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chokim

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- chokimchokim
  ·2021-06-29
  cool@MaxWin
  Extending cooperation with Tesla, where is the next threshold in the Ningde era?
  特斯拉，战船or贼船？ 6月29日收盘，宁德时代股价上涨2.96%，至508.51元，总市值达到1.18万亿元。受益于中国电动汽车市场快速增长，电池和新能源汽车制造商股票继续拉升，动力电池龙头宁德
  Extending cooperation with Tesla, where is the next threshold in the Ningde era?
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- chokimchokim
  ·2021-06-27
  Happy day to huat
  280,000 units! The largest recall in Tesla's history, automatically accelerated into a real hammer?
  国家市场监督管理总局昨天发布了特斯拉的召回通知：共计285520辆Model 3和Model Y由于可能存在车辆「速度突增」的隐患，将通过OTA的方式在线召回。这也是官方首次宣布特斯拉可能存在突然加速的隐患。6月26日，国家市场监督管理总局发布通告称，特斯拉将召回211,256 辆国产Model 3和38,599辆国产Model Y，以及35,665辆进口Model 3。目前，总部位于加利福尼亚州帕洛阿尔托的特斯拉公司还没有回复。特斯拉随后在其官方微博上也发表了相关声明。
  280,000 units! The largest recall in Tesla's history, automatically accelerated into a real hammer?
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- chokimchokim
  ·2021-06-21
  co
  The Fed's "rate hike" is 5 basis points, and the market will have a "money shortage"?
  上周，美联储意外官宣“加息”，将联邦基金利率区间的上限——超额准备金利率（IOER）从0.10%上调至0.15%，并将联邦基金利率区间的下限——隔夜逆回购利率（ON RRP）从零上调至0.05%。在
  The Fed's "rate hike" is 5 basis points, and the market will have a "money shortage"?
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- chokimchokim
  ·2021-06-15
  Cool
  Summary of news from "News Network" on June 15th
  6月15日讯，今天《新闻联播》主要内容有： 1、广东汕尾依托红色资源推动老区乡村振兴。 2、我国新冠疫苗接种突破9亿剂次。 3、中国已向40多个国家和地区出口疫苗。 4、国家卫生健康委通报最新疫情：
  Summary of news from "News Network" on June 15th
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Closing on June 29,<a href=\"https://laohu8.com/S/300750\">Ningde era</a>Shares rose 2.96% to 508.51 yuan, bringing the total market value to 1.18 trillion yuan.</p><p>Benefiting from the rapid growth of China's electric vehicle market, the stocks of battery and new energy vehicle manufacturers continued to rise. The stock price of power battery leader CATL rose 3.71% on Monday, breaking through the 500 yuan mark and hitting a record high.<b>Since March, CATL's stock price has risen by more than 70%</b>。</p><p><img src=\"https://static.tigerbbs.com/a565104130fe40c7bf7521e6bc9bc2d9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>This wave of rise in CATL stems from the further deepening of cooperation with Tesla.</b></p><p>In order to further extend and deepen the friendly cooperative relationship with Tesla, CATL reached an agreement with Tesla to provide lithium batteries to its Chinese production plant for another 30 months.</p><p><img src=\"https://static.tigerbbs.com/0506c7fb82af3cc9eeccdeca58ca35e7\" tg-width=\"831\" tg-height=\"454\" referrerpolicy=\"no-referrer\"></p><p>This will continue a contract signed with Tesla last February, extending the supplier relationship for 2.5 years. The last contract will be valid in June 2022.</p><p>However, the specific number of batteries supplied was not disclosed in the agreement, and the final sale is subject to the actual settlement of the purchase order issued by Tesla. Contemporary Amperex Technology Co., Limited will recognize revenue in relevant years based on the performance of the agreement, which is expected to have a positive impact on the company's operating performance in relevant years.</p><p>The company said in the announcement: \"<b>The signing of the agreement represents Tesla's further recognition of the company's power battery product quality and production capacity</b>, helps to strengthen the long-term and stable cooperative relationship between the company and Tesla, which is in the interests of the company and shareholders. \"</p><p><b>01. Power battery leader, strong rising logic</b></p><p>The cooperation between CATL and Tesla has been consolidated, and the new agreement means that the volume of supplies to Tesla has increased. Considering the higher demand from downstream manufacturers, CATL's profit expectations have also risen.</p><p>Some brokerages predict that CATL's net profit in 2021 will reach 11 billion yuan (about 1.7 billion US dollars), which is 10% higher than the previously estimated 10 billion yuan; At the same time, CATL's share price could rise another 18% to RMB 600.</p><p><img src=\"https://static.tigerbbs.com/1892a946fd5e43312e5636e3fdfc2149\" tg-width=\"830\" tg-height=\"474\" referrerpolicy=\"no-referrer\"></p><p>The prosperity of the power battery track is in the climbing stage. Only by supplying a large number of power batteries can the rapid growth of the new energy vehicle track be maintained. Therefore, sometimes before a new power battery factory is built, its production capacity will be snapped up by OEMs.</p><p>However, in this announcement, CATL only mentioned that Tesla will \"purchase lithium-ion power batteries\".<b>The specific chemical composition and technical route of these batteries were not disclosed</b>。</p><p>The previous phase of the agreement between CATL and Tesla was signed in February 2020 and is scheduled to expire in June 2022. The previous stage of cooperation between the two parties played an important role in Tesla's localization. Tesla's domestically produced Model 3 standard battery life version uses lithium iron phosphate batteries produced by CATL.</p><p>Before entering the Chinese market, Tesla only approved<a href=\"https://laohu8.com/S/PC\">Panasonic</a>As an electric vehicle battery supplier. The self-developed battery announced at Tesla Battery Day last year also followed the shape of Panasonic's cylindrical battery. With the commissioning of the Shanghai factory, Tesla began to include other suppliers in the supply chain, including LG Chem (now known as LG Energy Solutions) and CATL. The two rank first and second in the global market share respectively.</p><p><img src=\"https://static.tigerbbs.com/432530bd5abfb5f0d5054d7c73c48003\" tg-width=\"830\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p><p>With the rapid development of the electric vehicle industry, China will gradually introduce further laws and policies to guide the healthy and green development of the industry. According to the \"Automotive Industry Work Plan\" released by the Ministry of Industry and Information Technology on the 16th, China will support the innovative development of electric batteries and promote research on universal electric battery replacement platforms, battery cores and accessory standards. In addition, standards for battery recycling service networks will be developed.</p><p><b>02. Tesla, warship or pirate ship?</b></p><p>On New Year's Day in 2021, when Tesla's second mass-produced domestic Model Y was launched, the market demand for this car was very strong, and a large number of orders were received. So on the first day of opening after New Year's Day, CATL's stock price soared 15%.</p><p>But just as CATL reached an extension agreement,<b>Tesla is facing various challenges in the world's largest electric vehicle market</b>。</p><p>In the past 12 months, Volkswagen has sold twice as many electric vehicles in Europe as Tesla, and its lead continues to grow. At the same time, Tesla fell to fifth place with sales of 102,500 vehicles, and was<a href=\"https://laohu8.com/S/0NQF.UK\">Renault</a>Nissan, Hyundai-Kia and Stellantis easily overtake.</p><p><img src=\"https://static.tigerbbs.com/b85d254bcc4d9a8cbe929a2ff33f462b\" tg-width=\"830\" tg-height=\"346\" referrerpolicy=\"no-referrer\"></p><p>Since entering the European market in 2013, Tesla has been the most popular electric vehicle brand in Europe, with a market share of more than 30% in 2019.<b>However, Tesla's market share in Europe has dropped to 13% by 2020</b>。</p><p>At present, Tesla still only sells Model S, Model X and Model 3 models in Europe, and its controversial Grünheide German factory shows little sign of opening soon. The road to localized production is still long.</p><p>However, Tesla's cumulative registration volume still ranks first in Europe.</p><p><img src=\"https://static.tigerbbs.com/1df05f21488591abb7f708156521ea65\" tg-width=\"831\" tg-height=\"500\" referrerpolicy=\"no-referrer\"></p><p><b>In the Chinese market, Tesla is not having a good time either</b>。 