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Diaschy86
Diaschy86
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2025-02-24
$Sea Ltd(SE)$
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Diaschy86
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2024-01-24
$Alzamend Neuro, Inc(ALZN)$
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Diaschy86
Diaschy86
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2022-03-13
Te's
Where will the market go under geopolitical turmoil and the epidemic?
投资要点本周话题：地缘动荡与疫情下，市场将何去何从?1) 地缘因素短期内仍将支撑大宗商品价格高位震荡，俄乌冲突的演进态势将决定大宗商品价格上涨的可持续性。短期内，俄乌危机大概率难以解决。地缘政治风险
Where will the market go under geopolitical turmoil and the epidemic?
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Diaschy86
Diaschy86
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2022-01-01
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Diaschy86
Diaschy86
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2021-12-29
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Diaschy86
Diaschy86
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2021-12-28
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Slots may become history, Apple's next "non-porous" goal may be it
据报道，近期有分析师预测苹果可能会在部分国家和地区尝试推出没有实体SIM卡的iPhone，使用eSIM技术，具体将从iPhone 15 Pro开始。 而最新消息显示，该转变可能会提前。目前，苹果已经建
Slots may become history, Apple's next "non-porous" goal may be it
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Diaschy86
Diaschy86
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2021-12-27
666
The next generation of EUV lithography is about to break out
随着先进制程芯片上量（包括逻辑芯片和存储器），芯片制造端的高技术含量规模也在不断扩大，其中，最具代表性的就是EUV光刻机，市场对其需求在未来几年将大幅增加。 ASML预期今年EUV设备出货量有望达到5
The next generation of EUV lithography is about to break out
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Diaschy86
Diaschy86
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2021-12-25
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Diaschy86
Diaschy86
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2021-12-24
666
Tesla's German Gigafactory is expected to achieve mass production in 2022
眼下，特斯拉只需扫清最后的障碍。
Tesla's German Gigafactory is expected to achieve mass production in 2022
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Diaschy86
Diaschy86
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2021-12-23
666
205,000 U.S. initial jobless claims last week
12月23日，美国上周首次申领失业救济人数为20.5万人，预估为20.5万人，前值为20.6万人。 机构评美国上周初请失业金人数数据：美国上周初请失业金人数变动不大，暗示随着就业市场继续复苏，裁员人数
205,000 U.S. initial jobless claims last week
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href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$ </a> ","listText":"<a href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$ </a> ","text":"$Sea Ltd(SE)$","images":[{"img":"https://community-static.tradeup.com/news/92f0b2db4b2d39c8e1dfceaafba87dbc","width":"972","height":"1631"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/406728960508208","isVote":1,"tweetType":1,"viewCount":2011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":266340718932216,"gmtCreate":1706060126332,"gmtModify":1706060128650,"author":{"id":"3582212677594923","authorId":"3582212677594923","name":"Diaschy86","avatar":"https://static.tigerbbs.com/023e36d76d8f4434c4ca55ea9d316933","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582212677594923","idStr":"3582212677594923"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/ALZN\">$Alzamend Neuro, Inc(ALZN)$</a> ","listText":"<a href=\"https://ttm.financial/S/ALZN\">$Alzamend Neuro, Inc(ALZN)$</a> ","text":"$Alzamend Neuro, Inc(ALZN)$","images":[{"img":"https://community-static.tradeup.com/news/fac309e092d9017849dcaac89453333e","width":"927","height":"1599"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/266340718932216","isVote":1,"tweetType":1,"viewCount":2766,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9036528519,"gmtCreate":1647145666607,"gmtModify":1676534198743,"author":{"id":"3582212677594923","authorId":"3582212677594923","name":"Diaschy86","avatar":"https://static.tigerbbs.com/023e36d76d8f4434c4ca55ea9d316933","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582212677594923","idStr":"3582212677594923"},"themes":[],"htmlText":"Te's","listText":"Te's","text":"Te's","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036528519","repostId":"2219424094","repostType":4,"repost":{"id":"2219424094","kind":"highlight","pubTimestamp":1647141612,"share":"https://ttm.financial/m/news/2219424094?lang=en_US&edition=fundamental","pubTime":"2022-03-13 11:20","market":"us","language":"zh","title":"Where will the market go under geopolitical turmoil and the epidemic?","url":"https://stock-news.laohu8.com/highlight/detail?id=2219424094","media":"智通财经网","summary":"投资要点本周话题：地缘动荡与疫情下，市场将何去何从?1) 地缘因素短期内仍将支撑大宗商品价格高位震荡，俄乌冲突的演进态势将决定大宗商品价格上涨的可持续性。短期内，俄乌危机大概率难以解决。地缘政治风险","content":"<p><html><head></head><body>Investment Key Points</p><p><b>This week's topic: Where will the market go under geopolitical turmoil and epidemic situation?</b></p><p>1) Geopolitical factors will still support high volatility in commodity prices in the short term, and the evolution of the Russia-Ukraine conflict will determine the sustainability of rising commodity prices. In the short term, the Russia-Ukraine crisis is likely to be difficult to resolve. Geopolitical risks will continue to affect market sentiment, expectations of supply tightening will increase, and related commodity prices will remain high. Even if some countries choose to put pressure on the rise of commodities by increasing production or looking for alternative energy sources in the future, the difficulty in changing the supply and demand pattern in the short term limits the decline in commodity prices. Taken together, under the premise of long-term geopolitical turmoil, commodity prices are likely to remain at a high level.</p><p>2) The Fed's more hawkish than expected may put pressure on high-valuation sectors. In the context of high inflation in the United States and geopolitical conflicts exacerbating the inflation dilemma, the Fed's policy adjustment is likely to be a foregone conclusion. However, the recent continued fermentation of geopolitical risks may affect the future U.S. economic growth prospects, which will also lead the Fed to be more cautious and flexible in monetary policy decisions. Before U.S. stocks, the U.S. economy, and inflation fall sharply, the Fed's hawkish statements will continue to exceed expectations. Even if the pace of rate hike slows down in the short term, the overall tightening is likely to exceed expectations. Judging from the recent signals released by the Federal Reserve, March may tend to be 25bp instead of 50bp in rate hike, but there is a high probability that the shrinking balance sheet time will be advanced, and the possibility of starting a \"shrinking balance sheet\" in the second quarter cannot be ruled out.</p><p>3) The domestic epidemic disturbance strengthens the configuration logic of \"both offensive and defensive\". Recently, the domestic epidemic has spread, and the overseas novel coronavirus pneumonia epidemic is high. With a large proportion of Omicron infections in neighboring countries and regions, the pressure of domestic prevention and control is expected to further increase. Under repeated epidemics, the recovery of consumption has weakened. Assuming that stronger epidemic prevention and control measures are taken in the future, the role of exports in stimulating the economy may also be weakened this year. The weakness of consumption and exports may put more serious pressure on the economic downturn in the short term, but in the medium term, there is a high probability that it will guide policies to increase support for stabilizing growth. It will take time for the market to recover, but the end of the adjustment may be approaching.</p><p>4) Which industry segments are revising their earnings estimates upwards?: The upstream is strong, and the middle and lower reaches are under pressure. March-April is a good time window to observe industries with high prosperity throughout the year. At present, the market in March has begun to gradually reflect the performance expectations of the first quarterly report. In the middle and late April, the market will enter a period of intensive disclosure of the annual report and the first quarterly report results. The market often has the seasonal characteristics of \"spring restlessness and April decision-making\". After the annual report and the first quarterly report results are disclosed, the market will generally adjust the profit forecast of listed companies. At present, the market has always been divided on \"whether the efforts to stabilize growth are effective\", so by looking for marginal changes in profit forecasts, we try to find out which companies' steady growth recovery is sustainable, and how the fundamentals are expected to change.</p><p>Key points of investment: Still focusing on low-valuation blue chips, it is recommended to pay attention to domestic substitution, military industry, anti-epidemic and gold sectors. Against the background that geopolitical conflicts have caused shocks in the global capital market, the sharp rise in market risk aversion, and the momentum of domestic epidemic situation has not yet been curbed in many places, investment opportunities of low-valued blue chips are still the most stable main line in the market. Although the overall valuation of growth stocks is subject to rising inflation, in terms of specific allocation, the following breakdowns are still worthy of attention: 1) Demand for domestic substitution in the entire West: This crisis has made the relationship between the EU, Japan, South Korea and the United Kingdom and the United States closer. From the perspective of supply chain security, except for the United States, the domestic substitution of key components from the entire Western major alliance may accelerate in the future. 3) For epidemic prevention items in medicine, considering the transmission ability of new viruses, in addition to nucleic acid testing, ventilators, etc., focus on new vaccines such as mRNA. 4) Risk aversion affects the market, overseas inflation remains high, and geopolitical conflicts superimpose the global economy. In the downturn, it is recommended to pay attention to the allocation value of the gold sector.</p><p>Risk warning: Geopolitical turmoil has intensified, the domestic Omicron epidemic has broken out more than expected, the Federal Reserve's monetary policy and domestic monetary policy liquidity have tightened more than expected, and the public information used in the research report may have lagging information or untimely updates.</p><p>text</p><p><b>This week's topic: Where will the market go under geopolitical turmoil and the epidemic?</b></p><p><b>1.1 Geopolitical factors will still support commodity prices in the short term</b></p><p>Recently, geopolitical risks have continued to stir up the market. Due to the particularity of Russia and Ukraine in the pricing of some global resource products, disputes between the two countries may lead commodity prices upward. Except for crude oil, whose price is already at historically high levels, the prices of agrochemical products and non-ferrous metals have generally risen. The spillover effects of the Russia-Ukraine conflict have also spread to the international logistics market, and shipping prices have risen. The reason is that in addition to geopolitical conflicts that have further aggravated the originally tight supply situation of energy, crops and metals, it also includes transportation obstructions and market expectations caused by Western countries' sanctions and restrictions on Russia.</p><p>The current geopolitical conflict is not over yet, and market expectations mainly follow the changes in the situation between Russia and Ukraine and quickly reflect the trend of commodity prices. On March 9, the situation between Russia and Ukraine showed initial signs of easing, which had a significant impact on the capital market. On that day, oil prices and non-ferrous metal prices fell sharply. However, the collective decline in commodity prices actually reflects more changes in sentiment than improvements in fundamentals. Therefore, it is too early to assert that the \"price increase tide\" is coming to an end. Recently, although the VIX index has fallen, it is still at a high level. We can see that the market risk aversion has not completely eased.</p><p>As mentioned earlier, the evolution of the Russia-Ukraine conflict will determine the sustainability of rising commodity prices. The current prospect of the conflict between Russia and Ukraine is also unclear. Judging from the multiple rounds of negotiations between Russia and Ukraine and the information disclosed by both parties since then, Russia and Ukraine have a tough stance and have not yet reached an agreement on a ceasefire agreement. Moreover, NATO countries frequently send weapons and equipment to Ukraine. It also hinders the easing of the conflict. In the short term, the Russia-Ukraine crisis is likely to be difficult to resolve. Geopolitical risks will continue to affect market sentiment, and increasing expectations of tightening supply will push up related commodity prices. Even if some countries choose to put pressure on the rise of commodities in the future by increasing production (such as some OPEC members stating that they will increase crude oil production) or looking for alternative energy sources (the EU proposes to accelerate the promotion of renewable energy), the supply and demand pattern will be difficult to change in the short term. The extent to which commodity prices fell. Taken together, under the premise of long-term geopolitical turmoil, commodity prices are likely to remain at a high level.</p><p><img src=\"https://static.tigerbbs.com/b4cdd2ef4d240452ced73725f02ac3e5\" tg-width=\"1080\" tg-height=\"450\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/9ff090db7fa96fcbb78bd9fdbdf8219b\" tg-width=\"1066\" tg-height=\"780\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>1.2 The Fed's more hawkish than expected may put pressure on high-valuation sectors</b></p><p>Against the background of high inflation in the United States and geopolitical conflicts exacerbating the inflation dilemma, the Fed's policy adjustment may be a foregone conclusion. On March 10, data released by the U.S. Department of Labor showed that the U.S. CPI rose by 7.9% year-on-year in February, a 40-year high, and the core CPI growth rate rose to 6.4% year-on-year. Considering that commodity prices may remain high due to the disturbance of geopolitical conflicts, there is a possibility that high inflation in the U.S. economy will be difficult to alleviate in the short term. The severe inflation situation has strengthened the need for the Fed to tighten monetary policy. The unexpected recovery in employment in March also provided more room for the Fed to shift its monetary policy. On the whole, the Fed's policy adjustment may be a foregone conclusion.</p><p>Since December last year, the Federal Reserve has frequently released rate hike signals, mainly due to the continued recovery of the U.S. economy and the most urgent pressure on inflation. However, the recent continued fermentation of geopolitical risks may affect the future U.S. economic growth prospects, which will also lead the Federal Reserve to be more cautious and flexible in monetary policy decisions.