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rocat
rocat
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2021-06-29
Gg
Goldman Sachs: What Happens If Inflation Keeps Upward?
目前标普500指数已处于历史新高，仅比高盛4300点的全年目标点位低1%。 但高盛首席股票策略师David Kostin警告称，4300的指数预期是建立在“通胀将减少，收益率会上升，拜登部分税改计划将
Goldman Sachs: What Happens If Inflation Keeps Upward?
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rocat
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2021-06-28
Oh no
Is Another Housing Bubble Building?
The price of housing has dominated financial news recently. For renters, the price of an average apa
Is Another Housing Bubble Building?
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rocat
rocat
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2021-06-27
Cool
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rocat
rocat
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2021-06-25
Ok
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rocat
rocat
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2021-06-23
..
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rocat
rocat
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2021-06-22
Wah
Domestic "online celebrity" electric cars, the secret behind cheapness
国产廉价电动车，重出江湖。
Domestic "online celebrity" electric cars, the secret behind cheapness
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rocat
rocat
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2021-06-22
.
Spark Thinking Submits IPO Application in the United States, Revenue Grows 202.7% in the First Quarter
据美国证券交易委员会文件：火花思维教育科技公司提交在美IPO申请，拟筹资达1亿美元，寻求在纳斯达克上市，股票代码为SPRK。 招股书显示，火花思维2019年营收为1.95亿元，2020年营收为11.7
Spark Thinking Submits IPO Application in the United States, Revenue Grows 202.7% in the First Quarter
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rocat
rocat
·
2021-06-21
Ok//
@SIONGBENG
: Good
3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%
Meme stocks have been all the rage so far this year. That's understandable, with several of them del
3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%
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2021-06-21
Hi
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2021-06-17
Hi
Musk-Touted CureVac Loses 49% of Value After Vaccine Setback
Company plunges After Covid Shot Falls Short With 47% Efficacy Effectiveness is far below that seen
Musk-Touted CureVac Loses 49% of Value After Vaccine Setback
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If the above assumptions change, there may be volatility and correction risks in U.S. stocks.</p><p>What happens if inflation keeps going upward?</p><p>At present, Goldman's underlying assumption is that the surge in inflation will be temporary. With the expiration of temporarily supplemented unemployment benefits over the next 3-6 months, labor supply will rebound sharply by the end of the year, wage pressures will ease, and the U.S. core CPI will fall to 2.3% next year from the current 3.8%.</p><p>However, Kostin warned that the unexpected upward trend of U.S. inflation would have a significant impact on the company's valuation and profit margins. Rising input costs, including wages, could weigh on profit margins if firms fail to raise prices enough to offset inflation.</p><p>Based on Goldman's top-down model,<b>For every 1% of the core CPI inflation in the United States exceeding the forecast value, the revenue of S&P 500 companies will also increase by about 1 percentage point, but the net profit margin will decline by about 10 basis points.</b>While in the case of mild changes in inflation, the S&P 500's EPS will remain unchanged relative to Goldman's average forecast.</p><p>The continued upward trend in inflation will also have a \"significant adverse impact\" on the company's valuation.</p><p>Kostin said,<b>The continued rise in inflation could lead the Fed to take more tightening measures than currently anticipated, early rate hike and pull down stock valuations.</b></p><p>At present, Goldman Sachs expects the Federal Reserve to announce in December that it will start tapering bond purchases in early 2022 and start a rate hike in the second half of 2023.</p><p>Historically, U.S. stocks have generally performed better in low-inflation market environments. Since 1960, the median annual real return on the S&P 500 has been 15% in periods of low inflation, compared to just 9% in periods of high inflation. While in periods of high inflation, stocks perform better with falling inflation (15%) than with rising inflation (2%).</p><p>On the subdivision plate,<b>Goldman Sachs believes that high inflation will boost the relative performance of stocks with higher pricing power. Sectors such as healthcare, energy, real estate and consumer goods will outperform.</b></p><p><img src=\"https://static.tigerbbs.com/3a7e6661f82b9216df345728b0372948\" tg-width=\"640\" tg-height=\"415\" referrerpolicy=\"no-referrer\"></p><p>What happens if interest rates fall or rise more than the market expects?</p><p>At present, Goldman Sachs has set the benchmark target of S&P 500 at 4,300, assuming that the yield of 10-year U.S. bonds will rise to 1.9% by the end of 2021, and the P/E of U.S. stocks will stabilize at around 22x.</p><p>Goldman Sachs expects the rise in U.S. nominal Treasury Bond yields this year to be driven mainly by real interest rates and in part by rising global bond yields; While the equity risk premium (ERP) is set to decline in the second half of the year, offsetting some of the impact of higher interest rates on stock valuations and leaving P/E roughly flat through the end of the year.</p><p>But Goldman Sachs said that if US Treasury yields fails to rise due to weak economic growth, then corporate earnings will also fall. This means that despite the decline in yields, so will the S&P 500.</p><p>In the other scenario, all else held constant, if interest rates rise more than Goldman Sachs expects and climb to 2.5% by the end of the year, the S&P 500 base point will drop to 3550, a 17% downside from the current point.</p><p><img src=\"https://static.tigerbbs.com/0a18e76ae1ffa3f08ed14d09a8202109\" tg-width=\"640\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p>What Happens If Biden Tax Reform Fails?</p><p>On the Biden tax reform front, Goldman's basic assumption at the moment is that parts of Biden's full tax proposal will become law by the end of the year and take effect in 2022, which will drop the S&P 500's EPS by 5% compared to forecasts under the current tax code. While under the current tax policy, the S&P 500 is expected to reach EPS of $212 in 2022, an increase of 10%.</p><p><img src=\"https://static.tigerbbs.com/08c9d54e29e6f312c60991cd3c4ebb65\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"></p><p>On the details of the tax reform, Goldman Sachs expects the federal statutory corporate tax rate to be raised from 21% to 25% instead of the 28% Biden has proposed. About half of the proposed overseas income tax hike would become law, raising the capital gains tax rate to 28% for high-income individuals.</p><p>Based on these assumptions,<b>Goldman Sachs expects 2022 EPS for the S&P 500 to reach $202 (up 5% from 2021), while under current tax policy, it expects 2022 EPS to reach $212, up 10%.</b></p><p>According to Goldman's base forecast of 22.3x P/E at the end of 2021,<b>In the event of a \"no-tax reform\" scenario, the bank's 2022 S&P 500 EPS forecast will increase by 5%, supporting the 4,500 target level.</b></p><p>Kostin also said that growth stocks typically get a boost if corporate income taxes and capital gains taxes are not raised. In terms of capital gains taxes, growth stocks such as technology stocks are at the greatest potential risk of selling if tax increases land later this year.</p>","source":"highlight_wallstreetcn","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: What Happens If Inflation Keeps Upward?</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: What Happens If Inflation Keeps Upward?\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\">2021-06-28 23:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The S&P 500 is now at an all-time high, just 1% below Goldman's full-year target of 4,300.</p><p>However, David Kostin, chief equity strategist of Goldman Sachs, warned that the index expectation of 4300 is based on the macro assumption that \"inflation will decrease, yields will rise, and some of Biden's tax reform plans will be passed into law\". If the above assumptions change, there may be volatility and correction risks in U.S. stocks.</p><p>What happens if inflation keeps going upward?</p><p>At present, Goldman's underlying assumption is that the surge in inflation will be temporary. With the expiration of temporarily supplemented unemployment benefits over the next 3-6 months, labor supply will rebound sharply by the end of the year, wage pressures will ease, and the U.S. core CPI will fall to 2.3% next year from the current 3.8%.</p><p>However, Kostin warned that the unexpected upward trend of U.S. inflation would have a significant impact on the company's valuation and profit margins. Rising input costs, including wages, could weigh on profit margins if firms fail to raise prices enough to offset inflation.</p><p>Based on Goldman's top-down model,<b>For every 1% of the core CPI inflation in the United States exceeding the forecast value, the revenue of S&P 500 companies will also increase by about 1 percentage point, but the net profit margin will decline by about 10 basis points.</b>While in the case of mild changes in inflation, the S&P 500's EPS will remain unchanged relative to Goldman's average forecast.</p><p>The continued upward trend in inflation will also have a \"significant adverse impact\" on the company's valuation.</p><p>Kostin said,<b>The continued rise in inflation could lead the Fed to take more tightening measures than currently anticipated, early rate hike and pull down stock valuations.</b></p><p>At present, Goldman Sachs expects the Federal Reserve to announce in December that it will start tapering bond purchases in early 2022 and start a rate hike in the second half of 2023.</p><p>Historically, U.S. stocks have generally performed better in low-inflation market environments. Since 1960, the median annual real return on the S&P 500 has been 15% in periods of low inflation, compared to just 9% in periods of high inflation. While in periods of high inflation, stocks perform better with falling inflation (15%) than with rising inflation (2%).