Since April this year, Tesla has fallen into a public relations crisis for consumer rights protection. Some car owners accused it of safety problems, but Tesla denied it.</p><p>On June 26, Chinese authorities further stated that Tesla would recall about 285,000 electric vehicles in China because the cruise control function could be activated unexpectedly, causing the car to accelerate suddenly, posing a safety hazard. The recall involves 211,000 domestically produced Model 3, 38,600 domestically produced Model Y, and 35,700 imported Model 3.</p><p>Mid-May this year<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Passenger car retail sales reached 185,000 units, of which Tesla's retail sales in May were 21,936 units, accounting for approximately 11.9%, lower than SAIC-GM-Wuling and<a href=\"https://laohu8.com/S/002594\">BYD</a>。 Moreover, a large part of Tesla's May orders were contributed by export orders, while domestic orders in China plummeted to about 9,800 vehicles. According to data from the China Passenger Car Industry Association, Tesla delivered 25,800 vehicles and 35,500 vehicles from March to April respectively.</p><p>The sharp drop could lead to a record low for Tesla's deliveries in China this year.<b>And if Tesla's market share further declines, the revenue brought to CATL will also decrease accordingly</b>。</p><p><b>03. CATL will not be trapped</b></p><p><b>As an upstream supplier, if you rely too much on a certain customer, it may lead to increased business risks.</b></p><p>Thanks to being<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Incorporated into the supply chain, lens component suppliers<a href=\"https://laohu8.com/S/002456\">OFILM</a>It has received rich returns. From 2018 to 2020, OFILM's revenue from Apple reached 8.33 billion, 11.72 billion, and 14.51 billion yuan respectively, showing an increasing phenomenon year by year. OFILM's annual revenue in 2019 was only 51.9 billion, which means that Apple alone has accounted for 1/5 of its total revenue.</p><p>After Apple stopped some cooperation, OFILM's related business also declined significantly.</p><p><b>However, the situation of CATL is completely different. It has many downstream customers and strong bargaining power in the face of upstream.</b></p><p>Currently, CATL's battery packs are used in most EV brands. In addition to providing batteries to Tesla, CATL's customers also include electric vehicle manufacturers such as BMW, Volkswagen and Geely. Among these customers, there are many rivals of Tesla.</p><p><img src=\"https://static.tigerbbs.com/943291e18fc92ec351352d52d009494c\" tg-width=\"829\" tg-height=\"479\" referrerpolicy=\"no-referrer\"></p><p>In August last year, CATL and<a href=\"https://laohu8.com/S/NIO\">Nio</a>Automotive, Financial Services Group<a href=\"https://laohu8.com/S/01788\">Guotai Junan International</a>, Hubei Science and Technology Investment Group established a joint venture Weineng Battery Asset Management Company to lease battery packs from car owners by establishing battery replacement stations across China. According to news on June 29, Louis Navellier, chief investment officer of fund management company Navellier, said that Chinese electric vehicle manufacturer Nio will surpass Tesla and become China's largest electric vehicle company.</p><p>On the upstream side, Contemporary Amperex Technology Co., Limited controls costs through the vertical integration of the industrial chain. Under the model of \"controlling key raw materials + exporting formulas + material factory OEM\", the company has the initiative in pricing materials.</p><p>In May, Ningde Times and its subsidiaries Ningde Kaixin,<a href=\"https://laohu8.com/S/002145\">CNC titanium dioxide</a>Signed an agreement, and the agreement with the former locked in the corresponding quantity of electrolyte products with a consumption of 15,000 tons of lithium hexafluorophosphate; It agreed with the latter to jointly invest and establish Baiyin CNNC Times New Energy Co., Ltd. to promote the investment, construction, and operation of comprehensive smart new energy projects such as photovoltaics, wind power, and energy storage.</p><p><img src=\"https://static.tigerbbs.com/4ee6ac7d7bc8ddf02cfb33f0a3af8e22\" tg-width=\"831\" tg-height=\"416\" referrerpolicy=\"no-referrer\"></p><p>The market has expected this, believing that CATL will begin to compete for the production capacity of midstream material manufacturers amid the rising price of lithium battery materials.</p><p>In addition, CATL will release sodium batteries around July 2021. The announcement of the new technology route at this time can not only suppress the growth expectation of lithium demand, but also avoid unilateral bets on lithium battery materials, turn passivity into initiative, and open the growth curve of the new technology route.</p><p>CATL also emphasized in this announcement that,<b>The performance of the agreement will not adversely affect the company's business independence, and the company will not form a significant dependence on customers</b>。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Extending cooperation with Tesla, where is the next threshold in the Ningde era?</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\">\nExtending cooperation with Tesla, where is the next threshold in the Ningde era?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/3\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/5d7d04eb4f16b0013ed2c39f71b84b6c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">格隆汇投资学苑 </p>\n<p class=\"h-time smaller\">2021-06-29 18:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Battleship or pirate ship? Closing on June 29,<a href=\"https://laohu8.com/S/300750\">Ningde era</a>Shares rose 2.96% to 508.51 yuan, bringing the total market value to 1.18 trillion yuan.</p><p>Benefiting from the rapid growth of China's electric vehicle market, the stocks of battery and new energy vehicle manufacturers continued to rise. The stock price of power battery leader CATL rose 3.71% on Monday, breaking through the 500 yuan mark and hitting a record high.<b>Since March, CATL's stock price has risen by more than 70%</b>。</p><p><img src=\"https://static.tigerbbs.com/a565104130fe40c7bf7521e6bc9bc2d9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>This wave of rise in CATL stems from the further deepening of cooperation with Tesla.</b></p><p>In order to further extend and deepen the friendly cooperative relationship with Tesla, CATL reached an agreement with Tesla to provide lithium batteries to its Chinese production plant for another 30 months.</p><p><img src=\"https://static.tigerbbs.com/0506c7fb82af3cc9eeccdeca58ca35e7\" tg-width=\"831\" tg-height=\"454\" referrerpolicy=\"no-referrer\"></p><p>This will continue a contract signed with Tesla last February, extending the supplier relationship for 2.5 years. The last contract will be valid in June 2022.</p><p>However, the specific number of batteries supplied was not disclosed in the agreement, and the final sale is subject to the actual settlement of the purchase order issued by Tesla. Contemporary Amperex Technology Co., Limited will recognize revenue in relevant years based on the performance of the agreement, which is expected to have a positive impact on the company's operating performance in relevant years.</p><p>The company said in the announcement: \"<b>The signing of the agreement represents Tesla's further recognition of the company's power battery product quality and production capacity</b>, helps to strengthen the long-term and stable cooperative relationship between the company and Tesla, which is in the interests of the company and shareholders. \"</p><p><b>01. Power battery leader, strong rising logic</b></p><p>The cooperation between CATL and Tesla has been consolidated, and the new agreement means that the volume of supplies to Tesla has increased. Considering the higher demand from downstream manufacturers, CATL's profit expectations have also risen.</p><p>Some brokerages predict that CATL's net profit in 2021 will reach 11 billion yuan (about 1.7 billion US dollars), which is 10% higher than the previously estimated 10 billion yuan; At the same time, CATL's share price could rise another 18% to RMB 600.