx1GDAAurI.jpg\"/></p><p><strong>Apple MacBook Air 13 (M1/8GB/256GB/7-core) Apple M1 processor, seven-core graphics, Retina display, Magic Control backlit keyboard</strong></p><p>Gift</p><p><zspan>[Distributor]</zspan>JD.com</p><p><zspan>[Product Price]</zspan>7999 yuan</p><p>Enter to purchase</p><p></div>This article is original. If you wish to reprint it, please indicate the source: Cook Era Apple's Ultimate Product Revealed! An unprecedented and groundbreaking new product category: https://nb.zol.com.cn/775/7755068.html</p><p><div zpv-events-inview=\"article-cont-bottom-viewport\"></div><div><ul><li><img height=\"245\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARHpeIDmP7AACzO3gPNxkAAI_PgG7XiQAALNT346.jpg\" width=\"310\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARH4KICVugAABL6mLnMuUAAI_PwN2wj0AAEwC833.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/06/0D/ChMlWV7DUqGIEd4KAABSddzqzb8AAPQewBNvBIAAFKN718.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFS6ISPeRAABE3b1wTUQAAO30wCU8tkAAET1631.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFNSIDy5FAABY1BMw0loAAO30gFvVi8AAFjs005.jpg\" width=\"160\"/></li><li><img height=\"100\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/04/05/ChMkKmAfh1iIV3AtAAEwe7C4uDsAAJjoAEpWccAATCT092.jpg\" width=\"640\"/></li></ul></div><div><span itemprop=\"url\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"indexUrl\">nb.zol.com.cn</span><span itemprop=\"isOriginal\">true</span><span itemprop=\"author\"><a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>Online</span><span itemprop=\"isBasedOnUrl\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"genre\">report</span><span itemprop=\"wordCount\">804</span><span itemprop=\"description\">According to reports, Cook hopes to develop another new product category for Apple before the end of his term. Many people might naturally think of the Apple Car, but Gurman's view is related to virtual reality/augmented reality. Cook understood that the automobile was not a product that could be built overnight and was still a long way off. Moreover, opportunities should be left to young people in Silicon Valley; they are no longer able to surpass their peak. Of course, this also seems \"cunning\"...</span></div></div></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://nb.zol.com.cn/775/7755068.html\">超超</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0d8ada6a43017d400bcffc8d2d50c562","relate_stocks":{"AAPL":"苹果"},"source_url":"http://nb.zol.com.cn/775/7755068.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164819075","content_text":"据报道，库克希望在任期结束前为苹果再开拓出一个新品类。可能很多人会自然想到Apple Car，但Gurman的观点却是虚拟现实/增强现实相关。库克明白，汽车不是一蹴而就的产品，还很遥远。况且机会要留给硅谷年轻人，他已无法超越自己的巅峰。　　当然，这也显得“鸡贼”，汽车项目做成了那叫锦上添花，一旦失败可就是“身败名裂”了。　　按计划，苹果的混合现实头显2022年左右推出、增强现实头显则要等到2025年左右。　　报道称，库克的工资合同到2025年结束，他大概率会在2025年到2028年之间退休。他此前曾表示，下一个10年自己应该不会呆在苹果了。苹果Macbook Pro 13(M1/8GB/256GB/8核) Apple M1处理器，八核核心显卡，视网膜显示屏，妙控背光键盘[经销商] 京东商城[产品售价] 9999元进入购买苹果MacBook Air 13(M1/8GB/256GB/7核) Apple M1处理器，七核核心显卡，视网膜显示屏，妙控背光键盘赠[经销商] 京东商城[产品售价] 7999元进入购买本文属于原创文章，如若转载，请注明来源：库克时代苹果终极产品曝光！前所未见的重磅新品类https://nb.zol.com.cn/775/7755068.html\n\n\n\n\n\nhttps://nb.zol.com.cn/775/7755068.html\nnb.zol.com.cn\ntrue\n中关村在线\nhttps://nb.zol.com.cn/775/7755068.html\nreport\n804\n　　据报道，库克希望在任期结束前为苹果再开拓出一个新品类。可能很多人会自然想到Apple Car，但Gurman的观点却是虚拟现实/增强现实相关。库克明白，汽车不是一蹴而就的产品，还很遥远。况且机会要留给硅谷年轻人，他已无法超越自己的巅峰。　　当然，这也显得“鸡贼”...","news_type":1,"symbols_score_info":{"AAPL":1}},"isVote":1,"tweetType":1,"viewCount":1837,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810097755,"gmtCreate":1629933791477,"gmtModify":1676530174067,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810097755","repostId":"2162068635","repostType":2,"isVote":1,"tweetType":1,"viewCount":1741,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832558422,"gmtCreate":1629672075666,"gmtModify":1676530087554,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Jj","listText":"Jj","text":"Jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/832558422","repostId":"1151137736","repostType":4,"isVote":1,"tweetType":1,"viewCount":2001,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832153466,"gmtCreate":1629600244255,"gmtModify":1676530076827,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Jsjsj","listText":"Jsjsj","text":"Jsjsj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/832153466","repostId":"2161274943","repostType":2,"repost":{"id":"2161274943","kind":"highlight","pubTimestamp":1629592848,"share":"https://ttm.financial/m/news/2161274943?lang=en_US&edition=fundamental","pubTime":"2021-08-22 08:40","market":"us","language":"zh","title":"Maybe on Monday! Pfizer vaccine will be fully approved in the United States","url":"https://stock-news.laohu8.com/highlight/detail?id=2161274943","media":"华尔街见闻","summary":"不仅能为更多的人提供保护，全面获批也可能是辉瑞疫苗的一大里程碑。\n据《纽约时报》援引消息人士的话报道称，美国食品和药物管理局(FDA)可能于周一全面批准辉瑞公司的新冠疫苗。\n随着文书工作和与辉瑞的谈判","content":"<p>Not only can it provide protection for more people, but full approval could also be...<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>A major milestone for vaccines.</p><p>According to<a href=\"https://laohu8.com/S/NYT\">New York times</a>According to reports citing sources, the U.S. Food and Drug Administration (FDA) may fully approve Pfizer's COVID-19 vaccine on Monday.</p><p>As paperwork and negotiations with Pfizer continue, the final review results may exceed this date. This move will make Pfizer's vaccine the first COVID-19 vaccine to go from emergency use authorization to full FDA approval.</p><p>On August 8, White House chief medical advisor Dr. Anthony Fauci told the Associated Press that he hopes the vaccine will be fully approved by August, which would allow more companies and schools to mandate vaccinations.</p><p>With the surge in COVID-19 cases across the United States in recent weeks, major U.S. companies are becoming increasingly strict in their regulations regarding employee vaccinations. Some companies say they will include full FDA approval as part of their decision-making process.</p><p>As of Friday, data from the US Centers for Disease Control and Prevention (CDC) showed that<b>Pfizer's vaccine has administered more than 203 million doses nationwide, effectively protecting more than 91 million people in the United States.</b></p><p>Pfizer and BioNTech began applying for biopharmaceutical licenses for their vaccines in May this year after receiving emergency use authorization from the FDA last December.</p><p>According to a previous report by CNBC, pharmaceutical companies authorized by the European Union are prohibited from promoting their vaccines.</p><p>But if formally authorized,<b>Pfizer and BioNTech's vaccines will remain on the market after the pandemic ends, and they will be able to promote their vaccines directly to consumers.</b></p><p>On August 16, the two companies announced that after submitting clinical trial data to the FDA, they began the approval process to provide booster shots to fully vaccinated people.</p><p>In addition, senior health officials from agencies such as the CDC, the White House, and the FDA said in a statement Wednesday that the effectiveness of mRNA vaccines can decline over time, especially for people with compromised immune systems.</p><p>They said the United States will begin distributing booster vaccines to the public in September.</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>Maybe on Monday! Pfizer vaccine will be fully approved in the United States</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\">\nMaybe on Monday! Pfizer vaccine will be fully approved in the United States\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\">2021-08-22 08:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Not only can it provide protection for more people, but full approval could also be...<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>A major milestone for vaccines.</p><p>According to<a href=\"https://laohu8.com/S/NYT\">New York times</a>According to reports citing sources, the U.S. Food and Drug Administration (FDA) may fully approve Pfizer's COVID-19 vaccine on Monday.</p><p>As paperwork and negotiations with Pfizer continue, the final review results may exceed this date. This move will make Pfizer's vaccine the first COVID-19 vaccine to go from emergency use authorization to full FDA approval.</p><p>On August 8, White House chief medical advisor Dr. Anthony Fauci told the Associated Press that he hopes the vaccine will be fully approved by August, which would allow more companies and schools to mandate vaccinations.</p><p>With the surge in COVID-19 cases across the United States in recent weeks, major U.S. companies are becoming increasingly strict in their regulations regarding employee vaccinations. Some companies say they will include full FDA approval as part of their decision-making process.</p><p>As of Friday, data from the US Centers for Disease Control and Prevention (CDC) showed that<b>Pfizer's vaccine has administered more than 203 million doses nationwide, effectively protecting more than 91 million people in the United States.</b></p><p>Pfizer and BioNTech began applying for biopharmaceutical licenses for their vaccines in May this year after receiving emergency use authorization from the FDA last December.</p><p>According to a previous report by CNBC, pharmaceutical companies authorized by the European Union are prohibited from promoting their vaccines.</p><p>But if formally authorized,<b>Pfizer and BioNTech's vaccines will remain on the market after the pandemic ends, and they will be able to promote their vaccines directly to consumers.</b></p><p>On August 16, the two companies announced that after submitting clinical trial data to the FDA, they began the approval process to provide booster shots to fully vaccinated people.</p><p>In addition, senior health officials from agencies such as the CDC, the White House, and the FDA said in a statement Wednesday that the effectiveness of mRNA vaccines can decline over time, especially for people with compromised immune systems.</p><p>They said the United States will begin distributing booster vaccines to the public in September.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3638520\">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/6e474d690ea02c536f0fd4c03fc3ddef","relate_stocks":{},"source_url":"https://wallstreetcn.com/articles/3638520","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161274943","content_text":"不仅能为更多的人提供保护，全面获批也可能是辉瑞疫苗的一大里程碑。\n据《纽约时报》援引消息人士的话报道称，美国食品和药物管理局(FDA)可能于周一全面批准辉瑞公司的新冠疫苗。\n随着文书工作和与辉瑞的谈判继续进行，最终审查结果可能会超过这一日期，此举将使辉瑞的疫苗成为首个从紧急使用授权到完全获得FDA批准的新冠疫苗。\n8月8日，白宫首席医疗顾问安东尼·福奇(Anthony Fauci)博士对美联社表示，他希望疫苗将在8月之内获得全面批准，这将使更多公司和学校强制要求人们接种疫苗。\n随着最近几周美国各地新冠病例的激增，美国各大公司对员工接种疫苗的相关规定也越来越严格。一些公司称，会将FDA的全面批准作为其决策过程的一部分。\n截至周五，美国疾病控制与预防中心（CDC）的数据显示，辉瑞的疫苗已经在全国范围内接种了超过2.03亿剂，使美国超过9100万人得到有效保护。\n辉瑞和BioNTech公司在去年12月获得FDA的紧急使用授权后，于今年5月开始申请疫苗的生物制药许可证。\n据CNBC此前报道，获得欧盟授权的制药商被禁止推广他们的疫苗。\n但如果获得正式授权，辉瑞和BioNTech的疫苗在疫情结束后仍将在市场上销售，而且能够直接向消费者宣传其疫苗。\n在8月16日，两家公司宣布，在向FDA提交临床试验数据后，他们开始了对完全接种者提供加强针的批准程序。\n另外，CDC、白宫和FDA等机构的高级卫生官员周三在一份声明中称，mRNA疫苗的有效性会随着时间的推移而下降，尤其是对那些免疫系统受损的人。\n他们表示，美国将于9月份开始向公众分发加强型的疫苗。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1696,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838285249,"gmtCreate":1629413991981,"gmtModify":1676530030405,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838285249","repostId":"1125444263","repostType":4,"repost":{"id":"1125444263","kind":"news","pubTimestamp":1629430600,"share":"https://ttm.financial/m/news/1125444263?lang=en_US&edition=fundamental","pubTime":"2021-08-20 11:36","market":"hk","language":"zh","title":"Douyin made Meituan uncomfortable, but not because it was tempted by food delivery.","url":"https://stock-news.laohu8.com/highlight/detail?id=1125444263","media":"新芒","summary":"发酵一个多月的抖音心动外卖，至今没有落地。\n尚在内测阶段的心动外卖，普通用户找不到服务入口。提供抖音外卖服务的商家也寥若星辰，肯德基和喜茶都是通过自身的小程序处理外卖订单。\n但这不妨碍大家对这件事的猜","content":"<p>The Douyin (TikTok) platform, which has been brewing for over a month, has yet to be launched.</p><p>Xindong Waimai, which is still in the internal testing phase, cannot find a service entry point for ordinary users. There are very few merchants offering Douyin food delivery services; KFC and Heytea both process food delivery orders through their own mini-programs.</p><p>But that doesn't stop people from speculating about this matter. The interpretations and analyses of ByteDance's food delivery business are always the most eye-catching. The topic of \"XinDong Waimai\" on Douyin has been viewed 380 million times. Some bloggers even packaged it as a trend for ordinary people to achieve financial freedom.</p><p>Perhaps we're all overthinking it and exaggerating the influence of Douyin in the food delivery industry. At least at this point, it is too early to regard Douyin food delivery as a force disrupting the market landscape.</p><p>Food delivery is just one example of Douyin's foray into local life services. Compared to this new business where you \"only hear the voice but don't see the person,\" it's better to focus on in-store consumption on Douyin first.</p><p>Judging from Meituan's internal reaction, what's upsetting them isn't Douyin food delivery. Rather, it's Douyin's in-store business eroding its advertising revenue.</p><p><b>01</b></p><p><b>Unable to get through</b></p><p>\"I don't know, I haven't heard of it.\" When faced with the Douyin group-buying packages showcased by \"Xinmang Daybreak\", the waiters at all four restaurants said they were unaware of them. They weren't even sure if this package would work.</p><p>A large hot pot restaurant in Chaoyang District, Beijing, did not record the set meals on Douyin in its backend cashier system. In other words, consumers cannot place an order after purchasing the package. After consulting the store manager, they simply recommended that we buy it from Meituan.</p><p>This is not an isolated case. A founder of a national chain restaurant told \"Xinmang Daybreak\" that whether it is group buying or food delivery, the cashier systems of Douyin and merchants are not integrated and have not achieved a complete closed loop. Group buying is currently just an experience where users bring coupons to the store to redeem them, and the whole process is not particularly smooth.</p><p>Douyin has already laid a lot of groundwork for local life services.</p><p>Last March, Douyin launched the \"Douyin Group Buying\" function. Now, when you click on the Douyin location interface, the discounted group buying service has covered three sectors: catering and food, tourism and accommodation, and leisure and entertainment, which is also the entire content of local life.</p><p>A year has passed, and the construction of Douyin's in-store merchant ecosystem is not optimistic.</p><p>Our testing revealed that out of nearly 100 restaurants within a one-kilometer radius, only 13 had launched Douyin group-buying, while for the same location and distance, 66 merchants participated in Meituan group-buying. In the tourism and accommodation sector, there are currently no businesses operating in Beijing; the nearest hotel is in Langfang, Hebei Province.</p><p>We understand that despite ByteDance's huge traffic and brand influence, there are no shortcuts to participating in the local life game. Think about Alibaba. They've been fighting so hard for so many years, neither lacking traffic nor money, but they just can't seize this market share.</p><p>Xu Yang, a restaurant owner in Beijing, revealed to \"Xinmang Daybreak\" that two months ago, Douyin's ground promotion came knocking, so they launched a group-buying package. He wasn't sure if he could bring in new customers. Xu Yang's attitude is, \"Douyin's group-buying is just hanging around, and we don't have the energy to operate it at the moment.\"</p><p>Later, the restaurant made some adjustments to the menu, and the ground promotion on Douyin stopped coming, and Xu Yang did not proactively change the set meals on Douyin. As a result, this restaurant offers far more group-buying packages on Meituan than on Douyin.</p><p>This situation is not uncommon. Our comparison revealed that one restaurant chain offered as many as 19 group-buying discounts on Meituan, while Douyin only offered 3.</p><p>The co-founders of a chain restaurant in Guangxi that \"Xinmang Daybreak\" contacted were more direct: they refused to participate in Douyin's group-buying activities. The reason is simple: \"Mass-market restaurants have thin profit margins, and offering more discounts is like drinking poison to quench thirst.\"</p><p>Xu Yang revealed that Meituan's group-buying commission is about 2%, while Douyin's group-buying commission is not. Commission is not the key; group buying will result in losses if the discount is below 30%. This is also an important reason why Xu Yang doesn't pay attention to Douyin group buying.</p><p>Longyan, nearly 2,000 kilometers from Beijing, is Zhang Yiming's hometown. Locally, people know this entrepreneur from Longyan. However, this regional friendship cannot translate into commercial support.</p><p>Zhang Xuan, who has run a milk tea shop in Longyan for six years, told \"Xinmang Daybreak\" that for the past two months, \"people from Douyin have been coming to promote it every day, sometimes up to four people a day.\" But he just doesn't want to do Douyin group buying.</p><p>In Zhang Xuan's view, group-buying prices are kept too low, basically around 50% off. Group buying can only break even; treat it as advertising. He was already very busy and didn't want to cause himself any more trouble. Many businesses just keep it hanging, but they don't want to do it, \"after all, businesses aren't for charity.\"</p><p>According to him, Douyin's current on-the-ground promotions mainly target group buying, and there is no news about food delivery yet; he only heard that it is in internal testing. He then added, \"This is still Meituan's domain.\" Longyan is also Wang Xing's hometown.</p><p><b>02</b></p><p><b>Threatening Meituan?</b></p><p>Although the results of Douyin's in-store group buying efforts are not particularly dramatic, a tense atmosphere still prevails within Meituan. A Meituan insider said, \"It feels like I've been stabbed by ByteDance.\"</p><p>The most direct result of Douyin's foray into local life is that it erodes Meituan's in-store advertising revenue.</p><p>Although the aforementioned restaurants in Guangxi did not participate in group buying, they have been conducting regional product promotion and advertising on Douyin. Their principle is: \"Meituan and Douyin are the same: focus more on attracting traffic through content display and less on attracting traffic that reduces profits.