</p><p>On the subdivision plate,<b>Goldman Sachs believes that high inflation will boost the relative performance of stocks with higher pricing power. Sectors such as healthcare, energy, real estate and consumer goods will outperform.</b></p><p><img src=\"https://static.tigerbbs.com/3a7e6661f82b9216df345728b0372948\" tg-width=\"640\" tg-height=\"415\" referrerpolicy=\"no-referrer\"></p><p>What happens if interest rates fall or rise more than the market expects?</p><p>At present, Goldman Sachs has set the benchmark target of S&P 500 at 4,300, assuming that the yield of 10-year U.S. bonds will rise to 1.9% by the end of 2021, and the P/E of U.S. stocks will stabilize at around 22x.</p><p>Goldman Sachs expects the rise in U.S. nominal Treasury Bond yields this year to be driven mainly by real interest rates and in part by rising global bond yields; While the equity risk premium (ERP) is set to decline in the second half of the year, offsetting some of the impact of higher interest rates on stock valuations and leaving P/E roughly flat through the end of the year.</p><p>But Goldman Sachs said that if US Treasury yields fails to rise due to weak economic growth, then corporate earnings will also fall. This means that despite the decline in yields, so will the S&P 500.</p><p>In the other scenario, all else held constant, if interest rates rise more than Goldman Sachs expects and climb to 2.5% by the end of the year, the S&P 500 base point will drop to 3550, a 17% downside from the current point.</p><p><img src=\"https://static.tigerbbs.com/0a18e76ae1ffa3f08ed14d09a8202109\" tg-width=\"640\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p>What Happens If Biden Tax Reform Fails?</p><p>On the Biden tax reform front, Goldman's basic assumption at the moment is that parts of Biden's full tax proposal will become law by the end of the year and take effect in 2022, which will drop the S&P 500's EPS by 5% compared to forecasts under the current tax code. While under the current tax policy, the S&P 500 is expected to reach EPS of $212 in 2022, an increase of 10%.</p><p><img src=\"https://static.tigerbbs.com/08c9d54e29e6f312c60991cd3c4ebb65\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"></p><p>On the details of the tax reform, Goldman Sachs expects the federal statutory corporate tax rate to be raised from 21% to 25% instead of the 28% Biden has proposed. About half of the proposed overseas income tax hike would become law, raising the capital gains tax rate to 28% for high-income individuals.</p><p>Based on these assumptions,<b>Goldman Sachs expects 2022 EPS for the S&P 500 to reach $202 (up 5% from 2021), while under current tax policy, it expects 2022 EPS to reach $212, up 10%.</b></p><p>According to Goldman's base forecast of 22.3x P/E at the end of 2021,<b>In the event of a \"no-tax reform\" scenario, the bank's 2022 S&P 500 EPS forecast will increase by 5%, supporting the 4,500 target level.</b></p><p>Kostin also said that growth stocks typically get a boost if corporate income taxes and capital gains taxes are not raised. In terms of capital gains taxes, growth stocks such as technology stocks are at the greatest potential risk of selling if tax increases land later this year.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3634039\">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/4b6684517506a0b0f4c4c5a1c4889261","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://wallstreetcn.com/articles/3634039","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1144270623","content_text":"目前标普500指数已处于历史新高，仅比高盛4300点的全年目标点位低1%。\n但高盛首席股票策略师David Kostin警告称，4300的指数预期是建立在“通胀将减少，收益率会上升，拜登部分税改计划将通过成为法律”的宏观假设基础上的，如果上述假设出现变化，美股可能存在波动及回调风险。\n如果通胀持续上行会发生什么？\n目前高盛的基础假设是，通货膨胀飙升会是暂时的。随着未来3-6个月内临时补充的失业救济到期，劳动力供应将在年底前大幅反弹，薪资压力将得到缓解，美国核心CPI明年将从目前的3.8%下降到2.3%。\n但Kostin警告称，美国通胀的超预期上行将对公司估值及利润率造成重大影响。如果企业未能将价格提高到足以抵消通胀的程度，包括工资在内投入成本不断上升可能会对利润率构成压力。\n基于高盛的自上向下的模型，美国核心CPI通胀每超出预测值1%，标普500指数成分股企业营收也将增长大约1个百分点，但净利润率会下滑10个基点左右。而在通胀温和变化的情况下，标准普尔500指数的每股收益相对于高盛的平均预测将保持不变。\n通胀的持续上行也将对公司估值构成“重大的不利影响”。\nKostin表示，通胀的持续上升可能导致美联储采取比目前预期更多的紧缩措施，提前加息并拉低股票估值。\n目前高盛预计美联储将在12月宣布将在2022年初开始缩减购债规模，并在2023年下半年开始加息。\n从历史角度，美国股市在低通胀的市场环境下通常表现较好。自1960年以来，标准普尔500指数在低通胀时期的年均实际回报率中值为15%，而在高通胀时期仅为9%。而在高通胀时期，股票在通胀下降（15%）的情况下比在通胀上升（2%）的情况下表现更好。\n在细分板块上，高盛认为高通胀将提振具有较高定价权的股票的相对表现。医疗保健、能源、房地产和消费品等板块将跑赢大盘。\n\n如果利率下降或上升超过市场预期会发生什么?\n目前高盛给予标普500指数的基准目标位定为4300，其假设条件是，10年期美债收益率到2021年底将升至1.9%，且美股市盈率将稳定在22x左右。\n高盛预计今年美国名义国债收益率的上升将主要受实际利率的推动，部分受全球债券收益率上升的推动；而股票风险溢价(ERP)将在今年下半年下降，抵消利率上升对股票估值的部分影响，并使市盈率在年底前大致持平。\n但高盛表示，如果美债利率因经济增长疲软而未能上升，那么企业的盈利也将下降。这意味着，尽管收益率下降，标准普尔500指数也会下降。\n在另一种情况下，在其他情况不变的情况下，如果利率上涨超出高盛的预期，到年底攀升至2.5%，标普500指数的基础点位将下降至3550，较目前点位有17%的下跌空间。\n\n如果拜登税改失败会发生什么？\n在拜登税改方面，目前高盛基本假设认为，拜登的全部税收提案的部分内容将在年底前成为法律，并于2022年生效，这将使标普500指数的EPS较现行税法下的预测下降5%。而在当前税收政策下，预计标普500指数2022年的每股收益将达到212美元，增幅为10%。\n\n在税改细节方面，高盛预计，联邦法定企业税率将从21%上调至25%，而不是拜登提议的28%。拟议的海外所得税上调计划中大约有一半将成为法律，高收入个人的资本利得税税率将提高到28%。\n基于这些假设，高盛预计标普500指数2022年的EPS将达到202美元（比2021年增长5%），而在当前税收政策下，预计2022年的EPS将达到212美元，增幅为10%。\n根据高盛对2021年底市盈率22.3倍的基本预测，如果出现“无税制改革”的情况，该行对2022年标普500指数EPS的预期将提高5%，支持4500点的目标位。\nKostin同时表示，如果企业所得税和资本利得税没有提高，成长型股票通常受到提振。在资本利得税方面，如果今年晚些时候增税政策落地，科技类股等成长型股票遭受抛售的潜在风险最大。","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4495,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127434704,"gmtCreate":1624862117408,"gmtModify":1703846458798,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"htmlText":"Oh no ","listText":"Oh no ","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127434704","repostId":"1163833569","repostType":4,"repost":{"id":"1163833569","kind":"news","pubTimestamp":1624860588,"share":"https://ttm.financial/m/news/1163833569?lang=en_US&edition=fundamental","pubTime":"2021-06-28 14:09","market":"us","language":"en","title":"Is Another Housing Bubble Building?","url":"https://stock-news.laohu8.com/highlight/detail?id=1163833569","media":"thestreet","summary":"The price of housing has dominated financial news recently. For renters, the price of an average apa","content":"<p>The price of housing has dominated financial news recently. For renters, the price of an average apartment takes up an ever-greater share of personal income every year. This is particularly true in big cities, where a one-bedroom apartment can often cost between $2,500 and $3,000.</p>\n<p>But the real headlines have been in the market for single-family housing. In many communities home prices have increased by between 30% and 50% in just the past two years. This has led median prices for a starter home over $280,000 nationwide, and to nearly $500,000 in the towns and suburbs near major cities.</p>\n<p>OnReal Money, contributor Doug Kass takes a quick aim at spiraling home prices. “We need more lower cost homes to ease the intense upward price pressures but we know how difficult it is right now to deliver enough of them. More than 10 years of underinvestment because of the Fed-induced housing boom and bust means we need a lot more homes,” he writes.</p>\n<p>“I have been warning that much higher home prices (and reduced affordability) would create a cyclical peak in residential real estate (homebuilder stocks have begun to roll over recently),” Kass says.</p>\n<p>Is another bubble building?</p>\n<p>While there’s no way of knowing, one warning sign is the ratio of house prices to incomes. Credit standards have remained tight, and banks haven’t weakened their standards on down payments. That isn’t necessarily a good thing though.</p>\n<p>One of the biggest causes behind the housing crash of 2008 was the growing degree to which people struggled to keep up with their own mortgages in a highly overheated market that had sent prices climbing.</p>\n<p>As Kass points out in his diary, today prices aren’t just climbing, they’re soaring. Compared to 2008, buyers now have to spend more of their income keeping up with the minimum mortgage it takes to buy even a small house. They have to lay out more of their savings on the down payment.</p>\n<p>The ratio of house prices-to-household income is higher than it was going into the Great Recession. That isn’t necessarily a warning sign. But it isn’t good, either.</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>Is Another Housing Bubble Building?</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Another Housing Bubble Building?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 14:09 GMT+8 <a href=https://www.thestreet.com/investing/is-another-housing-bubble-building><strong>thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of housing has dominated financial news recently. For renters, the price of an average apartment takes up an ever-greater share of personal income every year. This is particularly true in ...</p>\n\n<a href=\"https://www.thestreet.com/investing/is-another-housing-bubble-building\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.thestreet.com/investing/is-another-housing-bubble-building","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163833569","content_text":"The price of housing has dominated financial news recently. For renters, the price of an average apartment takes up an ever-greater share of personal income every year. This is particularly true in big cities, where a one-bedroom apartment can often cost between $2,500 and $3,000.\nBut the real headlines have been in the market for single-family housing. In many communities home prices have increased by between 30% and 50% in just the past two years. This has led median prices for a starter home over $280,000 nationwide, and to nearly $500,000 in the towns and suburbs near major cities.\nOnReal Money, contributor Doug Kass takes a quick aim at spiraling home prices. “We need more lower cost homes to ease the intense upward price pressures but we know how difficult it is right now to deliver enough of them. More than 10 years of underinvestment because of the Fed-induced housing boom and bust means we need a lot more homes,” he writes.\n“I have been warning that much higher home prices (and reduced affordability) would create a cyclical peak in residential real estate (homebuilder stocks have begun to roll over recently),” Kass says.\nIs another bubble building?