</p><p>Before U.S. stocks, the U.S. economy, and inflation fall sharply, there is a high probability that the Fed's hawkish statement will continue to exceed expectations. Although geopolitical conflicts may inhibit the future economic growth of the United States to a certain extent, the basic principles of economic normalization have not changed, and inflation is currently high. The Fed's top priority is still to strengthen the guidance of inflation expectations by maintaining a hawkish policy stance. Even if the pace of rate hike slows down in the short term, the overall tightening is likely to exceed expectations. Earlier, Powell released a clearer signal about the pace and intensity of tightening in his testimony on the semi-annual monetary policy report at a congressional hearing. In terms of the magnitude of rate hike, the Federal Reserve may prefer the March rate hike of 25bp instead of 50bp, but the shrinking balance sheet time will most likely be advanced, and the possibility of starting a \"shrinking balance sheet\" in the second quarter cannot be ruled out.</p><p><img src=\"https://static.tigerbbs.com/a1b7eacdc1fe87b4aa08a15685d974a3\" tg-width=\"1078\" tg-height=\"446\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>1.3 Domestic epidemic disturbance strengthens the configuration logic of \"both offensive and defensive\"</b></p><p>Recently, the domestic epidemic situation has spread in many places. The number of reported COVID-19 infections nationwide continues to remain high, and the number of provinces involved in the epidemic continues to increase. The main infection strains are Omicron variants. As of March 9, 31 provinces (autonomous regions and municipalities directly under the Central Government) and Xinjiang Production and Construction Corps reported 402 new local confirmed cases and 435 local asymptomatic infections. There is a new feature in this round of epidemic, that is, since the 6th, the number of new local asymptomatic infections in a single day has been higher than the number of new local cases for four consecutive days.</p><p>The Omicron variant spreads faster and has milder symptoms of infection than other variants, so punctate sporadic or even local outbreaks are more likely to occur. With the high incidence of overseas novel coronavirus pneumonia epidemics, with a large proportion of Omicron infections in neighboring countries and regions, domestic prevention and control pressure is expected to further increase. Under the direction of epidemic recovery, the demand for epidemic prevention, epidemic control and other related products will remain high, and funds will mostly flow to ventilators, special vaccines, special drugs and other tracks.</p><p>Under repeated epidemics, the recovery of consumption has weakened. In addition to the lack of scenarios caused by prevention and control restrictions, which dragged down consumption, the epidemic also inhibited residents' spending power and willingness, which was reflected in the fact that residents' income and expenditure grew at the same rate before the epidemic, and the gap after the epidemic widened significantly. At present, consumption recovery is the general trend under the policy of stabilizing growth, but when the epidemic has not been fully controlled, consumption recovery is weakening.</p><p>Assuming that stronger epidemic prevention and control measures are taken in the future, the role of exports in stimulating the economy may also be weakened this year. In the past two years, the high export boom has been one of the most important driving forces supporting my country's economic resilience. However, as economies around the world gradually adapt to the \"normalization of the epidemic\", after June 2021, my country's global export share has returned to 14%, the pre-epidemic level. As overseas supply chains may enter a trend recovery, coupled with the rise in my country's labor costs, export growth may be weak and under increasing pressure.</p><p>The weakness of consumption and exports will put more serious pressure on the economic downturn in the short term, but in the medium term, it may guide policies to increase support for stabilizing growth. It will take time for the market to recover, but the end of the adjustment may be approaching.</p><p><img src=\"https://static.tigerbbs.com/a59f2a3c0a40eadb62b670af68dcdbb2\" tg-width=\"1063\" tg-height=\"402\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/528312a622c08c7c81d9aaf8023457a9\" tg-width=\"1071\" tg-height=\"418\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>1.4 Which industry segments are revising their earnings estimates upwards?: Strong upstream, pressure on midstream and downstream</b></p><p>March-April is a good time window to observe industries with high prosperity throughout the year. At present, the market in March has begun to gradually reflect the performance expectations of the first quarterly report. In the middle and late April, the market will enter a period of intensive disclosure of the annual report and the first quarterly report results. The market often has the seasonal characteristics of \"spring restlessness and April decision-making\". After the annual report and the first quarterly report results are disclosed, the market will generally adjust the profit forecast of listed companies. At present, the market has always been divided on \"whether the efforts to stabilize growth are effective\", so by looking for marginal changes in profit forecasts, we try to find out which companies' steady growth recovery is sustainable, and how the fundamentals are expected to change.</p><p>Overall, the upstream is strong, while the middle and lower reaches are under pressure. The industries with raised profit forecasts in 22 years are mainly in the infrastructure industry chain, new energy vehicle industry chain and pharmaceutical sector. Primary industries that have increased in the past two months: non-ferrous metals (2.87%), basic chemicals (1.04%), electricity and public utilities (0.84%), steel (0.71%), etc.</p><p>Upstream: The areas where raw material profits in the upstream sector have increased focus on infrastructure-related industries, among which rare metals, environmentally friendly public utilities, and chemical raw materials have increased. On the other hand, domestic economic and financial data from January to February will also be released, which will become an important basis for the market to judge the effect of \"steady growth\" in the early stage and predict the rhythm and intensity of subsequent policies. With the layout of \"steady growth\" and long-term high-quality development, the prosperity related to infrastructure is expected to continue.</p><p>In the midstream industry, the upward revision of profit forecasts focuses on subdivided tracks with high demand and prosperity, such as new energy batteries, automotive electronics, lithium batteries/photovoltaics/semiconductor equipment, and the prosperity continues to remain high. Profit forecasts for semiconductors, electronic components, and computer equipment in the TMT sector have been raised. At the same time, profit expectations in the field of special machinery in machinery and equipment have also continued to rise. In mid-to-late March, on the one hand, the prosperity indicators of popular tracks, such as the sales of new energy vehicles, are released one after another. The prosperity expectations of popular tracks in the current market are quite different, and relevant data will become an important signal to confirm the prosperity. On the other hand, the prosperity of conceptual fields in subdivided fields such as semiconductor equipment, cloud computing, and optical communications may have a reversal trend.</p><p>Among downstream consumption, the profit forecasts of commerce, agriculture and medical services, and medical circulation sectors have been significantly raised. Affected by the dual impact of cost pressure and the setback on the demand side caused by the recurrence of the epidemic, the growth rate of the food and beverage industry has slowed down, and the internal performance of the consumer sector has also shown significant differentiation. Compared with the profit downward adjustment in 21 years, the expected reversal of trade and retail has obviously been reversed, and the profit forecast in 22 years has been raised by about 20%. There is still no obvious upward revision in the performance of must-select consumption. In the overall consumption, the profit expectation of optional is still better than that of must-select. However, in the short term, some varieties of grain, including agricultural chemicals, are affected by the war between Russia and Ukraine, and price increases are expected to be relatively strong. Affected by this geopolitical conflict, global related<a href=\"https://laohu8.com/S/000061\">Agricultural products</a>The price is at a high level, which may boost the prosperity of agricultural products, and at the same time affect the expectation of live pig prices. This aspect deserves continuous observation.</p><p><b>1.5 Investment points: Still focusing on low-valuation blue chips, it is recommended to pay attention to domestic substitution, military industry, anti-epidemic, and gold sectors</b></p><p>Under the background that geopolitical conflicts have triggered shocks in the global capital market, market risk aversion has risen sharply, and the spread of domestic epidemics in many places has not been contained. Investment opportunities in low-valued blue chips are still the most stable main line of the market. Although the overall valuation of growth stocks is subject to rising inflation, in terms of specific allocation, the following breakdown is still worthy of attention:</p><p>1) Demand for domestic substitution in the entire West: This crisis has caused the EU, Japan and South Korea to completely fall towards and bind the United Kingdom and the United States. From the perspective of supply chain security, except for the United States, the rest come from key components in the entire Western alliance. Domestic substitution may accelerate in the future. It is recommended to pay attention to: semiconductor upstream materials, Huawei chip-related software ecology, etc.</p><p>2) With the display of Western modern equipment during the war, the increasing nuclear deterrence and military industry of both sides, especially the OEMs that benefited from the final year of the three-year pilot reform of state-owned enterprises this year, deserve special attention.</p><p>3) For epidemic prevention items in medicine, considering the transmission ability of the virus, in addition to nucleic acid testing, ventilators, etc., focus on new vaccines such as mRNA.</p><p>4) Risk aversion affects the market, overseas inflation remains high, and geopolitical conflicts are superimposed on the global economic downturn. It is recommended to pay attention to the allocation value of the gold sector.</p><p><b>Market Review and Outlook</b></p><p>Style index: Market conditions generally fell this week. The CSI 500 and small and medium-sized board index led the decline. In terms of activity, the turnover rate of various industries generally rebounded, and the turnover rate of Shenzhen Component Index increased significantly.</p><p>Major industries: Healthcare and daily consumption performed relatively well this week, while optional consumption and real estate performed relatively sluggish. In terms of activity, the energy turnover rate dropped significantly, and the healthcare turnover rate rebounded significantly.</p><p>Primary industries: Primary industries generally fell this week, led by home appliances and non-ferrous metals. In terms of activity, the turnover rate of medicine and media has rebounded relatively significantly, while the turnover rate of national defense and military industries has declined.</p><p><img src=\"https://static.tigerbbs.com/8b77bbe4f011209d0f61398519d4b870\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/2d58f4dc49d2ba695c284f3f2b140070\" tg-width=\"988\" tg-height=\"739\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Three sentiment indicator tracking</b></p><p>Market-wide activity: Since 2010, the average daily turnover rate of all A has been roughly 0.4%-1.4%. After smoothing on the 20th, the turnover rate of all A dropped slightly this week. As of March 11, the single-day turnover rate reached 1.36%, which is 82.43% of the historical quantile. The turnover rate range of GEM is roughly 2%-8%. After smoothing on the 20th, the turnover rate of GEM fluctuates and rises. As of March 11, 2022, the single-day turnover rate of the GEM is 13.50%, which is 90.6% of the historical quantile.</p><p><img src=\"https://static.tigerbbs.com/f91bd77cd124660b4b931da83a84f0e2\" tg-width=\"1065\" tg-height=\"410\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>On-site financing: The financing balance rebounded slightly this week. As of March 10, the financing balance was 1,619.4 billion yuan, a decrease of 8.63 billion yuan from last week. On the 5th, after smoothing, the proportion of financing purchases in the total market turnover decreased by-0.2% compared with last week.</p><p>Index of sub-new shares: After smoothing on the 5th day, the turnover rate of sub-new shares rebounded slightly compared with last week. As of March 11th, the average turnover rate of sub-new shares on the 5th day reached 9.12%, which was at the historical quantile of 87.14%.</p><p><img src=\"https://static.tigerbbs.com/54b3f83e23e7b8c86169632226e8093d\" tg-width=\"1067\" tg-height=\"415\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Four valuation indicator tracking</b></p><p>Valuation of major industries: The valuation levels of basic non-ferrous metals, basic chemicals, power equipment and new energy, national defense and military industry, automobiles, consumer services, food and beverage and electronics industries in PB valuation are higher than the historical average;</p><p>Valuation of major industries: In PE valuation, the valuation level of agriculture, forestry, animal husbandry and fishery, food and beverage, public utilities, leisure services, electrical equipment, automobiles and comprehensive industries is higher than the historical average;</p><p>Industries with PE valuation and PB valuation at historically high levels: the valuation levels of food and beverage and automobile industries are higher than the historical average;</p><p>Main indexes: PB valuation SSE 50, GEM index valuation level is higher than historical average;</p><p>Main index: PE valuation SSE 50, the valuation level of small and medium-sized board index is higher than the historical average;</p><p>PE valuation and PB valuation are both at historically high indexes: the valuation level of SSE 50 is higher than the historical average;</p><p><img src=\"https://static.tigerbbs.com/26c307f1db2feea63e70afad6a756a4d\" tg-width=\"1069\" tg-height=\"411\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Risk warning: Geopolitical turmoil has intensified, the domestic Omicron epidemic has broken out more than expected, the Federal Reserve's monetary policy and domestic monetary policy liquidity have tightened more than expected, and the public information used in the research report may have lagging information or untimely updates.</p><p></body></html></p>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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: 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\">\nWhere will the market go under geopolitical turmoil and the epidemic?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2022-03-13 11:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Investment Key Points</p><p><b>This week's topic: Where will the market go under geopolitical turmoil and epidemic situation?