</p><p><img src=\"https://static.tigerbbs.com/1892a946fd5e43312e5636e3fdfc2149\" tg-width=\"830\" tg-height=\"474\" referrerpolicy=\"no-referrer\"></p><p>The prosperity of the power battery track is in the climbing stage. Only by supplying a large number of power batteries can the rapid growth of the new energy vehicle track be maintained. Therefore, sometimes before a new power battery factory is built, its production capacity will be snapped up by OEMs.</p><p>However, in this announcement, CATL only mentioned that Tesla will \"purchase lithium-ion power batteries\".<b>The specific chemical composition and technical route of these batteries were not disclosed</b>。</p><p>The previous phase of the agreement between CATL and Tesla was signed in February 2020 and is scheduled to expire in June 2022. The previous stage of cooperation between the two parties played an important role in Tesla's localization. Tesla's domestically produced Model 3 standard battery life version uses lithium iron phosphate batteries produced by CATL.</p><p>Before entering the Chinese market, Tesla only approved<a href=\"https://laohu8.com/S/PC\">Panasonic</a>As an electric vehicle battery supplier. The self-developed battery announced at Tesla Battery Day last year also followed the shape of Panasonic's cylindrical battery. With the commissioning of the Shanghai factory, Tesla began to include other suppliers in the supply chain, including LG Chem (now known as LG Energy Solutions) and CATL. The two rank first and second in the global market share respectively.</p><p><img src=\"https://static.tigerbbs.com/432530bd5abfb5f0d5054d7c73c48003\" tg-width=\"830\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p><p>With the rapid development of the electric vehicle industry, China will gradually introduce further laws and policies to guide the healthy and green development of the industry. According to the \"Automotive Industry Work Plan\" released by the Ministry of Industry and Information Technology on the 16th, China will support the innovative development of electric batteries and promote research on universal electric battery replacement platforms, battery cores and accessory standards. In addition, standards for battery recycling service networks will be developed.</p><p><b>02. Tesla, warship or pirate ship?</b></p><p>On New Year's Day in 2021, when Tesla's second mass-produced domestic Model Y was launched, the market demand for this car was very strong, and a large number of orders were received. So on the first day of opening after New Year's Day, CATL's stock price soared 15%.</p><p>But just as CATL reached an extension agreement,<b>Tesla is facing various challenges in the world's largest electric vehicle market</b>。</p><p>In the past 12 months, Volkswagen has sold twice as many electric vehicles in Europe as Tesla, and its lead continues to grow. At the same time, Tesla fell to fifth place with sales of 102,500 vehicles, and was<a href=\"https://laohu8.com/S/0NQF.UK\">Renault</a>Nissan, Hyundai-Kia and Stellantis easily overtake.</p><p><img src=\"https://static.tigerbbs.com/b85d254bcc4d9a8cbe929a2ff33f462b\" tg-width=\"830\" tg-height=\"346\" referrerpolicy=\"no-referrer\"></p><p>Since entering the European market in 2013, Tesla has been the most popular electric vehicle brand in Europe, with a market share of more than 30% in 2019.<b>However, Tesla's market share in Europe has dropped to 13% by 2020</b>。</p><p>At present, Tesla still only sells Model S, Model X and Model 3 models in Europe, and its controversial Grünheide German factory shows little sign of opening soon. The road to localized production is still long.</p><p>However, Tesla's cumulative registration volume still ranks first in Europe.</p><p><img src=\"https://static.tigerbbs.com/1df05f21488591abb7f708156521ea65\" tg-width=\"831\" tg-height=\"500\" referrerpolicy=\"no-referrer\"></p><p><b>In the Chinese market, Tesla is not having a good time either</b>。 Since April this year, Tesla has fallen into a public relations crisis for consumer rights protection. Some car owners accused it of safety problems, but Tesla denied it.</p><p>On June 26, Chinese authorities further stated that Tesla would recall about 285,000 electric vehicles in China because the cruise control function could be activated unexpectedly, causing the car to accelerate suddenly, posing a safety hazard. The recall involves 211,000 domestically produced Model 3, 38,600 domestically produced Model Y, and 35,700 imported Model 3.</p><p>Mid-May this year<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Passenger car retail sales reached 185,000 units, of which Tesla's retail sales in May were 21,936 units, accounting for approximately 11.9%, lower than SAIC-GM-Wuling and<a href=\"https://laohu8.com/S/002594\">BYD</a>。 Moreover, a large part of Tesla's May orders were contributed by export orders, while domestic orders in China plummeted to about 9,800 vehicles. According to data from the China Passenger Car Industry Association, Tesla delivered 25,800 vehicles and 35,500 vehicles from March to April respectively.</p><p>The sharp drop could lead to a record low for Tesla's deliveries in China this year.<b>And if Tesla's market share further declines, the revenue brought to CATL will also decrease accordingly</b>。</p><p><b>03. CATL will not be trapped</b></p><p><b>As an upstream supplier, if you rely too much on a certain customer, it may lead to increased business risks.</b></p><p>Thanks to being<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Incorporated into the supply chain, lens component suppliers<a href=\"https://laohu8.com/S/002456\">OFILM</a>It has received rich returns. From 2018 to 2020, OFILM's revenue from Apple reached 8.33 billion, 11.72 billion, and 14.51 billion yuan respectively, showing an increasing phenomenon year by year. OFILM's annual revenue in 2019 was only 51.9 billion, which means that Apple alone has accounted for 1/5 of its total revenue.</p><p>After Apple stopped some cooperation, OFILM's related business also declined significantly.</p><p><b>However, the situation of CATL is completely different. It has many downstream customers and strong bargaining power in the face of upstream.</b></p><p>Currently, CATL's battery packs are used in most EV brands. In addition to providing batteries to Tesla, CATL's customers also include electric vehicle manufacturers such as BMW, Volkswagen and Geely. Among these customers, there are many rivals of Tesla.</p><p><img src=\"https://static.tigerbbs.com/943291e18fc92ec351352d52d009494c\" tg-width=\"829\" tg-height=\"479\" referrerpolicy=\"no-referrer\"></p><p>In August last year, CATL and<a href=\"https://laohu8.com/S/NIO\">Nio</a>Automotive, Financial Services Group<a href=\"https://laohu8.com/S/01788\">Guotai Junan International</a>, Hubei Science and Technology Investment Group established a joint venture Weineng Battery Asset Management Company to lease battery packs from car owners by establishing battery replacement stations across China. According to news on June 29, Louis Navellier, chief investment officer of fund management company Navellier, said that Chinese electric vehicle manufacturer Nio will surpass Tesla and become China's largest electric vehicle company.</p><p>On the upstream side, Contemporary Amperex Technology Co., Limited controls costs through the vertical integration of the industrial chain. Under the model of \"controlling key raw materials + exporting formulas + material factory OEM\", the company has the initiative in pricing materials.</p><p>In May, Ningde Times and its subsidiaries Ningde Kaixin,<a href=\"https://laohu8.com/S/002145\">CNC titanium dioxide</a>Signed an agreement, and the agreement with the former locked in the corresponding quantity of electrolyte products with a consumption of 15,000 tons of lithium hexafluorophosphate; It agreed with the latter to jointly invest and establish Baiyin CNNC Times New Energy Co., Ltd. to promote the investment, construction, and operation of comprehensive smart new energy projects such as photovoltaics, wind power, and energy storage.