To The Moon

Click to vote. Can you predict where $NIO Inc.(NIO)$ will move following their earnings? If you get the right answers, you can get 20 Tiger Coins. In addition, you have the chance of winning 100 Tiger Coins.$NIO Inc.(NIO)$ is scheduled to announce its Q2 earnings results before the market opens on Wednesday, 7 September 2022. Lets's guess where NIO will move following their earnings?​💡Highlights of this quarter:Previously released data has shown that NIO delivered 25,059 vehicles in the second quarter, down 2.75 percent from 25,768 in the first quarter and up 14.45 percent from 21,896 in the same period last year.NIO's previous guidance for second-quarter deliveries was 23,000-25,000 units. Its actual deliveries in the second quarter were above the upper end of the range.NIO's local peers XPeng Motors and Li Auto both previously reported second-quarter revenue that exceeded expectations, but their guidance for the third quarter was very weak. It is important for investors to focus on guidance for the second half of the year in this earnings report✅ NIO Q2 earnings consensus NIO's revenue guidance for the second quarter was RMB 9.34 billion-10.09 billion, representing a 10.6 percent to 19.4 percent year-on-year increase. Wall Street Consensus Estimate for EPS has been RMB -1.25 per share over the past 30 days. The consensus mark for revenues is currently pegged at RMB 9.91 billion💰Activity DetailsClick to vote. Guess where $NIO Inc.(NIO)$ will move following their earnings? If you get correct answers, you can get 20 Tiger Coins.Reply and forward this post, share your insights about NIO's financial reports, we will give 100 Tiger Coins with outstanding comments.⏰Event TimeThe deadline for this event is 22:00 on 7 September 2022, SGT🔥Don't forget to follow@Tiger_Earnings, Tiger's official account for providing key information during earnings season📖📖📖$NIO Inc.(NIO)$ $NIO Inc.(NIO.SI)$ $NIO-SW(09866)$

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Q&A（Question-and-Answer Session）is a session after the company's prepared remarks where institutional investors and analysts ask management questions. In this dialogue, you may find some valuable information that might affect the stock price in the following weeks.Now let's look at some key points from $Bilibili Inc.(BILI)$$BILIBILI-SW(09626)$ Q2 2022 Q&A Session TranscriptQ：So my question is on the user side. BILI's MAU have surpass over 300 million this quarter. And we also noticed that, in the second quarter, the DAU actually outgrows MAU, and the average time spent per user also grow quite nicely. So I was wondering, what's the driver behind? And also what's management's expectation for the DAU and MAU metrics for the second half and also in 2023?A：I will share 3 points. As you may all aware, there has been a significant change of macro environment globally. However, we think the fundamentals of Bilibili remain unchanged. Here are 3 points that's supporting our growth.Videolization, for a start, is a global phenomenon. And we think the videolization movement will continue for 3 years at least. And this will also support Bilibili's growth, not for just 1 year, to 2 years, 3 years, as this will continue to support us.The second thing is the young generation needs their own culture and entertainment content. We have half of our users are below 25 years old. Why they're using Bilibili? Because we are providing their own cultural and content product.Third point is the consumption upgrade is still the largest driving force within the consumption sector, and the content consumption will be a major part of it. The Z generation, the Z+ generation, are more willing to spend their money into spiritual and cultural products, cultural consumption.I believe Bilibili is on the front line of this movement. That's why these 3 points is supporting our continued sustainable growth in the future.As you mentioned, indeed, for the past 2 quarters, our DAU growth rate has outpaced the MAU growth rate. That's because we have keep emphasizing that we will focus on the quality of the growth, which means the DAU and engagement level, time spent.And not only our DAU has surpassed the MAU growth rate, our daily user time spent has also improved sequential year-over-year for many quarters. And our daily video views grew over 80% and our user engagement, multiuser engagement numbers, has also grown significantly. So this is a very healthy model that the video views and engagement outpaced the DAU, and the DAU itself outpaced the MAU, means the community has become more sticky and engaged.On top of spending our money more wisely, we believe that our business model, which is the content ecosystem-driven business model, is more healthy.As for our content categories, it has been very healthy across different verticals. Our traditionally strong anime, music, food, it's growing very healthily. We are also witnessing a lot of new category expansion. Because we have such a healthy ecosystem, you can continuously discover new content creator, very high-quality content. And we have many, many new titles that went viral. For example, the phenomenal Second Uncle PUGV has been a perfect example of how Bilibili can continuously create high-quality content. And you can discover very talented content creator on our community.And secondly is our multi-scenario, multi-content category approach, is also helping us to grow healthily. As you may see from our platform, the PUGV live broadcasting, OGV and even the newly emerged Story Mode, they are all growing very nicely. And we are actively supplementing those video scenarios that's helping our users become more engaged.Here, I wanted to lastly to -- wanted to really emphasize our MAU target, which is 400 million by end of next year. And we won't be achieving this number just for the sake of achieving a number, but we will be more focused on the quality of the user growth. As you can see, we're putting more emphasis on the DAU growth. We wanted to achieve a healthy and sustainable growth going forward. Thank you.Q：My question is regarding the progress on Story Mode. The viewership has shown