</b></p><p>1) Geopolitical factors will still support high volatility in commodity prices in the short term, and the evolution of the Russia-Ukraine conflict will determine the sustainability of rising commodity prices. In the short term, the Russia-Ukraine crisis is likely to be difficult to resolve. Geopolitical risks will continue to affect market sentiment, expectations of supply tightening will increase, and related commodity prices will remain high. Even if some countries choose to put pressure on the rise of commodities by increasing production or looking for alternative energy sources in the future, the difficulty in changing the supply and demand pattern in the short term limits the decline in commodity prices. Taken together, under the premise of long-term geopolitical turmoil, commodity prices are likely to remain at a high level.</p><p>2) The Fed's more hawkish than expected may put pressure on high-valuation sectors. In the context of high inflation in the United States and geopolitical conflicts exacerbating the inflation dilemma, the Fed's policy adjustment is likely to be a foregone conclusion. However, the recent continued fermentation of geopolitical risks may affect the future U.S. economic growth prospects, which will also lead the Fed to be more cautious and flexible in monetary policy decisions. Before U.S. stocks, the U.S. economy, and inflation fall sharply, the Fed's hawkish statements will continue to exceed expectations. Even if the pace of rate hike slows down in the short term, the overall tightening is likely to exceed expectations. Judging from the recent signals released by the Federal Reserve, March may tend to be 25bp instead of 50bp in rate hike, but there is a high probability that the shrinking balance sheet time will be advanced, and the possibility of starting a \"shrinking balance sheet\" in the second quarter cannot be ruled out.</p><p>3) The domestic epidemic disturbance strengthens the configuration logic of \"both offensive and defensive\". Recently, the domestic epidemic has spread, and the overseas novel coronavirus pneumonia epidemic is high. With a large proportion of Omicron infections in neighboring countries and regions, the pressure of domestic prevention and control is expected to further increase. Under repeated epidemics, the recovery of consumption has weakened. Assuming that stronger epidemic prevention and control measures are taken in the future, the role of exports in stimulating the economy may also be weakened this year. The weakness of consumption and exports may put more serious pressure on the economic downturn in the short term, but in the medium term, there is a high probability that it will guide policies to increase support for stabilizing growth. It will take time for the market to recover, but the end of the adjustment may be approaching.</p><p>4) Which industry segments are revising their earnings estimates upwards?: The upstream is strong, and the middle and lower reaches are under pressure. March-April is a good time window to observe industries with high prosperity throughout the year. At present, the market in March has begun to gradually reflect the performance expectations of the first quarterly report. In the middle and late April, the market will enter a period of intensive disclosure of the annual report and the first quarterly report results. The market often has the seasonal characteristics of \"spring restlessness and April decision-making\". After the annual report and the first quarterly report results are disclosed, the market will generally adjust the profit forecast of listed companies. At present, the market has always been divided on \"whether the efforts to stabilize growth are effective\", so by looking for marginal changes in profit forecasts, we try to find out which companies' steady growth recovery is sustainable, and how the fundamentals are expected to change.</p><p>Key points of investment: Still focusing on low-valuation blue chips, it is recommended to pay attention to domestic substitution, military industry, anti-epidemic and gold sectors. Against the background that geopolitical conflicts have caused shocks in the global capital market, the sharp rise in market risk aversion, and the momentum of domestic epidemic situation has not yet been curbed in many places, investment opportunities of low-valued blue chips are still the most stable main line in the market. Although the overall valuation of growth stocks is subject to rising inflation, in terms of specific allocation, the following breakdowns are still worthy of attention: 1) Demand for domestic substitution in the entire West: This crisis has made the relationship between the EU, Japan, South Korea and the United Kingdom and the United States closer. From the perspective of supply chain security, except for the United States, the domestic substitution of key components from the entire Western major alliance may accelerate in the future. 3) For epidemic prevention items in medicine, considering the transmission ability of new viruses, in addition to nucleic acid testing, ventilators, etc., focus on new vaccines such as mRNA. 4) Risk aversion affects the market, overseas inflation remains high, and geopolitical conflicts superimpose the global economy. In the downturn, it is recommended to pay attention to the allocation value of the gold sector.</p><p>Risk warning: Geopolitical turmoil has intensified, the domestic Omicron epidemic has broken out more than expected, the Federal Reserve's monetary policy and domestic monetary policy liquidity have tightened more than expected, and the public information used in the research report may have lagging information or untimely updates.</p><p>text</p><p><b>This week's topic: Where will the market go under geopolitical turmoil and the epidemic?</b></p><p><b>1.1 Geopolitical factors will still support commodity prices in the short term</b></p><p>Recently, geopolitical risks have continued to stir up the market. Due to the particularity of Russia and Ukraine in the pricing of some global resource products, disputes between the two countries may lead commodity prices upward. Except for crude oil, whose price is already at historically high levels, the prices of agrochemical products and non-ferrous metals have generally risen. The spillover effects of the Russia-Ukraine conflict have also spread to the international logistics market, and shipping prices have risen. The reason is that in addition to geopolitical conflicts that have further aggravated the originally tight supply situation of energy, crops and metals, it also includes transportation obstructions and market expectations caused by Western countries' sanctions and restrictions on Russia.</p><p>The current geopolitical conflict is not over yet, and market expectations mainly follow the changes in the situation between Russia and Ukraine and quickly reflect the trend of commodity prices. On March 9, the situation between Russia and Ukraine showed initial signs of easing, which had a significant impact on the capital market. On that day, oil prices and non-ferrous metal prices fell sharply. However, the collective decline in commodity prices actually reflects more changes in sentiment than improvements in fundamentals. Therefore, it is too early to assert that the \"price increase tide\" is coming to an end. Recently, although the VIX index has fallen, it is still at a high level. We can see that the market risk aversion has not completely eased.</p><p>As mentioned earlier, the evolution of the Russia-Ukraine conflict will determine the sustainability of rising commodity prices. The current prospect of the conflict between Russia and Ukraine is also unclear. Judging from the multiple rounds of negotiations between Russia and Ukraine and the information disclosed by both parties since then, Russia and Ukraine have a tough stance and have not yet reached an agreement on a ceasefire agreement. Moreover, NATO countries frequently send weapons and equipment to Ukraine. It also hinders the easing of the conflict. In the short term, the Russia-Ukraine crisis is likely to be difficult to resolve. Geopolitical risks will continue to affect market sentiment, and increasing expectations of tightening supply will push up related commodity prices. Even if some countries choose to put pressure on the rise of commodities in the future by increasing production (such as some OPEC members stating that they will increase crude oil production) or looking for alternative energy sources (the EU proposes to accelerate the promotion of renewable energy), the supply and demand pattern will be difficult to change in the short term. The extent to which commodity prices fell. Taken together, under the premise of long-term geopolitical turmoil, commodity prices are likely to remain at a high level.</p><p><img src=\"https://static.tigerbbs.com/b4cdd2ef4d240452ced73725f02ac3e5\" tg-width=\"1080\" tg-height=\"450\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/9ff090db7fa96fcbb78bd9fdbdf8219b\" tg-width=\"1066\" tg-height=\"780\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>1.2 The Fed's more hawkish than expected may put pressure on high-valuation sectors</b></p><p>Against the background of high inflation in the United States and geopolitical conflicts exacerbating the inflation dilemma, the Fed's policy adjustment may be a foregone conclusion. On March 10, data released by the U.S. Department of Labor showed that the U.S. CPI rose by 7.9% year-on-year in February, a 40-year high, and the core CPI growth rate rose to 6.4% year-on-year. Considering that commodity prices may remain high due to the disturbance of geopolitical conflicts, there is a possibility that high inflation in the U.S. economy will be difficult to alleviate in the short term. The severe inflation situation has strengthened the need for the Fed to tighten monetary policy. The unexpected recovery in employment in March also provided more room for the Fed to shift its monetary policy. On the whole, the Fed's policy adjustment may be a foregone conclusion.</p><p>Since December last year, the Federal Reserve has frequently released rate hike signals, mainly due to the continued recovery of the U.S. economy and the most urgent pressure on inflation. However, the recent continued fermentation of geopolitical risks may affect the future U.S. economic growth prospects, which will also lead the Federal Reserve to be more cautious and flexible in monetary policy decisions.</p><p>Before U.S. stocks, the U.S. economy, and inflation fall sharply, there is a high probability that the Fed's hawkish statement will continue to exceed expectations. Although geopolitical conflicts may inhibit the future economic growth of the United States to a certain extent, the basic principles of economic normalization have not changed, and inflation is currently high. The Fed's top priority is still to strengthen the guidance of inflation expectations by maintaining a hawkish policy stance. Even if the pace of rate hike slows down in the short term, the overall tightening is likely to exceed expectations. Earlier, Powell released a clearer signal about the pace and intensity of tightening in his testimony on the semi-annual monetary policy report at a congressional hearing. In terms of the magnitude of rate hike, the Federal Reserve may prefer the March rate hike of 25bp instead of 50bp, but the shrinking balance sheet time will most likely be advanced, and the possibility of starting a \"shrinking balance sheet\" in the second quarter cannot be ruled out.</p><p><img src=\"https://static.tigerbbs.com/a1b7eacdc1fe87b4aa08a15685d974a3\" tg-width=\"1078\" tg-height=\"446\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>1.3 Domestic epidemic disturbance strengthens the configuration logic of \"both offensive and defensive\"</b></p><p>Recently, the domestic epidemic situation has spread in many places. The number of reported COVID-19 infections nationwide continues to remain high, and the number of provinces involved in the epidemic continues to increase. The main infection strains are Omicron variants. As of March 9, 31 provinces (autonomous regions and municipalities directly under the Central Government) and Xinjiang Production and Construction Corps reported 402 new local confirmed cases and 435 local asymptomatic infections. There is a new feature in this round of epidemic, that is, since the 6th, the number of new local asymptomatic infections in a single day has been higher than the number of new local cases for four consecutive days.</p><p>The Omicron variant spreads faster and has milder symptoms of infection than other variants, so punctate sporadic or even local outbreaks are more likely to occur. With the high incidence of overseas novel coronavirus pneumonia epidemics, with a large proportion of Omicron infections in neighboring countries and regions, domestic prevention and control pressure is expected to further increase. Under the direction of epidemic recovery, the demand for epidemic prevention, epidemic control and other related products will remain high, and funds will mostly flow to ventilators, special vaccines, special drugs and other tracks.</p><p>Under repeated epidemics, the recovery of consumption has weakened. In addition to the lack of scenarios caused by prevention and control restrictions, which dragged down consumption, the epidemic also inhibited residents' spending power and willingness, which was reflected in the fact that residents' income and expenditure grew at the same rate before the epidemic, and the gap after the epidemic widened significantly. At present, consumption recovery is the general trend under the policy of stabilizing growth, but when the epidemic has not been fully controlled, consumption recovery is weakening.</p><p>Assuming that stronger epidemic prevention and control measures are taken in the future, the role of exports in stimulating the economy may also be weakened this year. In the past two years, the high export boom has been one of the most important driving forces supporting my country's economic resilience. However, as economies around the world gradually adapt to the \"normalization of the epidemic\", after June 2021, my country's global export share has returned to 14%, the pre-epidemic level. As overseas supply chains may enter a trend recovery, coupled with the rise in my country's labor costs, export growth may be weak and under increasing pressure.</p><p>The weakness of consumption and exports will put more serious pressure on the economic downturn in the short term, but in the medium term, it may guide policies to increase support for stabilizing growth. It will take time for the market to recover, but the end of the adjustment may be approaching.</p><p><img src=\"https://static.tigerbbs.com/a59f2a3c0a40eadb62b670af68dcdbb2\" tg-width=\"1063\" tg-height=\"402\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/528312a622c08c7c81d9aaf8023457a9\" tg-width=\"1071\" tg-height=\"418\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>1.4 Which industry segments are revising their earnings estimates upwards?: Strong upstream, pressure on midstream and downstream</b></p><p>March-April is a good time window to observe industries with high prosperity throughout the year. At present, the market in March has begun to gradually reflect the performance expectations of the first quarterly report. In the middle and late April, the market will enter a period of intensive disclosure of the annual report and the first quarterly report results. The market often has the seasonal characteristics of \"spring restlessness and April decision-making\". After the annual report and the first quarterly report results are disclosed, the market will generally adjust the profit forecast of listed companies. At present, the market has always been divided on \"whether the efforts to stabilize growth are effective\", so by looking for marginal changes in profit forecasts, we try to find out which companies' steady growth recovery is sustainable, and how the fundamentals are expected to change.