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thomaschai

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2022-02-04

I

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2021-08-10

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2021-08-06

Good

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2022-02-23

Ggggg

Haidilao's pre-loss exceeded 3.8 billion yuan last year. Is there a play for this year's comeback?

2022-02-23

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2022-01-24

Hhhhh

The Spring Festival is approaching, holding shares or holding coins

2021-08-02

Rivian

Amazon-invested EV company Rivian may build new factory in the UK

2021-08-14

Hjj

Traders are betting that the Fed won't rate hike at all

2021-09-14

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2021-09-14

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Theme park, Bubble Mart can play understand?

Go to Tiger App to see more news

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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":3147,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Good good good good&nbsp;","listText":"Good good good good&nbsp;","text":"Good good good 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11:37","market":"hk","language":"zh","title":"Is Hong Kong stock OK again? Hengke Index once soared 5%. What is the key to see in the follow-up?","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>After the market yesterday, a number of heavy benefits landed. Today, Hong Kong stocks were \"salted fish reborn\", opening higher and going higher. The Hang Seng Technology Index once soared 5%, and the Hang Seng Index rose 529 points, or 2.74%, to 19,683 points. The H-Share 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>On the news side, aided by<a href=\"https://laohu8.com/S/NKE\">Nike</a>(Nike) and<a href=\"https://laohu8.com/S/FDX\">FedEx</a>reported upbeat quarterly earnings, as well as improved consumer confidence and lower inflation expectations from investors. The three major U.S. stock indexes closed higher on Wednesday, with all three indexes rising by more than 1%, the largest one-day gain so far in December, and Chinese stocks soared by nearly 4%.</p><p>The policy side also ushered in a number of good news. The SFC proposes to promote<b>Form a normalized cooperation mechanism for audit supervision between China and the United States, and speed up the implementation of \"green light\" cases for overseas listing of platform enterprises</b>； The National Standing Committee emphasized adhering to the \"two unwavering principles\",<b>Support private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p><h3>Hong Kong stocks have consolidated at high levels in recent days</h3>Yesterday, the three major indices of Hong Kong stocks fluctuated and closed higher, showing signs of stopping the fall after the previous day's sharp fall. However, due to the strong rebound of Hong Kong stocks after the optimization of epidemic prevention in November, the cumulative increase of Hang Seng Science Index was even as high as 50%, and then the funds chose to take profits and leave the market to wait and see.</p><p>The whole market sentiment plummeted with the absence of new hot spots. Yesterday, the turnover of Hong Kong stocks fell to less than 70 billion yuan, only 69.2 billion yuan. Superimposed on the return of funds brought by the Bank of Japan's unexpected sudden \"eagle\", under the restriction of stock funds, there is no obvious bright plate in the whole Hong Kong stock market.</p><p>With the successive implementation of the \"Twenty Articles\" and \"New Ten Articles\" of epidemic prevention policies, the marginal improvement effect brought by further adjustment of follow-up policies will also be reduced, and the market<b>At present, what is most concerned about is the recovery of social economic activities under the impact of the epidemic in the short term.</b></p><p><b>Looking forward to the first quarter, apart from the possibility of customs clearance with Hong Kong, we can hope that social activities will return to normal,</b>Among them, the first recovery is catering and tourism, so the sector was quite active yesterday, and today's holiday concept stocks continued to rise.<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>It rose by more than 14%,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Up more than 10%,<a href=\"https://laohu8.com/S/01579\">Yihai International</a>It rose by nearly 7%, the US Mission rose by 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 21st, Xiabu Group disclosed the latest dine-in consumption situation, and Xiabu North China market ushered in the first small consumption peak of dine-in resumption, and the customer flow of some restaurants rapidly picked up, reproducing the scene of waiting in line.</p><p>According to Haidilao, the passenger flow of the store is gradually recovering. Since December 16th, the passenger flow has begun to rebound. In recent days, the passenger flow has increased by nearly 50% compared with the same period last week. Haidilao said that it is expected to continue to pick up in the next two weeks, especially holidays such as weekends, Christmas and New Year's Day, which will usher in a wave of peak periods.</p><p><h3>China Securities Regulatory Commission and National Standing Committee make heavy voices</h3>In addition, after the market yesterday, the CSRC and the Standing Committee of the State have the latest support measures on real estate and platform economy.</p><p>The CSRC held a meeting to emphasize the need to expand the high-level institutional opening of the capital market.<b>Promote the interconnection of Shanghai-Shenzhen-Hong Kong Stock Connect to expand the target and optimize the trading calendar.</b></p><p><b>In terms of audit between China and the United States,</b>The CSRC pointed out that it would promote the formation of a normalized cooperation mechanism for audit supervision between China and the United States, and create a more stable and predictable international regulatory cooperation environment. Promote the implementation of the reform of the overseas listing system of enterprises, and speed up the implementation of the \"green light\" case of overseas listing of platform enterprises. We will deepen practical cooperation between the Mainland and Hong Kong capital markets and support Hong Kong to consolidate its status as an international financial centre.</p><p>It is worth mentioning that on the morning of December 15th, local time, the PCAOB of the United States released a report confirming that it can complete the inspection and investigation of accounting firms in mainland China and Hong Kong in 2022, and revoke the recognition of relevant firms in 2021. The market generally believes that this marks the positive results of Sino-US audit supervision cooperation, and releases a positive signal for Chinese enterprises to list in the United States.</p><p><b>In addition, the executive meeting of the State Council once again emphasized adhering to the \"two unwavering principles\" and supporting private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p>Xie Logistics, senior investment consultant of Jufeng Investment Consulting, believes that the implementation of various measures of the National Standing Committee will help to improve and promote the stable development of the economy, and play an important role in boosting the confidence of private enterprises and the market. The meeting also mentioned \"supporting the healthy and sustainable development of the platform economy\". There are thousands of jobs behind the platform economy. After the past period of supervision and governance, with the support of policies, it is believed that platform economy enterprises will play a greater role in the future. Today, technology stocks are in full swing,<a href=\"https://laohu8.com/S/09626\">Bilibili-W</a>It rose more than 9%, Aauto Quicker, 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 CSRC held a meeting to emphasize that it will vigorously support the stable development of the real estate market. Fully implement the plan to improve the balance sheet of high-quality housing enterprises, continue to implement the special support plan and support tools for bond financing of private enterprises, and better promote the cooperation and credit enhancement between the central and local governments to jointly support the issuance of bonds by private housing enterprises. Implement the equity financing policy of housing enterprises that has been introduced,<b>Qualified housing enterprises are allowed to \"backdoor\" listed housing enterprises, and listed companies in closely related industries such as real estate and construction are allowed to implement housing-related restructuring. Accelerate the creation of affordable rental housing REITs segment.</b></p><p>The central bank held a meeting to emphasize that supporting rigid and improved housing demand and guiding<a href=\"https://laohu8.com/S/FISI\">Financial institutions</a>Support the restructuring and mergers and acquisitions of the real estate industry, promote the prevention and resolution of risks of high-quality leading real estate enterprises, and improve the assets and liabilities of leading real estate enterprises.</p><p>Benefiting from this, the domestic housing stocks opened higher and went higher.<a href=\"https://laohu8.com/S/03301\">Ronshine China</a>It rose by over 22%, and Zhengrong Real Estate rose by over 8%.</p><p>The surge of consumer stocks such as technology stocks, mainland housing stocks and catering has driven the three major indexes of Hong Kong stocks to rise brightly.<b>This is because financial real estate, technology and other industries account for a large proportion of Hang Seng Index constituent stocks.</b></p><p>According to the quarterly inspection results of the Hang Seng Index in the third quarter, from the perspective of industry division, the proportion of financial industry in the Hang Seng Index dropped from 34.66% to 33.98%, public utilities dropped from 3.21% to 3.13%, real estate rose from 7.03% to 7.05%, and industry and commerce 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>After this adjustment, the coverage of real estate construction and 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 of the Hang Seng Index reached 48%. Therefore, from a microscopic point of view, the news about the new economy, real estate, finance and other aspects has a great impact on the trend of Hong Kong stocks.</p><p><h3>What do you think of the value of subsequent investment?</h3>On the whole, with overseas liquidity, domestic economic conditions, macro policy factors and other aspects expected to improve, most brokerage analysts believe that the cost performance ratio of Hong Kong stocks is outstanding, and it is expected that the trend next year will be full of hope.</p><p>According to the analysis of Ping An Securities, the high point of Hang Seng Index next year will be between 23,000-25,000, and it is recommended to allocate high-quality assets of Hong Kong stocks on dips.</p><p><a href=\"https://laohu8.com/S/000750\">Guohai Securities</a>It is believed that under the circumstances that internal policies release favorable signals and the influence of the Federal Reserve's rate hike will gradually weaken, we are optimistic about the boost of Internet performance after the recovery of external factors, the subsequent epidemic situation and the improvement of macro margins, and maintain the \"recommended\" rating of the industry.</p><p><a href=\"https://laohu8.com/S/601878\">Zheshang Securities</a>It said that 23 years is the year of Davis double-click in the Internet section, and both the profit end and the valuation end will perform beyond expectations.</p><p>In addition, foreign-funded institutions also suggest overweighing the Chinese stock market. JPMorgan sees 10% upside for MSCI China in 2023;<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It believes that Chinese stocks will outperform other markets in 2023, and recommends increasing their holdings. Morgan Stanley is bullish on China's stock market again after nearly two years, raising the target point of 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 stock OK again? Hengke Index once soared 5%. 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Hengke Index once soared 5%. What is the key to see in the follow-up?\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>After the market yesterday, a number of heavy benefits landed. Today, Hong Kong stocks were \"salted fish reborn\", opening higher and going higher. The Hang Seng Technology Index once soared 5%, and the Hang Seng Index rose 529 points, or 2.74%, to 19,683 points. The H-Share 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>On the news side, aided by<a href=\"https://laohu8.com/S/NKE\">Nike</a>(Nike) and<a href=\"https://laohu8.com/S/FDX\">FedEx</a>reported upbeat quarterly earnings, as well as improved consumer confidence and lower inflation expectations from investors. The three major U.S. stock indexes closed higher on Wednesday, with all three indexes rising by more than 1%, the largest one-day gain so far in December, and Chinese stocks soared by nearly 4%.</p><p>The policy side also ushered in a number of good news. The SFC proposes to promote<b>Form a normalized cooperation mechanism for audit supervision between China and the United States, and speed up the implementation of \"green light\" cases for overseas listing of platform enterprises</b>； The National Standing Committee emphasized adhering to the \"two unwavering principles\",<b>Support private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p><h3>Hong Kong stocks have consolidated at high levels in recent days</h3>Yesterday, the three major indices of Hong Kong stocks fluctuated and closed higher, showing signs of stopping the fall after the previous day's sharp fall. However, due to the strong rebound of Hong Kong stocks after the optimization of epidemic prevention in November, the cumulative increase of Hang Seng Science Index was even as high as 50%, and then the funds chose to take profits and leave the market to wait and see.</p><p>The whole market sentiment plummeted with the absence of new hot spots. Yesterday, the turnover of Hong Kong stocks fell to less than 70 billion yuan, only 69.2 billion yuan. Superimposed on the return of funds brought by the Bank of Japan's unexpected sudden \"eagle\", under the restriction of stock funds, there is no obvious bright plate in the whole Hong Kong stock market.</p><p>With the successive implementation of the \"Twenty Articles\" and \"New Ten Articles\" of epidemic prevention policies, the marginal improvement effect brought by further adjustment of follow-up policies will also be reduced, and the market<b>At present, what is most concerned about is the recovery of social economic activities under the impact of the epidemic in the short term.</b></p><p><b>Looking forward to the first quarter, apart from the possibility of customs clearance with Hong Kong, we can hope that social activities will return to normal,</b>Among them, the first recovery is catering and tourism, so the sector was quite active yesterday, and today's holiday concept stocks continued to rise.<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>It rose by more than 14%,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Up more than 10%,<a href=\"https://laohu8.com/S/01579\">Yihai International</a>It rose by nearly 7%, the US Mission rose by 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 21st, Xiabu Group disclosed the latest dine-in consumption situation, and Xiabu North China market ushered in the first small consumption peak of dine-in resumption, and the customer flow of some restaurants rapidly picked up, reproducing the scene of waiting in line.</p><p>According to Haidilao, the passenger flow of the store is gradually recovering. Since December 16th, the passenger flow has begun to rebound. In recent days, the passenger flow has increased by nearly 50% compared with the same period last week. Haidilao said that it is expected to continue to pick up in the next two weeks, especially holidays such as weekends, Christmas and New Year's Day, which will usher in a wave of peak periods.</p><p><h3>China Securities Regulatory Commission and National Standing Committee make heavy voices</h3>In addition, after the market yesterday, the CSRC and the Standing Committee of the State have the latest support measures on real estate and platform economy.</p><p>The CSRC held a meeting to emphasize the need to expand the high-level institutional opening of the capital market.<b>Promote the interconnection of Shanghai-Shenzhen-Hong Kong Stock Connect to expand the target and optimize the trading calendar.</b></p><p><b>In terms of audit between China and the United States,</b>The CSRC pointed out that it would promote the formation of a normalized cooperation mechanism for audit supervision between China and the United States, and create a more stable and predictable international regulatory cooperation environment. Promote the implementation of the reform of the overseas listing system of enterprises, and speed up the implementation of the \"green light\" case of overseas listing of platform enterprises. We will deepen practical cooperation between the Mainland and Hong Kong capital markets and support Hong Kong to consolidate its status as an international financial centre.</p><p>It is worth mentioning that on the morning of December 15th, local time, the PCAOB of the United States released a report confirming that it can complete the inspection and investigation of accounting firms in mainland China and Hong Kong in 2022, and revoke the recognition of relevant firms in 2021. The market generally believes that this marks the positive results of Sino-US audit supervision cooperation, and releases a positive signal for Chinese enterprises to list in the United States.</p><p><b>In addition, the executive meeting of the State Council once again emphasized adhering to the \"two unwavering principles\" and supporting private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p>Xie Logistics, senior investment consultant of Jufeng Investment Consulting, believes that the implementation of various measures of the National Standing Committee will help to improve and promote the stable development of the economy, and play an important role in boosting the confidence of private enterprises and the market. The meeting also mentioned \"supporting the healthy and sustainable development of the platform economy\". There are thousands of jobs behind the platform economy. After the past period of supervision and governance, with the support of policies, it is believed that platform economy enterprises will play a greater role in the future. Today, technology stocks are in full swing,<a href=\"https://laohu8.com/S/09626\">Bilibili-W</a>It rose more than 9%, Aauto Quicker, 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 CSRC held a meeting to emphasize that it will vigorously support the stable development of the real estate market. Fully implement the plan to improve the balance sheet of high-quality housing enterprises, continue to implement the special support plan and support tools for bond financing of private enterprises, and better promote the cooperation and credit enhancement between the central and local governments to jointly support the issuance of bonds by private housing enterprises. Implement the equity financing policy of housing enterprises that has been introduced,<b>Qualified housing enterprises are allowed to \"backdoor\" listed housing enterprises, and listed companies in closely related industries such as real estate and construction are allowed to implement housing-related restructuring. Accelerate the creation of affordable rental housing REITs segment.</b></p><p>The central bank held a meeting to emphasize that supporting rigid and improved housing demand and guiding<a href=\"https://laohu8.com/S/FISI\">Financial institutions</a>Support the restructuring and mergers and acquisitions of the real estate industry, promote the prevention and resolution of risks of high-quality leading real estate enterprises, and improve the assets and liabilities of leading real estate enterprises.</p><p>Benefiting from this, the domestic housing stocks opened higher and went higher.<a href=\"https://laohu8.com/S/03301\">Ronshine China</a>It rose by over 22%, and Zhengrong Real Estate rose by over 8%.</p><p>The surge of consumer stocks such as technology stocks, mainland housing stocks and catering has driven the three major indexes of Hong Kong stocks to rise brightly.<b>This is because financial real estate, technology and other industries account for a large proportion of Hang Seng Index constituent stocks.</b></p><p>According to the quarterly inspection results of the Hang Seng Index in the third quarter, from the perspective of industry division, the proportion of financial industry in the Hang Seng Index dropped from 34.66% to 33.98%, public utilities dropped from 3.21% to 3.13%, real estate rose from 7.03% to 7.05%, and industry and commerce 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>After this adjustment, the coverage of real estate construction and 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 of the Hang Seng Index reached 48%. Therefore, from a microscopic point of view, the news about the new economy, real estate, finance and other aspects has a great impact on the trend of Hong Kong stocks.</p><p><h3>What do you think of the value of subsequent investment?</h3>On the whole, with overseas liquidity, domestic economic conditions, macro policy factors and other aspects expected to improve, most brokerage analysts believe that the cost performance ratio of Hong Kong stocks is outstanding, and it is expected that the trend next year will be full of hope.</p><p>According to the analysis of Ping An Securities, the high point of Hang Seng Index next year will be between 23,000-25,000, and it is recommended to allocate high-quality assets of Hong Kong stocks on dips.</p><p><a href=\"https://laohu8.com/S/000750\">Guohai Securities</a>It is believed that under the circumstances that internal policies release favorable signals and the influence of the Federal Reserve's rate hike will gradually weaken, we are optimistic about the boost of Internet performance after the recovery of external factors, the subsequent epidemic situation and the improvement of macro margins, and maintain the \"recommended\" rating of the industry.</p><p><a href=\"https://laohu8.com/S/601878\">Zheshang Securities</a>It said that 23 years is the year of Davis double-click in the Internet section, and both the profit end and the valuation end will perform beyond expectations.</p><p>In addition, foreign-funded institutions also suggest overweighing the Chinese stock market. JPMorgan sees 10% upside for MSCI China in 2023;<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It believes that Chinese stocks will outperform other markets in 2023, and recommends increasing their holdings. Morgan Stanley is bullish on China's stock market again after nearly two years, raising the target point of 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","HSTECH":"恒生科技指数","HSI":"恒生指数","02833":"恒指ETF"},"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,"MCHmain":0.6,"HSI":1,"HSTECH":0.9,"HHImain":0.6,"02833":0.6}},"isVote":1,"tweetType":1,"viewCount":2847,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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's pre-loss exceeded 3.8 billion yuan last year. Is there a play for this year's comeback?","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>Will suffer the first loss since listing.</p><p>On February 21st, Haidilao issued a profit warning — —<b>It is expected to lose 3.8 billion to 4.5 billion yuan for the full year of 2021.</b>According to the financial report, from 2018 to 2020, Haidilao's net profit was 1.646 billion yuan, 2.345 billion yuan and 309 million yuan respectively, totaling about 4.3 billion yuan. In other words, Haidilao, which also made a profit of 94.529 million yuan in the first half of 2021,<b>In only half a year, he almost lost all the profits of three years of listing.</b></p><p>In response to the reason for the loss, Haidilao said,<b>In 2021, more than 300 restaurants were closed, as well as the decline in restaurant performance and other factors, resulting in one-time losses and impairment losses on disposal of long-term assets (buildings, equipment, etc.) totaling approximately 3.3 billion to 3.9 billion yuan.</b>In addition, Haidilao also mentioned the impact of the pandemic, rapid expansion, and internal management problems.</p><p>Haidilao's profit dropped sharply, and the attitude of the keen capital market towards the once \"myth of the catering industry\" was the same.</p><p>As of the close of trading on February 22nd, Haidilao reported HK$ 18.92/share, with a total market value of HK$ 105.5 billion (about RMB 85.737 billion). In February 2021, Haidilao's share price reached a historical peak of HK$85.75 per share, and its total market value was once close to HK$470 billion (approximately RMB381.958 billion).<b>In contrast, Haidilao evaporated nearly 300 billion yuan in one year.</b></p><p>Haidilao once became a \"phenomenal\" existence with its high-quality service. Before it went public, it relied on tens of billions of revenue and was called the \"aircraft carrier\" of the catering industry. Nowadays, Haidilao not only suffers a sharp drop in profit and stock price, but also keeps falling into the public opinion of price increase, shortage of pounds and even food safety.</p><p>Has Haidilao skimmed the bubble, or is it going to fall to the bottom of the sea?</p><p><b>Emergency braking closes 1/5 stores</b></p><p>How fast has Haidilao expanded in recent years? As of 2017, before listing, Haidilao was founded for 23 years, with a total of only 273 stores. After listing, Haidilao began to accelerate its expansion-a net increase of 193 stores in 2018; 308 new openings in 2019; In 2020, the pandemic continued to expand by 544; In the first half of 2021, 299 new businesses were added again.</p><p>Rapid expansion strategies stimulate the nerves of investors in the secondary market. Since its listing on September 26, 2018, Haidilao's share price has reached a record high of HK$85.75 per share from the issue price of HK$17.8 per share to February 2021, with a total market value once close to HK$470 billion.</p><p><b>Haidilao founders Zhang Yong and his wife and second-in-command Shi Yonghong placed 70.5 million shares at a price of HK$33.2 per share on May 6, 2020, cashing out a total of 2.34 billion yuan.</b></p><p>In November 2021, Haidilao suddenly took the initiative to brake, announcing the gradual closure of about 300 stores that failed to meet expectations, some of which will be temporarily rested and reopened at an opportunity, with a maximum rest period of no more than two years.</p><p>As for the reason for closing the store, Haidilao said that the operation of the stores planned to be closed failed to meet expectations, which was caused by the rapid expansion strategy formulated in 2019. Specifically, it includes the wrong location of some stores, the change of organizational structure that makes managers too tired, the number of excellent managers is insufficient, the KPI indicators of overbelief in connected interests are overbelieved, and the construction of corporate culture is insufficient.</p><p>As of June 30, 2021, the number of Haidilao stores worldwide reached 1,597. The closure of 300 stores means that the number of stores in Haidilao will be reduced by 1/5.</p><p><img src=\"https://static.tigerbbs.com/ddefb76a367ec0d40497a273ae82b807\" tg-width=\"506\" tg-height=\"380\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>Behind the survival of the broken arm, Haidilao is trapped in the dark cloud of \"increasing income without increasing profits\".</p><p>According to the announcement, Haidilao's revenue in 2021 is expected to exceed RMB 40 billion, compared with the revenue of about RMB 28.6 billion in 2020, an increase of more than 40%.</p><p>The revenue hit a record high, but the net profit is expected to lose 3.8 billion yuan to 4.5 billion yuan. The reason behind this is closely related to the turnover rate. Table turnover rate refers to the average number of times each table is used in a restaurant in a day. It is recognized as the core data of the catering industry, which is directly related to the income of the restaurant and directly reflects the customer's love for the restaurant.</p><p>In 2018, Haidilao served 160 million people, with an average turnover rate of 5.2 times/day, almost the highest turnover rate in the catering industry. However, in recent years, the turnover rate of Haidilao has declined continuously.<b>In 2019 and 2020, the turnover rate of Haidilao was 4.8 times/day and 3.5 times/day, respectively, and directly dropped to 3 times/day in 2021.</b></p><p>The enthusiasm of the capital market is not directly proportional to the word-of-mouth in the market.</p><p>According to incomplete statistics, Haidilao has been on the hot search for more than 35 times in 2021, and there are many negative topics, such as \"Haidilao beef grains have changed\", \"Zhengzhou Haidilao 72 yuan 200 grams of tripe is actually only 138 grams\" and so on.</p><p>On the evening of November 1, 2021, the topic \"Haidilao Douhua was fined 20,000 yuan for expiration\" also topped the hot search list.</p><p>In the case of increasing income and increasing profits, Haidilao's signature quality \"shrank\", its reputation declined or affected diners' patronage, and it fell into an a vicious circle.</p><p><b>\"Master-Apprentice System\" Stalled</b></p><p>As early as the beginning of 2021, a number of media reported the phenomenon of \"closure tide\" of Haidilao stores in Beijing. The main reason is improper site selection.</p><p>According to Caijing.com,<b>According to a person familiar with the matter, \"In fact, Haidilao signed more than 600 stores last year (2020), but actually only opened more than 300 stores. Haidilao lowered the standard of opening stores, but now it has found a 'stall', and recently stopped some unoptimistic stores.\"</b></p><p>The person familiar with the matter also said, \"Sanlitun is only 4.4 kilometers away from Youtang. Within this range, there are nearly six stores, such as SOHO Store, 3.3 Store, Huapu Shopping Store, Ritan Store and Youtang Store under renovation. For catering brands that go to dinner, they generally don't tend to open two stores within three kilometers.\"</p><p>Generally speaking, the location of a brand's stores is mainly led by development and development personnel. In Haidilao, the store manager, that is, \"Master\", is currently responsible for the location of the store.</p><p>All along, the \"master-apprentice system\" has been a proud management tool of Haidilao in the industry.</p><p><img src=\"https://static.tigerbbs.com/01da9343a6182c8a27185ded836ac8a1\" tg-width=\"1080\" tg-height=\"776\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>According to Haidilao's prospectus, in addition to the basic salary, the remuneration of a store manager as a master can also be rewarded with 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 apprentice and grandson restaurants * apprentice and grandson restaurant profit 1.5%</b></p><p>Take the monthly profit of 1 million yuan in your own restaurant as an example. If the store manager only does his own restaurant well, he can get a bonus of 28,000 yuan; However, if the store manager takes out two apprentice shops (the monthly profit is also 1 million), the profit share of the store manager only can reach 2*100*3.1% =62,000.</p><p>Under such a salary structure, the wealth myth of Haidilao store manager's highest annual salary of 6 million yuan was created.</p><p>It is also driven by the \"master-apprentice system\" management mode that there is such a huge number of stores in Haidilao \"empire\". Previously, some market voices thought that:<b>\"Haidilao didn't start by service. Its secret is 'pyramid scheme', which is a master-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 Master takes his apprentice to open a store, he will definitely do his best to choose a new store location with the greatest commercial potential and the highest rate of return. However, if it is only the development specialist who decides, it is very likely that there will be a risk of wrong site selection because he does not need to be responsible for future operations. The probabilities between the two are very different.\"</p><p>In June 2021, at the annual general meeting of Haidilao, Chairman Zhang Yong publicly reflected,<b>Acknowledging that the decision to make the store expansion in June 2020 was wrong. In the announcement issued on November 5, 2021, Haidilao once again admitted the phenomenon of \"mistakes in location selection of some stores\" caused by the rapid expansion strategy. The root cause is the interest chain of \"master-apprentice system\" store opening.</b></p><p><b>The tuition was not paid in vain</b></p><p>At the same time, Haidilao announced the launch of the \"Woodpecker\" plan, continued to pay attention to stores with poor operating performance, strengthened internal management and assessment mechanism, and reduced business expansion.<b>Before the company's operating conditions are comprehensively improved, the company will shrink the Group's business expansion plan in due course, and the average turnover rate will not reach 4 times/day. In principle, new branches will not be opened on a large scale.</b></p><p>It can be seen that Haidilao has realized that there are extremely high risks in the economic downturn and contrarian expansion during the epidemic period, and its own management mode needs to be improved. This time, the tuition was not paid in vain.</p><p>However, where does Haidilao go next?</p><p>Zhu Danpeng, a food industry analyst, believes that on the whole, Haidilao's strategy can be described as \"surviving with a broken arm\", which should be a more correct approach, and there is not much room for expansion in Haidilao in the future.</p><p>At present, the hot pot track is churning in the Red Sea, and high-end and segmentation have become a trend.</p><p>According to the report of \"China Catering Big Data 2020\", with the development of the industry and the improvement of residents' disposable income level, the number of stores with a customer unit price of 120 yuan and above accounts for a small amount of hot pot restaurants in China, but it is growing rapidly, while the number of stores with a customer unit price of 30 yuan and below has experienced negative growth in all tier cities.</p><p>Among them, the competition among the top hot pot brands is more intense.</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, and has become a strong rival in Haidilao's next development road.<b>Take the per capita consumption on public comments as an example. Searching for Coucou hot pot in Shanghai, the price range is 150-170 yuan, and the price range of Haidilao is 100-150 yuan. In terms of unit price, the hot pot has exceeded the price of Haidilao.