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2021-06-29

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Netflix's Next Step: Becoming Disney?

2021-06-29

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Market Summary: The throne of "First Brother" in Shenzhen Stock Exchange changes hands! Haidilao "boils" against the trend

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Blue City Brothers' "Same Sex" Business Experience

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At $23.5/ADS, Dingdong Maicai sets IPO price at bottom of guidance range

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Tesla put CATL to the "C position"

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Buffett summed up 8 valuable experiences and lessons from the epidemic

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Buffett summed up 8 valuable experiences and lessons from the epidemic

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Morgan Stanley warns: Any strong U.S. economic data will hit markets

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Foreign investment frequently increases, and 20 times the space for fuel cells is ready to go

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Internet medical companies have set off a wave of listings, and Dingdang Kuaiyao sprints to be listed on the Hong Kong Stock Exchange

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Buffett: Many people's understanding of value investing is wrong!

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Under the wave of digital intelligence, how should the second-hand car e-commerce with "chicken feathers all over the place" break the situation?

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How to mine ten times bull stocks? Actually, it's right by your side!

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Attention! This leading stock in the industry chain has been swept by northbound funds for five consecutive weeks!

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Among them, up to $135<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, there are also T-shirts for $30, but mainly clothing priced between $30 and $80. In the future, Netflix will also launch a series of products such as Stranger Things The Witcher.</p><p><b>What these products have in common is that they are all peripheral products of Netflix's IP.</b></p><p>It's hard not to think of the top player in the IP licensing market-Disney. According to data from the International Licensing Industry Association (LIMA), global sales of licensed goods in 2019 were US $292.8 billion. Disney, the first place, accounted for US $54.7 billion, which is twice Netflix's full-year revenue in 2020.</p><p>Clearly, Netflix is targeting the IP licensing cake. Behind this are Netflix's hidden worries and ambitions.</p><p><b>Netflix's worries</b></p><p>2020 was almost the best year for Netflix since its inception. Because of the epidemic, many people's entertainment activities have turned online. As a result, Netflix also increased by 37 million paying subscribers, breaking the company's growth record, and the total number of paying subscribers also exceeded 200 million historically. Correspondingly, the full-year profit increased by 76%.</p><p>This company, which was founded as a DVD rental business, turned to streaming media in time at the end of the golden age of television. Since then, it has achieved double-digit growth in paying users year after year.</p><p><b>As a company with a market value of $230 billion, Netflix's business model is extremely simple-producing high-quality content and attracting consumers to pay for subscriptions.</b>In 2019, 98.52% of Netflix's revenue came from membership fees. Analogy to domestic long video platforms<a href=\"https://laohu8.com/S/IQ\">IQiyi</a>, membership fees only account for about 50% of its total revenue, and other revenue mainly comes from online advertising and content distribution. It can be said that the growth of Netflix's revenue depends entirely on the growth of users.<b>The flip side of this statement is that once paying subscribers fail to grow continuously, Netflix's business model will usher in a crisis.</b></p><p>As the pioneer of streaming media platforms and the largest number of users, Netflix may hit the ceiling of users earlier. Streaming platforms are essentially robbing subscribers from pay TV. Take the U.S. pay TV market as an example. After reaching a peak of 101 million paying users in 2011, it has declined year by year. At present, Netflix has about 67 million users in the United States, which means that more than half of potential users have already paid for Netflix. Just in the first quarter of 2021, Netflix added only 4 million new subscribers, lower than the expected 6 million, and Netflix's stock price fell 11%.</p><p>A poor quarter of performance isn't a serious problem for Netflix, the real bone-breaking thing-Netflix's market share may be being eroded by competitors.</p><p>In order to cope with the revenue pressure brought about by the slowdown in user growth, Netflix's membership fee has increased five times. The most recent one occurred in October 2020, when the basic package remained unchanged at $8.99, and the standard and basic packages increased by $1 and $2 to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for more than a decade, HBO NOW ($14.99 for ad-free version) and HULU ($11.99 for ad-free version), but it is not much different from Disney,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared with these ambitious new generation of entrants, there is no advantage. Disney + costs just $7.99 a month, and Apple TV + costs even less at just $4.99.</p><p>The past year has almost been the Warring States Period of global streaming media, with giants Disney, Apple, and Paramount entering the market one after another.</p><p>When asked at an earnings analysis conference in the first quarter of this year how he viewed the current competition, Reed Hastings, the founder of Netflix, responded this way: Obviously, there is always new competition. But when we look at the past data, the company has been growing because we are also confident.</p><p>The confidence of the founders is one aspect, but the giants' encroachment on Netflix is also real. In 2020, Netflix's market share of original programming fell to 50% from 56% at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global Original Programming Market Share. Data Source : Parrot Analytics. Image Source:<a href=\"https://laohu8.com/S/NYT\">The New York Times</a></p><p>Behind this is the loss of content from Netflix. Because of the launch of Disney +, Netflix removed a series of Disney IP content. HBO, on the other hand, also got back the copyrights of Friends, The Big Bang Theory, Studio Ghibli and other works. Similarly, the old sitcom \"The Office\" was taken back by NBC.</p><p>Among the viewing time of subscribers, Netflix's self-produced dramas only account for 30% of the total, and the rest come from external copyrights. According to the data of \"China Business News\" magazine, the top three works on Netflix in 2018 were \"The Office\", \"Friends\" and \"Grey's Anatomy.\" New content may be the key to driving user growth, but for old audiences, they are more inclined to choose works they are familiar with.</p><p>Netflix, which has been making efforts in original content, has withdrawn most of its production plans due to the epidemic. Currently, Netflix doesn't have any big return series.</p><p>Netflix's model is more or less like a one-shot deal. After the user watches the episode, he will no longer have contact with the show. Netflix's Stranger Things \"House of Cards\" has a large number of diehard fans, but a single subscription payment model cannot fully tap the value of these IPs. This leads to a strange phenomenon: on the one hand, there are fans holding banknotes and screaming Shut up and take my money, and on the other hand, there are indifferent officials.</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Credit: memegenetator</p><p>Last year, Netflix's self-produced documentary \"Tiger King\" was watched by 34.3 million people within 10 days of its launch, making it Netflix's most successful series. A large number of \"Tiger King\" peripherals immediately appeared on the e-commerce brand Esty. But except for all, they are all copycats.</p><p>Searching for Tiger King on Esty still yields 8195 results. Credit: Esty</p><p>It's not difficult to understand why Netflix wants to launch an online mall. In the official Netflix blog, Josh Simon, head of Netflix Shop and vice president of consumer goods division, wrote:<b>We love seeing good stories go beyond the screen and become part of people's lives.</b>」「<b>We are constantly thinking about how we can expand our story world for fans, from costumes and toys to immersive events and games.</b>That's why today we're launching Netflix.shop as an exciting new destination that combines carefully curated products and rich stories in a unique Netflix shopping experience.</p><p>There's one thing reading between the lines:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man went to a hotel to find Walter Disney, offered $300 and asked for the image of Mickey Mouse to be printed on a writing table. The $300 became Disney's first franchise revenue. Nearly a hundred years later, this $300 became a big business of $54.7 billion.</p><p>Open Disney's IP list, and you will find that this is almost an endless list. In addition to its own original IPs, such as Mickey Mouse, * the Bear, Disney Princess, Lion King, etc., Disney also frantically acquired Pixar, Marvel Comics, Lucasfilm, and 20th Century Fox in the first 20 years of the 21st century. In other words, except Mickey Mouse, all the IPs you are familiar with such as Avengers, Star Wars, Avatar and Toy Story belong to Disney.</p><p>Family portraits of Disney's IP characters. Image credit: psu.edu</p><p>According to TitleMax data in 2019, 8 of the 20 most profitable IPs in the world are from Disney, with a cumulative economic value of US $355.182 billion. Among them, * the Bear, Mickey Mouse and Star Wars ranked 3rd, 4th and 5th respectively. These old IPs, which have been more than 40 years or even nearly a hundred years old, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The remaining TOP 20 Disney IPs are Disney Princess at No. 7, Marvel Universe at No. 11, Spider-Man at No. 12, Cars at No. 18 and Toy Story at No. 19. Credit: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>The movie itself may not make money, but it must drive the development of related products</b>。 Walt Disney clearly knows this well. As early as 1957, he drew a sketch that clearly described Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model painted by Walt Disney. Credit: kottke.org</p><p>In this sketch, the film studio is in a clear central position, surrounded by music, television, licensed merchandise, theme parks and publications. Take magazines, for example, movies provide articles for magazines, and magazines can promote movies and Disneyland. Each piece is closely connected, cooperating with each other and complement each other.</p><p>To this day, Disney still hasn't broken away from the underlying logic of this model. Disney never regards the animated images created as disposable consumer goods, but digs deeply as a gold mine that can be consumed for a long time. When Disney makes a movie, the company doesn't just think about the movie itself, but how to transform the story into goods, services, experiences and other derivative products. As former Disney CFO Jay Rasulo said: Every aspect of the company is brand-oriented and franchise-oriented.</p><p>Today, Disney's model is called<b>Round revenue</b>。</p><p>First of all, Disney will launch movies with IP stories as the core at a high cost, and earn the first round of revenue through the box office.</p><p>Then, Disney will sell the film rights to streaming platforms to earn a second round of revenue</p><p>At the same time, every time Disney launches a new movie, it will add corresponding new characters to the theme park, and earn the third round of revenue through Disneyland.</p><p>Finally, earn a fourth round of revenue through franchising, publishing, retail, etc.</p><p>Through these four rounds of revenue, Disney clearly squeezed out the profits of every IP. These various profit channels give Disney a key advantage over Netflix and continue the vitality of its IP.</p><p><b>Build love for stories and turn love into money</b></p><p>Unlike Disney, Netflix has no plans to build offline stores. Currently, Netflix has cooperated with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, H&M, Sephora and other retailers have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online mall system together with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times, and Kim Kardashian's brand Skims.</p><p>Simon, the project leader of Netflix Shop, once stayed at Disney Studios for six years as the production and development director.</p><p>All these messages seem to indicate Netflix's determination: Hey! We are not playing tickets, we are serious!</p><p>For years, Netflix has shied away from being an entertainment company or a tech company. Just recently, Hastings, the founder of Netflix, declared: We are really an entertainment company.</p><p>According to Matthew Ball, a former Amazon Studio executive,<b>Essentially, an entertainment company does only three things:</b></p><p><ol><li><b>Create/tell a story</b></p><p></li><li><b>Build love for these stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By that standard, Disney is easily the best company on the planet. Think about it, how many little girls want to wear Elsa's long blue dress while visiting Disneyland? How many parents will pay for it?</p><p>Netflix has done a good enough job of telling stories and building love, but can it turn love into money?</p><p>Mark A Cohen, director of retail research at Columbia Business School, expressed doubts: Most of them (Netflix's hits) have short shelf lives, unlike Disney's IPs, which are a long journey of a generation.</p><p>Despite a lot of uncertainty, this is undoubtedly Netflix's best year financially. The company has borrowed a total of $16 billion in the past 10 years. Late last year, Netflix said in its fourth-quarter earnings report that it no longer needed to seek borrowings to fund the company. In other words, Netflix has become a truly profitable company.</p><p>And its other streaming competitors are still losing money, including Disney.</p>","source":"jkgy","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>Netflix's Next Step: Becoming Disney?</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\">\nNetflix's Next Step: Becoming Disney?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">极客公园</strong><span class=\"h-time small\">2021-06-29 15:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the face of the film and television giants who are aggressively counterattacking, although Netflix has begun to make money, this is far from enough.</p><p>Netflix Starts Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>Yeah, I've got it.</p><p>Just as Aiyouteng was still competing with the short video industry, Netflix, which was already profitable, launched Netflix Shop and entered the e-commerce field for the first time.</p><p>The Netflix Shop currently has a very limited number of items on sale, but 18. Among them, up to $135<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, there are also T-shirts for $30, but mainly clothing priced between $30 and $80. In the future, Netflix will also launch a series of products such as Stranger Things The Witcher.</p><p><b>What these products have in common is that they are all peripheral products of Netflix's IP.</b></p><p>It's hard not to think of the top player in the IP licensing market-Disney. According to data from the International Licensing Industry Association (LIMA), global sales of licensed goods in 2019 were US $292.8 billion. Disney, the first place, accounted for US $54.7 billion, which is twice Netflix's full-year revenue in 2020.</p><p>Clearly, Netflix is targeting the IP licensing cake. Behind this are Netflix's hidden worries and ambitions.</p><p><b>Netflix's worries</b></p><p>2020 was almost the best year for Netflix since its inception. Because of the epidemic, many people's entertainment activities have turned online. As a result, Netflix also increased by 37 million paying subscribers, breaking the company's growth record, and the total number of paying subscribers also exceeded 200 million historically. Correspondingly, the full-year profit increased by 76%.</p><p>This company, which was founded as a DVD rental business, turned to streaming media in time at the end of the golden age of television. Since then, it has achieved double-digit growth in paying users year after year.</p><p><b>As a company with a market value of $230 billion, Netflix's business model is extremely simple-producing high-quality content and attracting consumers to pay for subscriptions.</b>In 2019, 98.52% of Netflix's revenue came from membership fees. Analogy to domestic long video platforms<a href=\"https://laohu8.com/S/IQ\">IQiyi</a>, membership fees only account for about 50% of its total revenue, and other revenue mainly comes from online advertising and content distribution. It can be said that the growth of Netflix's revenue depends entirely on the growth of users.<b>The flip side of this statement is that once paying subscribers fail to grow continuously, Netflix's business model will usher in a crisis.</b></p><p>As the pioneer of streaming media platforms and the largest number of users, Netflix may hit the ceiling of users earlier. Streaming platforms are essentially robbing subscribers from pay TV. Take the U.S. pay TV market as an example. After reaching a peak of 101 million paying users in 2011, it has declined year by year. At present, Netflix has about 67 million users in the United States, which means that more than half of potential users have already paid for Netflix. Just in the first quarter of 2021, Netflix added only 4 million new subscribers, lower than the expected 6 million, and Netflix's stock price fell 11%.</p><p>A poor quarter of performance isn't a serious problem for Netflix, the real bone-breaking thing-Netflix's market share may be being eroded by competitors.</p><p>In order to cope with the revenue pressure brought about by the slowdown in user growth, Netflix's membership fee has increased five times. The most recent one occurred in October 2020, when the basic package remained unchanged at $8.99, and the standard and basic packages increased by $1 and $2 to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for more than a decade, HBO NOW ($14.99 for ad-free version) and HULU ($11.99 for ad-free version), but it is not much different from Disney,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared with these ambitious new generation of entrants, there is no advantage. Disney + costs just $7.99 a month, and Apple TV + costs even less at just $4.99.</p><p>The past year has almost been the Warring States Period of global streaming media, with giants Disney, Apple, and Paramount entering the market one after another.</p><p>When asked at an earnings analysis conference in the first quarter of this year how he viewed the current competition, Reed Hastings, the founder of Netflix, responded this way: Obviously, there is always new competition. But when we look at the past data, the company has been growing because we are also confident.</p><p>The confidence of the founders is one aspect, but the giants' encroachment on Netflix is also real. In 2020, Netflix's market share of original programming fell to 50% from 56% at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global Original Programming Market Share. Data Source : Parrot Analytics. Image Source:<a href=\"https://laohu8.com/S/NYT\">The New York Times</a></p><p>Behind this is the loss of content from Netflix. Because of the launch of Disney +, Netflix removed a series of Disney IP content. HBO, on the other hand, also got back the copyrights of Friends, The Big Bang Theory, Studio Ghibli and other works. Similarly, the old sitcom \"The Office\" was taken back by NBC.</p><p>Among the viewing time of subscribers, Netflix's self-produced dramas only account for 30% of the total, and the rest come from external copyrights. According to the data of \"China Business News\" magazine, the top three works on Netflix in 2018 were \"The Office\", \"Friends\" and \"Grey's Anatomy.\" New content may be the key to driving user growth, but for old audiences, they are more inclined to choose works they are familiar with.</p><p>Netflix, which has been making efforts in original content, has withdrawn most of its production plans due to the epidemic. Currently, Netflix doesn't have any big return series.</p><p>Netflix's model is more or less like a one-shot deal. After the user watches the episode, he will no longer have contact with the show. Netflix's Stranger Things \"House of Cards\" has a large number of diehard fans, but a single subscription payment model cannot fully tap the value of these IPs. This leads to a strange phenomenon: on the one hand, there are fans holding banknotes and screaming Shut up and take my money, and on the other hand, there are indifferent officials.</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Credit: memegenetator</p><p>Last year, Netflix's self-produced documentary \"Tiger King\" was watched by 34.3 million people within 10 days of its launch, making it Netflix's most successful series. A large number of \"Tiger King\" peripherals immediately appeared on the e-commerce brand Esty. But except for all, they are all copycats.</p><p>Searching for Tiger King on Esty still yields 8195 results. Credit: Esty</p><p>It's not difficult to understand why Netflix wants to launch an online mall. In the official Netflix blog, Josh Simon, head of Netflix Shop and vice president of consumer goods division, wrote:<b>We love seeing good stories go beyond the screen and become part of people's lives.</b>」「<b>We are constantly thinking about how we can expand our story world for fans, from costumes and toys to immersive events and games.</b>That's why today we're launching Netflix.shop as an exciting new destination that combines carefully curated products and rich stories in a unique Netflix shopping experience.</p><p>There's one thing reading between the lines:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man went to a hotel to find Walter Disney, offered $300 and asked for the image of Mickey Mouse to be printed on a writing table. The $300 became Disney's first franchise revenue. Nearly a hundred years later, this $300 became a big business of $54.7 billion.</p><p>Open Disney's IP list, and you will find that this is almost an endless list. In addition to its own original IPs, such as Mickey Mouse, * the Bear, Disney Princess, Lion King, etc., Disney also frantically acquired Pixar, Marvel Comics, Lucasfilm, and 20th Century Fox in the first 20 years of the 21st century. In other words, except Mickey Mouse, all the IPs you are familiar with such as Avengers, Star Wars, Avatar and Toy Story belong to Disney.</p><p>Family portraits of Disney's IP characters. Image credit: psu.edu</p><p>According to TitleMax data in 2019, 8 of the 20 most profitable IPs in the world are from Disney, with a cumulative economic value of US $355.182 billion. Among them, * the Bear, Mickey Mouse and Star Wars ranked 3rd, 4th and 5th respectively. These old IPs, which have been more than 40 years or even nearly a hundred years old, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The remaining TOP 20 Disney IPs are Disney Princess at No. 7, Marvel Universe at No. 11, Spider-Man at No. 12, Cars at No. 18 and Toy Story at No. 19. Credit: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>The movie itself may not make money, but it must drive the development of related products</b>。 Walt Disney clearly knows this well. As early as 1957, he drew a sketch that clearly described Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model painted by Walt Disney. Credit: kottke.org</p><p>In this sketch, the film studio is in a clear central position, surrounded by music, television, licensed merchandise, theme parks and publications. Take magazines, for example, movies provide articles for magazines, and magazines can promote movies and Disneyland. Each piece is closely connected, cooperating with each other and complement each other.</p><p>To this day, Disney still hasn't broken away from the underlying logic of this model. Disney never regards the animated images created as disposable consumer goods, but digs deeply as a gold mine that can be consumed for a long time. When Disney makes a movie, the company doesn't just think about the movie itself, but how to transform the story into goods, services, experiences and other derivative products. As former Disney CFO Jay Rasulo said: Every aspect of the company is brand-oriented and franchise-oriented.</p><p>Today, Disney's model is called<b>Round revenue</b>。</p><p>First of all, Disney will launch movies with IP stories as the core at a high cost, and earn the first round of revenue through the box office.</p><p>Then, Disney will sell the film rights to streaming platforms to earn a second round of revenue</p><p>At the same time, every time Disney launches a new movie, it will add corresponding new characters to the theme park, and earn the third round of revenue through Disneyland.</p><p>Finally, earn a fourth round of revenue through franchising, publishing, retail, etc.</p><p>Through these four rounds of revenue, Disney clearly squeezed out the profits of every IP. These various profit channels give Disney a key advantage over Netflix and continue the vitality of its IP.</p><p><b>Build love for stories and turn love into money</b></p><p>Unlike Disney, Netflix has no plans to build offline stores. Currently, Netflix has cooperated with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, H&M, Sephora and other retailers have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online mall system together with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times, and Kim Kardashian's brand Skims.</p><p>Simon, the project leader of Netflix Shop, once stayed at Disney Studios for six years as the production and development director.</p><p>All these messages seem to indicate Netflix's determination: Hey! We are not playing tickets, we are serious!</p><p>For years, Netflix has shied away from being an entertainment company or a tech company. Just recently, Hastings, the founder of Netflix, declared: We are really an entertainment company.</p><p>According to Matthew Ball, a former Amazon Studio executive,<b>Essentially, an entertainment company does only three things:</b></p><p><ol><li><b>Create/tell a story</b></p><p></li><li><b>Build love for these stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By that standard, Disney is easily the best company on the planet. Think about it, how many little girls want to wear Elsa's long blue dress while visiting Disneyland? How many parents will pay for it?</p><p>Netflix has done a good enough job of telling stories and building love, but can it turn love into money?</p><p>Mark A Cohen, director of retail research at Columbia Business School, expressed doubts: Most of them (Netflix's hits) have short shelf lives, unlike Disney's IPs, which are a long journey of a generation.</p><p>Despite a lot of uncertainty, this is undoubtedly Netflix's best year financially. The company has borrowed a total of $16 billion in the past 10 years. Late last year, Netflix said in its fourth-quarter earnings report that it no longer needed to seek borrowings to fund the company. In other words, Netflix has become a truly profitable company.</p><p>And its other streaming competitors are still losing money, including Disney.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw\">极客公园</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e2224e6b43e75f835dbd8bb6d8c4972c","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","DIS":"迪士尼","NFLX":"奈飞"},"source_url":"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138372330","content_text":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix Shop，首次进入了电商领域。\nNetflix Shop 目前在售的商品数量还很有限，不过 18 种。其中有高达 135 美元的机器人闹钟，也有 30 美元的 T 恤，但主要还是价位在 30 至 80 美元的服饰。未来，Netflix 还会推出《怪奇物语》《猎魔人》等系列商品。\n这些商品的共同点在于——它们都是 Netflix 旗下 IP 的周边产品。\n这很难让人不联想到 IP 授权市场里的那个顶级玩家——迪士尼。根据国际授权业协会（LIMA）数据显示，2019 年全球授权商品的销售额为了 2928 亿美元。第一名迪士尼就占了 547 亿美元，这个数字，是 Netflix 2020 全年收入的两倍。\n显然，Netflix 瞄准了 IP 授权的蛋糕。这背后，是 Netflix 的隐忧，和野心。\nNetflix 的隐忧\n2020 年几乎是 Netflix 诞生以来最好的一年。因为疫情宅家的原因，许多人的娱乐活动都转向了线上。Netflix 也因此增长了 3700 万付费用户，打破了该公司的增长纪录，总付费用户数也历史性地突破 2 亿。相应的，全年利润增长了 76%。\n这家创立时做 DVD 租赁生意的公司，在电视黄金时代的末尾，及时转向了流媒体业务。此后年年实现了付费用户两位数以上的增长。\n作为一家市值 2300 亿美元的公司，Netflix 的商业模式却极其简单——生产优质内容，吸引消费者付费订阅。2019 年，Netflix 98.52% 的收入都来自会员费。类比国内的长视频平台爱奇艺，会员费仅占其总营收的约 50%，其它的收入主要来自在线广告和内容分发。可以说，Netflix 营收的增长完全取决于用户的增长。这句话的另一面是，一旦付费用户无法持续增长，Netflix 的商业模式就会迎来危机。\n作为流媒体平台的先驱和用户数量最庞大的 Netflix，可能更早撞上用户天花板。流媒体平台本质上是抢夺了付费电视的用户。以美国付费电视市场为例，在 2011 年付费用户达到 1.01 亿的顶峰后就逐年下滑。目前 Netflix 的美国用户约为 6700 万，也就是说，超过半数的潜在用户已经为 Netflix 买了单。就在 2021 年第一季度，Netflix 新增用户仅为 400 万，低于预期的 600 万，Netflix 的股价应声下跌了 11%。\n一个季度的糟糕表现对 Netflix 来说并不是什么严重的问题，真正伤筋动骨的是——Netflix 的市场份额可能正在被竞争对手蚕食。\n为了应对用户增长放缓带来的营收压力，Netflix 的会员费先后上涨过 5 次。最近的一次发生在 2020 年 10 月份, 基础套餐维持在 8.99 美元不变，标准和基础套餐别上涨了 1 美元和 2 美元，至 13.99 美元和 17.99 美元。\n这个价格与 Netflix 过于十几年来的主要竞争对手 HBO NOW（无广告版 14.99 美元）、HULU（无广告版 11.99 美元）差别不大，但是和迪士尼、苹果这些野心勃勃的新一代入场者相比，就没有什么优势了。迪士尼+的月费仅为 7.99 美元，苹果 TV+的费用甚至更低，仅为 4.99 美元。\n过去一年几乎是全球流媒体的战国时代，巨头迪士尼、苹果、派拉蒙相继入场。\n在今年一季度的财报分析会议上，当被问及如何看待当下的竞争时，Netflix 的创始人里德·黑斯廷斯（Reed Hastings）是这么回应的：「很明显，新的竞争一直存在。但是当我们翻看过往的数据，公司一直在保持增长，因为我们也很有信心。」\n创始人的信心是一方面，但巨头们对 Netflix 的蚕食也是实实在在。2020 年，Netflix 原创节目的市场份额从年初的 56% 跌至了 50%。\n全球原创节目市场份额。数据来源：Parrot Analytics。图片来源：纽约时报\n这背后，是 Netflix 的内容流失。因为迪士尼+的上线，Netflix 下架了一系列迪士尼 IP 内容。而 HBO，也拿回了《老友记》《生活大爆炸》、吉卜力工作室等作品的版权。同样的，老牌情景喜剧《办公室》也被 NBC 收回旗下。\n在订阅用户的观看时长中，Netflix 自制剧仅占总数的 30%，其它都来自外部版权。根据《第一财经》杂志的数据，2018 年 Netflix 播放时长前三的作品正是《办公室》《老友记》和《实习医生格蕾》。新内容可能是拉动用户增长的关键，但是对于老观众来说，他们更倾向于选择自己熟悉的作品。\n一直在原创内容发力的 Netflix，因为疫情的缘故，撤回了大部分制作计划。目前，Netflix 还没有任何大型的回归系列。\nNetflix 的模式多少像是一锤子买卖。用户观看完剧集后，就和这部剧不再发生联系。Netflix 旗下的《怪奇物语》《纸牌屋》有大批的死忠粉丝，但单一的订阅付费模式并不能完全挖掘这些 IP 的价值。这就出现了一种奇怪的现象：一边是手握钞票嗷嗷叫着「Shut up and take my money」的粉丝，一边是「无动于衷」的官方。\n图片来源：memegenetator\n去年 Netflix 自制纪录片《虎王》上线 10 天就有 3430 万人观看，是 Netflix 最成功的剧集。在电商品牌 Esty 上立刻出现了大量《虎王》周边。但无一列外，它们都是山寨的。\n在 Esty 上搜索「虎王」，仍有 8195 条结果。图片来源：Esty\n这就不难理解为什么 Netflix 要推出线上商城。在 Netflix 官方博客中，Netflix Shop 的负责人、消费品部门副总裁约什·西蒙（Josh Simon）如此写道：「我们喜欢看到好故事超越屏幕，成为人们生活的一部分。」「我们一直在考虑如何为粉丝们拓展我们的故事世界，从服装和玩具到身临其境的事件和游戏。这也是为什么今天我们推出 Netflix.shop，将其作为一个令人兴奋的新目的地，将精心策划的产品和丰富的故事结合在一个独特的 Netflix 购物体验中。」\n这字里行间都在说一件事：我们想要成为迪士尼！\n迪士尼魔法\n1929 年，有一个人到旅馆找到沃尔特·迪士尼（Walter Disney），拿出 300 美元，要求把米老鼠的形象印在写字桌上。这 300 美元成了迪士尼的第一笔「特许经营」收入。近百年后，这 300 美元成了 547 亿美元的大生意。\n翻开迪士尼的 IP 清单，你会发现这几乎是一本长不见底的名录。除了自有的原创 IP，如米老鼠、小熊维尼、迪士尼公主、狮子王等，迪士尼在 21 世纪的头 20 年还疯狂收购了皮克斯、漫威、卢卡斯影业、二十世纪福克斯。也就是说，除了米老鼠，你所熟悉的复仇者联盟、星球大战、阿凡达、玩具总动员这些 IP 全部都属于迪士尼。\n迪士尼旗下 IP 人物全家福。图片来源：psu.edu\n根据 TitleMax 2019 年的数据，全球最赚钱的 20 个 IP 中有 8 个来自迪士尼，累计经济价值达 3551.82 亿美元。其中小熊维尼、米老鼠、星球大战分别位列第 3、4、5 位。这些超过了 40 年甚至近百年的老 IP，依旧爆发出了惊人的生命力。\n其余 TOP 20 的迪士尼 IP 分别是第 7 位的迪士尼公主、11 位的漫威宇宙、12 位的蜘蛛侠、18 位的赛车总动员和 19 位的玩具总动员。图片来源：TITLEMAX\n在好莱坞，有一个著名的火车头理论：电影本身可以不赚钱，但它必须带动相关产品的发展。沃尔特·迪士尼显然深谙此道。早在 1957 年，他就画下了一张草图，清晰描述了迪士尼的商业模式。\n沃尔特·迪士尼画下的迪士尼商业模式。图片来源：kottke.org\n在这张草图中，电影制片厂处在了明确的中心位置，音乐、电视、授权商品、主题乐园和出版物都环绕在四周。拿杂志来说，电影为杂志提供了文章内容，杂志则可以宣传电影和迪士尼乐园。每一部分都紧密联系在一起，相互配合，相互补充。\n时至今日，迪士尼公司依旧没有脱离这套模式的底层逻辑。迪士尼从不把创作出的动画形象看成一次性消费品，而是作为一个可长久消费的金矿去深度挖掘。当迪士尼制作一部电影时，公司不仅仅是考虑电影本身，而如何将故事转化为商品、服务、体验和其它衍生产品。正如迪士尼前首席财务官杰·拉苏洛（Jay Rasulo）所说：「公司的每个方面都是面向品牌和特许经营的。」\n在今天，迪士尼的这种模式被叫做轮次收入。\n首先，迪士尼会以高成本推出以 IP 故事为核心的电影，通过票房赚取第一轮收入。\n然后，迪士尼会把影片版权卖给流媒体平台，赚取第二轮收入\n同时，迪士尼每推出一部新电影就会在主题乐园中增加相应的新人物，通过迪士尼乐园赚取第三轮收入。\n最后，通过特许经营、出版、零售等方式赚取第四轮收入。\n通过这四轮收入，迪士尼明明白白地「榨干」了每一个 IP 的利润。这些多种多样的盈利渠道使迪士尼比 Netflix 拥有了关键的优势，更加延续了旗下 IP 的生命力。\n为故事建立爱，把爱变成钱\n与迪士尼不同，Netflix 并没有建立线下门店的计划。目前，Netflix 已经和 Target、沃尔玛、亚马逊、H&M、丝芙兰等零售商签订了数百种周边产品的许可协议。\nNetflix 还和电商平台 Shopify 一起开发了线上商城系统。此前，Shopify 已经为 Allbirds、Kith、《纽约时报》和金·卡戴珊（Kim Kardashian）的品牌 Skims 提供过技术支持。\n而 Netflix Shop 的项目负责人西蒙，就曾经在迪士尼工作室呆过六年，担任制作和开发总监。\n这些信息似乎都在表明 Netflix 的决心：「嘿！我们可不是在玩票，我们是认真的！」\n多年来，Netflix 一直回避自己是一家娱乐公司还是科技公司。就在最近，Netflix 创始人黑斯廷斯宣称：「我们真的是一家娱乐公司。」\n按照亚马逊工作室（Amazon Studio）前高管马修·鲍尔（Matthew Ball）的说法，从本质上讲，一家娱乐公司只做三件事：\n\n创造/讲述故事\n为这些故事建立爱\n把爱变成钱\n\n按照这个标准来说，迪士尼无疑是这个星球上做得最好的公司。想想看，有多少小女孩想在逛迪士尼乐园的时候穿上爱莎的蓝色长裙？又有多少家长会为此买单？\n在讲故事和建立爱上，Netflix 已经做得足够好了，但它能把爱变成钱吗？\n哥伦比亚商学院的零售研究主任马克·A·科恩（Mark A Cohen）就表示了怀疑：「它们（Netflix 的热播剧）大多数的保质期都很短，不像迪士尼的 IP，那是一代人的漫长旅程。」\n尽管有非常多的不确定性，但当下无疑是 Netflix 财务状况最好的一年。这家公司在过去 10 年总共借款达 160 亿美元。去年年底，Netflix 在第四季度财报上表示，它不再需要寻求借款来为公司提供资金。换句话说，Netflix 成为了一家真正盈利的公司。\n而它的其它流媒体竞争对手，都还在亏着钱，包括迪士尼。","news_type":1,"symbols_score_info":{"NFLX":0.9,"QNETCN":0.9,"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":2358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274464,"gmtCreate":1624972925358,"gmtModify":1703849126697,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274464","repostId":"1118894802","repostType":4,"repost":{"id":"1118894802","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624955420,"share":"https://ttm.financial/m/news/1118894802?lang=en_US&edition=fundamental","pubTime":"2021-06-29 16:30","market":"hk","language":"zh","title":"Market Summary: The throne of \"First Brother\" in Shenzhen Stock Exchange changes hands! Haidilao \"boils\" against the trend","url":"https://stock-news.laohu8.com/highlight/detail?id=1118894802","media":"老虎资讯综合","summary":"港股\n港股三大指数全日呈单边下跌行情，市场整体情绪表现平淡。截至收盘，恒指跌0.94%报28994点，国指跌0.98%报10757点，恒生科技指数跌0.91%报8201点。\n\n盘面上，石油板块跌幅居前","content":"<p><b>Hong Kong Stocks</b></p><p>The three major Hong Kong stock indexes showed a unilateral decline throughout the day, and the overall market sentiment was dull. As of the close, the Hang Seng Index fell 0.94% to 28,994 points, the State Index fell 0.98% to 10,757 points, and the Hang Seng Technology Index fell 0.91% to 8201 points.</p><p><img src=\"https://static.tigerbbs.com/c7f0b8ac73315eee841216419d34c674\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>On the disk, the oil sector was among the top losers, and all three barrels of oil fell sharply, dragging the market down; Recently, strong biomedical stocks and port shipping stocks have pulled back across the board, financial stocks (insurance, securities firms, banks) have performed sluggishly, and energy stocks such as home appliance stocks, aviation stocks, medical beauty stocks, gas stocks, defense stocks, gambling stocks, and coal generally fell; Big tech stocks were mixed,<a href=\"https://laohu8.com/S/09999\">NetEase-S</a>Bucking the trend, it rose 3.6%,<a href=\"https://laohu8.com/S/09618\">Jingdong Group-SW</a>、<a href=\"https://laohu8.com/S/09888\">Baidu Group-SW</a>Closed up,<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/09988\">Alibaba-SW</a>、<a href=\"https://laohu8.com/S/03690\">Meituan-W</a>All fell; Catering stocks rebounded sharply,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Rose nearly 9%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Up 4.5%; Photovoltaic stocks are strong, property management stocks continue to rise,<a href=\"https://laohu8.com/S/00873\">Shimao Services</a>Waiting for many stocks to continue to hit new high prices. The market turnover was 146.1 billion Hong Kong dollars, and the net inflow of southbound funds bucked the trend and was 963 million Hong Kong dollars.</p><p><b>A Shares</b></p><p>The three major indexes pulled back. The Shanghai Composite Index consolidated weakly above the 30-day line, closing down 0.92% to 3,573 points throughout the day, the Shenzhen Component Index fell 0.99% to 14,999 points, and the ChiNext Index fell 0.19% to 3,406 points. More than 3,100 stocks in the two cities fell, and the market sentiment and profit-making effect dropped significantly. The turnover returned to below the trillion once again after seven trading days, reaching 997.4 billion, and the net sales of northbound funds throughout the day were 3.14 billion.</p><p><img src=\"https://static.tigerbbs.com/55bf301fcd48fb59b0f70e721046a291\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The performance of theme concepts is sluggish, and concept stocks such as military industry, finance, liquor, chips, and 5G generally fall; Most funds flow to photovoltaic concepts,<a href=\"https://laohu8.com/S/300118\">Sunrise Oriental</a>Wait for the daily limit of ten stocks,<a href=\"https://laohu8.com/S/601012\">LONGi shares</a>Rose more than 3%; The concept of silicone is strong throughout the day,<a href=\"https://laohu8.com/S/603260\">Hesheng Silicon Industry</a>The daily limit hit a new high; Concepts such as HIT batteries, lithium extraction from salt lakes, babies and children, and online travel were active, and most textile and apparel stocks rose.</p><p><a href=\"https://laohu8.com/S/300750\">Ningde era</a>The stock price hit a record high again. As of the close, it rose nearly 3%. The latest market value was 1,184.3 billion yuan, surpassing<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>Become the \"first brother\" of Shenzhen Stock Exchange.</p><p><img src=\"https://static.tigerbbs.com/93d3ce21ca8d59215a3c2e1be2a9f337\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>US stocks</b></p><p>The three major U.S. stock index futures were mixed. As of press time, Dow futures rose 0.17%; Nasdaq 100 futures fell 0.24%; S&P 500 futures fell 0.02%.</p><p><img src=\"https://static.tigerbbs.com/83895d64ec668d72dcb5edf73dbeff5d\" tg-width=\"478\" tg-height=\"182\" referrerpolicy=\"no-referrer\"></p><p>Morgan Stanley rose more than 2% before the market. Morgan Stanley doubled its quarterly Dividend to 70 cents and will repurchase up to $12 billion in shares.</p><p><img src=\"https://static.tigerbbs.com/72c436e1b865ee4e1d224f056bfd31ee\" tg-width=\"1302\" tg-height=\"833\"></p><p><b>European stocks</b></p><p>Major European indexes rose across the board. As of press time, the German DAX index rose 0.57%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.33%, the French CAC40 index rose 0.35%, and the European Stoxx 50 index rose 0.37%.</p><p><img src=\"https://static.tigerbbs.com/2b257919c3a4379a1b3848f144a0a925\" tg-width=\"820\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><b>crude oil</b></p><p>International oil prices fell slightly. As of press time, WTI crude oil was at US $72.79/barrel, down 0.16%; Brent oil is now trading at $74.55 a barrel, down 0.17%.</p><p>International oil prices have been dragged down by concerns about slowing fuel demand growth, as a new outbreak of the highly contagious new coronavirus variant Delta has triggered new movement restrictions around the world. However, U.S. shale oil producers still stick to the commitment pointed out to suspend the expansion, which is different from what they did during previous waves of boom cycles and is good for the oil market.</p><p><img src=\"https://static.tigerbbs.com/2317c0df6a343fd5277e3356ad5ee5b4\" tg-width=\"822\" tg-height=\"833\"><img src=\"https://static.tigerbbs.com/e4c741ddb202c84a0df34706caf5f957\" tg-width=\"822\" tg-height=\"833\"></p><p><b>Gold</b></p><p>International gold fell slightly, falling 0.72% on the day to $1,767.8 per ounce.</p><p>International gold prices continued to fluctuate sideways within a narrow range for more than a week, and investors' concerns that the Federal Reserve would tighten monetary policy earlier than expected weakened the attractiveness of gold. Technically, the price of gold is still bearish, with the lower support looking at $1,748. However, the US Dollar Index has hovered below the 92 integer mark in the past week, limiting the downside of gold.</p><p><img src=\"https://static.tigerbbs.com/7e5ed09a2cb81ab881444e6e45deed9d\" tg-width=\"822\" tg-height=\"833\"></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>Market Summary: The throne of \"First Brother\" in Shenzhen Stock Exchange changes hands! Haidilao \"boils\" against the trend</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\">\nMarket Summary: The throne of \"First Brother\" in Shenzhen Stock Exchange changes hands! Haidilao \"boils\" against the trend\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-29 16:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Hong Kong Stocks</b></p><p>The three major Hong Kong stock indexes showed a unilateral decline throughout the day, and the overall market sentiment was dull. As of the close, the Hang Seng Index fell 0.94% to 28,994 points, the State Index fell 0.98% to 10,757 points, and the Hang Seng Technology Index fell 0.91% to 8201 points.</p><p><img src=\"https://static.tigerbbs.com/c7f0b8ac73315eee841216419d34c674\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>On the disk, the oil sector was among the top losers, and all three barrels of oil fell sharply, dragging the market down; Recently, strong biomedical stocks and port shipping stocks have pulled back across the board, financial stocks (insurance, securities firms, banks) have performed sluggishly, and energy stocks such as home appliance stocks, aviation stocks, medical beauty stocks, gas stocks, defense stocks, gambling stocks, and coal generally fell; Big tech stocks were mixed,<a href=\"https://laohu8.com/S/09999\">NetEase-S</a>Bucking the trend, it rose 3.6%,<a href=\"https://laohu8.com/S/09618\">Jingdong Group-SW</a>、<a href=\"https://laohu8.com/S/09888\">Baidu Group-SW</a>Closed up,<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/09988\">Alibaba-SW</a>、<a href=\"https://laohu8.com/S/03690\">Meituan-W</a>All fell; Catering stocks rebounded sharply,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Rose nearly 9%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Up 4.5%; Photovoltaic stocks are strong, property management stocks continue to rise,<a href=\"https://laohu8.com/S/00873\">Shimao Services</a>Waiting for many stocks to continue to hit new high prices. The market turnover was 146.1 billion Hong Kong dollars, and the net inflow of southbound funds bucked the trend and was 963 million Hong Kong dollars.</p><p><b>A Shares</b></p><p>The three major indexes pulled back. The Shanghai Composite Index consolidated weakly above the 30-day line, closing down 0.92% to 3,573 points throughout the day, the Shenzhen Component Index fell 0.99% to 14,999 points, and the ChiNext Index fell 0.19% to 3,406 points. More than 3,100 stocks in the two cities fell, and the market sentiment and profit-making effect dropped significantly. The turnover returned to below the trillion once again after seven trading days, reaching 997.4 billion, and the net sales of northbound funds throughout the day were 3.14 billion.</p><p><img src=\"https://static.tigerbbs.com/55bf301fcd48fb59b0f70e721046a291\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The performance of theme concepts is sluggish, and concept stocks such as military industry, finance, liquor, chips, and 5G generally fall; Most funds flow to photovoltaic concepts,<a href=\"https://laohu8.com/S/300118\">Sunrise Oriental</a>Wait for the daily limit of ten stocks,<a href=\"https://laohu8.com/S/601012\">LONGi shares</a>Rose more than 3%; The concept of silicone is strong throughout the day,<a href=\"https://laohu8.com/S/603260\">Hesheng Silicon Industry</a>The daily limit hit a new high; Concepts such as HIT batteries, lithium extraction from salt lakes, babies and children, and online travel were active, and most textile and apparel stocks rose.</p><p><a href=\"https://laohu8.com/S/300750\">Ningde era</a>The stock price hit a record high again. As of the close, it rose nearly 3%. The latest market value was 1,184.3 billion yuan, surpassing<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>Become the \"first brother\" of Shenzhen Stock Exchange.</p><p><img src=\"https://static.tigerbbs.com/93d3ce21ca8d59215a3c2e1be2a9f337\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>US stocks</b></p><p>The three major U.S. stock index futures were mixed. As of press time, Dow futures rose 0.17%; Nasdaq 100 futures fell 0.24%; S&P 500 futures fell 0.02%.</p><p><img src=\"https://static.tigerbbs.com/83895d64ec668d72dcb5edf73dbeff5d\" tg-width=\"478\" tg-height=\"182\" referrerpolicy=\"no-referrer\"></p><p>Morgan Stanley rose more than 2% before the market. Morgan Stanley doubled its quarterly Dividend to 70 cents and will repurchase up to $12 billion in shares.</p><p><img src=\"https://static.tigerbbs.com/72c436e1b865ee4e1d224f056bfd31ee\" tg-width=\"1302\" tg-height=\"833\"></p><p><b>European stocks</b></p><p>Major European indexes rose across the board. As of press time, the German DAX index rose 0.57%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.33%, the French CAC40 index rose 0.35%, and the European Stoxx 50 index rose 0.37%.</p><p><img src=\"https://static.tigerbbs.com/2b257919c3a4379a1b3848f144a0a925\" tg-width=\"820\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><b>crude oil</b></p><p>International oil prices fell slightly. As of press time, WTI crude oil was at US $72.79/barrel, down 0.16%; Brent oil is now trading at $74.55 a barrel, down 0.17%.</p><p>International oil prices have been dragged down by concerns about slowing fuel demand growth, as a new outbreak of the highly contagious new coronavirus variant Delta has triggered new movement restrictions around the world. However, U.S. shale oil producers still stick to the commitment pointed out to suspend the expansion, which is different from what they did during previous waves of boom cycles and is good for the oil market.</p><p><img src=\"https://static.tigerbbs.com/2317c0df6a343fd5277e3356ad5ee5b4\" tg-width=\"822\" tg-height=\"833\"><img src=\"https://static.tigerbbs.com/e4c741ddb202c84a0df34706caf5f957\" tg-width=\"822\" tg-height=\"833\"></p><p><b>Gold</b></p><p>International gold fell slightly, falling 0.72% on the day to $1,767.8 per ounce.</p><p>International gold prices continued to fluctuate sideways within a narrow range for more than a week, and investors' concerns that the Federal Reserve would tighten monetary policy earlier than expected weakened the attractiveness of gold. Technically, the price of gold is still bearish, with the lower support looking at $1,748. However, the US Dollar Index has hovered below the 92 integer mark in the past week, limiting the downside of gold.</p><p><img src=\"https://static.tigerbbs.com/7e5ed09a2cb81ab881444e6e45deed9d\" tg-width=\"822\" tg-height=\"833\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"300750":"宁德时代","399001":"深证成指","399006":"创业板指","HSTECH":"恒生科技指数","06862":"海底捞",".SPX":"S&P 500 Index","HSCEI":"国企指数","000001.SH":"上证指数",".DJI":"道琼斯","HSI":"恒生指数","HSCCI":"红筹指数",".IXIC":"NASDAQ Composite"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118894802","content_text":"港股\n港股三大指数全日呈单边下跌行情，市场整体情绪表现平淡。截至收盘，恒指跌0.94%报28994点，国指跌0.98%报10757点，恒生科技指数跌0.91%报8201点。\n\n盘面上，石油板块跌幅居前，三桶油皆重挫拖累大市走低；近期强势的生物医药股、港口航运股全线回调，金融股(保险、券商、银行)表现低迷，家电股、航空股、医美股、燃气股、军工股、濠赌股、煤炭等能源股普遍下跌；大型科技股涨跌不一，网易-S逆势大涨3.6%，京东集团-SW、百度集团-SW收涨，腾讯、阿里巴巴-SW、美团-W均下跌；餐饮股大幅反弹，海底捞大涨近9%，呷哺呷哺涨4.5%；光伏股强势，物管股继续上扬，世茂服务等多股续创新高价。大市成交额为1461亿港元，南下资金逆势净流入9.63亿港元。\nA股\n三大指数回调，沪指在30日线上方弱势整理，全天收跌0.92%报3573点，深成指跌0.99%报14999点，创业板指跌0.19%报3406点。两市3100余股下跌，市场情绪及赚钱效应明显回落，成交额时隔七个交易日再次回至万亿下方，为9974亿，北上资金全天净卖出31.4亿。\n\n题材概念表现低迷，军工、金融、白酒、芯片、5G等概念股普遍下跌；资金多数流向光伏概念，东方日升等十股涨停，隆基股份涨逾3%；有机硅概念全天强势，合盛硅业涨停创新高；HIT电池、盐湖提锂、婴童、在线旅游等概念活跃，纺织服饰股多数上涨。\n宁德时代股价再创历史新高，截至收盘，涨近3%，最新市值11843亿元，超越五粮液成为深市“一哥”。\n\n美股\n美国三大股指期货涨跌不一，截至发稿，道指期货涨0.17%；纳斯达克100指数期货跌0.24%；标普500指数期货跌0.02%。\n\n摩根士丹利盘前涨超2%，摩根士丹利将季度股息翻倍至70美分，将回购最高120亿美元股票。\n\n欧股\n欧洲主要指数全线上涨，截止发稿，德国DAX指数涨0.57%，英国富时100指数涨0.33%，法国CAC40指数涨0.35%，欧洲斯托克50指数涨0.37%。\n\n原油\n国际油价小幅下跌，截止发稿，WTI原油报72.79美元/桶，跌0.16%；布油现报74.55美元/桶，跌0.17%。\n国际油价受到对燃料需求增长放缓的担忧拖累，因为高传染性新冠变种病毒Delta的新疫情在全球引发了新的行动限制。不过美国页岩油生产商仍坚守暂停扩大指出的承诺，有异于先前几波景气循环荣景时的做法，对油市构成利好。\n\n黄金\n国际黄金小幅走低，日内跌0.72%，报1767.8美元/盎司。\n国际金价延续逾一周的横盘窄幅震荡态势，投资者对美联储将比预期更早收紧货币政策的担忧削弱了黄金的吸引力。技术上看金价仍看跌，下方支撑看向1748美元。但美元指数过去一周徘徊在92整数关口下方，限制了黄金下行空间。","news_type":1,"symbols_score_info":{"300750":0.9,"399001":0.9,"399006":0.9,".IXIC":0.9,"HSTECH":0.9,".SPX":0.9,"HSI":0.9,".DJI":0.9,"HSCCI":0.9,"06862":0.9,"000001.SH":0.9,"HSCEI":0.9}},"isVote":1,"tweetType":1,"viewCount":1988,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274834,"gmtCreate":1624972910628,"gmtModify":1703849125887,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"&nbsp;?","listText":"&nbsp;?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274834","repostId":"1188452851","repostType":4,"repost":{"id":"1188452851","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624960188,"share":"https://ttm.financial/m/news/1188452851?lang=en_US&edition=fundamental","pubTime":"2021-06-29 17:49","market":"sh","language":"zh","title":"61 daily limit, what kind of \"demon wind\" is the most bullish ST stock blowing?","url":"https://stock-news.laohu8.com/highlight/detail?id=1188452851","media":"华尔街见闻","summary":"如果问今年最妖的股是哪只，那一定非*ST众泰莫属。\n今年以来，*ST众泰在100多个交易日狂拉61个涨停，成为A股涨停王，股价也从年初的1.34元飙升至目前的7.5元，足足涨了460%，股价翻了5倍！","content":"<p>If you ask which stock is the most demonic this year, it must be<a href=\"https://laohu8.com/S/000980\">* ST Zotye</a>It's none other than.</p><p>Since the beginning of this year, * ST Zotye has pulled 61 daily limits in more than 100 trading days, becoming<b>A share daily limit king</b>, the stock price has also soared from 1.34 yuan at the beginning of the year to the current 7.5 yuan, a full increase of 460%, and the stock price has increased five times!</p><p>If calculated based on the highest increase, * ST Zotye's<b>The cumulative increase is as high as 628%, more than 6 times!</b></p><p><img src=\"https://static.tigerbbs.com/83019cb4d2e69da5e15ccb2c837e3f24\" tg-width=\"840\" tg-height=\"470\"></p><p>During this period, the company issued many announcements of stock price changes and suggestive announcements that the stock may be subject to delisting risk warnings. After three suspension verifications, it failed to prevent the stock price from \"riding the dust\".</p><p>According to<a href=\"https://laohu8.com/S/300033\">Straight flush</a>According to statistics, since January 11th as of June 24th, * ST Zotye has been on the dragon and tiger list of the exchange as many as 23 times, attracting a lot of hot money to participate in the speculation.</p><p>According to data from the Choice Dragon and Tiger List, as of June 24, * ST Zotye's top five sales departments with the largest purchase amount for three consecutive trading days are all known as \"retail investor base camps\"<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>Securities Lhasa Sales Department.</p><p><img src=\"https://static.tigerbbs.com/46071fe71f43e7f8af7638a92f29ea34\" tg-width=\"1080\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p>It is worth noting that<b>Due to continuous losses, * ST Zotye is at risk of being terminated from listing. After the tens of billions of losses that shocked the auto industry in 2019</b>, * ST Zotye 2020<b>Loss 10.801 billion yuan again</b>, as of the end of 2020, the company's net assets were-4.423 billion yuan. According to regulations, the company's audited net assets in 2020 are negative, and the company's stocks continue to be subject to a \"delisting risk warning\".</p><p><b>01. Reorganization expectations cause * ST Zotye to skyrocket</b></p><p>Throughout the hype history of * ST Zotye, it has always been inseparable from the \"restructuring expectation\".</p><p>On the evening of January 11 this year, * ST Zotye issued the \"Announcement on the Progress of Public Recruitment of Investors\", stating that on December 25 and December 28, 2020, the pre-reorganization manager signed the \"Confidentiality Agreement\" with an intended investor respectively, and signed the \"Confidentiality Agreement\" and the \"Intent Agreement\" with another intended investor.</p><p><b>Since then</b>，<b>* ST Zotye's share price began to \"rise endlessly\".</b></p><p>The two intended investors have paid the corresponding confidentiality deposit and intention deposit, and started to carry out specific due diligence after paying the deposit. As the saying goes, \"stock speculation is about expectations\", and the expectation of \"someone taking over and reorganizing\" has become the core driving force for * ST Zotye's continuous rise in the future.<img src=\"https://static.tigerbbs.com/d01c30a1357f4ca66327ea763408b69c\" tg-width=\"613\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>In this regard,<b>The market once rumored that investors might<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Millet,<a href=\"https://laohu8.com/S/NIO\">Nio</a>One of them and Baoneng, among which Baoneng was once \"hammered\" by official news.</b></p><p>But later, * ST Zotye emphasized that Tesla, Xiaomi, Nio and Baoneng are not investors in the company's pre-restructuring.</p><p>According to media understanding, official website, Shandong Linyi Municipal Bureau of Commerce, once announced that the cooperation project between Baoneng Automobile Group Co., Ltd., a subsidiary of Baoneng Group, and Linyi Zotye has entered the substantive negotiation stage.</p><p>However, Baoneng Automobile denied the above statement to many media, and then Linyi Municipal Bureau of Commerce also revoked the release.</p><p><b>02. Zhibo Investment terminated its investment company, and the first and second largest tradable shareholders both \"ran away\"</b></p><p>After pulling 61 daily limits wildly,<b>A major negative news is like a bolt from the blue, which may become the straw that crushed * ST Zotye's connected board.</b></p><p>On the evening of June 25, Zotye Automobile announced that according to the relevant agreement of the Confidentiality Agreement signed by the intended investor Zhibo Investment and the company in December 2020, Zhibo Investment decided to terminate its investment in the company.</p><p><img src=\"https://static.tigerbbs.com/5d029f53c2c47afc85afae9ea489f8f0\" tg-width=\"682\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the announcement also suggested that the company's stock may face the risk of termination of listing. If the company successfully implements the reorganization and completes the reorganization plan, it will help optimize the company's asset-liability structure and enhance the company's continuous operation and profitability. If the reorganization fails, the company will be declared bankrupt.</p><p>On Monday, June 28, * ST Zotye opened with a daily limit, with more than 480,000 orders closed, and the amount of orders closed exceeded 350 million yuan.</p><p><b>Some analysts have sorted out the dynamic timeline of * ST Zotye's intended investors. In fact, things can be traced back to December last year.</b></p><p>On December 25, 2020, * ST Zotye disclosed for the first time that Shanghai Zhiyang signed the Confidentiality Agreement and the Intention Agreement with the pre-reorganization manager, and paid the corresponding confidentiality deposit and intention deposit. On December 28, 2020, Hunan Zhibo signed a \"Confidentiality Agreement\" with the pre-reorganization manager and paid the corresponding confidentiality deposit.</p><p><img src=\"https://static.tigerbbs.com/f3948a0dfa5378ccb2f70cea501d90ce\" tg-width=\"656\" tg-height=\"276\" referrerpolicy=\"no-referrer\"></p><p><b>According to the announcement of * ST Zotye on April 7, the company currently has two intended investors</b>One is Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as \"Shanghai Zhiyang\"), and the other is Hunan Zhibo Equity Investment Fund Management Co., Ltd. (hereinafter referred to as \"Hunan Zhibo\"). According to Qichacha, both companies are private equity fund managers with registered capital of 50 million yuan and 10 million yuan respectively, and neither of them has any relevant background in the automobile industry chain.</p><p><b>However, in May, things took another turn</b>。 On the evening of May 12, * ST Zotye, which has entered the pre-restructuring stage, announced that the company received a letter from Shanghai Zhiyang Investment Co., Ltd. transferred by the company's pre-restructuring manager on May 12, 2021: \"Based on the company's evaluation of the due diligence results of Zotye Automobile Co., Ltd. (hereinafter referred to as Zotye Automobile) and the recent changes in Zotye Automobile's stock price, which seriously deviated from its fundamentals, the company decided to suspend the investment in Zotye Automobile due to investment prudence.\"</p><p><b>Now, Zhibo Investment has chosen to terminate its investment in Zotye Automobile, and Shanghai Zhiyang, another potential investor, has also announced the suspension of investment. There is great uncertainty about whether it will finally decide to restructure Zotye Automobile</b>。</p><p>It never rains poorly. In addition to institutions terminating their investments,<b>Even * ST Zotye's \"own family\" has played a big reduction</b>。</p><p>On May 24th and May 27th, * ST Zotye issued two pre-disclosure announcements respectively about shareholders holding more than 5% of the shares reducing their shares in the company. First of all, the shareholder Great Wall (Deyang) Changfu Investment Fund Partnership, which holds 7.03% of the shares, plans to reduce the company's shares through centralized bidding or block trading, and the total ratio of the company's total share capital will not exceed 2.03%; Secondly, Wuhan Tianfeng Zhixin Investment Center (Limited Partnership), a shareholder holding 5.84% of the shares, plans to use centralized bidding or block transactions<b>\"Clearance\" reduction</b>。</p><p>Wind data shows that the company's first quarterly report shows that Great Wall Changfu and Tianfeng Zhixin are the company's first and second largest tradable shareholders respectively.</p><p>Daily Economic News believes that,<b>The two major shareholders suddenly made such a move when the stock price was at a high level. In addition to obtaining profits, the loss of confidence in the future of * ST Zotye can also be clearly felt</b>。</p><p>Next, will * ST Zotye, which is \"all four empty\" and \"jittery\", fall to the limit several times in a row, or will it continue to be hyped by funds to hit a new high?</p><p><b>03. The core value lies in the license plate, but the \"copycat Porsche\" cannot be tolerated</b></p><p>For * ST Zotye's connected board,<b>The entry of new car-making forces may be one of the catalysts</b>。</p><p>Recently, giants such as Xiaomi, Huawei, and Didi have successively launched car-making plans, and the qualification for new forces to build cars is a car-making qualification.<b>But so far, the National Development and Reform Commission has stopped issuing new energy vehicle production qualifications</b>。</p><p><b>Zotye has the production qualifications for new energy passenger vehicles and commercial vehicles</b>。 According to the data, Zotye is one of the earliest domestic car companies to enter the new energy vehicle industry. It is also the first domestic invention patent in the field of pure electric vehicles and the first enterprise to obtain the production and sales license of pure electric passenger vehicles.</p><p>Despite this,<b>But Zotye's rapid expansion by imitating luxury cars is surprising</b>。 In 2016, the company launched the Zotye SR9, which looks like a Porsche Macan, and is called the \"Porsche\". In addition, due to frequent quality problems, Zotye's sales have declined rapidly in recent years.</p><p><img src=\"https://static.tigerbbs.com/aeb2f12b758335d213c513448b74d590\" tg-width=\"503\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>Such a cottage painting style, coupled with worrying quality problems, what if there is a license plate? In the end, it is still difficult to convince investors and partners.</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>61 daily limit, what kind of \"demon wind\" is the most bullish ST stock blowing?</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\">\n61 daily limit, what kind of \"demon wind\" is the most bullish ST stock blowing?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-29 17:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>If you ask which stock is the most demonic this year, it must be<a href=\"https://laohu8.com/S/000980\">* ST Zotye</a>It's none other than.</p><p>Since the beginning of this year, * ST Zotye has pulled 61 daily limits in more than 100 trading days, becoming<b>A share daily limit king</b>, the stock price has also soared from 1.34 yuan at the beginning of the year to the current 7.5 yuan, a full increase of 460%, and the stock price has increased five times!</p><p>If calculated based on the highest increase, * ST Zotye's<b>The cumulative increase is as high as 628%, more than 6 times!</b></p><p><img src=\"https://static.tigerbbs.com/83019cb4d2e69da5e15ccb2c837e3f24\" tg-width=\"840\" tg-height=\"470\"></p><p>During this period, the company issued many announcements of stock price changes and suggestive announcements that the stock may be subject to delisting risk warnings. After three suspension verifications, it failed to prevent the stock price from \"riding the dust\".</p><p>According to<a href=\"https://laohu8.com/S/300033\">Straight flush</a>According to statistics, since January 11th as of June 24th, * ST Zotye has been on the dragon and tiger list of the exchange as many as 23 times, attracting a lot of hot money to participate in the speculation.</p><p>According to data from the Choice Dragon and Tiger List, as of June 24, * ST Zotye's top five sales departments with the largest purchase amount for three consecutive trading days are all known as \"retail investor base camps\"<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>Securities Lhasa Sales Department.</p><p><img src=\"https://static.tigerbbs.com/46071fe71f43e7f8af7638a92f29ea34\" tg-width=\"1080\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p>It is worth noting that<b>Due to continuous losses, * ST Zotye is at risk of being terminated from listing. After the tens of billions of losses that shocked the auto industry in 2019</b>, * ST Zotye 2020<b>Loss 10.801 billion yuan again</b>, as of the end of 2020, the company's net assets were-4.423 billion yuan. According to regulations, the company's audited net assets in 2020 are negative, and the company's stocks continue to be subject to a \"delisting risk warning\".</p><p><b>01. Reorganization expectations cause * ST Zotye to skyrocket</b></p><p>Throughout the hype history of * ST Zotye, it has always been inseparable from the \"restructuring expectation\".</p><p>On the evening of January 11 this year, * ST Zotye issued the \"Announcement on the Progress of Public Recruitment of Investors\", stating that on December 25 and December 28, 2020, the pre-reorganization manager signed the \"Confidentiality Agreement\" with an intended investor respectively, and signed the \"Confidentiality Agreement\" and the \"Intent Agreement\" with another intended investor.</p><p><b>Since then</b>，<b>* ST Zotye's share price began to \"rise endlessly\".</b></p><p>The two intended investors have paid the corresponding confidentiality deposit and intention deposit, and started to carry out specific due diligence after paying the deposit. As the saying goes, \"stock speculation is about expectations\", and the expectation of \"someone taking over and reorganizing\" has become the core driving force for * ST Zotye's continuous rise in the future.<img src=\"https://static.tigerbbs.com/d01c30a1357f4ca66327ea763408b69c\" tg-width=\"613\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>In this regard,<b>The market once rumored that investors might<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Millet,<a href=\"https://laohu8.com/S/NIO\">Nio</a>One of them and Baoneng, among which Baoneng was once \"hammered\" by official news.</b></p><p>But later, * ST Zotye emphasized that Tesla, Xiaomi, Nio and Baoneng are not investors in the company's pre-restructuring.</p><p>According to media understanding, official website, Shandong Linyi Municipal Bureau of Commerce, once announced that the cooperation project between Baoneng Automobile Group Co., Ltd., a subsidiary of Baoneng Group, and Linyi Zotye has entered the substantive negotiation stage.</p><p>However, Baoneng Automobile denied the above statement to many media, and then Linyi Municipal Bureau of Commerce also revoked the release.</p><p><b>02. Zhibo Investment terminated its investment company, and the first and second largest tradable shareholders both \"ran away\"</b></p><p>After pulling 61 daily limits wildly,<b>A major negative news is like a bolt from the blue, which may become the straw that crushed * ST Zotye's connected board.</b></p><p>On the evening of June 25, Zotye Automobile announced that according to the relevant agreement of the Confidentiality Agreement signed by the intended investor Zhibo Investment and the company in December 2020, Zhibo Investment decided to terminate its investment in the company.</p><p><img src=\"https://static.tigerbbs.com/5d029f53c2c47afc85afae9ea489f8f0\" tg-width=\"682\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the announcement also suggested that the company's stock may face the risk of termination of listing. If the company successfully implements the reorganization and completes the reorganization plan, it will help optimize the company's asset-liability structure and enhance the company's continuous operation and profitability. If the reorganization fails, the company will be declared bankrupt.</p><p>On Monday, June 28, * ST Zotye opened with a daily limit, with more than 480,000 orders closed, and the amount of orders closed exceeded 350 million yuan.</p><p><b>Some analysts have sorted out the dynamic timeline of * ST Zotye's intended investors. In fact, things can be traced back to December last year.</b></p><p>On December 25, 2020, * ST Zotye disclosed for the first time that Shanghai Zhiyang signed the Confidentiality Agreement and the Intention Agreement with the pre-reorganization manager, and paid the corresponding confidentiality deposit and intention deposit. On December 28, 2020, Hunan Zhibo signed a \"Confidentiality Agreement\" with the pre-reorganization manager and paid the corresponding confidentiality deposit.</p><p><img src=\"https://static.tigerbbs.com/f3948a0dfa5378ccb2f70cea501d90ce\" tg-width=\"656\" tg-height=\"276\" referrerpolicy=\"no-referrer\"></p><p><b>According to the announcement of * ST Zotye on April 7, the company currently has two intended investors</b>One is Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as \"Shanghai Zhiyang\"), and the other is Hunan Zhibo Equity Investment Fund Management Co., Ltd. (hereinafter referred to as \"Hunan Zhibo\"). According to Qichacha, both companies are private equity fund managers with registered capital of 50 million yuan and 10 million yuan respectively, and neither of them has any relevant background in the automobile industry chain.</p><p><b>However, in May, things took another turn</b>。 On the evening of May 12, * ST Zotye, which has entered the pre-restructuring stage, announced that the company received a letter from Shanghai Zhiyang Investment Co., Ltd. transferred by the company's pre-restructuring manager on May 12, 2021: \"Based on the company's evaluation of the due diligence results of Zotye Automobile Co., Ltd. (hereinafter referred to as Zotye Automobile) and the recent changes in Zotye Automobile's stock price, which seriously deviated from its fundamentals, the company decided to suspend the investment in Zotye Automobile due to investment prudence.\"</p><p><b>Now, Zhibo Investment has chosen to terminate its investment in Zotye Automobile, and Shanghai Zhiyang, another potential investor, has also announced the suspension of investment. There is great uncertainty about whether it will finally decide to restructure Zotye Automobile</b>。</p><p>It never rains poorly. In addition to institutions terminating their investments,<b>Even * ST Zotye's \"own family\" has played a big reduction</b>。</p><p>On May 24th and May 27th, * ST Zotye issued two pre-disclosure announcements respectively about shareholders holding more than 5% of the shares reducing their shares in the company. First of all, the shareholder Great Wall (Deyang) Changfu Investment Fund Partnership, which holds 7.03% of the shares, plans to reduce the company's shares through centralized bidding or block trading, and the total ratio of the company's total share capital will not exceed 2.03%; Secondly, Wuhan Tianfeng Zhixin Investment Center (Limited Partnership), a shareholder holding 5.84% of the shares, plans to use centralized bidding or block transactions<b>\"Clearance\" reduction</b>。</p><p>Wind data shows that the company's first quarterly report shows that Great Wall Changfu and Tianfeng Zhixin are the company's first and second largest tradable shareholders respectively.</p><p>Daily Economic News believes that,<b>The two major shareholders suddenly made such a move when the stock price was at a high level. In addition to obtaining profits, the loss of confidence in the future of * ST Zotye can also be clearly felt</b>。</p><p>Next, will * ST Zotye, which is \"all four empty\" and \"jittery\", fall to the limit several times in a row, or will it continue to be hyped by funds to hit a new high?</p><p><b>03. The core value lies in the license plate, but the \"copycat Porsche\" cannot be tolerated</b></p><p>For * ST Zotye's connected board,<b>The entry of new car-making forces may be one of the catalysts</b>。</p><p>Recently, giants such as Xiaomi, Huawei, and Didi have successively launched car-making plans, and the qualification for new forces to build cars is a car-making qualification.<b>But so far, the National Development and Reform Commission has stopped issuing new energy vehicle production qualifications</b>。</p><p><b>Zotye has the production qualifications for new energy passenger vehicles and commercial vehicles</b>。 According to the data, Zotye is one of the earliest domestic car companies to enter the new energy vehicle industry. It is also the first domestic invention patent in the field of pure electric vehicles and the first enterprise to obtain the production and sales license of pure electric passenger vehicles.