\" The specific implementation strategy is: \"Brand promotion should cover the entire city with heavy firepower, and store promotion should radiate within a radius of two or three kilometers.\"</p><p>As a result, with a roughly fixed annual advertising budget, Douyin naturally increases its budget, while Meituan naturally decreases it.</p><p>This logic is natural. Merchants' need for traffic generation and promotion has never changed. Only the form of bearing has changed.</p><p>If Dianping's era was dominated by text and image content, and with the rise of short videos, Douyin, as the largest platform, will naturally also provide local life services. Furthermore, both Dianping and Douyin rely on the UGC content creation model.</p><p>Douyin has launched a series of influencer store visits, encouraging content creators to create POI videos in offline stores. After users apply to become group-buying e-commerce influencers, they receive tasks in the backend, which are the merchants' advertising campaigns. Shoot a check-in video with a location to receive traffic support and commission sharing.</p><p>The founder of the aforementioned national chain restaurant also believes that compared to home delivery, Douyin's \"in-store delivery\" service is more natural. \"If a closed loop can be formed, the experience for merchants and consumers will be smoother, and the future traffic market will be larger.\"</p><p>The biggest question among Meituan insiders is whether senior management has a contingency plan to deal with Douyin's increasing penetration of in-store business.</p><p>Since merging with Dianping in 2015, Meituan has been moving away from Dianping in recent years. When Xiaohongshu first ventured into local life, Dianping was slow to respond. When Douyin launched a major offensive, no comments were seen. There were even reports of layoffs on Dianping (a Chinese commentary platform).</p><p>The problem is that many of Dianping's marginalized businesses actually have very good cash flow. For example, catering, beautiful women, weddings, etc. These revenues are all supporting Meituan's innovative businesses, while its core business, food delivery, has not yet been profitable. If Douyin's major offensive has a substantial impact on Meituan's advertising revenue, it would not be a good thing.</p><p>Does this count as Meituan's mistake? “We shouldn’t just stand by and watch it happen. At least put on your protective suit before someone tries to stab you, right?”</p><p><b>03</b></p><p><b>How determined is Douyin to start food delivery?</b></p><p>Why is Douyin in such a hurry to launch its food delivery business before its in-store business is fully established?</p><p>In terms of market size, high-frequency food delivery is a good business. Meituan's revenue reached 114.8 billion yuan in 2020, with its food delivery business showing strong performance, with transaction volume increasing by 24.5% year-on-year and revenue reaching 66.3 billion yuan, accounting for approximately 58% of total revenue.</p><p>According to data from iResearch Consulting, by 2025, the domestic local life services market will grow from 19.5 trillion yuan in 2020 to 35.3 trillion yuan. Among them, the online penetration rate of lifestyle services is only 12.7%. In other words, the main competitive area in this market of tens of thousands of people is still offline.</p><p>With such a huge market, ByteDance naturally wouldn't let it go. Local life is not only an integral part of Douyin's content ecosystem, but also increases the likelihood of traffic monetization.</p><p>According to LatePost, at the end of last year, ByteDance's commercialization department established a \"Local Direct Business Center\" for local lifestyle businesses, and about 10,000 employees were reassigned to participate in customer acquisition in industries such as lifestyle services, cultural tourism, and catering.</p><p>The reason for launching the local lifestyle business on Douyin is that among Douyin's three major traffic segments—local traffic, follow traffic, and traffic recommendation—local traffic has the lowest utilization rate and is most aligned with the local lifestyle business, thus resulting in high monetization efficiency.</p><p>More than one restaurant owner believes that the reason Douyin ventured into local life is to maximize traffic monetization.</p><p>They are generally optimistic about Douyin's in-store traffic generation business. However, they were not so enthusiastic about the much-discussed \"XinDong Waimai\".</p><p>Internet analyst Tang Xin said she is not optimistic about Douyin's food delivery business. \"Because food delivery is a highly purposeful demand scenario, while Douyin focuses more on exploring users' non-purposeful needs. Even if ByteDance can make up for this difference through algorithms and traffic subsidies, it will still take a long time to plan and promote.\"</p><p>He added, \"The most difficult part of this is not finding demand, but building a merchant ecosystem. This requires a large on-the-ground sales team, which ByteDance currently lacks.\"</p><p>A Meituan Waimai employee reported that they did not sense any particular atmosphere internally.</p><p>In his view, the core competitive advantage of food delivery lies in two aspects: product supply and logistics and distribution.</p><p>When customers order takeout from you, there should always be something to choose from. The number of newly signed merchants remains an important indicator for Meituan Waimai's business development performance. Prior to the anti-monopoly investigation, Meituan demanded exclusive rights from some merchants. Meituan offers both express and dedicated delivery services, and its millions of riders are the result of years of development. For reference, Meituan's expenditure on rider costs alone reached 48.69 billion yuan in 2020.</p><p>Meituan is also wary of Ele.me's counterattack. Therefore, large-scale training is conducted every summer and winter to maintain team vigilance through battle drills. Particular attention is paid to the resources of national restaurant chain brands and regional brands to ensure that they are not lost.</p><p>Based on this, they do not believe that Xindong Waimai will have a huge impact on the industry landscape in the short term.</p><p>The truth is, the several catering executives we met shared a common perception: Douyin's understanding of the catering industry still needs to be deepened.</p><p>XD Waimai is currently in the internal testing phase, and brands such as Heytea and KFC can offer delivery services. Similar to group buying, there is no integration with the merchant's cash register system, the categories of food delivery are limited, and it is still a group buying package. Neither the selection of varieties nor the delivery time can be guaranteed.</p><p>But in any case, no one can ignore Douyin's attack on local life.</p><p>At this time, ByteDance was more like Tencent before 2010, boasting national-level applications, no shortage of traffic or money, and never giving up on new business growth curves. This is also why ByteDance has been making inroads in education, gaming, consumption and other fields in the past two years. Most importantly, it is often the opponent who is threatened.</p><p>In March of this year, on ByteDance's ninth anniversary, Zhang Yiming once said in an internal speech that his competitors were the best blue teams. He reminded the team neither to shy away from competition nor to compete for the sake of competition. If the mindset is unbalanced, some real opportunities will be missed.</p><p>ByteDance is examining itself and comparing itself to others.</p><p>(Xu Yang and Zhang Xuan are pseudonyms in this article)</p>","source":"lsy1584686584163","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>Douyin made Meituan uncomfortable, but not because it was tempted by food delivery.</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\">\nDouyin made Meituan uncomfortable, but not because it was tempted by food delivery.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新芒</strong><span class=\"h-time small\">2021-08-20 11:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Douyin (TikTok) platform, which has been brewing for over a month, has yet to be launched.</p><p>Xindong Waimai, which is still in the internal testing phase, cannot find a service entry point for ordinary users. There are very few merchants offering Douyin food delivery services; KFC and Heytea both process food delivery orders through their own mini-programs.</p><p>But that doesn't stop people from speculating about this matter. The interpretations and analyses of ByteDance's food delivery business are always the most eye-catching. The topic of \"XinDong Waimai\" on Douyin has been viewed 380 million times. Some bloggers even packaged it as a trend for ordinary people to achieve financial freedom.</p><p>Perhaps we're all overthinking it and exaggerating the influence of Douyin in the food delivery industry. At least at this point, it is too early to regard Douyin food delivery as a force disrupting the market landscape.</p><p>Food delivery is just one example of Douyin's foray into local life services. Compared to this new business where you \"only hear the voice but don't see the person,\" it's better to focus on in-store consumption on Douyin first.</p><p>Judging from Meituan's internal reaction, what's upsetting them isn't Douyin food delivery. Rather, it's Douyin's in-store business eroding its advertising revenue.</p><p><b>01</b></p><p><b>Unable to get through</b></p><p>\"I don't know, I haven't heard of it.\" When faced with the Douyin group-buying packages showcased by \"Xinmang Daybreak\", the waiters at all four restaurants said they were unaware of them. They weren't even sure if this package would work.</p><p>A large hot pot restaurant in Chaoyang District, Beijing, did not record the set meals on Douyin in its backend cashier system. In other words, consumers cannot place an order after purchasing the package. After consulting the store manager, they simply recommended that we buy it from Meituan.</p><p>This is not an isolated case. A founder of a national chain restaurant told \"Xinmang Daybreak\" that whether it is group buying or food delivery, the cashier systems of Douyin and merchants are not integrated and have not achieved a complete closed loop. Group buying is currently just an experience where users bring coupons to the store to redeem them, and the whole process is not particularly smooth.</p><p>Douyin has already laid a lot of groundwork for local life services.</p><p>Last March, Douyin launched the \"Douyin Group Buying\" function. Now, when you click on the Douyin location interface, the discounted group buying service has covered three sectors: catering and food, tourism and accommodation, and leisure and entertainment, which is also the entire content of local life.</p><p>A year has passed, and the construction of Douyin's in-store merchant ecosystem is not optimistic.</p><p>Our testing revealed that out of nearly 100 restaurants within a one-kilometer radius, only 13 had launched Douyin group-buying, while for the same location and distance, 66 merchants participated in Meituan group-buying. In the tourism and accommodation sector, there are currently no businesses operating in Beijing; the nearest hotel is in Langfang, Hebei Province.</p><p>We understand that despite ByteDance's huge traffic and brand influence, there are no shortcuts to participating in the local life game. Think about Alibaba. They've been fighting so hard for so many years, neither lacking traffic nor money, but they just can't seize this market share.</p><p>Xu Yang, a restaurant owner in Beijing, revealed to \"Xinmang Daybreak\" that two months ago, Douyin's ground promotion came knocking, so they launched a group-buying package. He wasn't sure if he could bring in new customers. Xu Yang's attitude is, \"Douyin's group-buying is just hanging around, and we don't have the energy to operate it at the moment.\"</p><p>Later, the restaurant made some adjustments to the menu, and the ground promotion on Douyin stopped coming, and Xu Yang did not proactively change the set meals on Douyin. As a result, this restaurant offers far more group-buying packages on Meituan than on Douyin.</p><p>This situation is not uncommon. Our comparison revealed that one restaurant chain offered as many as 19 group-buying discounts on Meituan, while Douyin only offered 3.</p><p>The co-founders of a chain restaurant in Guangxi that \"Xinmang Daybreak\" contacted were more direct: they refused to participate in Douyin's group-buying activities. The reason is simple: \"Mass-market restaurants have thin profit margins, and offering more discounts is like drinking poison to quench thirst.\"</p><p>Xu Yang revealed that Meituan's group-buying commission is about 2%, while Douyin's group-buying commission is not. Commission is not the key; group buying will result in losses if the discount is below 30%. This is also an important reason why Xu Yang doesn't pay attention to Douyin group buying.</p><p>Longyan, nearly 2,000 kilometers from Beijing, is Zhang Yiming's hometown. Locally, people know this entrepreneur from Longyan. However, this regional friendship cannot translate into commercial support.</p><p>Zhang Xuan, who has run a milk tea shop in Longyan for six years, told \"Xinmang Daybreak\" that for the past two months, \"people from Douyin have been coming to promote it every day, sometimes up to four people a day.\" But he just doesn't want to do Douyin group buying.</p><p>In Zhang Xuan's view, group-buying prices are kept too low, basically around 50% off. Group buying can only break even; treat it as advertising. He was already very busy and didn't want to cause himself any more trouble. Many businesses just keep it hanging, but they don't want to do it, \"after all, businesses aren't for charity.\"</p><p>According to him, Douyin's current on-the-ground promotions mainly target group buying, and there is no news about food delivery yet; he only heard that it is in internal testing. He then added, \"This is still Meituan's domain.\" Longyan is also Wang Xing's hometown.</p><p><b>02</b></p><p><b>Threatening Meituan?</b></p><p>Although the results of Douyin's in-store group buying efforts are not particularly dramatic, a tense atmosphere still prevails within Meituan. A Meituan insider said, \"It feels like I've been stabbed by ByteDance.\"</p><p>The most direct result of Douyin's foray into local life is that it erodes Meituan's in-store advertising revenue.</p><p>Although the aforementioned restaurants in Guangxi did not participate in group buying, they have been conducting regional product promotion and advertising on Douyin. Their principle is: \"Meituan and Douyin are the same: focus more on attracting traffic through content display and less on attracting traffic that reduces profits.\" The specific implementation strategy is: \"Brand promotion should cover the entire city with heavy firepower, and store promotion should radiate within a radius of two or three kilometers.\"</p><p>As a result, with a roughly fixed annual advertising budget, Douyin naturally increases its budget, while Meituan naturally decreases it.</p><p>This logic is natural. Merchants' need for traffic generation and promotion has never changed. Only the form of bearing has changed.</p><p>If Dianping's era was dominated by text and image content, and with the rise of short videos, Douyin, as the largest platform, will naturally also provide local life services. Furthermore, both Dianping and Douyin rely on the UGC content creation model.</p><p>Douyin has launched a series of influencer store visits, encouraging content creators to create POI videos in offline stores. After users apply to become group-buying e-commerce influencers, they receive tasks in the backend, which are the merchants' advertising campaigns. Shoot a check-in video with a location to receive traffic support and commission sharing.</p><p>The founder of the aforementioned national chain restaurant also believes that compared to home delivery, Douyin's \"in-store delivery\" service is more natural. \"If a closed loop can be formed, the experience for merchants and consumers will be smoother, and the future traffic market will be larger.\"</p><p>The biggest question among Meituan insiders is whether senior management has a contingency plan to deal with Douyin's increasing penetration of in-store business.</p><p>Since merging with Dianping in 2015, Meituan has been moving away from Dianping in recent years. When Xiaohongshu first ventured into local life, Dianping was slow to respond. When Douyin launched a major offensive, no comments were seen. There were even reports of layoffs on Dianping (a Chinese commentary platform).</p><p>The problem is that many of Dianping's marginalized businesses actually have very good cash flow. For example, catering, beautiful women, weddings, etc. These revenues are all supporting Meituan's innovative businesses, while its core business, food delivery, has not yet been profitable. If Douyin's major offensive has a substantial impact on Meituan's advertising revenue, it would not be a good thing.</p><p>Does this count as Meituan's mistake? “We shouldn’t just stand by and watch it happen. At least put on your protective suit before someone tries to stab you, right?”</p><p><b>03</b></p><p><b>How determined is Douyin to start food delivery?</b></p><p>Why is Douyin in such a hurry to launch its food delivery business before its in-store business is fully established?</p><p>In terms of market size, high-frequency food delivery is a good business. Meituan's revenue reached 114.8 billion yuan in 2020, with its food delivery business showing strong performance, with transaction volume increasing by 24.5% year-on-year and revenue reaching 66.3 billion yuan, accounting for approximately 58% of total revenue.</p><p>According to data from iResearch Consulting, by 2025, the domestic local life services market will grow from 19.5 trillion yuan in 2020 to 35.3 trillion yuan. Among them, the online penetration rate of lifestyle services is only 12.7%. In other words, the main competitive area in this market of tens of thousands of people is still offline.</p><p>With such a huge market, ByteDance naturally wouldn't let it go. Local life is not only an integral part of Douyin's content ecosystem, but also increases the likelihood of traffic monetization.