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ipc2006
ipc2006
·
2022-11-13
$Vanguard标普500ETF(VOO)$
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ipc2006
ipc2006
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2022-11-07
$Vanguard标普500ETF(VOO)$
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ipc2006
ipc2006
·
2022-06-30
ok
Reminder: US stocks will be closed on July 4th due to the US Independence Day holiday.
请留意具体时间,提前安排好您的投资计划。
Reminder: US stocks will be closed on July 4th due to the US Independence Day holiday.
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ipc2006
ipc2006
·
2022-06-29
ok
The world is guessing when the United States will fall into recession, Sister Wood: It has already begun
木头姐认为,供应链问题和通胀,已经将美国经济拖入深渊。
The world is guessing when the United States will fall into recession, Sister Wood: It has already begun
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ipc2006
ipc2006
·
2021-09-04
woo
BMW showcased the fully integrated Apple CarPlay system in the i4 dashboard.
最近的宣传材料显示,宝马即将推出的旗舰电动车“i4”具有迄今为止最完整的苹果CarPlay体验之一。i4有两个弧形显示屏和一个平视显示器。所有三个显示屏都可以同时显示来自苹果CarPlay的信息。宝马i4安装了iDrive 8车载系统,它支持无线苹果CarPlay,抬头显示器中的苹果地图转弯提示,以及支持仪表盘中显示地图和方向。BMW iDrive 8具有完全整合苹果CarPlay和Android Auto的功能。宝马i4今年晚些时候在欧洲上市,2022年夏天在美国上市。
BMW showcased the fully integrated Apple CarPlay system in the i4 dashboard.
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ipc2006
ipc2006
·
2021-07-29
ok
Hong Kong IPO: Li Auto’s “Crossing the Yangtze River Campaign”
去年这个时间,理想汽车和小鹏汽车先后在美股上市,资本市场“新能源汽车”的风潮也愈刮愈烈。 受概念炒作影响,造车新势力股价持续暴涨,但除去浮华之后,“御三家”的业绩却并不尽如人意。持续亏损犹如一块巨石,
Hong Kong IPO: Li Auto’s “Crossing the Yangtze River Campaign”
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ipc2006
ipc2006
·
2021-07-27
?
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ipc2006
ipc2006
·
2021-07-22
?
Saudi Aramco was hacked and demanded a ransom of $50 million.
据美联社报道,有1TB的公司数据被非法访问。
Saudi Aramco was hacked and demanded a ransom of $50 million.
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ipc2006
ipc2006
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2021-07-08
woo
Sorry, this post has been deleted
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ipc2006
ipc2006
·
2021-07-08
wa
The People's Bank of China requires online platforms to sever direct connections between personal information and financial institutions.
这一要求并非新的指令,而是前期整改要求中的应有之义。
The People's Bank of China requires online platforms to sever direct connections between personal information and financial institutions.
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15:24","market":"us","language":"zh","title":"Reminder: US stocks will be closed on July 4th due to the US Independence Day holiday.","url":"https://stock-news.laohu8.com/highlight/detail?id=1176657955","media":"老虎资讯综合","summary":"请留意具体时间,提前安排好您的投资计划。","content":"<p><html><head></head><body>Dear Investors:</p><p>On the anniversary of the establishment of the Hong Kong Special Administrative Region (and the anniversary of Hong Kong's return to China),<b>The Hong Kong stock market will be closed for one day on Friday, July 1.</b>。 In addition, due to the US Independence Day holiday,<b>The US stock market will be closed for one day on Monday, July 4.</b>。 Please pay attention to the specific time and plan your investment plan in advance.</p><p><img src=\"https://static.tigerbbs.com/b85335b584c40ee97169a866b3eb10b6\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p><p>Wishing you success in your investment</p><p>Tiger Brokers</p><p><b>Market closure arrangement</b></p><p><b>US stocks</b></p><p>The market will be closed on Monday, July 4, and will reopen as usual on Tuesday, July 5.</p><p><b>Hong Kong Stocks</b></p><p>The market will be closed on July 1st (Friday) and will reopen as usual on July 4th (Monday).</p><p><b>A-shares</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-</b></p><p>Services will be closed from June 30 (Thursday) to July 1 (Friday), and will resume as usual from July 4 (Monday).</p><p><b>Hong Kong Stock Connect</b></p><p>Services will not be available on Friday, July 1st, but will resume as usual on Monday, July 4th.</p><p><b>Singapore stock market, Australian market</b></p><p>Trade as usual.</p><p><b>Background Introduction</b></p><p><b>Anniversary of the establishment of the Hong Kong Special Administrative Region</b></p><p>The anniversary of Hong Kong's return to China falls on July 1st each year. The government of the Hong Kong Special Administrative Region of the People's Republic of China was established on July 1, 1997. From then on, this day became the anniversary of Hong Kong's return to China.</p><p>2022 marks the 25th anniversary of Hong Kong's return to the motherland.</p><p><img src=\"https://static.tigerbbs.com/f228e2be416213ddd5f57b144bf15712\" tg-width=\"860\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p><b>American Independence Day</b></p><p>Independence Day (also known as the Fourth of July or July Fourth) is one of the major statutory holidays in the United States. It falls on July 4th each year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776.</p><p></body></html></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>Reminder: US stocks will be closed on July 4th due to the US Independence Day holiday.</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; 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}\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\">\nReminder: US stocks will be closed on July 4th due to the US Independence Day holiday.\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\">2022-06-29 15:24</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Dear Investors:</p><p>On the anniversary of the establishment of the Hong Kong Special Administrative Region (and the anniversary of Hong Kong's return to China),<b>The Hong Kong stock market will be closed for one day on Friday, July 1.</b>。 In addition, due to the US Independence Day holiday,<b>The US stock market will be closed for one day on Monday, July 4.</b>。 Please pay attention to the specific time and plan your investment plan in advance.</p><p><img src=\"https://static.tigerbbs.com/b85335b584c40ee97169a866b3eb10b6\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p><p>Wishing you success in your investment</p><p>Tiger Brokers</p><p><b>Market closure arrangement</b></p><p><b>US stocks</b></p><p>The market will be closed on Monday, July 4, and will reopen as usual on Tuesday, July 5.</p><p><b>Hong Kong Stocks</b></p><p>The market will be closed on July 1st (Friday) and will reopen as usual on July 4th (Monday).</p><p><b>A-shares</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-</b></p><p>Services will be closed from June 30 (Thursday) to July 1 (Friday), and will resume as usual from July 4 (Monday).</p><p><b>Hong Kong Stock Connect</b></p><p>Services will not be available on Friday, July 1st, but will resume as usual on Monday, July 4th.</p><p><b>Singapore stock market, Australian market</b></p><p>Trade as usual.</p><p><b>Background Introduction</b></p><p><b>Anniversary of the establishment of the Hong Kong Special Administrative Region</b></p><p>The anniversary of Hong Kong's return to China falls on July 1st each year. The government of the Hong Kong Special Administrative Region of the People's Republic of China was established on July 1, 1997. From then on, this day became the anniversary of Hong Kong's return to China.</p><p>2022 marks the 25th anniversary of Hong Kong's return to the motherland.</p><p><img src=\"https://static.tigerbbs.com/f228e2be416213ddd5f57b144bf15712\" tg-width=\"860\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p><b>American Independence Day</b></p><p>Independence Day (also known as the Fourth of July or July Fourth) is one of the major statutory holidays in the United States. It falls on July 4th each year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3877d7f890a3e97cbb441a2ccfdf29da","relate_stocks":{"HSI":"恒生指数",".DJI":"道琼斯"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176657955","content_text":"尊敬的投资者:因香港特别行政区成立纪念日(暨香港回归纪念日),港股市场于7月1日(周五)休市一天。此外,因美国独立日假期,美股市场将于7月4日(周一)休市一天。请留意具体时间,提前安排好您的投资计划。预祝投资顺利老虎证券休市安排美股7月4日(周一)休市,7月5日(周二)起照常开市。港股7月1日(周五)休市,7月4日(周一)起照常开市。A股照常交易。沪股通、深股通6月30日(周四)至7月1日(周五)不提供服务,7月4日(星期一)起照常开通。港股通7月1日(周五)不提供服务,7月4日(周一)起照常开通。新加坡股市、澳大利亚市场照常交易。背景介绍香港特别行政区成立纪念日暨香港回归纪念日,为每年的7月1日。1997年7月1日,中华人民共和国香港特别行政区政府成立。从此,这一天成为香港回归纪念日。2022年是香港回归祖国25周年。美国独立日独立日(Independence Day,又称Fourth of July或July Fourth)是美国的主要法定节日之一,日期为每年7月4日,以纪念1776年7月4日大陆会议在费城正式通过《独立宣言》。","news_type":1,"symbols_score_info":{".DJI":0.9,"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":3920,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9042362350,"gmtCreate":1656434478670,"gmtModify":1676535827828,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"title":"","htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9042362350","repostId":"1157047337","repostType":4,"repost":{"id":"1157047337","kind":"news","pubTimestamp":1656430587,"share":"https://ttm.financial/m/news/1157047337?lang=en_US&edition=fundamental","pubTime":"2022-06-28 23:36","market":"us","language":"zh","title":"The world is guessing when the United States will fall into recession, Sister Wood: It has already begun","url":"https://stock-news.laohu8.com/highlight/detail?id=1157047337","media":"华尔街见闻","summary":"木头姐认为,供应链问题和通胀,已经将美国经济拖入深渊。","content":"<p><html><head></head><body>Author: Cao Zexi</p><p>While the big bosses on Wall Street are arguing about when the United States will fall into recession, Cathie Wood, \"Sister Wood\", believes that the United States has fallen into recession. She admits that she has underestimated the severity and persistence of American inflation.</p><p>Wood says:</p><p>We think we are in a recession. We think there's a big problem with inventory...I've never seen such a big increase in inventory in my 45-year career. Wood said inflation was higher than she expected due to supply chain disruptions and geopolitical risks:</p><p>We were wrong on one thing, we didn't realize that inflation would last so long. The supply chain problem, I can't believe it, has been going on for more than two years, and at that time we didn't anticipate the Russia-Ukraine conflict. Inflation has always been a bigger problem, but it will send us into deflation. Wood believes that consumers are feeling the rapid increase in prices, which is reflected in sentiment data falling to all-time lows. She cited a consumer survey from the University of Michigan that showed that in June it was 50, the lowest ever.</p><p>U.S. inflation, as measured by the Consumer Price Index, rose 8.6% year-over-year in May, the fastest increase since December 1981.