</b></p><p><img src=\"https://static.tigerbbs.com/feaef3a3216232fae7d71ad90cfb1153\" tg-width=\"506\" tg-height=\"379\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>In terms of service, at the end of 2020, Coucou launched the first new model store of \"hot pot + tavern + tea drink\" in China, selling hot pot at noon, milk tea in the afternoon, and turning it into a bar at night. In the hot pot restaurant, \"Bundy\" directly benchmarks Haidilao's \"hair washing\" and \"nail art\" in the hot pot restaurant. Haidilao has always been famous for its \"good service\", and it is possible to replace \"Haidilao-style service\" by making differentiated service forms.</p><p>Meanwhile, brand rookies appeared one after another to carve up the cake.</p><p>August 2021,<b>Brother Zhou Hot Pot received hundreds of millions of yuan in Series A financing from Black Ant Capital; Banu Maodu Hot Pot also said that it will complete a new round of financing of over 500 million yuan, led by CPE Yuanfeng Capital, followed by Sunchu Capital, Gaorong Capital and Tomato Capital.</b></p><p>However, some analysts pointed out that Haidilao still has potential room for growth-continuing to expand horizontally around the hot pot scene.</p><p>At present, Haidilao has made hot pot ingredients supermarket, ready-made food, fast food, and also opened a \"milk tea shop\". At the end of last year, Haidilao launched seven products, namely pot bottom, dishes and snacks, and 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 3.5 billion yuan of cash and cash equivalents, which will undoubtedly increase the possibility and confidence of Haidilao's horizontal expansion.</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's pre-loss exceeded 3.8 billion yuan last year. Is there a play for this year's comeback?</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's pre-loss exceeded 3.8 billion yuan last year. Is there a play for this year's comeback?\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>Will suffer the first loss since listing.</p><p>On February 21st, Haidilao issued a profit warning — —<b>It is expected to lose 3.8 billion to 4.5 billion yuan for the full year of 2021.</b>According to the financial report, from 2018 to 2020, Haidilao's net profit was 1.646 billion yuan, 2.345 billion yuan and 309 million yuan respectively, totaling about 4.3 billion yuan. In other words, Haidilao, which also made a profit of 94.529 million yuan in the first half of 2021,<b>In only half a year, he almost lost all the profits of three years of listing.</b></p><p>In response to the reason for the loss, Haidilao said,<b>In 2021, more than 300 restaurants were closed, as well as the decline in restaurant performance and other factors, resulting in one-time losses and impairment losses on disposal of long-term assets (buildings, equipment, etc.) totaling approximately 3.3 billion to 3.9 billion yuan.</b>In addition, Haidilao also mentioned the impact of the pandemic, rapid expansion, and internal management problems.</p><p>Haidilao's profit dropped sharply, and the attitude of the keen capital market towards the once \"myth of the catering industry\" was the same.</p><p>As of the close of trading on February 22nd, Haidilao reported HK$ 18.92/share, with a total market value of HK$ 105.5 billion (about RMB 85.737 billion). In February 2021, Haidilao's share price reached a historical peak of HK$85.75 per share, and its total market value was once close to HK$470 billion (approximately RMB381.958 billion).<b>In contrast, Haidilao evaporated nearly 300 billion yuan in one year.</b></p><p>Haidilao once became a \"phenomenal\" existence with its high-quality service. Before it went public, it relied on tens of billions of revenue and was called the \"aircraft carrier\" of the catering industry. Nowadays, Haidilao not only suffers a sharp drop in profit and stock price, but also keeps falling into the public opinion of price increase, shortage of pounds and even food safety.</p><p>Has Haidilao skimmed the bubble, or is it going to fall to the bottom of the sea?</p><p><b>Emergency braking closes 1/5 stores</b></p><p>How fast has Haidilao expanded in recent years? As of 2017, before listing, Haidilao was founded for 23 years, with a total of only 273 stores. After listing, Haidilao began to accelerate its expansion-a net increase of 193 stores in 2018; 308 new openings in 2019; In 2020, the pandemic continued to expand by 544; In the first half of 2021, 299 new businesses were added again.</p><p>Rapid expansion strategies stimulate the nerves of investors in the secondary market. Since its listing on September 26, 2018, Haidilao's share price has reached a record high of HK$85.75 per share from the issue price of HK$17.8 per share to February 2021, with a total market value once close to HK$470 billion.</p><p><b>Haidilao founders Zhang Yong and his wife and second-in-command Shi Yonghong placed 70.5 million shares at a price of HK$33.2 per share on May 6, 2020, cashing out a total of 2.34 billion yuan.</b></p><p>In November 2021, Haidilao suddenly took the initiative to brake, announcing the gradual closure of about 300 stores that failed to meet expectations, some of which will be temporarily rested and reopened at an opportunity, with a maximum rest period of no more than two years.</p><p>As for the reason for closing the store, Haidilao said that the operation of the stores planned to be closed failed to meet expectations, which was caused by the rapid expansion strategy formulated in 2019. Specifically, it includes the wrong location of some stores, the change of organizational structure that makes managers too tired, the number of excellent managers is insufficient, the KPI indicators of overbelief in connected interests are overbelieved, and the construction of corporate culture is insufficient.</p><p>As of June 30, 2021, the number of Haidilao stores worldwide reached 1,597. The closure of 300 stores means that the number of stores in Haidilao will be reduced by 1/5.</p><p><img src=\"https://static.tigerbbs.com/ddefb76a367ec0d40497a273ae82b807\" tg-width=\"506\" tg-height=\"380\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>Behind the survival of the broken arm, Haidilao is trapped in the dark cloud of \"increasing income without increasing profits\".</p><p>According to the announcement, Haidilao's revenue in 2021 is expected to exceed RMB 40 billion, compared with the revenue of about RMB 28.6 billion in 2020, an increase of more than 40%.</p><p>The revenue hit a record high, but the net profit is expected to lose 3.8 billion yuan to 4.5 billion yuan. The reason behind this is closely related to the turnover rate. Table turnover rate refers to the average number of times each table is used in a restaurant in a day. It is recognized as the core data of the catering industry, which is directly related to the income of the restaurant and directly reflects the customer's love for the restaurant.</p><p>In 2018, Haidilao served 160 million people, with an average turnover rate of 5.2 times/day, almost the highest turnover rate in the catering industry. However, in recent years, the turnover rate of Haidilao has declined continuously.<b>In 2019 and 2020, the turnover rate of Haidilao was 4.8 times/day and 3.5 times/day, respectively, and directly dropped to 3 times/day in 2021.</b></p><p>The enthusiasm of the capital market is not directly proportional to the word-of-mouth in the market.</p><p>According to incomplete statistics, Haidilao has been on the hot search for more than 35 times in 2021, and there are many negative topics, such as \"Haidilao beef grains have changed\", \"Zhengzhou Haidilao 72 yuan 200 grams of tripe is actually only 138 grams\" and so on.</p><p>On the evening of November 1, 2021, the topic \"Haidilao Douhua was fined 20,000 yuan for expiration\" also topped the hot search list.</p><p>In the case of increasing income and increasing profits, Haidilao's signature quality \"shrank\", its reputation declined or affected diners' patronage, and it fell into an a vicious circle.</p><p><b>\"Master-Apprentice System\" Stalled</b></p><p>As early as the beginning of 2021, a number of media reported the phenomenon of \"closure tide\" of Haidilao stores in Beijing. The main reason is improper site selection.</p><p>According to Caijing.com,<b>According to a person familiar with the matter, \"In fact, Haidilao signed more than 600 stores last year (2020), but actually only opened more than 300 stores. Haidilao lowered the standard of opening stores, but now it has found a 'stall', and recently stopped some unoptimistic stores.\"</b></p><p>The person familiar with the matter also said, \"Sanlitun is only 4.4 kilometers away from Youtang. Within this range, there are nearly six stores, such as SOHO Store, 3.3 Store, Huapu Shopping Store, Ritan Store and Youtang Store under renovation. For catering brands that go to dinner, they generally don't tend to open two stores within three kilometers.\"</p><p>Generally speaking, the location of a brand's stores is mainly led by development and development personnel. In Haidilao, the store manager, that is, \"Master\", is currently responsible for the location of the store.</p><p>All along, the \"master-apprentice system\" has been a proud management tool of Haidilao in the industry.</p><p><img src=\"https://static.tigerbbs.com/01da9343a6182c8a27185ded836ac8a1\" tg-width=\"1080\" tg-height=\"776\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>According to Haidilao's prospectus, in addition to the basic salary, the remuneration of a store manager as a master can also be rewarded with 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 apprentice and grandson restaurants * apprentice and grandson restaurant profit 1.5%</b></p><p>Take the monthly profit of 1 million yuan in your own restaurant as an example. If the store manager only does his own restaurant well, he can get a bonus of 28,000 yuan; However, if the store manager takes out two apprentice shops (the monthly profit is also 1 million), the profit share of the store manager only can reach 2*100*3.1% =62,000.</p><p>Under such a salary structure, the wealth myth of Haidilao store manager's highest annual salary of 6 million yuan was created.</p><p>It is also driven by the \"master-apprentice system\" management mode that there is such a huge number of stores in Haidilao \"empire\". Previously, some market voices thought that:<b>\"Haidilao didn't start by service. Its secret is 'pyramid scheme', which is a master-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 Master takes his apprentice to open a store, he will definitely do his best to choose a new store location with the greatest commercial potential and the highest rate of return. However, if it is only the development specialist who decides, it is very likely that there will be a risk of wrong site selection because he does not need to be responsible for future operations. The probabilities between the two are very different.\"</p><p>In June 2021, at the annual general meeting of Haidilao, Chairman Zhang Yong publicly reflected,<b>Acknowledging that the decision to make the store expansion in June 2020 was wrong. In the announcement issued on November 5, 2021, Haidilao once again admitted the phenomenon of \"mistakes in location selection of some stores\" caused by the rapid expansion strategy. The root cause is the interest chain of \"master-apprentice system\" store opening.</b></p><p><b>The tuition was not paid in vain</b></p><p>At the same time, Haidilao announced the launch of the \"Woodpecker\" plan, continued to pay attention to stores with poor operating performance, strengthened internal management and assessment mechanism, and reduced business expansion.<b>Before the company's operating conditions are comprehensively improved, the company will shrink the Group's business expansion plan in due course, and the average turnover rate will not reach 4 times/day. In principle, new branches will not be opened on a large scale.</b></p><p>It can be seen that Haidilao has realized that there are extremely high risks in the economic downturn and contrarian expansion during the epidemic period, and its own management mode needs to be improved. This time, the tuition was not paid in vain.</p><p>However, where does Haidilao go next?</p><p>Zhu Danpeng, a food industry analyst, believes that on the whole, Haidilao's strategy can be described as \"surviving with a broken arm\", which should be a more correct approach, and there is not much room for expansion in Haidilao in the future.</p><p>At present, the hot pot track is churning in the Red Sea, and high-end and segmentation have become a trend.</p><p>According to the report of \"China Catering Big Data 2020\", with the development of the industry and the improvement of residents' disposable income level, the number of stores with a customer unit price of 120 yuan and above accounts for a small amount of hot pot restaurants in China, but it is growing rapidly, while the number of stores with a customer unit price of 30 yuan and below has experienced negative growth in all tier cities.</p><p>Among them, the competition among the top hot pot brands is more intense.</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, and has become a strong rival in Haidilao's next development road.<b>Take the per capita consumption on public comments as an example. Searching for Coucou hot pot in Shanghai, the price range is 150-170 yuan, and the price range of Haidilao is 100-150 yuan. In terms of unit price, the hot pot has exceeded the price of Haidilao.</b></p><p><img src=\"https://static.tigerbbs.com/feaef3a3216232fae7d71ad90cfb1153\" tg-width=\"506\" tg-height=\"379\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>In terms of service, at the end of 2020, Coucou launched the first new model store of \"hot pot + tavern + tea drink\" in China, selling hot pot at noon, milk tea in the afternoon, and turning it into a bar at night. In the hot pot restaurant, \"Bundy\" directly benchmarks Haidilao's \"hair washing\" and \"nail art\" in the hot pot restaurant. Haidilao has always been famous for its \"good service\", and it is possible to replace \"Haidilao-style service\" by making differentiated service forms.</p><p>Meanwhile, brand rookies appeared one after another to carve up the cake.</p><p>August 2021,<b>Brother Zhou Hot Pot received hundreds of millions of yuan in Series A financing from Black Ant Capital; Banu Maodu Hot Pot also said that it will complete a new round of financing of over 500 million yuan, led by CPE Yuanfeng Capital, followed by Sunchu Capital, Gaorong Capital and Tomato Capital.</b></p><p>However, some analysts pointed out that Haidilao still has potential room for growth-continuing to expand horizontally around the hot pot scene.</p><p>At present, Haidilao has made hot pot ingredients supermarket, ready-made food, fast food, and also opened a \"milk tea shop\". At the end of last year, Haidilao launched seven products, namely pot bottom, dishes and snacks, and 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 3.5 billion yuan of cash and cash equivalents, which will undoubtedly increase the possibility and confidence of Haidilao's horizontal expansion.</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":{"06862":"海底捞","BK1591":"就地过年概念","BK1233":"餐馆","BK1583":"高瓴概念","BK1589":"北水核心资产","BK1604":"节假日概念"},"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":2813,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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":2929,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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":2426,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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":"The Spring Festival is approaching, holding shares or holding coins","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>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold money or hold shares for the New Year. Therefore, this paper statistically reviews the performance of A-share market around the Spring Festival from 2010 to 2021 for investors' reference.</p><p><b>The effect of A-share Spring Festival is remarkable, and the probability of market rise before and after the holiday is high. In the past decade or so, the red envelope of Spring Festival in A-share market has obvious characteristics of low risk and high return.</b>From the perspective of increase, in the past 12 years, the average cumulative yield of wind All A in the five trading days before the Spring Festival is 1.9%, and the median is 2.6%, and the average cumulative yield in the five trading days after the Spring Festival is 1.4%, and the median is 1.8%. Moreover, the market performance during the Spring Festival over the years is obviously more stable than that of the whole year, that is to say, compared with the overall increase of the whole year, the market red envelopes during the Spring Festival have obvious characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and GEM Index performed better than the Shanghai Composite Index, and the small and medium-sized cap indexes such as CSI 500 and CSI 1000 were better than the heavyweight indexes such as SSE 50 and CSI 300.</b>From the perspective of increase, in the past 12 years, the median cumulative yields of the GEM index in the five trading days before/after the Spring Festival were 2.4% and 4.1% respectively, and the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative yield of the National Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival was 2.0% and 4.4% respectively, while the CSI 300 Index was 1.9% and 0.6%.</p><p><b>Judging from the performance of various industries, the first-level industries in Shenwan generally closed up with a high probability around the Spring Festival, and the nonferrous metals, electronics, computer and other sectors performed relatively well.</b>The non-ferrous metals sector posted a median gain of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, which was the best performer among all sectors. In the five trading days after the Spring Festival, the median cumulative increase is still the best performance of the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good.</p><p><b>Judging from the performance of each style index, each major style index also has a high probability of closing up around the Spring Festival, and the style of high P/E is better than that of low P/E, the style of high-priced stocks is better than that of low-priced stocks, and the style of low-profit stocks with losses is better than that of blue-chip stocks.</b>The median accumulated gains of high-P/E stock styles in the five trading days before/after the Spring Festival between 2010 and 2021 were 2.5% and 3.4%, respectively, better than the 1.9% and 0.6% of low-P/E stocks. The median accumulated gains of high-priced stock style in the five trading days before/after the Spring Festival in the past 10 years are 3.3% and 1.6% respectively, which is better than that of low-priced stocks of 1.1% and 2.4%. The median accumulated gains of loss-making stock style in the five trading days before/after the Spring Festival in the past 10 years are 2.3% and 4.2% respectively, which are better than the 2.5% and 0.6% of blue-chip stocks overall.</p><p>Risk: The macroeconomy is less than expected, overseas markets fluctuate greatly, and historical experience does not represent the future.</p><p>The text is as follows:</p><p>Holding shares or holding currencies, combing the market characteristics before and after the Spring Festival</p><p>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold money or hold shares for the New Year. Therefore, this paper reviews the performance of A-share market around the Spring Festival in the past ten years for investors' reference.</p><p>1. A-share Spring Festival effect is significant, and the probability of market rise before and after the holiday is high</p><p>A-share Spring Festival effect is significant, and the probability of market rise before and after the holiday is relatively high. We have summarized the performance of the yield before and after the Spring Festival from 2010 to 2021. Generally speaking, the performance of the A-share market before and after the Spring Festival is good in most cases, and the rising probability of major broad-based indexes is relatively high. In the past 12 years, in 9 years, the accumulated income of wind All A has risen in 5 trading days before and 5 trading days after the holiday, that is, the probability of increase is as high as 75%. In these 12 years, only 8 years of annual accumulated income of wind All A have been positive. Therefore, from the perspective of probability, there is indeed a significant Spring Festival effect in the performance of A-share market.</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>From the perspective of ups and downs, the Spring Festival red envelopes in the A-share market in the past decade or so have obvious characteristics of low risk and high return.</b>From the perspective of increase, in the past 12 years, the average cumulative yield of wind All A in the five trading days before the Spring Festival is 1.9%, and the median is 2.6%, and the average cumulative yield in the five trading days after the Spring Festival is 1.4%, and the median is 1.8%. And from the perspective of volatility, the market performance during the Spring Festival over the years is obviously more stable than that of the whole year, that is to say, compared with the overall increase of the whole year, the market red envelopes during the Spring Festival have obvious characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and GEM Index performed better than the Shanghai Composite Index, and the small and medium-sized cap indexes such as CSI 500 and CSI 1000 were better than the heavyweight indexes such as SSE 50 and CSI 300.</b>From the perspective of increase, in the past 12 years, the median cumulative yields of the GEM index in the five trading days before/after the Spring Festival were 2.4% and 4.1% respectively, and the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative yield of the National Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival was 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. Nonferrous, electronic and computer performance is relatively dominant</p><p><b>Judging from the performance of various industries, in the past 10 years, the cumulative closing probability of each first-level industry in Shenwan in the five trading days before and after the Spring Festival is generally above 50%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, the first-class industry of Shenwan performed better before and after the holiday, and the number of increases was much higher than the number of declines. Among them, the pharmaceutical and biological industry has all risen in the five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and a probability of rising as high as 92% in the five trading days after the Spring Festival. In addition, the probability of rising the electronic and electrical equipment industries in the five trading days before and after the holiday is also above 80%.</p><p><b>Judging from the absolute data of the ups and downs of various industries, the performance of nonferrous metals, electronics, computers and other sectors around the Spring Festival is relatively good, while the performance of the financial sector is relatively low.</b>The non-ferrous metals sector posted a median gain of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, which was the best performer among all sectors. In the five trading days after the Spring Festival, the median cumulative increase is still the best performance of the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good, while the financial sector performs relatively poorly in 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 blue-chip stocks</p><p><b>Judging from the performance of various style indexes, the probability that the main style indexes of the A-share market will close up in the five trading days before and after the Spring Festival is generally above 60%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed better before and after the holiday, and the number of rises was also much higher than the number of declines. Among them, the high P/E style index has a rising probability of more than 80% in the past 12 years in the five trading days before/after the Spring Festival.</p><p><b>Judging from the absolute value data of the ups and downs of each style index, around the Spring Festival, the style of high P/E is better than that of low P/E, the style of high-priced stocks is better than that of low-priced stocks, and the style of low-profit stocks is better than that of blue-chip stocks.</b>The median accumulated gains of high-P/E stock styles in the five trading days before/after the Spring Festival between 2010 and 2021 were 2.5% and 3.4%, respectively, better than the 1.9% and 0.6% of low-P/E stocks. The median accumulated gains of high-priced stock style in the five trading days before/after the Spring Festival in the past 10 years are 3.3% and 1.6% respectively, which is better than that of low-priced stocks of 1.1% and 2.4%. The median accumulated gains of loss-making stock style in the five trading days before/after the Spring Festival in the past 10 years are 2.3% and 4.2% respectively, which are better than the 2.5% and 0.6% of blue-chip 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>The Spring Festival is approaching, holding shares or holding coins</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Spring Festival is approaching, holding shares or holding coins\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>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold money or hold shares for the New Year. Therefore, this paper statistically reviews the performance of A-share market around the Spring Festival from 2010 to 2021 for investors' reference.</p><p><b>The effect of A-share Spring Festival is remarkable, and the probability of market rise before and after the holiday is high. In the past decade or so, the red envelope of Spring Festival in A-share market has obvious characteristics of low risk and high return.</b>From the perspective of increase, in the past 12 years, the average cumulative yield of wind All A in the five trading days before the Spring Festival is 1.9%, and the median is 2.6%, and the average cumulative yield in the five trading days after the Spring Festival is 1.4%, and the median is 1.8%. Moreover, the market performance during the Spring Festival over the years is obviously more stable than that of the whole year, that is to say, compared with the overall increase of the whole year, the market red envelopes during the Spring Festival have obvious characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and GEM Index performed better than the Shanghai Composite Index, and the small and medium-sized cap indexes such as CSI 500 and CSI 1000 were better than the heavyweight indexes such as SSE 50 and CSI 300.</b>From the perspective of increase, in the past 12 years, the median cumulative yields of the GEM index in the five trading days before/after the Spring Festival were 2.4% and 4.1% respectively, and the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative yield of the National Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival was 2.0% and 4.4% respectively, while the CSI 300 Index was 1.9% and 0.6%.</p><p><b>Judging from the performance of various industries, the first-level industries in Shenwan generally closed up with a high probability around the Spring Festival, and the nonferrous metals, electronics, computer and other sectors performed relatively well.</b>The non-ferrous metals sector posted a median gain of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, which was the best performer among all sectors. In the five trading days after the Spring Festival, the median cumulative increase is still the best performance of the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good.</p><p><b>Judging from the performance of each style index, each major style index also has a high probability of closing up around the Spring Festival, and the style of high P/E is better than that of low P/E, the style of high-priced stocks is better than that of low-priced stocks, and the style of low-profit stocks with losses is better than that of blue-chip stocks.</b>The median accumulated gains of high-P/E stock styles in the five trading days before/after the Spring Festival between 2010 and 2021 were 2.5% and 3.4%, respectively, better than the 1.9% and 0.6% of low-P/E stocks. The median accumulated gains of high-priced stock style in the five trading days before/after the Spring Festival in the past 10 years are 3.3% and 1.6% respectively, which is better than that of low-priced stocks of 1.1% and 2.4%. The median accumulated gains of loss-making stock style in the five trading days before/after the Spring Festival in the past 10 years are 2.3% and 4.2% respectively, which are better than the 2.5% and 0.6% of blue-chip stocks overall.</p><p>Risk: The macroeconomy is less than expected, overseas markets fluctuate greatly, and historical experience does not represent the future.</p><p>The text is as follows:</p><p>Holding shares or holding currencies, combing the market characteristics before and after the Spring Festival</p><p>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold money or hold shares for the New Year. Therefore, this paper reviews the performance of A-share market around the Spring Festival in the past ten years for investors' reference.</p><p>1. A-share Spring Festival effect is significant, and the probability of market rise before and after the holiday is high</p><p>A-share Spring Festival effect is significant, and the probability of market rise before and after the holiday is relatively high. We have summarized the performance of the yield before and after the Spring Festival from 2010 to 2021. Generally speaking, the performance of the A-share market before and after the Spring Festival is good in most cases, and the rising probability of major broad-based indexes is relatively high. In the past 12 years, in 9 years, the accumulated income of wind All A has risen in 5 trading days before and 5 trading days after the holiday, that is, the probability of increase is as high as 75%. In these 12 years, only 8 years of annual accumulated income of wind All A have been positive. Therefore, from the perspective of probability, there is indeed a significant Spring Festival effect in the performance of A-share market.</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>From the perspective of ups and downs, the Spring Festival red envelopes in the A-share market in the past decade or so have obvious characteristics of low risk and high return.</b>From the perspective of increase, in the past 12 years, the average cumulative yield of wind All A in the five trading days before the Spring Festival is 1.9%, and the median is 2.6%, and the average cumulative yield in the five trading days after the Spring Festival is 1.4%, and the median is 1.8%. And from the perspective of volatility, the market performance during the Spring Festival over the years is obviously more stable than that of the whole year, that is to say, compared with the overall increase of the whole year, the market red envelopes during the Spring Festival have obvious characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and GEM Index performed better than the Shanghai Composite Index, and the small and medium-sized cap indexes such as CSI 500 and CSI 1000 were better than the heavyweight indexes such as SSE 50 and CSI 300.</b>From the perspective of increase, in the past 12 years, the median cumulative yields of the GEM index in the five trading days before/after the Spring Festival were 2.4% and 4.1% respectively, and the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative yield of the National Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival was 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. Nonferrous, electronic and computer performance is relatively dominant</p><p><b>Judging from the performance of various industries, in the past 10 years, the cumulative closing probability of each first-level industry in Shenwan in the five trading days before and after the Spring Festival is generally above 50%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, the first-class industry of Shenwan performed better before and after the holiday, and the number of increases was much higher than the number of declines. Among them, the pharmaceutical and biological industry has all risen in the five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and a probability of rising as high as 92% in the five trading days after the Spring Festival. In addition, the probability of rising the electronic and electrical equipment industries in the five trading days before and after the holiday is also above 80%.</p><p><b>Judging from the absolute data of the ups and downs of various industries, the performance of nonferrous metals, electronics, computers and other sectors around the Spring Festival is relatively good, while the performance of the financial sector is relatively low.</b>The non-ferrous metals sector posted a median gain of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, which was the best performer among all sectors. In the five trading days after the Spring Festival, the median cumulative increase is still the best performance of the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good, while the financial sector performs relatively poorly in 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 blue-chip stocks</p><p><b>Judging from the performance of various style indexes, the probability that the main style indexes of the A-share market will close up in the five trading days before and after the Spring Festival is generally above 60%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed better before and after the holiday, and the number of rises was also much higher than the number of declines. Among them, the high P/E style index has a rising probability of more than 80% in the past 12 years in the five trading days before/after the Spring Festival.</p><p><b>Judging from the absolute value data of the ups and downs of each style index, around the Spring Festival, the style of high P/E is better than that of low P/E, the style of high-priced stocks is better than that of low-priced stocks, and the style of low-profit stocks is better than that of blue-chip stocks.