</p><p><img src=\"https://static.tigerbbs.com/4ee6ac7d7bc8ddf02cfb33f0a3af8e22\" tg-width=\"831\" tg-height=\"416\" referrerpolicy=\"no-referrer\"></p><p>The market has expected this, believing that CATL will begin to compete for the production capacity of midstream material manufacturers amid the rising price of lithium battery materials.</p><p>In addition, CATL will release sodium batteries around July 2021. The announcement of the new technology route at this time can not only suppress the growth expectation of lithium demand, but also avoid unilateral bets on lithium battery materials, turn passivity into initiative, and open the growth curve of the new technology route.</p><p>CATL also emphasized in this announcement that,<b>The performance of the agreement will not adversely affect the company's business independence, and the company will not form a significant dependence on customers</b>。</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/983e0432c72ee1117f6c5b8a19ed6e25","relate_stocks":{"300750":"宁德时代","TSLA":"特斯拉"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104219503","content_text":"特斯拉，战船or贼船？\n\n6月29日收盘，宁德时代股价上涨2.96%，至508.51元，总市值达到1.18万亿元。\n受益于中国电动汽车市场快速增长，电池和新能源汽车制造商股票继续拉升，动力电池龙头宁德时代股价于周一上涨3.71%，突破500元关口，创下历史新高。3月份至今，宁德时代股价已经涨超70%。\n\n宁德时代这波上涨源于与特斯拉合作的进一步深化。\n为了进一步延伸和深化与特斯拉的友好合作关系，宁德时代与特斯拉达成协议，将向其中国生产厂提供锂电池，期限再延长30个月。\n\n这将延续去年2月与特斯拉签署的一份合同，将供应商关系延长了2.5年。上一份合同有效期将于2022年6月结束。\n但供应的具体电池数量并没有在协议中透露，最终销售以特斯拉发出的采购订单的实际结算为准。宁德时代将根据协议履行情况在相关年度确认收入，预计对公司相关年度的经营业绩产生积极影响。\n公司在公告中称：“协议的签订表示特斯拉对公司动力电池的产品质量和生产能力的进一步认可，有助于强化公司与特斯拉之间长期稳定的合作关系，符合公司和股东的利益。”\n01、动力电池龙头，上涨逻辑强劲\n宁德时代与特斯拉的合作已得到巩固，新协议意味着向特斯拉供应的量有所增加。考虑到下游制造商更高的需求，宁德时代的盈利预期也随之水涨船高。\n有券商预测，宁德时代2021年的净利润将达到110亿元（约合17亿美元），较此前预计的100亿元高出10%；与此同时，宁德时代股价可能再上涨18%至人民币600元。\n\n动力电池赛道景气度正在爬坡阶段。大量动力电池电池供应，才能保持新能源汽车赛道的高速增长。因此，有时新的动力电池厂还没建成，其产能就会被主机厂抢购一空。\n但在此次公告中，宁德时代仅仅提及特斯拉将“采购锂离子动力电池”，没有透露这些电池具体的化学成分、技术路线。\n宁德时代与特斯拉上一阶段的协议签署于2020年2月，按计划将于2022年6月到期。双方的上一阶段合作，对特斯拉本土化起到了重要作用，特斯拉国产Model 3标准续航版使用的就是宁德时代生产的磷酸铁锂电池。\n在进入中国市场之前，特斯拉只批准松下作为电动汽车电池供应商。在去年特斯拉电池日上公布的自研电池，也沿袭了松下圆柱电池的外形。而随着上海工厂的投产，特斯拉开始在供应链中纳入其他供应商，包括LG化学（现称LG能源解决方案）和宁德时代。二者分别位列全球市占率一、二名。\n\n随着电动汽车行业的快速发展，中国逐还将进一步出台法规政策，引导行业健康发展、绿色发展。根据工业和信息化部16日发布的《汽车行业工作方案》，中国将支持电动电池创新发展，推进通用电动电池更换平台、电池核心和配件标准研究。此外，还将制定电池回收服务网络的标准。\n02、特斯拉，战船or贼船？\n2021年元旦，特斯拉第二款量产国产Model Y上市时，市场对这款车的需求非常旺盛，获得了大量订单。于是在元旦节后开盘首日，宁德时代股价暴涨15%。\n但就在于宁德时代达成延长协议之际，特斯拉正面临全球最大电动汽车市场的各种挑战。\n过去12个月，大众在欧洲电动汽车销量，比特斯拉高一倍，而且领先优势还在继续增长。与此同时，特斯拉以10.25万辆的销量下滑至第五位，被雷诺日产、现代·起亚和Stellantis轻松超越。\n\n自2013年进入欧洲市场，特斯拉一直是欧洲最受欢迎的电动汽车品牌，市场占有率在2019年曾一度超过30%。然而到2020年特斯拉在欧洲的市场占有率已降至13%。\n目前特斯拉在欧洲仍只销售Model S、Model X和Model 3三款车型，其备受争议的Grünheide德国工厂也几乎没有很快开业的迹象，本土化生产的道路依旧漫长。\n不过特斯拉累计注册量仍然排名欧洲第一。\n\n在中国市场，特斯拉也不太好过。从今年4月份开始，特斯拉就陷入了消费者维权公关危机。有车主指责其安全性存在问题，但遭到特斯拉否认。\n6月26日，中国有关部门进一步表示，特斯拉将在中国召回约28.5万辆电动汽车，因为巡航控制功能可能会意外启动，导致汽车突然加速，造成安全隐患。此次召回涉及21.1万辆国产Model 3、3.86万辆国产Model Y、3.57万辆进口版Model 3。\n今年5月中国新能源乘用车零售销量达18.5万辆，其中特斯拉5月零售销量为21,936辆，占比约为11.9%，低于上汽通用五菱和比亚迪。而且特斯拉的5月份订单中，很大一部分由出口订单贡献，而中国本土订单暴跌至约9,800辆。中国乘用车行业协会数据显示，3~4月特斯拉交付量分别为2.58万辆和3.55万辆。\n这一大幅下降可能导致特斯拉今年在中国的交付量创下历史新低。而如果特斯拉市场份额进一步下降，给宁德时代带来的营收也会相应减少。\n03、宁德时代不会被套\n作为上游供应商，如果太过于依赖某个客户，可能会导致经营风险增加。\n得益于被苹果纳入供应链，镜头元器件供应商欧菲光得到了丰厚回报，2018年~2020年，欧菲光从苹果拿到的营收分别达83.3亿、117.2亿、145.1亿元，呈现逐年递增的现象。欧菲光在2019年的全年营收也才仅仅只有519亿，这也就意味着光是苹果这边的就已经占据了其总营收的1/5。\n而在苹果停止部分合作之后，欧菲光相关业务也明显下滑。\n不过宁德时代的处境截然不同，其下游客户众多，且面对上游议价权较强。\n目前，宁德时代的电池组用于大多数电动汽车品牌。除了为特斯拉提供电池以外，宁德时代客户还包括宝马、大众和吉利等电动汽车制造商。这些客户中，不乏特斯拉的劲敌。\n\n去年8月，宁德时代与蔚来汽车、金融服务集团国泰君安国际、湖北科技投资集团组建了合资企业蔚能电池资产管理公司，通过在中国各地建立电池更换站，向车主租赁电池组。6月29日消息，基金管理公司Navellier首席投资官Louis Navellier表示，中国电动汽车制造商蔚来将超越特斯拉，成为中国最大的电动汽车企业。\n在上游方面，宁德时代通过产业链纵向一体化布局从而控制成本，在“控制关键原材料+输出配方+材料厂代工”模式下，公司对材料具备定价主动权。\n5月份，宁德时代分别与子公司宁德凯欣、中核钛白签订协议，与前者的协议锁定了六氟磷酸锂使用量为1.5万吨的对应数量电解液产品；与后者约定共同出资，设立白银中核时代新能源有限公司，以推进光伏、风电、储能等综合智慧新能源项目的投资、建设、运营。\n\n对此市场已有预期，认为宁德时代将在锂电池材料涨价潮中，开始争夺中游材料厂商产能。\n此外，宁德时代将于2021年7月前后发布钠电池。此时公布新技术路线，不仅可以打压锂需求增长预期，也可以避免对锂电池材料单方面下注，化被动为主动，开启新技术路线增长曲线。\n宁德时代在本次公告中也强调，协议的履行不会对公司的业务独立性构成不利影响，公司不会因此对客户形成重大依赖。","news_type":1,"symbols_score_info":{"300750":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2656,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3586854163859420","authorId":"3586854163859420","name":"chokim","avatar":"https://static.tigerbbs.com/77a59d5fd58cc0342b778ebfba10c3af","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3586854163859420","idStr":"3586854163859420"},"content":"Good","text":"Good","html":"Good"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124538956,"gmtCreate":1624771264075,"gmtModify":1703844904937,"author":{"id":"3586854163859420","authorId":"3586854163859420","name":"chokim","avatar":"https://static.tigerbbs.com/77a59d5fd58cc0342b778ebfba10c3af","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586854163859420","idStr":"3586854163859420"},"themes":[],"htmlText":"Happy day to huat","listText":"Happy day to huat","text":"Happy day to huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/124538956","repostId":"1185056773","repostType":4,"repost":{"id":"1185056773","kind":"news","pubTimestamp":1624764660,"share":"https://ttm.financial/m/news/1185056773?lang=en_US&edition=fundamental","pubTime":"2021-06-27 11:31","market":"us","language":"zh","title":"280,000 units! The largest recall in Tesla's history, automatically accelerated into a real hammer?","url":"https://stock-news.laohu8.com/highlight/detail?id=1185056773","media":"新智元","summary":"国家市场监督管理总局昨天发布了特斯拉的召回通知：共计285520辆Model 3和Model Y由于可能存在车辆「速度突增」的隐患，将通过OTA的方式在线召回。这也是官方首次宣布特斯拉可能存在突然加速的隐患。6月26日，国家市场监督管理总局发布通告称，特斯拉将召回211,256 辆国产Model 3和38,599辆国产Model Y，以及35,665辆进口Model 3。目前，总部位于加利福尼亚州帕洛阿尔托的特斯拉公司还没有回复。特斯拉随后在其官方微博上也发表了相关声明。","content":"<p><b>[Guide]</b>The State Administration for Market Regulation issued a recall notice from Tesla yesterday: a total of 285,520 Model 3 and Model Y vehicles will be recalled online through OTA due to the potential danger of sudden increase in vehicle speed. This is also the first official announcement that Tesla may have the hidden danger of sudden acceleration.</p><p>The problem of brake failure has not been solved yet, and there is still the danger of sudden acceleration?</p><p>On June 26, the State Administration for Market Regulation issued a notice stating that Tesla would recall 211,256 domestically produced Model 3s and 38,599 domestically produced Model Ys, as well as 35,665 imported Model 3s.</p><p>Currently, Palo Alto, California-based Tesla has not responded.</p><p><img src=\"https://static.tigerbbs.com/d33576459c033e1b802f6283ee534e22\" tg-width=\"1080\" tg-height=\"653\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/e0464ce9d3562446bf973ff3653ba930\" tg-width=\"1080\" tg-height=\"537\" referrerpolicy=\"no-referrer\"></p><p>Tesla subsequently issued a relevant statement on its official Weibo.</p><p><img src=\"https://static.tigerbbs.com/71d05d9a2daf49dc7fa4d9b87e2c0e5f\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Interestingly, however, these two documents seem to say the same thing, but the expressions are completely different.</p><p>Supervision Bureau: Due to problems with the active cruise control system of vehicles within the scope of this recall, it is easy for drivers to mistakenly activate the active cruise function in the following situations.</p><p>Tesla: Because the active cruise control function may be mistakenly activated by the driver.</p><p>Supervision Bureau: This recall campaign was carried out when the State Administration for Market Regulation initiated a defect investigation. Affected by the investigation, Tesla Motors (Beijing) Co., Ltd. and Tesla (Shanghai) Co., Ltd. decided to take recall measures to eliminate potential safety hazards.</p><p>Tesla: Adhering to the attitude of being responsible to consumers, we took the initiative to file a recall plan with the State Administration for Market Regulation.</p><p><b>Active cruise misstart</b></p><p>The active cruise function of Tesla Model 3/Y is turned on by turning down the right gear lever once when the vehicle is in D gear.</p><p>After activating the active cruise function, the vehicle will speed up to the set speed or the same speed as the vehicle in front while maintaining a safe distance from the vehicle in front according to the current speed or road speed limit active cruise speed limit setting selected by the user.</p><p>The user can exit the active cruise function by toggling the right lever upward once or stepping on the brake.