</p><p>The market generally believes that 2022 is a Waterloo for Wood. In the face of rising interest rates, the fund she manages has become one of the biggest losers this year. Her flagship active fund, the Ark Innovation ETF (ARKK), is down 52% year-to-date and 66% from its 52-week high.</p><p>Still, Wood said her clients are mostly sticking to her funds, and new money is pouring in as investors look to diversify in a sluggish market. ARKK has seen more than $180 million in inflows in June, according to FactSet:</p><p>I think the inflows are happening because our clients have been moving away from broad-based benchmark indexes like the Nasdaq 100 and we are fully committed to disruptive innovation. Innovation can solve problems. At present, the mainstream thinking in the market remains that recession is getting closer, but it is not yet here.</p><p>Recent macro data crashes in the United States indicate that the U.S. economy is at risk of recession. On Monday, the overall corporate activity index of the June Texas Manufacturing Survey released by the Dallas Fed plunged to-17.7 from-7.3 in May, the lowest point since May 2020. The index value was also far worse than the market expectation of-3.1. Last week, the initial values of Markit's manufacturing, service and comprehensive PMI in June in the United States fell across the board, all of which were less than expected. Among them, the manufacturing PMI recorded 52.4, a 23-month low, the manufacturing output index fell below the watershed of 50 for the first time in two years, and the service industry and comprehensive PMI both hit a five-month low.</p><p>At present, on the one hand, there are worries about inflation at a 40-year high in the United States, and on the other hand, there are worries about the slowdown of corporate profit growth, the slowdown or even recession of the overall American economy. Although U.S. stocks have rebounded significantly since mid-June, and the 3.1% increase of the S&P 500 index last Friday was the largest one-day increase in more than two years, investors are still \"scared\" and hedge funds are cautious. Many Wall Street analysts think that the rebound may be short-lived.</p><p>Not only the United States, but Europe across the Atlantic is having a hard time. In June, the preliminary value of the euro zone's composite PMI fell to 51.9, a 16-month low. Among them, the growth of France and Germany, two economic \"locomotives\", slowed sharply, and the UK showed signs of economic stagnation.</p><p>At the same time, the market is also facing the aggressive tightening of the Federal Reserve and the looming natural gas crisis in Europe, so economists are increasingly pessimistic and believe that a recession in Europe and the United States is \"increasingly likely\" and the risk is rising sharply.</p><p></body></html></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>The world is guessing when the United States will fall into recession, Sister Wood: It has already begun</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 world is guessing when the United States will fall into recession, Sister Wood: It has already begun\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-06-28 23:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Cao Zexi</p><p>While the big bosses on Wall Street are arguing about when the United States will fall into recession, Cathie Wood, \"Sister Wood\", believes that the United States has fallen into recession. She admits that she has underestimated the severity and persistence of American inflation.</p><p>Wood says:</p><p>We think we are in a recession. We think there's a big problem with inventory...I've never seen such a big increase in inventory in my 45-year career. Wood said inflation was higher than she expected due to supply chain disruptions and geopolitical risks:</p><p>We were wrong on one thing, we didn't realize that inflation would last so long. The supply chain problem, I can't believe it, has been going on for more than two years, and at that time we didn't anticipate the Russia-Ukraine conflict. Inflation has always been a bigger problem, but it will send us into deflation. Wood believes that consumers are feeling the rapid increase in prices, which is reflected in sentiment data falling to all-time lows. She cited a consumer survey from the University of Michigan that showed that in June it was 50, the lowest ever.</p><p>U.S. inflation, as measured by the Consumer Price Index, rose 8.6% year-over-year in May, the fastest increase since December 1981.</p><p>The market generally believes that 2022 is a Waterloo for Wood. In the face of rising interest rates, the fund she manages has become one of the biggest losers this year. Her flagship active fund, the Ark Innovation ETF (ARKK), is down 52% year-to-date and 66% from its 52-week high.</p><p>Still, Wood said her clients are mostly sticking to her funds, and new money is pouring in as investors look to diversify in a sluggish market. ARKK has seen more than $180 million in inflows in June, according to FactSet:</p><p>I think the inflows are happening because our clients have been moving away from broad-based benchmark indexes like the Nasdaq 100 and we are fully committed to disruptive innovation. Innovation can solve problems. At present, the mainstream thinking in the market remains that recession is getting closer, but it is not yet here.</p><p>Recent macro data crashes in the United States indicate that the U.S. economy is at risk of recession. On Monday, the overall corporate activity index of the June Texas Manufacturing Survey released by the Dallas Fed plunged to-17.7 from-7.3 in May, the lowest point since May 2020. The index value was also far worse than the market expectation of-3.1. Last week, the initial values of Markit's manufacturing, service and comprehensive PMI in June in the United States fell across the board, all of which were less than expected. Among them, the manufacturing PMI recorded 52.4, a 23-month low, the manufacturing output index fell below the watershed of 50 for the first time in two years, and the service industry and comprehensive PMI both hit a five-month low.</p><p>At present, on the one hand, there are worries about inflation at a 40-year high in the United States, and on the other hand, there are worries about the slowdown of corporate profit growth, the slowdown or even recession of the overall American economy. Although U.S. stocks have rebounded significantly since mid-June, and the 3.1% increase of the S&P 500 index last Friday was the largest one-day increase in more than two years, investors are still \"scared\" and hedge funds are cautious. Many Wall Street analysts think that the rebound may be short-lived.</p><p>Not only the United States, but Europe across the Atlantic is having a hard time. In June, the preliminary value of the euro zone's composite PMI fell to 51.9, a 16-month low. Among them, the growth of France and Germany, two economic \"locomotives\", slowed sharply, and the UK showed signs of economic stagnation.</p><p>At the same time, the market is also facing the aggressive tightening of the Federal Reserve and the looming natural gas crisis in Europe, so economists are increasingly pessimistic and believe that a recession in Europe and the United States is \"increasingly likely\" and the risk is rising sharply.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://wallstreetcn.com/articles/3663281\">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/d926776f752c08f272e4ba22a079a81f","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3663281","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1157047337","content_text":"作者:曹泽熙就在华尔街的大佬们为美国到底什么时候陷入衰退争论不休的时候,“木头姐”Cathie Wood则认为,美国已经陷入经济衰退,她承认自己低估了美国通胀的严重性和持续性。Wood说:我们认为我们正处于衰退之中。我们认为库存存在一个大问题……我45年的职业生涯中从未见过如此大幅度的库存增加。Wood表示,由于供应链中断和地缘政治风险,通胀比她预期的要高:我们在一件事上错了,我们没有意识到通胀会持续这么久。供应链的问题,不敢相信,已经持续了两年多的时间,而那个时候我们还没预料到俄乌冲突。通货膨胀一直是一个更大的问题,但它将让我们陷入通货紧缩。Wood认为,消费者正在感受到价格的快速上涨,这反映在跌至历史低点的情绪数据中。她援引密歇根大学的消费者调查显示,6月份这一数据为50,是有史以来的最低水平。美国以消费者价格指数衡量的通货膨胀率在5月份同比上涨8.6%,是自1981年12月以来的最快涨幅。市场普遍认为,2022年是Wood的滑铁卢。面对利率上升,她管理的基金成为今年以来最大的输家之一。她的旗舰主动基金Ark Innovation ETF (ARKK) 今年以来已下跌52%,较52周高点下跌66%。尽管如此,Wood表示,她的客户大多坚持她的基金,随着投资者在低迷的市场中寻求多元化,新资金正在涌入。根据 FactSet的数据,ARKK 6月份的资金流入已超过1.8亿美元:我认为资金流入正在发生,因为我们的客户一直在远离纳斯达克100等基础广泛的基准指数,我们完全致力于颠覆性创新。创新才能解决问题。目前,市场主流的想法依然是,经济衰退已经是越来越近,但是还没有到来。近来美国多个宏观数据崩盘预示着美国经济面临衰退风险。周一达拉斯联储公布的6月得州制造业调查总体企业活动指数从5月的-7.3暴跌至-17.7,创2020年5月以来的最低点,该指数数值也远逊于市场预期的-3.1。上周公布的美国6月Markit制造业、服务业、综合PMI初值全线滑落,均不及预期,其中制造业PMI录得52.4,创23个月新低,制造业产出指数两年来首次跌破荣枯分水岭50,服务业和综合PMI均创5个月新低。当前,一边是对美国处于40年高点通胀的担忧,一边又是企业利润增速放缓、美国整体经济的放缓甚至衰退的担忧。虽然美股自6月中旬以来显著反弹,上周五标普500指数3.1%的涨幅更是创下两年多来的最大单日涨幅,但投资者依旧“惶恐”,对冲基金谨慎,不少华尔街分析师们认为反弹或是短暂的。不止美国,大西洋彼岸的欧洲日子也不好过。6月份欧元区综合PMI初值降至51.9,创下16个月来的低点,其中两个经济“火车头”法国和德国的增长急剧放缓,英国更是显露出经济停滞的信号。与此同时,市场还在同时面对美联储的激进紧缩,以及欧洲日益逼近的天然气危机,因此经济学家愈发悲观,并认为欧美陷入经济衰退“越来越有可能”,风险正在急剧上升。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4673,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815768374,"gmtCreate":1630720662198,"gmtModify":1676530383925,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"title":"","htmlText":"woo","listText":"woo","text":"woo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815768374","repostId":"2164805574","repostType":2,"repost":{"id":"2164805574","kind":"news","pubTimestamp":1630713600,"share":"https://ttm.financial/m/news/2164805574?lang=en_US&edition=fundamental","pubTime":"2021-09-04 08:00","market":"hk","language":"zh","title":"BMW showcased the fully integrated Apple CarPlay system in the i4 dashboard.","url":"https://stock-news.laohu8.com/highlight/detail?id=2164805574","media":"新浪科技综合","summary":"最近的宣传材料显示,宝马即将推出的旗舰电动车“i4”具有迄今为止最完整的苹果CarPlay体验之一。i4有两个弧形显示屏和一个平视显示器。所有三个显示屏都可以同时显示来自苹果CarPlay的信息。宝马i4安装了iDrive 8车载系统,它支持无线苹果CarPlay,抬头显示器中的苹果地图转弯提示,以及支持仪表盘中显示地图和方向。BMW iDrive 8具有完全整合苹果CarPlay和Android Auto的功能。宝马i4今年晚些时候在欧洲上市,2022年夏天在美国上市。","content":"<p><html><body>This article is from cnBeta</p><p>Recent promotional materials show that BMW's upcoming flagship electric vehicle, the i4, features the most complete features to date.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One of the CarPlay experiences. BMW describes the i4's Apple CarPlay experience as \"more seamless\". The i4 has two curved displays and a head-up display. All three displays can display information from Apple CarPlay simultaneously.</p><p><figure><img h=\"450\" src=\"http://n.sinaimg.cn/spider20210904/450/w800h450/20210904/0ce8-cc2d2303e62eae09a51ce055d8346b84.jpg\" w=\"800\"/><h2></h2></figure>The BMW i4 is equipped with the iDrive 8 in-vehicle system, which supports wireless Apple CarPlay, Apple Maps turn alerts in the head-up display, and maps and directions displayed in the dashboard.