</p><p>Despite this,<b>But Zotye's rapid expansion by imitating luxury cars is surprising</b>。 In 2016, the company launched the Zotye SR9, which looks like a Porsche Macan, and is called the \"Porsche\". In addition, due to frequent quality problems, Zotye's sales have declined rapidly in recent years.</p><p><img src=\"https://static.tigerbbs.com/aeb2f12b758335d213c513448b74d590\" tg-width=\"503\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>Such a cottage painting style, coupled with worrying quality problems, what if there is a license plate? In the end, it is still difficult to convince investors and partners.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b8ea9e4b472cd3f7c83196f81fbd8882","relate_stocks":{"000980":"众泰汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188452851","content_text":"如果问今年最妖的股是哪只，那一定非*ST众泰莫属。\n今年以来，*ST众泰在100多个交易日狂拉61个涨停，成为A股涨停王，股价也从年初的1.34元飙升至目前的7.5元，足足涨了460%，股价翻了5倍！\n如果按照最高涨幅计算，*ST众泰年内的累计涨幅更是高达628%，超过6倍！\n\n期间公司多次发布股价异动公告及股票可能被实施退市风险警示的提示性公告，并历经3次停牌核查，也未能阻止股价“一骑绝尘”。\n据同花顺统计，自1月11日以来截至6月24日，*ST众泰登上交易所龙虎榜的次数高达23次，吸引了诸多游资参与炒作。\nChoice龙虎榜数据显示，截至6月24日，*ST众泰连续三个交易日内，买入金额最大的前5名营业部均为被称为“散户大本营”的东方财富证券拉萨营业部。\n\n值得注意的是，由于连续亏损，*ST众泰存在被终止上市的风险。在继2019年出现震惊汽车行业的百亿亏损后，*ST众泰2020年再度亏损108.01亿元，截至2020年末，公司净资产为-44.23亿元。根据规定，公司2020年度经审计后的净资产为负值，公司股票继续被实施“退市风险警示”处理。\n01、重组预期致*ST众泰暴涨\n纵观*ST众泰的炒作历史，则一向与“重组预期”脱不开干系。\n今年1月11日晚间，*ST众泰发布《关于公开招募投资人的进展公告》称，2020年12月25日、12月28日，预重整管理人分别与一家意向投资人签署了《保密协议》，与另一家意向投资人签署了《保密协议》和《意向协议书》。\n自此以后，*ST众泰的股价便开始“涨涨不休”。\n两家意向投资人已缴纳相应的保密保证金和意向保证金，并着手在缴纳保证金后开展具体的尽职调查工作。正所谓“炒股炒的是预期”，“有人接盘重整”的预期成为之后*ST众泰不断上涨的核心驱动力。\n对此，市场一度传言投资方可能为特斯拉、小米、蔚来和宝能的其中之一，其中宝能还一度被官方消息“实锤”。\n但后来，*ST众泰又强调称，特斯拉、小米、蔚来和宝能均不是公司预重整投资人。\n据媒体了解，山东临沂市商务局官网曾发布消息称，宝能集团旗下宝能汽车集团有限公司与临沂众泰合作项目已进入实质性洽谈阶段。\n不过，宝能汽车对多家媒体否认了上述说法，随后，临沂市商务局也撤销了该发布内容。\n02、致博投资终止投资公司，第一、二大流通股东双双“跑路”\n在狂拉61个涨停后，一则重大利空晴天霹雳一般，或许成为压垮*ST众泰连板的稻草。\n6月25日晚间，众泰汽车发布公告称，根据意向投资人致博投资与公司2020年12月签署的《保密协议书》的相关约定，致博投资决定终止投资本公司。\n\n同时，公告还提示，公司股票可能面临终止上市的风险。如果公司顺利实施重整并执行完毕重整计划，将有利于优化公司资产负债结构，提升公司的持续经营及盈利能力。若重整失败，公司将存在被宣告破产的风险。\n6月28日周一，*ST众泰开盘一字跌停，封单超过48万手，封单金额超过3.5亿元。\n有分析人士梳理了*ST众泰意向投资者的动态时间线，其实事情可以追溯到去年12月。\n在2020年12月25日，*ST众泰首次披露，上海智阳与预重整管理人签署了《保密协议》和《意向协议书》，并缴纳了相应的保密保证金和意向保证金。2020年12月28日，湖南致博与预重整管理人签署了《保密协议》，并缴纳了相应的保密保证金。\n\n根据4月7日*ST众泰的公告，目前公司意向投资人有两家，一家是上海智阳投资有限公司(下称“上海智阳”)，另一家是湖南致博股权投资基金管理有限公司(下称“湖南致博”)。企查查显示，这两家公司均为私募基金管理人，注册资本分别为5000万元和1000万元，且均无汽车产业链相关背景。\n然而时间到了5月，事情又发生了转折。5月12日晚间，已进入预重整阶段的*ST众泰发布公告称，公司于2021年5月12日收到公司预重整管理人转交的上海智阳投资有限公司向其发出的函：“基于本公司对众泰汽车股份有限公司(下称众泰汽车)尽职调查结果的评估，以及近期众泰汽车股价异动、严重偏离其基本面，出于投资谨慎性考虑，本公司决定暂缓推进对众泰汽车的投资事宜。”\n如今，致博投资选择终止推进对众泰汽车的投资事宜，而目前另一家意向投资人上海智阳亦宣布暂缓投资，是否最终决定重组众泰汽车存在很大不确定性。\n祸不单行的是，除了有机构终止投资，就连*ST众泰的“自家人”也玩起了大减持。\n5月24日和5月27日，*ST众泰分别发布了两则关于持股5%以上股东减持公司股份的预披露公告。首先，持股7.03%的股东长城（德阳）长富投资基金合伙企业计划以集中竞价方式或大宗交易方式减持公司股份合计不超过公司总股本比例 2.03%；其次，持股5.84%的股东武汉天风智信投资中心（有限合伙）计划以集中竞价方式或大宗交易方式“清仓式”减持。\nWind数据显示，公司一季报显示，长城长富和天风智信分别为公司第一、第二大流通股东。\n每日经济新闻认为，两位大股东在股价处于高位时突然来这么一招，除了获取收益之外，对*ST众泰的未来失去信心也是可以明确感觉到的。\n接下来，“四大皆空”“风声鹤唳”的*ST众泰将会连续数跌停板，还是继续被资金炒作再创新高呢？\n03、核心价值在牌照，但“山寨保时捷”不能忍\n对于*ST众泰的连板，造车新势力的入局或许是催化之一。\n近日，小米、华为、滴滴等巨头先后启动造车计划，而新势力造车的参赛资格就是一张造车资质，但截至目前发改委已停发新能源车生产资质。\n而众泰拥有新能源乘用车和商用车的生产资质。资料显示，众泰是国内最早进入新能源汽车行业的车企之一，也上国内第一个纯电动整车领域的发明专利、第一个获得了纯电动乘用车生产销售许可证的企业。\n尽管如此，但众泰采用模仿豪车的方式迅速扩张，让人大跌眼镜。2016年，公司推出了外形酷似保时捷Macan的众泰SR9，被称为“保时泰”。此外由于质量问题频发，近年来众泰汽车销量迅速下滑。\n\n这样的山寨画风，加之以令人担忧的质量问题，即使有一张牌照又如何？最终还是难以让投资方和合作方信服。","news_type":1,"symbols_score_info":{"000980":0.9}},"isVote":1,"tweetType":1,"viewCount":2152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274965,"gmtCreate":1624972892257,"gmtModify":1703849125725,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274965","repostId":"1139578847","repostType":4,"repost":{"id":"1139578847","kind":"news","pubTimestamp":1624961586,"share":"https://ttm.financial/m/news/1139578847?lang=en_US&edition=fundamental","pubTime":"2021-06-29 18:13","market":"us","language":"zh","title":"Blue City Brothers' \"Same Sex\" Business Experience","url":"https://stock-news.laohu8.com/highlight/detail?id=1139578847","media":"BT财经","summary":"蓝城兄弟作为亚洲LGBTQ群体的隐秘聚集地，在流量到顶后能否走通流量变现的闭环？\n\n6月中旬，号称“粉红第一股”的蓝城兄弟（Blued）公布了一季度财报，这家专注于LGBTQ垂直社交的企业交上了一份看","content":"<p><a href=\"https://laohu8.com/S/BLCT\">Blue City Brothers</a>As a secret gathering place for the LGBTQ community in Asia, can it go through the closed loop of traffic monetization after the traffic reaches its peak? In mid-June, Blued, known as the \"No. 1 stock in *\", announced its first-quarter financial report. This company focusing on LGBTQ vertical social networking handed in a looking good performance answer sheet.</p><p>The financial report shows that in terms of the number of users, the overall MAU (monthly active users) of Blue City Brothers reached 8.3 million, a year-on-year increase of 37.5%, and the number of paid members also reached a record high of 640,000, a year-on-year increase of 47.8%.</p><p>According to Blue City Brothers, its software has the largest market share in the LGBTQ social field in China and other parts of Asia (including India, South Korea, Thailand and Vietnam). In 2021, it will also make efforts in Latin America to continue to explore the international market. The number of users can continue to increase in the future.</p><p>However, from the perspective of business data, in the first quarter of 2021, Blue City Brothers achieved operating income of 271.1 million yuan, a year-on-year increase of 31%, and a loss of 52.1 million yuan. In the same period of 2020, it was a loss of 7.6 million yuan, and the loss expanded by 585% year-on-year.</p><p><b>The year-on-year growth rate of operating income looks good, but the loss has expanded instead. What happened to the Blue City brothers who increased revenue but did not increase profits?</b></p><p><b>Users reach the top, and increment depends on buying</b></p><p>Blue City Brothers, the first stock in * 's economy, still can only rely on the live broadcast business to support the sky, and the vigorously cultivated health business is still in its infancy.</p><p>Previously affected by the celebrity surrogacy incident, the \"gay\" family surrogacy business, an important part of Blue City Brothers' business closed loop, was also forced to close, and publicly announced the termination of the business in the first quarter report of 2021.</p><p>Blue City's business development does not seem to be affected by this black swan incident, and the year-on-year growth rate of business revenue is still considerable. In 2020, it will successively acquire two same-sex social platforms, LESDO and FINKA.</p><p>In the first quarter after the completion of the acquisition, BT Finance re-examined the data of Blue City Brothers and found: Fortunately, Blue City's business has finally emerged from the weak state in 2020.</p><p>The user increment data of Blue City Brothers in the first quarter looks very gratifying, but by lengthening the timeline, it is not difficult to find that the increase in data is not as optimistic as imagined.</p><p>Since the second half of 2019, the user growth of Bluetown Brothers has stagnated.<b>In the three quarters from the third quarter of 2019 to the first quarter of 2020, the number of monthly active users of Blue City Brothers continued to maintain a low growth rate, with the quarter-on-quarter growth rate not exceeding 5%.</b></p><p>Among them, the number of monthly active users in the fourth quarter of 2019 hardly increased, and the number of users in the first quarter of 2020 only increased by 2% to about 130,000. The sluggish momentum is very obvious.</p><p><img src=\"https://static.tigerbbs.com/75346e503d44c0ff1d2cf41ea5b04990\" tg-width=\"938\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Blue City Brothers may also realize that users are beginning to enter the stock crisis, and other methods must be used.</p><p>After its successful listing in July 2020, Blue City Brothers completed the acquisition of LESDO, a vertical social community for women, and Finka, a social software for men, in August and December 2020, respectively.</p><p>As a result, the growth rate of monthly active users in the fourth quarter of 2020 and the first quarter of 2021 changed from the previous weakness and increased significantly. In the fourth quarter of 2020, the number of monthly active users reached 7.6 million, an increase of 20.6% from the previous quarter. In the first quarter of 2021, the number of monthly active users reached 8.3 million people, an increase of 9.21% from the previous quarter.</p><p>Blue City Brothers did not disclose the ratio of monthly active data among Blued, Finka, and Lesdo softwares in the annual report, so we cannot know how much of the increase in users comes from the superposition of the base and how much comes from the growth of endogenous operations.</p><p>According to reports, Finka, as a vertical social app for men, has more than 3 million registered users; LESDO is a representative of women's vertical social field, reaching 8 million registrations as early as 2018. Based on Blued's own monthly active user ratio of about 1/8, these two apps will contribute about 1.5 million new monthly active users.</p><p><b>Therefore, in the past two quarters, most of the net increase of 2 million monthly active users of Blue City Brothers has come from the data merger of the acquisition of LESDO and Finka, and the increase of less than 500,000 has come from endogenous growth. The average quarter-on-quarter growth rate is still less than 5%.</b></p><p>According to statistics from Frost & Sullivan, a well-known global growth consulting firm, the proportion of LGBTQ people in the whole is about 6%. Based on this calculation, the number of potential LGBTQ people in China is as high as 84 million, but after excluding non-age people, non-mobile network users and some \"deep cabinet\" people, the number of LGBTQ people willing to use social software is not so large.</p><p>According to the data disclosed by Blued, the number of registered users of Blued alone has reached 59 million in the third quarter of 2020. Calculated based on half of the foreign population (half of the monthly active users are overseas people), the number of registered users in China is nearly 30 million. It can be said that the coverage of the population has basically been achieved and it tends to be saturated.</p><p>That is to say, in the LGBTQ social field, user traffic has reached a ceiling.<b>If Blue City Brothers wants to maintain the rapid growth of user scale, they can only choose horizontal expansion: either merge with competitors in the same industry or expand to overseas markets.</b></p><p><b>More and more like<a href=\"https://laohu8.com/S/MOMO\">Momo</a>？</b></p><p>After the successful integration with LESD and Finka, the overall MAU data of Blue City Brothers has indeed increased significantly, supporting the imagination of the future, but the business revenue has changed in the opposite way: the fourth quarter of 2020 and the first quarter of 2021 Although the revenue still increased compared with the same period last year, from a quarter-on-quarter perspective, there have been two consecutive declines. Compared with the total revenue of 297 million yuan in the third quarter of 2020, the revenue in the fourth quarter of 2020 fell by about 6.3% from the previous quarter to 279 million yuan, and the revenue in the first quarter of 2021 continued to decline to 271 million yuan.</p><p>Even from the perspective of year-on-year growth rate, the business growth rate in the fourth quarter of 2020 was only 24%, and the revenue growth rate in the first quarter of 2021 was only 30.7%, which is not only lower than the overall average growth rate of 35.8% in 2020, but also lower than The growth rate in the first quarter of 2020 was 42.7%.</p><p><b>Even if factors such as the Spring Festival will lead to seasonal fluctuations in revenue in the first quarter, considering the small base under the impact of the epidemic in the first quarter of 2020 and the new merger and acquisition of the two companies by Blue City Brothers, such revenue performance is really lower than market expectations.</b></p><p><img src=\"https://static.tigerbbs.com/6363c81e8155b159ce04b825b11f8807\" tg-width=\"943\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p>Similarly, socializing with strangers, one is heterosexual socializing with mainstream groups, and the other is vertical LGBTQ socializing. Momo and Blue City Brothers have a lot in common. Some people even say that Blue City Brothers are just like Momo two years ago.</p><p>In 2018, Momo acquired Tantan; In 2020, Blued acquired Finka, and Tantan and Finka are both screening and matching social software with swipe left and right mode, which has become an important business supplement to Momo and Blued.</p><p>From the perspective of revenue business composition, Momo and Blued are also very similar-the main source of revenue is the live broadcast business.</p><p>Although Momo's live broadcast business revenue only accounted for about 64% of the total revenue in 2020, in 2018, Momo's live broadcast revenue accounted for as high as 79.8%. In 2020, Blued's live broadcast business accounted for 84% of total revenue.</p><p>From the perspective of input-output ratio, the benefits of Blue City Brothers are far less than those of Momo.</p><p>In 2015, Momo's annual revenue was also about 1 billion yuan. The difference is that Momo had already started to make profits at that time, while Blued is still in a state of loss, and there is a tendency to expand losses.</p><p><img src=\"https://static.tigerbbs.com/3cb0d61d309e04fd4220418281f041d7\" tg-width=\"895\" tg-height=\"540\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of input and output of expenses, the current sales investment ratio of Blue City Brothers is lower than that of Momo in 2015, and the R&D investment ratio is equivalent to that of Momo in 2015, but it has not achieved the same profit as Momo in 2015, let alone compared with the low investment and high return of Momo now.</p><p><img src=\"https://static.tigerbbs.com/307be7e9d23e2eea272836073efe91f3\" tg-width=\"895\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In short, the high amount of money invested by Blue City Brothers not only failed to help itself achieve a rapid increase in revenue, but also failed to help itself achieve a profit from negative to positive.</p><p>Burning money ineffectively is the most terrible thing.</p><p>Due to the ceiling problem of the stock market, Blue City Brothers has to continue to enter the international market. Every country and every region needs a matching software version, and it needs to be promoted and operated to cultivate carefully.</p><p>As a result, the R&D expenses and sales expenses of Blue City Brothers have always been maintained at a high level, but the return on business income and the realization effect of traffic are not good.</p><p><b>Secret New Business-\"Comrade\" Health</b></p><p>In the revenue structure of Blue City Brothers, live broadcast revenue is the absolute bulk, accounting for more than 80% of the share.</p><p><b>According to the changes in live broadcast business revenue in the past year, live broadcast business revenue, like the original number of Blued users, has encountered a ceiling bottleneck.</b></p><p>In the fourth quarter of 2020 and the first quarter of 2021, live broadcast business revenue showed a downward trend, with business revenue in the fourth quarter falling by 12% month-on-month.</p><p>The increase in users brought about by mergers and acquisitions did not have a beneficial direct impact on the live broadcast business.</p><p><img src=\"https://static.tigerbbs.com/fee5deefcc0dedb711c8362b17f048c3\" tg-width=\"820\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Due to the particularity of same-sex social interaction, its live broadcast business has repeatedly been exposed to \"edge ball\" incidents.</p><p>According to media reports, many of Blued's live broadcast rooms violate the rules for live broadcast. \"Some anchors open live broadcasts during the day with the theme of 'Men's Team Catwalk', and the 'models' on the 'T-stage' wear uniform white underwear.\"</p><p>\"In the process of interaction between anchors, there is no lack of suggestive chat content\".</p><p>Such a live broadcast scale is an absolute red line of rules on other live broadcast platforms, and it is basically impossible to pass the review. Once it faces regulatory intervention in the future, it is unknown whether Blue City Brothers' live broadcast business revenue will encounter the risk of business shrinkage.</p><p>In contrast, the membership payment business and health business are booming.</p><p><img src=\"https://static.tigerbbs.com/ee09bddab4899653070924311ac37533\" tg-width=\"817\" tg-height=\"495\" referrerpolicy=\"no-referrer\"></p><p>In the first quarter of 2021, the number of paying users increased significantly, with a quarter-on-quarter increase of 23.55% and a year-on-year increase of 47.8%, which directly affected the membership service business revenue to increase by 75.9% year-on-year to 26.4 million yuan.</p><p>This shows that with the regional monopoly position and intensive cultivation of the LGBTQ vertical field, the user stickiness of Blue City Brothers continues to increase.</p><p>On the one hand, user stickiness is the moat for Blue City Brothers to resist risks in the future development process. On the other hand, these paying users also provide a consumer base for the health product consumption business.</p><p>To realize the change of the core of the business, we cannot ignore the rapidly growing and high-hoped Hall Health product sales business of Blue City Brothers.</p><p>In the first quarter of 2021, the commodity sales revenue from Hall Health was 11.4 million yuan, a year-on-year increase of 297.7%.</p><p>Previously, Blued's e-commerce business content was mainly limited to male health products and sexual appliances, and the exploration of user needs was not in-depth.</p><p>But after 2019, Blue City Brothers launched an independent health service brand \"Hall Health\", which took HIV detection, blocking, prevention and treatment as the breakthrough point, and deeply approached the unspeakable \"health needs\" of gay men.</p><p><img src=\"https://static.tigerbbs.com/9dacdcffc26e47e705848fcf3e4a0b48\" tg-width=\"1055\" tg-height=\"515\" referrerpolicy=\"no-referrer\"></p><p>The earliest transmission of HIV began among gay men in the United States in the 1980s. Because of the special sexual behavior, gay men have always been the hardest hit area of HIV-infected people. In the United States and Europe, gay and bisexual men are the main HIV-infected groups.</p><p>According to the China Health Commission, of the 96,000 new cases identified in the first three quarters of 2016, 28% were MSM (male gay sexual contacts), compared with only 2.5% in 2006.</p><p>The threat of AIDS to gay men is far higher than that of ordinary people, so this group has a higher demand for AIDS protection, detection and blocking.</p><p>Blue City Brothers has seized this \"unspeakable\" health segment. After taking AIDS health services as the entry point, Hall Health has also expanded other \"unspeakable\" health services such as sexual dysfunction and hair loss. With the accurate docking and in-depth binding of its user groups, it has opened up a unique, niche but irreplaceable health business path.</p><p><b>Compared with the sale of health care products and sexual appliances through e-commerce, Hall Health's business has higher consumption frequency, greater consumption potential, and deeper consumption binding.</b></p><p>In less than two years since the establishment of Hall Health Business, the business has developed rapidly and is expected to become the Blue City Brothers' next live broadcast<a href=\"https://laohu8.com/S/ABCD\">newly born</a>The core business has truly opened up the closed business loop from traffic to consumption, and the story of * 's economy has finally become complete.</p><p>Although compared with traditional heterosexual social platforms such as Momo, the traffic pool of Blue City Brothers' business is naturally at a disadvantage. Therefore, Momo only needs to deeply operate in the domestic region, and it can gain much more than the Blue City brothers' hard work to develop overseas markets.</p><p><b>However, with a relatively niche field + absolute market share, Blue City Brothers has gained more sticky users, stronger market barriers and business growth with clear paths.</b></p><p>From obtaining user traffic to binding user consumption, from realizing live broadcasts to realizing health services, the business story of Blue City Brothers may be \"difficult to tell\", but it also exudes its unique brilliance of \"small but beautiful\".</p>","source":"lsy1588993976395","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>Blue City Brothers' \"Same Sex\" Business Experience</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\">\nBlue City Brothers' \"Same Sex\" Business Experience\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">BT财经</strong><span class=\"h-time small\">2021-06-29 18:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/BLCT\">Blue City Brothers</a>As a secret gathering place for the LGBTQ community in Asia, can it go through the closed loop of traffic monetization after the traffic reaches its peak? In mid-June, Blued, known as the \"No. 1 stock in *\", announced its first-quarter financial report. This company focusing on LGBTQ vertical social networking handed in a looking good performance answer sheet.</p><p>The financial report shows that in terms of the number of users, the overall MAU (monthly active users) of Blue City Brothers reached 8.3 million, a year-on-year increase of 37.5%, and the number of paid members also reached a record high of 640,000, a year-on-year increase of 47.8%.</p><p>According to Blue City Brothers, its software has the largest market share in the LGBTQ social field in China and other parts of Asia (including India, South Korea, Thailand and Vietnam). In 2021, it will also make efforts in Latin America to continue to explore the international market. The number of users can continue to increase in the future.</p><p>However, from the perspective of business data, in the first quarter of 2021, Blue City Brothers achieved operating income of 271.1 million yuan, a year-on-year increase of 31%, and a loss of 52.1 million yuan. In the same period of 2020, it was a loss of 7.6 million yuan, and the loss expanded by 585% year-on-year.</p><p><b>The year-on-year growth rate of operating income looks good, but the loss has expanded instead. What happened to the Blue City brothers who increased revenue but did not increase profits?</b></p><p><b>Users reach the top, and increment depends on buying</b></p><p>Blue City Brothers, the first stock in * 's economy, still can only rely on the live broadcast business to support the sky, and the vigorously cultivated health business is still in its infancy.</p><p>Previously affected by the celebrity surrogacy incident, the \"gay\" family surrogacy business, an important part of Blue City Brothers' business closed loop, was also forced to close, and publicly announced the termination of the business in the first quarter report of 2021.</p><p>Blue City's business development does not seem to be affected by this black swan incident, and the year-on-year growth rate of business revenue is still considerable. In 2020, it will successively acquire two same-sex social platforms, LESDO and FINKA.</p><p>In the first quarter after the completion of the acquisition, BT Finance re-examined the data of Blue City Brothers and found: Fortunately, Blue City's business has finally emerged from the weak state in 2020.</p><p>The user increment data of Blue City Brothers in the first quarter looks very gratifying, but by lengthening the timeline, it is not difficult to find that the increase in data is not as optimistic as imagined.</p><p>Since the second half of 2019, the user growth of Bluetown Brothers has stagnated.<b>In the three quarters from the third quarter of 2019 to the first quarter of 2020, the number of monthly active users of Blue City Brothers continued to maintain a low growth rate, with the quarter-on-quarter growth rate not exceeding 5%.</b></p><p>Among them, the number of monthly active users in the fourth quarter of 2019 hardly increased, and the number of users in the first quarter of 2020 only increased by 2% to about 130,000. The sluggish momentum is very obvious.</p><p><img src=\"https://static.tigerbbs.com/75346e503d44c0ff1d2cf41ea5b04990\" tg-width=\"938\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Blue City Brothers may also realize that users are beginning to enter the stock crisis, and other methods must be used.</p><p>After its successful listing in July 2020, Blue City Brothers completed the acquisition of LESDO, a vertical social community for women, and Finka, a social software for men, in August and December 2020, respectively.</p><p>As a result, the growth rate of monthly active users in the fourth quarter of 2020 and the first quarter of 2021 changed from the previous weakness and increased significantly. In the fourth quarter of 2020, the number of monthly active users reached 7.6 million, an increase of 20.6% from the previous quarter. In the first quarter of 2021, the number of monthly active users reached 8.3 million people, an increase of 9.21% from the previous quarter.</p><p>Blue City Brothers did not disclose the ratio of monthly active data among Blued, Finka, and Lesdo softwares in the annual report, so we cannot know how much of the increase in users comes from the superposition of the base and how much comes from the growth of endogenous operations.</p><p>According to reports, Finka, as a vertical social app for men, has more than 3 million registered users; LESDO is a representative of women's vertical social field, reaching 8 million registrations as early as 2018. Based on Blued's own monthly active user ratio of about 1/8, these two apps will contribute about 1.5 million new monthly active users.</p><p><b>Therefore, in the past two quarters, most of the net increase of 2 million monthly active users of Blue City Brothers has come from the data merger of the acquisition of LESDO and Finka, and the increase of less than 500,000 has come from endogenous growth. The average quarter-on-quarter growth rate is still less than 5%.</b></p><p>According to statistics from Frost & Sullivan, a well-known global growth consulting firm, the proportion of LGBTQ people in the whole is about 6%. Based on this calculation, the number of potential LGBTQ people in China is as high as 84 million, but after excluding non-age people, non-mobile network users and some \"deep cabinet\" people, the number of LGBTQ people willing to use social software is not so large.</p><p>According to the data disclosed by Blued, the number of registered users of Blued alone has reached 59 million in the third quarter of 2020. Calculated based on half of the foreign population (half of the monthly active users are overseas people), the number of registered users in China is nearly 30 million. It can be said that the coverage of the population has basically been achieved and it tends to be saturated.</p><p>That is to say, in the LGBTQ social field, user traffic has reached a ceiling.<b>If Blue City Brothers wants to maintain the rapid growth of user scale, they can only choose horizontal expansion: either merge with competitors in the same industry or expand to overseas markets.</b></p><p><b>More and more like<a href=\"https://laohu8.com/S/MOMO\">Momo</a>？</b></p><p>After the successful integration with LESD and Finka, the overall MAU data of Blue City Brothers has indeed increased significantly, supporting the imagination of the future, but the business revenue has changed in the opposite way: the fourth quarter of 2020 and the first quarter of 2021 Although the revenue still increased compared with the same period last year, from a quarter-on-quarter perspective, there have been two consecutive declines. Compared with the total revenue of 297 million yuan in the third quarter of 2020, the revenue in the fourth quarter of 2020 fell by about 6.3% from the previous quarter to 279 million yuan, and the revenue in the first quarter of 2021 continued to decline to 271 million yuan.</p><p>Even from the perspective of year-on-year growth rate, the business growth rate in the fourth quarter of 2020 was only 24%, and the revenue growth rate in the first quarter of 2021 was only 30.7%, which is not only lower than the overall average growth rate of 35.8% in 2020, but also lower than The growth rate in the first quarter of 2020 was 42.7%.</p><p><b>Even if factors such as the Spring Festival will lead to seasonal fluctuations in revenue in the first quarter, considering the small base under the impact of the epidemic in the first quarter of 2020 and the new merger and acquisition of the two companies by Blue City Brothers, such revenue performance is really lower than market expectations.</b></p><p><img src=\"https://static.tigerbbs.com/6363c81e8155b159ce04b825b11f8807\" tg-width=\"943\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p>Similarly, socializing with strangers, one is heterosexual socializing with mainstream groups, and the other is vertical LGBTQ socializing. Momo and Blue City Brothers have a lot in common. Some people even say that Blue City Brothers are just like Momo two years ago.</p><p>In 2018, Momo acquired Tantan; In 2020, Blued acquired Finka, and Tantan and Finka are both screening and matching social software with swipe left and right mode, which has become an important business supplement to Momo and Blued.</p><p>From the perspective of revenue business composition, Momo and Blued are also very similar-the main source of revenue is the live broadcast business.</p><p>Although Momo's live broadcast business revenue only accounted for about 64% of the total revenue in 2020, in 2018, Momo's live broadcast revenue accounted for as high as 79.8%. In 2020, Blued's live broadcast business accounted for 84% of total revenue.</p><p>From the perspective of input-output ratio, the benefits of Blue City Brothers are far less than those of Momo.</p><p>In 2015, Momo's annual revenue was also about 1 billion yuan. The difference is that Momo had already started to make profits at that time, while Blued is still in a state of loss, and there is a tendency to expand losses.</p><p><img src=\"https://static.tigerbbs.com/3cb0d61d309e04fd4220418281f041d7\" tg-width=\"895\" tg-height=\"540\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of input and output of expenses, the current sales investment ratio of Blue City Brothers is lower than that of Momo in 2015, and the R&D investment ratio is equivalent to that of Momo in 2015, but it has not achieved the same profit as Momo in 2015, let alone compared with the low investment and high return of Momo now.</p><p><img src=\"https://static.tigerbbs.com/307be7e9d23e2eea272836073efe91f3\" tg-width=\"895\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In short, the high amount of money invested by Blue City Brothers not only failed to help itself achieve a rapid increase in revenue, but also failed to help itself achieve a profit from negative to positive.</p><p>Burning money ineffectively is the most terrible thing.</p><p>Due to the ceiling problem of the stock market, Blue City Brothers has to continue to enter the international market. Every country and every region needs a matching software version, and it needs to be promoted and operated to cultivate carefully.</p><p>As a result, the R&D expenses and sales expenses of Blue City Brothers have always been maintained at a high level, but the return on business income and the realization effect of traffic are not good.</p><p><b>Secret New Business-\"Comrade\" Health</b></p><p>In the revenue structure of Blue City Brothers, live broadcast revenue is the absolute bulk, accounting for more than 80% of the share.</p><p><b>According to the changes in live broadcast business revenue in the past year, live broadcast business revenue, like the original number of Blued users, has encountered a ceiling bottleneck.</b></p><p>In the fourth quarter of 2020 and the first quarter of 2021, live broadcast business revenue showed a downward trend, with business revenue in the fourth quarter falling by 12% month-on-month.</p><p>The increase in users brought about by mergers and acquisitions did not have a beneficial direct impact on the live broadcast business.</p><p><img src=\"https://static.tigerbbs.com/fee5deefcc0dedb711c8362b17f048c3\" tg-width=\"820\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Due to the particularity of same-sex social interaction, its live broadcast business has repeatedly been exposed to \"edge ball\" incidents.</p><p>According to media reports, many of Blued's live broadcast rooms violate the rules for live broadcast. \"Some anchors open live broadcasts during the day with the theme of 'Men's Team Catwalk', and the 'models' on the 'T-stage' wear uniform white underwear.\"</p><p>\"In the process of interaction between anchors, there is no lack of suggestive chat content\".</p><p>Such a live broadcast scale is an absolute red line of rules on other live broadcast platforms, and it is basically impossible to pass the review. Once it faces regulatory intervention in the future, it is unknown whether Blue City Brothers' live broadcast business revenue will encounter the risk of business shrinkage.</p><p>In contrast, the membership payment business and health business are booming.</p><p><img src=\"https://static.tigerbbs.com/ee09bddab4899653070924311ac37533\" tg-width=\"817\" tg-height=\"495\" referrerpolicy=\"no-referrer\"></p><p>In the first quarter of 2021, the number of paying users increased significantly, with a quarter-on-quarter increase of 23.55% and a year-on-year increase of 47.8%, which directly affected the membership service business revenue to increase by 75.9% year-on-year to 26.4 million yuan.</p><p>This shows that with the regional monopoly position and intensive cultivation of the LGBTQ vertical field, the user stickiness of Blue City Brothers continues to increase.</p><p>On the one hand, user stickiness is the moat for Blue City Brothers to resist risks in the future development process. On the other hand, these paying users also provide a consumer base for the health product consumption business.</p><p>To realize the change of the core of the business, we cannot ignore the rapidly growing and high-hoped Hall Health product sales business of Blue City Brothers.</p><p>In the first quarter of 2021, the commodity sales revenue from Hall Health was 11.4 million yuan, a year-on-year increase of 297.7%.</p><p>Previously, Blued's e-commerce business content was mainly limited to male health products and sexual appliances, and the exploration of user needs was not in-depth.</p><p>But after 2019, Blue City Brothers launched an independent health service brand \"Hall Health\", which took HIV detection, blocking, prevention and treatment as the breakthrough point, and deeply approached the unspeakable \"health needs\" of gay men.</p><p><img src=\"https://static.tigerbbs.com/9dacdcffc26e47e705848fcf3e4a0b48\" tg-width=\"1055\" tg-height=\"515\" referrerpolicy=\"no-referrer\"></p><p>The earliest transmission of HIV began among gay men in the United States in the 1980s. Because of the special sexual behavior, gay men have always been the hardest hit area of HIV-infected people. In the United States and Europe, gay and bisexual men are the main HIV-infected groups.</p><p>According to the China Health Commission, of the 96,000 new cases identified in the first three quarters of 2016, 28% were MSM (male gay sexual contacts), compared with only 2.5% in 2006.</p><p>The threat of AIDS to gay men is far higher than that of ordinary people, so this group has a higher demand for AIDS protection, detection and blocking.</p><p>Blue City Brothers has seized this \"unspeakable\" health segment. After taking AIDS health services as the entry point, Hall Health has also expanded other \"unspeakable\" health services such as sexual dysfunction and hair loss. With the accurate docking and in-depth binding of its user groups, it has opened up a unique, niche but irreplaceable health business path.</p><p><b>Compared with the sale of health care products and sexual appliances through e-commerce, Hall Health's business has higher consumption frequency, greater consumption potential, and deeper consumption binding.</b></p><p>In less than two years since the establishment of Hall Health Business, the business has developed rapidly and is expected to become the Blue City Brothers' next live broadcast<a href=\"https://laohu8.com/S/ABCD\">newly born</a>The core business has truly opened up the closed business loop from traffic to consumption, and the story of * 's economy has finally become complete.</p><p>Although compared with traditional heterosexual social platforms such as Momo, the traffic pool of Blue City Brothers' business is naturally at a disadvantage. Therefore, Momo only needs to deeply operate in the domestic region, and it can gain much more than the Blue City brothers' hard work to develop overseas markets.</p><p><b>However, with a relatively niche field + absolute market share, Blue City Brothers has gained more sticky users, stronger market barriers and business growth with clear paths.</b></p><p>From obtaining user traffic to binding user consumption, from realizing live broadcasts to realizing health services, the business story of Blue City Brothers may be \"difficult to tell\", but it also exudes its unique brilliance of \"small but beautiful\".</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/-hDx2-K4AmZSsgjKwzmprg\">BT财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9b04c4a552ab5210706bb7ed078cf967","relate_stocks":{"BLCT":"蓝城兄弟"},"source_url":"https://mp.weixin.qq.com/s/-hDx2-K4AmZSsgjKwzmprg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139578847","content_text":"蓝城兄弟作为亚洲LGBTQ群体的隐秘聚集地，在流量到顶后能否走通流量变现的闭环？\n\n6月中旬，号称“粉红第一股”的蓝城兄弟（Blued）公布了一季度财报，这家专注于LGBTQ垂直社交的企业交上了一份看起来还不错的业绩答卷。\n财报显示，从用户人数来看，蓝城兄弟的整体MAU（月活用户）数量达到了830万人，同比增长37.5%，付费会员数也达到了历史新高64万人，同比增长47.8%。\n据蓝城兄弟表述，其软件在中国、亚洲其他地区（包括印度、韩国、泰国和越南）的LGBTQ社交领域均市场占有率第一，2021年还将在拉丁美洲发力，继续开拓国际市场，未来用户数量持续增加可期。\n不过从业务数据看，2021年一季度，蓝城兄弟实现营业收入2.711亿元，同比增长31%，亏损5210万元，2020年同期为亏损760万元，亏损幅度同比扩大了585%。\n营业收入同比增速看起来还不错，但亏损反而扩大了，增收不增利的蓝城兄弟遭遇了什么？\n用户到顶，增量靠买\n粉红经济第一股蓝城兄弟如今依然只能依赖直播业务撑起一片天，大力培育的健康业务还处于萌芽之中。\n此前受明星代孕事件影响，蓝城兄弟商业闭环中的重要组成部分——“同志”家庭代孕业务也被迫关闭，并且在2021年一季度报告里公开宣布业务终止。\n蓝城的业务开展似乎并没有受到这一黑天鹅事件的影响，业务收入同比增速依然可观，2020年接连收购LESDO、FINKA两大同性社交平台。\n完成收购后的第一个季度，BT财经重新审视蓝城兄弟的数据发现：还好，蓝城业务终于走出了2020年的乏力状态。\n蓝城兄弟一季度的用户增量数据看起来很喜人，但把时间轴拉长，不难发现，数据的增加并没有想象中那么乐观。\n从2019年下半年开始，蓝城兄弟的用户增长就出现停滞，从2019年三季度到2020年一季度的三个季度里，蓝城兄弟的月活用户数持续维持低速增长，环比增速均不超过5%。\n其中，2019年四季度的月活用户几乎未有增加，2020年一季度的用户数量也仅增加2%约13万人，势头萎靡十分明显。\n\n蓝城兄弟可能也意识到：用户开始步入存量危机，必须要动用其他办法了。\n2020年7月成功上市后，蓝城兄弟分别在2020年8月和12月，完成了对女性垂直社交社区LESDO和男性社交软件Finka的收购。\n于是2020年四季度和2021年一季度的月活用户增速一改此前的疲态，大幅增加，2020年四季度月活用户达到760万人，环比增加20.6%，2021年一季度月活用户达830万人，环比增加9.21%。\n蓝城兄弟并没有在年报中披露月活数据在Blued、Finka、Lesdo三个软件之间的比例是什么，因此我们无法得知用户增加有多少来自于基数的叠加、多少来自于内生运营增长。\n据报道，Finka作为男性垂直社交app，注册用户数量超过300万；而LESDO则是女性垂直社交领域的代表，早在2018年就达到了800万的注册量。按照Blued本身大约1/8的月活用户比例来计算，这两个app将贡献约150万的新增月活用户。\n因此近两个季度以来，蓝城兄弟月活用户净增加的200万中，大部分都是来自于收购LESDO、Finka的数据合并，只有不到50万的增量来自于内生增长，平均单季度环比增速依然不足5%。\n著名全球增长咨询公司Frost&Sullivan统计数据显示，LGBTQ人群在整体当中的比例约为6%。如果以此计算，中国的潜在LGBTQ人群数量高达8400万，但排除非适龄人群、非移动网络使用人群和一些“深柜”人群后，愿意使用社交软件的LGBTQ人群数量并没有这么多。\n根据Blued披露的数据，仅Blued注册用户在2020年三季度时就已经达到了5900万，按照其中一半的外国人群计算（月活用户一半为海外人群），中国的注册用户数将近3000万，可以说已经基本实现了人群的覆盖，趋于饱和。\n也就是说在LGBTQ社交领域，用户流量已经出现了天花板，蓝城兄弟想要维持用户规模的快速增长就只能选择横向的扩张：要么与同业竞争者合并、要么向海外市场扩张。\n越来越像陌陌？\n在与LESD、Finka成功整合之后，蓝城兄弟整体的MAU数据确实出现了大幅增长，支撑了未来的想象空间，但是业务收入却出现了与之相反的变化：2020年四季度和2021年一季度的营收虽然与去年同期相比仍有增长，但从环比上看却出现了两连降。相比于2020年三季度2.97亿元的总营收，2020年四季度的营收环比下滑了约6.3%、为2.79亿元，2021年一季度的营收继续下降为2.71亿元。\n即便是从同比增速来看，2020年四季度业务增速仅为24%，2021年一季度营收增速仅为30.7%，不仅低于2020年整体平均增速35.8%、更低于2020年一季度的增速42.7%。\n即便春节等因素会导致一季度收入出现季节性波动，但考虑到2020年一季度疫情影响下基数不大以及蓝城兄弟新并购整合了两家企业情况下，如此的营收表现，着实是低于市场预期的。\n\n同样做陌生人社交，一个是做主流群体的异性社交，一个是做垂直的LGBTQ社交，陌陌和蓝城兄弟有着非常多的共通之处，更有人说，蓝城兄弟就像是两年前的陌陌一样。\n2018年，陌陌收购了探探；2020年，Blued收购了Finka，而探探、Finka都是左滑右滑模式的筛选配对社交软件，成为了陌陌和Blued的重要业务补充。\n从营收业务构成来看，陌陌与Blued也十分相似——主要收入来源都是直播业务。\n尽管2020年陌陌的直播业务收入仅占据总收入的64%左右，但在2018年时，陌陌直播收入的占比也曾高达79.8%。而2020年Blued直播业务占总营收的比例为84%。\n如果从投入产出比上看，蓝城兄弟的效益远不及陌陌。\n陌陌在2015年时年营收也是10亿元左右的规模，不同的是彼时的陌陌就已经开始盈利了，Blued至今仍然处于亏损状态，而且有亏损扩大的趋势。\n\n从费用的投入产出来看，当前蓝城兄弟的销售投入比例低于2015年的陌陌，研发投入比例与2015年的陌陌相当，却并没有像陌陌在2015年时一样，实现盈利，更不用和现在的陌陌的低投入高回报相比了。\n\n简而言之，蓝城兄弟投入的高额资金不仅没有帮助自身实现营收快速增加，也没有帮助自己实现利润由负转正。\n无效烧钱最为可怕。\n由于存量市场天花板问题，蓝城兄弟不得不持续向国际市场进军，每一个国家、每一个区域都需要与之相匹配的软件版本、都需要推广运营来细心耕耘。\n这导致蓝城兄弟的研发开支和销售开支始终维持在较高的水平，但业务收入回报和流量变现效果却并不佳。\n隐秘新业务——“同志”健康\n在蓝城兄弟的收入结构中，直播收入是其中绝对的大头，占据80%以上的份额。\n根据过去一年以来的直播业务收入变化情况来看，直播业务收入与原本Blued用户数量一样，遭遇了天花板瓶颈。\n2020年四季度和2021年一季度直播业务收入都呈现下滑态势，其中四季度业务收入环比下降12%。\n并购带来的用户增量并没有给直播业务带来有益的直接影响。\n\n由于同性社交带有一定的特殊性，其直播业务屡屡被曝出“打擦边球”的事件。\n据媒体报道，Blued的不少直播间都存在违反规则进行直播的现象。“有些主播以‘男团走秀’为主题在日间开通直播，‘T台’上的‘模特们’身上穿着统一的白色内裤。”\n“主播之间的互动过程中，不乏充满暗示意味的聊天内容”。\n这样的直播尺度，在其他直播平台上是绝对的规则红线，基本无法过审。一旦未来面临监管介入后，蓝城兄弟的直播业务收入是否将遭遇业务萎缩的风险不得而知。\n与之相对的是会员付费业务和健康业务发展欣欣向荣。\n\n2021年一季度，付费用户数量大幅提升，环比增加23.55%、同比增长47.8%，直接影响会员服务业务收入同比增长 75.9%，达到2640万元。\n这说明凭借区域的垄断地位和对LGBTQ垂直领域的深耕细作，蓝城兄弟的用户粘性在持续提升。\n一方面，用户粘性是蓝城兄弟未来发展过程中抵御风险的护城河。另一方面，这些付费用户也为健康产品消费业务提供了消费人群基础。\n要实现业务核心的变更，我们不可忽视的是蓝城兄弟快速增长并被寄予厚望的荷尔健康商品销售业务。\n2021年一季度来自荷尔健康的商品销售收入为1140万元，同比增长297.7%。\n此前Blued的电商业务内容也主要局限于男性保健品与性器具，对用户需求的发掘并不深入。\n但2019年后，蓝城兄弟推出了独立健康服务品牌“荷尔健康”，以HIV的检测、阻断、预防和治疗为切入点，深入贴近了男同群体们不可言说的“健康需求”。\n\nHIV最早的传播就是从20世纪80年代的美国男同群体之间开始的。由于特殊的性行为方式，男同一直是HIV感染者的重灾区。在美国和欧洲，男性同性恋和双性恋男性是主要HIV感染群体。\n据中国卫健委透露，在2016年前三个季度识别出的96000例新发病例中，28%为MSM（男性同性恋性接触者），而这一数据在2006年仅为2.5%。\n艾滋对于男同群体的威胁远比普通人更高，因此这一群体对艾滋的防护、检测、阻断需求也更高。\n蓝城兄弟正是抓住了这一个“不可言说”的健康细分领域。把艾滋健康服务作为切入口之后，荷尔健康还拓展了性功能障碍、脱发等其他“难以启齿”的健康服务，凭借其用户群体的准确对接和深入绑定，开拓出了一条独特、小众却无可替代的健康业务之路。\n相比于通过电商售卖保健品与性器具，荷尔健康业务的消费频次更高、消费潜力更大、消费绑定也更加深入。\n荷尔健康业务成立两年不到的时间里，业务发展迅速，有望成为蓝城兄弟继直播之后的新生核心业务，真正打通了从流量到消费的商业闭环，粉红经济的故事脉络终于趋于完整。\n虽然相比于陌陌等传统异性社交平台，蓝城兄弟业务的流量池天然处于劣势。所以陌陌仅需深度经营国内区域，就能比蓝城兄弟辛苦开拓海外市场的收获多得多。\n但凭借相对小众的领域+绝对的市场占有率，蓝城兄弟得到的是更加有粘性的用户、更加坚固的市场壁垒以及路径清晰的业务增长。\n从得到用户流量到绑定用户消费，从直播变现到健康服务变现，蓝城兄弟的商业故事或许“难以启齿”，但也散发着其“小而美”的独特光辉。","news_type":1,"symbols_score_info":{"BLCT":0.9}},"isVote":1,"tweetType":1,"viewCount":2461,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159275438,"gmtCreate":1624972881224,"gmtModify":1703849125234,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159275438","repostId":"1179060783","repostType":4,"isVote":1,"tweetType":1,"viewCount":1966,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159272715,"gmtCreate":1624972845137,"gmtModify":1703849124095,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159272715","repostId":"1131894752","repostType":4,"isVote":1,"tweetType":1,"viewCount":2065,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159272865,"gmtCreate":1624972815757,"gmtModify":1703849123444,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159272865","repostId":"1179060783","repostType":4,"isVote":1,"tweetType":1,"viewCount":2340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159276594,"gmtCreate":1624972798618,"gmtModify":1703849122468,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159276594","repostId":"1164662782","repostType":4,"repost":{"id":"1164662782","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624967212,"share":"https://ttm.financial/m/news/1164662782?lang=en_US&edition=fundamental","pubTime":"2021-06-29 19:46","market":"us","language":"zh","title":"At $23.5/ADS, Dingdong Maicai sets IPO price at bottom of guidance range","url":"https://stock-news.laohu8.com/highlight/detail?id=1164662782","media":"老虎资讯综合","summary":"叮咚买菜据悉将美股IPO价格定在指导区间的底部23.5美元/ADS。\n相关阅读\n即将上市的叮咚买菜再次更新招股书，其筹资规模大幅缩减至此前额度的四分之一。最新的招股书显示，叮咚买菜首次公开发行370万","content":"<p>Dingdong Maicai is reported to have set the IPO price of US stocks at the bottom of the guidance range at $23.5/ADS.</p><p><b>Related reading</b></p><p>Dingdong Maicai, which is about to go public, updated its prospectus again, and its fund-raising scale was greatly reduced to a quarter of the previous quota. According to the latest prospectus, Dingdong Maicai's initial public offering of 3.7 million American depositary shares (ADS) is the same as before, maintaining between US $23.5 and US $25.5. According to the upper limit of the issue price range, Dingdong Maicai's fund-raising amount is about $94 million.</p><p>A week ago, Dingdong Maicai's first updated prospectus showed that it would publicly issue 14 million American depositary shares. At that time, it could raise nearly US $360 million based on the upper limit of the issue price range. In contrast, the most recently announced fundraising scale has been reduced to a quarter of the previous quota, that is, the overall reduction has exceeded 70%.</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>At $23.5/ADS, Dingdong Maicai sets IPO price at bottom of guidance range</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\">\nAt $23.5/ADS, Dingdong Maicai sets IPO price at bottom of guidance range\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-29 19:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Dingdong Maicai is reported to have set the IPO price of US stocks at the bottom of the guidance range at $23.5/ADS.</p><p><b>Related reading</b></p><p>Dingdong Maicai, which is about to go public, updated its prospectus again, and its fund-raising scale was greatly reduced to a quarter of the previous quota. According to the latest prospectus, Dingdong Maicai's initial public offering of 3.7 million American depositary shares (ADS) is the same as before, maintaining between US $23.5 and US $25.5. According to the upper limit of the issue price range, Dingdong Maicai's fund-raising amount is about $94 million.</p><p>A week ago, Dingdong Maicai's first updated prospectus showed that it would publicly issue 14 million American depositary shares. At that time, it could raise nearly US $360 million based on the upper limit of the issue price range. In contrast, the most recently announced fundraising scale has been reduced to a quarter of the previous quota, that is, the overall reduction has exceeded 70%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"DDL":"叮咚买菜"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164662782","content_text":"叮咚买菜据悉将美股IPO价格定在指导区间的底部23.5美元/ADS。\n相关阅读\n即将上市的叮咚买菜再次更新招股书，其筹资规模大幅缩减至此前额度的四分之一。最新的招股书显示，叮咚买菜首次公开发行370万股美国存托股票(ADS)，发行价格区间与此前相同，维持在23.5美元至25.5美元之间。按照发行价区间上限计算，叮咚买菜筹资金额大约在9400万美元左右。\n一周前，叮咚买菜首次更新的招股书显示其将公开发行1400万股美国存托股票，彼时按照发行价区间上限计算可筹资达到近3.6亿美元。对比之下，最近一次宣布的募资规模缩减至此前额度的四分之一，即总体缩减幅度超70%。","news_type":1,"symbols_score_info":{"DDL":0.9}},"isVote":1,"tweetType":1,"viewCount":2494,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159276331,"gmtCreate":1624972786223,"gmtModify":1703849121653,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159276331","repostId":"2147863759","repostType":4,"repost":{"id":"2147863759","kind":"highlight","pubTimestamp":1624971302,"share":"https://ttm.financial/m/news/2147863759?lang=en_US&edition=fundamental","pubTime":"2021-06-29 20:55","market":"sh","language":"zh","title":"Tesla put CATL to the \"C position\"","url":"https://stock-news.laohu8.com/highlight/detail?id=2147863759","media":"华尔街见闻","summary":"宁德时代最近成为新能源界的C位担当，一是因为董事长曾毓群暴涨的身价，二是因为和特斯拉的一纸电池合约。\n6月28日，宁德时代发布公告称，公司已与特斯拉签订协议，将在2022年1月至2025年12月期间，","content":"<p><a href=\"https://laohu8.com/S/300750\">Ningde era</a>Recently, he has become a C-level leader in the new energy industry. First, because of the skyrocketing value of Chairman Zeng Yuqun, and second, because he and<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>A battery contract.</p><p>On June 28, CATL announced that the company had signed an agreement with Tesla to supply lithium-ion power battery products to Tesla from January 2022 to December 2025, that is, in the next four years. The specific purchase situation is determined by Tesla in the form of orders, and the final sales amount must be subject to the actual settlement of the purchase order issued by Tesla.</p><p>In the future, Tesla's Model 3, Model Y and other models will use battery packs from CATL.</p><p><img src=\"https://static.tigerbbs.com/a713164f29f737032b723520c810364e\" tg-width=\"600\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Affected by this news, on June 29, Contemporary Amperex Technology Co., Limited's stock price hit a new high. The intraday stock price once reached 519.60 yuan per share, and the total market value exceeded 1.2 trillion yuan. As of the close, Contemporary Amperex Technology Co., Limited's share price closed at 508.51 yuan per share, an increase of 2.96%. Become the first technology stock in A-shares to enter the trillion-dollar club.</p><p>It is worth mentioning that since last year, CATL's stock price has been like a rocket, with its total market value rising from 0.23 trillion yuan to 1.18 trillion yuan, an increase of more than 4 times.</p><p>June 29th,<a href=\"https://laohu8.com/S/601995\">CICC</a>According to the evaluation of this cooperation, CATL's agreement with Tesla is stronger than the previous cooperation. Considering that the company's downstream demand exceeded expectations, CATL's profit forecast was raised and the target price was raised by 9% to 600 yuan. CICC also raised CATL's 2021-2023 profit forecast by 10%, 25% and 8% to 11 billion yuan, 20 billion yuan and 26.7 billion yuan respectively.</p><p><a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>Recently, a research report was released saying that it maintains CATL's buy rating with a target price of 607.5 yuan. The reasons for its rating include: the strategic cooperation agreement with car companies is bound to battery production capacity, which can solve the bottleneck of battery supply and ensure that production capacity is not limited.</p><p>In addition, CICC analyst Zeng Tao and others pointed out in the report that the agreement did not stipulate the Chinese market, which means that CATL will take the opportunity to cooperate with Tesla's global market supply to accelerate its products to go global. Boosted by global demand, CATL's long-term global market share is expected to reach more than 30%.</p><p>This is another handshake between the two leading companies. For CATL, which has already reached a high market value of trillions, the deep binding with Tesla, the largest customer, is not only related to the installed battery capacity brought by this customer, but also an important ticket to break through the overseas power battery market.</p><p><h2><b>Secondary</b><b>\"Hand in Hand\"</b></h2>It is reported that in 2018, when Musk signed the Tesla Shanghai factory landing agreement, he secretly met with Zeng Yuqun, chairman of CATL, but the two parties did not reach a substantive agreement.</p><p>At the \"2019 World Artificial Intelligence Conference\", the two met again and finalized their cooperation intention in more than 40 minutes.</p><p>In February 2020, a contract truly brought together two leading companies in new car manufacturing and power batteries. At that time, Contemporary Amperex Technology Co., Limited signed the \"Production Pricing Agreement (China)\" with Tesla, and planned to supply lithium-ion power battery products to Tesla from July 2020 to June 2022.</p><p>According to this contract, CATL supplies batteries for Tesla's Model 3 produced in Shanghai. At the beginning of 2021, after Tesla launches Model Y, the scope of cooperation between the two parties is also expected to be further expanded.</p><p>On June 25 this year, on the basis of this agreement, the two parties signed the above-mentioned cooperation framework agreement \"Production Pricing Agreement\". The agreement stipulates that CATL plans to supply lithium-ion power battery products to Tesla in the next four years. Some analysts believe that the difference between the two cooperation framework agreements lies in the removal of \"China\", which indicates that this supply agreement will cover the whole world.</p><p>The further deepening of cooperation between the two sides has actually long been predicted.</p><p>On June 3, Reuters quoted people familiar with the matter as saying that CATL plans to build a new large-scale power battery factory in Shanghai to provide half of Tesla's global batteries for electric vehicles and rooftop energy storage.</p><p>There are rumors that the annual production capacity of the Shanghai factory will reach 80GWh, while CATL's existing production capacity is 69.1 GWh and 77.5 GWh of production capacity is under construction.</p><p>In addition, the \"Oolong Incident\" that occurred recently in the Ningde era is also related to Tesla. Recently, someone who claimed to be an employee of Ningde Times broke the news that Ningde Times forced manager-level employees to buy Tesla Model 3. Some employees said that the company launched a discount to buy Tesla in order to clear the \"battery problem\" Tesla inventory.</p><p>Contemporary Amperex Technology Co., Limited stated that there were no quality problems and no mandatory purchases. \"Regarding employees' purchase of Tesla, the company encourages employees to buy electric vehicles at preferential prices in order to promote comprehensive electrification. There is no mandate, nor is it limited to Tesla, including most of the brands it supplies. It is said that this activity has lasted for three years. Year, last year was during National Day.\"</p><p><h2><b>\"Binding\" deepens</b></h2>Regardless of the oolong incident, the relationship between Tesla and CATL is being further tied.</p><p>Contemporary Amperex Technology Co., Limited's 2021 Q1 financial report shows that the company's sales to the top five customers accounted for 41.08% of the current receivables, and the company's main customers are large domestic and foreign car companies. The 2020 annual report shows that there is not much gap in sales between the company's third and fourth largest customers.</p><p><img src=\"https://static.tigerbbs.com/7b1d28e7bc0109ab77f6fbdfcfb26e8f\" tg-width=\"640\" tg-height=\"213\" referrerpolicy=\"no-referrer\"></p><p>According to Century Securities,<b>Calculated according to the installed caliber,</b><b>In 2020, Tesla was the third largest customer of CATL, and by the first quarter of 2021, Tesla became the largest customer.</b><img src=\"https://static.tigerbbs.com/71035fcd7b52b58275f0aaf4030589c9\" tg-width=\"640\" tg-height=\"232\" referrerpolicy=\"no-referrer\"></p><p>The binding between the two parties has deepened, not only because Tesla has become the largest customer. More importantly, Tesla is one of the important tickets for CATL to break through the overseas power battery market.</p><p>Previously, Jiang Li, deputy general manager and secretary of the board of directors of CATL, once said,<b>The cooperation between CATL and Tesla is not limited to China. The new contract may be the beginning of the power battery cooperation between the two parties going abroad.</b></p><p>Public data shows that CATL is already in the C position in terms of installed capacity of power batteries. In 2020, the effective catalog of new energy vehicles announced by the Ministry of Industry and Information Technology has more than 6,800 models, of which CATL has more than 3,400 models equipped with power batteries, accounting for the highest proportion among all power battery manufacturers.</p><p>CATL's advantages in global power battery competition are also further expanding.</p><p>According to the latest data from SNE Research, a Korean industry research organization, in the first quarter of 2021, global electric vehicle battery energy consumption was 47.8 GWh, a year-on-year increase of 127%. The substantial growth of CATL in the first quarter was the main driving force.</p><p>Data show that in the first quarter, CATL's battery installed capacity increased by 320.8% year-on-year to 15.1 GWh, and its market share expanded again from 25% in 2020 to 31.5%. Its largest competitors LG Chem and<a href=\"https://laohu8.com/S/PC\">Panasonic</a>Panasonic's market share dropped to 20.5% and 16.7% respectively, and Panasonic's market share dropped by nearly 10 percentage points within a year.</p><p>But the heights are too cold, and CATL still needs to face many competitors at home and abroad.</p><p>Overseas, companies such as LG Chem are eyeing up; At home,<a href=\"https://laohu8.com/S/002594\">BYD</a>Already poses a threat to the Ningde era. In March last year, BYD released a blade battery based on lithium iron phosphate material, and gradually opened it from self-use to third-party car companies.</p><p>Therefore, deepening the binding with Tesla at this time may have some benefits for CATL, both in terms of the installed capacity of power batteries and further enhancing the competitiveness of domestic and overseas markets.</p><p><h2><b>\"C-position\"</b><b>Challenge</b></h2>Although it is Tesla's battery contract that puts CATL to the C position this time, this trillion-dollar company has a very solid position in the field of new energy.</p><p>As the world's leading power battery supplier, CATL not only supplies new car representatives such as Tesla, but also cooperates with traditional car companies such as Mercedes-Benz and Honda. Three domestic new car manufacturers have also chosen CATL's power batteries.</p><p>Han<a href=\"https://laohu8.com/S/600617\">National New Energy</a>According to statistics from the analysis agency SNE, CATL has ranked first in the global power battery installed volume rankings for four consecutive years. Just in 2020, the global installed capacity of CATL's power batteries was 34GWh, with a market share of nearly a quarter.</p><p>With the popularity of the new energy sector, this behind-the-scenes giant has stepped forward since last year and gained capital attention. For example, clearance in 2020<a href=\"https://laohu8.com/S/NIO\">Nio</a>Later, Hillhouse Capital turned to CATL and subscribed for a fixed increase of 10 billion yuan.</p><p>Contemporary Amperex Technology Co., Limited, whose stock price has soared, has also attracted more investor attention. On May 21, Contemporary Amperex Technology Co., Limited also received a survey of 54 people from 33 institutional investors, including large Public Offering of Fund, foreign-funded institutions, and securities firm asset management. The topics that these institutional investors are concerned about are mainly the development of solid-state batteries, the company's three major strategic directions, and the layout of the photovoltaic field.</p><p>Contemporary Amperex Technology Co., Limited is not only recognized by the outside world, but its chairman Zeng Yuqun has also repeatedly ranked at the forefront of the Forbes rich list.</p><p>As of 11:30 a.m. on June 28, the real-time list of the Forbes Rich List showed that CATL Chairman Zeng Yuqun was worth US $44.7 billion (approximately 288.8 billion yuan), ranking 30th in the world. This is his first time in the top 30 of the list.</p><p>At the beginning of May, Zeng Yuqun successfully won the title of the richest man in Hong Kong. With a net worth of $34.5 billion, he shook the list of the richest man in Hong Kong, which has been dominated by the \"Lee family\" for more than 20 years. His personal wealth once surpassed that of Lee Shau Kee ($32.1 billion) and Li Ka-shing ($34.4 billion).</p><p>At that time, Zeng Yuqun's ranking on the global rich list rose to 42nd in the world, and now he has broken through into the top 30.</p><p>Within a year, CATL went out of the circle many times and attracted much attention in the primary and secondary markets. As the first A-share technology company with a market value of trillions, how long can CATL stand in the C position?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla put CATL to the \"C position\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla put CATL to the \"C position\"\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-29 20:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/300750\">Ningde era</a>Recently, he has become a C-level leader in the new energy industry. First, because of the skyrocketing value of Chairman Zeng Yuqun, and second, because he and<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>A battery contract.</p><p>On June 28, CATL announced that the company had signed an agreement with Tesla to supply lithium-ion power battery products to Tesla from January 2022 to December 2025, that is, in the next four years. The specific purchase situation is determined by Tesla in the form of orders, and the final sales amount must be subject to the actual settlement of the purchase order issued by Tesla.</p><p>In the future, Tesla's Model 3, Model Y and other models will use battery packs from CATL.</p><p><img src=\"https://static.tigerbbs.com/a713164f29f737032b723520c810364e\" tg-width=\"600\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Affected by this news, on June 29, Contemporary Amperex Technology Co., Limited's stock price hit a new high. The intraday stock price once reached 519.60 yuan per share, and the total market value exceeded 1.2 trillion yuan. As of the close, Contemporary Amperex Technology Co., Limited's share price closed at 508.51 yuan per share, an increase of 2.96%. Become the first technology stock in A-shares to enter the trillion-dollar club.</p><p>It is worth mentioning that since last year, CATL's stock price has been like a rocket, with its total market value rising from 0.23 trillion yuan to 1.18 trillion yuan, an increase of more than 4 times.</p><p>June 29th,<a href=\"https://laohu8.com/S/601995\">CICC</a>According to the evaluation of this cooperation, CATL's agreement with Tesla is stronger than the previous cooperation. Considering that the company's downstream demand exceeded expectations, CATL's profit forecast was raised and the target price was raised by 9% to 600 yuan. CICC also raised CATL's 2021-2023 profit forecast by 10%, 25% and 8% to 11 billion yuan, 20 billion yuan and 26.7 billion yuan respectively.</p><p><a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>Recently, a research report was released saying that it maintains CATL's buy rating with a target price of 607.5 yuan. The reasons for its rating include: the strategic cooperation agreement with car companies is bound to battery production capacity, which can solve the bottleneck of battery supply and ensure that production capacity is not limited.</p><p>In addition, CICC analyst Zeng Tao and others pointed out in the report that the agreement did not stipulate the Chinese market, which means that CATL will take the opportunity to cooperate with Tesla's global market supply to accelerate its products to go global. Boosted by global demand, CATL's long-term global market share is expected to reach more than 30%.</p><p>This is another handshake between the two leading companies. For CATL, which has already reached a high market value of trillions, the deep binding with Tesla, the largest customer, is not only related to the installed battery capacity brought by this customer, but also an important ticket to break through the overseas power battery market.</p><p><h2><b>Secondary</b><b>\"Hand in Hand\"</b></h2>It is reported that in 2018, when Musk signed the Tesla Shanghai factory landing agreement, he secretly met with Zeng Yuqun, chairman of CATL, but the two parties did not reach a substantive agreement.</p><p>At the \"2019 World Artificial Intelligence Conference\", the two met again and finalized their cooperation intention in more than 40 minutes.</p><p>In February 2020, a contract truly brought together two leading companies in new car manufacturing and power batteries. At that time, Contemporary Amperex Technology Co., Limited signed the \"Production Pricing Agreement (China)\" with Tesla, and planned to supply lithium-ion power battery products to Tesla from July 2020 to June 2022.</p><p>According to this contract, CATL supplies batteries for Tesla's Model 3 produced in Shanghai. At the beginning of 2021, after Tesla launches Model Y, the scope of cooperation between the two parties is also expected to be further expanded.</p><p>On June 25 this year, on the basis of this agreement, the two parties signed the above-mentioned cooperation framework agreement \"Production Pricing Agreement\". The agreement stipulates that CATL plans to supply lithium-ion power battery products to Tesla in the next four years. Some analysts believe that the difference between the two cooperation framework agreements lies in the removal of \"China\", which indicates that this supply agreement will cover the whole world.</p><p>The further deepening of cooperation between the two sides has actually long been predicted.</p><p>On June 3, Reuters quoted people familiar with the matter as saying that CATL plans to build a new large-scale power battery factory in Shanghai to provide half of Tesla's global batteries for electric vehicles and rooftop energy storage.</p><p>There are rumors that the annual production capacity of the Shanghai factory will reach 80GWh, while CATL's existing production capacity is 69.1 GWh and 77.5 GWh of production capacity is under construction.</p><p>In addition, the \"Oolong Incident\" that occurred recently in the Ningde era is also related to Tesla. Recently, someone who claimed to be an employee of Ningde Times broke the news that Ningde Times forced manager-level employees to buy Tesla Model 3. Some employees said that the company launched a discount to buy Tesla in order to clear the \"battery problem\" Tesla inventory.</p><p>Contemporary Amperex Technology Co., Limited stated that there were no quality problems and no mandatory purchases. \"Regarding employees' purchase of Tesla, the company encourages employees to buy electric vehicles at preferential prices in order to promote comprehensive electrification. There is no mandate, nor is it limited to Tesla, including most of the brands it supplies. It is said that this activity has lasted for three years. Year, last year was during National Day.\"</p><p><h2><b>\"Binding\" deepens</b></h2>Regardless of the oolong incident, the relationship between Tesla and CATL is being further tied.</p><p>Contemporary Amperex Technology Co., Limited's 2021 Q1 financial report shows that the company's sales to the top five customers accounted for 41.08% of the current receivables, and the company's main customers are large domestic and foreign car companies. The 2020 annual report shows that there is not much gap in sales between the company's third and fourth largest customers.</p><p><img src=\"https://static.tigerbbs.com/7b1d28e7bc0109ab77f6fbdfcfb26e8f\" tg-width=\"640\" tg-height=\"213\" referrerpolicy=\"no-referrer\"></p><p>According to Century Securities,<b>Calculated according to the installed caliber,</b><b>In 2020, Tesla was the third largest customer of CATL, and by the first quarter of 2021, Tesla became the largest customer.</b><img src=\"https://static.tigerbbs.com/71035fcd7b52b58275f0aaf4030589c9\" tg-width=\"640\" tg-height=\"232\" referrerpolicy=\"no-referrer\"></p><p>The binding between the two parties has deepened, not only because Tesla has become the largest customer. More importantly, Tesla is one of the important tickets for CATL to break through the overseas power battery market.</p><p>Previously, Jiang Li, deputy general manager and secretary of the board of directors of CATL, once said,<b>The cooperation between CATL and Tesla is not limited to China. The new contract may be the beginning of the power battery cooperation between the two parties going abroad.</b></p><p>Public data shows that CATL is already in the C position in terms of installed capacity of power batteries. In 2020, the effective catalog of new energy vehicles announced by the Ministry of Industry and Information Technology has more than 6,800 models, of which CATL has more than 3,400 models equipped with power batteries, accounting for the highest proportion among all power battery manufacturers.</p><p>CATL's advantages in global power battery competition are also further expanding.</p><p>According to the latest data from SNE Research, a Korean industry research organization, in the first quarter of 2021, global electric vehicle battery energy consumption was 47.8 GWh, a year-on-year increase of 127%. The substantial growth of CATL in the first quarter was the main driving force.</p><p>Data show that in the first quarter, CATL's battery installed capacity increased by 320.8% year-on-year to 15.1 GWh, and its market share expanded again from 25% in 2020 to 31.5%. Its largest competitors LG Chem and<a href=\"https://laohu8.com/S/PC\">Panasonic</a>Panasonic's market share dropped to 20.5% and 16.7% respectively, and Panasonic's market share dropped by nearly 10 percentage points within a year.</p><p>But the heights are too cold, and CATL still needs to face many competitors at home and abroad.</p><p>Overseas, companies such as LG Chem are eyeing up; At home,<a href=\"https://laohu8.com/S/002594\">BYD</a>Already poses a threat to the Ningde era. In March last year, BYD released a blade battery based on lithium iron phosphate material, and gradually opened it from self-use to third-party car companies.</p><p>Therefore, deepening the binding with Tesla at this time may have some benefits for CATL, both in terms of the installed capacity of power batteries and further enhancing the competitiveness of domestic and overseas markets.</p><p><h2><b>\"C-position\"</b><b>Challenge</b></h2>Although it is Tesla's battery contract that puts CATL to the C position this time, this trillion-dollar company has a very solid position in the field of new energy.</p><p>As the world's leading power battery supplier, CATL not only supplies new car representatives such as Tesla, but also cooperates with traditional car companies such as Mercedes-Benz and Honda. Three domestic new car manufacturers have also chosen CATL's power batteries.