</p><p>After active cruise control is mistakenly activated, if the set cruising speed of the vehicle is not the current speed, and the current speed is lower than the set speed, the vehicle will accelerate to the set speed.</p><p>The sudden increase of vehicle speed will affect the driver's expectation and lead to misjudgment of vehicle control.</p><p>On January 6th, a netizen posted a video of active cruise being activated by mistake. Obviously, the car owner was completely confused about what was going on at that time.</p><p>A TikTok blogger demonstrated how Tesla entered active cruise mode with all assistance turned off.</p><p>Tesla said that this OTA recall can raise the threshold for activating active cruise control, and it has added reminders when active cruise control is activated and exited.</p><p><img src=\"https://static.tigerbbs.com/3a5f80e8e1f69769d64dea833f691ba4\" tg-width=\"620\" tg-height=\"349\" referrerpolicy=\"no-referrer\"></p><p><b>Quality issues?</b></p><p>According to the data, among the sales of Tesla vehicles produced locally at Tesla's Shanghai factory, the recalled vehicles made in China accounted for 93.7%.</p><p>The Wall Street Journal also questioned Tesla whether the quality was affected because the manufacturing speed was too fast, but there was no answer.</p><p>In February, Tesla was interviewed because of quality issues complained by consumers.</p><p><img src=\"https://static.tigerbbs.com/14e851bdb64d4e80403a999df7faf3f6\" tg-width=\"1080\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>In April, a consumer expressed a strong protest against Tesla at the Shanghai Auto Show, shouting accusations of Tesla's brake failure on the roof of the car.</p><p><img src=\"https://static.tigerbbs.com/fc8f628e28bbc1cf94da384ff9e1f62e\" tg-width=\"1080\" tg-height=\"332\" referrerpolicy=\"no-referrer\"></p><p>The Wall Street Journal said that Tesla's quality problems are no longer news.</p><p>Tesla has always been regarded as a prestigious brand in China, and Musk also said that China's fast-growing market will become the company's largest market.</p><p>Has there been some changes in this situation now? Not really.</p><p><b>Simple control logic</b></p><p>From the beginning of the design, Tesla has emphasized the human-computer interaction logic of \"subverting traditional models\", which is more vividly reflected in the Model 3.</p><p>The owner only needs to put the key in his trouser pocket, and he can pull the handle directly into the car. After sitting in the seat, he doesn't need to press the start button, and directly toggle the shift lever to move the vehicle forward.</p><p>Most of the physical buttons are eliminated in the car, even the instrument panel in front of the steering wheel. The driver only needs to interact with the vehicle through the large screen in the center.</p><p>This design concept has been implemented more thoroughly in the new Model S Plaid: all physical buttons in the car are cancelled, and all of them are controlled by touch, and the vehicle can even automatically judge whether to shift forward gear or reverse gear.</p><p>When it comes to the Autopilot function that Tesla is proud of, Tesla's operating logic can also be called subversion: although the shift lever comes from Mercedes-Benz, Tesla adheres to the simple function and integrates it with the shift lever. The lever is integrated together.</p><p>The cruise control functions of Mercedes-Benz models are securely integrated on the steering wheel or an independent control lever.</p><p>Some netizens also pointed out this hidden danger on a car vertical website forum before:</p><p>In order to highlight the intelligence of the vehicle, the cruise control function of Model 3 is different from that of traditional models: it will automatically set the speed to the maximum speed limit of the current road instead of the current driving speed, which will lead to automatic acceleration.</p><p>Admittedly, this helps to reduce the operation steps, but at the same time, when integrated with Tesla's special control method, it brings hidden dangers.</p><p><b>Pending Brake Door</b></p><p>The recall goes some way to explaining the previously reported issue with Tesla's automatic acceleration from an official perspective. However, the rights protection incident staged at the Shanghai Auto Show is still trapped in Rashomon.</p><p><img src=\"https://static.tigerbbs.com/782bafca8d6a9296edc64b3e1257668f\" tg-width=\"1080\" tg-height=\"648\" referrerpolicy=\"no-referrer\"></p><p>The owner of the auto show rights protection said: The vehicle was driving on the National Highway in Anyang, Henan Province at that time, and it rear-ended the vehicle in front due to the failure of the braking system.</p><p><img src=\"https://static.tigerbbs.com/9120fee1da02f4376d31743b8741d541\" tg-width=\"1080\" tg-height=\"778\" referrerpolicy=\"no-referrer\"></p><p>According to the official vehicle status monitoring information, there was no reasonable correspondence between the brake deceleration of the vehicle at that time and the pressure of the brake master cylinder.</p><p><img src=\"https://static.tigerbbs.com/d04230d5588379e2d85a114dc62a8c7c\" tg-width=\"1080\" tg-height=\"919\" referrerpolicy=\"no-referrer\"></p><p>Some professionals analyze that the road adhesion may be poor, while others question that Tesla's intelligent driving system has obtained too high authority, resulting in the iBooster electronic power braking device provided by Bosch failing to function effectively.</p><p>However, due to the current stalemate between the two sides, it seems that the real situation at that time can never surface.</p><p>After this online recall through OTA (over-the-air upgrade), Tesla's cruise control opening logic will change, and the system will give drivers more prompts.</p><p>Interestingly, both domestic new car manufacturers Ideal and XPeng vehicles adopt cruise system control logic very similar to Tesla.</p><p><img src=\"https://static.tigerbbs.com/03c51901d6c1963ab3572f0c7bf44cf0\" tg-width=\"1024\" tg-height=\"742\" referrerpolicy=\"no-referrer\"></p><p>Under the leadership of Tesla, a catfish, more and more models are now equipped with similar (or even richer) intelligent and automated functions. This recall also reminds other car manufacturers in the automobile industry: The premise of adding any intelligent and convenient facilities in the car should be safety.</p>","source":"lsy1569730104218","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>280,000 units! The largest recall in Tesla's history, automatically accelerated into a real hammer?</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\">\n280,000 units! The largest recall in Tesla's history, automatically accelerated into a real hammer?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新智元</strong><span class=\"h-time small\">2021-06-27 11:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>[Guide]</b>The State Administration for Market Regulation issued a recall notice from Tesla yesterday: a total of 285,520 Model 3 and Model Y vehicles will be recalled online through OTA due to the potential danger of sudden increase in vehicle speed. This is also the first official announcement that Tesla may have the hidden danger of sudden acceleration.</p><p>The problem of brake failure has not been solved yet, and there is still the danger of sudden acceleration?</p><p>On June 26, the State Administration for Market Regulation issued a notice stating that Tesla would recall 211,256 domestically produced Model 3s and 38,599 domestically produced Model Ys, as well as 35,665 imported Model 3s.</p><p>Currently, Palo Alto, California-based Tesla has not responded.</p><p><img src=\"https://static.tigerbbs.com/d33576459c033e1b802f6283ee534e22\" tg-width=\"1080\" tg-height=\"653\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/e0464ce9d3562446bf973ff3653ba930\" tg-width=\"1080\" tg-height=\"537\" referrerpolicy=\"no-referrer\"></p><p>Tesla subsequently issued a relevant statement on its official Weibo.</p><p><img src=\"https://static.tigerbbs.com/71d05d9a2daf49dc7fa4d9b87e2c0e5f\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Interestingly, however, these two documents seem to say the same thing, but the expressions are completely different.