</p><p>Overall, the upstream is strong, while the middle and lower reaches are under pressure. The industries with raised profit forecasts in 22 years are mainly in the infrastructure industry chain, new energy vehicle industry chain and pharmaceutical sector. Primary industries that have increased in the past two months: non-ferrous metals (2.87%), basic chemicals (1.04%), electricity and public utilities (0.84%), steel (0.71%), etc.</p><p>Upstream: The areas where raw material profits in the upstream sector have increased focus on infrastructure-related industries, among which rare metals, environmentally friendly public utilities, and chemical raw materials have increased. On the other hand, domestic economic and financial data from January to February will also be released, which will become an important basis for the market to judge the effect of \"steady growth\" in the early stage and predict the rhythm and intensity of subsequent policies. With the layout of \"steady growth\" and long-term high-quality development, the prosperity related to infrastructure is expected to continue.</p><p>In the midstream industry, the upward revision of profit forecasts focuses on subdivided tracks with high demand and prosperity, such as new energy batteries, automotive electronics, lithium batteries/photovoltaics/semiconductor equipment, and the prosperity continues to remain high. Profit forecasts for semiconductors, electronic components, and computer equipment in the TMT sector have been raised. At the same time, profit expectations in the field of special machinery in machinery and equipment have also continued to rise. In mid-to-late March, on the one hand, the prosperity indicators of popular tracks, such as the sales of new energy vehicles, are released one after another. The prosperity expectations of popular tracks in the current market are quite different, and relevant data will become an important signal to confirm the prosperity. On the other hand, the prosperity of conceptual fields in subdivided fields such as semiconductor equipment, cloud computing, and optical communications may have a reversal trend.</p><p>Among downstream consumption, the profit forecasts of commerce, agriculture and medical services, and medical circulation sectors have been significantly raised. Affected by the dual impact of cost pressure and the setback on the demand side caused by the recurrence of the epidemic, the growth rate of the food and beverage industry has slowed down, and the internal performance of the consumer sector has also shown significant differentiation. Compared with the profit downward adjustment in 21 years, the expected reversal of trade and retail has obviously been reversed, and the profit forecast in 22 years has been raised by about 20%. There is still no obvious upward revision in the performance of must-select consumption. In the overall consumption, the profit expectation of optional is still better than that of must-select. However, in the short term, some varieties of grain, including agricultural chemicals, are affected by the war between Russia and Ukraine, and price increases are expected to be relatively strong. Affected by this geopolitical conflict, global related<a href=\"https://laohu8.com/S/000061\">Agricultural products</a>The price is at a high level, which may boost the prosperity of agricultural products, and at the same time affect the expectation of live pig prices. This aspect deserves continuous observation.</p><p><b>1.5 Investment points: Still focusing on low-valuation blue chips, it is recommended to pay attention to domestic substitution, military industry, anti-epidemic, and gold sectors</b></p><p>Under the background that geopolitical conflicts have triggered shocks in the global capital market, market risk aversion has risen sharply, and the spread of domestic epidemics in many places has not been contained. Investment opportunities in low-valued blue chips are still the most stable main line of the market. Although the overall valuation of growth stocks is subject to rising inflation, in terms of specific allocation, the following breakdown is still worthy of attention:</p><p>1) Demand for domestic substitution in the entire West: This crisis has caused the EU, Japan and South Korea to completely fall towards and bind the United Kingdom and the United States. From the perspective of supply chain security, except for the United States, the rest come from key components in the entire Western alliance. Domestic substitution may accelerate in the future. It is recommended to pay attention to: semiconductor upstream materials, Huawei chip-related software ecology, etc.</p><p>2) With the display of Western modern equipment during the war, the increasing nuclear deterrence and military industry of both sides, especially the OEMs that benefited from the final year of the three-year pilot reform of state-owned enterprises this year, deserve special attention.</p><p>3) For epidemic prevention items in medicine, considering the transmission ability of the virus, in addition to nucleic acid testing, ventilators, etc., focus on new vaccines such as mRNA.</p><p>4) Risk aversion affects the market, overseas inflation remains high, and geopolitical conflicts are superimposed on the global economic downturn. It is recommended to pay attention to the allocation value of the gold sector.</p><p><b>Market Review and Outlook</b></p><p>Style index: Market conditions generally fell this week. The CSI 500 and small and medium-sized board index led the decline. In terms of activity, the turnover rate of various industries generally rebounded, and the turnover rate of Shenzhen Component Index increased significantly.</p><p>Major industries: Healthcare and daily consumption performed relatively well this week, while optional consumption and real estate performed relatively sluggish. In terms of activity, the energy turnover rate dropped significantly, and the healthcare turnover rate rebounded significantly.</p><p>Primary industries: Primary industries generally fell this week, led by home appliances and non-ferrous metals. In terms of activity, the turnover rate of medicine and media has rebounded relatively significantly, while the turnover rate of national defense and military industries has declined.</p><p><img src=\"https://static.tigerbbs.com/8b77bbe4f011209d0f61398519d4b870\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/2d58f4dc49d2ba695c284f3f2b140070\" tg-width=\"988\" tg-height=\"739\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Three sentiment indicator tracking</b></p><p>Market-wide activity: Since 2010, the average daily turnover rate of all A has been roughly 0.4%-1.4%. After smoothing on the 20th, the turnover rate of all A dropped slightly this week. As of March 11, the single-day turnover rate reached 1.36%, which is 82.43% of the historical quantile. The turnover rate range of GEM is roughly 2%-8%. After smoothing on the 20th, the turnover rate of GEM fluctuates and rises. As of March 11, 2022, the single-day turnover rate of the GEM is 13.50%, which is 90.6% of the historical quantile.</p><p><img src=\"https://static.tigerbbs.com/f91bd77cd124660b4b931da83a84f0e2\" tg-width=\"1065\" tg-height=\"410\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>On-site financing: The financing balance rebounded slightly this week. As of March 10, the financing balance was 1,619.4 billion yuan, a decrease of 8.63 billion yuan from last week. On the 5th, after smoothing, the proportion of financing purchases in the total market turnover decreased by-0.2% compared with last week.</p><p>Index of sub-new shares: After smoothing on the 5th day, the turnover rate of sub-new shares rebounded slightly compared with last week. As of March 11th, the average turnover rate of sub-new shares on the 5th day reached 9.12%, which was at the historical quantile of 87.14%.</p><p><img src=\"https://static.tigerbbs.com/54b3f83e23e7b8c86169632226e8093d\" tg-width=\"1067\" tg-height=\"415\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Four valuation indicator tracking</b></p><p>Valuation of major industries: The valuation levels of basic non-ferrous metals, basic chemicals, power equipment and new energy, national defense and military industry, automobiles, consumer services, food and beverage and electronics industries in PB valuation are higher than the historical average;</p><p>Valuation of major industries: In PE valuation, the valuation level of agriculture, forestry, animal husbandry and fishery, food and beverage, public utilities, leisure services, electrical equipment, automobiles and comprehensive industries is higher than the historical average;</p><p>Industries with PE valuation and PB valuation at historically high levels: the valuation levels of food and beverage and automobile industries are higher than the historical average;</p><p>Main indexes: PB valuation SSE 50, GEM index valuation level is higher than historical average;</p><p>Main index: PE valuation SSE 50, the valuation level of small and medium-sized board index is higher than the historical average;</p><p>PE valuation and PB valuation are both at historically high indexes: the valuation level of SSE 50 is higher than the historical average;</p><p><img src=\"https://static.tigerbbs.com/26c307f1db2feea63e70afad6a756a4d\" tg-width=\"1069\" tg-height=\"411\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Risk warning: Geopolitical turmoil has intensified, the domestic Omicron epidemic has broken out more than expected, the Federal Reserve's monetary policy and domestic monetary policy liquidity have tightened more than expected, and the public information used in the research report may have lagging information or untimely updates.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/676392.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{"159934":"黄金ETF","161125":"标普500","399001":"深证成指","510030":"价值ETF","SPXU":"三倍做空标普500ETF-ProShares","IVV":"标普500ETF-iShares","OEF":"标普100指数ETF-iShares","NUGT":"二倍做多黄金矿业指数ETF-Direxion",".IXIC":"NASDAQ Composite","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","BK4559":"巴菲特持仓","000300.SH":"沪深300","GLD":"黄金ETF-SPDR","BK4550":"红杉资本持仓","DXD":"两倍做空道琼30指数ETF-ProShares","09939":"开拓药业-B",".SPX":"S&P 500 Index","UDOW":"三倍做多道指30ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","SPY":"标普500ETF","YXI":"ProShares做空FTSE中国50ETF","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","SH":"做空标普500-Proshares","XPP":"二倍做多富时中国50ETF(ProShares)","SDOW":"三倍做空道指30ETF-ProShares","DJX":"1/100道琼斯","000016.SH":"上证50","FXP":"二倍做空富时中国50ETF-ProShares","OEX":"标普100","GDX":"黄金矿业ETF-VanEck","BK4534":"瑞士信贷持仓","BK1574":"生物医药B类股","DDM":"2倍做多道指ETF-ProShares","SQQQ":"纳指三倍做空ETF","IAU":"黄金信托ETF-iShares","QQQ":"纳指100ETF","TQQQ":"纳指三倍做多ETF","DUST":"二倍做空黄金矿业指数ETF-Direxion",".DJI":"道琼斯"},"source_url":"http://www.zhitongcaijing.com/content/detail/676392.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2219424094","content_text":"投资要点本周话题：地缘动荡与疫情下，市场将何去何从?1) 地缘因素短期内仍将支撑大宗商品价格高位震荡，俄乌冲突的演进态势将决定大宗商品价格上涨的可持续性。短期内，俄乌危机大概率难以解决。地缘政治风险将持续影响市场情绪，供给收紧预期增强，相关大宗商品价格持续高位。即使部分国家在未来选择以增产或者寻找替代能源的方式对大宗商品涨势施压，但短期内供需格局难变限制了大宗商品价格回落幅度。综合来看，在地缘动荡长期化的前提下，大宗商品价格大概率维持在高位运行。2) 美联储超预期鹰派或使高估值板块承压。在美国通胀高企叠加地缘冲突加剧通胀困境的背景下，美联储政策调整大概率已成定局，但近期地缘政治风险持续发酵或影响未来美国经济增长前景也将导致美联储在货币政策决策上更加谨慎和灵活。在美股、美国经济、通胀出现大幅下滑前，美联储鹰派表述将持续超预期。即便短期内加息节奏放缓，但整体收紧力度大概率超预期。就近期美联储释放的信号来看，3月或倾向于加息25bp而非50bp，但缩表时间大概率会提前，不排除在二季度开启“缩表”的可能性。3) 国内疫情扰动强化“攻守兼备”配置逻辑。近日，国内疫情蔓延，境外新冠肺炎疫情高发，伴随周边国家地区大比例的奥密克戎感染，国内防控压力预计会进一步增加。疫情反复下，消费复苏趋弱。假设未来采取更强的疫情防控措施，今年出口对经济拉动作用也或弱化。消费及出口的疲软短期或对经济下行构成更加严重压力，但是从中期来看，大概率将引导政策面加大稳增长支持力度。市场修复仍待时日，但调整尾声或已渐行渐近。4) 哪些行业细分正在向上修正盈利预测?：上游强劲，中下游承压。3-4月是很好的观察全年高景气行业的时间窗口。当前3月的市场已经开始逐步反应一季报的业绩预期，4 月中下旬市场将进入年报及一季报业绩的密集披露期，市场往往有“春季躁动，四月决断”的季节性特征，在年报及一季报业绩披露后，市场会普遍调整对上市公司的盈利预测。而市场目前对“稳增长发力是否有效”的分歧一直存在，所以我们通过寻找盈利预测边际变化，试图寻找哪些公司的稳增长复苏具备持续性，以及基本面的预期变化情况如何。投资要点：仍以低估值蓝筹为主线，建议关注国产替代、军工、抗疫、黄金板块。地缘冲突引发全球资本市场震荡，市场避险情绪急剧升温以及国内疫情多地散发势头尚未遏制住的背景下，低估值蓝筹的投资机会仍为市场最稳健的主线。成长股方面虽然整体估值受制于通胀上升，就具体配置而言，如下细分仍值得关注：1) 对于整个西方的国产替代需求：本次危机，使得欧盟、日韩与英美关系更加密切，就供应链安全角度而言，除美国外，其余来自于整个西方大联盟的关键零部件的国产替代或将在未来加速，建议关注：半导体上游材料，华为芯片相关的软件生态等，2)伴随战争过程中西方现代化装备的展现，不断增加的双方核威慑，军工，特别是今年受益于国企改革三年试点收官年的主机厂值得重点关注。3)医药当中防疫物品，考虑到新病毒的传播能力，除核酸检测、呼吸机等外，重点关注mRNA等新疫苗，4)避险情绪影响市场，海外通胀居高不下，地缘冲突叠加全球经济下行，建议关注黄金板块的配置价值。风险提示：地缘动荡事件加剧，国内Omicron疫情超预期爆发，美联储货币政策及国内货币政策流动性超预期收紧，研究报告使用的公开资料可能存在信息滞后或更新不及时的情况。正文一 本周话题：地缘动荡与疫情下，市场将何去何从?1.1 地缘因素短期内仍将支撑大宗商品价格近期，地缘政治风险持续搅动市场。由于俄乌在全球部分资源品定价中的特殊性，两国纷争或将引导大宗商品价格上行。除价格已经处于历史高位的原油外，农化产品、有色金属价格普涨。俄乌冲突带来的外溢效应也波及到了国际物流市场，航运价格攀升。究其原因，除了地缘冲突进一步加剧了原本紧张的能源、农作物及金属供应形势以外，还包括西方国家对俄制裁限制带来的运输受阻及市场预期恐慌。现下地缘冲突仍未结束，市场预期主要跟随俄乌局势变化波动并快速反映大宗商品价格走势上。3月9日，俄乌局势初现缓和迹象已经对资本市场产生明显影响，该日油价、有色金属价格大幅重挫。但此次大宗商品价格集体回落实际上更多的是反映了情绪面的变化而非基本面的改善，因此此时断言“涨价潮”趋于结束还为时尚早。近日，VIX指数虽有所下跌但仍处高位水平，我们可以看出，市场避险情绪尚未完全缓和。如前所述，俄乌冲突的演进态势将决定大宗商品价格上涨的可持续性。当前俄乌冲突前景亦未明朗，从俄乌多轮谈判以及此后双方所披露的情况看，俄乌双方立场强硬，目前仍未就停火协议达成一致意见，且北约国家频频输送武器装备至乌克兰，也为冲突缓和造成阻碍。短期内，俄乌危机大概率难以解决。地缘政治风险将持续影响市场情绪， 供给收紧预期增强推高相关大宗商品价格。即使部分国家在未来选择以增产(如OPEC部分成员国表态增产原油)或者寻找替代能源(欧盟提议加速推广可再生能源)的方式对大宗商品涨势施压，但短期内供需格局难变限制了大宗商品价格回落幅度。综合来看，在地缘动荡长期化的前提下，大宗商品价格大概率维持在高位运行。1.2 美联储超预期鹰派或致高估值板块承压在美国通胀高企叠加地缘冲突加剧通胀困境的背景下，美联储政策调整或已成定局。3月10日，美国劳工部发布的数据显示,美国2月CPI同比上涨7.9%,涨幅创40年来新高，核心CPI同比增速升至6.4%。考虑到地缘冲突扰动下大宗商品价格或维持高位，短期内美国经济存在高通胀难以缓解的可能性。通胀形势严峻强化了美联储收紧货币政策的必要性，3月就业超预期复苏也为美联储货币政策转向提供更大的操作空间，综合来看，美联储政策调整或已成定局。自去年12月开始，美联储频频释放加息信号，主要是基于美国经济持续修复以及通胀面临的压力最为紧迫。但近期地缘政治风险持续发酵或影响未来美国经济增长前景也将导致美联储在货币政策决策上更加谨慎和灵活。在美股、美国经济、通胀出现大幅下滑前，美联储鹰派表述大概率将持续超预期。尽管地缘冲突可能会在一定程度上抑制美国未来经济增长，但经济正常化的基本原理尚未改变，且目前通胀居高难下，美联储的当务之急仍是通过维持鹰派政策立场强化对通胀预期的引导。即便短期内加息节奏放缓，但整体收紧力度大概率超预期。此前鲍威尔在国会听证会就半年度货币政策报告作证词中释放了关于紧缩节奏与力度更清晰的信号。从加息幅度上来说，美联储或倾向于3月加息25bp而非50bp，但缩表时间大概率会提前，不排除在二季度开启“缩表”的可能性。1.3 国内疫情扰动强化“攻守兼备”配置逻辑近日，国内疫情多点散发。全国报告新冠感染者继续维持高位，疫情涉及省份持续增多，感染毒株以Omicron变异株为主。截至3月9日，31个省(自治区、直辖市)和新疆生产建设兵团报告新增本土确诊病例402例，本土无症状感染者435例。此轮疫情中有一个新特点，即从6日以来，连续四天本土无症状感染者单日新增数都高于新增本土病例数。奥密克戎变异株传播速度更快且感染症状较其他变异株更轻微，因此点状散发甚至局部爆发更容易出现。境外新冠肺炎疫情高发，伴随周边国家地区大比例的奥密克戎感染，国内防控压力预计会进一步增加。疫情修复方向下，防疫、治疫等相关产品需求将维持高位，资金多流向呼吸机、特效疫苗、特效药等赛道。疫情反复下，消费复苏趋弱。除了防控限制引发的场景缺失拖累消费外，疫情同样对居民的消费能力和意愿产生抑制，体现为疫情前居民收入和支出增速相当、疫后差距明显拉大。目前，消费修复是稳增长政策发力下的大势所趋，但在疫情尚未完全控制住的情况下，消费复苏趋弱。假设未来采取更强的疫情防控措施，今年出口对经济拉动作用也或弱化。过去两年，出口高景气是支撑我国经济韧性最重要的动能之一，但在全球各经济体逐渐适应“疫情常态化”的背景下，2021年6月后，我国出口占全球份额已回到14%，这一疫情之前的水平。随着海外供应链或进入趋势性恢复，叠加我国人力成本的走高，出口增长或乏力且承压渐增。消费及出口的疲软短期内会对经济下行构成更加严重压力，但是从中期来看，或将引导政策面加大稳增长支持力度。市场修复仍待时日，但调整尾声或已渐行渐近。1.4 哪些行业细分正在向上修正盈利预测?：上游强劲，中下游承压3-4月是很好的观察全年高景气行业的时间窗口。当前3月的市场已经开始逐步反应一季报的业绩预期，4 月中下旬市场将进入年报及一季报业绩的密集披露期，市场往往有“春季躁动，四月决断”的季节性特征，在年报及一季报业绩披露后，市场会普遍调整对上市公司的盈利预测。而市场目前对“稳增长发力是否有效”的分歧一直存在，所以我们通过寻找盈利预测边际变化，试图寻找哪些公司的稳增长复苏具备持续性，以及基本面的预期变化情况如何。整体来看，上游强劲，中下游承压。22年盈利预测上调的行业主要在基建产业链、新能源车产业链及医药板块。近2个月调涨的一级行业：有色金属(2.87%)，基础化工(1.04%)，电力及公用(0.84%)，钢铁(0.71%)等。上游：上游领域的原材料盈利上调的领域聚焦在基建相关产业，其中，稀有金属、环保公用、化学原料调涨。另一方面，国内1-2 月经济、金融数据也将公布，并成为市场判断前期“稳增长”效果以及预判后续政策节奏和力度的重要依据，稳增长主线再次强调下，短期“稳增长”及长期高质量发展的布局，基建相关景气度有望延续。中游行业中，盈利预测上修集中在需求高景气的细分赛道，如新能源电池、汽车电子、锂电/光伏/半导体设备，景气度持续维持高位。TMT板块中半导体、电子零组件、计算机设备的盈利预测调涨。同时，机械设备中专用机械领域盈利预期也持续上调。3 月中下旬，一方面，热门赛道景气度指标，如新能源车销量陆续发布，当前市场的热门赛道景气度预期分歧较大，相关数据将成为景气确认的重要信号。另一方面，半导体设备、云计算、光通信这些细分领域的概念领域景气度或有反转的趋势。下游消费中，商贸、农业及医疗服务、医疗流通板块的盈利预测明显上调。受成本压力及疫情复发导致需求端受挫的双重影响，食品饮料行业增速放缓，消费板块内部业绩表现也出现明显的分化。商贸零售相对于21年的盈利下调出现明显的预期反转，22年盈利预测上调20%左右。必选消费业绩仍没有看到明显的上修，整体消费中，可选的盈利预期仍好于必选。但是 短期，粮食部分品种、包括农用化工受俄乌战火的影响，涨价预期比较强烈，受这种地缘冲突的影响，全球相关农产品价格在高位，这可能对农产品景气度有所助推，同时影响生猪价格的预期，这方面值得持续的观察。1.5 投资要点：仍以低估值蓝筹为主线，建议关注国产替代、军工、抗疫、黄金板块地缘冲突引发全球资本市场震荡，市场避险情绪急剧升温以及国内疫情多地散发势头尚未遏制住的背景下，低估值蓝筹的投资机会仍为市场最稳健的主线。成长股方面虽然整体估值受制于通胀上升，就具体配置而言，但如下细分仍值得关注：1) 对于整个西方的国产替代需求：本次危机，使得欧盟、日韩彻底倒向并绑定英美，就供应链安全角度而言，除美国外，其余来自于整个西方大联盟的关键零部件的国产替代或将在未来加速，建议关注：半导体上游材料，华为芯片相关的软件生态等。2) 伴随战争过程中西方现代化装备的展现，不断增加的双方核威慑，军工，特别是今年受益于国企改革三年试点收官年的主机厂值得重点关注。3)医药当中防疫物品，考虑到病毒的传播能力，除核酸检测、呼吸机等外，重点关注mRNA等新疫苗。4)避险情绪影响市场，海外通胀居高不下，地缘冲突叠加全球经济下行，建议关注黄金板块的配置价值。二 市场回顾及展望风格指数：本周市场行情普跌。中证500、中小板指领跌。活跃度方面，各行业换手率普遍回升，深证成指换手率上升明显。大类行业：本周医疗保健、日常消费相对表现亮眼，可选消费、房地产相对表现低迷。