</p><p>The new generation BMW iDrive 8 offers greater flexibility, making it simpler and more convenient to use third-party applications in the car in the future. The BMW iDrive 8 features full integration of Apple CarPlay and Android Auto. The large screen controlling the display clearly displays all available applications in the system's menu. Users' favorite applications can be launched quickly and easily from the main menu or toolbar. The increased integration of application functionality into information displays and even BMW head-up displays also enables a seamless transition across the entire screen grouping.</p><p><div sax-type=\"proxy\"></div>Music streaming and communication applications are now integrated into BMW iDrive 8. They are displayed as original sources in the main menu, allowing customers to take full advantage of the features of their applications.</p><p>Many vehicles that have recently adopted Apple CarPlay already display limited turn direction information from Apple Maps on the driver's display, but BMW's full integration of Apple Maps into the dashboard is the first of its kind. Starting with iOS 13, CarPlay has supported turn signals and Apple Maps, but BMW was one of the first companies to implement full Apple Maps functionality on the second display instrument panel.</p><p>In recent years, BMW has been an early adopter of Apple's car-related software features, such as Digital Key and Ultra-Wideband Digital Key+, although it only began offering CarPlay in 2016 and has been criticized for charging an annual usage fee of $80.</p><p>The BMW i4 will be available in Europe later this year and in the United States in the summer of 2022.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BMW showcased the fully integrated Apple CarPlay system in the i4 dashboard.</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\">\nBMW showcased the fully integrated Apple CarPlay system in the i4 dashboard.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技综合</strong><span class=\"h-time small\">2021-09-04 08:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>This article is from cnBeta</p><p>Recent promotional materials show that BMW's upcoming flagship electric vehicle, the i4, features the most complete features to date.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One of the CarPlay experiences. BMW describes the i4's Apple CarPlay experience as \"more seamless\". The i4 has two curved displays and a head-up display. All three displays can display information from Apple CarPlay simultaneously.</p><p><figure><img h=\"450\" src=\"http://n.sinaimg.cn/spider20210904/450/w800h450/20210904/0ce8-cc2d2303e62eae09a51ce055d8346b84.jpg\" w=\"800\"/><h2></h2></figure>The BMW i4 is equipped with the iDrive 8 in-vehicle system, which supports wireless Apple CarPlay, Apple Maps turn alerts in the head-up display, and maps and directions displayed in the dashboard.</p><p>The new generation BMW iDrive 8 offers greater flexibility, making it simpler and more convenient to use third-party applications in the car in the future. The BMW iDrive 8 features full integration of Apple CarPlay and Android Auto. The large screen controlling the display clearly displays all available applications in the system's menu. Users' favorite applications can be launched quickly and easily from the main menu or toolbar. The increased integration of application functionality into information displays and even BMW head-up displays also enables a seamless transition across the entire screen grouping.</p><p><div sax-type=\"proxy\"></div>Music streaming and communication applications are now integrated into BMW iDrive 8. They are displayed as original sources in the main menu, allowing customers to take full advantage of the features of their applications.</p><p>Many vehicles that have recently adopted Apple CarPlay already display limited turn direction information from Apple Maps on the driver's display, but BMW's full integration of Apple Maps into the dashboard is the first of its kind. Starting with iOS 13, CarPlay has supported turn signals and Apple Maps, but BMW was one of the first companies to implement full Apple Maps functionality on the second display instrument panel.</p><p>In recent years, BMW has been an early adopter of Apple's car-related software features, such as Digital Key and Ultra-Wideband Digital Key+, although it only began offering CarPlay in 2016 and has been criticized for charging an annual usage fee of $80.</p><p>The BMW i4 will be available in Europe later this year and in the United States in the summer of 2022.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://tech.sina.cn/mobile/xp/2021-09-04/detail-iktzscyx2174817.d.html?vt=4\">新浪科技综合</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://k.sinaimg.cn/n/tech/transform/667/w400h267/20210904/219e-b10b42122d792e6addc11289839aa0ee.jpg/w120h90l50t13d0.jpg","relate_stocks":{"AAPL":"苹果"},"source_url":"https://tech.sina.cn/mobile/xp/2021-09-04/detail-iktzscyx2174817.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164805574","content_text":"本文来自cnBeta\n最近的宣传材料显示,宝马即将推出的旗舰电动车“i4”具有迄今为止最完整的苹果CarPlay体验之一。宝马将i4的苹果CarPlay体验描述为“更加无缝”。i4有两个弧形显示屏和一个平视显示器。所有三个显示屏都可以同时显示来自苹果CarPlay的信息。\n\n\n\n\n宝马i4安装了iDrive 8车载系统,它支持无线苹果CarPlay,抬头显示器中的苹果地图转弯提示,以及支持仪表盘中显示地图和方向。\n新一代BMW iDrive 8具有更高的灵活性,使得未来在车内使用第三方应用程序变得更加简单和方便。BMW iDrive 8具有完全整合苹果CarPlay和Android Auto的功能。控制显示屏的大屏幕在系统的菜单中清晰地显示所有可用的应用程序。用户最喜欢的应用程序可以通过主菜单或工具栏快速而方便地启动。将应用程序功能更多地整合到信息显示屏甚至BMW平视显示器中,也使整个屏幕分组实现了无缝过渡。\n音乐流媒体和通信应用程序现在被整合到BMW iDrive 8中。它们在主菜单中被显示为原始来源,使客户能够充分利用其应用程序的功能。\n许多最近使用苹果CarPlay的车辆已经在驾驶员显示屏上显示了来自苹果地图的有限的转弯方向信息,但宝马将苹果地图完全整合到仪表盘中,是同类产品的首次实施。从iOS 13开始,CarPlay已经支持转弯提示和苹果地图,但宝马是首批在第二显示屏仪表盘上实现苹果地图全功能的公司之一。\n近年来,宝马一直是苹果汽车相关软件功能的早期采用者,如数字钥匙和超宽频数字钥匙+,尽管它在2016年才开始提供CarPlay,并因每年收取80美元的使用费而受到批评。\n宝马i4今年晚些时候在欧洲上市,2022年夏天在美国上市。","news_type":1,"symbols_score_info":{"AAPL":1}},"isVote":1,"tweetType":1,"viewCount":6117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808340489,"gmtCreate":1627560624041,"gmtModify":1703492369610,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"title":"","htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808340489","repostId":"1136422208","repostType":4,"repost":{"id":"1136422208","kind":"news","weMediaInfo":{"introduction":"新三板第一媒体,由资深金融人和资深媒体人创办。","home_visible":1,"media_name":"读懂财经","id":"1060193092","head_image":"https://static.tigerbbs.com/0151ecd107de45069beb5d8f191d7326"},"pubTimestamp":1627559544,"share":"https://ttm.financial/m/news/1136422208?lang=en_US&edition=fundamental","pubTime":"2021-07-29 19:52","market":"us","language":"zh","title":"Hong Kong IPO: Li Auto’s “Crossing the Yangtze River Campaign”","url":"https://stock-news.laohu8.com/highlight/detail?id=1136422208","media":"读懂财经","summary":"去年这个时间,理想汽车和小鹏汽车先后在美股上市,资本市场“新能源汽车”的风潮也愈刮愈烈。\n受概念炒作影响,造车新势力股价持续暴涨,但除去浮华之后,“御三家”的业绩却并不尽如人意。持续亏损犹如一块巨石,","content":"<p>This time last year,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>and<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>With successive listings on the US stock market, the trend of \"new energy vehicles\" in the capital market is gaining momentum.</p><p>Affected by the hype surrounding the concept, the stock prices of emerging electric vehicle manufacturers have continued to soar, but apart from the glitz and glamour, the performance of the \"three major electric vehicle manufacturers\" has not been satisfactory. Continuous losses are like a boulder, weighing heavily on investors' hearts.</p><p>However, despite rising sales and expanding scale, the market still gives high valuations to emerging car manufacturers. The reason for this is that the market is large enough.</p><p>According to the CIC Report, from 2017 to 2020, China<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>Car sales soared from 600,000 to 1.2 million units, with a compound annual growth rate of 26%, accounting for 5.8% of total passenger vehicle sales in 2020. Looking ahead, from 2020 to 2025, the scale of new energy vehicles in China is expected to grow at a compound annual growth rate of 35.8%, far exceeding the 4% growth rate of gasoline vehicles.</p><p>According to the Ministry of Industry and Information Technology's plan, by 2025, domestic sales of new energy vehicles should account for 20% of total automobile sales. Policy support is the biggest boon for this industry, which means that the next five years will be the biggest boom for new energy vehicles.</p><p>The track is good enough, but it's not easy to reach the finish line; Byton is a prime example. At its peak, it invested 11 billion yuan to build a modern production base covering an area of 1,200 mu, but it soon faced a financial crisis. At its worst last year, this building was almost...<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>There are only 41 workers left in a factory the size of the one in China.</p><p>\"Car manufacturing\" is a very expensive project. It not only tests the company's financial strength, but also requires them to be able to continuously raise funds. If they are not careful, the money they have burned through will be wasted. This is also for He Xiaopeng, ideals,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Having already completed its IPO on the US stock market and having tens of billions of yuan in cash at the end of 2020, it still chose to conduct a secondary IPO in Hong Kong.</p><p>The Hong Kong stock market is highly recognized for new energy vehicles. XPeng Automobile, which was the first to go public for a secondary listing, not only received recognition from investment banks, but also received a huge investment from Alibaba, which holds nearly 15% of its shares.</p><p>At a time when Sino-US relations are quite delicate, an IPO in Hong Kong has become a \"crossing the Yangtze River battle\" for emerging car manufacturers. Only by winning this time can they have the opportunity to move towards the future.</p><p>Following XPeng, Li Auto announced on July 26 that it had passed the Hong Kong Stock Exchange hearing. After launching the \"Crossing the Yangtze River Campaign,\" can the most impure ideal of \"electric vehicles\" break through the encirclement?</p><p><b>/01 /</b></p><p><b>The least expensive \"emerging car manufacturers\"</b></p><p>Compared to XPeng and NIO (NYSE:NIO), Li Auto is definitely the most resourceful emerging car manufacturer, as Li Xiang has always hoped to transform Li Auto into the next Toyota.</p><p>in 2015,<a href=\"https://laohu8.com/S/ATHM\">Autohome</a>Despite maintaining a high growth rate, Li Xiang decided to leave the project he had incubated. At the time, a friend advised Li Xiang to \"hang around\" for another two years, saying, \"I want to build another Toyota in my lifetime. If I can't raise the money, I'll pay 100 million US dollars myself first.\"</p><p>As is well known, Toyota's success is inseparable from \"lean production,\" which has significantly improved Toyota's efficiency and effectively controlled the company's costs. Therefore, Li Auto is inherently frugal, and this is fully reflected in its financial statements.