</p><p>Supervision Bureau: Due to problems with the active cruise control system of vehicles within the scope of this recall, it is easy for drivers to mistakenly activate the active cruise function in the following situations.</p><p>Tesla: Because the active cruise control function may be mistakenly activated by the driver.</p><p>Supervision Bureau: This recall campaign was carried out when the State Administration for Market Regulation initiated a defect investigation. Affected by the investigation, Tesla Motors (Beijing) Co., Ltd. and Tesla (Shanghai) Co., Ltd. decided to take recall measures to eliminate potential safety hazards.</p><p>Tesla: Adhering to the attitude of being responsible to consumers, we took the initiative to file a recall plan with the State Administration for Market Regulation.</p><p><b>Active cruise misstart</b></p><p>The active cruise function of Tesla Model 3/Y is turned on by turning down the right gear lever once when the vehicle is in D gear.</p><p>After activating the active cruise function, the vehicle will speed up to the set speed or the same speed as the vehicle in front while maintaining a safe distance from the vehicle in front according to the current speed or road speed limit active cruise speed limit setting selected by the user.</p><p>The user can exit the active cruise function by toggling the right lever upward once or stepping on the brake.</p><p>After active cruise control is mistakenly activated, if the set cruising speed of the vehicle is not the current speed, and the current speed is lower than the set speed, the vehicle will accelerate to the set speed.</p><p>The sudden increase of vehicle speed will affect the driver's expectation and lead to misjudgment of vehicle control.</p><p>On January 6th, a netizen posted a video of active cruise being activated by mistake. Obviously, the car owner was completely confused about what was going on at that time.</p><p>A TikTok blogger demonstrated how Tesla entered active cruise mode with all assistance turned off.</p><p>Tesla said that this OTA recall can raise the threshold for activating active cruise control, and it has added reminders when active cruise control is activated and exited.</p><p><img src=\"https://static.tigerbbs.com/3a5f80e8e1f69769d64dea833f691ba4\" tg-width=\"620\" tg-height=\"349\" referrerpolicy=\"no-referrer\"></p><p><b>Quality issues?</b></p><p>According to the data, among the sales of Tesla vehicles produced locally at Tesla's Shanghai factory, the recalled vehicles made in China accounted for 93.7%.</p><p>The Wall Street Journal also questioned Tesla whether the quality was affected because the manufacturing speed was too fast, but there was no answer.</p><p>In February, Tesla was interviewed because of quality issues complained by consumers.</p><p><img src=\"https://static.tigerbbs.com/14e851bdb64d4e80403a999df7faf3f6\" tg-width=\"1080\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>In April, a consumer expressed a strong protest against Tesla at the Shanghai Auto Show, shouting accusations of Tesla's brake failure on the roof of the car.</p><p><img src=\"https://static.tigerbbs.com/fc8f628e28bbc1cf94da384ff9e1f62e\" tg-width=\"1080\" tg-height=\"332\" referrerpolicy=\"no-referrer\"></p><p>The Wall Street Journal said that Tesla's quality problems are no longer news.</p><p>Tesla has always been regarded as a prestigious brand in China, and Musk also said that China's fast-growing market will become the company's largest market.</p><p>Has there been some changes in this situation now? Not really.</p><p><b>Simple control logic</b></p><p>From the beginning of the design, Tesla has emphasized the human-computer interaction logic of \"subverting traditional models\", which is more vividly reflected in the Model 3.</p><p>The owner only needs to put the key in his trouser pocket, and he can pull the handle directly into the car. After sitting in the seat, he doesn't need to press the start button, and directly toggle the shift lever to move the vehicle forward.</p><p>Most of the physical buttons are eliminated in the car, even the instrument panel in front of the steering wheel. The driver only needs to interact with the vehicle through the large screen in the center.</p><p>This design concept has been implemented more thoroughly in the new Model S Plaid: all physical buttons in the car are cancelled, and all of them are controlled by touch, and the vehicle can even automatically judge whether to shift forward gear or reverse gear.</p><p>When it comes to the Autopilot function that Tesla is proud of, Tesla's operating logic can also be called subversion: although the shift lever comes from Mercedes-Benz, Tesla adheres to the simple function and integrates it with the shift lever. The lever is integrated together.</p><p>The cruise control functions of Mercedes-Benz models are securely integrated on the steering wheel or an independent control lever.</p><p>Some netizens also pointed out this hidden danger on a car vertical website forum before:</p><p>In order to highlight the intelligence of the vehicle, the cruise control function of Model 3 is different from that of traditional models: it will automatically set the speed to the maximum speed limit of the current road instead of the current driving speed, which will lead to automatic acceleration.</p><p>Admittedly, this helps to reduce the operation steps, but at the same time, when integrated with Tesla's special control method, it brings hidden dangers.</p><p><b>Pending Brake Door</b></p><p>The recall goes some way to explaining the previously reported issue with Tesla's automatic acceleration from an official perspective. However, the rights protection incident staged at the Shanghai Auto Show is still trapped in Rashomon.</p><p><img src=\"https://static.tigerbbs.com/782bafca8d6a9296edc64b3e1257668f\" tg-width=\"1080\" tg-height=\"648\" referrerpolicy=\"no-referrer\"></p><p>The owner of the auto show rights protection said: The vehicle was driving on the National Highway in Anyang, Henan Province at that time, and it rear-ended the vehicle in front due to the failure of the braking system.</p><p><img src=\"https://static.tigerbbs.com/9120fee1da02f4376d31743b8741d541\" tg-width=\"1080\" tg-height=\"778\" referrerpolicy=\"no-referrer\"></p><p>According to the official vehicle status monitoring information, there was no reasonable correspondence between the brake deceleration of the vehicle at that time and the pressure of the brake master cylinder.</p><p><img src=\"https://static.tigerbbs.com/d04230d5588379e2d85a114dc62a8c7c\" tg-width=\"1080\" tg-height=\"919\" referrerpolicy=\"no-referrer\"></p><p>Some professionals analyze that the road adhesion may be poor, while others question that Tesla's intelligent driving system has obtained too high authority, resulting in the iBooster electronic power braking device provided by Bosch failing to function effectively.</p><p>However, due to the current stalemate between the two sides, it seems that the real situation at that time can never surface.</p><p>After this online recall through OTA (over-the-air upgrade), Tesla's cruise control opening logic will change, and the system will give drivers more prompts.</p><p>Interestingly, both domestic new car manufacturers Ideal and XPeng vehicles adopt cruise system control logic very similar to Tesla.</p><p><img src=\"https://static.tigerbbs.com/03c51901d6c1963ab3572f0c7bf44cf0\" tg-width=\"1024\" tg-height=\"742\" referrerpolicy=\"no-referrer\"></p><p>Under the leadership of Tesla, a catfish, more and more models are now equipped with similar (or even richer) intelligent and automated functions. This recall also reminds other car manufacturers in the automobile industry: The premise of adding any intelligent and convenient facilities in the car should be safety.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/okPYp2y8RUP0VfjmJ_ddQw\">新智元</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9e0d9f23e003547a93295253f05b6a55","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://mp.weixin.qq.com/s/okPYp2y8RUP0VfjmJ_ddQw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185056773","content_text":"【导读】国家市场监督管理总局昨天发布了特斯拉的召回通知：共计285520辆Model 3和Model Y由于可能存在车辆「速度突增」的隐患，将通过OTA的方式在线召回。