活跃度方面，能源换手率明显回落，医疗保健换手率明显回升。一级行业：本周一级行业普跌，家电、有色金属领跌。活跃度方面，医药、传媒换手率回升相对明显，国防军工换手率有所下滑。三 情绪指标跟踪全市场活跃度：2010年以来，全A日均换手率区间大致为0.4%-1.4%。20日平滑后本周全A换手率小幅下降。截止3月11日，单日换手率达到1.36%，处于历史分位的82.43%。创业板指换手率区间大致为2%-8%，20日平滑后创业板指换手率震荡上升。截止2022年3月11日，创业板单日换手率为13.50%，处于历史分位的90.6%。场内融资：本周融资余额小幅回升，截止3月10日，融资余额为16194亿元，较上周减少86.30亿。5日平滑后融资买入额占全市场成交额的比重较上周下降-0.2%。次新股指标：5日平滑后次新股换手率较上周小幅回升，截止3月11日，5日次新股换手率均值达到9.12%，处于历史分位87.14%。四 估值指标跟踪主要行业估值： PB估值中基有色金属、基础化工、电力设备及新能源、国防军工、汽车、消费者服务、食品饮料和电子行业估值水平高于历史均值;主要行业估值：PE估值中农林牧渔、食品饮料、公用事业、休闲服务、电器设备、汽车和综合行业估值水平高于历史均值;PE估值、PB估值均处在历史高位的行业：食品饮料、汽车行业估值水平高于历史均值;主要指数：PB估值上证50、创业板指估值水平高于历史均值;主要指数：PE估值上证50、中小板指估值水平高于历史均值;PE估值、PB估值均处在历史高位的指数：上证50估值水平高于历史均值;风险提示：地缘动荡事件加剧，国内Omicron疫情超预期爆发，美联储货币政策及国内货币政策流动性超预期收紧，研究报告使用的公开资料可能存在信息滞后或更新不及时的情况。","news_type":1,"symbols_score_info":{"159934":0.6,"161125":0.6,"399001":0.9,"510030":0.6,"PSQ":0.6,"SDOW":0.6,"DDM":0.6,"IAU":0.6,"NUGT":0.6,"QID":0.6,"UDOW":0.6,"ESmain":0.6,"MNQmain":0.6,"DOG":0.6,".IXIC":0.9,"NQmain":0.6,"SSO":0.6,"SPXU":0.6,"SQQQ":0.6,"FXP":0.6,"DJX":0.6,"YXI":0.6,"GCmain":0.9,"MGCmain":0.6,"IVV":0.6,"GLD":0.6,"UPRO":0.6,"CNmain":0.9,"QLD":0.6,"OEX":0.6,"GDX":0.6,"QQQ":0.6,"DXD":0.6,"000300.SH":0.6,"09939":0.9,"000016.SH":0.6,"SPY":0.9,".DJI":0.9,"SGUmain":0.6,"SH":0.6,"OEF":0.6,"TQQQ":0.6,".SPX":0.6,"XPP":0.6,"DUST":0.6,"SGCmain":0.6}},"isVote":1,"tweetType":1,"viewCount":2827,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003649107,"gmtCreate":1640972513219,"gmtModify":1676533560054,"author":{"id":"3582212677594923","authorId":"3582212677594923","name":"Diaschy86","avatar":"https://static.tigerbbs.com/023e36d76d8f4434c4ca55ea9d316933","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582212677594923","idStr":"3582212677594923"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003649107","repostId":"2195412025","repostType":4,"isVote":1,"tweetType":1,"viewCount":2506,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009436851,"gmtCreate":1640751398534,"gmtModify":1676533539119,"author":{"id":"3582212677594923","authorId":"3582212677594923","name":"Diaschy86","avatar":"https://static.tigerbbs.com/023e36d76d8f4434c4ca55ea9d316933","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582212677594923","idStr":"3582212677594923"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009436851","repostId":"2194634480","repostType":4,"isVote":1,"tweetType":1,"viewCount":3606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009210455,"gmtCreate":1640685339136,"gmtModify":1676533534040,"author":{"id":"3582212677594923","authorId":"3582212677594923","name":"Diaschy86","avatar":"https://static.tigerbbs.com/023e36d76d8f4434c4ca55ea9d316933","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582212677594923","idStr":"3582212677594923"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009210455","repostId":"1118962717","repostType":4,"repost":{"id":"1118962717","kind":"news","pubTimestamp":1640684731,"share":"https://ttm.financial/m/news/1118962717?lang=en_US&edition=fundamental","pubTime":"2021-12-28 17:45","market":"us","language":"zh","title":"Slots may become history, Apple's next \"non-porous\" goal may be it","url":"https://stock-news.laohu8.com/highlight/detail?id=1118962717","media":"华尔街见闻","summary":"据报道，近期有分析师预测苹果可能会在部分国家和地区尝试推出没有实体SIM卡的iPhone，使用eSIM技术，具体将从iPhone 15 Pro开始。\n而最新消息显示，该转变可能会提前。目前，苹果已经建","content":"<p>According to reports, some analysts recently predicted that Apple may try to launch iPhones without physical SIM cards in some countries and regions, using eSIM technology, specifically starting with the iPhone 15 Pro.</p><p>The latest news shows that the shift may be advanced. Currently, Apple has advised several major U.S. carriers to prepare for eSIM-only smartphones to be released in September 2022.</p><p>According to the report, at present, the whole mobile phone industry recognizes non-porosity to improve the overall integrity of mobile phones. Apple has not surprisingly played a vanguard role in this direction. First, it replaced the physical buttons on the front with linear motors to simulate touch, and also led the wave of removing the 3.5 mm headphone jack. By the way, it also used AirPods to create a potential scale of 100 billion. The true wireless headphone market.</p><p>Removing the physical card slot is expected to further improve the dustproof and waterproof performance of the whole machine.</p><p><b>What is an eSIM card and what are the advantages?</b></p><p>An eSIM card, also known as an embedded SIM card, embeds a traditional SIM card directly into the device chip instead of being added to the device as an independent removable component. Take the mobile phone calling card as an example. Now, if our mobile phone wants to make a phone call, we need to go to the business hall to buy a calling card and insert it. However, if it is an eSIM card, it is not necessary, because it itself is in the chip.</p><p>Compared with traditional SIM, eSIM has the advantages of small size, low cost, convenience, flexibility, security, cross-regional deployment and remote management.</p><p>Specifically, the highly integrated eSIM solution can first solve the problem that the SIM card slot takes up a lot of mobile phone space. Although the SIM card is already very small now, the card slot will still restrict the appearance design and battery capacity of mobile phones or wearables as mobile phones become thinner and lighter.</p><p>In addition, the SIM card slot also affects the waterproof performance of the phone, while eSIM is integrated inside the phone and does not need to be slotted on the body, which can improve the waterproof level of the phone.</p><p>With the eSIM solution, each mobile terminal can independently use the mobile network to surf the Internet and even make phone calls. Your various devices will never become \"bricks\" without WiFi.</p><p>For operators, users can save a huge expense without SIM cards. After all, the number of their users is calculated in hundreds of millions.</p><p>The advantages of eSIM are not limited to the ease of use of mobile phones and wearable devices. Its advantages are also reflected in harsh environment applications. For example, when running in a high-temperature, low-temperature, and high-vibration environment, the plug-in and unplug card of the device is very easily damaged, and eSIM can perfectly solve these problems.</p><p><b>Demand for eSIM explodes exponentially in the Internet of Things era</b></p><p>As the penetration rate of mobile communication terminal market in the global market exceeds 100% and becomes saturated, the further expansion of traditional SIM card business has encountered bottlenecks, and the rapid rise of the Internet of Things has brought a new dawn to eSIM cards.</p><p>According to a research report from Huachuang Securities, eSIM is built into the device, allowing users to choose operator packages more flexibly, or change operators at any time without unlocking the device or purchasing a new device. This development is in line with the change of SIM cards from large to small. The trend of changing from real to virtual will meet the connection needs of tens of billions of devices in the Internet of Things.</p><p>According to calculations by China Merchants Securities, assuming that the number of IoT connections reaches 24 billion in 2020 and 100 billion in 2025, the demand for SIM based on cellular IoT management will reach more than 30 billion, and eSIM will occupy the majority of IoT SIM. market.</p><p><b>Even if we consider charging a fee of 1 yuan per eSIM in the future, it will correspond to a new market of more than 30 billion yuan</b>，<b>It is 6 times the current traditional SIM market of 5 billion</b>, if you consider the SIM service management market, the market size is even larger.</p><p>Because of this, the three major operators have been maintaining an active layout of eSIM.</p><p><b>The ultimate form that analysts are optimistic about-super eSIM card</b></p><p>In fact, in addition to the eSIM card, Pacific Securities recently mentioned a super SIM card in a research report, which contains an encryption chip and NFC function, and can be used as a meal card, access control card, transportation card, and car key offline; Financial security authentication, 5G electronic signature and large-amount transfers can be carried out online.</p><p>In June this year, China Mobile centrally purchased 111.4 million super SIM cards, and eight companies including Wuhan Tianyu, Hengbao, Chutianlong, Eastcom and other companies won the bid.</p><p>Super SIM card is a new generation SIM card product with large capacity storage function and high security data processing function. This product supports mobile phones in the form of \"single Nano + storage\", providing users with ultra-large capacity, secure storage, one-button changeover, and call, SMS and data traffic functions supported by SIM cards</p><p>Pacific Securities pointed out that the super SIM card can solve the three major pain points of insufficient human terminal storage, difficulty in one-click replacement, and operators' desire for traffic entrance, and will explode with the 5G replacement tide.</p><p>In addition, the central bank promotes dual offline digital currencies,<b>Super SIM cards are also hard carriers for hard wallets</b>。</p><p>Pacific Securities stated that the 5G super SIM card can be integrated with digital currency payment applications to form a 5G super SIM card digital currency wallet, breaking through the \"wallet\" that currently only exists in the form of application software, encrypting storage from the chip layer, and realizing \"digital assets\" at the same time. Secure storage \"and\" identity security authentication \", one card has multiple functions.</p><p>It believes that with the advancement of 5G and digital currency in the future, the form and function of SIM cards will undergo revolutionary changes. Operators will use SIM cards as the entrance to the Internet of Everything, digital authentication and application expansion, and the state will use SIM cards as the hardware carrier of national credit.<b>eSIM and super SIM will be the categories that will explode in the future of the Internet of Things, mobile terminals, and hard wallets.</b></p>","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Slots may become history, Apple's next \"non-porous\" goal may be it</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSlots may become history, Apple's next \"non-porous\" goal may be it\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-12-28 17:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to reports, some analysts recently predicted that Apple may try to launch iPhones without physical SIM cards in some countries and regions, using eSIM technology, specifically starting with the iPhone 15 Pro.</p><p>The latest news shows that the shift may be advanced. Currently, Apple has advised several major U.S. carriers to prepare for eSIM-only smartphones to be released in September 2022.</p><p>According to the report, at present, the whole mobile phone industry recognizes non-porosity to improve the overall integrity of mobile phones. Apple has not surprisingly played a vanguard role in this direction. First, it replaced the physical buttons on the front with linear motors to simulate touch, and also led the wave of removing the 3.5 mm headphone jack. By the way, it also used AirPods to create a potential scale of 100 billion. The true wireless headphone market.</p><p>Removing the physical card slot is expected to further improve the dustproof and waterproof performance of the whole machine.</p><p><b>What is an eSIM card and what are the advantages?</b></p><p>An eSIM card, also known as an embedded SIM card, embeds a traditional SIM card directly into the device chip instead of being added to the device as an independent removable component. Take the mobile phone calling card as an example. Now, if our mobile phone wants to make a phone call, we need to go to the business hall to buy a calling card and insert it. However, if it is an eSIM card, it is not necessary, because it itself is in the chip.</p><p>Compared with traditional SIM, eSIM has the advantages of small size, low cost, convenience, flexibility, security, cross-regional deployment and remote management.</p><p>Specifically, the highly integrated eSIM solution can first solve the problem that the SIM card slot takes up a lot of mobile phone space. Although the SIM card is already very small now, the card slot will still restrict the appearance design and battery capacity of mobile phones or wearables as mobile phones become thinner and lighter.</p><p>In addition, the SIM card slot also affects the waterproof performance of the phone, while eSIM is integrated inside the phone and does not need to be slotted on the body, which can improve the waterproof level of the phone.</p><p>With the eSIM solution, each mobile terminal can independently use the mobile network to surf the Internet and even make phone calls. Your various devices will never become \"bricks\" without WiFi.</p><p>For operators, users can save a huge expense without SIM cards. After all, the number of their users is calculated in hundreds of millions.</p><p>The advantages of eSIM are not limited to the ease of use of mobile phones and wearable devices. Its advantages are also reflected in harsh environment applications. For example, when running in a high-temperature, low-temperature, and high-vibration environment, the plug-in and unplug card of the device is very easily damaged, and eSIM can perfectly solve these problems.</p><p><b>Demand for eSIM explodes exponentially in the Internet of Things era</b></p><p>As the penetration rate of mobile communication terminal market in the global market exceeds 100% and becomes saturated, the further expansion of traditional SIM card business has encountered bottlenecks, and the rapid rise of the Internet of Things has brought a new dawn to eSIM cards.</p><p>According to a research report from Huachuang Securities, eSIM is built into the device, allowing users to choose operator packages more flexibly, or change operators at any time without unlocking the device or purchasing a new device. This development is in line with the change of SIM cards from large to small. The trend of changing from real to virtual will meet the connection needs of tens of billions of devices in the Internet of Things.</p><p>According to calculations by China Merchants Securities, assuming that the number of IoT connections reaches 24 billion in 2020 and 100 billion in 2025, the demand for SIM based on cellular IoT management will reach more than 30 billion, and eSIM will occupy the majority of IoT SIM. market.</p><p><b>Even if we consider charging a fee of 1 yuan per eSIM in the future, it will correspond to a new market of more than 30 billion yuan</b>，<b>It is 6 times the current traditional SIM market of 5 billion</b>, if you consider the SIM service management market, the market size is even larger.</p><p>Because of this, the three major operators have been maintaining an active layout of eSIM.</p><p><b>The ultimate form that analysts are optimistic about-super eSIM card</b></p><p>In fact, in addition to the eSIM card, Pacific Securities recently mentioned a super SIM card in a research report, which contains an encryption chip and NFC function, and can be used as a meal card, access control card, transportation card, and car key offline; Financial security authentication, 5G electronic signature and large-amount transfers can be carried out online.</p><p>In June this year, China Mobile centrally purchased 111.4 million super SIM cards, and eight companies including Wuhan Tianyu, Hengbao, Chutianlong, Eastcom and other companies won the bid.