\nWhile there’s no way of knowing, one warning sign is the ratio of house prices to incomes. Credit standards have remained tight, and banks haven’t weakened their standards on down payments. That isn’t necessarily a good thing though.\nOne of the biggest causes behind the housing crash of 2008 was the growing degree to which people struggled to keep up with their own mortgages in a highly overheated market that had sent prices climbing.\nAs Kass points out in his diary, today prices aren’t just climbing, they’re soaring. Compared to 2008, buyers now have to spend more of their income keeping up with the minimum mortgage it takes to buy even a small house. They have to lay out more of their savings on the down payment.\nThe ratio of house prices-to-household income is higher than it was going into the Great Recession. That isn’t necessarily a warning sign. But it isn’t good, either.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3193,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124386801,"gmtCreate":1624742727003,"gmtModify":1703844228426,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/124386801","repostId":"2146107083","repostType":4,"isVote":1,"tweetType":1,"viewCount":3702,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126619902,"gmtCreate":1624558223706,"gmtModify":1703840375255,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126619902","repostId":"1147667017","repostType":4,"isVote":1,"tweetType":1,"viewCount":2921,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129709355,"gmtCreate":1624385956777,"gmtModify":1703835239846,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"htmlText":".. ","listText":".. ","text":"..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129709355","repostId":"1191907311","repostType":4,"isVote":1,"tweetType":1,"viewCount":3148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120947159,"gmtCreate":1624293967771,"gmtModify":1703832824946,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"htmlText":"Wah","listText":"Wah","text":"Wah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120947159","repostId":"1196526895","repostType":4,"repost":{"id":"1196526895","kind":"news","weMediaInfo":{"introduction":"有视角的商业资讯交流平台","home_visible":1,"media_name":"虎嗅APP","id":"101","head_image":"https://static.tigerbbs.com/98669fe7974e42f3976b3db47528792d"},"pubTimestamp":1624286593,"share":"https://ttm.financial/m/news/1196526895?lang=en_US&edition=fundamental","pubTime":"2021-06-21 22:43","market":"sh","language":"zh","title":"Domestic \"online celebrity\" electric cars, the secret behind cheapness","url":"https://stock-news.laohu8.com/highlight/detail?id=1196526895","media":"虎嗅APP","summary":"国产廉价电动车，重出江湖。","content":"<p>Author/Wang Xiaoyu</p><p>Domestic cheap electric vehicles are back in the rivers and lakes.</p><p>On June 8, the Passenger Car Association released the domestic car sales data for May. Unexpectedly, they were entangled in negative news<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>China, which did not see a big drop in sales, still sold 33,463 new cars in May, up 29% from 25,845 in April. Unexpectedly, the \"Wuling Divine Car\" Hongguang MINI EV continues to occupy the top spot with a score of 29,706 units.</p><p>Although this list lists 15 new energy vehicles eloquently, the focus of public opinion is undoubtedly on the second and third places, which are from Tesla's \"online celebrity cars\".</p><p><img src=\"https://static.tigerbbs.com/a821fb9d394d8f9f5386fd832ac7bb2a\" tg-width=\"550\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>If you study this list again carefully. I believe no Chinese car company can laugh.</p><p>Among the TOP15 models in May sales list, eight cars are priced below 100,000 yuan (including 100,000 yuan), that is to say-the vast majority of domestic new energy vehicles that sell well are low-end models.</p><p><b>First, the return of cheap electric vehicles</b></p><p>\"It looks the same as the old model, the configuration is lower than the old model, and the airbag is cancelled.\"</p><p>Recently, after visiting several 4S stores in Laiguangying area, Chaoyang District, Beijing, Huxiu found that Changan Benben EV, which ranks fourth in the sales list of new energy vehicles, is actually a cheap electric vehicle with \"reduced allocation\".</p><p>According to this<a href=\"https://laohu8.com/S/000625\">Changan Automobile</a>According to the sales introduction of 4S store, the model they currently sell here is Benben E-star National Edition, which is the \"same brother\" of the old Changan Benben EV.</p><p><img src=\"https://static.tigerbbs.com/0504107bbcf8796f95f6fe2e3a95ba84\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>Although there is no difference in appearance between the two, as a model listed on January 15th this year, the price of Changan Benben E-Star National Edition has been pulled down to 29,800 yuan, which is 20,000 yuan lower than the starting price of the lowest version of the old Benben EV of 49,800 yuan.</p><p>The new model is sold at a price reduction of 20,000 yuan. Is it that the manufacturer gives back to consumers? The Changan Automobile 4S store salesperson told Tiger Sniff that the national version of 29,800 yuan and 39,800 yuan cancelled the airbag. For comparison, the version of the old Benben EV with the lowest price of 49,800 yuan comes standard with main/co-pilot airbags.</p><p>It's 2021, and airbags aren't standard? There is more than one place suspected of reduction in Changan. According to HM \"><a href=\"https://laohu8.com/S/ATHM\">Autohome</a>The model parameters provided can be found that the national version has also cancelled the parking radar and brake assist, even the rims have been replaced from the original aluminum alloy to steel, and the air conditioner has only warm air.</p><p><img src=\"https://static.tigerbbs.com/764bebc0e19571bb4c3d9edd00517db5\" tg-width=\"550\" tg-height=\"501\" referrerpolicy=\"no-referrer\">Screenshot from Autohome</p><p>In terms of batteries, the two low-profile versions of the new model all use lithium iron phosphate batteries. It costs less than the old ternary lithium battery, but the battery range is reduced from the original 210km to 150km. \"If you want to charge quickly, you need to add 999 yuan to match,\" the salesperson told Tiger Sniff.</p><p>Even if it is reduced, the ultra-low price has attracted countless consumers to pay for it. A salesperson at the scene said that at present, most configurations don't have cars, and it will take at least one month to have a car. \"It can be settled now, and the price is just like this anyway,\" the salesman said casually before leaving.</p><p><img src=\"https://static.tigerbbs.com/0987d939878f26811eb9f12d9a3ccebe\" tg-width=\"550\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p>Cheap electric cars that don't worry about selling are not just running.</p><p>Chery eQ, ranked seventh on the sales list, was actually sold in Chery New Energy Sales Stores as \"Chery Little Ant\"-a miniature pure electric vehicle that came out in 2016.</p><p>After five years of market baptism, this car can still sell on the sales list, not by reducing allocation, but by discounts. For example, the mid-range version of 69,800 yuan has a cash discount of up to 10,000 yuan and a car purchase price of less than 60,000 yuan.</p><p><img src=\"https://static.tigerbbs.com/581c7a8e469c3802e4d5d670f300357e\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\">Chery Ant (Photo: Tiger Sniff)</p><p>The sales of Chery New Energy 4S store also said, \"There are still existing cars now, but not necessarily next month. Beijing will release a batch of new energy indicators on the 26th of this month, and July will usher in the peak season.\"</p><p>There are not a few dealers who give out tens of thousands of yuan in cash subsidies.<a href=\"https://laohu8.com/S/601633\">Great Wall Motors</a>Its Euler brand, currently on sale in a variety of models, the better sales volume is Euler Black Cat, the lowest version price is 69,800 yuan. The 4S store gives a cash discount of 10,500 yuan, and the purchase price is less than 60,000 yuan as Chery Ant. If you specify the configuration and don't have an existing car, you need to wait for at least 1 month.</p><p>Low price + cash discount has become the secret of new energy vehicle sales of traditional car companies.</p><p><b>Second, the secret behind cheap</b></p><p>In the early field of new energy vehicles, it was subsidies to sell at a low price.</p><p>For example, the guiding price range of 2017 Chery eQ electric vehicle is 169,900-171,900 yuan, and the price is 69,800-71,800 yuan after enjoying state subsidies, local subsidies and manufacturer subsidies. Based on Beijing's subsidy policy for new energy vehicles in 2017, this car can get national and local subsidies of 56,000 yuan.</p><p>There are not a few car companies that take exams for subsidies. The most direct evidence is the endurance. Since 2017, the new energy subsidy policy has higher and higher requirements for the endurance threshold, resulting in car companies continuously introducing high-endurance models to meet the policy threshold. Taking the 2018 subsidy policy as an example, compared with the 2017 policy, the subsidy amount for models with a cruising range of less than 300km has been lowered, and the subsidy for models with a cruising range of more than 300km has increased accordingly.</p><p>This year's subsidy policy is even more interesting. According to the subsidy policy notice issued on December 31, 2020, all subsidies for pure electric passenger cars with a cruising range of less than 300 kilometers will be cancelled. In front of domestic car companies, there are only two choices: First, increase the battery life to 300 kilometers and get subsidies; Second, don't subsidize, hard sell low-endurance mini-electric vehicles.</p><p><img src=\"https://static.tigerbbs.com/dc6e77909845462fa45e894feee01125\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\">Euler Black Cat (Photo: Tiger Sniff)</p><p>The first type of products will directly regard 300km battery life as the product pass line. For example, the basic version of Euler Black Cat has a battery life of 301km, Benben E-star has a battery life of 301km, and Chery Ant has a battery life of 301km. In this way, while ensuring the maximum amount of subsidy, the increase in battery cost caused by excessive battery life is avoided, and finally the product pricing is minimized.