</p><p>According to LatePost, at the end of last year, ByteDance's commercialization department established a \"Local Direct Business Center\" for local lifestyle businesses, and about 10,000 employees were reassigned to participate in customer acquisition in industries such as lifestyle services, cultural tourism, and catering.</p><p>The reason for launching the local lifestyle business on Douyin is that among Douyin's three major traffic segments—local traffic, follow traffic, and traffic recommendation—local traffic has the lowest utilization rate and is most aligned with the local lifestyle business, thus resulting in high monetization efficiency.</p><p>More than one restaurant owner believes that the reason Douyin ventured into local life is to maximize traffic monetization.</p><p>They are generally optimistic about Douyin's in-store traffic generation business. However, they were not so enthusiastic about the much-discussed \"XinDong Waimai\".</p><p>Internet analyst Tang Xin said she is not optimistic about Douyin's food delivery business. \"Because food delivery is a highly purposeful demand scenario, while Douyin focuses more on exploring users' non-purposeful needs. Even if ByteDance can make up for this difference through algorithms and traffic subsidies, it will still take a long time to plan and promote.\"</p><p>He added, \"The most difficult part of this is not finding demand, but building a merchant ecosystem. This requires a large on-the-ground sales team, which ByteDance currently lacks.\"</p><p>A Meituan Waimai employee reported that they did not sense any particular atmosphere internally.</p><p>In his view, the core competitive advantage of food delivery lies in two aspects: product supply and logistics and distribution.</p><p>When customers order takeout from you, there should always be something to choose from. The number of newly signed merchants remains an important indicator for Meituan Waimai's business development performance. Prior to the anti-monopoly investigation, Meituan demanded exclusive rights from some merchants. Meituan offers both express and dedicated delivery services, and its millions of riders are the result of years of development. For reference, Meituan's expenditure on rider costs alone reached 48.69 billion yuan in 2020.</p><p>Meituan is also wary of Ele.me's counterattack. Therefore, large-scale training is conducted every summer and winter to maintain team vigilance through battle drills. Particular attention is paid to the resources of national restaurant chain brands and regional brands to ensure that they are not lost.</p><p>Based on this, they do not believe that Xindong Waimai will have a huge impact on the industry landscape in the short term.</p><p>The truth is, the several catering executives we met shared a common perception: Douyin's understanding of the catering industry still needs to be deepened.</p><p>XD Waimai is currently in the internal testing phase, and brands such as Heytea and KFC can offer delivery services. Similar to group buying, there is no integration with the merchant's cash register system, the categories of food delivery are limited, and it is still a group buying package. Neither the selection of varieties nor the delivery time can be guaranteed.</p><p>But in any case, no one can ignore Douyin's attack on local life.</p><p>At this time, ByteDance was more like Tencent before 2010, boasting national-level applications, no shortage of traffic or money, and never giving up on new business growth curves. This is also why ByteDance has been making inroads in education, gaming, consumption and other fields in the past two years. Most importantly, it is often the opponent who is threatened.</p><p>In March of this year, on ByteDance's ninth anniversary, Zhang Yiming once said in an internal speech that his competitors were the best blue teams. He reminded the team neither to shy away from competition nor to compete for the sake of competition. If the mindset is unbalanced, some real opportunities will be missed.</p><p>ByteDance is examining itself and comparing itself to others.</p><p>(Xu Yang and Zhang Xuan are pseudonyms in this article)</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.sina.com.cn/tech/csj/2021-08-19/doc-ikqciyzm2460553.shtml\">新芒</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fed0ca34194450e796708c8740dfdf19","relate_stocks":{"03690":"美团-W"},"source_url":"http://finance.sina.com.cn/tech/csj/2021-08-19/doc-ikqciyzm2460553.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125444263","content_text":"发酵一个多月的抖音心动外卖，至今没有落地。\n尚在内测阶段的心动外卖，普通用户找不到服务入口。提供抖音外卖服务的商家也寥若星辰，肯德基和喜茶都是通过自身的小程序处理外卖订单。\n但这不妨碍大家对这件事的猜想。针对字节做外卖的解读和分析，总是最吸引眼球。抖音关于「心动外卖」的话题播放量已达3.8亿次。甚至有博主将其包装为普通人实现财富自由的一个风口。\n或许我们都想得有点多，也夸大了抖音做外卖的影响力。至少此时，将抖音外卖视作搅动市场格局的一股力量，为时尚早。\n外卖只是抖音涉足本地生活服务的一个注脚。相比这个“只闻其声不见其人”的新业务，不如先关注抖音的到店消费。\n从美团内部的反应来看，让他们难受的不是抖音外卖。而是抖音到店业务对其广告收入的蚕食。\n01\n没有打通\n“不清楚，没有听说。”面对「新芒Daybreak」展示的门店抖音团购套餐，4家餐厅的服务员都表示不了解。甚至这个套餐能不能用，他们也不能确定。\n北京朝阳区的一家大型涮肉店，后台收银系统并没有录入抖音的套餐。也就是说消费者购买套餐之后是无法下单的，咨询店长之后，他们干脆推荐我们从美团上购买。\n这不是孤例。一位全国连锁餐饮店创始人告诉「新芒Daybreak」，不论团购还是外卖，抖音和商家的收银系统没有打通，没有实现完整意义上的闭环，团购目前就是用户持优惠券到店核销的体验，整个流程并不是特别顺畅。\n本地生活服务，抖音已经做了不少铺垫。\n去年3月，抖音就曾上线“抖音团购”功能，如今点开抖音位置界面，优惠团购服务已经覆盖餐饮美食、旅游住宿、休闲娱乐三个板块，这也是本地生活的全部内容。\n一年时间过去，抖音在到店业务商家生态的搭建，并不乐观。\n经过我们的测试，一公里范围内接近百家数量的餐饮店，只有13个上线了抖音团购，同等位置和距离下，参与美团团购的商家数量为66家。旅游住宿领域，北京目前仍没有商家入驻，距离最近的一家酒店在河北廊坊市。\n我们了解到，尽管字节有着巨大的流量和品牌影响力，但想参与本地生活的游戏，没有捷径。想想阿里吧，死磕这么多年，不缺流量不缺钱就是拿不下这块阵地。\n一家北京的餐饮店老板徐阳向「新芒Daybreak」透露，两个月前，抖音的地推找上门，于是他们上线了团购套餐。能不能带来新客，他也没把握。徐阳的态度是，“抖音的团购只是挂着，目前也没有精力运营。”\n后来餐馆菜品做了一些调整，抖音那边的地推再也没来，徐阳也没有主动更改抖音上的套餐。结果是，这家餐馆在美团的团购套餐数量远多于抖音。\n这种情况也不是少数。我们对比之后发现，一家餐饮连锁店，美团的团购优惠品类多达19种，抖音则只有3种。\n「新芒Daybreak」联系到的广西一家连锁餐厅的联合创始人更直截了当，他们拒绝参与抖音的团购活动。原因简单，“大众餐饮利润就薄，折扣等做多，就是饮鸩止渴。”\n徐阳透露，美团的团购抽成大约是2%，抖音团购没有抽成。抽成不是关键，团购低于7折就会赔钱。这也是徐阳对抖音团购不上心的一个重要原因。\n距离北京近2000公里的龙岩，张一鸣的老家。当地，人们都知道这位龙岩籍企业家。但这种地域情谊并不能转化为商业上的支持。\n张轩在龙岩开了6年的奶茶店，他告诉「新芒Daybreak」，近两个月来，“每天都有抖音的人上门推广，多的时候一天能来4个人。”但他就是不愿意做抖音团购。\n在张轩看来，团购价格压得太低，基本在5折左右。做团购只能保持不亏，就当打打广告了。而他本来就很忙，不愿意再给自己找麻烦。很多商家也就是挂着，但并不想做，“毕竟商家不是做慈善的。”\n据他介绍，抖音目前的地推主要针对团购，外卖还没有动静，只听说在内测。随后，他补了一句，“这里依然是美团的天下。”龙岩也是王兴的老家。\n02\n威胁美团？\n尽管抖音到店团购推进结果不算大鸣大放，但在美团内部依然笼罩着一种紧张的气氛。一位美团内部人士说，“有种被字节捅了一刀的感觉”。\n抖音涉足本地生活，最直接的结果是，对美团到店业务广告收入的蚕食。\n上述广西的餐饮店，虽然没有参与团购，但一直在抖音做区域种草投放。他们的原则是：“美团和抖音都一样，更多做内容展示的引流，少做折损利润的引流。”具体执行策略是：“品牌种草全城重火力覆盖，店面种草方圆两三公里辐射。”\n结果是，每年差不多固定的投放预算，抖音增加，美团自然就减少。\n这个逻辑是顺其自然的。商家引流推广的需求，从未改变。变化的只是承载形式。\n如果说，大众点评时代是以图文内容为主，短视频兴起，抖音作为最大平台自然也会承载本地生活服务。以及，不论是点评还是抖音，都依赖UGC的内容创作模式。\n抖音大手笔策划系列达人探店活动，鼓励内容创造者去线下店创造POI视频，用户申请成为团购带货达人后，在后台领任务，这些任务即商家的广告投放。拍摄带有地点的打卡视频，即可获得流量支持和佣金分红。\n上述全国连锁餐饮店创始人也认为，相比到家，抖音的到店更顺理成章。“如果能够形成闭环，商家和消费者的体验都会更顺畅一些，未来的流量盘子也会更大。”\n美团内部人士最大的疑问是，针对抖音对到店业务的日渐渗透，高层是否有预案应对。\n自2015年合并点评后，美团这几年都在去点评化。在小红书最先跨界侵入本地生活的时候，点评反应迟钝。抖音大举进攻时，也没有看到点评的动作。甚至点评一度传出裁员的消息。\n问题是，被边缘化的点评实际不少业务的现金流都非常好。比如餐饮、丽人、婚庆等。这些收入都在反哺美团的创新业务，而核心业务外卖至今没有盈利。假如抖音的大举进攻对美团的广告收入产生实质性影响，不是件好事。\n这算不算美团的失误？“我们不应该眼睁睁看着它发生。至少在别人试图捅你一刀之前，你先穿上护身衣吧？”\n03\n抖音有多大决心做外卖？\n到店业务还没做扎实，抖音为何急于展开外卖业务？\n从市场规模上来看，高频需求的外卖是一门好生意。美团2020年全年营收已达1148亿元，其中，餐饮外卖业务强劲，全年交易金额同比增长24.5%，营收达663亿元，约占总营收的58%。\n艾瑞咨询的数据显示，到2025年，国内本地生活服务市场规模将从2020年的19.5万亿元增长至35.3万亿元。其中，生活服务的线上渗透率仅为12.7%。也就是说，这个万级市场的主要竞争地点还是线下。\n这么巨大的市场，字节自然不会放过。本地生活既是抖音内容生态的组成部分，又能增加流量变现的可能性。\n晚点 LatePost报道，去年年底，字节商业化部成立面向本地生活业务的“本地直营业务中心”，约一万名员工被调整参与生活服务、文化旅游和餐饮等行业进行客户挖掘。\n之所以在抖音展开本地生活业务，因为在抖音的三大流量板块——本地流量、关注流量与流量推荐中，本地流量的利用率最少，且与本地生活业务最为契合，因此变现效率会很高。\n不止一位餐饮商家的观点是，抖音之所以涉水本地生活，就是想最大化的流量变现。\n对抖音到店引流业务，他们普遍持乐观心态。但对吵得沸沸扬扬的“心动外卖”则不是那么积极。\n互联网分析师唐欣表示，自己并不看好抖音做外卖。“因为外卖是一个目的性比较强的需求场景，而抖音更多在挖掘用户的非目的性需求。即使字节通过算法和流量补贴，可以弥补这种差异性，也需要较长的时间进行布局推广。”\n他还补充道，“这个事情最难的不是找需求，而是构建商家生态。这需要大量的地推团队，而字节目前不太具备。”\n一位美团外卖员工则反馈，内部没有感知到特别的气氛。\n在他看来，外卖的核心护城河在两个方面：商品供给和物流配送。\n用户来你这里点外卖，总要有东西可选。新签商家数量依然是美团外卖对BD考核的重要指标。在反垄断调查之前，美团对部分商家要求独家权益。物流美团有快送和专送，几百万骑手大军是他们多年建设的结果。一个参照是，仅骑手成本这一项，美团2020年的支出就达486.9亿元。\n美团也在谨防饿了么反攻。所以每年夏季冬季大练兵，以战役演习的方式保持团队警醒。尤其重视全国餐饮连锁品牌和区域品牌资源，保证不丢失。\n基于此，他们并不认为心动外卖会在短时间内对行业格局产生巨大冲击。\n事实是，我们接触的几位餐饮负责人一个共同的感知是，抖音对餐饮行业的理解，还有待更深入。\n心动外卖目前处于内测阶段，喜茶、肯德基等品牌可以实现外送。跟团购的情况类似，没有与商家的收银系统打通，外卖的品类有限，还是团购套餐。不论是种类选择，还是配送时间，都没办法保证。\n但无论如何，没有人能忽略抖音对本地生活的进攻。\n此时的字节更像是2010年前的腾讯，坐拥国民级应用，不缺流量、不缺钱，始终没有放弃新的业务增长曲线。这也是字节近两年在教育、游戏、消费等领域四处出击的原因。最重要的是，受到威胁的往往是对手。\n今年3月，字节成立九周年，张一鸣在内部讲话时曾称竞争对手是最好的蓝军。他提醒团队既不要逃避竞争，也不要为了竞争而竞争，如果心态不平衡，就会错过一些真正的机会。\n字节在审视自身，也在对照他人。\n（文中徐阳、张轩为化名）","news_type":1,"symbols_score_info":{"03690":0.9}},"isVote":1,"tweetType":1,"viewCount":1795,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9091475137,"gmtCreate":1643935605952,"gmtModify":1676533873269,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9091475137","repostId":"1103200225","repostType":4,"isVote":1,"tweetType":1,"viewCount":4336,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896056874,"gmtCreate":1628546958798,"gmtModify":1703507759492,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Hshs","listText":"Hshs","text":"Hshs","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/896056874","repostId":"2158410898","repostType":4,"isVote":1,"tweetType":1,"viewCount":1321,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899222191,"gmtCreate":1628202590613,"gmtModify":1703502902566,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/899222191","repostId":"1160328223","repostType":4,"isVote":1,"tweetType":1,"viewCount":1128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030902315,"gmtCreate":1645592714350,"gmtModify":1676534043747,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Ggggg","listText":"Ggggg","text":"Ggggg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030902315","repostId":"1120506339","repostType":4,"repost":{"id":"1120506339","kind":"news","pubTimestamp":1645537550,"share":"https://ttm.financial/m/news/1120506339?lang=en_US&edition=fundamental","pubTime":"2022-02-22 21:45","market":"hk","language":"zh","title":"Haidilao expects to lose more than 3.8 billion yuan last year. Is there any chance of turning it around this year?","url":"https://stock-news.laohu8.com/highlight/detail?id=1120506339","media":"野马财经","summary":"海底捞将遭遇上市以来首次亏损。2月21日，海底捞发布盈利预警——2021年全年预计亏损38亿元至45亿元。财报显示，2018年至2020年，海底捞的净利润分别为16.46亿元、23.45亿元、3.09","content":"<p><html><head></head><body><a href=\"https://laohu8.com/S/06862\">Haidilao</a>It will suffer its first loss since its listing.</p><p>On February 21, Haidilao issued a profit warning.<b>The company expects to incur a loss of 3.8 billion to 4.5 billion yuan for the full year of 2021.</b>Financial reports show that from 2018 to 2020, Haidilao's net profit was RMB 1.646 billion, RMB 2.345 billion and RMB 309 million respectively, totaling approximately RMB 4.3 billion. In other words, Haidilao, which made a profit of 94.529 million yuan in the first half of 2021,<b>In just six months, it almost lost all the profits from its three years of listing.</b></p><p>Regarding the reasons for the losses, Haidilao stated that<b>In 2021, more than 300 restaurants were closed, and factors such as declining restaurant performance resulted in one-time losses and impairment losses of approximately RMB 3.3 billion to RMB 3.9 billion from the disposal of long-term assets (buildings, equipment, etc.).</b>In addition, Haidilao also mentioned the impact of the pandemic, rapid expansion, and internal management issues.</p><p>Haidilao's profits have plummeted, and the astute capital market's attitude towards the former \"catering legend\" has also cooled down.</p><p>As of the market close on February 22, Haidilao was trading at HK$18.92 per share, with a total market capitalization of HK$105.5 billion (approximately RMB 85.737 billion). In February 2021, Haidilao's stock price reached a historical high of HK$85.75 per share, with its total market capitalization once approaching HK$470 billion (approximately RMB 381.958 billion).<b>In comparison, Haidilao lost nearly 300 billion yuan in just one year.</b></p><p>Haidilao once became a \"phenomenon\" thanks to its high-quality service. Even before its IPO, it was known as the \"aircraft carrier\" of the catering industry with revenue of tens of billions of yuan. Today, Haidilao is not only experiencing a sharp decline in profits and stock price, but is also constantly embroiled in public opinion about price increases, undercutting, and even food safety issues.</p><p>Has Haidilao burst its bubble, or is it about to sink to the bottom of the sea?</p><p><b>Emergency braking closes 1/5 of stores</b></p><p>How fast has Haidilao expanded in recent years? As of 2017, before its IPO, Haidilao had been established for 23 years and had only 273 stores. After its IPO, Haidilao began to accelerate its expansion – adding a net 193 stores in 2018; 308 new stores opened in 2019; Despite the pandemic in 2020, the company continued to expand by 544 stores; Another 299 new companies were added in the first half of 2021.</p><p>Rapid expansion strategies are stimulating the nerves of secondary market investors. Since its listing on September 26, 2018, Haidilao's stock price has risen from an issue price of HK$17.8 per share to a record high of HK$85.75 per share in February 2021, with its total market capitalization once approaching HK$470 billion.</p><p><b>On May 6, 2020, Haidilao founders Zhang Yong and his wife, along with second-in-command Shi Yonghong, placed 70.5 million shares at HK$33.2 per share, cashing out a total of RMB 2.34 billion.</b></p><p>In November 2021, Haidilao suddenly took the initiative to put the brakes on, announcing the gradual closure of about 300 stores that had failed to meet expectations. Some of these stores would take a temporary break and reopen at an opportune time, with the break period not exceeding two years.</p><p>Regarding the reasons for the store closures, Haidilao stated that the failure to meet expectations in the operation of the planned stores was due to the rapid expansion strategy formulated in 2019. Specifically, this includes incorrect location selection for some stores, organizational structure changes that have left managers too tired, insufficient number of excellent managers, excessive reliance on KPI indicators that are linked to profits, and insufficient corporate culture development.</p><p>As of June 30, 2021, Haidilao had 1,597 stores worldwide. Closing 300 stores means that Haidilao's number of stores will decrease by one-fifth.</p><p><img src=\"https://static.tigerbbs.com/ddefb76a367ec0d40497a273ae82b807\" tg-width=\"506\" tg-height=\"380\" referrerpolicy=\"no-referrer\"/></p><p>Image source: Canned goods image gallery</p><p>Behind its desperate struggle for survival, Haidilao is trapped in the dark cloud of \"increasing revenue but not increasing profits\".</p><p>The announcement shows that Haidilao's revenue in 2021 is expected to exceed RMB 40 billion, representing an increase of over 40% compared to approximately RMB 28.6 billion in 2020.</p><p>Revenue hit a record high, but net profit is expected to suffer a loss of 3.8 billion to 4.5 billion yuan. The reason behind this is closely related to the table turnover rate. Table turnover rate refers to the average number of times each table is used in a restaurant within a day. It is a recognized core data in the catering industry, directly related to the restaurant's revenue, and also directly reflects customers' preference for the restaurant.</p><p>In 2018, Haidilao served 160 million customers, with an average table turnover rate of 5.2 times per day, almost setting a record for the highest table turnover rate in the catering industry. However, in recent years, Haidilao's table turnover rate has been declining continuously.<b>In 2019 and 2020, Haidilao's table turnover rate was 4.8 and 3.5 times per day, respectively, but dropped directly to 3 times per day in 2021.</b></p><p>The enthusiasm in the capital market is not directly proportional to the public's reputation.</p><p>According to incomplete statistics, Haidilao trended on social media more than 35 times in 2021, and there were many negative topics, such as \"Haidilao's beef cubes have become vegetarian\" and \"Zhengzhou Haidilao's tripe, which costs 72 yuan for 200 grams, actually only weighs 138 grams\".</p><p>On the evening of November 1, 2021, the topic \"Haidilao tofu pudding fined 20,000 yuan for expiring\" topped the trending search list.</p><p>With increased revenue but difficulty in increasing profits, Haidilao's signature quality has \"shrunk,\" and its declining reputation may affect customer patronage, plunging it into an a vicious circle.</p><p><b>The \"master-apprentice system\" has stalled.</b></p><p>As early as the beginning of 2021, multiple media outlets reported on the \"wave of closures\" of Haidilao stores in Beijing. The main reason is improper site selection.</p><p>According to Caijing.com,<b>An insider revealed, \"In fact, Haidilao signed contracts with more than 600 stores last year (2020), but only more than 300 were actually opened. Haidilao lowered its store opening standards, but now it has discovered a 'slowdown' and has recently suspended some stores that are not optimistic.\"</b></p><p>The insider also stated, \"The distance from Sanlitun to Youtang is only 4.4 kilometers. Within this range, there are nearly six stores, including the SOHO store, the 3.3 store, the Huapu Department Store store, the Ritan store, and the Youtang store currently under renovation. For restaurant brands that serve regular meals, they generally don't tend to open two stores within three kilometers.\"</p><p>Generally speaking, the selection of store locations for a brand is mainly led by development and expansion personnel. At Haidilao, the store manager, or \"master,\" is currently in charge of store location selection.</p><p>The \"master-apprentice system\" has always been a management method that Haidilao is proud of in the industry.</p><p><img src=\"https://static.tigerbbs.com/01da9343a6182c8a27185ded836ac8a1\" tg-width=\"1080\" tg-height=\"776\" referrerpolicy=\"no-referrer\"/></p><p>Image source: Canned goods image gallery</p><p>According to Haidilao's prospectus, in addition to the basic salary, a store manager who is a mentor can also receive financial rewards from the higher of the following two options:</p><p><b>A: 2.8% of its managed restaurant profits;</b></p><p><b>B: Own restaurant profit 0.4% + Number of apprentice restaurants * Apprentice restaurant profit 3.1% + Number of disciple restaurants * Disciple restaurant profit 1.5%</b></p><p>Taking a restaurant with a monthly profit of 1 million as an example, if the restaurant manager only manages his own restaurant well, he can receive a bonus of 28,000 yuan. However, if the store manager brings out two apprentice stores (with a monthly profit of 1 million), then the store manager's profit share from the apprentice stores alone can reach 2*100*3.1% = 62,000.