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劉洧綸
劉洧綸
·
2022-06-14
👍🏻
How tight are the markets? Someone shouted the Fed's rate hike 100 basis points
继巴克莱和Jefferies预计美联储在本周三加息75个基点引起轰动后，渣打银行语出惊人：虽然预计美联储6月会议上仍将加息50个基点，但指出并不排除加息 75个基点甚至100个基点。
How tight are the markets? Someone shouted the Fed's rate hike 100 basis points
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劉洧綸
劉洧綸
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2022-05-30
👍🏻
Co-Founder Fred Ehrsam Just Bought $1.8 Million in Coinbase (COIN) Stock
Coinbase(NASDAQ:COIN) co-founder Fred Ehrsam purchased 30,030 shares of COIN stock on May 24The shar
Co-Founder Fred Ehrsam Just Bought $1.8 Million in Coinbase (COIN) Stock
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劉洧綸
劉洧綸
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2022-05-25
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劉洧綸
劉洧綸
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2022-02-16
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劉洧綸
劉洧綸
·
2021-08-05
??
An intraday change in education technology rose sharply by 5.09% in early trading
北京时间2021年08月04日22时23分，一起教育科技股票出现异动，股价大幅拉升5.09%。截至发稿，该股报1.20美元/股，成交量87.7922万股，换手率0.46%，振幅5.26%。机构评级方面，在所有2家参与评级的机构中，100%的券商给予卖出建议，无券商给予买入、持有建议。一起教育科技股票所在的教育服务行业中，整体跌幅为0.33%。
An intraday change in education technology rose sharply by 5.09% in early trading
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劉洧綸
劉洧綸
·
2021-07-28
wow
Still the same smell! BlackBerry 2021 new mobile phone renderings exposed
黑莓几经易主，如今已经找到了新东家。而即将推出新手机的消息也不胫而走。不过，时至今日，黑莓的新品依然没有推出，不过在近日，外媒Letsgodigital就制作出了黑莓2021新品的外观图，依然实体的全键盘，以及方正的造型。不得不说，那个味真冲。对于黑莓这款手机的外观，你怎么看？
Still the same smell! BlackBerry 2021 new mobile phone renderings exposed
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劉洧綸
劉洧綸
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2021-07-25
?
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劉洧綸
劉洧綸
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2021-07-23
???
Louis Vuitton announces termination of partnership with Wu Yifan
@路易威登 微博7月23日发布声明称，鉴于相关通报，路易威登宣布终止与吴亦凡先生之合作关系。至此，吴亦凡所有的商务代言品牌均已发布声明终止与其合作关系。
Louis Vuitton announces termination of partnership with Wu Yifan
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劉洧綸
劉洧綸
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2021-07-22
???
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劉洧綸
劉洧綸
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2021-07-08
???
Burning money is too crazy? Building cars scare off investors
投资人为什么怕了？
Burning money is too crazy? Building cars scare off investors
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Someone shouted the Fed's rate hike 100 basis points","url":"https://stock-news.laohu8.com/highlight/detail?id=2243662491","media":"华尔街见闻","summary":"继巴克莱和Jefferies预计美联储在本周三加息75个基点引起轰动后，渣打银行语出惊人：虽然预计美联储6月会议上仍将加息50个基点，但指出并不排除加息 75个基点甚至100个基点。","content":"<p><html><head></head><body>Last Friday, the U.S. CPI rose 8.6% year-on-year in May, setting a new 40-year high again, making inflation peak bankrupt. This has allowed the market to re-expect and price the pace of the Fed's rate hike. After Barclays and Jefferies expected the Fed to cause a sensation with a 75 basis point rate hike on Wednesday, Steven Englander, head of global foreign exchange research and North American macro strategy at Standard Chartered Bank, was even more surprising: Although his team expects the Fed to still be at its June meeting rate hike will be 50 basis points, but he noted that 75 basis points or even 100 basis points in rate hike will not be ruled out.</p><p><b>The reason why Standard Chartered Bank gave a 75 basis point or even 100 basis point rate hike is that neither inflation nor the U.S. economy has sent a clear enough slowdown signal to prevent the Fed from rate hike at the next few meetings. 50 basis points or more.</b></p><p><b>However, Standard Chartered Bank pointed out that the Fed doesn't like to surprise the market, and the shocking decline in U.S. consumer confidence suggests that a recession is imminent, so the June rate hike of 50 basis points remains their benchmark forecast.</b></p><p>According to Standard Chartered's latest forecast, it expects the Federal Reserve's rate hike of 50 basis points in July (previously expected to be 25 basis points); September rate hike 50 basis points (previously expected to be zero); It was originally expected that the rate hike in December 2022 would be 25 basis points, but now it is believed that this rate hike will be advanced to November; Rate hike was originally expected to be 25 basis points in the second quarter of 2023, but now it is believed that there will be no rate hike. With these revisions, Standard Chartered expects the Fed's ultimate rate hike point to be 2.75%, compared with its previous forecast of 2.25%.</p><p>Looking at Monday's market expectations, the market expects a 44% chance of a 75 basis point rate hike this Wednesday, while it expects more than 7 rate hike on a 25 basis point basis by September, that is, In the next three months, the market expects at least one 75 basis point rate hike.</p><p>What does this mean for markets this week? Englander pointed out that with futures markets priced at about 60 basis points, the first reaction to rate hike of 50 basis points this week will be a weaker dollar and a rise in bond markets, but whether this situation continues will depend on subsequent rate hike messages. Currently, investors are long dollars and short bonds, so there are certain problems in the short term; However, if Fed Chairman Jerome Powell sticks to his hawkish stance, investors may quickly reverse the short-term trend.</p><p>Conversely, if the Fed rate hike is 75 basis points this Wednesday, while hinting at a subsequent rate hike pace that will be reduced to 25 basis points, then 75 basis points on rate hike will be meaningless. Therefore, Standard Chartered believes that rate hike's 75 basis points seems likely to be accompanied by a hawkish stance, pointing out that rate hike's 50 basis points or more at subsequent meetings. For the possible scenario of 100 basis points, this may come from the Fed's belief that a \"Volcker moment\" is needed, but Fed officials are not expected to see themselves as far as this, so it is not expected that such aggressive moves are necessary.</p><p>Standard Chartered pointed out,<b>Another important reason why the Fed is unlikely to rate hike 75 basis points or more on Wednesday is the need for quantitative tightening (QT).</b>The Fed will be cautious in indicating a change in the pace of quantitative tightening. The Fed seems to have a strong underlying will to avoid two tightening tracks (rate hike + QT), so it is likely to send a message of stability.</p><p></body></html></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How tight are the markets? 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Someone shouted the Fed's rate hike 100 basis points\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\">2022-06-14 08:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Last Friday, the U.S. CPI rose 8.6% year-on-year in May, setting a new 40-year high again, making inflation peak bankrupt. This has allowed the market to re-expect and price the pace of the Fed's rate hike. After Barclays and Jefferies expected the Fed to cause a sensation with a 75 basis point rate hike on Wednesday, Steven Englander, head of global foreign exchange research and North American macro strategy at Standard Chartered Bank, was even more surprising: Although his team expects the Fed to still be at its June meeting rate hike will be 50 basis points, but he noted that 75 basis points or even 100 basis points in rate hike will not be ruled out.</p><p><b>The reason why Standard Chartered Bank gave a 75 basis point or even 100 basis point rate hike is that neither inflation nor the U.S. economy has sent a clear enough slowdown signal to prevent the Fed from rate hike at the next few meetings. 50 basis points or more.</b></p><p><b>However, Standard Chartered Bank pointed out that the Fed doesn't like to surprise the market, and the shocking decline in U.S. consumer confidence suggests that a recession is imminent, so the June rate hike of 50 basis points remains their benchmark forecast.</b></p><p>According to Standard Chartered's latest forecast, it expects the Federal Reserve's rate hike of 50 basis points in July (previously expected to be 25 basis points); September rate hike 50 basis points (previously expected to be zero); It was originally expected that the rate hike in December 2022 would be 25 basis points, but now it is believed that this rate hike will be advanced to November; Rate hike was originally expected to be 25 basis points in the second quarter of 2023, but now it is believed that there will be no rate hike. With these revisions, Standard Chartered expects the Fed's ultimate rate hike point to be 2.75%, compared with its previous forecast of 2.25%.</p><p>Looking at Monday's market expectations, the market expects a 44% chance of a 75 basis point rate hike this Wednesday, while it expects more than 7 rate hike on a 25 basis point basis by September, that is, In the next three months, the market expects at least one 75 basis point rate hike.</p><p>What does this mean for markets this week? Englander pointed out that with futures markets priced at about 60 basis points, the first reaction to rate hike of 50 basis points this week will be a weaker dollar and a rise in bond markets, but whether this situation continues will depend on subsequent rate hike messages. Currently, investors are long dollars and short bonds, so there are certain problems in the short term; However, if Fed Chairman Jerome Powell sticks to his hawkish stance, investors may quickly reverse the short-term trend.</p><p>Conversely, if the Fed rate hike is 75 basis points this Wednesday, while hinting at a subsequent rate hike pace that will be reduced to 25 basis points, then 75 basis points on rate hike will be meaningless. Therefore, Standard Chartered believes that rate hike's 75 basis points seems likely to be accompanied by a hawkish stance, pointing out that rate hike's 50 basis points or more at subsequent meetings. For the possible scenario of 100 basis points, this may come from the Fed's belief that a \"Volcker moment\" is needed, but Fed officials are not expected to see themselves as far as this, so it is not expected that such aggressive moves are necessary.</p><p>Standard Chartered pointed out,<b>Another important reason why the Fed is unlikely to rate hike 75 basis points or more on Wednesday is the need for quantitative tightening (QT).</b>The Fed will be cautious in indicating a change in the pace of quantitative tightening. The Fed seems to have a strong underlying will to avoid two tightening tracks (rate hike + QT), so it is likely to send a message of stability.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3661859\">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/50f0a252f951b7accc03d40bda92a3b2","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF","BK4581":"高盛持仓","SDOW":"三倍做空道指30ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SPY":"标普500ETF",".SPX":"S&P 500 Index","BK4534":"瑞士信贷持仓","SDS":"两倍做空标普500 ETF-ProShares","QID":"两倍做空纳斯达克指数ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","OEF":"标普100指数ETF-iShares","DJX":"1/100道琼斯","DDM":"2倍做多道指ETF-ProShares","BK4559":"巴菲特持仓","BK4504":"桥水持仓","DOG":"道指ETF-ProShares做空","SQQQ":"纳指三倍做空ETF","UDOW":"三倍做多道指30ETF-ProShares","BK4550":"红杉资本持仓","OEX":"标普100","IVV":"标普500ETF-iShares","UPRO":"三倍做多标普500ETF-ProShares",".DJI":"道琼斯","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF","SH":"做空标普500-Proshares","SPXU":"三倍做空标普500ETF-ProShares",".IXIC":"NASDAQ Composite"},"source_url":"https://wallstreetcn.com/articles/3661859","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2243662491","content_text":"上周五美国5月CPI同比上升8.6%，再次刷新40年新高，令通胀见顶论破产。