</p><p>Wuling Hongguang MINI EV belongs to the second category. Don't subsidize it, just ask for the lowest price. Hongguang MINI EV, which starts from 28,800 yuan, has a battery life of only 120km. Even the high-end version of the 43,600 yuan model has a battery life of only 170km, which is far from the subsidy threshold of 300km. It turns out that you can sell well without state subsidies. Since its launch in July last year, Hongguang MINI EV has been firmly in the middle of the market for nine consecutive months<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>Top selling in the market.</p><p>The rise of Hongguang MINI EV has made more car companies begin to explore the \"no man's land\" without subsidies. For example, the former GAC<a href=\"https://laohu8.com/S/NIO\">Nio</a>Freedom Auto, founded by founder Liao Bing, according to a person familiar with the matter, revealed to Huxiu that Freedom Auto is currently preparing to enter the micro pure electric market below 100,000 yuan, benchmarking against hot-selling models such as Hongguang MINI EV and Changan Benben EV. In addition, Sihao E10X, a product of Volkswagen, has a starting price of 39,900-75,900 yuan, and offers three endurance versions of 150km, 200km and 302km under NEDC operating conditions.</p><p>Seeing this, many people may express their doubts. Originally, fuel vehicles have never been sold so cheaply. Now why are pure electric vehicles so cheap that they compete with \"elderly scooters\" for the market? There is also a secret behind the low price, which is the double-point system.</p><p>In May this year, the Ministry of Industry and Information released the Annual Report on the Implementation of Parallel Management of Average Fuel Consumption of Passenger Car Enterprises and New Energy Vehicle Points (2021). According to the report, in 2020, among 138 passenger car enterprises in China, the negative fuel consumption points reached 6.66 million, and the positive new energy points were 3.28 million. This means that there is still a gap of 3.38 million points in double points.</p><p>A little popularization of the \"double-point system\": the production of new energy vehicles accumulates positive points, fuel vehicles accumulates negative points, and there is a clear standard for how many points various vehicles accumulate, which is limited to one year. The points of car companies = negative points of average fuel consumption + positive points of new energy vehicles. Negative points can be traded, offset, transferred, etc. with positive points.</p><p>According to the regulations, if car companies fail to meet the points requirements of new energy, they will be punished by suspending the declaration of high-fuel-consumption products and suspending the production of high-fuel-consumption products. However, for a car company with a large number of negative points for its average fuel consumption, the negative points can be compensated by using the positive points for its average fuel consumption carried forward by the company, the positive points for its average fuel consumption transferred by the company, the positive points for new energy vehicles generated by the company, and the positive points for purchasing new energy vehicles.</p><p><img src=\"https://static.tigerbbs.com/5e0b4ddf19202ec2e49e3241cc8c5422\" tg-width=\"550\" tg-height=\"265\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d0c4f49d586e24e4fca7c35064d8a579\" tg-width=\"550\" tg-height=\"263\" referrerpolicy=\"no-referrer\"></p><p>Simply put, for enterprises that mainly produce fuel vehicles, they either spend money to buy points or sell more new energy vehicles to earn points.</p><p>Not long ago, some foreign media reported that FAW-Volkswagen, a joint venture of Volkswagen in China, will buy new energy vehicle points from Tesla at a bid of about 3,000 yuan per point, much higher than the price in previous years.</p><p><a href=\"https://laohu8.com/S/601377\">Industrial Securities</a>According to the released research report, the current transaction price of new energy points has risen from the initial 300 yuan-500 yuan/min to 2,500 yuan-3,000 yuan/min, an increase of 9 times. Li Jinyong, executive president of the All-China Federation of Industry and Commerce Automobile Dealers Chamber of Commerce and president of the New Energy Vehicle Special Committee, said in an interview that this year's new energy points will continue the situation of last year's shortage, and the point price will reach 6,000-10,000 yuan/minute.</p><p>Another way is to sell more new energy vehicles. For example, SAIC-GM-Wuling won 440,000 new energy positive points in 2020, which provided a certain guarantee for SAIC-GM to solve 920,000 negative points.</p><p>With<a href=\"https://laohu8.com/S/02333\">Great Wall Motors</a>Take the Euler Black Cat of its Euler brand as an example. In 2021, an Euler Black Cat can get 2.08 positive points of new energy, and the price per cent is 6,000 yuan. The battery cost can be reduced by 100 yuan/kWh, and the cost of lithium iron phosphate can be reduced even more. Although the subsidy has been reduced, the total cost can still be reduced by 12,400 yuan. That is to say, the reduction in battery costs is enough to offset the adverse impact of the reduction in subsidies on the cost of manufacturing vehicles for enterprises.</p><p>A sales person of Euler Automobile told Huxiu that with the help of Euler brand sales, Great Wall Motor completed the double-point task last year, which means that Great Wall Motor doesn't need to spend extra money to buy new energy positive points.</p><p><img src=\"https://static.tigerbbs.com/f96da395f189240abfe1bafe3ebad45e\" tg-width=\"550\" tg-height=\"200\" referrerpolicy=\"no-referrer\">Credit: EV Spectator</p><p>For another example, the negative points of Changan Automobile's average fuel consumption in 2020 are close to 620,000 points, and the positive points of new energy are less than 30,000 points, and 600,000 points need to be compensated. Similarly, if you buy points, each point is 3,000 yuan, which will cost 1.8 billion yuan. If Benben EV is produced, the positive new energy point of each vehicle is counted as 2 points, so 300,000 vehicles need to be produced. According to insiders, even if you lose money by selling a car at a low price, it is more cost-effective than buying points, which is the main reason why Changan pushes the ultra-low price Benben E-Star.</p><p><b>Write at the end</b></p><p>A more interesting phenomenon, is happening.</p><p>On June 17th this year, the Ministry of Industry and Information Technology solicited opinions on the recommended national standard \"Technical Conditions for Pure Electric Passenger Vehicles\". The standard adds technical requirements for miniature low-speed pure electric passenger cars, which means that \"mobility scooters for the elderly\" are expected to be incorporated into formalized management from the regulatory gray area.</p><p>\"I think that bringing low-speed electric vehicles into standardized management actually gives standardized enterprises a channel to rise, and at the same time eliminates non-standardized enterprises. However, to some extent, this leads to an embarrassing situation for mini-car enterprises.\"</p><p>Cui Dongshu, secretary-general of the Automobile Market Research Branch of China Automobile Dealers Association, said in an interview that mini-car enterprises should choose between high cost and survival. If they go up, the cost will be high, and if they go down, there will be no way to survive.</p><p>Next, it is likely that you will see such a market situation-miniature pure electric vehicles produced by domestic car companies and \"Lao Tou Le\" start to compete for the market.</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>Domestic \"online celebrity\" electric cars, the secret behind cheapness</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\">\nDomestic \"online celebrity\" electric cars, the secret behind cheapness\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/101\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/98669fe7974e42f3976b3db47528792d);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">虎嗅APP </p>\n<p class=\"h-time smaller\">2021-06-21 22:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Author/Wang Xiaoyu</p><p>Domestic cheap electric vehicles are back in the rivers and lakes.</p><p>On June 8, the Passenger Car Association released the domestic car sales data for May. Unexpectedly, they were entangled in negative news<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>China, which did not see a big drop in sales, still sold 33,463 new cars in May, up 29% from 25,845 in April. Unexpectedly, the \"Wuling Divine Car\" Hongguang MINI EV continues to occupy the top spot with a score of 29,706 units.</p><p>Although this list lists 15 new energy vehicles eloquently, the focus of public opinion is undoubtedly on the second and third places, which are from Tesla's \"online celebrity cars\".</p><p><img src=\"https://static.tigerbbs.com/a821fb9d394d8f9f5386fd832ac7bb2a\" tg-width=\"550\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>If you study this list again carefully. I believe no Chinese car company can laugh.</p><p>Among the TOP15 models in May sales list, eight cars are priced below 100,000 yuan (including 100,000 yuan), that is to say-the vast majority of domestic new energy vehicles that sell well are low-end models.</p><p><b>First, the return of cheap electric vehicles</b></p><p>\"It looks the same as the old model, the configuration is lower than the old model, and the airbag is cancelled.\"</p><p>Recently, after visiting several 4S stores in Laiguangying area, Chaoyang District, Beijing, Huxiu found that Changan Benben EV, which ranks fourth in the sales list of new energy vehicles, is actually a cheap electric vehicle with \"reduced allocation\".</p><p>According to this<a href=\"https://laohu8.com/S/000625\">Changan Automobile</a>According to the sales introduction of 4S store, the model they currently sell here is Benben E-star National Edition, which is the \"same brother\" of the old Changan Benben EV.