</p><p>Han<a href=\"https://laohu8.com/S/600617\">National New Energy</a>According to statistics from the analysis agency SNE, CATL has ranked first in the global power battery installed volume rankings for four consecutive years. Just in 2020, the global installed capacity of CATL's power batteries was 34GWh, with a market share of nearly a quarter.</p><p>With the popularity of the new energy sector, this behind-the-scenes giant has stepped forward since last year and gained capital attention. For example, clearance in 2020<a href=\"https://laohu8.com/S/NIO\">Nio</a>Later, Hillhouse Capital turned to CATL and subscribed for a fixed increase of 10 billion yuan.</p><p>Contemporary Amperex Technology Co., Limited, whose stock price has soared, has also attracted more investor attention. On May 21, Contemporary Amperex Technology Co., Limited also received a survey of 54 people from 33 institutional investors, including large Public Offering of Fund, foreign-funded institutions, and securities firm asset management. The topics that these institutional investors are concerned about are mainly the development of solid-state batteries, the company's three major strategic directions, and the layout of the photovoltaic field.</p><p>Contemporary Amperex Technology Co., Limited is not only recognized by the outside world, but its chairman Zeng Yuqun has also repeatedly ranked at the forefront of the Forbes rich list.</p><p>As of 11:30 a.m. on June 28, the real-time list of the Forbes Rich List showed that CATL Chairman Zeng Yuqun was worth US $44.7 billion (approximately 288.8 billion yuan), ranking 30th in the world. This is his first time in the top 30 of the list.</p><p>At the beginning of May, Zeng Yuqun successfully won the title of the richest man in Hong Kong. With a net worth of $34.5 billion, he shook the list of the richest man in Hong Kong, which has been dominated by the \"Lee family\" for more than 20 years. His personal wealth once surpassed that of Lee Shau Kee ($32.1 billion) and Li Ka-shing ($34.4 billion).</p><p>At that time, Zeng Yuqun's ranking on the global rich list rose to 42nd in the world, and now he has broken through into the top 30.</p><p>Within a year, CATL went out of the circle many times and attracted much attention in the primary and secondary markets. As the first A-share technology company with a market value of trillions, how long can CATL stand in the C position?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3634141\">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/983e0432c72ee1117f6c5b8a19ed6e25","relate_stocks":{"300750":"宁德时代","TSLA":"特斯拉"},"source_url":"https://wallstreetcn.com/articles/3634141","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147863759","content_text":"宁德时代最近成为新能源界的C位担当，一是因为董事长曾毓群暴涨的身价，二是因为和特斯拉的一纸电池合约。\n6月28日，宁德时代发布公告称，公司已与特斯拉签订协议，将在2022年1月至2025年12月期间，也就是未来四年，向特斯拉供应锂离子动力电池产品。具体的采购情况特斯拉以订单方式确定，最终销售金额须以特斯拉发出的采购订单实际结算为准。\n未来，特斯拉旗下的Model 3、Model Y等车型将会使用来自宁德时代的电池组。\n\n受此消息影响，6月29日，宁德时代股价再创新高，盘中股价一度达到519.60元/股，总市值突破1.2万亿元。截至收盘，宁德时代股价报收508.51元/股，涨幅达2.96%。成为A股中第一家跨进万亿俱乐部的科技股。\n值得一提的是，自去年以来，宁德时代的股价如同坐上火箭，总市值由0.23万亿元上涨至1.18万亿元，涨幅超过4倍。\n6月29日，中金公司对此合作评价称，宁德时代此次与特斯拉的协议较之前合作力度更大，考虑到公司下游需求超预期，上调宁德时代的盈利预测，并将目标价调升9%至600元人民币。中金还上调了宁德时代2021-2023年的盈利预测10%、25%和8%，分别至110亿元、200亿元和267亿元。\n东吴证券近日发布研报称，维持宁德时代买入评级，目标价格为607.5元。其评级理由就包括：与车企的战略合作协议系绑定电池产能，能解决电池供应瓶颈，确保产能不受限。\n另外，中金分析师曾韬等在报告中指出，此次协议未约定中国市场，意味着宁德时代将以配合特斯拉全球市场供应为契机，推动产品加速走向全球。全球需求提振下，宁德时代远期全球市场份额有望达到30%以上。\n这是两家头部企业的再次握手。对于已经站上万亿市值高位的宁德时代而言，与第一大客户特斯拉的深度捆绑，不仅关乎该客户带来的电池装机量，更是一张突围海外动力电池市场的重要门票。\n二次“牵手”\n据悉，2018年，马斯克在签署特斯拉上海工厂落地协议时，曾秘密会见宁德时代董事长曾毓群，不过双方未达成实质性协议。\n在“2019世界人工智能大会”上，二人再度会面，用40多分钟敲定了合作意向。\n2020年2月，一份合约让新造车和动力电池的两家头部企业真正走到一起。彼时，宁德时代与特斯拉签订《Production Pricing Agreement (China)》，拟于2020年7月至2022年6月期间向特斯拉供应锂离子动力电池产品。\n据此合约，宁德时代为特斯拉在上海生产的Model 3供应电池。2021年初，特斯拉推出Model Y后，双方的合作范围也有望进一步扩大。\n今年6月25日，在该协议的基础上，双方又签订了上文提及的合作框架协议《Production Pricing Agreement》。协议约定宁德时代计划在未来四年向特斯拉供应锂离子动力电池产品。有分析认为，前后两份合作框架协议的区别在于去掉了“China”，预示着本次供货协议将覆盖全球。\n双方的合作进一步深入，其实早就有预示。\n6月3日，路透社援引知情人士消息称，宁德时代计划在上海新建一家大型动力电池厂，提供特斯拉在全球范围内一半用于电动汽车和屋顶储能的电池。\n有传言称，上海工厂年产能将达到80GWh，而宁德时代现有产能为69.1GWh，并有77.5GWh产能在建中。\n另外，宁德时代日前发生的“乌龙事件”也与特斯拉有关。近日，有自称是宁德时代员工的人员爆料，宁德时代强制经理级别员工购买特斯拉Model 3，有员工称公司推出购买特斯拉的优惠活动，是为了清掉“电池有问题”的特斯拉库存。\n宁德时代则表示，没有质量问题，也没有强制购买。“关于员工购买特斯拉是公司为推行全面电动化，以优惠价格鼓励员工购买电动车，没有强制，也不限于特斯拉，包括其大部分供货的品牌。称此活动已持续三年，去年是在国庆节期间。”\n“绑定”加深\n不论乌龙事件如何，特斯拉和宁德时代的关系都在进一步绑定。\n宁德时代2021年Q1财报显示，公司面向前五大客户的销售金额占当期应收比例为41.08%，公司主要客户为大型境内外车企。2020年年报显示，公司面对第三和第四大客户的销售额差距不大。\n\n而据世纪证券，按装机口径计算， 2020年特斯拉为宁德时代第三大客户，而到2021年第一季度，特斯拉一跃成为最大客户 。\n双方的绑定加深，不仅在于特斯拉跃升为最大客户。更关键的是特斯拉是宁德时代突围海外动力电池市场的重要门票之一。\n此前，宁德时代副总经理、董事会秘书蒋理曾表示，宁德时代与特斯拉的合作不局限于国内。新合约或许就是双方的动力电池合作走出国门的开始。\n公开数据表明，宁德时代在动力电池装机量上已经处于C位。2020年工信部公布的新能源车型有效目录共有6800多款车型，其中宁德时代配套动力电池的有3400多款，在全部动力电池厂商中占比最高。\n宁德时代在全球动力电池竞争中的优势也在进一步扩大。\n据韩国行业调研机构SNE Research最新数据，2021年第一季度，全球电动车电池能耗为47.8 GWh，同比增长127%，宁德时代一季度的大幅增长为主要推动力。\n数据显示，第一季度，宁德时代电池装机量同比增长320.8%至15.1 GWh，市占率从2020年全年的25%再度扩大至31.5%，而其最大竞争对手LG化学以及松下的市占率则分别下降至20.5%和16.7%，松下市占率一年内下降近10个百分点。\n但高处不胜寒，宁德时代仍然需要面对海内外不少竞争对手。\n在海外，有LG化学等企业虎视眈眈；在国内，比亚迪已经对宁德时代构成了威胁。去年3月，比亚迪发布了基于磷酸铁锂材料的刀片电池，并逐渐从自用开放给第三方车企。\n因而，此时与特斯拉加深绑定，对宁德时代而言，无论是对动力电池装机量，还是进一步提升海内外市场竞争力，或许都存在一些好处。\n“C位”挑战\n虽然本次是特斯拉的电池合约将宁德时代送上C位，但这家万亿市值的公司，在新能源领域的地位已经十分稳固。\n作为全球头部动力电池供应商，宁德时代不仅为特斯拉等新造车代表供货，还与奔驰、本田等传统车企合作。国内新造车三家企业也选择了宁德时代的动力电池。\n韩国新能源分析机构SNE统计称，宁德时代已连续四年在全球动力电池装车量排名中居于首位。就在2020年，宁德时代动力电池的全球装车量为34GWh，市场份额接近四分之一。\n随着新能源板块的火爆，这家幕后巨头从去年开始走向台前，获得资本关注。例如，在2020年清仓蔚来后，高瓴资本就转而重仓宁德时代，认购了100亿元的定增。\n股价飙升的宁德时代，也受到更多投资者的关注。5月21日，宁德时代还接待了33家机构投资者共54人的调研，其中包括大型公募基金、外资机构以及券商资管等。这些机构投资者们关心的话题，主要在固态电池发展、公司三大战略方向以及光伏领域的布局等方面。\n被外界认知的不止有宁德时代，其董事长曾毓群也屡次跻身福布斯富豪榜的前列。\n截至6月28日上午11点半，福布斯富豪榜的实时榜单显示，宁德时代董事长曾毓群身价达到447亿美元（约合2888亿元人民币），位列全球第30位。这是他首次进入榜单前30名。\n而就在5月初，曾毓群成功问鼎香港首富。他以345亿美元的身价，动摇了被“李氏家族”霸榜20余年的香港首富榜，个人财富一度超过李兆基（321亿美元）和李嘉诚（344亿美元）。\n彼时，曾毓群在全球富豪榜上的排名升至全球第42名，而今他已经突围进前30名。\n一年之内，宁德时代多次出圈，在一、二级市场备受关注。作为A股第一家万亿市值的科技公司，宁德时代在C位上又能矗立多久？","news_type":1,"symbols_score_info":{"300750":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1940,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159278430,"gmtCreate":1624972770820,"gmtModify":1703849121165,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159278430","repostId":"1162626672","repostType":4,"repost":{"id":"1162626672","kind":"news","pubTimestamp":1624950782,"share":"https://ttm.financial/m/news/1162626672?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:13","market":"us","language":"zh","title":"Buffett summed up 8 valuable experiences and lessons from the epidemic","url":"https://stock-news.laohu8.com/highlight/detail?id=1162626672","media":"智通财经 ","summary":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教","content":"<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Despite giving billions of dollars to charity, Buffett's net worth surpassed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01New investment? Leveraging the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments-one that turned out to be a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have recommended it to people for a long time,\" Buffett said, adding that 90% of the money he left to his wife would go into the S&P 500 after his death.</p><p>The S&P 500 Index Fund is a mutual fund or ETF that mimics the familiar stock index that tracks the 500 largest companies in the United States. Despite the outbreak, the S&P 500 soared 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings about Berkshire, they should buy the S&P 500,\" Buffett said at a shareholder meeting in Los Angeles.</p><p>02 Be practical-even when the market loses its mind</p><p>Buffett recommends investors a long-term and practical approach, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in '89 are from the 2021 edition. The lesson is this: things are fickle, and picking winners isn't easy.</p><p>\"If you only hold diversified stocks, like U.S. stocks, that would be my preference, but for more than 30 years,\" he said.</p><p>03 Don't expect pensions</p><p>One of the more alarming trends Buffett delved into at the Berkshire Hathaway conference, the increasingly precarious status of many state pension funds, is an issue he says he has been following since 2013.</p><p>\"Pensions are terrible in a lot of states,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed states' finances and has only exacerbated the current pension problem that has no long-term solution. Before the pandemic began, the state pension scheme was already short of $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis has devastated the entire aviation industry, yet airlines have survived with the help of the government. But without that support, you're looking at a whole new air crash. The industry still has many months to go before it wants to return to normal business (and normal profit margins).</p><p>\"I still don't want to buy airlines,\" Buffett told his Berkshire shareholders.</p><p>Delta Air Lines (DAL), one of the airlines Berkshire dumped from its portfolio, saw its shares fall by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett doesn't have much confidence in the airline industry's economic fundamentals.</p><p>05 Stick to your long-term plan</p><p>Stick to your financial goals, Buffett said. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the U.S., but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways.\"</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. At the Berkshire conference, he was even reminded that he once said it was \"too short\" to hold a stock forever.</p><p>06 Make the Most of Low Interest Rates</p><p>With interest rates falling, Buffett says now is a good time to borrow money.</p><p>With the Fed's commitment to keep key interest rates near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low-rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"It's been revived in a very effective way through the actions of the Fed.\"</p><p>07 Avoid Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a great survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's online shareholder meeting in 2020, he recalled the advice he gave to a friend who had a windfall and was thinking about the smartest way to spend. She told Buffett that she also has credit card debt-18% interest.</p><p>Buffett remembers saying to her, \"If I had 18% debt, the first thing I would do with the money I had on hand would be to pay it off.\" \"You can't borrow money at that rate all your life and get better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett said that a \"catastrophe\" is coming. Calling Buffett an \"oracle\" is not for nothing. In 2019, he warned of a \"mega-catastrophe\" for the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the United States, Buffett said in an interview, \"I always felt that a pandemic would happen sooner or later.\"</p><p>You'd think someone who has invested so much in the insurance industry would have the foresight-Berkshire owns Geico and several other insurers-that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happen in the world over the last 15 months,\" he told his investors this year. \"And we're always aware of stranger things going to happen in the future.\"</p>","source":"stock_zhitongcaijing","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>Buffett summed up 8 valuable experiences and lessons from the epidemic</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\">\nBuffett summed up 8 valuable experiences and lessons from the epidemic\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经 </strong><span class=\"h-time small\">2021-06-29 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Despite giving billions of dollars to charity, Buffett's net worth surpassed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01New investment? Leveraging the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments-one that turned out to be a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have recommended it to people for a long time,\" Buffett said, adding that 90% of the money he left to his wife would go into the S&P 500 after his death.</p><p>The S&P 500 Index Fund is a mutual fund or ETF that mimics the familiar stock index that tracks the 500 largest companies in the United States. Despite the outbreak, the S&P 500 soared 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings about Berkshire, they should buy the S&P 500,\" Buffett said at a shareholder meeting in Los Angeles.</p><p>02 Be practical-even when the market loses its mind</p><p>Buffett recommends investors a long-term and practical approach, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in '89 are from the 2021 edition. The lesson is this: things are fickle, and picking winners isn't easy.</p><p>\"If you only hold diversified stocks, like U.S. stocks, that would be my preference, but for more than 30 years,\" he said.</p><p>03 Don't expect pensions</p><p>One of the more alarming trends Buffett delved into at the Berkshire Hathaway conference, the increasingly precarious status of many state pension funds, is an issue he says he has been following since 2013.</p><p>\"Pensions are terrible in a lot of states,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed states' finances and has only exacerbated the current pension problem that has no long-term solution. Before the pandemic began, the state pension scheme was already short of $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis has devastated the entire aviation industry, yet airlines have survived with the help of the government. But without that support, you're looking at a whole new air crash. The industry still has many months to go before it wants to return to normal business (and normal profit margins).</p><p>\"I still don't want to buy airlines,\" Buffett told his Berkshire shareholders.</p><p>Delta Air Lines (DAL), one of the airlines Berkshire dumped from its portfolio, saw its shares fall by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett doesn't have much confidence in the airline industry's economic fundamentals.</p><p>05 Stick to your long-term plan</p><p>Stick to your financial goals, Buffett said. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the U.S., but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways.\"</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. At the Berkshire conference, he was even reminded that he once said it was \"too short\" to hold a stock forever.</p><p>06 Make the Most of Low Interest Rates</p><p>With interest rates falling, Buffett says now is a good time to borrow money.</p><p>With the Fed's commitment to keep key interest rates near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low-rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"It's been revived in a very effective way through the actions of the Fed.\"</p><p>07 Avoid Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a great survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's online shareholder meeting in 2020, he recalled the advice he gave to a friend who had a windfall and was thinking about the smartest way to spend. She told Buffett that she also has credit card debt-18% interest.</p><p>Buffett remembers saying to her, \"If I had 18% debt, the first thing I would do with the money I had on hand would be to pay it off.\" \"You can't borrow money at that rate all your life and get better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett said that a \"catastrophe\" is coming. Calling Buffett an \"oracle\" is not for nothing. In 2019, he warned of a \"mega-catastrophe\" for the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the United States, Buffett said in an interview, \"I always felt that a pandemic would happen sooner or later.\"</p><p>You'd think someone who has invested so much in the insurance industry would have the foresight-Berkshire owns Geico and several other insurers-that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happen in the world over the last 15 months,\" he told his investors this year. \"And we're always aware of stranger things going to happen in the future.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/503261.html\">智通财经 </a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.A":"伯克希尔"},"source_url":"https://www.zhitongcaijing.com/content/detail/503261.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162626672","content_text":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教训。\n01  新投资吗?利用标普500\n在上个月伯克希尔哈撒韦公司的年会上，巴菲特谈到了他最喜欢的一项投资——该投资在疫情期间成为赢家。\n巴菲特说:“我推荐标普500指数基金，并且长期以来一直向人们推荐。”他还说，在他去世后，他留给妻子的90%的钱将进入标普500基金。\n标普500指数基金是模仿人们熟悉的跟踪美国500家最大公司的股票指数的共同基金或ETF。尽管疫情爆发，标普500指数在2020年飙升16%，并在2021年创下新高。\n巴菲特在洛杉矶的股东大会上表示:“我喜欢伯克希尔，但我认为一个对股票一无所知，对伯克希尔没有任何特殊感觉的人，他们应该购买标普500指数。”\n02  要实际——即使在市场失去理智的时候\n巴菲特建议投资者长期且实际的方法，而不是“每天进行30或40笔交易。”\n在会议期间，巴菲特展示了两张幻灯片，展示了当今和1989年全球市值最大的20家公司。89年上榜的公司没有一家是2021年版的。教训是:世事无常，挑选赢家并不容易。\n\"如果你只持有多元化的股票，比如美国股票，那将是我的偏好，但要持有超过30年，\"他说。\n03  不要指望养老金\n巴菲特在伯克希尔哈撒韦公司的会议上深入研究的一个更令人担忧的趋势，许多州养老基金的地位越来越不稳定，他说他从2013年就开始关注这个问题。\n巴菲特说:“很多州的养老金状况都很糟糕。”“情况并没有好转。显然，情况一点也没有好转。”\n疫情已经扼杀了各州的财政，只会加剧目前没有长期解决方案的养老金问题。Pew Charitable Trusts的数据显示，在大流行开始之前，国家养老金计划已经缺乏1万亿美元的资金来满足未来对退休人员的义务。\n04  投资者应该对某些投资保持警惕\n巴菲特因为COVID-19的原因抛售了航空股。\n疫情危机摧毁了整个航空行业，然而航空公司在政府的帮助下幸存下来。但如果没有这种支持，你会看到一场全新的空难。要想恢复正常的业务(以及正常的利润率)，该行业还有好几个月的时间。\n“我还是不想买航空公司，”巴菲特告诉他的伯克希尔股东。\n达美航空(DAL)是伯克希尔从其投资组合中抛售的航空公司之一，该公司股价在去年3月1日至5月15日期间下跌了一半以上。此后，该股和美国其他主要航空公司的股价都有所回升，但巴菲特对航空业的经济基本面没有多大信心。\n05  坚持你的长期计划\n巴菲特说，要坚持你的财务目标。巴菲特仍然相信，美国经济将从COVID - 19危机中反弹，但他告诉股东，未来远非确定。\n“你可以押注美国，但你必须小心如何押注，”他说。他后来重申，世界可以以“非常、非常戏剧性的方式”发生变化。\n巴菲特从来没有动摇过他的信念，长期持有股票是一个稳定的财务未来的正确投资策略。在伯克希尔的会议上，他甚至被提醒说，他曾经说过永远持有一只股票“太短了”。\n06  充分利用低利率\n随着利率的下降，巴菲特说现在是借钱的好时机。\n由于美联储承诺将关键利率维持在接近零的水平，巴菲特认为2021年借款人将有极好的机会。\n“这是一个迷人的时代，”巴菲特告诉投资者，并补充说低利率环境“非常令人愉快”。\n“经济在2020年3月跌落悬崖，”巴菲特说。“通过美联储的行动，它以一种非常有效的方式复活了。”\n07  避免信用卡债务\n巴菲特说，如果你有信用卡债务，那就摆脱它。\n疫情导致企业关闭和裁员，迫使数百万美国人依靠信用卡来满足基本的金融需求。这是一个很好的生存策略，但由此产生的平衡和高利率会造成长期的财务压力。\n在伯克希尔2020年的在线股东大会上，他回忆了自己给一位获得意外之财的朋友的建议，这位朋友当时正在考虑最明智的消费方式。她告诉巴菲特，她还有信用卡债务——利息为18%。\n巴菲特记得对她说:“如果我有18%的债务，我会用手头的钱做的第一件事就是还清。”“你不可能一辈子都以这样的利率借钱，然后过得更好。”\n08  总是做最坏打算\n巴菲特说，一场“大灾难”即将来临。称巴菲特为“神谕”不是没有原因的。2019年，他警告说，世界将迎来一场“特大灾难”，这将使卡特里娜飓风和迈克尔飓风造成的混乱相形见绌。\n当疫情首次袭击美国时，巴菲特在一次采访中说，“我一直觉得一场大流行迟早会发生。”\n你可能会认为，在保险业投入如此之多的人会有这样的远见——伯克希尔哈撒韦拥有Geico和其他几家保险公司——为最坏的情况做准备是商业模式的核心部分。\n“过去15个月里，我们看到世界上发生了一些奇怪的事情，”他今年告诉他的投资者。“而且我们总是意识到未来会发生更奇怪的事情。”","news_type":1,"symbols_score_info":{"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":2286,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159270215,"gmtCreate":1624972578837,"gmtModify":1703849115443,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159270215","repostId":"1162626672","repostType":4,"repost":{"id":"1162626672","kind":"news","pubTimestamp":1624950782,"share":"https://ttm.financial/m/news/1162626672?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:13","market":"us","language":"zh","title":"Buffett summed up 8 valuable experiences and lessons from the epidemic","url":"https://stock-news.laohu8.com/highlight/detail?id=1162626672","media":"智通财经 ","summary":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教","content":"<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Despite giving billions of dollars to charity, Buffett's net worth surpassed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01New investment? Leveraging the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments-one that turned out to be a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have recommended it to people for a long time,\" Buffett said, adding that 90% of the money he left to his wife would go into the S&P 500 after his death.</p><p>The S&P 500 Index Fund is a mutual fund or ETF that mimics the familiar stock index that tracks the 500 largest companies in the United States. Despite the outbreak, the S&P 500 soared 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings about Berkshire, they should buy the S&P 500,\" Buffett said at a shareholder meeting in Los Angeles.</p><p>02 Be practical-even when the market loses its mind</p><p>Buffett recommends investors a long-term and practical approach, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in '89 are from the 2021 edition. The lesson is this: things are fickle, and picking winners isn't easy.</p><p>\"If you only hold diversified stocks, like U.S. stocks, that would be my preference, but for more than 30 years,\" he said.</p><p>03 Don't expect pensions</p><p>One of the more alarming trends Buffett delved into at the Berkshire Hathaway conference, the increasingly precarious status of many state pension funds, is an issue he says he has been following since 2013.</p><p>\"Pensions are terrible in a lot of states,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed states' finances and has only exacerbated the current pension problem that has no long-term solution. Before the pandemic began, the state pension scheme was already short of $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis has devastated the entire aviation industry, yet airlines have survived with the help of the government. But without that support, you're looking at a whole new air crash. The industry still has many months to go before it wants to return to normal business (and normal profit margins).</p><p>\"I still don't want to buy airlines,\" Buffett told his Berkshire shareholders.</p><p>Delta Air Lines (DAL), one of the airlines Berkshire dumped from its portfolio, saw its shares fall by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett doesn't have much confidence in the airline industry's economic fundamentals.</p><p>05 Stick to your long-term plan</p><p>Stick to your financial goals, Buffett said. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the U.S., but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways.\"</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. At the Berkshire conference, he was even reminded that he once said it was \"too short\" to hold a stock forever.</p><p>06 Make the Most of Low Interest Rates</p><p>With interest rates falling, Buffett says now is a good time to borrow money.</p><p>With the Fed's commitment to keep key interest rates near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low-rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"It's been revived in a very effective way through the actions of the Fed.\"</p><p>07 Avoid Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a great survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's online shareholder meeting in 2020, he recalled the advice he gave to a friend who had a windfall and was thinking about the smartest way to spend. She told Buffett that she also has credit card debt-18% interest.</p><p>Buffett remembers saying to her, \"If I had 18% debt, the first thing I would do with the money I had on hand would be to pay it off.\" \"You can't borrow money at that rate all your life and get better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett said that a \"catastrophe\" is coming. Calling Buffett an \"oracle\" is not for nothing. In 2019, he warned of a \"mega-catastrophe\" for the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the United States, Buffett said in an interview, \"I always felt that a pandemic would happen sooner or later.\"</p><p>You'd think someone who has invested so much in the insurance industry would have the foresight-Berkshire owns Geico and several other insurers-that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happen in the world over the last 15 months,\" he told his investors this year. \"And we're always aware of stranger things going to happen in the future.\"</p>","source":"stock_zhitongcaijing","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>Buffett summed up 8 valuable experiences and lessons from the epidemic</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\">\nBuffett summed up 8 valuable experiences and lessons from the epidemic\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经 </strong><span class=\"h-time small\">2021-06-29 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Despite giving billions of dollars to charity, Buffett's net worth surpassed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01New investment? Leveraging the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments-one that turned out to be a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have recommended it to people for a long time,\" Buffett said, adding that 90% of the money he left to his wife would go into the S&P 500 after his death.</p><p>The S&P 500 Index Fund is a mutual fund or ETF that mimics the familiar stock index that tracks the 500 largest companies in the United States. Despite the outbreak, the S&P 500 soared 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings about Berkshire, they should buy the S&P 500,\" Buffett said at a shareholder meeting in Los Angeles.</p><p>02 Be practical-even when the market loses its mind</p><p>Buffett recommends investors a long-term and practical approach, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in '89 are from the 2021 edition. The lesson is this: things are fickle, and picking winners isn't easy.</p><p>\"If you only hold diversified stocks, like U.S. stocks, that would be my preference, but for more than 30 years,\" he said.</p><p>03 Don't expect pensions</p><p>One of the more alarming trends Buffett delved into at the Berkshire Hathaway conference, the increasingly precarious status of many state pension funds, is an issue he says he has been following since 2013.</p><p>\"Pensions are terrible in a lot of states,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed states' finances and has only exacerbated the current pension problem that has no long-term solution. Before the pandemic began, the state pension scheme was already short of $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis has devastated the entire aviation industry, yet airlines have survived with the help of the government. But without that support, you're looking at a whole new air crash. The industry still has many months to go before it wants to return to normal business (and normal profit margins).</p><p>\"I still don't want to buy airlines,\" Buffett told his Berkshire shareholders.</p><p>Delta Air Lines (DAL), one of the airlines Berkshire dumped from its portfolio, saw its shares fall by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett doesn't have much confidence in the airline industry's economic fundamentals.</p><p>05 Stick to your long-term plan</p><p>Stick to your financial goals, Buffett said. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the U.S., but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways.\"</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. At the Berkshire conference, he was even reminded that he once said it was \"too short\" to hold a stock forever.</p><p>06 Make the Most of Low Interest Rates</p><p>With interest rates falling, Buffett says now is a good time to borrow money.</p><p>With the Fed's commitment to keep key interest rates near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low-rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"It's been revived in a very effective way through the actions of the Fed.\"</p><p>07 Avoid Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a great survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's online shareholder meeting in 2020, he recalled the advice he gave to a friend who had a windfall and was thinking about the smartest way to spend. She told Buffett that she also has credit card debt-18% interest.</p><p>Buffett remembers saying to her, \"If I had 18% debt, the first thing I would do with the money I had on hand would be to pay it off.\" \"You can't borrow money at that rate all your life and get better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett said that a \"catastrophe\" is coming. Calling Buffett an \"oracle\" is not for nothing. In 2019, he warned of a \"mega-catastrophe\" for the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the United States, Buffett said in an interview, \"I always felt that a pandemic would happen sooner or later.\"</p><p>You'd think someone who has invested so much in the insurance industry would have the foresight-Berkshire owns Geico and several other insurers-that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happen in the world over the last 15 months,\" he told his investors this year. \"And we're always aware of stranger things going to happen in the future.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/503261.html\">智通财经 </a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.A":"伯克希尔"},"source_url":"https://www.zhitongcaijing.com/content/detail/503261.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162626672","content_text":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教训。\n01  新投资吗?利用标普500\n在上个月伯克希尔哈撒韦公司的年会上，巴菲特谈到了他最喜欢的一项投资——该投资在疫情期间成为赢家。\n巴菲特说:“我推荐标普500指数基金，并且长期以来一直向人们推荐。”他还说，在他去世后，他留给妻子的90%的钱将进入标普500基金。\n标普500指数基金是模仿人们熟悉的跟踪美国500家最大公司的股票指数的共同基金或ETF。尽管疫情爆发，标普500指数在2020年飙升16%，并在2021年创下新高。\n巴菲特在洛杉矶的股东大会上表示:“我喜欢伯克希尔，但我认为一个对股票一无所知，对伯克希尔没有任何特殊感觉的人，他们应该购买标普500指数。”\n02  要实际——即使在市场失去理智的时候\n巴菲特建议投资者长期且实际的方法，而不是“每天进行30或40笔交易。”\n在会议期间，巴菲特展示了两张幻灯片，展示了当今和1989年全球市值最大的20家公司。89年上榜的公司没有一家是2021年版的。教训是:世事无常，挑选赢家并不容易。\n\"如果你只持有多元化的股票，比如美国股票，那将是我的偏好，但要持有超过30年，\"他说。\n03  不要指望养老金\n巴菲特在伯克希尔哈撒韦公司的会议上深入研究的一个更令人担忧的趋势，许多州养老基金的地位越来越不稳定，他说他从2013年就开始关注这个问题。\n巴菲特说:“很多州的养老金状况都很糟糕。”“情况并没有好转。显然，情况一点也没有好转。”\n疫情已经扼杀了各州的财政，只会加剧目前没有长期解决方案的养老金问题。Pew Charitable Trusts的数据显示，在大流行开始之前，国家养老金计划已经缺乏1万亿美元的资金来满足未来对退休人员的义务。\n04  投资者应该对某些投资保持警惕\n巴菲特因为COVID-19的原因抛售了航空股。\n疫情危机摧毁了整个航空行业，然而航空公司在政府的帮助下幸存下来。但如果没有这种支持，你会看到一场全新的空难。要想恢复正常的业务(以及正常的利润率)，该行业还有好几个月的时间。\n“我还是不想买航空公司，”巴菲特告诉他的伯克希尔股东。\n达美航空(DAL)是伯克希尔从其投资组合中抛售的航空公司之一，该公司股价在去年3月1日至5月15日期间下跌了一半以上。此后，该股和美国其他主要航空公司的股价都有所回升，但巴菲特对航空业的经济基本面没有多大信心。\n05  坚持你的长期计划\n巴菲特说，要坚持你的财务目标。巴菲特仍然相信，美国经济将从COVID - 19危机中反弹，但他告诉股东，未来远非确定。\n“你可以押注美国，但你必须小心如何押注，”他说。他后来重申，世界可以以“非常、非常戏剧性的方式”发生变化。\n巴菲特从来没有动摇过他的信念，长期持有股票是一个稳定的财务未来的正确投资策略。在伯克希尔的会议上，他甚至被提醒说，他曾经说过永远持有一只股票“太短了”。\n06  充分利用低利率\n随着利率的下降，巴菲特说现在是借钱的好时机。\n由于美联储承诺将关键利率维持在接近零的水平，巴菲特认为2021年借款人将有极好的机会。\n“这是一个迷人的时代，”巴菲特告诉投资者，并补充说低利率环境“非常令人愉快”。\n“经济在2020年3月跌落悬崖，”巴菲特说。“通过美联储的行动，它以一种非常有效的方式复活了。”\n07  避免信用卡债务\n巴菲特说，如果你有信用卡债务，那就摆脱它。\n疫情导致企业关闭和裁员，迫使数百万美国人依靠信用卡来满足基本的金融需求。这是一个很好的生存策略，但由此产生的平衡和高利率会造成长期的财务压力。\n在伯克希尔2020年的在线股东大会上，他回忆了自己给一位获得意外之财的朋友的建议，这位朋友当时正在考虑最明智的消费方式。她告诉巴菲特，她还有信用卡债务——利息为18%。\n巴菲特记得对她说:“如果我有18%的债务，我会用手头的钱做的第一件事就是还清。”“你不可能一辈子都以这样的利率借钱，然后过得更好。”\n08  总是做最坏打算\n巴菲特说，一场“大灾难”即将来临。称巴菲特为“神谕”不是没有原因的。2019年，他警告说，世界将迎来一场“特大灾难”，这将使卡特里娜飓风和迈克尔飓风造成的混乱相形见绌。\n当疫情首次袭击美国时，巴菲特在一次采访中说，“我一直觉得一场大流行迟早会发生。”\n你可能会认为，在保险业投入如此之多的人会有这样的远见——伯克希尔哈撒韦拥有Geico和其他几家保险公司——为最坏的情况做准备是商业模式的核心部分。\n“过去15个月里，我们看到世界上发生了一些奇怪的事情，”他今年告诉他的投资者。“而且我们总是意识到未来会发生更奇怪的事情。”","news_type":1,"symbols_score_info":{"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":696,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150928799,"gmtCreate":1624883694111,"gmtModify":1703846941946,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150928799","repostId":"1197538485","repostType":4,"isVote":1,"tweetType":1,"viewCount":918,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150928350,"gmtCreate":1624883674570,"gmtModify":1703846940978,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150928350","repostId":"1173690181","repostType":4,"repost":{"id":"1173690181","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624855957,"share":"https://ttm.financial/m/news/1173690181?lang=en_US&edition=fundamental","pubTime":"2021-06-28 12:52","market":"us","language":"zh","title":"Morgan Stanley warns: Any strong U.S. economic data will hit markets","url":"https://stock-news.laohu8.com/highlight/detail?id=1173690181","media":"华尔街见闻","summary":"摩根士丹利认为，市场对于平均通胀目标框架的信心已经出现下降，更强劲的经济数据可能会加剧美联储的鹰派倾向，美联储缩减购债规模的步伐和预计的加息步伐是市场面临的最大风险。\n“五年来最重要”的政策会议过后，","content":"<p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It is believed that the market's confidence in the average inflation target framework has declined, stronger economic data may exacerbate the Fed's hawkish tendency, and the pace of the Fed's tapering of bond purchases and the expected pace of rate hike are the biggest risks facing the market.</p><p>After the \"most important\" policy meeting in five years, although the Federal Reserve did not mention tapering QE, it released a signal that it is more likely to rate hike more than once two years later, that is, in 2023.</p><p>Morgan Stanley saw that although the sharp selling wave in broad risk markets has reversed after the meeting, the uncertainty released by the meeting has not changed. Any real or expected policy changes in the future of the Federal Reserve may exacerbate market uncertainty.</p><p>In this environment, Morgan Stanley believes that,<b>The impact of upcoming U.S. employment and inflation data on the market will be amplified, and stronger economic data may exacerbate the hawkish tendency of the Fed. It's time for the market to fasten its seat belts.</b></p><p>I still remember that in August last year, the Federal Reserve announced its major adjustment to its monetary policy framework at the annual meeting of global central banks:</p><p>First of all, the Federal Reserve will no longer pre-empt rate hike based on low unemployment rate data, and the progress of actual inflation will become the main yardstick for canceling easing policy; Secondly, the Federal Reserve has officially adopted the flexible average inflation target framework (FAIT), which aims to achieve an average inflation target of 2% over time, that is, after experiencing a certain period of low inflation, it allows higher inflation to occur in the next certain period of time. high inflation. But in Morgan Stanley's view, as the U.S. economy rebounds in the post-epidemic era, the hawkish differences shown at the Federal Reserve meeting are actually surprising, and the market's confidence in FAIT has also declined:</p><p>First, contrary to the Fed's own emphasis on real inflation > inflation expectations, despite recent worse-than-expected data and poor progress against broad job market indicators,<b>The Federal Reserve remains optimistic about the prospects for a job market recovery.</b>The 9.1% unemployment rate for African Americans, for example, is still much higher than the 5.8% unemployment rate for the United States as a whole. Secondly,<b>In recent months, Federal Reserve Chairman Jerome Powell has been tying inflation to \"temporary\", but he has now finally acknowledged the upside risks.</b>This focus on inflation expectations (rather than actual inflation) and the labor market ultimately forms a dot chart showing that \"interest rates will go higher in 2022 and 2023,\" which leads us to conclude:<b>It was a decidedly hawkish meeting.</b>Morgan Stanley also found that, according to the Fed dot plot, policymakers expect the Fed to rate hike 3-4 times in the year after the first rate hike; But the current expectation of the market is that in the 12 months after the first rate hike, the Federal Reserve will only rate hike about twice.</p><p>According to Morgan Stanley,<b>The pace of the Fed's tapering of bond purchases and the expected pace of rate hike are the biggest risks facing the market.</b>In addition, the category composition of tapering bond purchases, the interval between advance notice and the start of tapering, etc. are also additional risks worthy of vigilance.</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>Morgan Stanley warns: Any strong U.S. economic data will hit markets</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nMorgan Stanley warns: Any strong U.S. economic data will hit markets\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-28 12:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It is believed that the market's confidence in the average inflation target framework has declined, stronger economic data may exacerbate the Fed's hawkish tendency, and the pace of the Fed's tapering of bond purchases and the expected pace of rate hike are the biggest risks facing the market.</p><p>After the \"most important\" policy meeting in five years, although the Federal Reserve did not mention tapering QE, it released a signal that it is more likely to rate hike more than once two years later, that is, in 2023.</p><p>Morgan Stanley saw that although the sharp selling wave in broad risk markets has reversed after the meeting, the uncertainty released by the meeting has not changed. Any real or expected policy changes in the future of the Federal Reserve may exacerbate market uncertainty.</p><p>In this environment, Morgan Stanley believes that,<b>The impact of upcoming U.S. employment and inflation data on the market will be amplified, and stronger economic data may exacerbate the hawkish tendency of the Fed. It's time for the market to fasten its seat belts.</b></p><p>I still remember that in August last year, the Federal Reserve announced its major adjustment to its monetary policy framework at the annual meeting of global central banks:</p><p>First of all, the Federal Reserve will no longer pre-empt rate hike based on low unemployment rate data, and the progress of actual inflation will become the main yardstick for canceling easing policy; Secondly, the Federal Reserve has officially adopted the flexible average inflation target framework (FAIT), which aims to achieve an average inflation target of 2% over time, that is, after experiencing a certain period of low inflation, it allows higher inflation to occur in the next certain period of time. high inflation. But in Morgan Stanley's view, as the U.S. economy rebounds in the post-epidemic era, the hawkish differences shown at the Federal Reserve meeting are actually surprising, and the market's confidence in FAIT has also declined:</p><p>First, contrary to the Fed's own emphasis on real inflation > inflation expectations, despite recent worse-than-expected data and poor progress against broad job market indicators,<b>The Federal Reserve remains optimistic about the prospects for a job market recovery.</b>The 9.1% unemployment rate for African Americans, for example, is still much higher than the 5.8% unemployment rate for the United States as a whole. Secondly,<b>In recent months, Federal Reserve Chairman Jerome Powell has been tying inflation to \"temporary\", but he has now finally acknowledged the upside risks.</b>This focus on inflation expectations (rather than actual inflation) and the labor market ultimately forms a dot chart showing that \"interest rates will go higher in 2022 and 2023,\" which leads us to conclude:<b>It was a decidedly hawkish meeting.</b>Morgan Stanley also found that, according to the Fed dot plot, policymakers expect the Fed to rate hike 3-4 times in the year after the first rate hike; But the current expectation of the market is that in the 12 months after the first rate hike, the Federal Reserve will only rate hike about twice.</p><p>According to Morgan Stanley,<b>The pace of the Fed's tapering of bond purchases and the expected pace of rate hike are the biggest risks facing the market.</b>In addition, the category composition of tapering bond purchases, the interval between advance notice and the start of tapering, etc. are also additional risks worthy of vigilance.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a82005fdd5a20870413111b3adc1a547","relate_stocks":{"MS":"摩根士丹利"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173690181","content_text":"摩根士丹利认为，市场对于平均通胀目标框架的信心已经出现下降，更强劲的经济数据可能会加剧美联储的鹰派倾向，美联储缩减购债规模的步伐和预计的加息步伐是市场面临的最大风险。\n“五年来最重要”的政策会议过后，美联储虽未提及缩减QE，但释放了两年后、即2023年较有可能加息不止一次的信号。\n摩根士丹利看到，尽管在会议结束之后，广泛风险市场的急剧抛售潮已经出现逆转，但会议所释放出的不确定性并未有所转圜，美联储未来任何真正的、或是被市场料中的政策转变都有可能加剧市场不确定性。\n在这样的环境下，摩根士丹利认为，即将出炉的美国就业和通胀数据对市场的影响将被放大，更强劲的经济数据可能会加剧美联储的鹰派倾向，市场该系好安全带了。\n犹记得去年8月，美联储在全球央行年会上宣布了其对货币政策框架的重大调整：\n\n 首先，美联储不会再基于低失业率数据而先发制人地加息，实际通胀的进展将成为取消宽松政策的主要尺度；\n\n\n 其次，美联储正式采用了灵活的平均通胀目标框架（FAIT），旨在随着时间推移能实现平均2%的通胀目标，也就是在经历一定时间的低通胀之后，允许接下来一定时间内出现更高的通胀。\n\n但在摩根士丹利看来，随着美国经济在后疫情时代反弹，美联储会议显示出的鹰派分歧其实令人意外，市场对于FAIT的信心也已经出现下降：\n\n 首先，与美联储自己强调的实际通胀>通胀预期相反，尽管近期数据均逊于预期，跟广泛的就业市场指标进展不佳，\n 美联储仍对就业市场复苏的前景表示乐观。\n\n\n 比方说，非裔美国人9.1%的失业率仍远高于美国整体5.8%的失业率。\n\n\n 其次，\n 近几个月，美联储主席鲍威尔一直将通胀跟“暂时性”绑定，但他如今终于承认了上行风险。\n\n\n 这种对通胀预期（而非实际通胀）和劳动力市场的关注，最终形成了显示“利率会在2022年和2023年走得更高”的点状图，这就导致我们得出结论：\n 这是一次明显的鹰派会议。\n\n摩根士丹利还发现，根据美联储点阵图，政策制定者预计， 在首次加息后的一年里，美联储还将加息3-4次；但市场目前的预期则是，在首次加息后的12个月内，美联储只会加息2次左右。\n摩根士丹利认为，美联储缩减购债规模的步伐和预计的加息步伐是市场面临的最大风险。此外，缩减购债的类别构成、提前通知到开始缩减之间的间隔时间等等，也都是值得警惕的额外风险。","news_type":1,"symbols_score_info":{"MS":0.9}},"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150921276,"gmtCreate":1624883644395,"gmtModify":1703846939849,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150921276","repostId":"1187248021","repostType":4,"repost":{"id":"1187248021","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624860366,"share":"https://ttm.financial/m/news/1187248021?lang=en_US&edition=fundamental","pubTime":"2021-06-28 14:06","market":"sh","language":"zh","title":"Foreign investment frequently increases, and 20 times the space for fuel cells is ready to go","url":"https://stock-news.laohu8.com/highlight/detail?id=1187248021","media":"华尔街见闻","summary":"预计2030年燃料电池市场规模将达2600亿元人民币\n\n6月25日晚间，亿华通发布公告称：以简易程序向UBS、北汽新动能、JPMorgan以及Morgan Stanley定增募资不超过2亿元，用于燃料","content":"<p>The fuel cell market is expected to reach 260 billion yuan in 2030. On the evening of June 25,<a href=\"https://laohu8.com/S/688339\">Yihuatong</a>The announcement stated: Using simplified procedures to UBS, BAIC New Kinetic Energy, JPMorgan and<a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>The fixed increase will not exceed 200 million yuan, which will be used for the fuel cell comprehensive testing and evaluation center, etc.</p><p>On the morning of the 28th, Yihuatong's share price rose strongly, and the increase expanded to 14.14% as of noon closing.</p><p><img src=\"https://static.tigerbbs.com/28d05dc7f0ef4411f18fa48ad56356f1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Among other companies in the sector,<a href=\"https://laohu8.com/S/300473\">Del Shares</a>20% daily limit,<a href=\"https://laohu8.com/S/300409\">Dow Technology</a>、<a href=\"https://laohu8.com/S/600478\">Corun</a>Wait for many stocks to rise sharply.</p><p><b>Foreign capital frequently buys fuel cells</b></p><p>It is worth noting that this is not the first time that foreign capital has increased its investment in fuel cells in the near future. According to data from the Hong Kong Stock Exchange, Schroders Plc increased its holdings in leading fuel cell companies at HK $16.1063 per share on June 18<a href=\"https://laohu8.com/S/000338\">Weichai Power</a>3.066 million H shares cost 49.3819 million Hong Kong dollars. After the increase, the shareholding ratio rose to 10.12%.</p><p>In addition, on May 26,<a href=\"https://laohu8.com/S/02338\">Weichai Power</a>The results of the private placement were released. The company raised approximately 13 billion yuan this time, and the issuance targets were finally determined to be 25, including<a href=\"https://laohu8.com/S/UGBLF\">UBS AG</a>、<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>, National Manufacturing Transformation and Upgrading Fund and other institutions.</p><p>Data show that Weichai Power has subscribed to the world's ancestor enterprise of hydrogen fuel cells<a href=\"https://laohu8.com/S/BLDP\">Ballard Powertrain</a>The company's 19.9% shares have become its largest shareholder, and owns the rights of Ballard's next-generation proton exchange membrane fuel cell stack and module technology products in China's bus, commercial truck and forklift markets.</p><p><b>Many places in China have increased their investment, and the list of hydrogen energy urban agglomerations will be announced soon</b></p><p>On June 9, Zhang Jianming, deputy director of the Shanghai Economic and Information Technology Commission, met with Suzhou, Nantong, Jiaxing, Zibo,<a href=\"https://laohu8.com/S/600295\">Ordos</a>Relevant persons in charge of cities and Ningdong Energy and Chemical Industry Base jointly launched the fuel cell vehicle urban agglomeration cooperation project.</p><p>According to the plan, by 2023, nearly 100 hydrogen refueling stations will be planned and 30 will be completed and put into operation, with an output value of nearly 100 billion yuan and nearly 10,000 hydrogen fuel cell vehicles being promoted.</p><p>In February this year, the Beijing Municipal Development and Reform Commission announced the list of key project plans in Beijing for 2021, which also involved projects in the fields of hydrogen energy and fuel cells, including the hydrogen fuel cell R&D and production project of Hengdong Hydrogen Energy.</p><p>It is worth noting that in September 2020, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the National Energy Administration jointly issued the \"Notice on Carrying out the Demonstration Application of Fuel Cell Vehicles\", but the list of fuel cell vehicle demonstration application urban clusters has not been released.</p><p>In this regard, some insiders said that the demonstration role of hydrogen energy urban agglomerations has a significant impact on the industry, and it is expected that the relevant selection list will be accelerated.</p><p><b>How much space does a hydrogen fuel cell have?</b></p><p><a href=\"https://laohu8.com/S/600109\">Sinolink Securities</a>He said that the problems that restrict the development of domestic fuel cells are no longer performance issues, but whether core components can be localized, whether costs can be reduced, and whether there are enough application scenarios.</p><p>The analysis predicts that the first batch of demonstration cities will be the starting gun for increasing the volume of fuel cell vehicles, starting the process of increasing the volume and reducing the cost of hydrogen fuel cells. It is expected that domestic production and sales are expected to reach 10,000 vehicles in 2021.</p><p>Kaiyuan Securities pointed out that fuel cell vehicles will account for about 5% of all new energy vehicles in 2020, and the penetration rate of fuel cell vehicles is expected to increase. The number of vehicles will reach the target of 1 million vehicles from 2030 to 2035. It is expected that the market size of fuel cell gas systems will exceed 10 billion yuan in 2035.</p><p>Japan's Fuji Economic Research Company has a more optimistic view. It predicts that the fuel cell market will reach 4.5 trillion yen (equivalent to approximately 260 billion yuan) by 2030, which is 22.6 times that of 2018.</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>Foreign investment frequently increases, and 20 times the space for fuel cells is ready to go</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\">\nForeign investment frequently increases, and 20 times the space for fuel cells is ready to go\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-28 14:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The fuel cell market is expected to reach 260 billion yuan in 2030. On the evening of June 25,<a href=\"https://laohu8.com/S/688339\">Yihuatong</a>The announcement stated: Using simplified procedures to UBS, BAIC New Kinetic Energy, JPMorgan and<a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>The fixed increase will not exceed 200 million yuan, which will be used for the fuel cell comprehensive testing and evaluation center, etc.</p><p>On the morning of the 28th, Yihuatong's share price rose strongly, and the increase expanded to 14.14% as of noon closing.</p><p><img src=\"https://static.tigerbbs.com/28d05dc7f0ef4411f18fa48ad56356f1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Among other companies in the sector,<a href=\"https://laohu8.com/S/300473\">Del Shares</a>20% daily limit,<a href=\"https://laohu8.com/S/300409\">Dow Technology</a>、<a href=\"https://laohu8.com/S/600478\">Corun</a>Wait for many stocks to rise sharply.</p><p><b>Foreign capital frequently buys fuel cells</b></p><p>It is worth noting that this is not the first time that foreign capital has increased its investment in fuel cells in the near future. According to data from the Hong Kong Stock Exchange, Schroders Plc increased its holdings in leading fuel cell companies at HK $16.1063 per share on June 18<a href=\"https://laohu8.com/S/000338\">Weichai Power</a>3.066 million H shares cost 49.3819 million Hong Kong dollars. After the increase, the shareholding ratio rose to 10.12%.</p><p>In addition, on May 26,<a href=\"https://laohu8.com/S/02338\">Weichai Power</a>The results of the private placement were released. The company raised approximately 13 billion yuan this time, and the issuance targets were finally determined to be 25, including<a href=\"https://laohu8.com/S/UGBLF\">UBS AG</a>、<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>, National Manufacturing Transformation and Upgrading Fund and other institutions.</p><p>Data show that Weichai Power has subscribed to the world's ancestor enterprise of hydrogen fuel cells<a href=\"https://laohu8.com/S/BLDP\">Ballard Powertrain</a>The company's 19.9% shares have become its largest shareholder, and owns the rights of Ballard's next-generation proton exchange membrane fuel cell stack and module technology products in China's bus, commercial truck and forklift markets.</p><p><b>Many places in China have increased their investment, and the list of hydrogen energy urban agglomerations will be announced soon</b></p><p>On June 9, Zhang Jianming, deputy director of the Shanghai Economic and Information Technology Commission, met with Suzhou, Nantong, Jiaxing, Zibo,<a href=\"https://laohu8.com/S/600295\">Ordos</a>Relevant persons in charge of cities and Ningdong Energy and Chemical Industry Base jointly launched the fuel cell vehicle urban agglomeration cooperation project.</p><p>According to the plan, by 2023, nearly 100 hydrogen refueling stations will be planned and 30 will be completed and put into operation, with an output value of nearly 100 billion yuan and nearly 10,000 hydrogen fuel cell vehicles being promoted.</p><p>In February this year, the Beijing Municipal Development and Reform Commission announced the list of key project plans in Beijing for 2021, which also involved projects in the fields of hydrogen energy and fuel cells, including the hydrogen fuel cell R&D and production project of Hengdong Hydrogen Energy.</p><p>It is worth noting that in September 2020, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the National Energy Administration jointly issued the \"Notice on Carrying out the Demonstration Application of Fuel Cell Vehicles\", but the list of fuel cell vehicle demonstration application urban clusters has not been released.</p><p>In this regard, some insiders said that the demonstration role of hydrogen energy urban agglomerations has a significant impact on the industry, and it is expected that the relevant selection list will be accelerated.</p><p><b>How much space does a hydrogen fuel cell have?</b></p><p><a href=\"https://laohu8.com/S/600109\">Sinolink Securities</a>He said that the problems that restrict the development of domestic fuel cells are no longer performance issues, but whether core components can be localized, whether costs can be reduced, and whether there are enough application scenarios.</p><p>The analysis predicts that the first batch of demonstration cities will be the starting gun for increasing the volume of fuel cell vehicles, starting the process of increasing the volume and reducing the cost of hydrogen fuel cells. It is expected that domestic production and sales are expected to reach 10,000 vehicles in 2021.</p><p>Kaiyuan Securities pointed out that fuel cell vehicles will account for about 5% of all new energy vehicles in 2020, and the penetration rate of fuel cell vehicles is expected to increase. The number of vehicles will reach the target of 1 million vehicles from 2030 to 2035. It is expected that the market size of fuel cell gas systems will exceed 10 billion yuan in 2035.</p><p>Japan's Fuji Economic Research Company has a more optimistic view. It predicts that the fuel cell market will reach 4.5 trillion yen (equivalent to approximately 260 billion yuan) by 2030, which is 22.6 times that of 2018.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d8fb95e65f042f352c6313989391357","relate_stocks":{"688339":"亿华通"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187248021","content_text":"预计2030年燃料电池市场规模将达2600亿元人民币\n\n6月25日晚间，亿华通发布公告称：以简易程序向UBS、北汽新动能、JPMorgan以及Morgan Stanley定增募资不超过2亿元，用于燃料电池综合测试评价中心等。\n28日早间，亿华通股价强势上扬，截至午间收盘涨幅扩大至14.14%。\n\n板块其他公司中，德尔股份20%涨停，道氏技术、科力远等多股大涨。\n外资频频出手燃料电池\n值得注意的是，这并非外资近期首次对燃料电池进行加码，港交所资料显示，Schroders Plc于6月18日以16.1063港元/股增持燃料电池领军企业潍柴动力H股306.6万股，耗资4938.19万港元，增持后持股比例升至10.12%。\n此外，5月26日，潍柴动力定增结果出炉，公司此次募资约130亿元，发行对象最终确定为25位，包括UBS AG、摩根士丹利、国家制造业转型升级基金等机构。\n数据显示，潍柴动力已认购全球氢燃料电池始祖级企业巴拉德动力系统公司19.9%股份成为其第一大股东，并拥有巴拉德下一代质子交换膜燃料电池电堆及模组技术产品在中国客车、商用卡车和叉车市场的权利。\n国内多地纷纷加码，氢能城市群名单公布在即\n6月9日，上海经信委副主任张建明与苏州、南通、嘉兴、淄博、鄂尔多斯等城市以及宁东能源化工基地的相关负责人共同启动燃料电池汽车城市群合作项目。\n根据规划，到2023年将规划加氢站接近100座并建成运行30座，形成产值规模近1000亿元，推广氢燃料电池汽车近10000辆。\n而在今年2月，北京市发展改革委对外公布北京市2021年重点工程计划名单，也涉及了氢能与燃料电池领域的项目包括恒动氢能的氢能燃料电池研发生产项目。\n值得注意的是，2020年9月，财政部、工业和信息化部、科技部、国家发展改革委、国家能源局联合发布的《关于开展燃料电池汽车示范应用的通知》，但燃料电池汽车示范应用城市群名单一直没有发布。\n对此，有业内人士表示，氢能城市群示范作用对行业产业影响明显，预计相关入选名单将加快落地。\n氢燃料电池空间多大？\n国金证券表示，现如今制约国产燃料电池发展的问题已经不是性能上的问题，而是核心零部件能否国产化、成本能否下降以及应用场景是否足够多的问题。\n分析预计，首批示范城市落地将是燃料电池汽车放量的发令枪，开启氢燃料电池的放量降本进程，预期2021年国内产销量有望达到万辆级别。\n开源证券指出，2020年燃料电池车占全部新能源车比例约为5%，燃料电池车渗透率有望提升，2030~2035年保有量将达到100万辆的目标，预计2035年燃料电池气体系统的市场规模有望超过百亿元。\n而日本富士经济调查公司的观点则更为乐观，其预计到2030年燃料电池市场规模将达4.5万亿日元（折合人民币约2600亿元），是2018年的22.6倍。","news_type":1,"symbols_score_info":{"688339":0.9}},"isVote":1,"tweetType":1,"viewCount":657,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150921392,"gmtCreate":1624883630116,"gmtModify":1703846939362,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150921392","repostId":"1114156338","repostType":4,"isVote":1,"tweetType":1,"viewCount":662,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150923185,"gmtCreate":1624883595247,"gmtModify":1703846937737,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150923185","repostId":"1102698423","repostType":4,"repost":{"id":"1102698423","kind":"news","pubTimestamp":1624863729,"share":"https://ttm.financial/m/news/1102698423?lang=en_US&edition=fundamental","pubTime":"2021-06-28 15:02","market":"hk","language":"zh","title":"Internet medical companies have set off a wave of listings, and Dingdang Kuaiyao sprints to be listed on the Hong Kong Stock Exchange","url":"https://stock-news.laohu8.com/highlight/detail?id=1102698423","media":"第一财经","summary":"2020年企业注册量最多，今年上半年注册量同比增长115.4%。\n\n日前，叮当快药向港交所递交上市申请。自去年底京东健康在港交所上市以来，互联网医疗企业掀起了上市潮。企查查数据显示，目前我国现存“互联","content":"<p><div>In 2020, the number of enterprise registrations was the largest, and the number of registrations in the first half of this year increased by 115.4% year-on-year. A few days ago, Dingdang Kuaiyao submitted a listing application to the Hong Kong Stock Exchange. Since JD Health was listed on the Hong Kong Stock Exchange at the end of last year, Internet medical companies have set off a wave of listings. According to the data of enterprise search, there are currently 500,000 \"Internet medical care\" related enterprises in China. 2020 is the peak period of enterprise registration, with 61,000 new enterprises; In the first half of this year, 140,000 new enterprises were added, a year-on-year increase of 115.4%. From the perspective of provincial distribution, Guangdong Province ranks first with 83,000 companies, followed by Shandong Province and Fujian Province. Furthermore, there are...</p><p><a href=\"https://www.yicai.com/news/101094384.html\">Web link</a></div></p>","source":"dyvj","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>Internet medical companies have set off a wave of listings, and Dingdang Kuaiyao sprints to be listed on the Hong Kong Stock Exchange</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\">\nInternet medical companies have set off a wave of listings, and Dingdang Kuaiyao sprints to be listed on the Hong Kong Stock Exchange\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">第一财经</strong><span class=\"h-time small\">2021-06-28 15:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>In 2020, the number of enterprise registrations was the largest, and the number of registrations in the first half of this year increased by 115.4% year-on-year. A few days ago, Dingdang Kuaiyao submitted a listing application to the Hong Kong Stock Exchange. Since JD Health was listed on the Hong Kong Stock Exchange at the end of last year, Internet medical companies have set off a wave of listings. According to the data of enterprise search, there are currently 500,000 \"Internet medical care\" related enterprises in China. 2020 is the peak period of enterprise registration, with 61,000 new enterprises; In the first half of this year, 140,000 new enterprises were added, a year-on-year increase of 115.4%. From the perspective of provincial distribution, Guangdong Province ranks first with 83,000 companies, followed by Shandong Province and Fujian Province. Furthermore, there are...</p><p><a href=\"https://www.yicai.com/news/101094384.html\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.yicai.com/news/101094384.html\">第一财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/29ad0ce89176915a4685c7665dee3234","relate_stocks":{"01833":"平安好医生","06618":"京东健康"},"source_url":"https://www.yicai.com/news/101094384.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102698423","content_text":"2020年企业注册量最多，今年上半年注册量同比增长115.4%。\n\n日前，叮当快药向港交所递交上市申请。自去年底京东健康在港交所上市以来，互联网医疗企业掀起了上市潮。企查查数据显示，目前我国现存“互联网医疗”相关企业共50万家。2020年是企业注册量的高峰期，新增6.1万家；今年上半年新增14万家企业，同比增长115.4%。从省份分布来看，广东省以8.3万家位列第一，其次是山东省、福建省。此外，有62%的企业注册资本超过100万。面对阿里健康、京东健康、平安好医生等一众巨头玩家，缝中求生的叮当快药，上市会是解药吗？\n2020年企业注册量最多，今年上半年注册量同比增长115.4%\n\n企查查数据显示，从近十年互联网医疗相关企业发展状况来看，2016年开始，企业注册量增速加快，当年注册量首次突破2万家；2018年注册量突破4万家；2020年是十年来企业注册量的高峰期，全年共注册了6.1万家，同比增长了23.3%。\n\n从今年的注册量来看，2021年上半年，我国互联网医疗企业注册量为14万家，同比增长了115.4%。从各月注册量来看，今年三月和四月是注册量较多的月份，均注册了3.1万家相关企业。\n广东省企业最多，山东、福建其次\n\n从地域分布来看，企查查数据显示，目前我国现存的互联网医疗相关企业主要分布在广东、山东、福建等省份。其中广东拥有最多的互联网医疗相关企业，共8.3万家排全国第一。山东排名第二，共5.4万家相关企业；福建排名第三，有4.9万家相关企业。\n\n从注册资本来看，企查查数据显示，互联网医疗相关企业注册资本在100万元以内的企业数量占38%，100万元以上则占62%，其中注册资本在100-500万元和500万元以上的分别占37%和25%。","news_type":1,"symbols_score_info":{"01833":0.9,"06618":0.9}},"isVote":1,"tweetType":1,"viewCount":903,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150929453,"gmtCreate":1624883580872,"gmtModify":1703846936927,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150929453","repostId":"2146881398","repostType":4,"repost":{"id":"2146881398","kind":"news","pubTimestamp":1624865044,"share":"https://ttm.financial/m/news/2146881398?lang=en_US&edition=fundamental","pubTime":"2021-06-28 15:24","market":"us","language":"zh","title":"Buffett: Many people's understanding of value investing is wrong!","url":"https://stock-news.laohu8.com/highlight/detail?id=2146881398","media":"新浪财经","summary":"沃伦·巴菲特在福布斯排行榜上名列前茅。他的所有钱都是通过投资创造的。巴菲特的创富神话一直都让人眼馋。这便是唯一的答案。所有人都对钱敏感，但巴菲特对挣钱敏感，这种敏感带给他终身致富的高潮。查理·芒格后来成为巴菲特的投资搭档，两人专注于高质量的公司。价值投资一个绝好的方法，就是以折扣价格购买有“护城河”的高质量公司。投资是一门艺术，持之以恒的学习，是精通这门艺术的唯一通路。","content":"<p>Warren Buffett tops the Forbes list.</p><p>All of his money is created through investments.</p><p>Buffett's myth of wealth creation has always been eye-catching.</p><p>So, how does he do it?</p><p>Value investing.</p><p>This is the only answer.</p><p>01</p><p>Money Sensitive</p><p>Everyone is sensitive to money, but Buffett is sensitive to making money, and this sensitivity has brought him the climax of lifelong wealth.</p><p>Elementary school, he sold Wrigley gum and cans<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>(He later invested in both companies); At 11, he bought his first stock; 13 years old, fill out the first tax return; At the age of 14, he used the money he earned to buy land in Nebraska (isn't it too much to become a landowner at a young age).</p><p><img src=\"https://static.tigerbbs.com/3badb332210fba93c55d2e8a75ce85bb\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>My father went into politics and was a congressman in Washington. Buffett couldn't sit idle, so he worked as a newsboy and delivered newspapers to save money. Later, he bought some pinball machines, put them in the barber shop and shared them with the owner.</p><p>It can be said that as long as there is an opportunity to make money, he will not let it go.</p><p>This is the first big gap between Buffett and us.</p><p>We are sensitive to money, and he is sensitive to earning money.</p><p>02</p><p>The power of knowledge</p><p>Knowledge changes destiny, and this statement will not be false on anyone.</p><p>When Buffett was an undergraduate, he was at Wharton Business School and Nebraska State University. After graduation, he was admitted to Harvard and was rejected by Harvard. Fortunately, Columbia University admitted him.</p><p>At Columbia University, he met Benjamin Graham, the pioneer of value investing who completely changed his life. This is the first acceleration in Buffett's life.</p><p><img src=\"https://static.tigerbbs.com/d0fbdeb578281040d4a46089a40e8ce0\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>For a long time, Buffett regarded Benjamin Graham as a god and has been operating according to his ideas.</p><p>After working for Graham and his old father for a while, Buffett set up his own investment firm and managed a series of hedge funds.</p><p>After that, Buffett abandoned Benjamin Graham's too rigorous value investing method and absorbed the investment strategies of growth investors Philip Fisher and Charlie Munger.</p><p>Charlie Munger later became Buffett's investment partner, and the two focused on high-quality companies.<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Is the result of their work.</p><p><img src=\"https://static.tigerbbs.com/718f8da64474e654e0d03a1f78af0b69\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>The original Berkshire was still a textile manufacturer struggling to survive.</p><p>Now, it has become something that others can't afford-it owns many companies such as Geke Insurance, Duracell Battery, Dairy Queen, and Netjie; Hoarded a lot of stocks, such as Coca-Cola,<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>、<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Kraft, Heinz,<a href=\"https://laohu8.com/S/AXP\">American Express</a>Wait, wait.</p><p>03</p><p>Theoretical precipitation and value combat</p><p>Value investing and moats.</p><p>In these two words, all the passwords of Buffett's wealth kingdom are hidden.</p><p>\"Moat\" can be simply understood as a buffer zone around a company's core business, making it less vulnerable to competitors.</p><p>Why is there only<a href=\"https://laohu8.com/S/BA\">boeing</a>And Airbus, two major commercial aircraft manufacturers, but countless restaurants? The answer lies in it.</p><p>An excellent way to invest in value is to buy high-quality companies with a \"moat\" at a discounted price.</p><p>Buffett's thinking has produced good results in practice.</p><p><img src=\"https://static.tigerbbs.com/d6e581fcb89c6fa1c1cfd058f5659796\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>Buffett's investment in American Express in 1963 was the first important application of this idea.</p><p>At the time, American Express had a finance-related business, one of which was warehouse management. They can provide loans to a company based on its inventory list. The company's goods will be placed in a warehouse, and employees of the American Stock Exchange can go and inspect it.</p><p>A company borrowed money by virtue of its salad oil inventory, but this company injected water into salad oil and was found to commit fraud. Subsequently, the company went bankrupt, and the stock of Express Company plummeted by 50%.</p><p>Buffett believes that temporary mistakes can only cause short-term losses, the core business of American Express will not be affected, and the \"moat\" is still very wide.</p><p>So, Buffett made a move, taking out 40% of his assets and buying 5% of American Express stocks.</p><p>Five years later, Buffett sold his shares for more than five times the profit. After that, Buffett made a new bet on American Express Company, which he had held for more than 25 years.</p><p><img src=\"https://static.tigerbbs.com/66ed8aa41fa68a2f91e6f6b5b997673c\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>Holding Coca-Cola is another myth created by another Buffett.</p><p>In 1988, his Berkshire Hathaway started buying shares of Coca-Cola.</p><p>At that time, Coca-Cola's P/E was about 15, which was not particularly cheap, but lower than its historical average of 20. P/E is the ratio of market price per share to earnings per share, which is used to measure whether a stock is overvalued. The lower the P/E, the cheaper the stock will be.</p><p>Coca-Cola is so cheap for several reasons. First, the stock market crashed in 1987, and everyone's mentality collapsed; Second, the new Coca-Cola products are too bad to drink, and the market's reputation has fallen in the short term; The third is investment failure.</p><p>Buffett found that Coca-Cola's \"moat\" is very wide, its network marketing is very strong, and it is difficult for competitors to challenge it. Coupled with Coca-Cola's gross profit of 80% and the love of emerging markets, Buffett said confidently: \"If you give me $100 billion and tell me to'take away Coca-Cola's leading position in the global beverage market ', I will give you the money back, and then tell you that it can't be done.\"</p><p>Buffett's initial investment in Coca-Cola was $1.2 billion, and with subsequent purchases from time to time, the total assets later acquired were valued at about $16 billion-plus billions of Dividend received.</p><p>04</p><p>Secret to Success</p><p>\"When others are greedy, be afraid; When others are afraid, be greedy.\"</p><p>On the whole, Warren Buffett showed the attitude of a successful man when he was young. However, it wasn't until he met Graham that his investment strategy began to take shape. After that, he absorbed the ideas of Charlie Munger and others to form a unique investment idea.</p><p>Buffett's contribution to value investing is to find high-quality companies that are being sold at a discount, and let the \"moat\" around the company protect his investment, allowing him to hold the company's stock forever-this is his favorite way.</p><p>Many people try to copy Buffett's investment method, but this idea is wrong from the beginning. Buffett can learn, but he must not copy it. Even if he copies it, there is no place to paste it.</p><p>Investment is an art, and persistent learning is the only way to master this art. Getting close to the master and learning from the master is the shortcut in this path.</p>","source":"sina_symbol","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>Buffett: Many people's understanding of value investing is wrong!</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\">\nBuffett: Many people's understanding of value investing is wrong!\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-06-28 15:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Warren Buffett tops the Forbes list.</p><p>All of his money is created through investments.</p><p>Buffett's myth of wealth creation has always been eye-catching.</p><p>So, how does he do it?</p><p>Value investing.</p><p>This is the only answer.</p><p>01</p><p>Money Sensitive</p><p>Everyone is sensitive to money, but Buffett is sensitive to making money, and this sensitivity has brought him the climax of lifelong wealth.</p><p>Elementary school, he sold Wrigley gum and cans<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>(He later invested in both companies); At 11, he bought his first stock; 13 years old, fill out the first tax return; At the age of 14, he used the money he earned to buy land in Nebraska (isn't it too much to become a landowner at a young age).</p><p><img src=\"https://static.tigerbbs.com/3badb332210fba93c55d2e8a75ce85bb\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>My father went into politics and was a congressman in Washington. Buffett couldn't sit idle, so he worked as a newsboy and delivered newspapers to save money. Later, he bought some pinball machines, put them in the barber shop and shared them with the owner.</p><p>It can be said that as long as there is an opportunity to make money, he will not let it go.</p><p>This is the first big gap between Buffett and us.</p><p>We are sensitive to money, and he is sensitive to earning money.</p><p>02</p><p>The power of knowledge</p><p>Knowledge changes destiny, and this statement will not be false on anyone.</p><p>When Buffett was an undergraduate, he was at Wharton Business School and Nebraska State University. After graduation, he was admitted to Harvard and was rejected by Harvard. Fortunately, Columbia University admitted him.</p><p>At Columbia University, he met Benjamin Graham, the pioneer of value investing who completely changed his life. This is the first acceleration in Buffett's life.</p><p><img src=\"https://static.tigerbbs.com/d0fbdeb578281040d4a46089a40e8ce0\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>For a long time, Buffett regarded Benjamin Graham as a god and has been operating according to his ideas.</p><p>After working for Graham and his old father for a while, Buffett set up his own investment firm and managed a series of hedge funds.</p><p>After that, Buffett abandoned Benjamin Graham's too rigorous value investing method and absorbed the investment strategies of growth investors Philip Fisher and Charlie Munger.</p><p>Charlie Munger later became Buffett's investment partner, and the two focused on high-quality companies.<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Is the result of their work.</p><p><img src=\"https://static.tigerbbs.com/718f8da64474e654e0d03a1f78af0b69\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>The original Berkshire was still a textile manufacturer struggling to survive.</p><p>Now, it has become something that others can't afford-it owns many companies such as Geke Insurance, Duracell Battery, Dairy Queen, and Netjie; Hoarded a lot of stocks, such as Coca-Cola,<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>、<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Kraft, Heinz,<a href=\"https://laohu8.com/S/AXP\">American Express</a>Wait, wait.</p><p>03</p><p>Theoretical precipitation and value combat</p><p>Value investing and moats.</p><p>In these two words, all the passwords of Buffett's wealth kingdom are hidden.</p><p>\"Moat\" can be simply understood as a buffer zone around a company's core business, making it less vulnerable to competitors.