</b>The median accumulated gains of high-P/E stock styles in the five trading days before/after the Spring Festival between 2010 and 2021 were 2.5% and 3.4%, respectively, better than the 1.9% and 0.6% of low-P/E stocks. The median accumulated gains of high-priced stock style in the five trading days before/after the Spring Festival in the past 10 years are 3.3% and 1.6% respectively, which is better than that of low-priced stocks of 1.1% and 2.4%. The median accumulated gains of loss-making stock style in the five trading days before/after the Spring Festival in the past 10 years are 2.3% and 4.2% respectively, which are better than the 2.5% and 0.6% of blue-chip 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":2119,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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":2625,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886539875,"gmtCreate":1631603311797,"gmtModify":1676530587333,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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/886539875","repostId":"2167535043","repostType":4,"repost":{"id":"2167535043","kind":"highlight","pubTimestamp":1631591227,"share":"https://ttm.financial/m/news/2167535043?lang=en_US&edition=fundamental","pubTime":"2021-09-14 11:47","market":"us","language":"zh","title":"US stocks also need to switch styles? JPMorgan Chase: Lightening technology, adding positions procyclically!","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 U.S. economic recovery slammed on the brakes, money poured into tech stocks for refuge, but<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>However, it is time to lighten your position in technology stocks.</p><p>Analysts such as Marko Kolanovic of JPMorgan Chase recently said that the market's panic about economic growth is somewhat excessive, and the drag of Delta variant virus on the economy may be only temporary. Investors should consider reducing their investment in technology stocks and increasing their holdings in cyclical industries sensitive to the economy such as energy.</p><p>Although the pace of global economic reopening has been delayed as the pandemic resurfaces, JPMorgan data shows that the outbreak caused by the Delta variant may have peaked and is receding in the U.S. and globally:</p><p>We expect reinflationary trading to outperform the broader market as the Delta impact recedes and inflation from supply disruptions and monetary easing persists. JPMorgan believes that bond yields and cyclical assets may have bottomed out early last month, while recommending an increase in Japanese and emerging market stocks.</p><p>JPMorgan Chase's judgment of the economy stands in stark contrast to 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. The bank expects that due to the rampant Delta virus, the weakening financial support of the government, and the shift of demand from goods to services, U.S. consumers may reduce spending, and the consumption situation is more severe than previously expected.</p><p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also sharply lowered the U.S. GDP forecast in the third quarter, from 6.5% to only 2.9%, and the GDP forecast in the fourth quarter remained at 6.7%. After revising the GDP forecast for the third quarter, Morgan Stanley's GDP growth rate for the United States this year is expected to be 5.6%, which is lower than the expected growth rate for the whole year after Goldman Sachs lowered this week.</p><p>Morgan Stanley said that the lowering of the expectation was mainly due to the fact that the driving force of economic growth had been released in advance, the government stimulus spending had reduced the promotion of the economy, and the supply chain bottleneck continued to drag down the economy, so consumer spending on large durable goods such as automobiles had decreased.</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>US stocks also need to switch styles? 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JPMorgan Chase: Lightening technology, adding positions procyclically!\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 U.S. economic recovery slammed on the brakes, money poured into tech stocks for refuge, but<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>However, it is time to lighten your position in technology stocks.</p><p>Analysts such as Marko Kolanovic of JPMorgan Chase recently said that the market's panic about economic growth is somewhat excessive, and the drag of Delta variant virus on the economy may be only temporary. Investors should consider reducing their investment in technology stocks and increasing their holdings in cyclical industries sensitive to the economy such as energy.</p><p>Although the pace of global economic reopening has been delayed as the pandemic resurfaces, JPMorgan data shows that the outbreak caused by the Delta variant may have peaked and is receding in the U.S. and globally:</p><p>We expect reinflationary trading to outperform the broader market as the Delta impact recedes and inflation from supply disruptions and monetary easing persists. JPMorgan believes that bond yields and cyclical assets may have bottomed out early last month, while recommending an increase in Japanese and emerging market stocks.</p><p>JPMorgan Chase's judgment of the economy stands in stark contrast to 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. The bank expects that due to the rampant Delta virus, the weakening financial support of the government, and the shift of demand from goods to services, U.S. consumers may reduce spending, and the consumption situation is more severe than previously expected.</p><p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also sharply lowered the U.S. GDP forecast in the third quarter, from 6.5% to only 2.9%, and the GDP forecast in the fourth quarter remained at 6.7%. After revising the GDP forecast for the third quarter, Morgan Stanley's GDP growth rate for the United States this year is expected to be 5.6%, which is lower than the expected growth rate for the whole year after Goldman Sachs lowered this week.</p><p>Morgan Stanley said that the lowering of the expectation was mainly due to the fact that the driving force of economic growth had been released in advance, the government stimulus spending had reduced the promotion of the economy, and the supply chain bottleneck continued to drag down the economy, so consumer spending on large durable goods such as automobiles had decreased.</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":2849,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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,"repost":{"id":"2167539748","kind":"highlight","pubTimestamp":1631597712,"share":"https://ttm.financial/m/news/2167539748?lang=en_US&edition=fundamental","pubTime":"2021-09-14 13:35","market":"us","language":"zh","title":"GoPro, which holds up half of the sports, can still eat all over the world with one trick?","url":"https://stock-news.laohu8.com/highlight/detail?id=2167539748","media":"雷科技","summary":"喝最冷的红牛，拍最酷的镜头。","content":"<p>With the \"I pay, you pay\" philosophy and all kinds of fancy challenge advertisements, Red Bull, a beverage company that was originally just \"selling sugar water\" in Europe, has become half the sky in the outdoor sports market. From double boarding to skydiving to F1 racing or aerobatics, we always see the Red Bull LOGO in these adrenaline-fueling sports. So the question is, since Red Bull supports half of extreme sports, who will support the other half?<img src=\"https://static.tigerbbs.com/c686f633943c97407bf4f28447111c4f\" tg-width=\"1080\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In my opinion, this position lets the action camera brand<a href=\"https://laohu8.com/S/GPRO\">GoPro</a>It is well deserved to come and sit.</p><p><h2>GoPro defines action cameras</h2>GoPro was first born in 2004. At that time, Nick Woodman, an American boy under the age of 30, developed his first action camera with the support of his parents because he couldn't find a good-quality and affordable camera to shoot himself surfing. No one expected that this seemingly \"I love to invent\" action camera concept would suddenly impress extreme sports enthusiasts around the world.</p><p><img src=\"https://static.tigerbbs.com/d108fda3d2509c32cc94c19035cbe1a8\" tg-width=\"1080\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p>With action cameras as the core, in more than ten years of development, GoPro has successfully built GoPro Hero, a world-famous action camera brand. With the vigorous support of outdoor sports enthusiasts all over the world, GoPro has also been promoted from a small family-sponsored brand to a NASDAQ-listed company with a market value of $1.471 billion.</p><p>This kind of market performance can't help but make people suspicious: everyone says that the camera market is shrinking year by year. Why can GoPro, which focuses on segmented fields, go upstream and establish its unshakable position in the field of action cameras with a single product line?</p><p><h2>Start with the athlete, empower the athlete</h2>First of all, GoPro is a very clearly positioned product. Just like game peripheral brands<a href=\"https://laohu8.com/S/01337\">Razer</a>Like the slogan \"For Gamers. By Gamers.\" GoPro was also born from athletes, or surfers. As a target user in this field, Nick Woodman knows what kind of action camera he needs and other surfers need, which naturally allows GoPro to reach users' pain points directly.</p><p>At the same time, focusing on segments is also the reason why GoPro can gain a firm foothold in the shrinking wave of the camera market. Unlike other camera brands that cast a wide net, GoPro has focused on the highly segmented professional field of action cameras for the past decade or so. Although the mass consumption field can bring a larger potential user group to brands, it is difficult for brands to cultivate the consumption habits of massive users at the same time.</p><p><img src=\"https://static.tigerbbs.com/884409df3570d4553b8c7bf10a6e63f5\" tg-width=\"1080\" tg-height=\"783\" referrerpolicy=\"no-referrer\">Instead of letting everyone GoPro come back to record their lives, it is better to target it to professional users. The high threshold of action cameras filters out the potential competitors of GoPro, and the \"record\" behind action cameras just needs to provide a huge market for GoPro. Unlike mass consumers, professional users have higher brand loyalty when purchasing sports accessories, which also allows GoPro to stabilize its basic market while the camera market shrinks.</p><p>But this is not the main reason why GoPro can go all the way to the present. In my opinion, what really laid the foundation of GoPro's \"half of the country\" is GoPro's marketing. Just like Red Bull, in order to increase exposure, GoPro goes out of its way to get on every occasion that brings exposure. The GoPro character and four-color square logo also appeared in the north and south of the country along with athletes, strengthening the public's awareness of GoPro's \"sports\" brand.<img src=\"https://static.tigerbbs.com/30ec9060d44a4d58edabdc3165ce38c8\" tg-width=\"1080\" tg-height=\"489\" referrerpolicy=\"no-referrer\">Just like Red Bull with LOGO as a totem, whether in the French Alps or the Grand Canyon of the United States, the pattern composed of four blue squares can bring high recognition to GoPro, so that people can know at a glance that this person is a GoPro user and uses GoPro products. In order to further expand the popularity of its products, GoPro has even started to cooperate with some well-known sports competitive games. Even in<a href=\"https://laohu8.com/S/SNE\">Sony</a>In the GT racing car of the racing game launched by the first party, you can still find GoPro's authorized latte art stickers with the familiar four-color squares.</p><p>Accurate user demand analysis, excellent product quality and excellent global marketing, all three indispensable elements have jointly created GoPro's sports business empire.</p><p><h2>GoPro's Crisis</h2>Although GoPro has lived a life of \"food and clothing\" in the past ten years, judging from GoPro's many layoffs in the past, GoPro also has its own difficulties to face. First of all, GoPro's success is based on the segmented professional camera field and marketing. Although this can stand a foothold when the market changes, if the changes in the needs of general users drive the professional market, so that professional users need to produce content according to the preferences of mass users, it will challenge the foundation on which GoPro depends.</p><p>Although GoPro still has a special dominant position in the field of professional cameras, in the era of short videos, a large number of non-professional users poured into the video field, making GoPro, which was originally \"high and low\", suddenly enter the public view. In addition to a large number of non-professional users, mass consumer brands that were not valued by professional users in the past, as well as new content presentation methods related to them, such as stabilizers, 360-degree cameras, and most importantly-DJI drones, have entered the video field together.<img src=\"https://static.tigerbbs.com/038aba48e608321be72c480040f01ddc\" tg-width=\"1080\" tg-height=\"713\" referrerpolicy=\"no-referrer\">A series of consumer drones led by DJI mini 2 have brought a great impact to the former sports photography market: in the past, athletes wanted to get aerial perspective, and sharing a small helicopter for shooting was the only way. However, driven by brands such as DJI, consumer drones have become another magic weapon for athletes to shoot besides GoPro. Different from GoPro with fixed viewing angle, drone shooting not only does not need to hold a selfie stick by yourself, but also brings a new angle to the video, making it more flexible to use.</p><p>Faced with DJI's challenge, GoPro actually came up with its own drone system: in September 2016, GoPro released the brand's first consumer drone product-GoPro Karma. Karma is priced similarly to DJI's Mavic Pro, and with GoPro's excellent reputation, Karma should have been the best time for GoPro to enter the drone market. But Karma was recalled shortly after launch due to a power outage problem with the product. And because Karma's performance in terms of experience and accessories is far from that of Mavic Pro, it is more of a \"GoPro in the air\" than a drone, and Karma's market performance has been sluggish for a long time. The Karma division bore the brunt of GoPro's layoff plan in 2018.</p><p><h2>sum up</h2>Although GoPro's performance in other fields is not outstanding, with its identity as a professional action camera, GoPro still has an unshakable influence in the field of professional sports. Regardless of price, difficulty of getting started, or policy environment, the market of action cameras is always much larger than that of drones. Even if Karma has a bad start, GoPro Hero, an ace product, can still bring enough exposure to GoPro. After all, when it comes to action cameras, the first thing that comes to mind for most people is GoPro.</p><p><img src=\"https://static.tigerbbs.com/62c92146b28a44092676d4f9b178852d\" tg-width=\"1080\" tg-height=\"1055\" referrerpolicy=\"no-referrer\">However, under the impact of dimensionality reduction from drones or various wearable cameras, it is still unknown whether GoPro can stabilize the market. The shortcomings of wearable cameras are picture quality, while the shortcomings of drones are difficulty and policy space. If these two problems are solved, GoPro in the future will likely be surpassed by DJI. And the four-color square logo that GoPro is proud of may only exist on the sports field in the form of sticker latte art by then.</p>","source":"36kr_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GoPro, which holds up half of the sports, can still eat all over the world with one trick?</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\">\nGoPro, which holds up half of the sports, can still eat all over the world with one trick?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">雷科技</strong><span class=\"h-time small\">2021-09-14 13:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>With the \"I pay, you pay\" philosophy and all kinds of fancy challenge advertisements, Red Bull, a beverage company that was originally just \"selling sugar water\" in Europe, has become half the sky in the outdoor sports market. From double boarding to skydiving to F1 racing or aerobatics, we always see the Red Bull LOGO in these adrenaline-fueling sports. So the question is, since Red Bull supports half of extreme sports, who will support the other half?<img src=\"https://static.tigerbbs.com/c686f633943c97407bf4f28447111c4f\" tg-width=\"1080\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In my opinion, this position lets the action camera brand<a href=\"https://laohu8.com/S/GPRO\">GoPro</a>It is well deserved to come and sit.</p><p><h2>GoPro defines action cameras</h2>GoPro was first born in 2004. At that time, Nick Woodman, an American boy under the age of 30, developed his first action camera with the support of his parents because he couldn't find a good-quality and affordable camera to shoot himself surfing. No one expected that this seemingly \"I love to invent\" action camera concept would suddenly impress extreme sports enthusiasts around the world.</p><p><img src=\"https://static.tigerbbs.com/d108fda3d2509c32cc94c19035cbe1a8\" tg-width=\"1080\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p>With action cameras as the core, in more than ten years of development, GoPro has successfully built GoPro Hero, a world-famous action camera brand. With the vigorous support of outdoor sports enthusiasts all over the world, GoPro has also been promoted from a small family-sponsored brand to a NASDAQ-listed company with a market value of $1.471 billion.</p><p>This kind of market performance can't help but make people suspicious: everyone says that the camera market is shrinking year by year. Why can GoPro, which focuses on segmented fields, go upstream and establish its unshakable position in the field of action cameras with a single product line?</p><p><h2>Start with the athlete, empower the athlete</h2>First of all, GoPro is a very clearly positioned product. Just like game peripheral brands<a href=\"https://laohu8.com/S/01337\">Razer</a>Like the slogan \"For Gamers. By Gamers.\" GoPro was also born from athletes, or surfers. As a target user in this field, Nick Woodman knows what kind of action camera he needs and other surfers need, which naturally allows GoPro to reach users' pain points directly.</p><p>At the same time, focusing on segments is also the reason why GoPro can gain a firm foothold in the shrinking wave of the camera market. Unlike other camera brands that cast a wide net, GoPro has focused on the highly segmented professional field of action cameras for the past decade or so. Although the mass consumption field can bring a larger potential user group to brands, it is difficult for brands to cultivate the consumption habits of massive users at the same time.</p><p><img src=\"https://static.tigerbbs.com/884409df3570d4553b8c7bf10a6e63f5\" tg-width=\"1080\" tg-height=\"783\" referrerpolicy=\"no-referrer\">Instead of letting everyone GoPro come back to record their lives, it is better to target it to professional users. The high threshold of action cameras filters out the potential competitors of GoPro, and the \"record\" behind action cameras just needs to provide a huge market for GoPro. Unlike mass consumers, professional users have higher brand loyalty when purchasing sports accessories, which also allows GoPro to stabilize its basic market while the camera market shrinks.</p><p>But this is not the main reason why GoPro can go all the way to the present. In my opinion, what really laid the foundation of GoPro's \"half of the country\" is GoPro's marketing. Just like Red Bull, in order to increase exposure, GoPro goes out of its way to get on every occasion that brings exposure. The GoPro character and four-color square logo also appeared in the north and south of the country along with athletes, strengthening the public's awareness of GoPro's \"sports\" brand.<img src=\"https://static.tigerbbs.com/30ec9060d44a4d58edabdc3165ce38c8\" tg-width=\"1080\" tg-height=\"489\" referrerpolicy=\"no-referrer\">Just like Red Bull with LOGO as a totem, whether in the French Alps or the Grand Canyon of the United States, the pattern composed of four blue squares can bring high recognition to GoPro, so that people can know at a glance that this person is a GoPro user and uses GoPro products. In order to further expand the popularity of its products, GoPro has even started to cooperate with some well-known sports competitive games. Even in<a href=\"https://laohu8.com/S/SNE\">Sony</a>In the GT racing car of the racing game launched by the first party, you can still find GoPro's authorized latte art stickers with the familiar four-color squares.</p><p>Accurate user demand analysis, excellent product quality and excellent global marketing, all three indispensable elements have jointly created GoPro's sports business empire.</p><p><h2>GoPro's Crisis</h2>Although GoPro has lived a life of \"food and clothing\" in the past ten years, judging from GoPro's many layoffs in the past, GoPro also has its own difficulties to face. First of all, GoPro's success is based on the segmented professional camera field and marketing. Although this can stand a foothold when the market changes, if the changes in the needs of general users drive the professional market, so that professional users need to produce content according to the preferences of mass users, it will challenge the foundation on which GoPro depends.</p><p>Although GoPro still has a special dominant position in the field of professional cameras, in the era of short videos, a large number of non-professional users poured into the video field, making GoPro, which was originally \"high and low\", suddenly enter the public view. In addition to a large number of non-professional users, mass consumer brands that were not valued by professional users in the past, as well as new content presentation methods related to them, such as stabilizers, 360-degree cameras, and most importantly-DJI drones, have entered the video field together.<img src=\"https://static.tigerbbs.com/038aba48e608321be72c480040f01ddc\" tg-width=\"1080\" tg-height=\"713\" referrerpolicy=\"no-referrer\">A series of consumer drones led by DJI mini 2 have brought a great impact to the former sports photography market: in the past, athletes wanted to get aerial perspective, and sharing a small helicopter for shooting was the only way. However, driven by brands such as DJI, consumer drones have become another magic weapon for athletes to shoot besides GoPro. Different from GoPro with fixed viewing angle, drone shooting not only does not need to hold a selfie stick by yourself, but also brings a new angle to the video, making it more flexible to use.</p><p>Faced with DJI's challenge, GoPro actually came up with its own drone system: in September 2016, GoPro released the brand's first consumer drone product-GoPro Karma. Karma is priced similarly to DJI's Mavic Pro, and with GoPro's excellent reputation, Karma should have been the best time for GoPro to enter the drone market. But Karma was recalled shortly after launch due to a power outage problem with the product. And because Karma's performance in terms of experience and accessories is far from that of Mavic Pro, it is more of a \"GoPro in the air\" than a drone, and Karma's market performance has been sluggish for a long time. The Karma division bore the brunt of GoPro's layoff plan in 2018.</p><p><h2>sum up</h2>Although GoPro's performance in other fields is not outstanding, with its identity as a professional action camera, GoPro still has an unshakable influence in the field of professional sports. Regardless of price, difficulty of getting started, or policy environment, the market of action cameras is always much larger than that of drones. Even if Karma has a bad start, GoPro Hero, an ace product, can still bring enough exposure to GoPro. After all, when it comes to action cameras, the first thing that comes to mind for most people is GoPro.</p><p><img src=\"https://static.tigerbbs.com/62c92146b28a44092676d4f9b178852d\" tg-width=\"1080\" tg-height=\"1055\" referrerpolicy=\"no-referrer\">However, under the impact of dimensionality reduction from drones or various wearable cameras, it is still unknown whether GoPro can stabilize the market. The shortcomings of wearable cameras are picture quality, while the shortcomings of drones are difficulty and policy space. If these two problems are solved, GoPro in the future will likely be surpassed by DJI. And the four-color square logo that GoPro is proud of may only exist on the sports field in the form of sticker latte art by then.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1397039284075522\">雷科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d108fda3d2509c32cc94c19035cbe1a8","relate_stocks":{"GPRO":"GoPro"},"source_url":"https://36kr.com/p/1397039284075522","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167539748","content_text":"凭借着「我出钱、你出命」一样的宣传理念以及各种花式整活的挑战广告，红牛这个本来只是欧洲「卖糖水」的饮料公司已经成为了户外运动市场的半边天。从双板滑雪到高空跳伞，再到F1赛车或者特技飞行，在这些激发肾上腺素的运动项目中，我们总能看到红牛的LOGO。那么问题来了，既然红牛撑起了极限运动的半壁江山，那另外一半又是由谁来支撑的呢？\n在我看来，这个位置让运动相机品牌GoPro来坐可以说当之无愧。\nGoPro定义了运动相机\nGoPro最早诞生于2004年，当时30岁不到的美国小伙尼克·伍德曼（Nick Woodman）因为找不到物美价廉的相机拍摄自己冲浪，在父母的资助下开发出了第一款自己的运动相机。谁也没想到这个看似「我爱发明」的运动相机理念一下子打动了全球极限运动爱好者。\n\n以运动相机为核心，在十余年的发展中，GoPro成功打造了GoPro Hero这一闻名世界的运动相机品牌，在全球户外运动爱好者的大力捧场下，GoPro也从曾经的家庭资助小品牌晋升成了市值14.71亿美元的纳斯达克上市企业。\n这样的市场表现不禁让人生疑：大家都说相机市场正逐年萎缩，为什么专注于细分领域的GoPro可以逆流而上，凭借单一产品线奠定自己在运动相机领域难以动摇的地位呢？\n始于运动员，赋予运动员\n首先，GoPro是一款定位非常明确的产品。就像游戏周边品牌雷蛇的口号「始于玩家、赋予玩家」(For Gamers. By Gamers.)说的一样，GoPro也同样诞生于运动员，或者说冲浪玩家的手中。作为该领域的目标用户，尼克·伍德曼深知自己需要以及其他冲浪爱好者需要的是怎样一款运动相机，自然可以让GoPro直达用户痛点。\n同时，专注于细分领域也是GoPro能在相机市场萎缩浪潮中站稳脚步的原因。不同于其他广撒网的相机品牌，GoPro在过去十余年里专注于运动相机这一个高度细分的专业领域。大众消费领域虽然可以为品牌带来更大的潜在用户群体，但品牌很难同时培养海量用户的消费习惯。\n与其让所有人都GoPro回来记录生活，倒不如面向专业用户定向推广。运动相机的高门槛过滤掉了GoPro的潜在竞争者，运动相机背后的「记录」刚需为GoPro提供了巨大的市场。与大众消费者不同，专业用户在选购运动配件时有着更高的品牌忠诚度，这也让GoPro在相机市场萎缩的同时得以稳住自己的基本盘。\n但这都不是GoPro可以一路走到现在的最主要原因。在我看来，真正奠定GoPro「半壁江山」的，还是GoPro的营销。就像红牛一样，为了增加曝光，GoPro想尽办法登上一切能带来曝光度的场合。GoPro字样与四色方块的标志也随着运动员一起，出现在大江南北，强化大众对GoPro「运动」品牌的认知。就像以LOGO作图腾的红牛一样，无论在法国阿尔卑斯山，还是在美国的大峡谷，四个蓝色方块构成的图案都能为GoPro带来极高的辨识度，让人一看就知道这个人是GoPro用户，用的是GoPro产品。为了进一步扩大产品的知名度，GoPro甚至开始与部分知名的运动竞技游戏合作。即使在索尼第一方推出的竞速游戏的GT赛车中，你依旧可以凭借熟悉的四色方块找到GoPro的授权拉花贴纸。\n精准的用户需求探析、过硬的产品质量与出色的全球营销，缺一不可的三种元素共同缔造了GoPro的运动商业帝国。\nGoPro的危机\n尽管GoPro在过去十余年里过着「衣食无忧」的生活，但从GoPro过去多次裁员来看，GoPro也有着自己要面对的困难。首先，GoPro的成功建立在细分的专业相机领域和市场营销，这虽然可以在市场变动时站住脚，但如果一般用户的需求变化带动了专业市场，让专业用户需要跟着大众用户的喜好来生产内容，这将对GoPro赖以生存的根基发起挑战。\n尽管GoPro在专业相机领域依然有着特殊的主导地位，但在短视频时代，非专业用户大量涌入视频领域，让原本「曲高和寡」的GoPro一下子进入到大众视野中。除了大量非专业用户，一同进入视频领域的还有过去并不被专业用户所重视的大众消费品牌，以及与之相关的全新内容呈现方式，比如稳定器、360度摄像头，以及最重要的——大疆无人机。以DJI mini 2为首的一系列消费级无人机给曾经的运动摄影市场带来了极大的冲击：过去运动员想获得航拍视角，合租小型直升机进行拍摄是唯一的办法。但在大疆等品牌的推动下，消费级无人机已经成为了GoPro之外，运动员拍摄的又一法宝。不同于固定视角的GoPro，无人机拍摄不但无需自己举着自拍杆，同时还能给视频带来全新的角度，使用起来也更加灵活。\n面对大疆的挑战，GoPro其实也拿出了自己的无人机系统：2016年9月，GoPro发布了品牌首款消费级无人机产品——GoPro Karma。karma定价与大疆的Mavic Pro类似，凭借GoPro的出色口碑，Karma本应是GoPro进入无人机市场的最好时机。但由于产品存在断电问题，Karma在上市不久后就被召回。且由于Karma在体验、配件等方面表现与Mavic Pro相差甚远，更多地还是一个「空中的GoPro」而不是一个无人机，Karma的市场表现长期萎靡。在2018年GoPro的裁员计划中，Karma部门首当其冲。\n总结\n尽管在其他领域GoPro的表现不算出色，但凭借其专业运动相机的身份，GoPro在专业运动领域依旧有着难以撼动的影响力。无论从价格还是上手难度，抑或是政策环境来看，运动相机的市场始终比无人机要大得多。即使Karma出师不利，GoPro Hero这一王牌产品依旧能给GoPro带来足够多的曝光度。毕竟提到运动相机，绝大多数人首先想到的就是GoPro。\n但在来自无人机或各类可穿戴相机的降维打击下，GoPro能否稳住市场还是一个未知数。可穿戴相机的短板在画质，而无人机的短板在上手难度与政策空间。要是这两个问题得以解决，那未来的GoPro，很可能会被大疆超越。而GoPro引以为豪的四色方块标志，到那时候可能只能以贴纸拉花的形式存在于运动场上了。","news_type":1,"symbols_score_info":{"GPRO":0.9}},"isVote":1,"tweetType":1,"viewCount":1205,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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 starts its IPO today with an admission fee of HK$8080.62","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 14th, Chuangsheng Group-B announced that it will issue an IPO from September 14th to 17th. The company plans to issue 40.33 million shares, including 4.033 million shares for public offering and 36.297 million shares for international offering, with an issue price of HK$15.8-16.0 per share and 500 shares per lot. It is expected to be listed on September 29th.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>Each lot of 500 shares, the entrance fee is HK$8080.62.</p><p>The threshold of Group B is 400,000 shares, and the funds required for subscription are about HK$ 6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">For cornerstone investors, a number of cornerstone investors agreed to subscribe for the number of Offer Shares available at the Offer Price, totaling approximately US$68 million, including LAV, Temasek, QIA, China State-owned Enterprise Structural Adjustment Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, 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, mainly pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>The Company was not profitable and incurred operating losses during the Track Record Period. In 2019, 2020 and the first three months of 2021, the Company achieved revenue of RMB44.14 million, RMB80.98 million and RMB7.883 million, and recorded total comprehensive expenses of RMB438 million, RMB320 million and RMB71 million for the same periods, respectively.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">In terms of financing, the net proceeds of the company were 571 million yuan (assuming that the over-allotment option was not exercised, calculated by the median issue price). According to the prospectus, the Company intends to use the net proceeds from the Share Offer for the following purposes: 82% for the research and development of the Company's pipeline product candidates, funding for ongoing and planned clinical and preclinical trials, preparation for registration and filing, and other steps or activities related to the commercialization of the Company's four flagship products; 8% is used to fund business development for pipeline expansion and technology development; 10% is used 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 the nine drug candidates, covering validated, partially validated and novel biological pathways.</p><p>Among them, the core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company has submitted a Phase 1 end-of-analysis report to the NMPA in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002), a humanized sclerostin monoclonal antibody candidate for the treatment of osteoporosis, which was authorized to introduce the drug in Greater China from Eli Lilly in 2019.</p><p>It is worth noting that the company is supported by world-renowned strategic investors and professional funds focused on biotechnology<b>Shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Structural Adjustment 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 starts its IPO today with an admission fee of HK$8080.62</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 starts its IPO today with an admission fee of HK$8080.62\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 14th, Chuangsheng Group-B announced that it will issue an IPO from September 14th to 17th. The company plans to issue 40.33 million shares, including 4.033 million shares for public offering and 36.297 million shares for international offering, with an issue price of HK$15.8-16.0 per share and 500 shares per lot. It is expected to be listed on September 29th.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>Each lot of 500 shares, the entrance fee is HK$8080.62.</p><p>The threshold of Group B is 400,000 shares, and the funds required for subscription are about HK$ 6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">For cornerstone investors, a number of cornerstone investors agreed to subscribe for the number of Offer Shares available at the Offer Price, totaling approximately US$68 million, including LAV, Temasek, QIA, China State-owned Enterprise Structural Adjustment Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, 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, mainly pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>The Company was not profitable and incurred operating losses during the Track Record Period. In 2019, 2020 and the first three months of 2021, the Company achieved revenue of RMB44.14 million, RMB80.98 million and RMB7.883 million, and recorded total comprehensive expenses of RMB438 million, RMB320 million and RMB71 million for the same periods, respectively.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">In terms of financing, the net proceeds of the company were 571 million yuan (assuming that the over-allotment option was not exercised, calculated by the median issue price). According to the prospectus, the Company intends to use the net proceeds from the Share Offer for the following purposes: 82% for the research and development of the Company's pipeline product candidates, funding for ongoing and planned clinical and preclinical trials, preparation for registration and filing, and other steps or activities related to the commercialization of the Company's four flagship products; 8% is used to fund business development for pipeline expansion and technology development; 10% is used 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 the nine drug candidates, covering validated, partially validated and novel biological pathways.</p><p>Among them, the core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company has submitted a Phase 1 end-of-analysis report to the NMPA in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002), a humanized sclerostin monoclonal antibody candidate for the treatment of osteoporosis, which was authorized to introduce the drug in Greater China from Eli Lilly in 2019.</p><p>It is worth noting that the company is supported by world-renowned strategic investors and professional funds focused on biotechnology<b>Shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Structural Adjustment 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-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":1087,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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":"Theme park, Bubble Mart can play understand?","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<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the opening, there was a wind of theme park construction in China. Happy Valley, Wanda Park, Huaqiang Fantawild, Chimelong... all had to gesture with Disney.</p><p>Now, five years later, Shanghai Disney is still crowded. Beijing Universal Studios is about to open lively, Wanda Park changes hands with Sunac, Legoland,<a href=\"https://laohu8.com/S/SNE\">Sony</a>More theme parks, such as parks, are eyeing the Chinese market... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Bubble Mart</a>It also joined the war situation and set up a wholly-owned subsidiary, Beijing Bubble Mart Paradise Management Co., Ltd., to continue to expand its IP territory.</p><p>However, only those IPs in the blind box obviously won't do. We helped Bubble Mart figure out what else they need 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 plot of land</b></p><p>To build a theme park, you must first have a plot of land.</p><p>Many domestic amusement park operators, such as OCT, Sunac and previously Wanda, are real estate developers, and they have natural advantages in land planning. Therefore, Happy Valley, Sunac Paradise, etc. all take the route of \"tourism + real estate\".</p><p>In order to successfully acquire land, Shanghai Disney and Beijing Universal Studios both chose to cooperate with local governments and real estate developers. In addition to the more Chinese and Western operation mode, the operation idea is still \"tourism + real estate\".