</p><p><img src=\"https://static.tigerbbs.com/0504107bbcf8796f95f6fe2e3a95ba84\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>Although there is no difference in appearance between the two, as a model listed on January 15th this year, the price of Changan Benben E-Star National Edition has been pulled down to 29,800 yuan, which is 20,000 yuan lower than the starting price of the lowest version of the old Benben EV of 49,800 yuan.</p><p>The new model is sold at a price reduction of 20,000 yuan. Is it that the manufacturer gives back to consumers? The Changan Automobile 4S store salesperson told Tiger Sniff that the national version of 29,800 yuan and 39,800 yuan cancelled the airbag. For comparison, the version of the old Benben EV with the lowest price of 49,800 yuan comes standard with main/co-pilot airbags.</p><p>It's 2021, and airbags aren't standard? There is more than one place suspected of reduction in Changan. According to HM \"><a href=\"https://laohu8.com/S/ATHM\">Autohome</a>The model parameters provided can be found that the national version has also cancelled the parking radar and brake assist, even the rims have been replaced from the original aluminum alloy to steel, and the air conditioner has only warm air.</p><p><img src=\"https://static.tigerbbs.com/764bebc0e19571bb4c3d9edd00517db5\" tg-width=\"550\" tg-height=\"501\" referrerpolicy=\"no-referrer\">Screenshot from Autohome</p><p>In terms of batteries, the two low-profile versions of the new model all use lithium iron phosphate batteries. It costs less than the old ternary lithium battery, but the battery range is reduced from the original 210km to 150km. \"If you want to charge quickly, you need to add 999 yuan to match,\" the salesperson told Tiger Sniff.</p><p>Even if it is reduced, the ultra-low price has attracted countless consumers to pay for it. A salesperson at the scene said that at present, most configurations don't have cars, and it will take at least one month to have a car. \"It can be settled now, and the price is just like this anyway,\" the salesman said casually before leaving.</p><p><img src=\"https://static.tigerbbs.com/0987d939878f26811eb9f12d9a3ccebe\" tg-width=\"550\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p>Cheap electric cars that don't worry about selling are not just running.</p><p>Chery eQ, ranked seventh on the sales list, was actually sold in Chery New Energy Sales Stores as \"Chery Little Ant\"-a miniature pure electric vehicle that came out in 2016.</p><p>After five years of market baptism, this car can still sell on the sales list, not by reducing allocation, but by discounts. For example, the mid-range version of 69,800 yuan has a cash discount of up to 10,000 yuan and a car purchase price of less than 60,000 yuan.</p><p><img src=\"https://static.tigerbbs.com/581c7a8e469c3802e4d5d670f300357e\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\">Chery Ant (Photo: Tiger Sniff)</p><p>The sales of Chery New Energy 4S store also said, \"There are still existing cars now, but not necessarily next month. Beijing will release a batch of new energy indicators on the 26th of this month, and July will usher in the peak season.\"</p><p>There are not a few dealers who give out tens of thousands of yuan in cash subsidies.<a href=\"https://laohu8.com/S/601633\">Great Wall Motors</a>Its Euler brand, currently on sale in a variety of models, the better sales volume is Euler Black Cat, the lowest version price is 69,800 yuan. The 4S store gives a cash discount of 10,500 yuan, and the purchase price is less than 60,000 yuan as Chery Ant. If you specify the configuration and don't have an existing car, you need to wait for at least 1 month.</p><p>Low price + cash discount has become the secret of new energy vehicle sales of traditional car companies.</p><p><b>Second, the secret behind cheap</b></p><p>In the early field of new energy vehicles, it was subsidies to sell at a low price.</p><p>For example, the guiding price range of 2017 Chery eQ electric vehicle is 169,900-171,900 yuan, and the price is 69,800-71,800 yuan after enjoying state subsidies, local subsidies and manufacturer subsidies. Based on Beijing's subsidy policy for new energy vehicles in 2017, this car can get national and local subsidies of 56,000 yuan.</p><p>There are not a few car companies that take exams for subsidies. The most direct evidence is the endurance. Since 2017, the new energy subsidy policy has higher and higher requirements for the endurance threshold, resulting in car companies continuously introducing high-endurance models to meet the policy threshold. Taking the 2018 subsidy policy as an example, compared with the 2017 policy, the subsidy amount for models with a cruising range of less than 300km has been lowered, and the subsidy for models with a cruising range of more than 300km has increased accordingly.</p><p>This year's subsidy policy is even more interesting. According to the subsidy policy notice issued on December 31, 2020, all subsidies for pure electric passenger cars with a cruising range of less than 300 kilometers will be cancelled. In front of domestic car companies, there are only two choices: First, increase the battery life to 300 kilometers and get subsidies; Second, don't subsidize, hard sell low-endurance mini-electric vehicles.</p><p><img src=\"https://static.tigerbbs.com/dc6e77909845462fa45e894feee01125\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\">Euler Black Cat (Photo: Tiger Sniff)</p><p>The first type of products will directly regard 300km battery life as the product pass line. For example, the basic version of Euler Black Cat has a battery life of 301km, Benben E-star has a battery life of 301km, and Chery Ant has a battery life of 301km. In this way, while ensuring the maximum amount of subsidy, the increase in battery cost caused by excessive battery life is avoided, and finally the product pricing is minimized.</p><p>Wuling Hongguang MINI EV belongs to the second category. Don't subsidize it, just ask for the lowest price. Hongguang MINI EV, which starts from 28,800 yuan, has a battery life of only 120km. Even the high-end version of the 43,600 yuan model has a battery life of only 170km, which is far from the subsidy threshold of 300km. It turns out that you can sell well without state subsidies. Since its launch in July last year, Hongguang MINI EV has been firmly in the middle of the market for nine consecutive months<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>Top selling in the market.</p><p>The rise of Hongguang MINI EV has made more car companies begin to explore the \"no man's land\" without subsidies. For example, the former GAC<a href=\"https://laohu8.com/S/NIO\">Nio</a>Freedom Auto, founded by founder Liao Bing, according to a person familiar with the matter, revealed to Huxiu that Freedom Auto is currently preparing to enter the micro pure electric market below 100,000 yuan, benchmarking against hot-selling models such as Hongguang MINI EV and Changan Benben EV. In addition, Sihao E10X, a product of Volkswagen, has a starting price of 39,900-75,900 yuan, and offers three endurance versions of 150km, 200km and 302km under NEDC operating conditions.</p><p>Seeing this, many people may express their doubts. Originally, fuel vehicles have never been sold so cheaply. Now why are pure electric vehicles so cheap that they compete with \"elderly scooters\" for the market? There is also a secret behind the low price, which is the double-point system.</p><p>In May this year, the Ministry of Industry and Information released the Annual Report on the Implementation of Parallel Management of Average Fuel Consumption of Passenger Car Enterprises and New Energy Vehicle Points (2021). According to the report, in 2020, among 138 passenger car enterprises in China, the negative fuel consumption points reached 6.66 million, and the positive new energy points were 3.28 million. This means that there is still a gap of 3.38 million points in double points.</p><p>A little popularization of the \"double-point system\": the production of new energy vehicles accumulates positive points, fuel vehicles accumulates negative points, and there is a clear standard for how many points various vehicles accumulate, which is limited to one year. The points of car companies = negative points of average fuel consumption + positive points of new energy vehicles. Negative points can be traded, offset, transferred, etc. with positive points.</p><p>According to the regulations, if car companies fail to meet the points requirements of new energy, they will be punished by suspending the declaration of high-fuel-consumption products and suspending the production of high-fuel-consumption products. However, for a car company with a large number of negative points for its average fuel consumption, the negative points can be compensated by using the positive points for its average fuel consumption carried forward by the company, the positive points for its average fuel consumption transferred by the company, the positive points for new energy vehicles generated by the company, and the positive points for purchasing new energy vehicles.</p><p><img src=\"https://static.tigerbbs.com/5e0b4ddf19202ec2e49e3241cc8c5422\" tg-width=\"550\" tg-height=\"265\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d0c4f49d586e24e4fca7c35064d8a579\" tg-width=\"550\" tg-height=\"263\" referrerpolicy=\"no-referrer\"></p><p>Simply put, for enterprises that mainly produce fuel vehicles, they either spend money to buy points or sell more new energy vehicles to earn points.</p><p>Not long ago, some foreign media reported that FAW-Volkswagen, a joint venture of Volkswagen in China, will buy new energy vehicle points from Tesla at a bid of about 3,000 yuan per point, much higher than the price in previous years.</p><p><a href=\"https://laohu8.com/S/601377\">Industrial Securities</a>According to the released research report, the current transaction price of new energy points has risen from the initial 300 yuan-500 yuan/min to 2,500 yuan-3,000 yuan/min, an increase of 9 times. Li Jinyong, executive president of the All-China Federation of Industry and Commerce Automobile Dealers Chamber of Commerce and president of the New Energy Vehicle Special Committee, said in an interview that this year's new energy points will continue the situation of last year's shortage, and the point price will reach 6,000-10,000 yuan/minute.