strong growth. Can management give more colors of the positioning and the strategy of the Story Mode? And how is the progress on Story Mode, like its ecosystem and the commercialization?A：For the past 2 quarters, we've seen a lot of attention being placed on the Story Mode. Indeed, we have delivered a very outstanding result of how Story Mode expanding its traffic. And the reason why behind that is partially because this is from 0. We're growing this from 0. However, I wanted to emphasize here is that overall -- our overall traffic is also growing very significantly. And Story Mode is the incremental traffic add on to our total traffic. For example, if you look at the total VV, we grew by 83% year-over-year. And the PUGV video views also grew over 50% year-over-year. Our Story Mode rose 400% from a very low base. But I just wanted to emphasize, this is indeed a very nice incremental traffic growth to our ecosystem. But don't forget, our overall traffic is also growing very nicely.Here, we always talked about the strategy of growing multi-scenario, multi-content category, and Story Mode is the representation of that strategy. And Bilibili's video ecosystem is a comprehensive, full bodied, well-rounded content ecosystem that centers around PUGV. And along with live broadcasting, story and our smart TV application, all of that is a natural extension of our original PUGV ecosystem, whether it's adding a new scenario for users' fragmented time or allowing the original content creator to become live broadcasters, this comes from the original PUGV ecosystem.As for the Story Mode, we believe it's a very important supplement to our original content ecosystem. This product satisfy users' on-the-go entertainment needs for their fragmented time and satisfies users' kill-time need for a 1- or 2-minute video. Probably there's 10 times of that need will come up during the day. And combined together, it would be a certain longer period of time.And more importantly, we believe the Story Mode has been very beneficial for us to improve the engagement level of those users that are less active. Some of them might think some of the video on Bilibili is too long or is more difficult to comprehend. The launch of Story Mode is helping them to quickly adapt into the Bilibili community, to help them understand, to give them a quick start to blend into our community.Additionally, Story Mode has been very beneficiary to the newly joined content creator or the content creator with fewer followers. In the past, for them to grow their followers, they have to spend a lot of time to create high-quality, longer period of PUGV. Now we are providing there a new option to create a lighter, shorter creation. And this smaller creation comes together, will help them to grow their followers more quickly.We are also noticing that this launch of Story Mode is helping those content creators who originally are good at creating short-form videos, are providing them additional opportunity to grow and expand their influence on Bilibili. In the second quarter, we've noticed that the number of content creators who achieved 1 million followers, 60% of them will benefit from the traffic growth of Story Mode.Lastly, I wanted to emphasize that even though it's a shorter, vertical video, but if you browse through the content, you can tell immediately this is Bilibili featured, high-quality video. The algorithm, the recommendation system behind the Story Mode, is identical to the PUGV algorithms. We put same amount of weighting and emphasize the content quality and users' positive feedback towards the content.And additionally, our users are very inclined to engage within the Story Mode. From -- the data shows that the user who cast light in the Story Mode has been significantly higher than the Story Mode total percentage of revenue. That means that our users are recognizing the quality of the Story Mode videos. I believe, in the future, they will be definitely very typical and very popular Story Mode video born and went viral in the space, and there will also be original Bilibili Story Mode video content creator emerging. And we are already noticing that. For example, the content creator named [Shenchen Za Wuxing], would be a perfect example for the Story Mode typical high-quality content creator.Q：And my question relates to advertising. Given the macro headwinds and the resurgence of COVID-19, what measures do we take to make the advertising business grow? And how does management think about the trend of the advertising scene in the second half of the year? Also a follow-up question on Story Mode. We have launched advertising. How much utilization in Story Mode since April? So could you share more details about it?A：A combination of global macro economic challenges and repeated COVID outbreaks in China are not only causing significant impact on our advertising industry in the short term, but also will be a lasting impact in the next 1 to 2 years. We've noticed that the budgeting is shrinking, advertisers have become more conscious when thinking about investing in brand advertising. And emerging industries are also struggling. So all of these factors are actually the status quo. At the same time, we've also noticed that the platform with high user value and high conversion efficiencies will stand out. However, it will still be tougher to do business, especially in ad business, if we are comparing to 2021 or prior years.Within this challenging macro environment for Bilibili's ad business in the second quarter, we grew our business 10% year-over-year. We are one of very few names that achieved year-on-year growth in the advertising sector and also achieved a market share gain.What we'll do to cope with this change, we believe in every crisis lies great opportunity. In cope of the current challenges and opportunities, we raised our strategy for the next 3 years, which is growth-centered; community-prioritized; and content ecosystem plus commercialization, dual-engine powered. This is the first time we're putting commercialization and community ecosystem at an equally important position.We have completely