</p><p>From the perspective of specific regional selection, at present, Shanghai Disney and Beijing Universal Studios are in strong areas (Pudong New Area and Tongzhou) with better geographical and transportation advantages in their respective cities. It is difficult for latecomers, such as Legoland, to get better land, and they can only succumb to sub-optimal areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Huaqiang Fantawild, Sunac, Songcheng, Chimelong and other paradises gave up the relatively competitive first-and second-tier cities from the beginning, and chose to give full play to their expertise in their own advantageous areas.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamy merry-go-rounds, huge castles, realistic 4D technology... These have all become \"standard\" in theme parks, and these entertainment facilities and corresponding visual presentation technologies have been updated and iterated.</p><p>The collision of new and old technologies can be clearly felt at Universal Studios Beijing.</p><p>A Bilibili Up owner who went to punch in said that the Minions' experience was many notches higher than that of Harry Potter.</p><p>It is reported that the Minion section uses the latest 4D presentation technology, and the image quality is high-definition. However, \"Harry Potter's Forbidden Tour\" still uses the presentation technology of the first Harry Potter theme park in Universal Studios Orlando in 2007, and the picture is very blurry.</p><p>In terms of entertainment facilities and presentation technology, Huaqiang Fantawild can be regarded as one of the domestic enterprises with strong voice. Thanks to starting with selling special film equipment, the founder of Huaqiang Fantawild once said in the media: \"We all have Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This is an important opportunity for Huaqiang Fantawild to gradually transform from indoor amusement facilities into outdoor theme parks, and it also makes 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 reported that Huaqiang Fantawild sets up theme parks mainly through cooperation with various investors for investment and construction. Huaqiang Fantawild provides special equipment and installation services, special effect engineering construction services or engineering management services.</p><p>However, the operators of theme parks such as OCT, Sunac and Chimelong, which already have real estate operation capabilities, can only choose third-party cooperation to introduce equipment and technology.</p><p><b>Mature IP and operational capabilities</b></p><p>This is a top priority for theme parks.</p><p>Most of the IPs owned by Disney and Universal Studios have formed some kind of cultural symbol, which has 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 languages), and they are usually proud to highlight their unique fan characteristics, which gives more room for development around the corresponding IP.</p><p>What fan would go to Universal's Harry Potter Forbidden Tour without buying a magic wand and drinking a butter beer? Which fan will be willing to leave empty-handed when he sees the Storm Soldier's helmet when he goes to Disney Mall?</p><p>What's more, most of these IPs have been accumulated for decades, and they have been constantly introduced in the story content to cater to the appetite of new and old fans, which has had a huge influence on several generations, and these influences have given birth to the strong spending power of tourists visiting theme parks.</p><p>But these alone are not enough. The soul of the theme park is to make these IPs \"live\" in the park and bring tourists a realistic immersive experience.</p><p>Disney has always been famous for its dreams, because this is a fairy tale kingdom, in which all fairy tale characters are vivid, they will greet and interact with tourists, and they will also say some narration that conforms to \"personality\". When you walk into the park, you will feel happy from the bottom of your heart. This appeal is something that many domestic theme parks have never had before.</p><p>Universal Studios is not far behind. Some netizens said that when you come to Harry Potter's taboo tour and want to find a charging treasure, the staff will tell you, \"That's for Muggles, and we don't have it here.\"</p><p>A wave of the induction wand will produce scene changes, crying myrtle in the toilet…all important designs to increase the sense of experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>To present these IPs as authentically as possible, we benefit from the model of \"Chinese main investment + American main operation\" of Shanghai Disney and Beijing Universal Studios.</p><p>Shanghai Disney is jointly invested by Shendi Group and Disney to set up three enterprises, two of which are owner companies and the third is a management company.</p><p>Just like the management model of the hotel, the management company established by both parties accepts the entrustment of the owner's company and is responsible for the creativity, design, development and daily operation management of the project. This is also the first time in an overseas park invested by Disney.</p><p>Beijing Universal Studios also borrows from this model, which is composed of Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (\"Shouhuan Investment\") and Universal Theme Company and Resort (<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>Business segments under NBC Universal), with equity percentages of 70% and 30%.</p><p>The advantage of this is that, as the holder of IP, the US side better understands the true value of IP, so that it can maximize these values.</p><p>Back to domestic theme parks, they are somewhat skillful in IP operation.</p><p>OCT and Sunac basically adopt the way of cooperating with mature IP in China, which is more like putting IP OEM on their own amusement facilities or staff, so as to attract the audience of a certain IP to come and play.</p><p>For example, Nanjing Happy Valley, which opened last year, is bound to the IP of Little Yellow Duck. In Nanjing, where \"no duck can swim out\", this IP is certainly very popular and accurate in positioning.</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, it is still not easy to create an excellent immersion. After all, experience is a feeling that is both individual and subtle.</p><p>Located on the edge of Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>In the movie world, there are many Huayi Brothers movie IP such as If You Are the One, Di Renjie's Tongtian Empire and Tai Chi, but in terms of IP operation-many projects have no real scene but no interaction, which neither brings a real immersive experience to consumers nor increases user stickiness, leaving only monotonous photo shoots, and finally the door is left in the cold.</p><p>Huaqiang Fantawild has certain uniqueness and originality in the operation of its own IP and theme parks, and \"<b>Travel + Real Estate</b>\"Different models, Huaqiang Fantawild's strategy is\"<b>Culture + Technology</b>\", take the route of content being king.</p><p>But it is doomed to be a very difficult road to keep up with Disney.</p><p>In the past ten years, Huaqiang Fantawild has created more than 30 own IPs, and the only real household name is Bear Infestation. However, this 8-year-old IP didn't bring much grace to Huaqiang Fantawild's theme park.</p><p>The reason is that the main audience of Bears is children, but the target consumers of theme parks are young people aged 20-30. IP aging, target crowd misalignment, and attractiveness decrease naturally make the realization of theme parks even weaker.</p><p>Huaqiang Fantawild hopes to create an IP for higher age groups, so it took five years to launch the fantasy animation film \"City of Terracotta\".</p><p>The film was released this summer, and the box office was miserable-although the special effects are good, the plot and character creation \"pull the crotch\", and the setting of national style elements such as Terracotta Warriors and Horses, the Classic of Mountains and Seas is too confusing, and many explosive elements of Pixar and Disney animated movies have been \"brought\"...</p><p>Children may not understand that in front of well-informed adult consumers, the self-proclaimed originality of \"City of Terracotta\" makers is like a joke.</p><p><b>The blessing of theme parks is yet to come</b></p><p>Theme parks belong to the asset-heavy operation mode, and the remaining theme parks that are still in business today are all the products of the big waves in the past decade.</p><p>According to statistics, within ten years since Shanghai Disney announced its construction, 80% of theme parks have closed down successively, such as the famous Oriental Paradise, \"Tiangong Tribe\" and Orange Island Beach Park.</p><p>According to previous reports, around 2016, there were about 300 domestic theme parks with an investment of more than 50 million yuan, 70% of which were at a loss, 20% were flat, and only 10% were profitable. About 150 billion yuan was stuck in the investment of theme parks.</p><p>Nowadays, theme parks have gradually gotten rid of the state of barbaric growth at that time, and began to move towards the development path of scientific planning and IP operation, and their operation is on the right track.</p><p>According to the financial report of the first half of this year, the comprehensive tourism business of OCT achieved revenue of 18.922 billion yuan and gross profit of 4.685 billion yuan, up by 89.93% and 24.98% year-on-year respectively. The Company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas and 1 tourist performing arts station received a total of 28.482 million tourists, recovering to 160% of the same period in 2019.</p><p>The performance of Sunac's cultural tourism sector is also growing rapidly. In the first half of this year, the operating income was 2.61 billion yuan, a year-on-year increase of 166%; Passenger traffic reached 72.01 million, representing a year-on-year increase of 103%.</p><p>Although Huaqiang Fantawild has its own troubles, the operating income of theme parks in the first half of this year was 1.789 billion yuan, a year-on-year increase of 37.37%. In addition, in the first half of 2021, the visitor reception of Fantawild Theme Park has recovered to nearly 90% of the same period in 2019.</p><p>These achievements also benefited from the \"retaliatory\" travel and consumption of consumers after the epidemic. In addition, consumers' consumption mentality has also changed a little-whether it's playing, shopping or dining, they all pursue novel and fun offline experiences, which is an excellent opportunity for theme parks.</p><p>Therefore,<b>It becomes extra important to constantly bring freshness to consumers. Differentiated positioning, updating and iterating equipment, and upgrading technology... These have all become eternal topics and the focus of investment of theme park operators.</b></p><p>Now, if you want to enter the theme park, there are more and more problems that latecomers need to solve.</p><p>Take Bubble Mart as an example. Its brand audience is mostly trendy consumers in first-and second-tier cities, so the site selection of the park is bound to be limited to this range, and the cost will inevitably increase greatly;</p><p>In terms of the reserve of facilities and technologies in the park, Bubble Mart may only adopt the supplier cooperation system, and it is impossible to research and develop independently. Even if it is self-researched, it is not as good as its predecessors with years of experience;</p><p>In the operation of its own IP, Bubble Mart's IP is mostly in the initial stage of development-that is, there is only a simple IP image, with no story and connotation behind it. Disney and Universal Studios, which hold multiple classic IPs in the same hand, are not at the same level of magnitude at all, and are even less universal than Huaqiang Fantawild's Bear Infestation;</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>Enterprises with massive mature IP, unique gameplay and culture, such as Nintendo and Lego, are also eyeing this track...</p><p>It is difficult to successfully operate a theme park!</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>Theme park, Bubble Mart can play understand?</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\">\nTheme park, Bubble Mart can play understand?\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<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the opening, there was a wind of theme park construction in China. Happy Valley, Wanda Park, Huaqiang Fantawild, Chimelong... all had to gesture with Disney.</p><p>Now, five years later, Shanghai Disney is still crowded. Beijing Universal Studios is about to open lively, Wanda Park changes hands with Sunac, Legoland,<a href=\"https://laohu8.com/S/SNE\">Sony</a>More theme parks, such as parks, are eyeing the Chinese market... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Bubble Mart</a>It also joined the war situation and set up a wholly-owned subsidiary, Beijing Bubble Mart Paradise Management Co., Ltd., to continue to expand its IP territory.</p><p>However, only those IPs in the blind box obviously won't do. We helped Bubble Mart figure out what else they need 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 plot of land</b></p><p>To build a theme park, you must first have a plot of land.</p><p>Many domestic amusement park operators, such as OCT, Sunac and previously Wanda, are real estate developers, and they have natural advantages in land planning. Therefore, Happy Valley, Sunac Paradise, etc. all take the route of \"tourism + real estate\".</p><p>In order to successfully acquire land, Shanghai Disney and Beijing Universal Studios both chose to cooperate with local governments and real estate developers. In addition to the more Chinese and Western operation mode, the operation idea is still \"tourism + real estate\".</p><p>From the perspective of specific regional selection, at present, Shanghai Disney and Beijing Universal Studios are in strong areas (Pudong New Area and Tongzhou) with better geographical and transportation advantages in their respective cities. It is difficult for latecomers, such as Legoland, to get better land, and they can only succumb to sub-optimal areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Huaqiang Fantawild, Sunac, Songcheng, Chimelong and other paradises gave up the relatively competitive first-and second-tier cities from the beginning, and chose to give full play to their expertise in their own advantageous areas.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamy merry-go-rounds, huge castles, realistic 4D technology... These have all become \"standard\" in theme parks, and these entertainment facilities and corresponding visual presentation technologies have been updated and iterated.</p><p>The collision of new and old technologies can be clearly felt at Universal Studios Beijing.</p><p>A Bilibili Up owner who went to punch in said that the Minions' experience was many notches higher than that of Harry Potter.</p><p>It is reported that the Minion section uses the latest 4D presentation technology, and the image quality is high-definition. However, \"Harry Potter's Forbidden Tour\" still uses the presentation technology of the first Harry Potter theme park in Universal Studios Orlando in 2007, and the picture is very blurry.</p><p>In terms of entertainment facilities and presentation technology, Huaqiang Fantawild can be regarded as one of the domestic enterprises with strong voice. Thanks to starting with selling special film equipment, the founder of Huaqiang Fantawild once said in the media: \"We all have Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This is an important opportunity for Huaqiang Fantawild to gradually transform from indoor amusement facilities into outdoor theme parks, and it also makes 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 reported that Huaqiang Fantawild sets up theme parks mainly through cooperation with various investors for investment and construction. Huaqiang Fantawild provides special equipment and installation services, special effect engineering construction services or engineering management services.</p><p>However, the operators of theme parks such as OCT, Sunac and Chimelong, which already have real estate operation capabilities, can only choose third-party cooperation to introduce equipment and technology.</p><p><b>Mature IP and operational capabilities</b></p><p>This is a top priority for theme parks.</p><p>Most of the IPs owned by Disney and Universal Studios have formed some kind of cultural symbol, which has 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 languages), and they are usually proud to highlight their unique fan characteristics, which gives more room for development around the corresponding IP.</p><p>What fan would go to Universal's Harry Potter Forbidden Tour without buying a magic wand and drinking a butter beer? Which fan will be willing to leave empty-handed when he sees the Storm Soldier's helmet when he goes to Disney Mall?</p><p>What's more, most of these IPs have been accumulated for decades, and they have been constantly introduced in the story content to cater to the appetite of new and old fans, which has had a huge influence on several generations, and these influences have given birth to the strong spending power of tourists visiting theme parks.</p><p>But these alone are not enough. The soul of the theme park is to make these IPs \"live\" in the park and bring tourists a realistic immersive experience.</p><p>Disney has always been famous for its dreams, because this is a fairy tale kingdom, in which all fairy tale characters are vivid, they will greet and interact with tourists, and they will also say some narration that conforms to \"personality\". When you walk into the park, you will feel happy from the bottom of your heart. This appeal is something that many domestic theme parks have never had before.</p><p>Universal Studios is not far behind. Some netizens said that when you come to Harry Potter's taboo tour and want to find a charging treasure, the staff will tell you, \"That's for Muggles, and we don't have it here.\"</p><p>A wave of the induction wand will produce scene changes, crying myrtle in the toilet…all important designs to increase the sense of experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>To present these IPs as authentically as possible, we benefit from the model of \"Chinese main investment + American main operation\" of Shanghai Disney and Beijing Universal Studios.</p><p>Shanghai Disney is jointly invested by Shendi Group and Disney to set up three enterprises, two of which are owner companies and the third is a management company.</p><p>Just like the management model of the hotel, the management company established by both parties accepts the entrustment of the owner's company and is responsible for the creativity, design, development and daily operation management of the project. This is also the first time in an overseas park invested by Disney.</p><p>Beijing Universal Studios also borrows from this model, which is composed of Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (\"Shouhuan Investment\") and Universal Theme Company and Resort (<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>Business segments under NBC Universal), with equity percentages of 70% and 30%.</p><p>The advantage of this is that, as the holder of IP, the US side better understands the true value of IP, so that it can maximize these values.</p><p>Back to domestic theme parks, they are somewhat skillful in IP operation.</p><p>OCT and Sunac basically adopt the way of cooperating with mature IP in China, which is more like putting IP OEM on their own amusement facilities or staff, so as to attract the audience of a certain IP to come and play.</p><p>For example, Nanjing Happy Valley, which opened last year, is bound to the IP of Little Yellow Duck. In Nanjing, where \"no duck can swim out\", this IP is certainly very popular and accurate in positioning.</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, it is still not easy to create an excellent immersion. After all, experience is a feeling that is both individual and subtle.</p><p>Located on the edge of Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>In the movie world, there are many Huayi Brothers movie IP such as If You Are the One, Di Renjie's Tongtian Empire and Tai Chi, but in terms of IP operation-many projects have no real scene but no interaction, which neither brings a real immersive experience to consumers nor increases user stickiness, leaving only monotonous photo shoots, and finally the door is left in the cold.</p><p>Huaqiang Fantawild has certain uniqueness and originality in the operation of its own IP and theme parks, and \"<b>Travel + Real Estate</b>\"Different models, Huaqiang Fantawild's strategy is\"<b>Culture + Technology</b>\", take the route of content being king.</p><p>But it is doomed to be a very difficult road to keep up with Disney.</p><p>In the past ten years, Huaqiang Fantawild has created more than 30 own IPs, and the only real household name is Bear Infestation. However, this 8-year-old IP didn't bring much grace to Huaqiang Fantawild's theme park.</p><p>The reason is that the main audience of Bears is children, but the target consumers of theme parks are young people aged 20-30. IP aging, target crowd misalignment, and attractiveness decrease naturally make the realization of theme parks even weaker.</p><p>Huaqiang Fantawild hopes to create an IP for higher age groups, so it took five years to launch the fantasy animation film \"City of Terracotta\".</p><p>The film was released this summer, and the box office was miserable-although the special effects are good, the plot and character creation \"pull the crotch\", and the setting of national style elements such as Terracotta Warriors and Horses, the Classic of Mountains and Seas is too confusing, and many explosive elements of Pixar and Disney animated movies have been \"brought\"...</p><p>Children may not understand that in front of well-informed adult consumers, the self-proclaimed originality of \"City of Terracotta\" makers is like a joke.</p><p><b>The blessing of theme parks is yet to come</b></p><p>Theme parks belong to the asset-heavy operation mode, and the remaining theme parks that are still in business today are all the products of the big waves in the past decade.</p><p>According to statistics, within ten years since Shanghai Disney announced its construction, 80% of theme parks have closed down successively, such as the famous Oriental Paradise, \"Tiangong Tribe\" and Orange Island Beach Park.</p><p>According to previous reports, around 2016, there were about 300 domestic theme parks with an investment of more than 50 million yuan, 70% of which were at a loss, 20% were flat, and only 10% were profitable. About 150 billion yuan was stuck in the investment of theme parks.</p><p>Nowadays, theme parks have gradually gotten rid of the state of barbaric growth at that time, and began to move towards the development path of scientific planning and IP operation, and their operation is on the right track.</p><p>According to the financial report of the first half of this year, the comprehensive tourism business of OCT achieved revenue of 18.922 billion yuan and gross profit of 4.685 billion yuan, up by 89.93% and 24.98% year-on-year respectively. The Company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas and 1 tourist performing arts station received a total of 28.482 million tourists, recovering to 160% of the same period in 2019.</p><p>The performance of Sunac's cultural tourism sector is also growing rapidly. In the first half of this year, the operating income was 2.61 billion yuan, a year-on-year increase of 166%; Passenger traffic reached 72.01 million, representing a year-on-year increase of 103%.</p><p>Although Huaqiang Fantawild has its own troubles, the operating income of theme parks in the first half of this year was 1.789 billion yuan, a year-on-year increase of 37.37%. In addition, in the first half of 2021, the visitor reception of Fantawild Theme Park has recovered to nearly 90% of the same period in 2019.</p><p>These achievements also benefited from the \"retaliatory\" travel and consumption of consumers after the epidemic. In addition, consumers' consumption mentality has also changed a little-whether it's playing, shopping or dining, they all pursue novel and fun offline experiences, which is an excellent opportunity for theme parks.</p><p>Therefore,<b>It becomes extra important to constantly bring freshness to consumers. Differentiated positioning, updating and iterating equipment, and upgrading technology... These have all become eternal topics and the focus of investment of theme park operators.</b></p><p>Now, if you want to enter the theme park, there are more and more problems that latecomers need to solve.</p><p>Take Bubble Mart as an example. Its brand audience is mostly trendy consumers in first-and second-tier cities, so the site selection of the park is bound to be limited to this range, and the cost will inevitably increase greatly;</p><p>In terms of the reserve of facilities and technologies in the park, Bubble Mart may only adopt the supplier cooperation system, and it is impossible to research and develop independently. Even if it is self-researched, it is not as good as its predecessors with years of experience;</p><p>In the operation of its own IP, Bubble Mart's IP is mostly in the initial stage of development-that is, there is only a simple IP image, with no story and connotation behind it. Disney and Universal Studios, which hold multiple classic IPs in the same hand, are not at the same level of magnitude at all, and are even less universal than Huaqiang Fantawild's Bear Infestation;</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>Enterprises with massive mature IP, unique gameplay and culture, such as Nintendo and Lego, are also eyeing this track...</p><p>It is difficult to successfully operate a theme park!</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":907,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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/886595911","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 starts its IPO today with an admission fee of HK$8080.62","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 14th, Chuangsheng Group-B announced that it will issue an IPO from September 14th to 17th. The company plans to issue 40.33 million shares, including 4.033 million shares for public offering and 36.297 million shares for international offering, with an issue price of HK$15.8-16.0 per share and 500 shares per lot. It is expected to be listed on September 29th.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>Each lot of 500 shares, the entrance fee is HK$8080.62.</p><p>The threshold of Group B is 400,000 shares, and the funds required for subscription are about HK$ 6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">For cornerstone investors, a number of cornerstone investors agreed to subscribe for the number of Offer Shares available at the Offer Price, totaling approximately US$68 million, including LAV, Temasek, QIA, China State-owned Enterprise Structural Adjustment Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, 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, mainly pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>The Company was not profitable and incurred operating losses during the Track Record Period. In 2019, 2020 and the first three months of 2021, the Company achieved revenue of RMB44.14 million, RMB80.98 million and RMB7.883 million, and recorded total comprehensive expenses of RMB438 million, RMB320 million and RMB71 million for the same periods, respectively.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">In terms of financing, the net proceeds of the company were 571 million yuan (assuming that the over-allotment option was not exercised, calculated by the median issue price). According to the prospectus, the Company intends to use the net proceeds from the Share Offer for the following purposes: 82% for the research and development of the Company's pipeline product candidates, funding for ongoing and planned clinical and preclinical trials, preparation for registration and filing, and other steps or activities related to the commercialization of the Company's four flagship products; 8% is used to fund business development for pipeline expansion and technology development; 10% is used 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 the nine drug candidates, covering validated, partially validated and novel biological pathways.</p><p>Among them, the core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company has submitted a Phase 1 end-of-analysis report to the NMPA in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002), a humanized sclerostin monoclonal antibody candidate for the treatment of osteoporosis, which was authorized to introduce the drug in Greater China from Eli Lilly in 2019.</p><p>It is worth noting that the company is supported by world-renowned strategic investors and professional funds focused on biotechnology<b>Shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Structural Adjustment 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 starts its IPO today with an admission fee of HK$8080.62</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 starts its IPO today with an admission fee of HK$8080.62\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 14th, Chuangsheng Group-B announced that it will issue an IPO from September 14th to 17th. The company plans to issue 40.33 million shares, including 4.033 million shares for public offering and 36.297 million shares for international offering, with an issue price of HK$15.8-16.0 per share and 500 shares per lot. It is expected to be listed on September 29th.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>Each lot of 500 shares, the entrance fee is HK$8080.62.</p><p>The threshold of Group B is 400,000 shares, and the funds required for subscription are about HK$ 6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">For cornerstone investors, a number of cornerstone investors agreed to subscribe for the number of Offer Shares available at the Offer Price, totaling approximately US$68 million, including LAV, Temasek, QIA, China State-owned Enterprise Structural Adjustment Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, 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, mainly pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>The Company was not profitable and incurred operating losses during the Track Record Period. In 2019, 2020 and the first three months of 2021, the Company achieved revenue of RMB44.14 million, RMB80.98 million and RMB7.883 million, and recorded total comprehensive expenses of RMB438 million, RMB320 million and RMB71 million for the same periods, respectively.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">In terms of financing, the net proceeds of the company were 571 million yuan (assuming that the over-allotment option was not exercised, calculated by the median issue price). According to the prospectus, the Company intends to use the net proceeds from the Share Offer for the following purposes: 82% for the research and development of the Company's pipeline product candidates, funding for ongoing and planned clinical and preclinical trials, preparation for registration and filing, and other steps or activities related to the commercialization of the Company's four flagship products; 8% is used to fund business development for pipeline expansion and technology development; 10% is used 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 the nine drug candidates, covering validated, partially validated and novel biological pathways.</p><p>Among them, the core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company has submitted a Phase 1 end-of-analysis report to the NMPA in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002), a humanized sclerostin monoclonal antibody candidate for the treatment of osteoporosis, which was authorized to introduce the drug in Greater China from Eli Lilly in 2019.</p><p>It is worth noting that the company is supported by world-renowned strategic investors and professional funds focused on biotechnology<b>Shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Structural Adjustment 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-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":997,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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 Bears US Three Times, S&P 500 Says Dismissive","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 note to clients that the overall U.S. expansion rate in 2021 is expected to be 5.7%, down from the 6% estimate posted in late August, and raised the unemployment rate forecast for the end of 2021 to 4.2% from the previous 4.1%. Because the outlook for American consumers will be more \"difficult\" than previously expected.</p><p>Walker expects the weak growth to continue into next year and is expected to accelerate after that. U.S. economic growth is expected to accelerate in 2022, and it raised its 2022 forecast to 4.6% from 4.5%.</p><p>Explaining the rationale for cutting the 2021 economic forecast, Walker wrote that consumer spending in the U.S. is expected to decrease as the Delta variant emerges, fiscal support weakens and consumer demand shifts from goods to services; Supply chain disruptions have also impacted inventory replenishment.</p><p><b>Wall Street Bearish on U.S. Economy</b></p><p>This is not the first time that Goldman Sachs has been bearish on the U.S. economy. In fact, this is the three times that Goldman Sachs has cut its U.S. economic growth forecast in the last two months. The first was in July, lowering U.S. GDP growth forecasts by 1% to 8.5% and 5.0% for the third and fourth quarters, respectively; The second was in August, when it lowered its GDP forecast for U.S. stocks in the third quarter to 5.5% from 8.5%, and Goldman Sachs also lowered its full-year 2021 GDP forecast to 6% from 6.4% in its revised forecast, forecasting that the U.S. economy will grow by 4.5% in 2022.</p><p>Not only Goldman Sachs, but Morgan Stanley also slashed its third-quarter U.S. gross domestic product forecast last week, from 6.5% to 2.9% growth. After revising the GDP forecast for the third quarter, Morgan Stanley's GDP growth rate for the United States this year is expected to be 5.6%, which is lower than Goldman Sachs's lowered annual growth rate.</p><p>The stock market is a barometer of the economy. How does the U.S. stock market perform when Wall Street is so bearish on the U.S. economy?</p><p><b>U.S. stocks are bullish</b></p><p>The U.S. S&P 500 and Nasdaq Composite reached new highs last week, and U.S. stocks remain in a bull-market binge. But a closer look reveals that investors are adjusting their portfolios to cope with the potential shocks in the stock market.</p><p>Utilities were the S&P 500's best-performing sector so far this quarter, rising 10.2%. They are followed by other preferred sectors among conservative investors, including real estate and healthcare.