</p><p>Another way is to sell more new energy vehicles. For example, SAIC-GM-Wuling won 440,000 new energy positive points in 2020, which provided a certain guarantee for SAIC-GM to solve 920,000 negative points.</p><p>With<a href=\"https://laohu8.com/S/02333\">Great Wall Motors</a>Take the Euler Black Cat of its Euler brand as an example. In 2021, an Euler Black Cat can get 2.08 positive points of new energy, and the price per cent is 6,000 yuan. The battery cost can be reduced by 100 yuan/kWh, and the cost of lithium iron phosphate can be reduced even more. Although the subsidy has been reduced, the total cost can still be reduced by 12,400 yuan. That is to say, the reduction in battery costs is enough to offset the adverse impact of the reduction in subsidies on the cost of manufacturing vehicles for enterprises.</p><p>A sales person of Euler Automobile told Huxiu that with the help of Euler brand sales, Great Wall Motor completed the double-point task last year, which means that Great Wall Motor doesn't need to spend extra money to buy new energy positive points.</p><p><img src=\"https://static.tigerbbs.com/f96da395f189240abfe1bafe3ebad45e\" tg-width=\"550\" tg-height=\"200\" referrerpolicy=\"no-referrer\">Credit: EV Spectator</p><p>For another example, the negative points of Changan Automobile's average fuel consumption in 2020 are close to 620,000 points, and the positive points of new energy are less than 30,000 points, and 600,000 points need to be compensated. Similarly, if you buy points, each point is 3,000 yuan, which will cost 1.8 billion yuan. If Benben EV is produced, the positive new energy point of each vehicle is counted as 2 points, so 300,000 vehicles need to be produced. According to insiders, even if you lose money by selling a car at a low price, it is more cost-effective than buying points, which is the main reason why Changan pushes the ultra-low price Benben E-Star.</p><p><b>Write at the end</b></p><p>A more interesting phenomenon, is happening.</p><p>On June 17th this year, the Ministry of Industry and Information Technology solicited opinions on the recommended national standard \"Technical Conditions for Pure Electric Passenger Vehicles\". The standard adds technical requirements for miniature low-speed pure electric passenger cars, which means that \"mobility scooters for the elderly\" are expected to be incorporated into formalized management from the regulatory gray area.</p><p>\"I think that bringing low-speed electric vehicles into standardized management actually gives standardized enterprises a channel to rise, and at the same time eliminates non-standardized enterprises. However, to some extent, this leads to an embarrassing situation for mini-car enterprises.\"</p><p>Cui Dongshu, secretary-general of the Automobile Market Research Branch of China Automobile Dealers Association, said in an interview that mini-car enterprises should choose between high cost and survival. If they go up, the cost will be high, and if they go down, there will be no way to survive.</p><p>Next, it is likely that you will see such a market situation-miniature pure electric vehicles produced by domestic car companies and \"Lao Tou Le\" start to compete for the market.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b0973327334b37476e8dc23769e2729e","relate_stocks":{"000625":"长安汽车","00305":"五菱汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196526895","content_text":"作者／王笑渔\n国产廉价电动车，重出江湖。\n6月8日，乘联会公布了5月国内汽车销量数据。意料之外的是，被负面新闻缠绕的特斯拉中国，并没有出现销量大跌的情况，5月仍售出了33,463辆新车，较4月份的25,845辆增长了29％。而意料之中的是，“五菱神车”宏光MINI EV以29,706辆的成绩，继续占据榜首。\n这份榜单，虽然洋洋洒洒列出15款新能源汽车，但是舆论的焦点无疑都汇聚在了第二、第三名，这两款来自特斯拉的“网红车”上。\n\n如果仔细再研究一下这个榜单。相信没有哪一家中国车企能笑得起来。\n5月销量榜的TOP15的车型中，有8款车售价在10万元（含10万元）以下，也就是说——卖得好的国产新能源汽车，绝大多数都是低端车型。\n一、廉价电动车重出江湖\n“跟老款长得一样，配置比老款更低，取消了安全气囊。”\n近日，虎嗅在探访位于北京朝阳区来广营地区的几家4S店后发现，新能源汽车销量榜上位列第四名的长安奔奔EV，实则是一款“减配”而来的廉价电动汽车。\n据这家长安汽车4S店的销售介绍，他们这里目前出售的车型为奔奔E-star国民版，是老款长安奔奔EV的“同门兄弟”。\n\n两者虽然外观并无差别，但作为今年1月15日上市的车型，长安奔奔E-Star国民版的价格被拉低到了2.98万元起，比老款奔奔EV最低配版本4.98万元的起售价，还要低了2万元。\n新款降价2万卖，难道是厂家用心回馈消费者吗？这位长安汽车4S店销售告诉虎嗅，2.98万元和3.98万元的国民版取消了安全气囊。作为对比，老款奔奔EV最低售价为4.98万元的版本都标配了主/副驾驶安全气囊。\n都2021年了，安全气囊竟然不是标配？疑似减配的地方，在长安这款车上不止一处。根据HM\">汽车之家提供的车型参数可以发现，国民版还取消了驻车雷达、刹车辅助， 就连轮圈也从原来的铝合金换成了钢材，空调也只有暖风。\n截图自汽车之家\n在电池方面，新款的两个低配版本，都采用了磷酸铁锂电池。比老款的三元锂电池成本更低，但续航从原来的210km降低至150km。“想要快充的话，需要加999元可以选配”，这位销售告诉虎嗅。\n即便是减配，但超低的售价也吸引了无数消费者买单。一位在场销售表示，目前大部分配置都没有车，需要等起码1个月的时间才有车。“现在都可以定了，反正价格就这样”，临走前这位销售漫不经心的说道。\n\n不愁卖的廉价电动车不止奔奔。\n销量榜上的第七名奇瑞eQ，在奇瑞新能源销售门店售出的实则为“奇瑞小蚂蚁”——一款2016年问世的微型纯电动汽车。\n经历五年的市场洗礼，这款车依旧能卖上销量榜，靠的不是减配，而是优惠。比如6.98万元的中配版，现金优惠高达1万元，购车价不到6万元。\n奇瑞小蚂蚁（拍摄：虎嗅）\n奇瑞新能源4S店的销售还表示，“现在还有现车，但下个月就不一定了，本月26号北京将释放一批新能源指标，7月会迎来旺季。”\n拿出上万元现金补贴的经销商不在少数。长城汽车旗下的欧拉品牌，目前在售多款车型中，销量较好的为欧拉黑猫，最低配版售价为69,800元。4S店给出现金优惠为10,500元，购车价与奇瑞小蚂蚁同样不到6万元。如果指定配置，没有现车的话，需要等待至少1个月以上。\n低价+现金优惠，成了传统车企的新能源汽车销量秘诀。\n二、廉价背后的秘密\n在早期的新能源汽车领域，想要卖出低价靠的是补贴。\n举个例子，2017款奇瑞eQ电动车指导售价区间为16.99-17.19万元，在享受国家补贴、地方补贴和厂家补贴后，售价为6.98-7.18万元。以2017年当年北京的新能源汽车补贴政策计算，这款车能拿到国家、地方补贴为5.6万元。\n为补贴而应试考试的车企不在少数。最直接的证据就是续航，从2017年至今，新能源补贴政策对续航的门槛要求越来越高，致使车企不断推出高续航的车型来满足政策门槛。以2018年补贴政策为例，相比2017年的政策，对续航里程300km以下的车型补贴金额进行了下调，300km以上的车型补贴相应增加。\n今年的补贴政策就更有意思，根据2020年12月31日发布的补贴政策通知，纯电动乘用车续航里程在300公里以下的一律取消补贴。摆在国产车企面前，只有两个选择：一、把续航增加到300公里，拿到补贴；二、不要补贴，硬卖低续航的微型电动车。\n欧拉黑猫（拍摄：虎嗅）\n第一类的产品，会直接把300km续航当做产品及格线。比如欧拉黑猫基础版续航为301km，奔奔E-star续航为301km，奇瑞小蚂蚁续航同样是301km。这样一来，在确保补贴金额最大化的同时，避免增加过多续航所带来的电池成本增加，最终就实现了产品定价的最低化。\n而五菱宏光MINI EV就属于第二类，不要补贴，只求最低价。2.88万元起的宏光MINI EV，续航只有120km。即便是高配版4.36万元的车型，续航也才170km，与补贴门槛的300km相去甚远。事实证明，不要国家补贴也能畅销。去年7月上市以来，宏光MINI EV连续9个月稳居中国新能源市场销冠。\n宏光MINI EV崛起，让更多车企开始探索无补贴的“无人区”。比如，前广汽蔚来创始人廖兵创办的自由汽车，据一位知情人士向虎嗅透露，自由汽车目前准备进军10万元以下的微型纯电动市场，对标宏光MINI EV、长安奔奔EV等热销车型。还有，大众汽车旗下产品思皓E10X，起售价3.99万-7.59万元，提供NEDC工况150km、200km、302km三种续航版本。\n看到这，可能有很多人表示疑惑，原来燃油车都没有卖过这么便宜，现在纯电动汽车为何纷纷便宜到跟“老年代步车”抢市场呢？低价背后还有个秘密，是双积分制度。\n今年5月，工信息部发布《乘用车企业平均燃料消耗量与新能源汽车积分并行管理实施情况年度报告（2021）》。报告显示，2020年度，中国138家乘用车企业中，燃料消耗量负积分达666万，新能源正积分为328万分。这也就意味着，双积分仍存在338万分的缺口。\n稍微科普一下“双积分制度”：生产新能源车积正分，燃油车积负分，各类车积多少分有明确标准，以一年为限，车企的积分=平均燃油消耗量负积分+新能源汽车正积分。负积分可以与正积分之间进行交易，抵偿，转让等。\n根据规定，如果车企没有满足新能源的积分要求，将会受到暂停高油耗产品申报、暂停高油耗产品生产等处罚。不过，对于企业平均燃料消耗量负积分数量较大的车企来说，可以使用本企业结转的平均燃料消耗量正积分、使用本企业受让的平均燃料消耗量正积分、使用本企业产生的新能源汽车正积分，以及购买新能源汽车正积分这几种办法来抵偿负积分。\n\n简单来说，对于主要生产燃油车的企业，要么花钱买积分，要么多卖新能源汽车赚积分。\n不久前，有外媒报道，大众在中国的合资企业一汽-大众将从特斯拉购买新能源汽车积分，出价约为每个积分3000元人民币，远高于前几年的价格。\n兴业证券发布的研报显示，当前新能源积分交易价格已从最初的300元-500元/分，上涨至2500元-3000元/分，涨幅达9倍。全国工商联汽车经销商商会常务会长、新能源汽车专委会会长李金勇在采访中表示，今年的新能源积分将延续去年供不应求的局面，积分价格或将达到6000-10000元/分。\n另一种方式，就是多卖新能源汽车。比如上汽通用五菱2020年度，获得了44万新能源正积分，为上汽通用解决92万负积分提供了一定的保障。\n以长城汽车旗下欧拉品牌的欧拉黑猫为例，2021年，一辆欧拉黑猫可获取新能源正积分2.08分，每分价格计为6000元，电池成本可下降100元/千瓦时，磷酸铁锂成本的降幅更大，虽然补贴减少了，但总成本仍可降低1.24万元。也就是说，电池成本的降低足以抵消补贴减少对企业造车成本的不利影响。\n一位欧拉汽车的销售告诉虎嗅，在欧拉品牌的销量帮助下，去年长城汽车完成了双积分任务，也就意味着长城汽车不需要额外花钱购买新能源正积分。\n图片来源：《电动汽车观察家》\n再比如，长安汽车2020年的平均燃料消耗量负积分接近62万分，新能源正积分只有不到3万分，还需要60万分需要抵偿。同理，如果购买积分，每分3000元，需要花费18亿元。如果生产奔奔EV，每辆车的新能源正积分算作2分，则需生产30万辆即可。有内部人士透露，即便低价卖车亏钱，也比购买积分付出的性价比高，这是长安力推超低价奔奔E-Star的主要原因。\n写在最后\n一个更有趣的现象，正在发生。\n今年6月17日，工信部就《纯电动乘用车技术条件》这项推荐性国家标准征求意见。标准增加了针对微型低速纯电动乘用车的技术要求，这意味着，“老年代步车”有望从监管灰色地带纳入正规化管理。\n“我认为把低速电动车纳入规范化管理，事实上给予了规范企业一个上升的通道，同时淘汰不规范的企业，不过这一定程度上导致微型车企业面临尴尬的局面。”\n中国汽车流通协会汽车市场研究分会秘书长崔东树在采访中表示，微型车企业要在高成本与求生存之间进行选择，上去的话成本就高了，下去的话就没有活路了。\n接下来，很可能你会看到这样的市场情形——国产车企生产的微型纯电动汽车，和“老头乐”开始抢市场。","news_type":1,"symbols_score_info":{"000625":0.9,"00305":0.9}},"isVote":1,"tweetType":1,"viewCount":3607,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120945346,"gmtCreate":1624293839185,"gmtModify":1703832822807,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"htmlText":". 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","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120945346","repostId":"1131452883","repostType":4,"repost":{"id":"1131452883","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":1624290305,"share":"https://ttm.financial/m/news/1131452883?lang=en_US&edition=fundamental","pubTime":"2021-06-21 23:45","market":"us","language":"zh","title":"Spark Thinking Submits IPO Application in the United States, Revenue Grows 202.7% in the First Quarter","url":"https://stock-news.laohu8.com/highlight/detail?id=1131452883","media":"老虎资讯综合","summary":"据美国证券交易委员会文件：火花思维教育科技公司提交在美IPO申请，拟筹资达1亿美元，寻求在纳斯达克上市，股票代码为SPRK。\n招股书显示，火花思维2019年营收为1.95亿元，2020年营收为11.7","content":"<p>According to U.S. Securities and Exchange Commission filings: Spark Thinking Education Technology Company submitted an IPO application in the United States, intending to raise $100 million, and seeking to list on Nasdaq under the stock symbol SPRK.</p><p>According to the prospectus, the revenue of Spark Thinking in 2019 was 195 million yuan, and the revenue in 2020 was 1.174 billion yuan, a year-on-year increase of 502.1%; Spark Thinking had a net loss of 771 million yuan in 2019, 952 million yuan in 2020, and an accumulated loss of 1.723 billion yuan in the past two years.</p><p>In the first quarter ended March 31, the revenue of Spark Thinking was 454 million yuan, a year-on-year increase of 202.7%. In the first quarter, the net loss of Spark Thinking was 374 million yuan, an increase of 78.95% compared with the first quarter of 2020.</p><p>The loss was mainly attributable to the rapid growth in selling and marketing expenses. According to the prospectus, in 2019, the sales and marketing expenses, R&D expenses and general administrative expenses of Spark Thinking were 236 million yuan, 240 million yuan and 128 million yuan respectively; In 2020, these three expenditures were 798 million yuan, 327 million yuan and 178 million yuan, respectively.</p><p>In the first quarter of 2021, the sales and marketing expenses of Spark Thinking were 343 million yuan, representing a year-on-year increase of 203.5% over the first quarter of 2020. R&D investment was 144 million yuan, representing a year-on-year increase of 107.7% over the first quarter of 2020.</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>Spark Thinking Submits IPO Application in the United States, Revenue Grows 202.7% in the First Quarter</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\">\nSpark Thinking Submits IPO Application in the United States, Revenue Grows 202.7% in the First Quarter\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\">2021-06-21 23:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>According to U.S. Securities and Exchange Commission filings: Spark Thinking Education Technology Company submitted an IPO application in the United States, intending to raise $100 million, and seeking to list on Nasdaq under the stock symbol SPRK.