integrated the live broadcasting and video community on the organizational structure level and achieved live broadcasting plus video all in one structure. This helped us to create a closed loop ad in multi-scenarios. At the same time, we further integrate our commercialization system with our content ecosystem. Namely, we created two middle platforms, plus two business center structure.The two middle platforms, two business center. One is a large middle platform serving all commercialization efforts with the goal of improving traffic-linked monetization efficiency. This will be the infrastructure of our ad business and will also empower many income business segments. Another one is a smaller middle platform. Its main purpose is to serve and help our content creator to increase their earning power and improve their overall earning experience. And the two products will be, investors are familiar, Sparkle ad platform and the live video e-commerce product. And above mentioned adjustment will help our team bond together on a strategic thinking and execution level to create barrier-free self-reinforcing and positive cycle that stimulates our content ecosystem, user growth and business growth.Our advertising methods will be further iterated in the second half of this year, but the two following things will remain unchanged. One is focused on the infrastructure. Strengthen this construction of our algorithm and data power, optimizing -- optimize the realization of different scenarios and help improve efficiency of our products. We'll also look to build a scientific marketing system that's based on data construction. And the second thing remains unchanged, is to provide a well-rounded one-stop solutions for industry verticals, such as games, e-commerce, FMCG and automotive industries and et cetera. So that's the key accounts and industry -- different industry budgets we can fully absorb.To see the trend for the second half revenue trajectories, we do expect that the overall app grossing will grow about 20% year-over-year in the third quarter, thanks to the ad efficiency improvement and the iteration of our integrated marketing solutions. And for the second half of this year, we do notice that the budget from brand advertisers remain largely uncertain due to the macro environment. However, our multi-scenario ad approaches, including the Story Mode ad, transaction-based ads, will help us to gain new market share.In Q3, we are looking to further open our ecosystem with our industry partners. We have already established initial partnerships with e-commerce platform, like Taobao, Tmall, Jingdong, Pinduduo. And we'll make active trial in models like making sales recommendation in our native ads and context transaction execution. Going forward, we'll also conduct various collaboration with brand advertisers and consumer goods players. In the short term, we can -- we believe we can achieve revenue growth driven by products like [Sparkle Story] and [Project Takeoff]. In the mid- to longer term, the above-mentioned collaboration will help us to establish a commercial environment and build user consumption behavior we believe we want it to. This can help us to create an ever-growing commercialization environment within our ever-growing content ecosystem.From an industry perspective, we will remain our edge in leading verticals, such as games, 3C and digital products, food and beverage, skin care and cosmetics. Among which, we believe we have standout in the mobile games, automotive and digital products. We've seen that in the first half of this year, our mobile games -- ad revenue from mobile games sector grow near 90% year-over-year, and ad revenue from automotive industry grew over 110% year-over-year.Rui Chen[Foreign Language] You mentioned about the Story Mode. Indeed, it's a new ad scenario, and it's incremental traffic growth for our company. And we've also witnessed that the eCPM for Story Mode ads is also much higher compared to the traditional text and picture-based ads. This will help us to grow our advertising revenue in the short term. But if we look at a longer period of time, from 2023 to 2024, '25, the ad business growth will largely depend on our ability to build a well-rounded ecosystem that's ecosystem-based, industrialized, integrated marketing solution.Under the current challenging macro environment, we still hope and believe our ad revenue growth can be as healthy and as sustainable as our user and community growth. We are also confident to deliver and achieve win-win situation with our business partners. Thank you.The above Q&A are highlights that are edited for brevity.Click here for the full Bilibili Q2 2022 Earnings Call Transcript.​​​​​​​​​​If you want to know more details,you can click here to re-watch the  Bilibili Q2 2022 Earnings Conference Call​

Q&A（Question-and-Answer Session）is a session after the company's prepared remarks where institutional investors and analysts ask management questions. In this dialogue, you may find some valuable information that might affect the stock price in the following weeks.Now let's look at some key points from $Tiger Brokers(TIGR)$ Q2 2022 Q&A Session TranscriptQ：How to maintain and penetrate SG market with the increasingly competitive environment?A：Yes the landscape is getting more competitive in Singapore, in addition to traditional brokers, there are also more online brokers coming to Singapore.We embrace the healthy competition as long as it could bring better products and services to local clients.While for brokers, customer acquisition cost control and acquiring clients with high quality are the imperative tasks to cope with during the competition.Our purpose is to be the largest and the most trustworthy broker in Singapore. Our strategy is to shoot for the long term development, so w-e will not sacrifice the quality of clients or incur high CAC just for short term growth. We believe that research and development is the core co-mpetitiveness of Tiger, so we attach great importance to product quality. We continue to optimize our products and roll out more functions to meet the investment needs of different