</p><p>Why is there only<a href=\"https://laohu8.com/S/BA\">boeing</a>And Airbus, two major commercial aircraft manufacturers, but countless restaurants? The answer lies in it.</p><p>An excellent way to invest in value is to buy high-quality companies with a \"moat\" at a discounted price.</p><p>Buffett's thinking has produced good results in practice.</p><p><img src=\"https://static.tigerbbs.com/d6e581fcb89c6fa1c1cfd058f5659796\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>Buffett's investment in American Express in 1963 was the first important application of this idea.</p><p>At the time, American Express had a finance-related business, one of which was warehouse management. They can provide loans to a company based on its inventory list. The company's goods will be placed in a warehouse, and employees of the American Stock Exchange can go and inspect it.</p><p>A company borrowed money by virtue of its salad oil inventory, but this company injected water into salad oil and was found to commit fraud. Subsequently, the company went bankrupt, and the stock of Express Company plummeted by 50%.</p><p>Buffett believes that temporary mistakes can only cause short-term losses, the core business of American Express will not be affected, and the \"moat\" is still very wide.</p><p>So, Buffett made a move, taking out 40% of his assets and buying 5% of American Express stocks.</p><p>Five years later, Buffett sold his shares for more than five times the profit. After that, Buffett made a new bet on American Express Company, which he had held for more than 25 years.</p><p><img src=\"https://static.tigerbbs.com/66ed8aa41fa68a2f91e6f6b5b997673c\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>Holding Coca-Cola is another myth created by another Buffett.</p><p>In 1988, his Berkshire Hathaway started buying shares of Coca-Cola.</p><p>At that time, Coca-Cola's P/E was about 15, which was not particularly cheap, but lower than its historical average of 20. P/E is the ratio of market price per share to earnings per share, which is used to measure whether a stock is overvalued. The lower the P/E, the cheaper the stock will be.</p><p>Coca-Cola is so cheap for several reasons. First, the stock market crashed in 1987, and everyone's mentality collapsed; Second, the new Coca-Cola products are too bad to drink, and the market's reputation has fallen in the short term; The third is investment failure.</p><p>Buffett found that Coca-Cola's \"moat\" is very wide, its network marketing is very strong, and it is difficult for competitors to challenge it. Coupled with Coca-Cola's gross profit of 80% and the love of emerging markets, Buffett said confidently: \"If you give me $100 billion and tell me to'take away Coca-Cola's leading position in the global beverage market ', I will give you the money back, and then tell you that it can't be done.\"</p><p>Buffett's initial investment in Coca-Cola was $1.2 billion, and with subsequent purchases from time to time, the total assets later acquired were valued at about $16 billion-plus billions of Dividend received.</p><p>04</p><p>Secret to Success</p><p>\"When others are greedy, be afraid; When others are afraid, be greedy.\"</p><p>On the whole, Warren Buffett showed the attitude of a successful man when he was young. However, it wasn't until he met Graham that his investment strategy began to take shape. After that, he absorbed the ideas of Charlie Munger and others to form a unique investment idea.</p><p>Buffett's contribution to value investing is to find high-quality companies that are being sold at a discount, and let the \"moat\" around the company protect his investment, allowing him to hold the company's stock forever-this is his favorite way.</p><p>Many people try to copy Buffett's investment method, but this idea is wrong from the beginning. Buffett can learn, but he must not copy it. Even if he copies it, there is no place to paste it.</p><p>Investment is an art, and persistent learning is the only way to master this art. Getting close to the master and learning from the master is the shortcut in this path.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://k.sina.cn/article_1638782947_61add7e3019012cvd.html\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://k.sina.cn/article_1638782947_61add7e3019012cvd.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146881398","content_text":"沃伦·巴菲特在福布斯排行榜上名列前茅。\n他的所有钱都是通过投资创造的。\n巴菲特的创富神话一直都让人眼馋。\n那么，他是怎么做的呢？\n价值投资。\n这便是唯一的答案。\n01\n对金钱敏感\n所有人都对钱敏感，但巴菲特对挣钱敏感，这种敏感带给他终身致富的高潮。\n小学，他卖箭牌口香糖和罐装可口可乐（后来两家公司他都投了）；11岁，他购买了第一只股票；13岁，填第一份纳税申报单；14岁，用自己赚的钱在内布拉斯加州买地（年纪轻轻就成为地主，是不是很过分）。\n\n父亲从政，在华盛顿做国会议员。巴菲特闲不住，去当报童，送报纸攒钱。后来，他买了一些弹球机，放在理发店里，跟店主分成。\n可以说，只要有挣钱的机会，他都不会放过。\n这就是巴菲特跟我们的第一个大型差距。\n我们对钱敏感，他对挣钱敏感。\n02\n知识的力量\n知识改变命运，这话放在谁身上都不会假。\n巴菲特本科的时候先后在沃顿商学院、内布拉斯加州立大学，毕业后考哈佛，被哈佛拒绝，好在哥伦比亚大学录取了他。\n在哥大，他遇到了彻底改变他人生的价值投资先驱——本杰明·格雷厄姆。这是巴菲特人生的第一次加速。\n\n巴菲特在很长的时间里，视本杰明·格雷厄姆为神，一直按照他的思路来操作。\n在为格雷厄姆和自己的老父亲做了一段时间的工作之后，巴菲特成立了自己的投资公司，管理一系列对冲基金。\n之后，巴菲特放弃了本杰明·格雷厄姆过于严谨的价值投资方法，吸收了成长型投资家菲利普·费雪、查理·芒格的投资策略。\n查理·芒格后来成为巴菲特的投资搭档，两人专注于高质量的公司。伯克希尔便是他们的工作成果。\n\n最初的伯克希尔，还是一个努力求生的纺织品制造商。\n而现在，它已经成了别人高攀不起的样子——拥有盖可保险、金霸王电池、乳品皇后、奈特捷等多家公司；囤积了大量股票，如可口可乐、富国银行、沃尔玛、美国银行、卡夫、亨氏、美国运通等等。\n03\n理论沉淀与价值实战\n价值投资和护城河。\n这两个词语里，藏着巴菲特财富王国的全部密码。\n“护城河”，可以简单理解为，一个公司核心业务周围的缓冲区，让它不容易受到竞争对手的打击。\n为什么世界上只有波音和空中客车两大商用飞机制造商，却又不计其数的餐厅呢？答案就在其中。\n价值投资一个绝好的方法，就是以折扣价格购买有“护城河”的高质量公司。\n巴菲特的这种思想在实践中产生了很好的效果。\n\n1963年，巴菲特对美国运通公司的投资，是这种思想的第一次重要应用。\n当时，美国运通公司有一项金融相关业务，其中之一是仓库管理。他们可以根据一家公司的存货清单为其提供贷款。这家公司的货物将被放置在一个仓库里，美国证券交易所的雇员可以前往视察。\n有一家公司凭借色拉油存货借到了钱，但这家公司给色拉油注水，搞欺诈被发现。随后，这家公司破产，运通公司的股票暴跌50%。\n巴菲特认为，一时的失误只能造成短暂的损失，运通公司的核心业务不受影响，“护城河”还很宽。\n于是，巴菲特出手了，拿出了自己资产的40%，买了美国运通5%的股票。\n5年后，巴菲特以超过5倍的利润卖掉了股份。之后，巴菲特在运通公司投下新的赌注，他持有该公司的股票已经超过25年。\n\n持有可口可乐，是另一个巴菲特创造的另一个神话。\n1988年，他的伯克希尔·哈撒韦公司开始买入可口可乐公司的股票。\n当时，可口可乐的市盈率约为15，不是特别便宜，但是低于其历史平均值20。市盈率是每股市价与每股盈利的比率，用来衡量股票价值是否被高估。市盈率越低，股票就越便宜。\n可口可乐如此便宜，出于几个原因。一是87年股市崩盘，大家心态比较崩；二是可口可乐新品太难喝，市场短期内口碑下跌；三是投资失败。\n巴菲特发现，可口可乐的“护城河”很宽，它的网络营销是很强大的，竞争对手很难对它发起挑战。再加上可口可乐的毛利润高达80%和新兴市场的喜爱，让巴菲特信心十足地说：“如果你给我1000亿美元，告诉我‘夺走可口可乐在全球饮料市场的领先地位’，我会把钱还给你，然后跟你说办不到”。\n巴菲特最初对可口可乐的投资是12亿美元，加上后续时不时的买入，后来获得的总资产被估值约160亿美元——外加收到的数十亿股息。\n04\n成功秘诀\n “当别人贪婪时，你要恐惧；当别人恐惧时，你要贪婪。”\n整体来看，沃伦·巴菲特在年少时就显露出成功者的姿态。不过，直到他遇到了格雷厄姆，他的投资策略才开始形成。之后，他吸纳了查理·芒格等人的思想，形成了独一无二的投资思想。\n巴菲特对价值投资的贡献在于，找到在以折扣价出售的高质量公司，让公司周围的“护城河”保护他的投资，使他能够永远持有公司的股票——这是他最喜欢的方式。\n很多人试图寻找复制巴菲特的投资方法，但这种想法，一开始就错了。巴菲特可以学习，但绝对不能复制，即便复制，也没地方粘贴。\n投资是一门艺术，持之以恒的学习，是精通这门艺术的唯一通路。而靠近大师，跟大师学习，则是这条通路中的捷径。","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":692,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150965024,"gmtCreate":1624883333568,"gmtModify":1703846929803,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150965024","repostId":"1185593408","repostType":4,"repost":{"id":"1185593408","kind":"news","pubTimestamp":1624881542,"share":"https://ttm.financial/m/news/1185593408?lang=en_US&edition=fundamental","pubTime":"2021-06-28 19:59","market":"us","language":"zh","title":"Under the wave of digital intelligence, how should the second-hand car e-commerce with \"chicken feathers all over the place\" break the situation?","url":"https://stock-news.laohu8.com/highlight/detail?id=1185593408","media":"港股研究社","summary":"互联网的兴起，震撼着各行各业。\n仅有底色的衣食住行各领域，在互联网的调色盘之下开始变得绚丽多彩，阿里、京东、美团、携程等行业巨头相继诞生。\n而在大领域被资本蚕食之后，其细分领域自然变成了玩家们新的游戏","content":"<p>The rise of the Internet has shocked all walks of life.</p><p>All fields of food, clothing, housing and transportation, which only have background colors, have begun to become colorful under the color palette of the Internet. Ali,<a href=\"https://laohu8.com/S/JD\">JD.com</a>, Meituan, Ctrip and other industry giants were born one after another.</p><p>After the large field was eroded by capital, its subdivision naturally became a new game place for players, and the e-commerce transaction of used cars was under such branches and leaves, which became an existence that cannot be ignored.</p><p>In March,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Successfully logged into Hong Kong stocks; Recently, the used car trading service platform \"Che Xiaoduo\" received Series A financing of USD 6 million.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Capital and Li Xingxing, the son of Geely Li Shufu, led the investment. It can be seen that the used car e-commerce market is being favored by capital, and the business on the table has aroused a lot of capital splash.</p><p><img src=\"https://static.tigerbbs.com/c94fb1303fbbf5af5002065cdc611e66\" tg-width=\"688\" tg-height=\"491\" referrerpolicy=\"no-referrer\"></p><p>With a market size of trillions, how will used car e-commerce tell about this business? In the market melee, how will the middle and tail platforms compete for a place?</p><p><b>\"Idle economy\" is in power</b></p><p><b>Business experience of used car e-commerce</b></p><p>From new to old, second-hand is a topic that can't be crossed, and once it evolves, it becomes a serious business.</p><p>The 618 that just passed is an e-commerce carnival and a second-hand 3C trading platform<a href=\"https://laohu8.com/S/RERE\">Love Recycling</a>Big day to go public. On the evening of June 18th, Aihuishou officially landed on Wall Street. The closing stock price rose 22.93% that day, with a total market value of US $3.793 billion. Aihuishou, which was supported by JD.com, suddenly pushed the second-hand business to another climax.</p><p>Nowadays, the idle economy is booming, and second-hand e-commerce is becoming a new blue ocean. According to data from iiMedia Consulting, the transaction scale of my country's second-hand e-commerce industry in 2019 was 259.69 billion yuan, a year-on-year increase of 53.2%, and the transaction scale in 2020 reached 374.55 billion yuan.</p><p>Under the rapid expansion of the market, contestants continue to rise. In addition to top players such as Xianyu, Zhuanzhuan, and Aihuishou, back-wave players such as Huishoubao, Lezhuanji, and Flash Huishou continue to emerge on the track, rapidly stirring up capital together. Before the Spring Festival this year, Zhuan Zhuan received US $390 million in financing, which is currently the largest single cash financing in the domestic second-hand e-commerce field.</p><p>The vane of capital is often the hot market orientation, all of which indicate that second-hand business is a good business. Under this background, it is naturally a rare and good way to classify second-hand car transactions in the second-hand market.</p><p>According to the latest statistics from the Ministry of Public Security, as of the end of 2020, the number of cars in my country has reached 281 million. Compared with the United States, which has the largest car ownership in the world, the gap has also narrowed to 6 million vehicles. It is estimated that in June this year, it will surpass the United States for the first time and become the country with the largest car ownership in the world. With such a large volume, it also means that the domestic used car market will simultaneously usher in new opportunities and become a rare good cake.</p><p>Under the consumption feast, there is actually a deeper meaning hidden. According to data from iiMedia Consulting, in 2021, 43.7% of Chinese netizens often use second-hand e-commerce platforms. Behind this is the improvement of national purchasing power and the change of consumption concept, which has given birth to the growth of the second-hand market. Under the upgrading of consumption, a large number of idle items need such a platform to digest, so that resources can continue to exert their surplus value.<img src=\"https://static.tigerbbs.com/064249fb6d5db714ab689004199758e5\" tg-width=\"900\" tg-height=\"822\" referrerpolicy=\"no-referrer\"></p><p>In addition, the second-hand e-commerce platform has rapidly increased the market popularity of second-hand transactions with the blessing of a number of celebrity Internet celebrities, such as Sun Li, Wei Ya, Orfila, etc.</p><p>However, taking advantage of the new trend of the second-hand economy, the second-hand car trading platform has a bright development prospect at the right time, place and people, but instead of entering such a bonus track, can big and small players live smoothly?</p><p><b>Trillion market size</b></p><p><b>Matthew effect is obvious</b></p><p>In recent years, the scale of the second-hand car trading market has been expanding. According to the data of Qianzhan Industry Research Institute, the market size has reached 935.686 billion yuan in 2019. Despite the impact of the epidemic in 2020, it only dropped by 5% year-on-year to 888.837 billion yuan. In the first quarter of 2021, the scale was about 247.577 billion yuan. With this growth rate, the market will reach a trillion-dollar scale.</p><p><img src=\"https://static.tigerbbs.com/d6b716135839c4f1a2ac05d064e05b4f\" tg-width=\"840\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>Under the huge market space, it obviously gives second-hand car e-commerce a huge room for imagination. In addition, the continuous COVID-19 pandemic has caused a shortage of new car chips, which directly causes the supply side of new cars to face challenges, which has also caused second-hand car assets worldwide. Prices soared.</p><p>From a foreign perspective, the performance of CarMax, the traditional second-hand car retail industry giant in the United States, continues to hit new highs, with sales reaching 1.18 million units in 2020. Today's industry leader and upstart company Carvana sold 300,000 units last year. In 2020, its stock price rose tenfold, and its market value is about 50 billion dollars.</p><p>Domestically, in June this year, Guazi's second-hand parent company Chehaoduo completed US $300 million in financing, followed by the second-hand platform<a href=\"https://laohu8.com/S/UXIN\">Youxin</a>Signed a US $315 million financing agreement. The remittance of two huge amounts of funds shows that the second-hand car e-commerce track is a good capital road and is being sought after by capital.</p><p>However, with the advancement of the market, Renrenche and Uxin used cars, which were once popular on the screen, quickly went out of the circle with the endorsement of celebrities such as Sun Honglei, Huang Bo, and Wang Baoqiang, but now they are facing negative dilemmas such as acquisition, salary cuts and layoffs, and the volume of the industry is gradually decreasing.</p><p>On the other hand, Autohome, which returned to Hong Kong for a secondary listing this year, according to the disclosed prospectus, its revenue in 2018, 2019, and 2020 was 7.233 billion yuan, 8.42 billion yuan, and 8.659 billion yuan respectively, and its annual net profit was 2.864 billion yuan, 3.2 billion yuan, and 3.4 billion yuan. Behind the phenomenon, it is actually the epitome of the Matthew effect in the industry.</p><p>In the development of an industry, with the acceleration of the market process, some enterprises are bound to gradually fall behind, and some enterprises will break through. This is the general law of developing the survival chain. Even under the market size of trillions, there are still only a few who can eat the cake.</p><p>But the development is still going on, and the business model is constantly changing. The intervention of emerging development technologies may be another opportunity for the players involved. Whether it can be changed or not is also a matter to continue to think about in the subsequent survival battle. question.</p><p><b>Digital intelligence accelerates,</b></p><p><b>Can the mid-tail platform break the existing predicament?</b></p><p>Looking at today's used car e-commerce market, the top players are like a fish in the water, while the middle and tail players are not happy. In addition to the suppression of the top players, they will also face the sharing of food from outsiders.</p><p>This year, BMW held the \"BMW Official Certified Used Car Festival\"; Audi and Lexus have successively launched officially certified used car activities; Lincoln launched its first independently certified second-hand car showroom in China in Beijing and announced the listing of its second-hand car business in China. In addition to traditional car companies, new energy vehicles have also begun to covet second-hand business. At the beginning of the year, Nio launched its official second-hand car business NIO Certified.</p><p>The competition trend is gradually strengthening, and the challenges are becoming more difficult. In addition, there are industry problems, such as information leakage,<a href=\"https://laohu8.com/S/BITA\">Easy car</a>As early as 2020, it was named by the Ministry of Industry and Information Technology for collecting user information in violation of regulations. Information asymmetry, tricky transaction links, inadequate after-sales service, etc. will all become obstacles to subsequent development.</p><p>With the superposition of multiple problems, the tail platform of used car e-commerce needs to find a breakthrough if it wants to gain a certain status in the Jianghu. With the acceleration of the wave of digital intelligence, it may be a good time for players of used car e-commerce.</p><p>According to Carvana, a second-hand car e-commerce company with strong performance in the U.S. stock market, its stock price rose by more than 130% last year, and its market value is more than twice that of the industry giant Carmax, but its trading volume is less than one-third. Similarly, there are used car auction company KAR and Internet auction platform ACV. The latter has a transaction volume of only 10% of the former, but its market value surpasses the former.</p><p><img src=\"https://static.tigerbbs.com/cf4dff8bd151e7d8895815ca54b0b020\" tg-width=\"640\" tg-height=\"421\" referrerpolicy=\"no-referrer\"></p><p>Among them, data-driven has contributed a lot. Under the data-driven business model, data is used to help car dealers improve vehicle replacement rate and disposal rate, reduce hard transaction costs, and greatly improve efficiency. This will also be the fulcrum of the entire industry chain upgrade.</p><p>The success of foreign companies is not occasional. With the acceleration of the digital intelligence process empowered by big data and AI, whoever seizes the opportunity to transform quickly first will have the advantage of getting out of the circle. This also provides the tail players in domestic second-hand car e-commerce. Provides direction.</p><p>On the one hand, aside from the past thinking of people looking for cars and advertising burning money, the current logic is to find people with cars, using data operations and circulation efficiency improvements to quickly gain insight into consumer needs and quickly meet supply.</p><p>On the other hand, big data and AI empowerment can predict hot-selling models in different regions. With the deep participation of leading dealers, vehicle data sharing and cross-regional circulation can be realized, making used car garages in different regions transparent.</p><p>In addition, short videos and live broadcasts are booming nowadays, which is also an important way for players to rebuild their trust system and de-stigma. Only by subverting traditional thinking and driven by data and artificial intelligence can the middle and tail players break through the bottleneck and achieve a breakthrough in the existing pattern.</p><p>But looking back at the current second-hand car e-commerce industry, it has strong offline transaction attributes. It is a business that relies heavily on offline and requires huge advertising investment. Under this model, the industry is easy to fall into the vicious circle of \"continuous burning of money-difficult to make profits-continue financing\", which also makes it still challenging for middle and tail players to subvert the pattern.</p><p>Generally speaking, second-hand car e-commerce is now in the blue ocean. Under the huge imagination of the market, players are also flocking in. However, under the Matthew effect, it is not easy for mid-and tail-end companies to get out of the circle. With the acceleration of digital intelligence, it may be a good path to take advantage of the situation, but whether it is the optimal solution remains to be explained by consumers.</p>","source":"lsy1567602064246","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>Under the wave of digital intelligence, how should the second-hand car e-commerce with \"chicken feathers all over the place\" break the situation?</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\">\nUnder the wave of digital intelligence, how should the second-hand car e-commerce with \"chicken feathers all over the place\" break the situation?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">港股研究社</strong><span class=\"h-time small\">2021-06-28 19:59</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The rise of the Internet has shocked all walks of life.</p><p>All fields of food, clothing, housing and transportation, which only have background colors, have begun to become colorful under the color palette of the Internet. Ali,<a href=\"https://laohu8.com/S/JD\">JD.com</a>, Meituan, Ctrip and other industry giants were born one after another.</p><p>After the large field was eroded by capital, its subdivision naturally became a new game place for players, and the e-commerce transaction of used cars was under such branches and leaves, which became an existence that cannot be ignored.</p><p>In March,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Successfully logged into Hong Kong stocks; Recently, the used car trading service platform \"Che Xiaoduo\" received Series A financing of USD 6 million.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Capital and Li Xingxing, the son of Geely Li Shufu, led the investment. It can be seen that the used car e-commerce market is being favored by capital, and the business on the table has aroused a lot of capital splash.</p><p><img src=\"https://static.tigerbbs.com/c94fb1303fbbf5af5002065cdc611e66\" tg-width=\"688\" tg-height=\"491\" referrerpolicy=\"no-referrer\"></p><p>With a market size of trillions, how will used car e-commerce tell about this business? In the market melee, how will the middle and tail platforms compete for a place?</p><p><b>\"Idle economy\" is in power</b></p><p><b>Business experience of used car e-commerce</b></p><p>From new to old, second-hand is a topic that can't be crossed, and once it evolves, it becomes a serious business.</p><p>The 618 that just passed is an e-commerce carnival and a second-hand 3C trading platform<a href=\"https://laohu8.com/S/RERE\">Love Recycling</a>Big day to go public. On the evening of June 18th, Aihuishou officially landed on Wall Street. The closing stock price rose 22.93% that day, with a total market value of US $3.793 billion. Aihuishou, which was supported by JD.com, suddenly pushed the second-hand business to another climax.</p><p>Nowadays, the idle economy is booming, and second-hand e-commerce is becoming a new blue ocean. According to data from iiMedia Consulting, the transaction scale of my country's second-hand e-commerce industry in 2019 was 259.69 billion yuan, a year-on-year increase of 53.2%, and the transaction scale in 2020 reached 374.55 billion yuan.</p><p>Under the rapid expansion of the market, contestants continue to rise. In addition to top players such as Xianyu, Zhuanzhuan, and Aihuishou, back-wave players such as Huishoubao, Lezhuanji, and Flash Huishou continue to emerge on the track, rapidly stirring up capital together. Before the Spring Festival this year, Zhuan Zhuan received US $390 million in financing, which is currently the largest single cash financing in the domestic second-hand e-commerce field.</p><p>The vane of capital is often the hot market orientation, all of which indicate that second-hand business is a good business. Under this background, it is naturally a rare and good way to classify second-hand car transactions in the second-hand market.</p><p>According to the latest statistics from the Ministry of Public Security, as of the end of 2020, the number of cars in my country has reached 281 million. Compared with the United States, which has the largest car ownership in the world, the gap has also narrowed to 6 million vehicles. It is estimated that in June this year, it will surpass the United States for the first time and become the country with the largest car ownership in the world. With such a large volume, it also means that the domestic used car market will simultaneously usher in new opportunities and become a rare good cake.</p><p>Under the consumption feast, there is actually a deeper meaning hidden. According to data from iiMedia Consulting, in 2021, 43.7% of Chinese netizens often use second-hand e-commerce platforms. Behind this is the improvement of national purchasing power and the change of consumption concept, which has given birth to the growth of the second-hand market. Under the upgrading of consumption, a large number of idle items need such a platform to digest, so that resources can continue to exert their surplus value.<img src=\"https://static.tigerbbs.com/064249fb6d5db714ab689004199758e5\" tg-width=\"900\" tg-height=\"822\" referrerpolicy=\"no-referrer\"></p><p>In addition, the second-hand e-commerce platform has rapidly increased the market popularity of second-hand transactions with the blessing of a number of celebrity Internet celebrities, such as Sun Li, Wei Ya, Orfila, etc.</p><p>However, taking advantage of the new trend of the second-hand economy, the second-hand car trading platform has a bright development prospect at the right time, place and people, but instead of entering such a bonus track, can big and small players live smoothly?</p><p><b>Trillion market size</b></p><p><b>Matthew effect is obvious</b></p><p>In recent years, the scale of the second-hand car trading market has been expanding. According to the data of Qianzhan Industry Research Institute, the market size has reached 935.686 billion yuan in 2019. Despite the impact of the epidemic in 2020, it only dropped by 5% year-on-year to 888.837 billion yuan. In the first quarter of 2021, the scale was about 247.577 billion yuan. With this growth rate, the market will reach a trillion-dollar scale.</p><p><img src=\"https://static.tigerbbs.com/d6b716135839c4f1a2ac05d064e05b4f\" tg-width=\"840\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>Under the huge market space, it obviously gives second-hand car e-commerce a huge room for imagination. In addition, the continuous COVID-19 pandemic has caused a shortage of new car chips, which directly causes the supply side of new cars to face challenges, which has also caused second-hand car assets worldwide. Prices soared.</p><p>From a foreign perspective, the performance of CarMax, the traditional second-hand car retail industry giant in the United States, continues to hit new highs, with sales reaching 1.18 million units in 2020. Today's industry leader and upstart company Carvana sold 300,000 units last year. In 2020, its stock price rose tenfold, and its market value is about 50 billion dollars.</p><p>Domestically, in June this year, Guazi's second-hand parent company Chehaoduo completed US $300 million in financing, followed by the second-hand platform<a href=\"https://laohu8.com/S/UXIN\">Youxin</a>Signed a US $315 million financing agreement. The remittance of two huge amounts of funds shows that the second-hand car e-commerce track is a good capital road and is being sought after by capital.</p><p>However, with the advancement of the market, Renrenche and Uxin used cars, which were once popular on the screen, quickly went out of the circle with the endorsement of celebrities such as Sun Honglei, Huang Bo, and Wang Baoqiang, but now they are facing negative dilemmas such as acquisition, salary cuts and layoffs, and the volume of the industry is gradually decreasing.</p><p>On the other hand, Autohome, which returned to Hong Kong for a secondary listing this year, according to the disclosed prospectus, its revenue in 2018, 2019, and 2020 was 7.233 billion yuan, 8.42 billion yuan, and 8.659 billion yuan respectively, and its annual net profit was 2.864 billion yuan, 3.2 billion yuan, and 3.4 billion yuan. Behind the phenomenon, it is actually the epitome of the Matthew effect in the industry.</p><p>In the development of an industry, with the acceleration of the market process, some enterprises are bound to gradually fall behind, and some enterprises will break through. This is the general law of developing the survival chain. Even under the market size of trillions, there are still only a few who can eat the cake.</p><p>But the development is still going on, and the business model is constantly changing. The intervention of emerging development technologies may be another opportunity for the players involved. Whether it can be changed or not is also a matter to continue to think about in the subsequent survival battle. question.</p><p><b>Digital intelligence accelerates,</b></p><p><b>Can the mid-tail platform break the existing predicament?</b></p><p>Looking at today's used car e-commerce market, the top players are like a fish in the water, while the middle and tail players are not happy. In addition to the suppression of the top players, they will also face the sharing of food from outsiders.</p><p>This year, BMW held the \"BMW Official Certified Used Car Festival\"; Audi and Lexus have successively launched officially certified used car activities; Lincoln launched its first independently certified second-hand car showroom in China in Beijing and announced the listing of its second-hand car business in China. In addition to traditional car companies, new energy vehicles have also begun to covet second-hand business. At the beginning of the year, Nio launched its official second-hand car business NIO Certified.</p><p>The competition trend is gradually strengthening, and the challenges are becoming more difficult. In addition, there are industry problems, such as information leakage,<a href=\"https://laohu8.com/S/BITA\">Easy car</a>As early as 2020, it was named by the Ministry of Industry and Information Technology for collecting user information in violation of regulations. Information asymmetry, tricky transaction links, inadequate after-sales service, etc. will all become obstacles to subsequent development.</p><p>With the superposition of multiple problems, the tail platform of used car e-commerce needs to find a breakthrough if it wants to gain a certain status in the Jianghu. With the acceleration of the wave of digital intelligence, it may be a good time for players of used car e-commerce.</p><p>According to Carvana, a second-hand car e-commerce company with strong performance in the U.S. stock market, its stock price rose by more than 130% last year, and its market value is more than twice that of the industry giant Carmax, but its trading volume is less than one-third. Similarly, there are used car auction company KAR and Internet auction platform ACV. The latter has a transaction volume of only 10% of the former, but its market value surpasses the former.</p><p><img src=\"https://static.tigerbbs.com/cf4dff8bd151e7d8895815ca54b0b020\" tg-width=\"640\" tg-height=\"421\" referrerpolicy=\"no-referrer\"></p><p>Among them, data-driven has contributed a lot. Under the data-driven business model, data is used to help car dealers improve vehicle replacement rate and disposal rate, reduce hard transaction costs, and greatly improve efficiency. This will also be the fulcrum of the entire industry chain upgrade.</p><p>The success of foreign companies is not occasional. With the acceleration of the digital intelligence process empowered by big data and AI, whoever seizes the opportunity to transform quickly first will have the advantage of getting out of the circle. This also provides the tail players in domestic second-hand car e-commerce. Provides direction.</p><p>On the one hand, aside from the past thinking of people looking for cars and advertising burning money, the current logic is to find people with cars, using data operations and circulation efficiency improvements to quickly gain insight into consumer needs and quickly meet supply.</p><p>On the other hand, big data and AI empowerment can predict hot-selling models in different regions. With the deep participation of leading dealers, vehicle data sharing and cross-regional circulation can be realized, making used car garages in different regions transparent.</p><p>In addition, short videos and live broadcasts are booming nowadays, which is also an important way for players to rebuild their trust system and de-stigma. Only by subverting traditional thinking and driven by data and artificial intelligence can the middle and tail players break through the bottleneck and achieve a breakthrough in the existing pattern.</p><p>But looking back at the current second-hand car e-commerce industry, it has strong offline transaction attributes. It is a business that relies heavily on offline and requires huge advertising investment. Under this model, the industry is easy to fall into the vicious circle of \"continuous burning of money-difficult to make profits-continue financing\", which also makes it still challenging for middle and tail players to subvert the pattern.</p><p>Generally speaking, second-hand car e-commerce is now in the blue ocean. Under the huge imagination of the market, players are also flocking in. However, under the Matthew effect, it is not easy for mid-and tail-end companies to get out of the circle. With the acceleration of digital intelligence, it may be a good path to take advantage of the situation, but whether it is the optimal solution remains to be explained by consumers.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/pFV5FJHqsClqD9buLPfx7Q\">港股研究社</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c94fb1303fbbf5af5002065cdc611e66","relate_stocks":{"UXIN":"优信"},"source_url":"https://mp.weixin.qq.com/s/pFV5FJHqsClqD9buLPfx7Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185593408","content_text":"互联网的兴起，震撼着各行各业。\n仅有底色的衣食住行各领域，在互联网的调色盘之下开始变得绚丽多彩，阿里、京东、美团、携程等行业巨头相继诞生。\n而在大领域被资本蚕食之后，其细分领域自然变成了玩家们新的游戏场所，二手车电商交易就处在这样的枝叶之下，成为了不容忽视的存在。\n今年3月，汽车之家成功登录港股；近日，二手车交易服务平台“车小多”获A轮600万美元融资，蔚来资本及吉利李书福之子李星星领投。可见，二手车电商市场正备受资本青睐，摆上台面的生意已激起不少资本水花。\n\n在数万亿市场规模下，二手车电商又将如何讲述这门生意？市场混战中，中尾部平台又将如何争的一席之地？\n“闲置经济”当道\n二手车电商的生意经\n从新到旧，二手俨然是跨不过的话题，一经演变就成了一门正经生意。\n刚过去的618属电商的狂欢节，也是二手3C交易平台爱回收上市的大日子。6月18日晚，爱回收正式登录华尔街，当日收盘股价涨22.93%，总市值达37.93亿美元，获京东力挺的爱回收俨然将二手生意推向了另一个高潮。\n且如今闲置经济旺盛，二手电商正成为新的蓝海。根据艾媒咨询数据显示，2019年我国二手电商行业交易规模为2596.9亿元，较上年同比增53.2%，2020年交易规模达3745.5亿元。\n在市场急速扩展之下，参赛选手不断崛起，除闲鱼、转转、爱回收等头部玩家，赛道不断涌现回收宝、乐换机、闪回收等后浪玩家，一起飞速搅热资本。今年春节前，转转获3.9亿美元融资，这也是目前国内二手电商领域最大单笔现金融资。\n资本的风向标往往是市场火热的导向，无一不表明着二手生意是门好生意，此背景下，二手市场细分类二手车交易自然也是不可多得的好门路。\n据公安部最新统计数据显示，截止2020年底，我国汽车保有量已达2.81亿辆。跟全球汽车保有量第一的美国相比，差距也已缩小至600万辆。预估今年6月将会首次超越美国，成全球汽车保有量第一的国家。如此大的体量之下，也意味着国内二手车市场将同步迎来新的机遇，成为难得的好蛋糕。\n而在消费盛宴之下，其实也隐藏着更深层次的意义。根据艾媒咨询数据，2021年中国网民经常使用二手电商平台占比达43.7%。这背后是国民购买力的提升及消费观念的转变，催生着二手市场的滋长。消费升级之下，大量的闲置物品需要这样的平台去消化，让资源继续发挥其剩余价值。\n此外，二手电商平台在一众明星网红，如孙俪、薇娅、吴昕等加持之下，也迅速提升了二手交易的市场热度。\n然而，乘着二手经济这波新风口，二手车交易平台在天时地利人和之下，发展前景明朗，但是不是进入这样的红利赛道，大小玩家就能过的顺风顺水？\n万亿市场规模\n马太效应明显\n近年来的二手车交易市场规模不断扩大，根据前瞻产业研究院数据，2019年市场规模已达9356.86亿元，2020年虽有疫情影响，同比也只下降5%为8888.37亿元，2021年第一季度，规模约2475.77亿元，随着这样的增速，市场将达万亿规模。\n\n庞大市场空间之下，显然给了二手车电商巨大的想象空间，另加持续的新冠疫情造成新车芯片供给短缺，直接造成新车的供给侧面临挑战，这也使得世界范围内的二手车资产价格大涨。\n国外来看，美国二手车零售传统行业巨头CarMax业绩不断创新高，2020年销量达118万台，如今的行业翘楚新贵企业Carvana，去年销量为30万台，2020年股价大涨十倍，市值约500亿美元。\n国内来看，今年6月瓜子二手母公司车好多完成3亿美元融资，紧接着二手车平台优信签署3.15亿美元融资协议。两笔巨额资金的汇入，显露着二手车电商赛道是条不错的资本之路，正受资本追捧。\n然而随着市场的前进，曾火爆荧屏的人人车、优信二手车，在孙红雷、黄渤、王宝强等明星代言之下，迅速出圈，但如今却面临被收购、降薪裁员等负面困局，行业音量逐渐变低。\n反观今年回港二次上市的汽车之家，根据根据披露的招股书显示，其在2018年、2019年、2020年营收分别为72.33亿元、84.2亿元、86.59亿元，年度净利润为28.64亿元、32亿元、34亿元。现象背后，事实上却是行业马太效应的缩影。\n在一个行业的发展中，随着市场进程的加快，势必会有企业渐渐掉队，有企业获得突围，这是发展生存链的一般规律，即使在数万亿市场规模之下，能吃到蛋糕的仍只是少数。\n可发展仍在继续，商业模式也在不断的变化，新兴发展技术的介入，或对身处其中的玩家来讲又是另一番机会，到底能不能有所改变，也是后续生存大战继续要思考的问题。\n数智化加速，\n中尾部平台能否打破现有困境？\n纵观如今的二手车电商市场，头部玩家如鱼得水，而中尾部玩家过的却并不尽如意，除头部玩家打压之外，还将面临外来者的分食。\n今年宝马召开“BMW官方认证二手车节”；奥迪和雷克萨斯相继开启官方认证二手车活动；林肯在北京落地首个中国独立认证二手车展厅，宣布在华二手车业务上市。除传统车企，新能源汽车也开始觊觎二手生意，年初蔚来推出官方二手车业务NIO Certified。\n竞争趋势逐渐加强，挑战也愈发艰巨，另加行业问题的存在，如信息泄露，易车早在2020年就因违规收集用户信息被工信部点名，信息不对称、交易环节猫腻多、售后服务不到位等等，都将成为后续发展的阻碍。\n多重问题的叠加，二手车电商中尾部平台要想获得一定的江湖地位，需要找寻突破口。而随着如今数智化浪潮加快，对于二手车电商的玩家来说，或是个好时机。\n根据美股市场表现强劲的二手车电商Carvana来看，去年股价涨幅超130%，市值已是行业巨头Carmax两倍多，但成交量还不及其三分之一。同样的还有二手车拍卖公司KAR和互联网拍卖平台ACV，后者交易量只有前者10%，市值却反超前者。\n\n在这其中，数据驱动贡献了不小的力量，在数据驱动商业模式下，通过数据帮助汽车经销商提高车辆置换率和处置率，降低交易硬性成本，大大的提升了效率，这也将是整个行业链升级的支点。\n国外企业的成功并非偶尔，随着大数据、AI赋能的数智化进程加快，谁先抓住机遇快速转变，也就拥有了出圈的优势，这也为国内二手车电商中尾部玩家提供了方向。\n一方面，抛除过去人找车、广告烧钱的思维，当前的逻辑是车找人，利用数据运营和流通效率提升，快速洞察消费者的需求并快速满足供给。\n另一方面，大数据和AI赋能，对不同地区热销车型进行预测，在头部经销商深度参与之下，实现车辆数据共享和跨区域流转，让不同地区的二手车库透明化。\n此外，如今短视频、直播风起正盛，也是玩家们重建信任体系、去污名的重要途径。中尾部玩家只有颠覆传统思维，在数据和人工智能双轮驱动之下才能突破瓶颈，实现现有格局的突破。\n但回看目前二手车电商行业，具有极强的线下交易属性，是一个极度依赖线下的业务，同时需要巨额的广告投入，在这一模式下，行业容易陷入“持续烧钱—难以盈利—继续融资”的怪圈，这也使得中尾部玩家颠覆格局仍有一定的挑战。\n总的来说，二手车电商如今已身处蓝海，市场巨大想象力之下，玩家们也是蜂拥涌入，但马太效应下，中尾部企业要想出圈并不容易，而随着数智化进展的加快，借势其中或是条不错的路径，但到底是不是最优解还得待消费者来解说。","news_type":1,"symbols_score_info":{"UXIN":0.9}},"isVote":1,"tweetType":1,"viewCount":974,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127303731,"gmtCreate":1624833196323,"gmtModify":1703845568283,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127303731","repostId":"1153717092","repostType":4,"repost":{"id":"1153717092","kind":"news","weMediaInfo":{"introduction":"致力于提供最及时的财经资讯，最专业的解读分析，覆盖宏观经济、金融机构、A股市场、上市公司、投资理财等财经领域。","home_visible":1,"media_name":"券商中国","id":"9","head_image":"https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f"},"pubTimestamp":1624760568,"share":"https://ttm.financial/m/news/1153717092?lang=en_US&edition=fundamental","pubTime":"2021-06-27 10:22","market":"sh","language":"zh","title":"How to mine ten times bull stocks? Actually, it's right by your side!","url":"https://stock-news.laohu8.com/highlight/detail?id=1153717092","media":"券商中国","summary":"人们渴求十倍股，总感觉踏破铁鞋无觅处，但却忽视了来自身边的大牛股：比如厨房里的安琪酵母、海天味业、伊利股份；客厅里的格力电器、美的集团、石头科技和科沃斯；教室里的晨光文具、李宁；化妆台上的华熙生物、珀","content":"<p>People are eager for ten times stocks, and they always feel that they have nowhere to find after stepping through iron shoes, but they ignore the big bull stocks from around them: such as those in the kitchen<a href=\"https://laohu8.com/S/600298\">Angel yeast</a>、<a href=\"https://laohu8.com/S/603288\">Haitian Flavor Industry</a>、<a href=\"https://laohu8.com/S/600887\">Yili shares</a>； In the living room<a href=\"https://laohu8.com/S/000651\">Gree Electric</a>、<a href=\"https://laohu8.com/S/000333\">Midea Group</a>、<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>And<a href=\"https://laohu8.com/S/603486\">Cobos</a>； In the classroom<a href=\"https://laohu8.com/S/603899\">Chenguang Stationery</a>、<a href=\"https://laohu8.com/S/02331\">Li Ning</a>； On the dressing table<a href=\"https://laohu8.com/S/688363\">Huaxi Biotech</a>、<a href=\"https://laohu8.com/S/603605\">Proya</a>……</p><p>In investment, the password of big bull stocks is often hidden in daily life. In September, 2016, a friend's child was promoted to the first grade of primary school. The class teacher of this little classmate is a special teacher with more than 20 years of teaching experience. Because he is extremely concerned about students' writing beauty and the cleanliness of the roll surface, this teacher recommended an eraser printed with Miffy Rabbit. The reason for the recommendation is that it is cleaner than other brands of erasers. The manufacturer of this eraser is Chenguang Stationery. This child is now in the fifth grade, and Chenguang Stationery has increased nearly four times in the past five years.</p><p>There is no secret for stock selection. In fact, whether it is the stock god Buffett or the \"most legendary fund manager in history\" Peter Lynch, they all call themselves \"technophobes\", and their super bull stocks mostly come from simple and easy business. Understand consumer stocks, such as Buffett's<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>See's Candy and Apple, Peter Lynch's<a href=\"https://laohu8.com/S/HD\">Home Depot</a>、<a href=\"https://laohu8.com/S/DNKN\">Tang En Dole</a>Doughnuts and<a href=\"https://laohu8.com/S/MCD\">McDonald's</a>And other companies.</p><p>Ordinary investors may not be able to understand which company is competitive in the high-tech industry, the position of the macroeconomic cycle, or the leverage of financial companies, but they have basic judgment on the quality of soy sauce, the popularity of stationery, and the quality of cosmetics. Whether the brand is deeply rooted in the hearts of the people and whether household appliances are good.</p><p>Stocks are not codes, behind them are living companies. The first principle of investing is to know what you are buying, and the main reason why investors suffer heavy losses is to follow the trend and buy companies that they don't understand.</p><p>Consumer stocks around them, such as \"food, clothing, housing and transportation\", have two characteristics: easy tracking and clear and understandable business logic. As Liu Mingda, chairman of Mingda Investment, said, \"We prefer consumer stocks because consumer stocks are easier to predict. If there is no long-term belief in the future, it is difficult to make long-term money.\"</p><p>As Zhong Zhaomin, chairman of Oriental Marathon, said, \"Not understanding business logic is a terminal disease of investment, and researchers who can't smell money are unqualified.\"</p><p><b>You invest in companies, not markets</b></p><p>There is a stock that unfortunately caught up with the four-year consecutive bear market of A-shares after its listing on August 18, 2000. The Shanghai Composite Index soared from 2,100 points to 998 points on June 6, 2005; Since then, it has followed the ups and downs of the stock market, including the big bear market in 2008 and the huge shock in 2015. So far, the Shanghai Composite Index has only risen 67% from the stock's listing date, but this stock has risen nearly 10 times from its closing price on its first day.</p><p>This stock comes from Angel yeast in the kitchen. On August 8, 2000, the closing price of Angel Yeast on the first day of listing was 30.88 yuan, corresponding to a P/E of 70 times. After nearly 22 years, the share price of Angel Yeast has increased 10 times, and the restoration price is 330 yuan. In these 21 years, although Angel Yeast's P/E has dropped by half, its profit has increased by 32 times. The growth of income is the key to ensuring that this stock crosses the bull and bear trends. From the investment point of view, Angel Yeast's excess returns are not obvious, because the P/E corresponding to the company's listing at the beginning is relatively high.</p><p>It's not just Angel Yeast that comes out of the kitchen with 10 times stocks. Since its listing, Yili shares have risen more than 300 times.<a href=\"https://laohu8.com/S/000895\">Shuanghui Development</a>It rose 45 times,<a href=\"https://laohu8.com/S/603345\">Yasui Foods</a>It rose 14 times, Haitian Flavor Industry rose 11 times,<a href=\"https://laohu8.com/S/600305\">Heng Shun Vinegar Industry</a>It went up 8 times...</p><p>In the big consumption track, light medical beauty stocks have been unstoppable in the past two years. Interested female consumers over 40 will easily find that micro-adjustment and light medical beauty are increasingly becoming topics of great interest, whether it is the \"dormitory group\" of former universities or the \"mother group\" where children often gather.</p><p>In the eyes of many female consumers over 40 +, traditional daily care can no longer solve the problems caused by years such as skin spots and wrinkles, while \"girl needles\", \"hydrating needles\" and \"high body\" are subversive solutions. The consumer price of light medical beauty is not much different from the price of traditional high-end daily care products, but the effect of the former is almost immediately visible. Once a consumer comes into contact with \"light medical beauty\", her beauty-loving nature will prompt her to repeat in the following years. buy. High gross profit, repeated purchases and increased penetration rate are the three key factors that generate bull stocks.</p><p>Similarly, for teenagers, Li Ning's clothing has become more and more popular in recent years, and even Li Ning's skipping rope has become popular all over primary school campuses. Li Ning has been an out-and-out ten-fold stock in the past three years; Under the COVID-19 pandemic, because \"aunts\" are hard to find, Ecovacs and Roborock Technology sweep the floor<a href=\"https://laohu8.com/S/300024\">Robot</a>More and more appear in the living room, and Ecovacs has also become a tenfold stock in the past two years.</p><p>For individual investors, what you invest in is the company, not the market. Choosing the right excellent company is the key to successful investment. For investment, even if you avoid all the big drops, it will be in vain not to choose an excellent company. Only by choosing a good company and being a friend of time can you really benefit from the investment.</p><p><b>Why is it easier to make big money with bull stocks around you</b></p><p><b>For ordinary investors, most of the bull stocks around them are consumer stocks, and consumer stocks have two advantages: one is that the investment logic is simple, and the other is that they are easy to track.</b></p><p>From the perspective of business logic, consumer goods that occupy consumers' minds have the ability to raise prices, which will be manifested in a certain degree of price increase, and will not cause customer loss. The ability to raise prices will be reflected in the growth of corporate profits, and ultimately drive the stock price up.</p><p>If you are a housewife, you will naturally pay attention to the above-mentioned price increase trend of daily necessities in the kitchen: around 2010, 20g Angel yeast was about 1.5 yuan per bag, but now 5g Angel yeast is about 1 yuan per bag, and the price increase of yeast has been 1 ~ 2 times in the past ten years; At the beginning of 2000, the price of a barrel of 1.28 L Haitian gold soy sauce was around 9 yuan, but now the price of this variety is between 21-23 yuan, and Haitian extremely fresh soy sauce is above 26 yuan, which means that in the past 10 years, the price of Haitian soy sauce has unconsciously doubled.</p><p>If you are a high-end business person, you will naturally pay attention to the custom of \"no wine, no banquet\", while Feitian Maotai represents the owner's attitude of \"treating guests with the best wine\". In 1951, the ex-factory price of Moutai was 1.28 yuan per bottle, but now the ex-factory price of Pufei is 969 yuan per bottle. The annualized price increase of Moutai is more than 11%.</p><p>The price increase of the product will ultimately be reflected in the growth of the company's profits, and ultimately drive the stock price upward. Peter Lynch once took Philip Morris, a big bull stock that produces cigarettes, as an example: if the product price increases by 6%, the cost increases by 4%, and the corporate profit margin increases by 2%, it may not look bright, but if the company's profit margin is 10%, the company's annual revenue will increase by 20% (2%/10% = 20%).</p><p>Secondly, consumer goods manufacturers have abundant free cash flow, and their expansion does not depend on capital expenditure. However, because asset-heavy companies need to constantly upgrade their equipment to ensure their competitiveness, their cash inflows will flow out again at some point in time. If the essence of investment is \"buying stocks is buying companies, and buying companies is buying future cash flows\", consumer goods companies are more likely to get high valuations.</p><p>For ordinary investors, the characteristic of consumer stocks is that they are easy to track. Whether you are visiting supermarkets, visiting e-commerce, eating out or chatting with friends, you can find out about the sales of the products of the company you are tracking from different aspects. For investors, only continuous tracking can form long-term confidence and make long-term money.</p><p><b>Investments require continuous evaluation</b></p><p>A popular product is just a prompt for investors to pay attention to the company, and does not mean that the publicly traded company that makes the product is worth investing in. Although a great company needs great products, the popularity of products does not necessarily mean that the company has investment value. Good products are just important signals for interested investors.</p><p>The advertising slogan \"VV Soymilk, Happy and Happy\" made VV Soymilk a household name, but VV's share price was less than 20% higher than the closing price on the first day of listing on June 30, 2000;<a href=\"https://laohu8.com/S/000716\">Black sesame</a>Once the king of CCTV, the advertising slogan \"a strong fragrance, a wisp of warmth\" can bring back many consumers' childhood memories, but so far, the stock price of Black Sesame is still lower than the closing price of the first day of listing on April 18, 1997. The price is about 20%.</p><p>Although the stock prices of VV and Black Sesame performed poorly, it is not difficult for investors to find changes in consumer habits, so as to avoid losses in investment. In fact, with the improvement of living standards, milk has gradually replaced soy milk and sesame paste as the main breakfast drinks, and Yili shares have also become a big bull stock.</p><p>However, consumer goods companies generally have a relatively large chance of winning. According to the statistics of Chinese brokerage reporters, since 2000, among the 118 food and beverage stocks, 85 stocks have more than doubled, of which 25 stocks have increased more than 10 times, and only 7 stocks are in a state of decline.</p><p>In addition to perceiving the competitiveness of products, investors also need to continuously read annual reports and conduct comprehensive research and comprehensive evaluation of enterprises. The more details they have, the stronger their ability to predict the future.</p><p>In the era where the Internet is ubiquitous, the words and deeds of entrepreneurs, the strength of enterprises to launch new products, the competitive pattern of the industry, the brand power of enterprises, the channel power of enterprises and other information can be searched piece by piece like a puzzle. The richer and more detailed the information obtained, the stronger the investor's ability to predict the future of the enterprise. All this needs to be based on the cognition that buying stocks is buying companies.</p><p>In addition, investors should also have a basic judgment on valuation, but valuation does not mean that 50 times is overvaluation, and 20 times is undervaluation. The valuation of an enterprise must match the quality of the enterprise. Buffett invested in See's Candy in 1971. The company has contributed more than 100 times of Buffett's income in 50 years. So how should the valuation of See's Candy companies be given? However, in any case, overvaluation means that it may take a lot of time to digest the valuation, and if you read it wrong, you will suffer heavy losses.</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>How to mine ten times bull stocks? Actually, it's right by your side!</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\">\nHow to mine ten times bull stocks? Actually, it's right by your side!\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/9\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">券商中国 </p>\n<p class=\"h-time smaller\">2021-06-27 10:22</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>People are eager for ten times stocks, and they always feel that they have nowhere to find after stepping through iron shoes, but they ignore the big bull stocks from around them: such as those in the kitchen<a href=\"https://laohu8.com/S/600298\">Angel yeast</a>、<a href=\"https://laohu8.com/S/603288\">Haitian Flavor Industry</a>、<a href=\"https://laohu8.com/S/600887\">Yili shares</a>； In the living room<a href=\"https://laohu8.com/S/000651\">Gree Electric</a>、<a href=\"https://laohu8.com/S/000333\">Midea Group</a>、<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>And<a href=\"https://laohu8.com/S/603486\">Cobos</a>； In the classroom<a href=\"https://laohu8.com/S/603899\">Chenguang Stationery</a>、<a href=\"https://laohu8.com/S/02331\">Li Ning</a>； On the dressing table<a href=\"https://laohu8.com/S/688363\">Huaxi Biotech</a>、<a href=\"https://laohu8.com/S/603605\">Proya</a>……</p><p>In investment, the password of big bull stocks is often hidden in daily life. In September, 2016, a friend's child was promoted to the first grade of primary school. The class teacher of this little classmate is a special teacher with more than 20 years of teaching experience. Because he is extremely concerned about students' writing beauty and the cleanliness of the roll surface, this teacher recommended an eraser printed with Miffy Rabbit. The reason for the recommendation is that it is cleaner than other brands of erasers. The manufacturer of this eraser is Chenguang Stationery. This child is now in the fifth grade, and Chenguang Stationery has increased nearly four times in the past five years.</p><p>There is no secret for stock selection. In fact, whether it is the stock god Buffett or the \"most legendary fund manager in history\" Peter Lynch, they all call themselves \"technophobes\", and their super bull stocks mostly come from simple and easy business. Understand consumer stocks, such as Buffett's<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>See's Candy and Apple, Peter Lynch's<a href=\"https://laohu8.com/S/HD\">Home Depot</a>、<a href=\"https://laohu8.com/S/DNKN\">Tang En Dole</a>Doughnuts and<a href=\"https://laohu8.com/S/MCD\">McDonald's</a>And other companies.</p><p>Ordinary investors may not be able to understand which company is competitive in the high-tech industry, the position of the macroeconomic cycle, or the leverage of financial companies, but they have basic judgment on the quality of soy sauce, the popularity of stationery, and the quality of cosmetics. Whether the brand is deeply rooted in the hearts of the people and whether household appliances are good.</p><p>Stocks are not codes, behind them are living companies. The first principle of investing is to know what you are buying, and the main reason why investors suffer heavy losses is to follow the trend and buy companies that they don't understand.</p><p>Consumer stocks around them, such as \"food, clothing, housing and transportation\", have two characteristics: easy tracking and clear and understandable business logic. As Liu Mingda, chairman of Mingda Investment, said, \"We prefer consumer stocks because consumer stocks are easier to predict. If there is no long-term belief in the future, it is difficult to make long-term money.\"</p><p>As Zhong Zhaomin, chairman of Oriental Marathon, said, \"Not understanding business logic is a terminal disease of investment, and researchers who can't smell money are unqualified.\"</p><p><b>You invest in companies, not markets</b></p><p>There is a stock that unfortunately caught up with the four-year consecutive bear market of A-shares after its listing on August 18, 2000. The Shanghai Composite Index soared from 2,100 points to 998 points on June 6, 2005; Since then, it has followed the ups and downs of the stock market, including the big bear market in 2008 and the huge shock in 2015. So far, the Shanghai Composite Index has only risen 67% from the stock's listing date, but this stock has risen nearly 10 times from its closing price on its first day.</p><p>This stock comes from Angel yeast in the kitchen. On August 8, 2000, the closing price of Angel Yeast on the first day of listing was 30.88 yuan, corresponding to a P/E of 70 times. After nearly 22 years, the share price of Angel Yeast has increased 10 times, and the restoration price is 330 yuan. In these 21 years, although Angel Yeast's P/E has dropped by half, its profit has increased by 32 times. The growth of income is the key to ensuring that this stock crosses the bull and bear trends. From the investment point of view, Angel Yeast's excess returns are not obvious, because the P/E corresponding to the company's listing at the beginning is relatively high.</p><p>It's not just Angel Yeast that comes out of the kitchen with 10 times stocks. Since its listing, Yili shares have risen more than 300 times.<a href=\"https://laohu8.com/S/000895\">Shuanghui Development</a>It rose 45 times,<a href=\"https://laohu8.com/S/603345\">Yasui Foods</a>It rose 14 times, Haitian Flavor Industry rose 11 times,<a href=\"https://laohu8.com/S/600305\">Heng Shun Vinegar Industry</a>It went up 8 times...</p><p>In the big consumption track, light medical beauty stocks have been unstoppable in the past two years. Interested female consumers over 40 will easily find that micro-adjustment and light medical beauty are increasingly becoming topics of great interest, whether it is the \"dormitory group\" of former universities or the \"mother group\" where children often gather.</p><p>In the eyes of many female consumers over 40 +, traditional daily care can no longer solve the problems caused by years such as skin spots and wrinkles, while \"girl needles\", \"hydrating needles\" and \"high body\" are subversive solutions. The consumer price of light medical beauty is not much different from the price of traditional high-end daily care products, but the effect of the former is almost immediately visible. Once a consumer comes into contact with \"light medical beauty\", her beauty-loving nature will prompt her to repeat in the following years. buy. High gross profit, repeated purchases and increased penetration rate are the three key factors that generate bull stocks.</p><p>Similarly, for teenagers, Li Ning's clothing has become more and more popular in recent years, and even Li Ning's skipping rope has become popular all over primary school campuses. Li Ning has been an out-and-out ten-fold stock in the past three years; Under the COVID-19 pandemic, because \"aunts\" are hard to find, Ecovacs and Roborock Technology sweep the floor<a href=\"https://laohu8.com/S/300024\">Robot</a>More and more appear in the living room, and Ecovacs has also become a tenfold stock in the past two years.</p><p>For individual investors, what you invest in is the company, not the market. Choosing the right excellent company is the key to successful investment. For investment, even if you avoid all the big drops, it will be in vain not to choose an excellent company. Only by choosing a good company and being a friend of time can you really benefit from the investment.</p><p><b>Why is it easier to make big money with bull stocks around you</b></p><p><b>For ordinary investors, most of the bull stocks around them are consumer stocks, and consumer stocks have two advantages: one is that the investment logic is simple, and the other is that they are easy to track.</b></p><p>From the perspective of business logic, consumer goods that occupy consumers' minds have the ability to raise prices, which will be manifested in a certain degree of price increase, and will not cause customer loss. The ability to raise prices will be reflected in the growth of corporate profits, and ultimately drive the stock price up.</p><p>If you are a housewife, you will naturally pay attention to the above-mentioned price increase trend of daily necessities in the kitchen: around 2010, 20g Angel yeast was about 1.5 yuan per bag, but now 5g Angel yeast is about 1 yuan per bag, and the price increase of yeast has been 1 ~ 2 times in the past ten years; At the beginning of 2000, the price of a barrel of 1.28 L Haitian gold soy sauce was around 9 yuan, but now the price of this variety is between 21-23 yuan, and Haitian extremely fresh soy sauce is above 26 yuan, which means that in the past 10 years, the price of Haitian soy sauce has unconsciously doubled.</p><p>If you are a high-end business person, you will naturally pay attention to the custom of \"no wine, no banquet\", while Feitian Maotai represents the owner's attitude of \"treating guests with the best wine\". In 1951, the ex-factory price of Moutai was 1.28 yuan per bottle, but now the ex-factory price of Pufei is 969 yuan per bottle. The annualized price increase of Moutai is more than 11%.</p><p>The price increase of the product will ultimately be reflected in the growth of the company's profits, and ultimately drive the stock price upward. Peter Lynch once took Philip Morris, a big bull stock that produces cigarettes, as an example: if the product price increases by 6%, the cost increases by 4%, and the corporate profit margin increases by 2%, it may not look bright, but if the company's profit margin is 10%, the company's annual revenue will increase by 20% (2%/10% = 20%).</p><p>Secondly, consumer goods manufacturers have abundant free cash flow, and their expansion does not depend on capital expenditure. However, because asset-heavy companies need to constantly upgrade their equipment to ensure their competitiveness, their cash inflows will flow out again at some point in time. If the essence of investment is \"buying stocks is buying companies, and buying companies is buying future cash flows\", consumer goods companies are more likely to get high valuations.</p><p>For ordinary investors, the characteristic of consumer stocks is that they are easy to track. Whether you are visiting supermarkets, visiting e-commerce, eating out or chatting with friends, you can find out about the sales of the products of the company you are tracking from different aspects. For investors, only continuous tracking can form long-term confidence and make long-term money.</p><p><b>Investments require continuous evaluation</b></p><p>A popular product is just a prompt for investors to pay attention to the company, and does not mean that the publicly traded company that makes the product is worth investing in. Although a great company needs great products, the popularity of products does not necessarily mean that the company has investment value. Good products are just important signals for interested investors.</p><p>The advertising slogan \"VV Soymilk, Happy and Happy\" made VV Soymilk a household name, but VV's share price was less than 20% higher than the closing price on the first day of listing on June 30, 2000;<a href=\"https://laohu8.com/S/000716\">Black sesame</a>Once the king of CCTV, the advertising slogan \"a strong fragrance, a wisp of warmth\" can bring back many consumers' childhood memories, but so far, the stock price of Black Sesame is still lower than the closing price of the first day of listing on April 18, 1997. The price is about 20%.</p><p>Although the stock prices of VV and Black Sesame performed poorly, it is not difficult for investors to find changes in consumer habits, so as to avoid losses in investment. In fact, with the improvement of living standards, milk has gradually replaced soy milk and sesame paste as the main breakfast drinks, and Yili shares have also become a big bull stock.</p><p>However, consumer goods companies generally have a relatively large chance of winning. According to the statistics of Chinese brokerage reporters, since 2000, among the 118 food and beverage stocks, 85 stocks have more than doubled, of which 25 stocks have increased more than 10 times, and only 7 stocks are in a state of decline.</p><p>In addition to perceiving the competitiveness of products, investors also need to continuously read annual reports and conduct comprehensive research and comprehensive evaluation of enterprises. The more details they have, the stronger their ability to predict the future.</p><p>In the era where the Internet is ubiquitous, the words and deeds of entrepreneurs, the strength of enterprises to launch new products, the competitive pattern of the industry, the brand power of enterprises, the channel power of enterprises and other information can be searched piece by piece like a puzzle. The richer and more detailed the information obtained, the stronger the investor's ability to predict the future of the enterprise. All this needs to be based on the cognition that buying stocks is buying companies.</p><p>In addition, investors should also have a basic judgment on valuation, but valuation does not mean that 50 times is overvaluation, and 20 times is undervaluation. The valuation of an enterprise must match the quality of the enterprise. Buffett invested in See's Candy in 1971. The company has contributed more than 100 times of Buffett's income in 50 years. So how should the valuation of See's Candy companies be given? However, in any case, overvaluation means that it may take a lot of time to digest the valuation, and if you read it wrong, you will suffer heavy losses.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c40bd15c801a66dfaa1ebdc0a29a3567","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153717092","content_text":"人们渴求十倍股，总感觉踏破铁鞋无觅处，但却忽视了来自身边的大牛股：比如厨房里的安琪酵母、海天味业、伊利股份；客厅里的格力电器、美的集团、石头科技和科沃斯；教室里的晨光文具、李宁；化妆台上的华熙生物、珀莱雅……\n在投资中，日常生活里往往藏着大牛股的密码。2016年9月，有个朋友的小孩升入小学一年级，这位小同学的班主任是一位教龄超过20年的特级教师。由于极其关注学生书写美感和卷面整洁，这位老师推荐了一款印有米菲小兔的橡皮，推荐的理由是擦得比其它牌子橡皮更干净。而这款橡皮的生产商正是晨光文具，这位小朋友现在已经是五年级了，晨光文具在过去五年里也涨幅接近4倍。\n选股并无秘籍，其实无论是股神巴菲特，还是“历史上最传奇的基金经理”彼得·林奇，无不自称为“技术恐惧症者”，他们的超级大牛股也多来源于业务简单易懂的消费股，比如巴菲特的可口可乐、喜诗糖果和苹果公司，彼得·林奇的家得宝、唐恩都乐甜甜圈圈和麦当劳等公司。\n普通投资者可能无法看懂高科技行业里哪家公司具有竞争力，无法看懂宏观经济周期的位置，也无法看懂金融企业的杠杆，但对于酱油的品质、文具的受欢迎程度、化妆品的品牌是否深入人心、家用电器是否好使具有基本的判断力。\n股票不是代码，背后是一家家活生生的公司。投资的首要原则知道自己在买什么，而让投资者损失惨重的主要原因也是跟风买入，买了自己不懂的公司。\n“衣食住行”等身边的消费股具有容易跟踪和商业逻辑清晰易懂两大特征。正如明达投资董事长刘明达所说，“我们偏好消费股，是因为消费股更容易预测，如果对未来没有长期信念的话，难以赚到长期的钱。”\n也如东方马拉松董事长钟兆民所说，“不懂商业逻辑是投资的绝症，嗅不到金钱味道的研究员是不合格的。”\n你投资的是公司，而非大市\n有一只股票，2000年8月18日上市之后就非常不巧地赶上了A股四年连续大熊市，上证指数自2100点一路飞流直下到2005年6月6日的998点；此后它又跟随股市沉沉浮浮，包括2008年的大熊市和2015年的巨幅震荡。迄今为止，上证指数距离该股上市日仅上涨了67%，但这只股票却距离上市首日收盘价上涨了近10倍。\n这只个股就是来源于厨房里的安琪酵母。2000年8月8日，安琪酵母上市首日收盘价为30.88元，对应的市盈率为70倍。经过近22年的时间，安琪酵母的股价上涨了10倍，复权价为330元。在这21年时间中，尽管安琪酵母的市盈率下降了一半，但利润却增长了32倍，收益的增长是保证这只个股穿越牛熊的关键。从投资上来说，安琪酵母的超额收益并不明显，这是因为公司上市之初对应的市盈率相对较高。\n厨房里走出的10倍股不只是安琪酵母。自上市以来，伊利股份上涨了超300倍，双汇发展上涨了45倍，安井食品上涨了14倍、海天味业上涨了11倍、恒顺醋业上涨了8倍……\n在大消费赛道中，轻医美个股最近两年势不可挡。有心的40+以上女性消费者会非常容易发现，无论是曾经大学的“宿舍群”、还是孩子们常聚的“妈妈群”里，微调整和轻医美日渐成为兴趣浓厚的话题。\n在众多40+以上的女性消费者看来，传统的日常护理已经无法解决皮肤的斑点、起皱等岁月带来的问题，而“少女针”、“补水针”、“嗨体”等是颠覆性的解决之道。轻医美的消费价格与传统日常护理高端产品的价格相差不大，但前者的效果几乎是立等可见，消费者一旦接触到“轻医美”，爱美天性会促使她在此后的岁月中重复购买。而高毛利、重复购买和渗透率提升是产生牛股的三大关键因素。\n同样，对于青少年们来说，李宁的服装近年来越来越受欢迎，就连李宁牌的跳绳也火遍小学校园，李宁过去三年是不折不扣的十倍股；新冠疫情之下，由于“阿姨”难寻，科沃斯和石头科技的扫地机器人越来越多出现在客厅里，科沃斯过去两年也成为一只十倍股。\n对于个人投资者来说，你所投资的是公司，而非大市，选对卓越的公司才是投资成功的关键。对于投资来说，即使回避了所有的大跌，选不到优秀的公司也枉然。只有选到好的公司，做时间的朋友，才能真正在投资中获益。\n身边的牛股为何更容易赚大钱\n对于普通投资者来说，身边的牛股多为消费股，而消费股具有两大优势：一是投资逻辑简单，二是容易跟踪。\n从商业逻辑上来说，占领消费者心智的消费品具有提价能力，它会表现在一定程度的提价，也不会造成客户流失，而提价能力会反映在企业利润的增长上，最终推动股价上涨。\n如果你是一位家庭主妇，会很自然地关注到，上述厨房里的日常用品涨价趋势：2010年左右，20克装的安琪酵母大约每袋1.5元左右，但现在5克装的安琪酵母每袋大约在1元左右，过去十年间酵母涨价幅度在1～2倍；2000年初期，一桶1.28L的海天金牌酱油的价格是9元左右，但现在这个品种的价格是在21-23元之间，而海天味极鲜酱油更是在26元之上，这意味着在过去10多年的时间里，海天酱油的价格在不知不觉中提升了大约1倍多。\n如果你是高端商务人士，也会很自然关注到“无酒不成席”的习俗，而飞天茅台则代表了主人“以最好的酒来待客”的态度。1951年出厂的茅台酒价格为每瓶1.28元，而现在普飞的出厂价为每瓶969元，茅台酒年化的提价幅度大于11%。\n产品的提价最终会反映在公司利润的增长上，并最终推动股价上行。彼得·林奇曾以生产香烟的大牛股菲利普·莫里斯为例：如果产品售价提升6%，成本提升4%，企业利润率增长2%，可能看起来并不亮眼，但如果公司的利润率是10%，公司的每年收益就会增长20%（2%/10%=20%）。\n其次，消费品生产企业自由现金流充沛，它们的扩张并不依赖于资本支出。而重资产型公司因为企业需要不断更新换代设备才能保证竞争力，它的现金流入会在某个时点再次大量流出。如果投资的本质是“买股票就是买公司，买公司就是买未来现金流”，消费品企业更容易得到高估值。\n对于普通投资者来说，消费股的特性还在于容易跟踪，无论是逛超市，逛电商、下馆子或者和朋友闲聊，你都可以从不同侧面打听到自己所跟踪公司产品的销售情况。对于投资者来说，也只有持续的跟踪，才能形成长期的信心，从而赚到长期的钱。\n投资需要持续评估\n受欢迎的产品只是提示投资者关注该公司，并不代表生产该产品的上市公司就值得投资。虽然伟大的公司要有伟大的产品，但产品受欢迎并不一定意味着公司就有投资价值，好的产品只是给有心投资者的重要提示信号。\n“维维豆奶、欢乐开怀”的广告词让维维豆奶家喻户晓，但维维的股价距离2000年6月30日的上市首日收盘价仅高出不到20%；黑芝麻也曾是央视标王，“一股浓香、一缕温暖”的广告词可以勾起诸多消费者儿时的回忆，但迄今为止，黑芝麻的股价仍低于1997年4月18日上市首日收盘价约20%的幅度。\n尽管维维股份和黑芝麻的股价表现不佳，但投资者并不难发现消费者习惯的变化，从而避开投资中的亏损。其实，随着生活水平的提高，牛奶早已逐渐替代了豆奶和芝麻糊等成为早餐的主要饮品，伊利股份也成为了一只大牛股。\n不过，消费品公司的赢面总体相对较大。券商中国记者的统计数据显示，自2000年以来，在食品饮料的118只个股里，85只个股涨幅超过1倍，其中包含25只个股涨幅超过10倍，仅有7只个股处于下跌状态。\n除了感知到产品的竞争力外，投资者还需要连续阅读年报，并对企业进行全面的研究和综合的评估，掌握的细节越多，对未来的预测能力就越强。\n在互联网无处不在的时代，企业家的一言一行，企业推出新产品的力度，行业的竞争格局，企业的品牌力，企业的渠道力等等信息是可以如同拼图一般被一块块搜寻到。获得的信息越丰富细致，投资者对该企业的未来预测能力就越强。这一切都需要建立在买股票就是买公司的认知基础之上。\n除此之外，投资者还应该对估值有基本的评判，但估值并不意味着50倍就是高估，20倍就是低估，企业的估值要与企业的质地相匹配。巴菲特投资1971年投资了喜诗糖果，该公司在50年的时间里为巴菲特贡献了超过百倍的收益，那么喜诗糖果类的公司估值应该如何给呢？不过，无论如何，高估意味着可能会花费大量的时间消化估值，如果看错了更是损失惨重。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":678,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127303549,"gmtCreate":1624833180381,"gmtModify":1703845568122,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127303549","repostId":"1181620560","repostType":4,"repost":{"id":"1181620560","kind":"news","pubTimestamp":1624761552,"share":"https://ttm.financial/m/news/1181620560?lang=en_US&edition=fundamental","pubTime":"2021-06-27 10:39","market":"sh","language":"zh","title":"Attention! This leading stock in the industry chain has been swept by northbound funds for five consecutive weeks!","url":"https://stock-news.laohu8.com/highlight/detail?id=1181620560","media":"上海证券报","summary":"本周A股三大股指全线上扬，沪指收复3600点整数关口。两市交易额连续6个交易日突破万亿元。本周北向资金先抑后扬，大举扫货，全周合计净买入209.77亿元。\n苹果产业链再次迎来爆发\n6月25日，苹果产业","content":"<p><div>This week, the three major A-share stock indexes rose across the board, and the Shanghai Composite Index regained the 3,600-point integer mark. The transaction volume of the two cities exceeded one trillion yuan for six consecutive trading days. This week, northbound funds first declined and then rose, sweeping goods on a large scale, with a total net purchase of 20.977 billion yuan throughout the week. Apple's industry chain ushered in another outbreak. On June 25, Luxshare Precision, the leading stock in Apple's industry chain, was rumored to be expected to win iPhone assembly orders. Its stock price once rose by 9%, attracting market attention. After-hours trading information shows that Luxshare Precision was listed on the top ten actively traded stocks four times this week, and received a total net purchase of 1.8 billion yuan from northbound funds. Choice data shows that June 21...</p><p><a href=\"https://mp.weixin.qq.com/s/-JkH3YLvlBfd4vZPeulGdg\">Web link</a></div></p>","source":"shzqb","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>Attention! This leading stock in the industry chain has been swept by northbound funds for five consecutive weeks!