</p><p>For his employees, Li Xiang is not an \"ideal\" boss. Li Xiang once revealed to the media that the company's administration requires employees to buy the lowest discounted economy class when traveling for business, and that two people of the same sex must stay together in economy hotels. Ultimately, these regulations effectively reduced ideal expenses. Over the past three years, the company's total marketing and management expenses amounted to 2.656 billion yuan, less than half that of XPeng and less than one-fifth that of Nio.</p><p><img src=\"https://static.tigerbbs.com/5936731439079e4626a71d9fb7398bc6\" tg-width=\"589\" tg-height=\"257\" referrerpolicy=\"no-referrer\"></p><p>In terms of R&D expenses, Li Auto also burns the least amount of money. From 2018 to Q1 2021, Li Auto's total R&D expenditure reached 3.577 billion yuan. This figure is less than the amount of money Nio spent on R&D in 2018, and is only equivalent to 66% of the total expenditure of XPeng in three years.</p><p><img src=\"https://static.tigerbbs.com/acb21455c81cb5cea08b8c16f377b6e9\" tg-width=\"589\" tg-height=\"252\" referrerpolicy=\"no-referrer\"></p><p>Savings in all aspects have made Li Auto the \"new car manufacturer\" with the least losses. From 2018 to Q1 2021, Li Auto suffered a total net loss of 4.483 billion yuan. During the same period, XPeng and Nio lost 8.61 billion yuan and 26.69 billion yuan respectively.</p><p><img src=\"https://static.tigerbbs.com/13bd57ce9bc05a71759d6d06d673d065\" tg-width=\"589\" tg-height=\"248\" referrerpolicy=\"no-referrer\"></p><p>Objectively speaking, when everyone is mired in losses, it is remarkable that Li Auto can effectively control costs. Its product strategy, including \"range-extended hybrid\", is more like a balanced choice that comprehensively considers factors such as cost, technology, product experience and usage scenarios. This will bring the company closer to profitability and give shareholders more peace of mind.</p><p>However, this \"money-saving\" ability only proves that Li Auto is a company that is good at making products, but it is still far from ultimate success.</p><p><b>/02 /</b></p><p><b>How can \"ideals\" be realized?</b></p><p>The approach to new energy vehicles has remained unchanged: cars are merely carriers; the ecosystem is the key.</p><p>Tesla is the world's most successful new energy vehicle manufacturer. Its development in review reveals that Li Auto must take two major paths to success: achieving economies of scale and realizing ecosystem development.</p><p>All businesses in the world that use ecology as their selling point rely on one word: scale. According to Metcalf's Law, the more users an ecosystem gathers, the greater the value it generates, and this value grows exponentially with the number of users.</p><p>Of course, the automobile industry is also the most typical example of an economy of scale. For new energy vehicle companies, what they do is not just about selling hardware, but about building a huge new energy vehicle ecosystem and making money through the ecosystem effect. The first step in building an ecosystem is scale, with vehicle delivery volume becoming a key indicator.</p><p>Unlike traditional automakers with their numerous models, Li Auto only has ONE model, the Li Auto ONE (including the 2021 model).</p><p>Since its launch, Li Auto has delivered a total of 63,700 vehicles, increasing its quarterly sales volume from less than 1,000 units to 17,575 units. Li Xiang's next goal is to sell more than 10,000 units in September this year. Based on sales volume, the Li Auto ONE was the best-selling new energy SUV in China in 2020, with a market share of approximately 9.7%. However, with only one car, its product competitiveness will gradually decline as the cycle extends.</p><p><img src=\"https://static.tigerbbs.com/5554c48c321ff255ab9ab2df94200b70\" tg-width=\"589\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>Theoretically, as the user base increases, the value of the ideal new energy vehicle ecosystem will continue to increase, and then revenue will be generated through value-added services. This transforms the one-time consumption of ordinary cars into sustainable, continuous revenue, which will continue to contribute to the user as long as they are still using the ideal service.</p><p>On the other hand, for the business model of new energy vehicles to succeed, it also needs to achieve an ecosystem, which will ultimately be reflected in the continuous improvement of gross profit margin in the financial report.</p><p>The biggest difference between new energy vehicles and ordinary cars is that new energy vehicles themselves require data support and also generate massive amounts of data. Hardware serves as a traffic entry point, while software is a profit-making means; this has become a common strategy for almost all new energy vehicle companies.</p><p>Since the gross profit margin of vehicle sales is very low, while the gross profit margin of service business is higher, this means that the higher the proportion of service business, the higher the company's gross profit margin.</p><p>How to improve gross profit margin? This requires automakers to focus on technological research and development. Currently, Li Auto has independently developed a complete software system.</p><p>Half of the ideal R&D investment is spent on autonomous driving. Currently, the Li Auto ONE is at Level 2, but the company stated that it has Level 4 reserves and plans to apply them to products launched after 2022. However, truly Level 4 and Level 5 autonomous driving is not a purely technical issue. True commercialization requires infrastructure such as road networks and regulations, which will take a long time.</p><p>Returning to the ideal, the ideal situation is that when more cars are sold, the number of software users will also increase; As the software experience improves, users will spread word of mouth to promote car marketing, thus creating a positive feedback loop.</p><p>Therefore, vehicle scale and software quality are key to enhancing the core value of the ideal ecosystem. This is also the \"ideal\" in the hearts of all players.</p><p><b>/03 /</b></p><p><b>The least pure \"electric vehicle\"</b></p><p>While looking up at the sky, we must also look down at the road ahead.</p><p>Currently, although Li Auto is the emerging car manufacturer closest to profitability, it is also the least pure \"electric vehicle,\" which is something that many investors have always questioned.</p><p>Since their inception, new energy vehicles have suffered from insufficient battery range. In response to this issue, most new energy vehicle manufacturers have chosen to take a head-on approach, mostly focusing on small cars and improving the user experience by continuously improving battery technology.</p><p>The large SUV segment, which Li Auto specializes in, already has a stronger demand for large-capacity batteries, making it difficult to overcome the range problem in a short period of time. Therefore, Li Auto chose to use a \"fuel plug-in\" method to assist in power generation, which is the so-called range-extended electric vehicle (EREV).</p><p>The core driving force of the EREV electric vehicle is still electricity, but due to insufficient battery range at present, a range-extending system of a gasoline generator has been added in addition to the electric system. At this stage, this system can indeed provide a longer driving range, but it is still regarded as a transitional option for the development of \"gasoline vehicles to pure electric vehicles\".</p><p><img src=\"https://static.tigerbbs.com/eee5f974a6cbb916656c87c66677f223\" tg-width=\"590\" tg-height=\"307\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Li Auto itself acknowledges that EREV electric vehicles are not mainstream in the market, and there are no examples of successful commercialization in the market. Previously, the Li Auto ONE had been promoting itself as a \"range-extended electric vehicle,\" emphasizing that this solution could allow users to say goodbye to range anxiety. However, the company abandoned this obsession last year. Li Xiang said that in the future, it will no longer emphasize that the Li Auto ONE is a \"range-extended electric vehicle\" concept, and will uniformly refer to it as a plug-in hybrid electric vehicle.</p><p>The Li Auto ONE (2021 model) has upgraded the EREV to a plug-in hybrid electric vehicle (PHEV), and the principle is basically the same as the EREV.</p><p>It should be noted that with the rapid development of battery technology, the batteries equipped with electric vehicles will inevitably become larger and larger, and it may only be a matter of time before EREV electric vehicles are replaced by pure electric vehicles.</p><p><img src=\"https://static.tigerbbs.com/6f771793dc37b32fcfeda8694b97cb44\" tg-width=\"404\" tg-height=\"222\" referrerpolicy=\"no-referrer\"></p><p>Based on the above concerns, Li Auto has had no choice but to develop a high-voltage pure electric technology route. Currently, Li Auto is developing two high-voltage pure electric platforms: Whale and Shark, both of which are expected to launch new models in 2023. Regarding range-extended electric vehicles, Li Auto only has one X platform under development and will launch a new model based on the X platform in 2022.</p><p>From the perspective of Li Auto's strategic layout, it also agrees with the pure electric technology route. However, in order to be the first to achieve commercialization, Li Auto could only choose to \"save the country indirectly\" in the early stages by using EREV technology to increase its mileage.</p><p><img src=\"https://static.tigerbbs.com/51287805f37d809fcfb51ffabc2adf5a\" tg-width=\"408\" tg-height=\"220\" referrerpolicy=\"no-referrer\"></p><p>Although Li Auto is transitioning towards a pure electric route, this has significantly increased its uncertainty. When Li Auto launched its pure electric vehicle, its competitors' pure electric models had already been iterated for several generations. How easy would it be for Li Auto to achieve a leapfrog development in one step?</p><p>On the other hand, simultaneously deploying both pure electric and range-extended electric vehicle technology routes will significantly increase the company's R&D costs. In Q1 2021 alone, Ideal's R&D expenses were close to half of its total R&D expenses in 2020, which will also increase the company's short-term performance fluctuations.