</p><p>Super SIM card is a new generation SIM card product with large capacity storage function and high security data processing function. This product supports mobile phones in the form of \"single Nano + storage\", providing users with ultra-large capacity, secure storage, one-button changeover, and call, SMS and data traffic functions supported by SIM cards</p><p>Pacific Securities pointed out that the super SIM card can solve the three major pain points of insufficient human terminal storage, difficulty in one-click replacement, and operators' desire for traffic entrance, and will explode with the 5G replacement tide.</p><p>In addition, the central bank promotes dual offline digital currencies,<b>Super SIM cards are also hard carriers for hard wallets</b>。</p><p>Pacific Securities stated that the 5G super SIM card can be integrated with digital currency payment applications to form a 5G super SIM card digital currency wallet, breaking through the \"wallet\" that currently only exists in the form of application software, encrypting storage from the chip layer, and realizing \"digital assets\" at the same time. Secure storage \"and\" identity security authentication \", one card has multiple functions.</p><p>It believes that with the advancement of 5G and digital currency in the future, the form and function of SIM cards will undergo revolutionary changes. Operators will use SIM cards as the entrance to the Internet of Everything, digital authentication and application expansion, and the state will use SIM cards as the hardware carrier of national credit.<b>eSIM and super SIM will be the categories that will explode in the future of the Internet of Things, mobile terminals, and hard wallets.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3648356\">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/74282bcfe2e1d6d1ec4546eb18e35028","relate_stocks":{"AAPL":"苹果"},"source_url":"https://wallstreetcn.com/articles/3648356","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1118962717","content_text":"据报道，近期有分析师预测苹果可能会在部分国家和地区尝试推出没有实体SIM卡的iPhone，使用eSIM技术，具体将从iPhone 15 Pro开始。\n而最新消息显示，该转变可能会提前。目前，苹果已经建议美国几家主要运营商为2022年9月发布的只支持eSIM的智能手机做好准备。\n报道称，目前整个手机行业都认可无孔化，以提升手机整体的完整性。苹果在这一方向上毫不意外地扮演了急先锋身份，先是用线性马达模拟触感替代了正面实体按键，还引领去掉3.5mm耳机接口的浪潮，顺带还用AirPods造出了个潜在规模达千亿的真无线耳机市场。\n而去掉物理卡槽有望进一步提升整机防尘防水性能。\n什么是eSIM卡，有哪些优势？\neSIM卡又叫嵌入式SIM卡，将传统SIM卡直接嵌入到设备芯片上，而非作为独立的可移除零部件加入设备中。以手机电话卡为例，现在我们的手机想要打电话，都需要到营业厅买张电话卡插进去，但如果是eSIM卡，就没这个必要，因为它本身是在芯片里面。\n相比传统的SIM，eSIM具有体积小低成本、便利性、灵活性、安全、跨区域部署以及远程管理等功能优势等优势。\n具体来看，高度集成的eSIM方案，首先能解决SIM卡槽占用大量手机空间的难题，虽然现在SIM卡已经很小，但在手机越来越轻薄趋势下，卡槽还是会制约手机或可穿戴设备的外形设计和电池容量。\n此外，SIM卡槽还影响手机的防水性能，而eSIM集成在手机内部，不需要在机身上开槽，可以提高手机的防水等级。\n使用eSIM方案，每一个移动终端都可独立使用移动网络上网，甚至打电话，你的各种设备再也不会在没有WiFi的情况下变成“砖头”。\n对于运营商来说，用户不用SIM卡，也能省下一笔巨大的开支，毕竟他们的用户数都是以亿为单位计算的。\neSIM的优势不仅限于手机、可穿戴设备使用方便，它在优越性还体现在恶劣环境应用上。例如运行在高温、低温、高振动的环境中，设备插拔卡非常容易损坏，eSIM就能完美地解决这些问题。\n物联网时代eSIM需求呈指数级爆发\n随着全球市场移动通信终端市场渗透率超过100%趋于饱和，传统的SIM卡业务的进一步扩张遇到了瓶颈，而物联网的快速兴起为eSIM卡带来了新的曙光。\n据华创证券研报，eSIM内置于设备中，允许用户更加灵活的选择运营商套餐，或者在无需解锁设备、购买新设备的前提下随时更换运营商，这一发展符合SIM卡由大变小、由实变虚的趋势，将满足物联网百亿设备的连接需求。\n据招商证券测算，假设2020年物联网连接数达到240亿，2025年达到1000亿，则基于对蜂窝物联网管理带来的SIM需求将达到300亿以上，并且eSIM将占据物联网SIM的绝大部分市场。\n即使考虑每个eSIM未来收取1元费用，也将对应一个300亿以上的新增市场，是与目前50亿的传统SIM市场的6倍，如果再考虑到SIM服务管理市场，则市场规模更大。\n也正因为如此，三大运营商一直保持着对eSIM的积极布局。\n分析师看好的终极形态——超级eSIM卡\n事实上，除了eSIM卡，太平洋证券近日在研报中还提到一种超级SIM卡，它内含加密芯片以及NFC功能，线下可充当饭卡、门禁卡、交通卡、车钥匙；线上可以进行金融安全认证、5G电子签名以及大额转账等。\n今年6月，中国移动集中采购1.114亿张超级SIM卡，武汉天喻、恒宝、楚天龙、东信和平等8家企业中标。\n超级SIM卡，是一款具有大容量存储功能、高安全数据处理功能的新一代SIM卡产品。该产品支持“单Nano+存储”形态的手机，为用户同时提供超大容量、安全存储、一键换机以及SIM卡所支持的通话、短信和数据流量功能\n太平洋证券指出，超级SIM卡可解决人终端存储不足、一键换机难、运营商对流量入口的渴望三大痛点，将伴随5G换机潮呈现爆发。\n此外，央行推动双离线数字货币，超级SIM卡也是硬钱包的硬载体。\n太平洋证券表示，5G超级SIM卡可与数字货币支付应用相融合，形成5G超级SIM卡数字货币钱包，突破目前仅以应用软件形式存在的“钱包”，从芯片层加密存储，同时实现“数字资产安全存储”和“身份安全认证”，一卡多能。\n其认为，未来5G和数字货币的推进，SIM卡形态和功能将发生革命性变化，运营商将SIM卡作为万物互联、数字认证和应用拓展的入口，国家将SIM卡作为国家级信用的硬件载体。eSIM与超级SIM将是未来物联网、手机终端、硬钱包即将爆发式增长的品类。","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009156798,"gmtCreate":1640577998118,"gmtModify":1676533527098,"author":{"id":"3582212677594923","authorId":"3582212677594923","name":"Diaschy86","avatar":"https://static.tigerbbs.com/023e36d76d8f4434c4ca55ea9d316933","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582212677594923","idStr":"3582212677594923"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009156798","repostId":"2194797491","repostType":4,"repost":{"id":"2194797491","kind":"highlight","pubTimestamp":1640576240,"share":"https://ttm.financial/m/news/2194797491?lang=en_US&edition=fundamental","pubTime":"2021-12-27 11:37","market":"us","language":"zh","title":"The next generation of EUV lithography is about to break out","url":"https://stock-news.laohu8.com/highlight/detail?id=2194797491","media":"半导体行业观察","summary":"随着先进制程芯片上量（包括逻辑芯片和存储器），芯片制造端的高技术含量规模也在不断扩大，其中，最具代表性的就是EUV光刻机，市场对其需求在未来几年将大幅增加。\nASML预期今年EUV设备出货量有望达到5","content":"<p>With the quantity of advanced process chips (including logic chips and memories), the scale of high-tech content on the chip manufacturing side is also expanding. Among them, the most representative one is the EUV lithography, and the market demand for it will increase significantly in the next few years..</p><p>ASML expects EUV equipment shipments to reach 50 units this year, which is already a very impressive number. Even so, supply still exceeds demand. With the evolution of logic chips and DRAM manufacturing processes, the number of EUV exposure mask layers on a single wafer is rapidly increasing. Among them, the average number of EUV exposure layers on advanced logic process wafers has exceeded 10 layers in 2021 and will exceed 20 layers in 2023.</p><p>According to ASML estimates, a 7nm ~ 3nm process 12-inch wafer fab with a monthly production capacity of 45,000 pieces has a single wafer EUV mask layers ranging from 10 to 20 layers, and the number of EUV lithography installed reaches 9 to 18 units; The monthly production capacity reaches 100,000 DRAM factories, the number of EUV mask layers on a single wafer ranges from 1 to 6 layers, and the number of EUV lithography installed reaches 2 to 9 units. These will generate a large demand for EUV exposure equipment, and the demand for EUV lithography before 2025 will set new records year by year.</p><p><h3><b>The demand side continues to improve</b></h3>Currently, the chip manufacturers with the largest demand for EUV equipment include<a href=\"https://laohu8.com/S/INTC\">Intel</a>、<a href=\"https://laohu8.com/S/TSM\">TSMC</a>、<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>And SK Hynix, the demand for EUVs from these four giants will continue to increase in the next few years.</p><p><img src=\"https://static.tigerbbs.com/5b20aa1f230eded2222be5eae10df7ba\" tg-width=\"800\" tg-height=\"393\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Obviously, TSMC, the leader in advanced process chips, has the largest demand for EUV lithography, which can be compared with Intel. By 2023, TSMC is expected to have a total of 133 EUV lithography units, while Intel has 20 units.</p><p>Currently, TSMC accounts for half of the industry's EUV equipment installation base and wafer production, and plans to expand production capacity through state-of-the-art 3nm and 2nm fabs.</p><p>In recent years, TSMC has been increasing the number of EUV equipment purchases. Since the second half of this year, its 5nm production capacity has been fully opened, including<a href=\"https://laohu8.com/S/AAPL\">Apple</a>A15 application processors and M1X/M2 computer processors, MediaTek and<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>New 5G mobile phone chip,<a href=\"https://laohu8.com/S/AMD\">AMD</a>Zen 4 architecture computers and server processors will be introduced into mass production one after another. In order to maintain technological leadership, TSMC's 4nm optimized from 5nm will enter mass production next year, and the new 3nm will also be introduced into mass production in the second half of next year, which shows the demand for EUV.</p><p>Since 2018, ASML has increased production of EUV lithography, producing about 75 units, of which TSMC is said to have bought 60%.</p><p>For Samsung, its wafer foundry and advanced process DRAM both require EUV lithography, and the number is increasing year by year, second only to TSMC. According to statistics, Samsung currently has 25 EUV devices, which is about half that of TSMC.</p><p>In order to obtain more EUV equipment, in October 2020, Samsung leader and vice chairman Lee Jae-yong flew to the ASML headquarters to discuss the stable purchase of EUV equipment. It is said that about 20 units were ordered. The price of one is more than 20 billion won ($177 million).</p><p>According to Samsung's Vision 2030 announced in April 2019, the company plans to invest a total of 133 trillion won and hopes to become the world's top wafer foundry company. The company spends 10 trillion won a year to develop chip foundry technology and buy necessary equipment, especially EUV lithography, to catch up with TSMC.</p><p>Let's take a look at Intel again. In the past few years, the company believed that the EUV process was not mature enough. Now that the EUV lithography process has been mass-produced for several years, Intel has begun to follow up. Its newly launched Intel 4 process will be fully introduced into the EUV lithography. Subsequent Intel 3, Intel 20A processes will continue to introduce EUV.</p><p>After 2025, the company's manufacturing process is planned to Intel 18A, which will use second-generation RibbonFET transistors. The EUV lithography will also undergo a major upgrade. To this end, Intel stated that it will deploy the next generation of High-NA EUV, which is expected to be the first in the industry. High-NA EUV lithography. Currently, the company is working closely with ASML to ensure the success of this industry-breaking technology, surpassing the current generation of EUVs.</p><p>NA represents the numerical aperture, which will be increased to 0.5 in the future from the current highest value of 0.33. It is reported that ASML's NXE: 5000 series will achieve such performance. It was previously expected to be released in 2023, but now it has been postponed to 2025. The price of a single unit is expected to exceed $300 million.</p><p>The above is about the production of logic chips. In terms of memory, especially DRAM, Samsung and SK Hynix now use EUV devices in their DRAM production, and Micron said it plans to apply EUV to its DRAM production starting in 2024.</p><p><h3><b>Supply side follow-up</b></h3>As EUV lithography technology becomes more and more important, the advantages of ASML become more and more obvious. However, in addition to ASML, lithography suppliers also include Japanese manufacturers Nikon and<a href=\"https://laohu8.com/S/CAJ\">Canon</a>(Canon), these two companies can compete with ASML in deep ultraviolet (DUV, the wavelength of the light source is longer than EUV) lithography technology, but ASML, as the leader of the enterprise, also has a 62% market share in the field of DUV lithography.</p><p>At present, although only ASML can produce EUV lithography, because its technology is too complex, it also needs to cooperate with semiconductor equipment manufacturers and scientific research institutions in the industry to produce more advanced EUV equipment needed in the future.</p><p>For example, not long ago, Tokyo Electronics (TEL) announced the launch of its leading coater to the imec-ASML joint high NA EUV research laboratory, which will be integrated with ASML's next-generation high NA EUV lithography system NXE: 5000.</p><p>Compared with traditional EUV lithography, high NA EUV lithography is expected to provide more advanced pattern scaling solutions. The coater/developer introduced into the Joint High NA Laboratory will have advanced features compatible not only with widely used chemically amplified resists and underlayers, but also with spin-coated metal-containing resists. Spin-coated metal-containing resists have exhibited high resolution and high etch resistance, promising finer patterning. However, metal-containing resists also require precise pattern size control and metal contamination control on the back and bevel of the chip. To address these challenges, the coater/developer installed at the Joint High NA laboratory is equipped with cutting-edge process modules capable of handling metal-containing resists.</p><p>Combined with the new process module, a single unit of TEL Coater/Developer can process multiple materials online, including chemically amplified resists, metal-containing resists, and underlayers. This will enable flexible fab operations.</p><p>In the second half of this year, ASML launched the latest 0.33 numerical aperture EUV lithography NXE: 3600D. The hourly exposure output (throughput) is estimated to be increased to 160 pieces. In 2023, the NXE: 3800E will be launched to increase the hourly exposure output to 195 ~ 220 pieces.</p><p>As for the next generation EUV technology with a high numerical aperture of 0.55, it is expected to enter mass production after 2025, supporting 1.5 nm and 1nm logic processes, as well as the most advanced DRAM process.</p><p>During a conference call in the second quarter of this year, ASML CEO Peter Wennink said the company plans to produce about 40 EUV lithography units this year and will expand to 55 units in 2022 and increase production to 60 units in 2023.</p><p>To produce EUV equipment, ASML needs to source the lenses needed for the system from Germany's Zeiss AG, however, it has a limited number of lenses it can source per year, which leads to long lead times for the system. In this regard, Peter Wennink said that the company's EUV equipment lead time will also be shortened from the previous 18 to 24 months to 12 to 18 months.</p><p>Wennink said its three major DRAM customers all plan to use EUV for mass production. By 2021, the companies are expected to spend a total of € 1. 2 billion to purchase EUV systems. He added that EUV shipments to these companies will increase in the future.</p><p>ASML has begun production of its NXE 3600D new EUV device, which provides a 15% to 20% increase in productivity and a 30% increase in coverage compared to the previous 3400C.</p><p>In the second quarter of this year, ASML's sales were 4 billion euros and net profit was 1 billion euros, an increase of 20% and 38% respectively from the second quarter of 2020. The company's orders rose 75% compared to the previous quarter to EUR 8.3 billion, of which EUR 4.9 billion was for EUV equipment.</p><p>South Korea accounted for 39% of ASML's sales, followed by Taiwan, China with 35%. The company expects sales in 2021 to grow 35% compared to 2020.</p><p><h3><b>epilogue</b></h3>With the improvement of chip manufacturing technology, TSMC and Samsung have purchased a large amount of EUV lithography, and memory chip manufacturer SK Hynix has also begun to adopt EUV lithography, and will also significantly increase purchases in the next five years.<a href=\"https://laohu8.com/S/MU\">Micron Technology</a>It is also planned to start using EUV equipment in 2024.</p><p>The four major chip factories purchase EUV equipment in large quantities, which means that the proportion of applications of this type of lithography will increase significantly in the next few years and gradually occupy a dominant position. An ASML executive told an EUV lithography ecosystem conference that EUV devices are expected to account for more than 60% of the lithography operated by global fabs by 2025.</p>","source":"36kr_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The next generation of EUV lithography is about to break out</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe next generation of EUV lithography is about to break out\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">半导体行业观察</strong><span class=\"h-time small\">2021-12-27 11:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>With the quantity of advanced process chips (including logic chips and memories), the scale of high-tech content on the chip manufacturing side is also expanding. Among them, the most representative one is the EUV lithography, and the market demand for it will increase significantly in the next few years..