</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\">\nAttention! This leading stock in the industry chain has been swept by northbound funds for five consecutive weeks!\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">上海证券报</strong><span class=\"h-time small\">2021-06-27 10:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>This week, the three major A-share stock indexes rose across the board, and the Shanghai Composite Index regained the 3,600-point integer mark. The transaction volume of the two cities exceeded one trillion yuan for six consecutive trading days. This week, northbound funds first declined and then rose, sweeping goods on a large scale, with a total net purchase of 20.977 billion yuan throughout the week. Apple's industry chain ushered in another outbreak. On June 25, Luxshare Precision, the leading stock in Apple's industry chain, was rumored to be expected to win iPhone assembly orders. Its stock price once rose by 9%, attracting market attention. After-hours trading information shows that Luxshare Precision was listed on the top ten actively traded stocks four times this week, and received a total net purchase of 1.8 billion yuan from northbound funds. Choice data shows that June 21...</p><p><a href=\"https://mp.weixin.qq.com/s/-JkH3YLvlBfd4vZPeulGdg\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/-JkH3YLvlBfd4vZPeulGdg\">上海证券报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4a10424fe3b1f29e8d28fdc0dc474e86","relate_stocks":{"002475":"立讯精密"},"source_url":"https://mp.weixin.qq.com/s/-JkH3YLvlBfd4vZPeulGdg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181620560","content_text":"本周A股三大股指全线上扬，沪指收复3600点整数关口。两市交易额连续6个交易日突破万亿元。本周北向资金先抑后扬，大举扫货，全周合计净买入209.77亿元。\n苹果产业链再次迎来爆发\n6月25日，苹果产业链龙头股立讯精密因传有望拿下iPhone组装订单，股价一度大涨9%，引发市场关注。\n盘后交易信息显示，立讯精密本周4次登上十大活跃成交股，获北向资金合计净买入18亿元。Choice数据显示，6月21日至25日，北向资金买入立讯精密4014.94万股，市值增幅8.44%。\n\n东方财富Choice数据\n值得一提的是，立讯精密连续五周获北向资金净买入。\n2020年7月17日，立讯精密发布公告，公司及控股股东立讯有限与纬创股份、WIN签署了《收购框架协议》，将以现金全资收购江苏纬创100%股权和昆山纬新21.88%股权。\n纬创股份曾是全球领先的ICT产业ODM厂商，主要客户为苹果、惠普等；其智能手机业务从2017年后全力转为苹果iPhone组装，业务主体在昆山纬新工厂。\n天风国际表示，在iPhone出货成长趋于稳定的趋势下，在找寻iPhone供应链的投资机会时，可特别关注iPhone供应链的新进入者。在目前iPhone供应链中，立讯精密因2021年开始组装并出货iPhone，预计立讯精密的iPhone组装业务在2021年-2023年均有显著同比增长，为iPhone成长可见度高的最大受益者。预计立讯精密2021年iPhone出货量约1000万部，80%-90%为2021年下半年新款iPhone Pro。\n截至周五收盘，立讯精密已成为北向资金两市第17大重仓股，北向资金对其持股总市值目前为265.37亿元，年市值增幅达44.27%。\n\n来源：Choice数据\n从北向资金本周持股变动来看，净买入额居前三的股票是立讯精密、中国平安、美的集团，净买入额分别为18.00亿元、11.21亿元和9.79亿元。\n“牛市旗手”券商再度崛起\n本周五，沉寂近一个月的“牛市旗手”券商股再度走强，其中，东方财富获北向资金净买入6.54亿元，居当日净买入额之首，其市值升至3380亿元，超越中信证券成为A股市值最大的券商股。其他券商股方面，财达证券、中银证券、锦龙股份当日涨停，中金公司、国联证券上涨逾6%。\n中信建投表示，券商板块短期行情可乐观看待。支撑因素主要有三点：第一，估值低而业绩好；第二，社融增速下行周期或于6月见底，市场利率有望企稳，利于券商板块业绩与估值的改善；第三，年内深市股指期货等多项制度安排均可期待，为券商板块提供增量业绩来源。\n粤开证券研究院首席策略分析师陈梦洁认为，券商股具备安全边际，左侧交易者可予布局，特色券商兼具券商与科技属性，业绩弹性大。\n白酒行情是否还存在持续性\n此前，白酒股一向受北向资金的追捧，但从本周持股变动来看，泸州老窖遭北向资金净卖出3.60亿元，位居第三。\n\n来源：Choice数据\n从Choice数据来看，北向资金近期大幅减持白酒板块。截至周五收盘，五粮液、山西汾酒本周获北向资金净买入分别为3.58亿元、1.30亿元，而泸州老窖、贵州茅台、洋河股份、口子窖则遭北向资金净卖出3.60亿元、3.32亿元、1.19亿元、0.77亿元。\n6 月 23 日，广东省财政厅发布《关于广东省十三届人大四次会议第 1364 号代表建议答复的函》， 就广东省人大代表关于茅台与米酒同征 0.5 元/斤消费税的提议给予回复。\n川财证券表示，近期白酒板块出现一定程度的调整，行业呈现结构性繁荣。高端白酒批发价维持高位震荡，品牌价值稳固，就近期调研情况看，二季度业绩维持较高确定性。次高端白酒受益于高端白酒提价进入新成长周期，量价增长趋势不变，预计次高端价位产品在上半年仍将保持较高增速。\n中金公司认为，白酒销量增长乏力，“少喝酒、喝好酒”的消费观念+收入水平提高，驱动白酒消费升级，市场逐步向高价位白酒集中。未来3年—5年，行业仍将延续集中分化趋势，龙头地位或将进一步强化。优选高端、次高端等高景气赛道中的龙头品牌。","news_type":1,"symbols_score_info":{"002475":0.9}},"isVote":1,"tweetType":1,"viewCount":825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":121914611,"gmtCreate":1624449209533,"gmtModify":1703836991516,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/121914611","repostId":"1163510991","repostType":4,"repost":{"id":"1163510991","kind":"news","weMediaInfo":{"introduction":"中国最具影响力的财经新闻媒体《财经》携手道琼斯媒体集团，引入百年历史的《巴伦》（Barron's）独家内容，打造涵盖全球金融信息、市场动态、行业分析、公司研究及理财顾问评估的全球投资平台。","home_visible":1,"media_name":"Barrons巴伦","id":"1063202233","head_image":"https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab"},"pubTimestamp":1624447986,"share":"https://ttm.financial/m/news/1163510991?lang=en_US&edition=fundamental","pubTime":"2021-06-23 19:33","market":"us","language":"zh","title":"Berkey Investment: Meituan, Pinduoduo are the next Tesla-style enterprises","url":"https://stock-news.laohu8.com/highlight/detail?id=1163510991","media":"Barrons巴伦","summary":"总部位于爱丁堡的基金管理者柏基投资(Baillie Gifford)在过去110多年里，通过将信号与噪音分离开来，创造了令人瞩目的投资记录。该公司投资于具有长期增长潜力的公开上市公司和私有企业，而不考","content":"<p>Baillie Gifford, an Edinburgh-based fund manager, has set a remarkable investment record by separating signal from noise over the past 110 years. The firm invests in publicly traded and privately held companies with long-term growth potential, regardless of macroeconomic variables and short-term market volatility.</p><p>The company's long-term investment vision and familiarity with new technologies make Tom Slater, its head of U.S. equity assets and portfolio manager of U.S. stocks and long-term global growth funds, a natural choice for Barron's recent Centennial Roundtable, whose members will be tasked with imagining the next 100 years.</p><p>As a continuation of the conversation, below is an edited interview where we focus on the companies that offer the most exciting investment opportunities. Slater is co-manager with Barron Roundtable member James Anderson, managing the roughly £ 18 bn ($25 bn) Baillie Gifford's Scottish Mortgage Investment Trust (SMT) and the $145 million Baillie Gifford U.S. Equity Growth fund (BGGSX) Co-manager of. Both companies have a five-star rating from Morningstar. In the 12 months ended March 31, Scottish Mortgage Investment Trust rose 99%; In the year ending June 15, U.S. With a total return of 73%, the Equity Growth fund ranks among the top in Morningstar's big growth stock category.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a1e534c9728cc83586e06170e5574ff7\" tg-width=\"1080\" tg-height=\"720\"><span>Tom Slater, Photo: Photograph by Matt Marcus</span></p><p><b>Barron's: Growth stocks are facing challenges after a brilliant 2020. Are you worried about that?</b></p><p><b>Tom Slater</b>: We don't pay attention to short-term fluctuations in stock prices. We focus on interesting companies with long-term growth opportunities. Our average holding period is 5 to 10 years. Only in such a timeframe can fundamentals drive the stock price.</p><p>Many people try to focus on predicting economic variables. But they are inherently extremely difficult to predict, if not completely impossible. At the same time, there are many predictable trends in fields such as communications, computing, machine learning, energy generation and storage, gene sequencing, and synthetic biology. We focus on predictable trends and the opportunities they create.</p><p><b>Barron's: At our Centennial Roundtable, you observed that some technologies in biology, if not better than Moore's Law, at least follow a similar trajectory. How should investors profit from this?</b></p><p><b>Tom Slater</b>: The decline in the cost curve of gene sequencing is far greater than the decline in the cost of computing power under Moore's Law. Now, the cost reduction is expanding into related fields. Gene sequencing is generating large amounts of medical data, and the cost of processing and storing this data is rapidly falling, as is the cost of applying machine learning to this data.</p><p>One adjuvant therapy is our ability to start printing (copying) DNA or RNA. Moderna (MRNA) is printing RNA sequences. We are talking about programming biology, except that instead of encoding with 1s and zeros, we use Gs, Ts, As and Cs (guanine, thymine, adenine and cytosine-sequenced nucleic acid bases that make up the genome).</p><p>Moderna's ability to produce safe and effective vaccines based on messenger RNA should boost confidence in the company's ability to produce vaccines to meet other huge, unmet needs, such as for HIV/AIDS. Another synthetic biology company, Ginkgo Bioworks, will go public through a merger with a SPAC. It is writing strings of DNA code that can be used in biomanufacturing processes.</p><p><b>Barron's: Wouldn't Moderna's success attract competitors?</b></p><p><b>Tom Slater</b>: When a technology undergoes drastic changes, not just the evolution of an existing paradigm, it is often difficult for established companies to accept this change. More likely, this technology will empower new businesses and new business models. So far, this has been the case in the automotive industry with the development of electric vehicles or electric vehicles. Interestingly, pharmaceutical companies with large vaccine franchises have yet to develop an effective Novel Coronavirus vaccine.</p><p><b>Barron's: Speaking of electric vehicles, Baillie Gifford has cut her Tesla holdings from a peak position of more than 7% to less than 2%. Why is that?</b></p><p><b>Tom Slater</b>: We still have a large stake in Tesla. Part of this is because the sell-off reflects the strength of the company's stock price, as well as the company's operational success in driving the stock price higher. Part of the reason is that this sell-off is just considering the possibilities of looking up from here.</p><p><b>Barron's: Who is the next Tesla in electric vehicles and more broadly?</b></p><p><b>Tom Slater</b>: China is the largest auto market in the world, and I would be surprised if there were no domestic competitors in China to challenge Tesla.<b>We are investors in NIO (NIO), and NIO has the opportunity to be such a player.</b></p><p>What features make Tesla so interesting? With over 100 million cars sold each year, this is a huge market. They approached this in a unique way, with a founder and CEO bundling most of his wealth to the company. Tesla doggedly pursues a long-term vision and doesn't have to worry too much about what the stock market thinks. During our ownership, Tesla's stock price has fallen by more than 30% 10 times.</p><p>Moderna has platform-type technology with a wide enough application to be very interesting as well. Illumina (ILMN), which makes genome sequencing instruments, has a similar opportunity.<b>Chinese companies, such as Meituan (3690), which focuses on local services, and Pinduoduo (PDD) in the retail sector, are attractive, partly because of their ambitions, and they are gradually changing the entire supply chain of their industries.</b></p><p>In Western markets, delivering pre-processed foods began as an alternative to takeout, while in China, the scope is much larger because there is more culture of eating pre-processed foods. In China, kitchens in apartment buildings are getting smaller and smaller, and these apartment buildings are being designed for efficient food delivery service infrastructure. When you are building a reliable fast delivery infrastructure, related industries emerge as the times require.</p><p><b>ByteDance is also very charming</b>。 Its social media subsidiary TikTok has sparked controversy in the U.S., but ByteDance is 95% about China, how rapidly the company has grown in size in the domestic advertising market. In China, large enterprises led by founders are taking full advantage of the scale advantage of the domestic market.</p><p><b>Barron's: Do you prefer to invest in companies led by founders as CEOs?</b></p><p><b>Tom Slater</b>: We want to invest in companies led by people who optimize for long-term results. It's more common in founders, but that's not to say you can't see it in professional CEOs.</p><p>Since 2016, Francis deSouza has served as CEO of Immena. The company has a large revenue base, is highly profitable and is growing in a predictable way. Last year, based on its forecast of the market direction in the next 5 to 10 years, Inmena bid $8 billion to acquire Grail, a pre-revenue developer of cancer blood tests. The stock market doesn't like this practice, but it's exactly what founders do.</p><p><b>Barron's: Which Private Enterprises Should Investors Watch?</b></p><p><b>Tom Slater</b>: Private companies like ByteDance and SpaceX have a market value of tens of billions of dollars. SpaceX is trying to reduce the cost of getting into space by several orders of magnitude, and it is creating a new market: commercial access to space. We are also an investor in Relativity Space, which is using 3D printing technology to build rockets.</p><p><b>Barron's: Recently, you have reduced your holdings in Amazon.com. Why?</b></p><p><b>Tom Slater</b>: We have been shareholders of Amazon for 16 years. Before last year, any reduction was for diversification within the fund. But Amazon is still a huge market for us, and it still faces some major opportunities. The grocery business is one of them, a massive category that is slowly going online.</p><p>On the other hand, Jeffrey Bezos's retirement from the CEO position is an important factor in our analysis of the company, coupled with the recent retirement of Jeff Wilk, who runs the consumer goods business (Bezos will become executive chairman on July 5). If you think Bezos's vision and drive are important for Amazon to get this far, even his partial exit is a reason to be more cautious.</p><p><b>Barron's: What other investments are you excited about?</b></p><p><b>Tom Slater</b>: Lemonade (LMND) started out as a company selling renters insurance, and this company is perfect for online sales-especially mobile sales. This company creates a great consumer experience. It allows clients to designate a charity to accept excess floats in their insurance pool, which creates an incentive to not overstate claims. Renters insurance is usually the first insurance product people will buy. If the experience is great, they will consider purchasing the same brand of pet, car or homeowners insurance. Lemonade is building a modern technology stack in an industry where large vendors still run in mainstream frameworks.</p><p>We recently invested in 10X Genomics (TXG) and Recursion Pharmaceuticals (RXRX). The common theme, once again, is that the efficiency of applying information technology far exceeds that of existing companies.</p><p>Affirm Holdings (AFRM) also fits into this theme. Point-of-sale loans have traditionally been a bad experience for consumers, with high interest rates and hefty penalties if you don't pay. By using new technology, Affirm has created a more consumer-oriented experience, driving more people to use the service. The runway for this pattern is very long.</p><p><b>Barron's: Under what circumstances will the lack of profits become an obstacle to investment?</b></p><p><b>Tom Slater</b>: Whether a company is currently profitable has little to do with how much value it creates. In the case of a software-as-a-service (SAAS) company, signing a new customer can cost a lot of money in the first year, but the revenue stream generated by this transaction can last for decades. As an investor, I want companies to sign as many clients as possible, which means they will lose a lot of money in the beginning. But if they can retain those customers, the value creation could be massive.</p><p><b>Barron's: Thank you, Tom.</b></p><p><b>Text | Barron's contributor Lauren R. Rublin</b></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Berkey Investment: Meituan, Pinduoduo are the next Tesla-style enterprises</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\">\nBerkey Investment: Meituan, Pinduoduo are the next Tesla-style enterprises\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1063202233\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Barrons巴伦 </p>\n<p class=\"h-time smaller\">2021-06-23 19:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Baillie Gifford, an Edinburgh-based fund manager, has set a remarkable investment record by separating signal from noise over the past 110 years. The firm invests in publicly traded and privately held companies with long-term growth potential, regardless of macroeconomic variables and short-term market volatility.</p><p>The company's long-term investment vision and familiarity with new technologies make Tom Slater, its head of U.S. equity assets and portfolio manager of U.S. stocks and long-term global growth funds, a natural choice for Barron's recent Centennial Roundtable, whose members will be tasked with imagining the next 100 years.</p><p>As a continuation of the conversation, below is an edited interview where we focus on the companies that offer the most exciting investment opportunities. Slater is co-manager with Barron Roundtable member James Anderson, managing the roughly £ 18 bn ($25 bn) Baillie Gifford's Scottish Mortgage Investment Trust (SMT) and the $145 million Baillie Gifford U.S. Equity Growth fund (BGGSX) Co-manager of. Both companies have a five-star rating from Morningstar. In the 12 months ended March 31, Scottish Mortgage Investment Trust rose 99%; In the year ending June 15, U.S. With a total return of 73%, the Equity Growth fund ranks among the top in Morningstar's big growth stock category.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a1e534c9728cc83586e06170e5574ff7\" tg-width=\"1080\" tg-height=\"720\"><span>Tom Slater, Photo: Photograph by Matt Marcus</span></p><p><b>Barron's: Growth stocks are facing challenges after a brilliant 2020. Are you worried about that?</b></p><p><b>Tom Slater</b>: We don't pay attention to short-term fluctuations in stock prices. We focus on interesting companies with long-term growth opportunities. Our average holding period is 5 to 10 years. Only in such a timeframe can fundamentals drive the stock price.</p><p>Many people try to focus on predicting economic variables. But they are inherently extremely difficult to predict, if not completely impossible. At the same time, there are many predictable trends in fields such as communications, computing, machine learning, energy generation and storage, gene sequencing, and synthetic biology. We focus on predictable trends and the opportunities they create.</p><p><b>Barron's: At our Centennial Roundtable, you observed that some technologies in biology, if not better than Moore's Law, at least follow a similar trajectory. How should investors profit from this?</b></p><p><b>Tom Slater</b>: The decline in the cost curve of gene sequencing is far greater than the decline in the cost of computing power under Moore's Law. Now, the cost reduction is expanding into related fields. Gene sequencing is generating large amounts of medical data, and the cost of processing and storing this data is rapidly falling, as is the cost of applying machine learning to this data.</p><p>One adjuvant therapy is our ability to start printing (copying) DNA or RNA. Moderna (MRNA) is printing RNA sequences. We are talking about programming biology, except that instead of encoding with 1s and zeros, we use Gs, Ts, As and Cs (guanine, thymine, adenine and cytosine-sequenced nucleic acid bases that make up the genome).</p><p>Moderna's ability to produce safe and effective vaccines based on messenger RNA should boost confidence in the company's ability to produce vaccines to meet other huge, unmet needs, such as for HIV/AIDS. Another synthetic biology company, Ginkgo Bioworks, will go public through a merger with a SPAC. It is writing strings of DNA code that can be used in biomanufacturing processes.</p><p><b>Barron's: Wouldn't Moderna's success attract competitors?</b></p><p><b>Tom Slater</b>: When a technology undergoes drastic changes, not just the evolution of an existing paradigm, it is often difficult for established companies to accept this change. More likely, this technology will empower new businesses and new business models. So far, this has been the case in the automotive industry with the development of electric vehicles or electric vehicles. Interestingly, pharmaceutical companies with large vaccine franchises have yet to develop an effective Novel Coronavirus vaccine.</p><p><b>Barron's: Speaking of electric vehicles, Baillie Gifford has cut her Tesla holdings from a peak position of more than 7% to less than 2%. Why is that?</b></p><p><b>Tom Slater</b>: We still have a large stake in Tesla. Part of this is because the sell-off reflects the strength of the company's stock price, as well as the company's operational success in driving the stock price higher. Part of the reason is that this sell-off is just considering the possibilities of looking up from here.</p><p><b>Barron's: Who is the next Tesla in electric vehicles and more broadly?</b></p><p><b>Tom Slater</b>: China is the largest auto market in the world, and I would be surprised if there were no domestic competitors in China to challenge Tesla.<b>We are investors in NIO (NIO), and NIO has the opportunity to be such a player.</b></p><p>What features make Tesla so interesting? With over 100 million cars sold each year, this is a huge market. They approached this in a unique way, with a founder and CEO bundling most of his wealth to the company. Tesla doggedly pursues a long-term vision and doesn't have to worry too much about what the stock market thinks. During our ownership, Tesla's stock price has fallen by more than 30% 10 times.</p><p>Moderna has platform-type technology with a wide enough application to be very interesting as well. Illumina (ILMN), which makes genome sequencing instruments, has a similar opportunity.<b>Chinese companies, such as Meituan (3690), which focuses on local services, and Pinduoduo (PDD) in the retail sector, are attractive, partly because of their ambitions, and they are gradually changing the entire supply chain of their industries.</b></p><p>In Western markets, delivering pre-processed foods began as an alternative to takeout, while in China, the scope is much larger because there is more culture of eating pre-processed foods. In China, kitchens in apartment buildings are getting smaller and smaller, and these apartment buildings are being designed for efficient food delivery service infrastructure. When you are building a reliable fast delivery infrastructure, related industries emerge as the times require.</p><p><b>ByteDance is also very charming</b>。 Its social media subsidiary TikTok has sparked controversy in the U.S., but ByteDance is 95% about China, how rapidly the company has grown in size in the domestic advertising market. In China, large enterprises led by founders are taking full advantage of the scale advantage of the domestic market.</p><p><b>Barron's: Do you prefer to invest in companies led by founders as CEOs?</b></p><p><b>Tom Slater</b>: We want to invest in companies led by people who optimize for long-term results. It's more common in founders, but that's not to say you can't see it in professional CEOs.</p><p>Since 2016, Francis deSouza has served as CEO of Immena. The company has a large revenue base, is highly profitable and is growing in a predictable way. Last year, based on its forecast of the market direction in the next 5 to 10 years, Inmena bid $8 billion to acquire Grail, a pre-revenue developer of cancer blood tests. The stock market doesn't like this practice, but it's exactly what founders do.</p><p><b>Barron's: Which Private Enterprises Should Investors Watch?</b></p><p><b>Tom Slater</b>: Private companies like ByteDance and SpaceX have a market value of tens of billions of dollars. SpaceX is trying to reduce the cost of getting into space by several orders of magnitude, and it is creating a new market: commercial access to space. We are also an investor in Relativity Space, which is using 3D printing technology to build rockets.</p><p><b>Barron's: Recently, you have reduced your holdings in Amazon.com. Why?</b></p><p><b>Tom Slater</b>: We have been shareholders of Amazon for 16 years. Before last year, any reduction was for diversification within the fund. But Amazon is still a huge market for us, and it still faces some major opportunities. The grocery business is one of them, a massive category that is slowly going online.</p><p>On the other hand, Jeffrey Bezos's retirement from the CEO position is an important factor in our analysis of the company, coupled with the recent retirement of Jeff Wilk, who runs the consumer goods business (Bezos will become executive chairman on July 5). If you think Bezos's vision and drive are important for Amazon to get this far, even his partial exit is a reason to be more cautious.</p><p><b>Barron's: What other investments are you excited about?</b></p><p><b>Tom Slater</b>: Lemonade (LMND) started out as a company selling renters insurance, and this company is perfect for online sales-especially mobile sales. This company creates a great consumer experience. It allows clients to designate a charity to accept excess floats in their insurance pool, which creates an incentive to not overstate claims. Renters insurance is usually the first insurance product people will buy. If the experience is great, they will consider purchasing the same brand of pet, car or homeowners insurance. Lemonade is building a modern technology stack in an industry where large vendors still run in mainstream frameworks.</p><p>We recently invested in 10X Genomics (TXG) and Recursion Pharmaceuticals (RXRX). The common theme, once again, is that the efficiency of applying information technology far exceeds that of existing companies.</p><p>Affirm Holdings (AFRM) also fits into this theme. Point-of-sale loans have traditionally been a bad experience for consumers, with high interest rates and hefty penalties if you don't pay. By using new technology, Affirm has created a more consumer-oriented experience, driving more people to use the service. The runway for this pattern is very long.</p><p><b>Barron's: Under what circumstances will the lack of profits become an obstacle to investment?</b></p><p><b>Tom Slater</b>: Whether a company is currently profitable has little to do with how much value it creates. In the case of a software-as-a-service (SAAS) company, signing a new customer can cost a lot of money in the first year, but the revenue stream generated by this transaction can last for decades. As an investor, I want companies to sign as many clients as possible, which means they will lose a lot of money in the beginning. But if they can retain those customers, the value creation could be massive.</p><p><b>Barron's: Thank you, Tom.</b></p><p><b>Text | Barron's contributor Lauren R. Rublin</b></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9b7f74a62c44767fb8f0a4bfbf0d91bc","relate_stocks":{"PDD":"拼多多","03690":"美团-W","TSLA":"特斯拉"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163510991","content_text":"总部位于爱丁堡的基金管理者柏基投资(Baillie Gifford)在过去110多年里，通过将信号与噪音分离开来，创造了令人瞩目的投资记录。该公司投资于具有长期增长潜力的公开上市公司和私有企业，而不考虑宏观经济变量和短期市场波动。\n该公司的长期投资视野和对新技术的熟悉程度，使其美国权益资产主管、美股和长期全球增长基金的投资组合经理汤姆·斯莱特(Tom Slater)成为《巴伦周刊》最近举办的百年圆桌会议(Centennial Roundtable)的自然之选，该圆桌会议的成员将负责畅想未来100年。\n作为对话的延续，下文是经过编辑的采访，我们重点关注那些提供最令人兴奋的投资机会的公司。斯莱特与巴伦圆桌会议成员詹姆斯 · 安德森(James Anderson)共同担任联席经理，管理着约180亿英镑(合250亿美元)的 Baillie Gifford’s Scottish Mortgage Investment Trust (SMT) ，并担任1.45亿美元的 Baillie Gifford U.S. Equity Growth fund (BGGSX)的联席经理。这两家公司都获得了晨星的五星评级。在截至3月31日的12个月中，Scottish Mortgage Investment Trust上涨了99% ; 在截至6月15日的一年中，U.S. Equity Growth fund的总回报率为73% ，在晨星公司的大成长股类别中位居前列。\n汤姆·斯莱特(Tom Slater)，图：Photograph by Matt Marcus\n《巴伦周刊》：在经历了2020年的辉煌之后，成长型股票正面临挑战。你对此担心吗？\n汤姆 · 斯莱特：我们不关注股票价格的短期波动。我们专注于那些拥有长期发展机会的有趣公司。我们的平均持有期为5至10年。只有在这样的时间范围内，基本面才能推动股价。\n许多人试图专注于预测经济变量。但它们天生就是极难预测的，如果不是完全不可能的话。与此同时，在通信、计算、机器学习、能源生成和储存、基因测序和合成生物学等领域，有许多可以预测的趋势。我们关注可预测的趋势和它们创造的机会。\n《巴伦周刊》：在我们的百年圆桌会议上，你们观察到生物学领域的一些技术即使不比摩尔定律更好，至少也遵循类似的发展轨迹。投资者应该如何从中获利？\n汤姆 · 斯莱特：基因测序成本曲线的下降幅度，远远大于摩尔定律下计算能力成本下降的幅度。现在，成本下降正在向相关领域扩展。基因测序正在产生大量的医疗数据，处理和存储这些数据的成本正在迅速下降，将机器学习应用于这些数据的成本也在迅速下降。\n一个辅助疗法是我们开始打印（复制）DNA 或 RNA 的能力。莫德纳公司（Moderna，MRNA）正在打印 RNA 序列。我们讨论的是编程生物学，只不过不是用1和0编码，而是用 Gs、 Ts、 As 和 Cs （鸟嘌呤、胸腺嘧啶、腺嘌呤和胞嘧啶ー排序的核酸碱基组成基因组）。\n莫德纳公司基于信使 RNA 生产安全有效疫苗的能力，应该会增强人们对该公司生产疫苗能力的信心，以满足其他巨大的、未被满足的需求，比如针对艾滋病毒/艾滋病。另一家合成生物公司银杏生物工程(Ginkgo Bioworks)将通过与 SPAC合并上市。它正在编写可用于生物制造过程的一串串 DNA 代码。\n《巴伦周刊》：莫德纳的成功不会吸引竞争对手吗？\n汤姆 · 斯莱特：当一项技术经历了剧烈的变化，而不仅仅是现有范式的演变，既有的公司往往很难接受这种变化。更有可能的是，这项技术将会为新的业务和新的商业模式赋能。到目前为止，随着电动汽车或电动汽车的发展，汽车行业一直是这种情况。有趣的是，拥有大型疫苗特许经营权的制药公司还没有研制出有效的新冠病毒疫苗。\n《巴伦周刊》：说到电动汽车，Baillie Gifford已经将持有的特斯拉从7% 以上的峰值仓位削减到不到2%。这是为什么？\n汤姆 · 斯莱特：我们仍然持有大量特斯拉的股份。部分原因在于，这次抛售反映出该公司股价的强劲走势，以及该公司在推动股价上涨方面的运营成功。另一部分原因，这次抛售只是在通盘考虑从这里往上看的各种可能性。\n《巴伦周刊》：在电动汽车和更广泛的领域，谁是下一个特斯拉？\n汤姆 · 斯莱特：中国是世界上最大的汽车市场，如果没有中国国内的竞争者来挑战特斯拉，我会感到惊讶。我们是蔚来（ NIO）的投资者，而蔚来有机会成为这样的参与者。\n是什么样的特性让特斯拉如此有趣？每年销售的汽车超过1亿辆，这是一个巨大的市场。他们以一种独特的方式来处理这个问题，一位创始人兼首席执行官将自己的大部分财富与公司捆绑在一起。特斯拉顽强地追求一个长期愿景，不必过分担心股市的想法。在我们持股期间，特斯拉有10次股价下跌幅度超过30% 。\n莫德纳拥有应用程序足够广泛的平台型技术，因此也非常有趣。制造基因组测序仪器的因美纳公司（Illumina，ILMN）也有类似的机会。中国的公司，比如专注于本地服务的美团（3690），以及零售领域的拼多多（PDD），都很吸引人，部分原因在于它们的雄心壮志，它们正在逐渐改变本行业的整个供应链。\n在西方市场，配送预加工食品最初是作为外卖的替代品，而在中国，这一范围要大得多，因为这里有更多吃预加工食品的文化。在中国，公寓楼里的厨房设计得越来越小，同时这些公寓楼正在高效的食品配送服务基础设施而设计。当你在建设可靠的快速交付基础设施时，相关产业就应运而生。\n字节跳动也非常迷人。它的社交媒体子公司TikTok在美国引发了争议，但字节跳动95% 是关于中国的，这家公司在国内广告市场上的规模成长多么迅速。在中国，由创始人领导的大型企业正在充分利用国内市场的规模优势。\n《巴伦周刊》：你们更喜欢投资由创始人担任CEO领导的公司吗？\n汤姆 · 斯莱特：我们希望投资那些为长期结果而优化的人领导的公司。这在创始人身上更为常见，但这并不是说你不能在职业CEO身上看到。\n自2016年以来，弗朗西斯·德·苏萨（Francis deSouza ）一直担任因美纳公司的首席执行官。该公司有一个庞大的收入基础，利润丰厚，并以可预见的方式增长。去年，基于它对未来5到10年市场走向的预测，因美纳公司出价80亿美元收购了 Grail 公司，这是一家癌症血液检测的预收入开发商。股市并不喜欢这种做法，但这正是创始人该做的事情。\n《巴伦周刊》：投资者应该关注哪些私有企业？\n汤姆 · 斯莱特：像字节跳动和SpaceX这样的私有企业市值高达数百亿美元。SpaceX试图降低进入太空的成本达到几个数量级级别，并且它正在创造一个新的市场: 进入太空的商业途径。我们也是Relativity Space公司的投资者，该公司正在使用3D打印技术制造火箭。\n《巴伦周刊》：最近，你们减少了在亚马逊网站上的持股，为什么？\n汤姆 · 斯莱特：我们作为亚马逊的股东已经有16年了。在去年之前，任何减持都是为了基金内部的多样化。但是亚马逊对我们来说仍然是一个巨大的市场，它仍然面临着一些重大机遇。杂货业务就是其中之一，它是一个正在缓慢线上化的庞大类别。\n另一方面，杰弗里 · 贝佐斯从 CEO 的位置上退下来是我们分析公司的一个重要因素，再加上最近经营消费品业务的杰夫 · 威尔克的退休(贝佐斯将于7月5日成为执行主席)。如果你认为贝佐斯的远见和动力对于亚马逊走到这一步很重要，那么哪怕是他部分的退出，也是更加谨慎的理由。\n《巴伦周刊》：还有什么其他的投资让你兴奋？\n汤姆 · 斯莱特：Lemonade（LMND）最初是一家出售租房保险的公司，这家公司非常适合在线销售——尤其是手机销售。这家公司创造了很棒的消费体验。它允许客户指定一个慈善机构来接受他们保险池中的超额浮动，这就产生了不夸大索赔要求的激励。租房保险通常是人们会购买的第一种保险产品。如果体验很棒，他们会考虑购买同一品牌的宠物、汽车或者房主保险。Lemonade 正在一个大型厂商仍然在主流框架中运行的行业中建立一个现代技术堆栈。\n我们最近投资了10X 基因组公司（10X Genomics，TXG）和递归制药公司（Recursion Pharmaceuticals，RXRX）。共同的主题，再一次是应用信息技术的效率远远超过现有公司。\nAffirm Holdings（AFRM）也符合这一主题。传统上，销售点贷款对于消费者来说是一种糟糕的体验，利率很高，如果你不付款就会受到高额罚款。通过使用新技术，Affirm 创造了一个更加面向消费者的体验，推动了更多人使用该服务。这个模式的跑道很长。\n《巴伦周刊》：在什么情况下，缺少利润将成为投资的阻碍？\n汤姆 · 斯莱特：一家公司目前是否盈利与创造了多少价值几乎没有关系。以软件即服务（SAAS）公司为例，签下一个新客户在第一年可能要花很多钱，但这笔交易所产生的收入流可能会持续数十年。作为一个投资者，我希望公司签下尽可能多的客户，这意味着他们将在一开始损失很多钱。但是，如果他们能够留住这些客户，价值创造可能是海量的。\n《巴伦周刊》：谢谢你，汤姆。\n文｜《巴伦周刊》撰稿人劳伦·R·鲁布林（Lauren R. Rublin）","news_type":1,"symbols_score_info":{"PDD":0.9,"TSLA":0.9,"03690":0.9}},"isVote":1,"tweetType":1,"viewCount":823,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159270215,"gmtCreate":1624972578837,"gmtModify":1703849115443,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159270215","repostId":"1162626672","repostType":4,"repost":{"id":"1162626672","kind":"news","pubTimestamp":1624950782,"share":"https://ttm.financial/m/news/1162626672?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:13","market":"us","language":"zh","title":"Buffett summed up 8 valuable experiences and lessons from the epidemic","url":"https://stock-news.laohu8.com/highlight/detail?id=1162626672","media":"智通财经 ","summary":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教","content":"<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Despite giving billions of dollars to charity, Buffett's net worth surpassed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01New investment? Leveraging the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments-one that turned out to be a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have recommended it to people for a long time,\" Buffett said, adding that 90% of the money he left to his wife would go into the S&P 500 after his death.</p><p>The S&P 500 Index Fund is a mutual fund or ETF that mimics the familiar stock index that tracks the 500 largest companies in the United States. Despite the outbreak, the S&P 500 soared 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings about Berkshire, they should buy the S&P 500,\" Buffett said at a shareholder meeting in Los Angeles.</p><p>02 Be practical-even when the market loses its mind</p><p>Buffett recommends investors a long-term and practical approach, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in '89 are from the 2021 edition. The lesson is this: things are fickle, and picking winners isn't easy.</p><p>\"If you only hold diversified stocks, like U.S. stocks, that would be my preference, but for more than 30 years,\" he said.</p><p>03 Don't expect pensions</p><p>One of the more alarming trends Buffett delved into at the Berkshire Hathaway conference, the increasingly precarious status of many state pension funds, is an issue he says he has been following since 2013.</p><p>\"Pensions are terrible in a lot of states,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed states' finances and has only exacerbated the current pension problem that has no long-term solution. Before the pandemic began, the state pension scheme was already short of $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis has devastated the entire aviation industry, yet airlines have survived with the help of the government. But without that support, you're looking at a whole new air crash. The industry still has many months to go before it wants to return to normal business (and normal profit margins).</p><p>\"I still don't want to buy airlines,\" Buffett told his Berkshire shareholders.</p><p>Delta Air Lines (DAL), one of the airlines Berkshire dumped from its portfolio, saw its shares fall by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett doesn't have much confidence in the airline industry's economic fundamentals.</p><p>05 Stick to your long-term plan</p><p>Stick to your financial goals, Buffett said. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the U.S., but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways.\"</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. At the Berkshire conference, he was even reminded that he once said it was \"too short\" to hold a stock forever.</p><p>06 Make the Most of Low Interest Rates</p><p>With interest rates falling, Buffett says now is a good time to borrow money.</p><p>With the Fed's commitment to keep key interest rates near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low-rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"It's been revived in a very effective way through the actions of the Fed.\"</p><p>07 Avoid Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a great survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's online shareholder meeting in 2020, he recalled the advice he gave to a friend who had a windfall and was thinking about the smartest way to spend. She told Buffett that she also has credit card debt-18% interest.</p><p>Buffett remembers saying to her, \"If I had 18% debt, the first thing I would do with the money I had on hand would be to pay it off.\" \"You can't borrow money at that rate all your life and get better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett said that a \"catastrophe\" is coming. Calling Buffett an \"oracle\" is not for nothing. In 2019, he warned of a \"mega-catastrophe\" for the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the United States, Buffett said in an interview, \"I always felt that a pandemic would happen sooner or later.\"</p><p>You'd think someone who has invested so much in the insurance industry would have the foresight-Berkshire owns Geico and several other insurers-that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happen in the world over the last 15 months,\" he told his investors this year. \"And we're always aware of stranger things going to happen in the future.\"</p>","source":"stock_zhitongcaijing","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>Buffett summed up 8 valuable experiences and lessons from the epidemic</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\">\nBuffett summed up 8 valuable experiences and lessons from the epidemic\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经 </strong><span class=\"h-time small\">2021-06-29 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Despite giving billions of dollars to charity, Buffett's net worth surpassed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01New investment? Leveraging the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments-one that turned out to be a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have recommended it to people for a long time,\" Buffett said, adding that 90% of the money he left to his wife would go into the S&P 500 after his death.</p><p>The S&P 500 Index Fund is a mutual fund or ETF that mimics the familiar stock index that tracks the 500 largest companies in the United States. Despite the outbreak, the S&P 500 soared 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings about Berkshire, they should buy the S&P 500,\" Buffett said at a shareholder meeting in Los Angeles.</p><p>02 Be practical-even when the market loses its mind</p><p>Buffett recommends investors a long-term and practical approach, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in '89 are from the 2021 edition. The lesson is this: things are fickle, and picking winners isn't easy.</p><p>\"If you only hold diversified stocks, like U.S. stocks, that would be my preference, but for more than 30 years,\" he said.</p><p>03 Don't expect pensions</p><p>One of the more alarming trends Buffett delved into at the Berkshire Hathaway conference, the increasingly precarious status of many state pension funds, is an issue he says he has been following since 2013.</p><p>\"Pensions are terrible in a lot of states,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed states' finances and has only exacerbated the current pension problem that has no long-term solution. Before the pandemic began, the state pension scheme was already short of $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis has devastated the entire aviation industry, yet airlines have survived with the help of the government. But without that support, you're looking at a whole new air crash. The industry still has many months to go before it wants to return to normal business (and normal profit margins).</p><p>\"I still don't want to buy airlines,\" Buffett told his Berkshire shareholders.</p><p>Delta Air Lines (DAL), one of the airlines Berkshire dumped from its portfolio, saw its shares fall by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett doesn't have much confidence in the airline industry's economic fundamentals.</p><p>05 Stick to your long-term plan</p><p>Stick to your financial goals, Buffett said. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the U.S., but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways.\"</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. At the Berkshire conference, he was even reminded that he once said it was \"too short\" to hold a stock forever.</p><p>06 Make the Most of Low Interest Rates</p><p>With interest rates falling, Buffett says now is a good time to borrow money.</p><p>With the Fed's commitment to keep key interest rates near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low-rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"It's been revived in a very effective way through the actions of the Fed.\"</p><p>07 Avoid Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a great survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's online shareholder meeting in 2020, he recalled the advice he gave to a friend who had a windfall and was thinking about the smartest way to spend. She told Buffett that she also has credit card debt-18% interest.</p><p>Buffett remembers saying to her, \"If I had 18% debt, the first thing I would do with the money I had on hand would be to pay it off.\" \"You can't borrow money at that rate all your life and get better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett said that a \"catastrophe\" is coming. Calling Buffett an \"oracle\" is not for nothing. In 2019, he warned of a \"mega-catastrophe\" for the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the United States, Buffett said in an interview, \"I always felt that a pandemic would happen sooner or later.\"</p><p>You'd think someone who has invested so much in the insurance industry would have the foresight-Berkshire owns Geico and several other insurers-that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happen in the world over the last 15 months,\" he told his investors this year. \"And we're always aware of stranger things going to happen in the future.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/503261.html\">智通财经 </a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.A":"伯克希尔"},"source_url":"https://www.zhitongcaijing.com/content/detail/503261.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162626672","content_text":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教训。\n01  新投资吗?利用标普500\n在上个月伯克希尔哈撒韦公司的年会上，巴菲特谈到了他最喜欢的一项投资——该投资在疫情期间成为赢家。\n巴菲特说:“我推荐标普500指数基金，并且长期以来一直向人们推荐。”他还说，在他去世后，他留给妻子的90%的钱将进入标普500基金。\n标普500指数基金是模仿人们熟悉的跟踪美国500家最大公司的股票指数的共同基金或ETF。尽管疫情爆发，标普500指数在2020年飙升16%，并在2021年创下新高。\n巴菲特在洛杉矶的股东大会上表示:“我喜欢伯克希尔，但我认为一个对股票一无所知，对伯克希尔没有任何特殊感觉的人，他们应该购买标普500指数。”\n02  要实际——即使在市场失去理智的时候\n巴菲特建议投资者长期且实际的方法，而不是“每天进行30或40笔交易。”\n在会议期间，巴菲特展示了两张幻灯片，展示了当今和1989年全球市值最大的20家公司。89年上榜的公司没有一家是2021年版的。教训是:世事无常，挑选赢家并不容易。\n\"如果你只持有多元化的股票，比如美国股票，那将是我的偏好，但要持有超过30年，\"他说。\n03  不要指望养老金\n巴菲特在伯克希尔哈撒韦公司的会议上深入研究的一个更令人担忧的趋势，许多州养老基金的地位越来越不稳定，他说他从2013年就开始关注这个问题。\n巴菲特说:“很多州的养老金状况都很糟糕。”“情况并没有好转。显然，情况一点也没有好转。”\n疫情已经扼杀了各州的财政，只会加剧目前没有长期解决方案的养老金问题。Pew Charitable Trusts的数据显示，在大流行开始之前，国家养老金计划已经缺乏1万亿美元的资金来满足未来对退休人员的义务。\n04  投资者应该对某些投资保持警惕\n巴菲特因为COVID-19的原因抛售了航空股。\n疫情危机摧毁了整个航空行业，然而航空公司在政府的帮助下幸存下来。但如果没有这种支持，你会看到一场全新的空难。要想恢复正常的业务(以及正常的利润率)，该行业还有好几个月的时间。\n“我还是不想买航空公司，”巴菲特告诉他的伯克希尔股东。\n达美航空(DAL)是伯克希尔从其投资组合中抛售的航空公司之一，该公司股价在去年3月1日至5月15日期间下跌了一半以上。此后，该股和美国其他主要航空公司的股价都有所回升，但巴菲特对航空业的经济基本面没有多大信心。\n05  坚持你的长期计划\n巴菲特说，要坚持你的财务目标。巴菲特仍然相信，美国经济将从COVID - 19危机中反弹，但他告诉股东，未来远非确定。\n“你可以押注美国，但你必须小心如何押注，”他说。他后来重申，世界可以以“非常、非常戏剧性的方式”发生变化。\n巴菲特从来没有动摇过他的信念，长期持有股票是一个稳定的财务未来的正确投资策略。在伯克希尔的会议上，他甚至被提醒说，他曾经说过永远持有一只股票“太短了”。\n06  充分利用低利率\n随着利率的下降，巴菲特说现在是借钱的好时机。\n由于美联储承诺将关键利率维持在接近零的水平，巴菲特认为2021年借款人将有极好的机会。\n“这是一个迷人的时代，”巴菲特告诉投资者，并补充说低利率环境“非常令人愉快”。\n“经济在2020年3月跌落悬崖，”巴菲特说。“通过美联储的行动，它以一种非常有效的方式复活了。”\n07  避免信用卡债务\n巴菲特说，如果你有信用卡债务，那就摆脱它。\n疫情导致企业关闭和裁员，迫使数百万美国人依靠信用卡来满足基本的金融需求。这是一个很好的生存策略，但由此产生的平衡和高利率会造成长期的财务压力。\n在伯克希尔2020年的在线股东大会上，他回忆了自己给一位获得意外之财的朋友的建议，这位朋友当时正在考虑最明智的消费方式。她告诉巴菲特，她还有信用卡债务——利息为18%。\n巴菲特记得对她说:“如果我有18%的债务，我会用手头的钱做的第一件事就是还清。”“你不可能一辈子都以这样的利率借钱，然后过得更好。”\n08  总是做最坏打算\n巴菲特说，一场“大灾难”即将来临。称巴菲特为“神谕”不是没有原因的。2019年，他警告说，世界将迎来一场“特大灾难”，这将使卡特里娜飓风和迈克尔飓风造成的混乱相形见绌。\n当疫情首次袭击美国时，巴菲特在一次采访中说，“我一直觉得一场大流行迟早会发生。”\n你可能会认为，在保险业投入如此之多的人会有这样的远见——伯克希尔哈撒韦拥有Geico和其他几家保险公司——为最坏的情况做准备是商业模式的核心部分。\n“过去15个月里，我们看到世界上发生了一些奇怪的事情，”他今年告诉他的投资者。“而且我们总是意识到未来会发生更奇怪的事情。”","news_type":1,"symbols_score_info":{"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":696,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122128583,"gmtCreate":1624605675542,"gmtModify":1703841553976,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122128583","repostId":"2145704929","repostType":4,"isVote":1,"tweetType":1,"viewCount":631,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159276594,"gmtCreate":1624972798618,"gmtModify":1703849122468,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159276594","repostId":"1164662782","repostType":4,"repost":{"id":"1164662782","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624967212,"share":"https://ttm.financial/m/news/1164662782?lang=en_US&edition=fundamental","pubTime":"2021-06-29 19:46","market":"us","language":"zh","title":"At $23.5/ADS, Dingdong Maicai sets IPO price at bottom of guidance range","url":"https://stock-news.laohu8.com/highlight/detail?id=1164662782","media":"老虎资讯综合","summary":"叮咚买菜据悉将美股IPO价格定在指导区间的底部23.5美元/ADS。\n相关阅读\n即将上市的叮咚买菜再次更新招股书，其筹资规模大幅缩减至此前额度的四分之一。最新的招股书显示，叮咚买菜首次公开发行370万","content":"<p>Dingdong Maicai is reported to have set the IPO price of US stocks at the bottom of the guidance range at $23.5/ADS.</p><p><b>Related reading</b></p><p>Dingdong Maicai, which is about to go public, updated its prospectus again, and its fund-raising scale was greatly reduced to a quarter of the previous quota. According to the latest prospectus, Dingdong Maicai's initial public offering of 3.7 million American depositary shares (ADS) is the same as before, maintaining between US $23.5 and US $25.5. According to the upper limit of the issue price range, Dingdong Maicai's fund-raising amount is about $94 million.</p><p>A week ago, Dingdong Maicai's first updated prospectus showed that it would publicly issue 14 million American depositary shares. At that time, it could raise nearly US $360 million based on the upper limit of the issue price range. In contrast, the most recently announced fundraising scale has been reduced to a quarter of the previous quota, that is, the overall reduction has exceeded 70%.</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>At $23.5/ADS, Dingdong Maicai sets IPO price at bottom of guidance range</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\">\nAt $23.5/ADS, Dingdong Maicai sets IPO price at bottom of guidance range\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-29 19:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Dingdong Maicai is reported to have set the IPO price of US stocks at the bottom of the guidance range at $23.5/ADS.</p><p><b>Related reading</b></p><p>Dingdong Maicai, which is about to go public, updated its prospectus again, and its fund-raising scale was greatly reduced to a quarter of the previous quota. According to the latest prospectus, Dingdong Maicai's initial public offering of 3.7 million American depositary shares (ADS) is the same as before, maintaining between US $23.5 and US $25.5. According to the upper limit of the issue price range, Dingdong Maicai's fund-raising amount is about $94 million.</p><p>A week ago, Dingdong Maicai's first updated prospectus showed that it would publicly issue 14 million American depositary shares. At that time, it could raise nearly US $360 million based on the upper limit of the issue price range. In contrast, the most recently announced fundraising scale has been reduced to a quarter of the previous quota, that is, the overall reduction has exceeded 70%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"DDL":"叮咚买菜"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164662782","content_text":"叮咚买菜据悉将美股IPO价格定在指导区间的底部23.5美元/ADS。\n相关阅读\n即将上市的叮咚买菜再次更新招股书，其筹资规模大幅缩减至此前额度的四分之一。最新的招股书显示，叮咚买菜首次公开发行370万股美国存托股票(ADS)，发行价格区间与此前相同，维持在23.5美元至25.5美元之间。按照发行价区间上限计算，叮咚买菜筹资金额大约在9400万美元左右。\n一周前，叮咚买菜首次更新的招股书显示其将公开发行1400万股美国存托股票，彼时按照发行价区间上限计算可筹资达到近3.6亿美元。对比之下，最近一次宣布的募资规模缩减至此前额度的四分之一，即总体缩减幅度超70%。","news_type":1,"symbols_score_info":{"DDL":0.9}},"isVote":1,"tweetType":1,"viewCount":2494,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159276331,"gmtCreate":1624972786223,"gmtModify":1703849121653,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159276331","repostId":"2147863759","repostType":4,"repost":{"id":"2147863759","kind":"highlight","pubTimestamp":1624971302,"share":"https://ttm.financial/m/news/2147863759?lang=en_US&edition=fundamental","pubTime":"2021-06-29 20:55","market":"sh","language":"zh","title":"Tesla put CATL to the \"C position\"","url":"https://stock-news.laohu8.com/highlight/detail?id=2147863759","media":"华尔街见闻","summary":"宁德时代最近成为新能源界的C位担当，一是因为董事长曾毓群暴涨的身价，二是因为和特斯拉的一纸电池合约。\n6月28日，宁德时代发布公告称，公司已与特斯拉签订协议，将在2022年1月至2025年12月期间，","content":"<p><a href=\"https://laohu8.com/S/300750\">Ningde era</a>Recently, he has become a C-level leader in the new energy industry. First, because of the skyrocketing value of Chairman Zeng Yuqun, and second, because he and<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>A battery contract.</p><p>On June 28, CATL announced that the company had signed an agreement with Tesla to supply lithium-ion power battery products to Tesla from January 2022 to December 2025, that is, in the next four years. The specific purchase situation is determined by Tesla in the form of orders, and the final sales amount must be subject to the actual settlement of the purchase order issued by Tesla.</p><p>In the future, Tesla's Model 3, Model Y and other models will use battery packs from CATL.</p><p><img src=\"https://static.tigerbbs.com/a713164f29f737032b723520c810364e\" tg-width=\"600\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Affected by this news, on June 29, Contemporary Amperex Technology Co., Limited's stock price hit a new high. The intraday stock price once reached 519.60 yuan per share, and the total market value exceeded 1.2 trillion yuan. As of the close, Contemporary Amperex Technology Co., Limited's share price closed at 508.51 yuan per share, an increase of 2.96%. Become the first technology stock in A-shares to enter the trillion-dollar club.</p><p>It is worth mentioning that since last year, CATL's stock price has been like a rocket, with its total market value rising from 0.23 trillion yuan to 1.18 trillion yuan, an increase of more than 4 times.</p><p>June 29th,<a href=\"https://laohu8.com/S/601995\">CICC</a>According to the evaluation of this cooperation, CATL's agreement with Tesla is stronger than the previous cooperation. Considering that the company's downstream demand exceeded expectations, CATL's profit forecast was raised and the target price was raised by 9% to 600 yuan. CICC also raised CATL's 2021-2023 profit forecast by 10%, 25% and 8% to 11 billion yuan, 20 billion yuan and 26.7 billion yuan respectively.</p><p><a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>Recently, a research report was released saying that it maintains CATL's buy rating with a target price of 607.5 yuan. The reasons for its rating include: the strategic cooperation agreement with car companies is bound to battery production capacity, which can solve the bottleneck of battery supply and ensure that production capacity is not limited.</p><p>In addition, CICC analyst Zeng Tao and others pointed out in the report that the agreement did not stipulate the Chinese market, which means that CATL will take the opportunity to cooperate with Tesla's global market supply to accelerate its products to go global. Boosted by global demand, CATL's long-term global market share is expected to reach more than 30%.</p><p>This is another handshake between the two leading companies. For CATL, which has already reached a high market value of trillions, the deep binding with Tesla, the largest customer, is not only related to the installed battery capacity brought by this customer, but also an important ticket to break through the overseas power battery market.</p><p><h2><b>Secondary</b><b>\"Hand in Hand\"</b></h2>It is reported that in 2018, when Musk signed the Tesla Shanghai factory landing agreement, he secretly met with Zeng Yuqun, chairman of CATL, but the two parties did not reach a substantive agreement.</p><p>At the \"2019 World Artificial Intelligence Conference\", the two met again and finalized their cooperation intention in more than 40 minutes.</p><p>In February 2020, a contract truly brought together two leading companies in new car manufacturing and power batteries. At that time, Contemporary Amperex Technology Co., Limited signed the \"Production Pricing Agreement (China)\" with Tesla, and planned to supply lithium-ion power battery products to Tesla from July 2020 to June 2022.</p><p>According to this contract, CATL supplies batteries for Tesla's Model 3 produced in Shanghai. At the beginning of 2021, after Tesla launches Model Y, the scope of cooperation between the two parties is also expected to be further expanded.</p><p>On June 25 this year, on the basis of this agreement, the two parties signed the above-mentioned cooperation framework agreement \"Production Pricing Agreement\". The agreement stipulates that CATL plans to supply lithium-ion power battery products to Tesla in the next four years. Some analysts believe that the difference between the two cooperation framework agreements lies in the removal of \"China\", which indicates that this supply agreement will cover the whole world.</p><p>The further deepening of cooperation between the two sides has actually long been predicted.</p><p>On June 3, Reuters quoted people familiar with the matter as saying that CATL plans to build a new large-scale power battery factory in Shanghai to provide half of Tesla's global batteries for electric vehicles and rooftop energy storage.</p><p>There are rumors that the annual production capacity of the Shanghai factory will reach 80GWh, while CATL's existing production capacity is 69.1 GWh and 77.5 GWh of production capacity is under construction.</p><p>In addition, the \"Oolong Incident\" that occurred recently in the Ningde era is also related to Tesla. Recently, someone who claimed to be an employee of Ningde Times broke the news that Ningde Times forced manager-level employees to buy Tesla Model 3. Some employees said that the company launched a discount to buy Tesla in order to clear the \"battery problem\" Tesla inventory.</p><p>Contemporary Amperex Technology Co., Limited stated that there were no quality problems and no mandatory purchases. \"Regarding employees' purchase of Tesla, the company encourages employees to buy electric vehicles at preferential prices in order to promote comprehensive electrification. There is no mandate, nor is it limited to Tesla, including most of the brands it supplies. It is said that this activity has lasted for three years. Year, last year was during National Day.\"</p><p><h2><b>\"Binding\" deepens</b></h2>Regardless of the oolong incident, the relationship between Tesla and CATL is being further tied.</p><p>Contemporary Amperex Technology Co., Limited's 2021 Q1 financial report shows that the company's sales to the top five customers accounted for 41.08% of the current receivables, and the company's main customers are large domestic and foreign car companies. The 2020 annual report shows that there is not much gap in sales between the company's third and fourth largest customers.</p><p><img src=\"https://static.tigerbbs.com/7b1d28e7bc0109ab77f6fbdfcfb26e8f\" tg-width=\"640\" tg-height=\"213\" referrerpolicy=\"no-referrer\"></p><p>According to Century Securities,<b>Calculated according to the installed caliber,</b><b>In 2020, Tesla was the third largest customer of CATL, and by the first quarter of 2021, Tesla became the largest customer.</b><img src=\"https://static.tigerbbs.com/71035fcd7b52b58275f0aaf4030589c9\" tg-width=\"640\" tg-height=\"232\" referrerpolicy=\"no-referrer\"></p><p>The binding between the two parties has deepened, not only because Tesla has become the largest customer. More importantly, Tesla is one of the important tickets for CATL to break through the overseas power battery market.</p><p>Previously, Jiang Li, deputy general manager and secretary of the board of directors of CATL, once said,<b>The cooperation between CATL and Tesla is not limited to China. The new contract may be the beginning of the power battery cooperation between the two parties going abroad.</b></p><p>Public data shows that CATL is already in the C position in terms of installed capacity of power batteries. In 2020, the effective catalog of new energy vehicles announced by the Ministry of Industry and Information Technology has more than 6,800 models, of which CATL has more than 3,400 models equipped with power batteries, accounting for the highest proportion among all power battery manufacturers.</p><p>CATL's advantages in global power battery competition are also further expanding.</p><p>According to the latest data from SNE Research, a Korean industry research organization, in the first quarter of 2021, global electric vehicle battery energy consumption was 47.8 GWh, a year-on-year increase of 127%. The substantial growth of CATL in the first quarter was the main driving force.</p><p>Data show that in the first quarter, CATL's battery installed capacity increased by 320.8% year-on-year to 15.1 GWh, and its market share expanded again from 25% in 2020 to 31.5%. Its largest competitors LG Chem and<a href=\"https://laohu8.com/S/PC\">Panasonic</a>Panasonic's market share dropped to 20.5% and 16.7% respectively, and Panasonic's market share dropped by nearly 10 percentage points within a year.</p><p>But the heights are too cold, and CATL still needs to face many competitors at home and abroad.</p><p>Overseas, companies such as LG Chem are eyeing up; At home,<a href=\"https://laohu8.com/S/002594\">BYD</a>Already poses a threat to the Ningde era. In March last year, BYD released a blade battery based on lithium iron phosphate material, and gradually opened it from self-use to third-party car companies.</p><p>Therefore, deepening the binding with Tesla at this time may have some benefits for CATL, both in terms of the installed capacity of power batteries and further enhancing the competitiveness of domestic and overseas markets.</p><p><h2><b>\"C-position\"</b><b>Challenge</b></h2>Although it is Tesla's battery contract that puts CATL to the C position this time, this trillion-dollar company has a very solid position in the field of new energy.</p><p>As the world's leading power battery supplier, CATL not only supplies new car representatives such as Tesla, but also cooperates with traditional car companies such as Mercedes-Benz and Honda. Three domestic new car manufacturers have also chosen CATL's power batteries.</p><p>Han<a href=\"https://laohu8.com/S/600617\">National New Energy</a>According to statistics from the analysis agency SNE, CATL has ranked first in the global power battery installed volume rankings for four consecutive years. Just in 2020, the global installed capacity of CATL's power batteries was 34GWh, with a market share of nearly a quarter.</p><p>With the popularity of the new energy sector, this behind-the-scenes giant has stepped forward since last year and gained capital attention. For example, clearance in 2020<a href=\"https://laohu8.com/S/NIO\">Nio</a>Later, Hillhouse Capital turned to CATL and subscribed for a fixed increase of 10 billion yuan.</p><p>Contemporary Amperex Technology Co., Limited, whose stock price has soared, has also attracted more investor attention. On May 21, Contemporary Amperex Technology Co., Limited also received a survey of 54 people from 33 institutional investors, including large Public Offering of Fund, foreign-funded institutions, and securities firm asset management. The topics that these institutional investors are concerned about are mainly the development of solid-state batteries, the company's three major strategic directions, and the layout of the photovoltaic field.</p><p>Contemporary Amperex Technology Co., Limited is not only recognized by the outside world, but its chairman Zeng Yuqun has also repeatedly ranked at the forefront of the Forbes rich list.</p><p>As of 11:30 a.m. on June 28, the real-time list of the Forbes Rich List showed that CATL Chairman Zeng Yuqun was worth US $44.7 billion (approximately 288.8 billion yuan), ranking 30th in the world. This is his first time in the top 30 of the list.</p><p>At the beginning of May, Zeng Yuqun successfully won the title of the richest man in Hong Kong. With a net worth of $34.5 billion, he shook the list of the richest man in Hong Kong, which has been dominated by the \"Lee family\" for more than 20 years. His personal wealth once surpassed that of Lee Shau Kee ($32.1 billion) and Li Ka-shing ($34.4 billion).</p><p>At that time, Zeng Yuqun's ranking on the global rich list rose to 42nd in the world, and now he has broken through into the top 30.</p><p>Within a year, CATL went out of the circle many times and attracted much attention in the primary and secondary markets. As the first A-share technology company with a market value of trillions, how long can CATL stand in the C position?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla put CATL to the \"C position\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla put CATL to the \"C position\"\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-29 20:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/300750\">Ningde era</a>Recently, he has become a C-level leader in the new energy industry. First, because of the skyrocketing value of Chairman Zeng Yuqun, and second, because he and<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>A battery contract.</p><p>On June 28, CATL announced that the company had signed an agreement with Tesla to supply lithium-ion power battery products to Tesla from January 2022 to December 2025, that is, in the next four years. The specific purchase situation is determined by Tesla in the form of orders, and the final sales amount must be subject to the actual settlement of the purchase order issued by Tesla.</p><p>In the future, Tesla's Model 3, Model Y and other models will use battery packs from CATL.</p><p><img src=\"https://static.tigerbbs.com/a713164f29f737032b723520c810364e\" tg-width=\"600\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Affected by this news, on June 29, Contemporary Amperex Technology Co., Limited's stock price hit a new high. The intraday stock price once reached 519.60 yuan per share, and the total market value exceeded 1.2 trillion yuan. As of the close, Contemporary Amperex Technology Co., Limited's share price closed at 508.51 yuan per share, an increase of 2.96%. Become the first technology stock in A-shares to enter the trillion-dollar club.</p><p>It is worth mentioning that since last year, CATL's stock price has been like a rocket, with its total market value rising from 0.23 trillion yuan to 1.18 trillion yuan, an increase of more than 4 times.</p><p>June 29th,<a href=\"https://laohu8.com/S/601995\">CICC</a>According to the evaluation of this cooperation, CATL's agreement with Tesla is stronger than the previous cooperation. Considering that the company's downstream demand exceeded expectations, CATL's profit forecast was raised and the target price was raised by 9% to 600 yuan. CICC also raised CATL's 2021-2023 profit forecast by 10%, 25% and 8% to 11 billion yuan, 20 billion yuan and 26.7 billion yuan respectively.</p><p><a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>Recently, a research report was released saying that it maintains CATL's buy rating with a target price of 607.5 yuan. The reasons for its rating include: the strategic cooperation agreement with car companies is bound to battery production capacity, which can solve the bottleneck of battery supply and ensure that production capacity is not limited.</p><p>In addition, CICC analyst Zeng Tao and others pointed out in the report that the agreement did not stipulate the Chinese market, which means that CATL will take the opportunity to cooperate with Tesla's global market supply to accelerate its products to go global. Boosted by global demand, CATL's long-term global market share is expected to reach more than 30%.</p><p>This is another handshake between the two leading companies. For CATL, which has already reached a high market value of trillions, the deep binding with Tesla, the largest customer, is not only related to the installed battery capacity brought by this customer, but also an important ticket to break through the overseas power battery market.</p><p><h2><b>Secondary</b><b>\"Hand in Hand\"</b></h2>It is reported that in 2018, when Musk signed the Tesla Shanghai factory landing agreement, he secretly met with Zeng Yuqun, chairman of CATL, but the two parties did not reach a substantive agreement.</p><p>At the \"2019 World Artificial Intelligence Conference\", the two met again and finalized their cooperation intention in more than 40 minutes.</p><p>In February 2020, a contract truly brought together two leading companies in new car manufacturing and power batteries. At that time, Contemporary Amperex Technology Co., Limited signed the \"Production Pricing Agreement (China)\" with Tesla, and planned to supply lithium-ion power battery products to Tesla from July 2020 to June 2022.</p><p>According to this contract, CATL supplies batteries for Tesla's Model 3 produced in Shanghai. At the beginning of 2021, after Tesla launches Model Y, the scope of cooperation between the two parties is also expected to be further expanded.</p><p>On June 25 this year, on the basis of this agreement, the two parties signed the above-mentioned cooperation framework agreement \"Production Pricing Agreement\". The agreement stipulates that CATL plans to supply lithium-ion power battery products to Tesla in the next four years. Some analysts believe that the difference between the two cooperation framework agreements lies in the removal of \"China\", which indicates that this supply agreement will cover the whole world.</p><p>The further deepening of cooperation between the two sides has actually long been predicted.</p><p>On June 3, Reuters quoted people familiar with the matter as saying that CATL plans to build a new large-scale power battery factory in Shanghai to provide half of Tesla's global batteries for electric vehicles and rooftop energy storage.</p><p>There are rumors that the annual production capacity of the Shanghai factory will reach 80GWh, while CATL's existing production capacity is 69.1 GWh and 77.5 GWh of production capacity is under construction.</p><p>In addition, the \"Oolong Incident\" that occurred recently in the Ningde era is also related to Tesla. Recently, someone who claimed to be an employee of Ningde Times broke the news that Ningde Times forced manager-level employees to buy Tesla Model 3. Some employees said that the company launched a discount to buy Tesla in order to clear the \"battery problem\" Tesla inventory.</p><p>Contemporary Amperex Technology Co., Limited stated that there were no quality problems and no mandatory purchases. \"Regarding employees' purchase of Tesla, the company encourages employees to buy electric vehicles at preferential prices in order to promote comprehensive electrification. There is no mandate, nor is it limited to Tesla, including most of the brands it supplies. It is said that this activity has lasted for three years. Year, last year was during National Day.\"</p><p><h2><b>\"Binding\" deepens</b></h2>Regardless of the oolong incident, the relationship between Tesla and CATL is being further tied.</p><p>Contemporary Amperex Technology Co., Limited's 2021 Q1 financial report shows that the company's sales to the top five customers accounted for 41.08% of the current receivables, and the company's main customers are large domestic and foreign car companies. The 2020 annual report shows that there is not much gap in sales between the company's third and fourth largest customers.</p><p><img src=\"https://static.tigerbbs.com/7b1d28e7bc0109ab77f6fbdfcfb26e8f\" tg-width=\"640\" tg-height=\"213\" referrerpolicy=\"no-referrer\"></p><p>According to Century Securities,<b>Calculated according to the installed caliber,</b><b>In 2020, Tesla was the third largest customer of CATL, and by the first quarter of 2021, Tesla became the largest customer.</b><img src=\"https://static.tigerbbs.com/71035fcd7b52b58275f0aaf4030589c9\" tg-width=\"640\" tg-height=\"232\" referrerpolicy=\"no-referrer\"></p><p>The binding between the two parties has deepened, not only because Tesla has become the largest customer. More importantly, Tesla is one of the important tickets for CATL to break through the overseas power battery market.</p><p>Previously, Jiang Li, deputy general manager and secretary of the board of directors of CATL, once said,<b>The cooperation between CATL and Tesla is not limited to China. The new contract may be the beginning of the power battery cooperation between the two parties going abroad.</b></p><p>Public data shows that CATL is already in the C position in terms of installed capacity of power batteries. In 2020, the effective catalog of new energy vehicles announced by the Ministry of Industry and Information Technology has more than 6,800 models, of which CATL has more than 3,400 models equipped with power batteries, accounting for the highest proportion among all power battery manufacturers.</p><p>CATL's advantages in global power battery competition are also further expanding.</p><p>According to the latest data from SNE Research, a Korean industry research organization, in the first quarter of 2021, global electric vehicle battery energy consumption was 47.8 GWh, a year-on-year increase of 127%. The substantial growth of CATL in the first quarter was the main driving force.</p><p>Data show that in the first quarter, CATL's battery installed capacity increased by 320.8% year-on-year to 15.1 GWh, and its market share expanded again from 25% in 2020 to 31.5%. Its largest competitors LG Chem and<a href=\"https://laohu8.com/S/PC\">Panasonic</a>Panasonic's market share dropped to 20.5% and 16.7% respectively, and Panasonic's market share dropped by nearly 10 percentage points within a year.</p><p>But the heights are too cold, and CATL still needs to face many competitors at home and abroad.</p><p>Overseas, companies such as LG Chem are eyeing up; At home,<a href=\"https://laohu8.com/S/002594\">BYD</a>Already poses a threat to the Ningde era. In March last year, BYD released a blade battery based on lithium iron phosphate material, and gradually opened it from self-use to third-party car companies.</p><p>Therefore, deepening the binding with Tesla at this time may have some benefits for CATL, both in terms of the installed capacity of power batteries and further enhancing the competitiveness of domestic and overseas markets.</p><p><h2><b>\"C-position\"</b><b>Challenge</b></h2>Although it is Tesla's battery contract that puts CATL to the C position this time, this trillion-dollar company has a very solid position in the field of new energy.</p><p>As the world's leading power battery supplier, CATL not only supplies new car representatives such as Tesla, but also cooperates with traditional car companies such as Mercedes-Benz and Honda. Three domestic new car manufacturers have also chosen CATL's power batteries.</p><p>Han<a href=\"https://laohu8.com/S/600617\">National New Energy</a>According to statistics from the analysis agency SNE, CATL has ranked first in the global power battery installed volume rankings for four consecutive years. Just in 2020, the global installed capacity of CATL's power batteries was 34GWh, with a market share of nearly a quarter.</p><p>With the popularity of the new energy sector, this behind-the-scenes giant has stepped forward since last year and gained capital attention. For example, clearance in 2020<a href=\"https://laohu8.com/S/NIO\">Nio</a>Later, Hillhouse Capital turned to CATL and subscribed for a fixed increase of 10 billion yuan.