</p><p>In terms of marketing, Li Auto also chose a difficult path. Instead of choosing the traditional method of distributing goods through dealers, it built its own marketing system. On July 10, Guangdong's 100th directly operated retail center officially opened in Xiashan, Zhanjiang, Li Auto, bringing its total number of directly operated retail centers to 65 cities across the country.</p><p>A fully self-operated sales model can better serve customers, control sales data, and thus adjust production capacity in a timely manner. However, the risks of this model cannot be ignored. If car sales encounter obstacles in the future, the fully self-operated model will further increase its operational risks.</p><p><img src=\"https://static.tigerbbs.com/6f0e0701ffa4418d7f9a9c4a2ac35824\" tg-width=\"590\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang once said, \"Not relying on a large number of external blood transfusions is a very important indicator.\" However, whether it's technology development, store expansion, or software layout, Li Auto still has a long way to go. The new energy vehicle track is not a sprint race, but a rally.</p><p>This is a comprehensive test of the company's products, technology, sales, services, and financing. Obviously, this is far from the end of the cash-burning of new energy vehicles. Therefore, listing in Hong Kong is of great significance to emerging automotive players.</p><p>In May, Li Xiang responded to rumors of a \"secondary listing\" by saying that the more money, the better. From this perspective, Li Auto's successful \"crossing the river\" is just one of the milestones in this rally.</p><p>In the next leg of the race, Li Auto will have to rely on \"electric vehicles\" to speak for themselves.</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>Hong Kong IPO: Li Auto’s “Crossing the Yangtze River Campaign”</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\">\nHong Kong IPO: Li Auto’s “Crossing the Yangtze River Campaign”\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1060193092\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/0151ecd107de45069beb5d8f191d7326);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">读懂财经 </p>\n<p class=\"h-time smaller\">2021-07-29 19:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>This time last year,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>and<a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>With successive listings on the US stock market, the trend of \"new energy vehicles\" in the capital market is gaining momentum.</p><p>Affected by the hype surrounding the concept, the stock prices of emerging electric vehicle manufacturers have continued to soar, but apart from the glitz and glamour, the performance of the \"three major electric vehicle manufacturers\" has not been satisfactory. Continuous losses are like a boulder, weighing heavily on investors' hearts.</p><p>However, despite rising sales and expanding scale, the market still gives high valuations to emerging car manufacturers. The reason for this is that the market is large enough.</p><p>According to the CIC Report, from 2017 to 2020, China<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>Car sales soared from 600,000 to 1.2 million units, with a compound annual growth rate of 26%, accounting for 5.8% of total passenger vehicle sales in 2020. Looking ahead, from 2020 to 2025, the scale of new energy vehicles in China is expected to grow at a compound annual growth rate of 35.8%, far exceeding the 4% growth rate of gasoline vehicles.</p><p>According to the Ministry of Industry and Information Technology's plan, by 2025, domestic sales of new energy vehicles should account for 20% of total automobile sales. Policy support is the biggest boon for this industry, which means that the next five years will be the biggest boom for new energy vehicles.</p><p>The track is good enough, but it's not easy to reach the finish line; Byton is a prime example. At its peak, it invested 11 billion yuan to build a modern production base covering an area of 1,200 mu, but it soon faced a financial crisis. At its worst last year, this building was almost...<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>There are only 41 workers left in a factory the size of the one in China.</p><p>\"Car manufacturing\" is a very expensive project. It not only tests the company's financial strength, but also requires them to be able to continuously raise funds. If they are not careful, the money they have burned through will be wasted. This is also for He Xiaopeng, ideals,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Having already completed its IPO on the US stock market and having tens of billions of yuan in cash at the end of 2020, it still chose to conduct a secondary IPO in Hong Kong.</p><p>The Hong Kong stock market is highly recognized for new energy vehicles. XPeng Automobile, which was the first to go public for a secondary listing, not only received recognition from investment banks, but also received a huge investment from Alibaba, which holds nearly 15% of its shares.</p><p>At a time when Sino-US relations are quite delicate, an IPO in Hong Kong has become a \"crossing the Yangtze River battle\" for emerging car manufacturers. Only by winning this time can they have the opportunity to move towards the future.</p><p>Following XPeng, Li Auto announced on July 26 that it had passed the Hong Kong Stock Exchange hearing. After launching the \"Crossing the Yangtze River Campaign,\" can the most impure ideal of \"electric vehicles\" break through the encirclement?</p><p><b>/01 /</b></p><p><b>The least expensive \"emerging car manufacturers\"</b></p><p>Compared to XPeng and NIO (NYSE:NIO), Li Auto is definitely the most resourceful emerging car manufacturer, as Li Xiang has always hoped to transform Li Auto into the next Toyota.</p><p>in 2015,<a href=\"https://laohu8.com/S/ATHM\">Autohome</a>Despite maintaining a high growth rate, Li Xiang decided to leave the project he had incubated. At the time, a friend advised Li Xiang to \"hang around\" for another two years, saying, \"I want to build another Toyota in my lifetime. If I can't raise the money, I'll pay 100 million US dollars myself first.\"</p><p>As is well known, Toyota's success is inseparable from \"lean production,\" which has significantly improved Toyota's efficiency and effectively controlled the company's costs. Therefore, Li Auto is inherently frugal, and this is fully reflected in its financial statements.</p><p>For his employees, Li Xiang is not an \"ideal\" boss. Li Xiang once revealed to the media that the company's administration requires employees to buy the lowest discounted economy class when traveling for business, and that two people of the same sex must stay together in economy hotels. Ultimately, these regulations effectively reduced ideal expenses. Over the past three years, the company's total marketing and management expenses amounted to 2.656 billion yuan, less than half that of XPeng and less than one-fifth that of Nio.</p><p><img src=\"https://static.tigerbbs.com/5936731439079e4626a71d9fb7398bc6\" tg-width=\"589\" tg-height=\"257\" referrerpolicy=\"no-referrer\"></p><p>In terms of R&D expenses, Li Auto also burns the least amount of money. From 2018 to Q1 2021, Li Auto's total R&D expenditure reached 3.577 billion yuan. This figure is less than the amount of money Nio spent on R&D in 2018, and is only equivalent to 66% of the total expenditure of XPeng in three years.</p><p><img src=\"https://static.tigerbbs.com/acb21455c81cb5cea08b8c16f377b6e9\" tg-width=\"589\" tg-height=\"252\" referrerpolicy=\"no-referrer\"></p><p>Savings in all aspects have made Li Auto the \"new car manufacturer\" with the least losses. From 2018 to Q1 2021, Li Auto suffered a total net loss of 4.483 billion yuan. During the same period, XPeng and Nio lost 8.61 billion yuan and 26.69 billion yuan respectively.</p><p><img src=\"https://static.tigerbbs.com/13bd57ce9bc05a71759d6d06d673d065\" tg-width=\"589\" tg-height=\"248\" referrerpolicy=\"no-referrer\"></p><p>Objectively speaking, when everyone is mired in losses, it is remarkable that Li Auto can effectively control costs. Its product strategy, including \"range-extended hybrid\", is more like a balanced choice that comprehensively considers factors such as cost, technology, product experience and usage scenarios. This will bring the company closer to profitability and give shareholders more peace of mind.</p><p>However, this \"money-saving\" ability only proves that Li Auto is a company that is good at making products, but it is still far from ultimate success.</p><p><b>/02 /</b></p><p><b>How can \"ideals\" be realized?</b></p><p>The approach to new energy vehicles has remained unchanged: cars are merely carriers; the ecosystem is the key.</p><p>Tesla is the world's most successful new energy vehicle manufacturer. Its development in review reveals that Li Auto must take two major paths to success: achieving economies of scale and realizing ecosystem development.</p><p>All businesses in the world that use ecology as their selling point rely on one word: scale. According to Metcalf's Law, the more users an ecosystem gathers, the greater the value it generates, and this value grows exponentially with the number of users.</p><p>Of course, the automobile industry is also the most typical example of an economy of scale. For new energy vehicle companies, what they do is not just about selling hardware, but about building a huge new energy vehicle ecosystem and making money through the ecosystem effect. The first step in building an ecosystem is scale, with vehicle delivery volume becoming a key indicator.</p><p>Unlike traditional automakers with their numerous models, Li Auto only has ONE model, the Li Auto ONE (including the 2021 model).</p><p>Since its launch, Li Auto has delivered a total of 63,700 vehicles, increasing its quarterly sales volume from less than 1,000 units to 17,575 units. Li Xiang's next goal is to sell more than 10,000 units in September this year. Based on sales volume, the Li Auto ONE was the best-selling new energy SUV in China in 2020, with a market share of approximately 9.7%. However, with only one car, its product competitiveness will gradually decline as the cycle extends.</p><p><img src=\"https://static.tigerbbs.com/5554c48c321ff255ab9ab2df94200b70\" tg-width=\"589\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>Theoretically, as the user base increases, the value of the ideal new energy vehicle ecosystem will continue to increase, and then revenue will be generated through value-added services. This transforms the one-time consumption of ordinary cars into sustainable, continuous revenue, which will continue to contribute to the user as long as they are still using the ideal service.</p><p>On the other hand, for the business model of new energy vehicles to succeed, it also needs to achieve an ecosystem, which will ultimately be reflected in the continuous improvement of gross profit margin in the financial report.