</p><p>According to the prospectus, the revenue of Spark Thinking in 2019 was 195 million yuan, and the revenue in 2020 was 1.174 billion yuan, a year-on-year increase of 502.1%; Spark Thinking had a net loss of 771 million yuan in 2019, 952 million yuan in 2020, and an accumulated loss of 1.723 billion yuan in the past two years.</p><p>In the first quarter ended March 31, the revenue of Spark Thinking was 454 million yuan, a year-on-year increase of 202.7%. In the first quarter, the net loss of Spark Thinking was 374 million yuan, an increase of 78.95% compared with the first quarter of 2020.</p><p>The loss was mainly attributable to the rapid growth in selling and marketing expenses. According to the prospectus, in 2019, the sales and marketing expenses, R&D expenses and general administrative expenses of Spark Thinking were 236 million yuan, 240 million yuan and 128 million yuan respectively; In 2020, these three expenditures were 798 million yuan, 327 million yuan and 178 million yuan, respectively.</p><p>In the first quarter of 2021, the sales and marketing expenses of Spark Thinking were 343 million yuan, representing a year-on-year increase of 203.5% over the first quarter of 2020. R&D investment was 144 million yuan, representing a year-on-year increase of 107.7% over the first quarter of 2020.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7186383295e35dbeed76b7df4bae0d3b","relate_stocks":{".IXIC":"NASDAQ Composite"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131452883","content_text":"据美国证券交易委员会文件：火花思维教育科技公司提交在美IPO申请，拟筹资达1亿美元，寻求在纳斯达克上市，股票代码为SPRK。\n招股书显示，火花思维2019年营收为1.95亿元，2020年营收为11.74亿元，年比增幅为502.1%；火花思维在2019年的净亏损为7.71亿元，2020年净亏损9.52亿元，近两年累计亏损17.23亿元。\n截止3月31日的第一季度，火花思维营收为4.54亿元，同比增长202.7%。一季度，火花思维净亏损为3.74亿元，同比2020年第一季度扩大78.95%。\n亏损主要来自于销售及市场营销费用支出的快速增长。招股书显示，2019年火花思维的销售及市场营销费用、研发费用和一般行政管理支出费用分别是2.36亿元、2.4亿元及1.28亿元；2020年，这三项支出分别是7.98亿元、3.27亿元和1.78亿元。\n2021年第一季度，火花思维的销售及市场营销费用支出为3.43亿元，同比2020年第一季度增长203.5%。研发投入为1.44亿元，同比2020年第一季度增长107.7%。","news_type":1,"symbols_score_info":{".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164269653,"gmtCreate":1624208391772,"gmtModify":1703830682741,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"htmlText":"Ok//<a href=\"https://laohu8.com/U/4087128100298440\">@SIONGBENG</a>: Good","listText":"Ok//<a href=\"https://laohu8.com/U/4087128100298440\">@SIONGBENG</a>: Good","text":"Ok//@SIONGBENG: Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164269653","repostId":"1166679093","repostType":4,"repost":{"id":"1166679093","kind":"news","pubTimestamp":1624065234,"share":"https://ttm.financial/m/news/1166679093?lang=en_US&edition=fundamental","pubTime":"2021-06-19 09:13","market":"us","language":"en","title":"3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%","url":"https://stock-news.laohu8.com/highlight/detail?id=1166679093","media":"fool","summary":"Meme stocks have been all the rage so far this year. That's understandable, with several of them del","content":"<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.</p>\n<p>However, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.</p>\n<p>AMC Entertainment</p>\n<p><b>AMC Entertainment</b>(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.</p>\n<p>The consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.</p>\n<p>But isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.</p>\n<p>However, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.</p>\n<p>Clover Health Investments</p>\n<p>Only a few days ago, it looked like <b>Clover Health Investments</b>(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.</p>\n<p>Since the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.</p>\n<p>Clover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.</p>\n<p>Still, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.</p>\n<p>Sundial Growers</p>\n<p>At one point earlier this year, <b>Sundial Growers</b>(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.</p>\n<p>Analysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.</p>\n<p>There certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.</p>\n<p>Sundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.</p>\n<p>However, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the <b>Nasdaq</b> stock exchange.</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>3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-19 09:13 GMT+8 <a href=https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.\nHowever, what goes up can come down. ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CLOV":"Clover Health Corp","AMC":"AMC院线","SNDL":"SNDL Inc."},"source_url":"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166679093","content_text":"Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.\nHowever, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.\nAMC Entertainment\nAMC Entertainment(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.\nThe consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.\nBut isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.\nHowever, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.\nClover Health Investments\nOnly a few days ago, it looked like Clover Health Investments(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.\nSince the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.\nClover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.\nStill, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.\nSundial Growers\nAt one point earlier this year, Sundial Growers(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.\nAnalysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.\nThere certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.\nSundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.\nHowever, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the Nasdaq stock exchange.","news_type":1,"symbols_score_info":{"AMC":0.9,"CLOV":0.9,"SNDL":0.9}},"isVote":1,"tweetType":1,"viewCount":3334,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164269198,"gmtCreate":1624208377814,"gmtModify":1703830682902,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164269198","repostId":"1156696708","repostType":4,"isVote":1,"tweetType":1,"viewCount":3328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163221889,"gmtCreate":1623886756441,"gmtModify":1703822362665,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"htmlText":"Hi ","listText":"Hi ","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/163221889","repostId":"1199737134","repostType":4,"repost":{"id":"1199737134","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623885157,"share":"https://ttm.financial/m/news/1199737134?lang=en_US&edition=fundamental","pubTime":"2021-06-17 07:12","market":"us","language":"en","title":"Musk-Touted CureVac Loses 49% of Value After Vaccine Setback","url":"https://stock-news.laohu8.com/highlight/detail?id=1199737134","media":"Tiger Newspress","summary":"Company plunges After Covid Shot Falls Short With 47% Efficacy\nEffectiveness is far below that seen ","content":"<ul>\n <li>Company plunges After Covid Shot Falls Short With 47% Efficacy</li>\n <li>Effectiveness is far below that seen with other mRNA vaccines</li>\n</ul>\n<p>CureVac NV shares plunged after a preliminary analysis of a large study muddied by the spread of virus variants found its Covid-19 vaccine was 47% effective, well short of the high bar set by other messenger RNA shots.</p>\n<p>The interim analysis of data from about 40,000 volunteers included 134 Covid cases, the German company said in a statement. CureVac declined to say how many who got the shot got sick or how many received a placebo. But the results suggest the vaccine works less well for older people than in a younger population, Chief Technology Officer Mariola Fotin-Mleczek said in an interview Wednesday.</p>\n<p>Though preliminary, the results throw the future of the vaccine into question as wealthy nations around the world move swiftly to inoculate their populations with shots already available. Still, CureVac will finish its trial and plans to gain approval, Chief Executive Officer Franz-Werner Haas said.</p>\n<p>“There is a huge need for vaccine, and I think we can still make a contribution,” Haas said.</p>\n<p>The company’s shares fell more than 49% in post-market trading after being up 17% this year through Wednesday’s close.</p>\n<p><img src=\"https://static.tigerbbs.com/d6ec3f2e05cfbc6c7d87c3fa174f459c\" tg-width=\"1302\" tg-height=\"663\"></p>\n<p>In April, Elon Musk tweeted about CureVac, which Tesla Inc. has partnered with on a vaccine printer,saying it “sounds like they’re a few months away from regulatory approval.” He added that “a tidal wave of vaccine is coming this summer.” He later deleted the tweet.</p>\n<p>The shot could be a boost in the developing world, since it doesn’t require the deep freezing needed for other Covid shots. Partly owned by the German government, CureVac has forged partnerships with Bayer AG,GlaxoSmithKline Plc and the U.K. government aimed at speeding production of its shot and future versions that will target mutated strains.</p>\n<p>The data comes as the world is at something of a crossroads in the Covid fight, with global infections falling even as outbreaks in places with less access to vaccines serve as a reminder that the pandemic is far from over. The wealthiest countries have taken an outsize share of the more than 2.4 billion shots administered so far.</p>\n<p>The proliferation of variants in the CureVac trial is testimony to how the pandemic has changed since the first large vaccine clinical trials were run last year.</p>\n<p><b>Genetic Sequencing</b></p>\n<p>CureVac’s researchers genetically sequenced 124 of the 134 cases they included in their analysis. Just one of the sequenced cases was due to the original SARS-CoV-2 virus first identified in Wuhan, China. The rest came from a range of variants, including 21% of cases attributable to a new variant called lambda that was first identified in Peru.</p>\n<p>TheWorld Health Organization added lambda to its watchlist as a variant of interest on Monday.</p>\n<p>Some 57% of the Covid cases in the study were due to so-called variants of concern, the four variants that the World Health Organization has deemed the most worrying. Most of these -- about 41% of all the cases -- were due to the alpha variant first observed in the U.K., CureVac said.