</p><p>This salary structure once created a wealth myth where the highest annual salary of a Haidilao store manager was 6 million yuan.</p><p>It is precisely under the drive of the \"master-apprentice\" management model that the Haidilao \"empire\" with such a large number of stores has emerged. Previously, some market voices believed:<b>\"Haidilao didn't start with service; its secret is a 'pyramid scheme,' a mentor-apprentice system.\"</b></p><p>At the end of 2020, Zhou Zhaocheng, executive director and chief strategy officer of Haidilao, publicly affirmed the benefits of the \"master-apprentice system\" for store location selection.</p><p>“When a master leads his apprentice to expand a store, he will do his best to choose a new store location with the greatest business potential and the highest return. However, if it is only the expansion specialist who makes the decision, there is a high risk of making the wrong location choice because he is not responsible for future operations. The probabilities between the two are very different.”</p><p>In June 2021, at Haidilao's annual shareholders' meeting, Chairman Zhang Yong publicly reflected on the situation.<b>I admit that the decision to expand stores in June 2020 was a mistake. In an announcement released on November 5, 2021, Haidilao once again acknowledged that the phenomenon of \"mistakes in the location selection of some stores\" caused by its rapid expansion strategy was rooted in the addictive \"master-apprentice system\" store opening profit chain.</b></p><p><b>The tuition was worth it.</b></p><p>At the same time as closing stores, Haidilao announced the launch of the \"Woodpecker\" plan, which will continue to monitor stores with poor operating performance, strengthen internal management and assessment mechanisms, and scale back business expansion.<b>Until the company's operating conditions fully improve, the company will scale back the group's business expansion plan in due course. The average table turnover rate will not reach 4 times per day, and in principle, it will not open new branches on a large scale.</b></p><p>It can be seen that Haidilao has realized that expanding against the trend during the economic downturn and the pandemic poses extremely high risks, and its own management model needs to be improved. This time, the tuition fees were not in vain.</p><p>However, what will happen to Haidilao next?</p><p>Food industry analyst Zhu Danpeng believes that, overall, Haidilao's strategy this time can be described as \"cutting off its arms to survive,\" which is a relatively correct approach, and Haidilao does not have much room for expansion in the future.</p><p>Currently, the hot pot market is booming, and premiumization and segmentation have become trends.</p><p>According to the \"China Catering Big Data 2020\" report, with the development of the industry and the increase in residents' disposable income levels, although the number of hot pot restaurants with an average order value of 120 yuan or more accounts for a small proportion, it is growing rapidly. Meanwhile, the number of restaurants with an average order value of 30 yuan or less has experienced negative growth in cities of all tiers.</p><p>Among them, competition among leading hot pot brands is even fiercer.</p><p><a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Its high-end hot pot brand, Coucou, has developed particularly rapidly in recent years, becoming a formidable competitor to Haidilao on its future development path.<b>Taking per capita consumption on Dianping as an example, a search for Coucou Hot Pot in Shanghai reveals a price range of 150-170 yuan, while Haidilao's price range is 100-150 yuan. In terms of average order value, Coucou Hot Pot has surpassed Haidilao's price level.</b></p><p><img src=\"https://static.tigerbbs.com/feaef3a3216232fae7d71ad90cfb1153\" tg-width=\"506\" tg-height=\"379\" referrerpolicy=\"no-referrer\"/></p><p>Image source: Canned goods image gallery</p><p>In terms of service, at the end of 2020, Coucou launched the first \"hot pot + tavern + tea\" new model store in the country, selling hot pot at noon, milk tea in the afternoon, and transforming into a bar in the evening. The \"clubbing\" in hot pot restaurants is directly comparable to Haidilao's \"hair washing\" and \"nail art\" in hot pot restaurants. Haidilao has always been known for its \"good service,\" and Coucou's differentiated service model has found a way to replace \"Haidilao-style service.\"</p><p>At the same time, newcomers to the brand made their debut one after another, taking a share of the market.</p><p>August 2021,<b>Zhou Shixiong Hot Pot has secured hundreds of millions of yuan in Series A funding from Black Ant Capital; Banu Tripe Hot Pot also announced that it will complete a new round of financing of over 500 million yuan, led by CPE Yuanfeng Capital, with follow-on investments from Richu Capital, Gaorong Capital, and Tomato Capital.</b></p><p>However, some analysts point out that Haidilao still has potential growth potential—continuing to expand horizontally around the hot pot scene.</p><p>Currently, Haidilao operates a hot pot ingredient supermarket, a ready-made food, a fast food store, and has also opened a \"milk tea shop\". At the end of last year, Haidilao launched seven products: hot pot bases, dishes, and snacks, with plans to launch new products at least twice a year.</p><p>It is worth noting that as of the end of June 2021, Haidilao still had RMB 3.5 billion in cash and cash equivalents, which will undoubtedly increase the possibility and confidence for Haidilao to expand horizontally.</p><p></body></html></p>","source":"lsy1589532854679","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>Haidilao expects to lose more than 3.8 billion yuan last year. Is there any chance of turning it around this year?</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\">\nHaidilao expects to lose more than 3.8 billion yuan last year. Is there any chance of turning it around this year?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">野马财经</strong><span class=\"h-time small\">2022-02-22 21:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><a href=\"https://laohu8.com/S/06862\">Haidilao</a>It will suffer its first loss since its listing.</p><p>On February 21, Haidilao issued a profit warning.<b>The company expects to incur a loss of 3.8 billion to 4.5 billion yuan for the full year of 2021.</b>Financial reports show that from 2018 to 2020, Haidilao's net profit was RMB 1.646 billion, RMB 2.345 billion and RMB 309 million respectively, totaling approximately RMB 4.3 billion. In other words, Haidilao, which made a profit of 94.529 million yuan in the first half of 2021,<b>In just six months, it almost lost all the profits from its three years of listing.</b></p><p>Regarding the reasons for the losses, Haidilao stated that<b>In 2021, more than 300 restaurants were closed, and factors such as declining restaurant performance resulted in one-time losses and impairment losses of approximately RMB 3.3 billion to RMB 3.9 billion from the disposal of long-term assets (buildings, equipment, etc.).</b>In addition, Haidilao also mentioned the impact of the pandemic, rapid expansion, and internal management issues.</p><p>Haidilao's profits have plummeted, and the astute capital market's attitude towards the former \"catering legend\" has also cooled down.</p><p>As of the market close on February 22, Haidilao was trading at HK$18.92 per share, with a total market capitalization of HK$105.5 billion (approximately RMB 85.737 billion). In February 2021, Haidilao's stock price reached a historical high of HK$85.75 per share, with its total market capitalization once approaching HK$470 billion (approximately RMB 381.958 billion).<b>In comparison, Haidilao lost nearly 300 billion yuan in just one year.</b></p><p>Haidilao once became a \"phenomenon\" thanks to its high-quality service. Even before its IPO, it was known as the \"aircraft carrier\" of the catering industry with revenue of tens of billions of yuan. Today, Haidilao is not only experiencing a sharp decline in profits and stock price, but is also constantly embroiled in public opinion about price increases, undercutting, and even food safety issues.</p><p>Has Haidilao burst its bubble, or is it about to sink to the bottom of the sea?</p><p><b>Emergency braking closes 1/5 of stores</b></p><p>How fast has Haidilao expanded in recent years? As of 2017, before its IPO, Haidilao had been established for 23 years and had only 273 stores. After its IPO, Haidilao began to accelerate its expansion – adding a net 193 stores in 2018; 308 new stores opened in 2019; Despite the pandemic in 2020, the company continued to expand by 544 stores; Another 299 new companies were added in the first half of 2021.</p><p>Rapid expansion strategies are stimulating the nerves of secondary market investors. Since its listing on September 26, 2018, Haidilao's stock price has risen from an issue price of HK$17.8 per share to a record high of HK$85.75 per share in February 2021, with its total market capitalization once approaching HK$470 billion.</p><p><b>On May 6, 2020, Haidilao founders Zhang Yong and his wife, along with second-in-command Shi Yonghong, placed 70.5 million shares at HK$33.2 per share, cashing out a total of RMB 2.34 billion.</b></p><p>In November 2021, Haidilao suddenly took the initiative to put the brakes on, announcing the gradual closure of about 300 stores that had failed to meet expectations. Some of these stores would take a temporary break and reopen at an opportune time, with the break period not exceeding two years.</p><p>Regarding the reasons for the store closures, Haidilao stated that the failure to meet expectations in the operation of the planned stores was due to the rapid expansion strategy formulated in 2019. Specifically, this includes incorrect location selection for some stores, organizational structure changes that have left managers too tired, insufficient number of excellent managers, excessive reliance on KPI indicators that are linked to profits, and insufficient corporate culture development.</p><p>As of June 30, 2021, Haidilao had 1,597 stores worldwide. Closing 300 stores means that Haidilao's number of stores will decrease by one-fifth.</p><p><img src=\"https://static.tigerbbs.com/ddefb76a367ec0d40497a273ae82b807\" tg-width=\"506\" tg-height=\"380\" referrerpolicy=\"no-referrer\"/></p><p>Image source: Canned goods image gallery</p><p>Behind its desperate struggle for survival, Haidilao is trapped in the dark cloud of \"increasing revenue but not increasing profits\".</p><p>The announcement shows that Haidilao's revenue in 2021 is expected to exceed RMB 40 billion, representing an increase of over 40% compared to approximately RMB 28.6 billion in 2020.</p><p>Revenue hit a record high, but net profit is expected to suffer a loss of 3.8 billion to 4.5 billion yuan. The reason behind this is closely related to the table turnover rate. Table turnover rate refers to the average number of times each table is used in a restaurant within a day. It is a recognized core data in the catering industry, directly related to the restaurant's revenue, and also directly reflects customers' preference for the restaurant.</p><p>In 2018, Haidilao served 160 million customers, with an average table turnover rate of 5.2 times per day, almost setting a record for the highest table turnover rate in the catering industry. However, in recent years, Haidilao's table turnover rate has been declining continuously.<b>In 2019 and 2020, Haidilao's table turnover rate was 4.8 and 3.5 times per day, respectively, but dropped directly to 3 times per day in 2021.</b></p><p>The enthusiasm in the capital market is not directly proportional to the public's reputation.</p><p>According to incomplete statistics, Haidilao trended on social media more than 35 times in 2021, and there were many negative topics, such as \"Haidilao's beef cubes have become vegetarian\" and \"Zhengzhou Haidilao's tripe, which costs 72 yuan for 200 grams, actually only weighs 138 grams\".</p><p>On the evening of November 1, 2021, the topic \"Haidilao tofu pudding fined 20,000 yuan for expiring\" topped the trending search list.</p><p>With increased revenue but difficulty in increasing profits, Haidilao's signature quality has \"shrunk,\" and its declining reputation may affect customer patronage, plunging it into an a vicious circle.</p><p><b>The \"master-apprentice system\" has stalled.</b></p><p>As early as the beginning of 2021, multiple media outlets reported on the \"wave of closures\" of Haidilao stores in Beijing. The main reason is improper site selection.</p><p>According to Caijing.com,<b>An insider revealed, \"In fact, Haidilao signed contracts with more than 600 stores last year (2020), but only more than 300 were actually opened. Haidilao lowered its store opening standards, but now it has discovered a 'slowdown' and has recently suspended some stores that are not optimistic.\"</b></p><p>The insider also stated, \"The distance from Sanlitun to Youtang is only 4.4 kilometers. Within this range, there are nearly six stores, including the SOHO store, the 3.3 store, the Huapu Department Store store, the Ritan store, and the Youtang store currently under renovation. For restaurant brands that serve regular meals, they generally don't tend to open two stores within three kilometers.\"</p><p>Generally speaking, the selection of store locations for a brand is mainly led by development and expansion personnel. At Haidilao, the store manager, or \"master,\" is currently in charge of store location selection.</p><p>The \"master-apprentice system\" has always been a management method that Haidilao is proud of in the industry.</p><p><img src=\"https://static.tigerbbs.com/01da9343a6182c8a27185ded836ac8a1\" tg-width=\"1080\" tg-height=\"776\" referrerpolicy=\"no-referrer\"/></p><p>Image source: Canned goods image gallery</p><p>According to Haidilao's prospectus, in addition to the basic salary, a store manager who is a mentor can also receive financial rewards from the higher of the following two options:</p><p><b>A: 2.8% of its managed restaurant profits;</b></p><p><b>B: Own restaurant profit 0.4% + Number of apprentice restaurants * Apprentice restaurant profit 3.1% + Number of disciple restaurants * Disciple restaurant profit 1.5%</b></p><p>Taking a restaurant with a monthly profit of 1 million as an example, if the restaurant manager only manages his own restaurant well, he can receive a bonus of 28,000 yuan. However, if the store manager brings out two apprentice stores (with a monthly profit of 1 million), then the store manager's profit share from the apprentice stores alone can reach 2*100*3.1% = 62,000.</p><p>This salary structure once created a wealth myth where the highest annual salary of a Haidilao store manager was 6 million yuan.</p><p>It is precisely under the drive of the \"master-apprentice\" management model that the Haidilao \"empire\" with such a large number of stores has emerged. Previously, some market voices believed:<b>\"Haidilao didn't start with service; its secret is a 'pyramid scheme,' a mentor-apprentice system.\"</b></p><p>At the end of 2020, Zhou Zhaocheng, executive director and chief strategy officer of Haidilao, publicly affirmed the benefits of the \"master-apprentice system\" for store location selection.</p><p>“When a master leads his apprentice to expand a store, he will do his best to choose a new store location with the greatest business potential and the highest return. However, if it is only the expansion specialist who makes the decision, there is a high risk of making the wrong location choice because he is not responsible for future operations. The probabilities between the two are very different.”</p><p>In June 2021, at Haidilao's annual shareholders' meeting, Chairman Zhang Yong publicly reflected on the situation.<b>I admit that the decision to expand stores in June 2020 was a mistake. In an announcement released on November 5, 2021, Haidilao once again acknowledged that the phenomenon of \"mistakes in the location selection of some stores\" caused by its rapid expansion strategy was rooted in the addictive \"master-apprentice system\" store opening profit chain.</b></p><p><b>The tuition was worth it.</b></p><p>At the same time as closing stores, Haidilao announced the launch of the \"Woodpecker\" plan, which will continue to monitor stores with poor operating performance, strengthen internal management and assessment mechanisms, and scale back business expansion.<b>Until the company's operating conditions fully improve, the company will scale back the group's business expansion plan in due course. The average table turnover rate will not reach 4 times per day, and in principle, it will not open new branches on a large scale.</b></p><p>It can be seen that Haidilao has realized that expanding against the trend during the economic downturn and the pandemic poses extremely high risks, and its own management model needs to be improved. This time, the tuition fees were not in vain.</p><p>However, what will happen to Haidilao next?</p><p>Food industry analyst Zhu Danpeng believes that, overall, Haidilao's strategy this time can be described as \"cutting off its arms to survive,\" which is a relatively correct approach, and Haidilao does not have much room for expansion in the future.</p><p>Currently, the hot pot market is booming, and premiumization and segmentation have become trends.</p><p>According to the \"China Catering Big Data 2020\" report, with the development of the industry and the increase in residents' disposable income levels, although the number of hot pot restaurants with an average order value of 120 yuan or more accounts for a small proportion, it is growing rapidly. Meanwhile, the number of restaurants with an average order value of 30 yuan or less has experienced negative growth in cities of all tiers.</p><p>Among them, competition among leading hot pot brands is even fiercer.</p><p><a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Its high-end hot pot brand, Coucou, has developed particularly rapidly in recent years, becoming a formidable competitor to Haidilao on its future development path.<b>Taking per capita consumption on Dianping as an example, a search for Coucou Hot Pot in Shanghai reveals a price range of 150-170 yuan, while Haidilao's price range is 100-150 yuan. In terms of average order value, Coucou Hot Pot has surpassed Haidilao's price level.