</p><p>The biggest difference between new energy vehicles and ordinary cars is that new energy vehicles themselves require data support and also generate massive amounts of data. Hardware serves as a traffic entry point, while software is a profit-making means; this has become a common strategy for almost all new energy vehicle companies.</p><p>Since the gross profit margin of vehicle sales is very low, while the gross profit margin of service business is higher, this means that the higher the proportion of service business, the higher the company's gross profit margin.</p><p>How to improve gross profit margin? This requires automakers to focus on technological research and development. Currently, Li Auto has independently developed a complete software system.</p><p>Half of the ideal R&D investment is spent on autonomous driving. Currently, the Li Auto ONE is at Level 2, but the company stated that it has Level 4 reserves and plans to apply them to products launched after 2022. However, truly Level 4 and Level 5 autonomous driving is not a purely technical issue. True commercialization requires infrastructure such as road networks and regulations, which will take a long time.</p><p>Returning to the ideal, the ideal situation is that when more cars are sold, the number of software users will also increase; As the software experience improves, users will spread word of mouth to promote car marketing, thus creating a positive feedback loop.</p><p>Therefore, vehicle scale and software quality are key to enhancing the core value of the ideal ecosystem. This is also the \"ideal\" in the hearts of all players.</p><p><b>/03 /</b></p><p><b>The least pure \"electric vehicle\"</b></p><p>While looking up at the sky, we must also look down at the road ahead.</p><p>Currently, although Li Auto is the emerging car manufacturer closest to profitability, it is also the least pure \"electric vehicle,\" which is something that many investors have always questioned.</p><p>Since their inception, new energy vehicles have suffered from insufficient battery range. In response to this issue, most new energy vehicle manufacturers have chosen to take a head-on approach, mostly focusing on small cars and improving the user experience by continuously improving battery technology.</p><p>The large SUV segment, which Li Auto specializes in, already has a stronger demand for large-capacity batteries, making it difficult to overcome the range problem in a short period of time. Therefore, Li Auto chose to use a \"fuel plug-in\" method to assist in power generation, which is the so-called range-extended electric vehicle (EREV).</p><p>The core driving force of the EREV electric vehicle is still electricity, but due to insufficient battery range at present, a range-extending system of a gasoline generator has been added in addition to the electric system. At this stage, this system can indeed provide a longer driving range, but it is still regarded as a transitional option for the development of \"gasoline vehicles to pure electric vehicles\".</p><p><img src=\"https://static.tigerbbs.com/eee5f974a6cbb916656c87c66677f223\" tg-width=\"590\" tg-height=\"307\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Li Auto itself acknowledges that EREV electric vehicles are not mainstream in the market, and there are no examples of successful commercialization in the market. Previously, the Li Auto ONE had been promoting itself as a \"range-extended electric vehicle,\" emphasizing that this solution could allow users to say goodbye to range anxiety. However, the company abandoned this obsession last year. Li Xiang said that in the future, it will no longer emphasize that the Li Auto ONE is a \"range-extended electric vehicle\" concept, and will uniformly refer to it as a plug-in hybrid electric vehicle.</p><p>The Li Auto ONE (2021 model) has upgraded the EREV to a plug-in hybrid electric vehicle (PHEV), and the principle is basically the same as the EREV.</p><p>It should be noted that with the rapid development of battery technology, the batteries equipped with electric vehicles will inevitably become larger and larger, and it may only be a matter of time before EREV electric vehicles are replaced by pure electric vehicles.</p><p><img src=\"https://static.tigerbbs.com/6f771793dc37b32fcfeda8694b97cb44\" tg-width=\"404\" tg-height=\"222\" referrerpolicy=\"no-referrer\"></p><p>Based on the above concerns, Li Auto has had no choice but to develop a high-voltage pure electric technology route. Currently, Li Auto is developing two high-voltage pure electric platforms: Whale and Shark, both of which are expected to launch new models in 2023. Regarding range-extended electric vehicles, Li Auto only has one X platform under development and will launch a new model based on the X platform in 2022.</p><p>From the perspective of Li Auto's strategic layout, it also agrees with the pure electric technology route. However, in order to be the first to achieve commercialization, Li Auto could only choose to \"save the country indirectly\" in the early stages by using EREV technology to increase its mileage.</p><p><img src=\"https://static.tigerbbs.com/51287805f37d809fcfb51ffabc2adf5a\" tg-width=\"408\" tg-height=\"220\" referrerpolicy=\"no-referrer\"></p><p>Although Li Auto is transitioning towards a pure electric route, this has significantly increased its uncertainty. When Li Auto launched its pure electric vehicle, its competitors' pure electric models had already been iterated for several generations. How easy would it be for Li Auto to achieve a leapfrog development in one step?</p><p>On the other hand, simultaneously deploying both pure electric and range-extended electric vehicle technology routes will significantly increase the company's R&D costs. In Q1 2021 alone, Ideal's R&D expenses were close to half of its total R&D expenses in 2020, which will also increase the company's short-term performance fluctuations.</p><p>In terms of marketing, Li Auto also chose a difficult path. Instead of choosing the traditional method of distributing goods through dealers, it built its own marketing system. On July 10, Guangdong's 100th directly operated retail center officially opened in Xiashan, Zhanjiang, Li Auto, bringing its total number of directly operated retail centers to 65 cities across the country.</p><p>A fully self-operated sales model can better serve customers, control sales data, and thus adjust production capacity in a timely manner. However, the risks of this model cannot be ignored. If car sales encounter obstacles in the future, the fully self-operated model will further increase its operational risks.</p><p><img src=\"https://static.tigerbbs.com/6f0e0701ffa4418d7f9a9c4a2ac35824\" tg-width=\"590\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang once said, \"Not relying on a large number of external blood transfusions is a very important indicator.\" However, whether it's technology development, store expansion, or software layout, Li Auto still has a long way to go. The new energy vehicle track is not a sprint race, but a rally.</p><p>This is a comprehensive test of the company's products, technology, sales, services, and financing. Obviously, this is far from the end of the cash-burning of new energy vehicles. Therefore, listing in Hong Kong is of great significance to emerging automotive players.</p><p>In May, Li Xiang responded to rumors of a \"secondary listing\" by saying that the more money, the better. From this perspective, Li Auto's successful \"crossing the river\" is just one of the milestones in this rally.</p><p>In the next leg of the race, Li Auto will have to rely on \"electric vehicles\" to speak for themselves.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c3461c9400040bdfdce3ecdd4882fbed","relate_stocks":{"02015":"理想汽车-W","LI":"理想汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136422208","content_text":"去年这个时间,理想汽车和小鹏汽车先后在美股上市,资本市场“新能源汽车”的风潮也愈刮愈烈。\n受概念炒作影响,造车新势力股价持续暴涨,但除去浮华之后,“御三家”的业绩却并不尽如人意。持续亏损犹如一块巨石,重重地压在投资者心口。\n但在销量不断上涨,规模持续扩大的背景下,市场依然给予造车新势力们很高的估值,究其原因就在于这个市场足够大。\n据灼识谘询报告,2017年-2020年,中国新能源汽车销量从60万辆飙升至120万辆,年复合增长率高达26%,占2020年乘用车总销量的5.8%。放眼未来,2020年至2025年,中国新能源汽车规模预计将以35.8%的复合增长率增长,远高于燃油车4%的增速。\n而根据工信部规划,到2025年国内新能源汽车的销量要占到汽车总销量的20%。政策扶持是这个行业的最大利好,这就意味着未来五年将会是新能源汽车最大的风口。\n赛道足够好,但要想跑到终点却并不容易,拜腾就是一个典型。鼎盛时期,它曾投资110亿元,建了一座占地1200亩的现代化生产基地,但很快就爆发财务危机。去年最惨的时候,这座几乎跟特斯拉中国工厂一样大的工厂中只剩41个工人。\n“造车”是一个很烧钱的项目,不仅考验公司的资金实力,同时也需要它们能够持续融资,稍有不慎,此前烧掉的钱就会付诸东流。这也是为何小鹏、理想、蔚来已经完成美股上市,2020年末账上躺着数百亿资金,依然选择赴港二次IPO的原因。\n港股市场对新能源汽车极为认可,最先二次上市的小鹏汽车不仅获得了投行的肯定,而且还获阿里巨资入股,持有其近15%的股份。\n在中美关系颇为微妙的当下,赴港IPO成了造车新势力的“渡江战役”,赢了这一次才有机会奔向未来。\n紧随小鹏,理想汽车于7月26日宣布通过港交所聆讯。打响“渡江战役”后,最不纯粹的“电动车”理想能够突出重围吗?\n/ 01 /\n最不烧钱的“造车新势力”\n与小鹏和蔚来(NYSE:NIO)相比,理想绝对是最会过日子的造车新势力,因为一直以来李想都希望把理想汽车打造成下一个丰田。\n2015年,汽车之家仍保持较高的增速,李想却决定选择离开这个自己一手孵化的项目。当时好友曾劝李想再“混”两年,他说:“要在有生之年,再造一个丰田。如果融不到钱,我自己先掏一个亿美元。”\n众所周知,丰田的成功离不开“精益生产”,它大幅提升了丰田的效率,有效控制了公司的成本。因此,理想从骨子里就带着那股节俭劲,而这也完全体现在其财报中。\n对员工而言,李想并不是一个“理想”的老板。李想曾向媒体透露,公司行政要求员工出差必须买折扣最低的经济舱,经济酒店都要两个同性在一起住。最终,这些规定有效降低了理想的费用支出,过去三年公司的营销和管理花费合计26.56亿元,不到小鹏的一半,不足蔚来的五分之一。\n\n在研发费用方面,理想也是“烧钱”最少的。2018年-2021年Q1,理想研发费用合计支出达35.77亿元,这一数据甚至不到蔚来2018年一年在研发上烧的钱,仅相当于小鹏三年合计的66%。\n\n方方面面的节省,让理想成为亏钱最少的“造车新势力”。2018年-2021年Q1,理想合计净亏损44.83亿元。同期小鹏和蔚来分别亏了86.1亿元、266.9亿元。\n\n客观来说,当大家都陷在亏损泥潭,理想能有效做到控制成本是一件很了不起的事情。包括其“增程式混动”的产品策略,更像是一种综合考虑成本、技术、产品体验以及使用场景等因素下的平衡选择。这会让公司距离盈利更近,也会让股东更放心。\n不过,这种“省钱”能力,只能证明理想是一家善于做产品的公司,但距离最终的成功依然很远。\n/ 02 /\n“理想”如何实现?\n新能源汽车的玩法始终没有变:汽车只是载体,生态才是关键。\n特斯拉是世界上最成功的新能源汽车,复盘其发展可以发现,理想想要成功必须走通两大路径:达成规模效应、实现生态化。\n世界上所有以生态为卖点的生意,都离不开一个词:规模。根据“梅特卡夫法则”,当一个生态聚集的用户越多,那么其产生的价值也就越大,并且这个价值会随着用户数呈指数级增长。\n当然,汽车本来也是最典型的规模经济产业。对新能源汽车企业来说,它们做的事情绝不仅仅是单纯的硬件销售,而是构建一个庞大的新能源汽车生态,并通过生态效应赚钱。生态构建的第一步就是体量,汽车交付量就成为关键指标。\n不同于传统车企繁多的车型,理想汽车只有理想ONE一款车型(包含2021型)。\n从上市至今,理想汽车合计交付汽车6.37万辆,单季销交付量由不足千台提升至17575台,李想的下一个目标是今年9月销售过万。按销量计算,理想ONE是2020年中国最畅销的新能源SUV车型,市场份额约9.7%。不过,仅有一款车,随着周期的延长,其产品竞争力也会逐步下降。\n\n理论上,随着用户规模的提升,理想的新能源汽车生态的价值不断增加,然后通过增值服务的方式创收。这就将普通汽车的一次性消费转化成可持续的连续收入,只要用户还在使用理想的服务,那么就会继续为其贡献收入。\n另一方面,新能源汽车的商业模式想要成功跑通,还需要实现生态化,最终体现在财报中就是毛利率不断提升。\n新能源汽车与普通汽车最大的不同在于,新能源汽车自身需要数据支撑,同时也会创造海量的数据。硬件作为流量入口,软件则是盈利手段,这已经是几乎所有新能源车企的通用玩法。\n由于整车销售毛利率很低,而服务业务毛利率较高,这就意味着服务业务占比越高,公司的毛利率也就越高。\n如何提升毛利率?这就需要车企深耕技术研发。目前,理想已经自主研发了一整套软件系统。\n在理想的研发投入中,有一半用到了自动驾驶之上。目前理想ONE属于L2级,但公司表示已具备L4级别的储备,并计划应用于2022之后推出的产品中。不过,真正L4、L5级别的自动驾驶不是一个纯技术问题,真正的商业化落地需要路网、法规等基础建设,这需要一个漫长的过程。\n回到理想身上,最理想状态是当汽车卖的多了,软件的用户也就多了;当软件体验越来越好,用户又会口口相传促进汽车营销,从而达成正反馈循环。\n因此,汽车规模和软件质量,是提升理想生态核心价值的关键。这也是所有玩家心中的“理想”。\n/ 03 /\n最不纯粹的“电动车”\n抬头看天的同时,也要低头看路。\n目前看,理想虽是距离盈利最近的造车新势力,但同时它也是最不纯粹的“电动车”,这也是很多投资者始终质疑的地方。\n新能源汽车自诞生之日起,就存在电池续航不足的问题。针对这个问题,大多数新能源汽车厂家都选择正面硬刚,大多以小型车为切口,通过不断提升电池技术的方式来提升用户体验。\n而理想专攻的大型SUV领域,本身对大容量电池的需求就更为旺盛,很难在短时间内攻破里程难题。因此,理想选择“燃油外挂”的方式来辅助发电,也就是所谓增程式(EREV)电动车。