这让市场对美联储加息步伐进行了重新预期和定价。继巴克莱和Jefferies预计美联储在本周三加息75个基点引起轰动后，渣打银行全球外汇研究和北美宏观策略负责人Steven Englander更加语出惊人：虽然他的团队预计美联储6月会议上仍将加息50个基点，但他指出，并不排除加息 75个基点甚至100个基点。之所以给出75个基点甚至100个基点加息，渣打银行的理由是，无论是通胀还是美国经济，都没有发出足够明确的放缓信号，来阻止美联储在接下来的几次会议上加息50个基点或更多。不过渣打银行指出，美联储不喜欢给市场意外，而且美国消费者信心的下降令人震惊，暗示经济衰退迫在眉睫，因此6月加息50个基点仍然是他们的基准预测。根据渣打银行的最新预测，其预计美联储7月份加息50个基点（之前预计为25个基点）；9月份加息50个基点（之前预计为零）；原本预计2022年12月加息25个基点，现在认为这一加息会提前到11月；原本预计2023年二季度加息25 个基点，现在认为不会加息。经过这些修改，渣打银行预计美联储的终极加息点位为2.75%，此前的预测为2.25%。从周一的市场预期来看，市场预计本周三加息75个基点的可能性为44%，而预计到9月时，按25个基点为单位，有7次以上的加息，也就是说，在接下来的三个月里，市场预计至少有一次75个基点的加息。这对本周市场意味着什么？Englander指出，在期货市场定价为约60个基点的情况下，对本周加息50个基点的第一反应将是美元走软和债市上涨，但这种情况是否持续将取决于随后传递的加息信息。当前投资者做多美元，做空债券，因此短期内存在一定的问题；然而，如果美联储主席鲍威尔坚持鹰派立场，投资者们可能会迅速扭转短期走势。相反，如果本周三美联储加息75个基点，同时暗示随后的加息步伐将下调至25个基点，那么加息75个基点将毫无意义。因此渣打认为，加息75个基点似乎可能伴随着鹰派表态，指出在随后的会议上加息50个基点或更多。对于100个基点的可能情况，这也许来自美联储认为需要“沃尔克时刻”，但预计美联储官员们还没有认为自己走到这一步，故预计没有必要采取如此激进的举措。渣打指出，美联储不太可能在周三加息75个基点甚至更多的另外重要原因是：需要量化紧缩（QT）。美联储将谨慎地表明量化紧缩步伐的变化。美联储似乎有强烈的潜在意愿，避免出现两条紧缩轨道（加息+QT），因此很可能传递稳定的信息。","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"SDS":0.6,"SDOW":0.6,"MNQmain":0.6,"IVV":0.6,"QQQ":0.6,"UDOW":0.6,"UPRO":0.6,"QID":0.6,"DJX":0.6,"SQQQ":0.6,"SPY":1,"ESmain":0.6,"OEF":0.6,"DXD":0.6,"NQmain":0.6,"TQQQ":0.6,"SPXU":0.6,"QLD":0.6,".DJI":1,".IXIC":1,"DDM":0.6,"OEX":0.6,".SPX":0.6,"DOG":0.6,"PSQ":0.6,"SH":0.6,"SSO":0.6}},"isVote":1,"tweetType":1,"viewCount":1761,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9024656479,"gmtCreate":1653869656491,"gmtModify":1676535353285,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"劉洧綸","avatar":"https://community-static.tradeup.com/news/ac36586443a36b162393703e2f3db72a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578562412522571","idStr":"3578562412522571"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9024656479","repostId":"1190992024","repostType":4,"repost":{"id":"1190992024","kind":"news","pubTimestamp":1653866406,"share":"https://ttm.financial/m/news/1190992024?lang=en_US&edition=fundamental","pubTime":"2022-05-30 07:20","market":"us","language":"en","title":"Co-Founder Fred Ehrsam Just Bought $1.8 Million in Coinbase (COIN) Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1190992024","media":"InvestorPlace","summary":"Coinbase(NASDAQ:COIN) co-founder Fred Ehrsam purchased 30,030 shares of COIN stock on May 24The shar","content":"<div>\n<p>Coinbase(NASDAQ:COIN) co-founder Fred Ehrsam purchased 30,030 shares of COIN stock on May 24The shares were purchased at an average price of $60.60Ehrsam purchased the shares through ParadigmShares of...</p>\n\n<a href=\"https://investorplace.com/2022/05/co-founder-fred-ehrsam-just-bought-1-8-million-in-coinbase-coin-stock/\">Source Link</a>\n\n</div>\n","source":"lsy1606302653667","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>Co-Founder Fred Ehrsam Just Bought $1.8 Million in Coinbase (COIN) Stock</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nCo-Founder Fred Ehrsam Just Bought $1.8 Million in Coinbase (COIN) Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-30 07:20 GMT+8 <a href=https://investorplace.com/2022/05/co-founder-fred-ehrsam-just-bought-1-8-million-in-coinbase-coin-stock/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coinbase(NASDAQ:COIN) co-founder Fred Ehrsam purchased 30,030 shares of COIN stock on May 24The shares were purchased at an average price of $60.60Ehrsam purchased the shares through ParadigmShares of...</p>\n\n<a href=\"https://investorplace.com/2022/05/co-founder-fred-ehrsam-just-bought-1-8-million-in-coinbase-coin-stock/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://investorplace.com/2022/05/co-founder-fred-ehrsam-just-bought-1-8-million-in-coinbase-coin-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190992024","content_text":"Coinbase(NASDAQ:COIN) co-founder Fred Ehrsam purchased 30,030 shares of COIN stock on May 24The shares were purchased at an average price of $60.60Ehrsam purchased the shares through ParadigmShares of Coinbase stock are in the spotlight today following another insider purchase from co-founder Fred Ehrsam. This is Ehrsam’sthird insider purchase of the crypto exchange this month. In fact, no Coinbase insider has purchased shares of COIN stock this year on the open market besides Ehrsam.Ehrsam helped found Coinbase alongside current CEO Brian Armstrong. Eventually, he also moved away from the company and helped found Paradigm, an investment firm that focuses on cryptocurrency and Web 3.0 opportunities.Let’s get into the details of Ehrsam’s purchase.Co-founder and Director Fred Ehrsam Buys COIN StockOn May 24, Fred Ehrsam purchased 30,030 shares at an average price of $60.60 per share. In total, the purchase amounted to just over $1.8 million. Ehrsam indirectly purchased all of these shares through the Paradigm One Fund. After the purchase, Ehrsam indirectly owns 1.12 million shares through the fund. He also owns another 1.13 million shares through the Frederick Ernest Ehrsam III Living Trust and 1,213 shares directly. Finally, Ehrsam owns an additional 2.58 million shares through the Paradigm Fund.Earlier, on May 17, Ehrsam purchased385,260 shares through the Paradigm One Fund at average prices ranging between $63.92 and $66.52. The purchase amounted to a massive $25 million. However, Ehrsam made an even bigger purchase on May 13, purchasing706,554 shares at average prices ranging between $69.53 and $72.85. That purchase amounted to a whopping $50 million.Ehrsam seems to be buying back shares at a discount after selling out shares following the company’s initial public offering (IPO). One article from The Wall Street Journal details how four Coinbase insiders sold $1.2 billion of COIN following the company’s IPO. These four insiders are co-founders Fred Ehrsam and Brian Armstrong as well as COO Emilie Choi and CPO Surojit Chatterjee. At its initial public offering, COIN stock initiated trading at $381. The four insiders sold shares at prices between $189 and $422. Today, the stock is trading in the low $70 range.Armstrong sold shares worth $292 million through both himself and his trust. On top of that, Ehrsam sold nearly $500 million of COIN. Meanwhile, Choi “exercised options at a cost of $9.7 million […] while Chatterjee exercised options at a cost of $6 million.” Choi and Chatterjee also sold shares worth $226 million and $110 million, respectively.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":2424,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9026758806,"gmtCreate":1653437428405,"gmtModify":1676535281445,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"劉洧綸","avatar":"https://community-static.tradeup.com/news/ac36586443a36b162393703e2f3db72a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578562412522571","idStr":"3578562412522571"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9026758806","repostId":"1154327965","repostType":4,"isVote":1,"tweetType":1,"viewCount":3054,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9095438497,"gmtCreate":1644971298275,"gmtModify":1676533981259,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"劉洧綸","avatar":"https://community-static.tradeup.com/news/ac36586443a36b162393703e2f3db72a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578562412522571","idStr":"3578562412522571"},"themes":[],"htmlText":"😎","listText":"😎","text":"😎","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9095438497","repostId":"1149078738","repostType":4,"isVote":1,"tweetType":1,"viewCount":3213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890451164,"gmtCreate":1628129594258,"gmtModify":1703501772533,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"劉洧綸","avatar":"https://community-static.tradeup.com/news/ac36586443a36b162393703e2f3db72a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578562412522571","idStr":"3578562412522571"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/890451164","repostId":"2157835104","repostType":2,"repost":{"id":"2157835104","kind":"news","pubTimestamp":1628087020,"share":"https://ttm.financial/m/news/2157835104?lang=en_US&edition=fundamental","pubTime":"2021-08-04 22:23","market":"us","language":"zh","title":"An intraday change in education technology rose sharply by 5.09% in early trading","url":"https://stock-news.laohu8.com/highlight/detail?id=2157835104","media":"自选股智能写手","summary":"北京时间2021年08月04日22时23分，一起教育科技股票出现异动，股价大幅拉升5.09%。截至发稿，该股报1.20美元/股，成交量87.7922万股，换手率0.46%，振幅5.26%。机构评级方面，在所有2家参与评级的机构中，100%的券商给予卖出建议，无券商给予买入、持有建议。一起教育科技股票所在的教育服务行业中，整体跌幅为0.33%。","content":"<p><html><body><article>At 22:23 on August 4, 2021, Beijing time,<a href=\"https://laohu8.com/S/YQ\">Educational Technology Together</a>(YQ.us) stock changes, stock price is sharp<span>Pull up</span>5.09%。 As of press time, the stock was quoted at US $1.20 per share, with a turnover of 877,922 shares.<span>Turnover rate</span>0.46%, with an amplitude of 5.26%.</p><p>Recent financial report data shows that the stock has achieved<span>Operating income</span>$73.19 million,<span>Net profit</span>-$102 million,<span>EARNINGS PER</span>-$0.21,<span>GROSS PROFIT</span>US $44.24 million, P/E-0.33 times.</p><p>In terms of institutional ratings, among all two institutions participating in the rating, 100% of securities firms gave selling suggestions, and no securities firms gave buying or holding suggestions.</p><p>In the educational services industry where educational technology stocks are located, the overall decline was 0.33%. Among its related stocks, Midland International Education Group,<a href=\"https://laohu8.com/S/REDU\">Ruisi Education</a>、<a href=\"https://laohu8.com/S/NEW\">Park Xin Education</a>The increase is relatively large. Midland International Education Group, Puxin Education, and Wuyou English are relatively active, with turnover rates of 9.49%, 4.66%, and 1.98% respectively. Related stocks with larger amplitudes include<a href=\"https://laohu8.com/S/STG\">Suntech Agency</a>, Park New Education,<a href=\"https://laohu8.com/S/METXW\">Meten Edtechx Education Group Ltd</a>C/Wts 31/03/2025 (To Pur Com), The amplitudes were 27.34%, 26.38%, and 25.40%, respectively.</p><p>Together EdTech Company About: Together EdTech Group Inc. is an online tutoring company. It is an educational technology company that provides data-driven teaching, learning, and assessment products to teachers, students, and parents in schools K-12 and above.</p><p>(The above contents are self-selected shares<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>The machine writer Money Call is completed and is only used as a reference for users to read the market, not as a basis for transactions.)</p><p></article></body></html></p>","source":"tencent","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>An intraday change in education technology rose sharply by 5.09% in early trading</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\">\nAn intraday change in education technology rose sharply by 5.09% in early trading\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">自选股智能写手</strong><span class=\"h-time small\">2021-08-04 22:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><article>At 22:23 on August 4, 2021, Beijing time,<a href=\"https://laohu8.com/S/YQ\">Educational Technology Together</a>(YQ.us) stock changes, stock price is sharp<span>Pull up</span>5.09%。 As of press time, the stock was quoted at US $1.20 per share, with a turnover of 877,922 shares.<span>Turnover rate</span>0.46%, with an amplitude of 5.26%.