这也是官方首次宣布特斯拉可能存在突然加速的隐患。\n刹车失灵的问题还没解决，现在还有突然加速的危险？\n6月26日，国家市场监督管理总局发布通告称，特斯拉将召回211,256 辆国产Model 3和38,599辆国产Model Y，以及35,665辆进口Model 3。\n目前，总部位于加利福尼亚州帕洛阿尔托的特斯拉公司还没有回复。\n\n特斯拉随后在其官方微博上也发表了相关声明。\n\n然而有趣的是，这两份文件看似在说同一件事，但表述却完全不一样。\n监管局：「本次召回范围内的车辆由于主动巡航控制系统问题，易造成驾驶员在以下情形误激活主动巡航功能。」\n特斯拉：「由于主动巡航控制功能可能被驾驶员误激活。」\n监管局：「本次召回活动是在国家市场监督管理总局启动缺陷调查情况下开展的。受调查影响，特斯拉汽车（北京）有限公司、特斯拉（上海）有限公司决定采取召回措施，消除安全隐患。」\n特斯拉：「秉承对消费者负责的态度，我们主动向国家市场监督管理总局备案了召回计划。」\n主动巡航「误」启动\n特斯拉Model 3/Y的主动巡航功能的开启方式为，车辆在D挡时向下拨动一次右侧挡杆。\n启动主动巡航功能后，车辆会根据用户选择的「当前车速」或「道路限速」主动巡航限速设置，在保持与前车安全车距情况下，提速至设置车速或与前车同速。\n用户可通过向上拨动一次右侧拨杆，或者踩下刹车退出主动巡航功能。\n主动巡航控制被误激活后，如果车辆设置的巡航速度不是当前车速，且当前车速低于设定速度时，车辆会加速到设定速度。\n出现车辆速度突增情形，会影响驾驶员的预期并导致车辆操控误判。\n1月6日，一位网友就发布了一个主动巡航被误激活的视频，显然，这位车主当时完全搞不清楚是什么情况。\n一位抖音上的博主演示了特斯拉是如何在关闭所有辅助的情况下进入主动巡航模式的。\n特斯拉表示，这次OTA「召回」可以提高激活主动巡航控制的阈值，并且增加了主动巡航控制激活和退出时的提醒方式。\n\n质量问题？\n数据显示，在特斯拉上海工厂本地生产的特斯拉汽车销量中，召回的在中国制造的汽车占 93.7%。\n华尔街日报也质询了特斯拉：「是否是由于制造速度太快而导致质量受到影响」，不过并没有得到答复。\n2月，特斯拉因为消费者投诉的质量问题被约谈。\n\n4月，一位消费者在上海车展上对特斯拉表达出了强烈的抗议，在车顶上大喊对特斯拉汽车刹车故障的指控。\n\n华尔街日报则表示，特斯拉的质量问题早已不是什么新闻了。\n特斯拉在中国一直被视为一个享有盛誉的品牌，马斯克也表示中国快速增长的市场将成为公司最大的市场。\n那现在这种情况是不是出现了一些变化？也不尽然。\n一切从简的控制逻辑\n从设计伊始，特斯拉就在强调“颠覆传统车型”的人机交互逻辑，这一点在Model 3上体现得更加淋漓尽致。\n车主只需将钥匙放在裤兜里，就可以拉动把手直接进入车内，并且入座后无需再按下启动按钮，直接拨动换挡杆就可以让车辆前进。\n车内取消了大部分的物理按键，甚至是方向盘前方的仪表盘，驾驶员只需要通过中央的大屏幕与车辆进行交互。\n这样的设计理念在全新的Model S Plaid上面被贯彻得更加彻底：车内取消了所有的物理按键，全部通过触控来进行控制，而车辆甚至可以自动判断挂前进挡还是倒挡。\n在特斯拉引以为傲的Autopilot功能开启上，特斯拉的操作逻辑也堪称颠覆：虽然换挡拨杆来自奔驰，但特斯拉秉着一切从简的功能，将其与换挡拨杆集成在了一起。\n而奔驰旗下车型的巡航控制功能都稳妥地集成在方向盘上，或者是一个独立的控制拨杆。\n之前在某汽车垂直网站论坛上，也有网友指出过这个隐患：\n为了凸显车辆的智能性，Model 3的定速巡航功能与传统车型不同：它会将速度自动设定在当前道路的最高限速，而非当前行驶的速度，这就会导致「自动加速」的发生。\n诚然这么做有助于减少操作步骤，但同时与特斯拉特殊的控制方法集成在一起时，就带来了隐患。\n悬而未决的刹车门\n此次召回从一定程度上从官方角度解释了之前报道过的特斯拉自动加速的问题。但是在上海车展上上演的维权事件目前仍然陷在罗生门中。\n\n车展维权车主表示：车辆当时在河南安阳国道上行驶，由于刹车系统失效导致追尾前方车辆。\n\n根据官方公布的车辆状态监控信息显示，车辆当时刹车的减速度与制动主缸压力并没有合理对应。\n\n有专业人士分析可能是路面附着力不佳，也有人在质疑特斯拉的智能驾驶系统获得了过高的权限，导致博世为其提供的iBooster电子助力刹车装置未能有效发挥作用。\n但是由于目前双方陷入僵持，当时的真实情况似乎永远无法浮出水面。\n此次通过OTA（空中升级）的方式在线召回之后，特斯拉的定速巡航开启逻辑将会有所变化，并且系统会给驾驶员更多的提示。\n有意思的是，国内新造车势力理想和小鹏汽车都采用了与特斯拉十分相近的巡航系统控制逻辑。\n\n在特斯拉这条鲶鱼的带领下，如今越来越多的车型开始配备了类似的（甚至是更加丰富的）智能化和自动化功能，此次召回也提醒着汽车行业其他的造车者们：车内增加任何智能化和便利性设施的前提，应该是安全性。","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3017,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167925211,"gmtCreate":1624243532733,"gmtModify":1703831394682,"author":{"id":"3586854163859420","authorId":"3586854163859420","name":"chokim","avatar":"https://static.tigerbbs.com/77a59d5fd58cc0342b778ebfba10c3af","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586854163859420","idStr":"3586854163859420"},"themes":[],"htmlText":"co","listText":"co","text":"co","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167925211","repostId":"2145707519","repostType":4,"repost":{"id":"2145707519","kind":"highlight","pubTimestamp":1624243486,"share":"https://ttm.financial/m/news/2145707519?lang=en_US&edition=fundamental","pubTime":"2021-06-21 10:44","market":"us","language":"zh","title":"The Fed's \"rate hike\" is 5 basis points, and the market will have a \"money shortage\"?","url":"https://stock-news.laohu8.com/highlight/detail?id=2145707519","media":"华尔街见闻","summary":"上周，美联储意外官宣“加息”，将联邦基金利率区间的上限——超额准备金利率（IOER）从0.10%上调至0.15%，并将联邦基金利率区间的下限——隔夜逆回购利率（ON RRP）从零上调至0.05%。\n在","content":"<p>Last week, the Federal Reserve unexpectedly officially announced a \"rate hike\", raising the upper limit of the Federal Funds rate range-the excess reserve rate (IOER) from 0.10% to 0.15%, and the lower limit of the Federal Funds rate range-the overnight reverse repurchase rate (ON RRP) was raised from zero to 0.05%.</p><p>According to Zoltan Pozsar, a former staff member of the New York Fed and current Credit Suisse repo market expert,<b>Fed repricing RRP will quickly become<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>A big problem for the system: the banking system will move from a capital-constrained situation (deposits pouring in, but only lending to the Federal Reserve) to a debt-constrained situation (deposits losing, which can't be found anywhere else except in the money market).</b></p><p>This means that,<b>Compared with before, the Federal Reserve now offers quite generous yields, and the money market changed suddenly overnight.</b></p><p>Only 5 basis points has been regarded as an \"excessive increase\" by the market?</p><p>Credit Suisse pointed out that even if the \"rate hike\" is only 1 basis point, money market investors may use trillions of dollars to make a \"sharp turn\"; Now with these 5 basis points, the money fund has an incentive to sell all US Treasury Bond and deposit cash in RRP instead.</p><p>Simply put, the yield of 6-month Treasury bills is less than 5 basis points, while the money fund has more than 2 trillion Treasury Bond. Therefore, they have every reason to sell, and other institutions naturally have reason to buy.</p><p>Therefore,<b>A write-off against reserves began, and ON RRP went from a passive instrument that large banks had been quite excluding and provided a floor on interest rates on deposits, to an active instrument that would suck away the deposits banks wanted to keep.</b></p><p><img src=\"https://static.tigerbbs.com/eae683d8a7cb9e509494d4009da16c88\" tg-width=\"1154\" tg-height=\"930\" referrerpolicy=\"no-referrer\"></p><p>In this case, what will happen?</p><p>Credit Suisse warned that after the Fed aggressively depletes reserves, most financial institutions will suddenly find that their intraday reserves have become very small, and they will have to use other Fed financing tools such as foreign exchange swap agreements to remain solvent. Eventually, the market may fall into another 2019-style repo crisis.</p><p>Of course, this process does not happen overnight, and it will take the market several weeks to observe the consequences of the Fed's write-off of reserves.</p><p>However, according to Credit Suisse's forecast, the situation may not be very optimistic: some banks that can't cope with capital outflows will borrow advances from the Federal Home Loan Bank (FHLB), while cash-rich banks will stop lending in the foreign exchange swap market, and finally the Federal Reserve will have to restart foreign exchange swap agreements to offset the related impact.</p><p>In other words,<b>It is these 5 basis points. The Fed has just planted the seeds for the next liquidity crisis, and the market should start to be vigilant.</b></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Fed's \"rate hike\" is 5 basis points, and the market will have a \"money shortage\"?</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 Fed's \"rate hike\" is 5 basis points, and the market will have a \"money shortage\"?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-21 10:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Last week, the Federal Reserve unexpectedly officially announced a \"rate hike\", raising the upper limit of the Federal Funds rate range-the excess reserve rate (IOER) from 0.10% to 0.15%, and the lower limit of the Federal Funds rate range-the overnight reverse repurchase rate (ON RRP) was raised from zero to 0.05%.</p><p>According to Zoltan Pozsar, a former staff member of the New York Fed and current Credit Suisse repo market expert,<b>Fed repricing RRP will quickly become<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>A big problem for the system: the banking system will move from a capital-constrained situation (deposits pouring in, but only lending to the Federal Reserve) to a debt-constrained situation (deposits losing, which can't be found anywhere else except in the money market).</b></p><p>This means that,<b>Compared with before, the Federal Reserve now offers quite generous yields, and the money market changed suddenly overnight.</b></p><p>Only 5 basis points has been regarded as an \"excessive increase\" by the market?</p><p>Credit Suisse pointed out that even if the \"rate hike\" is only 1 basis point, money market investors may use trillions of dollars to make a \"sharp turn\"; Now with these 5 basis points, the money fund has an incentive to sell all US Treasury Bond and deposit cash in RRP instead.