</b></p><p><img src=\"https://static.tigerbbs.com/feaef3a3216232fae7d71ad90cfb1153\" tg-width=\"506\" tg-height=\"379\" referrerpolicy=\"no-referrer\"/></p><p>Image source: Canned goods image gallery</p><p>In terms of service, at the end of 2020, Coucou launched the first \"hot pot + tavern + tea\" new model store in the country, selling hot pot at noon, milk tea in the afternoon, and transforming into a bar in the evening. The \"clubbing\" in hot pot restaurants is directly comparable to Haidilao's \"hair washing\" and \"nail art\" in hot pot restaurants. Haidilao has always been known for its \"good service,\" and Coucou's differentiated service model has found a way to replace \"Haidilao-style service.\"</p><p>At the same time, newcomers to the brand made their debut one after another, taking a share of the market.</p><p>August 2021,<b>Zhou Shixiong Hot Pot has secured hundreds of millions of yuan in Series A funding from Black Ant Capital; Banu Tripe Hot Pot also announced that it will complete a new round of financing of over 500 million yuan, led by CPE Yuanfeng Capital, with follow-on investments from Richu Capital, Gaorong Capital, and Tomato Capital.</b></p><p>However, some analysts point out that Haidilao still has potential growth potential—continuing to expand horizontally around the hot pot scene.</p><p>Currently, Haidilao operates a hot pot ingredient supermarket, a ready-made food, a fast food store, and has also opened a \"milk tea shop\". At the end of last year, Haidilao launched seven products: hot pot bases, dishes, and snacks, with plans to launch new products at least twice a year.</p><p>It is worth noting that as of the end of June 2021, Haidilao still had RMB 3.5 billion in cash and cash equivalents, which will undoubtedly increase the possibility and confidence for Haidilao to expand horizontally.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/84HYmFZYuOiBM4wbOe9-Ug\">野马财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/23f2c25e060d113f3768c45cafc16292","relate_stocks":{"BK1583":"高瓴概念","BK1604":"节假日概念","06862":"海底捞","BK1591":"就地过年概念","BK1233":"餐馆","BK1589":"北水核心资产"},"source_url":"https://mp.weixin.qq.com/s/84HYmFZYuOiBM4wbOe9-Ug","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120506339","content_text":"海底捞将遭遇上市以来首次亏损。2月21日，海底捞发布盈利预警——2021年全年预计亏损38亿元至45亿元。财报显示，2018年至2020年，海底捞的净利润分别为16.46亿元、23.45亿元、3.09亿元，合计约43亿元。也就是说，在2021年上半年还盈利9452.9万元的海底捞，仅半年时间就几乎亏光了上市三年的利润。针对亏损原因，海底捞称，2021年关闭了300多家餐厅，以及餐厅业绩下滑等因素，导致的处置长期资产（房屋、设备等）的一次性损失、减值损失等合计约33亿元至39亿元。此外，海底捞还提到了疫情、快速扩张，以及内部管理问题带来的影响。海底捞盈利大幅下跌，敏锐的资本市场对于曾经“餐饮界神话”的态度也与此同凉。截至2月22日收盘，海底捞报18.92港元/股，总市值1055亿港元（约合人民币857.37亿元）。而2021年2月，海底捞股价达到历史高峰85.75港元/股，总市值一度接近4700亿港元（约合人民币3819.58亿元）。对比来看，海底捞一年内就蒸发了将近3000亿元。曾经的海底捞凭借高质量的服务，一度成为“现象级”的存在，更在上市前，就靠着百亿营收，被称为餐饮界的“航母”。如今的海底捞不仅遭遇盈利、股价大幅下滑，还不断陷入涨价、缺斤少两，甚至食品安全的舆论之中。海底捞究竟是撇去了泡沫，还是要跌入海底？紧急刹车关闭1/5门店海底捞近年来扩张速度有多快？截至上市前的2017年，海底捞创立23年，门店总数仅有273家门店。上市后，海底捞开始加速扩张——2018年净增加门店193家；2019新开308家；2020年疫情之下继续扩张544家；2021年上半年再度新增299家。快速扩张策略刺激着二级市场投资人的神经。自2018年9月26日上市以来，海底捞股价从发行价为17.8港元/股，至2021年2月，创下历史新高的85.75港元/股，总市值曾一度接近4700亿港元。海底捞创始人张勇夫妇及二把手施永宏于2020年5月6日以每股33.2港元的价格配售7050万股股份，合计套现23.4亿元。2021年11月，海底捞突然主动刹车，宣布逐步关停300家左右经营未达预期门店，其中部分门店将暂时休整、择机重开，休整周期最长不超过两年。对于关店原因海底捞称，计划关停的门店经营未达预期是2019年制定的快速扩张策略导致。具体包括部分门店选址错误、组织结构改变让管理人员过于疲惫，优秀经理数量不足，过度相信连住利益的KPI指标，以及企业文化建设不足。截至2021年6月30日，海底捞全球门店数达到1597家。关闭300家店铺，意味着海底捞的门店数量将减少1/5。图片来源：罐头图库断臂求生的背后，海底捞困在“增收不增利”的乌云中。公告显示，海底捞2021年收入预计超过人民币400亿元，对比2020年收入约为人民币286亿元，增长超过40%。营收创历史新高，净利润却预计亏损38亿元至45亿元，这背后的原因和翻台率密切相关。翻台率是指一家餐厅一天内每张桌子的平均使用次数，是餐饮行业公认的核心数据，直接关系到餐厅的收入，也直接反映客户对餐厅的喜爱度。2018年，海底捞服务1.6亿人次，平均翻台率5.2次/天，几乎创下了餐饮界的最高翻台率。但近年来，海底捞的翻台率却出现连续下滑。2019年、2020年海底捞的翻台率分别为4.8次/天、3.5次/天，2021年直接降到3次/天。资本市场的热捧，和坊间的口碑并不成正比。据不完全统计，海底捞2021年登上热搜的次数已经超过35次，而且负面话题偏多，比如“海底捞牛肉粒变素了”“郑州海底捞72元200克毛肚实际只有138克”等等。2021年11月1日晚间，话题“海底捞豆花过期被罚款2万”还登上热搜榜首位。增收难增利的情况下，海底捞的招牌品质“缩水”，口碑下降或影响食客光顾，陷入恶性循环。“师徒制”失速早在2021年年初，多家媒体报道了北京海底捞门店的“歇业潮”现象。其主要原因便是选址不当导致。据财经网报道，知情人士透露，“其实海底捞去年（2020年）的店铺签约了600多家，实际只开了300多家，海底捞放低了开店标准，但现在已经发现了‘失速’，最近对部分不乐观的店面叫停。”该知情人士同时表示，“三里屯到悠唐也就4.4公里，这个范围内，有SOHO店、3.3店、华普商厦店、日坛店，以及装修中的悠唐店等近6个店铺。对于走正餐的餐饮品牌而言，一般三公里内都不倾向开两家店。”一般而言，一个品牌的店铺选址主要由开发拓展人员主导。而在海底捞，目前负责店铺选址的则是店长，即“师父”。一直以来，“师徒制”都是海底捞在业界引以为傲的管理手段。图片来源：罐头图库根据海底捞的招股书显示，作为师父的店长的薪酬除了基本薪金外，还可获得以下两种选项中较高者的财务奖励：A：其管理餐厅利润的2.8%；B：自身餐厅利润0.4%+徒弟餐厅数量*徒弟餐厅利润3.1%+徒孙餐厅数量*徒孙餐厅利润1.5%以自身餐厅每月100万利润为例，则店长如果只干好自己的餐厅，则可得到2.8万的奖金；但是如果店长带出了2个徒弟店（每月利润也为100万），则店长仅徒弟店的利润分成就可达到2*100*3.1%=6.2万。在这样的薪酬结构下，曾造就海底捞店长最高年薪600万元的财富神话。也正是在“师徒制”管理模式的驱动下，才有了目前门店数量如此庞大的海底捞“帝国”。此前有市场声音认为：“海底捞不是靠服务起家，它的机密是‘传销’，是师徒制 。”2020年年底，海底捞执行董事、首席战略官周兆呈曾公开肯定了“师徒制”对于门店选址的益处。“当师父带着徒弟拓店时，他一定会尽最大努力选一个商业潜力最大、回报率最高的新店址。但如果只是拓展专员决定，则很有可能因为无需对未来的运营负责，而出现错误选址的风险。这两者之间的概率是很不同的。”2021年6月，在海底捞股东周年大会上，董事长张勇曾公开反思，承认在2020年6月作出门店扩张的决定是错误的。2021年11月5日发布公告中，海底捞再次承认因为快速扩张策略导致的“部分门店选址出现失误”的现象，究其根因，便是令人上头的”师徒制“开店利益链。学费没白交关店同时，海底捞宣布开展“啄木鸟”计划，持续关注经营业绩不佳门店，强化内部管理和考核机制，收缩业务扩张。在公司经营状况全面改善前，公司将适时收缩集团的业务扩张计划，平均翻台率未达到4次/天，原则上不会规模化开设新的分店。可以看出海底捞已经意识到了经济低迷及疫情时期的逆势扩张存在极高风险，同时自身的管理模式有待改善。这一次，学费没有白交。不过，接下来海底捞何去何从？食品产业分析师朱丹蓬认为，综合来看，这次海底捞的策略可谓“断臂求生”，应该是比较正确的做法，而未来海底捞已没有太大的扩张空间。就目前来看，火锅赛道红海翻腾，高端化、细分化已成为趋势。《中国餐饮大数据2020》报告显示，随着行业发展以及居民可支配收入水平提高，当下在全国火锅店中，客单价120元及以上的门店数量虽然占比较小，但增长迅猛，而客单价30元及以下门店数在各线城市中都出现了负增长。其中，头部火锅品牌的竞争则更为激烈。呷哺呷哺旗下高端火锅品牌凑凑近年来发展尤为迅猛，成为海底捞接下来发展道路上的劲敌。以大众点评上的人均消费为例，搜索上海地区的凑凑火锅，价格区间在150-170元，海底捞的价格区间在100-150元。客单价上，凑凑火锅已经超出海底捞价位。图片来源：罐头图库服务上，2020年年底，凑凑推出全国首家“火锅＋酒馆＋茶饮”新模式店，中午卖火锅、下午卖奶茶、晚上摇身一变为酒吧。在火锅店里“蹦迪”直接对标了海底捞的在火锅店里“洗头”、“美甲”。海底捞一直以来以“服务好”闻名，而凑凑差异化的服务形态则为取代“海底捞式服务”找到可能。与此同时，品牌新秀相继亮相，瓜分蛋糕。2021年8月，周师兄火锅获得来自黑蚁资本数亿元的A轮融资；巴奴毛肚火锅也表示，将完成超5亿元新一轮融资，由CPE源峰资本领投，日初资本、高榕资本、番茄资本跟投。不过，也有分析指出，海底捞仍有潜在的增长空间——围绕火锅场景继续横向拓展。目前，海底捞做了火锅食材超市、预制菜、速食品，还开了“奶茶铺”。去年底，海底捞推出锅底、菜品和小吃7款产品，计划一年至少上新两次。值得注意的是，截至2021年6月底，海底捞仍有35亿元现金及现金等价物，这些无疑会增加海底捞横向拓展更多的可能性和底气。","news_type":1,"symbols_score_info":{"06862":0.9}},"isVote":1,"tweetType":1,"viewCount":4609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030055023,"gmtCreate":1645584588382,"gmtModify":1676534042967,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030055023","repostId":"2213963135","repostType":4,"isVote":1,"tweetType":1,"viewCount":5104,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007472620,"gmtCreate":1642993141970,"gmtModify":1676533763265,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Hhhhh","listText":"Hhhhh","text":"Hhhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007472620","repostId":"1155413027","repostType":4,"repost":{"id":"1155413027","kind":"news","pubTimestamp":1642991287,"share":"https://ttm.financial/m/news/1155413027?lang=en_US&edition=fundamental","pubTime":"2022-01-24 10:28","market":"sh","language":"zh","title":"With the Spring Festival approaching, should you hold stocks or cash?","url":"https://stock-news.laohu8.com/highlight/detail?id=1155413027","media":"方正证券","summary":"春节又将临近，每逢此时，市场上总是兴起一股关于是持币过年还是持股过年的讨论。为此本文统计回顾了2010年至2021年春节前后A股市场的表现情况，供投资者参考。A股春节效应显著，节前节后市场上涨概率大，","content":"<p><html><head></head><body>With the Spring Festival approaching, a debate always arises in the market about whether to hold cash or stocks for the New Year. Therefore, this article provides a statistical review of the performance of the A-share market from 2010 to 2021 around the Spring Festival for investors' reference.</p><p><b>The A-share market has a significant Spring Festival effect, with a high probability of market gains before and after the holiday. Furthermore, over the past decade, the A-share market has exhibited significant low-risk, high-return characteristics regarding Spring Festival bonuses.</b>In terms of price increases, the average cumulative return of the wind All A Fund in the five trading days before the Spring Festival over the past 12 years was 1.9%, with a median of 2.6%, and the average cumulative return in the five trading days after the Spring Festival was 1.4%, with a median of 1.8%. Furthermore, the market performance during the Spring Festival in previous years was significantly more stable than that of the whole year. In other words, compared with the overall increase throughout the year, the market red envelopes during the Spring Festival have significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index outperformed the Shanghai Composite Index, while small and mid-cap indices such as the CSI 500 and CSI 1000 outperformed heavyweight indices such as the SSE 50 and CSI 300.</b>In terms of gains, the median cumulative returns of the ChiNext Index in the five trading days before and after the Spring Festival over the past 12 years were 2.4% and 4.1%, respectively, while the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the CSI 2000 Index over the past 12 years in the five trading days before and after the Spring Festival were 2.0% and 4.4%, respectively, while the CSI 300 Index was 1.9% and 0.6%.</p><p><b>Looking at the performance of various industries, the first-level Shenwan industries are generally likely to close higher around the Spring Festival, with sectors such as non-ferrous metals, electronics, and computers performing relatively well.</b>The non-ferrous metals sector saw a median gain of 3.4% in the five trading days before the Spring Festival between 2010 and 2021, the best performance among all sectors. Looking at the five trading days following the Spring Festival, the non-ferrous metals industry remained the best performer in terms of median cumulative increase, at 5.2%. In addition, the electronics and computer industries also performed well overall before and after the holiday.</p><p><b>Judging from the performance of various style indices, the major style indices are also likely to close higher around the Spring Festival. Moreover, high-P/E styles are better than low-P/E styles, high-priced stocks are better than low-priced stocks, and loss-making stocks are better than high-performing stocks.</b>High-P/E stocks saw a median cumulative increase of 2.5% and 3.4% in the five trading days before and after the Spring Festival between 2010 and 2021, respectively, outperforming low-P/E stocks by 1.9% and 0.6%. The median cumulative increase of high-priced stocks in the five trading days before and after the Spring Festival over the past 10 years was 3.3% and 1.6%, respectively, which is better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of loss-making stocks in the five trading days before and after the Spring Festival over the past 10 years was 2.3% and 4.2%, respectively, which is better than the 2.5% and 0.6% of high-performing stocks overall.</p><p>Risk warning: Macroeconomic conditions may fall short of expectations, overseas markets may experience significant fluctuations, and historical experience does not represent the future.</p><p>The text is as follows:</p><p>Holding stocks or cash: A review of market characteristics around the Spring Festival</p><p>With the Spring Festival approaching, a debate always arises in the market about whether to hold cash or stocks for the New Year. Therefore, this article provides a statistical review of the performance of the A-share market around the Spring Festival over the past decade for investors' reference.</p><p>1. The A-share market has a significant Spring Festival effect, and the market is likely to rise before and after the holiday.</p><p>The A-share market has a significant Spring Festival effect, with a relatively high probability of market gains both before and after the holiday. We have summarized the return performance of the five trading days before and after the Spring Festival from 2010 to 2021. Overall, the performance of the A-share market around the Spring Festival was generally good, and the probability of major broad-based indices rising was relatively high. Over the past 12 years, wind All A has seen its cumulative returns increase in both the 5 trading days before and 5 trading days after the holiday in 9 years, with a probability of increase as high as 75%. However, wind All A has only had positive annual cumulative returns in 8 of these 12 years. Therefore, from a probability perspective, the performance of the A-share market does indeed have a significant Spring Festival effect.</p><p><img src=\"https://static.tigerbbs.com/3ebb634e1fdcb47287f6f64ad921dd0b\" tg-width=\"745\" tg-height=\"473\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Judging from the price fluctuations, the Spring Festival bonus in the A-share market over the past decade has been characterized by low risk and high return.</b>In terms of price increases, the average cumulative return of the wind All A Fund in the five trading days before the Spring Festival over the past 12 years was 1.9%, with a median of 2.6%, and the average cumulative return in the five trading days after the Spring Festival was 1.4%, with a median of 1.8%. Furthermore, in terms of volatility, the market performance during the Spring Festival in previous years has been significantly more stable than that of the whole year. In other words, compared with the overall increase throughout the year, the market red envelopes during the Spring Festival have significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index outperformed the Shanghai Composite Index, while small and mid-cap indices such as the CSI 500 and CSI 1000 outperformed heavyweight indices such as the SSE 50 and CSI 300.</b>In terms of gains, the median cumulative returns of the ChiNext Index in the five trading days before and after the Spring Festival over the past 12 years were 2.4% and 4.1%, respectively, while the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the CSI 2000 Index over the past 12 years in the five trading days before and after the Spring Festival were 2.0% and 4.4%, respectively, while the CSI 300 Index was 1.9% and 0.6%.</p><p><img src=\"https://static.tigerbbs.com/582cd2589b619255738cf6d2f570069b\" tg-width=\"772\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>2. Non-ferrous metals, electronics, and computers performed relatively well.</p><p><b>Looking at the performance of various industries, over the past 10 years, the probability of the Shenwan first-level industries closing higher in the five trading days around the Spring Festival has generally been above 50%.</b>Looking at the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, Shenwan Level 1 industries performed well before and after the holiday, with far more increases than decreases. Among them, the pharmaceutical and biological industry has risen in all five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and the probability of rising in the five trading days after the Spring Festival is also as high as 92%. In addition, the probability of the electronics and electrical equipment sectors rising in the five trading days before and after the holiday is also above 80%.</p><p><b>Looking at the absolute value of the price fluctuations in various industries, the non-ferrous metals, electronics, and computer sectors performed relatively well around the Spring Festival, while the financial sector performed relatively poorly.</b>The non-ferrous metals sector saw a median gain of 3.4% in the five trading days before the Spring Festival between 2010 and 2021, the best performance among all sectors. Looking at the five trading days following the Spring Festival, the non-ferrous metals industry remained the best performer in terms of median cumulative increase, at 5.2%. In addition, the electronics and computer industries also performed well overall before and after the holiday, while the financial sector performed relatively poorly in both the five trading days before and after the holiday.</p><p><img src=\"https://static.tigerbbs.com/19bfbbfde65d4117bf61534eeec75506\" tg-width=\"768\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><img src=\"https://static.tigerbbs.com/503e1fbb70dea37f1e719bee7cceac27\" tg-width=\"752\" tg-height=\"482\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>3. High P/E is better than low P/E, high-priced stocks are better than low-priced stocks, and low-profit stocks are better than high-performing stocks.</p><p><b>Judging from the performance of various style indices, the probability of major style indices in the A-share market closing higher cumulatively in the five trading days around the Spring Festival is generally above 60%.</b>Looking at the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed well before and after the holiday, with the number of times it rose far exceeding the number of times it fell. Among them, the probability of the High P/E Style Index rising in the 5 trading days before and after the Spring Festival has been above 80% in the past 12 years.</p><p><b>Looking at the absolute value data of the fluctuations in each style index, around the Spring Festival, high-P/E styles outperformed low-P/E stocks, high-priced stocks outperformed low-priced stocks, and loss-making stocks outperformed high-performing stocks.</b>High-P/E stocks saw a median cumulative increase of 2.5% and 3.4% in the five trading days before and after the Spring Festival between 2010 and 2021, respectively, outperforming low-P/E stocks by 1.9% and 0.6%. The median cumulative increase of high-priced stocks in the five trading days before and after the Spring Festival over the past 10 years was 3.3% and 1.6%, respectively, which is better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of loss-making stocks in the five trading days before and after the Spring Festival over the past 10 years was 2.3% and 4.2%, respectively, which is better than the 2.5% and 0.6% of high-performing stocks overall.</p><p><img src=\"https://static.tigerbbs.com/55520b80f80e1ed42fb553ec3282e634\" tg-width=\"751\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/e5464cc2dab3b0eaba26b6ecc77dc615\" tg-width=\"755\" tg-height=\"475\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>","source":"lsy1583736415415","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>With the Spring Festival approaching, should you hold stocks or cash?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWith the Spring Festival approaching, should you hold stocks or cash?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">方正证券</strong><span class=\"h-time small\">2022-01-24 10:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>With the Spring Festival approaching, a debate always arises in the market about whether to hold cash or stocks for the New Year. Therefore, this article provides a statistical review of the performance of the A-share market from 2010 to 2021 around the Spring Festival for investors' reference.