types of investors, thus to improve clients’ engagement and ARPU.As we can see from our financials of the second quarter, we keep staying ahead in the Singapore market under the weak market backdrop an-d intensive competitive landscape. More than 60% of our 27,900 newly acquired clients in the second quarter coming from Singapore and th-e average net asset inflows of our new funded clients in Singapore exceeded 9,000 US dollars, while the average CAC decreased sequentially, solidify our leading position in both market share and client quality.Q: Any business updates in AU and NZ markets?A:In the second quarter, more than 10% of our new funded accounts coming from Australia and New Zealand.We still make all-out efforts, such as sponsoring the local sports team, to localize our products and services by adding more features that will give local investors more control over their investment, while keeping the user experience simple and efficient.The ranking of Tiger Trade app rose to No.31 by the end of the s-econd quarter, the highest among online brokers in Australia.As a result, our newly registered users increased more than 80% and the tradin-g volume also doubled on a sequential basis in Australia.We keep fine tuing our local marketing strategy and localization, and confident there will be more local users coming onto tiger platformQ:The first question is we saw Tiger has acquired Hong Kong brokerage license for almost a year. What is the latest status and the development plan for like to develop business in Hong Kong?A:We had some delays earlier this year due to covid, now everything is progressing on track.We are upgrading the trading infrastructures, for example, getting more direct line, expand our server, doing testing with the exchange, backtest book and records using our own system, we aim to launch in the next few quarters.We also obtained the type 4&5 licenses from SFC, which allows us to create more contents for user-s and online community. we will apply for more SFC licenses to provide value added services to hk users.Q:The regional breakdown of the new funded accounts in Q2 and the expected breakdown of the rest of the total new funded accounts in 2022?A:Our internationalization is progressing well. In the 2nd quarter,over 70% of newly funded users were derived from overseas markets, in which, above 20% of the funded accounts came from Mainland, China, more than 60% came from Singapore and the rest 10% to 20% were from Australia and New Zealand.We expect the proportion of new clients acquired in Australia and New Zealand will increase in the second half year of 2022, alongside with our local development and expansion.In the second quarter, the average CAC in Singapore was around 215 U.S dollars and about 156 U.S. dollars excluding branding expense.Meanwhile, we launched our service in Australia in the first quarter. When we enter a new market, similar to what we have done in Singapore, we will spend more on branding to promote our company, therefore the average CAC in Australia and New Zealand is still relatively high, which brings the total average CAC to approximately 300 U.S. dollars in the second quarter, decreased about 10% on a quarter over quarter basis.The market sentiment was weak during the first half year, and investors prefer to stay on the sideline. Under the circumstance, we are very prudent with the marketing spending. We keep a very close eye on CAC and payback to make sure we can have a very healthy business model, and we will just be very dynamic to adjust our marketing strategy. Q:And second question is in light of Fed accelerating rate hike cycle? What is the impact to the - to the company's business? And what is the potential response from the company? Thank you.Broker dealer industry has very strong Beta effect, we think the Fed tightening will have mixed impacts on our business and industry. On the bright side, we can generate more interest incomes from the increased rate cycle, especially with our increased client base and self-clearing efficiency.While on the other side, to a certain extent, the liquidity tightening will have negative impacts on the capital market activity, transaction volume, as well as the IPO issuance.Strategically speaking, we will keep concentrating on investor education and product optimization, and consequently to help our clients better navigate market turmoil and enhance client engagement.In addition, we will keep upgrading the infrastructures in H-ong Kong so that we can provide better services to our clients once the market recovers.Dear investors, friends on Tiger Community. Thank you for your time. Before the Q&A session for individual investors, we will give you all 5 minutes to leave your questions on the comment board in our live streaming room. Your questions will be collected by my colleagues.Thank you for sending over your questions. Our CEO, Wu Tianhua will be online during this Q&A session.Q:I noticed that Tiger's marketing and branding expenses in the first half of 2022 were much lower than the same period in 2021, by almost 50%. Could you please explain the reasons? Does it mean the company's growth is sluggish? How are the marketing and promotions results from your newly entered global markets?A:The market sentiment was weak during the first half year, and investors prefer to stay on the sideline. Under the circumstance, we are very prudent with the marketing spending. We keep a very close eye on CAC and payback to make sure we can have a very healthy business model, and we will just be very dynamic to adjust our marketing strategy.In the second quarter, more than 10% of our new funded accounts coming from Australia and New Zealand. We still make all-out efforts, such as sponsoring the local sports team, to localize our products and services by adding more features that will give local investors more control over their investment, while keeping the user experience simple and efficient. The ranking of Tiger Trade app rose to No.31 by the end of the second quarter, the highest among online brokers in Australia. As a result, our newly registered users increased more than 80% and