</p><p>Recent financial report data shows that the stock has achieved<span>Operating income</span>$73.19 million,<span>Net profit</span>-$102 million,<span>EARNINGS PER</span>-$0.21,<span>GROSS PROFIT</span>US $44.24 million, P/E-0.33 times.</p><p>In terms of institutional ratings, among all two institutions participating in the rating, 100% of securities firms gave selling suggestions, and no securities firms gave buying or holding suggestions.</p><p>In the educational services industry where educational technology stocks are located, the overall decline was 0.33%. Among its related stocks, Midland International Education Group,<a href=\"https://laohu8.com/S/REDU\">Ruisi Education</a>、<a href=\"https://laohu8.com/S/NEW\">Park Xin Education</a>The increase is relatively large. Midland International Education Group, Puxin Education, and Wuyou English are relatively active, with turnover rates of 9.49%, 4.66%, and 1.98% respectively. Related stocks with larger amplitudes include<a href=\"https://laohu8.com/S/STG\">Suntech Agency</a>, Park New Education,<a href=\"https://laohu8.com/S/METXW\">Meten Edtechx Education Group Ltd</a>C/Wts 31/03/2025 (To Pur Com), The amplitudes were 27.34%, 26.38%, and 25.40%, respectively.</p><p>Together EdTech Company About: Together EdTech Group Inc. is an online tutoring company. It is an educational technology company that provides data-driven teaching, learning, and assessment products to teachers, students, and parents in schools K-12 and above.</p><p>(The above contents are self-selected shares<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>The machine writer Money Call is completed and is only used as a reference for users to read the market, not as a basis for transactions.)</p><p></article></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202108042223407e7368bf&s=b\">自选股智能写手</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/082208e3c37780dd55878056410ffa43","relate_stocks":{"YQ":"一起教育科技"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202108042223407e7368bf&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2157835104","content_text":"北京时间2021年08月04日22时23分，一起教育科技（YQ.us）股票出现异动，股价大幅拉升5.09%。截至发稿，该股报1.20美元/股，成交量87.7922万股，换手率0.46%，振幅5.26%。最近的财报数据显示，该股实现营业收入73.19百万美元，净利润-1.02亿美元，每股收益-0.21美元，毛利44.24百万美元，市盈率-0.33倍。机构评级方面，在所有2家参与评级的机构中，100%的券商给予卖出建议，无券商给予买入、持有建议。一起教育科技股票所在的教育服务行业中，整体跌幅为0.33%。其相关个股中，美联国际教育集团、瑞思教育、朴新教育涨幅较大，美联国际教育集团、朴新教育、无忧英语较为活跃，换手率分别为9.49%、4.66%、1.98%，振幅较大的相关个股有尚德机构、朴新教育、Meten Edtechx Education Group Ltd C/Wts 31/03/2025(To Pur Com)，振幅分别为27.34%、26.38%、25.40%。一起教育科技公司简介：一起教育科技集团公司是一家在线辅导公司。 这是一家教育技术公司，向K-12以上学校的老师，学生和家长提供数据驱动的教学，学习和评估产品。（以上内容为自选股智能机器写手Money Call完成，仅作为用户看盘参考，不作为交易依据。）","news_type":1,"symbols_score_info":{"YQ":1}},"isVote":1,"tweetType":1,"viewCount":2897,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803556201,"gmtCreate":1627450955303,"gmtModify":1703490222849,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"劉洧綸","avatar":"https://community-static.tradeup.com/news/ac36586443a36b162393703e2f3db72a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578562412522571","idStr":"3578562412522571"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/803556201","repostId":"2154471932","repostType":2,"repost":{"id":"2154471932","kind":"news","pubTimestamp":1627247520,"share":"https://ttm.financial/m/news/2154471932?lang=en_US&edition=fundamental","pubTime":"2021-07-26 05:12","market":"hk","language":"zh","title":"Still the same smell! BlackBerry 2021 new mobile phone renderings exposed","url":"https://stock-news.laohu8.com/highlight/detail?id=2154471932","media":"中关村在线","summary":"黑莓几经易主，如今已经找到了新东家。而即将推出新手机的消息也不胫而走。不过，时至今日，黑莓的新品依然没有推出，不过在近日，外媒Letsgodigital就制作出了黑莓2021新品的外观图，依然实体的全键盘，以及方正的造型。不得不说，那个味真冲。对于黑莓这款手机的外观，你怎么看？","content":"<p><html><body><p cms-style=\"font-L isIntable \"><a href=\"https://laohu8.com/S/BBRY\">Blackberry</a>After several changes of hands, I have now found a new owner. And the news of the upcoming launch of a new mobile phone spread like wildfire. But to this day,<a href=\"https://laohu8.com/S/BB\">Blackberry</a>The new product has not yet been launched, but recently, foreign media Letsgodigital has produced the appearance of the new BlackBerry 2021 product, which still has a physical full keyboard and a square shape. I have to say, that smell is really strong. What do you think of the appearance of this BlackBerry phone?</p><p><figure><img h=\"578\" src=\"http://n.sinaimg.cn/spider20210726/718/w940h578/20210726/8468-0a1910548e8828cf66d91f68d6eaa49c.jpg\" w=\"940\"/><h2></h2></figure><figure><img h=\"620\" src=\"http://n.sinaimg.cn/spider20210726/760/w940h620/20210726/7412-663b4776d38f3a8a4920905cd1f32167.jpg\" w=\"940\"/><h2></h2></figure><figure><img h=\"640\" src=\"http://n.sinaimg.cn/spider20210726/780/w940h640/20210726/4e52-e25ec181d3a477377e7c2c33575e8eee.jpg\" w=\"940\"/><h2></h2></figure><figure><img h=\"578\" src=\"http://n.sinaimg.cn/spider20210726/718/w940h578/20210726/478d-b8482eaac706d80526569900df4ae799.jpg\" w=\"940\"/><h2></h2></figure><figure><img h=\"622\" src=\"http://n.sinaimg.cn/spider20210726/762/w940h622/20210726/4ae5-4a144a73988ad83ec20f15411827ed5a.jpg\" w=\"940\"/><h2></h2></figure><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Still the same smell! BlackBerry 2021 new mobile phone renderings exposed</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\">\nStill the same smell! BlackBerry 2021 new mobile phone renderings exposed\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中关村在线</strong><span class=\"h-time small\">2021-07-26 05:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><p cms-style=\"font-L isIntable \"><a href=\"https://laohu8.com/S/BBRY\">Blackberry</a>After several changes of hands, I have now found a new owner. And the news of the upcoming launch of a new mobile phone spread like wildfire. But to this day,<a href=\"https://laohu8.com/S/BB\">Blackberry</a>The new product has not yet been launched, but recently, foreign media Letsgodigital has produced the appearance of the new BlackBerry 2021 product, which still has a physical full keyboard and a square shape. I have to say, that smell is really strong. What do you think of the appearance of this BlackBerry phone?</p><p><figure><img h=\"578\" src=\"http://n.sinaimg.cn/spider20210726/718/w940h578/20210726/8468-0a1910548e8828cf66d91f68d6eaa49c.jpg\" w=\"940\"/><h2></h2></figure><figure><img h=\"620\" src=\"http://n.sinaimg.cn/spider20210726/760/w940h620/20210726/7412-663b4776d38f3a8a4920905cd1f32167.jpg\" w=\"940\"/><h2></h2></figure><figure><img h=\"640\" src=\"http://n.sinaimg.cn/spider20210726/780/w940h640/20210726/4e52-e25ec181d3a477377e7c2c33575e8eee.jpg\" w=\"940\"/><h2></h2></figure><figure><img h=\"578\" src=\"http://n.sinaimg.cn/spider20210726/718/w940h578/20210726/478d-b8482eaac706d80526569900df4ae799.jpg\" w=\"940\"/><h2></h2></figure><figure><img h=\"622\" src=\"http://n.sinaimg.cn/spider20210726/762/w940h622/20210726/4ae5-4a144a73988ad83ec20f15411827ed5a.jpg\" w=\"940\"/><h2></h2></figure><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://tech.sina.cn/mobile/xp/2021-07-26/detail-ikqciyzk7627860.d.html?vt=4\">中关村在线</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://k.sinaimg.cn/n/tech/667/w400h267/20210726/e2fb-24bfb81f888fbdd8d1edd5bc3c8c45a1.jpg/w120h90l50t1215.jpg","relate_stocks":{"BB":"黑莓"},"source_url":"https://tech.sina.cn/mobile/xp/2021-07-26/detail-ikqciyzk7627860.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154471932","content_text":"黑莓几经易主，如今已经找到了新东家。而即将推出新手机的消息也不胫而走。不过，时至今日，黑莓的新品依然没有推出，不过在近日，外媒Letsgodigital就制作出了黑莓2021新品的外观图，依然实体的全键盘，以及方正的造型。不得不说，那个味真冲。对于黑莓这款手机的外观，你怎么看？","news_type":1,"symbols_score_info":{"BB":1,"BBRY":1}},"isVote":1,"tweetType":1,"viewCount":2822,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177985511,"gmtCreate":1627176129333,"gmtModify":1703485020940,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"劉洧綸","avatar":"https://community-static.tradeup.com/news/ac36586443a36b162393703e2f3db72a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578562412522571","idStr":"3578562412522571"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/177985511","repostId":"2154558939","repostType":4,"isVote":1,"tweetType":1,"viewCount":3143,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3572683426659077","authorId":"3572683426659077","name":"haiwei183","avatar":"https://static.tigerbbs.com/1cae291bddff5a30eeb96060074d8531","crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3572683426659077","idStr":"3572683426659077"},"content":"Student driveHeart","text":"Student driveHeart","html":"Student driveHeart"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175300036,"gmtCreate":1627005057525,"gmtModify":1703482257122,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"劉洧綸","avatar":"https://community-static.tradeup.com/news/ac36586443a36b162393703e2f3db72a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578562412522571","idStr":"3578562412522571"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/175300036","repostId":"1145426029","repostType":4,"repost":{"id":"1145426029","kind":"news","weMediaInfo":{"introduction":"界面是中国最大的商业新闻和社交平台，只服务于独立思考的人群。","home_visible":1,"media_name":"界面新闻","id":"30","head_image":"https://static.tigerbbs.com/be3a47b8a80a6b0d62c8f48a7534c1af"},"pubTimestamp":1627004634,"share":"https://ttm.financial/m/news/1145426029?lang=en_US&edition=fundamental","pubTime":"2021-07-23 09:43","market":"us","language":"zh","title":"Louis Vuitton announces termination of partnership with Wu Yifan","url":"https://stock-news.laohu8.com/highlight/detail?id=1145426029","media":"界面新闻","summary":"@路易威登 微博7月23日发布声明称，鉴于相关通报，路易威登宣布终止与吴亦凡先生之合作关系。至此，吴亦凡所有的商务代言品牌均已发布声明终止与其合作关系。","content":"<p><div>@ Louis Vuitton Weibo issued a statement on July 23rd, saying that in view of the relevant notification, Louis Vuitton announced the termination of its cooperative relationship with Mr. Wu Yifan. So far, all business endorsement brands in Wu Yifan have issued a statement to terminate their cooperative relationship.</p><p><a href=\"None\">Web link</a></div></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>Louis Vuitton announces termination of partnership with Wu Yifan</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\">\nLouis Vuitton announces termination of partnership with Wu Yifan\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/30\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/be3a47b8a80a6b0d62c8f48a7534c1af);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">界面新闻 </p>\n<p class=\"h-time smaller\">2021-07-23 09:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><div>@ Louis Vuitton Weibo issued a statement on July 23rd, saying that in view of the relevant notification, Louis Vuitton announced the termination of its cooperative relationship with Mr. Wu Yifan. So far, all business endorsement brands in Wu Yifan have issued a statement to terminate their cooperative relationship.</p><p><a href=\"None\">Web link</a></div></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/26f7117b8f61d803c2af1c8c8191ab6b","relate_stocks":{"LVMUY":"路易威登"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145426029","content_text":"@路易威登 微博7月23日发布声明称，鉴于相关通报，路易威登宣布终止与吴亦凡先生之合作关系。