</p><p>Contemporary Amperex Technology Co., Limited, whose stock price has soared, has also attracted more investor attention. On May 21, Contemporary Amperex Technology Co., Limited also received a survey of 54 people from 33 institutional investors, including large Public Offering of Fund, foreign-funded institutions, and securities firm asset management. The topics that these institutional investors are concerned about are mainly the development of solid-state batteries, the company's three major strategic directions, and the layout of the photovoltaic field.</p><p>Contemporary Amperex Technology Co., Limited is not only recognized by the outside world, but its chairman Zeng Yuqun has also repeatedly ranked at the forefront of the Forbes rich list.</p><p>As of 11:30 a.m. on June 28, the real-time list of the Forbes Rich List showed that CATL Chairman Zeng Yuqun was worth US $44.7 billion (approximately 288.8 billion yuan), ranking 30th in the world. This is his first time in the top 30 of the list.</p><p>At the beginning of May, Zeng Yuqun successfully won the title of the richest man in Hong Kong. With a net worth of $34.5 billion, he shook the list of the richest man in Hong Kong, which has been dominated by the \"Lee family\" for more than 20 years. His personal wealth once surpassed that of Lee Shau Kee ($32.1 billion) and Li Ka-shing ($34.4 billion).</p><p>At that time, Zeng Yuqun's ranking on the global rich list rose to 42nd in the world, and now he has broken through into the top 30.</p><p>Within a year, CATL went out of the circle many times and attracted much attention in the primary and secondary markets. As the first A-share technology company with a market value of trillions, how long can CATL stand in the C position?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3634141\">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/983e0432c72ee1117f6c5b8a19ed6e25","relate_stocks":{"300750":"宁德时代","TSLA":"特斯拉"},"source_url":"https://wallstreetcn.com/articles/3634141","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147863759","content_text":"宁德时代最近成为新能源界的C位担当，一是因为董事长曾毓群暴涨的身价，二是因为和特斯拉的一纸电池合约。\n6月28日，宁德时代发布公告称，公司已与特斯拉签订协议，将在2022年1月至2025年12月期间，也就是未来四年，向特斯拉供应锂离子动力电池产品。具体的采购情况特斯拉以订单方式确定，最终销售金额须以特斯拉发出的采购订单实际结算为准。\n未来，特斯拉旗下的Model 3、Model Y等车型将会使用来自宁德时代的电池组。\n\n受此消息影响，6月29日，宁德时代股价再创新高，盘中股价一度达到519.60元/股，总市值突破1.2万亿元。截至收盘，宁德时代股价报收508.51元/股，涨幅达2.96%。成为A股中第一家跨进万亿俱乐部的科技股。\n值得一提的是，自去年以来，宁德时代的股价如同坐上火箭，总市值由0.23万亿元上涨至1.18万亿元，涨幅超过4倍。\n6月29日，中金公司对此合作评价称，宁德时代此次与特斯拉的协议较之前合作力度更大，考虑到公司下游需求超预期，上调宁德时代的盈利预测，并将目标价调升9%至600元人民币。中金还上调了宁德时代2021-2023年的盈利预测10%、25%和8%，分别至110亿元、200亿元和267亿元。\n东吴证券近日发布研报称，维持宁德时代买入评级，目标价格为607.5元。其评级理由就包括：与车企的战略合作协议系绑定电池产能，能解决电池供应瓶颈，确保产能不受限。\n另外，中金分析师曾韬等在报告中指出，此次协议未约定中国市场，意味着宁德时代将以配合特斯拉全球市场供应为契机，推动产品加速走向全球。全球需求提振下，宁德时代远期全球市场份额有望达到30%以上。\n这是两家头部企业的再次握手。对于已经站上万亿市值高位的宁德时代而言，与第一大客户特斯拉的深度捆绑，不仅关乎该客户带来的电池装机量，更是一张突围海外动力电池市场的重要门票。\n二次“牵手”\n据悉，2018年，马斯克在签署特斯拉上海工厂落地协议时，曾秘密会见宁德时代董事长曾毓群，不过双方未达成实质性协议。\n在“2019世界人工智能大会”上，二人再度会面，用40多分钟敲定了合作意向。\n2020年2月，一份合约让新造车和动力电池的两家头部企业真正走到一起。彼时，宁德时代与特斯拉签订《Production Pricing Agreement (China)》，拟于2020年7月至2022年6月期间向特斯拉供应锂离子动力电池产品。\n据此合约，宁德时代为特斯拉在上海生产的Model 3供应电池。2021年初，特斯拉推出Model Y后，双方的合作范围也有望进一步扩大。\n今年6月25日，在该协议的基础上，双方又签订了上文提及的合作框架协议《Production Pricing Agreement》。协议约定宁德时代计划在未来四年向特斯拉供应锂离子动力电池产品。有分析认为，前后两份合作框架协议的区别在于去掉了“China”，预示着本次供货协议将覆盖全球。\n双方的合作进一步深入，其实早就有预示。\n6月3日，路透社援引知情人士消息称，宁德时代计划在上海新建一家大型动力电池厂，提供特斯拉在全球范围内一半用于电动汽车和屋顶储能的电池。\n有传言称，上海工厂年产能将达到80GWh，而宁德时代现有产能为69.1GWh，并有77.5GWh产能在建中。\n另外，宁德时代日前发生的“乌龙事件”也与特斯拉有关。近日，有自称是宁德时代员工的人员爆料，宁德时代强制经理级别员工购买特斯拉Model 3，有员工称公司推出购买特斯拉的优惠活动，是为了清掉“电池有问题”的特斯拉库存。\n宁德时代则表示，没有质量问题，也没有强制购买。“关于员工购买特斯拉是公司为推行全面电动化，以优惠价格鼓励员工购买电动车，没有强制，也不限于特斯拉，包括其大部分供货的品牌。称此活动已持续三年，去年是在国庆节期间。”\n“绑定”加深\n不论乌龙事件如何，特斯拉和宁德时代的关系都在进一步绑定。\n宁德时代2021年Q1财报显示，公司面向前五大客户的销售金额占当期应收比例为41.08%，公司主要客户为大型境内外车企。2020年年报显示，公司面对第三和第四大客户的销售额差距不大。\n\n而据世纪证券，按装机口径计算， 2020年特斯拉为宁德时代第三大客户，而到2021年第一季度，特斯拉一跃成为最大客户 。\n双方的绑定加深，不仅在于特斯拉跃升为最大客户。更关键的是特斯拉是宁德时代突围海外动力电池市场的重要门票之一。\n此前，宁德时代副总经理、董事会秘书蒋理曾表示，宁德时代与特斯拉的合作不局限于国内。新合约或许就是双方的动力电池合作走出国门的开始。\n公开数据表明，宁德时代在动力电池装机量上已经处于C位。2020年工信部公布的新能源车型有效目录共有6800多款车型，其中宁德时代配套动力电池的有3400多款，在全部动力电池厂商中占比最高。\n宁德时代在全球动力电池竞争中的优势也在进一步扩大。\n据韩国行业调研机构SNE Research最新数据，2021年第一季度，全球电动车电池能耗为47.8 GWh，同比增长127%，宁德时代一季度的大幅增长为主要推动力。\n数据显示，第一季度，宁德时代电池装机量同比增长320.8%至15.1 GWh，市占率从2020年全年的25%再度扩大至31.5%，而其最大竞争对手LG化学以及松下的市占率则分别下降至20.5%和16.7%，松下市占率一年内下降近10个百分点。\n但高处不胜寒，宁德时代仍然需要面对海内外不少竞争对手。\n在海外，有LG化学等企业虎视眈眈；在国内，比亚迪已经对宁德时代构成了威胁。去年3月，比亚迪发布了基于磷酸铁锂材料的刀片电池，并逐渐从自用开放给第三方车企。\n因而，此时与特斯拉加深绑定，对宁德时代而言，无论是对动力电池装机量，还是进一步提升海内外市场竞争力，或许都存在一些好处。\n“C位”挑战\n虽然本次是特斯拉的电池合约将宁德时代送上C位，但这家万亿市值的公司，在新能源领域的地位已经十分稳固。\n作为全球头部动力电池供应商，宁德时代不仅为特斯拉等新造车代表供货，还与奔驰、本田等传统车企合作。国内新造车三家企业也选择了宁德时代的动力电池。\n韩国新能源分析机构SNE统计称，宁德时代已连续四年在全球动力电池装车量排名中居于首位。就在2020年，宁德时代动力电池的全球装车量为34GWh，市场份额接近四分之一。\n随着新能源板块的火爆，这家幕后巨头从去年开始走向台前，获得资本关注。例如，在2020年清仓蔚来后，高瓴资本就转而重仓宁德时代，认购了100亿元的定增。\n股价飙升的宁德时代，也受到更多投资者的关注。5月21日，宁德时代还接待了33家机构投资者共54人的调研，其中包括大型公募基金、外资机构以及券商资管等。这些机构投资者们关心的话题，主要在固态电池发展、公司三大战略方向以及光伏领域的布局等方面。\n被外界认知的不止有宁德时代，其董事长曾毓群也屡次跻身福布斯富豪榜的前列。\n截至6月28日上午11点半，福布斯富豪榜的实时榜单显示，宁德时代董事长曾毓群身价达到447亿美元（约合2888亿元人民币），位列全球第30位。这是他首次进入榜单前30名。\n而就在5月初，曾毓群成功问鼎香港首富。他以345亿美元的身价，动摇了被“李氏家族”霸榜20余年的香港首富榜，个人财富一度超过李兆基（321亿美元）和李嘉诚（344亿美元）。\n彼时，曾毓群在全球富豪榜上的排名升至全球第42名，而今他已经突围进前30名。\n一年之内，宁德时代多次出圈，在一、二级市场备受关注。作为A股第一家万亿市值的科技公司，宁德时代在C位上又能矗立多久？","news_type":1,"symbols_score_info":{"300750":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1940,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159278430,"gmtCreate":1624972770820,"gmtModify":1703849121165,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159278430","repostId":"1162626672","repostType":4,"repost":{"id":"1162626672","kind":"news","pubTimestamp":1624950782,"share":"https://ttm.financial/m/news/1162626672?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:13","market":"us","language":"zh","title":"Buffett summed up 8 valuable experiences and lessons from the epidemic","url":"https://stock-news.laohu8.com/highlight/detail?id=1162626672","media":"智通财经 ","summary":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教","content":"<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Despite giving billions of dollars to charity, Buffett's net worth surpassed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01New investment? Leveraging the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments-one that turned out to be a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have recommended it to people for a long time,\" Buffett said, adding that 90% of the money he left to his wife would go into the S&P 500 after his death.</p><p>The S&P 500 Index Fund is a mutual fund or ETF that mimics the familiar stock index that tracks the 500 largest companies in the United States. Despite the outbreak, the S&P 500 soared 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings about Berkshire, they should buy the S&P 500,\" Buffett said at a shareholder meeting in Los Angeles.</p><p>02 Be practical-even when the market loses its mind</p><p>Buffett recommends investors a long-term and practical approach, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in '89 are from the 2021 edition. The lesson is this: things are fickle, and picking winners isn't easy.</p><p>\"If you only hold diversified stocks, like U.S. stocks, that would be my preference, but for more than 30 years,\" he said.</p><p>03 Don't expect pensions</p><p>One of the more alarming trends Buffett delved into at the Berkshire Hathaway conference, the increasingly precarious status of many state pension funds, is an issue he says he has been following since 2013.</p><p>\"Pensions are terrible in a lot of states,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed states' finances and has only exacerbated the current pension problem that has no long-term solution. Before the pandemic began, the state pension scheme was already short of $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis has devastated the entire aviation industry, yet airlines have survived with the help of the government. But without that support, you're looking at a whole new air crash. The industry still has many months to go before it wants to return to normal business (and normal profit margins).</p><p>\"I still don't want to buy airlines,\" Buffett told his Berkshire shareholders.</p><p>Delta Air Lines (DAL), one of the airlines Berkshire dumped from its portfolio, saw its shares fall by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett doesn't have much confidence in the airline industry's economic fundamentals.</p><p>05 Stick to your long-term plan</p><p>Stick to your financial goals, Buffett said. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the U.S., but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways.\"</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. At the Berkshire conference, he was even reminded that he once said it was \"too short\" to hold a stock forever.</p><p>06 Make the Most of Low Interest Rates</p><p>With interest rates falling, Buffett says now is a good time to borrow money.</p><p>With the Fed's commitment to keep key interest rates near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low-rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"It's been revived in a very effective way through the actions of the Fed.\"</p><p>07 Avoid Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a great survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's online shareholder meeting in 2020, he recalled the advice he gave to a friend who had a windfall and was thinking about the smartest way to spend. She told Buffett that she also has credit card debt-18% interest.</p><p>Buffett remembers saying to her, \"If I had 18% debt, the first thing I would do with the money I had on hand would be to pay it off.\" \"You can't borrow money at that rate all your life and get better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett said that a \"catastrophe\" is coming. Calling Buffett an \"oracle\" is not for nothing. In 2019, he warned of a \"mega-catastrophe\" for the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the United States, Buffett said in an interview, \"I always felt that a pandemic would happen sooner or later.\"</p><p>You'd think someone who has invested so much in the insurance industry would have the foresight-Berkshire owns Geico and several other insurers-that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happen in the world over the last 15 months,\" he told his investors this year. \"And we're always aware of stranger things going to happen in the future.\"</p>","source":"stock_zhitongcaijing","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>Buffett summed up 8 valuable experiences and lessons from the epidemic</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\">\nBuffett summed up 8 valuable experiences and lessons from the epidemic\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经 </strong><span class=\"h-time small\">2021-06-29 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>One of the ways many people succeed is to treat every crisis as an opportunity.</b>Despite giving billions of dollars to charity, Buffett's net worth surpassed the $100 billion mark in March of this year. Not only has Buffett gotten richer, but he has brought some valuable lessons for other investors.</p><p>01New investment? Leveraging the S&P 500</p><p>At Berkshire Hathaway's annual meeting last month, Buffett talked about one of his favorite investments-one that turned out to be a winner during the pandemic.</p><p>\"I recommend the S&P 500 index fund and have recommended it to people for a long time,\" Buffett said, adding that 90% of the money he left to his wife would go into the S&P 500 after his death.</p><p>The S&P 500 Index Fund is a mutual fund or ETF that mimics the familiar stock index that tracks the 500 largest companies in the United States. Despite the outbreak, the S&P 500 soared 16% in 2020 and hit a new high in 2021.</p><p>\"I like Berkshire, but I think someone who knows nothing about stocks and doesn't have any special feelings about Berkshire, they should buy the S&P 500,\" Buffett said at a shareholder meeting in Los Angeles.</p><p>02 Be practical-even when the market loses its mind</p><p>Buffett recommends investors a long-term and practical approach, rather than \"making 30 or 40 trades a day.\"</p><p>During the conference, Buffett presented two slides showing the 20 largest companies in the world by market capitalization today and in 1989. None of the companies that made the list in '89 are from the 2021 edition. The lesson is this: things are fickle, and picking winners isn't easy.</p><p>\"If you only hold diversified stocks, like U.S. stocks, that would be my preference, but for more than 30 years,\" he said.</p><p>03 Don't expect pensions</p><p>One of the more alarming trends Buffett delved into at the Berkshire Hathaway conference, the increasingly precarious status of many state pension funds, is an issue he says he has been following since 2013.</p><p>\"Pensions are terrible in a lot of states,\" Buffett said. \"It's not getting better. Obviously, it's not getting better at all.\"</p><p>The pandemic has killed states' finances and has only exacerbated the current pension problem that has no long-term solution. Before the pandemic began, the state pension scheme was already short of $1 trillion to meet future obligations to retirees, according to Pew Charitable Trusts.</p><p>04Investors should be wary of certain investments</p><p>Buffett dumped airline stocks because of COVID-19.</p><p>The pandemic crisis has devastated the entire aviation industry, yet airlines have survived with the help of the government. But without that support, you're looking at a whole new air crash. The industry still has many months to go before it wants to return to normal business (and normal profit margins).</p><p>\"I still don't want to buy airlines,\" Buffett told his Berkshire shareholders.</p><p>Delta Air Lines (DAL), one of the airlines Berkshire dumped from its portfolio, saw its shares fall by more than half between March 1 and May 15 last year. Since then, the stock and other major U.S. airlines have recovered, but Buffett doesn't have much confidence in the airline industry's economic fundamentals.</p><p>05 Stick to your long-term plan</p><p>Stick to your financial goals, Buffett said. Buffett remains confident that the U.S. economy will rebound from the COVID-19 crisis, but he told shareholders that the future is far from certain.</p><p>\"You can bet on the U.S., but you have to be careful how you bet,\" he said. He later reiterated that the world can change in \"very, very dramatic ways.\"</p><p>Buffett has never wavered in his belief that holding stocks for a long time is the right investment strategy for a stable financial future. At the Berkshire conference, he was even reminded that he once said it was \"too short\" to hold a stock forever.</p><p>06 Make the Most of Low Interest Rates</p><p>With interest rates falling, Buffett says now is a good time to borrow money.</p><p>With the Fed's commitment to keep key interest rates near zero, Buffett sees an excellent opportunity for borrowers in 2021.</p><p>\"These are fascinating times,\" Buffett told investors, adding that the low-rate environment is \"very pleasant.\"</p><p>\"The economy fell off a cliff in March 2020,\" Buffett said. \"It's been revived in a very effective way through the actions of the Fed.\"</p><p>07 Avoid Credit Card Debt</p><p>If you have credit card debt, get rid of it, Buffett said.</p><p>The pandemic has led to business closures and layoffs, forcing millions of Americans to rely on credit cards for basic financial needs. It's a great survival strategy, but the resulting balance and high interest rates can create long-term financial stress.</p><p>At Berkshire's online shareholder meeting in 2020, he recalled the advice he gave to a friend who had a windfall and was thinking about the smartest way to spend. She told Buffett that she also has credit card debt-18% interest.</p><p>Buffett remembers saying to her, \"If I had 18% debt, the first thing I would do with the money I had on hand would be to pay it off.\" \"You can't borrow money at that rate all your life and get better off.\"</p><p>08 Always Prepare for the Worst</p><p>Buffett said that a \"catastrophe\" is coming. Calling Buffett an \"oracle\" is not for nothing. In 2019, he warned of a \"mega-catastrophe\" for the world that would dwarf the chaos caused by Hurricanes Katrina and Michael.</p><p>When the pandemic first hit the United States, Buffett said in an interview, \"I always felt that a pandemic would happen sooner or later.\"</p><p>You'd think someone who has invested so much in the insurance industry would have the foresight-Berkshire owns Geico and several other insurers-that preparing for the worst is a central part of the business model.</p><p>\"We've seen some strange things happen in the world over the last 15 months,\" he told his investors this year. \"And we're always aware of stranger things going to happen in the future.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/503261.html\">智通财经 </a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.A":"伯克希尔"},"source_url":"https://www.zhitongcaijing.com/content/detail/503261.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162626672","content_text":"许多人成功的方法之一是把每一次危机都当作一个机会来对待。尽管巴菲特向慈善机构捐赠了数十亿美元，但他的净资产在今年3月突破了1000亿美元大关。巴菲特不仅变得更富有，还为其他投资者带来了一些宝贵的经验教训。\n01  新投资吗?利用标普500\n在上个月伯克希尔哈撒韦公司的年会上，巴菲特谈到了他最喜欢的一项投资——该投资在疫情期间成为赢家。\n巴菲特说:“我推荐标普500指数基金，并且长期以来一直向人们推荐。”他还说，在他去世后，他留给妻子的90%的钱将进入标普500基金。\n标普500指数基金是模仿人们熟悉的跟踪美国500家最大公司的股票指数的共同基金或ETF。尽管疫情爆发，标普500指数在2020年飙升16%，并在2021年创下新高。\n巴菲特在洛杉矶的股东大会上表示:“我喜欢伯克希尔，但我认为一个对股票一无所知，对伯克希尔没有任何特殊感觉的人，他们应该购买标普500指数。”\n02  要实际——即使在市场失去理智的时候\n巴菲特建议投资者长期且实际的方法，而不是“每天进行30或40笔交易。”\n在会议期间，巴菲特展示了两张幻灯片，展示了当今和1989年全球市值最大的20家公司。89年上榜的公司没有一家是2021年版的。教训是:世事无常，挑选赢家并不容易。\n\"如果你只持有多元化的股票，比如美国股票，那将是我的偏好，但要持有超过30年，\"他说。\n03  不要指望养老金\n巴菲特在伯克希尔哈撒韦公司的会议上深入研究的一个更令人担忧的趋势，许多州养老基金的地位越来越不稳定，他说他从2013年就开始关注这个问题。\n巴菲特说:“很多州的养老金状况都很糟糕。”“情况并没有好转。显然，情况一点也没有好转。”\n疫情已经扼杀了各州的财政，只会加剧目前没有长期解决方案的养老金问题。Pew Charitable Trusts的数据显示，在大流行开始之前，国家养老金计划已经缺乏1万亿美元的资金来满足未来对退休人员的义务。\n04  投资者应该对某些投资保持警惕\n巴菲特因为COVID-19的原因抛售了航空股。\n疫情危机摧毁了整个航空行业，然而航空公司在政府的帮助下幸存下来。但如果没有这种支持，你会看到一场全新的空难。要想恢复正常的业务(以及正常的利润率)，该行业还有好几个月的时间。\n“我还是不想买航空公司，”巴菲特告诉他的伯克希尔股东。\n达美航空(DAL)是伯克希尔从其投资组合中抛售的航空公司之一，该公司股价在去年3月1日至5月15日期间下跌了一半以上。此后，该股和美国其他主要航空公司的股价都有所回升，但巴菲特对航空业的经济基本面没有多大信心。\n05  坚持你的长期计划\n巴菲特说，要坚持你的财务目标。巴菲特仍然相信，美国经济将从COVID - 19危机中反弹，但他告诉股东，未来远非确定。\n“你可以押注美国，但你必须小心如何押注，”他说。他后来重申，世界可以以“非常、非常戏剧性的方式”发生变化。\n巴菲特从来没有动摇过他的信念，长期持有股票是一个稳定的财务未来的正确投资策略。在伯克希尔的会议上，他甚至被提醒说，他曾经说过永远持有一只股票“太短了”。\n06  充分利用低利率\n随着利率的下降，巴菲特说现在是借钱的好时机。\n由于美联储承诺将关键利率维持在接近零的水平，巴菲特认为2021年借款人将有极好的机会。\n“这是一个迷人的时代，”巴菲特告诉投资者，并补充说低利率环境“非常令人愉快”。\n“经济在2020年3月跌落悬崖，”巴菲特说。“通过美联储的行动，它以一种非常有效的方式复活了。”\n07  避免信用卡债务\n巴菲特说，如果你有信用卡债务，那就摆脱它。\n疫情导致企业关闭和裁员，迫使数百万美国人依靠信用卡来满足基本的金融需求。这是一个很好的生存策略，但由此产生的平衡和高利率会造成长期的财务压力。\n在伯克希尔2020年的在线股东大会上，他回忆了自己给一位获得意外之财的朋友的建议，这位朋友当时正在考虑最明智的消费方式。她告诉巴菲特，她还有信用卡债务——利息为18%。\n巴菲特记得对她说:“如果我有18%的债务，我会用手头的钱做的第一件事就是还清。”“你不可能一辈子都以这样的利率借钱，然后过得更好。”\n08  总是做最坏打算\n巴菲特说，一场“大灾难”即将来临。称巴菲特为“神谕”不是没有原因的。2019年，他警告说，世界将迎来一场“特大灾难”，这将使卡特里娜飓风和迈克尔飓风造成的混乱相形见绌。\n当疫情首次袭击美国时，巴菲特在一次采访中说，“我一直觉得一场大流行迟早会发生。”\n你可能会认为，在保险业投入如此之多的人会有这样的远见——伯克希尔哈撒韦拥有Geico和其他几家保险公司——为最坏的情况做准备是商业模式的核心部分。\n“过去15个月里，我们看到世界上发生了一些奇怪的事情，”他今年告诉他的投资者。“而且我们总是意识到未来会发生更奇怪的事情。”","news_type":1,"symbols_score_info":{"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":2286,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127303731,"gmtCreate":1624833196323,"gmtModify":1703845568283,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127303731","repostId":"1153717092","repostType":4,"repost":{"id":"1153717092","kind":"news","weMediaInfo":{"introduction":"致力于提供最及时的财经资讯，最专业的解读分析，覆盖宏观经济、金融机构、A股市场、上市公司、投资理财等财经领域。","home_visible":1,"media_name":"券商中国","id":"9","head_image":"https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f"},"pubTimestamp":1624760568,"share":"https://ttm.financial/m/news/1153717092?lang=en_US&edition=fundamental","pubTime":"2021-06-27 10:22","market":"sh","language":"zh","title":"How to mine ten times bull stocks? Actually, it's right by your side!","url":"https://stock-news.laohu8.com/highlight/detail?id=1153717092","media":"券商中国","summary":"人们渴求十倍股，总感觉踏破铁鞋无觅处，但却忽视了来自身边的大牛股：比如厨房里的安琪酵母、海天味业、伊利股份；客厅里的格力电器、美的集团、石头科技和科沃斯；教室里的晨光文具、李宁；化妆台上的华熙生物、珀","content":"<p>People are eager for ten times stocks, and they always feel that they have nowhere to find after stepping through iron shoes, but they ignore the big bull stocks from around them: such as those in the kitchen<a href=\"https://laohu8.com/S/600298\">Angel yeast</a>、<a href=\"https://laohu8.com/S/603288\">Haitian Flavor Industry</a>、<a href=\"https://laohu8.com/S/600887\">Yili shares</a>； In the living room<a href=\"https://laohu8.com/S/000651\">Gree Electric</a>、<a href=\"https://laohu8.com/S/000333\">Midea Group</a>、<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>And<a href=\"https://laohu8.com/S/603486\">Cobos</a>； In the classroom<a href=\"https://laohu8.com/S/603899\">Chenguang Stationery</a>、<a href=\"https://laohu8.com/S/02331\">Li Ning</a>； On the dressing table<a href=\"https://laohu8.com/S/688363\">Huaxi Biotech</a>、<a href=\"https://laohu8.com/S/603605\">Proya</a>……</p><p>In investment, the password of big bull stocks is often hidden in daily life. In September, 2016, a friend's child was promoted to the first grade of primary school. The class teacher of this little classmate is a special teacher with more than 20 years of teaching experience. Because he is extremely concerned about students' writing beauty and the cleanliness of the roll surface, this teacher recommended an eraser printed with Miffy Rabbit. The reason for the recommendation is that it is cleaner than other brands of erasers. The manufacturer of this eraser is Chenguang Stationery. This child is now in the fifth grade, and Chenguang Stationery has increased nearly four times in the past five years.</p><p>There is no secret for stock selection. In fact, whether it is the stock god Buffett or the \"most legendary fund manager in history\" Peter Lynch, they all call themselves \"technophobes\", and their super bull stocks mostly come from simple and easy business. Understand consumer stocks, such as Buffett's<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>See's Candy and Apple, Peter Lynch's<a href=\"https://laohu8.com/S/HD\">Home Depot</a>、<a href=\"https://laohu8.com/S/DNKN\">Tang En Dole</a>Doughnuts and<a href=\"https://laohu8.com/S/MCD\">McDonald's</a>And other companies.</p><p>Ordinary investors may not be able to understand which company is competitive in the high-tech industry, the position of the macroeconomic cycle, or the leverage of financial companies, but they have basic judgment on the quality of soy sauce, the popularity of stationery, and the quality of cosmetics. Whether the brand is deeply rooted in the hearts of the people and whether household appliances are good.</p><p>Stocks are not codes, behind them are living companies. The first principle of investing is to know what you are buying, and the main reason why investors suffer heavy losses is to follow the trend and buy companies that they don't understand.</p><p>Consumer stocks around them, such as \"food, clothing, housing and transportation\", have two characteristics: easy tracking and clear and understandable business logic. As Liu Mingda, chairman of Mingda Investment, said, \"We prefer consumer stocks because consumer stocks are easier to predict. If there is no long-term belief in the future, it is difficult to make long-term money.\"</p><p>As Zhong Zhaomin, chairman of Oriental Marathon, said, \"Not understanding business logic is a terminal disease of investment, and researchers who can't smell money are unqualified.\"</p><p><b>You invest in companies, not markets</b></p><p>There is a stock that unfortunately caught up with the four-year consecutive bear market of A-shares after its listing on August 18, 2000. The Shanghai Composite Index soared from 2,100 points to 998 points on June 6, 2005; Since then, it has followed the ups and downs of the stock market, including the big bear market in 2008 and the huge shock in 2015. So far, the Shanghai Composite Index has only risen 67% from the stock's listing date, but this stock has risen nearly 10 times from its closing price on its first day.</p><p>This stock comes from Angel yeast in the kitchen. On August 8, 2000, the closing price of Angel Yeast on the first day of listing was 30.88 yuan, corresponding to a P/E of 70 times. After nearly 22 years, the share price of Angel Yeast has increased 10 times, and the restoration price is 330 yuan. In these 21 years, although Angel Yeast's P/E has dropped by half, its profit has increased by 32 times. The growth of income is the key to ensuring that this stock crosses the bull and bear trends. From the investment point of view, Angel Yeast's excess returns are not obvious, because the P/E corresponding to the company's listing at the beginning is relatively high.</p><p>It's not just Angel Yeast that comes out of the kitchen with 10 times stocks. Since its listing, Yili shares have risen more than 300 times.<a href=\"https://laohu8.com/S/000895\">Shuanghui Development</a>It rose 45 times,<a href=\"https://laohu8.com/S/603345\">Yasui Foods</a>It rose 14 times, Haitian Flavor Industry rose 11 times,<a href=\"https://laohu8.com/S/600305\">Heng Shun Vinegar Industry</a>It went up 8 times...</p><p>In the big consumption track, light medical beauty stocks have been unstoppable in the past two years. Interested female consumers over 40 will easily find that micro-adjustment and light medical beauty are increasingly becoming topics of great interest, whether it is the \"dormitory group\" of former universities or the \"mother group\" where children often gather.</p><p>In the eyes of many female consumers over 40 +, traditional daily care can no longer solve the problems caused by years such as skin spots and wrinkles, while \"girl needles\", \"hydrating needles\" and \"high body\" are subversive solutions. The consumer price of light medical beauty is not much different from the price of traditional high-end daily care products, but the effect of the former is almost immediately visible. Once a consumer comes into contact with \"light medical beauty\", her beauty-loving nature will prompt her to repeat in the following years. buy. High gross profit, repeated purchases and increased penetration rate are the three key factors that generate bull stocks.</p><p>Similarly, for teenagers, Li Ning's clothing has become more and more popular in recent years, and even Li Ning's skipping rope has become popular all over primary school campuses. Li Ning has been an out-and-out ten-fold stock in the past three years; Under the COVID-19 pandemic, because \"aunts\" are hard to find, Ecovacs and Roborock Technology sweep the floor<a href=\"https://laohu8.com/S/300024\">Robot</a>More and more appear in the living room, and Ecovacs has also become a tenfold stock in the past two years.</p><p>For individual investors, what you invest in is the company, not the market. Choosing the right excellent company is the key to successful investment. For investment, even if you avoid all the big drops, it will be in vain not to choose an excellent company. Only by choosing a good company and being a friend of time can you really benefit from the investment.</p><p><b>Why is it easier to make big money with bull stocks around you</b></p><p><b>For ordinary investors, most of the bull stocks around them are consumer stocks, and consumer stocks have two advantages: one is that the investment logic is simple, and the other is that they are easy to track.</b></p><p>From the perspective of business logic, consumer goods that occupy consumers' minds have the ability to raise prices, which will be manifested in a certain degree of price increase, and will not cause customer loss. The ability to raise prices will be reflected in the growth of corporate profits, and ultimately drive the stock price up.</p><p>If you are a housewife, you will naturally pay attention to the above-mentioned price increase trend of daily necessities in the kitchen: around 2010, 20g Angel yeast was about 1.5 yuan per bag, but now 5g Angel yeast is about 1 yuan per bag, and the price increase of yeast has been 1 ~ 2 times in the past ten years; At the beginning of 2000, the price of a barrel of 1.28 L Haitian gold soy sauce was around 9 yuan, but now the price of this variety is between 21-23 yuan, and Haitian extremely fresh soy sauce is above 26 yuan, which means that in the past 10 years, the price of Haitian soy sauce has unconsciously doubled.</p><p>If you are a high-end business person, you will naturally pay attention to the custom of \"no wine, no banquet\", while Feitian Maotai represents the owner's attitude of \"treating guests with the best wine\". In 1951, the ex-factory price of Moutai was 1.28 yuan per bottle, but now the ex-factory price of Pufei is 969 yuan per bottle. The annualized price increase of Moutai is more than 11%.</p><p>The price increase of the product will ultimately be reflected in the growth of the company's profits, and ultimately drive the stock price upward. Peter Lynch once took Philip Morris, a big bull stock that produces cigarettes, as an example: if the product price increases by 6%, the cost increases by 4%, and the corporate profit margin increases by 2%, it may not look bright, but if the company's profit margin is 10%, the company's annual revenue will increase by 20% (2%/10% = 20%).</p><p>Secondly, consumer goods manufacturers have abundant free cash flow, and their expansion does not depend on capital expenditure. However, because asset-heavy companies need to constantly upgrade their equipment to ensure their competitiveness, their cash inflows will flow out again at some point in time. If the essence of investment is \"buying stocks is buying companies, and buying companies is buying future cash flows\", consumer goods companies are more likely to get high valuations.</p><p>For ordinary investors, the characteristic of consumer stocks is that they are easy to track. Whether you are visiting supermarkets, visiting e-commerce, eating out or chatting with friends, you can find out about the sales of the products of the company you are tracking from different aspects. For investors, only continuous tracking can form long-term confidence and make long-term money.</p><p><b>Investments require continuous evaluation</b></p><p>A popular product is just a prompt for investors to pay attention to the company, and does not mean that the publicly traded company that makes the product is worth investing in. Although a great company needs great products, the popularity of products does not necessarily mean that the company has investment value. Good products are just important signals for interested investors.</p><p>The advertising slogan \"VV Soymilk, Happy and Happy\" made VV Soymilk a household name, but VV's share price was less than 20% higher than the closing price on the first day of listing on June 30, 2000;<a href=\"https://laohu8.com/S/000716\">Black sesame</a>Once the king of CCTV, the advertising slogan \"a strong fragrance, a wisp of warmth\" can bring back many consumers' childhood memories, but so far, the stock price of Black Sesame is still lower than the closing price of the first day of listing on April 18, 1997. The price is about 20%.</p><p>Although the stock prices of VV and Black Sesame performed poorly, it is not difficult for investors to find changes in consumer habits, so as to avoid losses in investment. In fact, with the improvement of living standards, milk has gradually replaced soy milk and sesame paste as the main breakfast drinks, and Yili shares have also become a big bull stock.</p><p>However, consumer goods companies generally have a relatively large chance of winning. According to the statistics of Chinese brokerage reporters, since 2000, among the 118 food and beverage stocks, 85 stocks have more than doubled, of which 25 stocks have increased more than 10 times, and only 7 stocks are in a state of decline.</p><p>In addition to perceiving the competitiveness of products, investors also need to continuously read annual reports and conduct comprehensive research and comprehensive evaluation of enterprises. The more details they have, the stronger their ability to predict the future.</p><p>In the era where the Internet is ubiquitous, the words and deeds of entrepreneurs, the strength of enterprises to launch new products, the competitive pattern of the industry, the brand power of enterprises, the channel power of enterprises and other information can be searched piece by piece like a puzzle. The richer and more detailed the information obtained, the stronger the investor's ability to predict the future of the enterprise. All this needs to be based on the cognition that buying stocks is buying companies.</p><p>In addition, investors should also have a basic judgment on valuation, but valuation does not mean that 50 times is overvaluation, and 20 times is undervaluation. The valuation of an enterprise must match the quality of the enterprise. Buffett invested in See's Candy in 1971. The company has contributed more than 100 times of Buffett's income in 50 years. So how should the valuation of See's Candy companies be given? However, in any case, overvaluation means that it may take a lot of time to digest the valuation, and if you read it wrong, you will suffer heavy losses.</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>How to mine ten times bull stocks? Actually, it's right by your side!</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\">\nHow to mine ten times bull stocks? Actually, it's right by your side!\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/9\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">券商中国 </p>\n<p class=\"h-time smaller\">2021-06-27 10:22</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>People are eager for ten times stocks, and they always feel that they have nowhere to find after stepping through iron shoes, but they ignore the big bull stocks from around them: such as those in the kitchen<a href=\"https://laohu8.com/S/600298\">Angel yeast</a>、<a href=\"https://laohu8.com/S/603288\">Haitian Flavor Industry</a>、<a href=\"https://laohu8.com/S/600887\">Yili shares</a>； In the living room<a href=\"https://laohu8.com/S/000651\">Gree Electric</a>、<a href=\"https://laohu8.com/S/000333\">Midea Group</a>、<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>And<a href=\"https://laohu8.com/S/603486\">Cobos</a>； In the classroom<a href=\"https://laohu8.com/S/603899\">Chenguang Stationery</a>、<a href=\"https://laohu8.com/S/02331\">Li Ning</a>； On the dressing table<a href=\"https://laohu8.com/S/688363\">Huaxi Biotech</a>、<a href=\"https://laohu8.com/S/603605\">Proya</a>……</p><p>In investment, the password of big bull stocks is often hidden in daily life. In September, 2016, a friend's child was promoted to the first grade of primary school. The class teacher of this little classmate is a special teacher with more than 20 years of teaching experience. Because he is extremely concerned about students' writing beauty and the cleanliness of the roll surface, this teacher recommended an eraser printed with Miffy Rabbit. The reason for the recommendation is that it is cleaner than other brands of erasers. The manufacturer of this eraser is Chenguang Stationery. This child is now in the fifth grade, and Chenguang Stationery has increased nearly four times in the past five years.</p><p>There is no secret for stock selection. In fact, whether it is the stock god Buffett or the \"most legendary fund manager in history\" Peter Lynch, they all call themselves \"technophobes\", and their super bull stocks mostly come from simple and easy business. Understand consumer stocks, such as Buffett's<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>See's Candy and Apple, Peter Lynch's<a href=\"https://laohu8.com/S/HD\">Home Depot</a>、<a href=\"https://laohu8.com/S/DNKN\">Tang En Dole</a>Doughnuts and<a href=\"https://laohu8.com/S/MCD\">McDonald's</a>And other companies.</p><p>Ordinary investors may not be able to understand which company is competitive in the high-tech industry, the position of the macroeconomic cycle, or the leverage of financial companies, but they have basic judgment on the quality of soy sauce, the popularity of stationery, and the quality of cosmetics. Whether the brand is deeply rooted in the hearts of the people and whether household appliances are good.</p><p>Stocks are not codes, behind them are living companies. The first principle of investing is to know what you are buying, and the main reason why investors suffer heavy losses is to follow the trend and buy companies that they don't understand.</p><p>Consumer stocks around them, such as \"food, clothing, housing and transportation\", have two characteristics: easy tracking and clear and understandable business logic. As Liu Mingda, chairman of Mingda Investment, said, \"We prefer consumer stocks because consumer stocks are easier to predict. If there is no long-term belief in the future, it is difficult to make long-term money.\"</p><p>As Zhong Zhaomin, chairman of Oriental Marathon, said, \"Not understanding business logic is a terminal disease of investment, and researchers who can't smell money are unqualified.\"</p><p><b>You invest in companies, not markets</b></p><p>There is a stock that unfortunately caught up with the four-year consecutive bear market of A-shares after its listing on August 18, 2000. The Shanghai Composite Index soared from 2,100 points to 998 points on June 6, 2005; Since then, it has followed the ups and downs of the stock market, including the big bear market in 2008 and the huge shock in 2015. So far, the Shanghai Composite Index has only risen 67% from the stock's listing date, but this stock has risen nearly 10 times from its closing price on its first day.</p><p>This stock comes from Angel yeast in the kitchen. On August 8, 2000, the closing price of Angel Yeast on the first day of listing was 30.88 yuan, corresponding to a P/E of 70 times. After nearly 22 years, the share price of Angel Yeast has increased 10 times, and the restoration price is 330 yuan. In these 21 years, although Angel Yeast's P/E has dropped by half, its profit has increased by 32 times. The growth of income is the key to ensuring that this stock crosses the bull and bear trends. From the investment point of view, Angel Yeast's excess returns are not obvious, because the P/E corresponding to the company's listing at the beginning is relatively high.</p><p>It's not just Angel Yeast that comes out of the kitchen with 10 times stocks. Since its listing, Yili shares have risen more than 300 times.<a href=\"https://laohu8.com/S/000895\">Shuanghui Development</a>It rose 45 times,<a href=\"https://laohu8.com/S/603345\">Yasui Foods</a>It rose 14 times, Haitian Flavor Industry rose 11 times,<a href=\"https://laohu8.com/S/600305\">Heng Shun Vinegar Industry</a>It went up 8 times...</p><p>In the big consumption track, light medical beauty stocks have been unstoppable in the past two years. Interested female consumers over 40 will easily find that micro-adjustment and light medical beauty are increasingly becoming topics of great interest, whether it is the \"dormitory group\" of former universities or the \"mother group\" where children often gather.</p><p>In the eyes of many female consumers over 40 +, traditional daily care can no longer solve the problems caused by years such as skin spots and wrinkles, while \"girl needles\", \"hydrating needles\" and \"high body\" are subversive solutions. The consumer price of light medical beauty is not much different from the price of traditional high-end daily care products, but the effect of the former is almost immediately visible. Once a consumer comes into contact with \"light medical beauty\", her beauty-loving nature will prompt her to repeat in the following years. buy. High gross profit, repeated purchases and increased penetration rate are the three key factors that generate bull stocks.</p><p>Similarly, for teenagers, Li Ning's clothing has become more and more popular in recent years, and even Li Ning's skipping rope has become popular all over primary school campuses. Li Ning has been an out-and-out ten-fold stock in the past three years; Under the COVID-19 pandemic, because \"aunts\" are hard to find, Ecovacs and Roborock Technology sweep the floor<a href=\"https://laohu8.com/S/300024\">Robot</a>More and more appear in the living room, and Ecovacs has also become a tenfold stock in the past two years.</p><p>For individual investors, what you invest in is the company, not the market. Choosing the right excellent company is the key to successful investment. For investment, even if you avoid all the big drops, it will be in vain not to choose an excellent company. Only by choosing a good company and being a friend of time can you really benefit from the investment.</p><p><b>Why is it easier to make big money with bull stocks around you</b></p><p><b>For ordinary investors, most of the bull stocks around them are consumer stocks, and consumer stocks have two advantages: one is that the investment logic is simple, and the other is that they are easy to track.</b></p><p>From the perspective of business logic, consumer goods that occupy consumers' minds have the ability to raise prices, which will be manifested in a certain degree of price increase, and will not cause customer loss. The ability to raise prices will be reflected in the growth of corporate profits, and ultimately drive the stock price up.</p><p>If you are a housewife, you will naturally pay attention to the above-mentioned price increase trend of daily necessities in the kitchen: around 2010, 20g Angel yeast was about 1.5 yuan per bag, but now 5g Angel yeast is about 1 yuan per bag, and the price increase of yeast has been 1 ~ 2 times in the past ten years; At the beginning of 2000, the price of a barrel of 1.28 L Haitian gold soy sauce was around 9 yuan, but now the price of this variety is between 21-23 yuan, and Haitian extremely fresh soy sauce is above 26 yuan, which means that in the past 10 years, the price of Haitian soy sauce has unconsciously doubled.</p><p>If you are a high-end business person, you will naturally pay attention to the custom of \"no wine, no banquet\", while Feitian Maotai represents the owner's attitude of \"treating guests with the best wine\". In 1951, the ex-factory price of Moutai was 1.28 yuan per bottle, but now the ex-factory price of Pufei is 969 yuan per bottle. The annualized price increase of Moutai is more than 11%.</p><p>The price increase of the product will ultimately be reflected in the growth of the company's profits, and ultimately drive the stock price upward. Peter Lynch once took Philip Morris, a big bull stock that produces cigarettes, as an example: if the product price increases by 6%, the cost increases by 4%, and the corporate profit margin increases by 2%, it may not look bright, but if the company's profit margin is 10%, the company's annual revenue will increase by 20% (2%/10% = 20%).</p><p>Secondly, consumer goods manufacturers have abundant free cash flow, and their expansion does not depend on capital expenditure. However, because asset-heavy companies need to constantly upgrade their equipment to ensure their competitiveness, their cash inflows will flow out again at some point in time. If the essence of investment is \"buying stocks is buying companies, and buying companies is buying future cash flows\", consumer goods companies are more likely to get high valuations.</p><p>For ordinary investors, the characteristic of consumer stocks is that they are easy to track. Whether you are visiting supermarkets, visiting e-commerce, eating out or chatting with friends, you can find out about the sales of the products of the company you are tracking from different aspects. For investors, only continuous tracking can form long-term confidence and make long-term money.</p><p><b>Investments require continuous evaluation</b></p><p>A popular product is just a prompt for investors to pay attention to the company, and does not mean that the publicly traded company that makes the product is worth investing in. Although a great company needs great products, the popularity of products does not necessarily mean that the company has investment value. Good products are just important signals for interested investors.</p><p>The advertising slogan \"VV Soymilk, Happy and Happy\" made VV Soymilk a household name, but VV's share price was less than 20% higher than the closing price on the first day of listing on June 30, 2000;<a href=\"https://laohu8.com/S/000716\">Black sesame</a>Once the king of CCTV, the advertising slogan \"a strong fragrance, a wisp of warmth\" can bring back many consumers' childhood memories, but so far, the stock price of Black Sesame is still lower than the closing price of the first day of listing on April 18, 1997. The price is about 20%.</p><p>Although the stock prices of VV and Black Sesame performed poorly, it is not difficult for investors to find changes in consumer habits, so as to avoid losses in investment. In fact, with the improvement of living standards, milk has gradually replaced soy milk and sesame paste as the main breakfast drinks, and Yili shares have also become a big bull stock.</p><p>However, consumer goods companies generally have a relatively large chance of winning. According to the statistics of Chinese brokerage reporters, since 2000, among the 118 food and beverage stocks, 85 stocks have more than doubled, of which 25 stocks have increased more than 10 times, and only 7 stocks are in a state of decline.</p><p>In addition to perceiving the competitiveness of products, investors also need to continuously read annual reports and conduct comprehensive research and comprehensive evaluation of enterprises. The more details they have, the stronger their ability to predict the future.</p><p>In the era where the Internet is ubiquitous, the words and deeds of entrepreneurs, the strength of enterprises to launch new products, the competitive pattern of the industry, the brand power of enterprises, the channel power of enterprises and other information can be searched piece by piece like a puzzle. The richer and more detailed the information obtained, the stronger the investor's ability to predict the future of the enterprise. All this needs to be based on the cognition that buying stocks is buying companies.</p><p>In addition, investors should also have a basic judgment on valuation, but valuation does not mean that 50 times is overvaluation, and 20 times is undervaluation. The valuation of an enterprise must match the quality of the enterprise. Buffett invested in See's Candy in 1971. The company has contributed more than 100 times of Buffett's income in 50 years. So how should the valuation of See's Candy companies be given? However, in any case, overvaluation means that it may take a lot of time to digest the valuation, and if you read it wrong, you will suffer heavy losses.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c40bd15c801a66dfaa1ebdc0a29a3567","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153717092","content_text":"人们渴求十倍股，总感觉踏破铁鞋无觅处，但却忽视了来自身边的大牛股：比如厨房里的安琪酵母、海天味业、伊利股份；客厅里的格力电器、美的集团、石头科技和科沃斯；教室里的晨光文具、李宁；化妆台上的华熙生物、珀莱雅……\n在投资中，日常生活里往往藏着大牛股的密码。2016年9月，有个朋友的小孩升入小学一年级，这位小同学的班主任是一位教龄超过20年的特级教师。由于极其关注学生书写美感和卷面整洁，这位老师推荐了一款印有米菲小兔的橡皮，推荐的理由是擦得比其它牌子橡皮更干净。而这款橡皮的生产商正是晨光文具，这位小朋友现在已经是五年级了，晨光文具在过去五年里也涨幅接近4倍。\n选股并无秘籍，其实无论是股神巴菲特，还是“历史上最传奇的基金经理”彼得·林奇，无不自称为“技术恐惧症者”，他们的超级大牛股也多来源于业务简单易懂的消费股，比如巴菲特的可口可乐、喜诗糖果和苹果公司，彼得·林奇的家得宝、唐恩都乐甜甜圈圈和麦当劳等公司。\n普通投资者可能无法看懂高科技行业里哪家公司具有竞争力，无法看懂宏观经济周期的位置，也无法看懂金融企业的杠杆，但对于酱油的品质、文具的受欢迎程度、化妆品的品牌是否深入人心、家用电器是否好使具有基本的判断力。\n股票不是代码，背后是一家家活生生的公司。投资的首要原则知道自己在买什么，而让投资者损失惨重的主要原因也是跟风买入，买了自己不懂的公司。\n“衣食住行”等身边的消费股具有容易跟踪和商业逻辑清晰易懂两大特征。正如明达投资董事长刘明达所说，“我们偏好消费股，是因为消费股更容易预测，如果对未来没有长期信念的话，难以赚到长期的钱。”\n也如东方马拉松董事长钟兆民所说，“不懂商业逻辑是投资的绝症，嗅不到金钱味道的研究员是不合格的。”\n你投资的是公司，而非大市\n有一只股票，2000年8月18日上市之后就非常不巧地赶上了A股四年连续大熊市，上证指数自2100点一路飞流直下到2005年6月6日的998点；此后它又跟随股市沉沉浮浮，包括2008年的大熊市和2015年的巨幅震荡。迄今为止，上证指数距离该股上市日仅上涨了67%，但这只股票却距离上市首日收盘价上涨了近10倍。\n这只个股就是来源于厨房里的安琪酵母。2000年8月8日，安琪酵母上市首日收盘价为30.88元，对应的市盈率为70倍。经过近22年的时间，安琪酵母的股价上涨了10倍，复权价为330元。在这21年时间中，尽管安琪酵母的市盈率下降了一半，但利润却增长了32倍，收益的增长是保证这只个股穿越牛熊的关键。从投资上来说，安琪酵母的超额收益并不明显，这是因为公司上市之初对应的市盈率相对较高。\n厨房里走出的10倍股不只是安琪酵母。自上市以来，伊利股份上涨了超300倍，双汇发展上涨了45倍，安井食品上涨了14倍、海天味业上涨了11倍、恒顺醋业上涨了8倍……\n在大消费赛道中，轻医美个股最近两年势不可挡。有心的40+以上女性消费者会非常容易发现，无论是曾经大学的“宿舍群”、还是孩子们常聚的“妈妈群”里，微调整和轻医美日渐成为兴趣浓厚的话题。\n在众多40+以上的女性消费者看来，传统的日常护理已经无法解决皮肤的斑点、起皱等岁月带来的问题，而“少女针”、“补水针”、“嗨体”等是颠覆性的解决之道。轻医美的消费价格与传统日常护理高端产品的价格相差不大，但前者的效果几乎是立等可见，消费者一旦接触到“轻医美”，爱美天性会促使她在此后的岁月中重复购买。而高毛利、重复购买和渗透率提升是产生牛股的三大关键因素。\n同样，对于青少年们来说，李宁的服装近年来越来越受欢迎，就连李宁牌的跳绳也火遍小学校园，李宁过去三年是不折不扣的十倍股；新冠疫情之下，由于“阿姨”难寻，科沃斯和石头科技的扫地机器人越来越多出现在客厅里，科沃斯过去两年也成为一只十倍股。\n对于个人投资者来说，你所投资的是公司，而非大市，选对卓越的公司才是投资成功的关键。对于投资来说，即使回避了所有的大跌，选不到优秀的公司也枉然。只有选到好的公司，做时间的朋友，才能真正在投资中获益。\n身边的牛股为何更容易赚大钱\n对于普通投资者来说，身边的牛股多为消费股，而消费股具有两大优势：一是投资逻辑简单，二是容易跟踪。\n从商业逻辑上来说，占领消费者心智的消费品具有提价能力，它会表现在一定程度的提价，也不会造成客户流失，而提价能力会反映在企业利润的增长上，最终推动股价上涨。\n如果你是一位家庭主妇，会很自然地关注到，上述厨房里的日常用品涨价趋势：2010年左右，20克装的安琪酵母大约每袋1.5元左右，但现在5克装的安琪酵母每袋大约在1元左右，过去十年间酵母涨价幅度在1～2倍；2000年初期，一桶1.28L的海天金牌酱油的价格是9元左右，但现在这个品种的价格是在21-23元之间，而海天味极鲜酱油更是在26元之上，这意味着在过去10多年的时间里，海天酱油的价格在不知不觉中提升了大约1倍多。\n如果你是高端商务人士，也会很自然关注到“无酒不成席”的习俗，而飞天茅台则代表了主人“以最好的酒来待客”的态度。1951年出厂的茅台酒价格为每瓶1.28元，而现在普飞的出厂价为每瓶969元，茅台酒年化的提价幅度大于11%。\n产品的提价最终会反映在公司利润的增长上，并最终推动股价上行。彼得·林奇曾以生产香烟的大牛股菲利普·莫里斯为例：如果产品售价提升6%，成本提升4%，企业利润率增长2%，可能看起来并不亮眼，但如果公司的利润率是10%，公司的每年收益就会增长20%（2%/10%=20%）。\n其次，消费品生产企业自由现金流充沛，它们的扩张并不依赖于资本支出。而重资产型公司因为企业需要不断更新换代设备才能保证竞争力，它的现金流入会在某个时点再次大量流出。如果投资的本质是“买股票就是买公司，买公司就是买未来现金流”，消费品企业更容易得到高估值。\n对于普通投资者来说，消费股的特性还在于容易跟踪，无论是逛超市，逛电商、下馆子或者和朋友闲聊，你都可以从不同侧面打听到自己所跟踪公司产品的销售情况。对于投资者来说，也只有持续的跟踪，才能形成长期的信心，从而赚到长期的钱。\n投资需要持续评估\n受欢迎的产品只是提示投资者关注该公司，并不代表生产该产品的上市公司就值得投资。虽然伟大的公司要有伟大的产品，但产品受欢迎并不一定意味着公司就有投资价值，好的产品只是给有心投资者的重要提示信号。\n“维维豆奶、欢乐开怀”的广告词让维维豆奶家喻户晓，但维维的股价距离2000年6月30日的上市首日收盘价仅高出不到20%；黑芝麻也曾是央视标王，“一股浓香、一缕温暖”的广告词可以勾起诸多消费者儿时的回忆，但迄今为止，黑芝麻的股价仍低于1997年4月18日上市首日收盘价约20%的幅度。\n尽管维维股份和黑芝麻的股价表现不佳，但投资者并不难发现消费者习惯的变化，从而避开投资中的亏损。其实，随着生活水平的提高，牛奶早已逐渐替代了豆奶和芝麻糊等成为早餐的主要饮品，伊利股份也成为了一只大牛股。\n不过，消费品公司的赢面总体相对较大。券商中国记者的统计数据显示，自2000年以来，在食品饮料的118只个股里，85只个股涨幅超过1倍，其中包含25只个股涨幅超过10倍，仅有7只个股处于下跌状态。\n除了感知到产品的竞争力外，投资者还需要连续阅读年报，并对企业进行全面的研究和综合的评估，掌握的细节越多，对未来的预测能力就越强。\n在互联网无处不在的时代，企业家的一言一行，企业推出新产品的力度，行业的竞争格局，企业的品牌力，企业的渠道力等等信息是可以如同拼图一般被一块块搜寻到。获得的信息越丰富细致，投资者对该企业的未来预测能力就越强。这一切都需要建立在买股票就是买公司的认知基础之上。\n除此之外，投资者还应该对估值有基本的评判，但估值并不意味着50倍就是高估，20倍就是低估，企业的估值要与企业的质地相匹配。巴菲特投资1971年投资了喜诗糖果，该公司在50年的时间里为巴菲特贡献了超过百倍的收益，那么喜诗糖果类的公司估值应该如何给呢？不过，无论如何，高估意味着可能会花费大量的时间消化估值，如果看错了更是损失惨重。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":678,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159277967,"gmtCreate":1624972940859,"gmtModify":1703849128807,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159277967","repostId":"1138372330","repostType":4,"repost":{"id":"1138372330","kind":"news","pubTimestamp":1624953281,"share":"https://ttm.financial/m/news/1138372330?lang=en_US&edition=fundamental","pubTime":"2021-06-29 15:54","market":"us","language":"zh","title":"Netflix's Next Step: Becoming Disney?","url":"https://stock-news.laohu8.com/highlight/detail?id=1138372330","media":"极客公园","summary":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix ","content":"<p>In the face of the film and television giants who are aggressively counterattacking, although Netflix has begun to make money, this is far from enough.</p><p>Netflix Starts Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>Yeah, I've got it.</p><p>Just as Aiyouteng was still competing with the short video industry, Netflix, which was already profitable, launched Netflix Shop and entered the e-commerce field for the first time.</p><p>The Netflix Shop currently has a very limited number of items on sale, but 18. Among them, up to $135<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, there are also T-shirts for $30, but mainly clothing priced between $30 and $80. In the future, Netflix will also launch a series of products such as Stranger Things The Witcher.</p><p><b>What these products have in common is that they are all peripheral products of Netflix's IP.</b></p><p>It's hard not to think of the top player in the IP licensing market-Disney. According to data from the International Licensing Industry Association (LIMA), global sales of licensed goods in 2019 were US $292.8 billion. Disney, the first place, accounted for US $54.7 billion, which is twice Netflix's full-year revenue in 2020.</p><p>Clearly, Netflix is targeting the IP licensing cake. Behind this are Netflix's hidden worries and ambitions.</p><p><b>Netflix's worries</b></p><p>2020 was almost the best year for Netflix since its inception. Because of the epidemic, many people's entertainment activities have turned online. As a result, Netflix also increased by 37 million paying subscribers, breaking the company's growth record, and the total number of paying subscribers also exceeded 200 million historically. Correspondingly, the full-year profit increased by 76%.</p><p>This company, which was founded as a DVD rental business, turned to streaming media in time at the end of the golden age of television. Since then, it has achieved double-digit growth in paying users year after year.</p><p><b>As a company with a market value of $230 billion, Netflix's business model is extremely simple-producing high-quality content and attracting consumers to pay for subscriptions.</b>In 2019, 98.52% of Netflix's revenue came from membership fees. Analogy to domestic long video platforms<a href=\"https://laohu8.com/S/IQ\">IQiyi</a>, membership fees only account for about 50% of its total revenue, and other revenue mainly comes from online advertising and content distribution. It can be said that the growth of Netflix's revenue depends entirely on the growth of users.<b>The flip side of this statement is that once paying subscribers fail to grow continuously, Netflix's business model will usher in a crisis.</b></p><p>As the pioneer of streaming media platforms and the largest number of users, Netflix may hit the ceiling of users earlier. Streaming platforms are essentially robbing subscribers from pay TV. Take the U.S. pay TV market as an example. After reaching a peak of 101 million paying users in 2011, it has declined year by year. At present, Netflix has about 67 million users in the United States, which means that more than half of potential users have already paid for Netflix. Just in the first quarter of 2021, Netflix added only 4 million new subscribers, lower than the expected 6 million, and Netflix's stock price fell 11%.</p><p>A poor quarter of performance isn't a serious problem for Netflix, the real bone-breaking thing-Netflix's market share may be being eroded by competitors.</p><p>In order to cope with the revenue pressure brought about by the slowdown in user growth, Netflix's membership fee has increased five times. The most recent one occurred in October 2020, when the basic package remained unchanged at $8.99, and the standard and basic packages increased by $1 and $2 to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for more than a decade, HBO NOW ($14.99 for ad-free version) and HULU ($11.99 for ad-free version), but it is not much different from Disney,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared with these ambitious new generation of entrants, there is no advantage. Disney + costs just $7.99 a month, and Apple TV + costs even less at just $4.99.</p><p>The past year has almost been the Warring States Period of global streaming media, with giants Disney, Apple, and Paramount entering the market one after another.</p><p>When asked at an earnings analysis conference in the first quarter of this year how he viewed the current competition, Reed Hastings, the founder of Netflix, responded this way: Obviously, there is always new competition. But when we look at the past data, the company has been growing because we are also confident.</p><p>The confidence of the founders is one aspect, but the giants' encroachment on Netflix is also real. In 2020, Netflix's market share of original programming fell to 50% from 56% at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global Original Programming Market Share. Data Source : Parrot Analytics. Image Source:<a href=\"https://laohu8.com/S/NYT\">The New York Times</a></p><p>Behind this is the loss of content from Netflix. Because of the launch of Disney +, Netflix removed a series of Disney IP content. HBO, on the other hand, also got back the copyrights of Friends, The Big Bang Theory, Studio Ghibli and other works. Similarly, the old sitcom \"The Office\" was taken back by NBC.</p><p>Among the viewing time of subscribers, Netflix's self-produced dramas only account for 30% of the total, and the rest come from external copyrights. According to the data of \"China Business News\" magazine, the top three works on Netflix in 2018 were \"The Office\", \"Friends\" and \"Grey's Anatomy.\" New content may be the key to driving user growth, but for old audiences, they are more inclined to choose works they are familiar with.</p><p>Netflix, which has been making efforts in original content, has withdrawn most of its production plans due to the epidemic. Currently, Netflix doesn't have any big return series.</p><p>Netflix's model is more or less like a one-shot deal. After the user watches the episode, he will no longer have contact with the show. Netflix's Stranger Things \"House of Cards\" has a large number of diehard fans, but a single subscription payment model cannot fully tap the value of these IPs. This leads to a strange phenomenon: on the one hand, there are fans holding banknotes and screaming Shut up and take my money, and on the other hand, there are indifferent officials.</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Credit: memegenetator</p><p>Last year, Netflix's self-produced documentary \"Tiger King\" was watched by 34.3 million people within 10 days of its launch, making it Netflix's most successful series. A large number of \"Tiger King\" peripherals immediately appeared on the e-commerce brand Esty. But except for all, they are all copycats.</p><p>Searching for Tiger King on Esty still yields 8195 results. Credit: Esty</p><p>It's not difficult to understand why Netflix wants to launch an online mall. In the official Netflix blog, Josh Simon, head of Netflix Shop and vice president of consumer goods division, wrote:<b>We love seeing good stories go beyond the screen and become part of people's lives.</b>」「<b>We are constantly thinking about how we can expand our story world for fans, from costumes and toys to immersive events and games.</b>That's why today we're launching Netflix.shop as an exciting new destination that combines carefully curated products and rich stories in a unique Netflix shopping experience.</p><p>There's one thing reading between the lines:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man went to a hotel to find Walter Disney, offered $300 and asked for the image of Mickey Mouse to be printed on a writing table. The $300 became Disney's first franchise revenue. Nearly a hundred years later, this $300 became a big business of $54.7 billion.</p><p>Open Disney's IP list, and you will find that this is almost an endless list. In addition to its own original IPs, such as Mickey Mouse, * the Bear, Disney Princess, Lion King, etc., Disney also frantically acquired Pixar, Marvel Comics, Lucasfilm, and 20th Century Fox in the first 20 years of the 21st century. In other words, except Mickey Mouse, all the IPs you are familiar with such as Avengers, Star Wars, Avatar and Toy Story belong to Disney.</p><p>Family portraits of Disney's IP characters. Image credit: psu.edu</p><p>According to TitleMax data in 2019, 8 of the 20 most profitable IPs in the world are from Disney, with a cumulative economic value of US $355.182 billion. Among them, * the Bear, Mickey Mouse and Star Wars ranked 3rd, 4th and 5th respectively. These old IPs, which have been more than 40 years or even nearly a hundred years old, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The remaining TOP 20 Disney IPs are Disney Princess at No. 7, Marvel Universe at No. 11, Spider-Man at No. 12, Cars at No. 18 and Toy Story at No. 19. Credit: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>The movie itself may not make money, but it must drive the development of related products</b>。 Walt Disney clearly knows this well. As early as 1957, he drew a sketch that clearly described Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model painted by Walt Disney. Credit: kottke.org</p><p>In this sketch, the film studio is in a clear central position, surrounded by music, television, licensed merchandise, theme parks and publications. Take magazines, for example, movies provide articles for magazines, and magazines can promote movies and Disneyland. Each piece is closely connected, cooperating with each other and complement each other.</p><p>To this day, Disney still hasn't broken away from the underlying logic of this model. Disney never regards the animated images created as disposable consumer goods, but digs deeply as a gold mine that can be consumed for a long time. When Disney makes a movie, the company doesn't just think about the movie itself, but how to transform the story into goods, services, experiences and other derivative products. As former Disney CFO Jay Rasulo said: Every aspect of the company is brand-oriented and franchise-oriented.</p><p>Today, Disney's model is called<b>Round revenue</b>。</p><p>First of all, Disney will launch movies with IP stories as the core at a high cost, and earn the first round of revenue through the box office.</p><p>Then, Disney will sell the film rights to streaming platforms to earn a second round of revenue</p><p>At the same time, every time Disney launches a new movie, it will add corresponding new characters to the theme park, and earn the third round of revenue through Disneyland.</p><p>Finally, earn a fourth round of revenue through franchising, publishing, retail, etc.</p><p>Through these four rounds of revenue, Disney clearly squeezed out the profits of every IP. These various profit channels give Disney a key advantage over Netflix and continue the vitality of its IP.</p><p><b>Build love for stories and turn love into money</b></p><p>Unlike Disney, Netflix has no plans to build offline stores. Currently, Netflix has cooperated with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, H&M, Sephora and other retailers have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online mall system together with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times, and Kim Kardashian's brand Skims.</p><p>Simon, the project leader of Netflix Shop, once stayed at Disney Studios for six years as the production and development director.</p><p>All these messages seem to indicate Netflix's determination: Hey! We are not playing tickets, we are serious!</p><p>For years, Netflix has shied away from being an entertainment company or a tech company. Just recently, Hastings, the founder of Netflix, declared: We are really an entertainment company.</p><p>According to Matthew Ball, a former Amazon Studio executive,<b>Essentially, an entertainment company does only three things:</b></p><p><ol><li><b>Create/tell a story</b></p><p></li><li><b>Build love for these stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By that standard, Disney is easily the best company on the planet. Think about it, how many little girls want to wear Elsa's long blue dress while visiting Disneyland? How many parents will pay for it?</p><p>Netflix has done a good enough job of telling stories and building love, but can it turn love into money?</p><p>Mark A Cohen, director of retail research at Columbia Business School, expressed doubts: Most of them (Netflix's hits) have short shelf lives, unlike Disney's IPs, which are a long journey of a generation.</p><p>Despite a lot of uncertainty, this is undoubtedly Netflix's best year financially. The company has borrowed a total of $16 billion in the past 10 years. Late last year, Netflix said in its fourth-quarter earnings report that it no longer needed to seek borrowings to fund the company. In other words, Netflix has become a truly profitable company.</p><p>And its other streaming competitors are still losing money, including Disney.</p>","source":"jkgy","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>Netflix's Next Step: Becoming Disney?</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\">\nNetflix's Next Step: Becoming Disney?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">极客公园</strong><span class=\"h-time small\">2021-06-29 15:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the face of the film and television giants who are aggressively counterattacking, although Netflix has begun to make money, this is far from enough.</p><p>Netflix Starts Learning<a href=\"https://laohu8.com/S/DIS\">Disney</a>Yeah, I've got it.</p><p>Just as Aiyouteng was still competing with the short video industry, Netflix, which was already profitable, launched Netflix Shop and entered the e-commerce field for the first time.</p><p>The Netflix Shop currently has a very limited number of items on sale, but 18. Among them, up to $135<a href=\"https://laohu8.com/S/300024\">Robot</a>Alarm clocks, there are also T-shirts for $30, but mainly clothing priced between $30 and $80. In the future, Netflix will also launch a series of products such as Stranger Things The Witcher.</p><p><b>What these products have in common is that they are all peripheral products of Netflix's IP.</b></p><p>It's hard not to think of the top player in the IP licensing market-Disney. According to data from the International Licensing Industry Association (LIMA), global sales of licensed goods in 2019 were US $292.8 billion. Disney, the first place, accounted for US $54.7 billion, which is twice Netflix's full-year revenue in 2020.</p><p>Clearly, Netflix is targeting the IP licensing cake. Behind this are Netflix's hidden worries and ambitions.</p><p><b>Netflix's worries</b></p><p>2020 was almost the best year for Netflix since its inception. Because of the epidemic, many people's entertainment activities have turned online. As a result, Netflix also increased by 37 million paying subscribers, breaking the company's growth record, and the total number of paying subscribers also exceeded 200 million historically. Correspondingly, the full-year profit increased by 76%.</p><p>This company, which was founded as a DVD rental business, turned to streaming media in time at the end of the golden age of television. Since then, it has achieved double-digit growth in paying users year after year.</p><p><b>As a company with a market value of $230 billion, Netflix's business model is extremely simple-producing high-quality content and attracting consumers to pay for subscriptions.</b>In 2019, 98.52% of Netflix's revenue came from membership fees. Analogy to domestic long video platforms<a href=\"https://laohu8.com/S/IQ\">IQiyi</a>, membership fees only account for about 50% of its total revenue, and other revenue mainly comes from online advertising and content distribution. It can be said that the growth of Netflix's revenue depends entirely on the growth of users.<b>The flip side of this statement is that once paying subscribers fail to grow continuously, Netflix's business model will usher in a crisis.</b></p><p>As the pioneer of streaming media platforms and the largest number of users, Netflix may hit the ceiling of users earlier. Streaming platforms are essentially robbing subscribers from pay TV. Take the U.S. pay TV market as an example. After reaching a peak of 101 million paying users in 2011, it has declined year by year. At present, Netflix has about 67 million users in the United States, which means that more than half of potential users have already paid for Netflix. Just in the first quarter of 2021, Netflix added only 4 million new subscribers, lower than the expected 6 million, and Netflix's stock price fell 11%.</p><p>A poor quarter of performance isn't a serious problem for Netflix, the real bone-breaking thing-Netflix's market share may be being eroded by competitors.</p><p>In order to cope with the revenue pressure brought about by the slowdown in user growth, Netflix's membership fee has increased five times. The most recent one occurred in October 2020, when the basic package remained unchanged at $8.99, and the standard and basic packages increased by $1 and $2 to $13.99 and $17.99.</p><p>This price is not much different from Netflix's main competitors for more than a decade, HBO NOW ($14.99 for ad-free version) and HULU ($11.99 for ad-free version), but it is not much different from Disney,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Compared with these ambitious new generation of entrants, there is no advantage. Disney + costs just $7.99 a month, and Apple TV + costs even less at just $4.99.</p><p>The past year has almost been the Warring States Period of global streaming media, with giants Disney, Apple, and Paramount entering the market one after another.</p><p>When asked at an earnings analysis conference in the first quarter of this year how he viewed the current competition, Reed Hastings, the founder of Netflix, responded this way: Obviously, there is always new competition. But when we look at the past data, the company has been growing because we are also confident.</p><p>The confidence of the founders is one aspect, but the giants' encroachment on Netflix is also real. In 2020, Netflix's market share of original programming fell to 50% from 56% at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/e3168aceb52ba01af09cfda9ca74654a\" tg-width=\"1080\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Global Original Programming Market Share. Data Source : Parrot Analytics. Image Source:<a href=\"https://laohu8.com/S/NYT\">The New York Times</a></p><p>Behind this is the loss of content from Netflix. Because of the launch of Disney +, Netflix removed a series of Disney IP content. HBO, on the other hand, also got back the copyrights of Friends, The Big Bang Theory, Studio Ghibli and other works. Similarly, the old sitcom \"The Office\" was taken back by NBC.