</p><p>In the derivatives market, the spread between the near-month Cboe Volatility Index futures contract and the VIX index is higher than it has been about 85% of the time in the past five years. This suggests that some investors expect equity market calm to be replaced by more intense price swings in the coming weeks and months.</p><p>Meanwhile, the Japanese yen and the Swiss franc, which are considered safe haven assets in times of uncertainty, outperformed most G10 currencies this quarter. It was a year of good returns for the market, but it was also a fairly defensive bull market.</p><p>Many are increasingly uneasy that U.S. stocks have not lost more than 5% in 292 calendar days, nearly three times the average length since World War II. Rising valuations, slowing economic growth and signs of excessive speculation have compounded their concerns.</p><p>Some analysts also believe that some of the money flowing into defensive stocks may be more related to investors chasing yields than fearing that the market is about to collapse. The S&P 500 utilities index yielded about 3%, while the benchmark U.S. 10-year Treasury yield was around 1.33% on Friday.</p><p><b>sum up</b></p><p>Defensive stocks are increasingly sought after by the market, perhaps due to the rotation of sectors or the increasing potential risks in the market. In any case, you can go further by following market trends and being ready for possible upheavals.</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 Bears US Three Times, S&P 500 Says Dismissive</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 Bears US Three Times, S&P 500 Says Dismissive\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 note to clients that the overall U.S. expansion rate in 2021 is expected to be 5.7%, down from the 6% estimate posted in late August, and raised the unemployment rate forecast for the end of 2021 to 4.2% from the previous 4.1%. Because the outlook for American consumers will be more \"difficult\" than previously expected.</p><p>Walker expects the weak growth to continue into next year and is expected to accelerate after that. U.S. economic growth is expected to accelerate in 2022, and it raised its 2022 forecast to 4.6% from 4.5%.</p><p>Explaining the rationale for cutting the 2021 economic forecast, Walker wrote that consumer spending in the U.S. is expected to decrease as the Delta variant emerges, fiscal support weakens and consumer demand shifts from goods to services; Supply chain disruptions have also impacted inventory replenishment.</p><p><b>Wall Street Bearish on U.S. Economy</b></p><p>This is not the first time that Goldman Sachs has been bearish on the U.S. economy. In fact, this is the three times that Goldman Sachs has cut its U.S. economic growth forecast in the last two months. The first was in July, lowering U.S. GDP growth forecasts by 1% to 8.5% and 5.0% for the third and fourth quarters, respectively; The second was in August, when it lowered its GDP forecast for U.S. stocks in the third quarter to 5.5% from 8.5%, and Goldman Sachs also lowered its full-year 2021 GDP forecast to 6% from 6.4% in its revised forecast, forecasting that the U.S. economy will grow by 4.5% in 2022.</p><p>Not only Goldman Sachs, but Morgan Stanley also slashed its third-quarter U.S. gross domestic product forecast last week, from 6.5% to 2.9% growth. After revising the GDP forecast for the third quarter, Morgan Stanley's GDP growth rate for the United States this year is expected to be 5.6%, which is lower than Goldman Sachs's lowered annual growth rate.</p><p>The stock market is a barometer of the economy. How does the U.S. stock market perform when Wall Street is so bearish on the U.S. economy?</p><p><b>U.S. stocks are bullish</b></p><p>The U.S. S&P 500 and Nasdaq Composite reached new highs last week, and U.S. stocks remain in a bull-market binge. But a closer look reveals that investors are adjusting their portfolios to cope with the potential shocks in the stock market.</p><p>Utilities were the S&P 500's best-performing sector so far this quarter, rising 10.2%. They are followed by other preferred sectors among conservative investors, including real estate and healthcare.</p><p>In the derivatives market, the spread between the near-month Cboe Volatility Index futures contract and the VIX index is higher than it has been about 85% of the time in the past five years. This suggests that some investors expect equity market calm to be replaced by more intense price swings in the coming weeks and months.</p><p>Meanwhile, the Japanese yen and the Swiss franc, which are considered safe haven assets in times of uncertainty, outperformed most G10 currencies this quarter. It was a year of good returns for the market, but it was also a fairly defensive bull market.</p><p>Many are increasingly uneasy that U.S. stocks have not lost more than 5% in 292 calendar days, nearly three times the average length since World War II. Rising valuations, slowing economic growth and signs of excessive speculation have compounded their concerns.</p><p>Some analysts also believe that some of the money flowing into defensive stocks may be more related to investors chasing yields than fearing that the market is about to collapse. The S&P 500 utilities index yielded about 3%, while the benchmark U.S. 10-year Treasury yield was around 1.33% on Friday.</p><p><b>sum up</b></p><p>Defensive stocks are increasingly sought after by the market, perhaps due to the rotation of sectors or the increasing potential risks in the market. In any case, you can go further by following market trends and being ready for possible upheavals.</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":1200,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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 Exposure in the Cook Era! Unprecedented blockbuster new 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 is reportedly hoping to work for<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Develop a new category. Many people may naturally think of the Apple Car, but Gurman's point is VR/AR related. Cook understands that cars are not an overnight product and are still far away. Moreover, the opportunity is reserved for the young man in Silicon Valley, who can no longer surpass his 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 \"chicken thief\". If the car project is made, it is called icing on the cake. Once it fails, it will be \"ruined\".</p><p>According to the plan, Apple's mixed reality headset will be launched around 2022, and the augmented reality headset will have to wait until around 2025.</p><p>According to the report, Cook's salary contract ends in 2025, and he will most likely retire between 2025 and 2028. He has previously said that he should not 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 Backlit Keyboard</strong></p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Price]</zspan>9999 yuan</p><p>Enter a 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 backlit keyboard</strong></p><p>Gift</p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Price]</zspan>7999 yuan</p><p>Enter a purchase</p><p></div>This article is an original article. If reprinted, please indicate the source: Apple's ultimate product exposure in Cook era! Unprecedented blockbuster new categories 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\">Cook reportedly hopes to carve out another new category for Apple before the end of his term. Many people may naturally think of the Apple Car, but Gurman's point is VR/AR related. Cook understands that cars are not an overnight product and are still far away. Moreover, the opportunity is reserved for the young man in Silicon Valley, who can no longer surpass his peak. Of course, this also seems \"chicken thief\"...</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 Exposure in the Cook Era! Unprecedented blockbuster new 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 Exposure in the Cook Era! Unprecedented blockbuster new 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 is reportedly hoping to work for<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Develop a new category. Many people may naturally think of the Apple Car, but Gurman's point is VR/AR related. Cook understands that cars are not an overnight product and are still far away. Moreover, the opportunity is reserved for the young man in Silicon Valley, who can no longer surpass his 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 \"chicken thief\". If the car project is made, it is called icing on the cake. Once it fails, it will be \"ruined\".</p><p>According to the plan, Apple's mixed reality headset will be launched around 2022, and the augmented reality headset will have to wait until around 2025.</p><p>According to the report, Cook's salary contract ends in 2025, and he will most likely retire between 2025 and 2028. He has previously said that he should not 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 Backlit Keyboard</strong></p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Price]</zspan>9999 yuan</p><p>Enter a 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 backlit keyboard</strong></p><p>Gift</p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Price]</zspan>7999 yuan</p><p>Enter a purchase</p><p></div>This article is an original article. If reprinted, please indicate the source: Apple's ultimate product exposure in Cook era! Unprecedented blockbuster new categories 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\">Cook reportedly hopes to carve out another new category for Apple before the end of his term. Many people may naturally think of the Apple Car, but Gurman's point is VR/AR related. Cook understands that cars are not an overnight product and are still far away. Moreover, the opportunity is reserved for the young man in Silicon Valley, who can no longer surpass his peak. Of course, this also seems \"chicken thief\"...</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":1234,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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,"repost":{"id":"2162068635","kind":"news","pubTimestamp":1629928800,"share":"https://ttm.financial/m/news/2162068635?lang=en_US&edition=fundamental","pubTime":"2021-08-26 06:00","market":"hk","language":"zh","title":"Keeping an eye on when the Fed tapers its bond purchases is out! When it ends is more important, professionals say","url":"https://stock-news.laohu8.com/highlight/detail?id=2162068635","media":"智通财经","summary":"近期金融市场上所有的讨论都是关于美联储何时开始缩减购债，专业人士们则指出，对于从股票、债券、货币到一切来说，更重要的不是何时开始，而是缩减购债何时会结束。美联储目前每月购买1200亿美元的证券，直到美国经济在实现最大就业和价格稳定目标方面取得实质性的进一步进展。当美联储在上一次经济衰退后退出每月购买850亿美元的购债计划时，该央行当时用了10个月的时间。目前货币市场交易员认为，美联储将在2023年第一季度首次加息。","content":"<p><html><body>Zhitong Finance APP learned that on Wednesday, as the annual meeting of global central banks in Jackson Hole was about to be held, investors waited with bated breath for the speech of Federal Reserve Chairman Powell, and US stocks closed slightly higher to a new high. All the recent talk in financial markets has been about when the Fed will start tapering, and professionals point out that what matters more for everything from stocks, bonds, currencies, is not when it starts, but when tapering will end.</p><p>Tom Essaye, a former Merrill Lynch trader, said: \"The key is how fast the Fed exits easing policy, and then (when) it translates into the time of the first rate hike.\"</p><p>The Fed is currently buying $120 billion a month in securities until the U.S. economy makes substantial further progress toward its maximum employment and price stability targets. When the Federal Reserve pulled out of its $85 billion-a-month bond purchase program after the last recession, it took 10 months for the central bank. The taper at the time was announced in December 2013 and began the following month, finally ending all purchases in October 2014 and beginning a rate hike in December 2015.</p><p>Currently money market traders believe the Federal Reserve will have its first rate hike in the first quarter of 2023.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Guneet Dhingra, head of U.S. interest rate strategy at the Fed, pointed out: \"When the Fed actually announces a shrinking balance sheet, it may also give some information about what pace it will take and what officials want to give in the process, which may provide a key signal for the rate hike cycle, especially in terms of the pace of rate hike.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210826/1629924063453122.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1629924063453122.png\"/></p><p>The U.S. 10-year Treasury Bond yield has steadily declined since March this year and is now around 1.3%, not far from an all-time low, amid concerns that the Delta variant will dampen the economic recovery. The gap between long-and short-term yields has also narrowed since hitting a more than five-year high in March, a sign of speculation that the Fed will begin to pull back on its stimulus measures.</p><p>Morgan Stanley predicts that the U.S. 10-year Treasury Bond yield will reach 1.8% by the end of the year, with the Federal Reserve set to begin a shrinking balance sheet in January and end in October. The bank predicts that the Fed's first rate hike will take place in the second quarter of 2023.</p><p>Steven Barrow, a director at Standard Bank Group, said that if the Fed delays the shrinking balance sheet, the risk is greater than if it acts prematurely. He noted that the delay could force the central bank to raise interest rates within just a few months of ending bond purchases, which could unsettle financial markets and would put investors into safe havens such as the yen and the Swiss franc.</p><p>Barrow said: \"It would be dangerous for the Fed to do so (delay the end of bond purchases). We know that it is not impossible for the Fed to raise interest rates sometime around the end of next year. I am more concerned about when the Fed's shrinking balance sheet ends than when it starts.\"</p><p>The normalization of Fed policy is more risky this time, because against the backdrop of near-zero interest rates and easing policies, there is another debt ceiling crisis, and the bond market is very sensitive to changes in interest rates. This risk extends to the stock market. Cheap money poured into markets worldwide has driven down bond yields, stoking investors' quest for high yields, and signs of a bubble have emerged almost everywhere.</p><p>George Goncalves, head of US macro strategy at MUFG Securities Americas, said: \"In this case, the liquidity of margin is the most important thing. The impact of shrinking balance sheet on assets will start with cryptocurrencies and extend to some stocks and high-yield bonds. shrinking balance sheet will have more impact on these assets than Treasury Bond in the United States, and (without the support of the Federal Reserve) these assets will have to start 'self-reliance'\"</p><p></body></html></p>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Keeping an eye on when the Fed tapers its bond purchases is out! When it ends is more important, professionals say</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\">\nKeeping an eye on when the Fed tapers its bond purchases is out! When it ends is more important, professionals say\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-08-26 06:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>Zhitong Finance APP learned that on Wednesday, as the annual meeting of global central banks in Jackson Hole was about to be held, investors waited with bated breath for the speech of Federal Reserve Chairman Powell, and US stocks closed slightly higher to a new high. All the recent talk in financial markets has been about when the Fed will start tapering, and professionals point out that what matters more for everything from stocks, bonds, currencies, is not when it starts, but when tapering will end.</p><p>Tom Essaye, a former Merrill Lynch trader, said: \"The key is how fast the Fed exits easing policy, and then (when) it translates into the time of the first rate hike.\"</p><p>The Fed is currently buying $120 billion a month in securities until the U.S. economy makes substantial further progress toward its maximum employment and price stability targets. When the Federal Reserve pulled out of its $85 billion-a-month bond purchase program after the last recession, it took 10 months for the central bank. The taper at the time was announced in December 2013 and began the following month, finally ending all purchases in October 2014 and beginning a rate hike in December 2015.</p><p>Currently money market traders believe the Federal Reserve will have its first rate hike in the first quarter of 2023.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Guneet Dhingra, head of U.S. interest rate strategy at the Fed, pointed out: \"When the Fed actually announces a shrinking balance sheet, it may also give some information about what pace it will take and what officials want to give in the process, which may provide a key signal for the rate hike cycle, especially in terms of the pace of rate hike.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210826/1629924063453122.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1629924063453122.png\"/></p><p>The U.S. 10-year Treasury Bond yield has steadily declined since March this year and is now around 1.3%, not far from an all-time low, amid concerns that the Delta variant will dampen the economic recovery. The gap between long-and short-term yields has also narrowed since hitting a more than five-year high in March, a sign of speculation that the Fed will begin to pull back on its stimulus measures.</p><p>Morgan Stanley predicts that the U.S. 10-year Treasury Bond yield will reach 1.8% by the end of the year, with the Federal Reserve set to begin a shrinking balance sheet in January and end in October. The bank predicts that the Fed's first rate hike will take place in the second quarter of 2023.</p><p>Steven Barrow, a director at Standard Bank Group, said that if the Fed delays the shrinking balance sheet, the risk is greater than if it acts prematurely. He noted that the delay could force the central bank to raise interest rates within just a few months of ending bond purchases, which could unsettle financial markets and would put investors into safe havens such as the yen and the Swiss franc.</p><p>Barrow said: \"It would be dangerous for the Fed to do so (delay the end of bond purchases). We know that it is not impossible for the Fed to raise interest rates sometime around the end of next year. I am more concerned about when the Fed's shrinking balance sheet ends than when it starts.\"</p><p>The normalization of Fed policy is more risky this time, because against the backdrop of near-zero interest rates and easing policies, there is another debt ceiling crisis, and the bond market is very sensitive to changes in interest rates. This risk extends to the stock market. Cheap money poured into markets worldwide has driven down bond yields, stoking investors' quest for high yields, and signs of a bubble have emerged almost everywhere.</p><p>George Goncalves, head of US macro strategy at MUFG Securities Americas, said: \"In this case, the liquidity of margin is the most important thing. The impact of shrinking balance sheet on assets will start with cryptocurrencies and extend to some stocks and high-yield bonds. shrinking balance sheet will have more impact on these assets than Treasury Bond in the United States, and (without the support of the Federal Reserve) these assets will have to start 'self-reliance'\"</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/544886.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f9e9a265cb0e7e8cb195039b2fe24a4","relate_stocks":{},"source_url":"http://www.zhitongcaijing.com/content/detail/544886.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162068635","content_text":"智通财经APP获悉，周三，因杰克逊霍尔全球央行年会即将召开，投资者屏息凝神等待美联储主席鲍威尔的讲话，美股小幅收涨再创新高。近期金融市场上所有的讨论都是关于美联储何时开始缩减购债，专业人士们则指出，对于从股票、债券、货币到一切来说，更重要的不是何时开始，而是缩减购债何时会结束。前美林证券交易员Tom Essaye表示：“关键是美联储退出宽松政策的速度有多块，然后(什么时候)转化为第一次加息的时间。”美联储目前每月购买1200亿美元的证券，直到美国经济在实现最大就业和价格稳定目标方面取得实质性的进一步进展。当美联储在上一次经济衰退后退出每月购买850亿美元的购债计划时，该央行当时用了10个月的时间。当时的缩减购债是在2013年12月宣布的，并在次月开始，最后在2014年10月结束了所有的购买，于2015年12月开始加息。目前货币市场交易员认为，美联储将在2023年第一季度首次加息。摩根士丹利的美国利率策略主管Guneet \nDhingra指出：“当美联储实际宣布缩表时，它可能也会在一定程度上给出关于它将采取什么速度以及官员们想在这个过程中给出什么样的信息，这可能为加息周期提供一个关键信号，特别是在加息的速度方面。”自今年3月份以来，美国十年期国债收益率稳步下行，目前在1.3%左右，离历史最低点不远，因为人们担心Delta变种会抑制经济复苏。长期和短期收益率之间的差距自3月份创下五年多来的高点以来也有所缩小，这是人们猜测美联储将开始撤回其刺激措施的一个迹象。摩根士丹利预测，美国10年期国债收益率将在今年年底达到1.8%，美联储将在明年1月开始缩表，并在10月结束。该行预测，美联储的第一次加息将在2023年第二季度进行。Standard Bank Group的一位主管Steven \nBarrow表示，如果美联储推迟缩表，其风险要大于过早行动。他指出，推迟可能会迫使该央行在结束债券购买的短短几个月内提高利率，这可能会使金融市场感到不安，将使投资者进入日元和瑞士法郎等避风港。Barrow称：“美联储这样做(推迟结束债券购买)将是危险的，我们知道，美联储在明年年底前后的某个时候提高利率，这并非不可能。我更关注美联储缩表什么时候结束，而不是什么时候开始。”此次美联储政策的正常化风险更大，因为在接近零利率和宽松政策的背景下，又出现了债务上限危机，债券市场对利率的变化非常敏感。这种风险延申到了股市。全球范围内投入市场的廉价资金推动了债券收益率的下降，激起了投资者对高收益的追求，几乎所有地方都出现了泡沫的迹象。MUFG Securities Americas的美国宏观战略主管George \nGoncalves表示：“在这种情况下，保证金的流动性才是最重要的。缩表对资产的影响会从加密货币开始，延伸至一些股票和高收益债券。缩表对这些资产的影响将比美国国债更多，(失去美联储的支持)这些资产将不得不开始‘自力更生’”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1100,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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":1110,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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":"Or on Mondays! Pfizer vaccine to be fully approved in the U.S.","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 would 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 the<a href=\"https://laohu8.com/S/NYT\">The New York Times</a>The U.S. Food and Drug Administration (FDA) may fully approve Pfizer's COVID-19 vaccine on Monday, citing sources.</p><p>The final review could pass that date as paperwork and negotiations with Pfizer continue, a move that will make Pfizer's vaccine the first COVID vaccine to go from emergency use authorization to full FDA approval.</p><p>On Aug. 8, White House chief medical adviser Dr. Anthony Fauci told The Associated Press that he hoped the vaccine would be fully approved within August, which would make it mandatory for more companies and schools to get people vaccinated.</p><p>With a surge in Covid cases across the U.S. in recent weeks, major U.S. companies have increasingly strict rules around vaccinating their employees. Some companies say they will make full FDA approval part of their decision-making process.</p><p>As of Friday, data from the Centers for Disease Control and Prevention (CDC) showed that,<b>Pfizer's vaccine has given 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 a biopharmaceutical license for the vaccine in May after receiving emergency use authorization from the FDA in December.</p><p>Drugmakers with EU authorization are barred from promoting their vaccines, CNBC previously reported.</p><p>But if duly authorized,<b>Pfizer and BioNTech's vaccines will remain on the market after the pandemic is over, and are able to advertise their vaccines directly to consumers.</b></p><p>On August 16, the two companies announced that they began the approval process for providing booster shots to fully vaccinated people after submitting clinical trial data to the FDA.</p><p>Separately, senior health officials from agencies including the CDC, White House and FDA said in a statement Wednesday that the effectiveness of mRNA vaccines declines over time, especially for those with compromised immune systems.</p><p>They say the U.S. 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>Or on Mondays! Pfizer vaccine to be fully approved in the U.S.</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\">\nOr on Mondays! Pfizer vaccine to be fully approved in the U.S.\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 would 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 the<a href=\"https://laohu8.com/S/NYT\">The New York Times</a>The U.S. Food and Drug Administration (FDA) may fully approve Pfizer's COVID-19 vaccine on Monday, citing sources.</p><p>The final review could pass that date as paperwork and negotiations with Pfizer continue, a move that will make Pfizer's vaccine the first COVID vaccine to go from emergency use authorization to full FDA approval.</p><p>On Aug. 8, White House chief medical adviser Dr. Anthony Fauci told The Associated Press that he hoped the vaccine would be fully approved within August, which would make it mandatory for more companies and schools to get people vaccinated.</p><p>With a surge in Covid cases across the U.S. in recent weeks, major U.S. companies have increasingly strict rules around vaccinating their employees. Some companies say they will make full FDA approval part of their decision-making process.</p><p>As of Friday, data from the Centers for Disease Control and Prevention (CDC) showed that,<b>Pfizer's vaccine has given 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 a biopharmaceutical license for the vaccine in May after receiving emergency use authorization from the FDA in December.</p><p>Drugmakers with EU authorization are barred from promoting their vaccines, CNBC previously reported.</p><p>But if duly authorized,<b>Pfizer and BioNTech's vaccines will remain on the market after the pandemic is over, and are able to advertise their vaccines directly to consumers.</b></p><p>On August 16, the two companies announced that they began the approval process for providing booster shots to fully vaccinated people after submitting clinical trial data to the FDA.</p><p>Separately, senior health officials from agencies including the CDC, White House and FDA said in a statement Wednesday that the effectiveness of mRNA vaccines declines over time, especially for those with compromised immune systems.</p><p>They say the U.S. 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":1039,"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,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"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":"Tik Tok makes Meituan uncomfortable, but not because of heart takeout","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>Tik Tok heart takeout, which has been fermenting for more than a month, has not landed so far.</p><p>Ordinary users can't find the service entrance for heartbeat takeout, which is still in the internal test stage. There are also few merchants providing Tik Tok take-out service. KFC and Heytea both handle take-out orders through their own small programs.</p><p>But that doesn't prevent everyone from speculating about this matter. The interpretation and analysis of takeout for bytes is always the most eye-catching. The topic of \"Heartbeat Takeout\" on Tik Tok has been played 380 million times. Some bloggers even package it as an outlet for ordinary people to realize wealth freedom.</p><p>Perhaps we are all thinking a little too much and exaggerating the influence of Tik Tok doing takeout. At least at this time, it is too early to regard Tik Tok take-out as a force to stir up the market structure.</p><p>Takeout is just a footnote to TikTok's foray into local lifestyle services. Compared with this new business of \"only hearing its voice but not seeing its people\", it's better to pay attention to Tik Tok's in-store consumption first.</p><p>Judging from the internal reaction of the US Mission, it is not Tik Tok take-out that makes them uncomfortable. It is the cannibalization of its advertising revenue by TikTok-to-store business.</p><p><b>01</b></p><p><b>Not getting through</b></p><p>\"I don't know, I haven't heard of it.\" Faced with the store Tik Tok group purchase package displayed by \"Xinmang Daybreak\", the waiters of four restaurants all said they didn't understand. Even if this package can be used, they can't be sure.</p><p>In a large shabu-shabu shop in Chaoyang District, Beijing, the background cashier system did not enter the package of Tik Tok. That is to say, consumers can't place an order after buying the package. After consulting the store manager, they simply recommend us to buy it from the US Mission.</p><p>This is not an isolated case. A founder of a national chain restaurant told \"Xinmang Daybreak\" that regardless of group purchase or take-out, the cashier system of Tik Tok and merchants has not been connected, and a closed loop in a complete sense has not been realized. Group purchase is currently the experience of users holding coupons to the store for writing off, and the whole process is not particularly smooth.</p><p>Local life services, Tik Tok has made a lot of foreshadowing.</p><p>In March last year, Tik Tok launched the \"Tik Tok Group Buying\" function. Now, when you click on the Tik Tok location interface, the preferential group buying service has covered three sections: catering, tourism and accommodation, leisure and entertainment, which is also the whole content of local life.</p><p>A year has passed, and Tik Tok is not optimistic about the establishment of business ecology in stores.</p><p>After our test, there are nearly 100 restaurants within one kilometer, and only 13 have launched Tik Tok group purchase. At the same location and distance, the number of merchants participating in the group purchase of the US Mission is 66. In the field of tourism accommodation, there are still no businesses settled in Beijing, and the nearest hotel is in Langfang City, Hebei Province.</p><p>We learned that despite Byte's huge traffic and brand influence, there are no shortcuts when you want to participate in the game of local life. Think about Ali. After so many years of death, there is no shortage of traffic or money, but there is no shortage of money.</p><p>Xu Yang, the owner of a restaurant in Beijing, revealed to \"Xinmang Daybreak\" that two months ago, Tik Tok's local push came to the door, so they launched a group purchase package. He wasn't sure if he could bring in new customers. Xu Yang's attitude is, \"Tik Tok's group purchase is just hanging, and there is no energy to operate at present.\"</p><p>Later, some adjustments were made to the restaurant dishes, and the local push on Tik Tok never came again, and Xu Yang didn't take the initiative to change the set menu on Tik Tok. As a result, the restaurant has far more group purchase packages in Meituan than TikTok.</p><p>This is not a minority, either. After comparison, we found that in a restaurant chain, Meituan has as many as 19 categories of group purchase discounts, while Tik Tok has only 3 categories.</p><p>The co-founders of a restaurant chain in Guangxi contacted by \"Xinmang Daybreak\" were more straightforward, refusing to participate in Douyin's group buying campaign. The reason is simple. \"The profit of mass catering is thin, and more discounts, that is, drinking poison to quench thirst.\"</p><p>Xu Yang revealed that the group purchase commission of the US Mission is about 2%, while the group purchase of Tik Tok has no commission. The commission is not the key. If the group purchase is less than 30% off, you will lose money. This is also an important reason why Xu Yang doesn't care about Tik Tok group purchase.</p><p>Longyan, nearly 2,000 kilometers away from Beijing, is Zhang Yiming's hometown. Locally, people know this Longyan entrepreneur. But this geographical friendship does not translate into commercial support.</p><p>Zhang Xuan, who has opened a milk tea shop in Longyan for six years, told \"Xinmang Daybreak\" that in the past two months, \"people from Tik Tok come to promote it every day, and sometimes four people can come a day.\" But he just doesn't want to do Tik Tok group buying.</p><p>In Zhang Xuan's view, the group purchase price is too low, basically about 50% off. Group buying can only be kept at a loss, just as advertising. And he was already very busy, unwilling to cause trouble for himself again. Many businesses just hang, but they don't want to do it. \"After all, businesses are not charitable.\"</p><p>According to him, the current local push of Tik Tok is mainly aimed at group purchase, and there is no movement in take-out. I only heard that it was tested internally. Then, he added, \"This is still the world of Meituan.\" Long Yan is also Wang Xing's hometown.</p><p><b>02</b></p><p><b>Threatening Meituan?</b></p><p>Although the promotion results of Tik Tok to the store group purchase are not loud, there is still a tense atmosphere hanging over the US Mission. An insider of the US Mission said, \"There is a feeling of being stabbed by Byte\".</p><p>The most direct result of Tik Tok's involvement in local life is the cannibalization of the advertising revenue of Meituan's in-store business.</p><p>Although the above-mentioned restaurants in Guangxi have not participated in group purchase, they have been planting grass in Tik Tok. Their principle is: \"Meituan is the same as Tik Tok, with more drainage of content display and less drainage of losing profits.\" The specific implementation strategy is: \"Brand grass planting covers the whole city with heavy firepower, and storefront grass planting radiates two or three kilometers.\"</p><p>As a result, with an almost fixed budget every year, Tik Tok increases, and Meituan naturally decreases.</p><p>The logic is to take its course. The demand for merchants' drainage promotion has never changed. All that changes is the carrying form.</p><p>If we say that the era of public comment is dominated by graphic content and short videos are on the rise, Tik Tok, as the largest platform, will naturally carry local life services. And, whether it is reviews or Tik Tok, they all rely on UGC's content creation mode.</p><p>Tik Tok generously plans a series of store visiting activities, encouraging content creators to go to offline stores to create POI videos. After users apply to become group buying experts, they receive tasks in the background, that is, the advertising of merchants. You can get traffic support and commission dividends by shooting punch-in videos with locations.</p><p>The founder of the above-mentioned national chain restaurant also believes that compared with home, Tik Tok's arrival at the store is more logical. \"If a closed loop can be formed, the experience of merchants and consumers will be smoother, and the future traffic plate will be larger.\"</p><p>The biggest question of insiders in the US Mission is whether the top management has a plan to deal with Tik Tok's increasing penetration into the store business.</p><p>Since the merger of reviews in 2015, the US Mission has been going to reviews in recent years. When Xiaohongshu first invaded local life across the border, the comments were unresponsive. When Tik Tok attacked aggressively, he didn't see the action of reviews. Even comments once reported the news of layoffs.</p><p>The problem is that the marginalized comments actually have very good cash flow in many businesses. For example, catering, beauty, wedding, etc. These incomes are feeding back the innovative business of Meituan, while the core business takeaway has not been profitable so far. It is not a good thing if Tik Tok's aggressive attack has a substantial impact on Meituan's advertising revenue.</p><p>Does this count as a mistake by Meituan? \"We shouldn't just watch it happen. At least put on your protective clothes before someone tries to stab you?\"</p><p><b>03</b></p><p><b>How determined is TikTok to do takeout?</b></p><p>The in-store business has not been solid yet. Why is Tik Tok eager to launch take-out business?