至此，吴亦凡所有的商务代言品牌均已发布声明终止与其合作关系。","news_type":1,"symbols_score_info":{"LVMUY":0.9}},"isVote":1,"tweetType":1,"viewCount":4080,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172967144,"gmtCreate":1626928351388,"gmtModify":1703480778006,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"劉洧綸","avatar":"https://community-static.tradeup.com/news/ac36586443a36b162393703e2f3db72a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578562412522571","idStr":"3578562412522571"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/172967144","repostId":"1156634716","repostType":4,"isVote":1,"tweetType":1,"viewCount":2671,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149618013,"gmtCreate":1625721912232,"gmtModify":1703747116678,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"劉洧綸","avatar":"https://community-static.tradeup.com/news/ac36586443a36b162393703e2f3db72a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578562412522571","idStr":"3578562412522571"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/149618013","repostId":"2149310828","repostType":4,"repost":{"id":"2149310828","kind":"highlight","pubTimestamp":1625721752,"share":"https://ttm.financial/m/news/2149310828?lang=en_US&edition=fundamental","pubTime":"2021-07-08 13:22","market":"hk","language":"zh","title":"Burning money is too crazy? Building cars scare off investors","url":"https://stock-news.laohu8.com/highlight/detail?id=2149310828","media":"好看商业","summary":"投资人为什么怕了？","content":"<p>July 7th,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Landing on the Hong Kong stock market, becoming the Hong Kong Stock Exchange \"<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>The first share of electric vehicles \".</p><p><img src=\"https://static.tigerbbs.com/5eb0061f36bc078c5f5185507799a8fa\" tg-width=\"1080\" tg-height=\"599\" referrerpolicy=\"no-referrer\"></p><p>XPeng's listing on the Hong Kong stock market is just \"three idiots in building cars\" (<a href=\"https://laohu8.com/S/NIO\">Nio</a>, XPeng, Ideal) the beginning of entering Hong Kong.</p><p>Previously, Nio and Ideal also reported that they would be listed on the Hong Kong stock market.</p><p>And listing in many places, first U.S. stocks, then Hong Kong stocks, and finally A shares, is likely to become a common financing path for the \"three idiots of car making\".</p><p>After all, if you want to play the game of building a car, the more money, the better.</p><p>In 2021, car manufacturing will once again stand at the forefront.<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Millet,<a href=\"https://laohu8.com/S/DIDI\">Didi</a>, 360 and other Internet and technology giants have built cars across borders; Traditional OEMs such as SAIC and Geely have also launched new smart car brands; Although Huawei claims that it does not build cars, it is also actively involved in the car-making industry to help car companies build cars.</p><p>Compared with the last round of star entrepreneurs entering the game to build cars, this wave of giants looks more \"ruthless\"-they have stronger capital and resource advantages, and they seem determined to build cars.</p><p>Whether it is a prominent star entrepreneur or this wave of technology giants, they are obviously serious about entering the game to build cars.</p><p>After all, you may not be able to build a car without burning tens of billions of dollars, and no one wants to miss the multiple opportunities of the times of fuel vehicles transitioning to electric vehicles, traditional cars transitioning to smart cars, and domestic cars \"overtaking in corners\".</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The soaring performance and market value of pioneers such as Nio, Ideal, and XPeng have also become the confidence support of more entrants.</p><p>The entry of this wave of giants has also turned car-making into a higher-level money-burning game. Tickets for admission are getting more and more expensive and fewer, and the risk of admission is getting higher and higher.</p><p><b>But in sharp contrast, investors have generally calmed down. \"Can't afford to invest, dare not invest\" has become the state of many people in the primary market. Although the secondary market pays great attention to new cars, it is generally believed that the valuation is relatively high, and industry competition has escalated into a major risk.</b></p><p>On the first day of Hong Kong stock listing, XPeng opened at HK $168, slightly higher than the issue price by 1.8%, but it quickly broke. The stock price hit a minimum of HK $159.3 and finally closed at HK $165.</p><p>It can be seen that the concerns of Hong Kong stock investors about smart electric vehicles have emerged.</p><p>The burning of money for new cars has never stopped, profits have not yet been realized, but competition continues to escalate. In this stage of unusual competition for \"money ability\", who can finally stay at the poker table?</p><p><h2><b>1 </b><b>Why are the new car-making forces desperately raising funds?</b></h2>In the past two years, the return of Chinese concept stocks to Hong Kong has become a trend, and new car-making forces represented by XPeng Automobile have also joined the tide of returning to Hong Kong.</p><p>This time, XPeng used the method of \"Dual Primary Listing\" to land on the Hong Kong stock market.</p><p>Different from \"secondary listing\", \"dual primary listing\" refers to dual listing entities, and its listing review is stricter, so it is easier to be included in Hong Kong Stock Connect, which is convenient for A-share investors to participate. This is also seen as XPeng Automobile paving the way for A-share listing.</p><p>The Dolphin Investment Research Team of Longbridge Securities believes that returning to Hong Kong for listing can bring the following benefits to new car-making forces: avoiding potential delisting risks in the US stock market; Enrich financing channels; Expand the influence of enterprises and products.</p><p>In May last year, the U.S. Senate approved the Holding Foreign Companies Accountable Act, which is regarded as mainly aimed at Chinese companies listed in the United States.</p><p>The bill requires that if a foreign issuer fails to meet the inspection requirements of the U.S. Public Company Accounting Oversight Board for accounting firms for three consecutive years, its securities shall be prohibited from trading in the United States.</p><p>\"The delisting risk of U.S. stocks is higher than that of A-shares, and Chinese concept stocks sometimes collectively face a crisis of confidence, which may trigger the delisting risk,\" the Dolphin Investment Research team believes.</p><p>There have been signs of new car-making forces seeking to go public in many places before.</p><p>In early March this year, Reuters reported that Nio Automobile,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>And XPeng Motors plan to list in Hong Kong as soon as this year. According to its U.S. stock market value, it is estimated that the three companies can raise a total of $5 billion.</p><p>On May 25, after the release of the 2021 Ideal ONE, Li Auto founder Li Xiang publicly stated that \"I don't mind obtaining more capital reserves in any way in the future\" and does not exclude financing from the secondary market, bank loans and bond issuance. Wait to obtain funds.</p><p>In fact, in the short term, the three new car companies are not short of money in their accounts. As of the end of the first quarter of this year, the capital reserves of Nio, XPeng and Ideal were 47.55 billion yuan, 36.2 billion yuan and 30.36 billion yuan respectively.</p><p><img src=\"https://static.tigerbbs.com/635c0c0010c12192e9c20dbe50244b97\" tg-width=\"850\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>But the burning of money has never stopped, and the profit has not yet started. The tens of billions of funds in their accounts can't give them enough sense of security.</p><p>There's plenty more where they have to spend money. According to the analysis of Dolphin Investment Research, the immaturity of smart car technology route leads to high pressure on R&D investment; Subverting the business model also needs to cooperate with the direct sales model, the cost of showrooms and sales staff, which make it difficult for new car-making forces to achieve positive gross profit margins. At the same time, they also face fierce competition for products and talents.</p><p><b>An executive of an Internet brokerage mentioned that the listing of new car-making forces in many places should be a plan designed from the beginning, because the demand for funds for car-making is too large. Seek A-share IPO, and this order cannot be reversed, because if the initial listing is placed in China, their situation will easily get stuck and they cannot afford to wait.</b></p><p>Since the beginning of this year, the three new car companies have made large-scale efforts by launching new models, upgrading supporting software, and expanding services and sales networks. R&D investment is even larger. In 2021, they will invest heavily in R&D. Nio and Ideal have made it clear that they will spend 5 billion yuan and 3 billion yuan as R&D expenses this year respectively.</p><p>From the perspective of profitability, although the gross profit margins of the three companies have turned positive in fiscal year 2020, the overall situation is still at a loss. The total net loss of the three car companies in Q1 this year exceeded 1.5 billion yuan.</p><p><img src=\"https://static.tigerbbs.com/61f3bb64c9dd3e943763f600ffd632b6\" tg-width=\"854\" tg-height=\"514\" referrerpolicy=\"no-referrer\"></p><p>To achieve real profitability, a larger delivery volume is needed. For profit expectations, XPeng, which was the first to list in Hong Kong, is expected to achieve breakeven by the end of 2023 or 2024.</p><p>Before seeking to go public in multiple places, the three new car companies have raised funds by issuing additional shares in the US stock market many times.</p><p>On December 4, 2020, Li Auto applied for the issuance of 47 million additional American depositary shares. According to estimates at the time, if the underwriters exercised the over-allotment option, a total of approximately US $1.841 billion would be raised. On December 7 of the same year, XPeng raised up to US $2.16 billion through an additional issuance of US stocks, which was the largest first additional issuance of stocks in the history of Chinese concept stocks.</p><p>Nio has completed three additional issuances of US stocks in the past year, with the first two raising US $490 million and US $1.73 billion respectively; The maximum amount raised by the additional issuance on December 14 last year was US $3.05 billion.</p><p>Despite the continuous attraction of money through multiple channels, new car companies are unabated about funds. XPeng made a risk warning in the Hong Kong stock prospectus-\"Companies are still generating losses and negative operating cash flow, and this situation may continue for some time.\"</p><p>Compared with the top three companies, second-tier new car brands are struggling on the edge of food and clothing.</p><p><b>It is becoming increasingly difficult for new car companies to raise funds in the primary market. Under the double attack of new car companies and traditional OEMs, second-tier new car brands have pinned their financing hopes on the secondary market.</b></p><p>In April this year<a href=\"https://laohu8.com/S/00708\">Evergrande Auto</a>Raised HK $26 billion in Hong Kong stocks. In addition, Evergrande Automobile, Nezha Automobile, AIWAYS Automobile, Leapmotor Automobile and Tianji Automobile all hope to land on the Science and Technology Innovation Board for financing.</p><p>However, science and technology innovation board's \"first automobile stock\" has been difficult to produce so far. Not long ago, WM Motor's IPO on the Science and Technology Innovation Board was blocked, which also cast a shadow over the listing of other second-tier new car brands.</p><p><h2><b>2 </b><b>When giants enter the market, how does the competition escalate?