</p><p>Simply put, the yield of 6-month Treasury bills is less than 5 basis points, while the money fund has more than 2 trillion Treasury Bond. Therefore, they have every reason to sell, and other institutions naturally have reason to buy.</p><p>Therefore,<b>A write-off against reserves began, and ON RRP went from a passive instrument that large banks had been quite excluding and provided a floor on interest rates on deposits, to an active instrument that would suck away the deposits banks wanted to keep.</b></p><p><img src=\"https://static.tigerbbs.com/eae683d8a7cb9e509494d4009da16c88\" tg-width=\"1154\" tg-height=\"930\" referrerpolicy=\"no-referrer\"></p><p>In this case, what will happen?</p><p>Credit Suisse warned that after the Fed aggressively depletes reserves, most financial institutions will suddenly find that their intraday reserves have become very small, and they will have to use other Fed financing tools such as foreign exchange swap agreements to remain solvent. Eventually, the market may fall into another 2019-style repo crisis.</p><p>Of course, this process does not happen overnight, and it will take the market several weeks to observe the consequences of the Fed's write-off of reserves.</p><p>However, according to Credit Suisse's forecast, the situation may not be very optimistic: some banks that can't cope with capital outflows will borrow advances from the Federal Home Loan Bank (FHLB), while cash-rich banks will stop lending in the foreign exchange swap market, and finally the Federal Reserve will have to restart foreign exchange swap agreements to offset the related impact.</p><p>In other words,<b>It is these 5 basis points. The Fed has just planted the seeds for the next liquidity crisis, and the market should start to be vigilant.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3633387\">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/af1d75a2b7a7bd95e0102711f4f871de","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SSO":"2倍做多标普500ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","TQQQ":"纳指三倍做多ETF","QLD":"2倍做多纳斯达克100指数ETF-ProShares","OEX":"标普100","DDM":"2倍做多道指ETF-ProShares","SPY":"标普500ETF","SDOW":"三倍做空道指30ETF-ProShares",".IXIC":"NASDAQ Composite","DOG":"道指ETF-ProShares做空",".DJI":"道琼斯","SDS":"两倍做空标普500 ETF-ProShares","QID":"两倍做空纳斯达克指数ETF-ProShares","OEF":"标普100指数ETF-iShares",".SPX":"S&P 500 Index","IVV":"标普500ETF-iShares","SQQQ":"纳指三倍做空ETF","UDOW":"三倍做多道指30ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF","DJX":"1/100道琼斯","SPXU":"三倍做空标普500ETF-ProShares","SH":"做空标普500-Proshares"},"source_url":"https://wallstreetcn.com/articles/3633387","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145707519","content_text":"上周，美联储意外官宣“加息”，将联邦基金利率区间的上限——超额准备金利率（IOER）从0.10%上调至0.15%，并将联邦基金利率区间的下限——隔夜逆回购利率（ON RRP）从零上调至0.05%。\n在纽约联储前工作人员、现瑞信回购市场专家Zoltan Pozsar看来，美联储重新定价RRP将迅速成为美国银行体系所要面临的一个大问题：银行体系将从资本约束的境地（存款涌入，但只能贷给美联储）转向负债约束（存款流失，除了在货币市场上，其他地方都找不到其替代品）。\n这也就意味着，相比于之前，美联储如今提供了相当慷慨的收益率，货币市场一夜之间风云突变，\n仅仅5个基点，就已被市场视为“过度调高”？\n瑞信指出，就算仅“加息”1个基点，货币市场投资者都有可能动用数万亿美元资金去作出“急转弯”的举动；现在有了这5个基点，货币基金就有动机卖掉所有美国国债，转而将现金存放在RRP当中。\n简单来看，6个月期国库券收益率都不到5个基点，而货币基金拥有超过2万亿的国债。因此，他们完全有理由卖，其他机构自然也有理由买。\n因此，一场针对储备金的冲销开始了，ON RRP也从一个大型银行一直相当排斥的、为存款提供利率下限的被动工具，变成了会吸走银行想要保留的存款的主动工具。\n\n如此一来，会发生什么？\n瑞信警告称，在美联储积极消耗储备金之后，大多数金融机构会突然发现自己的日内储备金变得非常少，他们就不得不使用外汇互换协议等美联储的其他融资工具来保持偿付能力，最终，市场可能会陷入另一场2019年式的回购危机。\n当然，这个过程也并非一蹴而就，美联储冲销储备金的后果还需要市场用几周时间来观察。\n不过，根据瑞信的预测，情况或许不会很乐观：部分无法应对资金外流的银行会从联邦住房贷款银行（FHLB）借入预付款，而现金充裕的银行停止在外汇掉期市场放贷，最后美联储不得不重启外汇互换协议来抵消相关影响。\n换句话说，就是这5个基点，美联储刚刚为下一场流动性危机埋下了种子，市场应该开始警惕了。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SQQQ":0.9,"SDOW":0.9,"SDS":0.9,".SPX":0.9,"TQQQ":0.9,"PSQ":0.9,"QID":0.9,"UDOW":0.9,"OEX":0.9,"DXD":0.9,"ESmain":0.9,"UPRO":0.9,"DJX":0.9,".IXIC":0.9,"SH":0.9,"DDM":0.9,"MNQmain":0.9,".DJI":0.9,"OEF":0.9,"IVV":0.9,"SPY":0.9,"NQmain":0.9,"QQQ":0.9,"SPXU":0.9,"DOG":0.9,"QLD":0.9,"SSO":0.9}},"isVote":1,"tweetType":1,"viewCount":1769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187577552,"gmtCreate":1623760722276,"gmtModify":1703818415795,"author":{"id":"3586854163859420","authorId":"3586854163859420","name":"chokim","avatar":"https://static.tigerbbs.com/77a59d5fd58cc0342b778ebfba10c3af","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586854163859420","idStr":"3586854163859420"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187577552","repostId":"1128167247","repostType":4,"repost":{"id":"1128167247","kind":"news","weMediaInfo":{"introduction":"每日央视新闻联播汇总。","home_visible":1,"media_name":"新闻联播","id":"1087842304","head_image":"https://static.tigerbbs.com/8f26375f2c30fa08707cfc63d71529ae"},"pubTimestamp":1623760528,"share":"https://ttm.financial/m/news/1128167247?lang=en_US&edition=fundamental","pubTime":"2021-06-15 20:35","market":"fut","language":"zh","title":"Summary of news from \"News Network\" on June 15th","url":"https://stock-news.laohu8.com/highlight/detail?id=1128167247","media":"新闻联播","summary":"6月15日讯，今天《新闻联播》主要内容有：\n1、广东汕尾依托红色资源 推动老区乡村振兴。\n2、我国新冠疫苗接种突破9亿剂次。\n3、中国已向40多个国家和地区出口疫苗。\n4、国家卫生健康委通报最新疫情：","content":"<p>June 15th, the main contents of today's \"News Network\" are:</p><p>1. Shanwei, Guangdong Province relies on red resources to promote rural revitalization in old areas.</p><p>2. COVID-19 vaccine vaccination in my country exceeded 900 million doses.</p><p>3. China has exported vaccines to more than 40 countries and regions.</p><p>4. The National Health Commission reported the latest epidemic situation: 20 new confirmed cases were reported yesterday.</p><p>5. During the Dragon Boat Festival holiday, the transaction of the network platform reached a new high.</p><p>6. During the Dragon Boat Festival holiday, the number of express parcels invested nationwide exceeded 1.74 billion.</p><p>7. The Ministry of Emergency Management starts special supervision and verification of enterprises with major hazard sources of dangerous goods.</p><p>8. Putin said that Russia-China relations are at the highest level in history.</p><p>9. The cumulative number of confirmed cases of COVID-19 worldwide exceeds 175.68 million.</p><p>10. Germany's inflation rate rose to its highest level in nearly 10 years in May.</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>Summary of news from \"News Network\" on June 15th</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\">\nSummary of news from \"News Network\" on June 15th\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1087842304\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8f26375f2c30fa08707cfc63d71529ae);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">新闻联播 </p>\n<p class=\"h-time smaller\">2021-06-15 20:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>June 15th, the main contents of today's \"News Network\" are:</p><p>1. Shanwei, Guangdong Province relies on red resources to promote rural revitalization in old areas.</p><p>2. COVID-19 vaccine vaccination in my country exceeded 900 million doses.</p><p>3. China has exported vaccines to more than 40 countries and regions.</p><p>4. The National Health Commission reported the latest epidemic situation: 20 new confirmed cases were reported yesterday.</p><p>5. During the Dragon Boat Festival holiday, the transaction of the network platform reached a new high.</p><p>6. During the Dragon Boat Festival holiday, the number of express parcels invested nationwide exceeded 1.74 billion.</p><p>7. The Ministry of Emergency Management starts special supervision and verification of enterprises with major hazard sources of dangerous goods.</p><p>8. Putin said that Russia-China relations are at the highest level in history.</p><p>9. The cumulative number of confirmed cases of COVID-19 worldwide exceeds 175.68 million.</p><p>10. Germany's inflation rate rose to its highest level in nearly 10 years in May.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6c694025628b8161b4f5ce9d7fb17b6c","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128167247","content_text":"6月15日讯，今天《新闻联播》主要内容有：\n1、广东汕尾依托红色资源 推动老区乡村振兴。\n2、我国新冠疫苗接种突破9亿剂次。\n3、中国已向40多个国家和地区出口疫苗。\n4、国家卫生健康委通报最新疫情：昨日新增确诊病例20例。\n5、端午假期网联平台交易创新高。\n6、端午假期全国揽投快递包裹量超过17.4亿件。\n7、应急管理部启动危险品重大危险源企业专项督导核查。\n8、普京表示俄中关系处在历史最高水平。\n9、全球累计新冠确诊病例超1亿7568万例。\n10、德国5月通胀率升至近10年来最高。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":1496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}