</p><p>Among the viewing time of subscribers, Netflix's self-produced dramas only account for 30% of the total, and the rest come from external copyrights. According to the data of \"China Business News\" magazine, the top three works on Netflix in 2018 were \"The Office\", \"Friends\" and \"Grey's Anatomy.\" New content may be the key to driving user growth, but for old audiences, they are more inclined to choose works they are familiar with.</p><p>Netflix, which has been making efforts in original content, has withdrawn most of its production plans due to the epidemic. Currently, Netflix doesn't have any big return series.</p><p>Netflix's model is more or less like a one-shot deal. After the user watches the episode, he will no longer have contact with the show. Netflix's Stranger Things \"House of Cards\" has a large number of diehard fans, but a single subscription payment model cannot fully tap the value of these IPs. This leads to a strange phenomenon: on the one hand, there are fans holding banknotes and screaming Shut up and take my money, and on the other hand, there are indifferent officials.</p><p><img src=\"https://static.tigerbbs.com/e8ff18c69d2bd4df4d5c3788a0149e63\" tg-width=\"399\" tg-height=\"380\" referrerpolicy=\"no-referrer\">Credit: memegenetator</p><p>Last year, Netflix's self-produced documentary \"Tiger King\" was watched by 34.3 million people within 10 days of its launch, making it Netflix's most successful series. A large number of \"Tiger King\" peripherals immediately appeared on the e-commerce brand Esty. But except for all, they are all copycats.</p><p>Searching for Tiger King on Esty still yields 8195 results. Credit: Esty</p><p>It's not difficult to understand why Netflix wants to launch an online mall. In the official Netflix blog, Josh Simon, head of Netflix Shop and vice president of consumer goods division, wrote:<b>We love seeing good stories go beyond the screen and become part of people's lives.</b>」「<b>We are constantly thinking about how we can expand our story world for fans, from costumes and toys to immersive events and games.</b>That's why today we're launching Netflix.shop as an exciting new destination that combines carefully curated products and rich stories in a unique Netflix shopping experience.</p><p>There's one thing reading between the lines:<b>We want to be Disney!</b></p><p><b>Disney Magic</b></p><p>In 1929, a man went to a hotel to find Walter Disney, offered $300 and asked for the image of Mickey Mouse to be printed on a writing table. The $300 became Disney's first franchise revenue. Nearly a hundred years later, this $300 became a big business of $54.7 billion.</p><p>Open Disney's IP list, and you will find that this is almost an endless list. In addition to its own original IPs, such as Mickey Mouse, * the Bear, Disney Princess, Lion King, etc., Disney also frantically acquired Pixar, Marvel Comics, Lucasfilm, and 20th Century Fox in the first 20 years of the 21st century. In other words, except Mickey Mouse, all the IPs you are familiar with such as Avengers, Star Wars, Avatar and Toy Story belong to Disney.</p><p>Family portraits of Disney's IP characters. Image credit: psu.edu</p><p>According to TitleMax data in 2019, 8 of the 20 most profitable IPs in the world are from Disney, with a cumulative economic value of US $355.182 billion. Among them, * the Bear, Mickey Mouse and Star Wars ranked 3rd, 4th and 5th respectively. These old IPs, which have been more than 40 years or even nearly a hundred years old, still explode with amazing vitality.</p><p><img src=\"https://static.tigerbbs.com/e949ad901d47454456f46fa01087221f\" tg-width=\"1080\" tg-height=\"3408\" referrerpolicy=\"no-referrer\">The remaining TOP 20 Disney IPs are Disney Princess at No. 7, Marvel Universe at No. 11, Spider-Man at No. 12, Cars at No. 18 and Toy Story at No. 19. Credit: TITLEMAX</p><p>In Hollywood, there is a famous locomotive theory:<b>The movie itself may not make money, but it must drive the development of related products</b>。 Walt Disney clearly knows this well. As early as 1957, he drew a sketch that clearly described Disney's business model.</p><p><img src=\"https://static.tigerbbs.com/4c6a77415a665f0ec24a5f0dc2a0a794\" tg-width=\"596\" tg-height=\"529\" referrerpolicy=\"no-referrer\">The Disney business model painted by Walt Disney. Credit: kottke.org</p><p>In this sketch, the film studio is in a clear central position, surrounded by music, television, licensed merchandise, theme parks and publications. Take magazines, for example, movies provide articles for magazines, and magazines can promote movies and Disneyland. Each piece is closely connected, cooperating with each other and complement each other.</p><p>To this day, Disney still hasn't broken away from the underlying logic of this model. Disney never regards the animated images created as disposable consumer goods, but digs deeply as a gold mine that can be consumed for a long time. When Disney makes a movie, the company doesn't just think about the movie itself, but how to transform the story into goods, services, experiences and other derivative products. As former Disney CFO Jay Rasulo said: Every aspect of the company is brand-oriented and franchise-oriented.</p><p>Today, Disney's model is called<b>Round revenue</b>。</p><p>First of all, Disney will launch movies with IP stories as the core at a high cost, and earn the first round of revenue through the box office.</p><p>Then, Disney will sell the film rights to streaming platforms to earn a second round of revenue</p><p>At the same time, every time Disney launches a new movie, it will add corresponding new characters to the theme park, and earn the third round of revenue through Disneyland.</p><p>Finally, earn a fourth round of revenue through franchising, publishing, retail, etc.</p><p>Through these four rounds of revenue, Disney clearly squeezed out the profits of every IP. These various profit channels give Disney a key advantage over Netflix and continue the vitality of its IP.</p><p><b>Build love for stories and turn love into money</b></p><p>Unlike Disney, Netflix has no plans to build offline stores. Currently, Netflix has cooperated with Target,<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, H&M, Sephora and other retailers have signed licensing agreements for hundreds of peripheral products.</p><p>Netflix has also developed an online mall system together with e-commerce platform Shopify. Previously, Shopify has provided technical support for Allbirds, Kith, The New York Times, and Kim Kardashian's brand Skims.</p><p>Simon, the project leader of Netflix Shop, once stayed at Disney Studios for six years as the production and development director.</p><p>All these messages seem to indicate Netflix's determination: Hey! We are not playing tickets, we are serious!</p><p>For years, Netflix has shied away from being an entertainment company or a tech company. Just recently, Hastings, the founder of Netflix, declared: We are really an entertainment company.</p><p>According to Matthew Ball, a former Amazon Studio executive,<b>Essentially, an entertainment company does only three things:</b></p><p><ol><li><b>Create/tell a story</b></p><p></li><li><b>Build love for these stories</b></p><p></li><li><b>Turn love into money</b></p><p></li></ol>By that standard, Disney is easily the best company on the planet. Think about it, how many little girls want to wear Elsa's long blue dress while visiting Disneyland? How many parents will pay for it?</p><p>Netflix has done a good enough job of telling stories and building love, but can it turn love into money?</p><p>Mark A Cohen, director of retail research at Columbia Business School, expressed doubts: Most of them (Netflix's hits) have short shelf lives, unlike Disney's IPs, which are a long journey of a generation.</p><p>Despite a lot of uncertainty, this is undoubtedly Netflix's best year financially. The company has borrowed a total of $16 billion in the past 10 years. Late last year, Netflix said in its fourth-quarter earnings report that it no longer needed to seek borrowings to fund the company. In other words, Netflix has become a truly profitable company.</p><p>And its other streaming competitors are still losing money, including Disney.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw\">极客公园</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e2224e6b43e75f835dbd8bb6d8c4972c","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","DIS":"迪士尼","NFLX":"奈飞"},"source_url":"https://mp.weixin.qq.com/s/m--XabEJEHyLq5PY_bXcWw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138372330","content_text":"面对大举反攻的影视巨头，Netflix 虽然已经开始赚钱，但这远远不够。\nNetflix 开始学习迪士尼了。\n就在爱优腾还在和短视频行业较劲的当口，早已盈利的 Netflix 推出了 Netflix Shop，首次进入了电商领域。\nNetflix Shop 目前在售的商品数量还很有限，不过 18 种。其中有高达 135 美元的机器人闹钟，也有 30 美元的 T 恤，但主要还是价位在 30 至 80 美元的服饰。未来，Netflix 还会推出《怪奇物语》《猎魔人》等系列商品。\n这些商品的共同点在于——它们都是 Netflix 旗下 IP 的周边产品。\n这很难让人不联想到 IP 授权市场里的那个顶级玩家——迪士尼。根据国际授权业协会（LIMA）数据显示，2019 年全球授权商品的销售额为了 2928 亿美元。第一名迪士尼就占了 547 亿美元，这个数字，是 Netflix 2020 全年收入的两倍。\n显然，Netflix 瞄准了 IP 授权的蛋糕。这背后，是 Netflix 的隐忧，和野心。\nNetflix 的隐忧\n2020 年几乎是 Netflix 诞生以来最好的一年。因为疫情宅家的原因，许多人的娱乐活动都转向了线上。Netflix 也因此增长了 3700 万付费用户，打破了该公司的增长纪录，总付费用户数也历史性地突破 2 亿。相应的，全年利润增长了 76%。\n这家创立时做 DVD 租赁生意的公司，在电视黄金时代的末尾，及时转向了流媒体业务。此后年年实现了付费用户两位数以上的增长。\n作为一家市值 2300 亿美元的公司，Netflix 的商业模式却极其简单——生产优质内容，吸引消费者付费订阅。2019 年，Netflix 98.52% 的收入都来自会员费。类比国内的长视频平台爱奇艺，会员费仅占其总营收的约 50%，其它的收入主要来自在线广告和内容分发。可以说，Netflix 营收的增长完全取决于用户的增长。这句话的另一面是，一旦付费用户无法持续增长，Netflix 的商业模式就会迎来危机。\n作为流媒体平台的先驱和用户数量最庞大的 Netflix，可能更早撞上用户天花板。流媒体平台本质上是抢夺了付费电视的用户。以美国付费电视市场为例，在 2011 年付费用户达到 1.01 亿的顶峰后就逐年下滑。目前 Netflix 的美国用户约为 6700 万，也就是说，超过半数的潜在用户已经为 Netflix 买了单。就在 2021 年第一季度，Netflix 新增用户仅为 400 万，低于预期的 600 万，Netflix 的股价应声下跌了 11%。\n一个季度的糟糕表现对 Netflix 来说并不是什么严重的问题，真正伤筋动骨的是——Netflix 的市场份额可能正在被竞争对手蚕食。\n为了应对用户增长放缓带来的营收压力，Netflix 的会员费先后上涨过 5 次。最近的一次发生在 2020 年 10 月份, 基础套餐维持在 8.99 美元不变，标准和基础套餐别上涨了 1 美元和 2 美元，至 13.99 美元和 17.99 美元。\n这个价格与 Netflix 过于十几年来的主要竞争对手 HBO NOW（无广告版 14.99 美元）、HULU（无广告版 11.99 美元）差别不大，但是和迪士尼、苹果这些野心勃勃的新一代入场者相比，就没有什么优势了。迪士尼+的月费仅为 7.99 美元，苹果 TV+的费用甚至更低，仅为 4.99 美元。\n过去一年几乎是全球流媒体的战国时代，巨头迪士尼、苹果、派拉蒙相继入场。\n在今年一季度的财报分析会议上，当被问及如何看待当下的竞争时，Netflix 的创始人里德·黑斯廷斯（Reed Hastings）是这么回应的：「很明显，新的竞争一直存在。但是当我们翻看过往的数据，公司一直在保持增长，因为我们也很有信心。」\n创始人的信心是一方面，但巨头们对 Netflix 的蚕食也是实实在在。2020 年，Netflix 原创节目的市场份额从年初的 56% 跌至了 50%。\n全球原创节目市场份额。数据来源：Parrot Analytics。图片来源：纽约时报\n这背后，是 Netflix 的内容流失。因为迪士尼+的上线，Netflix 下架了一系列迪士尼 IP 内容。而 HBO，也拿回了《老友记》《生活大爆炸》、吉卜力工作室等作品的版权。同样的，老牌情景喜剧《办公室》也被 NBC 收回旗下。\n在订阅用户的观看时长中，Netflix 自制剧仅占总数的 30%，其它都来自外部版权。根据《第一财经》杂志的数据，2018 年 Netflix 播放时长前三的作品正是《办公室》《老友记》和《实习医生格蕾》。新内容可能是拉动用户增长的关键，但是对于老观众来说，他们更倾向于选择自己熟悉的作品。\n一直在原创内容发力的 Netflix，因为疫情的缘故，撤回了大部分制作计划。目前，Netflix 还没有任何大型的回归系列。\nNetflix 的模式多少像是一锤子买卖。用户观看完剧集后，就和这部剧不再发生联系。Netflix 旗下的《怪奇物语》《纸牌屋》有大批的死忠粉丝，但单一的订阅付费模式并不能完全挖掘这些 IP 的价值。这就出现了一种奇怪的现象：一边是手握钞票嗷嗷叫着「Shut up and take my money」的粉丝，一边是「无动于衷」的官方。\n图片来源：memegenetator\n去年 Netflix 自制纪录片《虎王》上线 10 天就有 3430 万人观看，是 Netflix 最成功的剧集。在电商品牌 Esty 上立刻出现了大量《虎王》周边。但无一列外，它们都是山寨的。\n在 Esty 上搜索「虎王」，仍有 8195 条结果。图片来源：Esty\n这就不难理解为什么 Netflix 要推出线上商城。在 Netflix 官方博客中，Netflix Shop 的负责人、消费品部门副总裁约什·西蒙（Josh Simon）如此写道：「我们喜欢看到好故事超越屏幕，成为人们生活的一部分。」「我们一直在考虑如何为粉丝们拓展我们的故事世界，从服装和玩具到身临其境的事件和游戏。这也是为什么今天我们推出 Netflix.shop，将其作为一个令人兴奋的新目的地，将精心策划的产品和丰富的故事结合在一个独特的 Netflix 购物体验中。」\n这字里行间都在说一件事：我们想要成为迪士尼！\n迪士尼魔法\n1929 年，有一个人到旅馆找到沃尔特·迪士尼（Walter Disney），拿出 300 美元，要求把米老鼠的形象印在写字桌上。这 300 美元成了迪士尼的第一笔「特许经营」收入。近百年后，这 300 美元成了 547 亿美元的大生意。\n翻开迪士尼的 IP 清单，你会发现这几乎是一本长不见底的名录。除了自有的原创 IP，如米老鼠、小熊维尼、迪士尼公主、狮子王等，迪士尼在 21 世纪的头 20 年还疯狂收购了皮克斯、漫威、卢卡斯影业、二十世纪福克斯。也就是说，除了米老鼠，你所熟悉的复仇者联盟、星球大战、阿凡达、玩具总动员这些 IP 全部都属于迪士尼。\n迪士尼旗下 IP 人物全家福。图片来源：psu.edu\n根据 TitleMax 2019 年的数据，全球最赚钱的 20 个 IP 中有 8 个来自迪士尼，累计经济价值达 3551.82 亿美元。其中小熊维尼、米老鼠、星球大战分别位列第 3、4、5 位。这些超过了 40 年甚至近百年的老 IP，依旧爆发出了惊人的生命力。\n其余 TOP 20 的迪士尼 IP 分别是第 7 位的迪士尼公主、11 位的漫威宇宙、12 位的蜘蛛侠、18 位的赛车总动员和 19 位的玩具总动员。图片来源：TITLEMAX\n在好莱坞，有一个著名的火车头理论：电影本身可以不赚钱，但它必须带动相关产品的发展。沃尔特·迪士尼显然深谙此道。早在 1957 年，他就画下了一张草图，清晰描述了迪士尼的商业模式。\n沃尔特·迪士尼画下的迪士尼商业模式。图片来源：kottke.org\n在这张草图中，电影制片厂处在了明确的中心位置，音乐、电视、授权商品、主题乐园和出版物都环绕在四周。拿杂志来说，电影为杂志提供了文章内容，杂志则可以宣传电影和迪士尼乐园。每一部分都紧密联系在一起，相互配合，相互补充。\n时至今日，迪士尼公司依旧没有脱离这套模式的底层逻辑。迪士尼从不把创作出的动画形象看成一次性消费品，而是作为一个可长久消费的金矿去深度挖掘。当迪士尼制作一部电影时，公司不仅仅是考虑电影本身，而如何将故事转化为商品、服务、体验和其它衍生产品。正如迪士尼前首席财务官杰·拉苏洛（Jay Rasulo）所说：「公司的每个方面都是面向品牌和特许经营的。」\n在今天，迪士尼的这种模式被叫做轮次收入。\n首先，迪士尼会以高成本推出以 IP 故事为核心的电影，通过票房赚取第一轮收入。\n然后，迪士尼会把影片版权卖给流媒体平台，赚取第二轮收入\n同时，迪士尼每推出一部新电影就会在主题乐园中增加相应的新人物，通过迪士尼乐园赚取第三轮收入。\n最后，通过特许经营、出版、零售等方式赚取第四轮收入。\n通过这四轮收入，迪士尼明明白白地「榨干」了每一个 IP 的利润。这些多种多样的盈利渠道使迪士尼比 Netflix 拥有了关键的优势，更加延续了旗下 IP 的生命力。\n为故事建立爱，把爱变成钱\n与迪士尼不同，Netflix 并没有建立线下门店的计划。目前，Netflix 已经和 Target、沃尔玛、亚马逊、H&M、丝芙兰等零售商签订了数百种周边产品的许可协议。\nNetflix 还和电商平台 Shopify 一起开发了线上商城系统。此前，Shopify 已经为 Allbirds、Kith、《纽约时报》和金·卡戴珊（Kim Kardashian）的品牌 Skims 提供过技术支持。\n而 Netflix Shop 的项目负责人西蒙，就曾经在迪士尼工作室呆过六年，担任制作和开发总监。\n这些信息似乎都在表明 Netflix 的决心：「嘿！我们可不是在玩票，我们是认真的！」\n多年来，Netflix 一直回避自己是一家娱乐公司还是科技公司。就在最近，Netflix 创始人黑斯廷斯宣称：「我们真的是一家娱乐公司。」\n按照亚马逊工作室（Amazon Studio）前高管马修·鲍尔（Matthew Ball）的说法，从本质上讲，一家娱乐公司只做三件事：\n\n创造/讲述故事\n为这些故事建立爱\n把爱变成钱\n\n按照这个标准来说，迪士尼无疑是这个星球上做得最好的公司。想想看，有多少小女孩想在逛迪士尼乐园的时候穿上爱莎的蓝色长裙？又有多少家长会为此买单？\n在讲故事和建立爱上，Netflix 已经做得足够好了，但它能把爱变成钱吗？\n哥伦比亚商学院的零售研究主任马克·A·科恩（Mark A Cohen）就表示了怀疑：「它们（Netflix 的热播剧）大多数的保质期都很短，不像迪士尼的 IP，那是一代人的漫长旅程。」\n尽管有非常多的不确定性，但当下无疑是 Netflix 财务状况最好的一年。这家公司在过去 10 年总共借款达 160 亿美元。去年年底，Netflix 在第四季度财报上表示，它不再需要寻求借款来为公司提供资金。换句话说，Netflix 成为了一家真正盈利的公司。\n而它的其它流媒体竞争对手，都还在亏着钱，包括迪士尼。","news_type":1,"symbols_score_info":{"NFLX":0.9,"QNETCN":0.9,"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":2358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274464,"gmtCreate":1624972925358,"gmtModify":1703849126697,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274464","repostId":"1118894802","repostType":4,"repost":{"id":"1118894802","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624955420,"share":"https://ttm.financial/m/news/1118894802?lang=en_US&edition=fundamental","pubTime":"2021-06-29 16:30","market":"hk","language":"zh","title":"Market Summary: The throne of \"First Brother\" in Shenzhen Stock Exchange changes hands! Haidilao \"boils\" against the trend","url":"https://stock-news.laohu8.com/highlight/detail?id=1118894802","media":"老虎资讯综合","summary":"港股\n港股三大指数全日呈单边下跌行情，市场整体情绪表现平淡。截至收盘，恒指跌0.94%报28994点，国指跌0.98%报10757点，恒生科技指数跌0.91%报8201点。\n\n盘面上，石油板块跌幅居前","content":"<p><b>Hong Kong Stocks</b></p><p>The three major Hong Kong stock indexes showed a unilateral decline throughout the day, and the overall market sentiment was dull. As of the close, the Hang Seng Index fell 0.94% to 28,994 points, the State Index fell 0.98% to 10,757 points, and the Hang Seng Technology Index fell 0.91% to 8201 points.</p><p><img src=\"https://static.tigerbbs.com/c7f0b8ac73315eee841216419d34c674\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>On the disk, the oil sector was among the top losers, and all three barrels of oil fell sharply, dragging the market down; Recently, strong biomedical stocks and port shipping stocks have pulled back across the board, financial stocks (insurance, securities firms, banks) have performed sluggishly, and energy stocks such as home appliance stocks, aviation stocks, medical beauty stocks, gas stocks, defense stocks, gambling stocks, and coal generally fell; Big tech stocks were mixed,<a href=\"https://laohu8.com/S/09999\">NetEase-S</a>Bucking the trend, it rose 3.6%,<a href=\"https://laohu8.com/S/09618\">Jingdong Group-SW</a>、<a href=\"https://laohu8.com/S/09888\">Baidu Group-SW</a>Closed up,<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/09988\">Alibaba-SW</a>、<a href=\"https://laohu8.com/S/03690\">Meituan-W</a>All fell; Catering stocks rebounded sharply,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Rose nearly 9%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Up 4.5%; Photovoltaic stocks are strong, property management stocks continue to rise,<a href=\"https://laohu8.com/S/00873\">Shimao Services</a>Waiting for many stocks to continue to hit new high prices. The market turnover was 146.1 billion Hong Kong dollars, and the net inflow of southbound funds bucked the trend and was 963 million Hong Kong dollars.</p><p><b>A Shares</b></p><p>The three major indexes pulled back. The Shanghai Composite Index consolidated weakly above the 30-day line, closing down 0.92% to 3,573 points throughout the day, the Shenzhen Component Index fell 0.99% to 14,999 points, and the ChiNext Index fell 0.19% to 3,406 points. More than 3,100 stocks in the two cities fell, and the market sentiment and profit-making effect dropped significantly. The turnover returned to below the trillion once again after seven trading days, reaching 997.4 billion, and the net sales of northbound funds throughout the day were 3.14 billion.</p><p><img src=\"https://static.tigerbbs.com/55bf301fcd48fb59b0f70e721046a291\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The performance of theme concepts is sluggish, and concept stocks such as military industry, finance, liquor, chips, and 5G generally fall; Most funds flow to photovoltaic concepts,<a href=\"https://laohu8.com/S/300118\">Sunrise Oriental</a>Wait for the daily limit of ten stocks,<a href=\"https://laohu8.com/S/601012\">LONGi shares</a>Rose more than 3%; The concept of silicone is strong throughout the day,<a href=\"https://laohu8.com/S/603260\">Hesheng Silicon Industry</a>The daily limit hit a new high; Concepts such as HIT batteries, lithium extraction from salt lakes, babies and children, and online travel were active, and most textile and apparel stocks rose.</p><p><a href=\"https://laohu8.com/S/300750\">Ningde era</a>The stock price hit a record high again. As of the close, it rose nearly 3%. The latest market value was 1,184.3 billion yuan, surpassing<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>Become the \"first brother\" of Shenzhen Stock Exchange.</p><p><img src=\"https://static.tigerbbs.com/93d3ce21ca8d59215a3c2e1be2a9f337\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>US stocks</b></p><p>The three major U.S. stock index futures were mixed. As of press time, Dow futures rose 0.17%; Nasdaq 100 futures fell 0.24%; S&P 500 futures fell 0.02%.</p><p><img src=\"https://static.tigerbbs.com/83895d64ec668d72dcb5edf73dbeff5d\" tg-width=\"478\" tg-height=\"182\" referrerpolicy=\"no-referrer\"></p><p>Morgan Stanley rose more than 2% before the market. Morgan Stanley doubled its quarterly Dividend to 70 cents and will repurchase up to $12 billion in shares.</p><p><img src=\"https://static.tigerbbs.com/72c436e1b865ee4e1d224f056bfd31ee\" tg-width=\"1302\" tg-height=\"833\"></p><p><b>European stocks</b></p><p>Major European indexes rose across the board. As of press time, the German DAX index rose 0.57%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.33%, the French CAC40 index rose 0.35%, and the European Stoxx 50 index rose 0.37%.</p><p><img src=\"https://static.tigerbbs.com/2b257919c3a4379a1b3848f144a0a925\" tg-width=\"820\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><b>crude oil</b></p><p>International oil prices fell slightly. As of press time, WTI crude oil was at US $72.79/barrel, down 0.16%; Brent oil is now trading at $74.55 a barrel, down 0.17%.</p><p>International oil prices have been dragged down by concerns about slowing fuel demand growth, as a new outbreak of the highly contagious new coronavirus variant Delta has triggered new movement restrictions around the world. However, U.S. shale oil producers still stick to the commitment pointed out to suspend the expansion, which is different from what they did during previous waves of boom cycles and is good for the oil market.</p><p><img src=\"https://static.tigerbbs.com/2317c0df6a343fd5277e3356ad5ee5b4\" tg-width=\"822\" tg-height=\"833\"><img src=\"https://static.tigerbbs.com/e4c741ddb202c84a0df34706caf5f957\" tg-width=\"822\" tg-height=\"833\"></p><p><b>Gold</b></p><p>International gold fell slightly, falling 0.72% on the day to $1,767.8 per ounce.</p><p>International gold prices continued to fluctuate sideways within a narrow range for more than a week, and investors' concerns that the Federal Reserve would tighten monetary policy earlier than expected weakened the attractiveness of gold. Technically, the price of gold is still bearish, with the lower support looking at $1,748. However, the US Dollar Index has hovered below the 92 integer mark in the past week, limiting the downside of gold.</p><p><img src=\"https://static.tigerbbs.com/7e5ed09a2cb81ab881444e6e45deed9d\" tg-width=\"822\" tg-height=\"833\"></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>Market Summary: The throne of \"First Brother\" in Shenzhen Stock Exchange changes hands! Haidilao \"boils\" against the trend</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\">\nMarket Summary: The throne of \"First Brother\" in Shenzhen Stock Exchange changes hands! Haidilao \"boils\" against the trend\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-29 16:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Hong Kong Stocks</b></p><p>The three major Hong Kong stock indexes showed a unilateral decline throughout the day, and the overall market sentiment was dull. As of the close, the Hang Seng Index fell 0.94% to 28,994 points, the State Index fell 0.98% to 10,757 points, and the Hang Seng Technology Index fell 0.91% to 8201 points.</p><p><img src=\"https://static.tigerbbs.com/c7f0b8ac73315eee841216419d34c674\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>On the disk, the oil sector was among the top losers, and all three barrels of oil fell sharply, dragging the market down; Recently, strong biomedical stocks and port shipping stocks have pulled back across the board, financial stocks (insurance, securities firms, banks) have performed sluggishly, and energy stocks such as home appliance stocks, aviation stocks, medical beauty stocks, gas stocks, defense stocks, gambling stocks, and coal generally fell; Big tech stocks were mixed,<a href=\"https://laohu8.com/S/09999\">NetEase-S</a>Bucking the trend, it rose 3.6%,<a href=\"https://laohu8.com/S/09618\">Jingdong Group-SW</a>、<a href=\"https://laohu8.com/S/09888\">Baidu Group-SW</a>Closed up,<a href=\"https://laohu8.com/S/00700\">Tencent</a>、<a href=\"https://laohu8.com/S/09988\">Alibaba-SW</a>、<a href=\"https://laohu8.com/S/03690\">Meituan-W</a>All fell; Catering stocks rebounded sharply,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Rose nearly 9%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Up 4.5%; Photovoltaic stocks are strong, property management stocks continue to rise,<a href=\"https://laohu8.com/S/00873\">Shimao Services</a>Waiting for many stocks to continue to hit new high prices. The market turnover was 146.1 billion Hong Kong dollars, and the net inflow of southbound funds bucked the trend and was 963 million Hong Kong dollars.</p><p><b>A Shares</b></p><p>The three major indexes pulled back. The Shanghai Composite Index consolidated weakly above the 30-day line, closing down 0.92% to 3,573 points throughout the day, the Shenzhen Component Index fell 0.99% to 14,999 points, and the ChiNext Index fell 0.19% to 3,406 points. More than 3,100 stocks in the two cities fell, and the market sentiment and profit-making effect dropped significantly. The turnover returned to below the trillion once again after seven trading days, reaching 997.4 billion, and the net sales of northbound funds throughout the day were 3.14 billion.</p><p><img src=\"https://static.tigerbbs.com/55bf301fcd48fb59b0f70e721046a291\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The performance of theme concepts is sluggish, and concept stocks such as military industry, finance, liquor, chips, and 5G generally fall; Most funds flow to photovoltaic concepts,<a href=\"https://laohu8.com/S/300118\">Sunrise Oriental</a>Wait for the daily limit of ten stocks,<a href=\"https://laohu8.com/S/601012\">LONGi shares</a>Rose more than 3%; The concept of silicone is strong throughout the day,<a href=\"https://laohu8.com/S/603260\">Hesheng Silicon Industry</a>The daily limit hit a new high; Concepts such as HIT batteries, lithium extraction from salt lakes, babies and children, and online travel were active, and most textile and apparel stocks rose.</p><p><a href=\"https://laohu8.com/S/300750\">Ningde era</a>The stock price hit a record high again. As of the close, it rose nearly 3%. The latest market value was 1,184.3 billion yuan, surpassing<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>Become the \"first brother\" of Shenzhen Stock Exchange.</p><p><img src=\"https://static.tigerbbs.com/93d3ce21ca8d59215a3c2e1be2a9f337\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><b>US stocks</b></p><p>The three major U.S. stock index futures were mixed. As of press time, Dow futures rose 0.17%; Nasdaq 100 futures fell 0.24%; S&P 500 futures fell 0.02%.</p><p><img src=\"https://static.tigerbbs.com/83895d64ec668d72dcb5edf73dbeff5d\" tg-width=\"478\" tg-height=\"182\" referrerpolicy=\"no-referrer\"></p><p>Morgan Stanley rose more than 2% before the market. Morgan Stanley doubled its quarterly Dividend to 70 cents and will repurchase up to $12 billion in shares.</p><p><img src=\"https://static.tigerbbs.com/72c436e1b865ee4e1d224f056bfd31ee\" tg-width=\"1302\" tg-height=\"833\"></p><p><b>European stocks</b></p><p>Major European indexes rose across the board. As of press time, the German DAX index rose 0.57%.<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index rose 0.33%, the French CAC40 index rose 0.35%, and the European Stoxx 50 index rose 0.37%.</p><p><img src=\"https://static.tigerbbs.com/2b257919c3a4379a1b3848f144a0a925\" tg-width=\"820\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><b>crude oil</b></p><p>International oil prices fell slightly. As of press time, WTI crude oil was at US $72.79/barrel, down 0.16%; Brent oil is now trading at $74.55 a barrel, down 0.17%.</p><p>International oil prices have been dragged down by concerns about slowing fuel demand growth, as a new outbreak of the highly contagious new coronavirus variant Delta has triggered new movement restrictions around the world. However, U.S. shale oil producers still stick to the commitment pointed out to suspend the expansion, which is different from what they did during previous waves of boom cycles and is good for the oil market.</p><p><img src=\"https://static.tigerbbs.com/2317c0df6a343fd5277e3356ad5ee5b4\" tg-width=\"822\" tg-height=\"833\"><img src=\"https://static.tigerbbs.com/e4c741ddb202c84a0df34706caf5f957\" tg-width=\"822\" tg-height=\"833\"></p><p><b>Gold</b></p><p>International gold fell slightly, falling 0.72% on the day to $1,767.8 per ounce.</p><p>International gold prices continued to fluctuate sideways within a narrow range for more than a week, and investors' concerns that the Federal Reserve would tighten monetary policy earlier than expected weakened the attractiveness of gold. Technically, the price of gold is still bearish, with the lower support looking at $1,748. However, the US Dollar Index has hovered below the 92 integer mark in the past week, limiting the downside of gold.</p><p><img src=\"https://static.tigerbbs.com/7e5ed09a2cb81ab881444e6e45deed9d\" tg-width=\"822\" tg-height=\"833\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"300750":"宁德时代","399001":"深证成指","399006":"创业板指","HSTECH":"恒生科技指数","06862":"海底捞",".SPX":"S&P 500 Index","HSCEI":"国企指数","000001.SH":"上证指数",".DJI":"道琼斯","HSI":"恒生指数","HSCCI":"红筹指数",".IXIC":"NASDAQ Composite"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118894802","content_text":"港股\n港股三大指数全日呈单边下跌行情，市场整体情绪表现平淡。截至收盘，恒指跌0.94%报28994点，国指跌0.98%报10757点，恒生科技指数跌0.91%报8201点。\n\n盘面上，石油板块跌幅居前，三桶油皆重挫拖累大市走低；近期强势的生物医药股、港口航运股全线回调，金融股(保险、券商、银行)表现低迷，家电股、航空股、医美股、燃气股、军工股、濠赌股、煤炭等能源股普遍下跌；大型科技股涨跌不一，网易-S逆势大涨3.6%，京东集团-SW、百度集团-SW收涨，腾讯、阿里巴巴-SW、美团-W均下跌；餐饮股大幅反弹，海底捞大涨近9%，呷哺呷哺涨4.5%；光伏股强势，物管股继续上扬，世茂服务等多股续创新高价。大市成交额为1461亿港元，南下资金逆势净流入9.63亿港元。\nA股\n三大指数回调，沪指在30日线上方弱势整理，全天收跌0.92%报3573点，深成指跌0.99%报14999点，创业板指跌0.19%报3406点。两市3100余股下跌，市场情绪及赚钱效应明显回落，成交额时隔七个交易日再次回至万亿下方，为9974亿，北上资金全天净卖出31.4亿。\n\n题材概念表现低迷，军工、金融、白酒、芯片、5G等概念股普遍下跌；资金多数流向光伏概念，东方日升等十股涨停，隆基股份涨逾3%；有机硅概念全天强势，合盛硅业涨停创新高；HIT电池、盐湖提锂、婴童、在线旅游等概念活跃，纺织服饰股多数上涨。\n宁德时代股价再创历史新高，截至收盘，涨近3%，最新市值11843亿元，超越五粮液成为深市“一哥”。\n\n美股\n美国三大股指期货涨跌不一，截至发稿，道指期货涨0.17%；纳斯达克100指数期货跌0.24%；标普500指数期货跌0.02%。\n\n摩根士丹利盘前涨超2%，摩根士丹利将季度股息翻倍至70美分，将回购最高120亿美元股票。\n\n欧股\n欧洲主要指数全线上涨，截止发稿，德国DAX指数涨0.57%，英国富时100指数涨0.33%，法国CAC40指数涨0.35%，欧洲斯托克50指数涨0.37%。\n\n原油\n国际油价小幅下跌，截止发稿，WTI原油报72.79美元/桶，跌0.16%；布油现报74.55美元/桶，跌0.17%。\n国际油价受到对燃料需求增长放缓的担忧拖累，因为高传染性新冠变种病毒Delta的新疫情在全球引发了新的行动限制。不过美国页岩油生产商仍坚守暂停扩大指出的承诺，有异于先前几波景气循环荣景时的做法，对油市构成利好。\n\n黄金\n国际黄金小幅走低，日内跌0.72%，报1767.8美元/盎司。\n国际金价延续逾一周的横盘窄幅震荡态势，投资者对美联储将比预期更早收紧货币政策的担忧削弱了黄金的吸引力。技术上看金价仍看跌，下方支撑看向1748美元。但美元指数过去一周徘徊在92整数关口下方，限制了黄金下行空间。","news_type":1,"symbols_score_info":{"300750":0.9,"399001":0.9,"399006":0.9,".IXIC":0.9,"HSTECH":0.9,".SPX":0.9,"HSI":0.9,".DJI":0.9,"HSCCI":0.9,"06862":0.9,"000001.SH":0.9,"HSCEI":0.9}},"isVote":1,"tweetType":1,"viewCount":1988,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274834,"gmtCreate":1624972910628,"gmtModify":1703849125887,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"&nbsp;?","listText":"&nbsp;?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274834","repostId":"1188452851","repostType":4,"repost":{"id":"1188452851","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624960188,"share":"https://ttm.financial/m/news/1188452851?lang=en_US&edition=fundamental","pubTime":"2021-06-29 17:49","market":"sh","language":"zh","title":"61 daily limit, what kind of \"demon wind\" is the most bullish ST stock blowing?","url":"https://stock-news.laohu8.com/highlight/detail?id=1188452851","media":"华尔街见闻","summary":"如果问今年最妖的股是哪只，那一定非*ST众泰莫属。\n今年以来，*ST众泰在100多个交易日狂拉61个涨停，成为A股涨停王，股价也从年初的1.34元飙升至目前的7.5元，足足涨了460%，股价翻了5倍！","content":"<p>If you ask which stock is the most demonic this year, it must be<a href=\"https://laohu8.com/S/000980\">* ST Zotye</a>It's none other than.</p><p>Since the beginning of this year, * ST Zotye has pulled 61 daily limits in more than 100 trading days, becoming<b>A share daily limit king</b>, the stock price has also soared from 1.34 yuan at the beginning of the year to the current 7.5 yuan, a full increase of 460%, and the stock price has increased five times!</p><p>If calculated based on the highest increase, * ST Zotye's<b>The cumulative increase is as high as 628%, more than 6 times!</b></p><p><img src=\"https://static.tigerbbs.com/83019cb4d2e69da5e15ccb2c837e3f24\" tg-width=\"840\" tg-height=\"470\"></p><p>During this period, the company issued many announcements of stock price changes and suggestive announcements that the stock may be subject to delisting risk warnings. After three suspension verifications, it failed to prevent the stock price from \"riding the dust\".</p><p>According to<a href=\"https://laohu8.com/S/300033\">Straight flush</a>According to statistics, since January 11th as of June 24th, * ST Zotye has been on the dragon and tiger list of the exchange as many as 23 times, attracting a lot of hot money to participate in the speculation.</p><p>According to data from the Choice Dragon and Tiger List, as of June 24, * ST Zotye's top five sales departments with the largest purchase amount for three consecutive trading days are all known as \"retail investor base camps\"<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>Securities Lhasa Sales Department.</p><p><img src=\"https://static.tigerbbs.com/46071fe71f43e7f8af7638a92f29ea34\" tg-width=\"1080\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p>It is worth noting that<b>Due to continuous losses, * ST Zotye is at risk of being terminated from listing. After the tens of billions of losses that shocked the auto industry in 2019</b>, * ST Zotye 2020<b>Loss 10.801 billion yuan again</b>, as of the end of 2020, the company's net assets were-4.423 billion yuan. According to regulations, the company's audited net assets in 2020 are negative, and the company's stocks continue to be subject to a \"delisting risk warning\".</p><p><b>01. Reorganization expectations cause * ST Zotye to skyrocket</b></p><p>Throughout the hype history of * ST Zotye, it has always been inseparable from the \"restructuring expectation\".</p><p>On the evening of January 11 this year, * ST Zotye issued the \"Announcement on the Progress of Public Recruitment of Investors\", stating that on December 25 and December 28, 2020, the pre-reorganization manager signed the \"Confidentiality Agreement\" with an intended investor respectively, and signed the \"Confidentiality Agreement\" and the \"Intent Agreement\" with another intended investor.</p><p><b>Since then</b>，<b>* ST Zotye's share price began to \"rise endlessly\".</b></p><p>The two intended investors have paid the corresponding confidentiality deposit and intention deposit, and started to carry out specific due diligence after paying the deposit. As the saying goes, \"stock speculation is about expectations\", and the expectation of \"someone taking over and reorganizing\" has become the core driving force for * ST Zotye's continuous rise in the future.<img src=\"https://static.tigerbbs.com/d01c30a1357f4ca66327ea763408b69c\" tg-width=\"613\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>In this regard,<b>The market once rumored that investors might<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Millet,<a href=\"https://laohu8.com/S/NIO\">Nio</a>One of them and Baoneng, among which Baoneng was once \"hammered\" by official news.</b></p><p>But later, * ST Zotye emphasized that Tesla, Xiaomi, Nio and Baoneng are not investors in the company's pre-restructuring.</p><p>According to media understanding, official website, Shandong Linyi Municipal Bureau of Commerce, once announced that the cooperation project between Baoneng Automobile Group Co., Ltd., a subsidiary of Baoneng Group, and Linyi Zotye has entered the substantive negotiation stage.</p><p>However, Baoneng Automobile denied the above statement to many media, and then Linyi Municipal Bureau of Commerce also revoked the release.</p><p><b>02. Zhibo Investment terminated its investment company, and the first and second largest tradable shareholders both \"ran away\"</b></p><p>After pulling 61 daily limits wildly,<b>A major negative news is like a bolt from the blue, which may become the straw that crushed * ST Zotye's connected board.</b></p><p>On the evening of June 25, Zotye Automobile announced that according to the relevant agreement of the Confidentiality Agreement signed by the intended investor Zhibo Investment and the company in December 2020, Zhibo Investment decided to terminate its investment in the company.</p><p><img src=\"https://static.tigerbbs.com/5d029f53c2c47afc85afae9ea489f8f0\" tg-width=\"682\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the announcement also suggested that the company's stock may face the risk of termination of listing. If the company successfully implements the reorganization and completes the reorganization plan, it will help optimize the company's asset-liability structure and enhance the company's continuous operation and profitability. If the reorganization fails, the company will be declared bankrupt.</p><p>On Monday, June 28, * ST Zotye opened with a daily limit, with more than 480,000 orders closed, and the amount of orders closed exceeded 350 million yuan.</p><p><b>Some analysts have sorted out the dynamic timeline of * ST Zotye's intended investors. In fact, things can be traced back to December last year.</b></p><p>On December 25, 2020, * ST Zotye disclosed for the first time that Shanghai Zhiyang signed the Confidentiality Agreement and the Intention Agreement with the pre-reorganization manager, and paid the corresponding confidentiality deposit and intention deposit. On December 28, 2020, Hunan Zhibo signed a \"Confidentiality Agreement\" with the pre-reorganization manager and paid the corresponding confidentiality deposit.</p><p><img src=\"https://static.tigerbbs.com/f3948a0dfa5378ccb2f70cea501d90ce\" tg-width=\"656\" tg-height=\"276\" referrerpolicy=\"no-referrer\"></p><p><b>According to the announcement of * ST Zotye on April 7, the company currently has two intended investors</b>One is Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as \"Shanghai Zhiyang\"), and the other is Hunan Zhibo Equity Investment Fund Management Co., Ltd. (hereinafter referred to as \"Hunan Zhibo\"). According to Qichacha, both companies are private equity fund managers with registered capital of 50 million yuan and 10 million yuan respectively, and neither of them has any relevant background in the automobile industry chain.</p><p><b>However, in May, things took another turn</b>。 On the evening of May 12, * ST Zotye, which has entered the pre-restructuring stage, announced that the company received a letter from Shanghai Zhiyang Investment Co., Ltd. transferred by the company's pre-restructuring manager on May 12, 2021: \"Based on the company's evaluation of the due diligence results of Zotye Automobile Co., Ltd. (hereinafter referred to as Zotye Automobile) and the recent changes in Zotye Automobile's stock price, which seriously deviated from its fundamentals, the company decided to suspend the investment in Zotye Automobile due to investment prudence.\"</p><p><b>Now, Zhibo Investment has chosen to terminate its investment in Zotye Automobile, and Shanghai Zhiyang, another potential investor, has also announced the suspension of investment. There is great uncertainty about whether it will finally decide to restructure Zotye Automobile</b>。</p><p>It never rains poorly. In addition to institutions terminating their investments,<b>Even * ST Zotye's \"own family\" has played a big reduction</b>。</p><p>On May 24th and May 27th, * ST Zotye issued two pre-disclosure announcements respectively about shareholders holding more than 5% of the shares reducing their shares in the company. First of all, the shareholder Great Wall (Deyang) Changfu Investment Fund Partnership, which holds 7.03% of the shares, plans to reduce the company's shares through centralized bidding or block trading, and the total ratio of the company's total share capital will not exceed 2.03%; Secondly, Wuhan Tianfeng Zhixin Investment Center (Limited Partnership), a shareholder holding 5.84% of the shares, plans to use centralized bidding or block transactions<b>\"Clearance\" reduction</b>。</p><p>Wind data shows that the company's first quarterly report shows that Great Wall Changfu and Tianfeng Zhixin are the company's first and second largest tradable shareholders respectively.</p><p>Daily Economic News believes that,<b>The two major shareholders suddenly made such a move when the stock price was at a high level. In addition to obtaining profits, the loss of confidence in the future of * ST Zotye can also be clearly felt</b>。</p><p>Next, will * ST Zotye, which is \"all four empty\" and \"jittery\", fall to the limit several times in a row, or will it continue to be hyped by funds to hit a new high?</p><p><b>03. The core value lies in the license plate, but the \"copycat Porsche\" cannot be tolerated</b></p><p>For * ST Zotye's connected board,<b>The entry of new car-making forces may be one of the catalysts</b>。</p><p>Recently, giants such as Xiaomi, Huawei, and Didi have successively launched car-making plans, and the qualification for new forces to build cars is a car-making qualification.<b>But so far, the National Development and Reform Commission has stopped issuing new energy vehicle production qualifications</b>。</p><p><b>Zotye has the production qualifications for new energy passenger vehicles and commercial vehicles</b>。 According to the data, Zotye is one of the earliest domestic car companies to enter the new energy vehicle industry. It is also the first domestic invention patent in the field of pure electric vehicles and the first enterprise to obtain the production and sales license of pure electric passenger vehicles.</p><p>Despite this,<b>But Zotye's rapid expansion by imitating luxury cars is surprising</b>。 In 2016, the company launched the Zotye SR9, which looks like a Porsche Macan, and is called the \"Porsche\". In addition, due to frequent quality problems, Zotye's sales have declined rapidly in recent years.</p><p><img src=\"https://static.tigerbbs.com/aeb2f12b758335d213c513448b74d590\" tg-width=\"503\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>Such a cottage painting style, coupled with worrying quality problems, what if there is a license plate? In the end, it is still difficult to convince investors and partners.</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>61 daily limit, what kind of \"demon wind\" is the most bullish ST stock blowing?</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\">\n61 daily limit, what kind of \"demon wind\" is the most bullish ST stock blowing?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-29 17:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>If you ask which stock is the most demonic this year, it must be<a href=\"https://laohu8.com/S/000980\">* ST Zotye</a>It's none other than.</p><p>Since the beginning of this year, * ST Zotye has pulled 61 daily limits in more than 100 trading days, becoming<b>A share daily limit king</b>, the stock price has also soared from 1.34 yuan at the beginning of the year to the current 7.5 yuan, a full increase of 460%, and the stock price has increased five times!</p><p>If calculated based on the highest increase, * ST Zotye's<b>The cumulative increase is as high as 628%, more than 6 times!</b></p><p><img src=\"https://static.tigerbbs.com/83019cb4d2e69da5e15ccb2c837e3f24\" tg-width=\"840\" tg-height=\"470\"></p><p>During this period, the company issued many announcements of stock price changes and suggestive announcements that the stock may be subject to delisting risk warnings. After three suspension verifications, it failed to prevent the stock price from \"riding the dust\".</p><p>According to<a href=\"https://laohu8.com/S/300033\">Straight flush</a>According to statistics, since January 11th as of June 24th, * ST Zotye has been on the dragon and tiger list of the exchange as many as 23 times, attracting a lot of hot money to participate in the speculation.</p><p>According to data from the Choice Dragon and Tiger List, as of June 24, * ST Zotye's top five sales departments with the largest purchase amount for three consecutive trading days are all known as \"retail investor base camps\"<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>Securities Lhasa Sales Department.</p><p><img src=\"https://static.tigerbbs.com/46071fe71f43e7f8af7638a92f29ea34\" tg-width=\"1080\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p>It is worth noting that<b>Due to continuous losses, * ST Zotye is at risk of being terminated from listing. After the tens of billions of losses that shocked the auto industry in 2019</b>, * ST Zotye 2020<b>Loss 10.801 billion yuan again</b>, as of the end of 2020, the company's net assets were-4.423 billion yuan. According to regulations, the company's audited net assets in 2020 are negative, and the company's stocks continue to be subject to a \"delisting risk warning\".</p><p><b>01. Reorganization expectations cause * ST Zotye to skyrocket</b></p><p>Throughout the hype history of * ST Zotye, it has always been inseparable from the \"restructuring expectation\".</p><p>On the evening of January 11 this year, * ST Zotye issued the \"Announcement on the Progress of Public Recruitment of Investors\", stating that on December 25 and December 28, 2020, the pre-reorganization manager signed the \"Confidentiality Agreement\" with an intended investor respectively, and signed the \"Confidentiality Agreement\" and the \"Intent Agreement\" with another intended investor.</p><p><b>Since then</b>，<b>* ST Zotye's share price began to \"rise endlessly\".</b></p><p>The two intended investors have paid the corresponding confidentiality deposit and intention deposit, and started to carry out specific due diligence after paying the deposit. As the saying goes, \"stock speculation is about expectations\", and the expectation of \"someone taking over and reorganizing\" has become the core driving force for * ST Zotye's continuous rise in the future.<img src=\"https://static.tigerbbs.com/d01c30a1357f4ca66327ea763408b69c\" tg-width=\"613\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>In this regard,<b>The market once rumored that investors might<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Millet,<a href=\"https://laohu8.com/S/NIO\">Nio</a>One of them and Baoneng, among which Baoneng was once \"hammered\" by official news.</b></p><p>But later, * ST Zotye emphasized that Tesla, Xiaomi, Nio and Baoneng are not investors in the company's pre-restructuring.</p><p>According to media understanding, official website, Shandong Linyi Municipal Bureau of Commerce, once announced that the cooperation project between Baoneng Automobile Group Co., Ltd., a subsidiary of Baoneng Group, and Linyi Zotye has entered the substantive negotiation stage.</p><p>However, Baoneng Automobile denied the above statement to many media, and then Linyi Municipal Bureau of Commerce also revoked the release.</p><p><b>02. Zhibo Investment terminated its investment company, and the first and second largest tradable shareholders both \"ran away\"</b></p><p>After pulling 61 daily limits wildly,<b>A major negative news is like a bolt from the blue, which may become the straw that crushed * ST Zotye's connected board.</b></p><p>On the evening of June 25, Zotye Automobile announced that according to the relevant agreement of the Confidentiality Agreement signed by the intended investor Zhibo Investment and the company in December 2020, Zhibo Investment decided to terminate its investment in the company.</p><p><img src=\"https://static.tigerbbs.com/5d029f53c2c47afc85afae9ea489f8f0\" tg-width=\"682\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the announcement also suggested that the company's stock may face the risk of termination of listing. If the company successfully implements the reorganization and completes the reorganization plan, it will help optimize the company's asset-liability structure and enhance the company's continuous operation and profitability. If the reorganization fails, the company will be declared bankrupt.</p><p>On Monday, June 28, * ST Zotye opened with a daily limit, with more than 480,000 orders closed, and the amount of orders closed exceeded 350 million yuan.</p><p><b>Some analysts have sorted out the dynamic timeline of * ST Zotye's intended investors. In fact, things can be traced back to December last year.</b></p><p>On December 25, 2020, * ST Zotye disclosed for the first time that Shanghai Zhiyang signed the Confidentiality Agreement and the Intention Agreement with the pre-reorganization manager, and paid the corresponding confidentiality deposit and intention deposit. On December 28, 2020, Hunan Zhibo signed a \"Confidentiality Agreement\" with the pre-reorganization manager and paid the corresponding confidentiality deposit.</p><p><img src=\"https://static.tigerbbs.com/f3948a0dfa5378ccb2f70cea501d90ce\" tg-width=\"656\" tg-height=\"276\" referrerpolicy=\"no-referrer\"></p><p><b>According to the announcement of * ST Zotye on April 7, the company currently has two intended investors</b>One is Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as \"Shanghai Zhiyang\"), and the other is Hunan Zhibo Equity Investment Fund Management Co., Ltd. (hereinafter referred to as \"Hunan Zhibo\"). According to Qichacha, both companies are private equity fund managers with registered capital of 50 million yuan and 10 million yuan respectively, and neither of them has any relevant background in the automobile industry chain.</p><p><b>However, in May, things took another turn</b>。 On the evening of May 12, * ST Zotye, which has entered the pre-restructuring stage, announced that the company received a letter from Shanghai Zhiyang Investment Co., Ltd. transferred by the company's pre-restructuring manager on May 12, 2021: \"Based on the company's evaluation of the due diligence results of Zotye Automobile Co., Ltd. (hereinafter referred to as Zotye Automobile) and the recent changes in Zotye Automobile's stock price, which seriously deviated from its fundamentals, the company decided to suspend the investment in Zotye Automobile due to investment prudence.\"</p><p><b>Now, Zhibo Investment has chosen to terminate its investment in Zotye Automobile, and Shanghai Zhiyang, another potential investor, has also announced the suspension of investment. There is great uncertainty about whether it will finally decide to restructure Zotye Automobile</b>。</p><p>It never rains poorly. In addition to institutions terminating their investments,<b>Even * ST Zotye's \"own family\" has played a big reduction</b>。</p><p>On May 24th and May 27th, * ST Zotye issued two pre-disclosure announcements respectively about shareholders holding more than 5% of the shares reducing their shares in the company. First of all, the shareholder Great Wall (Deyang) Changfu Investment Fund Partnership, which holds 7.03% of the shares, plans to reduce the company's shares through centralized bidding or block trading, and the total ratio of the company's total share capital will not exceed 2.03%; Secondly, Wuhan Tianfeng Zhixin Investment Center (Limited Partnership), a shareholder holding 5.84% of the shares, plans to use centralized bidding or block transactions<b>\"Clearance\" reduction</b>。</p><p>Wind data shows that the company's first quarterly report shows that Great Wall Changfu and Tianfeng Zhixin are the company's first and second largest tradable shareholders respectively.</p><p>Daily Economic News believes that,<b>The two major shareholders suddenly made such a move when the stock price was at a high level. In addition to obtaining profits, the loss of confidence in the future of * ST Zotye can also be clearly felt</b>。</p><p>Next, will * ST Zotye, which is \"all four empty\" and \"jittery\", fall to the limit several times in a row, or will it continue to be hyped by funds to hit a new high?</p><p><b>03. The core value lies in the license plate, but the \"copycat Porsche\" cannot be tolerated</b></p><p>For * ST Zotye's connected board,<b>The entry of new car-making forces may be one of the catalysts</b>。</p><p>Recently, giants such as Xiaomi, Huawei, and Didi have successively launched car-making plans, and the qualification for new forces to build cars is a car-making qualification.<b>But so far, the National Development and Reform Commission has stopped issuing new energy vehicle production qualifications</b>。</p><p><b>Zotye has the production qualifications for new energy passenger vehicles and commercial vehicles</b>。 According to the data, Zotye is one of the earliest domestic car companies to enter the new energy vehicle industry. It is also the first domestic invention patent in the field of pure electric vehicles and the first enterprise to obtain the production and sales license of pure electric passenger vehicles.</p><p>Despite this,<b>But Zotye's rapid expansion by imitating luxury cars is surprising</b>。 In 2016, the company launched the Zotye SR9, which looks like a Porsche Macan, and is called the \"Porsche\". In addition, due to frequent quality problems, Zotye's sales have declined rapidly in recent years.</p><p><img src=\"https://static.tigerbbs.com/aeb2f12b758335d213c513448b74d590\" tg-width=\"503\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>Such a cottage painting style, coupled with worrying quality problems, what if there is a license plate? In the end, it is still difficult to convince investors and partners.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b8ea9e4b472cd3f7c83196f81fbd8882","relate_stocks":{"000980":"众泰汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188452851","content_text":"如果问今年最妖的股是哪只，那一定非*ST众泰莫属。\n今年以来，*ST众泰在100多个交易日狂拉61个涨停，成为A股涨停王，股价也从年初的1.34元飙升至目前的7.5元，足足涨了460%，股价翻了5倍！\n如果按照最高涨幅计算，*ST众泰年内的累计涨幅更是高达628%，超过6倍！\n\n期间公司多次发布股价异动公告及股票可能被实施退市风险警示的提示性公告，并历经3次停牌核查，也未能阻止股价“一骑绝尘”。\n据同花顺统计，自1月11日以来截至6月24日，*ST众泰登上交易所龙虎榜的次数高达23次，吸引了诸多游资参与炒作。\nChoice龙虎榜数据显示，截至6月24日，*ST众泰连续三个交易日内，买入金额最大的前5名营业部均为被称为“散户大本营”的东方财富证券拉萨营业部。\n\n值得注意的是，由于连续亏损，*ST众泰存在被终止上市的风险。在继2019年出现震惊汽车行业的百亿亏损后，*ST众泰2020年再度亏损108.01亿元，截至2020年末，公司净资产为-44.23亿元。根据规定，公司2020年度经审计后的净资产为负值，公司股票继续被实施“退市风险警示”处理。\n01、重组预期致*ST众泰暴涨\n纵观*ST众泰的炒作历史，则一向与“重组预期”脱不开干系。\n今年1月11日晚间，*ST众泰发布《关于公开招募投资人的进展公告》称，2020年12月25日、12月28日，预重整管理人分别与一家意向投资人签署了《保密协议》，与另一家意向投资人签署了《保密协议》和《意向协议书》。\n自此以后，*ST众泰的股价便开始“涨涨不休”。\n两家意向投资人已缴纳相应的保密保证金和意向保证金，并着手在缴纳保证金后开展具体的尽职调查工作。正所谓“炒股炒的是预期”，“有人接盘重整”的预期成为之后*ST众泰不断上涨的核心驱动力。\n对此，市场一度传言投资方可能为特斯拉、小米、蔚来和宝能的其中之一，其中宝能还一度被官方消息“实锤”。\n但后来，*ST众泰又强调称，特斯拉、小米、蔚来和宝能均不是公司预重整投资人。\n据媒体了解，山东临沂市商务局官网曾发布消息称，宝能集团旗下宝能汽车集团有限公司与临沂众泰合作项目已进入实质性洽谈阶段。\n不过，宝能汽车对多家媒体否认了上述说法，随后，临沂市商务局也撤销了该发布内容。\n02、致博投资终止投资公司，第一、二大流通股东双双“跑路”\n在狂拉61个涨停后，一则重大利空晴天霹雳一般，或许成为压垮*ST众泰连板的稻草。\n6月25日晚间，众泰汽车发布公告称，根据意向投资人致博投资与公司2020年12月签署的《保密协议书》的相关约定，致博投资决定终止投资本公司。\n\n同时，公告还提示，公司股票可能面临终止上市的风险。如果公司顺利实施重整并执行完毕重整计划，将有利于优化公司资产负债结构，提升公司的持续经营及盈利能力。若重整失败，公司将存在被宣告破产的风险。\n6月28日周一，*ST众泰开盘一字跌停，封单超过48万手，封单金额超过3.5亿元。\n有分析人士梳理了*ST众泰意向投资者的动态时间线，其实事情可以追溯到去年12月。\n在2020年12月25日，*ST众泰首次披露，上海智阳与预重整管理人签署了《保密协议》和《意向协议书》，并缴纳了相应的保密保证金和意向保证金。2020年12月28日，湖南致博与预重整管理人签署了《保密协议》，并缴纳了相应的保密保证金。\n\n根据4月7日*ST众泰的公告，目前公司意向投资人有两家，一家是上海智阳投资有限公司(下称“上海智阳”)，另一家是湖南致博股权投资基金管理有限公司(下称“湖南致博”)。企查查显示，这两家公司均为私募基金管理人，注册资本分别为5000万元和1000万元，且均无汽车产业链相关背景。\n然而时间到了5月，事情又发生了转折。5月12日晚间，已进入预重整阶段的*ST众泰发布公告称，公司于2021年5月12日收到公司预重整管理人转交的上海智阳投资有限公司向其发出的函：“基于本公司对众泰汽车股份有限公司(下称众泰汽车)尽职调查结果的评估，以及近期众泰汽车股价异动、严重偏离其基本面，出于投资谨慎性考虑，本公司决定暂缓推进对众泰汽车的投资事宜。”\n如今，致博投资选择终止推进对众泰汽车的投资事宜，而目前另一家意向投资人上海智阳亦宣布暂缓投资，是否最终决定重组众泰汽车存在很大不确定性。\n祸不单行的是，除了有机构终止投资，就连*ST众泰的“自家人”也玩起了大减持。\n5月24日和5月27日，*ST众泰分别发布了两则关于持股5%以上股东减持公司股份的预披露公告。首先，持股7.03%的股东长城（德阳）长富投资基金合伙企业计划以集中竞价方式或大宗交易方式减持公司股份合计不超过公司总股本比例 2.03%；其次，持股5.84%的股东武汉天风智信投资中心（有限合伙）计划以集中竞价方式或大宗交易方式“清仓式”减持。\nWind数据显示，公司一季报显示，长城长富和天风智信分别为公司第一、第二大流通股东。\n每日经济新闻认为，两位大股东在股价处于高位时突然来这么一招，除了获取收益之外，对*ST众泰的未来失去信心也是可以明确感觉到的。\n接下来，“四大皆空”“风声鹤唳”的*ST众泰将会连续数跌停板，还是继续被资金炒作再创新高呢？\n03、核心价值在牌照，但“山寨保时捷”不能忍\n对于*ST众泰的连板，造车新势力的入局或许是催化之一。\n近日，小米、华为、滴滴等巨头先后启动造车计划，而新势力造车的参赛资格就是一张造车资质，但截至目前发改委已停发新能源车生产资质。\n而众泰拥有新能源乘用车和商用车的生产资质。资料显示，众泰是国内最早进入新能源汽车行业的车企之一，也上国内第一个纯电动整车领域的发明专利、第一个获得了纯电动乘用车生产销售许可证的企业。\n尽管如此，但众泰采用模仿豪车的方式迅速扩张，让人大跌眼镜。2016年，公司推出了外形酷似保时捷Macan的众泰SR9，被称为“保时泰”。此外由于质量问题频发，近年来众泰汽车销量迅速下滑。\n\n这样的山寨画风，加之以令人担忧的质量问题，即使有一张牌照又如何？最终还是难以让投资方和合作方信服。","news_type":1,"symbols_score_info":{"000980":0.9}},"isVote":1,"tweetType":1,"viewCount":2152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159274965,"gmtCreate":1624972892257,"gmtModify":1703849125725,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159274965","repostId":"1139578847","repostType":4,"repost":{"id":"1139578847","kind":"news","pubTimestamp":1624961586,"share":"https://ttm.financial/m/news/1139578847?lang=en_US&edition=fundamental","pubTime":"2021-06-29 18:13","market":"us","language":"zh","title":"Blue City Brothers' \"Same Sex\" Business Experience","url":"https://stock-news.laohu8.com/highlight/detail?id=1139578847","media":"BT财经","summary":"蓝城兄弟作为亚洲LGBTQ群体的隐秘聚集地，在流量到顶后能否走通流量变现的闭环？\n\n6月中旬，号称“粉红第一股”的蓝城兄弟（Blued）公布了一季度财报，这家专注于LGBTQ垂直社交的企业交上了一份看","content":"<p><a href=\"https://laohu8.com/S/BLCT\">Blue City Brothers</a>As a secret gathering place for the LGBTQ community in Asia, can it go through the closed loop of traffic monetization after the traffic reaches its peak? In mid-June, Blued, known as the \"No. 1 stock in *\", announced its first-quarter financial report. This company focusing on LGBTQ vertical social networking handed in a looking good performance answer sheet.</p><p>The financial report shows that in terms of the number of users, the overall MAU (monthly active users) of Blue City Brothers reached 8.3 million, a year-on-year increase of 37.5%, and the number of paid members also reached a record high of 640,000, a year-on-year increase of 47.8%.</p><p>According to Blue City Brothers, its software has the largest market share in the LGBTQ social field in China and other parts of Asia (including India, South Korea, Thailand and Vietnam). In 2021, it will also make efforts in Latin America to continue to explore the international market. The number of users can continue to increase in the future.</p><p>However, from the perspective of business data, in the first quarter of 2021, Blue City Brothers achieved operating income of 271.1 million yuan, a year-on-year increase of 31%, and a loss of 52.1 million yuan. In the same period of 2020, it was a loss of 7.6 million yuan, and the loss expanded by 585% year-on-year.</p><p><b>The year-on-year growth rate of operating income looks good, but the loss has expanded instead. What happened to the Blue City brothers who increased revenue but did not increase profits?</b></p><p><b>Users reach the top, and increment depends on buying</b></p><p>Blue City Brothers, the first stock in * 's economy, still can only rely on the live broadcast business to support the sky, and the vigorously cultivated health business is still in its infancy.</p><p>Previously affected by the celebrity surrogacy incident, the \"gay\" family surrogacy business, an important part of Blue City Brothers' business closed loop, was also forced to close, and publicly announced the termination of the business in the first quarter report of 2021.</p><p>Blue City's business development does not seem to be affected by this black swan incident, and the year-on-year growth rate of business revenue is still considerable. In 2020, it will successively acquire two same-sex social platforms, LESDO and FINKA.</p><p>In the first quarter after the completion of the acquisition, BT Finance re-examined the data of Blue City Brothers and found: Fortunately, Blue City's business has finally emerged from the weak state in 2020.</p><p>The user increment data of Blue City Brothers in the first quarter looks very gratifying, but by lengthening the timeline, it is not difficult to find that the increase in data is not as optimistic as imagined.</p><p>Since the second half of 2019, the user growth of Bluetown Brothers has stagnated.<b>In the three quarters from the third quarter of 2019 to the first quarter of 2020, the number of monthly active users of Blue City Brothers continued to maintain a low growth rate, with the quarter-on-quarter growth rate not exceeding 5%.</b></p><p>Among them, the number of monthly active users in the fourth quarter of 2019 hardly increased, and the number of users in the first quarter of 2020 only increased by 2% to about 130,000. The sluggish momentum is very obvious.</p><p><img src=\"https://static.tigerbbs.com/75346e503d44c0ff1d2cf41ea5b04990\" tg-width=\"938\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Blue City Brothers may also realize that users are beginning to enter the stock crisis, and other methods must be used.</p><p>After its successful listing in July 2020, Blue City Brothers completed the acquisition of LESDO, a vertical social community for women, and Finka, a social software for men, in August and December 2020, respectively.</p><p>As a result, the growth rate of monthly active users in the fourth quarter of 2020 and the first quarter of 2021 changed from the previous weakness and increased significantly. In the fourth quarter of 2020, the number of monthly active users reached 7.6 million, an increase of 20.6% from the previous quarter. In the first quarter of 2021, the number of monthly active users reached 8.3 million people, an increase of 9.21% from the previous quarter.</p><p>Blue City Brothers did not disclose the ratio of monthly active data among Blued, Finka, and Lesdo softwares in the annual report, so we cannot know how much of the increase in users comes from the superposition of the base and how much comes from the growth of endogenous operations.</p><p>According to reports, Finka, as a vertical social app for men, has more than 3 million registered users; LESDO is a representative of women's vertical social field, reaching 8 million registrations as early as 2018. Based on Blued's own monthly active user ratio of about 1/8, these two apps will contribute about 1.5 million new monthly active users.</p><p><b>Therefore, in the past two quarters, most of the net increase of 2 million monthly active users of Blue City Brothers has come from the data merger of the acquisition of LESDO and Finka, and the increase of less than 500,000 has come from endogenous growth. The average quarter-on-quarter growth rate is still less than 5%.</b></p><p>According to statistics from Frost & Sullivan, a well-known global growth consulting firm, the proportion of LGBTQ people in the whole is about 6%. Based on this calculation, the number of potential LGBTQ people in China is as high as 84 million, but after excluding non-age people, non-mobile network users and some \"deep cabinet\" people, the number of LGBTQ people willing to use social software is not so large.</p><p>According to the data disclosed by Blued, the number of registered users of Blued alone has reached 59 million in the third quarter of 2020. Calculated based on half of the foreign population (half of the monthly active users are overseas people), the number of registered users in China is nearly 30 million. It can be said that the coverage of the population has basically been achieved and it tends to be saturated.</p><p>That is to say, in the LGBTQ social field, user traffic has reached a ceiling.<b>If Blue City Brothers wants to maintain the rapid growth of user scale, they can only choose horizontal expansion: either merge with competitors in the same industry or expand to overseas markets.</b></p><p><b>More and more like<a href=\"https://laohu8.com/S/MOMO\">Momo</a>？</b></p><p>After the successful integration with LESD and Finka, the overall MAU data of Blue City Brothers has indeed increased significantly, supporting the imagination of the future, but the business revenue has changed in the opposite way: the fourth quarter of 2020 and the first quarter of 2021 Although the revenue still increased compared with the same period last year, from a quarter-on-quarter perspective, there have been two consecutive declines. Compared with the total revenue of 297 million yuan in the third quarter of 2020, the revenue in the fourth quarter of 2020 fell by about 6.3% from the previous quarter to 279 million yuan, and the revenue in the first quarter of 2021 continued to decline to 271 million yuan.</p><p>Even from the perspective of year-on-year growth rate, the business growth rate in the fourth quarter of 2020 was only 24%, and the revenue growth rate in the first quarter of 2021 was only 30.7%, which is not only lower than the overall average growth rate of 35.8% in 2020, but also lower than The growth rate in the first quarter of 2020 was 42.7%.</p><p><b>Even if factors such as the Spring Festival will lead to seasonal fluctuations in revenue in the first quarter, considering the small base under the impact of the epidemic in the first quarter of 2020 and the new merger and acquisition of the two companies by Blue City Brothers, such revenue performance is really lower than market expectations.</b></p><p><img src=\"https://static.tigerbbs.com/6363c81e8155b159ce04b825b11f8807\" tg-width=\"943\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p>Similarly, socializing with strangers, one is heterosexual socializing with mainstream groups, and the other is vertical LGBTQ socializing. Momo and Blue City Brothers have a lot in common. Some people even say that Blue City Brothers are just like Momo two years ago.</p><p>In 2018, Momo acquired Tantan; In 2020, Blued acquired Finka, and Tantan and Finka are both screening and matching social software with swipe left and right mode, which has become an important business supplement to Momo and Blued.</p><p>From the perspective of revenue business composition, Momo and Blued are also very similar-the main source of revenue is the live broadcast business.</p><p>Although Momo's live broadcast business revenue only accounted for about 64% of the total revenue in 2020, in 2018, Momo's live broadcast revenue accounted for as high as 79.8%. In 2020, Blued's live broadcast business accounted for 84% of total revenue.</p><p>From the perspective of input-output ratio, the benefits of Blue City Brothers are far less than those of Momo.</p><p>In 2015, Momo's annual revenue was also about 1 billion yuan. The difference is that Momo had already started to make profits at that time, while Blued is still in a state of loss, and there is a tendency to expand losses.</p><p><img src=\"https://static.tigerbbs.com/3cb0d61d309e04fd4220418281f041d7\" tg-width=\"895\" tg-height=\"540\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of input and output of expenses, the current sales investment ratio of Blue City Brothers is lower than that of Momo in 2015, and the R&D investment ratio is equivalent to that of Momo in 2015, but it has not achieved the same profit as Momo in 2015, let alone compared with the low investment and high return of Momo now.</p><p><img src=\"https://static.tigerbbs.com/307be7e9d23e2eea272836073efe91f3\" tg-width=\"895\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In short, the high amount of money invested by Blue City Brothers not only failed to help itself achieve a rapid increase in revenue, but also failed to help itself achieve a profit from negative to positive.</p><p>Burning money ineffectively is the most terrible thing.</p><p>Due to the ceiling problem of the stock market, Blue City Brothers has to continue to enter the international market. Every country and every region needs a matching software version, and it needs to be promoted and operated to cultivate carefully.</p><p>As a result, the R&D expenses and sales expenses of Blue City Brothers have always been maintained at a high level, but the return on business income and the realization effect of traffic are not good.</p><p><b>Secret New Business-\"Comrade\" Health</b></p><p>In the revenue structure of Blue City Brothers, live broadcast revenue is the absolute bulk, accounting for more than 80% of the share.</p><p><b>According to the changes in live broadcast business revenue in the past year, live broadcast business revenue, like the original number of Blued users, has encountered a ceiling bottleneck.</b></p><p>In the fourth quarter of 2020 and the first quarter of 2021, live broadcast business revenue showed a downward trend, with business revenue in the fourth quarter falling by 12% month-on-month.</p><p>The increase in users brought about by mergers and acquisitions did not have a beneficial direct impact on the live broadcast business.</p><p><img src=\"https://static.tigerbbs.com/fee5deefcc0dedb711c8362b17f048c3\" tg-width=\"820\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Due to the particularity of same-sex social interaction, its live broadcast business has repeatedly been exposed to \"edge ball\" incidents.</p><p>According to media reports, many of Blued's live broadcast rooms violate the rules for live broadcast. \"Some anchors open live broadcasts during the day with the theme of 'Men's Team Catwalk', and the 'models' on the 'T-stage' wear uniform white underwear.\"</p><p>\"In the process of interaction between anchors, there is no lack of suggestive chat content\".</p><p>Such a live broadcast scale is an absolute red line of rules on other live broadcast platforms, and it is basically impossible to pass the review. Once it faces regulatory intervention in the future, it is unknown whether Blue City Brothers' live broadcast business revenue will encounter the risk of business shrinkage.</p><p>In contrast, the membership payment business and health business are booming.</p><p><img src=\"https://static.tigerbbs.com/ee09bddab4899653070924311ac37533\" tg-width=\"817\" tg-height=\"495\" referrerpolicy=\"no-referrer\"></p><p>In the first quarter of 2021, the number of paying users increased significantly, with a quarter-on-quarter increase of 23.55% and a year-on-year increase of 47.8%, which directly affected the membership service business revenue to increase by 75.9% year-on-year to 26.4 million yuan.</p><p>This shows that with the regional monopoly position and intensive cultivation of the LGBTQ vertical field, the user stickiness of Blue City Brothers continues to increase.</p><p>On the one hand, user stickiness is the moat for Blue City Brothers to resist risks in the future development process. On the other hand, these paying users also provide a consumer base for the health product consumption business.</p><p>To realize the change of the core of the business, we cannot ignore the rapidly growing and high-hoped Hall Health product sales business of Blue City Brothers.</p><p>In the first quarter of 2021, the commodity sales revenue from Hall Health was 11.4 million yuan, a year-on-year increase of 297.7%.</p><p>Previously, Blued's e-commerce business content was mainly limited to male health products and sexual appliances, and the exploration of user needs was not in-depth.</p><p>But after 2019, Blue City Brothers launched an independent health service brand \"Hall Health\", which took HIV detection, blocking, prevention and treatment as the breakthrough point, and deeply approached the unspeakable \"health needs\" of gay men.</p><p><img src=\"https://static.tigerbbs.com/9dacdcffc26e47e705848fcf3e4a0b48\" tg-width=\"1055\" tg-height=\"515\" referrerpolicy=\"no-referrer\"></p><p>The earliest transmission of HIV began among gay men in the United States in the 1980s. Because of the special sexual behavior, gay men have always been the hardest hit area of HIV-infected people. In the United States and Europe, gay and bisexual men are the main HIV-infected groups.</p><p>According to the China Health Commission, of the 96,000 new cases identified in the first three quarters of 2016, 28% were MSM (male gay sexual contacts), compared with only 2.5% in 2006.</p><p>The threat of AIDS to gay men is far higher than that of ordinary people, so this group has a higher demand for AIDS protection, detection and blocking.</p><p>Blue City Brothers has seized this \"unspeakable\" health segment. After taking AIDS health services as the entry point, Hall Health has also expanded other \"unspeakable\" health services such as sexual dysfunction and hair loss. With the accurate docking and in-depth binding of its user groups, it has opened up a unique, niche but irreplaceable health business path.</p><p><b>Compared with the sale of health care products and sexual appliances through e-commerce, Hall Health's business has higher consumption frequency, greater consumption potential, and deeper consumption binding.