</b></h2>Why are new car-making forces anxious?</p><p>Obviously, the new car track has become a competition for big players-traditional OEMs, technology giants, and cross-border giants are showing their magical powers.</p><p>These companies may have supply chain advantages, financial strength, technological accumulation, or multiple advantages, and they are often bigger and more powerful than new car-making forces in terms of \"size\".</p><p>The entry of giants into the market has also raised the competition of \"money ability\" in the new car industry to a new level.</p><p>In terms of financial strength, whether it is out of pocket or external financing, each company is closely expanding food, grass and ammunition.</p><p><img src=\"https://static.tigerbbs.com/0d33e3a7d17e8005e0d4afb44d2a2010\" tg-width=\"902\" tg-height=\"344\" referrerpolicy=\"no-referrer\"></p><p>Good-looking commercial mapping based on public information</p><p>In March this year, Baidu and Geely jointly established Jidu Automobile, a smart car company. Its CEO Xia Yiping said that after the launch of the first car, it plans to invest about 50 billion yuan in the next five years.</p><p>He also said, \"External financing is a must, and it is planned to do external financing in the third quarter of this year\".</p><p>Lei Jun, who regards car building as the last gamble in his entrepreneurial career, also changed his usual frugal attitude, saying that \"Xiaomi is not short of money and can afford to lose money\", and announced that he would invest 10 billion US dollars in car building in 10 years, with an initial investment of 10 billion yuan. RMB.</p><p><img src=\"https://static.tigerbbs.com/7d2f25f650b4cefedfdbcc919a15b19c\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>Zhou Hongyi and his 360 don't want to miss this automotive revolution. But 360 does not build cars in person, but tests the feasibility of providing safety technology for car companies by investing in Nezha Automobile.</p><p>After strategically leading the 3 billion yuan D round of financing of Nezha Automobile, 360 may become the second largest shareholder of Nezha Automobile. In the short term, 360 will mainly output 360 safety systems for Nezha Automobile. According to Zhou Hongyi's plan, Nezha is just a sample of 360 and will provide safety technology for more car companies in the future.</p><p><a href=\"https://laohu8.com/S/00751\">Skyworth Group</a>Huang Hongsheng, chairman and chairman of Kaiwo New Energy Automobile, announced that Skyworth Automobile has invested 10 billion yuan to establish a dual-use system for commercial and passenger vehicles; Another 30 billion yuan will be invested in the future.</p><p>Evergrande Automobile, which entered the game to build cars earlier, showed its consistent \"inhumanity\".</p><p>The 2020 annual report shows that they are developing 14 cars simultaneously; A total of 47.4 billion yuan has been invested in the new energy automobile industry, of which 24.9 billion yuan is used to acquire core technologies and research and development expenses, and 22.5 billion yuan is used for car factory construction, equipment procurement, auto parts procurement, etc.</p><p>In the OEM camp,<a href=\"https://laohu8.com/S/002594\">BYD</a>、<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>With<a href=\"https://laohu8.com/S/600104\">SAIC Group</a>It has also increased investment in new energy vehicles.</p><p>BYD is currently the only company in the automotive industry that has a layout in the entire new energy vehicle industry chain. During the three years from 2018 to 2020, BYD's annual research and development amount exceeded 8 billion yuan, with a total investment of approximately 25 billion yuan in the three years.</p><p>After the popular model-\"BYD * Han\" drives its new energy sales, BYD will also make efforts in power batteries, DMI hybrid systems and software systems.</p><p>Geely Automobile, which has been developing slowly in new energy before, hopes to make a turnaround through the new brand Geely Jikrypton 001. Geely Jikrypton 001 made its debut at the Shanghai Auto Show and is scheduled to be delivered in Q4 this year. This car is built by Geely SEA's vast intelligent architecture. In order to build this intelligent architecture platform, Geely spent 4 years and invested more than 18 billion yuan.</p><p>Public data shows that Geely has invested more than 30 billion yuan in new energy research and development and industry. In the prospectus seeking listing on the Science and Technology Innovation Board, Geely said that it will also increase investment in research and development and plans to raise 20 billion yuan, of which about 8 billion yuan will be used for the development of new energy models or the upgrading of some existing models; About 3 billion yuan will be used for forward-looking technology research and development projects related to new energy technologies. However, after its listing on the Science and Technology Innovation Board failed, Geely said it would seek external financing.</p><p>At the end of November last year, SAIC and Ali jointly established the pure electric vehicle brand \"Zhiji Automobile\". The first round of financing reached 10 billion yuan, which also became a new car project with the first round of financing reaching 10 billion yuan.</p><p><b>While hoarding food and grass, recruiting troops. Since the beginning of this year, the \"war to grab people\" of new energy vehicles has reached a white-hot stage.</b></p><p>Various new car manufacturers began to poach people with high salaries. According to a report released by Liepin in January this year, new energy vehicles have become the fastest growing field for new jobs, with a year-on-year surge of 103.53%. With the entry of new players, the news of grabbing people with an annual salary of millions is endless.</p><p>Recently, Xiaomi announced more than 20 autonomous driving-related positions that need to be \"urgently hired\" on the company's official website; Jidu Automobile plans to reach 2,000-3,000 employees by the end of next year, including 400-500 software engineers.</p><p>Since June, the 360 smart car team has started recruiting, and Zhou Hongyi is in<a href=\"https://laohu8.com/S/WB\">Weibo</a>I personally shouted and welcomed talents in the automotive industry to recommend themselves, saying that the company \"fully liberalizes and fully supports salary and benefits\".</p><p>In April this year, the recruitment of Li Auto R&D Center has started, and the recruitment scale is expected to exceed 2,000 people. XPeng vehicles will also double the number of R&D personnel by the end of 2021.</p><p><b>In addition to the war of poaching people, building factories to expand production capacity and expanding offline stores also requires a large investment.</b></p><p>In order to subvert the traditional 4S stores, new forces such as Nio, Ideal and XPeng have rushed to open offline stores in shopping malls.</p><p>Even Huawei, which has repeatedly emphasized being a supplier to car companies, has joined the store opening army. According to<a href=\"https://laohu8.com/S/00700\">Tencent</a>Shenzhen reported that in order to achieve Yu Chengdong's internal goal of selling 300,000 units next year, Huawei plans to sell cars in 200 experience stores before the end of July and expand to more than 1,000 by the end of the year.</p><p><h2><b>3 </b><b>Why are investors afraid?</b></h2>The car-making movement is like a raging fire, but the investment in car-making projects is like a moth flying to a flame.</p><p><b>Investors have generally calm about car-making projects. A number of PE/VC institutions told good-looking business that they \"dare not invest\", \"cannot afford to invest\", and \"it is too late to enter the market now\".</b></p><p>An industry consensus is that new cars have become a higher-level capital game, with tickets getting more and more expensive, fewer and fewer, and higher and higher risks. Individual entrepreneurs are also not suitable for re-entering the market to build complete vehicles.</p><p>\"Whether it's an early project for a complete vehicle or a new fund investment, it's too late to enter the market at this point,\" a foreign investment institution told Haokan Business. Now there are fewer opportunities and higher investment costs; Even a car-making project with an industrial background depends on the investment cost.</p><p>A local Pe investor even bluntly said, \"I don't look at the whole car, because the plate is too big, I can't afford it, and there are pits in it. In the end, there is a hundred deaths that will be considered good.\"</p><p>\"There were many funds that threw money before and then died in it. Everyone realized that this was a long-term investment.\" An FA organization that pays attention to the automobile track said that including local governments and industrial capital, now they dare to bet There are not many in this industry, because everyone who dared to bet before has already bet.</p><p><b>Even powerful local government funds are a bit \"discouraged\" from investing in new cars.</b></p><p>A person in charge of an enterprise serving local governments to attract investment told Haokan Business, \"Government funds generally hold a negative attitude towards investing in complete vehicle projects. If the smart car projects done by traditional OEMs are more supportive, forget about others, especially for those early vehicle projects, we will be very cautious.\"</p><p>This trend didn't form in a day.</p><p>it Orange has a data of \"nearly 5 quarters\" as of Q3 2020, which shows that among the popular industries with a financing amount of more than 4 billion yuan, there are only 15 financing events of \"new car manufacturing and hardware\", with a total financing amount of 22.744 billion yuan. Far less popular than industries such as biomedicine, medical devices, integrated circuits, food, video, and live broadcast.</p><p><img src=\"https://static.tigerbbs.com/68eb02f4553921a70f6e20ee5b0b9e01\" tg-width=\"834\" tg-height=\"444\" referrerpolicy=\"no-referrer\"></p><p>According to a report released by BAIC Industrial Investment and Zero2IPO Research Center, in fact, since 2016, the proportion of investment in pan-automotive and large travel fields in the equity investment market has been declining, from 27.5% in 2016 to 14% in 2019.</p><p>Entering 2021, there are only a handful of private equity financing cases of new car companies.</p><p>According to public information, in January, Leapao Technology announced Series B financing, amounting to 4.3 billion yuan. Strategic investors include SDIC Chuangyi, Zhejiang University Jiuyonghua Capital, etc. BYTON Automobile restarted and signed a strategic cooperation framework agreement with Foxconn Technology Group and Nanjing Economic and Technological Development Zone.</p><p><b>Investors' \"fear\" of car manufacturing partly comes from the increasingly higher investment risks in the car manufacturing track; Some of them also come from the tragedy of the last round of investment failures.</b></p><p>For example, Jia Yueting's \"LeTV Car Accident\".</p><p>In September and November, 2016, LeTV completed two rounds of financing, with a scale of nearly US $1.7 billion. There are many well-known institutions such as Yingda Capital, Shenzhen Venture Capital and Macrolink Group under the State Grid. However, after LeTV's ecological capital chain was broken, LeTV's automobile investors were deeply trapped.</p><p><img src=\"https://static.tigerbbs.com/01faa1c3bd932212de51a245f42efd85\" tg-width=\"1058\" tg-height=\"216\" referrerpolicy=\"no-referrer\"></p><p>It is unknown whether LeTV has returned the investor's funds at present. Although it is still in existence, it has repeatedly become the executor of dishonesty and is riddled with lawsuits.