</p><p><b>The A-share market has a significant Spring Festival effect, with a high probability of market gains before and after the holiday. Furthermore, over the past decade, the A-share market has exhibited significant low-risk, high-return characteristics regarding Spring Festival bonuses.</b>In terms of price increases, the average cumulative return of the wind All A Fund in the five trading days before the Spring Festival over the past 12 years was 1.9%, with a median of 2.6%, and the average cumulative return in the five trading days after the Spring Festival was 1.4%, with a median of 1.8%. Furthermore, the market performance during the Spring Festival in previous years was significantly more stable than that of the whole year. In other words, compared with the overall increase throughout the year, the market red envelopes during the Spring Festival have significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index outperformed the Shanghai Composite Index, while small and mid-cap indices such as the CSI 500 and CSI 1000 outperformed heavyweight indices such as the SSE 50 and CSI 300.</b>In terms of gains, the median cumulative returns of the ChiNext Index in the five trading days before and after the Spring Festival over the past 12 years were 2.4% and 4.1%, respectively, while the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the CSI 2000 Index over the past 12 years in the five trading days before and after the Spring Festival were 2.0% and 4.4%, respectively, while the CSI 300 Index was 1.9% and 0.6%.</p><p><b>Looking at the performance of various industries, the first-level Shenwan industries are generally likely to close higher around the Spring Festival, with sectors such as non-ferrous metals, electronics, and computers performing relatively well.</b>The non-ferrous metals sector saw a median gain of 3.4% in the five trading days before the Spring Festival between 2010 and 2021, the best performance among all sectors. Looking at the five trading days following the Spring Festival, the non-ferrous metals industry remained the best performer in terms of median cumulative increase, at 5.2%. In addition, the electronics and computer industries also performed well overall before and after the holiday.</p><p><b>Judging from the performance of various style indices, the major style indices are also likely to close higher around the Spring Festival. Moreover, high-P/E styles are better than low-P/E styles, high-priced stocks are better than low-priced stocks, and loss-making stocks are better than high-performing stocks.</b>High-P/E stocks saw a median cumulative increase of 2.5% and 3.4% in the five trading days before and after the Spring Festival between 2010 and 2021, respectively, outperforming low-P/E stocks by 1.9% and 0.6%. The median cumulative increase of high-priced stocks in the five trading days before and after the Spring Festival over the past 10 years was 3.3% and 1.6%, respectively, which is better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of loss-making stocks in the five trading days before and after the Spring Festival over the past 10 years was 2.3% and 4.2%, respectively, which is better than the 2.5% and 0.6% of high-performing stocks overall.</p><p>Risk warning: Macroeconomic conditions may fall short of expectations, overseas markets may experience significant fluctuations, and historical experience does not represent the future.</p><p>The text is as follows:</p><p>Holding stocks or cash: A review of market characteristics around the Spring Festival</p><p>With the Spring Festival approaching, a debate always arises in the market about whether to hold cash or stocks for the New Year. Therefore, this article provides a statistical review of the performance of the A-share market around the Spring Festival over the past decade for investors' reference.</p><p>1. The A-share market has a significant Spring Festival effect, and the market is likely to rise before and after the holiday.</p><p>The A-share market has a significant Spring Festival effect, with a relatively high probability of market gains both before and after the holiday. We have summarized the return performance of the five trading days before and after the Spring Festival from 2010 to 2021. Overall, the performance of the A-share market around the Spring Festival was generally good, and the probability of major broad-based indices rising was relatively high. Over the past 12 years, wind All A has seen its cumulative returns increase in both the 5 trading days before and 5 trading days after the holiday in 9 years, with a probability of increase as high as 75%. However, wind All A has only had positive annual cumulative returns in 8 of these 12 years. Therefore, from a probability perspective, the performance of the A-share market does indeed have a significant Spring Festival effect.</p><p><img src=\"https://static.tigerbbs.com/3ebb634e1fdcb47287f6f64ad921dd0b\" tg-width=\"745\" tg-height=\"473\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Judging from the price fluctuations, the Spring Festival bonus in the A-share market over the past decade has been characterized by low risk and high return.</b>In terms of price increases, the average cumulative return of the wind All A Fund in the five trading days before the Spring Festival over the past 12 years was 1.9%, with a median of 2.6%, and the average cumulative return in the five trading days after the Spring Festival was 1.4%, with a median of 1.8%. Furthermore, in terms of volatility, the market performance during the Spring Festival in previous years has been significantly more stable than that of the whole year. In other words, compared with the overall increase throughout the year, the market red envelopes during the Spring Festival have significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index outperformed the Shanghai Composite Index, while small and mid-cap indices such as the CSI 500 and CSI 1000 outperformed heavyweight indices such as the SSE 50 and CSI 300.</b>In terms of gains, the median cumulative returns of the ChiNext Index in the five trading days before and after the Spring Festival over the past 12 years were 2.4% and 4.1%, respectively, while the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the CSI 2000 Index over the past 12 years in the five trading days before and after the Spring Festival were 2.0% and 4.4%, respectively, while the CSI 300 Index was 1.9% and 0.6%.</p><p><img src=\"https://static.tigerbbs.com/582cd2589b619255738cf6d2f570069b\" tg-width=\"772\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>2. Non-ferrous metals, electronics, and computers performed relatively well.</p><p><b>Looking at the performance of various industries, over the past 10 years, the probability of the Shenwan first-level industries closing higher in the five trading days around the Spring Festival has generally been above 50%.</b>Looking at the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, Shenwan Level 1 industries performed well before and after the holiday, with far more increases than decreases. Among them, the pharmaceutical and biological industry has risen in all five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and the probability of rising in the five trading days after the Spring Festival is also as high as 92%. In addition, the probability of the electronics and electrical equipment sectors rising in the five trading days before and after the holiday is also above 80%.</p><p><b>Looking at the absolute value of the price fluctuations in various industries, the non-ferrous metals, electronics, and computer sectors performed relatively well around the Spring Festival, while the financial sector performed relatively poorly.</b>The non-ferrous metals sector saw a median gain of 3.4% in the five trading days before the Spring Festival between 2010 and 2021, the best performance among all sectors. Looking at the five trading days following the Spring Festival, the non-ferrous metals industry remained the best performer in terms of median cumulative increase, at 5.2%. In addition, the electronics and computer industries also performed well overall before and after the holiday, while the financial sector performed relatively poorly in both the five trading days before and after the holiday.</p><p><img src=\"https://static.tigerbbs.com/19bfbbfde65d4117bf61534eeec75506\" tg-width=\"768\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><img src=\"https://static.tigerbbs.com/503e1fbb70dea37f1e719bee7cceac27\" tg-width=\"752\" tg-height=\"482\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>3. High P/E is better than low P/E, high-priced stocks are better than low-priced stocks, and low-profit stocks are better than high-performing stocks.</p><p><b>Judging from the performance of various style indices, the probability of major style indices in the A-share market closing higher cumulatively in the five trading days around the Spring Festival is generally above 60%.</b>Looking at the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed well before and after the holiday, with the number of times it rose far exceeding the number of times it fell. Among them, the probability of the High P/E Style Index rising in the 5 trading days before and after the Spring Festival has been above 80% in the past 12 years.</p><p><b>Looking at the absolute value data of the fluctuations in each style index, around the Spring Festival, high-P/E styles outperformed low-P/E stocks, high-priced stocks outperformed low-priced stocks, and loss-making stocks outperformed high-performing stocks.</b>High-P/E stocks saw a median cumulative increase of 2.5% and 3.4% in the five trading days before and after the Spring Festival between 2010 and 2021, respectively, outperforming low-P/E stocks by 1.9% and 0.6%. The median cumulative increase of high-priced stocks in the five trading days before and after the Spring Festival over the past 10 years was 3.3% and 1.6%, respectively, which is better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of loss-making stocks in the five trading days before and after the Spring Festival over the past 10 years was 2.3% and 4.2%, respectively, which is better than the 2.5% and 0.6% of high-performing stocks overall.</p><p><img src=\"https://static.tigerbbs.com/55520b80f80e1ed42fb553ec3282e634\" tg-width=\"751\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/e5464cc2dab3b0eaba26b6ecc77dc615\" tg-width=\"755\" tg-height=\"475\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3650467\">方正证券</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1fc1f5e2fa377c378fa230c10e0849a2","relate_stocks":{"000001.SH":"上证指数"},"source_url":"https://wallstreetcn.com/articles/3650467","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155413027","content_text":"春节又将临近，每逢此时，市场上总是兴起一股关于是持币过年还是持股过年的讨论。为此本文统计回顾了2010年至2021年春节前后A股市场的表现情况，供投资者参考。A股春节效应显著，节前节后市场上涨概率大，且过去十多年A股市场春节红包具有显著的低风险高收益的特征。从上涨幅度来看，过去12年wind全A在春节前5个交易日里的累计收益率均值是1.9%，中位数是2.6%，春节后5个交易日里的累计收益率均值是1.4%，中位数是1.8%。并且历年春节期间的市场表现相比全年明显更为稳定，也就是说与全年整体涨幅相比，春节期间的市场红包具有显著的低风险高收益的特征。对比之下，深证成指、创业板指表现好于上证综指，中证500、中证1000等中小盘股指数好于上证50、沪深300等权重股指数。从上涨幅度来看，过去12年创业板指在春节前/后5个交易日里的累计收益率中位数分别为2.4%和4.1%，上证综指为1.4%和0.9%。国证2000指数过去12年在春节前/后5个交易日里的累计收益率中位数分别为2.0%和4.4%，而沪深300指数为1.9%和0.6%。从各行业表现情况来看，申万各一级行业在春节前后普遍大概率收涨，且有色、电子、计算机等板块表现相对较好。有色金属板块在2010年至2021年间春节前5个交易日涨幅中位数达3.4%，在所有板块中表现最佳。春节后5个交易日来看，累计涨幅中位数上依然是有色行业表现最佳，为5.2%。此外电子、计算机等行业节前节后综合表现同样较好。从各风格指数表现情况来看，各主要风格指数在春节前后同样收涨概率较大，且高市盈率风格好于低市盈率、高价股风格好于低价股、亏损微利股风格好于绩优股。高市盈率股风格在2010年至2021年间春节前/后5个交易日累计涨幅中位数分别为2.5%和3.4%，好于低市盈率股的1.9%和0.6%。高价股风格近10多年春节前/后5个交易日累计涨幅中位数分别为3.3%和1.6%，好于低价股的1.1%和2.4%。亏损股风格近10多年春节前/后5个交易日累计涨幅中位数分别为2.3%和4.2%，整体好于绩优股的2.5%和0.6%。风险提示：宏观经济不及预期、海外市场大幅波动、历史经验不代表未来。正文如下：持股还是持币，春节前后行情特征梳理春节又将临近，每逢此时，市场上总是兴起一股关于是持币过年还是持股过年的讨论。为此本文统计回顾了过去十多年春节前后A股市场的表现情况，供投资者参考。1. A股春节效应显著，节前节后市场上涨概率大A股春节效应显著，节前节后市场上涨概率均比较高。我们对2010年至2021年历年春节节前和节后5个交易日收益率表现情况进行了汇总，总体来看，A股市场在春节前后的表现多数情况下还是不错的，各大宽基指数上涨概率均比较高。在过去的12年中，有9年wind全A在节前5个交易日和节后5个交易日内累计收益均是上涨的，即上涨概率高达75%，而这12年中wind全A仅有8年的年度累计收益为正，因此从概率的角度看，A股市场表现确实存在着较为显著的春节效应。从涨跌幅来看，过去十多年A股市场春节红包具有显著的低风险高收益的特征。从上涨幅度来看，过去12年wind全A在春节前5个交易日里的累计收益率均值是1.9%，中位数是2.6%，春节后5个交易日里的累计收益率均值是1.4%，中位数是1.8%。并且从波动性来看，历年春节期间的市场表现相比全年明显更为稳定，也就是说与全年整体涨幅相比，春节期间的市场红包具有显著的低风险高收益的特征。对比之下，深证成指、创业板指表现好于上证综指，中证500、中证1000等中小盘股指数好于上证50、沪深300等权重股指数。从上涨幅度来看，过去12年创业板指在春节前/后5个交易日里的累计收益率中位数分别为2.4%和4.1%，上证综指为1.4%和0.9%。国证2000指数过去12年在春节前/后5个交易日里的累计收益率中位数分别为2.0%和4.4%，而沪深300指数为1.9%和0.6%。2. 有色、电子、计算机表现相对占优从各行业表现情况来看，近10多年申万各一级行业在春节前后5个交易日里累计收涨概率普遍在50%之上。从2010年至2021年各行业春节前后5个交易日表现来看，多数情况下，申万一级行业在节前节后的表现较好，上涨次数远高于下跌次数。其中，医药生物行业过去12年内在春节节前5个交易日全部是上涨的，上涨概率高达100%，在春节节后5个交易日上涨概率同样高达92%。此外电子和电气设备两个行业节前节后5个交易日上涨概率也均在80%之上。从各行业涨跌幅的绝对值数据来看，春节前后有色、电子、计算机等板块的表现相对较好，而金融板块表现较为靠后。有色金属板块在2010年至2021年间春节前5个交易日涨幅中位数达3.4%，在所有板块中表现最佳。春节后5个交易日来看，累计涨幅中位数上依然是有色行业表现最佳，为5.2%。此外电子、计算机等行业节前节后综合表现同样较好，而金融板块无论是在节前5个交易日还是节后5个交易日表现均较为靠后。3. 高市盈率好于低市盈率、高价股好于低价股、亏损微利股好于绩优股从各风格指数表现情况来看，A股市场主要风格指数在春节前后5个交易日里累计收涨的概率普遍在60%之上。从2010年至2021年各行业春节前后5个交易日表现来看，各风格指数在节前节后的表现较好，上涨次数同样远高于下跌次数。其中，高市盈率风格指数过去12年内在春节节前/后5个交易日内上涨概率均在80%以上。从各风格指数涨跌幅的绝对值数据来看，春节前后高市盈率风格好于低市盈率、高价股风格好于低价股、亏损微利股风格好于绩优股。高市盈率股风格在2010年至2021年间春节前/后5个交易日累计涨幅中位数分别为2.5%和3.4%，好于低市盈率股的1.9%和0.6%。高价股风格近10多年春节前/后5个交易日累计涨幅中位数分别为3.3%和1.6%，好于低价股的1.1%和2.4%。亏损股风格近10多年春节前/后5个交易日累计涨幅中位数分别为2.3%和4.2%，整体好于绩优股的2.5%和0.6%。","news_type":1,"symbols_score_info":{"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":3905,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805322737,"gmtCreate":1627862314929,"gmtModify":1703496611052,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Rivian","listText":"Rivian","text":"Rivian","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/805322737","repostId":"2156816281","repostType":2,"isVote":1,"tweetType":1,"viewCount":1008,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897322419,"gmtCreate":1628892995531,"gmtModify":1676529884839,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Hjj","listText":"Hjj","text":"Hjj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/897322419","repostId":"2159904722","repostType":4,"repost":{"id":"2159904722","kind":"highlight","pubTimestamp":1628869284,"share":"https://ttm.financial/m/news/2159904722?lang=en_US&edition=fundamental","pubTime":"2021-08-13 23:41","market":"us","language":"zh","title":"Traders are betting that the Federal Reserve will not rate hike at all.","url":"https://stock-news.laohu8.com/highlight/detail?id=2159904722","media":"金十数据","summary":"在市场对全球经济复苏的乐观情绪下，美国国债收益率在上升。但欧洲美元期权市场出现了一轮抛售，投资者押注美联储根本不会加息。\n交易员本周一直在忙着抢购欧洲美元的期货看涨期权，这些期权的标的物为2025年3","content":"<p>U.S. Treasury Bond yields are rising amid market optimism about the global economic recovery. However, a sell-off occurred in the European dollar options market, with investors betting that the Federal Reserve would not rate hike at all.</p><p>Traders have been busy this week snapping up Eurodollar futures call options, which are underlying futures contracts expiring in March 2025 and bet on keeping the London Interbank Offered Rate (Libor) below 0.5%.<b>If the Federal Reserve keeps the benchmark interest rate in a low range until then, then these futures and options will bring returns.</b>The futures market currently expects Libor to rise to around 1.47% until the first quarter of 2025.</p><p><img src=\"https://static.tigerbbs.com/e04b584c4aa666c82d1387253d6ac40d\" tg-width=\"692\" tg-height=\"415\" referrerpolicy=\"no-referrer\"></p><p>These bets are designed to hedge tail risks, and such trades have been particularly popular in the past week. According to traders in London and Chicago familiar with the transactions, more than 110,000 such options were purchased during Thursday's trading session. Preliminary data on open positions has risen from approximately 22,000 a week ago to over 153,000.</p><p><b>However, foreign media analysts worry that if the Federal Reserve ultimately keeps interest rates at their current low levels until 2025, it could mean that the global economy has not recovered from the pandemic and lead central banks around the world to continue to maintain ultra-loose policies.</b></p><p>Traders have invested about $6.5 million in Eurodollar hedge funds. Although the underlying futures contract targets the interest rate in March 2025, the futures options are only valid for 7 months and will be extended in March 2022.</p><p>Craig Fey, chief strategist at Edward Jones Investments, said<a href=\"https://laohu8.com/S/YHOO\">Yahoo</a>In an interview with Caijing, it was stated that this week's CPI and PPI data have been released. Although inflation is still at a high level, it has generally moderated.</p><p>He believes that tapering will come soon and there will be some fluctuations, but the large investment environment will not change because the Fed's tapering is due to the strong economy.</p>","source":"xnew_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Traders are betting that the Federal Reserve will not rate hike at all.</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\">\nTraders are betting that the Federal Reserve will not rate hike at all.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">金十数据</strong><span class=\"h-time small\">2021-08-13 23:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>U.S. Treasury Bond yields are rising amid market optimism about the global economic recovery. However, a sell-off occurred in the European dollar options market, with investors betting that the Federal Reserve would not rate hike at all.</p><p>Traders have been busy this week snapping up Eurodollar futures call options, which are underlying futures contracts expiring in March 2025 and bet on keeping the London Interbank Offered Rate (Libor) below 0.5%.<b>If the Federal Reserve keeps the benchmark interest rate in a low range until then, then these futures and options will bring returns.</b>The futures market currently expects Libor to rise to around 1.47% until the first quarter of 2025.</p><p><img src=\"https://static.tigerbbs.com/e04b584c4aa666c82d1387253d6ac40d\" tg-width=\"692\" tg-height=\"415\" referrerpolicy=\"no-referrer\"></p><p>These bets are designed to hedge tail risks, and such trades have been particularly popular in the past week. According to traders in London and Chicago familiar with the transactions, more than 110,000 such options were purchased during Thursday's trading session. Preliminary data on open positions has risen from approximately 22,000 a week ago to over 153,000.</p><p><b>However, foreign media analysts worry that if the Federal Reserve ultimately keeps interest rates at their current low levels until 2025, it could mean that the global economy has not recovered from the pandemic and lead central banks around the world to continue to maintain ultra-loose policies.