\nEREV电动车的核心驱动力依然是电力,但由于现阶段电池续航能力不足,因此在电动系统之外还增加了一台汽油发电机的增程系统。就现阶段而言,这套系统确实能提供更远的续航能力,但还是被视为“燃油车向纯电车”发展的一个过渡选择。\n\n理想自己也承认,EREV电动车并非市场主流,市场中缺乏成功商业化的实例。此前,理想ONE对外宣传时一直以“增程式电动车”自居,强调这一解决方案可以让用户告别里程焦虑。但去年公司放弃这一执念,李想表示,未来不再强调理想ONE是“增程式电动车”概念,统一口径为插电式混合动力汽车。\n理想ONE(2021型)已经将EREV升级为插电式混合动力(PHEV),原理基本与EREV大致相同。\n需要说明的是,在电池技术飞速发展的当下,电动车所配备的电池势必会越来越大,EREV电动车被纯电电动车代替或许只是一个时间问题。\n\n基于以上担忧,理想不得不进行高压纯电技术路线的布局。目前,理想在研的高压纯电平台有Whale和Shark两款,预计均会在2023年推出新款车型。而增程式电动车方面,理想则只有一款X平台在研,并2022年推出基于X平台的新款车型。\n从理想的战略布局看,其也是认同纯电技术路线的,只不过为了率先实现商业化,理想初期只能选择“曲线救国”,通过EREV技术来增加里程。\n\n尽管理想正在向纯电路线转型,但这就大幅增加了自身的不确定性。当理想纯电电动车推出的时候,竞争对手的纯电车型已经迭代了好几代,理想汽车想要完成一步到位的弯道超车,谈何容易?\n另一方面,同时布局纯电和增程式两种技术路线,又会让公司的研发成本陡增。仅2021年Q1季度,理想的研发费用就接近2020年总研发费用的一半,这也会增大公司短期的业绩波动。\n在市场推广上,理想也选择了一条艰难之路,它没有选择传统经销商铺货的方式,而是自建营销体系。7月10日,理想汽车第100家直营零售中心正式落地广东湛江霞山,至此其直营零售中心已经覆盖了全国65个城市。\n完全自营的销售模式能够更好的服务客户、掌控销售数据,从而能够及时调整产能状况。但这种模式的风险也不容忽视,未来一旦汽车销售遇阻,那么完全自营的模式将会进一步其经营风险。\n\n李想曾说过,“不依赖于大量外部的输血,这是一个很重要的指标”。但无论是技术路线研发、门店扩张还是软件布局,理想还有很长的路要走。新能源汽车赛道不是冲刺赛,而是一场拉力赛。\n这是一次对公司产品、技术、销售、服务、融资的全方面考验,显而易见,目前远不是新能源汽车烧钱的尽头。因此,赴港上市对汽车新势力们意义非凡。\n5月,李想在回应“二次上市”传闻时表示,钱肯定是多多益善。从这个角度来说,理想成功“渡江”,也不过是这场拉力赛的节点之一。\n下一段赛程,理想要靠“电动车”说话了。","news_type":1,"symbols_score_info":{"02015":0.9,"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":4230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809277398,"gmtCreate":1627375610314,"gmtModify":1703488681525,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/809277398","repostId":"1190808833","repostType":4,"isVote":1,"tweetType":1,"viewCount":4847,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172904201,"gmtCreate":1626925095903,"gmtModify":1703480705225,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/172904201","repostId":"1163816978","repostType":4,"repost":{"id":"1163816978","kind":"news","pubTimestamp":1626924703,"share":"https://ttm.financial/m/news/1163816978?lang=en_US&edition=fundamental","pubTime":"2021-07-22 11:31","market":"other","language":"zh","title":"Saudi Aramco was hacked and demanded a ransom of $50 million.","url":"https://stock-news.laohu8.com/highlight/detail?id=1163816978","media":"新浪科技","summary":"据美联社报道,有1TB的公司数据被非法访问。","content":"<p>On the morning of July 22, it was reported that Saudi Aramco's information was leaked following a hacker attack. According to the Associated Press, 1TB of company data was illegally accessed. According to a company statement, Saudi Aramco recently discovered that a third-party contractor had indirectly leaked company data. We confirm that the data breach was not due to a breach of our systems, had no impact on our operations, and the company continues to maintain a strong cybersecurity posture. The Associated Press further reported that the hackers demanded $50 million in compensation for deleting the data and demanded payment in cryptocurrency.</p>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Saudi Aramco was hacked and demanded a ransom of $50 million.</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\">\nSaudi Aramco was hacked and demanded a ransom of $50 million.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技</strong><span class=\"h-time small\">2021-07-22 11:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On the morning of July 22, it was reported that Saudi Aramco's information was leaked following a hacker attack. According to the Associated Press, 1TB of company data was illegally accessed. According to a company statement, Saudi Aramco recently discovered that a third-party contractor had indirectly leaked company data. We confirm that the data breach was not due to a breach of our systems, had no impact on our operations, and the company continues to maintain a strong cybersecurity posture. The Associated Press further reported that the hackers demanded $50 million in compensation for deleting the data and demanded payment in cryptocurrency.</p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://finance.sina.com.cn/tech/2021-07-22/doc-ikqcfnca8329201.shtml\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7d584aca182a0c36adb16d579518f97f","relate_stocks":{"USO":"美国原油ETF"},"source_url":"https://finance.sina.com.cn/tech/2021-07-22/doc-ikqcfnca8329201.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163816978","content_text":"7月22日上午消息,沙特阿美石油公司在一次黑客袭击后信息被泄露。据美联社报道,有1TB的公司数据被非法访问。公司声明显示:沙特阿美最近发现,第三方承包商间接泄露了公司的数据。我们确认,数据的泄露不是由于我们的系统被攻破,对我们的运营没有影响,公司继续保持着强大的网络安全态势。美联社进一步报道称,黑客索要5000万美元作为删除数据的报酬,并要求以加密货币支付。","news_type":1,"symbols_score_info":{"USO":0.9}},"isVote":1,"tweetType":1,"viewCount":5858,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143082461,"gmtCreate":1625752697453,"gmtModify":1703747859060,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"title":"","htmlText":"woo","listText":"woo","text":"woo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143082461","repostId":"1165245102","repostType":4,"isVote":1,"tweetType":1,"viewCount":6219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143017148,"gmtCreate":1625752487484,"gmtModify":1703747848446,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"title":"","htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143017148","repostId":"1188969765","repostType":4,"repost":{"id":"1188969765","kind":"news","pubTimestamp":1625745301,"share":"https://ttm.financial/m/news/1188969765?lang=en_US&edition=fundamental","pubTime":"2021-07-08 19:55","market":"sh","language":"zh","title":"The People's Bank of China requires online platforms to sever direct connections between personal information and financial institutions.","url":"https://stock-news.laohu8.com/highlight/detail?id=1188969765","media":"《财经》","summary":"这一要求并非新的指令,而是前期整改要求中的应有之义。","content":"<p>By Zhang Wei</p><p>According to multiple sources, the Credit Reference Bureau of the People's Bank of China recently issued a notice to online platform institutions, requiring them to achieve a complete \"direct disconnection\" between personal information and financial institutions.</p><p>This requirement is not a new directive, but rather an inherent part of the previous rectification requirements.</p><p>On April 29, 2021, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and other financial regulatory authorities (hereinafter referred to as the financial regulatory authorities) jointly conducted regulatory talks with 13 online platform companies engaged in financial business. The main reason for the meeting is that these online platforms generally have serious violations such as engaging in financial business without a license or beyond the scope of the license, inadequate corporate governance mechanisms, regulatory arbitrage, unfair competition, and infringement of consumers' legitimate rights and interests.</p><p>In response to the prominent problems that currently exist in the financial business of online platform companies, financial regulatory authorities have put forward seven major rectification requirements, one of which is to break the information monopoly and strictly conduct personal credit reporting business in accordance with laws and regulations through licensed credit reporting agencies.</p><p>According to this rectification requirement, when conducting business cooperation with financial institutions such as traffic generation, loan assistance, and joint loans, online platforms must directly provide information voluntarily submitted by individuals, information generated within the platform, or information obtained from external sources to financial institutions under the guise of application information, identity information, basic information, and personal profile and scoring information. This requires a complete \"disconnection\" between personal information and financial institutions.</p><p>According to Caixin reporters, the aforementioned institutions had completed their preliminary rectification plans by June 30, 2021. The reason why the Credit Reference Bureau of the People's Bank of China issued another notice to stop the direct connection between personal information on online platforms and financial institutions is that the rectification plans of some of the aforementioned institutions still involve directly providing personal information to financial institutions.</p><p>An expert in the field of monopolies told Caixin reporters that online platforms combine personal data with financial products, and the development of P2P lending in China follows such a simple logic. Under the current model, it means that all apps are doing personal credit reporting business, which is strictly speaking non-compliant. \"Of course, this is also related to the lagging behind of China's credit reporting industry, which has given internet companies arbitrage opportunities. In addition, it is also related to the lagging behind of China's small and medium-sized enterprises and personal financial business itself.\"</p><p>A senior financial industry analyst told Caixin reporters that the products of these platforms share a common characteristic: they are based on payment, collect data through payment transactions, and then add the promotion of higher-level financial products to the payment base. Its benefits are obvious to everyone. It is the foundation of modern commerce, can promote digital transformation, and even drive the development of the real economy. However, it also has some problems, such as leverage ratio and user data collection, which leads to \"choose one of two\" competition. It has gradually formed a monopolistic ecosystem. This poses a threat to the protection of user rights and even to the overall economic development.</p><p>Experts in the aforementioned monopoly field said that if the policy is implemented effectively, the path for various mobile apps to monetize data value through financial services will be greatly narrowed, or rather, basically blocked.</p><p>A senior researcher told Caixin reporters that, from the perspective of maintaining the broader market mechanism, strengthening anti-monopoly measures aims to maintain the normal operation of the market mechanism, which is at the top level. Regulatory authorities emphasize compliant financial operations, licensed operations, serving the real economy, inclusive finance, and financial consumers, and effectively protecting consumer rights and information security. These all fall under the broad scope of behavioral regulation, reflecting the continuous improvement of behavioral regulation's status as a \"dual pillar,\" which is also consistent with international experience. Enterprises need to adapt to this regulatory climate.</p><p>At the same time, the construction of China's internet finance credit reporting system is of paramount importance. Recently, Zhu Peiqing, who works at the Chifeng Central Sub-branch of the People's Bank of China, and Yang Lijuan, who works at the Keshiketeng Banner Sub-branch of the People's Bank of China, jointly wrote an article suggesting improving the system for protecting personal privacy rights.