</p><p>Jiangsu local governments have also stepped on new energy vehicle projects one after another. According to public information, BYTON, Sailin and Bojun Automobile, the new car companies that have given a lot of support in Jiangsu, have fallen into the dilemma of shutdown and bankruptcy after burning 16 billion yuan.</p><p>These \"tragedies\" are enough to discourage investors in the primary market.</p><p><b>In the secondary market, investors still pay high attention to new car stocks.</b></p><p>In Hong Kong stocks, XPeng Motor was nearly 15 times oversubscribed during its IPO.</p><p>In the U.S. stock market, in the two months ending July 7, Nio, XPeng, and Ideal stocks recorded gains of about 70%, 90%, and 100% respectively. Tesla's stock price rose the smallest over the same period, about 5%.</p><p>In A-shares, BYD's stock price has risen by more than 85% in less than 2 months after trading sideways for a period of time.</p><p><img src=\"https://static.tigerbbs.com/a57909782454eb173ac6f6285a6be053\" tg-width=\"1080\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p>An auto analyst from a well-known domestic brokerage mentioned that behind the rise in the stock price of smart car stocks, in addition to the stimulation of soaring performance, they also benefited from the increase in their software service revenue.</p><p>\"If smart electric vehicles can complete the closed loop from complete vehicles to software services and data revenue, the secondary market will not be stingy with giving them high valuations,\" he said.</p><p>The Dolphin Investment Research Team of Longbridge Securities believes that there is no doubt about the broad prospects of smart electric vehicles at present, and the policies of China and the European Union are also very powerful, but competition has escalated into a major risk.</p><p>They believe that the secondary market still pays a lot of attention to smart cars, but it is generally believed that the valuation is also relatively high, so the focus of the secondary market will spread to companies in the automobile industry chain.</p><p><b>While many people are still paying attention to the valuation and risks of new cars, Yan Yan, the founding managing partner of SAIF Asia Investment Fund, has a premonition of the coming of industry reshuffle.</b></p><p>In a recent interview with the media, Yan Yan asserted that the wave of bankruptcy of new car-making forces will not be too far away, and now many companies are dying; Because without tens of billions of investment, cars cannot be built.</p><p>Car-making has now evolved into a movement, and has entered an era of crazy competition for \"money ability\". How can I stay at the poker table?</p><p>There is a prize quiz for this question, and the answer is worth at least 100 billion dollars.</p>","source":"lsy1622337641338","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>Burning money is too crazy? Building cars scare off investors</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\">\nBurning money is too crazy? Building cars scare off investors\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">好看商业</strong><span class=\"h-time small\">2021-07-08 13:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>July 7th,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Landing on the Hong Kong stock market, becoming the Hong Kong Stock Exchange \"<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>The first share of electric vehicles \".</p><p><img src=\"https://static.tigerbbs.com/5eb0061f36bc078c5f5185507799a8fa\" tg-width=\"1080\" tg-height=\"599\" referrerpolicy=\"no-referrer\"></p><p>XPeng's listing on the Hong Kong stock market is just \"three idiots in building cars\" (<a href=\"https://laohu8.com/S/NIO\">Nio</a>, XPeng, Ideal) the beginning of entering Hong Kong.</p><p>Previously, Nio and Ideal also reported that they would be listed on the Hong Kong stock market.</p><p>And listing in many places, first U.S. stocks, then Hong Kong stocks, and finally A shares, is likely to become a common financing path for the \"three idiots of car making\".</p><p>After all, if you want to play the game of building a car, the more money, the better.</p><p>In 2021, car manufacturing will once again stand at the forefront.<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Millet,<a href=\"https://laohu8.com/S/DIDI\">Didi</a>, 360 and other Internet and technology giants have built cars across borders; Traditional OEMs such as SAIC and Geely have also launched new smart car brands; Although Huawei claims that it does not build cars, it is also actively involved in the car-making industry to help car companies build cars.</p><p>Compared with the last round of star entrepreneurs entering the game to build cars, this wave of giants looks more \"ruthless\"-they have stronger capital and resource advantages, and they seem determined to build cars.</p><p>Whether it is a prominent star entrepreneur or this wave of technology giants, they are obviously serious about entering the game to build cars.</p><p>After all, you may not be able to build a car without burning tens of billions of dollars, and no one wants to miss the multiple opportunities of the times of fuel vehicles transitioning to electric vehicles, traditional cars transitioning to smart cars, and domestic cars \"overtaking in corners\".</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The soaring performance and market value of pioneers such as Nio, Ideal, and XPeng have also become the confidence support of more entrants.</p><p>The entry of this wave of giants has also turned car-making into a higher-level money-burning game. Tickets for admission are getting more and more expensive and fewer, and the risk of admission is getting higher and higher.</p><p><b>But in sharp contrast, investors have generally calmed down. \"Can't afford to invest, dare not invest\" has become the state of many people in the primary market. Although the secondary market pays great attention to new cars, it is generally believed that the valuation is relatively high, and industry competition has escalated into a major risk.</b></p><p>On the first day of Hong Kong stock listing, XPeng opened at HK $168, slightly higher than the issue price by 1.8%, but it quickly broke. The stock price hit a minimum of HK $159.3 and finally closed at HK $165.</p><p>It can be seen that the concerns of Hong Kong stock investors about smart electric vehicles have emerged.</p><p>The burning of money for new cars has never stopped, profits have not yet been realized, but competition continues to escalate. In this stage of unusual competition for \"money ability\", who can finally stay at the poker table?</p><p><h2><b>1 </b><b>Why are the new car-making forces desperately raising funds?</b></h2>In the past two years, the return of Chinese concept stocks to Hong Kong has become a trend, and new car-making forces represented by XPeng Automobile have also joined the tide of returning to Hong Kong.</p><p>This time, XPeng used the method of \"Dual Primary Listing\" to land on the Hong Kong stock market.</p><p>Different from \"secondary listing\", \"dual primary listing\" refers to dual listing entities, and its listing review is stricter, so it is easier to be included in Hong Kong Stock Connect, which is convenient for A-share investors to participate. This is also seen as XPeng Automobile paving the way for A-share listing.</p><p>The Dolphin Investment Research Team of Longbridge Securities believes that returning to Hong Kong for listing can bring the following benefits to new car-making forces: avoiding potential delisting risks in the US stock market; Enrich financing channels; Expand the influence of enterprises and products.</p><p>In May last year, the U.S. Senate approved the Holding Foreign Companies Accountable Act, which is regarded as mainly aimed at Chinese companies listed in the United States.</p><p>The bill requires that if a foreign issuer fails to meet the inspection requirements of the U.S. Public Company Accounting Oversight Board for accounting firms for three consecutive years, its securities shall be prohibited from trading in the United States.</p><p>\"The delisting risk of U.S. stocks is higher than that of A-shares, and Chinese concept stocks sometimes collectively face a crisis of confidence, which may trigger the delisting risk,\" the Dolphin Investment Research team believes.</p><p>There have been signs of new car-making forces seeking to go public in many places before.</p><p>In early March this year, Reuters reported that Nio Automobile,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>And XPeng Motors plan to list in Hong Kong as soon as this year. According to its U.S. stock market value, it is estimated that the three companies can raise a total of $5 billion.</p><p>On May 25, after the release of the 2021 Ideal ONE, Li Auto founder Li Xiang publicly stated that \"I don't mind obtaining more capital reserves in any way in the future\" and does not exclude financing from the secondary market, bank loans and bond issuance. Wait to obtain funds.</p><p>In fact, in the short term, the three new car companies are not short of money in their accounts. As of the end of the first quarter of this year, the capital reserves of Nio, XPeng and Ideal were 47.55 billion yuan, 36.2 billion yuan and 30.36 billion yuan respectively.</p><p><img src=\"https://static.tigerbbs.com/635c0c0010c12192e9c20dbe50244b97\" tg-width=\"850\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>But the burning of money has never stopped, and the profit has not yet started. The tens of billions of funds in their accounts can't give them enough sense of security.</p><p>There's plenty more where they have to spend money. According to the analysis of Dolphin Investment Research, the immaturity of smart car technology route leads to high pressure on R&D investment; Subverting the business model also needs to cooperate with the direct sales model, the cost of showrooms and sales staff, which make it difficult for new car-making forces to achieve positive gross profit margins. At the same time, they also face fierce competition for products and talents.</p><p><b>An executive of an Internet brokerage mentioned that the listing of new car-making forces in many places should be a plan designed from the beginning, because the demand for funds for car-making is too large. Seek A-share IPO, and this order cannot be reversed, because if the initial listing is placed in China, their situation will easily get stuck and they cannot afford to wait.</b></p><p>Since the beginning of this year, the three new car companies have made large-scale efforts by launching new models, upgrading supporting software, and expanding services and sales networks. R&D investment is even larger. In 2021, they will invest heavily in R&D. Nio and Ideal have made it clear that they will spend 5 billion yuan and 3 billion yuan as R&D expenses this year respectively.</p><p>From the perspective of profitability, although the gross profit margins of the three companies have turned positive in fiscal year 2020, the overall situation is still at a loss. The total net loss of the three car companies in Q1 this year exceeded 1.5 billion yuan.</p><p><img src=\"https://static.tigerbbs.com/61f3bb64c9dd3e943763f600ffd632b6\" tg-width=\"854\" tg-height=\"514\" referrerpolicy=\"no-referrer\"></p><p>To achieve real profitability, a larger delivery volume is needed. For profit expectations, XPeng, which was the first to list in Hong Kong, is expected to achieve breakeven by the end of 2023 or 2024.