</p><p>From the perspective of market size, the take-out of high-frequency demand is a good business. Meituan's annual revenue in 2020 has reached 114.8 billion yuan, of which the food delivery business is strong, with the annual transaction amount increasing by 24.5% year-on-year, and the revenue reached 66.3 billion yuan, accounting for about 58% of the total revenue.</p><p>According to iResearch, by 2025, the domestic local life service market will grow from 19.5 trillion yuan in 2020 to 35.3 trillion yuan. Among them, the online penetration rate of life services is only 12.7%. In other words, the main competition location of this 10,000-level market is still offline.</p><p>With such a huge market, Byte naturally won't let it go. Local life is not only an integral part of Tik Tok content ecology, but also increases the possibility of traffic realization.</p><p>Late LatePost reported that at the end of last year, Byte Commercialization Department set up a \"local direct business center\" for local life business, and about 10,000 employees were adjusted to participate in life services, cultural tourism, catering and other industries for customer mining.</p><p>The reason why local life business is launched in Tik Tok is that among the three major traffic sectors of Tik Tok-local traffic, attention traffic and traffic recommendation, the utilization rate of local traffic is the least, and it is most compatible with local life business, so the realization efficiency will be very high.</p><p>The view of more than one catering business is that the reason why Tik Tok wades in local life is to maximize the traffic realization.</p><p>They are generally optimistic about Tik Tok to store drainage business. But it is not so positive about the noisy \"heart take-out\".</p><p>Tang Xin, an Internet analyst, said that he was not optimistic about Tik Tok doing takeout. \"Because take-out is a purposeful demand scenario, and Tik Tok is more engaged in mining users' non-purposeful needs. Even if bytes can make up for this difference through algorithms and traffic subsidies, it will take a long time to promote the layout.\"</p><p>He also added, \"The most difficult thing about this matter is not to find demand, but to build a merchant ecosystem. This requires a large number of local push teams, which Byte doesn't have at present.\"</p><p>A Meituan take-out employee reported that there was no special atmosphere perceived inside.</p><p>In his view, the core moat of take-out is in two aspects: commodity supply and logistics distribution.</p><p>When users come to you to order takeout, there must be something to choose from. The number of newly signed merchants is still an important indicator of Meituan Takeaway's assessment of BD. Before the antitrust investigation, Meituan asked for exclusive rights and interests from some merchants. Logistics Mission has express delivery and special delivery, and millions of riders are the result of their years of construction. One reference is that the cost of riders alone, the expenditure of Meituan in 2020 reached 48.69 billion yuan.</p><p>Meituan is also wary of hungry counterattack. Therefore, every summer and winter military training, in the form of battle exercises to keep the team alert. Pay special attention to the national catering chain brand and regional brand resources to ensure that they are not lost.</p><p>Based on this, they don't think that cardiac take-out will have a huge impact on the industry structure in a short time.</p><p>The truth is, a common perception of several catering leaders we contacted is that TikTok's understanding of the catering industry needs to be deepened.</p><p>Heart delivery is currently in the internal testing stage, and brands such as Heytea and KFC can realize delivery. Similar to the situation of group buying, it is not connected with the cashier system of the merchant, and the categories of take-out are limited, so it is still a group buying package. No matter the type selection or delivery time, there is no way to guarantee it.</p><p>But anyway, no one can ignore TikTok's offensive on local life.</p><p>At this time, Byte is more like Tencent before 2010, sitting on national-level applications, without shortage of traffic and money, and never giving up the new business growth curve. This is also the reason why Byte has attacked everywhere in education, games, consumption and other fields in the past two years. Most importantly, it is often the adversaries who are threatened.</p><p>In March this year, the ninth anniversary of Byte's founding, Zhang Yiming once called his competitors the best Blues in an internal speech. He cautioned teams to neither run away from competition nor compete for the sake of competition, and if the mindset is unbalanced, some real opportunities will be missed.</p><p>Byte is looking at itself and against others.</p><p>(Xu Yang and Zhang Xuan are pseudonyms in the text)</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>Tik Tok makes Meituan uncomfortable, but not because of heart takeout</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\">\nTik Tok makes Meituan uncomfortable, but not because of heart takeout\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>Tik Tok heart takeout, which has been fermenting for more than a month, has not landed so far.</p><p>Ordinary users can't find the service entrance for heartbeat takeout, which is still in the internal test stage. There are also few merchants providing Tik Tok take-out service. KFC and Heytea both handle take-out orders through their own small programs.</p><p>But that doesn't prevent everyone from speculating about this matter. The interpretation and analysis of takeout for bytes is always the most eye-catching. The topic of \"Heartbeat Takeout\" on Tik Tok has been played 380 million times. Some bloggers even package it as an outlet for ordinary people to realize wealth freedom.</p><p>Perhaps we are all thinking a little too much and exaggerating the influence of Tik Tok doing takeout. At least at this time, it is too early to regard Tik Tok take-out as a force to stir up the market structure.</p><p>Takeout is just a footnote to TikTok's foray into local lifestyle services. Compared with this new business of \"only hearing its voice but not seeing its people\", it's better to pay attention to Tik Tok's in-store consumption first.</p><p>Judging from the internal reaction of the US Mission, it is not Tik Tok take-out that makes them uncomfortable. It is the cannibalization of its advertising revenue by TikTok-to-store business.</p><p><b>01</b></p><p><b>Not getting through</b></p><p>\"I don't know, I haven't heard of it.\" Faced with the store Tik Tok group purchase package displayed by \"Xinmang Daybreak\", the waiters of four restaurants all said they didn't understand. Even if this package can be used, they can't be sure.</p><p>In a large shabu-shabu shop in Chaoyang District, Beijing, the background cashier system did not enter the package of Tik Tok. That is to say, consumers can't place an order after buying the package. After consulting the store manager, they simply recommend us to buy it from the US Mission.</p><p>This is not an isolated case. A founder of a national chain restaurant told \"Xinmang Daybreak\" that regardless of group purchase or take-out, the cashier system of Tik Tok and merchants has not been connected, and a closed loop in a complete sense has not been realized. Group purchase is currently the experience of users holding coupons to the store for writing off, and the whole process is not particularly smooth.</p><p>Local life services, Tik Tok has made a lot of foreshadowing.</p><p>In March last year, Tik Tok launched the \"Tik Tok Group Buying\" function. Now, when you click on the Tik Tok location interface, the preferential group buying service has covered three sections: catering, tourism and accommodation, leisure and entertainment, which is also the whole content of local life.</p><p>A year has passed, and Tik Tok is not optimistic about the establishment of business ecology in stores.</p><p>After our test, there are nearly 100 restaurants within one kilometer, and only 13 have launched Tik Tok group purchase. At the same location and distance, the number of merchants participating in the group purchase of the US Mission is 66. In the field of tourism accommodation, there are still no businesses settled in Beijing, and the nearest hotel is in Langfang City, Hebei Province.</p><p>We learned that despite Byte's huge traffic and brand influence, there are no shortcuts when you want to participate in the game of local life. Think about Ali. After so many years of death, there is no shortage of traffic or money, but there is no shortage of money.</p><p>Xu Yang, the owner of a restaurant in Beijing, revealed to \"Xinmang Daybreak\" that two months ago, Tik Tok's local push came to the door, so they launched a group purchase package. He wasn't sure if he could bring in new customers. Xu Yang's attitude is, \"Tik Tok's group purchase is just hanging, and there is no energy to operate at present.\"</p><p>Later, some adjustments were made to the restaurant dishes, and the local push on Tik Tok never came again, and Xu Yang didn't take the initiative to change the set menu on Tik Tok. As a result, the restaurant has far more group purchase packages in Meituan than TikTok.</p><p>This is not a minority, either. After comparison, we found that in a restaurant chain, Meituan has as many as 19 categories of group purchase discounts, while Tik Tok has only 3 categories.</p><p>The co-founders of a restaurant chain in Guangxi contacted by \"Xinmang Daybreak\" were more straightforward, refusing to participate in Douyin's group buying campaign. The reason is simple. \"The profit of mass catering is thin, and more discounts, that is, drinking poison to quench thirst.\"</p><p>Xu Yang revealed that the group purchase commission of the US Mission is about 2%, while the group purchase of Tik Tok has no commission. The commission is not the key. If the group purchase is less than 30% off, you will lose money. This is also an important reason why Xu Yang doesn't care about Tik Tok group purchase.</p><p>Longyan, nearly 2,000 kilometers away from Beijing, is Zhang Yiming's hometown. Locally, people know this Longyan entrepreneur. But this geographical friendship does not translate into commercial support.</p><p>Zhang Xuan, who has opened a milk tea shop in Longyan for six years, told \"Xinmang Daybreak\" that in the past two months, \"people from Tik Tok come to promote it every day, and sometimes four people can come a day.\" But he just doesn't want to do Tik Tok group buying.</p><p>In Zhang Xuan's view, the group purchase price is too low, basically about 50% off. Group buying can only be kept at a loss, just as advertising. And he was already very busy, unwilling to cause trouble for himself again. Many businesses just hang, but they don't want to do it. \"After all, businesses are not charitable.\"</p><p>According to him, the current local push of Tik Tok is mainly aimed at group purchase, and there is no movement in take-out. I only heard that it was tested internally. Then, he added, \"This is still the world of Meituan.\" Long Yan is also Wang Xing's hometown.</p><p><b>02</b></p><p><b>Threatening Meituan?</b></p><p>Although the promotion results of Tik Tok to the store group purchase are not loud, there is still a tense atmosphere hanging over the US Mission. An insider of the US Mission said, \"There is a feeling of being stabbed by Byte\".</p><p>The most direct result of Tik Tok's involvement in local life is the cannibalization of the advertising revenue of Meituan's in-store business.</p><p>Although the above-mentioned restaurants in Guangxi have not participated in group purchase, they have been planting grass in Tik Tok. Their principle is: \"Meituan is the same as Tik Tok, with more drainage of content display and less drainage of losing profits.\" The specific implementation strategy is: \"Brand grass planting covers the whole city with heavy firepower, and storefront grass planting radiates two or three kilometers.\"</p><p>As a result, with an almost fixed budget every year, Tik Tok increases, and Meituan naturally decreases.</p><p>The logic is to take its course. The demand for merchants' drainage promotion has never changed. All that changes is the carrying form.</p><p>If we say that the era of public comment is dominated by graphic content and short videos are on the rise, Tik Tok, as the largest platform, will naturally carry local life services. And, whether it is reviews or Tik Tok, they all rely on UGC's content creation mode.</p><p>Tik Tok generously plans a series of store visiting activities, encouraging content creators to go to offline stores to create POI videos. After users apply to become group buying experts, they receive tasks in the background, that is, the advertising of merchants. You can get traffic support and commission dividends by shooting punch-in videos with locations.</p><p>The founder of the above-mentioned national chain restaurant also believes that compared with home, Tik Tok's arrival at the store is more logical. \"If a closed loop can be formed, the experience of merchants and consumers will be smoother, and the future traffic plate will be larger.\"</p><p>The biggest question of insiders in the US Mission is whether the top management has a plan to deal with Tik Tok's increasing penetration into the store business.</p><p>Since the merger of reviews in 2015, the US Mission has been going to reviews in recent years. When Xiaohongshu first invaded local life across the border, the comments were unresponsive. When Tik Tok attacked aggressively, he didn't see the action of reviews. Even comments once reported the news of layoffs.</p><p>The problem is that the marginalized comments actually have very good cash flow in many businesses. For example, catering, beauty, wedding, etc. These incomes are feeding back the innovative business of Meituan, while the core business takeaway has not been profitable so far. It is not a good thing if Tik Tok's aggressive attack has a substantial impact on Meituan's advertising revenue.</p><p>Does this count as a mistake by Meituan? \"We shouldn't just watch it happen. At least put on your protective clothes before someone tries to stab you?\"</p><p><b>03</b></p><p><b>How determined is TikTok to do takeout?</b></p><p>The in-store business has not been solid yet. Why is Tik Tok eager to launch take-out business?</p><p>From the perspective of market size, the take-out of high-frequency demand is a good business. Meituan's annual revenue in 2020 has reached 114.8 billion yuan, of which the food delivery business is strong, with the annual transaction amount increasing by 24.5% year-on-year, and the revenue reached 66.3 billion yuan, accounting for about 58% of the total revenue.</p><p>According to iResearch, by 2025, the domestic local life service market will grow from 19.5 trillion yuan in 2020 to 35.3 trillion yuan. Among them, the online penetration rate of life services is only 12.7%. In other words, the main competition location of this 10,000-level market is still offline.</p><p>With such a huge market, Byte naturally won't let it go. Local life is not only an integral part of Tik Tok content ecology, but also increases the possibility of traffic realization.</p><p>Late LatePost reported that at the end of last year, Byte Commercialization Department set up a \"local direct business center\" for local life business, and about 10,000 employees were adjusted to participate in life services, cultural tourism, catering and other industries for customer mining.</p><p>The reason why local life business is launched in Tik Tok is that among the three major traffic sectors of Tik Tok-local traffic, attention traffic and traffic recommendation, the utilization rate of local traffic is the least, and it is most compatible with local life business, so the realization efficiency will be very high.</p><p>The view of more than one catering business is that the reason why Tik Tok wades in local life is to maximize the traffic realization.</p><p>They are generally optimistic about Tik Tok to store drainage business. But it is not so positive about the noisy \"heart take-out\".</p><p>Tang Xin, an Internet analyst, said that he was not optimistic about Tik Tok doing takeout. \"Because take-out is a purposeful demand scenario, and Tik Tok is more engaged in mining users' non-purposeful needs. Even if bytes can make up for this difference through algorithms and traffic subsidies, it will take a long time to promote the layout.\"</p><p>He also added, \"The most difficult thing about this matter is not to find demand, but to build a merchant ecosystem. This requires a large number of local push teams, which Byte doesn't have at present.\"</p><p>A Meituan take-out employee reported that there was no special atmosphere perceived inside.</p><p>In his view, the core moat of take-out is in two aspects: commodity supply and logistics distribution.</p><p>When users come to you to order takeout, there must be something to choose from. The number of newly signed merchants is still an important indicator of Meituan Takeaway's assessment of BD. Before the antitrust investigation, Meituan asked for exclusive rights and interests from some merchants. Logistics Mission has express delivery and special delivery, and millions of riders are the result of their years of construction. One reference is that the cost of riders alone, the expenditure of Meituan in 2020 reached 48.69 billion yuan.</p><p>Meituan is also wary of hungry counterattack. Therefore, every summer and winter military training, in the form of battle exercises to keep the team alert. Pay special attention to the national catering chain brand and regional brand resources to ensure that they are not lost.</p><p>Based on this, they don't think that cardiac take-out will have a huge impact on the industry structure in a short time.</p><p>The truth is, a common perception of several catering leaders we contacted is that TikTok's understanding of the catering industry needs to be deepened.</p><p>Heart delivery is currently in the internal testing stage, and brands such as Heytea and KFC can realize delivery. Similar to the situation of group buying, it is not connected with the cashier system of the merchant, and the categories of take-out are limited, so it is still a group buying package. No matter the type selection or delivery time, there is no way to guarantee it.</p><p>But anyway, no one can ignore TikTok's offensive on local life.</p><p>At this time, Byte is more like Tencent before 2010, sitting on national-level applications, without shortage of traffic and money, and never giving up the new business growth curve. This is also the reason why Byte has attacked everywhere in education, games, consumption and other fields in the past two years. Most importantly, it is often the adversaries who are threatened.</p><p>In March this year, the ninth anniversary of Byte's founding, Zhang Yiming once called his competitors the best Blues in an internal speech. He cautioned teams to neither run away from competition nor compete for the sake of competition, and if the mindset is unbalanced, some real opportunities will be missed.</p><p>Byte is looking at itself and against others.</p><p>(Xu Yang and Zhang Xuan are pseudonyms in the text)</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":1026,"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":[],"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":2426,"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":[],"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":651,"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":[],"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":404,"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":[],"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's pre-loss exceeded 3.8 billion yuan last year. Is there a play for this year's comeback?","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>Will suffer the first loss since listing.</p><p>On February 21st, Haidilao issued a profit warning — —<b>It is expected to lose 3.8 billion to 4.5 billion yuan for the full year of 2021.</b>According to the financial report, from 2018 to 2020, Haidilao's net profit was 1.646 billion yuan, 2.345 billion yuan and 309 million yuan respectively, totaling about 4.3 billion yuan. In other words, Haidilao, which also made a profit of 94.529 million yuan in the first half of 2021,<b>In only half a year, he almost lost all the profits of three years of listing.</b></p><p>In response to the reason for the loss, Haidilao said,<b>In 2021, more than 300 restaurants were closed, as well as the decline in restaurant performance and other factors, resulting in one-time losses and impairment losses on disposal of long-term assets (buildings, equipment, etc.) totaling approximately 3.3 billion to 3.9 billion yuan.</b>In addition, Haidilao also mentioned the impact of the pandemic, rapid expansion, and internal management problems.</p><p>Haidilao's profit dropped sharply, and the attitude of the keen capital market towards the once \"myth of the catering industry\" was the same.</p><p>As of the close of trading on February 22nd, Haidilao reported HK$ 18.92/share, with a total market value of HK$ 105.5 billion (about RMB 85.737 billion). In February 2021, Haidilao's share price reached a historical peak of HK$85.75 per share, and its total market value was once close to HK$470 billion (approximately RMB381.958 billion).<b>In contrast, Haidilao evaporated nearly 300 billion yuan in one year.</b></p><p>Haidilao once became a \"phenomenal\" existence with its high-quality service. Before it went public, it relied on tens of billions of revenue and was called the \"aircraft carrier\" of the catering industry. Nowadays, Haidilao not only suffers a sharp drop in profit and stock price, but also keeps falling into the public opinion of price increase, shortage of pounds and even food safety.</p><p>Has Haidilao skimmed the bubble, or is it going to fall to the bottom of the sea?</p><p><b>Emergency braking closes 1/5 stores</b></p><p>How fast has Haidilao expanded in recent years? As of 2017, before listing, Haidilao was founded for 23 years, with a total of only 273 stores. After listing, Haidilao began to accelerate its expansion-a net increase of 193 stores in 2018; 308 new openings in 2019; In 2020, the pandemic continued to expand by 544; In the first half of 2021, 299 new businesses were added again.</p><p>Rapid expansion strategies stimulate the nerves of investors in the secondary market. Since its listing on September 26, 2018, Haidilao's share price has reached a record high of HK$85.75 per share from the issue price of HK$17.8 per share to February 2021, with a total market value once close to HK$470 billion.</p><p><b>Haidilao founders Zhang Yong and his wife and second-in-command Shi Yonghong placed 70.5 million shares at a price of HK$33.2 per share on May 6, 2020, cashing out a total of 2.34 billion yuan.</b></p><p>In November 2021, Haidilao suddenly took the initiative to brake, announcing the gradual closure of about 300 stores that failed to meet expectations, some of which will be temporarily rested and reopened at an opportunity, with a maximum rest period of no more than two years.</p><p>As for the reason for closing the store, Haidilao said that the operation of the stores planned to be closed failed to meet expectations, which was caused by the rapid expansion strategy formulated in 2019. Specifically, it includes the wrong location of some stores, the change of organizational structure that makes managers too tired, the number of excellent managers is insufficient, the KPI indicators of overbelief in connected interests are overbelieved, and the construction of corporate culture is insufficient.</p><p>As of June 30, 2021, the number of Haidilao stores worldwide reached 1,597. The closure of 300 stores means that the number of stores in Haidilao will be reduced by 1/5.</p><p><img src=\"https://static.tigerbbs.com/ddefb76a367ec0d40497a273ae82b807\" tg-width=\"506\" tg-height=\"380\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>Behind the survival of the broken arm, Haidilao is trapped in the dark cloud of \"increasing income without increasing profits\".</p><p>According to the announcement, Haidilao's revenue in 2021 is expected to exceed RMB 40 billion, compared with the revenue of about RMB 28.6 billion in 2020, an increase of more than 40%.</p><p>The revenue hit a record high, but the net profit is expected to lose 3.8 billion yuan to 4.5 billion yuan. The reason behind this is closely related to the turnover rate. Table turnover rate refers to the average number of times each table is used in a restaurant in a day. It is recognized as the core data of the catering industry, which is directly related to the income of the restaurant and directly reflects the customer's love for the restaurant.</p><p>In 2018, Haidilao served 160 million people, with an average turnover rate of 5.2 times/day, almost the highest turnover rate in the catering industry. However, in recent years, the turnover rate of Haidilao has declined continuously.<b>In 2019 and 2020, the turnover rate of Haidilao was 4.8 times/day and 3.5 times/day, respectively, and directly dropped to 3 times/day in 2021.</b></p><p>The enthusiasm of the capital market is not directly proportional to the word-of-mouth in the market.</p><p>According to incomplete statistics, Haidilao has been on the hot search for more than 35 times in 2021, and there are many negative topics, such as \"Haidilao beef grains have changed\", \"Zhengzhou Haidilao 72 yuan 200 grams of tripe is actually only 138 grams\" and so on.</p><p>On the evening of November 1, 2021, the topic \"Haidilao Douhua was fined 20,000 yuan for expiration\" also topped the hot search list.</p><p>In the case of increasing income and increasing profits, Haidilao's signature quality \"shrank\", its reputation declined or affected diners' patronage, and it fell into an a vicious circle.</p><p><b>\"Master-Apprentice System\" Stalled</b></p><p>As early as the beginning of 2021, a number of media reported the phenomenon of \"closure tide\" of Haidilao stores in Beijing. The main reason is improper site selection.</p><p>According to Caijing.com,<b>According to a person familiar with the matter, \"In fact, Haidilao signed more than 600 stores last year (2020), but actually only opened more than 300 stores. Haidilao lowered the standard of opening stores, but now it has found a 'stall', and recently stopped some unoptimistic stores.\"</b></p><p>The person familiar with the matter also said, \"Sanlitun is only 4.4 kilometers away from Youtang. Within this range, there are nearly six stores, such as SOHO Store, 3.3 Store, Huapu Shopping Store, Ritan Store and Youtang Store under renovation. For catering brands that go to dinner, they generally don't tend to open two stores within three kilometers.\"</p><p>Generally speaking, the location of a brand's stores is mainly led by development and development personnel. In Haidilao, the store manager, that is, \"Master\", is currently responsible for the location of the store.</p><p>All along, the \"master-apprentice system\" has been a proud management tool of Haidilao in the industry.</p><p><img src=\"https://static.tigerbbs.com/01da9343a6182c8a27185ded836ac8a1\" tg-width=\"1080\" tg-height=\"776\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>According to Haidilao's prospectus, in addition to the basic salary, the remuneration of a store manager as a master can also be rewarded with 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 apprentice and grandson restaurants * apprentice and grandson restaurant profit 1.5%</b></p><p>Take the monthly profit of 1 million yuan in your own restaurant as an example. If the store manager only does his own restaurant well, he can get a bonus of 28,000 yuan; However, if the store manager takes out two apprentice shops (the monthly profit is also 1 million), the profit share of the store manager only can reach 2*100*3.1% =62,000.</p><p>Under such a salary structure, the wealth myth of Haidilao store manager's highest annual salary of 6 million yuan was created.</p><p>It is also driven by the \"master-apprentice system\" management mode that there is such a huge number of stores in Haidilao \"empire\". Previously, some market voices thought that:<b>\"Haidilao didn't start by service. Its secret is 'pyramid scheme', which is a master-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 Master takes his apprentice to open a store, he will definitely do his best to choose a new store location with the greatest commercial potential and the highest rate of return. However, if it is only the development specialist who decides, it is very likely that there will be a risk of wrong site selection because he does not need to be responsible for future operations. The probabilities between the two are very different.\"</p><p>In June 2021, at the annual general meeting of Haidilao, Chairman Zhang Yong publicly reflected,<b>Acknowledging that the decision to make the store expansion in June 2020 was wrong. In the announcement issued on November 5, 2021, Haidilao once again admitted the phenomenon of \"mistakes in location selection of some stores\" caused by the rapid expansion strategy. The root cause is the interest chain of \"master-apprentice system\" store opening.</b></p><p><b>The tuition was not paid in vain</b></p><p>At the same time, Haidilao announced the launch of the \"Woodpecker\" plan, continued to pay attention to stores with poor operating performance, strengthened internal management and assessment mechanism, and reduced business expansion.<b>Before the company's operating conditions are comprehensively improved, the company will shrink the Group's business expansion plan in due course, and the average turnover rate will not reach 4 times/day. In principle, new branches will not be opened on a large scale.</b></p><p>It can be seen that Haidilao has realized that there are extremely high risks in the economic downturn and contrarian expansion during the epidemic period, and its own management mode needs to be improved. This time, the tuition was not paid in vain.</p><p>However, where does Haidilao go next?</p><p>Zhu Danpeng, a food industry analyst, believes that on the whole, Haidilao's strategy can be described as \"surviving with a broken arm\", which should be a more correct approach, and there is not much room for expansion in Haidilao in the future.</p><p>At present, the hot pot track is churning in the Red Sea, and high-end and segmentation have become a trend.</p><p>According to the report of \"China Catering Big Data 2020\", with the development of the industry and the improvement of residents' disposable income level, the number of stores with a customer unit price of 120 yuan and above accounts for a small amount of hot pot restaurants in China, but it is growing rapidly, while the number of stores with a customer unit price of 30 yuan and below has experienced negative growth in all tier cities.</p><p>Among them, the competition among the top hot pot brands is more intense.</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, and has become a strong rival in Haidilao's next development road.<b>Take the per capita consumption on public comments as an example. Searching for Coucou hot pot in Shanghai, the price range is 150-170 yuan, and the price range of Haidilao is 100-150 yuan. In terms of unit price, the hot pot has exceeded the price of Haidilao.</b></p><p><img src=\"https://static.tigerbbs.com/feaef3a3216232fae7d71ad90cfb1153\" tg-width=\"506\" tg-height=\"379\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>In terms of service, at the end of 2020, Coucou launched the first new model store of \"hot pot + tavern + tea drink\" in China, selling hot pot at noon, milk tea in the afternoon, and turning it into a bar at night. In the hot pot restaurant, \"Bundy\" directly benchmarks Haidilao's \"hair washing\" and \"nail art\" in the hot pot restaurant. Haidilao has always been famous for its \"good service\", and it is possible to replace \"Haidilao-style service\" by making differentiated service forms.</p><p>Meanwhile, brand rookies appeared one after another to carve up the cake.</p><p>August 2021,<b>Brother Zhou Hot Pot received hundreds of millions of yuan in Series A financing from Black Ant Capital; Banu Maodu Hot Pot also said that it will complete a new round of financing of over 500 million yuan, led by CPE Yuanfeng Capital, followed by Sunchu Capital, Gaorong Capital and Tomato Capital.</b></p><p>However, some analysts pointed out that Haidilao still has potential room for growth-continuing to expand horizontally around the hot pot scene.</p><p>At present, Haidilao has made hot pot ingredients supermarket, ready-made food, fast food, and also opened a \"milk tea shop\". At the end of last year, Haidilao launched seven products, namely pot bottom, dishes and snacks, and 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 3.5 billion yuan of cash and cash equivalents, which will undoubtedly increase the possibility and confidence of Haidilao's horizontal expansion.</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's pre-loss exceeded 3.8 billion yuan last year. Is there a play for this year's comeback?</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's pre-loss exceeded 3.8 billion yuan last year. Is there a play for this year's comeback?\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>Will suffer the first loss since listing.</p><p>On February 21st, Haidilao issued a profit warning — —<b>It is expected to lose 3.8 billion to 4.5 billion yuan for the full year of 2021.</b>According to the financial report, from 2018 to 2020, Haidilao's net profit was 1.646 billion yuan, 2.345 billion yuan and 309 million yuan respectively, totaling about 4.3 billion yuan. In other words, Haidilao, which also made a profit of 94.529 million yuan in the first half of 2021,<b>In only half a year, he almost lost all the profits of three years of listing.</b></p><p>In response to the reason for the loss, Haidilao said,<b>In 2021, more than 300 restaurants were closed, as well as the decline in restaurant performance and other factors, resulting in one-time losses and impairment losses on disposal of long-term assets (buildings, equipment, etc.) totaling approximately 3.3 billion to 3.9 billion yuan.</b>In addition, Haidilao also mentioned the impact of the pandemic, rapid expansion, and internal management problems.</p><p>Haidilao's profit dropped sharply, and the attitude of the keen capital market towards the once \"myth of the catering industry\" was the same.</p><p>As of the close of trading on February 22nd, Haidilao reported HK$ 18.92/share, with a total market value of HK$ 105.5 billion (about RMB 85.737 billion). In February 2021, Haidilao's share price reached a historical peak of HK$85.75 per share, and its total market value was once close to HK$470 billion (approximately RMB381.958 billion).<b>In contrast, Haidilao evaporated nearly 300 billion yuan in one year.</b></p><p>Haidilao once became a \"phenomenal\" existence with its high-quality service. Before it went public, it relied on tens of billions of revenue and was called the \"aircraft carrier\" of the catering industry. Nowadays, Haidilao not only suffers a sharp drop in profit and stock price, but also keeps falling into the public opinion of price increase, shortage of pounds and even food safety.