</p><p>ASML expects EUV equipment shipments to reach 50 units this year, which is already a very impressive number. Even so, supply still exceeds demand. With the evolution of logic chips and DRAM manufacturing processes, the number of EUV exposure mask layers on a single wafer is rapidly increasing. Among them, the average number of EUV exposure layers on advanced logic process wafers has exceeded 10 layers in 2021 and will exceed 20 layers in 2023.</p><p>According to ASML estimates, a 7nm ~ 3nm process 12-inch wafer fab with a monthly production capacity of 45,000 pieces has a single wafer EUV mask layers ranging from 10 to 20 layers, and the number of EUV lithography installed reaches 9 to 18 units; The monthly production capacity reaches 100,000 DRAM factories, the number of EUV mask layers on a single wafer ranges from 1 to 6 layers, and the number of EUV lithography installed reaches 2 to 9 units. These will generate a large demand for EUV exposure equipment, and the demand for EUV lithography before 2025 will set new records year by year.</p><p><h3><b>The demand side continues to improve</b></h3>Currently, the chip manufacturers with the largest demand for EUV equipment include<a href=\"https://laohu8.com/S/INTC\">Intel</a>、<a href=\"https://laohu8.com/S/TSM\">TSMC</a>、<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>And SK Hynix, the demand for EUVs from these four giants will continue to increase in the next few years.</p><p><img src=\"https://static.tigerbbs.com/5b20aa1f230eded2222be5eae10df7ba\" tg-width=\"800\" tg-height=\"393\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Obviously, TSMC, the leader in advanced process chips, has the largest demand for EUV lithography, which can be compared with Intel. By 2023, TSMC is expected to have a total of 133 EUV lithography units, while Intel has 20 units.</p><p>Currently, TSMC accounts for half of the industry's EUV equipment installation base and wafer production, and plans to expand production capacity through state-of-the-art 3nm and 2nm fabs.</p><p>In recent years, TSMC has been increasing the number of EUV equipment purchases. Since the second half of this year, its 5nm production capacity has been fully opened, including<a href=\"https://laohu8.com/S/AAPL\">Apple</a>A15 application processors and M1X/M2 computer processors, MediaTek and<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>New 5G mobile phone chip,<a href=\"https://laohu8.com/S/AMD\">AMD</a>Zen 4 architecture computers and server processors will be introduced into mass production one after another. In order to maintain technological leadership, TSMC's 4nm optimized from 5nm will enter mass production next year, and the new 3nm will also be introduced into mass production in the second half of next year, which shows the demand for EUV.</p><p>Since 2018, ASML has increased production of EUV lithography, producing about 75 units, of which TSMC is said to have bought 60%.</p><p>For Samsung, its wafer foundry and advanced process DRAM both require EUV lithography, and the number is increasing year by year, second only to TSMC. According to statistics, Samsung currently has 25 EUV devices, which is about half that of TSMC.</p><p>In order to obtain more EUV equipment, in October 2020, Samsung leader and vice chairman Lee Jae-yong flew to the ASML headquarters to discuss the stable purchase of EUV equipment. It is said that about 20 units were ordered. The price of one is more than 20 billion won ($177 million).</p><p>According to Samsung's Vision 2030 announced in April 2019, the company plans to invest a total of 133 trillion won and hopes to become the world's top wafer foundry company. The company spends 10 trillion won a year to develop chip foundry technology and buy necessary equipment, especially EUV lithography, to catch up with TSMC.</p><p>Let's take a look at Intel again. In the past few years, the company believed that the EUV process was not mature enough. Now that the EUV lithography process has been mass-produced for several years, Intel has begun to follow up. Its newly launched Intel 4 process will be fully introduced into the EUV lithography. Subsequent Intel 3, Intel 20A processes will continue to introduce EUV.</p><p>After 2025, the company's manufacturing process is planned to Intel 18A, which will use second-generation RibbonFET transistors. The EUV lithography will also undergo a major upgrade. To this end, Intel stated that it will deploy the next generation of High-NA EUV, which is expected to be the first in the industry. High-NA EUV lithography. Currently, the company is working closely with ASML to ensure the success of this industry-breaking technology, surpassing the current generation of EUVs.</p><p>NA represents the numerical aperture, which will be increased to 0.5 in the future from the current highest value of 0.33. It is reported that ASML's NXE: 5000 series will achieve such performance. It was previously expected to be released in 2023, but now it has been postponed to 2025. The price of a single unit is expected to exceed $300 million.</p><p>The above is about the production of logic chips. In terms of memory, especially DRAM, Samsung and SK Hynix now use EUV devices in their DRAM production, and Micron said it plans to apply EUV to its DRAM production starting in 2024.</p><p><h3><b>Supply side follow-up</b></h3>As EUV lithography technology becomes more and more important, the advantages of ASML become more and more obvious. However, in addition to ASML, lithography suppliers also include Japanese manufacturers Nikon and<a href=\"https://laohu8.com/S/CAJ\">Canon</a>(Canon), these two companies can compete with ASML in deep ultraviolet (DUV, the wavelength of the light source is longer than EUV) lithography technology, but ASML, as the leader of the enterprise, also has a 62% market share in the field of DUV lithography.</p><p>At present, although only ASML can produce EUV lithography, because its technology is too complex, it also needs to cooperate with semiconductor equipment manufacturers and scientific research institutions in the industry to produce more advanced EUV equipment needed in the future.</p><p>For example, not long ago, Tokyo Electronics (TEL) announced the launch of its leading coater to the imec-ASML joint high NA EUV research laboratory, which will be integrated with ASML's next-generation high NA EUV lithography system NXE: 5000.</p><p>Compared with traditional EUV lithography, high NA EUV lithography is expected to provide more advanced pattern scaling solutions. The coater/developer introduced into the Joint High NA Laboratory will have advanced features compatible not only with widely used chemically amplified resists and underlayers, but also with spin-coated metal-containing resists. Spin-coated metal-containing resists have exhibited high resolution and high etch resistance, promising finer patterning. However, metal-containing resists also require precise pattern size control and metal contamination control on the back and bevel of the chip. To address these challenges, the coater/developer installed at the Joint High NA laboratory is equipped with cutting-edge process modules capable of handling metal-containing resists.</p><p>Combined with the new process module, a single unit of TEL Coater/Developer can process multiple materials online, including chemically amplified resists, metal-containing resists, and underlayers. This will enable flexible fab operations.</p><p>In the second half of this year, ASML launched the latest 0.33 numerical aperture EUV lithography NXE: 3600D. The hourly exposure output (throughput) is estimated to be increased to 160 pieces. In 2023, the NXE: 3800E will be launched to increase the hourly exposure output to 195 ~ 220 pieces.</p><p>As for the next generation EUV technology with a high numerical aperture of 0.55, it is expected to enter mass production after 2025, supporting 1.5 nm and 1nm logic processes, as well as the most advanced DRAM process.</p><p>During a conference call in the second quarter of this year, ASML CEO Peter Wennink said the company plans to produce about 40 EUV lithography units this year and will expand to 55 units in 2022 and increase production to 60 units in 2023.</p><p>To produce EUV equipment, ASML needs to source the lenses needed for the system from Germany's Zeiss AG, however, it has a limited number of lenses it can source per year, which leads to long lead times for the system. In this regard, Peter Wennink said that the company's EUV equipment lead time will also be shortened from the previous 18 to 24 months to 12 to 18 months.</p><p>Wennink said its three major DRAM customers all plan to use EUV for mass production. By 2021, the companies are expected to spend a total of € 1. 2 billion to purchase EUV systems. He added that EUV shipments to these companies will increase in the future.</p><p>ASML has begun production of its NXE 3600D new EUV device, which provides a 15% to 20% increase in productivity and a 30% increase in coverage compared to the previous 3400C.</p><p>In the second quarter of this year, ASML's sales were 4 billion euros and net profit was 1 billion euros, an increase of 20% and 38% respectively from the second quarter of 2020. The company's orders rose 75% compared to the previous quarter to EUR 8.3 billion, of which EUR 4.9 billion was for EUV equipment.</p><p>South Korea accounted for 39% of ASML's sales, followed by Taiwan, China with 35%. The company expects sales in 2021 to grow 35% compared to 2020.</p><p><h3><b>epilogue</b></h3>With the improvement of chip manufacturing technology, TSMC and Samsung have purchased a large amount of EUV lithography, and memory chip manufacturer SK Hynix has also begun to adopt EUV lithography, and will also significantly increase purchases in the next five years.<a href=\"https://laohu8.com/S/MU\">Micron Technology</a>It is also planned to start using EUV equipment in 2024.</p><p>The four major chip factories purchase EUV equipment in large quantities, which means that the proportion of applications of this type of lithography will increase significantly in the next few years and gradually occupy a dominant position. An ASML executive told an EUV lithography ecosystem conference that EUV devices are expected to account for more than 60% of the lithography operated by global fabs by 2025.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1542175181891588\">半导体行业观察</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/38b14d4c1528b585f44d427c7a09d860","relate_stocks":{"BK4505":"高瓴资本持仓","BK4535":"淡马锡持仓","BK4515":"5G概念","TSM":"台积电","BK4550":"红杉资本持仓","BK4548":"巴美列捷福持仓","EWT":"台湾ETF-iShares MSCI","03145":"华夏亚洲高息股","BK4145":"电子制造服务","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","TEL":"泰科电子","BK4512":"苹果概念","BK4527":"明星科技股","INTC":"英特尔","BK4526":"热门中概股","BK4141":"半导体产品","BK4534":"瑞士信贷持仓","BK4503":"景林资产持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4529":"IDC概念"},"source_url":"https://36kr.com/p/1542175181891588","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2194797491","content_text":"随着先进制程芯片上量（包括逻辑芯片和存储器），芯片制造端的高技术含量规模也在不断扩大，其中，最具代表性的就是EUV光刻机，市场对其需求在未来几年将大幅增加。\nASML预期今年EUV设备出货量有望达到50台，这已经是一个非常可观的数字了，即使如此，仍然供不应求。随着逻辑芯片及DRAM制程的演进，单片晶圆EUV曝光光罩层数正在快速提升，其中先进逻辑制程晶圆2021年EUV曝光层数平均已超过10层，2023年将超过20层。\n据ASML预估，月产能达4.5万片的7nm~3nm制程12吋晶圆厂，单片晶圆EUV光罩层数介于10～20层，EUV光刻机安装数量达9～18台；月产能达10万片DRAM厂，单片晶圆EUV光罩层数介于1～6层，EUV光刻机安装数量达2～9台。这些将大量催生对EUV曝光设备的需求量，2025年之前的EUV光刻机需求将逐年创下新纪录。\n需求侧不断提升\n目前，对EUV设备需求量最大的芯片厂商包括英特尔、台积电、三星和SK海力士，未来几年，这四巨头对EUV的需求将持续增加。\n\n显然，先进制程芯片龙头台积电对EUV光刻机的需求量最大，可以与英特尔做一下比较，到2023年，预计台积电共拥有133台EUV光刻机，而英特尔为20台。\n目前，台积电占行业EUV设备安装基础和晶圆产量的一半，并计划通过最先进的3nm和2nm晶圆厂扩大产能。\n近几年，台积电一直在提升EUV设备采购数量，今年下半年以来，其5nm产能全开，包括苹果A15应用处理器及M1X／M2电脑处理器、联发科及高通新款5G手机芯片、AMD的Zen 4架构电脑及服务器处理器等将陆续导入量产。为了维持技术领先，台积电由5nm优化后的4nm将在明年进入量产，全新3nm也将在明年下半年导入量产，EUV需求量可见一斑。\n自2018年以来，ASML增加了EUV光刻机的产量，生产了约75台，据说台积电购买了其中的60%。\n三星方面，其晶圆代工和先进制程DRAM都需要EUV光刻机，而且数量逐年递增，仅次于台积电。据统计，三星目前拥有25台EUV设备，数量约为台积电的一半。\n为了获得更多的EUV设备，2020年10月，三星领导人、副董事长李在镕飞到ASML总部，商讨稳定采购EUV设备，据说订购了大约20台。一台的价格超过200亿韩元（1.77 亿美元）。\n根据三星2019年4月宣布的 Vision 2030，该公司计划总投资133万亿韩元，希望成为全球顶级晶圆代工企业。该公司每年花费10万亿韩元来开发芯片代工技术并购买必要的设备，特别是EUV光刻机，以追赶手台积电。\n再来看一下英特尔，前些年，该公司认为EUV工艺不够成熟，现在EUV光刻工艺已经量产几年了，英特尔开始跟进，其新推出的Intel 4制程将全面导入EUV光刻机，之后的Intel 3、Intel 20A工艺会持续导入EUV。\n2025年之后，该公司的制程工艺规划到了Intel 18A，将使用第二代RibbonFET晶体管，EUV光刻机也会有一次重大升级，为此，英特尔表示将部署下一代High-NA EUV，有望率先获得业界第一台High-NA EUV光刻机。目前，该公司正与ASML密切合作，确保这一行业突破性技术取得成功，超越当前一代EUV。\nNA表示数值孔径，从目前的最高值为0.33，今后将提升到0.5，据悉，ASML的NXE：5000系列将实现这样的性能，之前预计是在2023年问世，现在推迟到了2025年，单台售价预计将超过3亿美元。\n以上谈的是逻辑芯片的生产，在存储器方面，特别是DRAM，三星和 SK 海力士现在都在其DRAM生产中使用EUV设备，美光则表示计划从2024年开始将EUV应用于其DRAM生产。\n供给侧跟进\n随着EUV光刻技术变得越来越重要，ASML的优势也越发明显。不过，光刻机供货商除ASML之外，还有日本厂商尼康（Nikon）和佳能（Canon），这两家在深紫外线（DUV，光源波长比EUV长）的光刻技术上能与ASML竞争，但ASML作为企业龙头，在DUV光刻领域，也拥有62％的市场份额。\n目前，虽然只有ASML一家能生产EUV光刻机，但由于其技术过于复杂，也需要与业内的半导体设备厂商和科研机构合作，才能生产出未来需要的更先进EUV设备。\n例如，不久前，东京电子（TEL）宣布，向imec-ASML联合高 NA EUV 研究实验室推出其领先的涂布机，该设备将与 ASML 的下一代高NA EUV光刻系统NXE:5000 集成。\n与传统的 EUV 光刻相比，高 NA EUV 光刻有望提供更先进的图案缩放解决方案。被引入联合高 NA 实验室的涂布机/显影剂将具有先进的功能，不仅与广泛使用的化学放大抗蚀剂和底层兼容，而且还与旋涂含金属抗蚀剂兼容。旋涂含金属抗蚀剂已表现出高分辨率和高抗蚀刻性，有望实现更精细的图案化。然而，含金属的抗蚀剂还需要精密的图案尺寸控制以及芯片背面和斜面的金属污染控制。为了应对这些挑战，安装在联合高 NA 实验室的涂布机/显影剂配备了能够处理含金属抗蚀剂的前沿工艺模块。\n结合新的工艺模块，TEL Coater/Developer 的单个单元可以在线处理多种材料，包括化学放大抗蚀剂、含金属抗蚀剂和底层。这将实现灵活的晶圆厂运营。\n今年下半年，ASML推出了最新0.33数值孔径EUV光刻机NXE：3600D，每小时曝光产量（throughput）预估可提升至160片，2023年再推出NXE：3800E可将每小时曝光产量提升到195～220片。\n至于0.55高数值孔径的下一代EUV技术预计2025年后进入量产，支援1.5nm及1nm逻辑制程，以及最先进的DRAM制程。\n在今年第二季度的电话会议上，ASML 首席执行官 Peter Wennink 表示，该公司计划今年生产约40台EUV光刻机，并将在2022 年扩大到55台，2023 年将产量增加到60台。\n要生产EUV设备，ASML需要从德国蔡司公司采购系统所需的镜头，然而，它每年可以采购的镜头数量有限，这导致系统的交货时间很长。对此，Peter Wennink表示，该公司的EUV设备交付周期也将从之前的18至24个月缩短至12至 18个月。\nWennink 表示，其三大 DRAM 客户都计划使用 EUV 进行量产。到 2021 年，这些公司预计将总共花费 12 亿欧元来购买 EUV 系统。他补充说，未来向这些公司的 EUV 出货量将增加。\nASML已经开始生产其NXE 3600D新型EUV设备，与之前的3400C相比，该系统的生产率提高了15%到20%，覆盖率提高了30%。\n今年第二季度，ASML的销售额为40亿欧元，净利润为10亿欧元，比2020年第二季度分别增长20%和38%。该公司的订单与上一季度相比增长了 75%，达到 83 亿欧元，其中 49 亿欧元用于EUV设备。\n韩国占ASML销售额的39%，其次是中国台湾的35%。该公司预计2021年的销售额将比 2020年增长35%。\n结语\n随着芯片制程工艺的提升，台积电和三星已采购大量EUV光刻机，存储芯片制造商SK海力士也已开始采用EUV光刻机，未来5年也将大幅增加采购量，美光科技也计划在2024年开始使用EUV设备。\n四大芯片厂大量采购EUV设备，意味这该类光刻机的应用比例在未来几年将大幅提升，并逐渐占据主导地位。ASML的一名高管在一次EUV光刻机生态系统会议上表示，预计到2025年，全球晶圆厂运行的光刻机中，EUV设备所占比例将超过60%。","news_type":1,"symbols_score_info":{"TSM":0.9,"03145":0.9,"TEL":0.9,"INTC":0.9,"EWT":0.9,"TWmain":0.9}},"isVote":1,"tweetType":1,"viewCount":2759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009999523,"gmtCreate":1640407528573,"gmtModify":1676533519994,"author":{"id":"3582212677594923","authorId":"3582212677594923","name":"Diaschy86","avatar":"https://static.tigerbbs.com/023e36d76d8f4434c4ca55ea9d316933","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582212677594923","idStr":"3582212677594923"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009999523","repostId":"2194017966","repostType":4,"isVote":1,"tweetType":1,"viewCount":2914,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009001981,"gmtCreate":1640336955872,"gmtModify":1676533517178,"author":{"id":"3582212677594923","authorId":"3582212677594923","name":"Diaschy86","avatar":"https://static.tigerbbs.com/023e36d76d8f4434c4ca55ea9d316933","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582212677594923","idStr":"3582212677594923"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009001981","repostId":"1125940737","repostType":4,"repost":{"id":"1125940737","kind":"news","pubTimestamp":1640334304,"share":"https://ttm.financial/m/news/1125940737?lang=en_US&edition=fundamental","pubTime":"2021-12-24 16:25","market":"us","language":"zh","title":"Tesla's German Gigafactory is expected to achieve mass production in 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=1125940737","media":"智通财经网","summary":"眼下，特斯拉只需扫清最后的障碍。","content":"<p>Right now,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>As long as the final hurdle is cleared, its Berlin Gigafactory in Germany is expected to achieve mass production in 2022.