</p><p>First, improve relevant legal provisions. Formulate a practical \"Personal Information Protection Law\" to clarify the scope of personal information.</p><p>Second, we must take concrete and effective actions. Enterprises should strictly follow the management requirements of the \"Regulations on the Administration of the Credit Reporting Industry\" to carry out internet credit reporting activities, while further strengthening their ability to collect and supervise the use of big data credit information to provide strong support for the collection of big data credit information. Under the guidance of relevant laws and regulations, we will strengthen the punishment of those who break their promises. If there are serious breaches of trust, they should be held legally accountable.</p><p>Third, we will strengthen the supervision and management of credit information to ensure its security. Relevant departments should take active and effective measures to focus on establishing a database for internet finance supervision and internet credit information collection. Only by strengthening credit information security management and establishing a multi-channel personal information protection mechanism can we effectively prevent credit risks while providing comprehensive protection for the security of internet credit information collection data.</p>","source":"lsy1583384439392","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 People's Bank of China requires online platforms to sever direct connections between personal information and financial institutions.</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 People's Bank of China requires online platforms to sever direct connections between personal information and financial institutions.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">《财经》</strong><span class=\"h-time small\">2021-07-08 19:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>By Zhang Wei</p><p>According to multiple sources, the Credit Reference Bureau of the People's Bank of China recently issued a notice to online platform institutions, requiring them to achieve a complete \"direct disconnection\" between personal information and financial institutions.</p><p>This requirement is not a new directive, but rather an inherent part of the previous rectification requirements.</p><p>On April 29, 2021, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and other financial regulatory authorities (hereinafter referred to as the financial regulatory authorities) jointly conducted regulatory talks with 13 online platform companies engaged in financial business. The main reason for the meeting is that these online platforms generally have serious violations such as engaging in financial business without a license or beyond the scope of the license, inadequate corporate governance mechanisms, regulatory arbitrage, unfair competition, and infringement of consumers' legitimate rights and interests.</p><p>In response to the prominent problems that currently exist in the financial business of online platform companies, financial regulatory authorities have put forward seven major rectification requirements, one of which is to break the information monopoly and strictly conduct personal credit reporting business in accordance with laws and regulations through licensed credit reporting agencies.</p><p>According to this rectification requirement, when conducting business cooperation with financial institutions such as traffic generation, loan assistance, and joint loans, online platforms must directly provide information voluntarily submitted by individuals, information generated within the platform, or information obtained from external sources to financial institutions under the guise of application information, identity information, basic information, and personal profile and scoring information. This requires a complete \"disconnection\" between personal information and financial institutions.</p><p>According to Caixin reporters, the aforementioned institutions had completed their preliminary rectification plans by June 30, 2021. The reason why the Credit Reference Bureau of the People's Bank of China issued another notice to stop the direct connection between personal information on online platforms and financial institutions is that the rectification plans of some of the aforementioned institutions still involve directly providing personal information to financial institutions.</p><p>An expert in the field of monopolies told Caixin reporters that online platforms combine personal data with financial products, and the development of P2P lending in China follows such a simple logic. Under the current model, it means that all apps are doing personal credit reporting business, which is strictly speaking non-compliant. \"Of course, this is also related to the lagging behind of China's credit reporting industry, which has given internet companies arbitrage opportunities. In addition, it is also related to the lagging behind of China's small and medium-sized enterprises and personal financial business itself.\"</p><p>A senior financial industry analyst told Caixin reporters that the products of these platforms share a common characteristic: they are based on payment, collect data through payment transactions, and then add the promotion of higher-level financial products to the payment base. Its benefits are obvious to everyone. It is the foundation of modern commerce, can promote digital transformation, and even drive the development of the real economy. However, it also has some problems, such as leverage ratio and user data collection, which leads to \"choose one of two\" competition. It has gradually formed a monopolistic ecosystem. This poses a threat to the protection of user rights and even to the overall economic development.</p><p>Experts in the aforementioned monopoly field said that if the policy is implemented effectively, the path for various mobile apps to monetize data value through financial services will be greatly narrowed, or rather, basically blocked.</p><p>A senior researcher told Caixin reporters that, from the perspective of maintaining the broader market mechanism, strengthening anti-monopoly measures aims to maintain the normal operation of the market mechanism, which is at the top level. Regulatory authorities emphasize compliant financial operations, licensed operations, serving the real economy, inclusive finance, and financial consumers, and effectively protecting consumer rights and information security. These all fall under the broad scope of behavioral regulation, reflecting the continuous improvement of behavioral regulation's status as a \"dual pillar,\" which is also consistent with international experience. Enterprises need to adapt to this regulatory climate.</p><p>At the same time, the construction of China's internet finance credit reporting system is of paramount importance. Recently, Zhu Peiqing, who works at the Chifeng Central Sub-branch of the People's Bank of China, and Yang Lijuan, who works at the Keshiketeng Banner Sub-branch of the People's Bank of China, jointly wrote an article suggesting improving the system for protecting personal privacy rights.</p><p>First, improve relevant legal provisions. Formulate a practical \"Personal Information Protection Law\" to clarify the scope of personal information.</p><p>Second, we must take concrete and effective actions. Enterprises should strictly follow the management requirements of the \"Regulations on the Administration of the Credit Reporting Industry\" to carry out internet credit reporting activities, while further strengthening their ability to collect and supervise the use of big data credit information to provide strong support for the collection of big data credit information. Under the guidance of relevant laws and regulations, we will strengthen the punishment of those who break their promises. If there are serious breaches of trust, they should be held legally accountable.</p><p>Third, we will strengthen the supervision and management of credit information to ensure its security. Relevant departments should take active and effective measures to focus on establishing a database for internet finance supervision and internet credit information collection. Only by strengthening credit information security management and establishing a multi-channel personal information protection mechanism can we effectively prevent credit risks while providing comprehensive protection for the security of internet credit information collection data.</p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://mp.weixin.qq.com/s/cebxAK_g6AAo_Q2xvclvpA\">《财经》</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5a36a344ea9cacb03addddd87ef31cbe","relate_stocks":{"000001.SH":"上证指数"},"source_url":"https://mp.weixin.qq.com/s/cebxAK_g6AAo_Q2xvclvpA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188969765","content_text":"文/张威\n《财经》记者从多方信源获悉,人民银行征信管理局于近日给网络平台机构下发通知,要求网络平台实现个人信息与金融机构的全面“断直连”。\n这一要求并非新的指令,而是前期整改要求中的应有之义。\n2021年4月29日,人民银行、银保监会、证监会、外汇局等金融管理部门(以下简称金融管理部门)联合对13家从事金融业务的网络平台企业进行监管约谈。约谈主要的原因在于,这些网络平台普遍存在无牌或超许可范围从事金融业务、公司治理机制不健全、监管套利、不公平竞争、损害消费者合法权益等严重违规问题。\n针对当前网络平台企业从事金融业务中普遍存在的突出问题,金融监管部门提出了七大整改要求,其中一项便是打破信息垄断,严格通过持牌征信机构依法合规开展个人征信业务。\n按照这项整改要求,网络平台在与金融机构开展引流、助贷、联合贷等业务合作中,将个人主动提交的信息、平台内产生的信息或从外部获取的信息以申请信息、身份信息、基础信息、个人画像评分信息等名义直接向金融机构提供,须实现个人信息与金融机构的全面“断直连”。\n据《财经》记者了解,上述各机构已于2021年6月30日前完成初步整改方案。央行征信管理局之所以再次发布通知,叫停网络平台个人信息与金融机构的直连行为,源于上述一些机构的整改方案中依然存在直接为金融机构提供个人信息的情况。\n一位垄断话题领域的专家向《财经》记者表示,网络平台将个人数据与金融产品结合,国内互金发展就是这么简单的逻辑。现在的模式下等于所有的APP都在做个人征信业务,严格说其实是不合规的。“当然,这与中国征信业滞后也有一定的关系,使得互联网企业有了套利空间,此外,与中国中小微企业和个人金融业务本身滞后也有关。”\n一位金融行业资深分析师向《财经》记者表示,这些平台的产品有一个共同特点,就是以支付为基础,通过支付业务去收集数据,然后再在支付的基础上去叠加更高层次的金融产品的推广。它的好处大家都能看到,它是现代商业的基础,能够促进数字化转型,甚至带动实体行业发展,但其中也存在一些问题,比如杠杆率的问题,用户数据采集的问题,进而产生“二选一”竞争等,它慢慢形成了一种垄断生态。这样对用户权益保护,甚至整个经济发展都存在危害。\n上述垄断话题领域的专家表示,如果政策执行到位,对各类手机APP将数据价值通过金融业务变现的路子大大收窄,或者说基本堵上了。\n一位资深研究者向《财经》记者表示,从大的市场机制维护方面,强化反垄断意在维护市场机制的正常运转,这是最顶层的。监管部门强调金融合规经营,持牌经营,服务实体、服务普惠、服务金融消费者,切实保障消费者权益、保护信息安全等。这些都属于广义的行为监管范畴,体现了行为监管作为“双支柱”地位的持续提升,这也与国际经验相符,企业要适应这一监管气候。\n与此同时,中国互联网金融征信体系建设工作至关重要。近日,供职于中国人民银行赤峰市中心支行的朱沛庆,与供职于中国人民银行克什克腾旗支行的杨丽娟联名撰文建议健全个人隐私权益保护制度。\n第一,完善相关法律条款。制定切实可行的《个人信息保护法》,明确个人信息的范畴。\n第二,采取切实有效的行动。企业应严格按照《征信业管理条例》的管理要求,开展互联网征信活动,同时进一步加强大数据的信用信息收集和使用监督能力,为大数据的信用信息收集提供有力支持。并在相关法律法规的指导下,加强失信人失信惩处力度,如有严重失信行为,应追究其相应的法律责任。\n三是加强信用信息的监督管理,确保信用信息的安全。有关部门应当采取积极有效的措施,着力建立互联网金融监管和互联网信用信息收集数据库,通过加强信用信息安全管理,建立多条渠道的个人信息保护机制,才能在有效防止信用风险发生的同时,提供互联网信用信息收集数据安全的全面保障。","news_type":1,"symbols_score_info":{"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":5049,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":true}