</p><p>Before seeking to go public in multiple places, the three new car companies have raised funds by issuing additional shares in the US stock market many times.</p><p>On December 4, 2020, Li Auto applied for the issuance of 47 million additional American depositary shares. According to estimates at the time, if the underwriters exercised the over-allotment option, a total of approximately US $1.841 billion would be raised. On December 7 of the same year, XPeng raised up to US $2.16 billion through an additional issuance of US stocks, which was the largest first additional issuance of stocks in the history of Chinese concept stocks.</p><p>Nio has completed three additional issuances of US stocks in the past year, with the first two raising US $490 million and US $1.73 billion respectively; The maximum amount raised by the additional issuance on December 14 last year was US $3.05 billion.</p><p>Despite the continuous attraction of money through multiple channels, new car companies are unabated about funds. XPeng made a risk warning in the Hong Kong stock prospectus-\"Companies are still generating losses and negative operating cash flow, and this situation may continue for some time.\"</p><p>Compared with the top three companies, second-tier new car brands are struggling on the edge of food and clothing.</p><p><b>It is becoming increasingly difficult for new car companies to raise funds in the primary market. Under the double attack of new car companies and traditional OEMs, second-tier new car brands have pinned their financing hopes on the secondary market.</b></p><p>In April this year<a href=\"https://laohu8.com/S/00708\">Evergrande Auto</a>Raised HK $26 billion in Hong Kong stocks. In addition, Evergrande Automobile, Nezha Automobile, AIWAYS Automobile, Leapmotor Automobile and Tianji Automobile all hope to land on the Science and Technology Innovation Board for financing.</p><p>However, science and technology innovation board's \"first automobile stock\" has been difficult to produce so far. Not long ago, WM Motor's IPO on the Science and Technology Innovation Board was blocked, which also cast a shadow over the listing of other second-tier new car brands.</p><p><h2><b>2 </b><b>When giants enter the market, how does the competition escalate?</b></h2>Why are new car-making forces anxious?</p><p>Obviously, the new car track has become a competition for big players-traditional OEMs, technology giants, and cross-border giants are showing their magical powers.</p><p>These companies may have supply chain advantages, financial strength, technological accumulation, or multiple advantages, and they are often bigger and more powerful than new car-making forces in terms of \"size\".</p><p>The entry of giants into the market has also raised the competition of \"money ability\" in the new car industry to a new level.</p><p>In terms of financial strength, whether it is out of pocket or external financing, each company is closely expanding food, grass and ammunition.</p><p><img src=\"https://static.tigerbbs.com/0d33e3a7d17e8005e0d4afb44d2a2010\" tg-width=\"902\" tg-height=\"344\" referrerpolicy=\"no-referrer\"></p><p>Good-looking commercial mapping based on public information</p><p>In March this year, Baidu and Geely jointly established Jidu Automobile, a smart car company. Its CEO Xia Yiping said that after the launch of the first car, it plans to invest about 50 billion yuan in the next five years.</p><p>He also said, \"External financing is a must, and it is planned to do external financing in the third quarter of this year\".</p><p>Lei Jun, who regards car building as the last gamble in his entrepreneurial career, also changed his usual frugal attitude, saying that \"Xiaomi is not short of money and can afford to lose money\", and announced that he would invest 10 billion US dollars in car building in 10 years, with an initial investment of 10 billion yuan. RMB.</p><p><img src=\"https://static.tigerbbs.com/7d2f25f650b4cefedfdbcc919a15b19c\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>Zhou Hongyi and his 360 don't want to miss this automotive revolution. But 360 does not build cars in person, but tests the feasibility of providing safety technology for car companies by investing in Nezha Automobile.</p><p>After strategically leading the 3 billion yuan D round of financing of Nezha Automobile, 360 may become the second largest shareholder of Nezha Automobile. In the short term, 360 will mainly output 360 safety systems for Nezha Automobile. According to Zhou Hongyi's plan, Nezha is just a sample of 360 and will provide safety technology for more car companies in the future.</p><p><a href=\"https://laohu8.com/S/00751\">Skyworth Group</a>Huang Hongsheng, chairman and chairman of Kaiwo New Energy Automobile, announced that Skyworth Automobile has invested 10 billion yuan to establish a dual-use system for commercial and passenger vehicles; Another 30 billion yuan will be invested in the future.</p><p>Evergrande Automobile, which entered the game to build cars earlier, showed its consistent \"inhumanity\".</p><p>The 2020 annual report shows that they are developing 14 cars simultaneously; A total of 47.4 billion yuan has been invested in the new energy automobile industry, of which 24.9 billion yuan is used to acquire core technologies and research and development expenses, and 22.5 billion yuan is used for car factory construction, equipment procurement, auto parts procurement, etc.</p><p>In the OEM camp,<a href=\"https://laohu8.com/S/002594\">BYD</a>、<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>With<a href=\"https://laohu8.com/S/600104\">SAIC Group</a>It has also increased investment in new energy vehicles.</p><p>BYD is currently the only company in the automotive industry that has a layout in the entire new energy vehicle industry chain. During the three years from 2018 to 2020, BYD's annual research and development amount exceeded 8 billion yuan, with a total investment of approximately 25 billion yuan in the three years.</p><p>After the popular model-\"BYD * Han\" drives its new energy sales, BYD will also make efforts in power batteries, DMI hybrid systems and software systems.</p><p>Geely Automobile, which has been developing slowly in new energy before, hopes to make a turnaround through the new brand Geely Jikrypton 001. Geely Jikrypton 001 made its debut at the Shanghai Auto Show and is scheduled to be delivered in Q4 this year. This car is built by Geely SEA's vast intelligent architecture. In order to build this intelligent architecture platform, Geely spent 4 years and invested more than 18 billion yuan.</p><p>Public data shows that Geely has invested more than 30 billion yuan in new energy research and development and industry. In the prospectus seeking listing on the Science and Technology Innovation Board, Geely said that it will also increase investment in research and development and plans to raise 20 billion yuan, of which about 8 billion yuan will be used for the development of new energy models or the upgrading of some existing models; About 3 billion yuan will be used for forward-looking technology research and development projects related to new energy technologies. However, after its listing on the Science and Technology Innovation Board failed, Geely said it would seek external financing.</p><p>At the end of November last year, SAIC and Ali jointly established the pure electric vehicle brand \"Zhiji Automobile\". The first round of financing reached 10 billion yuan, which also became a new car project with the first round of financing reaching 10 billion yuan.</p><p><b>While hoarding food and grass, recruiting troops. Since the beginning of this year, the \"war to grab people\" of new energy vehicles has reached a white-hot stage.</b></p><p>Various new car manufacturers began to poach people with high salaries. According to a report released by Liepin in January this year, new energy vehicles have become the fastest growing field for new jobs, with a year-on-year surge of 103.53%. With the entry of new players, the news of grabbing people with an annual salary of millions is endless.</p><p>Recently, Xiaomi announced more than 20 autonomous driving-related positions that need to be \"urgently hired\" on the company's official website; Jidu Automobile plans to reach 2,000-3,000 employees by the end of next year, including 400-500 software engineers.</p><p>Since June, the 360 smart car team has started recruiting, and Zhou Hongyi is in<a href=\"https://laohu8.com/S/WB\">Weibo</a>I personally shouted and welcomed talents in the automotive industry to recommend themselves, saying that the company \"fully liberalizes and fully supports salary and benefits\".</p><p>In April this year, the recruitment of Li Auto R&D Center has started, and the recruitment scale is expected to exceed 2,000 people. XPeng vehicles will also double the number of R&D personnel by the end of 2021.</p><p><b>In addition to the war of poaching people, building factories to expand production capacity and expanding offline stores also requires a large investment.</b></p><p>In order to subvert the traditional 4S stores, new forces such as Nio, Ideal and XPeng have rushed to open offline stores in shopping malls.</p><p>Even Huawei, which has repeatedly emphasized being a supplier to car companies, has joined the store opening army. According to<a href=\"https://laohu8.com/S/00700\">Tencent</a>Shenzhen reported that in order to achieve Yu Chengdong's internal goal of selling 300,000 units next year, Huawei plans to sell cars in 200 experience stores before the end of July and expand to more than 1,000 by the end of the year.</p><p><h2><b>3 </b><b>Why are investors afraid?</b></h2>The car-making movement is like a raging fire, but the investment in car-making projects is like a moth flying to a flame.</p><p><b>Investors have generally calm about car-making projects. A number of PE/VC institutions told good-looking business that they \"dare not invest\", \"cannot afford to invest\", and \"it is too late to enter the market now\".</b></p><p>An industry consensus is that new cars have become a higher-level capital game, with tickets getting more and more expensive, fewer and fewer, and higher and higher risks. Individual entrepreneurs are also not suitable for re-entering the market to build complete vehicles.</p><p>\"Whether it's an early project for a complete vehicle or a new fund investment, it's too late to enter the market at this point,\" a foreign investment institution told Haokan Business. Now there are fewer opportunities and higher investment costs; Even a car-making project with an industrial background depends on the investment cost.</p><p>A local Pe investor even bluntly said, \"I don't look at the whole car, because the plate is too big, I can't afford it, and there are pits in it. In the end, there is a hundred deaths that will be considered good.\"</p><p>\"There were many funds that threw money before and then died in it. Everyone realized that this was a long-term investment.\" An FA organization that pays attention to the automobile track said that including local governments and industrial capital, now they dare to bet There are not many in this industry, because everyone who dared to bet before has already bet.</p><p><b>Even powerful local government funds are a bit \"discouraged\" from investing in new cars.</b></p><p>A person in charge of an enterprise serving local governments to attract investment told Haokan Business, \"Government funds generally hold a negative attitude towards investing in complete vehicle projects. If the smart car projects done by traditional OEMs are more supportive, forget about others, especially for those early vehicle projects, we will be very cautious.