the trading volume also doubled on a sequential basis in Australia. We keep fine tuing our local marketing strategy and localization, and confident there will be more local users coming onto tiger platform.Q:Is your business in Singapore profitable? Any business development moves in other Southeast Asian countries?A:Yes, Tiger Singapre has turned profitable. Singapore is our largest market globally in terms of both incremental and existing clients. Strategically speaking, we will still concentrate on SG to optimize our products and services to better serve our local clients and solidify our leading position in Singapore. And yes, we will consider getting into other suitable markets in the southeast part of Aisa, based on our experience gained in Singapore, and we will keep the market notice for any substantial progress.Also, we have noticed that there are still many blue ocean markets in the online broker dealer industry, which has been getting more and more attractive to the younger generation, thus naturally leading the whole market capacity to grow.More and more clients, esp younger users, prefer products with simplified features and easy to use, it's fair to say that this trend will continue despite how the macro environment changes.Q:Hello Mr Wu, how come the company's overall employee compensation and benefits are higher than the same period of last year, against the current unfavorable market conditions? Now that the performance numbers do not look promising, why are there more employee benefits allocated?A:According to our financials, the total labor cost in the first half of this year was around 53m US dallors, in which about 27m in the 1st quarter and 25.6m in the second. It has increased compared to 37m US dollars in the first half of last year.The main reason behind this is our internationalization strategy. During the first two quarters of this year, other than Singapore, we also entered Australia and New Zealand, so when we enter a new market, similar to what we have done in Singapore, we will spend more on labor cost and branding to promote our company. In addition, there's some expense spent on upgrading the infrastructure in Hong Kong. We believe the compensation expense will resume to a lower level alongside with our development in the new regions.Q:As the Federal Reserve presents interest rate hikes, the assets balance of Tiger's client has seen a drop. Will or has the company taken any measures to counter this?A:Under the relatively weak market backdrop, we noticed that our clients tend to prefer diversified global asset allocation. So our platform could help our client to better navigate the market turmoil with our diversified products offering.Our clients' needs for asset management tend to increase recently. In the second quarter, the number of customers in Fund Mall increased by 119.1% year over year, and AUM of Fund Mall service was up by 56.9% year over year. The number of cash plus users increased by 58.5% year over year and AUM was up by 33.3% year over year. In addition, cash plus attracted more users in SG, the number of users increased by 14.9% and AUM also increased by 25.4% sequentially.Strategically speaking, we will keep concentrating on investor education and product optimization, and consequently to help our clients better navigate market turmoil and enhance client engagement. In addition, we will keep upgrading the infrastructures in Hong Kong so that we can provide better services to our clients once the market recovers.If you want to know more details,you can click here to re-watch the  Tiger Broker Q2 2022 Earnings Conference Call​

Q&A（Question-and-Answer Session）is a session after the company's prepared remarks where institutional investors and analysts ask management questions. In this dialogue, you may find some valuable information that might affect the stock price in the following weeks.Now let's look at some key points from $NIO Inc.(NIO)$ Q2 2022 Q&A Session TranscriptQ：So I've got 2 questions. The first one is about the component supply crunch. Because the supply bottleneck continuously kept the sales upside of the models like ET7. Should be concerned about any potential hiccup to the production of models like ES7 and ET5 in upcoming months? And in light of fresh round of the operating in China, what has NIO team done so far to hedge the risk of potential disruption to the company's upcoming models? And even for next year, we are going to have the NT2.0 for and EC6. So what have we done to avoid this kind of risk to our production?The second question is about the chipset. I just want to learn that, what's your take on the restriction to the export of high-end GPU from companies like Media and AMD to China? While near term, the impact to the auto industry should be pretty limited. But would that accelerate our new point of semiconductors, the localization in the upcoming models or even speed up the in-house development of our own chips for functions like autonomous driving in the future?A： Thanks, Tim, for your question. Regarding the first question. In the third quarter, especially in terms of July and August, we have some supply chain hiccups. And we believe COVID-19 resurgence in some regions in China in September also effects of our supply chain to some extent. But based on our experience, accumulated throughout the March and the April experience in Shanghai, we believe that the COVID-19 impact is under control compared with that of the quarter.Regarding the macro casting components, the yield rate is below our expectation, and this has affected the vehicle delivery to us, but we have already taken multiple measures to use the yield rate of the macro casting components. For example, we have already sent over dozens of engineers to our suppliers to help them to improve the yield rates that we have already witnessed some improvements. At the same time, we have also introduced some new partners for the micro testing component. We believe we have already resolved this due to some extent, the preliminary stage, we understand properly in October, we should be able to resolve this issue at once.Of course, we