</p><p>Has Haidilao skimmed the bubble, or is it going to fall to the bottom of the sea?</p><p><b>Emergency braking closes 1/5 stores</b></p><p>How fast has Haidilao expanded in recent years? As of 2017, before listing, Haidilao was founded for 23 years, with a total of only 273 stores. After listing, Haidilao began to accelerate its expansion-a net increase of 193 stores in 2018; 308 new openings in 2019; In 2020, the pandemic continued to expand by 544; In the first half of 2021, 299 new businesses were added again.</p><p>Rapid expansion strategies stimulate the nerves of investors in the secondary market. Since its listing on September 26, 2018, Haidilao's share price has reached a record high of HK$85.75 per share from the issue price of HK$17.8 per share to February 2021, with a total market value once close to HK$470 billion.</p><p><b>Haidilao founders Zhang Yong and his wife and second-in-command Shi Yonghong placed 70.5 million shares at a price of HK$33.2 per share on May 6, 2020, cashing out a total of 2.34 billion yuan.</b></p><p>In November 2021, Haidilao suddenly took the initiative to brake, announcing the gradual closure of about 300 stores that failed to meet expectations, some of which will be temporarily rested and reopened at an opportunity, with a maximum rest period of no more than two years.</p><p>As for the reason for closing the store, Haidilao said that the operation of the stores planned to be closed failed to meet expectations, which was caused by the rapid expansion strategy formulated in 2019. Specifically, it includes the wrong location of some stores, the change of organizational structure that makes managers too tired, the number of excellent managers is insufficient, the KPI indicators of overbelief in connected interests are overbelieved, and the construction of corporate culture is insufficient.</p><p>As of June 30, 2021, the number of Haidilao stores worldwide reached 1,597. The closure of 300 stores means that the number of stores in Haidilao will be reduced by 1/5.</p><p><img src=\"https://static.tigerbbs.com/ddefb76a367ec0d40497a273ae82b807\" tg-width=\"506\" tg-height=\"380\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>Behind the survival of the broken arm, Haidilao is trapped in the dark cloud of \"increasing income without increasing profits\".</p><p>According to the announcement, Haidilao's revenue in 2021 is expected to exceed RMB 40 billion, compared with the revenue of about RMB 28.6 billion in 2020, an increase of more than 40%.</p><p>The revenue hit a record high, but the net profit is expected to lose 3.8 billion yuan to 4.5 billion yuan. The reason behind this is closely related to the turnover rate. Table turnover rate refers to the average number of times each table is used in a restaurant in a day. It is recognized as the core data of the catering industry, which is directly related to the income of the restaurant and directly reflects the customer's love for the restaurant.</p><p>In 2018, Haidilao served 160 million people, with an average turnover rate of 5.2 times/day, almost the highest turnover rate in the catering industry. However, in recent years, the turnover rate of Haidilao has declined continuously.<b>In 2019 and 2020, the turnover rate of Haidilao was 4.8 times/day and 3.5 times/day, respectively, and directly dropped to 3 times/day in 2021.</b></p><p>The enthusiasm of the capital market is not directly proportional to the word-of-mouth in the market.</p><p>According to incomplete statistics, Haidilao has been on the hot search for more than 35 times in 2021, and there are many negative topics, such as \"Haidilao beef grains have changed\", \"Zhengzhou Haidilao 72 yuan 200 grams of tripe is actually only 138 grams\" and so on.</p><p>On the evening of November 1, 2021, the topic \"Haidilao Douhua was fined 20,000 yuan for expiration\" also topped the hot search list.</p><p>In the case of increasing income and increasing profits, Haidilao's signature quality \"shrank\", its reputation declined or affected diners' patronage, and it fell into an a vicious circle.</p><p><b>\"Master-Apprentice System\" Stalled</b></p><p>As early as the beginning of 2021, a number of media reported the phenomenon of \"closure tide\" of Haidilao stores in Beijing. The main reason is improper site selection.</p><p>According to Caijing.com,<b>According to a person familiar with the matter, \"In fact, Haidilao signed more than 600 stores last year (2020), but actually only opened more than 300 stores. Haidilao lowered the standard of opening stores, but now it has found a 'stall', and recently stopped some unoptimistic stores.\"</b></p><p>The person familiar with the matter also said, \"Sanlitun is only 4.4 kilometers away from Youtang. Within this range, there are nearly six stores, such as SOHO Store, 3.3 Store, Huapu Shopping Store, Ritan Store and Youtang Store under renovation. For catering brands that go to dinner, they generally don't tend to open two stores within three kilometers.\"</p><p>Generally speaking, the location of a brand's stores is mainly led by development and development personnel. In Haidilao, the store manager, that is, \"Master\", is currently responsible for the location of the store.</p><p>All along, the \"master-apprentice system\" has been a proud management tool of Haidilao in the industry.</p><p><img src=\"https://static.tigerbbs.com/01da9343a6182c8a27185ded836ac8a1\" tg-width=\"1080\" tg-height=\"776\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>According to Haidilao's prospectus, in addition to the basic salary, the remuneration of a store manager as a master can also be rewarded with 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 apprentice and grandson restaurants * apprentice and grandson restaurant profit 1.5%</b></p><p>Take the monthly profit of 1 million yuan in your own restaurant as an example. If the store manager only does his own restaurant well, he can get a bonus of 28,000 yuan; However, if the store manager takes out two apprentice shops (the monthly profit is also 1 million), the profit share of the store manager only can reach 2*100*3.1% =62,000.</p><p>Under such a salary structure, the wealth myth of Haidilao store manager's highest annual salary of 6 million yuan was created.</p><p>It is also driven by the \"master-apprentice system\" management mode that there is such a huge number of stores in Haidilao \"empire\". Previously, some market voices thought that:<b>\"Haidilao didn't start by service. Its secret is 'pyramid scheme', which is a master-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 Master takes his apprentice to open a store, he will definitely do his best to choose a new store location with the greatest commercial potential and the highest rate of return. However, if it is only the development specialist who decides, it is very likely that there will be a risk of wrong site selection because he does not need to be responsible for future operations. The probabilities between the two are very different.\"</p><p>In June 2021, at the annual general meeting of Haidilao, Chairman Zhang Yong publicly reflected,<b>Acknowledging that the decision to make the store expansion in June 2020 was wrong. In the announcement issued on November 5, 2021, Haidilao once again admitted the phenomenon of \"mistakes in location selection of some stores\" caused by the rapid expansion strategy. The root cause is the interest chain of \"master-apprentice system\" store opening.</b></p><p><b>The tuition was not paid in vain</b></p><p>At the same time, Haidilao announced the launch of the \"Woodpecker\" plan, continued to pay attention to stores with poor operating performance, strengthened internal management and assessment mechanism, and reduced business expansion.<b>Before the company's operating conditions are comprehensively improved, the company will shrink the Group's business expansion plan in due course, and the average turnover rate will not reach 4 times/day. In principle, new branches will not be opened on a large scale.</b></p><p>It can be seen that Haidilao has realized that there are extremely high risks in the economic downturn and contrarian expansion during the epidemic period, and its own management mode needs to be improved. This time, the tuition was not paid in vain.</p><p>However, where does Haidilao go next?</p><p>Zhu Danpeng, a food industry analyst, believes that on the whole, Haidilao's strategy can be described as \"surviving with a broken arm\", which should be a more correct approach, and there is not much room for expansion in Haidilao in the future.</p><p>At present, the hot pot track is churning in the Red Sea, and high-end and segmentation have become a trend.</p><p>According to the report of \"China Catering Big Data 2020\", with the development of the industry and the improvement of residents' disposable income level, the number of stores with a customer unit price of 120 yuan and above accounts for a small amount of hot pot restaurants in China, but it is growing rapidly, while the number of stores with a customer unit price of 30 yuan and below has experienced negative growth in all tier cities.</p><p>Among them, the competition among the top hot pot brands is more intense.</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, and has become a strong rival in Haidilao's next development road.<b>Take the per capita consumption on public comments as an example. Searching for Coucou hot pot in Shanghai, the price range is 150-170 yuan, and the price range of Haidilao is 100-150 yuan. In terms of unit price, the hot pot has exceeded the price of Haidilao.</b></p><p><img src=\"https://static.tigerbbs.com/feaef3a3216232fae7d71ad90cfb1153\" tg-width=\"506\" tg-height=\"379\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Can Gallery</p><p>In terms of service, at the end of 2020, Coucou launched the first new model store of \"hot pot + tavern + tea drink\" in China, selling hot pot at noon, milk tea in the afternoon, and turning it into a bar at night. In the hot pot restaurant, \"Bundy\" directly benchmarks Haidilao's \"hair washing\" and \"nail art\" in the hot pot restaurant. Haidilao has always been famous for its \"good service\", and it is possible to replace \"Haidilao-style service\" by making differentiated service forms.</p><p>Meanwhile, brand rookies appeared one after another to carve up the cake.</p><p>August 2021,<b>Brother Zhou Hot Pot received hundreds of millions of yuan in Series A financing from Black Ant Capital; Banu Maodu Hot Pot also said that it will complete a new round of financing of over 500 million yuan, led by CPE Yuanfeng Capital, followed by Sunchu Capital, Gaorong Capital and Tomato Capital.</b></p><p>However, some analysts pointed out that Haidilao still has potential room for growth-continuing to expand horizontally around the hot pot scene.</p><p>At present, Haidilao has made hot pot ingredients supermarket, ready-made food, fast food, and also opened a \"milk tea shop\". At the end of last year, Haidilao launched seven products, namely pot bottom, dishes and snacks, and 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 3.5 billion yuan of cash and cash equivalents, which will undoubtedly increase the possibility and confidence of Haidilao's horizontal expansion.</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":{"06862":"海底捞","BK1591":"就地过年概念","BK1233":"餐馆","BK1583":"高瓴概念","BK1589":"北水核心资产","BK1604":"节假日概念"},"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":2813,"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":[],"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":2929,"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":[],"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":"The Spring Festival is approaching, holding shares or holding coins","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>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold money or hold shares for the New Year. Therefore, this paper statistically reviews the performance of A-share market around the Spring Festival from 2010 to 2021 for investors' reference.</p><p><b>The effect of A-share Spring Festival is remarkable, and the probability of market rise before and after the holiday is high. In the past decade or so, the red envelope of Spring Festival in A-share market has obvious characteristics of low risk and high return.</b>From the perspective of increase, in the past 12 years, the average cumulative yield of wind All A in the five trading days before the Spring Festival is 1.9%, and the median is 2.6%, and the average cumulative yield in the five trading days after the Spring Festival is 1.4%, and the median is 1.8%. Moreover, the market performance during the Spring Festival over the years is obviously more stable than that of the whole year, that is to say, compared with the overall increase of the whole year, the market red envelopes during the Spring Festival have obvious characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and GEM Index performed better than the Shanghai Composite Index, and the small and medium-sized cap indexes such as CSI 500 and CSI 1000 were better than the heavyweight indexes such as SSE 50 and CSI 300.</b>From the perspective of increase, in the past 12 years, the median cumulative yields of the GEM index in the five trading days before/after the Spring Festival were 2.4% and 4.1% respectively, and the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative yield of the National Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival was 2.0% and 4.4% respectively, while the CSI 300 Index was 1.9% and 0.6%.</p><p><b>Judging from the performance of various industries, the first-level industries in Shenwan generally closed up with a high probability around the Spring Festival, and the nonferrous metals, electronics, computer and other sectors performed relatively well.</b>The non-ferrous metals sector posted a median gain of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, which was the best performer among all sectors. In the five trading days after the Spring Festival, the median cumulative increase is still the best performance of the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good.</p><p><b>Judging from the performance of each style index, each major style index also has a high probability of closing up around the Spring Festival, and the style of high P/E is better than that of low P/E, the style of high-priced stocks is better than that of low-priced stocks, and the style of low-profit stocks with losses is better than that of blue-chip stocks.</b>The median accumulated gains of high-P/E stock styles in the five trading days before/after the Spring Festival between 2010 and 2021 were 2.5% and 3.4%, respectively, better than the 1.9% and 0.6% of low-P/E stocks. The median accumulated gains of high-priced stock style in the five trading days before/after the Spring Festival in the past 10 years are 3.3% and 1.6% respectively, which is better than that of low-priced stocks of 1.1% and 2.4%. The median accumulated gains of loss-making stock style in the five trading days before/after the Spring Festival in the past 10 years are 2.3% and 4.2% respectively, which are better than the 2.5% and 0.6% of blue-chip stocks overall.</p><p>Risk: The macroeconomy is less than expected, overseas markets fluctuate greatly, and historical experience does not represent the future.</p><p>The text is as follows:</p><p>Holding shares or holding currencies, combing the market characteristics before and after the Spring Festival</p><p>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold money or hold shares for the New Year. Therefore, this paper reviews the performance of A-share market around the Spring Festival in the past ten years for investors' reference.</p><p>1. A-share Spring Festival effect is significant, and the probability of market rise before and after the holiday is high</p><p>A-share Spring Festival effect is significant, and the probability of market rise before and after the holiday is relatively high. We have summarized the performance of the yield before and after the Spring Festival from 2010 to 2021. Generally speaking, the performance of the A-share market before and after the Spring Festival is good in most cases, and the rising probability of major broad-based indexes is relatively high. In the past 12 years, in 9 years, the accumulated income of wind All A has risen in 5 trading days before and 5 trading days after the holiday, that is, the probability of increase is as high as 75%. In these 12 years, only 8 years of annual accumulated income of wind All A have been positive. Therefore, from the perspective of probability, there is indeed a significant Spring Festival effect in the performance of A-share market.</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>From the perspective of ups and downs, the Spring Festival red envelopes in the A-share market in the past decade or so have obvious characteristics of low risk and high return.</b>From the perspective of increase, in the past 12 years, the average cumulative yield of wind All A in the five trading days before the Spring Festival is 1.9%, and the median is 2.6%, and the average cumulative yield in the five trading days after the Spring Festival is 1.4%, and the median is 1.8%. And from the perspective of volatility, the market performance during the Spring Festival over the years is obviously more stable than that of the whole year, that is to say, compared with the overall increase of the whole year, the market red envelopes during the Spring Festival have obvious characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and GEM Index performed better than the Shanghai Composite Index, and the small and medium-sized cap indexes such as CSI 500 and CSI 1000 were better than the heavyweight indexes such as SSE 50 and CSI 300.</b>From the perspective of increase, in the past 12 years, the median cumulative yields of the GEM index in the five trading days before/after the Spring Festival were 2.4% and 4.1% respectively, and the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative yield of the National Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival was 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. Nonferrous, electronic and computer performance is relatively dominant</p><p><b>Judging from the performance of various industries, in the past 10 years, the cumulative closing probability of each first-level industry in Shenwan in the five trading days before and after the Spring Festival is generally above 50%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, the first-class industry of Shenwan performed better before and after the holiday, and the number of increases was much higher than the number of declines. Among them, the pharmaceutical and biological industry has all risen in the five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and a probability of rising as high as 92% in the five trading days after the Spring Festival. In addition, the probability of rising the electronic and electrical equipment industries in the five trading days before and after the holiday is also above 80%.</p><p><b>Judging from the absolute data of the ups and downs of various industries, the performance of nonferrous metals, electronics, computers and other sectors around the Spring Festival is relatively good, while the performance of the financial sector is relatively low.</b>The non-ferrous metals sector posted a median gain of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, which was the best performer among all sectors. In the five trading days after the Spring Festival, the median cumulative increase is still the best performance of the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good, while the financial sector performs relatively poorly in 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 blue-chip stocks</p><p><b>Judging from the performance of various style indexes, the probability that the main style indexes of the A-share market will close up in the five trading days before and after the Spring Festival is generally above 60%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed better before and after the holiday, and the number of rises was also much higher than the number of declines. Among them, the high P/E style index has a rising probability of more than 80% in the past 12 years in the five trading days before/after the Spring Festival.</p><p><b>Judging from the absolute value data of the ups and downs of each style index, around the Spring Festival, the style of high P/E is better than that of low P/E, the style of high-priced stocks is better than that of low-priced stocks, and the style of low-profit stocks is better than that of blue-chip stocks.</b>The median accumulated gains of high-P/E stock styles in the five trading days before/after the Spring Festival between 2010 and 2021 were 2.5% and 3.4%, respectively, better than the 1.9% and 0.6% of low-P/E stocks. The median accumulated gains of high-priced stock style in the five trading days before/after the Spring Festival in the past 10 years are 3.3% and 1.6% respectively, which is better than that of low-priced stocks of 1.1% and 2.4%. The median accumulated gains of loss-making stock style in the five trading days before/after the Spring Festival in the past 10 years are 2.3% and 4.2% respectively, which are better than the 2.5% and 0.6% of blue-chip 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>The Spring Festival is approaching, holding shares or holding coins</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Spring Festival is approaching, holding shares or holding coins\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>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold money or hold shares for the New Year. Therefore, this paper statistically reviews the performance of A-share market around the Spring Festival from 2010 to 2021 for investors' reference.</p><p><b>The effect of A-share Spring Festival is remarkable, and the probability of market rise before and after the holiday is high. In the past decade or so, the red envelope of Spring Festival in A-share market has obvious characteristics of low risk and high return.</b>From the perspective of increase, in the past 12 years, the average cumulative yield of wind All A in the five trading days before the Spring Festival is 1.9%, and the median is 2.6%, and the average cumulative yield in the five trading days after the Spring Festival is 1.4%, and the median is 1.8%. Moreover, the market performance during the Spring Festival over the years is obviously more stable than that of the whole year, that is to say, compared with the overall increase of the whole year, the market red envelopes during the Spring Festival have obvious characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and GEM Index performed better than the Shanghai Composite Index, and the small and medium-sized cap indexes such as CSI 500 and CSI 1000 were better than the heavyweight indexes such as SSE 50 and CSI 300.</b>From the perspective of increase, in the past 12 years, the median cumulative yields of the GEM index in the five trading days before/after the Spring Festival were 2.4% and 4.1% respectively, and the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative yield of the National Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival was 2.0% and 4.4% respectively, while the CSI 300 Index was 1.9% and 0.6%.</p><p><b>Judging from the performance of various industries, the first-level industries in Shenwan generally closed up with a high probability around the Spring Festival, and the nonferrous metals, electronics, computer and other sectors performed relatively well.</b>The non-ferrous metals sector posted a median gain of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, which was the best performer among all sectors. In the five trading days after the Spring Festival, the median cumulative increase is still the best performance of the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good.</p><p><b>Judging from the performance of each style index, each major style index also has a high probability of closing up around the Spring Festival, and the style of high P/E is better than that of low P/E, the style of high-priced stocks is better than that of low-priced stocks, and the style of low-profit stocks with losses is better than that of blue-chip stocks.</b>The median accumulated gains of high-P/E stock styles in the five trading days before/after the Spring Festival between 2010 and 2021 were 2.5% and 3.4%, respectively, better than the 1.9% and 0.6% of low-P/E stocks. The median accumulated gains of high-priced stock style in the five trading days before/after the Spring Festival in the past 10 years are 3.3% and 1.6% respectively, which is better than that of low-priced stocks of 1.1% and 2.4%. The median accumulated gains of loss-making stock style in the five trading days before/after the Spring Festival in the past 10 years are 2.3% and 4.2% respectively, which are better than the 2.5% and 0.6% of blue-chip stocks overall.</p><p>Risk: The macroeconomy is less than expected, overseas markets fluctuate greatly, and historical experience does not represent the future.</p><p>The text is as follows:</p><p>Holding shares or holding currencies, combing the market characteristics before and after the Spring Festival</p><p>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold money or hold shares for the New Year. Therefore, this paper reviews the performance of A-share market around the Spring Festival in the past ten years for investors' reference.</p><p>1. A-share Spring Festival effect is significant, and the probability of market rise before and after the holiday is high</p><p>A-share Spring Festival effect is significant, and the probability of market rise before and after the holiday is relatively high. We have summarized the performance of the yield before and after the Spring Festival from 2010 to 2021. Generally speaking, the performance of the A-share market before and after the Spring Festival is good in most cases, and the rising probability of major broad-based indexes is relatively high. In the past 12 years, in 9 years, the accumulated income of wind All A has risen in 5 trading days before and 5 trading days after the holiday, that is, the probability of increase is as high as 75%. In these 12 years, only 8 years of annual accumulated income of wind All A have been positive. Therefore, from the perspective of probability, there is indeed a significant Spring Festival effect in the performance of A-share market.</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>From the perspective of ups and downs, the Spring Festival red envelopes in the A-share market in the past decade or so have obvious characteristics of low risk and high return.</b>From the perspective of increase, in the past 12 years, the average cumulative yield of wind All A in the five trading days before the Spring Festival is 1.9%, and the median is 2.6%, and the average cumulative yield in the five trading days after the Spring Festival is 1.4%, and the median is 1.8%. And from the perspective of volatility, the market performance during the Spring Festival over the years is obviously more stable than that of the whole year, that is to say, compared with the overall increase of the whole year, the market red envelopes during the Spring Festival have obvious characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and GEM Index performed better than the Shanghai Composite Index, and the small and medium-sized cap indexes such as CSI 500 and CSI 1000 were better than the heavyweight indexes such as SSE 50 and CSI 300.</b>From the perspective of increase, in the past 12 years, the median cumulative yields of the GEM index in the five trading days before/after the Spring Festival were 2.4% and 4.1% respectively, and the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative yield of the National Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival was 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. Nonferrous, electronic and computer performance is relatively dominant</p><p><b>Judging from the performance of various industries, in the past 10 years, the cumulative closing probability of each first-level industry in Shenwan in the five trading days before and after the Spring Festival is generally above 50%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, the first-class industry of Shenwan performed better before and after the holiday, and the number of increases was much higher than the number of declines. Among them, the pharmaceutical and biological industry has all risen in the five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and a probability of rising as high as 92% in the five trading days after the Spring Festival. In addition, the probability of rising the electronic and electrical equipment industries in the five trading days before and after the holiday is also above 80%.</p><p><b>Judging from the absolute data of the ups and downs of various industries, the performance of nonferrous metals, electronics, computers and other sectors around the Spring Festival is relatively good, while the performance of the financial sector is relatively low.</b>The non-ferrous metals sector posted a median gain of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, which was the best performer among all sectors. In the five trading days after the Spring Festival, the median cumulative increase is still the best performance of the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good, while the financial sector performs relatively poorly in 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 blue-chip stocks</p><p><b>Judging from the performance of various style indexes, the probability that the main style indexes of the A-share market will close up in the five trading days before and after the Spring Festival is generally above 60%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed better before and after the holiday, and the number of rises was also much higher than the number of declines. Among them, the high P/E style index has a rising probability of more than 80% in the past 12 years in the five trading days before/after the Spring Festival.</p><p><b>Judging from the absolute value data of the ups and downs of each style index, around the Spring Festival, the style of high P/E is better than that of low P/E, the style of high-priced stocks is better than that of low-priced stocks, and the style of low-profit stocks is better than that of blue-chip stocks.</b>The median accumulated gains of high-P/E stock styles in the five trading days before/after the Spring Festival between 2010 and 2021 were 2.5% and 3.4%, respectively, better than the 1.9% and 0.6% of low-P/E stocks. The median accumulated gains of high-priced stock style in the five trading days before/after the Spring Festival in the past 10 years are 3.3% and 1.6% respectively, which is better than that of low-priced stocks of 1.1% and 2.4%. The median accumulated gains of loss-making stock style in the five trading days before/after the Spring Festival in the past 10 years are 2.3% and 4.2% respectively, which are better than the 2.5% and 0.6% of blue-chip 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":2119,"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":[],"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,"repost":{"id":"2156816281","kind":"news","pubTimestamp":1627861384,"share":"https://ttm.financial/m/news/2156816281?lang=en_US&edition=fundamental","pubTime":"2021-08-02 07:43","market":"hk","language":"zh","title":"Amazon-invested EV company Rivian may build new factory in the UK","url":"https://stock-news.laohu8.com/highlight/detail?id=2156816281","media":"新浪科技","summary":"新浪科技讯 北京时间8月2日早间消息，获得亚马逊投资的电动汽车公司Rivian可能不会只在美国生产。英国媒体报道称，Rivian正在与英国政府谈判，在布里斯托尔附近建设一家新工厂。Rivian拒绝对此消息置评。目前，Rivian开拓国际市场的压力很大。Rivian现阶段只有一家工厂，即位于美国伊利诺伊州的前三菱工厂。在海外建设工厂有助于Rivian扩大规模，以应对特斯拉和大众等竞争对手。英国打算到2035年禁止销售燃油车，这意味着本地的汽车生产将全面转向电动车。","content":"<p><html><body><figure><img h=\"415\" src=\"http://n.sinaimg.cn/tech/transform/245/w630h415/20210802/b536-6e0d35596365e0cb8fac765e816fa130.png\" w=\"630\"/><h2></h2></figure></p><p><a href=\"https://laohu8.com/S/SINA\">SINA</a>Science and Technology News Beijing time August 2nd morning news, obtained<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>The invested EV company Rivian probably won't just build in the U.S. British media have reported that Rivian is in talks with the British government to<a href=\"https://laohu8.com/S/BRS\">Bristow</a>To build a new factory near Earl.</p><p>This negotiation has not yet reached its final stage. But news suggests the factory will focus on the cars themselves rather than the production of batteries, but it's still possible that Rivian will build something similar<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The Gigafactory.</p><p>According to the report, Germany and the Netherlands are currently competing with the UK. Government investment is expected to \"well exceed\" £1bn ($1.39bn) if the UK factory does start construction. Rivian declined to comment for the news.</p><p><div sax-type=\"proxy\"></div>At present, Rivian is under great pressure to explore international markets. Rivian has only one plant at this stage, the former Mitsubishi plant in Illinois, USA. Recently, the company unveiled plans to build a second factory in the United States, which may also produce batteries. Such capacity could constrain future sales, especially in markets outside North America, and could affect the commencement of production of Amazon's electric delivery van.</p><p>Building factories overseas has helped Rivian scale up to cope with rivals like Tesla and Volkswagen. Both companies are rapidly developing EV manufacturing bases. Britain intends to ban the sale of fuel vehicles by 2035, meaning local car production will shift fully to electric vehicles. Rivian's factory helps drive sales and help the UK's transition to electric vehicles.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon-invested EV company Rivian may build new factory in the UK</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\">\nAmazon-invested EV company Rivian may build new factory in the UK\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技</strong><span class=\"h-time small\">2021-08-02 07:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><figure><img h=\"415\" src=\"http://n.sinaimg.cn/tech/transform/245/w630h415/20210802/b536-6e0d35596365e0cb8fac765e816fa130.png\" w=\"630\"/><h2></h2></figure></p><p><a href=\"https://laohu8.com/S/SINA\">SINA</a>Science and Technology News Beijing time August 2nd morning news, obtained<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>The invested EV company Rivian probably won't just build in the U.S. British media have reported that Rivian is in talks with the British government to<a href=\"https://laohu8.com/S/BRS\">Bristow</a>To build a new factory near Earl.</p><p>This negotiation has not yet reached its final stage. But news suggests the factory will focus on the cars themselves rather than the production of batteries, but it's still possible that Rivian will build something similar<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The Gigafactory.