</b></p><p>Traders have invested about $6.5 million in Eurodollar hedge funds. Although the underlying futures contract targets the interest rate in March 2025, the futures options are only valid for 7 months and will be extended in March 2022.</p><p>Craig Fey, chief strategist at Edward Jones Investments, said<a href=\"https://laohu8.com/S/YHOO\">Yahoo</a>In an interview with Caijing, it was stated that this week's CPI and PPI data have been released. Although inflation is still at a high level, it has generally moderated.</p><p>He believes that tapering will come soon and there will be some fluctuations, but the large investment environment will not change because the Fed's tapering is due to the strong economy.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://xnews.jin10.com/webapp/details.html?id=79955&type=news\">金十数据</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/96819b78df36696eeccbf03ebd7c466d","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","DDM":"2倍做多道指ETF-ProShares","TQQQ":"纳指三倍做多ETF","OEF":"标普100指数ETF-iShares","SSO":"2倍做多标普500ETF-ProShares","QID":"两倍做空纳斯达克指数ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","SH":"做空标普500-Proshares","QQQ":"纳指100ETF","DOG":"道指ETF-ProShares做空",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","PSQ":"做空纳斯达克100指数ETF-ProShares",".SPX":"S&P 500 Index","IVV":"标普500ETF-iShares","SQQQ":"纳指三倍做空ETF","SPXU":"三倍做空标普500ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","SDOW":"三倍做空道指30ETF-ProShares","SPY":"标普500ETF","SDS":"两倍做空标普500 ETF-ProShares","OEX":"标普100","DJX":"1/100道琼斯"},"source_url":"https://xnews.jin10.com/webapp/details.html?id=79955&type=news","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159904722","content_text":"在市场对全球经济复苏的乐观情绪下，美国国债收益率在上升。但欧洲美元期权市场出现了一轮抛售，投资者押注美联储根本不会加息。\n交易员本周一直在忙着抢购欧洲美元的期货看涨期权，这些期权的标的物为2025年3月到期，押注伦敦银行间同业拆借利率（Libor）维持在0.5%以下的期货合约。如果美联储在此之前仍将基准利率维持在较低的区间，那么这些期货期权就会带来回报。目前期货市场预计，直到2025年第一季度，Libor才升至1.47%左右。\n\n这种押注旨在对冲尾部风险，过去的一周这类交易尤其火爆。据熟悉相关交易的伦敦和芝加哥交易员，周四交易时段有超过11万份此类期权被买入。初步公布的未平仓头寸数据已从一周前的约2.2万升至逾15.3万。\n但外媒分析师担心，如果美联储最终将利率维持在目前的低水平直至2025年，这可能意味着全球经济没有从疫情中复苏，并导致各国央行继续维持超宽松政策。\n交易员们已经为欧洲美元对冲基金投入了约650万美元。虽然基础期货合约是以2025年3月的利率为目标，但期货期权的有效期仅为7个月，2022年3月进行展期。\n爱德华琼斯投资的首席策略师克雷格·费在雅虎财经的访谈上表示，本周的CPI和PPI数据都已经公布了，虽然通胀还是处于高水平，但整体已经趋于温和了。\n他认为，缩减很快会来，会有一些波动，但大投资环境不会变，因为美联储缩债是因为经济强劲","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"NQmain":0.9,"QQQ":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"ESmain":0.9,".IXIC":0.9,"TQQQ":0.9,"SQQQ":0.9,"SH":0.9,"UDOW":0.9,"SPXU":0.9,"MNQmain":0.9,"SSO":0.9,".SPX":0.9,"DXD":0.9,"DDM":0.9,"PSQ":0.9,"SPY":0.9,"SDS":0.9,"IVV":0.9,".DJI":0.9,"DJX":0.9,"DOG":0.9,"OEX":0.9,"QLD":0.9,"UPRO":0.9}},"isVote":1,"tweetType":1,"viewCount":1218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886539728,"gmtCreate":1631603333564,"gmtModify":1676530587348,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886539728","repostId":"1159330352","repostType":4,"isVote":1,"tweetType":1,"viewCount":4794,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886595831,"gmtCreate":1631603031323,"gmtModify":1676530587162,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"title":"","htmlText":"hh","listText":"hh","text":"hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886595831","repostId":"1181453869","repostType":4,"repost":{"id":"1181453869","kind":"news","pubTimestamp":1631602814,"share":"https://ttm.financial/m/news/1181453869?lang=en_US&edition=fundamental","pubTime":"2021-09-14 15:00","market":"hk","language":"zh","title":"Can you understand Pop Mart, a theme park?","url":"https://stock-news.laohu8.com/highlight/detail?id=1181453869","media":"新零售商业评论","summary":"自2016年上海迪士尼开放后，国内便刮起了一股主题乐园建设风，欢乐谷、万达乐园、华强方特、长隆……个个都要和迪士尼比划比划。\n如今五年已过，上海迪士尼仍然人头攒动。北京环球影城即将热闹开幕，万达乐园易","content":"<p>Since 2016, Shanghai<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the park opened, a wave of theme park construction swept across China, with Happy Valley, Wanda Park, Fantawild Holdings, Chimelong, and others all vying to compete with Disney.</p><p>Five years later, Shanghai Disneyland is still bustling with people. Universal Studios Beijing is about to open with great fanfare, Wanda Park is changing hands with Sunac, and Legoland...<a href=\"https://laohu8.com/S/SNE\">Sony</a>Many more theme parks, including amusement parks, are eyeing the Chinese market covetously... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Pop Mart</a>It also joined the fray, establishing a wholly-owned subsidiary, Beijing Pop Mart Amusement Park Management Co., Ltd., to continue expanding its IP footprint.</p><p>However, it's clear that only the IPs in the blind box won't work. We helped Pop Mart sort out what else they needed to prepare to run a theme park.</p><p><b>What exactly does it take to run a theme park?</b></p><p><b>A piece of land</b></p><p>To build a theme park, you must first have a piece of land.</p><p>Many domestic amusement park operators, such as OCT Group, Sunac, and previously Wanda, are real estate developers, giving them a natural advantage in land planning. Therefore, Happy Valley, Sunac Park, and others all follow the \"tourism + real estate\" route.</p><p>In order to successfully acquire land, both Shanghai Disneyland and Universal Studios Beijing chose to cooperate with local governments and real estate developers. In addition to a more Chinese-Western integrated operating model, the operating strategy remains \"tourism + real estate\".</p><p>In terms of specific location selection, Shanghai Disneyland and Universal Studios Beijing are currently located in strong areas with superior geographical and transportation advantages in their respective cities (Pudong New Area and Tongzhou). Later comers, such as Legoland, will find it difficult to obtain better land and can only settle in second-priority areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Fantawild Holdings, Sunac, Songcheng, Chimelong, and other theme parks abandoned the relatively competitive first- and second-tier cities from the very beginning, instead choosing to leverage their strengths in their own advantageous regions.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamlike carousels, huge castles, realistic 4D technology... these have all become \"standard features\" of theme parks, and these entertainment facilities and corresponding visual presentation technologies are constantly being updated and iterated.</p><p>At Universal Studios Beijing, you can clearly feel the collision of new and old technologies.</p><p>A Bilibili content creator who went to check in said that the Minions experience was much higher than Harry Potter's.</p><p>It is reported that the Minions section uses the latest 4D rendering technology, with high-definition images. However, \"Harry Potter's Forbidden Journey\" still uses the same presentation technology as the first Harry Potter theme park at Universal Studios Orlando in 2007, resulting in very blurry images.</p><p>In terms of entertainment facilities and presentation technology, Fantawild can be considered one of the domestic companies with the strongest influence. Benefiting from starting by selling specialty film equipment, the founder of Fantawild once stated in the media: \"We have all of Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This was an important opportunity that prompted Fantawild to gradually transform from indoor amusement facilities to outdoor theme parks, and also made up for its relative disadvantage in real estate—after all, \"fun\" is the key factor for theme parks to attract tourists.</p><p>It is understood that Fantawild Holdings opens theme parks mainly through cooperative investment and construction with various investors. Fantawild Holdings provides special equipment and installation services, special effects engineering construction services or engineering management services.</p><p>Operators of theme parks such as OCT, Sunac, and Chimelong, which already possess real estate operation capabilities, can only choose to introduce equipment and technology through third-party cooperation.</p><p><b>Mature IP and operational capabilities</b></p><p>This is the top priority of a theme park.</p><p>The IPs owned by Disney and Universal Studios have mostly formed some kind of cultural symbol and have had a profound impact on a global scale.</p><p>For example, Harry Potter fans, Star Wars fans, and Lord of the Rings fans all have a mature internal slang system (such as spells and elf language) and take pride in showcasing their unique fan characteristics, which gives the corresponding IP merchandise more room for development.</p><p>What fan goes to Universal Studios' Harry Potter Forbidden Tour without buying a wand and drinking a glass of butterbeer? Which fan would be willing to leave empty-handed when they see a Stormtrooper helmet while shopping at Disney Mall?</p><p>Moreover, most of these IPs have been accumulated for decades, constantly introducing new stories to cater to the tastes of new and old fans, and have had a huge influence on several generations. This influence has in turn given rise to the strong spending power of tourists visiting theme parks.</p><p>But that's not enough. The soul of a theme park is to bring these IPs to life within the park, bringing visitors a realistic and immersive experience.</p><p>Disney has always been known for its dreaminess, because it is a fairytale kingdom where all the fairytale characters are vivid, greet and interact with visitors, and tell some narrations that fit the \"characters\". Stepping into the park, you will feel genuinely happy. This kind of infection is something that many theme parks in China have never had before.</p><p>Universal Studios is no different. Some netizens said that when they come to the Harry Potter Forbidden Journey and want to find a power bank, the staff will tell them, \"That's for Muggles, we don't have it here.\"</p><p>Waving the sensor wand can trigger scene changes, and the myrtle crying in the toilet... these are all important designs that enhance the experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>The ability to present these IPs as authentically as possible is thanks to the \"Chinese main investment + American main operation\" model of Shanghai Disneyland and Universal Studios Beijing.</p><p>Shanghai Disneyland is jointly established by Shendi Group and Disney three companies, two of which are the owner companies and the third is the management company.</p><p>Just like the hotel management model, the management company established by the two parties is entrusted by the owner company to be responsible for the project's creativity, design, development, and daily operation and management. This is also the first time Disney has invested in an overseas park.</p><p>Universal Studios Beijing also adopted this model, jointly developed by Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (hereinafter referred to as \"Shouhuan Investment\") and Universal Theme Company and Resort (hereinafter referred to as \"Universal Theme<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>NBCUniversal's business segments are joint ventures, with equity stakes of 70% and 30%, respectively.</p><p>The advantage of doing this is that, as the holder of the IP, the US has a better understanding of the true value of the IP, thus being able to maximize that value.</p><p>Back in China, theme parks find themselves somewhat like a skilled cook without rice in terms of IP operation.</p><p>OCT Group and Sunac basically adopt the approach of collaborating with mature domestic IPs, which is more like attaching the IP to their own amusement facilities or staff to attract the audience of a certain IP to visit.</p><p>For example, Nanjing Happy Valley, which opened last year, is linked to the Little Yellow Duck IP. In Nanjing, where \"no duck can swim out,\" this IP is certainly very popular, and its positioning can be considered accurate.</p><p><img src=\"https://static.tigerbbs.com/4206f3e0889dc0dec204f2836239501e\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>However, even with your own IP, creating an outstanding immersive experience is still not easy, since the experience is a feeling that is both personalized and subtle.</p><p>Located on the shore of Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>The film world is dominated by several Huayi Brothers film IPs, such as \"If You Are the One,\" \"Detective Dee: The Heavenly Empire,\" and \"Tai Chi.\" However, in terms of IP operation, many projects have real-life scenes but no interaction, which neither provides consumers with a truly immersive experience nor increases user stickiness. All that remains are monotonous photo opportunities, and ultimately they are deserted.</p><p>Fantawild has a certain degree of uniqueness and originality in its self-created IPs and theme park operations, and \"<b>Tourism + Real Estate</b>Different models, Fantawild's strategy is \"<b>Culture + technology</b>\"Follow the path of prioritizing content.\"</p><p>But to catch up with Disney is destined to be a very difficult path.</p><p>Over the past decade, Fantawild has created more than 30 of its own IPs, with only \"Boonie Bears\" truly becoming a household name. However, this eight-year-old IP has not added much to Fantawild Holdings' theme parks.</p><p>The reason for this is that the main audience for \"Boonie Bears\" is children, but the target consumer group for theme parks is young people aged 20 to 30. An aging IP, a misaligned target audience, and a decreased appeal naturally make theme parks less likely to monetize.</p><p>Fantawild hoped to create an IP targeting a higher age group, so it took five years to launch the fantasy animated film \"City of Terracotta Warriors\".</p><p>The film, released this summer, was a box office hit. While the special effects were good, the plot and character development were terrible. The setting, which included traditional Chinese elements such as the Terracotta Army and the Classic of Mountains and Seas, was too chaotic, and it also \"borrowed\" many blockbuster elements from Pixar and Disney animated films...</p><p>Children may not understand, but in front of knowledgeable adult consumers, the self-proclaimed originality of the producers of \"City of Terracotta Warriors\" is like a joke.</p><p><b>The blessings of the theme park are yet to come.</b></p><p>Theme parks operate on a capital-intensive model, and the remaining theme parks that are still in operation today are the products of nearly a decade of natural selection.</p><p>According to statistics, in the ten years since Shanghai Disneyland announced its construction, 80% of its theme parks have gone bankrupt, such as the famous Oriental Park, \"Tiangong Tribe\", and Orange Isle Beach Park.</p><p>According to previous reports, around 2016, about 300 domestic theme parks invested more than 50 million yuan, 70% were operating at a loss, 20% were breaking even, and only 10% were profitable, with about 150 billion yuan tied up in theme park investments.</p><p>Today's theme parks have gradually shed their wild growth and begun to move towards a development path of scientific planning and IP operation, and their operations are on the right track.</p><p>According to its financial report for the first half of this year, OCT's tourism business achieved revenue of RMB 18.922 billion and gross profit of RMB 4.685 billion, representing year-on-year increases of 89.93% and 24.98%, respectively. The company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas, and 1 tourist performance received a total of 28.482 million visitors, recovering to 160% of the same period in 2019.</p><p>Sunac's cultural tourism sector is also growing rapidly, with operating revenue of 2.61 billion yuan in the first half of this year, a year-on-year increase of 166%; Passenger traffic reached 72.01 million, an increase of 103% year-on-year.</p><p>Despite its own challenges, Fantawild Holdings' theme park operating revenue reached 1.789 billion yuan in the first half of this year, a year-on-year increase of 37.37%. In addition, in the first half of 2021, visitor numbers at Fantawild theme parks had recovered to nearly 90% of the same period in 2019.</p><p>These achievements are also thanks to consumers' \"retaliatory\" travel and consumption after the pandemic. In addition, consumers' consumption mindset has also changed somewhat—whether for sightseeing, shopping, or dining, they are more pursuing novel and fun offline experiences, which presents an excellent opportunity for theme parks.</p><p>Therefore,<b>Continuously bringing novelty to consumers has become extremely important. Differentiated positioning, equipment updates and iterations, technological upgrades... these have all become eternal topics and key areas of investment for theme park operators.</b></p><p>Nowadays, newcomers who want to enter the theme park market face more and more problems.</p><p>Take Pop Mart as an example. Its brand is popular with many trendy consumers in first- and second-tier cities, so the site selection of the park will inevitably be limited to this range, and the cost will inevitably increase significantly.</p><p>In terms of park facilities and technology reserves, Pop Mart can likely only adopt a supplier cooperation system, rather than independent research and development. Even if it does, it cannot compare with its predecessors who have accumulated many years of experience.</p><p>In terms of the operation of its own IPs, most of Pop Mart's IPs are in the early stages of development - that is, they only have a simple IP image with no story or connotation behind it. Disney and Universal Studios, which have multiple classic IPs in their hands, are not on the same level at all, and are not even as universal as Fantawild's \"Boonie Bears\".</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>Companies like Nintendo and Lego, which possess a massive amount of mature IPs, unique gameplay, and culture, are also eyeing this track covetously...</p><p>Successfully operating a theme park is quite difficult!</p>","source":"lsy1574404730537","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>Can you understand Pop Mart, a theme park?</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\">\nCan you understand Pop Mart, a theme park?