are about our delivery in the fourth quarter, and we are confident that our delivery targets for the whole year. Of course, there will be many challenges ahead of us, but we will drive back to achieve the target and improve delivery performance in the fourth quarter.Regarding the U.S. shipment related with the AI training chipset, we believe that this will not have an impact on our business operations. Based on offer estimations over computing power is sufficient for our autonomous driving technology in in the aspect of the AI training for now, and we have been working very closely with our partner, NVIDIA. At the same time, we have been keep monitoring the situation very closely. We understand -- there are also many AI chipsets type companies in China who are working on the mass production of their chipset, so we are evaluating a different kind of technical solutions for this AI training chipsets, and we would like to work with different companies on this respect. Basically, we believe that this is not going to affect our long-term strategy.Of course, we are building of our core technology and the capabilities, including the chipset. And we believe our target is to build the full stack in-house capabilities in all those key core technologies. We are building our capabilities, and we believe that this is going to help us to mitigate the political risks and the regulatory risks. At the same time, it can also help us to improve our technology powers and also offer gross margin as well.Q：What is your latest guidance in the SG&A and the R&D ratio, considering more industry competition and also overall lower sales for the industry. Do you have any new target for your point of sales?Second question your ET5 5 and ET7 have very good feedback during the Chengdu Auto Show. But currently, there is more competition and product iteration in the industry. Will you speed up the new product launch? And also, could you give some guidance regarding your 2023 new model plan? And can you also share do you have any plan for third brand?A：Thanks, Ming, for the question. Yes, in the industry, we have seen many companies launching good products in the market. But in terms of the investment, we would like to follow our own strategy and cadence. In terms of R&D, of course, this is our long-term strategy. We'd like to make decisive investments on R&D. This year, we have ramped up of our R&D investment to improve our long-term competitiveness.And also for the SG&A, as a percentage of the revenue, we believe the long-term trend is -- this is going down. And we don't expect to change our pace or our strategy just because of the competition in the external environment, we would like to make sure we can focus and determined on our own strategy and pace.Well, for the ET5, we have already showcased the ET5 in different aspects in the Chendu Auto Show and other exhibitions and auto so as well. We have also received a wide range of media coverage for the ET5. ET5 has attracted a lot of attention of the users, the public and the media, and we have received very good reviews and feedback from the user itself. Next year, we plan to further launch more products based on the NT2 technology platforms, and we plan to upgrade our parent ADV to the technology platform 2.0. We believe with all the product rolled over to the new technology platform 2.0, we will be very confident regarding our market performance at that time.Because if we look at the ET7, the ES7 and the ET5, we the comprehensive competitiveness of the NT2 technology platform. And we have launched many innovations that have been very much welcomed by our users. Of course, at this moment, I cannot share much details regarding the new product launch, and we would like to say that we are going to accelerate the ramp-up of our new products based on the new technology platform.Okay. Regarding the third question, of course, we would like to have more and more users to use of the products and enjoying of our technologies. At the same time, to pay attention to the users' needs and advance at different price range and users of a different brand may have a different need regarding the products and the technologies. So for us, we would like to have more smart EV users to experience our products and enjoy the benefits of those core technologies, and we will make decisive planning regarding this.Q：My first question is the full year volume guidance. As you already previous guide that second half this year, the volume guidance will be 100,000 units. If you're considering our third quarter guidance, that means fact in the last quarter, #4 quarter, your volume will be around 68,000 units. Is that true or not say in October '23 or in November '22 and December '24 to '25 think about your volume progress? That's the other 1 question.And then 2 is about the order backlog. We actually do some data visit to a dealer. They told me tight 3 to 4 months with a new products, say, yes, 785. So can I assume both 15,000 are ordered for the 7, 15,000 for ET7 and roughly 55,000 for ET5. So together, you've got an 80,000 order backlog. That is the right way to think about the order backlog? That's the second question.And last one is about margin outlook in the number 3 quarter. Basically, the second quarter guidance, previously, that will be declined 3% to 4% Q-on-Q and right now the margin seems to be better than your guidance, right? So what's your outlook for the number 3 quarter? You actually have been with the price for 2x for the old products, should the third quarter gross margin return to a level in the first quarter and this year?A：Thanks, Bin, for your question. Previously, I've also mentioned that we will try our best to meet the delivery target for this year. Of course, this means that the fourth quarter is going to witness a lot of pressure and the challenges on our delivery and supply. We have already started to make the preparation for the delivery starting from the third quarter. We believe starting from the fourth quarter, we're going to have the 2 factories are running to make sure we can support the delivery demand.Actually, starting from the