</p><p>According to the report, Germany and the Netherlands are currently competing with the UK. Government investment is expected to \"well exceed\" £1bn ($1.39bn) if the UK factory does start construction. Rivian declined to comment for the news.</p><p><div sax-type=\"proxy\"></div>At present, Rivian is under great pressure to explore international markets. Rivian has only one plant at this stage, the former Mitsubishi plant in Illinois, USA. Recently, the company unveiled plans to build a second factory in the United States, which may also produce batteries. Such capacity could constrain future sales, especially in markets outside North America, and could affect the commencement of production of Amazon's electric delivery van.</p><p>Building factories overseas has helped Rivian scale up to cope with rivals like Tesla and Volkswagen. Both companies are rapidly developing EV manufacturing bases. Britain intends to ban the sale of fuel vehicles by 2035, meaning local car production will shift fully to electric vehicles. Rivian's factory helps drive sales and help the UK's transition to electric vehicles.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://tech.sina.cn/it/2021-08-02/detail-ikqcfncc0367654.d.html?vt=4\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://k.sinaimg.cn/n/tech/transform/667/w400h267/20210802/998b-f4d514ad5ca5d8f49314b97ba9b186b8.png/w120h90l50t1afe.jpg","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://tech.sina.cn/it/2021-08-02/detail-ikqcfncc0367654.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156816281","content_text":"新浪科技讯 北京时间8月2日早间消息，获得亚马逊投资的电动汽车公司Rivian可能不会只在美国生产。英国媒体报道称，Rivian正在与英国政府谈判，在布里斯托尔附近建设一家新工厂。\n这一谈判尚未进入最后阶段。但消息显示，这家工厂将专注于汽车本身，而不是电池的生产，但Rivian仍有可能会建设类似特斯拉的超级工厂。\n报道称，目前和英国展开竞争的还有德国和荷兰。如果英国工厂真的开工建设，那么政府投资预计将“远远超过”10亿英镑（约合13.9亿美元）。Rivian拒绝对此消息置评。\n目前，Rivian开拓国际市场的压力很大。Rivian现阶段只有一家工厂，即位于美国伊利诺伊州的前三菱工厂。近期，该公司公布了在美国建设第二家工厂的计划，该工厂可能也会生产电池。这样的产能可能会制约未来的销售，尤其是在北美以外的市场，并可能影响亚马逊电动送货面包车的投产。\n在海外建设工厂有助于Rivian扩大规模，以应对特斯拉和大众等竞争对手。这两家公司都在快速开拓电动汽车制造基地。英国打算到2035年禁止销售燃油车，这意味着本地的汽车生产将全面转向电动车。Rivian的工厂有助于推动销售，帮助英国向电动汽车的转型。","news_type":1,"symbols_score_info":{"AMZN":1}},"isVote":1,"tweetType":1,"viewCount":716,"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":[],"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 Fed won't 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. But there's been a sell-off in the Eurodollar options market, with investors betting that the Fed won't rate hike at all.</p><p>Traders have been scrambling this week to snap up futures calls on Eurodollars, with the subject matter expiring in March 2025, betting on futures contracts where Libor remains below 0.5%.<b>These futures options pay off if the Fed keeps its benchmark rate in a low range until then.</b>Current futures markets don't expect 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>Such bets are designed to hedge tail risks, and these kinds of trades have been particularly hot over the past week. More than 110,000 such options were bought during Thursday's trading session, according to London and Chicago traders familiar with the trading. The preliminary release of open position data has risen to more than 153,000 from about 22,000 a week ago.</p><p><b>However, foreign media analysts are worried that if the Federal Reserve finally keeps interest rates at the current low level until 2025, it may mean that the global economy has not recovered from the epidemic and cause central banks to continue to maintain ultra-loose policies.</b></p><p>Traders have committed about $6.5 million to Eurodollar hedge funds. While the underlying futures contract is targeted at the March 2025 rate, the futures option is only valid for seven months, with a rollover in March 2022.</p><p>Craig Fei, chief strategist at Edward Jones Investments<a href=\"https://laohu8.com/S/YHOO\">Yahoo</a>According to the financial interview, this week's CPI and PPI data have been released. Although inflation is still at a high level, the overall trend has become moderate.</p><p>He believes that tapering will come soon and there will be some volatility, but the big investment environment will not change because the Fed's tapering is because the economy is strong</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 Fed won't 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 Fed won't 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. But there's been a sell-off in the Eurodollar options market, with investors betting that the Fed won't rate hike at all.</p><p>Traders have been scrambling this week to snap up futures calls on Eurodollars, with the subject matter expiring in March 2025, betting on futures contracts where Libor remains below 0.5%.<b>These futures options pay off if the Fed keeps its benchmark rate in a low range until then.</b>Current futures markets don't expect 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>Such bets are designed to hedge tail risks, and these kinds of trades have been particularly hot over the past week. More than 110,000 such options were bought during Thursday's trading session, according to London and Chicago traders familiar with the trading. The preliminary release of open position data has risen to more than 153,000 from about 22,000 a week ago.</p><p><b>However, foreign media analysts are worried that if the Federal Reserve finally keeps interest rates at the current low level until 2025, it may mean that the global economy has not recovered from the epidemic and cause central banks to continue to maintain ultra-loose policies.</b></p><p>Traders have committed about $6.5 million to Eurodollar hedge funds. While the underlying futures contract is targeted at the March 2025 rate, the futures option is only valid for seven months, with a rollover in March 2022.</p><p>Craig Fei, chief strategist at Edward Jones Investments<a href=\"https://laohu8.com/S/YHOO\">Yahoo</a>According to the financial interview, this week's CPI and PPI data have been released. Although inflation is still at a high level, the overall trend has become moderate.</p><p>He believes that tapering will come soon and there will be some volatility, but the big investment environment will not change because the Fed's tapering is because the economy is strong</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","SDS":"两倍做空标普500 ETF-ProShares","QQQ":"纳指100ETF","SQQQ":"纳指三倍做空ETF","UDOW":"三倍做多道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","OEX":"标普100","QLD":"2倍做多纳斯达克100指数ETF-ProShares",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPXU":"三倍做空标普500ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF","SPY":"标普500ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","SH":"做空标普500-Proshares","DOG":"道指ETF-ProShares做空","DJX":"1/100道琼斯",".IXIC":"NASDAQ Composite","SDOW":"三倍做空道指30ETF-ProShares","IVV":"标普500ETF-iShares","DXD":"两倍做空道琼30指数ETF-ProShares"},"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,"DOG":0.9,"ESmain":0.9,"NQmain":0.9,".DJI":0.9,"DXD":0.9,"PSQ":0.9,"SH":0.9,".SPX":0.9,"DDM":0.9,".IXIC":0.9,"QLD":0.9,"OEX":0.9,"UDOW":0.9,"QID":0.9,"SQQQ":0.9,"SDS":0.9,"SPXU":0.9,"DJX":0.9,"SDOW":0.9,"UPRO":0.9,"OEF":0.9,"SSO":0.9,"MNQmain":0.9,"IVV":0.9,"QQQ":0.9,"TQQQ":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":668,"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":[],"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":2625,"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":[],"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":"Theme park, Bubble Mart can play understand?","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<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the opening, there was a wind of theme park construction in China. Happy Valley, Wanda Park, Huaqiang Fantawild, Chimelong... all had to gesture with Disney.</p><p>Now, five years later, Shanghai Disney is still crowded. Beijing Universal Studios is about to open lively, Wanda Park changes hands with Sunac, Legoland,<a href=\"https://laohu8.com/S/SNE\">Sony</a>More theme parks, such as parks, are eyeing the Chinese market... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Bubble Mart</a>It also joined the war situation and set up a wholly-owned subsidiary, Beijing Bubble Mart Paradise Management Co., Ltd., to continue to expand its IP territory.</p><p>However, only those IPs in the blind box obviously won't do. We helped Bubble Mart figure out what else they need 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 plot of land</b></p><p>To build a theme park, you must first have a plot of land.</p><p>Many domestic amusement park operators, such as OCT, Sunac and previously Wanda, are real estate developers, and they have natural advantages in land planning. Therefore, Happy Valley, Sunac Paradise, etc. all take the route of \"tourism + real estate\".</p><p>In order to successfully acquire land, Shanghai Disney and Beijing Universal Studios both chose to cooperate with local governments and real estate developers. In addition to the more Chinese and Western operation mode, the operation idea is still \"tourism + real estate\".</p><p>From the perspective of specific regional selection, at present, Shanghai Disney and Beijing Universal Studios are in strong areas (Pudong New Area and Tongzhou) with better geographical and transportation advantages in their respective cities. It is difficult for latecomers, such as Legoland, to get better land, and they can only succumb to sub-optimal areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Huaqiang Fantawild, Sunac, Songcheng, Chimelong and other paradises gave up the relatively competitive first-and second-tier cities from the beginning, and chose to give full play to their expertise in their own advantageous areas.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamy merry-go-rounds, huge castles, realistic 4D technology... These have all become \"standard\" in theme parks, and these entertainment facilities and corresponding visual presentation technologies have been updated and iterated.</p><p>The collision of new and old technologies can be clearly felt at Universal Studios Beijing.</p><p>A Bilibili Up owner who went to punch in said that the Minions' experience was many notches higher than that of Harry Potter.</p><p>It is reported that the Minion section uses the latest 4D presentation technology, and the image quality is high-definition. However, \"Harry Potter's Forbidden Tour\" still uses the presentation technology of the first Harry Potter theme park in Universal Studios Orlando in 2007, and the picture is very blurry.</p><p>In terms of entertainment facilities and presentation technology, Huaqiang Fantawild can be regarded as one of the domestic enterprises with strong voice. Thanks to starting with selling special film equipment, the founder of Huaqiang Fantawild once said in the media: \"We all have Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This is an important opportunity for Huaqiang Fantawild to gradually transform from indoor amusement facilities into outdoor theme parks, and it also makes 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 reported that Huaqiang Fantawild sets up theme parks mainly through cooperation with various investors for investment and construction. Huaqiang Fantawild provides special equipment and installation services, special effect engineering construction services or engineering management services.</p><p>However, the operators of theme parks such as OCT, Sunac and Chimelong, which already have real estate operation capabilities, can only choose third-party cooperation to introduce equipment and technology.</p><p><b>Mature IP and operational capabilities</b></p><p>This is a top priority for theme parks.</p><p>Most of the IPs owned by Disney and Universal Studios have formed some kind of cultural symbol, which has 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 languages), and they are usually proud to highlight their unique fan characteristics, which gives more room for development around the corresponding IP.</p><p>What fan would go to Universal's Harry Potter Forbidden Tour without buying a magic wand and drinking a butter beer? Which fan will be willing to leave empty-handed when he sees the Storm Soldier's helmet when he goes to Disney Mall?</p><p>What's more, most of these IPs have been accumulated for decades, and they have been constantly introduced in the story content to cater to the appetite of new and old fans, which has had a huge influence on several generations, and these influences have given birth to the strong spending power of tourists visiting theme parks.</p><p>But these alone are not enough. The soul of the theme park is to make these IPs \"live\" in the park and bring tourists a realistic immersive experience.</p><p>Disney has always been famous for its dreams, because this is a fairy tale kingdom, in which all fairy tale characters are vivid, they will greet and interact with tourists, and they will also say some narration that conforms to \"personality\". When you walk into the park, you will feel happy from the bottom of your heart. This appeal is something that many domestic theme parks have never had before.</p><p>Universal Studios is not far behind. Some netizens said that when you come to Harry Potter's taboo tour and want to find a charging treasure, the staff will tell you, \"That's for Muggles, and we don't have it here.\"</p><p>A wave of the induction wand will produce scene changes, crying myrtle in the toilet…all important designs to increase the sense of experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>To present these IPs as authentically as possible, we benefit from the model of \"Chinese main investment + American main operation\" of Shanghai Disney and Beijing Universal Studios.</p><p>Shanghai Disney is jointly invested by Shendi Group and Disney to set up three enterprises, two of which are owner companies and the third is a management company.</p><p>Just like the management model of the hotel, the management company established by both parties accepts the entrustment of the owner's company and is responsible for the creativity, design, development and daily operation management of the project. This is also the first time in an overseas park invested by Disney.</p><p>Beijing Universal Studios also borrows from this model, which is composed of Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (\"Shouhuan Investment\") and Universal Theme Company and Resort (<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>Business segments under NBC Universal), with equity percentages of 70% and 30%.</p><p>The advantage of this is that, as the holder of IP, the US side better understands the true value of IP, so that it can maximize these values.</p><p>Back to domestic theme parks, they are somewhat skillful in IP operation.</p><p>OCT and Sunac basically adopt the way of cooperating with mature IP in China, which is more like putting IP OEM on their own amusement facilities or staff, so as to attract the audience of a certain IP to come and play.</p><p>For example, Nanjing Happy Valley, which opened last year, is bound to the IP of Little Yellow Duck. In Nanjing, where \"no duck can swim out\", this IP is certainly very popular and accurate in positioning.</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, it is still not easy to create an excellent immersion. After all, experience is a feeling that is both individual and subtle.</p><p>Located on the edge of Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>In the movie world, there are many Huayi Brothers movie IP such as If You Are the One, Di Renjie's Tongtian Empire and Tai Chi, but in terms of IP operation-many projects have no real scene but no interaction, which neither brings a real immersive experience to consumers nor increases user stickiness, leaving only monotonous photo shoots, and finally the door is left in the cold.</p><p>Huaqiang Fantawild has certain uniqueness and originality in the operation of its own IP and theme parks, and \"<b>Travel + Real Estate</b>\"Different models, Huaqiang Fantawild's strategy is\"<b>Culture + Technology</b>\", take the route of content being king.</p><p>But it is doomed to be a very difficult road to keep up with Disney.</p><p>In the past ten years, Huaqiang Fantawild has created more than 30 own IPs, and the only real household name is Bear Infestation. However, this 8-year-old IP didn't bring much grace to Huaqiang Fantawild's theme park.</p><p>The reason is that the main audience of Bears is children, but the target consumers of theme parks are young people aged 20-30. IP aging, target crowd misalignment, and attractiveness decrease naturally make the realization of theme parks even weaker.</p><p>Huaqiang Fantawild hopes to create an IP for higher age groups, so it took five years to launch the fantasy animation film \"City of Terracotta\".</p><p>The film was released this summer, and the box office was miserable-although the special effects are good, the plot and character creation \"pull the crotch\", and the setting of national style elements such as Terracotta Warriors and Horses, the Classic of Mountains and Seas is too confusing, and many explosive elements of Pixar and Disney animated movies have been \"brought\"...</p><p>Children may not understand that in front of well-informed adult consumers, the self-proclaimed originality of \"City of Terracotta\" makers is like a joke.</p><p><b>The blessing of theme parks is yet to come</b></p><p>Theme parks belong to the asset-heavy operation mode, and the remaining theme parks that are still in business today are all the products of the big waves in the past decade.</p><p>According to statistics, within ten years since Shanghai Disney announced its construction, 80% of theme parks have closed down successively, such as the famous Oriental Paradise, \"Tiangong Tribe\" and Orange Island Beach Park.</p><p>According to previous reports, around 2016, there were about 300 domestic theme parks with an investment of more than 50 million yuan, 70% of which were at a loss, 20% were flat, and only 10% were profitable. About 150 billion yuan was stuck in the investment of theme parks.</p><p>Nowadays, theme parks have gradually gotten rid of the state of barbaric growth at that time, and began to move towards the development path of scientific planning and IP operation, and their operation is on the right track.</p><p>According to the financial report of the first half of this year, the comprehensive tourism business of OCT achieved revenue of 18.922 billion yuan and gross profit of 4.685 billion yuan, up by 89.93% and 24.98% year-on-year respectively. The Company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas and 1 tourist performing arts station received a total of 28.482 million tourists, recovering to 160% of the same period in 2019.</p><p>The performance of Sunac's cultural tourism sector is also growing rapidly. In the first half of this year, the operating income was 2.61 billion yuan, a year-on-year increase of 166%; Passenger traffic reached 72.01 million, representing a year-on-year increase of 103%.</p><p>Although Huaqiang Fantawild has its own troubles, the operating income of theme parks in the first half of this year was 1.789 billion yuan, a year-on-year increase of 37.37%. In addition, in the first half of 2021, the visitor reception of Fantawild Theme Park has recovered to nearly 90% of the same period in 2019.</p><p>These achievements also benefited from the \"retaliatory\" travel and consumption of consumers after the epidemic. In addition, consumers' consumption mentality has also changed a little-whether it's playing, shopping or dining, they all pursue novel and fun offline experiences, which is an excellent opportunity for theme parks.</p><p>Therefore,<b>It becomes extra important to constantly bring freshness to consumers. Differentiated positioning, updating and iterating equipment, and upgrading technology... These have all become eternal topics and the focus of investment of theme park operators.</b></p><p>Now, if you want to enter the theme park, there are more and more problems that latecomers need to solve.</p><p>Take Bubble Mart as an example. Its brand audience is mostly trendy consumers in first-and second-tier cities, so the site selection of the park is bound to be limited to this range, and the cost will inevitably increase greatly;</p><p>In terms of the reserve of facilities and technologies in the park, Bubble Mart may only adopt the supplier cooperation system, and it is impossible to research and develop independently. Even if it is self-researched, it is not as good as its predecessors with years of experience;</p><p>In the operation of its own IP, Bubble Mart's IP is mostly in the initial stage of development-that is, there is only a simple IP image, with no story and connotation behind it. Disney and Universal Studios, which hold multiple classic IPs in the same hand, are not at the same level of magnitude at all, and are even less universal than Huaqiang Fantawild's Bear Infestation;</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>Enterprises with massive mature IP, unique gameplay and culture, such as Nintendo and Lego, are also eyeing this track...</p><p>It is difficult to successfully operate a theme park!</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>Theme park, Bubble Mart can play understand?</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\">\nTheme park, Bubble Mart can play understand?\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<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the opening, there was a wind of theme park construction in China. Happy Valley, Wanda Park, Huaqiang Fantawild, Chimelong... all had to gesture with Disney.</p><p>Now, five years later, Shanghai Disney is still crowded. Beijing Universal Studios is about to open lively, Wanda Park changes hands with Sunac, Legoland,<a href=\"https://laohu8.com/S/SNE\">Sony</a>More theme parks, such as parks, are eyeing the Chinese market... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Bubble Mart</a>It also joined the war situation and set up a wholly-owned subsidiary, Beijing Bubble Mart Paradise Management Co., Ltd., to continue to expand its IP territory.</p><p>However, only those IPs in the blind box obviously won't do. We helped Bubble Mart figure out what else they need 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 plot of land</b></p><p>To build a theme park, you must first have a plot of land.</p><p>Many domestic amusement park operators, such as OCT, Sunac and previously Wanda, are real estate developers, and they have natural advantages in land planning. Therefore, Happy Valley, Sunac Paradise, etc. all take the route of \"tourism + real estate\".</p><p>In order to successfully acquire land, Shanghai Disney and Beijing Universal Studios both chose to cooperate with local governments and real estate developers. In addition to the more Chinese and Western operation mode, the operation idea is still \"tourism + real estate\".</p><p>From the perspective of specific regional selection, at present, Shanghai Disney and Beijing Universal Studios are in strong areas (Pudong New Area and Tongzhou) with better geographical and transportation advantages in their respective cities. It is difficult for latecomers, such as Legoland, to get better land, and they can only succumb to sub-optimal areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Huaqiang Fantawild, Sunac, Songcheng, Chimelong and other paradises gave up the relatively competitive first-and second-tier cities from the beginning, and chose to give full play to their expertise in their own advantageous areas.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamy merry-go-rounds, huge castles, realistic 4D technology... These have all become \"standard\" in theme parks, and these entertainment facilities and corresponding visual presentation technologies have been updated and iterated.</p><p>The collision of new and old technologies can be clearly felt at Universal Studios Beijing.</p><p>A Bilibili Up owner who went to punch in said that the Minions' experience was many notches higher than that of Harry Potter.</p><p>It is reported that the Minion section uses the latest 4D presentation technology, and the image quality is high-definition. However, \"Harry Potter's Forbidden Tour\" still uses the presentation technology of the first Harry Potter theme park in Universal Studios Orlando in 2007, and the picture is very blurry.</p><p>In terms of entertainment facilities and presentation technology, Huaqiang Fantawild can be regarded as one of the domestic enterprises with strong voice. Thanks to starting with selling special film equipment, the founder of Huaqiang Fantawild once said in the media: \"We all have Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This is an important opportunity for Huaqiang Fantawild to gradually transform from indoor amusement facilities into outdoor theme parks, and it also makes 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 reported that Huaqiang Fantawild sets up theme parks mainly through cooperation with various investors for investment and construction. Huaqiang Fantawild provides special equipment and installation services, special effect engineering construction services or engineering management services.</p><p>However, the operators of theme parks such as OCT, Sunac and Chimelong, which already have real estate operation capabilities, can only choose third-party cooperation to introduce equipment and technology.</p><p><b>Mature IP and operational capabilities</b></p><p>This is a top priority for theme parks.</p><p>Most of the IPs owned by Disney and Universal Studios have formed some kind of cultural symbol, which has 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 languages), and they are usually proud to highlight their unique fan characteristics, which gives more room for development around the corresponding IP.</p><p>What fan would go to Universal's Harry Potter Forbidden Tour without buying a magic wand and drinking a butter beer? Which fan will be willing to leave empty-handed when he sees the Storm Soldier's helmet when he goes to Disney Mall?</p><p>What's more, most of these IPs have been accumulated for decades, and they have been constantly introduced in the story content to cater to the appetite of new and old fans, which has had a huge influence on several generations, and these influences have given birth to the strong spending power of tourists visiting theme parks.</p><p>But these alone are not enough. The soul of the theme park is to make these IPs \"live\" in the park and bring tourists a realistic immersive experience.</p><p>Disney has always been famous for its dreams, because this is a fairy tale kingdom, in which all fairy tale characters are vivid, they will greet and interact with tourists, and they will also say some narration that conforms to \"personality\". When you walk into the park, you will feel happy from the bottom of your heart. This appeal is something that many domestic theme parks have never had before.</p><p>Universal Studios is not far behind. Some netizens said that when you come to Harry Potter's taboo tour and want to find a charging treasure, the staff will tell you, \"That's for Muggles, and we don't have it here.\"</p><p>A wave of the induction wand will produce scene changes, crying myrtle in the toilet…all important designs to increase the sense of experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>To present these IPs as authentically as possible, we benefit from the model of \"Chinese main investment + American main operation\" of Shanghai Disney and Beijing Universal Studios.</p><p>Shanghai Disney is jointly invested by Shendi Group and Disney to set up three enterprises, two of which are owner companies and the third is a management company.</p><p>Just like the management model of the hotel, the management company established by both parties accepts the entrustment of the owner's company and is responsible for the creativity, design, development and daily operation management of the project. This is also the first time in an overseas park invested by Disney.</p><p>Beijing Universal Studios also borrows from this model, which is composed of Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (\"Shouhuan Investment\") and Universal Theme Company and Resort (<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>Business segments under NBC Universal), with equity percentages of 70% and 30%.</p><p>The advantage of this is that, as the holder of IP, the US side better understands the true value of IP, so that it can maximize these values.</p><p>Back to domestic theme parks, they are somewhat skillful in IP operation.</p><p>OCT and Sunac basically adopt the way of cooperating with mature IP in China, which is more like putting IP OEM on their own amusement facilities or staff, so as to attract the audience of a certain IP to come and play.</p><p>For example, Nanjing Happy Valley, which opened last year, is bound to the IP of Little Yellow Duck. In Nanjing, where \"no duck can swim out\", this IP is certainly very popular and accurate in positioning.</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, it is still not easy to create an excellent immersion. After all, experience is a feeling that is both individual and subtle.</p><p>Located on the edge of Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>In the movie world, there are many Huayi Brothers movie IP such as If You Are the One, Di Renjie's Tongtian Empire and Tai Chi, but in terms of IP operation-many projects have no real scene but no interaction, which neither brings a real immersive experience to consumers nor increases user stickiness, leaving only monotonous photo shoots, and finally the door is left in the cold.</p><p>Huaqiang Fantawild has certain uniqueness and originality in the operation of its own IP and theme parks, and \"<b>Travel + Real Estate</b>\"Different models, Huaqiang Fantawild's strategy is\"<b>Culture + Technology</b>\", take the route of content being king.</p><p>But it is doomed to be a very difficult road to keep up with Disney.</p><p>In the past ten years, Huaqiang Fantawild has created more than 30 own IPs, and the only real household name is Bear Infestation. However, this 8-year-old IP didn't bring much grace to Huaqiang Fantawild's theme park.</p><p>The reason is that the main audience of Bears is children, but the target consumers of theme parks are young people aged 20-30. IP aging, target crowd misalignment, and attractiveness decrease naturally make the realization of theme parks even weaker.</p><p>Huaqiang Fantawild hopes to create an IP for higher age groups, so it took five years to launch the fantasy animation film \"City of Terracotta\".</p><p>The film was released this summer, and the box office was miserable-although the special effects are good, the plot and character creation \"pull the crotch\", and the setting of national style elements such as Terracotta Warriors and Horses, the Classic of Mountains and Seas is too confusing, and many explosive elements of Pixar and Disney animated movies have been \"brought\"...</p><p>Children may not understand that in front of well-informed adult consumers, the self-proclaimed originality of \"City of Terracotta\" makers is like a joke.</p><p><b>The blessing of theme parks is yet to come</b></p><p>Theme parks belong to the asset-heavy operation mode, and the remaining theme parks that are still in business today are all the products of the big waves in the past decade.</p><p>According to statistics, within ten years since Shanghai Disney announced its construction, 80% of theme parks have closed down successively, such as the famous Oriental Paradise, \"Tiangong Tribe\" and Orange Island Beach Park.</p><p>According to previous reports, around 2016, there were about 300 domestic theme parks with an investment of more than 50 million yuan, 70% of which were at a loss, 20% were flat, and only 10% were profitable. About 150 billion yuan was stuck in the investment of theme parks.</p><p>Nowadays, theme parks have gradually gotten rid of the state of barbaric growth at that time, and began to move towards the development path of scientific planning and IP operation, and their operation is on the right track.</p><p>According to the financial report of the first half of this year, the comprehensive tourism business of OCT achieved revenue of 18.922 billion yuan and gross profit of 4.685 billion yuan, up by 89.93% and 24.98% year-on-year respectively. The Company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas and 1 tourist performing arts station received a total of 28.482 million tourists, recovering to 160% of the same period in 2019.</p><p>The performance of Sunac's cultural tourism sector is also growing rapidly. In the first half of this year, the operating income was 2.61 billion yuan, a year-on-year increase of 166%; Passenger traffic reached 72.01 million, representing a year-on-year increase of 103%.</p><p>Although Huaqiang Fantawild has its own troubles, the operating income of theme parks in the first half of this year was 1.789 billion yuan, a year-on-year increase of 37.37%. In addition, in the first half of 2021, the visitor reception of Fantawild Theme Park has recovered to nearly 90% of the same period in 2019.</p><p>These achievements also benefited from the \"retaliatory\" travel and consumption of consumers after the epidemic. In addition, consumers' consumption mentality has also changed a little-whether it's playing, shopping or dining, they all pursue novel and fun offline experiences, which is an excellent opportunity for theme parks.</p><p>Therefore,<b>It becomes extra important to constantly bring freshness to consumers. Differentiated positioning, updating and iterating equipment, and upgrading technology... These have all become eternal topics and the focus of investment of theme park operators.</b></p><p>Now, if you want to enter the theme park, there are more and more problems that latecomers need to solve.</p><p>Take Bubble Mart as an example. Its brand audience is mostly trendy consumers in first-and second-tier cities, so the site selection of the park is bound to be limited to this range, and the cost will inevitably increase greatly;</p><p>In terms of the reserve of facilities and technologies in the park, Bubble Mart may only adopt the supplier cooperation system, and it is impossible to research and develop independently. Even if it is self-researched, it is not as good as its predecessors with years of experience;</p><p>In the operation of its own IP, Bubble Mart's IP is mostly in the initial stage of development-that is, there is only a simple IP image, with no story and connotation behind it. Disney and Universal Studios, which hold multiple classic IPs in the same hand, are not at the same level of magnitude at all, and are even less universal than Huaqiang Fantawild's Bear Infestation;</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>Enterprises with massive mature IP, unique gameplay and culture, such as Nintendo and Lego, are also eyeing this track...</p><p>It is difficult to successfully operate a theme park!</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":907,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}