</p>\n<p>That variant is now the most common in the U.S., and other vaccines, including shots from Pfizer Inc. and BioNTech SE as well as Novavax Inc., have shown themselves effective against it. CureVac didn’t release detailed data about how its shot performed against each of the variants.</p>\n<p><b>Final Readout</b></p>\n<p>More details will emerge in the final readout of the study, which will include more than 200 Covid cases and could come within two or three weeks, CureVac said.</p>\n<p>Like the shots from Moderna Inc. and the Pfizer-BioNtech alliance, CureVac’s vaccine relies on mRNA, enlisting the body’s own cells as vaccine factories. Unproven until last year, the technology has now catapulted to the forefront of the global fight against Covid.</p>\n<p>CureVac’s shot, though, is subtly different than its competitors, because it uses an unmodified form of mRNA.</p>\n<p>CureVac has said it plans to supply 300 million vaccine doses this year, enough to immunize 150 million people. Together with partners, it has said it will supply more than 1 billion doses in 2022.</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>Musk-Touted CureVac Loses 49% of Value After Vaccine Setback</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nMusk-Touted CureVac Loses 49% of Value After Vaccine Setback\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\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\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-17 07:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Company plunges After Covid Shot Falls Short With 47% Efficacy</li>\n <li>Effectiveness is far below that seen with other mRNA vaccines</li>\n</ul>\n<p>CureVac NV shares plunged after a preliminary analysis of a large study muddied by the spread of virus variants found its Covid-19 vaccine was 47% effective, well short of the high bar set by other messenger RNA shots.</p>\n<p>The interim analysis of data from about 40,000 volunteers included 134 Covid cases, the German company said in a statement. CureVac declined to say how many who got the shot got sick or how many received a placebo. But the results suggest the vaccine works less well for older people than in a younger population, Chief Technology Officer Mariola Fotin-Mleczek said in an interview Wednesday.</p>\n<p>Though preliminary, the results throw the future of the vaccine into question as wealthy nations around the world move swiftly to inoculate their populations with shots already available. Still, CureVac will finish its trial and plans to gain approval, Chief Executive Officer Franz-Werner Haas said.</p>\n<p>“There is a huge need for vaccine, and I think we can still make a contribution,” Haas said.</p>\n<p>The company’s shares fell more than 49% in post-market trading after being up 17% this year through Wednesday’s close.</p>\n<p><img src=\"https://static.tigerbbs.com/d6ec3f2e05cfbc6c7d87c3fa174f459c\" tg-width=\"1302\" tg-height=\"663\"></p>\n<p>In April, Elon Musk tweeted about CureVac, which Tesla Inc. has partnered with on a vaccine printer,saying it “sounds like they’re a few months away from regulatory approval.” He added that “a tidal wave of vaccine is coming this summer.” He later deleted the tweet.</p>\n<p>The shot could be a boost in the developing world, since it doesn’t require the deep freezing needed for other Covid shots. Partly owned by the German government, CureVac has forged partnerships with Bayer AG,GlaxoSmithKline Plc and the U.K. government aimed at speeding production of its shot and future versions that will target mutated strains.</p>\n<p>The data comes as the world is at something of a crossroads in the Covid fight, with global infections falling even as outbreaks in places with less access to vaccines serve as a reminder that the pandemic is far from over. The wealthiest countries have taken an outsize share of the more than 2.4 billion shots administered so far.</p>\n<p>The proliferation of variants in the CureVac trial is testimony to how the pandemic has changed since the first large vaccine clinical trials were run last year.</p>\n<p><b>Genetic Sequencing</b></p>\n<p>CureVac’s researchers genetically sequenced 124 of the 134 cases they included in their analysis. Just one of the sequenced cases was due to the original SARS-CoV-2 virus first identified in Wuhan, China. The rest came from a range of variants, including 21% of cases attributable to a new variant called lambda that was first identified in Peru.</p>\n<p>TheWorld Health Organization added lambda to its watchlist as a variant of interest on Monday.</p>\n<p>Some 57% of the Covid cases in the study were due to so-called variants of concern, the four variants that the World Health Organization has deemed the most worrying. Most of these -- about 41% of all the cases -- were due to the alpha variant first observed in the U.K., CureVac said.</p>\n<p>That variant is now the most common in the U.S., and other vaccines, including shots from Pfizer Inc. and BioNTech SE as well as Novavax Inc., have shown themselves effective against it. CureVac didn’t release detailed data about how its shot performed against each of the variants.</p>\n<p><b>Final Readout</b></p>\n<p>More details will emerge in the final readout of the study, which will include more than 200 Covid cases and could come within two or three weeks, CureVac said.</p>\n<p>Like the shots from Moderna Inc. and the Pfizer-BioNtech alliance, CureVac’s vaccine relies on mRNA, enlisting the body’s own cells as vaccine factories. Unproven until last year, the technology has now catapulted to the forefront of the global fight against Covid.</p>\n<p>CureVac’s shot, though, is subtly different than its competitors, because it uses an unmodified form of mRNA.</p>\n<p>CureVac has said it plans to supply 300 million vaccine doses this year, enough to immunize 150 million people. Together with partners, it has said it will supply more than 1 billion doses in 2022.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CVAC":"CureVac B.V."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199737134","content_text":"Company plunges After Covid Shot Falls Short With 47% Efficacy\nEffectiveness is far below that seen with other mRNA vaccines\n\nCureVac NV shares plunged after a preliminary analysis of a large study muddied by the spread of virus variants found its Covid-19 vaccine was 47% effective, well short of the high bar set by other messenger RNA shots.\nThe interim analysis of data from about 40,000 volunteers included 134 Covid cases, the German company said in a statement. CureVac declined to say how many who got the shot got sick or how many received a placebo. But the results suggest the vaccine works less well for older people than in a younger population, Chief Technology Officer Mariola Fotin-Mleczek said in an interview Wednesday.\nThough preliminary, the results throw the future of the vaccine into question as wealthy nations around the world move swiftly to inoculate their populations with shots already available. Still, CureVac will finish its trial and plans to gain approval, Chief Executive Officer Franz-Werner Haas said.\n“There is a huge need for vaccine, and I think we can still make a contribution,” Haas said.\nThe company’s shares fell more than 49% in post-market trading after being up 17% this year through Wednesday’s close.\n\nIn April, Elon Musk tweeted about CureVac, which Tesla Inc. has partnered with on a vaccine printer,saying it “sounds like they’re a few months away from regulatory approval.” He added that “a tidal wave of vaccine is coming this summer.” He later deleted the tweet.\nThe shot could be a boost in the developing world, since it doesn’t require the deep freezing needed for other Covid shots. Partly owned by the German government, CureVac has forged partnerships with Bayer AG,GlaxoSmithKline Plc and the U.K. government aimed at speeding production of its shot and future versions that will target mutated strains.\nThe data comes as the world is at something of a crossroads in the Covid fight, with global infections falling even as outbreaks in places with less access to vaccines serve as a reminder that the pandemic is far from over. The wealthiest countries have taken an outsize share of the more than 2.4 billion shots administered so far.\nThe proliferation of variants in the CureVac trial is testimony to how the pandemic has changed since the first large vaccine clinical trials were run last year.\nGenetic Sequencing\nCureVac’s researchers genetically sequenced 124 of the 134 cases they included in their analysis. Just one of the sequenced cases was due to the original SARS-CoV-2 virus first identified in Wuhan, China. The rest came from a range of variants, including 21% of cases attributable to a new variant called lambda that was first identified in Peru.\nTheWorld Health Organization added lambda to its watchlist as a variant of interest on Monday.\nSome 57% of the Covid cases in the study were due to so-called variants of concern, the four variants that the World Health Organization has deemed the most worrying. Most of these -- about 41% of all the cases -- were due to the alpha variant first observed in the U.K., CureVac said.\nThat variant is now the most common in the U.S., and other vaccines, including shots from Pfizer Inc. and BioNTech SE as well as Novavax Inc., have shown themselves effective against it. CureVac didn’t release detailed data about how its shot performed against each of the variants.\nFinal Readout\nMore details will emerge in the final readout of the study, which will include more than 200 Covid cases and could come within two or three weeks, CureVac said.\nLike the shots from Moderna Inc. and the Pfizer-BioNtech alliance, CureVac’s vaccine relies on mRNA, enlisting the body’s own cells as vaccine factories. Unproven until last year, the technology has now catapulted to the forefront of the global fight against Covid.\nCureVac’s shot, though, is subtly different than its competitors, because it uses an unmodified form of mRNA.\nCureVac has said it plans to supply 300 million vaccine doses this year, enough to immunize 150 million people. Together with partners, it has said it will supply more than 1 billion doses in 2022.","news_type":1,"symbols_score_info":{"CVAC":0.9}},"isVote":1,"tweetType":1,"viewCount":4077,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}