</p><p>The final hurdle facing Tesla's German Gigafactory comes from local environmental groups. It is reported that the person in charge of the local environmental protection organization said that the Eggersdorf waterworks water plant where the Tesla Gigafactory is located pumps nearly 4 million cubic meters of water from the ground every year. However, the Tesla factory will occupy most of the consumption, which will inevitably affect the surrounding areas. The use of domestic water for residents and other industrial water.</p><p>Local environmental groups accused the state government of approving the plan of Eggersdorf waterworks water plant to increase the pumping rate without relevant tests, forcing the local government to hold relevant hearings to deal with the issue. The hearing originally planned to be held earlier this month was postponed to the end of December for no reason, causing the hope of Tesla's Gigafactory to achieve mass production in 2021 to be dashed again.</p><p>For Tesla, the ability of the German Gigafactory to achieve full operation is a key component of the company's future. \"The German Gigafactory is key to Tesla's plans to expand production capacity in 2022 and beyond,\" said Dan Ives, managing director of Wedbush. \"For the factory, the key is to start producing cars in early January next year.\" There's so much red tape that they didn't expect to spend three months talking about how to cut down trees. \"</p><p><b>Struggling</b></p><p>Although construction is progressing rapidly, Tesla's German Gigafactory project has had a bumpy road since its launch. In addition to facing challenges from local environmental organizations, the lengthy government administrative licensing process has made Tesla complain. In addition, Tesla's recent decision to expand the factory scope and build a battery-grade lithium factory nearby has also attracted some criticism.</p><p>In terms of environmental protection, Tesla faces many problems from initial drinking water pollution to felling trees and noise, to affecting ants moving in the soil and hibernating bats and snakes in the forest. At present, the problem of groundwater has become an urgent need. At the same time, local environmental organizations are still making unremitting efforts to protest the impact of the factory on the living environment of surrounding residents, so as to require automakers to follow the strict local environmental requirements. They rebuke Tesla for being contrary to Germany's business culture.</p><p>German media said that environmental issues will once again force Tesla's German factory to postpone mass production until early 2022. At present, Tesla needs to prepare more written materials for the hearing to deal with related complaints.</p><p>However, as a benefit to the local economy and employment, the Tesla Gigafactory still received a lot of support. The project is expected to create up to 40,000 jobs in the coming years, and the mayor of the town of Gruenheide, where the plant is located, described it as a \"once-in-a-lifetime opportunity\" to stimulate the local economy.</p><p>As an investor in Tesla, Ross Gerber, CEO of asset management firm Gerber Kawasaki, said he was not too worried about the obstacles facing Tesla. \"From the perspective that we know that the plant will start soon, this is not a big problem.\" \"We are very bullish on the European market, where there is a lot of demand for Tesla.\"</p><p><b>European Market</b></p><p>Gartner automotive industry analyst Pedro Pacheco said that although the impact of Tesla's German Gigafactory will be asymptotic, it will be significant. \"I think the most immediate difference is capacity. From a manufacturing perspective, Tesla will have more available capacity and shorter delivery times to its European customers.\"</p><p>He also added that if Tesla develops new models designed for the European market, the German Gigafactory will have a \"crucial\" role. \"Germany is one of the leading automotive powerhouses in the world, and it is also a major automotive powerhouse in Europe. So if you want to take advantage of European talent, you have to come to Germany.\"</p><p>Another looming problem that Tesla may need to face is the ongoing disruption of global supply chains and chip shortages, which have hit the entire auto industry hard. Ross Gerber said he believes Tesla has weathered the chip shortage crisis relatively well, but the auto industry will still be affected at least in the first quarter of 2022.</p><p>\"I still think that in the first quarter of next year, the chip shortage will be a challenge. But I also think that this problem will be alleviated in the next 12 months. By some time next year, it will all be solved.\"</p>","source":"highlight_zhitongcaijin","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>Tesla's German Gigafactory is expected to achieve mass production in 2022</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\">\nTesla's German Gigafactory is expected to achieve mass production in 2022\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2021-12-24 16:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Right now,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>As long as the final hurdle is cleared, its Berlin Gigafactory in Germany is expected to achieve mass production in 2022.</p><p>The final hurdle facing Tesla's German Gigafactory comes from local environmental groups. It is reported that the person in charge of the local environmental protection organization said that the Eggersdorf waterworks water plant where the Tesla Gigafactory is located pumps nearly 4 million cubic meters of water from the ground every year. However, the Tesla factory will occupy most of the consumption, which will inevitably affect the surrounding areas. The use of domestic water for residents and other industrial water.</p><p>Local environmental groups accused the state government of approving the plan of Eggersdorf waterworks water plant to increase the pumping rate without relevant tests, forcing the local government to hold relevant hearings to deal with the issue. The hearing originally planned to be held earlier this month was postponed to the end of December for no reason, causing the hope of Tesla's Gigafactory to achieve mass production in 2021 to be dashed again.</p><p>For Tesla, the ability of the German Gigafactory to achieve full operation is a key component of the company's future. \"The German Gigafactory is key to Tesla's plans to expand production capacity in 2022 and beyond,\" said Dan Ives, managing director of Wedbush. \"For the factory, the key is to start producing cars in early January next year.\" There's so much red tape that they didn't expect to spend three months talking about how to cut down trees. \"</p><p><b>Struggling</b></p><p>Although construction is progressing rapidly, Tesla's German Gigafactory project has had a bumpy road since its launch. In addition to facing challenges from local environmental organizations, the lengthy government administrative licensing process has made Tesla complain. In addition, Tesla's recent decision to expand the factory scope and build a battery-grade lithium factory nearby has also attracted some criticism.</p><p>In terms of environmental protection, Tesla faces many problems from initial drinking water pollution to felling trees and noise, to affecting ants moving in the soil and hibernating bats and snakes in the forest. At present, the problem of groundwater has become an urgent need. At the same time, local environmental organizations are still making unremitting efforts to protest the impact of the factory on the living environment of surrounding residents, so as to require automakers to follow the strict local environmental requirements. They rebuke Tesla for being contrary to Germany's business culture.</p><p>German media said that environmental issues will once again force Tesla's German factory to postpone mass production until early 2022. At present, Tesla needs to prepare more written materials for the hearing to deal with related complaints.</p><p>However, as a benefit to the local economy and employment, the Tesla Gigafactory still received a lot of support. The project is expected to create up to 40,000 jobs in the coming years, and the mayor of the town of Gruenheide, where the plant is located, described it as a \"once-in-a-lifetime opportunity\" to stimulate the local economy.</p><p>As an investor in Tesla, Ross Gerber, CEO of asset management firm Gerber Kawasaki, said he was not too worried about the obstacles facing Tesla. \"From the perspective that we know that the plant will start soon, this is not a big problem.\" \"We are very bullish on the European market, where there is a lot of demand for Tesla.\"</p><p><b>European Market</b></p><p>Gartner automotive industry analyst Pedro Pacheco said that although the impact of Tesla's German Gigafactory will be asymptotic, it will be significant. \"I think the most immediate difference is capacity. From a manufacturing perspective, Tesla will have more available capacity and shorter delivery times to its European customers.\"</p><p>He also added that if Tesla develops new models designed for the European market, the German Gigafactory will have a \"crucial\" role. \"Germany is one of the leading automotive powerhouses in the world, and it is also a major automotive powerhouse in Europe. So if you want to take advantage of European talent, you have to come to Germany.\"</p><p>Another looming problem that Tesla may need to face is the ongoing disruption of global supply chains and chip shortages, which have hit the entire auto industry hard. Ross Gerber said he believes Tesla has weathered the chip shortage crisis relatively well, but the auto industry will still be affected at least in the first quarter of 2022.</p><p>\"I still think that in the first quarter of next year, the chip shortage will be a challenge. But I also think that this problem will be alleviated in the next 12 months. By some time next year, it will all be solved.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/628590.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f76b3cc53dd60ecb6eab407da188d689","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.zhitongcaijing.com/content/detail/628590.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1125940737","content_text":"眼下，特斯拉只需扫清最后的障碍，其德国柏林超级工厂就有望在2022年实现量产。\n特斯拉德国超级工厂面临的最后一道障碍来自当地环保组织。据悉，当地环保组织负责人表示，特斯拉超级工厂所在地的Eggersdorf waterworks水厂每年从地下抽取将近400万立方的水，然而特斯拉工厂将占有大部分的用量，将势必影响到周边相关的居民的生活用水以及其余工业用水的使用。\n当地环保组织控诉州政府在未经过相关测试就批复了Eggersdorf waterworks水厂提高抽水率的计划，迫使当地政府不得不召开相关听证会处理该问题。而原本计划在本月早些时候召开的听证会被无故延期至12月底，导致特斯拉超级工厂在2021年实现量产的希望再度破灭。\n对于特斯拉而言，德国超级工厂能够实现全面运营是该公司未来的关键组成部分。Wedbush董事总经理Dan Ives表示：“德国超级工厂是特斯拉2022年及以后扩大产能计划的关键。对于该工厂来说，关键是要在明年1月初开始生产汽车。”“繁文缛节太多了，他们没有想到要花三个月的时间来讨论如何砍伐树木。”\n举步维艰\n尽管建设进展迅速，但特斯拉德国超级工厂项目自启动以来便一路坎坷。除了需要面对当地环保组织的挑战以外，冗长的政府行政许可流程已经使得特斯拉满腹牢骚。此外，特斯拉近期扩大工厂范围、并将在其附近建设一个电池级锂工厂的决定也招致了一些批评。\n在环保方面，特斯拉面对着从最初的饮用水污染到砍伐树木、噪音，再到影响土壤中的蚂蚁搬家、森林中的蝙蝠和蛇冬眠等众多问题。目前看地下水问题已经成为了燃眉之急，同时当地环保组织仍在不懈努力地抗议该工厂对于周边居民生活环境的影响以此要求汽车制造商遵循当地严苛的环保要求，他们斥责特斯拉与德国的商业文化相悖。\n德国媒体称环保问题将再度迫使特斯拉德国工厂量产延期至2022年年初，目前特斯拉需要为该听证会准备更多的书面材料以便应对相关的控诉。\n不过，作为对当地经济和就业的一个利好，特斯拉超级工厂还是得到了很多支持。该项目预计未来几年将创造多达4万个就业岗位，工厂所在地格伦海德(Gruenheide)镇长称这是刺激当地经济“千载难逢的机会”。\n作为特斯拉的投资者，资管公司Gerber Kawasaki的首席执行官Ross Gerber表示，他不太担心特斯拉所面临的障碍。“从我们知道该工厂很快就会开工的角度来看，这不是一个大问题。”“我们非常看好欧洲市场，对特斯拉的需求量很大。”\n欧洲市场\nGartner汽车行业分析师Pedro Pacheco表示，虽然特斯拉德国超级工厂的影响将是渐近的，但意义重大。“我认为最直接的区别在于产能。从制造的角度来看，特斯拉将拥有更多可用产能，对其欧洲客户的交付期将缩短。”\n他还补充称，如果特斯拉在开发针对欧洲市场设计的新车型时，德国超级工厂将有着“至关重要”的作用。“德国是世界上最主要的汽车强国之一，同时也是欧洲的主要汽车强国。因此，如果你想利用欧洲的人才，你就必须来到德国。”\n特斯拉可能需要面对的另一个迫在眉睫的问题，是全球供应链持续中断和芯片短缺，这对整个汽车行业造成了沉重打击。Ross Gerber表示，他认为特斯拉已经相对较好地度过了芯片短缺危机，但至少在2022年第一季度，汽车行业仍将受影响。\n“我仍然认为明年第一季度，芯片短缺将是一项挑战。但我也认为，这个问题将在未来12个月得到缓解。到明年的某个时候，这一切都会迎刃而解。”","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9000467963,"gmtCreate":1640267694889,"gmtModify":1676533513312,"author":{"id":"3582212677594923","authorId":"3582212677594923","name":"Diaschy86","avatar":"https://static.tigerbbs.com/023e36d76d8f4434c4ca55ea9d316933","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582212677594923","idStr":"3582212677594923"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9000467963","repostId":"1193043649","repostType":4,"repost":{"id":"1193043649","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640266303,"share":"https://ttm.financial/m/news/1193043649?lang=en_US&edition=fundamental","pubTime":"2021-12-23 21:31","market":"us","language":"zh","title":"205,000 U.S. initial jobless claims last week","url":"https://stock-news.laohu8.com/highlight/detail?id=1193043649","media":"老虎资讯综合","summary":"12月23日，美国上周首次申领失业救济人数为20.5万人，预估为20.5万人，前值为20.6万人。\n机构评美国上周初请失业金人数数据：美国上周初请失业金人数变动不大，暗示随着就业市场继续复苏，裁员人数","content":"<p>On December 23, the number of people applying for unemployment benefits for the first time in the United States last week was 205,000, compared with the estimate of 205,000, and the previous value of 206,000.</p><p>Agency comments on data on the number of initial jobless claims in the United States last week: The number of initial jobless claims in the United States changed little last week, suggesting that as the job market continues to recover, the number of layoffs is at a historically low level. The data was largely unchanged from the previous week. The report highlights low job losses in recent months as employers focus on attracting and retaining employees to keep pace with consumer demand. Claims for unemployment benefits are broadly in line with pre-pandemic levels, reflecting a tight U.S. labor market. Still, rising Covid cases pose a risk to hiring prospects as the Omicron strain spreads.</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>205,000 U.S. initial jobless claims last week</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\">\n205,000 U.S. initial jobless claims last week\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-12-23 21:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On December 23, the number of people applying for unemployment benefits for the first time in the United States last week was 205,000, compared with the estimate of 205,000, and the previous value of 206,000.</p><p>Agency comments on data on the number of initial jobless claims in the United States last week: The number of initial jobless claims in the United States changed little last week, suggesting that as the job market continues to recover, the number of layoffs is at a historically low level. The data was largely unchanged from the previous week. The report highlights low job losses in recent months as employers focus on attracting and retaining employees to keep pace with consumer demand. Claims for unemployment benefits are broadly in line with pre-pandemic levels, reflecting a tight U.S. labor market. Still, rising Covid cases pose a risk to hiring prospects as the Omicron strain spreads.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5712911a97692958e444016d45d93118","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193043649","content_text":"12月23日，美国上周首次申领失业救济人数为20.5万人，预估为20.5万人，前值为20.6万人。\n机构评美国上周初请失业金人数数据：美国上周初请失业金人数变动不大，暗示随着就业市场继续复苏，裁员人数处于历史低位。该数据与前一周基本持平。该报告凸显出近几个月失业人数较低，因雇主专注于吸引和留住员工，以跟上消费者需求的步伐。申请失业金人数与疫情前的水平大体一致，反映了美国劳动力市场的紧张。尽管如此，随着奥密克戎毒株的传播，新冠病例的增加对招聘前景构成了风险。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2546,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}