</b></p><p>In less than two years since the establishment of Hall Health Business, the business has developed rapidly and is expected to become the Blue City Brothers' next live broadcast<a href=\"https://laohu8.com/S/ABCD\">newly born</a>The core business has truly opened up the closed business loop from traffic to consumption, and the story of * 's economy has finally become complete.</p><p>Although compared with traditional heterosexual social platforms such as Momo, the traffic pool of Blue City Brothers' business is naturally at a disadvantage. Therefore, Momo only needs to deeply operate in the domestic region, and it can gain much more than the Blue City brothers' hard work to develop overseas markets.</p><p><b>However, with a relatively niche field + absolute market share, Blue City Brothers has gained more sticky users, stronger market barriers and business growth with clear paths.</b></p><p>From obtaining user traffic to binding user consumption, from realizing live broadcasts to realizing health services, the business story of Blue City Brothers may be \"difficult to tell\", but it also exudes its unique brilliance of \"small but beautiful\".</p>","source":"lsy1588993976395","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>Blue City Brothers' \"Same Sex\" Business Experience</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\">\nBlue City Brothers' \"Same Sex\" Business Experience\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">BT财经</strong><span class=\"h-time small\">2021-06-29 18:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/BLCT\">Blue City Brothers</a>As a secret gathering place for the LGBTQ community in Asia, can it go through the closed loop of traffic monetization after the traffic reaches its peak? In mid-June, Blued, known as the \"No. 1 stock in *\", announced its first-quarter financial report. This company focusing on LGBTQ vertical social networking handed in a looking good performance answer sheet.</p><p>The financial report shows that in terms of the number of users, the overall MAU (monthly active users) of Blue City Brothers reached 8.3 million, a year-on-year increase of 37.5%, and the number of paid members also reached a record high of 640,000, a year-on-year increase of 47.8%.</p><p>According to Blue City Brothers, its software has the largest market share in the LGBTQ social field in China and other parts of Asia (including India, South Korea, Thailand and Vietnam). In 2021, it will also make efforts in Latin America to continue to explore the international market. The number of users can continue to increase in the future.</p><p>However, from the perspective of business data, in the first quarter of 2021, Blue City Brothers achieved operating income of 271.1 million yuan, a year-on-year increase of 31%, and a loss of 52.1 million yuan. In the same period of 2020, it was a loss of 7.6 million yuan, and the loss expanded by 585% year-on-year.</p><p><b>The year-on-year growth rate of operating income looks good, but the loss has expanded instead. What happened to the Blue City brothers who increased revenue but did not increase profits?</b></p><p><b>Users reach the top, and increment depends on buying</b></p><p>Blue City Brothers, the first stock in * 's economy, still can only rely on the live broadcast business to support the sky, and the vigorously cultivated health business is still in its infancy.</p><p>Previously affected by the celebrity surrogacy incident, the \"gay\" family surrogacy business, an important part of Blue City Brothers' business closed loop, was also forced to close, and publicly announced the termination of the business in the first quarter report of 2021.</p><p>Blue City's business development does not seem to be affected by this black swan incident, and the year-on-year growth rate of business revenue is still considerable. In 2020, it will successively acquire two same-sex social platforms, LESDO and FINKA.</p><p>In the first quarter after the completion of the acquisition, BT Finance re-examined the data of Blue City Brothers and found: Fortunately, Blue City's business has finally emerged from the weak state in 2020.</p><p>The user increment data of Blue City Brothers in the first quarter looks very gratifying, but by lengthening the timeline, it is not difficult to find that the increase in data is not as optimistic as imagined.</p><p>Since the second half of 2019, the user growth of Bluetown Brothers has stagnated.<b>In the three quarters from the third quarter of 2019 to the first quarter of 2020, the number of monthly active users of Blue City Brothers continued to maintain a low growth rate, with the quarter-on-quarter growth rate not exceeding 5%.</b></p><p>Among them, the number of monthly active users in the fourth quarter of 2019 hardly increased, and the number of users in the first quarter of 2020 only increased by 2% to about 130,000. The sluggish momentum is very obvious.</p><p><img src=\"https://static.tigerbbs.com/75346e503d44c0ff1d2cf41ea5b04990\" tg-width=\"938\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Blue City Brothers may also realize that users are beginning to enter the stock crisis, and other methods must be used.</p><p>After its successful listing in July 2020, Blue City Brothers completed the acquisition of LESDO, a vertical social community for women, and Finka, a social software for men, in August and December 2020, respectively.</p><p>As a result, the growth rate of monthly active users in the fourth quarter of 2020 and the first quarter of 2021 changed from the previous weakness and increased significantly. In the fourth quarter of 2020, the number of monthly active users reached 7.6 million, an increase of 20.6% from the previous quarter. In the first quarter of 2021, the number of monthly active users reached 8.3 million people, an increase of 9.21% from the previous quarter.</p><p>Blue City Brothers did not disclose the ratio of monthly active data among Blued, Finka, and Lesdo softwares in the annual report, so we cannot know how much of the increase in users comes from the superposition of the base and how much comes from the growth of endogenous operations.</p><p>According to reports, Finka, as a vertical social app for men, has more than 3 million registered users; LESDO is a representative of women's vertical social field, reaching 8 million registrations as early as 2018. Based on Blued's own monthly active user ratio of about 1/8, these two apps will contribute about 1.5 million new monthly active users.</p><p><b>Therefore, in the past two quarters, most of the net increase of 2 million monthly active users of Blue City Brothers has come from the data merger of the acquisition of LESDO and Finka, and the increase of less than 500,000 has come from endogenous growth. The average quarter-on-quarter growth rate is still less than 5%.</b></p><p>According to statistics from Frost & Sullivan, a well-known global growth consulting firm, the proportion of LGBTQ people in the whole is about 6%. Based on this calculation, the number of potential LGBTQ people in China is as high as 84 million, but after excluding non-age people, non-mobile network users and some \"deep cabinet\" people, the number of LGBTQ people willing to use social software is not so large.</p><p>According to the data disclosed by Blued, the number of registered users of Blued alone has reached 59 million in the third quarter of 2020. Calculated based on half of the foreign population (half of the monthly active users are overseas people), the number of registered users in China is nearly 30 million. It can be said that the coverage of the population has basically been achieved and it tends to be saturated.</p><p>That is to say, in the LGBTQ social field, user traffic has reached a ceiling.<b>If Blue City Brothers wants to maintain the rapid growth of user scale, they can only choose horizontal expansion: either merge with competitors in the same industry or expand to overseas markets.</b></p><p><b>More and more like<a href=\"https://laohu8.com/S/MOMO\">Momo</a>？</b></p><p>After the successful integration with LESD and Finka, the overall MAU data of Blue City Brothers has indeed increased significantly, supporting the imagination of the future, but the business revenue has changed in the opposite way: the fourth quarter of 2020 and the first quarter of 2021 Although the revenue still increased compared with the same period last year, from a quarter-on-quarter perspective, there have been two consecutive declines. Compared with the total revenue of 297 million yuan in the third quarter of 2020, the revenue in the fourth quarter of 2020 fell by about 6.3% from the previous quarter to 279 million yuan, and the revenue in the first quarter of 2021 continued to decline to 271 million yuan.</p><p>Even from the perspective of year-on-year growth rate, the business growth rate in the fourth quarter of 2020 was only 24%, and the revenue growth rate in the first quarter of 2021 was only 30.7%, which is not only lower than the overall average growth rate of 35.8% in 2020, but also lower than The growth rate in the first quarter of 2020 was 42.7%.</p><p><b>Even if factors such as the Spring Festival will lead to seasonal fluctuations in revenue in the first quarter, considering the small base under the impact of the epidemic in the first quarter of 2020 and the new merger and acquisition of the two companies by Blue City Brothers, such revenue performance is really lower than market expectations.</b></p><p><img src=\"https://static.tigerbbs.com/6363c81e8155b159ce04b825b11f8807\" tg-width=\"943\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p>Similarly, socializing with strangers, one is heterosexual socializing with mainstream groups, and the other is vertical LGBTQ socializing. Momo and Blue City Brothers have a lot in common. Some people even say that Blue City Brothers are just like Momo two years ago.</p><p>In 2018, Momo acquired Tantan; In 2020, Blued acquired Finka, and Tantan and Finka are both screening and matching social software with swipe left and right mode, which has become an important business supplement to Momo and Blued.</p><p>From the perspective of revenue business composition, Momo and Blued are also very similar-the main source of revenue is the live broadcast business.</p><p>Although Momo's live broadcast business revenue only accounted for about 64% of the total revenue in 2020, in 2018, Momo's live broadcast revenue accounted for as high as 79.8%. In 2020, Blued's live broadcast business accounted for 84% of total revenue.</p><p>From the perspective of input-output ratio, the benefits of Blue City Brothers are far less than those of Momo.</p><p>In 2015, Momo's annual revenue was also about 1 billion yuan. The difference is that Momo had already started to make profits at that time, while Blued is still in a state of loss, and there is a tendency to expand losses.</p><p><img src=\"https://static.tigerbbs.com/3cb0d61d309e04fd4220418281f041d7\" tg-width=\"895\" tg-height=\"540\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of input and output of expenses, the current sales investment ratio of Blue City Brothers is lower than that of Momo in 2015, and the R&D investment ratio is equivalent to that of Momo in 2015, but it has not achieved the same profit as Momo in 2015, let alone compared with the low investment and high return of Momo now.</p><p><img src=\"https://static.tigerbbs.com/307be7e9d23e2eea272836073efe91f3\" tg-width=\"895\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In short, the high amount of money invested by Blue City Brothers not only failed to help itself achieve a rapid increase in revenue, but also failed to help itself achieve a profit from negative to positive.</p><p>Burning money ineffectively is the most terrible thing.</p><p>Due to the ceiling problem of the stock market, Blue City Brothers has to continue to enter the international market. Every country and every region needs a matching software version, and it needs to be promoted and operated to cultivate carefully.</p><p>As a result, the R&D expenses and sales expenses of Blue City Brothers have always been maintained at a high level, but the return on business income and the realization effect of traffic are not good.</p><p><b>Secret New Business-\"Comrade\" Health</b></p><p>In the revenue structure of Blue City Brothers, live broadcast revenue is the absolute bulk, accounting for more than 80% of the share.</p><p><b>According to the changes in live broadcast business revenue in the past year, live broadcast business revenue, like the original number of Blued users, has encountered a ceiling bottleneck.</b></p><p>In the fourth quarter of 2020 and the first quarter of 2021, live broadcast business revenue showed a downward trend, with business revenue in the fourth quarter falling by 12% month-on-month.</p><p>The increase in users brought about by mergers and acquisitions did not have a beneficial direct impact on the live broadcast business.</p><p><img src=\"https://static.tigerbbs.com/fee5deefcc0dedb711c8362b17f048c3\" tg-width=\"820\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>Due to the particularity of same-sex social interaction, its live broadcast business has repeatedly been exposed to \"edge ball\" incidents.</p><p>According to media reports, many of Blued's live broadcast rooms violate the rules for live broadcast. \"Some anchors open live broadcasts during the day with the theme of 'Men's Team Catwalk', and the 'models' on the 'T-stage' wear uniform white underwear.\"</p><p>\"In the process of interaction between anchors, there is no lack of suggestive chat content\".</p><p>Such a live broadcast scale is an absolute red line of rules on other live broadcast platforms, and it is basically impossible to pass the review. Once it faces regulatory intervention in the future, it is unknown whether Blue City Brothers' live broadcast business revenue will encounter the risk of business shrinkage.</p><p>In contrast, the membership payment business and health business are booming.</p><p><img src=\"https://static.tigerbbs.com/ee09bddab4899653070924311ac37533\" tg-width=\"817\" tg-height=\"495\" referrerpolicy=\"no-referrer\"></p><p>In the first quarter of 2021, the number of paying users increased significantly, with a quarter-on-quarter increase of 23.55% and a year-on-year increase of 47.8%, which directly affected the membership service business revenue to increase by 75.9% year-on-year to 26.4 million yuan.</p><p>This shows that with the regional monopoly position and intensive cultivation of the LGBTQ vertical field, the user stickiness of Blue City Brothers continues to increase.</p><p>On the one hand, user stickiness is the moat for Blue City Brothers to resist risks in the future development process. On the other hand, these paying users also provide a consumer base for the health product consumption business.</p><p>To realize the change of the core of the business, we cannot ignore the rapidly growing and high-hoped Hall Health product sales business of Blue City Brothers.</p><p>In the first quarter of 2021, the commodity sales revenue from Hall Health was 11.4 million yuan, a year-on-year increase of 297.7%.</p><p>Previously, Blued's e-commerce business content was mainly limited to male health products and sexual appliances, and the exploration of user needs was not in-depth.</p><p>But after 2019, Blue City Brothers launched an independent health service brand \"Hall Health\", which took HIV detection, blocking, prevention and treatment as the breakthrough point, and deeply approached the unspeakable \"health needs\" of gay men.</p><p><img src=\"https://static.tigerbbs.com/9dacdcffc26e47e705848fcf3e4a0b48\" tg-width=\"1055\" tg-height=\"515\" referrerpolicy=\"no-referrer\"></p><p>The earliest transmission of HIV began among gay men in the United States in the 1980s. Because of the special sexual behavior, gay men have always been the hardest hit area of HIV-infected people. In the United States and Europe, gay and bisexual men are the main HIV-infected groups.</p><p>According to the China Health Commission, of the 96,000 new cases identified in the first three quarters of 2016, 28% were MSM (male gay sexual contacts), compared with only 2.5% in 2006.</p><p>The threat of AIDS to gay men is far higher than that of ordinary people, so this group has a higher demand for AIDS protection, detection and blocking.</p><p>Blue City Brothers has seized this \"unspeakable\" health segment. After taking AIDS health services as the entry point, Hall Health has also expanded other \"unspeakable\" health services such as sexual dysfunction and hair loss. With the accurate docking and in-depth binding of its user groups, it has opened up a unique, niche but irreplaceable health business path.</p><p><b>Compared with the sale of health care products and sexual appliances through e-commerce, Hall Health's business has higher consumption frequency, greater consumption potential, and deeper consumption binding.</b></p><p>In less than two years since the establishment of Hall Health Business, the business has developed rapidly and is expected to become the Blue City Brothers' next live broadcast<a href=\"https://laohu8.com/S/ABCD\">newly born</a>The core business has truly opened up the closed business loop from traffic to consumption, and the story of * 's economy has finally become complete.</p><p>Although compared with traditional heterosexual social platforms such as Momo, the traffic pool of Blue City Brothers' business is naturally at a disadvantage. Therefore, Momo only needs to deeply operate in the domestic region, and it can gain much more than the Blue City brothers' hard work to develop overseas markets.</p><p><b>However, with a relatively niche field + absolute market share, Blue City Brothers has gained more sticky users, stronger market barriers and business growth with clear paths.</b></p><p>From obtaining user traffic to binding user consumption, from realizing live broadcasts to realizing health services, the business story of Blue City Brothers may be \"difficult to tell\", but it also exudes its unique brilliance of \"small but beautiful\".</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/-hDx2-K4AmZSsgjKwzmprg\">BT财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9b04c4a552ab5210706bb7ed078cf967","relate_stocks":{"BLCT":"蓝城兄弟"},"source_url":"https://mp.weixin.qq.com/s/-hDx2-K4AmZSsgjKwzmprg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139578847","content_text":"蓝城兄弟作为亚洲LGBTQ群体的隐秘聚集地，在流量到顶后能否走通流量变现的闭环？\n\n6月中旬，号称“粉红第一股”的蓝城兄弟（Blued）公布了一季度财报，这家专注于LGBTQ垂直社交的企业交上了一份看起来还不错的业绩答卷。\n财报显示，从用户人数来看，蓝城兄弟的整体MAU（月活用户）数量达到了830万人，同比增长37.5%，付费会员数也达到了历史新高64万人，同比增长47.8%。\n据蓝城兄弟表述，其软件在中国、亚洲其他地区（包括印度、韩国、泰国和越南）的LGBTQ社交领域均市场占有率第一，2021年还将在拉丁美洲发力，继续开拓国际市场，未来用户数量持续增加可期。\n不过从业务数据看，2021年一季度，蓝城兄弟实现营业收入2.711亿元，同比增长31%，亏损5210万元，2020年同期为亏损760万元，亏损幅度同比扩大了585%。\n营业收入同比增速看起来还不错，但亏损反而扩大了，增收不增利的蓝城兄弟遭遇了什么？\n用户到顶，增量靠买\n粉红经济第一股蓝城兄弟如今依然只能依赖直播业务撑起一片天，大力培育的健康业务还处于萌芽之中。\n此前受明星代孕事件影响，蓝城兄弟商业闭环中的重要组成部分——“同志”家庭代孕业务也被迫关闭，并且在2021年一季度报告里公开宣布业务终止。\n蓝城的业务开展似乎并没有受到这一黑天鹅事件的影响，业务收入同比增速依然可观，2020年接连收购LESDO、FINKA两大同性社交平台。\n完成收购后的第一个季度，BT财经重新审视蓝城兄弟的数据发现：还好，蓝城业务终于走出了2020年的乏力状态。\n蓝城兄弟一季度的用户增量数据看起来很喜人，但把时间轴拉长，不难发现，数据的增加并没有想象中那么乐观。\n从2019年下半年开始，蓝城兄弟的用户增长就出现停滞，从2019年三季度到2020年一季度的三个季度里，蓝城兄弟的月活用户数持续维持低速增长，环比增速均不超过5%。\n其中，2019年四季度的月活用户几乎未有增加，2020年一季度的用户数量也仅增加2%约13万人，势头萎靡十分明显。\n\n蓝城兄弟可能也意识到：用户开始步入存量危机，必须要动用其他办法了。\n2020年7月成功上市后，蓝城兄弟分别在2020年8月和12月，完成了对女性垂直社交社区LESDO和男性社交软件Finka的收购。\n于是2020年四季度和2021年一季度的月活用户增速一改此前的疲态，大幅增加，2020年四季度月活用户达到760万人，环比增加20.6%，2021年一季度月活用户达830万人，环比增加9.21%。\n蓝城兄弟并没有在年报中披露月活数据在Blued、Finka、Lesdo三个软件之间的比例是什么，因此我们无法得知用户增加有多少来自于基数的叠加、多少来自于内生运营增长。\n据报道，Finka作为男性垂直社交app，注册用户数量超过300万；而LESDO则是女性垂直社交领域的代表，早在2018年就达到了800万的注册量。按照Blued本身大约1/8的月活用户比例来计算，这两个app将贡献约150万的新增月活用户。\n因此近两个季度以来，蓝城兄弟月活用户净增加的200万中，大部分都是来自于收购LESDO、Finka的数据合并，只有不到50万的增量来自于内生增长，平均单季度环比增速依然不足5%。\n著名全球增长咨询公司Frost&Sullivan统计数据显示，LGBTQ人群在整体当中的比例约为6%。如果以此计算，中国的潜在LGBTQ人群数量高达8400万，但排除非适龄人群、非移动网络使用人群和一些“深柜”人群后，愿意使用社交软件的LGBTQ人群数量并没有这么多。\n根据Blued披露的数据，仅Blued注册用户在2020年三季度时就已经达到了5900万，按照其中一半的外国人群计算（月活用户一半为海外人群），中国的注册用户数将近3000万，可以说已经基本实现了人群的覆盖，趋于饱和。\n也就是说在LGBTQ社交领域，用户流量已经出现了天花板，蓝城兄弟想要维持用户规模的快速增长就只能选择横向的扩张：要么与同业竞争者合并、要么向海外市场扩张。\n越来越像陌陌？\n在与LESD、Finka成功整合之后，蓝城兄弟整体的MAU数据确实出现了大幅增长，支撑了未来的想象空间，但是业务收入却出现了与之相反的变化：2020年四季度和2021年一季度的营收虽然与去年同期相比仍有增长，但从环比上看却出现了两连降。相比于2020年三季度2.97亿元的总营收，2020年四季度的营收环比下滑了约6.3%、为2.79亿元，2021年一季度的营收继续下降为2.71亿元。\n即便是从同比增速来看，2020年四季度业务增速仅为24%，2021年一季度营收增速仅为30.7%，不仅低于2020年整体平均增速35.8%、更低于2020年一季度的增速42.7%。\n即便春节等因素会导致一季度收入出现季节性波动，但考虑到2020年一季度疫情影响下基数不大以及蓝城兄弟新并购整合了两家企业情况下，如此的营收表现，着实是低于市场预期的。\n\n同样做陌生人社交，一个是做主流群体的异性社交，一个是做垂直的LGBTQ社交，陌陌和蓝城兄弟有着非常多的共通之处，更有人说，蓝城兄弟就像是两年前的陌陌一样。\n2018年，陌陌收购了探探；2020年，Blued收购了Finka，而探探、Finka都是左滑右滑模式的筛选配对社交软件，成为了陌陌和Blued的重要业务补充。\n从营收业务构成来看，陌陌与Blued也十分相似——主要收入来源都是直播业务。\n尽管2020年陌陌的直播业务收入仅占据总收入的64%左右，但在2018年时，陌陌直播收入的占比也曾高达79.8%。而2020年Blued直播业务占总营收的比例为84%。\n如果从投入产出比上看，蓝城兄弟的效益远不及陌陌。\n陌陌在2015年时年营收也是10亿元左右的规模，不同的是彼时的陌陌就已经开始盈利了，Blued至今仍然处于亏损状态，而且有亏损扩大的趋势。\n\n从费用的投入产出来看，当前蓝城兄弟的销售投入比例低于2015年的陌陌，研发投入比例与2015年的陌陌相当，却并没有像陌陌在2015年时一样，实现盈利，更不用和现在的陌陌的低投入高回报相比了。\n\n简而言之，蓝城兄弟投入的高额资金不仅没有帮助自身实现营收快速增加，也没有帮助自己实现利润由负转正。\n无效烧钱最为可怕。\n由于存量市场天花板问题，蓝城兄弟不得不持续向国际市场进军，每一个国家、每一个区域都需要与之相匹配的软件版本、都需要推广运营来细心耕耘。\n这导致蓝城兄弟的研发开支和销售开支始终维持在较高的水平，但业务收入回报和流量变现效果却并不佳。\n隐秘新业务——“同志”健康\n在蓝城兄弟的收入结构中，直播收入是其中绝对的大头，占据80%以上的份额。\n根据过去一年以来的直播业务收入变化情况来看，直播业务收入与原本Blued用户数量一样，遭遇了天花板瓶颈。\n2020年四季度和2021年一季度直播业务收入都呈现下滑态势，其中四季度业务收入环比下降12%。\n并购带来的用户增量并没有给直播业务带来有益的直接影响。\n\n由于同性社交带有一定的特殊性，其直播业务屡屡被曝出“打擦边球”的事件。\n据媒体报道，Blued的不少直播间都存在违反规则进行直播的现象。“有些主播以‘男团走秀’为主题在日间开通直播，‘T台’上的‘模特们’身上穿着统一的白色内裤。”\n“主播之间的互动过程中，不乏充满暗示意味的聊天内容”。\n这样的直播尺度，在其他直播平台上是绝对的规则红线，基本无法过审。一旦未来面临监管介入后，蓝城兄弟的直播业务收入是否将遭遇业务萎缩的风险不得而知。\n与之相对的是会员付费业务和健康业务发展欣欣向荣。\n\n2021年一季度，付费用户数量大幅提升，环比增加23.55%、同比增长47.8%，直接影响会员服务业务收入同比增长 75.9%，达到2640万元。\n这说明凭借区域的垄断地位和对LGBTQ垂直领域的深耕细作，蓝城兄弟的用户粘性在持续提升。\n一方面，用户粘性是蓝城兄弟未来发展过程中抵御风险的护城河。另一方面，这些付费用户也为健康产品消费业务提供了消费人群基础。\n要实现业务核心的变更，我们不可忽视的是蓝城兄弟快速增长并被寄予厚望的荷尔健康商品销售业务。\n2021年一季度来自荷尔健康的商品销售收入为1140万元，同比增长297.7%。\n此前Blued的电商业务内容也主要局限于男性保健品与性器具，对用户需求的发掘并不深入。\n但2019年后，蓝城兄弟推出了独立健康服务品牌“荷尔健康”，以HIV的检测、阻断、预防和治疗为切入点，深入贴近了男同群体们不可言说的“健康需求”。\n\nHIV最早的传播就是从20世纪80年代的美国男同群体之间开始的。由于特殊的性行为方式，男同一直是HIV感染者的重灾区。在美国和欧洲，男性同性恋和双性恋男性是主要HIV感染群体。\n据中国卫健委透露，在2016年前三个季度识别出的96000例新发病例中，28%为MSM（男性同性恋性接触者），而这一数据在2006年仅为2.5%。\n艾滋对于男同群体的威胁远比普通人更高，因此这一群体对艾滋的防护、检测、阻断需求也更高。\n蓝城兄弟正是抓住了这一个“不可言说”的健康细分领域。把艾滋健康服务作为切入口之后，荷尔健康还拓展了性功能障碍、脱发等其他“难以启齿”的健康服务，凭借其用户群体的准确对接和深入绑定，开拓出了一条独特、小众却无可替代的健康业务之路。\n相比于通过电商售卖保健品与性器具，荷尔健康业务的消费频次更高、消费潜力更大、消费绑定也更加深入。\n荷尔健康业务成立两年不到的时间里，业务发展迅速，有望成为蓝城兄弟继直播之后的新生核心业务，真正打通了从流量到消费的商业闭环，粉红经济的故事脉络终于趋于完整。\n虽然相比于陌陌等传统异性社交平台，蓝城兄弟业务的流量池天然处于劣势。所以陌陌仅需深度经营国内区域，就能比蓝城兄弟辛苦开拓海外市场的收获多得多。\n但凭借相对小众的领域+绝对的市场占有率，蓝城兄弟得到的是更加有粘性的用户、更加坚固的市场壁垒以及路径清晰的业务增长。\n从得到用户流量到绑定用户消费，从直播变现到健康服务变现，蓝城兄弟的商业故事或许“难以启齿”，但也散发着其“小而美”的独特光辉。","news_type":1,"symbols_score_info":{"BLCT":0.9}},"isVote":1,"tweetType":1,"viewCount":2461,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159275438,"gmtCreate":1624972881224,"gmtModify":1703849125234,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159275438","repostId":"1179060783","repostType":4,"isVote":1,"tweetType":1,"viewCount":1966,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159272715,"gmtCreate":1624972845137,"gmtModify":1703849124095,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159272715","repostId":"1131894752","repostType":4,"isVote":1,"tweetType":1,"viewCount":2065,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159272865,"gmtCreate":1624972815757,"gmtModify":1703849123444,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159272865","repostId":"1179060783","repostType":4,"isVote":1,"tweetType":1,"viewCount":2340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150928799,"gmtCreate":1624883694111,"gmtModify":1703846941946,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150928799","repostId":"1197538485","repostType":4,"isVote":1,"tweetType":1,"viewCount":918,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150928350,"gmtCreate":1624883674570,"gmtModify":1703846940978,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150928350","repostId":"1173690181","repostType":4,"repost":{"id":"1173690181","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624855957,"share":"https://ttm.financial/m/news/1173690181?lang=en_US&edition=fundamental","pubTime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12:52","market":"us","language":"zh","title":"Morgan Stanley warns: Any strong U.S. economic data will hit markets","url":"https://stock-news.laohu8.com/highlight/detail?id=1173690181","media":"华尔街见闻","summary":"摩根士丹利认为，市场对于平均通胀目标框架的信心已经出现下降，更强劲的经济数据可能会加剧美联储的鹰派倾向，美联储缩减购债规模的步伐和预计的加息步伐是市场面临的最大风险。\n“五年来最重要”的政策会议过后，","content":"<p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It is believed that the market's confidence in the average inflation target framework has declined, stronger economic data may exacerbate the Fed's hawkish tendency, and the pace of the Fed's tapering of bond purchases and the expected pace of rate hike are the biggest risks facing the market.</p><p>After the \"most important\" policy meeting in five years, although the Federal Reserve did not mention tapering QE, it released a signal that it is more likely to rate hike more than once two years later, that is, in 2023.</p><p>Morgan Stanley saw that although the sharp selling wave in broad risk markets has reversed after the meeting, the uncertainty released by the meeting has not changed. Any real or expected policy changes in the future of the Federal Reserve may exacerbate market uncertainty.</p><p>In this environment, Morgan Stanley believes that,<b>The impact of upcoming U.S. employment and inflation data on the market will be amplified, and stronger economic data may exacerbate the hawkish tendency of the Fed. It's time for the market to fasten its seat belts.</b></p><p>I still remember that in August last year, the Federal Reserve announced its major adjustment to its monetary policy framework at the annual meeting of global central banks:</p><p>First of all, the Federal Reserve will no longer pre-empt rate hike based on low unemployment rate data, and the progress of actual inflation will become the main yardstick for canceling easing policy; Secondly, the Federal Reserve has officially adopted the flexible average inflation target framework (FAIT), which aims to achieve an average inflation target of 2% over time, that is, after experiencing a certain period of low inflation, it allows higher inflation to occur in the next certain period of time. high inflation. But in Morgan Stanley's view, as the U.S. economy rebounds in the post-epidemic era, the hawkish differences shown at the Federal Reserve meeting are actually surprising, and the market's confidence in FAIT has also declined:</p><p>First, contrary to the Fed's own emphasis on real inflation > inflation expectations, despite recent worse-than-expected data and poor progress against broad job market indicators,<b>The Federal Reserve remains optimistic about the prospects for a job market recovery.</b>The 9.1% unemployment rate for African Americans, for example, is still much higher than the 5.8% unemployment rate for the United States as a whole. Secondly,<b>In recent months, Federal Reserve Chairman Jerome Powell has been tying inflation to \"temporary\", but he has now finally acknowledged the upside risks.</b>This focus on inflation expectations (rather than actual inflation) and the labor market ultimately forms a dot chart showing that \"interest rates will go higher in 2022 and 2023,\" which leads us to conclude:<b>It was a decidedly hawkish meeting.</b>Morgan Stanley also found that, according to the Fed dot plot, policymakers expect the Fed to rate hike 3-4 times in the year after the first rate hike; But the current expectation of the market is that in the 12 months after the first rate hike, the Federal Reserve will only rate hike about twice.</p><p>According to Morgan Stanley,<b>The pace of the Fed's tapering of bond purchases and the expected pace of rate hike are the biggest risks facing the market.</b>In addition, the category composition of tapering bond purchases, the interval between advance notice and the start of tapering, etc. are also additional risks worthy of vigilance.</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>Morgan Stanley warns: Any strong U.S. economic data will hit markets</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nMorgan Stanley warns: Any strong U.S. economic data will hit markets\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-28 12:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It is believed that the market's confidence in the average inflation target framework has declined, stronger economic data may exacerbate the Fed's hawkish tendency, and the pace of the Fed's tapering of bond purchases and the expected pace of rate hike are the biggest risks facing the market.</p><p>After the \"most important\" policy meeting in five years, although the Federal Reserve did not mention tapering QE, it released a signal that it is more likely to rate hike more than once two years later, that is, in 2023.</p><p>Morgan Stanley saw that although the sharp selling wave in broad risk markets has reversed after the meeting, the uncertainty released by the meeting has not changed. Any real or expected policy changes in the future of the Federal Reserve may exacerbate market uncertainty.</p><p>In this environment, Morgan Stanley believes that,<b>The impact of upcoming U.S. employment and inflation data on the market will be amplified, and stronger economic data may exacerbate the hawkish tendency of the Fed. It's time for the market to fasten its seat belts.</b></p><p>I still remember that in August last year, the Federal Reserve announced its major adjustment to its monetary policy framework at the annual meeting of global central banks:</p><p>First of all, the Federal Reserve will no longer pre-empt rate hike based on low unemployment rate data, and the progress of actual inflation will become the main yardstick for canceling easing policy; Secondly, the Federal Reserve has officially adopted the flexible average inflation target framework (FAIT), which aims to achieve an average inflation target of 2% over time, that is, after experiencing a certain period of low inflation, it allows higher inflation to occur in the next certain period of time. high inflation. But in Morgan Stanley's view, as the U.S. economy rebounds in the post-epidemic era, the hawkish differences shown at the Federal Reserve meeting are actually surprising, and the market's confidence in FAIT has also declined:</p><p>First, contrary to the Fed's own emphasis on real inflation > inflation expectations, despite recent worse-than-expected data and poor progress against broad job market indicators,<b>The Federal Reserve remains optimistic about the prospects for a job market recovery.</b>The 9.1% unemployment rate for African Americans, for example, is still much higher than the 5.8% unemployment rate for the United States as a whole. Secondly,<b>In recent months, Federal Reserve Chairman Jerome Powell has been tying inflation to \"temporary\", but he has now finally acknowledged the upside risks.</b>This focus on inflation expectations (rather than actual inflation) and the labor market ultimately forms a dot chart showing that \"interest rates will go higher in 2022 and 2023,\" which leads us to conclude:<b>It was a decidedly hawkish meeting.</b>Morgan Stanley also found that, according to the Fed dot plot, policymakers expect the Fed to rate hike 3-4 times in the year after the first rate hike; But the current expectation of the market is that in the 12 months after the first rate hike, the Federal Reserve will only rate hike about twice.</p><p>According to Morgan Stanley,<b>The pace of the Fed's tapering of bond purchases and the expected pace of rate hike are the biggest risks facing the market.</b>In addition, the category composition of tapering bond purchases, the interval between advance notice and the start of tapering, etc. are also additional risks worthy of vigilance.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a82005fdd5a20870413111b3adc1a547","relate_stocks":{"MS":"摩根士丹利"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173690181","content_text":"摩根士丹利认为，市场对于平均通胀目标框架的信心已经出现下降，更强劲的经济数据可能会加剧美联储的鹰派倾向，美联储缩减购债规模的步伐和预计的加息步伐是市场面临的最大风险。\n“五年来最重要”的政策会议过后，美联储虽未提及缩减QE，但释放了两年后、即2023年较有可能加息不止一次的信号。\n摩根士丹利看到，尽管在会议结束之后，广泛风险市场的急剧抛售潮已经出现逆转，但会议所释放出的不确定性并未有所转圜，美联储未来任何真正的、或是被市场料中的政策转变都有可能加剧市场不确定性。\n在这样的环境下，摩根士丹利认为，即将出炉的美国就业和通胀数据对市场的影响将被放大，更强劲的经济数据可能会加剧美联储的鹰派倾向，市场该系好安全带了。\n犹记得去年8月，美联储在全球央行年会上宣布了其对货币政策框架的重大调整：\n\n 首先，美联储不会再基于低失业率数据而先发制人地加息，实际通胀的进展将成为取消宽松政策的主要尺度；\n\n\n 其次，美联储正式采用了灵活的平均通胀目标框架（FAIT），旨在随着时间推移能实现平均2%的通胀目标，也就是在经历一定时间的低通胀之后，允许接下来一定时间内出现更高的通胀。\n\n但在摩根士丹利看来，随着美国经济在后疫情时代反弹，美联储会议显示出的鹰派分歧其实令人意外，市场对于FAIT的信心也已经出现下降：\n\n 首先，与美联储自己强调的实际通胀>通胀预期相反，尽管近期数据均逊于预期，跟广泛的就业市场指标进展不佳，\n 美联储仍对就业市场复苏的前景表示乐观。\n\n\n 比方说，非裔美国人9.1%的失业率仍远高于美国整体5.8%的失业率。\n\n\n 其次，\n 近几个月，美联储主席鲍威尔一直将通胀跟“暂时性”绑定，但他如今终于承认了上行风险。\n\n\n 这种对通胀预期（而非实际通胀）和劳动力市场的关注，最终形成了显示“利率会在2022年和2023年走得更高”的点状图，这就导致我们得出结论：\n 这是一次明显的鹰派会议。\n\n摩根士丹利还发现，根据美联储点阵图，政策制定者预计， 在首次加息后的一年里，美联储还将加息3-4次；但市场目前的预期则是，在首次加息后的12个月内，美联储只会加息2次左右。\n摩根士丹利认为，美联储缩减购债规模的步伐和预计的加息步伐是市场面临的最大风险。此外，缩减购债的类别构成、提前通知到开始缩减之间的间隔时间等等，也都是值得警惕的额外风险。","news_type":1,"symbols_score_info":{"MS":0.9}},"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150921276,"gmtCreate":1624883644395,"gmtModify":1703846939849,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150921276","repostId":"1187248021","repostType":4,"repost":{"id":"1187248021","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624860366,"share":"https://ttm.financial/m/news/1187248021?lang=en_US&edition=fundamental","pubTime":"2021-06-28 14:06","market":"sh","language":"zh","title":"Foreign investment frequently increases, and 20 times the space for fuel cells is ready to go","url":"https://stock-news.laohu8.com/highlight/detail?id=1187248021","media":"华尔街见闻","summary":"预计2030年燃料电池市场规模将达2600亿元人民币\n\n6月25日晚间，亿华通发布公告称：以简易程序向UBS、北汽新动能、JPMorgan以及Morgan Stanley定增募资不超过2亿元，用于燃料","content":"<p>The fuel cell market is expected to reach 260 billion yuan in 2030. On the evening of June 25,<a href=\"https://laohu8.com/S/688339\">Yihuatong</a>The announcement stated: Using simplified procedures to UBS, BAIC New Kinetic Energy, JPMorgan and<a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>The fixed increase will not exceed 200 million yuan, which will be used for the fuel cell comprehensive testing and evaluation center, etc.</p><p>On the morning of the 28th, Yihuatong's share price rose strongly, and the increase expanded to 14.14% as of noon closing.</p><p><img src=\"https://static.tigerbbs.com/28d05dc7f0ef4411f18fa48ad56356f1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Among other companies in the sector,<a href=\"https://laohu8.com/S/300473\">Del Shares</a>20% daily limit,<a href=\"https://laohu8.com/S/300409\">Dow Technology</a>、<a href=\"https://laohu8.com/S/600478\">Corun</a>Wait for many stocks to rise sharply.</p><p><b>Foreign capital frequently buys fuel cells</b></p><p>It is worth noting that this is not the first time that foreign capital has increased its investment in fuel cells in the near future. According to data from the Hong Kong Stock Exchange, Schroders Plc increased its holdings in leading fuel cell companies at HK $16.1063 per share on June 18<a href=\"https://laohu8.com/S/000338\">Weichai Power</a>3.066 million H shares cost 49.3819 million Hong Kong dollars. After the increase, the shareholding ratio rose to 10.12%.</p><p>In addition, on May 26,<a href=\"https://laohu8.com/S/02338\">Weichai Power</a>The results of the private placement were released. The company raised approximately 13 billion yuan this time, and the issuance targets were finally determined to be 25, including<a href=\"https://laohu8.com/S/UGBLF\">UBS AG</a>、<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>, National Manufacturing Transformation and Upgrading Fund and other institutions.</p><p>Data show that Weichai Power has subscribed to the world's ancestor enterprise of hydrogen fuel cells<a href=\"https://laohu8.com/S/BLDP\">Ballard Powertrain</a>The company's 19.9% shares have become its largest shareholder, and owns the rights of Ballard's next-generation proton exchange membrane fuel cell stack and module technology products in China's bus, commercial truck and forklift markets.</p><p><b>Many places in China have increased their investment, and the list of hydrogen energy urban agglomerations will be announced soon</b></p><p>On June 9, Zhang Jianming, deputy director of the Shanghai Economic and Information Technology Commission, met with Suzhou, Nantong, Jiaxing, Zibo,<a href=\"https://laohu8.com/S/600295\">Ordos</a>Relevant persons in charge of cities and Ningdong Energy and Chemical Industry Base jointly launched the fuel cell vehicle urban agglomeration cooperation project.</p><p>According to the plan, by 2023, nearly 100 hydrogen refueling stations will be planned and 30 will be completed and put into operation, with an output value of nearly 100 billion yuan and nearly 10,000 hydrogen fuel cell vehicles being promoted.</p><p>In February this year, the Beijing Municipal Development and Reform Commission announced the list of key project plans in Beijing for 2021, which also involved projects in the fields of hydrogen energy and fuel cells, including the hydrogen fuel cell R&D and production project of Hengdong Hydrogen Energy.</p><p>It is worth noting that in September 2020, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the National Energy Administration jointly issued the \"Notice on Carrying out the Demonstration Application of Fuel Cell Vehicles\", but the list of fuel cell vehicle demonstration application urban clusters has not been released.</p><p>In this regard, some insiders said that the demonstration role of hydrogen energy urban agglomerations has a significant impact on the industry, and it is expected that the relevant selection list will be accelerated.</p><p><b>How much space does a hydrogen fuel cell have?</b></p><p><a href=\"https://laohu8.com/S/600109\">Sinolink Securities</a>He said that the problems that restrict the development of domestic fuel cells are no longer performance issues, but whether core components can be localized, whether costs can be reduced, and whether there are enough application scenarios.</p><p>The analysis predicts that the first batch of demonstration cities will be the starting gun for increasing the volume of fuel cell vehicles, starting the process of increasing the volume and reducing the cost of hydrogen fuel cells. It is expected that domestic production and sales are expected to reach 10,000 vehicles in 2021.</p><p>Kaiyuan Securities pointed out that fuel cell vehicles will account for about 5% of all new energy vehicles in 2020, and the penetration rate of fuel cell vehicles is expected to increase. The number of vehicles will reach the target of 1 million vehicles from 2030 to 2035. It is expected that the market size of fuel cell gas systems will exceed 10 billion yuan in 2035.</p><p>Japan's Fuji Economic Research Company has a more optimistic view. It predicts that the fuel cell market will reach 4.5 trillion yen (equivalent to approximately 260 billion yuan) by 2030, which is 22.6 times that of 2018.</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>Foreign investment frequently increases, and 20 times the space for fuel cells is ready to go</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\">\nForeign investment frequently increases, and 20 times the space for fuel cells is ready to go\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-28 14:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The fuel cell market is expected to reach 260 billion yuan in 2030. On the evening of June 25,<a href=\"https://laohu8.com/S/688339\">Yihuatong</a>The announcement stated: Using simplified procedures to UBS, BAIC New Kinetic Energy, JPMorgan and<a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>The fixed increase will not exceed 200 million yuan, which will be used for the fuel cell comprehensive testing and evaluation center, etc.</p><p>On the morning of the 28th, Yihuatong's share price rose strongly, and the increase expanded to 14.14% as of noon closing.</p><p><img src=\"https://static.tigerbbs.com/28d05dc7f0ef4411f18fa48ad56356f1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Among other companies in the sector,<a href=\"https://laohu8.com/S/300473\">Del Shares</a>20% daily limit,<a href=\"https://laohu8.com/S/300409\">Dow Technology</a>、<a href=\"https://laohu8.com/S/600478\">Corun</a>Wait for many stocks to rise sharply.</p><p><b>Foreign capital frequently buys fuel cells</b></p><p>It is worth noting that this is not the first time that foreign capital has increased its investment in fuel cells in the near future. According to data from the Hong Kong Stock Exchange, Schroders Plc increased its holdings in leading fuel cell companies at HK $16.1063 per share on June 18<a href=\"https://laohu8.com/S/000338\">Weichai Power</a>3.066 million H shares cost 49.3819 million Hong Kong dollars. After the increase, the shareholding ratio rose to 10.12%.</p><p>In addition, on May 26,<a href=\"https://laohu8.com/S/02338\">Weichai Power</a>The results of the private placement were released. The company raised approximately 13 billion yuan this time, and the issuance targets were finally determined to be 25, including<a href=\"https://laohu8.com/S/UGBLF\">UBS AG</a>、<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>, National Manufacturing Transformation and Upgrading Fund and other institutions.</p><p>Data show that Weichai Power has subscribed to the world's ancestor enterprise of hydrogen fuel cells<a href=\"https://laohu8.com/S/BLDP\">Ballard Powertrain</a>The company's 19.9% shares have become its largest shareholder, and owns the rights of Ballard's next-generation proton exchange membrane fuel cell stack and module technology products in China's bus, commercial truck and forklift markets.</p><p><b>Many places in China have increased their investment, and the list of hydrogen energy urban agglomerations will be announced soon</b></p><p>On June 9, Zhang Jianming, deputy director of the Shanghai Economic and Information Technology Commission, met with Suzhou, Nantong, Jiaxing, Zibo,<a href=\"https://laohu8.com/S/600295\">Ordos</a>Relevant persons in charge of cities and Ningdong Energy and Chemical Industry Base jointly launched the fuel cell vehicle urban agglomeration cooperation project.</p><p>According to the plan, by 2023, nearly 100 hydrogen refueling stations will be planned and 30 will be completed and put into operation, with an output value of nearly 100 billion yuan and nearly 10,000 hydrogen fuel cell vehicles being promoted.</p><p>In February this year, the Beijing Municipal Development and Reform Commission announced the list of key project plans in Beijing for 2021, which also involved projects in the fields of hydrogen energy and fuel cells, including the hydrogen fuel cell R&D and production project of Hengdong Hydrogen Energy.</p><p>It is worth noting that in September 2020, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the National Energy Administration jointly issued the \"Notice on Carrying out the Demonstration Application of Fuel Cell Vehicles\", but the list of fuel cell vehicle demonstration application urban clusters has not been released.</p><p>In this regard, some insiders said that the demonstration role of hydrogen energy urban agglomerations has a significant impact on the industry, and it is expected that the relevant selection list will be accelerated.</p><p><b>How much space does a hydrogen fuel cell have?</b></p><p><a href=\"https://laohu8.com/S/600109\">Sinolink Securities</a>He said that the problems that restrict the development of domestic fuel cells are no longer performance issues, but whether core components can be localized, whether costs can be reduced, and whether there are enough application scenarios.</p><p>The analysis predicts that the first batch of demonstration cities will be the starting gun for increasing the volume of fuel cell vehicles, starting the process of increasing the volume and reducing the cost of hydrogen fuel cells. It is expected that domestic production and sales are expected to reach 10,000 vehicles in 2021.</p><p>Kaiyuan Securities pointed out that fuel cell vehicles will account for about 5% of all new energy vehicles in 2020, and the penetration rate of fuel cell vehicles is expected to increase. The number of vehicles will reach the target of 1 million vehicles from 2030 to 2035. It is expected that the market size of fuel cell gas systems will exceed 10 billion yuan in 2035.</p><p>Japan's Fuji Economic Research Company has a more optimistic view. It predicts that the fuel cell market will reach 4.5 trillion yen (equivalent to approximately 260 billion yuan) by 2030, which is 22.6 times that of 2018.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d8fb95e65f042f352c6313989391357","relate_stocks":{"688339":"亿华通"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187248021","content_text":"预计2030年燃料电池市场规模将达2600亿元人民币\n\n6月25日晚间，亿华通发布公告称：以简易程序向UBS、北汽新动能、JPMorgan以及Morgan Stanley定增募资不超过2亿元，用于燃料电池综合测试评价中心等。\n28日早间，亿华通股价强势上扬，截至午间收盘涨幅扩大至14.14%。\n\n板块其他公司中，德尔股份20%涨停，道氏技术、科力远等多股大涨。\n外资频频出手燃料电池\n值得注意的是，这并非外资近期首次对燃料电池进行加码，港交所资料显示，Schroders Plc于6月18日以16.1063港元/股增持燃料电池领军企业潍柴动力H股306.6万股，耗资4938.19万港元，增持后持股比例升至10.12%。\n此外，5月26日，潍柴动力定增结果出炉，公司此次募资约130亿元，发行对象最终确定为25位，包括UBS AG、摩根士丹利、国家制造业转型升级基金等机构。\n数据显示，潍柴动力已认购全球氢燃料电池始祖级企业巴拉德动力系统公司19.9%股份成为其第一大股东，并拥有巴拉德下一代质子交换膜燃料电池电堆及模组技术产品在中国客车、商用卡车和叉车市场的权利。\n国内多地纷纷加码，氢能城市群名单公布在即\n6月9日，上海经信委副主任张建明与苏州、南通、嘉兴、淄博、鄂尔多斯等城市以及宁东能源化工基地的相关负责人共同启动燃料电池汽车城市群合作项目。\n根据规划，到2023年将规划加氢站接近100座并建成运行30座，形成产值规模近1000亿元，推广氢燃料电池汽车近10000辆。\n而在今年2月，北京市发展改革委对外公布北京市2021年重点工程计划名单，也涉及了氢能与燃料电池领域的项目包括恒动氢能的氢能燃料电池研发生产项目。\n值得注意的是，2020年9月，财政部、工业和信息化部、科技部、国家发展改革委、国家能源局联合发布的《关于开展燃料电池汽车示范应用的通知》，但燃料电池汽车示范应用城市群名单一直没有发布。\n对此，有业内人士表示，氢能城市群示范作用对行业产业影响明显，预计相关入选名单将加快落地。\n氢燃料电池空间多大？\n国金证券表示，现如今制约国产燃料电池发展的问题已经不是性能上的问题，而是核心零部件能否国产化、成本能否下降以及应用场景是否足够多的问题。\n分析预计，首批示范城市落地将是燃料电池汽车放量的发令枪，开启氢燃料电池的放量降本进程，预期2021年国内产销量有望达到万辆级别。\n开源证券指出，2020年燃料电池车占全部新能源车比例约为5%，燃料电池车渗透率有望提升，2030~2035年保有量将达到100万辆的目标，预计2035年燃料电池气体系统的市场规模有望超过百亿元。\n而日本富士经济调查公司的观点则更为乐观，其预计到2030年燃料电池市场规模将达4.5万亿日元（折合人民币约2600亿元），是2018年的22.6倍。","news_type":1,"symbols_score_info":{"688339":0.9}},"isVote":1,"tweetType":1,"viewCount":657,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150921392,"gmtCreate":1624883630116,"gmtModify":1703846939362,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150921392","repostId":"1114156338","repostType":4,"isVote":1,"tweetType":1,"viewCount":662,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150923185,"gmtCreate":1624883595247,"gmtModify":1703846937737,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150923185","repostId":"1102698423","repostType":4,"repost":{"id":"1102698423","kind":"news","pubTimestamp":1624863729,"share":"https://ttm.financial/m/news/1102698423?lang=en_US&edition=fundamental","pubTime":"2021-06-28 15:02","market":"hk","language":"zh","title":"Internet medical companies have set off a wave of listings, and Dingdang Kuaiyao sprints to be listed on the Hong Kong Stock Exchange","url":"https://stock-news.laohu8.com/highlight/detail?id=1102698423","media":"第一财经","summary":"2020年企业注册量最多，今年上半年注册量同比增长115.4%。\n\n日前，叮当快药向港交所递交上市申请。自去年底京东健康在港交所上市以来，互联网医疗企业掀起了上市潮。企查查数据显示，目前我国现存“互联","content":"<p><div>In 2020, the number of enterprise registrations was the largest, and the number of registrations in the first half of this year increased by 115.4% year-on-year. A few days ago, Dingdang Kuaiyao submitted a listing application to the Hong Kong Stock Exchange. Since JD Health was listed on the Hong Kong Stock Exchange at the end of last year, Internet medical companies have set off a wave of listings. According to the data of enterprise search, there are currently 500,000 \"Internet medical care\" related enterprises in China. 2020 is the peak period of enterprise registration, with 61,000 new enterprises; In the first half of this year, 140,000 new enterprises were added, a year-on-year increase of 115.4%. From the perspective of provincial distribution, Guangdong Province ranks first with 83,000 companies, followed by Shandong Province and Fujian Province. Furthermore, there are...</p><p><a href=\"https://www.yicai.com/news/101094384.html\">Web link</a></div></p>","source":"dyvj","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>Internet medical companies have set off a wave of listings, and Dingdang Kuaiyao sprints to be listed on the Hong Kong Stock Exchange</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\">\nInternet medical companies have set off a wave of listings, and Dingdang Kuaiyao sprints to be listed on the Hong Kong Stock Exchange\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">第一财经</strong><span class=\"h-time small\">2021-06-28 15:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>In 2020, the number of enterprise registrations was the largest, and the number of registrations in the first half of this year increased by 115.4% year-on-year. A few days ago, Dingdang Kuaiyao submitted a listing application to the Hong Kong Stock Exchange. Since JD Health was listed on the Hong Kong Stock Exchange at the end of last year, Internet medical companies have set off a wave of listings. According to the data of enterprise search, there are currently 500,000 \"Internet medical care\" related enterprises in China. 2020 is the peak period of enterprise registration, with 61,000 new enterprises; In the first half of this year, 140,000 new enterprises were added, a year-on-year increase of 115.4%. From the perspective of provincial distribution, Guangdong Province ranks first with 83,000 companies, followed by Shandong Province and Fujian Province. Furthermore, there are...</p><p><a href=\"https://www.yicai.com/news/101094384.html\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.yicai.com/news/101094384.html\">第一财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/29ad0ce89176915a4685c7665dee3234","relate_stocks":{"01833":"平安好医生","06618":"京东健康"},"source_url":"https://www.yicai.com/news/101094384.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102698423","content_text":"2020年企业注册量最多，今年上半年注册量同比增长115.4%。\n\n日前，叮当快药向港交所递交上市申请。自去年底京东健康在港交所上市以来，互联网医疗企业掀起了上市潮。企查查数据显示，目前我国现存“互联网医疗”相关企业共50万家。2020年是企业注册量的高峰期，新增6.1万家；今年上半年新增14万家企业，同比增长115.4%。从省份分布来看，广东省以8.3万家位列第一，其次是山东省、福建省。此外，有62%的企业注册资本超过100万。面对阿里健康、京东健康、平安好医生等一众巨头玩家，缝中求生的叮当快药，上市会是解药吗？\n2020年企业注册量最多，今年上半年注册量同比增长115.4%\n\n企查查数据显示，从近十年互联网医疗相关企业发展状况来看，2016年开始，企业注册量增速加快，当年注册量首次突破2万家；2018年注册量突破4万家；2020年是十年来企业注册量的高峰期，全年共注册了6.1万家，同比增长了23.3%。\n\n从今年的注册量来看，2021年上半年，我国互联网医疗企业注册量为14万家，同比增长了115.4%。从各月注册量来看，今年三月和四月是注册量较多的月份，均注册了3.1万家相关企业。\n广东省企业最多，山东、福建其次\n\n从地域分布来看，企查查数据显示，目前我国现存的互联网医疗相关企业主要分布在广东、山东、福建等省份。其中广东拥有最多的互联网医疗相关企业，共8.3万家排全国第一。山东排名第二，共5.4万家相关企业；福建排名第三，有4.9万家相关企业。\n\n从注册资本来看，企查查数据显示，互联网医疗相关企业注册资本在100万元以内的企业数量占38%，100万元以上则占62%，其中注册资本在100-500万元和500万元以上的分别占37%和25%。","news_type":1,"symbols_score_info":{"01833":0.9,"06618":0.9}},"isVote":1,"tweetType":1,"viewCount":903,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150929453,"gmtCreate":1624883580872,"gmtModify":1703846936927,"author":{"id":"3572785300913507","authorId":"3572785300913507","name":"山风_8300","avatar":"https://static.tigerbbs.com/297d7c59c9be350172849ef10e98943c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572785300913507","idStr":"3572785300913507"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150929453","repostId":"2146881398","repostType":4,"repost":{"id":"2146881398","kind":"news","pubTimestamp":1624865044,"share":"https://ttm.financial/m/news/2146881398?lang=en_US&edition=fundamental","pubTime":"2021-06-28 15:24","market":"us","language":"zh","title":"Buffett: Many people's understanding of value investing is wrong!","url":"https://stock-news.laohu8.com/highlight/detail?id=2146881398","media":"新浪财经","summary":"沃伦·巴菲特在福布斯排行榜上名列前茅。他的所有钱都是通过投资创造的。巴菲特的创富神话一直都让人眼馋。这便是唯一的答案。所有人都对钱敏感，但巴菲特对挣钱敏感，这种敏感带给他终身致富的高潮。查理·芒格后来成为巴菲特的投资搭档，两人专注于高质量的公司。价值投资一个绝好的方法，就是以折扣价格购买有“护城河”的高质量公司。投资是一门艺术，持之以恒的学习，是精通这门艺术的唯一通路。","content":"<p>Warren Buffett tops the Forbes list.</p><p>All of his money is created through investments.</p><p>Buffett's myth of wealth creation has always been eye-catching.</p><p>So, how does he do it?</p><p>Value investing.</p><p>This is the only answer.</p><p>01</p><p>Money Sensitive</p><p>Everyone is sensitive to money, but Buffett is sensitive to making money, and this sensitivity has brought him the climax of lifelong wealth.</p><p>Elementary school, he sold Wrigley gum and cans<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>(He later invested in both companies); At 11, he bought his first stock; 13 years old, fill out the first tax return; At the age of 14, he used the money he earned to buy land in Nebraska (isn't it too much to become a landowner at a young age).</p><p><img src=\"https://static.tigerbbs.com/3badb332210fba93c55d2e8a75ce85bb\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>My father went into politics and was a congressman in Washington. Buffett couldn't sit idle, so he worked as a newsboy and delivered newspapers to save money. Later, he bought some pinball machines, put them in the barber shop and shared them with the owner.</p><p>It can be said that as long as there is an opportunity to make money, he will not let it go.</p><p>This is the first big gap between Buffett and us.</p><p>We are sensitive to money, and he is sensitive to earning money.</p><p>02</p><p>The power of knowledge</p><p>Knowledge changes destiny, and this statement will not be false on anyone.</p><p>When Buffett was an undergraduate, he was at Wharton Business School and Nebraska State University. After graduation, he was admitted to Harvard and was rejected by Harvard. Fortunately, Columbia University admitted him.</p><p>At Columbia University, he met Benjamin Graham, the pioneer of value investing who completely changed his life. This is the first acceleration in Buffett's life.</p><p><img src=\"https://static.tigerbbs.com/d0fbdeb578281040d4a46089a40e8ce0\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>For a long time, Buffett regarded Benjamin Graham as a god and has been operating according to his ideas.</p><p>After working for Graham and his old father for a while, Buffett set up his own investment firm and managed a series of hedge funds.</p><p>After that, Buffett abandoned Benjamin Graham's too rigorous value investing method and absorbed the investment strategies of growth investors Philip Fisher and Charlie Munger.</p><p>Charlie Munger later became Buffett's investment partner, and the two focused on high-quality companies.<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Is the result of their work.</p><p><img src=\"https://static.tigerbbs.com/718f8da64474e654e0d03a1f78af0b69\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>The original Berkshire was still a textile manufacturer struggling to survive.</p><p>Now, it has become something that others can't afford-it owns many companies such as Geke Insurance, Duracell Battery, Dairy Queen, and Netjie; Hoarded a lot of stocks, such as Coca-Cola,<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>、<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Kraft, Heinz,<a href=\"https://laohu8.com/S/AXP\">American Express</a>Wait, wait.</p><p>03</p><p>Theoretical precipitation and value combat</p><p>Value investing and moats.</p><p>In these two words, all the passwords of Buffett's wealth kingdom are hidden.</p><p>\"Moat\" can be simply understood as a buffer zone around a company's core business, making it less vulnerable to competitors.</p><p>Why is there only<a href=\"https://laohu8.com/S/BA\">boeing</a>And Airbus, two major commercial aircraft manufacturers, but countless restaurants? The answer lies in it.</p><p>An excellent way to invest in value is to buy high-quality companies with a \"moat\" at a discounted price.</p><p>Buffett's thinking has produced good results in practice.</p><p><img src=\"https://static.tigerbbs.com/d6e581fcb89c6fa1c1cfd058f5659796\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>Buffett's investment in American Express in 1963 was the first important application of this idea.</p><p>At the time, American Express had a finance-related business, one of which was warehouse management. They can provide loans to a company based on its inventory list. The company's goods will be placed in a warehouse, and employees of the American Stock Exchange can go and inspect it.</p><p>A company borrowed money by virtue of its salad oil inventory, but this company injected water into salad oil and was found to commit fraud. Subsequently, the company went bankrupt, and the stock of Express Company plummeted by 50%.</p><p>Buffett believes that temporary mistakes can only cause short-term losses, the core business of American Express will not be affected, and the \"moat\" is still very wide.</p><p>So, Buffett made a move, taking out 40% of his assets and buying 5% of American Express stocks.</p><p>Five years later, Buffett sold his shares for more than five times the profit. After that, Buffett made a new bet on American Express Company, which he had held for more than 25 years.</p><p><img src=\"https://static.tigerbbs.com/66ed8aa41fa68a2f91e6f6b5b997673c\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>Holding Coca-Cola is another myth created by another Buffett.</p><p>In 1988, his Berkshire Hathaway started buying shares of Coca-Cola.</p><p>At that time, Coca-Cola's P/E was about 15, which was not particularly cheap, but lower than its historical average of 20. P/E is the ratio of market price per share to earnings per share, which is used to measure whether a stock is overvalued. The lower the P/E, the cheaper the stock will be.</p><p>Coca-Cola is so cheap for several reasons. First, the stock market crashed in 1987, and everyone's mentality collapsed; Second, the new Coca-Cola products are too bad to drink, and the market's reputation has fallen in the short term; The third is investment failure.</p><p>Buffett found that Coca-Cola's \"moat\" is very wide, its network marketing is very strong, and it is difficult for competitors to challenge it. Coupled with Coca-Cola's gross profit of 80% and the love of emerging markets, Buffett said confidently: \"If you give me $100 billion and tell me to'take away Coca-Cola's leading position in the global beverage market ', I will give you the money back, and then tell you that it can't be done.\"</p><p>Buffett's initial investment in Coca-Cola was $1.2 billion, and with subsequent purchases from time to time, the total assets later acquired were valued at about $16 billion-plus billions of Dividend received.</p><p>04</p><p>Secret to Success</p><p>\"When others are greedy, be afraid; When others are afraid, be greedy.\"</p><p>On the whole, Warren Buffett showed the attitude of a successful man when he was young. However, it wasn't until he met Graham that his investment strategy began to take shape. After that, he absorbed the ideas of Charlie Munger and others to form a unique investment idea.</p><p>Buffett's contribution to value investing is to find high-quality companies that are being sold at a discount, and let the \"moat\" around the company protect his investment, allowing him to hold the company's stock forever-this is his favorite way.</p><p>Many people try to copy Buffett's investment method, but this idea is wrong from the beginning. Buffett can learn, but he must not copy it. Even if he copies it, there is no place to paste it.</p><p>Investment is an art, and persistent learning is the only way to master this art. Getting close to the master and learning from the master is the shortcut in this path.</p>","source":"sina_symbol","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>Buffett: Many people's understanding of value investing is wrong!</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\">\nBuffett: Many people's understanding of value investing is wrong!\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-06-28 15:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Warren Buffett tops the Forbes list.</p><p>All of his money is created through investments.</p><p>Buffett's myth of wealth creation has always been eye-catching.</p><p>So, how does he do it?</p><p>Value investing.</p><p>This is the only answer.</p><p>01</p><p>Money Sensitive</p><p>Everyone is sensitive to money, but Buffett is sensitive to making money, and this sensitivity has brought him the climax of lifelong wealth.</p><p>Elementary school, he sold Wrigley gum and cans<a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>(He later invested in both companies); At 11, he bought his first stock; 13 years old, fill out the first tax return; At the age of 14, he used the money he earned to buy land in Nebraska (isn't it too much to become a landowner at a young age).</p><p><img src=\"https://static.tigerbbs.com/3badb332210fba93c55d2e8a75ce85bb\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>My father went into politics and was a congressman in Washington. Buffett couldn't sit idle, so he worked as a newsboy and delivered newspapers to save money. Later, he bought some pinball machines, put them in the barber shop and shared them with the owner.</p><p>It can be said that as long as there is an opportunity to make money, he will not let it go.</p><p>This is the first big gap between Buffett and us.</p><p>We are sensitive to money, and he is sensitive to earning money.</p><p>02</p><p>The power of knowledge</p><p>Knowledge changes destiny, and this statement will not be false on anyone.</p><p>When Buffett was an undergraduate, he was at Wharton Business School and Nebraska State University. After graduation, he was admitted to Harvard and was rejected by Harvard. Fortunately, Columbia University admitted him.</p><p>At Columbia University, he met Benjamin Graham, the pioneer of value investing who completely changed his life. This is the first acceleration in Buffett's life.</p><p><img src=\"https://static.tigerbbs.com/d0fbdeb578281040d4a46089a40e8ce0\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>For a long time, Buffett regarded Benjamin Graham as a god and has been operating according to his ideas.</p><p>After working for Graham and his old father for a while, Buffett set up his own investment firm and managed a series of hedge funds.</p><p>After that, Buffett abandoned Benjamin Graham's too rigorous value investing method and absorbed the investment strategies of growth investors Philip Fisher and Charlie Munger.</p><p>Charlie Munger later became Buffett's investment partner, and the two focused on high-quality companies.<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Is the result of their work.</p><p><img src=\"https://static.tigerbbs.com/718f8da64474e654e0d03a1f78af0b69\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>The original Berkshire was still a textile manufacturer struggling to survive.</p><p>Now, it has become something that others can't afford-it owns many companies such as Geke Insurance, Duracell Battery, Dairy Queen, and Netjie; Hoarded a lot of stocks, such as Coca-Cola,<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>、<a href=\"https://laohu8.com/S/WMT\">Walmart</a>、<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Kraft, Heinz,<a href=\"https://laohu8.com/S/AXP\">American Express</a>Wait, wait.</p><p>03</p><p>Theoretical precipitation and value combat</p><p>Value investing and moats.</p><p>In these two words, all the passwords of Buffett's wealth kingdom are hidden.</p><p>\"Moat\" can be simply understood as a buffer zone around a company's core business, making it less vulnerable to competitors.</p><p>Why is there only<a href=\"https://laohu8.com/S/BA\">boeing</a>And Airbus, two major commercial aircraft manufacturers, but countless restaurants? The answer lies in it.</p><p>An excellent way to invest in value is to buy high-quality companies with a \"moat\" at a discounted price.</p><p>Buffett's thinking has produced good results in practice.</p><p><img src=\"https://static.tigerbbs.com/d6e581fcb89c6fa1c1cfd058f5659796\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>Buffett's investment in American Express in 1963 was the first important application of this idea.</p><p>At the time, American Express had a finance-related business, one of which was warehouse management. They can provide loans to a company based on its inventory list. The company's goods will be placed in a warehouse, and employees of the American Stock Exchange can go and inspect it.</p><p>A company borrowed money by virtue of its salad oil inventory, but this company injected water into salad oil and was found to commit fraud. Subsequently, the company went bankrupt, and the stock of Express Company plummeted by 50%.</p><p>Buffett believes that temporary mistakes can only cause short-term losses, the core business of American Express will not be affected, and the \"moat\" is still very wide.</p><p>So, Buffett made a move, taking out 40% of his assets and buying 5% of American Express stocks.</p><p>Five years later, Buffett sold his shares for more than five times the profit. After that, Buffett made a new bet on American Express Company, which he had held for more than 25 years.</p><p><img src=\"https://static.tigerbbs.com/66ed8aa41fa68a2f91e6f6b5b997673c\" tg-width=\"720\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p>Holding Coca-Cola is another myth created by another Buffett.</p><p>In 1988, his Berkshire Hathaway started buying shares of Coca-Cola.</p><p>At that time, Coca-Cola's P/E was about 15, which was not particularly cheap, but lower than its historical average of 20. P/E is the ratio of market price per share to earnings per share, which is used to measure whether a stock is overvalued. The lower the P/E, the cheaper the stock will be.</p><p>Coca-Cola is so cheap for several reasons. First, the stock market crashed in 1987, and everyone's mentality collapsed; Second, the new Coca-Cola products are too bad to drink, and the market's reputation has fallen in the short term; The third is investment failure.</p><p>Buffett found that Coca-Cola's \"moat\" is very wide, its network marketing is very strong, and it is difficult for competitors to challenge it. Coupled with Coca-Cola's gross profit of 80% and the love of emerging markets, Buffett said confidently: \"If you give me $100 billion and tell me to'take away Coca-Cola's leading position in the global beverage market ', I will give you the money back, and then tell you that it can't be done.\"</p><p>Buffett's initial investment in Coca-Cola was $1.2 billion, and with subsequent purchases from time to time, the total assets later acquired were valued at about $16 billion-plus billions of Dividend received.</p><p>04</p><p>Secret to Success</p><p>\"When others are greedy, be afraid; When others are afraid, be greedy.\"</p><p>On the whole, Warren Buffett showed the attitude of a successful man when he was young. However, it wasn't until he met Graham that his investment strategy began to take shape. After that, he absorbed the ideas of Charlie Munger and others to form a unique investment idea.</p><p>Buffett's contribution to value investing is to find high-quality companies that are being sold at a discount, and let the \"moat\" around the company protect his investment, allowing him to hold the company's stock forever-this is his favorite way.</p><p>Many people try to copy Buffett's investment method, but this idea is wrong from the beginning. Buffett can learn, but he must not copy it. Even if he copies it, there is no place to paste it.</p><p>Investment is an art, and persistent learning is the only way to master this art. Getting close to the master and learning from the master is the shortcut in this path.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://k.sina.cn/article_1638782947_61add7e3019012cvd.html\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://k.sina.cn/article_1638782947_61add7e3019012cvd.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146881398","content_text":"沃伦·巴菲特在福布斯排行榜上名列前茅。\n他的所有钱都是通过投资创造的。\n巴菲特的创富神话一直都让人眼馋。\n那么，他是怎么做的呢？\n价值投资。\n这便是唯一的答案。\n01\n对金钱敏感\n所有人都对钱敏感，但巴菲特对挣钱敏感，这种敏感带给他终身致富的高潮。\n小学，他卖箭牌口香糖和罐装可口可乐（后来两家公司他都投了）；11岁，他购买了第一只股票；13岁，填第一份纳税申报单；14岁，用自己赚的钱在内布拉斯加州买地（年纪轻轻就成为地主，是不是很过分）。\n\n父亲从政，在华盛顿做国会议员。巴菲特闲不住，去当报童，送报纸攒钱。后来，他买了一些弹球机，放在理发店里，跟店主分成。\n可以说，只要有挣钱的机会，他都不会放过。\n这就是巴菲特跟我们的第一个大型差距。\n我们对钱敏感，他对挣钱敏感。\n02\n知识的力量\n知识改变命运，这话放在谁身上都不会假。\n巴菲特本科的时候先后在沃顿商学院、内布拉斯加州立大学，毕业后考哈佛，被哈佛拒绝，好在哥伦比亚大学录取了他。\n在哥大，他遇到了彻底改变他人生的价值投资先驱——本杰明·格雷厄姆。这是巴菲特人生的第一次加速。\n\n巴菲特在很长的时间里，视本杰明·格雷厄姆为神，一直按照他的思路来操作。\n在为格雷厄姆和自己的老父亲做了一段时间的工作之后，巴菲特成立了自己的投资公司，管理一系列对冲基金。\n之后，巴菲特放弃了本杰明·格雷厄姆过于严谨的价值投资方法，吸收了成长型投资家菲利普·费雪、查理·芒格的投资策略。\n查理·芒格后来成为巴菲特的投资搭档，两人专注于高质量的公司。伯克希尔便是他们的工作成果。\n\n最初的伯克希尔，还是一个努力求生的纺织品制造商。\n而现在，它已经成了别人高攀不起的样子——拥有盖可保险、金霸王电池、乳品皇后、奈特捷等多家公司；囤积了大量股票，如可口可乐、富国银行、沃尔玛、美国银行、卡夫、亨氏、美国运通等等。\n03\n理论沉淀与价值实战\n价值投资和护城河。\n这两个词语里，藏着巴菲特财富王国的全部密码。\n“护城河”，可以简单理解为，一个公司核心业务周围的缓冲区，让它不容易受到竞争对手的打击。\n为什么世界上只有波音和空中客车两大商用飞机制造商，却又不计其数的餐厅呢？答案就在其中。\n价值投资一个绝好的方法，就是以折扣价格购买有“护城河”的高质量公司。\n巴菲特的这种思想在实践中产生了很好的效果。\n\n1963年，巴菲特对美国运通公司的投资，是这种思想的第一次重要应用。\n当时，美国运通公司有一项金融相关业务，其中之一是仓库管理。他们可以根据一家公司的存货清单为其提供贷款。这家公司的货物将被放置在一个仓库里，美国证券交易所的雇员可以前往视察。\n有一家公司凭借色拉油存货借到了钱，但这家公司给色拉油注水，搞欺诈被发现。随后，这家公司破产，运通公司的股票暴跌50%。\n巴菲特认为，一时的失误只能造成短暂的损失，运通公司的核心业务不受影响，“护城河”还很宽。\n于是，巴菲特出手了，拿出了自己资产的40%，买了美国运通5%的股票。\n5年后，巴菲特以超过5倍的利润卖掉了股份。之后，巴菲特在运通公司投下新的赌注，他持有该公司的股票已经超过25年。\n\n持有可口可乐，是另一个巴菲特创造的另一个神话。\n1988年，他的伯克希尔·哈撒韦公司开始买入可口可乐公司的股票。\n当时，可口可乐的市盈率约为15，不是特别便宜，但是低于其历史平均值20。市盈率是每股市价与每股盈利的比率，用来衡量股票价值是否被高估。市盈率越低，股票就越便宜。\n可口可乐如此便宜，出于几个原因。一是87年股市崩盘，大家心态比较崩；二是可口可乐新品太难喝，市场短期内口碑下跌；三是投资失败。\n巴菲特发现，可口可乐的“护城河”很宽，它的网络营销是很强大的，竞争对手很难对它发起挑战。再加上可口可乐的毛利润高达80%和新兴市场的喜爱，让巴菲特信心十足地说：“如果你给我1000亿美元，告诉我‘夺走可口可乐在全球饮料市场的领先地位’，我会把钱还给你，然后跟你说办不到”。\n巴菲特最初对可口可乐的投资是12亿美元，加上后续时不时的买入，后来获得的总资产被估值约160亿美元——外加收到的数十亿股息。\n04\n成功秘诀\n “当别人贪婪时，你要恐惧；当别人恐惧时，你要贪婪。”\n整体来看，沃伦·巴菲特在年少时就显露出成功者的姿态。不过，直到他遇到了格雷厄姆，他的投资策略才开始形成。之后，他吸纳了查理·芒格等人的思想，形成了独一无二的投资思想。\n巴菲特对价值投资的贡献在于，找到在以折扣价出售的高质量公司，让公司周围的“护城河”保护他的投资，使他能够永远持有公司的股票——这是他最喜欢的方式。\n很多人试图寻找复制巴菲特的投资方法，但这种想法，一开始就错了。巴菲特可以学习，但绝对不能复制，即便复制，也没地方粘贴。\n投资是一门艺术，持之以恒的学习，是精通这门艺术的唯一通路。而靠近大师，跟大师学习，则是这条通路中的捷径。","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":692,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}