third quarter, have already kicked off of the tooling and the preparation for the mass production of ET5 at large scale in the factory II in the NIO part. At the beginning, we believe the production capacity of the Factory 2 is a relatively lower compared with the Factory 1 because the factory I will only need to manufacture one product that is ET5. So we believe in the fourth quarter, we are going to break record every month. And we are confident to achieve the record-breaking target for the fourth quarter, and we have been making active preparations to meet this target as well.Actually, we haven't -- yes. Regarding the specific order information, we believe we haven't disclosed this information for a long time because different companies have different definitions and understanding regarding the orders. But what I can say now is that we have a sufficient order backlog regarding the ES7 and the ET7. Actually, for the ES7, we believe the order performance at much better than our expectation. For the ET5, the waiting time is much longer.Recently, we believe that the bottleneck or the constraints and not about the demand, is mainly about the production capacity of the supply chain, of course, for our own production capacity. So we believe we have already made sufficient preparations, but the main constraint will be in the supply chain.Q：Okay. William, yes. For the third question about the gross profit margin of Q3 and second half year. Sure, the company has taken multiple measures to improve our gross margin profit. And we reached the selling prices of certain vehicle models by and ET7, and most of the positive impact will be reflected in Q3. Most of es7 starting to be delivered in Q3, our first addition with higher price and margins. So we expect a slight increase of vehicle margin in Q3. But in short term, we are still facing great uncertainty and challenges regarding the battery cost which will be -- which will have a negative impact to our gross margin. Thank you, Bin.The above Q&A are highlights that are edited for brevity.Click here for the full NIO Q2 2022 Earnings Call Transcript.​​​​​​​​​If you want to know more details,you can click here to re-watch the  NIO Q2 2022 Earnings Conference Call​

Please leave your questions in the comment section, and you will receive 30 Tiger Coins.UP Fintech ($Tiger Brokers(TIGR)$) announced its unaudited financial results for the three months ended June 30, 2022. During the reporting period, UP Fintech registered revenue of US$53.5 million. Non-GAAP net income was US$3.5 million, compared to a non-GAAP net loss of US$4.4 million in the same quarter of last year.During the reporting period, the number of customer accounts increased by 38,800, totaling 1.9 million, and the number of customers with deposits increased to 731,400, up 38.2% from the same quarter last year. Over 70% of funded accounts were from markets outside of mainland China. Net asset inflows from customers exceeded US$1.5 billion during the second quarter. The company retained 99% of its customers on a quarterly basis."For details of financial report, please click: UP Fintech posts revenue of US$53.5 million in 2022 Q2Tiger Brokers will host its Q2 Earnings Conference Call at 20:00 Beijing Time/ SGT today. Please click: Q2 Earnings Conference CallThe meeting will have an "Individual Investors Q&A" session. Please leave your questions in the comment area.All Tigers who leave a comment on this post will receive 30 Tiger Coins. 💵 💵 💵 Excellent questions will also have the opportunity to be answered directly by CEO during the live broadcast.⏰The activity will last until 8 p.m. SGT~$Tiger Brokers(TIGR)$

Q&A（Question-and-Answer Session）is a session after the company's prepared remarks where institutional investors and analysts ask management questions. In this dialogue, you may find some valuable information that might affect the stock price in the following weeks.Now let's look at some key points from $Pinduoduo Inc.(PDD)$ Q2 2022 Q&A Session TranscriptQ:I have two questions. First, on the second quarter growth rate, we noticed very strong online marketing service revenue that record, a strong growth of 39% year-on-year. And this reaccelerated from the previous two quarters. What's the reason behind this quarter strong growth?And the second question is on the brands. Can management speak more about the progress on bringing more brands onto our platform? We saw many brands participate in our future events. How does this help our growth for this quarter? And what's your overall plan for the brand recruitment? Thank you.A: Kenneth, I am happy to take your questions. First, about our revenue growth, starting from the second half of May, we saw a trend of consumption recovery. Also, we actually made efforts to facilitate consumer spending by offering various forms of promotion to help with consumption recovery. And during this year's June 2018 event, we saw many merchants as well as brands actively participating. We also saw solid demand coming from consumers. Given this background on our platform many categories including FMCG products, agricultural produce, consumer electronics and cosmetics these categories all had a decent growth on our platform.In addition, we always try our best to satisfy consumer demand. And -- this is inseparable from many of our team members hard-work during the past period of time. They worked very hard to help many consumers meet their essential demand. And we are grateful towards our team's hard-work during this process.At the same time, we also saw that competition landscape is still very intense. And in terms of satisfying our consumers' needs, we have many areas that we can further improve. And as I mentioned earlier, due to outside reserve, our overall investment activity during the second quarter was impacted and this is actually not beneficial to our long-term competitiveness. And therefore, we need to further step up our efforts and also strengthen our core capability, so that we can create more value for consumers, as well as for other society.And as for your second question, our brand we see that the needs from our