\"</p><p>This trend didn't form in a day.</p><p>it Orange has a data of \"nearly 5 quarters\" as of Q3 2020, which shows that among the popular industries with a financing amount of more than 4 billion yuan, there are only 15 financing events of \"new car manufacturing and hardware\", with a total financing amount of 22.744 billion yuan. Far less popular than industries such as biomedicine, medical devices, integrated circuits, food, video, and live broadcast.</p><p><img src=\"https://static.tigerbbs.com/68eb02f4553921a70f6e20ee5b0b9e01\" tg-width=\"834\" tg-height=\"444\" referrerpolicy=\"no-referrer\"></p><p>According to a report released by BAIC Industrial Investment and Zero2IPO Research Center, in fact, since 2016, the proportion of investment in pan-automotive and large travel fields in the equity investment market has been declining, from 27.5% in 2016 to 14% in 2019.</p><p>Entering 2021, there are only a handful of private equity financing cases of new car companies.</p><p>According to public information, in January, Leapao Technology announced Series B financing, amounting to 4.3 billion yuan. Strategic investors include SDIC Chuangyi, Zhejiang University Jiuyonghua Capital, etc. BYTON Automobile restarted and signed a strategic cooperation framework agreement with Foxconn Technology Group and Nanjing Economic and Technological Development Zone.</p><p><b>Investors' \"fear\" of car manufacturing partly comes from the increasingly higher investment risks in the car manufacturing track; Some of them also come from the tragedy of the last round of investment failures.</b></p><p>For example, Jia Yueting's \"LeTV Car Accident\".</p><p>In September and November, 2016, LeTV completed two rounds of financing, with a scale of nearly US $1.7 billion. There are many well-known institutions such as Yingda Capital, Shenzhen Venture Capital and Macrolink Group under the State Grid. However, after LeTV's ecological capital chain was broken, LeTV's automobile investors were deeply trapped.</p><p><img src=\"https://static.tigerbbs.com/01faa1c3bd932212de51a245f42efd85\" tg-width=\"1058\" tg-height=\"216\" referrerpolicy=\"no-referrer\"></p><p>It is unknown whether LeTV has returned the investor's funds at present. Although it is still in existence, it has repeatedly become the executor of dishonesty and is riddled with lawsuits.</p><p>Jiangsu local governments have also stepped on new energy vehicle projects one after another. According to public information, BYTON, Sailin and Bojun Automobile, the new car companies that have given a lot of support in Jiangsu, have fallen into the dilemma of shutdown and bankruptcy after burning 16 billion yuan.</p><p>These \"tragedies\" are enough to discourage investors in the primary market.</p><p><b>In the secondary market, investors still pay high attention to new car stocks.</b></p><p>In Hong Kong stocks, XPeng Motor was nearly 15 times oversubscribed during its IPO.</p><p>In the U.S. stock market, in the two months ending July 7, Nio, XPeng, and Ideal stocks recorded gains of about 70%, 90%, and 100% respectively. Tesla's stock price rose the smallest over the same period, about 5%.</p><p>In A-shares, BYD's stock price has risen by more than 85% in less than 2 months after trading sideways for a period of time.</p><p><img src=\"https://static.tigerbbs.com/a57909782454eb173ac6f6285a6be053\" tg-width=\"1080\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p>An auto analyst from a well-known domestic brokerage mentioned that behind the rise in the stock price of smart car stocks, in addition to the stimulation of soaring performance, they also benefited from the increase in their software service revenue.</p><p>\"If smart electric vehicles can complete the closed loop from complete vehicles to software services and data revenue, the secondary market will not be stingy with giving them high valuations,\" he said.</p><p>The Dolphin Investment Research Team of Longbridge Securities believes that there is no doubt about the broad prospects of smart electric vehicles at present, and the policies of China and the European Union are also very powerful, but competition has escalated into a major risk.</p><p>They believe that the secondary market still pays a lot of attention to smart cars, but it is generally believed that the valuation is also relatively high, so the focus of the secondary market will spread to companies in the automobile industry chain.</p><p><b>While many people are still paying attention to the valuation and risks of new cars, Yan Yan, the founding managing partner of SAIF Asia Investment Fund, has a premonition of the coming of industry reshuffle.</b></p><p>In a recent interview with the media, Yan Yan asserted that the wave of bankruptcy of new car-making forces will not be too far away, and now many companies are dying; Because without tens of billions of investment, cars cannot be built.</p><p>Car-making has now evolved into a movement, and has entered an era of crazy competition for \"money ability\". How can I stay at the poker table?</p><p>There is a prize quiz for this question, and the answer is worth at least 100 billion dollars.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1301423355117957\">好看商业</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5eb0061f36bc078c5f5185507799a8fa","relate_stocks":{"09868":"小鹏汽车-W","NIO":"蔚来","XPEV":"小鹏汽车"},"source_url":"https://36kr.com/p/1301423355117957","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149310828","content_text":"7月7日，小鹏汽车登陆港股，成港交所“智能电动汽车第一股”。\n\n小鹏在港股挂牌，只是“造车三傻”（蔚来、小鹏、理想）闯香港的开始。\n此前，蔚来、理想也传出要在港股上市的消息。\n而多地上市，先美股，再港股，最后上A股，很可能成为“造车三傻”共同的融资路径。\n毕竟，要玩造车这个游戏，钱是多多益善的。\n2021年，造车再次站上风口，百度、小米、滴滴、360等互联网、科技巨头纷纷跨界造车；上汽、吉利这样的传统整车厂也纷纷推出新的智能汽车品牌；华为虽然声称不造车，但也积极投身造车产业，要帮助车企造车。\n相比上一轮明星创业者入局造车，这一波巨头看上去更“狠”一些——他们有更强的资金和资源优势，对造车似乎志在必得。\n无论是有头有脸的明星创业者，还是这一波科技巨头，他们躬身入局造车显然是认真的。\n毕竟，不烧几百亿资金可能都造不出一辆车，而燃油车向电动车过度、传统汽车向智能汽车过度、国产汽车“弯道超车”的多重时代机遇没人愿意错过。\n特斯拉、蔚来、理想、和小鹏这些先行者业绩和市值的飙升也成为更多入局者的信心支撑。\n这一波巨头的入局也让造车变成了更高阶的烧钱游戏，入场的门票越来越贵，越来越少，入场风险也越来越高。\n但与之形成强烈反差的是，投资者已经普遍冷静下来。“投不起、不敢投”成为一级市场很多人的状态。二级市场虽然对新造车关注度很高，但也普遍认为估值比较高了，行业竞争升级成主要风险。\n港股挂牌首日，小鹏以168港元开盘，较发行价略高1.8%，但很快破发，股价最低触及159.3港元，最终以165港元收盘。\n可见，对于智能电动汽车，港股投资人的顾虑已经显现。\n新造车烧钱从未停止，盈利尚未实现，竞争却持续升级。在这个异常比拼“钞能力”的阶段，谁能最终留在牌桌上？\n1 造车新势力为什么拼命融资？\n近两年中概股回港成为趋势，以小鹏汽车为代表的造车新势力也加入了回港大潮。\n这一次，小鹏登陆港股采用的是“双重主要上市”（Dual Primary Listing）的方式。\n与“二次上市”不同，“双重主要上市”是指具有双上市主体，其上市审核更严格，因此更容易被纳入港股通，方便A股投资者参与。这也被视作小鹏汽车为A股上市铺路。\n长桥证券海豚投研团队认为，回港上市能为造车新势力带来这样几点好处：规避在美股的潜在退市风险；丰富融资渠道；扩大企业和产品的影响力。\n去年5月，美国国会参议院批准通过《外国公司问责法案》，该方案被视为主要针对在美上市的中国公司。\n该法案要求，外国发行人连续三年不能满足美国公众公司会计监督委员会对会计师事务所检查要求的，其证券禁止在美交易。\n“美股退市风险比A股高，中概股有时会集体面临信任危机，就可能会触发退市风险，”海豚投研团队认为。\n造车新势力谋求多地上市此前就有预兆。\n今年3月初，路透社曾报道，蔚来汽车、理想汽车和小鹏汽车计划最快今年在香港上市。根据其美股市值推断，预计三家共可筹资50亿美元。\n5月25日，在发布2021款理想ONE后，理想汽车创始人李想公开表示，“未来不介意任何方式去获得更多的资金储备”，不排斥从二级市场融资、银行贷款和发债等方式获取资金。\n其实短期来看，三家新造车公司的账上都不缺钱。截至今年一季度末，蔚来、小鹏和理想的资金储备分别为：475.5亿元，362亿元、303.6亿元。\n\n但烧钱从未停止，盈利尚未开始。账上的几百亿资金，还不能给他们足够的安全感。\n他们要花钱的地方还有很多。海豚投研分析，智能车技术路线的不成熟导致研发投入压力大；颠覆商业模式也需要配合直营的销售模式，展厅和销售人员的成本，这些都使得造车新势力想实现毛利率转正本身就比较困难。同时他们还面临产品和人才的激烈竞争。\n一家互联网券商的高管提到，造车新势力在多地上市应该是一开始就设计好的方案，因为造车的资金需求量太大，先上美股，再回港股，下一步可能就要寻求A股IPO，且这个顺序不能反过来，因为如果首次上市放在国内，他们的状况很容易卡住，等不起。\n今年以来，三家新造车公司均通过推出新车型、升级配套软件、扩充服务和销售网络等方式来做大规模。研发投入更是大头，2021年他们都将重金投入研发，蔚来和理想分别明确今年会豪掷50亿元、30亿元作为研发费用。\n而从盈利状况来看，虽然在2020财年三家公司的毛利率均已转正，但整体仍处于亏损之中。今年Q1三家车企合计净亏损超过15亿元。\n\n想实现真正的盈利，需要更大规模的交付量。对于盈利预期，率先在港上市的小鹏预计在2023年底或2024年实现收支平衡。\n在谋求多地上市之前，三家新造车公司已经在美股多次通过增发股票融资。\n2020年12月4日，理想汽车申请增发4700万美国存托股，据当时的估算，如果承销商行使超额配售权，总计将筹得约18.41亿美元。同年12月7日，小鹏通过美股增发，最多融资21.6亿美元，为中概股史上最大规模的首次股票增发。\n蔚来在过去一年内完成三次美股增发，前两次分别融资4.9亿美元和17.3亿美元；去年12月14日的增发最大募集金额为30.5亿美元。\n尽管不断多渠道吸金，新造车公司对资金的焦虑不减。小鹏在港股招股书中做出风险提示——“企业目前仍在产生亏损和负经营现金流，这一情况可能还会持续一段时间”。\n相比头部的三家公司，二线新造车品牌更是挣扎在温饱边缘。\n新造车公司在一级市场的融资变得越来越困难。在新造车公司和传统主机厂的双重夹击下，二线新造车品牌纷纷将融资希望寄托在二级市场。\n今年4月，恒大汽车在港股定增筹资260亿港元。此外，恒大汽车、哪吒汽车、爱驰汽车、零跑汽车和天际汽车均希望登陆科创板融资。\n但科创板“汽车第一股”至今难产。不久前，威马汽车在科创板的IPO受阻，这也为其它二线新造车品牌的上市蒙上阴影。\n2 巨头进场，竞争是如何升级的？\n造车新势力为什么焦虑？\n很显然，新造车赛道已经变成了大玩家的比拼——传统整车厂、科技巨头、跨界巨头们各显神通。\n这些公司或有供应链优势，或有资金实力，或有技术积淀，或兼具多种优势，在“块头”上往往比造车新势力更大更猛。\n巨头进场，也让新造车行业的“钞能力”比拼被拉升到新的段位。\n在资金实力上，无论是自掏腰包，还是外部融资，各家都在紧密扩充粮草弹药。\n\n好看商业根据公开信息制图\n今年3月，百度与吉利合资成立了智能汽车公司集度汽车。其CEO夏一平称，在第一款车推出后，计划未来五年投资规模约500亿元。\n他还表示，“对外融资是一定要做的事，计划今年第三季度会做对外融资”。\n把造车视为创业生涯最后一次豪赌的雷军，也一改往常的俭朴姿态，放话“小米不差钱、亏得起”，并宣布10年投资100亿美元造车，首期投资100亿元人民币。\n\n周鸿祎和他的360不想错过这场汽车革命。但360并不是亲自造车，而是通过入股哪吒汽车，试水为车企提供安全技术的可行性。\n在战略领投了哪吒汽车的30亿元D轮融资后，360或成哪吒汽车的第二大股东。短期内，360主要为为哪吒汽车输出360的安全系统。据周鸿祎计划，哪吒只是360的样本，未来为更多车企提供安全技术。\n创维集团董事长、同时也是开沃新能源汽车董事长的黄宏生宣布，创维汽车目前已经投入100亿元，建立起商乘两用的体系；未来再还将再投资300亿元。\n更早入局造车的恒大汽车则展现了一贯的“壕无人性”。\n2020年报显示，他们正在同步研发14款车；在新能源汽车产业已累计总投入474亿元，其中249亿元用于收购核心技术和研发费用，225亿元用于车厂建设、设备采购、汽车零部件采购等。\n在整车厂阵营，比亚迪、吉利汽车与上汽集团也加大了新能源车的投入。\n比亚迪是目前汽车行业内唯一在新能源汽车全产业链布局的公司。2018-2020三年间，比亚迪每年的研发金额均超过80亿元，三年总计投入约250亿。\n在爆款车型——“比亚迪*汉”拉动其新能源销量后，比亚迪还将在动力电池、DMI混动系统和软件系统上发力。\n此前在新能源上发展缓慢的吉利汽车，希望通过新品牌吉利极氪001打场翻身仗。吉利极氪001于上海车展首次亮相，并计划今年Q4交付。这款车由吉利SEA浩瀚智能架构一手打造。为打造这款智能架构平台，吉利耗时4年，投入超过180亿元。\n公开数据显示，吉利在新能源研发及产业已投入超300亿元。在寻求科创板上市的招股书中，吉利称还将加大研发投入，拟募资200亿元，其中约80亿元用于新能源新车型开发或现有部分车型的升级换代；约30亿元用于新能源技术相关的前瞻技术研发项目。不过，在科创板上市折戟后，吉利表示将寻求外部融资。\n去年11月底，上汽联合阿里合资成立了纯电汽车品牌“智己汽车”，首轮融资达到100亿人民币，这也成为新造车里首轮融资就达到100亿元的项目。\n一边囤积粮草，一边招兵买马。今年以来，新能源汽车汽车“抢人大战”已至白热化阶段。\n各个新造车玩家开始高薪挖人。猎聘今年1月发布的报告显示，新能源汽车已经成为新发职位增长最快领域，同比激增103.53%。随着新玩家入场，年薪几百万抢人的消息不绝于耳。\n近日，小米于公司官网发布20余个需要“急聘”的自动驾驶相关岗位；集度汽车计划明年年底达到2000人-3000人的规模，其中包括400-500名软件工程师。\n6月以来，360智能汽车团队开启招聘，周鸿祎在微博亲自吆喝，欢迎汽车界人才自荐，称公司“在薪酬待遇方面全面放开、全力支持”。\n今年4月，理想汽车上海研发中心招聘已经启动，预计招聘规模超过2000人。小鹏汽车到2021年底研发人员数量也将翻倍。\n除挖人大战外，建厂扩充产能、扩充线下门店也需要投入大笔资金。\n为颠覆传统的4S店，蔚来、理想和小鹏等新势力，已经在购物中心争相开线下店。\n即便是反复强调做车企供应商的华为，也加入到开店大军中。据腾讯深网报道，为实现余承东内部敲定明年销售30万台的目标，华为计划7月底前在200家体验店卖车，年底拓展到1000家以上。\n3 投资人为什么怕了？\n造车运动如烈火烹油，造车项目的投资却像飞蛾扑火。\n投资人对造车项目已普遍冷静。多家PE/VC机构对好看商业表示，“不敢投”、“投不起”、“现在进场太晚了”。\n一个业界的共识是，新造车已成为一个更高阶的资本游戏，入场的门票越来越贵，越来越少，风险越来越高。个人创业者也不适合再入场造整车。\n“无论是做整车的早期项目、还是基金新入局投资，这个点进场都太晚了，”一家外资投资机构告诉好看商业，现在机会少了，投资的成本也更高了；即便是有产业背景的造车项目，也要看投资成本。\n一位本土Pe投资人甚至直言，“我不看整车，因为盘子太大、投不起、里头都是坑，最后有个百死一生都算好的。”\n“之前有很多基金都撒了钱，然后死在里面了，大家都意识到这是一个长期投资的事情” 一家关注汽车赛道的FA机构称，包括地方政府、产业资本在内，现在敢赌这个行业的不多了，因为之前敢赌的都已经赌过了。\n即便是实力雄厚的地方政府基金，对投资新造车也有点“望而却步”。\n一家服务于地方政府招商引资的企业负责人告诉好看商业，“政府基金对投资整车项目普遍持消极态度。如果是传统整车厂做的智能汽车项目还比较支持，其它的就算了，特别是对那些早期的整车项目，会非常谨慎”。\n这个趋势也不是一天形成的。\nit桔子有一份截至2020年Q3的“近5个季度”的数据，其中显示，融资额超过40亿元的热门行业里，“新车制造及硬件”融资事件只有15起，融资总额227.44亿元，远不及生物医药、医疗器械、集成电路、美食、视频、直播这样的行业热门。\n\n北汽产投联合清科研究中心发布的一份报告显示，其实2016年以来，泛汽车与大出行领域投资金额占股权投资市场比重就在下滑，从2016年的27.5%下降为2019年的14%。\n进入2021年，新造车公司的私募融资案更是例屈指可数。\n据公开信息，1月份，零跑科技公布 B 轮融资，金额 43 亿元，战略投资方包括国投创益、浙大九涌铧资本等。拜腾汽车重启，与富士康科技集团、南京经济技术开发区签署战略合作框架协议。\n投资人对造车的“畏惧感”，部分来自造车赛道的投资风险越来越高；还有部分来自上一轮投资失败的惨案。\n比如贾跃亭的“乐视汽车事故”。\n2016年9月11月，乐视分别完成两轮融资，规模近17亿美金，投资方不乏国家电网旗下的英大资本、深创投、新华联集团等知名机构。但乐视生态资金链断裂后，乐视汽车投资方被深套。\n\n乐视汽车目前是否已退还投资方资金不得而知。虽然仍在存续状态，但其已经多次成为失信被执行人，官司缠身。\n江苏地方政府也曾在新能源汽车项目上接连踩雷。据公开信息，江苏给予诸多支持的新造车公司拜腾、赛麟和博郡汽车烧光160亿之后，纷纷陷入关停、倒闭的困局。\n这些“惨案”足以让一级市场投资人望而却步。\n在二级市场，投资人对新造车股票依然有较高关注度。\n在港股，小鹏汽车的IPO招股期间获得近15倍超额认购。\n在美股，截至7月7日的2个月里，蔚来、小鹏、理想的股票分别录得约70%、90%和100%的涨幅。同期特斯拉的股价涨幅最小，约为5%。\n在A股，比亚迪股价在横盘一段时间后，过去不到2个月时间里涨超85%。\n\n国内知名券商的一位汽车分析师提到，智能汽车股股价上涨背后，除了业绩飙升的刺激，还受益于他们软件服务营收的增加。\n“如果智能电动汽车可以完成从整车到软件服务、数据收入的闭环，二级市场是不会吝啬给他们高估值的”，他说。\n长桥证券海豚投研团队认为，智能电动汽车的广阔前景目前是没有质疑的，中国、欧盟等的政策也很给力，但竞争升级成主要风险。\n他们认为，二级市场对智能汽车的关注度仍然很高，但目前普遍认为估值也比较高了，所以二级市场的关注点会扩散到汽车产业链上的公司。\n当很多人还在关注新造车的估值和风险时，赛富亚洲投资基金创始管理合伙人阎焱已经预感到了行业洗牌的来临。\n阎焱近日接受媒体采访时断言：造车新势力的倒闭潮不会太远，现在很多家已经奄奄一息了；因为没有几百亿的投资，车造不出来。\n造车如今已经演变成一场运动，并步入疯狂比拼“钞能力”的时代。怎么才能留在牌桌上呢？\n这个问题有奖竞猜，答案至少价值千亿美金。","news_type":1,"symbols_score_info":{"09868":0.9,"XPEV":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":2418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}