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新零售商业评论</strong><span class=\"h-time small\">2021-09-14 15:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Since 2016, Shanghai<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the park opened, a wave of theme park construction swept across China, with Happy Valley, Wanda Park, Fantawild Holdings, Chimelong, and others all vying to compete with Disney.</p><p>Five years later, Shanghai Disneyland is still bustling with people. Universal Studios Beijing is about to open with great fanfare, Wanda Park is changing hands with Sunac, and Legoland...<a href=\"https://laohu8.com/S/SNE\">Sony</a>Many more theme parks, including amusement parks, are eyeing the Chinese market covetously... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Pop Mart</a>It also joined the fray, establishing a wholly-owned subsidiary, Beijing Pop Mart Amusement Park Management Co., Ltd., to continue expanding its IP footprint.</p><p>However, it's clear that only the IPs in the blind box won't work. We helped Pop Mart sort out what else they needed to prepare to run a theme park.</p><p><b>What exactly does it take to run a theme park?</b></p><p><b>A piece of land</b></p><p>To build a theme park, you must first have a piece of land.</p><p>Many domestic amusement park operators, such as OCT Group, Sunac, and previously Wanda, are real estate developers, giving them a natural advantage in land planning. Therefore, Happy Valley, Sunac Park, and others all follow the \"tourism + real estate\" route.</p><p>In order to successfully acquire land, both Shanghai Disneyland and Universal Studios Beijing chose to cooperate with local governments and real estate developers. In addition to a more Chinese-Western integrated operating model, the operating strategy remains \"tourism + real estate\".</p><p>In terms of specific location selection, Shanghai Disneyland and Universal Studios Beijing are currently located in strong areas with superior geographical and transportation advantages in their respective cities (Pudong New Area and Tongzhou). Later comers, such as Legoland, will find it difficult to obtain better land and can only settle in second-priority areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Fantawild Holdings, Sunac, Songcheng, Chimelong, and other theme parks abandoned the relatively competitive first- and second-tier cities from the very beginning, instead choosing to leverage their strengths in their own advantageous regions.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamlike carousels, huge castles, realistic 4D technology... these have all become \"standard features\" of theme parks, and these entertainment facilities and corresponding visual presentation technologies are constantly being updated and iterated.</p><p>At Universal Studios Beijing, you can clearly feel the collision of new and old technologies.</p><p>A Bilibili content creator who went to check in said that the Minions experience was much higher than Harry Potter's.</p><p>It is reported that the Minions section uses the latest 4D rendering technology, with high-definition images. However, \"Harry Potter's Forbidden Journey\" still uses the same presentation technology as the first Harry Potter theme park at Universal Studios Orlando in 2007, resulting in very blurry images.</p><p>In terms of entertainment facilities and presentation technology, Fantawild can be considered one of the domestic companies with the strongest influence. Benefiting from starting by selling specialty film equipment, the founder of Fantawild once stated in the media: \"We have all of Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This was an important opportunity that prompted Fantawild to gradually transform from indoor amusement facilities to outdoor theme parks, and also made up for its relative disadvantage in real estate—after all, \"fun\" is the key factor for theme parks to attract tourists.</p><p>It is understood that Fantawild Holdings opens theme parks mainly through cooperative investment and construction with various investors. Fantawild Holdings provides special equipment and installation services, special effects engineering construction services or engineering management services.</p><p>Operators of theme parks such as OCT, Sunac, and Chimelong, which already possess real estate operation capabilities, can only choose to introduce equipment and technology through third-party cooperation.</p><p><b>Mature IP and operational capabilities</b></p><p>This is the top priority of a theme park.</p><p>The IPs owned by Disney and Universal Studios have mostly formed some kind of cultural symbol and have had a profound impact on a global scale.</p><p>For example, Harry Potter fans, Star Wars fans, and Lord of the Rings fans all have a mature internal slang system (such as spells and elf language) and take pride in showcasing their unique fan characteristics, which gives the corresponding IP merchandise more room for development.</p><p>What fan goes to Universal Studios' Harry Potter Forbidden Tour without buying a wand and drinking a glass of butterbeer? Which fan would be willing to leave empty-handed when they see a Stormtrooper helmet while shopping at Disney Mall?</p><p>Moreover, most of these IPs have been accumulated for decades, constantly introducing new stories to cater to the tastes of new and old fans, and have had a huge influence on several generations. This influence has in turn given rise to the strong spending power of tourists visiting theme parks.</p><p>But that's not enough. The soul of a theme park is to bring these IPs to life within the park, bringing visitors a realistic and immersive experience.</p><p>Disney has always been known for its dreaminess, because it is a fairytale kingdom where all the fairytale characters are vivid, greet and interact with visitors, and tell some narrations that fit the \"characters\". Stepping into the park, you will feel genuinely happy. This kind of infection is something that many theme parks in China have never had before.</p><p>Universal Studios is no different. Some netizens said that when they come to the Harry Potter Forbidden Journey and want to find a power bank, the staff will tell them, \"That's for Muggles, we don't have it here.\"</p><p>Waving the sensor wand can trigger scene changes, and the myrtle crying in the toilet... these are all important designs that enhance the experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>The ability to present these IPs as authentically as possible is thanks to the \"Chinese main investment + American main operation\" model of Shanghai Disneyland and Universal Studios Beijing.</p><p>Shanghai Disneyland is jointly established by Shendi Group and Disney three companies, two of which are the owner companies and the third is the management company.</p><p>Just like the hotel management model, the management company established by the two parties is entrusted by the owner company to be responsible for the project's creativity, design, development, and daily operation and management. This is also the first time Disney has invested in an overseas park.</p><p>Universal Studios Beijing also adopted this model, jointly developed by Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (hereinafter referred to as \"Shouhuan Investment\") and Universal Theme Company and Resort (hereinafter referred to as \"Universal Theme<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>NBCUniversal's business segments are joint ventures, with equity stakes of 70% and 30%, respectively.</p><p>The advantage of doing this is that, as the holder of the IP, the US has a better understanding of the true value of the IP, thus being able to maximize that value.</p><p>Back in China, theme parks find themselves somewhat like a skilled cook without rice in terms of IP operation.</p><p>OCT Group and Sunac basically adopt the approach of collaborating with mature domestic IPs, which is more like attaching the IP to their own amusement facilities or staff to attract the audience of a certain IP to visit.</p><p>For example, Nanjing Happy Valley, which opened last year, is linked to the Little Yellow Duck IP. In Nanjing, where \"no duck can swim out,\" this IP is certainly very popular, and its positioning can be considered accurate.</p><p><img src=\"https://static.tigerbbs.com/4206f3e0889dc0dec204f2836239501e\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>However, even with your own IP, creating an outstanding immersive experience is still not easy, since the experience is a feeling that is both personalized and subtle.</p><p>Located on the shore of Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>The film world is dominated by several Huayi Brothers film IPs, such as \"If You Are the One,\" \"Detective Dee: The Heavenly Empire,\" and \"Tai Chi.\" However, in terms of IP operation, many projects have real-life scenes but no interaction, which neither provides consumers with a truly immersive experience nor increases user stickiness. All that remains are monotonous photo opportunities, and ultimately they are deserted.</p><p>Fantawild has a certain degree of uniqueness and originality in its self-created IPs and theme park operations, and \"<b>Tourism + Real Estate</b>Different models, Fantawild's strategy is \"<b>Culture + technology</b>\"Follow the path of prioritizing content.\"</p><p>But to catch up with Disney is destined to be a very difficult path.</p><p>Over the past decade, Fantawild has created more than 30 of its own IPs, with only \"Boonie Bears\" truly becoming a household name. However, this eight-year-old IP has not added much to Fantawild Holdings' theme parks.</p><p>The reason for this is that the main audience for \"Boonie Bears\" is children, but the target consumer group for theme parks is young people aged 20 to 30. An aging IP, a misaligned target audience, and a decreased appeal naturally make theme parks less likely to monetize.</p><p>Fantawild hoped to create an IP targeting a higher age group, so it took five years to launch the fantasy animated film \"City of Terracotta Warriors\".</p><p>The film, released this summer, was a box office hit. While the special effects were good, the plot and character development were terrible. The setting, which included traditional Chinese elements such as the Terracotta Army and the Classic of Mountains and Seas, was too chaotic, and it also \"borrowed\" many blockbuster elements from Pixar and Disney animated films...</p><p>Children may not understand, but in front of knowledgeable adult consumers, the self-proclaimed originality of the producers of \"City of Terracotta Warriors\" is like a joke.</p><p><b>The blessings of the theme park are yet to come.</b></p><p>Theme parks operate on a capital-intensive model, and the remaining theme parks that are still in operation today are the products of nearly a decade of natural selection.</p><p>According to statistics, in the ten years since Shanghai Disneyland announced its construction, 80% of its theme parks have gone bankrupt, such as the famous Oriental Park, \"Tiangong Tribe\", and Orange Isle Beach Park.</p><p>According to previous reports, around 2016, about 300 domestic theme parks invested more than 50 million yuan, 70% were operating at a loss, 20% were breaking even, and only 10% were profitable, with about 150 billion yuan tied up in theme park investments.</p><p>Today's theme parks have gradually shed their wild growth and begun to move towards a development path of scientific planning and IP operation, and their operations are on the right track.</p><p>According to its financial report for the first half of this year, OCT's tourism business achieved revenue of RMB 18.922 billion and gross profit of RMB 4.685 billion, representing year-on-year increases of 89.93% and 24.98%, respectively. The company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas, and 1 tourist performance received a total of 28.482 million visitors, recovering to 160% of the same period in 2019.</p><p>Sunac's cultural tourism sector is also growing rapidly, with operating revenue of 2.61 billion yuan in the first half of this year, a year-on-year increase of 166%; Passenger traffic reached 72.01 million, an increase of 103% year-on-year.</p><p>Despite its own challenges, Fantawild Holdings' theme park operating revenue reached 1.789 billion yuan in the first half of this year, a year-on-year increase of 37.37%. In addition, in the first half of 2021, visitor numbers at Fantawild theme parks had recovered to nearly 90% of the same period in 2019.</p><p>These achievements are also thanks to consumers' \"retaliatory\" travel and consumption after the pandemic. In addition, consumers' consumption mindset has also changed somewhat—whether for sightseeing, shopping, or dining, they are more pursuing novel and fun offline experiences, which presents an excellent opportunity for theme parks.</p><p>Therefore,<b>Continuously bringing novelty to consumers has become extremely important. Differentiated positioning, equipment updates and iterations, technological upgrades... these have all become eternal topics and key areas of investment for theme park operators.</b></p><p>Nowadays, newcomers who want to enter the theme park market face more and more problems.</p><p>Take Pop Mart as an example. Its brand is popular with many trendy consumers in first- and second-tier cities, so the site selection of the park will inevitably be limited to this range, and the cost will inevitably increase significantly.</p><p>In terms of park facilities and technology reserves, Pop Mart can likely only adopt a supplier cooperation system, rather than independent research and development. Even if it does, it cannot compare with its predecessors who have accumulated many years of experience.</p><p>In terms of the operation of its own IPs, most of Pop Mart's IPs are in the early stages of development - that is, they only have a simple IP image with no story or connotation behind it. Disney and Universal Studios, which have multiple classic IPs in their hands, are not on the same level at all, and are not even as universal as Fantawild's \"Boonie Bears\".</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>Companies like Nintendo and Lego, which possess a massive amount of mature IPs, unique gameplay, and culture, are also eyeing this track covetously...</p><p>Successfully operating a theme park is quite difficult!</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/53bP0asYmXbrZnjajwdTNQ\">新零售商业评论</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/813c01a66ea8b058bb0f8a728d2c75e2","relate_stocks":{"09992":"泡泡玛特"},"source_url":"https://mp.weixin.qq.com/s/53bP0asYmXbrZnjajwdTNQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181453869","content_text":"自2016年上海迪士尼开放后，国内便刮起了一股主题乐园建设风，欢乐谷、万达乐园、华强方特、长隆……个个都要和迪士尼比划比划。\n如今五年已过，上海迪士尼仍然人头攒动。北京环球影城即将热闹开幕，万达乐园易手融创，乐高乐园、索尼乐园等更多主题乐园正对中国市场虎视眈眈……中国主题乐园的发展迈入了新的篇章。\n前不久，泡泡玛特也加入战局，成立全资子公司北京泡泡玛特乐园管理有限公司，要将其IP版图继续扩张。\n然而，只有盲盒里的那些IP显然不行。我们帮泡泡玛特捋了捋，要经营一座主题乐园，他们还需要准备些什么。\n 经营一座主题乐园到底需要什么？\n一块地\n要建立一座主题乐园，首先必须要有一块地。\n国内许多游乐园运营方，如华侨城、融创以及此前的万达都是地产商，他们对于地皮的规划有着天然的优势。因此，欢乐谷、融创乐园等，走的都是“旅游+地产”的路线。\n上海迪士尼和北京环球影城为了能顺利拿地，都选择与当地政府、地产商进行合作。除了运营模式更加中西合璧之外，运营思路仍是“旅游+地产”。\n从具体区域选择来看，目前上海迪士尼和北京环球影城都在各自城市中的占据更优地理、交通等优势的强势区域（浦东新区、通州），后来者，如乐高乐园，就很难再拿到更好的地皮，只能屈居上海的金山区、北京的房山区这样的次优区域。\n华强方特、融创、宋城、长隆等乐园，则从一开始就放弃了竞争相对激烈的一二线城市，而是选择在自己的优势地区发挥特长。\n丰富有趣的娱乐设施\n惊险刺激的过山车，梦幻的旋转木马，巨大的城堡，逼真的4D技术……这些都成为了主题乐园的“标配”，并且这些娱乐设施和相应的视觉呈现技术一直在更新迭代。\n在北京环球影城就能明显地感受到新技术和旧技术的碰撞。\n一位前去打卡的B站Up主表示，小黄人的体验比哈利·波特上了许多个档次。\n据悉，小黄人版块使用了最新的4D呈现技术，画质高清。但“哈利·波特禁忌之旅”使用的，仍是2007年美国奥兰多环球影城内第一家哈利·波特主题乐园的呈现技术，画面十分模糊。\n在娱乐设施和呈现技术上，华强方特称得上是话语权较强的国内企业之一。得益于以销售特种电影设备起家，华强方特创始人曾在媒体上称：“迪士尼的技术我们都有。”\n\n这正是促使华强方特从室内游乐设施逐渐转型室外主题乐园的重要契机，也弥补了其在地产上的相对劣势——毕竟，“好玩”才是主题乐园吸引游客的关键因素。\n据悉，华强方特开设主题乐园主要是通过与各类投资者合作投资建设的方式，华强方特提供特种设备以及安装服务、特效工程建设服务或工程管理服务。\n而本就拥有地产运营能力的华侨城、融创、长隆等主题乐园的运营方，只能选择第三方合作的方式来引入设备和技术。\n成熟的IP及运营能力\n这是主题乐园的重中之重。\n迪士尼和环球影城所拥有的IP，大都已经形成了某种文化象征，在全球范围内产生了深远的影响。\n如哈利·波特迷、星球大战迷和魔戒迷们，都拥有一套成熟的内部黑话体系（如魔咒、精灵语），平时也以彰显自己独特的粉丝特征为荣，这便让相应的IP周边有了更多的发展空间。\n哪个粉丝去环球影城的哈利·波特禁忌之旅，会不买一根魔杖、不喝一杯黄油啤酒呢？哪个粉丝去迪士尼商城逛的时候，看到风暴兵的头盔会甘心空手而归呢？\n更何况这些IP大都已经有了数十年的积累，在故事内容上不断推陈出以新迎合新老粉丝的胃口，对几代人都产生了巨大的影响力，而这些影响力又催生出了逛主题乐园的游客的旺盛消费力。\n但光有这些还不够，主题乐园的灵魂是让这些IP在园区内“活”起来，带给游客逼真的沉浸式体验。\n迪士尼向来以梦幻著称，因为这就是一个童话王国，其中所有的童话人物都是鲜活的，会和游客打招呼互动，也会说出一些符合“人设”的旁白，走进乐园，会发自内心地感到快乐，这种感染力是此前国内许多主题乐园不曾有的。\n环球影城也不遑多让。有网友说，来到哈利·波特禁忌之旅，想找个充电宝，工作人员都会告诉你：“那是麻瓜用的，我们这儿没有。”\n挥一挥感应魔杖就会产生场景变化、厕所里哭泣的桃金娘……都是增加体验感的重要设计。\n\n要把这些IP尽可能原汁原味地呈现出来，得益于上海迪士尼和北京环球影城的“中方主投资+美方主运营”的模式。\n上海迪士尼由申迪集团与迪士尼共同投资设立了三家企业，其中两家是业主公司，第三家是管理公司。\n就像酒店的管理模式一样，双方合作成立的管理公司接受业主公司的委托，负责项目的创意、设计、开发和日常运营管理工作。这在迪士尼投资的海外乐园中也是第一次。\n北京环球影城同样借鉴了这个模式，由北京首寰文化旅游投资有限公司（简称“首寰投资”）和环球主题公司及度假区（康卡斯特NBC环球下属业务板块）合资经营，股权比例为70%和30%。\n这样做的好处是，作为IP的持有者，美方更了解IP真正的价值所在，从而能够将这些价值最大化。\n回到国内的主题乐园，他们在IP运营方面就多少有点巧妇难为无米之炊了。\n华侨城和融创基本采取的是和国内成熟IP合作的方式，更像是把IP贴牌在自家的游乐设施或者工作人员身上，从而吸引某个IP的受众前来游玩。\n如去年开业的南京欢乐谷，就和小黄鸭IP进行了绑定。在“没有一只鸭子能游出去”的南京，这个IP当然深受欢迎，也算定位准确。\n\n然而，即便有自有IP，要打造出色的沉浸感仍不是件容易的事，毕竟体验是一种既个性又微妙的感觉。\n坐落在苏州阳澄湖边的华谊兄弟电影世界，有《非诚勿扰》《狄仁杰之通天帝国》《太极》等多部华谊兄弟电影IP坐镇，但摆在IP运营上——许多项目空有实景却没有互动，既不能给消费者带来真正的沉浸式体验，更无法增加用户黏性，只剩下单调的拍照留念，最终门庭冷落。\n华强方特在自创IP和主题乐园的运营上有一定的独特性和原创性，和“旅游+地产”的模式不同，华强方特的战略是“文化+科技”，走内容为王的路线。\n但要想向迪士尼看齐，注定是一条非常难走的路。\n近十年来，华强方特打造了30余个自有IP，真正家喻户晓的只有《熊出没》。然而，这个有着8年历史的IP并没有为华强方特的主题乐园带来太多增色。\n究其原因，《熊出没》的主要受众是儿童，但主题公园的目标消费人群是20~30岁的年轻人。IP老化，目标人群错位，吸引力降低，自然使得主题公园的变现更加乏力。\n华强方特希望打造一个面向更高年龄层的IP，于是历时5年推出了奇幻题材的动漫电影《俑之城》。\n该片今年暑期上映，票房惨烈——特效虽好，但剧情、人物塑造“拉胯”，包含兵马俑、山海经等国风元素的设定太过混乱，还“拿来”了不少皮克斯、迪士尼动画电影的爆款元素……\n小朋友们可能看不懂，在见多识广的成人消费者面前，《俑之城》制作方自诩的原创像个笑话。\n 主题乐园的福气还在后头\n主题乐园属于重资产的运营模式，如今剩下的这些仍在营业的主题乐园，都是近十年来大浪淘沙下的产物。\n据统计，自上海迪士尼宣布建设开始的十年内，有80%的主题乐园先后倒闭，比如著名的东方乐园、“天工部落”、橘子洲沙滩乐园等。\n据此前报道，2016年前后国内主题乐园投资在5000万元以上的有300家左右，70%处于亏损状态，20%持平，只有10%实现盈利，约有1500亿元资金套牢在主题乐园的投资中。\n如今的主题乐园已经逐渐摆脱当时野蛮生长的状态，开始走向科学规划、IP运营的发展路径，运营也走上了正轨。\n从今年上半年的财报来看，华侨城的旅游综合业务实现收入189.22亿元、毛利46.85亿元，分别同比增长89.93%、24.98%。公司旗下26家景区、25家酒店、1家旅行社、6家开放式旅游区、1台旅游演艺共接待游客2848.2万人次，恢复至2019年同期的160%。\n融创文旅板块业绩也在快速增长，今年上半年营业收入26.1亿元，同比增长166%；客流量达7201万人次，同比提升103%。\n华强方特虽然有着自己的困扰，但今年上半年主题公园运营收入17.89亿元，同比增37.37%。此外，2021上半年，方特主题公园游客接待已恢复至2019年同期的近九成。\n这些成绩也得益于疫情之后，消费者们的“报复性”旅游、消费。此外，消费者们的消费心态也发生了些许转变——无论是游玩、购物还是餐饮，他们都更追求新奇、好玩的线下体验，这对主题乐园来说是绝佳的机遇。\n因此，不断为消费者带来新鲜感变得格外重要。差异化的定位、设备的更新迭代、技术的升级……这些都成为了主题乐园运营者永恒的话题和投入的重点。\n现在想入局主题乐园，后来者需要解决的问题越来越多。\n就拿泡泡玛特为例，其品牌受众多为一二线城市的新潮消费者，那么乐园的选址就势必只能限定在这个范围，成本必然大幅度增加；\n在乐园设施和技术的储备上，泡泡玛特很可能只能采取供应商合作制，而不可能自主研发，就算自研，也比不上有多年经验积累的前辈们；\n在自有IP的运营上，泡泡玛特的IP大多处在发展的初级阶段——即只有一个简单的IP形象，背后没有故事和内涵，同手握多个经典IP的迪士尼、环球影城根本不在一个量级水平，甚至比不上华强方特的《熊出没》更具普适性；\n再加上索尼、任天堂、乐高等拥有海量成熟IP、独特玩法和文化的企业也正对这一个赛道虎视眈眈……\n想成功运营一座主题乐园，难着呢！","news_type":1,"symbols_score_info":{"09992":0.9}},"isVote":1,"tweetType":1,"viewCount":1705,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}