consumers on our platform are becoming more and more diversified. And different consumers, they have different needs in different product categories and across different consumption scenarios. Therefore, it is very natural for them to need more choices and more products. And our goal is always to better serve our consumers and to bring them more savings, more shopping experience.And in terms of how to serve the consumers we believe that essentially, the brands goal and our goal are well aligned. That is to serve consumers well. So we would continue to focus on our own part and remain to be very down to earth and patient. Thank you. Okay. Operator, we may now move on to the next analyst.Q:Good evening management. Thanks for taking my questions. My first question is related to the overseas expansion. Could management share some colors on the reported new initiatives in the overseas market with the latest status, any main target market and what's the core value proposition of this new business? And my second question is related to the transaction service revenue. Transaction service revenue continued to grow faster than the online marketing revenue this quarter. Also, we actually see it accelerated from the last quarter to a triple digit year-over-year growth. I mean we know like what's the reason behind?A: Joyce. So let me address your first question, and I will hand it over to Jun to answer your other questions. First, on our overseas business, first of all, we are a young company with a relatively young team. And everyone is continuing to grow and searching for new opportunities during our growth process. And overseas business is one of the opportunities that we see, and we also see that the possibility of creating value in this opportunity. At the same time, we also see that many peers in the industry achieving good results. So we believe that it is a direction that is worth trying out for us.And with that said, we will not just simply repeat what others have done in this field. What is important to us is that we will start from the needs of consumers and strive to create our own unique value. And at the same time, we are sufficiently aware that overseas business will be, of course, challenges, and it will require constant trials and experimentation. This process would not just happen overnight. But the experience gained along the way would prove to be very valuable to our company as well as to our team. Thank you.A:Okay. Thanks for your question, Joyce. Your question about transaction services revenue. Well, first, we always remain consumer-centric, operating metrics and the financial metrics natural results from how we reserve consumers. And over the past quarter, because of consumption recovery, we had use engagement and transactions. This contributed to the revenue growth. And in addition, for us, our business cycle does not always matched exactly to our quarterly financial reporting cycle. And we are not managing our business on a quarterly basis. So it is common to see fluctuations between quarters, we remain focused on serving consumers better and investing creates a long-term value. Thank you.Q: Thanks management for taking my question. My first question is about cost control and efficiencies, given the macro uncertainties right now, and we are seeing a lot of Internet companies exercising sort of cost control. I just want to get some color from management about our cost control strategies.And my second question is about our profitability. Given the second quarter earnings comes in better than expected market expectations, how should we think about the profitability trend in the second half? Thank you.A:Hi, Thomas. So let me address your first question. First of all, I believe that we are still in the development stage, not the stabilized stage. And at this point in time, we still have allow it to go and a lot of work to do to serve our consumers well.[Foreign Language] And as a part of our development, to constantly satisfy our consumer demand would take a lot of patients. Not only do we need to constantly explore, but we also need to seize the key opportunities and also make the relevant investments.And in the past quarter and especially during the first half of the second quarter, our team's investment activity was impacted. And during the short term, this might bring about decent financial results. But if we look at it with a long-term perspective, this actually weakens our competitiveness.And therefore, looking ahead, we would always think about the long-term and we would remain very committed to investing for the future. We need to further strengthen our core capabilities and to continue to focus on investing into the field of agriculture and R&D over the long term in order to create value for consumers as well as for the society. And this would support our long-term and high-quality development. And this is my thinking on our overall strategies and hope to address your first question.A:Okay. This is Jun. Thanks, Thomas. I will take your second question. For your second question about profits, well, as mentioned before, we have not changed our strategy on -- to the focus on profitability. So for the past quarter alone, our profitability was mainly attributable to a number of external factors, which are mostly short term or one-off nature.On the revenue side, we saw a good level of user engagements and consumption, which are mostly boosted by consumption recovery. At the same time, we still face very intense competition.For the expense side, factors such as project delays and a decrease in business-related activities led to the short-term impact in our Q2 expenses. And to sum up, this quarter’s profitability is due to short-term factors combined. So it is not a good benchmark for future preference, and this is our view on profitability. Thank you.The above Q&A are highlights that are edited for brevity.Click here for the full Pinduoduo Q2 2022 Earnings Call Transcript.​​​​​​​​If you want to know more details,you can click here to re-watch the  Pinduoduo Q2 2022 Earnings Conference Call​

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